lou: gina loudon, charlie hurt, thank you for joining us. >> i think your autoworkers and your auto companies in this country will be very happy with what is going to happen. you'll see very soon what i'm talking about. gerri: breaking news this morning, a big new twist in the trade were peered president trump wants to slap a 25% tariff on all foreign cars up from 2.5%. we'll have reaction. cheryl: big news there. investors focused on the side and on trade good to doubt turning losses and a 52-point gain at the close after the fed signaled it would hike interest rates.

gerri: the nasdaq up 14. train to take immediate europe. auto stocks under pressure following the announcement of u.s. tariffs on imported cars. >> stocks a nation mixed with the nikkei down 1% while hong kong stock edged higher. cheryl: you would think with all the problems facing tests let the ceo musk wouldn't have time for joking. but you're not going to believe this latest crazy idea. "fbn:am" starts right now. it is 501 amer new york and thursday may 24th. good morning. i'm gerri willis in for lauren simonetti. cheryl: good morning, everybody. i'm cheryl casone. elon musk focusing on model three.

gerri: i think he's trying to distract us from the real story at tesla appeared cheryl: that's going to be an interesting story. the trump administration is now considering steep new tariffs on imported cars and auto parts. the u.s. launches a national security investigation into auto imports. china says it will firmly defend its interests calling them of washington's abuse of national security laws under the umbrella of trade. gerri: lawrence is in washington with more. reporter: president donald trump thinking trade on many different levels. trade representatives have a lot of irons in the fire. the office tells me they can never remember a time where they have ever been so busy negotiating on so many different friends. the president pointing out that there will be big news coming soon for our great american auto workers have her decades of losing your jobs to other countries. you've waited long enough and announced the commerce

department will initiate an investigation into the imported vehicles and auto parts on the basis of national security. this could also push a deal announced. >> nafta is very difficult. mexico has been very difficult to deal with. canada has been very difficult to deal with. they have been taken advantage of the united states for a long time. i am not happy with their request, but i will tell you in the end we win. we will win big. >> china trade in our trade deal with china is moving along nicely. in the end, will probably have to use a different structure. the chinese signaling a shift in their policy. in fact, for the first time state trade soybean representatives showed up at a market, the first time since april at the last year exports were worth $12 billion to the u.s. secretary of state backing of the president saying the u.s. will be tough on china and get a

trade deal done. >> the threat has been known since 2012. you should know nothing was done and what now amounts to almost six years. this administration is going to do something. they met the foreign minister says the trade talks are making positive steps

could hurt u.s. competitiveness. officials set the stage for the next rate hike in june saying if the economy evolves as expect it, it would likely be, quote, appropriate for the committee to take another step in removing policy accommodation. bottom line, at least two more rate hikes at the next rate hike in june. back to you. gerri: all right. over are reporting some good news. a surge in sales growth as it prepares for next year. cheryl: good morning, tracey. >> first-quarter revenue rose from the year before to $2.6 billion. freshly delivery jumped 55%

also. meanwhile, uber is closing down in arizona and will lay off 300 workers there. they said it will focus on its autonomous vehicles in san francisco and pittsburgh. the announcement came two months after one of time hit and killed a pedestrian in tempe, arizona. arizona has welcomed into the seat in 2016 but suspended its ability to test on state roads following the deadly accident. tree into a lot of fallout into a lot of fallout from the one accident. >> we've talked about this. do we know any more? >> we are slowly getting information. tim cook at a secret meeting with north carolina governor maury cooper to discuss possibly putting a major customer service facility in the area. the undercover approach very different from amazon as it searches for second headquarters they said very little about the

surge except apple doesn't believe in the beauty contest approach. >> north carolina. i love it. i'm from there. elon musk headline for us if we can't wait. >> this when i will put out there that you decide to his elon musk serious? just unhappy where you decide yesterday treated he plans to create a site to rate the credibility of journalists and news organizations and suggest after the former soviet union made topic and i'll let. the holier than thou hypocrisy of big media companies and reporters who are under pressure to get it, quote, max clicks online. you didn't stop there. >> doesn't have other things to worry about? >> what model three?

>> the media loves elon musk because it's a great copy. >> he keeps giving us good stories every morning. thank you very much. see you later on. >> the trump administration wants to slap tariffs on foreign cars they bubbled the impact be for consumers in markets? we'll take a look. the latest on the hawaii volcano eruption. we are now seeing blue flames. will explain. u.s. stock market futures at the quiet opening. the dow down six points from s&p up one. nasdaq one up almost 10. you are watching train someone. -- "fbn:am" ♪ how do you win at business? stay at laquinta. where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander

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when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. >> welcome back. a pitcher caught up in what's happening now. let's see if we can repeat yesterday. dow only down by five points. s&p and nasdaq are higher in th. quiet market so far this thursday morning. video showing cracks in the road near the kilauea volcano in hawaii are shooting blue flames. take a look at this.

combination and underground vegetation caused messy gas to ignite. dozens of residents evacuated over the past two weeks as volcanic eruptions continue on hawaii's big island. new york federal judge has ruled president trump cannot lock people in twitter could the judge found the president violates the first amendment when he bought twitter users for their political views. the case came about when the president was sued by a pre-church group in july 2017. president trump is that several critics in the past. text messages between anti-trump fbi officials have been released and top senate republican chuck grassley is criticizing on one t suggesting the obama white house is running this when referencing an unspecified investigation. that is what is happening now. over to you.

gerri: the trump administration wants to trap flap slightly higher tariffs as a matter of national security. this morning, china saying it will firmly defend its rights and interests. with the impact on consumers and investors? the national taxpayers union and upper brenner people's united wealth management join us. maddy, i'll start with you. this is mostly aimed at a chevrolet. toyota, nissan, honda. mostly impacted, not necessarily products from china. how is this a matter of national security? >> got to question the trump administration will be asking. the trump administration is talked about suspending businesses. now we see the new announcement that tariffs would be narrowly

executed on auto goods and that is something that raises a question of what is the intended effect here? as we move into the second quarter of this year, we've got the economy starting to turn again after tax reform. i worry the uncertainty that the trade practices right now will undo some of the good we've seen. gerri: there's a lot here and i want to reiterate the top of the show. they talk about a terror for 25% up from 2.5%. so it's not like there will be no impact. no one asked the question quickly. what impact will it have on the market. not a lot of time yesterday for markets to react to headlines. >> the markets did react yesterday. i'm not sure i agree with you that asia. i actually think this is a bargaining chip the administration is using with canada and mexico.

to advance the nafta negotiations. >> something trump said on that very point. listen to this. >> they've been taking advantage of the united states for a long time. i am not happy with their request, but i will tell you in the end we will win and we will win big. >> alpert, your reaction to that. >> i am not sure what taking advantage means in that particular case. the president is planning the industrial midwest, the rust belt while i grew up in fact to take a position that he perceived as going to bring jobs back to the auto industry. now, in fact, most of those jobs were lost necessarily two plants in canada or mexico.

probably more to robots and technology. >> interesting. such a complicated topic and so difficult to understand the ramifications. some auto companies now saying that they don't believe this is a great idea this new big terrace. the chief executive of global automakers, an industry trade group says this. to our knowledge, nobody's asking for this protection. it leads inevitably to future is designed cars and trucks in america. do they have that right? >> i don't think it's surprising to hear the opinion. the broader context of trade policy is an important one. with negotiations when they first heard the trump administration suspending tariffs on steel partners, that was enough for it to move forward. we are past the deadline where

they thought we might be negotiated and submitted to congress. the question of how well does this technique actually work. if we look at what is happening with asian markets and whether this is signaling to our other trade partners what we might be doing for the question remains whether that will be effective. gerri: one of the question here that a lot of a lot of people left this a lot of people left this morning is how do consumers react. they love a lot of cars from honda and toyota. that is yet to be answered. thank you for coming in. great to speak with you. cheryl: well, coming up, a very special event honoring a very special woman. >> a lot of money to save other lives than other women. gerri: s., talking about the woman right yesterday. you are watching "fbn:am."

[music playing] (vo) from day one, we always came through for our customers. it's how we earned your trust. until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852. re-established 2018. [fbi agent] you're a brave man, your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible.

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cheryl: bolcom the susan g, new york fundraiser was held yesterday here in mid-manhattan in her very own gerri willis was honored with their image award. what a great event, gerri. gerri: m. so glad you're with us. a great time, a ton of fox people. i want to tell you about the coleman foundation. over 36 your life come is raised $30 million for breast cancer research in women with breast cancer started by the former ambassador commended to drink to honor her sister who died of breast cancer. they raised more money than any other organization.

although we don't have the final numbers yet, executive sunny day with half a million just that yesterday's lunch. it was a new record. i was privileged to speak. look at the group of fox people. so cool. i was privileged to speak at yesterday's event and todd meister combated stage three lobular breast cancer. most important to me was the challenge of coping with the diagnosis of a life-threatening disease. listen. >> i was face-to-face with my fear. for the first time, what is cancer one and i lost? i never did get back to normal, ever. i wasn't the same old gerri. i was better. i was more patient. i knew what was important. by embracing a diagnosis, i was able to contribute to the incredible efforts by my doctors at

life. for me coming the experience was humbling and inspiring. it made me appreciate my life and the gift god gives us. all of these producers bring back so many memories. yesterday's event was made that much sweeter by the incredible support of the fox team. that is our new fox ceo suzanne scott right there. she was proud. not in pink, but she was there. i so appreciate her being there. she is the only female ceo of a television news network. i also have to thank jeff smith and his team. they were there. chef actually purchased a table for us. he couldn't be there because he was on vacation, but it was so great to have his team on hand. so many anchors and reporters there. martha mccollum from the left, and the airheart, cheryl smith. and yes, cheryl, you are there,.

>> what gerri fought through, her strength, her dignity. >> gerri kimberly love her. she's been through so much and we support her. i just love her and she has a heart of gold. gerri: i have to tell you, it is overwhelming to hear that. cheryl: your speech was very emotional. everyone is so dialed into fear and when you were getting treatment. wait a second, i'm not sick at that one moment in the room where you realize wow, i actually have cancer. there was a delayed reaction you said. gerri: was a delayed reaction and i was a big moment for me. some people never embrace it. it is difficult to cope with. i did tell the audience at the beginning of the speech, you know what come you can't cry and

cancer because if you cry when you're given a speech in the right to become her false eyelashes will fall right off. cheryl: you did say that. it was a fun event. you get degraded by us going in. guess who's going to grand cayman thanks to susan g. komen. it was really fun. got into some fun bidding wars. it was a wonderful group of women and it's nice to see women supporting women. congratulations. gerri: support the susan g. komen. that's my message today. cheryl: things hitting a -- he did not. kroeker making another big move online, jumping into the mail delivery business. mcdonald's has a new meal delivery plan for your next corporate event. think about that. kind of a flat start to your thursday which is okay yesterday. s&p a three quarters aspect of byte eight. you are watching "fbn:am."

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and get to the heart of what matters.

>> we now call us by agape. a lot of bad things that happen. they want them all together. they will work it out. >> two key key intelligence briefing today on an fbi informant who in iraq and with the trump campaign in the 2016 election. a live report from washington coming out. >> investors focused more on the fed then trade into a 52-point gain after signals would hike interest rates only gradually. cheryl: kind of a mixed bag, but a pretty flat thursday. the dow was down 13, s&p up a quarter, up seven points five. >> auto stocks under pressure

following the announcement of u.s. tariffs on imported cars. 25%. cheryl: stocks in asia next. japan's nikkei down 1%. hong kong stock a little bit higher. gerri: mcdonald's fans rejoice. the golden arches testing. they'll bring it to you. get your news right now. 5:31 a.m. in new york. thursday, may 24th. it's breakfast time. i'm cheryl casone. gerri: good morning. i'm gerri willis. we could order little bit donalds. what would you get? cheryl: i would get pancakes. gerri: i like the egg and sausage biscuit. top justice department and fbi officials that too brief a bipartisan group of lawmakers

today shortly after they meet with key republicans to discuss an fbi informant who spoke with the trump campaign in 2016. cheryl: griff jenkins live in washington with the details of the two separate meetings we are having today. good morning. reporter: good morning good presents for breakfast or in washington. two high-level ones. democrats have is the one of them. questions of whether the campaign in 2015. it would be unprecedented. >> a very serious event. when i look at the documents, i hope it's not so because if it is, there's never been anything like it in the history of our country. we now call us by agape. reporter: the first meeting break devin nunes and trey gowdy includes the participants, fbi

director chris make him a deputy attorney general rod rosenstein in chief of staff john kelly. a second meeting with added dr. democrats complained which gowdy welcomed as long as no one leaks. >> i don't care who called the spirit are not in control of the invite list. if you're going to show up, show up with an open mind. onward stoneleigh, when we get to at the meeting. >> the briefing takes place two hours later and is broadened to the gang of eight included democrats and republicans in each. nancy pelosi had this to say. >> they shouldn't be republican briefing. i've never seen anything like this. it's highly unusual you would have such a briefing in the middle of an investigation and that it should be partisan is totally done except the boat. >> one that won't be there, speaker paul ryan with a long-standing scheduled commitment. for the outcome of the

briefings, they are classified so we won't know unless there are leaks. cheryl: griff, thank you very much, sir. capri cafaro and lloyd matheson and with us. capri at the school of public affairs and also "washtington examiner" contributor. chief of staff for mike lee and joins us. look, the truth is the truth needs to be revealed whether allegations from the president are true or false. it does want these meetings today. there's two separate meetings that they are being accused of playing politics. they'll have the meeting with chief of john kelly, gowdy and nuñez. a lot of political opposition and whether it's one meeting or several meetings. they get to the truth.

the issue at stake here. the thing we are losing in all of this is the confidence in the government, which is spreading across the country and people are exhausted by that. so as we look at that, if your government can spy on you, why do you come at target you, that there undermines everything about your society. they need to have the meeting. they need to get down to the truth. it's an interesting play in terms of what happens because now suddenly you've got collusion been flipped on its head once again that were going as a country. >> i've got to tell you, the bank this is a red line especially when it comes to an informant that matters the president is asking to reveal the identity and tell us did this really happen.

infiltrators current participants in a campaign for appropriate purposes. we need to know about it. present day and seems to be onboard with all of this. >> as well you should be. no question if there was some nefarious motivation behind infiltration. certainly line for his neck, fbi in particular in the department of justice do need to know abous a clear understanding of the individual confidential informants or utilize frequently individuals that are trying to glean information on behalf of the fbi on the investigative process and that's not necessarily unusual. i think that is what people are trying to get to the bottom of this point. i wish these two meetings were together to take away the issue on politicizing this.

because it's classified, all we can do is speculate. cheryl: guess what else wants to be included in there. grassley, graham, john corning from texas. we do know with the second meeting with the gang of eight that nancy pelosi is going to be there. mark warner from this to happen and forever be a block on his record. you can't be so afraid of the hard right and the president that he would allow this kind of banana republic behavior to go forward. >> some people want speak or write to go now instead of waiting until november. that's a separate issue. do you think republicans are making a mistake in how they had

something that the intelligence issue. >> it is a mistake the way they played this thing out. as capri ripped aside, this is not left or right. this is about the truth. we need to pull back from there. on the floor of the united states senate, those allegations are charged and that's the problem. we have to remember the truth exonerates in the truth convicts. let's get to that. that's where removed its investigation into the quickly so we can get and move forward with governing. that's at the american people want out of all of this. cheryl: trey gowdy said the only thing that you show up with an open mind "-end-quotes. we'll see how long that lasts. thank you very much. appreciate it, guys. gerri: one billionaire is betting big on home improvement retailer lowe's. cheryl: tracee carrasco has that

story another headlines. good morning, again. >> good morning. >> anachronistic and a $1 billion take in lowe's which we know has been struggling. you'd avoid the retail or following some bad bets on jcpenney and target. this comes one day earlier with those announced it had hired ceo marvin allison away from jcpenney. shares jumped more than 10% following the news. trained to operate. kroeger getting into the new kid business. who is in at this point. this is the second deal in recent weeks to try and boost its online business. kroeger is buying home chef, the largest private military company in the u.s. just last week, kroeger was acquiring british online grocery to open a series of automated warehouse for grocery delivery in the u.s. kroeger under pressure to keep up with amazon and wal-mart who are also in the new kid business as well. gerri: i'm just waiting for them

to come there hasn't start making dinner. a great mcdonald's story. is that right? >> yes, how would you like to donald delivered to your business breakfast meeting, family gathering. cheryl: morning show. >> there you go. nearly 200 locations with males that have six, 12 or 18 people. different options for the meal that comes if they'd make must they'd make methane from the sausage. choose the griddles, hashbrowns, fruit and yogurt parfaits. drinks like coffee, orange juice as well available. it includes the standard uber eads. cheryl: sinus out. >> i think we have enough people to get an order going. cheryl: thank you very much. now i'm hungry. we've got a lot more coming up for you. police on the hunt this morning for this man. he seemed going on a rampage with a sledgehammer all over a

road rage incident. we've got the video. take a look at futures right now. this is okay today. the dow is only down by nine points. s&p up to one in the quarter, nasdaq up 1.5. you are watching "fbn:am." brighthouse financial allow you to take advantage of growth opportunities... with a level of protection in down markets. so you can be less concerned about your retirement savings. talk with your advisor about shield annuities from brighthouse financial- established by metlife. (group conversation) ♪wooooo oo waa ahhh ♪it's a beautiful mornin' thank you ♪ahhh, ah ahhh ♪each bird

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gerri: welcome back. let's get you caught up in what's happening now. check in u.s. futures right now. the dow down six points, s&p up one, nasdaq up time. the u.s. expelling two venezuelan diplomat and a tit-for-tat retaliation following nicholas maduro's reelection. venezuela exiled to americans, south americans -- sorry, to top american diplomat from caracas that the response came after washington criticized venezuelan elections and impose new sanctions. senate minority leader chuck schumer is casting the blame for higher gas prices on president trump. >> whatever benefits they might have seen from president trump tax scam for the rich is being ripped out by the gas hike president trump is responsible for. to make the decision to reimpose on a grand.

the average u.s. price for gas said that it was about $2.94 a gallon. road rage in the philadelphia parking lot sparks a vicious sledgehammer attack. take a look at these pictures as security footage shows a man taking a hammer to a window before hitting the passenger who fell out. the men chasing after the car with a sledgehammer breaking the rear window. police are still looking for the suspect and the victims this morning. this is why you don't have a sledgehammer in your trunk. cheryl: what is wrong with people? that video is crazy, wow. a lot more coming up. you made this call -- called us crazy or least controversial. do stand up or stay on the field during the national anthem. the nfl has a new policy on the protests last season. not everybody is you can expect is happy about this. it is do or die time for the

cleveland, cavaliers as they pushed them to the brink in game five of the nba playoffs. we've got the highlights coming up next at looking at u.s. stock market futures on this thursday after the wild ride at the dow is only down by three. s&p up one and a quarter, nasdaq up one and a quarter. we'll be right back. ♪ how do you win at business?

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cheryl: after much deliberation and a lot of controversy, nfl owners have approved a policy for players kneeling during the national anthem. you stand or used as the field. tremendous fun as "usa today" and the faux columnist mike jones who just got back from covering the league meetings in atlanta.

good morning. >> good morning. how are you. cheryl: let our viewers know exactly what they have decided. this is what the owners have said. all that personnel that got a stand. i want to show our viewers back. they are not required to be on the field during the national anthem. that is the players. also, they have to face fines, do face fines come into face fines, do teams do come face fines come into teams to come his players around the field and they do not stand. pretty extreme language. is this going to create more controversy? >> yes, i think it is going to create controversy because of the fact this is in a uniform thing. there were owners who very much were against the protesting angrily insisted on instituting this policy. do you have owners that christopher johnson with the jets who said not going to find players of their protesting. then you have other players who are confused because they must stand and shouldn't do anything

to disrespect the flag. what counts is disrespect in the flag. you know, there's so much gray room there that it is. >> there is a lot of gray amends. this is going to be a heck of a season. the players association made the statement and this is what they are saying. the nfl chose the new policy. the vote by the club contradicts the statements made to our player leadership by commissioner roger caddell and the chairman of the council about the values of patriotism of early. you've got to say here, this does seem to be a change of a hard on goodell is hard. >> you are right, but you've got to remember the owners were worried about this protest hurting the popularity of the game, upsetting the fans. they are doing this as a

business decision come even though a number of supporters, players speaking out, using their platform. that is why they felt like they had to do something. >> a lot of these players will take this like a swipe at them. they made it clear by this decision yesterday they want people to go out there and play football because of some people like jerry jones and the cowboys have said, it is your job to work for the team and depending on the owner of the owner of the team can say you work for me, you need to respect the five or get off the field. this is going to be a team by team stories starting next season. that seems to me a ratings disaster and will create more controversy and ill will. >> you're exactly right. you may be in seattle one week and you might go down to houston for you definitely cannot. our car is going to say fine i will pay the fine and deal with

it, or it's not going to dodge this issue is not going to die. >> wait until the season starts. mike jones, thank you for joining us. >> great story. last night game will decide you has to the stanley cup final. waiting a long time for this game and he didn't waste any time getting his team on board. just a minute and two seconds into the game. capitol state game seven in move on to the golden knights in the stanley cup finals. game one is monday. jason k. down on the boston celtics trying to pull out of the cavaliers strong defense and 24-point help them do just that. they are now a three to two on the cavaliers as the series heads back to cleveland. cheryl: again vegas, hockey.

coming up, president trump calling for new tariffs on imported vehicles. live report from london and reaction from across the pond. that is coming out. ♪ today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852. re-established 2018. [fbi agent] you're a brave man, your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv.

you must become invisible. [hero] i'll take my chances.

cheryl: the trump administration with a plan to impose that the higher tariffs on imported

vehicles citing national security. scott showed he joins us now from london. good morning. a lot of the shares of bmw taking a big hit on this news today. >> well, here we go through the playbook of donald trump. a lot of times we don't get a lot of accomplishments and we do bring issues to the forefront. i know we've got issues with japan and south korea being caught in the crosshairs on this one. at the end of the day, that's his platform and will await and see what comes up in tennessee where these chips fall. he's done this with everything else and maybe not accomplished as much as we thought he would. we still think what nobody has done that. a list of demands for stating the nuclear deal with the array. they are asking for the world. >> what is their bargaining

stance? where did they come from two list of demands number one. number two is i'm old enough to remember the iran hostages. we don't trust them at all and they've been accused of proliferating a second site of more nuclear arms. they are trusted. they've proven to break deals in the past. where they get off telling us where we have to behave. at the end of the day, they are not to be trusted. we have to be careful and watch her run backs on this one. cheryl: u.s. markets have been react into geopolitical concerns. of course talking about the north korea summit. any reaction to that news over there? >> here's the deal. we need to see what is going to be the new leader. it just so happens that we are going sideways because we haven't had the new leader show up. right now we have to solidify where we arrived before we can find it in go higher. >> thank you so much.

great stuff as always. >> thank you for watching "fbn:am." we now send it over to maria bartiromo. good morning, maria. >> good morning, everybody. i am maria bartiromo. thursday, may 24th. 6:00 a.m. on the east coast. trade tensions driven markets this morning. searching for direction flat on the section so far. dow investors of three-point ohs to be appointed by the nasdaq up 11 points after the major indices after the minutes of the last federal reserve meeting came out an hour came out an hour and a half before the close. the central bank signaling an increase next month at the june meeting. joe industrials finishing the day up 52 points. s&p 500 up a third of a percent. a point higher up two thirds of a percent. global markets look like this. ft 100 rack by three points. the cac of 27 is a half a

percent admitted index up by 21. markets finished mostly lower. hang seng up a third of a percent but the others were lower. nikkei average in japan better than 1%. back on the table the trump administration now considering a charge on auto import citing national security laws. the implications for the industry. massive job cuts are coming at richard bank again. the company announcing it will cut 7000 jobs. stalked someone for 5%% on the news. what a day yesterday. john flannery warning of no and the profit business. no guarantee about the future of the dividend. the census.plummeting. looking to rebound from the selloff yesterday down better than