tv FBN AM FOX Business August 28, 2019 5:00am-6:00am EDT
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toensing and joe difficult convenien -- digenova cheryl: it is 5:00 a.m. here are your top stories. pushing back on the pushback, the white house again taking issue with claims coming from china. is the president's credibility an obstacle in getting a trade deal on the table? markets in flux as beijing denied a phone call between the two countries ever took place. lauren: a state of emergency as tropical storm dorian is on the move, flooding turning roads into rivers in the caribbean as puerto rico is bracing for impact today. could florida be next? cheryl: and today is the deadline for democratic candidates to qualify for the next debate as joe biden's campaign hits back against criticism of recent gaffes. who they say is at fault.
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lauren: technology makes keeping up with work while out of the office easier but americans aren't having it. the big lies we tell to keep our bosses from creeping in on our vacations p. it is wednesday, august 28th. "fbn: a.m." starts right now. ♪ ♪ it's all right, all right, girl. ♪ one day you'll see. ♪ you'll never find a guy like me. ♪ lauren: welcome to "fbn: a.m.." good morning. i'm lauren simonetti. cheryl: good morning, i'm cheryl casone. lauren: let's take a look at how your money is moving this morning. u.s. futures hugging the flat line, slightly higher if you're looking at the dow, up 18 points, s&p up 4, nasdaq up 5. cheryl: watching the 10 year. the spread between the two and
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the 10 year yields inverted, kind of the worst numbers we've seen since 2007. the bond market signaling there could be a recession coming. right now, the yield on the 10 year is 1.48%, a gain of 8 basis points. so a little bit of a better sign this morning on that. lauren: futures are up. major move continues to the upside in the price of wti. crude is u 1.5%. cheryl: somewhat muted session of trading in asia despite losses in this country. the nikkei and kospi barely a report the queen could be asked to suspend suspendment. suspendmensuspendparliament. cheryl: the white house is fighting back against charges that president trump is driving chinese officials away from trade negotiations. reports say that the chinese are confused by conflicting comments
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the president has made about whether he even wants a deal. lauren: but kel kellyanne conwy says the president is intent on a lasting deal. >> the president doesn't mind waiting if it's a better deal for america. other presidents didn't even bother to make any deal. this president came to this city to disrupt it and part of that is to have bilateral trade agreements that no longer screw the american worker and american employers but to make it better. these things take time. lauren: she added robert lighthizer and steven mnuchin recently traveled to china to meet with top officials there. for that part of the story, here's edward lawrence. >> reporter: the chinese supply 80% of the rare earth minerals right now. your cell phones to new radios to ipads. it could have an immediate impact so the u.s. wants to find
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other sources. we're looking for another high level phone conversation between the heads of the two trade teams. this will organize a face-to-face meeting in washington this month. the calls have been at the center of the debate this weekend. it's important to lay out the time line of the communication. the chinese vice premier and u.s. trade representatives spoke on august 13th. the deputy level talks happened last wednesday. over the weekend the president claims there were several calls. a spokesman for the chinese foreign ministry said they're not aware of the calls, adding additional tariffs is not constructive and serves no one's interest. president trump praised the relationship he has with president xi. he said when they last spoke, he said president xi was the enemy of the the us. this has markets doing whip lash over the last week. >> we've done tax reform and we've done regulatory reform. let's keep the economy moving and growing. let's not jeopardize it by
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imposing additional tariffs. >> reporter: he would like the president to stop the tariff campaign. the administration saying that's the only thing that brought china to the table. back to you. cheryl: new concerns this morning to tell you about north korea. there are satellite images taken of a north korean shipyard that suggests the company could be building a submarine capable of launching a nuclear missile. the photos show vessels and cranes that could be used to haul a vessel out to sea for a launch. this could improve the regime's ability to conduct long distance attacks. lauren: president trump is attacking the federal reserve once again. this time, he's blaming the central bank for one of his key campaign issues and a recent slowdown that we are seeing in the manufacturing sector. this is what the president tweeted. the federal reserve loves watching our manufacturers struggle with exports to the benefit of other parts of the world. our fed has been calling it wrong for too long. well, the manufacturing sector has been one of the hardest hit sectors from the u.s. trade war with china.
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thefrom a former federal reserve policy maker, bill dudley, and in an op ed he wrote for bloomburg, deny president trump the interest rate cuts he has demanded. cheryl: one day after a judge ruled against johnson & johnson in a landmark opioid addiction case, purdue pharma reportedly is in talks t to settle. sources say they're negotiating with state and local governments to resolve the cases in a deal that could be valued of open 10d $12 billion. the first federal opioid trial is set to start in cleveland, ohio in about two months. lauren: phillip morris and altria facing falling demand for tobacco and they're now in merger talks. both companies closed down sharply yesterday. phillip morris shares sinking just about 8%. cheryl: we get more on the
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potential deal from our kristina partsinevolos. >> the split up back in 2008. this could be called a potential remerger. why would they be looking to join forces again? altria has a 35% stake in juul. they bought a swiss company that makes nicotine pouches. phillip morris has a product called the iqos device. it doesn't burn tobacco. it heats it so it doesn't create smoke or vapor. it's a a way for the companies to join for possibly help the fact that they've been losing sales in cigarettes and tobacco related products. phillip morris will potentially get 59% of the combined company. if you look at their stocks year-to-date, phillip morris has been doing a little better than altria. some believe it would weigh negatively on phillip morris. you have regulatory risk that is hurting a lot of e-cigarette
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companies like juul. it could hurt the combined company since altria has a stake it in. this could take a long time as it still needs to get the green light from regulatory officials. back to you guys. lauren: kristina partsinevolos, thank you very much. meanwhile, 16 women have come forward with accusations against jeffrey epstein. the alleged victims sharing their stories in open court yesterday after epstein's suicide deprived them of a chance to get real justice. >> i want to thank the judge for letting us speak. >> all i'm going to say is today is a day of power and strength. lauren: this, as the judge considers dropping epstein's latest sex trafficking charges due to his death. we'll have more on this fight later in the show. cheryl: despite the united
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states black listing companies still want to sell to huawei. lauren: tracee carrasco picks it up from here. tracee: reuters reports the u.s. commerce department got more than 130 applications from companies looking to sell to huawei. this comes a couple months after president trump said some sales would be allowed. as of now, no licenses for sales have been granted. deutsche bank says it has copies of trump related tax documents. in april, the house intelligence and financial services committees subpoenaed the bank for documents and financial records. the bank was the president's primary lender for decades. president trump continues to try to block the release of his tax returns. plans to add student adversity scores to the sat has been dropped. there has been widespread criticism. they say they will try a new tactic called landscape where they will take into
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consideration similar information but not combine it into a single score. we have liftoff, spacex's star hopper successfully launched about 500 t feet off the ground and then gently touched down. this followed a glitch a day earlier that caused the test to be aborted seconds before launch. the star hopper lawn of is one of many tests designed to eventually send people to mars and to the moon. and that is what's happening now. cheryl: do we know if all the windows shattered. tracee: very good question. i have not seen many reports of issues but i'll keep looking. cheryl: people were saying they would be flipped out by vibrations at their houses. cool video, though. lauren: let's take a look at the action on wall street this morning. dare i say, we have a relatively flat market. s&p up a quarter of 1%, nasdaq up a fifth of 1% and the dow went from hugging the flat line to up 47 points this morning. coming up, leading economic indicator hitting its highest
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level in 19 years. could that mean that consumers will keep recession away? and popeye's and kfc scoring big with their newest chicken products but why the companies having to crow about this morning. keep it here on "fbn: a.m.." ♪ we can walk together. ♪ 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.
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lauren: costco's popularity in the u.s. apparently has nothing on china. massive crowds forced the company's first store in china to shut down early on opening day. costco told members in china in a text, please don't come. it got so bad that police had to be called in to handle the flood of shoppers and to control the traffic. the parking lot was so full, there was a three hour wait. well, costco shares reacted to this, rallied more than 35%. that's on the year. cheryl: let's talk about the consumer. americans' optimism about the economy hitting a 19 year high. we have been talking about the inverted yield curve. our next guest says anybody that is warning of a recession is not looking at the consumer. michael lee is here. the confidence number is a 19-year high. the long-term numbers are
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positive. the short-term, there's a little bit of a nervousness we see in the data based on the trade conflicts with china. what do you make of the numbers? >> so, nothing about any sort of consumer data is hinting on any sort of recession. 70% of the economy -- that's 70% of the economy. hidden in the data is the expectations that you can find a job, job prospects hit an all-time high since they've been running it and last week the consumer board, their index of leading economic indicators also hit an all-time high. usually when that peaks we're 20 to 24 months out from a recession. we don't know if that's peaked yet. the only thing that says there's a pending recession is the bond market. cheryl: you mentioned the job market. jobs plentiful, that number rows to 51.2% from 45.6%. that's a pretty good jump.
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if we're working, we're spending money. can we talk ourselves into a recession? >> you know, i don't see how it could happen. what's also a amazing is we're getting consumer data, previously not thought possible as to how good it is right now, with an 8% savings rate. that's more than double what the savings rate, which is typically a leakage and a drain on the economy, we'll more than double what we were going into the crisis and then what's often talked about is consumer debt. if you look at the cost to service that debt as a percentage of take-home pay, that's the lowest level in 30 years. if you look at consumer debt compared to consumer assets, also the lowest level in 30 years. we need meaningful he deterioration before any sort of recession should be discussed. cheryl: documents show pretty heavy losses for peloton. they're not forecasting they will ever make money. the bikes, if our viewers don't know, it's a bike you connect to
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class and instructors, he they'2 a $500. they're the first in the space to do this. yet no cash is coming in. i don't understand what's going on. >> they've had trouble with music and getting licensing rights. that cost them a little bit more. this is a subscription model. if you have a peleton bike, you pay $40 a month. what will you do when they change the 40 to 50 or 60. you're going to keep paying because you're stuck with it. having that subscription model i think separates it from a lot of the other unicorn ipo that's come out and don't make money, a lot of smart investors behind it, i think this will be a good company. cheryl: goldman sachs, jp morgan running the ipo, i'm sure they're seeing something. it will be an spiting ipo no matter what. lauren: president trump declaring a state of emergency as tropical storm dorian heads towards puerto rico today. adam klotz is here with the
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latest. adam this could approach florida for labor day week gleaned this. >> this is trending in the wrong direction, especially for mainland flmainland florida. it will make landfall with puerto rico later today, then targeting florida. there's a lot of indecision with this. we talked about the cone of probability, indecision of where the storm will track. that's a very large cone. it covers all the way from miami up to georgia. so there's plenty of indecision, plenty of time to see where this is going to go but it is currently trending in the wrong direction. it is going to be making contact with puerto rico probably in the next 12 hours or so, this is just that very outer bands of rain beginning to fall across portions of the island. the real heavy stuff is yet on the way. wind gusts haven't begun to pick up too much. we're going to continue to track this rain as it drags this way over the next 12 hours or so. rain could be a big part of this. this is our future radar, beginning to see some of the
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heavy showers fall, maybe even making landfall by 4:00 p.m. this afternoon and then depending on where exactly the heart of this goes, winds 60 to 70 miles per hour, rains possibly getting up to as much as 10 to 12 inches and this an area where the elevation is kind of hard. there could be flooding on the island. we've got several days after this but maybe by the end of the labor day weekend we'll be talking about a landfall in florida. lauren: adam, keep us posted. thank you very. cheryl: we'll keep you posted on your money. we've got green arrows right now. dow is up 39, s&p up 6 and-a-half, nasdaq up 11 and a quarter. now 12 points. still ahead, a lawsuit tar getting eight vaping companies. we've got the fallout many coming up on this story. and technology can certainly make your life a little easier when it works. but is it working too well? there's a growing number of people that are getting pretty annoyed with their car and othr
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lauren: lori loughlin an her husband were back in court for a hearing on the college admissions scandal. molly line was at the courthouse in boston where everything went down and she has the latest. >> reporter: lori loughlin and her husband presented a united front as they entered federal court in boston, holding hands and sitting side-by-side before the judge. there were concerns raised by prosecutors concerning conflict of interest. they each retained separate counsel. seemingly of greatest concern,
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lawyers were hired by a law firm that also defend other parents in the case. prosecutors warned the client could testify against jianoli or others. others. they stand accused of paying the ring leader of the scheme some $500,000 to bribe coaches and administrators and create phony athletic profiles to get their daughters into ufc as recruited members of the yo cree crew teah neither teen were part of the team. they face up to 40 years behind bars if convicted on the two conspiracy counts they face. cheryl: north carolina is going after electronic cigarette companies. the state attorney general, josh
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stein, filed lawsuits against eight companies for allegedly targeting children with their marketing, one day after johnson & johnson was found partly responsible for the opioid crisis in oklahoma, that also revolved around marketing. let's bring in brian ratel to talk about all of this. the similarities are interesting. e-cigarettes, children, marketing, is there a legal case to be made? >> good morning, cheryl. and more than the similarities over the opioid case, i think what the best analogy here is the big tobacco from the 1990s and what's missing here is we've got a lot about vaping devices, what we don't have is anyone that i've heard of blowing a whistle against the vaping companies. you remember the movie from the late '90s, the insider, jeffrey wigand, that was a high level person at brown and williamson who said we knew that cigarettes were bad for people, we were in the business of
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delivering that. i haven't heard anything with regard to vaping. cheryl: we have seen injuries with regard to children. and there's a google employee, a former engineer, he's now accused of stealing information from google, giving it to uber. how difficult are these cases to prove? >> well, they are hard to prove. i have to tell you as a lawyer that works for businesses, this is something that any of your small business owners out there have to be saying ouch, because we all have our customers, our employees sign nondisclosure agreements. in this case, it looks like the high level employee at google downloaded before he left, on a flash drive or something, the driverless vehicle information and then sold it to uber. this is something that i think is going to have some legal traction and i'll tell you, looks like he's actually got exposure criminally. i think small business owners that are trying to protect
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secret sauce out there will be cheering for this if it does happen. cheryl: certainly you've got to understand from google's perspective that was a big loss in revenue for them when you take away the technology. let's talk about jeffrey epstein, what's happening in you new mexico. the state is potentially going to go after the iran. ranch. it's part public lease and part private land. does new mexico have a chance of getting back that land? how tough is that? >> i think cheryl, it's a great question. i think it's going to be hard to get the land back. it's a mix of basically some type of witch's brew between the landlord issue and the lease issue. what i think this land commissioner is doing is discovery. there's 400 pages. what she's put on the record, they think they can identify other potential individuals that will be people of interest and i think we can all agree the more people that have information about this gentleman, and i use
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that term very lightly with him, is good to ultimately get justice for the victims. cheryl: i did not think of that but that is a very good point. we're going to have a lot more on this later on this morning many thank you very much for that, brian. we appreciate it. we want to let our viewers know that, going back to north carolina, the attorney general of north carolina will be on "mornings with maria" at 6:30 a.m. eastern time. lauren: coming up, joe biden's camp is pushing back against critics complaining about his gaffes. what they're now calling those gaffes and who they're blaming for them. and speaking of punching back, bernie sanders making a campaign stop, decides to take to the speed bag. wait until you see how that turned out, amazing video coming up right here on "fbn: a.m." ♪ hurts so good. ♪ come on, babe, you make it hurt so good. ♪ sometimes love don't feel like it should. ♪ you make it hurt so good. ♪
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lauren: today is the deadline for democrats to qualify for the next round of debates and only 10 candidates have made it so far. meanwhile, one of the leading candidates, former vice president joe biden, has made his share offed statements on the campaign trail and now his communications director is blaming the media for holding him up to unfair standards, adding that it's all part of his charm. are these gaffes charming? gop strategist amir beno and former obama campaign director robin buy row ar byro are here. will voters find it charming. >> these are part of the things a that humanized him when he was vice president. i think it's a non- issue. some of these are embarrassing but, hey, these gave birth to great memes for the democrats and it was light-hearted. honestly, i don't think it's
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going to be a huge issue. lauren: okay. but you know, you look at the polls, we're looking at the mommouth university poll, joe biden slipped by 13 points in one month. there might be an area where he's a little stronger and that's the area of healthcare. he got emotional in this ad. >> people know him. they -- >> the fact of the matter is, healthcare is personal to me. obamacare is personal to he me. when i see the president try to tear it down and proposing to replace it and start over, that's personal to me too. we've got to build on what we did. every american deserves affordable healthcare. lauren: did he strike the right cords there? >> no. i mean, let's talk about obamacare. what is biden going to do? is he going to distance himself from what was the signature healthcare accomplishment of the
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obama, biden administration, so he has to embrace it in some way. it's flawed and everybody knows it's flawed. instead of saying let's come up with something that's workable, he says let's take a crummy system and let's try to build on it. it's going to be a majo major ie for him. i think he's right not to embrace the medicare for all. which the polls show is not something that most americans favor. but by the same token, people aren't loving obamacare either and he's going to have to answer for that. lauren: there's a divergence, if you look at the battleground senate races, the democrats defending their positions or running against republican incumbents, they're not supporting medicare for all. that differs, what you see in arizona, for instance, in the senate race, differs from what you see on the campaign trail for the democrats running for
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the high office. >> that's true. my biggest concern right now for some of these progressives is they're wanting to abolish private health insurance. that's just not polling well and i he see it as a death sentence for them. it's something they have to try and explain. people aren't getting. it's just not a good issue. biden is really hitting the right note to capitalize on that strategically. so it's the best he's got right now. lauren: and we have three republicans now challenging president trump. he called them the three stooges. i'll get you comment on that, should president trump be worried? >> no. why would he be worried? they are stooges. i think what donald trump does better than most is that he sets the tone of the debate. he frames the parameters from the outset. and so he wants to style them
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the way that he sees them, he wants other people to see them the same way. and he's got legitimate gripes with each of them. i mean, he lays it out in the tweet that you just showed. i think he does that very well. he's going to interfere with their ability to raise money by doing this, he's going to set the tone as to who these people are and they're polling in the single digits so he's got nothing to worry about. lauren: thank you for your time. >> thank you. cheryl: stay with politics. here's the fun side of politics. bernie sanders attacked on sunday by a speed bag. look at this video. the democratic candidate was at the muhammad ali center in louisville, kentucky on sunday for a rally. he saw the bag, decided to throw a swing and you saw it happen there, sir isaac newton's law went into effect. the bag fought back against san determines he's okay but the video has gone viral. lauren: i give him credit for
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that, for even trying. cheryl: he's got a strong swing. lauren: he can punch back. kfc may have another hit on their hands. they are testing a plant based chicken substitute in atlanta georgia yesterday and they sold out in five hours. they sold as much beyond fried chicken as they generally sell of popcorn chicken in a week. they say they will study the test and decide whether or not to do another larger test or go for the full national rollout. cheryl: kfc's not the only ones crewing this morning -- crowing this morning. popeye's released their new chicken sandwich over two weeks ago. it is now sold out. they were supposed to last until october. customers may be upset. popeye's employees may be happy. some workers claim the promotion caused them to be abused by customers. one worker told business insider, he worked an 11 hour shift, had to build 600 sandwiches in one day, one
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chick-fil-a employee tried to make life better forth their for popeye's counter part, by handing out chicken sandwiches. lauren: the war on wall street between equities and bonds, the 30 year yield is at a record low, the spread between the 10 and two year are widening and stocks are up. coming up, satellite images putting the united states on high alert. is north korea readying a new type of weapon? and a popular water bottle recalled. we have details on a a potential health hazard you need to know about. keep it here on "fbn: a.m." ♪ do you remember at all. ♪ people walking in hand in hand.
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voya. helping you to and through retirement. lauren: the white house is studying satellite images that suggest north korea might be building a submarine capable of launching a nuclear missile. if true, how will the u.s. respond? we bring in james ca c a ar a ao of the heritage foundation. are you alarmed by this? >> maybe. from a strategic standpoint, i don't think the north korean submarine fleet represents a real threat to the us. i think we have the capability to deal with that. one of the strengths of the trump negotiating style is a
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safety net, missile defense, plus the sanctions in place, but from a negotiating standpoint we've seen the north koreans do some things just kind of demonstrate they're still there. but if they're doing strategic threats, long range ballistic tests -- lauren: which they haven't done since 2017. >> nuclear tests, those things would derail the talks. how this fits in there, i think it's somewhere in the gray area. i think the u.s. is -- the other thing is, i think the north koreans want to see if trump gets reelected before they take the next step. lauren: beijing wants to see if trump gets reelected. do you think that's what's behind phone call-gate, whatever you call it, the he said, she said in the trade talks. >> i think definitely north korea and iran are waiting to see the results of the election. i think china's in a different place. their economy is being affected.
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they have to deal with domestic politics. i think there are back and forth on both sides. people ask about china, how is it going to turn out. it's like a poker game. if you show me everybody's cards, i'll tell you who is going to win. lauren: the washington post writes this, president trump gets spooked every time the market goes down. the question is does beijing know how to tank our market and are they waiting for that to stick for the stock market to really decline in order to have the upper hand in the trade negotiations. >> i think it tells you the new york times is a partisan -- lauren: the washington post. >> dome matter, the new york times, washington post, they're partisan outlets that spin what's in their head. i would like to see the objective reporting they got that from, give me the chinese sources they used to get that, other than that's the narrative that fits for them. i don't look for the post or new york times for objective news or
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assessment of u.s., china policy or to be honest, anything else. lauren: we'll leave it there. thank you. cheryl: tired of the nagging, that's what drivers are saying. a new study from jp d jd power s drivers are getting annoyed with some of the systems and 51% disable features in their cars. some drivers say they don't want it some owners say some of the built-in car apps are so hard to use, they completely stopped using them. drivers say they prefer apple car play and android's auto to the actual automaker, like ford automaker installed device. i love car play. i think it's great, from apple. lauren: i haven't used it. cheryl: they're starting to charge for it. lauren: lovely. cheryl: making money. let's make money for you this morning. it's wednesday, we've got green arrows to show you. the dow is up by 12, nasdaq up by 3. if you live in the suburbs, you have a dog, and you're on the ko
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cheryl: a city that doesn't exist? well, an internet joke that went viral back in 1994 claimed that the city of bielenfeld didn't exist. now, the city is fighting back. this is a german city. they say if anybody can prove the theory that they don't exist they'll give them over $1 million. the town is taking submissions until september 4th. wait to fight back.
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lauren: let's get you caught up on global market action. u.s. stock market futures slightly higher, dow up 8, s&p up 2, nasdaq up almost 2 points this morning. let's check out asia, relatively muted session believe it or not in asia. and in europe, stocks are mixed. the ftse is higher by 22 points. the cac is down by 28. the dax is down by 60. here's the news. great britain's government has asked queen elizabeth to suspend parliament just weeks before the brexit deadline at the end of october. let's bring in michael houston, chief market analyst. michael, good morning. does that make a no deal brexit more likely? >> certainly given the reaction of the pound to that news, yes, it certainly does, because what suspended parliament in effect does, it cuts the amount of time that the no deal m ps have to try to prevent a no deal brexit.
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the timing of the suspension, however, ahead of the brexit vote, there's a certain element of political calculation there and certainly i think there is a perception perhaps to boris johnson by making this a much longer extension than is normal, is playing a little bit of political game, trying to suck the oxygen out of no deal mps to try to prevent a no deal brexit. lauren: it also ups the need for a trade deal between the u.s. and the u.k. should that hard brexit happen. what's the temperature on that potential pact? >> i think the problem here is they're putting the cart before the horse. i think we're probably heading towards a general election. i think there is another political bandwidth in the u.k. for any type of trade deal at the moment. we need to get past the 31st of october and potentially we need a new election with boris
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johnson reelected as u.k.'s prime minister. lauren: michael, thank you. >> thank you. cheryl: well, millions of very popular water bottles have been recalled. tracee: the bottles have been voluntarily recalled because of the spout that could separate from the bottles and cause a choking risk. some of the spouts have fallen off and ended up in kids' mouths. more than 5.7 million of the bottles were sold betwee 2018 te of this year. yelp is getting more personal. it's introducing a new feature that generates custom search results based on your lifestyle. users can set up profiles with dietary restrictions, interests and other key information. the data is then used to create search results that fit your needs. the for you option can be turned on and off depending on what you're looking for.
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watching movies at at home the way the directors meant for them to be seen. a group of directors including martin scorsese, ryan johnson, have teamed up with the uhd alliance to create a film maker mode on ultra hd tvs. the feature will adjust the various tv settings so the movies look more like the film makers intended them to. and that's what's happening now. lauren: that's pretty cool. cheryl: we've got a lot more coming up. the little lies americans are telling their bosses to make sure they have a better vacation. and some great news for wine drinkers. why it's time to just pour yourself a whole other glass of vino. lauren: cheers. ♪ at the end of the night when the lights go down. ♪ will we turn down.th ♪ we won't they customized my car insurance, so i only pay for what i need. then i won the lottery, got hair plugs,
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wine could help keep cholesterol lower and help obesity. cheryl: days after luck retired from the nfl, rob gronkowski fighting tiers and why he walked away from football. >> i want to be clear to my fans, i needed to recover, i was not in a god -- good place, football was bringing me down and i didn't like it and i was losing the joy. lauren: former new england patriots becoming emotional as you can see he will be advocate for players to be allowed to use cbd for pain relief, let's get more insight from all of this with jared max, does he have a point? jared: he says he's pain free. he went and tried overnight and
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want things to change, here you have andrew luck and rob gronkowski, bigger names just days apart say this sport of football all the rigors, slings and arrows have taken joy out of life and both step get away, and we find out for fifth straight year decline in participation of high school football across the country, lowest point in 20 years. supply chain to nfl is getting cut down, slimmed down. does this have affect on others? he feels good that he can play right now but the nfl has policy, you can't for starters be endorsing cbd products let alone be using them which seems insane which is insane to order
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cbd. >> they want to see marijuana put in use for pain management better than opioid. >> yeah. cheryl: to your point about the kids, our friend jack brewer, he said, my son is not going to play football, he's a retired nfl player. my son is not going on that field. jared: murray had contract, i want to go play football. i think the majority will be on the fence, yeah, i'm going to allow my kid to play football, you see andrew luck and rob gronkowski and former players who can barely speak anymore, what these guys do for our enjoyment, thank you, but who knows how long. lauren: jared thank you so much, you can jared on fox news 24/7, siriusxm 115. cheryl: dagen mcdowell in for maria. good morning.
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dagen: good morning, ladies, good morning, everybody. i'm dagen mcdowell in for maria bartiromo. futures looking for direction as uncertainty about u.s.-china trade continues, 13-point gain on the dow future, gain across the board after 124 loss yesterday on blue chips, after new round of tariffs are set to go into effect. also in focus recession and 10-year yield and 2-yield inversion not seen since 2007, inversion continues and between the 3 months and the 10-year, that inversion has been in place for about 3 months now. major opioid settlement. $13 billion to settle thousands of lawsuits, fallout ahead.
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