lou require assume you like most of republicans support the contract to keep america great. congresswoman, we appreciate, good luck tomorrow. that many it for us t statement the president will continue to hold china responsible for their unfair trade practices. this has gone on for long enough and he's going to do something about it. cheryl: break in breaking this morning, it's official, the u.s. puts up tariffs on china. you'll break first beard lea: take chances with china with the dow down over 80 points. trying to take a look at u.s. stock index futures we are down triple digits this morning for the dow jones industrials down one night in the premarket. s&p .co but i've come come s&p down 42 and three quarters.

lea: a close eye and interest rates is the tenure grocery costs 3% for the first time in three months amid a stronger -- destroying of strong economic data. cheryl: disappointing earnings from industrial giant and bmw. all in the red good to be asked more than .5%. >> japan's nikkei down 1%. stocks down 2% in china. >> one winner today. after reporting the losses double. elon musk making nice with the analysts. "fbn:am" starts right now. 5:01 a.m. here in new york on may, august 2nd. finally i gave grow -- lea

gabrielle in for warranty -- lauren simonetti. he was really tired when he made comments before. cheryl: will get to tesla later on in the show. the big breaking news at the trump administration putting more pressure on beijing threatening to more than double proposed tariffs on chinese goods. the foreign ministry responding saying the u.s. should return to rationality. >> the white house with the details. >> good morning. the president announced the trade representative to propose a terrifying $200 billion with the chinese goods. no more items to the terrorist the increase from 10% to 25%. rubberlike peyser says the increase in the possible rate of additional duties intended to provide the administration with the option to encourage its

hurtful policies and behavior and adopt policies that will lead to fair markets and prosperity for all of our citizens. the tariffs of the in effect from seafood to dry beans to tobacco. the administration not backing down of retaliating to our tariffs. >> would like to see the unfair trade practices stopped at the president will hold their feet to the fire and continue to put pressure on china. he will not allow american industries and american workers to be taken advantage of. >> the retail federation coming out with a statement saying they're against the new thing we said before doubling down on the recklessness of imposing trade policy that will hurt u.s. families and workers more than it'll hurt china. surprisingly as many democrats support the use of tariffs. >> will see what china does. i support the tariffs. the tariffs are at tool and not a permanent trade policy.

>> or trade policy and tax policy will be trade workers minute direct attack come at tariffs are part of the answer to that, but i want to make sure we do these terrorists and aim them at the countries that are serial cheaters. >> if they increase the amount of tariffs on a smaller amount of good that $200 billion still a large amount. the smaller man of principle decrease the impacts to the u.s. consumer will increasingly impacted china hoping to get china to come to the table and work all this out. terrorists could go into effect september 1st beard trimmed to the president heading to pennsylvania to hold and make america great again rally. fox business looks are a devout life starting at 7:00 p.m. eastern. >> now to north korea. president trump tweeting this morning about the u.s. soldiers remain. thank you to chairman kim jong un for keeping your word in starting the process of sending home the remains of our great

and beloved missing falling. i'm not a value to this kind action. also thank you for your nice letter. i look forward to seeing you soon. vice president pence received the remains of 55 possible u.s. service members in a solemn ceremony in hawaii yesterday paid testing will begin to verify if the remains are indeed u.s. soldiers. churning through the federal likes what he sees in the u.s. economy. the central bank left rates unchanged but says the economy is strong, laying the groundwork for a third rate hike this year in its september meeting. the statement used the word strong several times in his description of the economy and labor markets. the central bank is expected to raise rates to my times this year. the ten-year treasury yields across the 3% mobile yesterday following a stronger than expected report on private-sector hiring. >> to 3% yield affects everything.

lea: the last time 13th. cheryl: not good for the economy or markets. naysayers but i notice after tesla reported mostly positive quarterly results. the stock sharply higher "after the bell" rally 9%. right now adding to those gains this morning in premarket trading. tesla's loss doubled in its most recent quarter as it ramped up production in the model three sedan. ceo elon musk says the company would turn a profit later this year commenting on the progress on a conference call with analysts. >> first of all like to say we are incredibly proud and producing 7000 model three, model its vehicles in the last week of june. those are amazing efforts. >> tesla announced it reached its goal of 5000 model threes a week and adding he doesn't plan to test the capital markets for now. we will dig deeper coming up later in the show. a sour note to investors this

morning. the initial public offering at $16 a share below the original guiding at $17 to $19 a share would value the company at nearly $1.5 billion. shares will debut on nasdaq today under the ticker symbol. cheryl: activist investor carl icahn owns about 5% of sigma and is planning to disrupt a potential acquisition. lea: tracee carrasco joins us with more about another headlines making news this morning. good morning, tracee. >> leo buster carl icahn will vote against $54 billion acquisition. he reportedly believed he's paid too much. shareholders are scheduled to vote and icahn would need to get other investors on board but don't investors would vote the deal down.

cigna report earnings before the opening bell down more than 11% so far this year. lea: how a is cbs moving forward with the investigation into his ceo les moonves. >> two offerings into the misconduct allegations about chairman and chief executive les moonves, cbs is another cultural issues that appeared in the company also said the board has a special committee to help the investigation and les moonves will have no role in it. it reports earnings after the closing bell today. shares are down more than 10% so far this year. let's talk about parent. they are apparently hiring a tutor for their kids, but it's a very controversial thing they're doing. >> a higher math tutors can i piano teachers. now they are hiring coaches to

make their kids better to video game which has become extremely popular in the last year according to game right, than 1400 coaches have been hired since march. most rates depend on the coach but can cost anywhere from $15 to $50 an hour for three to four hours of coaching. had he become the videogame coach? train to what her parents thinking? coach them on math and science skills in english. lea: i read one player, this guy tyler blevins who makes $500,000 a month from twitch subscriptions and people will pay $5 individually to watch them play for money. cheryl: thank you very much. appreciate it. a lot more coming up with the tsa wants to stop screening passengers at more than 100 airports. what does that mean for security? tesla shares given a big lift a ceo elon musk makes nice with

analysts on wall street and he also talks about sustainable profit. we would kick the tires on the earnings report. a lot of pressure this morning. most of this of course is worries about the trade dispute from a trade war with china or more tears than as higher anyway. the dow down 122 in the premarket come s&p down 12 and three quarters at the nasdaq is down 43 and three quarters. you are watching "fbn:am." ♪ at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today.

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duh ♪i was born to be somebody lea: welcome back. let's get too caught up on it's happening now. u.s. stock market futures lower by 121 points come s&p lowered by 12. nasdaq futures down 44. three ukrainian hackers are in jail today for allegedly stealing 15 million credit card numbers. the hackers spent more than 100 businesses across the world e-mails that appear to come from customers. eager to please employees they open the attachments which then launched smaller into the system. the information has been sold on the dark web. twitter chief jack dorsey says he understands why many conservatives are suspicious of big tech. last week the social media giant

turkey for so-called shadow banning certain prominent republicans restricting their visibility. he tells fox fox news radio that will not happen again. >> i don't believe that is acceptable. it is not except typical especially when we are creating a service where we are trying to enable to hear from every perspective. >> twitter says the shadow banning has been fixed, calling it an algorithmic error. they tsa may be considering eliminating security checkpoints. more than 100 airports around the country could do away with the scanners in order to save money according to internal documents obtained by cnn. the ban would apply a small or medium-sized airport with 60 seats or fewer. documents suggest the change could save $150 million annually and that is what is happening now. >> an interesting idea.

elon musk says tesla has turned a corner and profitability. kashner analysts have thought more than 2 billion. like what they are hearing commissioners to test the sharply higher up more than 8% right now. first he did apologize to analysts. that was the biggest headline. we were curious what his rhetoric was going to be. i was tired the last time the conference call with no room for this language. do you feel like elon musk repair this? >> you need a step in that direction. the policy would not have worked with my wife. give them credit. they listen to it for now. still one tweet away.

a step in the right direction, but there's still just a legion of critics out there that will not make them go away. >> they raised their target price on it. people are so quick to jump on anything that could. i think you brought up a key point. $717 million loss from the biggest in history. >> the balance sheet is still suspect to me. if you listen to the conference call closely he said

>> show, i 100% agree. safety issue, quality issue. here's a guy manufacturing rockets to go into space. he definitely has the capability and intelligence to figure out how to manufacture safe t. automobiles produced on a duet. drink your designated focus on making automobiles and other tunnels under l.a. there's a lot there. we'll definitely have stocks to

watch. thank you. appreciate it. >> coming up, wildfires in california have now scorched 320,000 acres. that is the size of los angeles. high winds are not helping there. still continuing. janice dean will have that forecast. taking a look a u.s. stock market futures. dow futures lower by 132 points. s&p down 13 in nasdaq down 44. you are watching "fbn:am." we will be right back. ♪

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drain through wildfires burning in california charged 500 square miles bigger than the entire city of los angeles. spending more than a quarter its annual fire budget and it's not even peak fire season. coming home to pile the burning rubble where houses once stood to bring the fires erupting over the last 21st near yosemite national park. firefighters may be facing even tougher conditions. >> janice dean is here at the latest. good morning. >> unfortunately got high fire danger across the northwest come and interior northwestern parts of california. elevated fire danger today because things are going to pick up not only that but it's dry

and the temperatures are excessive here. for the next several days we are going to get moisture across the southwest but the immediate coastline not getting any relief. there is your forecast today again very warm across the west. dealing with rain along the east coast. one area not good enough, the other area in too much. your forecast for the west again very warm temperatures come excessive heat in some of these regions and not getting a whole lot of relief. the east coast difference is we are getting cooler temperatures here in the rain in the forecast of flash flooding concerned from the gulf coast all the way up towards the northeast we have rain in the forecast for this weekend, particularly watching the southeast and parts the mid atlantic. i wish we could donate some of our rain to the west. back to you. cheryl: we've got a lot more coming out. america's long love affair with their favorite summertime might be over.

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>> the president will continue to hold china responsible for their unfair trade practices.

this has gone on for long enough and he is going to do something about it. cheryl: breaking this morning, who will blink first in a trade dispute with china as the united dates ramps up its terrace. concerns about the trade tensions with china sent stocks lower yesterday. the dow down over 80 points. cheryl: selling could continue today. features of an escalation to the downside in the last 20 minutes or so could the dow down 156 in the premarket. s&p down 16 points. nasdaq down 52 and a quarter. >> investors keeping a close eye and interest rates and feel across 3% yesterday. the first time in two months amid a string of strong economic data. cheryl: stocks opening lower on trade concerns and also disappointing earnings from industrial giants in europe. bmw: dax taken a hit and one in three quarters of a percent right now. >> asia big losses all around. japan's nikkei down 1%. backs down over 2% in china.

cheryl: for the first time ever, americans love affair with is stating it's not taking and is laying down creating a new with a little something extra. "fbn:am" continues right now. lea: good morning. yesterday i'm on new york. i am late gabriel and for lauren simonetti. cheryl: m. cheryl casone. a federal appeals court ruling president trump sorter threatening to withhold funding from sanctuary cities is unconstitutional. chris jenkinsis lies with the details. >> in california as you mentioned it's playing out and

it's unconstitutional to withhold funding from century city. absent congressional authorization may not redistribute or withhold properly appropriated funds in order to effectuate its own policy goals. the ruling applies to two lawsuits brought in california. the mayor treating this was not the first by the administration and it will not be the last that we support the single challenge because the allies on our side. it will be a sanctuary city. the department of justice calls this a bit to read for aliens in california as a republican congress and jeff denham had this to say. >> this is about the rule of law. we are a free society based on a set of laws we need to follow. i want to make sure that we're not going going to punish communities like mine.

>> meanwhile the president indicated on rush limbaugh show that he may be losing closer -- moving closer to a showdown with congress to >> at that getting these guys to get it done. you'd have no idea how tough i've been. i say hey if you have a shutdown company ownership down. the shutdown can take place after the election. i happen to think it's a great political thing because people want border security. >> this applies to other sanctuary cities nationwide. the case will receive more hearings in a lower court. >> thank you, griff. for more on this chemical precooked far of and tattered joining us now. good morning. residents at american university public school also a former auto states that minority leader and chairman of the committee to defend the president is also a colorado state senator. nice to see you this morning. bright and early. in the interview referenced with

rush limbaugh, the president said yesterday he thinks the shutdown could get a good thing to do before the midterms. i'm actually going to bring up that post specifically. more pressure on the other side because we are doing it because democrats are not getting us the vote. what do you think about this strategy? is this a good idea before the midterm? >> is a good strategy for america. when i let the pressure on the democrats, but the republicans. the reason trump got elected is because of the immigration issue. he though beat a field of 16 republicans. donald trump walked in and ran with it. the american people rally behind him. it's a great issue for the president to run on. those that will support standing up for the american sovereignty in american borders. lea: you know the administration has been running into some roadblocks in terms of immigration and border security to the california court ruled saying it is unconstitutional to

pull funding. this has got to be frustrating and fueling the president interest on the government. >> sure, this is a huge campaign promise in 2015 by president trump talking about border security, talking about it in a while and he wants to fulfill the campaign promise. we have three branches of government that all served in conjunction but autonomous from one another. you have both democrats and republicans in the house and senate at the federal level pushing and pulling an unwilling to give on either side for compromise and then you have the ninth circuit, which people dismiss because of the liberal court, et cetera and just as the ruling basically saying it's unconstitutional to take away funding from so-called sanctuary cities. i do want to remind viewers that apparently the ninth circuit basically said this only applies to california. it's not going to apply at this point for injunctions anyplace else across the country.

in regards to the political aspects of the government, it is a great primary strategy because when you stick to your corners commit democrats or republicans, people get excited whether you are super left or super way. they might depress those in the middle because people see the dysfunction of washington. >> that's an interesting thought. this of course does capri reference was a big part of president trump's election campaign with this promise for more security. could you possibly be threading republicans, not just democrats at the start of a shut down basically letting them know my voters is where my loyalty is going to go, not to you. >> ask him exactly right. she was saying also, the dysfunction in washington d.c. this is part of the dysfunction in washington d.c. when you can get either party to move forward. republicans are in charge of the house and senate and they should pass funding to build a wall, which is what they got elect to

do, which is what the president got elected to do. the fact they haven't done it is outrageous to the majority of americans who elected them in office. dream for the president said there's no way democrats will allow foreign immigration fix about shutting down the government. is that true? >> it's true in the house, less true in the senate. thanks to gerrymandering in the primary process, both have looked far left and far right and they are more concerned about again whether you're the freedom caucus for the democrat socialist, i think that there is a risk. the senate can usually the higher chamber has a little more of an approach to valdez. lea: capri and testament thank you. >> thank you. have a great day. cheryl: more news from china.

google is exploring a return to the communist country. lea: tracee carrasco joins us with that another headlines. >> google is reportedly planning to relaunch a censored version of its search engine in china to meet the demands of the chinese government. google originally shutdown it chinese search engine in 2010 because of government attempts to limit free speech on the web for the search engine will reportedly blacklist sensitive searches and filter out all websites blocked by china censors like wikipedia and bbc news. the censorship will extend to google's image search, spellcheck and suggested search features. lea: and tristan. the talk about facebook also be joining the fight against screen addiction now helping people block themselves. >> a problem a lot of people have a facebook will sue much you know if you're spending too much time on its ab. users will see an activity board

located within both facebook and instagram maps. it will track how much time you're spending on the apps and alert you once you've had a self-imposed time limit. this is the problem a lot of these social media companies help create that addiction to their platform. cheryl: and now they're saying they want help us get on addicted. you can push okay i keep sneezing. cheryl: talk about this one. drinkers are no longer reaching for. what are they turning to instead? >> will get to that in a minute. drinkers chose just 49.7% of the time last time down from 60% in the mid-90s. for the first time from the drinkers are more likely to choose a glass of wine or a cocktail. this is a big wake-up call for breweries. they've got to come up with ways to keep drinks, to keep customers drink in their

products. the beer maker will sell pot infused drinks in canada were consumable marijuana will become to go next year partnering with the canadian cannabis producer to develop this nonalcoholic drink containing marijuana. they want to keep their customers, so this is what they are doing. lea: i think they need to bring back wine coolers. thank you, tracey. cheryl: we've got a lot more coming up. hollywood is calling hillary clinton. we will tell you how she's teaming up with director steven spielberg. lea: will wage increases follow? we'll preview the july jobs report. u.s. stock market futures lower by 182. s&p lower by 19, nasdaq lower by 60. you are watching "fbn:am." we will be right back. too cold for camping?

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lea: welcome back. looking at u.s. stock market futures. dow futures lower by 156. if the lower 16, nasdaq lower by 54. major health care providers in many states are stashing upon the care premiums pitchers in texas, illinois and north

carolina have proposed rate reductions. florida and mississippi insurers are seeking single-digit increases bear. in the meantime, voters are heading to the polls for tennessee's primary. gop gubernatorial candidates including u.s. congresswoman diane black, randy board, state representative harwell and bill lee. in the senate primary, the brightest and leads the field for republicans and u.s. congresswoman marsha black burn who has president trump's endorsement. in the meantime, hillary clinton heading to hollywood, teaming up with even spielberg on a project based on the both the women telecommute a both the women's outlook of the great fight to win the vote. clinton will executive produce the series put the book follows the activist who led the fight to grant women the right to vote and that is what is happening now. cheryl: investors are gearing up for more time today. look at the most closely watched

economic report of the month tomorrow. the government releasing the july jobs report. coming out the preview, wells fargo senior economist, good morning. let talk about this. we got edp yesterday with a lot of hiring and middle sized businesses across the country. 99 to 500 employees. does this bode well for tomorrow's report by 190,000 unemployment rate of 3.9% what do you think? >> the unemployment rate coming down the three-point line and it's all a bit of a mystery because last month we saw this huge surge in the labor force participation rate in so many people coming in to push the unemployment rate up a little bit. jobs growth is strong and broad base. >> it is. or a sector jobs, 219,000. there really seems to martha's story will be labor force participation. month to month we see more and

more americans getting off with the sidelines, getting into the job market. that may or may not bode well for the unemployment rate but certainly that tells you the economy is firing on all cylinders right now? >> is a very good sign. the monthly numbers tend to bounce around a lot. they just tend to be the survey size on the household survey which is where they get the unemployment rate in the labor force participation numbers. the reason folks are coming back in his day job growth is broadening. more industries, more regions, more metropolitan areas for more rural areas are seeing real improvement in the economy and that's bringing people back in the labor force. >> would've a pretty decent selloff this morning especially for the dow jones futures. industrial names will be watching today. the dow down 170 points in the free market and i'm curious what

this means on terror forays. as a trade fight continues, do you think will start to see companies begin to lay off, to pare down their employment rolls. >> i don't think that is likely to happen in the next few months or even next year. i do think there is a little bit of a risk if this thing intensifies a whole lot more. i don't really think that's going to happen. trump is using rhetoric as much as he can. he is trying to put off raising these tariffs as long as he can. but really when dealing with china, that's the only tool he seems to have right now. cheryl: will see a good manufacturing jobs number tomorrow. it is steadily increased under president trump. >> at the longest increase we've seen in a decade in manufacturing employment. about a quarter for jobs have come from manufacturing

construction and energy extraction. those are some very high paying parts of the economy should bolster wage growth. cheryl: the construction jobs and housing jobs you see a big labor. mark vittner, great to have you here. thanks for the perspective we appreciate it. trade do complete coverage and analysis of the july jobs report on "mornings with maria" tomorrow 8:00 a.m. eastern time with your jobs in america special. but right now we are watching for all. lea: let's watch some football. believe it or not, it is time for some football is the pre-season gets underway with the baltimore ravens against the chicago bears. and then there is this. >> this is my heater. i dare you to edit. >> you'll be sorry. lea: get ready for sandlot. allocate u.s. stock market

futures. dow futures lower by 155. nasdaq lower by 54. you are watching "fbn:am." we will be right back. ♪ ♪ ♪ fight security threats 60 times faster with ai that sees threats coming. the ibm cloud. the cloud for smarter business. announcer: as america's veterans face challenges, dav is there. helping veterans of every generation get the benefits they've earned so they can reach victories great and small. support more victories for veterans, go to dav.org.

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its a new kind of network designed to save you money. click, call or visit a store today. cheryl: welcome back at a major scandal is unfolding. lea: garrett maxes here at those details. >> good morning. wish we had good news here to kickoffs court on transports.

urban meyer also of the florida gators to the last championships paid on -- placed on paid administrative leave by ohio state university. the school is investigating claims that mired the allegations of abuse by one of his assistant coaches come as zack against smith's wife. zack was fired last week for the school wants to know if meyer knew of the abuse years before but failed to report it pretty covered about. facts are far less prepared ex-wife courtney smith gave an interview discussing the conversation that she had with urban meyer's wife back in 2015. >> she was going to have to tell her. i said that's fine. you should tell her then. we can't have somebody like this coaching young man. >> smith said i do believe he knew and dad chose to help the abuser and enable the abuser and believe whatever stories back

was telling everybody. so, the story continues his former assistant coach zak smith is out. meyer on paid administrative leave in the ohio state squad will be coached by ryan day. you can catch this entire interview at watch stadium.com. time to watch football again. nfl football for the first game of the preseason. hall of fame ceremony is so nice it is between the bears and the baltimore ravens. early this year we celebrated the 25th anniversary of the baseball classic for sandlot. >> that he was signed by babe ruth. >> yes, yes. you keep telling me that. who is she? >> what? what? >> the details are slammed or you could say smalls, but the sandlot will be getting a pre-coil currently in development. right up there with the best baseball movies.

lea: at tanks, garrett. you can catch is -- sirius xm channel 115. cheryl: tape tensions between the u.s. and china wayne and u.s. doc index futures this morning. as you can see, s&p down 16 for i have come in nasdaq down 52. we will head over to london for reaction when we come back. ♪ where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. [music playing] (ceo) the employee of the year, anna.

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behind selloff behind morning in u.s. futures? >> this is a selloff which expanded across asia, europe and looks like we are heading in the u.s. as well, looks to be largely response with regard to tariffs against china, $200 billion which have long been touted since china retaliatory tariffs, looks like we are going to move 25 rather than a 10. the tensions and potential for retaliation that i think is putting investors off today. lea: and 10-year treasury yield

hoovering around 10%, how us the that factor into the market? >> factors in a little bit. the comments that we had yesterday from the fed were bullish, bull fresh the economy and understandably so, you to wonder what that's going to mean for tightening and interest rate hikes and potential again for potentially a faster pace of selling holdings and you have to wonder ill pact on the economy and markets as well. there's a almost element of this playing a part as well. cheryl: thank you very much, we appreciate it. >> thanks for joining us at fbn:am this morning. now we will hand it over the mornings with maria, maria bartiromo good morning to you. maria: good morning, everybody, thanks for joining us. i'm maria bartiromo, august 2nd, top stories. automaker doubling quarterly loss but ceo elon musk promised

a profit later this year, that has investors buying this morning, stock is up 8% right now as you can see. meanwhile wrapping up the pressure on china, the trump administration is looking to double the proposed tariffs on chinese import. >> the president is going to continue to hold china responsible for unfair trade practices, this has gone for long enough and he will do something about it. maria: now china is threatening retaliation, it says it is fully prepare today escalate what it is calling a trade war, the trade fears taking toll on markets this morning, futures dow 160 points. 52 points low e there, s&p 500 losing right now. we will see how things will change in a couple of hours. strong economy data sending the

10-year to 10% down. rise in next months as the fed continues to look at a strong economy right now. dow industrials yesterday at the lose down 81 points, nasdaq was up 35 and a half points yesterday, apple, of course, a big highlight there. in europe this morning investors are waiting for bank of england, it is expect today raise interest rates nor the second time in decade ftse is down 82 points, better than 1% and dax index down and 3 quarters percent this morning. in asia overnight, take a look at where we stand. decline as cross the board. worst performer in hong kong and shanghai better than 2% as you can see in asian markets, say good-bye long lines at tsa. we will tell you why an what's behind? miller coors taking advantage of colorado home by creating a marijuana drink, we will tell you about that.