tv FBN AM FOX Business November 12, 2018 5:00am-6:00am EST
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may be over its potential purchase of hulu. a lobbying group from mid-size cable operators also turning up heat on comcast plans to saned letter to the department of justice requesting an investigation over anticompetitive behavior taking a look at comcast shares down 4% this year. and it is a merger monday in the software century german based buying privately held for 8 billion dollars in cash. companies use software to measure consumer sentiment facing utah head file plans to go public in october expected to close in first half of.
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down almost 5% check that out. alibaba single day was biggest online shopping day ever. >> tracee carrasco joining us now with more on that and other headlines. good morning tracee. >> alibaba recorded 30.8 billion dollars in sales during the 24-hour shopping bonanza known as singles day in china. despite china slowing economic growth and trade war with the u.s. that beat last year sales of 25.3 billion dollars. >> it is unbelievable. and i thought their economy was slowing down. [laughter] >> well the party is not going to last i think is the bottom line there. >> let's move on and to holiday spirit apple and amazon putting aside their differences right you can buy apple products on amazon what i thought these companies didn't like each other. >> that's right including products like parking lot leat iphone 10 are, and 10s phone and recently released macbook air and macbook pros to get those own amazon meanwhile priciest products are having
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issues. apple said dismays on original iphone 10 which came out last year may experience touch issues due to a component failure am l also reported issues with the 13 inch macbook pros apple will fix the efnghted devices for free. >> and who topped the box office over the weekend? yes. the box office never too early getting into the holiday spirit this weekend. ♪ >> what to do -- >> i'm going to see you there, christmas. >> dr. seuss the grinch debuted number one this weekend with 66 million dollars. in its second weekend bohemian "rhapsody" rounding out top five overload, the nut cracker and for realm and girl in the spiders web. >> one of those doing well very
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well and surprising only grinch does. tracee thank you for that. >> all right let's take a look at how u.s. futures are facing up this monday morning winning week for stocks but it was a dow on friday dow fell 200 friday and 41 this morning nasdaq futures up by 12 points. coming up, remember when facebook ceo mark zuckerberg claims there was no liberal bias at his company. >> ceo have you made firing position based on political decisions or what candidates they supported? >> no. >> how a fired facebook executive is calling out mark zuckerberg and hillary clinton change hadding her tune about running for president again in 2020. some competition could be brewing from a former coffee chain ceo, we'll have the leat. 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 all through the house95. 'twas the night before christmas not a creature was stirring, but everywhere else... there are stores open late for shopping and fun as people seek gifts or even give some. not necessarily wrapped with paper and bows, but gifts of kind deeds, hard work and cold toes. there's magic in the air, on this day, at this time. the world's very much alive at 11:59.
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>> well the dow soaring over 700 points last week. despite a set b.c. on friday, we ask will the bulls run again this week and we bring in kourtney dominguez wealth advisor to discuss. good morning kourtney. >> gorng thanks for having me. >> are you optimistic or or pessimistic? >> looking forward here especially as they continue through the end year. >> we have a lot of retailers reporting oklahoma home depot
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which one stand out to you and why? >> we have interesting earning this year and they have beaten earnings estimates this quarter. but that doesn't necessarily mean all of them have traded better so i think it is going to be interesting too so see how it comes thought week because not necessarily do they beat earnings estimate but their forward outlook there's been a really big increase in number of companies who have mentioned how the tariffs and china are going to affect not necessarily last quarter but their next few quarters doesn't get resolve sod seeing if there's any market outlook like that if it is going to affect things. that's where i'm looking right now more so than natural earnings themselves. >> that's home depot washes machines coming from korea are affected by tariffs. also tariffs on canadian lumber right plus this slowing and cooling u.s. housing market. what do you expect to hear from home depot? >> i think earnings are accepted to actually be pretty good this
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forward looking. but what the big thing we're going to look at is at the ensd of the month here the u.s. and china meet again, an if we can see some sort of resolution i think that's really going to forward looking be able to increase their earnings expectation and see take off. so ting between now and then we'll see cautious optimism here. but i am still optimistic of where it's going testimony >> no more toy are us stores and sears and k-mart closing locations which retailers benefit from closing of those stores? >> i think its biggest competitor is amazon right so i think looking at all of your brick-and-mortar retailers you may see them coming out here wal-mart is a major one who is going to stand to benefit but amazon is biggest competitor so see how numbers are going to come out it is interesting to see. >> finally here, you know, the growth stocks are kind of yesterday's news, and investors are are purge their money back into many value stocks and some old school names like proct and
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gamble are doing well recently what names do you put your money behind right now? >> that's a great question. we like to say there's value and value right now because they have been underperforming for quite a while here and starting to see those come back arranged i like to look at overall market. so value companies i definitely think have a lot of room for growth here. but when you look at october what you finally saw is u.s. was going up so far so fast whereas rest of the world wasn't so much and see people looking for value elsewhere and other next, five, ten years there's a lot of value oversee to take it a lot more cheaper evaluation there at the moment. : interesting kourtney, thank you. thanks for having me. >> i love it. all right, taking a look at how u.s. futures are doing this morning let's take a look at the mixed picture. dow down 43 and s&p 500 down 1. and nasdaq down almost 10. it is still ahead in the show today a startling sight for concert goers.
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when musician joe perry collapsed on stage this weekend. >> walk on the stage and then he dropped that was it. and a ton of people rushing in the the back but only -- [inaudible conversations] >> how the legendary guitarist is recovering this morning, and the champagne and beers what do they do staying true to their name what miller has on tap through holiday season take a look. you're watching fbn:am. ♪ you ok there, kurt? we're about to move. karate helps... relieve some of the house-buying... stress. at least you don't have to worry about homeowners insurance. call geico.
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500 down 1.5. nasdaq up 7.5. president trump better stay in paris to commemorate the 100th anniversary of end of world war i paying tribute to american soldier at a speech cemetery where u.s. members are buried. mike pence is currently in route to japan for the first leg of a four part trip where he'll repght the united states and several key summit meetings today he'll meet with prime minister abe before deapartment for sink per and gnu guinea. two time presidential candidate will give the white house another shot come 2020. the aid preare dictates clinton will announce her run after senate democrats announce there. but the in democrats may have another contender in mind calling for beto o'rourke to run for top spot say he would be a
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fresh face for the party. another fresh face former starbucks ceo hao schultz is putting together a team made up of political pundit led by campaign manager used by late john mccain for his presidential run. move signaling that schultz may be can be challenging president trump in 2020 election and that's what's happening now. >> well strong santa ana winds are fueling the wildfires out west. >> fox senior meteorologist janice is here with the latest. good morning janice. >> ladies i wish i had better news for our friends in california. at least 20 million people have red-flag warning up for the state of california. that means those santa ana winds are going to be ferocious today especially across southern california. where we could see wind gusts of 50 to 7 0 miles per hour so we've got this offshore flow, the winds are compressing and
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they're heating up and they're traveling very fast through those canyons and valleys and that's -- we have a big concern today. things will start to relax tomorrow but, i mean, they have big hurdles to get there for california and those firefighters that are battling record setting wildfires one other story we're watching big winter storm across central u.s. eventually to come up towards northeast later on this week. ladies back to you. >> janice thank you very much. let's get a quick check on futures this morning. friday and down arrow continue for dow and s&p this morning dow off 38 and s&p down 1 but nasdaq futures are higher. building by 11 points coming up on fbn:am terrifying scene out of control wildfires as janice was just talking about -- torched thowtion and thousands of acres and claim dozens of lives. >> very vicious, and it -- and it jumped like leaps and bowngdz like a superhero, i mean, it was crazy. >> going to california next --
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plus the housing markets affordability crisis takes hit how building home has gotten even more expensive when we return. ♪ that helps race teams improve performance and safety. bye. girls, don't wave at strangers. can now be built into everything we drive. when you apply expertise across an industry,
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>> people literally burning in their cars. running down the street abandoning their vehicles. dying on the road. it was just utter panic. >> just devastating firefighters are battling what is now deadliest most destructive and possibly the most expensive wildfires in history. we are live on the ground where strong winds and only fuel the flames. >> brutal story, and in the markets on friday but dow posting nearly a% gain for week right now u.s. stock market futures mixed we've got the dow down 31.
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the s&p 500 just barely a quarter 20 -- pardon me just barely down. nasdaq up 12. >> you know, lower oil prices were behind some of the selling that we saw on friday now it was pretty intense selling but now futures are -- are save p stabilizing oil is up 47 cents barrel a gain of half of one percent saudi arabia is will cut oil production next month or so they say. as opec js closer to reducing its own oil output. >> higher now let's take a look. cac 40 down 11. dax down 78 improvement there. >> this is your close in asia shanghai composite up one and quarter percent. the south kreag down a quarter of one percent. >> champagne of beers this is a great story. it actually looks like champagne right check out the body. fbn:am continues right now. ♪
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>> we're coming up on 5:30 in the morning in new york it is monday november 12th and nation does observe veterans day. thank you for startingy day with us i'm lauren simonetti. >> good morning i'm gerri willis in for cheryl casone financial >> good morning everybody. >> here's least on wildfires -- in california -- 31 are dead. more than 200 missing as a trio of fires devastate the state of california. more than 6700 structures destroyed. amounting to billions of dollars in damage, firefighters are racing to contain the blazes as strong winds continue to fuel the flames. live in ventura county with the very latest. ray. >> lauren and jerry are good morning we're standing in front of a road block on highway 21 with powerlines down on other side of it so we weren't able to go any further but to give you an idea of this scale of this operation trying to put the fire out, there are nearly 7800
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firefighters around the state of california battling these blazes now here in southern california, with the woolsey fire at 85,000 acres and 15% contained. firefighters are dealing with dry conditions, and steep terrain but one of their biggest struggles is the wind. it is pushing the fire fast and blowing embers into areas that have been burned including residential neighborhoods. that's why firefighters don't expect to have full containment for another five days this is how the ventura are county fire sheriff described the conditions yesterday. >> mother nature is still -- working against us. we saw yesterday we had in the weather and oivelg today picked up that's what we see over next three days is ebbs and flows of the winds and the challenges of that -- causes us. >> up north in butte county camp fire has at last update was 111,000 acres in 25% contain. 29 people have died in over 200
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missing in what has become most destructive wildfire in california history. but residents say they're determined to rebuild. >> my message is stick together people. we are a community. we are a family please stick together. we need perve to stick together in this. we're soldiers and survivors. >> now if there's any hope in any of this,st it's that here in ventura county some of the mandatory evacuations have been lifted. so residents can start to make their way home. gerri and lauren back to you. >> right thank you we want to bring you a heartwarming story in midst of that devastation that ray was showing you a 93-year-old world war ii veteran showing kindness and hospitality initially refused a hamburger that a woman offered him saying she should give it to someone who needed it and tried give hail shelter but he said he was fine sleeping in his car. how selfless his name lee, wow.
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an amazing what a story, lauren. all right let's go back to oil prices here, trading higher this morning after saudi arabia says it will cut oil production next month. that's a development comes as opec moves closer to reducing its oil output by about 500,000 barrels a day. have oil prices hit bottom in so analyst price future group and fox business contributor and chief investment capital they both join us now. so i will start with you, you've called selling in oil prices selling mania i saw in your note today. the average is obscure, though, the plummet in prices in some parse of the world in canada in the basin where they are 15 a barrel can this move by saudi arabia change things up? >> i think it can. i mean, in fact now i'm concerned they may overtight and i think that's a concern of a lot of people. i mean, right now market is really selling off not only because opec duped, you know, or
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donald trump duped o'opec into producing more oil and then graduating waivers to iran. but also because there's this perception that the global economy is slowing down. and to be honest with you when you look at the strong independent supply and demand numbers it really isn't slowing down as much as people think so opec overreacts cuts too much we could go from this perception of over supply, to undersupplied market very quickly. >> could change quickly and, of course, it is hard to remember are about a month ago we were talking about hundred dollar a barrel oil remember that? i remember it has amazing to me how quickly sentiment will turn arngd. cho to you we own big -- there's a -- a big stock exxonmobil right there. we all own stocks in our index funds what is the prospect for oil stocks will they see improvement here? >> yes, i think if the price of oil goes back up, then certainly the stocks should follow. they actually started trending high per post the election with
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broader market. even while oil was still falling. last week -- >> so you know, oil falling into a bare market is off of those lows, now, but in the interim while things are still changing, how low could oil prices go here? >> you know, i think we could potentially retest the lows maybe try to get below 60 dollars a barrel for short period of time. but i don't think that's going to be maintainable. we still have a shortage of fuel in the world right now. we're undersupplied we finers have to start ramp aring up production and i think at some point trump administration will crack down on iranian exports when that starts to happen market will tighten and we'll see prices come back up. >> all right let's go quickly, though, to good news for consumers here. joe i'll go to you. we've had -- an amazing drop in gas prices at the pump. we're about 270 now for a gallon of regular down 21 cents and in
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a month what kind of impact could this have briefly on consumers on the economy generally? >> yag, certainly retail gasoline coming down, going to oil prices coming down is positive for the consumer. that is extra discretionary spending power that they have that can go to retail. restaurants, even the movies as a you said it was the box office numbers earlier. and that's great employment is good headed into the holiday season, and if consumers have a little extra money in their pocket it is a probably positive for the economy. >> all good news phil and joseph thanks for your help today appreciate it. >> thank you. >> well more good news, because just before blk friday, ups averting strike from its freight workers. >> tracee carrasco joining us tbhow more on that and other headlines. voted in favor of a new labor contract avoiding strike that could have affected shippers around the country. the team contract covers about 11,000 workers at ups trade which trucks bulk shipments on
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shippers to stores and other locations. ups said freight picked up resume right after after stopped pick up orders to drop event of a potential strike. an you you've got news of buyina home could be bad for buyers and good for owners. increase by over 400,700 since is it began in 2012 that accordo a new study by triewl ya. roughly 3 million homes in the u.s. are wort at least 1 million dollars. many of them in california -- >> i love it. keep going up. miller highlights is staying true to its slogan. miller high life known as champagne of beers -- is turning that slogan into a reality for a limited time this holiday season. for the first time ever yes. highlights will be available nationwide in champagne style
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bottles. the upscale 40 ounce bottle of beer will retail for about three or dollars 50 cents significantly less expensive than any bottle of champagne. >> they that's awesome. yes. it's awesome. pretty i don't know if it is going to make me drink it or not. i'll drink it. tracee thanks for them. let's take a look at how stock futures are doing right at this very minute dow down 37 and s&p 500 basically flat. nasdaq up 14. and coming up in sports, the cowboys face off with philadelphia eagles including acrobatics get this by dallas runningback elliot, and congress man elect veteran dan crenshaw is gets the last laugh on "saturday night live." >> it would only fair if you got me become and made fun of a picture of me. it look like martin short -- [laughter] we'll have more you're watching fbn:am.
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the st. claus 3. by the way, one of these peoples actually good on s&l. [laughter] oh. crenshaw lost his eye when he was deployed overseas serving as a navy s.e.a.l. but saturday night that was pretty funny stuff. >> good stuff i like to see that well saturday night football arrival rei renewed in philadelphia. bring in jared max with the latest in sports. good morning jarred. >> good morning nfc rivals wrapped up in nfl season as eagles posted cowboys last night. a game was tied in fourth quarter until iowa elliot from dax first two scores in first quarter for zeke who ran for 152 yards here's this one yard run with three change left gives a dallas 27-7 victory defending super bowl champs. another milestone for drew brees saints quarterback who began all time leader in passing yardage
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yesterday he passed brett favre for second most touchdown passes ever. new orleans won its 8th in a row 51-14 against cincinnati. the l.a. rams beat sea hawks to yesterday and announce before game that game worn jerseys worn by captions to benefit first responders and victims of the wildfires as well rams tackle said that he's donating yesterday's game check to ventura county community foundations the victims fund. to benefit victims of the shooting. last week hockey players on l.a. kings and minnesota wore paves on jerseys with word enough last night. lakers and hawks did the same with names of the 12s from thousand ok last week lebron james vocal about this last night. >> when i was younger we didn't have are to worry about gun violence that much if you have a
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problem with somebody poem were like shooting out and don't have a problem with somebody. they just have a problem with themselves or, you know, a problem with the situation they're in. >> lebron james says enough. the final four set for next woke's nascar championship in homestead florida after a late crash that took out kurt busch and chaste elliot kyle busch won race in phoenix to ensure a spot in next week's race along with joey martin true x. junior and kevin harvey. blue 22 blue 22 said hut, hut come a long way since play calling and omaha did you hear yesterday, what rams quarterback said at the line of scrimmage. >> jumped up -- it a really next level he jumped up to a really next level -- >> yes. he was yelling halle berry. the actress responded on twitter -- she was writing on what is halle berry turns out this was actually a play call --
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that head coach shawn came up with they didn't explain what it was because they might use it again. but it's a good audible. >> love it jared thank you when you can catch sports reports 247 siriusxm meryl streep. [laughter] >> gerri willis. take a look at how futures are fairing right now. look at dow and century average down 2 and s&p up 2, and nasdaq up 24. hey we've turned all positive. >> valley halle berry. simonetti on two. break. coming up, congress returns to congress will democrats roll back president tax cuts? >> fact is that tax cut gave 83% of that tax cut to the top 1%. to richest people in this country. take a look at the futures of the president trump tax cuts and we know final words of washington post columnist jamal khashoggi. you're watching fbn:am.
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this is frank. sup! this is frank's favorite record. this is frank's dog. and this is frank's record shop. frank knowns northern soul, but how to set up a limited liability company... what's that mean? not so much. so he turned to his friends at legalzoom. yup! they hooked me up. we helped with his llc, contracts, and some other stuff that's part of running a business. so frank can focus on the beat. you hear that? this is frank's record shop. and this is where life meets legal. (tonand all thro' the house. 'twas the night before christma, not a creature was stirring, but everywhere else... there are performers, dancers, designers the dads and the drivers. there are doers of good and bringers of glee. this time of the year is so much more than a bow and a tree.
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welcome back happy monday let's get you caught up on what's happening now a reversal all futures are pointing up this morning. dow is up just three points and premarket s&p also gaining three points nasdaq jumping by 26. legendary guitarist joe is alert and responsive this morning after collapsing backstage just minutes after performing with legendary billy joel. paramedics giving the arrow smith rocker and rushing him to the hospital he had shortness of breath. 68-year-old representative says that perry is expected to return to the road later this month.
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and we wish him well. well i'm suffocating take this bag off my head those are the chilling last words of columnist jamal khashoggi according to a kurdish newspaper and he was reportedly murdered and dismembered inside the saudi consulate in istanbul turkey last month and mike pompeo warning that everyone involved in that murder will be held accountable. and "the wall street journal" is reporting that facebook executive palmer was fired from his job because of his support for trump during the 2016 election. lucky was criticized by his colleagues for donating to an anti-hillary clinton campaign reportedly sparking backlash at facebook for that anti-hillary clinton donation. that's what's happening now. jerry. following their victory in the mid-tomorrow elections, house democrats now speaking to reverse tax cuts for high income
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households and corporations. jenna ellis is director of public policy for the james dobson family rashell richie former press secretary for house democrat. rashell i'll start with you. so democrats here -- say that they're going to reverse this high income tax cut -- i have to tell you last week last tuesday i would have said i would have bet the book on gridlock if gridlock has been aing to i would have bought it. can they get this done? they have the house yes but not the senate not the white house. >> well look i think that they can get a done if you look at the numbers right now 49% of americans say that this tax plan did not help them at all and 45% say under this tax plan that their financial situation has not improved. obviously, this was extremely beneficial to the one percent of billionaire and millionaires in the country but at the a end of the day you still have a lot of americans that are robbing peter to pay paul so i definitely think they can get a done and i also think that we have to keep
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in mind that part of the reason why -- i think they really can't get this done is because the purpose of cutting the taxes is to put it towards structure i think that is something that is -- on both sides. >> infrastructure in a second but robbing peter to pay paul let me tell you janet who will get robbed the federal government. the deficit is ballooning, the u.s. on course to spend more on debt than defense. we're paying more and more is this middle class tax cut the the trump has been talking so much about is it ted on arrival can we pay or for it? >> well that i think practical reality here especially for the democrats is that you're right that they only control the house right now and so any bipartisan support is probably not going to happen. and so with president trump looking for, you know, two of the next two year when we've seen a gross in the economy yes we have still some issues with -- with the deficit certainly. but that's something that, of course, he is inherited and is
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toward fixing so they have of it a bipartisan support but i don't see that roll aring back any of the tax cuts under trump's main legislative win here is really going to be the type of strategy that the democrats are going to want to push forward. over the next two years because they're having to look at 2020, and most americans are still recognizing that capitalism and free market and tax cuts regardless of income level even for wealthy most americans want to direct and keep their own income for their families to make sure they still have enough. >> you're preaching to the choir here abouting taxes, obviously, but rah shl to you infrastructure you fraught it up has been a plan for paying for it. they say a trillion dollars would foot the bill and dems want to roll back tax cuts on individual tax rates is there any hope of getting that done? how as a practical matter does
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the party make that a reality? >> i mean i think at the bottom line is that reverse tax cuts i think that is their plan so when we're talking about that one trillion dollars that one trillion dollars is going to come from reversing those tax cuts. it is not going to be another add to the deficit and it is so funny to as -- you know as a democrat they're talking about how to decrease deficit when usually they're big spend and conservatives are more responsible and here you have democrats that are actually the ones trying to find a way to decrease the deficit but they can get it done especially when we talk about infrastructure. >> janet last word with here. >> well you know i think that if they're looking forward to infrastructure if they're looking forward to anything that's going to roll back anything of president trump tax plan they're going to have to provide some kind of incentive for republicans to get onboard otherwise that is dead on arrival and they have to figure out how to message this better
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because so many americans myself included really like the tax cuts. >> jenna rochelle thank you so much. >> thank you. >> well coming up oil prices are trading higher this morning for the first time in 11 sessionings. after saudi arabia says it will cut its production next month. reaction in the european markets straight heated. ♪
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>> well oil after being down for five weekses in a row is trading higher this morning, after saudi arabia said it will cut its oil production next month and opec moves closer to reducing its output we bring in from london craig, good morning. >> you know, have oil prices hit -- can we say that yet is this bottom to you? >> i mean are it is early to say at this stage we've had one update really of any significance so still quite early. but i think we are potentially nearing a bottom at the very least. and hitting these levels now we're starting to see oil suggest output cuts and not only oil minister as well. but joint monitoring committee who met over the weekend who also alluded to a similar outcome. >> and a lot of conversation about brexit is setback for british prime minister troughs may after political on decision forces her to cancel cabinet
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meeting to approve that brexit plan what's next for these negotiations? >> it seems to be two step forward one step back once again here in the u.k. i think next we need a piewpped a solution to the backstop deal and what they want to be time limited because they don't want ton stuck in endless union with e.u. that they don't have any control over. but obviously naturally euments it to be open ended because -- a duel without backstop is, obviously, just not going to be suit public because it is from point to hit that but once again it is very confusing very -- it is quite controversial. i do think they'll find a fortune to it but may be weeks to wait before that is actually found. >> european markets are searching for direction this morning. looking at our futures in the u.s., what do you think is the biggest force at play influencing markets today and this week. >> well i think this week there's a big focus on european
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we've just had a week in which the focus has been on u.s. with those midterms and fed decision. this week we have u.k. brexit deal and italy. >> thank you very much. we'll toss over to maria and mornings with maria. >> good morning everyone thanks for joining us i'm maria bartiromo and it is monday november 12th veterans day happy veterans day. your top stories right now, 6 a.m. on east coast devastation in california to report. three separate wildfires burning across the state. leaving path of destruction, the pictures are unreal. the blaze is killing at least 31 people with hundreds of others missing still. authorities are calling on resident to listen to evacuation calls. >> we do not put your lives at risk. we want to be able to go in to protect your homes, we do not want to have to go in to protect lives. but we will. >> we'll tack you live to southern california coming up,
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that's straight ahead. in florida, the recount now entering day two, rick scott's campaign launching more lawsuits alleging his rival bill nelson is committing election fraud. it is the latest developments. and retail earnings that focuses this morning hearing from wal-mart and how this week what results will hear about state of the consumer and economy coming up. plus, broader market reflect this under pressure this morning down had been 15 points s&p 500 is up one point and nasdaq right now 21 points a third of a percent. very much a mixed story after a the markets close on friday amid concern other oil, the dow industrials on friday down three quarters of one percent. s&p gave up one percent with nasdaq with a selloff down one and two-thirds percent on friday. will market this morning look like this and we see a mixed story there. similar to futures
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