which this president has used to his advantage. charlie, great to see you. i hope the president gives them hell. thanks for being with us. train to the trump economic team has arrived in beijing for trade talks. will the chinese play ball? live to beijing for the latest details. gerri: investors watching stocks closely by reacting tohe federal reserve the more rate hikes coming later this year if theconomy continues to strengthen a current levels. the dow sold off 174 points on defense statement. cheryl: a lot of action yesterday or the earnings parade

continues. dow dupont along with the big health the big health care needs ahead of that. your sutures are pointed to a higher open. don't 51 from s&p up six and three quarters. nasdaq up 12 and a quarter. gerri: stocks open under pressure amid trade tensions. taking a look at the mix here for the ftse of 22 points but the cac down 12. dax unchanged. cheryl: stocks in asia actually lower. in japan the market close for a two-day holiday but in hong kong, the big loser there, the hang seng down under 1%. gerri: tesla stock as the stock to watch dr. elon musk electric car company posted another loss and continues to burn through cash. "fbn:am" starts right now. 5:01 a.m. in new york.

thursday, may 3rd. m. cheryl casone. gerri: and gerri willis in for lauren simonetti. cheryl: tesla vostok we're talking about later on. gerri: it was big and elon musk did not want to answer any of the questions coming from analysts. he said they were giving him a headache. cheryl: will talk about that later on this morning. right now we go overseas. the u.s. delegation led by treasury secretary stephen mnuchin is in china with crucial trade talks. president trump treating a great financial team is in china trying to negotiate a level playing field. i look over to being with president xi in the not-too-distant future. we will always have a good great relationship. reporter: the best we can tell the talks have been underway for about two hours. delegation keeping a relatively

low profile and they will continue talks into the evening. already passed evening. arty past evening. arty past 5:00 on a thursday evening in beijing. have dinner together both sides and be back at a long day of talks set for tomorrow. earlier today we're in downtown beijing just outside the u.s. embassy and resell the motorcade carrying the treasury secretary mnuchin leaving the embassy at that time headed out to the site of the talks and that is a place called bayou state guesthouse which has hosted a number of visiting dignitaries over the years. one point there was a resident dome, but these today sold to the place where mnuchin and his colleagues will have a chance to make the case for president trumps trade agenda appeared the question according to the experts is how much can they actually accomplish in two days? take a listen. >> when they speak torah members members they tell a successful outcome a framework for continued negotiations to address the ip protection and

transfer issues raised by the u.s. trade representative's office found thathere is also a focus on the u.s. trad deficit d reductheeficit and good. perhaps something will come from that as well. >> the issue of intellectual property theft you heard mentioned is a good one especially for u.s. technology companies on the table. some of the others you heard talked about will be as well. one is cutting the trade deficit by $100 billion. president trump is talked about in recent months. the other involves something in china as made in china 2025, which is basically $300 billion in government spending no for a number of years to push china into a tech powerhouse all by itself. chinese government officials have been hinting the last few days. they don't intend gerri and cheryl to budge on this issue split the experts are quite cautious but we'll see what happens over the next couple

days. gerri: sound that the administration has been trying to reduce expectations. thank you for that report. the pentagon ordering all around the world to ban cell phones and other telecommunications equipment made by a walkway and cte after intelligence officials warned those chinese devices could be used to spy on u.s. service members. cheryl: a lot of moving parts to all of this. edward strengthen joins us from the president of the american institute for economic research and professor at trinity college. let's first start exactly what the chinese response to all of this. the china daily actually made an interesting statement on behalf of the government if you will. here's what they say. china will stand up to the u.s. is that the paper is saying this morning. bullying is necessary and is a champion of globalization, free trade and multilateralism will

have strong support for the international community. this does not sound like a country that is ready to cave on any of the president's demands. >> sure, yeah. the united states government is proposing all types of terrorist, which are basically taxes on american consumers, american manufacturers. that increases races. the fact that china is having some pushback on that, it totally makes sense to me why they would want to have their goods taxed more. the administration is proposing reducing it on canada, the e.u. and china once to say what about us. true to the president has been clear that he believes that china is the true problem when it comes to unfair trade for the united states and other countries. also talk about the two main concessions first. reducing the trade deficit at 375 billion. he wants a $100 billion

reduction on that. and also, in promise to spend less than planned $300 billion chinese businesses. a reporter talked about dining china that it's almost his first marriage as the chinese have demanded for years because that opens up our intellectual property that they went access to that if they want business in china. that doesn't seem fair to me. >> the one thing that i advocated banning the term trade deficit and replacing it with a term called good surplus. we are getting all of these goods from china. we are getting all of this steel from china. thank you so much, china for giving us all of this aluminum and steel. and we are not giving any goods in return. i've got it trade deficit with the local grocery store getting all of this stuff then returned. the idea we want to reduce this

is just bad. >> really quick, there's a really good editorial in "the wall street journal" talking about these trade talks and they say there's too many cooks in the kitchen that this delegation. three cabinet secretaries, three white house ambassadors. a lowlight work done in advance of this and it's not about protecting u.s. manufacturers. we should be focusing on the export of services to china. would you make a bad idea? >> there's way too many cooks in the kitchen i was doing some light reading this morning by my favorite hook, adam smith's wealth of nations that said we don't need to be interfering with these things. we don't need to be getting in the way of all of this. cheryl: i love it. things are getting up with us. we appreciate that. gerri: exciting bedtime reading. sure is a test plus we've been

talking about the stock falling in the premarket after dropping 4.5% in extended trading amid concerns about tesla's cash burn rate and some awkward moments for ceo elon musk called some of the conference calls question from analysts boring and dry. the stock tanked on that. cheryl: we are sorry we are boring you. tesla came in better than expected while revenue topped the forecast. on tesla's results from our own christina. >> tesla meena bergenfield because it's an all electric car maker, but it is burning through cash produces a cash from q1 at $257 billion. not as bad as expected, but they're still having issues with reduction in the company warned that going into q2 that will have to shut down production for roughly 10 days of the model three, the cheaper car come of the all electric sedan worth about $35,000. when you consider the add-ons is worth 55,000.

the production will halt for about 10 days. elon musk ceo has admitted there is too much automation too quickly. they need to work with the robust and the bottlenecks. another big beat and earnings estimates as sales of batteries and solar panels became a much stronger $410 million in sales. analysts expecting only $300 million in sales. overall they did beat enough expectation but still posted a loss for the quarter. back to you. gerri: sunday that stock will make money. might be a long way, but i don't know. on to cambridge in the lead up to announcing its filing for bankruptcy in the data scandal. cheryl: tracee carrasco has saturday morning headlines. >> cambridge analytics a set is shutting down following all the criticism for violating the privacy of 787 million facebook users. according to "the wall street journal," legal fees are one reason for the collapse of the statement said despite cambridge

analytica's unwavering calm for and media coverage has driven away virtually all of the company's customers. as result is determined it is no longer viable to continue operating business. cheryl: probably not a surprise at this one. faced with taking action against one of its own employees. >> "the wall street journal" reporting that facebook has fired an employee who bragged about his access to private user information to a woman he met on tender. the employee allegedly told the woman whose job involves tracking hackers in finding their identities and called himself, quote, a professional stalker. the woman told her friend who works at a cybersecurity firm. facebook now says it is investigating. this man was trying to dig up information on her, so that really spooked her. >> yes, it would.

gerri: private data not so much. one of my favorite companies will play the kentucky derby. >> off to the races. amazon's audio book company audible is sponsoring the kentucky derby because the horse is also named audible. they first found out about the worst back in february but when he won the florida derby at the end of march, the company decided to give audible a full scholarship, which has since been dubbed project may. it is one of the front runners for saturday's race with eight to one on. cheryl: thank you for that. tracey carrasco. coming up, more problems for southwest airlines. we will tell you why one of the planes had to be diverted for what you're seeing on your screen there. on the move again, will it break back above 10,000. a quick currency expert coming out. looking at features right now.

the markets fell yesterday after the fed's decision was released on the two-day meeting. now the high rope and to tell you about. s&p up eight and a quarter now 16. you are watching "fbn:am." ♪ into retirement... and a little nervous. but not so much about what market volatility may do to their retirement savings. that's because they have a shield annuity from brighthouse financial, which allows them to take advantage of growth opportunities in up markets, while maintaining a level of protection in down markets. so they can focus on new things like exotic snacks. talk with your advisor about shield annuities from brighthouse financial- established by metlife.

cheryl: welcome back. take a look at futures after yesterday's selloff that followed the fed decision. green arrows. there are 64 in the premarket. s&p if they they come in a second 14, almost 15 points right now. an explosion sunday and least eight officers to the hospital. police responded to a call about a man holding his wife hostage during the standoff a barn on the property exploded touching off a not fire that eventually spread to the home to the woman is able to safely escape. all officers are expected to recover. the military investigating a deadly plane crash near savanna, georgia. my national guard crew members were on board. no survivors could occur in a plane with the highway before noon. officials say it's a miracle no motorists were killed or injured on the busy road. the airlines flight heading from chicago report less than an hour into the flight after a window

broke in midair. they never declared an emergency. a few weeks ago a woman died after being partially through window that shattered after an engine blew on a southwest jet. that is what is happening now. cheryl: the southwesterly discontinues. let's take a look at someone. someone may be staging a comeback. $27,000 last december has jumped about 50% from its close since april. his bitcoin gearing up to make a run for $10,000? research analyst joins us now. great to see you. thanks for coming on. the question is why is this thing moving at all? you take a look at the crypto currency hasn't made a lot of headway in some of the big problems it faces like security infrastructure in 2014 they had

millions stolen. what is going on here and why is it going up so intensely? >> first time a security standpoint, none of those issues have to do with the bitcoin protocol. those are application layers that sat on top of the security problem. someone has never been hacked since it came on the scene in 2010. >> it's a good point, but ultimately it does impact whether it's their fault or not. >> right, but we see more and more development from the application side. safer ways to access bitcoin and safer ways to store it. month by month, year by year. it introduces more people to this space and what you want to see is for the price to go out. tranter registered goldman sachs opfer unter launching a bitcoin. they really are training, just

contacts. how important is this then is it interesting goldman sachs is doing missing jamie dimon and jpmorgan chase calls someone a fraud. >> in order to have a functioning market yet to find a way to shrink the asset class. you will see institutions are hedge funds run into the face until there is a functioning market or you can have buyers sellers ensures sellers. a good step in the right direction for the rest of the crypto assets base. gerri: so volatile. on the ticket take you to a different topic to investors exiting u.s. equity funds for the third month. why are they doing it and where are they going? >> finally you see an uptick in rates. the two-year rates moving up to 2.3%, federate that 2.5. for the first time in 10 years, you see some competition from the mark quite to the equity market. you see a little bit of

outflows. gerri: thanks for your help today. appreciate your time. >> thanks for having me. cheryl: were coming up including this on taxes. playing from a tax on business from seattle. amazon is now responding. we've got that story. janice dean warned us about it yesterday. we will tell you about the path of destruction of tornadoes throughout the midwest. you are watching "fbn:am." ♪ prepare for your demise, mr. billingsley! do your worst, doctor. i will. but first, a little presentation.

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gerri: big weather story day.

from texas to illinois, 25 million people in the path of severe storms for you for day in a row. trend to janice dean is here with the stories. good morning. >> 200 dozen reports are dozen reports of tornadoes dozen reports of tornadoes and his four-day outbreak across the plains states in the system hasn't moved much so the potential is there again today for severe weather. not only tornadoes, the large hail and damaging winds. know what to do if there's a watch or warning in your area. storms will move more toward the east and will actually get the potential risks of created untreated severe storms stretching as far east as parts of the northeast today. there is the threat as we go through for parts of the big end of texas up through the great lakes crossing over towards the northeast today. a lot of warm, unstable air ahead of the system. the threat for attorney does israel not only today but overnight tonight and we are also dealing with flooding rainfall. be aware and listen to your

local weather officials get back to you. gerri: amazing how many states are covered on the map of these. thank you for the update. appreciate it. gerri: live to beijing, china for the latest on the trade talks there. most will go to disney world for the ride, but there's something for mom and dad now. the new attraction is called the bourbon trail. i kid you not. our hackers spying on you through google maps? we'll have the story taking a look at doc u.s. -- u.s. stock index futures at the dow up 66 come 66 come s&p if they s&p abbé, nasdaq up 16. you are watching "fbn:am." ♪ ared images of his land ared images of his land into a system built with ai.

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cuz, um, i thought that was what i needed to do. we got our orders to go overseas and i went to baghdad, iraq. we were transporting a bomb sniffing dog to the polling stations. we rolled over two anti-tank mines, it blew my humvee up, killed my sergeant. after the explosion, i suffered a closed head injury, um, traumatic brain injury, loss of a limb, burns to 60% of my body. when the doctors told me i reached my plateau, i did not want to hear that

because i do not believe i have a plateau. so, i had to prove 'em wrong, which i am doing to this day and i will still do until the end of my days. i've gotten to where i am at because of my family. and, the wounded warrior project has helped me more than i can ever imagine. they have really been there to support me in my endeavors. my number one goal, basically, is to get close to where i was. i am more than readyo wo hard to get to that goal. i am living proof to never give up and i will never give up. >> i think when i speak to member companies they are acting

as the trump administration has articulated what specific outcomes are hoping to achieve during these talks. gerri: president trump's allegations holding key talks in china. while the chinese play ball? a live report from beijing just ahead. >> reacting to the federal reserve with another interest rate hike had inserted into the dollar sold off 174 points on the statement. gerri: dow dupont along with some of the big health care companies. how to companies. how to fall back on at the u.s. stock market futures looking for the good. the dog 64, s&p up seven, nasdaq up the team. cheryl: trade tensions and of course the fed announcement on interest rate policy. the ftse higher, cac 40 is actually down almost 10. >> stocks in asia followed wall street lower. the mark of closed source two-day holiday. hong kong. hong kong the big loser at the hang seng over 1%.

good news for all you parents out there. you can now drink your way through walt disney world. "fbn:am" continues right now. gerri: 5:31 a.m. in new york. gerri willis in for lauren simonetti. cheryl: good morning, everybody. i'm cheryl casone. they were just there. they barely survived. gerri: sounds like we're obsessed with alcohol. we talked about 5-k yesterday. cheryl: yeah, we are. gerri: talking the u.s. delegation led by secretary stephen mnuchin is in line for crucial trade talks. president trump with our great financial team in china trying to negotiate a level playing field on trade. i look forward to being with president xi in the not-too-distant future.

we will always have a good great relationship. connell mcshane is live in beijing with the very latest details on the talks. connell, good morning our afternoon. >> hey, yeah almost good evening here. for us to be talking about alcohol part-time beijing where it's 5:30 a.m. and -- 5:30 p.m. in the evening. the u.s. and china are dead, both sides to have dinner here tonight and then i'll be back at it at the negotiating table for what's expected to be a longer day of talks tomorrow. our hope is covering this event that some point tomorrow they will give us an update on the progress they've made. we were there earlier in the day when a motorcade carrying the treasury secretary mnuchin and others left the u.s. embassy and headed over to the side of the talks and that is a place called state guesthouse which hosted a number of foreign dignitaries over the years with the u.s. and the chinese. this week is secretary said

several hundred chance to make his trade agenda. many of the big issues you've heard about over the years, intellectual property theft in u.s. technology companies is almost certain to come up at the negotiating table. two other big things to watch as well. a 100 alien dollars reduction in the trade deficit, something president trump has been pushing for in another something called you're been made in china 2025 initiative which is a lot of government spending aimed at making china a tech powerhouse all on its own. the chinese for their part in the state media mostly have been pushing out this week the idea that they are now willing to give it now neither one of those issues in outside experts experts we've been talking to on the ground in the united states are rather cautious about what can be accomplished over the next couple days. train to thank you very much. appreciate the live report from asia. more breaking news.

north korea reportedly has moved three korean-american prisoners from a labor camp to a hotel. this happened in early april ahead of the upcoming summit with president trump. mr. trump hinting about their possible release treating the past administration has long been asking for hostages to be released to a north korean labor camp but to know about. stay tuned. condoleezza rice warned the president needs to proceed with caution. >> i would say one thing to the president, which is remember the nature of this regime. this is the regime that killed an american citizen, murdered an american citizen recently. this is a regime that had death camps for its own people. cheryl: what is behind kim jong un sudden change. gunnery sergeant and senior fellow, jesse james. good morning. they might good morning, cheryl. how are you?

cheryl: good, what do you make for north koreans. we've got experience in the region? >> i predict this is a bait and switch. they've been throwing out a carrot and stick policy or at the time we've been working with north korea. in fact, 2007 had a reunification drive ended out the trash to mccain. everything that happened with the north koreans has always failed. condoleezza rice's 100% correct. they can throw something out there and give us a high expectation and then switch anonymous. in their constitution that states they must reunify with south korea that take over south korea and that essentially is in their constitution. this may not work out well if they fall too quickly in the united states. >> you've got a possible peace treaty on the table now between the two of them with a particular into the korean war. but at the same time, what do you make of the optics of president trump possibly doing his summit with the north

koreans in the dmz? do you think that is maybe not the right image the president should be sending back to the american people? >> is also discussed going to singapore which would be a neutral territory. i expect the president is very cautious because they know the north koreans although they stated they will not pursue nuclear ambitions is largely because china has insisted that they stop because there are nuclear test site has collapsed in the nuclear radiation has filtered over into china. we don't know what their actual agenda is. when we start talking about every single attempt to have peace with god has resulted in the building of a military company building up nuclear capabilities while they acquiesce. it's always turned out not very well. trade you mentioned a bait and switch. this is something the regime has done for decades that the leaders. the sanctions in particular seem to have been working. he's not going to list them

because kim jong un makes a promise. >> are we going to withdraw from south korea because they say they are going to play nice. the reality is we've got china to buckle down hard and that was difficult for us because they like being the enabler of north korea are they like being dependent upon them. when you start talking about cutting off financial strains, banks from all international trade, you are looking at problems. china realizes united dates have the power in their hands. gerri: great to have you on the show. a new tax proposal expecting amazon's plan to expand. the mac that another headlines. >> good morning. amazon has put the brakes on a 17 story office tower in downtown seattle at the city council considers a new tax that would cost him his son millions of dollars. the proposed tax would charge 26 cents per employee hour for the

companies with $20 million or more in annual sales. amazon been seattle's biggest employer tear for him to biggest employer they are for amazon which has more than 40,000 workers in seattle and with plans for further expansion. the tax would cost more than $20 million annually. gerri: scammers could be targeting through google apps. >> a security firm has found a scammers are using a vulnerability found in google maps url known as an open redirect phone or ability. it allows an otherwise safe link to redirect to another and save page without your knowledge. it also bypasses safety checks google performs when creating a new short url which is basically a shortened version of the website. the scammers use this url to direct you to their skin side where you'll be bombarded with offers to buy things.

an attempt will be made to compromise your pc. last month google announced it would be shutting down the service and replacing it. she wants to go to the bourbon trail. >> the bourbon trail gazette disney springs, which is kind of like an outdoor shopping and dining area. now through june 172 can take a tour of disney's bourbon trail which includes 18 stop the shops and restaurants for a case of new menu items all featuring the kentucky spirit from smoked brisket to sangria. the pair created a special mount so you can keep track of everything you eat and drink there. cheryl: i'm just so happy for all of my friends that have kid. thank you very much, tracee.

all right, we've got a lot more coming out. an amazing interview last night on hannity. president trump's new lawyer, rudy giuliani made a lot of news. we will have that story. our small businesses businesses benefiting from the trunk tax cut? taking a look at features. we saw they hinted about future rates. the dow is up in the free market. the nasdaq up seven now. we will be right back. these smart

cheryl: welcome back to get you caught up with what's happening. the selloff yesterday after the fed raised its decision on interest rates. the dow is actually up now in the premarket. talk 23, nasdaq up 5.5. well, in an interview with sean hannity, trumps the lead attorney said the president with his personal lawyer over an alleged encounter with stormy daniels. >> having 130,000 which will turn out to be perfectly illegal. that company was not campaign

money. >> president trump had $35,000 payments. giuliana later clarified to john roberts said the president was repaying for expenses and was unaware that the money was going to daniels. maria bartiromo's going to speak with rudy giuliani later this morning. michelle obama called it the forever first lady with the signing day events. >> if i could be standing here as your forever first lady, then you can do anything you put your mind to. cheryl:.com it for class of high school seniors. she referred herself as the former first lady. the two black men in the philadelphia starbucks have reached a settlement for $1 million each plus a $200,000 entrepreneur program for the

city. dante robinson and mershon nelson have reached a separate settlement with starbucks. that is what is happening now. over to you. >> you finally move in your dream home. you defend the best pizza in town. it's a direct marketing franchise to collect businesses to people new to the neighborhood. they have established operations in about a dozen markets nationwide. joining us now, founder and ceo brian mattingly. while cohen. that is one of the oldest names on wall street. alliance bernstein is moving to nashville. because of the tax bill, some of these companies that might've been located in blue states are moving to read dave.

>> is a great point. we see a lot of the trends. for sure you see a lot of moving coming down to the southern states. tennessee being one. heavy movement in florida, so there certainly seems to be this trend showing up across the nation as you pointed out. >> speaking of taxes, what's been the impact of tax reform and small businesses? >> it now, here are some great silver lining for great positive things coming out. from our perspective in our perspective in our vantage point, there's two or three trends we've seen over the past 18 months. we work with small businesses, francesca and independent from the regionals and nationals. one of the things we see on the local level, one of the difficulties it's become is hiring. we actually did a study about

six or seven months ago taken the pose of our clients across the nation and what came out of those studies was hiring and staffing because of the low unemployment. what's happening because of that is based the a lot of automation and innovation happening on a local level. gerri: that's so exciting the changes going on there. i do want to ask her about your company. so interesting what you do for a living. the senate packages only to homeowners. an average of more than six months a typical consumer does in three years. tell me how your business puts everybody together. >> great question. as discussed were 15-year-old brand deliver the country. 60 franchise locations, corporate territories, too. that is kind of the worst adults

are platform and database i should say connecting new people with great businesses in their new locale. one of the things we been able to do his impacts and patented data tracking technology which allows local businesses to gain real insight into who's coming in, who shopping, who's visiting their location and i think that is one of the trends when you talk about economy. local businesses are having their cost per acquisition has gone up because consumers have access to so many different types of media. it is important that businesses pay mine to data, analytics to better use those dollars and be more effect to what they're spending. cost per acquisition not. gerri: we've got a run. thank you for coming on telling us about your company. appreciate your time. >> thanks so much for having me.

cheryl: bad news for the new york mets in their star pitcher, jacob pogrom. our european traders reacting to the fed announcement on interest rates yesterday? live to london. we will be right back. ♪ which allows them to take advantage of growth opportunities in up markets, while maintaining a level of protection in down markets. so they're less concerned with market volatility and can focus more on the things they're passionate about. talk with your advisor about shield annuities from brighthouse financial- established by metlife.

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gerri: welcome back. it's playoff season time. and it's all about hockey. cheryl: jared max is back with the sports headlines. >> check this out. first time this postseason the houston rockets lost a game at home. utah rookie sensation donovan missed mitchell a big night.

he contributed 17 points and 11 assists. your test scores its first win in six tries this season. 116 to 108. whenever the utah jazz will be finished in the playoffs. they will lose assistant coach going to phoenix. he will become the first european born head coach in nba history. he will coach the suns. on the western front in the stanley cup playoffs between vegas and san jose sharks for jones last may. 34 states. for nothing shutout win for the sharks. the series is tied. the red sox new cuba yesterday. while cohen to the boston tea party. three home runs. second time this year he's done it through the fourth time in his career. he's the youngest other to hit three home runs. cleveland's rick the rangers.

the new york mets and their fans holding their collective breath today. he hyperextended is all about taking a swing in the third inning and the mets lost to do nothing. check this out. looking for a diamond in the rough. you've heard of snakes on the plains. here is diamonds on the diamond sliding into second base. there is diamonds everywhere. look at that. eventually a couple others help try to pick it up. >> i'm a little broken hearted myself. i'm thinking that's pretty scary. >> you know what i am? i'm not fan holding my breath. this disaster in "the new york post." hopefully it's not another one that goes down. >> you can catch fox news headlines 24/7 sirius xm channel 115. coming up, how is the fed announcement on interest rate in

europe? live to london for her reaction when return on "fbn:am."

gerri: european stocks are mixed after the federal reserve left. scott showed it to my managing

director u.k. and europe joins us now. good morning. >> good morning. >> what is your take on the fed's announcement? >> it's hard because less other eight years the fed has been consistent but they've been consistently wrong. this time they've gotten things a little bit more right. they didn't really come out and defend it at all. they did more of a wait and see. the probably right. i'm a little leery of seeing them raise rates too quickly because i have to say this. there's a leak in our economic system somewhere. for .1% unemployment. but it's not coming through at the end of the pipe. how come a wage is higher in how come can't get inflation? something is wrong and it's our job to fix it. let's talk about these trade talks between the u.s. and china kicking off today. would you expect to come out of beijing? >> everybody says we don't want to get into a trade war.

we've been in a trade war. they've been ripping off 200 to $300 billion a year. if anybody can give you an argument, keep getting slapped in the face. so far we've got to bring an end to market. they understand there has to be one but that's what we've got the volatility. things have gone well up until now and until now and that is what that is what he sees as investors take the money off the table. gerri: so, one final question. the e.u. said the trunk terrace delays creating uncertainty and hitting businesses. are there concerns? >> yeah, i've got a pause on that. it's hard to make a plan when they're only going month-to-month. i also think trouble let them off the hook anyway. that is the big problem here. at the end of the day there's some unintended consequences because we've got to sort that out in your post sort that out

as well. >> i want a bar that jacket by the way. >> guccione. that is it for "fbn:am." thank you for watching. over two maria bartiromo. cheryl: happy thursday, everybody. thanks for joining us. it is thursday, may 3rd. 6:00 a.m. on the east coast. former new york city mayor rudy giuliani shedding new light on how the president reimbursed his personal lawyer for the payment to stormy daniels. >> that money was not campaign money. sorry and. sorry i've given you a fact now that you don't know. it is not campaign money. no campaign finance violation. maria: i will speak with rudy giuliani later this morning about the revelations in the

case plus the potential sit on a special counsel robert mueller. that's coming up this morning right here at 8:00 a.m. dowd dupont said to report their earnings before the bell this morning. features looking good. dow industrials up 30 points right out of the gate. nasdaq and s&p 500 also prefer action. markets tumbled yesterday after the federal reserve said higher inflation is coming. better than 170 points as you can see their three quarters of 1%. of one half of 1%. markets are looking like this. este 122. cac down 16. dax exactly where it was yesterday. asia overnight the shanghai composite out better than two thirds of 1%. japan closed for holiday and the others were mixed. breaking overnight.