I said, what are you talking about. Dont get down. You have one person to beat. Its Hillary Rodham clinton. [cheers and applause] maria meanwhile breaking news overnight another police shoot to go report, two officers were shot in san diego neighborhood, one suspect now in custody. We have the latest on this attack. In business this morning, facebook on the hook for billions in tax bill from irs, the social media giant is fighting back, weve got details. Technology earnings continue to roll in, amazon and tboogle parent alphabet showing strength in numbers last night. We will take a closer look. Its friday and matt damon is back at jason bourne. Franchise hitting theaters today, we are gearing up to be one of the hottest films of the summer time. Market this is morning indicating lower averages, dow jones expected to open 25, nasdaq fractionally lower this morning w. Le get a revision on secondquarter gdp this morning and reading on consumer sentiments. In europe mixed performances. They are due out later this morning. We will preview the stress test coming up. The Central Banks saying it will only expand purchases of etf. Stock fell nearly 2 and then recovered by the end of the session. Trading up one half of 1 in the nikkei average on japan. Crude nearing bare market territory. It is down 20 from the recent high. 3 quarters of 1 this morning. All the stories coming up. Joining me to talk about it fox business Dagen Mcdowell, jerry baker and democratic strategist julie. Good morning. Dagen it feels like the taj, taj,mahal. Maria what a week, jerry, how was it from your standpoint . Democrats pulled what they had to do. Bernie sanders crowd were making a lot momt ev durg llars bispee lasnigh so tres lotf dcontt. Theyame geth and t president did very well we understand, hillary workman like at best lets say last night but checked all the boxes. So i think we are going to see how the polls are in the next week, history shows the polls after both conventions are out, those polls tend to be pretty predictive on how election is going to go. Dagen it didnt measure up to michelle obama, Vice President biden and president obama. A lot of people have not heard her stump speech, a speech that she put in the microwave and tt dsic. T foine pattern of any campaign. The last two were about expanding to undecided voters. Maria a lot coming up today. Former florida con mang west joining us and Mike Huckabee with us, former director of Intelligence Agency lieutenant michael flynn. You dont want to miss a moment. We kick it off with hillary making history last night and targeting trump. Clinton accepting the democratic nomination, shes the first woman to do so for a major party in the u. S. Blake berman with all of the details on the Convention Finale in philadelphia. Blake over to you. Blake it was most certainly a historymaking night here in philadelphia last night for Hillary Clinton and she acknowledged it during her speech, describing the evening as a quote, milestone. She was introduced here but her daughter Chelsea Clinton who described her mother as a listener and doer. Every single memory i have of my mom is that regardless of what was happening in her life she was always, always there for me. Blake now once Hillary Clinton took the stage she try today position herself as the candidate who best would be able to tackle issues like wall street reform, comprehensive Immigration Reform and Global Warming and, however, most certainly a pretty big focus on donald trump who she described as divisive, one who pedals fear and most importantly she try today portray him as somebody who simply not ready to be commander in chief. Imagine if you dare imagine, imagine him in the oval Office Facing a real crisis, a man you can bait with a tweet is not a man we can trust with Nuclear Weapons. Blake maria, we are 102 days now until election day, this is the sprint to november and both candidates are back out on the road. Donald trump will make a couple of stops in colorado, Hillary Clinton will be here in philadelphia and shen she embarks on a bus tour throughout pennsylvania and ohio, 102 days, maria. Maria yeah, i tell you. Blake, thank you. We are getting close. Blake berman with the latest there. Joining us right now former democratic president ial candidate denise, congressman, good to see you, thank you so much for joining us. Good morning. Maria your reaction to last night . Well, first of all, lets start with some of the positive things. I think that its very power tfl muslim father who talked about familys loss of u. S. Soldier son, i mean, its very moving, people were in tears and then you move from that to katie perry roar, im A Katie Perry fan, im a fan. The moment she claims nomination is history. Those were positive moments and then you go to the moment that i found disconcerting is general alan who i have respect for but he took a speech in the direction, i thought of war and frankly theres a lot of people in the Democratic Party who arent ready to sign up for another war. Maria thats a good point. Bottom line, we are talking about the huge block of undecided and the independents out there, did the speeches last night manage to lure in that independent voter . I think its up for grabs, i dont think the speech although delivered very well and Hillary Clinton was absolutely at her best, i dont know that theyre going to start to swing independent voters, independent voters are looking for new visions for america, all the political attacks are not going to help candidates get that vote, independent voters are going to look at what are you going to do to america, uplifting vision to america and how youre going to deliver it. What about democrats . Do you think it was the theme of the week as you mentioned last night specially when general alan was talking but even when senator secretary clinton was talking, there was a loft there was a lot of discontent and a lot about what you mentioned being too warlike and the theme of the evening, the Democratic Party assuming, they were looking Ronald Reagan was in vote again, a lot of military, muslim father of an army captain that was killed. Is the party really to unit to Hillary Clinton . I can vote for jill stein, gary johnson the libertarian, is she going to bring democrats with her . I think shes bring most of them. The challenge is to bring all and thats going to be a tough order. I think the point you just made a moment ago about, you know, some of the party putting on the clothes of a more aggressive republican and i want to state again that there are a number of people inside the Democratic Party who are absolutely not ready to revisit continuation of the war that republicans took us into. For the life of me, i cant understand why the Democratic Party keeps beating the drum for confrontation with russia. Maria i know why. The whole dnc email leak, they very very effective in terms of turning that into conversation of russia hacking america. Lets run some highlights before, hillary speech lasted almost an hour and had plenty of highlights with support from her daughter. Take a listen. Dont believe anyone who says i alone can fix it. [cheers and applause] yes, those were actually Donald Trumps words in cleveland. Americans dont say, i alone can fix it. We say, well fix it together. Tonight we have reached a milestone in our nations march toward a more perfect union. The first time that a major party has nominated a woman for president. [cheers and applause] after all, when there are no ceilings, the sky is the limit. Every single memory i have of my mom is that regardless of what was happening in her life, she was always, always there for me. [cheers and applause] i am so grateful to be her daughter. Im so grateful that she is charlotte and adens grandmother. She makes me proud every single day. Maria effective . I did not hear she did not talk about the economy near enough. The wall street editorial page, clinton is promising better results from the same policies. In her first 100 days she wants to spend money. She wants the biggest investment and newgood paying jobs since world war ii. She talks about the government creating those jobs and not businesses. She hammered businesses for laying off people and using tax breaks, she hammered wall street. This is the same old, same old and people are disconnected from this economy and theyre angry about it and she did not talk to them. Well, you know, as far as the emotional content with chelsea i thought that was very moving lu list get into the economics. You have to make a connection between wars and the economy. We are spending trillions of dollars and thats not really positive for the economy because most of it is spent blowing things. The thing about jobs, we have to create jobs and one of the ways of doing it is to rebuild americas infrastructure. Now, it is true that, you know that the government if the private sector is not creating the jobs, where are the jobs going to come from . Thats where infrastructure programs come from. We also need to find ways to move the private sector again and this is where trade comes in. We cannot keep sending American Business or jobs abroad with trade deals which work against the american people. Maria so much emotional focus, youre right, again, it was sort of a Reinvention Convention but not enough about about the substance that people want to hear about. Look, we have a lot to talk about. Julie, we have to take your take on this. Congressman, good to see you soon. We are following the developments as well as of Police Shooting in san diego leaving one officer dead and one suspect in custody, more on that coming up and then the irs looking to get up to 5 billion from facebook, coming up what the taxes could mean for facebooks bottom line. We are on it. Gdp out today. Stay with us. Maria breaking news overnight. Cheryl one of two Police Officers officers shot in san diego has died and the second is in surgery this morning. The shooting at a routine stop and immediately called for help. The officer that died received multiple shots. At least one suspect arrested but not yet identified and police say they are no longer searching for other possible suspects. Police officers on edge. Outrage after silence and interrupted by shouts of black lives matter. Listen to this. Please help me in honor of all of american fallen officers with a moment of silence. [shouting] cheryl you heard the sh a lot of anker about that moment happening at the convention. Facebook could be facing a multibillion dollar tax bill from the irs. It could be on the hook for 3 to 5 billion for transfer to ireland in 2010. Notice came from irs two days ago, same day Facebook Says secondquarter profit nearly tripled. We should say facebook plans to challenge the notice, the stock hit a record high yesterday overtaking booker hathaway. The business reportedly debt free, profitable and already fully staffed more than 75,000 tickets were sold in about 150 countries. Top ticket buyers, by the way, number one United States, number two australia, the winner, maria, identified only as joshua from australia and those are your headlines, welcome back guys, i missed all of you. Maria thank you so much. We are thrilled to be back in new york. Coming up european banks gearing up to face their moment of truth, one bank can fail. What it means for your money. Coming up how Hillary Clinton is slamming trump to make a case for herself. Back in a moment eeeeohmumohweh hush my darling. dont fear my darling. the lion sleeps tonight. hush my darling. man snoring dont fear my darling. the lion sleeps tonight. maria welcome back, 51 of europes largest banks waiting results of stress test. There are concerns about the bank since it has 50 billion of bad loans on the books. Jerry baker this morning. This is this is one of the Biggest Challenges bluntly facing the Global Economy, certainly the european economy at the moment. The european Banking System is very, very weak, europe has had no growth of any sort over the last ten years, most countries in europe, italy has had zero growth for 15 years. The banks have tremendous of bad loans on the books and theyre not getting any better and the economy is depending on banks to lend. So these banks are a drag only economy. Many are positioned very weak capital. They dont have enough capital. We are going to find out today exactly from the stress test how bad they are. Theres going to be a big question about how this is resolved. Look, everybody focused on brexit a month ago and that was the big story and understandably it still represents a big set of question marks but the big story is how weak the european Financial System and the european economy and how much damage to the rest of the world. I dont think we are going to see it today but the state of european banks represents another liehman moment and tremendous threat to financial stability. Dagen if people read the wall street journal they would know this. On the front page you had a story in early july about the italian banks. This is from that article. 17 of those banks loans are sour, nearly ten times the level of the u. S. Even at the worst of financial in 0809. Maria we saw last week Deutsche Deutsche banks performance. Terrible results by deutsche bank. Theyre in such bad condition. Why does this matter to us . The answer is those banks will have to be rescued, several of them. The governments dont have the resources to rescue them. Theres a Huge Division between the Italian Government and the European Union as to how they should be rescued. The European Union has rules. It always comes back to germany and the way germany wants in the european wants, what the rest of the European Union wants. Germany wants to use creditors to fund the rescue of the banks. The Italian Government wants to use government public money just like the u. S. Did back in 20082009. This is going to cause more tension within the European Union. We have a financial crisis continuing with the banks. We saw data this morning which basically showed no growth in france, very weak growth and you have a continuing and rising Political Tension as a result of all of the pressures. It really is its hard to get excited about europe these days other than going on vacation, you know, having nice food and drinking good wine. Maria even there, tourism has plummeted. It has because of terrorism problem. Almost daily attacks throughout europe. And by the way, you are seeing consequences of this in european politics, you have seen brexit, the rise of the populist rightwing parties in france, in italy, austria and even germany. People need to keep an eye on this because this is a steadily boiling problem. Doesnt britains exit from the European Union empower the german drive and affect italian banks even more . The british were supportive of germany anyway essentially on many of these issues, it doesnt change the equation there. What it does is it does create more tension because it takes out of the european economy the second largest economy and the only one that was really growing with germany growing consistently and it does create more financial pressures as a result. It does create exactly what youre right, does create more pressure for the europeans to come together but that then has a political backlash because the people dont want that. Theres a tension between financial pressure, forcing european together and the political pressure of people wanting to pull apart. Maria all right, we will be watching the story. Technology the news. The tech giants crushing this weeks expectations, google, amazon, earnings, victories means we are going to see stocks move. Also we do have gdp out, this is the First Showing to have gdp. We are going to get that this morning. Plus Hillary Clinton getting a glowing recommendation from a military leader but trump still not buying. More on the battle of Foreign Policy. Back in a moment i know what i can expect from usaa because i have my checking with them, my savings with them, my credit card with them. And then i learned i have this usaa car buying service. The usaa car buying app was really helpful. All the information was laid out right there. I was able to see the savings that i qualified for. It makes your life so much easier when you have to purchase a car, so ive been telling everybody. Usaa car buying service, powered by truecar. Exclusively for usaa members. I wanted to know who i am and where i came from. I did my ancestrydna and i couldnt wait to get my pie chart. The most shocking result was that im 26 native american. I had no idea. 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