With Top Republicans in the roosevelt room, his feud with freshmen congresswoman is intensifying. Well bring you any headlines as they happen at this hour. Big tech under fire on capitol hill. Lawmakers taking shots at executives at facebook, amazon, amid fears the Silicon Valley giants have too much power. Democrats on the campaign trail in iowa. The 2020 hopefuls making their pitch to voters on health care and drug prices. Joe biden is even bringing back a familiar promise something that former president obamas lie of the year. Why would you do that . Ashley i dont know. Well get no that. Doesnt seem to make sense. We have fox Business Team coverage. Gerri willis on the floor of the new york stock exchange, phil flynn as always watching oil at the cme. Edward lawrence, Hillary Vaughn covering numerous tech hearings on capitol hill. Lets begin with gerri willis, all the days goings on on wall street. We thought we could finish on another record high. Didnt quite make it. Didnt happen. Were down 24 point. Still well above the 27,000 level, 27,334. This morning all about bank earnings. Three big banks reporting earnings for the second quarter. Guess what . Double beats for all. As you can see stocks reacting very differently. Jpmorgan chase boosted by an income tax benefit. Wells fargo cant get any gain despite a double beat. Falling on lower net interest income. Goldman sachs raising the quarterly dividend. Everybody likes that. The stock is up 2 . J j double beat on top line and bottom line. Investors worry about the outstanding issues about talcum powder, cancer risks and opioid issues. A big lawsuit out against j j on opioid issues. That company is one of few fighting back instead of reaching into their wallet and paying off ags. Finally Dominos Pizza beating on eps, missing on revenue. A split decision there. The shares down on worse than expected samestore sales, important in that business. Delivery service, cost of that, when you figure in grubhub, other Delivery Services cutting into their profits as well. So lots of positive earnings. We were expecting a very weak earnings quarter. Lots of strong earnings. Investors not necessarily believing it. Back to you. Ashley gerri, thank you. Melissa jamie dimon seeing positive signs from consumers saying quote, we continue to see the positive momentum with the u. S. Consumers, healthy confidence levels, solid job creation, rising wages which are reflected in consumer and Community Banking results. Bring in todays panel. Gary kaltbaum from kaltbaum capital management. He is also a fox news contributor. Adam johnson, bullseye brief author. Thanks for joining us. Thanks, liz. Melissa what do you make of this . I love it. Jamie dimon is absolutely right, thank goodness for the u. S. Consumer. Businesses are not spending. With all uncertainty around trade involving china. Cfos basically held up on capitol expenditures. Theyre not building inventories, but good ol American Consumer is out there. Employment is highest ever been, theyre spending and that is what jamie dimon is talking about. Melissa rising wages, gary, that is what jamie dimon said. He is looking at consumers that have the healthy evident, best Balance Sheet than they have had in very long time. You have a strong stock market. You have people with jobs, much more johns than they have had in many years. They fell wealthier. They will tend to spend. Everything is in decent shape. I really dont have very much complaint. The biggest story for me of the last week, the transports, industrials, economically sensitive areas are being bought up in droves by big money on wall street making a bet the economy may be starting to reaccelerate a little bit here which would be good news. Melissa definitely would. Dont move, guys. Ashley stay right there. Zooming in on facebooks cryptocurrency libra, lawmakers not holding back, grilling the tech giants crypto chief david marcus today. Lets get straight to Edward Lawrence live on capitol hill with the latest. Edward . Reporter he is the he had of colibra, facebooks cryptocurrency arm. Libra was in the hot seat today. Both republicans and democrats had serious questions about facebooks failings, specifically over privacy concerns, how the company can start with this project with all the issues out there . Foreign interference, privacy, extremism, fake news, which ones have you fixed . For instance, senator, the issue that happened back in the day with cannot happen again. Not which ones have you made significant progress, have you fixed any of those . I say all of them will always require a great deal of work. Reporter senator john contend did replaced truthful reporting from their cite, i will not use the expletive he said but basically crap. He has trouble trusting it, running part of a global currency. Yeahs the russians tried to disrupt the election through facebook but they only spent 100,000 and they only ran 3,000 ads. That was a lie, wasnt it . Im sorry, senator . That was a lie, wasnt it . I dont believe it was. Well later facebook admitted the russian ads reached 126 million people, didnt they . Senator, i believe that the people who enanswered that question at the time answered to the best of their knowledge at the time. Reporter the head of facebooks colibra, david marcus says they will follow all government regulations to make sure libra is safe to use. They will move slowly to implement the currency and hopes to connect people with 90 million businesses facebook interacts. The company will have 100 partners with not one with a majority. There will be more hearings as their questions were not fully answered. Ashley a lot of fire. Owed ward, thank you very much. Melissa what could possibly go wrong, facebook heading that. Over in the house, facebook and google getting grilled over the antitrust concerns. Is this the first wave of hearings by congress into big tech . Hillary vaughn on capitol hill, is it just building, hillary . Reporter melissa, all the Companies Making their case today, they do have competition, they went so far name drop some of those to lawmakers. Facebook or google saying they compete directly with amazon, yelp, microsoft and travelocity for competition in search. Facebook saying they compete with snapchat, skype, tell gram, youtube, ticktock. They offer video and messaging services and connect users to each other. That is their direct competition. Amazon listed alibaba, kroger, other Grocery Stores as people they are, companies that they are competing directly with. Even when it went further to explain why, brickandmortar is their competition. The notion that two products exactly the same, do not compete with each other, simply because one was ordered online and one was bought in a brickandmortar store makes little sense. Reporter facebook was asked about killer acquisitions. The idea theyre purchasing apps and startups to shut them down, Facebook Says anytime they purchased a startup, acquired a app, months later shut it down because some acquisitions dont work out and they discontinued those products because of sound legitimate business judgment, for no other reason. Melissa looks like a good buy, all of sudden not a good business, interesting. Hillary, thank you. Ashley well bring back gary, adam. Let me begin with you. Listen on a antitrust level if consumers are not being hurt is there an antitrust case to be made here . Are these Big Tech Companies i guess squashing the competition to the detriment of consumer . If you cant prove the consumer is being disadvantaged or like the europeans like to prove, competition is not being disadvantage it is pretty hard to make the case i will say the following, think about it, for a moment, what if amazon were forced to split up, separate awf, web services from retail. My gosh, what opportunity to unlock value. I dont like to see government interfering in Wonderful Companies that change the world but you know what . In this case they could do wonders for my p l. I would buy amazon on that news. I would love to own aws separately. Ashley gary, are the companies too big . They make the argument there is plenty of competition as you heard in the sound bite. Hey, you buy something online, buy it on brickandmortar what is the difference . I find it thrilling that a bunch politicians that i would not let run a Lemonade Stand dictate Success Stories like these companies. Theyre after them because they are successful. It is amazing to watch. Oh, you get too big . Well cut you down to size . Amazon, has created this magnificent company. Look, amazon prime is invited other retailers, guess what . Lower costs for consumers. Facebook, google, is free. I dont understand any of this. Look there are problems with some of these companies. They do need to fix, facebook got fined 5 billion by the ftc but enough is enough. Leave greatness alone. Ashley leave greatness alone. Well leave it right there. Thank you, gary. Melissa oil settling down more than 3 today. Phil flynn with the details. Phil . Melissa, significant potential Bearish Development for oil. Donald trump basically came out today, President Trump, and said that theyre making progress with iran. That was backed up by a statement by secretary of state mike pompeo who basically came out and said that iran was actually open to talking about their missile program. If you remember the original Iranian Nuclear deal, it didnt really include missiles at all, it included uranium enrichment. This could be a potential gamechanger. When the market saw that headline, they sold off. They realized in past anytime iran gets off the hook it has been very bearish for oil. The original obama deal to lift sanctions on iran caused a big selloff in oil. When donald trump granted waivers on iranian oil last object, that caused a big price crash, so the market is very nervous. Having said that the market has to be on guard. This is the very beginning after negotiation. A lot could go right, a lot could go wrong. The other thing inventories will come out later that could be big. Melissa phil, thank you very much. Disney heiress abigail disney, granddaughter to walt disneys brother roy, she was quote livid after going under cover at disneyland to see worker conditions. She claims employees are struggling to make ends meet. Gary, adam, this story is so strange to me. Why do you think she is doing this . What do you make of it . Her last name is disney. Last i looked i think she would have some influence. Why not call iger up and talk to them in an Office Without castigating disney out in public . I dont get this whole thing. Disney is one of these great companies, does so much for the employees, im here locally with these people. They do so much for the community, fill philanthropy i couldnt begin to start how many good things they are doing. She castigates them in public. That is so stupid. Sit down with them, try to fix it with them. Melissa adam . Fix it quietly, live in era, everybody has a platform. Everyone has a platform. There are no editors. Guess what you make a name for yourself . Oh, youre just a granddaughter you inherited a lot of money. Wow, if you went out said, i want to do something for the small guy. All of sudden youre a hero. Everyone want as platform. Melissa all right, guys, thank you. Ashley interesting. Very interesting. Doesnt seem to hurt the company but nevertheless. Tale of two strategies you could call it, why billionaire investor peter thiel sounding alarm on a democratic candidate he says poses the biggest threat to President Trump. What he says could backfire on the rest of the crowded field. Well talk to James Freeman of the wall street journal next. Melissa plus a familiar phrase on the 2020 stage. Former President Joe Biden taking his health care pitch to iowa voters. Critics say it is the same faulty promise dealt by president obama. Ashley hmmm. The battle of the best deal. Amazon prime day leaving hundreds of retailers fighting for consumer attention. What the crowded stage could mean for the ecommerce giants reputation in the spotlight. Thats coming up. With sofi, get your credit cards right by consolidating your Credit Card Debt into one monthly payment. And get your Interest Rate right. So you can save big. Get a nofee personal loan up to 100k. Dto experiencer gthrilling performance. Now, at the lexus golden opportunity sales event. 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Ashley breaking news, President Trump right now meeting with republican congressional leadership in the roosevelt room. Blake burman at the white house with the latest, blake . Reporter ashley, another busy day at the white house, President Trump reminded once again as it relates to china, the potential of a trade deal with china, all good feelings coming out of that the g20 meeting in osaka japan at the end of last month between him and president xi very much in the rear view mirror. Earlier in a Cabinet Meeting with his cabinet team at the white house, the president reiterated he has the ability to go forward with the biggest batch of tariffs to date. This comment moved the market. We have a long way to go with china is concerned with tariffs. We have another 325 billion worth of tariffs if we want. Were talking to china about a deal, i wish they didnt break the deal we had. We had a deal where china opened up. Reporter the president also echoed concerns from peter thiel, the billionaire tech investor said over the weekend, that the fbi and the cia should investigate google to see if it is infiltrated by chinese intelligence. I would like to recommend to various agencies, including perhaps our attorney generals who was with us, to maybe take a look. Its a big statement. When you say that that google is involved with china not very positive way for our country. I think well all look at that. Reporter i reached out to the department of justice, ashley, they declined to comment about the possibility of a investigation into google. Also reached out to the company itself. They said in a statement they are not working with the chinese military. Ashley never a dull day. Thank you, blake. Melissa peter thiel revealing which democratic hopeful worries him the most . Take a listen to this. Im most scared by Elizabeth Warren. She is the one talking about economy which is only thing i think, the thing that matters by far the most. I think almost all the others are equally unimpressive because they are identity politics. Melissa warren is fully embracing the label, responding with the comments, simply good. Joining us James Freeman wall street journal and fox news contributor. What do you think about this assessment . Do you think she is the most dangerous one from the perspective she is talking about the economy, pointing to things that people would be dissatisfied with from a financial perspective . I certainly think if you look at polling the fast riser in recent weeks is Kamala Harris. Elizabeth warren taken a lot of Bernie Sanders vote. People on the left have trouble differentiating between sanders agenda and Elizabeth Warren. That is strategy worked to hold down the far left base. I think peter should relax a little. I think a big flaw in the warren message, like the bernie message, it hasnt really changed at all in years. It is basically describing the obama economy, slow growth. Wages not rising i think democrats to be dangerous on the economy probably have to reckon with the success in the last few years and explain why they have a better alternative. Melissa because, so if you are a math or numbers type person, you point to the fact wages have risen. If youre Bernie Sanders or Elizabeth Warren, were fighting for 15, when the minimum wage goes up, which republicans are fighting against, all wages go up. You have to give a bump to all workers, that sounds like wage growth to people not p