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tv   FBN AM  FOX Business  February 27, 2018 5:00am-6:00am EST

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a june bug when he said that about chelsea clinton. that's it for us. thanks for being with us. >> goes across the board and it was a cyclical rally. it was industrials, transports on fire yesterday. lauren: stock surging ahead of the testimony this morning a new federal reserve chairman jerome powell. >> the dow shooting up 400 points helped by tech giants like amazon and netflix hit a new record. the dow and the s&p 3% for all-time highs. lauren: can the rally continue? you are not looking at the correct screen on pause ahead of what we are expecting from the
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new furniture. dream to in europe, stocks open higher in the wall street rally. jerome powell testimony this morning. lauren: japanese stocks gaining upper 1% and falling over 1%. tree into breaking overnight comcast is with $31 billion with the rival bid from 21st century fox. the details of that deal. "fbn:am" starts right now. lauren: 5:01 a.m. in new york february 27th and lauren simonetti. lea: i am lea gabrielle been for cheryl casone. lauren: a big day, said dave. jerome powell and the hot seat
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on capitol hill as he makes his first public comments about the economy and inflation is the federal reserve chairman. investors listening closely for any clues on whether the fed will raise interest rates more aggressively than the expected three times this year following the tax-cut plan and also budget spending. stocks rallied sharply yesterday ahead of day one of powell's testimony this morning. >> basically what we know is jay powell had no reason to push a more aggressive stance right now and i think that's very comforting to market watchers. train to powell's testimony will be released at 8:30 a.m. this morning. because it 10:00 a.m. eastern fox business will have live coverage of the question-and-answer portion of the testimony. lauren: stocks close higher ahead of this testimony. please scroll the prompter little bit more. investment advice or group joining us this morning.
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the monster rally we've been talking about yesterday. so close to where we wear, the record high. are we in the clear? do you think he doesn't want to rock the boat? >> i don't want to say jerome powell speaking as a nonevent, but i can't imagine him rocking the boat. it's important to remember about jerome powers is not a classically trained economist. he's an attorney and a thinker. so why he got the fed chair seat over some unlike john taylor from stanford is the regulatory environment is close crisis. they overreached in terms of their regulatory arms and what they've done is they've really stifle the flow of capital into the economy. jerome powell is in there to deconstruct that a little bit. rates rising is a necessarily going to slow down the economy
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until they get somewhere between eight and 10 basis points. lauren: want to did deconstruct or you've been saying. janet yellen intensive federal reserve and economic experience. yellen was often criticized particularly from republican lawmakers about how she responded to the crisis. do you expect lawmakers to start to real jay powell? >> i'm sure they are going to go after him. these things become increasingly partisan. it's just the environment we are in. however, he's ready for what is coming on him. he's been around the block on the federal reserve board for quite some time. i think why he's criticized for being political is a few days before the election, she's saying i'm not sure when the next great race is going to
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come. she raises 25 basis points and starts talking to abolish a reduction purchaser that not political is not true. lauren: he is known for is yes and no, short answer and sometimes i want a little bit more. we have the stock market higher across the board yesterday and quite honestly for the second session in a row closing at the height of fashion which is a good sign that technology made it big technology made it big, big, big comeback. amazon in particular we've been hearing this is th next company to hit the $1 trillion market value in the next 12 months. >> it's hard to trade the stock and added such a disruptive company in every business day attack. a logistical mastermind. they figure out how to get the product at the lowest cost and get it to the customer for almost nothing. i don't expect it to stop anytime soon.
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lauren: michael lee, thank you for joining us. appreciate it. lea: comcast offering $31 million for the rival bid for 21st century fox. after disney agreed to buy entertainment assets from fox including more than $52 billion. sky is very valuable piece for 21st century fox and disney deal. comcast come to some investors for a defending fox would need to raise the bid. shares of comcast are down more than 1% from a year ago and 21st century fox which is the parent company is to have more than 20% year-over-year. walt disney ceo is declining to comment on comcast bid. transfer the florida deputy has been heavily criticized for failing to enter stoneman douglas is defending his action. a lawyer said peterson did not
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go inside the high school because he believed the shooting was happening outside the building. i've seen upcoming peterson resigned last week after broward county sheriff scott israel accused him of failing to confront the shooter and suspending him without pay. lea: president trump telling governors they have to stand up to the nra. like berman has the story. >> resident charm prevailing in a bunch of the beacon with the head of the national rifle association. the president eating lunch with winlock hearing chris cox good monday morning the president met with 38 nation governors both republicans and democrats and told them they should push back against the nra but also have nothing to fear. >> don't worry about the nra. they are on our side. there's nothing to be afraid of. we have to fight them every once in a while. that's okay. >> the president have been vocal about raising the gun ownership
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to 21 years old. on friday the speech i see package on monday in front of the governors the president did not mention any age restriction. the white house insists the president has not done his position. >> to those who say he had lunch with the nra over the weekend, to the nra get a hold of him? >> we're talking specifically about implementation of what the process would look like, what specific pieces of legislation might look like and we haven't seen this yet would be premature to weigh in. the president is so supportive of the concept. reporter: check show on monday called for universal background check and a closing the gun show in internet sales loopholes. schumer saying in a statement if all congress does is respond to the park when shooting his past effects makes the outcome of the background check bill, it would be an abject failure in dereliction of our duty. the white house says the president does support
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strengthening the background check system but stop short of saying at this point to support universal background checks. back to you in new york. drink to the justice department and microsoft taking the fight over privacy to the supreme court had issued whether prosecutors can compel technology companies to hand over data stored overseas. the case began back in 2013 when prosecutors sought a warrant for e-mails of a suspect in a drug trafficking investigation. they were stored in a microsoft computer server in dublin. if you're from one country, you ask about where you can get the data from? lea: meanwhile, supreme court dealing a setback to trumps immigration policy on so-called dreamers. justices refusing to take up an appeal with a quick with a quick end to the above error programs protecting undocumented immigrants who came to the u.s.'s children. in a case that could weaken the
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finance and political clout of organized labor the conservative justices appeared to support stopping the ability to collect funds known as agency fees. these are these nonmembers are forced to pay annually to unions representing public employees. billions of dollars at stake for the union. lauren: for politics as we head towards the midterm. delta under fire after announcing that they would cut ties with the nra. tracee carrasco joins us more on that another headlines. good morning, tracee. >> good morning. fighting back with delta's decision to offer discounts to nra members. lieutenant governor casey cagle vowed to kill in a tax break for delta which is headquartered in atlanta unless the airline revived its discount program. in each week, corporations cannot attack conservatives and expect us not to fight back at the state house had approved a tax break that could provide a
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$40 million benefit to doubt that. meanwhile, fedex will continue offering discounts to nra members as calls for a boycott on social media. fedex has never set or changed rates for any millions of customers around the world in response to their politics, beliefs or positions on issues. fedex says that it doesn't agree necessarily with the nra's position on firearms that they will continue to support nra members. the political issue continues. the iphone 10 might be really old. >> we're always hearing rumors about the latest iphone. bloomberg reported that apple is preparing to release three new iphone's baseball including an iphone 10 plus with an updated version of the current iphone 10 in a less expensive model with some of the key features. apple reportedly considering a
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gold color option for the iphone 10 in the larger model as well as a sim card option for the larger model. the iphone's love in a gated operating system which will include augmented reality capabilities for integration as theory digital health monitoring and the ability to use the veggies in face time. true until i'm actually excited about this because i'm still hanging on to the iphone seven. that a single one of my buttons work anymore and it doesn't rain. lauren: would use this for? lea: the talks on the phone anymore. every johnny needs to chain him at least that's what our writer said yesterday. every johnny needs a walker. >> this is interesting. g.i. joe plans to rollout a female branded version of its johnny walker scotch college in walker, a move to win over female drinkers.
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jade walker, limited edition version of black label will go on sale starting next month and for the first time in more than a century, the iconic logo has been revamped to show a woman in boot tipping her heart. lea: i like it. this kind of marketing works. i remember when she did they spit they started putting attractive women in jeeps and all of a sudden everyone is buying jeeps. lauren: i can buy expensive whiskey, too. lea: coming up, marcus crowley is going to have heat for defrauding investors. we'll tell you how much. the southwest airlines flight catches fire just moments after taking off from salt lake city. we will tell you it happened. you are watching "fbn:am." ♪
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♪standin in the hall of fame >> good morning. welcome back. police in north carolina searching for a man they say is armed and dangerous following the deadly shooting. all of this card on facebook life. police say that robinson was
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filming his trip to report a cell phone when he was shot. police have identified douglas cleveland close and as the suspect in the shooting. turn to for more drug executive martin shkreli facing a stiffer sentence than he did. shkreli will be held responsible for $10 million in lawsuits when he sentenced next week for defrauding investors bid the amount of financial loss plays a major role in federal spending in guidelines. check this out. another fire on a flight. southwest airlines jet heading from salt lake city to los angeles for us to turn around and make an emergency landing after one of the engines caught fire moments after takeoff. a person on the ground helping to have flames out of 604. southwest: that's a performance issue with ben and jen. fortunately, no one was injured.
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>> that's a little performance issue on fire. president trump pushing for school safety of the gun control debate intensifies in the wake of the mass shooting. >> there's no bigger fan of the second amendment did me in no bigger fan of the nra. these guys are great people and they want to do something. don't worry about the nra. they are unnecessary. half of you are so afraid of the nra. there is nothing to be afraid of. >> justice that sometimes you have to break the nra. the founder and ceo of global strategy. a former republican new jersey state senator. nice to see about this morning. >> nice to see you. >> good morning. lea: they usually take a loose no ground approach for the president has proposed raising the minimum age to buy assault rifles to 21. with the nra consider budging?
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>> the knee-jerk reaction is always to prohibit guns or put additional prohibition on guns. imagine if we banned all gun sales today. how many people felt comfortable sending kids to school without metal detectors and armed police to protect them. this idea that we could put band-aids that will prevent future deaths is really a promise. when the nra is asking compromise, compromise. it's an even exchange. if you take something away from gun owners, what are you going to give gunowners? the nra is perfectly right to stand their ground on this. this is the constitution after all. >> the president has talked about arming futures. with the democrats position? >> at the most dangerous thing we could ever say is to arm
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teachers and think that is the answer to the crisis in this country when it comes to my shooting. but the nra wants in the american people want things to be two different things. in fact the numbers somewhere north of 65% is reasonable common sense generally firm laws of this country. most people agree if you have mental health issues you should not be able to likely have begun. most people agree we need comprehensive extensive background checks. most people agree that we need to ban bump stocks. most people agree, including myself who live through this that we need to close the loophole. if you're under the age of 21, there is no reason you should be able to purchase or assault rifle and quite frankly, why does anyone need an assault rifle, the same weapon used in this country. >> i want to bring a proposed legislation on the table right now because it's difficult to
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bring lawmakers to any sort of a consensus on this topic. let's talk about the background check. but the left in the right on this. you expect the legislation to get any traction? >> you know, people are okay with expanding background checks. there is no one on a battlefield using an aar 15. they are now completing different types of guns is not helpful. you need to get your facts together. >> i have a friend who has told me. lea: go ahead and respond to that. >> you can save a friend who's serving this country very well right now who's told me i think i'm coming military style style weapon that they are trained to use. i think you may have a different version of the facts. lea: i will jump in a since i
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served 12 years in the military when i was 18 and trained on a number of different weapons. it's different with the civilian version versus the military version. automatic versus automatic or that's a different debate. nice to see you. lauren: as ohio braces for even more rain, cincinnati reporting the rising floodwaters. >> my whole family gathered together and moved furniture out. they are watching the water come out. lauren: fox senior meteorologist janice dean has the web are forecasted that could be coming your way. we will be right back. ♪
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lea: week of heavy rain across the midwest has a cincinnati in a state of emergency as severe weather continues to cripple the city and the suburbs or the rain pushed the ohio river to its highest level in 21 years on sunday for saving thousands of residents to evacuate homes there. more rain could keep the floodwaters elevated throughout the week. lauren: more storms are taking the midwest. janice dean is here with the forecast. >> i can only get online. a quiet forecast for the most part. a system moving into southern california we are going to watch and flooding concerns across the ohio, tennessee and mississippi river valley. a quieter forecast with potential for more rain and flooding rainfall over the
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weekend. as a future wednesday into thursday. another one behind it. flash flood watches and warnings are posted and you can see the forecast rainfall in some cases several inches of rain over saturated realm. the theory we are concerned that this low heading into wednesday. severe threat including large hail, damaging winds and tornadoes. severe as they go through today and tomorrow. quick look at your forecast for the rest of today watching potential for rain across the mississippi river valley, ohio and tennessee river valley. we will monitor that is beginning to wednesday. trade to coming up, alerting all pet owners to more companies are the latest recall pet food with contamination concerns. and if you are a health nut and you also like beer, we would tell you about a new organic brew. stay with us.
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>> across the border was a cyclical rally with financials, industrials. lauren: breaking news. a monster rally on wall street with surging ahead of the testimony this morning. et cetera sure chair jerome powell. tragedy -- shooting a 400-point on its way back to losses earlier this month held by tech giants like amazon and netflix to new records. the dow and s&p is 3% an all-time high. trigger if you look at the dow futures this morning, and they are down 38 points to 1%. >> stocks open higher in the back of wall street's rally good to see if the higher by four in the dax is down by a. >> uncertainty ahead of what mr. powell will say.
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this is how stocks are three gondwana. gaining about one per 1% through shanghai composite and china declining about one part 1%. we are going to tell you where you can celebrate the market rally for some free pancakes. "fbn:am" starts right now. lauren: just after 5:38 a.m. i'm lauren simonetti. lea: good morning. i am lea gabrielle. happy national pancake day to you. lauren: is tomorrow? every day is something day. lea: maybe waffle day. in response to the florida school shooting, he said he
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would run as a children either the pentagon. the bold statement as called for the broward county sheriff to resign. following the story live from washington d.c. more on this group needs surrounding the first responders in this terrible shooting. good morning. >> good morning. there is a lot of scrutiny going on. the way the deputies performed was a disgrace, disgusting in fact is how he described a paid the the actions of the shared deputies who stayed outside of the stone and douglas school while and douglas school while inside a guy name is on a rampage killing 17 students and teachers. the president explained how you would react to the shooting. >> i really believe you don't know until you test it, but i think i'd run it even if i didn't have a weapon and i think most of the people in this room would've done that, too. >> investigation of all agencies that responded to the shooting.
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scott israel to resign. his office is also accused of blocking paramedic century to treat the terms because it was unknown. >> what we have here is a run agency. every single person under investigation with the people just investigate for wrongdoing buddies that none. >> scott peterson from the school armed deputy resigned after coming under criticism for failing to run into the building to stop the shooter in response. his attorney issued a statement. mr. peterson wishes that he could have prevented the untimely attack even of the victims in his heart goes out during that time of need. however, the allegations that mr. peterson was a coward are untrue. the sheriff's office is one of several agencies taking heat for missing warning signs about the
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shooter's mental health all throughout many months and they never followed up on that. we will follow developments of the story. a lot of follow taking place. trade jewish areas. thank you, kelly wright. lauren: moving on. attention pet owners. two more companies are recalling dog food over concerns of contamination. lea: tracee carrasco joins us with that in another headlines. good morning. >> good morning. the truetype brand recalling it crunchy beef delight treats after salmonella was found in a sample. there is a sample in your screen right there in recalling its five-pound bags of frozen chicken and salmon after listeria was found in a sample. if you have either of these take it back to where you got it. they play it. thankfully no pets have gotten sick units because that can be pretty dangerous if they do. lauren: michelob vulture has
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gone organic. you're already drinking beer. this is called michelob vulture pierpont made with organic grains and artificial color or flavoring. debeers and everyone else in other drinkers were more careful about ingredients in a food but still wanted low-calorie, low-carb. pricier than the regular of the global church available in stores now. places like whole foods habit which is interesting. are you really thinking about ingredients? >> if you're going to drink a, pick a you like it and just drink it. >> its national pancake day. where can we get it? >> and did you -- i help them a free pancakes from 7:00 a.m. to 7:00 p.m.
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we are a little early but we can line up after the show. 7:00 a.m. to 7:00 p.m. you can get one free short stack buttermilk pancake today. they've also turned it into a charitable cause. if you are feeling generous, you can give a donation. ihop will donate to children's hospitals and other local organizations. they raised about $3 million on this national pancake day. tracee carrasco came through with us this morning. jerome powell in the hot seat. we can take a look at how higher interest rates can protect the market. the latest in a battle between
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roger caddell and dallas cowboys owner jerry jones. delete now wants the cowboys to pay them. jared max coming up with your sports highlights. we will be right back. ♪ you totaled your brand new car. nobody's hurt, but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do? drive three-quarters of a car? now if you had liberty mutual new car replacement™, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement™, we'll replace the full value of your car. liberty stands with you™. liberty mutual insurance.
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lea: welcome back to the skate shoe caught up in what's happening now. south korean prosecutors seeking a 30 year prison sentence in what would be a landmark corruption case. being tried for bribery and abuse of power charges following massive protests that is removed from office and arrested last march. the white house calling for an immediate end to offensive operations in syria by the al-assad regime. more than 500 people been killed since last week in rebel held area with an attack with poisonous gas. sarah huckabee sanders says syria is terrorizing hundreds of thousands of civilians. white house communications are expected to appear before the house intelligence committee later this morning. the closer an overlooked concern russian interference in the 2016 election and consider one of the president's closest confidant. that is what is happening now.
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lauren: thanks, lea britta questioned a banana skin is how higher interest rates are affecting equity markets in the housing market. pwc partner mr. shell to talk about this. thanks for getting up with us. >> good morning, lauren. lauren: we had stocks of three days in a row for the dow, s&p and interest rates came down for three days in a row. it went down for three days in a row. so that proves just how sensitive the market is to the rising rate. >> it used to the roller coaster of interest rates going up, and we will see a lot of that throughout the year ahead. >> if you look at the rate jay shaft for .3% for folks going to buy a home, this is a number that has continued to grow up in we hear from mr. powell today, perhaps a signal if we get three hikes in 2018 or maybe four.
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but it got cut to do with what the fed does today to the housing markets? >> this is correlation between the 10 year treasury and mortgage rates. so clearly folks looking at buying a home or even refinancing their home will have to sort of pay attention not just to today insurance house testimony, but the fact of the matter is what is going on in the housing market right now is more a function of very low supply which is driving up prices and that is really creating more havoc in the housing market right now than interest rates alone. >> affordability is the headwind is your point of view. >> no question about it. first and foremost suppliers of houses on the marketing people want to buy them, they just keep driving prices up comment cheapening attention the wallet. >> district perspective buyers especially those who don't have the cash or equity for older people would have.
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do you think sbc rates and mortgage rates go up that people said was getting before you see that uptake. >> you will have been and we are entering into march, the home buying season will start producing, which is the spring, early summer. i'm concerned about the very low supply. less than four months supply of existing homes, even if there is a flood of people putting homes on the market come is still not going to be enough to meet the demand and that will keep driving prices up. i'm a little less worried about blood by half a point to new on interest rates to chill the housing market as i am what will happen if prices continue to go up because of a lack of supply. >> or home builders not building enough? people say they are building but not for the first time home buyer. is that what she see? >> is some truth to that.
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when prices have gone up from a lumber prices have gone out. more importantly labor prices have gone out. the margins for homebuilders just unfair across the price spectrum from first-time home buyer product to luxury product. as they travel the country and talk to a lot of people in the home building market, they are very, very concerned about the lack of skilled labor to build those homes. that is the biggest structural challenge right now. lauren: as you're speaking, lumber prices have gone up and wages have gone out. this is inflation. this is what the fed has to combat and has the stock market very worried. >> inflation is the thing that is watched. you saw what happened to the market last month when the cpi number came out. futures were up 200 pin in the cpi number came up hotter than expected, there is a 500-point swing in the futures. interestingly enough, the market closed up that day.
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investors are looking very closely at what happens with inflation. >> thank you so much. i just want to let our viewers know as much as speaking the dow was almost positive in the futures market. >> coming up in stores co. mayo saw the bitter feud between nfl commissioner roger goodell and cowboys owner jerry jones was over. it is not. let me tell you why the nfl wants the cowboys to pay up. in the gloomy market catches fire after the wall street go for a global markets report. you are watching "fbn:am." ♪
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lauren: alright, time to play the feud. jared max has the latest episode between nfl commissioner versus dallas cowboys owner. >> yes. here we are with the feud. 100 people assert top two answers on the board. name something jerry jones had to listen expected punishment. the number two answers because jerry jones was his opinion poker last year. he did not believe ezequiel elliott should be as in six games games for domestic violence matter. number one answer why the nfl will breathe portably paid jerry jones up to $2 million plus compensation because he tried to derail the commissioners contract extension. the reimbursement costs sent to cover legal costs the compensation committee incurred while defending itself. goodell consulted with honors. third -ranked duke goes on against virginia tech. grayson allen made a
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questionable play. he went to take another player from the virginia tech student section. they started cursing at the senior guard and then the crowd got admonished by the virginia tech head coach buzz williams who tells him to quit cussing. quit cussing and don't throw anything on the floor. he scores the go-ahead tip in with four seconds left as he beats duke by one point. after the nba season, lebron james expected to opt-out of his contract with a massive free-agent outside of cleveland. right now into downtown on ice for 83 billboards are not monday paid for by the philadelphia business owner who wants lebron to join the 76ers. to instantly play the cat in cleveland. anthony davis of the northern pelicans went wild last night scoring 53 points and 18
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rebounds, five blocks. new orleans beat the phoenix suns. rockets by the way of a 13 game win streak. across the street from the studio is the nhl storm or consumers will likely be able to purchase new york rangers merchandise for this guy. ryan mcdonough at highly discounted price. this is because the rangers captain and popular player was treated yesterday. rangers completed a fire sale to the tampa bay lightning. the san jose sharks have indicated hostile neighbors to win. look who was taking batting practice yesterday. yankees spring training in tampa florida. russell wilson is now a member of the new york yankees for the yankees made a trade to texas rangers to get russell wilson progressive wilson played for the colorado rockies organization in 2010 cagle 2011. this is not quite like the 10 tivo deal but he was singing awake with aaron judge and giancarlo standing. the guy has six homers.
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joe just an issue at the shoulder coming back from shoulder surgery probably won't be ready for a hundred% until the start of the season. lea: garrett, likely these are great sport suggested that an suggested that unsubsidized miss getting to talk to you about the winter olympics which i love. i heard you, lauren, yesterday. i want to talk about -- i figure skated growing up. i didn't realize until i saw garrett standing there to greet him when he came off the ice that adam griffin went out there and skated his heart out and he took the olympic experience in a way that those olympian should do when i was just so proud to see that and i loved it. and i love snowboarding and skiing and i love it all. >> snowboarding across the nation should be a professional sport. you have people break their neck of the time the premise that cedar point, wow. lea: i agree. we are having to wrap.
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we can't talk about this anymore. we are done. lauren: ketch garrett sports reports headlines 20 for seven on sirius xm channel 115. lea: stocks in europe are mixed ahead of jerome powell. a live report for monday straightahead on "fbn:am." stay with us, guys. ♪
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♪livin in this crazy world ♪so caught up in the confusion♪ ♪nothin' is makin' sense ♪for me and you ♪maybe we can find a way ♪there's got to be solutions ♪how to make a brighter day ♪what do we do? ♪we've got to give a little love♪ ♪have a little hope ♪make this world a little better♪ ♪try a little more ♪harder than before
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lea: european stocks are trading ahead of fed chairman jay powell's congressional testimony. josh amami market and amami market and also by jan london joins us now. good morning, josh. investors are taking a wait-and-see approach this morning, right? >> yeah, it's exactly that. you'd think i'm enough of the back of a 400-point rally for the value of the europeans pushing higher but we have a wait-and-see approach because essentially in the wake of yesterday maria druggy speech where switching to the u.s. in trying to understand exactly what he's saying for his leadership of the fed. the u.s. made beyond a news of higher trajectory growth path if you see other members in particular powell, talking about
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the fact that growth might be higher they have to raise rates at higher rates. that tends to have a big impact on the stock market appeared at the moment you see the da ex-lover, ftse 100 marching higher and really pretty much flat across the board in europe. lauren: flatlining. you are standing in london and you are very concerned about what is happening with her central bank and monetary policy over here, which we love, by the way. it begs the question covers the u.s. always going to be the dog in europe always going to be the tail? >> well, to some extent obviously when you look at the effects market is always the case of honest trading against the u.s. dollar so that will be a real key when you see a strong euro, strong pound that the detriment to localize stocks as well. that's why it's so important was happening in the u.s. lauren: thank you. lea: thank you for joining us on
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"fbn:am." morning took murray starts now. maria: happy tuesday. thank you so much. i am maria bartiromo. thanks for joining us this tuesday morning. tuesday, figure 27. 6:00 a.m. on the east coast, the rally rolls on. the dow closed higher for the third day in a row of nearly 400 points at the closed 1.5% this morning. features back this morning about the fractional losses the fractional loss is underway. dow industrials tumble down just a fraction. investors waiting on jay powell. newly minted federal reserve chairman jay powell prepares to testify since taking over for janet yellen. he will take questions from the house financial committee at 10:00 a.m. eastern. tomorrow he speaks the senate banking committee. we'll take you live this morning. mix performances mostly to the downside. ft 100 done a fraction. but all very close to the flatline. asia overnight stocks end mostly lower with the exception of japan off better than 1%.
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comcast making an offer overnight. bidding nearly $31 billion for british broadcasters sky. higher than a rival proposal for 21st century fox. we break down this dusted off for what it could mean for the view with disney coming out. fox continued to acquire skype and comcast comes in. battle over the nra. georgia vows to block tax breaks for delta after severed ties with the organization. fedex a few discounts for members despite calling for a boycott as president trump slammed first responders to the tragic shooting of florida calling them cowards come as saying that he would've taken action if you were their position. >> you know, you don't know until you test it, but i really believe i'd run and even if i didn't have a weapon and most of the people would've done that, too. because i know most of you.

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