tv Mornings With Maria Bartiromo FOX Business July 23, 2018 6:00am-9:00am EDT
decline across the biggest loser. found about half of 1%. the nikkei in japan worst performer down more than 1%. a deadly shooting rampage late last night. a gunman killing at least one from injuring more than a dozen others. >> i heard at least one a shot. cook beans, spend, reloading. i saw at least four people shot. >> people walked every day, to have dinner come have dinner, have an ice cream, said in a square, enjoy their summer. absolutely devastating. >> the latest on the investigation coming out. president trump takes on iran issuing a sharp warning in a late-night treats a friend
severe consequences if iran doesn't take a cautious tone with the united states. an unexpected change at the top for fear of chrysler. the automaker replacing sergio marky on it after he suffered complications from recent surgeries. what change means for the feature the company. out of this world vodka. "star trek" fans are able to get alcohol inspired by the starship enterprise. all of that and so much more coming up this morning that investment strategist for and develop ejb see part of nature shall endlessly asking partners president lee carter. we will tee up what is going to be an incredible week. one day we left dead in the open is we've got second-quarter gdp. how fast the economy is growing comes out on friday. we are going to hear from major technology companies and get a sense of what the financial world looks like. >> is going to be a big week for sure.
see what corporate health looks like. tech sectors will be very strong. 22% growth for the second quarter from these tech companies. that's over 21% earnings growth. looking at the s&p 500. earnings growth of 2020% right now. things are looking good so far. companies are beating up the bottom line at 76% has come down over the last week. but they concede that but the dollars way maher. dagen: we will dig into more of that. he teed it up nicely, lindsay bell. the president's approval rating going up. we'll talk about that as well. >> fascinating topic because who would've thought based on everything else. >> people who believe in his policies are turning out the noise. >> it's not going to move. dagen: we'll talk about that in a few minutes. tech earnings on tap.
pictures are searching for a little bit of direction this morning. a huge week for corporate earnings. dow industrials futures are down 15 points at the moment. alphabetic, facebook, amazon, twitter all such reports second quarter results with alphabet leading the way today. the parent of google reporting "after the bell." lindsay, can you dig into these companies driving the performance. i'm going to look up a stack that i have on my phone. how critical of these big-name tech companies be? >> it's going to be huge. especially this quarter we saw what happened with netflix canadians. i don't think there's any dispute that this has been a great quarter. we are going to get an amazing economic gdp number. what people want to watch is what is happening with the top line in this guidance improving. we've actually seen surprisingly industrial companies raising
guidance for the remainder of the year, which has been impacted by trade. >> i would've expected using the terrorist is a bit of an excuse. it is a bit of an excuse than they're not using tariffs. also bodies in the tight labor market as an excuse. >> of the change in tone from what we've seen previously. >> speaking of the industrial earnings. they have higher sales and profit margins across all four of its divisions. i was out on friday. the retaliation for major trading part is, canada, mexico and even china read good earning earnings from 3m, harley davidson and whirlpool. you will have to decide whether
they are using trade disputes as an excuse or have an illegitimate impact. >> is the guidance you don't know. >> industrial stocks down 2% is up nearly 5%. down 13%. alcoa has had a major selloff in recent days. >> they bring a lot of it in from canada. they expect a million dollars take to the profitability of the company. the big question when you think about the industrial companies is that they pulling this business forward ahead of the tariffs going into effect.
the second quarter significantly better than expected in the industrial or has been in the toilet. the worst performing sector of all the love in. but the stocks are reacting very positively to this news. on average the companies have reported so far have moved up 2.5 percentage points versus the s&p 500 up 1.6. stocks were react into earnings at all. >> that's great news. i'm not ignoring you. i'm not texting with my mother. if you look at last week the major technology stocks were only two that were lower out of netflix. down 9%. because of the partially to blame its own guidance enough of that was down going into the earnings report half of 1% last week. microsoft out with earnings and at an all-time high on friday i
believe. >> bearing the business the third-largest crowd provider we want to see tonight how those numbers look. >> the economy a big part of republican plans to reach teen control of the house. house majority whip steve scalise on "sunday morning futures." >> the plans to continue focusing on getting this great economic growth and locking it in. we will bring some more bills to cut taxes. chairman brady and his committee already working on. we get a job certify no bill to provide for regulatory relief and do more things to help create more jobs and rebuild the middle class peer >> this comes as "the wall street journal" nbc news poll found half of registered voters on the economy. his highest mark on the question in the survey. also the president's overall approval rating dead-end job a little bit. what you make of that?
>> it's really, really fascinating to say the job approval rating is the highest gun after a lot of people said they did not approve of the meeting with putin. over 60% of people did not approve of that. the bottom line is this. 50% of americans approve of that. 34% don't. people feel in their pocketbooks into the markets rise and 401(k) balance is go out. they are seeing jobs. more opportunities for themselves. even when these things happened, and even when the president makes comments that make everybody uncomfortable as he did in helsinki, the more hysterical people got here the more upside, the more they go after him in the more people go you know what, i am still feeling better economically. that is why people go to the polls. the most important to the american people right now.
if they want to win in november that bad, but the message that is going to counter anything the president's doing on the economy. that is why we see a rise in the socialist movement. here is something that will make life better to you. we get health care for all. that gets people excited. we have a debate on that. just go in after the president saying he's the worst thing that ever happened in getting hysterical about it will not work for the democrat in the big problems. >> again, comes down in terms of this democratic socialist message or whatever you call them these days how you're going to pay for it. that is one thing that does have people to talk about. it did resonate with people like it or not. the kind of worry about the president of the independent federal reserve. people understand that. >> what his interest in at the
end of the day the average voter like the four of us are. they are not paying attention to a lot of it had been really focused on providing for their families and feel better on that. >> we were talking about the president's overall approval rating inched up to 45%. within the republican space. there's also things with a lot of optimism on the supreme court appointment. i think that is really helping the president right now to be not that the republicans in particular the senate showing resistant to the tax cut to point out the house is pushing ultimately falls on the senate to make sure that proved voted on by the midterm elections.
you have another putin visited the fall. we will see how that goes. just in time for the mid-terms. coming up from a tragedy in toronto. at least one person dead, more than a dozen hurt after a mass shooting. the latest as police investigate the mud and the brazen attack. shifting gears at the chrysler. ceo job by sergio martinez staffers a sudden health crisis. the details next. ♪ from the beginning, wells fargo has supported community organizations like united way, non-profits like the american red cross, and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more
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act now to take advantage of commission-free trades for 90 days, plus get up to an $800 cash bonus when you open and fund a new account. ♪ tree into a mass shooting in toronto. cheryl casone is the details. >> a frightening scene after a gunman killed one and injured are two numbers including a young girl. during the rampage the suspect killed at the scene of a toronto neighborhood known as greektown. >> shortly after 10:00 p.m. respond to a 9-1-1 call. a critical stay right now and the other 13 are in the hospital being treated. dagen: investigators tried to find a motive and they would not rule out terrorism. stunning news and a change of the top for fiat chrysler is
sergio markie ohmae has been replaced. underwent surgery about three weeks ago but his condition has since worsened according to the company. the jeep suv wishers of fiat chrysler lowered on this news. a stunning force for the company. 3% of the free market as you can see. it is the top 10 movies were sequels. the top spot went to a surprise upset. >> i'm going to kill each and every one of them. the disappointment is iomega to do it once. >> equalizer to his starring denzel washington narrowly beat mamma mia which made her do for
$.4 million which beat the original film with $23.3 million rounding out the top five. feel free to have mamma mia stuck and you're the rest of the morning as i do right at this moment. dagen: do you know i'd beat the original? one word. share. despite her craziness on twitter. she speaks the language of room on twitter. >> this is a business program so i'd like to know how much havoc at each time there's a mamma mia movie. >> ask a question, researched the result. >> it was absolutely phenomenal.
>> this is the sequel to the original film. who would've thought. coming up, war of words with iran. president trump ramping up the tough talk of sanctions or reagan's dated next week. the stern threat max. the final frontier. how you can throw back a cocktail made with just a hint of extraterrestrial. ♪ insurance that won't replace the full value of your new car? you'd be better off throwing your money right into the harbor. i'm gonna regret that.
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dagen: president trump calling out after u.s. policies could lead to the mother of all wars with iran. he did tweet the president wrote to iranian president rouhani, never threatened again or you will suffer as. we are no longer a country that will stand for your demented word to violence and death. be cautious. all caps. this coming as the secretary of state mike pompidou is going out religious leaders addressing plans to impose economic sanctions. >> the ayatollahs are in on the act, too. more concerns with riches than religion. all kinds of crooked schemes become some of the wealthiest man on earth while their people suffer.
undertaken diplomatic pressure campaign to enrich itself and death and destruction. dimmick editorial director for the "washtington examiner." your take on this. >> president trump is everything untrue reminded that things don't go well. you probably remember saddam hussein promised against the united states but he was during the first gulf war he was dead after the second. what you are hearing here is the effect that iranians are feeling the strain of the end of the deal for president obama put in place. the united states and israel and arab countries are putting pressure on iran to undermine throughout the region. >> you think we get a new deal because again, new sanctions will go into place. i think it starts next month.
few american companies really stepped up to begin doing business in a significant way in iran after the nuclear deal from president obama because of his not ratified as a treaty and they assumed the next president because they could be republican would pull out enough that happen. >> european countries have made the calculation. do they want to do business with the iranian economy or business with a much bigger american economy. they are going to have to adjust and start scaling back and a bit us. of course there's the question of oil export. that could mean as much as a trillion dollars of lost revenue to the iranians over the course of the next 10 years. this is a really, really serious problem for the iranians that
the mullahs are losing support for the country. the country is fed up with you fiat received. the allies, the united dates come israel in countries that saudi arabia are increasing pressure to undermine the iranian regime. >> mature shell. they can made reference in terms of whether or not there's a new deal. if there was some sort of new deal, what with the foundation be? obviously much different, but his server broker framework for what it would look like? >> this obviously doesn't seem to me that the deal can be done with the iranians in the way that obama admin is ration it. the last thing the administration wants to do is show that in place.
i don't know if there's a deal that can be done acceptable to this country and acceptable to iran. >> just to clarify, the first sanctions are set to take place next month. it's on august the fourth, so it is coming up shortly followed by the measures that will target iranian oil on november 4th. that is why it is so critical that the united states has a growing oil supply that were increasingly energy independent. peer back is an incredible amount of leverage over someone like russia if it hurt her and cried. >> the united states became the biggest energy producer more than a year ago. the biggest oil producer as well overtaken saudi arabia then leveraged all over the world. president trump in europe a week
or so ago pressing germany and the gas pipeline from russia, putting pressure on them to buy energy from the united states. the united states has a much greater ability than the ever had to control the price of oil cannot the way it the iranians. >> there was also the report that we will give some of our allies in europe they pass on purchasing oil from iran. is that phil on the table because i've heard stories both ways. >> i've heard stories both ways, too. it's also been said that the november deadline is the deadline of the europeans will have to form. the more likely it is the europeans are going to have to scramble to get themselves in position. they don't want to have any sanctions that will prevent their access to the iranian market. >> all of this surely will be discussed with jean-claude
juncker, president of the european commission on wednesday of this week. europe has been talking about activating account for the earth central bank to keep this agreement alive. there is much to discuss. thank you for being here. pizza fight, and papa john's going to prevent the company's founder from gaining controlling interest after stepping down for using a racial epithet. we've got details on the so-called poison. turning into a tourist destination. a wise thing to help boost tourism. the ♪
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dagen: good morning, i'm dagen mcdowell if for maria bartiromo, monday july 23rd, top stories at 6:30 a.m. eastern. earning season if full swing. one-third of the dow and s&p 500 are to post result this is week, checking market action this morning, we have futures are slightly lower across the board but much news is coming down the pipeline to move those markets,
19-point loss on dow futures right now. on friday all three markets finished the day, little change. still up week for the dow and s&p. in europe we have declines across the board. stocks selling off in just a bit. the biggest loser cac quarante france half a 1%. in asia overnight, markets closing mixed. the nikkei in japan and kospi in south korea both lower. a board room battle heating up, why papa johns are adopting a poison pill to stop founder from gaining controlling stake in the pizza chain. that's ahead. plus hawaii is work to go bring business back after volcanic eruptions displaced residents. how the state could start a lava tourism business later this hour. and a alcohol taking inspiration from star trek.
>> it is alcohol substitute being served aboard ships. taste of alcohol but intoxicating effects can be easily dismissed. dagen: details of new liquor that contains vodka and award to producer who located that clip from star trek. [laughter] dagen: top story this half hour, technology in focus among the big names reporting earnings today, google's parent company alphabet, after the week the company was hit with fine by eu. ceo of salt financial. good to see you. >> good to be here. dagen: what are you expecting from alphabet today in. >> we are excited about google's earnings today. [laughter] >> it has shown a lot more life lately. it has gone from what we view as a calm stock only rising about
1.1% more than the s&p for the first few months to now actually showing more sensitivity and what we really look for are stocks and sectors that are sensitive to overall market because that's where we think investors can get an edge. >> volatile when we enter this year, it's been a theme, it's been returned to the market and i think a lot of individual investors have had a hard time dealing but the good news is it has resulted of decoupling of individual securities from the overall market, how do you take of advantage of that and is tech the biggest place to take advantage? >> tech has been certainly the big story all year. you look at performance, up 50% year to date versus, what, 5% for the s&p, so -- but if you will have a broader market rally, other sectors need to participate as well. certainly we all remember february, but if you look at last year, we all kind of fell
asleep, volatility was incredibly low and market was resilient and no sign of slowing down or going down, this year volatility has returned a little bit more to normal, i believe 12, 13 right now. normally around 17. we are still somewhat calm. dagen: where do you think is the greatest risk in terms of looking at industries that are overpriced right for volatility. i was looking at how the big tech stocks perform month to date and alphabet going into this earnings report still up 6%, it's not up as much say facebook, amazon or even a microsoft, microsoft is up closer to 8% but still got a really nice fat gain for the month? >> it's interesting that you mention facebook, that's going to report later on, i believe it's on wednesday. dagen: and amazon. >> just focus on amazon, the thing that's important for investors, particularly retail, only three ways to make money in
the market, selection, timing and overall allocation and facebook has been a relatively calm stock believe it or not, it had an issue in february, march, i believe, it brushed it off, hit new highs but it's not moving as much with the market and that's what we look for in terms of giving edge back to invests or to basically participate more in the up rally. >> alfred, if you want to look beyond tech names clearly driving the s&p, where are the places in the s&p 500, what sectors would you sort of rotate to if you are worried about some of how the names have gotten in. >> sure, we love financials and technology, three biggest sectors, we see the sectors way more sensitive to the overall market than some of the others and we think that's where you want to be exposed for this quarter. ironically energy was the big surprise, second quarter, i don't think anyone really called it out but it actually outpaced
technology, it was a 14% surprise gainer versus 5% at the same time, thinking about sectors, industrials, financials and technologies where you want to be right now. >> you think energy, though, because this is going a good quarter for energy. >> 11 billion-barrels a day. >> so the numbers should be really good. >> true, but then we saw some pressure on crude and we saw the energy trade slip away. if we are going to get into a balance and if we are going to have more momentum in the second half of the year, we don't see energy right now as the place to be. the industrials, financials and technology sectors right now are demonstrating to us the highest true beta scores. dagen: you mentioned industrials and are most vulnerable to trade fight that we have gotten into even our major trading partners
with the steel and aluminum tariffs initially, even the washing machine tariffs earlier in the year that kicked in january and now we are in this fight and so there's the greatest downside risk in industrials. i pointed out caterpillar and 3m are down respectfully year to date and we've got 3m, harley davidson and whirlpool coming with earnings this week. >> when we look at tariffs, 32 billion, you know, it's not a big piece of the overall economy, i think last week with the trump administration talking about potentially 500 billion, that's a different -- that's a different ball game, so it will be challenged. dagen: did the market react to that at all in. >> it flinched a little bit and didn't have a massive move. for investors to take market,
the market has become resilient and by that i mean in 20 plus years of the business, i have seen the market become better and better in distilling information, not getting actually being able to differentiate between sensationalism and substance and i think we is that true last week. dagen: what about the sensationalism and the substance about the president tweeting about the federal reserve and u.s. dollar and other currencies because secretary mnuchin came out and said, well, the president believes in an independent federal reserve in the past when you have presidential pressure on the central bank it down the road has created some serious problems for the country and i'm talking about run away inflation in the 70's. >> chairman powell i think did a great job with his testimony last week. i think what he demonstrated was a clarity in how he sees things progressing, it's very hard not
to be optimistic given how tremendous the job market looks right now. i think he's doing the president a favor by controlling inflation, you get the continue the growth. dagen: maybe the president -- we will see if the president is hearing that message because the wall street journal reported that he picked jay powell over kevin and john taylor because he was told that -- that jay powell would be more malleable. so, again, there's some expectation that there could be some executive branch control over the fed, but we will see what happens. good to see you alfred. >> thank you. dagen: thank you and president trump is tweeting this morning. so we now find out that it was indeed the unverified and dirty dossier that was paid for by crooked hillary clinton and dnc that was knowingly and falsely submitted to fisa and which was responsible for starting the totally conflicted and discredited mueller witch hunt. we will dig into more of that, but, again, those fisa documents
we leased, still redacted but released over the weekend and the president has been busy tweeting on that note and we will discuss it coming up. we will also talk about oil, all eyes watching the cost of crude with global trade worries, the president's threats to iran and chevron reporting earnings this week, busy week for big oil, plus giving moon shine a whole new meaning. [laughter] dagen: new star trek vodka that promises to be out of this world.
dagen: energy in focus, oil prices after third weekly decline in a row. joining us steven shorck, using tough language on that regime, what are you looking at in terms of driving oil prices today and this week? >> well, i tell you what, dagen, nothing like waking up as oil trader at 4:00 o'clock in the morning seeing tweet storm between trump, that will put a step right there and i can't imagine what iranians are thinking of, they are daring trump to release barrels from the reserve and i have been talking for the past two months actually since trump reenacted the sanctions against iran. you have two big factors that the bulls are counting on right now, dagen, first and foremost we had unplanned outage in
canada, so import from canada this summer, peak driving season have fallen to the floor, significant amount of bar riles over 5-week stretch, 31 million-barrel decline in u.s. crude oil stocks. we also have a situation oil here in new york harbor where you take delivery on diesel contract, where we are looking at supplies given the norresters that we saw in march and the yields from refineries, stocks at lowest points since 2000, trump outside of ego has two fundamental justifications for release of spr, so iranians ought to trend lightly in this case. dagen: when do you roughly, i think it's a little bit more than that, steven -- >> something like that. dagen: when do you back this
would happen? and you have trade tensions with canada and even méxico but canada which is a critical supplier of oil into the united states, when do you think the spr release happens? >> well, it's a possibility right there and it's certainly on our radar, at this point of the season and i think your prior guest said that he's not into energy right now, it's a good thought because right now demand has peaked for crude oil. we are at the peak crude oil demand season, in the weeks, months ahead, crude oil will begin to fall as we transition, we are also looking at gasoline stocks unlike diesel stocks, one of the highest levels for the month of july we have ever seen, right now the demand is falling, the big caveat, dagen, is the situation with geopolitics, watch twitter account and from
fundamental standpoint if we are going to see pullback in continued prices, we are at the point, command has peak and start falling in weeks ahead, we are going into the fall months looking at falling demand, rising production, so the coast is clear for lower prices, we have to wait and see and the one caveat out there as i said the diesel situation in new york harbor and geopolitical tensions with our friends over in tehran. dagen: i will point out in terms of you talking about gasoline stock highs, demand peaking, the national average for gasoline has been falling, 2.84 right now, that's the current average. that's higher than it was a year ago, but that is lower than it was a month ago, lower than it was a week ago as well. lindsey. >> absolutely. because what happens -- yeah, sorry, i'm sorry. >> i was just going say we saw
halliburton numbers and they missed pretty significantly, i think 41 cents versus 58 cents expected on the bottom line, what are you expecting from the energy sector as a whole, i know these are service companies but what are you expecting in earning season? >> yeah, no, i expect from both an up stream and downstream. i'm expecting another solid quarter. we have 75-dollar oil where the market is holding, we are significantly high frer oil perspective. certainly from demand perspective. so all of the people who want to complain they think gasoline prices are too high, if they are too high why is demand at all-time high, obviously gasoline prices are not too high, it's because the economy is much stronger, the stronger
economy leads commodity prices, they are following the economy and i would expect the earnings from this industry to follow in accord. dagen: same story can be said about interest rates too, stephen, good to see you my friend. stephen shorck, coming upturning the volcano into explosion of cash, next hawaii's plan to boost tourism by using the same lava that's damaging the industry. ing to watch your child grow up and especially get behind the wheel. i want to keep you know, stacking up the memories and the miles and the years. he's gonna get mine -but i'm gonna get a new one. -oh yeah when it's time for your old chevy truck to become their new chevy truck, there's truck month. get 18% of msrp cash back on all silverado 1500 crew cab lt pickups when you finance with gm financial.
that's $9,000 on this silverado. plus, during truck month make no monthly payments for 90 days. wells fargo has supported community organizations like united way, non-profits like the american red cross, and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day. so our communities can be even stronger. it's a new day at wells fargo. but it's a lot like our first day.
adopt a poison bill aimed to preventing john schnatter getting controlling stake in the company that he founded with one pizza oven, schnatter owns 29%, things may be changing now. shares of papa johns down 8% so far this year. well, this is fascinating, images of hawaii's kilauea volcano, big island businesses are asking for lava viewing site somewhere on the island but authorities haven't found a safe way to do this. pressures mounting from local merchants and tour guides who have seen tourism industry completely drop off on the island since it began erupting in may and that small town is
right near the volcano, it's the entry gate to volcano in that park. and then here is this, one company going where no man has gone before and making a star trek inspired vodka, ten forward vodka after spaceship bar that's featured in tv show. the company will show small vodka in atmosphere to ensure, quote, every portion of every bottle will contain vodka officially from space, blended an bottled here on earth, preorder for 29.99, yes, dagen, best star trek clip was featured at 6:30. dagen: i was impressed by that. a shout-out, apparently it's going to go into the mezosphere.
between 30 or 50 miles of altitude, i know how to use google very well. >> i know nautical terms and not space terms. dagen: vodka is vodka, though, isn't it? i wonder if they are paying loyalties to the estate of gene, just asking? uss enterprise. >> must be. dagen: lee, this is about branding. lee: it is a total gimmick obviously, but you know what, we are talking about it and what would be talk about vodka launch otherwise, i don't know. dagen: i would argue that star trek fans are more loyal and serious about devotion than star wars fans. lee: no doubt. people feel strongly about both, one way or the other, there's no doubt that they are more active in their support. dagen: do not insult star trek.
lee: no way. >> we don't have vodka, just water. dagen: you want me to tell the story when you're coming in this morning? what's on your mind? i'm still asleep. alarming number of millennials tapping into 401(k) plans to buy first homes, details next hour, mornings with maria. your insurance rates skyrocket after a scratch so small you could fix it with a pen. how about using that pen to sign up for new insurance instead? for drivers with accident forgiveness, liberty mutual won't raise their rates because of their first accident. ♪ liberty. liberty. liberty. liberty. ♪ stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level.
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dagen: good morning, i'm dagen mcdowell in for maria. it's monday, july 23rd. your top stories at seven a.m. eastern. earnings and focus, the busiest week for the second quarter reporting season. one-third of the dow jones and s&p 500 set to post results this week. we look at what the numbers and guidance say about the state of the american economy. futures are showing markets doing this at the moment, a 31-point loss on the dow futures after the major market gauges sent us little change on friday, the dow and s&p still managing to eke out a gain for the week, the nasdaq lore. in europe we have declines across the board to tell you about, the biggest loser in france down to-thirds of 1%. in asia overnight mixed action,
the nikkei and south korea both headed lower. g20 finance ministers heading a high -- holding a high stakes meeting over the weekend where treasury secretary mnuchin outlined the administration's priority especially when it comes to china. >> we want more balanced trade. both presidents agreed on the objective, and we want to have our companies have the same access to the their markets that they have to us. we want to have the right to protect our ip and our technology anywhere in the world with. that's not just china-specific. dagen: that's what the administration wants. will this country get it? the implications for the market and economy straight ahead. turning to the duck boat tragedy in missouri, the sunken boat set to be lifted out of the water by the coast guard this morning. the latest on the investigation coming up. a warning for some uber and lyft
customers, a driver in the st. louising area secretly recorded passengers and then posted those videos online. the fallout later this hour. and outrage at wrigley field. an adult fan steals a ball from a young fan, but the cubs intervened. this story has a happy ending. that guy can rot in you know where. all of that coming up this morning -- [laughter] lindsay bell, mitch rochelle and lee rt carter. >> what is wrong with people? dagen: lee, i don't know. i don't know. again, people say, oh, it's just outrage on social media and twitter. no, it's not, actually, we see bad behavior front and center right there in the ballpark. >> let the child have the ball. >> that's the cheer if you go to a ball game and an adult takes
the ball, everybody cheers give the kid the ball. dagen: well, everything worked out in the end. to our top story this hour, trade tensions taking center stage, president trump showcasing american products from all 50 statements today. the display follows escalating trade tensions with europe, mexico, canada and china, a battle that has american manufacturers wrestling with the fallout from trump's tear i haves. joining me -- tariffs. joining me now, gordon chang. this even follows the threats to impose tariffs on all $500 billion worth of chinese imports into this country every year. the commerce department had a harding last week about imposing tariffs on awe eau imports. that still remains to be seen, but how much retaliation can we expect from china? how dangerous is this to the
united states economy, do you think? >> well, the chinese will retaliate but, you know, first of all, they've run out of bullets. we only export to them $130 billion or something, and we take from them $505.5 billion last year. a lot of people say, well, the chinese can retaliate against u.s. companies in china, but chinese officials don't want that to happen because they're worried about the effect on the europeans and others who are investing in china, and they think that could really boomerang on china and hurt beijing much more than us. dagen: treasury secretary steve mnuchin amplified president trump's trade threats in argentina over the weekend at that g20 meeting of finance ministers. the secretary said this, quote, that he wouldn't minimize the chance of the u.s. imposing tariffs on all -- its half a a trillion of chinese goods that we import into the united states, but he still promises a light at the end of the table.
listen to this, and i want to get your reaction. >> president trump is determined to have free and fair and more balanced trade, and we just want to make sure american companies and american workers are treated fairly. and, yes, i do see a light at the end of the tunnel. dagen: how do you think this plays out? do you think it doesn't get to the point where we do slap tariffs on all imports coming in from china. >> that's a real possibility. this is for the theft of the u.s. intellectual property. after that investigation into china's thievery. so, yeah, we call this a trade war, but really this is about a remedy for thievery. it has trade implications, but we've got to do this, dagen, because the chinese take hundreds of billions of dollars of u.s. ip a year. this is just unsustainable. dagen: then why didn't we crack down on chinese companies buying
entities here in the united states and then the technology exports into china? instead we kind of took a little bit of a lighter touch with the increased cfius restrictions or committee on foreign investment in the u.s., that was more what secretary mnuchin wanted, that's what congress is moving to do. they actually came out of conference last week with how that would be applied. they basically strengthened cfius. why tonight we take a harder approach on that note? >> because we are americans and we are so give yous and have been for -- so oblivious and have been for a very long time. started the last year of the obama administration, president trump has blocked two or three acquisitions under cfius. this is going to be something we're going to see much, much more of. yes, people don't like tariffs, but now we're starting to think about the alternatives. it could end up being sort of like an import ban.
if we're looking at gods that have been benefiting -- goods that have been benefiting, there's all sorts of things the administration can look at. dagen: does this administration need to start talking about how this is going to play out in the u.s. economy, more specifically say, hey, half a trillion worth of imports, if you buy anything made in china, you're going to pay more for it. hey, farmers, you've got 2.5 billion pounds of meat that's piling up as exports slow to these nations, soybean farmers that are getting hit. there is going to be pain, and it could be widespread, but does this administration need to be the really frank with the american people about this? >> well, it certainly does. and, you know, president trump has hinted about the pain. but clearly, you cannot have decades of really bad trade policy and policies on ip theft and not expect that the u.s. isn't going to suffer at all. we are going to suffer, but we actually have to do this because of the scale of china's perdition.
>> so there's a lot of people out there who are saying this is a game of chicken and that, ultimately, that the chinese are going to have to give something up here. how long do you think it's going to take that we're going to be feeling this pain until there's some movement? >> you know, we could be in a decades-long struggle with china. you know, when the treasury secretary talks about having equal access to the chinese market, that's just ridiculous. the chinese system is designed to prevent access of foreigners into china. and under xi jinping it's become less open than it was before. is, you know, this is going to be a long-term struggle. so we can be in this for a very, very, very long time. >> china's devaluing their currency, they're releasing reserves from the banks, and they must be feeling the pain already from these early moves on trade. what brings them to the able? >> i think when xi jinping realizes there's no more chinese economy left, that's when you get to the point.
now look -- dagen: we have that power? because, again, if we want to take more power -- >> it's easy. dagen: -- then we stop running $1 federal annual -- $1 trillion annual budget deficits, that we stop the spending so much money and we don't have to lean on china so much to buy our debt because we're not, because we can try to control spending. >> yeah. i don't think we have to worry about the debt. the one thing, president trump really wants to hurt the chinese economy, he just louded chairman powell to -- allows chairman powell to the raise rates. that's affecting the chinese economy. money is coming out. and, you know, you go back to this whole thing about the currency, i don't think china is actually devaluing its currency. it's tumbling, it had its worst month ever last year against the dollar, but the chinese people are not expressing confidence in their own currency, and i think beijing is trying to prevent the fall rather than encourage it. down the road i could see
beijing changing tack and forcefully driving down to help exporters, but they're not doing that now because they're so worried about currency outflow which almost killedded the economy in 2015 and 2016. >> just from a capital markets perspective, we've seen money flowing out of chinese equity markets. we're also seeing less money domestically in infrastructure, in capital expenditures of their companies, so is this beginning to happen? and does their administration realize their economy's starting to get shaky? >> yeah, i think the chinese do understand that. you have -- [audio difficulty] look, we cannot sustain a long-term struggle with the united states. and right now you're starting to see real signs of stress in the chinese economy whether you're talking about the tunnel the bling stock markets, you know, the currency that looks like it's in the early stages of collapse. all the debt defaults. the problems with the peer-to-peer lenders, it just goes on and on, mitch. i don't know if xi jinping has
any answer pent to take on more debt, and chinese are saying, no, this doesn't work. >> but if they continue to take on more debt there, do they have the wallet to buy our debt? because that could drive our interest rates even higher if there's no bid coming from china for u.s. treasuries. >> yeah, you know, china's going to have sell dollars to support their currency. they've been doing that up til now, they're going to have to do that because of their own internal problems. you know, china's going to do what it's going to have to do because their economy's at the point where, you know, anything -- if it goes wrong, could trigger the crisis of confidence that we saw three years ago. teag deag if we're getting tough on china, why didn't we stick by that ban on zte in this country? it appears the sanctions put back in this defense bill were stripped out again. >> amen to that, you know, we should not have given them relief are. administration officials don't talk to me, but my guess is this wednesday there is the deadline
on qualcomm's deal to buy nxp, the semiconductor company. that deal will be held up if china does not give approval. my guess, dagen, and this is just pure speculation s is that the administration gave relief to zte so that qualcomm will get that approval for the acquisition. i don't know, but it makes a lot of sense to me that you could have a tit for tat sort of we'll do something more you, you do something for us. dagen: we've got $34 billion in chinese imports right now that have tariffs on them, that they've retaliated dollar for dollar, if you will, another $16 billion coming, an additional $200 billion. do you think the united states puts a tariff on every dollar worth of imports into this country, more than half aing trillion? do you think that happens? >> i think we get up to maybe $400 billion is just my guess. and this is nothing that i know, it's just sort of thinking about it, that president trump will actually go forward with the
200. i don't think we get to the whole 505.5, but we're going to get very, very close are. dagen: and there's really no way to truly know how china retaliates. >> yeah. xi jinping is a tough guy. larry kudlow said a couple days ago, look, the chinese officials want to deal with us, but xi jinping is saying no. this has become very, very political. they're coming into their august conference, the chinese communist senior officials, they're going to be talking about this. this is the number one topic on their agenda because xi jinping now owns this crisis. dagen: how quickly does this show up when people go to a store and want to buy something? can they find out or do they have to pay for more it? >> i don't think there's a problem. china is no longer the low cost producer. the only company that can't shift production on a dime is apple because they're stuck with foxconn, foxconn is in schoen
general and other locations in china. apple can really get hurt because they're going to be the number one target that the chinese officials are going to look at. yeah, they might like tim cook, but tomorrow they see he's the weak point in the u.s. economy. dagen: gordon chang, good to talk to you. coming up, caught on camera without knowing it. uber and lyft dropping a driver nor live streaming passengers. the fallout for the ride-sharing apps and the users captured on live video. plus, a happy ending for one young cubs' fan. the chicago baseball club stepping in after a grown man steals a foul ball from a child. we've got that story ahead. ♪ at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade,
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dagen: the duck boat that in a missouri lake last week set to be raised this morning. cheryl casone has the details. >> the u.s. coast guard plans to begin recovery efforts at about 9 a.m. local time. the duck boat sank thursday evening killing 17 people onboard including 9 people from one family. they're going to take the boat to a secure facility as a part of a federal investigation to find out what happened. well, more than a dozen ritz cracker products are being
voluntarily recalled as a precaution. mondelez says whey powder may contain salmonella. no reports of illness so far. here's a look at the products which have expiration dates from january to april of 2019. if you like your ritz bits cheese, your cheese cracker sandwiches, the whole wheat cracker sandwiches, on and on, there's a list for you. shares of mondelez down 1% so far this year. well, we are learning more about the upcoming ipo of sonos. the company expects to price $13.9 million -- 13.9 million shares between $17-$19. they lost $14 million last year but still a highly anticipated ipo. meanwhile, cushman and wakefield setting its ipo terms at $16-$18 per share for 45 million shares. a couple of big ipos we're
going to be watching, for sure. all right, michael jackson's first solo hit was an ode to a rat, "ben." ♪ ♪ >> okay. so this is not that story. the city of chicago was just named the rat capital of of the u.s. there are more than 50,000 reported complaints last year, a 55% jump from 2014. the windy city topped every other city in the country even, yes, folks, new york city, notorious for subway rats, pizza rats. we logged nearly 20,000 complaints last year, dagen, so still 20,000 complaints in the city. yes, chicago, rat capital of the country. good morning.
dagen: do you know why i love snakes? they eat rats. i love snakes. >> you know, bring me the rat. [laughter] dagen: release snakes in new york city. >> oh, not. dagen: yes. let the them just eat the rats. >> how about schnauzers? don't they chase rats? dagen: but snakes will eat them. yes, exactly. >> i'm onboard with dagen. dagen: nothing -- >> i don't want snakes. dagen: nothing makes my skin crawl like a rat. having had rats run over my feet here in new york city and having seen -- [laughter] having seen a trash can full of about 100 rats on my street corner -- >> no. dagen: oh, yeah. >> too bad we don't have a tight shot on lee's facial expression. [laughter] dagen: i have walked up on a trash can full of about 100 rats in new york city. [laughter] >> oh, no. dagen: coming up, profitability problems. tesla now reportedly asking suppliers for refunds to help it
stay afloat, or essentially. we're taking a look at the latest headache for the electric carmaker, ahead. plus, risky home buying, the shocking number of millennials raiding their 401(k)s to buy homes. i say that is not a bad thing. we've got that story after the break. ♪ ♪ my father passed this truck down to me,
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more money problems for millennial, members of this generation opting to raid their retirement savings for a down payment on a home according to a new survey from bank of the west, nearly one in three say they borrowed against their 401(k) or ira to buy a home. financial advisers say it could put their retirement at risk in the future. one of them said this, quote: tapping your 401(k) to buy a home should be a last resort, millennial home buyers should exhaust all other funding options first. roth iras allow penalty-free withdrawals of up to $10,000 for first-time home purchases. home ownership is a priority for millennials who say, hey, it's a good financial investment. dagen. dagen: but, gerri, here's or what i'll argue. if you actually borrow from your 401(k) and your company -- it's up to whether your company allows it -- it doesn't trigger as long as you begin to repay
it, you don't have to pay the penalty and you don't have to pay tax on it. you can take your own money out of your 401(k) plan, and it's automatically repaid through paycheck deduction. >> and the problem with that, okay -- dagen: so you think there's a problem? >> yes, i do. dagen: i know plenty of people who have done it. >> everybody does it. 20% of folks have a loan out against their 401(k), but when you take that money out, it automatically reduces your take-home because you're paying that back immediately through rules on, you know, your income, right? secondly, you're probably going to end up selling high and buying -- or buying low and selling high, because you'll sell when the s&p is at one level and by the time you're ready to reinvest again, it'll be at a higher level. so is it's just a recipe -- >> well, and you give up compound interest. >> that was my next point. dagen: my issue is it's your
money, and it's a way to access it without paying an irs penalty, without paying tax on it and without having to go to your parents or relatives to borrow it. i would rather owe myself than owe mama and daddy because you know they'll be -- >> nobody's advocating borrowing from -- save it yourself. dagen: if i need an extra $10,000 to get this down payment because, again, the higher the down payment, the better the terms of the loan. >> t. rowe price showed in a survey that you buy $10,000 from that 401(k), that's $100,000 at retirement. people who tend to borrow once tend to borrow multiple times, and i think that's what people want to avoid. when you look at the new changes they're going to make to a 401(k), they're going to make it even easier. >> how people are buying their first-time home, people aren't buying starter homes and working up, they want everything all at
once. >> right. >> there's a total shift -- dagen: by the way, these money managers are going to tell you it's a bad idea because it means less in fees if you take the money out. >> listen, i'm not going to defend 401(k)s and the way these things are managed because they do charge ridiculous fees. you can always do an ira if you don't get the match, but you do want that free money. look, it's not a perfect system, for sure, but i just think the last thing you want to do is make your life in your 70th year worse, right? dagen: but i don't think it's worse be you have a nice home that's completely paid off. and particularly if home prices are low and you want to get in, it's like now is the -- >> you know what i like about what you're saying? it sounds like you think homeownership is a good investment. >> i do, ultimately. i think that it's better than renting and not having any vested interest or any actual financial interest where you live. and another -- one critical thing i'll point out about when you do borrow from your 401(k), if you leave that job, that
money has to be repaid -- >> that's right. dagen: -- very quickly. it's a very short window. >> two months, 60 days. do it inside 60 days, and there is hell to pay if you don't make it. dagen: the irs isn't going to come after you -- >> fingers crossed. dagen: no, you have to pay the taxes and poem mys on it immediately -- penalties on it immediately. again, it's your money, and you're paying yourself interest rather than borrowing it from somebody. >> i still don't go along, i disagree. buy a starter home. not the best way to fund a house. dagen: with your borrowed 401(k) money. [laughter] we'll submit it down the middle. gerri willis, good to see you. coming up, fisa uproar. why some members of the president's own party are calling on him to declassify even more of carter page's surveillance warrant application. plus, the chicago cubs
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t monday, july 23rd. another big week for earnings. we've already heard from halliburton this morning, beating on revenue. the stock is down 2% right now. it was a big miss on the bottom line on its earnings per share. toymaker hasbro out with better than expected numbers as well. today we're going to hear from met gear and whirlpool. whirlpool will be interesting, not really benefiting from the washing machine and tariffs. and google parent alphabet is out after the bell among others. futures are showing this happening to the markets right now, 21-point loss on the dow futures after not much movement, mostly flat lines on friday in the market. the dow and s&p still managing to eke out gains last week with. in europe the markets are heading lower this morning. we have losses across the board, the biggest loser in france down two-thirds of 3%. and -- 1%.
and the nikkei in japan off more than 1%, south korea also lower. more moves on the investigation into the surveillance of carter page with new documents coming to light. judiciary committee chairman bob goodlatte stressed the importance of these documents with maria on yesterday's "sunday morning futures." >> i think it is critically important that the american people have the opportunity to see most of the rest of those documents. most of the information that is redacted in that report should easily be seen by the american people. they can judge for themselves, but i will tell you it does not support the issuance of a warrant. dagen: the hits just keep on coming for the tesla. the automaker's shares losing more than 3% as the company has reportedly asked suppliers for money back to turn a profit. we've got the details. uber and lyft both pumping
the brakes on one driver in st. louis. this driver secret andly scream ared videos -- secretly streamed videos of his passengers to social media. the outrage ahead and what price will that driver pay. to our top story this half hour, the fisa bombshell. the the department of justice releasing the documents behind the warrant of carter page, heavily redacting information. president trump tweeting this morning on the release, dowling down on his calls of the witch hunt, writing this: so we now find out it was, indeed, the unverified and fake dirty dossier that was paid for by crooked hillary clinton and the dnc that was knowingly and falsely submitted to fisa and which was responsible for starting the totally conflicted and discredited mueller witch hunt. here's how bob goodlatte racket reacted yesterday on "sunday morning futures" with maria. >> democratic operatives related to the clinton campaign and the
democratic national committee paid for the creation of the so-called steele dossier and turned it over to the federal bureau of investigation. what's so unprecedented is that the fbi then took it, weaponized it without ever verifying its credibility and brought it to the fisa court without disclosing the source of that information. that is deeply troubling. dagen: joining us now,, criminal defense attorney, fox news legal analyst mercedes kohl wynn. your thoughts on the release of this fisa document. again, an unvetteds do share paid for by the democrats. >> there are other provisions of that application. one of them, of course, is the fact that carter himself had begun and said that he was an informal advisor to the russians. so that certainly is something that the judges could have hung their hats on. they also talked about the fact that he may have had discussions with these russian officials. so there's other things that the
court could have latch ared on in -- latched on in terms of this application. not just the dossier. so there are other issues that have come up in that application. and, frankly, there is a lot of opposition to that application because, one, that's a lot of redaction, so we don't know the full breadth of what the application stood for, what the judges read in its entirety. and, two, the fact that the dossier was part of the application is troubling to many individuals who say, look, this should have been fully vetted before it got to the judges. dagen: you evened had jim comey who had the audacity to look at brett bare and say -- bret baer and say i don't know who paid for it. >> well, sure. now, of course, we know that this was paid for, so obviously it's compromised. and the fact that it was in this application is troubling to many people. dagen: mitch, i should clarify that, he said he only knew who paid for it, it wasn't actually running the fbi, that they didn't bother to find out who
paid for it, he'd read reports that the clinton campaign had paid for it. >> mercedes -- >> and, dagen, anybody that comes forward and has an application for wiretapping, it is such an extreme measure that when you make these applications, you have to fully vet the information that you're providing to the judges. and that's what's so troubling to everyone, because this is an extreme measure taken by the doj. >> mercedes, the documents that were released were heavily redacted, i don't know that i've ever seen a document so redacted. >> right. >> one of the things judge napolitano's talked about with us is potentially are going to a judge and letting a judge read the unredacted version, do you think there's going to be any possibility of getting that done? because if we want transparency, we certainly don't have it right now. >> that's a great point, and a lot of things can happen in camera where the judges can read this in privacy. it's not published to the public, and it is critical especially when you're talking
about issues of this magnitude when such extreme measures are taken in terms of wiretapping. that is the most extreme measure that can be taken when it comes to these types of investigations. so certainly, that could be done. >> i'm really curious what you think. this weekend the left is acting like something great happened, and the right's acting like something great happened, but did we really learn anything new at all? >> frankly, not really because there are extreme redactions done in the application. two, carter page's already in the crosshairs of the doj in terms of what he had already presented. by his own admission in 2013, he had written that he had informal advisor to the russians. so he was already in that universe. he was already -- i don't want to say targeted, but certainly he was already looked at by the doj because anyone that may have these informal ties to russia would necessarily be in that
realm of at least scrutiny by the doj. so we've already -- he's already in their crosshairs. and once he started orbiting close to the trump campaign, that's when, of course, it piqued their interest even greater, and that's when they moved forward with with the wiretap. at least the application for the wiretapping. dagen: mercedes, chairman goodlatte also confirmed that former cia director john brennan will be called to testify. listen to this. >> we have lots of questions for john brennan, and he will definitely be sought by the committees for an interview. this is an extremely disturbing thing, to see both he and james comey -- supposedly impartial government officials -- carrying out their jobs in very important areas in intelligence gathering and law enforcement express the kind of extreme bias that they've shown now which i think reflects quite accurately on what they were doing back in 2016. dagen: mercedes, could brennan face legal ramifications for his
role in the surveillance? >> well, certainly if there is any indication that he had lied to -- within the process, certainly he could face prosecution. so it really depends on what representations are made in the past, what representation he's going to make once he testifies, and les always the specter -- there's always the specter of perjury, which is lying urn both. dagen: and he has acknowledged that he's egged on the fbi's probe in russia. that was in a "wall street journal" editorial last friday. turning to the supreme court, majority leader mitch mcconnell is said to be willing to call democrats' bluff on nominee brett kavanaugh, let the vote slip until right before the midterm elections. do you see any way kavanaugh is not confirmed before or the midterms in november? >> i know there's going to be a lot of push. the democrats are seeking over a million pages of documents, so it certainly could last beyond the midterm elections, but there's going to be a tremendous
push to put him forward, to have a vote. there's going to be a lot of that. but it all depends on how much information's being sought by the democrats. and, frankly, at this point it's unreasonable in terms of how much they're seeking. dagen: and i want to point this out, because you raised this issue. brett kavanaugh, i'm talking to lee carter real quick, this is one of the reasons the president's approval rating has held up so well and actually ticked up. >> that's absolutely right. the republican base continues to support this president even when things are not going great with him. they're saying the most important thing to me is the supreme court, and they're laser focused on it. i'm fascinated to see though, if they don't get this done, is it going to energize democrats? because they haven't had anything to vote for for so long, a lot of resist, not a lot of things to vote for. people are wanting to support for gay marriage, roe version -- roe v. wade, but asking for a million pages, that is
obstructionist, that is sending the -- something the american people are not going to favor no matter where they sit on the aisle. i think that the democrats have got to start moving things forward and get to stand for something. dagen: mercedes, i'm going to give you the final word. >> and it's also disruptive to the supreme court. we have a vacancy that needs to be filled. so without that filled, you not have decisions necessarily rendered, because it may be a 4-4 split. you need that deciding vote, whichever wait it swing -- way it swings. dagen: the democrats would love that, doing a whole lot of nothing. they're good at it. mercedes cing olwin, great to see you. thanks for getting up early. coming up, uber and lyft dropping a driver for live streaming passengers. the fallout ahead. plus, profitability problems. tesla now reportedly asking suppliers for refunds to help it turn a profit. the latest headache for the electric carmaker. look at that stock drop.
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dagen: uber and lyft under fire again,s time for a driver who was secretly live streaming passengers. cheryl casone has the detail on this appalling story. >> it really is, dagen, thank you. uber and lyft under scrutiny after a driver for both companies secretly live streamed passengers' trips. a st. louis newspaper says the driver recorded hundreds of passengers' rides to the live video web site twitch. that driver has been suspended by uber which calls the behavior troubling. lyft says it also has stopped using that driver that you see on your screen, by the way. okay, tesla reportedly asking some of its suppliers to
return some of the money it's paid them. "the wall street journal" reports the request for refunds is part of tesla's plan to turn a profit. yes. tesla's ceo elon musk tweeted only costs that apply to the third quarter or and beyond will be counts. shares of tesla trading sharply lower in the premarket, down more than 4 president. and finally there is this, dagen, just for you. a video that's going viral of a dog caught on camera howling the exact tune of a britney spears song. you may know it. ♪ ♪ >> okay, right? >> i hear it! >> don't you hear it? i think it sounds identical to the springs part of the song "toxic." here's the real song. ♪ ♪
[laughter] >> somebody had fun editing this morning here at fox fox busines. anyway, the newfound faming has made the dog, named riley, a social media star. it's been seen more than four million times. dagen: the producers are crushing it -- [laughter] >> thank you, ellie. dagen: my eyes are watering, that was -- [laughter] that mash-up! it doesn't get any better than that, cheryl. [laughter] although i think you'll agree with me, you kind of -- it's cute, but you kind of hope your own dogs don't make that sound, can you imagine if that was your dog? [laughter] that was terrible. >> or your neighbors' dogs make those -- >> there you go. dagen: exactly. you have coconut and cannon. they don't make those sounds, do they? >> they don't make those sounds, but kevin does think he's a doorbell. if he hears anything, he's
like -- dagen: barks? yeah. if you pick charlie up and he doesn't want to be picked up, he groans. [laughter] enough. coming up, crying foul. the chicago cubs step anything after a grown man steals a foul ball from a little boy. we have that story in sports after the break. ♪ ♪ is is not a bed. it's a high-tech revolution in sleep. the new sleep number 360 smart bed. it intelligently senses your movement and automatically adjusts on each side to keep you both comfortable. and snoring? how smart is that? smarter sleep. to help you lose your dad bod, train for that marathon, and wake up with the patience of a saint. the new sleep number 360 smart bed, from $999. smarter sleep will change your life.
check out what happened at wrigley field sunday. cubs base coach tosses a ball to a fan, the dude in the row behind says, hey, mom, look what i found, and i'm not giving it back to the kid. seriously are, the guy just takes the baseball. so the cubs make it right. not only did they give him an official all-star shortstop halvier baez signed one. no aitalian-born of golfer had ever won a grand slam, molinari, not one bogey. his birdie on the 72nd and final hole secured a two-shot victory. while tiger woods was one of seven golfers who held the lead yesterday, first time doing so in the final round of a major seven years, tiger double bogeyed on 11, bogeyed on 12, finished 3 back tied for sixth. also in golf yesterday we take a
look at the leaderboard. francesco molinari wins it by a couple of strokings. rory mcilroy finished tied for second, jordan spieth was tied for ninth. near 61-year-old ben hard langer finished 1-under, the same score as phil mickelson is. tom brady and the a patriots open training camp today and tom brady, obviously, still has it. watch this. with wes welker on the back of a golf cart, watch brady hit his target, and he doesn't even look. he's like a baseball player who takes the swing, and it's just gone. so he's all set. tom brady ready for training camp today. dagen: yea, tom brady. let's talk about the grown man stealing a ball, a foul ball from a young child. >> yeah. when i was young, my grandfather used to take us to yankees' spring training back in fort lauderdale, and somebody leaned in, and my grandfather stood and
said, hey, what the hell -- and we got the ball. i saw that story, i said, yeah, that brings me back. >> i just can't believe the fans around didn't do anything. give me a break. yeah, give the kid another ball, but seriously? that man ought to be ashamed. >> is that -- see, the person who he's there with, you would have thought she would have been, give that ball back. >> no, she's taking a picture of it, posting it to instagram. >> well n today's world both of them at their job, their colleagues will shame them on twitter, and they'll never be able to -- dagen: that is not a cubs' problem, that's a jerk problem. an individual jerk problem. >> apparently two. dagen: yeah, but the cubs made it right. >> unbelievable. the line between tiger not winning and tiger winning, very small, three shots. had tiger won that event, and for me he's just about there, today it's the biggest story not
only in sports, but probably in the news. it's the amazing story of a comeback that i believe is inspirational. yes, the man has faulted, and he's paid his price, but it shows even when you're the absolute best, the greatest at what you do, the unbelievable fight that it takes, the determination, what it takes to grind and come back to still be the best, and tiger is just about there. dagen: what tournament's after this? >> he's the fourth favorite at the pga chops. dagen: pga championship, there's one more major left. when is that, do you know? >> in august. dagen: okay. we'll find out when that is. people want to see if he can follow through. they're rooting for him -- >> he's been building. >> you know whoo? there's the playoffs which he probably won't qualify for -- >> yes. >> but beyond there there's sort of the fall finish, and there's a lot of tournaments that don't have the level of players in them. i say he's going to win something before the end of the calendar year. >> and then watch out -- dagen: you know what? i'm not betting you on that.
i'll just say yes, sir. jared, thanks so much, still ahead calling all superman fans, you can now own a phone booth inspired by the man of steel. we'll tell you how much they're going for. that is all in the next hour on "mornings with maria. ". ♪ ♪ year, i am sorry about that. [music playing] (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models during summer of audi sales event.
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. dagen: good morning, everybody. i am dagen mcdowell for maria bartiromo. monday, july 23, top stories 8:00 a.m. eastern, earnings in focus, it will be the busiest week for the second quarter reporting season one-third of the idols idols and s&p 500 post results this week we look at numbers and guidance about the state the united states economy. we get the reading, the first reading on second quarter -- on gross domestic product on friday 3-point gain on dow markets searching for direction after dow s&p managed to eke out small gains last week. although that was your friday close, it was small losses across the board on friday. >> and moving on check on europe declines across the board. but contained biggest loser cac quarante france down half
1% right now in asia overnight, mixed markets shanghai composite, hang seng heading higher nikkei and kospi ask, suffering losses, tragedy in toronto, the death toll rising in last night's deadly shooting rampage a gunman killing at least two, and injuring a dozen others. >> i heard at least 20 shots in intervals. >> being spent, i saw at least four people shot by the fountain. >> a street people walk every day for groceries to have dinner an ice cream sit in the square, enjoy summer. and -- it is absolutely devastating. dagen: latest as authorities work to find a motive. war of words president trump threatening iran with severe consequences if that nation does not take a cautious tone with united states unexpected change at the top of fiat chrysler, the automaker
replacing ceo after he suffered complications from recent surgery. the change means for the future of the company. >> making a private call, with a superhero twist one creating a cubicle with a superman theme first time in decades oh epachief scott pruitt gone could have gotten that phone booths this his office all of that so much more this morning cfra investment strategist lindsey bell, former white house press secretary seen sizeer, and lee carter spicer has a new book. >> you've got a copy of it. dagen: not signed i don't know about that,. >> it will be it will be. dagen: briefing we are o going to talk about it coming up politics to press, and the president. and maybe the president will tweet some this hour we can
get your -- [laughter] >> o probability is high. dagen: mr. president, let's ramp that up to top story this hour on trade with china. president trump will host a white house event showcasing american products from all 50 states, today, following his threats to impose tariffs on all exports out of china to u.s. talking more than 500 billion dollars annual imports steve mnuchin am replyfying saying he wouldn't minimize the chance of this actually happening, and adding that if europe believes in free trade u.s. is ready for a deal. joining me now is ohio congressman, a member of the house ways and means committee house budget committee first did i proo announce your name correctly. >> you did. >> all right your take on president trump's trade
threats and have you heard concerns from your constituents? >> well a mixed bag, as i talk to constituents they always say look, we are a little concerned but want you supporting the president, and it is interesting i have had everybody from if soybeans, you know the agriculture industry into my office to manufacturing just last week i say what do you want me to tell president i have opportunity to sit with him what would you rather i say. >> we are concerned but we want to you support him we realize, you know we have to go through this process, it is amazing because you can't get a straight answer, even soybean manufacturer growers i said tell me they come in say they are concerned. i said what would your if you had a chance to sit down with him what would you say. >> their business is being hurt because they because the concern but once people start feeling real world impact on livelihoods it might be different. >> they are feeling it told me feeling it but also understand, the need to be able to go through this, they
opportunes president's negotiating that is what i tell them we are in negotiations phase get through negotiations, i have had opportunity to sit with the president where he says i am worried about children and grandchildren some point in time, you know we need to make sure that we are working through this, and give me sometime, that is what i tell them. >> how much time do you think they will give him? >> it is going to be interesting i say that i asked that question. >> they said, how much time do you want to give them they said look at you know four, five, six months see where we are at. >> feels like if you don't do anything they suffer consequences of chinese economic policies if you do do something short-term pain i think that is trying to figure out you where that balance is. >> i tell them short-term pain long-term gain the key like anything else we have to go win to do that. >> we are talking to gordon earlier he was saying this isn't going to be short-term pain this could be 10, 20 years, long game the convey chinese play. >> we have a long game the chinese have been doing this to is for so many years now time to go through this process, look, the most
powerful message i heard from president he said i don't want our children and grandchildren on knees begging in the future we have to be willing to work through this. >> i think saw in "the wall street journal" poll that came out people are not necessarily happy with how dealing with trade, but, overall, rating going up because i think, that the stock market, and also, you know manufacturers soybean growers the like, whole country, thinks this is a negotiating tactic going to end well, the problem is when does it end. >> i think also really, really important, point that if you can you can be concerned, and want to support the president at the same time. i think a lot of people have missed that, because, you think that if you into are the president you support him blindly, i don't think that is the truth i think most people a lot of people in the middle depending on the issue. >> i think, that people have been told, for a long time that policies going to change finally see president fighting for them willing to given them latitude to see where this ends up.
>> listen i have been from -- one very concerned about tariffs that have been slapped on starting with washing machines particularly steel and aluminum tariffs retaliation from some trading most important trading partners allies. but the messaging i want to hit on this, because the messaging from day one when peter navarro as on this program quizzing me when i wasn't on set how much is cost of six back of bergoing up "the wall street journal" wrote an editorial last week saying peter navarro was a rounding error their take he is out of touch there are a number of there is a -- a pipeline builder in texas, that wanted a steel a waiver from the steel want to steel tariff exemption another pipeline producer as well, they didn't get them. and it is going to cost it is going to hurt because they are going to dlie investment in -- >> construction, industry as well term of cost whether a
beam or screw things going up costing people money the question i think, that we are asking congressman how long how long will team tolerate they want the fight seen chinese economic policies, adversely affect our economy workers too long willing to give the tournament i think latitude for a while the question is how long. >> i say the same thing but i always tell them let's judge this president you get a chance to a judge president a couple more years in election, so judge him then not judge him today let them go through negotiations. dagen: you guys people going to the could also polls to reto elect you come november on that note let's talk about tax cuts 2.0 the house is working on, revitalizeing the economy second round big part of gop plan to retain control of the house here is what conceive scalise told maria yesterday morning on "sunday morning futures". >> the plans to continue focusing on gets the economy moving, seeing he this great
economic growth, and locking it in we're going to bring some more bills to cut taxes going to make the tax cuts permanent that bill chairman brady committee working on we did a jobs 3.0 bill, to provide more regulatory relief create more jobs rebuild middle class. dagen: is it enough for you as people head to the polls if house passed that? and the senate already showing resistance to it. >> i can tell you in ohio, tax 1.0 is working. companies are now reinvesting, i had a company went from 70 to 140 employees already companies talking about expanding, they are also giving bonuses to employees raising rages is a travel ohio people are very happy if we lock that in positive are the only reason not locked in gimmicks in washington i am business guy chuckle at some gimmicks we couldn't lock in it because of this rule or that raoul lock it in uncertainty predict i think
the second thing talk savings i think another issue, a lot of people bauk in ohio getting more more than in pockets we need to make sure they save it use it for their whether it is education, whatever, so those that is what 2.0 is going to be all you about i think can be best explained that way when i travel the state. >> i think the other thing look elections are binary choice not just what jim is for it is what brown isn't for the contrast ohio voters are going to today is not just are you going to keep more talk about economic expansion it is what sherrod brown isn't going to do to help ohio businesses families pretty much. >> that is true too total opposites running against somebody didn't support the tax cuts bill. >> not one democrat voted for the tax cut but were upset, you heard from nancy pelosi then upset that individual tax cuts weren't permanent worried about debt deficit all of a
sudden, so which is it? you don't get you don't get to say because you didn't vote. >> right, again, here is the issue for me, i came as a businessman look at numbers 85% of our deficit things unremitted to the tax cut, and tax cut if it grows economy it is doing sustained are getting over 3% will pay for itself grow economy pay debt down that is key. dagen: we are going to get first reading on second quarter growth. >> it is going to be likely north 46% "the wall street journal" estimate is 4.2. the gdp now from the atlanta federal reserve bank, is 4 1/2, coming out of white house north 4 1/2, does that stick with people does that -- the number resonate or are they feeling that. >> i think they are feeling it we just discussed earlier in the show, the consumers every day people working class people are feeling the benefits this their paychecks, feeling better, you know we
have the most jobs available out there with the lowest jobless rate, that we've seen in almost 20 years, the consumers feeling good confidence remains high so -- >> you see that in "the wall street journal" nbc news poll that found half of registered voters approve of the president handling of the economy highest mark on that question in the survey, that same poll found that president's approval rating edging higher even during the week, lee carter, when he came under criticism for handling of helsinki summit with russian president vladimir putin the president's approval rating rose to 45% that is the highest of his presidency. >> it is two reasons why number one we can't forget the importance supreme court to voertsdz out there i think republicans will support the president almost no matter what because that is so, so so important to them the other thing i think democrats really -- the way they responded, to help hel the president's comments -- to help hel the president's xaents people ups,
he tried to correct himself. >> the hysteria that happened over that made people more likely to send the defend president democrats the media needs to learn allow to balance their coverage say we might be concerned we don't have to get hysterical if they want moves here, also important to know that even though these are pretty high rates this isn't necessarily significant in that other presidents have had higher approval ratings same point, i think it is telling. >> quick, we have potentially vice president coming to united states, for another summit before people go to polls in november are you concerned about that? >> not at all i think this is again the president has to be able to negotiate even with some of the people that are enemies of us i think that is key, so we will continue doing as we said this confidence is going to continue to build, i want to go back whether a firefighter or police you are 401(k)'s pensions going up that is positive. >> thank you, still to come
unexpected leadership shake-up at fiat chrysler details automaker longtime ceo is stepping down due to health issues halliburton reporting quarterly earnings this morning we wreak down those numbers. he american red cross, and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day. so our communities can be even stronger. it's a new day at wells fargo. but it's a lot like our first day. where we're changing withs? contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com.
dow futures slightly downside 6 dow industrials, earnings season big, big week here, 170 s&p 500 companies, coming out with numbers we kick it off with two that reported this morning including halliburton, haslo will have a butteredon downside to 1.1% hasbro, is jumping 10%, halliburton in particular in line earnings per share that is why you are seeing selling everybody getting used to so far this season estimates 20.5, percent growth year-over-year for earnings we have seen companies beating over 21%, but halliburton did have quartering revenue on rise more rigs at work hasbro up 10
havdz% soaring as handily beat estimates for profit, and sales by a wide margin. >> at by the time the google after the bell that will be key, not only will they watch for consistent revenue gains also some other areas, pixel smartphones licensing, also cloud examining down a quarter poorz right now keep it will here coming up jim comey getting political again, why he is urging democrats to not lose their minds, and rush to the socialist left spice up your office space details on the new cubicle inspired by superman costs over $8,000 later this hour, keep it right here. ♪ ♪ i know exactly ♪ ♪ i hit the ground running after
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dagen: welcome back, with kickoff new week with -- slightly lower futures -- loss on futures right now, again, the direction this week will be decided by earnings. alphabet the parent of google, facebook, amazon twitter to report quarterly results, alphabet kicks off after the close today, google parent company reporting,after the we'll joining us now, beyond global ambassador fox news contributor your expectation for earnings going into this week? >> i think we have another great earning season the last earnings season we had was
best, beat he in 25 years since 1990's a third of s&p reported 87% have earnings expectations upside on earnings, estimates they've had so going to be interesting to see what we're going to see this earnings, especially when you have aurlts reporting this week gm, ford i own both reporting they have had comedy inflation problems interesting to see how -- for tariffs how tariffs are going to affect projections. >> other companies to watch are industrial companies, whirlpool harley-davidson two of the names out with earnings this week. we will be listening for those even 3m listening for impact of the steel, aluminum tariffs any kind of supply chain disruption companies are experiencing. >> absolutely we are seeing these companies, 94% industrial companies that have reported have beat on top and bottom line, the stocks reacting really well, the
question john i don't know if you have a thought on this, it feels like the question is: is are orders being pulled forward? is the a second quarter coming in significantly better than expected because people are trying to get ahead of tariffs causing raised guidance for full year or doing better than we thought. >> a integrate question lindsey a little bit of both we are seeing earnings forward people around tariffs so you are seeing lot of stuff shift early because of this, but you are seeing better-than-expected, we are going to have 4% gdp, that is going to be a little inflated because people are getting odds out ahead of tariffs, earnings season this is the dichotomy of administration 20% earnings gain this quarter about 35 to 40% comes from the tax cuts so administration has gone a great job spurring this economy, that is already long in the tooth bull market to revitalization the problem is one hundred percent now black
cloud is the tariffs what can happen if potential trade war happens it could negate everything that happens with these tax cuts. >> so far, john, it looks like the markets are giving the white house giving administration some breathing room on how long do you think that can last? i mean to your point we're going to get guidance this week from some major industrial companies, the automakers, about any potential fallout? >> i think it starts until starts significantly hurting you know easy when you talk potential trade war we are in a trade war right now no matter what level of tradition trade war we are in one right now tampa bay pittsburgh salt lake reducing heed count right now, in newspaper business because of tariffs on canadian paper so you are starting to see problems right now, you see soybeans, livestock a glut of that going on in because weighed two problems we had a huge amount of livestock produced this year with also have tariffs that are coming on so we have with a glut,
until you start seeing americans hurt, i think we are going to start seeing, i think you give president a pass on this, this is negotiations, but this is sticking next to -- saying i am going to blow up everything if you don't agree it is a dangerous dangerous game we are playing right now. >> how do you structure portfolio around that? because again you are not getting paid that much to own fixed income here how do you allocate money? >> i think dividend stocks de facto bonds like the past several years i know interest rates are rising that is the play, look you have problems in the eu, if england drops out of eu looks like probably going to do with probably a hard brexit takes a huge amount of them fees going to eu, omitu looks like could break up especially losing italy, somebody else follows you look at problems in china right now, the u.s. stock market is still the place to be, and i think dividend stocks the safe play going forward but i don't think people know what is going to happen with this market this
market should be significantly higher this economy is absolutely on fire only black cloud is trade tariffs i stay with dividend stocks. >> i will say this ahead ho the head of the european commission juncker is going to be at the white house wednesday maybe you get some positive developments out of that meeting? you never know. >> he doesn't have high expectations according to people around him but you are right, we could have something upside surprise come out of that i wouldn't be surprised if eu size we are going to drop 10% tariffs on cars, then see what the president dozes, because really about tariffs, the president, trade carr could end with friends here the problem with europe right now, is they are not negotiations with trading partners neighbors in canada, mexico could be long term structural damage if we don't get in front of this try to work out something with mr. juncker when he visits this week. >> tariff on light trucks that are exported a 25% tariff,
called chicken tax among people i grew up with, because it was retaliation to fight over poultry 1964 i think you think tariffs can't hang around? that one has been around since before i was born, thank you, and before you were born, too should i point out. >> correct. >> al great to see you my friend coming up escalating tensions with iran warning from president trump after iran's leader says think conflict with country would lead to the "mother of all wars," a surprise shake-up at fiat chrysler details on unexpected changes after automaker longtime ceo steps down ahead. ♪ ♪ when it's too cold for camping, we go camping. when it's too hot to work,
dagen: i am dagen mcdowell for maria bartiromo. it is monday, july 23 your top stories 8:30 a.m. eastern, one big week for earnings, one-third of a dow industrials and s&p 500 reporting, this week, facebook, twitter amazon all on deck big reveal from alphabet the parent of google, take a look at how stock is premarket take a look at futures across the board, the dow and s&p did manage to eke out small gains lasted week,
and up to they are in green right now nasdaq 100, the futures there are lower as the nasdaq was last week, slipping. in europe, markets are head lower this morning as well, losses across the board. cac quarante in france, biggest loser down half 1%, the asian markets fixed nikkei ending down more than 1% one and a third% exact kospi, south korea losing on 9/10 of 1% president trump tweeting out to the president of iran last night with a firm warning. saying not to threaten the u.s. or else. former fbi director jim comey cautioning dems on twitter he says don't vote for whatever socialist democratic socialist whatever they are calling themselves today, fiat chrysler 3% in read premarket on replacement of company
well-known ceo sergio marchionne over the weekend. >> -- jobs or superman -- ♪ ♪ ♪ ♪ celebration of superplan positioning 80th birthday a cubicle modeled after telephone booth "man of steel" used to get changed in modern perks red cape not included. >> top story this half hour president trump giving a stern warning to iran, sclaeth war of words with the country's leader, christina -- live at the white house with the latest good morning. reporter: good morning and you are right, the escalation has continued rhetoric between countries iran and united states, why is this happening why is the president tweeting in all caps, this comes after the president of iran gave a speech on sunday to his
population and he said that if any conflict bn between united states iran occurred it would be the "mother of all wars," president trump took to twitter yesterday in all capitals, means yelling wrote ever, ever threaten united states again, or you will suffer consequences the likes of when few throughout history have ever suffered before we are no longer a country that will stand o for your demented words for violence and depth, be cautious the rhetoric continued to escalate united states pulled out of iran nuclear deal in 20 -- or 2015 iran nuclear detail in may, the united states said they were going to impose sanctions against any exports leaving iran this comes at a time when country in iran is suffering the economy not doing so well that had a huge effect on price of oil, it is trading around 68.92 over hast two months you have scene it
fluctuate climb higher because of the lack of supply around the globe especially from iran iran retaliated saying will block any type of schiltz comi shipments congress out of there it is monday morning 8:00 a.m. getting all this news dagying jive. >>. dagen: thank you reaction to tweet seems one of the you know, message control is the most impossible thing to do, in white house, again that is the president, tweeting out. >> the beauty is everyone knows talks transparency, you are hearing directly from him what he thinks, when he tweets like this, and if upper president rouhani would take caution, making some outlandish statements threatening united states i think this president doesn't like to be looked at will take swift decisive action rouhani may forget that we can all hear what he says, when he
does it the more than world, but that was a mistake on his part. dagen: iran still firing, firing missiles after the iran nuclear deal was done with death to israel. >> this president -- you know mentioned it, this the iran nuclear deal is something that is he is consistently talked about being a bad deal, and if iran ups the game, he is going to do something. dagen: right now europe has to come to us to get basically get waivers from sanctions that we are preparing to impose on the president tweeting on rush you hear fake news talking nell about my meeting with president putin all i gave up remember i gave up nothing we merely talked about future benefits for both countries also, we got along very well, which is a good thing except for the corrupt media your take on that? again, this the fact that it was discussed for likes of
michael mcfaul former ambassador to russia putin says to our president i want to interview these americans the fact that even came up was bothersome to many. >> i don't -- parted of what we don't know what exactly was said context said, what trump did or did not respond. i think the white house made it very clear that the idea that russia would interrogate any united states citizen is facial laughable i think good to clarify the idea a former government official would be interrogated by any country never mined russia putin something we should be very clear about what our nation's position is. dagen: if putin suj that putin does come to the united states before midterm elections the second summit on u.s. soil, be sure that there will be people -- that tet tete-a-tete. >> the reaction out of summit going to come in to any kind
of future summit with their a game. >> do you think. dagen: you are saying that wasn't the president's a game. >> no i think after meeting with kim, i think they looked at model and they were -- there was largely lot of prays from that how the president had handled that meeting, how the reaction had been in terms of him engaging with kim talking about denuclearization peninsula, i think that helsinki summit seemed to follow a very similar pattern, i don't think that they fully appreciated reaction that putin would get, versus kim. >> also i this i the president didn't help himself with some statements following where he was almost -- more with russia than -- >> i think a good thing went out and clarified. >> how do you think what do you think about his clarification do you think that was enough do you think people buy. >> it so far, it seems like they do, i think it is important, he has been he it is good that -- clarified it. and, you know, i -- talk --
there is intensity to white house how to cover it this president unlike ever before. >> the media that is why i wrote a book literally goes through a lot of big moments how thank you dagen. dagen: holding -- >> [laughter]. maria: dagen: going to ask you -- >> i think there is a level of intensity scrutiny that past administrations they haven't to face. dagen: true but called briefing politics the press and the president. i would say you put the word the press on the front cover book doesn't help sales my friend. >> well, i will -- dagen: people. >> i think part of what people want know what is it really like inside that is the thing you see one thing on television, you get to see us sitting at table what is behind-the-scenes part of the reason that i wro either the book is that the press gets to have their say, they get to put in paper, put on television what they want you to see, what they want you to read. what i want to do is take readers behind-the-scenes and
say this is what actually is happening when you don't see. dagen: but -- is it safe to say that this is a president this is a manth the leader of the country if you are trying to craft a message you can't control the message because he -- he is going to say what he wants to say, and you are more cries response or just respond -- >> i wouldn't say -- >> i mean i think you are clearly in response, he is the leader. and that is a very different role than i normally play i think most press people to craft execute a message and plan, this president leads the way on everyone of those fronts. >> there haven't been any -- fallout for presidento white house i would argue for anything that he said has there? >> i wouldn't but that is probably why one of those things he won. hes has been if i write about all these instances where any other political candidate would have been left for dead! i guarantee you if a candidate for office went to lee said
poll what i did it could come back and say you are dead get out of the race what this president every time not only picked himself up most cases came up stronger. >> part of who he is right i think people wanted somebody going down to shape things up do differently than ever before the fact he does a this continues to do it i think is reen forces that. >> jim comey the midterm elections three months away former fbi director comey issuing a warning to democrats. he tweeted this yesterday, democrats please, please don't lose your minds and rush to the socialist left this president and his republican party are counting on you, to do exactly that. america's great middle wants sensible baffled ethical leadership where is the sentence i believe baffled oa balanced ethical democrat running. >> that run to the left already happened he is late on tweet the problem they are now having they are tripping over
themselves, to go further and further to the left they are not progressives they are now like bernie sanders was a socialist running for president one point the extreme now become the mainstream of the democratic party you have going further to the left, to get traction. >> i just wonder i can't i look at all of this i think i don't necessarily believe that it is a whole of the democrats going left i think that it is socialists far left the only part of the party has a message, that resonates with people they are talking about things that matter talking about -- dagen: absolutely -- >> but saying something besides resist. >> also not to your point you can talk about all these things some point never tell you about the price tag know you never talk about economic consequences, that these policies would have on our economy, walk around telling everyone that everything is going to be free, is a great message but the reality is unsustainable, and it is not
something that is is it is a direction our country that we have been against for a long time we have been against socialistism, at the talked about minute income people given like -- insane idea. we should be talking about how to we create an economy that allows people opportunities they need a social safety net but talking about guaranteeing everybody free stuff unbelievable. >> quick, in your book you don't believe as president suggested that most media is enemy of the state. >> i write about it i write that there are a lot of good reporters, and that we need in a democracy a robust active press corp essentially to democracy what we need to do is know o where the line is call bad reporters bad stories prays good reports good stories, it is not about being tough the reporters should be in pursuit of the truth should right tough, tough stories should be called out when they are wrong.
dagen: cut out rehearsed hysteria rehearsed smearing legend stepping down surprise leadership shake-up after fiat chrysler ceo resigned, earnings in have full swing stuart varney weighs in next. ♪ [music playing] (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models during summer of audi sales event.
dagen: busy week in the world of wall street. no, america! big tech companies alphabet ex xaernt google facebook, reporting earnings, this week, also, we get the first reading on how fast the economy was growing during the second quarter. everybody is watching it especially, the host of "varney & company" stuart varney. i love it when you talk earnings, economic numbers because i know that is -- >> you don't. maria: dagen: i love it. >> i don't know what i am talking about when it comes to earnings. dagen: that is not true who held on to microsoft stock you what stock hit all-time high
friday microsoft there you go. >> nothing to do with earnings per share, or qe 3 or anything else believe me. >> i think a pivotal week stuff going on makes an enormous difference in your money. as you said, dagen first of all, you got the earnings from big tech, a big week for bike tech here they come find out how much money they made much they suspect to make in the future that will have a significant impact on those stocks big tech stocks, have been leading this market at least a couple years then we've got the gdp numbers that is friday morning, 8:30 eastern time, i know you will be covering it so will we i expect around 4% growth. per year annualized a blockbuster news item never achieved that rate of growth, in the last four i think four years, since we had a 4% quarter. then don't forget wednesday, we have a europeans coming
here top level delegation coming over to the white house talking trade. there is the possibility of a breakthrough right there. either that or a breakdown, one of the two. and that again makes this a very pivotal week glad everybody is tuning in, it is worthwhile. >> what if we get so much -- i talk till blue in the face potential tariffs on automobile imports how that would with hurt u.s. carmakers any carmaker abroad at home so many automakers have plants here produce most cars they sell here in fact but stuart what if we do get a breakthrough hey we are going to get rid of all auto tariffs between europe united states say three years what if that happens would he be incredible shl. >> huge for the markets i think the summer rally has been held back, by all those negative trade headlines not pushing down so much as held
back i would say. but if you get a breakthrough wednesday come out with lessening of the tension agreement in some form or or the other to get rid of tariffs set stage for a big rally. >> think about this every morning danger of being negative all. >> wait a minute, wait a minute the first thing you think of when you wake up in morning oh europeans coming to a trade deal i don't believe. >> it being positive make sure you don't look at everything through negative lens again you miss all the good stuff. >> point about trump presidency isn't it, think positive. he is winning the economy is expanding, we've got prosperity coming at us think positive, that is why the markets up so much. >> even with mean tweets approval ratings up too. >> true. >> thanks, stuart varney in 10 minutes every day, 9:00 a.m. to noon, coming up a phone booth worthy of superman details on new office cubicle
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you'll be able to choose any doctor or hospital that accepts medicare patients. whether you're on medicare now or turning 65 soon, it's a good time to get your ducks in a row. duck: quack! call to request your free decision guide now. because the time to think about tomorrow is today. . >> death toll in last night's mass smooth in toronto, cheryl casone has details. cheryl: dagen we got update from police second victim has died from the rampage, a gunman shot 14 people including a young girl in toronto. the 29-year-old body was found at scene not clear at this point whether the man killed himself or was shot by police. all this happened in toronto neighborhood known as greektown. >> i would say i heard at least 20 shots -- in
intervals, reloading, spent reloading that is what i heard. >> investigators trying to find a motive police say they would not rule out at this point terrorism. >> well, tragedy in maryland overnight a firefighter died battling a massive seven alarm blaze unidentified firefighter 13-year veteran fell through the floor, three people inside the house able to get out in time. the cause of the fire under investigation, but lightning could have the cause. >> news over weekend change at the top for fiat chrysler longtime ceo sergio marchionne placed marchionne underwent shoulder surgery three weeks ago but condition somehow worsened looking for more details mike manley runs ram truck derision new ceo stock to watch shares lower in premarket down more than 3% right now, again, stunning
news for this company. >> well, a superman solution for workers he who want more privacy, for the first time in 80 years superman cube call booth available for two two inside if that makes sense know the east usb outlets ether net connection you have to make more than clark kent running 5800 dollars per booth doesn't mention having a phone i don't think people use those anymore, there is this watching this clip over and over again this morning on the show appears the show o grownman stealing a foul ball from a child chicago cubs saw situation play out in real time, ended up beginning of the young boy an autographed baseball instead turns out man everything is criticizing helped that boy get a foul ball earlier in the game. you can see him holding a ball
next to new autograph, yeah so maybe the guy in the clip isn't mean as we all think we are beating up on him this morning want to give you new details on this developing story, in baseball. dagen. dagen: glad i didn't call him a lot of -- cheryl: yeah i think a little on defensive. >> child deserves all foul balls, final thoughts from all stars we'll be right back. ♪ let's dance for love, yes it's my last dance, and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day. so our communities can be even stronger. it's a new day at wells fargo. but it's a lot like our first day.
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>> lee carter, lindsey bell. final thoughts. five seconds. >> glad to be here to kick off the briefing. >> stuart varney, take it away. stuart: surprised at sean spicer. he had at least five seconds to spare. >> i yield to you, stuart. stuart: good man. good morning, sean, dagen, good morning, everyone. the president started the week in all caps. never, ever, threaten the united states again. that was a direct response to iran, who's president, hassan rouhani threatened america with the mother of all wars. do that again, said our president, you will face severe consequences. quote, we are no longer a country that will stand for your demented words of violent and death. be cautious. so begins the president's twitter week. it will be a very big week