Transcripts For FBC Mornings With Maria Bartiromo 20240714

Off. We are looking at markets this morning, firmer tone. 102 points higher, nasdaq up almost 50 points, all three majors rebound yesterday on trade and currency fears, beijing and washington still in stalemate with china digging in for drawnout fight, pretty good market yesterday, lindsey, your reaction . Yeah, im actually surprised the market is taking everything that we learned through the last couple of days in such good stride, again, today like you said at the top of the show you see the yuan being weakened. Not to the extent we saw sunday night which sent the market into kneejerk reaction. I think what we are seeing the two countries are in it for the long haul and i dont expect us to have any resolution before tend of the year and we go to a point of no return, we go too far and the Economic Impact around the global is really too, too far to come back from. Definitely stoke uncertainty, dagen. Dagen uncertainty that the Federal Reserve cant fix, uncertainty is the greatest enemy of Business Investment decision, im stealing a quote, i think steel who was quoted in the wall street journal last week, again in the market, im not talking about just the u. S. Market, but in markets and economies, markets overvalued, priced for perfection and economies that are highly leveraged and companies in many instances that are deeply indebted as well, it doesnt take much in that scenario to trigger kind of an irrational panic and maybe i dont think any panic is irrational and doesnt take much and the reason i point this out yesterday, the reason that investors were so concerned in sudden drop in the yuan and other agent, the dollar denominated debt thats outside the country, you have entities, banks particularly in south korea that will try to repay debt with devalued currency with cheaper currency, that in and of itself could trigger a financial crisis and the domino effect around the world, so the stability and the currency was critical. Right, i do think that the market overreacted definitely with concerns that trade war would escalate to global currency war. The chinese okay with trade war, what they definitely dont want global currency war because it could hurt their own country citizens, less so they less purchasing power. Maria they were dedowning their currency before, the u. S. Called them out, right . Yeah,. Maria devaluing their currency. That doesnt always work, it spelled longterm trouble potentially for the Chinese Government and the chinese economy and we did see him blink here and the reason the market bounced back, they tried to stabilize the currency and reassured investors that everything was going to be okay and they didnt specifically want a currency war. Dagen thats what china cannot afford and xi jinping, we talked about this year, xi jinping is in a position where he might he really cant negotiate with President Trump coming up on this tenth anniversary, i think its in october of the peoples republic, that major anniversary for communist china, because i know that you talked about this year that when are we going to get a trade deal, it would be after the election, neither one of the men, the leaders have a lot of negotiating power. Room to give so to speak. Xi jinping has a strong image to protect, he thinks in dynasty, centuries. We think in years. Maria for sure, earnings to talk about, disneys profit reporting disappointing quarter numbers, 21st century fox acquisition cited as one of the reasons for the miss, ceo iger says costs would weigh on the company, whats your reaction here, dagen . Dagen one of the things that hurt that dragged on disneys results was, like you said the acquisition of fox assets and bob iger started the call that it was the most complicated in 14year tenure as oh ceo. Thats not good. These are assets, filmed assets and entertainment asset on the fox side that had been lagging this year, they will rebound but it kind of goes to the point that the entertainment is very reciprocal and investors are really waiting until the streaming Service Comes out later this year, thats the way that disney will ultimately be able to monetize eldest content of own and monetized all the entertainment assets. Maria if i had to make a bet, i would be betting on disney, netflix is super successful but disney has incredible i think youre absolutely right. The stock is up 30 year to date, you know, bob iger also made the comment on his call that its going to take a couple of years for streaming service to turn around like netflix and some of the others, they are spending a lot of money to make it grow and investors are betting on. They might be disappointed. Dagen here is the kicker and disney said this year, disney plus which is standalone is going to cost 6. 99 a month, disney plus will come in a bundle along with espn plus and hulu for 12. 99, same price as netflix most popular subscription plan, you know what netflix doesnt have live sports. Thats what you get with the bundle, thats a very Competitive Price and that is a very attractive option. Maria probably the most important intellectual property on television. Sure, sure, iger did say on the call that this was the most important product the company has launched since his tenure. The other thing is they have to scale it very quickly, consumers are about to inundated with streaming services, pay to play things and i think he believes he has to go quick, he has to scale it very fast. For the same price youre getting less content. People will pay for the sports and if youre a parent, the disney, all the different their assets. Dagen who can turn that down. Ive owned all of the streaming services at one point or another. I dont have a cable, ive rented the streaming services. Yeah. Maria President Trump headed to dayton and el paso today to talk with victims families days after Mass Shootings and those cities and the president making protests including beto orourke and veronica escobar. Beto, phoney name, embarrassed by my last visit to state of texas and now more embarrassed for polling 1 in primary, should respect victims and be quiet. What a tweet. Dagen beto orourke, him jumping on this issue it looks like hes trying to benefit politically from these murders in el paso quite frankly and thats the way it looks not just the president but looks that way to many people. Its embarrassing to see commentators on the left say the president of the United States is not welcome in ohio or in el paso. Its embarrassing and the president has time and time again repeatedly forcefully denounced hate and basically called for bipartisan support to help fix the issue and hes already proven, you have a proven track record of doing something about, this after las vegas, people called for bump stocks to be banned, he put out legislation that banned bump stocks, so hes waiting for people to dive into and tell him what to do to help get this fixed. Maria we talked about this yesterday, dagen, you made the point that the president has done in terms of the shootings from the bump stocks to talk about background checks than president obama has done ever certainly in two terms. Dagen they also in a bipartisan move in congress, theyve tried to close the loopholes and the National Background check system because it was Sutherland Springs shooting in texas, that murderer had Court Marshal related to Domestic Violence that the air force didnt report into the background check system, so, again, i think you have to step back and look at is the government enforcing the laws as they are on the books right now . One big thing that will happen, i think, is that congress will move forward on at least laying the ground work for National Red Flag laws or national they have many names but gun violence restraining orders where Law Enforcement and or Family Member can go to a court and get an order to remove a weapon, weapons from an individuals home. Thats what they are also called. You have to be careful about due process. Lindsey graham has teamed up with richard blumenthal. Connecticut was the first state to have these orders in place, this is something that you will see both happen. Maria you would think both sides will get together on Something Like. Dagen they have complicated. I encourage people to read about them. They are complicated, if you get some sort of standard, Lindsey Graham and blumenthal are not talking about red flag law. Maria quick break, we want to take a look at earnings in markets this morning, quick break, taking on big tech, President Trump slams google over alleged political bias, what he said and what he wants done, straight ahead on that, spacex success, 3 years after the first exploded, back in a minute. Stay with us. Kevin kevin trusted advice for life. Kevin, hows your mom . Life well planned. See what a Raymond James Financial Advisor can do for you. Most people think a button is just a button. That a speaker is just a speaker. Or that the journey cant be the destination. Most people havent driven a lincoln. Discover the lincoln approach to craftsmanship at the lincoln summer invitation. Right now, get 0 apr on all 2019 lincoln vehicles plus no payments for up to 90 days. Only at your lincoln dealer. Welcome back, iran issuing a new stern warning, Cheryl Casone on headlines, cheryl. Cheryl yeah, maria, in speech iranian president says peace with iran is the mother of peace, war with iran is the mother of all wars, he also had this morning for shipping on the strait of hormuz. In you want safety in the region, security would be for security, you cannot slam our security and expect security for you, peace for peace and oil for oil. Cheryl tensions continue to rise. Accusing of economic terrorism, willing to talk with the u. S. If all sanctions are lifted. Well more Walgreens Stores closing, shutting down 200 locations, they also said the closings are part of move to increase operational efficiency, stock is down more than 20 year to date. Video from spacex to show you, video shows a drone shift which captures the rockets which is part of protective cover that breaks off and falls back to earth after the rocket leaves the atmosphere, but, again, elon musk actually doing pretty well when it comes to spacex and the rocket launches, things are turning around for him it seems. Maria thank you so much, we will talk iran for a second, your thoughts on the new stern warning coming from iran. More of the same, with iran its all about rhetoric, you to watch what they do and not what they say necessarily, they are covertly at war with us and they have been at war for years, they did this through proxy forces, recently captured another tankard in the golf, gulf, they are there to stoke violence. A few things i worry about when it comes to iran recently, i worry that china may start buying their oil and potentially give them an outlet to help boost their economy a bit, china is trying to form new alliances particularly with the trade war and the other thing i worry about is recent legislation where democrats seem to be trying to weaken our ability to defend ourselves against iran because they are taking the president s war powers to be able to act quickly, unilaterally and do something at moments notice at a time when its needed the most. But if we are attacked first, the president doesnt need to check with congress. Theyre trying to basically take away the authorization for use of military force, going to have to work with congress to do that, now i do believe in that legislation it does say that if we are attacked first he can do something, they seem to be weaken our ability and im concerned. Maria yeah, concerning this accelerate. Sure. Dagen really quickly you know what would weaken our ability to defend ourselves is a Green New Deal and moving away from fossil fuels, the rest of the world uses fossil fuels and iran is the biggest producers, we are the biggest producer in the world, you move away from that, you remove your ability to control the price of oil which we now have in our basically as a weapon, and you weaken us on the world stage, something that the democrats dont talk about when they are talking about going into a electric cars and flying birds to the west coast. Literal birds. Maria quick break and then permission not granted, twitter warning users their data may have been used for ads without an okay, the fallout coming up. Plus market rally, stocks are rebounding, we are looking at gains this morning and momentum continues, we have the outled outlet ahead of the hoping bell when we come right back. Hmm. Exactly. Liberty mutual customizes your car insurance, so you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty we all feel, we all love, we all cry. Its part of being human. Sonoma county declared a homeless emergency in 2018. You have to know the individuals youre serving to understand their needs. Working with ibm watson we can bring together data spread across dozens of departments. That gives us a fuller view of the people we serve. Dear tech, dear tech, we need to look after everyone in our community. And we want to help our fellow human beings. Hey i live on my own now ive got xfinity, because i like to live life in the fast lane. Unlike my parents. You rambling about xfinity again . Youre so cute when you get excited. Anyways. Ive got their app right here, i can troubleshoot. I can schedule a time for them to call me back, its great you have our number programmed in . Ya i dont even know your phone anymore. Excuse me . what . I dont know your phone number. Aw well. He doesnt know our phone number you have our fax number, obviously. Todays xfinity service. Simple. Easy. Awesome. Ill pass. Maria welcome back, markets are bouncing back, meltdown heightened by u. S. China trade tensions, this morning momentum continues, joining us right now russell investment senior portfolio kevin disney, great to see you this morning. How did you react to big selloff on monday as portfolio manager, did you buy into it or stepped aside . So we have been neutral between growth and value and defenses, going into earning season we we wanted to see how that came out, we are sort of trying to balance the line between having reciprocal and the process isnt processing earnings result, thats what we are looking into in august, not concerned from valuation level, s p 500 is about fair value today, if you look at price to book versus capital, it has been relatively positive, but the margins have been pretty intact, record Profit Margins are staying there and thats something that we are looking to into going to 2020. What is interesting and some people are calling 3 dimensional chess game between the administration and the fed right now, back them in a corner to continue to cut because of trade policy potentially amplifying already a global economy, we see that in europe, pmis below 50 and tailend is the u. S. Consume near the u. S. Maria dagen, you said earlier Interest Rate cuts are not going to save you of where we are right now. Dagen not to the point that weve gotten the escalation of this fight because, again, a trade war has now turned to what locks like a currency war, maybe not in the last day or so but, again, how much juice because we already have longerterm Interest Rates falling since last year and you have these incredibly attractive mortgage rates, how much juice would a shortterm provide in terms of lending and in terms of lower how much how much would it benefit americans. The benefit would be material if it was Corporate Investment because we have seen the slowdown and that is really because of visibility because of policy actions taken, so if theres more clarification on the policy side, but also with lower Interest Rates, thats something that could help investment. Dagen you dont get Corporate Investment without the clarity of trade policy. Exactly. Dagen Interest Rate cut would do maria yeah. Look at 10year, 1. 7 on 10year yield, thats extraordinary. Dagen lowest its been since before President Trump was elected. Broke 170 yesterday, the yieldcurve inversion is cause of concern, people are calling it a technical if it stays inverted, if you go to 1969, usually recession 404 days, the Capital Markets are telling us deacceleration, forcing policymakers into a corner and thats really not the best way for policymakers to take action. Lindsey, what are the numbers, how are we looking on the Second Quarter reporting season. Second has been really god, we are looking at 1 and a half percent growth, down 2 into the earning season, my worry is 2020 expectations for over 11 earnings, like you said, we are seeing deacceleration economically all around the globe, what happens to numbers Going Forward. 2019 numbers have come down, the guidance is really important and that would be the concern, the good news or sort of safety net right now is that the market is not incredibly expensive and thats the one thing thats a heaven for Equity Investors right now. Maria all right, we will leave it there, kevin. Kevin divney. President trump tweeted, south korea has agreed to pay substantially more money in order to defend itself from north korea, last year at the request of President Trump south korea paid 990 million, talks began to further increase payments to the United States, south korea is wealthy nation and feels obligation to contribute by the military defense provided by the United States of america, the relationship of the two countries is a very good one. Take a break, when we come back, the president takes on Big Technology slamming google for alleged political bias, what he wants done coming up. Hitting the road amazon selfdriving robot ready to make first deliveries, where you can find them, straight ahead. Corey is living with metastatic Breast Cancer, which is Breast Cancer that has spread to other parts of her body. Shes also taking ibrance with an aromatase inhibitor, which is for postmenopausal women or for men with hr her2 metastatic Breast Cancer as the first hormonal based therapy. 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But this year, theres a more thrilling path to follow. father kids. Change of plans vo defy the laws of human nature. At the summer of audi sales event get exceptional offers now . Or trips to mars. 4. 95. Delivery drones or the latest phones. 4. 95. No matter what you trade, at fidelity its just 4. 95 per online u. S. Equity trade. Maria welcome back, good wednesday morning, very much for joining us, im maria bartiromo, wednesday august 7th, top stories 6 31 on the east coast, markets have a firmer tone, take a look, futures showing market wills add to yesterdays rally, up 104 points on the dow this morning, s p futures up 11, nasdaq futures up 46, yesterday the market was able to gain back some of the losses suffered during monday ice big broad selloff, dow industrials were up 311 points yesterday, 1 and a quarter percent. S p was up 37 and nasdaq up 107. Global market this is morning look like this as you just heard, a number of Interest Rate cuts in asia, in the european markets, you had more signs of slowdown, germany reporting Industrial Production fell more than expected in the month of june, down 1. 5 month over month, dax index up 160 points, one and a third percent, ftse in london up, cac quarante up 71. Chinese official says hong kong facing worst crisis in 20 years, we see that on the streets with all the protestors and as i mentioned 3 Interest Rate cuts in asia overnight, President Trump versus google. Hes doubling down on claims of political bias, he says hes watching the company very closely and then theres this, twitter problems get worse, the company says it may have used user data for ads without permission, what a surprise, the social media says it is doing something about it and we will tell you about that. Plus, future is here, amazon selfdriving robots hitting the road, find out where, check out the robot there and top rank golfer, inside business of pga and look at how technology is being use today drive this sport forward, coming up later this hour, first this half an hour, online censorship, President Trump slamming google and ceo amid allegations of anticonservative bias, the president says the administration is watching google closely, this is what he told me back in june about Tech Companies in 2020 election. You mentioned technology companies, they will do that right up to 2020 election. Well, they are doing it to me on twitter, what they did to me on twitter is incredible, you know, i have millions and millions of followers. And they make it hard for people to join me on twitter. They talk about russia because they had maria somebody at google dont want what happened in 2016 to happen in 2020. Let me tell you, they are trying to rig the election, thats what we should be looking at and not the witch hunt, the phoney witch hunt which has proven zero. Joining us right now fox news senior judicial analyst judge Andrew Napolitano and judge, what you didnt hear in the sound bite, good to see you by the way, you didnt hear me do you want to see legislation or do you just want to see competition he said, we will likely see legislation lead to competition. Well, look, you know im the free market first and First Amendment person, doesnt matter what i am, First Amendment is very clear and the courts have been very clear. The president s complaints are legitimately and widely held and well grounded, theres no question that this is happening, the question is what remedy can there be, can congress possibly get involved and say to grade schooling, you have to have more conservative things, the marketplace of ideas regulates speech, the government doesnt regulate speech but by pushing this the way he is, he will he will make a lot of people aware of the fact that they are being suddenly manipulated when they google something they are not getting the answer that theyre expecting or they are getting an answer that google wants them to get. In the real world, you know, if google wants barriers to competition, there would be another Search Engine that people who dislike google and dislike political manipulation, but i realize the barriers to entry are extraordinary, would require a fortune to establish something that could compete google. Maria google has 90 market share in terms of search and you remember in 2017, we went to all conventions that were covering the election, you googled anything about Hillary Clinton and you got great, beautiful news, she was the best thing, you did the same for donald trump at the time, hes terrible, hes horrible, all negative stories, so they did do that during 2016. The more the president points this out the more consumers should be aware of whats going on, but i fear and people who believe in the freedom of speech should fear any effort by the government to tell google how to run its business and what speech it should advance and what speech it should not advance, thats going to be done by the marketplace of ideas stated differently. The people feel about google the way the president feels they shouldnt use it. Maria 90 of the market share. Dagen you dont have a choice. If you put a search query into apple receive Safari Browser it is google. You dont have a choice on site that is you visit to the internet, twothirds of the ads are served by google and facebook, roughly. Social media companies, facebook, twitter and the like, what you like and what youre interested in. So youre not getting the other side of the maria no sort of privacy issue. I have to get to peter strzok because i just read the complaint for you. [laughter] maria suing the bureau and the Justice Department over his dismissal now, he claims the agency violated first and fifth amendment rights, no mentioned of what rights he he broke when he spied on donald trump. I would like to be present at his deposition, examination before trial where they go into all kinds of things and personal background, here is his argument, he legitimately was reviewed by the aspect, the fbi that hears complaints about senior fbi members and that group which is a nonpolitical group thats been doing it for years and years, he gave the names, not names that anyone would recognize decided that his behavior did not warrant being fired. He then was fired, given you what he says happened to him, he was fired because he expressed political opinions about the president , so his argument is i was punished for exercising political speech which is protected under the First Amendment and the fbi people that reviewed my behavior decided not to fire me and i wasnt allowed an appeal which under Civil Service law he is entitled to. Prediction, some kind of monetary settlement here, nobody wants a case like this to go to trial, he doesnt want all of his background, i would like to be present at the deposition, he doesnt want to have to answer all of the questions under oath, did you say this, what did you tell fisa. Maria no mention of the abuse around the fisa. He deliberately sabotaged the president of the United States. Counterintelligence professional that should know better. You should not intertwine political your thoughts if youre a counterintelligence professional. Thats sabotaged by definition and thats criminal offense if youre in the intelligence community. Interesting what hes asking for, a return i cant imagine whats happening now. Return to the position that he had at the time he was fired with increase in pay. Maria yeah, right. Dagen he cant get a job at msnbc, is that why . Maria thats probably the next step. The whole story is so troubling and more is coming out. We are expecting the ig report around september and, of course, Lindsey Grahams view into fisa abuse. Judge napolitano there, coming up twitter privacy issues, the company admitting that it may have used data for ads without user permission. I sat down with Brooks Koepka and life after number one golfer in the world, thats coming up oh, come on. Flo dont worry. Youre covered. dramatic music and youre saving money, because you bundled home and auto. Sarah, get in the house. Were all here for you. All all day, all night. dramatic music great job speaking calmly and clearly everyone. Thats how you put a customer at ease. Hey, did anyone else hear weird voices while they were in the corn . No. No. Me either. Whispering voice jamie. What . Maria welcome back north korea issuing new warning, cheryl. Cheryl thats right, maria, north korea launched another missile yesterday, the fourth in less than 2 weeks, north Korean Leader says test launches are a warning to the United States and south korea over the military drill that is began this week, kim supervised a live fire demonstration of newly developed shortrange ballistic missiles, will, twitter, revealed that it may have shared certain data without permission, users have clicked on ads since may 2018, Company Reportedly also used data for ads without getting an okay, twitter said that its work to go make sure this never happens again. Now to amazon, selfdriving delivery robot scout, you may have seen him in youre in seattle, well, they will be going to another neighborhood, delivering packages in irvine, california, amazon begins testing robots in the beginning of this year, the company says scouts will be delivering orders monday through friday and only during the day, so i guess, maria, if youre a robot you dont want to work on weekends. [laughter] cheryl okay, got it. Maria i like that. I want to use one of those, cool. Dagen you need a person there to answer the calls and deal with the when the robot gets lost maria thats true. Dagen need for people. Maria quick break, sitting down with number 1, my chat with Brooks Koepka, what its like to rule the green, back in a minute. Theres a company thats talked to even more real people than me jd power. 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. 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Maria how do you stay there, i know this is partly mental and partly physical, how do you stay number 1, whats going through your head right now . When i first became number 1, i just wanted to stay there, that was the goal to stay there. Yeah, then i lost it and got it back again. Ever since i got it back its been one of those things where im not trying to push too hard and not trying to put too much pressure on yourself and you get consumed and thats what i did in the beginning stages of it and now relax and go play, still the same game ive played for 25 years now, nothing has change whept putting the ball in the hole. Maria is there something that you know that others dont, youre a champion, youre among the best in the world, you have others around you but what do you think about . I dont think about anything, just go out there and go win, play the best and go play the best i can for that week even if it comes up short, it comes a short. I gave it my all and nothing to be disappointed if you gave it your all. Maria how has the game changed, you have social media, youve got yeah. Maria you have technology, tell me thousand game has changed from your standpoint . Its crazy, so much technology, i really dont even use much of it. I understand how it all works, you can break it down into just about anything from, you start working half degree there and half degree, it can get complicated and you get obsessed with it. Im the kind of person that i see the numbers, all of the technology involved in it and i kind of get consumed by it instead of letting it come naturally to me. Maria seems like you dont put pressure, you say its golf, most important is you are feeling relaxed. Its just a game at the end of the game, we are still having fun, im still having as much as i did when i was a 5yearold kid, 10yearold kid not making any money or not playing for major championships. Maria and you grew up with it . Yeah, playing with my family and obviously, you know, you start competing against guys a little bit older, guys your age and you get out here and then it becomes very real. Maria here we are at the beginning of the playoffs, you say winning major events championships is easier than regular events . Yeah, i think so. A little too much pressure on themselves, theres 150 guys, a lot of them they want to win and mentally some of them arent Strong Enough and from there you have a few that will play good, so you only have to beat certain amount of guys and its mentally get in their own way a lot of times. Maria go back to most recent huge win, huge opportunities come your way, endorsements. Try to partner up with brands that kind of go along the same viewpoints that i have. I think that you get to meet so many people, everyone loves to play and you get them in the golf course for 5 hours and you get to know somebody, its been fun dealing with sponsors and dealing with different partnerships and meeting a bunch of people. Maria golfing has become a very big business, do you feel it as a player, do you feel it as number 1 . Yeah, yeah, a little bit, you have certain obligations you to stick to and its fun, each year seems to grow as far as who you can meet, who you can bring into the game and thats what thats what i think Everybody Loves about the game, you see a lot of athletes and when they are done playing they want to come in there and play golf. Maria they really love golf. [laughter] we watch them all of the time and they end up watching us and all they want some of them are golf junkies so its great fun. Maria you feel like you didnt get respected by the media. There was a couple of other guys that have done what i have done in the couple of years, you know, i get it, i get that im not on the golf course smiling all of the time, its my work, im going out there not to please anybody on the golf course, im going out to take care of business and they might enjoy their jobs but at the same time when they are in computer they may not be smiling. Maria by the way, thats why you are winning. Focus. Maria you didnt do any equipment deals, tell me about that . I wanted to play with everything that ive got in the bag, its nice to keep your options open, nice to have some Company Comes out with new ball, new wedges, anything like that, i have the opportunity to go test it and see if its going to make my game better. Maria next 5 months is really important to you, how do you prepare . Yeah, i mean, obviously, these few weeks will be important and then from there its just, you know, im happy where im at, im happy where im at. I feel like everything has worked out well, thats why ive had so much success in the last few years being able to pick and choose what id like to do. Maria youre a god man, thank you so much for joining me. My thanks to the number one golf near the world, more to come on that, next i will sit down with hawaii congressman Tulsi Gabbard. Profits missed estimates, stock is down 3 and a half percent this morning, we will take a look at new streaming service right here as well as disneys growth story, mornings with maria continues next up. Opportunity to experience our most advanced Safety Technology on our full line vehicles. Now at the lexus golden opportunity sales event. Lease the 2019 es 350 for 379 a month for 36 months and well make your first month payment. Experience amazing. Dear tech, lets talk. We have a pretty good relationship. Youve done a lot of good for the world. But i feel like you have the potential to do so much more. Can we build ai without bias . How do we bake security into everything we do . We need tech that helps people understand each other. That understands my business. Weve got some work to do. And we need your help. We need your support. Lets expect more from technology. Lets put smart to work. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. Maria welcome back. Good wednesday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is wednesday, august 7th. Your top stories right now, just before 7 00 a. M. China trade turmoil continues, the China Central bank setting the yuan bank above the symbolic 7 level. A new number shows the u. S. Has collected 63 billion in chinese tariffs through the month of june. Markets this morning are firmer, looking at another rally at the start of trading. Dow industrials off of the best levels of the morning, up 60 points, s p up 6, nasdaq up 29. Earnings continuing to come out. You see cvs on the screen as we speak. Yesterday, the market gained back some of the losses it suffered during mondays huge selloff. Dow industrials up one an a quarter percent, s p up 37, nasdaq up 107 points. Global markets this morning look like this. European indices are higher across the board despite more signs of a slowdown. Germany reporting Industrial Production was down. It was actually down more than expected in the month of june, down one andahalf percent, month over month. The dax in germany up 150 points right now, one and a third percent. The cac in paris is up 72, the fq100 up 62. In asia overnight markets saw slight losses except for hong kong which managed to end fractionally higher. Pretty much fractional moves across the board as a chinese official says hong kong is facing its worst crisis in 20 years. On earnings, disney reported record revenue but the profit did take a hit. The theme park attendance declined. The stock is sliding this morning, ready to shave 30 points off of the dow industrials at the open. Stock down three and three quarters percent, plus new details of disneys streaming Service Coming up. A flaw in Facebook Messenger for kids reportedly allows children to join chat groups with adults. Now lawmakers are questioning if the social media giant is doing enough to protect young users. And the nfl makes a big bet, its bringing gambling to thursdays redskins preseason game. How it will work later this hour. Joining me to break it down, dagen mcdowell, former u. S. Army special operations and Strategic Advisor at wright fox defend, brett kelisovich and lived di bell iandlindsey bell. Theres some visible, what, what do you want to call the way the New York Times covered dayton today. Dagen theres no mention of dayton that i could see on the front page of the New York Times today. Maria heres the front page of the post, crazy has no party. Dagen about the far left antifa supporter that was the dayton murderer. But a focus on el paso, it looks like you have members of the media picking and choosing narratives that fit their political agenda. Murder is murder. Maria a spouter of a supporter of the left, Elizabeth Warren. Dagen he was certainly a socialist and based on his social media footprint had seemed to be a supporter of a number of different socialists and a left wing candidate. Maria they do a big deep dive on el paso today. Dagen on the front page. I havent looked inside the paper. Again, thats the front page today. Maria were talking that this morning talking about that this morning. And also david malpas is here, hassan naji joins us and mack mcklarty joins us. Tellsy gabbard is here. Our top story this hour is disneys profit report. The media giant reported record revenue but missed wall street expectations on the top and bottom line. They posted revenue of 20. 25 billion, up from 15. 25 billion this time last year. Bob iger credited the 71 billion acquisition of 21st century fox for the companys miss in expectations. Disneys disappointing earnings per share has shares of the entertainment giant on track to save 30 points off the dow industrials. Stock is down better than 4 right now. Joining us now to talk about that is tuna amobi. Whats was your reaction to the disney numbers. I think it turns out the fox deal is going to be a lot more dilutive than previously anticipated. That was the main reason for the bottom line miss. Also, the consolidation of hulu, that also impacted the results. Disney called out the fox studio as well as the startl star ten in india as the main reasons why we saw that major swing. Continuedecontinued investment t to consumer is also a factor. We went away with the view that the longer term thesis for the tox integration remains intact. Maria the growth story for disney is what Going Forward . Theyve got the streaming service. There seems to be a growth story in tech. Do you believe it is still in tech, despite this quarter . I do, maria. The reason for that is the details they provided around the upcoming direct to consumer, disney plus, which is going to launch this fall. We learned theyre planning to bundle that service with hulu and espn plus for 12. 99 monthly. Its another layer, a move that will make the service more compelling. Put that aside also with the synergy, they talked about 2 billion remains intact, accretion of the fox deal by fiscal 2021 was reaffirmed mf maria thats what dagen said earlier. Dagen you get an incredible amount of content. Disney plus is marvel, star wars, lucas film properties. Hulu, which has a lot of original content, and then espn plus, which is your sports programming. This is an incredible bargain when you compare that 12. 99 is the equivalent of i think netflixs most popular package. Maria and they dont have sports. Dagen what theyll do is theyll build a base and then theyll jack the price at some point. But at least out of the gate, this is a very competitive product. Indeed. I do believe theres a lot of Pricing Power in the model for them to raise prices over time. And tuna from an investor perspective, on the Earnings Call one thing they didnt talk about was this expansion into international markets, right, for the streaming service in particular and i think as an investor they may want to understand that a bit more. Theres regional licensing issues with content, espn plus, hulu, they have regional content licensing issues. Is that going to help them in the future . Are they going to have a significant difficulty in being able to license that content internationally and do you think that will actually translate to a significant amount of profits in the future . International licensing and kind of pullback of those rights, i think its going to be a gradual process. They did talk about disney plus being launched in addition to u. S. Into Additional International markets. The he question cam question cau International Rollout plans which they havent provided details thus far. Espn by definition will be mostly concentrated in the the us, streaming service. So my sense is that over the next six to 12 months theyre going to come up with a much more granular plan of International Rollout, how to consolidate those rights. But youre absolutely correct. In order to have a major impact in a lot of these markets, they need a lot of these kind of rights, much like netflix has done. Remember also there is investment in local language shows, so Disney Streaming is going to im sure in ad digs look to do shows in addition look to do shows that are specific to certain local markets. I know this is one of your favorite stocks, we love it at the company, we have it in one of our portfolios, in the top 10 portfolio, its up 30 on a yeartodate basis. The report we got, do you think investors are going todays the stocks under pressure. Do you think theyll give them a pass on the fact that the profitability of disney plus will take more time to come through the system. I think after yesterdays call, i think investors went away, lindsey, with the impression that this fiscal year, fiscal 20 will be a year of more or less of kind of transition. I talked about the potential dilution from the fox deal. Its going to be kind of take some effort, heavy lifting to integrate all that. I think the real payoff here is going to start from fiscal 2021. Investors, i think you see kind of a knee jerk reaction. We did take down our recommendation to a buy which is still positive, left our target price intact. We have a sense theres near term integration issues they have to navigate and it could take longer to there. Maria what about cutting the cord, the number of americans ditching cable tv on the rise, according to new research from e marketer. The reports are predicting the number of pay tv households will fall by the end of the year. The number of households will fall below the 80 million mark by the year 2021. This would be a worry for the whole industry, right . It is. That trend has been going on for some time. Its accelerating from here. Audience fragmentation, impact of demographic changes, millennials, et cetera, youre seeing a transition from linear to internet television. Thats why disney and comcast and warner media and everyone else are launching streaming offerings. Apple. This streaming war is intensifying for the reason of the cord cutting you that mentioned, theyre looking for ways to be able to offset some of those traditional subscriber losses. Maria how does this play out . Do you think well see more acquisitions in. I think theres pentup appetite for some deals but right now investors want to be sure that some of the mega deals that have occurred already, whether its at t, warner media or disney and fox or comcast, those deals need to be integrated. When investors get assurance that integrations are seamless, thats when you see more appetite get rekindled. Dagen and make sure the federal trade commission and the Justice Department arent going to get in the way of additional deals that they might try to ink. Indeed. Thats a question for some of the fang names. Maria look at dish expanding if the phone service and having to defend expanding and spending more money object the phone service we went through that in the he 90s and we have dish going the other way, trying to be like every other player, phone as well as cable and not cable, satellite, sorry. That tells you how dramatically the business landscape has changed. I think dish realizes the core business of Satellite Television is dying, much like the pay tv landscape. So theyre trying to make that transition into a wireless, kind of mobile dispensation. Dagen one thing ill correct. We have awesome viewers. You can go into your settings on your iphone and change your default Search Engine in your Safari Browser to other options that when you have the phone, so it is google, but you can use bing, yahoo or duck, duck, go but you have to go into your settings and change it. I wanted to pass that on. Maria thank you. Dagen and weve got smart viewers, a lot smarter than i am. [ laughter ] maria tuna, thank you. Coming up, childrens privacy in focus, facebook feeling the heat over its kids messenger app, what critics are saying. The nfl takes a major step toward gambling, how it could affect the season coming up. Stay with us. Ive been shaking. I love it when you go crazy. You take all my inhibitions. Baby, theres Nothing Holding me back. You take me places that tear up my reputation. Tasks at hand. But this year, theres a more thrilling path to follow. father kids. Change of plans vo defy the laws of human nature. At the summer of audi sales event get exceptional offers now can the past help you write the future . Can you feel calm in the eye of a storm . Can you do more with less . Can you raise the bar while reducing your footprint . For our 100 years weve been answering the questions of today to meet the energy needs of tomorrow. Southern company managingaudreys on it. S . Eating right and staying active . 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Ask your doctor about jardiance. Your daily dashboard from fidelity. A visual snapshot of your investments. Key portfolio events. All in one place. Because when its decision time. You need decision tech. Only from fidelity. Maria welcome back. Texas congressman castro doubling down after being criticized for tweeting the names of dozens of Trump Campaign donors. Cheryl casone with the details. Cheryl the democratic congressman who was the twin brother of president ial candidate Julian Castro listed 44 people who contributed the maximum amount to President Trump. It sparked backlash from gop members, including steve scalise, who said people should not be targeted for political views and said it was inviting harassment and encouraging violence. Castro said the president s campaign has, quote, stoked fear of brown skin immigrants. He pointed out he did not reveal private or personal information about the donors. Facebooks under fire over a design loop hole in the kids messenger app that allows Young Children to join chats with older members and without parents commission. Theyre being asked whats being done to prevent this from happening again. A Greyhound Bus trip took an unexpected turn after the driver decided to quit in the middle of the ride, stranding passengers for hours. This happened when the bus stopped in abiline tension as,. Passengers called greyhound for answers after a 20 minute stop turned into two hours. Took nine hours for the company to find a replacement driver. Greyhound bought everybody lunch while they waited some passengers are saying could we get a refund for this trip. Maria i would think so. Thanks, cheryl. Meanwhile, congressmans castro putting out the names of trump donors. Why would you do that unless youre trying to encourage some movement, youre trying to encourage somebody to go after these people. It said we didnt include private information. So what . What was the point of doing this if not for docking. Dagen you name these people. If you have a problem with trump, then call the president out on it. But youre naming people because youre inviting mobs of people to harass them. Thats why youre doing it. Kimberly strassel wrote this, that transparency laws were supposed to help guard against pay to play and corruption, not to be used to incite hate against those engaged in the civic process. And you always must think when a lefty and a democrat does this, what would be the reaction if somebody on the right did it. What would be the reaction if a conservative did this, listed peoples names and basically said have at them. Thats essentially what is going on. And the fact that hes trying to defend this as a sitting member of congress is really appalling. Hes part of the problem. Congress should condemn Something Like this. This is the the same tactic pair terrorist groups use. This is absolutely a threat. Its the equivalent of telling somebody to attack one another and theres no need for that. This constant titfortat in releasing names is just embarrassing that a congressman would do Something Like that. Maria why didnt we have the donors of nancy pelosi . How come we dont have a list of donors of other people . Why the donors of President Trump . Theres that too. You shouldnt release any donor information. Dagen again, do as i say, nt as i do. That what theyre saying is that its okay to do this because, again, they have the moral authority. Theres a double standard, hypocrisy is endless. Dagen its that they are pursuing a higher good and thats the bubble p didnt they. Maria didnt they do this to ted cruz too . There was a situation with guns where a number of gun owners in a certain region, their names were released in an effort to basically say that, you know, they shouldnt be owning them. Maria more shameing from the left. Constant shaming. Maria did you want to jump in here . I was going to add the fact they said they didnt release personal information but isnt your name personal enough. And the company name too. And the Persons Company name. Maria a quick break and still an investment opportunity, Bridgewater Associates founder ray dalio promoting china, his eye opening comments, next. The esports real estate impact, the gaming industry impacting other markets. Details when we come right back. Youre shaking that money maker. Like a heart breaker. Like a college major. Kevin, meet your father. Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin trusted advice for life. Kevin, hows your mom . Life well planned. See what a Raymond James Financial Advisor can do for you. Maria welcome back. Futures are indicating a higher opening this morning at the start of trading, all three major averages rebounded yesterday. Now, first on fox business, new research from hfr shows hedge funds posted gains in july amid rising trade tensions and Interest Rate cut by the Federal Reserve. Joining us right now is the president of hfr, ken hines. Its good to see you this morning. Thanks for joining us. How has the performance been in the Hedge Fund World . Tell us how that compares to others like passive management rather than active. Yeah, absolutely. Theres two records that we have achieved in the first half of the year. The first is that total hedge fund capital has increased to a record level, three and a quarter trillion dollars which is pretty exciting. The first half of the year was a record itself. The other in terms of the overall performance being about 10 and the other record is that in the same way that the s p 500 and the dow jones reached record levels in the month of july, the hfri Fund Weighted composite also reached a record level of 14,500 which is significant for institutions because the indices are now investable so institutions can actually invest and get the benchmark performance without risking underperforming to benchmark. Ken, lindsey bell here. Im wondering what youre seeing with flows into hedge funds and what areas are benefiting more or less with regards to flows into or out of the Hedge Fund Category . Yeah, the flows ill start with the flows out. The area that investors have been reducing is the equity hedge area and that is, as equities have reached alltime highs youve seen a preference for lower beta strategies. The areas theyre investing into in the first half of the year were event driven which includes shareholder activist as well as credit multistrategy and relative value arbitrage. In july, one of the areas that was very strong was the macro strategies including ctas, commodity and currency funds and risk premium funds. Maria let me ask you about the ray dalio posting. The founder of bridgewater still bullish on chinese stocks. Hes urging investors to buy into china. He had this to say in a video online yesterday. Would you have not wanted to invest with the dutch and the dutch empire, would you have not wanted to invested in the Industrial Revolution and british empire, would you have not wanted to invested in the United States and the United States empire . I think its comparable. I believe that chinas a competitor of the United States or chinese businesses will be competitors of american businesses and other businesses around the world and that youre going to, therefore, you want to be if youre diversified, you want to have bets on both horses in the race. Maria your reaction, ken and how prevalent is china investing from the Hedge Fund World . Well, its huge. I think that definitely youre seeing more and more funds theyve been that way for quite a long time now, 10 or 15 years, youve seen increases in hedge fund capital allocations to china. China is trying to accelerate some of their changes to open up their markets to Foreign Ownership but i think the thing that really thats really important here is that effective with last weeks lowering of Interest Rate cuts, i think were in a new paradigm of investing for hedge funds and Financial Markets with lowering Interest Rates when the economy really wasnt very weak, clearly showed theres an intent to create inflation, to be he very aggressive about that and that the Current Administration and the policies with regard to these trade wars, the markets are going to sell off and theyre going to come back and these problems, these challenges are not going away in the second half of the year. Theyre going to continue to be with us and continue to dominate Financial Market and hedge fund performance. Maria especially the china fight. Ken, its good to get your insights. Thanks so much. Thanks, maria. Maria coming up, digging in for the long haul, china reportedly getting ready for a drawn out trade fight. David malpass joins us next to talk about the u. S. China trade tensions. Doing right by americas heroes, Baker Mayfield going the extra yard for u. S. Service members, his act of kindness coming up. Stay with us. When we took the holiday. Took some time to celebrate. Come on, lets celebrate. Just one day out of life. Holiday. It would be, it would be so soce. This is jamie. Youre going to be seeing a lot more of him now. Im not calling him dad. Oh, nno. Look, [sighs] i get it. Some new guy comes in helping your mom bundle and save with progressive, but hey, were all in this together. Right, champ . Im getting more nuggets. How about some carrots . You dont want to ruin your dinner. Youre not my dad thats fair. Overstepped. Maria welcome back. Good wednesday morning. Thanks so much for joining us, everybody. Im maria bartiromo. It is wednesday, august 7th. Your top stories right now. Chinas central bank setting the yuan rate above the symbolic seven level but not still at a level not seen since 2008. The new number shows that the u. S. Has collected 63 billion in chinese tariffs through june. Markets this morning are higher, futures adding to yesterdays big rally. The Dow Jones Industrial average right now up 44 points, s p up 5 and nasdaq futures higher by 29, a third of a percent. On top of yesterday when the market was able to gain back some of the losses suffered during mondays selloff. The dow industrials were up 311 points, s p was up 37, nasdaq was up 107. Global markets this morning look like this. Firmer tone here as well. Got the fq100 up 55, cac up 69 and dax in germany up 142 points. There were more slowdown signs in germany. The Economic Data of the day, germany reporting Industrial Production fell more than expected in the month of june, down one andahalf percent month over month. Meanwhile in asia, the markets saw slight losses except for hong kong which ended to the upside, this as a chinese official says hong kong is facing the worst crisis in 20 years. Three major Central Banks in asia lowered Interest Rates overnight, new zealand, thailand and india. New zealand, 50 basis point cut. E sports, more on the real estate play coming up. The nfl is bringing gambling to thursdays redskins preseason game. How it will work, ahead. An nfl player goes into overtime for the military. What Cleveland Browns Baker Mayfield did, coming up right here. First, our top story this half hour, the trade battle with china, markets are looking to extend yesterdays rally after yesterdays market route on the news of course that china was devaluing its currency and the u. S. Called it out as a currency manipulator. Beijing and washington still in the trade stalemate with china digging in for a drawn out fight. This comes as new day a take from the Treasury Department shows the u. S. Collected 63 billion so far in tariffs since june of last year. Joining me right now, World Bank Group president David Malpass to talk more about all of that. Its great to see you this morning. Thanks so much for being here. Hi, maria. Good to be on. Maria how should we view whats going on with china . We know that now the chinese are trying to limit the declines by keeping that seven level in the yuan. But the president and treasury has called them out as the currency manipulator. What should viewers understand . Im not involved in the fx policies at this point but what i can observe is that china has slowed some and the statements that theyve been making have been in the direction of stabilization. I think thats good. They are part of the g g20communica that comes out when the g20 meets. Its to recognize the growth and investment from currency stability in general. China is fully part of that as a concept of growth. I think thats good. But clearly, they face a lot of challenges in their interface with the rest of the world. They have stateowned enterprises. Theyve got basically still in many ways nonmarket economy thats been trying to move more towards markets but has a lot of room to go. Maria can the u. S. Grow without a deal from china . I mean t tw the two largest economies, do you expect that lets say we dont get a deal with china, that the u. S. Is going to be at a disadvantage . You know, i was heavily involved in the trade discussions, so i dont want to speculate on the deal. But from the standpoint of u. S. Growth, its held up well. A challenge for the world is growth outside the u. S. Has slowed down. You mentioned at the top of the show the Industrial Production in germany down 1 , 1. 5 and so europe has been slow and adding to that challenge is the amount of negative Interest Rate bonds that are sitting on the economy. I think those are a big drag when youve got a policies that end up with negative Interest Rates. Maria three Central Banks overnight lowered Interest Rates, new zealand, thailand, india and then youve got the global Monetary Policy basically is low. The eu nominating chris salena jorjva to manage the imf. What are your thoughts on the changes that were seeing as economies across the world basically have this race down to zero on Interest Rates . Well, let me start with christalina, shes been my ceo for the world bank. I knew her quite well before i came to the world bank and thought very highly of her and my opinion has gone even higher in working with her very closely over these last few months. So i think its good choice for europe. It brings in a small Eastern European country leadership that has been very strong. The Eastern Europe has been a Success Story within the developing world and shes very good at finance, at country, at done industrcountry understandid relationships around the world. I think its a good choice for the imf. With regard to the Interest Rate point that you made, one of the challenges is that Central Banks are still buying a lot of these low Interest Rate bonds. So the European Central bank is still buying bonds, even though the yields are super low. And so one of the challenges that poses is it benefits the upper end of the economy. Governments are the issuers of most of h these bonds so you hae the odd situation where under the regulatory policy, governments are favored and under the Central Bank Policy governments are favored. And so its not ideal. Its not an ideal policy from the standpoint of trying to bring inclusive growth, people up from the bottom which is a world bank objective. Maria what do you think the impact of Christine Lagarde coming from the imf going to the ecb will be . These going to become the president of the European Central bank. Theres been commentary about that, saying shes not an economist. Shes more of a politician. What kind of a sentiment will that bring with her in the chair at the ecb in terms of stimulus . Will she buy equities, for example . I dont know what her policies will be. But i know that she really is looking to have a europe that can grow faster. You know, theyve really slowed and they dont have the policy reforms that would move them forward. One thing ive learned over this 40 years doing Development Economies is leaders matter and the policies matter. They have a choice of whether they want to change to more growth oriented policies. So one of the challenges is for europe to find that direction and get out of the rut that theyre in. Maria youre right. But arent these issues around fundamental federal policy as opposed to talking about national policies, as opposed to of Monetary Policy, right. Shes taking the helm at the ecb. There are issues around labor, around the workweek in europe, i mean, those are policies that would likely be dealt with country by country and isnt that the real problem . And also the European Union. So some of it in europe is country by country and then theres also the issue of does the European Union as a group choose a direction thats more toward growth. Youre right that its a lot of it is to do with structural reform. The Central Banks are trying to have probably trying to have a Monetary Policy that fits in with the european policies of the nations. So everyone can encourage that direction of more growth, not only in europe, but in china and i work a lot on developing countries. In fact, most of my time on that. And id like to see countries do much better, Good Development outcomes is a goal. That means including women, for example, in the economy. Ive been happy to see some of the positive changes in that direction. That requires legal reforms by governments that then allows and enables a better environment for growth. Maria what else have you been working on at the world bank. Give us your priorities. Well, priority is Good Development outcomes. Id like to see quite a few countries around the world do better, and do well. That means more investment and that usually means a better private sector environment and you can look at each part of a countrys legal system and say what is it thats not encouraging enough for private sector investment. So we have a lot of people looking at the specific policies of countries and then working with the country to try to find better path forward. One good news ill point out is around the world many developing countries or several have found good, strong leaders that really want to make changes in their country and bring people up from the bottom, allow private sector growth in their countries and so im encouraged by that. There are opportunities to take for the world to encourage and take advantage of it there. Maria well see. Its been certainly tough for europe to generate any growth. So well see if any policies change. David, its good to see you this morning. Thanks so much. Good to see you. Maria coming up, esports helping the retail apocalypse, the booming gaming industry, weve got details. Baker mayfield hanging out with with americas heroes, he took time with special fans. Well tell you about his act of kindness coming up next. I aint here for a long time. Im here for a good time. So bring on the sunshine. To hell with the red wine. Pour me some moonshine. Dear tech, lets talk. We have a pretty good relationship. Youve done a lot of good for the world. But i feel like you have the potential to do so much more. Can we build ai without bias . How do we bake security into everything we do . We need tech that helps people understand each other. That understands my business. Weve got some work to do. And we need your help. We need your support. Lets expect more from technology. Lets put smart to work. Maria welcome back. The future of Sports Television and something new for Washington Redskins fans tomorrow night. Jared max with that and a lot more in sports. Jared good morning, maria. Legalized sports gambling in 10 states, more on the way. Well get a glimpse into how we may consume sports in years to come as the redskins preseason opener tomorrow night will include an alternative broadcast on nbc sports washington plus. This version will be interactive and offer viewers the chance to win money by accurately predicting what happens in the game. It doesnt cost anything to play and those who get the most correct answers each quarter win 1,000. Viewers will be asked a variety of questions like maybe who will have the most rushing yards this half. The redskins will be the nurse nfl team to do this in a a live game broadcast. Future home of the la rams and chargers has the First Corporate charger. They will partner with American Airlines to put the name on the two plus acre plaza that will serve as the main entrance to the venue. Its set to open next july. And hey, lets give it up to Baker Mayfield, starting quarterback tore the Cleveland Browns at practice monday, baker hung around and would not go until he had signed autographs for every United States Service Member who had attended the Cleveland Browns practice. Give it up to Baker Mayfield, a lot of high hopes for the Cleveland Browns this upcoming season. Maria i like the fact that he wouldnt leave. Jared and theyll just sit there and keep on signing, a way of saying thanks, and somebody that has the perspective of knowing without the work that these people do, he couldnt do what he does. Maria on the nfl, they bought a caming company, right . You knew they would be invested and pushing gambling. Jared how about how quickly the tide is changing in all sports where were seeing this, the embracing of gambling where its going to be part of the profits and well be talking about point spreads. This what is the redskins will do on nbc sports washington plus, it will be a way to kind of get in but before you know it, this is all thats going to be talked about. Dagen nascar needs to do it essentially to save the sport. Youre at a racetrack. There arent horses. Theres horsepower. And it just seems to make so much sense that you could have gambling facilities at every track, assuming that its they have to work out the legality in all the different states. Why they dont do it i have no idea. This is a sport in jared same reason its been outlawed so long, because of the fear of integrity, how long before wevseenweve seen dagen nascar might go out of business if they dont turn it around. Jared those are strong words but i think theyre pretty true, i dont know about out of business. Dagen declines in sponsorship, theyre trying to bring this together and sell it, based on what i know. Maria when we had tim ellis on, the chief marketing officer of the nfl, a month ago, he said that one of the ways theyre reaching young people is through gaming. And through gambling. Thats how its sort of part of the strategy to reach to different audiences. Jared its a different time when we just rooted for teams, now we root for players and everything else. What does it do for fantasy football . Does it take over. Jared maybe a little bit. Thats for the real geeks of the sport, the ones who want to follow it and make believe theyre general managers and feel good about making the right picks. Maria. Maria catch jareds spos reports on sirius xm 115. Coming up, the booming gaming industry influencing other markets as well. Well get into it when we come back. Stay with us. Pair yo. Paranoia, paranoia, everybodys coming to get me. They never met me. Have debt we might d ie with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. You can get your Interest Rate right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. Theres a company thats talked than me jd power. People 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. To the wait did frowe just winners. Prouders everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy an eligible phone. Click, call or visit a store today. Maria welcome back. Real estate and and esports. A growing number of real estate owners are looking to drum up business. Joining us now is what sa hasam. Tell us whats going on in real estate. Youre really seeing the evolution of retail in particular, weve talked several times in the last couple years about how the death of retail in particular is way overexaggerated and just as much as there are problems within traditional retailing, new concepts are coming in. This is another wave of that evolution. Weve seen instore entertainment, lie lulu lemon he yoga studios and restaurants. Thats a new wave of reaching the target audience, especially younger people, now has a new wave and that is esports as another kind of channel to create not just an experience, maria, but also a community of people that are gamers, are now starting to really appreciate the idea of being together with similarly motivated people and likeminded people to enjoy this experience and retailers like you said, hotels and other forms of Real Estate Developers are really taking advantage of it. Lindsey bell here. Im just wondering, adding these experiences, its clearly what the consumer wants but is it driving sales . You mentioned lulu lemon having yoga classes, are they going just for the experience or are they buying product as well . What weve seen so far coming from the restaurant revolution, coming from the experience revolution, that a lot of Smart Developers have implemented over the past five years is that it is driving sales. People come for the experience but while theyre there, theyre actually purchasing something. The home depot example is a great one where online ordering and local pickup has been studied and translates into additional sales. The workshops that home depot holds turns out to be a very good program for additional instore sales. The surviving retailers, now the thriving retailers are the ones that combined instore offering and experience with an online presence. Barnys for example just filed for bankruptcy because they were too slow to adapt to that versus a nordstroms that has been a leader in creating an omni channel online and physical store combination for the customer experience. Maria thats an interesting comment. Because when barneys filed bankruptcy they filed yesterday morning, the company faced declining sales and higher rent but youre saying it was also some missteps in terms of doing the omni channel, in terms of getting themselves out there online. I am. Those two other factors that you mentioned clearly play into it. But had they been ahead of what was happening with Consumer Preferences and the importance of really targeting the right audience, you know, retail has gone from general merchandising to very targeted merchandising and experiential component that is evolving across the whole spectrum. Its just not limited to Department Stores or apparel. Its across the board. Dagen its dagen mcdowell. From a real estate perspective, is barneys unique, though . Im sorry, dagen, i did not hear your question. Dagen i said is barneys unique from a real estate per spec . Perspective. It looked like ani an albatros around the companys neck. Is there any other retail stories or chains that would be facing the same problem . I think there will be more. I do think very high priced leases in marquee locations are a big drag. The smart retailers can offset marquee flag store costs by having been innovative in their other franchises or other locations. In other words, you have to have a loss leader if youre going to have a Flagship Store and have that presence in a very important market like a manhattan or fifth avenue or wherever it is or any other market like that. But the offset comes from innovation and higher profits and lower cost in other stores and other parts of the portfolio. Maria than so much for joining us. Great to talk with you. Thanks for having me. Maria still ahead i hit down with 2020 president ial candidate, telsey gabbard. We talk tech bias and her 2020 campaign, next up, right here. But perhaps this year, a more exhilarating endeavor awaits. Defy the laws of human nature,at the summer of audi sales event. Get exceptional offers now. Us. Im maria bartiromo, wednesday, august 7 top stories 8 00 on the button China Central bank set can go yuan above 7 level still low not scene since 2008, this morning, new numbers show u. S. Is collected 63 billion dollars, in chinese tariffs through the month of june, that is from treasury markets this morning are higher, trying to add on to yesterdays gains with a look what happened in the last 30 minutes dow futures turned negative down 13, 17 points s p down a quarter point, and nasdaq is meyer holding on to gain 6 points, market was higher pretty much all morning this morning, and has reversed course, yesterday, the market was able to gain back some of the losses, suffered during mondays broad he selloff with dow industrials yesterday up 311 points s p up 37 nasdaq was up 107 more signs of a slowdown in europe, take a look at Global Markets european indices higher across the board, despite that germany reported Industrial Production was down, more than expected in month of june it was down one and half percent monthovermonth germany dax write now up 121 points almost over 1 higher, in asia overnight markets slight losses except hong kong, as you can see, there, fractional moves, three Central Banks in asia cut Interest Rates more than expected one people talking about is thailand down a half point, 50 basis points, also a cut in india as well, disney reports record revenue but profits did take a heat theme park sustains declined ready to shave 40 points off dow industrials at open more on that coming up that stock down better than 4 , how disney plans to make new profits off old fox titles, tesla safety claims under fire, agency accusing automakerlying, all those wednesday morning joining to break it down dagen mcdowell, former u. S. Army special operations Strategic Advisory brett is here and investment strategist lindsey bell great so, so far. Good morning. A lot happening. I am not surprised to see markets turning down a little bit here, especially after what weve seen last couple days between u. S. And china and trade and currency wars, everything else, and Industrial Production number that came out of germany i know those markets up today but that goes to show how the trade between u. S. And china and slowdown in china in particular being impacting the world. Interest rates coming down across the world three rate cuts setting the tone i won if market turned because disney worsened you are absolutely right. It was up 3 even before market was up so things are really worsening down 58 points on dow industrials. Right Central Banks your point many are easing i think more than 20 traditional Central Banks easing Monetary Policy looking to the fed to easy policy we have ammo with regards to Monetary Policy i dont think necessarily going to spur spending capital, business spending dagen you were talking about today what we need to pick up dr. Global economy forward. Dagen President Trump wants Federal Reserve to fix problems he created with trade fight right or wrong, if in any case the drag on Manufacturing Activity this year, has been a drag on Business Investment, another quarter point cut if that is turning that around. Maria we will take keep talking about that joining the conversation this morning, 2020 about democratic president ial candidate hawaii congresswoman Tulsi Gabbard here coming up this morning, live to you can at a about the 2020 race, also top sfoir President Trump is headed to dayton and el paso today, days after Mass Shootings in cities many 2020 democratic hopefuls making feelings known about this trip blake burman live at the white house with the very latest good morning. Good morning to you as well President Trump the first lady will leave white house next hour to visit this is communities, impacted by most recent Mass Shootings, in this country. First, the president and first lady will headed to dayton, ohio, nine people were killed and 27 injured after a gunman opened fire, late at night in a busy entertainment district, then, el paso, texas, 22 people were killed 24 injured when a gunman opened fire in the morning, at walmart store, the white house says part of the president s trip is meant to bring it out unity. And condolences, quite frankly, offer thank you appreciation to those who first responders, lives on line to take out shooter so quickly. Reporter in lead up to trip the president took to twitter to criticsides beto orourke says president should stay away from El Paso Orourke used to represent that district in Congress President tweeting quote beto phony names to indicate hispanic heritage orourke embarrassed by my last visit to the great state of texas where i interested him more of embarrassed 1 democratic primary should respect victims and Law Enforcement, and be quiet. Orourke responded writing on twitter quote 22 people in my hometown are dead after an act of terror inspired by your racism he will will not be quiet neither will i white house not released compact details where the president and first lady will head, once they get to dayton and el paso normally do not do that, due to security reasons, when the president does visit those communities, today maria it will be the 6th time in the Trump Presidency that he will leave the white house to go to a community, impacted by a mass shooting. Maria blake you are right jack brewer texted me earlier said talking about shootings to point out there were 51 shootings in chicago, and baltimore 8 people shot a day in chicago northeasterly 4 a day in baltimore, blake burman thank you very much for that joining us to talk more about above is former chief of staff under bill clinton and the chairman of mccartilagey associates, good to see you also a thanks for being here. Maria, good morning. Should 2020 candidates be criticizing President Trump for going to try to show his condolences to victims of shootings . We have a long history of president s engaging with people who have been affected by a National Tragedy. Dating backs occupies Ronald Reagan after challenger incident bill clinton going to whole city important moment in his presidency, about obviously, the most perhaps riveting president george w. Bush going to new york, after 9 11 certainly important moment. In our history and his presidency, president obama going to chaerlstop after the tragedy there there is a trajection here i think time to lower the rhetoric i think senator klobuchar among others hit about right tone here i think it is fine to express concern and find express views put away tweets concentrate on this tragedy, and show our sympathy condolences. Maria that what is the president is trying to do. Well, i think that is that is what he that is what he will try to do i think he will have some o some difficulty on that lets see how he handles it but i think there is a tradition i think he is doing the right thing, i would say lower rhetoric concentrate on tragedy and condolences then talk solutions. For sure. It is so disheartening to hear guys like beto orourke who tr problem in this case to say president of the United States is not welcome in that city, i mean he needs to show, some leadership here the president coming down to city, helps you know, a little bit to ease some peoples concerns, and time and time again, the president repeatedly forcefully denounced all forms of hit a called people together in bipartisan manner interesting that news tried topin both shooters as Trump Supporters yet we found out in ohio, within last 24 hours that the shooter was Elizabeth Warren fan, not a not a right wing right supremacist as some are talking i am curious how do we put aside these these issues and focus on bipartisan unison put together a strategy that helps stop attacks in the future. To be clear in terms of media responsibility now they stopped stalkitalking about it t talking about shooter a trump supporter now we learned Elizabeth Warren supporter we dont see it in the news anymore. Precisely. Well, that thats a lot to unpack, let me respond to your questions. Number one, i think, a lot of people would not concur not agree with one President Trump has not been divisive in many cases there are strong feelings clearly couple of the we cant den that so i think that is why he it will be more difficult for him than perhaps other president s had in terms of unity but your point is a fair one i go back to my very my very basic point, this is a National Tragedy. We dont have all the answers. Right now we need to express our grief and concern, and then we need talk about the solutions. I think whether the president can demonstrate that kind of empathy that kind of trust and leadership, remains to be seen. You make a fair point about the country at least coming together, at least coming together. On some of these issues even we have other disagreements on other policy issues. But i think in our country it is filled with good decent hardworking people they deserve leadership from both sides of the aisle. Term of orourke this is very personal with minimum expressing that you made your points i take your point. This is very experimental feels very strongly about it whether right thing for him to do, is i think that is that is that is individual opinion people can make their own judgments. Dagen i want to point out something really fic as a point of fact, that in beto orourke tweet referencing the the murderer in el paso President Trump that murder inner his manifesto said his views pretate pr trump bat bait would even know if he read New York Times they wrote that monday, so again facts matter. And their paltry paltry few facts coming from a lot of people, about the detail what two murderers did and background. Maria at the same time mac youve got details from congressman castro he is facing serious backlash for his tweet, that it named dozens of texas voters donating to trumps will he Election Campaign castro twin brother of 2020 hopefully Julian Castro Campaign Chairman refusing to containing tweet down, he is basically, trying to out donors for sprupporting President Trump i assume looking for somebody to pick up ball release draes phone numbers so people hear from the left. Well, maria as you know, contributors are Public Record probably some information about them is also Public Record under our campaign laws. Again, i think this is not the timing of the release of those donors i dont think is particularly good this is not the time to get into politics, my strong opinion i really think i will leave it at that i think that is enough said in terms of how to approach this situation. Now, how others choose to do it that is that is their decision from my my standpoint i feel very, very strongly National Tragedy loss and weve got to approach it in a very human caring way then talk seriously about what can be done, i think governor dewine confronted that in ohio, a good man i know mike, like him respect him. Being he confronted that in ohio. People want the congress the president , to come together, and address this issue. And the president tried that as well dagen right . He is talking about increased background checks, the bump stocks, as well recently. Dagen with an executive order improving congressional action database for background checks i think congress the president would sign off on this will do something on red flag odds or Domestic Violence protection orders related to guns lets individuals get guns out of hands to people a danger to themselves or others and reduced suicide rates in place for years connecticut indiana one in indiana passed 2005 state mike pence used to govern. Thanks so much. Thank you very much nice to be with you. Maria to you mac mclarty ing down with 2020 democratic president ial candidate hawaii congresswoman Tulsi Gabbard as well as her lawsuit against google back in a minute. Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. 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Cheryl the stock up 5 , as you can see, right now to Company Secondquarter results blew out the street estimates, closed adjusted profit 1. 89 a share revenue jumped 35 more than 63 billion, company also full i cant year profitoutlook raised. Different for disney sharply lower the results missed expectations following the purchase of entertainment assets from 21st century fox down more than 4 1 2 right now dragging down dow we add but later note disney planning rebut of some classics. Ahhhh yep bob i go other said home alone remade for streaming services to launch november planning to redo night at museum and cheaper by the diseaozen. Highway administration pumping brakes on tesla claims made about safety of the model 3 cease and desist was sent to elon musk in october, calling for company to say that the model three had lowest probability of injury of all cars the Safety Agency has ever test they are disputing that bloomberg reporting agency going to ask the ftc to investigate whether statements were misleading tesla lower premooshth more than a quarter percent. Apple adding restrictions, to apps that can make voice calls over internet think of facebook, messenger whats the app, it is connects the technology can be used to allow the companies to collect date apple reportedly going to cut the feature off starting with ios 13 update coming out this fall, of course, all about privacy right now when it comes to phones and our scomrooz su. Insure is talking with Tulsi Gabbard. Soaring to top of Google Search results following second round of debates new members smo her struggling to gain support ahead of stage in september she will join me live later this hour weve watching markets futures near lows of the morning take a look what occurred 0 minutes treasurer yields sliding ten year at 1. weve got ceoff weighing in with outlook stay with us. So. How are you feeling . On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. News markets taken a turn for the worse futures now down about 100 points take a look down 96 s p down 8 nasdaq down 13. This coming as the yield on the 10year treasury is tumbling it is no i 1. 64 , joining is write now is ceo of kbw tom great toef you this morning thanks for joining us. Your firm obviously, the expert firm in terms of financial Mergers Acquisitions you havedone seven out of 10 this year your reaction to where yield is impact on banks. Well it is it will be a negative on banks Earnings Growth Going Forward if it stays here two things to the bank number one is it will have negative implications for Net Interest Income Earnings Growth what is signal sending about future and economy, in the second inquiry earnings showed no signs really of distress pretty good Slower Growth pretty good. What did we learn on banks. Banks are still very about profoundly they have got most capital theyve had in 80 years really no signs from an industry of any credit problems, so if you were to take a snapshot of the Banking Industry, in the Second Quarter, you would say all is okay. So all talk around yield curve about what might happen not what has been happening. I am going to jump in speaking about what might happen with yield curve inversion between 10 year and three month is 40 basis points, i think the widest in a long time, wouldnt that say about what fed is going to do is reminder of this year capital out earlier saying they could we could see as much as 100 basis point cut for the fed to kach up with markets are. Interesting, because i personal believe a lot of market has adopted a more bearish view of the economy and has been looking for accommodative fed we may get if you were to ask me for personal opinion i think a lot of stocks are baked in for four 25 pays points cut that could be a surprise in what do they know we dont know talking about economy growing unemployment 50year low. I read one of the fed governor speeches this week, i thought it was very interesting said conversation was around have we has the fed bought enough insurance for 25 base point cut i think comments maybe some criticism was that, the fed moved too quickly on increases i wonder if that will cause them to move more slowly on increases to be a little bit more data based in terms of direction. But one of the problems, is that the yield curve between the 3 month and 10 year, is inverted at wide evidenced margin before financial crisis 2007 justed by a on that makes not impossible very difficult for banks to make money. Because, again, you make loans on long end you borrow on short end, with that is inverted that alone would be enough for Federal Reserve to act on short term Interest Rates it seems you see panic buying in treasury market, you see the 1. 64 at any yes, sir long bonds 2. 16 on yield record low for 30 year is 2. 1. If you watch that that is a sign of well quite frankly fright in markets you can take a look at that we are only very short ways away from the alltime low yield on 30 year. There is no question lower rates flatter yield curve inverted yield curve make bank Earnings Growth harder over time about about will be a grind on profitability, i permanent dont think it is overnight trauma for banking i think the Banking Industry is very liquid will adapt has plenty capital will banks be a little less frofbl that happens it will. The question how long does that condition continue. So i think the Banking Industry is extraordinarily sound, and maybe they will earn a little less money but the stocks seeing how they have been trading i think are pricing in something worse. Maria what about u. S. Versus europe . Because overnight we had three Central Banks cut Interest Rates. India thailand, you are looking at this race to the bottom and now there is a conversation happening thae. Cb once Christine Lagarde comes in is going to start buying equities what began they do with rockbottom levels dont have a lot of wiggle room talk about europe versus u. S. What ecb should do. The first thing to get to conversation we were just having europe had a negative Interest Rate condition for a while i understand last week maybe a trillion dollars of more Government Debt has gone into direction of negative Interest Rates, we have been seeing european banks report as recently as today the negative Interest Rate environment is very hostile to banks, and i think my opinion is as you need a strong Banking System for Economic Growth to continue on a sustained basis. And were not really one hundred percent there yet, with the turn that weve take place remediate we thought we were coming out of that period, now looks like we made a turn go back into something that will be a harsher condition. At block rock rick reader with us a couple weeks ago, you have done sen of 10 large bank emergencyers more consolidation in banking obviously, not larger ones. Correct, two things, one is scale is working in the Banking Industry, the bigger banks are becoming more profitable than smaller banks, hasnt happened in a really long time. So there are benefits to scale right now. Number one. Number two, is the crapo bill that passed last year removed abilliondollar cap for intense regulation, that is really a game changer we think going to allow those banks, in that asset size to stand up create regional champions to try to compete with bigger banks. We will leave it there tom great to have you on the show you the so much, from kbw. , 2020 vision Tulsi Gabbard dominating going most searched candidate after last round of debates in detroit new numbers show her struggling to gain support ahead of next debate hardhitting comments against Kamala Harris right after this break. Stay with us. Fun fact 1 in 4 of us millennials have debt we might die with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. You can get your Interest Rate right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. maria well well good wednesday morning. Thanks for joining us. Im maria bartiromo. Futures have reversed direction this morning, they are headed lower, we are looking at the market down in triple digits Dow Jones Industrial average down 125 points s p down 12, nasdaq down 25 this is the 10year treasury, to 1. 65 moments ago yielded briefly touched 1. 62 the lowest level since october 2016 yields across the world are crashing, and that is unnerving stocks top story this half an hour big tech crackdown, President Trump, slamming google and ceo amid al investigations of anticonservative bias, the president says the administration is watching google very closely, back in june i spoke with president about legislating Technology Like google and twister watch this. Twitter is is just terrible what they do, they dont let you get the word i have had so many people come to me, sir, i cant join you on twitter i see what is happening one hundred percent. Would you rather see competition or do you want to see legislation, coming down to actually you may need legislation in order to create competition. Maria joining me right now hawaii congresswoman 2020 president ial candidate actualliesy gabbard good to see you thanks for being with us congratulations to you success you are suing google right now for 50 million dollars, tell me what happened. During the first debate, and the hours that came after it, we were prepared with google ads the most searched candidate in pain of the night, when all of a sudden google account shut down without any explanation or how to get back up later reinstating after that critical window closed again without any real explanation. So we are suing google because of the power that big tech monopolies have over influencing our public discourse, our freedom of speech and ultimately our Fair Elections because if they can do this to me as sitting member of Congress Running for highest office of the land that means they can do it to Anyone Running for office any level in this country or any person, if they dont like what you are saying and this is this is really not about me it is really about American People, and about standing up for protecting our freedom of speech, whether we agree or disagree with that speech this goes to the core founding principles of our country. And they should not have pour he to be able to do that. Maria what is the answer here this is an issue i think that brings together both sides youve got like Elizabeth Warren, and ted cruz wanting a breakup of so he will companies you see the president obviously, also saying he is watching google closely, these companies have more power today than ever had what do you want to see how is this going to change. 88 of all internet searches in United States take place in google. 92 in world so when you look at monopoly like google total control what pops up when you search this is what were talking about, being two approached that we need to take one is to break up, big tech monopolies that is exactly what they are. And also look legacilatedively what transparency oversight accountability in place to make sure there is not frifrnthr infringement on freedom of speech and fair and transparent. There is a movement upset about google not working with pentagon because of the immigration policies and choosing to work with china inadvertently helping Chinese Military this is what peter thiel has been saying as well your thoughts on that because it is more than just censoring peoples opinions on things, it is also privatization breaches and china situation. Yeah, look i think important for us, from our government and from our regulatory standpoint to look at what is in the best interests of the American People. Making sure that we are protecting those freedoms and our Civil Liberties enshrined in constitution may be being sure our decisions are made with National Security and in forefront. Maria would you like legislation around this. I would. Okay a quinnipiac poll out shows joe biden leading National Plea among 2020 democrats Elizabeth Warren Bernie Sanders following your polling 1 with Julian Castro and klobuchar, 10 undecided what are you going to do about this how are you going to continue to resonate you met forgiving goals in order to get onstage next time where are you we can see how impactful debates can be this is why important we are continuing to build our support weve gone, way past the donor requirement when he is 130,000 individual to qualify for next round of baebz looking forward to next pronounced of poll we hope to be able to meet that polling threshold as well what this comes down to is work doing every day to reach out a to voters, directly to voters, across this country, let them know who i am why i am ring for president running for president why i am best requested to serve as president commander in chief. Why are. You experience i bring as soldier served over 16 years Army National guard deployed twice to middle east for nearly seven years in congress have been very focused on National Security. In served on Foreign Affairs Armed Services Homeland Security committees, understanding, the cost of war, the toll that it takes on our Service Members and families, and the toll that it takes on every single american in this country when we look at the over six trillion dollars taxpayer dollars we have spent on wasteful regime change wars since 9 11 alone dollars should have been should be used Meeting Needs of the American People here at home. You want to take troops obviously, back from afghanistan. I want to bring our troops home from afghanistan it should have happened long ago right now in afghanistan, we are spending four billion dollars every month four billion dollars, when you look at folks in communities across the country dont even have clean water to drink, when you look at infrastructure needs in our country, when you look at the lack of Affordable Housing there are so many things that we need to address, weve got to get our priorities state and make sure that we are using our military for the function that they intend which is to keep American People safe. And investing our limited hours empowering serving needs of people. You talk about things americans need yet when demonstrates including yourself were on that stage asked the question are you willing to give health care to illegals, you raised your hand. I did not. You did not. I think it is important that we make that we fix immigration system i do support making sure that weve got Quality Health care for everyone who needs it regardless of whether rich or whether they are poor. We should also make sure that we have a private insurance option for those who choose to pursue that but rather than putting a bandaid on a all these different immigration challenges we are facing, we need to fix immigration system past comprehensive Immigration Reform so we dont have over 10 million undocumented People Living in the shadows in this country. Kinds of things that differentiator you from others onstage the fact you understand that americans should come first, in terms of health care, as opposed to illegals what do you want to do with that the issues you think going to get you to 2 . I think it is a matter of looking at what is in the best interests of the people in this country. And reforming the broken laws that we have including immigration laws, that are disservice across the board disservice to people who are trying to seek asylum in this country a disservice to the American People those trying to come into our country. Legally. It is impacting our economy, there is a huge impact on our borders with inhumane conditions there, so we have to make sure that we are living up to values that we represent which is having a safe and secure border, we will have a humane immigration policies that best serve our countries. So why is it that you and your colleagues in congress have been unable to fix the loopholes . This is the issue that is bringing all these people from Central America to the border it was incredible, the the children that i witness does coming over border alone continue find mother so many stories i can go on, what do you want to do about loophole the florez agreement asylum standard how come congress has not been able to change these. It comes to partnership bottom line petting their political treasury ahead of interests of people ahead of bringing about solutions to challenges we faced for a long time that are only getting worse because of that, inaction, i have worked in a bipartisan and many different issues in congress, there is great opportunity there, we need strong leadership willing to put people, ahead of party so we can get the job done. Maria for a long time, nancy pelosi and many colleagues on left were saying not a crisis it was a manufactured crisis. Now they are obviously, seeing that is a different story in fact i think after our border trip we witnessed live on air a pivot i think the tone changes it was so obvious why you see it as a crisis; correct . I do, i have. Again i think this is important for us to move past the partisan politics come together as country say we need to solve this problem for what is happening at the border also what is driving people to walk thousands of miles to leave homes put the lives childrens lives at risk and reform our entire immigration system. You have got a great grip on issues at hand what is important to the American People. But youve got to be here you are hosting a you town hall in hampers today then set to take two weeks off to serve in the national guard, are you worried that you are going to be out of the loop youve got to be in the faces and peoples faces to sfaresonate t i am privilegedable animal to serve our country, so i am not putting anything aside to be able to go and serve my country i will continue that service as i am, on this campaign, this time going to be in form for a couple weeks. Maria thank you for your service to our country. Thank you. Maria we all appreciate it i know in this building and our viewers as well you tweeted about Kamala Harris yesterday, i want to ask you about that, you know, takedown if you will on debate stage kamalas entire Campaign Based on a lie you wrote as ag of california fighter for oppressed criminal Justice Reform but record shows her policies exemplified worst aspects of criminal Justice System two of you had that heated backandforth during last debate tell me what you want people to understand about Kamala Harris. Comes down to leadership, you know what kind of leadership would she bring, what kind of leader was she as attorney general in california. And pointing to truth the facts. She claims to be very proud of the record that she had, as attorney general in california. I pointed out some of the huge problems with the kind of leadership that she brought where she claims to be champion for people instead made decisions that caused more harm hardship and suffering for people in california and i gave some examples, in the debate. She needs to answer to American People on these facts. Great to have you this morning thanks so much Tulsi Gabbard joining us there we will be watching you. Thank you. Well be right back. Liberty. Liberty. Liberty. Liberty. And my side super soft . With the sleep number 360 smart bed it can. With your sleep number setting. Can it help keep me asleep . Yes, it senses your movements and automatically adjusts to keep you both comfortable. Save up to 600 on select sleep number 360 smart beds. Only for a limited time. Maria welcome back, futures plummeting this morning reversing course entirely from earlier as we told you. The yield on the 10 year is 1. 64 , earlier it hit that now 1. 66 jackie deangelus on floor of the New York Stock Exchange looking at all movers jackie good morning to you. Good morning, maria. The equity markets is looking at the bond market seeing that yield drop a little bit of a flight to safety in 10 year futures reverse course there is one bright spot out there that i want to tell you about is Weight Watchers a beat on earnings light on revenue strong growth this year or quarter also raised its fullyear forecast, so the market like that, meantime watching shares of walgreens as well the company saying it is going to close 200 stores here in the United States after it already told investors it was going to close 200 in europe, the company says this is part of a costcutting initiative wants to be leaner more efficient new strategy Going Forward should not be disruptive to users. Spending a billion dollars to do more more dog ears, phony pictures people love to use snap raising a billion dollars shortterm debt to give you more augmented reality snap had a run there back to you. Maria jackie thanks markets low of the morning down almost 200 points on Dow Jones Industrial average, as you just the saw, President Trump just tweeted says said this three more Central Banks cut rates our problem not china we are stronger than ever, money is pouring into u. S. While china is losing companies by the thousands, to other countries. Currency under siege our problem is Federal Reserve that is too proud to admit mistake of acting too favt tightening too much that i was right, they must cut rates bigger faster and stop ridiculous quantitative tightening epg now yield ub curve too wide a margin no inflation incompetence terrible thing to watch especially when things could be taken care of we will win any away would be easier if they understood when they dont, the president tweeting about rates right now well be right back. And. Thats your basic threepoint turn. [ scoffs ] if you say so. Im sorry . What teach here isnt telling you is that snapshot rewards safe drivers with discounts on car insurance. What . Or maybe he didnt know. [ chuckles ] im done with this class. Youre not even enrolled in this class. I know. Im supposed to be in ceramics. Do you know room 303. Oh. Thank you. Yeah. Good luck, everybody. Oh. Thank you. Yeah. Thats it. Im calling kohler about their walkin bath. Nah. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call. To save 500 off bath walls with your walk in bath. Or visit kohlerwalkinbath. Com for more info. Maria welcome back. As you know, we are watching markets this morning. We watched a complete reversal of fortune during the program today. Now we are looking at a decline of 230 points on the Dow Jones Industrial average. Things are plummeting fast as Interest Rates plummet as well. The yield on the tenyear note is now at 1. 65 . Earlier it had hit 1. 62 . That was earlier this hour. The president is weighing in. He just tweeted on the Interest Rate cuts we have been telling you about all morning. He said this about the trio of Central Banks surprising markets with rate cuts overnight. We told you hes complaining about the fed and mentioning that we had rate cuts from thailand which cut rates 50 basis points, we had india and new zealand. New zealand cut by 50 basis points, pardon me. It was new zealand with the 50 basis point cut. Lindsey, your reaction . Thailand was 25 basis points. It just goes to show the global slowdown we have been talking about, global pmi, many in contractionary mode, are impacting countries around the globe. New zealand is a big deal because they havent cut by 50 basis points since the great financial crisis. This is a big deal for them to move in. Maria the more we see cuts coming across the world, the more the u. S. Is going to be wanting lowered rates because of the impact on currency. We are getting lower rates, getting lower long term rates which they started falling last fall. The fed did to the president , who was tweeting the Federal Reserve has stopped its quantitative tightening, has stopped the reduction of its balance sheet. Number one. And number two, that the president , you cant say the economy is strong and jawbone about cut rates, cut rates, cut rates, cut rates. What is it . The Federal Reserve cannot fix the problems built on trade policy and the fight with china. Thats just a fact. Business investment falling in the most recent quarter, factory activity down four months in a row. So again, more predictability in this trade fight with china, less mercurial moves like out of the blue 10 tariff on 300 billion of imports and also designating china a currency manipulator at possibly the worst moment, thats whats creating some of the panic. The fed cant fix it. Maria final thoughts from this allstar panel. Stay with us. Fun fact 1 in 4 of us millennials have debt we might die with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. You can get your Interest Rate right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. Can the past help you write the future . Can you feel calm in the eye of a storm . Can you do more with less . Can you raise the bar while reducing your footprint . For our 100 years weve been answering the questions of today to meet the energy needs of tomorrow. Southern Company Maria back with our allstar panel. Your final thoughts . Just get ready for a tumultuous august and september. On china trade war, the president is right to dig in here. To me its larger than trade, larger than the economy. Its about National Security. The chinese are not they are going to continue to steal our intellectual property. At least we can change the calculus. Maria good point. We will leave it there. Great day. Varney Company Begins right now. Stuart, take it away. Stuart good morning, maria. Good morning, everyone. This is extraordinary. The world is jumping into a whole new era of free money, printing money with abandon, cutting Interest Rates below zero. As you tune in, we are in the middle of it all. Start with this. The tumbling yield on the treasurys tenyear bond. Last night it was around 1. 70 . Now its all the way down to 1. 63 . That is a monumental move, rarely seen before. It shows money is pouring into america because this is the only place which actually pays interest