Facebook and apple are set to report quarterly earnings. Find out numbers here before it impacts your wallet tomorrow. Whether you own the stocks or not it will tell a lot about the economy going forward. Connell we have Fox Team Coverage ahead of all of that gerri willis waiting for all numbers on the floor of the new york stock exchange. Edward lawrence, at the fed reserve in washington. Deirdre bolton on the earnings. We start with you, ed. Reporter Federal Reserve cut 25 basis points off the federal funds rate. They did that the third time in a row. Based on Global Economic slowdown and trade uncertainty. Chair of Federal Reserve jay powell signaled this may be a pause in rate cuts that are coming here. The Federal Reserve, really market took off when i asked this question, how the Federal Reserve chairman answered the question. Just listen. We just touched 2 core inflation to pick one measure. Just touched it for a few months. We have fallen back, so. I think we would need to see a really significant move up in inflation that is persistent before we consider raising rates to address inflation concerns. Reporter he is saying no rate hikes until persistent inflation. Market likes news. Market is strong, Consumer Spending driving the economy, business invest remains slow. He point to the economic slowdown and trade uncertainty as a reason for that. The fed chairman says if you sort some of that trait uncertainty out, it may fix the problem. Listen. We have that phase one potential agreement with china which, if signed and put into effect could have an effect reducing trade tensions, reducing uncertainty and that would bode well we think for Business Confidence and perhaps activity over time. So that has, has the potential for being an improvement in the risk picture. Reporter two fed president s dissented for the third time. Kansas city fed president esther george, boston fed president eric rosengren. Both believe the fed met their mandates, stable prices and unemployment. It makes the fed rate 1 1 2 to 1 3 4. Melissa the fed heads try to make the tone as boring and low as possible. They must teach them that. Gerri willis on the floor. We talked about how this is volatile day but on a Federal Reserve day you would expect a bigger move in the dow other than 115 points. Typically jay powell tends to move markets big time one way or the other. Usually negative. So this was considered a positive. I have to tell you, traders on the floor of the exchange saying hey, that was a good fed outing because the Federal Reserve president said really nothing they didnt expect. So you saw very little move. Dow ending up 114 points. Meanwhile s p 500 hitting new alltime high. It had to beat 3039. Coming in at 3046. Very good indeed. Good news as s p 500 alltime high as you said. Dow winners for just a second. J j we talked about in the show last night, new tests of baby powder from a recalled bottle has no asbestos. That is very good news. It fueled the stock all day long. Closing at 2. 88 . Meanwhile mcdonalds partnership with beyond meats appears to be spurring gains for that stock. As you can see right here. And feign alley, verizon, announcing a multi partnership that is really getting attention for that stock tonight. So all in all, the big news today, s p 500, hitting alltime high. You cant beat that. Back to you. Melissa gerri, thank you. Connell Jonathan Hoenig joins us, Todd Horowitz as well from the bubba trading show. Were waiting for big earnings reports. Facebook, then apple a little bit later on but ahead of that, jonathan, what did you takeaway from jay powell today . Anything . The idea, i guess, certainly not raising rates anytime soon, right . No, looks to be steady as she goes. Data dependent what the federal lewded to. He is in a little bit of a sticky wicket. The market as we point out is at an alltime high. That is doing well. We had slower global growth. Connell let me interrupt this comment from the facebook earnings as we know them. The stock is up 2 as we seek. Revenue in the First Quarter looks at first glance to be a little better than expected at 17. 65 billion for facebook. It was supposed to be up 26 1 2 from last year. It is up even more than that. I think. Deirdre will join with us more on this in a moment. You will look at monthly active users, daily active users, also some ad revenue numbers. On monthly active users 2. 45 billion is right in line. Maybe a little better than expected, guys, todd, jonathan and, stocks coming a little bit off the highs. Todd, from where i stand here, now some of this, i didnt give you a earnings per share number yet. Well wait on comparing estimates. That might be better than expected but ill wait on deirdre. Going into the report how did you look at facebook, todd . I think facebook is, listen its a great company. They get all the free data they want from their users and use it in the market to monetize that data. Basically a money machine with very low costs to run that business. Connell yes, they are. I will jump on you guys again to go to deirdre. Well come back to have a little bit after wider conversation once we have all the numbers straight. I started to go through it, deirdre. Go through it again. Tell us exactly what we saw. I have a beat. A nonadjusted number, one you highlighted, connell, 2. 12 a share, compared to wall street expectations of 1. 91. That is a gain of 10 if you compare this quarter with last year. Revenue beating wall street expectations. 17. 65 billion. That was versus revenue expectations for 17. 37. You have increase of 27, 28 this quarter this year versus same quarter last year. So i think you started to allude to some of these estimates about how many people are using the product. As we know, i mean listen, brass tacks, people who dont like facebook, it is hard to argue with 2. 7 billion across facebook, instagram, whatsapp, messenger. I think broader strokes are, i wont say saturated in developed world, the growth is coming from other places. Waiting for a few of those lines as well. It does seem in fact saying 2. 7 of this summer. Youre right, melissa, seeing 2. 2 billion. Melissa instagram, messenger. That is the whole facebook universe. This digital ad business, growing and growing. They have plans to monetize instagram, whatsapp, messenger. Those are some larger themes. Im looking for the breakdown of certain figures. Of course im waiting for any headlines on some of these regulatory headwinds that they are facing as we know. Current doj antitrust probe. Current probe from the ftc. Dozens of states attorneys general. That news may weigh on the stock postmarket. Connell all good. Clear beat on revenue, clearly. More than 2 billion people using properties. Connell one thing, deirdre, i dont think well see yet, mobile ad revenue. I dont see it. I dont see it yet. Connell monthly active users, daily active users, facebook better than expected. Joined by lance ulanoff. We get so tied up in quarter to quarter and also all the issues facebook has as Mark Zuckerberg or maybe regulatory concerns that deirdre mentioned. On daily basis around the world, 2. 2 billion people are using facebook, instagram, whatsapp, messenger, every single day. Lance, what do you think, face book . Facebook is a teflon company. They keep saying they had a terrible 18 months. On earnings side they have not. I can see it is flattening out. I think back to the transition to mobile advertising. Mobile advertising now makes up 94 of their ad revenue. Its a company that really did such a fantastic job over time. You know, i dont think that anythings really going to trade for them, especially in the regulatory space. Maybe not even before the election. You can see everybody is busy doing other things. Mark zuckerberg goes out there every once in a while to say how hard he is working to make sure facebook is fair platform for all even when they occasionally allow faked as to run. Melissa are we ready for lyft . Lyft raising guidance, increasing revenue. Were seeing a few things cross. We want to confirm all details before we get to it. Connell well come back to lyft. Ubers competitor. Which reported tonight. Apple still to come. Lets stay, todd, on facebook for a moment. Interrupted you halfway through the thoughts when numbers were coming out. To deirdres point, pretty much everything so far looks strong here for all of facebook issues that seem to be in the news every single day of the week. Continue, todd . No reason they shouldnt be strong. They get free market and people gladly hand over the information and use it regularly. Where do you get a better marketing machine, very low cost, continue to market same people over and over again. Target the market with new systems that they are using . It is a money machine. Melissa yeah. Lets see, fox business alert. We have lyft right now reporting Third Quarter results. Gerri back with those numbers. Connell ready, gerri . Ready to go. Its a double beat for lyft. The loss much less than anticipated, 41 cents a share. The loss. Revenue beating by 63 , coming in at 955 million, double beat here. So good numbers there. Listen to the rest of this, pretty amazing. Active riders up 28 to 22. 3 million. Revenue per active rider 42. 82. Up 27 . They say they expect to be ebitda profitable. Q4 20. 21. That is not regular oldfashioned profitable. Ebidta profitable. Q4. The good numbers here. The stock popped after the close when they put out numbers, 6 . It drifted down a little lower since then. This is a food good report for them. More headlines before i go. Continue to see meaningful improvements in monetizaton and strong operating leverage. And their net loss for q3 264 million stock based compensation and related payroll tax expenses. Like every other Young Company paying their executives a handsome amount of money to stay on. Back to you. Connell gerri, thank you. A lot going on here at once. Almost you want to take a deep breath. That is not as bad as expected. We categorize company like lyft, losing money. They make a lot of money on revenue. One thing i want to say real quick is that, well probably have time to get into this in more detail in a moment, guys making headlines is not Mark Zuckerberg or whoever the ceo he have lyft is. It is jack dorsey who is on twitter saying theyre banning political advertising from their platform. Facebook is reporting its earnings. That is kind of an interesting statement to make. I mean well, it is kind of, seems like a slippery slope. If they will ban advertising are they also starting to look at all of the political speech going on there . Also the political speech that kind of seems like political advertising . But it is also turning a way a lot of money. That is a hockey stick growth going into the end of this year and next year. Theyre just saying no to that, to steer clear of what is clearly a controversial sort of mess. Connell i wanted to mention that. Well have time to put up tweets in a few minutes. In the midst of all earnings, that is coming out. We have to go to get a break in. Apple is coming up. Well get back to jack dorsey, everything else. Good stuff. Melissa that is a shame. I had a lot to stay on lyft. I thought we were doing more. Massive protests forcing chile to pull out from hosting the apex forum next month. What the move could mean for the u. S. And china ahead of a phase one trade deal . We are live at the white house with the latest. Connell plus we said apple is set to release its earnings report. Thats moments from now. Will it hold on to the spot as the most valuable Public Company . Im in cupertino, california. Apple set to report results in just a few minutes. Well hear from company executives, including ceo tim cook. What went right in the quarter, what may have went wrong. What is happening next. Ruggling actor, i need all the breaks i can get. Line . Liberty mutual customizes your Car Insurance so you only pay for what you need. Thats a lot of words. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. thud crash grunting whistle play it cool and escape heartburn fast with tums chewy bites cooling sensation. Tum tututum tums cooling sensation. Most people think of verizon as a reliable phone company. woman but to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. 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Connell so we told you about facebook and the stock price has, was popping higher after the earnings report. Now it sorry, thats twitter. Facebook popped higher after the earnings report. The joke that facebook reports earnings, twitter says no, wait a second we want attention for ourselves. Jack dorsey, appropriate enough goes on a bit of a twitter rant to make news. Deirdre bolton in the newsroom. That was interesting timing. No more political ads. Here is what jack dorsey tweeted out, ceo of twitter, essentially saying long store short, they are not going to accept, pull the tweet up on the screen, to follow along as well, no longer accepting political ads. We made the decision to stop all political advertising on twitter globally. We believe political messages should be earned, not bought. Why . He goes into a few reasons you see on subsequent tweet. This really does stand out to your point, connell, especially for what we reported yesterday from facebook with this open letter to facebook from 250 employees. Of course well keep in mind that facebook has about 35,000 employees. That said, they did make their voices heard saying that listen, we screen and Third Party Check ads from brands. Thinking for example, proctor gamble, from individuals, why not political figures . Facebook did respond saying, okay we understand the point. We welcome free speech. Et cetera, et cetera, but we will not be censoring any kind of political speech whatsoever. So it seems like twitter making a stand that facebook did not want to make, was clear about not making at least at this time. Facebook though, even if you dont like the stock, listen, they hit every single metric. They beat earnings and revenue. I want to highlight the Revenue Growth. 29 Revenue Growth this year be versus this quarter last year. 17. 65 billion. If you look how theyre doing it, a lot of it is what you were talking about earlier with your guests, this mobile ad revenue. They continue to execute on that. Im still crunching some numbers. Seems like they even beat their own internal estimates for that particular part of the business. If you look at monthly active users, 2. 45 billion was exactly in line. Daily active users, slightly stronger. 1. 61 was the metric. Every single metric facebook looking for, exceeding wall street expectations. Connell they still have political ads. They still have political ads and tons of scrutiny. A current probe, current doj antitrust probe, one from the ftc, dozens of attorneys general. Not as if this is one group. We wont forget either, they have actually already paid out a 5 billiondollar settlement with the ftc. They have paid a few hundreds of millions of dollars to the uk and the eu so, theyre not exactly untested. Connell no theyre not. Thank you, deirdre. Well be back to you. Melissa bring back lance. I want to talk more about the breaking twitter story with political ads, pulling them. We were talking during the break, looking for twitter ads. We were trying to figure out where we saw ads before. I dont even really notice them. The fact theyre pulling political ones, it is interesting. What are your thoughts . It is heart to notice them, ad promoting tweet, based on political campaign, who they want to see it. Definitely a moment facebook is look at this, earnings, jack said hold my beer. Say something really incredible here. You know, really what twitter is doing, taking spotlight off of it a little bit in area where Everyone Wants to look. Are they doing right thing, giving everyone amount of space . There is concern, what about tweets that read ads is there a fair share of voice on there . I dont think those request hes go away. Taking financial aspect out of it, taking that out of twitters hands does ease it up for them. Maybe they have a easier time in the next 16 months. Melissa that is a lot of money to say no to. I think it was going to be a hockey stick of earnings for those kinds of ads. You know it was really going to get intense over the next four or five months, the rest of the election year. This is a tough decision he. I cant imagine people who invest in twitter are happy about it. It is a Bold Decision by jack. I really want to see how it plays out. A lot of people wont notice the difference but the ad campaigns are probably going we just lost a tool. Melissa lance, thank you. Connell enough facebook, enough twitter. We have to get to apple. Its earnings are expected in a few minutes. Well have cant miss analysis for the portfolio and your tech habits coming up right here. Melissa right. It tells you so much about the economy. What is happening with apple . Who is buying new apple airpod hitting stores today. What other new gadgets will apple have ready for the Holiday Season . What is the appetite for apple out there . Well have that coming up. Connell on top of that, one of new york citys oldest newspapers, new york times, trashing one of the oldest steakhouses. Peter luger. It was a harsh review. Among other things, they complain that the sliced