thank you for being with us. thanks for being with us tonight, good night from new here are your market movers for 5:00 a.m. breaking news this morning. they're reacting to a bold move from president trump. in an effort to win. uber reporting in their first earnings. a billion-dollar loss in three months. democrats had their sights on robert mueller.

a landmark settlement for dads we are going to tell you about the paternity payout. see mac here is how your money is moving at 5:00 a.m. take a look at stock market futures. dow futures are down. two hundred 51 points. all of this ending the ten year treasury.

a sea of red there. carmakers in europe and in asia. you do have wanted green one a green arrow that is there. good morning everyone. the story has changed overnight. he is now threatening to slap tariffs on all mexican imports into this country. the clock is ticking. mexico has ten days to help us stop the flow of illegal immigrants into the united states.

or a 5% tariff goes into effect for all goods coming from mexico into the united states. i'm capable and unwilling to assist us. that tariff will go to 10% on july 1. 15% on august 1. this comes as a border patrol announce a group of a little bit more than a thousand central american migrants. they must step up and help us solve this problem. we cannot allow our laws and to be broken or violated. they have not treated the u.s. fairly. this of course is that the first time that the president

has threatened president has threatened mexico over the border. he talks a closing of the border and shutting down all trade. now even so some of the staunchest supporters are not exactly sure about this. they are separate issues. the democrats on the house homeland security. this is asinine. what this means for the president who is trying to pass a revision. known as the u.s. mca. they came out late thursday afternoon and evening. now we wait friday for reaction.

but also from capitol hill. ladies, back to you. >> thank you very much. a south korean newspaper is claiming that kim jong-il executed for high level of issues with president trump. the top diplomat who was the counterpart. it was sentenced to harp -- hard labor. he has resumed his missile test. >> china well officially raise tariffs on $60 billion in u.s. and god's starting tomorrow. this is in retaliation for that decision to hike duties. the tit for tat continues.

a chinese of vice minister for foreign affairs and calling what the u.s. is jerry naked economic terrorism. they're trying to bully china into a trade deal. he will never given certainly a hardening of tone coming from china. since the trade representative said that they backtracked in on meat's every the's every concession they agreed to. companies are holding back some capital investment to see how the trade dispute plays out. this will eventually work out. >> so far we are see nothing. as a look ahead and think about the things that i'm worried about. it goes into effect on saturday. this is china upping tariffs.

president donald trump said he is prepared to put everything that china imports under a 25% tariff. we have a deal and they broke the deal. i think if they have to do it again they went and do do what they did. china pulled back every concession they had agreed to. it is not willing to go back and start the process over again. the trade war will likely lead to higher prices for consumers here in the u.s. this is something the fed is asking themselves. at the vice chair says they would look at cutting interest rates. they also said that for now

the u.s. economy is in good shape it will remain patients on interest rates. the markets do expect the fed to cut rates at least once in the coming months. i have the battle over stocks today. they reported their first earnings report after going public. i 1 billion-dollar loss. they went public earlier this month. here is what the company said. they blame the loss on competition. their market share as shrinking. price wars are starting to ease and some of the bigger markets. the plans to keep spending to expand the operations. we are more on this is a little but the little but later on in the show. foxbusiness has learned the trump administration is putting the finishing touches

on the to save them from collapse. it could exceed a hundred billion hundred billion dollars. abercrombie and fitch is betting smaller is better is closing some of the flash of stores. it plans to renovate. amid the rise of e-commerce. a big gap coming off of the biggest sales decline in three years. they post results yesterday that did fall short of wall street expectations. it announced it was spinning off of old navy. in this the e-cigarette maker is considering opening its own stores right here in the u.s.

they have come under pressure under the sweet and fruity flavors. they opened stores it would only admit for adults. something hard to police. let's take a look at what's going on. the selling started overnight. the asian markets. japan in particular. it's really going to feel this. the s&p is down 28 and a quarter. we are watching the markets also. a top democrats are looking to bring in robert mueller. they are still asking for him to testify and ready to issue a subpoena if necessary. could this be the political downfall for the democrats. >> great news for online

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>> president trump is going after robert mueller. it just a day after the former special counsel made his first

public comments on his investigation. he said he is done but maybe not. blake burman is at the white house and he has the details for us. the president continued to heavily criticize mueller. the president saying that they didn't get the fbi job so he was conflicted. he also described him as a never trump her. he was not charged with a single thing. president trump drawing a difference between the proceedings surrounded himself and bill clinton. if you look at bill clinton that's very nice gentleman. his special prosecutor. some legalities.

the president also acknowledged that russia tried to make the president the benefactor of the influence campaign in 2016. and now russia has disappeared because i have nothing to do with russia helping me to get elected. russia did not help me get elected. i got me elected. russia did not help at all. they also speak about the mueller statement. in an exclusive interview. >> what was a reaction to what robert mueller said this week. case closed. and he concluded that there was no collusion.

there was no collusion no obstruction. you can catch the rest of the sitdown. we want to bring and the in the washington examiner. he has at least 51 house democrats now calling for impeachment. why does it seem like the former special counsel went out of his way to not absolve president trump. if he is upset with what the attorney general decided. he decided that there was underlying profits even given

a crime was still there to investigate after the presidency. there's not much he can do in this case except lobby congress. i think the american people feel a lot more like mike pence. in more than half of the country still wants to move on from this russia nonsense. in your view he could have reached a conclusion. of the opinions that you can't indict a president while in office but he could've reached a decision as to whether it was criminal activity he have his reasons for not doing it. which he explained.

>> well that compel the former special counsel to testify. >> i think it's interesting that jerry nadler doesn't want him testifying out in the open. he wants him to testify in a closed hearing. i think he knows that despite the fact that it was bad of him to pump the question. is not as though he has really skewed the investigation. it is possible that he gets questioned by congress and points out if he have not been a sitting president and all of this leads aware. impeachment proceedings. but then does that hamstring congress' ability to get anything done. you can't run for a 2020

election. the story will continue. we will major soul of for all of you. present trump said that there will be a new and tariffs. that really has investors unnerved. so coming up our uber investors about to crash. the first earnings came out. the stock is having a surprising reaction this morning. you're watching fbn:am. this is the couple who wanted to get away

who used expedia to book the vacation rental which led to the discovery that sometimes a little down time can lift you right up. expedia. everything you need to go.

it was the first earnings report after that disastrous ipo. they posted a 1 billion-dollar loss. our next guest says don't be a crash dummy. you say there is no way that you would touch the stock now or ever. we warned about this. that it was going to underperform tremendously. i billion dollars a quarter their growth is slowing. and yet is still his trading is trading at a skyhigh valuation.

it's only 15 cents in the premarket. it's really volatile overnight we should say. is going on with the volatility in the stock. i think greater fullness here. they are blaming the losses on the competition. what would really keep me up at night. is amazon. what if amazon gets into ride healing. think about it they had billions of packages to deliver why can't they just use that to deliver packages into people. i think there is much more competition i head for uber. because this is a competitive environment. latin america there actually

hurting down there. we have to offer discounts for passengers for loyalty sake. the reporting methods don't reflect that. they try to obscure the incentives that they are offering. you can't even back in to what the trends are there. i think it's just smoke and mirrors to try to get you to make that point. it is pretty surprising and never broke to the 45 level. at the time about that. it was bad timing for the department. is any chance that if you buy

it cheaper now that may be in five years and might be a worthy investment? that if you buy it cheap now that may be in five years it might be a worthy investment? i think of to get it down to three or four times. and then maybe it's worth a speculative measure. if the cut in half basically. they are rattled this morning. president trump and the tariffs on mexican gods. you can see the damage on the screen this morning. they will be down for the first month all year. down at least 5% on the month. the escalating tariff threat. and all mexican imports.

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let's get you caught up on the market action. we are looking at it to hundred 73-point selloff on the tao. the escalating tariff rets from china. rattling investors and sending them to the safety. it is at a 20 month low. in europe stocks all in the red. the worst of the batch would be the german market. in asia you also had a sea of breath.

the trade war it's itself of the border. the largest ever apprehension of legals illegals by the border officials. brand-new tariffs on mexico. they were glad to really increase those mexico does something good morning to both of you. this is a move like we've never seen. the immigration problem is isn't a decade-long problem. there's no doubt the american people are harmed by this crisis there can be additional taxes on the american people.

just look at china for example. we haven't have a resolution there. always been a big supporter of the president. it would jeopardize that. there are some tricky legal aspects obviously. i don't necessarily agree with the quick answer that he doesn't have the authority to do it only because you have it in terms of national security and the national emergency i think you would be he would be on good footing. it's two different discussions. if you put in tariffs does that hurt the american economy the other discussion is

legally my area. basically this reverts back to nafta rules. congress has not approved u.s. mca is that a correct statement? >> yes that is that particular statute. on the presidential declaration which we have. and the idea that it affects national security. the political side of this. i know this is your wheelhouse. the mexicans have already responded. and it's a pretty harsh language. the u.s. does this it would violate nafta considering that they have 250 billion.

off the charts. this is harsh language. a simple off of the back look. if they go into a full effect come october that we could be looking at an additional tax. $200billion on the american people annually. that is massive. and there is no doubt that mexico well absolutely retaliate in kind. we should have to deal with this. i'm wondering how u.s. automakers are gonna respond. do you think that this ends up if it continues into the course. there is an attraction to global contraction. the point is i'm not convinced

that this is actually get to take place necessarily. investors react swiftly overnight. our future markets sell off. we are watching a cell off right now. great perspective from both of you. so far markets selling off this morning. after president trump happen. we bring an the optimal capital director. good morning to you. the big question is our word. are they as aspirating the risk. >> what i have noticed since basically heat tweeted about

the china trade south. the fact that investors just don't like this. the upswings are a little bit tepid compared to the previous selloff the markets are just trading this a little bit more tepidly. even if the longer term may be this leverage works out. you have to use tariffs to accomplish something on the southern border. if the dow can hold 25,000. 7500 on the nasdaq and 2800 get back above 2800. if those levels start failing i think the momentum goes to

the downside. we return to inflation. even the fact. that a rate cut is not off the table. i and the good of a prophets recession. it's actually gonna put pressure on employment. we do have some economic weakness ahead of us. and as a volatility the volatility could spike the academic weakness. i think it comes from the recession. i think that number was a bit skewed after that q4 number. >> we speak of all of the pockets of uncertainty that are hitting investors.

will there be a deal. how long can we be patient. that is our largest trading partners. i thought volatility was suppressed by the hope of the china deal. never gonna be having a reconciliation point with economic numbers. we will see if it rings true this year. think you have a great weekend. >> here are some other headlines and making news this morning. fedex the latest company to expand the delivery offerings. it will begin offering residential delivery seven days a week. they also recently added

saturday --dash micah saturday deliveries. hundreds of men over paternity leave. they had agreed to pay 5 million to the men who claim that they were not given the same leave as women. amazon is getting into the cellular business the company is looking to buy boost mobile from sprint and t-mobile. amazon would be allowed to use the wireless network for at least six years. also reportedly interested in that. they released hundreds of documents. in the hate crime investigation.

prosecutors told detectives they can no longer prosecute the crime. the automaker has introduced its first hybrid. it has ab eight engine. combined with the electric motors. this makes the speed most powerful. >> they are expected to start deliveries next year. >> the threats on mexican goods down 1.6 percent on the

final day of the week and month. still head. the new trade battle with mexico there getting ready to drop a new tariffs. the gadgets you use every single day. they are hitting some finance -- fantastic shots. we will have some highlights when we return. here you go little guy.

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tomorrow china will slap a new 25% tariff on interest that they're using. two medical devices. it is the first in only company outside of china that can do this rare earth processing and production john blumenthal spoke exclusively to us. >> the materials that we are looking to do. there is no commercial plant in the world what is the opportunity of that. whether it is in volume or dollars. china has a stronghold.

i think one is the opportunity to have the materials are separated in produced outside of china. you're talking to do three years to get into production. >> is it prudent for china to recognize their expert controls. they had grown their economy tremendously over the last 20 or 30 years. a lot of what they have done is they have really looked at it from the bottom up. they had been very smart as far as looking from the supply chain all the way to the

finished electronics. in they devised and built an incredible infrastructure there. a number of companies that china has offered incredible deals for enticed companies to come into china. >> moving those supply chains is gonna take some time and of course china can always restrict experts entirely. >> we are looking at overnight right now futures which are selling off but actually pushing the session loves, we are now down almost 300 points. wall street reacts not in a good way to the threat of these new tariffs. are you okay with that one. we are going to ask the

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>> the nba finals underway last night in a way like before. zero canada.

the toronto raptors changed that. only the second team ever to make the finals five straight years. they set the tone from the get-go. they left ted at halftime. toronto wins game one. not only did they troll stuffed curry by wearing has a toronto dirty -- jersey. he ask about it. it really wasn't a scuffle. because i did hit me -- hit him and he didn't hit me. thirteen days from now the u.s. open this weekend it's a jack nicholas tournament.

and jordan speed is right there. he is one back. >> everybody makes a fuss when the player flips back. she puts on a show. they call it a back flip. i was watching this yesterday. arizona was in there. i love scene girls played sports and just killing it. oklahoma state one. and how about the spelling bee. they couldn't come up with enough things. everybody gets a 50,000-dollar prize.

i'm not terrible. we should have a spelling bee. generally we would say this is it. thank you very much. coming up everybody again and i on the market this morning it is the final day of the month every major index here is down at least 5% of this month. they are selling off today. the chinese market is down 5% this month as well. they worry about the new round of tariffs that trump has now threatened on mexican goods.

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>> family dollar is saying have a drink on me. >> it's friday. >> yes, it is. >> family dollar will start selling alcohol in some stores, they will be expanding the freezers and coolers at 400 stores to start selling more food and also expanding the test of selling things other than a dollar. >> if you think about a cheap beer, i guess cheap beer -- i don't know. college enrollment dropped, is it cost? >> more students are rethinking all of the debt that they are going into, you also have the older students, they are getting

back into the workforce, according to report from national clearing house researching center, they found in the past year college enrollment decreased. california coming in second, michigan. >> we have one more story. lauren: has to do with cries creme. >> cbd infused ice cream, how at that one? legalizing the cbd beverage and food. they are all for this. they committed a public comment because they want to get their own cbd infused ice cream onto

store shelves, they are encouraging fans also submit public comment. lauren: do we know anything about the flavors? >> no word on the flavors but ben and jerry's teasing this on twitter hopefully. >> there's a joke about ben and jerry's ice cream but we have to go. thank you so much. >> dagen mcdowell is in for maria bartiromo this morning. hey, dagen. dagen: hey, ladies, good morning to everyone, i'm dagen mcdowell in for maria bartiromo, top stories at 6:00 a.m. eastern, breaking news in selloff in the making as president trump threatens over immigration on méxico, june the tenth, maria set -- sat down with mike pence of actions being taken to protect the border.

>> president trump is taking desighsive action to call on méxico to get further action to intervene in massive flow of people that are coming north from central america to our border. dagen: vice president pence talked about usmca, canada, méxico trade deal but still waiting for congress to act, he hopes to pass this summer. china trade new round of tariffs on american goods said to go into effect tomorrow. maria's exclusive interview coming up. trade fears hitting those markets, you really saw the selloff pick up stream when president trump announced new tariffs on méxico, 284-point loss at the moment after a bit of rebound. yesterday, dow, and nasdaq all managed to eke out small gains, again, we still are long-term yields below