Of that from happening to you. It is thursday, it is august 29th and fbn a. M. Starts right now. Youre still the one. That makes me laugh. Still the one. Thats my better half. Were still having fun. And youre still the one. Youre still the one. That makes me strong. Still the one. Cheryl welcome to fbn a. M. Good morning. Im cheryl casone. Lauren good morning, im lauren simonetti. Cheryl lets take a look at how your money is moving on the fresh headlines from chinese officials overnight. It has moved markets. As you can see, futures trading last night were down. Now, the dow is up 196 points, s p up 20 and a quarter, nasdaq up 71 andahalf. Lauren global yields this morning are dropping. The german yield at a new record low, minus 0. 71. With the headlines from china, the yield in the u. S. Is up 2 basis points. Cheryl a little more confidence in stocks there. Lauren we just saw that jump up a bit. Cheryl the Trump Administration rolling back obama era rules on the oil and gas industry and the energy march hmarket and the traders ae watching the headlines closely. Weve got a bump a half a percent on crude. Lauren asian markets mostly lower, the shanghai composite down a tenth of 1 . China indicating it wont retail retaliate against the newest tariffs that will go into effect on sunday. Cheryl weve got pressure on the u. K. Ftse this morning after the plan to suspend parrel plant raised the likelihood of a no deal brexit. Iitaly will likely be forming a new government. Lauren a lot of politics going on, moving markets. Our top story is Hurricane Dorian, millions along floridas east coast are bracing for impact as dorian strengthens in the caribbean, its a powerful strong. It buy passed bypassed puerto rico and its taking aim at the sun shine state. Cheryl Aishah Hasnie joins us now. Reporter its not looking good for floridians. The state is under a state of emergency as people rush to the stores to try to buy anything thats left. Dorian became a hurricane near st. Thomas on wednesday. You see some scary waves rocking boats in st. Thomas. We saw some of that happen, some reports of sunken boats out there as well. Tourists in saint john were trying to cover from the wind and the rain. Theres the video of the boats in the ocean there. This is all going to get worse here. The National Hurricane center predicting dorian will be a category 3 as it passes the caribbean and makes a hard left for the florida coast early monday. Were talking wind gusts up to 140 miles per hour. As you said, millions of people getting ready for this. There have been long lines for gas in south florida and water. Water is already sold out in some florida stores. I bought tuna fish and potato chips and Peanut Butter and jelly and water. Reporter floridas governor tweeted this, spoke with real donald trump, potus tonight at 8 45 p. M. To give him an update on Hurricane Dorian and he reassured me florida has the full support of the federal government as residents prepare for the storm. And as the threat increases, some Major Airlines are restricting travel already to florida. Southwest and allegiant began issuing travel waivers last night. Cheryl were going to be following Airline Stocks today based on the headlines. Thank you very much. Many airlines as she was talking about are talking about those waivers. If you do have plans especially to travel to florida, definitely check with you your airline. Lauren the debate over brexit is reaching a fever pitch. More than a Million People signed a petition to Keep Parliament in session after queen hel elizabeth granted a request to suspend parliament. It suspends the time opposition members will have to try to block a no deal brexit. Thousands of people protesting in the streets across the country. This comes as the leader of the conservative party in scotland is set to quit over disagreements with boris johnson. And take a look at the british pound, under pressure, down today at 121 versus the u. S. Dollar because the pound is weak, the ftse 100 is higher but the ftse 250 is down. So that shows the real impact of the brexit negotiations. Cheryl weve got breaking news overnight. China is now suggesting it will not retaliate against the latest round of u. S. Tariffs that are set to take effect on sunday, september 1st. That is what is moving futures. A spokesman for the minister of commerce saying the higher priority is to talk with the United States about removing these new tariffs, prevent that trade war from escalating any further. Both china and u. S. Treasury secretary Steven Mnuchin have confirmed theres going to be talks next month but no word on exactly when or where the talks will happen. Lauren and the impact of all of this is expected to have slowed Economic Growth here in the u. S. In the Second Quarter. Today we get a read on the second estimate for Second Quarter gdp. Its expected to slip to 2 from the first estimate of 2. 1 . That will be he released about an hour before the opening bell. Also, u. S. Footwear companies are a angry about the new roundf u. S. Tariffs on china thats coming. Edward lawrence has more on that. Good morning. Reporter good morning. 200Footwear Companies signed a letter delivering it to the president something askin askine course and cancel the next round of tariffs, which will be at 15 on the additional 300 billion worth of chinese imports coming into the United States. The first part goes into effect on sunday, the rest on december 15th. The Footwear Companies say the cost to americans would be 4 billion each year. The point of the administration is that this is a longterm gain because according to the u. S. Secretary of agriculture, americans will lose more over time with the status quo. The question is, whats china going to do to stop stealing our stuff. Maybe you would like to ask china, president xi, what chinas going to do to come to the table and trade like a number two economy in the world and trade fairly, freely, and without hassling and jerking our producers around. Reporter as the u. S. Trade Representatives Office increases the tariffs, the chinese have retaliated. The chinese will reimpose a 25 tariff on u. S. Imports of autos and Industries Democrats say theyre mostly on board with the president s plan to do this. The white house saying the tariffs have brought the chinese to the table. This is the way the president negotiates, whether its the usmca, the mexico deal where they sent troops to their border. He wants other countries to succeed as well. This is about protecting america and getting the best deals for us. Reporter both trade delegations say they will meet in washington in december. A meeting has not yet been set. Cheryl edward lawrence, thank you. The Trump Administration unveiled new rules that say that children born to certain u. S. Service members and other Government Employees abroad will no longer automatically be considered u. S. Citizens. Parents of those children will have to apply for citizenship on the childrens behalf. The before they turn 18. This appears to be aimed at military families and diplomateic families who havent lived in the United States for many years. Possible legal challenges are expected. A lot of confusion about the policy announcement. Well have more later on. Lauren Lawrence Odonnell is a apologizing after running an unverified report that directly tied President Trumps finances to rush shark russia, saying hie cosigned by russian oligarchs. I didnt go through the rigorous process fro prosrigpro. I shouldnt have said it on air or posted it on twitter. I was wrong to do so. Lauren there was the a apology. President trump tweeted this. There has never been a time in the history of our country that the media was so fraudulent, fake or corrupt, when, quote, the age of trump is looked back on, i hope a big part of my legacy will be the exposing of massive dishonesty in the fake news. Cheryl the fbi is expanding a criminal investigation into alleged corruption in the ranks of auto workers. Federal agents searched the Michigan Home of gary jones and Dennis Williams yesterday. The investigations has led to convictions for eight of nine people charged in that case so far. Lauren wow. Well, were another step closer to a space force. Cheryl something President Trump talked about many times. Tracee carrasco has the story. Tracee the Trump Administration is set to launch the u. S. Space command today. It will include 87 active units handling operations such as missile warnings, satellite surveillance, space control and support. This is seen as a precursor to a sixth branch of the military known as space force which has been proposed by President Trump and requires congressional a approval. Juul working to combat underage purchases in response to growing criticism over teen vaping. The company is pushing retailers to install machines that will verify a customers age. Juul is offering 100 million in incentives to get retailers onboard with the new technology. Another retailer heading towards bankruptcy. Or cording to bloomburg, forever 21 is preparing for a potential bankruptcy filing. Negotiations with potential lenders have stalled. Forever 21 has more than 800 stores worldwide. And marriott is saying goodbye to those little bottles of shampoo. The Worlds Largest hotel the chain is phasing out single use plastic toiletry containers by 2020. They will be replaced by larger pump bottles. They say the move will prevent about 500 million of the small plastic bottles from going into landfills each year. Thats about 1. 7 Million Pounds of plastic and thats whats happening now. Lauren i like it. Cheryl good for the environment l. What am i going to steal from the hotel room now. Lauren maybe the soap. Tooth brushes. Take a look at futures this morning. U. S. Stocks are building on yesterdays rally, dow up 235, but with today and tomorrow left for the month of august, the three major averages are down at least 3 . Still ahead, apple is apologizing. It says im sorry no sore for lg to private conversations. What is apple going to do about it is the question. It seems like everyone is looking for a way to scam you these days. What does it take . I dont exactly know. Nobody ever asked me that before. Lauren were going to talk to one of the worlds most famous Security Experts about how you can keep your information safe. Keep it here on fbn a. M. No ones going to tell you what im all about. You need to find out h automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Were changing whats possible. For instance, we know how your customers shop. And what theyve already purchased. Like this lamp. And we use those insights to show you what they might consider buying next. Midcentury modern, nice. That way, you can keep sending them offers for the perfect products. And that keeps them coming back. Hows that for changing whats possible . Cheryl breaking news overnight, a federal grand jury indicted the suspected capital one hacker. Paige thompson is charged with wire fraud and data theft. She is accused of stealing data from more than 100 million capital one credit card applicants. Thompson going to be arraigned next month. Lauren. Lauren Hurricane Dorian is gaining strength as it heads towards the u. S. On a path right now expected to hit florida. Fox meteorologist add saddam klotz is here with adam klotz is here with the latest. As we saw mostly yesterday, this hurricane missing puerto rico by and large, running over the Virgin Islands instead which was good news for those folks. Now were back out over open water. This will start to intensify. Todays it is a category 1 hurricane. It will be several days before it gets to the florida coast. It will continue to strengthsen. Winds currently at 85 miles an hour, gusting up to 105 miles an hour, moving to the northwest at 13 miles an hour. It is likely to jump up to a category 2 storm this afternoon, jumping up to a category 3 storm by monday morning. Were beginning to run up along the coastline but youre seeing the area from miami to jacksonville, theres a lot of time before it makes its move. Again, likely a category 3 storm, very strong winds with landfall early monday morning and well be covering it from now until then as it continues to work itself out. Lauren thank you very much. Cheryl u. S. Stock Index Futures are rallying this morning as china is indicating it will not retaliate against the latest round of u. S. Tariffs. Were trying to figure out what that means. Lets bring in dominic tavela. And look at the futures market right now, up 236 on the dow. So theyre saying they will not retaliate. Does that mean that maybe theyre not going to put those tariffs on the 75 billion of u. S. Imports into china . Were trying to figure that out but we dont know. Lets start with i hope so. Cheryl me too. Clearly, President Trump reacted immediately, as soon as china announced that they might increase these tariffs, he said well, im just going to increase it another 5 . I think this would ping pong back and forth. I think the chinese are like lets put coldwater on this, lets calm it down. Cheryl the headline from the Chinese Commerce industry overnight whichs is moving our markets, we would like to resolve the issue via theyre acknowledges the titfortat, the war of words, the chinese are putting the brakes on all of this. President trump reacted immediately and talked about increasing it by another 5 . So i think this is a good stat. Cheryl mnuchin talked about it, larry kudlow, everybody is talking about the fact that were going to sit down and talk. Youve seen the president s advisors have the calm attitude about the talks. The news in hong kong, youve got potentially these chinese troops reports theyre moving closer to the border. So far, theyre saying this is just regular exercises but that complicates things for xijinping. Theyre calling it fresh troops, maybe the rotation of troops. The reality is that troops, new troops coming into hong kong is going to inflame the situation, might make the protests worse. Theres a global spotlight on this whole event. Its scary stuff. Cheryl another big evidence eventevidence ponly, gdp readine second read on Second Quarter gdp. First read, 2. 1 . Expectation is for 2 . But that is going to be also a trade story h story especially a lower read. Over the last several weeks it was recession, recession, he recession. Were looking at a 2 economy. I believe the Third Quarter might be worse before we get recovery in the fourth quarter. But were not talking recession, at least the balance of this year. Cheryl weve said before, we could be talking ourselves into a recession i think. Maria bartiromo has been very clear about that. Lets not talk ourselves into it. The consumer represents the majority of the economy in the u. S. If we lose Consumer Confidence which by the way weve got a fabulous number the other day, if we lose Consumer Confidence this could turn on a dime. Cheryl dominic, thank you so much for joining us on a crazy breaking news morning. Lauren its crazy in Great Britain as well. Angry backlash after Queen Elizabeth granted the request to suspend parliament, limiting the time Boris Johnsons opponents have to prevent a hard brexit. Oliver blackboard is a portfolio manager. He joins us now. Good morning, oliver. Good morning. Lauren is there way this increases the chances of getting a deal by the deadline, october 31st . It does put a lot more pressure on the eu to do something in that direction. But at the same time, its still unclear exactly what the governments strategy is. Do they want a deal or how happy are they to go away with a no deal. Lauren what is the market telling you right now . I think the market is telling you that a lot of this is priced in. The he reaction so far has been fairly muted. Yesterdays movement wasnt an outsize move compared to the scale of moves weve seen in recent years. The u. K. Market was up, saying theres not a lot of risk to premium coming into that market partially you had a weaker start, helping overseas earners when you translate that, you improve those with a weaker pound. Lauren what legal challenges. Yields were lower. Lauren just what legal challenges can we expect and does any challenge on that front interfere with the october 31st deadline . Any legal challenge takes you into the realms of a constitutional crisis. Its uncertain how much power the courts have to overrule parliaments in this sort of situation. Instead, i think you might see that more of a legislative effort by politicians to change the direction of the Brexit Process is more likely. And if it cranks up well see efforts to remove Prime Minister johnson and replace him with a unity government. Lauren were seeing those signs being held by protesters, what happened to u. K. Democracy. Oliver, thank you for joining us this morning. Thank you. Cheryl weve got a lot more coming up this morning, folks. The Justice Department now targeting james comey in a new report. We expect to se