They hit the take and have full analyst with panel. We have the latest on the deadlock coming up. Turning to markets this morning, futures under pressure ahead of july jobs report. Take a look. We are expecting a decline right out of the gate on dow industrials, nasdaq down 55, s p down 17 after markets ended yesterday near session highs, in fact, nasdaq scoring a fourth record close in a row. Dow industrials up 185 points yesterday and nasdaq 110 and s p up 21 at 4 00 oclock on wall street. Unrest in america, portland plagued by violence and fires overnight. Federal agents headed to two more cities as part of operation legend. Mornings with maria is live right now. Global markets this morning under selling pressure. Take a look at up european indices, dax index in germany lower by 28. Germany showing some signs of recovery, 8. 9 in the month of june. In asia overnight markets were mostly lower following President Trumps executive orders. Shanghai composite down 1 , hang seng and hong kong down one and twothirds percent. Some of the top stories that we are watching this morning. President trump turning up the heat on tiktok and tencentowned wechat bans social media app in 45 days. The company is owned by bike dance, Chinese Company, accused of gathering data that could be shared with Chinese Communist party. Microsoft is leading contender to acquire tiktoks u. S. Operations but any deal can be scrutinized. Portland unrest outside of Police Precinct and at one point rioters throwing paint at a woman using a woman as she confronted them outside of precinct. Democrats and white house officials going overtime hitting a wall after days of talks dashing hopes for reaching an agreement todays deadline when congress is supposed to leave for another lets. Recess. Steven mnuchin says theres obstacles that remain. I think theres a handful of big issues that we are still very far apart. Maria democrats want to spend more than 3. 4 trillion while republicans 1. 1 trillion package. Both sides deeply divided on how much to spend on enhanced jobless benefits. President trump tweeted yesterday upon departing the oval office for ohio. He said ive notified my staff to continue working on an executive order with respect to payroll tax cut, eviction protections, unemployment extensions and Student Loan Repayment options. President trump laying out 6 promises for American Workers during whit in whirlpool manufacturing plant in ohio. Defeating covid19, rebuild american manufacturing, make america the center of medical manufacturing and move millions of manufacturing jobs back to america. These are the president s promises, use tariffs for fight for fair trade and put america first. The second test was a trr tests which are considered the most accurate kind on the market. The governor is planning to have another test on saturday to confirm the negative results. Markets are lower, take a look at futures, indicating decline at start of trading on wall street after President Trump issued executive order to ban transactions with tiktok and wechat in 45 days. We are also standing by for the july jobs report this morning, 8 30 a. M. Eastern. Theyre expecting Unemployment Rate to take down 10. 5 joining me right now sam stovall, Dagen Mcdowell, Mitch Roschelle and joanie courtney. Thank you so much for being here. Good morning. Good morning. Maria earning season slowing down after we saw series of mixed earnings, technology obviously leading the way with the nasdaq recording record after record. Tell me where you see growth and where you believe investors ought to be putting money to work . Well, good morning, maria, good morning, gang. Basically weve been seeing ten percentage point improvement in secondquarter earnings which are expected to be down 46 year on year. Likely to be 36 . The only two areas showing improvement positive year on year changes have been health care and technology, not only in earning space but in the renew area as well with Technology Actually showing a 7 gain in the Second Quarter in earnings. So this year now is likely to be less dire than anticipated and we are still up toward a 30 gain expected for all of 2021. Maria 30 gain of 2021 in terms of earnings, what do you say 30 gain . 30 gain for the s p 500 in terms of earnings when you looked to midcap stocks, thats expected to be closer to 50 gain and small cap stocks expected to be up 100 . Thats the reason that i think investors are optimistic is because they are looking across the valley. They acknowledge that 2020 would be kitchensink year and the companies write down everything and the bounceback would take place next year. Maria i see. Those are really good numbers, but, of course, Dagen Mcdowell they are coming obviously from the nofoottraffic shutdown numbers, huge bounce in 2021. Dagen, jump in. Dagen im going to ask sam something that you asked me yesterday and not to revisit that but the expectation is maria brought up the issue of when we get a vaccine are you going to see a selloff in treasuries and longerterm bonds, in that part of the market because i was looking at the tenyear, tenyear is very close, the yield is to the low hit in march of this year. I think like kind of a flat half of 1 is the low, but nevertheless, sam, one of these markets, the stock market versus treasury market has it wrong. Which one is it . Well, i think that you can even add gold in there as well because when i think of what is driving gold and i am answering your question, believe it or not, i look to the letter cidd, i look to covid or the worry about the covid situation and flight to safety. I for Interest Rates and d for the dollar and d again for deficit of all the spending thats going on. So i wouldnt necessarily say youre going to likely to see a sharp selloff in treasuries. You could see a rotation because of safety trade possibly being lifted but with the potential for anywhere from a 1 to a 3 and a half trillion dollar stimulus package that could end up being approved today, that is on top of the 3 plus trillion already expended by u. S. Congress, so the big worry is that inflation is something that is likely to be creeping higher in the quarters ahead. Maria yeah, weve seen some price hikes in certain commodities just in the last year like meat and chicken, et cetera. Sam, you mentioned stimulus, let me ask you your thoughts on whats going on in washington right now because they cannot agree on a package, democrats want a 3 trilliondollar phase 4, the republicans want 1. 1 trillion and theres a real pushback on money for states and cities as well as the checks going out to americans, what if they dont get something done today . How significant is that going to be for the economy in your view . Well, i think we all know that washington constantly teaches hollywood things or two about drama and today seems to be the cutoff date that they have to actually come to some sort of an agreement and i think they will. I think by the 11th hour they will come up with something if its not by today at least by the weekend and they will have something to announce as we start next week. Maria all right, we will look for that. Sam, its good to see you, thanks so much. My pleasure. Maria sam stovall, morning uber, ridehailing giant reporting expected loss but you can see how the coronavirus seriously hit demand here for the entire industry, ridesharing, uber food Delivery Business more than doubled. Despite challenges uber is standing by goal to be profitable by the end of next year. Stock is down better than 4 on morning mover. We are just Getting Started coming up 7 00 a. M. Eastern, word on wall street, what investors are watching as we wait the julys report and mark penn is here on the impact of kanye west president ial run and who joe biden might choose as president ial candidate, we will learn that soon. Uber losing on earnings going inside the numbers and bright spot for the company amid coronavirus pandemic, food delivery. At 8 00 a. M. Brad and ahead of important meeting for general flynn next week and jobs in america. Full coverage of july employment numbers, dont miss it. Youre watching mornings with maria live on fox business. Maria welcome back unrest in portland. This is the 70th night of demonstrations in the city. The protests coming after police classified wednesdays east precinct demonstration as a riot. Portland mayor ted wheeler spoke out that protestors are only hurting their cause by using violence. Dont think for a moment that you if you have a participating in this activity that you are not being a prop for the real Action Campaign of donald trump because you absolutely are. You are creating the film that would be used in ads nationally to help donald trump during this campaign. You dont want to be part of that, then dont show up. Maria and clearly shows violence, people throwing bricks, people breaking windows, Dagen Mcdowell, these are not peaceful protests so, yeah, this video is going to be shown. I dont know if its necessarily a video and used as props as much as it is reality of whats taking place in portland and you dont have anybody stopping it on the democratic side. Dagen i think the expression on my face with the the mayor really says the words that are going to come out of my mouth. What kind of idiotic narrative is is that . Violence is bad because it could help President Trump get reelected. Thats the best you got. How about standing for the people that live in the city and all of the businesses have been destroyed . How about city still a blaze, theres still violence, anarchy and unrest and just mayhem everywhere, thats the best youve got . Thats the most outrageous thing i have ever heard. By the way, i just want to point out some of the cities that are bringing federal agents in not in this way but as part of operation legend. They are coming in to help with investigation and help local police come back. The dramatic rise in shootings and murders. The list grows, operation legend is now chicago, kansas city, albuquerque, cleveland, detroit, memphis and st. Louis. The mayors of those cities know that they cannot stand by and watch their residents terrorized and businesses destroyed but the morons in portland and in washington and some of them in seattle, they are perfectly happy to stand back because, again, if youre antitrump and thats trumps fight in crime. Maria thats right. Dagen, this has been going on now for his entire term, okay. It doesnt matter that this is serious damage to the city and serious damage to peoples lives. Its about trump, so what, let it go on. It doesnt matter that an fbi agent changed a document and changed evidence to the fisa court so that they could wiretap an innocent american citizen. Who cares that its going against the constitution. Its trump. It doesnt matter if we created a story of collusion and got the whole country up in arms for 2 and a half years. So what, its trump. Its this obsession with losing the grip on power, thats all it is and its outrageous and everybody should be outraged by this. Dagen so these people are so antitrump they are procrime. How does that make any sense in any world . Maria yeah. Its true. We will keep talking about this and we will call it out every time. Coming up the legal threat to the National Rifle association. New yorks case against the nra is coming up next and then the art world down under, australias new museum with a location unlike any other. Wait till you see this. We are going the check it out. Stay with us. Find your keys. Find your getupandgo. Find pants that arent sweats. Find your friends. Find your sense of wander. Find the world is new, again. At chevy wed like to take you there. Now during the chevy open road sales event, get up to 15 of msrp cash back on select 2020 models. Thats over fiftyseven hundred dollars cash back on this equinox. Its time to find new roads, again. Some Companies Still have hr stuck between employeesentering data. A. Changing data. More and more sensitive, personal data. And it doesnt just drag hr down. It drags the entire business down with inefficiency, errors and waste. Its ridiculous. So ridiculous. With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. Where you can find games, news and highlights. All in one place, right on your tv. The xfinity sports zone. Use your voice to search every stat and score. Follow the teams you love. And, even get notifications with breaking news alerts and more. With the xfinity sports zone everybody wins. Now thats simple, easy, awesome. Say xfinity sports zone into your voice remote today. Maria welcome back, taking on the National Rifle association. Attorneys general in new york and washington, d. C. Announced yesterday that they filed lawsuits against the nra and top leaders for diverting funds for personal use and granting contracts to allies. New York Attorney general Latisha James seeking for the nra to be disbanded, joining me on the phone doug burns, your reaction to all of this. Thank you, well, look, maria, ive said it 100 times politics and law dont mix, okay, this is a highlypoliticized situation obviously. I spent a little time, i went through 160page complaint which is absurdly long if you think about it. Its like reading a book for crying out loud but the reality is that its highly, highly political thing. You look at timing obviously heading into 3month stretch until election at the same time i dont prejudge a lawsuit. Funds were mismanaged, okay, that will come out throughout the litigation and closely analyzed and litigated but also the other point that it behooves me to make the solution notion is very extreme, okay, and quick crystal ball in my view, the organization is not going to be dissolved by a court, maria. Maria right, so this is just for politics, you see this as politics . I do. This particular prosecutor if you look at some aspects of her track record, you know, had said raised issues about the nra and made it part of, you know, sort of a platform, but, again, when youre a prosecutor as i was for 9 years, that stuff shouldnt enter it. Im not saying its an invalid lawsuit, thats not my point at all. What im saying in the current climate that we are in theres no question that we are in a full frontal assault on the First Amendment and now this action is a frontal assault on the second amendment. Thats whats going on and so the viewers, your viewers have to sort of see the forest and we are in environment and a continuation of it. Thats my point. Maria first First Amendment and now second amendment. Dagen its the remedy here that the attorney general is going for and thats a Death Penalty to essentially shut the nra down. The wall street journal editorial page writes about this today and asks the question, how does dissolving the nonprofit deliver relief for justice for gun rights donors or their cause. Instead what the attorney general is trying to do is shut down a political opponent or a major opposition Political Force right ahead of election. I want to add that this attorney general in a magazine interview a couple of years ago referred to the nra as a terrorist organization, so just to be clear about where where the attorney general is coming from. First of all, thats a great point, dagen, because here is the thing. When we look at the types of situations, you know, from a legal lens, you know, a lot of times the motivations give themselves away so you make the key point which is that ive been in cases for 30 years over and over where Corporate Executives an people in charities, i was involved in charity cases, moneys were used for personal expenses, those very, very common cases, unfortunately we could say, but the point is this allusion completely gives it away that its a highlypoliticized move and youre 1,000 percent, dagen. Maria thanks so much. Doug burns joining us there. Quick break and then time is running out for tiktok, i will be speaking with Senior State Department official of social media app and where are the vulnerabilities. Dirty dancing makes the comeback, details on sequel coming right back. From fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Stocks by the slice from fidelity. Weve always put safety first. And we always will. For people. For the future. And there has never been a summer when its mattered more. Wherever you go, summer safely. Get 0 apr financing for up to five years on select models and exclusive lease offers. Maria welcome back, good friday morning, everybody, thanks so much for joining us, im maria bartiromo, it is jobs friday august 7th, 6 30 a. M. On the button on the east coast, futures under pressure this morning ahead of important julys job report. Dow futures down 137 points and nasdaq down 54 and s p lower by 16 and a half after the markets ended near session highs, another rally underway with the nasdaq scored 32nd record close of the year. How do you like that with 110point rally on the nasdaq. Yesterday dow industrials up 185 points at 4 00 oclock on wall street. Global markets red across the board in europe, look at this, germany showed some signs of economic recovery, 8. 9 in the month of june fueled by a rise in exports. As you see the germandax index flat down 2 points and the other majors lower by just a fraction. In asia overnight markets were mostly lower following President Trumps executive orders targeting chinese app. Shanghai composite down about 1 . Trade tensions growing between United States and canada now. Cheryl casone with those details. Cheryl. Cheryl weeks after the new trade agreement with canada and mexico went into effect, President Trump reimposed a 10 tariff on canadian aluminum to help protect producers. The white house also saying that certain types of can add canadian aluminum suppressing. 2020 season expected to be active. Agency is predicting as many as 24named storms including 12 total hurricanes and 5 major hurricanes within that. The season already two weeks ahead of record pace and onethird of the way through. 70 chance that cat 3 or greater will hit the u. S. Coast and Officials Say its one of the most active seasonal forecast noah has produced in 22 years. Finally whats trending on foxbusiness. Com Mortgage Rates fell to record low for the eighth time this year bringing the average Home Mortgage 2. 88 . Tom brady and Michael Strahan teaming up on venture called religion and sports and General Motors unveiling electric cadillac suv to hit u. S. Showrooms in 2022. Maria cheryl, thank you. Escalating tensions with china. As you know President Trump issued executive orders on tiktok and wechat, banned any u. S. Transactions with the Parent Companies bite dance and ten cent, it will go in effect in 45 days. Joining me under secretary of state for Economic Growth energy and the environment keith, keith. Great to see you, secretary, thank you so much for being here. Great to be here, maria, thanks for having me back. Maria walk us through some of these threats and why tiktok and wechat are making americans vulnerable . Give us the backdrop . Sure. So, maria, the first thing is its not just about two companies. Its about the ccp, the Chinese Communist partys surveillance and this is an extension of that. Youve talked a lot about hauwei on your show, and if you look at it hauwei is the backbone of this surveillance state and then theres all of the different appendages and like we chat, like tiktok and secretary pompeo announced this on wednesday in terms of the Clean Network and the Clean Network is the administrations comprehensive approach to protecting data privacy, security, it also deals with human rights and collaborative, you know, from an economic standpoint so this is all about that and if you look at what what the communist party has been doing, theyve been collecting our citizens data and these are two big sources of that. Maria yeah. Ive been writing about this in my upcoming book, keith, and ive got a list in front of me from the Book Research of literally 25 arrests just in 2020, whether itd be chinese hackers working to steal covid19 research or Charles Lieber from harvard and taking money from ccp, arkansas, harvard, cleveland clinic, the list goes on. How are we going to stop this . I mean, clearly when the president for 3 years went back and forth with chinese officials about getting a phase 1 trade deal done, the intellectual property theft was the one thing that the Chinese Government said, no, we are not going to stop, we are not even admitting that we are doing it. So whats the longterm plan here in terms of getting the ccp to stop dealing intellectual property as as a goal for growth . I mean, this is their strategy for growth, theft. You know, youre absolutely right that they are stealing intellectual property in massive scale and as you know ive spent 30 years in Silicon Valley and thats the reason why i came to the government because i had a chance to experience it firsthand and now being here i see that they are doing it absolutely on a massive scale, so one of these things, one of the strategies to Clean Networks because and you heard secretary pompeo announce that and the launch of 5 new clean initiatives, so its clean carrier, clean cloud, clean store, clean app and clean cable. Undersea cables where they collect at hyperscale and i think its protecting ourselves on the digital front an also bringing along our allies and as secretary pompeo said, alliance of democracy. Thats a key part of it. If you look at the way they capture information. Its not just hauwei, its the entire system, and then in terms of the infiltration by, you know, the thousand talents program, all the things that youve talked about on your show, we really need to be vigilant and youre right, i mean, theyre in our healthcare system, theyre in our universities and i think the first step is really to wake up the american citizens and President Trump has done that and now citizens all over the world are waking up to this malign regime and they see the pandemic is a result of the concealment of the virus and hong kongs rights eviscerated and human rights abuse and its given the political will to government leaders and corporate ceos all around the world. Maria so, you know, Peter Navarro made an interesting comment last week when i spoke with him and he said, look, the chinese are gathering all of this information and they could use it as blackmail, they could try blackmailing people so i want you to speak to this influencing going on right now from the ccp on government officials because as i understand it based on my original reporting the ccp right now is trying to influence members of congress. Is that true . Well, by the way, they are trying to influence everybody and if you look at the communist partys doctrine its seduced with money and reinforced with intimidation and retaliation. They not only do that to countries, they do it to companies and they do it to individuals. By the way, its part of their economic war craft strategy. Maria all right. How do you expect the chinese to respond because they are talking about retaliating . They are calling this new effort, quote, a textbook case of bullying. The u. S. , quote, has no right to set up the Clean Network. Thats what the ccp is saying this morning and they are promising retaliation so what would you expect in that record . Well, you know, theyre a bully and when you confront a bully, they back down and they really back down if you confront the bully and you have all your friends around you and by the way its about time we stood up to the to the communist party. You saw when Boris Johnson about 4 months ago said we will reconsider that hauwei decision and you saw, you know, and you saw the Chinese Ambassador over there in the uk say, we are going to pull back the 100 billiondollar investment on the railway and secretary pompeo stood up and said, look, we stand with our allies, we are standing up to the china bully and so its basically freedom against authoritarianism, maria. Maria thats what we are calling it here. China versus the free world because it does appear that much of the free world is aligning with the United States on this issue. You have to wonder do you want a communist country, the dominant country in the world, i think most countries would say that. Under secretary keith krach. Final word, go ahead. Thanks, maria. Maria we will see you soon. Keith krach. The Presumptive Democratic nominee facing backlash over comments about diversity now and then this, dirty dancing makes us comeback, details of upcoming sequel ahead and it is time for you ask the questions, ask the panel, will debut later this month. Send us questions to maria foxbusiness. Com. You are watching mornings with maria live on fox business. Next week on mornings with maria, monday, will capitol hill hit you in the wallet, Mick Mulvaney will react. Tuesday congressman doug collins on why the durham investigation must be released before election day. Wednesday counting down to Republican Convention with rnc chair Ronna Mcdaniel tara, did you know geico is now offering an extra 15 credit on car and motorcycle policies . Wow. Ok thats 15 on top of what geico could already save you. So what are you waiting for . Idina menzel to sing your own theme song . Tara, tara, look at her go with a fresh cup of joe. Gettin down to work early following her dreams into taxidermy oh, its. Tax attorney. I read that wrong, oh yeeaaaah geico. Save an extra 15 percent when you switch by october 7th. Give it up for tara now every bath fitter bathbath fis installed quickly, when you switch by october 7th. Safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. Maria welcome back, former Vice PresidentPresumptive Democratic president ial nominee joe biden is walking back comments this morning that he made yesterday comparing black and hispanic voters, watch. What you all know but most people dont know unlike the Africanamerican Community with notable exceptions the Latino Community is incredibly Diverse Community with incredibly different attitudes about different things. Maria biden responding to backlash over his statements on twitter, then he wrote this, earlier today i made some comments about diversity in the africanamerican and latino communities that i want to clarify. In no way did i mean to suggest the Africanamerican Community is monolithic not by identity, not on issue, not at all. Joining me republican strategist Jonathan Madison and Founding Partner and democratic strategist Michael Starr hopkins and great to see everybody this morning, thank you, gentlemen, for being here. Michael, i want to kick it off with you, whats your take on joe bidens condition . Frankly i think its really, you know, disappointing that anybody would put him out in this condition. Its very sad to see. I mean, i feel perfectly fine with joe bidens condition especially running against donald trump. You know, i think that his comments were inarticulate but, you know, what im really focused on is the president s failed response to the coronavirus and the fact that in the nations capitol 30 of all africanamerican children are testing positive for coronavirus. In the country African Americans two times likely to have the coronavirus. Maria hold on. You said 30 of africanamerican children are testing positive for coronavirus . Where are you getting the stats . I have not seen that so i dont know i cant say that thats true. I have no idea where youre getting that. Okay. So last night nbc, local affiliate here producer report said that 7 of white children, 30 of africanamerican children and and thats directly tied to the president s failed corona response. Thats what im focused on right now. Maria look, i understand we are in an Election Year and understand theres a lot of politics going around, but for you to say that are perfectly fine with joe bidens performance and youre more interested in donald trump has handled the coronavirus is really is really stunning. For you to say that joe bidens condition, theres nothing wrong, theres a gaffe every day, theres clearly a cognitive issue here. We know that joe biden has had aneurysm and to put him out first of all, maria. Thats not a fact. We do not theres no evidence that joe biden has had multiple brain aneurysms, thats irresponsible to report that. Maria i said two. Hes already spoken about one, okay, hes already spoken about one and we know that he has one but there could be two which is what ive heard. If i could chime in here. Maria im sorry . Maria, if i can chime with you. Those are interesting points, michael. I know its an Election Year but we are here to debate the Vice President s statements and for you to say look how bad the current president is and dont look at how bad the Vice President s statements with regard to African Americans. Its offensive and insensitive to African Americans around the country. This is the second bite at the apple that joe biden has had to actually say meaningful toward the Africanamerican Community. I guess you find it appeasing when he told African Americans that you aint black if you dont vote for him and now saying that the Latino Community is far more diverse than the Africanamerican Community and youre saying inarticulate. Thats inarticulate what you have just said. Hes had several bites at the apple and just went on national tv recently and when somebody asked him if he had cognitive issue, his response was thats equivalent to cocaine testing. I dont think we can sit back here and say, well, just look at how bad the current president is. We need to evaluate every president ial candidate regardless of the merit and regardless of the race and for you to sit here and say that highly offensive. We need to hold every member accountable including the Vice President. Well, im glad that you think that because because we should look at records and donald trump has been sued multiple times for not allowing African Americans not to live in apartments an donald trump has been sued several times for not allowing African Americans to work in casinos. You havent said one good thing about the Vice President. [laughter] we can talk about the president all day. Maria just to be fair, to be fair, jonathan, should the president have had dealt with coronavirus differently . He did stop travel and was a big deal and jon says it joe bidn says it was the wrong move and it was him acting prejudice by him doing that. That was a smart move of the president but should the president have acted any more aggressive, jonathan . Lets be clear. Im not giving anybody off the hook here, but michael, the fact that you would not acknowledge what joe biden has been saying. Yesterday he called the interview, he asked him if he was a junky, where did that come from . Yeah, i have no problem saying that joe biden was too flippant in the interview, thats something that he admitted and the fact that hes willing to admit maria and you believe hes in a position to run the free world . Do you believe Michael Starr hopkins in a position to be president . I have no problem with joe biden being president and im excited to vote for him come november. Maria jonathan, final word. Yeah, you know, if anything i just like to conclude by saying, you know, joe biden ive had Great Respect and admiration for him as Vice President , former Vice President , but theres no excuse, no excuse for him to make several comments about condescending in the Africanamerican Community, how to vote for the most part so thats all i would say. We need to evaluate every president ial candidate and we dont need to sit here with talking points. Maria thats right, thank you so much. We will be right back. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Maria welcome back, time for the morning buzz, first up art thats making a splash. Youre going to have to go down under for this one. The museum of under water art has officially opened along australias Great Barrier reef. The museum features variety of sculptors. Joanie, would you take a dive and check this out . I have to say, maria, im not a big scuba diver i dont know. Im dying to go to australia. [laughter] they say they are opening these they are going to have other locations. I know theres also one in cancun. So it is definitely a hot spot for cuba scuba divers. Maria next up baby is back, dirty dancing and first dirty dancing movie released in 1987 and grossed 118 million worldwide. Dagen, are you going to go see it . Dagen yes, i miss patrick and as it turns out Mountain Lake where it was filmed is refilling the water its in virginia, not far from where i grew up and the water drained out of it and now its refilling so they could potentially fill new mexico the same film in the same spot so imagine that. Maria i love it. That is cool. Full ahead jobs in america in julys job report, all coming up right here mornings with maria live on fox business. Apps are used everywhere. Except work. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com maria welcome back. Good friday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is jobs friday, august 7th. Your your top stories, right now, just before 7 00 a. M. On the east coast. President trump takes aim at popular chinese apps. Two executive orders are banning transactions with we chat and tiktok. These stories ahead. Jobs in America Today another look at the impact the coronavirus is having on the american economy. Ebbing onistheyre expecting the Unemployment Rate to tick down to 10. 5 . Well bring you the numbers as soon as they hit the tape and tell you how its impacting markets. Thats coming up at 8 30 a. M. Eastern. Stimulus showdown. No deal in washington. Were taking a look at the dead lock. Markets are under pressure as a result of no deal so far and ahead of the july jobs report. Dow futures are down 100, s p futures lower by 12 and a quarter. This after a big rally yesterday and the markets ended near session highs. Nasdaq scored its fourth record close in a row with a gain of 110 points, dow up 185 points at 4 00 on wall street. Unrest in america continues, portland once again plagued by violence and fires overnight. Federal agents headed to two more cities as part of operation legend. Mornings with maria is live right now. Global markets under selling pressure this morning, take a look at the european indices which is a mixed story, germany showing signs of recovery, industrial output up 8. 9 in the month of june. Fueled by a rise in german exports. The dax index is now up by 17 points. In asia overnight markets were mostly lower following President Trumps executive orders, targeting those chinese apps. The shanghai composite down 1 , hang seng in hong kong down 1 and two thirds percent. Joining the conversation this morning Dagen Mcdowell and joanie courtney. We have all hands on deck come 8 00 a. M. With the jobs numbers. Great to see everybody this morning. Dagen great to see you. Joanie good morning. Maria some of the top stories were watching right now. President trump is turning up the heat on tic tiktok and we c, signing an executive order that bans the chinese social media apps in 45 days, the president calls tiktok a threat to national security. The Company Owned by bite dance, Chinese Company, is accused of gathering user data that could be shared with Chinas Communist Party government. Tiktok is denying its controlled by beijing. Microsoft is a leading contender to acquire tiktoks u. S. Operations. Any deal will be closely watched. Portland in unrest continues, violence erupted overnight for a 70th straight day. Rioters setting fires outside of a Police Precinct. Rioters are seen throwing paint on an elderly woman using a walker as she confronted them outside of the precinct. No major progress on another round of stimulus in washington. Democrats and white house officials hitting a wall after days of talks, dashing hopes of reaching an agreement. Treasury secretary Steven Mnuchin says major obstacles remain for a deal. I think theres a lot of issues we are close to a compromise position on but i think theres a handful of very big issues that we are still very far apart. Maria one of those is the price. Democrats want to spend 3. 4 trillion on a package, republicans are proposing a 1. 1 trillion package. Theres some that dont want to vote for any new money. They are deeply divided over how much to spend on enhanced jobless benefits. President trump tweeted this yesterday upon departing the owe of vaoval office. I notified the staff to continue working on an executive order with respect to a payroll tax cut, unemployment extensions and Student Loan Repayment options writes the president. President trump laid out six promises for American Workers once he got to ohio during that visit to the whirlpool manufacturing plant in ohio, he writes this, including defeating covid19, he said he will rebuild american manufacturing, make america the center of medical manufacturing and move millions of manufacturing jobs back to america and he will use tariffs to fight for fair trade and put workers first. The president said yesterday. Time for the word on wall street, everything you need to know to make smart decisions with your money. Joining me right now is Capital Management managing person, brin taggington, tom lieden and michael lee strategys michael lee. Thank you very much for joining us. Jobs in america, the july jobs report out in about an hour andahalf, economists are expecting 1. 6 million jobs added in july. The Unemployment Rate is expected to tick down to 10. 5 . Brin, what are you expecting in the next hour . What would you say is already priced into this market . Will we see markets react . The futures are down right now. I think we got a peek earlier this week when jobless claims came in at 1. 1 million, which is actually the best number since the beginning of the pandemic. I mean, we still have about 17. 8 million unemployed. The markets expecting 10. 5 unemployment. Well see if we can move in the right direction. But i do think we still are moving in the right direction and futures are down today but clearly the trend has been positive over the past few months. And so i think as long as we continue to have that move in the right direction, we have a lot of wood to chop. In 2019 we had 3. 5 unemployment. Well hopefully get 10. 5 today. If the legislative branch can get together and put more stimulus together i think the markets will continue to rally. Maria i guess what im really asking is what are your expectations over the near term for the economy . Do you expect a 20 growth story in the second half of the year which many people are expecting . Will we see a bounceback . Well, i think well definitely see a bounceback. I mean, we saw the worst gdp print ever and so were off such a low base and so my view is things will get less worse. And i think the economy in general looks more like a recovery, like a checkmark where you have a much longer time to recovery. But i think the markets will continue to go higher because as the economy recovers, i live here in texas, and were settling in with the new normal. People are wearing masks. People want to get back to work. People dont want to be stuck in their house and they want to be smart so i do think well continue to see a recovery but it will be slow and we will have bumps along the way. Maria all right. The other major story escalating tensions with china, the president issued executive orders last night on chinese apps tiktok and we chat. The orders ban u. S. Transactions with the Parent Companies, bite dance and ten cent and they go into effect in 45 days even as microsoft is negotiating to take over u. S. Operations for tiktok. The action against ten cent could spell trouble for gamer as the developer owns league of legends. Mike, your reaction here. A lot of ten tentacles coming fm china. Youve chronicled this very well for a while now that the Chinese Communist party is probably the most vile regime the world has ever faced. Were at an economic war with the Chinese Communist party. Theyre seeking to become the saudi arabia of data. I believe they were behind the equifax data hack a few years ago and the office of personal management from the United States government and now tiktok is nothing more than a trojan app into our phones for chinese spyware. I think this is i think the president should have acted stronger and quicker on this. I agree with him on this. Im not worried about any company that wants to be a patsy for the Chinese Communist party. Hopefully this is a warning shot across the bow for all these companies. Its time to wake up that we are at war with these people and its time for america to decouple with china until the Chinese Communist party is out of power. Maria you make a good point. Actually, you saying this is the worst regime that weve seen, there are people right now who are analyzing this, comparing the ccp to the nazis and there are people out there talking about the Chinese Communist party and this moment in time being 1939, that you dont want to enable this regime. So i mean, obviously the nazi party was the worst weve ever seen and its amazing to see the you know, the comparisons, because there are a lot of people making those comparisons. Real quick, before i go on to the next subject, mike, what about the chinese stocks traded on the nyse and nasdaq . Do you think theyll continue going down . What should investors do if they own them . Until they can comply with u. S. Economy rules, you should get out. You should not have any exposure to these stocks. You have no idea if you own something fraudulent or a legitimate company. I would completely steer clear of anything like that until they comply with u. S. Economy rules. Maria paying off your credit card, the u. S. Credit card debt now seeing the steepest decline on record, 76 billion from april through june according to the new york fed, this is the only time since the Great Depression that Credit Card Debt has fallen in the spring. Tom, is cutting down on this debt good for the economy . Well, its good for the economy. Its really good for americans. Theyve done a good job tightening their belt. In many cases, maria, theyve been forced to, cutting back on vacations, cutting back on travel, cutting back on luxury goods. Most people are staying at home and doing a good job with that, spending time maybe with just consumer staples, buying puzzles and board games, spending time request their family. With their family. Thats been really good. The uncertain thing is this. We still have 14. 3 trillion in consumer debt. There has been some cutbacks in car purchases, but actually increase in mortgages which has been very good with the low Mortgage Rates. So consumers are confident but definitely cut back to a great degree. Maria yeah, i mean, i was actually pleased to see the savings rate back up to 25 . Of course, you need to see the Consumer Spending, twothirds of Economic Growth is Consumer Spending but its also nice to see people getting their Balance Sheets in order with the savings going up. Brin, tom and michael lee. Go ahead, tom. The big thing, when you look at etfs, we could have a record year in etf flows and thats not just big investors, thats small investor as well. So when you talk about tightening your belts its not only tightening the debt but putting money away. There are signs that people are delaying retirement, delaying bigger home purchases. Americans are being responsible during this time and thats a good thing. Maria yeah. And its good to see the diversity in etfs resonating as well across institution as well as individuals. Thank you, everybody. Great word on wall street. We appreciate it. When we come back, much more coming up, former Senior Advisor to the clinton, mark penn is here, the impact of kanye wests president ial run. Uber shares are under pressure, a sign of the times. Second Quarter Results below estimates. There is one bright spot. The stock is down three and a quarter percent this morning. Next hour, ohio congressman Brad Winstrop is here on the stimulus battle. Jobs in america, full coverage of the july employment numbers out in about an hour andahalf from now. Dont miss it. Youre watching mornings with maria live on fox business. The new house is amazing. So much character. Original crown molding, walk in closets. We do have a ratt problem. Round and round with love well find a way, just give it time. At least geico makes bundling our home and Car Insurance easy. It does help us save. Round and round with love well find a way, just give it time. Round and round what comes around, goes around. For bundling made easy, go to geico. Com weve always put safety first. And we always will. For people. For the future. And there has never been a summer when its mattered more. Wherever you go, summer safely. Get 0 apr financing for up to five years on select models and exclusive lease offers. Maria welcome back. Well, the 2020 race could get a spoiler, in a new interview with forbes rapper kanye west hinting his president ial campaign is designed to take away votes from joe biden. When asked if he knew he wouldnt be able to capture the needed votes to win, west replied, quote, im not going to argue with you. Joining me right now is former senior clinton advisor and takingwell Group Managing partner, mark penn. Good to see you. Do you think that kanye west just admitted hes in the race to take votes away from biden . I read that interview several times. I couldnt quite figure that out, whether he was just in the race to get votes for himself or biden, he doesnt really say that. I think theres no question that hes more likely to siphon votes off of biden, more likely to get africanamerican and Younger Generation votes that vote overwhelmingly for the democrats so hell likely, if he does get much traction, play that role. But whether or not he is in fact doing it in order to be a spoiler, i would not kind of try to divine his intentions. Maria so you said that the black Community Overwhelmingly votes for the democrats . Well, they do. I mean, i think over 90 , typically. So if kanye gets more Younger Voters and kind of more africanamerican voters, hes more likely i think to draw from biden. Is he a spoiler . Well, i think last time you had the green party, you had the libertarian party, i think weve had a tradition now of having several independent parties get several percentages of the vote. Maria all right. So what about joe bidens running mate . He has said that hes going to be picking a woman for the position. Kamala harris, susan rice, both seen as top contenders. Who do you expect biden to choose as his Vice President ial candidate . Is there a deadline he needs to meet to make this happen, to make this announcement . I think that the sooner he does it, the more i think he really lifts his campaign, provides some momentum. Im surprised he didnt pick Kamala Harris already. I mean, i think that shes a very logical pick. I think she did attack him in the primary. But so Lynn Don Johnson and john f. Kennedy werent best friends either. I think she signal as a former prosecutor a somewhat more moderate position where susan rice i think would be tagged with the famous email about dont worry, were doing everything by the book and would put the trump allegations at the center of the president ial campaign. Maria thats a good point. The russia situation may very well at the center of the campaign, because were waiting on john durham, mark. A word on biden. I want to bring dagen in here. But give me your sense of joe biden with all of these gaffes. Yesterday, hes asking a reporter if hes a junkie. Today, hes comparing hispanics and blacks in terms of their diversity. Whats going on . Well, yesterday was not joe bidens best day. His very odd comment about the well, you know, hispanics have more diversity than blacks, the black community didnt make any sense, i think he pulled it back. It wasnt a good day for joe biden. Every candidate i think Donald Trumps had some bad days out on the stump here so far. Look, i think that in general, joe bidens margins here have closed in the last two weeks. I think trump has gotten more on the campaign trail. But biden still has a significant lead in the polls, albeit about half of what it was two weeks ago. Maria yeah, if you believe the polls, Dagen Mcdowell. Dagen thats true. But mark, one of the central issues with some of the things that joe biden has said, again, and you go back to his interview with charlamagne where he what was the comment, about if you vote for trump, you aint black and the campaign dismissed him as him making a joke. Nevertheless, this campaign has to get out the vote. There were 4. 4 million voters who came out for president obama in 2012 who did not come out four years ago for Hillary Clinton, about more than onethird of them were black voters. Does this hurt joe biden at all . Well, were not seeing that any of these comments hurt joe biden. He came through the primary where everybody said joe biden, hes out of it, hes not going to win the primary. So i dont think these individual comments are. To me, the real question that is going to help or hurt him is that typically when you run in a democratic primary, youre moving to the left. And when youre in the general election, you move somewhat to the center, to try to get the swing voters. Here, and i think weve seen this pattern emerge several times, i think it emerged with hillary as well, joe biden was the moderate in the primary and now he is kind of making more and more deals with groups to get his base vote out and so he appears to be moving somewhat more to the left. And i think Hillary Clinton did the same thing. Its the opposite of what i think is the ideal winning formula for any candidate coming out of the republican or democratic party. They should be moving to the center because thats where the real swing voters are in america. Maria right. And you think that joe biden can lead the country for four years . Well, do i think joe look, he was Vice President for eight years. I think that maria thats talking about today, 2020, im talking about today and the next four years. Do you think that he joe biden has not been out one on one, president ial debate, with President Trump and i think that will tell a lot to the American People. And expectations, remember, have been driven so low for joe biden that he could welcome off as a much better candidate than people expect because of these low expectations. Maria all right. Well, weve got to get to the debates. Mark, its good to see you as always, thank you, sir. Mark penn. Well be right back. Tada did you know Liberty Mutual customizes your Car Insurance so you only pay for what you need . I should get a quote. Do it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Maria welcome back. Arkansas senator tom cotton introducing a new bill aimed at keeping colleges and universities honest and consistent when it comes to free speech on campus. Parts of the campus free speech restoration act include outlawing free speech zones and loss of federal aid if colleges do not disclose policies on free expression. Dagen, weve seen way too many stories of universities trying to censor peoples speech when they come to make speeches, et cetera, which is of course what brought this on from tom cotton. Dagen i would argue that any legislation coming out of washington would not change the kind of leftist think and thought police on College Campuses in this way, because you might get failed by a professor if you speak your mind, that it doesnt that it doesnt go far enough to changing the way that a lot of universities and colleges are run in this country. I mentioned this article that emily dishinski wrote at the federalist, it was essentially about we live in this binary world where there is one choice, youre either a progressive or a bigot and this has come out of teaching in colleges on these campuses where the texts they have been assigned to literally a generation of students push this narrative over and over again and now you have the professional world full of people who say, hey, youre either a racist or youre a democrat. Like that is the thats the choice that theyve been faced with and thats why weve had this kind of crazy summer where people are resigning or getting fired for things that were said and done decades ago. Its got to change. Maybe this takes a step in that direction but it wont go far enough to change the thinking and the teaching in colleges. Maria youre right. But at a minimum, if they are worried about losing federal grant money, maybe University Leadership will be more involved in ensuring that conservative conversation is not stomped down. Dagen not even conservative conversation. It is the fact that if you push back on, you know, left wing liberalism then youre automatically even if youre not a conservative, even if youre just coming from a place of hey, i want to have a discussion about this, im not just going to eat it down and choke it down hook, line and sinker. Youre labeled a bigot and a racist. I do think, though, that parents and students are going to demand more from universities coming out of this shutdown from the pandemic because people need skills to get jobs and theyre just sick of the lecturing and the teaching that doesnt help them develop a livelihood after they graduate. Maria. I would agree with youn that, dagen, i think right now, parents are not going to want to invest or spend that money on this education when children are staying home. But i have to say with this bill, maria, i think the best thing is these institutions are taking all this Financial Aid to have them disclose things with this bill, i think it would be eyeopening to see what their policies really are. So there are some really good things in this bill that i think would open some peoples eyes about what their policies are. Maria yeah. Good job from senator cotton. Coming up, time is running out for tiktok, the latest on President Trumps executive orders last night on the popular social media app as well as the app of we chat. Stay with us. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Maria welcome back. Good friday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is jobs friday, august 8th. A look at markets this morning 7 32 a. M. On the east coast. We are expecting a decline at the start of trading this morning, futures under pressure with no deal on stimulus and the july jobs report out in about an hours time, this after markets ended near session highs yesterday. This morning the dow industrials are down 100 points, yesterday, up 185 at the close. The nasdaq scored the 32nd record close of the year yesterday, up 110 points. Glow bagermany shows signs of r, industrial output rose 8. 9 in the month of june. The dax index popping up about 1 points right now, 31 points right now. The cac in paris is down 10 points. In asia overnight markets were mostly lower following President Trumps executive orders targeting chinese apps, the shanghai composite down about 1 , the hang seng down 1 and two thirds percent. Capital one financial hit with a major fine. Cheryl casone with those details. Cheryl top u. S. Banking regulator ordered capital one to pay 80 million after a major hack last year. Personal information including names and addresses and Social Security numbers of more than 100 Million People in the u. S. And 6 million in canada was stolen. The regulator says that capital one failed to adequately assess risk before moving Information Technology operation toss the cloud. The bank has been ordered to improve its cyber security. Shares of capital one down 38 so far this year. Well, Amc Entertainment says it plans to reopen all of its International Theaters in the next two to three weeks and about twothirds of its u. S. Theaters later this month. Theaters have been closed since midmarch costing amc 561 million in the Second Quarter. Just last week amc and Universal Pictures announced a groundbreaking deal that would allow the studios move movies e available at home after three weeks end in the theaters. Senator Bernie Sanders is going after the ultra rich, the vermont lawmaker and former president ial candidate along with senators Mark Gillibrand are sponsoring a bill that would impose a 60 wealth tax on billionaires. Under this measure, jeff bezos would pay 43 billion and Mark Zuckerberg would fork over nearly 23 billion, maria. Those are your headlines. Back to you. Maria all right, cheryl. Thank you so much. Turning to the ongoing russia probe and the origins of it, the d. C. Court of appeals set for a rehearing of the Michael Flynn case this upcoming tuesday. The court is telling those involved to answer questions on federal statutes and the courts impartiality. One court could be moving to question whether or not a judge on another court is impartial. Joining me right now is former Trump National security advisor, kt mcfarland is here. Thanks so much for joining us. Its a pleasure and an honor, maria. Maria pretty incredible that weve got this upcoming hearing of general flynn and that judge Emmett Sullivan does not want to drop the case, even as the doj says we want the charges dropped. We are awaiting what takes place this upcoming tuesday. What would you expect . Well, hopefully its the end. I mean, hopefully the hearings on tuesday and the conclusion of those hearings says okay, Michael Flynn, youre a free man and they follow what should be the law and what should be the honor and dignity of justice, because heres the thing. I think that the Justice Department people who have been persecuting flynn throughout and the fbi have been persecuting him throughout, they want to kick this down the road. They want to kick it past the election because they think biden might win and then theyll really go after not just general flynn, but everybody associated with donald trump. In my mind, justice delayed is justice denied and general flynn deserves justice now. Maria yeah. And we know that he was ambushed just the way you were ambushed. We have talked about you that in the past. Want to ask you your reaction to what we heard from sally yates this past week. The former acting attorney general appeared before the Senate Judiciary committee as you know. You are taking issue with what she said about you. You write in a fox news oped, she suggested wrongly that i was a conduit passing along directives from president elect trump to retired Army Lieutenant general Michael Flynn on what to say to the Russian Ambassador. She claimed my call was part of a deliberately planned set of conversations on the part of the Incoming Trump administration to neuter president obamas sanctions against russia for interfering in the 2016 election. Theres just one problem. Thats not what happened. Kt, what did happen . Look, shes describing a telephone call i had with general flynn and unless she was listening into it, she really has no right to claim the things that she did. General flynn and i didnt talk about what donald trump wanted them to do with the russians. There was no big conspiracy as sally yates implied. General flynn and i had a very legitimate conversation which we should have had before he talked to the Russian Ambassador about the history of sanctions. There was nothing wrong with that conversation. General flynn had the conversation with the Russian Ambassador. He did nothing wrong in that. After he reported back to moment heres the thing, maria, the obama Senior Intelligence officials and Justice Department officials and maybe people in the west wing, they had a vast Conspiracy Theory that donald trump was trying to neuter their effect of the sanctions effect on the russians. If they were so concerned about russian interference in the hell e, why didnt they do something when it would have made a difference . They knew about it for weeks if not months before the election, do something then. Or maybe the day after, do something then. But to wait three weeks before President Trump was to take office and then basically throw a hot potato onto the desk of the oval office, potential u. S. Russia crisis as donald trump takes office, i think that that if anybodys violating laws, its then because they were trying to box President Trump in. Maria right. Because now with all of the declassified information, we now know that there was no collusion with russia and they could not find any evidence of collusion with russia, even as late as january 17th, as the president was getting ready for inauguration. And whats more important to them was just creating the illusion of collusion, creating news stories so that the country could maybe think, well, maybe he colluded. Thats what it was all about. Yeah. They knew from the getgo there was nothing there. And they dragged the country through three years of bitter accry mobitterness and an on usn sources saying donald trump was a stooge of vladimir putin. They were going to sabotage the presidency from the beginning. They dragged the country to the place where we are now of division and bitterness against each other. Maria theres a real cost to this. And i talk about this in my upcoming book as well because while the whole country was going nuts of over potential collusion between donald trump and the russians, they missed the real adversary out there, which is china. And today, we sees craigslisting tensions with china escalating tensions with china. I spoke with doug collins of the judiciary committee, that out of the 30 hearings that had in judiciary throughout 2019, 21 were about investigating trump. Just nine were about other threats that the country faces. I mean, the president issued executive orders last night on chinese apps tiktok and wechat, it bans any transactions with the Parent Companies, bite dance and tencent. You have studied china when were you in your role and throughout your career. This is an adversary that is actually ramping up its Espionage Campaign against american citizens and they missed it. They were looking for ghosts under the bed in russia. Yeah. And there was an elephant in the room at the same time. God bless donald trump. In the middle of a pandemic, in the middle of an economic crisis and social unrest, hes got his eye on the main event which is the strategic and economic and longterm threat posed by china. And what theyre trying to do. Wechat, tiktok, what that would allow them to do is listen into all communications of everybody who has that app on their phone. Not just what are you talking about but your medical data, your financial day that donald trump he understands that its now or never. You stand up to china now or youll never been able to catch them in the future. God bless him for doing that because that is the real strategic threat and he is the First American president to have the guts to take them on. Maria yeah, its true. And at this point you are seeing allies ayou cross the world actually aligned with the United States against this. This is china versus the free world. Kt, were going to keep following it and we love your insights. Thanks so much for being here. Thanks, maria. Maria kt mcfarland joining us. Stay with us. Well be right back. Weve got the jobs numbers coming out in 45 minutes. Im still discovering whats next. And still going for my best. Even though i live with a higher risk of stroke due to afib. Not caused by a heart valve problem. So if theres a better treatment than warfarin, im reaching for that. Eliquis. Eliquis is proven to reduce stroke risk better than warfarin. Plus has significantly less major bleeding than warfarin. Eliquis is fdaapproved and has both. Whats next . Im on board. Dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. While taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Ask your doctor about eliquis. And if your ability to afford. Your medication has changed, we want to help. Maria welcome back. The covid19 pandemic hitting the bottom line of uber, the ride hailing app posted a nearly 2 billion loss in the Second Quarter, although its food Delivery Business grew. Uber eats doubled from last year, bringing in more revenue than ride hailing for the first time ever. Joining us right now is bradley tusk from tusk ventures. Hes the founder and ceo. Bradley, great to have you this morning. Thanks so much for joining me. Thanks you for having thank you for having me. Maria you were an early investor in uber. Thats why we wanted to talk to you today. You knew, you had the vision of the strength of uber when you first invested in this company but everythings changed right now. Weve seen whats going on with driving. Whats your take on these most recent results . Yeah, i mean, theyre obviously not good, no one is surprised by that. But i think the question that people are not asking as much as they probably should is uber has had a new ceo now for three years and hes great at promising things will be better one day but he never delivers on it. So obviously a ride sharing business is not going to do well during a pandemic. Thats fair enough. But now its oh, were going to be okay because of deliveries. But whatever it is, you know, theres always sort of this like goal post being moved back and back and at a certain point you have to question, one, will the company ever be profitable and two, does it have the right leadership. Maria do you think that uber eats could actually be the growth story and save this company . I mean, youre talking about leadership. Is that really at the end of the day all that we need here, different leadership . Well, i think its one thing that you need but i think overall, no, i dont think uber eats in and of itself is enough to make this 50 or 100 billion company. Maybe its a 10 billion company as a successful Food Delivery Service in the u. S. What uber has to get to is the original vision that i invested in which is were going to be the amazon of transportation, whether delivering a person from point a to point b, a burrito, a ton of cargo, whatever it is, uber is taking a cut on every ride, every transaction. If uber can achieve that original vision, its still an amazing company. But we havent seen anything in the last couple years to indicate not only that they will achieve that vision, but theres even the ability internally potentially to achieve it. Maria joanie courtney, jump in. Joanie yeah, bradley, hi. My question really i guess when you look at uber and you think of just what were all experiencing with the pandemic, that this is a temporary situation and that when it pertains to transportation, yes, things have shut down. Not surprised to see their revenues decline so much. But still looking at it as this is an industry that has been temporarily impacted and could possibly even come back stronger, you know, not only with their uber eats business but wouldnt you think the rides sharing model would come back or that there would be other things. So im a little surprised to hear you say that but can you elaborate a little bit more on where you think opportunities would be . What are they not looking at that that could change their model . Look, i do think that they could keep growing the uber eats business. If ride sharing had been even vaguely profitable before the pandemic, i think you could say it will come back eventually when we have a vaccine and it will be better. Except that with 50 Million People having filed for unemployment, im not sure that they have this disposable income to keep spending on uber rides as opposed to mass transit or walking or their own cars or whatever else. Ultimately, almost ironically, the thing that uber could do to become profitable, better than anything else, i would argue is actually doing kind of a uturn and embrace some of the legislative change thats saying their drivers have to be employees. Simply because if you right now are independent contractor you can drive for uber and lyft and thats what every driver does. If you are an employee, uber could say, look, you can only drive for us, youre our employee, and eventually if uber can do that with enough of its drivers, lyft loses so many drivers on the platform that wait times go up, they lose customers and lyft no longer exists. So if uber ever wants to get the Unit Economics for ride sharing right they probably need to drive lyft out of business and this would be a way to do it. Maria bradley, real quick, do you want to see a change in the ceo . Yeah, i mean, look, i sold my shares because i have no confidence in him but i think for three years we get a guy who smiles nicely and makes great promisings and achieves promises and achieves none of it. Maria well keep looking at that. Come back soon so we can talk more about that. Bradley, great to get your insights this morning. Thank you, sir. Well be right back. The volatility. The ambiguity. The moment calls for more. And Northern Trust delivers more. With specialized expertise. Proven strategies rooted in data and analytics. And insights borne from over 130 years of successfully navigating economic turbulence. Giving you clarity. Inspiring confidence. And helping you uncover new paths forward. Northern trust. Wealth management. Now every bath fitter bathbath fis installed quickly, Northern Trust. Safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. Puts its customers a wiin charge . Rier well, the good news gets shared. And it gets rated 1 for customer satisfaction. But dont just take our word for it. Take theirs. Its your wireless. Your rules. Only with xfinity mobile. Call, click or visit a store today. Whatintroducing the new sleepld . Number 360 smart bed. Now temperature balancing, so you can sleep better together. Can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. Can it help with snoring . Ive never heard snoring. Exactly. No problem. And done. Will it help me keep up with mom . You got this. So you can really promise better sleep . Not promise. Prove. Its our weekend special with 0 interest for 48 months on all smart beds. Ends monday. Maria welcome back. We have breaking news right now, tiktok is responding to President Trumps executive order, tikto tiks saysays it itd hehehee c downnn out dueout duou renevreare the tneseer gnmentt orceed coni seonresesp. On fit ursu,p yo hollywood hypocrhyisy,is mon aeraying she wouldouou boycott goya prod, kristie tiegens showed goya pea as she showed a recipe for ox tail stew. Can you say busted . Dagen i wont say one word about her. She is fierce and she will come for you and so will all of her fans on social media. That being said, thats why the posturing that you get and the when Something Like this happens, like oh, trump wins, im moving to canada or im moving to mars or whatever it is. It never works out. Like there are other if youre upset about something, theres other things you can do rather than im boycotting tea today. Maria yeah. Next up, chef gordo gordon ramsa glutton for president. Watch this. Oh, my god, no flour, stop this. What are you doing . You cant be serious. Theres nothing british about that. In the microwave, are you kidding me . What . Maria [ laughter ] the celebrity chef reacting to a tiktok video from a woman who makes questionable british cuisine, in this fish and chips recipe she seemed to take a whole fish from the beach, batter is and then she microwaved it and chef ramsey was horrified. He simply tells her youve never been to britain. Joanie, what do you say . Joanie this is hysterical. Gordon ramsay does such a great job with his tiktok videos. He may get shut down with that, as we know. But it is so fun to watch him critique people. This one i think is just hysterical, that this woman is taking a fish right from the beach and hes horrified that anyone would make fish and chips that way. Hihysterical. Maria exactly. All right. Still ahead jobs in america, or full coverage, our hands on deck for the july jobs report, begins the top of next hour, youre watching mornings with maria live on fox business. Stay with us. Ng. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Weve always put safety first. And we always will. For people. For the future. And there has never been a summer when its mattered more. Wherever you go, summer safely. Get 0 apr financing for up to five years on select models and exclusive lease offers. Outside. Maria welcome back. Good friday morning, everybody thanks for joining us. Im maria bartiromo. Jobs friday august 7 top stories 8 00 a. M. On the nose on the east coast, jobs in america, 30 minutes from now we will get a look at impact of the coronavirus is having on american economy, economists expecting 1. 6 million jobs, added to the economy month of july, with Unemployment Rate ticking down, to 10 1 2 we bring numbers as soon as they hilt the tape and check for any impact on markets. President trump is taking aim at possibly chinese apps two executive orders banning u. S. Transactions with tiktok and wechat, in just 45 days tiktok says it was shocked by President Trumps move climbs never shared user dalt with Chinese Government the white house is also looking to crack down on u. S. Listed Chinese Companies, the trade on nyse nasdaq coming up stuff showdown no deal major risks remain unclear if any talks happen today stimulus deadlock jobs numbers to come out futures under pressure take a look where we stand, an hour and a half before opening bell dow industrials down 137 points, nasdaq down 47, s p lower by 14. This after a pretty good rally yesterday in fact market near session highs nasdaq scoring, 4th record close in a row the dow industrials up 185 points, 4 00 on wall street. Mornings with maria is live right now. Maria Global Markets mixed take a look at european indices where we are looking at a flat showing in uk ft 100 down one point cac quarante in paris down 13 points, germany dax up in fact germany showed signs of economic recovery, industrial output up 8. 9 in june that fueled by a rise in german exports in asia overnight markets mostly lower following President Trumps executive orders articulateing chinese apps, the chinese shanghai composite down one percent, joining the conversation this morning, Dagen Mcdowell, Jane Courtney great to see you ladies this morning. Is to. Dagen great to see you. Great to be here. Maria top stories that we are watching this morning, President Trump turning up heat on tiktok and tencent owned wechat signing executive order last night that bans chinese social media apps, in 45 days, president calling tiktok a threat to national security. The Company Owned by bytedance Chinese Company accused of gathering user data could be shared with chinas Government Communist Party tiktok responded moments ago, to this executive order it says that the company is shocked and will pursue legal action in response. Tiktok also said it has never shared data with the Chinese Government, or censured content at its it is request. More portland unrest to report violence overnight 70th straight day rioters setting fires owed the Police Precincts one point seen throwing paint, on an elderly woman who is using a walker as she confronting them owed of that Police Precinct. Now to deadlock in d. C. Democratic readers white house Officials Say associations stalled democrats are still pushing for the package of more than three trillion dollars President Trump tweeted yesterday he is planning on executive orders on several key stimulus issues, and that he will do so if lawmakers fail to reach a solution. The president spoke in ohio yesterday that the resiliency of the american economy. We will rise from the current adversity of this horrible invisible men more prosperous resilient than before done things we never knew we could do one key lesson that weve lashed in battle a against the chinese virus the xhern economy has ability to aadapt, we are engaged in most industrial mobilization by far since world war ii. Joining me right now ohio congressman member House Intelligence Committee ways and means brad win strop what was response in ohio to President Trump. I think a good response, very interesting day our governor was going to join the president , tested positive then went back to columbus tested negative for covid. So that is another issue, in issue and of itself i think the president was recessed positivity i think obviously, greet concern about what is going on with negotiations in congress. We see trillions apart nancy pelosi said she is not going to budge look where we are right now several democrats, i could list five or six names come out said her heroes act, doesnt address the realism of gave is would go on it wasnt realistic goes far beyond covid pandemic has a lot of dollars for people that are not hurting we have a ways to go, but our things that i definitely support that we have, schools, and getting them to reopen. And then also childcare i have a bill that would and an for example to allow people to extend them beyond deadline to be able to pay for childcare, people cant go back to work if schools are not open, and if we dont have childcare, and one of the key issues as you know liability protection. Maria so is that is that what democrats are pushing up against . I want to talk to you about durham, let me say we are going to get the jobs numbers, for the month of july, in about 25 minutes, and nancy lazar from Cornerstone Macro has been on this program a lot expecting no job growth estimates call for 1. 48 million jobs, added to the economy, lazar says no, no, no, we are not going to get any growth in jobs because weve hit a bit of a wall expecting growth in second half of the year, by the way, but things have turned more negative isa the bottom line we are seeing a break in what started as a recovery. Do democrats do both sides of the aisle not see the urgency here . What is holding this up . Oh, i think we see the ourgs for sure but, again, we are trillion of dollars apart she doesnt want to budge down the want to put American People first want to put some members of her party first not all of them i would say, that to your point about the job numbers, it is going to be difficult for a lot of people to return to work, if they dont have a place for their children, to be taken care of safely. In childcare or at their schools. And so we do want to support what is going on in our schools, so they can open safely and with common sense. All right. Weve got a important hearing upcoming week about general Michael Flynn, d. C. District court judge sullivan will be questioned tuesday by peers on impartiality after pushing against Justice Department recommendation charges against Michael Flynn be dropped congressman what is your take here your reaction, that this is still going on, around Michael Flynn, and also, where is john durhams investigation . When are we going to see results of this investigation . Given now were 90 days away from the election . Well, i you know there is so much evidenced that you know that we have known on the Intelligence Committee for sometime. And more has come out obviously, there is a lot of exculpatory evidence for general flynn sooner rather than later i know he wants to do it right proceed with emphasis on reality, and have all his facts in line but at the same time this has been a pingpong match for general flynn without a doubt, you know, it was said that he by fbi he wasnt lying to begin withs strzok decided to take it a different way he found ally i believe, in judge sullivan. And what we have today, is now questioning judge sullivans impartiality i think that is appropriate unfortunate it has come this far. All right do you think we are going to get developments in the durham investigation by the end of the summer which is was ag barr told us . He believes i believe so fair to American People some dont want it to effectuate election well should it effectuate the election tells bu the people running for office, like joe biden, and and the obama administration, and all thoses susan rice candidate you need to look at thing she took part in in administration nefarious major, are and i think the American People he will deserve to know all of that before the election. All right. We will see congressman always a a pleasure to talk with you thank you, sir. You, too, thank you, maria have a good day. Congressman brad, joining us 20 minutes away from july jobs report going to break doufrng you he needed to know where we are in jobs, where are the opportunities today, markets down 152 points on dow going into it back in a moment. Maria welcome back, escalating tensions with china President Trump issuing executive orders on chinese apps tiktok and wechat last night orders ban of thes transactions with Parent Company byte dancing and ten clent go into effect 45 days, tiktok this morning, responded saying that it is quote unquote shocked, and that the order came down without due process, the company also said it has never shared data with Chinese Communist government or schoored content at ccp request joining me author of coming collapse of china great u. S. China tech war gordon chaifrng thank you so much for being here. Thank you, your take on tiktok response, because the ceo comes out, they say we are shocked that the president s move we have never shared any data with Chinese Government and we are not intending to you say . That does not appear to be factual we know tiktok has been surveilling u. S. Users apple not just u. S. Federal government this is apple caught tiktok twice once in april other time late june comufg comufg clip bored function caught Download Software on devices misusing data on minors, in addition, perhaps worst of ail is that there are allegations are still unconfirmed but allegations that appear credible that tiktok has been trying to manipulate political opinion in u. S. By the way it curates videos in bordered solutions i have gave the a list in front of me of all the cases charges and it is long list, from the doj appointments of professors academia people, all charging the theme we are talking about stealing data using data surveilling american citizens there are a lot of claws from china in american is about how are we getting it out how are we dual going to have a Comfort Level ccp is not swooilg people is not entangled in companies when they spent so much money acquiring Silicon Valley, acquiring, you know stakes in companies to force transfer of technology, so they could efl steal only practical way cut ties with china as you point out china malicious activities per vasive across the board extremely effective we ne china has been stealing hundreds of billions of dollars u. S. Intellectual property each year through hacks of Institution Government and private that it is going after the data of u. S. Citizens, the only way that we can stop this, is to reduce our ties with china, i know that many people will find that to be unfortunate, of course, it is, but, unfortunately, china is driving this only way to stop it to end our relations with china. Some people feel ccp was able to institute its own at the head of achieve Investment Officer your take what took place this week didnt get a lot of coverage in the the wall street journal that California Public employees retirement system otherwise known as calpers, chief Investment Officer stepped down, this week, he was in the roll for about a year and a half, and this is ben meng resigning case apparently failed to ader who to conflict of interest rules what do you say about cio largest u. S. Pension fund being run by ben weng. There were extreme concerns about his appointment before he took the job, and as weve seen not only conflict of interest his performance underperformed s p 500 a wide margin clearly something had to be done calpers should be applauded for taking this step on the other hand cal should be condemned for hiring him in the first place everyone knew this was going to happen. Was there evidence that he was investing calpers in Chinese Companies . What was he doing in terms of his role being at the top of calpers . How was he using or exploiting that position in your view . Well, as you point out he actually was investing substantial money into Chinese Companies far more than you would expect in these circumstances, for someone in this position. And also, because of his prior history, this was thought was going to happen. Maria all right. We will leave dlit there ben meng resigning a year and a half into tenure at the top of calpers largest u. S. Pension fund many people didnt realize the cio was investing so much in Chinese Companies, gordon good to see you this morning. Thanks so much gordon chang joining us few minutes away from july jobs report we break down everything you he needed to know about jobs today where are we fwh this roir recovery . Stay with us. vo since our beginning, our business has been people. And their financial wellbeing. Its evident in good times, with decisions focused on the longterm. And crucial when circumstances become difficult. That continued emphasis on people our advisors, associates, clients and communities gives us purpose, strength and a way forward. Today. And always. Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Maria welcome back, july jobs report due out in just about seven minutes economists expecting 1. 6 million joebz added jobs added to economy Unemployment Rate down. Sr. , writer Jon Hilsenrath, former the wall street journal he had for aisle board member trumponomics Stephen Moore, u. S. Bank Wealth Management chief Investment OfficerEric Friedman thank you one of and all great to see you we are rockin and rollin ahead of jobs nobbs Jon Hilsenrath kickoff with you, please. Significant Downside Risk to the july payrolls nancy lasar wrote from Cornerstone Macro two weeks ago why do you believe there is a dealing there has been a break in this recovery that we are going to see Downside Risk to numbers this morning. Well, i mean directly related to the coronavirus, are we saw outbreaks in big, important states like texas, florida, arizona, and the month of july, and that could stall recovery the way i look at it we lost 22 billion jobs in march and april we got about a third of them back, in in may and june. And what i am looking for is when we stay at some decent pace of coming back we need about two million jobs are a month, just to get to climb out of this hole in 10 months, so, you know, weve goatee to be seeing numbers one to two million to keep this going on. All right these are important issues, and those are big numbersless slip in a short break get panel take on what were going to see and being july jobs reportedly right after this break. Maria welcome back. Good friday morning we are awaiting breaking news on jobs in america in morning july jobs report, is due out in a minute and a half, are economists expecting 1. 6 million jobs, added to the economy month of july, the Unemployment Rate ticking down, to 10 1 2 we have numbers as soon as they hit the tape, ahead of the numbers futures right now pointing to a lower opening this morning down 100 points, on Dow Jones Industrial average nasdaq down 36 s p lower by 12 points, Dagen Mcdowell final thoughts before numbers let me just say that in the month of june we had 4. 8 million jobs added to economy, now the estimates only 1. 6 million. Dagen i can say economists dont know what to expect in less than 45 seconds the range is a loss of 280,000 jobs up to a creation of four million, that is all over the map here we really that is why this is is such a wild card today. Maria yeah, that is true, steve moore we will see what happens in washington in terms of the stimulus package but, clearly, we have seen a break in the month of july from this recovery that started. Yeah there is no doubt about that, maria, would i be very she canned if we saw a million and half jobs given the fact that as john was talking about we have seen several major states shut down parts of their activity, this is a really important number that were going to get in one minute, the reason it so i gos important is going to have a big impact, on the negotiations on these stimulus plans. Maria the market completely coming back dow industrials well off the lows, now down just 24 points nasdaq down 11 s p down 3 points as we await numbers, markets have been Cheryl Casone has number right now. Cheryl we do we do, we actually have a beat, there goes dow right there we have a beat for the number jobs added the estimate 1. 6 million we came in 1. 763 million. Now Unemployment Rate expectation we are are dropping 10 1 2 at 10. 2 both numbers are better than expected i want to add here right now also, i want to go through pieces key of data here manufacturing, that was pretty weak expecting gain 253,000 manufacturing jobs actual gain 26,000, private payrolls came in line kind of goes in line with adp report wednesday, we were expecting 1. 47 million jobs added in private sector, we got 1. 46 million, earnings monthtomonth looking for a loss of half a percent got a gain on average hourly earnings. 2 yearoveryear number this is big i know a lot of folks watching out for this one yearoveryear number looking for gain 4. 1, on earnings yearoveryear got 4. 8 percent that is a bigger than expected gain workweek hours pretty much in line, government payrolls gain 301,000 Labor Force Participation 61. 4 Labor Force Participation where we are at with jobs added we added together that was seven million now up to 8. 76 million jobs added three months, to dagens point a big one estimates all over the place we thought we could have gotten he the bottom end end could have gained four million but, again, numbers he better than expected playing out despite losses in texas florida california these playing out a National Scale there goes the markets right there maria, back to you. Maria yeah, that is why we are seeing this market come all the way back from lows, Eric Friedman what do you think about numbers give your assessment of 1. 76 million jobs added to the economy in the month of july. Better the key things distribution if you look at cities, that did well, and cities that really needed to do well, the key thing we are focused on is new york, l. A. , chicago, whether a do they look like then also breadth of improvement cross sectors led by Health Care Government as well as by other parts of technology, we have to see a broadening out next month coulding going to be key back to School Period seeing who had to say home versus who could go back to work next month critical for this market to get higher. Dominick this is propelling positive dow industrials up 20 points what do you make of reaction . Honestly i think markets a surprise, if you look at where we started out we are going to be negative for the kamaybe big negative he this number if it disappointed market general winley surprised adp was a big miss adp expected increase 1. 2 million jobs really got 167,000 new jobs, big revision for month before though so i think this is a pleasant surprise the august critical i think conceivable california texas, florida layoffs show up in august numbers instead of july numbers so far so good. Okay, Johnnie Courtney any sense where hiring was in month of july . Where the jobs opportunities are right now joanie . I got it, looking at some numbers here, and you know the temporary help sector came back added 143,000 jobs, i know in the business, that i run seeing a very Strong Demand in mortgage no surprise based on low Interest Rates that we see but those position of low he loan processors closeters in high demand, manufacturing and logistics jobs are coming back, a little spruced we didnt see stronger number in the manufacturing sector, but, again, i think as we saw in mid june, with covid starting to surge again, manufacturing really has to come can he will to a halt so the jobs growth is still very strong o professional and Business Service sectors where people can also work from home. That is is really helping companies with keeping their employees productive, and allowing them to work from home. Again great growth in health care sector. You know that got the ive got the breakdown maria, by industry. Leisure hospitality added 592,000 jobs, one third of the total gain in nonfarm payrolls employment improved services more than half a bl 502000 heels of a gain 2. 9 million in may and june, despite gains over the last three mince, employment and Food Services drinking places still down by 2. 6 million, since february. That is one of the weak spots there one of the concerns that these restaurants bars are going to be put out of business permanently frael trade 258 retail trade. Government 01,000 jobs there was broadbased job addition health care 126,000 jobs, manufacturing was somewhat weak spot just 26,000 jobs added in july the expectation was for about 10 times that. And i guess. Go ahead joanie. Im sorry maria just saying construction was also pretty weak. That is a surprise to me. In terms of being weak let yeah, steve moore let me ask you about importance here of stimulus package obviously, you have been an adviser to the president tax legislation pushing payroll tax cut democrats will not agree with it right now. So,s it looks like donald trump is very, very close to signing an executive order to implement this payroll tax without congress which is something as you know i have been a strong advocate of. He has legal authoritied to do it so look, this report sets up very well for donald trump and negotiations, with pelosi he can move forward with the payroll tax cut helps every working american gives 7 1 2 percent pay raise nice stimulus for the economy, i mentioned, in that the i believe you said 300,000 additional government jobs, if that number is true, donald trump we dont have to give hundreds of billions of dollars to states, these the government sector of the economy is the one that is actually growing the fastest this idea giving more and more money to government sector i think is crazy especially given this very strong number for increased government growth, by the way, federal government one sector of the economy keeps growing and growing, so i do think that trump is going to say to pelosi wait a minute here we dont need this massive stimulus bill economy is coming back pretty well on its own. Dagen steve headline from reuters u. S. Job growth slows sharply in july rather than still being about job creation, it is about job growth slowing. But i tell you you are going to lose a million or more jobs just by letting this extra 600 dollars per week expire i heard from so many people in in let me just finish the thought, and when i finish my sentence you can get the in here i heard from so many people, i am out of work, because of a coronavirus pandemic shutdown. Will now i now i am collecting 00 dollars a 300 dollars a week Unemployment Benefits less in some states i am out of work because of no fault of my own battling a virus you are basically going to i can today away my ability to pay bills and rent. Dagen we estimate lost two million jobs as a result of high Unemployment Benefits you just go out and talk to Small Businesses around the country, the biggest problem economy right now is businesses cannot get workers back on job many workers are making twice as much money being unemployed as going back to the job this is a job killer, if you have 600 dollars week helping that is claiz unfair to the millions and millions of people working in country day paid less than people on unemployment dagen how can you justify that. Dagen unfair for people cant go to work case of a coronavirus pandemic you took away ability to pay bills in many parts of this crunountry. Do you have to make more than making on job that is the issue not nell there should not be any money but more than working, when you are at home because i did speak with a number of congressmen senators told me they were getting case will from Small Business saying you are killing me my employees do not want to come back why would they making more money at home than they are on the job i tell you in terms of money to people but to give them more money, to stay home does impact economy opening again. Dagen i have heard that from Small Business owners i have heard that from dentists in new york city cant get employees back wife heard from people worked through this shutdown, that they feel, shunned and angry they were making less putting their health on line going to work, than people on unemployment. That being said, the republicans had months to put together a plan because they knew this was expiring the end of july, and if they wanted to do a stairstep like going from 600 to 400 to 200 then let it expire they put nothing out there they let the democrats basically run roughshod over them. Can i jump in what mnuchin put out there was the idea that the states already already do 50 of lost wages that is what the states do. Steven mnuchin said well since the states are giving 50 of lost wages already let federal government kick in 20 , take that up to 70 a persons lost wages, and so it is going to be different where you are, and what you are making, but they averaged out 200 dollars from the federal government, that is how they got to this point. Because the states already replenished 50 lost wages when you are out of a job. I know that Edward Lawrence has more on report this morning in terms of the job creation and where this is going lets get to edward in d. C. Right now edward. Ive got realizations too, may revised up 26,000 jobs, june was revised down 9,000 jobs a total revision up 17,000 jobs here also when you look at u6, gone down from was it 1 to 16. 5 , gone down when you look at trends here, you are talking about construction, yes, the only created 20,000 jobs, in the month of july but the three month total, is 639,000 jobs, for construction, Leisure Hospitality created 2. 1 million jobs in june, in july 529,000 you are talking two month total of 2. 69 million a trend of a couple months, where there is a lot of job creation, and then the revisions up total 17,000 maria. Maria all right we want to keep looking at this because, any indication of what this stays in terms of the rest of the year, any indication here of what we might expect from jobs market going into yearend, eric . Maria i think the key thing is just in terms of those sectors that may participate may start to see as dagen pounds out with respect to this to Hospitality Leisure that is going to be critical i cant emphasize enough next two months are significant. We have a cat lives back to school story keeps change for families for businesses Material Impact on who will be adding jobs more kids stay home, maybe right thing compensating depending on geography opposite effect in terms of the economy we are bullish again we have to keep in mind there isnt back coming the reason we continue to be constructive on path forward is because, that vaccine cant come soon enough when it comes there will be a lot of penth pentup demand for a lot of hiring loaves us with a glass half full. Jon hilsenrath. I want to go ahead. One he what about debate about stimulus maybe other one kind of where we stand on debate about stimulus, there is a lot of discussion about federal Unemployment Benefits and that is important a challenging issue to deal with but Stephen Moore hit on another issue really important plays, to state and local governments, so, you know, 23 you look at what is going on at government level yes overall employment might have been up for the month, but where you expect federal employment up from a year ago federal government can borrow all it wants if you look at local government hiring local government payrolls down 8789 879,000 from a year ago local governments slammed sales taxes hit unemployment numbers going up i think a real headwind to expansion in every state red state and blue state second half of the year isgoing to be headwinds stately and local governments, who have to balance their budgets unlike the federal government. So, so that is an important part of debate stimulus that isnt getting discussed. In terms of of where we stand in this recovery, you know, lets kind of go to a birdseye view 1. 7 million a really good number we should be encouraged by that that rate, we can climb out of this hole within 8 months we can keep that 1. 7 million increase a month going we can we out in 8 months that is great news now a big question whether we can do it. But like we were all deep in numbers right now, looking at things i think we should say there is Good Progress still being made, and the final thing is because of what we saw in florida and arizona, you cant separate out the adviserus from the economy. The enhancement when this virus hits it affects the economy it might be the case that we did better last month because places like new york and new jersey were getting back on their feet. So you know, i think we should not see this as a pure tradeoff between virus and getting the economy back on feet. Maria dagen, if mayor de blasio does not get more monday from the government, he has promised to raise taxes on the wealth he may do it anyway. But he said he is not going to bend over backwards like andrew cuomo has to new yorkers who have fled city he is looking for a tax on wealthy new yorkers to close to help close the massive budget gap so that is his answer to all of this dagen. Dagen my question to the mayor, and to the mayors some of these very liberal cities that are seeing not just unrest but people fleeing, are what wealthy . A lot of people left new york city left urban centers. So to jons point you could see that downward spiral, that causes a city to collapse in on themselves where you start hiking income taxes rates on people still there, and you create even integrator burden on them, and you force a Greater Movement out of very urban areas. To jons point if you look at total number of jobs created in may june and july this includes the revisions, it is 9. 23 million jobs. You look at the 22. 2 million that were lost between february and april, this nation has made back he nearly 42 of the jobs. Lost between february and april, because of those shutdowns. We have a long way to go but we are heading in the right direction, this is a lower number but it certainly shows that were on our way back. Maria . Maria can i jump in. Maria recovery right go ahead, go ahead. This is jon, one of the things i want to emphasize here grass half full this is not a demand problem we look at recession, high unemployment people really dont have money to go out and spend it cant vacation, they cant buy new refrigerator a demand problem. This is not a demand problem if you could open up restaurants if you can open up bars, disney, open up parks people would come maybe not level prejanuary 1st last year but people would go out it would with shop, would spend money the quicker we come to the solution, of a virus us problem not a demand problem quicker the economy gets back to normal. So, yes, going to be a bumpy road to yearend not a flat curve here we are going to have good days, bad days but the the demand is there people will come back, they will spend money, i think the jobs will come back, is to, definitely in glass half full. Last point. Where job creation was, go ahead jon. Well, just on this point about fighting the virus, so we saw in march and april, that these shutdowns aggressive shutdowns business stayathome orders was very damaging to the economy, a low cost way of in terms of the economy to fight the virus, that is why wearing masks, if you can go about your business, and wear a mask, and without damaging the economy and fight the virus i think one of the lessons from last four months that people who have concerns about how they look in public wearing a mask need to get over those snowflake concerns, because that helps foot the virus and doesnt hurt the economy there is all kinds of tradeoffs you can think about. Dagen i look better with a mask on Jon Hilsenrath number one i think your message could be applied to people worried about voting, in november. I said the other day, if you have been able to go to Grocery Store once a day wear a mask able to go to lowes home depot wherever of you been going even during shutdown if you are in good enough health to do that you can put a mask on keep your distance, and vote the way we normally do i think more of a message people need to be sending. Maria, could i have something about recovery. I agree with that. Please. Please. Maria yeah, so look we have been talking a a little bit about. Maria go ahead. About recovery back in a strong way, critical part of this somebody mentioned earlier absolutely critical for recovery, weve got to get schools opened up it is not just a social Academic Development of kids but maria you are not goes to be able to get people back to jobs if schools are closed up so this is a really critical issue. And youve got a lot of states i of my in Montgomery County maryland not only do they want to shut down Public Schools they want to shut down private schools absolutelyly asinine crazy there are ways to do it one whole year of kids not having school . That is a very, very scary proposition for the future of this country. Maria and and there is a cost to that, because they will when they go to get a job be at disadvantage in terms of wages, when they actually do get a job, because of the lost schooling. That is right. Maria, Unemployment Labor report Participation Rate 61. 4 what would you say this tells us he joanie go ahead. Yeah, you know i think, concerning that were not seeing more people try to get back into the workforce it does bring back to the stimulus point, we really do need to get that right and get some kind of deal done on i dont mean continue 600 dollar benefit, because that really is becoming an issue. I can tell you we have thousands, thousands and thousands of jobs, open, and we are having difficulty recruiting people and getting them to come to work, but there is that wage range where they are making more money on unemployment than theyre if they went back to work. So that really is an issue. It also could be part of the reason we didnt see hi growth in higher growth in construction in manufacturing i see it happening, in our business. We are actually having a National Hiring Day on august 25th because we cant get thousands of jobs filled. So my point is, these numbers bs could even be better if we could get the stimulus correct. I do agree though with steve moores point a big issue is going to be getting schools back open because, some people really cant get back to work, if they have Young Children at home, and that is a big challenge that our country is facing right now. I know. Eric, let me ask you about growth in 2021. Tell us how you see this playing out in terms of an economy that is recovering or trying to recover from this shutdown, when do you actually see things normalizing once again erratic . Maria, probable in literally not second half second half of next year that is contingent on either real progress, on virus antiviral a im sorry antivirus steps that are taken prevaccine or preantibody solutions or prevaccine a couple things to keep in mind number one this back to schooltime period, is critical, and seeing how students get back if they are practicing the right social distancing other techs to stay healthy that is critical that will allow more gradual recovery. I do think that if you look at the progress were seeing in areas like Leisure Hospitality is constructive doing on a gradual basis is right step but in terms of things like Business Travel in terms of Things Company capex anticipating consumers going back in applying durable goods longer lasting goods that isnt happening until second half next year that being said doesnt mean cant discount more sooner expecting markets to begin weve had a real narrow leadership market environment thus far we expected to broaden out starting to build positions in areas like smallcap stocks more broad we think makes sense but do not Sell Health Care do not sell financials, technology, those are spots we think are still mainstays in prime portfolios. All right do you agree with that do you want to be blooer of those . I indefinitely want to be buying a big fan of health care since january we still maintain a significant position there, and has done fantastic i think a thousand this year, a good price and, look, the the markets starting to roll over meaning we are starting to see other sectors perform better, value sectors performing a little bit better so i think there are opportunities here through the end of the year. Dont, dont panic dont sell. Be patient. Youve been rewarded so far i think you get rewardeded the rest of the year there will be dips in here use those as opportunities to add to your equity position dont be a seller. Maria so what if we dont get a stimulus package this week webbing Jon Hilsenrath what are the implications here . Obviously to two sides cannot get together we thought we would see something before they left to recess, tonight. Well, yeah, i will come back to what i said earlier i do think that there is a hard debate about Unemployment Benefits and how to calibrate an issue about paying people not to work i am coming back to state and local financial situation. Local governments are in a position not where they just have to raise inactions the six months but cutting jobs future jobs police jobs and if government doesnt if federal government doesnt look at that, then just dont be surprised if that is a big headwind on this economy in the second half of the year. Dagen jon it is dagen. Maria dont forget headwind of crime headwind of kraim dagen these rioting destruction of property, only extending this slowdown contraction. Maria like on that point, if we if we want to make sure that the police are not downtowned maybe federal government should be having discussions about Funding Police departments likely local governments are under so much strain. Dagen on that note. Maria i agree with you. Dagen 10 billion dollars set for states and localities. And also, tribes. There hasnt been even close to a billion dollars spent. I think in recent weeks it was only 100 million of that 10 billion had been spent, so the issue is, is to loosen up the rules and restrictions on how the states and localities are spending that money. Thats one issue. And then the other thing is, people, even because that 600 extra per week from the federal level expired, its going to take weeks even if congress can get something done to reinstate some, if not all, of that so you will see a dramatic slowdown in spendi spending, aggregate spending, if you let the payments lapse, they will fall 4. 3 in one month according to researchers at the university of chicago. Look, i got to say this. There is going to be so much opposition, justifiably so in red states, that acted fiscally responsible that now they have to pay taxes to bail out new york and california and illinois and states that have acted so incredibly fiscally irresponsibly . New york spends twice as much per person on government as florida does. Why should people in florida have to bail out new york. Theres this mythology out there the federal government can give money to the states. The only way the federal government can give money to the states is to take the money from the states in the first place. So its just a massive redistribution maria the fact is, let me just finish, the fact is that new york and these large blue states, new york is a net giver to the federal but dagen every single year new yorkers pay more in taxes to the federal government than we take. For a lot of red states that is not true. They are net takers, not givers. Thats a fact. If i can add on that, this mythology the red places are more fiscally responsible than blue, places like seattle have triple a credit ratings. You know, im a little skeptical of this idea that its just the red states that are more fiscally responsible. Moreover, this is a National Recession and national virus, and we are seeing right now florida, texas, they are getting slammed by this virus, getting slammed by the recession. They are not maria we all are. You are absolutely right. We are all getting slammed by this and weaver gve got some news this morning. Thank you all for joining us. I told you, we were all hands on deck. Right to Varney Company we go. David asman in for stuart this morning. Have a great weekend. David thank you very much. We will stick on the good news, i appreciate it. Good morning. Im david asman in for Stuart Varney this morning. Of course we are leading with the jobs number and it was a beat, ladies and gentlemen. 1. 76 million jobs added in july. We were expecting 1. 6 million so it was a beat. The Unemployment Rate has come down to 10. 2 . It was expected at 10. 5 . That was a beat as well. So there is good job news. We have mr. Larryw