tv FBN AM FOX Business July 27, 2015 5:00am-6:01am EDT
tree into breaking news this morning. the bears are back in china. selling takes a hold again. shanghai composite down 8%. the biggest one-day drop since 2007. a live report from beijing. u.s. stocks under pressure ahead of the opening bell with a nasty week last week and now you see where selling on the monday morning. investors bracing for a big week of earnings and economic news. twitter and facebook on the cnet report this week. maybe we'll find out more about twitter search for a new ceo. janet yellen and federal reserve
policymakers talk about interest rates. also we report on the u.s. economy growth in the second quarter. we would give you a preview. asked by the comes the first u.s. retailer to sell the apple watch. goes on sale in august just in time for the holiday. we will have the details and breaking right now we have a $40 billion deal in the generic drug industry. the generic drug vehicle makes botox. i am dagen mcdowell in for sandra smith. welcome to "fbn:am" cover your first look at today's america to come to the latest breaking news and what to expect for your day ahead. breaking news right now this morning in the drug industry, teva pharmaceutical is by an allergen for $40.5 billion.
allergan will receive $33.75 billion in cash. have a shared value to a 6.75 billion. the new sending teva shares slightly higher in premarket trading. that says something. tablet expects the deal will add to adjusted earnings in 2016. in china can the stocks getting same as the bears come out of hibernation again. the major chinese index closing down within a percent. the worst one-day drop since 2007. to get a closer look at the asian markets may go to rachel ruble who is life in beijing this morning. reporter: good morning, dig in. the shanghai getting obliterated. filing a percent. the second largest drop grossing lobby for the 4000 level. this follows a three-week rally as the government says an unprecedented measures and shows
investors of the global market in many looking to cash in profits after the index rose about 4000 level. the shanghai composite is rebounded 16% since it hit rock bottom july 8th. of course that last half of that. the hong kong hastening with almost 3% for the rest of the asian markets looking relatively calm by comparison. japan's nikkei falling 1% and looks like we could be in for another volatile week over here in china. dagen: thank you. rachel ruble live in beijing. earnings season and posting with two tech names taking center stage. nicole has a preview of what we can expect from facebook and twitter. >> a busy week. let's kick it off with twitter. twitter reports after the bell tomorrow. also watch for facebook post in its results trading as on wednesday. that stock is 170 companies in
the s&p 500 that will report this week. more than a third of the companies reporting, a busy week indeed it the dow jones industrial average gave six of them this week including dupont, merck, pfizer, procter & gamble, pfizer and a friend. we will be watching how facebook and twitter do. apple, microsoft, yahoo! not so great. you mentioned earlier the ceo search for twitter. dagen: all this economic new spontaneous. we don't expect the policymakers to raise interest rates but you never know. nicole: that would be wild if they did something here. every member cruncher and this one from the durable goods for june will be out today. not expecting anything from the fact that we will see if they give us a glimpse into a lift
off. tuesday we will trade a housing prices, also consumer confidence and housing has been uneven we can say. the fed announced wednesday. we'll see what they say in the end. thursday second-quarter gdp will be huge. 2.6% increase would be sharp rebound in slight decline in the first quarter. the jobless claims last week we actually saw the claims numbers doing quite well dated back to 1973. we will have a lot to digest. dagen: let's get you caught up in global markets. you can see the major selloff in asian stocks. right across the board even the nikkei down 1%. over two euro plus check on the condition of the markets. a pretty steep selloff in france
and germany. 1% last there. we have selling here at home. dow down 20 points in last week the dow had its worst one-week selloff in percentage terms since late january. the market hard hit last week and this morning i spoke. in the meantime, the chrysler side of the record fine for mishandling two dozen recalls. u.s. auto safety regulators finding $105 million pay fiat chrysler agreed to buy back from customers more than 500,000 pickup trucks and the biggest action in u.s. history. owners of a million older jeeps with aromatic gas tanks will be able to trade in their vehicles and be paid to get them repaired. 75 people have died in crash related players. earnings at swiss bank ups jumping by 53% the second quarter compared to last year. the bank's posting a net profit
of $1.26 billion but helped by strong performance in equities trading about management. ups reported earnings a day early and could be linked figures reported by local swiss may be appeared britain's pearson, world's largest education company in talks to sell 50% stake in the economist of other shareholders shareholders of the weekly magazine. this comes days after pearson sale of the "financial times" to japanese media group nikkei for $1.3 billion. sales also come at a time and the company has blossomed big testing contest in the u.s. democratic residential candidate hillary clinton about her private e-mail speaker is a third batch is set to be released this week. >> i never sent or received any information classified at the time it was sent and received. what you are seeing here is a very typical kind of discussion to some extent to disagreement
among various parts of the government. dagen: in the meantime come internal government watchdogs issued warnings that hundreds of classified e-mails could be among them. separately clinton has accepted an invitation to testify in october before the house select committee on benghazi. syrian president charla side delivering his speech and giving his view of the ongoing war in his country. assad said the army has been forced to give up more important regions in its fight with insurgents. sirius host isis, which is targeting u.s. and led airstrikes, the assad government controls half of the territory. don't miss after the bell today. kurdish pop star had a love taking a isis will be on the show at 4:00 p.m. eastern time today. some sad news to report.
bobbi kristina brown, only daughter of whitney houston and bobby brown died on sunday. brown's death comes six months after being found unresponsive in a bad been her home and she was placed in a medically induced coma. police classified the case as a medical emergency after concluding no foul play was involved. brown died surrounded by family in duluth, georgia appeared she was 22. the bears come back to life in china. stocks have been the worst one-day drop in eight years. we have the impact they are and here in the u.s. and sports a big night for big copy. david ortiz on the boston red sox hit it out of the park. checking u.s. stock index futures. we wish we had better news. paper rad after a losing week last week that the dow down 28 points. your watching "fbn:am," your first look at morning markets and breaking news. ♪
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dagen: we match, so what. we look good. you are watching "fbn:am." in asia, nothing to smile about. 8.5% last time the shanghai. in europe you have selling across the board at the moment. and when france and germany with friends been your biggest loser down 1%. u.s. stock market features not looking much better. 31-point loss at the dow had its worst week. apple now a member of the dow
since late january. oil down, cool finding some love today. fifteen dollars about $1100. the yield on the ten-year treasury. if it's a sellout, watch the safety of u.s. treasury. the coast guard sent a boat belonging to two missing 14 of boys have been found off of florida's atlantic coast. the young fishermen commit. colin and austin stetson no had been missing friday after leaving the 19th single engine boat. nfl hall of famer joe namath, is offering a $100,000 reward in the search. turning to sports, boston red sox, david ortiz and in a big night to his career. big poppy had to three run homers. the red sox face the detroit takers 11 to one and they needed
it. the kansas city royals getting right-hander john getting right-hander johnny cueto in a trade with the cincinnati reds. receiving three minor league left-hander is. 20 games last season and seven games so far this year with a 2.62 era. talk about kyl busch's incredible comeback. he was drawn to the indianapolis motor speedway. when the backyard 400 to suit the weekend. he also won the race on saturday. kyl busch missed the first 11 breaks of the season because of a row could write like any broken my foot. he came back in may and he has won four out of the last five cup races. you see it in their case the brick. kyl and his wife had their first child. talk about an incredible couple of months. one of the busiest weeks ever for corporate earnings. we will hear from two of the big
tech names, facebook and twitter. twitter is still looking for a ceo. the apple watch now coming to its best buy near you. we will have more details on that checking u.s. stock index futures with right across the board adding to last week's losses. you are watching "fbn:am," your first look at morning markets and taking names. ♪ you focus on making great burgers, or building the best houses in town. or becoming the next highly-unlikely dotcom superstar. and us, we'll be right there with you,
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vengeance and china. selling takes hold again. shanghai deposit down with an 8% the biggest one-day drop since 2007. a live report from beijing. u.s. stocks under pressure ahead of the opening bell. the dallas tumbling the most it has in percentage terms since late january. you have more selling to start a new week. investors are bracing for some big earnings and economic news. twitter and facebook among the standouts reporting earnings this week and we might find out more about twitter search for a new ceo. on top of all of that, jamie galland of federal reserve policy makers meet to talk about interest rates. also a key report on how fast or slow the u.s. economy was growing in the second quarter. we will tell you what to expect. best buy becomes the first big u.s. retailer to sell the apple watch. more details on that. breaking news right now. a $40 billion deal that the drug industry. teva pharmaceuticals by an
allergan, maker of botox. good morning. i am dagen mcdowell and for sandra smith. sandra smith will be at the top of the hour. i am joined by nicole petallides. poke a two "fbn:am." the latest breaking news and what to expect for your day ahead. the china stocks are getting slammed. the major chinese indexes closing down more than 8%. for a closer look, we go to business reporter rachel rupe a life in beijing. good morning, rachel. reporter: the bottom falling out of the shanghai composite plummeted in trading. the index closing down 8.5%, largest drop since 2007, largest drop since 2000. we saw 75 stocks fall for every one that rose.
the index has been on the ballot the last three weeks at the unprecedented intervention measures by the government. today shows investors are not confident in the market and many looking to cash in after rose back above the 4000 level. the hong kong hang seng continued with its row falling 3%. by comparison japan's nikkei and the kospi were relatively calm, falling 1% and the costs become one third of a percent. that is what is happening in beijing. back to you. dagen: rachel, thank you for that. a big deal the drug industry to tell you about. teva pharmaceuticals by allergan for $40.5 billion. allergan will receive $43.75 billion in cash and have shares valued at six and three quarters billion dollars. the new sending shares sharply higher and premarket trading.
it will add to adjusted earnings in 2016. earnings season in full swing this week with two major tech names taking summer stage. we have a preview of what we can expect. nicole: exciting news indeed. stocks with the big corporate names will release the result. let's kick it off at twitter. twitter reports after the bell tomorrow. watch for that. facebook post results after trading on wednesday. the stock is 172 companies in the s&p 500 that will report this week. that works out to more than a third of the benchmark index. the dow jones industrial average, six names reporting. dupont, merck, procter & gamble, pfizer, a lot to digest overall in these earnings. when you talk about facebook and twitter. we have heard of apple,, yahoo!.
we'll bring it in and see them on the news to the upside embraced the trend a little bit. dagen: and economic news, what do you expect? nicole: let's kick it off on monday. durable goods and that will be kicking it off today. a two-day meeting starts on tuesday, goes into wednesday and you have case shiller home price is and also consumer confidence. housing back and forth with the housing market overall. thursday second-quarter gdp will be so very key. estimates for an increase of 2.6% which would be a sharp rebound from the decline we saw from the first quarter. everybody keeps a keen eye on gdp. we saw that fall to seven days in consumer sentiment on friday. see how you really feel it and get a feel of that. china with a strong dollar, commodity selling the way they've been. rocky tech earnings.
oil moving lower, pulled a 5.5 years lows. dagen: you can see it in the global market. nicole: yeah, shanghai down 8.5. dagen: nicole mentioned the 800 asian stock market. you have some selling listings contained at the moment. back in positive territory. we've got almost 1% on the cac in france. stock market futures again the selling seems to be contained with a 25-point loss at the moment. a rough week last week. the dow surely pulled down by apple having its worst point loss since late last year since january. before you head out the door, a look at your monday forecast with fox meteorologist maria molina. reporter: good morning, hello everybody at home. several areas of unsettled weather across the nation and
across florida at the boundary producing additional heavy rainfall throughout the day today and possible flash flooding. areas from nebraska, kansas after the dakotas. you are looking at severe weather with large hail, damaging winds and isolated tornadoes. tomorrow it moves eastward and will bring additional severe weather possible across portions of the midwest. tomorrow across new england, travel could be an issue with additional showers and storms in the forecast. across parts of the midsouth in louisiana, extreme heat is a big issue. index values forecasted up 110 degrees. heat advisories in effect and heed warnings as well because of the excessive heat in place in those areas. currently temperatures in the 70s and 80s across texas, louisiana and up into the mid-south and the northeast market this morning. temperatures in the 70s as we head into this afternoon take a look at numbers out here.
your actual forecast temperatures factoring the humidity and that is why we have concern for a lot of feet across parts of the plains. let's head over to you. dagen: thank you, maria molina, our meteorologist at fox. take care. coming up, best buy, it is coming. the first big u.s. retailer to sell the watch. we are the details and they might find out how twitter ceo search is going. also earnings results from facebook. one hundred dollars a share. taking u.s. stock index futures, where friday loss on the doubt but there is no green to be seen. you are watching "fbn:am," your first look at morning market and breaking news. ♪ these two oil rigs look the same.
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three major market gauges in the u.s. all in the red this morning. the dow down 33 points after selling more than 500 points last week. the worst one-day percentage fall since late january. checking key commodities, oil and gold your two biggies. boiled down ever so slightly. old feeling that today up almost $13 an ounce. people worried about the global economy, stocks, heading for gold. apple fans can get their apple watch fixed in a brand-new place. nicole has the story for us. nicole: and excited woodforde tech careers. best buy will be the first major u.s. retailer to offer the apple watch in august. a month after apple began selling the watch, the company says it will offer the product at major chains best buy. apple watch will be available at more than 100 best buy stores in the u.s. and spent over 300 helpless before the holiday shopping season. they won every single person to
ask for an apple watch for the holidays. apple has made it available to a few high-end boutiques to push the wash as a fashion accessory. turning earnings announcement with ceo tim cook said sales were strong and meeting expectations. they didn't say the actual sales for put into a basket so the iphone is really their cash cow when they were a little vague how well they are doing with the watch. some people thought they didn't necessarily do as well. dagen: and will be a big if people gave. nicole: i think there's a lot of people that wanted. the cheapest is around 350. if you go up to gold, 10,000 or 18,000. kick it off with 400 bucks. dagen: that sounds more my speed. thank you, nicole petallides. suffering the worst one-day drop in eight years will run down the numbers for you.
dagen: breaking news this morning. the bears are back with a vengeance in china. the shanghai composite down 8%. the biggest one-day drop since 2007. we have the latest details. u.s. stocks under pressure ahead of the opening bell. losses across the board coming off one rough week for u.s. stocks. investors bracing for major week of earnings and economic news.
twitter, facebook reporting earnings this week. we could find out more about twitter search for a new ceo plus gna yellen at the federal reserve to talk about the future of interest rates. how fast or slow the u.s. economy grew in the second quarter. we will give you a preview. best buy becomes the first big u.s. retailer to sell the apple watch. those go on sale starting in august. will it be a must-have gift. we try to answer. rake in right now at $40 billion plus deal in the generic drug industry. teva pharmaceuticals bind botox maker allergan. i am dagen mcdowell and four sandra smith. i am joined by nicole petallides. right here right now. welcome to "fbn:am." the greatest breaking news and what to expect today i had. the bears are back in charge in
china. stocks in china diving 8% the biggest one-day drop since 2007. the selling came as investors cheered the curbing of buying of blue chips.and could even be testing whether the market can support itself. clearly it could not today. the selloff in china rattled other markets in the region. you have losses in japan, south korea, hong kong and of course china. more consolidation happening in the drug industry. teva pharmaceuticals bind allergan for $40.5 billion. sent by the perceived $33.75 million in cash was teva shares at six and three quarter billion dollars. spending sharply higher in premarket trading. sadsack says it expects the deal will significantly add to adjusted earnings next year. earnings season in full swing this week with two tech names
taking center stage. nicole has a preview of what we can expect. nicole: the biggest names will release the results. twitter reports after the bell tomorrow. facebook poses results on wednesday after trading closes. 172 companies in the s&p 500 will report this week at that works out to more than a third of the s&p 500 companies. when you talk about the doubt 30, six of the big guys reporting. dupont, merck, pfizer, chevron, exxon can any of these big market moving events. earnings season also twitter and facebook will see how they fare compared to apple, microsoft, yahoo!. jack dorsey, the interim ceo will see what he has to say. kim kardashian and, if anyone wanted to add it to the sin was enabled to she is making for her. she said she would like to be able to add it. he said he will look into it.
dagen: you can add and superimpose. she is such a twit that she has no leg punctuation at all. how many tries do you need. speaking of earnings, there is going to be a lot of economic news coming out this week including the federal reserve policymakers. for us it revolves around janet yellen, for the rest of the world can kardashian in. nicole: let's kick it off with what we will see. durable goods orders with three years watching machine. the meeting kicks off. that'll be tomorrow. the fed not expected to raise rates. we will see officials can give us a hand when am i pulled the trigger. tuesday will bring in the report on home prices. those are somewhat event.
we look. we will get the real announcement wednesday with the pending home sales. thursday second-quarter gdp is so huge. an increase of 2.6% could be a sharp rebound like the decline we saw in the first-quarter gdp with with a big number for us. we got some good news and we would get to your feeling in your sentiment friday. we will digest all of that in all those earnings. dagen: thank you so much, nicole. global markets in asia. you can only point to your least target market with your coffee and south korea. over to europe it has been a little bit next that now you have read across the board. england, france and germany all nowhere. picking up in france and germany with losses of more than 1%. 45-point loss on the dow right now. coming off a terrible week, apple was a disappointment. you can at the blue chips and
bread last week. worst percentage loss since late january. fiat chryslers lad with a record fine for mishandling to dyson recalls in putting millions of vehicles. u.s. auto safety regulators finding $105 million. the chrysler agreeing to buy back customers more than half a million pickup trucks in the biggest such action in u.s. history. owners of more than a million older achieves with rear gas tanks will trading vehicles are being paid to get them repaired. 75 people died in crash related fires. earnings of swiss bank jumping by 53% in the second quarter compared to a year ago. the bank posted a profit of $1.26 helped by strong performances in equities trading above management. ups reported earnings a day early fall and late figures which were reported by local swiss media. roche largest education company
in talks to sell 50% stake in the economist to other shareholders at the weekly magazine. this comes days after pearce and sales of the "financial times" to japanese media group nikkei for $1.3 billion. the sale comes at a time in the company has blossomed a contracts in the u.s. kind of expected they would move to get rid of this stake in the economist. maybe not this quickly. moving on to u.s. politics, democratic presidential candidate hillary clinton speaking about her private e-mail server as a third batch of e-mails are set to be released this week. >> i never sent or received any information that was classified at the time it was sent or received. what you are seeing here is a very typical kind of discussion to some extent to disagreement among various parts of the government. dagen: meanwhile, internal government watchdogs issued
hundreds classified e-mails could be among them. clinton has formally accepted the invitation to testify in october for the house select committee on benghazi. syrian president bashar al-assad delivering his first public speech in a year giving his fear of the ongoing war in his country. assad said they been forced to give up more regions and fight with insurgents. syria host a says which is targeted in u.s.-led airstrikes. the government now controls a little less than half as serious territory. don't miss after the ball kurdish popstar happy love will take on isis. be on the show of 4:00 p.m. eastern time on the fox news network. bobbi kristina brown, the only daughter of singer whitney houston and bobby brown died on sunday. brown comes six months after being unresponsive and a bathtub in her home and placed in a medically induced coma.
police classified the case is a medical emergency after no foul play was involved. granddad surrounded by her family in duluth, georgia. she was just 22. there is a ladder while in china. stocks getting slammed after their worst one-day drop in eight years. we will break down the numbers. in sports, nascar driver kyl busch celebrated a major date or in indianapolis. take the brakes. checking u.s. stock index futures we have read across the board. you are watching "fbn:am," your first look at morning markets and breaking news.
dagen: we want a new product on global markets. we wish the news is better. issues sign across the board the biggest loser the shanghai market 8.5% loss there. all of the markets pulled nowhere. in europe, stocks now down across the board. england is a very little trying to hang onto some games of the cac and the dax and germany lower. u.s. stock market futures for defiant boss after a bruising week last week. the coast guard in the meantime saying that a boat belonging to missing 14-year-old boys has been found off of florida's atlantic coast. the young fisherman have been missing since friday after leaving in their 19 for single-engine bow. nfl hall of famer joe namath, a
neighbor of one of the boys announcing he is offering a $100,000 reward in their search. turning to sports, boston red sox david ortiz with another six nights in his career. big poppy has 23 run homers driving in a career-high seven runs. the red sox beating the detroit tigers 11 to one and they needed it. kansas city royals getting johnny cueto in a trade with the cincinnati reds then returned receiving three minor league left-handers. 20 games last season. seven games so far this year with a 2.62 tra. kyl busch's incredible comeback continues at the indianapolis motor speedway winning the brickyard 400 to sweep the weekend. also when the secretary race on saturday. he broke his right leg and his
left foot in an accident early in the year. he returned in may and has won four out of the last five sprint cup races and his wife gave it to their first child about two months ago. speaking of birth, happy birthday mama, i love you so much. you're the greatest greatest woman on planet earth. it's been a rough year, to keep fighting. the fire had out the door, a look at your monday forecast with fox meteorologist maria molina. reporter: good morning. happy birthday to your mom. let's look at weather conditions across the nation. a lot of weather across parts of the southeast. price of florida but the possibility for localized flash flooding in parts of the northern plains for severe weather a concern with large hail, damaging winds and the shift eastward as we eastward as for having tomorrow across parts of the midwest. more severe weather possible for two days.
parts of the south and into the mid-south we have heat advisories in effect because he'd index values make it into the triple digits. concern for excessive heat. in the 80s and 70s widespread out there. you might as well fulfill very maggie and thick air mass in place eating things out. high temperatures make it into the upper 90s in triple digits for some of you out there. 82 degrees for the high temperature in new york city. we do have some rain in areas we have to deal with across parts of the west. temperatures a lot cooler across the northwest. i forecast in the 70s with parts of montana down into wyoming and western colorado is the elevated fire danger in place throughout the day today. dagen: thank you so much for that in thank you for the birth it wishes us well. maria molina, a meteorologist at fox. global market action before we handed over two mornings with maria.
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dagen: finality or global markets everybody. we wish the picture was better but it is ugly. a .5% on the shanghai dare. the worst one-day loss in 2007 in all of thousand seven and author markets in asia lower. over to europe you have some selling, pretty significant telling picking up steam 1.3% loss in france and germany.
here in the united states you also see the selloff seeming to pick up about double the loss on the dow from where we started this hour. 56-point loss there. oil you have seen selling very down about a quarter -- 29 cents a barrel. again, maybe not worry about the global economy. goldstein is some love, people looking for safety. over to your currency commit to your opinion against the dollar now 110 and change. your 10 year treasury expect to see buying there. people nervous in addition to gold. right now let's go to sandra smith, "mornings with maria." we can't wait for the show. sandra: great watching it this morning. we will be seeing you in an hour. for the time being, good morning, everyone. it is monday. i am sandra smith and for maria bartiromo. with me for the harris fox business joe lang cap.
proper ben battenberg also joins us this morning. truly break in ski breaking news. china stocks in a major selloff overnight. the shanghai index down 345 points, nearly an 8.5% drop. this is the sharpest decline since 2007 and was prompting -- prompted concerns the government there may not be able to stem the selloff at the shanghai right now about 28% from the high in june. u.s. stock owners not overly concerned just yet. the selloff in china and the futures market showing losses slightly to the downside. a multi-billion-dollar steel overnight. allergan completed a deal to sell global generic drug business to teva pharmaceuticals. the total value of the deal
$45 billion receiving almost $34 billion in cash and 7 billion in stock. president obama continuing his tour through africa this morning the president left his father's homeland of kenya sunday after challenging the country to tackle corruption, sexism and division. he's in ethiopia right now where he's expect you to speak with the press there and we will bring you those comments live when they have been. >> mr. president is beneath this paper credibly in recent times it's become a forum for parties and messaging nne grandstanding revenue rather than serious debate. sandra: republican senator orrin hatch of utah among those taking on republican colleague ted cruz. upset with the presidential candidate for taking the floor on friday and said senat
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