Charles boeing is up. Was up a lot more after it continues to expect the 737 max to return to service this year. Jackie the initial reaction sent shares down. It was down to 330 a share but as high as 346. What changed the dynamics . Reporter good afternoon, charles. On its face this was a big eps miss. 1. 35 expectation of 2. 09. Revenues were slightly higher than expected. What was said about the 737 max plane. Anment acknowledges they still plan to get it up and running in the fourth quarter. Ceo Dennis Muilenburg said it is a top priority to return it to safe service. That is all it took to get analysts excited. Credit suisse had a note that there was no incremental negative news on the 737. That is really all investors wanted to hear. They looked at this as a crisis. The company is handling it. They are managing it. We baked it into the numbers and it will be on target to get back up and running. Having said that, im not sure the market is looking the right way. There are still a couple things to be worried about when it comes to this company. On tuesday the ouster of Kevin Mcallister from the airplanes division. That is begging a question, could ceo Dennis Muilenburg be next because of how he handled some of the steps. Then there are the Text Messages . What did the company know about the safety of the planes . Were there concerns communicated about them. That is one issue. The second issue in the report was production of the 787, not to be confused with the 737 but the company is saying they will cut production and theyre worried about global trade tensions. That is something to think about going forward, charles. Charles certainly a lot to think about. Jackie, thank you very much. Investors eyeing profits as the earnings parade continues. Self Companies Reporting disappoints quarters. The market sort of reflecting, looking beyond this quarter. Boeing, leading the dow higher. You heard from jackie on the 737 news initially traded much lower. I want to bring in from rosecliff capital, mike murphy, kaltbaum capital president and Fox News Contributor gary kaltbaum. Gary, when the stock was trading down at 330, boeing, all the things jackie talked about were public knowledge. Something shifted. I feel like anxiety, buying anxiety out there when these turns happen a lot of folks who have been wanting to buy the dip, all move at the same time . Just keep in mind, also hits 350 today. It has been selling off. For me boeing right now is very random. A simple reason why. 40 higher, before the latest news came out. It was trading 390 four weeks ago. I had to do with a big drop. The numbers were not very good. I hearing a lot of people talking about february and march of 2020. Ive been staying away from uncertainty. Get a trade out of it here or there. It is in a bear market right now. Im taking a powder. Charles i think one of the buy signals, not necessarily the plane will be up. There would be one major regulator that will give it an okay. Everyone is assuming that is the faa. Then the rest around the world, these other regulators can chime in. Once they get stamp of approval from the faa, i think that could start a buying stampede. I agree with you. We bought boeing mopped of this week. We watched it trade down instead of the 320s a couple months ago, we didnt buy it, watched it move right up as gary pointed out to 390. The fact it came down here was a gift. If you look out six to 12 months, its a company with a lot of demand out there. This wont be a longterm issue for the company i believe. So we bought the stock. Charles i want to broaden out, talk about the unpinnings for the earnings and at least the american consumer. Chipotle is down. The numbers were mindboggling. Samestore sales up 11 . Mcdonalds hit yesterday. American sales up over fours . This company is not wellknown. I want to point it out. Lithia autos. The reason i want to point it out, gary, auto dealer, sales up 4. 6 . Used cars up 14 . They told us autos were dead. If theyre selling cars in this environment, that really to me suggests this is a very powerful american consumer. Let me give my good buddy charles, props on that. You mentioned that stock weeks ago. Lithia motors had big, big numbers. I think the consumer is in decent shape. My big worry the amount of debt, worry about that coming back to haunt things eventually. I think so far, so good. Overall market i continue to believe were in a stalemate right here. You have growth in a bear market right now. It is not just bearish. Growth is going in a bear market. Value is where the money is flowing right now. So you will at areas that werent working are now working. You have got financials, transports, some of these retailers. You mentioned that. Carmax is in that group also. I believe, oil and commodities look like they want to get going. So half of the market dead looks like it woke up. I think the fact that the fed is now in qe mode, which the market loved for 11 years, gives market a chance to get out of here to the upside. Charles right. I havent seen it yet. Charles mike . I would echo garys points but i would look at it differently. The fact that the consumer strong, earnings are strong enough, i think people will come into this market. I think there is a lot of buying opportunities out there. The fed is accommodative. I look money rotating as you point out financials as a positive thing. Money not coming out of the market. Moving into different areas. Charles one equity sector to another. Doesnt sit on the sidelines . Big tech which has driven this market last several years. Positive earnings, new money coming into big tech. Here is the thing. I had a big score today. Im in winnebago. I like it. Charles sort of contrarian. I love contrarian things, home billers, but are these names big enough, can financials, materials, industrials, can we really without big tech . Big tech has to be in the mix, right . I think it does. Two things, consumer being strong, speaks to winnebago, a lot of secondary type names. But for the overall market to move to new highs, flat earnings on big tech might be okay. If big tech disappoints were not hitting new highs. I have never seen a big bull move in the market without technology stocks. Im going back 25, 30 years. So that is going to be imperative. Charles right. Let me say this, earnings are not that great. I think this is if he ral reserve market right now. Theyre at it. Were still in stalemate mode. Charles you both made the point. Market reflects that. Were near alltime highs. We cant break out, growth names, tech nails, still have not given us the oomph. You guys give us the oomph. Catch gary on bulls bears 5 00 p. M. Eastern time right here on fox business. Capitalism versus socialism. You heard it before, a Common Thread in politics, even in business itself. The Business Roundtable putting stakeholders, ahead of shareholders, public ahead of profits. The head of the chamber of commerce acknowledging the flaws of capitalism. The fundamental challenge we have preserve the ability of Nations Companies to thrive under free and fair capitalism and acknowledging the shortcomings in the system. Joining me now former reagan economist art laffer. Back in the day, about six months ago, the definition of businesses were was make money for the shareholders. That is all changing. I dont think so. I mean i think when they put out their 10qs and 10ks theyre looking at bottom line all the way. It will move the markets and discipline the ceos and the administration of companies precisely. You know, they talk about global warming. I dont think that will have impact on share price or retaining of a ceo. Charles this morning when the hearings began with zuckerberg, the first question out of the gate under Maxine Waters was diversification. He said he agreed they had been weak there. He made a pledge, five years, 50 of that company would be women or people of color. You know, so, i understand that these businesses often give lip service. Weve seen corporate virtue signaling, like getting rid of plastic straws. You think there is so much pressure shun on these folks, art, but could the social scoring on the companies matter more than pe ratios. I dont think so. I dont think it is even close. I remember in the 50s and 60s, all sorts of social issues came up in more investments and stuff. I dont think that takes over the place of bottom line profits. Now of course everyone understands they dont want a company that is immoral, that does things badly. Clearly that is why we have laws. Why social pressure. But within the confines of legality and normal good morals, i think companies should be worried about their profits and of course you should hire women when women are better for the job. That is the way it always should have been, it wasnt, but it should be now. Charles well, some who are still clinging to the idea of traditional capitalism you know, like youre arguing here saying the essence of it means youre always doing the right thing because if youre not, people arent going to buy your product but you know what . That is the it sounds right on paper. We get the occasional scandals. Were not sure what is going on. Who you much malfeasance might have been involved in the 737 or johnson baby powder products. These things resonate with the public, they resonate with politicians. They resonate with everyone. Every business decision that is made is not correct. Even in a free market democratic capitalist nation where you have lots and lots of c place. Some of those mistakes will be deliberate. Some will be the question is, is this market system that we have better than any alternative you can think . I think it really is. If you look at this country, would you like this country run the way we run our department of Motor Vehicles or the way we run our post office . I dont really think so. Charles yeah. What youre saying is, do we make mistakes with capitalism . Of course we make them all the time, charles. People are biased, bigoted, people make bad decisions people take bribes. Capitalism provides less of those transbreathses than other systems. That is why we love capitalism. Not because it is the best of all possible worlds but better than any alternative we come up with. Charles you had me at department of Motor Vehicles. I was there for two hours. I go for speeding ticket. They say you have a ticket from 1991. [laughter]. Im saying to myself, do we want that is shock, charles. Charles from 1991 in florida. How can you keep your position on fox with a speeding ticket . Charles from 1991. Expression against the laws, im teasing you. Charles i got to tell you, sitting there for two hours. There is no way, no way we can give our entire medical system over to the government. The people were nice. The system not so much. Art, always appreciate your wisdom. Thank you. Thank you very much, charles. It is fun being with you as always. Charles same here. Facebook Ceo Mark Zuckerberg he is about to resume the testimony i was talking about. Lawmakers are grilling him on libra, alleged conservative bias, Everything Else in between. Aoc even taking to twitter to solicit questions to ask the ceo. Were going live to capitol hill with the latest. Shaquille oneal breaking from the nba to defend the Houston Rockets general manager on that hong kong tweet. Of course some are saying he also took a shot at lebron james. Well have the comments later in the hour. I get it all the time. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. Its been reported that theres a cyberattack on business every 39 seconds. Ouch. I dont even want to think about it. Comcast business has a solution. We go beyond fast with a cloudbased Security System that automatically updates, so you always have the latest protection. Phishing. Malware. Risky sites. It can help block all of that. Its one less thing for us to worry about. Comcast business securityedge automatically protects all the devices on your network. Call 18005016000 today. Here, hello starts with hi mple. How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. And now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles Mark Zuckerberg in the middle of a marathon testimony hearing on capitol hill. He is trying to convince lawmakers to let facebook into the cryptocurrency business. Hillary vaughn with more. Reporter charles, part of his argument today, he thinks if they are allowed to develop this Digital Currency and the payment platform that would roll out globally, he thinks they can bring in 14 Million People in the u. S. Who currently are unbanked, do not have a bank account and millions more globally. He thinks that would be a good thing, but he is having a difficult time today convincing lawmakers that is really the reason why he wants to roll out libra. But for the richest man in the world to come here to hide behind the poorest people in the world, saying that is truly trying to help, youre trying to help for those who dollar is not good currency, drug dealers, terrorists, tax evaders. Reporter zuckerberg is not sure libra will work. He says they have opportunity to get ahead of china and the rest of the world, when it comes to developing a Digital Currency that would apply globally. He also says that the u. S. Financial infrastructure here in the u. S. Is outdated, so that is part of the reason he wants to do this. He says he is promising to the delay the rollout of libra until he signs up from every possible regulator involved but a lot of lawmakers have been skeptical of that promise still. Charles . Charles hillary, thats been great so far. Thank you very much. Appreciate it. Can a company like facebook, given numerous red flags comes to privacy be trusted with cryptocurrency, to transfer money around the world . Lets ask deirdre bolton. She knows Silicon Valley as well as anybody that i know. We need a road trip out there. Get in the car and go, take a while. Listen there, is only a few American Companies that can really pull this off, right . Facebook i do think is one of them. Theyre obviously facing a lot of headwinds and pushback. If you think of others that could offer call it a stable coin or different kind of currency, apple, amazon, and maybe walmart. Just as far as reach and kind of the infrastructure already being there. And that is for u. S. Only although apple and amazon quite capable of doing the same thing overseas. I like what hillary said about the unbanked. There are 1. 7 billion people in the world who are unbanked but of those people, 2 3 of them, while they dont have bank accounts, they do have mobile phones. So at some point this is a logical evolution. That we heard from Mark Zuckerberg himself saying you guys hate me, will never happen at facebook because you think i have made tons of mistakes which is true but at some point someone is going to do this. The way zuckerberg tried to set it up i will give him credit. I dont own facebook. Not a huge fan i admit of a standalone product. I do like instagram better. He tried in his own way even at the moment he is at the one yard line, by setting up libra in switzerland. Charles one yard line going 99yards or one yard for touchdown . At 99. He is at the beginning, the person who is running libra all said the same thing. We know this is chapter one. Well switch to literary illusion. Charles im surprised the democratic congressman hit him that hard. Microloans around the world, nobel Prize Winners with the notion of giving people getting capitalism. I am not a champion for facebooks cause but i would love to see American Companies doing that. You might get a shoutout of appreciation from Mark Zuckerberg. That is what he is trying to say, to congress, at least if you hate me, at least im american. If we dont move the ball forward in this domain, china will. That is one of his bigger argument points, take it or leave it. If we dont innovate in this area someone else will. More than likely will be china. The to your whole point, surgeon hemisphere, look at the globe, tons of people are sick of crazy inflation or ridiculously corrupt governments. They would rather work out peer to peer what value of item or service is worth. Charles deirdre, absolutely. Sure. Charles fox business alert for you. Google achieved the impossible, quantum computing breakthrough in the scientific journal nature, the quantum processor complete ad calculation in a few mints that would have taken a traditional computer thousands of thousands of years. Google claims quantum supremacy, ibm says google is wrong underestimating the conventional super computer. Charles were following works on capitol hill as they question Mark Zuckerberg throughout the hour. Shaquille oneal take as powerful stand and defends free speech and in the process give as serious jab to lebron james. The comments you need to hear next. Of words. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Now you can, with shipsticks. Com no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. Sending your own clubs ahead with shipsticks. Com makes it fast easy to get to your golf destination. 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