Even when they say its not, it is always about money. Melissa despite a job Market Recovery after junes positive jobs number, walmart ceo bill simon says consumers are not much better off. Theyre adapting by spending less. What will it take for consumers to get enough confidence back in the game here now . Fox businesss own tom sullivan, barrons Senior Editor jack hough and wall street journal simon constable. Tom, do you agree with this . Yes, because the Consumer Spending has been going on has not been done by most people. It has been done by top 5 . They have the money. Theyre out buying things. Things wear out. They go on vacations. Everybody else, we all know that the middle class income is down and continues to go down. Melissa yeah. No, it is not the middle class and thats walmarts customers. Melissa zoom mon, why do we want people going out spending all they have . Simon . 66 and 70 melissa maybe that is not healthy. Maybe that is how we got in the mess first place . Maybe that is why we houses as piggy banks. Highest standard of living by far than anywhere else. It will get worse. If the fed has its way, higher inflation and not wage growth, people will be strapped for cash and spend even less. Too many of walmarts customers look like walmart workers. They are in jobs paying 8, 9 bucks an hour. Amazon getting a free pass from wall street to operate break even. That is difficult for walmart to compete on price. Melissa thats a great point. People spending on back to school and 4th of july and it back in between. Theyre making it count. Is this new way of being that can stick when things get better . My fear, people are going back, were seeing signs of that, consumer debt. Melissa thats what i mean. If you cant buy it, because i dont have money in the bank account you put it on the credit card. Melissa that is how we got into this mess in the first place, one of the reasons. Bump in the road for tesla. The company is struggling with lagging sales in europe, now being sued in china over its name. A savvy chinese businessman, registered the tesla trademark there first. Investors are concerned that tesla said it resolved this back in january of the also, elon musk really talking about fact that china is where the growth is coming from. Youre laughing, youre snickering . Kind of a frivolous thing but i think for investors right now, tesla is a classic case of a stock that is priced for perfection. I think there is too much risk here. It remains to be seen whether this company can scale up battery production in a way that can bring down its costs. It is very difficult to achieve economies of scale with batteries in particular. Im not sure profits will be there to support the stock price. I think what will happen this company may or may not break the trail and having a hard time doing it f it does, Big Companies with big Capital Structures come in and take market share because they can move fast. It is very much out there. If it fails, people will just such a cool car. It is such a cool car. If you ever seen one up close, get in one, theyre fantastic but its a toy and it is a fad. And they wont break through. Melissa i dont know that its a fad no. Melissa elon musk factor. He seems to be solving he is iron man. He is living off of subsidies. He is living off subsidies for anything and everything he can come up with. Melissa okay. Well see. Did i not say this is going to happen . New York City Police arrest two people for flying a drone dangerously close to an nypd helicopter. Youre our pilot in the group. This is the big danger. We talk about danger from birds. If you have sort of any idiot with a drone out there flying it. In this case over gwb. George Washington Bridge here in new york. What do you think . First of all the elevation for helicopters over the hudson river by the george Washington Bridge is very, very low anyway. The helicopters, this is a danger. Ill tell you, if i may take a swipe at government. Melissa okay. Where is the faa on this thing . This technology has been around and it is exploding. People from amateur to professional, to news companies, you name it, are flying these things. Im afraid there will be an accident. I think faa had better get their act together. Melissa theyre getting in on it though. I know that lots of Real Estate Brokers are out there using them, and getting warnings this is against the law. They could pay a big fine. They used to be called toys. These were toy aircraft. Melissa but theyre not. Used to be called that. Used to have like car on the ground but goes in the air. No one got arrested for that. S. Was it 800 feet. That is quite a long way. Melissa the fear now everybody is getting them. Theyre using them for commercial purposes. Talking my motherinlaw is real es stay broker. She spent 3,000 as to get one to put tremendous pictures on website. Everyone is doing it. It face nominal marketing tool. I drive in this city. I worry about the ability much my fellow new yorkers to operate their cars. Drones really have me frightened. Flight. Wow. Melissa elon musk have anything to say about it how will a drone affect your car . I dont get it. Im not a regulation guy. Im against it. But they regulate the sky now. They better start figuring out a way to register these drones so we know who they are and where they are. Melissa everyones got one. My household does. Crumbs as crumbled before our very i. C. E. oh, no years of crummy sales and dropped from the nasdaq this month, they shut off ovens and closed up shop for good. Crumbs notified employees on monday they close doors at end of business day . There is bigger trend for viewers to Pay Attention to. Melissa okay. Companies with a lot of exposure to sugar are struggling right now. Look at soft drinks. Companies that have exposure to meet processors theyre all doing well. Melissa how about really dumb companies that make just one thing and get it on every corner. Suddenly publiclytraded which never made sense. Cupcakes, yes. Series of books and things come out, talking about how bad sugar is for you. I worry about even Bigger Companies have too much exposure. Melissa on my block there are two cupcake stores. One on either end. That is when you know it has gone insame. One cupcake and youre halfway down the block. Wow, i doesnt want to walk all the way back you by need another one. No barrier to entry there. I dont care where cupcakes are made. No branding will work. Melissa magnolia cupcakes are better than crumbs. Whoa. Melissa they were really now that crumb has gone out of business. Melissa i dont know know. They were right down the block and still come to midtown to get magnolia. There you go. Today marks 125th anniversary of wall street journal, what better way to celebrate with oped from tailor swift. Eternally heartbroken pop star about her unshaken onoptimism from the Music Industry because. I wont pick on you because it is your newspaper. You make this lovely collectors edition. You have all kinds of things on it and taylor swift inside . She is saying such brilliant things, music is art and art is important and rare. Important and rare things are valuable. And valuable things should be paid for. Are you kidding . Please. Im speechless. What i would say there is lot of good sense. Melissa really . You shouldnt steal music. Of course you want her to write for the journal. It has been around for a while. Nice photograph. Melissa are you allow mike cat to do that . No. Cat is not so much of an artist. Not upbeat about music business. She is only one selling records. The harry potter saying well, Book Business is not that bad. Melissa every concert she comes out so insincere. I like taylor swift. She is role model for young women. Melissa come on she has success in her business. The only problem is, tomorrow i think wall street journal will run an editorial written by a travel agent and about how things are changing. Melissa that is slam on travel agents. Theyre out of business. Thats what im saying. Industry has changed. Melissa i just, you know, anniversary issue. Taylor swift . Nobody else is available . There were a lot of people available. That seems like a reasonable thing to say. If youre in the music business, talk about the music business. What do you expect her to write about . The automobile business . Shoe of. This is what she knows. She is writing from some knowledge. Who buys an album anymore . Melissa very valuable. The simon, we loved it. Fabulous oped. Im in trouble now. Hillary clinton getting love from the street. Wall street, that is. Why big banks are pinning hopes on hillary in 2016. A dream job for couch potatoes. Netflix, on the hunt for professional binge watcher . Are you up for the challenge . I know i am. Smart money coming up. Melissa breaking news right now. Tmz is reporting that Rosie Odonnell is officially rejoining the view. The official announcement is expected shortly. Whoopi goldberg is only other anchor remaining on the show after general any mccarthy and Sherri Sheppard were let go last month. Money is flying around the world, starting in the u. K. With netflix is on the hunt for a professional binge watcher. What a great job the worlds luckiest new hires will have to comb through hours of streaming shows, poor thing. Including backtoback seasons of orange is the new black, my personal favorite and toddlers and tiaras. The role is professional one. The tagger assigns specific content labels for each episode easy for viewers to know what theyre looking for. Love it. Over to russia, chinese tie cons want to get panama canal a run for its money. A group wants to finance one of the most Ambitious Construction projects on earth. Covering nicaraguas coast, 170 miles. That is twice the length ever panama canal. They think they need new waterway to handle larger container ships. In okinawa where a giant typhoon left a trail of devastation. The typhoon came with gusts of more than 150 miles an hour, tearing down many wooden structures. The storm is heading over to the east china sea. Wow, look at that video. The dow drifting further away from 17,000. The nasdaq sinking more than 1 . Lets go to Nicole Petallides on the floor of the new york stock exchange. Nicole, what is driving the trade lower right now . Were looking to the downside. There was a lot of talk obviously about Interest Rate hikes and when those are moved up. We heard from jpmorgan and also goldman sachs. But tech, today, melissa, leading the way to the downside. Nasdaq down 1. 1 on heavy volume. You dont want to see heavy volume with conviction. That means theyre really selling. Were watching airlines very closely today. This particular group has been under pressure. Delta is down 5 this week. It has been down since last week since we talked about the june number, june traffic and revenue numbers. Traffic numbers though seemed a little bit higher it was a disappointment overall and really weighs on the group overall. The question is also about business spending and that business spending, though on the rise slightly just not as good as expect the. Were watching some other names in correlation. Trip advisor down 5 . Back to you. Melissa nicole, thanks so much. Hillary clinton finding herself with some strange bedfellows as the 2016 election draws closer. Reports are indicating that wall street is either to back clintons president ial bid seeing her as their best hope for a friend in the white house . But potential challenge from senator Elizabeth Warren is forcing clinton to walk a fine line with the financial sector. Here with Washington Times online opinion editor and Fox News Contributor monica crowley. Tom sullivan is back as well. Wow, even more titles for you with all your free time. Another job for you. Congratulations on that. Thank you. Melissa so you are sitting in the catbird seat for this battle that is coming up. Very interesting, to see hillary sort of, cozying up to wall street. Are they buying it . You know what is interesting . Because last couple years weve seen a surge in populist sentiment on both side. On the right it is animated with the tea party and on the left with occupy wall street and gave rise to candidacy of Elizabeth Warren which you also mentioned there. On the left hillary has a real problem because for years going all the way back to her husbands presidency, she and he have had a very tight relationship with wall street. Wall street essentially trusts the clintons. They want to support her going into this. She is walking a very fine line. Yes, she wants their money and yes, she wants their support but she cant afford to alienate occupy wall street far left base of her party. Melissa we saw what happened to eric cantor when he wasnt aware of, throw the bums out. If she tries to be centrist, im friend with wall street thing it, could really backfire, no . Everybody who has been a friend of wall street has been elected or vice versa. It works in tandem. Our friend Charlie Gasparino written about the greased palm between washington and wall street, has been going on for decades. Doesnt matter, democrat or republican. Wall street, there is vacuum. There is no republican leader. So they have hillary, who, i am, i still think she wont run. I still think that shes going out there and getting these big fees because, they can, she can get them because of the fact she might be in the melissa you say wall street picks winner. I think vice versa. They pile in the money at last minute on person they think will win. Remember they put a lot of money behind mitt romney and a lot of money behind president obama. As soon as it looked like president obama they were his biggest friends. They come in and finance the winner. What theyre looking at, they will play both sides regardless hot republican melissa Elizabeth Warren though . That is tough one. But that shows you that since 1968 the democratic party, melissa, really gotten over taken by the far left. Theyre looking at Hillary Clinton saying maybe this is our last best, democratic hope before the party is really overrun by Elizabeth Warren bitten the hand would feed her which is wall street. Melissa one more from my smart money and to ticks example. Tmz is reporting that Rosie Odonnell officially returning to the view. She may have some company. Sarah palin hitting campaign trail once again. She is looking to replace Barbara Walters this time though, not president obama. The former governor and current Fox News Contributor by the way, stumping for a spot on the view. Telling hollywood reporter, maybe the show like that needs punch reality and voice of reason from americas heartland to knock humble sense into their scripts. Someone who is willing to go rogue. Monica, what do you think . Would she be good . She makes a great point particularly about the show. They had elizabeth hassleback, our colleague at fox news. They had a few solitary conservative voices. They have not had a consistent, strong conservative like sarah palin the especially since Rosie Odonnell is pretty severe leftwing partisan. Whoopi goldberg is at left. In order to balance at out to attract as many women, sarah palin or me. Im available. Melissa are you available as well . Yeah, absolutely. That is name of the game. To get the women because, youve got, unless you can message to them. And republicans and conservatives and far right have had a terrible job of messaging to women, this would be a, i would love to see sarah palin on there she would look, with the cast she would look like a voice of reason in melissa i think really fun to see her next to rosie hard to do a show like that every day. Its a big commitment. You expose yourself. Speaking hour after hour. Does she want to move from alaska to new york . Melissa all about money, right . At end of the day it is always about money. That is how at that would be solved. Thanks, guys. Legal Recreational Marijuana hits Washington State today. Watch out. They are already running low on supplies. That is a big surprise. A live report from seattle coming up. You snooze, you sue a baseball fan firing back after what he calls espns unending verbal crusade after he was caught on camera napping. Poor baby. Do you ever have too much money or sleep . He will sue me now. [bell rings] time and sales data. Splitsecond stats. Its so close to the options floor, youll bust your brainbox. All on thinkorswim, from td ameritrade. Really. So our business can be on at ts network for 175 dollars a month . Yup. All five of you for 175. Our clients need a lot of attention. Theres unlimited talk and text. Were working deals all day. You get 10 gigabytes of data to share. What about expansion potential . Add a line anytime for 15 bucks a month. Low dues. Great terms. Lets close. Introducing at t mobile share value plans. With our bestever pricing for business. Thats why i always choose the fastest intern. R slow. The fastest printer. The fastest lunch. Turkey club. The fastest pencil sharpener. The fastest elevator. The fastest speed dial. The Fastest Office plant. So why wouldnt i choose the fastest wifi . I would. Switch to comcast Business Internet and get the fastest wifi included. Comcast business. Built for business. Melissa a 10 million lawsuit destined to draw a bronx cheer. Espn cameras caught yankees fan and drew recter napping during nationally televised game against the red sox. He is swinging for the fences, naming Major League Baseball, espn and two commentators in his defamation lawsuit. Sports attorney Steve Olin Nick joins me and jack hough joins me as well. The guy fell asleep. They went to town on him. It was pretty funny. It was all over the internet. Called him sleeping beauty. Now he wants 10 million he says mental anguish. He is used car salesman. His reputation is damaged. Does he have