Planning to pay for it. Lauren and how p mans best friend can be an actual life safer. It is wednesday, october. Fbn a. M. It is wednesday, october 9th. Fbn a. M. Starts right now. Even while we sleep. We will find you acting on your best behavior. Turn your back on mother nature. Everybody wants to rule the world. Lauren some tears for fears this morning. Good morning, im lauren simonetti. Cheryl im cheryl casone. Lauren yesterday, the dow fell over 30 points, this morning we have a rally of 91 for the dow, nasdaq up 35. Cheryl stocks are moving higher, were looking for rate cuts as you can he see, so were kind of looking at markets in asia as well right now, taking a look at how chinese stocks are. You can see the h nikkei is undr pressure. Hang seng, thats lower. Kospi is closed for a holiday in south korea. Lauren and in europe, stocks are trading up this morning, just fractionally. The best gain is in germany, three quarters of 1 . Cheryl we have got breaking news this morning. China is planning tighter visa restrictions for u. S. Nationals with ties to antichina groups, according to a report by reuters this morning. These proposed curbs are seen as basically retaliation by china and it would follow similar u. S. Restrictions on Chinese National as relations between the countries continue to deteriorate. There were high hopes this week that u. S. China trade talks could go in a positive direction but the hopes currently fading. Lauren 28 Chinese Companies were black listed because of alleged human rights violations. Lets go to Edward Lawrence in washington with the very latest. Reporter good morning, cheryl and lauren. Two days of deputy level talks have concluded. Were looking forward the thursday, friday he meeting when the heads of the two trade teams will meet. Now, the chinese very upset this week now that the u. S. Has added 28 new Chinese Companies to the entity list for National Security and Human Rights Concerns. Some of the companies, the Chinese Government has a huge stake in ownership there. This makes a total of 77 Chinese Companies on the list. In a statement, the Chinese Foreign ministry pushed back, saying they urged the u. S. Side to immediately correct the mistake and stop interfering in chinas internal affairs. The state Department Adding to this, also restricting visas for a number of government and communist officials if they were coming to the united states, based on Human Rights Concerns with a Minority Group in china that folks are speaking about. Now, the white house economic advisor, peter nov navarro saidl of this is separate. He wants a great deal for the American People. Look, this is a man of steely resolve on this issue. Hes standing up to china and, look, investors need to relax for a couple days and see what happens rather than get fidgety and trade around the margins. Reporter the vice premier is coming here for talks on thursday without the title of special envoy for xijinping. That means he doesnt speak for the president of china and would ultimately make the decisions related to trade, so thursday and friday are primary level talks, these will be a big indicator as to if we can have a trade deal in the feature or not. Back to you. Cheryl meanwhile, one of the 27 Chinese Companies thats on the entity list that edward mentioned, its megv technologies. Its partly owned by a Chinese Investment firm in which joe bidens son, hunter, has a stake. Hunter biden and his father have come under scrutiny over hunters business dealings in china and ukraine. President trump said they should be investigated. Lauren nba commissioner, adam silver, is on the way to hang high today to make amends between the league and china. He will attend two preseason games between the la lakers and Brooklyn Nets. China wont televise those games and china has suspended business relationships with the nba. New developments this morning, the lakers event in shanghai was canceled, hours before it was scheduled to begin. This this reaction to tweets from darryl mauery showing support for hong kong protesters. Cheryl Golden State Warriors coach is facing criticism for not commenting on the issue. He has been vocal on his criticism for President Trump and republicans. He refused to take a stand on the sports controversy. We will dive this into topic later on. Amid all of this, vans shoes is facing calls for a boycott. The company removed a shoe that had an antichinese design from a sneaker design competition. The decision drew condemnation on social media. That sparked a hashtag, ban vans. Lauren tiffany had a an advertisement with a woman with her right eye covered and they removed that because everything is seen as controversial right now. The white house is refusing to cooperate with the impeachment inquiry. They called it unconstitutional. The announcement comes after the state department blocked the Eu Ambassador from testifying on capitol hill moments before he was supposed to testify. Cheryl a new report says the whistleblower had a professional tie to one of the democratic president ial candidates. Weve got Griff Jenkins live this morning in washington with the latest and this is a pretty shocking revelation, griff. Good morning. Reporter it is, cheryl and lauren. Good morning. That coming from the Washington Examiner l. Lauren, you mentioned that last minute blocking of the Eu Ambassador, we may never hear from him. Hes subpoenaed. Or any other member of the administration, for that matter. The white house is declaring war on this impeachment inquiry. The white House Counsel wrote, quote, President Trump reject your baseless and constitutional efforts to overturn the democratic process. Your actions left the president with no choice. President trump and his administration cannot participate in your partisan and unconstitutional inquiry under these circumstances. They laid out several reasons why they believe the inquiry violates due process. The speaker was outraged, shooting back in a letter, saying the white house should be warned that continued efforts to hide the truth of the president s abuse of power from the American People will be regarded as further evidence of obstruction. Mr. President , you are not above the law. You will be held accountable. Meanwhile, Senate JudiciaryCommittee ChairmanLindsey Graham wants Rudy Giuliani to testify in open session. When asked if he would appear, giuliani had this to say. Does it look like i would be shy to point out that bidens family, 40 years worth of corruption. I take that as a yes. I think i know something more about this area, a little more than they do. Reporter the be president s legal team got a new member yesterday, trey gowdy well versed in capitol hill investigations but will be the thing to watch is on friday, the former u. S. Ambassador to ukraine was expected to testify, scheduled on friday to appear, but its unclear whether or not the administration will try to block her now. Cheryl griff, thank you. Well, lets talk about whats going on in the middle east. Turkey could invade syria at any moment. A top turkish official says the countrys military will, quote, shortly cross into Northern Syria after a surprise withdrawal of u. S. Troops from that region. Lauren jackie obonez has the latest for us. Good morning, jackie. Good morning. Turkish officials announced the offensive overnight. Heavy machinery and bus carrying military personnel lining up at the border of turkey and syria. The military is expected to invade at any moment. Ththey say the Kurdish People cn defect or they will have to stop them from disrupting our counter isis efforts. Moments ago, kurdish leadership called troops to move toward the border and resist the imminent invasion. The announcement putting pressure on the Trump Administration days after announcing u. S. Troops would be removed from the region several lawmakers are growing concerned over the possible genocide of our kurdish allies. Militants have launched several suicide attacks already. Several lawmakers are calling on nato to help avoid a humanitarian disaster. I think nato needs to step up and we need to do our part in congress. If weve got to put sanctions on them, whatever we need to do right now at this moment to deter turkey from continuing down this path that is destabilizing in the region. Reporter the president threatened sanctions if the company follows through with its plans. Back to you. Lauren thank you. Take a look at this, Johnson Johnson shares are down sharply in the premarket, after a jury ordered the company pay 8 billion in damages to a man over an antipsychotic drug. The man said his use of risperdol as a child caused large breasts and the company failed time properly warn of that failed to improperly warn of that risk. This is the latest in a series of legal setbacks for Johnson Johnson in a slew of lawsuits alleging injuries from products, including the companys baby powder. Cheryl well, big news here in new york. The United Nations is facing a big cash shortage. Lauren no surprise here. Tracee carrasco with the details, good morning, tracee. Tracee good morning. The International Body is facing the worst financial crisis in nearly 1 o 10 years, according a spokesperson for the u. N. Secretary general. The organization saying unless actions are taken, operations could take a hit he globally including reduced travel and the ability to pay staffers. Major power outage but this time on purpose. Pg e shutting off power to 800,000 california homes and businesses or about 2. 4 Million People, as a way to prevent wildfires. This is in the aftermath of last years California Camp fire that killed 86 people, a disaster caused by one of the companys faulty transmission lines. Taking on student debt, Financial ServicesCompany Fidelity announcing its cutting fees on College Savings plans as more and more americans struggle with paying off student loans. The price cuts are expected to save investors more than 4 million each year. And it looks like jeffrey the giraffe will be coming back this holiday season. True kids brands is teaming up with its rye l val, target rival, target, to relaunch toysrus. Com. Toysrus. Com. And that is whats happening now. Cheryl i saw a new tar he get opening target hoping up in my manhattan neighborhood. Very exciting. Lauren i know of a toys r us reopening in my neighborhood in new jersey. So a lot happening. Cheryl there you go. Tracee, thank you so much. Lauren take a look at how your money is moving this morning. Investors seem to hope for an accomodative fed. Dow futures are surging 190 points, overshadowing a souring of relations with china ahead of tomorrows talks. And the growing rift with china deepening as beijing hits back at washington over restricting visas and tensions over support for hong kong protesters sending those tensions soaring after the nba, will more american businesses bow down to beijing . And jesus is styed have walked on water and now you can follow in his foot steps. Why it will cost a pretty penny to do so. The average price of gas, 2. 65 for a gallon of regular, the highest price in the u. S. , california, 4. 19 a gal don and President Trump gallon and President Trump not happy about that, tweeting this, gasoline prices in the state of call california are higher than anywhere else in the nation, i guess the expensive and unsafe cars they are mandating just arent doing the trick. Dont worry, california, relief is on the way. The state doesnt get it. Keep it here on fbn a. M. 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 works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. for farmers here, this is our lifes work. But when a recall happens, perfectly good food goes to waste. Now, weve got away around that. Looks good. Were on target. Blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf. Its used by some of the biggest retailers everywhere. A nice wedge. So more food ends up on your table, is that daddys lettuce . Yeah. And less food goes to waste. And less food goes to waste. Announcer fidelity is redefining value with zero account fees for brokerage accounts. And zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero lauren the trade talks between the u. S. And china became more complicated when the Trump Administration expanded its list of black listed chinese firms because of alleged human rights violations. That will make todays sitdown with negotiators pretty uncomfortable. Riley walters is here. How do you negotiate when tensions are this high . I think were in the sticker shock of things. Certainly, the announcement was a surprise. I dont think negotiators, both the u. S. Or chinese negotiators were really expecting this or were looking forward to negotiating within this context but weve had these instanceses before. I dont think its going to throw negotiations off in the long term. It will sour talks this week but eventually theyll come back to negotiating table and i think these things will continue to progress as weve seen over the last couple years. Lauren im so curious what can come out of any type of discussion when were black listing Chinese Companies and now this morning china is vowing retaliation for the u. S. Visa ban on some chinese officials. Theyre threatening to do the same. Chinas always reciprocated, whether its with tariffs, as weve seen over the last two years, or right now with the visa reciprocation. Theres a bit of a difference here. I think at least for the united states, we have a moral obligation here to punish china and the way that they abuse the minorities within china, and so the u. S. Is responding to that. And so its honestly long overdue. It should be done outside of the context of the trade negotiations. We should be punishing china for human rights violations, whether theres a trade deal or not. Lauren we might have to get used to a world where we might never get a trade deal. Riley walters, thank you very much. Cheryl investors are looking for a trade deal in the souring relations between china and the u. S. Have really hit financial markets. Federal reserve said it will increase the purchases of shortterm treasury securities. For more on this, lets bring in dominic from diversified private wealth advisors. He said we had to go after china for human rights violations. For companies and businesses trying to do business in china, this is hurting them and its going to get worse for boeing, caterpillar, et cetera. Yesterday, a couple days before the negotiations are going to restart, basically the administration punched them twice in the face. This is not how you start a negotiation. They had gotten to a limb peace offering, delay of tariffs, but cheryl the markets, dominic, this has caused nothing but volatility and heartburn for not just the investment banks and traders on the desks in new york city but for average people looking at their portfolios. Companies like caterpillar, boeing, these are significant events and clearly the markets are reacting appropriately. If we go into a global recession, global earnings, Company Earnings are going to be significantly affected. So yesterdays pullback was just that. Hey, weve got to Pay Attention to whats going on here. Cheryl im glad you brought up earnings. As were coming into the Third Quarter reporting season, estimates are we are going to see down numbers year over year and were going to that china story is going to hit a lot of outu. S. Companies. We came in thinking the Third Quarter we would earn 34 on th s p,s its been brought dn about 10 lower. We may get pleasant surprises. The markets are always looking forward. If we get into a real, nasty, significant trade challenge with china, earnings could go significantly down, the markets could go significantly down. Cheryl i think were braceing for that. Were going to go backwards now. It will be interesting to see the dialogue, the back and forth. We werent talking about an october cut. Now youve got an 80 plus percent chance you are going of to get an october cut. The he meeting, two weeks from you now. Thats the difference between a year ago to the day, look at where the s p was then, look where it is today, almost a direct line. The fed wag talking about increasing Interest Rates not only in december but three times in 2019. The fed switched gears, 180 degrees. Theyre supportive of the economy. Thats a positive. Trade is still almost exactly where we were a year ago, a negligence. Cheryl well hear from jay powell today, well get a jobs report, the minutes. So futures are up. Well see how we do. Economy is solid footing, keep our fingers crossed. Cheryl over to you, lauren. Lauren the white house refuses to cooperate with the impeachment