they might consider what happens as we hook at chuck schumer lining up on the issue of china. lauren: president trump planning to slap new tariffs on beijing if a trade deal is not roofed by next month. so what happened in shanghai? how china is responding and how markets are reacting. cheryl: could be more good news for the trump economy when the july jobs report is release inned a few hours. lauren: president trump is touting the booming economy at a rally in ohio last night and issuing a dire warning about the 2020 democratic contenders and their message of socialism. plus, who made the cut for the next round of debates. cheryl: nothing sparks conversation like being crammed in a small box with people you

don't know. a study reveals the lengths people go to to avoid awkward elevator encounters. it's friday, august 2nd. "fbn: a.m." starts right now. ♪ ♪ this is how we do it. ♪ it's friday night. ♪ and i'll feel all right. ♪ the party's here on the west side. ♪ so i reach for my shorty and i turn it up. ♪ designated driver take the keys to my truck. cheryl: welcome to "fbn: a.m.." good morning. i'm cheryl casone. lauren: happy friday. good morning. ism lauren simonetti. cheryl: let's take a look at how your money is moving this morning. after yesterday's 280 point drop for the dow. we're down 104 in the premarket, nasdaq down 64 and three quarters. lauren: in the bond market, the

10 year treasury is down another 4 basis points, 1.85%. cheryl: after yesterday's nearly 8% plunge on wti, taking a look at oil. we're slightly higher, $54.94. lauren: a lot is moving the asian market, a sea of red. look at the nikkei in japan, it is down more than 2%. the south korean kospi is down 1%. japan has removed south korea from their list of trusted export destinations so that's a different trade story affecting those markets. the shanghai composite down 1 and-a-half percent. cheryl: let's move to europe. red arrows across the board. lauren: more tough talk on china from president trump on trade at that rally in cincinnati, oh, yo ohio last nir he announced plans to slap another 10% tariff on more chinese imports. >> for the last 20 years china's taken hundreds of billions of dollars out of our country and

now we're stopping the theft of american jobs. we're stopping the theft of so many other things happening including intellectual property. they steal our intellectual property. and you know, i think they want to try and make a deal with us but i'm not sure because the word is, i feel, they want to wait until they get -- oh, they're praying. they're praying. they would like to see a new president in a year and-a-half so they could continue to rip off the united states like they've been doing for the last 25 years. and until such time as there is a deal, we will be taxing the hell out of china. that's all there is. [ cheering and applause ] >> if foreign countries don't

want to pay a tariff, i have a simple solution. make your product in america, come on back to the united states, come on back to ohio, there's no tariff. there's no tariff. [ cheering and applause ] cheryl: for more on president trump's new tariff threat against china, we go to edward lawrence. edward, good morning. >> reporter: good morning, cheryl and lauren many. president trump lighting a fire under president xi-jinping for the trade talks. he set a september 1st deadline for the next round of tariffs to be imposed. chinese sources in beijing are saying that departments have been directed to decouple from reliance on the united states, replace what they buy from the u.s. with other sources or make it in china. chinese sources are telling us they refuse to add back in any of the concessions removed from the trade agreement and want the u.s. to trust china that they will n force intellectual property rights. china will not budge on the text

of the agreement and will not change their laws. president trump saying that the tariffs on the next round of $300 billion of chinese imports will start at 10%, hinting they may not stay at 10%. >> i did more than anybody thought with the first $250 billion and the 10% is for a short-term period an then i can do much more or i could do less depending on what happens with respect to a deal. in the meantime, we're going to pay -- they're going to pay a tariff. >> reporter: the president saying china agreed at the g-20 to buy agriculture from the u.s. it has not happened yet. he's frustrated with how slowly china is moving but still saying president xi would like a trade deal in the end. there is another trade deal scheduled here in washington, d.c. in september. we'll have to see if the meeting still happens, and possibly under the next round of tariffs. cheryl: president trump also touting the economy and offering hope for blue collar workers at

his rally last night. lauren: doug luzader joins us from washington. >> reporter: this was a classic trump rally, ran about 90 minutes or so. this is the first big event since robert mueller testified on capitol hill and the president of course had that big democratic debate in detroit to talk about. he kind of lumped those democratic candidates all in together. >> no matter what label they use, they vote for any democrat -- a vote for any democrat in 2020 is a vote for the rise of radical socialism and the destruction of our great, our beautiful, our wonderful american dream. we're not going to let our country ever go down the route of socialism. [ cheering and applause ] >> reporter: we did not hear the controversial center back -- send her back chants loft nightt but he did allowed to the four

democratic congresswoman congred the squad and he also talked about the economy. >> our nation is stronger today than ever before. we have the number one economy on earth. our spirit is strong. our stride is back. and our stand is clear. we are finally putting america first. [ cheering and applause ] >> it's about time. >> reporter: the rally was disrupted by protesters at one point. the president told the crowd that that's what happens when you have a democratic mayor. lauren and cheryl, back to you guys. cheryl: doug, thank you. the health of the u.s. economy is in focus this morning as investors await the july jobs report. investors will be looking for new information that could shed light on what is behind the slowdown in job growth this year. economists are looking for 164,000 jobs, that is down from

june's 224,000. the unemployment rate expected to hold steady, 3.7%. we are going to have complete coverage and analysis of the july jobs report on "mornings with maria." all of that starting at 8:00 a.m. eastern time. lauren: a busy friday in august. we're learning more about the crackdown on big tech. federal reserve conducted an examination of an amazon facility in virginia that runs the databases that hold customer credit scores and social security numbers. the wall street journal said the visit was made in april and around that same time prosecutors allege a hacker in seattle stole capital one data from amazon's cloud storage. the paper says it doesn't appear the fed was aware of the data breach at the time. cheryl: it is anti-trust reviews against big companies continue, the federal trade commission is examining facebook's acquisition as part of the examination. the wall streewall street.faceb0

companies since 2003. lauren: a landmark arms control treaty is now dead. the u.s. walking away today from the intermediate range nuclear forces treaty that president ronald reagan signed, saying russia has been violating the treaty for years. mike pompeo issued a statement saying in part, quote, russia failed to return to full and verified compliance through the he destruction of its noncompliant missile system. russia is solely responsible for the treaty's demise. now, we are expecting secretary pompeo to speak at this hour. we are monitoring that for you. he is in thailand. we will bring it to you as it happens. cheryl: another tragedy to tell you about this morning for the kennedy family. lauren: tracee carrasco has the details. tracee: good morning. robert f kennedy's 22-year-old

granddaughter has been found dead at the family compound in massachusetts. the family put out a statement saying, quote, our hearts are shattered by the loss of our he lebeloved shirshay. her life was filled with promise and love. she is reported to have died from a suspected drug overdose. north korea appeared to fire two more missiles. a short range missile fired into the sea off the eastern coast. this is the third round of we upons tests in just -- weapons tests in just over a week. it's seen as a move to increase pressure on seoul and washington over stalled nuclear talks. thousands of u.s. troops set to withdraw from afgha afghanistan. the pentagon is preparing to withdraw the troops as part of a proposed deal with the taliban. one official warning the move

would be subject to completion of any agreement. so far, no deal has been finalized. the trump administration has undertaken eight rounds of negotiations with the taliban. the next round scheduled to be held later this week. how about this? some free cold brew coffee at starbucks today. starbucks is serving up its nitro cold brew for free at participating locations. you don't need to purchase anything to get the 3.5-ounce cup. it's a little cup. the move is an attempt to get customers to try it and that is what is happening now. cheryl: the pumpkin spice latte is coming back i think as well, right, tracee. tracee: i heard that. isn't it still summer? cheryl: i think it's a little soon. tracee: too soon. lauren: i know the answer to this. it's coming back, sort of. cheryl: all right. lauren: okay. cheryl: cool. we will stand by. lauren: coming back to the grocery store. cheryl: taking a look at futures as we get ready for the jobs report for the month of july.

dow is down 96, s&p is down 14 and a quarter, nasdaq is down 60. still ahead, trade tensions on the rise and there's questions surrounding the timing of president trump's new tariff announcement on china. what does this mean for the road ahead for negotiation? and we're going to tell you about the world's first bar that's got artificial intelligence to sling your drinks. it is friday and you're watching "fbn: a.m." ♪ i'm a robot. ♪ i'm a robot. ♪ i don't have anything feeling in my heart. ♪ i have a wife a and -- vestmen. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. you need decision tech. a cockroach can survive submergede guy. underwater for 30 minutes. wow. yeah, wow.

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lauren: after failed trade talks in shanghai, president trump says he will impose a 10% tariff on september 1st on the remaining $300 billion of chinese imports. that is really spooking the market. take a look at futures. the dow is now down 111 points, the nasdaq is down 68. secretary of state mike pompeo defending the president's tariff decision. >> for decades china has taken advantage of trade, taken advantage of trade versus the united states, taken advantage of trade versus countries in asia, southeast asia. it's time for that to stop. president trump has said we're going to fix it. and to fix it requires determination. lauren: tori whiting is a trade economist at the heritage foundation. secretary pompeo calls it

determination. would you agree with the strategy of the administration. >> absolutely not. we've seen time and time again that tariffs are not working in order to get change in china. even ustr came out with a follow-up report and said after a year and-a-half there's been no change in china. this strategy isn't working. it's time to turn back to the things that we know improve economic growth in america, that's lower taxes, lower regulation and free trade. lauren: what will work exactly, though, when you're dealing with a nation, tori, who has walked back everything that they promised, even the purchase of more u.s. agriculture? they agreed to that at th the g. it hasn't happened. >> trade is about individuals, not governments. people trade with one another, not the u.s. and china. we need to see that -- yes, china doesn't always follow the rules and there are specific ways to address that. the first is the treasury department could sanction individuals and companies that steal u.s. intellectual property. we need to use the wto more.

and using the tools we already have in our tool belt and not tariffs and taxes on the american people. lauren: let's pick up on the tariffs and taxes on the american people because september, back-to-school, this is an $81 billion industry and if you're going out and buying school supplies, sneakers for your children, you're going to spend more money. what is the impact of this on the consumer? >> that's absolutely correct. and while some people are saying the 10% extra taxis small compared to the 25% that was threatened, those people are completely out of touch with the lives of the average american. 10% is huge, even if only half of that cost gets passed on to consumers, you're looking at a 5% increase in the sales tax. that's double sales tax in most states. lauren: 10% is likely just the starting point. do you expect beijing to retaliate? how and when? >> i wouldn't be surprised if they retaliate in kind on september 1s. thi first.this is a shot acrossw

against china. we thought the talks were going in the right direction, but not so much, it seems. lauren: we might be waiting it out until 2020. tori, thank you very much. have a great weekend. cheryl: china's foreign minister overnight saying they might have to retaliate. oil prices were hitting a four year low yesterday after the tariff announcement. the president tweeted the tariffs will start on september 1st on the he remaining $300 billion of goods and products coming from china into our country, not including the $250 billion already tariffed at 25%. let's bring in mike flynn. you saw the hit on oil prices. there's new reports overnight that there is maybe 1 12 to 14 million of iranian oil sitting in chinese ports. that could also disrupt trade negotiations. what do you make of this? >> iran, they're storing oil in

china and china is not officially breaking the sanctions because they haven't officially taken delivery. the ownership of the oil still in the iranian hands so they're not breaking sanctions. at the same time, there's a possibility that china could sneak that oil in. the trump administration's watching it he very closely. cheryl: what can we do, though? if we go back to the table on september 1st, this just takes us further apart. >> we can put more sanctions on iran, more sanctions on china. and china, believe it or not, has not been importing iranian oil to a large degree. they've really cut back. i think they may use this oil as a threat against the u.s. especially as these trade tariffs get hotter. cheryl: as we're in the middle of the tariff trade fight, we're watching oil plunging, we'll be hearing from exxon and chevron today. what is the health of these companies right now and how much do you think domestic production will play in the earnings reports today? >> i think it's going to be big.

from the reports we're getting about domestic production, it's disappointing. not necessarily on the actual barrels of oil but the amount of money it takes to produce those barrels. so i think some of the big oil companies have been struggling with the drop in price. i think exxon might be able to beat the street today. but the rest of the sector's been under a lot of pressure, especially shale. shale's having a hard time meeting expectations of investors because their costs keep going up. cheryl: if we have more problems with iran in the strait of hormuz, they're holding the british tanker. what does that do to oil prices. >> i think it could add $5 a barrel to oil if there's an extended conflict. i know everybody's saying hey, we haven't seen that much of a reaction. the reality is, there is an extreme risk premium in the oil, at least a couple of dollars right now. that could easily double if we see a disruption. cheryl: we have to watch the news over the weekend for all of this as it develops. fill flynn, thank you for

getting -- phil flynn, thank you for getting up early. lauren: we have the jobs report coming out, we have a yield that is at 1.85% on the 10 year and the dow jones is down 94 points. we're looking at a selloff, four days of losss in a row now. still ahead, keeping up with the joneses, how that message taking hold of the american middle class and causing them some pretty serious headaches. and millennials being blamed once again, why one company says -- you haven't heard this one yet -- their hair is to blame for their money problems. keep it here on "fbn: a.m.." ♪ clean your act up. ♪ don't be a slob. ♪ get it together like your big brother, bob. ♪ why don't you get a haircut and get a real job. who's dog is this? it's my special friend, antonio.

his luxurious fur calms my nerves when i'm worried about moving into our new apartment. why don't we just ask geico for help with renters insurance? i didn't know geico helps with renters insurance. yeah, and we could save a bunch too. antonio! fetch computer! antonio? i'll get it. get to know geico and see how much you could save on renters insurance. we all feel, we all love, we all cry. it's part of being human. sonoma county declared a homeless emergency in 2018. you have to know the individuals you're serving to understand their needs. working with ibm watson we can bring together data spread across dozens of departments. that gives us a fuller view of the people we serve. dear tech, dear tech, we need to look after everyone in our community. and we want to help our fellow human beings. ♪ ♪

♪ go and cut your hair. ♪ do you think it's going to make him change? cheryl: procter & gamble took an $8 billion write-down in their recent p earnings release and they're blaming it on millennial men who are not shaving as much. beards are becoming more and more trendy with that generation. the overall shaving product market in the u.s. has dropped 11% in the last five years. lauren: okay. from hair to the health of the overall economy, in just a few hours now the government will release the july jobs report. will it be another win for the economy or reason to think more rate cuts might be warranted? let's bring in mitch rochell. mitch, good to see you. good morning. what are you expecting from the jobs report? >> i shaved, just for the record. lauren: i'm so glad you did. >> i think the jobs report is going to be surprisingly good. the estimate is about 164,000 which is the average job creation headline number for the entire recovery.

i think we may come in ahead of that. i like to be a half full guy. we look at the other signals, everything else about the economy seems to be firing on nearly every slender. cylinder. if you look at reday retail, lot leisure, hospitality, obviously the consumer is very strong. lauren: what about wages? >> i think wages will come in at that 3.1% number. lauren: annually. >> annualized which is twice the rate of inflation, so that's a good thing. i don't see that that's going up. one would suspect that it should go up, given how tight the labor market is. we've been hanging at the 3, 1, 3, 2 level. lauren: that's a democratic talking about. we heard that in the debates that there's a middle class squeeze going on. if you look at how much debt the middle class is holding, minus mortgage debt, $4 trillion. how do you jive what's going on in the real economy with the middle class struggling? >> if you look at just the basic

economics of it, so wages have gone up and incomes have gone up but not as fast as home prices, the cost of tuition. so all of those costs are escalating at multiples. the housing prices were going up 6, 7% a year. lauren: they're at record highs right now. >> even if wages were going up at 3%, that's not going to catch you up. the middle class is getting squeezed. what's left out of the equation is the benefits from tax reform. the benefits are there. it flushes out over time. if you look at the debt that's been amassed as a percentage of gdp, and i think that's a relevant measure because gdp is consumer-driven, that number doesn't look so bad. so i think there is a little bit of a middle class squeeze going on, no question. if you look at it broader for the economy, i don't think that numbers is so alarming. lauren: do tariffs exacerbate the middle class squeeze? >> i think tariffs become inflationary. and if we see inflation, that could change the entire dynamic. that could change the interest

rate environment. notwithstanding the tariffs, what happened in the bond market, selling off right now. so it will be interesting. one thing about the jobs number sort of going back to where we started, i think it's going to be a little bit of a canary in a coal mine. jay powell this week lowered rates and the jobs number is going to be proof in the pudding as to whether or not we need to have continued monetary stimulus from the fed. so we'll see. lauren: if it's a strong report --- >> if it's a strong report, maybe the market could say we won't get any more cuts. lauren: but yet we have the trade war with china. >> that's another fly in the ointment. lauren: we'll get through this together. cheryl: a new theme park is coming to florida. universal says the fourth park, epic universe, will forever redefine theme park entertainment. the describe it as the most i'm heimmerseimmerse i've and innove

park. they say i they will hire 14,000 team members. it has sparked some excitement but the account has not released specifics regarding the attractions or a potential opening date. but theme parks have done well for disney. looks like comcast figured that out. lauren: small selloff this morning. tough week for stocks, dow features down 82, s&p down 12, nasdaq down 53. exxon and chevron report today. still ahead, time running out, only four weeks to qualify for the next round of democratic debates. which candidates can prove they have what it takes? we'll tell you about why one city is on the attack against many new favorite place, drive-throughs. they're helpful with children. ♪ take a look at my girlfriend. ♪ she's the only one i've got. ♪ not much of a girlfriend. ♪ never seem to get along.

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cheryl: the heat is on. democratic candidates have just four weeks to qualify for the next round of debates for september. right now, only seven candidates are making the cut. to qualify, a candidate needs to score at least 2% th 2% in four national polls and raise money from 130,000 unique donors. president trump rallied supporters in cincinnati and while the crowd seemed energized, president obama's chief of staff, rahm emanuel is saying what he thinks is the key to the president's success. >> they are not happy with donald trump but they are not sold on us yet. they have decided about donald trump. they are undecided about us. we need to make them comfortable doing that. >> they don't like donald trump but they may elect donald trump's economy. >> i wrote in the same memo, they think the economy is okay, not bad. they think donald trump is worse

than bad. that's the sweet spot. that's where the gold is, in pennsylvania to minnesota. cheryl: we're joined now by anders hacksrom. the democrats really need to get trump on the economy. how can they and where does the federal reserve rate cut play into that. >> it has a lot to do with what rahm emanuel was saying. he was right in saying that most americans have already made their decision about president trump. i don't think he's right in saying that every american has decided against him. like if you look at trump's polling since even 2016, he's hovered between like 44, 42 and 48%. and i think trump's ability to win in 2020 rests on two things and that's his ability to sell the idea that the economy is doing well because of him and sell the radicalism of the democratic party. cheryl: i need to push back. the federal reserve did cut interest rates by a quarter

point this week. they're worried about u.s.-china trade which actually sunk the stock market yesterday. that is a dangerous game that the president could be playing and he could be playing into the hands of democrats. >> oh, absolutely it could. again, this goes back to his ability to sell the economy is doing well because of him. if he's increasing these tariffs, the tariffs have proven very unpopular among farmers especially in the midwest and in pennsylvania and places like that and if he continues to do this to escalate this war with china, this seems remarkably unpopular among the very people he needs to sell to, it could come to hurt him in 2020. cheryl: here we are talking about the debt ceiling which has been raised, national debt at all-time highs but then you've got bill de blasio comes out with a tax plan after on the debate stage he said he wanted to tax the hell out of the wealthy, now this new tax plan, it's something else. i've got to go through some of it with you. a wealth tax, hit the higher individual tax rates, put those

higher, also he wants to in addition to the salt deduction which hit many many blue states, tax more on corporations. individuals, corporations in his plan. is this where the democrats are going to go is tax and spend? that's not going to work. >> yeah, i mean, it's pretty obvious it's where almost every single democrat is going and de blasio is going further and further because he knows his campaign is basically in the dregs right now and he has no chance of winning. he's doubling down, trying to be more radical, trying to get attention i think it's emblem attiit's a seen ofhow far the d. cheryl: it's all about medicare for all and free everything and now tax the wealthy. we shall see, which is elizabeth warren, who will be on the stage, looking forward to september. anders, thank you very much. >> thanks for having me. cheryl: you can catch the rest of the interview with rahm emanuel, tonight at 9:30 p.m. eastern time on fox business. lauren: google is under fire

once again for being accused of bias against conservatives. a google engineer fired last year for his conservative views is hitting back. he tells the wall street journal, quote, there's been a lot of bullying. he received a warning from google in 2015 after several posts on the company's internal messaging boards. they were criticized as being disrespectful. he was black listed inside the company. he spent the next three years he says battling google, claiming that right-leaning employees, because there's not a lot of them, were being treated unfairly. cheryl: well, drive-throughs have become a way of life for many fast food customers. they may no longer be welcome in one midwest city. minneapolis city council committee passed a ban on any new drive-through. it heads to a full council vote, the move backed by the council president, said it will cut down on vehicle noise, idling and traffic. lauren: artificial intelligence is taking over the pub.

for the first time ever, artificial intelligence will run a bar. the first one is in london. it will use cameras and facial recognition software to sort customers into virtual lines that will make sure drinkers get their cocktails based on when they arrive, not who is the pushiest to the bar. and they will scan customer faces to make sure they're old enough to drink. real humans will card anyone who looks too young to drink. i think they need to have computers do match making in the bar as well. cheryl: how polite of the british to think such a thing. we have another selloff on our hands. we are going to get the jobs report before the market opens. that report could change everything. right now, the dow is down 77, s&p down 11 and three quarters, nasdaq down 53. coming up, jaws dropping online over ford's new f-150 prototype. we're going to talk to the brains behind the new truck and when you can expect to get your hands on one. and we told you about french's mustard ice cream.

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lauren: america's best selling truck is going electric and bringing some massive power with it. ford showing off its electric

f-15. f-150. it's towing 10 double decker railcars with 150s on board. the brains behind the electric powerhouse and the entire f-150 line is the chief engineer, linda zang. she joins us from dearborn, michigan. thanks for joining us. >> nice to be here. lauren: we're happy to have you. we're showing video of the power. how do you convince someone who loves to drive a truck that an all-electric version is going to have power. >> that's what we're trying to do with the extreme demonstration, is to show our customers that we're able to deliver power with this vehicle, that instant torque from electric motors along with our lightweight f-1150 all aluminum body provides the torque and power for the vehicle and allows us in this demonstration to tow

well over 1 million pounds. lauren: i know the hybrid version is coming out next year. what about the all-electric version? >> the hybrid will be available next year in 2020 and the all-electric will be available in a few years after. lauren: i can't help but notice, linda, you are a woman and you are designing america's best selling truck. is that a question that you get a lot? and how much of your consumer is also female? >> yeah, i don't actually get that a lot. i view myself as just a chief engineer and i'm here to do the job. for f-15 150 we're making sure e provide the best product for our customers to best meet their needs, whether capability, durability or productivity, to make sure we're meeting their needs and giving them what they expect. lauren: is that customer increasingly female. we're running stories that the minivan is dying because more soccer moms, in quotes, are buying trucks. are they buying the f-150.

>> we have a great base of customers and i have a lot of friends that are f-150 drivers that are female and they love being able to be in a pickup truck, that power, that stance, that ability to do all of the things that any of our customers would be able to use it for in terms of productivity and capability and it just provides so many features also along with the vehicles. cheryl:.lauren: i know ford isg big investments in electric, big investments in autonomy. when will we see an all-electric autonomous f-150. >> we're still working on that. we're very much committed to both of those. for electric, we're investing $11.5 billion to electrify some of our most iconic vehicles, f-150 included. i'm working to make sure we bring this to market with the best power and capability for our customers.

lauren: linda, thank you for coming on. >> thank you. cheryl: taking a look at markets this friday, ahead of the big jobs report coming out 8:30 a.m. eastern time. we have red arrows. that could change, dow down 76, s&p down 11 and a quarter, nasdaq down 51 and-a-half. coming up, we love using air drops on our phones. here's a warning for us, for everybody. how the air drop feature could be putting you at risk to hackers. lauren: great. cheryl: yeah, i know. and let's end se sibling rivalr, how one girl decided to prove she is the top dog once and for all. if you've got siblings, you're going to love it. you're watching "fbn: a.m." ♪ one way or another i'm going to find you. ♪ i'm going to get you, i'm going to get you, get you termites, feasting on homes 24/7.

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lauren: a very popular apple feature is now at risk for being hacked. apple's air drop let's you send videos or pictures wirelessly. it can expose your telephone number to hackers if they hack into the signal you're using. a researcher was able to grab details when he was in a bar in just a minute. for now, it does appear the only way to prevent this is to disable your bluetooth when out in public. cheryl: which no one is going to do at all. let's get caught up on global market action. we're watching futures. we have red arrows, dow down 84, s&p down 12 and a quarter, nasdaq down 55. over in asia, u.s.-china trade talks really kind of a stall in the tariff threat from the president, that is red across the board as you can see in asia. now to europe, taking a look at what's happening there. you've got major selloff happening, all three indices,

the ftse is down almost 2%, cac down 2.7%, dax down 2.5%. you've got a new warning from bank of england's governor, that a messy brexit would pressure the global economy. as boris johnson's conservative party lost a crucial election. let's bring in russ mold, investment director. there's a rough day going on over there. i'm curious if you think mark carney is right about this warning. >> reporter: it's been the bank of england's consistent position since 2016 that a hard or no deal brexit would be bad for the british economy. generally, the bank of england is cautious over brakes its fult or without a deal. mr. carney has consistently said it would be an immediate shot to the the u.k. economy. the bank cut the gdp forecast yesterday before brexit. it remains the bank's key concern, why it's not putting the rates up. cheryl: it's a big concern for everyone. the eu may announce today it's

importing more u.s. beef. is this a positive, do you think? >> reporter: i think for american farmers it would be an enormous positive. in terms of eu, u.s. trade relations, it would be a good thing. tensions exist over cars and several industries, you're seeing that in german economic data. any yo youany thawing of relati. cheryl: thanks to much for being here. rough day. thank you, russ. lauren: president trump is getting ready to sign a two year budget deal. cheryl: tracee carrasco has the story. >> reporter: th.tracee: the ag, raising spending by $320 billion and lifting the debt ceiling for two years, pushing the next battle to after the 2020 election. president trump is expected to sign the bill later today. puerto rico's governor stepping down today with no replacement

ready to take the open slot. ricardo rossello is leaving office today, following massive protests over accusations of corruption, mismanagement of funds and the release of offensive chats. governor rossello nominated pedro perilusi to take over. the vote was delayed yesterday. we told you about mustard ice cream yesterday. today, it's a hot dog flavored frozen treat. oscar mier created what they're calling an ice dog sandwich featuring, you guessed it, hot dog flavored ice cream. the ice cream, which contains real bits of candy's oscar mayer hot dogs, spicey mustard jellato and cookie bun will be served later this month in new york city. if you can't make it to new york city, you can direct message oscar mayer on twitter for a chance to try the ice dog.

now, the champion of the ba bate beam, take a look at this, a young girl manages to knock her little sister off the beam into the foam pit. that wasn't enough. there can only be one person remaining standing, knocks her baby brother off. this post attracted over 100,000 views. cheryl: she's the middle child. she's the middle child, right? tracee: she wants more attention. cheryl: score one for the middle child. lauren: just so everyone knows, those blocks are very soft. cheryl: it looks a little scary. lauren: go middle child. tracee, thank you. coming up, the lengths we go to avoid small talk in small places. why you shouldn't engage when you're in an elevator. and scientists may have found a way to make getting hot and sweaty a little less gross. ♪ people in the party. ♪ hot, hot, hot.

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lauren: is that possible? >> here is the deal whether you're at the gym or 100-degree day in new york city, people stink especially when they sweat, scientists have come up with a new fabric, it's called smart fabrics, when you sweat it's supposed to make you smell that much better, scientific compound thing to it. listen, if anything can make you smell you feel better, i'm all for it, right? cheryl: especially your gym clothes. lauren: i love it, i love the next story too. talking in an elevator. >> anybody who is going to work right now, don't do it, nobody wants it. 66% of people, by the way, 7 billion daily elevators rides every day, 7 billion elevators

rides, 66% of the people don't want small talk, no chitchat, none of the above. awkwardness and they also said, they also said that one in 5 will actively avoid going in an elevator with someone they don't want to be in. >> but also the claustrophobic thing. >> a little bit of pushback, if you're in an elevator with people you know, respect you rude if you don't address them? >> i think so. maybe -- i think you to acknowledge them but don't go into the actual conversation, but how great is that that 1 in 5 actively avoid, we have been there, i have text message. cheryl: recently i was stuck in an elevator, 2 weeks ago, freaked me out, i've become that

person, that's too crowded in case i get stuck between floors again. >> you don't want to be stuck with people. especially people you don't want to talk to. [laughter] lauren: they don't want to talk. thank you. >> awesome. cheryl: that's it for fbn:am, over to mornings with maria, job's friday. maria: sure is, big show ahead, good morning, everyone, happy friday, friday august 2nd, top stories before 6:00 a.m. on the east coast, president trump threatens to impose 10% tariff on chinese goods, the move can affect prices, smartphones, clothing toys, now china is vowing retaliation, markets are lower, futures extending, pressure on the market this morning, markets are turning sharply lower as soon as the president tweeted the tariff threat yesterday ending down in triple digits yesterday, global

markets took dprui the -- cue from the u.s., cac quarante down 155 and dax in germany 300 points right now. plus jobs in america, investors waiting on july's report today, economists are expecting 164,000 jobs one employment rate holding steady at 3.7%, 8:00 a.m. eastern, mornings with maria begins right now. ♪ ♪