Its wednesday, october 2nd, fbn a. M. Starts right now. Hands on your waist and go. Get up, get up. Hands on your waist and go. Get up, get up. Lauren cheryl welcome to fbn a. M. And good morning. Im cheryl casone. Lauren good morning. Im lauren simonetti. Cheryl lets take a look at how your money is moving on this morning. This bright and shiny morning. Not so shiny. Dow is down 116, s p down 14, nasdaq down 45. Were going to get breaking Economic News later this morning. Adp jobs report is going to be coming out, private sector jobs, pmi, measure of manufacturing activity, that will be closely watched after yesterdays big miss with manufacturing data. Lauren worst read in 10 years for u. S. Manufacturing yesterday. That is chilling stocks worldwide, in asia down arrows, the kospi is down 2 in you south korea, china still closed for a holiday. Cheryl there is pressure on european stocks. We are waiting for Boris Johnson to officially announce an i ultimatum to the eu. Lauren we have developments in north korea. The country has fired a Ballistic Missile off the east coast, the south korean government said the missile landed in the sea near japan. This comes a day after kim jong uns regime announced it will hold working Level Nuclear talks with washington this weekend. The north has conducted more than 10 weapons tests since the summit in vietnam that fell apart back in february. Cheryl the state department issued a statement and they said this, we call on r north korea to refrain from provocations, abide by their obligations under u. N. Security Council Regulations and remain engaged in negotiations to do their part to ensure peace and stability on the Korean Peninsula and achieve denuclearization. Lauren secretary of state mike pompeo is set to speak at the vatican this morning. Hes expected to address democrats after being named a fact witness in their push to impeach President Trump. Cheryl Griff Jenkins joins us from washington as the president has called the investigation a coup. Griff, good morning. Reporter good morning. The secretary of state may be overseas but a lot is happening at home. House democrats claiming mo pomo is a fact witness to continue choirly and warning blocking access to the witnesses could be an impeachable offense. Secretary pompeo has been pushing back against subpoenas, issuing issuing a lo democrat, writing im concerned with as expects of the committees request that can be understood as an attempt to intimidate and treat improperly of the professionals of the departments of state. The chairman responded in a letter to john sullivan, writing that pompeo appears to have an obvious conflict of interest because he reportedly participated in the ukraine call. He said given his role in the events under investigation, the committees may infer he is trying to cover up Illicit Activity and misconduct including by the president. This would be a blatant coverup and clear abuse of power. They add that any effort by pompeo to intimidate or prevent witnesses from testifying or withhold documents from the Committee Shall constitute evidence of obstruction of the impeachment inquiry. President trump continues to rail against that inquiry, tweeting that what is taking place is not impeachment but, quote, a coup, intended to take away the power of the people. That drew reaction from kamala harris, who is tweeting directly at twitters founder, saying its time to do something about this. As for what we know is happening, guys, state Department Inspector general is headed to the hill for an emergency meeting and tomorrow former u. S. Envoy to ukraine will be deposed and former u. S. Ambassador to ukraine will appear on october 11th. One thing is for sure, this is moving quickly. Stay tuned. Cheryl griff, thank you very much. You want to tune in to mornings wi maria today because obviously were going to be taking secretary pompeos press conference from italy, expected about 6 30 a. M. Eastern time this morning. Lauren President Trump is expected to unveil his medicare plan today. Sorry, tomorro when he is in the state of florida. The president is planning sign an executive order calling for further privatization of medicare, by expanding Medicare Advantage which covers a third of seniors. Bernie sanders and Elizabeth Warren support medicare for all. So despite impeachment talk, the president is actually doing things. Cheryl President Trump and the Republican National committee raised 125 million for the third quarter. The president s Reelection Campaign says there was an 8. 5 million infusion from small donors, in just 48 hours, right after House Speaker nancy pelosi announced a formal impeachment inquiry. Interesting timing here. The democratic side, senator Bernie Sanders raised 25. 3 million in the quarter Pete Buttigieg brought in 19. 1 million. Kamala harris raised 11. 6 million. Joe biden, senator Elizabeth Warren have yet to release their campaign numbers. Lauren senator Elizabeth Warren is slamming Facebook Ceo Mark Zuckerberg after this audio was leaked. Elizabeth warren thinks its the right answer to break up companies. If she is elected president i would bet we would have a legal challenge and i would bet we would win the legal challenge. Lauren senator warren said what would really suck is if we dont fix the corrupt system that lets giant Companies Like facebook engage in illegal competitive practices and repeatedly fumble their responsibility to protect our democracy. Zuckerberg commenting on all of this. This is what he wrote on facebook. Even though if it was went to be internal rather than public, now that its out there, you can check it out if youre interested in seeing an unfiltered version of what im thinking. Cheryl Facebooks Libra project could be in trouble. The wall street journal says visa mastercard and other partners in facebooks Digital Currency are having secretary thoughts about having this second thoughts about having this venture with facebook. The company is running into opposition from u. S. And european government officials over privacy concerns and possible exploitation of libra by criminals around the world. Sources say Companies Working with facebook on libra wont openly support the project to avoid scrutiny from regulators. More than two dozen libra backers are set to meet in washington tomorrow so expect more news on this developing story. Stock in the premarket, facebook down almost 1 right you now. Lauren the Union RejectedGeneral Motors latest Contract Offer to end the walkout which is in the third week and a has cost gm and estimated 1 billion. The union has put a new counter proposal on the table but a part shortage due to the strike is forcing gm to temporarily close a plant in mexico which makes the pickups, which can make it harder for u. S. Drivers to drive a new pickup truck home. Well get new quarterly numbers from General Motors and ford today. We may not see impact on gm from the strike but overall sales industrywide have been slowing. What does that say about the economy . Cheryl lets head overseas. Protesters in hong kong disrupted Subway Service today as pro democracy demonstrations against Police Continue there. The confrontations turned violent yesterday. We told you about that yesterday morning. An 18yearold protester shot in the chest with a live bullet china this week is marking its 70th anniversary of communist rule. One district is being compared to a combat zone. Lauren a trade deal with china may be getting harder to achieve amid all of this after the worlds second largest economy just celebrated 70 years of communist rule. Cheryl busy week in china. Edward lawrence is in washington with the latest details. Reporter good morning. The chinese celebrating the formation of the peoples republic of china, 70 years ago, with a show of force and strength. President xijinping attended a military parade. That parade included chinas newest you Nuclear CapableBallistic Missile. This was the first time weve seen it. It is said to have the range to strike any target in the United States. During the speech, president xis speech, very little about opening markets china trade. He did talk about chinas strategy of holding to a winwin cooperation going forward. The chinas prat president alsod no force can stop the Chinese People and the chinese nation forging ahead, a very strong nationalistic speech. It may be hard for him to come to the u. S. And offer concessions. Still the u. S. Is pushing for them. The issues of forced intellectualroperty transfer, the issue of subsidy of soes, the disrespect for intellectual property, the whole panoply of equal Market Access complaints that weve had over the years. Without those, it isnt really a very satisfactory arrangement. Reporter the white house hopeful that china will come to the table with more, not just buying more agriculture. Secretary wilbur ross says that he could have had that deal with just agriculture about two andahalf years ago. The president would like the to see a full deal. Back to you. Cheryl edward, thank you. Well, President Trump is going to be welcoming the president of finland to the white house to. Lauren Tracee Carrasco is here with what theyll talk about. Good morning, tracee. Tracee good morning. The president will host the finnish president later this afternoon. Theyre expected to discuss ways to improve 5g options to huawei technologies. Washington has led a campaign to convince allies to ban huawei from their 5g network, accusing the company of spying for beijing. Huawei has denied the allegations and also on the agenda will be russian and chinese ambitions in the arctic. Officials in los angeles are pressuring California Governor Gavin Newsom to declare a state of emergency over the citys homeless crisis. Supporters say it would suspend or streamline the regulatory hurdles the that often slow down shelter and housing development. As estimated 27,000 people in the city live outdoors in tents, cars, or leantos. Hashed varharvard university cae its admission process. A federal judge said it doesnt discriminate against Asian American applicants. A group sued the university arguing the school was admitted members of underrepresented ethnic groups at the expense of Asian Americans. And cocacola is getting into Energy Drinks p. Cocacola energy will be available here in the u. S. In january. The drink is already launched in 25 countries, rival monster had tried to stop coke from selling its drink, arguing it violated the terms of a longterm Distribution Partnership but an Arbitration Panel ruled in favor of coke. And that is whats happening now. Cheryl what kind of caffeine bomb is that going to be . Tracee way more than regular cocacola. Cheryl okay. Well, get ready for that. Thank you very much. Lauren i think the market can use some of that this morning. Yesterdays selloff, investors were scared by the latest manufacturing data. They flew to the safety of bonds. Is that continuing today . Yes. Dow down 113, s p down 13. Coming up, more changes at juul as the number of vaping deaths rises and a lawsuit is in the works. Well have the latest for you. And more workers could be on the unemployment lines as robots take over. We have shocking numbers, how robots may already be hurting your paycheck. And as we head to break, heres a look at todays National Average for gasoline, 2. 66 for a gallon of regular. Keep it here on fbn a. M. Im on the edge of glory. And im hanging on a moment of truth. Im on the edge of glory. And im hanging on a moment with you. Im on the edge Liberty Mutual customizes your Car Insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Thand find inspiration who win new places. Ct. Leading them to discover were woven together by the moments we share. Everything you need, all in one place. Expedia. Should always be working harder. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Lauren another Top Executive from ultria making his way over to the ecigarette maker juul. Joe morillo will join the company. This comes as virginia and new jersey report more deaths from vaping, bringing the National Total to at least 16. Juul is also facing a lawsuit from a long island teenager who accuses the company of using manipulative advertising to keep users hooked. Cheryl speaking of lawsuits, Johnson Johnson settled a suit in cleveland to the tune of 20. 4 million. J j is the Fourth Company to settle in the case. It accuses drug makers of helping spark the opioid addiction in the United States. The epidemic, that is. Counties in ohio have been hit hard by the opioid crisis. Lauren a weak manufacturing report erasing gains for the dow and s p 500. Is the report more evidence that the u. S. Economy is facing recession in the near future or is it just one data point . Todd horowitz, chief strategist is here. Good morning, todd. Good morning, lauren. Lauren are you worried . No. I think that look, i think were in the very early stages of a recession, lauren. Again, they happen. And were going to have a recession at some point and they dont just show up one day. A recession starts with manufacturing numbers, starts with changes in employees, starts with company ceos starting to liquidate company stock. They start very small and dont announce theyre going to start and then a year from now or six months, whenever it shows up in full bloom, theyll say were in recession. We already started that. I think maybe the adp jobs number may show that as well. Lauren youre saying its creeping up in the data. Adp comes out at 8 15, expected to show 140,000 private jobs added in the month of september. What if on friday when we get the Big Government jobs report and we look under the hood, we see that wages arent increasing as fast as they were. Is there anything youre looking at at in particular that would really, really worry you at this point in Economic Cycle . Yeah, i think if you look if wages are not rising, i think thats going to be a problem. I think if the numbers start to change, if we see if we miss the number badly and of course the street will interpret that, well, the feds going to cut rates, so that puts us in a different position but the end of the day were seeing a weakening economy globally and you cannot avoid it when everybody else is doing the same thing and the fed is obviously theyve lost tir mind as well. Lauren i want to get to the fed but speaking of rates, theres a story in the wall street journal that people are going into auto dealerships and theyre taking out car loans of seven years. Does that concern you about the health of the consumer . You know, Lauren Lauren seven years, your car is broken and youve poured money into it. This goes back to when they had 0 financing and they created the debt but they never got paid. Theyre lending money on a depreciating asset that nobody will be able to pay for. One of the countries is were a buy the month society. Six months from now, a year from now, the loans will not be he satisfied. You cant take a seven year auto loan on things that will fall apart and break, which the country is built on. Lauren todd, thank you for joining us. Hopefully we get a surprisingly positive read in a few hours on jobs. Lets hope so. Cheryl lets talk about banks. Banks are making Big Investments in technology and this could lead to 200,000 jobs cut over the next decade. Financial firms are reportedly spending about 150 billion on Technology Every year. Robots have already taken over in call centers and online chat rooms with one Banking Company l claiming that most people dont know theyre already talking to a computer. And theres a new report from the Federal Reserve bank of San Francisco that says that more and more of the nations income is going to robots and computers. Workers make up only 56 of the National Income versus 63 back in 2000. 2000. Well get the jobs report number today, that is human job