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

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for victory. we have an armed forces that is unparalleled. to achieve victory there is no substitute for the unmatched cheryl: it is 5:00 a.m. a surprise reversal, president trump says he is not looking at any tax cuts for now. he also continued to talk up the strong economy, even admitting one of the ideas being floated around was, quote, somewhat elitist. lauren: biden under attack one of his 2020 democratic contenders. why one of them says his bid may soon be history. cheryl: apple's new credit card made a big splash when it debuted. is it a secret weapon to sell you more stuff. lauren: if you love college football and tailgating, we've got a dream job just for you. it is thursday, august 22nd. "fbn: a.m." starts right now.
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♪ ♪ you know i love it when you -- ♪ lauren: welcome to "fbn: a.m.." good morning. i'm lauren simonetti. cheryl: good morning, i'm cheryl casone. lauren.lauren: cheryl casone. lauren: dow futures are down 23 points, s&p down 3, nasdaq down 15. of course, after a monster rally yesterday. cheryl: after a brief fall yesterday after the fed minute, taking a look at the 10 year right now, actually at 1.58%, we're holding steady when it comes to the 10 year treasury today. lauren: oil prices are higher. the quote right now is $55.97 a
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barrel, a gain of half of 1%. we saw that drawdown in stocks yesterday. cheryl: breaking overnight, chinese officials telling washington we need to meet halfway or face retaliation. the nikkei, the shanghai closing higher but the hang seng and the kospi actually losing fractionally. lauren: and stocks in europe are tradeing to the downside. take a look at at the ftse in great britain, down half of 1%. angela merkel says a solution for the irish border is possible in 30 days. cheryl: our top story, president trump is banking on a strong economy. now backtracking on those tax cuts. lauren: i had whiplash yesterday. let's get the latest from blake berman. >> reporter: a day after talking about the potential of tax cuts on wednesday, president trump shot down the idea. the president trump saying on tuesday that a payroll tax cut was something that he had been thinking about but then said it's not needed at this time.
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>> i'm not looking at a tax cut now. we don't need it. we have a strong economy. certainly a payroll tax cut, president obama did that in order to artificially jack up the economy. >> reporter: the president also pulled a 180 of on indexing capital gains. on tuesday he endorsed the wednesday but on wednesday he said potential tax benefits should go elsewhere. >> i'm not looking to do indexing. i've studied indexing for a long time. i think it would be perceived as what elitist. i don't want to do that. i want taxes for the middle class, the workers, the workers thaworkheers that work so hard. i think indexing is probably better for upper income groups. >> reporter: the congressional budget office projects the federal government will run a deficit of $960 billion in 2019, raising their projection by $63 billion. over the next decade, the cbo says the annual deficit will run
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roughly $1.2 trillion on average. back to you in new york. cheryl: president trump has been attacking the federal reserve for not cutting rates faster but minutes from the fed's last policy meeting show the numbers were actually -- members were actually divided over whether a rate cut was necessary. they saw the cut as more of a mid-eymid-cycle adjustment. we did see markets tip down a little bit lower on that yesterday afternoon. programming note for you, edward lawrence will sit down with kansas city's fed president, "mornings with maria," 7:30 a.m. on fox business. lauren: breaking overnight, this comes from china, they're warning washington that the planned tariff hikes will, quote, lead to an escalation of economic and trade friction. the trump administration postponed tariff increases that were set for september to december but others are still set to go into effect
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september 1st. beijing also asking washington to meet halfway as it repeats its threat of retaliation if the higher tariffs are imposed. and president trump is defending his decision to fight china. >> somebody had to do it. i am the chosen one. somebody had to do it. so i'm taking on china. i'm taking on china on trade. and you know what? we're winning. i was put here by people to do a great job. and that's what i'm doing. and nobody's done a job like i've done. lauren: those comments getting a lot of pick-up. donald trump added this is a trade war that should have taken place a long time ago by a lot of other presidents. cheryl: youtube is being pressured to take down ads sponsored by china central television, that is the state media channels that's you accused of spreading misinformation about the protests we've seen in hong kong. youtube imbrueser users are comg
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that the ads paint them as the product of foreign influence. youtube had to remove thousands of accounts and pages. lauren: thousands of protesters staged a sit-in yesterday at a train station to remind passengers of a violent mob attack that happened there a month ago. a group of men dressed in white attacked pr protesters and passs by at the station but no charges were filed against any of the attackers. yesterday's sit-in started peacefully and turned tense when protesters sprayed water and set up barricades to keep riot police away. protesters eventually left by train. cheryl: president trump calling out auto executives for putting the brakes on the rollbacks of emission standards. ford, volkswagen, honda and bmw struck a deal with california to produce cars with stricter emissions requirements that can
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be sold nationwide. the president called the car companies, quote, foolish and he tweeted his proposal would make cars cheaper and safer with little impact on the environment. 13 states have vowed to lower emission standards. lauren: two retail stocks we're watching today, north strom and l brands -- nordstrom and l brands. nordstrom posted a strong profit. they lowered the full year guidance for both sales and earnings. cheryl: shares of l brands up 1% in extended trading. they posted disappointing sales. they beat profit estimates but same store sales fell 6%. we'll also hear from dick's sporting goods, gap and ross stores reporting today. lauren: president trump giving some relief to america's heroes. cheryl: we have tracee carrasco with details. tracee: president trump signed an executive order, forgiving
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the student loans of disabled veterans. it would erase any payments on federal income tax for the loans and expedite the process for any veterans who qualify for loan forgiveness. washington's governor dropped out of the presidential primaries. insley failed to gain traction. john hickenlooper is reportedly running for colorado's senate seat. he is looking to unseat the vulnerable first term senator, cory gardner, in 2020. and 2020 candidates are campaigning all over including in grocery stores. nerdy nuts releasing peanut butter featuring some of the candidates. you can pick up joe's dream which is chocolate chip flavored like joe biden's favorite ice cream, feel the burn is cinnamon raisin just like the raisin bran
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that bernie sanders eats on the campaign trail. and trump's triumph, which is like vienna wa vienna wafers. lauren: the s&p is down 4, nasdaq is down 19. still ahead, it's are a twitter tussle, how bill mayer clutched back at rashida tlaib after she called for a boycott of his tv show. an awkward pitch from a 2020 contender. >> i apologize if you ever got to know donald trump, but this new yorker volunteers to get rid of him for you. thank you, everybody. lauren: pretty embarrassing blunder, turning bill de blasio into a laughing stock at a campaign event.
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2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ ) cheryl: bill maher fired back at rashida tlaib after she suggested a boycott of his show. the hbo talk show host tweeted some people have one move only,
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boycott, cancel, make go away. here's the thing. the house voted to condemn the hashtag bds movement including 93% of dems. tlaib wants to boycott 93% of her own party. he was referring to a vote that opposed the boycott. lauren: president trump says he is no longer considering tax cuts to boost the economy. our next guest says the tax turnaround is just verbal tweeting. doug flynn is a certified financial planner and co-founder of flynn zeto capital management. he joins us now. doug, call it what you want. it is certainly backtracking. why? >> well, what it does is it set him up for to i d today where hs talking about how strong the economy is. it sets him up now to talk about how strong the economy is and we don't need the tax cuts. lauren: you think that was
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planned in advance or was it more off the cuff? both donald trump and the white house said they've been considering ways to boost the economy for some time now. >> i think they're always looking at all different ways to boost the economy. certainly a payroll tax cut is something. politicians float stuff out there, see what the pushback is. i think he's one to two steps ahead so he can say something and then turn it around. lauren: a lot of of this is around perception and holding the economy for 2020. he did get pushback on indexing capital gains to inflation, that being elitist. however, there seemed to be support around the payroll tax cut. that's something president barack obama had done. why wouldn't he do that. >> i think it's probably a matter of you don't need it. i think the economy is stronger than people keep wanting to say that it is. you can hover around 2% gdp growth in an around that range
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two, two and-a-half and do really well without overheating and we can turn it into a recession just because we're down from 3, not -- that's not the only reason why we would do that. lauren: let's talk about some of the tools the administration and the fed has in their toolbox to deal with a slowdown in the economy. this is something that the editorial board of the wall street journal writes. they say cut the trump uncertainty tax. his best stimulus policy would be to end history campaign and thin we have overnight china saying meet us halfway, expect retaliation if you go through with the september tariffs. what are your thoughts? >> there's no doubt the tariff uncertainty is causing the fed to sort of waive waver on how mh they're going to cut rates. i think he's calculating the market against that to try to get a better deal for the u.s. as far as where do we go from
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here, the u.s. is a very resilient economy within itself with 70% of it coming from the consumer. we don't rely a lot on exports compared to other countries relative to their gdp. so we can withstand more than i think people think. it is causing uncertainty but i think the economy is fundamentally still pretty good, although lower rates would certainly boost the market. lauren: doug flynn, thank you. cheryl: we have got a lot more coming up, folks. new details about what the guards knew in the death of alleged sex trafficker jeffrey epstein and how he may be manipulating the system from his grave. and it was all a misunderstanding. why actress lori laughlin still thinkshethinks she didn't do ang wrong in the college admissions scandal. you're watching "fbn: a.m." ♪ am i wrong. ♪ thinking this could be for
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lauren: actress lori laughlin doesn't think she did anything wrong for allegedly paying half a million dollars to get her daughters into their dream school. people magazine reports the actress thinks it's the same as making a donation to a library. she is accused of paying $500 million to get her daughter into the university of southern california. the couple pleaded not guilty. cheryl: the criminal case against jeffrey epstein is still active despite his death. the prosecutors are asking the judge to dismiss it. before he does, the judge will hear from the a alleged victims and their lawyers. let's bring in mis misty mayor . ththis was filed in the u.s.
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virgin islands. this makes it more difficult for them to go after the estate. >> this could take up to 10 years for it to be resolved. there are several issues here that make it more difficult for victims. first, as you said, the fact that it's filed in the virgin island. they'll need representatives, lawyers, in the virgin islands to help them navigate the legal system. the second is the fact that his will is a pourover will, meaning it will go into a trust. cheryl: we don'we don'tknow wh. cheryl: i would think if somebody dies, it makes sense the criminal case is being dropped against him. but why do you think the judge is willing to hear from the victims and the attorneys? that seems like a rare move to me. >> this is absolutely a rare move. i think because of the high profile nature of the case and the fact that jeffrey epstein died before victims ever had the
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opportunity to face him in court, the judge is essentially giving those victims the opportunity to speak, the same way they would have if they made a victim impact statement. cheryl: a lot of hearts are breaking for the victims in the case. let's talk about the bureau of prisons. william barr made some comments, saying he will be able to give us results of the investigation soon. they are saying eight officials knew not to leave him alone and he was alone for almost 24 hours. >> it's unbelievable, seeing all the defects in the mcc's process. everything that went wrong is actually quite shocking. and now this washington post article says not only did the prison guards know he wasn't supposed to be left alone, there are managers, supervisors, people in positions of power, how did they drop the ball with the most high profile prisoner
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in the united states. cheryl: the guards are lawyering up and bringing in union officials. >> they're protecting themselves. there are allegations that they cooked the books, that they said they were making rounds when they weren't making rounds. i think you'll see an overhaul in terms of internal process he'ses and maybe some people losing their jobs for sure. there will be a lot to that story as it unfolds. cheryl: next tuesday we'll have a hearing in court with the dismissal and the victims. it will be interesting to hear what they have to say. lauren, over to you. lauren: the host of "dancing with the stars" is trying to dance around the controversy of casting sean spicer. he tweeted, he hoped the show would, quote, be a joyful respite from our exhausting political climate and free from divisive bookings from any affiliation.
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in response, the executive producer l told fox news this. we are excited about the season. i think it's season 28. cheryl: all right. let's take a look at how your money is moving on this thursday. we're seeing a little bit of an escalation in selling. the pressure really kicking down. we've lost about maybe 45 points or so since the start of the show. dow is down 56, s&p down 6 and three quarters, nasdaq down 30 and a quarter. china talking about retaliation. we'll have more on that later on. still ahead, we've got this, fasten your seat belts, president trump shaming automakers, fighting his plan to roll back obama era emission standards. and elizabeth warren catching quite a sight on the campaign trail, the stunning picture of the candidate with her double. you're watching "fbn: a.m.." ♪ can you see the real me. ♪ can you see the real -- insurance,
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cheryl: the 2020 democratic candidates are going to head back to the debate stage on september 12th. abc news says the next round will be held at texas southern university. candidates will need 2% support anin at least 4 national polls d receive donations from 130,000 unique donors to qualify. so far, only 1 o 10 candidates e qualified. the debate will be moderated by george step stephanopoulos. lauren: joe biden is enjoying a somewhat comfortable lead. real clear politics average of polls find that he's leading by almost 8 points ahead of bernie sanders. sanders is almost neck in neck with elizabeth warren, leading by just over half a point there. number seven is cory booker who says that while biden may be in the lead, it is still anyone's race. >> in every election since before carter, we have never had someone leading in the polls
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this far out that went on to be the president of th united the d states. lauren: joining me now are attorney and republican strategist, carrie kim, along with robin byro. i want to start with you, just to go back, the same point in 2016, hillary clinton who had a 10 point lead and she became the nominee. does he have a point, cory booker? >> cory booker does have a point because vice president biden has a tri-fold problem. one, elasticity, his polling numbers have a hard ceiling. that should be alarming considering how pervasive his name id among the democrats are. the more people get to know him, the numbers don't go up. i think that's a result of the second problem which is electability. his entire campaign is focused on the fact that he can win. swing voters don't pick candidates based on whether they can win, they pick them based upon the issues. i think that's why his wife,
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jill biden, went out there and said maybe you don't like my husband, maybe you do, but he can win. electability doesn't work. lauren: that is something that cory booker also spoke about. let's play the bite. robin, respond on the other side. >> the next leader of our party can't be someone that is a safe bet, let's just find the person that can triangulate and get this done so we can beat donald trump. i'm running in his election because i know we can do more than that. lauren: robin? >> he brings up a great point. we have to have enthusiasm. that's what's going to defeat presidenpresident trump this . only candidate showing that amount of enthusiasm right now is elizabeth warren who at her last rally drew in 3,000 more people than donald trump at his last rally. so she's got that enthusiasm. i expect to see her numbers going up pretty soon here and
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that's what it's going to take to turn out the emerging electorate. i want to point out that polls show that 80% of generation z voters said they'll turn out and vote. they've got to have someone they can be enthusiastic about and joe biden's got a tough case to sell. lauren: siri, a, do you think that candidate would be else elizabeth warren and how would she stand up against president trump. >> senator warren has an incredible problem when it comes down to her issues. she is not electable because when you go through her multiple platforms, it's not even far left. it's a complete radicalization of the 19th century fight to bring america into the 20th century. she is going to woodrow wilson the situation and i think that elizabeth warren voters and the democratic electorate need to sit down and figure out whether they can match up with donald trump in the final six months of the presidential race. lauren: as robin said, if you
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have all these young people, gen zer's coming out, do you think it's a game changer? >> i don't think it's a game changer. unlike president barack obama, it's not enough to have one generation of voters. you have to have multiple iterations, you have to bring at least 70 million people to the polls. elizabeth warren will lose people above 50. lauren: we talk about the polls all the time, robin, whether they're good indicators or not. but can you make the argument that the polls in 2019 are done much more accurately than in the past? >> yes. thankfully, they are. up until 2016, the polls were conducted based on land lines and that was by law. so that has been changed and now they can use cell phones. i know that i myself have been getting calls on my cell phones for polls. hopefully they're more accurate. i've got shell-shocked about the
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polls. so i like to think they're anecdotal. but let's just call them interesting. lauren: thank you for joining us. >> thank you. >> thank you. cheryl: well, president trump is taking on the auto industry. he criticized executives for opposing his administration's rollback of emissions standards. he called ford, volkswagen, honda and bmw foolish for reaching a deal with the state of california to make cars with a stricter emissions requirement. let's bring in tim higgins from the wall street journal. there's political pushback but the automakers seem to be doing what in their minds is best for business. what's your perception of all of this? >> it's not all of the you automakers. that's what's interesting. it's ford, volkswagen, bmw and honda. they've come to the conclusion that they should cut a side deal with california because there's a concern that if they don't deal with california, that california's going to come back and pursue tougher regulations
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and they won't have the same rules across the u.s. and that's what they want. they want to have the same rules. cheryl: they want stability, obviously. and plus, politics change and presidents eventually change and that's why it seems they're nervous. let's talk about gavin ne newso. he's making claims that the president is trying to scuttle california's car e emissions standards to help the oil industry. what do you make of that claim by the govern november of california. >> it's been an issue driving the regulations over the last few years, it was ideal that the auto industry cut with the fed back in 2012 because of the uncertainty with california, trying to improve that fuel economy rate and what was done at the time was an aggressive plan to basically get by 2026 to the average of about 37 miles per gallon and the companies
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just say that's too aggressive. cheryl: tim higgins, it's certainly a big story we're going to follow on fox business. thank you, tim. >> thank you. lauren: did you see this? if voters aren't taking new york city mayor's presidential run seriously, his live stream appearance in iowa yesterday probably didn't help. >> there's plenty of money in his world and there's plenty of money in this country. it's just in the wrong hands. lauren: what? bad weather prevented de blasio from appearing in person at that event so he live streamed in, a foul-up with the connection left him sounding more like he had helium leaving members of the crowd hysterically laughing. cheryl: i want to comment but i'm not going to. elizabeth warren supporters may have thought they were seeing double at a campaign rally earlier in the week. warren met stephanie i at the
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rally. she was told she looked like warren in the past but wasn't expected to be mistaken by the candidate. you can see the real elizabeth warren on the right in the light blue sweater. they really do look exactly alike. lauren: i almost think the copycat elizabeth warren looks more like elizabeth warren than elizabeth warren. cheryl: it's hard to tell who is who. lauren: we can certainly tell this, that futures are pulling back more dramatically. dow is down by 71 points, s&p down 9, nasdaq down 37. apple is promising big things with the new credit card but will it also trap you into the apple universe? and aliens are the least of their problems. why the county around area 51 is ready to declare a state of emergency. keep it here on "fbn: a.m.." ♪ into the great wide open. ♪ under the skies of blue.
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they give us excellent customer otservice, every time.e. our 18 year old was in an accident. usaa took care of her car rental, and getting her car towed. all i had to take care of was making sure that my daughter was ok. if i met another veteran,
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products? let's bring in brett larson. that is the question, is this just a lead-in to buying more stuff from them. >> well, because first and foremost you have to a pl applyd within an apple product. you have to be within their walled garden. the process is really cool. i did it a couple weeks ago. from start to approved and able to use it's under a minute. so you apply for it in the wallet app on either the ipad or the iphone and then it's immediately ready to use with apple pay. if you go to some place that doesn't have apple pay -- lauren: there's no number on the card. >> there's nothing on it. it's got my name on it which i'm fine with people seeing that, that is my real name. on the back, it's the mastercard and goldman sachs logo. lauren.cheryl: what does the cd offer that others don't? >> it gives you cash bark o bacl of the purchases. lauren: who pays that?
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the merchant or apple? >> generally the her chant. 3% is when you're shopping at apple. they announced yesterday with the card becoming available that if you use it with uber, you get 3% of the purchase back. you get it back the next day, within the next day you get the cash back, they put it in your account. if you use the plastic card they give you 1% back. if you use apple pay, the electronic payment, you get 2% back. they're really incentiveizing you to buy apple products and to use the apple pay feature. cheryl: a lot of the tech sites are making fun of apple. they released guidelines to keep your apple card clean. it can't touch leather. it can't touch denim. you have to clean it with alcohol. what is that? lauren: it's almost for show. >> it tollly is for show. lauren: -- it totally is for show. >> next year they'll be like now you can get the rose gold apple card. the metal credit card has become
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this status symbol. the am partl ex card is metal. the security features, they're ahead of the game. that's where i think they'll push some of the other card makers. lauren: what prevents me from taking your card, exhibit it onlsince it onlyhas your name og it at my own. >> i can go in the app and stop it immediately. you can go into the app and get a 16 digit number, put it in and it's good for as long as you want it to be. when you're done, you can say stop making this number work. lauren: is this the way apple can get us more into their ecosystem and sells us more things and also services. >> absolutely. you're incentiveized to buy apple services. you get a bigger amount of cash back with it and it's built into your phone. when you set up the apple pay or the apple card, rather, in apple pay, the first question it says
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is do you want to make this your default payment method. they're really getting you. i'm curious to see how this pushes the other credit card companies in terms of just the security features alone. they've been talking a lot about that, a lot of it they're not telling us about. but a lot of it is -- it's a very secure system when you consider -- when you consider i can show you my credit card on tv, you know there's -- and if you stole it, i'll just get another one. cheryl: we'll see if other companies try to kind of up their game along with apple. i don't know. airline points, there's a lot of other offers out there, so we'll see how -- >> that's always the thing. lauren: and there's bitcoin. >> and venmo has their credit card as well. cheryl: brett larson, thank you. >> growing space. cheryl: catch brett on fox news headlines 24/7, sirius xm channel 115. it is official, former colorado governor john hickenlooper said he will seek the nomination for
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cory gardner's seat, a must win for the left, hoping to take back the senate. lauren: it started out as a joke on facebook but an event called storm area 51 went viral. more than 2 million people accepted the invitation to invade the famous military base in nevada, believed to be holding aliens. that's what commissioners in nevada's lincoln county to preemptively declare a state of emergency. the creator of the event has since canceled it. it was scheduled for november 20th. nevada officials are not sure how many people will show up anyway. cheryl: it started as a joke on facebook and it's become an actual thing. the town is flipping out. take a look at the action on wall street. we have a little escalation in selling over the last half hour. now the dow is down 70, s&p down 8 and three quarters, nasdaq down 36 and-a-half. more comments from china
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overnight, possible retaliation on the tariffs in the trade war. still ahead, how long is too long to be in a an airplane? why one airline wants to put fliers to a real test. it's not leonardo dicaprio, not tom cruise, we'll tell you who got crowned hollywood's highest paid actor, stay with "fbn: a.m." ♪ something in the air in hollywood. ♪ the sun is shining like you knew it would. ♪ you're driving in your car -- oh yeah, sure. um. you don't know my name, do you? (laughs nervously) of course i know your name. i just get you mixed up with the other guy. what's his name? what's your name? switch to geico®. you could save 15% or more on car insurance. could you just tell me?
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i want this to be over.
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♪ i'm leaving on a jet plane. ♪ don't know when i'll be back again. ♪ oh, babe, i hate to go. cheryl: how long is too long to be in an airplane?
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quantas testing a 20-hour nonstop flight to australia to see if passengers can han handl. lauren: futures are lower, dow is giving up 70 points, the nasdaq and s&p also down. in europe, stocks trading to the downside as well. the ftse is down 42, the cac, 27, the dax down 34. german chancellor angela merkel challenging boris johnson to come up with a plan in 30 days to avoid a hard brexit. nick watson is a fund manager at janice henderson investors. he joins us now. nick, this has to do with the irish backstop. can they solve that problem in a month? >> i certainly think 30 days is quite an ambitious time horizon. if you look at what's been going on, merkel and johnson's
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discussions are certainly more constructive than lots of people are expecting. not a huge amount has changed. the u.k. and europe remain far apart in terms of future trading arrangements between the u.k. and europe and the divorce agreement. so i don't think that this is a viable time horizon. over the preceding couple weeks, some of the discussions were slightly less constructive. this is a step in the right direction. it remains to be seen what president macron says. lauren: we see boris johnson meeting with european neighbors to basically say help us. is a hard brexit in october inevitable? >> i don't think you can say inevitable. if you look at data coming out of germany, the manufacturing sector remains in recession. no one is going to benefit from a hard brexit scenario. the best thing to look at in terms of is there a game changer on the horizon is what happens
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to sterling. sterling on a trade rated basis is up 1 and-a-half percent in august. if there's a game changer you would expect to see sterling rally. lauren: nick watson, thank you very much. cheryl: a billion dollar protein deal making news this morning. lauren: tra tracee carrasco hs details. tracee: simply good foods is buying quest nutrition for $1 billion that specializes in protein. they control the atkins brand. a stranger things star gets into the beauty business. millly bobby brown known as 11 on the hit netflix series is launching her own beauty line called florence by mills. all of the products will be cruelty free and vegan with teen customers in mind. and the highest paid actor of 2019 is the rock. according to forbes' list of top paid actors, dwayne the rock johnson took in $89.4 million
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between june 1s 12018 and june 1st, 2019. chris hemsworth was second, followed by robert downey, junior and jackie chan. that's what's happening now. cheryl: calling all college football fans. cheap tickets looking for the first ever tailgate tourist. they will travel the country in search of the best college football towns, visiting five schools to experience game day fun. you can even bring a friend. you get $1,500 for tickets to the games. the contest goes through august 30. lauren: let's do it. what would make going to the gym better? how about a few cocktails. we're talking to the founder of a cutting edge gym that not only promises free drinks but even accepts bitcoin. keep it here on "fbn: a.m.." ♪ i'm down for the count. ♪ hey girl, you knock me out. ♪ it's just a the -- just a tko
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at fidelity those zeros really add up. ♪ maybe i'll win ♪ saved by zero
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cheryl: breaking barriers, high-intensity workouts and full bar as well as accepting bitcoin, let's bring in bill,
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founder, thanks for coming in. >> thanks for having me. cheryl: why the switch and why the switch in boxing? >> new way to workout, fun way to workout. it's a killer workout, 50 minutes, people love it. we added lights and sound, the great music and intense club-like feeling and you walk out and you have a bar where you can socialize, you know, you can have a mocktail or cocktail. 75% of the class has been sold out this week. cheryl: this has a soul-cycle vibe. let's talk about bitcoin, that's
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gotten folks attention. >> we believe in bitcoin, my son went to university and learned about bitcoin, he invested some of his bitcoin profits right into the business. i'm in business with my son and daughter and just tremendous. we accept bitcoin. he loves it. cheryl: visionary. >> of course. cheryl: report that is some instructors are making a thousand dollars an hour, i've never heard of that in fitness world before, how is that possible? >> instructors are the new super star, they get you motivated. i go to some of the other places, it's boring, our instructors are the best. we do interviews, paying so much money, we had over 300 people come to interviews, we had
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people from tel aviv, moscow, we picked the 9 best and the people will motivate you and get you going. you have 50 minutes and they really are just -- you have come and see it, it's extraordinary. cheryl: i'd like to, if you get the following for soul cycle founder got, they ended up expanding and got bought by equinox. more cash down? >> no, we are doing a 5 million-dollar coupon right now that's convertible that's to open second location in san francisco. great location, right next to a soul cycle. cheryl: smart move. great to meet you. >> nice to meet you. everybody should come out and have a drink.
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lauren: sign me up, thank you so much for watching fbn:am, let's hand it over to mornings with maria. maria: hey there ladies, good morning, happy thursday, everybody, i'm maria bartiromo, thanks for joining us, august 22nd, top stories right now before 6:00 a.m. on the east coast, u.s.-china trade turmoil once again moving through markets, china says it wants to meet the u.s. and warping more tariffs to escalation of economic. the economy does not need new stimulus. focus on the federal reserve, the minutes are out, mid-cycle adjustment, not the start of series of deeper cause. the numbers with inversion of yield curve, taking a look at what investors should be concerned about and impacting stocks right now lower opening this morning, down 64 points on the dow industrial, following
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broad-base rally, mornings with maria begins right now. ♪ ♪ maria: big program this morning, joining the conversation fox news contributor corks lum nis for the hill, liz peek. wall street journal assistant editorial and nancy, great to see everybody today. daily caller christopher bedford joining us on

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