Debate on tax cut, u. S. Stock market futures, down 4 points on the dow, up 2 points on the nasdaq, of course, all three major averages higher on the week. In europe all eyes on central bank. Rollback of economic stimulus. Lauren we do have breaking news. We see how the market is responding to this. The south korean judge ordered five years in prison and the south korean kospi up fractionally. Cheryl well, that didnt take long a day after getting Regulatory Approval am done says its going to start slashing prices at whole foods on everything from bananas to baby kale, fbn am, starts right now. Lauren happy friday, 5 01 a. M. In new york. August 25th. Im lauren simonetti. Cheryl we are looking at a major storm on the way right now. The breaking news for you at the moment, Hurricane Harvey strengthening as it approaches texas with lifethreatening conditions. This is the biggest hurricane to strike the United States in 12 years. Take a look at this image coming from the International Space station, expect today become a category 3 hurricane at some point this morning making landfall later tonight or early tomorrow morning, heavy rain and winds of over 110 miles per hour. We are plan to go evacuate. My concern is the flood. The water is coming rising, they are trying to get sandbags to sale seal my house and my fathers house. I horde that home depot stock water. Cheryl hurricane central tracking harvey expect today move east after it hits texas. We will get the forecast from janice dean. She obviously has been warning our viewers. This is going to be a tough storm. Lauren texas is home of third of the nations remine ris as the Oil Companies along the guadalupe klose are bracing for impact. Lets bring in phil plin, fox business contributor. Phil, so interested for your perspective this morning. We didnt see much warning for the hurricane. Were refiners able to prepare accurately . Phil i think over the last few years, refiners are better prepared than these types of storms. People i talked to are concerned about the story. Everybody thought it would be a gasoline event, shut down refineries and impact gasoline. Because the storm is so big and potential to move so slow, it could turn into an Oil Production effect. We could see pipes ripped off as it hangs over the gulf of mexico and even pruk in the shell areas of texas could be shut down. This is a very dangerous storm and very expensive. Lauren we are looking at a map, quickly, phil of refineries at stake here, can you describe the how many refineries and rankers and the like that we are worried about . Phil i mean, there are a lot. Its not just in texas, the possibility of 2 feet of rain could flood refineries across the coast. Lauren thanks, phil, i heard gas prices can spike 27 cents in the after math. Cheryl 185 miles out of the port of connor down in texas, very close to the coast as we are watching it. Lets bring in right now senior meteorologist janice dean, live in fox extreme weather center. We are obviously looking for the update in the National Hurricane center, janice. Janice it is still a category 2 and changes upon landfall as it makes landfall, strengthening before hitting land as a category 3. Thats dangerous when you have a strengthening storm thats about to hit land, the storm surge goes up, the winds go up, and the legacy of this storm obviously we are concerned about the hurricane, we havent had a category 3 hurricane hit the u. S. Land in 12 years and ike was the last hurricane to hit texas in 2008, the legacy of this storm is unprecedented rain. The storm is predicted to stall and bring in moisture for days well into next week, once we get the landfall out of the way, then this is going to be a an unproduce dented flood story, hurricane warnings in effect, you see the maroon from ports mansfield, into victoria and Corpus Christy, the reason why we are seeing a strengthening store is because its like bath water out here in the gulf of mexico and upper level winds are conducive for energizing the storm. Theres nothing to really tear it apart. Thats why as it continues to move towards the north, towards the coast, its going to intensify and the computer models this we are watching right now, all in agreement, the one thing i want to point out, once it makes landfall, it will sit and spin and bring incredible flooding that we have never seen before across the coast of texas, ladies. Cheryl really quick, basically because of the warm water in the gulf that owe talked about, once it gets into the state of texas, almost to the hill country, thats where youre going get real to rential flooding, is that what youre seeing this morning . Janice certainly the impact from the flooding from texas all the way up to louisiana. Some storm totals in louisiana are going to be epic as well, so, yes, everywhere along texas coastline and louisiana will be inundated with rain that they have never seen before. Cheryl janice, thank you very much for the update. Janice dean. Lauren epic is not a word that you want to hear when talking about the weat. Lets talk about another storm, its a storm in washington. Lets go to blake berman at the white house . Blake continued line from p from republicans all across washington is the president and the president leadership have shared goals but the president on thursday expressed displeasure in Republican Leadership in the form of debt ceiling, the president tweeting out thursday morning, i requested that mitch and paul tie to debt ceiling legislation into the popular va bill which just passed for easy approval. They didnt do it, so now we have a big deal with them holding them up as usual on debt ceiling approval, could have been so easy, now a mess. At the White House Press briefing Sarah Sanders put on uis on congress. Its our job to inform congress of debt ceiling and their job to raise it and congress and the Previous Administration have obligated trillions of spending and we need to make sure we pay our debts, we are still committed to making sure that gets raised. Blake did not give any sort of sign that theres any impending mez when he spoke at a town hall in boeing in washington state. Making sure we pay our debts, we pay our debts and we will continue to do so, its going to get done. Blake white house gave a twofold defense on the president s statement earlier this twheek he would be okay with Government Shutdown should there not be funding for border wall. Sanders said the wall is something he campaigned on and something he wants to see funding for. When she was pointed out the fact that the president no longer talks about mexico paying for the wall, sanders responded by saying, he hasnt said yet that they wont pay for it either. Back to you in new york. Cheryl more on that story coming up in the show. The biggest event this week for wall street is taking place this morning and jackson wyoming, hints about monitory policy when janet yellen speaks to central bankers, investors hope to learn more about the timing of the next interest hike. Perhaps we will see that unwinding start in september, we are also going to hear from Central European bank michael drogy today. Adam shapiro breaking news and youll watch all of that coverage right here on fox business. Lauren looking forward. Just hours after shareholders approved amazons purchase of whole foods its cutting prices. Cheryl tracee casual of casual afngo whats great for the consumers. Amazon isnt wasting any time shaking up district with 13. 7 billion acquisition of whole foods, amazon will begin slashing price on monday as the deal closes. The Amazon Prime Program will become whole Foods Customer rewards program and new deals, whole foods will be available through prime. Stocks after grocers dropped yesterday. Croger down more than 8 and walmart down more than 2 . Cheryl apple making base big announcements. Tracee is there anything ore than the iphone . Apple says there is. Apple tv getting big upgrade and report lid plan to go unveil a new apple tv set top box that will be available to stream for video and push Live Television content like broadcast and sports, this announcement is set to come along with the repeal of iphone 8 next month. Meanwhile apple will build a new data center in iowa, ceo tim cook says apple plans to build 3. 3 billion facility which is about 20 points outside of demys. The facility will create 50 permanent jobs. Lauren i retweeted one of your tweets yesterday, tracee, you said the winner, you know now who it is, she said im not going to work together. I called my work, you know what im not coming in again, thank you. Cheryl tell us about her. Tracee she does have an excellent story. The winner of that 758 milliondollar Powerball Jackpot is mavis wanczyk, bought on wednesday afternoon just as powerball fever was growing, she worked in overnight shift and friend read the winning numbers, she was shocked when she looked at her ticket and saw that all numbers matched. She will take a lump sum value of 443 million, thats before taxes, now the winning numbers included byrds and number four based on the size of group of relatives and friends that dine together on friday night. This friday night is going to be a celebration. Cheryl good for her. Lauren she will buy dinner for everybody. Tracee i think so, maybe moving forward every friday night dinner is on her. Cheryl all right, we have a lot coming up folks, we are watching a major storm for you, texas and louisiana are prepare to go get slammed by Hurricane Harvey. We have to wait and see what happens, we are prepared and we will do what we have to do. Cheryl south korean court sends samsung for jail, we will tell you what that means. Cheryl welcome back, navy divers have found the bodies of two sailors killed in the uss john mccain crash. 22yearold Kenneth Smith and 26yearold dustin, eight sailors remain missing at this hour. Well, lawmakers and Civic Leaders rallied in new york city Columbus Circle in support of Christopher Columbus statute that was there. Including mayor de blasio are considering moving controversial monuments like that of Christopher Columbus. He was found guilty of bribing former president in support of merger that helped him get more control over samsung. 49yearold executive has been defacto leader, obviously samsung having a rough year. Over to you. Lauren they certainly are. Wall street with keen eye on washington. Lawmakers prepare to go bebait tax reform next month. David nelson joins us now, good to see you, david. Yes, we can, republicans can get tax reform done, can they . Look, the window is pretty tight. We are coming up on the 2018 election cycle and thats problematic for both the president and paul ryan. Tax reform is complicated and sweeping tax reform, ie, 1980s reaganstyle reform will be difficult in the window that they have left. Maybe a Corporate Tax cut, we have a 35 marginal rate, not competitive, paul ryan is not correct, competing with the rest of the world thats 20 or even lower. Lauren big tax reform took two and a half years, this is something thats tough to do. Im hearing a lot of noise. Is there agreement among republicans on what the Corporate Tax would even be . Probably not. Theyre probable discussing this right now, i think 15 is probably a stretch, its probably a great bidding process that the president would like to start with but i think they would settle for 20 or 25, i think the bigger challenge is Chuck Schumer on the other side of the aisle and he will look at those on his side for anybody that might cross the picked line and support. This everybody wants to get this done. Lauren it boggles my mind that we cant get tax cuts through and this is something thats good for everybody. I want to ask you about the debt ceiling, we are seeing concerns bleed over the bond markets, those are higher, you dont usually see that . Thats a concern, its one thing to talk about a shutdown, thats certainly serious and nobody likes that, certainly markets dont like that, when you Start Talking about the debt ceiling, you dont school around the with good, faith and credit of the United States. Markets would react violently to anything like that. Lauren we have seen averages higher on the week, particular stock that is you like right now . You know, theres several, fang stocks, you look everywhere, theres good stocks even industrials being led by say a boeing, Great Aerospace company and leading defense contractor, every corner to have planet is a geopolitical hot spot. Theres some others as well. Even a royal caribbean, thats off the radar, Consumer Discretionary tapped into the baby boomer generation there, up 50 year to date. Lauren good tips, have a wonderful weekend, we appreciate your time. You too, thanks for having me. Cheryl cel down south it might be a pretty rough weekend, Hurricane Harvey slamming texas and louisiana, the storm expect today hit tonight or form. Live report on that. Also, theres a question for you, which companies let off the most employees this year . Its not just big retailers like macys and jcp pennys cutting job, well, the last is going to surprise you. Youre watching fbn am. What powers the digital world. Communication. Thats why a cutting Edge University counts on centurylink to keep their global campus connected. And why a Pro Football Team chose us to deliver fiberenabled broadband to more than 65,000 fans. And why a leading car brand counts on us to keep their Dealer Network streamlined and nimble. Businesses count on communication, and communication counts on centurylink. Cheryl we continue to watch Hurricane Harveys path. Residents to leave as soon as possible. Rob, good morning. Rob yeah, good morning. Hurricane harvey has really beefed up here in the last 24, 46 hours and now potential to be a very serious and major hurricane to hit the texas coast, the first major one since 2008 which was ike, right where we are now. 100 yards from the beach here trying to find cover from lighting bolts that we have been seeing dancing around us which is very uncommon for hurricanes but the outer bands and warm climate here has produced lighting so we have to take some cover. The real story will be initial in the Corpus Christy and port lavaca. Between houston and Corpus Christy areas. This thing will turn over to a water story, next four or five days it looks like as the storm can stall out and produce dumping rain. It could be 3 feet of rain on the dirty side of the rain, houston, galveston, area. Again, this is a very strong storm and it really has beefed up in the last couple of days and sent everybody to the stores, we went to walmart and the bread was gone, water was gone, people taking the storm seriously. Lets listen to a mom from the houston area as she bulks up for the potential of the storm. Water, canned goods, some fruits, lots of rob the other place that could see impact from the hurricane will be in louisiana. What its going to do is hit in the corpus crhisti area and just to remind you its been 12 years almost exactly since Hurricane Katrina and if you remember that season was terrible, it had wilma and katrina as well. Louisiana bracing for what the storm can do next and this has so much warm water thats spinning in and nowhere to go. We will wait and see as it continues to come in the storm. Cheryl why arent officials making evacuations mandatory . Rob evacuations mandatory, theyre mandatory to south of us, Corpus Christi and port lavaca area. The houstongalveston it is not and thats a great question as to why they are not doing it at this point. Right now the area is under Tropical Storm warning. 50 miles north of where the eye is supposed to hit which is down to Corpus Christi, we will keep an eye on that. If this keeps building up and more severe, the local officials and politicians change their minds and probably move towards a safe playing it safe. Right now they are advising people to get out of here but not mandatory. Cheryl i hope they that rethink that. Lauren Hurricane Harvey baring down on Oil Refineries in coast of texas. Gas prices already looking higher. We will take a look at the pain at the pump. Airlines, how theyre plan to go deal with this hurricane, stay with us specially if you have a flight. Youre watching fbn am today, were out here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects lauren breaking news this morning, Hurricane Harvey intensifying overnight and set to slam texas and louisiana, the