10AM ET 05/14/2026 Newscast

Summary

---

Fox News Hourly Update – 10AM ET, May 14, 2026

Host: Dave Anthony, FOX News Podcasts
Date: May 14, 2026
Episode Theme:
A roundup of top global and U.S. news stories, with special focus on President Trump’s visit to China, U.S.-China relations, Iran tensions, economic updates, and sports.

---

Main Theme

This episode centers on President Trump’s state visit to China, highlighting key U.S.-China diplomatic developments and their global repercussions. Other significant topics include Middle East tensions, economic and labor updates, and notable sports highlights.

---

Key Discussion Points

1. President Trump’s State Visit to China

• U.S.-China Relations & State Dinner
  • President Trump is honored at a state dinner in China.
  • Trump emphasizes the "rich and enduring ties" between the U.S. and China.
  • President Xi Jinping echoes the significance:

    “The China-US relationship is the most important bilateral relationship in the world. We must make it work and never mess it up.” (Xi Jinping, quoted at 00:20)

Taiwan Tensions

• Chinese Warning on Taiwan Issue
  • China names the "Taiwan question" as paramount for U.S.-China relations.
  • Official statement warns:

    “If it is not handled properly, the two countries will have clashes and even conflicts… Taiwan independence and cross-strait peace are as irreconcilable as fire and water.”
    (Chinese statement quoted by Jeff Flock, 00:38)

Trade and Economic Detente

• Trade Talks Outcome
  • Both nations achieve a “managed detente” on the ongoing trade war.
  • The truce, reached over a year ago, remains in effect, and both sides gain:

    “Pretty clear the two sides come away from this with a managed detente on the trade war...”
    (Jeff Flock, 01:00)

---

2. Iran and the Strait of Hormuz

• Iran Seizes Cargo Ship
  • Iran seizes another vessel near UAE waters, escalating regional tensions.
  • The Strait of Hormuz remains closed to shipping.

    “That ship now seen heading towards Iranian waters, another indication the strait remains closed.”
    (Lucas Tomlinson, reporting from Dubai, 01:11)

• Global Reaction
  • Both U.S. and China agree that "Iran can’t have a nuclear weapon," and that the Strait should remain open.

---

3. Economic Updates

Markets & Gas Prices

• Oil prices diverge (slightly down), but gas prices rise by another 2 cents.
  • AAA national average for regular: $4.53/gallon (02:13).
  • Retail sales: Up 0.5% last month (much lower than March, driven by gas prices).
• Stock Market surges:
  • Dow briefly tops 50,000, closes up +249 points but under that milestone (02:13).
  • NASDAQ and S&P 500 hit all-time highs this morning.

Federal Reserve Leadership Change

• Kevin Warsh to Replace Jerome Powell as Fed Chair
  • Warsh’s confirmation follows a probe into HQ renovations under Powell; probe dropped in April.
  • Warsh’s appointment:

    “Warsh takes over as Fed chair when Powell’s term... ends Friday. Warsh will be in charge at the next meeting of the Federal Open Market Committee on June 16th and 17th.”
    (Grinal Scott, 02:54)

Labor Market Data

• Unemployment
  • Weekly unemployment claims up 6% to 211,000.
  • Continuing claims rise to 1.78 million.

---

4. Sports Update

• NHL Coaching Changes
  • Edmonton Oilers fire head coach Chris Knobloch after early playoff exit, despite two recent Stanley Cup finals appearances.
• Stanley Cup Playoffs
  • Colorado Avalanche beats Minnesota Wild 4-3 in overtime, advances to Western Conference Final.

---

Notable Quotes & Memorable Moments

• President Xi Jinping:

  “The China-US relationship is the most important bilateral relationship in the world. We must make it work and never mess it up.” (00:20)

• Chinese Official Statement on Taiwan:

  “If it is not handled properly, the two countries will have clashes and even conflicts… Taiwan independence and cross-strait peace are as irreconcilable as fire and water.” (00:38)

• Jeff Flock on Trade:

  “Pretty clear the two sides come away from this with a managed detente on the trade war that came to a truce more than a year ago. They both get something out of this meeting.” (01:00)

---

Noteworthy Timestamps

• 00:03 – President Trump’s state dinner toast in China
• 00:20 – President Xi Jinping on US-China relations
• 00:38 – Chinese warning on Taiwan
• 01:00 – Trade war and economic truce
• 01:10 – Iran seizes cargo ship, Strait of Hormuz update
• 02:13 – Stock market highs and gas price update
• 02:54 – Kevin Warsh named new Fed Chair
• 03:31 – Unemployment claims, Oilers’ coach fired, NHL playoffs

---

Tone:
Direct, serious, and urgent—matching the FOX News newscast style.

---

This episode delivers concise, crucial updates on international relations, economic shifts, and sports, with a lens on how global tensions and leadership transitions could shape the weeks ahead.

Transcript

[Dave Anthony]

It's late at night now in China. I'm Dave Anthony, FOX News, where President Trump was a guest of honor at a state dinner. I'd now like to raise a glass and propose a toast to the rich and enduring ties between the American and Chinese people. That was after the president said he had extremely positive and productive talks with Chinese leader Xi Jinping, who toasted to prosperity and the China. US Relationship is the most important bilateral relationship in the world. We must make it work and never mess it up. Well, there's one thing that could mess it up, support for Taiwan. There's a Chinese statement after the talks

[Jeff Flock]

warning the US that the Taiwan question is the most important issue for US China relations. And it is. If it is not handled properly, quote, the two countries will have clashes and even conflicts putting the entire relationship in great jeopardy. Taiwan independence and cross strait peace are as irreconcilable as fire and water foxes.

[Dave Anthony]

Jeff Fox's Jackie Heinrich also reports from Beijing. They spent a lot of time talking

[Jeff Flock]

trade to pretty clear the two sides come away from this with a managed detente on the trade war that came to a truce more than a year ago. They both get something out of this meeting.

[Dave Anthony]

The two leaders also talked about Iran, with China's leader agreeing Iran can't have a nuclear weapon and the Strait of Hormuz should be open. But Fox's Lucas Tomlinson reports from Dubai. Iran has seized another cargo ship, an attack on a ship 38 nautical miles off the coast of here in the UAE. That ship now seen heading towards Iranian waters, another indication the strait remains closed. Oil prices, they're slightly down today. Gas, though, is up another 2 cents. And we found out this morning there was a slowdown in retail sales last month increasing just a half percent more than a full point lower than in March. But that increase then was mostly just us paying higher prices at the gas pump. On Wall street, there are big gains. At one point, the dow hit over 50,000. The NASDAQ and the S&P 500 this morning hit new record highs. America's listening to FOX News

[American Home Shield Announcer]

with American Home Shield. You can now video chat with live repair experts for help with home fixes over the phone. American Home Shield don't worry. Be warranty. Visit ahs.com listen for 20% off any

[Dave Anthony]

plan available as a benefit with select plans. Now back to the gains, the stock market. The Dow's up 249 points. It's under 50,000. But it briefly crossed that threshold a short time ago as The Nasdaq gains 91. It hit an all time high this morning. So did the S&P 500. It's adding 28 points now. We mentioned oil's down slightly. WTI still about 100 bucks a barrel. Gas 2 cent rise puts AAA's national average for regular at $4.53 per gallon. That's 2 cents cheaper than last Thursday, though. The Fed's tracking inflation closely as it gets a new chairman to replace Jerome Powell, who President Trump had criticized harshly for not cutting interest rates enough. Kevin Warsh will take over.

[Grinal Scott]

President Trump after weeks of speculation, tapped Wash in January to be the new Fed chair. But an ongoing probe into current chair Jerome Powell over Fed headquart orders renovations paused key Republican support. In April, that investigation was dropped and the Senate Banking Committee moved Warsh's nomination to the full Senate which confirmed him Wednesday. Warsh takes over as Fed chair when Powell's term as its leader ends Friday. Warsh will be in charge at the next meeting of the Federal Open Market committee, which sets U S monetary policy on June 16th and 17th. Grinal Scott, Fox News.

[Dave Anthony]

In addition to the retail sales report this morning, we also got an unemployment update today. First time claims increased about 6% last week to 211,000. The number of people still collecting jobless benefits also rose to 1.78 million. A hockey coach has just lost his job. The Edmonds and Oilers fired Chris Knobloch after a first round playoff exit. He led the Oilers to the NHL Stanley cup final the last two seasons, but Edmondson lost both to Florida last night. There was overtime on ice. That was a game in series winning goal for Colorado on TNT beating Minnesota 4 3, advancing the Avalanche to the NHL Western Conference final. I'm Dave Anthony and this is Fox News.