Transcripts For FBC Mornings With Maria Bartiromo 20240714

Along with the forbes media chairman. Its great to see everybody this morning. We have the Federal Reserve. With the pmi coming out. Thats where we first saw the weakness in the economy. The thing to watch for is hong kong. If you get a bad situation in hong kong its can affect the trade negotiations and a lot of other things as well. He was so adamant in terms of this extradition. The demonstrators also realize that beijing has been engaged in stepbystep. This is it for them. Thats where the protesters are. They see the future threatened by all of this. And they dont have a place to go. This is it for them. A does he really feel threatened by this affront to beijings power. The trade talks where theyre going to be be somewhat influenced by that. He thinks it is completely unlike 2015 this is a really serious Pressure Point for beijing administration i think thats pretty serious. To your point its a different crowd coming out. He feels it feels very different in terms of the crowd and the way they are behaving and et cetera. Its a very dangerous proposition to be on the frontlines of this protest. We have a lot to talk about including that the this morning. Clete williams is with us this morning. The u. S. Immigration Detention Center was here. The special counsel the conference chair and member of the Senate Foreign relations. Along with the former assistant secretary. Dont miss a moment of it. At hacker are still personal information addresses in things on more than 100 million customers at one of the largest banks. The police in seattle said Paige Thompson is a Software Engineer who use to work for amazon. We know from the history now there is a penalty for this i think these breaches become regular events with these companies they have got to get smarter and tougher in every Single Company is america is under their gun to protect the data. How could one can one person do this effectively. This is an american citizen. One person decided they want to get all of the information. I remember when snowden took some of our greatest secrets and spread them abroad. This one seems like it will be difficult to blame unjust internal problems when they had one of their own former engineers who is involved in this hack. I Single Person able to take all of this data. All eyes on the federal register. We have day one of a twoday meeting beginning today. The rate cut tomorrow would be the first one in nearly a decade. The fed is floundering. They are to go for rate increases this year. A total reversal in december or january. We will get rate cut. What do they do afterwards. And they should not even be in the business of doing Interest Rates and manipulation in the first place. The idea. I love the opt out in the journal this morning. This is my favorite line. On the ability to speemac mike on the Available Evidence they are making the prophecy. They dont know what theyre doing. The president goes after them and then they say data change. Its not confidence building. They actually have an impact on the economy. Slow things down. I think the mistake was last year not this year. Present trumpet was talking about that. The situation overseas should have been taken into account and i think thats what theyre doing now. The truth is in europe they cant get out of their own way. The growth rate has stagnated again. This gets us something very important and thats in europe in a little bit in this country the structural problems that hed growth. In this country the overhang on trade. The Federal Reserve has to keep step with some of the central essential banks around the world. That is a consensus from Money Managers out there. The rest of the world is impacting our dollar. Let the markets set the rates. They do in the treasury market. 2020 democratic hopefuls. Ready to take the stage in detroit. The big names to watch. Chris, what can we looking for on that stage. Im not expecting too many fireworks. One of the big things that we will see for the last time tonight most likely in any debate. This is the last debate where you can have the under 2 . I dont think that many of them will make the big splash. Maybe has moment to try to overcome. He seemed better in New Hampshire and iowa. He still has to try to push himself apart from both sanders and moran. Will see what kimmel Kamala Harris has to say. It is good to be in interesting movement. Those are two of the big names that are on the stage right now because harris is sailing. We will see what any of this if it moves markets in the next couple of days. It is expected that the earnings will be 2. 10 per share. Your expectations here. The fact is they are depending on dividends and stock buyback. What is the big thing for the future. Given this china fight. Theyre their neck and a get any exemption in terms of tariffs. No exemptions and you know this next part of 325 billion they will see a major impact. We are all get to feel that. We will talk about all of that. The trade is in focus negotiations. What is at stake for u. S. Companies. So concerned about tariffs coming up. Beyond meet sales are struggling this morning. Keep it down there. I have a system. Keith used to be great to roadtrip with. But since he bought his house. Are you going 45 . Uh, yes. 55 is a suggestion. Its kind of like driving with his dad. What a sign, huh . Terry, can you take a selfie of me . Take a selfie of you . Yeah. Can you make it look like im holding it . He did show us how to bundle home and auto at progressive. Com and save a bunch of money. Oh, a plaque. He later navigated northward, leaving. Progressive cant protect you from becoming your parents. But we can protect your home and auto when you bundle with us. While managing your type 2 diabetes why think about your heart . Because with my type 2 diabetes, im more likely to have a fatal heart attack or stroke. Lower a1c helps, but type 2 diabetes still increases my risk of a fatal cardiovascular event. Because type 2 diabetes is more than a1c. Wowthese are great answers and thats why theres jardiance the first type 2 diabetes pill that offers a lifesaving cardiovascular benefit for adults who also have known Heart Disease. Because jardiance can reduce my risk of dying from a cardiovascular event. And it lowers my a1c, with diet and exercise. Andits the 1 prescribed pill in its class. Jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening bacterial infection in the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. So, now what do you think . While my a1c is important, theres so much more to think about. Ask your doctor about jardiance today. Theres so much more to think about. We all feel, we all love, we all cry. Its part of being human. Sonoma county declared a homeless emergency in 2018. You have to know the individuals youre serving to understand their needs. Working with ibm watson we can bring together data spread across dozens of departments. That gives us a fuller view of the people we serve. Dear tech, dear tech, we need to look after everyone in our community. And we want to help our fellow human beings. Police are still looking for answers this morning days after the deadly shooting at the gilroy garlic festival. Investigators are searching the 19yearold gunman vehicles home. They have criticized the festival on social media before the shooting. It left three dead and 15 others wounded. The committee remembering the community remembering the victims with the vigil. Police were praised for their quick response. Officers shot and killed the gunman while in las vegas. Pressure is mounting from wall street. It is cutting one third of its marketing department. In their chief operating officer is leaving. His role as been is being spread out to other executive. Beyond meat shares sharply lower. This extends losses from yesterday. They want to sell an additional 3. 25 million chairs. 67. 3 Million Dollars it did beat the estimate so much excitement over the ipo earlier this year now the pressure is on to deliver. There is an impossible burger. Its becoming a very crowded field. Popular but crowded. China trade talks. We will type at a Hotel Package that is a dream for any dog lover. So. How are you feeling . On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Most people think a button is just a button. That a speaker is just a speaker. Or that the journey cant be the destination. Most people havent driven a lincoln. Discover the lincoln approach to craftsmanship at the lincoln summer invitation. Right now, get 0 apr on all 2019 lincoln vehicles plus no payments for up to 90 days. Only at your lincoln dealer. Plus no payments for up to 90 days. With tough food, your dentures may slip and fall. Fixodent ultramax hold gives you the strongest hold ever to lock your dentures. So now you can eat tough food without worry. Fixodent and forget it. Welcome back u. S. China trade in focus this week. The latest round of negotiations. Expectations are set to be low. Its good to have you on the program with us think things so much for being here. I think we will eventually get a deal but i think it will be a while. The expectations are low for this week and that makes sense the two sides have not talked for a while. What they really need to do is feel each other out. What worries me though about a deal is that if china is not going to go back to where we were in may. The u. S. Has a packed agenda. If china is back in a go back to where we need them to be. I think you will see u. S. Attention diverted elsewhere but i must come back to this and say we still get a deal because i think the politics for our right there is a lot of chatter out there. The president doesnt really need a deal because he can show he his tough going to the election. If he can get a deal that really moves the ball on that the structural issues. Will it move on the structural issues. The chinese walked away from things like putting into law that youre not allowed to cheat and steal ip from the west. Does china want a deal. Do they really want one. It doesnt look like it. They think that they can wait President Trump out. I hear that coming but i dont think it reflects reality. Lets talk about this for a second. You are seeing stories every day of companies starting to move their supply chains out of there. Thats something that china does not want to see happen. Give a major China Investment bank. They released a report that this trade dispute has cost china over 2 million jobs in the industrial sector. A couple weeks ago now. Reporting the lowest gdp number they had reported and 25 years. I know some of the books are cooked but the fact that they were going out there and saying this is as low as it has been in 25 years. I do think they are in a position where they do need a deal i do think once we get back to the table i think it will benefit both sides. Even if thats not the conventional wisdom. As china going with the alternative strategy as well. And tying those Companies Even more to beijing and cutting us out . That is absolutely part of their strategy there is a whole series of negotiations that are involved with the one that most people are familiar with. They are trying to lower tariffs with about 15 to 16 countries in the region. You will also see them pursuing that to show that they dont need a deal with the u. S. You talked about the slowdown in gdp growth in china some people think it is much worse than that. And you do read almost every day about Companies Going bankrupt in china. What is the lead of the actual Economic System there. The reason they are holding on is because they are pumping a lot of bad credit into the market. That cant last forever. Most of the real serious economist that i talk to say this is a little bit of a sugar high. This is certainly a temporary fix for them. Ill think they are quite yet in desperate straits but they will run out of those bullets. And then they will have a real problem. They will need a deal before that happens. House democrats have met four times currently to talk about the proposed agreements. They are making progress. But some House Democrats are aiming for a vote before the end of the year. Its up to nancy pelosi. There has never been an agreement more than the bipartisan support. They did a great job here of drafting an agreement that will create a lot of jobs in the u. S. It hits the key democratic priority. I have heard good vibes coming out of the talks with pelosi. Ultimately they will go to get there at the fall. They are never gonna give the president a win. We just had a deal last week on the budget these sites can Work Together when its in their mutual interests. This is can have big problems. You cant make a trade deal with your friends what about the other trade deals youre talking about. We want to talk 2020 and trade. They roll out the trade policy plan before endorsing any deal. She would require negotiations with labor and environment a environmental groups to trade committees. To analyze how the deal would affect the entire country. It is a classic far left trade plan. Those are not the folks that should be at the front. Those things ought to be considered. Instead the focus over here is on environmentalism and the Green New Deal. And extensions of that. That is a stunning contrast. They would rather had their own. If they talk about the economy its all happy talk. How do they get along anymore. They are trying to shut down public works projects all over the country. That could be a prime issue for donald trump in 2020. What is it take ten years. To do a highway. What are all the obstacles. All of the regulatory reviews that are absolutely unnecessary. With the pomp and circumstance. Remember that. The fact that the environment is in there. That is Traditional Democratic policy. The way that it was brought in and this notion that if youre not up party to the Paris Agreement we can do a trade talk with you. It was just an attack on corporations. They apply it millions of americans and i dont think that is the way to go. They just post quarterly earnings. Good morning it looks pretty good. The earnings per share for eli lily is coming in. That also beats revenue estimates. Also raising its guidance for the rest of the year in 2019 that is good. The big drop is truly city. A once a week ingestion piece. It brings in just over 1 billion in the quarter. This is the company of course that has cialis and prozac and all of those drugs. You should see this moving up about half a in premarket. Pretty good it report report in most importantly raising its guidance. Corporate profits proving to be more resilient. We were expecting a down quarter in terms of s p profits. The much better than expected. All eyes on the Federal Reserve this week. It is date one of a highstakes to date meeting that could end with a crucial decision about Interest Rates. vo the ant mindlessly marches on. Carrying up to 50 times its body weight. It never questions the tasks at hand. But this year, theres a more thrilling path to follow. father kids. Change of plans vo defy the laws of human nature. At the summer of audi sales event get exceptional offers now all right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for auto insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. Welcome back Tuesday Morning everybody. Thank you so much for joining us. Happy to say it is tuesday july 30 versus top stories right now. 6 31 a. M. On the east coast. It is day one of a twoday meeting today. Taking off. The investors are waiting for a rate cut tomorrow. When the fed announces that tomorrow at 2 00 p. M. Eastern. The futures are lower heading into the meeting. We are expecting a lower opening for the broader average. The nasdaq futures lower by 30. They are up on the session. Investors wait out the decision. We are just getting earnings. We will get to that in the second. The Global Markets this morning. It looks like this. The ft 100 is up 14 points. That is 172 points lower in germany the Economic Data there that we will tell you about. Markets were higher on trade. We are also looking at the bank of japan announcing it is leaving Monetary Policy unchanged keeping extremely low rates through the spring of 2020. Another big day for earnings. Before the open. We will have all of the open. Apple will take a look at what to expect thousands of officers exposed. And then a puppy party. One hotel will bring a bunch of Furry Friends along with other treats for you to enjoy. All of the stories coming up. The Federal Reserve is in focus this week. The first Interest Rate cut in more than a decade. The first one since 2008. Is coming as the United States has experienced record low unemployment and solid Economic Growth. The president tweeted this yesterday. Joining me right now as the National Holdings corporation. In art, that is a dilemma. The economy is doing well. Fiftyone your low on unemployment. On top of 3. 1 percent in the first quarter. The fed is really struggling with what the rate should be. Finding what the new normal is it seems to be broken or as not as effective. With very low unemployment and yet we are not seen significant wage price pressure. What we thought was normal was probably a little bit too high. Also at the same time the economy around the globe is slowing a little bit. I mentioned this in the journal a little bit. This morning and the wall in the wall street journal the confusing Federal Reserve. On the Available Evidence the fed is making up power on the fly. They like to say the decisions our data dependent but to ask it looks more like the central bank is on no particular data at all. Its really try to accommodate mister trumps public demands for rate cuts. Its interesting. Has gone from being on autopilot. They will wind down the Balance Sheet for a while. And then we became patient. What changed in between. It was really a slowdown of Global Economic activity. We are seen all sorts of signs that the Global Economy is slowing. Can show up on the shores. Probably the other thing is the entire ten years that they had been low on Interest Rates weve seen no real inflation push. What has happened to inflation. And what drives that. All of the data that weve seen. Has become dovish. A better jobs number. Durable goods. Across the board the data has been better. And what is it that could happen and end up on our shores. And there is a little pickup in inflation. It does not last long. I did think it was very generous of janet yellen to come out in favor of a rate cut a kind of gave you a bipartisan flavor. Not just about trump is just perhaps the right thing to do. I think when they worked together for a long time they have a lot of respect for each other. I think they make the case for anything. Are we actually using some of her ammunition now that we may need it later and why are we using it now. Unemployment 50 year low in unemployment. The consumer is actually doing pretty well. Corporate is not doing as well. It has been all about the consumer. Consumer facing companies had done better. Perhaps that is where the concern is. Low Mortgage Rates have it change that so much its more of an inventory struggle. Why is the Federal Reserve is still doing that. Its the dead and dying for a couple of days now. And then what is it that addresses the policy after that. How do we figure out what phone employment as right now. Why should they be tried to do that in the first place. They have to have something. If you leave the economy alone deregulation of tax cuts. The last couple of years. I think thats what theyre struggling with. Is not the only country looking at this insane weve gotten it wrong about inflation. When this started everybody was saying the other thing. I think its all been impossible for banks to lend. Would you put the stocks there today. Would you buy this market here . Understand this. The new alltime high in the middle of the catalyst drill week like we had right now. We never advocate making big changes. In a week or two. Even if we are here or higher i think this market is in very good shape. We will leave it there. Great to see you. Our token with the latest there. That is tomorrow at 2 00 p. M. President ial hopeful is suing google for temporarily suspending the campaign ad. The hawaiian congresswoman said she would be was the most searched candidate. They can censor anyone. This is about the unchecked power that these big tech monopolies have over us. And how this is a real threat. We all had to spend it united to protect our freedom of speech because today its me tomorrow could be you. Dish network has lost 31,000 satellite tv subscribers. An animal analyst estimate. By prepaid businesses. To create that time. To invest billions of dollars in building out their own 5g network. Lets talk about puppies. Puppies delivered to your hotel room. In celebration of national dog day. They are doing something kind of special. They can go for a private puppy party. Guests are also can have the option to rescue these adoptable and probably adorable pets. I mean come on. I was just posting about that this weekend. There is my rescue who is doing great. Loves her new home in new york. They had part of the stadium sectioned off to bring your dog. You dont need a hot dog bring the real dog. Real quick we talked to the other night. Its been censored by google. This is a real issue going into 2019. Why put yourself out there like that. Even Companies Like ours. There is millions of dollars in business every of business every year. With facebook and google. They shut it down arbitrarily. They just say its over. At suspended. Theyre able to go on Tucker Carlson tonight. And were able to talk to political condition connections in usc. There is some accountability in the future for this kind of behavior. I dont know how it can happen. As can happen. Dont forget what peter teal said the other day. There is the issue of privacy which mccarthy is trying to push to make sure Everybody Knows what theyre doing with the data but then there is this. And an sensory censoring conservatives. There doing the opposite of what theyre doing. They went out of their way to be fair with everybody and google should remember that. A quick break and then big banks at the border. Los angeles City Computers compromise. Its bright right after this. Let me ask you something. Can the past help you write the future . Can you feel calm in the eye of a storm . Can you do more with less . Can you raise the bar while reducing your footprint . For our 100 years weve been answering the questions of today to meet the energy needs of tomorrow. Southern company. Or trips to mars. 4. 95. Delivery drones or the latest phones. 4. 95. No matter what you trade, at fidelity its just 4. 95 per online u. S. Equity trade. No matter what you trade, at fidelity dto experiencer gthrilling performance. Now, at the lexus golden opportunity sales event. Get 0. 9 apr for 60 months on all 2019 models. Experience amazing at your lexus dealer. Youre smart,eat you already knew that. But its also great for finding the perfect used car. Youll see what a fair price is and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. Breaking his right now. Earnings come in and as at a dollar 30 per share. The revenue at 11. 76 billion. The estimate was for 10. 9 the nascent beats on top and bottom line. They also narrowing and raising their earnings estimates for the rest of the year. The same story on revenue narrowing and raising their revenue. Among the key drugs. Is and the health sales. That is up 3 . There up 13 . Overall much like eli lily a strong report more than 1003 . The Orlando Sentinel reports that the florida mosquito watch shows more cases of west nile virus. Residents being reminded that florida has more dangers than just sharks. Data potentially stolen from 20,000 applicants that thats potentially evolving personal information of those applications. In the denver post this morning says that the news control in an effort to combat air pollution. They propose controls. Colorado aims to comply. They will want the state in line with ongoing efforts with ongoing Climate Change. Tremendous progress is being made. We assumed that they would ultimately be forced to change the horrible immigration that horrible immigration laws. They didnt. Yesterday or sunday i spoke with the dhs secretary and he secretary and he said 54 miles had already been built and he is expecting 200 miles plus at the end of next year. Certain lenders choosing not to extend credit for Detention Centers. That is a bad idea and everybody gets hurt. Thats next. Who used expedia to book the Vacation Rental that led to the ride which took them to the place where they discovered that sometimes a little down time can lift you right up. Flights, hotels, cars, activities, Vacation Rentals. Expedia. Everything you need to go. Expedia. Liberty mutual customizes your car insurance, hmm. Exactly. So you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty what was behind that decision working with the Detention Centers. To focus on the decision first i think you have to think about how we make this. Move a group of Senior Business people that think about this decision. We really try to base it on what our teammates tell us. They basically said we should make a statement here. It holds for the system. About a week and half ago expanding the decision to stop all funding to private Prison Companies that run Detention Centers. That decision actually hurts all parties involved including the activists who are fighting to start border detention. It is good to have you on the program. I think you think you so much for joining us. Where you one of the recipients from bank of america. Weve have a 20 year relationship. Its been frustrating that these banks are trying to the state and local level with the new facilities and helping with overcrowding. See mac tell me about your business and why would it be something that the chairman had to get involved with. We had been around 35 years based in nashville tennessee and we been doing work with federal government to State Government all that time. Its a couple of key things. Facilities that we own and operate. Also provide cost savings for our customers. It will replace a hundred 55yearold. These are facilities helping them. They are helping them get employed. Not only that if youre upset about the way detainees are being treated at the Detention Centers and you stop funding what does that hurt. It hurts the people being detained. They programs. That is the people that they are hurting. They have come across the border and need a very safe place for them to preside. Theres nowhere else to get the funding. Another example our largest in the state partners here. It was at 200 capacity. You are hurting those states that are critical at a time where they have overcrowding. They need to reduce overcrowding. We need the capacity for them what else do we need for better conditions for the migrants. In terms of that region. We are very thoughtful with talking about that. We built a facility in texas and we built it day one for families. Not a traditional or what you think of at correctional facility. It has programs. We try to be very purposeful on the front end. Seen what the population is. What did you do as a result of losing the funding. The big banks that made these. Its very political but i will tell you maria we have large refund banks that want to do business with us. The work we do and serve this mission. Thanks for having us. Thank you so much. We will be right back. Im really into this car, but how do i know if im getting a good deal . I tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if im getting a great price. This is how car buying was always meant to be. This is truecar. Maria welcome back. Breaking news right now, Procter Gamble earnings are out. Lets get to Ashley Webster with the details. Ashley another good report. Earnings per share for p g, the worlds biggest Consumer Products maker coming in at 1. 10, that beats 1. 05 was the still. Revenue was better than the 16. 86 billion. A beat on the top and bottom line. Just going through some of the numbers, the sales growth looks good. Organic sales growth, up 7 . Sales growth overall, 3 to 4 on the upside. Also, the guidance adjusted eps growth for the fiscal year, up 4 to 9 . Thats a wide range but nevertheless very positive indeed. Also, just noticing here that the company says it estimates it will pay more than 7. 5 billion in dividends and repurchase 6 to 8 billion of Common Shares in the fiscal year 2020. As you can see, the stock also up more than 1 in the premarket. So thats three for three, 3. 3 . So Procter Gamble strong, Consumer Products company with strong numbers for the latest quarter, marie. Maria thats a big number, up three and a third percent on the stock. Last week in the gdp report, we heard that it was the consumer that was doing well versus the businesses who were actually seeing them sit on cash or decline in terms of cap ex, the consumers actually powering things. You have people with lower incomes getting bigger raises than theyve had in a generation. Theyve got something to spend without racking up the credit cards. Maria we saw it in the Procter Gamble quarter. Right now, capital one reporting a day a take breach affecting about 100 Million People. Deirdre bolton is here with details on that. Deirdre, good morning to you. Good morning. This is addresses, dates of birth, self reported income. This is the biggest breach 2019 when we saw equifax have this kind of effect as well. This young lady, 33 years old, she used to work for aws, she used to work for amazon, their web services, she was a systems engineer, this is the person they think has been the hacker for this. The intention was to sell the data online because basically if you can get access to people who have amazing credit, great self reported income, thats worth more on the black market. You go out, apply for credit, apply for mortgage in someone elses name, so most people say that was her intention to sell it. It highlights the weakness of the web services. So she knew amazons system very well. In this case, where capital one had a potential breach in the firewall, she was able to get in and she used the screen namer ne eratic. There was a white hat hacker who fight ifigured it out and got ih with capital one. As you go to the cloud, the risks are increasing. Here we have one for capital one. The ceo addressed it, saying he apologized to everyone, doing their best to address it. Maria look at the impact on the stock, down 5 on capital one. This is serious, 100 Million People. Maria normally you see all of these hacks from china and russia and you understand what theyre trying to do, try to infiltrate our systems. But an american citizen just hacking, a hundred million accounts. Its the new face of criminality, the jesse james of this century, i guess. We saw with equifax finally a number put on the cost to the company when they had a monster fine for having allowed a lot of data to get out. I think this is no longer sort of a sinfree world. Now regulators are going to say, hey, you lost this data and youre going to pay for it. In capital ones defense, they acted pretty quickly, they responded to the white hat hacker coming, saying youve been breached. Equifaxequifax seems to be slowo admit there was a problem. Capital one, they said okay, we know this happened, were going to address this. The pentagon is moving towards a cloud system, with a contract with amazon that will have a lot more ammunition against that massive contract after this hack from a former amazon employee. Before pay pal went public, i remember peter teal and mack lynn telling me, it was 10 million per day that was siphoned off by russian mafia, they were playing a 24 hour chess game, they would make a move, the other side would make a move and they would do this as they secured their funding. Theres so much lowhanging fruit. All these towns, cities, hospitals, that are routinely blackmailed now. Thats amazeing. I dont know where all this goes. Theres going to have to be a massive tightening of defense. The smaller municipalities dont have all the money to go out and pay for big, fancy hackers or security and they are targeted more than not. Even nypd. Maria deirdre, thank you. Deirdre bolton there. We are spotlighting detroit this morning. Democratic president ial candidates are gearing up to take the stage for the Second Democratic debate in detroit. Theyre headed to the battleground state of michigan where President Trump narrowly won in the 2016 election. 10 candidates will appear each night, tonight and tomorrow night. Tonights group features senators Bernie Sanders and Elizabeth Warren, tomorrow night all eyes will be on former Vice President joe biden and senators cory booker and Kamala Harris. The field is big. Joining us right now is former dnc chairman, ed rendell. Thanks for joining us this morning. Good morning, maria. Maria what comes out of these debates, do you think, tonight and tomorrow night, where we have this major pushback or debate within the Democratic Party about the way to govern, whether its this progressive aoc type, very left, or the more mod hmoderates. Well, its interesting. You can question what longterm effect these debates have. The first debate, joe biden and im a biden supporter. He did not as well as we would have hoped. He went down the polls following the first couple days after the debate. But now a month later hes back to the strong position he had before the first debate. Kamala harris, who was the beneficiary of a bump in the first two days, shes back she dropped 8 points in the poll. Query, how much longterm effect these debates have. One of the things theyre going to toys start the business of win knowinnesswinnowing the pro. It will be interesting to see if they go after each other on positions or past record because in the end, one of those two is going to emerge a and the progressive candidate and then tomorrow night, interesting to see how the Vice President does on attacks expected attacks from Kamala Harris and cory booker. Maria i guess theyre going to try to one up each other in terms of tonight. I wonder where the party is, mr. Chairman, on the stage that looks like this. In dc its chaotic with the executive director of the d triple c resigning after a massive uproar because there was a lack of diversity at the top. Here we have a stage with entirely white men and white women which received a lot of pushback from the base of the party. Joe biden will have the same tomorrow with Kamala Harris very likely. What do you see coming forward from the Democratic Party, how to push back on that . This is a battle between the progressive wing and the more moderate leftist center wing. Just like the republicans had the battle between the far right and more moderate right wing candidates. I think that will continue. It will continue probably through the first three or four primaries. I dont see Elizabeth Warren or Bernie Sanders dropping out until after the first month of primaries, maybe until after super tuesday. Maria so eventually you see them dropping out . You think they drop out eventually . Eventually, i think there will be maybe a one on one between the leading progressive and leading moderate, maybe someone like Kamala Harris who has sort of a foot in each camp sur vibe viiving surviving. Eventually, probably after super tuesday but maybe before super tuesday, but this goes a little forward with the debates tonight and tomorrow night. Mr. Chairman, can the party survive the lur lurch to the len terms of public economy. They cant use the economy as an issue. A lot of people dont like the idea theyll lose private Health Insurance. Is the party digging itself in a hole . Well, its making it more difficult, theres no question. Donald trump as you all know is a master of deflexion. If he had to run, yes, no, for reelection, hed get killed hes going to try to make the issue about democratic socialism. Thats easier to make against a Bernie Sanders leading the ticket than joe biden or amy clop chaor amyklobuchar leading. Its very important for people who are for preserving private insurance, want to make medicare an option, to make that point. And youve seen Kamala Harris sort of walk back her comments from the first debate. Maria she has walked it back. Thats what i want to ask you about. Because the 2020 hopeful has talked about trying to do both. She unveiled her medicare for all plan. She wants to transform it over 10 years into a federal plan which allows a limited role for private insurers, would be allowed to offer Medicare Advantage plans. Shes trying to walk this balance of saying, yeah, its medicare for all but were not going to destroy the currencies testimony in place where 180 Million People are currently getting their healthcare in the private sector. But governor, lets face it, i mean, under bernies plan its unlawful to have a system like private insurance. So can she really balance both . I think its going to be very hard. Her answer to what she did in the first debate, where she raised her hand for eliminating private insurance, her answer wasnt very credible. But yet the media said she had a star performance and that she was going to be the one to benefit the most. Shes got a problem, can she over the course of time moderate that problem or ameal i dont remembesomehow. Well see. I think thats more important than roughing up joe biden tomorrow night. What about the whole new Green New Deal and banning cows and things like that, doesnt that put the party on the fringe. Maria and air travel. I think the partys got to come out with a platform that says, yes, we agree with the longterm goals of the Green New Deal but we dont agree with the things that they sketched out to implement it. I think weve got to make that distinction. Because we have to be realistic. Voters want change but they want change thats achieveable. And they want change thats going to be achieved without messing up the economy. They also probably want to change without higher taxes, right . It seems as though an awful lot of these programs end up raising taxes on middle class and also seems to me that union workers, a group that i think the Democratic Party still wants to go after, are going to be particularly hurt by any loss of private insurance im really surprised that so many candidates are willing to kind of toss those very hardwon, generous benefits packages overboard in a quest for universal coverage. I cant imagine that works well. No, i dont think it does either. Youve got 160 million americans on private insurance. Lets say 100 million of them like their private insurance. Youre not going to tell them that theyre going to be forced out of their private insurance into a government program. Maria thats right. Its as simple as that. We have a lot of candidates who dont want to do that. Mr. Chairman, looks like the hickenlooper and klobuchars and ryans who are pushing back, theyre at 1 or less on the debate stage. Do you think joe biden will be able to resist, as weve seen him moving further and further to the left as he comes under attack. I think this is something joe understands absolutely clearly. We cant force americans out of private insurance. We can make medicare an option. That was one of the plans. We can have a public option in the aca, that was one of the plans defeated by congress. Those things will remedy the lack of coverage significantly. But we cant get rid of private insurance. People, a vast number of americans like their private insurance and, yes, youre right, a lot of that comes from unions who have good private insurance plans. Maria they want to keep those plans. Governor, good to see you this morning. Thanks so much. Absolutely. Good to see you, maria. Maria thank you so much, governor. China trade talks back on track in shanghai. Ill speak with john borso about the latest rounds of negotiations, mnuchin and lighthizer in shanghai right now. And a jury ruling against katy perry over a copyright, more on that when we come back. Stay with us. The songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for auto insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. 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. It all adds up. Dont 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. Maria welcome back. President trump tweetin tweetinn this morning, this time on china. He said this, china is doing very badly, worst year in 27. Were supposed to start buying our Agricultural Products now. No signs theyre doing so. Thats the problem with china. They just dont come through. Our economy has become much larger than the chinese economy in the last three years. My team is negotiating with them now but they always change the deal in the end to their benefit. They should probably wait out our election to see if we get one of the democrats like sleepy joe, then they could make a great deal and continue to rip off the United States even bigger and better than ever before. The problem with them waiting, however, is that if and when i win, the deal that they get will be much tougher than what we are negotiating now or no deal at all. We have all the cards. Our past leaders never got it writes the president this morning. Changes are coming to asylum rules. Cheryl casone with details there. Cant come soon enough. Cheryl no kidding. Attorney general william barr reversed a ruling that allowed migrants to apply for asylum, part of the Trump Administrations efforts to reduce the number of asylum cases which are backlogging the courts. Huaweis business apparently showing damage from being black listed by the Trump Administration, sales dropped 23 from a year ago. Huaweis chairman says washingtons restrictions have, quote, galvanized our people. The Trump Administration says huawei poses a security risk, a claim the Company Continues to deny. And then there is this. Katy perry is in hot water for ripping off a christian rap song. The los angeles jury found her Grammy Nominated dark horse copied a song called joyful noise released by the group flame back in 2009. Take a listen for yourself. First, heres katy perrys dark horse. Cheryl now, listen to flames joyful noise. I love it. Yeah. I love it. Lets talk about it. Cheryl all right. Perrys lawyers argued that the sections in question represent basic Building Blocks of music and that perry and her producers dont listen to christian music. But the lawyers for flame say perry started her career, which is true, as a christian artist and that the album joyful noise was nominated for a grammy and had millions of views on youtube. A jury will now decide how much perry is going to have to shell out for copyright infringement. What do you guys think . I think it sounds pretty similar. Thats my thoughts. Maria there are similar parts to it. I didnt think it was that similar when i first heard it. Cheryl you didnt. Okay. Maria there are little similar ive heard greater similarities in songs before. Maybe thats why my piano lessons didnt stick. Its a different key. I think if you change the key it would be pretty much the same. I cant believe this went to a jury. Thats strange. Cheryl it might be a an expensive settlement for her, actually. So well see. Well keep you posted. Maria cheryl, thank you. Coming up, were watching the Federal Reserve today. Were expected a rate cut. The central bank widely expected to cut results tomorrow. Weve got the market impact. And taking a bite out of your dinner, many food deliverers skimming some off of the top before they deliver your food. Wait until you hear that one. Back in a minute. Right on the money. Shes goes down right to my heart. And when it comes to loving me, shes everything i need and here we have another burst pipe in denmark. If you look close. Jamie, are there any interesting photos from your trip . Ouch, okay. Huh, boring, boring, you dont 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, youre 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. Maria welcome back. The Federal Reserve is in focus, fed chairman jay powell expected to announce the first Interest Rate cut in more than a decade since 2008. Hes expected to do that tomorrow as the u. S. Is marking record low unemployment and solid growth. Joining us right now is the president of jmp securities, mark lehman. Mark, its great to see you. Thanks for being here. You like the rest of wall street expecting a rate cut tom re tomorrow. I think the rate cs coming. I think its appropriate given what were seeing in numbers. I think the market is setting itself up for no big change after the announcement but i think were going to have a decent fall going forward. Maria weve had a pretty good rally going into this or really the markets have been held up and strong because of this expectation. So you think its all priced in at this point . I think for now it is. We saw pretty good numbers so far through the Second Quarter reports. I think if rates are going to stay this low, people are pricing Growth Equities differently and i think theyre paying more for the best growth companies. Weve seen that for some time now. If rates will stay low for a while, stocks will stay higher and growth will be a premium. What do you think will happen on the dividend front . I think companies have buybacks are nice, not as good as dividends. I think thats right. Some companies, you saw the banks get the approval to get more dividends out to their shareholders going forward. I think cash is continuing to be generated by the biggest companies. I think dividends, probably given the kind of cash levels weve talked bow, are going to be increasing. Whats interesting is the gulf between value and growth. Well see how that plays out. This is a continuing trend. I think were not going to see it change. Do you think pes will go up or will it be real earnings . I think earnings driven but pes if rates stay the way they are, youll see people repricing equity for the long term. Well be pricing in 2020 numbers pretty soon. That could give fundamental growth in the marketplace as well. Are you concerned about the breadth of the market, so much of the gain has been as it was last year from the fang stocks and related . I have been. This gulf that i talked about, between growth and value, has continued. And i think that has been unfortunately a trend for a very, very long time. Weve seen the same thing between large caps and small caps. That being said, we saw acceleration in earnings and acceleration of top line in some of the reports we saw last week, facebook is one of them. I think that acceleration of the Largest Companies its the stick with the winners. Punish names that didnt see that, netflix being one example. If youre going to acsell your numbers with this accelerate your numbers, i think people will pay more for the stocks. Maria what about the year ahead for ipos. Its been a big year for ipos this year, uber, lyft, pinterest, slack. You think after labor day it will be big. I think there will be a class of tech ipos and healthcare that will be important for the market, whether they absorb the names or not. Theres going to be a lot of names after labor day. Your viewers will want to Pay Attention to some of these companies and see whether they get absorbed by Portfolio Managers and individuals. Theres going to be a lot of a lot of tech ipos after labor day. Maria its not good if you dont have the demand, that usually sends stocks lower. Broader march cerkts is it able to market, is it able to absorb. Youre going to see Great Companies that go public that weve been talking about for some time. You continue to see m a, you saw sales for example make their largest acquisition of a Public Company ever, in tableau. We saw zoom, we were part of that ipo earlier this year. Zoom has been an unbelievable store. Those Great Companies will get absorbed. If they continue to come out and see that reception from wall street, i think youll see more and more. Do you detect a mania from shareholders, i want the next fang . Perfect example is beyond meat today. They reported a great number, you have a 3 million secondary coming. Mostly secondary stock, not primary stock. That is one of those things that you Pay Attention to. And well see how that company does. But to date, all the pundits for the last few years who have been saying we have this mania, these multiples, just wait. Theyve been waiting and the growth has been extraordinary. Beyond meat is selling at 100 times revenue, Something Like that. It was a little bit due for clearly. 14 billion market cap before today. Thats a pretty big number. Maria all you need was an you announcement of more stock coming to market and the stock goes down. Well see what happens in november. Mark lehman, jmp securities. Tune into our special coverage on the fed decision tomorrow 2 00 eastern on fox business. Ill be joining Charles Payne and my colleagues here to talk about the feds move. First, coming up, major data breach to report, personal information of over 100 million capital one customers stolen. What the bank is doing about it. Then the budget bill headed to the senate, its a senate buster, John Barrasso is with me on the spending bill headed his way, next up. Stay with us. Any way you want it, thats the way you need it. Any way you want it. Any way you want it, thats the way you need it. Any way you want it maria welcome back. Good Tuesday Morning, everybody. Thanks so much for joining us. Im maria bartiromo. It ise is tuesday, july 30th. Your top stories right now. Procter gamble and merck out with double beats this morning. Merck raised their guidance for year. Well get apple after the close tonight. Merck is up 3 right now. Big moves on earnings this morning. We are waiting on the Federal Reserve. It is expected to cut Interest Rates tomorrow. Futures are down, going into that meeting. This is day one of this twoday fed meeting kicking off today. Dow futures are down 100 right now, s p down 14, nasdaq futures lower by 60 points, three quarters of 1 . This on top of yesterdays moves which were mixed, the dow was up, the nasdaq and s p a 500 lower on the session yesterday. The s p had the second miest close in history yesterday. Global markets this morning look like this, as you can see, we are looking at a lower situation across the world this morning and the fq100 right now down 10 points, the cac is down 73, the dax index in germany is getting killed this morning, down better than 2 , down 260 points in germany on the dax index this morning. In asia overnight, markets were higher on trade hopes as this meeting is happening in shanghai. The nikkei average was up half a percent. The shanghai composite up a third of a percent. U. S. China trade talks have resumed, negotiations getting underway. Capital one was hacked, affecting more than 100 million customers and then this, a taking a bite out of your delivery. A Study Reveals how many delivery drivers admit to dipping into your order before it makes it to your door. The shocking number coming up this morning. All those stories coming up this Tuesday Morning. First, our top story this half hour, the senate is voting on a two year budget and debt ceiling package before the august recess. The measure passed the house last week. Joining me now is senator John Barrasso. Senator, good to have you on the program this morning. Thanks for joining us. Thanks, maria. Maria can you give us a tone in the senate to this budget. Of course, youve got congressional leaders and the president announcing the budget deal. However, a lot of debate, it is busting the budget again. It would add 1. 7 trillion to the projected debt levels. The budget deal would cost nearly as much as the tax cuts, the committee for responsible budget is saying republicans, dont do it. What do you say. I congratulate the president on putting the deal together which continues to keep our military strong. It continues to protect the full faith and credit of the United States. It keeps the government open. It provides certainty. But absolutely it spends more than any of us would like. But maria, watch the debate tonight with the democrats. With the Green New Deal and medicare for all, that would blow all of this out of proportion. So we have to deal with the entitlements that were looking at, medicare, Social Security, medicaid, the big drivers of expense in this country. But i think the president has done a fine job of putting this together. We have divided government for something that can pass the house and he will sign. I think hes found the right spot here. Maria so under this deal, Discretionary Spending rises 21 , senator, in the president s first term the budget deal would bring Discretionary Spending to near record levels. I understand your point on the military spending. But is there not a midlevel that you can reach with your colleagues on the left so that spending does not skyrocket and you could still protect the military . I divided government it seems the democrats under nancy pelosi and the far left wing that wants more and more money spent locally, you have to come up with a balance. But realistically, this as you called Discretionary Spending is such a small part of the budget compared to the mandatory spending. Today, 11,000 americans will turn 65. Theyll be going on Social Security. Theyll be going on medicare. Those are the things that continue to go up because you know under this Strong Healthy and growing economy, tax revenue is actually up because we have so many more people working and even though each is paying lower taxes because of the tax cuts, the total number of workers is bringing in more revenue and still our spending exceeds it because of the drivers with medicare, medicaid and Social Security. Maria so youre going to vote for the deal then. I am going to vote. I congratulate the president. We were with him last week at the white house and appreciate what hes done to make it possible. Maria youre not going to let the United States of america to default. I get that a Bipartisan Group maintain and repair highways nationwide. Senator, you introduced this bill. Who is going to pay for this . Youre absolutely right, we need safe highways, they is a Highway Infrastructure bill that the president has paid for. We do have the gasoline tax that is part of that in terms of the Transportation Trust fund. But that doesnt cover all of it. So this is going to be paid for, the bill markup is today in the committee. We expect a strong bipartisan vote. It deals with safe roads, better permitting, so we can do construction faster, better, cheaper, smarter under the one federal decision plan. The payment i think is critically important. We need to make sure the users pay for it. Right now, electric vehicles dont contribute anything to the highway trust fund. But in fact, they put a lot of wear and tear on the roads and that is going to increase so that needs to be part of the funding. Maria so of course theres a lot of things to pay for, a lot of priorities for this government. But when do you expect debt to become a priority, senator . Do you expect that if the president wins reelection that he is going to start taking a look at the entitlements and trying to rein in spending . I do. We raised that last week at the white house when a number of us met with the president about the longterm debt. And im somebody i vote every year and introduce the approach to say we ought to have a balanced Budget Amendment to the constitution. I voted for rand pauls balance the budget in five year plan. So i want to get to that point. The president is committed to doing it and certainly that means he needs to get reelected in 2020. Maria let me ask you about china, the trade talks picking up today. Of course we also are waiting on usmca effectively on hold until the fall. There are hopes it will pass before next year. Mitch mcconnell joined me earlier this month. He said the u. S. Should not leave nafta if usmca is not approved. Senator, whats your thought on that . The last time i spoke with the president , the president said if usmca does not come to the floor, hes going to go prenafta. Well, i would like to get usmca approved. It sounds like nancy pelosi is going to take it up in the house in september. And with regard to china and you were playing some things earlier that the president had to say, i agree. If it werent for President Trump, china would never even be at the table. We know that they cheat. We know that they manipulate their currency. We know that they steal intellectual property and trade secrets. That is their business model. If it werent for the tariffs and President Trump, they wouldnt even be discussing this today. I was in wyoming this weekend at fairs and rodeos and different events. Trade is important for us in wyoming. We have products we want to move in terms of our number one cash crop, which is beef. So we have agriculture products, energy products, trade is very important and i want to get these things done. Maria the bottom line, do you think its going to come to the i believe it will come to the floor. Nafta will have to go first im sorry, the usmca will have to go first to the house a after they pass it, the senate will certainly pass it. Maria you are expecting that it passes, usmca, so you dont think youll have that dilemma on whether or not to stick with nafta or go prenafta . Well, i know in wyoming talking to the farmers and the ag folks there, they want to stay with nafta, they prefer usmca, if not, they want to maintain nafta. Maria let me ask you about the debates tonight, senator Kamala Harris unveiled her Healthcare Plan ahead of the Second Democratic debate tonight in detroit. Shes going to be on tomorrow night. But the plan focuses on medicare for all but it is also including private insurers. Can you do that . Remember, first she raised her hand and said yeah, im endorsing medicare for awful when she figured out that it actually does away with 180 Million Peoples private insurance, she backtracked and said maybe we can do both. Can you . Well, you really cant. What she has coupo cosponsoree senate, along with all of the if not most of the democrats running for president , is the socalled medicare for all, a one size fits all Healthcare Plan. You will tell all your viewers, under any of these plans that they democrats are proposing you will pay more, you will get less and you will wait longer for care. The Green New Deal, take away your job, medicare for all, take away your Health Insurance if youre one of the 18 180 i dont kno180 millionpeople who get it. Thats the contrast through the 2020 elections. Im a doctor. I know what its like to take care of patients. Want to make sure people get the care they need from a doctor they choose at lower costs and certainly medicare for all is not the answer. Maria its interesting that they all are endorsing this, knowing that it does away with private insurance. So you dont think you can do both. Thats kamalas plan. What do you think well hear tonight from Bernie Sanders and Elizabeth Warren, each trying to one up each other on some of these socialist policies. I think were going to see this mad dash to the left. Theyre ca going over the liberl cliff. The party has taken a liberal left turn. Weve seen it on healthcare. Weve seen it with the Green New Deal. Youve seen it on abolishing i. C. E. In terms of our borders, in terms of abolishing the department of homeland security. Youve seen it on item after item after item. It just seems this dramatic move towards socialism is not what i believe that your viewers and my voters in wyoming are looking for for america. They want to have a strong, healthy, growing economy. People at home are delighted, the fact that we have 6 million new jobs since President Trump has been elected. Bernie says well, its just the 1 that have advanced. People all across the country have had new job opportunities, wages are going up across the board. And thats a result of the policies that weve come up with, the president said he wants to cut two regulations for every new one. Its turned out weve cut 13 regulations for every one new one. Maria we saw growth last week when we saw the second ga quart. Thank you. Well be right back. Sonoma county declared a homeless emergency in 2018. You have to know the individuals youre serving to understand their needs. Working with ibm watson we can bring together data spread across dozens of departments. That gives us a fuller view of the people we serve. Dear tech, dear tech, we need to look after everyone in our community. And we want to help our fellow human beings. Were changing whats possible every single day. , but what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve 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 companys apps to bringing you loyalty programs, our financial and Tech Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Maria welcome back. President trump visiting jamestown, virginia with political tensions with minority leadsers on the rise. Cheryl casone with details. Cheryl the president will deliver a speech to mark the 400th anniversary of the first representative assembly. Black state lawmakers are boycotting the event in protest. They say the president is tarnishing the celebration because of his comments towards minority leaders. White house is arguing those lawmakers are pushing a political agenda. Well, looks like job cuts are coming to citigroup. Bloomburg is reporting citi plans to eliminate hundreds of jobs in its fixed income and stock trading businesses this year as revenue is falling. That includes nearly 10 of the equities unit. Job cuts are seen as a troubling sign for wall street as clients move to the sidelines amid trade talks and the easier money policies. Citigroup shares edging slightly lower in the premarket. Well, a new survey is behind, get this, that delivery drivers are confessing, youre not going to like this. A new survey finds 28 say they nibble on customer food before it hits the door. 80 of customers that receive food deliveries suspected a delivery guy or gal maybe took some of their food and half of delivery folks say theyre tempted to dig in just by the smell of the meal. And then there is this. Its National Cheese cake day. This is good news, right . Cheese cake factory is offering any slice of its famous cheese cake for half price nationwide. The restaurant is also introducing a new flavor to honor the day. Weve got it right here. Its a pine apple upside down cheese cake. Its a pine apple its got cherries on top of it and theres cheese cake and pineapples and a really good sauce and i have a bunch that they brought for us today. Youve got the pineapple. Maria this is the new flavor. Cheryl this is the new one, the pineapple upside down. Youve got the red velvet over here, liz. Theres mango key lime. Theres salted caramel cheese cake and oreo dream. Maria steve needs a piece here. He can have the oreo dream. I thought i could resist cheese cake until you said oreo. Cheryl im not shy, eating cheese cake at 7 50 in the morning. Ill try the pineapple and let you know. Talk amongst yourselves. Maria the oreo one, look at that. I like the oreo. Im doing this only because of the show. Maria i know you are. Very tasty, i would think. Cheryl that looks really good. That is actually really good. Its nice and cold. Maria the pineapple has a nice twist. Happy National Cheese cake day. Thank you for bringing the cheese cake. Cheryl cheese cake cabbing friday, thanks, guys. Maria coming up, personal information at risk, capital one faces a major hack, with details of 100 million customers. Details after this. Im dangerous. And you can get up. Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin trusted advice for life. Kevin, hows your mom . Life well planned. See what a Raymond James Financial Advisor can do for you. carrying up to 50 times its tbody weight. Essly marches on. It never questions the tasks at hand. But this year, theres a more thrilling path to follow. father kids. Change of plans vo defy the laws of human nature. At the summer of audi sales event get exceptional offers now maria welcome back. Capital one is reporting a data breach affecting a hundred Million People. Investigators say 140,000 Social Security numbers have been come pro michecompromised. The stock is sliding on the news, down sharply this morning. Joining us now is wall street Journal Technology reporter, tim higgins. Thanks so much for joining us. Thank you. Maria the woman who did the hack worked for amazon aws services. Yeah. Maria tell us go ahead. Little early to understand exactly how this affected this. What capital one was doing was buying computing service, web Computing Services from amazon and what that means is essentially Remote Computers far away, capital one was using them from amazon to put their data into this cloud and then usually its to safe money on it and that sort of thing. We tend to see that Companies Struggle with Computing Services that are remote on this because theyre so complicated and tend to sometimes not configure them in the right way which leaves them vulnerable for attacks. The last time i looked at kaye da on this, more than 175 intrusions occurred because of these improperly configured services. Its more routine than customers realize. Question for you. Can we assume from this that the cloud is not secure . Because obviously that has been the big selling point from all these vendors, that trust us, your data is completely secure, et cetera. Or is this really a oneoff because you have an insider sort of affecting this hack . Well, so amazon might be selling Computer Services to capital one but generally speaking capital one would be in charge of adding whatever is on top of that and be responsible for configuring it. One of the questions remaining is exactly how did her alleged connection with amazon really affect things here. And what was capital ones kind of role in what they perhaps didnt do correct . So thats still something i want to see as we go forward. But generally speaking, when we see these kind of intrusions in the past, this is complicated. One of the benefits of Cloud Computing is that its so easy and that Companies May be frustrated with the couple bettecumbersomeprocess of it sel change to the cloud where they can kick it up and have the service going. Thats where weve seen problems in the past. If amazon is helping with cloud agreements with all these companies and these companies arent setting it up right and over and over again companies are getting hacked, what responsibility does amazon have to make sure these massive contracts like capital one, there is actually security here. Maria real quick, tim. Weve seen these companies in the past try to put safeguards in there to alert customers that they need to Pay Attention. Maria well leave it there. Tim, good to see you. Thank you. Well be right back. A lot more, right here. From fidelity. A visual snapshot of your investments. Key portfolio events. All in one place. Because when its decision time. You need decision tech. Only from fidelity. And my side super soft . 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And this is me now any physical changes to this mans appearance are purely coincidental. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Morning. Thanks for joining us. Im maria bartiromo, tuesday, july 30 top stories right now 8 a. M. On the button on the rooeks u. S. China trade talks resuming in shanghai President Donald Trump warning china should not wait for 2020 election to make a deal it will be, tougher, futures taking lower this morning on that, as well as weakness in europe, dow industrials down 99 points right now s p down 13 nasdaq down 54 we did have strong earnings, dow component Procter Gamble merck betterthanexpected results merck raising guysance for the year stocks moving p g up 3 1 2 merck shares up better than 3 apple after the bell that is certainly important perhaps setting the tone for tomorrow, this after mixed do a on wall street yesterday the dow up 28 the s p down 4, the nasdaq was all about 36 Global Markets look like this, in europe, ineuropean sentiment detection barometer of optimism dropped 6 10 of a point in july prolonged weakness in manufacturing particularly germany weighing on markets ft not as big a hit even as the pound british pound weakens on worries over brexit this morning ft 100 down 9 cac quarante down 78 weakness in germany as earnings have disappointed there dax down 25 1 points better than 2 lower. Asia overnight markets hire corroborate gains fractionally moving the world waiting on Federal Reserve, it is day one of a two day Federal Reserve meeting, today, kicking off, twoday meeting servers are expecting a rate cut tomorrow more on what to expect coming up, largely expecting a quarter point cut we will be announced tomorrow 2 pm eastern. Capital one was hacked affecting more than 100 million customers stories coming up Tuesday Morning joining me to break it down Fox News Contributor columnist for the hill liz peek here daley caller editor in chief Christopher Bedford here chairman forbes media former republicanan president ial candidate steve forbes himself with us. Good to be with you everyone focuses on feds i think we got to focus on china not just trade talks but what is going to happen in monday morning hong, if that spins out of control repercussions over. Beijing can tell us dont worry we got it koifrd people are happy we hear directly from people. Beijing takes rebellions, very, very seriously seen these in the past, spin absolutely out of control. Internally so i am weve got to watch very closely. I think important because a lot of the protesters are young people, who are saying i know what my future is in jeopardy. Beijing energy hong kong. Ho how are we going to respond gage this already. The butcher of Tiananmen Square premiere ordered that attack passed away protesters facing head of communist party more powerful since founding. Hong kong grew up with western values, so the whole idea that beijing would want extradition bill if you congestovered you are going to face the consequences in beijing, totally undermines the values of hong kong. Totally hong kong is incredibly important Financial Center for getting Everything Else for a moment, it if anything, jeopardizes in asia interesting to see who takes up reins i won if will come up in democratic point to your point President Trump could talk about this has a not weighed in on this, probably because we are talking trade again. But interesting to see if anyone the democratic everyone thought after turnover shanghai would take over that business, no, hong kong has a rule of law people want to listen to hong kong dont want shanghai. It is interesting that you say that for the longest time i have thought of hong kong as International Hub the way new york is just the way, other cities across the world are, but i dont know do you see it as international and democratic as you always have . I actually dont. I am shocked it has taken that long for beijing to crack down on hong kong seems difficult to keep experiment freedom, western values, and global same live in a communist country this is more likely just another step towards what were going to end up facing east versus west china versus United States from hong kong in china. See if u. S. Government booefz up the arms deal with taiwan. Maria that is important, taiwan relationship hong kong relationship selling arms to taiwan, as you know, it is not making beijing happy at all you when you also need more naval patrols south china see is international. Maria yeah zam, while all of this is happening in hong kong, the talks with china, are resuming u. S. Officials in shanghai form are issue negotiating blake burman, good morning to you. Reporter treasury secretary Steve Mnuchin u. S. Trade representative Robert Lighthizer in shanghai first facetoface discussion since talks broke down, in early may, meantime back here in washington, President Trump is adding to the growing chorus of skeptics this morning about a possible trade deal being on the horizon any time soon. The president has sent out three tweets today already, including one delineate let me sort of walk you through them stepbystep first, he expresses disappointment saying that china is not following through on a promise, large scale ag he writes china quote was supposed to start buying our about agricultural product now, no signs that they are doing so that is the problem with china. They just dont come through. Then he brought up his latest theory that china might be trying to wait and see what happens in november 2020 writing quote my team is negotiating with them now but always change the deal in the end top their benefit they should probably wait out our election to see if we get one of the democrats stiffs like sleepy joe then threat third tweet the problem with them waiting however is that if and when i win the deal that they will get will be much tougher than what we are negotiating now, or no deal at all. Now leading up to talks u. S. Side was hoping that china would follow through, on that ag buy move back to where tucson, arizona were before they broke down in may one of chinas main sticking points is removering huawei from the commerce adept enemy list, essentially a u. S. Sales ban, this morning, huawei chairman held a call in which he said their year to date earnings up 23 said huawei has recovered 80 revenue relate to go ban the chairman adding quote we have seen a gradual recovery in the supply china, and we hope that we can get licenses, back to tweets for a second one thing trying to track down a backdrop to it whether or not the president has been briefed on the talks, of what happened today and that is what led to those tweets, or if it simply just an Early Morning riff leading up to two days of discussion president will reef south lawn about an hours time, hope to get comments on china then. Maria blake thank you so much blake burman white house before we do joining me First Television interview since leaving Trump Administration, is former insinuate secretary of the treasury for Public Affairs former assistant secretary under Steven Mnuchin is here great to see you. Great to be back. Congratulations on a great run at treasury you are now going to private practice we are happy you are here. Great to be with you what do you think about china story you heard blake talking about, whether or not the president is briefed, how often is he briefed in terms of meetings when mnuchin goes to beijing. First and foremost the president is the force on policy there is regular communication between delegation and president naturally in this instance i am not sure that is what led to the tweet. But, more importantly, maria i think the president is convinced now more than ever as Economic Team we have o he leverage with china their economy is slowing increasing did he manned from middle Class Companies as we are seeing potentially moving supply chains out of china. A lot of them are. Surveys that came out recently, American Companies are now smartening renegotiateing themselves directly with their chinese counterparts and having some success with that as well so there is Economic Conditions in china that certainly make this an important time for them, to be open to a deal, and not just puric victory we can chief any point announced purchases maybe agreement to go forward what the president wants what secretary ambassador lighthizer are negotiating, is real structural reform touches on forced Technology Transfer forced joint ventures threat of of intellectual property as well as enforceable deal this has no meaning to the United States if chinese are not going to agree to remain about accountable to what they agreed to this is why it is going to be a bit complex but he overall i remain optimistic. Oi know that because the ticket item is fact chinese have been stealing our intellectual property for decades, and the fact they have so much money that when they acquire a company they forced you to turn over all technology, i mean to me, if from outside perspective looks like were not getting a deal these are cultural what happened when they rereneged in may what happened. There was tremendous amount of progress the secretary was on your show, from los angeles, ahead of that trip, we had believed that the point we were on the kind of close to the goal line there i do think for china to accept to make a lot of these domestic changes to laws to make this on a enforceable accountable agreement they met resistance am i suspicion . Did not want it in law you captain steal from americans. Much like we have trade hawks here they have trade tlauksz i think one of the interesting developments these taxi i have not gotten confirmed whether or not the case but my understanding one of the members Commerce Ministry considered a hawk is joining these talks that could be a good thing, because that mean wha means alignment throughout process maybe chinese side entire time talks to this point led by someone much more as a reformer vice premier on economy he. I there i there is a big story that you have an opportunity for us to get this right, the United States and china the worlds two biggest economies cooperated together and worked with each other, to create a fair, balanced relationship that is going to have massive impact on Global Economy i would say our biggest point of leverage we have at the Largest Consumer market in the world we make it open with very few restrictions, to all of our trading pumps concluding chinese that gives strong leverage we should not give up. You led the coordination of the administration effort on tax reform, you headed up took Reform Communications team, obviously, really works, you moved the needle on Economic Growth 3. 1 first quarter, 2. 1 Second Quarter if things going so well why do we need cut in Interest Rates we are expecting 25 basis point cut tomorrow. I will say the following, and observing my former boss secretary mnuchin try to avoid opining directly on fidelity policy i think completely legitimate for the president to do so these are very important things i dont think the president having opinion fed having independency mutly exclusive if you look at rationale Global Economy is weaker low inflation could plead to obviously, better condition to have a rate cut, but mirror broadly maria, the American Economy is the strongest it has been in nearly half a snourt job market strongest nearly half a century tax he reform regulatory release policy trade policy created environment workers getting more in paychecks the lowest one sixth of wage earnings getting biggest wage growth under this xh i. Taking point on left that a top slice of the rich got it, that is going to be talked about tonight, tomorrow tonight at debates usmca, is another issue that the president needs to get done this is the priority will it oppose do you think she brings do it the floor. Very bullish about usmca for a lot of reasons wonderful coordinationest been republican democrats amador lighthizer his team done a great job creating working groups with Speaker Pelosi on senate side throughout this entire process, it is good policy, and good policy is good politics. Most of the democrats really are coming out behind this, the letter of 14 signed from congressional members rankandfile democrats speaking on behalf of their districts, not some political platform this is good for farmers good for many factories good for workers for labor that is very important point. Senator barrasso thinks it comes to the flow in the fall you will is that when you are. What it is tracking showers that is what i hope. Good to see you. Tony, coming up security Alert Capital one hit by massive data breach shth at aing a hundred million euros, personal income and spending numbers coming out less than 20 minutes. 5 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 at comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. 4 out of 5 people who have a stroke, their first symptom. Is a stroke. 80 percent of all strokes and Heart Disease . Preventable. And 149 dollars is all it takes to get screened and help take control of your health. Were life line screening. And if youre over 50. Call this number, to schedule an appointment. For five painless screenings that go beyond regular checkups. We use Ultrasound Technology to literally look inside your arteries. For plaque which builds up as you age and increases your risk for stroke and cardiovascular disease. And by getting them through this package, youre saving over 50 . So call today and consider these numbers for just 149 youll receive five screenings that could reveal what your body isnt telling you. Im gonna tell you that was the best 150 i ever spent in my life. Life line screening. The power of prevention. Call now to learn more. Maria welcome back, major data breach capital one cheryl casonon. Cheryl capital one says personal information belongings to go 00 Million People was stolen broke into a database containing home addresses birth dedicates investigators say thousands of Social Security numbers Bank Account Numbers also stolen. A suspect has been he arrested in seattle by fbi to cost capital one up to 150 Million Dollars, dow components outs with betterthanexpected results about merck adjusted ep earnings per share raised full year guidance, and also looking at shares of Procter Gamble this morning in, rally mode beat expectations on top of the bloomz stock up the improve result. The viral hit old pound road just broke a record. I wanna take my heart, ride till i take my heart, i am gonna ride till anybody toing more. That single the top of the hot 100 chart 17 weeks most ever, and broke the previous record 1996is popular not my groove somebody lovers it i think kids love it. A long thank you, President Trump is tweeting just said this, the senate is working hard on America Transportation infrastructure act we will have big impact on our highways roads cross our nation writes the president strong from republicans and democrats do i hear beautiful word bipartisan . Get it done . I am with you, senator barrasso talking about a few minutes ago the world eyeing a rate cut from Federal Reserve day one of fed twoday meeting kicking off day. June personal income spending numbers to you a out 10 minutes we bring those see if they impact markets as soon as at the hits the tape, back in a moment. Users. Welcome back day one of twoday meeting by Federal Reserve jay powell widely expected to announce first Interest Rate cut since 2008 tomorrow 2 00 in thearound move as u. S. Experiencing record low unemployment solid growth joining us right now chiefs economist thank you for joining us. Thank you for having me. We are seeing very strong growth 51year low unemployment, but there has been some weakness spots in manufacturing, and housing, do you think the fed needs to cut. I do think the fed acknowledged there is weakness in particular underneath the significative overall fed continues the notion fed in a good place using tools to keep economy in a good place loifl when fed is gone cut rates because economy has cell phone we are slowing in or near a recession, this time the fed says economy is not falling off a cliff just taking preventative measures we want to take action ahead of that weakness to stabilize this economy hopefully perpetuate expansion. Seems responding to europe. Germany, is worst growth six years manufacturing slowdown there seems, is that have motivating factor would you say. Absolutely because the question is if the domestic economy on stable footing why cut rates at all the fed said we see international uncertainties plaguingoutlook. They got wrong last year. True. Maria good point. France or germany if fed. Not helping france or germany but domestic policy makers focused on u. S. Dont necessarily care Global Growth is slowing but care from standpoint of risk contagion. Maria going to impact dollar sometime ladies u. S. Has to keep patriots. Absolutely cant pushing on a string if we see ecb as suggested they are ready to add additional stimulus we know in latest meeting but ready to provide additional stuff there raises basic question can Central Banks stimulate an economy when you have structural problems when you have clouds like trade uncertainty, if we put tariffs on autos i dont care what ecb does with germawhat they do here are going to be in a heap of trouble why overlook structural things. 25 on light trucks. I think you right going to be very difficult this time around for the fed to stimulate the economy independent of the structural issues we are facing simply because policy, is starting from such an extremely low level think about 07, 01 cut rates 5005,00 basis points this Time Starting from upper bound of 2 1 2 . Not to be labor past 01, 07 sometime latest the economy after 01 tax cut of 2003 not what fed did 2007, 2008 worst recovery from sharp downturn about american history. Why worst river we didnt have fall policy in tandem with Monetary Policy stimulus you had one competing with the other. Monetary, cannot overcome fiscal. We need both the the timing is ill placed we need that as start of the recovery. Great to have you thank you so much well be right back tune in tomorrow 2 pm Eastern Special coverage of fed decision on fox business. Stay with us. Kevin Kevin Kevin Kevin Kevin Kevin Kevin trusted advice for life. Kevin, hows your mom . Life well planned. See what a Raymond James Financial Advisor can do for you. Bartiromo tuesday, july 30 top stories right now just before 8 30 a. M. East waiting for personal income spending, as soon as i gettics in will tell you what they are meanwhile, trade takes hitting the markets this morning, President Donald Trump warning that china should not should not wait for the 2020 election to make a deal it will be harder futures taking a leg lower this morning not only on that weakness in germany, weakerthanexpected earnings british pound trading down very latest income in line with expectations, up 410 right in line with expectations the Economic Data newborns just coming out they are numbers coming out watching from aa fed rate cut tomorrow, it is wild expected fed will lower Interest Rates by quarter of a percentage point announce tomorrow 2 00 pm eastern markets down into twoday meeting dow futures down 82 s p futures down 12 nasdaq futures he lower by 50, Global Markets are also weaker really a Weakness Starts here european Sentiment Index barometer of optimism down in july so long weakness manufacturing particularly in germany weighing on dax today take a look ft 100 not as big a hit due to pound continuing to weaken, the british pound weakening on worries over brexit ft 100 down 10 cac quarante paris down 71 dax in germany lower almost 2 , 231 points loir inb asia overnight higher on trade hopes given fact group from u. S. Mnuchin, lighthizer in shanghai, ready to do a lirn that will kick off new talks, all those stories coming up asian markets higher across the board stories coming up this is top story this half an hour democratic debates begin tonight, Bernie Sanders Elizabeth Warren 8 more take the stage this is the second is about set of debates obviously, socialism health care 2017 tax cut trade major talking points General Motors expected attacked putting out two fact sheets ahead of debate on operations in the United States, joining us right now former ckcommittee restaurant ceo former labor secretary nominee author of capitalist comeback and puzder, you think a lot about Elizabeth Warren health care. I think socialism is way democrats should go make entire platform [laughter] good move on their part, i hope Elizabeth Warren we heard talk about she released something on trade essay on trade wants to negotiate trade deals by committee i am sure xi jinping anxious for her to enter the fray. Retroactive has got china back on heels, gop growth slowed lost 5 million jobs two Million Manufacturing jobs due to tariffs. Gdp in china 10,000 hong kong 49,000 taiwan 26,000, japan is 41, you got all neighbors sursurrounding Chinese People know they are economy needs to grow. Maria Elizabeth Warren plan, is trying to play on the idea that Business Managers have stopped investing, capex down gdp report says her plan would handle trade policy differently that before he notifying a deal warren would gunfire negotiates to disclose drafts to the public inoversighting labor environmental groups, require u. S. International trade commission to analyze how to deal with each region of the country wants more analysis about it. Astounding exactly how an academic a politicians would try to negotiating take your negotiations hobble them so they cant accomplish anything hold it is steve can tell you this is the worst way, you could see ever possibly negotiate a deal you never come out with anything to benefit country or businesses. Politics. Politics it is a joke all her proerpz are find of funny if you try to persuade from economic rather than political. Ant antiu. S. Korns greed against private equity vulchers at a loting the kwi i dont know who she thinks is public for this does every american hate countries that employ them most work for Big Companies reality is the numbers are off millions of people work for Big Companies. Like she has to go out in front iffy American People sigh who are you going to believe lying wallets or me. They dont want to talk economy because doing well every income group she keeps saying a slice at top only people impacted by this tax legislation steve we know that you are talking about record unemployment for hispanics, almost record unemployment for african americans. Wage growth lowincome people first time in a generation that president would say huge andy i want your thoughts on one of the things i think is vulnerable for the republicans, is health care. With the companies putting in high premium plans people feel they are spending more than ever before, drug prices going up how should gop respond to that. That is what happens when you put government in anything. There is only one thing in the history of the world, that increased quality and lowered prices just one thing that is competition. If you increase competition, in Health Care Sector providing health care or insurance two Different Things insert competition, you will see prices come down, quality go up. How should republicans he propose increasing competition nationwide shopping for Health Insurance what are some ideas you think would help them out. Anything you can do to get the government out of the market, i think is going to help, there are things that the American People want, and government does serve a function, everybody wants people, everyone to be able to be covered insurance policies for people preexisting conditions things people want the government should get involved but beyond that it should get out of the way. Should a that shows how far Barack Obamas presidency shifting perceptions in this country, now they are arguing from the field of well insurance must cover every one now Insurance Health care republicans fighting democrats turf completely. Want free jogs. The strange thing we are at the point in Democratic Party the conservative position is obamacare. [laughter] amazing. If you believe in obamacare you are conservative to democrats. I think republicans will end up there i think republicans in druthers could in back room scratch out name obamacare put on trump care make minor adjustments bring back as plan really they have not come up with anything better. I thought the senate plan, the bill that should have passed the senate but for john mccain i like john mccain, he was a a friend i dont want to say anything bad built he should have voted for that plan i thought the senate plan was very good would have made big difference. Green new deal . 2020 hopefully senator Kamala Harris with alexandria ocasiocortez, to put the green deal in place even though 90 trillion dollars cost, harris pout out a statement says client change is existential a threat crucial we act now achieve cleaner healthier future but not enough to simply cut he mitigations end reliance on fossil foouflz we must sure communities con tends heing with unsafe Drinking Water toxic air lack of Economic Opportunity are not left behind all in on the green deal. Thank god. [laughter] socialism that is what they should go for the Green New Deal. Alexandria ocasiocortez is a chief of staff classroom talking to somebody said you think this is about Climate Change it is not. It is about changing the economy this is it is a ridiculous plan cant be implemented we cant pay for it, rich people in this country people that make over 500,000 dollars a year, they made a total last year two trillion dollars, so if you taxed one hundred percent of it you would be 10 trillion dollars short . Of what you need to pay for this there isnt money to pay for it they cant do it, but i hope something that they continue to procure aggressively looking forward to the sovt antisemiteither secedeing screed. It is income re, dr. Exactly what it is, i think if they talk about it that way, that they will be very successful i would encourage them to so, so if watching. As business man do you think it is critical, how important is usmca passing this fall. I think very important, that it passes this fall this is a good deal for United States, not only important from a business perspective it is important from showing American People that the government actually can function, this is this is not this is not a not anybody should object to a great plan. What are we supposed to think about other nations . We are seeing this president has done incredible things with other countries particularly immigration with guatemala mexico, guatemala and mexico doing more than democrats in congress, to address the crisis at our border, so we are really seeing progress, under this president , dealing he with or foreign nations we need really does need to be improved if as american i would be very disappointed with our system if we cant get this through. Dhs secretary mack leanan joined me is on mcaleenan said numbers way out in terms of people in dependency because of mexico deal and guatemala as well. Ask this president has been very successful, without any help from the democrats. Would he thank you. Is it pleasure poto be here. Under armour cutting revenue forecast tanking in premarket think a at under armour Kristina Partsinevelos on the floor with details there good morning to you. Good morning you are right yes stock is plummeting why you are getting mixed results revenue lower than expected 1. 19 billion dollars but the outlook from company, that is worrying a lot of investors the company believers sales in north america will drop, originally thought just flat, sales for past water north america down 3. 2 even though internationally they are growing 12 major concern competition in this market, for now under armour has to rampup leisure going to focus on women for the quarter they also announced inventories down expect earnings per share next fiscal year year, this between 33 to 34 cents switching gears completely talk about beyond meat, sales draweddrupled this quarter continue to skyrocket we love to talk about it ipoed in may shores down almost 15 stock wobbled Moment Company announced secondary offering putting out 3. 25 million extra shares investors didnt like that boom, down the stock went, then last but not alleviate ending with apple going to hear them after the bell Second Largest Company market cap expecting eps up 2. 10 which is lower. We want to hear what apple has about future given uncertainty around trade who are not more tariffs hit iphones thank you. We keep watching that coming up spotlight on detroit tonight 2020 dplookt hopefuls headed to battleground state of mi for the second round of debates Stuart Varney is going to weigh in on that when we woman he right back fortnite, why mom and dad fear business of gaming is posing a major threat to patchering participanting. Welcome back to court report for fox business i am jaime this openly under way in washington, d. C. He claims first tour win of the year took out fellow american dennis in straight sets, nine aces five breaks for paul in impressive victory 22yearold moving on to face top seed in the second round. Playing a lot of tournaments with them ics i never really never played against him or even hit with him until this year on grass a little different, plan playing on hard courted i am excited to get out there, definitely a challenge but i am excited. Dont forget you can watch the citi open live on tennis channel from d. C. Starts at 1 pm eastern. Hmm. Exactly. Liberty mutual customizes your car insurance, so you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty screed. President tweeting responded to our last segment on china, china lost 5 million jobs two million manufacturers jobs due to trump i tariffs trump has china on heels United States doing great, that is from andy just said that on the program the president obviously, react to go andys comments, this morning. Turning to second round democratically debates under way it will likely include topics Stuart Varney planning a late night watching it joins is now host of Varney Company good morning to you. I saw that smirk maria i know you dont believe i am going to stay up till 9 or 10 00 at night i understand these things. But you are. I am gonna do it two reasons. Number one itch itching to see democrats explodo implodedless elizabeth latest played profile you cant trade with if anybody have in the in Paris Climate Accord cant trade with anybody doesnt want to ban end fossil fuels crazy stuffy Bernie Sanders just came out said working class being decimated i will watch for implosion i am sad to see demise of cnn i was founder with lou dobbs i am amazed how far down it has gone, tonight, one of the moderators in democratic debate don lemon an opinion guy, an abject trump hater, about always called the president a racist are we going to see him tonight as a moderator of a debate how far down the professional journalistic poll can these people get why i am watching the implosion of democrats frankly of cnn. I worked at cnn with you as five years obviously, not as long as you did, i love cnn i look at it today different than when we worked there we were in ted turners cnn this is jeff zuckers cnn. We put news on the air. Right. That was the news was story we did not play politics did not come you on either side never nasty just get it on the air. My how times have changed. Maria really have. Depressing to sight i am going to watch. I am staying up too. Really . Yes. You work even stranger hours can i do. We will compare notes tomorrow see you i will text you in the middle of the debate about. Top of the hour 9 a. M. Earn after mornings with maria join stuart next 10 minutes fortnite fortune teens taking Home Millions of dollars in prize money parents are not onboard mom and dad fear a major threat to parenting wait till you hear this. Next up. Stay with us. And. Thats your basic threepoint turn. [ scoffs ] if you say so. Im sorry . What teach here isnt telling you is that snapshot rewards safe drivers with discounts on car insurance. What . Or maybe he didnt know. [ chuckles ] im done with this class. Youre not even enrolled in this class. I know. Im supposed to be in ceramics. Do you know room 303. Oh. Thank you. Yeah. Good luck, everybody. Can the past help you write the future . Can you feel calm in the eye of a storm . Can you do more with less . Can you raise the bar while reducing your footprint . For our 100 years weve been answering the questions of today to meet the energy needs of tomorrow. Southern company 4 out of 5 people who have a stroke, their first symptom. Is a stroke. 80 percent of all strokes and Heart Disease . Preventable. And 149 dollars is all it takes to get screened and help take control of your health. Were life line screening. And if youre over 50. Call this number, to schedule an appointment. For five painless screenings that go beyond regular checkups. We use Ultrasound Technology to literally look inside your arteries. For plaque which builds up as you age and increases your risk for stroke and cardiovascular disease. And by getting them through this package, youre saving over 50 . So call today and consider these numbers for just 149 youll receive five screenings that could reveal what your body isnt telling you. Im gonna tell you that was the best 150 i ever spent in my life. Life line screening. The power of prevention. Call now to learn more. Fortnite fixation game taking over teen screens across the globe study from pew reveals key worse videos maintaininging fortnite generating more than 5 times as many views videos without that word, and pays to play, one 16yearold he took home 3 Million Dollars in prize money winning first fortnite are world cup another 15 years old he hoping to use it to buy his mother a home p parents the craze sparking fears could make live heard for parents parenting, doctor thanks for being here. I find it amazing that in your therapy sessions families say get my young kids off this this is part of your sessions. It is a par he wental challenge as will this invadeed the family, systems because it is so addictive liken to do heroin, prince harry in britain said i dont know why anyone would have fortnite in their home it is giving like giving a highlied heroin it is shown it just as dangerous. They have done research into this companies to target towards people but here we are seeing looking at shots, this is a stadium completely packed with young people, he remember motherinlaw trying to get wife off games forever now a professional in that industry, so we were revamping a new level in video games people are winning money socializing meeting each other in a way not just in the basement with a bottle any more it is Something Else maturing into international support. It is an International Sport made that way by esports industry it is not really sornlizing socializing human contact able to to talk listen speak to someone looking in eyes you get a human response. Worse than what television was . You know different, i think that parents can turn this around, though in a parental challenge can be made into maybe a conversation. And parents can talk to their kids about what is happening in fortnite it is interesting, teams, aspects. Buffalo wild wings watch party for games i walked into other day about unbelievable jerseys banners, everything. [laughter] to steves point very did i from tv that is relaxing the thing couldnt stand when my kids doing games so tense making, come home from after school, i mean isnt that true . It is that is what addiction is addiction is that you release dopamine get a high from it keep going and going and going that is exactly what is happening. Unbelievable. I read about the young men the 16years old won three Million Dollars, and he said he does his gaming 10 to 12 hours a day. Wow now that is not healthy for anyone. Really not. Great to right you are passionate about it. Thank you. Thank you great from this important subject thank you so much final thoughts from allstar panel. Back in a minute. Ing process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for auto insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. Fifty years ago, humanity went to a place it had never been. A place without rivals, hostilities, or cultural differences. The eagle has landed that place wasnt 240,000 miles away, one small step for man for a few moments, it was right here at home, one giant leap for mankind over 4,000 people from ibm helped apollo 11 get us there, today, we are ready to take the next giant leap, wherever it may lead. Dont miss your gto experience our most advanced Safety Technology on a full line of vehicles. Now, at the lexus golden opportunity sales event. 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This one brings into question the security of the cloud. That is the backup for corporations around the world. Heres the story. Capital one credit card applications, the personal information on over 100 million americans, stolen. A woman has been arrested in seattle. Shes accused of breaking through capital ones firewall to access data stored on amazons cloud service. Both stocks are down. This is one of the largest ever data breaches at a big bank. Well have