Transcripts For FBC Mornings With Maria Bartiromo 20170711

Plan to return to normal. Is city approving income tax only on the wealthiest residents of seattle and bad news for snap investors this morning, the stock stumbling again below ipo price, first time after to crack ipo price, whether he tell you about it. Goldman says crude oil could fall below 40 a barrel. 44 and change right now. Right now down twothirds of a percent. Thats weighing on equity. Fractional moves, of course, 5 points low ner the dow, 4 and a half points lower in nasdaq. In europe ibdics look like this, the markets are mixed. The ftse in london down three quarters of 1 right now. In asia overnight stocks closed mostly higher with the exception of china. Best performer was hong kong up 1 and a half percent in hang seng index. Baseball biggest stars gear up for algame in miami tonight and bryce harper is stepping up his name with a pair of cleats, we will tell you about it. Joining me to talk about about it president of maslansky partners lee carter and Jason Chaffetz and Jon Hilsenrath, good morning. Great to be here. Maria great to see, everybody. Good morning, thanks for having me. Maria we are happy to have you here. We want to talk about the agenda, obviously, and whats going on in terms of all of this russian noise. You assume that theres an actual agenda, we will roll with that. [laughter] maria what do you think . Repeal obamacare and tax reform. Maria Senior Vice President chief Strategy Officer Anthony Scaramucci will join us this morning. The secretary of energy and former president ial candidate is here rick perry. And the leader of the house, House Majority leader Kevin Mccarthy is here along with fox news analyst general jack keane. Do stay with us. We kick it off with top story. Tragic news out of mississippi. Breaking news right now where officials are investigating a fiery marine plane crash believed to have killed 16 people on board. The transport aircraft, corkscrewed out of the scrie last night. It slammed into a soybean field in 85 miles north of jackson. Fbi and local authority are still swifting through the debris this morning. Joining us right now andrew peek. Always nice to have you on the program, thanks for joining us. Thanks, maria. Maria no word yet on what caused the crash. How do you see this . Its not only volatile aircraft because air refueler, it can carry a lot of fuel in the air and flammable but also an airframe thats over 50 years old. I remember back when i was working defense acquisitions in 2007, 8, 9, this was the air forces top priority to get replaced. These aircrafters simply too old. I suspect congressman chaffetz knows this as well. The fact that these are still in service and theres no end date for when theyll be transitioned out of service i think is concerning because incidents like this one. Maria thats a big deal, do you agree with that, jason . We have talked about us having old fleets. He is absolutely right. If you look at the history of these and i have flown in some, im not in military but as member of congress ive been in many of these things. You have duck tape putting these things together. We have been pounding them in iraq and afghanistan but we havent built up the actual military aircraft that we need and i hope that this is a wakeup call. Dont know if its directly relate today it but the planes are very, very old. Maria wow. Is there anything that you would suggest, andrew, in terms of solution next steps to update the fleet . Its not an immediate next stup but we have to have streamline of acquisitions process. Theres such a tension between the many loopholes that the pentagon has to go through to get a new aircraft and the kind of emergency war base supplies that commanders on the ground in places like iraq and afghanistan have been able to get their hands on. Theres nothing in the middle. We have two programs, one for emergency combat requirement and one longterm decades long acquisition. We need something that within a reasonable time frame can get military aircraft it needs. Jon you talk about streamlining the process, do you see any evidence that thats happening, the president came in very early started pushing on some to have big contractors to lower prices on specific programs, but is he doing anything to make this more systematic that goes out through the entire acquisition process . Absolutely not. I dont think the white house is going to take this up as a priority. Its simply as a bureaucratic and anyone at the Defense Department can do it is jim ma his, a war fighter and has priority for getting items out in the field. Maria let me ask you, andrew, federal authorities are investigating explosion in recruiting center near tulsa, the blast blew the doors off of the building, officers are saying no one was hurt but the fbi is investigating it as a possible act of domestic terrorism. Your reaction. Yeah, i think recruiting station duty is one of the most frightening things you can do state side in the military. You are out there by yourself in uniform, often in community that is dont have much of a military presence, you are a target bar none, up until recently as receives member, you werent allow today carry a firearm. Now its at commanders discretion. You are Walking Around as a target in place that is dont see a lot of military. Lee one of the president s commitments was to take care of military, hes talked about taking care of vets, we are seeing these kinds of incidents, we are seeing the airplane going down and other stories that we have been talking about how oxygen systems arent working in f18s or one of those, what can we do . That is the commitment of the president and this administration, shouldnt we be seeing more . Yeah, i think theres two elements in this. One is, look, theres definitely a lag time on restoring the militarys budget that was hurt by sequestration and other cuts after the iraq war and by combat in iraq, of course. I think also theres a cultural shift that this administration brings that theyre going to soldiers and other Service Members and saying, what do you want, what can make you happy and these are often small things, they dont get to the level of life and death issues but things like letting soldiers roll up sleeves, things like, you know, letting them carry their own firearms, its really demoralizing to be a Service Member on the base and be more unprotected and have fewer rights than if youre Walking Around on the street. Both of these avenues are ways to address the cultural and the financial basis of the military. Going back to the funding mechanism here, one of the Big Questions is how do we actually fund this and when we dont have budgets, when we are operating on contingency budgets, how is that affecting what theyre able to do longterm . A tough question for congress has to be how you combine this kind of special funding for the wars overseas as you point out, the overseas contingency funding into the pentagons budget. Over a decade thats been considered kind to have baseline pentagon budget and the forces plan out their budget based on those funds. I think having a serious budget press to bring those moneys into the Baseline Service budget is going to be incredibly helpful for that. Maria youre expecting that . No, no, i dont expect any movement at all on any front in any political issue in congress. Amen. Thats one of the problems, you take the overseas contingency and the consequence is they cant do the longterm planning because their acquisition is so difficult that you cant go back and buy effectively weapon systems at an effective costeffective rate. Maria thats incredible. Too bad. Andrew, thank you very much. Andrew peek joining us there. Delays in washington. Flights are grounded at three major airports after evacuation of a traffic controlled facility. What you should know before you head to the airport next. Amazon kicks off the day of deals. The best prime day offerings right here next back in a minute maria operations at three major airports coming to a stop causing flight delays an cancellations. Cheryl thats right, maria, forcing a ground stop at airports in the washington, d. C. Area last night. Reagan, all shut down, employees were evacuated just before 7 00 p. M. Eastern time. Operations resumed around 9 30 p. M. Eastern but maybe residual efforts this morning. Operations will hopefully return to normal today. We will keep you posted. The city council approving income tax tax on the wealthy, 2. 25 on anyone who makes 250,000 or 500,000 if youre a married couple. The city estimates a tax is going to generate 140 million a year. The vote, though, will like lie face legal challenges, excuse me, the seattle state of washington collect income taxes for any residents. And then best buy a name to watch today when the markets open, shares taking a dive yesterday following reports that amazon is working on creating a competitor to best buys very popular geek squad. The report drove best buy shares more than 7 that resulted in lose of over a billion dollars in market cap. Meanwhile we should say on amazon because the winds keep coming prime day today and the service is now on pace to be more popular than get this, cable, estimates show more people will have prime membership than have Cable Television subscriptions. Nearly 79 million households su scribed to prime, 90 million pay for cable or satellite, yup. Thanks to dagen i have prime. Maria me too. I just recently got it and i like it. Jon its the amazon economy. We spent the last ten years talking about the financial crisis and the results of it and how it affected Banking System and regulation, we are in a new world and amazon is driving it. Maria you would think at this point, though, even the mall operators, the big macys of the world would have figured it out that they need to have a better strategy to compete with amazon in terms of delivery. Jon amazon is a Disruptive Force and when youre the incumbent force its very hard to get ahead of it if youre target you can launch Online Service but everybody thinks of amazon when it comes to online. I do think the online sales tax has to be addressed. Five state that is dont have sales tax but if you talk to jolie who runs best buy, he cant compete with the amazons on the world which are now collecting sales tax, by the way, they should be on an even playing field. Jon an internet tax, is that what youre saying . Allowed the states to make own determination as to what tax they charge and dont charge. Allow the individual states to make these types of decisions. Some states are heavy on property tax, others have no sales tax others have high sales tax. Let those states who make that type of decisions, unless theres federal empowerment to do that, its not going happen and very unfair to retail who is going to give the service to hire the employees, they have the brick and mortar. Maria right now they are getting the sales tax . Theres online tax . It depends on the individual states but right now there has to be federal empowerment to create the even playing field. A huge massive issue that creates a disparity in the marketplace thats really not fair. Maria youre right. Jon in the meantime amazon is coming along and driving new technology, the way they do automation and Distribution Systems is fundamentally changing the economy. Maybe this advantage that amazon has is going to propel productivity. I love amazon, new distribution in facility, 1500 new jobs coming in. Maria thats a big deal for utah, thats for sure. Short break, when we come back setting a setback to report, social Media Company stock falling below ipo price for the first time yesterday, what it means for Tech Industry and snap in particular . 7eleven celebrates 90th birthday, how to score a free drink at the Convenient Store nt baby crying slow jazz music fly me to the moon and let me play bell ringing audience cheering i knew at that exact moment, whatever it takes, wherever i have to go. Im beating this. My main focus was to find a team of doctors that work together. When a patient comes to ctca, theyre meeting a team of physicians that specialize in the management of cancer. Breast Cancer Treatment is continuing to evolve. And i would say that ctca is definitely on the cusp of those changes. Patients can be overwhelmed. We really focus on taking the time with each individual patient so they can choose the treatment appropriate for them. The care that ctca brings is the kind of care ive wanted for my patients. Being able to spend time with them, have a whole team to look after them is fantastic. I empower women with choices. Its not just picking a surgeon. Its picking the care team, and feeling secure where you are. Surround yourself with the team of Breast Cancer experts at Cancer Treatment centers of america. Visit cancercenter. Com breast Appointments Available now. Maria take a look at snap, price fell below ipo. First time it cracked the ipo price since going publicly. Problems can continue for Snapchat Parent Company with decline coming few weeks before the lock ends. Chief equity strategists phil orlando. Lots to talk about twoday meeting with ecb, earning season upon us, but first when you look at whats going on with technology, snap is one example, but you could look at facebook, you could look at amazon, netflix, they sort of rolled over last month. Whats going on. Techs had a phenomenal run coming after the election. They were poised for a breather and thats exactly what we are seeing. Technology tends to underperform in the summer anyway. Health care tends to do better and thats exactly what the trend is here. You had such a strong move with technology, you were due for correction, thats exactly what youre getting. Maria a tough story on blue apron having trouble in the first week of its trading, broke the ipo price, 10 a share. Two ipo companies. We are not talked about seasoned companies with capitalization and management track record. Thats one of the risks of investing in ipo market, you dont know exactly what you get. Sometimes it works and sometimes it doesnt. Jon this is a shift from late 1990s when it was ipos going through the roof and now you have a tech sector booming but its the incumbents, its amazon, its facebook, how do you explain that . Why is the market more focused on i have incumbents than startups . Sure, i think thats simple. The fang companies, per say, they are generating much stronger growth than the olderlegacy companies. The situation in the 90s was very different. We had a macro backdrop of yk2 phenomena, everybody was buying new, new software, new chips in order to be compliant with the changeover, there was forced Global Demand that we are not seeing right now. The demand right now is coming in those fang companies that are producing well above averaged growth rates. Jon stay away from ipos stick with the blue chips . Do your homework. There are some firms and division very good in identifying ipos, they do a lot of due diligence, they visit with the companies as they are private and get used to them as theyre about to go public. Investors attend the meeting, get comfortable with whats going on and make a calculated debt. Maria dig through the numbers and the profit story, secondquarter earnings coming out beginning friday with major banks, jpmorgan, bank of america, all reporting this week, whats your expectation and how do you see the profit story playing out in the Second Quarter . Its looking 6 to 7 year over year. Maria in profit. Profits were up 15 in the first quarter. 6 now in the Second Quarter. Its too low. We think that number is low double digits, 1013 and we think the banks on friday are going to give us pretty good numbers. On balance we think its going to be a pretty solid quarter leading to overall a full year sort of allow, doubledigit earnings and 118 for last year. We think its going to be a solid corporate earnings year. The market and the economy doesnt seem to be affected by how the lack of progress on Health Care Reform as well as tax reform, how do you see the markets reacting for the fourth of july . Whats driving are firstquarter earnings, 15 year over year. We think Second Quarter is going to be decent as well, low, doubledigit kind of number. Theres no trump, if you will, in that 130dollar number. The work that Thompson Reuters suggest ifs we can get Corporate Tax reform, the leverage associated with every 1 percentage point reduction in the federal tax rate from 35 to something is a dollar 30 for every 1 percentage point decline. We can go to 35 down to say 20 that could add 20 in corporate earnings to the s p, thats not in this 130dollar number right now, but it could be in 150dollar number looking out lets say to 2019 or so if congress and the administration gets something done in the next year. Maria i totally get that that this market is trading on fundamentals and on earnings but theres a real expectation that we are going to see something get done, so, yes, maybe the numbers are just trading on a good profit story, but at the end of the day, if we dont get tax reform as jason is talking about, wouldnt that be a big blow to this market . Weve got a slide in presentation deck that after trump had done the successful state of the Union Address in late february about 70 of Market Participants thought we would get something done this year, its down to 30 . Maria expectations are going down . If they cant get the 15 that trump wants but they get 25 in the Corporate Tax rate, you said every notch matters, is that good enough . Maria i dont think its good enough. I disagree, maria, i think thats exactly the point. Trump is a deal guy. I think he threw 15 as bargaining chip. We would be very happy with something in 20, 25 neighborhood knowing that the Global Corporate average is 22 . Idea is you have to close the gap because we have created a disadvantage for ourselves in the Corporate Tax side. Weve got to fix that. We dont need to get to 15 to fix it but something in the neighborhood of 22 , one side or the other i think could get the job done. Lee i spent a lot of time talking to average american who is are hardworking and trying to figure out what to do right now and theyre getting nervous because they are not seeing stuff get done and they are wondering, is this a bubble, should we not be investing . Its not a bubble because the valuation is moderate. We think multiples ought to be close to 20. This is not where we were in 1990s with the y2k bubble with stocks were up 30 times earnings, thats not the situation. I think frankly the republicans made a mistake in starting with health care, they should have started with tax reform. Maria everyone says that. Some areas where we had bipartisan support. Maria real quick before we go, theres a worry as this economy is gaining traction the Federal Reserve is going to smash it down with raising interest rates, we have janet yellen on the hill this week, what are you expecting from her . I would like for her to talk about decline in inflation, core pc has 18 to 14. I would like to see justification in light of backdrop of accelerating inflation. Maria theres a chance that sort of smash an economic recovery just as gaining traction . What the fed is going to give us one more quarter point rate hike and start to develop a plan to start unwind the Balance Sheet but its a concern that in the face of decelerating, will they do too much that could hurt jon janet yellen does not want to smash the recovery. From a legacy standpoint, the last thing she wants if she does leave office last february is to be Federal Reserve chair that created the double dip. Thats not what she wants in her he is may. Maria thank you so much, sir. Phil orlando. Stay with us. [radio alarm] julie is living with metastatic Breast Cancer, which is Breast Cancer that has spread to other parts of her body. Shes also taking prescription ibrance with an aromatase inhibitor, which is for postmenopausal women with hormone receptor positive her2 metastatic Breast Cancer as the first hormonal based therapy. Ibrance plus letrozole was significantly more effective at delaying disease progression versus letrozole. And ibrance plus letrozole shrunk tumors in over half of these patients. Patients taking ibrance can develop low white blood cell counts, which may cause serious infections that can lead to death. Before taking ibrance, tell your doctor if you have fever, chills, or other signs of infection liver or kidney problems, are pregnant, breastfeeding, or plan to become pregnant. Diarrhea, hair thinning or loss, vomiting, rash, and loss of appetite. Julie calls it her new normal. Because a lot has changed, but a lot hasnt. Ask your doctor about ibrance, the numberoneprescribed, fdaapproved oral Combination Treatment for hr her2 mbc. Maria welcome back good to see morning everyone. It is tuesday july 11. Here are your top stories. Present trumpet looks to wall street this morning as a Federal Reserve and the vice chairman they faced trouble getting nominees confirmed. The very latest as the white house rips democrats for needless obstruction. The details as the firefighters save an American Flag from a wildfire. A big day for freebies. The mlb and the biggest names swing for the fences. Air and aaron judge your 2017 home run derby champion. And he made it look easy. Bryce harper plans to steal the show in miami tonight. That is weighing on stocks today. Crude could fall below 40 per share. That is weighing on equities infractions. Futures indicating a lower overage. In europe here is how the industries of industries look at this morning. He did see does see a mostly lower situation. In germany the dax index is up. Markets close mostly higher with the exception of china. Now our top story this halfhour President Trump is ending the speculation the present announcing plans to officially nominate the wall street veteran is a Federal Reserve vice part. Vice chairman. The position he would also weigh in on Monetary Policy as one of Seven Members of the board of governors. The former trump transition member. Anthony, good to see a. Its good to have you back. Youre waiting on confirmation from the senate. Tell us where you are in this process right now. I am the chief Strategy Officer at the xm bank. I can argue with jason about the xm bank and the benefits. Why did you vote against it. In principle i just disagree with that. I dont think they need a propping up by the federal government. I didnt see it helping the small organizations. Ive been in for three weeks. The great team. There are 400 people there. As jason knows they make money for the federal government off of the spread in terms of their lending but it will really be up to the president to make the decision of where he wants to go directionally with the bank. I think the good news is it that we will present the president with a plan and they will make sense with that. We will see. The large or small. When some other countries on the second largest economy invest so much in propping up their companies. Should institution like this be out there trying to level it. I came up on the short end of the vote. They believe by propping up boeing who was selling planes overseas we were hurting their own domestic indices. Its sort of like what mike tyson said. Everybody have a plan till they were to punch in the place. He is a very commonsense oriented guy. And now that hes in there. They have other things related to the economy. Get your take on that for sure. On the regulatory chief. It was semi that was always kneeling the banks. It was too much. I love you randy randy i think he is a great guy. I had been on panels with him. We all recognize that that the bank need some recognition. It heads the growth. Can i make one point. This is an area where the president deserves credit. President obama went six years and never nominated an individual to feel that to fill that. The president has nominated someone has to senate for confirmation to do the job he was excited to do. He is actually from utah. Oren is the finance committee. They will help assure him through. As a great background the treasury already. How long did you spend in washington. Why is it so difficult to get things done. Ultimately it always goes to the idea that its not just democrats fighting with republicans. Do you think the former colleagues understand the ramification. Maybe lead to an impeachment of the president as well. I know thats what they wanted. They wanted that before the president was even sworn in. It just shuttered the discussion of it. Republicans and when we got the house said to hate luck we can play defense. In the promise to the American People is actually getting things done. Theyre on the clock to bigger things. The health care and tax reform. Those are the things that had to happen. There is a lot of competing constituencies. You can Say Something about that but lets just not the case. The untold story of the one that has never been really revealed is when they got rid of the earmarks and the bills that they did not want to vote for. It doesnt require debate. We dont actually vote. That is frustrating to me. Why did the senate not vote. You have to get 50 members to get on the same page and we can actually solve this healthcare problem. It is too easy for us editor to say im out on this one. A lot of legislation has come up failed. Up for renomination. You know the president. I said a six or eight months ago. I think in general theyve done a very good job. Youre recognizing what the skill sets you need around you are. A lot of people think she would be out. The president has been critical of the fed. But you think there are more common thoughts . One of the most common sense oriented people. If you read that. If you listen to janet and what shes trying to do she intersects with the president s ear. What happens with you and cnn. They came out with inaccuracies. Heres what i would say. The story they head about me was completely false. Its very defamatory. This is a hundred Million Dollar lawsuit waiting to happen did you say that . That got blown out of proportion. Im learning how to play the game here in washington. I dont like it. I think a doll trump junior well had to use the same tactics and skill set. It is complete nonsense. I dont like my 80yearold parents saying ive done something wrong when i have it. I went very hard on that. Its why i accepted their apology. They issued an apology. Thats good enough for me. Ive never really been a journalist i just played one on television. And know how hard it is to get the stories right. What makes a course correction like that. I want to be a gentleman. Anthony, good to see. Firefighters are caught on camera saving an American Flag. The stunning pictures we will bring them to you when you come right back after the short break. Then i have a real treat for you today. Michael awesome. Potsch im going to show you a next generation pickup. Michael lets do this. Potsch this new truck now has a cornerstep built right into the bumper. Gary super cool. Potsch the bed is made of highstrength steel, which is less susceptible to punctures than aluminum. Jim aluminum is great for a lot of things, but maybe not the bed of a truck. Potsch and best of all, this new truck is actually gary all laughing oh my. Potsch the current chevy silverado. Gary im speechless. Gary this puts my ford truck to shame. James ill tell you, i might be a chevy guy now. laughing its are and whereing to know you come from. I didnt know a lot about my personal family history. And through ancestry it brought us closer to understanding where i came from. Finding out that im part native american and that i was related to one of the Founding Fathers i think has brought me closer to feeling more patriotic, definitely, and also feeling more like this is my home and this is truly where i came from. Im jamie and im the fifth greatgranddaughter of benjamin rush. Casper makes one perfect supportive and comfortable. Premium foam layers. Breathable for airflow. Perfect rebound, plus perfect lift. Pick your size, you get 100 nights to test it out. Test the layers, be a layer, casper. Welcome back lets take a look at markets this week. We have janet galan on the hill. The markets are fractionally lower. Earlier this hour early this our earnings of a dollar 50 share were above expectations. They are closing below 10 per share. The stock was dragged down. It has ended plans to sell itself. They are up wanted to thirds percent. Officials say that the Missile Defense system has since successfully shot down a target over alaska. The growing nuclear program. Two improving the systems maintained by the u. S. And allies. The u. S. Military already turned away from that. Theyve a long way to go before it is going to be a reliable system to protect our nation. Take a look at this inspiring photo. Firefighters in california rushing into flames to save an americans flag. They had been battling a Massive Wildfire in that area since last friday. That fire has destroyed at least 37 structures so far. Jcpenney is losing its chief financial officer. He joined the retailer three years ago he is stepping down. He will remain there in an advisory role through august seventh. Jcpenney revamping its loyalty program. They need to make it easier for customers to earn free merchandise. The chain is expected to start sometime. Jcpenney down 45 percent. So far just this year. The 90th birthday of the slurpie. Get this as well. Chickfila is celebrating its annual cow appreciation day. A sweet animal. If you dress like a cow. Dress like a cow. Save the cow. The cow costumes. I cant even tell you. Bryce harper headed south for the new shoes. The clever name for the limited edition cleats. [music] who i want to take you to bermuda, bahama who i want to take you. Fidelitys active trader pro can help you find smarter entry and exit points and can help protect your potential profits. Fidelity where smarter investors will always be. Welcome back. Major League Baseball game allstar game on tonight. Jerred max with all of the highlights on both ends. Aaron judge 25 years old. 6foot 72802 pounds. The baseball home run leader. And make make some athletes wonder maybe i could hit home runs like that instead of maybe being an offense of lineman. All rise the judge is provided presiding. They traveled at least 500 feet. 513 feet. The judges still have nearly two minutes on the clock. All in all they have the baseballs that flew 3. 9 miles. Im a rookie this is my first time doing it. For me i have no expectations. Im just to go in there and have some fun. And see what we can do tonight. It was a blast. I enjoyed every minute of it. In miami on fox. The National League with the boston red sox. Unless youre the white sox. You remember crockett and tubbs. This is bryce harper. Its called miami bryce. Check out these kicks from under armour. He will be wearing them in tonights allstar game. It looks like that cherry slurpie actually fell thats what it looks like. Jason is obsessed with the slushy this morning. I wont wear those cleats. I think theyre pretty cool. I think they are cool looking. Its appropriate for tonights game. It does make a lot of money. You can wear them to the allstar game. Floyd mayweather said he gave the irs 26 million in 2015. Its amazing that they are saying lets wait until after this fight and then i will have money. Where is that money. How is he was he explaining this. That is his game i dont get it. Where is all of that money. His argument is everybody wants a piece including the irs. Thats his take exactly. He took to the Facebook Page to vent about the trouble. Everybody just wants to be a part of the money may show. You can crunch numbers all day but in the end the empire is rocksolid and intact. How come he doesnt have the money to pay taxes. Its a boxing match. You can catch is sports reports. Will take a break when we come back. One startup hopes the rain will stay away. With the details next hour with mornings with maria. And hey, unmanaged depression, dont get too comfortable. Were talking to you, cost inefficiencies and data without insights. And fragmented care stop getting in the way of patient recovery and pay attention. Every single one of you is on our list. For those who wont rest until the world is healthier, neither will we. Optum. How well gets done. So new touch screens. And biometrics. In 574 branches. All done by. Yesterday. Banks arent just undergoing a face lift. Theyre undergoing a transformation. A data fueled, security driven shift in applications and customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Hello, mr. Deets. Every Branch Running like headquarters. Thats how you outmaneuver. Welcome back. It is tuesday july 11. Your top stories right now 7 00 a. M. On the east coast. They are taking on overall. Senator ted cruz has warned that for his colleagues. For seven years republicans had promised the voters if you elect us the one thing we said is we will appeal obama care. As it i think it would be catastrophic if we failed. The new numbers show more people are going in. A plane crash killed 16 people on board. They were aboard that marine corps flame. Blamed for another death and the car was not even in motion. Cabela and its shareholders will vote on the takeover offer from past pro shop. Its actually making managing your money tougher. What you need to know coming up. That is wayne on stocks a bit. We are sitting right now at 44 06. The is wayne on equities a bit. The major indices look like this. It is down three quarters of 1 . Its up a quarter of a . They are mostly higher. There are some pretty good june auto Sales Numbers that come out. The other major averages up as you see there. All those stories coming up this morning. The former House Oversight chairman. The Global Economic senator is here. Great to see you. When it says its going one way or another it start thinking about the other one. Its going all the way up to 200 the next move you saw. It was going down by 30. Will see about that. The other stories in the news this morning. Jason, we are happy you are here. What he said was absolutely right. Republicans promised the voters time and time again they would get it done. Im anxious to see what this new proposal would be. I think the senator probably spoke the most truth. More than 50 times i voted to repeal obama care. When it can actually get to the president s desk they did not put that bill up for a vote. Its very frustrating and i think thats where Middle America get so frustrated with politics. When you actually had to be working on an agenda that you can advance. I was told as chairman that we were going to frontload the first two weeks of january because we he wanted to have a Health Care Bill on the president s desk by the time he was sworn into office. Did not even come close to that. Sender paul had a point. Lets repeal it. It doesnt gravitate towards actual dates when there is a deadline the actual wait until the last date. But that is one idea. If to get 50 people. In the United States senate to get on the same page. And thats what were talking about right now. The second try on Health Care Bill. They are now planning to roll out an updated version of their bill. By the end of this week. And bring it to a vote on the floor next week. Heres what john cornyn had to say about this timeline with foxbusiness. Wednesday we will have on this type of bill we will have a vote. Unlimited amendments. An opportunity for people to offer other suggestions. Its important to get this done and get it done soon. Next week is my expectation. We are greeted by healthcare protesters. It comes as a major new a survey survey finds that 2 million more americans became uninsured this year. Thank you so much for joining us. A pleasure to be here. All the other ones are through. Thank you sir for that. They are aiming to have a new report by their proposal next week. Is this doable. Do you see it happening. The challenges if what they are going to offer up keeps changing. They have to keep analyzing it. They need time to do it. If the language settles. We ought to be able to see something by early next week. I just dont understand the process why we cant get something done. We had eight years of promises of getting Health Care Reform done shouldnt be much more straight forward. When you get into the practicalities of actually doing is incredibly hard. They expanded coverage to more than 20 Million People. The folks who benefited from it are aware of it. People are sympathetic to that. And making changes is really hard. They are really using those and saint the 24 Million People are going to lose insurance. A lot of this is about how the results are being framed. There is always a framing game. I think when you look at the 22 or 23 million folks that would loops coverage. The majority of that is for medicaid and the senate bill it would be 15 million of those. I thing its hard to frame as a choice issue. And these proposals out there it would make it much better. How it has expanded in the last several years or is it just included a lot of people that really should be there. This is a great issue that people have different views on. The goal was to expand it to folks that didnt have coverage before. It is someone who is single who didnt had kids. But not necessarily below the poverty line. Nineteen states had decided not too. I want to ask you about that. There are a lot of people out there who wonder if he should even exist. The forecast are forecasts are often if not always wrong on the budget that the numbers are being spun on how many people will lose healthcare what do you say to those people that they have a theyve a problem with that themselves. I think it plays a vital role in our budget and fiscal policy. You need some you out there that is good to be the best to analyze what implications are. And do put some numbers on them so that people can understand the tradeoffs that we face. There always is the alternative that the executive branch has enormous resources they could put out their analysis by their professional staff. You can see what they imply. What about the criticism. Theyre wrong often. It is more noise than anything else. How do you respond to the critics. As they either said prediction is difficult especially about the future. Clearly of the models are going to be wrong. Everybody should stipulate that up front. I think they are incredibly useful for framing the tradeoffs. They make clear that if you want to save money by rolling back subsidies folks are going to lose their health insurance. You can have a debate about whether that is appropriate or moral. Lets talk about the issue of pensions. A group of 25 teamsters they had pensions there meeting today with a second terry. As to understand what the issues are to help start guiding the administrations to think about what they should be going forward. Clearly there are some challenges and private plans. If youre looking ahead which the administration ought to do. We need to think more carefully. We will do that. We breaking news we want to report. They have only confirmed 4895 president ial nominees. We had been weve been talking about the obstructionism this morning with the former oversight committee. The Trump Administration has been slow to come up with ideas as well. They are trying to slow down all of the nominees. You did see Walter Schaub who is in charge of the ethics group the that has to review these. Before the senate can go through that confirmation process but they insist on 30 hours of debate for each nominee and what you see is eating up that. I want 30 hours on this. It is republicans who run the senate. They could slow the process down but they cant stop it. When they insist on 30 hours when they come in on monday. That is more than a day that has taken is taken on just that one. It doesnt get reported and thats where the president and making a very valid point. See. So the question for you is are the American People going to hold them accountable. It very well could happen. If things are done and they continue to be disappointed. Everybody is just resisting. Thats not appealing for anyone. Whoever is running the place is going out. At least 16 people are dead this morning after marine plane spiraled out of the sky. And then one step closer. It inches closer to a five and half billion dollar deal. [music] welcome back a military plane crashed killing at least 16 people in mississippi. Cheryl with the story now. The marine corps went down in that soybean field. Late yesterday afternoon. The governor is saying in the statement our men and women in uniform risk themselves every day to secure our freedom. The flight originated from cherry point North Carolina. They are trying to find out what caused that crash. It looks like it might have been a malfunction that happened about 20,000p however. Honda has confirmed another death. And 81yearold man in florida died last year. He was working inside of a 200100 accord. Using a hammer. This would be the 12th of death in the u. S. Caused by the faulty airbag take on a has filed for bankruptcy. They have a tentative deal and its actually owned by a chinese company. It has already been approved by antitrust. The successful sale of the financial units. They could ask its 40,000 its 40,000 employees and nearly the 200 stores. And here is kind of a idea that didnt work. A chinese umbrella dash mike umbrella sharing startup. It was called the umbrella. They are still in business. With the investment of about 2 million. They also ask them to rent umbrellas. And you get it for 30 minutes. The company though it doesnt charge you. There is a unreached turned umbrella fee. Not good when all of the products get stolen. Coming up the growing threat to the infrastructure. They are doing in the Nuclear Power facilities. New Energy Secretary rick perry on deck. Life really was simple back in the day. We have the list back in a minute. I am totally blind. And non24 can make me show up too early. Or too late. Or make me feel like im not really there. Talk to your doctor, and call 8442342424. Wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong insurance company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Okay now were talking about generation z this is the generation that is more likely than millenials to actually buy Luxury Brands. Tracy with the details there. That is anyone born after 1995. Theyre more likely than millenials to buy Luxury Brands and this is according to a new study out from in market. Generation z is set to become the prime time spending demographic. It is actually over indexing at mall based stores the big retailers like target and walgreens are doing poorly with this group indexing 15 lower than the average foot traffic in other businesses. Anyone born from 1980 to 1994. Appear to be that frugal generation. There is a clear trend among this age group. With food four less coming in on top as a number one retailer for the millennial age group. It suggests that they choose this because of their experiences during the Great Recession while generation z seems willing to pay for the extra upscale brand. In hopes of attracting their buying power at an early age. Where are they getting the money from. They have more disposable income i guess. Mom or dads credit card probably think about what their pain on sneakers. The trend now is 30,400,000 sneakers. Thank you. Gone is the day of simple money management. It has brought out a whole new set of financial problems that were not seen half a century ago. The four big problems that americans are grappling with. I want to bring in this financial expert chris hogan. And how should americans be tackling these new 21st century financial problems. I think we have to tackle those with our eyes wide open. I think with Credit Card Debt those did not come on the scene until the late 60s. I advised people to just avoid those things like the plague. The interest you pay as a penalty. Dont penalize yourself be aware. Lets go through some of the other ones though. Something like Cyber Security that wasnt something that people were thinking about it wasnt anything people thought about. With the internet and all types of cyber purchases our information is out there. With 16. 4 Million People in 2016 have Identity Theft issues. If someone doesnt compromise your identity this Restoration Service make sure they put things back like they were. It is a totally different day. I think americans are really confused right now. The cyber cut threats that are out there. We are seen people have more saving rates now. There is a big difference on how people are behaving. The one thing that hasnt changed is saving for retirement. Back in the good old days as i would call it your pension it made companies. You didnt even have to worry about it. If the make sure that youre responsible for your financial future. That is why we have the 4o1k so that is on the individual to make sure youre taking advantage of these tools so you have money to spend later in life. If youre 20 and 30 years old out there. What is the one piece of advice you head for the individual to prepare for life 30 or 40 years down the road when you want to buy a home or retire what is the one thing that you should be doing or thinking about doing right now. I think understand how your decisions today impact your future. In regard to the financial future pursuit but will put ahead now. It can grow. And when it comes to buying home we all know by now home is the American Dream but too many people go into it and they get emotionally attached and end up overspending on a home which can turn out to be an american nightmare. Are coming up with a ira. People did not save enough money. I do worry about that financial illiteracy of our Younger Generation. Everything they do on their phone. I dont know what your scene but how do we teach this new Younger Generation about financial literacy. I think its very important for parents to sit down and have a conversation. We talk about big issues with kids as a grownup. And something they will interact with for the entire life. We understand if you dont understand how money works you are going to get taken advantage of. The parents had to start planting the seeds on that but youre right there are no classes there arent enough literacy skill training areas where kids can understand the value of the dollar. Thats why i think it starts at home. Protecting the nations power grid coming up. About how his department is fighting the growing threat of hackers. And then moving the need needle forward. Bringing the brandnew tune to the music revival. Threequarters of what it takes to replace it. What are you supposed to do . Drive threequarters of a car . Now if you had Liberty Mutual new car replacement™, youd get your whole car back. I guess they dont want you driving around on three wheels. Smart. With Liberty Mutual new car replacement™, well replace the full value of your car. Liberty stands with you™. Liberty mutual insurance. baby crying slow jazz music fly me to the moon and let me play bell ringing audience cheering mr. Kansas a mr. Kansas a. Maria i am Maria Bartiromo it is tuesday july 11 your top stories right now 7 30 a. M. On the east coast. Our Nuclear Plant targeted authorities are warning hackers are taking aim at our infrastructure, including Nuclear Power plants, and the u. S. s electrical grid i will break down the threat of Energy Secretary rick perry coming up next, think you got a raise think again outrage Los Angeles School board increases pay by almost 200 , yeah, that is real. It is not easy being green why o hermit foregoing losing voice, success on record two millennials using the past to tune into the future this is pretty, pretty good. Lets go around again. Its fun. Fans rejoying details of hbo announces larry davis big tv return, we will tell you about, a bearish outlook on oil this morning from Goldman Sachs that is weighing on oil as well as equities, look at oil now below 44 dollars barrel goldman says oil will break 40 dollars a barrel near term equities futures indicating a lower opening for brejz dow industrials down 18 nasdaq down 6 in europe this morning the indices are mostly lower exception of germany up a fraction, f2 100 down almost 1 in london, in asia overnight, markets closed o mostly higher with exception of china, about a best perform hong kong, hang seng up 1 1 2 . Top story right now this half an hour the Security Threat to americas power sources, the Fbi Department of Homeland Security issuing a report that says hackers are targeting key infrastructure, in the United States, including Nuclear Power facilities, as of now there is no threat to public safety, but lawmakers are looking for answers about the risk to the tower plant, joining me right now fox business exclusive is Energy Secretary rick perry congratulations to you, obviously this is coming as Energy Department gears to up release longawaited electric grid reliability wloort can you tell us about the threat to nuclear facilities. Obviously, it is real ongoing, and we should not be surprise, when you think it the world that we live in today, whether it is people trying to steal information about an an individual, off the net different groups they maybe statesponsored they may just be people who are criminal elements, involved with trying to penetrate into certain areas, the good news is the department of energy, which is the only agency of government that is actually statutorily sector specific directed to protect the grid we have substantial resources and we have been working on this for a long time i want to give people comfort this isnt something just come out of the woodwork we have been following working on it for a long time for instance, the Idaho National lab, has a full out grid in idaho where we work on infesting if you will a grid to see it how you detect how you protect, that is the goal that is the charge that we have the department of energy, so when you couple that with five of the 10 fastest super exercises in the world belong to National Labs department of energy oversee i want americans to feel very comfortable that we are doing Everything Possible to be able to protect their information but, more importantly, to be able to protect the about electrical grid from those that would try to penetrate in to do harm odor mischief. Mr. Secretary lets talk about priorities as secretary of jrj factualing during commercial break about the nuclear of this when you look at where france is in terms of its Nuclear Capabilities as relates to energy, it is obviously much higher than the u. S. , we have not approved this in so many years. Why . Why is the Overall Energy outlook from your standpoint will it include nuclear. Well, lets get up above 30,000 feet and a take a look quick, and that is that the world is really changed in the last decade, because of shale gas the United States, now has the potential and i think will very quickly not only become Energy Independent but we will become energy dominate we have the first lng shipment sent into poland netherlands last 30 days every country i visit that i talk to, whether it is ukraine whether it is japan, you go around the world, and they want to purchase american lng and or american coal a change particularly over the last 8 years, of the Previous Administration not interested pushed american fossil fuels you look at canada north america, excuse me canada, the United States, and mexico, in a north American Energy strategy this region of the world incredibly important i am headed to mexico tomorrow to meet with my counterpart mr. Cold well the president of mexico, to discuss this issue, of how we create a partnership in north america and make this region the dominant energy priored in the world with obviously United States key player in. I am glad you brought this up i want to talk to you about this there is a column in the the wall street journal today by James Freeman who is regular on this program, a one of the oped writers he writes about a congressional committee, seeking answers but russian ties to energy companies. Freeman says that he is raising questions about Hillary Clintons public and you private positioning on fracturing but let me read you one line to this he says, the the it is clear that russian is funding u. S. Environmental groups in effort to suppress our domestic oil and gas industry, specifically high drawl fracting what do you know about it should not surprise anybody corporate espionage going on when you think russia china a lot of businesses have direct links back to their government so the idea that there are people trying to manipulate to put propaganda out about a particular type of fuel, that doesnt surprise me has been going on for a long time we need to be very to have about it we need to be so is if indicated how we deal with russia with china they are the those are our come possesstors we know that they may play with a different set of rules we need to be smart enough to identify the reason cyberskrurt work at Lawrence Livermore a program called bro, a technology a tool that Companies Like amazon, apple, cisco all of those big corporate entities use this technology out of department of energy we are going to continue to be on leading edge of this protects different sectors particularly Energy Sector you asked about nuclear we are going to make nuclear cool again i tell folks not only want to talk kids into going into this field but, also, looking at all of the advanced reactors for instance that you know there are companies out there that are doing fascinating work, energy one of them on traveling away reactors weve got other companies that are working on small modular reactors, the real change in the world making sure that we have technical supply chain working young people that are coming into the field so that we have the expertise. For 30 years basically let nuclear sit there atrophy. You say we want to make nuclear cool again how do you do that . How are you expecting the nuclear part of the Energy Business to change in the next five to 10 years. Well i think we will see a transition away from really big Nuclear Plants like we tried to build and have built in the past. Partly because of the cost drivers, to the smaller type of reactors that substantially more nimble ways in the marketplace from securities standpoint particularly cost standpoint being able to deal with waste i look at french the french every doing this, and have been for decades, building very efficient plants able to deal with waste in an appropriate way, if the french can do it surely the United States can compete in that market as well. Let me i will be watching the developments there, i know our audience car is about that, but back to the russians have established elaborate scheme funnels money through Shell Companies in bermuda do you expect treasury Stephen Mnuchin to a gift this. Absolutely steve very capable very focused business individual who knows that this type of activity has got to be you know got to be investigated got to be halted. But, again, i go back to we should not be surprised that there are people trying to manipulate the market out there, it has been going on forever, happened inside United States when you know coal are veries natural gas maria this is ageold type of propaganda we need to be smart enough capable enough to stop it. Maria lets talk coal for a second you visited West Virginia last week focusing on coal what did you make of the trip what did you learn tell us about coal, and whether or not you can revitalize this area of energy. Well, the real issue here is the appalachian area, not just coal, but if you are in pittsburgh standing over the maricela shell over the utica formation massive amounts of coal i visiting a plan in long view West Virginia, a highly efficient low emission plan one of the most effective plants in the world that is using West Virginia, pennsylvania coal. So there is a real future for coal in the country from standpoint being able to dwell unreasonable source going to last for snurs not just decade but cent release. Joe manchin, senator kapieto as well leaders of that part of the state who understand democrats and republicans that the future of that region lies with energy and i think of you are going to see just in the future clear evidence of a plan to be put in place to revitalize the economy, of that entire region not just West Virginia but pennsylvania, ohio kentucky, an area that is really taken in it chops if you you will from the last administration, and he hopefully, you know, four years down the road we look back we will sigh o that is how you revitalize a region using their energy resources. We know you have a big agenda we will watch the developments thanks so much. You are welcome. Good to see you, sir. Sends her best. Thank you so much right back at her thank you rick perry joining us coming up l. A. School board salary spiked 174 , yes Los Angeles School board. And then rainbow disconnects the voice is leaving the muppet after nearly 30 years back in a minute stay with us. Maria well back, members of the los angeles board of education, are getting a big payday, they are getting a raise nearly triple salary, Cheryl Casone with story. Cheryl yeah, so the Los Angeles Times is reporting that the City Commission has approved a 174 pay raise that he increases Board Members pay from a 45 grand to 125,000 dollars a year, the by comparison average teacher salary is just 75,000, the commission determined that most Board Members carry a heavy workload compensation by outside committee every five years 2012 economy blamed for no salary increase. Well, a different sound for americas favorite fraud the long time voice for kermit is being replaced. Hold on hold on there must be some mistake dont you know me . I am kermit the frog. What . No, no, wait a minute, i am kermit the frog this is a mistake i am telling you, what . Cheryl this isnt a mistake studios confirming steve familiar voice for 27 years no longer going to play, of course, kermit has been the voice since jim henson created the frog died in 1990 he will be replaced by performer matt vogel. Finally there is this. We have a sign in the if i go to room that says fitting room were not responsible for lost items. Good for you i got a sign in my office it says if somebody takes your pen you take theirs that is my sign. That is a stupidest made up sign that doesnt exist no one has a sign like this task force i dont have a sign like that i made it up for the purpose of this discussion its obviously i made it up. He is back, everybody, larry david, curb your enthusiasm returning for longawaited 9th season a fiveyear high at us hbo announce show back october about 1 with all new episodes, the network put out you a promo shows david dressed in a toga with words there you go he left he did nothing, he returned. [laughter], of course, this is you know, nod to julius cesar. Jeff gar lan sheryl heinz ted danson coming back all coming for the new season, next season. Maria big news there thank you, cheryl breaking news we want to get to President Trump just tweeted this, this morning, he is talking about the olympics working hard to get the olympians for the United States in l. A. Stay tuned the president just tweeting that out, about the olympics, take a break when we come back a spin on the vinyl o revival one claeng the way music fans find new records i want to baby you always pay your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. A Vinyl Revival 2017 vinyl sales up more than 20 , at the same time last year, two millennials tapping into this trend starting their record of the month club, and shipping over 35,000 albums a month to subscribers around the world get into this with ceo cofounder of vinyl me please matt fielder here with Tyler Barstow good to see you Jason Chaffetz joining us you are a big man. My son matt was the president of the vinyl club in high school, and totally into hundreds of vinyl. Tell us about this how did you come up with idea. Watched january 1, 2013 really the idea right around the time spotify was entering u. S. , model changing from paying for ownership a paying for access any song in history of the world available on phone as just want more to be able to own something wanted to hold touch music we love, so going into Record Stores was overwhelming we thought why not create a Community Around one record a month try to make a business out of. We exist to help music enjoy experience o explore on deeper level i think vinyl is in a world where getting a lot more digital everything online a lot more meaningful when you really love something to own it. A different sound vinyl just has that little i dont know how to describe it. Really a different sound. It really is, a sort are of texture you dont get in Digital Music technology is so good perfected to mine university detail that makes it special. Turntable usd port into technology is different mom and dad. I had a jukebox at home. How do you sign up for the service how much does it cost. It starts 29 dollars a a month, monthtomonth, you can pay it was an for 3, 6, 12 months give as a gift, there is a button to join the club. If you are who doesnt love to look at album hold it but are there enough records players out there to support this . Isnt that an an issue . They started may being making a lot more uturn another one new turn Tables Companies that started manufacturing. Demand for the retrostuff rush or is it more like, the new stuff . The new music. I think a bit of everything most records coming out day vinyl, reissued preregular basis everything available on vinyl crazy to think about it i had no idea all music pressed to vinyl it is all digital. Tower records anymore, this is the way that is going to work, good stuff. So you also featured cocktail recipes original art with records of the month to subscribers the usa about extras there are these features that you hope set you aside from competition . Is it a yeah those things are za i understand to help create an experience around the music help forfeiture intentional listening our digit your relationship with music is so shallow shuch profound art form ability to impact somebodys life a very real way trying to say hey take 45 minutes out of any month hang 00 out with friends listen to record hopefully something you can get from it. Congratulations, we will be watching, matt, and joining is there. Vinyl me please thank you gentlemen. Still ahead the secret to a longer life might be a cup of jo study how coffee can help your health mornings with maria back in a minute. Baby, baby, where did our love go . Oh dont you want me dont you want me anymore, oohh at fidelity, trades are now just 4. 95. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. And at 4 95, you can trade with a clear advantage. [brother] any last words . [boy] karma, danny. Karma [vo] progress is seizing the moment. Your summer moment awaits you, now that the summer of audi sales event is here. Audi will cover your first months lease payment on select models during the summer of audi sales event. With some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. Symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. Stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. Aggravated. Maria welcome back. Good Tuesday Morning thanks so much for joining is i am Maria Bartiromo. It is tuesday, july 11. Your stop stories 58 km on the east coast clock ticking on agenda, Congress Still working to repeal and replace obamacare as well as tackle tax reform raising questions whether lawmakers should work through their august recess. It is crazy that we would be taking a recess there are a bunch of us myself included, that have been urging Leadership Back from january, lets not take any recesses lets work, work every day, lets work weekends, lets work till we get the job zone. I am in the camp with ted if it takes giving up some of the august break, to get this done we give it up this is way too important not to look at timeline as Senate Republicans gear up to unveil this latest health care plan, coming up, breaking news this morning a military plane has crashed, in mississippi, killing all 16 people onboard weve got the very latest developments coming out of mississippi this morning, a close call on tarmac, the faa investigating a scary scene as San Francisco International Airport a plane almost tries to land on a crowded taxiway, and pepsico this morning stock rising better than expected earnings shores up a half as you see there after Company Reported betterthanexpected numbers, a brandish outlook on oil Goldman Sachs says crude oil could fall below 40 dollars a barrel, oil right now down better than 1 worsening all morning has weighed on equities as well take a look at stocks futures calling it lower opening for broader averages dow industrials down 20 points, nasdaq down almost 10, new york this morning, the indices mixed as well germany up but the others are down, ft 100 down almost 1 london cac quarante down a quarter of a percent the taxing index in germany while up off the highs of the morning. In asia overnight, you markets closed mostly higher with exception of china, shanghai composite down a third of a per kroebt there was good auto numbers coming out of china overnight in terms of economic data, all those stories coming up joining me to talk about the wall street journal Global Economics editor Jon Hilsenrath mere former annoys oversight chairman Fox News Contributor Jason Chaffetz here great to see you both. Great to be here that was an interesting conversation earlier, about whether congress should even go on break, maybe they need to stick around i think the American People would respond if they saw them working through the month of august what do you think about that. About seven months late, so, yeah who can make the case, that hey we need to take time off in august when you got health care that is o imploding insurers need to know what the marketplace is going to look like to provide products these guys go back home life might be hard rer back home having constituents yell at them the month of august. Maria that is true too. Either good it done in july you dont have to worry about it. How tough has it bin trying to get Business Done can when you dont have any participation on the other side either, democrats. Well, look the republicans own the house and senate and presidency i think the president quite frankly has done everything that he needs to do on it, but now up to the senate the house passed a bill, we passed one in the house, so you know come on United States senate get let me move for that top story investors eyeing President Trumps agenda as republican lawmakers push for repealing and replacing obamacare, overhauling taxes the senator pat toomey addressed timeline for Health Care Legislation yesterday, on americas newsroom, watch. There are people who arent quite there yet weve got a new version coming out today or tomorrow, and that is meant to bring onboard people who still have their reservations i hope well get there. Joining me House Majority leader california congressman ken mccarthy a pleasure to he sue thanks for joining us. Thanks for having me on the show. You are releasing an ad called the failure of obamacare this morning. Go ahead. Well it is very important that people know research is what is happening, you have the time that we passed the bill in the house over in Senate Another coopt collapsed only four survived 19 of the 23 given more than 20 billion dollars obamacare collapsed the faction are there we have to pass a new bill. Maria you have to pass the new bill but you had a bill, in the house, and the senate never voted on it why . Well the senate is working through it right now i think at the end of the day will look is where much like the house version, they can get the job done i know a lot of people talking about august recess, worse thing could happen in this building we give somebody a further deadline they would be the do anything until the deadline happens, lets get this done in july, stop worrying about august make it happen now three more weeks we can get it had done so you think you can get it done next three weeks he let me ask you because people are scratching heads, you went through the time, and the energy in the house, you went back, you did it twice, to go back, renegotiate renegotiate again to bring it to floor for a vote you got vote you had the bill senate comes up it says oh we are just going to start again do our own bill why didnt senate just vote on your bill . Well like look, this is the house version the senate does a version, and what is happening in the senate today looks a lot like what happened in the house an artificial deadline leadership picked we worked towards that couldnt make that day, we worked on it further then we had a week where we had break people went back to districts, they heard from constituents, to get this done you made this promise, we came back and passed it, that exactly same thing is happening in the senate, lets look what comes out of the Senate Version and i believe at the end of the day going to look a lot like the house version. Maria can you tell us why there is so much debate and fighting about the details of this bill . Is it largely about medicaid. Explain to the audience why medicaid has become problematic, why it has expanded so much, to include people that really should not be there, they issue not im youve got fraud not system a medicaid created for blind disabled pregnant we made a promise to states paid with the map 50 state and 50 federal government. Well, when obamacare came along they took people not blind disabled or pregnant they were able bodied individual up to 138 poverty, the federal government said we would pay one hundred percent and very with less 90 which governor wouldnt want that American Public that will cost you one trillion dollars in less than 10 years for one year that is how much we appropriate and entire year for government. So it is not ability to continuing to forward. We think there is a better way, to actually make medicaid solvent put it into the future, and what is better for individuals itself actually to have a health plan that they get to choose they control, we have affordability what obamacare did doubled premium remember premiums supposed to go down 2500 dollars . And the really secret here that people dont realize is if you dont have health care you pay a penalty, more people pay the penalty or take the waiver than signed up for obamacare. No one talks about what the cbo score said back then what reality is today. I think those new way of moving forward, look at affordability look at the quality what our Health Care Bill did i suspect that to come out of the senate to get done before end of agile. Maria you say you can get this done in the next three weeks, how do you see the senate coming together then . How do you see there is a lot of criticism about what is on the table right now because of what is in medicaid because of big government, and perhaps not getting the premiums down as much as he some would like . Well weve got to get premiums down look at the health and Human Service study individual market premiums have gone up 107 you now have 41 of all the counties in america that only have one provider there are a number of counties in america that will have no Healthcare Provider next year, so there is no option, republicans made this promise they campaigned on this promise. Now we have to deliver on it house has done the job, the senate has been back last week in their district in their states listening to American Public and i guarantee you they are telling them to do what you promised you would do and we can get this done. Sounds like if you dont get this done, if congress doesnt get this done, in these next few weeks it is appropriate to lose seats next year then because you are pretty sure this is going to get done, it must get done, the thing is imploding as we speak. Maria there is no option. There is no plan b then . we will get this done if you plan for b, that is what people will go we promised we could do this fine artificial care and Quality Control of individuals to pick what they want we have more control what we want at the pick in Cable Company than we do no health care we can make a fundamental difference here and have affordability premiums are lower quality care is better people have the control. What did you think about ted cruzs comments, congressman . He is talking about this august recess he weighed in yesterday on upcoming break downer hannity listen what he said got to get your reaction. People are pushing for that, are would i say folks elected in the last five, six years what i call the young turks that we have been consistently in the pressing saying look we got a job to do short window of time, and so we ought to stop taking recesses stop taking time off just keep going till we get it done. Well said. I think talking about you you were one of those young turks right . You were on cover of a magazine with your two colleagues there you were the young turks you paul ryan, eric cantor going to get things done. Well. Right . That is right when we were first in put on young guns sitting in minority, after next election we defeated 63 democrat incumbents took majority never would have won senate young guns went to the senate now the promise is that we would finish the job, the house has done the work the senate needs to do the work, dont start putting a further deadline out into the future, get it done now, they promised, that they would come back, get the scoring done listen to the senators and vote on it week after next lets do that i will promise you this you move it out of the senate we will get it out of the house and send to president s desk to be signed we can all see america is on a new path forward, and then move on to tax reform. You have spoken to this about colleagues in the senate i mean if you dont get if we dont see what you are putting out there, are you going to change your mind are you going to say object then may be we will still in washington and not go on break in august . We need to get our work done, the one thing i know about washington if you tell them new deadline is august they wont do anything in july we have three more weeks lets not waste them lets do it now. What are you going to do next three weeks to get people to come to the table . Well, in the house we will continue to move legislation, we are working on antiHuman Trafficking a number of bills moving forward in senate just meeting with a senator yesterday one of those on the fence, working with them same challenges we went through in the house helping them find a path to get back, to pass that bill that deals with lowering premium and raving the quality. Let me me. Regulates they are very close to getting it had done. You think they are very close that is good news, how close are you guys on tax reform i know you have been having meetings, and looking at it, but i know that you really cant get anything done until you you finish health care here. But is there the kind of debate going on, about health care right now that there has been about im sorry about taxes than there has been about health care. Yes, we are taking the lessons from health care, those that we could have done better applying to tax one thing that happened with health care, remember we took this up at the very beginning we promised the American Public, you are watching at the collapse of obamacare, about those the administration was just coming in tom price wasnt sworn in when we started on health care, hhs secretary. So what were finding now now the Administration Mass people in place, their coming down meeting with us, the senate is meeting with us the house is meeting together, so we are working out you differences ahead of time, but lets not look past we have to get a budget done diane brac doing a tremendous job in her Committee Going to get that budget done this pu month once fird health the mechanism for reconciliation this stems the Senate Continues to wait for 60 vote rule that is not in the constitution. A lot of these would not be a problem, if the senate simply worked by and used the majority they have to pass the current bills that we have sent over there. Maria i cante. We passed it in the house on a majority, why dont they pass it in the senate on a majority . Because we cant do everything they want, because of their arcane rules and the rule there is so much emotion we we would like to do hipgs on Senate Senate Health Care Bill done we move right on to tax reform, which is if we want to solve so many problems in america we need growth, for too long last eight years we have not had much growth in this country just moving up one or two percent will increase the income, to the average american, and actually the number of jobs out there more than a million if you increase by 1 . Why we want to see you get this done i know our audience does as well congressman you mentioned, Human Trafficking act one of the bills that you are working on this week tell us about it. Well, we got the federal Frederick Douglass reauthorization three bills moving this week we have done 13 another one training the Labor Department to actually what to look for more than 20 Million People are being trafficked every signing year across the world this is happening in other places outside of United States alone this is happening at every single district jason can tell you about it every District Across america, this is happening, and there is a place that we need to stop it weve got an administration that has engaged in this in a bipartisan way i have bone to a number of meetings at the white house ivanka trump worked diligently on this a Bicameral Group together senators republican and democrat the house nonprofits out there as well we worked as one, and really stopped the individuals from being being about trafficked trained individuals on how to treat them. Of course, we all agree on that we will be watching the Development Thanks so much for joining us this morning. Always great to be can you. Good to so a see you Kevin Mccarthy there we will be right back. Stay with us. Maria President Trump is tweeting this morning, tweeting about the marine plane crash in mississippi. It killed 16 Service Members Cheryl Casone with details. Cheryl that is right maria just actually tweeted this, that marine corps refueling tanker went down in rural mississippi why i had afternoon the flight was ovrjtdz from cherry point North Carolina here is what president tweeted marine plane crash mississippi he heartbreaking melania and i send deepest condolences to all we add investigators trying to find out to what caused this trash happened about 4 00 pm yesterday even time hundreds of people part of that investigation, all right, hundreds of people in new york, we should say attending new York City Police officer familiar wake yesterday gd andrew como mayor de blasio i among attendees officer shot sitting inside her vehicle gunman was killed by Police Funeral service to begin day 10 00 a. M. Eastern time here in new york city. Well the faa investigating a close call at San Francisco International Airport it happened around midnight friday air canada flight almost landed on crowded taxiway parallel to the runaway other pilots alerted air Traffic Controllers headed off potential disaster faa says four jets lined up waiting to take off at the time, the air canada plane eventually landed safely. And weve got a great reason this morning for you to pour another cup of coffee for yourself two new studying sfiend drinking more coffee could lead to longer life, first study says coffee could reduce risk dying early from any cause, inflammatory diseases, dramatically cut chance of death from digestive problems the second study one cup a day could reduce death early death 12 three couples reduces risk dying early by 18 , so maria cheers thank you. Yeah. Drink right up, thank you so much. Still 20 come a strong message to north korea u. S. Successfully tests missile defends system viefrnt impasse on tensions with hermit kingdom coming up changed brewing at one beer giant how they are saving billions of gallons every year with new technology. Gentleman staple brewing change miller cars announcing partnership with former able to reduce water usage last year 15 billion gallons equivalent of 500 million kegs of beer joining us director of Community Affairs and barely farmer bill with us good to see you both thank you so much store joining us. Thank you for having us. Bringing in malts beers to set what types of farming techs to achieve this amazing conservation. One of our largest goals right now to try and conserve as much water as we can but still raise a really good crop for miller coors doing that in last five years we have really cut back probably 40 on the amount of water that we need to use. And this is done by putting in center permissive irrigation all technology. What are big sprinklers do how do they produce the crops for without extra water. What it does the irrigation system we can control how much water we put on at one time in other words, if the comes out tells me barely needs water i can calibrate sprinkler put on one inch in 24hour period. And we can put on that we can put that on at night, if it is really hot so we dont scald the barely, and in old days you had pipes and you flooded the ground, about erosion problems, we had to use a lot of water compared to now we can control what the exact amount on exact time. All kind of drops not jury trial barely. It does. Corn and wheat. My family raise sugar beats over 110 years, in same place. The impact to the beer business. Saving 15 billion gallons is huge feet in itself, 2016 was banner year for us a lot that contributed to it not only farming practices but a lot of issues came from our breweries as well proud of employees very passionate innovative saving water reclaiming water any little bit helps water as you can imagine extremely important to beer used about every point in process of brewing beer we care about water very, very much. Has iting affected competitive balance in terms of your peers. Sure, i think. Maria given the less water usage. I sympathy consumers are more and more looking at how companies behave. So that is why it is so important to us as well we know consumers care about this we want to be, a beer brand that consumers are proud to carry in their hands, and proud to drink. That is why were doing this, also very important i know obviously to the brewing process. When you talk in break about beer business i have been really surprised recently to see tequila well beer and wine not so much is it a diet thing people feel lower calories less sugar tequila vodka versus beer and wine. It could be diet a lot of people could say cycles so maybe in a cycle right now where beverages are more popular. Returning to are you finding that mill dwralz are i think this is generation z we learned about. Generation z. Wine. Less interested in beer more on market, there is more out there the to choose from. Where if you think back, there are there is a lot more breweries as well. Compared to when we were young, coming into the market. I thought we are coming on set to talk about slurpies. He is early in the morning. Early for beer. Somewhere, isnt it. You are announcing a blast from the past. Returning to store shelves. Everybody is very excited about this you probably noticed 90s fashion had no 90s trendy right now, and over the years we head several fans reaching out to us on social media, elsewhere saying bring zema back we have the opportunity to do it said where not, so far consumers retailers reacting well. Great. Excited about it. I want to ask you about agriculture and about farming, when you see the Trump Administration about talking about Small Business talking about policies that are going to impact do you feel it could impact your life do you do you want to see anything specific from this administration as relates to farmers. Yes, maam, and one thing you have to remember today, only 2 i think 2 of the farm population right now is feeding over 160 people in the world, we need to keep agriculture profitable and right now our Commodity Prices are very, very low. So hopefully somebody can come in, and bring the prices up for farmers can actually make a good living in a you need prices to go up. Yes, maam we do. Leave it there, good to he sigh you both thank you so much we will be watching confronting north korea threat u. S. Successfully he tested Missile Defense system in alaska overnight response to latest drill, we are breaking down soda giant earnings next back in a moment. Potsch then a real treat for you today. Michael awesome. Potsch im going to show you a next generation pickup. Michael lets do this. Potsch this new truck now has a cornerstep built right into the bumper. Gary super cool. Potsch the bed is made of highstrength steel, which is less susceptible to punctures than aluminum. Jim aluminum is great for a lot of things, but maybe not the bed of a truck. Potsch and best of all, this new truck is actually gary all laughing oh my. Potsch the current chevy silverado. Gary im speechless. Gary this puts my ford truck to shame. James ill tell you, i might be a chevy guy now. laughing im Maria Bartiromo tuesday, july 11 your top stories right owe 8 30 a. M. On the east Coast Health Care battle he raging on senate reputation to in avail a new plan later this week, will it go a anywhere . Tragedy in mississippi, a military plane has crashed killing all 16 people on border, authorities are warning residents to stay out of the area, as they investigate the case of this crash. We dont want nobody out there. We have fuel everywhere, so we dont want anybody without responding in the area, or around in the area. Details on investigation, coming up this morning, pepsico beats the street breaking down numbers after the Company Earnings topped expectations, sending stock up a third of a percent right now, less than pictureperfect run concern for investors after stock blows below ipo price for the first time if you like it put a ring on it smart jewelry could help you do everything, oil prices Goldman Sachs this morning weighing on stocks, goldman says crude oil could break 40 dollars a barrel sitting so close to 44 dollars a barrel right now. And that is almost down 1 , weighing on equities though to look at futures indicating a lower opening for the start of trading this morning, dow industrials down 10 points nasdaq down 10 appoints as well, in europe major indices like this, this is life k ft 100 down three quarters of a percent cac quarante down a quarter of a percent in paris dax off a fraction asia overnight markets mostly higher exception of shanghai you had good auto Sales Numbers, coming out of china this morning as a result some of the market was up but shanghai composite overall down a third of a percent, New York Times, is reporting donald trump, jr. , was offered russian government assistance to help his father win last years election, now a lawyer for the president s real time evidenced season it take to back blake burman good morning to you. Reporter particulara good morning to you as well of ported email raising more questions about june 2016 meeting between donald trump jr. , Jared Kushner Paul Manafort a return attorney New York Times is reporting this morning that in email donald trump, jr. , was informed by person who brokered neither with Natalia Veselnitskaya that quote the russian government source of potentially damaging information times reports trump, jr. , was informed material quote was part of you a russian government effort to aid his fathers conditionedcy in response to that article, the Democratic National city said in statement quote it is final for donald Trump Family Team to stop lying come clean about tacts with russia what they knew about kremlin effort to help them when they knew it at the white house yesterday resiliented once again that there was never any collusion they say, between Trump Campaign, and russia. I think i have been very clear our position is that no one within the Trump Campaign colluded in order to implement the election, i think the bottom line is that the democrats had a weak candidate President Trump had stronger message. Donald trump, jr. ,s attorney just told fox moments ago basically this is much ado about nothing saying Natalia Veselnitskaya was not a Government Official didnt have information on Hillary Clinton, and that when conversation turned u. S. Law regarding sanctions, that trump, jr. , said his father was a private citizen not Government Official in interview with nbc news this morning as well veselnitskaya denied that she had any connections to the kremlin said she didnt have damaging information on Hillary Clinton however also claimed Trump Campaign officials that quote it is quite possible that maybe they were longing for such an information. Maria democrats and republicans now here on capitol hill want donald trump, jr. , to talk with Senate Intelligence committee and i has said that he would cooperate. Back to you. Maria we will be watching developments tragedy breaking news out of mississippi officials investigating a fiery marine plane crash believed to have killed all 16, witnesses say kc130 transport aircraft cork screwed out of sky a slammed into soybean field 85 mile north of jackson authorities sifting through debris this morning, of course, fivemile radius joining us fox news military analyst general jack keane good to see you thanks for joining us. Good to see you. Maria word on cause your reaction . Well, hearts go out to families to be sure lives will never be the same i have always said having dealt with this all my life, we have non combat related defendants lose people every see are strumentsz of war dangerous in peacetime as if war and combat here, something object catastrophic happened to lose control as describing by witnesses we can only speculate at this point, they will get to the bottom of it exactly, what is the cause of that crash. Of the but it certainly tragedy to be sure secondary explosions couldnt put fire out because ammunition going off also not surprising on military airplanes weve got ammunition onboard. For sure Jason Chaffetz in the house. General, talk about the a infrastructure that we have how delap dedicated planes are we dont know the cause of crash yet but some planes are 50, 60 years old, what is your view of how dilapidated infrastructure is. In terms of United States military what happened to Us Soviet Union collapse in 91 we stopped building new things, then n when 9 11 came, we focused on the 9 11 war to be sure a light infantry wars put money into that, so it has been a long time before we have been able to invest properly in military xairnl last time reagan buildup years a lot of airplanes, ground vehicles, ships truly aging out, the airplanes are older than people that are flying them in many cases, this kc135 is a case in point one of the oldest airplanes that we have service aging equipment to get on with modifying out of inventory replace it maria you said we were together, a couple months ago, in interview, general, you said to me that was it 30 . Of our planes in the navy are they are not flyable . Close to 50 actually. Then some Services Higher than that, what it is we dont have enough spare parts to keep the planes flying, so what they are doing is they are cannibalizing other airplanes to keep some planes flying that is obviously taking down, more airplanes, so and when you have fewer airplanes flying, you are putting more stress on those fewer number of airplanes guess what happens they have memorabling problems you find yourself in kind of a death spiral in terms of your equipment running this, that is where we are. That is very dangerous, actually, general i am grad you pointed this out so long ago our viewers know it going into this this he fatality this morning, i want to turn to war on terror irrack Wisconsin Army finally driven isis out of mosul after months of fighting terror group former stronghold this morning President Trump tweeted this out big wins againsties general keane, do you agree with that tell us where you see the fight right now. Well yes certainly, i mean isis invaded iraq 30,000 fighters in 2014 took us nine months, United States to president obama to finally get onboard help iraqis, we saw that whole iraqi army flee in the face of of isis because that was not the same army that we had trained back in 2007 so successful during the surge, maliki literally destroyed it political hacks in charge we had to rebuild that army last couple years yeah, a big vierth retaking second largest city in iraq but isis is not defeated they took a small town 40 miles south of this yesterday, they will be able to conduct little bit attacks in rural areas villages they will be able to continue to do terrorist operations, and they have expanded in the 30 countries, still out there, motivating inspiring people to kill her own citizens comprehensively this is good for iraqis hats off to millionaires who have helped them there general townsend one of the best operational consumers commandeders we have had we have get to bring down that haven as well. Good victory for iraqis how does iran fit i into this, iran is an enemy of isis, too, does this victory at all strengthen irans hands does it look at reach across ish ak, into a syria lebanon . That is a great question, tir rainians are dominant threat in the region not isis president said as much when he met with 55 leaders of the nation in middle east, he stood up and told them that the number one strategic threat in the region is iran, i stand with you against this threat. And the iranians are trying to build a land bridge from iran through iraq, through syria, to lebanon to mediterranean, this is key, the iranians the significant influence in iraq, ever since we pulled out in 2011 when we left with our troops, and our political influence iranians gained dramatically in influence the president facing a decision here, this war is winding down inside iraq to be sure, there is going to be pressure to pull our troops out iranians want our troops out for sure, weve got to leave our troops there post conflict to have sfoous over iranian government as we left troops post conflict in germany italy japan after tomorrow world war ii successfully in korea after korean war was a mistake to pull troops out the in 2011 we lost our influence over that government and the iranians the gained it rather dramatically, that has got to stop. Maria sounds like president understands that will will act accordingly general, of course, north korea overnight america successfully tested its antiof a black missile shooting down pro just a secondtime over kodiak alaska what do you think this means for the tensions with kim jongun regime what should be done now in terms of north korea . Well, first of all that is a greet missile, that kills that kills incoming missile in terminal phase when getting close to the ground, it doesnt deal with Intercontinental Ballistic Missile that is something we want to kill in space we have ground based midcourse Missile Systems to do that in alaska, and also in california, but the Trump Administration is doubling down on diplomatic economic sanctions where we are when were going to do moving haired. Good talking to you great insights from jack keane joining us there thank you so much still ahead deals primed and rd Stuart Varney weighs in on amazon prime day big day, back in a minute. Welcome back another Tennis Channel Court report for fox business, out of wimbledon 10 time champ beaten five set thriller. From two sets down, and four match points before mueller closed out 1513 after four hours 48 minutes on court. Venus raced into elite , 13th time at arlington clun american in control, moving on with 3 and 2 win over the croat. 4 pm earnstern on tennis channel. Maria pepsico shares on move this morning stronger than expected seconded quarter earnings not all good for the giant the Nicole Petallides on floor of the New York Stock Exchange looking at markets. Good morning. We are watching pepsico did beat on top and bottom line earnings and revenue beat the street we are hearing from the conference call, at this time, as well. And trying to give some optimism with that they said they can take pricing will take pricing one area helped pepisco through this latest quarter in fact beverage volume dropped fritolay quaker was flat but the pricing that helped them through the quarter, ultimately, and so we are seeing it right now, slightly to the downside, this morning. The other factor is people are not going through center aisle spending more time in produce aisle meat not center aisle you have seen the it backandforth up a quarter of 1 snap the big deal Morgan Stanley cut down to equal weight from overweight slashed target down to 16. 28 worry about snap that not improving still has instagram against it, advertising struggles dont forget snap had ipo more than 20billiondollar company big deal biggest ipo since alibaba in 2016 pretty slow for tech ipos 2017 actually has surpassed the year, below ipo price, this is a 17 dollar ipo went up to offer of over 29 bucks now below. Not end of snap analysts reiterate when facebook had ipo dropped below ipo price took a year to get out of that, but a great example how sometimes ipo price got to break below it before moving higher. Maria we will see about that one i know if it is snap and facebook are za will the same story but nickel thank you. We will check throughout the idea investors eyeing amazon ecommerce giant kicking off big day of deals amazon prime day joining us to host of Varney Company Stuart Varney toaway in i assume you are a customers customer. I am not let me explain myself we could at the in 11 minutes time with delays over Health Care Reform, or idea that white house is going to deliver tax cut plan tell so senate to pass it could have led with that i am going to lead with amazon i think most important financial story of the day, maybe even of the year i think the most Important Company in the world. Breaking new ground for you Ashley Webster next to me looking askance of this nonethelesses that is what i think they vented a new shopping holiday, it is huge, the stock is approaching 1,000 dollars per share. The Company Worth almost a half trillion dollars, jeff bezos founder is worth getting off 80 maybe 85 billion dollars, if amazon goes to 1,000, the impact of this company is felt far and wide, maria did you know the department steers are talking about discounting cosmetics high profit area because of competition they know from amazon, they are cutting prize of cosmetics that is level of impact okay. Maria they are about to dominate the food market, you know delivery out of whole foods incredible what amazon has been able to do i totally agree with you number of prime members almost the same number of tv cable subscribers. Incredible, see you five minutes thank you so much Stuart Varney top of the hour and we will be right back. Credit card information house keys about to be wrapped around your finger husband and wife team launching token a ring completes mobile payments protects, joining me the cofounders of token, i just tweeted out a picture of me wearing the ring youve got the ring on. Identity resigning lets you put credit cards passwords car keys house keys on it, and everything is done with several pass of your hand. You said like 80 Semi Conductor chips. How does it work you said works on cars, and you can how does that work . Blue tooth, anything that blue truth locking a car knock twice will authenticat you lets say i go into whole foods one bass contented of goods how does this work starbucks whole foods. Simply anywhere where apple pay is accepted, you just put your hand over reared it does transaction so the same to goenized credenshal. Security you were showing us only works on your finger not every finger. What if you lose the ring. This is really important, so obviously credentials on one thing a fingerprint scanner on inside if you take it off doesnt work just a fees of jewelry so long as you are wearing it we know you are wearing it. Can you use it for tracking put it on kids to track what kids are doing. Not yet so actually but you can if youve got chips in there 84 of them components people can track where you are all the time. Rings not broadcasting all time like phone gives out a signal, you always need to perform a gesture until hand over reared doesnt turn it on. Cool. How did you come up with this idea. We very much believe there is a huge problem with authentication why we get hacked consumers dont do anything not convenient. A great idea we will be right back final thoughts. Welcome back, final thoughts, all star panel. Jon hilsenrath. And testifying on the hill. Maria tomorrow and thursday . Tomorrow and thursday, and signals an end they wind down the Balance Sheet and Anthony Scaramucci was here earlier and he thinks shell get renominated. Maria congressman chaffetz. Theyll have a bill and pass it a week or two after that. Maria thank you so much. That does it for us. Tomorrow, same time and same place, stuart, over to you. Stuart thank you very much indeed. Ill take it, maria. The most important financial story of the area is staring us in the face. Its not health care, or taxes, no, its amazon. Good morning, everyone. Amazons prime day is going full tilt and everyone in retail is feeling the impact. Outside the retail business, theyre still all feeling the impact. Amazon is one very big and very powerful company. Prime day has become a new shopping holiday right up there with black friday. There are 79 million prime members, almost as many as cable tv subscribers. Today, they have access to big discounts on tens of thousands of items