and you know ronna is right there, ronna mcdaniel, the head of the rnc doing a great job and we don't want daylight between >> we had a big day. a very big. we met here right white house to launch a new phase in the relationship between the united states and the european union. a series of close friendship, of strong trade relations in which both of us will win. trade to breaking news this morning. we are covering two very big stories as president trump announces a breakthrough in trade with europe all facebook stop plunges 20% after reporting disappointing revenues and subscriber growth. train to an explosion outside of the u.s. embassy in beijing. only the bomber was centered.

rising trade tensions with the u.s. behind the blast. trade tensions appeared sending the dow up 172 points yesterday. turning to you as you can see from the nasdaq under a lot of pressure and a lot of that is technology. the face but disappointment of course. but i was up 20 down by six. gerri: europe stocks open higher in trade tensions with european automakers leading the way. cheryl: stocks initially mostly lower the cost of the index in korea moving higher. gerri: despite easing trade tensions come to u.s. companies announcing the impact of tariffs. the price of a can of coke expect it to rise. "fbn:am" starts right now. trade 25:01 a.m. in new york.

thursday, july 26. good morning, everybody. i'm cheryl casone. gerri: i'm gerri willis in for lauren simonetti. trade to the nasdaq under a lot of pressure. we look at that news in a moment. first, some breaking news overnight. a homemade him exploded near the u.s. embassy in beijing. police said the blast injured the 26 year old man holding the device made out of fireworks. the u.s. embassy was not damaged. >> authorities say the suspect is from mongolia and treated at the hospital. his motive remains unclear. thankfully no one else was hurt. trade tensions between the u.s. and china grow. cheryl: meanwhile, we are tracking two big stories this morning. first commissioners of facebook punching an extended trading on disappointing quarterly results. developments on trade in the european union.

cheryl: president trump declared a new phase in u.s. relationship with the e.u. more on this story from her on blake burman. >> president trump and john called juncker avoiding a trade war between the united states and the european union. announcing major trade calls so long as both sides negotiate in good faith. the two leaders will strengthen their cooperation on energy deals like importing lng. increasing sales to the u.n. reform the world trade organization and britain on auto industrial tariffs down to 0%. >> strengthen the trade relationship to all american and european citizens. this is why we agreed today first of all to work together toward zero tariffs from zero non-tariff barriers and zero subsidies on and on auto industrial goods. spin that the president said he

is going to back off the steel and aluminum tariffs which is the date you to respond. >> short-term measures to facilitate commercial exchanges and measures and what we can do about that to the betterment of both. while we are working on this, we will not know it and cheryl: against the spirit of the disagreement unless either party terminates the negotiation. we are starting the negotiation right now but we know very much worth going. we also will resolve this steel and aluminum tariffs issues and we will resolve retaliatory tariffs. spin at the president did not address this on a threat in which the e.u. could suffer tremendous rush of patients. >> before the joint statement, if that were to happen in the

e.u. would respond with roughly $20 billion more in tariffs. back to you in new york. cheryl: president trump had to granite city, illinois that is reopening. trade representative robert light has her goes to capitol hill to testify before the senate appropriations panel. gerri: facebook meanwhile loosing face for shareholders after the company wants about slower revenue growth and rising expenses in the latest earning. this talkback hammered after hours it continues to trade lower 18% in the premarket. facebook's user growth has a big point and that is on privacy concerns after the cambridge analytic scandal. to point to mobile users but that is short of analyst expectations. >> r., good morning.

subscriber growth. let's start there. to point to 3 billion below analyst estimates. let's first start there because that is the bread-and-butter of what they can sell to the street. they didn't sell it very well last day. >> that's one of the situations with a population the population of the planet login into your product. obviously they are reaching a saturation point. the real key issue is how much they spend to correct things they did like data privacy. the increase to the expenses is what caught people by most surprise. i don't think we should be a surprise down 20% or $150 billion in a situation where it will take a while for us to re-rate facebook and get it to a point where kind of growth we can expect in the kind

of valuation, but it's certainly a massive mess. spin rate devaluation seemed overnight. the stock 18% in the premarket. the conference call in particular. mark zuckerberg at 5:00 p.m. eastern time. instagram is doing amazing. cheryl samberg is on the call. things are fine. advertisers, things are strong. when the cfo gautama called the things that suffer the company announced in the stock started to really drop in particular because of revenue growth slowing. the forecast for 18 to 19 in the bigger question here, the expenses will be going up exponentially for the rest of this year at end of 2019. we've got a short-term issue. we've got a long-term problem that will bleed into next year. >> absolutely. we certainly know that facebook use the term the pace of growth of new users has floated that's

been true for the last four quarters. the big surprise is just how much that cost to hire 30,000 more people to make sure people stay that is appropriately used in people's privacy is being watched. it's probably been the poster child for the bad use of data. unfortunately we are the product that they sell and advertisers want more and more of that. to have to real backpack and changes the business model. i don't think this is the end of what we see. it certainly has to live in the new world so it's probably just the beginning of the damage. trade to mark zuckerberg was it wrong of the growth in instagram has doubled since they bought it. that's an achievement in and of itself. it monetized in instagram this seems to be the concern for investors. >> that was one of the problems wrong with facebook. when it first became public was

difficult to imagine transitioning. it was hard to imagine they could actually monetize very well. i'm not concerned but when you talk about instagram come in and of itself in social media the fact they still have so much more popular with people younger than i am that facebook is as part of the growth. you have choices and social media. give choices now. cheryl: you are right about the younger users, but people my age are on it as well. i think it is a strong story. thank you for a much richer and on the topic. we appreciate it. train to instagram is a juggernaut. gerri: group of 11 republicans led by house freedom caucus chairman mark meadows filing impeachment. rod rosenstein criticizing him for not being responsive to the

request for documents related to russia. >> for nine months of faster documents are not solid want are the documents in what we found is not only have subpoenas and ignored, but information has been hidden at the efforts have been stonewalled. for us it's all about transparency. >> the introduction does not trigger an immediate vote. set to bring in the house tomorrow. qualcomm now planning to scrap its purchase of mxp semi could not yours. any word on regulatory approval. the last of nine markets that needed to approve a new u.s., china trade tensions. shares are actually higher the premarket.

gerri: trade terrorist threat in a major u.s. automaker. tracee carrasco has those during another headlines. >> good morning. the earnings forecasts yesterday because of decreased sales. trade tariffs in china in struggling business in europe. gm and fiat chrysler did the same. imposed on u.s. aluminum is com ports by president trump could cost ford about $1.6 billion in north america this year. >> they were asked yesterday if the ceo would hang onto its job and he defended himself. the company under a lot of pressure in the not just tariffs. >> yes, we are seeing other companies now. coca-cola said it will be raising prices on the soda. james quincey said the price increase was in response to rising costs like higher freight rates.

quincey said he expects the company's bottlers and retailers to have attacks on higher prices to consumers. we haven't heard how prices they could go yet from coca-cola. gerri: we've been looking for that news. kit kat to prevent copycats. >> i didn't realize you could copy a kit kat. it's a candy bar. anyway. european in its efforts to trademark it. the forefinger shaped. since 2002, nestlé has been trying to his bush a trademark for that shave. the court of justice in luxembourg ruled against. good news for a norwegian candy bar with the same shape because they can continue to be sold in the e.u. cheryl: there you go.

yeah, yeah. >> who doesn't love a kit kat? >> i think a british name. thank you very much. we've got a lot more coming out. if you missed it, some fireworks on capitol hill yesterday. secretary of state mike pompeo testified. >> is the president told you what he and putin discussed in this two-hour crow story meeting. >> i'm confident you private one-on-one meetings in your life as well. cheryl: companies like coca-cola and ford continued to wander tariffs. big story this morning is the nasdaq. down almost 1% unannounced at. the facebook story as well as other technology names. type 76, not back up 73.25. we'll be right back.

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cheryl: welcome back then let's get you, but it's happening. the big story this morning is the nasdaq did nasdaq and the premarket den 64 and a quarter. that is facebook or that is to alan jay. hear about more issues with regards to those companies related to facebook.

dog 28 recipe 25. secretary of state mike impaled in a tested exchange with senator bob menendez of her president trump private meeting with russian president vladimir putin. >> i'm telling you what he had a conversation is fundamentally about and what policy is today. >> i understand the game you're playing. >> my question is to get to the truth. we don't know what the truth is. opening the door to future discussions. president trump has indicated he wants to delay his next meeting until the russia which i is over. washington sometime in 20 night team. pompeo knowledge north korea has continued to produce fuel for nuclear bombs despite an agreement to denuclearize. the administration is making progress in talks with john

yang. finally, as an alternative, colleges have started asking students for a percentage of their future salary. the cost of tuition is another joke. universities are offering income agreement. i'm not sure what you think about that. >> your future earnings to pay for college. thank you commissioner. this could lead to discovery of life on the red planet. the wicked weather patterns continue. janice dean has your fox weather forecast. let's take a look at the stock index futures. the nasdaq den 64. nearly 1%. we are while watching the facebook are based on last night continuing to impact the text that are printed out marginally 25 points. the s&p 500 down five.

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gerri: welcome back to "fbn:am." scientists may be one step closer to finding life on mars or to break through underground like to be the largest body of liquid water and were found red planet. the lake is about 12 miles long and at least one meter deep. scientists say could be a prime habitat for some kind of life out there.

only temporary bodies of water have been found suggesting life on mars is unsustainable but now all of that could be changing. ready to go. ready to go to mars. billions of the flashlight in a letter flashlight in alertness storms soak east coast overnight. transfer your fox senior meteorologist janice dean is here at the latest. cheryl: let's look at your current. a good-looking weekend ahead for the northeast. 77 in charleston, 73 in chicago. 63 minneapolis. a big cooldown coming from the midwest next week. a lot of rain in the last hours. the last couple days for the east coast. a little relief as we relief as we haven't the weekend, but look about the precipitation we've gotten over the last seven days. flash flooding still a concern for the first batch of greatness

through an potential for stronger starts tomorrow and things clear rod over the weekend. however, next week will still have more rain in the forecast. enjoy the weekend. we'll be launching for the southeastern florida. the heat across the west including the northwest endings will lighten up in terms of temperatures across the west as we head into the weekend. again come a bitterly come a bit of a cooldown for the central u.s. as well. babies, back to you. trade to janice dean, things are back. president trump calls for a trade tracert era. how will the trade disputes lay with the president's face. wal-mart says it will team up with self driving cars with waymo help its customers. stock index futures looking at our 28. s&p 500 down five. 62.5 is the continue with the

facebook earnings affect team even more tech companies. you are watching "fbn:am." am tun and puts the championship to bed. sweet dreams, nighty night. as long as soccer players celebrate with a slide, you can count on geico saving folks money. fifteen minutes could save you fifteen percent or more on car insurance. pressure, what pressure? the players on the...

the next that we had a big day. very big. we met right here at the white house to launch a new phase in the relationship between the united states and the european union and friendship of strong trade relations in which both of us will win. >> breaking this morning. two big stories this president trump announces a breakthrough in europe will facebook stop plunges 20% overnight after reporting disappointing revenues. >> an explosion outside the u.s. embassy in beijing. the bomber was injured. more writing trade tensions with the u.s. behind the blast.

do said the easing trade tension with europe at the gallup yesterday about 172 points. gerri: nasdaq futures looking lower. 62.25. worries about facebook this. the dog 25. stocks opening higher on easing trade tensions with european automakers. as you can see the ftse in the right, but the cac and more important to be asked up 1.5. mostly lower the cost index and korea moving higher. we will tell you about an unusual campaign by burger king for, get this, check fries to fight the patent tax. we'll have to explain this. "fbn:am" continues right now.

cheryl: sorry, cheryl. it's 5:30. thursday, july 26:00 p.m. cheryl casone. gerri: i am gerri willis and forlorn femininity. you know, yesterday there was some conversation about what would happen with this trade. president trump and european commission jean-claude juncker agreed to work toward zero terrapin zero subsidies. the president tweeting great to be back on track with european union. a big day for free and fair trade. christian tate is the conservative columnist joining us. great to have you here. this is just fascinating. i want to talk about the political implications of trade, though. i want to start with something yesterday.

listening. >> soybeans is a big deal in the european union is going to start almost immediately to buy a lot of soybeans. tremendous market by a lot of soybeans from our farmers. >> when you look at this, just last week we heard about 12 billion additional dollars who would be hurting from these terrorists. now we are hearing that soybeans on the table, benefits for farmers there. will this lot downtown space in the midterm? >> you will definitely help your disagreement with gotten from europe to start buying more soybeans for the u.s. immediately is great. yesterday was a big win for trump, but farmers in the u.s. are still feeling the impacts of the terrorists. the negative impacts. farmers help get trump into the white house and these are the folks who are suffering here. retaliatory tariffs imposed on the u.s. by trading partners targeting american farmers.

they are really critical to these economies in red states like iowa were trump voters tend to live. we will see how this plays out but a lot of farmers are really worried. the broader electorate in how they might respond to some of these terrorists. when you talk to traditional republicans they've been very worried about spiking consumer inflation. we are hearing this morning that coke prices are going to go up. will disturb republicans with a broader midterms. >> it won't help them, but i don't think it will hurt them too much. especially republicans. who enjoyed 88% approval rating among republican voters. i think the republicans who are

running in the mid-term in trump country if they stick with the president, though do okay here. trump didn't understand a trade war. we've been in a trade war for decades. in $800 billion trade deficit. when do we say enough is enough. gerri: a lot of people out there disagree with you and say he did flip a switch on this. he wasn't part of the broader conversation. the president focused a spotlight on the traditions of these tariffs over time. to get back to the political implications of this tariff debate i just want to mention the whole idea of terry spiking inflation really cuts to different ways. the story this week in "the wall street journal" that across the country in warehouses piling up because of these trade tariffs and talk of it. the prices coming down. is it really clear what the economic impacts are at this trade debate?

>> not yet. we will have to look this wait out. these terrorists are not meant to be long-term policy. he's using them as a negotiating tool, as a political tactic. yesterday we saw that maybe that will pay off. the risky strategy of tweets, threats and tariffs may end up working. the bottom line knows that nobody wins the trade war but the u.s. is home to the largest market in the world and if another nation loses access to markets that will hurt them more than us. the game of economic chicken. again, a lot of people out there especially the middle of the country who are glad to see this addressed. an american toy maker says it's going to cut thousands of jobs.

>> tracee carrasco joins us now. good morning. >> the maker of barbie dolls and hot wheels cars that it would cut more than 2200 jobs. nearly one quarter of its nonmanufacturing workforce as the company deals with declining sales and losses like toys "r" us. the company said most of them support jobs. it would sell its manufacturing sites in mexico as part of the plan to cut costs. >> wal-mart partnering with someone. >> wal-mart and someone from google self driving project will allow shoppers to make their grocery pickups with the help of the self driving car. shoppers will be able to take a driverless shuttle is service whenever they purchase groceries from wal-mart.com using the online grocery pickups service. right now it's only available for the participants of the pilot program in phoenix,

arizona. cheryl: with that attack about this story. check fries. >> i did bring them to you. trade to we'll try them all you explain what this is. >> a finding a campaign from burger king today instead of the usual chicken fries. a pink box to fight back against the so-called peace tax for women pay more for a product and then maybe do. on average the female version of the product costs 42% higher a lot of the time. don't worry, today everyone still pays the same price for these fries. cheryl: okay, here i go. >> pretty good. cheryl: okay, i'm in. i like the pink box. thank you for that. gerri: coming up, house republicans fire impeachment against rod rosenstein. we will look what his next.

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gerri: welcome back. u.s. teachers or watchers the stock market, down 43. the nasdaq down 57. we will continue to watch that is the facebook story continues to play out in the text that her. officials suspect arson could be the cause of wildfires in greece that has killed 79 people in the death toll continues to rise as rescuers searched through the destruction. 15 fires ignited in three different areas outside leading investigators to probe whether they were set intentionally. heavy winds have destroyed more than a thousand homes and injured nearly 200 people. then they destroy president trump star in hollywood's walk of fame in 2016 will reportedly be allowed the newest b&o. lapd says a 24-year-old man

turned himself in after damaging the star early wednesday. he is being held on $20,000 bail a trunk with its own box in position smashing in to a sign above a florida highway. dash cam video shows the collision. wow, look at that. officials say the hydraulic system failed. no word yet if any have been issued to the driver appeared a procedure shouldn't drive in l.a. cheryl: driving is just not fun in l.a. the moral of the story. the battle between republicans and justice department over the russia probe rapidly intensifying as gop lawmakers file articles of impeachment against deputy attorney general rod rosenstein. congressman mark madison jim jordan who says this is long

overdue. >> we are tired of the justice department giving us the finger and not giving us the information we are entitled to do our constitutional duty. the american people are sick of it. cheryl: criminal defense attorney and prosecutor david irving. good morning. >> good morning, cheryl. what they are accusing him of his hit a conflict of interest in the molar probe. he may be called as a witness. we shall see. with regard to the fisa warrant for carter page that guy was an overreach on his part. when you make make of these allegations? >> it's also the document production. that is the primary purpose of the resolution. in fact, a fundamental difference as to what the f. guy has to give in what congress thinks they deserve. the fbi is relying on the fact is an ongoing ongoing investigation and privileged information.

this impeachment article resolution will not get that question answered. that's the unfortunate thing about this. this is going nowhere. when you try to impeach someone you have to get a majority in the house and even if that happens you have to get two thirds in the senate. no way that is going to happen. i don't even know if they'll get a majority in the house. cheryl: the question this morning. i do want to get in the weeds of what happens in congress. if it happens it will be about 10:30. if nothing happens then, they are out for six weeks. democrats firing back in the allegations are worth bringing up here. this is a direct attack on the special counsel investigation and the only reason meadows and jordan are bringing this up with the idea of impeachment because they are trying to protect their ally, president trump.

>> disagree completely. that is just a left talking point. this is an ongoing dispute about the documents that congress wants. they have this oversight responsibility and they are doing their thing to try to get them. there's a difference difference as to what can be provided. at some point the court will have to get involved here and decide whether or not the fbi is right to protect ongoing investigations of congress to make the request and try to get the documents for oversight. cheryl: if our viewers are completely aware, this is the document request made over the last nine months and they've been very frustrated with the lack of transparency from the doj and for rosenstein. all of that movement that led up to the surveillance while he was with the trump campaign. he was a trump associate. the fbi is saying what, this is the law.

we have to protect their regions. we have to protect her practices in the fbi. >> that's the problem. it's not the law. the courts have not decided this. it is internal guidelines and procedures at the fbi they are relying on. ultimately the court has to decide. cheryl: it's interesting that you say about. so rare to see impeachment proceedings here. we've only had meetings more than 60 times that we've had in impeachment ought before congress in the history of the republic. you think this is a dangerous road for republicans and maybe they do drop it today. we don't know. >> i do. they are not unified. trey gowdy, paul ryan has come forward and said doj is doing better. so without the entire republican group, i find it hard to believe

that 11 of them would make this move. we need to be unified here. cheryl: the latest polling shows they were going to take his time. no rush. thank you for chiming in. >> you've got it. have a great day. gerri: dallas cowboys jerry jones doubles down on his stance against in some protestant country to retire from horse racing. looking at stocks right now. the dallas 40, s&p 500 down 4.5. nasdaq down nearly 61 as we continue to watch whether they buy facebook on earnings. implications for the broader tech sector. you are watching "fbn:am."

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>> the dallas cowboys spoke out yesterday about how his layers will handle the national anthem for the upcoming season. gerri: garrett maxes your story. >> jerry jones had a lot to say about the handgun. he stated i like everybody would like for it to go away. alas using john spoke about the importance of this player standing for the handgun from he told told cheryl casone they will stand. he later joined his players and teams to have taken a momentary knee before standing for the anthem after president trump had weighed in heavily. jerry jones, where are we today?

>> or policy as you stand at the handgun. his interest in what we're doing is problematic for my chair. unprecedented if you think about it. >> currently no active policy in the national anthem at the players association said last week in a joint statement they are working towards resolution privately. sports in los angeles. the lakers not only have the broad james, they also have new uniforms. check this out. to the layman that the same as always. purple, gold. the showtime era, drop shadows on the lettering. they are really yellow this time around. the reason we have the images is because they actually excellently done and i've not knowing that hadn't been released yet. the l.a. angels robert poole's last night.

631st and that is more than ken griffey junior hall of famer. first time this year by two holes, mike trout. hard to justify when there's so much money on the line to be made. initially it was believed that justify would race for a while, but that is it for the back of his baseball card is fluid on his ankle. cheryl: he'll be okay. watch what happens in the orioles rent tax games. what happened was a fan in the crowd yelled out mind and made steve pearce believe those going to his teammate. used to play for the orioles.

just recently president trump -- russian president vladimir putin gave president trump a soccer ball in helsinki. dobrynin to the white house. my good bud. after all, kind of his bug. a microchip that accesses adidas content and that can be seen. there is a smart chip in there. >> i'm glad justify its okay. a pretty good record to admit that's well. gerri: thank you for that. you can catch the sports reports on fox news headline first on your xm channel 115. cheryl: a lot more coming up. the u.s. and the european union turning down the heat on trade tensions. our actions going to follow word? a live report from london straightahead. ♪

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gerri: check out this video. house speaker paul ryan when paul ryan went on to make it most late night show to take place among the funniest segments. listen to this. >> paul mine could be a live-action disney villain. #widows peak. which executing tolerance car has given me hope for the future. i won a high paul bynes face

with a shovel. [inaudible] wow, he took it on the chin. it goes a long way. >> of those mean streets. >> self-deprecation i'm telling you. president trump reaching a breakthrough agreement on trade. joining us now from london. zero tariffs and zero subsidies on motive goods is a possibility. >> we can only hope so and hopefully this is the first of many steps towards lower tariffs and more trade agreements between the u.s. and the e.u. and hopefully the cooling for many months, which has been brought by both sides. not just the u.s. and the e.u. that the countries also. it's a very positive step for

investors as well and that's why we seen such market in the action -- >> can it recover from the disappointing results? >> i think it absolutely can. it's quite extraordinary to see how many people will see this as an opportunity to bias doc. it also goes to show that they have severely hurt facebook. subscriber growth and it also grounds of cost is something we've seen this particular report. cheryl: the next big name we hear from his amazon. prime day included in those results, but the second quarter is usually slower for amazon. what he think will happen? >> ii think the club business is one area of significant growth

for amazon. people will be very focused on that. we do want to see continued improvements on sales in ordinary business as well. cheryl: thank you, craig. appreciate it. >> time to turn it over to maria bartiromo. >> happy day. good morning, everybody. i maria bartiromo. july 26. your top choice on the east coast. facebook unfriended on wall street. plunging on disappointing sales and revenue guidance with $150 billion. the after hours trading session. facebook 1017 and a quarter% right now. setting the tone for the rest of the sector for sure. technology under pressure. look at twitter down 3% and

parents of google down one and a third are sent. amazon was reported earnings at the close tonight. broader markets this morning look like this. dow industrials are up 50 points. do not stack with so technology names they are and that is down 1%. a wild session on wall street yesterday. stocks surge in the last 30 minutes of trading on news of a trade dispute between the u.s. and the e.u. president trump working toward zero tariffs. yesterday the dow industrials 172 points with a huge rally in the final 30 minutes. europe this morning investors are waiting to hear from the european central bank this is the rise in interest rates might be on the horizon. the european markets are fractionally better. the cac of e