meanwhile federal reserve not even thinking about raising rates now. fed chair jay powell saying the current economic down torn is the most severe in our lifetime. warning containing covid is essential to protecting our health and the economy. big tech in focus all reporting today, their earnings after the bell, ceo's grilled on capitol hill yesterday about anticonservative bias, business practices, privacy and china. highlights from the fiery hearing coming up. markets this morning pointing to selloff at the start of trading. take a look at futures indicating decline 216 points right out of the gate, s&p lower by 28. marks rallied yesterday following federal reserve decision. the market was up 160 points don oh dow. the nasdaq up 140 and s&p up 40 points yesterday. unrest in america with violence in major cities. and the nba tipping off today, players taking to court in bubble at disney world with empty stands, we will check it out. the ceo of fanduel is here on how the virus is impacting gambling, mornings with maria is live right now. global markets this morning red across the board, take a look at european indices. cac quarante down 51 and the dax index in germany lower by 289 points. we have a selloff underway this morning. the german economy shrinking record 10.1%. that's second quarter due of course, to coronavirus shutdowns. we will get to gdp for the u.s. in asia markets mostly lower, worst performer was hong kong market, hang seng down two-thirds of 1%, major indices flat overnight. some of the top stories that we are right now another round of talks on new stimulus bill set for today with no compromise in sight. >> we are still very far a part on a lot of issues. i do think there's a subset of issues that we do agree on but overall we are far from an agreement and the president is focused on the issue of unemployment. maria: republicans proposing a second round of 1,200-dollar checks for americans making less than $75,000 a year. democrats want to extend the 600 weekly unemployment benefit while republicans are pushing to cut that amount to $200 a week. house speaker nancy pelosi rejecting president trump's support for short-term bill if the two sides cannot reach an agreement by tomorrow when enhanced jobless benefits are set to expire. well, the u.s. reaching another grim milestone in coronavirus pandemic surpassing 150,000 deaths now leading the world in deaths and cases in the united states 7 states reporting a record-number of deaths in a single day yesterday. all members of the house of representatives now required to wear a mask while on the floor after texas congressman louie gohmert tested positive for covid-19. attorney general bill barr was tested after being with gohmert. barr tested negative. the president toured an oil rig in midland and promise today put america first when it comes to energy production. the president also doing fundraising during the trip. federal agents are now expected to begin leaving portland today as city sees 63rd night of unrest. the trump administration and oregon leaders reaching a deal yesterday to withdraw agents after accusations of excessive force used against protestors, operation legend deploying agents to milwaukee, cleveland and detroit. fiery hearing, big tech on the hot seat facing tough questions on subcommittee all virtually in washington. ceo's of amazon, facebook and google grilled about competition and alleged political bias. the tech giants asked about science technology theft. facebook ceo mark zuckerberg the only one to see problem well documented. president trump weighing on twitter saying he will take action on big tech if congress doesn't. well, investors are awaiting key economic data this morning. futures are down ahead of gdp number. first estimate coming later this morning. the numbers expected to show record-breaking decline, 34.1% contraction in the last quarter. initial jobless claims hitting the tape this morning. the number of americans seeking unemployment benefits possibly rising for second week in a row this morning. joining me to talk more about all of that investment adviser jim, along with the conversation, joining the conversation fox business dagen mcdowell, forbes media chairman former presidential candidate steve forbes and strategic partner president and ceo mark tepper. great to see everybody this morning. thanks so much for being here. dagen: great to see you. maria: let me kick it off with you and expectations, we have earnings as well is economic data, what drives markets this morning? >> my expectation we will get the grim economic report, the markets know that not just for weeks but months. we also think the big tech earnings clearly are going to help this market either propel a little bit more, regain the losses that we see today as we make our way in the year. this is a market request fear continues to be pushed to the backseat based on a lot of hopes relating to medical data. from our view medical data matters more than economic data, it's the foundation for sustained rebound from where we are. remarkable rebound over the last handful of months to the point where i hope investors are not getting complacent. maria: what about the earnings today, we've got dow component proctor&gamble this morning which we are waiting on as well as cigna and we have technology giants on the hot seat yesterday, apple, amazon, google parent alphabet. what has been your assessment of earnings you've seen so far and what to expect tonight? >> we expect to see tech continue to exhibit strength, we expect to health care continue to exhibit strength, tailwinds of the pandemic as opposed to other sectors who have been hammered by it. we don't see anything in the medical data to suggest that the trends, consumer staples, tech, health care are going any time soon. for those looking on the value stocks side of the fence saying their valuations are dramatically cheap that they are raging by, we are not buying that. we still think it's a value trap, we still think you can let tech winners run so long as counter balance by defensive bull works, bonds, we like to have reserves in portfolios, we are seeing evidence that gold which obviously has been gaining dramatically momentum here is also tactical models are intrigued about. maria: all right, you want to have a little exposure to gold while you're having exposure to the market as well as having some hedges. let me get to mark tepper, what do you make of all of that, mark mark: today is a big day, four to have biggest five companies reporting. when you look at five biggest companies in s&p they make up 20% of the s&p, as go the big boys go the market typically but what's interesting to me is that the market has been resilient. i mean, we are within 5% or so of hitting all-time highs despite all of the economic speed bumps we have been hitting with economic reopenings and rolling them back and then the big boys have been stalling out, so you look at performance of microsoft, facebook, apple, netflix, google, they've all underperformed the market since july 1st yet the market continues to grind higher so that is pretty impress i have to me. i agree with what jim said. i don't think there's a lot of value in just buying the index right now. you need to look for specific opportunities. maria: of course, we heard from the federal reserve yesterday giving the markets a boost, steve forbes, what your take on that. chairman jay powell said the central bank will not raise rates leaving them near zero, powell added that the path to economic recovery is coronavirus response. we are talking about zero rates, steve, until 2024 at least? >> pick a date, maybe 2124 with the way things are going now. the mention of gold, that's moving up. inflationary pressures, the weakening to have dollar it would be interesting how the fed responds because usually they try to slow the economy when they see signs of that. they don't have that option this time. i think there's more turbulence ahead than the markets realize in terms of what's going to happen with the dollar. maria: jim, what do you make of that, any surprises from the federal reserve yesterday in. >> no, the fact that they are towing the line of not even thinking about raising rates until 2024, certainly there's a lot of concern that the fed has to fend over weeks and months not just quarters and years and we know market rebound ask -- is effectively based on furlough, stimulus, those are weak legs for any economy, any market to stand on. what we are thankful for the gains that we have received, we think our job will be extremely difficult safeguarding gains on a go-forward basis even as we will remain selective in terms of adding opportunities not just domestically but certainly in europe which is absolutely beaten down for mainly for the right reasons but also globally with familiar to china and small, mid-cap stocks in merging markets. maria: all right, we will leave it there. europe, the valuation is a different story in europe relative to the united states. good to see you, thank you, sir. jim lowell joining us there. next hour rick scott to talk about the latest of the coronavirus and the stalled stimulus plan and florida congressman matt gates joining us on grilling on capitol hill, one to have big techs on the move. in the 8:00 a.m. hour press secretary sarah sanders talked about the stimulus talks and conservative bias in social media. then from live to virtual we are introducing you to a new streaming platform for concerts all coming up right here, but first quick break and then past due, the back rent is swelling in america as lawmakers not offering eviction relief. you have questions and we have answers. send the video questions to maria, you're watching mornings with maria on fox business. maria: welcome back, heated back and forth on capitol hill yesterday the ceo of facebook, amazon, alphabet and apple testified virtually facing tough questions from house judiciary subcommittee about antitrust, privacy, anticonservative bias, watch. >> can you assure americans today you won't tailor your features to help joe biden win the election? >> we won't do any work to politically pull one thing or another. >> but you did it in 2016. despite that you did it in 2016 president trump won,i just want to make sure you won't do it in 2020. big tech is out to get conservatives, that's not a suspicion, hunch, that's a fact. thethe power these companies hae to impact the election, what americans get to see prior to their voting is pretty darn important. >> it is possible that at facebook your employees do have the power to disadvantage conservative viewpoints. >> of course, when you have a tens of thousands of employees, people make mistakes, people have some of their own goals some of the time. maria: joining me right now the federalist senior editor christopher bedford. chris, good to see you this morning, your reaction to what you saw yesterday? >> good morning, i thought it was a good mix of questions, democrats coming out it from antimonopoly point of view and republicans bringing very important issue of censorship here. the tech ceo's, of course, managed to not answer a lot but at the same time give us interesting things. google claimed for example, that the reason why daily callers traffic through search has flat-lined, to stop election interference. that does not pass the smell test at all. seems just not true at all. we didn't see much criticism of china. mark zuckerberg was the only ceo willing to complement hauwei, spy agency for china, i was happy with the substance of the questions from both sides of congress. maria: analysts and counting company this morning is telling clients heavy criticism of big tech gives regulators cover to file antitrust lawsuits against google and facebook, do you believe antitrust lawsuits are coming? chris: i think it's very likely. there's a huge appetite for it in washington. republicans who are traditionally the defenders of big business have felt attacked and targeted by a lot of the companies in silicon valley and democrats have never been traditionally an ally for big business against antitrust. they have managed to align both sides of the political spectrum and they don't usually agree on anything on the same side against them, that usually means it's political will to get that kind of thing done. maria: all right, in this report that i'm looking at from paul, heavy criticism gives regulate ors file antitrust lawsuits against google and facebook but for apple and amazon lawsuits remain unlikely and secilini seemed to suggest that amazon can be poised for a breakup. dagen mcdowell jump in. dagen: chris, the root of any antitrust bus top is consumer benefit to consumer detriment and the wall street journal in editorial page writes about this that big tech antitrust paradox, the legal test is consumer benefit and not size and in terms of benefit i know that the federalist has experienced this that you reliant on google's ad network that they can if they see fit deplatform you, demontize you and essentially put you out of business, nevertheless the federalist and the vast majority of all online publications on this day and age literally couldn't exist without google's ad network, back in the first dotcom bubble you can't afford and hire and add sales team to stay afloat. i saw business after business toppled because of that but a site like the federalist has basically sold part of yourself and your soul to google just to exist. chris: well, the federalist would have taken a hit for sure if we were taken out of advertising network but we would have survived because we have diversity of renew at the federalist. some other sites would not survive, those responsible for google's traffic. google has thing here where they have undercut a lot of the traditional ad sellers. we used to go to new site and have an actual program that was bought by the new or bought by advertiser and looks attractive and lowered a lot faster. google would sell ads so much cheaper and using target information and foolish to buy ad campaign and that drove business out of business and it was only google. dangerous reliance they've created. you are an example of the impact. great to see you so much. chris bedford from the federalist. more of big-tech hearings as ceo's defend business practices, that's right after this, stay with us. mom? you'll get an extra 15% on top of what geico could already save you. can i call you back? your father's been researching our geneology. we're vikings! there's never been a better time to save with geico. switch by october seventh for an extra 15% on car and motorcycle insurance. hey, we lost the wifi password. do you remember what that is? now every bath fitter bathbath fis installed quickly, safely, and beautifully, with a lifetime warranty. go from old to new. from worn to wow. the beautiful bath you've always wanted, done right, installed by one expert technician, all in one day. we've been creating moments like these for 35 years, and we're here to help you get started. book your free virtual or in-home design consultation today. >> why should instagram be broken off to a separate company? >> well, congressman, i think the ftc had all of these documents and reviewed this and unanimously voted at the time not to challenge the acquisition. i mean, i think with hindsight it probably looks like obvious that instagram would have reached the scale that it has today. >> would amazon ever access and use third-party seller data when making business decisions. >> i can't answer that question yes or no. what i can tell you we have a policy against using seller-specific data to aid our private label business, but i can't guaranty you that that policy has never been violated. maria: that was jeff bezos and mark zuckerberg facing questions over business practices at yesterday's hearings. steve forbes, it wasn't just a focus on conservative bias, it was also antitrust. what did you make of it? >> well, yes and i think this underscores the fact that these companies have not been very good at dealing with criticism and not done much to get to public will. maria, in the old days, the old at&t before it went out legal monopoly went out of its way to make sure every complaint was dealt with and went out of their way to make everyone happy and these people displayed arrogance and coming back to bite them. consumers like the services they have and which is why companies do well. politically they have offended both sides and when they've had to practices they shouldn't have done they've been slow in responding to them, look liked they tried to brush it aside and they are going to get political trouble, whether it's section 230, shields them from liability on what appears on their platforms or something else, they are going to take a political hit and they brought it on themselves not because of overall -- because of overall performance but arrogance in responding legitimate criticisms whether google not allowing, having some of the lectures on youtubes, stupid things like that, they've been very, you know, as germans would say -- it's going to hurt them and it's going to hurt us. maria: mark tepper it was interesting to look at both sides because both sides of the aisles were mad at big tech and the democrats were prepared, cutting people off just as much republicans anger over conservative speech. >> yeah, that's definitely been a big problem with social media in general, but if you think about it we are fighting the wrong fight. i mean, we are fighting against facebook, we are fighting against twitter, we are not fighting against tiktok. that's the fight we should be fighting right now but with regards to the company here is the defense, am done can say they lost competitive em during the crisis because a lot of consumers are offering for curbside pickup, you have wal-mart, shopfy, all of those have been driving. facebook and google can say they have been proven to be only option for small businesses to offer services and products because salespeople aren't going door to door and apple, you know, they are under fire because of app store but as far as i could see the commission structure is completely transparent. that in my opinion is the defense for each of the companies. maria: yeah, it's a great point and by the way, both sides of the i'll have also asked the attorney general to ban tiktok. so you're right about the tiktok issue. probably not enough upset about that. quick break and unrest in portland. while the oregon governor says federal agents are leaving the administration says not so fast. we are going to tyke a look at what is happening there when we what is happening there when we come get real-time insights in your customized view of the market. it's smarter trading technology back. my name is janelle hendrickson, and i'm an area manager here at amazon. when you walk into an amazon fulfillment center, it's like walking into the chocolate factory and you won a golden ticket. it's an amazing feeling. my three-year-old, when we get a box delivered, he gets excited. he screams, "mommy's work!" when the pandemic started, we started shipping out all the safety stuff that would keep the associates safe to all the other amazons. all of these are face masks, we've sent well over 10 million gloves. and this may look like a bottle of vodka. when we first got these, we were like whoa! [laughing] with this pandemic, safety is even more important because they're going home to babies, they're going home to grandparents. so, our responsibility is to make sure that they go home safe every single day. maria: welcome back, good thursday morning, everybody, thanks so much for joining us. i'm maria bartiromo, it is thursday july 30th, let's take a look at market at 6:32 a.m. on the east coast. we are looking at pretty sizable decline, the nasdaq futures down 109, s&p futures down 30 ahead of second quarter gdp. that is expected to show record-breaking decline for the quarter. 30 plus percent contraction, jobless claims also out this morning in 2-hour's time also impacting markets this morning. we will get the negative economic data as soon as it hits the table. dow industrials were up 160 points and the nasdaq was up 140 and s&p was up 40 points. ups, stock to watch this morning, soaring on better than expected earnings, stock is up almost 10% on ubs -- ups rather. european indices down across the board with ft down and dax index down 320 points as we learn that the german economy shrinking record 10.1% in the second quarter due to coronavirus shutdowns. the economic data out of germany impacting markets there. in asia overnight markets were mostly lower, here you have fractional moves pretty much across the board overnight in asia. severe tropical storm making landfall in puerto rico. cheryl: good morning to you, isaias is ninth named storm of 2020 and what name it is, formed over caribbean sea, this storm is battering puerto rico with heavy winds and rain and expected to head towards florida this weekend. warnings have been issued for nearby islands and territories. well, shares of qualcomm soaring premarket trading, a couple of pieces of news, first company reached long-term patent deal with hauwei. qualcomm will receive $1.8 billion from the settlement. company's earnings came better than expected and company's forecasting better than expected revenue for the third quarter. here is a look at what is trending on foxbusiness.com paypal reporting quarterly profits up 86%, shift to online spending amid the, of course, the covid-19 pandemic. a home outside of phoenix arizona just sold for $5.5 million, it's record price in the community in arizona and then actress lori loughlin sold bell air mansion, she has a few legal bills to cover, those are your headlines, back over to you. maria: all right, cheryl, thanks so much. meanwhile we want to zero in on the unrest in portland, once again a large group of border patrol agents moving in overnight despite the governor of oregon saying yesterday that federal officers radioguarding the federal courthouse would be leaving by today. however, the trump administration insisting that some agents remain in the city in case they are needed and deafen the court building and federal buildings, president trump weighed in on this yesterday. >> look at the anarchists in portland. if they don't solve the problem locally very soon, we will send in the national guard and get it solved very quickly just like we did in minneapolis and just like we will do in other places. [cheers and applause] >> they want to solve their problem, they've got a short time to do but they need to solve their problem or we will send in the national guard. maria: and in separate effort operation legend the justice department will send officers to 3 cities, 25 officers to milwaukee, 25 officers to cleveland, 40 officers to detroit. the operation is already underway in kansas city, chicago and albuquerque, joining me right now former nypd detective consultant ceo pat, great to have you this morning, thank you very much for joining us. i tried to differentiate what's going on in portland from what's going on in other cities because i know the secretary of homeland secretary chad wolf told me that the situation in portland is to defend the federal buildings, the court, for example, the other situations are unrest and violence for other reasons. what's your take on what's going on across the country, sir? >> well, first off, let's start off, i try to save my special designation for mayor de blasio which is titanically unaware. i tried to save that for him but comment that federal officers brought violence to the community forces me to do an exception which i don't usually do. what you have here are riots for fun and profit, that's what you see here. these are not mostly peaceful riots. there was 28 federal officers seriously injured as of july 22nd. this is anarchy as our great president astutely pointed out and never to be misconstrued as protests or peaceful protest or demonstrations. those are the facts and we are seeing the same thing in all the other cities and i describe what i call the 7 deadly sins, match, defunding of the police department, desecration of police department, the disinterest in prosecutors, they don't want to bring the charges. they are let everybody escape, on top of it all, we are empowering the criminal, we are empowering and bolding the criminals at the same time we are demeaning, desecrating and debasing law enforcement and the law enforcement officers and the rule of law. this is a perfect storm for criminality and it's not the summer of love i can tell you that. maria: you've got police in oakland, california blocked by a judge from launching crowd control weapons like stinger grenades, rubber bullets and pepper balls. the cops can't really do their jobs and they don't have the tools that they should be. in portland, we are still waiting to hear the fate of two agents and their eyesight, two agents actually may very well go blind forever, lose their eyesight because the anarchist that is you're talking about were shooting lasers in their eyes, what is supposed to be done about this, how do you deal with it, pat, when the governor and the leadership of these cities will not allow their local police to fight back or to get involved? pat: it's mind bending, it really is and forgive me but when i hear about the judges who are making these decisions, i don't know, are they cut from the helen keller mode, deaf, blind on what's going on to the desecration of rule of law, they will not give the police the tools with which to combat these -- these riots that are really, they are really destroying the rule of law and diminishing the impact of law enforcement across the country. i don't know how we reverse, maria, i was there for the rock and roll 80's in new york, i was a south bronx robbery detective, i was a gun detective for a number of years, i was here when rudy turned everything all around in '93, i was one to have bodyguards and the fact is that in a matter of weeks in new york city de blasio has unraveled two decades of extraordinary work which just goes to show how quickly and how swiftly and decisively it can be unraveled. new york city is the worst i've ever seen it and i was here for the opening day which was right around st. patrick's day actually, high holy day. maria: well, one of the issues -- one of the issues is that the plain clothesmen, anticrime stoppers who are plain clothes police officers he dispanned that in new york, how significant -- >> pat: the height of madness, maria. tasked of legally removing illegal guns from the bad guys, he cut them. let's not do that. one two punch almost a week later he takes 1.5 billion from policing and moves it into social service work. this is a one-two punch the like offense which we haven't seen before. i mean, there's no reason not for the bad guys to carry a gun in new york city because no one is searching them. the standard police officer on patrol is has responded to 911 calls. the units that search them as you pointed out, street wide, city wide anticrime units, they are sitting behind desks or by the way they are at the pension section retiring because that's going on in record numbers as well, not surprisingly. maria: a lot of people -- >> pat: they didn't sign off for disrespect, i have to tell you the worst i've ever seen it. maria: pat, great to get your insight. pat brsonan. thank you for your service. back rent swelling in america as lawmakers offer no eviction relief. we are at a standstill now on stimulus. then from inperson to virtual. new streaming platform concerts, you're watching mornings with maria live on fox business. maria: welcome back, from the arena to virtual stages live music evolving in the era of covid-19 like everything else. new ticketed live streaming platform launches today allowing artists to perform before a global audience and get paid for it. joining us dream stay ceo and cofounder tomas and artistic director and cofounder yon, artist himself. thank you very much for joining us. >> good morning, maria. >> nice to be here. maria: this sounds like it's a great idea, thomas, tell us more about the platform, how it works. i'm happy to see that you were able to come up with a solution in this extraordinary moment in time, thomas. >> yeah, absolutely, the covid-19 destroyed the concert business, artives are suffering and we want to put them back to work. we, you know, create these beautiful events where people have the ability to event to their fans, it's high quality, it's streaming in super high quality and in beautiful virtual concert hall. maria: well, it sounds beautiful, yon, what are the benefits for you as an artist to use this platform, tell me how different it is for you as opposed to, you know, being in an incredible concert hall with thousands of people watching you, you're what, alone or with a few people in the room, tell me about it? >> well, i think you're right i'm very excited to explore it and artists want a beautiful place, destination where they feel at home and dreamstage the nation in virtual world and i feel it's overdue for artists in 21st century and this pandemic to catalyst and necessary for us to explore now in order to connect with our fans and give pleasure to our audience. maria: how different does it feel for you, yon, as an artist? >> it's very different. i've done streams, and i feel we can actually reach our audience extremely precisely because through social media and through the internet we can reach our audience so in a nice way, different way and feels -- when i say live, the same, heart beats goes up and adrenaline kicking in and it's a nice way to perform. maria: fantastic. i like the fact that you still get the adrenaline launch if you're not looking at thousands of people in the audience. thomas,let talk about how you monetize, let's talk about the prices of somebody wanting to go to virtual concert and how do you make money on this? >> prices 15 and $30, classical concerts are 25, come other concerts, we are talking to greatest stars in popular music will be around $20, we think it's amazing for the artists to be able to reach all their fans in this way and from anywhere to anywhere, you know, fans worldwide and we will be making a lot of money for the artists who have been looking for this, they get the bulk of the revenue we go to artists, we will also share the context so artists can reach fans directly. we are not standing in the middle of the artives and the fans, we want to enable that. maria: good point, yeah. >> so we are really thinking it's going to be great for the artist. maria: that is fantastic, we will check out the new streaming platform, gentlemen, congratulations, we will be watching. great news, we will check out dreamstage box office open today, thomas hesse and jan voggler, ceo's are just like us. >> you're on mute. >> mr. bezos, i believe you're on mute. maria: yes, jeff bezos microphone blunder making a buzz this morning, we've got it when we come right back. i should get a quote. do it. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ welcome to camp tonsafun on xfinity! it's summer camp, but in your living room. learn how to draw with a minions expert... how to build an indoor obstacle course! plus... whatever she's doing. and me, jade catta-preta. the host of e's the soup! camp tonsafun. it's like summer camp, but minus the poison ivy. unless you own poison ivy. in which case, why? just say "summer camp" into your xfinity voice remote to join. ♪ ♪ maria: all right, welcome back, time for morning buzz, first up he might be the world's richest man, jeff bezos facing same tech issues that we all faced during the pandemic. watch. >> you're on mute. >> mr. bezos, i believe you're on mute. [laughter] maria: how many times has that happened for you? richest man and all but all the same as everybody else. dagen, what do you think? dagen: i think that might be the only thing that he shares with every man and every woman, he didn't get a question for the first two hours of the hearing, he was snacking and drinking, what, coffee, just know that his snack bars are made with honey from the tears of humming birds. i'm kidding. [laughter] maria: steve forbes. steve: obviously he didn't use alexa to get him through these things and his kids weren't around. maria: good one. good one. steve: and with the snacking i'm sure he was thinking of those politicians snacking on the politicians or the competition. i'm glad that somebody could get something substantive of that hearing, so bless mr. bezos on that one. maria: he's the one everybody was watching because he hasn't testified before and people were focused on him. how about this, barbie for president, presidential candidate, campaign manager, fundraiser and voter, what do you think of this group? dagen: better than the barbie i grew up with because my barbie i shaved her head and dressed her in gi joe's outfit. ♪ ♪ maria: the video going viral, mark, it's pretty good. what do you think? mark: it just makes me feel good and makes me happy. i love baseball. i'm so glad we are actually playing baseball right now. i've never watched so many cleveland indians games back to back to back at the beginning of a season. it's fantastic. everyone out there is doing their best to adjust to this new normal, you have fake fan sounds in the background, you've got this being done virtually, probably about as good as it gets given the circumstances. i love it. maria: yes, we are all adapting to a new normal and a new reality for sure. all right, we will slip in a break. when we come back big tech grilled on the hill, what we learned from the hearing, live on fox business. ♪ (vo) since our beginning, our business has been people. and their financial well-being. it's evident in good times, with decisions focused on the long-term. and crucial when circumstances become difficult. that continued emphasis on people - our advisors, associates, clients and communities gives us purpose, strength and a way forward. today. and always. . . . maria: welcome back. good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is thursday, july 30th. your top stories right now, just before 7:00 a.m. big tech in focus, facebook, google, apple all reporting earnings tonight after the closing bell, after their ceos were grilled on capitol hill yesterday about anti-conservative bias, business practices, privacy and china. highlights from the fiery hearing coming up. stimulus stal stalemate, lawmaks far from an agreement. this as the extra unemployment benefits, $600 a week are set to expire tomorrow. the coronavirus effect on the u.s. economy today at 8:30 a.m. eastern, we'll get the first read on the second quarter gdp, it's going to be a tough one, expected to show a record breaking contraction of 34.1%, plus initial jobless claims are expected to rise for a second week in a row. the federal reserve not even thinking about raising rates now. jay powell saying the current economic downturn is the most severe in our lifetime. warning containing covid is essential. ups is surging this morning. the coronavirus leading to a rise in demand. the stock is up as you see, about 11.5%. qualcomm is also jumping after earnings as well as reaching a long-term patent settlement with huawei. the stock up this morning 11.5%. broader markets are lower, the dow futures are down 264 points, nasdaq down 137, s&p 500 down 36. markets rallied yesterday, following the federal reserve's decision. at the close yesterday the dow industrials were up 160, nasdaq up 140. unrest in america penetrates with violence raging in major cities. federal agents will start leaving portland. the administration says not so fast. the nba tipping off today, players taking to court in a bubble at disney world. matthew king is here at 8:40 a.m. eastern on how the virus is impacting gambling as well as sports in general. "mornings with maria" is live right now. global markets this morning are weaker, take a look at european indices, fq100 down 122. the german economy shrinking a record 10.1% in the second quarter. due of course to the coronavirus shutdowns. in asia overnight markets were mostly lower but really fractionally moving pretty much across the board. joining the conversation this morning, dagen mcdowell, mark tepper and steve forbes. dagen: good morning. maria: some of the top stories this morning, another round of talks between the white house and congress on a new covid-19 stimulus bill set for t today wh no compromise in sight yet. republicans are proposing a second round of $1,200 checks for americans making less than $75,000. democrats want to extend the $600 weekly unemployment benefit but republicans are pushing to cut the amount to $200 a week, just to be clear how this works, the state will replenish 50 of% of lost earnings. the republicans want to add 20% to that, take it up of to 70% replacement of earnings, that number roughly is $200 a week. house speaker nancy pelosi rejecting president trump's support for a short-term bill if the two sides cannot reach an agreement by tomorrow when those enhanced jobless benefits expire. and the u.s. reaching a grim milestone in the coronavirus pandemic, the u.s. has now surpassed 150,000 deaths. now leading the world in death as well as in cases. seven states reporting a record number of deaths in a single day, yesterday. all members of the house of representatives are required to wear masks while on the floor after texas congressman louis gomer tested positive for covid-19. attorney general bill barr was tested after being with him at the house hearing. barr tested negative. federal agents are expected to begin leaving portland today as the city sees its 63rd straight night of unrest. the trump administration as well as oregon leaders reaching a deal yesterday to withdraw the agents after accusations of excessive force used against protesters, as the white house announces the expansion of operation legend, deploying agents to other of cities like milwaukee, cleveland and detroit to put an end to the violence and vandalism. time for the world on wall street. joining me right now, dennis gartman is here, as well as founder of sout strategy, jack sout and mark tepper. great to see everybody this morning. thanks so much for being here. first up, the showdown on capitol hill, talking about it all morning, the ceos of google, facebook, amazon, apple grilled by lawmakers on their business practices. here's a bit of that. >> why shouldn't instagram be broken off into a separate company? >> i think with hindsight it probably looks like obvious that instagram would have reached the scale that it has today but at the time it was far from obvious. >> would amazon ever access and use third party seller data when making business decisions. >> we have a policy against using seller specific data to aid our private label business. but i can't guarantee you that that policy has never been violated. >> does apple not treat all app developers equally? >> sir, we treat every developer the same. we have open and transparent rules. >> you're saying that the more user data does not mean the more money that google can collect? >> the data today we collect is to help users and provide personal experiences. maria: meanwhile, all those four companies are due to report earnings tonight, all four from the tech giants. they're trading down this morning ahead of the numbers. mark, do you see congress taking action any time soon on any of this. mark: look, these things take years to play out. i would say that two companies that are most at risk would be facebook and google. facebook for censoring points of view and controlling the narrative and google for having a search monopoly. but it's because it's the best. if you want to use bing, feel free to do so. but the thing about these four big tech companies is they have carried investors' portfolios all year. and they've carried investors' portfolios for the last several years but they seem to be stalling out right now from an investment standpoint. they have underperformed the market since the beginning of july. when i look at all four of these names, apple in particular has seen the forward multiple nearly triple over the last 18 months with zero growth. so that's alarming and that's a position that we've been trimming of. we own all four of these, by the way. amazon in my opinion's probably the best positioned, the knock on them right now is the of cost of new employees but we all know good employees are an investment, not a cost. maria: by the way, mark, you've also got big fees that these companies have faced because of settlements they have to do with europe. the european regulators have been tougher on companies like google than the u.s. are we seeing that kind of problem that they face, that they're going to have to pay up in terms of big charges from regulators like they did in europe? >> yes, so i mean, those are big to people like us. but to them, you know, at the end of the day they're insignificant. look, we love from an investment standpoint, we love identifying companies that had a great long-term growth story that are surrounded by controversy. it provides a great opportunity to get in at a good price level. so that's why i wouldn't be shying away from these right now even if there is that overhang. maria: i just want to say that after the hearings, congressman sisilini told axios that a breakup lawsuit against facebook, quote, unquote, is an easy one. state of the economy next. the first estimate of the gdp, the second quarter gdp coming out in the next hour, expected to show a record-breaking contraction, 34.1% in terms of this quarter performance, initial jobless claims coming out today, the number of americans seeking unemployment benefits possibly rising for a second week in a row. we're above 40 million on that count. jeff, what will be the impact of this economic data this morning, in your view? >> i don't think there will be much of an impact, maria. i think the market is looking by that. everybody knew the gdp number was going to be bad, the employment number is going to be bad. but i think the markets are forward-looking in six to nine months. i think in six to nine months from now the economy will be doing better. maria: jeff, do you think we're going to have a 2 of o 20% seco, that's one thing larry kudlow said in the past, 20% second half. is that the kind of bounceback you're expecting? >> i don't know if you're going to get 20%. i think 12 months from now the s&p will be at 4,000. maria: okay. and right now it's at 3218. you're looking at buying stocks obviously to participate in that. let me ask you about the gold rush, guys. investors flocking to gold in all a of this amid the pandemic. dennis, you say the trade is getting crowded at this point. >> the trade is ridiculously crowded. as yogi bear ray sayi couldn't y gold two and-a-half years ago at $1,500 an ounce. now they're piling in at 18 and $1,90$1,900 an ounce. it's still a bull market. it will be higher six months from now, a year from now than it is now. with the crowded conditions that it prevail can bit $100 an ounce lower, yeah, absolutely, i think it shall be. it's a little too crowded. call it trader's intuition. but i'm out. maria: a little too crowded to get in here at 1,969. dennis, broadly speaking, should an average investor have some gold in the portfolio? >> oh, no question, 5 to 10% is probably what everybody should have at any one time. if you've been up to 10%, probably should knock it down to 5 or of 6 or 7% at this point but yes, everybody should own a bit of gold predicated upon concerns that the monetary authorities everywhere, whether it's the fed, bank of canada, european central bank, bank of china, bank of japan are all vastly expansionary and shall continue to be and that's what's driving gold prices higher. maria: so it sounds like you all think this market's going higher over the next year. jeff, are there areas you want to be invested in, given that you do see the s&p 500 up to 4,000 within a year? >> well, technology is probably the number one sector. right now, i'm buying the two most out of favor sectors, i'm buying financials and energy because they're all unloved and they're cheap and they have good forward earnings momentum. maria: it's hard to find cheap in this market, that's for sure. gentlemen, great to see you all. mark tepper, you're sticking around. you're with us all morning. we will continue watching, gentlemen. much more ahead this morning. next, florida senator rick scott is here live to talk about the latest on the coronavirus package and then the stalled stimulus plan, where are we. florida congressman matt gates joins us on big tech's grilling on capitol hill. he'll give us the inside. next hour, former white house press secretary sarah sanders talking about the stalled stimulus talks and conservative bias in social media. coming up, the nba restarts today in a bubble. we're looking at the state of sports gambling, coming up, with the ceo of fan duel. back rent is swelling in america as lawmakers offer no eviction relief just yet. you've got questions, we've got answers. ask the panel begins next week. send us a video question to maria@foxbusiness.com. you're watching "mornings with maria" live on fox business. ♪ i'm in love. ♪ i'm in love. ♪ i'm in love. ♪ an army family who is always at the ready. so when they got a little surprise... two!? ...they didn't panic. they got a bigger car for their soon-to-be-bigger family. after shopping around for insurance, they called usaa - who helped find the right coverage for them and even some much-needed savings. that was the easy part. usaa insurance is made the way liz and mike need it- easy. maria: welcome back. a devastating milestone to report, the united states has passed 150,000 covid-19 deaths yesterday. now leading the world in death as well as the number of cases. florida setting a new single day death record as well with 216 new covid-19 deaths yesterday alone. joining me right now is florida senator and member of the senate armed services homeland security and government affairs committees, rick scott. senator, great to see you this morning. thanks very much for joining us. condolences to you and all of us, the united states seeing an incredible milestone. how do you see it in florida? >> your heart goes out to these families. i think we all know somebody that has passed away and it's just devastating these families. everyone of us has got to do more. we all have to wear masks, we all have to social distance. i think government needs to give us more information so we know where not to go. and so we're not out of this yet. i'm very hopeful for this vaccine. we've got to open this economy, assuming we don't get a vaccine for a period of time, get our economy open, get back to normal but do it in a safe manner. maria: that's right, we are going to be living with this for some time, that's just a fact. white house officials and congress meeting today on a new covid-19 stimulus bill, negotiations seem to be at a stanstandstill. enhanced jobless benefits are set to expire tomorrow. what do you want to see in the new bill one it's finalized, what are you likely to vote for? >> we have to take care of people that lost their jobs. that's most important. i watch my parents not have a job. we have to help those people. i know we're going try to do something just on that today, just take care of the people that -- the unemployment, so hopefully something positive will happen on that. we've got to help our small businesses. and this has got to be a stimulus bill where we're focused on how do we get this economy going again. we need to have tax cuts. we need to have liability protection for small businesses. and we can't keep wasting money. think about it, maria. we have spent over $50,000 in just already in the bills that we've passed per unemployed. how much has actually gotten to anybody that lost their job? we have money in there for the fbi building, we have money in the past for the kennedy center. let's make sure this is how we get the economy going, help the people would have lost their jobs, help small businesses open again. i think this is right now it's going to be tough to get something done because the democrats just want to spend money. they want us to bail out the bad budgets, the prior budgets of states that don't want to live within their means like illinois, new york, california, new jersey. i'm going to fight that. this is somebody's money. maria: well, you make a good point because a lot of these cities and states were under strain way before covid-19 because of their mismanagement of their own budgets. what about that, money to the cities and states? this is one of the sticking points, right? the democrats want more money to the states and cities. how much? >> well, think about it. we've already given them over $500 billion, $500 billion and given them access to loan amounts of $500 million. and that's not enough. and we gave them money to deal with coronavirus relief. we gave them money to deal with medicaid costs. medicaid costs are down. we gave them money for their schools. they want more. we know they haven't spent that money they have. they don't want to give us a lot of information. they want us to give them more money to pay for their pension plans which they wouldn't fund, to pay for the budget deficits which they keep borrowing money. the idea that states have to live within their means, they don't. they keep borrowing money. i was the governor the first eight year cuomo was governor, guess what he did, every year borrow more money, borrow more money. he has all these liberal projects. i'm not going to let florida taxpayers pay for andrew cuomo's excess. it's not right. maria: andrew cuomo's excess being what, explain to our audience what you mean. >> first off, just think about it real simply like this. when i left office, before i became a senator, his budget was almost double mine and i had two to two and-a-half more people that live in florida, that's just by itself. i mean, he spends -- he's got $3 billion for climate change bond. but every part of his budget, he wastes money. maria: i see. all right. well, that's obviously a sticking point. but the president has allocated $105 billion for schools, is that the right number, real quick? >> well, i think we're clearly looking at that. we've got to get our schools open. we've got to get our schools open. we need to get our teachers comfortable to come back. we have to give people an option. if you want to teach at home or go to school, we have to look at that option. we've got to help our of schools. maria: senator, great to talk with you this morning. thanks so much. we'll be watching the developments as are you. rick scott joining us there in florida. coming up, tiktok on the chopping block, the new white house battle over the controversial app from china. then, claws are out, peta going after the tiger king now and it's making a buzz this morning. stay with us. businesses are starting to bounce back. but what if you could do better than that? like adapt. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. save without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you only have to pay for the data you need, starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. 5g is now included with all new data options. switch and save hundreds. xfinity mobile. maria: welcome back. unrest in portland, the governor of oregon saying that federal officials guarding the federal courthouse will be leaving by today. but the trump administration is insisting some agents remain until local authorities have a plan to restore law and order. president trump weighed in on this yesterday. >> look at the anarchists in portland. if they don't solve that problem locally very soon, we're going to send in the anything' nationd and get it solved very quickly like we did in minneapolis and like we will do in other places. they want to solve their problem, they've got a very short time to do it. but they'll either solve their problem or we'll send in the national guard. maria: unbelievable what's taking place. dagen, how do you see it? dagen: i think it's disgusting the messaging that you get from, say, the governor and even the mayor that the presence of federal officers are to blame for the violence. so it's not the anarchist, it's not the rioters, it's not the vandals, it's not the criminals who are committing actual crimes. the responsibility falls on federal -- the federal force that's been present. that's just an upside down world in the left wing luniverse as i call it. i want to point out some of the criminals are so stupid they have their name tattooed across his back. a man was arrested for torching the justice center in portland and the portland police bureau and he had his name tattooed across his back. that's thousand had apprehended him. kudos to the idiocy. maria: what you said is what's going on. they are trying to burn down federal buildings. that's why the federal agents are in portland. we should not mix this with what's going on, for example, in chicago where shootings were up year-to-date or in new york city where shootings and crime is also up. here, they're using commercial frayed fireworks and the -- grade fireworks and the federal agents have a mission to protect the federal buildings. mark, a lot of people have been trying to mush all of this together. it's not the same. operation legend is very different than what's happening in portland. mark: it's different across the united states. city by city. so i live in cleveland. obviously there are -- there's some help coming our way as well. i was just downtown over the weekend it was kind of a ghost town. i didn't see much going on. but hey, if there's a spike in violent crimes, obviously there's a lot of stuff you don't see. it's really the mayor's responsibility to protect their cities. if they're not going to do it, somebody else has to step up to the plate. how does the oath go? i'll protect the constitution against all enemies, foreign and domestic. we seem to be domestic enemies to me. i don't see what the issue is here. if people want to see what it's like to live in a world without police, move to a third world country. it's not fun. as for me, i'm going to stay here knowing that 99.9% of police officers are good people doing their job the right way. maria: that's right. and when you look at what's happening in this separate effort which is operation legend, the justice department is going to send officers to three cities, 25 officers to milwaukee, 25 to cleveland, 40 to detroit, already underway in kansas city and albuquerque. this is a surge in officers to address violence and unrest, illicit narcotics, crime in places like chicago. your brother-in-law is a police officer, is that right, and you're from cleveland? mark: he is, yeah. maria: mark? mark: he has seen -- yes, he's seen an escalation in issues where there's victims of crimes that are trying to bait police officers right now. so it's very, very difficult, obviously i'm not a police officer. he is. but just hearing it secondhand. it's difficult for a lot of police officers to do their job the right way. i mean, it's not good to have a bunch of police officers protecting you that are afraid of protecting you the right way. you know. maria: right. because they don't have the tools. they've been -- the tools have been taken from them, actually. we will keep watching this. this is a serious situation playing out across our country. we'll take a break. when we come back, florida congressman matt gates is here talking about his committee's grilling of big tech on capitol hill. he was in the room, among the questioners. we'll get into it. we're looking at cape canaveral where tha nasa is launching thes rover any minute now. we'll show it to you live. back in a minute. idelity. now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today. stocks by the slice from fidelity. apps except work.rywhere... why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have. or sending corporate their expense reports. i'll let you in on a little secret. they don't. by empowering employees to manage their own tasks, paycom frees you to focus on the business of business. to learn more, visit paycom.com maria: welcome back. good thursday morning, everybody. thanks so much for of joining us. happy thursday to you. i'm maria bartiromo. a look at markets, 7:32 a.m. on the east coast. we are expecting to show record-breaking declines and an initial jobless claim which shows a spike. futures are pointing to a selloff at the start of trading, dow industrials down 232 as the gdp for the second quarter expected to be down 30 plus percent. nasdaq down 116 points this morning, s&p 500 down 31. markets rallied yesterday following the federal reserve's decision, they basically said we've got all the tools and we're going to use all the tools to fight this. the dow industrials were up 160 points, the nasdaq was up 140, s&p was up 40 points yesterday after the fed meeting. ups is soaring on better than expected earnings, reporting strong demand due to the pandemic. stock is up 10 and three quarters percent right now. global markets mostly lower, in europe it is red across the board. we got economic data out of germany, the german economy shrinking a record 10.1% due the coronavirus shutdown. this is the low of the morning in europe, fq100 down 110. the in asia markets were mostly lower. you've got fractional moves pretty much across the board overnight in asia. well, the late congressman john lewis will be laid to rest today in atlanta. cheryl casone with more on that right now. cheryl: that's right, maria. president obama will deliver the eulogy today at the service for the civil rights icon. presidents clinton and presidents bush are also going to attend the service. it's going to be held at the same church where martin luther king, junior once preached. hundreds of mourners paid final respects yesterday at the georgia state capitol. lewis died at the age of 80. president trump says the u.s. will pull nearly 12,000 troops from germany as part of a multibillion dollar restructuring plan. 6400 troops are going to come home and 5600 are going to be moved to other nato countries. transfers are opposed by republicans and democrats. president trump maintains that berlin is not spending enough on defense. the president tweeted germany pays russia billions of dollars a year for energy and we are supposed to protect germany from russia. what's that all about? also, germany is very delinquent in their 2% fee to nato. we are moving some troops out of germany. well, treasury secretary steven mnuchin is planning to make recommendations about tiktok to the president this week. the app is being investigated for a 2017 transaction that skyrocketed its growth. secretary of state mike pompeo has suggested the u.s. may ban the app or limit users. there are concerns that beijing could use tiktok to pass on american's information to china's government. the ceo slamming facebook, accusing the site of anti-competitive behavior. facebook launched a similar app on instagram overseas. a look at what is trending on foxbusiness.com, this november san francisco residents will vote on an overpaid executive tax. tom brady's manhattan apartment back on the market, $13.7 million. a virginia chick-fil-a ended the food for coins promotion after an overwhelming response from the community. those are your headlines from the newsroom, maria. back over to you. maria: all right. cheryl, thank you. it was a heated back and forth yesterday on capitol hill. the ceos of facebook, amazon, alphabet and apple testified virtually facing tough questions from the house judiciary anti-trust subcommittee about competition, privacy, china and anti-conservative bias. watch. >> can you assure americans today you won't tailor your features to help joe biden in the upcoming election. >> we won't do any work to politically tilt anything one way or the other. it's again our core values. >> you did it in 2016. despite that, president trump won. i want to make sure you won't do it again in 2020. i'll cut to the chase, big tech is out to get conservatives. that's not a hunch. that's a fact. the power these companies have to impact what happens during an election, what american citizens get to see prior to their voting is pretty darn important. >> it is possible that at facebook your employees do have the power to disadvantage conservative viewpoints. >> of course, when you have tens of thousands of employees, people make mistakes. people have some of their own goals some of the time. maria: joining me right now is florida congressman, house armed services and judiciary committee member matt gates. always a pleasure to see you. thank you so much for being here. give me overall what struck you most about yesterday's hearing? >> the bipartisanship. republicans and democrats are working together to take on some of these america last technology companies. whether it's amazon stealing products, facebook spying on their users, or google refusing to work with the u.s. military and then jumping overseas to advantage the targeting capabilities of chinese fighter jets. i think it's right for us to ask not what america can do for our technology companies, but perhaps what our technology companies can do for america. and i'm excited about the fact that republicans and democrats are actually working together on this issue, because it will define the future, how users will interface with our major technology platforms. maria: yeah. i guess everybody agrees that they are more powerful today than they ever have been. when the telecommunications act of 1996 first went into law, they gave these companies protections, technology companies protections that they are not going to get sued, that they are quote, unquote, bulletin boards or platforms. do you believe that is no longer true? and what will congress do about it? will we see these protections be taken away? >> maria, you're specifically talking about liability protections that digital platforms enjoy under the use te auspices that they are neutral. those protections have allowed these companies to grow very large but we haven't always seen the neutrality. what we learned from the hearing yesterday is that particularly with google and facebook, the people that work at those companies have the ability to go and manipulate what you see and what you think because they want to control how you act. the fact that they made those concessions means that the department of justice needs be a lot more aggressive about mandating the transparency that would append to these liability protections. we don't need more government. perhaps we need fewer of the special government accommodations that benefit these large platforms, that then are unfair to the viewpoints that aren't reflected in the woke topia of silicon valley. maria: what are the odds that that protection goes away then? >> i think that the protection will go away if the anti-trust division of the department of justice engages in aggressive litigation to showcase the lack of neutrality on those platforms. i do not believe that congress will change the law because far too much of congress is bought off by big tech, whether it's through pac donations or whether, frankly, a lot of big tech goes and hires up everybody's staff to work for them and it's quite an incestuous process. it won't be a consequence of any brave action from congress. we largely lack that bravery. if we have gumtion at the doj i think we can force the transparency that will animate changes that will allow us to be able to use online platforms in a way that allows users to seek the information they want rather than being socially controlled by silicon valley big tech overlords. maria: wow. and some people do expect anti-trust lawsuits coming, like against google and facebook. dagen, weigh in here. >> yeah. dagen: indeed, maria. i want to point out that the anti-trust probe into google is the most advanced of the lot, according to reporting in the journal. the justice department expected to file a suit this summer. you also have the justice department, the ftc and state attorneys general looking into various parts of these businesses. congressman, it was the lack of action by people in washington over the years that allowed these companies to get as large as they did. in 2006 when there was a republican in the white house, google was allowed to buy youtube. and that is part of its power base. in 2012 it was facebook was allowed to buy instagram. maybe do you bust these companies up at this point? or do you certainly take a more aggressive posture in limiting their growth through acquisition. in many cases they buy up these companies and shut them down. >> i don't know that busting up big tech is the sole remedy. i think if you force them to demonstrate why they believe that they should avail themselves to these liability protections, they will actually change their behavior. lotlet me be honest with you how things have worked with the department of justice with republicans and democrats in the past. a lot of people that are at doj end up going to work for big tech. they want to create just enough virus in terms of anti-trust litigation so they can leave the department of justice, go work for big tech and sell the antidote. it's a corrupt process that existed with republicans and democrats in the past. i think attorney general barr and president trump understand the importance of this. this round of anti-trust litigation will be far more evidenceing testify. maria: i agree with you about bill barr. let me ask you about china. you brought up china during yesterday's hearing, asking google's ceo, sundar pichai, about his dealings with the chinese mill frida military. you said they walked away from project may vein because their employees were up in arms because they didn't want google to work with the u.s. government. yet they have an a.i. lab in beijing. we know when you're in beijing, that means you're working for the chinese military in terms of technology. your thoughts on the china threat? >> google has an a.i. center in china. they have a multimillion dollar collaboration through the university where the chinese military is plowing cash and some of the top talent from google has been sighted in chinese state media talking about china rattling the world with their power. i think google needs to be a lot more aggressive about ensuring that they're not advancing the interests of other countries at the expense of ours. but the one good thing, maria, is that sundar pichai took the pledge that he will not adopt the anti-police bigoted policies that his employees have asked for. they got us out of the dod deal but they won't allow us to deprive police of basic digital services. maria: yeah, i think this is a really important point that you brought up, congressman. i hope you stay on it. because google and that a.i. center in beijing seems to be quite dangerous. congressman, good to see you this morning. we'll keep watching. thank you, sir. be sure to check out congressman's new book, fire brand, dispatches from the front lines of the maga revolution by matt gates. great read. check it out. we'll be right back. where are you?! honey, did you hear about these new geico savings? mom? you'll get an extra 15% on top of what geico could already save you. can i call you back? your father's been researching our geneology. we're vikings! there's never been a better time to save with geico. switch by october seventh for an extra 15% on car and motorcycle insurance. hey, we lost the wifi password. do you remember what that is? maria: welcome back. online shopping is surging, one company benefiting big time from the e-commerce explosion is shopify, beating expectations with the latest earnings and revenue nor th for the online pm doubling from a year earlier. joining me is the chief operating officer is harley finkelstein. thank you for being here. >> thanks for having me back, maria. great to be on your show. maria: first, assess the situation for us, harley. tell me how good a quarter it was and what really struck you about this last three months. >> q2 for shopify was great, revenue was up 97%, gmv, the sales on the platform was up almost 120%. i think this is a story of independent retail and entrepreneurs and small businesses doing really well right now. and during the pandemic. and i think what's happening is consumers are voting with their wallets that they want to support their small businesses and the entrepreneurs in their community and around the world. and i think what we're seeing really out of this pandemic is a tale of two retail worlds. on one hand you you have the resistant retailers, those going out of business because they couldn't adapt fast enough. there's another side which is very exciting and i'm optimistic about which is the resilient retailers, those that quickly pivoted businesses, those restaurants that turned into wine shops, brick and mortar stores that moved online very quickly. most of them did it using shopify. it's been an interesting time for us. maria: if you don't have a delivery mechanism and you can't adapt easily to either delivery or park -- curbside pickup, you're at a serious disadvantage in this shutdown? >> you are. which is why as soon as the pandemic hit we threw out our plans for the year. we said all the road maps need to be put on pause in terms of the folks that work at shopify. we need to figure out a way to help entrepreneurs and small businesses survive and thrive the pandemic. we did things like gift cards so service based businesses can collect money and get cash flow. we added curbside pickup and local delivery options for anyone that used shopify point of sale at the brick and mortar stores. we took e-commerce, remember, before the pandemic started, e-commerce was about 15% of total retail sales. today, it's more than 30%. so we've had 10 years worth of growth in e-commerce in the last three or of four months and some of those businesses, independent brands, have done really well. it's not going back to a previous version. this is the new steady state. maria: yeah, and we spoke with max levchin last week about the deal with affirm. i know you've been striking various deals. how important was the affirm deal for you? real quick. i want to get into the new series. >> look, we believe that any way we can make it easier for consumers to check out online quickly is a great way to do it. the partnership between affirm and shopify is a great way to do installment payments. maria: so harley, you've got this new series premiering on the discovery channel, called i quit. what's the premise? >> well, first of all, we think a world with more entrepreneurs is a better world. i think you and i have discussed this on your show in the past. we both are big fans of small business. but if you look at most of the content being created on television, for entrepreneurs, it really is around drama. it isn't necessarily an inspiring way to get more people to think about starting a business. and we felt that honestly shopify is the entrepreneurship company, we want to create a show that inspires more people to become entrepreneurs and so we're following five different groups of people that have side hustles and full-time jobs. they end up quitting their jobs and end up working full-time on their businesses and do incredibly well and we want to create a new generation of entrepreneurs through the show with discovery. maria: love that side hustle. we'll be watching it on discovery. harley, good to see you. thanks so much. we'll be right back. businesses are starting to bounce back. but what if you could do better than that? like adapt. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. save without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you only have to pay for the data you need, starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. 5g is now included with all new data options. switch and save hundreds. xfinity mobile. maria: welcome back. time for the morning buzz, first up, claws out, tiger king star and peta in a legal battle over a halloween costume, lowe objecting to the tiger king getup. the costume costs about $160. mark, what do you say about this? mark: well, unfortunately they just foiled my halloween costume idea for this year. now i have to go back to the drawing board. i'm surprised it was peta that came up with the tiger killer costume and not carole baskin. as for the lawsuit, what do you expect? we live in a litigous society. it seems frivolous to me. maria: brooks backing out, garth brooks saying he's with drawing his name from entertainer of the year consideration at the cmas, the seven time winner of the country music honor says it's time for somebody else to hold that you award. dagen. dagen: praise garth not just for his music and kindness but for his self awareness because we need more of that in the united states. maria: sure do. all right. finally, love and a.i., scientists using artificial intelligence to predict what makes a successful relationship. the new study says believing your partner is fully committed is key to romance, appreciation and intimacy rate high. steve, your reaction? steve: you need scientists for that? i'm the father of five daughters. if you want to know about relationships, start reading novels by jane austen and take it from there. you don't need the scientists for that. maria: good advice. still ahead, sarah sanders is here on the stalled stimulus talks, the conservative bias on social media and the upcoming 2020 election, all right here, next hour, "mornings with maria." stay with us. eening for colon c. eening for colon c. because when caught in early stages, it's more treatable. cologuard is noninvasive and detects altered dna in your stool... ...to find 92% of colon cancers... ...even in early stages. it's for people 45 plus at average risk for colon cancer, not high risk. false positive and negative results may occur. so, don't wait to screen. ask your prescriber or an online prescriber if cologuard is right for you. maria: welcome back. good thursday morning. thanks so much for joining us. i'm maria bartiromo. thursday, july 30 i don't want stories right now 8:00 a.m. on the button on the east coast, the coronavirus affect on u.s. economy, in about half an hour 30s time the first read on the second quarter gdp, it is expected to show a record-breaking contraction of 34.1% for the second quarter also coming out initial jobless claims to rise a second week in a row all data coming to you in 30 minutes time federal reserve jay powell saying the current economic downturn is most in our lifetime ahead of numbers futures a sell-off start of trading take a look the dow industrials right now down 200 points this is low of the morning the nasdaq down 39 s&p 500 down 25. this on top of the pretty good rally yesterday following federal reserve decision in commentary about using all tools in its power to get things humming once again dow industrials off 160 points 4:00 on wall street nasdaq up 14070 higher by 40, stocks to watch this morning,ups surging after double beat this morning coronavirus leading to a rise in demand, at ups that stock up 11% qualcomm shares higher after earnings as well as reaching a long-term settlement with huawei up 11 1/2% big tech in focus facebook, amazon google parent alphabet apple reporting earnings after the bell tonight this after ceos were grilled on capitol hill yesterday about anticonservative bias business practices privacy, china highlights from firing hearing coming up,s stimulus stalemate lawmakers far from agreement on next round of coronavirus aid, this extras unemployment benefits set to with supplier tomorrow. unrest in america penetrates with violence in major cities federal agents begin portland administration says not so fast n. buta stipulating off players to court in a bundle disney wold empty stands, matthew king here 8:40 a.m. eastern how virus is impacting gambling, sports "mornings with maria" is live right now. maria: global markets under pressure take a look at european indices across the board ft 100 down 103 cac quarante down 59, dax in germany down 306 points economic date out of germany this morning the economy there shrinking, a record 10.1% in second quarter that was due to coronavirus shutdown, you've going to investors reacting in asia overnight markets mostly lower as you see fractional movers pretty much across the board in asia overnight the conversation dagen mcdowell mark tepper steve forbes great to see everybody this morning. >> thank you. >> good to be here thank you. >> thank you for having me. maria: now some top stories we are watching this morning, the fiery hearing tech on hot seat fouf questions from house judiciary ask virtually in washington yesterday, the ceos of amazon, facebook, apple, and google all grilled about competition, and political bias, the technology giant also asked about china technology, theft. facebook ceo zuckerberg the only one to say the problem is well documented, about china. president trump weighing in on twitter saying that he will take action against big tech, if congress fails to. >> the u.s. he meanwhile researching a grim milestone in coronavirus pandemic u.s. surpassed 150,000 deaths leading in world in deaths as well as cases seven states a record number of districts in a single day deaths yesterday. >> members of the house of representatives required to wear masks while on the floor after texas congressman louie gohmert testified positive for covid-19 attorney general bill barr was tested, after being with goem effort after tuesday us to hearing barr tested negative. >> round of talks between the white house and congress, on a new covid-19 stlufr bill set for today, no compromise in site just yet. . >> we are still very far apart on a lot of issues there is a supr subset of issues we agree on overall far from agreement the president is very focused on the issue of unemployment. maria: republicans proposing a second round of 1200 dollars stimulus checks for americans making less than $75,000 a year, democrats want to extended that 600 dollar weekly unemployment benefits, republicans want to cut that amount to 200 dollars a week, because many people are making more money while at home collecting that money, versus making money at work. breaking news moments ago out of this world mission took flight nasa plauchg mars rover preference car sized robot that will of perform tests on surface of the red planet included spacesuit materials to be tested in advance of mission to send first people to mass don't arrive until february 18, 2021. very cool hp stimulus stalemate not so cool democratic lawyers rejecting short-term coronavirus aid package from trump administration, white house meadows saying to sides no where are close to deal unemployment benefits expiring tomorrow joining me fox news contributor sarah sanders, great to see you. thank you so much for being here. >> good morning thanks for having me one. >> so you have been around meetings, up and down the street when you were, press secretary what do you make of this heated debate over the stimulus coronavirus aid do you think they will get something done by the time they have to leave again, on august -- for next recess? >> i certainly hope so but right now republicans and democrats are so far apart, that it may be a while. but i think they absolutely need to continue working on it workers need relief but we also need to make sure that we are putting in protections for business lienlt o protections for business i know is that important for republicans focus on task at hand not let extras be part of this package, focus on the relief for workers protection for business, and see if we can find some common ground, steak of the treasury mnuchin said there are some places they agree on let's start there focus on that, and see if we can build something and hopefully provide that relief that people need before they take their next break. but don't forget members of congress keep getting paid a lot of american workers struggling i think they should stay there until theyfying it out i don't think they need to come home for summer break until they do. maria: i think a great point they are getting paid others are not let me will bring steve forbes in here steve there are areas of agreement like tp limited protections liability protections that is important there seems a back-and-forth when it comes to money potentially going to cities and states, that is one of the areas of pushback on the republicans i think on democrats plan. >> that is right, because the states like new york want to bailout especially like illinois for bad spending practices in the past. many republicans are going to resist that, as you covered they've have states have vbt spent money appropriated to them one of the big things in terms of stimulating this economy would be, suspending the payroll tax, and, i am wondering if sarah has thoughts whether the president could do that by executive order just not collect the tax -- be the best stimulus for the economy, take that kind of offensive action and that way the company by be in a better deal instead of left at train station trump is is doing something. they are doing nothing. >> what do you think. >> i think a great thing if he has the ability to do that i think if president has shown his willingness to take things on when congress isn't able to get something passed. i think he has a great team around them that is always looking for ways he can do things through an executive order. if that is -- something he is allowed to do they should certainly be looking at that, and i think the president needs to start proposing for the fact that congress will fail to do their job, and he is going to have to look for ways to help, give relief to american workers that doesn't have to go through congress at least in the meantime until they can come to common ground firing it out. >> president saying he is going to take on big tech if congress doesn't do their job a heated back-and-forth, on capitol hill yesterday we have been talking about this all morning ceos facebook, amazon alphabet apple, testifying virtually yesterday facing tough questions from house judiciary skub about antitrust privacy anticonservative bias listen to this. >> are you observe americans today you continue taylor your features to help joe biden in the election. >> we won't do any work, you know, one way or the other, core values -- but you did it in 2016 -- in 16 president trump won i want to make sure c you viewpoints. >> when you have tens of thousands of employees people make mistakes have some of their own goals some of the time. >> sarah hard to argue there this is not true, i mean of you reconvene up front i have seen it up close, and by the way, two weeks before this hearing, twitter banned donald, jr., twitter band the whole house judiciary committee handle as well as a number of judiciary committee members like congressman doug coggins they said it was a mistake. >> big tech isn't god they can't get into business, of deciding who gets free speech in america who doesn't think of to be very careful with censorship placing on so many individuals i don't remember sensoring anti-american anti-israeli comments from adversaries i don't remember taking down liberal media spreading these are that created massive division in the country where was takedown of those conspiracies none of that took place we lived through it there is clearly a bias that is coming from big tech, i think they need to look at how they operate, and how they reel that that? stop buying god deciding who gets free speech and who doesn't allow americans to make up minds if people put junk out there let people decide whether or not they want to continue following those people or not they should not be in the game of doing that, obviously, if it is a violent threat that is something to be looked at, but people's opinions should not be decision for them to take down or not. maria: right, and that is why devin nunes is suing twitter, others are suing some companies because they are calling them content you are a mother schools trying to safely reopen amid covid-19 pandemic a major teaches union in los angeles said earlier schools cannot he welcome students back unless charter schools are shut down the police defunded the things they want in order to go back to school your reaction from mother's perspective. >> as a warrant, there is nothing you want more than to drop your kid off at school , and know that they are safe. and know that they are getting a good education, and they are in an environment where protected. so i ins that there is concerns from parents across the country that want their kids when they go back to school to know those things. the paper that this teachers union put together may be one of the dumbest selfish things i have seen from a group of teachers it has nothing to do with well-being of students the fact ne think students would be safer defunding the police is completely falsely they said one of the leading causes of death police brutality where i am from in articulate saw if a student turned in a paper with ridiculous information they wouldn't get a passing grade this teach's union should not either i think they needed a real look at what their priorities are and put effective back on make sure that kids are safe that they are getting the education they need sand they deserve, note focused on pushing their own special agendas. maria: s yeah, absolutely, all right. we will be watching very important points that you make great to see you this morning. >> sarah sanders joining ask us we've got a lot and to you sarah we'll be right back. stay with us. welcome back showdown on capitol hill yesterday he a topic of discussion all morning ceos of google facebook, amazon, apple, grilled by lawmakers on business practices, and comes ahead of their quarterly earnings out tonight joining me right now, portfolio he manager dan morgan good to see you, what you are expecting after the bell how are you. >> we look forward to facebook and goal in terms of advertising would i look for both basically flat for facebook down 9% for google if we look at apple we will probably see iphone revenues drop about 8% as we get ready for the 5g rollout everyone is excited about. so those are some of the highlights kind of going into reports, looking for some good momentum after that good report last week out of microsoft. >> i am grad you mentioned 5g that is also something for us to look forward to as potential catalyst for business look where amazon is above 3,000 dollars apple, 376 dollars the market cap of all four companies valued together nearly 5 trillion dollars that makes up 16% of the s&p 500 as of yesterday's close, that means where these companies go will impact broader markets investment portfolio of others given huge size. >> you are right if we add all it is 25% of the s&p 500, and you have what four out of six stocks over trillion dollars in marketed cap so there are huge companies no doubt about it, and they have tremendous influence what is going on a lot of people worried right now maria you and i have been in this for amount of time we are professionals we can remember back in 90s, when tech stocks were trading 70 times earnings, but still not quite there yet if you look at amazon, may be 160 times earnings, are netflix 80 times, microsoft google, facebook 35 times earnings apple not as excessive as back then you are right in terms of found as over markets s&p 500 in terms of performance, these companies are driving overall performance kind of doesn't make sense when you stack it up look being where the dow and s&p is there is a lot of sectors that are still way down these companies are really driving the benchmarks. maria: yeah, i remember in 90s we were counting clicks to the web site remember that dan through out events earnings revenues, web site the valuation is -- is there anything to stop -- yeah, is there anything to do to stop this charge forward like, for example, antitrust lawsuits are you expecting that, to put a damper on some valuations even if over mid to longer trm i know this doesn't happen overnight. >> going back in my minds out there since 1990 following teching stocks investing this them remembering microsoft trial in what feel different both parties going against these companies you were talking about political bias that wasn't really there with microsoft, right? so i think we are going to see something happen i mean look at facebook, 5 billion dollars to sec going paid 136 million fines i think there are going to be changes the way companies have to do business, and there may be more fines. >> yeah all right dan we will keep watching great to see you this morning thanks so much. >> thank you, maria. >> dan morgan we await read second quarter gdp dow industrials at lows down 223 points a break when we come back sanitizing the skies he we will show you more of jetblue's cleaning robot wait till you check this out. stay with us. >> welcome back sanitizing a skies, jetblue rolling out a new cabin cleaning system uv light technology, to sanitize surfaces issue seats on planes used at new york's jfk then fort lauderdale delta moving to ban face masks, because they may not effectively contain coronavirus not all completely sold on mask safety dutch government will not advise citizens to wear masks in public adding there is not enough proof masks work, officials there, pushing for stricter social distancing instead. >> dagen. dagen: i won't be going there on a jetblue flight. collectively the health community around the world is wearing ab mask brort than not wearing one at all covering your face, is better than going naked airlines -- >> i love the robot jetblue mark tepper what do you think about this jetblue deploying ultraviolet cleaning robot gives you confidence makes you feel better doing right thing to make sure everything is sanitized. >> i am hopping on a flight few hours makes me feel heck of a lot safer you look at airltz strategibling on life support rely on full flights to meant profitability anything to enhance cleaning methods is going to be very much welcomed. want the more they can reduce fear more reduce concerns more likely can sell the middle seat. . >> exactly, steve this is going to encourage travelers to have that confidence they need to get back on planes. >> a very helpful, and big thing too is the airports have to make sure people believe they are safe told time and again not being on the airplanes it is in the airport where the real risk is so they've got to do similar measures there eventually as you paterned show they are going to recon fiegure airplanes including middle seats coach in opposite direction a lot of long-term things they can do, to enhance travel confidence. maria: yeah, i think that is an interesting idea, all right. we will take a break whether we come back futures under pressure awaiting first read of the second quarter gdp, going to be big, stay with us. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. back, i am maria bartiromo happy thursday it is thursday, july you'll 0 we are waiting breaking news right now on economic impact of the coronavirus, in a moment we will give you the first read on a second quarter gdp, it is expected to show a record-breaking contraction of 34.1% look at markets right here ahead of numbers initial jobless claims coming out it is expected to be 1.45 million americans, filed for benefits last week, cheryl casone with all numbers right now cheryl. cheryl: we've got the gdp number this is the big one expecting, as decline 32.9% for a second quarter gdp first read this is a record breaker, markets expecting this but a tiny bit better than estimate 4.1% a second quarter gdp decline 32.9% now let's get to jobless claims, july 18, that week for continuing -- want to get to this gain 867,,00017.018 million then for initial claims, actually revision for last -- initial claims right about an estimate, 1.434 million initial jobless claims for last week. and the estimate was 1.45, is actually i know slight thing to focus on here but this means that we did not go for the a second week higher on initial jobless claims we actually came back a little bit on that initial claims number but going back to that gdp, looking through the headlines as we watch them right now, they did the final read q15% did not change again we have to talk recession again, we are looking at different things, within gdp report for second quarter consumer spending obviously, big hit here, that declined 34.6% just for the consumer spending component then looking at again, the -- the gdp rate again, the subsequence 34.7, 32.9 coming in initial claims about where we were expecting, continuing claims, did jump higher again, that is not really what we want to see. we did get that as i send it back to you for reaction i want to say the worst read in the history of the gdp reading was 1958 a loss of 10%, we just got a loss of 2.9% in second quarter united states economy shut down this is number we are getting, i will give you one more number 1980 gdp decline 8%, those worst numbers ever seen until today, maria back over to you >> all right cheryl thanks very much i think you hit your finger on it you nailed it, when you said this is what we were expecting because, the market has not moved much, on this incredibly extraordinary number a contraction of 32.9% get into it with charles swab an company senior vice president chief investment strategist liz ann sonders also a a pleasure to see you thaw thank you for being here reaction to massive contraction a second quarter. >> in line with expectations, we've seen the range of expectations extraordinarily wide up until a month or so ago when they started to converge around 30 something number there is a lot of attention on this being the worst ever we didn't calculate gdp in same manner that we do today back in depression era but from back of envelope calculations done by economists 30% range we are looking at depressing level contraction here hopefully though limited to may be this quarter the expectations for next quarter although again a wide range. are for -- minuss 2% plus 32 administrators that doesn't get feedback to even, of course, remember how that works. >> so liz ann we had good numbers in may and sooun you've talked about with a we saws retail sales, in jobs numbers, in may and june. i know that this is called you will the second quarter contraction, it is only the first read so we could get revisions but when you look at a second quarter, and seek contraction here is there any reason to believe given what we saw may and june up the recovery has begun? >> i think, the initial phase of the recovery has begun, keep that in mind when you completely shut down an economy, by fiat, then you have the experience of small numbers, increases off that compressed phase are going to look extraordinary. we saw in retail sales, industrial production. >> the problem is that in level terms a heck of a lot of way to go, in order to -- to crawl out not to mention concerns about the virus shutting down again, what we have consumers ought to do business oughts to do absent shutdown continues to reinforce the idea series of rolling witch's, fits, starts, economics activity we experience that had first bounce off bottom wasn't just driven by small numbers but pent-up demand came from most cases people shut in for months, i think a lot of that pent-up demand is exhausted now forward absent another fiscal stimulus package relief on a fiscal is starting to reign i think will test otherwise pretty strong rebound for things like retail sales we clearly saw that in the numbers today. maria: ro are there other areas, liz ann that you think would lead us us to that recovery you said retail, what about you housing, construction, where are the growth spots in this contraction? >> so, i think there are some spots a lot of focus obviously, on remote working, the stay-at-home types of industries i think they will continue to do well. looking beyond just the -- the current microenvironment right now do i think we are probably in the beginning of a transition. to more investment driven economic growth, so, in housing in health care investments continued investments in technology continued investments increased investments in infrastructure, by default i think that is going to push consumption down a bit as a driver of overall gdp, peaking out nearly 70% in the last cycle, i think by virtual of consumers wanting to kind of hunker down more boost savings rates the needs on investment side and dirth of investment in last cycle i think that more refining will happen the transition getting there fairly bumpy one. maria: let me bring in this mark tepper go ahead mark. >> liz ann you know i think there is no question that the dollars weakening right now you made a comment about it potentially nearing worst month in a decade. so if that is the case if dollar is weakening what opportunities are out there right now, for investors to take advantage of? in the face of a weakening dollar? >> well, clearly we've already seen it play out in pressure metals gold, and silver, other commodities traded largely in dollars on global stage. they tend to move inversely with weakness of the dollar. so i think, the move in some of those areas is actually more about the dollar, basement less about inflation concerns i think that comes into play the weaker dollar also helps exporters in united states so i think those are the areas, particularly if dollar continues to -- to weaken, would be kind of a way to of very based on on that weaker dollar. >> steve forbes jump in here we are expecting growth in the third quarter, what might that look like? here is steve forbes. >> well in third quarter i think going to be heavily dependent what kind of stimulus panel they finally get through which i think they will get through. and just wanted to follow up, on the question on gold. usually when gold starts to have a real surge that spells trouble, ahead. not always but often, not just a weak dollar. it means not confidence in the economic future. do you think this is just a blip liz ann? or is this something ominous is happened in early 2000s gold surged up-ended up in crisis of 2007-2008. >> i do think the strength in gold in addition to being the offset to a weaker dollar is a function of fairly grave uncertainty about growth about geopolitical environment so i think that is also been one of the reasons, for the rally in gold also keep that in mind, that we are in have been in incredibly momentum driven market with a lot of performance wherever that performance might be we have seen sector level in stocks scene it at subsector level, different phases, during this very condensed market cycle both on the way down and up, former momentum sort of feeds on itself i think you have clearly seen that in precious metals as well the rub there sentiment can be measured more than just equities, sentiment has gotten quite frothy in those areas i bet the that in and of its represents at least near-term riv even if still strong fundamental under penings to some of those moves. >> before you go take-aways on earning season or federal reserve meeting yesterday? >> i think federal reserve meeting was pretty much as expected, i think it was right for jay powell do emphasize the virus is going to drive task force i think earnings season, better than expected yes, but incredibly low bar in an environment where analysts are really have been front line in the absence of any kind of quantitifiable guidance. >> great to see you this morning thanks so much. >> thank you my pleasure. >> liz ann sonders charles schwab, special purpose acquisition company raising 445 million dollars in deal focuses on neurosigns drug development spun out from pfizer in the 2018 we look at it back in the game the nba restarts day in a bubble taking a look at state of the sports gambling when we come back you are watching "mornings with maria" live on fox business. now is the time for a new bath from bath fitter. every bath fitter bath is installed quickly, safely, and beautifully, with a lifetime warranty. go from old to new. from worn to wow. the beautiful bath you've always wanted, done right, installed by one expert technician, all in one day. we've been creating moments like these for 35 years, and we're here to help you get started. book your free virtual or in-home design consultation today. i was always comparing myself nefertitito my sisters.irl they were always thin and i wasn't... i ate a lot of food. and then after i had my son it was really difficult to lose the baby weight, and everything took so much time and energy and i didn't have that. and then i tried noom, it was easy and it was super convenient. it's effective, i'd say it's life changing. my my name is nefertiri and noom worked for me. visit noom.com and lose the weight for good. maria: welcome back, basketball in a bubble nba son resuming today after suspended due to covid-19 all games take place at espn wide world sports complex disney world joining me matthew king great to have you this morning thanks for being with us i want you to assess a whoa has done on in terms of of sports first talk about restart for the initiative b.a. what will it mean for sports betting in your view. >> -- initiative ba from a sports betting perspective we are held to running a special promising that will probably be biggest spread in history we are excited to see results. maria: why the biggest day in sports history? >> because there is a lot of pent-up demand for nba pent-up demand for sports people have been looking for things to do we kept them engaged over the course of covid period but at the end of the day they are everybody is excited for nba to come back. maria: right, and tell me about the last couple mrns as a result of this shutdown, and the impact, sports shutting down has had i mean, it is incredible impact across business. >> it has been incredible impact my perspective we have the broadest platform product portfolio of any competitors do horse race online casinos, even though fantasy sports, sports betting took hit during covid horse-racing casino business done really, really we'll business is great, at the end of the day there is no substitute for big four sports we are excited to see them back. >> so major league baseball forced to postpone several games also due to covid-19 outbreak but miami marlins are you concerned about any uncertainty as a result of what we've seen there? >> we are not concerned about uncertainty there from our perspective, baseball has hardest logistical challenge in covid amount of traveling number of teams, size of roster lack of bubble the hard toest avoid issues like this, i think handled it well when it came up in some ways inevitable biggest thing to understand how new rules affect betting, when in doubt we will side on err on side of fans if something unexpected that happens, we have no problem doing a payout giving money back, welcoming them back do the next game. >> dagen jump in. dagen: what about like in terms of other sports? how desperately do you need football to be back or i said hockey those are my two favorite sports. >> we are excited for hockey to come back then nfl incredibly important for business biggest acquisition season, the most popular sport in terms of number of people that play it i wouldn't say desperate would i say very excited for it to come back. i think from my personal perspective, it is if football doesn't welcome back would be indicative the virus has taken a dramatic turn for the worst i would worry with economy at large more than what -- o. >> did you see impact to comambling to all this as well matt. >> we did online casino business exploded hopefuls racing business did really, really well frankly people are looking for anything to do, we were ring, free to play games simulated madden video games things like that, and an incredible amount of engagement so goes do show people looking for stuff to do. maria: all right. we will leave it there, i know you are doing a lot to ensure safety, in person sports books as well thanks for being here this morning. >> thanks for having me. >> matthew king, first past do you lawmakers offering no, he vikion relief we take a look at that when we come right back you've got we questions we've got answers our new segment ask the panel begins next week, back in a minute. ♪ ♪ just for 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on your wireless bill. plus, get two hundred dollars off when you buy an eligible phone. now there is a rent crisis americans are more than 21 1/2 billion dollars in past due rent due to coronavirus pandemic according to one study research indicates 17.3 million americans are now facing eviction after federal protection ended friday, mark do you think renters ultimately face eviction in august? i assume there is going to be some wiggle room here. >> i don't think so the threatened right now toward home ownership millennials are buying homes with less complan to in my opinion landlords have less leverage everything in life is negotiable they have decisions going to evict over back rents to have that you be the vacant if future i think better off working with tenants keep you be the filled create a win-win. >> this is commercial space as well steve forbes other day reported, that tesla, elon musk tried to renegotiate, rent for his show ramos many show ramos in new york how do we solve this crisis, steve? >> well in terms of the individual side i do think there will be another extension 30 day, 60 day in terms of a stimulus bill. i think, two they will top up paychex instead of 1200 i think go to probably 2000 as a way in which to help with unpaid bills in terms of commercialra you are going to see a change, for example, commercial real estate for the lab sciences the like in high demand that area is going to do well. and life sciences things like that, warehouses brak zone over 90 billion dollars warehouses commercial retraditional real estate in trouble you will get a good deal other areas going to be big, very hot. >> i don't think you know people wanting to wait in lobbies to go to a 60 foot building show id go through that you at this point,dagen up to congress to help. >> to steve's point need to extend moratorium on evictions first and foremost i do that i huge mistake republicans are aren't doing something, well we need to get something done, to at least, continue extra unemployment benefits because those are the people who are having trouble paying rent people who are unemployed. but the land lords are sticking it to people who are in who are occupants of buildings and paying rent if you are going to stay in apartment you are not getting a rent instruction, and they are likely to try and raise your rent to cover, the rising vacant vacancies and evictions people paying rent going to feel. >> it the a break when we come back final thoughts from all-star panel more "mornings with maria" live on fox business right after this. some companies still have hr stuck between employees and their data. entering data. changing data. more and more sensitive, personal data. and it doesn't just drag hr down. it drags the entire business down -- with inefficiency, errors and waste. it's ridiculous. so ridiculous. with paycom, employees enter and manage their own data in a single, easy to use software. visit paycom.com, and schedule your demo today. maria: welcome back. president trump just tweeted this. with universal mail-in voting, not absentee voting which is good, 2020 will be the most inaccurate and fraudulent election in history, writes the president. it will be a great embarrassment to the usa. delay the election until people can properly securely and safely vote, question marks from the president a moment ago. dagen, your reaction? >> the question mark, it's a distraction. he's trying to get people crazy on the twitter this morning. ignore it. maria: well, he also tweets out an experiment that a local station did about mail-in ballots and they couldn't find any of them so he's got that in his twitter feed as well. we will follow this today and all day tomorrow. thanks to this great panel. see you then. have a great day. seize the day. "varney & company" begins right now. stu, take it away. stuart: i shall, maria. maria: i know you will have a lot to say about the president's tweet. stuart: i was just about to launch into that but i will delay a few seconds. good morning, maria. good morning, everyone. all right. let's start with this. what kind of a hit did the economy take when the virus shut everything down? here's the big number. between april and june, the economy contracted an annual rate of 32.9%. yeah, that is stunning but we knew it was coming. here's another number. first time jobless claims, 1.43 million.

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