>> well, i'm reminded of when attorney general albert albert gonzales stepped down. and there were allegations then >> there is clearly lots of confidence in director comey and the women knew so ably served the fbi. lauren: donald trump says you're fired to fbi terror james comey. reaction and analysis to this stunning development. good morning, everybody. i'm trained for. nicole: good morning. i'm nicole petallides. jitters in the stock market as well as investors react to earning from disney. u.s. stock market futures at this moment. dow futures on 52. s&p futures down for.

lauren: news of the signing of the fbi are. nicole: in japan through minicamp one quarter 1%. a look at the shanghai composite index down nearly 1%. lauren: complete live coverage out of washington today. nicole: almost 5:01 a.m. in new york. wednesday, may 10th. we welcome you to "fbn:am," your first look at morning markets and breaking news. lauren: president trump firing fbi or james comey after officials claim comey's handling of data e-mail case last year rendered him unfit for the position. >> although there is evidence of potential violations of the statutes regarding the handling of classified information, our judgment is that no reasonable prosecutor would ring such a case. we are expressing to justice rv that no charges are appropriate in this case. lauren: white house press

secretary sean spicer tonight. >> the deputy attorney general made a determination the fbi director of boston's confidence. made a recommendation to the attorney general. the attorney general concurred with that and the president agreed with their conclusions and terminated the attorney general, fbi or position as the fbi. lauren: comey was speaking in los angeles when the news broke. nicole: presidents trump letter to comey is the essentially friendly leadership to restore his public trust and confidence in the vital law enforcement mission. senate minority leader chuck schumer questioning the timing of the firing. >> given the way he fired direct her comey, anyone who points to the russian investigation will be concerned that he or she will meet the same fate as director

comey if they run afoul of the administration. nicole: the president to rethink crying chuck schumer stated recently i don't have confidence in him, meaning james comey any longer. drain the swamp. andrew mccabe has been named yet in director. white house officials say the nominee is in the coming days. lauren: joining us now from our reaction to this dramatic story. the firing of james comey and gop strategist chris and i weigh. see both of you. the question for you first is by now? why was director comey fired? >> like sean spicer just sean spicer just said in the clip we watched. this is not about donald trump. this is the deputy attorney general in his recommendation to fire. what we see is a nomination by the president that happened in january.

it took until april 25th confirmed by the defendant appeared and 94-6 though. he was the one that wrote a memo to the attorney general recommending the spirit in fact it was not only would the day for the clinton investigation, but it was a press conference. most recently he testified before the oversight committee on may 3rd and he said he'd do it again. he would give another press conference and that was the point they had to make that decision. nicole: chris, what are your thoughts? >> i agree with david referencing the memo. it is just a new chapter for the fbi. the president probably felt it was time to move on. many people may agree that director comey asserted a statue in this political lotion while the decisions he was doing, folks wanted him to go one way or the other. listening to senator schumer's

comments. it might be beneficial to have a new leader in their as we move forward postelection. lauren: chris, went to estimate the democratic response. calling this a mistake if the democrats who blamed call me for essentially hard at losing the election. now they are questioning the firing. can you explain that? >> every time i hear crying chuck schumer to laugh out loud a little bit. the fact is 2015 senator schumer is calling for strict dirt that in any year and half later he was crying about it. it's partisanship -- hyper partisanship. i don't think you can take that too seriously. investigations going on will continue and if anything removing director comey increases media opinion might just be time for the next chapter of the federal bureau of investigation. nicole: what is it? i'm saying we need new

leadership nfl is really the ceiling he just had way too much power. where do we go now? >> key is the russian investigation. the same deputy attorney general that makes his recommendation is in charge of the investigation. nicole: how important is it to get this in place? >> special prosecutor will be up to the attorney general. he is the man running the investigation can seem confirmed by the senate 94-6. lauren: is one needed from a special prosecutor for the russian investigation? >> it may be. the comments by mr. krauthammer last night were interesting. there is no crime. the comparisons to watergate. i've heard watergate more than a cnet and i live in washington d.c. it's possible, but it will proceed and if something comes up significant, will know about it.

lauren: in terms of comey being sired company made enemies on both sides. when you have done to stand up against you, this is what happened. david bruno comic thank you for joining us today. nicole: let's get the view of on first it on the firing of james comey. former d.c. homicide detective rod wheeler. good morning. >> good morning. how are you? nicole: good morning. do you think this is long overdue? did he overstepped his rounds? >> an outcome i think what happened and i followed comey for many years. when it comes to the line to the law-enforcement aspect as direct or the fbi, he did a tremendous job. i will say a lot of law enforcement agencies across the country really had a lot of respect and still maintain a lot of respect. here's where the problem came in. he felt to manipulate the politics of washington d.c.

but i mean by that? he got to politically involved in these issues. we start seeing the breakdown of jim comey and his leadership when it came to the clinton e-mails. there were a lot of people in the d.c. area that no one law-enforcement that jim comey was handling the case properly and he was one thing after another and another issue. what happened as president trump came to the point which i think makes a lot of sense and said look, could start a -- time to start fresh. lauren: how to think this has affected the sense of morale at the fbi? >> that's an excellent question. i have a number of fbi friends and i was talking to them yesterday. it's really mixed emotions out there. some people felt as though it was time for jim comey to go within the ranks. others felt he should have stayed. we are going to continue to hear reaction throughout the day today.

at the end of the day, the rank-and-file within the fbi think are going to be pleased with the new leader. trade to some of the debaters impossibilities floating around former police commissioner ray kelley. new jersey governor chris christie, david clark, congressman trey gowdy and former deputy fbi director john pistole. any thoughts on any of those potentials? >> out to you one thing. whoever winds up replacing comey needs to have a strong law enforcement background. why do i say that? whoever is going to be in that seat now, keep in mind they have to represent the president on multiple areas of one force it. not just the political related area. a lot of names out there being floated around. at the end of the day most of the law-enforcement officers hope whoever president trump selects has a strong background in supporting law-enforcement because float, that's who the

person is going to be who's going to lead us in one force. trade to rod wheeler comic thank you. >> thank you. lauren: discussing the future of james comey in an interview with ricardo romo. >> people are still wondering, scratching their heads by so many obama era staffers are here. was a mistake not to ask jim comey to step down from the fbi. is it too late to ask them? >> no, it's not too late. at confidence we'll see what happens. it's going to be interesting. lauren: was out of hand? also telling ricardo romo that he wanted to give comey fair chance. nicole: let's get caught up in the global market action. the nikkei up one quarter of 1%. in japan, the hong kong hang seng apostle 1% of the shanghai composite index down 1%.

lauren: stats in europe are treating us well. cac quarante down nine committee accenture me down six. nicole: the contiguous stock market futures this morning. down 53 points. the s&p 500 down four. the nasdaq down six. lauren: whole foods, co. 21st first century fox on the wording today. oil right now up 1%. forty-six dollars, 32 cents a barrel. gold of the 12.23 a troy ounce. nicole: more reaction to a firing. comey was optimistic about his future. >> he stuck with me for about six and a half years. i'd love to be invited back again. nicole: more on that breaking story. you are watching "fbn:am," your first look at morning markets and breaking news.

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nicole: good morning. 5:15 a.m. here in new york. let's get you caught up on what's happening now. washington still reeling after donald trump fired fbi director james comey. he cited the handling of the e-mail scandal involving nominee comes as comey is that an investigation into the trunk campaign possible collusion with russia to influence the election outcome. the russian foreign minister sergey laugh out of the white house today. the two are expected to discuss the civil war in syria. the highest level contact between trump and russia since he took office. a mixed bag of earnings to disney. the company reported a surge in

quarterly profit that missed deadlines because of a deadline of subscribers in espn. stocks fell 2% after hours. "after the bell" today, snaps first earnings report as a public company. its ipo in march was the largest in two years but the company has yet to make a profit. check out u.s. market futures today after dow futures to 49. s&p downpour. nasdaq futures down five. lauren: thank you, nicole peered washington d.c. for the reaction to the firing of james comey. rick jenkins there. good to see you. this is a surprise? >> loreena nicole, good morning. the president's bombshell filing of fbi director james comey received or the authority of loretta lynch in the clique meme investigation. the decision coming swiftly after deputy attorney brad

rubenstein. became the end of the conclusion of the investigation secretary put in females than i do not understand his refusal to accept the judgment that he was mistaken. in a separate letter, to call me from president trump, telling the director his dismissal was necessary to destroy the trust and confidence of the public. democrats reaction as you might ask on our bridge. question at the time incarnate nixonian in demanding a special prosecutor be appointed on the probe. senate minority leader chuck schumer called it a mistake. >> earlier this afternoon, president trump called me and informed me he was firing director called me -- comey. i said mr. president, with all due respect from your making a big mistake. first question committee administration has to do there is why now? if the administration had access

to the way director comey handled the clinton investigation, they have those objections did the president got into office. but they didn't fire him that. why did it happen today? >> the white house is quick to defend the decision push it back on question two is a cover-up. >> is wrong. it's not a cover-up at the president makes clear in his letter the fact that mr. comey on three occasions assured the president is not under investigation. the president says that is between the president of the united states and director comey. he's telling on at least three occasions he's assured me he is not under investigation. trainers are right now, the director of the fbi will take over as fact director and any decision on a permanent replacement the white house says there is no timeline although a lot of names are floating out

there. we're trying to find out more on it. all we do know is if they summoned the white house says can bring credibility back to the fbi. lauren: griff jenkins comic thank you for your report. trade to coming up, more on the firing of fbi director james comey. talking to her on maria bartiromo back in april. >> when he was reading those judges, she gave them every charge. and then she said she was essentially okay. nicole: more reaction for this developing story. u.s. stock market futures after a mixed bag yesterday. the nasdaq to close at a record high. pulling back four-point. s&p 500 down three. dow jones futures looking down 48 this morning. you are watching "fbn:am," your first look at morning markets and breaking news. ♪

>> it took a lot of guts. i really disagreed with him. i was not a sin. but i'll tell you what he did come he brought back his reputation. nicole: that was president donald trump talking about director james trained in reopening the investigation into hillary clinton. now the dollar cut some of its gains overnight on news the firing of the fbi were the stock market future under pressure this morning. sarah hunt, portfolio manager at alpine funds. good morning, sarah. was the initial reaction? what does the markets of any sort of turmoil.

as a more into russia's stuff? then you started thinking that this will be an agenda they were talking about. the big problem of the health hh care bill did not get past the first time. without that i can do tax reform of regulatory reform. now you have this news on the question is does that distract everybody or keep anything from happening? >> not to mention the director of the fbi will have to be confirmed by the senate. >> i would imagine that could be a challenge. went to start pushing agendas out, this is what the market has been continuously a mistake about what agendas can be brought forward that decides insurgency which markets are never that fond of. nicole: overall earnings, 87% reported in the highest-rated top to bottom it are teen years. is that enough to keep the

market afloat? stock market futures down 50 points this morning. >> i think it is about earnings for the first quarter that cut the market whereby the spirit earnings weaker than expected would've been a big album. they might barely see earnings going, but the expert patient as some of the momentum to continue in a tangle have to take some things into account such as tax reform and regulatory reform. lauren: talking about all this insurgency. had he juxtaposed back to the low-level volatility we see the stock market? >> is one of the big questions everybody says how can we volatility and it continues to go down. a lot of people would say that the calm before the storm but this could go on longer. you have a lot more financial engineering fund doing things excel in volatility. other more going on than there used to be 10 or 15 years ago. he say this is the lowest since 1993 but he didn't have funds

that were selling volatility and trying to over the knocker pieces in two their portfolios. in the end come into something that's continued to go in one direction. what changes that is the big question. nicole: the lowest since 1993. thanks so much. lauren: my reaction to the white house firing of the direct drive the fbi following the recommendation from the justice department. >> i told the president, mr. president, with all due respect are making a big mistake. first question the administration has to answer is why now. lauren: what is the market's reaction to all of this? s&p futures down 3.5. nasdaq futures coming off four days of gains and a record high down 4.5 points today. you are watching "fbn:am," your first look at morning markets and breaking news. ♪

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and the best place to find information is through the u.s. department of transportation. vo: learn how to protect your belongings. visit protectyourmove.gov speed there is clearly a loss of confidence in director comey in the men and women who so ably served the fbi. nicole: breaking news this morning. president donald trumps centerfire to fbi director james comey with his handling of the mill mastication. reaction analysis to this stunning development. good morning. and nicole petallides. >> mr. washington as investors also react to bigger and coming down from disney and the authorities snaps first report. the public company later today as for the marketing committee, futures and 52 points.

nasdaq futures down five. nicole: gains on the news of the firing of fbi director james called me. stocks in japan you can save any cap a quarter of 1%. the shanghai composite in china down 1%. >> will have complete coverage of the latest development out of washington. lauren: 5:31 a.m. in new york wednesday, may 10. you are watching "fbn:am," your first look at morning markets and breaking news. nicole: top justice department officials claimed the handling of the other crazy nut case last head unfit for the position. >> although there is evidence of potential violations of the statutes regarding the handling of classified information, our judgment is no reasonable prosecutor would bring such a case. we're expressing to justice our view that no charges are appropriate in this case.

nicole: white house press secretary sean spicer and lou dobbs tonight. >> the fbi director reports the attorney general made a determination in boston's confidence committee, made a recommendation to the attorney general. the attorney general concurred with data for the recommendation to the president who agreed with their conclusions and terminated the attorney general, fbi director position at the fbi. nicole: comey was speaking in los angeles when the news broke. >> president trump says in part it is essential we find new leadership that restores public trust and confidence in his final line first edition. senate minority leader chuck schumer questioning the timing of comey's firing. >> given the way the president fired director comey can any person here points to lead the russia investigation will be concerned that he or she will

meet the same fate as director comey if they run afoul of the administration. lauren: president trump giving his name, crying chuck schumer stated recently i don't have confidence in him any longer that mac so indignant and in the treat with the hash tag drain the swamp. director edgar mccabe has been named the act in director. white house officials say the nominee is expected in the coming days. nicole: churning out from my reaction to the fight of james comey, gop strategist chris and i weigh. good morning to both of you. i want to begin with you. there is really this feeling in washington from what iunderstane thought comey had overstepped his bounds, humbly to much power and was only say so -- i wanted

to talk about the long list of reasons, you may be unfit for this role and one of which was the e-mails they said there were hundreds of them than they had to go and correct those. was that an embarrassment? without one of many reasons he's out the door? >> at that level we accept not necessarily perfection, but high-performance. i agree with david. i would also say again, people have been prosecuted for lasser punished or less. the things we saw in the hillary clinton. to hear the attorney general and his name that i could just -- is an ideologue in my view. i don't disagree, but comey made an error.

lauren, which he defined as? >> this decision -- the came out with a press conference. he would make the decisions. he would usurp the doj's decision-making process. that is the problem there. we have a number of high-profile investigations going on in the doj had to make sure he didn't do it again and that is a large part of why they made that decision. nicole: with this diary now, how quick is it to replace him? >> it is important. >> if there is the replacement it also insinuates there's some cover going on. >> there has to be a nomination in the appointment process confirmation for the senate. it will take time out of match because is a hot guy.

director comey needed a hotspot with public speaking from the import investigations. trade dress are vapid appear, but would you say this is a wrapup for someone else. >> eliminate those voices heard and if anything, the president scrutiny will increase. this is just the constitutional process playing out and we will go on from here and see what happens with the federal bureau of investigation. nicole: thank you both for being here. lauren: thanks, guys. one person on the firing james 10. former d.c. homicide detective rod wheeler. >> good morning. lauren: has the leadership and encouraged by the hired -- fired at him. >> unfortunately due. but a look at the testimony before the senate last week, it was really disheartening to a lot of law enforcement officers and members of the rank-and-file

fbi. comey came across in that testimony as if he was one who is like the guy sitting on some. then it shouldn't be like that. i think that's the president trump recognized. he became a stature in washington d.c. when it comes to political investigations. the problem was he was picking and choosing which investigation he was going to focus on. let's look at the clinton e-mail probe. more aggressive going after clinton and surrogates in the e-mail probe and he was not. and now the whole business about the russian mac to the town of charm. a lot of folks are saying on these other networks from the what i hear over and over is the reason they made the decision is to isolate himself from to protect himself from the russian investigation. nothing could be further from the tree. president transplants a fresh start for this nation.

he's demonstrated it multiple times and is continuing down the path. >> i think you may be on point because there are some republicans who think comey had gotten too big for his britches. what kind of leader says the fbi need? kelley christie, clark, gowdy and also pistol were some of the possible replacements. >> brake levers in that seat has to be a person whose an independent thinker and a person who has the ability. i can tell you in washington d.c. a person who is going to be able to manipulate the political landscape in washington d.c. if you can't do that properly and remain an independent thinker, it is going to be tough for anyone. there are people that can do that and president trump has to recognize those. at the end of the day because of the russian investigation, it's

got to be somebody to stand up to the president. good or bad, whatever it is. the fbi or has to be a major supporter of local law enforcement. we rely for resources. he has always been a supporter of global law enforcement. we need to maintain that if i possibly can. nicole: well said, rod wheeler, thank you. discussing the future of james trent 10 just last month in an interview with maria bartiromo. >> people are still scratching their heads by somebody obama era staffers are still here. was it a mistake not to ask jim comey to step down from the fbi? >> now, it is not too late. i have confidence that we will see what happens. it's going to be interesting.

nicole: president trump telling the reader he wanted to get comey a good fair chance. lauren: let's get you caught up a global market action overnight. a mixed bag a show. the shanghai composite down 1%. after the election in south korea, the cost down 1%. making in japan. making japan the recorder 1% in the hang seng in hong kong that have a 1%. >> get a 1.5 year high. approximately a quarter of 1%. and the german dax to the downside. lauren: the nasdaq down 5.5 points. the dow is down 53 points. s&p pitch off by four. oil is up 44 cents at order 6.32. 12.22 at troy ounce. a weaker dollar this morning. lauren: coming up, more reaction

to the dramatic firing of comey,

still has yet to make a profit. dow futures up in 52.3 quarter of 1% this morning. s&p futures on four. nasdaq off another record down five points. that's a look at what's happening now. let's go now to washington's reaction >> good morning, lauren and nicole. this got washington off guard. the bombshell filing of fbi director james comey for usurping the authority of attorney general the red dimension in the clinton e-mail investigation. the decision came swiftly after recommendation of deputy

attorney general rod rosenstein said in the letter i cannot defend the director's handling of the conclusion of the investigation of secretary clinton females and i do not understand his refusal to accept the universal judgment that he was mistaken. in a separate letter to comey can a president trump told the director his dismissal is necessary to restore the trust and confidence of the public. democrats reacted without questioning the timing of the decision, calling it nixonian and demanding on the rush appropriate senate minority leader calling it a mistake. the >> earlier this afternoon, president trump called me and informed me he was firing tractor comey. as for mr. president with all due respect to me are making a big mistake. the first question the administration has to answer is why now. if the administration had

objections to the late director comey handled the clinton investigation on the day had this objections the minute the president got into office. but they didn't fire him then. why did it happen today? >> the white house was quick to defend this decision pushing back it was a cover up. >> is wrong. it's not a cover it. the president makes clear the fact that mr. comey on three occasions assured the president is not under investigation. the president says that is between the president of the united states. >> the deputy or andrew mccabe takes over as acting director in the white house says there's no timing on the decision for replacement. the story certainly fluid. lauren: is certainly a is certainly yes. what are the names being floated as possible replacements for jim comey? >> a story today suggests for

names that new york police commissioner ray kelley. governor chris christie. you've got congressman trey gowdy here we've seen handle a lot of investigation in washington and a wildcard a little bit when used on the campaign trail, sheriff david clarke. we don't know if any of those names are abating, but one person we know that will not be mayor, rudy giuliani at trump tower not under consideration. lauren:.a. for the president's firing of fbi director james comey. here is the president trump said to maria bartiromo back in april. >> when he was reading those charges, it was every charge and then he said she was essentially okay. lauren: my reaction to this developing story. you are watching "fbn:am," your first look at morning markets and breaking news. ♪ take these chances, place them

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wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. >> took a four director comey to make the move that he made in light of the kind of opposition he had. it took a lot of guts. there really disagreed with him. i was not a stand, but i'll tell you what, what he did come he brought back his reputation. nicole: dallas president trump on halloween three opening the investigation into hillary clinton and now the market reaction, the u.s. dollar cutting some of its gains overnight and is that the firing of fbi director. driven us to talk about this is

sarah hunt this is sarah hunt, manager at alpine fence. good to see you again. and the reason for investors to be concerned about the comey fire them up at us to the agenda going forward? >> it opens up the time in question. once you got the health care bill that was part of the whole we need to have money for taxes and pushes out the agenda potentially because the wonders depends how long this takes to get results. >> some of the factors in the markets today. dow futures down slightly. disney shares reporting its latest profits. espn still problematic. your thoughts on disney overall. >> disney is one of those very got a couple things that went really well this forward. the biggest question is a cash cow of espn let apple do. the subscriber drops are what people are worried about. the whole cutting court question and able to charge that i was charging all the costs are going up because they had an mba renewal. i think you've got a couple factors going on. for disney that still is a

question. the tv ad sales was a little bit lighter than people were looking for. those are the areas you had consistent cash flows for the other areas can be more up-and-down. lauren: what does disney do with espn exactly? other customers who don't pay the cable bill? >> they're looking for different knowledge so they don't lose the revenue assumes the cable subscriber. it's harder to charge as much for individuals as it is cable companies to carry the content. when people get comfortable that is either leveling out or has gotten to a point, it makes things -- you've got that working for you. it's a question of where that goes forward it if it gets worse, the sox will stay. >> there's a feeling of someone of a pullback may be of any sort of new set of washington. do you buy a mac? you feel the markets are bumpy? >> i think they are discounting a flood of good news we are now

questioning when that will happen. there are still places, they still want to span. electronics. all of that has been quite weak and retail and have a little bit in and out. people are still willing to pay up for iphones and all the devices we talk about to get the content. nicole: you mentioned energy of opec or extend the cuts. >> that's good if energy goes down if they don't you they don't you also have the opportunity as well. lauren: got it. sarah, thank you so much. nicole: coming up, we'll handed over to markets of paris appeared first, dow futures down 49, s&p futures down for, gnostic futures down for. you are watching "fbn:am," your first look at morning markets and breaking news. ♪

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tree into a morning filled with breaking airs. lauren: maria bartiromo will take you to the next couple hours of trade and politics. good morning to you, maria bartiromo. maria: good morning, everybody. it is today.

it is wednesday, may 10. cap story 6:00 a.m. on the east coast. fbi director comey is out. trans decision sending shockwaves throughout the nation's capitol this morning. democrats on the hillside and the decision was senate minority leader chuck schumer telling the president he was making a big mistake. the white house to the airwaves to defend the decision. >> you certainly lost the confidence for members of both sides. republicans and democrats in the house and senate and frankly most importantly lost the confidence of the american people. >> first question the administration has to do there is why now. if the administration had objections to the way director comey handled the clinton investigation, they had those objections the minute the president got into office. maria: details over who will replace comey now it's