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tv   Mornings With Maria Bartiromo  FOX Business  July 26, 2019 6:00am-9:00am EDT

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>> thank you you guys. mornings with maria starts right now. >> good morning to you happy fridays everybody. tgif thanks for joining us i'm maria bartiromo it is friday july 26th your top stories right now, 6 a.m. on east coast, the pulse of the economy on tap today second quarter gdp out later this hrn a final big read before the next week fed meeting we'll have the number and what it could mean for changes and at the feds and chances of that big rate cut coming next week. focus on earnings once again google parent alphabet beating expectations posting strong grouse and rising this morning in premarket and amazon string of reported profits coming to an end stock is down this morning. one and a half percent, alphabet up % right now. still more tech on deck today with twitter out later this morning. also reporting fast food mcdonald's with all of the numbers on earning season that is better than lowered expectationings. then the 2020 race is on, about democrats are taking the lead
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who is falling behind? we've got the latest l polls ahead of the big democratic debates coming up, and end of the month and then spacex reach for stars two big successes lodging rocket to space station and getting the giants space hop per, that even elon musk says looks like a water tower to blast off a the ground. mornings with maria beginsing right now. ♪ we've got a big program this morning joining conversation fox business network dagen mcdowell and the brewer group investsment banker nfl star jack brewer great to see everybody
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today. >> great to see you happy friday. >> my name better than you maria bartiromo. [laughter] >> rally up everybody. dagen is in the house. come on. so sweet. all right we've got gdp this morning that is important. going to dig into that. so we're expecting almost 2% growth 1. % growth so things to watch out for i'll jump ahead. household spending infrastructure, investment and military buildup could contradict 4 percentage point to gdp but get a reversal inventory draw downs and moments in the trade deficit. that's what is in part gave us that 3.1% growth in first quarter is a reversal of that. key thing and we both talked to stephanie she said was how rapidly the venn story are drawn down if it isn't as fast as a lot of people expect you could press it up side. >> focus on inventory draw down is this price to the market
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gary. what do you think market is looking for today? >> i think definitely going to be focusing on the twitter earnings. >> they're at 7 a.m. >> i think we have a real focus right whether god or bad whether it is lawsuits against the companies like google. or whether it is at their monopoly but whole focus is we saw with amazon we with google all really focused on big tech right now. so you know, twitter is just one part that have. i think more of a minor part. but i think that's what we're going to be looking at. >> we want to look at that because there's also a whole conversation about regulation coming so there's that. you met with with president trump. >> i did. i want to hear about the meaning. >> it was a great meeting. you know, race relations right now are -- are topic of conversation across the country and you know i just felt likes it is time to bring some unity to the conversation and be real look at statistics and policy. you know, pun fortunately people have so much emotion tied in this but northern policy so our
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meet was about, you know, the real things that are affecting the black community. >> i want you to go with this morning because you did such a great job in terms of explaining issues facing cities like chicago others and get into that also joining conversation this morning, the founder of health, the the executive chairman glenn is here. former white house press secretary america first action senior advisor john spicer join ughs this morning plunge with former senior advisor fox news contradict tore karl rove former wall street journal editorial board member and trump coauthor steven moore joining us as well a lot say ahead had of the fed meeting this week and a miss technology giant reporting lower than expected results per share that was pressured by increase shipping cost. google on the other hand posted strong second quarter numbers despite the future for future regulation. talk tech for a second you said google is one that you're watching in addition to twitter right? >> exactly. but the real i think nonevent
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honesty is the amazon loss. this is a company when invest in the future. you know, amazon is building and continues to build a mote and that mote is their way to get products to the customer that fist started two day . now we're down to one day . no one else can replicate that maybe wal-mart is trying the problem with with the google of the world is there are more intellectual companies you can do search les where. you can do e-mail elsewhere. you can't get your products next which are all now becoming addicted to from everyone else. >> yesterday we have on the set the ceo chairman of the ups. and you know, it's just become an expectation that i want that package tomorrow. [laughter] and then amazon just has basically changed everybody so now they've got 7 day shipping they've got what you know ups is doing it also fedex but amazon changed on this. prchght anyone can do computing
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things not with a level of expectation that google can, you can't replicate unless you build the infrastructure by retail center by highways to have deliver goods that's the barrier that amazon continues to create. >> amazon stock up year to date before earnings report down slightly in premarket trading but good news in this report is revenue numbers so revenue after shrinking over past four quarters, four periods revenue was up 20%. that's what -- exactly what had investors were looking through. >> has that been the trend when it went public never really focused on earnings but more on revenue growth. >> but got really excited about streak of record profits that it was reporting so that was over but not the revenue growth. >> we reference china that has this 25-year plan. it is amazon that is vesting is
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investing 25 years in the future. >> wow. all right what about facebook? breaking up facebook, the cofounder one of the founders is chris hughes remember months maybe wrote a big piece about breaking up facebook, and everybody was thinking you this is one of the cofounders and he's behind the breakup. it is reportedly working with department of justice right now on antitrust case and chelsea is suing google now for 50 million over free speech after it suspended her ad county this is second lawsuit against this group and suing twitter can which i talk about a lot. now chelsea is suing google. what do you think about this? , dagen? >> i think it is a huge deal that you have a democratic candidate for president going after one the big tech companies. again she is is seeking $million in taj but shines light. this is again the dislike of the
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abuse of people's privacy. and companies it is a bipartisan issue that left and right are well the left and say president trump and some people in the republican party are united on this. this is when you have people far right and far left coming together on an issue this is not good news with the technology. elizabeth warren and ted cruz. right? both agreeing on it that they want to break up companies. >> i slightly disagree. i think this is a -- a publicity stunt i think now it is the hot thing to pick on tech companies. pane i think it's not a $50 million lawsuit it is a $50 million advertising campaign for the rest of the political career. it seems cool to sue google. >> i don't think so they are censoring conservative voices we've seen evidence of it and they've messed warned president trump as well. >> i -- see that's not my take. i think that google like any
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other company is not going to want to turn down dollars. i think that is their perception. but you know maybe that's my perception. their own ideology where things go and people wonder if we see them cheat going into the 20 election. >> but no doubt about it but so does "new york times" they have their own ideology. >> but they don't have a reach of a facebook and they don't have the users that some of these big technology companies have. these companies are more powerful than they have been and they have a lot of influence in terms of dictating what people think. >> should be regulated? >> i would like to see more competition in market but i don't to see wild west where you've got these major media companies having so much power and able to shut down certain conversations. yes. >> i'll flip other way facebook we talk about regulating facebook i don't really care. because i think 99.9% of the fool out there could live without facebook. you could live without google so -- you can't use the internet
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without encountering grade school and they're abusing people's personal information in term of selling advertising. people don't know the insidious behavior because it is behind a wall and any time. you can't not really. 90 -- what two-thirds of all of the ads on internet are served by facebook or google you can't avoid interacting with these giant tech companies and the american people and people around world don't know how they're interacting with these people. they don't really know how google and facebook are using our personal. this is that signing up for a facebook account okay. i'm surfing the internet even if i don't use google search engine google has sway over how ads are served, of how data is collected i don't think that anybody in the government understands what goes on. >> and have search results come up you have massive hate, hate articles. if you google hillary clinton it was like she's the greatest thing since sliced bread that really happened.
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so they put their search results up in a certain way. that's not right. and i don't to see it as an american citizen who wants to sees fairness i don't to see the -- them have this power to sensor such kftion it is not right, and viewers are reacting and that's why we're seeing if people take notice in these lawsuits coming up. look you've got the 2020 presidential race fox news polls this morning we have new fox news polls from former joe biden still in the lead with among democratic voters. senators bernie sanders and elizabeth warren taking second and third place. take a look at what. then a second fox poll that shows american take on performance on race regulations it is the issue where it gets low fest approval rating. as you can see now 32% approving. jack brewer was with president trump, you have a different take on this, and tell us first explain the situation, what led you g to that get this meeting with the president. >> you know any time you have a chance to meet with the president, i mean, anyone would take it.
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but for me deeper than that. you know i spend my time in urban areas in city community dedicated a big chunk of my life help toking, you know, african-americans and people of color not just here but all across the world and to see so much political divide right now in our country where are the rick is coming from both sides but people aren't talking about fact and i have a problem with that. i have a problem, you know, as a person who voted for barack obama twice, a lifelong democrat, you know, but now i go into same city like baltimore i was there three weeks ago from east cleveland and hardest hit areas where african-americans are killing each other. we have no -- no fathers in our house, 77% of african-american men are i'm sorry 77% african-american babies are born without a father. those are deep, deep issues that question of to get to and so when i see a president like president trump, who just released 3100 inmates 91% who
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are black. i mean, at some point we've got to give credit where credit is due and really you know put take actions and just words. >> some of the things that he has done, the prison reform is something that you're very happy with. >> yeah. you go down a list maria you have prison reform. right, the first he overturned bill clinton 1994 crime bill. that was massive corporate incarceration for black men if that has a racist president doing it i don't know what to say. >> push him on rhetoric, though, because you have a problem with professional football players peel have a problem with the go back to where you came from comment. >> dagen, my comments to the president were make it about his policies. some times he says somethings that people can make and to see what it is. but how do you call somebody racist when they're led not more black men than any president in the history of the country? how do you call somebody race whys they put billions of dollars billions and billions of dollars back into the urban areas through opportunity zones
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come on people wake up. >> 281 people have been killed in chicago so far this year. >> let me how many shots maria? thousands shot. >> more than that. take a break when we come back big day for earnings on keek right after this. when the hot sun hits your ice cream lick fast like a cookie dough ninja. apply that same speed to the ford hurry up and save sales event. for the first time ever get 20% estimated savings on select ford models, plus earn complimentary maintenance through fordpass rewards.
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it all adds up. don't you love math? so get here asap because tasty deals and summer go fast. get in or lose out on 20% estimated savings on select ford models, plus earn complimentary maintenance through fordpass rewards. plus earn complimentary maintenance through dear tech, let's talk. we have a pretty good relationship. you've done a lot of good for the world. but i feel like you have the potential to do so much more. can we build ai without bias? how do we bake security into everything we do? we need tech that helps people understand each other. that understands my business. we've got some work to do. and we need your help. we need your support. let's expect more from technology. let's put smart to work. ♪ ♪
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♪ can i get some help. watch his head. ♪
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i'm so happy. ♪ whatever they went through, they went through together. welcome guys. life well planned. see what a raymond james financial advisor can do for you. welcome back u.s. officials confirm iran has test fired a ballistic missile lauren simonetti with details and headlineses this morning. lauren good morning to you . good morning maria identifying warning with a launch of a media range missile weapon law firmed earlier this week from southern coast of iran flew more than 600 mile before landing east of tehran now tensions between iran and west intensifying. after iran ceased a british flag tanker in the strait of hormuz last week. japan's south bank has unveiled second technology mega fund this one is even bigger than is 100 billion vision fund that calls it vision fund two and commitments of 108 billion in
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capital from more than a dozen investors including apple and microsoft, bank itself adding 38 billion dollars. and a this spacex celebrating another successful supply trip to the international space station dragon spacecraft launched yesterday now in orbit scheduled to dock tomorrow spacex also recovered the falcon 9 first stage rocket which can be reused to save money. the company also launching its next generation spacecraft star hopper prototype homed in air for about 20 seconds before landing back on the ground. spacex is aiming to build a completely reusable spacecraft to send cargo and people into out e per space maria pretty cool stuff but sometimes you have to try this more than once. [laughter] yeah that's true good point very cool. thank you lauren. quick break and coming up new york police officers under attack. more videos coming out that show officers getting doused with water. now president trump is slamming
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if new york city mayor bill de blasio for not doing anything about it. then technology earnings were in focus google parent beat expectations last night posting growth and stock is up and a.m. strong string of record profits came to a end stock is down 1 and a half percent. all of that on the other side of this break. can't see what it is yet.re? what is that? that's a blazer? that's a chevy blazer? aww, this is dope.
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this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this but give them a cookie and a star.
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i don't know your phone number. aw well. he doesn't know our phone number! you have our fax number, obviously... today's xfinity service. simple. easy. awesome. i'll pass. welcome back to google the stock to watch with strong second quarter earnings as it gears up for a regulatory fight in washington and amazon quarterly profit keam it a halt last night mostly due to high shipping cost we're also acing twitter earnings in next hour join us
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right now is mahony ceo and ken great to see you thanks so much for being here you own tech so tell us what you thought about all of these numbers. >> really good we have a normal mark now where we reward number where is you bet and raise guidance and you get rewarded for it and amazon up on net and put money in infrastructure that's down a little bit. but grade school as you mention down this morning and starbucks up this morning and intel has been high and we're not much into semispace but high lately. >> anything changed for amazon given the fact that record streak was interrupted last night in >> i don't think so fingerprint so much money back into it and a race to get to your doorstep and consumers are fine with that and pretty soon will be knock at your door within the hour. okay i want to take a canoe out and something is coming with. so really for the race to get to that point there's affiliate money putting into infrastructure make that happen. >> ken have you looked into what, you know, google earnings stuff like that. isn't there story, though, primarily keeps coming back to
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they're an advertising company. >> yeah. is that -- can you keep doing that in the -- is that a sustainable business that we've got as i mentioned earlier barriers to entry but can a lot of people do that? that talk about that -- successful about that. ivelgt 0% of the revenue are profits is in ads. mings 82% of search is only google so searching it. algorithms get you there and next thing you're hitting there and going -- but i guess my point is this, before grade school there were other search engines. why can't there be a search engine at the next google and all of a sudden what is google going to do? >> such barrier to entry these guy like amazon all that you're missing this morning have huge l barriers to answer no answer to facebook social network and no search. and ads served on the internet. that's up. but via google, though. >> well it is via safari google has a relationship every apple l phone you go on browser, it is
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via searches are done via google in actual address bear and they -- even when you're in privacy mode, that there's da it being collected about you. like literally they are tracking your every move via even when your location services are off. if you're logged into google they can track you. i -- theytracked down murders and locations of bodies just reporters based on google. >> so again what does grade school know about us? google doesn't tell us. that's the point. and then they decide to make the decision to not work with the pentagon because they don't like the way the immigration policies going. and yet they want to work with china and working for china's military. >> that's crazy. you know so crazy. back in the search days x site remember these names? you type something in and it was such a messy clot or search engine. google is clean basically clean bar and sell to this day a clean
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bar you type what you're looking for and it gives you ad interesting that google won that space because of the simplicity of doing searches we're talking search but thinking google. i use google for my e-mail i use it for my dock stuff, google maps, and around google. everything. studio without google maps. so it taking over everything. >> youtube. clicking on my phone i'm on google. >> any reason to think that stock trades down because of a bigger regulatory bite? >> that's hard to say. look they just escalated the words and everything this week. we'll see where that tboaz but you know this is a certain bit because they are earnings machine everything we're talking about here at the desk they are earnings mesh and that's something that i think at least put a floor for the stock. >> when a stock. remember back in the day when republic was at 75 went public at 57 dollars tonight it unconventional way and it never there wasn't a split or anything. 1200 dollars. that was when their motto was don't be evil.
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so again got rid of that for a reason. and twitter coming up in a little bit. 58, and it was 85. 858 yeah. so twitter coming up at 7 a.m. in a little while. expecting 18 cents. baa not a lot of love for twitter 35% this year yet last time look 11 buys analyst. 24 hold for analyst. yeah. so again, of course, if they beat the 18 cents holds will move over and investment banking move over to buy. but still not a lot of love here for twitter because they feel not a lot you have millions of followers how do they monetize like all of the this and that's still kind of i still don't really figure that out. see what happens when company reports we have those numbs coming up it is because your behavior on twitter doesn't reflect what you like and don't like and what you might bias and not buy. so if you follow says -- bernie sanders on twitter and follow all of the progressiveses does that say anything about
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what kind of laundry deterrent you like? >> no. that's true. that's how they monetize what you like. i'll take a qk break ken great to see you thanks so much. ken joining us coming up huawei versus fedex chinese technology company says that delivery service lost more than 100 packages containing equipment of huawei. and then special deliverly one woman sweet amazon surprise arriving on time for her birthday all of that right after this. stay with us. -driverless cars... -all ground personnel... ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. no matter what you trade, at fidelity (carrying up to 50 times its tbody weight.essly marches on. it never questions the tasks at hand. but this year, there's a more thrilling path to follow.
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hang on, there's more. want customer insights? we've got those, too. we use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. and you can offer them the perfect products. that ceo gets it. from adding unique capabilities to your company's apps to bringing you loyalty programs, our financial and tech solutions are changing what's possible in all sorts of ways. so, how can we change what's possible for you? welcome back good friday morning thanks for joining us i'm maria bartiromo it is friday july 26th your top stories right now. 6:31 a.m. on east coast. we are on count down mode to gdp this morning getting first read of the second quarter. later this morning, we will see what the growth look like for second quarter 1.8% is the estimate. 1.8% growth markets are up. going into it futures indicating
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gain of start of trading at 86 on dow and s&p 500 up ten and quarter and nasdaq up 40 point right now another big morning for earnings, of course. we're waiting on twitter and mcdonald's they'll be out momentarily after stocks fell after mario we brought you those comments yesterday he was talking about more stimulus on the way. but no rate cut or stimulus yesterday global markets, well take a look at yesterday close where the the dow was down in triple digits but european market this is morning are higher across the board. bouncing this morning after the mario comments yesterday and the impact on u.s. markets. ft is up 43 points and paris is up 27, and dax index in yerm is up 48. in asia overnight, markets were mixed as you see mostly lower. news reporting that japan will remove south korea from its list of most favored trading partners. effective august second the index down half a percent. japan was down half a percent as well. meanwhile rising u.s. china
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tensions fedex holding back huawei packages when it means ahead of the trade talks as we look at shanghai is the place that we will see a meeting for u.s. china relations. new york police are under attack. president donald trump slamming presidential l home powerful and new york city mayor bill de blasio last night after offices are hit with buckets of water. this is -- several times this has happened now and we have not seen any commentary from bill de blasio apple buying intel wireless motor business and premarket take a look it is up almost 5%. what the billion dollar acquisition could mean for the future of iphone and special delivery one sweet amazon surprise arriving on time for her birthday she loves amazon that is a cake. all of those stories coming up this friday morning but first our top story this half an hour is the gdp second quarter report out at 8:30 a.m. expected to reveal slowing growth from first quarter with estimates showing
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growth of 1 ppght 8.. this after the first quarter gdf came in at 3.1%. joining us right now is with wall street journal good to see you thanks so much for joining us. we know there's lots of uncertainty over trade situation that may be is one issue that companies have sat on cash. more so than we saw a year or so ago. what are you expecting from the gdp? >> you know, a lot of pus were talking about getting slowdown in the first quarter of this year and it dpght happen we have pretty strong is growth it looks like that slow down happened in second quarter. you know, consumers are doing pretty well right now with unemployment very low and stock market high, i think consumer spending going to come in pretty well. the big question in this report is what is happening with business investment is you know are we seeing -- what economy needs and people expect is a burst of business investment spending with the tax
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cuts and are we seeing follow through on that and look closely for revisions there are revisions to data not just for first quarter but back into last year and i'll be real interested to see if revisions show any changes in the contour of this expansion. >> yeah. daig opinion the atlanta fed is what was atlanta fed at now? 1.6% i think for the atlantic fed go ahead dagen. >> i pointed out inventory drawdown as yopght to steal somebody's line but what -- what the economy giving the economy takes away that's from stephanie that it was inventory billed in first quarter that helped boost the gdp to 3.1% so you'll see a reversal of that is there any expectation of how fast that reversal will be? because again if it is not as rapid, you could have a surprise to theup sides here. the thing about inventory companies add to inventories
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sometimes if the economy isn't doing as well as they expected sometimes they to it in anticipation of future growth. you know, what is whatting with inventory doesn't really tell you what's going on with underlying growth. that's why economists tend to kind of dismiss big swing to upside and downside that looks like we're getting a little bit of that on both sides in the first quarter and second quarter. i think one of the ways to kind of look through that is to average out growth numbers for first and second quarter because that will take out some of is that inventory volatility. >> in upcoming report is there a specific number or facts in there that you look for as tell or kind of ka that any indicatou say uh-oh that's troublesome for future or great for the future? >> yes. absolutely. business investment. so you know, economy's growth is
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based on the productivity of workers and a the productivity of workers is going to improve when companies invest in more equipment better equipment so we've got a good increase in business investment last year. and then look like it was starting to slow down and we're also seeing shifts in the kind of investment companies they're doing. you know there's been a lot of invest. in software over the last few quarter and slowdown in big machinery. so like i'm going to be looking at those investment numbers very carefully. and the troubling thing is we have seen some slowdown and you really at this point in the cycle want to see a follow through on tax cuts to assure us that we're getting productivity gains that will keep this economy going. >> i'm glad you mentioned software because that's something that people forget when you look at capex according to cornerstone macro total real capex up 4 ppght 8% but software
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was up 11.2%. so software is sort of like awe must spend for companies so we need to really see that when we're looking at overall capex otherwise the capex number that we talk about is underestimating what actual cam exis if you're not looking at software but gown i have to ask you about software and hard ware it is a story of the morning this morning. chinese authority say they're investigating fedex. they believe fedex withheld more than 100 packages containing huawei technology. according to reuters this morning. what do you think this means for next round of trade talk next week gordon chang out with a pretty good op-ed in journal basically saying that now china is seeing donald trump differently. and is behaving differently what's your take on the next round of trade talks here? >> well, on the huawei issue this is something that's been going on for a few months now. you know, originally huawei is asserted that fedex diverted a
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couple of packages that were going from japan to china diverted them to the u.s. and there was this investigation that looks like this investigation that chinese are now saying you know uncovered that it was a lot more than a few packages so i would call, you know, what is coming out of china today and escalation these accusations that fedex is in the middle of the whole u.s. china huawei fight it doesn't help the next round of trade negotiations. you know, the president when -- when he met with president xi in at the g20 meetings a few week ago said they were going to ease up on some of their sanctions on huawei and that continues to be a thorn in the side for both sides you know frankly we're just not seeing a lot of frog on these negotiations it looks to me like it is something that could drag on for months not year. >> jordan chang point in the on sed say basically look for a while i thought that it was and
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a lot of people thought that it was u.s. trying to maintain its dominant position in the world. but, in fact, it is not protecting its own status it is protecting the system. that the u.s. has a duty to stop china from becoming the largest military superpower because it is a communist nation because you toangt want it to be dominant superpower. >> you know, that -- i mean that's part of the whole back drop of these negotiationses is you know, that u.s. sees china as growing threat not just economically. but also militarily, and geopolitically they're also using their economic might to assert themselves through this project called the belt and road project where, you know, they're building, you know, political and economic ties across asia and, you know, across central asia, and into europe. and you know, i think that u.s. is trying to counteract their
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assertion of becoming major power. no question. >> out of the talks next week great to see you thanks so much. >> sure thing. meanwhile president trump clashing with new york city mayor and 2020 hopeful bill de blasio over attacks on new york police officers. lauren simonetti with details and headlines it is now. lauren. >> president trump slamming de blasio calling the drenching of nypd officers unacceptable. >> probably the worst mayor in the history of new york city. is done a bad job and now he's running for president that people can't even believe it. he's horrible mayor. that policeman just and women cannot stand him. de blasio firing back tweeting crimes gone down, year after year in new york city and it is not just because you finally left town. three people have been arrested on misdemeanor charges and released ample buying modem business the cost about a billion dollars acquisition means that a is on way to producing its own 5g modem for a smart phone.
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rather than having to rely on intel surging after last night raised a full year with revenue back up 5% and woman get a pretty sweet dloifer rei for her birthday. this amazon box is actually a cake and emily mcguire husband thawgd it would be perfect with three every week even ship label there is edible. and look, one, two, three, four birthday lane happy birthday to you is the address very cute. only three amazon packages week but that's not -- happy birthday emily and robo crack down a new house bill helping to curb announce which state and most amount of calls coming up next. and then returning to form trerkt quinton taryn teen know back with a 9 m film called once pob a time in hollywood your weekend roundup. right after this. ur trip?
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ur trip? ouch, okay. huh, boring, boring, you don't need to see that. oh, here we go. can you believe my client steig had never heard of a home and auto bundle or that renters could bundle? wait, you're a lawyer? only licensed in stockholm. what is happening? jamie: anyway, game show, kumite, cinderella story. you know karate? no, alan, i practice muay thai, completely different skillset.
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fun fact: 1 in 4 of us millennials have debt we might die with. and most of that debt is actually from credit cards. it's just not right.
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shows colorado lodge more robo complaints than people living in any other state except one, nevada. data shows robo call complaints to ftc grew 165% between 2014 ringing in the summer peaking in august. ha louisiana time this morning s spurning trump for major automakers agreeing to gradually increase fuel efficiency standards. rejecting the trump administration efforts to relax, tail poop pollution roles. the deal between the california air resources board and ford honda volkswagen and bmw covers 30% of new car and suv sold in u.s. and german says this morning milwaukee county zoo announce a birth of adorable red panda it is a girl. bundle of cuteness born june 7th tipping scales 1.6 ounces and cub and her mom out of sight until september. [laughter] >> that's awesome that deal with
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california is important whether the trump administration because there's a two-tiered system in the country because of the trump administration physician on the fuel economy standard so president obama was allowing california to drive essentially that decisioning making about fuel efficiency standards now two tier system and entire autoindustry is waving to see if they can come together to create a national standard rather than one for california and one for the the rest of the united states. i guess that's what trump administration was trying to do but california said no we're going our own way. automakers ford honda bmw gave in. all right you go coming up returning to forum quinton back with a ninth film once upon a time in hollywood. why it may be his last. stay with us.
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can't see what it is yet.re? what is that? that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this but give them a cookie and a star.
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♪ so rick explain to the audience exactly what it is that a stunt devil does. sm required to do a lot of dangerous stuff. meant to help carry the load. >> is that how you describe your job? >> carry his load? >> that's about right. ♪ >> that was a clip from once upon a time in hollywood quinton tarantino film debuts today. mike fell great to see you. >> hello maria. >> i want to hear all about this film. tarantino talked about retiring after this film. >> you did look this film is rarity in hollywood these days. it is a movie not -- with nonexisting characters and nonfranchise no comment not based on comic bock and tarted
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towards adults. who knew that we actually count in hollywood these day maria. i'm not a big fan but i cannot wait to see this movie it is set in 1969 hollywood transition with whole manson family and going on in the background in the murder of sharon tate. the review have been fantastic. it was made for about 909 million dollars, not including marketing, it is estimated come in around 30 million dollars this weekend it is a big gamble for sonny banked a lot of recent slate on nonfranchise comic book movies. the first weekend is not what matters with this movie but really second and third this movie could play very well going well into september. >> wow. is this a watershed moment, though, you think for hollywood as you pointed out this is old school how they used to make movie stock and -- do you think it is this hollywood say look nothing but coming book movies and sequels from now on thinking to date has been this movie blocks in streaming because that's where we've been watch i've been watching.
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blasting tarantino does not belong -- he belongs on big screen. [laughter] he is had the rarity in hollywood. he is an artist. he is, an old school filmmaker an his success whether -- because again he went through that very long dry spell and then he had kill bill volume one and two and came back with inglourious basterds highest grossing film and there's nothing like going to see a tarantino movie on ohing night. people cheer. they cheer at the opening credit and they cheer during the closing. >> i saw pull m fiction i ran out of the room i was out of there. kill bill and they just -- best film i recommend it jackie brown that is his best movie i think. >> i don't think i've seen that one. have a good trailer for highly anticipated a beautiful day in the neighborhood. debuting this week as well. the film star tom hanks as
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iconic tv host mr. rogers watch this. >> the best thing we can do is to let people know -- listen to one of them -- he really looks like him. your thoughtings on that. >> he has it down to headed to oscar right now. this -- over 60 million people viewed this trailer when it debuted in spark over 200,000 social media conversations. i think a lot of people aring looking forward to this movie a lot. he's still a beloved character to this day and opens up in thanksgiving. j cool if you're too lazy to go see once upon a time in hollywood pam greer and jackie brown you'll watch it five times -- never leave your living room. >> awesome. good stuff this weekend i know your interview with samuel jackson and sunny movie interviewed him and 12 time playing nick fur rei i asked him what it was like and still fresh with a little fun that daniel
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craig expense. [laughter] i'm not james bond okay with being nick for however long they need me to be him. >> i can't see -- associated with these character anymore way to be john wayne and i'll figure it out. john wayne, about sure. [laughter] he's the best great job security. michael still ahead earnings on deck this morning moments away from twitter quarterly report mcdonald's out in about an hour all of the numbers an reaction when we come back then, of course, gearing up for gdp report out about an hour and a half. up next mornings with maria. back in a minute.
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maria: welcome back. good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it us friday, july 26th. breaking news this morning, we're waiting earnings from twitter, follows strong results from other companies in the space, facebook and snap. it comes as pressure for more regulation is gaining momentum. alphabet beating expectations last night. it posted strong growth. the stock soaring this morning, up 8 and-a-half percent. amazon's string of record profits came to an end. it is down one and a third percent. broader markets looking good. futures this morning, s&p futures up 8 and-a-half, nasdaq up 32. colgate just missed estimates, you see it on the screen. we're getting fast and furious earnings this morning. all that coming up this morning. joining me to break it down, dagen mcdowell, garrett smith and former investment banker, jack brewer.
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great to have you this morning. >> great to be here. >> great to be here. >> beautiful studio. maria: thank you. like the new set? >> love it. maria: we're waiting on twitter, it will be out with quarterly numbers. you said you're interested in seeing what the company delivers for the quarter. tell us what you think. >> here's my take on twitter. i always think at the end of the day how i view a company is how i personally engage with it. the story with twitter, i used to be a twitter addict. i used to own twitter stock because i used it every 30 seconds. now, honestly, it's become a tower of babel. maria: let's get to deirdre. the numbers are out. it missed estimates on the earnings line deirdre bolton with the numbers. deirdre: a huge miss as far as earnings go. twitter is posting five cents a share. a huge miss on the earnings number. you have revenue better than expected, $841.4 million for the
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quarter. and that compares to $829.07 million. something more important that this past set of data, for this current quarter for revenue, the company is issuing weak guidance. so i am sure as we can see from our screens here, the stock is going to go lower, my prediction premarket with the earnings miss and the revenue quarter for this current quarter that we're in, the guidance being lower. but just to clarify, they did in the past quarter, that's second quarter, exceed revenue expectations. as we know, they stopped publishing monthly active users and there were a lot of people who said this just makes it easier for the company to obfuscate some of their growth or lack thereof. i'm going to see if i can get some of those figures, even though twitter doesn't give them. we can find them elsewhere. back to you. a clear miss for profits. maria: a clear miss, is it 139 million monday advertised ,
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what's your reaction. >> they stoppe started hiding te number of users. it used to be the greatest news platform in the world. now it seems like a nature's a r people to say here what i'm doing on vacation. maria: how do you monetize twitter? you're not necessarily going to get ads from people doing hey, i'm on vacation, doing this and that. >> even if you coffing it out, it's an advertise -- even if you could figure it out, it's an advertising platform at its core. it's losing engagements. maria: let's bring in dan morgan. it's good to have you this morning. what's your reaction to these numbers? >> maria, it's a big surprise because we saw great numbers out of facebook, their advertising revenue was up 28%, snap had a 48% jump in revenues and even amazon, even though it's kind of
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a maligned r report, their other revenue figure which is mostly advertising was up 37%. so it's kind of startling to see that they did miss so heavy on the bottom line. but somewhat encouraging that they did beat heavy on the top line. i had advertising revenue at $699 million. which was about a 16% growth rate from a year ago. so i guess if we kind of dissect through those numbers we might get more clarity. that miss on the bottom line is really surprising considering just about everybody else in that space did extremely well. maria: what's your expectation for monthly users? >> i was looking for 323 million on the -- in terms of monthly. again, it's kind of -- as you know, maria, they don't give as much data as they used to, they keep changing between daily average users and monthly average users. i had 323 million was my estimate coming in which was a 7 to 8% growth rate from a year ago. dagen: the average monetizeable
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daily active usage was 139 million, compared to 122 million in the same period of the previous year and 134 million in the previous quarter. maria: these are monetizeable users. dagen: the daily, the daily active usage, average monetizeable daily active usage is how they break out out. they go into detail to explain how they come up with that number. maria: what do you think, dan, about that number? >> well, what it shows to me, maria, there's not a tremendous amount of growth, looking at single digit growth from a year ago and little bit improvement from the last quarter. i think that's been the real difficulty with twitter in terms of their monthly or daily average user growth. and then as you're talking about before, how do you monetize that. i think the average person is on twitter for maybe three seconds where facebook they're on for about 30 minutes. >> dan, i think the real question is, as you point out, that let's say the usage char ue
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charityabley,s is flat to slightly up. why is that? >> what's interesting about their overall mix in terms of international/domestic, is most of their growth is coming internationally and a large proportion of their users believe it or not are international. >> i do believe it. >> so domestically, they've become as you were talking about before, it's become kind of saturated. it's kind of an old story and you're not getting that incremental growth in the u.s. got to remember too, the amount of revenue that they derive from advertisers per u.s. user is much higher than it is internationally. so that kind of goes into the consistenconundrum in regards tn the miss on the bottom line. that's kind of a struggle for twitter going forward. >> good point. dagen: what's kind of telling in this, in the release from twitter, is the first thing in it, the first quote in it is about them basically enforcing the rules on twitter.
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health remains our top priority and we are proud of the work we did in q2. our focus was ensuring that our rules and how we enforce them are easy to understand. we also continue to -- sorry. it got cut off. continued behavior resulting in an 18% drop in spamming or suspicious behavior across all tweet detail pages and which show replies to any given tweet on our service. they're concerned with how people are interacting on the platform and getting rid of bad actors or abuse. maria: interesting stock reaction here. are you surprised that it's up 3%, dan? >> well, maria, it's probably on the revenue numbers. that was a big beat on the top line. you mentioned about the security side. i would imagine that they're kind of upping their cost in terms of scrutinizing their members and going through and making sure security's in check and that's probably what leveled down to the bottom line because
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it was a good beat on the top line. i had $829 million in revenues going into the second quarter. looks like they beat it pretty sizably. dagen: 18% increase in revenue is pretty doggone good for twitter. maria: $841 million was the revenue. i want to ask about alphabet and amazon. first, jack brewer, jump in here. >> twitter had big plans for streaming, likely sports and gaming. fantasy sports continues to rise, legal gambling continues to rise, being able to chat amongst the platforms could be a revenue source for twitter. what's your opinion on that? >> in terms of their increasing their overall basically usage? they have soccer, they have football. they're doing all kinds of things to basically increase the number of usage in terms of time. as we mentioned before, the average user is only a couple of seconds and they're trying to
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get to the point where people will kind of listen for an entire game. maria: everybody wants live. >> you can work in the advertising from there. >> and gambling. maria: people want live and l gambling. >> in my opinion, that's a big area of growth for twitter to capitalize on. there's a lot of money going into gaming platforms. no social media platform has gotten their hands around the gaming side and that's what's going to control, particularly the sports market. maria: that's what the nfl is trying to do, to get their players and get younger viewers, they're doing it through gaming for sure. let me ask you about amazon and alphabet, reporting second quarter earnings, both seeing growth. alphabet reporting a 13% increase on income compared to last year. amazon reported a 3% gain. what's your take on these two situations? alphabet shares this morning are up 8 and a quarter percent, amazon is down 1 and-a-half percent. >> it was kind of unexpected.
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going into the quarter, everybody thought amazon would have a good quarter and google would not because of what happened in the first quarter. i think with amazon, it's actually a pretty good report. aws was up 37%, we mentioned other revenue which is tie i advertising also up the same amount. the big thing was the cost associated with $800 million they spent to give that one day shipment for prime members. google was a huge surprise. we saw their other revenue category, whichs is play store and hardware and their cloud unit was up 40%, advertising was up 16%. so i think you're starting to see google get some legs here in terms of trying to monetize some of these emerging businesses for them like youtube and so forth. and so it's kind of -- it was interesting, because coming in everybody thought go google wast going to do well and amazon was. it was just the opposite. maria: do you own that stock? >> we own google and amazon, pretty sizable positions for us
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and we have pretty large profits for us. we purchased them quite a long period ago, as we did apple. it has done extremely well over that period of time. maria: what about twitter? >> we own that also. it's not a huge position for us. it's not massive. but it is a position that we hold but not nearly as large as the other three. amazon, google and apple. maria: any impact that you see on forthcoming regulation? >> well, you know, maria, i mean, the federal trade commission check that facebook is going to write for $5 billion, it's a huge number, unprecedented. i think google wrote a check in 2012 for 23, $24 million. it kind of starts a bad precedence going forward against all these companies, twitter, amazon, google, facebook. it kind of leads to things that aren't so good obviously for these companies but facebook kind of shrugged it off the last
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quarter and hopefully other companies can also. maria: we'll be watching. good to see you. thanks so much. coming up, the battle at the border, an exclusive look inside a detention center in california. we'll take you there live, griff jenkins did a great job there. then, nancy pelosi hoping to quell tensions ahead of a meeting with alexandria ocasio-cortez. we'll preview the meeting when we come back. ♪ so you want to play with magic. ♪ boy, you should know what you're fighting for. ♪ baby, do you dare to do this. ♪ because i'm coming at you like a dark horse. our investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity.
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you need decision tech. kevin, meet yourkeviner. kevin kevin kevin kevin kevin kevin kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you. maria: welcome back. now to the crisis at the border, as democrats are slamming the facilities as unlivable, we're getting an inside look at one of the largest i.c.e. centers in the country. griff jenkins joins us live from california where he got an exclusive tour. griff, incredible work you've been doing this morning. good morning to you.
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>> reporter: hi, maria. good morning. we saw the protest a few weeks ago about the conditions here, some critics saying it was inhumane, they lacked necessary supplies and support. so we got this rare look. the acting director of the la field office, thomas jaust took us inside. here's what we saw. watch. >> acting director, where are we? >> we're currently in the intake processing center at the i.c.e. processing center. this facility here houses up to 1,940 detainees. after they get classified and after they get booked in by the facility, we're giving them hygiene items. they have soap, shampoo, conditioner, tooth brush, tooth paste as well as they get -- they have bed linens, socks, shoes, shower shoes and their uniform when they're detained here. medical care is a top notch priority. we have a full-time medical chin clinic here. we offer consolate phone calls,
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pro bono attorneys, a free phone call. >> what is this area. >> we're in the special housing unit. this area, the individuals detained here are individuals that committed infractions. >> like fighting or -- >> the most common infraction that's occurred here is refusing staff orders and fighting. while they're in here, they have open movement. they have the ability to roam around the area here. we have phone calls, phones for them to use, we have books for them to use, individuals are able to play x-box and watch movies. >> these guys are playing soccer. i presume this is the recreation yard. >> we're in the recreation yard and we offer anywhere from two to three hours a day if not more, depending on availability. >> in terms of the characterizations out there, there's a big national debate. but what do you want people to know. >> i want people to know that when the individuals are detained we give them the care and custody they need, we do everything we can to keep individuals safe while detained
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here. >> reporter: maria, i.c.e. has about 53,000 people in custody across the country. this is one of the largest facilities. it's one of about 31 across the country. we really wanted to speak to some of these migrants detainees to find out from them firsthand to find out what conditions are like. here is what one of them told me. listen. >> do you think this is humane treatment? >> yeah, i think it is. it's a blessing, you know. it's a blessing to wake up and have a little bit of freedom and get out and watch tv and be able to talk to other detainees and like that. other places, you don't get that treatment. >> reporter: this is a little different from where you were down in texas, you saw the border pa l troll processing -- patrol processing center. about 60% of the people here were convicted of crimes already in the u.s. there are no children here. these are all adults, men and women over the age of 18.
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maria: so are there different facilities for families, griff? because the whole issue about separating families, tell us where that fits into this. >> reporter: children or families kept together are held in separate facilities, run by hhs, under the office of refugee resettlement. we've not been in one of those, but clearly the folks that are here are only adults. children are either at a special place or families in another spot. and an interesting thing we're hear about probably in the upcoming debates about this whole abolish i.c.e., how i.c.e. is treating people, the director of i.c.e., matt albins, told me they spend some $270 million on migrant healthcare just last year alone. maria. maria: griff, thanks so much. great work. griff jenkins joining us there at the detention center. i know you've been to detention centers as well, jack brewer.
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>> particularly, you look in the background, you see that's a jail run facility. i've been to several facilities and exactly what you saw that inmate say is what i saw all the other prisoners say in the prisons in the facilities that i've been to. they run state of the art facility, have the best rehabilitation programs that i've ever seen and i've been to a lot of them. maria: when we come back, anything for views, we show you which youtube videos are favorite. and a company revolutionizing care for patients with chronic pain, that's next. ♪ this was me before liberty mutucustomized my car insurance, so i only pay for what i need.
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and this is me now! any physical changes to this man's appearance are purely coincidental. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ can't see what it is yet.re? what is that? that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this but give them a cookie and a star.
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maria: welcome back. lavongo health going public yesterday, 36% soaring, they are revolutionizing the way patients with chronic conditions manage their lives. joining us now is glen tuleman. thank you for joining us this morning. >> good morning. it's great to see you as well. maria: congratulations on a great debut. that must have felt good yesterday. let me get your take on the issues at hand in terms of living with these chronic pains and what lovongo does to alleviate that. >> well, thank you. lovongo is empowering people with chronic conditions to live better and healthier lives. what that really means is we make it easier for people to stay healthy. in today's world if you have diabetes or hypertension or dealing with behavioral health challenges, we've created a health system that makes it hard to stay healthy. we put a lot of barriers in front of you. so at lovongo we use technology
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to reof move those bear yes, and put people back -- barriers and put people back in charge of their health. maria: how do you do that? in what way? >> number one, we use connected devices, whether it's a connected glucose meter that people use to check blood sugar, they prick their finger and check their blood sugar to see if they're in range and healthy, whether it's connected scales that we can help give people insights and feedback or connected blood pressure cuffs, we talked about our amazon alexa enabled blood pressure cuffs that actually talk to people and give them feedback, so vai variy of tools that allow people to get personalized insights that they can use to stay healthier and that way we're keeping people healthier, keeping them out of the hospital and outside of the healthcare system. >> glen, congratulations on your ipo. you can't help -- >> thank you. >> whenever you hear chronic
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pain, i think unfortunately opioids. i wonder what your thoughts are on this opioid crisis and whether your company has any involvement in using opioids in your treatment. >> well, we really don't focus -- we have some behavioral health products that would help people with chronic pain, but we're really focused on chronic conditions. it's interesting that in the united states today what people don't realize is 90% of all healthcare costs are related to chronic conditions. and one out of every two adult americans in the united states is dealing with either diabetes or hypertension, about 40% of americans have hypertension. so that's really our focus as opposed to the opioid crisis, which is a terrible thing. we're trying to keep people healthy so they don't get to those points. so this is more of the
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traditional type 2 diabetes that we hear so much about. dagen: i was just going to say, though, it's a long road, glen -- it's dagen mcdowell. i'm sitting here listening and, again, there's a la a lack of a discussion about personal responsibility in this country. jack brewer is shaking his head yes. but again, when it comes to things that are related to obesity and the opioid epidemic, there is no discussion about personal responsibility and the people who, say, need opioids can't get them with relative ease because of the a abuse by others. maria: re-with getting ahead -- we are getting ahead of some disease, we're living longer, technology is helping. but you're right, it is -- the onus is on the individual. >> well, the great news about what we're doing is today healthcare is done to us and what we're doing is we're putting people back in charge. what we're able to do for both
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our clients which are large self-insured employers or the large payers a an and pbms and e government is we're giving people tools to take back control. in every other area of what we do in our daily lives, we're in charge, we're in control. we're given tools that make it easier to stay in charge. in healthcare, imagine if you had to prick your finger every day which is not fun and then someone says every time you do it you have to pay a copay to do it or pay a charge to do it, so what we're doing is we're saying we're going to make strips free, eliminate copays, just take care of yourself and we're empowering people and they're responding. 192,000 people already, growing every day. we have 32 million to go. and that's just diabetes. the great news is, people love what we do. it's the first time in healthcare that people actually love a service that they're
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getting. so we have this platform that says we can actually help you be back in charge of your healthcare. maria: let's hope this keeps resonating, people getting ahead of disease rather than caring for disease. glen, good to see you. thank you. >> that's right. thank you. maria: coming up, making amends, house speaker nancy pelosi attempting to ease tensions ahead of her meeting with alexandria ocasio-cortez. then, steve bomber fired up once again. he went wild introducing clippers players and the team is unveiling its first look at the new stadium. ♪ havana, ooh na na. ♪ half of my heart is in havana
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fun fact: 1 in 4 of us millennials have debt we might die with. and most of that debt is actually from credit cards. it's just not right. but with sofi, you can get your credit cards right - by consolidating your credit card debt into one monthly payment. you can get your interest rate right - by locking in a fixed low rate today. and you can get your money right. with sofi. check your rate in 2 minutes or less. get a no-fee personal loan up to $100k. maria: welcome back. good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is friday, july 26t 26th. your top stories right now.
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we're on countdown to the gdp, we're getting the first read of the second quarter growth number in an hour. the expectation, growth of 1.8%. it is the final big read before next week's federal reserve meeting where we're expecting a cut in interest rates. twitter out with earnings, seeing a rise in users viewing ads. the stock is up now 7%. it's soaring now, it has been in the last few minutes, taking off. futures meanwhile showing a market that will open higher at the start of trading this morning, dow futures up 76, s&p up 9, nasdaq up 32. this on top of a down day yesterday, stocks fell after comments from ecb president mario draghi warning of a slowdown in europe. dow industrials down yesterday a half a percent, the nasdaq was lower by 1%. global markets this morning are bouncing. in europe, gains across the board this morning. fq100 up 45, sac cac in paris u, dax up 43.
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in asia overnight, take a look at the markets. they were mixed, mostly lower. japan will reportedly remove south korea from the list of most favored trading partners, that's effective august 2nd. japan was down half a percent. democrat in-fighting, nancy pelosi meeting today with outspoken congresswoman alexandria ocasio-cortez, we take a look at if this meeting can cool the climate within the party. what's hot on youtube? a new poll reveals what people are watching and the results might surprise you. steve bomber getting excited again. he's reved up with the clippers' new lineup. we'll show you what he said. all those stories coming up this friday morning. our top story this half hour, investigate the investigators, president trump speaking out last night on hand a hannity, ay after robert mueller's house testimony. >> so they create this phony crime and then they say he obstructed. they said there was no collusion, but he obstructed. and there has never been anything like this ever before
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in our country. this crime was -- the crime was committed on the other side. and we'll find out about that. we have a great attorney general who is looking at it. i'm not involved in that. he's looking at it. and, you know, i've been hearing a lot of -- the media actually is talking about investigate the investigators and a lot more than that. and i think that things are -- i just see it. i feel it. i think a lot of good is going to come out of it. maria: joining us right now iss former white house press secretary, senior advisor and spokesperson, sean spicer. thank you for joining us. >> good morning. maria: a lot of conversation in the op eds, post the mueller testimony about not in my purview, a lot of things he refused to talk about. kim extrakim starssel wrote mr.r
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dodged and weaved and refused to answer questions. his testimony has raised questions about how in control he was of the 22-month investigation or the writing of the report. mr. mueller and his team are clearly playing their own important role in hiding the truth. the mueller testimony only highlights how important it is that attorney general william barr is finally pursuing accountability. she writes that in this morning's journal. i've been asking the question for a couple years now, can we even have any credibility of the special counsel if he doesn't focus and he doesn't look at the origins of the russia investigation, things like fusion gps which by the way he said he's not familiar with. >> yeah, i mean, i think those are amazing questions. there were a bunch that were asked of him in terms of people that were involved in this investigation or rather the origins of it as you point out that weren't mentioned at all in the report and he gave no answer
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as to why they weren't mentioned, what their role could have been. but when you start to peel back this onion, has occurred, you start to hear about how a lot of this actually began in the first place in terms of carter page and george papadopoulos and how they were first brought into this orbit and tracked and who gave them what information and sucked them into this and you start to realize this sounds really, really shady. when mueller testified, the irony was this was supposed to be the democrats' moment to bring the visual adaptation of the mueller report to life. they called it a movie. they wanted americans to see it in a different way. they thought it was going to be a big win for them. i think this was a huge disappointment for the democrats. she pointed out he looked flustered at times, he muddled through. i think this was the key thing
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that got attention, a when he ws asked did you write the press release, did you authorize the press release, he couldn't answer the question. when asked how much he wrote of the report, he deferred on that. that led people to believe it was going to be called the mueller report and mueller didn't write it or understand the full contents, that's problematic. maria: the issue now is who did write it. andreandrew weissman was his nur two and he was a clinton friend, a clinton donor, he wat was at r party when she expected to win. dagen: isn't it time to jetson the mueller team and move on. you have john durham at the justice department, you have michael horowitz, the inspector general and lindsey graham looking into all this. we can get to the bottom of it. we can get answers to assure the american people that our surveillance laws will not be
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abused for political purposes. andy mccarthy said this. maria: if there's accountability we can be sure. if there's no accountability, i don't think anybody is going to trust the fbi. dagen: the accountability is on the shoulders of bill barr and those within justice, thankfully. >> yeah, so, look, the way i come down on this coming into a re-election cycle, i think the president's record of accomplishment should be the focus, whate what he has done, s stances on foreign policy, keeping promises he made as a candidate. if the democrats keep beating the dead horse over and over again, i think we need to continue to point out the flaws in their argument which i go back to if this was the best they got, with this hearing, then it's not going to be that tough to do. we can't allow them to take these pot shots at the president or the team without countering with those things. so i would much rather have a conversation about policy accomplishments but if the
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democrats are going to put all their eggs in this basket which it looks like they are -- they can't talk about accomplishments or an agenda. look at what they've done with their majority, investigation after investigation after investigation that have been fruitless. maria: each as the real crimes are not looked at. so that's the point. i don't think you can gloss over the fact that for three years we have had the media with their heads on fire talking about collusion between trump and the russians. and the media with their heads on fire talking about everything that he did, when in fact he was set up. this is obviously clear now to everybody. and for the last two years we've been talking about these questionable things that a group of people have done, peter strzok and andrew mccabe, if we don't see accountability, i'm talking prosecutions, i don't know that anybody is going to feel like you can trust that you're not going to have the terrorism tools, things like informants, honey pots, wiretapping, all these things that were used on donald trump that are supposed to be used on
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terrorists. >> well, i think that one of the things the president has said over and over again that people have to remember is that he's the president. he's got tremendous resources. he's wealthy. he can defend himself and you've seen the president is not shy about making his voice heard. what happens when something like this happens to the average joe that p doesn't have the resources or the echo chamber that the president does. that's what i think should send a chill through everyone's back that's not the president of the united states or not rich and powerful is that when the government has the opportunity to come after you -- maria: this is not right that somebody can get wiretapped for no reason just because he was on the trump campaign so they could get a window into his campaign so that one candidate could get an edge over another. that's exactly what happened. dagen: wiretapped with opposition research from the opposing candidate that could have been russia disinformation bowhich bob mueller and his team
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didn't look at. i think the american people are smart and they're waking up to the hoax, yes to use one of the president's words because that's why you see his approval ratings going up and they're finally focused on the economy and the strong numbers on economic approval. maria: meanwhile, the democrats are in a tizzy fighting with one another. look at this nancy pelosi versus the squad story. the house speaker set to meet with alexandria ocasio-cortez in less than an hour. attempting to mend fences apparently. pelosi says she's looking forward to today's face-to-face. what do you think comes out of that meeting? >> if that's what she's looking forward to, i hate to see the rest of her schedule. because that doesn't say much for her day. i think it's kind of to be manhunt embarrassing that -- to blunt embarrassing that these multiple freshmen members of congress are wagging the dog of the democratic party. nancy pelosi has been in congress for more than 30 years, regardless of my differences with her politically, she's a brilliant political tack tigs pd
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they're reacting to this 29-year-old freshman, this is embarrassing for the democratic party. it's scary the direction they're going in. here's the dirty secret. they're about to go into a 42-day recess. i think pelosi is trying to make everything look pretty before they head out of town. this is a challenge. so she can make everything look nice, hopefully buy enough time so they get out of town and she says we can't do impeachment because we're on break. this is somewhat of a really, really -- when people think about this, you've got this crazy left win, freshman member of congress with no business experience, sitting back, dick dictating the terms which the entire democratic party is taking their cues. maria: as nancy pelosi says, it's just four votes. it's good to see you. thanks so much.
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>> you bet, guys. maria: all eyes on youtube this morning, new research shows which videos are use rer users e favorite. and steve bomber having a ball announcing his new players. back in a moment. this is the couple who wanted to get away who used expedia to book the vacation rental which led to the discovery that sometimes a little down time can lift you right up. expedia. everything you need to go.
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it started with the markets, bringing together steel and buildings and silicon and medicine and rockets. we believe the possibilities of life and investing are greater when we come together. it's why for eighty years we've connected ideas with technology, data with inspiration, investors with solutions. so that every day together, it all starts again. ♪ maria: welcome back. more than a dozen u.s. marines were arrested in an alleged human smuggling ring. lauren simonetti with headlines now. lauren: 16 marines in california arrested for allegedly helping to smuggle
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migrants into the country. the military says they're also accused of drug related offenses. this coming just two weeks after two marines why arrested of on suspicion of transporting three people across the southern border for money. videos featuring children and games are the most popular on youtube. that 0:cordin accord to the pewh center. 2% of posted videos feature children under 13, on average those videos have nearly three times as many viewers compared to other content. youtube came under fire for not doing more to protect children's privacy. youtube is a unit of google's parent company alphabet and those shares are up almost 9%. something to get excited about, steve ballmer, the los angeles clippers unveiling plans for their state of the art billion dollar facility, their new arena set to open for the 2024nba season and he's not holding
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back. this was him on wednesday during the introductions of the two new clippers players, kawiy len in order and paul george. watch. >> come on, come on! come on! get up! [ cheering and applause ] >> come on, get up! if you're as excited as i am, get up. lauren: he got them a standing ovation, good reason for him to be pumped too. his team is one of the favorites to win the nba title next year. get up! get up! >> maria: i like it. lot of energy. >> lot of energy. the man got the best player in basketball to come to the clippers and he has another one of the top five, six players in the nba. god bless him. maria: good for him. quick break and then -- lauren, thank you so much. we'll see a little later. football season fast approaching, we have a look at how one company is helping players prevent injury, stay on
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the field. we've got to get jack's comments on that. back in a minute. ♪ i won't back down. ♪ hey, baby. ♪ they're ain't no easy way out. ♪.t hey -- ay so. ♪ -i'm sorry? -what teach here isn't telling you is that snapshot rewards safe drivers with discounts on car insurance. -what? ♪ -or maybe he didn't know. ♪ [ chuckles ] i'm done with this class. -you're not even enrolled in this class. -i know. i'm supposed to be in ceramics. do you know -- -room 303. -oh. thank you. -yeah. -good luck, everybody. -oh. thank you. -yeah. can't see what it is yet.re? what is that? that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic.
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maria: welcome back. so we are in the middle of baseball season. football is right around the corner. many nfl teams starting training camp this week. with any sport there's always a risk of injury. with focus on preventative care, sparta science is using ai technology. joining us now is the ceo and founder, dr. phil wagner l. thank you for joining us. >> thank you for having me. maria: tell us how you're doing that at sparta. >> one of the things that's changed with machine learning and software, we're able to gather movement patterns from
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different at leads and start pulling them -- athletes and start pulling them all together and able to pair that movement pattern with specific injuries so we can help reduce the outcomes. maria: that's interesting. jack, you probably would have liked that if that were available when you were there on the field. >> definitely. i've had 10 surgeries. i had five surgeries on my knees. i need a knee replacement right now. i'm trying to put that off until i get into my 50s. give me some examples of how this is used for professional athletes in regards to preventative care and also going back to the former athletes who have ailing conditions. >> that's really p kind of our entire mission is to help everyone move better, whether you're an athlete or you're a former athlete. and really how it works is we've been able to pair up and match these machine learning patterns with these specific injuries to the point where we're making discoveries we never thought were possible. an example is by jum jumping ona
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force plate which senses how you move, basically a bathroom scale, that forced production from a jump we can predict an elbow injury. it's a great example of machine learning that we never had access to before. >> are the teams incorporating some of these techniques within their training? are the facilities taking it on? are you into pro sports? have you gotten into college sports? do you see yourself in high school sports? i know it's a lot of questions. as you can tell, i'm pretty interested i on this topic. >> we're used in the nfl combine, as well as several professional teams in the nfl. but mostly colleges because there are more of them and they're the feeder system. our plan is to continue to work our way down to help the youth pop. dagen: in the combine with the nfl, would they use that to determine if somebody might be injury prone? >> yes, i can tell you -- he probably won't say it, but go ahead. [ laughter ] dagen: that's why a team physician does a physical
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assessment, when they're getting ready to draft somebody, right? >> that's why i didn't get drafted. dagen: really? >> no doubt. dagen: no way. >> seriously. >> the other side of that is we're not looking for broken bones, we're looking at how to help the at lead. what -- a athlete. what we're looking at it's changeable. you can make the changes to prevent the injury, rather than saying good luck. >> i would think you could go into -- this has to be a lucrative field to be in. professional golfers, tennis players, you're probably looking at multiple sports, right? >> a absolutely. the biggest loss of some of the assets and individuals is in the military. the marines alone lost 111 million last year because of injuries. the numbers are staggering, in terms of volume. maria: thank you so much. we'll be watching. mcdonald's will be reporting any moment now, all the numbers next hour, "mornings with
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maria." mcdonald's shares up one and two thirds percent going into the numbers. stay with us. ♪ shake, shake, shake, shake your body. ♪ shake, shake, senora, shake it all the time. ♪ ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade.
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by locking in a fixed low rate today. and you can get your money right. with sofi. check your rate in 2 minutes or less. get a no-fee personal loan up to $100k. maria: welcome back mcdonald's earnings out the numbers. >> maria as far as the earnings go, in line with expectations 2.05 a share, a slight beat on revenue company posting 5.341 billion slightly better than 5.33 billion that wall street was expecting, but really some i personally think from sales u.s. same store valleys stronger than expected most analysts looking for 5% growth object comp up 5.7% analysts have been optimistic about the way mcdonald's is using technology whether voice activated drive through ro
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bottlex in the meantime we can see stock higher premarket guru telling me equals 30 points add to dow. >> stock up looks good thank you so much deirdre bolton we have house passed two-year spending agreement despite republican objections, blake burman live with the latest now at the white house, good morning to you. reporter: good morning to you one very rare times president trump ended up coming down on same side, as nancy pelosi, and house democrats. the whose yesterday, passing this budget cap debt sealing with support 219 democrats, 132 republicans as opposed it, president trump urged republicans support the bill but republican decide committee house freedom caucus did not citing run away spending. >> it is one of those things, that i lobbied for, more conservative legislation, i
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lost. and yet at the same time, i obviously, respect the president's position in that. reporter: lifts debt ceiling two years raises spending 320 billion dollars above the cap that was set during the 2011 is he sequester the president touted increase in military spending defense department will have a budget totaling 738 billion dollars. he visits pentagon to celebrate new defense secretary yesterday, just before the vote. >> we're giving our war fighters the tools they need to fight and win with he with overwhelming force after years and years of budget cuts and all of the things that they've been doing. to set us back with our military. we have more than made up for all of it. reporter: heads to the republican controlled senate expected to pass there, eventually make its way to the president's desk but maria to
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give you an idea of how many house republicans loath the idea of this spending deal there was a separate measure to rename it the kick the can down the road act. and that i could positive up support of 47 republicans. >> that would not have been good that is. >> blake burman at the white house joining me o he former senior adviser to president he george w. bush fox news sht contributor karl rove that is what it should be called kick the can down the road? >> well it is i understand the budget control act placing pressure on discretionary spending increasing silly smaller share of the budget not really what is driving our deficit problem, the deficit problem is being driven by the mandatory spending programs, today i think nearly three-quarters of the budget, and a growing share of the budget. >> and the president seems to be -- suggesting, in certain
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conversations that if he were to get a second term, he will take an ax to some spending try to attack budget issues specifically the entitlement programs what do you think? >> well, in order to do that you [either are have a republican majority in the house and senate because you cannot count on the democrats going along with it they did, it sort of surprised me did keep in place some of the medicare spending restraint measures some things limit the future increases in medicare spending we call those cuts in washington but it means spending and rather than here tomorrow it is here tomorrow. but they did keep those in place i took as a minor good sign but 219 democrats in favor, 16 opposed 65 republicans supported it 132 opposed it a third of the republicans supported the president on this measure. >> for mueller testimony yesterday president sponge out
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about former special counsel and this mueller investigation after the testimony here is what he said last night. >> so they create this phony crime and then they say obstructed said no collusion but he obstructed there has never been anything like they ever before in our country. this crime was a the crime was committed on the other side. and we will find out about that, we have a great attorney general who is looking at it i am not involved in that he is looking at it, and, you know, i have been hearing a lot of -- the media actually talking about investigate the getors more i see it i feel it i think a lot of good is going to come out of it. maria: how did you see the testimony thursday? >> well i wrote about it in my thursday column wednesday testimony i slightly disagree with the president, they did not say he obstructed the report if you read it says
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while they don't exonerate him they did not conclude -- committed obstruction so you know why -- i think congressman ratcliffe of texas a former u.s. attorney was right why -- why do you think you have to exonerate somebody if you concluded you are not going to charge him mueller made it clear bol orange countiesed in front of the judiciary committee made it clear in opening estimate to intelligence committee they reached that conclusion, that they could not charge him, not simply because of the olc opinion office of legg council opinion says you can't indict a sitting president but left issue decided by barr tabbed rod rosenstein concluded not sufficient grounds, look, president was angry he was upset. but all these things you know go five mueller nobody did it given the absence of underlying -- in violation name intersperse -- namely
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conspiracy all president has to say i was angry approve corrupt intent i was angry being unfairly accused of something i didn't do, look, it is if democrats want to pursue this i think a number do we are to 98 democrats want impeachment proceedings in fact house. maria: unbelievable do we want to get into this president obama said in hillary clinton investigation, well, i don't think she did anything wrong, was he trying have to obstruct justice? >> former president bill clinton con for how long thes lori loughlin at that famous infamous meeting on tarmac at phoenix airport was he trying to obstruct justice do we want to go down this path i don't i don't think so. >> what about cabal at top of fbi trying to stop donald trump was that obstruction or hill headline using hammer bleachbit to get rid of devices? was that obstruction? >> yeah. >> what about paying for the o dossier was that collusion. >> exactly. >> some of those things we are going to continue to look at
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the inspector general going to be looking at things that happened in 2016, and early 2017, by comey, strzok page others to see if they rightlied rules with regarding use of fisa application, and the fisa router to wire cap listen on people associated with trump campaign we are i don't think that the ig report is going october pleasant reading for all the people that are involved in the investigation of president trump's campaign in 2016 i think -- >> even worse. >> find a lot of rules bent and broken. >> that is right even worse ogoing to be john durham investigation where he -- >> absolutely. maria: looking right there, and exactly what they did, dropping 10,000 dollars in george papadopoulos lap wiretapping people in trump campaign was incredible, seems to be a different tone in the media now given the -- given the -- the focus on the investigate the he is very gators, there is kim strassel
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piece in the journal what mueller was trying to hide writes this mr. mueller and his team are clearly playing their own important role in hiding the truth, the mueller testimony only highlights how important it is that attorney general william barr is finally pursuing accountability. >> what do you think was going on the fact that mueller yesterday, i mean the other day two days ago didn't know who fusion gps is? really? >> pretty -- >> all the stuff about the origins of the investigation was it in purview how not in purview when russians gave that dirt on -- on donald trump, wrote that for fusion gps glenn simpson how not in your purview? >> well he has a very constrained view what he was to cover look i am not getting into an argument over whether or not that is accurate because you are right, we have inspector general looking at it and we have durham looking at it i think going to do about incrediblely efficient job durham but dog completely
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apolitical u.s. attorney under president george w. bush in connecticut appointed specifically we wander somebody to take on problem for local correction in about connecticut he ended upbringing down republican governor and sending him to skrail, so this guy is fearless he is going to do right thing you are right, this is what bothers me, yes, we ought to be concerned about russians trying to be involved in our election and influence the outcome, we don't want that, but why are we not concerned about the dnc hiring sursir tippiously, the agent because moscow says if kgb do you have dirt on donald trump that was open invasion to the russians to get involved how much was disinformation, and we're not paying attention to that, and but you know what. >> we have not been going to be paid attention to i bet you dime to dollar by ig and
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durham. >> i have a talked about this three years and i am feeling really happy that in fact, they are actually focused on this because it is not about donald trump it is about -- why are -- innocent people if they can do that to those people imagine average guy gallon has no resources to fight back got to get your take before we go ahead karl quick. >> one quick thing i also the hypocrisof the democrats on both committees saying how dare russians be involved trying to influence our elections showing no concerns whatsoever for their combine, clinton campaign outreach to the russians to say we are giving open invitation to participate in election give us dirt. >> talk about russia med looirng how be peter strzok meddling the fight freshman congressman omar wrote recent "new york times" opened said we are essentially in fight for soul of our nation writes in part this it is not enough to condemn the corruption and self dealing of this administration, we must
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support policies that unmistakebly improve working people lost lives including strengthening collective bar gaining, the people we need to be afraid of she said are white men. >> well, look, there is a group of the fringe players but they are playing a -- a they have an outsized role on modern democratic party because of access to social media, and interest of mainstream media covering them they are lunatics, with all due respect, and, this woman is one of them, today we have a meeting, between alleged -- alexandria ocasio-cortez and nancy pelosi not guilty good is coming out of this there will be a nice sort of tv moment afterwards, but there is a fight inside the democratic party. this week, it is emerged same group the squad other allies are critical of the democratic
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congressional campaign committee chairman sheer. dagen: of illinois not enough woman of color, and diversity in the leadership of the democratic congressional campaign committee, and there is open war going on over her control of that committee you have outsiders she is in charge of the committee held responsible for success or failure but you have people saying we want to dictate who you hire, and who is in charge of your efforts, again, it is the same it is the squad and their allies, and this is going to continue not helpful for the democrats very helpful for republicans i joked the other night on television with hannity i reached deeply found no evidence whatsoever for rumor the squad was creation of republicans conservatives in effort to cripple democratic party they are doing a marvelous job creating mayhem inside the democratic party. >> they are it is amazing the impact that donald trump has had on all these people, you know the trump syndrome whether congress or hollywood
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it is -- it is incredible. >> karl this you. >> he tends to get them worked up doesn't he -- >> sure does good to see you have a good day stir awaiting gdp second quarter results elon musk space race we're on it celebrating two successful launches that is next. nice. but, uh... what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ dto experiencer gthe luxury you desire on a full line of utility vehicles. at the lexus golden opportunity sales event. lease the 2019 rx 350 for $389 a month, for 36 months, and we'll make your first month's payment. experience amazing.
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this morning lauren simonetti with details now in headlines. >> twitter reporting last hour, jumping on revenue beat and number monetizeble users above expectations up 5%, take a look at amazon alphabet ahead of open amazon record quarterly profits did come to end the company have it by higher shipping costs the stock is down 1 1/4%, google soaring google apparent company alphabet better-than-expected results revenue rose 20 paris from a year ago.
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>> europe melting record heat 108 degrees in par i guess parts of germany, 105 degrees belgium, 100 southern england blistering temperatures prompting people to jump into water foundains in paris with clothes on extreme heat threatening notre dame, survived massive fire as you know months ago architect says high temperatures could weaken damaged ceilings more potentially causing its collapse spacex has plenty to cheer about yesterday, first it had another successful supply launch international space station, the dragon spacecraft in orbit scheduled to dock tomorrow, spacex also recovered the falcon 9 first stage rocket can be reused to save money, and company says next generation spacecraft star hopper to look at that video, elon musk tweeting about prototype stayed in air 20 seconds company aiming to
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build completely reabout usable spacecraft for cargo and people eventually to go to mars. >> wow, cool. >> i know. >> thank you so much -- on the engine. >> coming up a new round of protests hitting hong kong this time the air popularity hundreds staimdz a up staging a sit in the numbers and analyze right after this. >> ♪ ♪
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can't see what it is yet.re? what is that? that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this but give them a cookie and a star.
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opening wall street take a look dow futures up 75 points s&p up 6 3/4 nasdaq up 20 we are getting first look, at growth for the second quarter gdp out in about 8 minutes or so the estimate is growth, of 1.8% joining us right now ceo
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of thorn berg jason brady with mkt 44 billion dollars,good to have you this morning. >> excited. >> thanks for joining us backdrop tell us how you very he have what you see, as the growth catalyst for markets. >> 44 billion as you said based on in santa fe, nex mexico far from wall street far from a here, we spend time looking for good outcomes for clients largest portfolio, and really navigateing markets particularly challenging today, to given how stocks and bonds interact very different environment. >> characterize the backdrop for us sure what we've seen market driven by interest rates, and so what we are going to see from global from usgdp today important with rather to future path ray of rates, stocks. dagen: where in the world can you find income, on -- income, where you are not taking an incredible amount of risk.
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>> sure, so actually one of the biggest populations for us, is dividend paying stocks what you've seen is a lot of expenses defensive names. >> financials much more interesting, i think that is the place to look as opposed to what you see in the interest rate environment really suppressed significantly. >> i want to get back to the point you made interesting i think it is a kind of a fed run market how much rate cuts do you anticipate what are you going to do if those anticipations do not come to fruition. >> i don't want to live in normative world i think fed should not be cutting they are kurth but shouldn't be that said i don't get to live in that world, i think the fed will cut, of course, coming up and probably one more time. >> okay. >> what concerns me is the fed talking about data dependent that is k true and reasonable
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but shorten the time horizon so much feels like we are waiting for -- a cut -- >> noncut to noncut. >> exactly so really to be health, health market you have to think where are earnings seeing earnings come in a little bit lower than we expected earlier this jooer. >> better than lowered expectations. >> better than lowered expectations at least in some cases the question for me i like to see that progress well i am a a little bit concerned about that, some large-cap names are doing well, kind of median, s&p 500 example less good outcome but supported by rates what happens couple cuts if we don't get that, ironically right now good news is actually kind of bad news. >> right. >> very difficult market to he navigate. >> we want to get more on this because earnings are in full swing want to ask you about earnings let's take a break because when we come back the gdp out i also want to know what is the best yielding stock in your income fund, stay with us we will get that from jason brady gdp out after
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maria: welcome back waiting on breaking news get first read on second quarter growth in a moment a minute 1/2 expectation calls for growth 1.8%, for the gdp, this is a final big read before next week's federal reserve meeting, and we will have number what it could mean, to the chances of a rate cut next week in about an minute futures are trading up ahead of this number, futures up 62 s&p up 35 and 3/4 nasdaq up 18 3/4 have watching earnings twitter mcdonald's rising on results this morning we are -- alphabet amazon, last night alphabet better than expected numbers stock up strong this morning, jason what is your take on earnings, season so far jason brady with us this morning ceo of thornburg. >> what we're seeing a playout of xksz in the marketplace this morning we saw amazon alphabet, alphabet pretty low, and so any kind of reasonable
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number there has been well received vice versa for amazon. >> you like stocks. >> in global income fund don't own them names don't provide a lot of income across the firm yes, we do. >> so you like that. >> tech is driving the market hard not to like tech really sort of changed business models. >> we want to 2.1% gdp number much better than expected .1% growth second quarter this is the first read this is the strong number given the fact that we were expecting 1.8%, 2.1% growth, markets have come off their highs jason, as we watch this number, it is pretty much steady but a little lower you wonder if markets good news is going to be bad news once again. >> exactly exactly -- >> let's get deirdre bolton the more news on gdp out better than expected. >> better than expected i think makes this examining the conversations for the fed next week probably makes deliberations if any a little
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bit tougher, 2.1% stronger than expected, and stronger than 1.8% i think some people said oh fed really is in conundrum as far as points we saw ecb did not move so that is going to affect calculation as you pointed out we are seeing a little bit of a reaction here in u.s. equity futures i was checking on bonds prices as well honestly more or less where they were before that print so he stronger than expected, future showing pretty much what they were beforehand a 25 base pointed cut next week. >> reaction, from the panel here, first jason you think a quarter point cut in view of this number. >> get a quarter point cut basically no matter what unless sky falls or -- because they signaled would it wiroil market it didn't. >> a powell does not want to change directions going to look fooishl if he will
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couldn't read tea leaves .1 versus 1.8 i wonder did doctoredra have number on revisions that is important. >> getting those showing up on screen joining the conversation right now the is wells fargo securities managing director sr., economist mark vitner former wall street editorial board member trumpnomics coauthor your reaction, on this number, how you see the economy right now. >> well, look, i am relieved over 2% number but 2.1% is not what we want i mean, you know i helped put that economic plan together for trump we want 3 to 3 and one half to four we are below where we should be the question why are we if you look at first half you know the first six weeks or so of the second quarter we were looking at 1 1/2% growth a bit of momentum in this number i think things looking a bloert than a couple months
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ago for the economy, consumer spending has been good i think that is reflected in part by the by the stock market people are feeling, the wealth effect we can do better than 2% should aim 3, to 3 1/2% i would say i think the fe tightness i have been on this a long time, the fed being too tight i think knocked about half percent of off, and trade, the trade war with china really you know had a negative effect i think that is a negative that is also about a half per cent so without the fed being too tight and if we can resolve this trade war i think we are back 3% growth. >> steven you think the fed cuts next week quarter point? or a more. >> yeah, i do i think should cut 50, look we have -- we you know this maria report on this all the time fed continues to be below inflation target when you've got 2% interest rates when you've got in cases inverted yield curves a sign investors are worried about if anything deflation not
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inflation i want to make very clear, most of the conventional analysis of this is wrong, it is not the fed should cut rates or raise rates based on what growth rate is they should be looking at prices, you look at commodity prices down, 8% since last year if you go back to summer of 2018, we have 3 1/2 to 4% growth we had no inflation, we had low interest rates beautiful picture, and fed made two big mistakes, one in september, one december and raising rates when they didn't have to should not have we paid for that. >> another reason to cut rates next week dagen that is because the rest of the world itself cutting rates stimulating, the dollar is getting impacted by all that. dagen: right staph moore milan president -- trump -- understand very well the president on twitter doesn't really stark articulate like th worried about strength in dollar currency war the rest of the world is cutting rates is -- pumping stimulus from monetary perspective, into their economy, and the burden that would put on the united
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states. he wants to -- and again that is what the federal reserve is also looking at, steve. >> yep. yeah, no i think you are -- you are exactly right, but, by the way, look all the other kurns play off dollar what matters is it doesn't even matter that much can when ecb does so on dollar is world kirnz all other -- by the way, our tight in especiallil tightness negative affected the economies of other countries we got at least two quarter point maria i would like to see 50 base points i don't think that is going to happen at least, next week. dagen: looking at this business investment declined second quarter for the first time, since 2016, nonresidential fixed investment this is software research, and development, equipment, structures it fell. at 6/10 of a per cent rate compared with increase 4.3% first quarter consumer spending rose rate 4.3%. >> i think a big factor there
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is the china trade situation, i talked to lot of ceos say they cut back, maria, on their capital spending because of the uneasy about the trade jirts. >> jitters -- >> spending monday on cars, every day goods food and clothing, so they did pick up the slack in terms of business investment declining mark your reaction business reinvestment down but consumer spending up, overly number as you know 2.1%. >> yeah, it is a protected number that we were expecting right around there, we had a big drag from inventories a buildup in inventories earlier in the year that -- 9/10 percent off number trade shaved 7/10 off the number so you reverse those two, and really we're doing okay. you know neighboring why market sold off saying if doing orange county maybe fed doesn't need to cut rates, when the fed is thinking what they need to do policy wise, they are looking where the
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economy is headed not so much when it has been monetary policy works with long variable lag like wayne gre gretzky went where he thought puck was going not where muck was essentially he what fed is going to do go ahead and cut. >> you asked about revisions the first quarter, not revised still saying 3.1% for the first quarter, jason does this change the way you invest in -- given this look at the economy today does this -- dictate how you allocate money. >> look we are long for investor time horizon seven years out every time you get a new piece of information, we with may be act like fed does or should to say maybe we understand things being a with a long variable lag you are looking ahead where puck is going, when i see this number, growth is okay. in united states not great but okay, certainly better than global as i mentioned, prices are come up a little bit right
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1.-- in, he could up 2 on overall,close to 2% target so -- i am not worried about flakes per se, but certainly we have here is very low interest rates and very low real interest rates causing some interesting effects on global economy. >> what about the business investment declining? that you know we talked earlier, before you were here about that being kind of a warning sign how do you view that? >> i agree. what is interesting is are we really getting more growth through credit expansion? if fed is cutting rates, i presume trying to put stimulus in the economy obviously, we have so much credit availability for businesses and consumers it seems difficult to stimulate the economy more with lower rates, if you want to borrow money today you can borrow money. >> exactly. >> it is -- >> a quarter point lower is really not making a whole lot of difference. >> right. >> dagen can i -- >> the reason i am for reduction in rates, is not
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because you know i want interest rates to fall, it is because that economy needs more dollar liquidity that is really held back, the growth rate, and you know, if you look at so many of these, indicators of where inflation is headed look at tip spread it is indicating inflation 1 1/2% below where fed should be, and suggests that that just isn't -- look, the fact is we cut taxes cut regulations we shifted out the supply curve of the economy and now that means when you get an increase in goods and services prices fall they don't rise, the fed maria i have said many times on your show the fed has wrong model in its headed -- like are getting causes inflation you get more growth, reduces inflation throw out that phillips curve model and just -- focus on commodity prices tip spread those things they are not showing in my opinion any sign of inflation what assessor. >> what about this -- >> gigantic hideous spending bill that just passed.
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>> boy, you know, i hate it. i just hate it you are right dagen i mean it indefensible i don't know short term if that is going to affect things shows no fiscal responsibility on either side of the aisle unfortunately right now in washington. dagen: enjoy being able to borrow at 2% a year over 10 years -- >> might not last forever. >> right but right now that is the case amazing that rates continuing to lower, where rates are even while economy seems okay mark how do you explain that? you know, the world is just awash in excessive capacity excessive clithd an aging population in developed economies a lot of money going into pension funds they have to invest in government bonds. and so that is that is really working to our advantage right now, and, you know, it is -- as much as the fed has been a little bit behind curve made some mistakes, policy is so far ahead of what we're seeing in rest of the world that is.
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>> true. >> so much money coming into our economy pushing rates down. >> true, yep. >> jason? >> i think that is exactly right, the context of where are you going to put money, we are talking earlier about how do you find income certainly a fixed income he generally high quality fixed income doesn't offer much return at all really changing asset location think about old days of 60/40 portfolio different directions, today if you have got good news bad news, bad news good nice thing talking about earlier rates rising bonds falling hurting equity prices. >> 40% of your portfolio really hurting right. >> really difficult. united states, anywhere else -- >> exactly. >> you got much of the world you have to pay the bank for the privilege or pay government for the privilege of borrowing money. it is upside down world. maria: are um-hmm. >> other piece in the "the wall street journal" today thank you for mentioning it, about you mother what we how well we should do right now
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with policy and because we've low interest rates, now, now is the perfect time to shift our social security system allow young workers to put their money into the -- rather than one percent return on social security, if you want to reduce income and equality wealth inequality in the country single best thing allow every worker to put 10% paycheck into i.r.a. type of index fun rather than in social security, and boy, you know you would have virtually every american retire as pension millionaire, and, by the way, you can finance that now with 2% interest rates a great deal for everybody. maria: yeah. >> what do you think. >> very smart -- op-ed. >> first -- >> thanks for throwing shade -- [laughter] -- >> advertise i was going to do it myself. maria: we're going to mention it i am happy you did, thank you. >>. dagen: to that point though, because maria talked about this very even again this involve touching social
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security for lack of a better verb is this something president trump could potentially get onboard with? >> now or even after next election? >> maybe after next election he said in last you know go around that he wouldn't touch social security medicaraway i think that helped get elected you are right, this is this is kind of a third rail of american points you touch it get burned i think the american people are you know especially young people because they realize social security is not there for them, running out of money. maria: great to have you guys thank you so much mark steven jason before you go you have an important fund that is a dividend paying fund what is the highest dividend payer in your fund. >> it is not exactly about just getting highest dividend but biggest deals for example as you mentioned germany shell interesting folks -- >> 35%. >> about 6. >> 6% that is nice. >> look at stocks maybe more than high quality fixed income it does introduce volatility.
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>> when you have rock bottom line rates you got to find yields somewhere. dagen: that is what happens with elder people during last crisis, people were in bank stocks, they. maria: wanted dividends stay with us right back protestors hitting hong kong again that is next. .
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>> welcome back new wave of protesters at hong kong airport lauren simonetti with details here. >> maria at least protesters
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dressed in black chanting free hong kong, demonstrating at airports arrival hall latest moves by iept government forces to call attention to pro democracy movement, denounce extradition bill on hold jimmy lai founder majority shareholders discussed what is at stake being with you on "sunday morning futures." >> you have said if this bill goes through, it is the end of hong kong, explain. >> well if you this bill goes through, they can extract -- you know they can anybody to jail in china, and that is also the a hong kong without rule of law our financial center status undermined also because -- without rule of law no mutual trust so you know, financial market. >> whole value system is
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undermined. >> hong kong people act violent at this time for strong at this time to threaten of freedom because they grew up in the western value. you know like you saw. >> airport dmajs amid fears protesters could turn violent. >> pizza hut is testing a new pizza pickup without any human interaction, company putting a dilling cubby system, as you can see, there in place, location in hollywood california, so consumers ordered pizza pick up from assigned cubby without the talking to anybody pizza said thissism is designed for people pressed for time. >> so i guess you limit the conversation. >> save the date possibly for new halloween there is a push to switch this year's candy extravaganza from octobering 31 to a lot of saturday, october a petition started last year by halloween costume association nearing goal of
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75,000 signatures, group says moving trick-or-treating to a saturday would be safer for children and adults and i am totally onboard guys i think a great idea, saturday more people can participate. >> that is true. >> thanks, all right -- saving halloween -- >> what do you think? >> [laughter] >> coming up intel raising revenue guidance apple buys company's business we've got details when when we come right back. stay with us. ♪ ♪ -their béarnaise sauce here is the best in town.
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morning. >> good morning, maria. you are right soaring a double beat from earnings earnings per share higher than expected 1.06 revenue even though declined second quarter also beat you had a lot of analysts rbc capital markets raising targets after earnings came out o more news apple announcing buying majority of its modem business a billion bucs helped rally strong starbucks earnings a double beat, earnings per share 78 cents revenues also higher what was a key for this company is a global same-store sales, climbed much higher than accepted 6% strength in china i want to end on this, one that we also talk about very hot right now beyond meat, they announced a new product and that is a fake sausage or alternative sausage property market expect a surpassed campbell sooip did
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you believe it beyond meat launched sausage breakfast patty dunkin' donuts i tried one, what are they thinking of next about. maria: how was it? >> i thought it was delicious. >> okay. >> a i don't eat meat i thought really good. >> thank you, kristina partsinevelos we will get final thoughts from this all-star panel when we come right back. stay with us. markets are up. back in a minute. ♪ ♪ worked hard for her money she works hard for her money you better treat her right ♪ ♪ we all feel, we all love, we all cry. it's part of being human. sonoma county declared a homeless emergency in 2018. you have to know the individuals you're serving to understand their needs. working with ibm watson we can bring together data
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♪ can i get some help. watch his head. ♪ i'm so happy. ♪ whatever they went through, they went through together. welcome guys. life well planned. see what a raymond james financial advisor can do for you. ♪ maria: welcome back. busy show. final thoughts from this all-star panel. jack? >> yeah. i kicked off my weekend going in the community, i'm going to challenge all democrats right now, look at the communities in which you all are serving, look at our urban areas in which you all are the face, you're the
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mayo mayors, the city council. those are the ones that are struggling. your policies aren't working. work on them. >> kind of odd, i laughed when lauren talked about the pizza hut no human interaction. isn't that what all social media has evolved to nowadays? i'm wondering then maybe the future is brighter than i thought for things like twitter and facebook which involve no human interaction. maria: yeah. >> i think once you weed out on twitter, once you basically silence them, you don't have to block them, don't listen to them, you can have your spirits lifted by interaction. people who are living alone -- >> without actually talking to someone. >> well, there's a young man, a young man who is competing in the special olympics, shout out to him, he's a positive influence. a young man with cerebral palsy
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who wants to be a model, he's a huge influence. i find these people, seek them out on social media. that's my word of the day. maria: big story was the gdp, better than expected. 2.1% growth. lot of catalysts on the horizon. fed meeting next week. have a great weekend, everybody. thanks to the great panel. "varney & company" begins right now. charles payne in for stuart. take it away. charles: good morning, everyone. charles payne here. stuart will be back on monday. we got a ton of big stories for you. maria just mentioned, the economy grew at 2.1% the second quarter. wait until you find out how much consumers drove that. now you can see it's driving the markets as well. we are near the highs of the morning session. coming up, commerce secretary wilbur ross first on fox business on that gdp number, and of course, the latest with our china trade negotiations. check alphabet. google still the dominant force in online ads. that stock looks like it will really take off today despite a federal antitrust probe that's hanging over its head. amazon made

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