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tv   FBN AM  FOX Business  October 10, 2018 5:00am-6:00am EDT

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recording president trump. thanks for joining us tonight. we'll see you tomorrow. good night from new >> let me be clear hurricane matthew is a monstruous storm. cheryl: hurricane matthew category 4 storm, national hurricane center warning michael could strengthen before making landfall. lauren: another wild ride for stock market. dow down over 150 points. the nasdaq found green, rising 2 points. cheryl: the yield is still sitting at historic highs,
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3.22%, that's a gain of 1 basis point. something to watch again today. lauren: how stock futures are going to respond. we are down across the board. nasdaq is down 17. cheryl: here we go again, europe stocks opening lower on heels of ims forecast, taking a look at index all in the red. lauren: in asia mostly higher but in south korea kospi falling more than 1%. cheryl: massive breach at google the company is rolling out two new products, should consumers trust them, fbn:am starts right now. ♪ lauren: 5:01 a.m. in new york, good morning to you, i'm lauren simonetti. cheryl: good morning, everyone, i'm cheryl casone. lauren: google and facebook are
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tone-deaf with new hardware when they have the security concerns. cheryl: yeah. lauren: big story this morning is the weather. hurricane michael is a cat 4 storm, barreling toward the florida panhandle, forecasters say it could be the worst to hit in decades. cheryl: jeff flock in florida where evacuations have been ordered, always the question, are people adhering to those warnings? >> you know, cheryl, this is a community that has large buildings, safe people so people not encourage today leave. i'm on the beach, though, and this also at low tide as what you see behind me now, i want to take you down to the water, we are at low tide now. the storm will be coming to high tide. walk with me and maybe you will see it. i can't emphasize enough, this is a classic hurricane in that i mean it's not like florence
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where you were worried about just the flooding and slow speed, this is moving fast but tremendously catastrophic, that's the -- let me get out of the way. we want to get surge until much later, there's light up here, maybe you can see me. all i can say you have a cat 4 storm, you will have what is called devastating destruction from the wind as well as the surge from that. this is much more serious than florence, if your home flooded in florence that's a shame and that's bad but this is one that could level structures. we would be here and that would likely happen during the day today, could be extraordinary day, cheryl, lauren. cheryl: jeff, you know, we've just gotten the 5:00 a.m. forecast, the forecast amc and that it could strengthen more. in your experience, jeff, with
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these storms, cat 4 seems something that we haven't seen in the area in 100 years or so in. >> probably in recorded history. this would be the most powerful storm i've covered since katrina which in a way katrina wasn't as powerful, much bigger and bigger swath of destruction but it hit the lowlands before it go to new orleans, this would come barreling in here and full strength when it comes in and that even in a -- we will show you the building later that we are in, even in that kind of a building that could do catastrophic damage up and down the coast. lauren: we still have hours to go before the storm is expected to make landfall so the worst worst is still yet to come, hours away. we have jeff yes, pick the light up there, we don't want to get it wet before the storm even comes. we are talking 3 and 6, that would be a storm in the
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daylight, a landfall of this magnitude in the daylight so that you can see the destruction in real-time, might be an extraordinary day to watch hurricane ifs you like them. lauren: jeff flock, thank you very much, be safe. severe weather is certainly affecting air travel in florida, some airlines canceling flights altogether, others offering discounts and waiving fees to those affected. united canceled all flights, pensacola international, fort worth beach airport which has shut down completely. delta airlines canceling 40 flights today and tomorrow, southwest are also canceling a handful. the airlines still feeling effects as many residents of hurricane florence, american and delta lost $80 billion from canceled flights alone after florence struck last night.
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cheryl: we want to bring our friend in joe, we have questions for you, let's start with 5:00 a.m. forecast that we are at cat 4 now as of 2:00 a.m. and they are saying the storm could actually strengthen even more. potentially devastating storm and lose of life, joe. >> a devastating form, strongest storm to hit part of florida. my company from sunday was saying this was going to explode and become category 4 storm and it was an ideal textbook case for this and the entire set-up, so there's no question that this is coming ashore with winds 130, 150 miles an hour, i don't think it's going to quite get to category 5 but the pattern was absolutely perfect for this kind of development, in a way it was opposite of florence, florence hit off peak and this is hitting at its peak.
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a lot of storms hit at strongest point. this is what this is i think to. this area, panamá city, that area, i don't mean to be morbid but it's going to get devastated. cheryl: panamá city and joe, we don't is have a lot of time with you, tallahassee as well, we are seeing report that is residents of tallahassee are preparing for worst storm in the history of the area, it's that devastating is that what you're seeing as well? >> yeah, again, you're talking to the choir. yes, tallahassee, you're getting the southwest georgia, even the area there, the storm will weaken or only be hurricane category 1 and tropical storm tomorrow but would run a lot of areas where florence dumped 2 or
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3 feet of rain. that's going to aggravate the flood situation in there and not all those rivers are back in their banks so that's a real problem in there also. cheryl: joe, the chief forecaster weather analytics, joe, thank you for being was, great voice to have obviously during the storms. >> thank you for having me. lauren: president trump narrowing down a list of people to replace outgoing un nikki haley after surprise resignation yesterday. >> i just want to let you know so at tend of the year nikki will be leaving. >> it's been honor of a lifetime, it's important that government officials when it's time to step aside. >> on the short list, dina powell, former deputy security council, some other names being floated are rick, u.s. ambassador to germany and even
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president trump's daughter ivanka although she publicly has declined the positn on twitter. the president is considering 5 candidates and plans to name successor to hailey in the next weeks. lauren: then there was 5, he was rally in iowa last night and wanted to lift caps on ethanol content gasoline, 15% ethanol also known as e-15. >> in my administration it's protecting ethanol, that's what you want to hear. cheerl cheerl. >> today we are unleashing to fuel our country all year long, not 8 months, all year long. lauren: e-15 currently banned during the summer driving season because it produces more smog,
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president trump continues his cross country tour today, he's got a rally in errie, pennsylvania. cheryl: at least two u.s. attorney general are looking into google data breach. lauren: tracee carrasco joins us with that story and other headlines making news. hi, tracee. tracee: investigating breach at google that may have exposed private data of 500,000 plus users, ireland's data protection regulator said it would gather more information from google regarding the breach. google said the issue was discovered and fixed in march, the wall street journal reported that google decided not to disclose the issue due to fears of regulatory scrutiny. cheryl: despite of all of that, amazing both of us, they continue to roll out new products, lauren used tone-deaf about this.
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tracee: can consumers trust google right now, google unveiled two new smartphones starting at $799 up with dated design and camera improvement, there is on your screen available next week, also the pixel chromebook at 599, 12-inch tablet with keyboard, microsoft service pro, small display with touch screen for kitchens an bedrooms starts at 149 and shipping later this morning. lauren: sears is taking another step in bankruptcy filing? tracee: could be this be a sign that tend is near, sears has hired m3 partners to prepare filing, retailer has $134 million in debt due on monday, the journal report that is sears continues to discuss other options and could still
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avoid an in-court restructuring that. cheryl: they do have quite a bit of real estate. tracee: they do, announced more stores shutting down. they are in trouble. cheryl: tracee, thank you very much. lauren: don't go anywhere because we have president trump laying out plans for new summit with north korea's kim jong un while hillary clinton takes a shot at republicans. >> you cannot be civil with a political party that wants to destroy what you stand for, what you care about. and we will continue to track the dangerous hurricane matthew now category 4 storm, janice dean will take a look at when michael is expected to make landfall and how bad the damage could be. damage on wall street, not too bad this morning after a rise yesterday the dow is fallen 35 points, the nasdaq
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finally positive yesterday and down again today, nasdaq down 15 points, you're watching fbn:am. when you're done, it looks so good you post a picture on social media. and it gets 127 likes. geico. fifteen minutes could save you fifteen percent or more on car insurance.
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- [narrator] at athene, we think it's time for the financial world to stop acting the same old way. in today's complex world, you need a partner that is driven to provide you with better solutions for these challenging times, one that is willing to disrupt the industry, and break free from conventional thinking. (thudding) we are a different kind of financial company. we are athene, and we are driven to do more. cheryl: welcome back let's get you caught up on what's happening now. take a look at futures after yesterday's wild ride, finishing fairly flat. dow is actually lower in the premarket, we are looking at a loss of 39 points right now, s&p 3 and 3 quarters and nasdaq down 16 and 3 quarters, a second
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summit between president trump and kim jong un is in the works, the president says he's currently eyeing 3 or 4 locations to hold the meeting. >> it is happening and we are setting that up right now, that was part of the reason that mike was going over to meet, they are setting up the meeting, we are talking about 3 to 4 different locations, timing won't be that far away. cheryl: confirmed that meeting will be after midterm elections. hillary clinton back again speaking out against republicans following confirmation of justice brett kavanaugh in an interview with cnn clinton dismissed the idea that democrats can be civil with republicans. >> you cannot be civil with a political party that wants to destroy what you stand for, what you care about, that's why i believe if we are fortunate enough to win back the house and/or the senate that's when civility can start again.
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cheryl: well, she went on the criticize republican behavior during the kavanaugh confirmation process. and then there's this, possible merging crisis according to annual report most emerging markets are to grow and some like argentina could suffer contractions. that is what's happening now. the markets were certainly eyes yesterday. lauren: absolutely. hurricane michael is top story today, it's become extremely dangerous category 4 storm and it is approaching the florida coast. cheryl: we have senior meteorologist janice in fox extreme weather center where the latest, good morning to you. janice: hi, this is becoming worst-case scenario unfortunately for the panhandle never experienced a storm in this strength in their lifetime across the florida panhandle.
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that makes it very strong category 4 on the scale, 130, to 156 makes it 4, we think it could strengthen before it makes landfall. storm surge would be the problematic portion of the storm, right side of the storm will bring worst than storm surge, 15 feet of water and that would put homes under the water in low-lying areas, that is going to be unfortunately the big problem with this not only that but hurricane-forced winds for duration of time, hurricane advisories up for the panhandle of florida. georgia and parts of carolinas will experience potential for not only tropical-forced winds but hurricane-forced winds, we will see wide spreed power outages, this could be weeks if not months in some cases where they perhaps get the power back
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on. so i cannot stress how dangerous and impactful the storm is going to be, it's going to go down in record books and unfortunately, you know, time is running out for people to evacuate. lauren: foot of storm surge thereabouts, scary. over a foot. janice: 15 feet. cheryl: i'm stuck at 15 feet, janice, you're right. janice: inundate neighborhoods. hrl cheryl coming up as janice mentioned residents in florida are bracing for the worst, we continue to track hurricane michael which again has been upgraded over night to cat 4 storm. >> do not underestimate the power of the storm, 102-mile an hour winds, 8 to 12 feet of storm surge, this would be devastating. cheryl: we will be taking a look at the impact of michael on oil
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prices, 40% of production shut down on the gulf, we will be talking about energy markets, as far as futures go on your wednesday, the dow is looking negative again, down 27 in premarket, s&p down 3 and nasdaq down 14 and a quarter. you're watchingfbn:am. expedia introduces add on advantage,
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lauren: dow jones industrial average down again yesterday, material stocks selling off the most as the 10-year treasury yield stabilized at 3.2%, joe flynn to make sense of it all. good morning. >> good morning. lauren: it's october and pretty month for stocks.
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>> october has more than 1% moves than any other month. interest rates rising put pressure on the market in short term, if you look over the last 50 years, 11 times that interest rates have risen, stock market has risen 10 of those times. you might have volatility pick-up -- lauren: material costs are going up, do you think we start to hear warnings like that when we start to hear third-earning reports? >> you can, you to look beyond that and say, you have interest rate pick-ups and cost of borrowing and that might put short-term damper on things but increase revenue and with 20% earnings growth this year and 10% earnings growth next year the market has room to run, things are going to get tight until you get 4% range at least
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from we can see at this point. lauren: other issue is fuel prices going up. >> absolutely. lauren: how do you expect the higher cost of energy to reburberate in the market? >> all of the types of the event that is hit you in the short run and eventually smooth out, all major things are regional things in the short run, i wouldn't worry too much about it, you to look deeper in fundamentals and those look very strong even with rising rates, we can support little higher rates here. lauren: i wouldn't expect that with the storm upon us and 40% of gulf of mexico production shut down but that's the case. >> traders. lauren: yeah, what do you make finally 30 seconds here of the imf warning yesterday cutting their global growth forecast including forecast for the u.s.
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economy for this year as well next? >> i mean, it's not a surprise, it's hard to follow 20% growth year with continuous 20% growth years, we are still the hot spot, we are still the place to be, europe has not done well although in september actually the international markets outperformed the u.s. for the first time in couple months. lauren: i will give you another one and the year after midterm elections are good for portfolio, i don't know the party might continue. >> you bet. cheryl: well, we continue to track this morning what is being described as potentially a catastrophic event, hurricane michael bearing down on the florida panhandle, emergency workers are preparing for the worst? >> we have been working over the past several weeks since florence had to restock, make sure equipment is ready to go
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both at state and local level. cheryl: live in panamáty as dangerous storm approaches, bill has made a billion dollar bet on starbucks, is he looking to disrupt coffee chain and we are watching your money this morning, taking a look at futures, yes, it was run, yes, it was a pretty wild ride, we are at 3.22% on the 10-year, dow down 28 to s&p down 3 and a half, you're watching fbn:am.
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>> let me be clear, hurricane matthew is a monstruous storm and the forecast keeps getting more dangerous, time to prepare is now. lauren: time is running out, hurricane michael upgraded to category 4 storm and could be strengthening bearing down on the gulf coast, this is described as potentially catastrophic event, live in florida. cheryl: we are looking at your
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markets, another wild ride yesterday, dow down 162 points at session lows, closed down with a loss, though, of 56. lauren: also watching the yield on 10-year treasury, now 3.22%. cheryl: holding strong there, that should be something that investors will look at today, they are, s&p down 2 and a quarter and nasdaq down 12 and a quarter point. lauren: they are still down in europe, worst performers cac in paris and dax in frankfurt. bill has invested a billion dollars into starbucks, what does he want to change at the coffee chain? fbn:am continues right now. ♪ ♪
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lauren: 5:31 a.m. in the new york in morning. >> cheryl: hurricane michael category 4 storm, upgraded at 2:00 a.m. eastern time. forecasters say storm can strengthen before it makes landfall. lauren: jeff flock in florida where residents may never have seen anything like this, jeff. jeff: if it comes in at cat 4, i don't think that anyone has seen this kind of hurricane unless they were in new orleans for katrina, perhaps, i want to walk you out into the streets, we showed you the beach, this was the streets of panamá city beach, you know, you ask about the number of people that are here, i don't know if you can see in the dark but there are large structures here, i don't want to turn kyle into the rain, we want to save the camera for later, that's a large parking
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structures, these kind of buildings encourage people to say, okay, it's not going to be that bad, if this truly comes in here at cat 4 and i don't think they'll be wide spreed devastation like in katrina, for example, where you had, you know, multistates, i do think at this point this comes to shore we would have very serious destruction even on buildings of -- of great strength and right now, you know, you see rain, bit of winds, these are the outer bands, this is where we will be staying, by the way, 25 stories up and the other thing about that is when you get up that high, that's where the wind is even stronger, so cat 4, haven't been to one of those in a while, we will see. cheryl: jeff flock live in panamá city, florida. right up l
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already 2 and a half to 3 and a half feet above the normal tide from panamá city beach where jeff flock was all the way to tampa bay, so this is also water story. >> yeah, storm surge and wind are going to be the big stories with this one unlike florence where it was almost all the
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rain, with this one especially on the east side of the eye in the big bend area, appalachia, that's more than a story deep of water rushing on shore and going well inland. lauren: that puts home under water as janice dean pointed out earlier, i hope we are all wrong and i'm thinking of the poor folks who are recovering from florence and now we are expecting, i saw another 5 to 8-inches of rain in north and south carolina. >> there would be localized area that see 10-inches of rain, with that amount of rain falling in areas devastated by hurricane florence we will continue to see areas that are going to see more flooding, not as significant but more flooding as they try to recover but right there in the area from florida, the other story is we are going to see hurricane-forced winds well
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inland as the storm moves, once it moves to shore into parts of southern guillermo and also south carolina could even see tropical storm to low-end hurricane forced wind, millions of trees will be down by this storm and also we will have some locations hardest hit that are without power and water for days especially right along the coast. lauren: infrastructure is certainly another story, charlie, thank you very much. >> thank you. cheryl: all right, more on the storm a little bit later on but this story reported locking to up its stake in we work. lauren: tracee carrasco will explain that and the other headlines making news for us. tracee: good morning, reportedly in discussions in taking majority investment in we work, would likely come from softbank vision fund which is backed by saudi arabia, abudabi funds and softbank which owns nearly 20%
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of wework. cheryl: that's interesting, let's talk about bill ackman, big investment in starbucks, we are wondering what he wants. tracee: that's right, bill ackman revealed funds have increased stake in starbucks to nearly a billion dollars, ackman told the crowd in 2018 conference in new york that his fund has 15 at any time 2 million shares of starbucks which is about $900 million, ackman says he likes starbucks because they care for its partners and aren't threatened by increases of minimum wage. lauren: looking to change anything at starbucks? tracee: i'm not sure if he is. lauren: what made shares jump in a big way? tracee: activist manager has accumulated $690,000,000.2.9%
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stake in ppg industries, that's one of the world's largest manufacturers and distributors of coding and special team materials with the market cap about $26 billion, shares of ppg industries jumped more than 5% in after hours trading on tuesday. lauren: all right, tracee, thank you very much. cheryl: we have got a lot more coming up for you this morning. another award show in hollywood goes political. >> you know what else is voted on by the people, midterm elections on november 6, get on and vote. cheryl: yeah yes, that was taylor swift, we will have some of the highlights and some low lights. we will take a look at the impacts on the energy markets of this monstruous storm, taking a look at the stock market, futures pointing to lower open, nasdaq down 13, yawr watching fbn:am
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ace. laura can clean up a retriever that rolled in foxtails, but she's not much on "articles of organization." articles of what? so, she turned to legalzoom. they helped me out. she means we helped with her llc, trademark, and a lot of other legal stuff that's a part of running a business. so laura can get back to the dogs. would you sit still? this is laura's mobile dog grooming palace and this is where life meets legal.
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lauren: happy wednesday, welcome back to the show, taking a look at the market, we are seeing declines once again today, similar declines for broader market as well. the american music awards brought performances and politics to los angeles last night. taylor swift kicking off the night with performance i did something bad days after breaking political silence. she got even more political when she accepted her artist of the
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year award. >> you know what else is voted on by the people, the midterm elections on november 6th, get on and vote. lauren: then singer endorsed beto o'rourke. shout-out, beto, love you guys. lauren: biggest winners camilla. now blackburn is hitting right back, the tennessee congressional candidate outlying the ways she helps women in an interview with connell mcshane. >> of course, i support women and i want violence to end against women, i've been active in abuse shelters and in child advocacy centers, i've been advocating for women and equal pay since i was 19 year's old
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and making certain that women have the opportunity for maximum pay and have a good record on that. lauren: blackburn defending herself, we will see if taylor hits back. the mega millions jackpot soar to, ready, $548 million after no one won last night, here are the lucky numbers, mega ball of 18, friday's prize largest jackpot in mega millions history, tonight is a huge powerball drawing with $282 million on the line, cheryl, someone is going to be lucky. cheryl: all right, unfortunately the folks, florida may not be so lucky today, hurricane michael is barreling towards that state and the american red cross is mobilizing, they are getting ready, deployed hundreds of workers and volunteers to provide relief, let's bring vickie to the american red
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cross, joins us via phone, as we look at storm strengthening to a 4, katrina was only at 3 at landfall, how devastating in your experience or maybe you've never had this experience in your time at the red cross, is the storm going to be on the folks of the panhandle? >> it's be catastrophic if hits scat goir 4 when it painings landfall but even at a category 2 there would be enormous damage and what the red cross asks to take steps to prepare, if there's a mandatory evacuation in your area, please, heed that. cheryl: also, vickie, i think this is really important, here is what you're telling people, i think this is crucial, you say build emergency kit with water and food, have evacuation plan
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for people and for pets and stay informed of critical updates, i mean, that that's crucial because a lot of times we found in the carolinas in particular folks did not leave when they were told to evacuate and they were unprepared and emergency workers in the red cross emergency workers found themselves in danger during hurricane florence, correct? >> there are always incidents where people are in danger, volunteers, staff, and citizens alike, it's particularly if they do not heed the warnings of their local officials, it's critical that people pay attention. cheryl: vickie, you've got to do back to back deployments because the flood waters in the carolinas had just receded and now you've got to mobilize red cross volunteers across the panhandle and also into alabama, how difficult is that when we are looking at certainly a power, loss of power and a loss of crucial services even cell
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towers. >> it's important for folks to know that the american red cross responds to nearly 64,000 disasters across the united states every year, so it's really not unusual for us to be responding to multiple disasters at once, the red cross works around the year, throughout the year around the clock to be prepared to have supplies and resources available. we maintain this network so that we are ready. cheryl: real quick, you the mobile feeding units and i'm curious as to where you decide where to place mobile feeding units because we've all know, we covered for years, the storm are unpredictable and you know don't where the worst devastation is going to be until after the storm has hit. >> that's correct, and when we
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provide mobile feeding, it is after we know it's safe to do so and we do it in areas where we have been allowed to go in by officials and those things are not decided until after the storm. cheryl: vickie, i know that your poll, still trying to recover from florence and here we go again. vickie thank you to the american red cross and all that you do and hopefully we will get update from you soon, thank you. >> thanks, cheryl. lauren: as recontinue to watch michael's path, storm expected to impact oil and gas prices, and we will have a check on the latest in sports as the red sox and the yankees they battle it out in the bronx. jared max is going to tell you who won. u.s. stock market futures this morning would be worst, the dow is down 26 points, sports fever television network down 3 points, nasdaq falling 14, stay♪
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close. ♪ ♪ what if we could turn trash into money? plastic bank is doing just that, by exchanging plastic for digital credits redeemable for everything from food to education... powered by ibm blockchain. when you understand the potential of new technology, you can put smart to work. - at afor the financialt's time world to stop acting the same old way. you need a partner that is willing to break free from conventional thinking. we are a different kind of financial company. we are athene, and we are driven to do more.
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cheryl: okay, new york fans, what an end to go a playoff game that happened in the bronx last night. lauren: jared max yankees, red sox. jared: yankees need today win or get eliminated. red sox led 2-1, red sox scored 3 runs in third inning, cc sebathia was gone, christian vázquez, 4-0 red sox. sox closer craig has a beer can thrown his way, did it rattle him, walked two batters and hit another in ninth, john carlo could have tied game swung garbage, struck out, neil walker hit by pitch and that scored run
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for the yankees, bases loaded, 4-3, what happens next? >> here it comes, the 1-2, going to be tough play. throws. >> yankees faced elimination and they were eliminated. [laughter] cheryl: sorry. jared: the astros against the red sox, the national league championship series will begin friday between brewers and dodgers in milwaukee. check this out, president trump's campaign store selling football jerseys, women and men, $99, stand up for america, the jerseys, of course, made in america. lauren: i like it, jared max, thank you very much. you can watch fox sports fox news headlines 24/7, channel
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115, boo, i liked the yankees. cheryl: big oil have evacuated platforms in the gulf as hurricane michael is expected to make landfall within the next few hours, what is the impact going to be on already soaring oil prices and gas prices too, we will be live at the cme, we will be right back.
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lauren: we are watching hurricane michael, that's causing oil prices to rise above $75 a barrel. we bring our oil guy phil flynn, this is going to be a big storm and what do you expect to be the impact to be on oil production in gulf of mexico? >> bigger impact. the bigger the storm gets, lauren, bigger threat to production. a couple of days when we were look target storm, maybe category 2 or category 3, most oil traders thought it was going to be nonevent but this storm was going the miss major refineries, on path where it wasn't going to do a lot of damage to oil platforms, but because the size of the storm is grow, traders are starting to rethink the scenario somewhat, right now as you mentioned, they moved a lot of the rigs out of the way, the ones that can be moved, the oil platforms are in the way of this storm and they can't be moved so they could easily be damaged, and once you
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get up to this size of a storm, the peripheral damage comes a lot greater, so i think the traders are taking it a lot more seriously this morning. cheryl: talk to me about the time frame here with regards to gasoline prices and production and pipelines and all that because the storm is, of course, going to stay once it hits land it will continue we believe up towards northeast, so how quickly can all of those platforms and everything be brought back online and what does this mean for gasoline prices? >> i mean, the u.s. energy industries have done fantastic job in bringing production back on sometimes within a couple of days, you know, the problem is when you have these production platforms that can barely sustain a category 4 storm it may take a little bit longer. now, of course, as trader you to balance the other side of that equation, you know, initially there's going to be surge of demand destruction because you will have no power, in electricity, nobody can drive
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but on the back end of that you get more demand when you start to rebuild, so you go through the cycle and the bigger the storm is the longer it's going to take to recover. the other market we have to watch is natural gas, you know, natural gas supplies have been below average and in past storms didn't move natural gas market because we are producing more on land but because supplies are so tight that market is on fire this morning. lauren: fill, i have 10 second, how high do you think it'll go in near term? >> i think 78 would be on high end but by the end of the year we are still targeting 84. lauren: phil flynn, thank you very much. >> thank you. cheryl: thank you for watching fbn:am, we continue, of course, to cover hurricane michael, we send it over to maria bartiromo, maria, good morning. maria: good morning to you, thank you so much. happy wednesday, thanks for joining us, i'm minnesota and it is wednesday october 10th, your top stories right now just before 6:00 a.m. on the east coast. breaking for impact, hurricane michael gaining speed right now
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and strength as it barrels towards the florida panhandle. the storm is category 4 storm, considered extremely dangerous. florida governor rick scott issuing a dire warning as millions of people are seeking higher ground. >> remember, we can rebuild your house, we cannot rebuild your life, kids, grandkids, all your family members, take care of them, take this seriously and keep your family safe. maria: we are tracking the storm's path with landfall expected tomorrow, we have the very latest. meanwhile president trump taking on the fed, he says the central bank is raising rates too fast, checking markets this morning, take a look at what we are expecting at the start of trading this morning, dow industrials expected to be down about 30 points, fractional losses across the board. nasdaq down quarter percent. the dow and s&p 500 posted decline, nasdaq with 3-day losing streak edging higher by just 2 points. i europe this
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morning, markets look like this, ftse down 100 but cac quarante each down two-thirds of 1%. in asia overnight, markets mostly higher, frassal moves but korean kospi index worst performer, better than 1%. close the other bankruptcy, sears making key hires signaling bankruptcy. ambassador nikki haley announcing exit from trump administration, former nba denise rodman ready to fill her shoes and what he's saying about nikki haley this morning. taylor swift takes political push to stage, find out what she said during last night's american music awards, all the stories coming up wednesday morning and joining know break it all down, fox business dagen mcdowell, former chrysler ceo bob nordeli and former presidential candidate steve forbes, great

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