Well be going to that in a moment. Melissa all right. The fight for key battleground states is on. Donald trump hosting a town hall in colorado any minute where he will no doubt respond to Hillary Clintons attacks in her acceptance speech last night. We will take you there live. Meanwhile, clinton remaining in pennsylvania, touting her economic plan to boost jobs and build up infrastructure with more taxes and spending. Steve forbes joins us with his take on this one. And how weak is the european economy . David ouch. Ouch. Melissa were about to find out. The results could have major impact on markets here come monday morning. David we know our economy is weak. Well be dealing with that as we deal with a markets. The dow ending the day lower, down about 25 points. Lower for the week as well, but a huge pop in gold. Turn around in oil, that is what phil flynn is looking at. He is a fox business contributor. Meanwhile lori rothman on the floor of the nyse. Lori despite a turnaround for oil, Energy Stocks took a big hit today, exxon a big loser. Reporter when you reported 50 decline in profits, yeah, third consecutive quarterly loss for exxonmobil, that will do the trick. That really took the wind out of the sales for any bullishness in the market. Combined with the disappointing Gross Domestic ProductSecond Quarter print. Well get to that a in a moment. Exxon down 1. 40 . He schiff ron was a loser as well. Bloomin brands, you heard of their restaurants, Outback Steakhouse and romanos macaroni grill, five plus present of shares decline in bloomin brands today. Another blowout quarter for amazon. Third consecutive quarterly profit for amazon. No bad news for this company. Shares up. 8, hitting an alltime high. Look at the s p 500, even though it didnt close at a lifetime high, it hit lifetime intraday today. The problem with the economy, the was a 1. 2 print on Second Quarter gdp. Less than half what wall street economists looking for on that. That was a lot of problem today. Back to you. Melissa lori, thank you so much phil, oil headed for bear territory. Something turned it around. Crude closing higher first time in seven trading days. I watched it happen on the screen. What was the catalyst . Bad news for the u. S. Economy i guess is good news if you dont want oil prices to go back down. That was really the story today, melissa. It was really about the dollar. The really the dollar was on fire. Everybody wanted to be long the dollar because Interest Rates were going up. That put extra downward pressure on oil and gold. Forget about it. We have a very weak, pathetic gdp number. Pathetic string of gdp numbers. That reduces odds fed raising Interest Rates anytime soon. Maybe take september off the table for sure. Maybe even december. That is how bad the number is. Consumer confidence, it wasnt good either. That absolutely gave us a little bit of a bounce. We also saw that really give gold a bounce. It was explosive today. If you think gold was explosive, melissa, we have to talk about platinum and palladium. You can argue about the merits of owning gold as a safe haven versus stock, whatever, but you cant argue platinum and palladium because there is very Strong Demand for that commodity. Those two commodities have been on fire. They ended the month, palladium, best up month since 2008. Platinum for the best month since 2012. Melissa phil, we have to run. We got the stress test results. David you look great in palladium by the way. Melissa i love palladium, stress test results for european banks are out. This is extremely important what might happen with our own banks and our own financial future. Adam shapiro is live from the newsroom with the details. Adam . It was italian banks that the europeans and investors are particularly worried about and the Third Largest italian commercial bank, one of the worlds oldest, actually came out worst in all of the euro bank stress tests. It had minus, what was it, 2. 7, 2. 4 capital ratio. This is well below obviously because it is negative, the 7 they were aiming for. The e. U. Was hoping that the banks would be increasing their capital equity. And this heche show for the ratio for the bank comes in minus 2. 7 . It has come up with a recapitalization plan to raise five billion your roy from different investors including goldman, city, Deutsche Bank but they are also creating what they call a new vehicle to unload some of their bad loans. They have roughly 50 billion euro in bad loans. That is 55 billion. About the nine billion euro in bad loans. They say they will unload as part of their twoyear commitment to change their portfolio of nonperforming loans and lower from the 50 billion euro down to about 14. 6. Bottom line they are the worst of the worse, this bank in italy. Their capital ratio came down with minus 2. 44 . That is not pass fail. They failed the test two years ago. Europeans decided not to use a pass fail grading system you might say. Theyre saying what the capital ratios are. This clearly is not sufficient. David ouch. This is not good news for europe. To put it in perspective, italy alone, italian banks alone have 366 billion in bad debt those banks are holding on to. With these stress test failures, that could be a problem. Adam, thank you very much. Melissa . You got it. Melissa what does all this mean . What does impact of stress tests have on u. S. Markets. That is what you care about. Charles payne host of making money. Steve forbes, chairman and editorinchief of forbes media. Lenore hawkins, meritas founder and advisor. Steve, with do you make of what you just heard . Everyone focused on italy rightly some they know a crisis is coming. The government could fall later this fall. The question how do they bail out the banks. Whether they create a bad bank, or whatever name they want to give to it. Whether they pump in capital directly which the European Community is not too keen b. One way the government will take action or knows it will fall. If it falls it will be replaced by a leftwing government wants to pull italy out of the european union. This is bad news. Melissa charles, i was going to say, did brexit break out of there just in time . Perhaps. Again i think the whole brexit thing we should probably wait another year to find out if it really worked out. I think it will, by the way. Brexit is interesting, italy to a degree has germany oaf a barrel. All those other countries are saying if we cant get help from European Central bank and angela merkel, go it alone, get our own central bank and print up our own money . We saw on heels of brexit there were negotiations for european rescue package if you will for these italian banks. It has been talked about and in the works. I think the impact in our markets should be pretty small. Melissa lenore, what do you think. He has it right. Merkel is really backed into a corner here. Lets not forget the potential disaster Deutsche Bank is. All of this can trickle very quickly over to Deutsche Bank. If this falls. We knew it would be bad, the bottom of the barrel. If they dont get a solution over the weekend, that is the first domino that falls. You will see bank after bank after bank in italy starting to fail. That will affect merkel and Deutsche Bank. She cant have that on her watch. Melissa steve, do we care banks in italy fall . We do. It is essential to get our own economy in shape. Sadly what we heard last night at the democratic convex was just the opposite. More tax, higher capitalgains taxes so you have weakness around the world that will have ugly political consequences. That is the what we have to worry about more than particular banks what it is going to do politically. These things have ugly consequences. Melissa charles, what do you at this of that . We know Allied Irish Banks did poorly as well. What are the implications of all of that given what steve said . We dont have to go back that far, used to wake up at least i did, i wanted to know how greece was doing. Melissa right. Think about it. Less than half of 1 of the global gdp we were on pins and needles. I dont know the contagion is there but possibly there but there will be major intervention. I love what steve said, cautionary tale is important what were been told we can go further down the path of europe. We can gallop down the path or finally draw a line in the sand. Melissa yeah. Contagion is were looking at for solution. Look what was happening in greece and what is still causing problem there, it is too hard for businesses to function. They cant start. They cant grow. We have the same thing in the u. S. You have got it in italy. Businesses cant hire and fire as easily as they ought to be able to. They cant get it started. Look what ceos across the world is number one problem. It is red tape. We have problem and lets make it worse. David bring it back to the United States, steve forbes, because we had a market, slight Market Reaction to the gdp figures today, but not a big one. We certainly havent had big Market Reaction, in fact just the opposite to slow Economic News abroad. China is slowing down. We see in some. Figures, even apple going great guns right now had to show figures in china didnt look so good. What effect does china and europe have on the u. S. . Certainly hasnt had any affect on our markets as of yet . No. Which of is kind of amazing but the fact of the matter is when you look at that Second Quarter report, david, Business Investment continues to be very weak. It is continuing to fall. Six quarters of profits essentially flat. If the market gets any real legs after this it has to have something boosting the bottom line. It is not coming from china, not coming from europe and not coming from here. Where is it going to come from . David charles, we have had a earnings recession, although some of that talk is discounted because we had good tech earnings recently. Is that concern to you . Because a lot of the earnings recession has to do with our sales abroad which havent been doing so well . Youre right, they havent been doing so well. What were seeing this Earnings Period so far is better guidance. Well see. This better be the inflection point. For the gdp report, Consumer Spending 4. 2 , that is the best in two years. Consumer is holding Thing Holding this economy together. If wages go up, maybe that even helps but at soap point to steves point, businesses have to kick in. Not sure they will. David you cant live on consumers without producers. Consumers is much larger portion of the economy. David yes or no. You cant consume anything if you dont have a job. Lenore, lets talk about italy because you know it very well. You spent a lot of tile there. Im just, one thing that is not spoken about too much with italy, 40 of the its economy is underground. That is where the real free market is. That is where real innovation is taking place. You think eventually because there is kind of a Political Revolution going on in italy like there is elsewhere in the world the underground economy will become the mainstay and they will get rid of all the regulators and bureaucrats . Well there is definitely, when you go to dinner there are two prices. One with the credit card and one with cash if you know the owner. Melissa thats true. Makes sense given the tax rate is so high there. Get anything done the mountain of paperwork you have to get through. So there is the formal and then there is the informal. David will the formal become informal . Will the revolution, to put it mildly, will the Political Revolution affect the economy and turn it around . I think there is a good chance that you have got so much disillusion what is going on with leadership. Nobody seems to get their arms around it. They keep electing people like five star movement. They say they fix everything. They get in there, only gets worse. No matter which direction italians to the situation doesnt get better. I wouldnt be surprised to see big changes. David relying on stability in italy is not a way to get rich, is it . As simple as that gang, thank you very much. Appreciate it. Melissa. Melissa americans may have been affect with the zika virus here at home, infected. Disturbing new details out of florida coming up. David meanwhile, donald trump hosting a town hall in Colorado Springs now. Set to begin any minute. He will no doubt respond to Hillary Clintons attacks. Melissa i think so. I think so. David you could get rich betting on that. Melissa absolutely. Clinton back on the campaign trail today, pushing an economic recipe to get americas economy tooking again but steve forbes says she is leaving out a very key ingredient. In my first 100 days we will work with both parties to the biggest investment in new, goodpaying jobs since world war ii. You owned your car for four years. You named it brad. You loved brad. And then you totaled him. You two had been through everything together. Two boyfriends, three jobs. Youre like nothing can replace brad. Then Liberty Mutual calls. And yobrk into your happy dance. If you sign up for better car replacement™, well pay for a car thats a model year newer with 15,000 fewer miles than your old one. Liberty stands with you™. Liberty mutual insurance. 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Peter, a big kerfuffle about whether he deserved to receive National Security secrets because of some of the things he said. Go ahead. Reporter well, but, david, as under 2015 law, president ial nominees and vicepresident ial nominees are supposed to get these National Security briefings this, there are actually, intelligence agencies, the government is actually following the law in this case so, yes, there might be some controversy about it, but, donald trump is entitled to these National Security briefings as the republican nominee. So is his vicepresident ial nominee, so is Hillary Clinton, and so is tim kaine. And so theyre all going to start getting them now. They will not be daily briefings like the president gets but they will be regular briefings. Then they get some strategic level briefings occasionally as well. Lets go back to what is going on here between Hillary Clinton and donald trump because theyre both on College Campuses today. All right. It is battle of the campus bands only with politicians. Why is that . At leave some bernie vote is up for grabs. Donald trump is not going to cede that to Hillary Clinton, despite Bernie Sanders endorsement of her at the Philadelphia Convention here this past week. So being, we have seen, polls showing perhaps 10 to 20 of these younger, of these bernie supporters, a lot of them younger people, a lot of them college student, could go to trump and so we saw Hillary Clinton here today, reaching out for that vote. She didnt do well that vote in the primaries against bernie. We see donald trump making sure he will be competitive with that as well. His remarks due to begin here shortly. I will get back to hillary what she said about trump here at Temple University today, a little later in the hour. Back to you. David peter, thank you very much. Melissa . Melissa playing major role in the 2016 election but one nominee is gaining much more than the other one from people in hedge funds. Any idea which nominee that could be . Take a wild guess. Plus we give you latest details of a Fatal Shooting of a Police Officer in san diego. Thats next. Heroic efforts by the officers on scene, heroic efforts by the doctors to save his life, but again, heartbroken to report that they were unable to save his life. Snow. What super poligrip does for me is it keeps the food out. Before those little pieces would get in between my dentures and my gum and it was uncomfortable. Just a few dabs is clinically proven to seal out more food particles. Super poligrip is part of my life now. Legalzoom has your back. For your business, our trusted network of attorneys has provided guidance to over 100,000 people just like you. Visit legalzoom today. The legal help you can count on. Lega