He wants pelosi to cancel the august recess of the he will explain why. All that, so much more on making money. So the economy grew at 2. 1 in the Second Quarter. That was well above official estimates at one point. The question is the driver . The answer is allmighty american consumers, flush with better jobs, higher wages, robust confidence, in fact the president tweeting, q2 up 2. 1 , not bad because we have the heavyweight of the Federal Reserve anchor wrapped around our neck. Almost no inflation. Usa is set to zoom. Lets bring in moodys managing director, chief economist, john lonski, Fox News Contributor liz peek, manpower group, becky frankowitz. What do you make of it . The highlight was gain by real Consumer Spending up 4 1 2 . It probably wont continue. As you stated earlier, not only the u. S. Economy, the World Economy owes a deep sense of gratitude to the american consumer. I dont think well see Consumer Spending contract in a man theyre might bring about the nearness of a recession anytime soon. Neil liz, on the note, Government Spending was huge as well. Federal spending up 7. 9 . Nondefense spending up 15point the. That leads up to the debt ceiling budget drama. The pros and cons to it. It certainly helped the gdp report this time. That is not where we want growth to come, charles. The disappointment, i agree with you, fed tracker from atlanta, new york fed, had much lower numbers than we ended up with, but we dont want the boost to come from government. It should have been coming for businesses. It has been flagged for many month that businesses became concerned about trade wars. One element not getting enough conversation in my view what is going on in the rest of the world. Once again europe is stagnating. Only the u. S. And japan are improving their prospects at this point. It isnt just a fed rate hikes. Not just Business Uncertainty about the trade tariffs. It is rest of the world not pulling their weight. Neil i spoke with wilbur ross this morning on varney company, you know also had a observation but one of the things that showed this number down. It is despite the problems in transportation equipment. As you know boeing has been sidelined on the 737 maxes. That probably took. 4 of a point off. So it is really, it is really better than the numbers even said. And that will come back in once those problems are solved and those planes are delivered. Charles so essentially saying we could have been at 2. 5 . You talk about a knockout number. Becky, all this as we continue to see for the most part employment numbers are pretty good, wages have momentum, and is that going to continue . Because the consumer is 2 3 of this. A lot of this newfound confidence of spending is based on success of the employment picture . Absolutely, charles. So we continue to see unprecedented opportunity in the world of work. At manpower group, our clients telling us across industries. Our intention to continue to hire. That what were seeing on consumer confidence. Charles Federal Reserve surveys ask how you compensate for increased demand. 1 3 say hire more, 1 3 retrain, another third not sure. So were seeing more commitment to the up skilling in the last two months, charles than the last two years. Were very concerned about wages but the opportunity for upskilling for people to get a chance and learn and earn for future skills for future jobs. Charles speaking of fed, harry kudlow giving expectations for the fed rate cut. He spoke with gerry baker on wsj at large. Widely expected cut rates, whether quarter point, half court cut. With would you like to see . I will say the market is expecting three, 25 basis point cuts between now and yearend. That is the market. My own personal view, the fed is independent, i will not preach, they will do with theyre going to do and so forth, i would just say the sooner the better. Charles so, john, we heard from mario draghi. They didnt cutrate but he says well use unconventional tools. Well buy more bonds, maybe other things in europe. He complained about the same thing the fed complains about. Still a lot of people on wall street are not getting it. The fed is not worried about anything but the inability to arrest drifting inflation. Thats right. We have very low rate of inflation. Core inflation in the Second Quarter is up 1 1 2 annually. The target is 2 . They havent been at 2 quite some time. The worry if you cant get inflation 2 during economic recovery, my goodness what will happen to prices, what will happen to wages when charles new york fed president williams brought up, yet we know we dont have a lot of arrows left in the quiver. That is why we should us as many as possible . I think he is exactly right. You have to really supply, hopefully a strong, positive shock to the u. S. Economy. If it seems to be losing its footing. Charles right,. That would strengthen the case for a 50 basis point cut. Charles speaking of a shot to the economy, liz youre not fan of tariffs, bin investment is lower, that is more ip and brickandmortar stuff, what kind of shock to the system could get wet if we get positive news on that front . I think it could be very dramatic. I dont mean look, everything you read from the nfib, the Small Business organization, the business roundtable, everybody, all the surveys, what they really dont like what ceos dont like is uncertainty. How can you plan Plant Construction and your supply lines if you dont know what youre relationships will be like with other countries. We need to pass the usmca. We need to figure out this china thing, even status quo sort of indefinitely. We need certainty here, charles before we see business investment, which is key to productivity, key to wage gains. We need to see that increase. Charles ip part has done very well. Liz, john, becky, thank you very, very much. Appreciate it. Upbeat earnings pushing the market higher. Alphabet shares up amid higher ad sales and growth in the cloud business. Twitter uptick in daily users, watching ads. They call it monetizing. Amazon shares are lower after record run of earnings come to an end. Something tells me it is temporary condition. Jeff bezos dont care about share price. His focus is world domination. We have jackie deangelis, and rob luna. Jackie, listen, i think the numbers are phenomenal weve seen so far. They are. Even the weakest link, amazon, one of the reasons they missed they reinvested 800 million back in the company. Bezos said in order to grow and deliver what we promised users the one day delivery, we need facilities in check. We, top of this. Aws, that is the shining star, future. Charles that is the cloud business. The cloud business. Growth was 37 . A little less than 41 than we saw previously but still charles getting more competitive there. Google for first time i notice bragging about their cloud business. Before i go to rob on the investment part of this, technology accounts nine billion dollars, up 25 . Fulfillment, 9. 3 billion, up 17 . Marketing up 48 . Amazon spent the money to build the empire. Theyre not worried about minutia and quarterly stuff. I wish more businesses were like that. The stock is taking a hit, a lot of analysts say buy it on the pullback. There is Growth Potential there. This is valuable company. It will come back. That is the general consensus right now. Charles rob, your thought here . Google is up. They made money. Their costs went down. Amazon stock went down because they spent money and costs are up. Who has it right . Julie said it right. Amazon is almost a trillion Dollar Company growing the top line by 20 . 37 on 30 billion in aws trailing growth, chars. You said it always. This company is focused on world dom faith. This is down after a longterm run f youre a long term investor, i would not get worried. This stock we owns seven or eight years. Whenever the it gets negative on aws, negative on amazon you have to step in as an investor. Charles speaking of negative, there is idea of increased government scrutiny. There is talk about antitrust that hurt facebooks stock. It was up 12 bucks. It has been down seriously since then. How serious should investors consider that . I think they need to consider it. It is something that will come down the pike, it will be important to all these companies. When google tells you they have 90 of search in the United States, it is not really surprising that the department of justice may look into anticompetitive practice. When you look at stock prices overall, seems like at least for the timebeing they seem to be brushing it off. Just looking at this, saying it is part of the process. Technology is relatively new. There is no regulation there. Seems like republicans and democrats agree there should be. This is how the companies will grow. Charles the bottom line, rob, this will cost the companies, whether you call it a good oldfashioned shakedown or they dismantle them, but a at some point it will cost the companies more money than the five billion dollars facebook paid already. How do you take that into account with the market . Thats a little bit difficult to quantify exactly what that is going to be, charles. The 5 billion is a slap on the wrist. The stock rallied to that. This is concern you have to look long term. Going back self years microsoft faced they came away pretty much clear of that. After investors, these companies, amazon, google, changing the way the world is made. You have to own these stocks irrespective the fierce. Charles my 6yearold granddaughter, watches youtube videos. All her friends do. I will never sell google stock until she gets 50 years old. Make one final point . Were still waiting for apple. The only real miss was netflix. That is core to its business because there is more competition. Tech overall seems to be doing very well. That is what is lifting up the market. If we saw trouble spots here i would be worried about it. Says a lot what is happening out there. Charles thanks very much. I very much appreciate it. Mcdonalds at alltime high. Report much better than expected global sales. The best global sales in 7 years the Worlds Largest ham burrer chain, 6 1 2 in sales overall. Globally u. S. Didnt do bad either. The mobile merger is finally official. Charlie gasparino has details on it. Mobile and sprints megadeal. Congresswoman Rashida Tlaib brings up nazi germany pushing for a israeli boycott. Nancy pelosi amid reports of tensions, can pelosi get her party on the same page. Has she already lost complete control . Cant see what it is yet. Re . What is that . Thats a blazer . Thats a chevy blazer . Aww, this is dope. This thing is beautiful. I love the lights. Oh man, its got a mean face on it. It looks like a piece of candy. Look at the interior. This is nice. This is my sexy mom car. I would feel like a cool dad. Its just really chic. I love this thing. Its gorgeous. I would pull up in this in a heartbeat. I want one of these. That is sharp. The allnew chevy blazer. Speaks for itself. I dont know who they got to design this but give them a cookie and a star. Charles shares of sprint ant tmobile up, after the department of justice gives approval for the 26 merger between the two wireless carriers. Charlie gasparino, breaking news over and over. He joins us with the latest. I have got to tell you. Yes. Charles intriguing they are up as much as they are. I feel at some point they were going to happen one way or the other . It was, how can i say it, our Long National nightmare is finally over. This story, ive been reporting this story out for three months. There were times when it looked like the deal would happen next day only not to happen. Its a complicated deal. Much more than a doj settlement and Consent Decree which approves the deal. It is actually the doj involving itself directly in the creation of a third Wireless Network. Fourth wireless carrier comes out of this. Should put up dish stock. Creating that fourth wireless carrier, you know it was a tortuous process. Number one, sprint and tmobile wanted to merge to be strong not have another competitor. They didnt want to give up too much of their spectrum to create dish too much of a competitor. You needed guaranties from dish, they would go through with this. With the spectrum buildout a Wireless Network and not, not essentially sell itself, fattened up with spectrum to Charter Communications or comcast which would really be a competitive threat to tmobile sprint as they combine. You had to put all of that together. Plus, this was a story that lydia moynihan, my produce broke last night, did yeomans work on this tracking it down from the beginning you were facing opposition from some states attorneys general, mainly democrats. The Justice Department last minute last night, delayed the deal one more day so they could get some attorneys general joining the Consent Decree, that they wouldnt sue. They think that bolsters the case to allow this thing go through as other state ags sue. This will be in the federal courts this is complicated, from a legal, from a technical wall street standpoint. It is also, listen, there is a Public Policy aim to allowing this to go through. I should point out we were first to report that the Trump Administration, the president himself, his chief economic advisor, larry kudlow. Others inside of the white house. Particularly on the National Security side. Wanted this deal to go through. Why . They think from an economic standpoint, having dish, tmobile, sprint together, is basically a Stronger Company to compete with the chinese on 5g, which is essentially going to create, if they believe, millions of jobs, lots of gdp, actually be a National Security issue for us that you know, listen you can use 5g for spying. Why would we allow the chinese to get a foothold in the technology . Put all that together. Deal legitimately with antitrust issues. Eliminating that carrier, you have at t, verizon, now the combined company with sprint tmobile, they eliminated antitrust issues, that created a fourth smaller carrier. That is why this is insane. A lot of reporters, rip and read. Lydia moynihan went out there, reported it out kept us ahead of game particularly against cnbc and bloomberg it was a big story for consumers an. Charles National Security. National security. Charles you and lydia, congratulations. Were glad the Long National nightmare is over. Well move on to the next big challenge. Bitcoin. Stuart well talk about on monday. Charles see you later man. Latest budget bill from the house. This despite growing number of republicans who voted against President Trumps compromise. I will be joined by one of those. Congressman chip roy. After weeks of public friction, nancy pelosi sits down with aoc of the latest from capitol hill plus reaction and the woman running against aoc here in new york. As a doctor, i agree with cdc guidance. I recommend topical pain relievers first. Like salonpas patch large. Its powerful, fdaapproved to relieve moderate pain, yet nonaddictive and gentle on the body. Salonpas. Its good medicine. Hisamitsu. Charles Speaker Nancy Pelosi and the squad leader, congresswoman alexandria ocasiocortez, meeting today amid public friction including charges of racism and social media warnings. Hillary vaughn is live on capitol hill with the latest on that meeting. Hillary. Reporter charles, house Speaker Nancy Pelosi is getting her house in order before heading out for summer recess. She is embracing differences in her Democratic Party by embracing congresswoman alexandria ocasiocortez who has been a ringleader, pushing a Progressive Agenda on pelosi. Today theyre looking forward to moving forward. The speaker comparing their inner Party Squabbles to sibling rivalry. I would never even say it was a hatchet, we sat down today. We had a good meeting. The congresswoman is a very gracious member of congress. So we had a very positive conversation. Again, it is like youre in a family. And a family, you have your differences, but youre still the family. We just had a meeting to clear the airport port the meeting lasted around half an hour. The reporters asked alexandria ocasiocortez if she felt like pelosi respected her opinion in the meeting. Alexandria ocasiocortez said absolutely. Sorry, were running to a meeting. Looking forward to [inaudible]. Reporter pelosi posted their meeting on twitter but ocasiocortez who frequently uses social media, she live streamed herself making popcorn last night, hasnt mentioned anything about the meeting on social media. Charles . Charles that could be ominous. Thank you very much. So todays meeting happening as amazon reportedly scouting new york, looking for new office space including the Historic Building that formerly housed lord taylors flagship store. They abandoned the hq2 deal that she helped torpedo. That is big reason shari murray is running against her as pub. Thanks for having me, charles. Charles i saw there was a tweet, when you went out to aoc when she won. You were congratulatory seemed thrilled she was winning. What happened . What changed so dramatically, that you have to come to challenge her . Charles, when she won the seat, we were all happy that she ousted Nancy Pelosis top lieutenant, former congressman, joe crowley. That was the congratulations tweet i sent out. I want to make the record clear today, thank you for the opportunity to do so. Im in this race we need to unite the fight in washington, d. C. We see the rhetoric being spewed on a National Level by aoc it is dange