congressman andy bigs and harmeet dhillon among our guests. good night from new cheryl: well, good morning, you are looking at life shot at rotunda as the nation will pause in honor of life of 41st president george h.w. bush. lauren: wall street will be closed as investors consider major selloff yesterday but u.s. stock market futures are trading this morning and to the upside, dow up 95 points, nasdaq up 39. we will tell you what else is closed -- what is open today on national day of mourning. cheryl: bond market is closed but, wow, investors debight a lot of signals from bond, slowing growth, worried about recession, the year on the

10-year closed below 3%, so -- lauren: oil is at 52.90, down 35 cents. >> europe reacting as well everything happening here. stocks opening sharply lower, also the british parliament will begin debate on plan to exit european union. lauren: stocks in asia, biggest loseer with 1 and a half percent. cheryl: changes that could hurt amazon. fbn:am starts right now. lauren: good morning 5:01 a.m. in new york, wednesday december 5th, i'm lauren simonetti. cheryl: good morning, everybody, cheryl casone.

lauren: president trump has declared national day of mourning for the funeral of george herbert walker bush, new york stock exchange a lot with all federal offices, u.s. post office and regular mail delivery suspended. cheryl: some banks and local courts are going to be closed today and the supreme court will be delaying arguments by one day. we are going to have more on the funeral services for president george h.w. bush in just a moment for you. lauren: meanwhile sea of read on wall street, yesterday the dow plunging about 800 points as investors try to figure out if the u.s. and china really reached a trade war truce over the weekend. cheryl: white house is trying to clear up confusion over trade talks, we get that part of the story from our very own blake berman. >> the white house clarifying that the 90-day negotiating window between united states and china began saturday evening and does not start on the first of

the year, the president remaining hopeful on trade deal ready to unleash more tariffs, president and i want deal to happen, remember, i'm a tariff man, that shot stock market lower. peter navarro said that's was omage. >> i think that's real money at this point and i think what's important here is the function of the tariffs when the president says he's a tariff man, he understands that one of the most important functions of the tariffs is make sure people invest within our borders. >> skepticism that trade truce will turn to trade deal. china has put $1.2 trillion worth of purchases on the table, still the administration discusses items in the lens of wait and see. >> and if that's real, again, we

have to have a negotiated agreement and have this on paper but if that's real that will close the trade deficit and it will be the structural changes that lead to u.s. companies being able to compete fairly in what's a growing china middle class. >> china reform commission outlined how it will investigate theft of intellectual property going forward, that's a big point for the white house which has ip staff at the very top of its list of structural reforms in potential trade deal. possible sign that china just might, indeed, be willing to cut a deal down the line. back to you in new york. cheryl: all right, well, will the stock sell off, let's bring in scott shellady, both working today with the markets closed, guys, thank you for being here,

scott, are we overblowing the concern about the bond market, you saw the 10-year below 3% yesterday, it closed, inversion and we will not get too into the yield curb but 10 and the 5 spooked people and all added to selloff yesterday, scott, are we overreacting do you think? >> a little bit. we are looking for the monster turned bed and i don't think there is one. look, we've had calls for 80 to $100-barrel for oil. some people get trade wrong. long oil, long bonds. expecting yields to get up. sometimes you can get it wrong and we have seen reaction to get out of trades and that's why you have seen yields go down and oil to 50 bucks and at the same time you have the yield in europe that are depressed, still

pumping cash in the system, quantitative easing around us and causing the further stuff depressed a little bit and can lead to yield curb inversion. i don't want to get too much in the weeds here but we haven't seen quantitative inversion, we still have qe going on in the world, i'm not too worried. >> scott makes good point in longer end of the yield curb is manipulated that the fed owns trillions of dollars of bonds, when you see inversion in front of yield curb between 2 and 5, short-term growth over next 2 to 3 years is expected to be better than years 4 and 5, this happened in years 50's and 60's and i tend to think that what happened yesterday the market is thinking that the economy will slow down dramatically in 2019, 2020, i don't buy it.

while 2019 might not be as good gdp as '18. cheryl: this is part of the rhetoric that came out of the white house that really affected investors yesterday. trump says i'm a tariff man, when people country come in way of wealth of the nation, they have to pay. sounds like we really don't have a deal, what do you say, scott? >> he's talking tough till we get a deal. is he going to come out soft right now? i expect this to be the case. a truce is something that we didn't think about. we have trade truce. i think they'll be deal at end of it. he has to stick to guns until he gets what he wants. cheryl: may hurt u.s. economy, michael, last word. >> $75 billion worth of taxes,

it's obviously better if we don't have them and hope that they come to agreement. cheryl: like your bullishness, i think you will be working on portfolios today. thank you very much. lauren: today we honor the life of george h.w. bush in national mourning day, in a few hours president trump and melania will attend state funeral and join nation as we say good-bye to 41st president. cheryl: ellison barber live in washington with more on today's touching tribute to especially some of the things that we saw yesterday bringing tears to many across the nation, ellison. >> back in 2011 george h.w. bush receives briefing on funeral and according to his spokesperson he asked do you think anyone will come, people have come and they have come in droves, there's a major line outside of the capitol this morning, people waiting and hoping to get inside

to pay respect to 41st president, politicians, celebrities and regular people have all come here to do exactly that. former senator bob dole, world war ii veteran, 95 year's old rose up from wheelchair to salute another member of greatest generation, the bush family is staying at the blare house which is the presidential guest house while they are here in dc, and privately met with them for about 20 minutes, the 41st president has been lying in state in capitol since monday and we are expecting it to leave around 10:00 o'clock, motorcade will carry the president's casket to national cathedral, president trump to attend funeral as the prince of wales and all living former u.s. presidents, mr. bush's son, president george w. bush to speak at funeral. after the service, casket of the 41st president will travel to joint base andrews and depart to

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. . . lauren: general motors under fire and ceo mary bara head today capitol hill today, will meet with ohio senators, gm plans to close 5 plants in north

america next year including one in ohio, the senators say they want general motors to save ohio plant. shares of gm are down more than 6% this year and got beat up yesterday. cheryl: ohio important state when it comes to politics especially to the president. at the white house president trump, by the way, did meet with top executives with german automakers, the white house says the president discussed investments in the u.s., commerce secretary wilbur ross, representative lighthizer and chief economic adviser larry kudlow met individually with executives, the groups from woks vagueon, meeting with volkswagen issued statement, they want more investment in the u.s., now it is up to the governments and the european union to find a solution that benefits all parties. lauren: former cbs chief moon

ves. >> reportedly destroyed evidence and interfered with an investigation into sexual misconduct allegations against him, that's according to "the new york times", lawyers conducted investigation found moonves to be untruthful and deliberately lied and minimize event of his sexual misconduct. cbs down about 13% year to date. cheryl: deleting emails, all kinds of crazy allegations against him. this is a heck of a fight for them. tracee: u.s. postal service could soon charge more for certain packages taking direct aim at amazon and other retailers, according to a report from a treasury task force, the postal service has not priced packaged deliveries based on profitability and said the agency should charge market base prices that are not deemed

essential services, we know president trump has criticized the postal service for not charging amazon and other retailers enough. lauren: all right, more bad news for amazon, then. speaking of bad news, this is good news for uber and lyft drivers but could be bad news for us, the passenger, what's going on. >> protect uber and lyft and drivers will earn minimum take take-home wage, raising average drivers pay by $10,000 a year, this is a first for the u.s. ride hail industry but as you said, lauren, could be right here in new new york city, coult more expensive. lauren: somebody has to pay for it. cheryl: i want to take a look at futures after yesterday's 800-point selloff, futures are trading, markets are closed today, of course, it is a

national day of mourning to honor president george h.w. bush but again futures are trading and they are higher, dow up 114 for now, we shall see what happens. still ahead beto o'rourke fueling more speculation, he's seriously considering a presidential run in 2020, plus shocking comments from one of the liberal colleagues on why democrats can't connect with voters. and continues. >> i don't know how to put this but i'm kind of a big deal. >> really? >> people know me. >> i'm very happy for you. [laughter] cheryl: anchor man is returning to the air waves, you're watching fbn:am. you're headed down the highway

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cheryl: caught up on what's happening now, futures are trading markets are closed today, of course, dow up 103 in remarket, s&p nasdaq trading higher as well. former president barack obama has met with congressman beto o'rourke, beto o'rourke possibly 2020 presidential run after he failed to win senate seat in texas in midterm elections, meanwhile michael avenatti has ruled out 2020 bid at family's request. democrats have trouble connecting with voters. >> one of the reasons with one of retreats was that we democrats know so much and that we have to tell everybody how smart we are. cheryl: adding that democrats adding to brains of voters but not hearts. i heart radio stay classy,

anchorman is getting own podcast. [laughter] cheryl: has committed to 2 seasons expected early next year, that is what is happening. lauren: sign me up. former national security michael flynn may be dodging prison time, mueller recommend today federal court that flynn receive lenient and more on what this means attorney david bruno, 19 interviews, david, what is the significance of michael flynn's help. >> certainly tremendous amount. 19 interviews referenced, he's also provided documents and communications and special counsel has stepped up and said, yes, this is an individual that should not be going to jail, it's interesting how this comes full circle because that's what jim comey said that trump said, let this go, right? and we are here. lauren: special counsel memo had

so much redacted, what do you make of that, good for republicans, good for the president or not? >> well, let's not forget that the purpose of the sentencing memorandum is for the judge, the judge to come down? sentence, this is not for public, this is not for network and others this was purpose for the judge, this was tremendous amount of redacted no doubt about that and what that says this is not over, these are investigations that are continuing. lauren: right. >> they've shown in this document that he was providing assistance to at least 3, one a criminal investigation that's completely redacted new separate and apart from special mueller investigation which is an interesting point that a lot of people are talking about today. lauren: does anything suggest collusion? >> nothing. absolutely not. not in the document, not in the plea, he plead to lying to the feds and even the underlying communication that he lied about is not violation of the law, this is a conversation with the

ambassador of russia and whether or not he brought up sanctions or not, this fits into what's being discussed about lying, perjury traps, you know, this is a situation where there's no other violations of the law that he's plead guilty to and especially not collusion or conspiracy to defraud the united states. lauren: yeah, so 30 million plus dollars and two years later we've got nothing or maybe we have something. >> i think something is coming. >> when do you see something coming, david? >> cosi, stone took the fifth for senate judiciary, do i expect that ball to drop, i don't know if it's going to touch upon the president or his team but certainly there's others that are dealing with wikileaks and relating to the hack. lauren: u david bruno, thank

you. >> pleasure. cheryl: we are higher, dow 104, s&p in green. we will see what happens tomorrow. stocks plunge on trade worries on signals of economic slowdown will that slow down the federal reserve raising interest rates? and today the nation says final farewell to 41st president. >> i think the presidency to build a better america is that simple and that big. i'm a man who sees life in terms of missions, missions defined and missions completed. cheryl: well, presidential historian jane hampton cook will be here and reflecting for us on a legacy of the former president, the 41st president of the united states, we will be right back. (toni vo) 'twas the night before christmas,

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>> our expectation is that phase one will be implemented immediately and when i say immediately that's part of the 90-day negotiation. lauren: well, those negotiations continue as the white house tries to clarifies trade agreement with china but confusion and worries about slow growth ahead sending markets lower. cheryl: markets will be closed for national day of mourning for president george h.w. bush, futures are trading, s&p nasdaq in the green as well. lauren: bond market is closed today but investors are debating signals that the bond market is flashing slowing economic growth, yield on the 10-year treasury 2.9%. cheryl: we are watching oil. lauren: european markets open, 1% decline in england as british

parliament begins debate on plan to leave the european union. cheryl: hang can he think and hong kong biggest loser losing 1 and a half percent. lauren: burger king has provocative plan to steal customers away from our arch rival mcdonalds, fbn:am continues right now. ♪ ♪ lauren: 5:30 in new york, good morning, i'm lauren simonetti. cheryl: good morning, lauren, hello, everybody, i'm cheryl casone. lauren: president trump has declared today national day of mourning for funeral of george herbert walker bush. all federal offices, u.s. post offices also closed, regular mail delivery suspended. cheryl: some banks and local courts in the u.s. will be closed today and supreme court will delay arguments by one day. lauren: market was open one day,

futures are trading today, we have concerns over flattening yield curb signaling economic slowdown helped cause major market damage that we saw. spread between the 2-year note and 10-year note hitting the flattest and narrowest level since 2007, let's bring in doug flynn and joseph, chief investment officer at nova point capital, gentlemen, good morning. doug, read the tea leaves for us? do you think it's signaling recession or slowdown? >> well, the 2 year doesn't versus 5 year doesn't that indicate -- lauren: inverted. >> most people looking at 2-year over 10-year, the 1-year over 2-year is big concern. what's a better indicater which doesn't get enough look is the leading economic index. that has a very good history going back to 70's, every

single time the last 7 times that that's been negative that has signaled recession 6 to 8 months but last month it came out at positive 5.9%, while it's indicating that the fed may not raise as much over the next year or so, it is indicating recession just now it's just the fears of that i think. lauren: bank of america, joe, calling the bear market vibe and they expect that vibe to continue into the new year, what do you make of that, bear market vibe? >> well, you know, i think people latch onto momentum, we certainly saw a lot of momentum selling yesterday, we saw it accelerate, some of it pragmatic and some individuals making investment decision, i think it's healthy. lauren: you guys don't seem that concern from all of the flashing lights that the markets are sending us. i mean, investors were seeking safety in such a big way, utilities, doug, the only higher sector, best day in a year?

>> that's true, that's because the economists have predicted last recessions and we talk about why astrology was invented, that's to give economics legitimacy assigns but realistically there's loom and gloom out there and the momentum he's right, that was riding things down, if you peal that back, you have corporate taxes after tax profits up 20% year over year, that's tremendous and the consumer is up 6% with after tax increases in their net earnings and most people haven't felt the effect of the tax cuts yet in their pockets to go spend yet, next year will be a better year, might not be a great a growth as this year but things are not all that they seem as negative, this is more of trading scenario. lauren: now big reset moment if you will because the market is closed today, thank you very much, gentlemen. >> any time. cheryl: market is closed because we are honoring the memory of

president george h.w. bush and in a few hours the casket will leave the capitol rotunada live picture as crowds are still lining up to pay respects, let's bring in presidential historian jane hampton cook. good morning. >> good morning. cheryl: you knew 41 and 43 and one of the most infamous moments which he talked about, h.w. talked about was the no new taxes, read my lips comment, how did that affect him in later years when he retired? >> well, i think it's something that he maybe regretted because the circumstances changed but, you know, when you look at reagan's legacy before he became president, he was limited government and lower taxes.

for george h.w. bush he focused on nobility, honor, civility and that's what guided him for than a political philosophy and i think that that's maybe why, you know, that's what happened in his life as far as the tax issue cheryl: that was a teaching moment including bush 43 and karl rove who has been talking about the legacy of both presidents is their relationship changed when they both retired an turn today relationship when neither one of them was president, shared experience for both having being there and that brought the men closer together, is that your understanding as well? >> yes, most definitely and you really see looking back before george w. bush entered public service, you see a lot of love, it was all about -- he always was telling his sons and daughter that he loved them whether it was in a note or in person and it wasn't, i think what's special about their relationship is that he wanted them to crank it back in is how

he phrased it, engage in public service but didn't specify how, you have to be governor, you have to be president, that gave george w. bush to pursue the very same, serve the public and then, you know, now they have the shared legacy of both being president. cheryl: when you look at the words and biography and biographer will be speaking today of george h.w. he talked about the way it hurt him the way his son was handled and advised donald rumsfeld, dick cheney, the vice president, the only time that you heard him speak out about his son's legacy and son's presidency, i find that fascinating. >> that is fascinating and i think he -- i think part of that is because george h.w. bush really valued interpersonal relationships, that was really what was the glue to his life and wrote all letters to people and i think probably seeing the

personal relationships maybe damaged by some of those policies, probably why he felt that way. >> yeah, vice president actually talked about those letters because he sent one to his son which was rare in his final couple of years and that might have been the best speech. it was great to have you on as we honor the legacy of this man. thank you very much for being here. >> thank you so much. lauren: two major car companies may team up for very good reason. cheryl: tracee carrasco with story and headlines. >> that coming from vw ceo following meeting at the white house along with other german auto executives from dimeler and bmw, threatening increase tariffs saying european tariffs

are unfair. cheryl: what's going on? tracee: remember the massive beef recall back in october, well, it has gotten even bigger, the u.s. department of agriculture says an additional 5.1 million pounds being recalled beyond that initial 6.9 million pounds of beef recalled two months ago for risk of con tam nag, salmonella, strain of fact earn that causes food poisoning, the beef products between july 26th and september 7th by jbs usa at processing plant in arizona, check your freezers, that's the concern that people may have frozen some of this beef and it's just sitting there in their freezers. lauren: speaking of beef, burger wars. tracee: burger king says it's turning more than 14,000 mcdonalds into burger king restaurants and it's all part of

its new promotion telling customers to go to mcdonalds so here is how it works, customers have to be within 600 feet of a mcdonalds location then they place an order for a one-cent whopper through burger king app, the deal runs through december 12th, promote burger king's app which offers mobile ordering, you have to go to mcdonalds to get burger king. cheryl: weird. we will see how that goes. thank you very much. lauren: stock markets are closed today to honor president george h.w. bush but futures are trading and they are trading to the upside, up 94, looking at the dow, investors are getting some time to see if cooler heads will prevail after yesterday's major plunge. so is fed chair jay powell going to rethink december interest rate hike, we will diswhich does and after getting briefed by the head of the cia about the death of saudi journalist jamal khashoggi, strong reaction from

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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. lauren: look at what is happening now, futures rebounding from yesterday's selloff, dow up 95, nasdaq up 42, markets are closed today, french president emmanuel macron has backed up of plan of fuel

tax amid yellow vest protest in the country. president trump blaming riots on paris climate agreement. several senators are now convinced that saudi arabia's crown mince mohamed bim salman ordered killing of journalist jamal khashoggi. >> mbs, the crown prince is a wrecking ball and complicit in the murder of mr. khashoggi to highest level possible. lauren: trump administration has expressed criticism. despite opposition one of the biggest overseas oppositions by japanese company, also one of the most indebted with having secured 31 billion in bank loans, cheryl. cheryl: federal reserve expect today raise interest rates

another notch this month but sectors of housing can force to stop short, let's bring in partner of digital risk, i want to play for you i think the key quote from jay powell when he spoke last week. he talked about obviously the rates are, you know, somewhat close to neutral, but listen to what he said about the pace of interest rate hikes. >> we know that moving too fast will risk expansion and moving too slowly could risk other distortions. cheryl: so he's on this, he really is basically saying that they'll be careful. there may not be 3 rate hikes next year. >> yeah, good morning, a look right now for the next 12 months, 2019 probably has one rate hike and i think as far as mortgage interest rates stay around 5%, i think that will be the sweet spot as we look for the first-time home buyers and

millennials to start coming into the market and i think that's where we are looking to be. cheryl: we are looking at 10-year, this is why we worry about inflation, but the auto and the housing sectors really have been under pressure, do you see that continuing into next year? >> i do. i mean, i think again the auto -- housing industry has macro economic issues, you had wage growth basically 50% of what home price growth has been in the last several years therefore affordability factor is major issue and the auto industry i still think there's good amount of growth in 2019 but very tight sectors. cheryl: i want to dig into housing, because that's sensitive sector and if we see interest rates rising again the theorists rate hikes at least 3

in 2019 can the housing sector handle that on the news of toll brothers that orders are actually down and they haven't seen that in 4 years. >> 3 rate hikes next year that will probably put the moving home buyer conundrum. first-time home buyer am i going to continue to rent or afford the 5 and a half percent interest rate and get the house that i want. again, i really think you're going to probably at the end of the day sigh one rate hike going in 2019 and that's kind of -- that's where my head is at. cheryl: what you're saying one rate hike in 2019? >> i do. cheryl: not 3. >> not 3. i think -- i know the signal 3 but i'm thinking probably one right now but, again, that's kind of what my prediction going to 2019. cheryl: it's interesting because

it's data dependent and they always say that when you hear fed speak and they go out and they say it's data dependent and they will watch that, thank you very much, great to have you here, thank you, sir. >> thank you. lauren: after yesterday's 80-point plunge markets are closed but stock futures rebounding this morning, dow up 95, s&p 14, european markets, they didn't get the best handoff and they are also worried about the british exit from the european union as prime minister theresa may suffers another setback. and we are remembering president george h.w. bush, we will get personal insights on what it was like to work with the bush family in the white house, you're watching fbn:am. the buffalo wing's been around. dozen wings. and did you know that geico... (lips smacking) offers mo... (coughing) motorcycle insurance? ho-ho... my lips are burning.

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lauren: americans are saying final good-bye to 41st president of the united states today, george h.w. bush, today national day of mourning but also day to remember the man who served most of his life in public service. let's bring in michael barns who work in the white house for george w. bush. that's powerful in and of itself, father and son, both presidents, father instilling to all of his children what it means to serve. >> yes, lauren, you're right, it's historic, of course, but that element of service within the bush family is something that no matter what you believe politically can respect that they had a strong regard for faith and what i appreciate most about george h.w. bush he was ridiculed for comments that he

wouldn't be prudent and had prudence that wrote character and decision-making and not ideology as we heard from historian earlier in the show. we can use the element of prudence in washington, d.c. these days. lauren: karl rove in wall street journal, greatest generation embodied timeless values at the heart of the american character and character is the word that keeps coming up to describe former president george bush. >> it is, lauren, just thinking about how he dealt with some of the massive world events that took place during his presidency, the collapse of the soviet union, he didn't gloat, he didn't celebrate, he allowed there to be peaceful end to cold war, he developed international coalition during the gulf war with swiftest victory for the united states since world war ii and reduce deficit by cutting spending, yes he, he raised taxes but didn't hand off massive debt to younger people.

that's ideal conservative and embodied values and i totally respect that. lauren: to reach bipartisanship, he said read my lips, no new taxes but he was able because of policies to usher in the amazing economy that -- >> of the 90's, yes. >> bill clinton, his opponent but friend help today give us as well. >> he had democratic congress for his entire term, so both chambers of congress were controlled by democrats and that's rare in u.s. history, so if you we wanted to get anything done, he had to deal with the democrats and what's important is to hear about his having raised taxes is that he started out by saying let's cut spending and the democrats require that he raise taxes but the best thing is that none of them allowed for them to pass on the excessive deficit spending to the next generation like we are currently doing and need to fix fast. lauren: so i think when we talk about character maybe some insights on the economy, it's all true today.

michael thank you for your -- for your insight this morning. >> thank you, lauren. cheryl: markets are closed today, big day in england. parliament can put kibosh. value of your car. ♪ liberty. liberty. liberty. liberty. ♪ i am not for just treating my symptoms... (ah-choo) i am for shortening colds when i'm sick. with zicam. zicam is completely different. unlike most other cold medicines... ...zicam is clinically proven to shorten colds. i am a zifan for zicam. oral or nasal.

when i heard that azalshe had a tumor, everything just became dark. when i came to st. jude, i started to get back some light in my life. on top of first-class, best care, you'll never receive a bill. so that you can zoom in and just focus on this child. the only thing we had to worry about was just keeping azalea comfortable. st. jude saved her life, and it saved us as a family. cheryl: british parliament

theresa may's plan. what do you think s parliament going to support or kibosh plans, sir? >> i think it'll get interesting in the next few days. parliament starts debate. the deal will fail, the biggest question remains around the number of votes that it will fail by, if it does fail which seems likely theresa may has 21 days to come up with alternative plan which meets the requirements of the uk parliament, ultimately there's no majority for a no deal brexit given recent events of the last 24 hours looks quite likely that prospects of no deal brexit has diminished significantly, theresa may's deal potential second referendum, potentially a vote to reverse article 50 and

remain, those are the options as i see them at this moment in time. that could well change. lauren: what is the likelihood of great britain remaining in the european union then? >> certainly increased given that opinion from the european court of justice advocate general yesterday that the uk can unilaterally revoke article 50, that being said if the parliament was to do so that would be politically poisonous and create more problems than resolve. cheryl: michael, we are looking at european markets under pressure today, how critical is the parliamentary vote going to be to markets in particular, we are looking at the ftse which is down about 1% right now. >> in terms of markets it's actually not that important it's probably if you look at the pound as barometer as political

risk, the pound has reboundedded and reboundedded on no deal brexit is much less likely and markets are trading over concerns on slowdown and growth and slowdown in inflation particularly with the bond, the u.s. bond yield starting to invert. lauren: so it's interested we had 800-point plunge yesterday so we didn't give you a -- the best handoff and there's a host of other -- cheryl: we apologize. >> lousy handoff. lauren: sorry about that, thank you for joining us michael and unfortunately we have to leave it there. cheryl: thank you, thank you so much. we send it over to maria bartiromo. maria, good morning. maria: good morning, everyone, thanks for joining us, i'm maria bartiromo, wednesday december 5th, top stories right now before 6:00 a.m. on the east coast markets right now are open, futures indicating a gain this morning of 112 points, s&p

is up 16, 47 points higher on nasdaq so futures trading is going to be closing at 9:30 a.m. this morning, u.s. markets regular session today are closed for the national day of mourning for president george h.w. bush's funeral this morning. however, futures are indicating strength this morning after the sharp selloff yesterday. the major averages yesterday down sharply, sliding better than 3% apiece on the session, nasdaq down almost 4%, concerns over china trade, treasury yield weighing on investors taking 800 points lower on the dow jones industrial average yesterday. nasdaq was down almost 30 points on the session. global markets are open for trading this morning, let's take a look at what's happening there where the european markets are taking a cue from wall street, down 73 points on the ftse 100 this morning, down better than 1%, cac quarante is down almost 1% and dax index in germany 3 quarters of