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tv   FBN AM  FOX Business  October 5, 2018 5:00am-6:00am EDT

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minimum wage to $15 an hour nationwide. jeff bezos takes with one hand and bringing back with >> one simple reason, he's an incredible intellect, incredible person and incredible talent. [cheers and applause] cheryl: protestors want him going but he may be confirmed very soon. we are hours away from procedural vote for judge confirmation process. we are covering two big stories. lauren: and stocks suffering biggest losses in months, the dow sinking 350 points before closing down 200. cheryl: selloff all about interest rates, sparking about
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inflation. right now the 10-year is up two basis point. lauren: today the mother of all make reports, the september job's report is due out in just over 3 hours ahead of that futures are pointing down, dow off 32 points, s&p down 4, nasdaq down 24. cheryl: in europe stocks opening lower, as you can see every major index in is red. lauren: nikkei down almost 1%. cheryl: tesla ceo elon musk back on twitter taking aim at sec, did he violate the terms of his settlement? fbn:am starts right now. ♪ ♪ lauren: tgif, 5:01 a.m. in new york. october 5th, good morning, everybody, left side. cheryl: good morning, i'm cheryl casone, the news will go all
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through the weekend with kavanaugh. lauren: absolutely, if you have saturday night plans i hope you are watching. cheryl: supreme court appears to be coming to an end. procedural vote to cutoff debate scheduled for later this morning, the result most likely determine if he will be confirmed. but with four senators still undecided the outcome remains uncertain on the eve of the vote antikavanaugh protestors rally throughout the night outside of capitol hill. >> hey, hey, kavanaugh has got to go. cheryl: nearly 300 people arrested during the protests. lauren: at the same time president trump defending kavanaugh in rally in manchester, minnesota. >> he's been an incredible judge because they know that judge
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kavanaugh will protect, uphold and defend the constitution of the united states as written. [cheers and applause] lauren: in final push to alleviate concerns about his judicial temperament kavanaugh standing up for himself in an op-ed in wall street journal defending angry testimony, this is what he writes, at times my testimony both in opening statement and in response to questions reflected overwhelming frustration at being wrongly accused without corroboration of horrible conduct completely contrary to my record and character. my statement and answers also reflected my deep distress at the unfairness of how this allegation has been handled. you can call that his closing argument. ahead of today's vote the chairman of the senate judiciary committee republican chuck grassley will be on mornings with maria, you don't want to miss that 7:30 eastern time. cheryl: really looking forward that interview. other story is the stock market
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pulling back as treasury yield surge, dow gave up more than 200 points yesterday, down three quarters of a percent. s&p down 23, nasdaq lost 145 obviously the market is the big story as well this morning. lauren: investors are awaiting september job's data, this is what the estimate, 185,000 jobs created last month that's down from the august read of 201,000. economists also estimate that wages grew 2.8% year over year and that is down a tick from the 2.9% growth that we saw in august. we will have as always pleat coverage and analysis of job report here in mornings with maria 8:00 a.m. eastern jobs in america special. cheryl: let's bring in chief economist craig, good morning. >> good morning. cheryl: story, though, if you look at the bond market seems to be the weakness in the rest of the world and there are worries now about inflation especially
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with the 10-year treasury at 3.21%, this seems to be the story that if you have inflation the fed will start hiking rates more aggressively than really investors are planning for as of now, what is your take on what we are seeing in the 10-year? >> well, i think this you hit it on the head, concerns that the economy is very strong, we know that and we have seen the data, earlier this week we have seen index highest reading since in 20 years, we saw the adp employment report better than expected and then you had fed chair powell come out and say that we were a long way from neutral. the markets think that the feds will gradually raise interest rates up. so for him to say we are still a long way away i think that spooked the market and the challenge that we had today is for technicians, once we get above 3.11, there's air pocket
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there, they are looking for price guidance, they are looking for support and that really i think exacerbated the move higher that we saw on wednesday. cheryl: the bigger question certainly what we will see in job's report, adp coming much stronger than expected, jobless claims coming in pretty strong. we saw wages grow 2.9% year over year for august. you see jump in wages, that's where we do see a big of a jump, and then you see maybe growth in factory jobs, maybe the unemployment rate tick down another fraction of a percent that to me say that is the market is going to selloff again today. >> i think the market is really wound up right now and with the selloff on wednesday. if you saw a really strong earnings number today i think you could see yield rise again which i think would weigh on stocks again, you could see a really volatile reaction. on the flip side if you see a weaker earnings numbers, a lot
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of attention paid to the positions and you can see yields snap lower quickly. we are wound up right now, the market, we could see volatility, the biggest would be hourly earnings number. cheryl: i think factory numbers will be interesting good as well. some of the pressure that we have seen isn't necessarily trade-related stocks, you had boeings, caterpillars under the consumer is about to be put under pressure if you watch market action from yesterday. >> yeah, i think really it was a broad-base, i think this was --
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a lot of momentum stocks that have rallied, nasdaq, tech stocks, those when you have a momentum swing when we saw yesterday or wednesday and then yesterday, those are the ones that are going to take the brunt of the move, they'll move fast and the most. that's a lot of what was happening. i think it was a big concern about the potential for fed funds rates and interest rates more broadly. cheryl: yeah, craig, there's a lot to watch today, we thank you for getting up early today, appreciate it, craig. >> great, have a good day. lauren: elon musk sounding again on sec on twitter. cheryl: did he break any rules, tracee carrasco with that story and other headlines. tracee: doesn't seem like he learned over tweets about taking tesla private. musk mocked the agency with this tweet. just want to say that the short
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seller enretchment commission is doing incredible work and the name change is so on point. musk has always been highly critical of short sellers, tesla shares fell more than 2% in after hour tradings after declining more than 4% on the day. did he break any rules i don't think so but was that a good move? cheryl: selling off the stock because they are worried that he will get himself in more hot water. there's also a doj investigation, that has not stopped and investor lawsuits have not stopped. they are giving lawyers ammo. lauren: plus $40 million that they had to pay for the other tweet back in august on the funding secured. oh, elon. cheryl: tesla has some competition actually and it's a surprising name. tracee: it is in new consumer report assessment cadillac partially super cruise outperforms tesla, steer brakes
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and said cadillac does the best job, tesla auto pilot system came in second. lauren: how is burger king using artificial intelligence? [laughter] lauren: you're laughing. tracee: latest commercial might sound a little different and this is why i'm laughing. >> burger king logo chicken is in the new potato, we are not sorry, chicken fries from burger king, forget potato. [laughter] tracee: as you can hear those commercials sounds like they were written by an artificial intelligence robot which we know known for misusing words having awkward grammar, so burger king playing off on that, kind of a bizarre commercial, but -- cheryl: is that going make me eat chicken fries. lauren: foreshadowing that the robots will be making the fries. cheryl: pretty darn good.
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lauren: they are good. cheryl: we will see you later on in the show. lauren: stick with us, he's accused of posting republican senators' personal information online during kavanaugh hearing but this intern wasn't going to stop there. the chilling new plot involving lawmakers' children and one family panic went over a thousand dollars went missing, poof, but you will not believe where they found the money and who took it. day two of selling, dow is off just 24 points but building on 20-point off selloff yesterday as interest rates reach 7-year high. you're watching fbn:am. alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today.
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lauren: happy friday, let's get you caught up with what's happening now, futures pointing lower continuing the selloff that we saw yesterday. the nasdaq giving up another 20 points which is a quarter of 1%. well, check your freezer, 6 and a half million pounds of ground beef being recalled after outbreak of salmonella in 15 states, meat from arizona base producer packaged july 26th and september 7th, the usda urging customers to throw out the beef or return it where they bought it. well, a democratic congressional intern is charged with posting the personal data of republican
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senators online and also threatening to expose their children's information, that intern threatened to expose kids' health records as well as social security records. he now faces up to 20 years in jail. this is a 2-year-old boy, shredding a thousand dollars, the parents had been save to go buy college football tickets, the parents say the treasury department might be able to place the money but it could take up to 2 years to get it back. the question is what do you do to the kid? cheryl: he's not going remember it. the treasury actually potentially can accept that money, many people don't know that. all right, still ahead, the political fight over judge kavanaugh's confirmation has being nothing short of dramatic but is the democrats' strategy
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working? >> look at the polls over the last 3 or 4 days and it shows that their rage-fueled resistance is starting to backfire at a level that nobody has ever seen before. cheryl: and this confirmation circus only energizing republican voters and one person that may not energize mark zuckerberg, the new fight inside facebook over supreme court showdown, take a look at futures, it is job's friday, we are getting september report today, big selloff yesterday and the selloff continuing in the futures market, s&p down 3 and 3 quarters, nasdaq down 21, you're watching fbn:am. how do you win at business?
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cheryl: well, it may feel like an indian summer in the northeast but not so much in other parts of the country. lauren: fox senior meteorologist janice dean, happy friday, good to see you. janice: happy friday, yes, a good one for folks across the northeast, for the central u.s. we are going to be concerned with flooding, so let's talk about it. we have the persistent pattern with this jet stream that won't judge, north of the jet stream that's where we are getting snow, snow across the rockies, snow across northern plains and along the front draped across the central plains, we will get a lot of rain and in some cases upwards of 4 to 6-inches in some isolated spots so, again, flooding concerns from texas all the way to the great lakes, over the weekend as we see the areas of low pressure that ride this frontal boundary that just won't
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budge and look at the snow if you're a skier and you love the snow we are getting it early and a lot across the rockies and into the northern plains, so that is what is happening, on the flip side still talking about the tropics, we are watched area of disturbed weather across yucatan peninsula. cool temperatures behind the frontal boundary. that's where we see potential snow and higher elevations, still very warm across the south, though, feeling like summer time, here in the northeast we will enjoy a spectacular weekend with temperatures in the 70's and lots of sunshine. cheryl: i saw snow on the map, was that snow? janice: there was snow there, my friend. look at that. not there but across the rockies. cheryl: skiing, skiing, we will leave it there. janice: always silver lining somewhere. lauren: thank you, see you monday. cheryl: maybe this will be a
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good ski season, we will ask her monday. coming up next as fate hangs in the balance judge kavanaugh defends himself against critics who say he was too emotional at senate hearing last week but should temperament matter when considering him for the supreme court? and winter is coming for game of thrones' fans. >> run! cheryl: when we say goodbuy -- good-bye, dow is down 23, nasdaq down 19, you're watching fbn:am
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i want some more what's he doin? please sir. i want some more more? he has asked for... thank you well he did say please yes he did and, thank you (all boys): thank you, thank you, thank you. >> he was announced for one
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simple reason, he's an incredible intellect and incredible person and incredible talent. [cheers and applause] >> hey, hey, kavanaugh has got to go. lauren: those protestors want him gone but he may be confirmed and confirmed very soon. we are just hours away from procedural vote to start the confirmation process of judge brett kavanaugh to the supreme court, we are covering two big stories today, the confirmation battle. cheryl: and stocks selling off around the world, the dow sinking 350 points before closing down yesterday 200. lauren: selloff was all about interest rates, big jump on the 10-year treasury sparking concerns about inflation, the yields right now 3.21%. cheryl: and today the mother of all economic reports, the september job's report is due out in just over 3 hours, taking a look at futures right now as you can see we are to the downside but coming back a little bit we should say, nasdaq down is down as well.
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lauren: stocks in europe down as well, biggest decliner is german market, down 3 quarters of 1%. cheryl: nikkei down almost 1%. lauren: final season for game of thrones, now amazon ends netflix think they both have the next big blockbuster. fbn:am continues right now. ♪ lauren: just before 5:30 a.m. in new york, friday october 5th, good morning, i'm lauren simonetti. cheryl: good morning, i'm cheryl casone. i hear the game of thrones show is pretty good. lauren: neither one watch it. we are the minority here. another selloff in u.s. treasuries, sending yields sharply higher, the yield on the benchmark ten-year note 3.21%. that is weighing on the stock market yesterday seeing its biggest losses since june, let's bring in fox news contributor
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john lay feld to discuss. john, futures relatively stable this morning, is that signaling to you that the selloff was one and done or is this wait and see ahead of job's data? >> i think it's wait and see, it's not necessarily the job's data, i think we know the job's data has been good. the economy is on fire, hitting on all cylinders, the market is trading on the economic fundamentals and not necessarily the president's twitter timeline which is good thing, this is good for the economy that the market can actually get a normalized interest rate environment, we were too low and when you're too low you don't have a shock absorbent in the system in case you have systematic prices like the oil prices. the u.s. economy is the best economy in the world. look what's going on in germany, japan, india, the u.s. is still the place to be. lauren: do you think with selloff yesterday investors are priced in the fact that we may get 3 rate hikes in 2019? >> yes, i think they have, look,
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this has been very well done by the fed. i think jarome powell came out and said it was too optimistic, i think he misspoke a little bit. yes, the fed has done a great job of telegraphing their moves so there's no surprise on the market. the economy is trading and it is fantastic. lauren: number to watch is hourly earnings, let's say they go up and let's say they get the 3, does that send psychological signal to traders that, oh, oh, the fed will hike really fast and really strong? >> i don't think so. the biggest thing right now is not necessarily pressure and it could pretend that interest rates go more. that's still normalized rates, we are at historic lows, the biggest thing right now is oil
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prices and potential inflation that comes with that. lauren: you're fine with 25% rate? >> i'm fine with normal rates absolutely, we have low for a decade now. do i want 5%, i would like zero percent but i'm fine with normalized rates. lauren: everyone is talking about midterm elections, if you look at research the year after midterm elections has historically been the best year of the 4-year cycle for stocks, in fact, the s&p 500 climbed 15% on average the year after the midterms. can you see the market going up another 15% regardless of who wins? >> i can see go up. look, most of trump's policies,
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the party has lost 38 times in midterm elections, history say that is the republicans will probably lose the house, even if they do, though, most of trump's progrowth policies have been put in place, in fact, have not only progrowth policies put in place, the ones that could potentially hurt right now, the trade wars and tariffs, they the ones on the table right now. i don't think anything happens with the economy even if democrats take the house. lauren: got it, john layfield, happy weekend. >> you too. cheryl: all right, well, lawmakers are getting ready for what could be the final showdown over brett kavanaugh's nomination to the supreme court. procedural vote is scheduled for this morning with final vote expected this weekend. today's action coming after the fbi found no corroborating evidence of sexual assault, kavanaugh taking an extraordinary step writing op-ed in wall street journal defending his judicial temperament. let's bring in attorney randy.
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randy, good morning. >> good morning. cheryl: op-ed was pretty fascinating, i want to read part of what he wrote in the wall street journal in the op-ed, he said i was very emotional last thursday, more so than i've ever been. i might have been too emotional at times and my tone was sharps and i said a few things i should not have said, i hope everyone can understand that i was there as son, husband and dad, i testified with five people in mind, mom, dad, wife and daughters. temperament. >> interesting dynamic, certainly when you ask yourself qualifications to sit on the supreme court no question judicial temperament. even in traffic court judicial temperament is whether or not you're qualified. remember something, i was critical of judge kavanaugh's demeanor and behavior during the hearing, the truth he was not acting as a judge, he was being
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judged, and the truth is how do we expect someone who is wrongfully accused if he's been wrongfully accused to behave, so perhaps he was in a no-win situation sitting there as the accused rather than as a judge. cheryl: that's a very good point. let's talk about this report, democrats are coming out and saying that the report wasn't thorough enough, listen to some of the responses we heard from the dems on this. >> the most notable part of this report is what's not in it. >> i disagree with senator grassley's statements that there was no hint of misconduct. cheryl: this report was 4 to 6 pages, interviewed -- 10 people that they interviewed. they talked to ramírez, they talked to two people that supposedly were going to corroborate her story and they did not we found out through leaks from senate judiciary and we have also learned that they talked to mark judge, they talk
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today leland keyser and none of them back up what ford said. democrats are speaking you didn't talk to ford, you didn't talk to kavanaugh, should they have? >> everyone is a little happy, everyone is unhappy, that's the definition of a good deal because if someone is too happy and someone is not happy at all, that's not a deal. so, again, this is all about it's a no-win situation. i don't think the fbi needed to speak with dr. ford or judge kavanaugh, we got them a million times over already, so you had a week to talk to those people who really haven't been spoken to enough, but let me just say what i think is the most important thing here which is first of all you're asking for an adversarial process without an adversarial process. no one is in trial. this is not a criminal investigation so it doesn't work, it's like being asked to
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sit in an imaginary chair. if there's no chair, you're going to fall down. no one was on trial so don't expect an adversarial process. cheryl: this was a job interview. this comes down to murkowskis, flake, it'll be quite a day, randy, thank you for the legal perspective, we appreciate it. >> thank you. lauren: mark zuckerberg facing employee back bash over the brett kavanaugh nomination. cheryl: tracee carrasco has that story and other news. tracee: good morning, according to wall street journal facebook employees are angry over top executive attending brett kavanaugh hearing last week in show of support for the supreme court nominee, when asked by employees about vp kaplin's attendance zuckerberg he wouldn't have done that. facebook ceo says that kaplin's
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attendance was a mistake. cheryl: freedom of speech, aren't we all free americans? vice president pence issuing a warning to google, what is it? tracee: vice president pence they need to reconsider business practice in china that involved turning over intellectual property or vetting beijing oppression. >> google should immediately end development of the dragon fly app that will strengthen the communist party censorship and compromise the privacy of chinese customers. tracee: google declined on pence's speech. lauren: okay, with game of thrones coming to a close, what are fans going to watch next? >> well, in hopes of filling the void for fans left behind for the upcoming end of thrones, amazon and netflix are stepping up game, a series adaptation of the fantasy series wheel of time
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fantasy series and netflix announced development deal for movies based on the classic chronicles of narnjia. netflix working on adaptation of the fantasy the witcher. cheryl: a lot of good stuff coming out. tracee, thank you. we have a lot more coming up, the new aviation bill heads to president trump's desk today, so will you get that extra leg room. lauren: please. cheryl: what about your emotional support? lauren: no. cheryl: we will tell you what is in and what is out. what's the most stressed out state in the country? lauren: new york. cheryl: it is not new york. dow is down 21, nasdaq down 19 and a half. you're watching fbn:am.
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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. >> and welcome back, let's get you caught up on what's happening now, taking a look at the numbers, dow is down 22 in the premarket, nasdaq is down 20 and a quarter right now, that could change 8:30 a.m. eastern time. well, a new white house report reveals that u.s. industries responsible for making military defense materials has a, quote,
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number of vulnerabilities, these include number of shortage of skilled labors and fabrics that make tents and uniforms. and something else the president expect today sign off on today, the much anticipated federal aviation bill. the bill will restrict airlines from removing seated passengers once on a flight and give the u.s. government pow the other shoot down threatening drones. missing from the bill, limited seat. yeah, happy friday. finally, report by job site has named new jersey as the most stressed out state in the country. study used 6 criteria for determining stress like long commute times, hours worked an population density, georgia and florida top three and new york came in fifth, iowa topped the
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fifth as the least stressed out state, i don't know, what do you say, new jersey? lauren: absolutely, traffic and taxes. yeah. cheryl: i thought new york would be number one. lauren: it's fun no new york and not new jersey. president trump is warning the democrats' criticism of judge kavanaugh is actually hurting them ahead of the midterms. >> but all you have to do is look at the polls over the last 3 or 4 days and it shows that their rage fueled resistance is starting to backfire at a level that nobody has ever seen before. lauren: consider this, according to npr pbs survey in july there was a 10-point gap between number of democrats and republicans saying the november elections were very important, now that is down to 2 points, a statistical tie, we bring in eric president of nueva horizons
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and democratic strategists, gentlemen, happy friday. >> good morning to you too, lauren. lauren: 5 hours from now the procedural vote on nomination of kavanaugh in the senate and as the president said we had democratic enthusiasm opposed to trump, oppose to his style, that's now perhaps and i'm curious your take being cut by republicans wanting to defend what has been done to judge kavanaugh. >> well, to be honest with you we can make predictions, we have 5 weeks to go before midterm elections and the important thing about that that's a lifetime when it comes to politics, anything can happen between then and now. we have 52 weeks in the year, donald trump could put out another 52 tweets that changes election another time, anything can happen in a couple of weeks and i'm not going to rush into conclusions. lauren: this is an active news cycle but eric, it seems to me that the kavanaugh story has had most staying since presidency.
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>> much less intense and much less controversy and what not, certainly and i think certainly it does have the possibility to increase turnout but, yeah, once again, we are still a while away from the actual election day and a lot can happen until then, the most important poll is on election day. lauren: yeah, we are looking at a lot of undecided, flake and collins, they said maybe were hoping they actually confirm him, they said the fbi investigation was thorough, murkowski, we have no idea, then there's senator manchin, he is returning to look at the fbi report once again today, so he's on the fence. if you watch the polling here hamzaf some of the key senators oppose kavanaugh we are seeing in their states voters are less likely to elect them and we are seeing that with specifically
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with john donly and heidi heitkam, she said she will not vote for kavanaugh, what do you make of that hamza. >> we are watching one poll, let's not jump to any conclusions here. the other thing to keep in mind, i expect u.s. senators to be doing their jobs in terms of due diligence in terms of picking someone in lifetime appointment, let's not get into politics whether we should be supporting based on polling data, that's just un-american if you ask me. lauren: now we are talking about temperament, eric, when you're accused of gang rape shouldn't you be fiery of defense of yourself and your family? >> i think certainly that's one natural reaction, i certainly did see on display. i do think that for supreme court justice, you know, there should be a certain level of restraint given extraordinary situation and we saw judge kavanaugh in wall street journal
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op-eddies cousinned how he felt that he had perhaps stepped over the line in this hearing. lauren: do you think he stepped over the line as republican, eric? >> in some wayses yes, if he truly believes he's innocent, dramatic front, there's high standard and he definitely should demonstrate that kind of calm, reassuring nation. lauren: hamza sitting home as a man, did you say you know what, he needs to be proven guilty, not proven innocent? >> sitting home as a man the first thing i did was call my mother, my sister and my cousins that are women and asked him if there's ever been a situation where i've been less than a man, gentlemen to you i'm sorry. we are talking about women, lauren, it's really about you, cheryl and half of this country who are female to really talk about this and bring the issue to light, if we have a sexual assault problem in the country
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which we, do it's a huge problem, we should be talking about it in the forefront every single day. lauren: hamza khan, eric, thank you. cheryl: obviously this week about the confirmation battle but also going to be about football and in thursday night if you -- football whether you love him or hate them tom brady throws another milestone, great they to be american, full day of playoffs, rivalry between new york yankees and boston red sox, taking a look at futures on job's friday, we are actually coming back on futures market, we are only down 13 right now for dow futures, s&p 2 and a quarter, nasdaq 16 and 3 quarters, we shall see, we are watching fbn:am (guard) what i've witnessed... controlled fury. freakish intelligence.
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cheryl: breaking news, the nobel peace prize to doctor, the norwegian comety says that they have made a crucial contribution to focusing attention and combating such war crimes. treated vims of sexual violence, yurad spokes women for women abused by isis. lauren: congratulations to them. cheryl: jared max, another win for new england. jared: they started slowly, 1 and 2 record, the brady bunch is, indeed, back, last night they had the full group of players, patriots taking on the
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colts, thursday night action on fox, tom brady led new england 24-3 half time lead, connected with patterson for 1-yard score, brady muscled way over goal line for short run, by the time he found james white late in second quarter it was 21 to 3. colts would get within touchdown in fourth quarter, brady did this. >> a lot of time, pass to end done. gordon, end done. good for 500 and regular season career of tom brady. jared: 500 career touchdown passes. patriots scored 38, they beat colts 38-24. national division series underway thursday, dodger stadium in la, the dodgeers home
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run, went deep, shortly after, max would also hit a home run of 3-run shot, dodgers often running, no question about starting kershaw game, fantastic, dodgers 6-0, game two tonight and kershaw will be on the mountain. dodgers in command. sánchez goes to atlanta. houston astros begin quest to repeat best, game one division in houston 2:05 eastern, verlander with corey and later game fun time at fenway park, boston red sox, the new york post some days does really cool headlines, what they did today with full page blowout, the yankees climbing the wall. cheryl: nice, jared max, fox news headlines 24/7, siriusxm
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115. lauren: don't go anywhere 2 and a half hours from now the september job's report will be out, why this would be a market mover straight ahead. e the full value of your new car? you'd be better off throwing your money right into the harbor. i'm gonna regret that. with liberty mutual new car replacement we'll replace the full value of your car. ♪ liberty. liberty. liberty. liberty ♪
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lauren: stock futures are on hold, investors are waiting jobs numbers. jennifer, good morning. >> good morning, lauren, happy job's friday.
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lauren: i know, the biggest focus of the report, what do you think? >> wall street is watching wage growth, economists are expecting wage growth of 2.8%, that would be a down from 2.9% that we saw in august, i wouldn't look too much into that. it's not a te ter yación, it's more of a comparison issue. wage growth in 2017 due to hurricane, as long as we are in that 2.8, 2.9% range, you are on trend, you're around 3% wage growth. cheryl: okay, what does all this mean for the federal reserve and their future actions? >> yeah, if this report comes in as expected should reinforce interest rate increase as the fed is projecting. now fed chair jarome powell did speak earlier this week and he does not see the labor market overheating right now. he doesn't think that wages have
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to be inflationary per se and will continue to gradually increase but not so hot that it would feed inflation and certainly if you look at the fed's forecast for unemployment over the next 3 years it remains below 4%, just as inflation is expected to remain around 2 to 2.1%. lauren: the market has to interpret all of this, jennifer r. >> right. it will probably be taken in stride, inflation picking up so i think again it will underscore force interested rate increase. cheryl: a lot to watch out of washington, jennifer, thank you very much. lauren: we will say good morning and happy job's friday to maria bartiromo. maria: and to you, happy friday, thank you so much for joining us, i'm somebody and as friday october afifth, top stories right now just between 6:00 a.m. on the east coast, jobs in america, the september job's
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report is out this morning at 8:30 a.m. eastern, we are expecting 185,000 jobs to have been added to the economy last month with the unemployment rate ticking down to 3.8% ahead of the numbers let's check markets right here, futures indicating a lower opening for the broader averages, oh dow industrials down 13 points and nasdaq down 14 points as well. after weakness on wall street yesterday pretty severe selloff, dow industrials snapped 5-session winning streak, three quarters of 1% lower. the nasdaq sharply lower, down 146 points. that was almost 2%, the worst performer on the day down almost 2% yesterday on the nasdaq. global markets this morning, not far off, we have declines across the board, ftse 46 points lower, and the dax index in germany down 3 quarters of 1%, 86 points
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lower. in asia overnight markets were lower across the board as you can see there. the markets in china still closed for holiday. supreme court showdown, the senate closing in on confirmation vote on judge brett kavanaugh tomorrow with procedural vote this morning. on campaign trail president trump slammed democrats saying that their resistance will backfire. >> democrats have been trying to destroy judge brett kavanaugh. since the very first second he was announced, their rage-fueled resistance is starting to backfire at a level that nobody has ever seen before. maria: more on that plus kavanaugh's message in new op-ed in wall street journal, we've got it. fueling the fire, elon musk taking to twitter appear to go mock the securities and exchange commission, can you believe, the stock trades down again,

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