Transcripts For FBC Mornings With Maria Bartiromo 20240712

Wisconsin protests. World Central Bank Leaders coming together virtually, Federal Reserve chair jay powell speaking at key economic conference and investors closely watching what he has to say. Ahead of the speech, few hours are lower. We are taking a look at decline at start of trading. S p and nasdaq hit record highs again yesterday. This morning dow futures down 88 points. Mornings with maria live right now. Global markets this morning are red across the board. Take a look at european indices, the cac quarante down 31 and the dax index lower by 52. In asia overnight markets mostly lower, worst performer was korea down more than 1 . Top stories that we are watching this morning. Night 3 of the Republican National convention honoring americas bravest, devoting their lives defending our freedom. Since 9 11 ive seen americas heros up close. Some of them saved my life. Service, its more a word to me, its a way of life. Maria meanwhile mike pence touting President Trumps economic success saying only he can help the nation rebound from the coronavirus. We achieved the lowest Unemployment Rate for women in 65 years. [applause] in our first 3 years we built the greatest economy in the world. We made America Great again. [cheers and applause] maria President Trump officially accepting the nomination for president tonight in the white house. Days of Unrest Following Police shooting of jacob blake. Police saying blake admitted to having a knife which was found in his car. The officer who shot the 29yearold as 7year veteran of the force. Kyle charged with homicide for allegedly killing and shooting two people during protest night in kenosha. Milwaukee bucks boycotting playoff game forcing nba to postpone two games. Major League Baseball calling after 3 games as well. Center for Disease Control and prevention changing guidelines who needs coronavirus testing. Agency reversing guidance recommending test for anyone who has been in contact with person. This change in policy will kill. Tiktok ceo kevin mayor pushes town as President Trump pushes to sell off operations, mayor said the political environment has changed in weeks. Tiktok would be banned on september 15th unless bite dance, tiktoks chinese owner sells u. S. Business both microsoft and oracle in talks to acquire u. S. Business of tiktok. Tiktok is also suing the Trump Administration over the executive order saying it was deprived due process. Meanwhile lifethreatening storm surge, hurricane laura slamming into louisiana as category 4 storm is now downgraded to category 3 battling the gulf coast with catastrophic winds and extreme flash flooding. Jeff flock tracking the storm this morning, jeff. Jeff maria, good morning to you, i tell you we are a cat 3 at the moment and perhaps you can tell the storm is still packing a lot of punch. We are in the backside of it in lake charles, cameron, louisiana where we stand here in lake charles and as you can see tell we got the eye, perhaps you cant tell but we have the eye, i can tell you and now we are getting the backside of the storm. A cat 3 storm as you know is still a very formidable storm bringing kind of conditions in shreveport. We havent been able to get out to see the kind of damage, but i dont know hes able to get over, some of the damage to the hotel next to us, i suspect when we are done here we are going to see catastrophic damage. I mean, sometimes youre in a storm and sense that, jeez, its not as bad as we thought, this one is as bad as we thought. We will continue to watch from louisiana and texas. Maria all right, jeff, stay safe out there. Thank you so much for the report. Jeff flock as you can see battling elements out there. Future pointing to lower opening this morning. Take a look at stocks, investors closely awaiting jay powells speech today, happening at virtual conference, jackson conference, annual meeting that happens every summer. The Federal Reserve worried it has fallen below the 2 target for too long. Joining me right now is Hodges Capital Management craig hodges and Dagen Mcdowell, former republican president ial candidate steve forbes, great to see you guys this morning. Craig, let me kick it off with you, your expectations for the fed today, do you think its a marketmover . You know, maria, i dont know that it is. Its pretty much known that the fed is going to be on the sideline and the commentary is something that they could dig into and we have a very strange environment where we have gdp, basically calling off the clip and personal income actually rising and that in a real world does not happen that often, so there should be some interesting comments but i do not believe its necessarily a marketmoving event. Maria steve forbes, what are you expecting this morning . Well, i think youre going to start to see hints that the fed is with idea that you if you jack up inflation, you jack up economy and thats going to 2 and thats going to have bad repercussions especially if the democrats win the november election, so im going to see if they are one, still believe theres tradeoff between unemployment and whether they are going to start dropping hints that they will shoot for above 2 inflation, say, we will make it up later with much lower inflation. They cant control it but they may try to goose money creation even as they have so far. Maria craig. I would agree with that. It is pretty remarkable, all the actions and all the liquidity that the fed is providing and at some point inflation is going to be the story. You know, it may be six months, it may be a year, a year and a half but theres no way that we dont get serious inflation down the road at some point. Maria we are waiting on new Economic Data later this morning, we are going to get from the labor department, we are expecting to hear 1 million more initial jobless claims. The gdp is out this morning expected to decline at annualized pace at 32 and pending home sales higher out today, expected to be up 3 . 116. 1, highest in 14 and a half years. Craig, you expect Home Building to continue to boom, right, with rates where they are, how do you allocate capital, what do you want to bet on . We believe that the housing theme is going to be the big, big story over the next couple of years. We think is a tremendous coupleyear event of people being deurbannized, being driven out of densely populated cities, with covid, the protesting, restrictive city governments, you know, these things and then all of this is happening at a time when you have historically low Interest Rates. I saw 30year at 3 and a quarter and millennials are the biggest demographic in the history of the world and they are now getting to the age where they are moving out of the basement, they are getting married, they are moving out of apartments and theres a tremendous shorting of shortage of housing out there. About 3month supply, so its not just Home Building, theres so many elements of Home Building. You look at the Building Materials like whirlpool or a Owens Corning and you have remodeling part and theres aspects of housing that would be tremendous theme over the next couple of years. People will not up and move. This is going to be a trend that people will be selling their houses and looking to go and you add in remote work which you see all over the place where Remote Working is becoming a thing. That will drive more people out of the bigdense areas cities and such. Maria and at a minimum during the shutdown theyre probably investing more in their homes because yes. Maria jump in here. Dagen when they were talking about the Federal Reserve i wanted to know that inflation is part of Federal Reserves mission including full employment and greg writes in the wall street journal today. Its become a political issue. Not only has the fed expected in recent history prevent financial crises and shrink trade deficit, you name it. One thing worth noting is that joe biden just last month called on amendments to the Federal Reserve act to require it to target persistent racial gaps in jobs, wages and wealth. Congressional democrats unveiled a bill that will eliminate Racial Disparities and employment wages wealth and affordable credit, why isnt more of an issue in the campaign trail, i dont know, because this seems like a great overreach to truly politicize the fed. Maria thats unbelievable. I did not know that, dagen, youre right to point that out. Craig, its great to have you this morning, thanks very much for being here. Its my pleasure, maria, thank you. Maria we will see you soon, craig hodges. Time for morning mover, today we are looking at abbott labs, emergency use authorization for 5dollar covid tests, the tests are about the size of the credit card, results in about 15 minutes, abbott to ship millions of tests next month. Stay with us. More mornings with maria right after this i need it so bad dont call it a hobby. Its way more than just a job. This is how we live every single day. Can we go and play . roaring of engines i needed to try needed to fall i needed your love im burning away i need never get old maria welcome back, well, night 3 of the Republican National convention in the books. Vice president mike pence officially accepting the nomination as Vice President for a second term. The vp also with key republican speakers touting the Trump Administrations record making case for reelection. In our first 3 years we built the greatest economy in the world. We made America Great again. You will not be safe in joe bidens america. We will stand with those who stand on the thin blue line and we are not going to defund the police, not now, not ever. [cheers and applause] what i learned about our president is different than what you might have heard. I learned that hes a good man and that he loves his family, he didnt need this job, but no one on earth worked harder for the American People. President trump and Vice President pence lifted americans and provided them with dignity and results. This is the man i know and the president we need for four more years. Be a radical for freedom, be a radical for liberty and be a radical for our republic, for which i stand. Maria President Trump will wrap up final night of rnc tonight officially accepting the gop nomination. Here is a look at some of the speakers coming up tonight. Joining me florida congressman Lieutenant Colonel and green beret, do you think the principles of the Republican Party are coming out, what resinated with you the most . It was great to celebrate american greatness, the theme land of heros. To hear my brothers and sisters in uniform celebrated and thats not just in military uniform, thats those out there in blue keeping our communities safe as well, whats truly fantastic is the other thing that was amazing to hear, maria, was just a list of accomplishments particularly which we did not hear with the democrats at all on the Foreign Policy side and i think theres a reason joe biden is not talking about it on the Foreign Policy side. I was down range overseas when we had the trade for burdd of course hl. Attacks around the world, russia on the march in crimea and ukraine and china on the march in South China Sea and the rise of china under the bidenobama regime which biden just this week was is repeatedly quoting the communist founder in ma of course still saying the rise of china is a good thing and not calling them out for the coverup and this is all as you have reported son hunter is in an equity deal with the Chinese Communist party. So look, so this was not only talk about real policy accomplishments an hearing about it from Everyday Americans but looking forward to whats going on in 4 years and despite all the obstacles the president has faced. So let me ask you more about u. S. China tensions because china launched missiles in the South China Sea yesterday in a warning to the United States this after the u. S. Sanctioned 24chinese companies in the region. Beijing not letting up on territorial dispute, even senator Marsha Blackburn slammed joe bidens record on china. Here is what Marsha Blackburn said. If the democratsed that their way they would keep you locked in your house until you become dependent on the government for everything. That sounds a lot like communist china to me. Maybe thats why joe biden is so soft on them. Why nancy pelosi says that china would prefer joe biden, yeah, i bet they would. Maria how concerned are you about about china and these missiles last night, congressman . We know that they have been overreaching on a number of territories. China right now is conducting exercises for the First Time Ever in the South China Sea, the East China Sea and yellow sea. The United States navy under the leadership of the president is challenging them for the first time in a decade and what the chinese arent happy about is we put some surveillance over what theyre doing, taiwan right now is incredibly nervous as they should be watching what just happened to hong kong and in response china launched 2 missiles that they call carrier killers, thats what chinese the Chinese Media is calling them. Missiles designed to take down aircraft carriers. At the end of the day we are we are in a posture where we have to challenge the Chinese Communist partien every front, equity markets, in sanctioning their leaders, sanctioning their businesses and militarily as well because if we do not stop them now and in chairman zis own words, they will call the shots and the United States will not and they will create economic dependencies around the world from Rare Earth Minerals to protective equipment to pharmaceuticals. Maria yeah, they are threatening us again. Yesterday the South China Morning Post comes out with an article and says china should weapon news export of medicine and drug precursors if the United States cuts the countrys access to computer, this is from the morning post. You doing okay . 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. You can adjust youriggest sacomfort on both sides. Eep your sleep number setting. Can it help me fall asleep faster . Yes, by gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. Will it help me keep up with mom . You got this. So you can really promise better sleep . Not promise. Prove. And now, all beds are on sale. Save 50 on the sleep number 360 limited Edition Smart bed. Only for a limited time. To learn more, go to sleepnumber. Com. Maria welcome back unexpected resignation overnight. Ceo of tiktok kevin meyer stepping down after 3 months in the role. He said the political environment has changed and facing pressure from the white house to sell u. S. Business due to National Security concerns. Both oracle and microsoft reportedly considering bids for tiktok. Dagen, what do you make of this . Dagen suggests that there wont be a role of the new owner for kevin meyer and therefore hes resigning and thats in essence what he said. I just want to note this, though, just hours before kevin meyer quit tiktok launched a store, online store selling merchandise including a 70dollar hoody with not going anywhere written anywhere in the back of it. On the front it says here to stay and on the back it says not going anywhere so maybe meyer gets that as consolation prize but irony and the horrible timing. Maria yeah. The issue here is about the employees so once question ive been asking, if we were to see an acquisition by microsoft or oracle how many employees by tiktok would get eaten by those companies because china has been strategic in terms of stealing from the inside, they identify people on the inside of companies and the inside of institutions, academia, health care to try to get those people to send data back to the ccp. So the question is, if we were to see a merger how many chinese nationals from tiktok are going to be acquired in an acquisition by microsoft and oracle. Thats something very important to watch. There have been people who were stopped at the airport with data in their pockets, a whole slew of indictments this year from Harvard Chemistry Department to Cleveland Clinic and beyond. So we will see what the doj comes up with and, in fact, a deal is going to happen. Steve forbes, do you think an acquisition happens . Steve its a popular asset that, yes, it will happen and there might be slight extension that looks like a deal that would be consummated and youre right around the personnel side, theres going to be a very, very thorough vetting and you will see a lot of personnel changes and all part of the thing, the chinese intelligence. You mentioned the universities, those confucius institutes will come under greater microscope on the way china is using them to keep an eye on chinese students. Maria we will take a break. We have the next jobs in america coming up. We are taking a look at which industries are doing the most hiring right now. Testing chipotle iq, the quiz that has burrito lovers buzzing. Stocks by the slice from fidelity. Get your slice today. Maria welcome back, good thursday morning, everybody, thank you very much for joining us. Thursday august 27th, lets take a look at markets, 6 31 a. M. On the east coast right now. Nasdaq futures down 25 and the s p down 8 points. We are looking at investors wait on Federal Reserve today, fed chair jay powells speech and latest reading on jobless claims along with gdp out to move markets. S p and nasdaq hit record highs yesterday. Momentum will not quit. Yesterday the nasdaq up almost 20 points. Almost 2 . Dow industrials up 83 points, nasdaq up 198 and s p up 35 points at 4 00 oclock on wall street. Global markets this morning red across the board. Take a look at european indices, cac quarante down 37 and dax lower by 56. In asia overnight, markets were mostly lower. Shanghai composite with a fractional gain, but the others down as you can see. Meanwhile this, sales force announcing layoffs this morning one day after reporting record sales, Cheryl Casone with the details. Cheryl thats right, maria, good morning, it is we reallocating resources. A thousand sales force employees are affected by these cuts, about 2 to have workforce. Employees have 60 days to find a new role in the company so for shares, jumped more than 26 yesterday, that was the best day ever for the stock, the stock, though, right now more than 3 quarter offense a percent in premarket. Well, chinese electric car startup increasing the size of u. S. Ipo amid strong investor demand, raising nearly 1. 5 billion. The Company Price nearly 100 million shares up to 15 each. Shares are due to start trading today. And finally, it isnt just the weather thats hot, the homebuying market is sizzling this summer despite the coronavirus pandemic. The number of applications to buy a home 33 higher this year than last year. Thats according to Mortgage Bankers association. The uptick coming as many want more space with families working and taking classes from home. Taking a look at builders right now, dr horton, 30year Mortgage Rates 3 right now. Maria for sure. Vice president mike pence highlighting night 3 of rnc last night while accepting gop nomination. Pence touting President Trumps firstterm successes. The defeat of isis was the result of america believing in our heros, the president having their backs and rebuilding military so we have to finish the mission, the cowering of Iranian Regime and deterrence once lost is the result of america believing in her own might again. In 4 years, donald trump didnt start any new wars, he brought troops home and rebuilt the military and signed peace deals that make americans safer. Its no wonder that the secretary of defense under the Obamabiden Administration once said that joe biden has been and i quote, wrong on every major Foreign Policy and National Security issue over the past 4 decades. Maria President Trump will headline the rnc final night tonight formally accepting the president ial nomination. Other speakers include Senate Majority leader Mitch Mcconnell, Rudy Giuliani will be there as well as gop leader Kevin Mccarthy and Jeff Van Drew. Joining me former nebraska senator, former navy seal, 911 commissioner bob kerry. Thank you very much for joining us. Sure. Maria your reaction to the rnc this week and particularly the focus on Foreign Policy . Well, i must confess, i havent watched it all. Id love obviously dan crenshaw, former seal, i was quite moved by what i saw he said. I like Kayleigh Mcenany. A number of things in the convention that have been moving and impressive. The key for me personally is we have to compare and contrast what President Trump wants to do in the next 4 years and what joe biden wants to do in the next 4 years and i prefer what joe biden wants to do. Maria tell me why . First of all, he has got moderate proposal dealing with Climate Change but at least we begin the process and with investments, investments in jobs, investments in buildings and things that will help the economy going again. The hole that we have in the economy is worst and we have to get it going again and both with public and private investments you simply cannot get from where we are to where we need to be without without doing that, so i like what hes proposing with climate. I do think the pandemic has exposed, maria, weaknesses in our system. We can strengthen the Affordable Care act. Thats what Kayleigh Mcenany was talking about, making certain that preexisting conditions are covered, we can do the same thing with child care, we can do the same thing with Higher Education without destroying capitalism and without destroying the free market. I mean, this pandemic has really exposed weaknesses in the programs that are designed to give americans an opportunity to move out of poverty and into the middle class. Maria yeah, especially the fact that 90 of active ingredients are made in china and exposing reliance on china which is why now they both are saying we need to get jobs back. This is one of President Trumps promises to fire up the Manufacturing Base and get jobs back to the United States. Do you worry, though, that the Democrat Party in general has been lurching to the left and hijacked in some areas by the extreme left. You didnt hear a word about all of the ongoing violence last week at the dnc at all and now just yesterday joe biden condemned the ongoing violence following the shooting of jacob blake in wisconsin and biden spoke with blakes family urging the unrest to end. Protest is right and absolute necessary but burning down communities is not protest, its needless violence, violence that endangers lives, violence that guts businesses and shutters businesses that serve the community. Thats wrong. Maria got it. Senator, what about that . Is his response too little too late . Look. We know that the extremists in the party want to defund the police. Well, theyre not joe biden doesnt support defunding the police. Look, the frontline people are the mayors and its a very difficult job. In my hometown of omaha, nebraska you have a lot of protests and the mayor has to allow the protests to occur but when they turn violent then you have to shut them down and and you watch even democratic and republican mayors have been dealing with this relatively well. You saw the mayor of seattle maria how can you say that . Look at portland, 90 days of straight violence and vandalism. You say when it gets violent, you have to shut it down. They didnt shut it down in portland. Its till going on. They are walking away from the police. The keyword to my declaratory sentence is relatively well. They havent all been well. I think the portland situation got way out of hand. It didnt get out of hand in omaha, they shut it down in seattle. They finally shut it down in minneapolis as well. It is not easy to allow protestors to protest without these things turning violent, so its a balance that these mayors are are having to deal with and youre quite right. I think portland is way too slow. Its not a its not an easy thing to do at the local level. Maria look at cities that dont have the issues that portland has, that they are trying to destroy federal property. Lets take new york. Bob, new york, its been boarded up, looks like a shelf of itself, crime is on the rise because of the bail reform law, because the mayor has walked away from the police, because andrew cuomo has decided to have no bail and criminals are back on the street an hour later, so, i mean, these are all results of policy decisions. I dont disagree with that actually. I do think that, again, Law Enforcement is exceptionally difficult. Youre always having to balance the desire to allow people to protest in a reasonable fashion against the need for the vast majority of people that want to go back to work and get on with their lives. I dont disagree with that assessment but you do have situations where i think theyve done it right. There was destruction of public buildings in omaha, nebraska and and eventually, you know, i think Law Enforcement has dealt with it in a very, very effective fashion. Its not easy to do. I mean, i dont think weve got violence breaking out all over the country. I think you have mayors trying to figure out how to deal with it but i dont disagree. I think, you know, you have to be careful when youre trying to provide justice through bail reform that you dont create an environment where its difficult for Law Enforcement to accomplish their objective. Maria yeah, senator, good to see you this morning, thank you so much. Youre welcome. Nice to see you. Maria bob kerrey, and to you. Hottest jobs in america, who is in the most demand during the pandemic, we have the list. Stay with us for that. Are you feeling old . This may not help home alone star hitting a milestone, how he broke the news to fans. Youre watching mornings with maria live on fox business. Coming this fall election season for the ages as President Trump squares off against former Vice President joe biden and we will have every angle covered with expert analyst and allstar cast, nominations to president ial debates, mornings with maria is on the scene until the very last votes are counted. Mornings with maria we are invested in you. Dont just think about where youre headed this summer. Think about how youll get there. And now that you can lease or buy a new lincoln remotely or in person. Discovering that feeling has never been more effortless. Its the final days of the lincoln summer invitation sales event. Right now, get zero percent apr on all 2020 lincoln vehicles. Who stood up. Who stood strong. Who demanded to be seen. To be heard. To be counted. Learning about her courage and grit. Can inspire you to pass it on. To the women who are next. Find your familys connection to this moment in history. At ancestry. Maria jobs in America Linkedin data show most indemand jobs, registered nurses and store associates leading the way. Here is the list of the jobs that are most in demand. Research also shows a huge demand for Technology Skills to fill remote openings for software engineers. Joining us right now linkedin news editor andrew, andrew, good to have you this morning. Thank you very much for joining us. We are having a special work at jobs in america and this is an ongoing series that mornings with maria does. We try to identify the best jobs out there, most indemand and highestpaying jobs, what can you tell us . We have seeing jobs in the industry which is good for many people that are Transferable Skills. These are industries that are keeping us safe during the pandemic, people who are delivering groceries, providing health care, they are doing, you know, keeping the Technology Going so that we could have this conversation and also helping people with their finances. We are also seeing a lot of growth in covidrelated jobs, those are people who are contact tracers, care coordinators and also resource managers. Maria do you see any of these jobs as long lasting even after covid19 . Im trying to understand where the sustainability is in terms of jobs . In terms of covid jobs i think it really depends on whether the course of the pandemic, for a lot of the other jobs we know theres a long life in many of them, if youre going into finance, tech, reskilling, there could be a really big future for you and in terms of the covid ones, if you can pivot eventually with your healthcare skills, that could also serve you well in the long run. That makes sense, dagen. Dagen what about the future in terms of jobs that were permanently destroyed during the downturn . Where did those workers go . I had to think of restaurant workers in new york city but really across the country. I think what im hearing from a lot of experts is that those people have Transferable Skills and we are seeing a lot of them are employing them and when we see people working in restaurants, have people skills and they are pivoting to sales where they put them to work and we knew before pan dem that i can the soft skills were in incredible demand. Maria steve forbes, jump in. Steve talking about restaurant workers, do you feel that once we get a vaccine that i hate to use the word normalcy, but that when people no longer fear getting together again that the industry will truly bounceback to almost where it was before and those jobs will come back . People like to go out and politicians are preventing it, but people do like to dine and it seems like an industry that would bounce back if the politicians let it or we get a vaccine that makes it feasible. I think it remains to be seen what will happen post pandemic since this is unprecedented event. We have seen hiring recover and numbers are being crunched out and will be out in early september, but the latest data that we have in june hiring was down 40 year over year in july it was down about 7 , so there has been dramatic recovery so i think theres a sense that people want to get back to normal eventually, so it is its likely that people will want to go back to restaurants and that will require people to serve them and a lot of those workers will find a home or new workers will come in to fill those gaps. Maria weve got a special segment coming up on restaurants and looking at the state of the city, stay with us on that. Andrew, great to have you, thank you. Great, thank thank you so mur having me. Maria we will see you on linkedin, andrew, andrew seaman from linkedin. We will be right back. Businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To new customers. 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 chipotle fans dont just like their fast food fast but quick when it comes to online contest too. Trivia quiz offers a buy one get one free prize for first 250,000 people who correctly answered ten questions. Its sold out in just hours. Dagen, how do you like that . Dagen you can still answer the questions which i did this morning. Its ten questions. All it does is chipotle is trying to polish its image asking you questions about how awesome chipotle is. You do find out that tomatoes are a fruit and that yellow and red bell peppers, they all come from green bell peppers, so that was the end result of that because ive got no prize. I only answered 7 out of the ten correct. [laughter] maria okay, i just learned something about those peppers. Next up the big 40, home alone actor 40th birthday. Fans suggesting he star in nursing home alone. The actor marking milestone with a tweet, hey, guys, want to feel old, im 40, you welcome. 10 years old when home alone hit theaters. Dagen best movie behind die hard. I dont need him to turn 40 to make me old. I try to get out of bed without falling or cracking my head open on the medicine cabinet, so happy birthday, you look great. Maria hey, i thought 50 was the new 30, come on, dagen. How about this in the worlds richest person is jeff bezos, how old is he in wealthier than he has ever been. Net worth now up by 4. 9 billion making this 56yearold the worlds first ever person to amass a 200 billiondollar fortune. Steve, youve written about it and edited time and time again in forbes magazine, what do you say . Steve well, first of all, mccolly 40, that doesnt bring me tears in my eyes. Aside from that on jeff bezos, jeff bezos wealth will rose up again, those who want to tax wealth, quite the value amazon with piles of cash, they go after amazon under the bike tech and start wrecking that company the 200 billion goes, its not piles of gold or cash and i wish they would realize wealth is the value of what these people create and demonstrated during the covid crisis and the Extraordinary Services that amazon provided, we couldnt survive without it but thats just aroses envy among the democrats. That came out on their convention and you will see it again during the campaign. Take it away from them. You made it, take it away. Maria which is why Elizabeth Warren wants a wealth tax, steve, thats what her policy that shes talked about quite a bit. Still ahead President Trump makes the stage tonight, yeah, to wrap up the rnc, eric trump will join me live to discuss his fathers campaigns for reelection. Coming up mornings with maria live on fox business. In san diego, california. Weve had a ton of obstacles in finding ways to be more sustainable for a big company. We were one of the first stations to pilot a fleet of zero emissions electric vehicles. The amazon vans have a decal that says, shipment zero. Were striving to deliver a package with zero emissions in to the air. I feel really proud of the impact that has on the environment. But were always striving to be better. I love being outdoors, running in nature. We have two daughters. I want to do everything i can to protect the environment to make sure they see the same beauty ive seen in nature. My goal is to lead projects that affect the world. I know that to be great requires hard work. Maria welcome back. Good thursday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is thursday, august 27th. Your top stories right now, 7 0e east coast. Rnc night number three, Vice President mike pence putting the spotlight on Law Enforcement, the military, warning you will not be safe in joe bidens america. Coming up this hour, congressman Jeff Van Drew is here, previewing her rnc speech tonight. At 8 30 a. M. Eastern, President Trumps son, eric trump is here, making the case for his fathers reelection. Laura makes landfall as a dangerous category 4 hurricane. It has lost a bit of steam but still packing quite the punch. Were taking you live this morning to the gulf. A teenager arrested, accused of deadly shootings during kenosha, wisconsin protests. And the ceo of tiktok, kevin mayor, will be stepping down. What it means for the company as the white house pushes for a sale. World Central Bank Leaders coming together today virtually. Jay powell will speak at a key economic conference. Investors are watching what he has to say about inflation. Futures are lower. We are looking at the lows of the morning. The dow futures down 80 points, nasdaq down 26, s p down 7 andahalf, this comes after the s p 500 and nasdaq hit another record high yesterday in the regular trading session. The nasdaq was up almost 200 points or 2 , s p up 35, both in unchartered territory. Mornings with maria is live right now. Global markets this morning are weaker, european indices red across the board. Fq100 down 8, dax index lower by 41. Asia overnight markets were lower there as well. Although China Shanghai composite bucked the trend with a fractional gain. Meanwhile, top women in the Trump Administration taking the stage during night three of the Republican National convention. Take a look. I want my daughter to grow up in president donald j trumps america. He picks the toughest fight and tackles the most complex problems. He has stood by me and he will stand up for you. President trump is the law and order president , from our borders to our of backyards. President trump will keep america safe. President trump will keep america prosperous. President trump will keep america america. Maria Vice President mike pence touting President Trumps economic successes, saying only he can help the nation rebound from the coronavirus. We achieved the lowest Unemployment Rate for women in 65 years. [ applause ] and more americans working than ever before. In our first three years, we built the greatest economy in the world. We made America Great again. [ applause ] maria President Trump officially accepting the republican nomination for president tonight. Hell do that from the white house. As you can see, a whole other list of speakers on deck for tonight. An extreme weather alert, hurricane laura making landfall overnight in louisiana as a category 4 storm. The system has since been downgraded to a category 2 but it is still pummeling the gulf coast. At lauras peak, winds were topping 150 miles an hour of. Those gusts knocking out power to nearly 400,000 people. Forecasters are predicting an unsurviveable storm surge for both port arthur, texas and lake charles, louisiana. Evacuations were ordered for those areas in lauras path. Shares of Abbott Laboratory are storing, the stock is up 7 andahalf percent, after the fda approved the companys rapid antigen test for covid19, the test costs 5, does not require any additional equipment. It can share results in 15 minutes. The centers for Disease Control and prevention changing the guidelines for who needs a covid19 test. The cdc people who show no symptoms do not need to be tested. The Agency Reversed the guidance. The cdc is estimating 40 of people who have the coronavirus are asymptomatic. The new guidance alarming some health experts. A teenager arrested in the deadly shooting of two people and injuring of a third person during the protests in kenosha. This as we learn more about the shooting of jacob blake. Grady tri trembell is in kenosha with the latest. Reporter you can see businesses are heavily boarded up this morning. That business burnt to the ground several days ago by rioters. Last night was the calmest weve seen here in several days. There was a curfew last night that was moved up an hour from previous nights and it was strictly enforced. Hundreds of Law Enforcement officers filled the streets including some from the federal government. Fbi agents, u. S. Marshals and more National Guard members were sent in. The Wisconsin Department of justice releasing more details in the shooting of jacob blake which started all of this unrest. They say he had a knife on the drivers side floorboard of the car that they found. The officer has also been identified, the one who fired the shots, his name, rustin sheski. That investigation continues. Everybody in this room, everybody listening and the citizens that are affected to allow for time for that process to play out. The decisions in that case will be made based upon evidence collected by an outside agency, presented to somebody else to make that decision. Reporter and as you said, 17yearold named kyle writenhouse has been arrested and will be charged with first degree murder in the shooting that happened here two nights ago. He appears to be shown on video holding a long gun, along with other. Hillarycivilians. Police wouldny were part of a vigilante Militia Group. Police in kenosha are facing more criticism for letting that 17yearold go after the shooting, of after he is seen on video with a long gun across his chest and his hands in the air. He was arrested, though, maria yesterday, a day after the shooting occurred. Maria all right, grady. We will keep watching any developments there. Joining the conversation all morning this morning, fox business Dagen Mcdowell and forbes media chairman and former republican president ial candidate, steve forbes. Lots to talk about this morning. Great to see you guys. Steve great to be here, thank you. Maria time for the word on wall street, joining us me right now, jan jan ny montgomery scotd mark tepper many thank you very much for being here. We are happy you are here. Futures are pointing down this morning. We are expecting a decline at the start of trading even after more records were hit yesterday. Were wait on the Federal Reserve meet, chairman jay powells speech today will be virtual at jackson hole at the annual summit of global central bankers, expected to announce new tools to grow inflation. Mark, what d are you expecting d will this impact markets . I think it will, maria. I think theres a tremendous amount of focus on what jay powell is likely to say today. Remember, this has been something that the Federal Reserve has been undertaking in terms of an evaluation in terms of what it might do to engineer an outcome that matches if not exceeds the 2 inflation target. What were expecting is some language, if not outright policy, that may come in the september meeting thats scheduled here in another month or so. But talks about an average inflation, in other words, we may allow inflation to run above the 2 target rate for some extended period of time to account for so many years of underinflation relative to that target and i think markets would interpret that to be doveish. Anything less than that could be deemed to be hawkish which markets would fret about. Maria are there areas you think will move on the fed chairs speech today . I think theres some risk that we continue to see some lowering of bond yields, expecting the flatter yield curve as a consequence of the fed holding down Interest Rates for longer, even in the face of heightened inflation prospects at some point down the road. And i think equities would continue to deem that to be very friendly. There was an article that made the rounds yesterday relative to the prospects of the fed Holding Interest rates at zero for five years or so. That may be an extended period of time. Nonetheless, its indicative of the accommodation that the fed is likely to not only hold to, but as well, pronounce today by way of jay powells comments. Maria all right. Well watch that next up, major exit at tiktok, Ceo Kevin Mayer leaving the company after three months, he told employees, quote, i understand the role i signed up for including running tiktok globally will look very different as a result of the u. S. Administrations actions to push for a selloff of the u. S. Business. Microsoft, oracle, twitter vying to take over tiktoks u. S. Operations. Mark tepper, how do you see it playing out. Tiktok is widely used in the u. S. , i can tell you personally my kids and all their friends are add indicted to this addicted to this app. Its certainly widely used in the u. S. Which makes a solution very important. Mthey could eitherget shut downe acquired. Lets start with them being shut down. If they are shut down for even two to four weeks, i believe youd see a mass exodus of users who would permanently change platforms. The winner in that scenario would be facebook. Instagram recently rolled out reels, a tiktoklike platform. Most of the kids with a tiktok account already have instagram accounts. That could be the path of least resistance. That could be great for facebook. Their main platform is a bit stale. Theyre failing to attract the younger users, who want something more fun and innovative. If tiktok bought microsoft has tried its hand at social media before but they havent been successful. Skype, linkedin, theyve pretty much been duds. That brings us to twitter where i like it a lot more. Theyre already in the social media game and tiktok could be the video answer to their tech heavy platform. I put my money on facebook or twitter. I think microsoft should spend money elsewhere. Theyre killing it in the cloud. Stay in your lane. Maria okay. And you make a lot of good points. Im going to be watching facebook as well as all of this plays out, given that its such a severe competitor. Bailing out the airlines, white house chief of staff mark meadows announced yesterday that the Trump Administration is looking at ways to stem the furloughs at Major Airlines including american, delta and united. American announcing it plans to furlough more than 17,000 employees. Delta will furlough nearly 2,000 pilots. Jack, whats your take on this . Will these airlines recover ever . I mean, how soon before we see these Airlines Come back in your view . Yeah, its going to be a struggle. One of the things we wrote about this week is what we call the kshaped recovery thats going on underneath the surface, begging the question, you know, should we be invested in equities if we see the economy struggling. Think about the airline industry. Youve got the air freight industry up roughly 40 to 50 since the lows and youve got the air travel industry down 40 to 50 . So were seeing this wedge created, not just within the stock market and economy, but also of course manhattan Apartment Properties versus new york, new jersey, Single Family homes within skilled versus unskilled labor. So this is something that does need to be reconciled but we do believe owning equities is still a good place equities is a good place to be. I think there are two things that could prompt us to change our opinion. One, certainly valuation. If valuations continue to rise, that could prompt us to reduce risk. We hold equities for a sevenyear Holding Period at a minimum. The second related to the fed story, if we did see some persistent inflation or anything that could cause Interest Rates to rise, that would likely pull the rug out from under risk taking. But based on what were going to hear today, it sounds like the fed still has risk takers backs. For now, i think equities are not a bad place to be. Maria im glad you said seven years. Im with you, longterm is the way to go when investing in equities. Mark, jack, good to see you. Thanks so much for the word on wall street. Well be right back. Theres no doubt how President Trump sees america, a nation that has done more good in this world than any other. A nation that deserves far more gratitude than grievance. And if you want a president who falls silent when our heritage is demeaned or insulted, hes not your man. The same way President Trump has supported me, he supports you. I see it every day. In four short years, donald trump has led even some washington democrats to agree on the chinese threat, on trade deals that benefit america first, on alliances that share responsibility. President trump has fought tirelessly to deliver results for all americans, despite the democrats baseless and illegal impeachment sham. This attack was not just on the president. It was an attack on you, your voice and your vote. Maria night three of the Republican National convention now in the books. President trump wraps up the rnc tonight when he officially will accept the gop nomination for president. Other speakers tonight include ivanka trump, Senate Majority leader Mitch Mcconnell and my next guest. Joining us right now is congressman Jeff Van Drew. Its always a pleasure to see you. Thank you so much for being here this morning. Its great to be with you, maria. Its always a pleasure to see you as well. Maria so congressman, youre going to make a speech tonight. Are you going to bring into it your own personal story . You had a very high profile departure. You were a member of the Democrat Party. You left the democrats and became a republican last year. And as i like to point out of, in history certainly there has been a handful of individuals that have done that. I am the first and only person that went from the Majority Party to the minority party. And the reason i bring that out is because the point was not that i wanted to gain more power or a chairmanship or was looking for something. It was that i really had enough and it was time for a change. Its what your vision of america is about. Thats what these conventions have been about. And why theres a stark contrast between the two conventions. Yes, i will speak about my story and speak about that vision of america. Maria yeah. The vision of america being played out right now, were hearing it all in these conventions and were also seeing it play out in this stimulus showdown, congressman. White house chief of staff mark meadows spoke out yesterday, he says he sees no stimulus deal until the end of september. What a shame. Meadows added that the white house reached out to Speaker Pelosi to pick up negotiations but he has not heard back. What is going on . Whats your stimulus outlook, congressman . Its unfortunate. And, you know, ive said and i will continue to say, if you want to get the stimulus done quickly, if she really wanted to get it done, just call everybody back and say that were staying here seven days a week, 24 hours a day, until we get this thing done. I guarantee you the stimulus would be done in a few days. The problem is, the speaker just doesnt want to do it. And she didnt want to do it in conjunction with the other bill that we did when we were here. She doesnt want to do it in general, it seems. And thats really disappointing, youre right. We want to bring this economy back. We want to help people that are having obviously problems. We want to work with business and we want to have another draw on the ppp. Theres a lot of things that need to be done here on a lot of good things that would help with the covid problem as well. All can be done, most of them can be agreed upon. Thats the real issue here. Most of them can be agreed upon if we just dont fill the bill with fluff and nonsense. Maria well, there was a lot of stuff that was 100 unrelated to covid in the democrats 3 trillion bill. Congressman, i know i always tell you this and i love getting your insights because i know that youre practical, youre moderate, youre in the middle. I believe thats where most americans are, hanging out in the middle. You might agree with some things on the left. Largely speaking you love america and you want safety and security. Has the Democrat Party been hijacked all the way to the left with extremists . It has. It really has. They dont want to admit it but if you really look and listen to what they did, and look at the two conventions. One is a convention that really found an awful lot wrong with america, a great deal of negativity, unhappiness. The other of was a convention that said yes, we can always improve and america always is selfhealing and selfimproving and always has that ability but its also a convention about the greatness of this wonderful country that as one of my heroes said, Ronald Reagan was a shining city on the hill. We are that shining city. We are the hope for the future. And maria, sincerely, this is the most important election in general in congress, the president , the senate, i believe since the civil war. America is deciding where its going to go. Its no joke. Maria yes. For sure. Congressman, thanks very much. . Given my unique lifestyle, thatd be perfect let me grab a pen and some paper. Know what . Im gonna switch now. Just need my desk. My chair. And my phone. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. i need it so bad dont call it a hobby. Its way more than just a job. This is how we live every single day. Can we go and play . roaring of engines i needed to try needed to fall i needed your love im burning away i need never get old im burning away 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. Debating American History and the role of its founding fathers. An Illinois School district is now considering changing the name of some of the schools in the district including the Thomas Jefferson primary school. Peoria Public School board member Gregory Wilson said the following. Quote, we have children, black children that go to this school that if Thomas Jefferson was alive he would not welcome these black students in sight of this school. This coming amid heightened racial tensions in the country. If we had children in this school today, dagen, this is not 1789. Whats your reaction . Dagen they should rename all of these schools, ps1, just like they do in new york. There shouldnt be any names of anybody on any of these schools. Can we talk about the kids . Can we talk about the education that these children are getting . Where the United States, again, trails many other industrialized nations, really lags on the world stage when it comes to particularly math and science education. This is what were going to get upset about is renaming schools . Be upset about the fact that our children are lagging, that theyre not being educated, whether its about history or particularly in math and science. Thats worth getting angry about. Maria well, look, i agree about getting angry about where we are in terms of academics. Thats obviously you are absolutely right, right on point. I disagree in terms of renaming these schools. I mean, this is our history. Thomas jefferson was one of the drafters of the declaration of independence. He was a president , a Vice President , our first secretary of state. Why are we canceling our history . Steve forbes, how do you see it . Steve well, this is a cultural war against our history, trying to discredit it so the far left can take over and jefferson knew slavery was wrong, unlike washington, he did not e emancipate his stage. I think if he came back today, he would be delighted that slave slavery was out of the way and the principles he enunciated in the declaration of independence not to bheangs th mention what s put in the constitution, those principles undermined slavery. Undermined the institution that had been in existence in this world for 4,000 years. So recognize jefferson had his flaws but everyone has flaws. And this country i think the speakers in this convention are so good by pointing out were trying to move toward a more perfect union. Its a journey. Theres not a destination, its a journey and were making progress and i think thats the theme of this convention and i think that resonates with this country more than trying to erase the past. Maria yeah, were talking about the rnc today and tonight is the final night. We will give you the highlights of night three when we come back. It is making headlines this morning. 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Good thursday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is thursday, august 27th. A look at markets right here. Looking at a decline at the start of trading, the dow futures down 88, nasdaq futures lower by 21, s p down by 8 and three quarters. Investors are waiting on the Federal Reserve today, fed chief jay powells speech and the latest readings on jobless claims and the gdp. It comes after the s p 500 and nasdaq hit all time highs again yesterday. The dow industrials were up 83 points, the stunning move in the nasdaq up 198 points put it in unchartered territory. It is at 11,665 on the nasdaq, s p 500 begins the day in record territory with a gain of 35 points yesterday. European indices are down across the board, with cac down 25, dax down 43. In asia markets were mostly lower, with the exception of the shanghai composite. The Justice Department investigating whether four u. S. States vie late violated federal law by ordering public nursing home to accept recovering covid19 patients. Cheryl the doj requested covid19 related data from Nursing Homes from four states. The four states have been hit hard by the pandemic, reporting the highest number of covid19 related deaths associated with Nursing Homes. The governors slamming the request, calling it politically motivated. Facebook is warning new privacy protections in apples upcoming advertising system could devastate online advertising. Facebook says the move would also hurt app makers. Users would have to agree to have their activity tracked online. Facebook shares, stock is slightly down. Its electric, honda out with its first ever all Battery Powered car. The honda e was released in europe earlier this month. Its a compact car meant solely for city driving. Looking at honda yeartodate this morning, stocks been under a little bit of pressure especially during the pandemic. And those are your headlines. Back over to you. Maria all right, cheryl, thank you so much. Vice president mike pence highlighting night three of the rnc last night, he accepted the nomination with a rousing speech. Blake berman with the latest in washington. Reporter good morning. The Vice President trying to draw a direct line between the economy and the upcoming election saying in the months you ahead it is the economic recovery that is on the ballot. On november 3rd you need to ask yourself, who do you trust to rebuild this economy . A career politician who of presided over the slowest economic recovery since the Great Depression . Or a proven leader who created the greatest economy in the world . The choice is clear. To bring america all the way back, we need four more years of President Donald Trump in the white house. [ cheering and applause ] reporter the Vice President also tried to portray President Trump as a leader who has kept promises and joe biden as someone who will raise taxes and make the country less safe. He also directly you addressed a key line from the democratic nominees speech last week. With it as well, the Vice President implied that a covid19 vaccine could just be weeks away. Now, last week joe biden said that no miracle is coming. Well, what joe doesnt seem to understand is that america is a nation of miracles. [ applause ] and im proud to report that were on track to have the worlds first safe, effective Coronavirus Vaccine by the end of this year. [ cheering and applause ] reporter after the speech last evening, President Trump and the first lady made a brief appearance to wrap up the night. Of course, President Trump will get his turn in the limelight tonight from the white house of. One thing to keep in mind, though, maria, as we wake up this morning. There is a devastating category 4 hurricane that pounded the gulf earlier this morning, going to be moving up through parts of the country as well. I was texting with a Trump Campaign official at about 11 30 last night, asking if there would be any changes to the format of the Program Later this evening. I was told as of last night that there would be no changes but of course as the sun rises this morning and we start to see some of the images out of louisiana and parts of texas, you have to wonder if there will be some changes at least later this evening over at the white house. Maria, back to you. Maria all right. Blake, thank you. Blake berman. We were talking to jeff flock earlier and the winds were incredible, the gusts were really moving him around. I will tell you that the category 4 has been downgraded to now a category 2, hurricane laura, that is. Dagen mcdowell, lets talk about the rnc. I dont know how you see it but these conventions could not look more different when you look at what has been discussed at the rnc versus what you heard last week at the dnc. Which was a lot of hate on donald trump, but very little in the way of policy and solutions to some of the issues American People care about. What are your thoughts . Dagen right. A lot of the dnc was a rehash of left wing ideas that we have heard over and over again and didnt really seem to meet the moment, if you will, in terms of battling this virus, how the democrats if elected to the white house would bring back the u. S. Economy. It was a lot of talk about Climate Change and justice or the lack thereof. That being said, last night and john hordes writes about this on in the new york post, the onus was put squarely on joe biden. Joe biden finally came out of a basement in delaware and put out a statement about the unrest and violence in many parts of this country. But it was a statement that was still lacking, according to many people. And i think that this is where the president tonight will really be able to make an impact of because hes pointing the finger, rightly so, at Democratic Leaders across the country and it is the obligation, the constitutional obligation, the right and the obligation to keep people in their state safe. And that is not happening. Maria and those leaders have actually walked away from the police. They dont want the police around. They are allowing the protests and the medias calling them peaceful protests. Many of the pictures are not peaceful at all. We can see obviously whats going on on the ground. Joining us right now on the telephone is the Washington Examiner chief political correspondent, byron york. Its great to have you, part of the conversation. Whats your reaction to the rnc so far . Well, i think it has been an incredibly polished and effective performance. I think one of the things people thought going in is that, well, democrats have access to the greatest entertainment talent in the world, hollywood is almost exclusively democratic. And i think you would have to say that this Republican Convention has been better produced and better put together. I think there are the big messages that were talking about, about law and order, about keeping order in the entire country. But this is also this has also introduced us to some extraordinary people. Sister deirdre byrne, the surgeon, air force colonel and sister. It was just an extraordinary message from her. And its been really, really quite an enlightening thing to watch. Maria the other thing is, you know, the democrats talk a lot about having a big tent. Well, look at the tent that the republicans are communicating this week, a lot of women. You also heard from rick grenell who said President Trump has been the best president for the gay and Lesbian Community that he has ever seen. You interviewed President Trump yesterday. He told you about drug testing ahead of his first president ial debate with joe biden. Tell us about that request and about your interview. Well, you know how the president has a habit sometimes of just dropping some big news in a conversation and we were talking about maria he does. We were talking about the state of the race. He said im going to call for a drug test, by the way. Oh, really . And basically what he said was, he watched all of the democratic debates. There were 11 of them that joe biden took part in and all of them were multicandidate debates except for the last one. The last one was just joe biden and Bernie Sanders. So what the president said was, you know, biden did not perform well. He really wasnt there. And then, boom, in the Bernie Sanders debate he was much better. As the president said, well, no, he wasnt Winston Churchill but he was better. And the president was clearly suspicious of that. Now, hes not he doesnt have any evidence beyond his own observations here. But hes going to call, he said, for a drug test for both of them before the first debate. Now, i have to say, theres been a lot of wrangling about debates and the president has not been on the winning side of it. First, he wanted to have more debates and the commission on president ial debates said no. Then he wanted the first debate which is scheduled for septembeo take into account the fact that early voting starts pretty soon and the Commission Said no. So i dont think the president thinks this is really going to happen but i believe its another way of him trying to cast light on his belief that joe biden is not up to the job of being president. Maria right. Exactly. All right. We will keep watching that. Thanks so much, byron york joining us. Coming up the top women in the Trump Administration taking the stage last night. A florida congressional candidate will weigh in when we come back. 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Thats why its time for Digital Currency and your investment in the grayscale funds. Go digital. Go grayscale. Maria as i recovered, my phoe rang again, it was President Trump. Calling to check on me. I was blown away. Here was the leader of the free world caring about my circumstance. This is the man i know and the president we need for four more years. He picks the toughest fights and tackles the most complex problems. He has stood by me and he will stand up for you. Under President Trumps leadership, womens unemployment hit the lowest level since world war ii. 4. 3 million new jobs have been created for women. Maria that was Kayleigh Mcenany, Kellyanne Conway and laura trump highlighting personal connections to President Trump, what hes done for women in his first term. Joining us right now, florida congressional candidate, maria elvira salazar. Thank you for joining us. Your reaction to what you heard from o women . Do you have a connection to share with President Trump . Well, i have a connection with my community. I have a connection with the Republican Party, that Republican Party that is telling over and over again that we are facing socialism. Something that that Republican Convention has been saying all along. And i am very happy that i have the opportunity to be here with you again. Because im a mother just like they are and were all very concerned with the threat that we are facing within the Democratic Party. The Democratic Party that has not realized yet that what theyre selling to the public is horrible for our children. So we as mothers, we are very concerned and thats why im running for congress. Maria so do you think that it has resonated, what this administration, what the Republican Party represents when it comes to women . When you hear the other side, the critics of the president will say just the opposite, maria. Well, because thats exactly what they said, mari maria 20 ys ago in venezuela. Everybody tells me oh, no its impossible, how come youre running for congress . How come youre saying its impossible its going to happen in america . Then we heard that in venezuela 20 of years ago they said to us cuban americans, im first generation cuban american, were saying its impossible it happens in venezuela because we have oil. We have the largest reserves of oil in the world. You are a little tiny island. What were saying is that, yes, socialism is misery, oppression and exile. That in theory its fantastic. But in practice, its miserable. That is why we are so concerned and my Community Knows it very well. Maria tell me about your community, maria. Because youre seeing a flight out of high tax states right now and they are going to places like florida. Have you seen it . Are you feeling it on the ground . Absolutely. Were seeing it. And were seeing those new yorkers that are coming to florida because they do not want to pay more taxes, because they do not want to defund the police, because they want law and order because they want the america that we know. We understand, maria, that the system is not perfect. We understand that we need to make some changes. But we also understand that we do not need a revolution. That word is very traumatic. Weve got to fix the system that works very well. Its not perfect but it has worked very well for 300 years. And i am the perfect example. My parents are just like the people that were sworn in the other day during the ceremony. Maria tell me about that. Because the president did a naturalization ceremony which was a surprise to a lot of people. You say that hits home for you. Oh, it has. You know why . Because i dont see in the news organizations reporting how happy those people were. Those people came from sudan, from ghana, from bolivia, from india. All those countries have experienced democratic socialism. If you read what they have been saying which has not been show of cave showcasessed in the s organizations, they say theyre happy to be in this very special place. Not everyone gets to be an american citizen. Thats what were fighting for. Maria its great to see you. Well be watching the congressional race. Quick break and then eric trump is here to discuss his fathers Reelection Campaign. Dont miss that. And then a unique way to drink and social distance. Were going to take a look. Stay with us. Experience the adventure of a bigger world in a highly capable lexus suv at the golden opportunity sales event. Lease the 2020 rx 350 for 419 a month for 36 months. Experience amazing. At your lexus dealer. Coming to the green flag, racing at daytona. Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. He scores stanley cup champions. Touchdown only mahomes. Expect anything different . The big events are back and xfinity is your home for the return of live sports. Maria welcome back. Time for the morning buzz, first up drinks from a secret window. If you go through the cur curtan covered hallway youll find a button on the wall. Press that button, a wooden panel slides open and a bartender will serve up a drink. Pretty fun stuff. What do you think of this, dagen, a socially distanced way to throw it back, to a speakeasy. Dagen very speakeasyesque. Just give me a bottle and a plastic cup. Do away with the theatrics, just give me a bottle. Maria im kind of into the secret window. How about this, the samples are back at costco, steve, with new safety guidelines, only dry and prepackaged goods will be made available for tasting. The stores removed the samples in march due to the coronavirus. Do you think consumers will embrace this or people wont want samples to eat . Steve i think theyll embrace it, especially if the wrappings include certain kinds of cakes. So it may be wrapped and its free and why not. Maria who doesnt like a free snack when theyre shopping, i guess. Steve absolutely. The wrapping will make people feel its safe. Good move by costco. Im looking forward to my free cake. Dagen youve got to pull your mask down to eat it. Maria thats true. Dagen im not in on this. Steve this is not new york. Most parts of the country theyll let you do it, im sure. Dagen theyll let you do it but the stores are crowded, steve. A costco where i came from is the density of a new york city subway car. Steve well then they can take it home and send the kids in with your card to get more free cakes. Why not. [ laughter ] maria everybody likes free snacks. Come on. All right. We will take a break. Weve got some serious information to come up. We are looking at hurricane laura, it made landfall. We will take you there live to louisiana at catastrophic wind and rain pummel the gulf coast this morning. Eric trump is here to discuss his fathers Reelection Campaign ahead of President Trumps big speech tonight. Its all next hour, right here, mornings with maria live on fox business. 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. So you ready to hit the road . I dont know. Just get on your bike. And ride no welcome back. Good thursday morning. Thanks for joining us. I am maria bartiromo. Thursday, august 27, top stories 8 00 a. M. On the button on on the east coast, Vice President mike pence spotlight on Law Enforcement, on military, warning that you will not be safe in joe bidens america, at 8 30 a. M. Eastern this morning, President Trump son eric trump is here a case for his fathers reflex laura makes landfall as dangerous four hurricane live to the gulf in a moment, to take a look, a triage arrested accused of deadly shooting during kenosha, wisconsin protests, plus tiktok ceo stepping down why are resigning coming up, world Central Bank Leaders coming together for Federal Reserve jay powell, he will speak at key kvrns investors closely watching what powell will say about inflation. Markets lower futures pulling back after yesterdays record nasdaq s p 500 dow futures down 75 points right now nasdaq futures lower by 30 s p down 8 and one half 30 minutes time the weekly reading of jobless claims we will also get a revision on gdp. Abbott labs to hit a record high when market opens after fda gave authorization for the 5 dollar covid19 test 15 minutes to get results mornings with maria is live right now. Maria Global Markets this morning mostly lower in europe it is red across the board, the ft 100 down seven cac quarante down 17 dax lower by 32. In asia overnight markets mostly lower exception of China Shanghai composite bucked trend slight gain twothirds of one point, so top stories that we are watching this morning, night three Republican National convention honoring americas bravest devoting lives defending our freedom. Since 9 11 ive seen america heroes up close some saved my life. It is more than a word to me. It is a mission. A way of life. Maria Vice President mike pence touting President Trumps economic successes saying only he can help nation rebound from the coronavirus. We achieved lowest Unemployment Rate for women in 65 years. [applause]. And more americans working. Than ever before. In our first three years we built a greatest economy in the world, we made America Great again. [cheers and applause] President Trump will officially accept the republican nomination for president from white house, ahead of his big speech the speakers are many tonight, for night four centers for Disease Control prevention changing guidelines, for who actually needs a covid19 test, cdc says people showing no symptoms do not need to be tested agency reffing previous guidelines recommending tests for anyone in contact or close contact rather with infected person cdc estimates 40 people who have the coronavirus, are actually asymptomatic, the new glideans large some. President trump pushes chinese app to sell u. S. Operations the letter to employees wrote political environment sharply changed in recent weeks Trump Administration says tiktok will be band september 15 unless bytedance the Parent Company Chinese Company sells u. S. Business microsoft oracle in talks right now to acquire that business. Tiktok is suing the Trump Administration, over the executive order,saying that it was deprived of due process. Joining the conversation this morning, fox business Dagen Mcdowell, and forbes media chairman former republican president ial candidate steve forbes lot to talk about this morning another night to go through, of the rnc convention. Indeed. Vice president mike pence accepting the nomination for second term last night at rnc, the Vice President , long key republican speakers touting the Trump Administration record the case for reflex. In our first three years we built the greatest economy in the world, we made America Great again. You wont be safe in joe bidens america. We will always stand with those who stand on the thin blue line and were not going to defund the police not now, not ever i learned about our president , is different than what you might have heard. I learned that he is a good man. That he loves his family. That he didnt need this job. No one on earth worked harder for American People President Trump and Vice President pence have lifted americans providing dignity opportunity, results, this is the man i know. And the president we need for four more years. Be a radical for freedom be a radical for liberty, and be a radical for our republic for which i stand. Maria President Trump wrapping up the final night rnc tonight acceptings the gop nomination joining me right now wyoming senator senate jrj Foreign Relations Committee Member John Barrasso great to have you this morning thanks very much for being here. Good morning, maria. Maria so what did you think of the rnclue so far . Give a your take what you have seen i want to ask you after that about the senate races. Well absolutely. I think has been Outstanding Convention for republicans, you know you watch these testimonials, speeches patriotic inspirational full of energy huge contrast to what we saw a week ago from democrats we are honoring hometown heroes people that key of us safe, free everyday, military, the veterans, the Wounded Warriors last night with Vice President , and the president. Weve heard stories of opportunity, and hope, really, optimistic, and i will tell you i agree with Vice President pence, donald trump is the person to lead this Great American comeback when we are now on as we get the disease behind us. I mean i love the focus on the military, and on keeping the country safe. I tell you i have seen that sound bite of Madison Cawthorn many times every time i see from it last night i get chills that he actually stood up, at the end of that from his wheelchair incredible let me ask you about senate races senator, becauseive spoken with handful of businessmen and women concerned about losing the majority in the senate, mow do you see things . Well, we have the finest candidates you can ever imagine you saw, joanie from iowa going to win that race going to hold the senate because we know what could happen, if you had a Chuck Schumer in charge of the senate and nancy pelosi in charge of the house if the president ial rave went the other way. You are talking about what you heard, from Bernie Sanders. The when he said that the party is much more radical mainstream has moved radically to the left that is not the mainstream of america we cannot allow the senate to go to the democrats, weve very strong candidates we are going to win seats and hold the senate the the wall street journal has an editorial this morning about how critical, the race for the senate is, is one of the leaders chairman of the conference, i will tell you that, if Chuck Schumer takes over, he will be doing the bidding just along for the ride because it will really be, Bernie Sanders, and Elizabeth Warren calling the tune in the United States senate they talked about trying to put statehood for the District Of Columbia puerto rico Green New Deal want to pack Supreme Court adding more members to the Supreme Court, onesizefitsall health care, eliminating Health Insurance from 180 Million People who get it through work we are talking about a very changed america, if the democrats do what they want to do, and they have already said that they will limit filibuster we are with President Trump going to continue to hold the senate for the president , back in for the a second term, and make sure that we move forward, as a country, on focused on jobs, and economy, and our National Security. Right. And continue. Maria and i and i o he to support police. I saw oped this morning, exactly what i have been hearing from people who are concerned it is important to get you talking about what is at stake so people understand the need to hold that senate for the republicans. We are seeing it play out with stimulus showdown right now right the white house chief of staff mark meadows says he sees no the stimulus deal until end of september added white house reached out to Speaker Pelosi has not yet heard back, can you walk us through, what is is happening here . And what is the Sticking Point that democrats will not agree to . Well, number one nancy pelosi, and democrats have passed something in the in the senate im sorry in the house, really is it is handout heaven three trillion Dollars Money for the National Endowment for arts, environmental justice, all sorts of things completely unrelated to coronavirus. The republicans in the senate and we have a Conference Call coming up within next hour all senators as well as, secretary of treasury and white house chief of staff focused on targeted bill aimed at getting people back to work. Getting the the disease in the rear view mirror getting kids back to school, that is the path forward for the country i assume the president is going to talk about that tonight. But pelosis bill really even New York Times called just a liberal wish list, is something that is never going to become law she is holding it up as if something legitimate when it is not. We want last week last saturday democrats met and house met what did nancy do . S she blocked additional money for paycheck protection so people could get back to work, she blocked money for vaccine treatment, that is what we need to really make sure that coronavirus is in the rear view mirror moving forward record pace with coronavirus new studied from abbott out new testing all those things very successful, the day democrats believe and i that nancy pelosi and Chuck Schumer believe, that if nothing gets passed, that will help them in to november elections, but maria that is hurting the country. Republicans are ready to act, on targeted needs of the American People, it is just common sense we ought to make sure we get people back to work kids back to school joe biden wants to shut down the country again, he said it the other day, he is ready to shut down america, in spited of the terrible consequences and not just from are business standpoint but from health standpoint, as well, because shutdown is bad for peoples physical health and Mental Health we are talking about Industries Expert on Restaurant Industry tenuous situation Small Business owners need help watching for if i news out of your Conference Call next hour, of course, into election senator John Barrasso thank you so much. Major story this morning is hurricane laura slamming the gulf coast overnight jeff flock is on the ground in lake charles louisiana jeff the sun is up now. What is the damage look like . You were blowing blown away earlier how does it feel now . Reporter well, uh maria sometimes hurricanes you know we say, it wasnt as bad as we thought maybe freaked being people out unduly i think today going to say yeah, it is every bit as bad as we thought wife been out surveying extensive damage throughout lake charles trees power exhibited by the storm, cat four as it came in came right up from from cameron, the town right along the coast, and came right through lake charles, deadon hit, the damage is everywhere, power lines everything down, we are told about 360,000 people are now out of power, in louisiana alone another 150, 160 dhou, in texas, this is main street in lake charles littered about debris littered with trees down lots of pine trees out here soft wood imagine 150 minor winds blowing now nothing like before but damage is far and wide, we took a direct hit, we got in the eye of the storm last night came in, you know, in the night so we couldnt see it we couldnt get out as much, and show as much of it as we wanted to, but, the aftermath is going to be incredible. Maria. Maria wow. All right jeff stay safe jeff flock in louisiana. Well be right back. Stay with us. Maria . When it came to the economy President Trump kept his word and then some. He passed the largest tax cut reform in American History Unemployment Rates for African Americans hispanic americans hit the lowest level recorded under President Donald Trump we achieved lowest Unemployment Rate for women in 65 years. Maria Vice President mike pence last night touting the economy, joining me right now, for reaction, is 32 advisers founder ceo former economic adviser to president obama Fox News Contributor robert wolf great to see you what did you think of rnc this week. Say it again. What did you think of the rnc robert . Live in probably most polllived environment i can remember i think rnc fed red meat to base i found most statements with respect to the economy or covid, almost ultimate universe what pence said on economy that is past tense the economy is in a recession 13 more Million People unemployed, since covid 5 Million People left labor, cbped contracted over 10 last quarter 80,000 Small Businesses, have closed. So, yes, we can all say that, you know, this didnt happen, but this is the trump nation today we are in recession in a pandemic we are making as if isnt existing on a daily basis, so it is surprising to me but robert. Yes . Robert Everybody Knows how we got here understands the coronavirus that came from china. And that is what caused the pandemic and shutdown, and so before the covid19 disaster robert we had Unemployment Rate 3 1 2 best economy in a lifetime if not a generation i, of course, assume mike pence was talked about the president s handling of the economy before covid. I can debate you on a lot of those things not best economy we ever had yes unemployment at left level Participation Rate still low we should talk about economy gdp they were expecting north 5 after tax cut we were 2. 5 last three years of President Trump not including covid i am giving him a pass on covid, with respect to the jobs, his last 36 months precovid 6. 1 million or 6. 6 million president obama 36 months prior 8. 1 million afrmthdz 225,000 new jobs a month, we can he can go detail by detail, i would respectfully disagree we were on a good trajectory over the last 8 years, very similar but now were in covid environment, we should talk about when the trump economy is reopening are we happy where we are today . I think the answer is no we have businesses part of we want a a vibrant economy that is not today. Maria but democratsed dont want to open the economy right . I mean you are seeing, calls for shutdown joe biden the other day just said look shut it all down follow science shut it down meanwhile, livelihoods being destroyed robert you know that you are in business see what is going on under the trump economy, wages rose for the first time in a long time, you actually had a movement on income inequality we can talking about, economy there is law and order Foreign Policy investors have to make decision in terms of who will lead after covid. Absolutely. More effective no, i agree with you, maria there is a whole debate who is best to bring out of recovery who is best what would i consider handover stemming he inequality race naebinequality can to being stock market that is good i am in market 87 owned by top 10 . So we know there is a noncorrelated to jobs the stock market going up we have 13 more people unemployed than business at closing we are going do have to have that debate whose policy is better whoever has that whoever has better strategy will likely win about the economy. Maria all right great to see you. Thank you so much robert wolf. Well be right back. Stay with us. Averaging. Treernl arrested in deadly shooting of two people joourg third person in protests in kenosha, wisconsin. This as we learn more about shooting of jacob blake Grady Trimble in kenosha with more grady good morning to you. Maria . Good morning, maria. Businesses still boardedup smell of smoke ebb from buildings cars set on fire in the air last night calmest weve seen since sunday curfew moved up an hour strikingly enforced hundreds additional Law Enforcement fbi agents u. S. Marshals National Guard moved in to the city sending a strong message to anyone looking to cause trouble. Violence in the community is not acceptable. Violence to property violence to people absolutely unacceptable. Battery theft weve got more resources coming in, and we are not like the mayor said too we are not going to put up with what we saw monday night. We are also learning new details about the shooting of jacob blake started thun rest investigators found a knife on the floor board of his van swhufr shot him identified his name on leave with he other two officers who responded info on other shooting two nights ago 17yearold accused of firing a long gun you can see on video kyle rut rit charged with firstdegree murder disappears to be with long gun with several other civilians police would not say if he was parted of an armed vigilante Militia Group that is being speculated on social media. Maria Grady Trimble in kenosha we will be right back. Stay with us. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. 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Ask your doctor about eliquis. And if your ability to afford. Your medication has changed, we want to help. Tools, cattle, grain, traded goods. Your medication has changed, even shells represented value. Then currency came along. They made it out of copper, gold, silver, wampum. Soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. Thats why its time for Digital Currency and your investment in the grayscale funds. Go digital. Go grayscale. Maria welcome back. Good thursday morning. Thanks so much for joining us he i am maria bartiromo. Thursday, august 27 we have breaking news on Economic Impact of the coronavirus initial jobless claims coming out any moment, right now, economists expecting one Million People filed for Unemployment Benefits in the last week, we also have the second estimate of the Second Quarter gdp to Cheryl Casone with numbers. Cheryl pretty much in line with initial chails estimate a million 1. 006 in line of a million, no change on dow right now the continuing claims though a little bit higher than we expected this is the week, ending august 15th estimate 14. 45 million, the estimate came in for continuing 14. 535 right now, gdp is 31. 7 that is a contraction that is a little bit better than the estimate and actual a little bit of an improvement on the initial reason this is second read for Second Quarter gdp 31. 7 contraction again better than economists had been expecting better than worst number on record 32. 9 first read on gdp back to initially claims a couple pieces here, first, since midmarch 57. 4 million initial claims that have been filed brings us to 58. 4 million, initial claims also with continuing we were hoping to kind of go below pandemic low, that was estimate looks like not actually stwaul we are a little bit below pandemic low i am sorry new low 14. 535, good news continuing number we do weektoweek, as you know, kind of a bigger story as i send it back to you for reaction, i just wap want to add initial claims we got for last week, the two states filed most initial claims number one new jersey, numberub two new york, got to think that Service Sector jobs loving those because restaurants arent reopening in fact more are shutting down i send it back to you. Absolutely thank you so much a market that is actually off lows, after your reporting we got dow industrials down 8 points nasdaq down 23, s p down 3 1 2 steve forbes your reaction look yes, the contraction was better than we expected but these numbers are horrible, question is will we see bounceback . Steve i think we are seeing a bounceback, i think you see unfolding too tale of two cities so to speak mention made of new jersey, new york continuing crazy lockdowns, new york you cant even go inside a restaurant, ridiculous when adjoining counties you can, so those are self inflicted wounds red states better than blue states better reopening economies underscores where Administration Must emphasize two businesses, not to withhold payroll taxes from employees, there is a lot of confusion out there, they need the to clarifying order from treasurer from white house, so employment reducing cost of labor that can kick in and get more job creation. But right now a little muddy those Waters Administration has to clarify that, i think you will see, better numbers in the weeks ahead. Maria yeah look, even though we are still talking about a sharp contraction this market is responding trading up we are well off the lows of the morning, dow industrials now flat just was up one point now up two points nasdaq negative 21 points s p sitting on flatline down two points looking forward to night four of the Republican National convention, President Trump closing out the convention tonight, formally accepting gop nomination for president Vice President mike pence among speakers last night touting President Trump as leader will stand up for america. The. Joe biden says we were living through a season of darkness. But as President Trump said, where joe biden sees american darkness, we see american greatness. We face critical choice joe biden fab left failed policies past 47 years or President Trump, who will stand up for the American People, and the constitution. I believe, in the wisdom spirit of the American People to elect only candidate capable of protecting the american dream, president donald j. Trump. This is not just a choice between republican and democrat or left and right. This is an election that will decide if we keep america america, or if we head down an unchartered frightening path towards socialism. Joining me right now Trump Organization executive Vice President and President Trumps son eric trump good to see you this morning thanks so much for being here,. Glad you have my wife in there otherwise i would have had to give you a hard time, you know,. [laughter] yes laura did a great job you did a great job with your speech as well. What will your father talk about, during the speech tonight, lets preview what were going to see tonight another big night, of heavy hitter stars from the party. Well he i think kind of my father performed well, look at state of the unions given talks about issues he goes out there i think really nice speech i think a long speech i have think going to have a lot of substance compare with dnc also a, you know, trump is bad and covid dont want to talk about successes we have had no longer ripped off by entire world look where dow is right now relative to where it with a he is three ago the vshaped recovery, what is it 10 million jobs in last 90 days last 89 days have come back into this economy. Incredible despite what steve forbes two seconds ago governors, mayors keeping places New York New York city, totally closed but our country is coming rocketing back we should be proud of that what he has done for military what he has done for School Choice in this country, and i can go on and on what he has done for taxes everybody wants to forget taxes. He put together largest tax cut in the history this have nation, got rid of more regulation than any president ever, and why this economy and why the country has done if onlyly well imagine what he can do with roanother four years. Rnc highlighted different issues we look at polls, for the most part American People will give donald trump the credit in terms of being the one to lead, for the economy. But now, what youve seen in rnc this week other important issues, like supporting police, defending the police not defunding them like Foreign Policy, in fact let me ask you about the tent of the Republican Party i mentioned this earlier the rnc made a point to go out and reach out to the African American community go outreach out to women, you had rick renel talking about Gay Lesbian Community saying President Trump in best president for that community, what are the plans in terms of hitting all these different issues, eric . Is this something your father is trying to communicate that the republican tent is bigger than people thought you hear about a big tent on democrat said to all the time. You know, rick, i am glad you mentioned that lcomi. Bt he put out a video i encourage everybody watch it a video incredible talking about how donald trump has o done more for lbg. Community than any president in history listen to jack last night absolutely phenomenal my father policies have been more for lyou have the bcomi. T African American unemployment inner city opportunity zones look at democrats, democrats always taken votes totally for granted done absolutely nothing for them i mean you probably saw maria video from interest kim, amazing running in baltimore, congressional seat one of the most politically watched videos in history walking through the city saying, you know thee people failed you have failed you give me the opportunity incredibly powerful video, you know it is not that a you know he is trying to, you know, a lot of times you see dcdnc try to pander to people my fathers policies last 3 1 2 years have done more for certain groups of people in this country than ever before, and we should be proud of that, america should be proud of that, i am glad we are emphasizing it, i do think a different Republican Party in that we are willing to talk about that, and we are willing to be proud of it will put that front and center, and you see the poll numbers you see poll numbers as relates to, you know, certain demographic groups, i can tell you worrying that dnc worrying dnc a lot losing stronghold no longer pulling wool over the eyes of america. Maria so what do you want to say to somebody like robert wolf joined me five minutes ago said i think i am living you are living in a different alternative universe not looking at good economy anymore we just had jobless claims out a contraction of 31 i said yes, of course, Everybody Knows that that is the china virus, coronavirus that caused shutdown but President Trump hedge of the economy before covid was 3 1 2 unemployment he pushed back said no, no, no we are at a moment in time where people are going to o than yous people are out of work, Small Businesses hurting what do you want to say to him in that regard . Well listen i definitely shake his hand in person, being robert and i like each other i heard robert other day tv how is biden going to fix economy . Education, greet we are going to start 30 years in, 20 years, you know and my father has done more fore education remember biden totally against School Choice totally bought and sold about teachers union, et cetera, et cetera, we dont have a real plan i am not sure if bidden knows how to spellq economy never created i take that back created one job are hunter biden more to put money in their own poths stienl handedly lived off government last 47 years doesnt know slightest thing about American Business American Worker doesnt know slightest thing about American Company never worked toudz of washington, d. C. , give me a break, this guy cant spell economy doesnt know slightest thing about the real world i dont want to to hear from it them the improving the educational system today, is going i mean a beautiful thing something my father has done more for than any president this is his quick fix for the economy . Doesnt even make sense push him on it just push him on it what is bidens plan . Right we didnt really hear a lot of policy solutions at dnc that is for sure, it was a lot of just hating on your father, you gave a very emotional speech at rnc, you took it personally what was that like speaking out about your father such a huge event talking right to him er eric . Amazing honor of lifetime you covered it very well, i gave my speech 2016, when your in front of 0 though people massive auditorium a rock concert somebody on couch with children, with their husband or wife, and you know getting into the american home, and i wanted to bring that tone into my speech, and i love my father, he is greatest what he sacrificed to do this for the country is tremendous. The job he has done is amazing. I want to come off that proud moment i wanted to come up with hart felt message, proud of him i love him to death done awesome job awesome job for this economy which is Everything Everything to the United States, and, i wanted to convey that i certainly think i did. As to. You definitely did i like what you said please continue to be unapologetic, eric a couple seconds left before you go, one of the principles in President Trumps list of things that he is going to do in a second term was push congressional term limits interesting you have said joe biden in government 47 years maybe we will start to see accountability, people like nancy pelosi who have been in the job so long yet look other constituents, look at San Francisco, the mess San Francisco is in. People want to actually see solutions here. Maria, i am not oldest in the world not youngest hasse been in government 10 years longer thanive own alive blames problems of the world on my father trump said where were you last 45 years why did you we believe almost 80 years old going to come out miraculously come on stop crazy we need term limits look at entire, dnc people in government 40 plus years unrelateble to average american we need fresh blood in washington, d. C. ,. Important point great to see you this morning thank you so much. Thanks, maria. We will be looking forward to night four rnc tonight stay with us. Well be right back. But then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Maria welcome back, Restaurant Industry fighting for life even more bankruptcies could be on the way government funding ran out cooler weather rolls in Outdoor Dining even more difficult, joining me right now chairman ceo of Charter Holdings ray washburn characterize the state of the industry. The industry is not in good shape, as you can imagine, ppp money given to us, march 14 pretty much everyone in our independent industry it was supposed to be 8week Program Going to run out i think that yeah, i think that rays we will get back to him momentarily i can tell you right now steve forbes what he is going to say you are looking at some independent restaurants unable to come back only going to get worse he talked a bit about the ppp money that is one of the issues here, but now even land lords are becoming know much more frustrated and they dont not going to be given wiggle room they were earlier in this pandemic, steve. Steve that is right, that is why a couple things one is the Federal Reserve, and Treasury Department got to get off their duff, make Lending Program get off the ground instead of having all restrictions on this several hundred billion could loosen up there still money in ppp, the Restaurant Industry i think has to get more aggressive with crazy places like new york city arbitrarily preventing indoor dining, at a time which is just going to kill restaurants, they are barely hanging on now, and they have no sign to say back it up you see dichotomy of division between red states blue states in terms of reopenings. In any case what you believe true seeing politics play into this as well . Absolute steve is exactly right, in have cities like we are in dallas multiple locations we are able to put seating the into parking lots, which has been a satisfy your now rains coming in to having shut that down cant imagine this fall but government regulation has been loosened up a lot to get out in fall day of thing to followup on ppp comment that money was given to us to pay employees we serve basically Unemployment Office for the government weeng use for rent utilities. What it didnt provide fore if you do that outdoor seating someone has to buy tables chairs and all equipment to do it any capex had to come out of your own pocket, the independent Restaurant Owner learners at very, very low margin, we are monthtomonth, kind of nature of the business now they have no whatever for additional expenses ppp came in treated as taxable revenue, so, as your accountant against expenses this is employees rent utilities, so, that is going to create a problem that needs to be fixed. Ray stay there we want to get back to you after the short break more with ray washburn. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Its time for aerotrainer, with your weight and health . A more effective total body fitness solution. announcer aerotrainers ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form. Aerotrainers unique design allows for over 20 exercises for a total body workout. Plus, you can easily transition from one exercise to the next. Want tighter abs and a stronger back to help relieve pain . Do the aerotrainer super crunch. The prestretch works your abs even harder, engaging the entire core. Then its the back extension, super rock, and lower back traction stretch to take the pressure off your spine and stretch muscles. Planks are the ultimate total body exercise. 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Now its your turn to lose weight, look great, and be healthy. Get off the floor and get on the aerotrainer. Go to aerotrainer. Com, thats aerotrainer. Com. Maria we are back with Ray Washburne chairman ceo Charter Holdings, ray your company, has investments in reas well as restaurants. How many restaurants do you believe will not be able to make it given the moment in time that were in they dont have the ppp money and they cant have foot traffic. I since this started 16,000 restaurants in United States closed i think you are going to see that number or double that next 60 to 90 days the reason with ppp money running out end of july, if you havent gotten back up to at least break even i dont know how you are going to get there with weather changing additional government regulations coming in, it is very difficult, our protein prices shot up cost of running business just sky rocketed on us,. Wall street able to spend, independent restaurateur is not able as we enter cool weather if we dont open back up we have a bleak situation for the independent restaurants. I could see that what about real estate ray . How will that change because a lot of people dont really need that commercial real estate space they thought they needed in january. Well that is true, a lot of brands chilis breaker international set up a ghost kevin in restaurant called its just cried underlie new brand already done 150 Million Dollars during pandemic with no capital costs whatsoever the rest of us typically restaurant about 5 to 6,000 square feet america suburbia do we need a kitchen that large no a new diagram we need deliver pick up delivery, so with our excited to go into fall we think there is a lot of people pentup want to get out weve got to get them into restaurants. From landlord shows the impact on jobs in so many other related industries ray thank you so much. Sights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Maria thanks for joining us, everybody, have a great day. Varney Company Begins right now. Stuart good morning, maria. Good morning, everyone. Daylight just arriving along the gulf coast, and were getting a first look at the damage. Laura arrived at a cat four storm, 130 mileperhour winds, gusts up to 150. We know the storm surgery moved a wall of water inland. Headache charles said to be lake charles said to be, quote, severely damaged. Its an unfolding story. Were getting eyes on the damage, and well follow laura as the storm moves up into arkansas. Were on it