sandra: breaking news, tropical bill cleared latest on the wild weather. golden state wars crushed lebron james and the cleveland cavaliers to become the nba champions. said chairman janet yellen meeting the press today to meet the u.s. economy. the three things you need to watch from the fed chair. ahead of the opening bell this morning we are seeing some green arrows down features that nearly 60 points. i'm sandra smith joined by

lauren simonetti and nicole petallides. welcome to "fbn:am," your first look at what is living in today's markets, the latest breaking news and what you expected a ahead. a war and come you are focused on the fed. lauren: absolutely, sandra appeared how many hikes will receive this year? train to nicole, you are looking at the battle with the fed. nicole: metlife taking on the government about its designation too big to fail. maria bartiromo will cover that. sandra: first is an breaking news. major floods in texas as the remnants of tropical storm bill move across the state. is it expect it the same region that was hit by the deadly floods during memorial day weekend. some parts of the state could see up to 12 inches of rain. forecasters say the system will generate intense rain and eastern half of texas and oklahoma, missouri as well as arkansas in coming days.

the golden state warriors are nba champs. they clinched the title, beating cleveland cavaliers 10521097 -- 197. andré was named series mvp. he and beth curry had 25 points each and defeated lebron james for 32 points for the cavs. federal reserve policy makers wrapping up their two-day meeting today. lauren has three things to watch. lauren: absolutely, big day, sandra. the revised forecast for the economy including gdp and interest rate predictions that money press conference bag chair janet yellen. number one, not only when interest rates will go up but by how much. in march the fence when interest rates to rise .65% by the end of the year. that could mean two rate hikes this year. not only when the first one with me, which is likely september, but after that.

number two, gallon will be pressed to set the tone for increases. watch for the more gradual in her speech. what the fed does not want to do a shock the economy and that brings us to number three. already they have been warned. the imf in the world they that they should not hikes this year. there are signs the u.s. economy is ready for a hike. they are both in check seen wage growth, job growth. sandra: stable inflation has been working against the argument to raise interest rates. they are looking for improvement in the economy and stronger growth. we can argue all day long plethora not we've seen enough. also our latest manufacturing numbers were weak. it'll be interesting whether the uncertainty of greece becomes a wildcard and if they push on any rate hike. tree into this to be a wild one indeed. so much uncertainty.

fox business for full coverage and analysis of the fed decision. this is all going to happen at 2:00 p.m. eastern time today. the decision would then be followed by a fed chair gina gallant's news conference held 30 minutes later. all right here on fox business. metlife turning up the heat. nicole has the latest on the fox business exclusive story. nicole: maria bartiromo came on last night and learned that life has challenged his designation as a systemically important financial institution. array of reporting that life is reiterating its position to a federal judge seeking to have its too big to fail status overturned. the insurer claiming financial stability oversight council acted as judge, jury and executioner making the determination offered no avenue for metlife to obtain a fair and bold hearing on the issue.

the filing follows a federal judge ruling that government went beyond its authority and demanding an equity stake while failing out aig. headed by former ceo hank greenberg. the question is that the regulation we've seen dodd-frank and the like whether it looks at the vulnerability of metlife and the financial crisis. as they overreached and that is overlooking that. if anybody missed this, we will have more this morning with "mornings with maria." thank you for that. ceo hank greenberg will appeal a judge's ruling not to reward shareholders $40 billion in damages they were seeking. the judge ruling this week the government overstepped its authority and its 2000 a lot of aig. he says zero damages were awarded because aig alternative to the government harsh tale of us to file for bankruptcy which likely would've of shareholders at nothing.

greece got crisis drags on as the top e.u. executive engages in a war of words. prime minister alexis secrest trying to humiliate greece with more cuts. european commission shankar junker reacted angrily accusing tsipras of misleading the public and he was against hiking taxes on medicine and electricity bills. the central bank would put the country on a course towards default and exiting the eurozone. let's get you caught up on the global markets this morning. asian markets seen some next action as the nikkei is lower, hang seng and singapore averages to the upside. singapore up with any full%. also as a mixed rating there. the dacs bouncing back from recent selling. small movement in the stocks will relocate u.s. futures. here at home green arrows

pointing to a higher open a few hours from now. dow futures up 58. checking in on the dollar against conferences this morning. continuing to see movement in the u.s. dollar to the upside walking into the fed meeting this afternoon at the conclusion of the meeting. also we have news that the bank of england releasing the minutes of the last policy meeting which assets and purchases were left unchanged. donald trump officially entering the 2016 presidential race. >> i will be the greatest jobs president that god ever created. [applause] i will bring back our jobs from china, from mexico, japan, so many places. i will bring back our jobs and i will bring back our money.

sandra: trump played neil young's rocking in the free world several times. the canadian rocker is not happy about that. his son was used at the event and he didn't know about it. the musician is a longtime supporter bernie sanders. trump says oprah winfrey would be a great running mate. it went for nearly an hour. by the way, do not miss "mornings with maria" this morning. maria will have an exclusive interview with eric trump, executive vice president of trump organization and donald trumps all this time at 8:30 a.m. eastern on the fox business network. he is the second son. donald is the firstborn and then eric. there were cheers, whistles, pause at the new york stock exchange when the speech ended. right after trump made his announcement. lauren: he watches fox.

it was the same if you ask me. >> republican congressman darrell isis of her newly found e-mails from lois lerner. the irs is not tandem over because it's making sure none of the e-mails are duplicates. >> what does that mean? >> it means they are lying. here is the delay here. they make it a practice to send practice to send this endless duplicates. as a matter of fact, they always want to give us the maximum number of pages to brag about how much they've given us. train to ponder not a scam on which the agency relied special tax status to certain groups. the committee said to trail ashton carter and joint chiefs of staff chairman general martin dempsey late today on the u.s. strategy in the middle east.

this comes after president obama's decision to send 450 additional troops to iraq to help train the country's security forces to fight basis. the president's action is not enough to solve the bigger problem. we will be watching for earnings from fedex and orville today. those are two big ones to watch. nicole: indeed. we are still watching names reporting. these two names are imported similar to investors pared a fourth-quarter profit of $2.68 of $12.3 billion. the economic bellwether later this morning. and the analysts to earn 86 cents per year on revenue of $10.9 billion. we will be watching for fedex and anything about fuel, e-commerce. ups said oracle has a low hurdle

to jump. lauren: as starbucks starts to test ways to deliver an amazon. sandra: that was a good little tease. it's all about what i can get and how fast i get it. coming up, seth curry and the golden state warriors beat in the broad james and the cavaliers and the championship last night. investors turned their attention to what janet yellen has to say about the state of the u.s. economy today. checking in on u.s. stock index futures this afternoon. possibly a higher open on wall street and anticipation language from the fed will indicate when the first rate hike is coming. you are watching "fbn:am," your first look at morning markets and breaking news. ♪

sandra: welcome back on this wednesday morning. let's get you caught up in global market action. asia is seen some mixed rating seen some next trading action. the nikkei down, hang seng and singapore to the upside. in europe next action as well but mostly the downside at this point in trading. over there is the cac index in france down two tenths of a percent. here at home u.s. stock index futures up across the board ahead of the big data center reserve and in this afternoon. press conference by jimmy guillen. the world will be watching. the federal government looking into allegations the cardinals tacked its databases at the houston astros. investigators tell "the new york times" that private areas were compromised including proprietary statistics and scouting reports.

this would be the first instance of corporate espionage between two sports teams. major league baseball cooperating with investigators from the fbi and justice department. last night sports action the border sportier way for an nba title is over. they have a chance after beating cleveland 105 to 97. the warrior andre was named mvp. he and seth curry scored 25 points each. cleveland cavaliers got as close as eight points before warriors told away. lebron james had 32 points but does little to help. meanwhile the stanley cup made its way to chicago's wrigley field last night. champion blackhawks were honored for her to the cubs game, throwing out the ceremonial first pitch. the windy city continues the victory parade and rally tomorrow. and in soccer, abby soccer, abby win back scores the game's only

goal for the team u.s.a. for the one did nothing when over nigeria. u.s. women have advanced to the ground in the world cup. major flood threats in texas right now as remnants of tropical storm bill move across the state. janet dean has the latest on all of that. or do you watching? >> definitely watching texas in the plains states. the next several hours around the houston area. we've seen over six inches of rain an additional 46 that will move up towards the midwestern ohio river valley. a look at the radar moving towards the northeast. try and add a couple days here by looking at the moisture streaming in from a virus over the next couple days. your weather delays looking good across the board for boston, philadelphia and new york city. we could see the possibility for minneapolis in dallas. sandra: thank you very much.

but i do three things to watch for when janet yellen holds a news conference today? we will have a unique to watch. checking u.s. stock futures. optimism is to kick off this morning. a lot to look for including earnings from oracle. you are watching "fbn:am," your first look at morning markets and breaking news. ♪ when broker chris hill stays at laquinta and fires up free wi-fi, with a network that's now up to 5 times faster than before you know what he can do? let's see if he's ready. he can swim with the sharks! book your next stay at lq.com!

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with exclusive behind the scenes footage, all of taylor swift's music videos, interviews, and more. xfinity is the destination for all things taylor swift. just because i'm away from my desk doesn't mean i'm not working. comcast business understands that. their wifi isn't just fast near the router. it's fast in the break room. fast in the conference room. fast in tom's office. fast in other tom's office. fast in the foyer [pronounced foy-yer] or is it foyer [pronounced foy-yay]? fast in the hallway. i feel like i've been here before. switch now and get the fastest wifi everywhere. comcast business. built for business. sandra: breaking news. tropical depression bill races across texas bringing heavy rain and flooding. the latest on the wild weather.

seth curry the golden state warriors crush lebron james and the cleveland cavaliers to become the chance. fed chairman janet yellen "meet the press" today to talk about the state of the u.s. economy. we will tell you three things you need to watch from the fed chair. checking u.s. stock market futures ahead of the opening bell on wall street this morning. dow, s&p and nasdaq futures in the green. i am sandra smith joined by lauren simonetti and nicole petallides. welcome to "fbn:am," your first look at today's markets in the latest breaking news and what to expect if they had. lauren, you are focused on the federal reserve as is the world. nicole: when did they think they will raise interest rates? sandra: also, you are watching the battle with the fed. sandra: that is right. maria bartiromo has an exclusive on this. pushing back on the too big to fail designation. more on that in a minute. meanwhile in texas as remnants

of tropical storm bill move across the state. expected to dump heavy rain in the same region that would take deadly threats by memorial day weekend. some parts of the state could see 12 inches of rain. forecasters say the system will generate rain and moved onto oklahoma, missouri and arkansas in coming days. a big night last night. golden state warriors are not nba champs. they clinched the title beating that cavaliers (105)205-2107 in game six of the finals. the first championship in 40 years. andre was named series mvp. he and seth curry had 25 points each to defeat the lebron james and 32 points for the cavs. we will have highlights are an exciting coming up in a minute. federal reserve policy makers wrapping up a two-day meeting this afternoon. laurent, you have three things

we need to watch because markets right now at this morning. lauren: it is unusual. sandra: maybe some expectations are changing. lauren: at all happens at 2:00 eastern. they get policy statements, revised forecast including gdp and predictions on interest rates going forward. here are the three things she needs to know. number one not only when manchester is going up by how much. they walk rates to rise to .65% by the end of the year. it's not only about when the first one will be which is likely september but also how many after that. gallen will be pressed to set the tone for the increases. continue to watch for the word rapture will pay what the fed does not want to do a shock the economy with what their decision is. number three, the reason is they have been warned by the imf and the world bank that they should not hike this year.

if you look at the economy, especially out of the winter, we see small signs things are getting better. the fed is only stuck between a rock and a hard place. what to do, how to balance a somewhat improved economy. sandra: manufacturers and numbers were weak for this week. every time you get a little bit better economic report, something else pulls us back. economic reports are an evening, the greece wildcard. ill be interested when the battle because our federal head janet yellen will be speaking at the same time as chris and the guard. sandra: that is all happening this afternoon. full analysis of the full decision and that all will happen at 2:00 p.m. eastern time followed by fed chair janet yellen's news conference 30 minute leaders. we will have a dog box business.

nicole, you're following the story. >> right at the top of the show an exclusive and she realized they will challenge the designation is historically important institution. maria purporting that life is reiterated its position seeking to have its too big to fail status overturned. the insurer claiming the financial stability oversight counsel act as judge, jury and executioner making the determination and offered no avenue to a day and a fair and full hearing on the issue. the filing follows federal judge ruling that the government went beyond its authority and demanding an equity stake while bailing out aig headed by former ceo hank greenberg who will be repealing that. more than that life story coming up today on morning santa maria. the story that she broke here is that the government is looking at this and now they have to

consider this and that life is saying the government failed to consider metlife has vulnerability in financial crisis of some sort. they are challenging the too big to fail designation. sandra: it is amazing all this is getting worked out so many years after the recession. nicole: these are the topics discussed. sandra: the debt crisis drags on in the country's leader in a top e.u. executive engage in a war of words. prime minister alexius tsipras accusing creditors are trying to humiliate greece with more cuts. european commission president jean-claude juncker insisting he had made clear that he was personally against hiking taxes on medicine and electricity bills. the central bank warning failure to reach an agreement with creditors would put the country on a painful course towards defaults and exiting the eurozone. let's get you caught up in global markets this morning. a lot of action you don't want to miss. stocks in asia still mixed with

the nikkei down, hang seng and singapore up. in europe with the next action, but mostly to the downside. i want to let you know there was news coming out of the u.k. the unemployment rate of 5.5%. earnings went up 2.7%. a lot going on for the markets to digest. ftse to the downside 10%. some optimism and green arrows there appeared contrary to what you think globally, pointing to a higher open on wall street this morning. dow futures at 61. earnings, fed meeting, a lot going on today. amazon turning people power. lauren: is a great story from "the wall street journal." amazon working on a mobile app that would pay a ordinary regular people to deliver packages for them. the service is called on my way. it would use retail stores to hold packages until someone, regular person can pick them up

and save amazon a lot of money. it ships about 3.5 to packages and the cost to do that rose 31% in the last year. it's 3.5 million packages a day. i left out that word. sandra: 3.5 million of anything that day of anything sound astronomical. should i go get the package from cartier? i'd be happy to deliver that. you know what i mean, how did they really weed out to people who can deliver? sandra: they are not the only company talking about this. if anybody can make it work. a rare retreat for starbucks as they get set to close some pastry shops. we will explain why. investors focusing on janet yellen and what she'll say that the u.s. economy at the big news conference today.

u.s. stock index futures at a ball bat. dow, s&p and nasdaq all trending higher. you are watching "fbn:am," your first look at morning markets and breaking news. ♪ hey america, still not sure whether to stay or go to your people? ♪ well this summer, stay with choice hotels twice and get a $50 gift card you can use for just about anything. go you always have a choice. book now at choicehotels.com to breathe with copd?ow hard it can be it can feel like this.

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sandra: let's get you caught up on global markets this morning. in asia, stocks finished the day mixed. make a, hang seng and singapore to the upside in europe. we europe. boosting stocks go in and out of positive territory there. for the time being onto the downside here at the ftse, cac and dax all. this afternoon earnings from fedex and oracle. stock index futures pointing to a higher open in gold, head of the conclusion the two-day meeting in the announcement this afternoon. investors not seeking a safe haven for now. gold futures down two tenths of 1%. a lot of action going on at starbucks this morning. not just because it's morning coffee time. what is going on? lauren: first of all, starbucks is closing all quite creative bakeries by the end of september.

to manufacturing the surface bakeries. starbucks hot lava lounge for a million dollars three years ago but it is still focused on food. operating a separate a curry doesn't make sense for starbucks right now. also i think you are in need of a fast coffee fix. no problem if you live in these parts of the country. starbucks has expanded its mobile over in 221 additional states. not here in the northeast but 3400 starbucks now expecting mobile orders. please been ahead of time on your phone and to the starbucks in pick it up from the police. sandra: starbucks has always had their customers are very tacky. they embrace any technological advantages they made. lauren, very much. and tropical storm bill charge across texas with heavy rains and high winds. the latest on the wild weather. that last battles over the government. the too big to fail status. we will have the latest on maria

bartiromo's metlife exclusive. nicole will tell us what is coming out. checking u.s. stock futures ahead of the fed policy meeting. all of that happening today. futures are up, dow up 51 points. you are watching "fbn:am," your first look at morning markets and breaking news. ♪

sandra: breaking news, tropical depression bill with the latest wild weather sweeping across the u.s. seth curry in the golden state were his crush lebron james and the cleveland cavs. fed chair janet yellen to talk

about the fate of the u.s. economy. the three things you need to watch. checking u.s. stock markets ahead of the opening about this morning. look at what is happening on the markets. dow, s&p and nasdaq futures all higher as we kick off the morning. i am xander smith joined by lauren simonetti entrance eyes. welcome to "fbn:am." the latest breaking news and what to expect in the days ahead. lauren, you are focused on the site of so many are today. lauren: when will they raise interest rates and by how much. sandra: that is the big question. nicole, you are looking at metlife battle with the feds. nicole: finding out about a 70 page filing to the government saying it is too big to fit designation. sandra: let's get some breaking news overnight. major flood threats in texas as tropical storm bill goes across the state.

expected to jump heavy rains in the same region hit by the floods during the moral day weekend. some parts of the state could see up to 12 inches of rain. forecasters say the system will generate rains in the eastern half of texas and oklahoma, missouri and arkansas in coming days. the golden state warriors or nba champs. the cleveland cavaliers 105 to 97 in game six of the finals. the first championship in 40 years. golden state andre was named an mvp. 32 points for the cats. highlights coming up. federal reserve policy makers wrapping up that important two-day meeting today. lauren, you have the things we need to keep our eye on ice all of this unfolds. lauren: we all know grace will go well. we need to know when. we get the fed policy statement,

revised forecast for the economy includes gdp in interest rate predictions. and then a press conference by a chair or janet yellen. focus on not only when rates will go up, but by how much. in march the fed said they wanted to rise 2.65%. that would mean to rate hikes this year. not only when the first one will be, which is likely september but how many after that. press to set the tone for future increases. watch for the word gradual. they do not want to shock the economy. they have been warned by the imf and the world bank that they should not hike rates this year because those institutions don't think the u.s. economy can handle it. we will look for clues today. sandra: all the barometers this fire is concerned.

not where it wants to be in order to have the rate hike. that doesn't mean they are ruling out the hike is coming. september is the likelihood that that could change. talking about september. as they keep noting the more economic data that comes in, those estimates change. nicole: to manufacture a story, on economic data. the grace wild card as well. people are pushing it off. lauren: you heard trump yesterday saying look at what the fed tells you about the job market and that is not the real number. >> he says he's going to fix everything. sandra: fox business will have full coverage. when it's released at 2:00 p.m. eastern followed by the news conference 30 minute leaders. that life turning up heat on the

government. sandra: maria bartiromo breaks that last night with an exclusive learned that metlife has filed the desert nation of the systemically important institution. marie is reporting that life is reiterated its position into a federal judge seeking to have its too big to fail status overturned. the insurer claiming financial stability oversight council acted as judge, jury and executioner in making the determination and offered no avenue for metlife to obtain a fair hearing on the issue. the following that the government went beyond its authority and demanding an equity stake while bailing out aig headed by former ceo hank greenberg. it is overregulation ended the government go beyond its authority. it empowers the industry overall to look into this. a 70 page filing. maria bartiromo will have more on it. the government they be failing to look at metlife in this

vulnerability as well as financial stress. sandra: maria, we'll have more on the metlife story coming up with morning ms. maria from 6:00 a.m. to 9:00 a.m. eastern time. the crisis drags on as the leader of top e.u. executive engage in a war of words. prime minister alexis tsipras accusing -- president jean-claude juncker react angrily of misleading the public and insisting he made clear he was personally can take in taxes on and electricity bills. the central bank warning the agreement to creditors would put the country on a painful course for its defaulted exit in the eurozone. let's get you caught up in global markets. asian markets finishing the day of mixed territory. meanwhile in europe we've been seeing some weakness across the board with the ftse, cac and the

dax. at home we await the conclusion of the two-day meeting. any word on the possible rate hike? or is that today. dow, s&p, nasdaq all higher. donald trump entering the 2016 presidential race. >> i will be the greatest jobs president that god ever created. i will tell you that. [applause] i will bring back our jobs from china, from mexico, from japan, from so many places. i will bring back our jobs and i will bring back her money. sandra: a very confident presidential candidate donald trump. he also prayed neil young's rocking in the free world in the announcement. the rocker is not happy this song was used at the event. the musician is a longtime supporter of bernie sanders.

meanwhile trump says oprah winfrey would be a great running mate. don't miss mornings with the raid this morning. i'm sure we will talk about more of that. also eric trump, donald trump said will be joining her. the executive vice president of trump organization at 8:30 a.m. eastern time on the fox business network. republican congressman darrell i said over a new leaf and females from lois lerner. the irs will not hand him over because it's making sure none of them are duplicates. darrell issa was on caputo coast to coast. >> it means they are lying. here is the delay here. they make it a race to send endless duplicates. they always want to give us the maximum number of pages in order to brag about how much they've given us. lois lerner at the center of

this scandal. here's another sign the economy is growing. more people are having babies. the rate of births among women ages 15 to 44 rose 1% from 2013 to 2014. that is the first increase since 2007, the beginning of the recession. according to the national center for health statistics. we will be watching earnings from fedex and oracle today. nepal today. nicole, your following those names. nicole: let's take a look. two companies and fedex expected to report a profit of $2.60 per share. revenue of $12.3 billion. the package delivery giant is seen as an economic bout. due to report those results this morning. and then we will hear from oracle after the bell. the database company to an 88 cents per share.

the revenue on $10.9 billion. fedex which is a winner here today looking at e-commerce and the like and for oracle ups has a low hurdle to jump and we will watch the competitors to see how they react. sandra: the first quarter this stock prices at $40 for oil and basically nearly doubled since then. coming up, the golden state warriors take old and crushed lebron james and the cavs. we will have the highways. investors focusing on white janet yellen will highlight on her news conference this afternoon. a look at a u.s. stock index futures as we look up wednesday morning in the green. dow futures up 53-point. you were watching "fbn:am," your first look at morning markets

and breaking news. ♪ is

sandra: let's get you caught up in global markets this morning. in asia, stocks finished the day mixed with the down, hang seng singapore to the upside. the world is in countdown mode to conclusion of the two-day meeting this afternoon. and europe the stock market trading to the downside. honestly greece playing a big part in trading as well. here at home stock index futures are positive and awaiting any

word from janet yellen on the u.s. and global economy. any language on the next interest rate hike and whether it will happen in what capacity it will happen. the federal government is looking into allegations the st. louis cardinals hacked into the database and the houston astros. investigators told "the new york times" private areas for compromise including proprietary statistics and scouting reports. as to be the first instance of corporate espionage between two sports teams. major league baseball is cooperating with investigators and the fbi and justice department. turning to sports this morning, the warriors 40 or wait for another and the title is over. they are the champs after beating cleveland 105 to 97. the warriors had the mvp. he and seth curry scoring 25 points each. a flurry of golden state three

pointers but the game out of reach. lebron james had 32 points but had little help due to cavalier injury. golden state taking the four games to two. in soccer, abbie while back scored the only goal. the u.s. women have advanced to the elimination round as the women's world cup. another one for you, nicole. matt harvey returns to form on the mound as well as the play. he threw seven shutout innings and drove in a run with a double. the mets lead the national league each having won five of their last six. major flood threats in texas. right now fox meteorologist janice dean has been watching this for us. what is the latest? reporter: we will be watching our friends in the southern plains. tornado watch for the next hour or so. conditions favorable for tornadoes. look at the moisture streaming across the plains and eventually

the ohio valley and the northeast this week are the forecast rainfall in some cases we've seen upwards of six inches. three to six more possible and the heights at a very warm across the southwest. 114 in phoenix. check on the elderly. keep the kids inside with the air-conditioning. maria: as you reported earlier, no major travel delays. reporter: so far. dallas-fort worth will be tough. and that might cause a ripple effect. maria: janice dean, thank you. global market action one more time before we handed over to maria bartiromo. stock futures in the green. will there be a higher open? stay there.

is

sandra: a fresh look at u.s. stock index futures as they kick off this wednesday morning. u.s. stocks keep it on a positive note after today of blossoms in yesterday's session.

green areas continued today pointing to a higher open. crude, a big green arrow. right now reaching highs at the overnight session of 1.7 or send. inventory report this morning. gold, no-space haven ahead of the feds announcing this this afternoon gold prices falling. time now for maria bartiromo and "mornings with maria" appeared maria: hello, sandra. see you in about an hour. it is wednesday, june 17th. with me jerry baker, wall street editor in chief, dagen mcdowell. first, your top stories. a fox business exclusive i learned that metlife is filing a new lawsuit last night against the financial stability oversight council. challenging its too big to fail status. in short, not like adding to its initial lawsuit first filed in january which said i've