Fbn a. M. Starts right now. Now i got to get up in the morning. Got to find me a lover that wont run for cover. Lauren welcome to fbn a. M. Good morning. Im lauren simonetti. Cheryl good morning, everybody. Im cheryl casone. Lauren what a day to check your money. We have a rally right here in the u. S. , all three major averages gaining for the fourth day in a row, closing in on record highs. The dow is up 196 points, s p up 23, nasdaq up 92. Cheryl as tensions in iran continue, were going to get more on that breaking news in a minute. We want to look at oil, oil rose almost 3 , were now at 2. 7 gain, a 55. 21 the last print on oil. Lauren lets take a look at the yield on the 10 year treasury after jay powell and the fed yesterday said theyre not going to cut at that meeting but they might in july. We have the 10 year yield at 2. 01 , down 2 basis points, about an hour ago it was under 2 . Cheryl take a look at asia, the nikkei, hang seng, kospi, all in the green. The u. S. China trade story still on the minds of investor theres. Lauren indict toe in europe. The ditto i in germany, dax t a six week high. Cheryl iran shot down a u. S. Navy drone flying over the strait of hormuz. The revolutionary guard said the drone was flying in an iranian air space and the downing was a message it would protect its borders. A u. S. Official confirming the downing to fox news. The official said the drone was flying in International Air space, 17 miles from iran. A former cia chief joins us on this news. Thanks for getting up for this, sir. What is your initial reaction to this new news from iran and, again, this seems to be another move by the regime to stoke tensions between the two countries. This was a u. S. Drone conducting surveillance and reconnaissance in International Air space by all accounts and so this is part of irans strategy of gradually escalating the tension between our two countries. Youll recall that back on may 8th, iran threatened to enrich uranium to weapons level if they didnt get relief. Theyve also launched these attacks,al bea, albeit not agai. Trips or service men or women, theyre trying to show us they can launch attacks and raise the price of oil. With the fracking revolution, thats having less of n i an it than it might have otherwise. Cheryl oil was up yesterday, several things going on, the u. S. China trade war effect, it was the fed, worries about a weakening global economy. You said you think the iranians are trying to push the price of oil up. This is about sanctions against iran, the fact that theyre now in a he recession in that country. At the heart of it, i think its about leverage. Weve crippled the iranian economy and caused their currency to go into freefall and weve said theres an offramp, its negotiating a better deal that takes over for this Flawed Iran Nuclear Deal that couldnt even be passed as a treaty in the senate. And iran knows that and their leverage is nuclear blackmail and their emphasis that, look, if they cant export oil, then they want to interfere with the flow of oil for others and i think thats just part of their calculus. Cheryl a few moments ago irans foreign minister was speaking on state tv. He condemned, quote, violation of our air space by the u. S. Drone and he warned of strong reaction to, such, quote, provocative measures. Not only are they saying this was in their air space, theyre continuing to say that, but theyre saying there is going to be counter measures. Part of this is for a domestic iranian audience. The iranian corrupt regime is well aware that domestic protests have had a history in that country, going back to the green movement, about a decade ago. And what they want to do is portray the United States as the cause of irans economic problems and the easiest way to do that is to heighten military threat that really doesnt quite exist as they say it does. Cheryl with the iranians, i want to ask you about this, the huthi led group based in yemen, there are new reports out this morning that they launched a projectile at a Desalination Plant within the kingdom. No damage, the saudis have come out with a statement saying there was no damage to the plant. Are they funded by iran . Yes, theyre part of the irans vast array of proxy militias, who are conducting kinetic attacks on irans behalf against the United States an our rallies. Cheryl were going to have to he see how the u. S. The military and the white house responds today. A lot of breaking news this morning. Daniel, thank you for joining us on this. Thank you. Lauren President Trumps trade agreement between the United States, mexico and canada one step closer to being ratified. Cheryl despite reservations by democrats. Hillary vaughn in washington with all the details. Hillary. Reporter good morning. The president is renegotiating the trade deals around the world because he said he wants to put america first. Yesterday, mexico became the first to ratify the usmca. Mexicos top trade negotiators celebrating the move on twitter, writing, quote, tmec approved, mexico takes the lead with clear signs that our economy is open market, we trust that our partners will soon do the same in the interest of a strong north america with clear rules, attractive for investment, stable and competitive. But u. S. Trade ambassador Robert Lighthizer was on the hill for day two, trying to convince lawmakers to get on board and push the usmca through congress, telling the house ways and Means Committee that the usmca reaches far beyond a deal with mexico and canada, its having rip pele effects. Right now, were going to have a catastrophe if this doesnt pass. Its going to have a bad effect with respect to our relations with china and everyone else if were in a position where we literally cant pass this agreement. What does it say about our resolve to have a fair trading system . Reporter lighthizer says he will meet with japanese trade representatives next week around the g20 meeting. He said he will discuss Market Access for u. S. Products into japan, especially beef, from the u. S. We have to resolve it. If we dont, these farmers are going to lose that market because of nothing they did, just because japan gave more access to somebody else and they may never get those markets back. And the japanese understand completely our position and im hopeful that well having resolved in the weeks and months ahead. Reporter lighthizer says treasury secretary Steven Mnuchin will meet with the vice premier before President Trump meets with president xijinping around g20 in japan next creek. Lighthizer says he didnt want to describe negotiations as being broken off with china but he also isnt ready to say theyre ready to begin meaningful talks quite yet. Lauren and cheryl. Cheryl thank you. More tough talk from President Trump on fed chair jay powell. The president reportedly said he believes that he has the authority to demote powell but is not planning to do so. Lauren all of this happening on the day the Federal Reserve decided to hold Interest Rates steady. Lets go to edward lawrence, he has the details for us. Reporter no rate cuts as of righting right now, the Federal Reserve decides to hold things where they are. Jerome powell defending the position, saying if they want to see more data longer term before taking action. Powell says they dont want to a act too quickly until they can see a trend, adding there are growing cross current over the past month. Were seeing this all around the world, manufacturing investment in trade have been weaker. Its not solely a domestic issue and it may be that there are a range of factors that are contributeing to that including, for example, what china has done over the last couple of years in working to bring down its leverage. Reporter powell says theyre not looking at one trade deal over another trade deal but how it all works together with manufacturing, investment and consumer spending. The Federal Reserve lowering the headline inflation to 1. 5 this year. Overall, our policy discussions focused on the appropriate response to the uncertain environment. The projections of appropriate policy show that many participants believe that some cut in the federal funds rate will be appropriate in the scenario they see as most likely. Reporter there was one descent, one member voting against it, st. Louis fed president James Bullard was the vote against. The last time there was a descent was december 2017. Lauren 2020 democratic rivals joe biden and cory booker taking shots at one another on the campaign trail. The former Vice President says he has no reason to apologize after senator booker criticized him for saying he can work across the aisle including with segregationist senators. Watch. Are you going to apologize . Apologize for what . Cory booker called for it. He should apologize. He knows better. Theres not a racist bone in my body. Lauren its starting to get ugly on the democratic side. Cory booker who does trail biden in the 2020 president ial polls says bidens relationships are not the model that are needed for the country. Cheryl a Major Airline is warning passengers there may be severe delays at the nations airports. Lauren Tracee Carrasco has the details for us. Hey, tracee, whats going on. Tracee Delta Airlines is warning flights may be delayed after a technical issue prevented passengers from checking in and boarding. The cause of the problem, not known, nor is its effect on travel. The outage lasted for a couple of hours. The airline gave the allclear shortly after 9 00 p. M. Last night. The issue triggered outrage on social media and delta apoll diswriefapologized for the inconvenience. Xijinping arrived in north korea, becoming the First Chinese leader to visit the country in 14 years. During the state visit he is expected to talk with leader kim jong un about reviving talks with washington over north Koreas Nuclear weapons. Shares of oracle getting a lift after the company beat profit estimates. The Software Maker said it benefited from demand for its Cloud Services and license support businesses, sending its shares up as much as 7 in extended trading. The results show oracles new businesses are leap frogging its old ones. And delt del taco said they wl offer beyond meat burritos, following the huge success of the beyond meat tacos. More than 2 million have been sold since they were added to the menu in midapril. Despite that, dont expect taco bell to join the plantbased meat crowd. It says it will stick with traditional meets and vegetarian offerings and thats whats happening now. Lauren im on taco bells side on this one. Tracee me too. Cheryl i disagree with both of you. Lauren cheryls into the plant stuff. Cheryl theres a huge market for that and if you serve them, they will come, they will buy your products. Taking a look at futures this morning, weaver got green arrows across the board, s p is up 24 and a quarter, nasdaq up 95 and a quarter, this after the big fed rate decision. Well talk about that later. Investors keeping an eye on flak this morning, the companys Public Offering could be a game changer for companies everywhere. And from the office to the home, working women are doing it all, right . But at what cost . Details coming up on fbn a. M. Thats what you get when you let your heart win. Whoa. 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. Lauren flack set to go public with a direct listing today. Here to break it all down, fox News Headlines 24 7s brett larson and david snyder. Gentlemen, good morning. Brett, to you first. What is flack . Its like a chat room for your office. We use it here at fox, you can get everything from the what we call our urgent queue, which is things happening right now in the news, and also something as simple as the menu for the lunchroom cafeteria and whats going to be on the menu for the day. Its an easy way for teams in multiple offices to collaborate in realtime. Lauren its an Unprofitable Company and they are looking, david, to pursue a direct listing when their shares do start trading today. If this works, is this what were going to see more of these unicorns, more of these companies about to ipo pursue direct listing . I think it only works for companies that have note rye at. The last one we saw was spotify. Thighs is a mechanism for liquid at this for existing employees and investors. So that may be the case. But it comes with a slightly less predictable first day of trading. It wont open at 9 30. It takes a couple hours typically. Lauren volume might be low. Correct. It is dependent if people want to sell at the expected price. Lauren you use flack at fox news. Yeah. Lauren some people complain its a little confusing but other people say, no, this is the future, this is going to replace email. How bullish are you on its prospects . Its still not making money. Its still not making money. Its one of many choices in that space of that realtime collaboration tools. There are some high end tools that are very specific to audiences. We use a program in the newsroom called inews that everybody uses. Its a love to hate software program. Its something you have to use and its terrible and but yet lauren tell us how you really feel. Yet, you still use it. Flack, it has as a technology person, it has that feeling to me. It was designed by engineers for other engineers to use. The average user is going to look t ate and say what is this again and why do i have to use it. In terms of replacing. Mail, we hear this all the time. Instant message is going to replace. Mail. Imessage is going to replace. Mail. Thats not happening. Email is a standard thats been around for decades. Its not going anywhere. Its a popular communication tool for average users. This is a great work space for corporations and i could see lots of startups, lots of Industrial Companies using it. Lauren same question to you, david. Lets say the economy slows down. Will you see Companies Say this is an expense that our company doesnt need to have and they drop it and then what does that do to the company . Its very addictive. It typically is the Technology Team thats the driver that wants to get it in. For a technology, its hard to pull it out once its part of the daytoday work flow. It got 10 million active users. Its a Premium Model like a spotify, a. Laurenzoom. Lauren do you expeo to go more along the lines of uber and lyft or more like beyond meat . I would be more on the positive stream. Lauren we will leave it there. David, brett, thank you for joining us. Remember, you can catch brett on fox News Headlines, 24 7, sirius xm channel 115. Over to you. Cheryl lets take a look at the action on wall street this morning, the day after the fed left rates unchanged. First, the u. S. Futures right now, can see the dow is up 212 in the premarket, s p up 24 and three quarters, nasdaq up 96, s p close to an alltime high, by the way. Were watching oil on that news out of iran and the drone. Still ahead, hero pilot sully culenbursullenberg blasting boed the faa yesterday. Is your google portraying you . The hidden hack that could put your home in danger. Youre watching fbn a. M. Im going to keep loving you, down, down, down. As long as youre holding me down, lauren crude oil prices are rallying 2. 8 this morning. A u. S. Drone downed one week after a tanker attack, this in the middle east, strait of hormuz and with this rally in oil were actually seeing a rally in the stock market, up four days in a row and close to record highs. Dow is surging 207 points. Cheryl well, we continue to follow all the events out of the Paris Air Show. It was a big blow to boeing. American airlines has just agreed to buy 50 single aisle jets from airbus. Boeings competitor. This leaves boeing behind in a new race to dominate the market for midsize aircraft. On monday, airbus unveiled a fuel efficient narrow body plane which is capable of flying between europe and the middle of america. Lauren one of americas most famous pilots is criticizing the faa for letting the max 737 to fly. He said the fatal crashes should not have happened. Doudoug mcelway has the story. Reporter Sully Sullenberger testified in front of the house subcommittee as lawmakers investigate the two boeing crashes that killed hundreds of people in ethiopia and indonesia. These two recent crashes happened in Foreign Countries but if we do not address all the important issues and factors, they can and will happen here. Reporter on wednesday, he told the Congressional Panel that pilots of the troubled boeing 737 max planes need to have simulator training. That kind of training is not mandatory, however, boeing does require a computer based course that can reportedly be completed in one hour. Reading about it on an ipad is not close to sufficient. Reporter a major factor was the maneuvering characteristics system, designed to automatically push the nose of the plane down to compensate for the max planes tendency to pitch up under full power. Sully said he recently underwent Simulation Training to experience what the boeing pilots went through. The startle factor is real and its huge. It interferes with ones ability to analyze the crisis and take corrective action. Within seconds the crews would have been fighting for their lives in the fight of their lives. Reporter the worst may have passed for boeing. At the Paris Air Show