i'm jamie colby. thanks so much for watching "strange inheritance." and remember -- you can't take it with you. [ crowd cheering ] >> is the united states winning the battle and if so how? >> again, the president is focused on not the short-term come but the long-term. cheryl: britain this morning, the president opus on the long-term china facing the tariff deadline. cheney said the u.s. would shoot itself in the foot of the president pulls the trigger on the terrace. transfer markets focused on the u.s. economy. the dow down 132 points in a short session on day. trained to look at features right now. some optimism on this thursday morning. the dow up 85 in the premarket

at s&p of 11 and a quarter. nasdaq up 30. >> europe stocks open higher on hopes the u.s. will suspend tariffs on european good. take a look right now, the ftse up 19 tennessee ac of 36 in the dax up 133-point beard drinking german automaker stocks to involve this morning. take a look at stocks in asia all over as the trade deadline on the chinese is looming. tumor at midnight facts from japan and shanghai down 1%. gerri netflix test and a high-end subscription service with definition stream. but will people pay for it. "fbn:am" starts right now. cheryl: 5:01 a.m. in new york. thursday, july 5th, the day after july 4th. i'm cheryl casone.

>> good morning. i am tracey carrasco and for lauren simonetti. drink your netflix is playing extra i will go ahead. a lot to get to this morning. a lot of this happening on your holiday. china says it will not fire the first shot in a trade fight with the u.s. beijing making the announcement is the u.s. and china prepare to impose tariffs on each other tomorrow. the u.s. has to hit china to 25% tariff on $35 billion worth of chinese products in china is due to retaliate same day with terrorists on an equal amount of u.s. export. cheryl: president trump telling maria bartiromo she is focused on straightening out the trade deal. >> would have a trade with china. nobody bothered to make a deal. l. church 25% for a card which urged to .5%. you've used the numbers on the show and i don't want to bore people. we have the worst trade deals in the world.

we are losing money with everybody. tracee: german chancellor angela merkel warning any u.s. tariffs on imports from europe could trigger a trade war. it was not a tiny% tariff on european cars as e.u. trade barriers are not lowered. cheryl: president trump searched for a new supreme court justice now reportedly focusing on three federal judges. "the wall street journal" said they are judges brett kavanaugh of maryland, remain catledge and amy connie barrett and indiana. the plan country president plans to announce this today before his trip to europe. >> you'll be very impressed. you'll really love it. >> mike pence has met with some of these potential candidates. tracee: to president bush and his idea to create a space for us during the fourth of july picnic.

>> repair very well may have the space for us. you've been hearing about that. everyone is very excited about that. transfer the president scheduled to let a big rally in great falls, montana today. in new york, a woman who climbed the statue of liberty two. manhattan today. roughly four-hour standoff causing the evacuation of liberty island playing out live on television. she was protesting the separation of children from parents across the border illegally. >> we took our time. the rescue from where we were. the angles we had to go on was difficult. there's nothing for for us to

grab. cheryl: listening to a spokesman for the n.y.p.d. to get her off the statue of liberty. before cramming the statue, the woman participated in a theater. calling for the passionate. >> quite a scene. to make investors returning from a holiday week here to look at the minutes from last month for the federal reserve meeting at the fedex acted interest rates by a quarter of point. the minutes could also shut the light on the outlook for a faster pace of rate hikes and have trade tensions could affect the economy. true into we are going to get the jobs report for june tomorrow morning. the economy expected 195,000 jobs last month with the unemployment rate holding steady. the expectation. this is where people are job hopping. we are going to have complete

coverage analysis center changing job markets. "mornings with maria" will have the jobs in america special starting tomorrow morning at 8:00 a.m. eastern time. >> still seen an expensive option for your netflix subscription. it ultra hd. one step above the premium plan. offers for $13.99 with the plan will cost $17 a month that gives you access to other hd contacted netflix reportedly testing different price points in order to see how consumer values are viewing experience. cheryl: how to cut the cord which is that netflix is trying to do. wal-mart has pulled a line of controversial clothing from its website after sparked outrage in social media. the shares and baby wednesdays

dared the words in page 45 referring to president trump result of wal-mart's website and the the commentator question the company's motives. here is to treat gerd wal-mart, were you selling him peach 45 baby clothes on your website. what kind of message are you trying to send? the tree prompted a lot of trunk supporters to call for the boycott. that's what they said that these items were sold by third party fellows on her open marketplace and were not offered directly by wal-mart. we were moved items. the clothing has been as of now removed from wal-marts website, and that they do remain on sale on amazon and a lot of other online retailers. >> celebrating american-style yesterday becoming a u.s. citizen spurt day. >> i don't have much family on

this. not for me, but for everybody else. very special moment that a lot of people wish for entering a period >> indeed very special celebrations. taking place across the nation of immigrants from 50 different countries taking the oath of allegiance. a total of 163,000 people have become u.s. citizens from a 55% increase from last year. cheryl: congratulations from all of them. tracee: fireworks sales are making a bang with estimates showing that americans could spend a record amount on roman candles this year. have a growing number of states have rolled back regulations on fireworks sales, revenue could reach as high as $900 million for the year. some of the revenue contributed to by macy's. a whopping $6 million in yesterday's fourth of july spectacular.

in fact, the biggest firework since the millennial celebration all the way back in 2000. people they're trying to sit on the westside. they miss holiday. >> slept right through it. coming up, tied rescuers struggle to come up with a plan with a plan to see the boys soccer team trapped in a cave. we will have the latest on the rescue efforts. is there any relief in sight for the heat wave gripping much of the nation? janice dean has the forecasting u.s. stock index futures cdnow to the gallup 79 points. s&p 500 up by 11, nasdaq up by 25-foot five. you are watching "fbn:am." ♪ the employee of the year, anna.

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cheryl: welcome back. checking u.s. futures, take a look at the board. s&p 500 up 11, nasdaq up 29 of the shortened trading week. secretary of state mike pompeo en route to north korea today to meet with kim jong un and what will be his third trip this

year. reach an agreement on a roadmap to denuclearization. kim made a broad commitment to work towards that with president trump. rescuers in thailand are no closer to knowing when and how to extract 12 boys in their soccer coach from a flooded cave after they went missing for nine days. teaching the boys how to use good beginner and will have to decide they are strong enough to make the long journey out of the complex cave system. the appear to be in good spirits as crews continue construct dams and pump water out of the cave. u.k. police say two more people have been exposed to the same russian nerve agent that hospitalized this by four months ago. the incident is likely to reignite controversy over accusations that russia had a hand in the tax. that is what is happening now.

>> is happening at home from a large wildfires fueled by the hot and dry weather hitting the west hard right now. a look at colorado has more than 100 homes there. over 2000 people had been evacuated. this is the third largest fire in colorado since jury. >> i was worried about this in the middle of winter. here it is. cheryl: dairy days. california firefighters making progress against a wildfire near sacramento that threatens hundreds of billions fair. about 25% contained at the fire has burned 130 square miles since saturday. i see no common things in california were early. tracee: very scary to see. the tents in california and colorado were among the few who went without fireworks this fourth of july. instead, residents watched hundreds of led lights shine in

the sky of as officials experimented with drone displays. the safer alternative to fireworks in places affected by the wildfires. see that on your screen right now. spec caters thinking for a nice alternative but of course nothing beats the fireworks boomed. >> unless your dog. cheryl: you don't want to hear fireworks. before you head out the door, and the pitcher thursday forecast. i have a feeling you were not awake for fireworks last night. >> i was awoken by fireworks are not going to lie. i went back to sleep that there is the good news. current temperature is getting a little bit if you've relief across the northeast. 77 right now in new york and the humidity is down for much of the northeast. you can see parts of the southeast as well. 74 in mobile, 77 in tulsa and behind that cooler air across the northern rockies.

sliding yesterday across houston as they got got a batch of very happy rainfall. flooding was happening in thankfully the worst is over. we could see a sprinkle or two of showers as things start to dissipate. he mentioned the danger across the u.s. how hard is it going to be? above average. heat warning in effect for the desert southwest including california and los angeles a hundred for dean. and now back to more seasonal temperatures. we will start to level off across terms of the heat. ladies come 82 in new york city

and beautiful as we head into the weekend for the northeast. train to the northeast seagrave is starting to go away. >> thank you. coming up, china has backed off a first strike response in a trade for the head of a friday deadline for terrorists. how are investors going to react to the back-and-forth between the two countries? a woman arrested for climbing the statue of liberty to protest ice. will it eat up winning campaign issue for democrats? our political panel will weigh in on that good-looking it features right now. the positive open to your thursday. the dow debuted in the premarket come s&p up by 12, nasdaq up by 30. you are watching "fbn:am." ♪

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tree into well come a trade showdown looming between the united states and china. the u.s. during the terrace on billions of dollars of chinese goods with china still promising to retaliate the question is when they will retaliate in how the market will react to follow this continues. president diversified private wealth advisors is with us this morning. here is the short-term issue for investors is you've got the deadline for the u.s. to impose their tariffs. 25% on 34 billion worth of chinese could, auto parts, medical instruments come aerospace i.t. that's it 12:01 a.m. eastern time tomorrow night. that is 12 hours behind beijing. beijing has to figure out if they're going to wait.

do you think the u.s. would wait? >> no, i don't. trump is committed to going down this road in pushing it to the edge. china will be reactive. they were not going to be the first ones to launch this, but they'll be reactive. i wouldn't be surprised if they've reacted whatever we do in total dollars, they'll do the same. cheryl: if you're an investor, the first round as far as u.s. companies retaliate, which they will at dinnertime, and soybeans, cash crops, looking at the commodity side of it. what about the chinese exports into this country? what about auto parts? an american company depending on the shipments, would be trying to do right now? >> some of these companies frontloaded their imports and exports because they anticipated it might come down to this

finish line here. if you look at what is going on in this country, they will take the brunt of it to soybean farmers pork and chicken. these guys will take it on the chin and the result is around margins, their own profits get cut and it's a cascading effect to the rest of our economy. cheryl: there is a report, and overall outlook looking at global trade that says that global trade that powered the markets in 2017 is coming to almost a screeching halt in 20 team, which would make sense as we've been going back and forth with these tariffs. but that is a global market drive, dominic. would you tell people? >> that's exactly the point. right now if you look at the u.s. markets, they call that pretty well. the dow slightly down for the year, but we are at a wait and hold pattern. a most unusual when you look at the fantastic quarter and earnings we had this year. really our hoping for the best

outcome here but the negotiating tactic by trump and not mutually assured distraction. cheryl: that's a good way to put it. i want to get your thoughts and what we are hearing out of the german newspaper this morning. one of the reasons the dax is much higher in the premarket, markets are up in 1%. richard grenell come u.s. ambassador to germany reported that he told german automaker officials that if they backed off on tariffs with imports that the u.s. would back off with regards to their export. if you come up with a zero sum with a zero-sum ballads we can basically negotiate. what do you make of that? >> a lot of negotiation going on behind the scenes. that would be customary in these circumstances. this is important to them that they resolve it. they can have a scenario where their economy goes into recession as we know otto served it hurt their economy. behind the scenes everybody

wants to figure this out and resolve it. i will use the word as fairly as possible. >> will see if the president treats about it today. dominate, thank you very much. good to see you. tracee: a protester arrested for the statue of liberty. our political can always send. up in their estimate for friday's job numbers. that pushed the federal reserve. we will take a look at that. let's take a look at those. the dow up now by 92. the nasdaq up a 30-point type. you are watching "fbn:am." ♪

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>> we just mention the kids in texas. the whole debate going on right now. >> a woman arrested after climbing the statue of liberty to protest the trump administration immigration policies. but is it a good campaign strategy for democrats who got a political panel coming up in the moment? >> markets focus closely on trade tensions ahead of a looming deadline and china terrace. the dow down 132 points and historic session on tuesday. >> take a look of a futures are looking like. strong opening signals. we shall see. the dow was up 93 in the premarket. s&p at 12 and a quarter. >> in europe stocks open higher on hopes the u.s. will put tariffs on european goods. the ftse up by 20, cac before did commit dax by 133.

>> 1% gain in germany. comments coming from a u.s. ambassador. stocks lower as the trade between china and the u.s. and stocks in japan showed pressure. the shanghai composite down 1%. >> were stronger than expected jobs report pushed the fed to be more aggressive in its rate hikes. "fbn:am" continues right now. cheryl: 5:30 a.m. in new york. the morning after fireworks. i'm cheryl casone. tracee: good morning. i'm in for lauren simonetti. did you have a nice fourth? >> i did because fireworks did wake me up. tracee: americans celebrate fourth of july yesterday. protesters nationwide had a plan

the most notable, this woman scaling the statue of liberty to protest a trump administration immigration policy. she said she wouldn't come down until all the children were free. another group dropping this abolished ice banner near the statue. >> more democratic lawmakers are joining this protesters in their fight. let's listen. >> we believe that we should protect families that need our help. that is why i believe you should get rid of that, start over, reimagine it and build something that actually works. >> what a group of incompetents. at this point they're focused on todd burstyn terrace instead of stopping drugs from coming in. they are focusing on separating kids from their families. >> some democrats saying they are going to make abolishing

same-sex part of their midterm platform. they told maria bartiromo he's not worried about it affect the votes. >> between maxine waters and nancy pelosi and having open borders. the biggest thing you have open borders all it's going to do is lead to massive crime. that's going to be their platform. i think they'll never win another election. >> will democrats abolish i.c.e. platform backfire? >> john jordan to the democratic from dnc national political do for all abelard. good morning. spirit good morning. would you say? is this going to be a wedding or a bad strategy for democrats in november if they really take i.c.e. up as their platform.

>> colossal loser. mark is a longtime clinton pollster shows 69% of the american public support stronger border enforcement not weaker and 64% support turning people into this country illegally away. the simpler, since we don't look at bases for a blue wave to happen in a closely divided country means that the other half, the republican house would not show up to vote. you cannot have a way for both sides show up as a wash, and basically what the democrats have done here, they've jumped it so far that they've guaranteed a strong republican turnout. >> these are not small name democrats roll. the supporting this, you've got senator gillibrand, elizabeth warren, mayor build the blog new york city obviously. the big story here is cortez. she had a huge upset victory in the primary here in new york

city. it got these other dems and that's the strategy. she's a socialist. she's the one in for democrats, attaching a train to hear. >> it's a bigger issue in these families been separated for your children been separated from their families is going to be what's going to help democrats in the midterms. >> that is the cpb. a different government agencies. i.c.e. is not responsible for border protection. >> you're absolutely right. i don't think any democrat open for borders or anything like that. but we need to do is look at what some of the issues facing i.c.e. and had we fixed some of those issues, not totally abolish it. to see what some of the problems are. again, what will resonate with voters in america is seeing these families separated from

their children. nobody wants to see that whether you're republican or democrat. cheryl: again, but that i'm saying the democrat may be going down the wrong road here because i.c.e. does not protect the borders. they handle immigration. i want to share a president trump treated about this. anyway, he said basically weak on border and crime all due in november. our country was saved the security. the presidents will be staying in november. >> republican candidates and the democrats are for open borders. when big-name parties are calling for the abolition that enforces inside the country and doesn't want a lot and support sanctuary cities which 80% of the american public opposed. that's a disingenuous way of

your open for borders. the american people or with trump on this even if 80% were horrified provisions of the pictures of the children a few weeks ago. 55% of the american public is on aggregate for him. >> at the same time, the other issue is going to be the economy. the jobs report tomorrow and democrats will have a lot to stand on there because unemployment through 20%. wages watching that. the economy could be something the democrats will have a struggle with the november. >> faq talking about how democrats will improve the economy and ensure that there are jobs for folks out there across this country, i think they'll do well. every day there's an issue we have to talk about. as you said, the economy is going to be a big piece of that. if we keep driving how many do have higher wages for folks and

make sure people are getting jobs equivalent with what they're doing. it's an important message. >> top issue for republican issues in november, what is that? >> peace and prosperity. they said the economy would be in all improvement of roads conflicts throughout the world because of trump. a huge disconnect between what the mainstream media says and what has actually happened. the american people are wise to that. >> john jordan, apple are coming to new macs are much. >> thank you. tracee: thousands of barrels of kentucky bourbon shattered after bourbon factory collapses. an economist has been up in their estimates for friday's job numbers. we would get a really good report. u.s. stock index futures right

now. continuing decline. dow futures up by 118. s&p 500 up by 14.5. you are watching "fbn:am." ♪

cheryl: welcome back. let's get you caught up on what's happening now. margaret took an strong after taking the day off yesterday for the july 4th holiday. the dow up 126 in the premarket. s&p down 15 and a quarter. nasdaq up 37 points five. today may be a different story, though. cheryl: police in brazil arrested and had general electric and latin america as part of a corruption investigation into an alleged health care cartel. operate more than two decades. prosecutors accuse him of taking part on the cartel before he joined ge. chairman and cofounder of conglomerate h&h group has died after a fall in france. he was 57. visiting a church when he stood on a wall for a photo before losing his balance and falling more than 30 feet. they cofounded more than two decades ago going into one of china's largest private

companies. starbucks has lost another high-level executive as the chief ethics officer matthew shedd has quietly left the company. that was announced just last week. it helps up down with executive chairman of the company. >> the kentucky bourbon warehouse is completely flattened. the rest of the 18,000 barrels of bourbon. it's unknown how many girls are salvageable. this is just sadness to is just sad mr. bring it on thursday. tracee: welcome the labor department has released a jobs report tomorrow morning. that is the lowest since april

april 2000. china may now, senior analyst, ian king. >> nice to see you again. jobs report out tomorrow. the average hourly word means we've seen in april that it quit their jobs. i don't recommend you try this at home but people are quitting jobs because they are getting paid higher when the transfer during the new job. this phenomenon which hasn't happened since 2001 will eventually start the average hourly earnings in this inflationary. >> i want to mention last month they sent out this week ahead of the jobs report. employment numbers at 8:30 this morning. it foreshadowed a positive report, which it was positive. all investors be watching the presidents twitter feed tomorrow

morning? >> hopefully they will make the mistake. getting to the point where good news for the economy can be bad news for the market because the fed will be more hawkish in case of interest rate increases going to pick up if we start to see data that's inflationary and that comes down to whether people are making more money in their job. >> let's talk a little bit about the average hourly earnings. they are a device a 0.3% in june which would work out to an annual growth rate of two pointy%. very close to january's 2.9% which sparked worries about inflation and. what do you think will happen? >> in january you had a 2.9% year-over-year growth backed off since then. ever see a print above 3%, we

will see some fireworks in the market we haven't seen in quite some time. the year-over-year pace. >> quickly before we go, the fed minutes coming out today from the june meeting. what do you expect them? >> what the fed meeting in june, i recently hiked rates 25 basis point in the economy is great. they will be optimistic here. one thing to watch for is whether or not the fed trade wars going on. this is impacting the future. tracee: thank you, ian. cheryl: we've got the features really picking up right now. 155 right now. fed minutes can be positive or negative. we've got a lot more coming up on the show appeared in sports, america's favorite pastime takes

center stage on the fourth of july. jared maxa though the paycheck highlight. a new record for the famous hot dog eating contest. now a little bit of controversy. taking a look at this futures. power nap right now dow up 152. s&p up 17 and three quarters, nasdaq up 48 and a quarter. the shortened session at tsa for your market. you are watching "fbn:am." is te in the u.s. to have 100% renewable energy goal.

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>> welcome back. but rhetoric to celebrate celebrate than with america's pastime. major league ballparks across the country. >> jared maxey with the holidays. >> pretty exciting day around major-leaguea file. fireworks and baseball stars and stripes. crackerjack and apple pie eating contest. check this out in chicago yesterday. harsh word for the cubs were the red white and blue beard into the dugout. eating pies, pinstripe socks and long sleeves. giant american flag. superstar mike trout said men and women overseas we can't thank them enough. we wouldn't be playing this game without them fighting for freedom. his special day all-around major-league baseball.

also one yesterday for yankees broadcasters. been around for a third of america's life. john sterling at age 80: yesterday's giancarlo stanton home run. >> it is high. it is god. that is a santoni and home run to deep right center. basically translates input not be stopped. his old radio michael kay did this at casting on television. in a near perfect call. yankees one. they stay within a game of the red sox's the nationals.

paul o'neill having some fun. check this out. yesterday a home run robbing catch by kian broxton says the ninth-inning home run. watch this crowd. wow, that was gone. how he says that catch unbelievable. great stuff. for the second time this season and the fourth time in his career, check out the crafty side in slow motion. a move to evade the tag that james mccann. cubs win. you know that saying, cooler heads prevail. not with the cooler side is an opponent of the baseball bat in an angry frustrated baseball player. carlos gomez struck out in the second inning. on the gatorade cooler. he makes the guys are going into the dugout. gomez was about the second straight that he should've been

hit. but he got injured. cheryl: this is my favorite story. >> let me be frank. joey chestnut broke his own world record yesterday at the hot dog eating contest. he devours 74 hot dogs and buns in 10 minutes and that's twice as many as a women's owner. she was basically uncontested in this contest. we are talking yesterday about having covered this event before. just the smell of being down there. agree with that. tracee: thank you very much breakage the sports report unserious xm channel 115. i love coney island.

tracee: coming up, the u.s. making an offer to german automakers. we will get the reaction from london's straightahead on "fbn:am." ♪ ies in real time. fidelity. open an account today. [music playing] (ceo) haven't been playing golf this year, i am sorry about that. (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models during summer

of audi sales event. when you think of miami you think of,you know,rich,glamour but 5 miles away from the beach there's people who have never seen a beach. i was confused why somebody was in this situation especially in america. ♪music:oooh,oooh,oooh so when i started joshua's heart foundation it was a key thing to be able to engage youth in the foundation. to help them participate. ♪music:oooh,oooh,oooh i think passing on the torch and lighting a new flame in another person to do good is probably the point of the bigger missions i have. ♪music:aha,aha,aha

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threads to stop tariffs on imported european cars if the e.u. eliminates its tariffs on u.s. cars. all coming of course as german chancellor angela merkel is one of the trump administration terrace could trigger a trade war. your decks in global equities economist bank is at best. what do you first make of the report of the german newspaper that richard or not it's basically trying to negotiate on behalf of the president here. >> i think it makes a lot of sense because the e.u. tariffs of about 10 cents whereas 2.5% and european office in his dates. it makes perfect sense for the e.u. to actually reduce its tariffs. but that would certainly be the way to go in my view. tracee: president trump treating

the opec monopoly must remember the gap prices are up and they are doing little to help it if anything they are driving prices higher as the united states defends many members for very little dollars. there must be a way -- must be a two-way street. does the president have much influence on prices? >> the prices set by the global market in the problem is a lot more complex. a new she is now the world mobile producer rather than saudi arabia. you make you a shell less profitable. so i don't think this is a particularly sensible strategy. cheryl: thanks to all of you for watching "fbn:am." great to have you with us.

not every day can make all who is in for maria. i hope the fireworks did not wake you up last night. >> i had earplugs in. and again, i couldn't go out because i had my dog. >> we were talking about that. dagen: i'll see you both later. dagen mcdowell and for maria bartiromo. thursday, july 5th. top stories at 6:00 a.m. eastern. pulling the tariff trick-or-treat deadline looming for china and the u.s. to launch tariffs on one another starting this friday. china says it will not fire first. markets are shaking out trade fears. 120-point gain after the markets were closed for the july 4th holiday. in britain, france and germany paid the biggest winners today. of more than 1%.

losses across the board in japan to shanghai, hong kong and south korea down 1%. chicken oil prices moving up about half of 1% at the moment. seventy-four dollars a barrel plus after president trump treated about opec yesterday calling on the cars failed to reduce traces. the statue of liberty with the protester after climbing the base of the monument bullet train to celebrate this nation's independence. the streaming giant reportedly testing a new subscription tier. what you will get under the ultra plan later this hour. carlos gomez created his own fireworks after striking out he took aim at the water cooler in the