Skip to main content

tv   Mornings With Maria Bartiromo  FOX Business  May 24, 2019 6:00am-9:00am EDT

6:00 am
action during the show. we had the breaking news, theresa may, if you're just waking up, folks, resigning on june 7th. ashley: june 7th, a friday. cheryl: she was so emotional. ashley: she was choked up at the end, for sure. cheryl: theresa may is out and brexit, we'll have to see. ashley: we've been saying that for a long time. cheryl: it's been a busy, yeah you. >> i hour on "fbn: a.m.." we now send it over to "mornings with maria" with dagen mcdowell. dagen: it helps with ashley being there, the whole british accent. you know. ashley: i'm from nebraska, really. dagen: good morning, i'm dagen mcdowell in for maria bartiromo. it is friday, may 24th. your top stories at 6:00 a.m. eastern. breaking news this morning, british prime minister theresa may resigning. she set the time line for her departure. the details straight ahead. china trade turmoil, president trump saying huawei is very dangerous, but could be part of a trade deal.
6:01 am
china accusing president trump of suppressing chinese business and we look into that and the impact here at home. investigating the investigators, president trump ordering the attorney general to declassify documents related to the spying on the trump campaign. where the investigation goes from here. and the boeing max possibly getting ready for take off. reuters reporting the jets could be cleared for flight as soon as late june. "mornings with maria" starts right now. a market alert, futures are pointing up at the moment. 170 point gain on the dow futures after what was a bruising market route yesterday. again, what was going on is that wall street seemed to have woke up yesterday and decided this trade fight with china is a great deal more serious, could last a great deal longer than people expected. they're using that really maybe even every dollar of imports coming into the united states from china getting tariffed as
6:02 am
their baseline and you had a major selloff on-hand. we have gains across the board right now. breaking news this morning, prime minister theresa may announcing hers resignation. this happened around 10:00 a.m. london time. an emotional may speaking about her failure to deliver a plan for the u.k. to leave the european union. >> i have done everything i can to convince m.p.s to back that deal. sadly, i have not been able to do so. so i am to you day announcing that i will resign as leader of the conservative and unionist party on friday, the seventh of june. so that a successor can be chosen. i will shortly leave the job that has been the honor of my life to hold. the second female prime minister, but certainly not the last. i do so with no ill will, but with enormous and enduring gratitude to have had the opportunity to serve the country
6:03 am
i love. dagen: joining me now, wall street journal global economics editor, john hilsenrath. what does this mean for the united states? that was clearly a very emotional he theresa may this morning. >> you know, i think this does have important implications for the united states, not just he theresa may, but everything happening with china. my advice today is watch the u.s. dollar. the dollar has been getting stronger for several weeks now. it's up almost 5% from a year ago. and if it gets much stronger, it's going to be hitting multiyear highs. a strong dollar has important implications for american manufacturers. it makes it harder to sell goods overseas. it also holds down interest rates here in the united states because it holds down import prices. i think you're going to hear the president of the united states talking about the strong dollar and using that potentially as
6:04 am
another reason to beat up on the fed to start cutting interest rates. so i do think everything that's happening in the rest of the world does reverberate to the united states and we'll see it boil down over the next new days or weeks in that action in the dollar. dagen: in terms of her stepping down and the road ahead for britain leaving the european union, how does that play out here in the united states? what do you think investors are going to be looking at? what do you think the federal reserve will be watching other than just the action in the dollar? >> well the other thing we have to look at today, i know you look at this all the time, dagen, but watch long-term interest rates. they're coming down. 10 yearasury yields yesterday got down to 2.3%. happens when the rest of the world looks like it's in turmoil, investors around the world go and buy u.s. treasury bonds. that's seen as the safe haven
6:05 am
around the world. so long-term interest rates are coming down. that's good news if you're in the housing market, if you're looking to go out and buy a home, your mortgage rate is coming down. again, it's something that the federal reserve is going to be looking at and the fed decided several months ago that it wasn't raising interest rates anymore this year. they were thinking about raising interest rates. the move on the fed right now is they need to start cutting interest rates. we talk in the markets about an inverted yield curve when long-term interest rates are lower than short-term interest rates. sometimes that's a sign of a recession. 2.3% on the 10 year yield, that's getting pretty close to that kind of inversion. i think the fed could be under pressure to cut interest rates in the months ahead if these kinds of trends keep continuing. dagen: the fed funds raised 2 and a quarter to 2 and-a-half right now and the two year yield also declined yesterday to
6:06 am
2.13%. so not an inversion between the 2 and the 10 at this point but that's worth watching. this all plays into the china trade situation and the fight that the u.s. and china have gotten into. the dow was down nearly 300 points, down more than 400 points during the lows of the day, uncertainty over u.s. trade. and optimism today following reports that the trump administration is considering a softer approach to huawei. here's the president yesterday after meeting with u.s. farmers over trade concerns. >> i don't know how china can do this. i'll be honest, we're getting hundreds of billions of dollars brought into our country. we've never gotten 10-cents. we're getting hundreds of billions of dollars coming into our country. and i'm helping the farmers. huawei is something that's very dangerous. you look at what they've done from a security standpoint, from a military standpoint, it's very dangerous. so it's possible that huawei even would be included in some kind of trade deal. if we made a deal, i could imagine huawei being possibly
6:07 am
included in some form of or some part of a trade deal. >> how would that look? >> it would look very good for us. dagen: that's a switch, john, because, again, the argument coming out of members of the administration has been we're getting tough on huawei over here in the justice department but that's not part of the trade negotiations. what do you make of this? >> i'm going to say a couple things about what the president just said there. on huawei first. the administration officials have been saying that huawei is a national security issue and has to be dealt with for national security purposes and not part of these economic negotiations and a trade issue. the president -- it's been a little puzzling. how can you have two negotiations going on with the chinese at the same time. the president, it sounds like he's saying let's use huawei as a bargaining chip in these trade deals. maybe that's softening his
6:08 am
position a little bit. we have to see how that plays out. there are certainly people in the administration who think that huawei has to be kept out of this and dealt with because it's a national security threat. i want to make one other point about what the president said. hundreds of billions of dollars. well, if we've got 25% tariffs on $250 billion worth of goods, that's around 7 a $5 billio aroa year. hundreds of billions is perhaps an exaggeration. if the tariffs stay in place it could be hundreds of billions of dollars. that's a little bit of a fabulous comment that i just wanted to point out. dagen: please have at it. again, these are not tariffs that china is paying, that technically u.s. importers pay them and the burden is borne by companies in the united states, importers in the united states and ultimately consumers. and i know that the federal reserve put out a paper about who so far has been bearing that burden and it is being passed on
6:09 am
to u.s. conses percent. john, how do you think this plays out. looking at the economic data, look at what the market did yesterday and it was -- seemed like people on wall street woke up to the fact that this could be a really long battle with china and that we could put a 25% tariff on every dollar of imports coming into the u.s. from china. but we also have new home sales down, existing home sales down. 14 straight months. the flash pmi, the purchasing manufacturers index for the u.s. at a nine and-a-half year low yesterday. the 10 year yield lowest since october of 2017 which you pointed out. what are we watching in the months ahead? you talk about the whole farm economy, it's flat on its back. it looks bad. >> yeah, the farm economy is certainly getting slammed by this. i would also say watch u.s. manufacturers. manufacturing production in the united states hasn't risen this year. it's been down three out of four months which is one of the reasons why i raise the dollar,
6:10 am
a stronger dollar hurts american manufacturers. so a lot of people started this year thinking that the u.s. growth was going to slow after having a really good year in 2018. it didn't happen in the first quarter. we had strong first quarter growth. some of the economists i talk to are saying well, now it's happening in the second quarter. we're seeing some of this slowdown materialize. so i think you have to look at the farm sector. i think you have to look at the manufacturing sector. housing probably has a little bit of a tail wind to it, just because interest rates are coming down so much. but i think we're at a point where markets are sending a signal that these global pressures could affect the u.s. economy in 2019. dagen: really quickly. do you think, based on your reporting, do you think the fed is forced to cut between now and the end of the year? >> well, that's certainly the
6:11 am
debate they're engaged in. the debate they were engaged in last year was how many times did they raise rates. that's off the table. the debate they're engaged in right now is do they cut and they want to see what the data look like. they want to see what -- in particular, what inflation data looks like. again, i'm coming back to the strong dollar. a strong dollar puts downward pressure on import prices and that could be a factor that leads the fed to cut interest rates later this year. they're not ready to do it. that's what they're talking about. dagen: john, great to see you. have a great weekend. john hilsenrath. the best. missouri's capital still reeling after that powerful tornado touched down late wednesday. cheryl casone has that and more. cheryl: good morning. a curfew ending last hour in parts of jefferson city after violent tornado left people digging through the rubble of their destroyed homes. >> within two seconds the side
6:12 am
of my house was gone. we were being hit with bricks, the roof. it was a terrifying moment. i'm still scared. cheryl: governor mike parson toured the damage in jasper county where a tornado ripped off roofs and leveled homes for 22 minutes. it ended up here in golden city, three people were killed. meanwhile, record high water along the mississippi could force officials to open a spillway for the third time ever and this move could flood a major part of rural louisiana. engineers are reporting minimal damage after two barges broke loose yesterday. this happened on arkansas river in oklahoma. well, president trump and first lady melania trump making an unannounced visit to arlington national cemetery ahead of memorial day. the president typically delivers remarks on the holiday. but president trumps is going to be in japan on monday.
6:13 am
he is going to be leaving for that trip later today. well, the boeing 737 max fleet could be back in the sky, get this, as early as the summer. reuters is reporting the faa expects the planes to be off the ground as early as late june. the 737 max jets have been grounded since march after two deadly crashes. what's interesting is the acting faa administrator had said as much time as it takes to make sure the jet is safe. now it could be this summer and that's earlier than the industry had been expecting. dagen: cheryl, thank you so much. see you soon. coming up, investigating the investigators, president trump ordering attorney general bill barr to declassify documents related to the russia probe. the fallsou l -- the fallout, st ahead. ♪ all you have to do is stay a minute. ♪ the clock is ticking. ♪ so stay. ♪ all have you to do is wait a second. ♪
6:14 am
(vo) i know what you're thinking. electric, it's not for you. and, you're probably right. electric just doesn't have enough range. it will never survive the winter. charging stations? good luck finding one of those. so, maybe an electric car isn't for you after all. or, is it? ♪ i'm workin♪ to make each day a little sweeter. to give every idea the perfect soundtrack. ♪ to make each journey more elegant. at adp we're designing a better way to work, so you can achieve what you're working for. since my dvt blood clot i was thinking... could there be another around the corner? or could it turn out differently? i wanted to help protect myself. my doctor recommended eliquis. eliquis is proven to treat and help prevent another dvt or pe blood clot...
6:15 am
almost 98 percent of patients on eliquis didn't experience another. ...and eliquis has significantly less major bleeding than the standard treatment. eliquis is fda approved and has both. don't stop eliquis unless your doctor tells you to. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. if you had a spinal injection while on eliquis call your doctor right away if you have tingling, numbness, or muscle weakness. while taking eliquis, you may bruise more easily... and it may take longer than usual for bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures. what's around the corner could be surprising. ask your doctor about eliquis. can the past help you write the future? can you feel calm in the eye of a storm?
6:16 am
can you do more with less? can you raise the bar while reducing your footprint? for our 100 years we've been answering the questions of today to meet the energy needs of tomorrow. southern company
6:17 am
dagen: we have a big show coming up this morning. ohio congressman veteran brad winstrop. john hoshmeister. fox news contributor newt gingrich, maybe he will give speaker pelosi some advice on what impeachment proceedings would do to her party. and women's world cup veteran alley wagner and chuck fleischman. you don't want to miss any of these guests. turning to the war of words on capitol hill, president trump and nancy pelosi trading barbing this week. pelosi continues to not mince words about what she describes as the president's temper tantrum and the president not sitting by silently. >> another temper tantrum, again. i pray for the president of the united states. i wish that his family or his
6:18 am
administration or his staff would have an intervention for the good of the country. this is not behavior tha rises o the dignity of the office of president of the united states. >> i walked into the cabinet room. you had the group, crying chuck, crazy nancy, i tell you what. i've been watching her and i have been watching her for a long period of time. she's not the same person. dagen: joining the conversation this morning, fox news contributor, columnist for the l hill, liz pete, jonas ferris, radio talk show host, senior felfellow, richard fowler. welcome one and all. thanks for throwing shade, nancy. liz pete to you first. do you think speaker pelosi will ever start impeachment proceedings? there's a great deal more pressure. that's why she's using language to try to apiece part of her
6:19 am
base. >> looks like they want to get as close as the they can to appe the feisty members of her caucus but not get there. i think it's a tough line she's trying to walk. what's tragic about all this, there really are things that the country wants our president and the house and the senate to get together on. obviously infrastructure is number one. hugely popular. i don't think anything is going to get doubl done. i think this is political posturing. nancy pelosi wants to go to the country in 2020 and say yes, we tried to do infrastructure but the white house obstructed. the white house is doing the same thing. dagen: she is throwing so much shade at the president, it's like she hired a new joke writer or a speech writer. she was talking about we could have made him thomas jefferson or teddy roosevelt or we could have given him the infrastructure of the twight dwt
6:20 am
david eisenhower administration she has to worried about the centrist in the party who helped her win that job back, many of the 41 democrats that won seats during the mid term elections, how does she navigate this? >> i think nancy pelosi has a tough line she's walking. the president also mass a very tough line as well. remember, this is the president's agenda. he needs to get usmca through, he needs to get infrastructure through. if you learned anything from history, when bill clinton was being impeached, he still managed to balance the budget, he managed to work with newt gingrich and senate republicans to get so many things done for the american people. the president has to put the investigations aside and say i've got to get things done for the american people. dagen: will nancy pelosi move on usmca? she didn't do it with bush. >> this is about the president -- this is not nancy pelosi's agenda, this is donald trump's
6:21 am
agenda, not hers. it's about the president needing to get things done. the investigations and oversight are going to continue for the foreseeable future. dagen: does this country need this infrastructure? real quick. >> of course it needs infrastructure. dagen: does it need the spending? >> you need spending to have infrastructure. one goes with the other. we're not going to get it. but we need it. what can i tell you. >> and we need the new nafta deal. i think it's pretty clear. democrats have assailed trump for not participating in international agreements. this is an important one. dagen: coming up, free tuition offered, disney teaming up with a florida university to make some college dreams come true. and patriotism on the tracks, nascar, next. run with us.
6:22 am
in the unstoppable john deere gator™ xuv835.
6:23 am
and be prepared to go the extra mile. because when others take rain checks... ...we take the wheel. with 3-wide seating, heat & a/c. this is the coolest, most comfortable gator™ yet. nothing runs like a deere™. run with us. ♪ test drive a gator™ xuv835 at your john deere dealer today.
6:24 am
it's a revolution in sleep. the sleep number 360 smart bed is on sale now during our memorial day sale. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to hit the ground running. only at a sleep number store. save $1,000 on the new queen sleep number 360 special edition smart bed, only $1,799. plus, 0% interest for 36 months. ends monday. sleep number. proven, quality sleep.
6:25 am
dagen: headlines across america this morning. the los angeles times reporting a bill to put health warnings on soda and sugary drinks advances in california. the bill would require labels on drinks with added sweeteners that contain 75 calories or more per 12-ounces and warnings that beverages withed added sugar my contribute to obesity and die ad diabetes and tooth decay. the chicago sun times reports that shy ca chicago's populatios declining. it remains the third largest city with 2.7 million residents, the population numbers took a hit, dipping by 7,000. and the orlando sentinel says disney will pick up the tab for workers to enroll at ucf, the university of central florida. a lot to choose from for disney workers who take advantage of the offer. undergraduate and master's degree programs at ucf from
6:26 am
biology, nursing, education, entertainment management and an online masters degree in hospitality and tourism management. this is what a great economy gets you. >> it's not a mickey mouse kind of event. dagen: how long did it take you to work that out? >> about 30 seconds. i don't think it was just chicago losing population. i think that article also talked about los angeles and new york. what is the unifying thread there? democratic mismanagement of these great cities. i'll tell you what, new york is in trouble. quality of life in new york is going down. taxes are out of control. frankly, i'm surprised about this california bill which is labeling because every place else they're trying to put on taxes on sugary sodas. whatever it is in these cities, they're being taxed, i think it's horrifying. >> people like warm weather i think you're underestimating that. people can move to warm places, they don't have to stay in cold, lousy places. dagen: they can move to states with no income tax like florida
6:27 am
and nevada. >> will they put photos like they do with cigarettes, they'll be fat shaming pictures on the soda cans. dagen: is that an idea? >> i'm throwing it out there. >> i think the decline of population, it's really expensive to live in cities. i think if you're raising a family, if you're in the middle class, if you're a nurse, if you're a teacher, if you're an educator, if you're a janitor, you're like i cannot afford to live in a major city so moving to a suburb or moving to sub-urban area, it's cheaper. dagen: i want to add this. americans are good-hearted and they do want to take care of those who are most in need, those who are most vulnerable. in a city like new york and other major cities, we're taxed to the top of our heads under the current mayor, the situation has worsened with children's services, with homelessness, with public housing, with mental health. every area designed to take care of the neediest new yorkers is
6:28 am
failing them and they want to throw more money at it when they're pouring money down the drain. that's what people have a problem with. >> the other problem you have is infrastructure. you have a problem with public transportation many many of these cities where folks who live on the outskirts on the city itself, the city limits, cannot afford to get into the city because of unreliable transportation. >> it's getting more expensive. the quality of life is going down. you had a rollback on broken windows policing. crime is up. homelessness is up. people are allowed to urinate on the streets. it's appalling. dagen: jonas grew up in manhattan in the '70s, is it as bad now as it was then. >> it's never been so good in the city. in the '70s, trains were covered in spray paint ande and scratched up. you got robbed everywhere. there was huge mugging rates. there were prostitutes all over
6:29 am
midtown. you have no idea how much better the city is now. >> we're going in the wrong direction. >> i think we can agree that broken windows and stop and frisk were failed policies. i think crime has gone down overall. i think you have a larger problem with the failure in funding l.a. went on a strike because there was no funding in a classroom. students had to rush to class to get a seat. dagen: we've got to go. the mayor gave his wife so far more than half a billion dollars, it's looking at three
6:30 am
quarters of a billion dollars for mental health purposes and they don't have -- they can't show anything for it. and i think that's what people are frustrated about. we want to take care of the most vulnerable and these politicians and bar bureaucrats fail us. coming up, declassifying documents, president trump looking to make intelligence material related to the russia probe public. details ahead. and tesla's comeback, elon musk's comments sparking rebound. what he says, straight ahead. ♪ i'll follow you until you love me. ♪ papa, paparazzi. ♪ babe by there's no other superstar you know that i'll be. ♪ papa, papa ray sigh. -- papav paparazi. because when it's decision time... you need decision tech. only from fidelity.
6:31 am
.. the introducing the all-new 2019 ford ranger, it's the right gear. with a terrain management system for... this. a bash plate for... that. an electronic locking rear differential for... yeah... this. heading to the supermarket? get any truck. heading out here? get the ford ranger. the only adventure gear built ford tough.
6:32 am
going back to the doctor just for a shot. with neulasta onpro... ...patients get their day back... be with... ... family... ...or just to sleep in. strong chemo can put you at risk of serious infection. in a key study... ...neulasta reduced the risk of infection from 17%... 1%... ...a 94% decrease. neulasta onpro is designed to deliver... ...neulasta the day after chemo... ...and is used by most patients today. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if you're allergic to it or neupogen (filgrastim).
6:33 am
an incomplete dose could increase infection risk. ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries and capillary leak syndrome... ...have occurred. report abdominal or shoulder tip pain, trouble breathing... ... or allergic reactions to your doctor right away in patients with sickle cell disorders, serious, sometimes... ...fatal crises can occur. the most common side effect... is bone and muscle ache. ask your doctor... ...about neulasta onpro. pay no more than $5 per dose with copay card. dagen: i am dagan mcdowell, it is friday, may 24th, top stories at 6:30 eastern,
6:34 am
futures showing the markets that friar open, no pressure from teresa mae's resignation. she will be leaving the office of prime minister in early june. still a rebound in the making, 170 point gain on the dow futures after yesterday's bruising selloff, you'll in global growth fears driving the selloff. wall street and investors have woken up the the fight with china could go on past the 2020 election. could we put a 25% tariff on every dollar of imports coming in from china? maybe. breaking news out of the uk. british prime mister teresa mae announcing resignation stepping down a leader of her party june 7th. she will stay through the process to find a replacement. europe markets up across the board, biggest gain of the cac quarante. in asia overnight markets were mixed.
6:35 am
in shanghai, the hang seng, hong kong. investigating the investigator donald trump ordering william barr to declassify document related to the spying on the trump campaign. we have the latest. retirement in america. the house of representatives approving changes to the retirement system. what it could mean for savings not just for your golden years but your years period. tesla snapping its losing streak after the production rate of model 3 and nascar salutes america's heroes. a look at the special paint schemes that will be on the track on memorial day at the coca-cola 600. every car honors somebody, an individual who made the ultimate sacrifice. our top story this half-hour investigating the investigators, donald trump authorizing william barr to declassify information about the origin of the russia investigation. no timeline has been revealed when this will happen. joining us is, the defense
6:36 am
attorney david bruno. this was somewhat expected but what do you make of it? >> it is big because so many attacks trump is covering up and this is the opposite. let everyone see it, be transparent and this is important when we talk about the ig report coming out on the fisa abuse because that's one of the things he is able to declassify, the carter page fisa abuse and george papadopoulos initial reasons for opening the case. dagen: with that inspector general report to we have a sense when this might happen in disorder to the attorney general which was directed at the intelligence agency telling them to cooperate with the review that is going on in the justice department? >> the ig report should be coming out in a couple months. we will get that. dagen: might be a matter of weeks. >> it is coming and this is a sign it is coming.
6:37 am
most of that fisa abuse information would have been classified. for them to do this now is a good sign on that front but the order for the head agencies to cooperate is nothing new. they would have had to cooperate anyway. that's not the big story. it is the ability of attorney general bar without any direction from the president to do it himself. he had the absolute power right now to make the decision himself to do these things. dagen: it is not a criminal investigation. >> it has got to be if it is a department of justice investigation. dagen: it is a review, it is called a review as it stands. correct me if i am wrong, as it stands, john durham, the connecticut us attorney overseeing this, just in the review, he does not have subpoena power. >> the ig? dagen: we are talking within
6:38 am
the justice department. the ig could make criminal referrals. john durham's review within justice is just a review we are not calling an investigation. >> what would ramp it up to that level? what further step is necessary from the white house and doj to make it a criminal investigation? >> i think it could go to a criminal investigation at any point and may be reviewed still but have to find evidence of a crime. that is what the department of justice does. they are the prosecuting agency. >> two years of investigating trump without evidence of a crime at least what the president maintains and what the mueller report says. >> i agree. dagen: this order is without precedent for the most part and
6:39 am
does mark a dramatic escalation in the power of the attorney general. >> an interesting move by the president, he's trying to play offense and trying to deal with this congress. the question i have is how does this president, that the fact that on capitol hill there is a move where the white house continues to disobey subpoena after subpoena after subpoena and it seems the federal court from what we have seen seems to side with congress that you have to abide by these subpoenas? >> we had two recent court decisions which said the financial institutions have to provide document as a result of the subpoena. i do agree when it lands in the courts these witnesses are going to be compelled to testify. dagen: not don mcgann, that is executive privilege. >> there are privileges. privilege would be the one
6:40 am
reason a witness could not. fifth amendment privilege, executive privilege, whatever privileges exist have to be invoked but i disagree that don mcgann shouldn't have appeared. he should have appeared and invoked those privileges personally. dagen: that a set of political theater, to go in and not answer any questions and everyone will say we know they are covering up everything. why would the white house allow that? >> i pushed back a little bit because if this president given this president needs to win this upcoming election and if he's trying to play the role as a victim and congress is out to get me and this is a witchhunt, then covering it up and not following he plays into this idea. >> that is a reference to the nixon problem where he left office - invoking that language intentionally.
6:41 am
i can explain this? i don't know the president at all but he cooperated so much. and the tax record for deutsche bank for capital one financial information. congress has broad oversight power. he doesn't have executive privilege over that information but when he does when talking about white house counsel there is no way that president is going to allow people where he can invoke executive privilege to sit in front of congress. don mcgann talked to bob mueller because bob mueller worked in the executive branch. >> the white house has lost this battle before around the council nontestifying. when george bush lost in the courts harriet myers had to go down and testify so playing this game is a losing battle
6:42 am
for posturing purposes when you know you will lose and president is not on your side. >> all that matters is what is in the trunk. when you pull someone over incorrectly and have weed in the back and you get off in court but in this case the american people are not going to care if you were pulled over incorrectly. there is a body in the trunk you are going down as the president. dagen: we had a big schoolbus called the mueller report and wednesday pulled in front of the school and opened the doors you know what was in there? no conspiracy, no cooperation with russia? you can make the argument in the second part of it whether there was obstruction. no charges - they did look in the trunk and there was nothing there with russia problem. they are continuing to dig for information. >> volume 2 was definitely -- dagen: if you think -- >> possible instruction of justice.
6:43 am
dagen: if you think there was obstruction then nancy pelosi has to bring it. >> i'm not saying mueller -- he was clear, i can't come to the conclusion but i definitely think there is something to be looked into by congress. >> will be acceptable in a lot of people's heads if there's nothing in the trunk. you tell the cops some lie and you open the trunk you will not get as much trouble. dagen: there is no crime and you obstructed no crime. that makes sense to the american people. the us filing new charges against julian assange. cheryl: the justice department unveiling 17 additional criminal charges against assange accusing him of violating the espionage act. the wiki leaks found unlawfully published the names of classified sources and conspired with chelsea manning to obtain classified information.
6:44 am
assange's lawyers pose a threat to all journalists doing their job. the house have approved a bill to make major changes to the country's retirement system. easier for small businesses to band together and offer retirement plans, would also allow part-time workers to save for retirement making it easier for workers to transfer retirement plans if they decide to change jobs. they draw from retirement savings rates to 72, the bill goes to the senate and those are your headlines. dagen: you like this retirement program? why not? >> i have to deal with these -- it is a mess, none of that is changed. this happens to be a tax advantage plan, letting people who need to put ira money after 70, not even middle-class people, they have plenty of money in their ira already. this isn't helping the problem have the country hasn't saved enough.
6:45 am
>> donald trump -- isn't doing anything congress is doing a lot of things. dagen: democrat handout to the rich. coming up heads turnaround. elon musk triggering a comeback, what he said and honoring our heroes, nascar next. ♪ ♪
6:46 am
at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. thank you. there is reward. beyond the classroom... there is inspiration. ♪ ♪ beyond work and life... who else could he be? that's what i say. there is the moment. (laughing) beyond despair... there is hope. ♪ ♪ stay safe. i love you mom. i love you too, sweetheart. ♪ ♪ beyond treatment... ♪ ♪ there is care. say hi to grandma and grandpa. ♪ ♪ beyond technology... there is human ingenuity. every day, comcast business is helping businesses big and small go beyond the expected, to do the extraordinary. take your business beyond.
6:47 am
6:48 am
ifor another 150 years. the fire going ♪ to inspire confidence through style. ♪ i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ at adp we're designing a better way to work, so you can achieve what you're working for. ♪ dagen: toronto one win away from the finals was what have you got? >> underdogs of 7 points.
6:49 am
game 5 in milwaukee, home team won every game until last night. a 14 point lead slip away, milwaukee loses three straight, 35, they need to win tomorrow, the raptors will go to the finals. a couple green bay packers were at the game in milwaukee to support the bucks show off their skills. one of them, lineman puts them down like he is drinking cold you who. aaron rogers not so much, he accepts the beer tiger challenge and i don't know how you folks chug beer but this is the style i would do and he is not quite the trigger and loses out, the brewers outside with him. at memorial day, we pay tribute to fallen heroes, nascar revved up to do it in a big way. let's look at patriotic themes we will see on the cars in sunday's coca-cola charlotte
6:50 am
mugger speedway, the longest race at nascar. william buyer the youngest to capture the pole. dagan is a lifelong racing fan and proud american, has to make you feel special. dagen: it should make everybody feel special when nascar does that job remembering those who made the ultimate sacrifice and reminding this country freedom isn't free. every single race. catch jared at sports report on serious xm 115. tesla's you turn, the succession losing streak, a leak, more ahead. ♪ brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage,
6:51 am
should you need it. so you can explore all the amazing things ahead. talk to your advisor about brighthouse smartcare. brighthouse financial. build for what's ahead℠ brighthouse financial. at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond.
6:52 am
because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond.
6:53 am
6:54 am
dagen: tesla stock rebounding after 6 days of losses. a leaked memo from elon musk telling employees orders are up. rebecca, the greatest auto analyst, good to see you. what is happening with tesla? >> a lot of uncertainty. people are finally looking and saying this may not be the full positive note he has always been releasing and stock is suffering as a result a lot of uncertainty and confusion in many ways about what is happening. internally at tesla and what consumers are doing externally. dagen: what do you mean internally? in terms of production numbers? what about the funding issue? how much company needs in the next humans? >> the free cash flow is a problem.
6:55 am
the auto industry is famous for going through cash like nobody's business. that is a big concern. there's been a lot of disruption with the executives as well. a lot of people leaving, a lot of legacy has left the company in a short time. >> let's get off the free cash flow problem and the car is cooler than the competition. you wrote a review of the bmw are free which is the same price point as that cheaper tesla. you've driven a tesla, you like it. is that of how much cooler it is in the competition closing as they take this electric car into the higher end tesla range? >> and that will provide an incredible amount of competition. we are talking 1.4% of new car sales are electric field bulls -- vehicles. a company that doesn't have a
6:56 am
lot of drama surrounding its ownership, people gravitate towards that company and the other thing is they get a full tax credit which they don't have with tesla after june 1st. >> how will the china trade tensions affect tesla moving forward? >> they are building a factory in china doing a lot of local production but china itself isn't growing as quickly as anticipated and all these other companies are competing in china as well. my concern is if they couldn't make a profit when they were in the playing field by themselves are they going to make a profit today? dagen: does tesla get acquired ultimately? >> that is a great question and something to watch but who would take on the drama? dagen: you need elon musk but don't want him. made you laugh, thank you so much. good to see you, still had, oil
6:57 am
prices despite rising tensions with iran. next hour, "mornings with maria". ♪ how do you determine the durable value of a business in the transportation industry without knowing firsthand the unique challenges in that sector. coming out here, seeing the infrastructure firsthand, talking with the people behind the numbers creates a different picture. once i know what a business is truly worth, we can make better informed investment decisions. that's why i go beyond the numbers. ♪ . . . let me ask you something. can the past help you write the future? can you feel calm in the eye of a storm? can you do more with less? can you raise the bar while reducing your footprint?
6:58 am
for our 100 years we've been answering the questions of today to meet the energy needs of tomorrow. southern company
6:59 am
7:00 am
dagen: good morning. i'm dagen mcdowell, in for maria bartiromo. it's friday, may 24th. your top stories at 7:00 a.m. eastern. breaking news, british prime minister theresa may announcing her resignation. she will be stepping down as leader of her party on june 7th. but will stay on until her replacement has been chosen. futures here at home showing the market set for a higher open at 166 point gain on the dow futures. this moving into the long memorial day weekend. bond market closes at 2:00 p.m. eastern today. stock market open all day long. usual trading day here. this after yesterday's selloff on all three major market gauges. the dow shedding 286 points. the dow was down more than 400 points at the lows for the
7:01 am
session. energy and technology stocks leading the plunge. in europe we have gains across the board, in england, france and germany. a asia overnight, markets mixed there, gains in shanghai and hang seng. china trade turmoil president trump saying huawei is dangerous but could be part of a trade deal. oil in focus, crude posting the biggest decline of the year yesterday but recovering this morning. more on that, plus a look at holiday gas prices. the spacex falcon 9 taking off. why this lawn of i lawn of is sh is so important for global internet coverage. and uber heading under the sea. details later this hour. here to break it down, liz pete, jonas max ferris and fox news contributor richard fowler. welcome one and all. >> happy prelabor day. >> is uber going submarine?
7:02 am
what is that, uber below the sea. i can't wait to hear. dial up your favorite submarine. dagen: it won't be in north america. that's my tease. >> thank you. i was worried. dagen: coming up, former shell oil president, john hoshmeister and newt gingrich on the perils of impeachment. alley wagner and clubbing fleischman, michael sonfelt, you don't want to miss any of our guests coming up. digging deeper, president trump giving attorney general bill barr the green light to declassify information about the origins of the russia investigation. in a statement released yesterday, the white house writing this. today's action will help ensure that all americans learn the truth about the events that occurred and the actions that were taken during the last presidential election and will restore confidence in our public institutions. joining us now, ohio congressman, member of the house
7:03 am
ways an means and intelligence committee, brad winstrop. good to see you. >> good to see you too. dagen: since you're on the intelligence committee remarks do you make of this order from president trump that it really is quite a dramatic escalation for the attorney general in terms of power. it has little precedent. when do you think americans start to see some of this declassified information? >> well, i'm not exactly sure the time line. but unfortunately, i do feel the need to go in this direction. we've heard for a couple years about russian collusion. we know what the mueller report said. and yet we continue to see this bantering taking place. what's bothered us on the intelligence committee, especially on the republican side, is how by the media and everywhere else there's been such an avoidance of talking about what took place within the fbi, doj, possibly
7:04 am
internationally, in attempts to get into the trump campaign, how they used the fisa court, all of these things, i think the american people need to know. and we may have a real need to make changes on how we do our business and there may be legal implications as to how conduct was performed. and quite frankly, i want the people to be able to trust their agencies. and if we don't clean them up, if we don't bring things and make it transparent to the american people and get rid of people that did things incorrectly or illegally, then we'll never gain that trust again. so i think it's important. it's unfortunate. i never thought i'd see something like this happen in america. >> congressman, a question for you. there has been some interest in asking britain to turn over the documents and information they have about the christopher steele undertaking, the member he mows, et cetera. where does that stand? do you have any idea? the change of government in the u.k., is that going to make any difference? >> i don't know if that will make a difference. it possibly could.
7:05 am
but devin nunes has sent a letter actual throw the u.k., because there's -- look, there's no doubt that british intelligence would have some oversight and be watching christopher steele. and the steele dossier. the question is, at what point if any did they look at this and weigh in on it and then inform their counterparts in the united states. in other words, did the british at any time, their intelligence sources, say to the united states, to the fbi, that hey, this thing is a joke. this thing is not verified. you shouldn't be moving forward with using this. and we want to know that because that's the type of things that we're discovering now and yet it was used four times in a fisa warrant to go spy on american citizens. so it really is something we need to be concerned about and i think that america needs to know all that took place, if we are to be a government of the people, we have to have oversight over these agencies
7:06 am
and their actions. >> congressman, thanks for joining the program this morning. a question about the heartland, and your district. how are your farmers faring with the new trade tensions in china? >> well, actually farmers have been pretty resilient. not each and every one, but they say through this whole thing, look, this has been a challenge for us for years and if we can come out with a better deal at at the end of the day, we're all for it. now you hear the president talking about trying to make some amends to our farmers until we get something done, but i also look at the deal with china as something a little bit more than just a trade deal. it's a national security issue. and so there are a lot of things that china has been doing as far as stealing our property. this is a big picture deal and i think that's why it's taken so long. >> how long do you think you it will take, congressman, for the president to get a deal? >> well, i don't know. but you i do know that for china, it's hurting them more than it's hurting us and so at
7:07 am
the end of the day, we do want to get something done and so do they. but what we don't want to have happen anymore is for them to be able to do things like build and enhance their military on the backs of the united states of america. dagen: if you read the wall street journal editorial today, congressman, they hammer, hammer home what is going on in the farm communities in this country. the title of it is trump's trouble in the farm belt and it reads in part, the argument for enduring this pain is that the price of getting china to change its predatory trade practices. short-term pain for some will lead to long-term gain for everyone. the game theory is that mr. trump has to show china's xi-jinping that he is willing to absorb more pain for longer than mr. xi can but then the pain is in kansas and not in washington and in fact, in nebraska last year ranked 49th among the 50 states in personal income growth
7:08 am
per capita. kansas was 46, missouri was 33rd, iowa was 25th and basically these communities have been hammered and we keep hearing anecdotally that the farmers are still sticking with president trump but if these numbers tell us anything, i don't know about that. >> well, you're right. i mean, going back to the very beginning when farmers would say we're with the president, we want him to get this done, we'll take some of that short-term pain. but what is short? and that was their question then. like how long can we do this? and i think the president realizes that, that's why he putting forward proposals in an effort to try to help the farmers through this process. one of the proposals he's saying is some of the revenue generated from the tariffs can somehow get back to the farmers and help them through this process. dagen: it's american importers that are paying the tariffs and ultimately american consumers. so we're essentially it's -- it's welfare to farmers.
7:09 am
naturalers don't have any other -- farmers don't have any choice but taking it at this point. they hate it. trade not aid is what i've heard over and over again. >> i'm assuming your district is more manufacturing than farming really. and that is a sector i think that is perhaps more vulnerable. what are your people in that industry saying, what are the manufacturers saying to you? >> well, my district is everything, actually, because i have part of urban cincinnati and then i go along the ohio river and it's more rural and so we have manufacturing, farming and the urban environment as well. so manufacturers are pleased with how the economy is growing a and the opportunities within the manufacturing sector. we would all like to get to zero tariffs. there's no doubt about that. i think the u.s., mexico, canada agreement has great opportunities for us and i would be surprised if we can't get that through. there were so many things put
7:10 am
into that to please both sides of the aisle. and i think it's good for the american worker, for the american economy, and i think you're going to see a lot of support for that. so that will help, if we can keep that ball rolling and get moving on that, especially in congress. >> how do year in he row tariffs -- how are zero tariffs ever going to solve a problem, whether from china or vietnam or some other country. they have major cost savings and they shirk all the environmental rules that we have for manufacturers here. you would have to have a tariff all the time to adjust for that. otherwife's, if we keep pushing on china, won't the jobs and the factories go to another country that doesn't mind about poll lieutenanting or paying -- poo polluting or paying healthcare, how is the zero tariff situation going to fix that? >> i think what the president is doing is using those tariffs through the negotiation process but at the end would like to get to zero tariffs and i'm pleased that you brought up what you talked about with the
7:11 am
environment there. because as long as the united states is making great gains, and we have on improving our environmental conditions and other countries are not, there really is not much of a net effect. my sister brought up a point. she says if the united states is doing everything right and nobody l else is, it's like having a no smoking section on a plane. this is not an easy process, let's face it. i think we're trying to address as many things as we possibly can. one environmental, one labor conditions. you see that in the deal with mexico and canada. hopefully we can do that around the world but this is not an easy process and at the end of the day you've got to bring a lot of people to the table, that being the united states congress. >> thank. dagen: good to see you, congressman. congressman, have a great weekend. >> thank you. dagen: coming up, a chapter closing for british prime minister theresa marks she announced her resignation as the head of the party. she will stay on until a
7:12 am
replacement is chosen. uber below the surface, the company launching a unique ride share experience down under. details, straight ahead. ♪ all we need is somebody to lean on. ♪ ...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.
7:13 am
no matter what you trade, at fidelity touch shows how we really feel. but does psoriasis ever get in the way? embrace the chance of 100% clear skin with taltz, the first and only treatment of its kind offering people with moderate to severe psoriasis a chance at 100% clear skin. with taltz, up to 90% of people quickly saw a significant improvement of their psoriasis plaques. don't use if you're allergic to taltz. before starting, you should be checked for tuberculosis. taltz may increase risk of infections and lower your ability to fight them. tell your doctor if you have an infection, symptoms, or received a vaccine or plan to. inflammatory bowel disease can happen with taltz, including worsening of symptoms. serious allergic reactions can occur. ready for a chance at 100% clear skin? ask your doctor about taltz.
7:14 am
7:15 am
dagen: breaking news, britain's prime minister announcing she is stepping down as leader of the party. cheryl casone has the details. cheryl: big breaking news this morning. theresa may announced a couple he'll hours ago she's going to resign. she was outside of 10 downing street. >> it is now clear to me that it is in the best interest of the country for a new prime minister so i am today announcing that you i will resign as leader of the conservative and unionist party on friday the seventh of june. so that a successor can be chosen. cheryl: may stepping down after failing to win support in parliament for her plan for the
7:16 am
united kingdom to leave the european union. she will stay on as prime minister until her replacement is chosen. may getting emotional at the end saying it was the honor of her life to serve the country that she loves. she was britain's only second female prime minister. well, the biggest talent agency in hollywood is going public. endeavor group which owns ultimate fighting championship and the miss universe pageant pt filing for an ipo. they are going to trade on the nenew york stock exchange. spacex closer to making he global internet coverage a reality, launching 60 satellites overnight. >> three, two, one, zero, ignition, liftoff. cheryl: the falcon 9 rocket took off from cape canaveral, florida, lighting up the sky as
7:17 am
you can see. pretty cool. spacex hopes to launch a mega constellation in the next few years to beam cheap internet around the world. and there is this, from outer space to under the sea. uber launching an underwater ride hailing service, called scuber. the partnership with the ought trailan state of queensland, it will take passengers for a trip through australia's great barrier reef. the limited time service runs from this monday through june 18th. the cost, about $1,000 per person. a grand per person but honestly, i've been to the barrier reef and it's totally worth it. dagen: i love it. and i'm jealous. >> they better have that air freshener in that. >> you better have a five star rating if you're going to be scuber me. >> it was a submarine. dagen: it was a submarine. coming up, crude in focus, it's coming off the worst day of the
7:18 am
year despite rising tensions with iran, more on that. plus, an outlook for you. those pump prices, where are they headed. stunning video of a robot dog, well, pulling what? you'll find out. ♪ don't tell me heart. ♪ my achy, breaky heart. ♪ i just don't think it would understand. ♪ and if you tell me heart, my achy, breaky heart. ♪
7:19 am
the doctor's office might mejust for a shot.o but why go back there when you can stay home with neulasta® onpro? strong chemo can put you at risk of serious infection. in a key study neulasta® reduced the risk of infection from 17% to 1% a 94% decrease. neulasta® onpro is designed to deliver neulasta® the day after chemo and is used by most patients today. neulasta® is for certain cancer patients receiving strong chemotherapy. do not take neulasta® if you're allergic to it or neupogen (filgrastim).
7:20 am
an incomplete dose could increase infection risk. ruptured spleen, sometimes fatal as well as serious lung problems allergic reactions, kidney injuries and capillary leak syndrome have occurred. report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. in patients with sickle cell disorders, serious, sometimes fatal crises can occur. the most common side effect is bone and muscle ache. if you'd rather be home ask your doctor about neulasta® onpro. pay no more than $5 per dose with copay card.
7:21 am
dagen: welcome back. futures pointing to gains a across the board this morning, 160 point gain on the dow futures right now. the dow shedding 286 points yesterday. a big broad selloff, worries about how long this fight with
7:22 am
china over trade will last and what the impact here on the united states' economy will be. we're watching commodities, oil prices posting the biggest dip of the year yesterday, trading well below $60 a barrel. concerns over rising inventories, global trade outweighing rising tensions with iran. we are seeing a rebound. it's up 76-cents a barrel. joining me now is former shell oil vice president. good to see you. what do you make of what crude has been doing recently. >> it's going to flip around when there's anied bad news. it always has. never watch traders on a daily basis. they're going to make money every day on the ups and the downs. that's their job. they move molecules, no matter how bad the news might be and whatever the discoun dismight d. i think the saudis are in the driver's seat on oil price. they said last december they want $80 a barrel. they're going to get $80 a
7:23 am
barrel sometime this year or next year. they need it to pay their bills. in addition, we can't really build the infrastructure that we need in the permian basin to get the kind of relief we need from domestic resources and many of those domestic resources are not fit for u.s. refineries. so it doesn't help. we need a certain kind of oil and the light oil coming out of the permian is not what's going to go through texas refineries. so we ship it overseas. that's good from a trading standpoint, not so good from a domestic supply standpoint and ultimately demand is up. there's no question about it that demand for oil and gas in the world today is continuing to rise. maybe not as as fast as it was in the past but it's still rising. >> plus you have some major tension areas like venezuela, obviously iran. but some of the sort of incremental suppliers are obviously struggling to keep production up. what about mexico? because we've had a real change in tenor there.
7:24 am
they were going to privatize their oil industry. that's another one where expectations probably are changing about output down the road. what do you think? >> the wisest decision of the previous administration was to not try to do it all themselves and get help from the experts, mainly the western oil companies. they've now reversed course on that. they now want to do it all with self-help. it's not that they can't do it. it's they can't do it quickly or as quickly as they could with other people's money. so i think it's a setback for mexico and they've seen declining oil production. i think they'll see continued declining oil production in mexico. so they still have plenty of oil but it's a question of how do they manage it. >> i think it's easy to get sidetracked in day-to-day fluctuations in oil, it's so exciting, tied to problems in iran and russia. the longer term picture, they talked about how we're going to have peak oil, and they keep finding more and there's so much in venezuela they can't get it out of the ground because the place is so crazy.
7:25 am
is it peak demand we should worry about? do you think the move to autonomous cars and ride sharing is ultimately good or bad for gasoline demand? is it always going to go lower now or what's the deal? >> there's no question, the fleet electrification will displace gasoline as a major commodity but it's going to be 20 to 30 years for that to occur. meanwhile, we're all going to continue to drive. we're going to continue to buy and sell internal combustion engines. but what a lot of people miss is it's not just the gasoline that's going away, that is going to be an issue for the industry, the growth in other sectors -- so you're not going to displace aviation fuel. you're not going to displace a lot of marine fuel. you're not going to displace a lot of over-the-road freight trucking diesel and most of all you're not going to displace petrochemicals. so all of that comes from oil. and so you're looking out 30, 40 years, none of the majors think they're on a going out of business strategy over the next
7:26 am
30, 40 years because of the other requirements. the whole fleet could electrify and the oil and gas business is still robust. >> people said that about internal combustion engines because they're loud and expensive when the automobile came into play. are they over-confident about the future of oil. >> they look at substitution. what are the threats. the threat to petrochemicals is very low. and the r world just has an appetite for petrochemical products. what the industry is also working on is the new license to operate which is carbon management. if the industry can figure out how to manage its carbon dioxide and manage it down, or manage it out. dagen: carbon capture you're talking about. >> carbon capture or reuse of carbon dioxide, when the industry figures out -- that's a whole new economic sector ready to open up which is getting rid of carbon dioxide. dagen: where are gas prices going to be? >> i think we're headed to over
7:27 am
$3 for sure between now and julw york and california and illinois, they'll be $3.50, moving towards $4 a gallon. i think in the heartland of the nation where today it's still around $2.70, i think they're going to be getting close to $3. dagen: have a great weekend. great to see you, particularly in person. coming up, the war of words on capitol hill, president trump and house speaker nancy pelosi trading barbs a day after their failed infrastructure meeting. what they're saying, ahead. plus, healthcare in america, president trump preparing an executive order on medical bills. more on that initiative, next. ♪ maybe i'm a lonely man who's in the middle of something that he doesn't really understand. ♪ kevin kevin kevin kevin kevin kevin
7:28 am
kevin kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you.
7:29 am
7:30 am
dagen: welcome back. i'm dagen mcdowell, in for maria bartiromo. it is friday, may 24th. your top stories at 7:30 a.m.
7:31 am
eastern. breaking news out of the united kingdom, british prime minister theresa you may announcing her resignation as the head of her party on june 7th. she will stay on as prime minister until lawmakers find her he replacement. here at home, futures pointing to gains this morning as we head into the weekend. a 157 point gain, 69 on the dow futures at the moment reversing that major selloff yesterday. investors rattled by china trade, global growth fears. wall street waking up to the fact that the china trade situation may not get resolved in the next few months. in europe we have gains across the board as well. the cac in france and the dax in germany both up almost 1%. in asia overnight we had mixed markets. the shanghai composite and hang seng heading higher. healthcare in america, the trump administration ready to sign an executive order to curb surprise medicabilling. the president talked about that and is doing something about
7:32 am
that. foot locker reporting first quarter earnings this morning, a miss on the top and bottom line. shares are down almost 8% in he premarket. and good boy, check out this robot dog who is strong enough to tow -- wait for it -- a jet. right now, our top story this half hour, the president president versus the speaker of the house. president trump and nancy pelosi, the house speaker, trading barbs after their failed infrastructure meeting this week. >> another temper tantrum again. i pray for the president of the united states. i wish his family or his administration or his staff would have an intervention for the good of the country. this is not behavior that rises to the dig any you at thi dignif president of the united states. >> i walked into the cabinet room, you had the group, crying chuck, crazy nancy. i tell you what, i've been watching her and i have been
7:33 am
watching her for a long period of time. she's not the same person. dagen: joining me now, former house speaker, fox news contributor and collusion author, newt gingrich. mr. speaker, newt, good to see you. >> great to see you. dagen: what do you make of the back and forth had here? >> look, i think he pelosi is under great pressure from her rail caradical ring. she said let's not try to impeach him and they blew up. she said well, maybe we'll have to impeach him. trump takes it personally. i mean, one of the differences between clinton in this situation and president trump is clinton knew he had done something wrong and he didn't take it personally. he understood he had live through it. he had to fight it out. he and i could talk like you and i are talking. i think that president trump looks at all the investigations, all the demands, all the lawsuits and he's just fed up
7:34 am
and i think this may be the beginning of the next year, that the two of them are just going to be almost impossible to be in the same room and work together. dagen: where does that leave the country, though? again, this infrastructure plan falls by the wayside. the usmca passage, the new trade deal with mexico and canada, it goes potentially nowhere. there are a lot of things that could have gotten done, potentially, that won't. >> look, reagan had a good rule which is that he took things to the country and got the country to pressure the congress. if the president works with the people in america who want the trade agreement with mexico and canada, they'll bring enough pressure that the congress will pass it, even if -- pelosi in the end can't reject the whole country. she can reject trump. trump's job is going to be don't try to cut a deal with her. i think he could cut a deal with schumer. i think pelosi is possible. he's going to say i want enough
7:35 am
pressure brought on house members that the you house members go to pelosi and say we have to pass this. we don't have to like trump but we have to pass this. i think that's what will happen with the mexico and canadian agreement. dagen: is the far left wing in the party and i mean a jerry nadler and an adam schiff, the committee chiefs, are they louder and more powerful in terms of their pressure on nancy pelosi? do you think that ultimately they do begin impeachment proceedings again and you know this well, that it expands the power of investigation by these committees if they start impeachment proceedings and it narrows the ability of the president to invoke executive privilege. and that's what they want, right? >> i'm not sure that's true. again, they can begin impeachment proceedings. their current argument is we have to do this to get the information. that's sort of backwards. normally, you get the information and then you start impeaching. i think that the president will just -- will fight it out.
7:36 am
president trump when he was in business was very successful using lawyers. and did it all the time. and i think that he is very comfortable -- he's got an attorney general who very distinguished. everybody thinks that barr is a very smart guy. i think the attorney general will be pretty happy to defend him and pretty enthusiastic. barr's a very combative guy. he doesn't go out and pick a fight but he's very willing to fight. dagen: bill barr said, the attorney general said in an interview this week, he said i am defending the presidency. >> dagen: and the power of the executive branch and trying to prevent it from -- that power basically being chipped away at by congress. >> well, he was the attorney general for the first president bush, george h.w. bush. so he has a real sense of the presidency beyond trump as a personality. and i think he's also -- you saw this in the memo he wrote before
7:37 am
he became attorney general. i think he's deeply offended by this whole process by which the deep state tried to destroy the president. i think he has no sympathy with the people who have been out trying to destroy the president, just purely on political grounds, not because he did something wrong, but because they were offended that he got elected. dagen: let's talk about to foes cuss on -- how many time have we heard the words coverup from the democrats, just in recent days. coverup of what? there was incredible cooperation by this administration with the mueller report. we can go through all the details that were on that sign in the rose garden on wednesday. incredible cooperation and there was no conspiracy and there was no cooperation between the trump campaign and russia, period, full stop. so where is the coverup in this? you can argue about the obstruction part of the mueller report. again, if they see something in that, then please feel free, start impeachment proceedings. i think the president is saying i dare you. >> i think he's saying i dare
7:38 am
you, partly because he thinks it's totally to their disadvantage. the whole thing makes the dames look mean and vindictive. when people ask about collusion, i say you mean like deleting 33,000 e-mails, taking a hammer to destroy your cell phones, using bleach bit to destroy the memory of your computer, you mean that kind of obstruction? i wish barr would reopen the question of why was the he very same team that was trying to undermine trump, why were they protecting hillary. to this day, i can't imagine that anybody could delete 33,000 e-mails and destroy their cell phones and destroy their computer memory and not have a serious investigation. dagen: in terms of -- you brought up taking it to the american people. so president trump has given bill barr the authority to declassify information about these russia probes. what do you think happens in the short run? what will americans see from this? >> i think americans are going to see that there was clearly a
7:39 am
conspiracy in the deep state to destroy the candidate for president and then the elected president in a way we've never seen in american history. to me, as a historian, this is an astonishing moment to realize that the top people at the fbi, the attorney general had to be involved, there's that famous secret meeting in the airplane with bill clinton and my guess is that the president and the vice president, which gets back to biden as a candidate, that raises the question, what did debidenknow about all this stuf? two answers, either he was an insider and knew it or they thought he was a doofus and they never let him in the room. either way, biden is involved in this conversation. i think people will be shocked at the depth of the effort both to protect hillary and to destroy trump. dagen: can we show that new yorker cartoon? we were going to show that. but again, the media -- again,
7:40 am
the media -- so many people in the media, this is the latest magazine titled, the shining, shows attorney general bill barr and mitch mcconnell and lindsey graham polishing the president's shoes. this is the narrative from much of the media during the whole russia collusion narrative and now -- well, i'm surprised it isn't coverup related, but -- >> look, i think if you are a liberal and the new yorker certainly represents that market, every morning you get up. there are tweets to remind you who the president is and it drives you crazy. the new york times, the washington post, msnbc, cnn, the new yorker, they've had two and-a-half years of being tortured. i mean, they can't -- this morning, they got awake and he was there again. i think as long as he's president, the left wing of american society will be going nuts. dagen: real quick, do the democrats start impeachment proceedings? >> i think probably in the end
7:41 am
the pressure -- they're pressured to do it. i think it's very hard for pelosi in the end to stop it. dagen: does it go to a full house vote. >> it might. depends what the hearings look like. if you're from a marginal district, trump won a huge victory in the special election in pennsylvania. if i lost that seat, that would have been page one. he won a big victory. if you're one of those democrats who is in a swing seat and you have to go back home and get elected again next year, the pressure against you doing anything on impeachment will get bigger every week. dagen: good to see you. >> good do he se to see you. dagen: have a great weekend. healthcare in america, president trump preparing an executive order on medical bills, more on initiative. check out this robot dog, strong enough to pull a -- a what? a what? a jet. more, ahead. ♪ the lexus es.
7:42 am
every curve, every innovation, every feeling. a product of mastery. lease the 2019 es 350 for $379 a month for 36 months. experience amazing at your lexus dealer. in the unstoppable john deere gator™ xuv835. and be prepared to go the extra mile. because when others take rain checks... ...we take the wheel.
7:43 am
with 3-wide seating, heat & a/c. this is the coolest, most comfortable gator™ yet. nothing runs like a deere™. run with us. ♪ test drive a gator™ xuv835 at your john deere dealer today. can the past help you write the future? can you feel calm in the eye of a storm? can you do more with less? can you raise the bar while reducing your footprint? for our 100 years we've been answering the questions of today to meet the energy needs of tomorrow. southern company
7:44 am
7:45 am
dagen: harvey weinstein reaching a tentative deal in his sexual misconduct case. cheryl casone has more on this. cheryl: a big deal, the tentative settlement worth $44 million. $30 million of it expected to go to alleged victims and former employees. the remaining $14 million paying legal fees. this settlement will not affect the crim criminal case against
7:46 am
weinstein in new york which charges the media mogul with rape and other sex crimes. the trial is set to start in new york in september. president trump gearing up to fight surprise medical bills. wall street journal reporting the president is going to unveil an executive order that would require insurance companies to disclose what they pay for health services. this would mark a major change for the healthcare industry in general. the white house so r far is declining to comment on these reports. and finally, robots, man's best friend? no treat required for the robot dog. it is seen here pulling a 3-ton passenger plane for about 33 feet. the brainchild of the italian institute of technolog technolo. other robot dogs were seen pulling a truck. we're going global with robots. and they've got a lot of power behind them. don't kick them.
7:47 am
>.>> i find them creepy. >> we'll be doing stuff for them. [ laughtethem. lauren: sha .cheryl: i think . >> this will be the video rationalizing overthrowing man kind. >> make sure you pet them when they do something for you. dagen: how do you reward a robot dog? >> i wonder which billionaire's jet they're going to pull. >> let's pull the jet around. >> there was a good robot story yesterday. i think it's amazon who used robots -- dagen: coming up 2019 women's world cup two weeks away. we have a preview, straight ahead. ♪ i've got a love and you i know that it's all min mine, whoa.
7:48 am
♪ do anything that you can to control me, no. ♪ you can't control me. ♪ take me away. woow! yeahhh! there we go! this memorial day, start your summer off right in a new chevrolet. oh, wow!! it's time to upgrade. you guys out did yourselves there. i'm gonna go and get a chevy. an exciting summer begins at your chevy dealer. and now, during the chevy memorial day sales event, get 0% financing for 72 months on these select chevy models. or current gm owners can get twenty seven fifty total cash allowance on this traverse. find new roads at your local chevy dealer.
7:49 am
it's a revolution in sleep. the sleep number 360 smart bed is on sale now during our memorial day sale. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to hit the ground running. only at a sleep number store. save $1,000 on the new queen sleep number 360 special edition smart bed, only $1,799. plus, 0% interest for 36 months. ends monday. sleep number. proven, quality sleep.
7:50 am
7:51 am
dagen: the 2019 women's world cup kicks off in two weeks. joining us now, women's world cup veteran, two time olympic gold medalist, fox sports lead game analyst,all, alley allie w. tell us what to expect in the women's world cup and the coverage and how excited you are. >> the coverage, that's kind of the exciting part for us is that it's going to be the best situation fox has had, ever. 2015, we put a lot of resources forward. 2019 is going to be even better. we've got 22 games over broadcast network and then we've
7:52 am
got the other 27 on at fs-1. we've got a twitter now show that won an emmy last week. we're bringing that back. that's like up to the moment stuff, right. sos that's where the game lives now. you want to go into your -- have that second screen, that capability. >> americans are favored, are they not? >> definitely -- that's ad good question. wh.>> who are the lead contende. >> they're ranked number one in the world. i don't know that you can say they're the favorites. we as americans definitely believe they can get the job done. but i think in terms of this world cup, it's the most competitive one that you're going to see. i think the host nation, france, is the other contender that everyone really thinks is going to challenge. outside of that, england is really on the upswing. they placed third four years ago and now they've got phil nevill managing them. so they put a lot of resources into their women's game. they're one of the -- i think the team that's going to
7:53 am
challenge. outside of that, germany and japan have shots as well. it's the most competitive group. >> thanks for being on the program today. i think the backdrop of the world cup, there is a larger conversation happening in women's athletics, around inequities. can you shed some light on that. >> it's like everything else in the world right now. equal work, equal pay. the women filed their lawsuit against u.s. soccer and it's an interesting l timing because going into world cup, that's the last thing you want to be thinking about. i think it's a positive thing. i think the women are under constant pressure and to come home and win the world cup, if they do not achieve that, we consider it a failure. right. but if they do that, they actually have more leverage going into negotiation table. because now revenue goes through the of roof and now you can look at two cycles with the women and say by the way, they're bringing that money. and you can't point to the fact that they're not going to make as much money as the men.
7:54 am
and that should be not even a big piece of the conversation anyway. u.s. soccer is a nonprofit entity. their number one goal is to grow the game. >> what little i know about sports, soccer is mostly consumed in other countries, except for miami where it's popular. >> what are you talking about? it's everything here now. dagen: women's soccer is extremely popular among families in this country. >> not compared to the viewership abroad. soccer is the -- my question is, abroad, what's the male, female audience mix relative to the smaller, in the u.s., is you it more women compared to men than it is in, say, spain or some place, brazil? >> i think that's a -- that would be a misinterpretation of probably what's going on. globally, it's both, right. it's a family occurrence globally. you think here in america. no, this is something that little girls, little boys are brought up to embrace and love and find passion for. i think the same thing is happening here.
7:55 am
i wouldn't say that more women are watching the game here. i would think it's probably more men. dagen: do you believe that like with -- not to harp on football, but football and the head injuries and just parents really concerned about their kids playing tackle football, i think that it's the beginning of maybe a seed change where there's more focus on things like soccer and baseball and basketball that aren't as hard on the body. >> yeah. no, i mean, i have tri triplets, boys and a little girl and i would tell you that's the first thing i think of. i don't want them to go into football. they can probably do anything else in the world that they want. i'll urge they'll very politely to soccer. but yeah, i do think about that. i think that -- i'm not going to be alone in that and a lot of moms and dads will think on that level. so i think that's one piece to it. i also think that this game, the accessibility, the way we're broadcasting it is bringing more viewers to the sport and they're
7:56 am
falling in love with it, even if it's later in life. you've got this new generation that it's so accessible for and so they love it early on but i think this older generation is -- dagen: june 7th is when it starts. >> july 7th all the way to july 7th on fox, on fs-1 and on our digital channels. dagen: yes. allie wagner, thank you so much. get lots of rest ahead. it's going to be intense. >> go usa. dagen: don't over-caffeinate. the adrenaline rush, you get the cindy brady moment stareing in the tv, you know this. good to he see you. still ahead, theresa may announcing her resignation. we take you live the to london for the details, next hour, "mornings with maria." ♪ simplify, do or die. ♪
7:57 am
going back to the doctor just for a shot. with neulasta onpro... ...patients get their day back... be with... ... family... ...or just to sleep in. strong chemo can put you at risk of serious infection. in a key study... ...neulasta reduced the risk of infection from 17%... 1%... ...a 94% decrease.
7:58 am
neulasta onpro is designed to deliver... ...neulasta the day after chemo... ...and is used by most patients today. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if you're allergic to it or neupogen (filgrastim). an incomplete dose could increase infection risk. ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries and capillary leak syndrome... ...have occurred. report abdominal or shoulder tip pain, trouble breathing... ... or allergic reactions to your doctor right away in patients with sickle cell disorders, serious, sometimes... ...fatal crises can occur. the most common side effect... is bone and muscle ache. ask your doctor... ...about neulasta onpro. pay no more than $5 per dose with copay card. leave no man behind. or child.
7:59 am
or other child. or their new friend. or your giant nephews and their giant dad. or a horse. or a horse's brother, for that matter. the room for eight, 9,000 lb towing ford expedition. dagen: good morning,
8:00 am
everyone. i am dagen mcdowell for maria bartiromo. friday, may 24 your top stories 8:00 a.m. eastern, breaking news british prime minister theresa may announcing resignation, she is stepping down as leader of her party on june 7 will stay on until her replacement has been chosen, futures here showing a rebound in the market, 121-point gain on dow futures off the highs of the morning so far, as we head into the long memorial day weekend, this following yesterday's sell-off, 286-point loss on blue chips china tried globally growth driving selling, the 10-year treasury yield falling precipitously below 2.3% lowest since october 2017. in europe, today, we have gains across the board, to tell you about. and in asia overnight, the markets there nicked kay kospi, south korea lower. >> investigating the integrators president trump ordering attorney general to declassify documents related
8:01 am
to trump campaign where that investigation goes from here, facebook removing take accounts more than two million of them, a closer look at is it billion? >> billions, it says billion in the tell prompter i thought that was too high a closer look whether this will be enough to combat criticism, against social media giant, reportedly accessing data to spy on people. the fallout, to break it down with me fox news contributor, liz peek maximum cofounder radio talk show host fox news contributor richard thank you for the catch. >> this is basically, my job is my job is to -- wear make-up, and read teleprompter that is only thing i really have to do. >> make studio too cold. >> make sure that i don't make -- >> everything, teleprompter
8:02 am
perfectly within your purview. >> it is a staggering, so -- >> how many accounts are there altogethering. >> only 2.1 billion all -- people apparently. >> literally. >> business a ponzi game -- >> eliminated entire thing. >> one original facebook user you have to have dotedu to be on it i got off mom got on. >> dot harvard. >> at first then went to -- >> the second wave. >> the account, now really -- >> mom and friends on there i am off the platform now i want instagram. >> brings home the challenge to facebook, of trying to monitor their site you cannot they cannot be done, algorithms they have hired tens of thousands can't possibly get arm around
8:03 am
billions and billions accounts. >> i would say can be done they have to do it in a way doesn't cut into growth otherwise stock stops going up, looks like a loser social media type you want to about go my space. >> we talk facebook own instagram instagram is the thing, whatsapp. >> facebook can be dorm santa anita don't they have to acknowledge they are media if they acknowledge they are immediate company will change how they do business acting like so more fuss company life in ambiguity -- >> they are not a media company they can't be sued for defamation or -- so again, call yourself media company please sue us. >> responsible for the content, right? >> therein lies the problem where we exist you have fake accounts two billion of them you shut down, and now becomes this how do you protect user
8:04 am
experience also generating revenue battle ahead. >> blake burman president trump traveling to japan later blake has very latest. reporter: good morning to you president trump first lady will be leaving white house this morning as heading to japan over weekend, a largely ceremonial trip for the president will become first world leader to meet new japanese emperor will give the president more faith time with abe, of course, one of his biggest allies on world stage before heading abroad on memorial day weekend the president and first lady were art arlington national yesterday after that dropped a host of news continuing feud with nancy pelosi, describing her one point as a quote mess also said that issues involving huawei would be wrapped into trade negotiations with china event in which president began
8:05 am
announcing 16-billion-dollar aid package for farmers caught in the middle of the trade war, now the president claims that china will foot the 16-billion-dollar bill for this one but one point, he also seemed to acknowledge that is not exactly how it works. listen to the president when he was asked why the money from importers should go out to help farmers american farmers have been used as vehicle for china to try to hurt our country they have been very -- >> particular the farmer they've been very, very brave very patriotic. >> that wasn't it later in the evening the white house also announced that the president has given the attorney general bill barr the authority to declassify documents enumerating to surveillance tests during the 2016 campaign, and ordered intelligence community cooperate with attorney general white house saying the following in a statement, quote, today action will help
8:06 am
insure all americans laefr truth about events that occurred the actions that were taken during the last presidential election, and restore confidence in public institutions the president set to leave here in a few hours' time we will see if he stops to talk to us because if he does there is a lot to get to. >>. dagen: he will change the news cycle not just a tweet but couple comments on the way to -- like marine one. reporter: like that. dagen: exactly -- there is never a boring day. >> not like we're -- we're out of the clear today because going to get on air force one head overseas they have got internet access twitter we will bn on toes. >> two words for you ever blake burman look out. >> a holiday weekend 4:00 can't come soon enough. >> blake burman great to see you joining us now ploipgs committee member tennessee
8:07 am
congressman fleischmann your about take on the tied farmers how essentially, the other exporters consumers paying for that aid. >> thank you i think this is another great step in the right direction, by the president, to protect the american farmer. recently i m either with a group of tennessee farmers, and the president is right our farmers in america are patriotic great americans, but there is no question that in the short term, they would be suffering, the president gave them 25 billion in aid, originally giving another 16 billion i think it is a great step in the right direction, let the american farmer and american people know that as this trade negotiations continues, global with chinese with canadians with mexicans we're not going to get the american farmer put in peril i think it is going to work it is working so a great step in the right direction, a second step in the right direction,
8:08 am
by the president. >> congressman thanks for joining the program this morning, the second bailout that we've seen this president pass to american farmers called it short term what is the definition of short term will there be a third bileout what is the off-ramp here. >> we want to get to a world, where we would have no tariffs. as you saw the president imposed tariffs frngs for example on steele aluminum moved them to negotiate the president a keen sharp negotiator if you look in macrosense, we have a tremendous trade imbalance in the world. the president wants to fix that, not only for the american farmer but for the american worker and american economy i think that is good. but as we work to fix it, after years of problem after problem, they are about going to be certain groups at least short term impaired or hurt the president is fixing that, i think the farmers will be very happy --
8:09 am
>> congressman, trade deficit with china increased since trade war has begun so what is what is the off-ramp for the american people for american farmers should they expect third bailout after this. >> i will say this as we begin to open more markets as we begin to have a more effective trade policy, the world is growing world population is growing. the american farmer is better than any farmer in the world. in my great state agriculture, and commerce, in tennessee i put tennessee farmer american farmer against anyone, our crops are stronger more resistant, yields higher but we've got to open up markets and ultimately, when the president is successful when america is successful, the american farmer will benefit from this. >> congressman, liz peek good morning thank you for joining us. >> yes, ma'am. >> the money i think is coming from the ccc, i believe, and my impression is that that
8:10 am
30-billion-dollar agency practically out of money after next slice would tran up of come from there is enough to fund 16 billion dollars. >> ultimately through appropriations process we are working very hard on fiscal 2020 as we speak, we can certainly as appropriators as members of the house or of the senate, look to address financial needs i think that is one of the reasons why, we need a budget, we need regular order to get back to appropriation process, because our needs change nationally whether it is border or. >> will democrats go along with bailing out farmers? that is really my question. >> that is a decision that only democrats can make. i have tried to reach out time and time again to my colleagues on the other side of the aisle, in a very as i have way to say, look when
8:11 am
america wins we all win, get on the american team. for whatever reason, the democrats seem to continue to hit this president, and whenever we have a win whether unemployment, whether it is with anything, our economy booming, manufacturing coming back to the united states, in a very robust way, that is great for this country, it is great for everyone. and -- for whatever reason, i think politically they are afraid to join us. >> -- a question about winning trade war do you think the chinese really want to buy soybeans more than bonds for do that to creep currency from prescienteding do you think they want to or part of trade scheme to keep their currency at a certain level. >> descent question look at this on mack pro-perspective unfortunately because we do not have our fiscal house in
8:12 am
order in deficits a large national debt chinese nations buying up treasurys there was a time americans owned vast majority american debt. now other countries are buying up our debt, including china. that has got to be fixed long term, so if we can get to that point where we can fix the bigger problems, it will be better, but, do dealing with chinese right now do i believe they are our main competition in the world. economically, militarily, and all the above. they have got a large population, they need to feed their population, i think that is a tremendous market ultimately for the american farmer, so i don't know what strategy short term but long term it is competition with us. that is why we in america need to get secure on all fronts, economically we need to come together as a nation we need to support our president, we need to support our leadership, we need to support our farmers, and manufactures
8:13 am
and move forward in the century. >> thank you so much have a great weekend. >> a pleasure. >> happy memorial day. >> indeed, coming up leaving her post british prime minister theresa may announcing resignation will stay on as prime minister until replacement we take you live to london for the latest new record for facebook social media giant slashing a couple billion bogus accounts in its fight against fakes, fake gave us -- fake news when we come back. ♪ ♪ -all ground personnel... ...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. ni'm workin♪ to make each day a little sweeter. to give every idea the perfect soundtrack.
8:14 am
♪ to fill your world with fun. ♪ to share my culture with my community. ♪ to make each journey more elegant. ♪ i'm working for all the adventure two wheels can bring. ♪ at adp we're designing a better way to work, so you can achieve what you're working for. in the unstoppable john deere gator™ xuv835. and be prepared to go the extra mile. because when others take rain checks... ...we take the wheel. with 3-wide seating, heat & a/c. this is the coolest, most comfortable gator™ yet. nothing runs like a deere™. run with us. ♪ test drive a gator™ xuv835 at your john deere dealer today. can the past help you write the future?
8:15 am
can you feel calm in the eye of a storm? can you do more with less? can you raise the bar while reducing your footprint? for our 100 years we've been answering the questions of today to meet the energy needs of tomorrow. southern company
8:16 am
dagen: theresa may announcing she will step down next month british prime minister facing backlash over plans to each and every yuan union handling of that live in london. reporter: good morning very big influence out of london
8:17 am
past couple hours, the top politician one top foreign allies raising a lot of questions fort uk also for united states. theresa may announcing she will ten down first as leader of the conservative party, in two weeks, then there will be a -- a nomination process, to find a new leader, that person will become prime minister should take another six weeks here is how she wrapped up a pretty emotional speech short time ago. >> do i so with no ill will but with enormous and enduring gratitude to have had the opportunity to serve the country i love. . reporter: it was inability to do a deal to have britain leave european union the brexit, uk voted in favor referendum three years ago a lot of wrangling here in london, between london and brussels, may's own plan to
8:18 am
get them out of the eu voted down three times who will take over may's job leading concerned boris johnson, the former london mayor they call him a brexitter but, again, it will be bruising process will that new prime minister do the brexit deal get it through? have a lot of people have doubts, a lot of divisions here compromise not in lexicon, the deal must get done again, by october 3, one final note dagen, theresa may will be in place as prime minister albeit lame-duck one when she meets with president trump and next month, when he is here for a state visit, ever the politician president trump has organized a dinner also with boris johnson, covering all of his -- back to you. >> great to see you as always greg palkot thank you for breaking it down a lot to pay attention to -- >> durable goods order due out
8:19 am
11 minutes from now economists expect decline 2%, a record for fact social media giant slashgdz highest number bogus accounts ever in fight against fakes when we come
8:20 am
can't see what it is what is that? that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this but give them a cookie and a star. it's a revolution in sleep. the sleep number 360 smart bed is on sale now during our memorial day sale. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to hit the ground running. only at a sleep number store. save $1,000 on the new queen sleep number 360 special edition smart bed, only $1,799. plus, 0% interest for 36 months.
8:21 am
ends monday. sleep number. proven, quality sleep.
8:22 am
dagen: welcome back futures pointing to gains across the board, 13 -point gain on dow futures this after what was a washout yesterday investors he rattled about growing tensions with china over trade negotiations joining me now, pliabling good to see you. >> thank you. >> what are you watching. >> so china trade obviously,
8:23 am
is a real concern, our members across the board the one policy of the administration they think is important to a lot of heavy medicine something needs to be done if a small business guy you have any internationalss exposure china has been cheating they want it stopped. >> what is the appetite, in the marketplace for in proengsed -- pro lopged china war how long will they allow it to go on. >> our members entrepreneurs sold businesses now investing so both taking the medicine but looking away where can you invest, and not get hit by it so i was on a delegation to detroit if you haven't been to detroit you have to see what is going on there amazing real estate opportunities technology apple has real exposure software countries largely immune to the war looking for opportunities away
8:24 am
buckling down to take hard men and women. >> seems to me that your clients apparently members, 25% invested in private equity isn't surprising given returns last five or 10 years ri worried that is a play going to eventually go the way of hedge funds now only 5% everyone copying everyone-else amounts of money so huge harder and harder to find something interesting to buy. >> i put it in this perspective, our members are fully invested 25% private equity 23 public equity 26 real estate together over 70% gas pedal huge funds market neutral don't signal long term so private equity long term bet in america what members have expertise in hedge funds typically a bet on interest rates they are not going up right now. >> have you got -- ultra rich invest well or do they like pay overpay for hedge funds private equity do they actually perform better than
8:25 am
balanced index fund over 10, 5 years or or other weighted in techs ipos how do they do. >> when they go to sweet spot. our members created businesses across america why so heavily invested in private equity in real estate where they outperform why only 23% in public equity, because nobody has advantage so they are mostly in etfs with a lot of technology, and berkshire hathaway, as and will at berkshire hathaway annual meeting we had a delegation there, from tiger 21 amazing thing with berkshire looking for value they have 100 billion in cash, so they make their own market on the side they buy stock back if it went too low, that is an asemitic upsi -- asymmetric. >> thank you. >> a great weekend april
8:26 am
nondurable goo durable goods coming out a lousy week for economic numbers will this be a surprise prices at pump means americans take organize for memorial day weekend what travelers can expect later this hour. ♪ heading into retirement you want to follow your passions rather than worry about how to pay for long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. so you can explore all the amazing things ahead. talk to your advisor about brighthouse smartcare. brighthouse financial. build for what's ahead℠
8:27 am
8:28 am
brighthouse financial. that's gonna be a good one., ♪ (playing) did you know that nationwide has customized
8:29 am
small business insurance? huh-uh. maybe that's a song. yeah, maybe. (peyton) did you know nationwide is america's #1 provider of pet insurance, farms, and ranches? now that's a song. yeah, maybe. oh, that's gold right there. did you know that nationwide has an interactive retirement planner? (music stops) are we there yet? ♪ (nationwide jingle) >> welcome back i am dagen mcdowell for maria bartiromo, friday, may 24 your top stories 8:30 a.m. eastern. >> breaking news this morning, british prime minister theresa may announcing resignation from her party. >> june 7, in emotional speech, this morning, from number 10 downing street, it was difficult for her clearly. she said she will stay as prime minister until lawmakers find her placement, futures pointing to gains into the long are memorial day weekend, markets open all day long, it
8:30 am
looks like a bounceback from yesterday 128-point gain on dow right now, we are waiting for durable goods for april economists expect deadline 2% a rough week for data as i should point occupant durable goods, long-lasting -- durable goods declining 2.1%, 2.1% decline, on durable goods. . we will get you that xtransport number to about positive we will get nondefense capital goods report, as well, but durable goods, long-lasting items everything from washing machines to aircraft but decline of 2.1% on durable goods. do we have gerri willis at new york stock exchange? let's get down to gerri if we can. on this breaking news we are watching futures gerri but not much of a negative surprise
8:31 am
still kind of evidence that this economy isn't firing on all cylinders. >> you got that right, listen this is an important number right now, because of what is going on with china debate over trade, what is going to happen to industrial production, it is critical that we understand that, here we've got a couple of earnings reports, here that i want to get to, one foot locker was a double miss for that company, coming in 1.53 versus .60 cut full year guidance what is going on here well china as i mentioned before, foot locker one of those companies that 170 companies that is signed a letter earlier this week asking president trump, to reconsider tariffs on footwear rippling through entire market issue about tariffs, and production, the group says it will cost consumers additional 7 billion dollars a year one company doing well tesla, the stock is rebounding after a 6 day slide, you remember there was e-mail from the about musk
8:32 am
saying producing average could hit production 7,000 cars here week down 41% to date one of the reasons stock was doing so poorly yearly is because one of china analysts said worst-case scenario on escalating china tensions would be a 10 dollar stock price for tesla it is 199 right now lots of questions what happens to tesla production everybody else's, and you will be looking in detail about all-important april durable goods numbers back to you. dagen: thank you so much for that gerri willis i want to point this out again this has been a manufacturing sector that has been soft to start this year yesterday we got that purchasing manufacturers index in united states in manufacturing, nine and half-year low on that nondefense capital goods
8:33 am
xaircraft excluding aircraft down 9/10 of a percent in april worst than expected. >> definitely seeing kind of a deceleration marcher april on consumer spending capital goods all indices pointing that direction, so it is obviously not great news for second quarter earnings second quarter earnings were not expected terrific as it is everyone i think expects some acceleration ramping back up, in may and june with trade tensions we will see, the good news is we have not seen a real decline in consumer sentiment or business sentiment that is we i think to that possible ramping back up. >> optimism about job market that highest level -- >> gallup, reported since at least 200 do mau make of this durable goods number. >> i don't think reality part of the economy is where issues are these are companies, everyone knows retail industry slow decline right now what
8:34 am
really matters to investors will support the market, is -- they don't pay tariffs, on imported metals they are i.t., the point is, that is a concern when you see tesla stock uber, lyft ipos there is a potential mass unicorn extinction about that would cause a panic for doors ultimately keeping the economy hot. >> i point out tech companies it could be vulnerable to the tariffs with apple one of the most about valuable in the country remain to be scene whether iphones get hit with 25% tariff you were talking about intellectual property kind of where wealth is among paenz nots getting hurt you say, so you get tariffs on actual goods but if pleks for it there is upside there. >> also has most upside to point in trade war for them stuff beingstone copied they
8:35 am
don't need cheap anything, apple is one exception, where they need to manufacturer phones clear up to be academy of with samsung vast majority tech companies want to figure out a way to make money in china without giving up the shop to do it they only see upside why if they go down that is worse than farmers having trouble or somebody else. >> i think you have to make a declinati delineation market main street yesterday fox business reported china trade could lead to he almost 12,000 stores closing 40 billion in sales coupled with this durable goods number mike wave wishing machines jewelry sports equipment medical equipment auto sales sort of says to me for folks at home not making risky purchases like taking out auto lon buy new suv maybe economy is weaker, getting jobs but not confident enough to buy a new washer or a new drier to buy a
8:36 am
new make wave. >> one thing to petition back on a little bit remember first quarter had a bump up because inventories were, built, right? and i think part of what we saw april was inventories came back down you are quite right it go he is to sort of the optimism of the vendors manufacturers about what consumer is going to do you may be quite rightly but i think that is also sort of a levening factor here. dagen: fact talking technology social media giant taking down a record, i got this number wrong i thought that the b, was fake it was m, but 2.2 billion fake accounts between january and march this year joining us the cyberguy fantastic to see you, what do you make of this move? >> dagen, good morning to you, it is actually a very unusual move from facebook zuckerberg comes out in a call with reporters he is saying essentially proactively, this is a correction we are making we are talking about a monthly user base of 2.38 billion
8:37 am
people on facebook. and not only do they delete that 2.19 billion amount of fake accounts, and admit to it but instead they are also saying 5% of the monthly euros 2.38 billion is the total. that those are also not real accounts, how does that affect facebook on bottom line long term? it could be that well those numbers were used inside of advertising but we have why either to see if that will technicality ad rev at facebook what is naush unusual talking about. >> i want to be clear they said they delete as created this isn't had two billion fake accounts billing people on ads to them then deleted them all and user base is going to decline by two billion they catch 95% plus and created seconds after created so no one -- not ponzi
8:38 am
scheme, again we don't know about the 5% number they don't really know about that that is a serious issue about hard to -- they have been deleting for easier we don't know numbers as much was apparently almost about half this last year last quarter so this is an ongoing -- >> i would argue irgot to tell you i don't think you can trust all the data coming out from them, so you want to argue they have been sitting around 5 seconds, they do have very strong a.i. technology now can snap it off the platform quickly in this indication there is no certainty how long those accounts were there not reporting that information, and while that device maybe really good at capturing not very good at capturing what he promised to reduce hate speech on facebook platforms self admitting only 65% of a.i. tool is catching that, and however you look at that that is 24% increase from their performance last year, and reducing hate on the platform. thanks for joining us my question for users of facebook
8:39 am
using it every day how does deletion of two billion or so accounts change user experience? >> you have more authentic connections on platform what they are going for, i think they are realizing that they can continue to have all these sorts of issues privacy, or fake accounts online simply going to erode authenticity of experience in that platform there is what facebook is today, long term zuckerberg hopes to turn it into multiprivate combined messaging. mr. platform with design teams reef yet to hear revelation of very important you trust connections relevant information comes forward instead of trail we have been on which was a bunch of nonsense that would come at us combined with the stuff we really want to see. dagen: before we move to snapchat i agree i at a you could to people who have to do business with facebook regularly, they don't trust what management tells them if they have to talk to them they
8:40 am
just don't trust it, that they are -- and i will leave it at that, but -- >> sandberg duckworth have a lot of work to do in that area. dagen: they do snapchat, in premarket trading up after report says looking to let why users add music to posts, not all good news, new brorts suggest shapovalov employees were spying on users lo and behold what do you say? >> all right tool is called snap lion, many tech companies have tools like these, it is one of the tools you would use to comply with say a subpoena or you know a mandates court order to supply information, to law enforcement the fact of the matter is, many companies also have had modest abuse of tools i don't see any giant evidence that anything was super harmful in this it is a reminder to us that nothing is truly private even though you may be using snapchat you think you have a aspersion message not always the case.
8:41 am
>> thank you so much great to see you, sir, come back soon. >> great to see you -- >> take care. enjoy that beautiful l.a. weather president trump tweeting on calls for robert mueller to testify i don't know why the radical left democrats want bob mueller to testify when he issued 40-million-dollar report states loud and clear for all to hear no collusion no obstruction. how do you obstructionist no crime in question mark. dems are looking for trouble and a do over exclamation point i have said this the democrats might be careful with that he wish for might not hear from bob mueller what they want to hear. >> plus prices at pump americans hitting the road memorial day what travelers can expect later this hour. ♪ ♪ the music and the music is me, yeah ♪ ♪ to you believe in magic?
8:42 am
yeah. ♪ the cloud i need? it has to keep up with sales, supply chain, inventory - ♪ ♪ it needs to track it all, from cincinnati to singapore. ooo! ♪ ♪ and protect it all. customer records, our financials, they better be secured. but i also need easy access, to manage data across my clouds -
8:43 am
no matter where it lives. ♪ ♪ so if an auditor shows up, i can be a step ahead. that's the cloud i want. is that to much to ask? expect more from your cloud. ibm cloud.
8:44 am
8:45 am
dagen: in case you missed it here he are some of the top moments from the show. >> what is it going to take in your view, to -- to get the chinese back to the table, or should we just look at this and say maybe a deal doesn't happen. >> china has to understand that, we cannot continue to give away our economic and intellectual property, year after year when china steals 300 to 600 billion annually ip
8:46 am
from united states simply cannot continue i agree -- we've got to do something if any other country out there in the world, that takes a benefit from u.s. it is china. >> china is going to pay for 16 billion dollars tariffs coming in a transfer coming in. >> certainly needed to move away from china, we need to move away from huawei in these areas, the president is very encouraging. >> not just hog farmers agriculture in general i think reacted definitely felt like we are disappoint of spear in trade war as far as retaliatory tariffs go. >> now would you characterize business in france. >> france is amazing, the best to neighbors, income going down. >> mining that field all over the country there are many, many donors willing to put money forward to reelect the president they like where this economy is they lining expect
8:47 am
alism over socialism. >> clearly people don't understand i hate to say that, because people are intelligent, and they -- they know what is best for themselves and their family, that is what we in washington should al work towards. socialism has never worked before. >> youring people seem geared towards socialism government paying for everything, a good thing or bad thing. >> i think a good thing. >> there is a lot of appeal to socialism, i feel a lot of european countries follow that model. >> denmark, norway sweden. >> first political moment 911 don't remember berlin wall don't remember gorbachev, socialism per se. >> they say parents imposing vegan lifestyle on children ought to about jailed. >> risk crazy, vegan diet can be healthy unhealthy depending how you follow it generally not a diet i recognize to
8:48 am
young children newborns pregnant memos you can do it healthy way dietician or doctor. >> indianapolis 500 roars back memorial day weekend next guess making history, becoming first licensed driver with diabetes to win yind. dagen: car series raf. >> as drier with debates all about managing blood glucose, with monitor. >> you are about to embark on incredibly committing move for career take over at wnba commissioner. >> has been one of the few if only, women professional leagues that has survived and sustained. >> making pizza sad cautious made on demand ma pizza custom pies under five minutes. >> we have made about making a difference in lives of people. >>
8:49 am
look limu. a civilian buying a new car. let's go. limu's right. liberty mutual can save you money by customizing your car insurance, so you only pay for what you need. oh... yeah, i've been a customer for years. huh... only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
8:50 am
8:51 am
8:52 am
dagen: back your patience, record number americans hitting the road for the memorial day weekend jeff flock already on the highway driving and talking be careful, jeff flock. reporter: yeah unfortunately, dagen i had to give up my 84 mercedes convertible a time chain turned out the going to cost more to fix it than it would be to -- there you go. we are in good old ford explorer this morning 249 outside chicago not terrible traffic but not real fun either this is in some ways the fruits of a booming economy. he we've got record numbers of travel when it comes to both on the road, and the air, and on the rails, take a look at
8:53 am
numbers up almost well 3 1/2% by car this year according to aaa, up almost 5% if traveling by air numbers up almost 4% by rail so you know, people have money to spend out the doing it. >> slow down here. and, you know a positive thing, especially because gas prices even though they have been rising have most recently if you look at the chart, have begun to moderate a positive yesterday a big falloff in bill, and that is got to about positive at least in terms of gas fries. >> worst time to travel? right now not a bad time. but if you look nationwide generally early afternoon, mid afternoon better to say around 2:00, 3:00, 3:00, 4:00, 5:00 don't be on road if you can help it, of course, most people get off work decide to do it i am not going anywhere
8:54 am
this memorial day so i don't care. >> and you always put on a suit and tie when you get behind the wheel. >> memorial day by golly i want to be respectful i like wearing a suit and tie, you know, that is my work clothes what can i tell you -- >> safety belt on? >> i think -- yes, he does. >> you betcha. >> not you it is right here. >> sorry i got to put it back on. >> good news for people stuck in traffic burger king is delivering to people stuck in traffic in l.a. maybe over memorial day weekend, they will start rolling out that service everywhere. >> [laughter] >> we need to get brats delivered in chicago hot dogs. >> fine people of chicago pack brats with them back home
8:55 am
brats. >> look at easy sunday morning driving that car any tell you -- hands on wheel. >> jeff flock, thank you, sir. have a good weekend. >> okay. >> tell your mother. still ahead final thoughts from our all stars stay with us. ♪ ♪ key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. ycan the past help you. write the future? can you feel calm in the eye of a storm?
8:56 am
can you do more with less? can you raise the bar while reducing your footprint? for our 100 years we've been answering the questions of today to meet the energy needs of tomorrow. southern company
8:57 am
... termites. we're on the move. hey rick, all good? oh yeah, we're good. we're good. terminix. defenders of home.
8:58 am
♪ >> final thoughts from the all-stars. >> that was the theme for the clueless show. that's my childhood. [laughter] >> thank you for eating me. >> wonderful show.
8:59 am
i'm headed back to dc so happy memorial day to our pets and all who have fallen and happy to dc black pride. that's where i had after this. >> how to use them as politicians connect. >> they left on yesterday. >> love it. >> you get news about how much it will cost each family and those reports don't take into consideration there's offsetting savings because of the trademark because interest rates are going down and that they do more than you pay in tariffs. gas prices are going down because again related to the trade war there are offsetting consumer savings. keep focus on the tech unicorns and that's what is importing the economy. trademark is relative sideshow the gets more attention. i'm not saying it can't cut problems but don't overplay the problems. >> optimistic note from jonah. i can't wait to see what president trump tweets out over the weekend. it will disrupt market expectations. stay tuned. >> i have advice for nancy pelosi.
9:00 am
stop referring to interventions because it's a slap in the face of any individual who has struggled with addiction. thank you. and thank you richard, jonah and liz. it's all about stuart varney with "varney & co.". stuart: let's not get carried away. good morning to you. >> the hours of you, i love it. stuart: never enough. good morning. britain's prime minister to resume stepping down in an emotional statement she acknowledged she has not been able to negotiate a better deal the parliament would agree to. she will still be by minister when president trump begins his state visit to britain on june 3. the two, however, have not been close. the book is to make boris johnson the odds on favorite to succeed herbert often described as the donald trump of britain he's more hardlines on the brits leaving europe. i wonder if he meets president trump on the state visit and how about a trade


info Stream Only

Uploaded by TV Archive on