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tv   FBN AM  FOX Business  August 16, 2019 5:00am-6:00am EDT

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@loudobbs tonight. we thank you for being with us, we'll see you to. good night from new york. ♪ ♪ cheryl: it is 5:00 a.m. here are your top stories at this hour. take a look at what's happening in the u.s. futures market right now. we are seeing a huge rebound after what has been described as a wild, volatile week for wall street. stocks around the globe seeing a major rebound. you're seeing good news for bonds over in asia, possible ecb stimulus coming, that really picked up the numbers a few moments ago. consumer confidence in this country is very strong. all of this pushing u.s. futures higher, right now dow up 245, s&p up 27, nasdaq up 934 and a quarter. lauren: president trump was touting his economic success in new hampshire last night and calling out his 2020 contenders at socialists. why he says voters have no choice but to vote for him in
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2020. cheryl: we still are talking about china. they are threatening though use their power to end months of demonstrations in hong kong. protesters there may have just come up with a new nonviolent strategy that could hit beijing where it hurts, that's their wallet. lauren: hollywood promotion there causing complete chaos. how bargain prices brought one major american city to an absolute standstill. it is friday, thank goodness, right, august 16th, "fbn: a.m." starts right now. ♪ ♪ mr. blue sky. ♪ please tell us why. ♪ you had to hide away for so long. ♪ so long. ♪ where did we go wrong. ♪ mr. blue sky. ♪ please tell us why. ♪ you had to hide away for so long. lauren: welcome to "fbn: a.m.." happy friday. i'm lauren simonetti.
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cheryl: good morning, everyone. i am cheryl casone. well, we are ending on really another volatile day, it's been an incredibly volatile week for stocks. lauren: we're seeing more of that this morning. take a look at dow futures. they are jumping 242 points. that's about 1%. the nasdaq is gaining 1 and a quarter percent in the premarket. if you look at stocks on this volatile week, they're still down because this is a tremendous period that investors are in, weighing strong consumer spending, calls for monetary accommodation with the tradewind coming from china. cheryl: and the futures jumping in europe, on the ecb news, possibly more stimulus coming from the ecb. traders like free money. they may be get itin getting itm europe. we have a 3 basis point jump for the 10 year. a little bit of a dip in bond prices, that's good for
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equities. lauren: tensions in iran continue, the price of oil up. cheryl: a lot of the news that crossed happened after asian markets closed. there's green arrows across the board. the only market a little bit in the red was korea's kospi. lauren.lauren: let's check oute open in europe, the cac is up 1%, up 1% for the dax. the ftse a little trouble, a technical glitch at the open, but it's trading higher by two-thirds of 1%. cheryl: developments out of china continue to rock markets. china reportedly is turning to south america for some farm products to import. china placed a large order for soybeans with brazil. china stopped buying american soybeans due to the escalation in the trade war with the united states. also on the trade front, again, jp morgan warning this morning
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that the latest round of u.s. tariffs set to hit september 1st china is going to test beijing's ability to support the economy there. the new tariffs planned for next month and of course there's going to be more coming in december, the 15th there, the chief economist says he sees a 40% chance of a global recession in the next six to nine months. lauren: president trump speaking to reporters last night before heading to his rally in new hampshire said he doesn't think trade tensions with china will cause a recession. >> i think the longer the trade war goes on, the weaker china gets and the stronger we get. we're taking in massive amounts of money, billions and billions of dollars, and i think the longer it goes, the stronger we get. i have a feeling it will be fairly short. i think it will be -- china's lost millions of jobs. lauren: trump said the next round of trade talks with china
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are still on for next month. cheryl: the general assembly of the united nations, in september, the presidents of those countries could meet. let's talk about news coming out of federal business. the head of the st. louis federal reserve is bullish on the economy. james bullard said the u.s. economic ex pans could continue for -- expansion could continue for another four years. he said the federal reserve is monitoring the potential impact of trade tensions. >> you've got this trade war going on. you've got a lot of uncertainty globally. europe not doing as well as they'd like. china looks like it's slowing down. so those factors have to be taken into account as to how those will eventually come and hit the u.s. economy. cheryl: bullard says the fundamentals of the u.s. economy are pretty good, there is no need for an emergency rate cut. the fed is expected to lower rates by a quarter percentage point at next month's meeting. lauren: let's get you an update on hong kong. concerns are growing that china
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is preparing to use troops to break up protests in hong kong. hundreds of chinese police conducting drills because of the unrest. dozens of armed personnel carriers and trucks are parked in a stadium, red i do be deployed -- ready to be deployed. cheryl: fox news' benjamin hall is live with the latest on the unrest out of london benjamin, good morning. >> reporter: good morning to you. the state department now saying it is deeply concerned by this military buildup on the border. we've seen president trump trying to encourage dialogue between president xi of china and the protesters. take a listen. >> i really believe if he sat down, they have a certain little leadership pool, if he sat down with that leadership pool, i bet he'd work something out really quickly. it seems like things could be worked out pretty easily. >> reporter: chinese paramilitary forces continue to conduct exercises, less than 20 miles from hong kong and very visibly, while soldiers are seen
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conducting their drills, hundreds of armored vehicles are massed and they say they could act if forced to. >> we have enough solutions and enough power within the limits of basic law to cull any unrest. >> reporter: despite that threat, protests are expected to resume with greater in-- intensity this weekend. there are plans for another million man march on sunday, posing the biggest challenge yet, perhaps, to chinese president xi-jinping. the question is whether the military buildup is an indication of military intervention or whether it is a threat to try to make the protesters step down. cheryl: benjamin, thank you. lauren: the world is watching. north korea launched two more
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missiles. cheryl: tracee carrasco has details on this disturbing story. tracee: good morning. south korea is holding an emergency meeting after north korea launched its sixth missile test in less than a month. the launch comes one day after south korea's president vowed to rietoreunify the peninsula. the north called his comments l foolish and reckless. israel says no to a visit from congresswomen ilhan omar and rashida tlaib. they were set to arrive this weekend for a seven day tour with visits to jerusalem and the west bank. benjamin netanyahu said the country blocked their entry because of their support of a boy t cot of israel. -- boycott of israel. they said they would consider allowing tlaib to visits her relatives in the area.
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space port is the new headquarters for virgin galactic. there will be four commercial flight operations, featuring the lounge which they call the gateway to space for future astronauts. 600 people have reserved trips to space with the cost of $250,000 a ticket. the opening date and the start-up flights have not yet been announced. that's what's happening now. cheryl: thank you very much. lauren: let's take a look at futures this morning. i hesitate to use the word stabilization but it might be what we're seeing. we have 1% gains for the dow, for the s&p 500, 1 and a third percent gain for the nasdaq this morning. the 10 year treasury bond, the yield we have been watching, it's at 1.56% right now, it is holding that key psychological one and-a-half level could be some of that stabilization i've been speaking about. still ahead, the art of the
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deal, we'll tell you about the president's plans to expand the u.s. beyond sea to shining sea. and the party is over at uber. how the company is cutting back in a way to tackle the recent $5 billion quarterly loss. keep it here, when we return. ♪ i'm falling so i'm taking my time on my ride. ♪ oh, i'm falling so i'm taking my time a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity.
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cheryl: the markets really at this point as we go into -- hi, lauren, good morning. we have a lot of breaking news to cover right now. we want to show you the futures right now. as we go into the final trading day of the week, stocks are down about 2.4% for the week, but this could change today. look at futures, dow up 256, s&p is up 29, nasdaq up 101 in the premarket. breaking news overnight, there could be more stimulus coming from the european central bank. it's the bond story, we've seen the volatility in the bond market hurt the stock market along with trade fears. well, we have seen an evening out of the yield and actually a gain in the yields and the 10 year and that is certainly helping our markets. we're on it. lauren: capital one is facing more criticism related to the massive data breach. this time, from employees. the wall street journal reporting that employees raised concerns within the company about staffing issues in the bank's cyber security unit. they warned the bank was slow to install software to help spot
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and defend against hacks. capital one revealed a hacker assessed personal information on about 106 million of customers and applicants for credit cards. a bank spokesperson said the cyber security unit total head count has risen over the last several years. cheryl: facebook users suing the company over the 2018 data breach. they say they could have protected them but instead the company kept quiet. they lawsuit said facebook knew they were vulnerable to hackers, even though they protected employees. lauren: let go back to the market. we're seeing a monster rally this morning. dow futures up 250 points at the moment, easing trade tensions and somewhat of a stabilization in treasury yields. mitch rochell joins me now. how are you feeling after this volatile week? are you still okay? >> my stomach, i feel like i've
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been on a roller coaster ride. lauren: are we out of the woods now? we see a pretty big jump in the premarket. >> cheryl said it earlier, the notion of more stimulus helping europe and europe's the real drag and all of this -- we go back a couple of days. you had negative gdp growth in the u.k., followed by negative gdp growth in germany and that really started the sort of ball rolling. we had the inversion of the treasury curve. all of this said, wow, wee sessiorecessioncould find its wt started to freak everybody out. the right now, the notion of stimulus, intervention i think is helping. lauren: i get that. europe needs the stimulus. the u.s. economy, with retail sales rising and the consumer strong -- i was at a walmart yesterday. people are spending money. the store is packed. do we need the stimulus? >> i don't think our economy and their economy are experiencing the same phenomenon. the problem is, our economy and their economy are linked
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together and chinas in the middle of all of this. germany is slowing down. they're not exporting to china because china is not buying. we're in a trade war with china. there's a freaky triangle. lauren: so if someone sneezes, we're going to catch cold, inevidencinevidence.lauren: lea recession in a year or two years time, this could be right at the time americans go to the polls. do you think donald trump could be reelected if he loses the economy? >> i'm going to unravel that for a second. the inverted yield curve has been a harbinger of a slowdown. it's an early warning l signal. the problem is the president talked about the stock market and made that a proxy for the economy and the stock market is not a proxy for the economy. so it's really more what's going on in the market than really what's going on in the economy.
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the underlying economy is strong and shows signs it will continue to be strong. the question is, will the market behave in sync with the economy. lauren: can trump policies vis-a-vis the trade war with china cause a serious slowdown if not a h a recession and losem his re-election bid. >> the question is, is it hurting china right now and is the hurt in china hurting other countries and that comes here. lauren: mitch, thank you. happy friday. >> i thought i was going to say something really upbeat and uplifting. lauren: pay attention to this next story. cheryl: yeah. this is actually a good real estate story. president trump is reportedly eyeing new property to buy in greenland. he want to buy the whole islanded. thpresident asked advisors how e u.s. could buy greenland. some call it a fantasy. greenland is a self-ruling part of denmark. the president is expected to make his first visit to
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copenhagen next month. lauren: the 10 year is holding about 1.56%, dow futures up 256 points, european markets gaining about 1% as well. still ahead, china thumbing its nose at u.s. soybeans and president xi-jinping's agreement with president trump. so how will trump respond and can china afford to snub the u.s. as unrest grows in hong kong. and a pretty scary ride for passengers aboard this l delta flight. what caused that mysterious fog in the cabin. is that ac? cheryl: i don't know. ♪ born in the usa. ♪ i was born in the usa. ♪ i was born --
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cheryl: we are following what is going to be -- promises to be possibly another crazy day on wall street. a couple headlines crossing in the last hour or so. there could be more stimulus coming from the europeans. the euro hit a two-week low. more stimulus means that hurts their currency, that's happened here in the u.s. anyway, dow is up 245 right now, s&p up 28, nasdaq up 95. we're also seeing the yield on bond prices actually going higher, means prices are going lower. that's good for stocks. we'll keep on it. lauren. lauren: a lot is going on. a scare for passengers on a del a take airlines flight to new york. flight 100 was waiting to depart florida when a fog-like mist started fill up the cabin. passengers were confused. they didn't know what was going on. one customer claims the flight crew failed to explain the situation and even joked about it. the flight went on to land safely in new york. the airline telling fox news the mist was caused by, are you
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ready, condensation from the air conditioning, so cheryl, you were right. cheryl: mitch rochell and i have both seen that on airplanes. it's freaky when you see it. one of our top stories this morning is the issue of hong kong. they're bracing for more protests over the weekends coming up, despite warnings from china that it could use its power to crack down on the demonstrators l. president trump urged xi-jinping to meet with the protesters to diffuse the tensions. let's bring in jonathan ward, author of china's vision of victory. the big question here is how far are the chinese willing to go to control hong kong? >> good morning. i think we can't underestimate this regime, its brutality, it's ruthlessness, its sense of its own direction and what it considers to be at stake in hong kong which is a direct contest to communist party rule. hong kong is considered a part
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of china, one country two systems model has broken down here, based on the encroachments on the basic freedoms of hong kong that were essentially promised to remain after the handover. cheryl: china promised when the brits handed over hong kong years of autonomy. the chinese seem to be beginning to really violate that and the whole reason the protests started nearly 1 11 weeks ago ws because of that, because of the extradition treaty that carrie lamb introduced. >> the communist party has been devouring the city for years now, the education process had a role in the umbrella protests several years ago. hong kongers have lived through the failure of the promises. china's government said its promise to the british government no longer applies, doesn't mean anything. so very broadly, the communist party does go back on pretty much everything. cheryl: what does a that mean for the economy?
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hong kong has been the bright shining star of asia when it comes to capital inflows, when it comes to business, it's an asset to china. now protesters are planning on august 16th for this mass withdrawal. they've got as you know thousands of supporters. they're going to go to the atms, go to the banks, withdraw hong kong currencies and switch it to dollars in a show of economic protest. is that an effective tool, do you think? >> i'm not sure that really tips a balance in any direction, but the main thing is that hong kong is also a window on the world. it's part of the story of china's p opening. shanghai may have replaced hong kong in a certain way as a more important financial center. i think that's something we all need to monitor closely. cheryl: i have to push back on that, though. because a lot of global companies -- jp morgan, goldman sachs, they've got offices in that tower in downtown hong kong that the french spider-man guy just climbed with the peace flags or whatever.
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i mean, to european and u.s. companies hong kong is a safer bet than shanghai to do business, don't you agree? >> safer it is. in the communist party's vision they want to bring as much of that into china as they can. every 30 years china closes to the world. we've seen a period of opening that's lasted quite a long time. we have to look at it in a broader context. what they're willing to do in terms of human rights crackdowns, that's we've swept under the carpet in order to do business with china. the defense minister said tianemen square was the right thing to do 30 years ago. i think they're more likely to use stealth ha tax tactics in hg because it's a city the world can see. what they intend to get done really it's serious. cheryl: thank you for joining us this morning. lauren: let's take a look at
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futures. we're seeing 1% gains for u.s. equities after a 99 point jump yesterday for the dow. again, stocks down on the week, volatility continues. still ahead, dems look to win 2020 by attacking the wealthy and taxing the middle class. are they really just handing the victory to president trump? and details of the extreme measures some retailers are going to to try to get shoppers back in their stores. keep it here on "fbn: a.m.." ♪ iend, antonio. his luxurious fur calms my nerves when i'm worried about moving into our new apartment. why don't we just ask geico for help with renters insurance? i didn't know geico helps with renters insurance. yeah, and we could save a bunch too. antonio! fetch computer! antonio? i'll get it. get to know geico and see how much you could save
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lauren: does the european central bank have a big bazoka ready for september, perhaps a rate cut and stimulus. european markets are jumping, so are markets here in the us on this friday, dow gaining 245 points. we've got a global rally going on, cheryl. is there anything better
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than a trump rally? what about a sleepy joe biden rally? i don't mind any of them. you've got pok pocahontas is ri. kamala is falling. you've got beto, beto is like gone. but i don't know. i think sleepy joe may be able to limp across the finish line. cheryl: that was president trump. he didn't seem too worried about the competition at his rally in new hampshire last night. according to a new fox news poll, former vice president joe biden is leading the democratic race by 11 points over pok pocahontas, he called her, elizabeth warren. it may be an uphill battle for the president who is trailing hind biden by 12 points. let's bring in gop strategist, amir beno and robin bu byro.
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let's talk about the overall fox news polls that are showing that several democratic candidates have a likely sometimes 10 percentage point lead over the president right now and the economy is still really strong. what do you make of that? >> well, i make of it that the economy is doing well, trump is doing great, biden has held steady at 30% but that's not good. i mean, 70% of democratic voters are putting their eggs in other baskets. we've seen warren surge. we've seen the others fall down into the teens or into single digits. i don't think any of them present any real threat to donald trump. cheryl: it's interesting that you bring that up. i want to go back to elizabeth warren with you, robin. she has seen a steady climb, really from march until now in the polls, about a 16 percentage point jump and now she's ahead of bernie sanders. but she's the one that's going after the economy and saying that the middle class is suffering and that the little guy has been left out. but can she really run on
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bashing an economy or saying that things aren't good when they, frankly are good, robin. we have the numbers to support that. >> of course. actually, i think it's pretty good strategy on her part because she just rolled out her plans for rural america, for example. we know that farmers right now are hurting. chapter 12 bankruptcies are at a six-year high and small businesses for the last three months have shown a decline we haven't seen in 10 years. it could work. it's dangerous territory. but look, elizabeth warren's doing better. she's now in second place according to this fox news poll. our top three candidates are all showing that they can beat trump when they go head to head with him. i'm highly skeptical of polls, even fox news polls. as good as they are, shell dark shocke--shell-shocked from 2016. cheryl: all of the polling data
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has been incredibly worked on since 2016 across the country. but let's talk about in particular what's happening on the joe biden side. amir, i'll start with you. there's a report that some joe biden's staffers are discussing maybe pulling him back off the campaign trail a little bit because they're worried about the gaffes. he did get pretty beat up last week over some of the mistakes he's made, his misspeaking. is that a really good strategy? i point to hillary clinton in 2016 who pulled back on the campaign trail. that didn't work out for her. >> it's a terrible strategy. when your aids are trying to lock you in a closet, that means you're sinking like a lead balloon. biden's days are numbered. cheryl: respond to that. >> this is bad strategy, especially to come out and say this. it's one thing to do it, dial back some of the events but to come out and say it, it's a bad look. what happened with hillary, we can't have a rebeat o repeat of.
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now, look, president trump has made his own gaffes, he talked about airports in colonial america. i wish the biden campaign had just rolled with it, honestly. cheryl: there's one quick thing i want to -- before we jump. it's culture versus policy. if you look at the economy, look at the policies, even china, amir, we've got bipartisan support in washington for going after china which the president is continuing to do day by day. is this going to be an election about personality and culture or will it be based on policy? >> i think the democrats want to make it about personality and culture and they've been trying to paint donald trump, calling him a white supremacist and racist. i think when it comes to the republicans and donald trump, it's all about policy and accomplishment and what he's done for the country. the democrats can't challenge, they can't take on the results and so they're essentially
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resorting to demagoguery. cheryl: robin, amir, always great to have you both here. >> thank you. >> thank you. lauren: as the investigation into alleged sex trafficker jeffrey epstein's death continues, two republican senators are asking for the department of justice's findings to be made public. bill barr announced the fbi and doj would look into epstein's apparent suicide while in prison. barr said he's appalled and angry over the series of irregularitieses at the facility where epstein was found dead. accountability is said to require full transparency. cheryl: let's talk about retailers, they're trying to win back customers. jc penney is looking to use clothing to help prop up their sales. they're partnering with thread-up to sell second handhad clothing at 30 of its stores. jc penney has been struggling with sales falling 9% in the
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last quarter. lauren: tiffany is hoping diamonds are a man's best friend. it's lawn offing its first -- launching its first comprehensive bling collection for men. global sales of men's fine jewelry reached nearly $6 billion last year. tiffany will also begin selling things like cocktail shakers and beer mugs. that's clever. cheryl: talk about too good to be true. to promote the hit series, the marvelous mrs. maisel, amazon offered 1959 pricing at select stores in los angeles, including 30-cents per gallon gasoline. this happened yesterday. it caused traffic jams as drivers were used to paying $4 a gallon plus, trying to get in on the deal. finally police had to step in and temporarily suspend the promotion. other deals included 51-cent movie tickets and 2 r dollars manicures. lauren: i would definitely stop
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if i saw a sign for 30 kept gas. stocks on wall street this morning are surging, tough, volatile week for the market but we want to end on a positive note. we'll see if the gains hold. dow is up 244 points. a major scare for one of racing's royal families, the very latest on dale earnhardt jr. a and his family after their fiery plane crash. and if you blinked you missed this one as as die-hard olive garden fans jumped at the chance of a lifetime. you've been talking about this all week. ♪ r 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. who used expedia to book the vacation rental which led to the discovery
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cheryl: markets as of this morning when we open, we've got futures pointing higher. at this point we're down 2.4% in general for the major indices. that's going to change, we think, based on the numbers we're seeing. s&p is up 27 and a quarter, nasdaq up 93 and a quarter. european markets are really jumping. euro is under pressure. we might get more stimulus from the european central bank. lauren: i don't want t to jinks it. the market has changed a million times. conor mcgregor taking his fight outside the octagon. video shows a man identified as the ufc star punching an elderly gentleman in the face at an irish pub. he was reportedly upset the man
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wouldn't drink his whiskey. the man who was punched somehow didn't seem too phased by the blow, remaining calm in his seat. cheryl: dale earnhardt jr. out of the hospital hours after his plane skid off the runway and burst into flames. lauren: it's unbelievable when you see the video, how the family made it out alive. aishah hasnie has the latest. >> reporter: good morning. this is unbelievable. dale earnhardt jr. has survived so many racing crashes but walking away from this, it is remarkable. just look at the video here. the nasca nascar legend's plane crashed on a highway and burst into flames. witnesses who captured the video said they saw a baby and a dog being pulled out of the plane. that baby of course is dale's 1-year-old daughter. his wife amy was also on-board. dale's sister tweeting in part, this, a short time later. i can confirm, dale, amy and
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ayla along with two pilots were involved in a crash in bristol, tennessee. everyone is safe and has been taken to the hospital for further evaluation. the sheriff saying this could have been so much worse. >> i guess the only word i can say is they were extremely lucky. when it came through the fence, the fence wrapped around the airplane and there's a section there that the fence is wrapped around the plane, if that would have been where the door was, it would have been a lot more difficult to get the door open. >> reporter: so what happened? well, we still don't know yet. the ntsb tweeting that they are sending two investigators to tennessee to begin an investigation of that runway excursion accident involving assesa cessna 680 business 680. for fans, it brought memories of dale earnhardt senior's fatal
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crash. thankfully dale's rep saying everyone in the plane is doing well enough. by the way, dale is a race analyst for nbc spomplets he was on his way to announce saturday's race. the network confirming that that's not going to happen. he's going to take the weekend off and hopefully he will rejoin them back on labor day weekend in darlington. cheryl: all right. lauren: thank you very much for that. cheryl: if you blinked, you missed it. olive garden's $100 never ending pasta passes sold out in less than one second, all 24,000 of them. the passes are going to get you unlimited pasta for nine weeks. if that isn't enough, more than 20,000 of those were able to buy the passes and they were willing to pay an additional $400 to upgrade to the -- i talked about this on maria's show yesterday -- the lifetime pasta passes. lauren: i guess the economy's doing just fine. it is this morning if you look wall street. dow gaining 1%, the s&p and nasdaq jumping by about the same
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percentage-wise still ahead, uber feeling deflated. how the company's pumping the brakes to tackle the recent $5 billion loss. and more than just a warning, why jim an jimmy kimmel's late t show just cost abc hundreds of thousands of dollars. keep it here on "fbn: a.m." ♪ you are out of my league. ♪ all the things i believe. ♪ you were just the right kind. ♪ and were you more than -- ♪ limu emu & doug
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cheryl: we're getting breaking news on congresswoman rashida tlaib. israel has accepted her request to visit israel on humanitarian grounds. they will allow rashida tlaib to visit her family, in particular her grandmother in the west bank. they had barred her and ilhan
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omar on thursday, citing the support for the palestinians and anti-israel comments. but breaking just moments ago, israel will allow rashida tlaib to visit. there are restrictions. more in a little bit. also, news on uber to bring you. they are bringing spending back to earth. reports say the company no longer going to spend $200,000 on balloons. they had used balloons as gifts to employees to of honor maybe anniversaries, other events. now they're going to give out stickers. uber reported a second quarter loss to the tune of $5 billion this week. lauren: let's get you caught up on global market action. it is a global rally. u.s. stocks advanced yesterday on strong consumer spending, jumping again this morning as the 10 year treasury yield holds 1 and-a-half percent, dow up 232, s&p up 25, nasdaq jumping 85. asia responded. most markets there ended in the green. the south korean kospi down half of 1% on the north korean missile tests. and this is how stocks in europe
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look at this hour, also jumping. the ftse up a quarter of 1%. the cac gaining two-thirds of 1%, the dax up half of 1%. with that we bring in neil wilson, chief market analyst. thanks for joining us. >> good morning. lauren: are european markets convinced they are getting a lot of stimulus coming from the ecb next month? >> yeah, well, i think so. i think this what is we've been expecting, that the ecb is going to be forced to sort of move mountains in a way to really unleash a huge amount of stimulus. i think we see that happening with what's happening in china. we see the fed likely leaning towards more rate cuts. i think the market likes this. it's not necessarily much more than was probably already anticipated. lauren: how big do you expect the cut to be? how many more bond purchases do you expect policy makers to announce. what are we looking at? the markets are obviously
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excited about it. >> they are. i think you'd be looking at maybe a 20 basis point cut to interest rates in the near term. renegereignition of the bond bug program. the question mark is how many bonds are left to buy. there was even talk, mr. rome was talking about buying equity as part of this program of stimulus. i think you see the ecb go full japanese, if you like, in terms of the stimulus package. lauren: that's a good point, though. because how much can policy makers really do to juice the economy, it's a question we face here in the u.s. i've heard talk of for our federal reserve having like an inter-meeting meeting where they would be able to cut rates. so before september. have you heard talk about that where you are? >?quickly. >> no, not from the ecb. i think there's that sense that they are pushing on a string and diminishing returns from the
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easing policies. lauren: neil, thank you so much for joining us. have a good weekend. >> thank you. cheryl: we've got some big news happening right here in new york city. especially for you sports fans. there is a new owner for the brooklyn nets. lauren: there sure is. tracee carrasco has the details. tracee: alibaba's executive vice chairman is buying the nets basketball team and its home arena. according to reports, he is paying $3.5 billion for the nba team and the barclays center. he had previously bought 49% of the team. the purchase from current owner, a russian millionaire, could officially be announced later today. using emergency tones on tv is not a laughing matter. fcc fined abc $395,000 for a skit that misused the emergency warning. on october 3rd, the emergency tone was used three times as part of an ongoing skit poking
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fun on the presidential alert that had gone out to electronic devices early that day, which read this is a test of the national emergency alert system, no action is needed. abc says it takes regulatory --y compliance seriously. lauren: let's take a look at wall street, dow gaining 235, nasdaq jumping 90 points. coming up, you're not going to believe why more and more kids are ditching sports. keep it here on "fbn: a.m.." ♪ i'm coming home to you. ♪ with technology that helps you offer shoppers a better experience. take your company's app. we can add in all sorts of capabilities, which help your customers manage rewards, offers, and payments on the fly.
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♪ ♪ lauren: more kids are being forced to leave sports behind. cheryl: whag going on with kids, why are they walking away? >> the amount of kids playing sports is decreasing and especially with low e income and middle-class income families and main reason why, of course, the cost of it, so now the average family will spend 700 per year on it but some families spend upwards $30,000 for their kids per year on sports, in the past,
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pickup games and local leagues and now sports is competitive when you're trying to get the college, you want to play to seem like you're well rounded, you put on resume to get to college. lauren: people lie about it. [laughter] >> part of the things that lori loughlin lied about is their kids played sports. 10-year-olds recruit today play sports and the other public schools doing pay for play because of budget cuts. cheryl: i thought it was school safety, talk about con suición happening to these younger children.
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it is interested what happens with football. lauren: thank you. >> very wood, awesome. cheryl: that's it for fbn:am, we have the dow up 242 points right now in premarket, over the mornings with maria. dagen: good morning, ladies, dagen mcdowell in for maria bartiromo, august friday 16th, top stories at 6:00 a.m. eastern. futures taking a rally, 243-point gain on the dow futures after a very wild week for the markets, hopes of substantial stimulus package from the european central bank, next month, that's really reversing stocks, the dow still down more than 2.6% for the week, all 3 major market gauges to be down for third week in a row but can a strong rally change all that, again, you have to have a 709-point rally on the dow, but you never know in these
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wild times, checking on treasuries, take a look at the 2-year versus oh 10-year, this flipped briefly a couple of days ago where the 2-year was higher than 10-year, historically pretty good indicater of recession on the horizon, that has reversioned and strong number of retail sales, the economy is going strong. president trump says china wants to make a deal, the president with strong words at new hampshire rally about trade negotiations, democrats and your retirement investment, we have the highlights from new hampshire, plus, new fox poll shows someone is going momentum and someone is falling behind in that large pool of democratic hopefuls, how they each stack up in a race against president trump. mornings with maria starts right now. ♪ ♪
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dagen: big show this morning, media director, kevin philips, brewer group, jack brewer and fox business' dierdre bolton, welcome one and all. i am a nerd and carry this with me. this explain it is volatility that we have been seeing. >> it's been nuts. >> we don't want a downturn, look at the futures


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