that's it for us tonight. thank you for joining us. congressman ron desantis and sebastian gorka are among our guests. please join melissa the >> we know that anytime they have a strong economy we have to deal with higher interest rates in the fed will have to manage a tough problem. lauren: breaking news this morning. good news for the economy is bad news for the stock market after plunging 660 points on friday we may be in for more selling today. >> check the stock index futures as you wake up this morning. they are lower. dow jones industrial average futures are down by 52 points. overnight done by triple digits of things are already improving. s&p futures down to enact it features up a point this

morning. lauren: worries that rising interest rates in the wake of an economy by much of the selloffs the 10 year treasury continues to rise right now to .846%. connell: would flip it over to your. the ftse 100 in london is down by 1%. the other major average we follow in paris and frankfurt are lower by less than 1% this morning. lauren: a nation, stocks really think that the nikkei in japan than to put 5% and below 23,000 for the first time this year. take a look at asia, china and shanghai composite gain .35%. trained to indians for it. >> the philadelphia eagles, the long drought is over. finally. lauren: you heard back. the eagles won their first super bowl ever. left to minneapolis for cheryl

casone. "fbn:am" starts right now. connell: good for the eagles. 5:01 a.m. here in new york city. starting to come around to the idea proposed for some time that the day after the super bowl been a national holiday. not that i would want to be here. i would be here anyways. lauren: it is for many people who are sick today as a result of their festivities. train do a heckuva game. i watched it here at fox. good for the eagles. they never wanted before. good morning, everybody. connell mcshane silliman once again for cheryl casone. lauren: big news this morning. we are watching the global market selloff after u.s. stocks last week had the worst week in two years time.

we do have a down birthday. gallup 68-point but it's not down to 150 earlier. and nasdaq completely unchanged. what should investors ask backed when the opening bell rings starting off a new week they bring in the founder and author the chief strategist at all point asset management. david, i heard for years now there is a wall street added to the market doesn't like to selloff on a friday said the selling happens on a monday when they finish things. we are not seeing that today if you look at u.s. futures. >> look at the close today. how we open is probably problematic. from last week you mention some of the problems at the top of the show. rising interest rates and that is a concern because as interest rates rise, multiple expansion goes out the window and valuation start to become a concern.

however, we don't need that anymore because the economy is growing fundamental strong. sales are growing as well and that's pretty hard to fudge. apparently selling a lot more widgets. lauren: add-on, can the market economy handle 3% interest rates affect the direction we are going in and at what point does it become restrictive? >> absolutely. the market can handle a lot more. interest rates are abnormally low. people are working. unemployment is only for .1%. that's incredibly powerful. corporate earnings are raising 18% to 20%. the economy is so strong. gdp is to put 1% and i don't know if you saw last wednesday the atlanta fed said it might codify .4%. the fact is if you have people working, companies profitable, and that is all reason to be in

the stock market in a lot more powerful than rates rising to three or 3.5%. >> you can also talk about wage inflation and we saw that in the jobs report on an annual basis of 2.9%. this is awesome news by letting everything i've just spoke about. what change the narrative? >> every now and then you get something like this for good news because bad news and friday we had a good job's number the market was pretty fresh. that's a pretty powerful force on wall street. coming into the start of last week we were 12% above the 200 day moving average. the fact that selling to place i think it's a concern. it's uncomfortable but if you're like me on the side of the camp that believes this is a pullback or force a correction in an ongoing bull market you do one of two things. if you don't have cash in the market started to add it and if

you're fully vested like these a chance to upgrade your portfolio, get rid of losers and bind to the names you've missed on the way out. lauren: to back this up, adam, amazon is seems like a safe haven come all-time high for the stock on friday. is that the new safe haven, the new cold? b. mike is the new cold? there's nothing amazon can't seem to do. it improves your business and now they are getting into health care with prescription drug distribution by potentially offering health care themselves along with jpmorgan and berkshire hathaway. the fact that amazon is up on an incredibly ugly day for the rest of the market gives me cause to be enthused. lauren: i like the optimism. adam, david, thank you for image. the dow is still up 3% this year. connell: i like that amazon is the new cold by the way.

thanks, guys present and past the hour as we move on to our other big story of the morning and i'm sure of the week. the battle of the surveillance memos. three days after republicans released a document that alleged political bias by federal law enforcement officials. democrats want to counter with the number was around. republican memo mishandled application for surveillance warrant on carter page saying the bureau failed to disclose who was flying in part on research compound by the british intelligence officer christopher steel the side of the screen paid partly by democratic linked groups. lauren: democrats in order to discredit the russian investigation. >> it is really bad precedent and unprecedented to not only court that a source has this level of bias. look at just the disclosure of who paid for it.

they could've easily said it was the dnc and hillary clinton. >> they voted against hearing from the fbi. you haul them in under oath and say why was this included. the interest was an oversight. as a political hit job on the fbi in service for the president. train through the house intelligence committee has blocked the release of the memo but it will meet today to consider economically democrats particularly pushing for that. train to a lot of people say we will see it in the timing remains a question. and my companion to talk about this commend the attorney who is kind enough to join us by the way from it begs the question what are you doing. good to see you, by the way. on the democratic memo is foreign product that looks like this is a push this week that we will see a counter to what the gop released at the end of last week. do you think this comes out at that point? is that where this is headed?

>> it's likely because even now on the gop side they are saying yes it's going to be released. note that for the democratic response to be released it has to go through the same process the gop memo which is the house intelligence committee votes on it and the president has five days to veto it and it's going to say exactly what we expect, which is essentially on what pieces of evidence to the court relied in a white tent where the pieces of evidence material. democrats are arguing there was probable cause for the fisa court to believe the page was in fact an agent of a foreign power. they argue the evidence relied upon record before the research opposition memo or dossier was created. we essentially get to persuasive briefs. what is more compelling for the american people in the issue of transparent date if the underlying application. it doesn't matter to us.

what we see is what is omitted. we need to see what was relied upon on his applications for warrants. connell: we don't know the other components. everyone keeps saying we don't know what we don't know about the republican now know. the president claimed as i'm sure you saw on twitter that he was vindicated by this. many in his own party we saw trey gowdy a minute ago, he and others have pushed back and said these are separate issues. concerns about how this is handled that it doesn't indicate the president. what is your analysis on that point? >> right, obviously up to interpretation for how you view it and we won't see the full picture unfortunately until the application is released. from what we know thus far, we don't have any pieces of evidence linking the president to any collusion whatsoever. we are not going to be able to make that conclusion until everything is before us.

what i see again until everything is released, how do we know it has been cherry picked or is being highlighted by each side. connell: we do appreciate the early bias out there or the state of play. emily, good to see you. we appreciate it. unlike companion no. lauren: at the latest in a deadly train crash over the weekend in south carolina. an amtrak passenger train slamming into a freight train at what caused it. apple and spot a fire in the of music streaming. we will see. a likely u.s. stock index futures at the moment after 656 points allowed on friday for the dow still down by 75 points. nasdaq futures has been higher. they are two points. we will be right back. ♪

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lauren: welcome back. good monday morning. let's get you caught up on what's happening now. but the market is doing monday after the major assaults on friday. nasdaq futures are up to commend dow futures down 80. federal investigators to figure out sending the amtrak train onto a collision course with a freight train of thought carolina. the amtrak train beef three new

york and miami. the contact area were killed and more than 100 others injured. this is the third fatal accident. broad column is ready to office software for qualcomm. "the wall street journal" willing to pay $120 to increase pressure on the chip maker which rejected its first offer of 105 billion if it is successful. would be the largest technology deal ever. the federal reserve officially getting a new chief today. darius, jerome powell sworn in at 9:00 eastern time and historically booming economy. powell replaces jimmy allen has led the central bank since 2014. the shortest tenure is for nearly four decades. train to a challenge for the new fed chief.

raising winds and all the rest of it. marcus could be worse. checking the features. train to china upcoming europe but. the fed imposing stone and restrictions on wells fargo. lauren: tracee carrasco back from vacation with more on that. how are you doing? good morning. >> good morning. great to be back. the fed said on friday wells fargo would be replacing floorboard direct or is this year and announced them that limits the size by asset. the revenue and profit growth. the fed cited widespread consumer abuses that wells fargo has never before impose such a broad restriction is part of an enforcement action. wells fargo is barred from growing 1.59 trillion in assets that had at the end of 2017 unless it gets regulators permission. the company can continue to land and take deposits per wells fargo shares tumbling in

premarket trading. trading do the other one, spotted by coming getting close to an ipo for their popular service, but a little bit of competition and regard as well. >> competition heating up in the streaming music industry and as you said they had a spot if i is ipo things are heating up. spot if i have long held the number one spot. apple music adding subscriber accounts in the u.s. at a faster rate according to "the wall street journal." subscribers have been growing about 5% monthly compared to 2%. if apple's music continues at this rate, it will overtake spot if i buy this summer. a lot of the growth is because of devices and of course the home speakers coming out later this week. we'll see how that increases. >> late to the game as they usually are. the super bowl is still partying

in the streets in philadelphia. some people look forward to super bowl commercials even more than the game. lauren: they do? >> yes, many people do. >> we have one. one of the highlights of the super bowl with the pepsico ad for two of the best number is coming to readers and mountain dew. it shows peter gingrich from "game of thrones" and buster weinstein would have been a rap battle against morgan freeman and missy elliott. not only is it hilarious but also smart. ♪ >> he's pretty good at that. pepsico was killing two birds with one stone and it marks a come back from pepsico's disastrous kendall jenner at last year.

lauren: i forgot about that. >> until i brought it up. connell: tracee, thank you. lauren: tom brady and the new england patriots lost to entrée in the super bowl. >> what an amazing turnaround for the super bowl fans. enjoy your big birdie trophy in philadelphia. lauren: life to minneapolis for cheryl casone. after the major stock selloff and rising bond that we saw last week. what is going on this morning? dow futures down 87. you are watching "fbn:am." ♪

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lauren: all right, take a look at the futures. das feature is now down all digits. other markets lower as well. our investors panicked? the dax that does discontinued arise about 18 morning. the philadelphia eagles with a birdie trophy back to philadelphia. true to the various parties in the streets of philadelphia last night. cheryl casone's new in minneapolis the day after the game with the highlights and i'm sure she is freezing. cavorting, cheryl. >> good morning, guys. one heckuva game for the first time the eagles have won a super bowl in franchise history. quite an underdog moment. what a game going into this a

lot of analysts said it was going to be a boring cave all about the defense. it was the opposite last day. let's show you how to get kind of played out starting with the third quarter. a 41 reporter: 33 victory for the eagles. the fourth-quarter drive was just incredible to watch. records were set last night in particular. 1151-yard for both teams. that was a super bowl record. in the first quarter there was 289 offensive yards. he think you'll see tom brady with the hail mary came when he set last year's end overtime. that didn't happen. the faltering of tom brady. a couple things to point out here. the quarterback of the eagles, nick fultz, what a cinderella story for this kid. of course had to replace the

injured quarterback at last night you could just see them as faithful watch this clip. he's just off what happened last night. >> care for my daughter, wife, family covered teammates. we are very blessed. >> the team a year just fight to the end, lean on each other. that's what the season has been about. >> that is the third season has been about for the playoffs. they knew they were the underdogs. they were worried that moniker a lot of proud. we don't have ratings just yet. it's too early but you can imagine what an action-packed game like that. 407 million is the about us ready for super bowl week at 125,000 visitors from all over the world includes media. $122 billion on operations around the city. 5000 jobs created for the super

bowl as far as the government has to take their state and local taxes paid about $29 million. back to you in your beard real cinderella story for the eagles. you may remember this. it really was eagles fans overtaking patriots fans last night and eagles fans are very, very loud. they are still partnering. connell: it was chaotic last night. as good for them. nobody thought after person with scott harris said they would pull it off. bertie was great, but nick fultz and eagles were better. congrats. go warm up somewhere. >> i'll see you guys in a little bit. train to the market plunged on friday, keeping a close eye this morning it interesting to watch throughout the morning. back in for three go down 119 on dow futures. back to the solid s&p futures

down by seven. tracking events in washington while congress release the democratic response to the size of them out. we will have the latest on that. keep it here, "fbn:am." ♪ give investors even more valu. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. excuse me, are you aware of what's happening right now? we're facing 20 billion security events every day. ddos campaigns, ransomware, malware attacks... actually, we just handled all the priority threats. you did that? we did that. really. we analyzed millions of articles and reports. we can identify threats 50% faster. you can do that? we can do that. then do that. can we do that? we can do that.

narrator:there's a new s of lung cancer screeningit. that could save her life. you stopped smoking. now start screening. learn more at savedbythescan.org >> we know that anytime we finally have a strong economy we are going to have to deal with higher interest rate and the fed was going to have to manage a tough problem. lauren: breaking news this morning. good news for the economy means bad news for the stock market was 660 points on ugly -- on friday. it was an ugly day. connell: we're on top of it. the top index futures down 123 points and dow futures. the selling may continue. nothing crazy percentagewise. the nasdaq 100 futures lower by four points. >> investors are worried that

the index rises in interest rates rise. you can see the 10 year yield a to .85%. >> in europe, sharply lower in london right now. the other markets whether the middle of the screen down by less than 1%. lauren: in asia, most markets they're closing down the hangs in the cost each down 1%. lauren: japan stuff a lot. the house considers release with counter memos to the controversial memo. the fbi abused. we'll have that throughout the day. in sports. philadelphia eagles, the long drought is over.

finally. connell: finally, philadelphia eagles won their first super bowl in history. live to minneapolis with cheryl casone. "fbn:am" continues right now. connell: 5:32 a.m. in new york city. congratulations. still standing. it was crazy there last night. good for the eagles hit anyone with some great super bowl flipping and with the same. >> pay off. as one of the morning for you don't know what to talk about first. the market so i'm not an amazing victory in philadelphia and the pfizer memo. >> memo, memo. i'm connell mcshane silliman once again. lauren: i am lauren simonetti. connell: we do pick up to some

extent on selling. stocks had their worst week in two years last week. stock index futures are lower 112-point drop on dow futures. what should investors expect when we ring the opening bell on a monday? longtime floor trader down at the new york stock exchange. so much so that anybody earned the nicknamed sarge. how are you? >> good morning to you. i earned the nickname in the marine corps. connell: probably a good story by the way. what he think when you wake up in peter futures as i said a moment ago percentagewise down. >> into the equity market you have to add a little bit of the futures. about 11 or 12 and the dow

futures down 100 xt. and i think it's going to be sloppy going into the trading action. you won't know how equity stands until tomorrow night after that close. if you have an event like friday you need a day or two to let the market digests was happening. connell: it is funny because everybody, not everybody, but a lot of people say this market can go up forever. when you do see some sort of a pullback and i might actually do get it, when it comes as aggressively as it did on friday, some other some people that called for the pullback starts to worry. >> the truth is i did start the market on friday. i went to the high-level cash a few weeks ago i thought i was not doing that because it took so long for the selloff to come. i was positioned well for that. i did get to the market heavier on friday afternoon. i will do more of the same for today.

by tomorrow my positions backward want to have them. that's where you see that technical support. the fabrics that have 50 points. >> that's the key watching, the technical level. that's where i see supported on the pitch for a novel that i to live these things down. connell: went to a pitchfork honestly lost it. good to see you, sir. thanks for waking up early with us. lauren: pitchfork? connell: i don't know. listening, it could be a lot worse. as sarge rightly points out things are a little bit sloppy this morning. lauren: when is the selloff going to come question back a cane. also talking about the battle of the surveillance memos three days after the republicans released a document alleging

political bias of law enforced in. democrats want to counter with their own memo. the republican memo asserts the fbi mishandled the application for surveillance on a former trump adviser is via the bureau failed to disclose that was relying in part on research that was compiled by a british -- former british spy, christopher steel who was paid partly by democratic linked groups. connell: on the other side, democrats have been saying republicans just cherry pick the facts in order to discredit the russian investigation. >> it is really bad precedent and unprecedented to not tell a court that a source has this level of bias. look at just the disclosure of who paid for it. they could've easily said it was the dnc and hillary clinton. that would've been really easy. >> would you do oversight come

you haldeman underwrote then say why was this included, why was that included? the interest was a political hit job on the fbi in the service to the president. >> so far the house intelligence committee blocked the release of the democrats on memo, the so-called shift memo. they are supposed to considering not later on today. lauren: they have to go through the process. one city in california experimenting with universal basic income. connell: tracee carrasco is with us i'm not making headlines. >> this is happening in stockton, california. michael tubb says they will start with the x or amended the universal basic income in august. though the giving $500 to several low income residents to see what they do with the money. no questions asked, though, that they are funded by the economic security product who will be using this as an experiment to

gather data and see how the universal basic income works for the people and how it makes them feel what they spend the money on. they can do whatever they want. connell: the eagles get a nice cash prize for winning, but they have to pay, don't they? >> they do, but it's less than they would have had to pay under the previous tax code. the bonus of $112,000, that they are going to pay $41,000 in federal income taxes as opposed to 44. so they are saving a little bit of money there. they do have state taxes, which in minnesota is a pretty hefty state income tax will have to pay. it's always interesting to watch the price they. sometimes they like to go play taxes. the box office over the weekend, the rock is still dominating.

>> a little bit of a sluggish weekend because of the super bowl. here we have the top five, jumanji seven weeks at number one. $11 million they are. this was last week's number one film a $10.2 million. opening this weekend, the haunted house horror film, winchester 9.25 and rounded out the top five greatest showman and hostile spirit drink i heard the greater showman is great. i haven't seen any of them. lauren: jumanji, seven weeks at number one? we haven't seen that send i can't remember. titanic, night t. 98. connell: thank you, tracee. lauren, this conversation, can they get a deal on immigration reform? the winter olympics kick off later this week as kim jong un

said the delegation. big selloff on wall street. we are tracking global stock markets. asia mostly down. european stocks down right here. dow was down 131. ♪

connell: what's happening now. get too caught up with some headlines that the biggest of the bed should be the market this morning. the dow futures down by 129 points. s&p off by a. follow-up on friday reduced the red across the board on our screen following on morning on down 129 of the dow futures. in the meantime introducing an immigration bill ending the budget to republican senator john mccain and democrat chris coons unveiled a proposal that offers a path to citizenship for dreamers but it stopped short of funding the border wall. the government runs out of money as of friday and tied in a budget deal to a solution on immigration. north korea sending a high-ranking delegation to south korea this week with the winter olympics to improve some of the relations between those two countries that the trip is sparking speculation that direct

contacts between pyongyang and washington could possibly happen during the olympics. vice president pence heading over there for the games and he will represent the u.s. on friday. a south korean appeals court has handed a suspended jail sentence today to the saint-saëns air, the only son of saint-saëns still chairman sentenced to five years in prison after being convicted of bribery and other crimes linked to a political corruption scandal that took down a former south korean president for more lenient real surprise to many had expected a tougher stance in the appeals court. there is a look at what's happening now. >> president trump suspending his memo vindicates him in the russian investigation. democrat leaders they want the memo to be oblivious. the public is only getting a one-sided account here. michael starr hawkins, democratic strategist, former contributor to the as well as

john jordan, and former navy intelligence officer. good morning. >> good morning. lauren: michael, begin with you. you expect the memo to be released and should it be? >> i hope there will be. devin nunes when he released the republican memo was the equivalency of the prosecution giving their case about the defense giving their case and sending it to the jury. as a criminal defense attorney, and that is not how we get to the troops. i hope the response will be given, but more importantly i hope the ig report is that the american people will be given so they can pass all the partisan discussion and find out what was going on. >> is partisan to say the lead inevitably to the president basically said look at everything that's come forth. do you think the president has indicated the least in terms of collusion with russia?

>> there is enough daylight to go around for everybody here. democrats on the intelligence committee voted against other members of congress demanding his memo. it is just a first step. we need a lot of daylight what's going on with the fbi and doj and the democrat memo released for the republicans will support that but it has to the vetting and declassification process first. there's a lot of daylight, lot of things to run for cover. connell: there could be five more memos. >> i think all of the memos does a disservice to the american people because they have no idea what to believe and what to trust. institutions like the fbi, we have our own positions on jim comey were crisp resolution trust the fbi is doing a good job. lauren: that's unfortunate what's at stake here. i want to move on to another topic. a new bipartisan immigration

plan expected to be introduced today. they plan to unveil their bill that basically grants permanent legal status to dreamers and bolsters security for security along the border, but there is now talk of a law or money for the wall or anything to do a chain migration at the at the diversity. the president never support that? >> no, he would not. he laid down his marker and then the diversity lottery in the 25 billion in the trust funds that can be caught back by congress. the administration has been cleared and the american people are with them 70% on the chain migration. 69% wine into the diversity lottery. 54% on immigration to the 500% per year. they are at the president on the city say dennis marker.

>> 80% of americans also support the dreamers being codified in giving daca protection. we can toss around statistics but at the end of the day the u.s. government made a promise that they'll be protected protected if they came out of the shadows and is time for republicans and democrats together to figure out a way to work this out. there's been bipartisan proposals on both sides. connell: hope the government doesn't shut down. michael, john, thank you for waking up. connell: covered a lot of ground there. a moment of celebration in philly after the eagles fly into their first super bowl but to read ever? [cheers and applause] connell: back to minneapolis for the game was played. checking the newish aero and the futures this morning pointing

lower as stocks were lower in asia, lowering europe. we are alive for you in london. the global markets report with dow entries down 132 in the s&p up by seven. rack in a moment, "fbn:am." ♪ how do you win at business? stay at laquinta. where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com.

connell: we are back the morning after. whether players on both sidelines with stand for the national anthem and it turns out they did. lauren: cheryl casone live in

minneapolis air after the game. tell us more about that. we also want to know about the halftime show. how did jt do? >> i've got all that for you guys. that is the national anthem. the players in the patriots and eagles honor our nation's flag, honor our heroes in the country. they did announce a corset? no kneeling in now kneeling in now is a good moment of course kneeling in a sacred moment of cores per to world war ii veteran did a coin toss or that was amazing as well. and of course pink who is battling the flu but the national anthem. there was a really emotional strong moment at the beginning of the game. pretty exciting in the first half. the halftime show was pretty interesting because it was justin timberlake. a lot of speculation whether he was going to bring on janet jackson. he hasn't played a halftime show

since 2004 but justin timberlake came back a solo performance and of course the big prince tribute to listen to what jt did during the halftime show. ♪ and of course the big white sheet, which was more beautiful for viewers across the country, the image of france above him in the piano was a big moment in the city for minneapolis because he's a hometown hero in 2016 but i would die for you really was a crowd celebration. football fans don't get that into the halftime show. jt did it this year. in philadelphia this morning, of course the underdog eagles coming again into this game. they were not favored to win,

let's be honest. there was a big night for next fall so coors. the entire eagles franchise the city is celebrating party and non-night. patriots fans have got to set kind of outnumbered. the other one of course in philadelphia. so looting going on. philadelphia waking up with a little bit of a hangover i have to say. overall a big night for the city of brotherly love. >> state manager showing us pictures of her family party and in philadelphia. we heard the cops stopped putting crisco on the polls because it wasn't working. fans are still able to climb them. connell: how about that, congratulations. good stuff, cheryl.

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lauren: we continue to monitor the global selloff monday morning as stocks in asia and in europe still off on the back of the selloff friday.

china was up, but it seems like everything else was down today. what going on? >> everything else was down. people suggest there is an stay buying potentially involved in china's ability to shrug off the plunge globally across equity markets which he sighed very steep loss in japan, hong kong, south korea. some of that was after asian markets close the selloff on wall street really accelerated in some of that decline happened after european markets closed as well. pretty big drop in crude oil prices last week and that's had a pretty bad impact on energy giants across asia and europe this morning. train to put this in perspective. the market has come so far looking at the hang seng in hong kong. steep losses today at 9% this year. >> absolutely. lauren: is this the start of more selling? >> that the big question for a lot of people and what it will

really depend on is whether we actually see a meaningful pickup in inflation and pick up the scare as they pick up to better economic growth. billy not clear at this point but the earnings picture look supportive first docks. lauren: talk to me about bitcoin. >> a lot of regulatory worries that have been hurting prices. also one interesting development or colleagues noted over the weekend that you start to seep people take advantage of arbitrage opportunities because crypto currencies trade across so many exchanges around the world. a lot of high-frequency traders and hedge funds moving to take advantage of opportunities to buy low and sell higher. lauren: riva gold, thank you very much. good morning happy monday to maria bartiromo. train