Skip to main content

tv   FBN AM  FOX Business  July 11, 2019 5:00am-6:00am EDT

5:00 am
reminder, you can catch my show, "bulls and bears" right here on the fox business network. thanks for joining us. lauren: it is 5:00 a.m. here are your top stories this hour. tensions with iran rising this morning after an attempt to seize a british oil tanker in the persian gulf, just as president trump warns he is ready to slap more sanctions on tehran. cheryl: google, facebook and twitter accused of bias against conservatives. the summit consider i criticizie gathering before it's starting. lauren: the war of words between b nancy pelosi and alexandria ocasio-cortez hits a brand-new high. the behind closed door comments that are sparking a divide. cheryl: parents are hiring coaches for their kids but it's not for sports. the new outrageous pricey trend
5:01 am
that is taking over. it is thursday, it is july 11th. "fbn: a.m." starts right now. ♪ ♪ wal walk away, walk away, walk away, walk away. ♪ i will follow. ♪ i will follow. cheryl: welcome to "fbn: a.m.." good morning. i'm cheryl casone. lauren: good morning. i'm lauren simonetti. let us take a look at how your money is moving this morning. you're going to like it. the nasdaq will open at a record high today. the s&p 500 will re-cross the historic 3,000 level as investors say a july rate cut looks like a lock. cheryl: the 10 year has been sensitive to all things federal reserve including the expectation of that rate cut. as you can see, the yield is 2.04%. actually a small fall today.
5:02 am
we have seen the yield on the rise recently. lauren: the oil rally certainly continues. wti at a seven-week high, $60.76 a barrel with a storm brewing in the gulf of mexico, oil platforms being evacuated. cheryl: as u.s.-china trade talks on the phone, we're waiting for more confirmation of further meetings between the two countries. it's green across the screen in asia. lauren: in europe, stocks are trading to the upside as well. it's a nice day worldwide. you have the london market and paris market up a fifth of 1%. cheryl: breaking news to bring to you, iranian military gun boats tried but they failed to seize a british oil tanker in the strait of hormuz. u.s. defense officials told fox news the five iranian vessels only backed off after a british war ship approach, t threatening to open fire. this comes after iran's' president warned the u.k. the consequences for seizing an oil
5:03 am
tanker in the strait of gibraltor last week. lauren: iran is enriching uranium beyond the threshold laid out in the 2015 nuclear deal. president trump tweeted this, that more sanctions against iran are coming soon. cheryl: well, in other news this morning, social media is going to be in the hot seat in dc today. the white house is holding a social media summit which is likely going to discuss the president's claims that conservative voices are being silenced online. >> i don't want to say whether or not they're doing something but i will tell you there's a lot of people that want us to, and there's a lot of people -- all you have to do is pick up a newspaper and read it or see it or watch fox or some other network, there's a lot of people that want us to take action against facebook and against twitter and frankly against amazon. lauren: th the companies being accused won't be at the summit.
5:04 am
facebook and twitter andal taked alphabet were not invited. representatives from the companies will be present on capitol hill next week before the house judiciary to discuss anti-trust claims that might be coming down against them. cheryl: we'll have more on that topic later on in the shoasm now to this, jay powell is going to be in the hot seat today in dc. the federal reserve chairman returning to capitol hill to testify on the economy and interest rates before the senate banking committee, one day after appearing before the house financial services committee. lauren: we'll get more on powell's first round of testimony to congress from edward lawrence. good morning to you, edward. >> reporter: good morning, cheryl and lauren. the federal reserve chairman, jerome powell, laying the ground work for a rate cut at the end of the month. he outlined how the weakness in the economy comes from the global slowdown and trade tensions, starting to seep into the u.s. data. still, the federal reserve chairman touting this 11-year
5:05 am
economic expansion with unemployment at nearly a 50-year low for the past 15 months. >> what we're hearing, we're hearing this quite a lot from people who work and live in low and moderate income communities, is that there really hasn't been a recovery for these people until recently. >> reporter: powell was asked about presidential pressure on whether he would leave if he was asked by the president to either step down or say that he's fired. the federal reserve chairman says he has a four-year term and he is not going anywhere. he then talked about three uncertainties which could cause problems. first, brexit. the federal debt ceiling, which has not been dealt with. and trade tensions. now, in business context, the fed says they're hearing that especially the trade tensions with the chinese trade agreement is sort of concerning to a lot of their contacts. >> we've agreed to begin discussions again with china and while that's a constructive step, it doesn't remove the uncertainty that we see as overall weighing on the outlook.
5:06 am
so i would say that the bottom line for me is that the uncertainties around global t growth and trade continue to weigh on the outlook. >> reporter: powell says ratifying the usmca also would clear up some uncertainty. he says the fed will use all of the tools in their power to help the expansion continue, pointing to the fact that low unemployment has reached people -- reached segments of the population that have not been touched by expansion up to now and bringing them back into the workforce. back to you. lauren: edward, thank you very much. keep it here on fox business for complete coverage and anal sis of jay powell's second day of testimony on capitol hill. cheryl: robert lighthizer is expected to meet with house speaker nancy pelosi today to discuss the way forward on passing usmca. the add medicin administration s congress to approve the deal as soon as possible. white house advisor mark short says he thinks the agreement
5:07 am
will be voted on this fall. vice president mike pence is going to promote the benefits of usmca during a stop in california to. lauren: steven mnuchin has been urging u.s. companies to seek exemptions from the president to resume sales to huawei. huawei has been blacklisted by washington. president trump in a concession as part of the trade truce with china agreed to grant exemptions in case that's would not affect national security. cheryl: strike two for the trump administration, a second federal judge rejected a request by the justice department to change the team of lawyers in the census case. the department wants to replace the team who had been defending the administration's plan to add a citizenship question to the 2020 census. the judge agreed with the first judge. here's what he said, a shift in counsel at this late stage may be disruptive to an already complicated and expedited case. lauren: the nypd reportedly did
5:08 am
not check in with multimillionaire jeffrey open timepsteinsince he was labeled l three sex offender since 2011. cheryl: alex acosta defended how he handled epstein's sex trafficking case in 2008. he blamed the palm beach district attorney's office. >> the palm beach state attorney's office was ready to let epstein walk free, no jail time, nothing. cheryl: across the take said the u.s. attorney's office intervened a brought a new charge that required jail time and registration for epstein as a sex offender. the state prosecutor at that time said in a statement wednesday i can he emphatically state that mr. acosta's recollection of this matter is completely wrong. lauren: deutsche bank under investigation by the justice department. cheryl: tracee carrasco's got details on that. tracee: good morning.
5:09 am
the u.s. justice department looking into whether deutsche bank violated anti-money laundering laws when working for a malaysian fund. it has been at the center of a fraud scandal that led to $4.5 billion being stolen and even throwed the downfall of the former malaysian prime minister. corruption in puerto rico, the former puerto rican education secretary along with five others arrested on allegations they used over $15 million in federal funds to pay for lobbying at illegal hiring of political allies. puerto rican government tweeting yesterday the allegations against the people arrested today are a shame. buckingham palace breached, a 22-year-old man was arrested in london after he scaled the front gates at buckingham palace and broke into the queen's res depositioresidencewhere she wast away. it took police about four
5:10 am
minutes to apprehend the man. this is two days after the 37th anniversary of a similar case when a man was arrested after he broke into the queen's bedroom. and it's raining money. drivers on a highway in georgia pulling over to cash in after a door on an armored truck flew open, sending thousands of dollars in cash flying through the air. but it's not a payday for the driver. local police are asking those who picked up the money to return it or else face misdemeanor charges. roughly $175,000 still missing after the mishap. that's what's happening now. lauren: i guess the cameras will show who took the money. tracee: who pulled over and stopped. cheryl: thank you very much. let's take a look at futures on this thursday as we get ready to hear once again from jay powell on capitol hill. he helped markets yesterday. right now, futures are higher, dow up 73, s&p up 8, nasdaq up 28 and a quarter.
5:11 am
still ahead, elizabeth warren going after corporate america again. but this time her strategy may go up in smoke. we're going to explain. and parents are hiring coaches for their kids. but it's not for sports or their math homework. we've got the outra outrageous w trend coming up. you're watching "fbn: a.m." ♪ some nights i wish that this song would end. ♪ i could use some friends for a change. ♪ and some nights i'm scared you'll forget me again. s to mar. $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. content on their endless quest, to nowhere.s, run hopelessly in their cage. but perhaps this year, a more exhilarating endeavor awaits.
5:12 am
defy the laws of human nature,at the summer of audi sales event. get exceptional offers now. dear tech, let's talk. you blaze trails... but you have the power to do so much more. let's not just develop apps, let's develop apps that help save lives. let's make open source software the standard. let's create new plastics that are highly recyclable. it's going to take input from everyone. so let's do it all, together. ♪ ♪ let's expect more from technology. let's put smart to work. ♪ ♪
5:13 am
5:14 am
cheryl: the next trade conflict with france is over tech. u.s. trade officials are looking into a french tax that could affect companies like google and amazon. trade representative robert lighthizer says the u.s. is very concerned that the tax unfairly targets american companies. so this proposal would apply a 3% tax on revenue that the tech giants get from targeted ads and digital marketplaces within france. lauren. lauren: climate change is a top concern on the campaign trail. senator elizabeth warren running for president reintroducing a bill requiring public companies to disclose critical information such as greenhouse gas emissions. warren also wants to hold companies accountable for their contribution to these environmental risks. but what cost will this place on corporate america? we asked rebecca walter, walter wealth participate ceo. good morning to you.
5:15 am
>> good morning, lauren. lauren: is this fair, her proposal? >> the problem is this. you cannot apply this kind of cost on public american companies when 1.3 billion in india, and people in china, won't have anything to do with any kind of climate change measures that will stop and prevent climate change. the other thing that's a big problem for american companies is it's legislating their viewpoint that frankly is still not proven and exclusively accepted across the board by everybody. you've still got scientists out there that say that the earth has been changing its climate for thousands of millions of years and, therefore, how do we know it's actually huma human involvement that has this kind of impact. lauren: this is the taste of what we're getting from the left and how corporate america could respond. give us a taste of what you expect to hear from jay powell today, day two, this time before
5:16 am
senators. >> i was really surprised. obviously the market reacted yesterday, he was doveish and we do expect a rate change. i don't think it's going to be 50 basis points. lauren: what do you think it will be? >> i think 25 and then we'll be stuck. that's going to be it. that's okay. i'm not really huge on a rate change cut right now anyway. i think the june jobs report was enough to keep us at a pause. but if they want a cut, the market priced it in yesterday. it went to 3,000 for the first time and i was like oh, my gosh this is really crazy. i was surprised his comments on facebook's libra and his comments on the debt ceiling and really paying our bills and not leaving them to the next generation. i thought he was really insightful on that and since the debt ceiling is so close, i think there will be a focus on that today with the senate. lauren: senators probably anxious about the need to raise the debt ceiling, maybe sooner than they would like to. >> yeah, absolutely. lauren: we have the futures
5:17 am
higher. we can expect to he see morallies on wall street today. is it warranted? how high do the markets go? >> lauren, of course everyone is really happy that they are going to get this rate cut. we went down since friday. it's really been this weird world of things are not acting normal. normally we get a great jobs report and the market's happy about that. they were not happy about that because they thought we were not going to get a rate cut. when powell came out, his first comments before his actual testimony, we were happy. lauren: rebecca walter, thank you very much. and obviously what the chairman says will move the markets today and it looks like to the upside. thank you. >> thanks, lauren. cheryl: still ahead, the tsa is making major changes thanks to a report that you heard first right here on fox business. we've got details coming up. and it's consulting-a-if consulting dr. google wasn't bad enough for your health, another
5:18 am
service wants to tell you the multitude of things wrong with you. yep. you're watching "fbn: a.m." ♪ i'm hooked on a feeling. ♪ i'm high on believing. ♪ that you're in love with me. ♪ ♪
5:19 am
5:20 am
most of us don't know how much data we use, but we all know we're paying too much for it. enter xfinity mobile. america's best lte with the most wifi hotspots, combined for the first time. when you're near an xfinity hotspot, you're connected to wifi, saving on data. when you're not, you pay for data by the gig. use a little, pay a little. use a lot, just switch to unlimited. get $400 back when you buy the new lg g8. call, visit or click today.
5:21 am
lauren: the transportation security administration making changes, thanks to a report by our very own hillary vaughn, after she reported that the food catering trucks were allowed to pass through airport gates without proper screenings, the tsa asked inspectors to change the screening process for the trucks. in a new memo, the tsa recommending that food trucks and their searches be conducted by tsa employees and not outside contractors or airline workers. cheryl: hillary's back with us with a look at the investigation
5:22 am
into how facial recognition technology is being used to keep our borders secure and whether or not officials are coverting using your driver's license photos. hillary, good morning. >> reporter: good morning, lauren and cheryl. customs and border protection and the transportation security administration said to lawmakers yesterday in a hearing, facial recognition technology is not being used to spy on americans, and they don't see this technology as surveillance at all. >> what we're doing is absolutely not a surveillance program. we're just replacing the evaluation and scrutiny of the physical id with the secure algorithm. >> we don't do surveillance. >> reporter: they responded to reports that i.c.e. has been scanning through millions of american's driver's license photos without knowledge or consent. they do scan driver's license photos with states that have a written agreement with dhs that marks citizenship on their driver's license so they don't need a passport to cross the border. law makesers grilled the cbp and
5:23 am
tsa over whether or not facial recognition technology recognizes some faces more than others and that can lead to discrimination because a false positive or accidental flag could mean people get detained for no reason. >> the data right now is that women and dark-skinned people are misidentified more than anybody else. >> age, race, and sex. >> that women and dark-skinned people. >> yes. >> reporter: the cbp also addressed the cbp day a take breach that exposed thousands of traveler photos. wagner said they are investigating and there could be criminal action taken against the subcontractor that was hacked. lauren and cheryl. lauren: hillary, thank you. president trump's claims that conservative voices not being heard online will be the focus of a social media summit taking place at the white house today but facebook, twitter, and google reportedly not invited to
5:24 am
attend. cheryl: our next guest says without those companies present today it will be more of a spectacle than a summit. let's bring in tech analyst ian wishinggrad. basically, there's an analysis in wall street journal that says without the companies present it will be like a campaign event. >> it's like an island of misfit people and journalists to complain. it's a talking about instead of a summit about social media. you can't not have those companies there and call it a summit. lauren: they will be present at the anti-trust hearings in july on capitol hill. what do you expect congress to ask, lawmakers to ask them? >> this is the beginning of a protracted process that i think will end with some sort of regulation, anti-trust. the bigger issue here is that this -- elizabeth warren is saying break up big tech. it's once again another talking point. people want their data safe,
5:25 am
they want to figure out what's going on. but breaking the companies up doesn't solve the issue at the core of it. so i think this is going to be a complete referendum on anti-trust laws. they'll have to be done differently. cheryl: it is an anti-trust hearing. it's house judiciary which that is their mandate, if you will. but also, washington post reported that a lot of the lower -- a lot of the leaders of the companies, they're not going to come, it's going to be lower level executives. vice president of google is not a bad job but are they going to get anywhere with the executives. i rearealize they'll be on the defensive. >> they spend millions on lobbying. they're probably telling them this one you go to this one you don't go to. how you play your hand here is very important. lauren: there's also talk of facebook launching the digital currency libra. listen to the fed chairman speaking about that yesterday. we'll get your response on the other side. >> i think that there are deep,
5:26 am
important, serious questions across a range of issues here that will need to be addressed and the process of doing that is going to have to be patient and thorough and not a sprint. cheryl: i want to add something to this. he talked about -- he said it's about privacy, money laundering, consumer protection, financial stability. that's why he's concerned about libra. i think he made great points yesterday. >> 100%. there's a few things. he's not incorrect, facebook has broken our trust so many times, it's definitely okay to have a pause and go, what, you want to get involved in money transfers. the thing you need to take into account, facebook will say it's about making the ease of passing money back and forth. what happens in technology is the more things become easy, and you take away the barriers, the less safe things become. it's not unreasonable to say
5:27 am
time out. lauren: facebook and many other companies, we use the word regulation. maybe we should use the word legislative certainty. they clarity on how they can play in digital currency or some of these other newer fields. we're begging for a rule book. >> 100%. that's a good point. everything changed. that's why they say technology always comes ahead of legislation. when the legislation comes, we're using an old playbook that doesn't work and that's why they originally looked silly when zuckerberg went on capitol hill. you need the next generation officials to help make that happen. cheryl: thank you for getting up early. lauren: take a look at futures this morning. we could see and likely will see more records today. the nasdaq is up 30 points, s&p 500 up 8, dow jumping 71. up next, the u.s. economy may be booming. but apparently not for everyone. why some are ringing the alarm bell for men. and the very public feud between nancy pelosi and alexandria ocasio-cortez, why the
5:28 am
freshman's twitter tirades are rubbing the speaker the wrong way. keep it here on "fbn: a.m." ♪ she drives me crazy. ♪ like no one else. ♪ she drives me crazy. ♪ and i can't help myself. [ dogs barking ] what about him? let's do it. [ sniffing ] come on. this summer, add a new member to the family. hurry into the mercedes-benz summer event today for exceptional offers. lease the glc 300 suv for just $419 a month at the mercedes-benz summer event. going on now.
5:29 am
5:30 am
5:31 am
...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. cheryl: let's get you caught up on global market action. another day of gains on wall street, futures pointing to a substantially higher open, dow up 79, s&p up 9, nasdaq up 31 and a quarter. we're getting ready for jay powell's second day of semiannual testimony on capitol hill. now to europe, those comments he made yesterday about the rate cut really sending markets higher, that's helping global markets. european indices are in the greengreen as you can see. now asia, preliminary
5:32 am
discussions, u.s.-china trade talks seem to be back on track. all markets in asia also in the green. lauren: feels like christmas in july. louisiana under a state of emergency as severe flooding stuns new orleans. flash flooding turning streets into rivers, forcing some residents to cut across town in kayaks. cheryl: take a look at this, dark clouds and a water spout touched down on a local lake. let's bring in meteorologist adam clots in the fox weather center for all the latest. >> it's going to be a big couple days for the weather for the forecast along the gulf coast. this is what we're looking at, it's a broad low pressure system bringing rain across the gulf coast, likely becoming a tropical storm before today is over. currently it's forecast to get up to a category 1 hurricane before making landfall early on saturday. that's the current forecast. there's a little bit of time for this to shore up as we're talking about a slow-moving storm. these are flood watches and warnings across the gulf coast,
5:33 am
mainly us in louisiana. we've seen bands of rain from this system ahead of it. we're not into the heavy stuff yet. that's what makes the system so scary, is the worst is still to come. the wind will push up a wall of water. we've got a forecasted storm surge of getting anywhere from 3 to 5 feet along the louisiana coast, including up towards new orleans. i want to leave you with a final tropical storm model. again, this is still a little bit early because it's so he slow-moving, we've got a general idea that this is going to turn into the louisiana coast. there are a couple models that take it further down the road. this updates every six hours or so. we'll be watching this over the next couple days. lauren: 14 years since cat n k. we're watching the oil industry bracing for the first hurricane of the season, has halted about a third of oil production in the gulf of mexico. one of the many reasons the price of crude oil is at a
5:34 am
seven-week high, up 31-cents this morning at $60.75 a barrel. cheryl: tensions with iran continue as we reported at the top of the show. 2020 presidential candidate joe biden likes to talk about his time as president obama's vice president but maybe he should have followed his commander in chief's example. biden has been making use of a tax loophole that obama tried to close. that loophole saved he and his wife as much as half a million dollars, according to the wall street journal. as biden tries to shore up support from the hispanic community, in his bid to show his worth in the race. peter doesy is in washington with all the details. >> reporter: joe biden has a new pledge about immigration policy. >> i'm going to do a whole lot, 23% of all the kids in grade school are hispanic and latino. if we don't pay attention, the country can't grow. >> reporter: democrats from the
5:35 am
congressional hispanic caucus have questions about his record. >> we believe the policy under president obama was way too harsh and created the environment that we are now living in. >> reporter: behind closed doors, democrats also asked why there wasn't more reform while biden was vp. >> he went through and explained in detail, didn't say everything worked out well and i think he's got some issues that he has to work with. again, it's something that's so nice when he doesn't demonize people. instead, some mistakes were made. he didn't throw obama under the bus either. >> reporter: biden is refocusing on immigration issues, this comes as one expert say the seg grosegregationist debate is old news. >> he got hammered in the debate. it's not as clean a hit as we thought. >> reporter: joe biden has probably visited more countries than anybody else running for president, 57 as vp. back then, he was promoting
5:36 am
barack obama's foreign policy. in new york, the former vp will lay out what foreign policy will look like for this country under a president biden. peter doocy, fox news. cheryl: i have to go back to what we talked about, this is the loophole for s-corporations that he and his wife actually used for books and for speakingespeakingengagements. the former president tried to close the loophole. he was like no problem, i'm going to take it. doesn't it kind of smell for biden to do something like this. >> it goes to show that biden was never the largest part of the obama administration. the obama administration was all about president barack obama, the first black president. he has a care a charismatic alte and he swept the nation. biden is trying to say obama and i go way back and sort of they do. but i think to a certain extent
5:37 am
obama has really rejected him and the proof of that is the fact that obama hasn't endorsed biden. that's going to hurt biden going forward i think this is more evidence of that. cheryl: michelle obama said they're waiting to see who the candidate is. you've got quite the fight going with nancy pelosi and the four freshmen female democrats she's going after. she basically told them enough is enough. i want to show you this statement. this is interesting. she says all these people have their public whatever and their twitter world but they didn't have any following, there are four people, that's how many votes they got. she is taking another swipe at aoc. what do you make of that. >> absolutely, yes, i think -- i'm sorry. yes, absolutely, she's going after them. in fact, yesterday after she made the statement, aoc talked to the washington post and said pelosi was actually going after women of color in the congress,
5:38 am
which is a pretty remarkable thing for her to say, essentially accusing pelosi of racism and she's been acoosing -- her staff has been accusing her and other members of the democratic party for supporting the child policies at the border. rewind a month or so, there were two bills in the congress, there was one put up by the democrats and aoc said no, we're not going to support that. there was one put up by republicans and she said no, we're not going to support that. the end of the day, what sort of solution is she really looking for? cheryl cheryl: she was doing a radio interview and aoc said we shouldn't have a department of homeland security. remember 9/11, aoc. i had to add that. anders, thanks for being here. lauren: speaking of the department of homeland security, the u.s. is planning a crackdown on illegal immigrants. cheryl: tracee carrasco's got that story.
5:39 am
good morning. tracee: u.s. immigration and customs enforcement planning nationwide raids to arrest thousands of members of undocumented families in the united states. that's according to the new york times. the arrests are scheduled to begin on sunday and last several days. those appresent preparedded will be -- apprehendedde apprehendedt to detention centers in texas and pennsylvania. pressure for pg & e. the california power company is ordered to respond to a wall street journal article that allege the company failed to upgrade power lines, knowing they could potentially cause wildfires. the company is being blamed for the wildfires that have killed dozens of people in california in recent years. pg & e has until july 31st to respond to the article. high unemployment in men, new data from deutsche bank showing employment for men between the ages of 25 and 54 has declined by roughly 100,000 jobs despite record low unemployment and strong jobs numbers.
5:40 am
the study attributes the change to a decline in middle skilled workers and an increase in automation. some are calling the new statistics alarming. and alexa, do i have the flu? the u.k.'s healthcare service teaming up with amazon's alexa to help the voice assistant offer medical advice to usesers. the british government said the system is aimed to help senior citizens and the blind who have trouble accessing the internet. critics are concerned about the risk the new system brings to data privacy and that's what's happening now. lauren: or false diagnosis. tracee: that too. cheryl: my doctor told me, cheryl, get a off of google. stop it. just ask me. lauren: investors think the federal reserve will cut rates this month for the first time in over a decade and that is boosting futures. dow gaining 71, s&p up 8, nasdaq up 30. coming up, a major legal victory for president trump, a lawsuit against him and his washington hotel is thrown out. so this is proof the president's
5:41 am
right about presidential harassment. todd piro is here to break down the case. and how one coach is using the u.s. women's soccer team big win as a teachable moment but not the way you think. keep it here on "fbn: a.m." ♪ don't go for second best, baby. ♪ put your love to the test. ♪ you know, you know you've got to make him express how he feels. ♪ en- ohhh. ooh ohh here we go, here we go. you got cut off there, what were you saying? oooo. oh no no. maybe that geico has been proudly serving the military for over 75 years? is that what you wanted to say? mhmmm. i have to say, you seemed a lot chattier on tv. geico. proudly serving the military for over 75 years. you ok back there, buddy?
5:42 am
my ideal cloud? it has to work like air traffic control. it's gotta let new data integrate with data from our existing systems. ♪ ♪ be able to pull from reservation platforms built 20 years ago. and also be able to use apps to book super-personalized trips on shiny new phones from the future. plus, i need freedom to move my workloads wherever, whenever - but manage it all from right here. and that's the cloud i want. simple, right? expect more from your cloud. ibm cloud.
5:43 am
5:44 am
lauren: president trump gets a major legal victory after the courts agree to throw out a case accusing him of using his hotel in washington, d.c. to funnel foreign money. cheryl: todd piro joins us with more on how the president and his administration are reacting. >> reporter: the fourth circuit ruling that dc and maryland's interests here were so random that they shouldn't have used the legal system in the first place. what is the clause? it's part of the constitution that prohibits federal officials from receiving gift, payment or other thing of value from a foreign state or its representatives. the complaint is that the president's earnings from the trump international hotel violate the clause when a foreign leader stays there. the fourth circuit said because dc and maryland are not harmed by this, that they cannot bring a suit. the president taking to twitter to celebrate. quote, word just out that i won a big part of the witch hunt. the decision in my favor on the
5:45 am
ridiculous case. i don't make money but lose a fortune for the honor of serving and doing a great job as your president, in parentheses, including accepting zero salary. the president's attorney continuing the victory lap. >> this whole lawsuit and the whole clause issue is -- it's presidential harassment. i use that term because i've been practicing law for 40 years and you see case a after case, issue after issue, where there's no lee legal issue to a lawsuit but they do it anyway. >> reporter: the fourth circuit didn't rule on whether the clause was in fact violated here, just that dc and maryland didn't have standing to complain about it. back to you. cheryl: thank you, todd. well, alex morgan and team usa aren't sick of winning just yet. the world cup champs taking home the espy for best team and
5:46 am
morgan also named best female athlete. >> sorry, but this is the second trophy we won this week. cheryl: the kansas city chiefs winning the best game award. patrick mahome took home best nfl player award. lauren: a hockey player stole the show, he ripped out tooth on-stage. >> i guess we're good now. cheryl: they all lose their teeth in hockey. i swear they do. ryan o'reilly and the blues getting the espy for best comeback after winning the stanley cup title. an assistant hockey coach's locker room speech goes viral after he told his players to respect the anthem or get out.
5:47 am
>> we're not women's soccer. we're not the nfl. if there's anybody here that's going to be disrespectful to either the american or the canadian national anthem, grab your gear and get [bleep] out now because you'll never see the ice in this arena. we don't have that problem in hockey. we're better than that. but there's no sense in wasting anybody's time if that [bleep] is going to happen. cheryl: the coach making it clear there's no room for that kind of protest on his team. lauren: i love it. and i love this. the streaming wars are on. now there's one entertainment industry titan that is weighing in picking winners and losers when it comes to streaming and one man's mirro miraculous encor with a cactus. keep it here on "fbn: a.m." ♪ i keep on breathing. ♪ just keep breathing and breathing and breathing and breathing. ♪ this is the couple who wanted to get away
5:48 am
who used expedia to book the vacation rental which led to the discovery that sometimes a little down time can lift you right up. expedia. everything you need to go.
5:49 am
5:50 am
5:51 am
lauren: oh, netflix. some of the subscribers mourning the upcoming loss of friends to warner media's hbo max service about to launch. all signs pointing to a streaming war that is only just beginning to heat up. cheryl: at the big sun valley media conference yesterday barry diller likeened the battle of the streamers to an arms race. let's bring in brett larson. it was so interesting what he said. he basically said netflix isn't going to be taken off the top spot but he said the one threat to netflix is disney. i thought that was really interesting. >> disney plus, which is coming out later this year, early next year, the price point that they gave shocked everybody. they're going to be around $7 a month. and it's the disney library. we're talking about star wars, the simpsons, family guy, you name it, pretty much disney owns
5:52 am
it. anything you watch on abc, espn sports, it will be on disney plus. so it's looking more and more like we're going to go from the cable model where we're paying hundreds of dollars a month for a bunch of channels, some of which we want, some of which we don't want, to the streaming service model where we pay for all these different streaming services to make sure that we can access everything. here's -- we did some math on this. the average cable satellite package, just over $100. if you get rid of cable and you want to add up everything else, hulu's $6, 8, $9 for netflix, amazon $9, hbo $15. you throw in disney, that's another $7. then you add in other streaming services, cbs -- cheryl: you're holding a plateful of examples. you might as well show the viewers. >> this is the a la carte package. this is what people complain about with cable. when you sign up, you get channels you don't necessarily
5:53 am
want. cheryl: fox business obviously. >> you want fox business and then we add in disney channel, a little disney channel action there and now we're looking at $15 a month. lauren: studies show that people only want three of these. they're only going to pay for their three streaming services. so who is the winner, who is the loser? obviously, barry diller says netflix. >> the benefit netflix a had for the past several years, they were kind of the only game in town. if you wanted to put your content somewhere else, if it wasn't broadcast tv or cable, you would license it to netflix. cheryl: you know who is in trouble potentially is hbo. at&t has taken over time warner. in a famous meeting a year ago, they said it isn't about $15 million to produce one episode of game of thrones, we don't need hours per week, we need hours and hours and hours per day. they're going to have to start
5:54 am
acquiring and producing new content. >> as we're seeing with a lot of these streaming services is people are signing up for stranger things and they'll binge watch the eight or nine episodes and they cancel it and go to the next service. they need to give you a reason to stick around. cheryl: russian doll on netflix, a perfect of a good show. you can catch brad on fox news headlines, 24/7, sirius xm channel 115. lauren: we all still have traditional cable. just saying. cheryl: we do. lauren: parents are hiring coaches for their kids but not for sports. a pretty crazy reason with a pretty crazy price tag, coming up. and how one man escaped certain death at the hands of a cactus. keep it here on "fbn: a.m." ♪ come on now, junior, take a wild ride. ♪ hey, can you make it on the wild ride. ♪ no crying, no shaking on the -- -driverless cars... -all ground personnel...
5:55 am
5:56 am
5:57 am
...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. ♪ ♪ >> parents are hiring coaches for their kids and it's not for scores or video games, screen-free parenting choices on the rise in excessive screen time for children. offer solutions, getting a dog.
5:58 am
you will have to pay, cheryl, up to $200, so much more on all of this podcast, we are momming today. cheryl: driver was not hurt but couldn't escape arrest when a cactus went over his window, yes, the cactus went through windshield, he's okay but potential dui. lauren: let's take a look at global market action, we are setting up for another day of gains and records on wall street, dow is up 79 points, nasdaq will see 8,000 again. cheryl: investors gearing up for second day of testimony from jay powell, his comments yesterday
5:59 am
expanding into europe as well, as you can see we have green arrows across the board in europe. >> july rate cut is basically a look at this point. at least that's what investors are betting on. we will see what happens in day 2 today, thank you for joining us in fbn:am. maria: first day july 11th, federal jerome jay powell drawing markets higher, powell signaled rate caught maybe on the way. the dow, s&p entered new highs yesterday after powell spoke only nasdaq managed to end the day at record high. escalating tensions with iran, iranian gun boats tried to seize a british oil tanker, british warship intervened.
6:00 am
the very latest, severe storms hitting the gulf of mexico, state of emergency declared in louisiana as royal evacuated in new orleans with massive flooding, bitcoin plunging this morning after fed jay powell expresses concern about facebook's new offering, mornings with maria begins right now. ♪ ♪ >> big program this morning, coming up philadelphia federal reserve president in studio this morning

140 Views

info Stream Only

Uploaded by TV Archive on