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tv   FBN AM  FOX Business  December 3, 2018 5:00am-6:00am EST

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completely abdicated its responsibility to hold the government accountable in the form of robert mueller are. lou: great to have you with us. we appreciate it so much. >> great to be here. >> we will be discussing trade and i think at some point and great for global investors. up 519 points getting 182. those 2.6 percent. they are now had breaking news overnight.
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5331. 2% gains in london and frankfurt. honoring the memory of resident george hw bush. he was a great president. he loved his family he loved his work. he loved his country. tributes like this one from former vice president dan quayle. fbn:am starts right now. it is monday, december 3.
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there has been a major breakthrough at least temporarily in the u.s. china trade disputes. the u.s. and china caught the truth. they agreed to delay any trade tariffs for at least 90 days while they hold talks to discuss differences. it's an incredible deal. it would go down as one of the largest deals ever made. >> an incredibly positive impact on farming. industrial products. every type of products. >> we had breaking news from overnight. china has agreed to reduce and remove tariffs on cars coming in to china from the u.s. currently the tariff is 40%. the trade truth is oil prices against these oil prices.
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they are agreeing to cut oil production but just this morning it said it will leave the cartel in january. it has been a member for 67 years. we are now back from the brink. stocks looking to soar at the opening bell. the s&p up 50 and a quarter. and the nasdaq is up hundred and 79 in change. they join us on the breaking market news this morning. we are looking at quite a rally. there is a big piece in the wall street journal that talks about the fact that the chinese are making big platitudes in premises. do you believe them. great news however. exciting to be with you. 500 points higher.
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as the president had promised there would it be any new tariffs come january 1. they will mergers -- reduce their auto tariffs. the question now is can last. just as the politics have given us at this rally i think of the politics could potentially take it away. we've heard as companies from drawer ford and gm. that was of course a retaliatory move. we have not gotten confirmation on that though. just the president's tweet at this point. what he make up some of the deal points. the force a transfer transfer of technology to chinese companies. it is an issue that is a dangerous opioid that affects a lot of companies.
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they are saying they are going to deal with us on that. prompted a lot of concern among investors big and small. they hate taxes and uncertainty. and tremendous uncertainty to your point. any element of clarity in the amounts of uncertainty. and use the markets are stuck. they cut all tariffs. it would be up to 2000 points. that's the? of course. the trade goes today. it's monday. soybean prices going to the roof this morning. obviously if you look at a soybean production and exports they go down to zero. almost 2% jump this morning. i wonder exactly how much these markets have been held down by this uncertainty.
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this market was going gangbusters until some of these tariff worries really started to bubble up in the last couple of months. it will be an interesting day to watch. have a great morning. the massive data breach has experts asking what could've been done to prevent it. good morning. the reservation base. it involves the theft of personal information of up to 500 million customers and began back in 2014. until the september. they believe marriott missed a huge opportunity to stop the breach a few years ago. experts say a more thorough
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investigation into a smaller breach back in 2015 could have possibly uncovered the hackers who were instead able to look in the reservation system until now. marriott down about 15% year to date. must talk about amazon. they're looking to expand on that. this is the amazon go cashier check out technology. they're looking to try that out. while the technology will be a little bit harder to implement in those larger spaces with the big ceilings and more products the bigger amazon go stores it would mean another threat for those traditional retailers. amazon is trading higher in the premarket and they previously said they were not going to use this in the whole food stores but well had to see if they change their mind. what's beyond online advertising. it's going to start selling
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content subscriptions and giving users ways to make purchases through its site. this comes after missing and revenue targets on yahoo and aol earlier this month. verizon is trading slightly higher in the premarket. tracy, thank you very much. we are remembering president george hw bush. lesson eight months after his wife of the 73 years barbara bush died tributes are pouring in as a nation honors the 41st president of the united states. >> clearly he did that. i think he's in a go down as the greatest one term president ever. because of his foreign policy and deftly -- deftly handling the end of the cold war.
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that kind of attitude and something a lot of people miss. they were good-natured and open and we continue to debate things all the way up until recently. >> yourself in the present president present were inaugurated on deanery 29th. as a ronald reagan left. >> what he said to me on the steps of the capital's we said goodbye to ronald reagan and nancy reagan he turned to me and this low voice and says that man it was very was very good to me. i can say that today that man george bush was very good to me.
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that is the way he operated. he was an extraordinarily if you think about it go back and look at the record the former president service dog lying next to his casket yesterday. they will lie in state and the capitol rotunda. tonight through wednesday. he is declared once in a national day of mourning.
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the former president will be returned to texas for a private funeral service. we are can have more on the show markets will be closed on wednesday. just as at president bush would have liked it. we have a temporary pause in the tariff escalation and that as a boosting markets. as we got a break will show you doubt futures. they are soaring to start the week. s&p up 50. still had cast in paris. hundreds of protesters how the french president is responding this morning in a plot to kill president trump with the forklift is busted and how police caught this man targeting the presidents limo. you're watching fbn:am. [music]
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>> welcome back let's get you caught up on once happening this monday morning. investors cheering the trade truth. futures up to 512 points.
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nasdaq up 179. in france president emmanuel mccrone said he's considering all options including just clearing a state of emergency following the worst right and over a decade. he is calling for a meeting between the prime minister and leaders of the yellow fast protest. their movement is in protest of the economic policies. those responsible for the violence in the image will pay for their actions. we've a fox news exclusive. satellite images as you can see here shows that they had service to air missiles. this comes as tensions ramp up following russia's seizure of the needle -- naval ships in the black sea. the north dakota man has pleaded guilty to stealing a forklift admitting he intended to flip president trump's limousine with it and in an attempt to assassinate the president. this man could serve up to 20 years in prison for his plan. there had been more than a thousand after shocks in it alaska. most of the shocks were weaker than a magnet to 3.5 fake.
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look at those images there. and that is what we are following now. as you can see we have a major rally on our hands. based on what happened at the g20. the s&p up 49 and a half. tech heavy nasdaq. also there was this coming up. marriott still at dealing with the fallout from the second largest private sector and act in the. >> for a company like marriott to not be affected. and then to not report it this is huge. so what is marriott's excuse. why did they stop at it sooner and have a chance.
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marriott is still dealing with the fallout of a huge security breach involving 500 million * word gas. it missed the chance to stop the hack years earlier. they were aware of a much smaller hack in 2018.
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we thought it wasn't that big of a deal. we've seen this happen was so many other breaches. unfortunately now as consumers we just need to pick up the pieces and try to figure out how to best protect ourselves i think a credit freeze is the best thing we can do now given what we know because we really want to prevent unauthorized accounts been opened in our names. this is a reminder that privacy fears go beyond technology. we've been beating up the big tech companies for their lack of protecting our privacy and in this case because these are hotel guest passport information was also compromised it says that marriott should pay the cost for new passports for those affected. well that happen. this is good to be an interesting test in europe for example of the new gdp our regulation which technically could find companies like marriott up to 4% of their global revenues it doesn't
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seem like experts think that marriott will face that stiff of a penalty but it's really the first test of this new european lot which goes much further than u.s. law when it comes to data breaches. there is a lot of calls have stricter regulations here in the u.s. is just a such a competent issue i think what's most important for all of us to realize. let's control what we can. this can include freezing your credit. and also checking up on your credit regularly. changing passwords that might have been affected and making sure that you're not using the same password on your marriott rewards account as you are on something like your bank account. they are calling for a new data privacy law that are breach laws.
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i don't think we're gonna see that anytime soon. it's a very complex issue. it's can take a lot of time to sort out. after aqua facts if we were ever get a seachange it would've been after that. it hasn't happened yet. i don't see major change here. ted rosman think you for joining us this morning. >> markets are looking really strong on this monday morning after the g20. nasdaq up 180 and half. the tech in nasdaq was really soaring. it pays off for the temporary trade truth. people like me who have really been concerned about the presidents stated trade policy can take some encouragement about what happened the last couple of days the trumps tactics are they working. in dealing and dealing with the scene from the hit movie christmas vacation.
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>> the relationship is very special i think it's can be a great primary reason why we will probably end up having something that is good for china in the united states. and good for stocks around the world after the u.s. in china reach a truth --dash my truce in this trade war. take a look at futures dow up 519. remember technology transfers
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soaring here nasdaq up more than two and half percent. oil prices also surging on the trade deal. as well as news. saudi arabia and russia would cut production. right now we are seeing afford half% gain. fifty-three 24 the barrel. look at europe right now. all of those markets higher. they are gaining over two and half percent. and the nation is remembering president george herbert walker bush. >> he got things done. what when he left office the economy is growing the berlin wall came down. select tributes like this one from former vice president dan for the president.
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we are coming up on 5:30 a.m. here in new york. it is monday, it is december 3. good morning. the news today is a positive the trade war. president trump decided not to increase trade wars. the two countries have pledged to immediately begin negotiations on structural changes the vice president of national security and foreign policy. the president has this strategy if you will and then trying to fix them. i'm not sure he can fix the big structural changes like trade and intellectual property. this is more game of thrones. this is the first president that has taken a policy the
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chinese were clearly part plaques. and clearly they didn't know how to deal with this guy. and the president is falling into the same trap. of course they are. the chinese blinked. a lot of parallels between this and the north korea negotiations.
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do you think he sacrifice any of his leverage. here in the u.s. these farmers had so many soybeans and they're basically just praying and holding them right now. this is the challenge with using tariffs as the hammer. look the projection for next year is slower economic growth. that's not good for the united states so the president does have to has every president does. there was no is no kind of lunch free options here. he has two challenges. he has to pressure the chinese has to continue to do the domestic economic growth.
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the chinese feel exactly the same pressures. donald trump got china to blink and we will take it. and that blink is what we are seeing right now with the major global market reactions. it's jumping more than 500 points. the tech heavy nasdaq really higher hire up to a half% right now. that is the question here this morning. it's gonna really continue throughout the week and the rest of the year based on the news that we've got. >> we really have the trifecta going right now. we are back to levels where we were right after the election but we had fears of the fed. and we have the tariff wars that were in there.
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back to the old high is that we sought the first part of october. certainly for our viewers. united technologies a lot of these companies and stocks anyway taken a hit as a rhetoric has really moved higher. they tweeted about the new tariff deal with the chinese and basically what he said here was that they got a deal. china has agreed. >> with huge shifts up. the picture will pay -- play itself out. from a sales standpoint.
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we are close to peak sales. and that has been the challenge for the auto industry from a pricing. gm up almost 4% on the pre- market. the bad news of course was that gm was going to be closing plants and they have the smaller sedans. no question. with the reduction of the sedans the production ability for ford foreign makers to import those cars into the united states it is opening up in the market. obviously gmc and the profitability of the stance being very low and obviously they are going to implement a strategy closer to ford. ford ford is big into this market. do you believe though, that the economy stays strong we
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have the upper hand with china and we can play hardball. in the next 90 days what you say to that? >> ninety days is such a short time to try to do the negotiations obviously we would love to see with the trade impact. we are going to get more details on the china truth. it is this morning at 11:00 a.m. eastern time. it is this morning at 11:00 a.m. eastern time. a major media merger. >> next start media group has reportedly reached a deal to buy tribute media for about $4.1 million creating the largest local tv company in the country.
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the acquisition would add the 42 stations to next stars 175 tv stations and cities like san francisco. it would boost it. it owns more than 170 stations. next are up start up nearly 6% year to date and it's down here today. the wall street journal reports that the justice department is considering winding down movie distribution laws and limited powerful studio leverage that has been in place for 70 years. they are imposing difficult terms on theaters such as setting minimum ticket prices are demanding a screen time. her studio's entire lineup of films. according to the journal. they have not yet decided whether to ask the court to counsel or modify this paramount decree.
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it was another great week for reckitt ralph. for a second week in a row. ralph breaks the box office. this is the most beautiful miracle i've ever seen. they reclaim the top spot. holding steady in second place dr. seuss the grinch was 7017 points. fantastic beasts. thank you tracy. we will take a look at futures once again on this monday. we have got one heck of a rally going on after the u.s. and china agreed to a three month deposit in their trade war over the weekend. up 170 and three quarters.
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apple is really moving today also. the former fbi director cut the deal when testified before congress. and in sports. the championship they are all set. you're watching fbn a.m. you're headed down the highway when the guy in front slams on his brakes out of nowhere. you do, too, but not in time. hey, no big deal. you've got a good record and liberty mutual won't hold a grudge by raising your rates over one mistake. you hear that, karen? liberty mutual doesn't hold grudges. how mature of them! for drivers with accident forgiveness,
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>> let's get you caught up on what's happening now. after the chinese officials and of course the u.s. weaver rally up for 91. sap up 41 and a half. former fbi director james comey will testify up behind closed doors after all. he has reached a deal with republican lawmakers talk about the investigations in the hillary clinton's e-mail and the russian collision. he would only testify publicly if they agreed to release a transcript of the testimony within 24 hours of him giving it. florida's electoral -- election drama continues. she will not reside. she plans to fight for suspension.
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widely criticized for the weight her office handled it. texas families homage to clark griswold nearly cost a neighborhood panic watch. okay so a family in austin tried to re-create try to re-create that scene from national's christmas vacation. they have a clark griswold from the roof. they think it's real. tries calling 911 for help. the family said that they put the display up for a contest they had added a sign saying it's just a decoration also we should say they think the veteran for his concern and they got him a gift card for christmas. >> and those are your headlines.
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first, a college football playoff they are set. jared max has that. >> final playoff rankings are there. they will face the fourth ranked oklahoma sooners. a rematch of the 2014 sugar bowl when they upset the tide despite being 17-point underdogs. in the 20 -- december 29 orange bowl. they will face the winner of the cotton ball between clemson and notre dame. the pittsburg pittsburgh steelers have a 23 to seven lead late in the alley charters when 33. it would win in overtime. nine and three. the rams by the way 11 and one. they clinch the nfc west. there mason crosby misses a game-tying field goal with no time left. they lose.
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and after nearly 13 seasons on the job mike mccarthy filed -- fired for the rest of the season. a moment of silence was observed in houston texas yesterday for former president george herbert walker bush. a staple in the houston sports scene. they won their ninth in a row. i know cheryl we were there in houston and special to see president bush in the first lady barbara bush at the super bowl. you could've heard a pin drop in the stadium. such an honor for both of them. and you would've been proud. jared, thank you very much. you can catch the sports report on fox news headline. let's take a look at the market this morning. soaring futures as they cut the trade deal with china oil
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prices also soaring today. they are leaving the oil cartel while russia and saudi arabia agreed to production cuts that meeting later this week. well have a reaction from london. and then there's this. it was such an honor for me to work with him every single day that he was president. much more on the legacy of the nation's 41st president. ♪ there's no place like home ♪
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>> america will begin to say their final goodbyes to the 42nd
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president george hw bush. with how the late president will be honored this week casey, good morning. >> i think it's hard to look at that picture and not get a little teary eyed organ a talk about more in just a second. it has been in the works for years. and now it is just been executed like a will oiled machine. it will gather at this funeral home back here in houston. they will then motorcade to ellington field nearby. and that is where the plane that is normally used as air force one is standing by. we want to show that to you. and today it will technically be called special air mission 41. it will take the former president and his family to dc once arriving around 330
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eastern time. the president will be taken to the u.s. capitol building where he will lie in state. it's one of the most important things for americans to understand. dad taught me this. and therefore one of the jobs is to strengthen the institution of the presidency. and that clearly george h w bush dead. and this picture again breaking the internet. the presidents service dog to yellow lab in the air at the funeral home keeping much over the casket. they will also travel with the family the president wanted him to go back into service he got solely after a former first lady barbara bush passed
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away to help him and serve as a companion. he does 33 different commands. and so the presidents family though they won't miss him greatly they want him to help another family. back to you. for a look at george's legacy. we know he hated the word legacy. he hated the word dynasty but his dynasty but his mark on foreign policy is undeniable. i think you will be a great president in history historians will look back and say he saved the union. but reagan and bush saved humanity. it was a very dire time. there was teachers telling them it doesn't matter what university you go to because
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the world is not going to survive. we talk about terrorists getting their hands on nuclear weapons they have their hands on nuclear weapons so they brought that to an end. he worked with the cardinal through the pope. i can't tell you the pressure we have laurent a lauren a people coming to the white house from the baltic state saying send troops this is a last chance we head for freedom. but he was restrained. he wanted the whole soviet union to be dismantled and it happened on that happened on his watch. >> he orchestrated the end of the cold war. the unification of germany and the berlin wall came down. the gulf war was paid for he got saudi arabia and kuwait to pay half of the cost and the
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burden of the gulf war compared to the iraq war which dropped us into one of the worst depressions in world history. all on borrowed money. very deliberate and thoughtful. i debated him in the practice debate i very sharp intellectually. and very humble. he reminds us of a different time in politics. throughout the entire time he never forgot who he was. he never let it all go to his head. he was a man of great humility. he was humble. i remember one day he called me into the presidential suite i thought it must be a shooting or an assassination
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or something terrible. look at them they are dressed up like bunnies. the leader of the free world. the best one term president we ever had. thank you very much for remembering him with us. all of the attributes that are to be pouring in for the 41st president. a big rally around the globe after the u.s. and china declared at temporary truce. a major player pulling out. lane. lane. we're putting ai into everything,
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>> stocks overseas trading sharply higher over the u.s. and china agree to a 4890-day truce over the weekend craig and market analyst sheer, and craig what is the reaction to this temporary deal? >> well it is incredibly chance of an overall agreement in three months seems slim but important first step it shows that both sides want to get that deal on table whether or not or for a year or more is irrelevant it is important and very good first step.
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>> let's also talk about oil prices they're surging for many reasons this morning but i want to specifically ask you about qatar they're going to lead opec cartel in january. why do you think that is? >> they say it is not political. but when we see what's happening right now with saudi arabia and other countries in the region, it is hard to see why that wouldn't be a factor in their decision. they also have a small producer of oil they want to focus more on liquefieds gas a part of their economy clearly being a member of opec is not being important part of that. >> okay. all right craig thank you so much for being with with us this morning we certainly appreciate it, sir. >> let's say good morning to dagen mcdowell she's in for maria bartiromo mornings with maria starts is right now. >> good morning ladies i'll see you shortly good morning everyone i'm draggen mcdowell in for maria bartiromo monday december the third your top stories at 6 a.m. eastern. trade truth, the the u.s. and china holding off on raising tariffs in january.
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president trump also tweeting that china will cut tariffs on american car imports. markets around the world soaring on the news. here's the united states we have a 48 l 5 point gain on the dow futures after a the market turned around on friday. we have a week off a week that was the best for the dow s&p 500 and nasdaq since 2016. take a look at what's going on in europe stocks there are moving to the plus side we have gains across the board. the 100 and dax in germany up more than 2%. asian markets first react sharp gains across the board a two and a half percent gain in shanghai, and on the and hong kong we're also watching commodities markets on trade grain prices up -- after the white house said china will start buying american agricultural products. exports, and corn have fallen this year. and as the the trade tensions height fund but look what is
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beginning on right now. oil meantime bouncing higher to plus side, opec said to meet this week but cartel losing long time member next year qatar withdrawing january the first what that means to market ahead. and honoring a political icon, and war hero -- >> he was a great individual in my opinion a great president. he loved his family. he loved his work he loved the country. >> president jorntle h.w. bush will return to washington one last time teed. as the nation says farewell to our 41st president. we take you to houston later this hour. >> and we also check in within alaska aftermath following that earthquake, schools closed in anchorage many staying home from work after that magnitude destroyed a key roadway we have the latest


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