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Early Start with John Berman and Zoraida Sambolin
FDA To Require Breast Density Information For Mammograms; Predictions For Best Picture, Director, Actress, Actor At Oscars; Tiger Woods' Ex-Girlfriend Sues Golfer, His Trust. Aired 5:30-6a ET
Aired March 10, 2023 - 05:30 ET
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ANDY SCHOLES, CNN SPORTS CORRESPONDENT: Up from the floor. It had to be hammered back down before play could resume. And a very nice pink mohawk that handyman right there is rocking, Christine.
The Iowa State Cyclones went on to win 78-72 beating Baylor for the third time this season.
And, you know, if I was one of those players on the court I might not be so quick to resume this game. I'd be like hey, we might need to a sweep and make sure that no more nails are sticking up anywhere else, right?
CHRISTINE ROMANS, CNN ANCHOR: I have never seen a nail coming up from the -- from the court. Never have seen that.
ROMANS: So how are my -- how are my Cyclones doing this year? They're going to be good? I mean --
SCHOLES: Hey, oh yeah.
ROMANS: -- are they going to take me all the way?
SCHOLES: Oh, they're -- I mean, they're a contender to win the Big 12 so we'll see. I don't know if you picked them to win the tournament this year, Christine, but --
ROMANS: I always do --
ROMANS: -- and then I always blow out my bracket -- but, yes. All right, loyalty over reason sometimes for me when I'm doing my bracket.
Nice to see you.
SCHOLES: Which makes it fun -- yes.
ROMANS: Thanks, Andy. All right, investors bracing for today's high-stakes jobs report. What
to expect ahead. And police arresting a man after he crashed his car into an airport terminal. Details coming up.
ROMANS: All right, here is today's fast-forward lookahead.
Hours from now President Biden will meet with European Union chief Ursula von der Leyen. The goal is to ease tensions over a law in the U.S. offering tax credit for electric vehicles that excludes the EU.
Plus, lawyers for the gunman who killed 10 people in a racist attack in Buffalo are expected to update where they stand in discovery for the case. The shooter is already serving a state sentence of life in prison. Lawyers have said he's willing to plead guilty to federal charges if the death penalty is not an option.
And SpaceX will launch its 27th resupply mission to the International Space Station. The Dragon capsule will deliver new science experiments and supplies to the station's crew.
All right, looking at markets around the world right now, Asian shares closed lower. A three percent decline in Hong Kong. European markets also down -- heavy trading there. On Wall Street, stock index futures right now also leaning lower here.
Markets fell ahead of today's critical jobs report. The tech-heavy Nasdaq fell more than two percent. All three indexes are on track for another losing week.
Mortgage rates climbed for the fifth-straight week. A 30-year fixed- rate mortgage averaging 6.73 percent.
On inflation watch, gas prices held steady at $3.47 a gallon.
All right, the big event today, the February jobs report due out at 8:30, in just about three hours. The economy is expected to have added 205,000 jobs with the unemployment rate holding steady near a 50-year low -- more than a 50-year low of 3.4 percent.
I want to bring in Mark Zandi, chief economist at Moody's Analytics. Mark, so good to have you on jobs morning.
The job market is still stronger than the Fed would like. What's it going to take to maybe cool this off?
MARK ZANDI, CHIEF ECONOMIST, MOODY'S ANALYTICS (via Webex by Cisco): Probably more rate hikes, Christine. The Fed has signaled -- Jay Powell, the chair of the Fed, has signaled more rate hikes dead ahead.
Just how big the rate increases, how long rates stay as high as they are depends on how strong the economy remains and most importantly, how persistent this high inflation is. You know, I hope we get -- this job number today is really critical to determining that story of just exactly how strong this economy is and how high rates have to go, and how long they have to stay there.
ROMANS: I know. It's sort of like buckle up for the next couple of weeks, right, Mark? Because we have a lot of data that are going to be coming in and then the next Fed meeting is March 22.
ZANDI: Yes. Well, it's funny, Christine. I get nervous on jobs Friday, especially when it's such a big number like this because this really matters. And then, of course, you're right. Next week we get the Consumer Price Index report -- the CPI. That's the key read on inflation. And that's also a number to get nervous about.
So hopefully, things cool off here. We need -- you know, hopefully, the consensus is right and we get a couple hundred thousand jobs. That would be nice. I sense that it might be a bigger number than that just given all the other data. And then next week we get a cooler number for CPI -- a smaller increase.
So this data now really, really does matter in terms of how high rates have to go and how long they stay there, and whether we go into a recession down the road.
ROMANS: What are you -- what are you penciling in for wage growth here? It's been moderating a bit recently. What do you expect to see?
ZANDI: Yes, on a month-over-month, three- to four-tenths of a percent, so that would put year-over-year somewhere close to 4 1/2 percent year-over-year. It was over five, as you pointed out, if you go back about a year ago. It needs to sort of -- to give you a sense of where it needs to go it's got to be closer to 3 1/2 percent. That would be more consistent with the Fed's two percent inflation target given underlying productivity growth.
So we're headed in the right direction. And Christine, the encouraging thing there is it's happening despite the very tight labor market -- that 3.4 percent unemployment rate you mentioned, so that's good news. But it needs to slow even further here to get wage and price pressures to a place where the Fed is going to be happy with it.
ROMANS: You know, meantime, the clock is ticking on the debt ceiling, which is sort of a Washington problem, but it seems to me that this could be a problem for the Fed as well. The Fed chief Jerome Powell has said they've got to raise this debt ceiling. There's just no question about that.
But does it complicate the Fed's mission if it's going to be holding interest rates higher for longer? And then you're running right into the summer when we could have the X date and a potential political crisis.
ZANDI: Oh, yes. This is a -- this is just the worst timing. The economy is going to already -- well, by our calculation the X date -- the date when the Treasury runs out of cash to be able to pay all its bills on time -- will probably be about mid-August. And that's, of course, when the economy is going to be slowing and quite vulnerable. Rates are going to be high and you throw this into the mix.
If there's still a lot of drama as we approach mid-August and that X date and financial markets are selling off like they've done in past -- kerfuffles and battles over the debt limit -- I can remember back to 2011.
ZANDI: That was a complete mess. The stock market fell I think 10-15 percent during that battle.
If it's something like that, then it raises the odds it's going to push us into a recession just because we're just so vulnerable at that point in time. So this -- the timing for this couldn't be worse.
ROMANS: You know -- and I guess the message for Washington is -- when I talk to sources in Washington they say we'll get this done. One way or the other this will get done and they'll be some sort of maybe a negotiation. And they don't seem to understand that the damage could be done even if you end up raising the debt ceiling. If you wait too long and you're projecting to the world political dysfunction, that is just not good.
ZANDI: Yes. No, it's a great point. You're absolutely right. I mean, they could get it done but they could get it down right -- the nth minute before we have reached the debt limit and there's chaos in markets. And that undermines confidence and, you know --
Obviously, at the end of the day, a recession is just a loss of faith. People lose faith that they're going to hold on to their job, and business people lose faith that they're going to be able to sell whatever it is they produce. And you throw a bomb like this into the mix they're going to lose faith and we're going to go into a recession.
So hopefully, they can figure it out and get it together sooner than that X date because if they wait that long that's going to definitely be a problem.
Mark Zandi, nice to see you. Thanks so much for getting up early for us. Have a great day.
ZANDI: Take care.
ROMANS: All right.
Police in Farmington, Utah have released the officer's bodycam video from a traffic stop that ended with a fatal shooting. We want to warn you some people may find this disturbing.
Authorities say 25-year-old Chase Allan was pulled over for what's being called an illegitimate license plate. They say Allan produced a passport but refused to show his registration or step out of the car when asked. Officers were then seen opening fire and shooting Allan. Police say they later found a handgun on the floorboard of the car.
The officers have been placed on leave pending the outcome of this investigation.
All right, a man is facing federal charges in North Carolina now after crashing a car at Wilmington's airport Thursday. Authorities say the man breached a fence and drove onto the tarmac before crashing through the doors and windows of a -- of a terminal. The sheriff's office said no one was injured during the crash and the driver has been detained.
All right, get your predictions ready for the Oscars this Sunday. A look at who is expected to take home the top awards ahead.
ROMANS: All right. New this morning, the FDA will be requiring all mammogram facilities screening for breast cancer to notify patients about their breast density.
CNN's Jacqueline Howard explains why this step is critical.
JACQUELINE HOWARD, CNN HEALTH REPORTER (on camera): Christine, the FDA now requires mammography facilities to notify patients about their breast density, and that's among other updates to the screening process as well.
So here in the United States nearly half of women have dense breast tissue, and having dense breasts can make mammograms harder to read and increase the risk of breast cancer. So these updates from the FDA -- they're required to be implemented within 18 months. By then most women will notice this update in their mammogram reports and they're encouraged to talk about them with their doctor.
ROMANS: All right, Jacqueline Howard. Thank you for that.
Now to entertainment. Folks, you are running out of time to binge the latest films. Awards season continues Sunday at the Oscars. So who will win the top awards of the night?
Let's bring in Segun Oduolowu, host of Boston Globe Today. Nice to see you, Segun.
Now, walk me through your prediction for best picture here. I mean, a lot of people think that it's going to be "Top Gun: Maverick." Do you think it will?
SEGUN ODUOLOWU, HOST, BOSTON GLOBE TODAY (via Webex by Cisco): Christine, I want it to be, right? That's what brought me to the movie theaters and that's what I think brought a lot of people back to the movie theaters during and after the pandemic. But everywhere -- "Everything Everywhere All at Once" is the darling. It's the one everyone keeps talking about. So that's probably going to win.
But I really would like to see "Top Gun: Maverick" take home that statue. I want Tom Cruise to finally get to be at least somewhat tied into an Oscar. And look, he is a movie star. This movie was fun, it was exciting. It's not often that a blockbuster of this magnitude gets nominated for best picture but for me, this was the best movie that I saw.
ROMANS: Now to the best director. You're sticking with "Everywhere Everything All at Once."
ODUOLOWU: I am. Again, it's the two Daniels, right? It's Daniel squared. Both of them should share this award.
Look, you're not going to go broke in Hollywood betting on Steven Spielberg, so there's a good chance that he could win for "The Fabelmans."
But I believe, once again, "Everything Everywhere All at Once" -- you know, it's what everyone keeps talking about. So lots of every all the time.
And yes, they deserve the award for this movie. It's different when you think of all the things that came out this year -- what they did with this movie. How it's told. The different aspects of it and the chance that they took with telling the story --
ODUOLOWU: -- this unique. It deserves the award.
ROMANS: What's your guess here for best actress? Who stood out to you?
ODUOLOWU: OK, so I feel like a broken record but it's Michelle Yeoh. Now, here's my criteria for this. I don't know if Michelle Yeoh could do what Cate Blanchett did in "Tar," but I definitely know Cate Blanchett can't do what Michelle Yeoh did in "Everything Everywhere All at Once."
So for me, this feels like another one where this movie and this actress, and everyone involved in it should be taking home some gold statues. I thought Michelle Yeoh was incredible.
And this takes nothing away from any of the other actresses or Cate Blanchett, who is phenomenal in her role, but I've seen Cate do this before and I'd love for Michelle Yeoh to get this opportunity because I don't think she'll get an opportunity again to play roles this unique. And I'm pretty sure we'll see Cate Blanchett in yet another prestige role down the line.
[05:50:22] ROMANS: Yes. It really feels like the consensus is that "Everything Everywhere All at Once" really captured lightning in a bottle. That really is just kind of a magical movie. We'll see how it does in all the categories this weekend.
What about best actor? Is Tom Cruise going to walk away with Oscar?
ODUOLOWU: Well, no. This really, for me, is between two movies, right? It's "Elvis" or "The Whale." It's between Austin Butler or Brendan Fraser. And to me, it's Austin Butler's to lose. I -- a lot of people are saying that Brendan Fraser -- the weight he gained and the transformation.
But on the other side, Austin Butler is playing a real-life person. He did the singing in the movie. He's doing the dancing.
And look, I remember watching this and leaving the theater thinking very differently about Elvis Presley. And I thought this was a character in American history that I kind of knew well, right -- you ain't nothing but a hound dog, don't step on my blue suede shoes. I thought I knew Elvis and watching Austin Butler play this role -- it made me feel something different for Elvis. And so when you can take such a familiar character -- something so steeped in Americana and give it your own twist to the point where the family is behind your portrayal, I'm pulling for Austin Butler.
No offense to Brendan Fraser. I understand -- like, that physical transformation was tremendous. But Austin -- that was something special.
ROMANS: Yes, I just finished that last night. I haven't seen "The Whale" yet but I finished "Elvis" last night and it's a beautifully made movie. It really is a beautifully made movie and that performance --
ODUOLOWU: It is.
ROMANS: -- is just terrific.
What about Oscar hosts? It's a year after the famous slap.
ODUOLOWU: Yes. You know, this is going to be a really fine line for Jimmy Kimmel to walk. He's hosting again this year and he's a comedian. He's done stand-up comedy.
And he knows Chris Rock. And I would say that he's probably better friends with Chris Rock than he is with Will Smith. So he has to touch on it or it becomes this larger-than-life elephant in the room when you try to stay away from it.
I'll be interested to see what type of jokes are put out. If there's a skit of any kind. The kind that alludes to the slap heard around the world. But I doubt that it will be anything as dramatic from last year's Oscars.
ROMANS: Yes. All right, Segun. Thank you so much. Nice to see you. You're going to have a fun weekend --
ODUOLOWU: Thank you, Christine. Have a good morning.
ROMANS: -- and a late night Sunday. Thank you.
All right, get ready to spring forward. Daylight savings time is this weekend. How you can prepare for that lost hour of sleep ahead.
ROMANS: All right. Tiger Woods' ex-girlfriend is taking the golfer to court. Erica Herman has filed a lawsuit to nullify their nondisclosure agreement signed in 2017. The couple dated for six years.
A separate suit against a trust owned by Woods contains some bombshells, too. It claims the trust broke an oral agreement for Herman to live in Woods' Florida home. It says she was locked out of the residence after she was told to pack her suitcases for a short vacation.
Herman claims $40,000 of her cash was misappropriated and she says actual damages based on the property's rental value are in excess of $30 million.
All right, police in central Japan have arrested three people for what they're calling sushi terrorism. It's in response to a social media trend. People filming themselves at restaurants, grabbing items off conveyor belts, licking the food, and then putting it back -- disgusting. According to Japanese broadcaster NHK, a 21-year-old and two teens were arrested for this unsavory practice.
Restaurants have been forced to make changes, such as not using the conveyor belts for unordered food and installing security cameras to watch customers.
All right, winter weather alerts for multiple states from South Dakota to Connecticut this morning as a powerful storm is set to bring more snow -- more snow across the northern U.S. Heavy snow also spreading across California, Nevada, Oregon, and Idaho. Flooding compounding the threat.
Let's go the meteorologist Chad Myers. Chad, when is it ever going to end?
CHAD MYERS, AMS METEOROLOGIST: I'm not sure. It's one storm after another like planes lined up to land at LaGuardia.
Here is another storm system for California -- the one that crosses the east and the northeast here -- the one you're talking about now. That will be quick to exit. But snow in Buffalo.
An awful lot of rain in California. This is the major threat. This is the atmospheric river -- the Pineapple Express as we used to call it -- coming into California. Up to 10 inches of new rainfall falling on land that is already saturated. Now, I haven't heard or talked about saturated in California for years, but here we are.
The flash flood threat is high today from the Sierra down to the Santa Cruz. We also have rivers that will be going up 10 feet in 10 hours. People are being asked to evacuate right now because these are the same areas that got hit with the atmospheric river about a month ago. So the ground is saturated. There's no place for that to go except run off.
In the mountains it's going to be snow. Below about 7,000 feet in the mountains it's going to be rain on snow, so that is actually going to be melting the snow. And so, therefore, you have rain melting snow, all running off, all running down into the valley.
And there's no place for all this to go. It all has to go out through the Golden Gate -- under the Golden.