Transcripts For FBC Mornings With Maria Bartiromo 20240714

Reserve, we have the minutes and this was me before liberty mutucustomized the Federal Reserve of San Francisco mary daily says a recession is not eminent, investors look for any hints, we will bring you the minutes when my car insurance, so i only pay for what i need. We get them. We have a rally underway, dow up and this is me now 150 points, twothirds of 1 , any physical changes to this mans appearance are purely coincidental. S p up 19 and nasdaq futures only pay for what you need. Higher by 62. Liberty. Liberty. Liberty. Liberty. Mornings with maria begins right now. Maria big show this morning, can it help keep us asleep . Joining the conversation this yes, it senses your movements and morning pwc partner Mitch Roschelle and wall street automatically adjusts to keep you both comfortable. Journal management reporter host of the secret of wealthy women and now, all beds are on sale save 50 on the sleep number 360 limited Edition Smart bed. Podcast veronica, thank you for plus free home delivery. Being here. Ends saturday. Good morning. Maria we have lowes numbers come on, beat on renew, Ashley Webster he has the numbers. Ashley lets get right to it, on the earnings per share coming at 2. 15, on the revenue slightly 20. 99 estimate was 20. 04 billion, same store sales up, always important to look at the outlet full year, total sales coming at 2 , full year comp sales at 3 , exactly the same forecast that lowes gave in the First Quarter, they say they are actively hiring full and part Time Associates at store distribution centers, of course, we want to hear what they say about tariffs, yesterday home depot said that they did lower outlook on tariff worries, lowes just saying here despite lumbar deflation and difficult weather, comparable sales in all 15 geographic regions of the United States in lowes, beat on bottom line, basically what was expected, u. S. Comp sales were up 2. 3 as well in Second Quarter, guys back to you. Maria stock on the move, gain of 3 and a quarter percent right now, joining us for reaction to lowes earnings, senior managing director, joseph feldman, good but how do i know if im im getting a good deal . To have you on the program, i tell truecar my zip joseph, thanks so much for being and which car i want and truecar shows the range of prices here, your Quick Reaction to people in my area actually paid for the same car lowes reaction. So i know if im getting a great price. Very solid results, a little better than expected, we are this is how car buying was always meant to be. Quite pleased, lowes had to put this is truecar. Up with the numbers after the First Quarter miss that they had and guide down from last year, to do what they did today was exactly what they needed to to get people confident in the stock again. Maria Comp Store Sales better than expected, best than estimate and the numbers on the earnings and revenue beating estimate. And their guidance was more robust than you had home depot yesterday that was timid with the guidance for the rest of the year, im curious joseph if one is more optimistic than the other versus home depot yesterday . I think home depot took optimistic approach to the year and i think they realized how things start today slow down more this year and with tariff pressure and lumbar price deflation that they had to adjust their number, lowes took maria welcome back. Good wednesday morning, a conservative approach everybody. Thank so much for joining us. Especially after the First Quarter where they set the bar im maria bartiromo. It is wednesday, august 21st. Lower, todays results, you know, its actually quite signs of strength in retail this similar when you look at the morning, target with a double samestore sales forecasting, so beat, raising full year earnings pretty god results from the home guidance. Lowes also raising expectations. Improvement space in general. Stocks are surging in the joseph, are you seeing premarket, up 11 and 12 apiece does this basically show that on target and lowes. The consumer is still very President Trump looks to bolster strong . The economy, meanwhile. We think that consumer is pretty robust, very strong might the president is pushing off fears of a reexceptio re rece. Be a stretch, i feel like, you know, we are seeing kneebased he says hes looking at a pay retail do well, we saw that from roll tax deduction. Walmart last week, home depot markets are rallying this morning. Lowes, weve even seen some of futures indicate a gain of of the other discount outerred 157 on the dow. This after concerns over trade they have not done as well and recession fears led the markets into a broad selloff yesterday following the lately. President s remarks. Maria bottom line, joseph, are the dow was down 173 points at you expecting a recession on the the close, s p was down 23, horizon, this is the worry of nasdaq was lower by 54. The markets, Interest Rates at Global Markets are higher. Low levels. European indices up across the we are not so concerned, i board. Think you get through the fq100 up 85, cac up 75, and the Holiday Season okay, our concern dax index up 118 points. That you get into next year and big news out of italy with uncertainty after the Prime Minister resigned yesterday in what the impact has on the consumer and what that will italy. Shape spending, we are more asia markets were mixed. Worried about 2020 than 2019. S kospi up for a Third Straight maria we will see about that, session. Guns for sale on facebook . Thanks so much. A look at how some people are thanks. Maria stock is up 5 on lowes, exploiting a loophole in money moving to the stock facebooks marketplace to sell because upset over potential of firearms. And school phone ban, cell recession, mitch, you heard joe phones becoming such a big receive say this is basically distraction that one school says what most people say, we dont it will make students lock the phones away. Why its not just the kids that know, we are speculating, it are not happy with the new rule. Could be 2021. The wild breakin caught on camera, a bear raiding the maria exactly. Data suggests quite the fridge. Wait until you hear what the opposite and the market reacts teen did when he found the unwanted visitor in his home. All those stories coming up this positively. Wednesday morning. As investor this just goes to and joining me to break it down, former wall street Journal Editorial Board member, stephen show tie in market, if you listen to people that say moore is with us along with the recession, recession, you could have up day in the market, you wall street journal Wealth Management reporter, veronica miss out. Maria maybe the volatility we saw last week with 800 point dagger and pwc partner, mitch rochell. Good to see everybody today. Selloff maybe has to do with the was that bear getting a a fact that its light volume and beer . [ laughter ] yeah, right. The end of the summer. We dont know what he was getting. Markets looking to bowps back, maria can you imagine coming we have a pretty good rally down from the bedroom and seeing a bear in your fridge . Underway after broad selloff the bear opened the fridge. Yesterday, 3 days of gains [ laughter ] its pretty amazing. Yesterday, look where we are probably thinking youre halling use nateing. Today. Nasdaq up 61, we are watching, hallucinating. Of course, what comes out of the maria coming up this morning, white house, the president tom wilson, chris heisey on the signals future boost to the economy yesterday in form of tax trump economy and investor cuts, the president spoke at the today, and hugo girden and ceo white house, watch. We are talk about indexing and looking at capital gain tax, katlyn smith is with us this payroll tax, we are looking at morning. Dont miss a moment of it. We want to talk about the trump economy and steve moore, i i would love to do something didnt get your take earlier on on Capital Gains, we are talking this tax conversation going on about that, big deal, goes but the top story in the journal, something that weve through congress, payroll tax is been speaking about all day something that we think about yesterday, the president and a lot of people would like weighing all of these new ideas in terms of cutting capital to see that very much affects gains. Its a sign theres a little the workers of our country. Bit of nervousness at the white maria should point out that the house about where the economy is top story in the journal that right now. The president is weighing all of last year, maria, we were growing at 3 . These options to spur the the growth rate has ratcheted economy and largely i think has down to maybe 2, a little less to do with the oversea weakness than 2 . So theres nervousness there. That we are seeing, europe where is the stimulus going to come from . Unable to generate any growth, i think it ought to come from asia weakening as well, how do im with trump. You see it . The fed needs to cut rates now. Right, i think theres the i mean, the fear i think in the weakening overseas, people coming to u. S. For returns, i dont know what the likelihood market is more deflation rather of actually this happening too, than inflation. I mean, theres a lot of talk, they should nip that in the bud. I think thats more important. But i think in the meantime we look, im not against the tax need to think about like if cut. Maria i totally understand there are further incentives, that. I think obviously jay powell further tax cuts, how is that going to play even after made a mistake last year. Hes been behind the curve in terms of reacting. Maria i was surprised to hear december 15th, for example, if we dont have a resolution on the president talk more about the trade war will the tax cuts tax cuts. Here whas he said yesterday at move the needle. Heres what he said yesterday maria good point. At the white house. Were looking at various tax i think its stimulus to try to shape people into realizing deductions but im looking at that theres, you know, light at that all the time anyway, tax tend of the tunnel if you are of deductions. Thats one of the reasons were the view that we are slowing in such a strong economic down, the negative from position. I would love to do something on overnight germany selling their Capital Gains. Were talking about that thats a big deal, goes through 30year bond for the first time with zero yield, this is a new congress. Payroll taxes, something that issuance that German Government way thinwethink about and a lote is selling a bond with zero would like to see that. Yield, so their entire treasury that very much affects the workers of our country. Curve is below zero. Maria steve . Two reactions. One, lets say for the sake of the administration is trying to argument trump comes out for a get ahead of that and stimulate middle class payroll tax cut. I dont know if hes going to do the consumer as much as possible and Capital Gains cut try to it but he talked about that. That would put the democrats in stimulate investment to try to get us robust enough to shake congress in a tough situation. Through this. They keep saying trump is just maria the administration was also talking recently about for tax cuts for the rich. Now he comes forward with a 100year bonds, 50year bonds. Middle class tax cut. You might be able to get Something Like that through the house. Its more likely what trump could do is the Capital Gains deduction, the rate is now 24 , you refinance forever. Higher than it was even under simple math. Bill clinton. Maria including the obama maria that has people nervous and uncertain, the commander in yes. They raised the tax twice from chief weighed in on trade battle 15 to 20 to 24 , a 60 increase with china, watch this. Somebody had to take china under obama. Its the only tax that hasnt on, you know, i read and i see been cut. I love the idea of indexing the economists say, give up, Capital Gains for inflation so that if somebody holds a stock give up on china, china has been for 15 years you dont have to pay a tax on the inflationary ripping this country off for 25 gain. I dont know what you guys think about that trump could make the years, for longer than that and case, this is about fairness. Its about time whether its good for our country or bad for its not fair to tax people object inflation. Our country shortterm, im not a big fan of taxes longterm its imperative that somebody does this because our country cannot continue to pay things that have already been china 500 billion a year because stupid people are taxed. The thing that i worry about as running it. I said earlier is it could be maria that, of course, is the trade deficit with china, highly political because when you think about Capital Gains, 500 billion, you have to admit the president has completely it does look like its only the changed the conversation around rich. The rich and all that stuff, china . Right, no one has really taken this on before and its a but its a good way to get really difficult issue, there investment up. We talked earlier about the isnt a quick resolution, so i problem with the economy right now is businesses are not think people in the market who spending at the rate we want are expecting a quick resolution them to. To this, this was going to be you know, this might be a way to done in 30 days or 60 days, its get some more business spending out there by increasing the reward for investment. Maria it certainly doesnt feel like its the consumer not, hopefully we will see thats the problem especially progress by december 15th, even if we dont, the fact that he with the earnings today. Do you think he risks, took this on is really though, sending a mixed message ifs hes talking about tax cuts impressive. Maria well, as far as china is but hes saying the economys concerned, mitch, they keep fine. A little bit. You know, a little bit. Reneging on bigticket items, i happen to think the economys still pretty healthy. Steal intellectual property, were talking about how strong the consumers are. Havent let up on fentanyl in maria i agree with you. Theres a mixed message. The country. Were only growing at 2 . Supposed to buy soybeans we think the capacity in the assign of good faith and they economy is to go to 3 to 4. Didnt do that. We want to ratchet that up. Maria another broken promises. Maria . We want to bring in grover this is something the president made on campaign trail and fighting hard for it, having impact on markets, having impact norchris. Thank you for being here l. On global economies but no other youre hearing the conversation. Weigh in here. The president is weighing administration has really taken this cause on and i think hes options to spur the economy like using it as a reelection bid saying, we may have a deal, we potential Capital Gains tax, may not have a deal but if you like a potential payroll tax. Want to resolve this issue with whats your view. He put two things on the china vote for me because i will table. The difference between them is do it. That indexing Capital Gains so maria could be, weve steve you dont tax inflation in Capital Gains can be done moore coming. Rallies underway this morning, unilaterally by the president. The Supreme Court ruled that in futures indicating 151point move at upside at the opening of 120002. So 2002. Trading this morning after so thats no longer a legal volatile day yesterday. Question. The president said yesterday i nasdaq up 61, walmart suing can do this myself. The treasury secretary could do tesla claiming solar panels that. The advantage there is once you do it, half of americans plus own home, half of americans plus are in the stock market. You cant argue this is a tax caught fire at bigchain stores cut for the 1 . Its a tax cut for everybody coming up. Over 55 who has held homes and houses and an Immediate Tax cut, very quickly, benefits anyone who is 2 a 5 and starting their life because their assets are worth more. If you go with a tax cut on Social Security as a suggestion, the democrats immediately go not again. Limu thats your reflection. Sure, well pay for it by only pay for what you need. Raising the business tax, throw it right back. Liberty, liberty, liberty, liberty so because nancy pelosi has to agree to any change in the Social Security tax and the democrats have never done that when they had the power to do it, they would just play politics with it. That a handle is just a handle. Chair is just a chair. The president will likely go with the thing where the or. That you cant be both inside and outside. Inflation indexation he can do that by himself without nancy most people havent driven a lincoln. Pelosis permission. Hey, grover, steve moore here. Its the final days of the lincoln summer invitation event. Great to see you. Hi, steve. Look, you sound very confident that the president has right now get 0 apr on all lincoln vehicles the unilateral authority to do this and he has the legal plus no payments for up to 90 days. That seems to be an open question. I want to dig in, get your only at your lincoln dealer. Reaction to because you seem like its an open and shut deal that he can do this. I know the democrats would probably challenge that. So that number one. Number two, what i like about that idea of indexing Capital Gains tax and tell me if im wrong about this is you get an unlocking effect. Now people could sell their sleep number 360 smart bed. Stocks and move into you new you can adjust your comfort on both sides companies and new investment your sleep number setting. Opportunities. Can it help keep us asleep . What is your reaction to that. Absolutely, it intelligently senses your maria by the way, before you get there, you say could he do movements and automatically adjusts it, dont forget, obama indict. To keep you both effortlessly comfortable. And snoring . The payroll tax was cut under the Obama Administration in 2011 no problem. And done. And 2012 to 4. 2 , reducing taxes so you can really promise better sleep. By more than 100 billion each not promise. Prove. And now, all beds are on sale year. It was enacted to encourage more save 50 on the sleep number 360 limited Edition Smart bed. Consumer spending. The question is can the plus 0 interest for 24 months and president do it without free home delivery. Congressional approval. Ends saturday. Thats the issue on the table. Lets take that in the order in with which you asked. One, can the president do it. There was a debate on this in 1992 and some serious lawyers said absolutely like chuck cooper, others said were not so sure. Since then there was a Supreme Court decision in 2002 which answered the only question before, is cost an unambiguous term that an agency cannot adjust. They say it could be historic cost, what did you pay fourth, reafor it,real of cost, cost pls inflation, and replacement cost. There are many ways to decide which one to use. The Supreme Court smacked away hard any debate. Some people think the courts, a more conservative court might want to reduce the ability of agencies to make those decisions. A month ago we had a decision that said nope, were not doing that. So two Supreme Court decisions come in that say agencies have this authority. They have this and cost specifically is not an unambiguous term. Thats why we can say with clarity that theyll politically winplightwhine about it but note success. The big benefit right away is one ceo, fortune 500 ceo told me theres 7 trillion of sticky capital which is land, buildings, other companies that corporations alone, never mind individuals who own homes and stocks but corporations own 7 trillion of sticky capital much of which would be sold. Maria welcome back australia in fact, almost all of which joining forces with the u. S. To would be sold when youre looking at things that are five, protect ships in the strait of 10, 20, a 50 years old. That would raise a lot of hormuz, Cheryl Casone on revenue in a short period of time and take trillions of headlines, cheryl. Cheryl third country to join dollars and redirect it to americanled effort from keeping higher and better use. Iran from attacking oil tankers its deregulation for past in the critical passage, iran purchases of assets and it being blamed for attacks on raises the value of all assets tankers, both may and june, more in the United States now going than a third of the worlds oil forward. The one company that called me about this earliest is americans passes through the strait of for tax reform, the group started talking to everybody in hormuz President Trump slammed the white house. Everybody in the white house is democrats by standing by for it and understands it. Lawmakers key calls disaster for thats not a bad place to start, beginning with the president. Israel. I cant belief we are even having this conversation, where they know people empty closets and attics of all of this has the Democratic Party gone, where have they gone where they baseball cards and art work that are defending two people over the state of israel and i think theyve held onto because of the any jewish people that vote for tax on inflation. Is even Steven Mnuchin in a democrat, i think they chose favor of this. Either a total lack of knowledge i heard in the treasury theres or great disloyalty. Doubts about this. Theres always mnuchins in cheryl president called out the treasury they say it may not congresswoman omar and tlaib, work for them. He said id Like Congress to do Benjamin Netanyahu barred the it but i may have to do it two members to have squad from myself. And he has told m people that he entering jewish state. Now lets talk retail, walmart knows he does have the authority. Again, its clear in legal suing tesla over roof fires that happened at several walmart terms. Maria did you say theres stores last year. Always munch kins in the white house . Im sorry, munchkins from the wizard of oz, not mnuchin. Maria thats what i thought. Accuses tesla as negligence. Muncmunchkins. Youre talking about mnuchin. The munchkins are bad on it. Taking a look at shares of tesla by about half percent in the maria whats your stance on the economy . Premarket and then there was do you see a recession on the this, talk about millionaires, horizon. Its got me baffled. I thought things were going 401 k millionaires keeps really well. Things are going much better growing, thats according to than they were. We were growing at 3 . Fidelity, investors with a Million Dollars, reached record its now moved towards 2 . High of 196,000 at the end of thats not a recession. Recession is less than zero. The Second Quarter, the ranks of it is slow growth, Slower Growth ira millionaires also setting than the economy deserves. New high, the average 401 k theres obviously a lot of concern about the trade war with also increased get this 106,000 china and with tariffs. Tariffs are a tax on the American Consumer and they hurt of 2 , i love when i can say, the economy and they tell every its safe to look at your 401 k producer, well, you dont know this morning. Whether to invest today or not maria first thing that i did when i started working, get the because you dont know what prices will be and you dont know whats happening because of all of the uncertainty. Thats whats spooking business 401 k . I think im almost at a million by the way after 25 years. Investment. As soon as that gets settled, we come to some agreement with china and hopefully with the europeans, that i think youll [laughter] see the economy take off because maria thank you so much. Short break, when we come back the fundamentals are quite the streaming apple monthly strong but why not take advantage of the left claiming price for upcoming tv service with billions of dollars set that the economys slowing to aside for original content, play the card of indexing Capital Gains so we no longer coming up. Tax inflation. The matrix is officially back i say lets take those marbles with classic cast and original off the table and thank the writers, what to expect, democrats for the hysterics straight ahead. About how well the economys doing. Grover, its veronica from wall street journal. If you do these moves now, though, does this leave you with a lack of fire power when things are actually really bad . You need them. Well, you can always do more tax cuts in the future. You could always work with the fed to do a better job. I would start now because it takes a while for people to sell a 50 Million Building in chicago. That p doesnt happen in two months. But i think youll see people move very quickly to sell older assets and move them to higher and better use. So i would do this now and Going Forward the next time theres a tax cut, we need to make sure that this change becomes permanent and in law, not just regulatory. What will speed up all of this action is the democrats will announce when im president ill take it all away. So everyone planning on selling in the next 30 years sells in the next year. Maria grover, its great to have you on the h show. Managingaudreys on it. S . Eating right and staying active . Coming up, the secondhand gun on it market booming on facebook but audrey thinks shes doing all she can its banned. To manage her type 2 diabetes and heart disease, whats being done in response . Thats all next. 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Maria welcome back, apple knew streaming service, apple tv plus, reportedly to cost 10 a month and will launch in november, company set ago side 6 billion for original content, joining us right now cfr analyst, tina and joining the conversation wall street Journal Editorial Board member stephen moore, great to see you, steve. Announcer only fidelity offers four zero Expense Ratio index funds directly to investors. Congratulations on having a Million Dollars on your and we have zero account fees for brokerage accounts. [laughter] maria thats really important at fidelity those zeros really add up. To get a 401 k when you start maybe ill win saved by zero working. Invest early. Every college kid i talk to, start investing early. Maria if you dont do it you maria welcome back. Are giving up the company huaweis chiefer alleging that canada abused her rights. Will match it. Maria i have to get your take Cheryl Casone with details. On all the tax talk, tax cuts, cheryl newly released court what do you think of new Apple Service . I think its phenomenal the documents show she fought way the landscape is kind of efforts by the United States to extradite her after she was shaking out, so they kind of charged with violating u. S. Sanctions against iran. Her attorneys argued she was spending 6 billion out of the gate from perspective, took unlawfully detained at the netflix 10 years after launching vancouver airport and it was likely done at the order of the streaming service to spend that kind of money, now apple is just fbi. Well, citigroup and a french spending that money not just on license and original but bank bnp was mentioned in the originals alone, so that gives you an idea of how the landscape documents were getting, she and has changed dramatically and how huawei continue to deny any the war has intensified. Wrongdoing if the case. They have installed base that well, do cell phones interfere netflix never had but my concern with students ability to learn . Is that you had 10 a month well, one school in california here, you have 14. 99 month says yeah. Officials are locking kids there, you start adding up, when phones in magnetically sealed does the consumer say no more and they stop subscribing to pouches during the school day. This affects about 1700 some of the services . Thats one of the things that we called out, we are coming students. Administrators and teachers say it will help the students. Some researchers say not so from a time where the consumer fast. Taking away a kids phone raises is cutting the cord, the paid tv their level of anxiety. Lets stay in california. Bundle is disintegrating, you two teens had an experience they will probably never forget. Theyre watching tv on a couch will pay significantly lower in a home near lake tahoe. Right now if you were subscribed a bear snuck in and began raiding the refrigerator. When they realized what was to cable tv. Happening, they ran to the next whats fascinating about the story, we have the huge room and held the sliding gluess companies, apple, google, monopolies, theres so much competition now in these areas, door shut with the bear pushing. I mean, everybody is competing with everyone and now apple is one of the kids called his moving into streaming. Mother from the apple watch. Right. She was sleeping upstairs. Why is there monopoly she called police from upstairs. The police came in that, ran the bear off. Absolutely, i mean, its a run of the teens said he heard golden age of television. Foot steps and heard tupperware being opened aggressively behind i think, you know, the price competition is bound to affect him. The bear had taco meat, had ben how the new entrance are going jerrys during this whole to price services, so all of kurfuffle. Maria the bear opened the ice this bodes well for the cream. Hillary . Cheryl had some tacod consumer. Maria what do you think will win out here because weve got disney really empowered now ben jerrys and chased after after the fox assets and all of the kids. The acquisitions, theyve got tahoe, its bear country up there. Maria that is incredible. Great assets there, will disney win that or is nit netflix, one smart bear, knows how to open the refrigerator. Maria unbelievable. Thank you so much, cheryl. We are going to take a break. When we come back, facebook is what about apple . Under pressure this morning. Some people are exploiting a disney plus expect today loophole and selling guns on the approach 100 million subscribers site. What the Technology Giant is potentially by year, 4, 5, i doing about it, next. A heated debate, new have seen numbers for apple as recommendations on the temperature you should keep your home has the social media world well. Its not really at the expense in a frenzy. Find ou what they are. At the particular party, theres back in a moment. Are we out of the woods yet, multiple subscriptions among the are we out of the woods yet services, as far as potential winners, those companies that have, you know, the compelling content, you know, i think they will spend a very good chance and my sense work with disney and netflix, potentially with apple as well. We will see how that goes. I dont think anyone of the services will be netflix killer, the one thing that worries me is that, you know, netflix is starting to lose all of these premier shows to these streaming offerings but theyve seen that coming for quite some time, they we trust usaa more than any other company out there. They give us excellent customer service, every time. Throw in money and netflix i our 18 year old was in an accident. Have to say ive had a usaa took care of her car rental, phenomenal success rate and wall street will pitch in at this and getting her car towed. Point, bun but inevitable all i had to take care of was making sure that my daughter was ok. If i met another veteran, and they were with another insurance company, hits and misses and the i would tell them, you need to join usaa challenges will set in. Because they have better rates, and better service. Maria the numbers you mentioned were the gomez family. 15 billion, thats just one were the rivera family. Company on original content, are were the kirby family, there stocks that you like as a and we are usaa members for life. Result of this . What are you telling clients in get your Auto Insurance quote today. Terms of advice to buy . Your business is up and running, but is it going beyond fast . Comcast business gives you high speed internet. Disney, cbs, listening to we also have Solutions Like powerful wifi that gives your entire business more coverage strategy for combined streaming, and automatic internet backup what i like is the converting of that can keep your business running. And it all starts with our gigspeed network. So give us 10 minutes. Subscriptionbase model, they are dominating so we like that if we cant offer you faster speed or better savings as well, you know, names like than your current internet service, well give you 300 dollars for your time. Discovery essentially, pull off call now to get your comcast business 10 minute advantage. The streaming, you have to be all in and those companies that comcast business. Have content and scale for beyond fast. Mergers or organic stand a good dear tech, lets talk. We have a pretty good relationship. Chance. Maria good to have you this morning, quick break and then youve done a lot of good for the world. Drive get away from privacy, but i feel like you have the potential to do so much more. Mercedes benz accused of can we build ai without bias . Tracking drivers with delinquent how do we bake security into everything we do . Payments using gps. We need tech that helps people understand each other. Target said to report earnings that understands my business. In a moment, we have the numbers weve got some work to do. And we need your help. We need your support. And analysis when we come back. Lets expect more from technology. Lets put smart to work. We will be right back. 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. 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. Maria guns on facebook, facebooks marketplace lets over 2 billion users buy and sell things. But it bans transactions involving items like guns. Now, some people on the site are using a simple trick to get around the ban. Joining us right now is the cyber guy, Kurt Knutsson joining us. Great to see you, kurt. Tell us how this is working. Good morning to you. Maria good morning. Were talking about facebook having the marketplace where millions and millions of users can buy and sell goods just like they might on ebay or craigslist. And the marketplace has been quite successful for facebook. The only problem is, facebook is terrible at policing their own environment. Be it on marketplace or anywhere else on their site. So this has crept up. People are now uploading images of a gun case but pricing it out, say, a plastic gun case that would be under 50 bucks, youll see it priced at 850 or youre smart,eat you already knew that. But its also great for finding the perfect used car. 9 950. Youll see what a fair price is that will tell you thats and you can connect with a truecar certified dealer. Code for this case comes with a gun. So theyre not sewing you the now youre even smarter. Gun in the original showing this is truecar. You the gun in the original photo but the relationship with tough food, your dentures may slip and fall. Happens where you connect with a consumer. There are dozens and dozens upon fixodent ultramax hold gives you the strongest hold ever dozens of these in each and every major state, major cities to lock your dentures. Around the u. S. That have this so now you can eat tough food without worry. Going on right now. Heres my question. How come this is not a problem fixodent and forget it. On ebay . Because ebay actually cares enough to police their site. Does facebook care enough . Apparently not. So thats exactly what you end up with. Facebooks priorities, again, not aligned with keeping us safe. Theyre aligned with how do you get more engagement. Maria wow. The rollout of a Clear History tool, tell us about that, not for users in the u. S. Though, right . Ireland, spain, south korea are the countries that this is first rolled out to. I think you may remember, maybe you dont, because it was so long ago that mark zuckerberg, the ceo, announced to the world and this is a year andahalf ago, said, hey, were going to make were giving privacy back to you. Were going to give you the ability to delete history so we cant track which apps and sites maria welcome back, good you go to on facebook if you dont want us to. Wednesday morning, im maria the fact of the matter is, even bartiromo, wednesday though its rolling out and it august 21st, top stories before is expected to roll out later in 6 30 a. M. On the east coast, the u. S. , they dont say when, breaking news from the retail the tool doesnt allow you to sector we are awaiting earnings delete your history. It simply allows you to severe from target, we will keep a the relationship of your name with the data. Close eye on the strength of the the data is still going to be American Consumer and the impact there, its still something that tariffs could be having, thats sits within facebooks control the conversation of the moment, earlier we heard from lowes, and i would say its a bun bunf doublebeat on earnings and revenue rise in samestore sales as well, stock is up 7 and a hot air out of zuckerberg as quarter percent right now, been usual as relates to privacy. Moving up consistently since the maria have you heard answers numbers came out. Broader market also strong, about the gun get around. Futures indicating gain at the start of trading with high it was morning, dow futures up 165 Facebook Says theyre going points, twothirds of 1 , s p is to be doing something about it up 20 and nasdaq up 64 points, but they always say theyre going to be doing something almost 1 . About it. I dont have yet any this has this after concerns of trade and recession fears led market into just hit. Well find out exactly what facebook does to try to police that area. Broad selloff yesterday, the dow facebook has to their credit was down 172 points, s p was added a lot of handson human down 23 and nasdaq was lower by beings to police what they thought they could do with an ago grow rhythm algorithm. 54. Global market this is morning, firmer tone, take a look at this is one more area of an european indices, cac quarante up 77 points, dax index up 127 explosive Silicon Valley company where the public and the points this morning better than publics wellbeing is not the First Priority and we have to 1 , uncertainty in italy after come out and slap them up a the Prime Minister resigned little bit and say hey, wake up, yesterday, a lot of expectation this isnt good for america, this isnt good for business. That salvini gets the job next, maria all right. Well leave it there. Good to see you. Lets get back to ashley, target thanks so much. Numbers are out, we want to see coming up, helping the american worker, my next guest is a ceo looks like a beat, ashley, with a plan to save capitalism. Over to you. It involves putting more money in your pock he et. Ashley yes, indeed, earnings were going to talk about that coming in at 1. 82, 20 cents target beat on earnings this better than estimate on revenue morning, its raising its guidance as it rolls out a new of 18. 4 billion, the estimate food and beverage brand. The impact it could have Going Forward, stay with us. Was 18. 34, secondquarter comp sales grew 3. 4 , they say driven by a 2. 4 growth in traffic, at synchrony, Second Quarter come digital channel sales grew 34 in the last quarter, theyve grown 42 , the digital side continues to be were changing whats possible every single day. Strong. Lets see, same day fulfillment but what does changing whats possible services, lets have a look at mean anyway . Well. Fouryear guidance. If you run a business, 5. 90 to 6. 20, the street was it means a lot. Looking for 5. 93, 5. 90 to 6. 20, for starters, we provide you with Financing Options for your customers. That way, easiest adjusted number means you can help them buy the things they love theyve raised the guidance, instantly very strong sign, indeed, for and pay over time. Target, overall pretty good and that turns them into serious fans. Report, maria. Maria sure s on top of good report from lowes, ashley, thank hang on, theres more. You. Want Customer Insights . The stock is up now better than 5 , lets talk to retail weve got those, too. We use data to show you what your shoppers analyst, shes reacting, mary, have already bought thanks very much for joining us, so we can tell you what they might consider buying next. Your reaction to numbers target and you can offer them the perfect products. As well as lowes. That ceo gets it. Surprised by lowes. From adding unique capabilities i was concerned with, you know, to your companys apps the state of the economy that it to bringing you loyalty programs, might be challenged but thats our technology and Financial Solutions great to see. Are changing whats possible i was positive on target, live in all sorts of ways. The way they are positioned, their product is great, so, how can we change especially in home choice, whats possible for you . Electronics, huge opportunities as i look forward for Fourth Quarter which is what im really concerned about. Maria so this flies totally in that a handle is just a handle. Chair is just a chair. So, how can we change the face of this worry that weve been talking about a recession on the horizon, things or. That you cant be both inside and outside. Are slowing down, looks like the consumer is pretty strong here, do you expect a recession and most people havent driven a lincoln. Why are you worried about the Fourth Quarter . Its the final days of the lincoln summer invitation event. So when i say im word about the Fourth Quarter im not going get to a recession just yet, i right now get 0 apr on all lincoln vehicles want to make it clear that even plus no payments for up to 90 days. If the tariffs are imposed, my only at your lincoln dealer. Understanding itll be it will be the middle of december, all of the merchandise for the year would have been in for the most part for all of these stores, they wont have been impacted by the tariff, itll only be a small piece of it, im not as concerned about that, i actually am really, my biggest thing is amazon, amazon prime has their biggest day ever, you know, i believe it was more than black friday and cybermonday combined so i think thats what the big box retailers need to be concerned about competing with, could be lower prices, increase shipping costs, so overall i think its a big win for the consumer, i expect it to stay, you know, the momentum to continue, its just that i know that stores are going to be forced to compete with amazon because if they did that much in july i cant imagine what they have planned for november, december. Mary, good morning, Mitch Roschelle, you mentioned amazon being a threat, but one of the things that was in targets numbers was digital grew by 34 and 32 last quarter, does that suggest that they figured out their digital strategy, they are able to compete with the amazons to have world . Absolutely. Just amazon, period . Yes, they are competing very well with them, again, i just want to put out there that i believe there are going to be a lot of price wars for the holiday period and target will have to compete in that but i think that they will be one of the winners because even if there is a recession and i say if, i think that customers will still good afternoon at a time maria welcome back. Good wednesday morning, towards lowes and im sorry everybody. Thanks so much for joining us. Im maria bartiromo. It is wednesday, august 21st. Not lowes, target and walmart your top stories right now. And they will fair okay, its just again, they will have to be signs of strength in the economy concerned about lowering prices from retail this morning. Target reporting a double beat when it reported its earnings and revenue, better than and improving their shipping. Estimates. Its raising the full year earnings guidance. The stock is up 14 , the high of maria mary, thanks so much, global adviser president , great the morning. To see you. Lowes also beat expectations, good morning. The stock is up almost 12 right maria what does this tell you about investing and the broader now. Very Strong Quarter for both, stock market . Tell megathat the consumer is very Strong Performance in the stocks. The Broader Market also rallying very healthy and as long as the this morning, take a look at futures indicating a gain at the start of trading of 157 points, consumer is healthy, strong, confident and willing to spend money, the economy is on sound the s p is up 20, nasdaq up 60 points this morning. This after concerns over trade putting. Well, first of all, youre exactly right, the consumer is and recession fears led the market to a broad selloff king right now, we were talking about this up there, i go on yesterday following President Trumps remarks. The march. Ne market was down 17. Flights parents with 5 kids are going here and everywhere, people are spending. Global markets this morning are bouncing. We are looking at a pretty good rally across europe. The reason people are spending because wages are up and i hope fq100 up 77, cac in paris up 80, the dax index up 132 points, republicans can connect those better than 1 . Uncertainty in italy after the Prime Minister resigned yesterday. In asia overnight, markets were dots. Mixed with south koreas kospi maria last gdp had different up for a Third Straight session. Cap x down. The others were pretty much flat thats my big worry and my on the session. President trump is looking to worry if businesses stop bolster the economy, pushing off spending, you dont get wage fears of a recession. Growth and he says hes looking at a i think you are correct on that, i think businesses have payroll tax cut and changes to pulled back on their spending the Capital Gains tax. Because they are worried about plus, a heated argument, energy this trade war, so they are holding onto cash a little bit star says you should keep your home at 78 degrees during the tighter and they are weighing to day and even hotter when youre see what happens, they dont sleeping. Raising the temperature of many want to commit themselves to bigger project, longterm projects until they know we have people online this morning. Some type of resolution on the we are focused on wages this trade war, consumer have money morning. My next guest believes in order in their pocket, they are to save capitalism, american feeling good, feeling good about workers must be paid more. Job growth, if they want to in a New York Times op ed, the change the jobs are there. Chairman and ceo of all state i really think its the trade war. Writes this. More jobs with higher i believe cap x is being held sustainable wages are needed. Back. Maria because of the this need will increase over the uncertainty. Because of uncertainty, that next decade as automation and i think can change quickly and i Artificial Intelligence affects also believe and been saying every job in america. Trade thing will go on for a when i ask my peers whether they long time. If thats the case, dominic consider this an important issue and the concern about the trade war and we think this could go for society, they say yes. On for a listening time, at some when i ask them if they discuss point businesses have to get off it as board meetings, they say the sidelines and invest because no. The blame for the inconsistency if they dont invest today they is usually placed on investor dont have a future. Demand for profits. Joining me right now is the ceo youre exactly right, they are holding back, hasnt been of all state, tom wilson. Dramatic cut back in cap x but tom, its a pleasure to see you. Thank you for joining us. Theres been a drop in that, at some point they will have to nice to be with you. Maria this comes on the heels commit and if you look at that the business round table domestic growth, domestic spending, its been really made serious changes recently positive, so i think thatll and said that we are no longer a come back into the economy, that could be 3, 6 months before we business round dis table made uf see positive turn around. 200 ceos from the World Largest maria steve, whats your take companies, saying companies on tax cut, if things are going should no longer focus on shareholder interest, they should invest more in employees, so well why is the president protecting the environment and weighing options to spur the dealing with suppliers in an economy, measuring measures ethical and fair way. Including possible cut in first, i know youre not a Capital Gains and the continued member of the business round table but youve got this op ed pressing of the Federal Reserve to cut rates today saying a similar thing. Tell me whats behind this. I think its exactly what well, were all saying the youre saying, worry at the white house that maybe this same thing which is businesses trade war is starting to drain the economy a little bit and it need to play a broader role in society because Society Needs needs a little bit of another the help. I have a slightly different view stimulus and i dont have a problem with that, i think that which is that theres four roles for businesses. One, we should serve our the most likely scenario is that customers, two, we need to make donald trump may actually a profit. Three, we need to create jobs through an executive action not and four, we need to improve the communities and were doing go through congress and really well on the first two. Redefining capital gain, index we need to do a better job on creating more high value jobs. Those gains for inflation, that would be a big cut for investors and that could be spending. Maria tom, i mean, some of this is so obvious to me. I mean, for the business round table to come out and say were not going to have profits as a maria mitch, youre expert on priority, number one priority, were going to take care of taxes, 24 . 21 . Employees and the communities. The surcharge on obamacare well, no kidding. I thought they were doing that anyway. The thing that concerns me if i do think its what business he tries to do it by executive does but there is a lot of focus action is then theres a lawsuit and then the stimulus that you on Milton Freeman who said the want doesnt happen and it only thing you should do is make money and dont worry about becomes highly politicized anything else. Because Capital Gains could get and that does permeate some of the work and the measurement we viewed by the electorate as being something that only quote, do. Lets take profits. Measuring profits is a high art unquote, benefits the wealthy, i form. Like the payroll tax cut its important. Weve got a couple million i will say one quick thing on accountants and lawyers and the fcc and all kinds of rules and that . Yeah. 120 Million People like maria regulations that determine how much money is the right money, bartiromo who have 401 k s, ira like whats profit. It is really important to make money. What we dont have is when you stocks. Maria a whole lot of look at creating jobs, we have a millionaires. Couple of simple statistics, whats the unemployment rate. We dont have measurements and [laughter] maria thats right. Benefits from that. Goals around how many jobs does maria dominic, what does this mean to you no terms of your business create every year. Allocating capital . Thats what im arguing is. When we have the leading Economic Indicators this we need to get boards and positive we have never had a companies to stand up and say recession in the next 6 months, part of the job is to make i think the next 6 months we are money. Need to do that every year. Second part of the job is to very, very stable, we will go create jobs and we need to hold ourselves accountable for creating high value jobs for through volatility on tweets of the president and what the fed americans. Maria how do you do that in a chair says, we are fine in the world where technology is taking over jobs . Next 6 months, 9, 12 months out you mentioned ai and whats we start to worry, i believe happening in terms of President Trump will be more technology. This goes back to education. Active in imposing greater there are plenty of people out tariffs on china because they there who are great at one thing but no knowing about ai and will not move off engineering. Well, maria, youre maria keep breaking promises. Absolutely right. It is its been an issue that thank you so much. Government crisis this morning we need to deal with. In italy, cheryl on headlines, i call it a a tsunami. Cheryl. Its going to change everything, cheryl yeah, homeland news for all of this, maria, italian whether youre a doctor, a president sergio is scrambling lawyer, an insurance person. Its going to change your world. To form government after the its changing our world collapse of current one, went dramatically today as we speak with our employees. Down yesterday, the government but business has been creating spiraled about 2 weeks ago, jobs for a long time. Thats what we do. And its not that hard. Interior minister who is leader weve got to figure out how do of the far right party withdrew we create new products and services. We need to expand our markets. Support hope to go trigger new Michael Porter did some work elections, now the countrys Prime Minister resigned that showed that those companies that sold their products in more yesterday, that put plan in jeopardy, now politicians from markets paid their employs ease rival parties openly discussing more and i think its because they found better customers, forming a new coalition to give italy a more centrist people were prepared to pay more money and you can share some of government, i want to add that with your employees. Italian stock market opened so we need to do this because lower and then higher. The Financial Health of america is not a good place. 40 of americans dont have 400 interesting things happening in italy, maria. For an emergency. Lets talk about mercedes benz, the average net worth of the lowest 30 of america is raising privacy concerns, use 19,000. Thats four months of pay. So we cannot the reason people are upset about tracking technology of businesses and capitalism and is that because its not working repossessed cars, drivers agreed for them. So our job is we should help it work for them. We should make it work. To be tracked when they finance maria are you saying the fact a car with mercedes benz, one that Many Americans dont have that nest egg that you just politician is calling for an referred to, the 400, are you investigation into this practice and finally this, time to saying the broad economic backdrop is not as strong as reenter the matrix, fourth some people say . Installment in classic scifi i do not think its as strong. I think the weak financial series, keanu reeves, neil and health of americans is a cancer kind of out there waiting to met ametastisize. Trinity, producers are looking to start on the film, no details on the story line, excellent being broke and working is not an american value. People know they work, they should have a decent amount of adventure. Money. I think we can just pay people hes also an action super star. More. Maria im very troubled by this some jobs just arent worth more mercedes story, cheryl. Money per hour. What we have to do is figure out cheryl its weird. Maria weird, indicating that we how do we create jobs that dont know who is tracking us create enough value so we can and what they are doing and pay people the right amount of money. Maria what are your thoughts on what the president is talking why do they need that information for. About . How about the insurance yesterday he said his companies that can have the administration is discussing a ability to track you to figure out if youre a dangers driver temporary payroll tax cut as a and they can raise your way to boost the economy. Premiums. Well, i think a payroll taxis thats true, thats happening because everything in your car, good because its about freedom. Now when theres an accident they can go to the car and say were you smoking, were you on im not so sure about whether it will help the economy or not. Your phone. Your phone is in your car, if probably will. You have the app they can track but the idea that most americans you. Work about two days of work to maria exactly. Wow, its a new world. Pay their taxes, payroll tax, coming up strengthening the Social Security tax, income tax, economy, President Trump says hes looking at a payroll tax go down the list, you spend two cut and changes to Capital Gains out of five days working to pay the government. Tax, steve moore is here to talk that doesnt seem like good about it, what it could mean for economic freedom. I think americans should pay your wallet coming up. Less tax. On the other hand, we cant just emoji hats for sale, could be keep cutting taxes and keep spending money. Yours for pretty penny. Weve got to figure that out too. Maria what are you doing at all state . I was looking at the last buckle up for some insurance themed fun quarters catastrophe losses and i wonder where the growth comes from today at allstate in the coming year. Well, our growth is really were more of a data and at Progressive Park Analytics Company than just an children yeah insurance company. Announcer ride the totally realistic traffic jam. We insure 129 million things from cars to cell phones and our beep, beep, beep, beep children traffic jam cell phone business and device announcer and the worlds first never bump bumper cars. Business is growing like crazy. Children never bump we insure peoples identities so announcer its a real savings hootenanny that if you get hacked we help with options that fit your budget. You remediate it. Thats fun for the whole family. So theres plenty of Growth Opportunities for us. Announcer only at progressive par. But to the employee piece, were really trying to work on helping our employees be more maybe an insurance park was a bad idea. Employable. We say like we would like to yeah. Yep. Train you to do our jobs but we would also like train you to be able to learn how to adapt to the future so that even if you dont work for us, then youll be able to be employable someplace else. We believe that will help us get the best people. If you come to work for allstate, we make sure you have a future career, whether with us or somebody else. Maria thats terrific. These are real growth stories. Is that a relatively new business in terms of insuring over, like, for example if you get hacked and insuring that youve got the right employment ideas, are these relatively new businesses, tom . The Identity Protection business is new. We bought it last october. Were going to expand it, actually, from not just fixing it if you get hacked but figure out how to manage your digital footprint. Most people have no idea how many people are tracking them. And weve done some work on it and the average person has over 150 people tracking them. And they dont know it. And so we want to help them figure out who is tracking them and then help them figure out how to get rid of those friends that they dont want. So how do you undelete from those accounts that youre not interested in having them track you. Maria this is such an important point you make. Were talking about how the breaches in privacy have just gone incredible numbers throughout social media. We were just talkin talking abot Insurance Companies and tracking you in the call and being able to say you were in an accident and we know you were on the phone because of microphones in the car. Whats the status of tracking of Insurance Companies . Well, the connected car space that youre referring to is really going to change insurance dramatically. The first thing it does is help us give you the most specific and most accurate price for you. Because when were trying to determine what your probability is of having an accident we have to use all kinds of information. If we know exactly how you drive, we can give you the best price. A lot of people do that. We have over 2 Million People today who use that with us to help them get the best price and thats growing rapidly. The other thing we can use it for is to help give you save driverrindriver driving tips. We connect driving data on individuals every month. Its about 15 Million People. We can say you know, if you didnt tailgate so much you would be a little safer driver. That a handle is just a handle. Chair is just a chair. If youre a safer driver you can pay less in insurance. Or. That you cant be both inside and outside. It really were using it to help benefit consumers. When you give them a benefit, theyre okay with it. Most people havent driven a lincoln. Its when you use it in a way that they didnt expect or they its the final days of the lincoln summer invitation event. Dont want that you get into trouble. Maria you have been able to right now get 0 apr on all lincoln vehicles find out all of the businesses that are actually tracking plus no payments for up to 90 days. People . Yes. Only at your lincoln dealer. Yeah, we have a product were just launching this month that you sign up and well say, maria, you have 223 companies that have embedded stuff in your software and theyre tracking you and how would you like to who do you want to get off the list and then who are you okay with having a relationship with. Maria thats incredible. Thats a great product, tom. Maria welcome back headlines well, im make sure i call across america, legislature you and well requires North Carolina sheriffs to comply with ice requests sending bill to governor, this [ laughter ] maria i dont want to be bill would require law tracked. Enforcement officials to honor free trial, how about that. Maria thanks so much. Detention requests from ice tom wilson, joining us there. Officials, sheriffs from some of North Carolinas biggest target beats on earnings, raises counties were elected on the guidance as well as it rolls out promise of cutting ties with ice a new food and beverage brand. And no longer listen to one seller who uses the retail detention requests, the des giant ahead on the impact. Moines register writing this, heated arguments, new severe storms caused thousands to lose power across des moines recommendations on the temperature you should keep your home at has the online world metro as 3 tornadoes touched buzzing, find out what they are, down in iowa, at least one of next up. Don dont put it all on the e the tornadoes damaged buildings and knocked out power to over 20,000 people, despite heavy rain and storms the national for just one road. Youve got to have an ace in Weather Service says overall damage was minimum. The hole. If youre headed down the la times says hot pink emoji wrong way house with new owner in miami beach, beach house 7. 9 million two weeks after nearby homeowners objected to paint job at city council meeting, some neighbors even think emojis are dont miss your golden opportunity to experience the luxury desire of a full line utility vehicles. At the lexus golden opportunity sales event. Meant to mock them. Lease the 2019 rx 350 for 389 a month for 36 months and well [laughter] maria i can understand make your first month payment. Neighbors saying, hot pink emoji experience amazing. House. [laughter] maria funny. The painting made sense if there was an airbnb because sometimes you cant find the airbnb. You put pink house with emoji on it. There it is. Sleep number 360 smart bed. [laughter] how funny. Quick break and then kids and you can adjust your comfort on both sides cell phones, the california high your sleep number setting. Can it help us fall asleep faster . School says they are too distracting and response is yes, by gently warming your feet. Causing students anxiety, wait but can it help keep us asleep . Till you hear this one, honoring absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. Americans heros, all that right so you can really promise better sleep. After this. Not promise. Prove. And now, all beds are on sale save 50 on the sleep number 360 limited Edition Smart bed. Plus 0 interest for 24 months and free home delivery. Ends saturday youre smart,eat you already knew that. But its also great for finding the perfect used car. Youll see what a fair price is from the couldnt be prouders and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. To the wait did we just winners. 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 preorder a new samsung note. Click, call or visit a store today. Announcer only fidelity offers four zero Expense Ratio index funds directly to investors. And we have zero account fees for brokerage accounts. At fidelity those zeros really add up. Maybe ill win saved by zero maria welcome back. New guidelines from the department of energys energy star outline what temperature you should keep your home in order to save money. It is going viral. Jackie deangeles is here with more. Well tell you the temperatures and how much you will save and you can decide if you agree with this. Energy star is saying you can save 180 a year if you keep your home between 78 and 85 degrees during the day. Now, obviously in the summer months that can be challenging. [ laughter ] it depends where you live and how hot it gets. Theyre saying you want to keep it as high as possible even in the summer so the differential between outside is not that great and thats going to make you more efficient. You can get these thermostats that you can set for different times during the day and it will sort of change the temperature for you. What theyre saying is 78 degrees when you wake up, 85 degrees during the day. [ laughter ] during the summer . And 82 degrees while youre sleeping and they say around 78 degrees if youre home during the day. So that 85 degrees is presumably while youre out and at work. This is why we dont need an Energy Department. [ laughter ] why are they telling us what maria welcome back helping our heros, our guest to tell us about his time in Armed Services temperature to put our home at. And helps veterans transition these are regulations where they into the world of Small Business actually regulate it and after he started several regulating what kind of businesses of his own, former dishwasher you can buy and what u. S. Army ranger and author thank you for my service, mat kind of air conditioner you can beth is here, mat, great to have buy. I think this is frightening stuff, that the government is you on the show this morning. Telling you what temperature. Thank you for having me. Remember, jimmy carter did this maria thank you so much for for the service. In the late 70s, saying you i enjoyed it. Have to have your thermostat at maria did you really enjoy it, this or that. Theyre saying its just wow . Absolutely. Again, it was privilege to serve suggestions, theyre voluntary. My country and i love it and i i wouldnt be able to sleep think this is the greatest country ever and to be able to under those conditions. Participate just a little bit in how are people productive. Protecting it is humbling even when we had the heat wave experience for me. In new york city over the thats so beautiful, we weekend, refresh it was like 10s agree, the greatest country in the world. What kind of benefits did you high. De blasio was saying office get from being there with armed buildings should bring services and what did you take temperatures down to 78 degrees, from that in terms of when you because nobody was going to be came back and we wanted to get there and no reason to waste the back into business . Energy. Absolutely, being in special but 85 degrees Operations Unit you have to what about during the winter, problem solve and so much is that the same temperature translate to Business World where theres so many challenges range . Every day you face that you have no it would probably be to figure out and push through different during the winter. Just to complete the objective but a lot of people are more and thats why i brought copy, productive when its cold. You sleep better when its cold. We hire so many veterans, they Even Energy Star is im come from such diverse skill set sorry, the National Sleep that benefits the country in foundation is saying 65 degrees advantageous way. Is what the temperature should be when youre sleeping so you ive heard that and i met can get into that dee that deepm somebody exmilitary, retired, she said its been difficult to sleep. My husband likes the ac at 65 get private sector understand the value of her military and the overhead fan going. Experience, what do you think is the biggest misunderstanding, privatesector companies have [ laughter ] everyones different. About hiring veterans . For me, 180 a year, i know to absolutely, awkward in some people thats a lot of money, its a lot of money to civilian sector where they look me, but i cut it somewhere else at military resume and they are from my budget i guess. Maria exactly. Almost scared about this figure it out. Individual, thats something maria and you say its nanny that im trying to combat, i state. Its an interesting comment think you have to look in about the Energy Department. Complete opposite way, the this president has been rolling person comes from such amazing back regulations, now we get background, skill sets that is this. Youre saying these are voluntary. And they are for now. For now. There are all sorts of going to translate. Regulations that have been is that because of post Traumatic Stress syndrome, passed at the same time the employers are worried that Energy Star Program started about the appliances you buy and veterans might be mentally impaired and things and that how Energy Efficient they are may, you know, reduce their and theyre taking choices away. Ability to do the job . Consumers should be able to make the decisions for themselves. It almost seems like theres they shouldnt have the some discrimination against our government tell them youre going to save money if you do this. Well, if theyre going to save veterans. I truly believe that and i money, they dont need the believe that thats a false government to tell them to do construct that weve created in it. Am i wrong about that . America and i really want to i think the transparency on change that because we have so many amazing veterans that work for us and they are absolutely which saves and which doesnt is a good thing for the consumer amazing. But telling people what they can even the ones who do suffer buy and what they cant buy, from post traumatic syndrome, its not the free market. That doesnt impair them it goes back to the soda idea necessarily from doing their in new york city. Should we put a ban on soda or job. Absolutely not, absolutely not. What advice would you give to the employers out there in terms teach people to be more educated of developing a strategy to hire about the decisions they make. Maria the next thing is stop recruit and retain, most importantly retain veterans . Eating cheeseburgers. Wait. Just give them a chance to be maria thanks. Honest with you, dont be targets new play, the retail squared that people served, you giant rolls out new brands, one need to look at service as Something Special and someone ceo whose products are on its who wanted to serve country proudly, they will want to serve shelves reacts. Back in a point. Got to get up. Civilian sector proudly and be early in the morning. Successful in entrepreneurship or as civilian employee. Find me another lover. Maria thank you for my service, i got do get up. You use humor to tell a story early in the morning. To find me another lover. About time as army ranger, do you think its easier to and. Thats your basic threepoint turn. Communicate with the audience with that kind of humor, tell us some of the stories . Absolutely, thats why i wrote in the sense and a lot of heavy serious stories in there from a guy with my background i laughed there all the horrors of war and humor has really helped me create Community Around serving with everybody, so, yeah, i absolutely love to make people laugh and i hope they get a kick out of the book. Where are the most most accepting companies out there, Tell White House is doing the [ scoffs ] if you say so. Best job in terms of hiring veterans and and making sure im sorry . What teach here isnt telling you that they have opportunities when they come back . Is that snapshot rewards safe drivers theres a lot of with discounts on car insurance. Organizations or corporate entities that do it. What . A lot of people say they want to support veterans an they dont, or maybe he didnt know. Thats why ive taken entrepreneurship head on, i know [ chuckles ] im done with this class. That me and my Business Partners youre not even enrolled in this class. Can make a difference, toplevel i know. Im supposed to be in ceramics. Executives all the way down, do you know room 303. Oh. Thank you. Yeah. Ecosystem that supports law enforcement, ems, the people good luck, everybody. That support community. Maria terrific, if you think about some of the things best suited for veteran, oh. Thank you. Yeah. 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 preorder a new samsung note. Click, call or visit a store today. Maria welcome back. Target announcing the lawn of good and gather, the retail giants you new food and beverage brand. It will be targets largest brand launch to date with more than 2,000 items hitting store shelves. Joining us right now is simple mills founder and ceo, katlyn smith. Katlyn, great to see you again. Great to see you too. Maria thank you for joining us. You brought goodies, some simple mills items. I want to ask about that. Your products are sold at target. What is your take on the new line first. They are. What youre seeing is conventional retailers investing in natural food sales. This is an area where theyre seeing their retail their growth triple compared to their traditional product lines and so certainly theyre going to invest in private label, invest in brands like ours to really bring that natural consumer into their stores. Maria tell us about the Natural Products and whats in here and why youve been successful. Yeah. So we make products out of just very simple, whole Food Ingredients. You take our almond flour crackers made out of almond flour, sun flower seeds, flax seeds, things that work hard for you and taste really great. Who. Who is your typical cus . We have a range of customers. Really people who are looking to get more from the food that they eat. So they want their food to work harder for them and theyve connected that the food they eat impacts all aspects of their mental and physical wellbeing. And so that could be a mother. It could also be a woman in her 20s, just trying to make it to that afternoon workout class and [ laughter ] when you say this segment of more healthy choices in food is growing, whats it growing at the expense of . The less healthy manufacturers and if thats the case, are they combating this with their own lines of more healthy foods. Absolutely. It is really happening at the expense of the traditional brands that youve seen on the shelf. You look at conventional, for example, in the conventional channel, 54 of the natural food sales are occurring in that channel. Its not in the natural food retailers, its actually in the conventional retailers. Weve seen our products in conventional actually double and triple their sales over the past year. So the consumer is shifting where theyre purchasing natural foods. When i go to the supermarket, these kinds of foods are often relegated to the healthy aisle. Have they made it mainstream, and gotten in the cookie aisle with the less healthy cookies . Absolutely. Retailers are integrating the items, so theyre sitting sidebyside. The consumer more and more isnt going to the separate aisle. Maria so nothing artificial, im reading this, these almond flour crackers, 8 grams of fat, sugar less than 1 and you can do this and it also tastes good. Yes. Absolutely. Maria do you do that . [ laughter ] its not an easy thing to do. It takes our team a lot of trial and error to get recipes that use really simple Food Ingredients that taste great and the important thing is keeping the bar high. Theres many times when you say thats not possible, thats not possible, but the more you try it, the more things you figure out. Maria katlyn, great stuff. Thank you so much. Thank you for having me. Maria thank you so much. Markets are pointing up this morning as President Trump signals another tax cut. More from the white house next hour, right here, mornings with maria. Stay with us. vo the hamsters, run hopelessly in their cage. Content on their endless quest, to nowhere. 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. Good wednesday morning. Thanks so much for joining us. Im maria bartiromo, wednesday, august 21 top stories 8 00 a. M. On the button on the east coast, President Trump, is is looking to bolster the economy the president pushing off fiercely of recession but also saying he is looking considering a payroll tax cut. Strength in retail target double beat and raising fullyear earnings genes, has stock on fire, lows same thing, beating expectations, take a look at stocks highs of the morning right now, target shares up almost 15 , lows shares up better than 12 both stocks surging this morning, Broader Markets higher are dow gain 162 points s p open up 20 points in nasdaq higher by 57. This after concerns over trade recession fierce led the markets lower yesterday, following the president positioning remarks, the youlz down 173 points the s p down 23. The nasdaq lower by 54, the markets this morning of a firmer tone european stocks to higher across the board, ft 100 up 78 cac quarante paris up 83, dax index in germany up 141. Uncertainty this morning in italy as the Prime Minister resigned yesterday. In asia overnight markets mixed, south korea kospi index up Third Session in a row others flat breaking news reports u. S. Drone has been shot down. Two military officials telling reuters the military drone was taken out over yemen yesterday weve got all updates coming up this morning. Instagram hoax going viral the fake post on rules that is shared by celebrities po politicians add flavor to school year, taco bell new collection of notebooks backpacks a lot more wednesday morning joining me to break it down former wojts editorial boarded member and coauthor o trumpnomics stephen moore, host of the podcast secrets of wealthy women veronica is here pwc partner Mitch Roschelle great to see everybody. Two retailers way better than expected people talking recession. Maria you are right i am questioning it because, we see the numbers, 5 year blow on unemployment, growth, but there is speculate about 2020, 2021 because of level Interest Rates a story i want your take on steve is this idea that the Business Roundtable, is now saying, forget profits that cannot be priority anymore the priority has to be helping employees the communities that you operate in, my first instinct on that was basically that is what i thought you were doing anyway why having to make it a rule, to be good to employees. That letter you are referring to Business Roundtable signed by i think 200 major ceos so it is a big deal. The walking a very tight line here, clearly, companies should be concerned about this communities workers other things the environment, but i dont like this idea par 4a businesses ceos shifting away from you are in primary focus which is making money, and acting on behalf of the owners or shareholders it made me uneasy we are going to be because of environment going to do all other things, and, maybe taking the shine off what is companies are supposed to do make earnings and benefit shareholders the shareholders p when they make money they can that money is passed on to shrldz they can give money to charities, do do initiatives that are good for environment, but i am not so sure i want our companies focused on those things, am i wrong. I think it is all pr frankly my take, they are looking at the democratic field, and Elizabeth Warren, in particular, rising in the polls, and having a target on the back of private equity on bank sector and basically are saying to dealers, war enz of the world we are not bad people. You are right, but this isnt going to get these groups from backing off. I agree with you i agree with you. More for jugular. I think taking back narrative for so long has been antiwall street rhetoric so many anticapitalism talk out there especially so many consumers now are young, and they need to appeal to them could be way for them. Exactly right. Pr for Millennials Want to make sure they go to company to work that has purpose, and that is doing good. But what is interesting Bernie Sanders Elizabeth Warren some other candidates beto orourke used the word o profit on campaign trail as bad thing i think a response reaction to marias point if one candidate should win theyve gottain head of it. A business show the question for investors watching is do you want an to invest in a Company Maria that is takinging the eye off the ball . Of earnings . And, you know, you are kaivent a company if they dont have earnings i am troubled, by the way, you are exactly rightly i listened to democratic debates they act as if profits are evil as if companies are evil corporations, when did this idea you cant have jobs without employers if you are not having profits you have less employees. Exactly. By the way, there is a report today, on the china story alibaba may delay ipo, in hong kong, big stuff here as covering. Related to that is what i am asking we will see going to look into this, because obviously, o protesters in hong kong are telling us how they feel. About china so is we will talk about that coming up, President Trump says he is considering a payroll tax tax cut to boost economy Federal Reserve should consider another significant rate cut one full point rate cut blake burman at the white house good morning. Reporter good morning to you white house officials adamant they were insisting any talk about a potential payroll tax cut was lower level staff at the white house they say, it was really not a serious policy proposal. But then yesterday, President Trump seemingly turned that upside down saying that he is pondering a payroll tax cut. Payroll taxes i have been thinking about payroll taxes a long time whether or not we do it now or not it is not being done because of recession. Reporter . Reporter yet in oval office with leader of romania President Trump endorsed indexing capital gain said fed should cut Interest Rates 100 basis points quotes over a period of time despite talks over cuts stimulus president brushed aside any discussion about staring down a possible recession. I think the word recession is a word inappropriately just a word that the that the certain people i am going to be kind certain people in media are trying to build up because they would love a receasing we are dpar from a recession. Maria going back to potential tax cuts for a second a couple things, to note here first off, the white house, hasnt produced any detail plan to exactly what it might want and even if it were to get to that step, kooem as well, tax writing policy begins in the house, and you never control the house exactly, nancy pelosi, thank you so much, do you think that a recession is at hand. O i dont, i actually think there is something to what the president is saying, there are a lot of are liberal say i want a recession we want recession because i dont want trump reelected it is true i think trump has a point confidence, and optimism help growth, right people the people businesses feel good consumers feel good all talk about recession, can have a negative effect on that achl i wrong. That is thing bill morris says bring on recession we want trump out the people to lose jobs, so they can have a the recession is not going to hit comedian making millions on hbo, the recession is hitting everybody else. One quick question if trump does move forward with this Capital Gains tax reduction idea index Capital Gains for inflation a big positive impact on market. Maria you want to see it. We havent capital gain tax in a long time. Is it hugo gurdon a pleasure to see you thanks for being they are. Thanks for having me. Reaction to what president is saying in terms of of tax cuts first off . Well, first of all, yeah, indexing Capital Gains would be terrific idea boost to economy boost to market it would also be fair, because at the moment people are taxed because of inflation, so irrow inspective whether there is or is not a recession looming that would be great idea, the payroll tax tax cut more complicated, idea. Maria okay. What is your take though about the president talking about all tax cuts wanting a cut in the Interest Rates again, one point but Federal Reserve, economy seems doing well two retail reports out this morning socks soaring showing consumer is quite strong actually. Yeah, those reports this morning are really a boost in the obviously, both share prices raised 15 on target, and whole of the market looking a a little bit firmer as you were saying, sfwlut have been few indications one of them is bond yields, thank you know, Interest Rates on debt and invert yield curve sending signals of a possible recession, or at least a slowdown, so there has to be concern obviously, the economy is the biggest factor weighing in President Trumps favor job creation is great unemployment very low economy doing very well. White house team from the president on down, was trying to make sure that people dont lose that confidence, and dont start thinking about recession, because unfortunately those things have a way of becoming selffulfilling prophesies more people think going to happen more pull in horns a little bit more careful about spending that takes money out of the economy and reduces the velocity of money in the market. Given toxic nature in washington you cover every day assume for a minimum that trump did propose this payroll tax cut for middle class do you see any chance of democrats working cooperatively with trump to pass Something Like that. I am afraid i cant see nancy pelosi doing that. It is true, what the president said has been true a long time, that at a principal aim of the democrats is to do damage to him. With the economy being the principal prop and strength of this administration, nancy pelosi is not going to do anything gives an extra boost to economy gives President Trump a higher chance of being elected so i dont see her playing ball at all. Hugo good morning Mitch Roschelle one thing interesting is the administration, constantly saying we are not in recession no recession no recession you have two dozen democrats on campaign trail would love to point fingers at the administration, so is Going Forward, with forget about the fed rate cut but Going Forward with any kind of fiscal stimulus from tax policy perspective does that send a mixed message and give democrats, you know ammo to attack the Administration Policies . Yes, yes i think that it does. You know, obviously, if those part times were put in place, it would be terrific, the but but talking about it but not getting it done is doesnt help, the the democrats on campaign trail are really gloom and doom merchants give impression the country is falling to pieces, that, you know, that the everything is going wrong because of this president , it is remarkable when you listen to these to the debates, how they talk about america being in trouble, and things being in emergency being in crises one thing dont, of course, admit is a crises is actual crises down at border. Let me switch gears ask about Vice President joe biden made another gaffe in iowa incorrectly identifying when Robert Kennedy Martin Luther king, jr. , assassinations took place watch this got to get reaction. Just like in my generation i go the out of school, that one Bobby Kennedy dr. King had been ais as naitsdz until the he 70s late 70s i got engaged so this comes as new cnn poll shows support for biden among democrats 29 Bernie Sanders list list following thoughts on lineup and joe biden. Joe biden is the walter admity of the democratic field here he is constantly getting things wrong some things are just mistakes as kind of thing that you just showed where he will get a date wrong there wasroot within where he said that he talked to to be bereaved Parkland School was sandy hook, he puts foot in it pretending has done things he hasnt imagining himself he claiming to have been in heroic positions a civil rights activist in 70s, 60s. Surprised how list lielizabe warren is doing. Elizabeth warren has been something of a revelation i thought 2016 missed opportunity going to turn into yesterdays candidate never make it she turned out to be an extremely capable comparis campaigner a lot of energy. Go ahead. A lot of energy, she has a lot of energy also, helped by the fact that there are two people who are older than her [laughter]. Joe biden and and sanders they in fact make her look younger indeed she is younger one for her. Good point hugo great to see you thanks so much. Thanks hugo gurdon joining us Washington Examiner big brands targets lowes surging on stronger than expected earnings sign every strengthen in the consumer. Back in a minute with that. 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. but how do i know iflly im im getting a good deal . I tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if im getting a great price. This is how car buying was always meant to be. This is truecar. Maria performances in retail from lowes target, the stocks are soaring, gerri willis on the floor checking out markets this morning looking at rally today gerri. No kithd, and this retail rally ironically by two brickandmortar companies lowes target doing very well indeed Broader Markets hi lowes up 12 and change beating on top and bottom line line investors love this report. Samestore sales up 2. 3 slightly better than home depot a turn around for the company they are giving no change to guidance remember repurchased 1. 9 billion stock that falling out of favor with some companies target, though, also beating on top sand bottom line 1. 82 versus 1. 62 shares up nearly 18 raised full year outlook to range 5. 09 to 6. 20 a share Digital Sales up 34 looks like they have got real traction there, Comp Store Sales up 3. 4 obviously, Discount Stores are gaining share at expense of department stores. Very important indeed target also saying that they are encouraged many items on the tariff list have now been delayed to the end of the year, but if that issue remerges when it reemerges will impact stocks as for sometime another story nike shares a little higher as well after they inksed a deal with in Orange County to allow company to use nyc logos Fire Department for cut of sales toifrm department gets 5 cut of new york branded merchandise back to you. Thank you gerri willis on the floor of the new york stock exchange, coming up social media scam one viral Instagram Post shared by celebrities politicians sparked fears over user privacy a hoax we are going to explain to you coming up spyi spicing up backtoSchool Supplies where to find item before heading back to school stay with us. 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. 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, alibaba reportedly delaying listing on Hong Kong Stock Exchange Cheryl Casone. Cheryl postponed plans is to list stock in monday morning hong due to ongoing protesters prodemocracy demonstrators in reuters this morning, the listing could raise if it happens, as much 5 billion my delay to october, slight gain on stock. Majority leader Mitch Mcconnell wrote about protests in hong kong in days wroj pretty good piece every trading nation in democracy that values individual liberty and privacy has a stake here, their choice is not between the u. S. And china. But between a free, Fair International system and at the internal oppression surveillance modern system that china seeks to impose. Good article you might want to read that there is this talking about, insgrall has confirmed instagram confirmed a hoax rumor flying yesterday, that instagram put millage a viral post yet a hoax full of misspelgs reposted celebrities politicians would repost to prevent instagram from yuing rule of against them in account instagram says no way no truth to any of this there is facebook he owner instagram up one and half bucks premarket when you think of taco bell, do you think of School Supplies . Now you can, celebrate semester taco bell releasing a backtoschool collection has taco bell themed backpacks pencils shirts hoodies a hot as you see pact u. S. B drive if you want kids teased in school taco Bell Clothing on send it back come on. Buy at taco bell. Maybe online. Online. By the way, you were the new indicator was it monday that we were together cheryl was doing headlined after headlined said i love target . Right you said that champagne at target i love target had we bought stock after cheryl said it would be up 17 . I try to serve happily [laughter] thank you, the economy under President Trump watching riching of recession as President Trump weighs fresh round of tax cuts the avert economic slowdown live to illinois a closer look into business of farming, stay with us. At synchrony, were changing whats possible every single day. But what does changing whats possible mean anyway . 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. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . So, how can we change with tough food, your dentures may slip and fall. Fixodent ultramax hold gives you the strongest hold ever to lock your dentures. So now you can eat tough food without worry. Fixodent and forget it. Morning. Thanks for joining us. Im maria bartiromo. Wednesday, august 21, top of stories just before 8 30 a. M. On the east coast. Signs of strength in the economy from retailer target out with double beat with earnings, raising full year guidance trade uncertainty adds layer of uncertainty lowes beat expectations both very well lowes up 12 1 2 target high up 17 , other retailers higher nordstrom reports later today, dollar tree tjx also this morning, higher tjx reported yesterday Broader Markets strong this morning a rally start of trading expected Dow Jones Industrial average up 189 points this is high of the morning up 191 s p futures up 22. Nasdaq futures up 61. Global markets also firmer european stocks higher across the board look at ft 100 up 80 points better than 1 cac quarante in paris up 85 one 1 2 dax in germany up 150 points one and a quarter percent uncertainty in italy prime resigned yesterday in asia overnight markets mixed at close south korea kospi was up for a Third Session in a row. Pretty much flat performance across the board. He faerm farmers to hemp to help small town america we take live business of accessories ceo sofia m. I. A. Growing direct to Consumer Brand hurdles female entrepreneurs must overcome markets higher this morning as you interest tripledigit move amid fears of recession the conversation around a slowdown, President Trump said yesterday, u. S. Is not even close to a recession. I think the record recession is a word inappropriate a word that the the certain people i am going to be kind certain people in media are trying to build up, because they would love to see a recession, we are very far from a recession. In fact, if the fed would do its job i think would he have a tremendous spurt of growth. Joining us right now Merrill Lynch chief adviser chris hyzy you watched backdrop investing what do you think, do you think president is right about this. Well i think the most important thing is look at credit Card Transactions a lot of people looking at retail sales real in general todays economy actually most recently, in the last decade or socred credit cards important to look at we look at in United States particularly suggest consumers not only healthy they are still feeling confident enough, the job market will tell that you confidence derives investment whether a consumer a business, a country, corporations across the board so we feel like the economy is slowing it is slowing down to trend it was slightly above trend, but in terms of the talk of recession stuff like that, it is premature at this point. You still see a strong situation we are looking at consumer today, and weve got great numbers on target lowes, what about capex the business sector steve moon mentioned yarl about capex down gdp report down 6 10 of a percent. I think you separate the story of capex is a i wouldnt say complex but very interesting because if you separate the United States from the rest of the world, rest of the world is very manufacturing heavy we know that, so the capital intensity heavy capital intensity stronger overseas watch capex overseas see what is happening dropping trait uncertained adding to that capex in United States 0 economy Household Spending more Service Oriented when i spend in Service Industries not capital intensive so capex growth that everyone is want to go see, is not what it used to be 10 years ago capex spent now particularly in technology companies, communications light driven if you spend money, billions of content world. Like on technological. Like technology that is not counted in capex. Maria that is one of the most important spends. Huge secondaryly if you take a dollar today, and spend it on the cloud, about whatever the cloud is going to be four years five years from now that same dollar goes a lot farther so the actual leverage that have dollar to spend is much greater than it used to be. And that has a concept that people have not figured out yet from my perspective you said a dollar 10 years ago in cloud before the cloudy was a cloudy didnt reach as far not spending as much money to bet the benefit back. That is why capex is reassuring to me to hear this i am worried about business. Maria it is. It is. I believe the first chain of the economy actually begins with business of spending then they can hire more workers then pay more wages then gets i do worry a little bit i am bullish on economy too i do worry a little bit that consumer cant carry the economy on its own. Maria yeah. You need businesses, so there is a variation oi travel all over country, by the way, from Portland Oregon to Portland Maine all you see buildings construction seems Strong Manufacturing how do you feel about manufacturing those numbers have been weak trump made a big deal out of manufacturing. In fact before you answer the president tweeted about this he just wrote this, the fake news lame stream media doing Everything Possible to create u. S. Recession even though numbers faction are working totally opposite direction they would be willing to hurt many people but that doesnt matter to them our economy is good. So good rather sorry. He must be listening to our show by the way. Must be. It is a dual economy if you look at multinatural csuite they are more worried about trade war obviously, exposed to it a lot more, if you go down and you think more domestically even a Company Multinational most revenue from United States are suggesting businesses not only doing fine but moving forward a dual track good news manufacturing kwaegs in u. S. Economy less than 15than 15 look at that put two together a slowing world driven by engine called u. S. Consumer in u. S. So from my perspective, it is about confidence, confidence is hanging in yes things are slowing, but it is very premature to suggest that the only reason why the curve inverted is because thish worried about recession. I know the reason about curve is inverted fed too title i want your wreaks to this my attitude a he bigger fear of deflation than inflation i think trump is right. One point rate. No would i go 50 basis points jo over time good with one point over too many i. There is monday too title i think people why would people buy a 10year Treasury Bill 1. 6 . Because people are worried about commodities 15 last year. 8 punz above we track countries 6 of 8 are technically emerging, bonds out there one trillion overly Corporate Bonds out there that are negative yielding when you think about all this. Maria about unbelievable. And just separate the noise a little bit, you have to figure out what are the words going to be said at jackson hole . Words are powerful. The statement, is what caused a lot of con sternation in fixed income that is what kicked off the kink at the end of the curve recently, so words are going to be very powerful remember with a mario draghi said. Not too long ago. Whatever it takes. Didnt make an action at all it worked for that point. When powell said willing to listen to markets in january it will worked you need words confidence ultimately see what action happens. Maria okay, all right. So you are expecting more rate cuts. Yes do you want to buy stocks in that scenario. Dont fight the fed, and font wrestle with dont wrestle with if he had overtime earnings will follow the multiple, we think the minimum goes back up again, low discount rates, the fed right you sizes curve on the short end instilz a little bit more confidence consumer feel good about jobs commerce begins to happen again. 25 or 50 base points in september . What do you think . I think they are going to signal more is to come go 25, that is our forecast, we are saying three more, through the end of the year, into january. And the fed ultimately should signal they understand what the fixed income markets message is. Maria all right. You still want to be invested in stocks. Yeah. Bottom line. We want to buy on dips wrote pieces during volatile periods august trading is very thin, step away we said watch the seven cs from consumer to claims to capex to contagion to whole number of other things credit, and the curve. But the 8th c is caution during trading months we have had a level set apply on dips through into the fed meeting. Maria great analysis as always chris hyzy joining us the growing business of hemp grady is live in illinois speaking to farmer cashing in good morning to you. Good morning little different than new york out here, interesting to see the juxtaposition between traditional midwest crop of corn, and then rows of Industrial Hemp will grow six feet taller than me sell cbd, low in thc in cannabis gets you hi trent is the farmer you use cbd yourself. Absolutely arthritis helps. Trying to tell people legitimize business this is is expected grow quite a bit you are trying to capitalize on that. Yeah, absolutely, not so much capitalize we want to grow plants that help people, and we need, some sort of alternative to other crops that we grow here not to mention fiber grain possibility huge. I was going to say you want grow Rural America a photographic several months in large cities is there has been job growth last five years according to citizens to in rural areas that hasnt been the case you want to bring jobs. Absolutely between us, and medical Recreational Cannabis provider in tun looking to add between 300, 350 jobs, over the next year, that is to a town right now a o ghost town all smail businesses are gone. We point out you can you can invest in different types of Cannabis Companies we have a graphic there as well. A volatile industry right now, part of that is because of the lack of government regulation. You are not putting all your eggs in one basket youve got other types more traditional crops it will be interesting to see what happens as this industry grows. Thank you. Grady thank you so much, coming up temper tantrum a report says keep your home 78 degrees to save money not everybody is cool with it Stuart Varney weighs in on debate coming up next, with i am in the workforce i speak with one entrepreneur combining stool to revolutionize womens i lives, the challenge of of fundraising. Back in a minute. Not this. Oh, what am i into . Mostly progressives name your price tool. Helps people find Coverage Options based on their budget. Flo has it, i want it, its a whole thing, and shes right there. Yeah, shes my ride. This dates lame. He has pics of you on his phone. Theyre very tasteful. That a handle is just a handle. Chair is just a chair. Or. That you cant be both inside and outside. Most people havent driven a lincoln. Its the final days of the lincoln summer invitation event. Right now get 0 apr on all lincoln vehicles plus no payments for up to 90 days. Only at your lincoln dealer. Legitima new guidelines from department of energy, energy star outlining what temperature should you keep your home at, in order to save money, it ises going viral this morning joining me right now host of Varney Company Stuart Varney to weigh in hey stu. Okay. You know what is coming. Yeah, yep i do, nanny state no, no, no. Maria okay. You are supposed to leave your airconditioning set at 78 degrees, while you are at home what do you set yours at. Mine is 69. There you go, okay supposed to leave to 82 when you go to sleep at night i take it that you are not at 82. Maria i am like 69, 70. When you go out of the house do you leave for sometime, you are supposed to leave it at 85 degrees, i take it that is not what your house no. Let me admit i have airconditioning in my apartment at 78 degrees. Maria wow. So i am cheap i dont want to spend all that money on airconditioning to bring it down, ive got it at 80, 81, 82 at night because i really dont like sleeping in airconditioning. When i go away, i turn airconditioning off completely i really want to save money, does that set you straight about with a kind of person i really am . I am surprised you are not always sweating. Now spritz, in new york perspire on cape cod got that. Maria steve made point did not want Energy Department telling us where the thermometer temperature tr should be. I am with steve if interest of lowering Carbon Emissions American Consumers will not sacrifice some potential future gain a hundred years from now i leave it at that. Maria all right stu, good enough as i know you will have more in 12 minutes see you top of the hour. It was fun. Varney Company Begins 9 a. M. Mariner after mornings with maria join stuart after this first we are looking at women in workforce speaking with one entrepreneur combining style with organization to revolutionize womens lives a a penning at a report revealing challenges of fundraising for a woman, stay with us. 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Thank you so you started this company how tough getting funding starting being entrepreneur the story starts out with me as architect doing three bag shlep need organizational solution. So right. Became a mom 2016 all of a sudden problem got even worse, from the beginning i bootstrapped completely self fund myself at point doing a campaign on women i decided to take that approach to doing miles an hour kind of raise. Startup funding, is that giving a sneak peek into report tomorrow shows men 20 more likely to receive fundings than women did you have a tough time raising money. Honestly i think the problem more so is the fact that it is a product in the fashion industry that is really, kind of a feedback that i am getting is that you know, there is not as much a return or as quick a return in comparison. That is battle i feel i am having finding the right partners that understand that i want to build a Sustainable Company longer term company have right people onboard to see that growth with me. In terms of learning the business, we talk how tight labor market is are you finding it difficult to find talented folks to work in the organization as you grow it. So my manufacturing is all in america, produced in new jersey incredible threatened team talented team people excited to learn to jump back into making things, so that is why it is important for me also to make things in this country. To bring back, this kind of skill set of craft of making so right now i havent really had any of those problems i have a great team of people and you know i really hire for talent. It doesnt necessarily matter location so most of my team is actually remote. What advice could you give women feel awkward asking for funding. Interestingly i am kind of in that situation something we have to work through to be honest with you i created the bag to be a power piece for women feel amazing kind of walking into that room reminding yourselves youve got it have this level of confidence, ultimately if i dont ask you dont get a matter of kind of as if jumping through that and making that progress and saying you just have to ask what is worst that can happen so right now i have been working on this campaign asking i am asking everyone to support me, and challenging the more you do it the better you get. Good for you, they are beautiful tell us about pricing where people can find your bags. Yeah, so we are allamerican made with italian leather the main squeeze tote 465, organizational insert slips in and out of the bag that is what makes us different, you can have one or multiple organizers for work diaper pagfor gym for travel slip it in and out of the bag instead of multiple bags like most women own at least 15 spend a minimum 500 dollars annually on them you can have one beautiful bag that you invest in, so, yes, everybody can go to sofia fima domford slash fox a special for all your viewers. Special offer for our viewers love it thank you for that we will check it out thanks for coming. Thanks for having me. Great to see you this morning we so appreciate the bags are absolutely beautiful that diana joining us, President Trump tweeted on the trade the fed says doing great with china and other trade deals only problem is we have jay powell and fed like a golfer cant putt no touch big u. S. Growth if he does right thing bike cut dont count on him so far called it wrong only let us down, the president continues, we are competing with many countries that have a far lower Interest Rate and we should be lower than them yesterday highest dollar in u. S. History no inflation, wake up Federal Reserve he writes Growth Potential almost like never before, writes the president. Well be right back. This is the couple who wanted to get away who used expedia to book the Vacation Rental which led to the discovery that sometimes a little down time can lift you right up. Expedia. Everything you need to go. Stuart look at these pictures. Youre looking at my pictures from the International Space station. The space walk expected to last six and half hours and we are watching it live. The astronaut working for the station. Really cool stuff. We had a great show. They can so much for this fantastic panel. Thank you have a great day everybody. Varney and Company Started operating. Stuart good morning maria and good morning everyone. Everybody is trying to boost their economies. America included. New proposals from the president although he says were very far from recession he wants to reduce capital gain taxes by indexing to inflation and he wants a payroll tax cut two. All of that comes on top of his demand for a huge cut from the Federal Reserve. The market like that. Weve seen again of 200point for the dow first thing this morning. That would wipe out yesterdays loss. S p