The astros in game seven. Were going live to houston for the world series series epic v. It is thursday, october 31st. Happy halloween, everybody. Fbn a. M. Starts right now. We are the champions, my friends. And well keep on fighting till the end. We are th the champions. Lauren they are the champions, celebrating in the Nations Capital this morning. Welcome to the show, fbn a. M. Im lauren simonetti. Cheryl what a world series. Were going to tal talk about it later on in the show. Good morning. Im cheryl casone. Lauren we might see new records, more records today, apple stock trading up 2 andahalf percent in the premarket, the dow twothirds percent from a record closing level, up 27 right now, nasdaq jumping 17. Cheryl in china factory output slowing again as theyre feeling the pressure of the u. S. China trade war dragging down. Investors reacting to the fed decision, the fed cutting Interest Rates by a quarter point. The nikkei, the hang seng and coughs bkospi are all higher ths morning. Lauren lets take a look at european stocks. Were waiting for the gdp report on eurozone. Fractional gains for the french and the german markets. Cheryl our top story this morning, twitter shocking the social media world, Ceo Jack Dorsey tweeted that starting november 22nd his company will ban political ads worldwide, just minutes before his rival, facebook, who has been under intense pressure to address that same problem was set to post its quarterly results. Lauren did Mark Zuckerberg take the bait. Will Facebook Follow suit . Aishah hasnie is live for us this morning with the details. Reporter it doesnt seem like hes going to. So twitters ceo, jack dorsey, tweeted about this yesterday, explaining it all on of course twitter, saying this is not about freedom of speech, rather its about paying for reach. Heres the statement. He says a political message paying for reach removes the decision, forcing highly optimized and targeted political messages on people, we believe this decision should not be compromised by money. President Trumps Campaign calling this a very dumb decision and questioning twitters motives here. A Campaign Spokesperson said this. Will twitter also be stopping ads from biased liberal Media Outlets who will run unchecked as they buy obvious political content meant to attack republicans. This is yet another attempt to silence conservatives. Since twitter knows President Trump has the most sophisticated Online Program ever known. Joe biden and his camp put out a different sort of statement. They were actually for the move and had they said this. We appreciate that twitter recognizes that they should not permit disproven smears like those from the Trump Campaign to appear in advertisements on their platform. Now the pressure as you saids is building on facebook. In his announcement, dorsey seemed to throw some shade at facebooks ceo, Mark Zuckerberg, who just last week was grilled on capitol hill where he not only defended his social Networks Decision to allow political advertising but also to even allow ads that make false claims. Zuckerberg, though, pushing back on twitters ban, saying i dont think its right for private companies to censor politicians or the news, instead, i believe the better approach is to work to increase transparency. Twitters ban goes into effect november 22nd. Cheryl thats a revenue stream that a lot of folks on wall street are looking at. Youre taking away revenue from the company. Thank you. Great report. Appreciate you joining us this morning. Lauren its a a really small amount, though, very small amount of the revenue comes from political ads. Cheryl thank you so much. MargMark Zuckerberg also defendg his companys policy on political ads, saying that its not all about money. Zuckerberg said, quote, the controversy this creates far outweighs the very small percentage of our business that these political ads make up. Facebook has been in the spotlight for not pulling political ads that make false claims. Lauren for the midterm elections, the revenue that twitter took in from political ads is 3 million. The decision doesnt seem to be weighing down the stock for these reasons. Its actually up right now the premarket and earnings easily topped expectations. Stock up 5. 2 . They reported that revenue jumped 29 from a year ago to 17 billion. Now, despite the solid results, Mark Zuckerberg warns that 2020 will be a tough year politically as the Company Faces several antitrust violations. Cheryl slowing iphone sales couldnt stop apples earnings as the company of posted a record 64 billion in revenue. The. Lauren susan lee has details. Reporter iphone sales are better than expected, helping them in the previous three months and going forward, and in the allimportant holiday period. Tim cook said hes bullish heading into the Holiday Season and the iphone 11 models have been received very well. He says the u. S. Economy in his view is very strong and hes optimistic on the u. S. Consumer, given that we did see of course an Interest Rate cut from the federal reserve. As for china, which has been the laggard and the Akil Achilles hl for apple this year, tim cook said trade tensions have gone don and he is optimistic that tariffs will be resolved and hes optimistic that the phase one trade deal will be signed next month. He doesnt know if december 15th tariffs will be realed back. We know iphones and ipadses may be subject to 15 tariffs starting then but he says he has no idea whether or not they will go forward. Now, as for services, a bumpup of 18 , wearables seeing gaining of 50 and he saw a record quarter when it comes to cloud, care and music. Apple is in a transition period where were looking at a saturated iphone market and a theyre transitioning to services instead. Apple tv plus kicking off on friday, november 1st and tim cook says hes very excited. The apple pay card, very well received. He said it was the most successful credit card launch ever by the number of subscribe rers at least and he says you bet, im looking at International Markets as well. As for cryptocurrency, i asked him since facebook is launching a cryptocurrency and i said what about apple. He said there are some things the government should oversee, and that includes currency and the military. Back to you. Cheryl another heated bay on capitol hill for dennis muilenburg. He faced harsh questions following two deadly crashes of the 737 max. One congressman took muilenburg to task over his 30 million a year salary. You said youre accountable. What is accountability mean p . Are you taking a cut in pay . Are you working for free from now on until you can cure the problem. These peoples relatives are not coming back. Your salary is still on. Is anybody taking a cut or working for free to try to rectify the problem. My congressman will conduct a comprehensive review. Cheryl lawmakers revealed documents during the hearing that showed boeing employees were concerned about pressure to increase production and the reliance on a single censor that would sensor that would trigger the mcast. Lauren trade talks with china hitting another bump in the road after the summit where they were supposed to sign phase one of the trade deal was canceled. The apac summit scheduled to take place in chile canceled as that country tries to restore law and order domestically after violent protests, all this as china signaled it may want to back out of a pledge to spend between 40 and 50 billion on u. S. Agricultural products and would rather buy based on market conditions. Now, both beijing and washington have said they look forward to finalizing phase one of the trade deal soon. Cheryl the riff between china and the United States is not going to keep taylor swift from her fans in china. The pop star plans to perform in shanghai next month. Shes promoting her latest album, lover. The album is a chart topper in china with over 1 million copies sold. Her performance is part of alibabas count down to singles day, thats their big sales day, its global. This also is happening amid the dispute between beijing with the nba over a general managers tweet in support of pro democracy protesters in hong kong. Lauren washington, d. C. Is the district of champions. Here they are, one strike away, one out away. 32. There it is the Washington Nationals are world champions for the first time in franchise history. Lauren the nationals upsetting the Houston Astros in game seven, giving dc its first world series title since 1924. It was suspenseful, will be remembered as the first ever in which the visiting team won all seven games in the world series. I want to celebrate with my boys because we are the world champions [ cheering and applause ] lauren nationals star Steven Strasberg was named mvp. Cheryl what an incredible game. They really pulled out Something Else last night. Big news this morning, Fiat Chrysler will be merging with the owner of peugeot. Tracee the deal creates one of the Worlds Largest automakers by volume with a market value of 48 billion. Fiat chrysler and peugeot owner will each own p 50 of the new entity with Fiat Chrysler chairman Joh John Elkin taking e role as chairman. This comes five months after a failed merger attempt with renault. They are next in line after the union reached a tentative deal with ford. Union Officials Say the new contract secures 6 billion in factory investments and creates or retains more than 8500 jobs. The proposed agreement comes a week after a 40day strike with general motors. Chicago teachers continuing to strike this morning he despite a tentative agreement with helsink chicago c schools. They are demanding they add days at the end of the school year to make up for days they were on strike. The pentagon releasing video showing the u. S. Led raid that killed isis leader abu bakr albaghdadi. The footage showing american troops closing in on the compound in syria before u. S. Air forces zero in on isis fighters blowing them away. An air strike completely destroyed the com compound, burg it to the ground and the military dog, wounded in the raid, is headed to the white house. President trump tweeting the k9 is expected to be in washington sometime next week. And that is whats happening now. Cheryl our true hero. There he is. Thank you so much. Lauren lets take a look at your money this morning. Weve got modest actually the market has just turned lower. We had modest gains a few minutes ago a, now the dow is down 53 points, s p down 7, nasdaq down 8 andahalf this morning. L coming up, apple says its future lies beyond the iphone and with its longawaited streaming service set to launch tomorrow, will its services and wearables like the watch and a air pods be the apple of cons he consumers eyes this Holiday Season. Americans spending half a billion r dollars on dressing up their pets. Who spends more dog owners or cat owners . And whats this years hottest pet costume . Well have a furry expert to show it off. Keep it here on fbn a. M. Psycho killer,. Betterrer run, ru better rn with value like this, there are zero reasons to invest anywhere else. Fidelity. There are zero reasons to invest anywhere else. Problems. Nobody likes problems. But why is that . At ibm, problems actually inspire us, to fix things, to change things, to push the world forward. Which is why so many people who dare to take on problems work with ibm. Which is why so many people beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Lauren this is why the market has taken a turn. The dow is down by 63 points, s p down 8, nasdaq down 11. Bloomburgs is reporting that china is casting doubt object a longterm trade deal with the u. S. China blaming trumps, quote, impulsive nature and their ability to see this through. We also have reports this morning that trade representatives on both sides will have a phone call tomorrow. Of course, we were expecting china and the u. S. To sign phase one of the trade deal next month in chile at the apac summit will chile is no longer hosting. Lets bring in nancy davis to discuss. The market very atune to china, we had the apple and facebook news, the stocks booming today, up big in the premarket. You have the fed cutting rates. Yet, look, china moves the market. The macro is really leading the market. Youve had a lot of Good Companies with positive earnings, beating expectations, but the real risk is whats happening on the geopolitical front. I think a lot of people are very focused on the trade deal with china. Its also interesting to look at the trade deal with other countries and as we p come closerrer to the u. S. Election, would europe be the start of the next trade war . Lauren right. And then usmca is still not signed. There are certainly issues out there. As were moving through earnings season and we do have this trade war with beijing, is it interesting to you or curious to you that more companies arent mentioning that it is hurting them . Yeah, i definitely think a lot of companies are sort of hoping for a resolution and sort of expecting the best. But at the same time, you have to think if we had a trade war, what would it mean for the u. S. Consumer. And the u. S. Economy is really driven by the consumer. It could mean actually bad inflation, right, because higher prices in the form of tariffs mean higher prices. That could be a takin a stagflay environment. Lauren we got our gdp print that in the Third Quarter the consumer is spending, gdp stronger than expected. The fed cuts rates but jay powell kind of hints pause going forward. I was looking at the december chances of a rate hike. Theyre only at 18 . How come yesterday that did not scare the market that we still came so close to record highs for some of the indices. I think this is a hell reay interesting point. I think powell is talking about Inflation Expectations. And a i think thats going to bees whats driving Monetary Policy which is if you think about what Inflation Expectations are, it is the yield curve and the reason the yield curve is so flat is because of operation twist that happened in 2011 when Interest Rates were so low they couldnt cut anymore. Lauren nancy davis, thank you so much. Cheryl, over to you. Cheryl as we brought you breaking news, were watching futures, dow down 76 in the premarket, were going to stay on that news. Also happening today, the house is going to be holding its longawaited vote on impeachment. So what happens next . Were going to go live to washington where both sides are arguing over every detail. And star wars fans get excited. You never heard of the millennium falcon. Its the ship that made the run in less than 12 seconds. Cheryl you may not be able to fly that ship and it may not take you to a galaxy far, far away but United Airlines may have the next best thing. We have he details coming up on fbn a. M. Take a trip on the future. Ill make you fall in love. Ityo cant be broke eb bron granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Strongve is one of a kind brilliant unbreakable Engagement Rings now 20 40 percent off shop unique bridal styles at zales, the Diamond Store thbecause with nband after thleague pass on xfinityr. You can watch the out of market games you want all season long. And with the allnew xfinity sports zone, you get everything nba all in one place even notifications about your favorite teams. Watch the dropped dimes, monster blocks, and showstopping dunks. Plus get instant access to your teams with the power of your voice. Thats simple, easy, awesome. Say Nba League Pass into your voice remote to upgrade for a great low price or go online today. Lauren its an Early Morning after a late night in washington. Lets a take a live look on capitol hill. We are hours away from when the full house is expected of to vote on a resolution outlining the rules of the democrats impeachment inquiry. Lets bring in griff jenkins, live in the nations capitol. Theyre battling over everything. What gives, where do we go from here . Reporter this is the first time foreign aa fair team members will go on the record. Expect a fiery debate this morning. Midmorning, history will recorded. Its important to note, this is not a vote on articles of impeachment but rather on the resolution to codify the impeachment process. No republican is expected to vote for it. Only five republicans have yet to declare their support. The resolution needs 217 to pass. The rules Committee Chairman had this to say. Five or 10 years from now people will ask each o of what e did in this moment, what we did when won fronted with this crisis. As much as this president flaunts the constitution, we are going to protect it. Reporter hearings on the hill continue today. Tim morrison will testify and theres news that the former National Security advisor, john bolton, has been summoned, boltons attorney, charles cooper, telling fox news bolton is not ready to appear. This as a top House Repu