Process in the peach state after charges were posted online while the grand jury was still meeting yesterday afternoon. We will have the very latest all morning long. Secondquarter retailer needs are out, home depot is hitting the tape, the stock is moving fractionally higher, were you to get july retail sales, that comes out at 8 30 a. M. Eastern time. Everything that you need to know with the focus on the consumer and of course inflation and the pressures. Take a look at futures, it is read across the board will see if home depot can change the story since they are at dow component. The dow 148, nasdaq 58 change in nasdaq down by 18. Lets look at european markets, read across the board, the cac 40 and the dacs all squarely in the red. Into asia overnight, markets mostly that were there. The hang seng down better down 1 . President biden slammed for largely ignoring the devastation in maui after wildfires ravaged the island. Meanwhile he is planning another vacation next week. We are going to talk about it. Joy to the conversation all morning long, Fox Friends First cohost todd piro and jessica maloof and, mornings with maria is live right now. Cheryl right now we have home depot earnings hitting the tape moments ago, earnings coming and betterthanexpected 465 is the earningspershare, the street was looking for 445 that is a 10 fall if you do the yearoveryear comparison for home depot. As for revenue, 42. 92 billion. That is just above the estimate. This is a double beat for home depot. Were getting taken to the numbers, but the company basically saying that they remain positive on medium to longterm as far as the outlook for homeimprovement. They do say that overall there has been some pressure in bigticket discretionary categories in the second quarter. Well get a dig into these numbers in a moment. It looks like sales for the fiscal year down to 5 which is in line with the expectations again, this is a dow component. Home depot will get a dig into the numbers a little more coming up in just about ten minutes from now. 15 billion Share Repurchase authorization from home depot. Ill go to the guidance of the commercial break. We are going to go onto the big story we are following this morning. Grand jury and Fulton County georgia indicting former President Donald Trump, and 18 of his allies late last night on 41 total criminal counts in the 2020 election case, this is a fourtime the president has been indicted and the second time this month hes been charged with 13 counts in this case including georges antiracketeering law, conspiracy, false statements and asking a public official to violate their oath of office, georgia District Attorney fani willis giving trump and others in the indictment until august 25 to surrender. Joining me now former Top White House associate counsel, its great to have you here. Your initial reaction, i think the biggest eyeopening thing in all of this is the language of the criminal enterprise in the use of racketeering laws in georgia to bring down the indictment against the former president. Fani willis, the District Attorney and Fulton County considers herself an expert in georgia racketeering law because she used in 2015 successfully against a bunch of teachers, this is something a dog with a bone excited to use it everyone knew she was going to use it and when you read the indictment it is the kitchen sink mark meadows asking for someones phone numbers and emails i have nothing to do with trump or what trump asked, its people doing things in the rico statute basically says im going to take all of those things and pinned them to the group and pinned them to this criminal enterprise. The criminal enterprise involves donald trump. In this case, shes not really being specific about what is overturning the election what is it, whos doing what and whether donald trump had knowledge of participating. It is random act by random people that are all being pinned on the former president. Cheryl i think the big question, there are 70 defendants in this including mark meadows, former chief of staff on down, Rudy Giuliani, jannah ellis, the thinking here is that you get a charge all these extra people and hope that they will testify against the president and for the strength of the case against him. The opposite approach, jack smith in the d. C. Case where he only went after trump and did not name anybody else and people were wondering if that is the strategy, people want to stay hidden, mark meadows name is not listed at all and here is the opposite im going to name you may be you will flip. I cannot say that Bonnie Willis has a strategy that is legal. I can say that she is a strategy that is political. She is a household name, shes running for reelection, her new election just went live this week. Its a strategy of all of the things of the indictment a good legal strategy, that will remain to be seen. Is it good for her in jetting uppercase, it is great for her in that sense. Cheryl the former president on true social saying why did they indict to a half years ago because they wanted to do it in the middle of my political campaign. Let me ask you about this Fulton County superior judge robert allowing cameras to take pictures and videos of the county clerk as the indictment was delivered, it is not clear now as of today if they get to be allowed and for his arraignment or potential trial by the way she saying six months which seems quick to me. The federal judge in d. C. And south georgia ruled against the use of the cameras in the cases, what is your thoughts on this . I am not in favor of cameras. I know the argument in favor, you dont want this or statements to come out of the courtroom and if youre republican you believe something, your democrat you believe Something Like kevin archer testifying, everybody ends up believing what they believe. You really want to see and show the people. I understand the argument, the flipside when you allow cameras in the courtroom is no longer about the truth and no longer about preserving the due process the multiple defendants here. Instead it showmanship and the attorneys make it a name for themselves. You see this in the White House PressBriefing Room were especially during the Top Administration you would have a lot of reporters trying to make a name for themselves by really going after sarah sanders, Kayleigh Mcenany because they wanted themselves to be a household name. That is purely a result of cameras and i dont think it is good for our legal process, i dont think it was good for the political process to turn something very serious like a president ial briefing into a clown show. Cheryl thank you for being with us may mailman imbricated on the news. These indictments handed out late last night. We are getting the chance to read through it all this morning. We are just Getting Started this morning. We are going to recap home depot secondquarter earnings, they had a double beat, stocks moving a half 8 higher. We get a preview the retail names that we be getting this week in the retail sales out today at 8 30 a. M. Kamala harris tendency to burst out laughing, giving birth to a new internet acronym. That is making a buzz, dont miss a moment of it, mornings with maria, live on fox business. You got this. Lets go. Gobble gobble. Ive seen bigger legs on a turkey rude. Who are you . 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We just got an order from dinosaur, colorado. Start an easy to build, powerful website for free with a partner that always puts you first. Start for free at godaddy. Com cheryl lets take a look at futures. We heard from the dow component, home depot, the stock is moving higher but the dow overall is higher by 82 points, nasdaq down 75 as well as s p under pressure. Home depot has pulled back a little bit. It was up more than 1 with the earnings cost, they did report a double beat on earnings and revenue, now the stock is going negative. They did give us the samestore sales numbers, down 2 for the second quarter. That was actually a little bit better than expected. The Company Announced a 15 billiondollar Share Buyback plan. The estimate we were to see samestore sales down. How percent, you a u. S. Down the and a quarter percent, little bit better a little story thats bringing joel schulman, i would get your initial reaction to home depot. Home depot has been a stock which is been flat all year but last month is outperform the market and traditionally this is a stock since 1983 its made profits every year, very few companies on the planet that made profits every 40 straight years. It peaked in 2022 or 2021 during covid but this is the stock we gotta remember when home sales go down in inventory is way down from last year, the actual sales of houses are down about 15 from last year. Generally when people are not selling their homes they are fixing them up. I think home depot is going outperform the rest of the s p for the remainder of this year. Cheryl they did reaffirm their guidance, i was digging into that, they say small scale projects are still trending well, nobodys after getting the kitchens, they are fixing up one bathroom in the hospital, Something Like this. I made that up. Lets talk about target, t. J. Maxx, walmart, there to be coming out and really get july retail sales, that is at 830, heres the expectation for that, month over month sales and exxon auto rising for tens of 8 , what you expected for retail sales lifter reminder viewers these are not inflationadjusted. Thats exactly it, would you look at the numbers the cpi has been running point to,. 3 tops, theyre performing that inflation. That is important number, still outperforming the market on inflation adjusted basis, this is real growth. The economy has been really resilient despite the fact that many are expecting us to be a soft market or a recession the market shown to be resilient, very low employment and this is good news for the markets. If the retail sales come in soft they might be better news for the market because it may anticipate that that will hold off in any future rate hikes and that could be viewed as a bullish science. It retells disappoint it could be retail for the market. Cheryl expectation were not get to see another move in september by the feds. The s p 500, the nasdaq closed higher last night. It was chip stocks and tech names. Investors were pummeled by tech by amazon, microsoft, nvidia, are we supposed to be looking at tech again i dont know if i ever shied away from nvidia to be frank with you i heard were in the second inning of a stretch with nvidia. My company entrepreneurs weve been nvidia with 2005, since 2014 this is a stock that went from 5 to almost 450, its gone up 90 times. In under ten years. This is a star performer, are they overvalued, since the last Earnings Call they are relatively flat, they jumped most 30 the day of the last Earnings Call last week. This is a stock that is ground beyond and a little elevated. We have benefited, the last week or two have been soft with rising interest rates, tech stocks in particular especially those stocks that are not making profits. We are bullish on tech even though its been soft the last week and half or two weeks since august, august 1. Were still bullish on the remainder of this year. Cheryl it looks like there is movement in those names, just come allusions on sat with me in new york. I want to ask you with the tech stocks are much too thick Artificial Intelligence is playing a role in that . Quite a bit, nvidia has been leading that story, a. I. Is real, is making significant gains. The question weather is going to continue to rise, with all the bank accounts, five or six stocks that have led the market, the gap of the mega caps has been pretty wide it is actually narrowing and we expect that to continue to narrow as the benefits trip down. Were bullish on stocks in Many Companies right now especially in tech theyre able to expand margins, reduce the cost in their Gross Margins, the keeping Gross Margins hi, theyre cutting their costs and widening their profit margin, we think this is all related to tech and harvesting tech in a positive way. Cheryl and lots of different sectors, consumer discretionary, healthcare, todd piro my colleague at foxs onset with me and he has interesting discussions about a. I. Youre obviously a true believer in a. I. And the capacity for good i just look at the capacity for bad obviously the solution is somewhere in the middle. Are these companies at the end of the day accounting for the babad . When you say bad are you referring to layoffs . The Macro Economic bad but also civilization i guess thats really macro bad. Cheryl were all going to die according to todd. We hired a couple phds in a. I. The last couple of years to help us with me to do the portfolios and so forth. Generally we see this is a good thing in the broader picture many are concerned there will be layoffs related to this. When you interject a. I. Into your organization in a sophisticated manner it relieves workers from doing more menial task. I think onnet it is a positive or organization and im a believer and i think its more good than that. Cheryl joel shulman, thank you for being here. It was great to see you. We have a lot more coming up, President Biden takes the bidenomics plan on the road but even some of the countrys highest earners saith sending them to the poorhouse, were on that coming up next. If you wake up thinking about the market and want to make the right moves fast. Get decision tech from fidelity. [ cellphone vibrates ] youll get proactive alerts for market events before they happen. And insights on every buy and sell decision. With zerocommission online u. S. Stock and etf trades. For smarter trading decisions, get decision tech from fidelity. 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With our business internet, new and existing customers can get one year of unlimited mobile for free. Its our best internet. Powered by the next generation 10g network and with 99. 9 reliability. Plus one line of free mobile for an entire year. Its the mobile made free eventhappening now. Get started for just 39 a month. Plus, ask how to get one free line of unlimited mobile. Comcast business, powering possibilities. Wow, you get to watch all your favorite stuff. Its to die for. And its all right here. Streaming was never this easy, you know. This is the way. You really went all out didnt you . Um, its called commitment. Could you turn down the volume . Here, you can try. Get way more into what your into when you stream on the xfinity 10g network. Cheryl President Biden traveling to milwaukee, wisconsin to top bidenomics in the Inflation Reduction Act ahead of the legislation one Year Anniversary tomorrow. Bide