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tv   Mornings With Maria Bartiromo  FOX Business  July 18, 2018 6:00am-9:00am EDT

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of his first day of testimony on capitol hill. a similar story, markets higher across the board. the cac in paris at two thirds of 1% of the dax up almost 1%. markets closed mostly lower with the exception of japan. the other majors as you can see in the red. house republicans are meeting with president trump. they met yesterday to work on a plan for another round of tax cuts. house ways and means committee chairman kevin brady and how will help small business and the middle class. >> we are here to talk to you about making permanent the tax relief so they can continue to grow, so we can have a million and a half new jobs than we can protect them against washington trying to steal back the hard-earned dollars but you and republican congresses given.
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trade to the timetable of getting legislation passed in september. in the last hour i'll speak with kevin brady. join us for this special interview in its timetable as well. making news this morning. a record time for google. regulators set. regulators said to have the technology giant with a $5 million penalty over its mobilephone business antitrust regulations. the stock is down going into the day in the news. president trump issues a report. he just waited about russian president vladimir putin. so many people to higher rents of intelligence of my press conference performance in helsinki. we discussed many important subjects that are early meeting. many hitters who wanted to see a boxing match. the results will come. president obama takes speech yesterday in johannesburg. the same leaders who repeatedly lied he said. but he wasn't always truthful
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himself. taking a closer look at obama's record this morning. the robust robot on security detail. one castle in patient going high-tech to protect the pumps had driven me to break it all down, taken the towel. benchmark managing partner kevin kelly and li carter. good morning. >> good morning. great to be here. >> yesterday's microsoft ceo interview was phenomenal. i sent it out to everyone i knew. i was like you guys have to look at this and watch this because this is so telling about the future of i.t. and technology how only 5% is happening and what is happening to the other 90%. we need 4000 more new data centers by 2020 just to satisfy our demand for all the streaming in cloud. it was unbelievable. maria: long-term he said spending on security and cloud. just a transformation to digital. >> the gutter and coming up.
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>> cybersecurity given what's happening with russia in particular. as a public-sector problem, government sector problem in private-sector problem. we are all responsible. maria: more news on that front. during the conversation the house ways and means committee chairman kevin brady is with us this morning. former nsa tour tonight at cybersecurity president and ceo keith alexander is here. former special assistant to president trump and press secretary to vice president mark lauter is here along with senior advisor at democratic strategist adrian elrod joins us this morning. dr. mike is here. you don't want to miss a moment of it. do some health care and wellness. top story right now. house ways and means committee chairman kevin brady played out in a timeline for a vote on more
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tax cuts. president trump said an exclusive interview with me recently. watch. >> we anticipate what the house voting on this in september in the senate setting the timetable as well. >> will be doing it in october. maybe sooner than not. this will be even more aimed at the middle class. one of the things we think about is the 21% on 20 and for the most part the rest of it would go to the middle class. maria: that was my interview two weeks ago. michael lee, good to see you. thank you for joining us. we saw that impacts from the first tax reform plan. >> with a flat tax package, there was a lot of things left on the table. so this whole deduction cap a $10,000 or the middle class tax cut passed through the individual tax reform. those expire.
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wouldn't be a good idea to make a part of a permanent. 21% to 20%. i don't know how big of an impact that will be other than a random 21 number down to 21%. tax cuts are good. it multiplies quicker than the public sector. these are positive for the economy across the board. >> i don't think anybody's anticipating the sole deduction to go away. you've got state suing the federal government right now because they saw their taxes go up. dagen: right, so get over yourself. even in a deep blue state, that was absolutely absurd. the problem will be not to throw water on this because i believe this is more political than it is economic and financial because republicans want to look like they are doing even more on the economy. the democrats running for midterm elections will argue that you didn't make the individual tax cuts permanent.
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they didn't do that because the white house came out with the midyear budget outlook. the annual budget deficit will top $1 billion starting in 2019. financially it is going to be very difficult for the republicans to do anything. and then you've got the senate tied up was trying to get through the cabin not nomination to the supreme court. it looks great. the optics are perfect, but whether they get something done remains to be seen. >> i'm curious how they will build to do build to joke about the budget reconciliation issues. if they don't have a plan to deal with that, i don't know how they'll ever get this through. >> a couple things for the budget. first come at the congressional budget office was a dark player, would you be in the same room as them? i wouldn't because they've been so inaccurate and that's because the government is different than
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normal. you bake in all these assumptions all over the place. no one thought about a 3.5 or 4% gdp in what it would do to that. deficit is a spending problem. as the economy grows, revenue grows and grows substantially greater. all sorts of deficits are spending problems, not marginal tax rate problems. i'm a true believer where we should be taxing from the revenue naturalization standpoint. transfer the problem is republicans are cutting spending. the giant omnibus bill spending bill. that is seen by many as being important. it was the kitchen sink and the omnibus spending bill. he regretted it after the fact. he said he wouldn't do it again. again you raise spending and cut
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taxes that now you are staring at $1 trillion annual budget. >> let's not forget about trade and the impact of these tariffs. consumers should expect to see higher prices on imported cars of president trump follows through with the proposed 25% terrifying foreign built vehicles. the federal reserve chairman jay powell has cautious words yesterday on trade telling the senate panel that barriers to economic growth. watch. >> in general, countries that have remained open to trade and haven't erected barriers have grown faster, have higher incomes, higher product entity in countries going into a more protectionist direction have done worse. >> he also said we weren't really sure how the current crop of terrorists and how this trade dispute would actually end up. we will speak to kevin brady who actually suggested that higher tariffs will show up later this year. your thoughts on the trade
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issues. >> i think chairman powell is 100% right. countries with reductionist trade barriers slow their economic growth and it's been a judgment over time. what we are trying to do is impose tariffs to open up other markets. one tool of money to create free and fair traders in the world. as of right now the u.s. is the freest and fairest trader in the world and it's worked out pretty well for us. we are trying to break down barriers, not put on protectionist trade policies in tariffs are one tool in the toolbox. it hasn't had a negative impact so far. hopefully it doesn't come a knock on wood. >> because the president is still in negotiation mode? >> hopefully. it is clear. it slows down your economic growth. clear historical precedent for this. what we are trying to do a show other countries what they are
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doing to us and how it can harm them. if they don't like it, they can reduce their terrorists. president trump is set on a number of occasions if you take yours away, will take all of ours away. >> one of the most underappreciated stories that came out yesterday was their earnings and their ceo said the political rhetoric out of now is not hurting our customers are moving forward with their growth plans and see the change in sentiment or decision-making. prolog uses a critical waypoint for the economy. they have the warehouse is in as well as the united states of customers are wal-mart, home depot, amazon. they have a great read through an economic activity. it has been translated into companies yet pulling back spending. they still see growth in the real economy and still deploy their capital. dagen: there is just one issue because a lot of these are
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question marks about tariffs. particularly the tariffs on auto import with the congress is having a hearing on tomorrow. but they are serious concerns of their falling on ears from the european other makers. they talk about em w. bmw is the biggest exporter of cars made in the united states. nobody talks about that. 70% of the cars employ about 9000 people. they want to add another thousand. but tell you this right now. those jobs are on hold until this clarity on this issue. the exports 70% of the cars in the united states of a just god had put the retaliatory tariffs from china that the exports to china are coming out of the united states. the german automakers stepped up and said let's get rid of all the auto tariffs and see if the united states can stand firm and how that negotiation. train to the auto tariffs are completely different from what
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we talk about when we talk about china. >> they are studying, but using the national security issue as the basis for stopping potentially a 20% import tariff on auto imports. why is that important? potentially it would apply to part in a lot of these auto companies whether japanese or european assemble cars in the united states, so their cause would automatically go up. the cost of amount of abuse going to go up in the united base. that includes gm and ford. we will see of commerce in the white house listens to the people who create jobs in this country. >> you want to buy stocks here or not? >> absolutely. the u.s. economy is on fire. chairman powell talking about it yesterday. you see 20% earnings growth to hit the market has the market hasn't been since the end of january. maria: regardless of these
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issues? >> absolutely regardless of these issues. these trade wars are good. the tariffs are not good. these are a distraction and they could be a detriment to our economy. the thing is our trade imbalance is so big in our economy so healthy right now we can afford to make small missteps here and there without having any real impact. maria: but we'll see. michael lee there. keep the deer and fox business for my interview with house ways and means committee chairman kevin brady at 7:00 a.m. eastern. lots of talk about what the house ways and means as it relates to the economy. president trump treated this morning. the nato meeting in brussels was acknowledged tribe really is the dollars more. the meeting with russia may prove to be an even greater success. many positive things will come out of that meeting. when we come back, breaking news this morning. the european union reportedly
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about to find google a whopping $5 billion in an antitrust case. the latest development impact on other technology companies. president obama taking jabs at president trump same politicians lie, but now some of his lies are coming back to bite him. back in aza minute. 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.
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slapping google at the $5 billion fine for breaking antitrust law regarding its android apps an operating system. the european commission has been investigating google's alleged dominance in software that runs 80% of the world smartphones. the chief will hold a news conference at 7:00 a.m. new york time. shares of google and also better trading lower the free market. the soccer team rescued from the flooded cave in thailand expected to speak for the first time in a news conference at 7:00 "new york times" about the 18 basement underground. a 45 minute nationally televised times appeared to 12 boys and their coach will finally be allowed to go home today. they been discharged from hospital one day early after their speedy recoveries. learning more about the dangerous rescue mission drivers pulled off. the water was so murky and dark they could barely see. the boys were sedated to keep
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them from panicking inside the narrow tunnels. the divers did not expect to get all the amount of life. tesla ceo elon musk is apologizing after feuding with one heroic rescue driver. he called them pedro guy. the rescuer called his presence a pr stunt. he treated a few hours ago his actions against me do not justify my actions against him and for that i apologize into the companies i represent. as leader the fault is mine and mine alone. shares of twitter higher in the free market. you know what that means. the jackpot has rolled over and is now up to $422 million bid the next drug will be held on friday at 11:00 p.m. honestly, i do buy the ticket
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because i like to fantasize about what i would do if i won, but i know the odds are horrible. maria: thank you so much. president trump just treated the nato meeting in brussels wasn't it knowledge i have with williams of dollars more being put up by member countries at a faster pace. the meeting may prove to be an even greater success. positive things will come out of the meeting. relationships with the u.s. are very good in the process is moving along. no rush to sanctions or bring big benefits exciting future for north korea at end of process. take a break are going to come back to my full faith and supported the u.s. intelligence agencies weaken his position clear in russian election meddling. if not enough for democrat at the helsinki summit backlash continues to grow. robocop reporting for duty. details on a high-tech crime at a california gas station. back in a minute with that.
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maria: obama sounding off yesterday. president obama commented on social and political issues including politicians who lie. >> we see the utter loss of shame among political leaders where they are caught in a lie and they doubled down and lie some more. if you are caught lying, be like man. now they just keep on lying.
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maria: yeah, they do. former policy director for mac from a research fellow at the hoover institution. good to see you. thank you for joining us. have you see that? is it appropriate for president obama to take a veiled swipe at president trump while on foreign soil when we know there are plenty of things president obama, i don't know, was a mistake to say you can keep your own doctor and tons of things about obamacare that the beginning in terms of lies. >> that's absolutely right, maria. the irony is not lost on me. about 2013. if you like your health care, if you like your health care plan you can keep it. president obama surely knows we now know from the obama administration archives that in fact the president and his administration knew that would not be true. even when you think about the issue of russia. president obama clearly neither prussia presented a threat to our democracy, threat to our
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neighbors and in 2012 you'll recall he criticized mitt romney for calling rush our number-one geopolitical foe. the irony is not lost on me. politics is not an easy game and president obama play politics just like every other president has. for him to lower his criticism seems to me to be rich in irony. maria: maybe he's just doubling down on the law. >> as kevin kelly. one of the most grotesque lies from his administration was when he said he didn't pay a ransom payment to iran. that was to me one of the worst things that could happen because what he did is he went around condescension and got foreign currencies instead of u.s. currency from agape house to the iranians, had prisoners come across. where do you think every one of his lies? >> the entirety of the every
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infield was premised on a lie. you want to talk about components of the come is certainly the way they sold it. the notion we had to do this deal because if we didn't, the alternative was somehow nuclear war. that is again a lie. i just wish that politicians would play it straight every once and again. president obama is james to me has a whole catalog of them in the iran deal as principal among them. transfer you just said you want politicians to be honest. i want to be blond and from texas and that's just never going to happen. by the way, as seen in the last few days that the anger on the left and the anger on the right, if you say anything that anyone disagrees with, whether you're liberal or conservative, the outrage and the venom is just astonishing and it's only getting worse. i just wonder how that plays out
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because again you have president obama stoking among his liberal allies and the people who are still infatuated with him. >> no question. that is part of the challenge we have. it's become very tribal. it's become very much our site and mirror site here there are some things objectively. you talk about president obama. he has the ability to say to progressive supporters, look, we need to do what we can to bring the temperature down. he gives a speech where he essentially mocks other politicians for doing precisely the thing that he did. this is the problem with her politics. we are not in a position to take the volume down. politicians don't seem to want to do that in so that creates the challenges we see here at america now. maria: that's why a business guy became president of the united states. good to see this morning. coming up, san francisco now
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thanks so much for joining us. i'm maria bartiromo. your top stories right now, 6:3. trade tensions take a back seat, features currently showing a fractionally better opening for the broader averages, dow industrials up 11 points, s&p 500 up a fraction, the nasdaq is negative by 4 and-a-half. yesterday the dow delivered small gains. the s&p was up 11, the nasdaq was strong, up 2/3 of a percent yesterday, 50 points higher to new highs. in europe, markets are higher this morning, take a look at money moving into equities across the popped. fq100 up 2/3 of a percent, the dax index up 3/4 of a percent in europe. in asia overnight markets closed mostly lower with the exception of japan, it was up half a percent. president trump is speaking out this morning after his summit with russia's president, vladimir putin. the president clarified his viewpoint on russia's alleged election meddling yesterday. >> i have full faith and support
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for america's intelligence agencies. always have. let me be very clear in saying, i've said this many times, i accept our intelligence community's conclusion that russia's meddling in the 2016 election took place. maria: in addition, the president is tweeting this morning. we'll bring you those tweets coming up this morning. the backlash over attempts to abolish i.c.e., the details as how republicans gear up to vote on supporting the immigration and customs enforcement agency. san francisco is beginning registering illegal immigrants to vote. san francisco is, yes, coming up. plus, the ceo of texas instruments is out, why he resigned after less than two months on the job. big story here. plus, the shocking report on the gender wage gap, why some wives are lying about their salary while earning more than their husbands. they don't want the husband to feel bad. plus, robot security guards reporting for duty, the high
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tech way machines are keeping people safe at the gas station. all those stories coming up this wednesday morning. our top story this half hour, president trump clarifying his comments on helsinki about russia's election meddling. the president says he supports the intelligence community's findings. >> let me be totally clear in saying that, and i've said this many times, i accept our intelligence community's conclusion. and a key sentence in my remarks i said the word would instead of wouldn't. the sentence should have been, i don't see any reason why i wouldn't or why it wouldn't be russian. maria: joining us right now, adrienne elrod, democratic strategist, along with mark altogether otter, -- mark lotter, former press secretary to vice president pence. thank you for joining us. mark, your reaction to the president's statement yesterday? >> i think it's entirely appropriate. it's good he was able to clarify
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that so we can talk about the important things which is where are we going with russia, what is russia going to do to help us when it comes to north korea, when it comes to dealing with the situation in iran and syria and energy security in western europe. these are the important things we should be talking about. maria: once again, the democrats had their hair on fire over something the president said and now they've gone far, they went too far with i.c.e., they want to abolish i.c.e., now they went too far with the president's comments, calling it the holocaust, pearl harbor. did the democrats go too far in your view? >> look, speaking as a democrat, i will say this. by the way, speaking as an american citizen who is concerned about a foreign adversarial government impacting our elections i will say this. i think donald trump should have sat on that stage next to vladimir putin in front of the international community and denounced what russia has done in terms of meddling in our election. i don't think his correction yesterday, if you want to call it that, was credible.
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i don't think it was sincere. i think he realized and backtracked when he realized all of the criticism he was getting. if he actually did misspeak, as he says he did, then he needs to go out there, he needs to make sure that he invests in our government to make sure these types of things in terms of foreign ad adversarial governmet meddling in our elections never happens again. dagen: i'll say one thing. the walk is more important than the talk. he corrected what he said on that stage. here is what this administration is doing with russia. defense spending is up. we're taking a harder line than the obama administration did on russia. we're talking about sanctions on actual individuals, cronies of vladimir putin, large multinational corporations. president trump didn't say anything about recognizing the annexation of crimea, he didn't suspend nato and u.s. activities in the baltics, he didn't say we
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would take troops out of syria. we need to recognize that. ian bremmer hit these issues. expect tougher sanctions out of this congress probably by the end of the year because of the interference by russia in critical u.s. infrastructure. maria: that's right. adrienne, why was president obama so soft on russia? >> well, i don't think obama was soft on russia at all. he was very critical. maria: he knew about the meddling and he did nothing about it. >> he did plenty about it. maria: what did he do? >> he issued a statement about a month before the election, denouncing it. secondly, he tried to get mitch mcconnell to sign the statement. mitch mcconnell was hesitant. do i think obama could have done more? of course i do. he did a lot. he has done a lot more than president trump. maria: , actually, that's not true, the sanctions are a lot more than what president obama did. that's a fact. mark lotter, are you expecting a second round of sanctions by the end of the year as dagen suggested? >> i think there is likely going
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to be additional sanctions and for multiple reasons, not just election meddling but what we're continuing to see going on in other parts of the world and russia's involvement with it. but as the president said, we're building a strong relationship. that's the important part. because we have to talk. we have to move together to find areas where we agree and one point i do want to point out is that this administration has already spent $380 million sending it to the states to help protect our election integrity as we approach 2018 and 2020. maria: the president tweeted on this this morning. he says while the nato meeting in brussels was an acknowledged triumph with billions of dollars being put up by member countries, the meeting with russia may prove to be in the long run a greater success. he goes on to say russia agreed to help with north korea where relationship was the u.s. are very good and the process is moving along. there is no rush. the sanctions remain. big benefits and exciting future for north korea at the end of the process. what should we expect with north
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korea, mark? >> well, we need to entire world community to join in making sure we keep the pressure on north korea, that we make sure we shut down their access to capital and to products and exports and imports of key minerals, which china, russia and many of the other countries are joining with us. as soon as there are breaks in that dam, we'll see the pressure ease off of north korea. so having the russians with us is good and we just need them to continue to work together on the agreement they've made and getting to a denuclearization plan in place so we can move together with it. >> adrienne, ro rob em emmanueld we should never let a good crisis go to waste. there have been so many cry cri, whether you speak about nato, the press conference in helsinki. we've had a high level hysteria that almost cancels out what could be something that we could
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benefit from. if you were advising the democrats right now, what do you think they should do in other words to change the tide or change the conversation? >> well, a couple things. number one, i wouldn't exactly call concern about president trump's deteriorating relationship with some of our top allies some sort of hysteria. look, democrats don't have any power. we have no control of the house. we have no control of the senate. we certainly don't control the white house. speaking out and coming together and pushing back on president trump is about the only power we have here. secondly, as, again, going back to being a concerned american citizen, i do have a lot of issues with the fact that donald trump will stand next to vladimir putin, one of the most ruthless dictators in the world and say that that essentially he believes him over our own intelligence. if he wants to course correct as you said earlier, he should walk the walk, not just talk the talk and actually make real change.
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again, i don't think democrats are causing mass hysteria here. dagen.maria: they compare it te holocaust. dagen: it's nice to know that you clearly are not watching some of these other television networks because it is wall to wall hysterical screeching. >> people are very concerned. dagen: i'm not just talking about women. i'm talking about menace well. the things that are said on these networks and the manufactured outrage, i am sure that some of these anchors practice their outrage face in the mirror before they go to work in the morning. maria: she's right, though. what she's right bout is -- about is they have nothing else to do. the economy will grow by 4% in the second quarter. the outcomes of this president have been positive. they've got hair on fire because they can't deal with the positive outcomes that are coming out of this administration. >> we have hair -- our hair is on fire, if you will, because we're very concerned about the fact that president trump seems
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to want to have more in common and better relationships with leaders like kim jong un and vladimir putin as opposed to our traditional allies. maria: what did president obama say when there was an open mic. dagen: i'll have more flexibility after the election and his pushback on vladimir putin after all the interference that the intelligence community and the white house in 2016 already knew about, he looked at him and said cut it out, that's what president obama said to vladimir putin. i think it was in september. >> you also had hillary clinton come and hand him the reset button. maria: the reset butt son. >> as second -- button. >> as secretary of state. maria: is that before or after the uranium deal. >> i think it was during. >> i want to be fair, though. >> dagen: i want to add one thing. thedlast two administrations made mistakes with russia. they were hood winked by vladimir putin and the russia leadership. that's what this administration needs to learn from, don't let
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them take advantage of us. they may promise the world on north korea and syria. you can't believe what comes out of their mouths. maria: how about this, san francisco, the house is voting today as san francisco begins allowing illegal immigrants to vote in certain local elections. some criteria, they must be at least 18 years old and live in san francisco. mark, this is california's first city to allow non-american citizens to vote in local elections. should we expect to see more of this? >> what's next? i mean, you have to be a citizen. you need to be a resident to vote in an election. that's american fundamental democracy. it just shows you how far divorced from reality that the democrat party has become. they've basically been taken over by socialists. they don't even care if you're an american citizen anymore in voting in our elections. maria: adrienne, are you for this? >> no, i'm not for this. i think there's discrepancy out there in terms of if this is what the city of san francisco
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is doing. of course not, you've got to be a united states citizen to vote. that's what i believe. i think we need to do more as a country to allow people to more easily register to vote. maria: we'll leave it there. great conversation, guys. we appreciate it. when we come back, texas instruments' ceo is gone after weeks on the job. wait until you hear what happened. and then a high tech crime fighter, the robot standing guard at a california gas station, a look to the future, next.
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maria: welcome back. now this, the ceo of texas instruments is stepping down from the company just a few months into the job. adam shapiro has the details. >> thi this caught a lot of peoe by surprise. he resigned after less than two months in the job. texas instruments blames the par
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churr on what they're -- departure on what they're calling, quote, code of conduct violations. he also stepped down from the company's board. texas instruments says chairman rich templeton will take over as president and ceo for an an indefinite time. shares of texas instruments are up nearly 11% this year. it looks like the glitch that kept a lot of people from shopping during the first few hours of amazon's prime day didn't hurt amazon too much. amazon said sales in the united states wering bigger than ever before. e-commerce operating systems estimate that by yesterday afternoon amazon sold $3.4 billion worth of goods. amazon, well, they haven't said what caused the platform problems in the first few hours. shares of amazon are higher in the premarket. jeff bezos is even richer. another job is being taken over by robots. a san francisco gas station has a robot as extra security to watch people at the pumps. the high tech crime stopper has
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four cameras to scan and record what's going on around it but it won't be chasing anybody down. its top speed is 3 miles per hour, that's about the same pace as a person who's walking. whatever happened to dine and dash? where the fun of being a teenager anymore? back to you. maria: it's interesting what's happening in terms of all sorts of jobs being replaced by tech. thank you so much, adam. earnings are flowing and this is one of the busiest weeks for second quarter earnings. u.s. bank corp. reported better than expected earnings but weaker than expected revenue, $1.02 a share, versus an estimate of $1. again, misses on revenue. we'll check the stock on usb. we're waiting on morgan stanley. the estimate is $1.11 a share on revenue of $10.10 billion. we'll come out with those numbers. president trump is tweeting this morning. he said congratulations to marsha robe of the great state of alabama on her big primary win for congress. my endorsement came late.
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when it came, the floodgates opened and you have the landslide victory you deserve, enjoy, martha robe. when we come back, it seems as though even the happiest couples lie about one thing, salaries. why pay he'l equality has not ct up to who claims the bread winner bragging rights. back in a minute. ♪ [music playing] (vo) from the beginning,
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i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today with td ameritrade®. maria: welcome back. bringing home the bacon, a new report that says married couples tend to lie about their salaries. it also says what they are lying about will surprise you. gerri willis has the details now, gerri, good morning.
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gerri: the u.s. census bureau out with a shocking report that men and women, both of them lie about their salaries when the woman is the bread winner of the household. officials compared the census bureau's survey results with actual irs data and found that reported incomes consistently did not match up. if the woman earned more, husbands would report salary earnings that were almost 3% higher than reality but the wives also overstated their husband's earnings while slashing their own incomes. get this, the report also found that wives tend to overstate their husband's income more than men while husbands devalued their wives' income more than the women themselves. i can't make this up. it's too crazy. looking at the bigger picture here, the percentage of women bringing home the bacon is big. it's grown in recent decades, 28% of working wives earn more than their husbands last year, compared to 18% in 1987. i had to leave this as fast as i could. i want to hear what everybody has to say.
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maria: why? why do women lie? >> protect those men. maria: they don't want their husbands to feel bad. >> don't get an insecure. i would love it. kudos. gerri: when reality -- come on, now. >> i mean it. absolutely. i will tell what you my wife makes. you hire her and pay her more, i'll be happier than a clam. no problem. dagen: maybe the women are fibbing about their incomes because they're squirreling away, hiding slices of it in order to pay for that wine vacation with her girlfriends to miami, for example. again, -- she really made $50,000? she told her husband she made $45,000. gerri: but the husband lies too. >> does the woman lie about how much the shoes cost. maria: most people don't understand how much good shoes cost. [ laughter ]
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> maria: i'm just saying. it's one of those truths. >> this is a good thing. i don't think people should be lying about -- maria: , no it's not a good thing. 28% higher in terms of women bread winners, that's good stuff. gerri: i've got one stat you've got to hear. the pay gap starts early. listen to this. boys earn allowance on average of $13.81 a week. girls, $6.71 a week. dagen: the parents are underpaying girls for their chores because you get paid more to mow the lawn than you do to unload the dishwasher and clean your own bath room. >> is it that or is it that girls are more compliant so you have to pay the boys more to do it? maria: that's not good, though. dagen: no, that's not good. i think young women, young girls nationwide should go to their parents and demand raises immediately. maria: i do too. demand to know what your brother's making. >> exactly.
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dagen: just sneak into his room and go through his piggy bank. you all know where his brother hides his money. >> the 28% versus the 18%, think about where women are today in this society. more women go to college than men, they have more skills, there's more women in leadership roles in jobs. so just think about the shift that has been happening. >> i would have expected the number to be more. that's compared to 1987. so it's like i would have expected the number to have been even more. gerri: that is interesting. dagen: if women aren't telling the truth it's probably half of all households the woman is the bread winner. they're just not telling their husband. honey, you bring home the bacon. maria: interesting stuff. i want to say morgan stanley is out. the revenue and earnings are better than expected. we've got a double beat on morgan. what do you think, $1.30 a share on revenue, $1.30 versus an estimate of $1.11 and revenue is better than expected.
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we were expecting revenue at $10.10 billion and it's actually $10.6 billion. >> this doesn't surprise me. they made a shift to the asset management side of the business and those assets have gone up and consistently exceeded expectation. so it's a continued great execution of their business plan. maria: stock is up 2%. we're seeing the stock on the move as the numbers are just hitting the tape. gerri willis, great to see you. still ahead, rewarded for dedication, a man walks through the night for more than a dozen miles to make it for his first day of work. you have to hear what the ceo of the company did to reward that. details next hour, right here, "mornings with maria," stay with us. ♪ at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today.
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maria: welcome back many good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is wednesday, july 18th. your top stories, 7:00 a.m. on the east coast. earnings in focus on wall street this morning, morgan stanley just reported better than expected second quarter results and the stock is on the move. the bank is also raising its dividend, company reporting revenue of $10.6 billion for the quarter and the stock right now is up 3%. other investment banks also following suit this morning. futures are indicating a mixed opening for the broader averages, dow industrials up 5 points, the s&p 500 exactly where it closed yesterday, unchanged and the nasdaq pulling back after pretty good gains yesterday across the board.
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the dow is up for the fourth session in a row. the nasdaq closed at a new record high yesterday with a gain of 50 points. jay powell giving an upbeat outlook on the economy on his first day of testimony on capitol hill. he will speak to the house today. in europe, markets are higher across the region, f.q100 up 2/3 of a percent, the dax index up 3/4 of a percent. in asia overnight markets mostly lower with the exception of japan. the nikkei average was up 1/2 of a percent. a record fine for google, european regula regular regulate technology giant with a $5 billion penalty over his mobile phone business and anti-trust concerns. house republicans meeting with president trump yesterday to work on a plan for another round of tax cuts. they laid out the priorities and the timetable yesterday. >> we're here to talk to you about making permanent this tax relief. we anticipate the house voting
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on this in september and the senate setting the timetable as well. maria: congressman brady will join me live straight ahead as high tax states are filing a lawsuit over state and local tax deductions. we'll get his response to that. plus, the ultimate feel good story, a young man walks 20 miles overnight to ensure that he makes his first day of work on time even though his car broke down. his new boss rewarding that effort big-time. joining me this morning, dagen mcdowell, kevin kelly and lee carter. great to see everybody this morning. >> great to be here. >> amazing morning. maria: morgan stanley came out and you said the tax rate on morgan stanley was what? >> the effective tax rate went down to 20.6% because of the corporate tax change. that was great. redeploying it back into their people. compensation costs were up. they're hitting on all
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cylinders. maria: we've been reporting e.u. regulators are fining google, it's official, they're fining them $5 billion in the android case. our top story right now, the second round of tax cuts. republicans are aiming for more tax relief for the middle class with the house weighs and means committee chairman saying with the president he expects to vote on the new round of tax cuts in september. joining me now is chairman brady. thanks for joining us. >> thanks, maria. maria: you are on track for a september vote? >> we are. so we had a great meeting with the president yesterday, just getting on the same page on what we see for 2.0 and the timetable. we expect to begin our listening sessions with house republicans next week on 2.0. it's going to be a very tight, very focused package. the centerpiece of course is perpermanence, because that's growth, a million and-a-half new jobs and make sure they can't
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steal the tax cuts back. they're growing our economy. yeah, we are on track. maria: you say the centerpiece of the plan is making the individual tax cuts permanent. we know the corporate tax cuts are permanent but the individual tax cuts you want to be permanent. how does that equate to one and-a-half million new jobs? >> because as you know, because these goofy budget rules in congress, we are able to do long-term for individuals in our small businesses, not permanent. we want to go right back to there. so it increases growth over time, long run about a million and-a-half new jobs, increasing paychecks, almost 1%, increases growth, again long-term. that's we think critical to growth in the u.s. but we don't stop there. we think there are opportunities now with this stronger economy and companies as you just mentioned being able to help increase their retirement matching. we also think it's a perfect time to help families save more and save earlier. maria: there's a report out from the committee for a
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responsible budget, obviously they are focused on deficits and paying for the tax plan. maya mcgin mcginnness said thist afternoon there was an update with a trillion dollar admission due to the recent tax cuts and spending hikes. the deficit projections have now doubled. walk us through, mr. chairman, what that means in terms of deficit projections doubling and how to pay for an additional tax cut plan. >> that doubling is not because of the tax cuts. even congressional budget office, which isn't a big fan of tax cuts, admits that a trillion dollars more of revenue will come in to the federal government after tax reform than before. so we're helping grow the federal revenues. it's all on the spending side. that's i believe where we need to focus. i do think at the end of the day making permanent these individual and small business cuts credibly helpful for growth for the u.s. maria: you would think you want to make sure that the tax cuts in place for the individuals are perm then.
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permanent. otherwise they may be stripped away. we hear nancy pelosi saying if and when she becomes speaker of the house, she's expecting it in november, she will reverse the tax plan and actually raise taxes on individuals. >> yeah, they are doubling down. democrats want to steal those tax cuts back. i worry not only do they take away from families and small businesses, but look at the growth we're seeing, the jobs and investment flowing back into the united states and now look, our future is just so much brighter than it was last year or before tax reform and so i just don't think at the end of the day americans want to go back to the bad old days of the old tax code. maria: i want to get back to the spending issues and paying for it because this is the issue. do you think you're going to get the votes to pass a tax plan 2.0 in the senate given the pushback on spending? >> i'm hopeful. here's why. when i think people know that families and small businesses deserve the same permanency that
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our business community does as well. democrats are pretty outspoken. they couldn't support this because it wasn't permanent for families. so we're going to give them a chance to put their voting card where their mouth is. at the end of the day, i'll tell you in our work, leader mcconnell, senate republicans have been incredibly helpful and encouraging as we work towards continuing to make these cuts permanent. i appreciate their effort. maria: the first tax reform and the first one in 30 years that obviously you led in january, getting passed, was very much centerpieced around the corporate rate coming down. that clearly unleashed animal spirits and had corporations spending again and creating new jobs. talk to us a bit about why the corporate rate was so important and whether or not you are in fact talking about cutting the corporate rate from 21% to 20%
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as president trump told me two weeks ago. >> the corporate rate was important because america had fallen so far behind our global competitors. that was one of the big problems, the job losses in manufacturing, research, flowing overseas. we reversed all that. surprissurprisingly, i don't tht people realized that over $1.1 trillion of that tax cut was on the individual and small business side. that's helped growth as well. we really think locking that in is critical. we think companies now are reinvesting in a way that's helping workers in their paychecks, in their retirement, in their compensation. you can tell the optimism back home is crucial. we want to make sure we're locking that in. maria: this is not just about coming out with another positive thing for people's pocketbooks right before the midterm elections. you really do realistically think this could pass the senate? >> i do. and, look, senate has to work on
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the 60 vote rule so the pressure's going to be on democrats to decide who are they standing with, washington has first claim over your money or you. the pressure's on them. it really is a broader view of whose dollars are these. are we going to keep growing this economy in a major way? so can they get 60 votes. i'm hopeful. it should be that way. but can i make a quick 10 second point here? maria: please. >> 2.0 is about changing the culture in washington where we don't wait 30 years between fixing this code. we have an opportunity to improve it every year in my view and one area is helping retirement savings. we think it's really critical to a lot of families, they'd be able to save more and we've got great ideas i think in this package to help them do that. maria: the only issue is you didn't get one democrat, not one democrat to vote for the tax plan back in january. what gives you the confidence that you're going to get any of them to vote for 2.0.
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>> we're going to see where they stand at the end of the day on this vote. senate democrats i think if they turn this down as well, i think they've made it very clear, he's especially those who are in states that president trump won, the bottom line is they're going to steal those tax cuts back, they're going to have to explain to voters why they're going to do that. maria: obviously the issue over the salt deduction going away has created a lot of debate, blue states are now suing the federal government over the cap on salt deductions, saying it is unconstitutional. would the house weighs and means committee consider addressing this for 2.0? >> from the standpoint of the tax cuts in the high tax states are real for middle class families in a big way. these states are going to fail. this is a gimmick. what i worry about is it will end up landing back on tax pairs. high tax states like new york, new jersey, connecticut, california, will receive a
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windfall in their state governments from tax reform. the big question is do they pocket that in albany and other capitals or do they pass it on to their taxpayers? our point is pass it on, stop the gimmicks, help their local taxpayers. maria: even though eliminating that deduction has caused some individuals to see their taxes go up, you believe that, what, long-term this is going to change behavior on the part of governors and cities in these high tax states, get them to stop the spending or what? what's the point. i know you're all about lower taxes. because you eliminated that detucks, some people's -- deduction, some people's taxes went up. >> we eliminated alternative minimum tax which in high tax states like new york that could be as much as $10,000 in tax. we got rid of that for families under $1 million. so we did a number of things under -- in addition to salt that actually lowered those taxes.
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at the end of the day, the state is the one and the community doing the property taxes, the sales taxes, the income taxes. they should return this tax windfall to their taxpayers. maria: do you think over time that behavior changes then? >> i do. i think the pressure's on states. we pulled the curtain back so now taxpayers realize how brutally they're being taxed by their mayors and governors and state legislators. i hope they're calling them and saying lower our taxes and by the way, pass the windfall onto us. maria: we're taking a look at earnings. morgan stanley had an effective tax rate of 20.8%. the tax cuts on the corporate level have helped corporate earnings and as a result many of these companies are buying back stock, they're increasing their dividends. are they putting enough money into hiring new workers, in your view? >> i think they are. i think the biggest challenge these days is finding the workers. we talked about this really in half a year, we're starved for new workers in america. we're seeing companies invest in workforce, in training, in
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apprenticeships, in development of a new workforce for the future. we think that's an important part of tax reform as well. in fact, that's why you're seeing the house already moving toward how do we train people up, move them from the sidelines and welfare into the workforce. this is a critical -- i think a critical part of maximizing the growth here in america. maria: let me ask you about economic growth because we're actually sealing the atlanta fed raise their expectation for the second quarter to 4.5% in terms of gdp for the second quarter. what's the significance of seeing 4-point -- 4.5% gdp in d quarter. are you expecting that kind of growth in the second quarter? what does that mean for the year? >> a that would be a remarkable number. i don't know that we're going to hit that or not. i think a lot of it depends upon, frankly, making sure there's more certainty in trade, in tariff issues. i think it's getting that workforce. but there's no doubt, our trajectory in the economy is so much different now than it was
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before. we want to keep that moving in a big way. i still think that the keys to long-term growth is also we need more customers. that's through more trade agreements. in fact, we need more workers in a big way. congress, the house republicans certainly are focused on both. maria: what about tariffs? how much will tariffs cut into the 3% growth that we're expecting for the overall year of 2018? >> it's too early to tell. i think over time it will have an impact, certainly creates an uncertainty for businesses. thankfully, our economy's raring -- roaring. we have time for the chinese strategy to work if we get the, clues process right for fairly traded products, if we're exempting countries, i think we can take the pressure off u.s. farmers and businesses and target it more on the bad actor.
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maria: you are expecting at some point if we see tariffs it will cut into growth, though? >> i think at some point it's inevitable. the question is how soon are these disputes resolved. maria: thanks so much. >> thanks, maria. maria: chairman kevin brady joining us. we'll be right back. 100% clear skin with taltz. up to 90% of those with moderate to severe psoriasis had a significant improvement of their psoriasis plaques. most people were still clearer after one year. with taltz, 4 out of 10 even achieved completely clear skin. don't use if you're allergic to taltz. before starting, you should be checked for tuberculosis. taltz may increase risk of infections and lower your ability to fight them. tell your doctor if you have an infection, symptoms, or received a vaccine or plan to. inflammatory bowel disease can happen with taltz, including worsening of symptoms. serious allergic reactions can occur. ready for a chance at 100% clear skin? ask your doctor about taltz.
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maria: breaking news this morning. google has been fined a record $5 billion by the european union. adam shapiro has the details. >> good morning.
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google moments ago said they will appeal the decision. the european union slapped google with that $5 billion fine for breaking anti-trust laws with its android apps. google has been ordered to stop the illegal conduct within 90 days or it could face additional penalties. the european commission has been investigating google's alleged dominance in software. shares of google's parent alphabet are trading lower in the premarket. the software team rescued from that flooded cave in there and, the team is going to speak out for the first time at a news conference. it's taking place right now. the boys are talking on national television overseas about the 18 days they spent underground. the news conference hall is sec crated as a sock -- decorated as a soccer field. the boys left the hospital this morning, one day early, thanks to the speedy recovery. the team members range in age
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from 11 to 16, and their coach, spent at least eight days at the hospital. an inspiring story of a college student who walked several miles to his first day of work. one day before walter carr was due to start his new job with a moving company, his 2003 nissan altima broke down. that forced him to walk more than a dozen miles to get to work. his ceo was stunned by his dedication to the job. >> the heart that it took to do that and i just keep thinking about him, almost like i use him, just think about walter, what would walter do. >> walter's story made it to the ceo o of the move company. he -- moving company. he wanted to thank him. he gave walter his ford escape. carr is modest about his determined attitude. >> i wanted to get to my job and show people that i was
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dedicated. this car will make it easier to do what i need to do. >> local police pitched in. they picked carr up and treated him to breakfast when they saw him walking to his job and pretty incredible story. they're going to be here on fox business, carr and the ceo, 6:0. maria: what a great story. thank you so much, adam. dagen: i hope that's a message to everybody who's spewing hate on social media, present with kindness in both deed and word. maria: let's see if that resonates. dagen: i hope so. maria: bullish on bitcoin, meanwhile, mastercard nailed down a new bitcoin payment. phil mickelson putting on a show, he pulls off an amazing trick shot ahead of the open. we have all the details and a video coming up. back in a moment.
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maria: social media and real estate now intertwined. next door has a partnership with next canary. joining us right now is nirov tolia. thanks for joining us this morning. >> thank you for having me. good morning. maria: take us through the partnership, how it will work for the customer. >> sure. about a year ago we launched a real estate section on next door because we know that neighbors care deeply about the homes that are for sale in their neighborhoods. now we're taking things to the next level. this partnership will not only let our members look at listings
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in the area, it will let them compare those listing to estimated values of their own homes so they can see how their homes compare to the homes that are selling, they can also ask their fellow neighbors what they might do in terms of adding services to their homes, improving their homes, that will increase the values of that asset. >> this is lee carter. i love your app. i moved to the suburbs about a year ago and it has single handedly changed my life in getting there. i've gotten recommendations. i've been able to get rid of moving boxes, get help from my neighbors. maria: that's great. >> it's a great service. how do you make money? >> we make money like pretty much all social media platforms make money. we try to bring in advertisers to our members that will help them improve their lives. when you're talking about your neighborhood, you are talking about service providers, you are talking about the sorts of things you can do that will make your home more valuable. so we are a free platform for
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our members and we always will be and we monetize through advertising. >> one of the biggest kernings i have is -- concerns is privacy. i think it's a big concern, especially if i own a home. i don't want my neighbors getting into my business. how do you combat that? >> next door is a private social network for the neighborhood. so all of the conversations that you have with your neighbors are private between you and them. you have to verify your address to join next door and none of the content is publicly available. through this partnership with house canary, the value of your home is not something that other neighbors can see. other neighbors can see listing for things that are for sale in the neighborhood and they can see the value of their own home. so we always take privacy very seriously and there won't be anything to worry about when you come on next door in terms of the value of your home and other people seeing that. maria: where does the growth come from the next couple years? >> we've been very excited over
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the last couple of years to expand internationally and so now here we are almost 90% of american neighborhoods using next door and we've expanded to the u.k. we've expanded to the netherlands, we've expanded to germany and france. i think you'll see many more countries in the next six to 12 months. maria: we'll be watching. great to have you. thanks so much. >> thank you. maria: coming up, a cyber warning, government officials now say a new g-mail feature could open more users to phishing risks. what you need to know. and how major league baseball celebrated 29 medal of honor recipients at last night's all-star game. back in a minute. ♪ [music playing] (vo) from the beginning, wells fargo has supported community organizations like united way, non-profits like the american red cross,
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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. - [voiceover] this is an urgent message from the international fellowship of christians and jews. there is an emergency food crisis for elderly holocaust survivors in the former soviet union. - this is a fight against time. what we're dealing with is coming out, meeting someone who's 85, 90 years old, can't get around, has no food, has no water, and just wants to give up and die. and that's where we come in.
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we are called to comfort these people, to be a blessing to their lives. - [voiceover] for just $45, we'll rush an emergency survival package to help one desperate elderly person for a month. call right now. - [eckstein] call the number on your screen. - in ukraine, there's no supper network. they don't have food cards or neighbors that come in to help. they're turning to us because they have nowhere else to turn. - [voiceover] your gift is a life line to help these elderly jewish holocaust survivors, help them to live out their final years with dignity and love. call right now. - [eckstein] call the number on your screen. - what i pray is that you won't turn your eyes, but you will look at their suffering and your heart will be changed.
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- [voiceover] with your gift of just $45, we can rush an emergency survival package to help one desperate elderly person for a month. call right now. - [eckstein] call the number on your screen. maria: welcome back. good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is wednesday, july 18th. your top stories right now. tax reform 2.0, president trump met with gop lawmakers yesterday at the white house to talk about another round of tax cuts. moments ago i spoke with kevin brady about the initiative. >> it's going to be a very tight, very focused package. the centerpiece of course is permanence because that's growth, a million and-a-half new jobs and to make sure the future
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can't come back and steal the tax cuts back. yeah, we are on track. maria: he said he is expecting vote in september. markets this morning are flat. dow industrials and s&p 500 both down about a point. the nasdaq composite down 10 3/4 of a point right now. jay powell will have day two of his expectation on the economy today. he spoke with the senate yesterday. he will speak with the house today in a second day of testimony. yesterday markets were higher, the dow delivered small gains, rising about 50 points on the session. the nasdaq finished at an all-time high with a gain of 50 points yesterday. in europe, markets are trading up. they are higher by about 1/2 of a percent to 2/3 of a percent right now. in asia overnight markets closed mostly lower with the exception of japan, up 1/2 of a percent. mastercard jumping into the
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crypto craze as bitcoin surges past $7,000. medal of honor recipients receiving a special tribute at the mlb all-star game last night. we'll have highlights this morning. a golf swing that will make your head spin, the internet's reaction to phil mickelson's trick coming up. president trump clarifying comments he made in helsinki over russia's involvement in the 2016 election. now the president said he supports the intelligence community and their findings on election interference. >> and a key sentence in my remarks i said the word would instead of wouldn't. the sentence should have been, i don't see any reason why i wouldn't or why it wouldn't be russia. so just to repeat it. i said the word would instead of wouldn't. maria: joining me right now, host and author of a new book, nine rules of engagement, a military brat's guide to life
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and success, harris faulkner is here. great to see you. >> great to see you, my first time on your program. i feel so blessed and we have a lot of news going on. maria: we sure do. >.i want to get to the book in a moment, nine rules of engagement, a military brat's guide to life and success. what inspired you to write this book? >> i asked the question years ago as i was going through some things in my life, what is a sure thing for victory. and i began to lean on my old diary as a kid and to pull forth some of the nine rules of engagement that i learned growing up as a military brat. my parents used to tell me, you have incredible resilience, the bar is high for military dependents, people who are around greatness and leadership, there i was only 2, but they still had a high bar for me. let me tell you. maria: of course. look how cute you are. >> i grew up in a family, maria, where there was an expectation of leadership and greatness and
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i was exposed to it a lot through my dad. he was a war pilot in vietnam, two tours. he came back and rose through the ranks. at one point he was at the pentagon, support for the joint chiefs of staff under general colin powell. i was part of that history with him. the family serves with the soldier, the marine, the sailor. we are kind of the other 1% plus, if you will. so i wanted to in this book impart all the things that helped me be successful. those things are solid, like recruiting your own special forces. i started with that one. we know this because we're strong women and we know we're clutch for the people in our lives. we have to demand that for the people in our lives to be that for us too. maria: did you move a lot, harris? >> oh, my goodness. that's my mom by the way. maria: she's beautiful, like you are. what was it like growing up in a military family. >> it was constant adjustment. the resilience was called upon constantly. i was fort brag, germany, that's
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in luddwisberg, germany. we moved around a lot. you know from having teams around you that you've got to recruit them. you can't have negative thinkers. you can have gossipers in your midst. if you're talking with them, they're talking about you. that's negative energy that you need to purpose and your mission for making your victories and victories can be health-wise, getting healthy. they can be dreams coming true. there's so much we can change and fine-tune in our lives by changing the five people we spend most of our time with. maria: i'm so glad you wrote this book. on the air you can see the empathy and knowledge and leader pship that you have as it relates to the military. and how important our military are. >> thank you. maria: you can see it and i hear it on the air. what is your biggest advice to those children of military families that are constantly moving, you moved homes a lot, starting over at new schools, making new friends, it's got to
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be hard. >> remember who you are, that the bar is high for all of us as americans but particularly as military brats and remember whose you are. the nation is our family too. and so we're patriots without politics. i was an anthem singer for a while as a youngster. i would just really tell them to tap into that river of integrity that we grew up with, you know, fill up your cup every day and remember who you are and whose you are. and at the same time, show civilians in our sphere the power of possibility. the military doesn't give up. we have a no quit principle. right. maria: you can't take off in the military. you can't have a sick day. there's no sick day. >> when things get tough we're leaning in. maria: the president tweeting about the economy. i want to get your take on news headlines. the president said 3.4 million jobs created since our great election victory, far greater than ever anticipated and only
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getting better as trade deals start coming to fruition. your reaction on the president's gaoutcomes when you look at the outcome of tax policy and the outcome of the judges he's put in place, the outcome of foreign policy. >> it's interesting, because it's only been seven months that we've been living with these tax cuts. let's just call out some of the things that have changed. the possibility of a person getting a job and now we've got to meet that with training and bringing them up through new possibilities for their application process, because we have a lot of jobs that need to match up with the job force. that changes the entire nation's perspective on where we can go. so those jobs are really important and for a person like me, a person of color, the scope has changed tremendously for how far we can rise so now we've got to have our ability meet those jobs. that's one component.
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maria: american unemployment is at record lows, the lowest it's ever been. >> it's amazing. so there's just so much potential. what the president is doing now is now setting the bar higher for corporations and so we'll see what they will do next in this phase two to make what they're benefiting from turn into bonuses an even more application of potential out there. i think it's a really exciting time. i think a that it doesn't get talked about enough. maria: i know your show and you have covered what has taken place at the fbi and the department of justice, the leadership at the fbi, peter strzok in the hearing last week, lisa page behind closed doors. the president clarified his comments in terms of election meddling. we shouldn't confuse russian meddling in our election with the abuse of power that is pretty apparent that we saw in the 2016 election. >> you know what's interesting about what you're saying? the president needs to say that, probably, at this point.
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because he may not be confused about it but that was kind of the tenor and tone of the message outside of that russian summit. he got back on the record yesterday. a lot of this happening across the hours that outnumbered and overtime are on the air, so we're first person witness to all of this and quick analysis with it, you know, his clarification is helpful, i would imagine, with his critics. it's helpful for a wider america that's watching too. but also to hear him say that there is a separation would be a point of strength from him because people are confused. they don't understand why one political party is pulling him in the direction of conflating them both. to separate those things out and you heard speaker paul ryan say in his comments yesterday, doubling down with, yeah, there was russian meddling but the investigation needs to go forth too. look at what the investigation has yielded so far. no evidence of collusion.
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why would you ever want to stop it? let it play out if you're the president and -- maria: especially when you have guy who was running the investigation into so-called collusion between donald trump and the russians with these hate texts, impeach trump, i hate trump, we're going to stop him from winning, all of this stuff. i think it is important to separate. that's what the president needs to do. just because he acknowledges what is true, that the russians meddled, does not mean they still tried to change an election. >> the question is hanging in the air, why was the mistake made. does he think these two things are conflated. if he says absolutely not, we go forward. in my humble opinion, watching the news unfold with all of this, those were some of the questions that we witnessed on social media and among lawmakers on the hill. maria: there's a good op ed in the jury mall about all of this. you have to scratch your head, won directorring why the doj
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came out with the 12 indictments. >> the timing of it. maria: the timing of it, the day that peter strzok was in the hearing and two days before the president met with putin. they had that information in march, you know that. devin nunes came out with the meddling report back in march of this year. we knew these russians had meddled. >> when i asked that question, i'm called pessimistic about the flow of news and i'm not. i'm just looking -- i understand the timing of things. i know when we know things. it's just a question about the timing of it. it seemed interesting the timing. i would say this, though, one last thing about moving forward with summits, whether it be with north korea or russia, every president has had relationships with people that we don't always consider anil lie. how do you think we got into the iran deal in the first place. maria: which is why you need to speak to your adversaries. >> we didn't find out about this stuff contemporaneously.
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this is before our eyes. we were not in that meeting. i ask you, do you think that congress should have a right to force a hearing on the notes from the white house that's a private meeting between presidents trump and putin? what do you think? maria: i don't know. what's the precedent? what has been the press didn't . what's the precedent before where presidents have private meetings were other countries. >> we know stuff leaks. that's not necessarily precedent we want to -- maria: maria: i don't know. i'd like to see the precedent on that. the president is tweeting this morning about russia. here's what he said. some people hate the fact that i got along well with president putin of russia. they would rather go to war than see this. it's called trump derangement syndrome. you have to say the detractors are looking like they have some kind of syndrome. now they're comparing what took place in russia and helsinki to pearl harbor. i mean, to the holocaust,
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harris. you're a military woman, you're a military family. are their losing their minds. >> it's like a raurshach test. it's like they're looking at something in ink blot and seeing something different in it. when i have democrats on my show at 1:00 p.m. eastern, i like to ask them questions like that. why are you so focused on one thing when we have all of these other things going on. and you know, you get a different answer every time. maria: well, we will be watching at 1:00 p.m. eastern harris. >> it's great to be with you. maria: pick up the book, a copy of the book, nine rules of engagement, a military brat's guide to success. a great read. coming up, bullish on bitcoin, mastercard nailing down a patented for digital payment. phil mickelson putting on a she. he pulled off an amazing trick
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shot ahead of the open, we have more of that video, next, right here. back in a moment. ♪ how do you win at business? 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. bravo, tall meeting man. start winning today. book now at lq.com start winning today. ♪ experience the versatility of utility at the lexus golden opportunity sales event. lease the 2018 rx 350 and rx 350 awd for these terms. experience amazing at your lexus dealer.
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maria: welcome back. federal security officials issuing a warning about a new g-mail feature. adam shapiro has the details. >> good morning. google just redesigned the g-mail service. but the department of homeland security says the system could actually put its 1.4 billion users at risk to phish attacks. they warn hackers can access a user's personal information by taking advantage of a new feature called confidential e-mail. it requires users to click a link in order to access confidential e-mails. dgoogle says it uses software to detect potential phish attempts.
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build a buries taking another shot at their promotion after a disastrous pay your age deal that resulted in chaos across the country last week. customers can buy a birthday treat bear for the same price as their age during their birthday month. unlike the last promotion, this one is limited to children under 14 who have bonus club membership which is free to sign up for. singapore airlines is flying high again. it's been named the world's number one airline in the annual world airline awards published by sky tracks. the awards are based on surveys of more than 20 million travelers. singapore's title is its first since 2008. it knocks qatar airways down to number two. japan's airways took third. emirates finished fourth and number one is ava air out of taiwan. delta airlines, the top u.s. carrier. they came in at number 37. you have to love the cookies,
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right. shares of singapore airlines are down 1% for the year. it looks like the bulls are back for now when it comes to cryptocurrencies. bitcoin continues to surge this morning after crossing the $7,400 level yesterday as the crypto market added $20 billion in just 30 minutes. the market apparently moving past regulatory and security concerns. the gains for bitcoin continue this morning. mastercard could be ready to move into the crypt cryptocurre. the company won patent that could allow card holders to charge purchases using bitcoin. shares of mastercard are up 36% this year. maria, sounds like a bubble to anybody? maria: i don't know. but that was a wild list in terms of the world's best airlines. delta, one american airline, number 37. >> yeah. flying in the u.s. is sort of a miserable experience. delta's the best. i'm a delta sky medallion member. dagen: me too. >> i fly it a lot. it's by far the best.
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i flew united for the first time in years. it was so miserable. maria: really? >> yeah, it terrible. if delta's 37, i can only imagine what united is. dagen: united, the airline that kills your dog. >> it's a negative number. >> they will get you out of the seat that you rightfully purchased. do you remember that? maria: they dragged him off the plane. honoring america's heros, how major league baseball celebrated medal of honor recipients at last night's all-star game. the story and a lot more. sports is next. ♪ year, i am sorry about that. [music playing]
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maria: welcome back. honoring america's heros.
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jared max has highlights from the all-star game in the nation l capital last night. >> it was like a home run derby for the second night in a row. 10 innings, 10 home runs in all. the baseball was flying out of national park. second inning, aaron judge hit the first of five home runs by american league. scooter jeanette forces extra innings, a two run pinch hit blast. into the tenth, alex bregman hits the baseball out of the park and then george springer followed with a home run. american league wins it, 8-6. bregman named the mvp. he got to choose between a chevy truck and a camaro. he took the camaro for his mom. it was a patrioting night in d.c. as we celebrated america's past time. before the game, they honored 29 he medal of honor recipients.
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they were introduced by name, rank, military branch. a combat medic from vietnam threw the first pitch. we learned that the orioles are finalizing a deal to send manny machado to the dodgers. the spurs will send kariy leonard to the raptors. would you let phil mickelson swing a golf club directly at your face. a former european tour pro, gary evanson accepted the challenge. lefty getting ready for the british open and he completes the trick of the flop shot right over his head. talk about control of the golf club. gary evans who stood in front of the shot tweeted i did flinch a bit but do you blame me, a phil mickelson flop shot. one fan tweeted it appears that phil has not in fact lost his mojo. during the tour de france, watch for the bmx bike that goes
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flying over the pelleton. whoa. amazingly, nobody got hurt. when i read the story, i was looking for the pelleton bike that we ride with a screen in front. a pelleton is a group of cyclists. dagen: that's where they got the name. >> makes sense now. >> so that guy didn't get hurt? >> no. >> where did he land? >> next to phil mickelson's golf ball. maria: how about that trick shot. does you have a chance of winning? >> phil mickelson? if you can let lik hit like that when you need it. would you let him do that. >> is he fouring with tiger, ca-
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touring with tiger, saying look at me, look what i can do. maria: people want to see this. >> i can't believe they can get that money at this point in their career for one on one. it's the name power. they're not the two best golfers in the world. >> no, they're not. who would win? >> i root for tiger. dagen: we root for tiger and he continues to -- root for mike fr michaelson. maria: still ahead, the time line for tax cuts 2.0, former reagan economic advisor marty felphelpstein is with us right e "mornings with maria." stay with us. ♪ because my body can still make its own insulin. and i take trulicity once a week to activate my body to release it, like it's supposed to.
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>>. good wednesday morning. i'm maria bartiromo it is wednesday, july 18 your top stories right now 8:00 a.m. on the east coast, markets searching for direction this morning, to look we are very close to where we finished the day yesterday dow industrials down just 2 points, s&p 5 4i7b down one the nasdaq down 9 points, a pretty good day gains across the board the dow up for fourth straight session nasdaq closed all-time high yesterday, with gain of 50 points jay powell is about to go into day two of his humphrey-hawkins testimony an upbeat outlook on economy first day of testimony on capitol hill yesterday back
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later on for day two this morning, in europe, markets higher across the region fts00 up two-thirds of a of a percent cac quarante in paris up a half percent dax in germany up three quarters of 1% markets lower in asia overnight japan up one half of one percent, as you can see, the markets finished fractionally loafer elsewhere entering phase two for tax reform house ways and means committee chairman confirming time lines last hour. >> we had a great meeting with president yesterday just getting on the same page, on what we see for 2.0, in the timetable so we expect to begin our with house republican next week on 2.0. >> the questions remain about the president's trade policies and economic effects president trump tweeted earlier, 3.4 million jobs created since great election victory all greater than ever anticipated, and only getting better as new agreely improved trade deals
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start coming to froougs china customers minutes presaid it will have to take further action to respond to aluminum and steel tariffs kevin brady said too soon to tell whether or not we see tariffs cut into economic growth, a record find for google announced regulatory hit technology giant 5 billion dollars penalty over mobile phone business google says it will fight back antitrust regulators ty sock thai soccer team new deals on their experience we will have the latest, sealing the deal government marks a deal with boeing for new air force one president confirming the jet will get a patriotic new look, stories coming up with all due respect morning joining me to break it down fox business network dagen mcdowell benchmark managing pairn kevin kelley michael strategist block. >> i love coverage on
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microsoft at they are requesting government regulate facial recognition technology he everyone using it the fine on google in eu if u.s. politicians don't do it, the regulation and rules are going to come out of the eu, so i mean a great interview yesterday. maria: satya joined us ceo microsoft said we want a structure from the government we want to know what rules of the a record when it comes to facial recognition and privacy, says privacy a human right we all agree with. >> microsoft earnings tomorrow night going to hear more from them on this. >> the billion dollar market value what are you expecting. >> expectations are high as you point out stocks on fire, i think tech may be ahead of itself we will see what they say about -- >> how they are doing. >> cloud growing 89% year-over-year going to continue that, way going forward we only have scratched starting to scratch the surface of the hybrid cloud movement, you are going to see
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complete i.t. departments part of that hybrid cloud. >> giving amazon a run we talk about a lot of companies not able to compete with amazon, microsoft quite different on that note. maria: sure is microsoft is also partnering up right now with walmart to help them with digital strategy a lot coming up top story this hour right now, tax reform on the fast track house ways and committee chairman brady with me played out a new time line for the vote on more tax cuts to secure deadline in september. i spoke to the chairman asked about corporate tax rate as well. >> so at the -- excuse me maria important because america had fallen so far behind our global competitors one of the big problems the job losses, in manufacturing we -- over cease reverse that had surprisingsly i don't think people roil over 1.1 trillion dollars of tax cut was on the individual, and
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small business side that helped as well we think is critical companies are reinvesting in a way that is helping, workers in the paychecks, in retirement in compensation, you can tell the optimism back home crucial we want to make sure we are lock that. joining us to take about that, feldstein former a regular economic advisory marty good to see you -- >> ken brady confirmed they are working on round two, of tax tax cuts 2.0, tell us about that your reaction. >> well, i think it is important, i think there are two parts of it the new part is the -- the change in the 401(k) plans, extending the savings incentive allowing for automatic enrollment meaning an employer can say unless you don't want it we are going to put aside a small percentage of your pay into a retirement
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plan. allowing small businesses to get together, to do this all that is good will push up our savings rate which is amazingly low runs under 3%, of personal income in the old days, back in 60s, 70s, it ran about 10%, so we need to get that up we need to get it up to protect people in their retirement. >> the president tweeted this morning, on jobs, in u.s., since election he wrote this marty 3.4 million jobs created since our great election victory far greater than ever accepted only getting better as new greatly improved trade deals start coming to fruition. >> do you see tax reform impacting businesses entrepreneurs do you think the trade issues cut into the that growth. >> the savings incentives in the 401(k) reform will build up cal accumulation will build up investment and that will help in the long run the other thing that they are talking about is dealing with the fact
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that tax legislation that was passed last december for individuals expires ends in 2025. >> he said the centerpiece to make sure tax cuts are permanent. dagen: fying out a way to pay for it suj they are not going to argue that all that making a permanent would pay for themselves, because year staring at one trillion-dollar annual budget deficits now, again, part of the problem inability by folks in washington to cut spending built to marty's point, with if you increase savings in this country, that will begin to not only help you know, all need to fix social security but reduce trade designate if you have americans consuming less saving more. >> exactly right, i think the question of extending, the -- the tax cuts for individuals, i thought that was sure to happen, when they passed the original legislation, they
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sunsetted tax cuts 2025 they needed to get budget follow-num down forward there is no chance we are having a tax increase for individuals in 2025. >> if they don't make the permanent. >> if they don't make them permanent that would happen a good issue also for the republicans. >> krits of this first round of ruts krits critics might say all extra money is having corporations buy back more stock, or going to encourage investment, what -- what lines of gdp equation do you see the tax cuts flowing into you mentioned assessments. >> i see them flowing into increases in investment, in the plant and equipment in structures, and in equipment. >> we're seeing that you look at the second quarter estimates, for equipment, and for structures they are way up, that is part of why the
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growth rate is so strong. but what is being talked about now is the -- the personal the personal cuts in 2025. which would otherwise if we don't have an extension, would otherwise mean simply an increase in tax rates for individuals. >> would you see the same kind of anticipated gain in markets that we saw leading up to the last the first tax cut plan would you expect that kind of market performance leading up to it kevin. >> yeah absolutely so i think one of the things is that we we we don't want to tax overtax people right, people and companies know how to spend more than better than government does you are seeing it play out in economic numbers, and one other thing i am interested in getting your take on this martin, because i don't think -- everyone talks about late cycle right now in recovery i am like what what are you talking about recovery didn't start until a couple years ago we were slipping by
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it anemic 1% gdp growth that was just by happenstance, now the recovery actually is just started taking hold, what is your take on that? >> well -- you know, obviously, the economy now is in great shape, very low unemployment, not much inflation, very strong growth this year, but i think it is fragile i think fragile, excuse me, because of the -- the level of asset prices. and if the economy turns down the fed has no tools to offset that. maria: yeah, that is what we have been talking about a lot federal reserve, what this looks like in terms of higher interest rates winding down of the balance sheet dagen. dagen: looks like they are not going to wind jon hilsenrath hit on this the other day looks like the fed is not going to wind down illegalities balance sheet as aggressively, as some had originally thought because they were going to allow more than 400 billion dollars to roll off just this year, so there is that. but also, we should point out
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one of the reasons market businesses resilient through this growing trade tiff tariff fight because tax cuts are permanent, like they can look down the road, right -- right marty look down the road say hey, you know, we can -- let this settle out in washington and we can focus on we know where where our taxes are going to be. >> corporate side. >> right. >> and that is why, the proposal to extended the individual tax cuts is important, and new. >> doctor a lot made about shape of the yield curve was asked about that yesterday mentioned look at long end of the curve represent long term terminal rate what do you say to folks that say the shape of the yield curve might be signaling recession in the emergency room. >> a thing in the past but usually because fed has jacked up short-term rates to very
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high levels, nobody would say that 1.75% fed funds rate is very high. i mean the danger now is it is too low, if they have to cut it, they have got nothing to cut from. so i think the fed made a mistake by not starting several years ago. to push up the short rate i think the loan rate is going to rise not just case fed is tightening but because everybody sees these large fiscal deficits coming along we're seeing inflation, gradually rising. you put all that together, and you are going to have a higher long-term rate. >> quick, the are you surprised rates have not risen yet i think bond investors are. >> yes, but i think it is coming, it has come if you look at the 10-year rate you compare it with the year ago, it is doubled. maria: sure. maria: what narrative recession in 2020 do you not
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see that that is a call. >> i am not smart enough to say tuesday afternoon in -- >> do you see a real estate session or slow down on horizon 4% growth second quarter i am trying to understand what it is waem people raise to think a slowdown coming year. >> after nine, 10 years expansion. >> that is only thing that you can point to -- >> no. >> the recovery. >> no i think we can point to is that long rates are rising going to keep rising, and we're seeing financial investors pulling money out of the equity market putting it into bonds. as bond rates rise there is going to be a temptation to sell stock and if that happens, in a big way -- the s&p price earnings ratio is way out of line with historic perspective i think that is from fragility lies the fact the fed isn't in a position to
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offset that. >> expectations are all the way up there bottom line? >> great to see you. >> thank you so much, coming up a dramatic rescue with happy ending the developments of the boys previously trapped in a thailand cave make first public appearance, that is coming up, then european rrths are regulators hit goal with a fine coming up right here stay with us. ♪
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maria: google responding to eu saying will appeal a record 5-billion-dollar fine from the european union adam on headlines. >> major story google fined for antitrust violations involving android operating system used in more than 80% of the world smartphones eu announced the penalty at news conference within last hour. >> -- illegal practices, to -- markets position in internet space must put effective end to this within 90 days or face penalty payment. >> google says it did not restrict competition but in fact created more choice not just for consumers but also for phone makers, and mobile
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phone companies, shares of google parent alphabet trading lower in the premarket. that soccer team asked you from flooded cave in thailand speaking for the first time, during a press conference, being broadcast right now boys telling journalists about their experience 18 days underground, coach is also answering questions that everybody has been asking, like why did they go in that cave in the first place? >> what -- can we do for the team building -- then, someone suggests that i would like to go -- cave. >> the coach also said that despite early reports all the boys can swim, many of the boys say they were now looking forward to a home-cooked meal, one said he was thinking about fried rice in cave members from 11 to 16, 25-year-old assistant coach spent roughly 8 days in
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hospital. >> well in while in hospital watched world cup most team was rooting for -- france in the final. boeing will build the new air force won after months of talks pentagon awared boeing nearly four-billion-dollar contract current planes are almost 30 years old, and are due to be replaced, but in december 2016 remember this then president elect trump tweeted opposition to the contracts because of expensive cost "the wall street journal" reports boeing is giving the air force a substantial undisclosed discount. >> next generation presidential jet red white and blue paint scheme will replace white and light blew zine president john f. kennedy and first lady jackie o, selects yearsog reports say president trump wants to give air force one a more patriotic look he boeing higher in premarket. >> morgan stanley beats earnings revenue expectations
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we break down numbers and earnings season we are entering the busiest earnings period morgan shares up 3% fda cracking down on the word milk the fallout coming up. ♪ ♪ ♪ it was meant to be it will be it will be ♪ ♪ my father passed this truck down to me, that's the same thing i want to do with you. it's an emotional thing 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.
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show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. maria: morgan stanley abbott labs earnings nicole petallides on the floor of the new york stock exchange with details a market that is pretty flat today nic. >> good morning you are absolutely right flat market
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but we get to see some earnings mover in fact seeing morgan stanley as you noted, be the there in stock is to the upside, by 3% so that is a nice motive up a buck 52 beating on profit-driven by fixed income equities trading everybody impressed with trading revenue number up 18% to 3.8 billion that surpasses the growth for goldman sachs being of course goldman sachs had a great seat in fixed income as well this was one area everybody is impressed by also, everybody wondering some point who will have be succession plan ted heir aparent role increased 9,000 at morgan stanley half revenue there -- we heard about david solomon leaving goldman sachs if fall abbott labs, sales listed full year outlook
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strength news medical device weaker areasing diagnostic stock up 2% so far stocks in reporting for a second quarter 58% roughly companies we've seen so far the beat, back to you. >> thank you so much look at economy markets right now are in president trump the president met with republican lawmakers at the white house yesterday, to talk about another round of tax cuts, i spoke with house ways and means chairman kevin brady about the mitch. >> going to be very focused package, the centerpiece permanent growth a million half new jobs make sure that the future washingtons can't steal tax cuts back growing our economy, so, yeah, we are on track. maria: joining us right now if president, chief investment over portfolio welt advisories
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thanks for joining us previous tax cuts described as rocket fuel your take. >> it has worked we have seen effect especially small cap stocks i am not sure we can afford another round of tax cuts at this point. but i think that is what i am looking at in economy under trump we want to put in that context, is are we seeing a negative effect from the so-called trade wars? and i think that when i was looking at you know, i was on here a few months back said bank earnings only thing we really care about until inverted yield curve until bull market comes to end we saw alone books bank of america jpmorgan expanned during a quarter where we are supposed to have lack of confidence supposed to be scared off because of these trade war rattling so i think that you know this is still a bunch of negotiations, i would love to see what kind of new to tell the trut
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tax cuts. >> to make them permanenters. >> of the plan i am not sure that works long term i don't think we need that to beep bull market running i think upness at this time. >> consumer industrial loan books exceeding expectations jp morgan 7% one fascinating aspect everyone talking about technology space how that led the mart we are going to earnings coming up soon, but i am wondering what is your take on technology, and going in that direction? i mean we've talking about microsoft always talk about amazon, how are you positioning yourself? >> i don't want to be involved in that tech sector it is starlth to seem i don't want to say bubble everybody is so confident that these bank stocks now acronyms longer starting to get into the international thing, this reminds me less 1998 seems more like 1999 now you looking at valuations more concerned
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about that tech sector i think banking sector undervalued right now seeing money just not flowing into the sector. >> i want to point out one thing, related to your discussion with kevin brady, and really trying to make individual tax cuts permanent. nancy pelosi and the democrats did not vote for these tax cuts they could have made them permanent if they had gotten on border letting americans keep more of their own money they have said repeatedly 234g nancy pelosi 83% go to top 1% after individual tax cuts expire in 2025 basing that lie on they deserve to be called out again and, again, and, again, on it. maybe this is the republicans way putting this in front of the democrats saying you can't tell this lie anymore, we're putting in front of you better vote for this making individual tax cuts permanent. >> -- before midterm election. >> it is absolutely it is
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political, and financial and economic but i think that it is political on behalf of the republicans and for the right -- right reasons. >> as voters go to pols in november will know no democrats voted for lower taxes again. >> right. >> like we know not one voted last year in december. >> thanks so much for insights we will watch banks. coming up keeping america safe against hackers i speak exclusively with former national security agency director about private security threat our country is facing fda cracking down on -- some brands may need to alter names coming up. ♪ ♪ 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. with liberty mutual new car replacement we'll replace the full value of your car. ♪ liberty. liberty. liberty. liberty ♪
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two-thirds off a of a percent cac quarante in paris up a third% in asia overnight japan turned out modest gains up a half percent kevin brady weighing in on importance of president trump's upcoming tax reform 2.0, who are not he thinks they will get the votes on the dem's side. >> well i am hopeful here is why i think people know that families and small businesses deserve the same permanency obviously business community as well secondly democrats are pretty outspoken saying they couldn't support this because it wasn't permanent for family we are giving them a chance to put their voting. >> expecting a vote as early as september, new questions, over elon musk behavior whether he is fit to lead he apologized last night, for comments he made about one of
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the thai rescuers that apology to some was not enough. >> when is milk not really milk fda ready to enforce striker guidelines on products, that can actually be called milk we have details later, dr. "mik" all sorts of different milk to choose from this wednesday morning joining me to break it down fox business network dagen mcdowell, benchmark managing partner kevin kelly, advisories market strategist about michael block great to see everybody. >> good to be here. >> housing data was weak there in following o index only in line we are starting to fear perhaps in short term, housing may have peaked. >> you are manufacturing looked good yesterday didn't it. >> it did -- the prior month was revised down -- good data. >> dagen seeing glass half full loving it. dagen: because end of the day you do have to be careful about talking down something that is doing extremely well, and finding negative a largely
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positive environment i have a ten tendency to do that i am a grump manufacturing rebounded last month. >> up trucking plant fire we are going to say there is a lot of good in there not all bad, but i have my concerns. maria: i am waiting for that gdp number to come out. >> here we go he go -- the second quarter right if you get cooling trade sensations with united states other nations sky limit. >> coming up our top story this half an hour president trump backing american intel agencies their assessment of russian interference in the 2016 election, offering disciplinings for press conference with russia president vladimir putin blake burman covering the story at the white house good morning to you. reporter: good morning to you as well a rarity to see president trump walk banning comments complete with 180 degree turn, but that is exactly what happened at the white house yesterday, after the president press conference in helsinki, on monday. when he was asked if he believed the intelligence
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community assessment of russian election meddling 2016 or if he believes vladimir putin. >> people came to me, dan coats came to me, and some others they said they think it is russia, i have president putin, he just said it is not russia. i will say this, i don't see any reason why it would be. >> the president now claiming in a that was simply a slip of the towning. >> in a key sentence in my remarks i said the word would instead of won't it should have been i don't see any reason why i won't or why it won't be russia. >> there are many who still do not believe it, including the -- the top democrat in the house nancy pelosi this was her statement yesterday, after the president's remark said quote president trump attempts to walk back, the dangerous grateful damaging show to proclaim america first policy comrafgs our nation further
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the president trying to do further damage control this morning, by tweeting quote, some people hate the fact that i got along well with president putin in russia, they would rather go to war than see this, it is called trump derangement syndrome i asked kellyanne conway on north lawn why that was not the white house's first reaction, that this was merely a slip of the towning they are sticking by their statement saying the president was able to review transcript and saw exactly what was said in helsinki and now, wants to clarify it. >> maria. >> thank you so much blake burman at white house joining me right now for exclusive interview retired army general former nsa director iron net cybersecurity ceo it is great to so you thank you for joining us honored to have you reaction to president clarifying remarks about the intelligence community. >> first great he clarified those remarks, you know i spent almost 40 years, working
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in the intel community, and these are great people, they are our people. they see are u.s. citizens, that are helping our country around the world. they go to great lengthy to do this many have lost lives so they deserve the support and i am grateful that president trump clarified that, but you know, the bigger issue we go into it not how do we work against countries, that are attacking us in cyberand what do we do. >> let's talk about that, because i think what the president tried to separate was what was going on, during the 2016 election with the leadership, at the fbi, we saw peter strzok obviously, in a hearing lisa page behind closed doors you need to separate that, from the thousands of men and women who protect us every day. >> that is right. >> let me ask you about fighting back, on all of this tell me where the bad actors are is it who we think russian china or are there others.
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>> clearly russia and china have been bad actors we see a lot of attacks from russia you have seen the attacks hit ukraine, but unintentionally hitting many crunches a reasonablessome -- ransom aware grew chinese theft greatest transfer of wealth in history we need to address those problems. >> i am glad you mentioned that the president has been on a campaign, to get the chinese to stop. stealing our intellectual property, and he is using tariffs and trade, as the fix to get them to stop but they won't even admit that they have been stealing our intellectual property for decades characterize the situation in terms of china stealing it some people say 300, 400 billion dollars cost in year for u.s. what are you going to do about it. >> i think it is greater than that i know that is the initial cost when you look at longer term gains, stealing
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the intellectual property for how we build stuff, our innovation is our nation. you know we are an innovation nation the creations that we have across industry if stolen, somebody can produce those half the cost, and police department beat us to market we lose, that is a long term loss for our children, and our grandchildren, so what do we do about that? we need to defend our place to defend our nation and cyber, we absolutely got to get that right. and that is a partnership between government, and industry. >> yeah. >> and can't be, you know, we can push back in say to russia, don't hack our elections but they are going to act in their own national interests. >> exactly so we've go will the to fix that problem don't let them hack in, address this cybersecurity, and, you know, this is -- expen enshal times in it think how fast-growing the phones devices that are out there, how fast this is
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changing the new applications. it is amazing. so this is our future, in binds the energy sector finance sector transportation sector, communications and our government, all together in the same network. >> i am glad you mentioned partnership between public and private because earlier in the week we had, i spoke with satya nadella ceo of microsoft joined me on this program i asked him about the privacy concerns, about you know, what it is going to take to get china to stop stealing our intellectual property remember microsoft has been dealing with piracy for a decade let's take a look what is satya nadella said yesterday. >> privacy, in my opinion is now become a human right, that is how i think of it when it comes to our prulths and services. and the customers consumers everywhere going to demand it and it in products not just about a same company but having a set of rules and regulations especially in democracy like ours, instead
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of us trying to govern government i think the legislative process should govern the companies and their technology and uses. maria: he is talking about the -- the way the government oversees tech whether or not more regulation is that something you would like to see. >> i am not sure regulation is what is needed do i think we need to describe to the american people how we can protect their data, and still protect the country. and this is something you know from the tax on things we have not done well we have got to get that right, because i believe you can do both, and as we saw in the president's review after snowden even jeffrey stone, adviser to aclu government can do this right i think setting the standard how do we protect what information is needed to protect sharing that, is the first step. for -- for a companies -- we are working with energy
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sector, and that is that is a good place to start. and the reason is one they understand how critical they are to our country so companies like ceo tom fanning driving forward doing this private first, but they can only go so far. they've got to be able to share that with the government it is not just homeland security you the is homeland security and defense department because defense department has the offensive capability to stop and attack. and so you need both, you need to practice both. and you need industry to practice with government. so we've got to change the way we think about it almost, you know almost back to -- revolutionary war our country now being citizen soldiers and military. >> who is bigger bad actor is it china or russia -- >> well, both have atribute united states you can say one bigger than the other i am worried more about russia
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hacking into or attacking the eastern europe and the unintended consequences hitting us or if we attack with more sanctions them hitting us so i think would be more disruptive i think china will steal more information i worry about iran too. >> general great to see you thanks so much ♪ ♪ until the day you leave for your trip. add-on advantage. only when you book with expedia. add-on advantage. and i heard that my cousin's so, wife's sister's husband was a lawyer, so i called him. but he never called me back! if your cousin's wife's sister's husband isn't a lawyer, call legalzoom and we'll connect you with an attorney. legalzoom. where life meets legal.
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>> new questions about elon musk and leadership after he apologized for comments made about the diver low helped in the rescue of those 12 thai boys and coach joining us host of "varney & company" stuart varney to weigh in good morning, stu. >> very difficult subject, actually, but i think the profound question is is the founder the visionary behind a brilliant new company is that person the right person to lead that company into maturity? now elon musk made a dreadful comment about one of the divers involved in the thai cave rescue revered to him as
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pedo most think pedophile musk apologized but the damage is done. here is man makes that kind of comment running a brilliant company and you have to ask if he is the right guy to run that company. it is into maturity uber, travis brilliant visionary whole idea of ride-sharing funding company gets it going then because he is running like a frat house out rightly so i wonder if some at tesla will make same comment time to bring in adult let elon musk be visionariry from small corner office without much management power i think that is the question of the day, who is fit to run a maturing company the founder or an adult? >> what a comment. >> may be harsher. maria: you are not you are not. dagen: he is a jerk i
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witnessed firsthand a jerk years ago founding tesla i can never figure out how -- was going to try and sell automobiles to american being a if you act like a jack -- you know what. maria: what an idiotic comment. >> where does something like that come from what are you thinking doing when you say something like that. >> we will watch developments oftentimes you see something a prohibit to future begins 9:00 a.m. eastern join stuart top of the hour don't cry over spilled awe almond milk fda is thinking of cracking down on the nondairy he beverage coming up ♪ yeah, yeah ♪ starts in outer space. where satellites feed infrared images of his land into a system built with ai.
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. maria: welcome back soy milk may need a new name food and drug considering banning the word milk in descriptions of nondairy products dr. varshavski known as dr. plooik the milk is soy, right. >> the milk of soy of almonds so many varieties milk out there this story is crazy, waste are resources from government organization, this is a definition of government waste! because there is no harm that is coming from patients consuming milk almond milk because they thought may have come from crowe no confusion there very clear no harm has come from this why is fda. >>. dagen: wree don't need government to tell us that almonds don't go moo. >> [laughter] >> eloquently, the construction of the argument to be milk has to lactate right preposterous by
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definition. >> all monday milk is almond milk so you are acceptable twoogdz first amendment here by saying that almond milk companies can't label products milk where product lifdz whether dairy aisle choice of spurments every supermarkets jig trying to add layer of regulation brief costs for companies that don't basically have dairy, cows -- >> fda can step in improve health care, and health care outcomes in country, this is not one of them, this is a waist waist resources, and sports lobbying. >> where is it going going anywhere. >> i hope not. the last i heard of this they are going to have an open group session with people coming in and airing concerns, their comments, but they will get sued if they do this. almond milk companies will file class action lawsuit against fda. >> diet trend sweeping globe
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major star power behind kyoto deet backing of celebrities like halle berry will he border patrol james used to help manage type two diabetes tell us about this diet feels we have seen this before. >> a lot of hype are on the deet for good reason has a lot of success with celebrities with patients, especially the type two diabetes condition, we found that certain clinics are able to control type two diabetes with just using this diet no medications shows a lot of promise there, what i don't want people to do is to think this is the answer to all their problems, because it is a very risk diet you are cutting carb from 50% of your carols to about 5. and that transition is very difficult you have to be incredibly stringent restrictive with this sustainability question at best i worry when patients go
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restricted diet won't -- >> adkins, celebrities are skinny because they don't eat that is why they are crazy, because they are calorie did he prooifd bananas not any nate. >> adkins was crazy why would anybody want to eat all that fat. >> would two being to eat higher protein. >> that is me why eat all that meat. >> theory behind this can switch from fueling from glucose change to key tone main source of fuel you can lose weight faster this can clearly brain can work on the body that is hype right now we don't have quality research to back up all these claims so if you are looking to lose weight quickly for wedding it is something. >> killed getting off your butt going for a run! >> oh boy 10 pounds of bacon going to lose weight.
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>> good thing about diet i will say that is good thing is that because fat is satiateing will make you feel if you will most consumer less carries following this diet naturally. >> practicality final mike varshavski final thoughts from this all-star panel back in a minute. 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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and watching what happens on tax cut plan. facebook 2:00. a lot of clues and tariffs. good myc data. have a great day everybody. >> great show. thanks for joining us see you everybody early in the morning. >> bright and early. maria are got this -- go-sees the day. >> good morning, everyone, master's degree summer it is hot yet i could make the case that we're in a summer rally despite over the top outrage about trump and putin your money is doing well this morning yet again it is the big name all american tech stocks holding strong at record levels start with amazon. closing in 1,850 a share. that 33 hour prime day is over. i bet they sold a ton of alexas to lock you into the amazon ecosystem please note in previous years stock went straight up in the 12 months following trial day others heading towards record territory and facebook is very, very

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