Transcripts For FBC FBN AM 20240714 : comparemela.com

FBC FBN AM July 14, 2024

Im so gad so glad we made it. So glad we made it. Youve got to give me some loving. Give me, give me some loving. Cheryl welcome to fbn a. M. Good morning. Im cheryl casone. Lauren good morning. Happy monday. Im lauren simonetti. Cheryl lets take a look at how your money is moving this morning. Weve got green across the board on hopes of a u. S. China trade deal, at least restart of talks. S p is up 31 and three quarters and nasdaq up 129. Lauren the yield on the 10 year treasury is moving to the upside. 2. 03 . Cheryl we have Economic News to look out for, data on manufacturing will be coming out and Construction Spending. Lauren take a look at asia, markets in hong kong closed today. We are watching antichina protesters retake to the streets. The shanghai composite skyrocketing 2. 2 overnight. Cheryl finally, the Global Optimism is hitting european markets as well, as you can see. Again, all of this thanks to the g20 meeting. The ftse, the cac and the dax are all higher. Lauren he thats our top story this morning. Wall street could hit new records today on a trade truce between President Trump and chinas xijinping this weekend. Cheryl the meeting one of the highlights in a weekend that was filled with several productive one on ones for the president. Garrett ten any has the latest. Reporter it was a historic weekend with the eyes of the world watching as President Trump met with kim jong un for a third time and last night after landing in dc, the president tweeted about the weekend, so many Amazing Things happened over the last three days, all or at least most of those things are great for the United States, much was accomplished. This meeting between the president and kim jong un was supposed to last just a few minutes but ended up lasting for more than an hour with President Trump saying the two sides have agreed to get the denuclearization talks back on track. But he stressed that he is not in a rush to get just any deal done. Speed is not the object. We want to see if we can do a comprehensive, good deal. Nobody knows how things turn out. But certainly this was a great day. This was a very legendary, very historic day. Reporter the president s other big meeting the world was watching was with chinese president xijinping as they discussed their ongoing trade disputes and stalled negotiations to reach a trade deal. President trump said the talks are back on track but on Fox News Sunday the president s top Economic Advisor said there is no time line for the two sides to reach a deal. Resuming the talks as the president said, continuing the talks which had been interrupted for a while, is very big deal. No promises. Theres no deal made. Theres no timetable. I want to emphasize that. The president said several times this is about the quality of the deal. Reporter two big meetings this weekend but very unclear about how either of those intense situations will play out. Lauren and cheryl. Cheryl we are following breaking news out of hong kong this morning. There is chaos and violence, protests breaking out again today. These are live pictures on the streets of hong kong, just after 5 00 p. M. There in the afternoon. Thousands hit the streets to once again voice their displeasure of a recently proposed extradition bill and the call for the resignation of carry lamb. Lamb delayed any action on the proposal but hasnt officially taken it off the table. Thats what the protesters want. This comes as we mark today the 22nd anniversary of the former british colonys return to china. People tried to break into hong kongs legislature earlier, smashing windows. Police warning the protesters to stop charging before they begin to use force. Lauren we have sad news to bring you out of new york. A former new york city detective who was a leader in the fight for the september 11th Victims Compensation fund has died. Luiz alvarez appeared with jon stewart last month before the house judiciary subcommity urging money to extend the money. He entered hospice care days later. He was diagnosed with cancer in 2016. He blamed his illness on the three months he spent in the rubble of the world trade center. He was 53 years old. Cheryl now to rising tensions out in the persian gulf. Iran says it will soon breach uranium stockpile limits despite european efforts to save the 2015 nuclear deal. Lauren we have the latest from jerusalem for us. Reporter amid tension between the United States and iran, the deadline laid out by the iranians for breaching their uranium stockpile limit is 10 days away. This comes after a failed attempt this week by the remaining parties in the Iran Nuclear Deal to apiece tehran by figuring out a way to get around u. S. Sanctions. They said they will speed up uranium enrichment that will break the limit of the weight threshold laid out in the nuclear deal. The Trump Administration continues to sanction the Iranian Regime in an effort to discourage their Nuclear Production and provocative military action. Irans Supreme Leader and eight guards commanders were sanctioned by the administration after iran shot down a u. S. Drone earlier this month. Despite the economic actions, President Trump said this weekend at the g20 success mitt in japan that he was in no rush to deal with iran. British Prime Minister theresa may attended the summit and expressed a need for diplomacy. Its been almost two weeks since iran carried out an attack in the persian gulf. This lull may give diplomatic channels a chance to work and find a solution in the near future. Lauren lets get to other headlines this morning. 10 people are dead after a small twin engine airplane crashed into a vacant hangar yesterday near dallas. Officials say no one survived the crash at the addison municipal airport. The plane crashed and burst into flames shortly after takeoff. An investigation is underway. Amazon founder jeff bezos divorce expected to be the most expensive settlement in history. Reports say bezos will pay 38 billion to his soon to be exwife, mackenzie bezos. She is said to be taking a 4 stake in amazon, making her the fourth Richest Woman in the world. A trial date has been set for elizabeth holmes, in august of 2020 and it is expected to last three months. She is accused of lying to doctors and patients about blood test results. Thernos reached a valuation of 9 billion before unraveling. Pepsi is testing water in cans. They will start using aluminum cans for water starting next year. The company said the switch is expected to remove more than 8,000 metric tons of plastic from the environment. Cheryl a couple of big stories were following here. Of course, that trade truce if you will, that meeting between president xijinping and President Trump really giving investors optimism now that talks are going to restart, some of these restrictions lifted off of huawei, that maybe just maybe a trade deal is in the future. Dow up 271, less than a percent away from a record close, the s p less than half a percent away from a record close. We could see new records for the dow and s p today. Nasdaq has a little ways to go but that index is actually up 1. 68 . Strong day for markets. Were also watching oil, of course the saudis and the russians talking about more production cuts, thats putting pressure on the contract we watch in this country, and that is wti, up 2. 7 . Brent also over in europe that were tracking has been higher as well. Well, the green that we are seeing across the board coming on the heels of a trade truce again between the United States and china. But what the cease fire is going to mean for you and the fallout for Telecom Giant huawei. And if youre planning a big trip, you might want to be careful. The newest way hackers can get to you. Youre not going to believe where they can get to you. Youre watching fbn a. M. Got to break it up now. When i think about tomorrow. Ooh, i cant wait to your daily dashboard from fidelity. A visual snapshot of your investments. Key portfolio events. All in one place. Because when its decision time. You need decision tech. Only from fidelity. 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. Cheryl a sigh of relief for invests after President Trump and chinese president xijinping agreed to h resume trade talks when they met in japan over the weekend. The president discussed the meeting with fox news Tucker Carlson in an exclusive interview which airs in full tonight. Watch. You just recently hours ago met with the chinese president , xijinping. I did. Are you closer do you think after that meeting to a trade deal . I think so. We had a very good meeting. He wants to make a deal, i want to make a deal, probably the largest deal ever made of any kind, not only trade. We got along very well. We understand each. Cheryleach other. Cheryl riley. The two leaders had a good one on one, and a facetoface. Theres optimism out there. Both gentlemen face pressure at home. I think the pressure is different. Chinese president xijinping is facing some communist Party Leaders who dont want him to give anything to the United States and President Trump is getting pushback from some in his own party, like marco rubio. What do you make of what we saw over the weekend . I think the truce that we have, that we saw over the last weekend is good. Its good progress. Certainly the last thing we want to see is an increase in tariffs. Now i think we can start working towards removing the tariffs that have been in place until this date. Potentially we could have a deal by the end of the year, i think. Im an optimis optimist on this. Both sides are getting pressure, both ways, to get a deal and to not get a deal. Cheryl Edward Lawrence ran into secretary ross at the airport as he was departing south korea and mr. Ross said nothing is on the books, im optimistic but nothing is on the books. All of this has to be lower level discussions. Thats where things fell apart before. How likely are we to make advances on the lower level side . We could see in a week things fall back apart. Thats the way things have been going over the last year. Theres a lot of uncertainty in the progress of these negotiations. Again, though, i think the president he wants a deal. He said it himself. President xi, he wants a deal. I think eventually we will get there. The problem is how long it will actually take. Over the weekend, we didnt hear details about what was agreed. I think theres going to be a lot of pressure from washington to find out what was in the details. Cheryl what do you make about huawei becoming a bargaining chip in the trade talks . We thought those two issues would be kept separate. Now its intertwined. Maybe thats not a surprise to you or other policy watchers out of washington. But how haway howway huawei n called a National Security threat to the country. Now u. S. Companies will be selling them equipment. Was this the right move . A lot of details need to be figured out. We need to find out what actually was agreed upon. The president , he has cheryl u. S. Companies will be selling equipment to huawei. I mean, theyre not were not going to be taking their smartphones right now but this is an opening up of the relationship. The president said hes not going to really back down on our National Security interest. So again, finding out what the exact details are when it comes to huawei and the trade deal, i think theres going to be a lot of pressure from washington on this. Certainly we dont want to see our National Security concerns used as a bargaining chip for a trade deal. Cheryl well, its there now. Anyway, investors are loving it. Futures are looking great. Riley, thank you so much. Dow up 257 on all this in the premarket. You can watch Tucker Carlsons exclusive interview with President Trump tonight 8 00 p. M. Eastern on the fox news channel. Lauren the Chinese Market up big on this as well. Trip advisor releasing its travelers choice awards, ranking the best travel experiences of the year. Number one is the city wonders guided tour of the vatican. The Sistine Chapel and saint peters in rome. The package allows you to skip the long lines at the sites. It allows you to gain access to restricted areas of the vatican and touring with highly trained expert guides. Cheryl . Cheryl they wouldnt n the vatican. I was wearing shorts at the time. Lauren cover your shoulders, cover your legs. Place of worship. Cheryl we have futures up strong, big start to the trading day as the u. S. And china came to a trade truce over the weekend. Dow up 251, about a percent away from a new record, s p about a half a percent away, s p up 29, nasdaq, weve got a while to go. Its up 125. We shall take it. Coming up, is former vp joe biden losing his touch . Why after this weekend he may want to watch his back. And a new report says the grubhub has been jacking up restaurant prices. Huh. Details ahead, fbn a. M. Whoa, whoa, i never realized what a kiss could be. This could only happen to me. Cant you see. Cant you see. That when i lauren still benefiting from her debate performance, Kamala Harris climbing into third place in a new poll by morning consult. She has support of 12 of those polled, double what it was before the debate. Joe biden still leading the pack but his standing slipping to 33 . Is the media and are critics placing too much emphasis on one debate in a series of 12 . Lets ask emily larson of the washington examiner. What do you think about that . I think there is a point to that criticism, that this is only the first he debate. We have many more to go. Many voters arent paying attention to the democratic primary race yet. Its a Long Campaign season. I do think that joe biden and his team should be worried right now. He had a lackluster debate performance. Kamala harris had sort of skyrocketed in this debate performance and depending on whether theyre going to be able to bring his debate performance back uptospeed and be able to brush off some of these attacks in a stronger stature, thats the question of whether he will continue to drop or not. Lauren joe biden has a long history of legislation, of civil rights advances, take a listen here to senator lindsey graham. Anybody that knows joe biden, theres not a racist bone in his body. Thats not a cliche. Thats a reality. But the narrative is that maybe its not his time and thats hes not up to the task. I think youll underestimate joe biden at your own peril. Lauren do you think voters are considering that history, not just the 60 seconds on the debate stage. Thats something the left leaning voters are considering. The party and the democratic primary this time around is sort of a race to the left, were seeing very left wing policies like medicare for all, many candidates on the debate stage said they would support giving free healthcare to undocumented immigrants. And so this is something that joe biden is going to have to deal with, even if the vast majority of voters and including Republican Voters might think that he does have strong civil rights record, this is something with his recent comments even over the weekend about having a hoodie and five years ago it was okay to make fun of a gay way tear, thes waiter, these are things that will get him in trouble with the base and give him negative headlines in the media. Lauren as the party moves, lurches left, do you thinks theres room for evolution of culture, for making a distinction between what anyone in this case, joe biden, said or did or supported decades ago and where they are now . There is definitely a distinction of culture aspect but the question is whether voters will think biden is the person to carry the torch of the Democratic Party into the future. I dont know if we know the answer to that yet. Lauren emily, thank you very much. Cheryl walmart is turning to Virtual Reality to help hire new middle managers. The wall street journal says the company is using a vr head set for skills asetment to see how assessment to see how workers handle scenarios, maybe a messy shopper or aisle. Vr training is used in a variety of industries to educate workers or to assess the technical qualifications of more high school workers, maybe like pilots or electricians. Lauren im sure its cheaper too. Cheryl different ideas. Lauren if you checked, it is july 1 today. Happy july. If you look at futures, absolutely surging on the trade truce coming out of the g20 oveover the weekend. The dow coming off the best june since 1938, its up another 1 this morning. 255 points to the upside. Still ahead, President Trump returns from that historic meeting, not only with xijinping of china but also north korean president kim jong un. Is kim heading to washington next . What is the future or the possibility of a deal with north korea . 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