nicole: japanese investors follow wall street, the nikkei down 1/2% and the shanghai composite index ending one third of 1%. day 2 of the big tech ipo, snapchat parents snap 40% in the first day of trading. we will ask how it went and the help for snap investors. >> amazon solve the mystery. a typo took down its cloud service and a big chunk of the internet. a shop at costco prepares to pay up, hiking the cost of membership and in sports chicago bulls top golden state, and in golf, phil mickelson shares the lead in the first round of the mexico open. we have the highlights for you. warner: welcome to fbn a.m.. welcome. attorney general jeff sessions saying his meeting with the russian ambassador to the us has been hyped beyond reason. the attorney general on tucker carlson tonight. >> i don't recall any discussion of the campaign in any significant way. it was in no way a coordinating of an effort, doing anything improper, i don't believe anybody that was in that meeting would have seen or believed i said one thing that was improper or unwise. >> peter barnes in washington with more. >> reporter: jeff sessions problem is during the confirmation hearing in january when asked if anyone in the trump campaign had any communications with the russians during the campaign he said, quote, i did not have communications with the russians but we know while he was a top trump campaign advisor he spoke to the russian ambassador to the us twice. that has many democrats calling for him to resign saying he lied to congress under oath. as a result of the controversy, in a press conference thursday sessions announced he will recuse himself from any involvement in any justice department investigation related to the trump campaign, but previously said he would only recuse himself if he personally were the subject of an investigation and he said when he testified his answer was honest and correct as he understood the question as it related to the trump presidential campaign and not his role as a senator and senators meet with diplomats all the time so he said yesterday he did not testify falsely. >> let me be clear. i never had a meeting with russian operatives or russian intermediaries about the trump campaign, the ideas that i was caught in a, quote, continue exchange of information during the campaign between trump surrogates and intermediaries for the russian government is totally false. that is the question senator franken asked me. >> earlier the president said he has total confidence in the sessions, adding he did not think sessions should recuse himself, he said he was not aware sessions's meetings with the ambassador and he thought sessions did testify truthfully at his confirmation hearing. before the president spoke senate democratic leader chuck schumer called for sessions to resign but in a statement last night he said sessions should have reduced himself earlier and said the justice department should now appoint an independent special prosecutor to look into any trump campaign ties to russia. >> trump issued a statement last night saying in part, quote, this whole narrative is a way of saving face for democrats losing an election everyone thought they were supposed to win. the democrats are overplaying their hand. the president also said, quote, it is a total witchhunt. >> donald trump is reiterating his pledge for a boost in military spending. the president spoke to sailors and shipbuilders on a new aircraft carrier named for gerald ford. >> after years of endless budget cuts that have impaired our defenses i am calling for one of the largest defense spending increases in history. and by eliminating the sequester and uncertainty it creates we will make it easier for the navy to plan for the future and thus to control costs and get the best deals for the taxpayer. >> the president's cup coming budget and expect a call for $54 billion increase to military spending, today he scheduled to visit a catholic school in orlando for listening session on school choice. >> federal prosecutors arresting 13 gang members who allegedly killed three teens on new york's long island, 10 of them have been in the us illegally. the suspects are members of the notorious ms 13 street gang, two of the victims, 15 and 16-year-old girls were killed after being attacked by a machete and baseball bat lose the other victims were a gang member and killed for violating gang rules. >> facing life in prison without the possibility of parole. violence is a trademark of the gang, the murders of these three teens are particularly disturbing. >> one of the arrested gang members was previously deported. snap soaring 44% in stock market but. the parent company of snapchat is worth $34 billion. cheryl casone he is in snap's hometown of venice beach with the details. >> reporter: what a day at snapchat the multibillion-dollar day, the ipo pricing at $17 a share opening at 24 and it was only up, up and away from there the company gaining 40% in the trading day. what is next for the company? its founders are multibillionaire's. evan spiegel is worth $4.49 billion and that is a rough estimate. we have bobby murphy, 28-year-old, cofounder were $3.6 billion, this is the third-largest technology ipo in history behind ali baba and facebook. that is where the comparisons end. facebook when they started trading and close their first day was a bit of a stumble only gaining 0.61% for the day. twitter that first day of trading they had the stock gained 72% and twitter the company has struggled. what is next? they call themselves a camera company, snapchat says they want to get into the drone business and transformed the company into more than just an apps you send pictures and videos to your friends. the question for this ipo is for investors overall, this ipo good for main street or wall street? both or neither? we will see where the stock goes. back to you. >> investors will be focusing on a new speech from the fed chair janet yellen. she is expected to join the chorus of other fed officials saying an interest rate hike is on the table, the next policy meeting is in less than two weeks. other fed officials have suggested the central bank is close to its mandate for full employment and 2% inflation signaling a march rate hike is in the cards. the latest numbers from the cme just recently in the 30% range, now it is a 77.5% likelihood that we will get a rate hike in march. warn: global market action overnight, the shanghai composite lower by 0.3%, the nikkei down by 1/2%, hang seng of hong kong down by 3 quarters of 1% and the cosby in south korea down 1.1%. south korean shares dropped to a two week low on earlier reports the china has ordered operators to stop selling tours to that country. nicole: let's see how europe is faring. all down arrows, right now we see the london footsie down a third of 1%, a lot of talk about teresa may under fire and also about another reform as well. let's take a look at the cac quarante, that is down a 12:45% and the german dax down 1/2%. taking a look at us stock market futures we are seeing on the board this morning dow futures lower by 49 points, is in the lower by 7, nasdaq lower by 15, the biggest drag on the dow was caterpillar, its shares came down 4.3% following news that federal officials had searched its facilities. >> looking at the key commodities, a little turnaround because oil is up $.13, had been down three sessions and ines sessions down 6%, gold pulling back, down $5 at $12.27 a troy ounce. >> shares of caterpillar took a hit after federal authorities rated some of the company's offices. caterpillar cell 4% after the rate in peoria, illinois, and two nearby facilities. the company said it is cooperating with investigators in attacks investigation with billions of dollars at stake. caterpillar issued a statement saying it believes the search focused at least in part on exports involving a swiss subsidiary. the company's annual report disclosed the securities and exchange commission had become an informal investigation. warner: amazons is a huge outage tuesday was caused by a typo. the others affected tens of thousands of websites using amazon to the cloud computing service amazons is one of its team members executed a command that was meant to take a few of the servers off-line. that caused a larger number of servers to be taken off-line than amazon intended. the four hour outage caused disruption slowdowns, failure to load errors across the united states. >> the push of a button. what a wild week for the market, stocks fell after posting their biggest gains of the year the day before. what is the future of the markets and the biggest tech ipo in years. >> we will just have to see how this plays up, trying to label themselves as a camel company. a lot of people view them as more of a messaging company. there is an issue with the lack of voting rights for shareholders. >> new york stock exchange floor trader keith bullets will join us with his outlook and here's a look at us stock market futures, dow futures lower by 50, is in the lower by 7, nasdaq lower by 15, you are watching "mornings," your first look at morning markets and breaking news. ♪ ♪ the sky has shared the road ♪ can't be leave she got mad ♪ the sky has shared the road ♪ >> it is 5:15 a.m.. jeff sessions is saying his meeting with the russian ambassador to the us has been hyped beyond reason. sessions agreed to recuse himself of investigation into the russian influence on the presidential election, telling tucker carlson last night that recusal is not admission of wrongdoing. president trump continues his call for an increase in defense spending. speaking on the uss gerald ford, trump urged rebuilding the military. costco at 35 million members shopping more at the discount store. costco says as of june 1st the price of membership will increase by $5 and announce disappointing quarterly earnings results. let's look at us stock market futures ahead of "the opening bell," dow futures lower by 45, s&p falling back 6, nasdaq falling back 13 and that is what is happening now. warner: the dow thinking after wednesday's record-breaking day of gains and we also have the biggest tech ipo of the year. let's talk about what is ahead for the crazy market and snap. joining us, senior vice president on the floor every day trading stocks and that is where snap went public yesterday. 44% pop. now what? >> that is the big question. there are a lot of problems investors had, what is the nonvoting rights of the shares, the business model going forward, where they make money and advertise to a demographic that doesn't have a lot of money but listen. it was a hot ipo, a tech ipo, well-received in the market and on the floor of the exchange and the question becomes can the company turn a profit in 2017? they estimate they will have $1 billion in revenue, quite a leap from where they are now and these are questions of the company by and large. it was a good ipo and opening day. >> the market in general for now, the dow the 15% since election day with the drop yesterday and a lot of optimism priced into the market. >> the market neutral, a lot of people say it is overbought, and a lot of indicators suggest when i look at the numbers and charts and technical formations. there is optimism about the policies, and other warning signs are stepping in. >> that brings us to the fed. we are hearing from janet yellen. it has surged to 77.5% from the cme and we will see the rate hike. your thoughts? >> we will get a rate hike from march. >> going to get a rate hike? >> the fed has been good telegraphing their policy and we have to be leave them for what they say, they have been clear on that. we have five fed officials capping off with janet yellen. we expect a rate hike in march. >> rate hikes are bad for stocks. we expect that -- >> and the economy is healthy. and that is what we have seen in the last 10 years. a stronger economy and stocks. >> so much controversy, the regulation will come and soon enough, the rollback and regulation and other things are going well for financial like a rate hike. >> i would keep buying the financials. they pulled back because they got very extended and you are absolutely right, the yield curve play, the growth play and regulation play and that is a trifecta of really good news. >> keith bullets, and on the stock exchange every day, thanks. warner: gamers line up for the new nintendo switch, the game w. >> had 36 hours of no sleep. >> this would exceed the ideals of anybody. >> chicago bulls stopped golden state for the first time since kevin durand injured his leg was phil mickelson share the lead in the first round. we have the highlights. let's look at stock futures, dow futures lower by 35, s&p by 6, nasdaq by 13. you are watching "fbn a.m.," your first look at morning markets and breaking news. ♪ just go on ♪ i need you ♪ just go on ♪ i need you ♪ just go ahead ♪ >> do you play video games? after the prerelease both, the nintendo switch begins today. one of the big attraction to two gadgets in run, a console that can be used with your tv and be detached and used on the go but there won't be a ton of games, 10 titles are being released with the switch today. it sells for $299. the company hopes the switch does better than the we you, that was released five years ago and it was the worst telling nintendo console ever. warner: the latest from the world of sports, golden state warriors founding life without kevin durand is not easy. the first game since he is at his leg, 94-87 last night. clay thompson had 13 but the two hit just three of the combined 3-pointers, golden state's regular-season streak of 146 games without losses but the warriors got good news. the rent is expected to return to play this season. he can swing a golf club. phil mickelson shares the lead in the first wtc mickelson championship, he shot a 67 it is joined by lee westwood, jamie walker, rob fisher, john romm and brian more. the shot of the day belonged to justin thomas for a 30, 100 yards away. there it is in the way. thomas hit a low shot that pitched and hopped onto the green. and colin her neck --kaepenick won't make headlines, he will stand during the national anthem from now on. he protested social inequality by not standing for the star-spangled banner. he says he will stand from now on because he made his point. he will opt out of contract with san francisco 49ers and become a free agent next week. if he hadn't opted out he would have been released. they made their point too. coming up an exclusive interview, and democratic contracts. >> it was in no way a coordinated effort doing anything improper. >> twitter stock raises on its first day as well. what is the future for snap? we will take a closer look. you are watching "fbn a.m.," your first look at morning markets for breaking news. lauren: breaking news. in an exclusive interview with tucker carlson, us attorney general jeff sessions says democratic attacks on his meeting with a russian envoy have been, quote, hyped beyond reason. we have the latest on that situation. leah:i am leah gabriel. after posting the biggest gain of the year the dow pulled back 100 points, the focus from janet yellen is a march rate hike on the table? a look at stock market futures, dow futures lower by 44, s&p by 6, nasdaq by 12. >> japanese investors follow wall street, many gay down 1/2% ahead of the weekend, the shanghai composite index down one third of 1%. day 2 for the big tech ipo, snapchat jumping 40% on the first day of trading. we will ask a floor trader how it went and the future for snap investors. >> amazon solve the mystery. a typo took down the cloud service and a big chunk of the internet. >> after posting disappointing profits costco hiking the cost of its membership. and sports the chicago bulls top golden state for the warriors first game since kevin durand ended his leg. phil mickelson shares the lead in first round of the mexico open. we have the highlights for you. it is 5:31 on march 3rd and welcome to "fbn a.m.," your first look at the market and latest breaking news and let's start with breaking news, jeff sessions saying his meeting with the russian ambassador to the us last year has been hyped beyond reason. the attorney general on fox news's tucker carlson tonight. >> i don't recall any discussion of the campaign in any significant way. it was in no way a coordinated effort doing anything improper and i don't believe anybody who was in that meeting could have seen or believed i said one thing that was improper or unwise. >> this as many democrats call for him to resign saying he lied to congress under oath. during his confirmation in january when asked whether anyone in the trump campaign had any communication with the russians during the campaign he said, quote, i did not have communications with the russians. he did not testify falsely because he did not discuss the presidential campaign with the ambassador. president trump issued a statement saying in part, quote, this whole narrative is a way of saving face for democrat losing an election everyone thought they were supposed to win. democrats are overplaying their hand. the president also said, quote, it is a total witchhunts. shifting gears donald trump is reiterating his pledge for significant boost in military spending. blake berman is at the white house with the latest. >> and expanded military thursday aboard the uss gerald ford making a stop in southeastern virginia highlighting the new navy carrier is what the military should look like. he called for an end to the sequester. >> by laminating the sequester and uncertainty it creates we make it easier for the navy to plan for the future and to control costs and get the best deals for the taxpayer which of course is very important. >> calling for a $54 billion increase to defense spending. the top democrat in the house questioned why the president wants to add to the military while domestic programs could feel the front of cut. >> if he increase his defense this way. >> before budget was expected in may. back to you in new york. >> the president is scheduled to visit a catholic school in orlando for a listening session on school choice. russian fighter jets buzzing in american naval ship in the black sea. releasing this video showing the incident last month when four russian planes to close to the uss porter. the us destroyer attempted to contract the aircraft but received no response lose the resin defense ministry claiming no such incident occurred. >> federal prosecutors arresting 13 gang members who kill three teens on long island, 10 in the us illegally. two of the victims, 15, 16-year-old girls were called after being attacked by machete at baseball bats. one of the arrested gang members was previously deported. snap storing 44% in its stock market debut. the parent company of snapchat is worth $44 billion. the details. >> a multibillion-dollar day, the ipo, it was only up, up and away gaining 34%. what is next for the company these founders are multibillionaire's. $4.49 billion, a rough estimate. >> $3.8 billion, the third largest technology ipo. the comparisons end, when facebook started trading and closed their first day a bit of a stumble. twitter on the other hand the first day of trading, twitter as a company has struggled. they are calling themselves a camera company. they want to transform the company into just and apps you sent pictures and videos to your friends. the question for this ipo for investors overall is is this ipo good for main street or wall street, both or neither? back to you. >> investors focusing on the new speech for janet yellen. and interest rate hike is on the table for the next policy meeting. of the fed official suggested the central bank is close to its mandate for full employment and 2% inflation signaling a rate hike. >> 77.5% from cme. yesterday, the markets around the globe taking the q. the nikkei is down 1/2%, the shanghai composite index losing one third of 1% and the nikkei had been nearly a two month high. >> let's look at stocks in europe. in germany, falling back 45. >> let's check stock market futures and how they are faring, dow futures down 46, s&p down 6, nasdaq down 13, dow and s&p did just going off of recent ose highs. >> key commodities, a look at oil higher by $.12, $52.70 a barrel, gold is lower by $3.90 at 1229 of troy ounce. shares of caterpillar took a hit yesterday after federal authorities rated the company's offices, caterpillar shares 4%, in peoria, illinois and two nearby facilities was the company says it is cooperating with investigators in what is described as a tax investigation with billions of dollars at stake. caterpillar issued a statement that it believes the search focused at least in part on exports filing on a swiss subsidiary. the 2014 annual report disclosed security and exchange commission has begun an informal investigation of the swiss subsidiary. >> amazon to the huge outage on its cloud computer service was caused by a typo. it affected thousands of websites using the aws cloud computing service. amazon said one of the team member that secured a command meant to take a few servers off-line but the command had a typo and that cause a larger number of servers to be taken off-line that amazon intended. the four hour outage caused disruptions, slowdowns and failure to load errors across the united states. >> they broke the internet with a typo. amazing what amazon is capable of. it cost you more to shop at costco, the price of membership will increase on june 1st. costco says it's goldstar and business memberships will rise by $5 to $60. annual fees for executive membership increased to $120 from 110. costco announced the membership hikes at the same time it reported disappointing earnings results. shares more than 4% after hours but are up 19%. >> spotify adds members, the streaming music service has 50 million paying users up from 40 million premium subscribers in september 2016. spotify charge of my dollars $.99 for the play but offers more limited free option adds. apple music which is spotify's competition reached a high mark in september, it is available in 60 markets. >> is a look at the headlines in today's edition of the wall street journal. was aubrey mcclendon a billionaire? a year after the oil magnet died in a car crash lawyers in oklahoma city are sifting through the tangle of debts and assets he left behind trying to determine if he died a wealthy man or swapped by debt? a race to take on huber as the robot trucking division, several startups are showing off their own efforts toward a self driving delivery vehicle that would reinvent the business. do you need a cow for milk? a debate turns over the definition of dairy. dairy farmers are lobbying congress to stop the use of milk for products not made from cow's milk, makers of the increasingly popular milk substitute are asking the fda to back a broader use of the term. >> coming up what a wild week for the stock market. the biggest gain of the year the day before, what is the future of the market in the future of the biggest tech ipo in years? >> this is a company a lot of interest in, a lot of people had high expectations for exponential growth down the road and this is an expectations play. >> nyse floor trader keith blitz will join us with his outlook. let's look at us stock market futures ahead of "the opening bell," dow futures lower by 43, s&p by 6, nasdaq lower by 13. you are watching "fbn a.m.". let's look at oil by $.17, $2.78 a barrel. stay with us, you're looking at "fbn a.m.," your first look at morning markets and breaking news. >> you made it, 5/4 -- 5:45. and has been hyped beyond reason sessions has agreed. any investigation into russian influence in the presidential election. he told tucker carlson, it is not an admission of wrongdoing. president trump continues in defense spending. and a great rebuilding of the us military. costco's 35 million members will pay more, a price of membership will increase by $5. it broke records after the presidential address pulled back. s&p futures down four. >> a crazy week for the markets. the vice president of katona company, of the stock exchange. snap went public, goldman sachs led the market rally. what about financial deregulation? that a done deal and what if it doesn't happen? >> financial deregulation just getting started with the dodd-frank bill and sarbanes-oxley. you keep your money and despite the modest pullback we had the last couple days. >> what about retail investors? >> i don't think so. we have quite a bit of runway to go. our work tells us it is neutral, neither overbought nor oversold which is the term we use in the market. there are still some plays you need to make and be selective. >> we have a couple fed speakers, janet yellen, 77.5% likelihood that we will see a right hike. the momentum has shifted, we have seen utilities leading, the jobs report was due today pushed off till next week because of the way the month of may february falls. >> >> you look at the macro data, and investors don't expect a rate hike. the two and 10 year yield in the treasury market. that signals people expect the rate hike. >> >> 44% on the first day of trading, what do you see as far as demand for stock. >> it traded 2 million shares, and it is true, a dominant share of control in the company. the stock will drift a little bit as people figure out what they will be in the future. cheryl casone he said they were not just a messaging apps but want to do so much more. snap follow the model and expanded the business. >> any up arrow is up after 44% gains. a lack of a track record of competition. lack of profits and those types of things. >> >> they have a heavy lift for 2017, doubling their revenue. we see what goes on from there. it could lead the door for interest, dropbox, air b&b to name a few. we will see an avalanche of ipos in 2017. >> thanks for joining us. keith blitz. coming up, gamers line up for the new nintendo switch boosting the shot, new gamers work at home or on the go. >> 36 hours. >> created something here. >> in sports, chicago bulls and golden state and the warriors, as kb injured his leg. phil mickelson shares the lead in the first round of the mexico open. we have all the highlights for you. you are watching "fbn a.m.," your first look at morning markets and breaking news. the future of business in new york state is already in motion. companies across the state are growing the economy, with the help of the lowest taxes in decades, a talented workforce, and world-class innovations. like in plattsburgh, where the most advanced transportation is already en route. and in corning, where the future is materializing. let us help grow your company's tomorrow - today at esd.ny.gov the full value of your totaled new car. the guy says, "you picked the wrong insurance plan." no, i picked the wrong insurance company. with new car replacement™, we'll replace the full value of your car plus depreciation. liberty mutual insurance. i'm raph. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom. don't let unanswered legal questions hold you up, because we're here, we're here, and we've got your back. legalzoom. legal help is here. >> nintendo fans, after all the pre-release buzz. met one of the game's big attractions is it is two gadgets and one. console that can be used at home with your tv and can be detached and used on the go. there won't be a ton of games initially, only 10 titles being released with the switch today. the nintendo switch fell for $299. the company hopes the switch does better than the we you that was released in 2012. it is the poor selling nintendo console ever and the line is already forming in new york city. let's take a look at the latest from the world of sports. golden state warriors finding life without kevin durant is not easy. the first game since he injured his left leg, they beat golden state 94-87. seth curry scored 27 points and clay thompson had 13, they hit three of their combined 22, 3-pointers, the defeat broke golden state aptly record regular-season streak of 146 games without losses but the warriors got good news. to rent is expected to return to play this season. lefty can still swing a golf club. phil mickelson shot 67 it is joined at the top by lee westwood, jimmy walker, ross fisher and john romm and ryan more of the mexico championship. justin thomas for a birdie, more than 100 yards from the overhanging branches in the way. thomas is shot to the green and on the cup. >> kaepernick will not make headlines for kneeling during the national and. he plans to stand during the answer from now on. he stood up to social inequality by not standing for the star-spangled banner. he will stand from now on because he made his point. he will opt out of his contract with the 49ers agent, the team says if he had not opted out they would have released him anyway. >> coming up we show you how to order pizza. you are watching "fbn a.m.," your first look at morning markets and breaking news. >> pizza hut creating a slamdunk delivery system and also march madness. blue tooth with the push of a button on the shoe's time, the sneakers have geolocation technology. only to industry leaders and media. a pair should go to you and you are influenced. >> i would love a pair because i'm a pizza fanatic. you are watching "fbn a.m.". we sent it over to "mornings with maria". maria: here is my foot, order the pizza. i am done. happy friday. i am maria bartiroma. we are happy you are here, top stories at 6:00 on the east coast. picture-perfect debut for snap, 44% in its first day of trading, market value at the end of the trading day 21/2 times that of twitter. just $25 a share. up 2%. recusing himself from any investigation, the 2016 presidential race, and meetings with a russian ambassador. >> i believe i should recuse myself because i was involved in the campaign. to a degree it would have been perceived, parti

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