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tv   FBN AM  FOX Business  October 11, 2017 5:00am-6:00am EDT

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it's good to see you. that's it for us tonight. we thank you for being with us. laura ingraham and pastor robert laura ingraham and pastor robert lauren: breaking news this morning, stunning new allegations of sexual assault including charges of rape against disgrace hollywood mogul weinstein. cheryl: 17 confirmed fatalities, a live report moments away. lauren: president trump pitching tax reform in pennsylvania today and he's not giving up on health care either, saying he will use the power of the pen to do what congress isn't. cheryl: records all around, wal-mart pushing dow to a new high yesterday, take a look at the futures barely pointing to lower wednesday.
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lauren: president of catalonia backed off of bid from independence, stock soaring. cheryl: kospi up another 1%. fbn:am starts right now. lauren: it is 5:01 a.m. wednesday, halfway through the week. i'm lauren simonetti. cheryl: good morning, i'm cheryl casone, the markets again records across the board. lauren: morgan stanley is calling the rally epic. enjoy it, check the 401(k). we have new allegations to tell you about against harvey weinstein, actress paltrow
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accusing that he harassed them and women of rape, reportedly in sting operation, weinstein was aggressively trying to persuade and i tat alian model to come into his hotel. >> i don't feel comfortable. >> i'm not going to do anything, i swear on my husband. >> i'm feeling very uncomfortable. >> come in now and you if you want to leave -- >> why you touched my breasts? >> i'm sorry. >> after about 30 minutes he asked to excuse himself and go to the bathroom. he returned in nothing but a robe with a front open and he
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was butt naked. cheryl: weinstein spokeswoman issuing a statement, any allegations of nonconceptual sex are denied by mr. weinstein. meanwhile president obama breaking silence of democratic donor, michelle and i have been disgusted by the recent reports about harvey weinstein, any men who degrades women in such fashion needs to be condemned and held accountable regardless of wealth. hillary clinton also coming forward. meantime weinstein's wife georgiana leaves him, my heart suffers for all the women that suffered tremendous pain because of unforgivable actions, gweneth
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paltrow, many, many, big hollywood actresses are now coming out and saying this absolutely happened. lauren: tmz reporting that he's heading to europe to go to sex rehab facility. this is hard to recover from. let's move on to the wild fires, we continue to follow them. deadly wild fires, at this hour 17 people confirmed dead and 200 still missing, adam housely on the ground right near his hometown. adam, what's the latest where you are, neighborhoods totally destroyed. >> yeah, i saw an area pictures of santa rosa, two counties over, 25,000 acres, the fire, over my shoulder it was flaring, it's starting to die down a bit. you can see the ambers go in the air, there's no wind which is
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good. you can see come up without the even. imagine if the wind was blowing, i shot some video last night before sundown of this fire coming from napa and you can see the wind blowing and blew the fires three quarters of a mile away from where it was burning, basically it's called spotting. firefighters stood back and did what they did to protect homes. i was driving in this area, right next to napa, i was driving along and saw people struggling with cows and pulled the car and helped him get cars into the trailer and off the property so they can be safe from the flames, you saw a lot
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of the horse trailers trying to get them out as people were rush to go get away from here and take them to solano county grounds. it gives you an idea what people are dealing with right now. i know at this hour, there are still 17 fires in northern california but three ones are the most active, at least what we have been told in the last hour or two, this one here, 15 miles away around the town of sonoma, new evacuations in area boy hot springs. all the vineyards and wineries are. that area is being evacuated. a fire burning in napa county just to the west, my hometown and that fire has had evacuations, dry creek valley areas, the fires are zero percent containment. we are hoping those forecasts are wrong, back do you guys in
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new york. lauren: i know it's early, but the livelihood of the area is the grapes and crops, how do you think is going, most of it has been harvested, are you hearing anything about destruction of the vines? >> well, the vines themselves don't burn very easily, in fact, if you see vines burn that means that fire was burning really, really hot and really fast because they are narrow, they are very wet and green. what it has done is the industry up here. people lose their houses, that's the worst in their lives, that's obviously what we care about the most, once that's taken into account, the industry up here as you mentioned, you have the wine industry itself, you have restaurants, significant number of restaurants, hotels, wineries. this is the busiest time of the year, the end of harvest, there's still a lot of vineyards that have grapes hanging in the vines. in some cases, 4,000tons.
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you're talking about nearly $100,000 sitting there and you want to get those off into the wineries but without power, with the smoke and with all the other security situations, making sure your own home survives has made things difficult for the entire industry. that's across several counties. we are talking about billions of dollars here in losses, guys. lauren: all right, adam housely, thank you for the update this morning. we appreciate it. >> all right. cheryl: devastating what's happening in california. moving to the east coast, president trump is pushing hard, well, once again for tax reform. he's going to be visiting harrisburg, pennsylvania, blake berman is in the white house with the latest efforts to overhaul the nation's tax code. blake: we know this is a president that loves negotiation and appears that the tax reform bill fits in the mold speaking on tuesday from the white house, the tax plan is currently undergoing some tweaking.
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>> people want to see tax cuts, they want to see major reductions in their taxes and they want to see tax reform, that's what we are doing. we will be adjusting a little bit over the next few weeks to make it even stronger. >> however, press secretary sarah sanders saying that whatever adjustments priorities still remain and till the same. quote, i don't think so. no. the president did continue this verbal tit for tat by tweeting, failure new york times was made to sound a full and that's what i'm dealing with. sanders contended that the president is not putting off colleagues he needs to get his legislative agenda passed. >> i don't think he's alienating anyone, i think that congress alienated themselves by not actually getting the job done that the people of this country elected them to do. blake: people have spoken both
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on white house and do not feel back and forth between president and corker have impact on long-term tax reform. as one republican put it to me, it's not like this will help in any form either. back to you in new york. lauren: interesting, before heading to pennsylvania, the president is going to have a meeting with canadian prime minister true due after he threat to walk away from nafta. live 5:45 a.m. eastern time. cheryl: panel coming up later talking about tax reform. all distractions seems to be halting the true discussion, let's get tax reform forward. they just can't do it. we have a fox exclusive to tell you about this morning, new report finds iran nuclear program has far from halted. the national council of iran telling fox newses secret sites of development have been
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revealed this comes as the president is expected to ditch the 2015 nuclear deal with iran very soon. congress has decided whether to reimpose pre2015 sanctions on tehran, that's the money, lauren. also american businesses that signed deals -- lauren: they started to open up businesses to multinationals. we will see. coming up supreme court hands president trump a major victory in his travel ban order and you've heard a test drive, how about a test buy, coming up
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cheryl: welcome back, let's get you caught up on what's happening now, two top officers of uss john mccain have been fired following fatal collision in august. the accident happening in singapore, ten sailers died, five others injured. supreme court backing away travel ban, it's been replaced by a new version, basically all of this in the controversy back
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to the starting block. and remember the utah police officer who was caught on video arresting a nurse because she refused to allow a blood draw, well, he has been fired. salt lake city officials detective violated department policies when he arrested nurse and dragged her out of the hospital, she was screaming, this happened back in july, obviously a lot of controversy over this because she was doing her job and the hospital backed her up. this is our policy, i can't break the policy. lauren: now he's out. png says narrowly lost bid for a board seat at the company but the activists, investors saying not so fast. cheryl: tracee carrasco with the story, good morning. >> won't be sitting at the board of proctor and gangle, p&g said a vote tally showed directors had been reelected but would
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wait before accepting defeat. he will appeal the decision. lauren: this is a maker of tide and bounty and they might have added pressure to get that turnaround plan going. cheryl: it's interesting, two different ideas about who proctor and gamble should be. let's go to bump stocks, now lawsuit time; is that right? tracee: yes, a lawsuit seek to go represent the victims of the las vegas rampage filed against makers of so-called bump stocks which the shooter paddock use today achieve automatic rate of fire. proposed class action accuses manufacturers of negligence. three nevada residents who were at the festival does not involve the injuries that of hundreds of people who have suffered or people of 58 people that were killed. lauren: there's an automaker that forget about test drive, how about a test buy.
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tracee: this is a good idea. hyundai, going to make pricing more transparent. hyundai say that is participating dealers, that's the key, will list the actual asking prices for the specific vehicles on their websites and you don't have to come in for a test drive, hyundai is going to let you schedule a time to do a test drive at home or outside, maybe your office, you'll be able to do all of the paperwork online and it's offering a three-day window to return the car, if you don't like it, again, this is only at participating hyundai dealerships, it will make things a lot easier when you buy car. lauren: they're competing with tesla. cheryl: pretty soon we are going to amazon and buy a car. tracee: it'll show up outside the door. thank you. cheryl: all right, we have a lot more coming up. you're going love the story, richard branson says he's just months away from sending people into outer space and still no
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rain in sight, there are some cooler temperatures coming to the north, fox senior meteorologist janice dean has the forecast. you're watching fbn:am. [fbi agent] you're a brave man, mr. stevens.
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your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible. [hero] i'll take my chances.
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lauren: richard branson is feeling confident about galactic tour. branson estimate it is cost
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around $250,000. cheryl: that's it? lauren: commercialization of space travel. cheryl: i think 250 is a pretty good deal. lauren: i kind of thought the same thing, a quarter million dollars and you go to space. cheryl: pull together our money. no rain and no relief in sight for raging wild fires in california. lauren: janice dean tracking it all, good morning. janice: good morning, ladies, unfortunately we still have red flag warnings in the areas where the fires are burning across sanoma, ongoing today, fire weather watch for southern california. no rain in the forecast and we have the system north in the area that will cause gusty winds, red flag warnings in the effect of spreading of wild fires and igniting wild fires, temperatures not excessively warm but humidity is low and it's going to be breezy here and there's no rain in the forecast at all. the system is to the north of
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them and it's not -- they're not getting any moisture into areas that really need it unfortunately. past six hours again you can see zero of threat rainfall over the next five days, we do have a cold front that's marching across the upper midwest and that's bringing showers and thunderstorms here and that cold front is actually dropping temperatures today across the northeast so it was 80 yesterday here in new york, it'll be a refreshing 72 today, still very warm across the southeast and the south, but cooler than average temperatures behind this front, i have to tell you, ladies, we will see the temperatures bump up again as we head into the weekend, little taste of fall and we are right back to summer time. cheryl: i feel like i missed so much of summer i'm fine with your forecast. janice: i like that, very optimistic. lauren: coming up, here is the million dollar question. how do you get rid of a hangover. [laughter] lauren: if we only knew about
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this in college, hangover free proseco and apparently it's guarantied and apple teaming up with steven spieled berg for first tv project. the market today pointing slightly lower after yet another recording-setting close yesterday, the 47th of the year. we will be right back. ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it?
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♪ yes you can ♪ well i'm gone ♪ can i kick it? ♪ to all the people who can quest like a tribe does... ♪
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no, i'm scheduling time to go to the bank to get a mortgage. ugh, you're using a vacation day to go to the bank? i know, right? just go to lendingtree dot com. get up to five loan offers to compare side by side for free. wow, that's great. wait, how did you get in my kitchen? oh, i followed a raccoon in through your doggie door. [gasps] get a better mortgage on your schedule. not the bank's. lendingtree. when banks compete, you win. just think of 'em as a big cat. with rabies. cheryl: breaking news this morning stunning allegations of sexual assault and misconduct including charges of rape against disgraced hollywood mogul harvey weinstein. lauren: wild fires ripping through california's wine country, 17 confirmed
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fatalities, we have a live report moments away. cheryl: president trump pitching tax reform in pennsylvania today and he's not giving up on health care either saying he's going use the power of the pen to do what congress can't. lauren: wall street is watching, records yesterday, wal-mart pushing to a new high, rallied 4 and a half percent. futures slightly lower. cheryl: president of catalonia backs off from independence of spain, stock is up. lauren: japanese stocks hitting highest level in 20 years, the nikkei right near the 21,000 mark in south korea, the kospi up another 1%. fbn:am starts right now. cheryl: coming up 5:30 a.m. in new york, wednesday october 11th, good morning, everybody, i'm cheryl casone. lauren: good morning, i'm lauren simonetti. thank you for joining us.
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cheryl: we were talking about that in the break. lauren: that's so unfortunate. cheryl: first we want to get you to breaking news developing overnight, disturbing new allegations against harvey weinstein, actress paltroy accuse weinstein of harassing them and piece of audio captured during nypd sting operation, persuade a model to come into his hotel room in 2015, listen. >> i don't feel comfortable. [inaudible] >> employees, i'm not going to do anything i swear on my children. please come in. i'm a famous guy. >> i'm feeling very uncomfortable now. >> come in now, one minute, if you want to leave -- >> why did you touch my breast? >> i'm sorry. i'm used to that.
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>> you're used to that? >> yes. >> but i'm not used to that. >> after about 30 minutes he asked to excuse himself and go to the bathroom. he returned in nothing but a robe with a front open and butt naked. lauren: tmz is reporting that weinstein is heading to europe for sex rehab, spokesperson issuing statement that anialses of nonconceptual sexual denied by mr. weinstein. meanwhile hillary clinton finally days later breaking silence about democratic donor, she said the behavior described by women coming forward cannot be tolerated, courage is critical to stop this kind of behavior. she did not say if she'd give any of the donations back and former president obama said, michelle and i have been disgusted by the recent reports about harvey weinstein, any man
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who demeans women in such fashion needs to be held accountable regardless of wealth or status. weinstein's wife giorgina chapman is now leaving him, my heartbreaks for all the women who have suffered tremendous pain because of the unforgivable actions, they have two children together. cheryl: there was an op-ed in the new york times that talked about the silence of men in hollywood and she said that, you know, she heard the stories and had been known for years and years that weinstein was doing like this but actually calling up the men of hollywood saying, you make movies about women and empowerment but you actually don't empower women yourself and why have you all stayed silent for years. lauren: the sound bite was from 2008. cheryl: troubling story, we are also breaking this morning the death toll of massive wild fire in northern california, now 17. the monster fires burned more than 200 homes and businesses since sunday. more than 180 people injured,
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nearly 200 residents reported missing in sanoma county alone. >> resources are exhausted statewide, resources are being brought in from out of state. we are doing the very best we can with the number of bodies that we have and the number of resources we have to prioritize the parts of the fire to try and first protect lives and secondly try and save homes. lauren: there's also wild fire in southern california, that's 40% contained but the fire destroyed 14 structures since monday. evacuation orderers in the region have been lifted but the fires have taken a toll, at least 17 deaths confirmed including the elderly couple. did you see that? they were married 75 years. cheryl: they were 98 and 100 and they couldn't get out. lauren: couldn't survive. cheryl: we will hear more stories unfortunately.
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well, president trump is going to continue to push for tax reform, he's going to visit harrisburg, pennsylvania to deliver a speech on a tax plans today. adam shapiro in washington with the latest efforts to overhaul the nation's tax code. >> good morning, everyone on capitol hill starts the day awaiting a potential tweet from president trump and yet going after senator corker. on tuesday the president tweeted this, the failure new york times with little corker was made to sound a fool and that's what i'm dealing with. the new york times points out that corker knew the conversation but that they too were recording for accuracy. well, president had this to say. [inaudible] >> i don't think so. no. i don't think so at all. we are well and away. the people in this country want tax cuts, they want lower taxes.
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>> president trump has allies on capitol hill like representative zeldin from new york. >> for any senate republican trying to decide whether the president has struck their ego to get to yes, they are to be reminded they're not there to get their ego stroked, they are there to represent their state. >> senate is not in session this week, they cannot vote in 2018 budget resolution next week and they need to pass that if anyone is going to move to tax reform. stay tune. lauren: before heading to pennsylvania today the president will have a meeting with canadian prime minister justin trudeau at the white house the day after he renewed threat to walk away from the north america free trade america. starts at 5:45 eastern time. cheryl: must watch tv when the president speaks. a new report finds iran's
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nuclear program as far from halted. the national council of resistance of iran telling fox news secret sites have been revealed. this comes at president trump is expected to ditch the 2015 nuclear deal with iran, maybe this week, maybe next, congress then would have 60 days to decide whether to reimpose sanctions on the country similar to what we saw before 2015. lauren: yeah. wal-mart wants to be your go-to groceries. cheryl: tracee casual aivelgo joins us with more on that. tracee: wal-mart plans to add 1,000 curb-side grocery pickup locations for online orderers by 2018, double the current numbers of sites, wal-mart anticipates digital sales next year will rise about 40% and they're really hoping that this service will bring other customers back
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other times, get them to buy more. cheryl: what lauren said earlier, all online. lauren: groceries is the hook. cheryl: that's a good one, though. apple teaming up with one of the most famous directors in hollywood? tracee: yes, 1980si-fi series, amazing stories for dive into original tv programming, the series will be produced by apple by spieled berg and nbc universal television unit and amazing stories originally ran on nbc, $5 million an episode. lauren: that's crazy. i don't remember amazing stories. it competed with murder she wrote. i remember that. [laughter] lauren: netflix says has seen success with similar genres recently, i guess -- tracee: big
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one. lauren: all right. we were talking about this earlier, there's a way to drink without getting a hangover. tracee: we hope, maybe. [laughter] tracee: starting today grocery stores will call what they call hangover free prosecco which is supposed to stop you from feeling awful the next morning. apparently using fewer sul feets which has been linked to hangover. only available in the uk right now, the big question is will it be available in stores in the u.s. cheryl: is hangover guarantied or the nonhangover guarantied. tracee: probably. cheryl: if i drink three bottles and i'm hungover. lauren: they have time to bring it to the u.s. tracee: this is good for the holidays. cheryl: great idea. why didn't i think of that? all right. coming up u making the pitch,
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president donald trump on tax plans, we have the panel coming up. military options, the u.s. flew two strategic bombers over the korean peninsula. you're watching fbn:am.
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lauren: good morning, let's get you caught up on what's happening. the u.s. flexing military muscle flying two bombers over korean peninsula yesterday and firing air ground missiles as well all part of exercise with korea amid reports that president trump is considering a visit of the demilitarized zone. in spain catalán separatists are delaying claim of independence to the country. catalonia's president wants to give talk a chance, he's being political. spanish government is holding cabinet meeting on what the next step should be and shown little interest in negotiations. that region is a fifth of the spanish economy that wants to
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succeed. 11 million were compromised during data theft. assessed by hackers who also took vital personal information including social security numbers of potentially, potentially 145 million americans basically half of the country, cheryl. cheryl: really glad the irs gave equifax the contract. the new contract. amazing. all right. well, let's stay in washington because all the fun continues today. president trump is going to be hitting the road later on, pushing his tax reform plan in pennsylvania. he will be giving the speech tonight, what can we expect and is the debate going to continue. let's bring in contributor kristin. >> good morning. cheryl: kristin it's all about the politics at this point. we can go through bullet points, a lot of people like the corporate tax rate cut, they like the simplification of the brackets but they are still arguing about getting rid of
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state and local deductions across and new york, new jersey, connecticut, all of the congressmen and senators are saying that is just a no-go. are they going to have to change the rule? >> i mean, they might, the bottom line, though, that i think mostly every republican can agree on is that something needs to get done, something. you know, tax reform is really the republicans last chance for a major legislative victory before 2018, they haven't really accomplished much else. they need to give voters a reason to vote for them. of course, no democrats are expected to vote for this plan and republicans can only lose two members of their own party if they want to get this passed. it's all about getting 50 votes and we have seen in the past, even mild descent in the republican party can kill major legislative efforts, this is a tricky situation, but, again, they've got to come together to get something done and getting rid of state and local state income tax deductions can really help when it comes to making
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sure that this plan doesn't result in big deficits and also levels the playing field when it comes to federal taxes. cheryl: i know, but we have talked about this, though, people from peter king of new york says it's a nonstarter, raises the taxes on middle-class americans living in high-taxed states, i don't think he's backing down and he's been a big supporter of president trump. mark, i want to look at the timeline because this is what investors will be focused on. if you look at first the senate has to passed a budget resolution, that's the beginning of this thing, right, conference committee has to adopt a bill, chambers have the pass the budget, kevin brady has to release the bill and then house ways and means starts to mark up the whole thing, this looks like a long process, can this get done in 2017 and doesn't mean that investors are going to get what they wanted which is tax reform? >> they probably can't get it done in 2017, they can carry it over in new year, they need to get it done by spring.
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if they can get it done by march or april, get it done by tax day, make it retroactive to january 1, they'll be messy at the start but that's the time frame that's probably workable and in our forecast that we are releasing today, we have the impact from the tax cuts beginning in the second quarter of 2018. so i think they get it done but if they get it done it's likely to happen a little later. cheryl: zrrows clarify, the new report that you're releasing, second quarter of 2018, do you think it's retroactive to 2017? >> retroactive to january 1 of 2018. i won't affect the tax probably but getting it done psychologically before income tax day will be a big plus. cheryl: a girl can dream, mark. [laughter]
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cheryl: you have mcconnell and corker, war of words with president trump, does this hurt the tax reform debate? >> it certainly doesn't help. i mean, trump's feud with corker can alienate certain republicans like john mccain who are going to be key here and john mccain is one of the people who voted no on obamacare repeal effort. corker and some others have said that they will not vote for any plan that increases deficit. republicans are hoping that he'll come around because this tax plan bus boost the economy but i have to tell you, i don't think it's going to be easy to get him on board. we have to remember that corker has said he will not seek reelection so he can vote whichever way he wants and does not have to answer to voters at tend of the day, this is a real shame because the vast majority of americans want tax reform and most voters will tell you, most republican voters will say that any republican in congress who
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is not their pushing that the agenda that the american people voted for should resign. cheryl: it's interesting, mark, too, if democrats decide to dig heels particularly in corporate tax rate, president trump has said 20%, that's any red line, he's very committed to that. that would be incredible boost to the economy, is the message not getting out effectively? >> the message is getting out but there's not a lot of procorporate sentiment in the general population. the whole election was about how the vast middle were left behind. corporate tax reform is essential and we talk about giving a tax holiday for repatriating profits overseas, if we don't fix the corporate tax rate, that money is really not going to get reinvested in economies, it's going to be invested some place where he gets higher rate of return. we need to fix the corporate tax rate and hopefully that message will come through. i think there's a general
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agreement, a lot of general agreement in congress that it has to be done. well, the effective rate is 24% but most companies don't have a bunch of lawyers sitting around, a bunch of cabinet sitting around and their effect i have tax rate is statutory rate, that's where most companies are, it's the large companies that can figure to bring the rate down. cheryl: it does help you in your life, look at your 401(k) today because it's doing very well. good to see you. >> thank you. cheryl: stay with fox business, we will have live coverage on president trump's speech. lauren: in sports, it was emotional home f-opener for golden knights and devastating loss for socker, we will show you all of the highlights in just a bit. president of catalonia stopping short from calling independence
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from spain, we are going live from london of the report of unbelievable market reaction we are seeing this morning. as for investments here at home, dow futures down 14 points after 47th record close of 2017 yesterday. you're watching. ♪ ♪ "volatile markets." something we all think about as we head into retirement. it's why brighthouse financial is committed to help protect what you've earned and ensure it lasts. introducing shield annuities, a line of products that allow you to take advantage of growth opportunities. while maintaining a level of protection in down markets. so you can head into retirement with confidence. talk with your advisor about shield annuities from brighthouse financial established by metlife.
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lauren: emotional home-opener, las vegas nielgts, first ever home game at, t-mobile arena. the knights want to help the city heal and last night they honored victims and families of
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first responders mass shooting in preceremony. firefighters called out by name, accompanied by the golden knights players and they had a 58-second for all 58 victims of that shooting. they had a 58-moment of silence. >> las vegas, please join us in 58-seconds of silence for the 58 individuals who lost their lives on one october. >> to the families and friends of the victims, know that we will do everything we can to help you and our city heal. [cheers and applause] we are vegas strong. [cheers and applause] lauren: vegas strong and one
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pregame ended, vegas fired four goals in first period on the way to beating the arizona 5-2, first nhl expansion team to start 3-0. cheryl: devastating loss for u.s. men's socker team, the team needing a win or draw to qualify for world cup in russia and in the 17th minute, jones sent pass but omar gonzález deflects it in for an own goal, trinidad and top oog up 1-0, 37th minute in, jones shoots it from way out. howard unable to make the safe. trinidad and tobago goes onto win. u.s. will miss out on world cup. lauren: that's why it's a devastating loss. cheryl: we both played socker. the cubs and nationals getting unexpected day out, a lot of rain and waiting in chicago. game four was canceled.
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that was it. [laughter] cheryl: they do lead the sears. poor chicago. indians are settling things tonight. that's going to be fun. lauren: absolutely. you know what's going to be fun? i'm debating, so coming up we will talk about the global market reaction to everything going on in spain, so the president -- the prime minister of catalonia, he didn't declare independence, he's backing off and the market seems to love it and we will have a live report on that in just a bit. stay with us i know when i hand them the keys to their first car it's gonna be scary.
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lauren: president of catalonia is backing off a call from independence from spain at least for now. the markets are reacting, we bring in riva gold to talk about. mixed reaction in europe but positive in spain, riva. >> indeed, it seems throughout the crisis in spain, a lot of the reaction has really remained limited to spanish assets and that's why you are seeing the biggest reaction there this morning with spain back up
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substantially, only down less than a percent since referendum. you're seeing a big reaction in spanish bonds, they are trading at the lowest since the vote and you're also seeing relief in the euro, although it hasn't been majorly affected by the situation in spain, you did see it jump about as most in a month yesterday after the president stopped short of a full and immediate declaration of independence. it does seem that you're seeing tentative signs of relief in the spanish assets this morning. cheryl: fun soap opera to follow. we are enjoying it over here. that's fascinating. >> japan is finally catching up to a lot of markets this year. it's banking on uptick on global growth as well as sign that is corporate sector maybe becoming more shareholder friendly that's gotten people encouraged. it's cheaper than a lot of other
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developed markets and people are expecting continuation of the same political leadership for a long time which is led to pretty solid rise in stocks and it's still pretty far off record high but for now this is a new record to celebrate in japan. lauren: riva, we appreciate it. thank you. cheryl: let's send it over the maria bartiromo, mornings with maria starts right now. maria: thank you so much for joining us, it is wednesday october 11th, top stories right now, 6:00 a.m. on the east coast. laying out the plan for tax reform, president trump will travel to harrisburg, pennsylvania today to sell his vision to overall our nation's tax code to the american people. >> people want to see massive tax cuts, i'm giving the largest tax cuts in the history of this country in addition to that they'll be reformed. we will be adjusting a little bit over the next few weeks to make it even stronger. maria: what we can expect from the speech today including his plan to bring money back from overseas just


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