andrew mccarthy and pastor robert jeffress with us tomorrow. good night from new >> right now we are seeing allow in orders for u.s. soybean a at time when we would normally see preorders for fall delivery. >> breaking news this morning, trade tough talk toughens while u.s. demanding u.s. cut surplus $200 billion by 2020. live report from beijing. cheryl: wild day of trading yesterday. dow plunging 400 point before closing up 5 points. we will take a look of what's behind yesterday's volatility. i love that kind of turnaround. investors foe -- focused on

reports this. 4.0 unemployment rate, taking a look at the futures, dow s&p 2, nasdaq down 13. cheryl: in europe stocks opening mostly higher. cac barely down. >> rest of asia under pressure as they watch the u.s. and china trade. cheryl: afters breaking this morning, federal investigators monitored call logs of president trump's personal attorney general michael cohen but they didn't listen to any of those conversations. >> interesting development. and twitter is telling all 336 million users to change their passwords like right now. fbn:am starts right now.

♪ cheryl: 5:01 a.m. in new york. it is friday, good morning, everybody, may fourth. >> gerri willis for lauren simonetti. cheryl: we've got a a lot of breaking news to bring you up to speed from overnight, u.s. delegation is asking china to cut the trade imbalance between the united states and china and they want that immediately, they are also asking that china stops subsidizing technology, team led by steven mnuchin holds crucial talks with officials. >> connell mcshane with the very latest, connell. connell: the u.s. came asking for a lot and we are learning that the chinese are saying that a lot more still needs to be done. we have been watching state media reports coming out from news agencies over the last hour

saying the two sides have agreed to consensus on some issues but on other issues big differences still remain. those are the words that remain. big differences, the two sides have agreed to maintain what they describe as close communication, now, in addition to that, a person familiar with the talks has verified to as authenticity of a document and i have seen it myself that the united states presented the chinese officials that the -- when talks begin. china to reduce trade imbalance and do so immediately, china to cut trade surplus with the united states by $200 billion by the year 2020 and china to stop subsidies for advanced technologies, in addition to all that, the u.s. delegation told the chinese that additional tariffs would be imposed if china failed to comply with already agreed upon commitment. so that's where we are. a lot of this information i have to say was known to us in reporting before talks began, we

still don't know exactly how chinese will play things here on out, only the big differences remain. all-important soybean, the united states exports about $14 billion worth of soybean product into china each year, the response better stated to lack of action, as we are heaging it the chinese at least for now have stopped buying, take a listen. >> chinese importers will start buying sometime in the near future because there's incredibly short harvest in argentina. meaning not enough soybeans available especially in the fourth quarter of the year to meet china's needs. >> at some point the chinese will have to at least to expert opinion wills have to turn back to the united states for soybeans but right now the buying has is to bed. secretary steve mnuchin and the rest of the delegation that he's

led to leave the country, from what we understand they'll leave in the next hour or two, they are going home with an agreement to keep talking but a lot of work, gerri and cheryl that still needs to be done. cheryl: not a lot of move on intellectual property which is what we were hope to go hear about. >> that's absolutely fair, even in this document there's not a lot put in there about that. remember the indictment that i cited that we had a chance to look over here, that's what the u.s. came out with and put beforehand. but from the chinese side this morning, the most important development is that big differences still remain, for all the talk about consensus being reached on some issues and chinese are saying there's still big differences between the two sides. >> connell, great reporting,

thank you so much. also breaking this morning, fox learned federal investigators monitored call logs of president trump's personal attorney. cheryl: meanwhile president reimbursed cohen for the money given to stormy daniels. >> major new development against case of michael cohen. the new lead to the president's legal team for russia investigation, rudy giuliani dropped a bombshell saying the president reimbursed cohen to adult film actress so she would not tell story to the media, the president reimbursed the money through monthly retainer, $35,000 a month and didn't know specifically about the payoff. >> it was a bombshell in the sense that it blew up the case. the case began as illegal campaign contribution, $130,000 must have been campaign funds, they go after, they invade

cohen's office as a lawyer, disgraceful, i don't know how they can put signatures on the aft -- affidavit but they do. >> they had wiretaps on at least one positive cohen's phone but they were not recording the conversations, just collecting the metadata like call logs, one of the calls collected came from white house extension, back to the payment, the fact that the president reimbursed cohen caught everyone at the white house off guard. >> first awareness i had was during interview. i was given best information i have, some information i'm aware and some i'm not aware. >> giuliani there's no case against cohen for illegal contribution, no reason for continued wiretap or charges.

cheryl: for more on this our panel will join us in a few moments. >> president trump to announce the national rifle association, this comes after two months after a mass shooting killed 17 people and injured 17 others in parkland, florida. fox business will carry the president's speech live. cheryl: we will get the april job's report this morning, economists are looking for 192,000 jobs, nearly doubled of 103,000. unemployment lowest since 2000. complete coverage and analysis of the april job's report, that starts at 8:00 a.m. eastern time. >> speaking of jobs, ceo jacobson and the company's board, they will stay on for now, that's after illegal settlement, carl icahn called

for exec cuetives -- executives to step down. they claim the deal undermines the company and continue fight to rescue xerox. shares nearly up 1% this year. cheryl: we are on the watch for alibaba's earnings. >> good morning, tracee. tracee: good morning, alibaba is scheduled to release earnings before today's open, revenue of $9.3 billion for the quarter, that's up from 5.6 billion a year earlier, another thing to watch alibaba 33% in ad financial, part of alibaba before ipo, the stock recently hit a record high of 206 -- $26

a share. >> twitter is asking us to change password. tracee: out of an abundance of caution that they should change passwords right away in vlog post, glitch caused passwords to be posed in plain text in internal system. twitter fixed the bug and found no indication that passwords were stolen or misused. if you use twitter password for any other service or platform, you should change password. cheryl: like we don't have enough to keep up. jay z is going to court? >> next week, actually. but jay z has 99 problems and the sec is one. the sec has ordered jay z, manhattan federal court next week regarding 200 million-dollar sale of rockaware apparel in 2007, it is

investigating whether violated security's laws related to financial filings on rockawear, third time that they tried to get jay z to talk, he has refused so far. cheryl: he can do whatever he wants. >> come on, tracee, thank you for that. tracee: thanks. >> and coming up, treasury secretary mnuchin said trade talks with chain are going well but will negotiators, will they woman away with anything at all, check out this volcano erupting in hawaii, dramatic pictures forces tens of thousands of evacuations, we will tell you more, right now markets, what are they going to do today, all three indexes down this morning, you're watching fbn:am.

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i want some more what's he doin? please sir. i want some more more? he has asked for... thank you well he did say please yes he did and, thank you (all boys): thank you, thank you, thank you. >> cheryl: welcome back, let's get you caught up on what's happening now. job's friday right now we are pointing lower but that can change at 8:30 a.m. eastern time when the report comes down for april. s&p down 4 and a quarter.

nasdaq 17 and a half. well, hawaii is on high alert after the volcano erupted on the big island. eruption sending lava shooting into the air. officials urging residents to remain calm but alert this after earthquakes rattled the same area. there are also evacuations near chemical plant in louisiana, residents and businesses within 1 mile of the technology's plant are being asked to leave after a fire broke out. a lot of smoke can be seen for miles but no report of any injuries. tensions mounting between the united states and china. this time in africa, the pentagon says china's military personnel are targeting american flight crews over the east african nation of using high-powered laser, two airmen

are sustained eye injuries, u.s. demanding to chinese. gerri: u.s. trade delegation lead by mnuchin asking beijing to reduce the trade imbalance right now. joining us now james carafano, vice president of national security at foreign policy at the heritage foundation. james, welcome to you, let's get right to the breaking news, our own connell mcshane reporting moments ago that we have details of what the u.s. is demanding, it's the trade imbalance go down by 200 billion, by 2020, that's the center piece of what they are asking, is that the right place to start? >> right, two key points here, one is -- we missed the boat by focusing on trade imbalance, what the administration is really driving they have access to our markets, we should have access to their markets because that i are no longer a developing country. i think that's exactly the right tactic and the other thing is

this is part of larger strategy, for ten years, plus, we have had a strategy like in the blazing saddle's movie, you better not shoot mango, you might make him mad. what this administration is doing is exactly the opposite, no, whether it's economic or foreign policy, let's bump them. ger tber there are downsides to challenging them. right now we are finding that soybeans are not moving, listen to this. >> we are not getting the preharvest bookings that we normally received in the last 10 years. the importers of u.s. soybeans are not contacting the exporters and placing orders and submitting for contract delivery. james, we've got 3 white house advisers and ambassador, three cabinet secretaries over there

and pardon me but looks like nothing at all is going to happen, what do you see? >> look, we have to do this, if we don't stand up to china, who will? if we don't stand up to chinese and economic practices regardless of what the pain is, who in the world is going to do that, the answer is nobody and that's your choice. gerri: there's ways to challenge them and how do you challenge them is a critical question. we are focused on manufacturing, shouldn't we be focused on services, nowo, banking, financial, you can't get a foot in china, why aren't we talking about those issues? >> fund feintly it's about driving reciprocity. gerri: at some level trump has to be applauded for broaching.

we have had in the back burner for how many years now, how long would it take to turn this around? >> that's a great question. we will know something after the trip, one thing we have to not look at the overall atmospherics, you have to be tough with chinese but safe haven is always important to them. they may put out public message, we may put out public message. what matters is what the numbers look like a year from now. gerri: i hope we get the made in china under control. america subsidizing tech industries. it's unfair some people say. appreciate your time. cheryl: he made a great point, what are we getting out of this? doesn't look like much. gerri: not yet, maybe there's a secret sauce we haven't seen yet. cheryl: i don't know, well, at least back in the count we we have something coming up. we have weekends with warren to look up to, reporting earnings

tomorrow, yes, saturday and taken huge take at apple, we will have a preview of that, ceo of nike forced to apologize to all of his employees, we will tell you why and then wow, we are going talk about this, did you see the volatility yesterday, what was that, my head was spending around, crazy, down nearly 400 positive, we had a positive. we will talk about it. dow jones down 45 into retirement. and market volatility isn't top of mind. that's because they have a shield annuity from brighthouse financial, which allows them to take advantage of growth opportunities in up markets,

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gerri: wow, another wild days on the markets yesterday, let's take a look at where we are going today, the dow down 46,

s&p down 5. nasdaq down 18. cheryl: let's take a look at europe right now. again, europe could react to job's report that we are getting in the country. ftse is up by 37, cac 40 down barely, dax is up by nearly 30 points. gerri: in asia, we are seeing movement there too, all down, all lower, hang seng down over 1%, shanghai composite down a third of a percent. kospi down 1%. cheryl: oil, let's take a look at what's happening to oil prices, near 70 bucks at barrel, 68.29 down 14 cents and of course, gerri, the big story is the job's report, 1%. gerri: 4% for top line and and rebound in number of jobs created. that will be good news, i'm going to be paying watch, would we see improvement in pay. cheryl: still lacking a little bit. we have a lot more coming up.

there's a major meat recall that may set your weekend barbecue if you buy your meet at kroger, the story is for you. tomorrow, it's may fifth, cinco de mayo, we will tell you where you can get the best deals on margaritas and, again, as we look at your futures, this all could change with the job's report coming out at 8:30 a.m. eastern time, maria bartiromo having full coverage in the last hour of mornings with maria. dow down and nasdaq lower as well there was an idea. to bring together a group of remarkable people. to help save the universe... from paying too much on their car insurance.

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>> it was only a bombshell that it blew up the case. they don't bother to tell you

because they don't have any honor that the whole case is falling apart. cheryl: new developments into investigation of president trump's personal lawyer, call logs collected by federal investigators. gerri: wild day of trading yesterday, dow punching nearly 400 points up 5 points. cheryl: investors are focused on the april job's report due out 8:30 a.m. eastern time, it is going to force the fed's thooppedz raise interest rates ahead of futures pointing to down open, pointing down. gerri: difficult to see, dax up 24. cheryl: in asia japanese traders, well, they are still on holiday but the rest of asia under pressure as everyone is watching the u.s. and china and the trade talks, shanghai and south korea both down over 1%. gerri: ceo of nike forced to apologize to all of his

employees, fbn:am continues right now. ♪ ♪ cheryl: 25:30 a.m. in new york, i'm cheryl casone. gerri: and i'm gerri willis in for lauren simonetti. cheryl: giuliani acknowledging that michael cohen paid stormy daniels to stop her from making embarrassing allegations against the president. >> this was never about the campaign. it's about personal reputation. the money wasn't paid to help the campaign or hurt the campaign, the money was paid because of the embarrassment in an allegation like this. maria: right.

>> people pay that kind of money even when it's not true. cheryl: president trump repaid cohen, is giuliani helping or hurting. good morning. >> good morning, cheryl. cheryl: he's saying that this is common practice, celebrities, people of wealth, you have your fixer, attorney who takes care of things whether you're aware of those things or not. but the president seemingly has now admitted that he did in fact, have knowledge of payments to stormy daniels. >> yeah, i think this is giuliani trying to make what could have been a campaign matter a family matter, what could have been a criminal matter perhaps just ethical disclosure matter and i think all in all he did well except for up with point, he went back to "fox & friends" yesterday and ep us theiasm to be back in spotlight he made it about the campaign again, what if this information had come out in the

october 15 debate with hillary clinton. i think giuliani had a good strategy and was trying to piece together facts in order to limit the potential political or legal damage to both trump and to cohen but just in overexcitement to be back in the news i think he messed it up but referring back to the campaign. cheryl: he was on with maria bartiromo, that's where i want to play for you now yesterday but he talked about that issue of the campaign saying that it was never about the campaign. listen to this. maria: do they just want the president to start talking, start talking about and he can go anywhere? >> you've got it. maria: that's the plan -- >> i always thought it was unethical to question somebody just for the purpose of trapping them in a perjury. cheryl: she was asking him, different sound bite but she was asking about mueller investigation, this has gone to mueller investigation to possible collusion between the trump campaign and russia to now

all about stormy daniels and where is that line and the line seems to be being crossed according to giuliani. >> yes, i have to agree that if we think about this, the media tends to be playing up as though this is a purely legal matter for the president himself, but we know that in reality, a sitting president is not going to be prosecuted by federal prosecutors who are under the attorney general in the executive branch that the president by the constitution controls and so ultimately this becomes a political matter that the house would determine whether or not eventually there were enough facts to support impeachment and ultimate removal and that's not likely. this goes to the election. why are we not talking about that? cheryl: there's a really good piece in the journal about this this morning, is it dangerous for president trump and giuliani to making plans without including white house staff and other attorneys? >> no, these are personal matters especially stormy daniels and what's going on with michael cohen, they should be

handling that without white house resources. cheryl: michael barns appreciate it. gerri: ceo of nike forced to apologize to employees. cheryl: tracee carrasco with more headlines. tracee: nike ceo mike parker apologized to employees at company meeting for allowing a workplace that excluded some staff and didn't take complaints seriously. the apology comes after weeks of turmoil including the departures of senior executives and complaints of inappropriate behavior. cheryl: interesting, a lot of inappropriate behavior in corporations these days. tracee: beef supplier is recalling some 35,000 pounds of ground beef due to possible plastic contamination, according to the usda someone found hard pieces of blue plastic in the beef it was sent to kroger stores in north carolina,

virginia, indiana, illinois and eastern west virginia as well as food for less and stores in the midwest. you can get more information on which exact beef on the usda's website. gerri: you have a good food story about margaritas. tracee: margaritas, tacos everything you need to celebrate king cinco de mayo in style, hard rock coffee margaritas for $5, 3-dollar tacos and 5-dollar margaritas at hurricane grill and wings, mo southwest grill, giving free t-shirts to first 50 customers at every location, burritos there are $5 and on the border, 5-dollar margaritas also. also kentucky derby, you can get double special in some places. cheryl: bourbon in tequila. welcome to fbn:am. we love it. gerri: another wild day on wall

street, melissa joins us now, good morning, melissa, great to have you here, you have to tell me, my friend, what happened yesterday, why that massive reversal, i'm in favor if it's going to go positive but what happened? >> expect volatility to continue, we fell a lot yesterday, i was surprised how much we rallied in the close, we almost broke a very serious level in the dow, 23,300, we were $2 away from doing that. the market is going to fall really hard. we did rally, we were up this morning in the premarket now we are down, so who know what is we do today. remember, we have the u.s. delegation in china talking about all of the trade deals, that's going to move the market in the next few days. gerri: there was an honest answer, we don't know what's going to happen today, we are considering what's might happen. >> that's right. gerri: why can't the companies get benefit of earnings, we have seen eps26% but not translate to

go strong dow or s&p. >> overall you look at the charts, technically it's not being reflected in the price even though companies are reporting fundamentally strong earnings, we've had stocks gapping up and falling and crash, crack is a good example, boeing is another one that fell, amazon fell in earnings even though it made new highs, honestly apple was the only one reported may first this week that actually rally on the earnings and speaking of that, it came out that berkshire hathaway ended up buying 75 million in apple stocks, that was huge news and they report soon too as well. i mean, honestly, for whatever reason the market is not -- it's not connecting the fundamentals and technicals are not connecting together. i think long term the fundamentals are good for the companies and we will see the growth because of tax plan in 2018 but not right now it's not being reflected on the price.

gerri: i wanted to ask you about the warren buffet move, he's a famous value investor, does that tell you something about what's going on in the market, that this is a value-investor market, we have been all about the growth stocks forever and suddenly apple could be considered a value stock, could investors start changing focus to those values place? >> well, they might. apple is the unique situation. it's a very strong stock, remember, they are bringing all the cash from overseas, they are buying 100 billion, i think, of their own stock to boost up the stock price, so they are doing a lot of things themselves that that's one of the ones that's close to making new highs as well. it was around 177 in the close yesterday, previous high was 183.50, the stock could easily fly over 200 in 2018. gerri: melissa, i have to tell you the stock buyback from apple, bigger than combined market of ford and gm, amazing stuff. melissa, thank you for coming. >> thanks. gerri: program note for you, our

liz claman live with warren buffet for annual shareholder meeting in omaha, nebraska, all starts tomorrow saturday afternoon at 3:00 p.m. eastern. don't miss it. cheryl: we still have a lot coming up this morning, busy morning, a man in handcuffs, he fails miserable being but the video entertaining, we will play it for you. get the mint to go, off to the races, guess who is live, the floods in store for big race. take a look at futures, still in the red, dow down 44, nasdaq down 18. you're watching fbn:am.

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gerri: welcome back, nasdaq dow trading lower ahead of the open. investigators found two pieces of broken blade that killed one passenger and injured others.

south wis crew landed the plane safely at philadelphia airport. and former volkswagen ceo had indicted for his role in the emission's cheating scandal that cost the company billions of dollars. he's been charged with conspiracy with efforts to cheat on diesel emissions testing. led the company from 2007 to 2015. and wild video out of utah courthouse, take a look at this, a handcuffed defendant jumping, yes, jumping from a balcony trying to escape, of course, he didn't make it far, why, because he slammed into the ground and broke his leg, pelvis and fractured skull. cheryl: he still has handcuffs on in video. >> unbelievable. cheryl: you may need drink after that. get ready to place your bets,

144 kentucky derby starts tomorrow. tber ger janice dean live in louisville, kentucky at famous churchill down where is the runs for the roses will take place, good morning, janice. janice: good morning, ladies, i believe the horses are coming out, look at that, yes, it's the 144th kentucky derby today is the philly's, they are raising for the lili, the female horses and everybody encouraged to wear pink, this is the kentucky oaks, hot off the presses and i have special guest that i will bring to talk about how to bet, this is peter rotondo, he's the vp, we are close because we have known each other just as long as i have known my husband, we made in sar totoga. pete, justify the horse to win, what do you think? >> i think justify could be the

next triple crown, he's that good, as a 2-year-old he never raced which people think that's a little bit of an issue, but -- janice: so young. >> but i think he's ready to roll. bob up with of the best, if not the best, all he has to do is get out of the gate. janice: bob was the trainer of american fa -- pharoah who won crown. >> he's only raced three times. janice: tell us how the trifecta thing, how am i going to win the most money? >> well, i think the key is you have to take justify, put him on first hole, on top. underneath, second, third and fourth, you have entice, also audible who looks like he's doing really well. he won the florida derby last

time by open and vino roso, mini viola, all the boys from brooklyn and long island him. you put justify in the first hole, use the long shot entice and vino roso and audible. janice: will you stick with me all day long? i am going win some money. you know what, ladies, the weather forecast, a front right on top of louisville but there's the chance of rain but i'm going to make sure that it's sunny skies for the derby. cheryl: i have taken complete notes so tell him thank you for my bet score for tomorrow. janice: love it. gerri: love to see that they are raising money for breast cancer, that's awesome. janice: absolutely, my friend, i know it's near and dear to your

heart. gerri: still plenty more ahead. in the nba playoffs lebron james and kevin love pick apart toronto raptors giving calves series lead. jared max is here next with all your sports highlights, u.s. stock index futures, let's take a look to see if we have a change, no, still heading lower on all three major indexes, you're watching fbn:am. mr. elliot, what's your wifi password?

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cheryl: lebron james, okay, nothing more to say, just lebron james. gerri: that's absolutely right, jared max is here with concise

and beautiful, wonderful illuminating sports story. jared: lebron did it again, he keeps doing this. lebron posted totals, 46, 45, 44 and now 43 point. greatest basketball player in the world put on another show. 14 ra cysts as well. lebron didn't break both shoulders and half a spine carrying the team this time. kevin love knocked 31 points. 4 out of 8 foul shots, only 7 times did the raptors lose at home, 0-2 at cleveland who is two away from eastern conference finals, so are boston celtics despite the fact that they fell behind, down 5, they beat philadelphia 108-103. next head coach for new york knicks would be david fisdell who has golden relationship with lebron james, assisted in miami for many years, could miami head to knicks?

tiger woods back on golf course. charlotte, north carolina, one under, he finished even par, 6 shots back at the wells fargo behind john peterson. entering the final year of 5-year contract atlanta falcons matt ryan, $100 million guarantied and will give him reported annual salary of $30 million. cheryl: wow. jared: wow, that's 2 million higher than kirk cousins with the vikings and drew brees, fourth all-time in nfl receptions, 15-year dallas cowboys jason witten to entering the monday night football booth, one player that's not retiring even though he seems he is, but might just need training wheels, suzuki, nine seasons in japan, 18 in major league baseball,

effective immediately transitions to a position called special assistant to the chairman. now he won't play anywhere but take batting practice but he's not retiring. ichiro said yesterday when i start using the cane, that's the time that i think i should retire. cheryl: i think we all agree with that one. [laughter] jared: that works for all of us. gerri: look at tiger woods, par, you have to do better than that. jared: he's within distance, 6 back. gerri: thank you, jared max. cheryl: we weren't invited, what's up with that? gerri: we will bet and we will. catch jared max on fox news 24/7, siriusxm 115. cheryl: we have a lot coming up because it is job's friday and april job's report will be out very shortly. we will head across the pond in london to find out what they are saying about the u.s. job

market. we will be right back. ncing, and more downloads in seconds, not minutes. ncing, get fast internet and add phone and tv for only $34.90 more per month. comcast is building america's largest gig-speed network to give small businesses more. call 1-800-501-6000 today.

cheryl: all right, get ready, april job's report is out this morning, james foley, senior current analyst, joining us from london, james, good morning to you, obviously there's a lot of different things we will get in job's report. what are key piece of information you want to see this morning? >> well, for lots of economists it's really about earnings, this

one is expected to remain, well, a little bit unchangedded from last time around. so the headline right around 2.7 year on year and the reason it's so important it's that while we have very tight labor market conditions in the u.s. we have very little by way of wage inflation but some are begin to go suggest that wages might be creeping higher and we will see that today, it's a really important number. gerri: important number, 2.7% year over year, we are wondering where it's going next, will fed raise rates more effectively if we get wage growth faster than that, what's in your crystal ball? >> well, it certainly could do, the market is totally split upon whether or not the hack will hack three times this year or 4, if we see more wage inflation, well that would suggest that the fed is perhaps behind the curb and would need to hike more aggressively, that would play into that argument. cheryl: also, jane, we are

looking -- we are watching for more headlines coming out of beijing with the u.s. and china and the huge trade delegation over there, what's the reaction in london right now to really kind of a lack of news out of those trade negotiations between our two countries? >> i think many people are n the market are waiting, some companies suggest that they expect growth could slow later this year because of uncertainties about which way trade will go, so i think already this is beginning to happen, uncertainty about trade is begin to go have economic outlook, really, really important for the economic impact. gerri: we have seen news out of china this morning that that country not buying u.s. soybeans, we are already seeing markets impacts in the marketplace, do you think this could grow, could there be more of this kind of thing, would this turn into all-out trade war? >> it certainly has the potential. although right now the consensus is that it won't but clearly it

has the potential and what's really quite interesting is that many economists are pointing out that actually in the first instance it could be the u.s. consumer that could be hit a lot harder than chinese consumer because don't forget, of course, the u.s. consumer is using cheep chinese goods and if they are more expensive, the u.s. consumer will pay the price. cheryl: jane foley. gerri: now turn it over to maria bartiromo for mornings with maria. maria: hey, there ladies, good morning to you, happy friday, good morning, thank you so much for joining us, i'm maria bartiromo and it is friday may fourth, top stories right now 6:00 a.m. on the east coast. breaking news right now, high-stakes talk over trade, u.s. delegation led by treasury secretary leaving beijing after listing demands, u.s. seek ing 200 billion-dollar cut in trade imbalance. live in beijing as the two world

economies work. job's report due out in 2 and a half hours. economists are looking for job growth of 192,000 added to the economy with unemployment kicking down a tenth of a percent to 4% even. number live at 8:30, we are breaking down all of the numbers and identifying where the jobs in our job's in america special this morning ahead of report indicating decline at the start of trading, dow industrials down 17 points, fractional move on percentage basis, s&p 50 down also just 2 points and nasdaq down 10 points right now. volatility back on wall street rock the street yesterday, the dow clawed back in positive territory recovering from a nearly 40-point plunge. in europe this morning, take a look at indices and what's going on there, we see the ftse up but the cac quarante down. the dax index in germany down about a half percent.