tv FBN AM FOX Business March 13, 2018 5:00am-6:01am EDT
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>> china should not be stealing intellectual property technology they go to places like silicon valley with american dollars and they buy up starter company is on cutting edge. lauren: those views on china's stealing u.s. technology seekers were behind the decision last night to kill abroad comes $117 million deal to qualcomm come the largest textile lover, but it would've given a leg up in the tech or trade. trade to merck is watching that today printed out the breaker winning streak followed 157. the focus back on inflation.
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cpi coming out turning to the artists are watching the cpi data with the site gave in london and the cac up half of 1%. lauren: makes america's commission paves make a kitty half of 1%. lauren: it appears goldman sachs might have a new ceo. will he give up his night job as a dj? true in seven starts right now. cheryl: 501 a linear or tuesday, march 13th to cheryl casone. lauren: in lauren simonetti. thank you for joining us. cheryl: we are going to have a lot more detail on that.
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we are going to talk about that later on. the breaking news overnight. president trump has blocked broad comes paid to acquire qualcomm amid concerns that the relationship with china. trump issuing a statement saying there is credible evidence that is leaving you to believe that broad come might take action that threatens to impair the national security of the united states. lauren: responded with its own statement that they strongly disagree that erases any national security issues. qualcomm working on its wireless technology known as 5g so that is the concern that stock is down. broadcom shares rose 1%. cheryl: we've got a guest coming
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up in the show. debate over the steel and aluminum tariffs. gop leaders trying to work out differences for president trump without legislation. lauren: some republican lawmakers appear open. adam shapiro in washington. >> good morning. there is opposition to the tariffs on steel and aluminum on capitol hill, but very little congress can do quickly to stop them. my clique on the senator from utah has legislation that would give the final authority on these tariffs but there is opposition to actually passing a law or at least into law. here is what kevin mccthy said abo theikelihood o anything happening. >> i do not think i would pass. you have to he both parties. i don't think that will happen. reporter: you have people like ron desantis from florida who
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think the tariffs will give leveraging renegotiation of nafta. >> in terms of nafta there may be ways where they will use it to spread along and if they can get an agreement that will open up markets for us. that will be a win. if this is something the president is very much engaged in. he cares a lot about it and its goal is to get better deals for the united states. reporter: the senator from arizona, jeff flake calls these tariffs poisoned. protectionism and insurgency will lead to trade worth which are now one, only loss. the ability to pass legislation essentially having the president give authority back to congress. no one expects that to happen anytime soon. cheryl: a crucial election from pennsylvania today as voters had
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to choose their representative in a tight race expected between the mix saccone and conor lamb in a special congressional election. polls open from 7:00 a.m. to 8:00 p.m. lauren: mike pence on hannity last night explaining the importance of pennsylvania's election. >> that election is more about the direction of the country. lauren: lou dobbs will have our coverage tonight starting at 7:00 eastern time and we will have a live report from pennsylvania a few moments from now. cheryl: drop boxes. have to make a stock market debut is one of the largest tech ipos in recent years. lauren: tracee carrasco joins us with more on that another headlines. tracee pretty in pink. >> here i am.
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dropbox hoping for an ipo 36 chairs with the value of $70 billion. this is well below the $10 billion valuation the company previously had in a private fund. paperwork filed yesterday, dropbox expects the shares to be $16 to $18. lauren: apple is buying into the magazine business. is this about their services industry? >> that's exactly what it's about. it's digital magazine subscription service texture which bundles together 200 magazine subscriptions into one monthly surveys. the acquisition comes as they try to ramp up the services business which includes apple music in the apple store. apple service business grew more than 20% last year. cheryl: but this is a consumer play. if people don't go to the newsstand and buy a magazine.
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we are here with the potential goldman sachs ceo has another job on the side. >> has paid the replacement of lloyd banks nine. when he is not committee moonlights as a dj. he can be seen next in electronic music at nightclubs in new york, miami and the bahamas and cjd soul. check it out. ♪ i love it. i want to buy my birthday party. his competition for the top job announced yesterday that he will retire next month for the number two he shared. lauren: he's well-rounded. i think it's great.
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cheryl: i think it's great, and for goldman sachs two. this is the most buy the book investment bank and they've got a dj running it. pretty cool. lauren: he actually stands, i don't know if that's the right word, at three hot clubs. >> he goes to cooler places than i do. lauren: coming up, there she goes again. hillary clinton slamming president trump in india. >> his whole campaign, make america great again is looking backwards. lauren: we'll look forward on what that could mean. he wants to be the border wall prototype and money for gop. you are watching "fbn:am." ♪ alerts -- wouldn't you like one from the market
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lauren: let's get you caught up in what's happening now. jim madison in afghanistan on an unannounced trip to arise peace talks with the taliban. bringing them to the negotiating table is key to winning conflict. victor is still possible saying both sides are tired of the fighting. president trump making his first visit to california as president
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today. the visit will include a tour of the state's border with mexico with the president getting his first luck a border wall prototypes. to give a speech in san diego at 5:00 p.m. eastern. "fbn:am" will have live coverage to tune in. republicans on the house intelligence committee closing their investigation into the trump campaign. concluding there was no collusion. president trump tweeting that the gop fighting -- do we have that for you guys? the house intelligence committee after 14 months on in-depth investigation found no evidence of collusion or coordination between the trump campaign in russia to influence the 2015 presidential elections. all in caps. criticizing a report saying they have not been given a copy. hillary clinton going halfway around the world to criticize president trump. the u.s. didn't deserve him.
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>> i won the places that represent two thirds of america's gross domestic product. [applause] so i went to places that are optimistic, diverse, dynamic, moving forward in his whole campaign can i make america great again was looking backwards. lauren: but she's not looking forward. she called the presidential race the first reality tv campaign. cheryl: she's making a lot of money overseas. president trump blocking broadcom stating national security concern. had the technology research at gbm sites. while cohen. >> thank you. cheryl: at first blush it looks like some move against china.
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broad can't concern was going to weekend qualcomm r&d into 5g technology. really just a bad back there when it came to this merger. do you think that is the reason that committee voted against it? >> qualcomm and their r&d is really what the golden show within the united states, especially around 5g. you gave broadcom cost cutting, especially at r&d in china go in that you could say five, 10 years or not china who essentially owned 5g. they did not go about this the right way trying to accelerate headquarters to the united states and ultimately ruffled the feathers of the government and set off a lot of red flags.
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cheryl: that's what happened. treasury secretary stephen mnuchin when asked about this that we will do this on case by case. that's what the president has to use to block the deal. this is very rare in this is something they plan to do often, but it was to steal the bother them because of a particular this could open up the chinese to advance technology quicker than ours. let me ask you about the issue of the committee itself because they were very clear that they felt the hostile takeover was an impetus to make the move now rather than later. what do you make of that? >> it was definitely around the hostile takeover. time was ticking. the shareholder meetings next month you had broadcom board members tried to get on. the trump administration realize you really had a window of opportunity where they need to
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either put this away or let it fester. the nature of the hostile takeover in the way the broadcom went around it, that is going to set off some of the slaves here. it all comes down to this getting done. with qualcomm shares today, it was a gut punch because there was hope after the shareholder meeting they would get to the table and negotiate and this is really a situation they need to act now if they were going to do this. cheryl: to stock is down 5% on the free market. i can't help but think this'll be good for intel. the two stocks today would be qualcomm in intel. agree or disagree? >> qualcomm was popping the champagne last night when the steel came out. it's going to be a never slight uphill battle on a standalone
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basis. cheryl: income up 1% and the free market. the champagne is out. appreciate it. lauren: coming up, new york city may be through the worst from their easter number three, but new england is likely to get slammed once again. >> and getting very tired of it as i imagine everybody else's. >> the last time with the winds that we are just hope we don't get crushed by snow. lauren: meteorologist janice dean has the storm tracker for you. then maybe we can get spring. cheryl: nat, it's not coming. never going to happen. ♪
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cheryl: the snow from last week's term is barely melted in the north east is raking for yet another nor'easter, the third in 11 days. you laugh, but it's just not fun anymore. major airlines waving rescheduling phase of a dozen airports or pennsylvania across new england. american community, jetblue, delta. airlines giving passengers a break that include all major areas. jfk, la guardia, newark and philadelphia. lauren: i'm just over it. things come in threes so maybe this is done. 1600 flights have been canceled and hundreds more delayed today. encouraging you if you are traveling, check throughout the day for updates. the latest on the storm's path with fox meteorologist janice
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dean. >> how about we arrest the groundhog. let's take a look at current temperature is right now because it's cold enough for snow. snow flurry of dignity. 32 in raleigh. 36 in charleston. we saw some snow in the d.c. area and on the storm is becoming an eraser that will dump a lot of snow across who would win. we are seeing snow flurries across new york and long island, parts of jersey. winter storm warnings in effect for the areas you see in pink and blizzard warnings for coastal massachusetts after his coastal maine because the criteria of 35-mile per hour winds with reduced visibility a quarter of a mile or less. it's going to be with us especially throughout the evening into the overnight. that is going to be the big jack
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pot of not only snow but wins. new england are bracing for this one and we will certainly keep you up to date. next week is spring so hopefully someone will listen. lauren: hopefully jms, thank you so much. cheryl: a lot more coming up. students were showing no mercy. treasury secretary stephen mnuchin and, they heckled him during his speech. >> all the sanctions out of the treasury department. we shouldn't have any sanctions. you're okay with everything going on in the world, you want to hiss about my sanctions? how the secretary handled those students coming on. the special election today. according to the vice president, everything. we are live in pennsylvania.
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we had a loss yesterday. 60 in the premarket s&p higher as well. you are watching "fbn:am." ♪ doing here? we've been helping you prepare and invest for retirement since day one. why would we leave now? because i'm retired now. so? we're voya. we stay with you to and through retirement... with solutions to help provide income throughout. so you'll still be here to help me make smart choices? well, with your finances that is. we had nothing to do with that, uh, tie. or the suit. or the shirt. voya. helping you to and through retirement. this is a tomato you can track from farm, to pot, to jar, to table. and serve with confidence that it's safe. this is a diamond you can follow from mine to finger,
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>> conor lamb for health care and education. >> of voting for conor lampert unconservative. trades are a crucial election today. industry president trump carried by nearly 20 points. trigger the dow broke a two-day winning streak off 157 points. today the focus back on inflation but the latest inflation data. down 62. nasdaq up for eight days in a row getting eight points this
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morning. cheryl: investors are eyeing the u.s. inflation data when it comes out. stocks opening slightly better and the foot the cac of the green. lauren: the nikkei in japan getting two thirds 1% for the shanghai composite lost after 1%. cheryl: constant pacing and shouting. stephen mnuchin being heckled mercilessly. how the secretary responded. "fbn:am" continues right now. lauren: it is almost 530 in new york on march 13th paradigm lauren simonetti. cheryl: good morning. i'm cheryl casone. western pennsylvania turning into a crucial political battleground as voters head to the pool to choose their representatives. a tight race expected between republican rick saccone and connor land in the special
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congressional election. lauren: eric shawn live just an hour and a half before the polls officially opened. >> is right, lauren. high commissioner appear they will open in the building behind me in lebanon where the snow is just beginning to fall. we'll have to see how that affects the turnout. the big question will be the white working-class voters who abandoned hillary clinton returned to democrats or republicans in the nation. the 32-year-old ivy league conor lamm, former marine prosecutor against state representative rick saccone pitching for the heavy leg unionized workers here. those are the so-called reagan democrats who announced president trump. he's a moderate who's been hammering away at the issue of union pensions and social security and maintaining medicare. he wants to dump nancy pelosi so is not a progressive leftists
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that are. he's also pitching for the union vote. but after liberals saying they have to quit hatred for the country natured for god it is aligned with president trump. lamb has said he is not running against the president. >> this is a time in her country where the most important promises seem to be up for grabs. it's all organized labor. it's the pensions many labor unions and it's also things like social security and medicare that apply to every american. >> union leadership has put out that misinformation over and over. this is the same leadership who was trying to kill the bot coal miners and hillary clinton. reporter: while saccone has been focusing on the economic agenda coming yesterday he toured a chocolate candy factory with his son, donald junior. they had to wear those funny
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hats. you can have the hair falling into the chocolate to matter who you are. the president's son does not think the local races really a referendum on his father's tenure. >> is doing a great job and he will put forth the thing my father's doing. a real conservative to help push through this agenda. the poll closed by 8:00. by the way, ironically the district disappears because of redistricting so they may have to do this all over again in a few months. back to you. lauren: so we hear. eric shawn, thank you very much. mike pence arguing more than what don junior said including the president's entire agenda. >> the only thing at stake is everything. if you like the growing economy, a president rebuilding america, fighting for a free, fair and
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reciprocal trade, pointing to conservatives to the court, what will happen in pennsylvania 18 is about more than the two candidates on the ballot in the fall elections just the same. lauren: carried away in his robin biro and chairman of the committee to defend the president, ted harvey. good morning. >> good morning. >> good morning to you. lauren: you just heard from the vice president. why is the special election everything? why is this so important? >> well, it's an important election because it's a midterm election. they are doing everything they can to say that moment to move into november and republicans are trying to say the referendum on nancy pelosi and the radical left and control would be in control of congress of congress went to the majority democrats. everybody is trying to make this a national election in its import moving into november.
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lauren: rabin, the president gave connor land a nickname. lambda sham. is this guy you vent democratic? he is aligning with the president on so many things. is this the democrat strategy going into november? >> you are asking the right guy because after having been on the show so many times i'm pretty much a moderate democrat. this is a democrat that i really like because he is bucky nancy pelosi. he's doing right by the people of the district, talking about the local issues. not just towing the party line. he is saying what he can do to work across the aisle, why donald trump is calling managed in is because what we've seen from either the candidate is that they didn't deliver on those promises once they were alike did. i appreciate the message lamb
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had. i want to see if he gets elected if he follows through because i supported and meyer the way he's running the campaign because the dnc outsiders are winning these elections right now. lauren: there is momentum in their favor. we've seen that in other elections as well. it is just that the parents and who is cited in the is getting interesting. this quote from pittsburgh's liberal newspaper as, actually backing the republican candidate hussein if mr. lamb wednesday to be the start of the democratic wave. the prospect of a democratic housemaid partisan might be bad for the country. democrats in the house of one agenda at the moment but it isn't health care or jobs. it is impeachment. ted, is that a distraction?
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>> no comments exactly right. they are raising money and the fact they want to impeach the president. the reason why lamb is running as a moderate is because trump on the district by 20%. but the voters in the district me to understand if lamb wins the race he's going to be voting with nancy pelosi and the radical left and has taken over the party. the whole country needs to understand how important this is moving forward. lauren: neither candidate in the special election spoke about impeaching the president. hatred of trump. that is true. thank you so much. good to see you. cheryl: twitter looking to give everyone the blue checkmark next to their name. lauren: tracee carrasco has that story and the other headlines. how do you get it? >> good morning to the blue
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checkmark meaning someone is verified kaposi with celebrities, politicians, the twitter wants to expand that and give it to everyone. ceo jack dorsey said that the intention is to open verification to everyone and do it in a way that is scalable so were not in the way of people can verify more facts about themselves and we don't have to be the judge and apply any basis. this is a good idea because we've seen issues with trying to figure out if someone is real or not. this might be a way to help figure that out. twitter not saying exactly when they would do it or how, but this is just an idea they look at right now. lauren: general electric is snubbing their top bosses -- bosses with their bonuses. >> ge didn't pay a bonus to its top executives, which is the first time in the 125 year history. they were canceled from 2015.
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executives would've probably gotten because of the country struggle. ge was changing its executive compensation program for 2018 getting rid of a long-term cash incentive program and lowering the amount paid to ceo john flannery. cheryl: they've got to do something. that was a close last night and it's down in the premarket. we are seeing video of stephen mnuchin ucla talk pretty bad. >> this is almost video we did not see the moderated talk with treasury secretary stephen mnuchin has been released and shows nonstop heckling. audience members has seen and shouting in president trump passed the legislation. look at it.
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the [shouting] >> i believe three women had to be removed by police. they said mnuchin subsequently with drew it to be online. that drew criticism from students, free-speech groups and members of the media so they have just released it. cheryl: i was really hard to hear what she was saying, what protesters are trying to tell them. tread on trent >> comments about the u.s. and north korea and president trump attacking legislation. it was hard to hear exactly what they were saying. it seems like their message is missed. cheryl: it was lost with the screaming. lauren: that is california. the president is there today. thanks, tracee. we have an intense manhunt underway after deadly package bombs. how the killer carried out these attacks. how concerns over trade war in inflation could affect u.s. stock trading.
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jonathan hoenig visiting us in just a little bit. we will be right back. ♪ 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.
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all victims were hurt or killed by an exploding package left on the front porch. a 17-year-old boy and 39-year-old man were both killed in the 75 of 11 critically injured after the package exploded in her arms. police have not ruled out the possibility of the hate crime considering all for the dems are minorities. secretary of state rex tillerson says the u.s. is averaged by the poisoning in the u.k. adding that the nerve agent clearly came from russia. theresa may has given the kremlin 24 hours to explain how the military poison ended at being used in that attack. shocking video just released shows a member of the crips gang attacking the witness in a salt lake city courtroom in 2014. he lunges at the shackled witness before being shot dead by police. all of a sudden folding in a
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courtroom. lauren: despite the recent volatility we've seen come investors remain mostly bullish on the stock of a field in part by the upbeat jobs report on friday, but with the trade war brewing in signs of rising inflation, how long is it before sentiment is reversed? jonathan hoenig at capitalistpig.com. >> great to be with you, thank you. lauren: potential trade war brewing, and caterpillar and boeing were done the most yesterday really impacting the doubt. >> nothing has seemed to stock the market for the better part of 10 years. it doesn't seem to at least when it comes to the nasdaq in technology stocks, another all-time new. there is reason for the concerns. we haven't seen inflation in this country for the better part of 30 years. you have got to the potential trade war that could be brewing with a lot of european countries
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promising rehab -- damaging trade tariffs against the u.s. they'll be negative for the economy. lauren: larry kudlow and steve moore road basically saying that this notion that wages can't go out then we can have inflation and we can also grow the economy at the same time. do you think you can do both of those at the same time and have a trade war? >> we don't want any of that. for me that is the bigger concern been a trade war. i don't think the trade war goes very far. but that the bush example from 2002. a couple months into it they realize the trade war was costing jobs. what worries me is about inflationary starting to see the jobs number at eight or to this morning with upward momentum on
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wages. lauren: inflation. >> i'm sorry, upward pressure on income will push inflation that. as i said, the best part of a couple decades, and this is something today's investors are right about. larry kudlow seems to be the front runner and i think would be a real positive. lauren: he is free trade, though. what about navarro who was not? >> that's a worry. there's a real misconception about the benefit of trade in this country come even among a lot of supposedly conservative right wingers. they think trade is somehow bad or distract it. just the opposite is true. a lot of the trade with china is one of the reasons they've been kept so low so long in this country. lauren: a result of dodd-frank, we are starting to see the big public companies telling you are ceo makes this much money and now we know what her coworkers
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make. we heard from a big bank, bank of america. the average employee, $87,000. >> amy's birthday. this is a big thing. lauren: don't think anyone's going to be annoyed about this? >> a good ceo is worth that money and a lot more. average workers are important. not everyone can be a ceo. this is a big thing after dodd-frank. isn't it outrageous the ceos make more than the average worker. if people don't want to support it, sell the stock. cheryl: you heard it here. jonathan hoenig, thank you. coming up, a comeback for him than for one broadcaster. tiger woods turned into ratings gold on sunday. jared max has the numbers. it is march madness and you are not going to believe how much
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better they are expected to pony up on the tournament. here's a hint hint. it is a lot. you are watching "fbn:am." ♪ today, innovation in the finger lakes is helping build the new new york. once home to the world's image center, new york state is now a leader in optics, photonics and imaging. fueled by strong university partnerships,
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cheryl: okay, so march madness is here and matt money is about to get thrown around all turning them on. over $10 billion in bets will be wagered on ncaa games for this tournament. the estimate also says 90% of the bad will be placed illegally and $300 million expected to go through legal books. lauren: vegas, baby.
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a lot with determinate, we had the nfl free-agent frenzy this week. cheryl: gerund max braking all bad news. a lot of movement there. >> good morning cheryl, lauren. the man who threw the minneapolis miracle, the nfc championship will reportedly signed a contract with the denver broncos. they will become the fourth team in five seasons. good saints legend, drew brees be? vikings have called to inquire about the potential interest in moving minnesota order back to the vikings. the unrestricted free agent has played 12 seasons there. kirk cozens wrote a thank you letter on his website to the redskins and their fans to stay thank you for the last six years and it comes for the first time in 11 years that i don't participate in choosing where i
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play. i would not trade the past decade for anything. likely the vikings were the cardinals. not only did tiger woods lower his odd to lower the master, now the odds-on favorite to win the arnold palmer invitational. between six and seven to one. next closest favorite 12 to one, jason bay. sunday's final round at the valves are creating golf broadcast that is not a major tournament since the 23rd team players championship. onto the bracket. tonight coming to games, two more tomorrow. they will place top seed villanova. that winner gets the florida gators. while tiger woods stole the tv ratings in sunday sports can ncaa selection in its new show down 52% in one year. the lowest rated ncaa selection
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show ever beaten sunday sports by golf, nascar in the nba. uconn huskies had their site that on the fifth title in six years. uconn number one overall. other top seeds notre dame, louisville, mississippi state. venus and serena last night heard round at the party bus while serena holds the all-time edge, venus got her last night. 17 to 12 serena holds the all-time in and spent. traduce serena did just have a baby. i want to defend her right there. it's amazing. i love when they play each other. they get competitive. >> the first few matches 14 months away. trying to get ready for the opening. all the grand slams this summer. tranter you can catch the headlines 24/7 unserious xm channel 115.
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chris beauchamp market analyst for i.t. group. let's talk about what your expectations are and what europe is going to be watching in the data in the u.s. this morning. >> that is the key thing. this could be another one of those major movers for markets at this point in time given the importance of retouching to the inflation of the yield story. it is slightly weaker than last time. it does show signs of strength and that will put more into the idea that the fed will have to type the more aggressive pace this year. that is the key one to watch today. we will be keeping an eye on what the euro and the pound are heavily under pressure as of late. europe might get a bit of a breather. lauren: european markets, chris, watching steel and aluminum, seeing how they are going to respond and how it's going to affect your industries.
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>> that's the other worry at this point in time. you seem quite a big risk aversion of steel stocks and companies. there are signs that may be negotiation or maneuver from the white house now with some kind of response from the e.u. and the u.k. these are the things that get settled in back rooms, but the public does settle this at one point in time. cheryl: the news all about inflation today on our network. great to have you. thank you. >> thank you. lauren: thank you so much for joining us on "fbn:am." maria: we send it over to maria bartiromo. maria: hey, ladies. good to see you. happy tuesday. i maria bartiromo. tuesday, march 13th. top stories 6:00 a.m. on the east coast. president trump orders broadcom to end in its $117 billion bid
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for rival qualcomm citing national security concerns. breaking down the big move this morning after trade concerns weighed on stocks again yesterday. the dow industrials closing down better than 150 points. industrials like boeing and caterpillar, the nasdaq closer to a record high meanwhile. the 15th record high this year for the nasdaq hear those check features and tell you what's going on this morning that the momentum on the upside. dow industrial up 60 points, one higher. s&p and not back also in positive territory. investors weighed on the inflation data. expected to be had by two tenths of 1%. a lot of focus on inflation. we will focus on it as well. europe markets edging higher. ft 100 up a fraction. cac up one half of 1% in the dax up 22 points higher in germany. marcus perform mix. the shanghai composite with the hang seng in hong kong that two
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thirds of 1%. the kospi also higher. battleground day pennsylvania. voters head to the polls in a key congressional district today. another primary test for president trump. things than just an hour before the polls open taken a pennsylvania. a series of deadly package explosions this month leaves two people dead, more injured. the >> just a loud, loud boom. >> it just went shooting now. maria: the latest from the scene and a warning for residents this morning. another storm is claiming the east coast as we speak. details of 1500 flights already canceled. we would give you the update on the next nor'easter right now. why ge failed to get top executives cash bonuses for the first time in the company's
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