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tv   FBN AM  FOX Business  November 24, 2017 5:00am-6:00am EST

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and i believe next year we're going to see a lot more people than anyone could imagine right now understand just how grateful they should be for this president. pastor, thank you for being with us. we appreciate >> a sharp 50 inch television set. >> box, x box 1 x. >> it is here, the busiest shopping day of the year but is black friday losing its mojo? >> donald trump using thanksgiving to honor the troops pushing tax reform ahead of his meeting with congressional leaders that will take place next week. >> wall street is open for business, and early close at 1:00 eastern in new york. here is the friday morning snapshot, sales up 5 points and s&p and nasdaq up 3.
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dave: stocks opening, waiting for development in a political crisis such as it is in germany, talks of a coalition to rule the country helping lift german stocks, the dax index early on. >> chinese stocks took a beating, the shanghai composite down to present. there was a bounce back overnight, shanghai composite up slightly. >> more news for uber, the wall street journal reporting the new ceo knew about the massive security breach for months before telling customers and drivers. fbn a.m. start now. ♪ >> it is 5:01 in new york, november 24th, feels like a
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monday. ashley: it is black friday. i have been waiting for this day for years, black friday is losing lester. use your phone, why are you showing up in the store. it is the breaking news for us this morning, kicking off this holiday shopping season and it was 4 years the biggest day of the year shoppingwise but that is our question, has black friday finally lost its mojo to the web and the smart phone? lauren: jeff flock joins us in the morning from windy chicago, happy thanksgiving. jeff: it hasn't lost enough mojo to not get me up at 4:00 in the morning but maybe someday i will be fortunate. this is black friday in
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chicago, the magnificent mile of shopping. the good this or not so good if you can afford to shop here you don't need a bargain, they don't open the stores better early but expect it to be a big day later in the day in chicago. we have pictures of folks around the country who have gotten up early and gotten a bargain. you say lose its mojo, surveys say this will be a very big day in large part because the economy is doing well. according to the national retail federation the numbers 164 million people will shop today, 69% of shoppers, pretty big numbers out there. another survey said people would spend $200 more this year than last black friday on the thanksgiving holiday. the other thing to report from michigan avenue in chicago, this has been the site for the
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last two years of black friday protest, black lives matter, people protesting mistreatment by police, two years ago it was just days after the release of the look on mcdonald's shooting video we had a mass protest, hundreds of people blocking access to stores. didn't come off as dramatically. this year they called for another protest, we will see how that goes, we will watch shopping and protesting, we have it all in chicago on black friday. connell: you look great, 4:00 in the morning. jeff: that is all that matters. warner: i bought something this morning, he didn't ask me what. i thought you would ask, who goes shopping at 4:00 in the morning? commentary? jeff: really? shopping online? how can you buy that online?
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warner: i am a woman of fashion. connell: before you get in trouble we will talk to you later. warner: let's look at what we can expect for the black friday sales and the holiday season overall. the managing director of strategic resource group. i know this time of year you usually pull an all nighter. is that the case this morning? >> reporter: people are buying online but also in stores, macy's at 2:00 or 3:00 this morning, more bags and bigger bags than we have seen in probably 10 to 12 years. retail alive and well, north of where jeff flock is reporting on michigan avenue. jcpenney had over 1000 people lined up north of chicago
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waiting for the 2:00 pm opening on thanksgiving day. we are seeing everyone win in land-based retail except target. lauren: you are saying brick and mortar is alive and well but what is the motivation for our shopping this year? is it because the deals are so good or are we confident in the financial situation that we are spending more in general? >> reporter: combination of the two but especially financial, the four cornerstones of the economy are winning again. building, manufacturing, energy and mining as well as agriculture. people are feeling good about where they are, taking more credit card debt to spend more but also what we are seeing, even with grain prices firming, your loyal -- loyal viewers are doing record numbers online. whether it is in stores or
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online only, everyone is winning this holiday season. lauren: who do you expect the losers to be? >> target, i brought my wake-up call for target where i teach, target stores are currently closed. they were open until midnight and even with record crowds and their competitors between midnight and 3:00 am target shut the doors, their loyal customers went to kohl's, jcpenney, macy's, circuit city and walmart. like the cornell president of the board, cutting women's and men's sports teams, staffing and resources target is doing the same thing, loser for target shoppers and shareholders, winner for walmart and everybody else and macy's especially is coming back.
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i have one for you and one for connell's kids but the magic of macy's is back, christmas and holiday and the new merchants are hitting it out of the park. lauren: for the six hours target is closed from midnight to 6:00 when they open this morning will hurt their sales. there are those shoppers going in stores overnight that they are losing. >> many shoppers, walmart was open 24 hours on thanksgiving day and they still had lines of several hundred people. target getting it when they are open and closed losing more. lauren: thank you. connell: we have new details emerging as we move on to other news about huber and the massive security breach. lauren: tracy joins us with that and other headlines, happy thanksgiving and happy black friday. >> reporter: the wall street journal reporting the ceo learned of the breach two weeks
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after he took over in early september, reportedly ordered an investigation which he wanted to complete before telling the public but before informing customers and drivers, uber told investors softbank plans to invest $10 billion into the company about the breach. in a statement, huber said, quote, we said we were investigating a data beach consistent with our due to to disclose to potential investors and our forensic investigation was ongoing. once the internal inquiry concluded and we had a more complete understanding of the facts we disclosed to regulators and our customers in a very public way. connell: that story is unbelievable. another company, roby up we know for one famous game, rough day in the market. >> reporter: shares of angry
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birds's maker and the pioneer of mobile gaming cut 22% on the local nasdaq, helsinki market after a surprise third-quarter loss in its first earning since going public in september. analysts and investors expected to see a big game. the unexpected loss is due to higher spending on advertising and marketing which the company hoped to recoup but did not. warner: facebook dealing with allegations of russia. on their site. what are they doing so users can know if an ad is influenced by russia? >> reporter: you will be able to find out if you were duped by accounts associated with internet research agency, facebook says it is creating an online tool that will show you if you followed fake russian account spreading false information during the 2016 presidential election on facebook or instagram. 150 million users have seen
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these ads and posts distributed by the russian organization. the new tool will be available in its help center by the end of the year. connell: you like the russians? as we continue this morning there is a new twist in the investigation speaking of russia. the white house national security adviser mike flynn cooperating with special counsel robert mueller and amazon makes it easy for you but what about supporting the local mom and pop shop in the neighborhood. can small business compete in this day and age? a regular look at futures, the dow and s&p of three, you are watching "fbn a.m.". ♪
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>> let's get you caught up on what is happening, donald trump sending you think giving message to us troops. he held a videoconference with five deployed military units thanking them for their service during the holiday season. he and the first lady served lunch at us coast guard
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headquarters. this positive message made its way to twitter, the president tweeting happy thanks giving, your country is turning to do well, job coming back, highest stock market ever. military getting really strong. we will build the wall. va taking care of our vets, great supreme court justice, record cut in regulations, lowest unemployment in 17 years. former trump national security adviser michael flynn cooperating with robert mueller's russia investigation, and report in the new york time shows flynn's lawyers cut ties with the president's legal team and no longer discuss the special counsel. no word if an indictment could follow. minnesota senator now franken issuing another apology after two women came forward saying he groped them in 2007-2008. he released a statement reading i feel terribly that i have made some women feel badly and for that i am so sorry and i want to make sure that never happens again. finally, us capitol police investigating whether or not a crime was committed after joe
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barton's nude photos made the rounds on social media, barton has apologized for the weekend admits the pictures were from a consensual relationship he had with a woman while separated from his wife. connell: for ending that on a high note. it is supposed to be about the big name change we were talking about a few moments ago but what about the locals, the mom and pop shops ahead of small business saturday? let's bring jean marx in, who joins us bright and early from the great city of philadelphia on black friday. >> you and lauren are in too good a mood this friday morning. connell: the generic drugs they have come up with over the years, one of the things that came up, thanksgiving dinner, true story, all of us agree
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heading out to a big chain and trying to bust down the door of walmart or wherever it might be seems like a silly idea. people do it still. maybe you want to support the local shops in your neighborhood. that might be the motivation for shopping at a store rather than shopping online. any truth to that in 2017? or are these guys really struggling? >> everybody likes to support small business. tomorrow is small business saturday. people will go out and shop and you will see donald trump out there at some small business like all presidents do saying they support small business but if you are going to get a bigger deal from a big box store or try somewhere online, you have support for small business that only goes so far. in the end it is about your pocketbook. connell: what is the strategy if you are the local mom and pop shop?
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to be more proactive online yourself to try to play along with big boys or something else? >> you hit it on the head. people talk about going online to big places like amazon. amazon for example a lot of people target them saying they have been killing small business but you have to remember, over 2 million amazon retailers make up 40% of amazon sales and those are on -- small online merchants. in 2017, talking with my clients and my readers, many small businesses are making their money online. it doesn't mean doing that all the time. there are a lot of stores i go to locally in philadelphia that combine online with in-store stuff. if you are doing something specialized, providing good service to customers on the ground people appreciate having the extra option. connell: it has to be a
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combination. if you indulge us with a slightly political question, speaking of small business, one thing that came up in this tax reform debate is whether the plan being presented, house, senate, combined, does it benefit small business, that was something for senator from wisconsin brought up, his lack of support, more beneficial to big business and small. what is the truth? >> i wrote about this in the washington post a couple days ago and they were two reasons it does benefit small businesses, there is a pass-through rate that goes to 9%, a partnership, typical small business owner achieves 35 to $75,000 a year and that rate will impact them a lot. and big corporations are getting a big break, but i got
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to tell you better the corporation has, the more money they have, they will invest and hire more people and equipment, for existing employees they will take care of them better, look at you, you work for a big company, you are going to go home and you will buy pizzas and go to restaurant and support small business as well. connell: how do you know all that? >> i know you. connell: you have a lot of energy yourself some interesting if you are right, maybe senator johnson comes on board with this, see you soon, thanks for getting up early, we appreciate it. warner: peters on wednesday night and friday night is thanksgiving leftovers. connell: 6 months. warner: legendary country singer johnny cash about to make history. ♪ burns burns burns
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♪ the ring of fire ♪ the ring of fire lauren: what is going on with johnny cash's boyhood home? how should you dress for black friday shopping? your weather is coming up. you are watching "fbn a.m.". ♪
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♪ i keep my eyes wide open all the time ♪ i keep the ins out ♪ because you are mine ♪ connell: johnny cash's childhood home in arkansas considered on the national register of historic places, built in 1934, small town 30 miles to the northwest of
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memphis, tennessee. the house was given to the cash family, part of the federal government economic recovery program during the great depression. the final decision whether the properties included on the list will be made on the national park service. warner: i didn't know that. connell: now you do. lauren: you are also here because it is black friday. connell: because cheryl is off. lauren: they couldn't find anybody else. connell: nobody else would do it. jeff flock was at the mall. this is all we are left with. lauren: in about an hour. connell: are you going to be live? warner: do you need anything? connell: on "mornings with maria"? warner: i can get some gifts cross off your list. we are in trouble in a few seconds. black friday shoppers are expected to be hit by strong storms in parts of the northwest. lauren: in the fox weather center, how does the forecast
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look on black friday? lou: i am here because janice dean wanted the day off. we all have our own struggles. mostly clear across the country. the only spot i am concerned about is rounds of rain across the pacific northwest, that is going to bring snow at higher elevations. they have seen plenty of rain the last 48 hours, they will see another two or three inches, would not be surprised if there's a little standing water on the roadways. give yourself extra time for that traveling, temperatures have been mild in the western half of the country, you are around 60 ° in the desert southeast or southwest, i am all over the place, temperatures around 60 °, close to 90 ° yesterday.
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you really want to bundle up, that is here on the east coast into portions of the midwest. these are your current temperatures but if you add the wind, there are spots the wind feels like temperature is in the 20s, feel like 30 ° in new york city, 23 in detroit, 27 in indianapolis. if you haven't broken them out, get those big winter coats on or go by a big winter coat. lauren: people head to the computers and phones for black friday and cybermonday deals, how do you protect yourself from hackers and cyberpirates? what tricks are but a brick and mortar using to lure shoppers into their stores this holiday season? we will look at the best deals for black friday coming back. ♪ atile 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,
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television set for $179. >> x box, goggle box 1-plaps. warner: it is here, the busiest shopping day of the year or so we think, black friday, is it losing its mojo? connell: donald trump honoring the troops, pushing tax reform ahead of a big meeting with congressional leaders next week. lauren: plenty of mojo in the stock market, wall street open for business but an early close at 1:00 eastern time. here is a snapshot how your markets are looking, dow up 14 points. the other markets up 170 points on the week. connell: let's check europe, see where we are mixed as investors wait for german developments where they had the political crisis, talks of a grand coalition to rule the country, the dax, bottom of the screen in germany is up 0.2%. lauren: the shanghai composite
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down 2%, we saw a bounce back overnight, the index ending to the upside. connell: if you are going to be looking for sales on black friday you better protect yourself from cyberyouth and thugs, "fbn a.m." continues right now. ♪ lauren: it is friday, november 24th. connell: good morning, everybody. i am connell mcshane in for cheryl casone he and we stay on the breaking news on black friday. that is always the story after thanks giving, kicking off the holiday shopping season, we made terrific graphics of people running into stores. lauren: it used to be the biggest retail day of the year but we keep asking and we started asking a couple years ago, has black friday lost its
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mojo to what is going on on the web? jeff flock joins us from chicago. any more people out or are they sitting home buying with her fingertips? jeff: all the rich people don't come to magnificent mile in the morning, they can afford to stay home and not worry about bargains. black friday sometimes has a different feel in chicago particularly because of the protests, the black lives matter protests. macy's on the magnificent mile, set up some barricades in preparation because as connell remembers a couple years ago the black friday protests got pretty crazy. this year's protest across the street at the actual chicago water tower, part of the old pumping station when this was on the shore of lake michigan, everything east of here has
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been filled in and build on. there you go. a fun fact about chicago. black friday in full swing around other places in the country, people coming out to get the bargains. retail me not did a survey this year that found folks were going to spend is your, $753 on black friday compared to $505 on average last year, 52% of shoppers expected to get out and shop on black friday, 69% of shoppers over the course of the thanks giving holiday, about 164,000 million people will do shopping, that is quite a large number. the positive economy, things are cooking, jobs, 17 year low, jobless claims, 15 year low, stock market has never done any better. people got some money, maybe they will spend it. connell: i was thinking you are
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right, two years ago we had a big show plan, the black friday show at the mall in new jersey and we barely mentioned shopping. those were huge protests two years ago and you were all over it. jeff: two years ago, the laquan mcdonald shooting tape had been released, people blocked entrances to these stores, it was a big mess. connell: let's hope for no repeat performances. more black friday talk. one of the best deals out there. lauren: all the other headlines making news this morning, what are the best deals? >> reporter: you look like black friday shoppers. one of amazon's black friday deals a 32 inch tv, under $70,
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the hd 10 tablet for $99.99, 50% off the list price. walmart has a $300 gift card with the purchase, in stores, microsoft x box ones console, $189.99, $90 off at target, $25 gift card, 50%, a lot of deals out there. they have been out there. they have been out there the past few days. connell: deals and opportunities on black friday. connell: tell us about it. >> they are taking advantage of
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black friday. 40 pot dispensaries offering black friday deals on pot flour products edibles concentrates. one of the senators who pushed this forward, makes a great stocking stuffer. lauren: that is the quote of the morning, marijuana makes a great stocking stuffer. reaches i consider that a trick but you will tell us about some legit tricks the brick and mortars are using. to get shoppers into the store. lauren: we won't call them tricks, we will call them incentives, creative ways to lure shoppers in. to lure them away from the internet, a lot of people are shopping, they are doing a lot of things, malls hosting gingerbread decorating sessions, set up temporary ice-skating rink, selfy with santa.
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them you can bring your pets which is appealing to some people, visits from the grinch, walmart hosting holiday parties in the store, target doing something similar giving away cookies, toy demonstrations. they are creating experiences. lauren: makes people want to go for another reason. connell: according to one study eight in ten americans plan to do their shopping online. a lot of people, we have seen this trend in the past and it seems to be growing. falling victim to an online scam, retail analysts, research and author of black market billions here to explain, dooming some trips, what do we need to look out for? >> reporter: i was looking at a
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study done by paypal similar to what you were saying, people now shopping via their mobile devices, people have to take these measures to be careful, wanting to look out for, seems pretty obvious, going so quickly, you may not notice some of the urls i misspelled, maybe he wants to go to walmart but it says walmart has an extra arl, make sure you look at the spelling. look at where the domain is, or walmart not that, walmart always has or target, if you want to go to a legit retailer more than likely that domain is going to be a lauren: when i shop for the you move so quickly you look for the cheapest price, look at the
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source. >> reporter: you want to look at i am getting so many emails for different type of black friday deals, you want to make sure even on the email is legit as well. these phishing scams send you an email says your fedex shipment didn't get delivered or ups shipment doesn't get delivered and that might be down the way for this season but more than likely if you get it, you see that email, you don't respond to the email but call fedex to see, track the package, pretty much a common way fishing happens. lauren: don't click on any -- i actually ignored a company trying to contact me, i thought it was a scam and the whole
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time was legit, you are overly cautious. >> reporter: and your delivery doesn't get done. take that seriously. >> there is a question asked or uber, something we need to be aware of. happy shopping, happy thanksgiving. connell: there is other news coming up including this explosion detected near a missing submarine, the latest on the search. how should you prepare for tax reform, what is being talked about. you are watching "fbn a.m.," we will be right back. ♪ whether it's connecting one of the world's most innovative campuses.
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lauren: on happening now, hope you had a good thanksgiving dinner, u.s. navy suspended a search for 3 missing sailors 36 hours after the cargo plane crashed in the pacific ocean, the other eight sailors were rescued soon after that crashing waters southeast of okinawa, japan. those sailors in good condition was the greyhound was
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transporting passengers and cargo to the uss ronald reagan when it went down. another search for submarine, 44 crew members taking a tragic turn. argentina's navy announcing an explosion like sound was detected by the united states where the submarine made contact on november 15th. family members hoping the oxygen supply could keep dozens of crewmembers alive as the urgent search continued. and this. after uma thurman unloading on harvey weinstein in a thanksgiving day in the gram, weinstein has faced allegations of sexual harassment and assault. in pulp fiction, kill bill, she use the me 2 hashtag on her post, starting to raise awareness about the extent of the sexual harassment. this is what she wrote. and accept you and your wicked conspirators. i am glad it is going slowly,
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you don't deserve a bullet. that is how she feels and obviously she knew it. connell: donald trump meeting with congressional leaders after the weekend. and on both sides of the aisle, and tax reform, they get the tax reform passed, how well the proposed plan if it were to go through affect you something we should start talking about which you will, thank you very much for coming on here the morning after thanksgiving. this is something people have on their minds once they get past the political debate, is this a good idea, what will
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happen, can they pass it? now are my taxes going to go up and how can i avoid it? what have you been telling your clients? >> we are in for some choppy waters because we are not sure what the plan will look like and that is if we get it through. there are certain things you can do and the first thing i would tell people to do right now, maximize the amount of money you put in your retirement plan whether it is a 401(k), do the most you can, always tried and true. stick with that. the other thing is whether it is the senate plan or the house plan, all the deductions will go away. if you are planning a medical procedure, best to have it done before the end of the year. if you plan on getting divorced keep in mind alimony payments are not going to be deductible in the new plan if it goes
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through. you may want to consider that as well. connell: neither of us have those plans, many of us live with these deductions but working around that, but forget the politics of it, the reality of it is a big deal for a lot of people. it depends what state you live in. >> absolutely. when we talk about high tax states, new york, new jersey, california, if you are a high earner this can be devastating because to lose that deduction is significant. the tax code pics winners and losers and there will be some losers in high tax states. connell: that is why it may be difficult to pass which is another issue.
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thanks for coming on. lauren: if the christmas gift was no good or thanksgiving was dry, get it in. coming up in sports, the nfl, washington redskins, new york giants, highlights coming at you. you can call if a thanks giving tradition, a big selloff in chinese stocks, how the thanksgiving holiday in the us and the selloff in china might be connected when we come back. ♪ another day of work. why do you do it? it's not just a pay check, you actually like what you do. even love it. and today, you can do things you never could before. ♪ ♪ you're developing ai applications on the cloud. finding insights hidden in decades of medical documents.
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lauren: us troops celebrating for giving miles from homes and family. a traditional meal, turkey, mashed potatoes and stuffing served to american troops, with your thanks giving them the time of increased tension on the peninsula. in afghanistan national guard soldiers from south carolina, illinois and iowa and active-duty servicemembers are enjoying their thanksgiving day lunch. in kuwait, the us-led effort against isis continues, officers soldiering -- serving thanksgiving dinner. lauren: jared max is out which gives me a chance to do sports. whoever is out i am in. i like to do sports, vikings red-hot taking on the jets, thanks giving they football, and everyone sat down, they played duck duck goose, emerson griffin, his son born when he was warming up, how about that?
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the face time, celebrates, they go 30-23, two touchdowns, 282, vikings maintain a firm grip, redskins putting on a clinic posting the giants, a touchdown there, 140 yards, the redskins wins this one 20-10, awesome year for the giants, washington 5-6, to have a 9 for new york. when working up an appetite for everyone's hair, thanksgiving tradition for the winners, turkey leg post game, la chargers, having some kicking trouble as they take on the cowboys.
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emergency backup not too encouraging missing the practice net, beyond embarrassing, philip rivers did not miss, 434 yards on thanksgiving day, three touchdowns for rivers, 400 plus on thanksgiving, cousins last year against dallas, the chargers win this 28-6, cowboys their third straight loss by 20 points and gerri jones continues to be angry and roger goodell had a meeting after the game, players say it was a message of support, jones telling them to acknowledge how blessed they are but he has not been a happy camper lately. lauren: chinese stocks tumbling on thanksgiving day and it is happening again. is there a connection? we will explore it straight ahead on "fbn a.m.". ♪
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lauren: stocks posting modest gains but they did fall steeply yesterday, 2%. we have been discussing if this is a new thanks giving day tradition, when our markets are closed for the holiday, what do you think? >> good morning, certainly seems to be.
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if you look at the last we 10 years chinese stocks had a fall of 2% or more six times out of ten which is pretty remarkable given this is not an index of turkey producers or anything you would imagine a discernible link. you could argue navy markets are less liquid with the us out for the thanksgiving holiday but not much of an impact on domestic chinese stock market. a bit of a puzzle for investors. connell: one other topic an interesting story about buybacks and is in the company spending since 2012, what is happening? >> seems like a pretty healthy sign, they were holding off for a while buying back a lot of their own shares, now they are more willing to invest in and mergers as the returns look less attractive, the economy is getting better, getting more if they reinvest in their own
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companies. lauren: thank you, appreciate it. connell: your first chance to coanchor with me, how would you rate it? >> 10 out of 10. connell: quite an experience, the great dagan mcdowell. dagen: do you have shed already? you will spend the next three hours with me. connell: she has done that. dagen: i keep it in my calendar, thank you both. happy thanksgiving to everybody. it is friday, november 24th. your top stories at 6:00 eastern. the busiest shopping day of the year. millions of americans lining up in stores across the country with some bargain-hunting on thanksgiving day. $1 billion already spent. donald trumpigig


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