tv Mornings With Maria Bartiromo FOX Business July 24, 2019 6:00am-9:00am EDT
♪ we've got a big show this morning from our beautiful brand new studio here in new york city. check out our new digs. it is state of the art and we're launching right now. right here. join the conversation this morning dagen mcdowell manage partner mike murphy and bud commons on deck this morning former federal prosecutor and fox news contributor for a preview of special counsel robert mueller's testimony later this morning, and as for capital executive chairman and wppc talk about britain new prime minister arizona congressman member of the house judiciary committee joining us this morning also to discuss molar, and my exclusive
interview with ceo of six flags chairman jim reid anderson big show ahead in the brand new studio dagen, congratulations to us. j one of my paiflt views well one of you -- but radio city so a brand new desk and i'm wearing sweat pants. >> no you're not. i even have proper shoes on. again it is like old bugs bunny cartoon with elmer fudd you have to have proper outfit or personality changes. >> there's a camera over there so check out hot shoes all of the time. >> i didn't know that or make that mistake. >> this was amazing and i was out with friends last night in new york city on the upper east side five finance type people all say hello all big fans of you and you deserve this. awesome congratulations. >> no it feels good. just -- for those bigger guys i kind of like having the counter last tile i was here you're expose
all the cay down you have to make sure your sues p suits fit just right. >> we're glad you're here focus on mummer this morning and get your take on what to expect former special counsel going before lawmakers and about two hours. 8:30 a.m. eastern when it starts accompanied by a key aid aaron who works with mueller during his nearly two-year investigation this will be the first time mr. mueller answering questions about about probe. president trump commented on it yesterday here's what he said. >> no collusion, no obstruction or that's not good enough let's go more. 40 million dollars interview 500 people they've got nothing. 2,500 subpoenas, they did everything. they're collusion, no collusion. they have no collusion -- >> yeah. we would be talking about this for a long time bold what are you ppghting? >> theater political theater i don't think there will be new information that comeses out robert molar is a smart guy, and i think that in thes are going
to try to cut campaign ads. >> what about it shall trying to read from the report and make clips out of it. >> but what about republicans the republicans want to know if mueller focused at all on origin of the russia investigation. why we've been having our heads on fire for three years about collusion when we knew from the get-go certainly this group did that there was no collusion and it was a setup. >> sure there's a serious of questions he'll be asked and i don't expect, i think he'll dodge them but i hope he answer it is them, and questions you know frankly iftion on your show for the first time talking about this -- around the tile he was appointed and we were already seeing that the basis for the allegations seem to be falling apart but yet within a month of disappointment you have 13 lawyers appointed on -- he was gearing up for something big. and i would like to know what he thought he was gearing up for because it was apparent that russia collusion story was falling apart within weeks of his appointment. : 13 lawyers. which is one of the questions i think -- dagen. 19 the republicans.
the to ask. how to come to this group? given the fact that so many of them were either clinton donors, clinton fans, they worked with the clinton global initiative. i mean it was pretty extraordinary his group that was so bipartisan. >> one of the questions from the republicans that he might be pling to answer but if he gets grilled about predicate within the fbi about the evidentiary basis of it. about the use of the steal dossier again, about how it wound up being used to spy funded by the hillary clinton campaign and use to spy on her opponent. i doubt he will answer any of those questions and the republicans need to be careful as well that they don't overplay their hand. again, if they try to turn it into theater and mueller says nothing in his answer, then that can reflect badly upon them. >> yep. you're absolutely right. amazing that we're at this point now from where it started and you've been calling whole way that it is a hoax now that we're
here and coming at them from both sides it is -- that you kind of script a better hollywood story. >> amazing. it is not hollywood wall street journal editorial page call the it is a smea run that basically a flagging tv show and they're bringing in a celebrity guest the democrats are. >> i like the way that started is nothing better for ratings than a celebrity guest got here. >> he's not going to really boost the rate physician i say myself by saying that. >> but what's had critical i hope that people try to puns this. special counsel wasn't appointed and he had this same job, powers there's nothing about that job that says you go out to investigate somebody don't find a crime and then write a lengthy unflattering report release into the public. if i would have done that to anybody, i would have been fired
in 20 seconds. and so -- there's this is not a criminal investigation at that point it becomes political and it is very obvious that that report was written for political purpose to me. i don't think there's any real explanation especially for volume two the obstruction stuff to me -- >> the inappropriate claim that he didn't the report did not exonerate president trump. that was highly inappropriate the democrats are tbing to try to play off of that. i read the entire mueller report, and you have and i've said this before you have fbi investigation a mueller investigation that went ahead that were not octobered you have no witnesses interfered with 500 search warrants, and mueller team interviewed everybody they wanted to even people within the white house that is not obstruction and 21% of americans only 21% want impeachment hearings started. the democrats try to move the needle on that, good luck not happening. >> a new reporting this morning
from john solmen about mix foot in mueller report joseph is referred to as a russian operative. we knew that was questionable. we've known that was questionable for a long time we have george on my sunday morning futures program earlier this year who told us the whole story about joseph and how he dropped bomb in his lap and said the russians have e-mails from hillary clinton. we're going to get to that that's coming up in the program. but even as this -- mueller testifies today there's new information coming up about the origin opinions of the rob investigation. and why pet left just basically inserted donald trump into russian meddling in the west. we want to look at this many morning and also looking at big technology big technology under fire. department of justice opening antitrust review into certain technology companies amazon and apple your reaction to that? >> but if you remember google went through something similar a few years ago. i don't think there's too much here really. it is important that they look
into them. it is important that we understand that it is a fair business environment. but when you look at them, i mean, think about google, facebook, amazon, apple, there's enough competition amongst these four and then there's other new technology companies that we talk about often that are coming into the frame now. so i don't think there's too much there. there may be something for the government needs to look i think, but i don't think it is going to have too much of an impact, and remember microsoft was first big tech company to go through this. made it through unscathed look at them now. >> even though, even though grade google does patrol 30% of the market share i know this is about privacy this is about censoring conservative. but the market shares on grade school is -- i mean, 90%. >> it is then you can go to google not working with the u.s. government, and working with the chinese government. so there's google has more expow sure than anyone else there but i think again they've been down this road before and they were able to come out of it without
any issue and same will happen here. >> bud might be able to weigh in on this but i think in terms it have might not be legal action by the jots department. but ultimately the federal trade commission i think is going to prevent a lot it is going to take a closer look at any acquisition that these large companies make what they've been doing not just facebook buying instagram or what's that but they buy small company, small company to gobble up talent and a lot of times they buy company and then not do anything with the technology so that does inhibit growth in this country in terms of innovation. and even exploration. one other story that was in the journal and this was again the regulatory pressure on these companies bill barr the attorney general is reopening the debate over whether tech companies apple and facebook should be required to provide law enforcement agency as with a way to break encryption on devices and apps used by terrorist drug cartel and criminal suspects
barr said yesterday warrant proof encryption enabling to clothe their communications in activities behind an essentially inpenetrable digital shield this is the san bernardino terrorism case where apple basically went to court to fight the fbi from having to rewrite code and open the device. this is a huge, huge issue for tech companies going forward. >> sure is, with and the privacy issue in the breaches happen every day. we continue to get easted and breaches handling our information. thats they open it up for terrorist organization soon they're investigating financial people and banksers, and lawyers, so you know it's -- slippery slope. >> and if they do that i think criminals are ones who are going to figure out a way around it or next way to do it without being tracked. which is is what apple said from get-go not a back door because one there's a back door there's a front door . for others to get in. no i was just gong to say but you go into -- investigate a pedophile, and if
their phone is locked their computer is locked there's nothing you can do about it and manhattan district attorney cy vance talked about you about that thing they have cases where they can't pursue these criminals and pedophiles with no access on information on their devices. >> fisa warpts to chase their warrant but that's right. that's the problem. good point because the team -- at the fbi and the doj were using our terrorism tools informants you know spying wiretapping these are things we use for terrorists using it on donald trump. >> not use a tool that's on table if you think you're doing something you should be doing. a market move of the year space giant expected to release second quarter hours in the next hour. investors watching closely given problems with the 737 max jet the potential impact it could have on friday gdf numbers mike toipght get your comment here but also on caterpillar giving
you an indication of the global economy particularly china as well. >> exactly more of a read on caterpillar boeing i think is specific to the 737 and how they're going talk about their orders going forward. but remember boeing stock has rallied a little bit more than 10% leading into earnings announce. although traded off since the news it has rallied. but they should give a good read on china what's going on in china, and again, i think that u.s. will carry caterpillar but international markets i don't expect much from. >> we'll keep watching that a lot on the show this morning take a quick break extreme weather, incredible moment a tornado rips roof off a moalgt we've got the firs wait until you see this mayhem earnings on tap at&t among heavy hilters reporterring this morning all of the numbers and impact, coming up. stay with us. (vo) the hamsters, run hopelessly in their cage.
because when it's decision time... you need decision tech. only from fidelity. welcome back puerto rico governor redesigning today cheryl casone on headlines right now. cheryl, good morning. cheryl: good morning maria well in puerto rico on news that governor ricardo is stemming down . ♪ well a puerto rican newspaper has reported that govan is going to rep design today after a week of massive protest there. leaked messages from within his intercircle reveal insensitive comment on sunday he a knownsed he would not seek reelection but vowed a tile to stay in office. we're waiting for developments out of there. back here in the pus the northeast is cleaning up this morning after severe storms slammed the region kade kod,
massachusetts hit with two very rare tornadoes and then take a look at this tornado completely ripped off holes roof terrify the guests that were yes on vacation there luckily nobody was hurt. well investors are liking what they're seeing in chip total latest urgings stock rallied in overis night trading after the second quarter profit and same store top xpgs chip total seen share of problems with food safety also race guidance for the year. so a little bit of a turnaround there. shares of snap by the way sharply higher in premarket trading we should add after the bell the snapchat parent reported a smaller than expected loss on revenue that beat the street forecast there's the stock in premarket ten and a quarter percent to the upside user growth by the way hit a record that was one of the concerns from investor so they gain new use ergs. ups is soon going to begin sunday and pickup keeping up with rival fedex and working seven days week in january.
the two large fest careers are underpressure to speeds up dloif reis as, of course, long time customer amy dison is building out its own transportation systems with its own. ups set to report earnings at 7 a.m. and bring you those numbers as soon as they come in. maria and those are your headlines. this morning -- >> thank you so much cheryl take a short break when we come back tumbling this morning after the dpght of justice announce a antitrust investigation into whether or not these companies are too big. then caught on camera the heart stopping moment a bison charges at a little girl and launches had her into the air. look at this. and here we have another burst pipe in denmark. if you look close... jamie, are there any interesting photos from your trip? ouch, okay.
huh, boring, boring, you don't need to see that. oh, here we go. can you believe my client steig had never heard of a home and auto bundle or that renters could bundle? wait, you're a lawyer? only licensed in stockholm. what is happening? jamie: anyway, game show, kumite, cinderella story. you know karate? no, alan, i practice muay thai, completely different skillset. lick fast like a cookie dough ninja. apply that same speed to the ford hurry up and save sales event. for the first time ever get 20% estimated savings on select ford models, plus earn complimentary maintenance through fordpass rewards. it all adds up. don't you love math? so get here asap because tasty deals and summer go fast. get in or lose out on 20% estimated savings on select ford models, plus earn complimentary maintenance through fordpass rewards. while managing your type 2 diabetes- why think about your heart? lower a1c helps, but type 2 diabetes still increases my risk of a fatal cardiovascular event.
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meanwhile a big crack down shares of amazon and alphabet all underpressure after the dpght of justice announced a broad antitrust review 5eu78ed at investigating whether these companies stifle competition. this comes as several of these big tech companies will be reporting earnings this week and next joining us right now, to talk more about that -- is paine capital manager and ceo alex great to see both gentlemen thank you so much for join. >> thanks maria let me start with you ryan. because these stocks are under pressure this morning as an investor what do you toopt when you come in and top story in the journal this morning is this -- major antitrust inquiry into tech? >> down one and a half percent isn't major pressure maria so i think it will tell you market is not overly concerned it be but i'm hard pressed to think these stocks or monopoly for instance amazon is half of the revenue of
wal-mart so hard to justify that they have a monopoly on e-commerce sales or retail sales in general. >> so you wonder you wonder alex if you know, this antitrust investigation trips over other things , i mean, as we speak, congressmen devin is sue twitter for censoring his conversation for taking his post down and leaving otherses up. which are similar in nature, you've got the president saying that he doesn't get fair treated fairly so i know that the antitrust app, aipght trust investigation when you look atom assistance amy dison may not be dominant what about tripping into other things? >> well i think that's exactly what this antitrust review is looking at is how do these tech platform monopoly they are how do they compete or tweeter producers suppliers, consecrator on a twitter, youtube on a facebook. the websites on a google search, the sellers on amazon.
and then absolutely is where they get in trouble that's basically what my microsoft got in trouble in the 90s and so much of apple and revenue is built around iphone yet so many smart phones out there from google to samsung so would you call apple monopoly or because apple store how do you look at that ?fnlgt all of the platform industries have a win or take all dynamic with one or two given winners so ios and android and they control 95% of the actual operating systems in mobile and then you look at there's an article in "the wall street journal" this morning about apple get favoring its own app, versus other third party app developers in the app store which is same thing as grade school favor its own content over yelp trip advisory and many other sites to get this trouble when they integrate or compete unfairly with producers contradicting value or content or apps into the platform
ecosystem that's kind of what you call being greedy. >> it would be many previous years unthinkable maybe it shall that a republican administration at a republican white house qowld have its justice department reviewing companies in this way. go not with this because he's talked in the same way that elizabeth juan what is talked about them in terms of their -- overriding power, and that they've got too much power in too few hands. pfnlings so signals not only in attorney general comments. but if you read, you know, the ftc, and doj, they haven't just had had one meeting about this. apparently there's been a series of meetings associations you know it is not just the let's have a meeting about antitrust to check that bogs to say that this is something they're working on and they put a lot of energy into. so i think something will come out of it.
i don't know i'm not antitrust guy so i don't know if they found problems be interested you know what do you think is -- is worse for them what might what? when president joined us about two weeks or so ago i said this president would rather see competition right do you want because you would think as -- republicans want competition to come into the marketplace, before any regulation in the president was very clear they said you know what we might need legislation that will lead to competition. >> yeah ping so -- look there's a spectrum and born isn't on spectrum is prospect of breaking these up is realistic but regulation that says zuckerberg calls for this in june. we don't know where the line is between abusive or hateful speech off our platform versus violate free speech wants to be regulated and role of government to lay out lines about what's appropriate versus what is then
violating free speech and no one has done that. the case for stocks here, and when you put a portfolio together how much of it wants to do you want focused on tech? >> well first off, i mean, all of the companies are going to literally double the revenue or they have over last 12 month os so, obviously, there's grow rapidly. i think it is definitely momentum trade right now. even if you own s&p 500 right now kind of like a tech fund and drag 30% tech right now. so i think there's a lot of money pouring into the s&p 500, managers have to keep up with the index so i think a lot of money will keep pouring into the songs i don't think they're the best value on the overall market but i think momentum trade absolutely stocks have room to run here maria. >> we might join -- as an investor you know all due respect to president trump. but i would wrath per these companieses police themselves and i don't want government -- >> really? if years about it do is something about it don't let
them murder their children on screening because government will cool after you because they've been so reckless with people information this was not about cambridge analytica but about a business scheme designed for management for years to basically grow user base like oh, these app developers will give you access not just to friends of the people information but the information of their friends, and we'll kind of not tell people that that's going on and it went on for years how they got as big as they are. >> a good point they're going to start policing themselves at some point. alex thank you so much for joining us ryan great to have you as well we showed you at&t earnings on screen a few minutes ago. quarterly numbers better on revenue side lauren simonetti with all of the numbers. crossing in line eps89 a share a slight beat on revenue coming in at 44. 95 billion dollars versus
at&t ceo sayses that company is on track to deliver on all priorities this year. free cash flow that's important. 8.8 billion, of course, they have to pay down some debt from that time warner acquisition put that money to streaming service. hbo max which is set to come out at some point possibly this spring of 2020. so listening on the call which is in two hours from mow for anything that company has to say about that specifically. >> all right stock is down about a third of the percent. robert molar is taking stand today wee are previewing former special counsel highly anticipated hearing all morning this morning what you need to know and how president trump is reacting all of that coming up. and then a hero victory the senate approves extending the 9/11 victim fund and going viral. check this out. back in a minute.
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welcome back good wednesday morning everybody thanks so much for joining us i'm maria bartiromo and it is wednesday july 24th your top stories right now. 6:33 a.m. on east coast, mueller on hot seat this morning, his highly anticipated testimony on capitol hill now hours away we're taking a look at what to expect this morning and who could be disappointed when all said and done another big day for earn this is morning with two big ones beau and caterpillar set to reporter that usually are market movers, of course, for boeing we're taking a look at the effect of the ground of the 737 max jet, bring in numbers and full analysis caterpillar does most of markets good indicator of china and global economy. ahead of earnings in mueller testimony futures this morning, are deathing lower open for broader averages dow futures down 7.3 and lower by 45 nasdaq stock rally ending day near session highs yesterday meanwhile pretty good day. take a look dow industrials up
up 177 points yesterday. thirds of one percent and s&p up 20 points and nasdaq higher by 47 at the closed on wall street yesterday if. in europe this morning take a look at the momentum and it is mixed they've got s&p 500 following wall street lower and 1%. the paris down 29 but dax index in yerm is up high per up about 30 points a round of weak pmi data out of france and germanypg down and boris johnson will become prime minister later today. in asia overnight most of the markets saw gain on renewed u.s. trade talks against south korea as you can see there our top story this half an hour is testimony of robert mueller. former special counsel bob mueller set to appear before the house judiciary committee in two hours time later appearing before the house intents community after speaking with the judiciary. president trump and house judiciary chairman jerry knadler
spoke out before the testimony. >> how about this whole witch hunt that's going on shall i talk it be for a second? first of all it is very bad for our country. makes it is very hard to deal request russia. and question should be able there's a nuclear power. they have a big country and we should be able to deal with them without having this artificial stuff. they interviewed 500 people listen to this, 2,500 subpoenas -- they did everything. their collusion, no collusion, they have no collusion. mueller investigation revealed a lot of conduct by the president which the american people should be aware of. the president and attorney general of systemically lied to the american people that were always in that report and no i've said no obstruction or collusion he was exonerated although three sames are not true. it is important that the american people understand what was in that report and that will
go from there. >> meanwhile robert mueller long time aid aaron will also appear beside the former special counsel he will not be able to answer questions but can advise mueller joinings us right now is former federal prosecutor fox news contradict tore andrew mccarthy always a pleasure to see you thanks so much for being here. >> morning maria. we've talked a lot it be this over last two and a half years first your thoughts on his aid -- being there with him zedli. i think it is a bad look for him and one of the wraps on it was that he was very staffed directed and that he was more or less a handsoff detached figure head while all of these staffers who, you know, are known for or notorious of being aggressive include activist or at least a lot of them did the laboring war on the investigation. so having this happen, i'm curious about why p he would allow it to look that way in terms of the substance of it i
don't know maria that it makes a lot of difference because he's been drengted to do what he really wants to do which is confine himself to the four corn percent of the report. so in that sense it should matter whether it is one guy two guy, ten guys -- doing the testifying. if all he can talk about is the report, the report says what it say. >> what about you bud former u.s. attorney how do you see it? >> you know, the first thing is there's nothing about the whole exercise i would like to hear if he agrees with me but there's nothing in the job that he did or job is that i did -- that involves providing congress with all of this data that you it derived in a criminal investigation using all of the e trucive tools we used special counsel in my view is turned himself into almost a fourth branch of government a truth commission, and congress allowed to grab that information for political
purposes. so you know, i think, i think whole process is flawed and is wrong but we're going to do it and i think fact that he has an add there and tun around and ask what page am i supposed to be on and ask the guy next to him. >> report written several levels below him. >> right and andrew wrote a good question -- how much, how much did the staff drive this and how much may be it was he even played because, you know, i really question the correctness of including volume two at all and i wonder if mueller was completely behind that or if he -- if he, you know, arbitrated a dispute on a staff and gave in. it would be interesting to know that but he's not gopg to tell anybody that today. >> andrew. i think the reason volume two is there is because -- the staff which ran this investigation did the probe under a different understanding
of obstruction law than what the justice department traditionally would follow particularly in connection with the president of the united states. and when attorney general barr was confirmed and took over at the justice department, i think it became clear that they were going through the justice department was going to insisting on a traditional understanding of obstruction which means there has to be tampering with witnesses or tampering with evidence you can't go after the president on on obstruction for exercise of his constitutional prerogatives, and i think for mueller's purposes that's where it broke down that's why you get this equivocation about well, i didn't charge him. but i'm not exonerating him. they investigated on a bogus theory, i think. >> andy touched on this it is dagen, a little bit but this is why -- mueller's performance today is so important. does he seem to have a good grass. of the facts does he come across
clear minded that statement that he made was -- a little off and awkward and it will raise the issue if he doesn't have if he's not in charge of the information, and can give a clear reason to complainings explanation why they made the decision they did he's going to run into problems and going to open a lot of doors for the republicans that they might not expect. >> real transparent, in fact, one thing that has become more and mother transparent is something john reported yesterday from the hill and that is the john team this is the person in charge of the origins of the investigation, investigation. he's looking to interview joseph, now he reportedly was passed receiving former trump campaign a george access to russian intel. dealing with hipght e-mails. back in may, george joined me on sunday morning futures and i asked him about his meeting back in rome.
listen to this. he tells you russia has e-mail of hillary clinton and this is the bomb that you feel was the whole reason that they wanted you to go to rome to meet him because they wanted him to tell you about these e-mails that russia had of hillary clinton. is that right? >> that's absolutely correct. i think this fern was some sort of plant -- >> wanted you to go back to tell trump about russia having hillary clinton e-mails did you do that? >> absolutely not. that was not my job. >> you told the the fbi you believe you met him in march when, in fact, you met him in april and that was the prnl so you went to jail for what? how many nights? jail for 11 night because of this after i had honey pots money thrown my way wiretap surveillance by foreign countries and then i finally get caught in a perjury trap.
>> you feel this was entrapment. >> absolutely i feel it was and i'm happy to see congressman devin muñiz in letter he sent to secretary pompeo gina to get more information on this person, because if it is indeed proven that this person was really entrapping or spying on me then a coordinated effort between various intelligence agencies include australian to extract fake information and spy on me with another hon pot in london with helper this is elicit behavior. >> and andrew this is really what we're talking about the origins of the investigation here's a guy george he was working with for ben carson pulled out of the race he then gets outreach on linked n from this international center of law practice. never heard it have but they reach out and we love you want you to come back he pulled out of ben carson campaign workings with month into it he gives him
two week notice. says i'm quitting i want to go work for donald trump and go join his campaign they say wait a minute before you quit we want to sending you to rome we have a lot of important people for you to meet one was joseph. >> i'm really glad that you're honed in on him because i think he's unexplored interesting character in whole narrative. another very interesting thing maria is -- molar team or at least the fbi i think before mueller was involveed fbi actually interviewed after they interviewed papadopoulos. he denies having told papp comet e-mail i mention this only because if there's one thing we learn during this investigation, it is that mueller knows how to bring a false statement case. >> incredible. wet no one brought a false statement case against this guy who story is what papadopoulos narrative is based on. it is important because if we
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guarantees ongoing funding for 9/11 first responders, this photo we're going to show you now captured we should say kind of awkward moment when mitch mcconnell passed jon stewart before that vote happened. mcconnell did not stop talk to stuart who, of course, has been a very outspoken advocate for 9/11 first responders. the stuart embracing john feel who was a worker at the world trade center site, and also long time activist. that was after the vote emotional pictures there. well offices company we work is looking to go public sooner than expected. they are aiming for september now. according to the wall street journal recently valid at 47 billion dollars in a private fund raising round. it was reported last week that cofounder adam newman took in at least 700 million from selling some of his interest in the company and taking out loans against his remaining shares we shall see. and in this is video, that i'm not sure tow ohio tow describe
this guy it has gone viral. a nine-year-old girl launched in the air and it happened it monday afternoon. caught on camera a big group of people on a trail that were walking probably a little too close to bison you can assume here not seriously injured but checked out with her parents. who i think is who is running away from -- the daughter in the bison. it takes my breath away. anyway. >> where are the parent? >> i think those were the parents that were running away. that's the point here that also they were on a trail with about 50 people you're supposed to stay a minimum 25 yards away from any wildlife in yellow stone so why were they that close? >> unbelievable. you say they stand around docile. >> they do. i've got my picture made in front of me -- most of the time you can approach him and they kind of stand there. but -- god how scary. be dangerous too. they're real live animals not disneyland.
thanks shale. big business with the six flags to company earnings to keep excitement fresh for whole family how they're spend money on these kinds of things. back in a minute. that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this but give them a cookie and a star.
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welcome back advertise season prl theme park, six flags facing some new competition reporting record financial performance last year, helped in part by a growing membership program company reported earnings earlier today a miss nernings. but a beat on revenue joining me right now exclues five fox business with six flag chairman jim reid anderson always a pleasure to see you. >> thank you for being with us. characterize the first quarter for us. >> a record quarter we saw
improvements across every metric from attendance revenue, and eps all growing between 6 and 8% best in the quarter history and i want to point out we finished our 9th record year so goal to head for number 10 and that's what we're working towards. >> terrific. very strong quarter so we have got a pretty good back drop in terms of the economy so that's part it have but you think partly because of the moin pray that many you've put in place. >> we have made a lot of changeses to our programming and in essence membership allow foam to get this value offering pay monthly, and we don't have to have them renew seasons pas every year they just stay with us. so membership now represents about 25% not reoccurring revenue about 25% of the total guest revenue grown, you know, from 20% last quarter so rapidly improving and that brings stability, and consistency and you know that's really important us to. >> now, the analyst reports this morning there are a lot of them
are focusing on international business, stock was down, after you reported because of that i think partly people are wondering what's going to happen with china. tbifn the china fight between the u.s. and china, and you're getting the necessary approvalses for the theme park there. tell us about it. >> so we have multiple parks across the world so in total 12 that we're working on 11 of them are in china and we are making progress in get those proposals. or have nicely so it takes while as you know with the macrocommitment issues there and trade fight that's going on and getting government proposal as local governments change. but we're making progress and we've seen improvement there. so question saw growth everywhere we saw growth domestically and internationally it was a good quarter. >> you pointed out to me during commercial break that even the international revenue portion is just a small portion of overall revenue. smg it is 3% of our total revenue when you look at nine record year, and very strong growth in the second quarter, i think we're set up for another record year. that's our goal certainly.
>> so have you been impacted at all by china u.s. fight? >> part of why we saw that impact towards the end of last year. but you know, when you look at our business maria we have 5 initiatives, international is fifth of the initiatives we're seeing growth in all of those initiatives very, very strong growth and innovation is in our dna we bring news in every park every year and done that again this year in our noters american parks with fantastic performance. >> i know you got to keep freshening it up. i would add one more thing which i think you know we have a dividend yield getting growth, we saw revenue growth of 8%. right think about this 7, 8% consistently. good number and on top of that a dividend yield of 6.2% think about that growth and yield fantastic. a nice good deal. chairman great to have you. great thanks so much jim reid anderson from six flag there. boeing and caterpillar among reporting quarterly numbers.
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maria: welcome back. good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is wednesday, july 2nd. your top stories right now, 7:0. mueller is on the hot seat today. his highly anticipated testimony on capitol hill starts in just over an hour. we'll speak with one lawmaker on the house judiciary committee this morning. another big day for earnings. dow components boeing and caterpillar set to report later this hour. for boeing, we're taking a look at the effect of the grounding of the 737 max jet. we'll bring you full analysis coming up. wall street waiting. futures indicate a lower opening for the broader averages. the dow futures are down 40 points, s&p down 6, nasdaq lower by 34. after a big day yesterday,
stocks rallied ending the day near session highs yesterday. check it out. dow industrials were up 177 points, two-thirds of 1%. the s&p was up 20 points, nasdaq was up 47. also two-thirds of a percent. in europe this morning, markets look like this. we've got another round of weak purchasing managers index data out of france and germany. the fq100 is down 76. in the u.k., borris johnson will become prime minister later today. the dax is higher in germany, up 48 points. in asia, most of the markets saw gains under a new u.s.-china trade talks, except south korea. the meetings will resume in shanghai next week. the justice department is opening and anti-trust review, what this could mean for apple, facebook, google and amazon. all those stories coming up. joining me to break it down, dagen mcdowell, mike murphy and former u.s. attorney, bud cummings. great to see everybody this morning. >.dagen: great to see you in te
new studio, maria bartiromo. maria: looking bright and beautiful, loving the colors. dagen: looks like morning. morning has broken. and it's always the news breaking. >> a lot of people, friends in new york support you and support what you're doing on the show and the studio is well served. mariawell hedeserved. maria: we have breaking news. ups' second quarter earnings just came out. lauren: double beat from ups. for eps, $1.96 a share. revenue better than expected at $18.05 billion in the quarter, the estimate there was for $17.97 billion. could be the stock is getting this 1.1% pop because they have -- they backed their view for the year of adjusted earnings of the range, 745 to 77 a 5 775 a. we are ordering a lot of stuff
online and ups is delivering it. next year they will go to seven day a week delivery, they will do that sunday delivery. their free cash flow, $2.2 billion. so so far, decent report from ups. back to you. maria: lauren, thanks so much. stock is up 1%. i guess this is an indicator for the overall economy as well. >> ups and fed ex had bad years year-to-date because amazon was coming in to handle deliveries themselves. yesterday saw a big move in fed ex stock and the anti-trust search now, looking into amazon, maybe they have to step away from certain segments of their business like shipping, would be a huge positive for ups and fed ex. maria: really a good point. dagen: coca-cola hit an all-time high yesterday on its results. there's a great story by tim higgins, a frequent guest on this program, in the wall street journal today. tesla reports after the bell today. the stock is down like double digits in the last year, 14%, up
45% since the low in june but tim's story looks at the number of registrations of the high end model s sedans and that sales of this high end sedan have taken a big hit in the california market. they looked at the number of registrations of the model s in cali, plummeting 4 plummeting 5e second quarter. this is hard core, serious reporting a and it's a window into what tesla could be facing down the road. maria: he's done a great job with tesla over the years. lauren, thank you, on earnings. we'll come back to you as we get more. the top story this hour is robert mueller testifying before two house committees today. hillary vaughn covering the story today. >> reporter: the
president tweeted this. democrats and others can fabricate a crime, try pinning it on an innocent president and
when he fights back they call it obstruction. wrong. why didn't robert mueller investigate the investigators? house democrats have
been preparing for this day, holding mock mueller hearings. they're finally getting their chance for a face-to-face with the special counsel, robert mueller himself. democrats already have an idea of what he is going to say. the special counsel says he is sticking to what he already published to the public, his report. >> i don't know that we are, but perhaps the media is setting expectations high. i mean, i said consistently from the beginning that what we will get out of this is mueller's words drama advertised becausete everyone will be watching. that's the most important thing. >> reporter: today mueller will face two committees, the first one at 8:00 a.m. and then at noon for more questions, he'll
go for round two in front of the house intelligence committee. mueller will not be appearing solo today. he'll have his deputy counsel, aaron zebley, who will be sworn in by his side. we expect a lot of fireworks as the questioning gets going. the special counsel is intending to stick to what is in his report. maria: hillary, thank you. we'll be watching. president trump just tweeted. he said this, it was never agreed that robert mueller could use one of his never trumper lawyers to sit with him and help him with his answers. this was not agreed to. the greatest witch hunt in u.s. history by far. joining us now is house judiciary committee member and freedom caucus member, an di biggs. thanks for being here. can you give us your sense of what you want to get from mueller? he says he's going to stick to the report. what do you think the judiciary committee needs to ask? >> well, we need to get to the
origins of this report, the conflicts that mr. mueller had. we need to find out when he determined that there was no coordination, collusion and conspiracy with the russians. those are important things. and he's going to try to limit testimony but he's a subpoenaed witness. he doesn't have the right to come in and just say well, i'm going to only answer questions i want to answer. unless he's going to assert some kind of privilege, i expect him to answer every question that's put to him today, including the ones i just told you about. maria: he's going to be asked about the steele dossier, what he did in terms of when he found that steele dossier, when he looked at it, what it did in terms of his mueller report, how much of that is in it. >> oh, absolutely right. and the origins of that, why he continued to get fisa warrants, why he stopped getting fisa warrants, all of these things are so important because they flesh out what was not put into the mueller report and we'll see
how it goes. but i think on one hand it could be potentially a big dud because if the chairman allows him to just say i'm not going to answer that because it's not in my report, it's going to be basically a dud for both sides. both sides won't get what they want to know and the american people will be left in the dark on this. dagen: congressman, bob mueller previously said that the report is his testimony and he plans to submit the full report as his opening statement. putting an exclamation point on that. but do the republicans, yourself included, run the risk that if you hammer him on questions that he clearly is not willing to answer, that you look bad and that you overplay your hand? >> well, it those be done in a certain way, dagen. you're exactly right. but i think we need to ask the questions because we need to also show that mr. mueller won't answer questions that i think all of us want to know. when i say all of us, let's just
face it. most of america has gotten over the mueller thing. but those of us who are still involved in this, we really want to know answers to questions like origins, when did you know there was no conspiracy, the fisa issues. i mean, these things we want to know and if he's not going to answer them, then we're going to make him say that out loud. maria: what about that? robert mueller takes over in may of 2017. may of 2017. you've got a whole year and-a-half. then you have the midterm elections. when do you think he figured out there was no collusion. >> i'm looking to when he quit getting fisa warrants and that was i in the fall of '17. i think he knew pretty early on that certain areas of this were not going to go directly to russian collusion or conspiracy. and that he switched his direction. look, he started looking at 10-year-old tax beefs for paul manafort, 10-year-old. and i mean so at some point they
switched their focus and really expanded their scope and stopped looking at russian conspiracy with the trump campaign. maria: i want to ask you about joseph missfoot in a second. we've done a lot of reporting on this guy. we've got a former u.s. attorney, bud cummings on the set this morning. >> i thought the congressman made a good point. i do anticipate that if you ask him those questions about things that aren't in the report, about the origin and the investigation, that he's going to try and say, well, i'm a prosecutor, you know, those are confidential matters and it's not in the report. but you make a good point because everything that's in the report is not supposed to be public. so where does he draw that line. this report should not be public, congressman. so how does he say, well,ism only going to address things in the report and not other things because he really can't defend the fact that we're all going to be reading allowed from this report today. it shouldn't be in the public domain. >> well, you're exactly right.
and so the democrats are going to turn it into a readers' theater which i don't think makes for good television if you want the truth. mr. mueller is going to try to say, look, i just did what i had to do. he's going to on one hand he's going to say this was unique, which is why we published this. and on the other hand he's going to say this is unique, that's why i can't answer questions beyond the report and what i told you. he's going to try to have it both ways, i think and i don't think that's going to play very well for either side. maria: ag barr has john durham investigating this and durham's team is looking to interview joseph missfoot according to john solomon from the hill. missfoot tasked with giving george papadopoulos access to russian intelligence, basically george papadopoulos met missfoot in rome and he drops a bomb on his lap by saying the russians have hillary clinton's. mails. i asked george papadopoulos
about that meeting in rome. he tells you russia has e-mails of hillary clinton's and this is the bomb that you feel was the whole reason that they wanted you to go to rome, to meet him, because they wanted him to tell you about these. e-mails that russia had of hillary clinton, is that right. >> that's absolutely right. maria: they wanted you to tell trump about russia having hillary clinton e-mails. did you do that? >> absolutely not. that wasn't my job. maria: you told the fbi, you believe you met him in march when in fact you met him in april and that was the perjury. so you went to jail for what? how many nights? >> i went to jail for 11 nights because of this, after i had honey pots money thrown my way, wiretaps, surveillance by foreign countries and i get caught in some perjury trap and go to jail tore 11 nights. it was ridiculous. maria: you feel this was
entrapment. >> absolutely. i feel it was entrapment. i'm very happy to see congressman devin new necessarye letter he set to secretary pompeo and gina haskell to get more information on this person, missfoot. if it's proven he was entrapping me, and there was a coordinated effort between various intelligence agencies, including the dia and australians to extract fake information and spy on me with another honey pot in london, this thing reeks of spying,en entrapment and illegl behavior. maria: what is the significance of finding out that joseph missfoot worked for the fbi? >> the significance is, this was the incident that started the whole wretched affair and missfoot is working for the fbi and we need to know why he was working there and why they set up papadopoulos. it looks like an absolute setup based on everything we've seen, both publicly and behind closed
doors and it looks like a setup to he m me and if this whole thg was started with bad false motives and intentions on the part of some people in our federal government, imagine what that does to a free republic, constitutional republic like we v whave. we need to stop it and get to the bottom of of it. maria: thanks for joining us. what are the odds that joseph mismissfoot turns up at the heag this morning. >> we would like for the american public to get the truth. regardless of what side you are politically. it could be you being spied on next if there's spying going on. dagen: andy mccarthy said this. we need to show to the american people that these tools like fisa warrants weren't abused because otherwise they won't be able to investigate terrorists. maria: we'll take a break. when we come back, big tech is under the microscope this morning. the dealt of justice opening an anti-trust investigation. we've got all the he details when we come back.
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maria: welcome back. borris johnson set to become british prime minister later today. outgoing prime minister theresa may taking her final questions this morning before formally submitting her resignation to queen elizabeth. joining me now is the executive chairman of s capital, martin sorel. >> new studio. some call borel borris johnson's britain's trump. maria: what do you think of him. >> depends on which borris shows up. probably best was when he was mayor of london. that was a good borris. he surrounded himself with a good set of people. we'll see what cabinet he deploys. he said the inside story, it will represent modern britain,
represent diversity in all senses. on balance, i think the pressure he's under -- he only has a majority of two or three members of parliament. so it's a very sort of difficult situation for him. he said we will come out of the eu on october 31st, certainly in his campaign to become prime minister, he clearly wanted to be prime minister. his central objective was to become prime minister. he got what he wanted. now he has to make a fist of it maria: will he have an easier time taking britain out of the eu than theresa may? >> i don't think so. i think he's in the same position. he has to wrestle with a new leader of the eu, already some criticism. they said we're not going to change anything in relation to the irish backstop which was the big issue that parliament was concerned about in relation to the agreement that theresa may negotiated. so i think it's going to be quite a fractious time.
he's an interesting character, very different from theresa may, very engaging and witty, quite an intellectual in his way. his speech yesterday was interesting in terms of direction and energy. maria: he's a real character. >> a lot of eq, iq and eq. i think i would be in the optimistic camp. maria: okay. >> fresh leadership, it's a new dawn, a new day. so we have to see what happens. maria: let me switch gears. you've been an advertising tycoon for a long time. >> mini tycoon. maria: you were the first to tell me about the threat coming from social media, from technology. >> now we're in the midst of it. maria: there's a crackdown to talk about, the department of justice opening an anti-trust investigation into the tech sector. your reaction to that. >> well, the crackdown as you put it has been going on -- eu has fined google three times i think it is, certainly i think three decisions in relation to
their competitive activity. so this issue around the tech titans really i think hovers around the problem of whether they acknowledge they're a media company. as you know, google hired i think 15,000 people to monitor editorial content, facebook hired about 30,000 people to monitor content. the essential issue from a media point of view is whether they're tech or media companies. when they meet market capitalizations of $1 trillion, which amazon has, which microsoft has, which apple has, it draws attention, particularly to the regulators, to their market positions and their potential dominance. maria: do you think they're media companies? >> i've always said they are. you went to cannes this year, maybe for the first time. maria: yes. >> i think eight or nine years ago, the very first question when i was trying to do the poor man's job of what you do, i said to members of the media companies, i said are you a media companies, they said they were tech companies.
maria: devin nunes is suing twitwitter saying they're a cont developer. >> i think they're responsible for the content. just in the same way you're responsible for the content here. they can't say they're digital engineers tightening nuts on the pipes of the digital scanners. let's be quite frank about it. the digital advertising revenues is where the growth is. the industry's about a $500 billion industry, about $300 billion in old media, so-called and $200 billion in new. and the new is growing at about 20%. the old is probably flat and in some cases down. maria: tell me about your new venture, s4 capital, what are you trying to do? you had a couldn't vee controvem wpp. are you trying to create a new wpp. >> we have a new era, new age model is what we call, four things. purely digital, that's where the growth it. we call a holy trinity model of data driving the development of
which drives the relationship with the consumer, with digital advertising content and then media planning and buying, delivered algorithmically. maria: good luck with it. very good to see you again. martin sorel joining us. boeing earnings are out in the next couple minutes, expected to report second quarter numbers momentarily, we'll have the numbers, check out the stock impact as well. back in a minute. ♪ oh, domino. .♪ lord have mercy. s. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity.
maria: welcome back. good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. we're awaiting earnings from two dow components any minute. caterpillar and boeing. boeing is looking at the effect of the grounding of the 737 max. the stock is up a fraction this morning. cat pill r later icaterpillar ia percent. it will give us a look at the
economic backdrop around the world. we'll tell you how it's impacting markets this morning. our top story this half hour are the earnings. joining us, fox business reporter jeff flock, bill baruk and aviation analyst gre mike b. lote m.what are you expecting of boeing? >> i think we're going to see a wider picture than just the max. remember, the max is just one part of their entire program. so it's affecting them. it's going to affect them big-time in the future. but we've got to keep in mind, there are a lot more things at boeing than just the 737. maria: jeff? >> yeah, i don't know that -- this is a huge pile of unknown at this point. it's uncertainty. i don't know that anything that you're going to learn today either from the earnings numbers or the earnings call, which it as 1030 eastern time is going o
dispel any of the unknowns. maria: you're going to get an impact of the issue on the quarter. >> well, yeah. here's your numbers, by the way. maria. we're looking $1.87 earnings per share and $18 billion in revenue. that's down 43% and 23%. so it's going to be bad. but i don't know that -- unless there's something way out of the box on this, that we're going to learn anything about when the plane will get back in the air and that is the big question. at this point, that's something we don't know and it's something that is weighing on the airline. they're burning cash right now. they're still making this plane and they're not selling it and they're not getting any money for it and that's a tough position to be in. maria: bill, weigh in here. what's your expectation? >> well, there is a lot of unknowns here many this is a black box number. you're going to see reaction here, ultimately the stock has been resilient. that's for the long run, i think that's great to see here.
where do the deliveries go, looking out, 42 a month, do they go up 57, do they go out better. i think we'll see future cash flow come in solid. that's going to be a positive. dagen: maybe we'll get clarity from the company. the companies has said it's hoping to resume deliveries of the 737 max in the fourth quarter. you erre heard from airlines and officials saying it will stay out of service until next year. so clarity on that front, on the conference call, would be welcome to say the least. >> i think a big thing here will be if they can kind of give us some clue on what their total liabilities are from this, if we hear anything about an update on what they're setting aside or what they see as the fallout from the plane crashes that we've seen and then talking about future, future deliveries of not just the 737 but other planes, as someone pointed out. the stock per for -- performed really well in the wake of all
this. some sort of good news would get the stock moving back higher again. >> are they still conducting an internal investigation? is that still pending? >> i don't think they've given the total breakdown of where they are with the investigation yet. maria: the company lost money in the second quarter. it is a loss and we are -- $5.82 a share is the loss that is just hitting the tape right now on revenue of $15.75 billion. the numbers are just hitting the tape now. real quick, jeff flock, your reaction? >> yeah, 15.7, that's a pretty good miss. we thought that might be a miss. the number was 18.5 was what the street was expecting so that's $3 billion less. that's a pretty good chunk there. you have eps yet? maria: the eps is a loss, yeah, of 5, 82. >> oh, wow. well, that's out of the box. maria: the stock is down 2% right now. lauren simonetti is looking at the second quarter numbers right
now. lauren, we were expecting a loss. we got it. looks like it's worse than expected. lauren: r worse than expected and the dow is down triple digits. we were expecting -- i'm giving you the expectation first for eps so you can see how bad the miss was. eps to decline about 48%. $1.87 a share. but we got an adjusted loss of a $5.82. also major miss when it comes to revenue. $15.8 billion was the number. the expectation was $18.55 billion. so these are bad numbers out of boeing right now. i know this is the largest u.s. manufacturing exporter out there with a profile that's much bigger than the 737 max. but that is the squeaky wheel and that's what everyone is focusing on right now. so we're going to see how bruising the grounding of that plane, boeing says they expect it and they gave guidance last
week, the grounding to last into the fourth quarter. maybe that will be pushed back into 2020. so waiting for comments on that. and of course the ripple effects that this grounding has on the broader economy. the carriers, the workers that are affected here. you're seeing boeing down 1.3% now and with that, dow is down about 90 points. maria: we'll come back to you in a second on caterpillar. boeing says this is a defining moment for the company and you've got new orders being pushed back as well, mike. this is really -- this has been a hard-hitting impact to this company. it was flying high, if you will, huge. >> for sure. we talked about before the numbers came out on what sort of guidance we would get and they're still saying they're abandoning guidance until they get this 737 issue figured out. as an investor, you don't want to put new money to work in a company where you have little clarity on where the company's going to be in the future. dagen: when the company says what does the look like, i don't
know, that's essentially what boning is telling you right now. maria: there's a miss on caterpillar as well. revenue and earnings coming in. it is moving the stofnlgt let's get back to lauren simonetti on caterpillar. caterpillar, lauren, is a real indication of the global economy. stock is down 2.5% right now. lauren: 20% of their shares come from asia. so here you go. the barometer for the broader economy is not looking good. the eps is a miss, $2.83 a share. the expectation was $3.12. revenue, $15.8 billion. that looks a little bit better than the expectation. correct me if i'm wrong, producer, the expectation was $14.4 billion. so those are the numbers coming out of cat pillar. it is down just about 3% in the premarket. together, caterpillar and boeing shaving 73 points off the dow. the dow would almost be positive if it weren't for these two dow components reporting just now. maria: yeah.
dagen: as viewers of the show know, i'm a huge nerd but i'll explain why boning ha boeing haa major impact on the dow. it's a price weighted index. the higher the priced stock, the s&p and nasdaq is not like this. the higher the price of the stock, the greater the weighting in that dow 30, and at last look boeing still had the highest priced stock in the dow 30. so when boeing he declines, it's going to have an out-sized drag on the overall performance of those 30 blue chips. maria: and caterpillar missing expectations also coming in with guidance at the low end. so what you're getting here is a situation where two major companies -- there's the 737 issue at boeing, caterpillar there's a global slowdown issue and china problems. both companies you're getting a situation of uncertainty when it comes to what's ahead. >> when you look at caterpillar, the stock will actually be in what's been a strong year for the u.s. markets, the stock will
be down when it opens up this morning for the year. so again, if you're making an investment in caterpillar right now, i think you're making the bet that you're going to have a global recovery and large orders coming in for their products and i think it's kind of tough to predict that right now. maria: what do you want to do as an investor here? you want to wait, take the sideline as you get more information in terms of what's ahead? this stock is now down 3%. this is going to take other names with it. >> on caterpillar, i think there's so many other areas that you can focus on where you see growth. you can look to technology for growth and caterpillar, i don't see the growth there and i don't know when that story turns where the global macro picture gets better and caterpillar's numbers pick up. i wouldn't be a buyer of caterpillar. boeing, if you shift back to that, i haven't had a chance to go through the entire report. there must be something more there to boeing. on just the headline numbers you're getting you wouldn't see a half a percent decline. i know it's early. there could be a bigger reaction
to the stock price. maria: do you think they have a plan in terms of fixing what went wrong with the 737? do you believe their answer and solution to the next crop of planes? >> i do, for sure. look at boeing historically. they built great planes. the global orders, although they're not there for caterpillar, global orders for large air crafts are there. there's massive demand. that was the story behind boeing, was they would sell a lot of planes in 2020, 2021, 2022. this isn't something you wake up and decide you're going to order a 757 plane. these orders are out there. so you could look at boeing and say harks they're going to be selling planes for a long time. now that uncertainty is there. the 737 mess caused uncertainty. but i believe boeing is a better story than caterpillar for investors. dagen: a lot of this falls on regulators which boeing lays outs in its earnings statement. it's saying that regulatory authorities will determine the process for certifying the max
software and training updates as well as the timing of lifting the grounding. >> i can tell you from a legal and political background, they're going to do an internal investigation. they're going to uncover mistakes that were made, probably technical defects of software and/or more likely training shortcomings. they'll have to set aside money for victims. the question is how long does this take and the regulators are going to have r their finger on that pulse. they're not going to let that go to the place to punish boeing where they start having massive layoffs. maria: they'll go to airbus. >> the question is at what point does it become a value to buy it. maria: mike boyd, weigh in in terms of pushback of orders at boeing and when do you expect stabilization in terms of new production? >> end of 2020, to be very blunt with you. right now, today, we have over 500 airplanes boning is going to have to -- boeing is going to have to deal with when regulations are changed.
500. 200 they produce, 350 out there. it's going to be huge to get them back into the system. it will be hard for airlines. it will be like another production line. you're looking at this disruption not ending until probably the end of next year for boeing. dagen: wow. maria: bill, go ahead. >> they need a strategy change. they're going to have a strategy change. they're going to improve on this. i think when you look at the stock, the resilience has been there. ultimately, from my understanding, the software that was put into these planes made the pilot feel like they're in a smaller jet. so ultimately i think there's a strategy change. they're going to roll out changes here and they're going to improve on this. the stock itself has been extremely resilient with all of the head windwinds ahead. if it's only down 1 to 2%, i would imagine it goes lower. there's nothing to do here. i said before, this is a black box reaction and you're going to see additional selling once the market opens and if it can continue to be a resilient stock, i think you're going to
see ground work technically and one of the best things i like on a technical basis is a fundamental rejection. if this cannot go much lower and people are looking out at seeing potential good news, then you've got a good technical wave that could come from that as well. i think that's what you want to look at. there's nothing to do right now. as you look into the next 24 hours, into the week, if we hold ground, a that could be a great sign going forward. this is a bad number. don't misinterpret that at all. this is a bad number. the fact they didn't put new guidance out there is going to leave people sort of intrigued going forward. maria: it's interesting to see this really benign reaction to this miss. and the stock has really held up well, up 15% year-to-date or so, bill. so should we be reading into this reaction of a flat performance, down just 35-cents, as a positive in terms of what's ahead for boeing shares? >> certainly, yes. it is a positive right now. let's see how it is when the market opens and people are
coming in and trading this. if you take a step back, boeing tracked the dow this year. it's underperformed aerospace. again, i think there is room to the upside broadly speaking going farther out that it can regain where aerospace is up 30% on the year compared to the dow just being up 20%. if we see some good technical groundwork here and holding ground and lack of selling, you could see a lack of selling after bad news like this and you get the feeling that everybody who wants to sell has already sold and from there, the buyers step in. maria: i understand that boeing has a huge impact on the dow and markets ' and it's a very expensive stock. i think the more important number in terms of impact is caterpillar this morning. caterpillar stock is falling out of bed, down better than 3%. let's see where it is right now. maybe it's off of the lows. it had a miss in connection stations on earnings, revenue, also weak and it's the guidance that has investors unnerved this morning as well. low end of guidance. i think caterpillar is going to have much more information, much
more indicative of what's going on in the world today. boeing's a specific problem. >> agreed. however, when you look at the management of both companies, investors will have more faith in boeing's management versus cacaterpillar's management. wall street doesn't trust what's coming out of caterpillar as much as what they trust coming out of boeing. i think you could argue that both give you a read on the global economy but you would expect a better read from boeing. dagen: and caterpillar's more vulnerable to the global economy, correct? boeing at least -- if you believe in the management, then they will fix this problem. that they're in control of their short-term destiny. caterpillar is at the mercy of the world, really. >> i'm told anecdotally by a pilot, they love the airplane.
dagen: i heard from another pilot, they suspect one of the reasons the stock has not reacted more, is pilots who have flown it think it is a training issue, not necessarily all on boeing's shoulders. maria: jeff flock, do you agree with that. >> yeah, i was going to say, one thing about boeing. the wisdom on boeing had been boeing and airbus, these are companies you want to own because they're the big magumbas in the air world. china's making planes, russia's making planes. the japanese are in there. there could be competition down the road. there could be other players on this. in terms of a long-term hold, maybe boeing is not the solid one that you thought it was. dagen: you know what? an american company isn't going to come into your country and steal your intellectual property and steal your information. congress is putting the hammer down on buying railcars from china. again, because of the backdrop, because of what president trump has done, i don't mean to die
dress but shining a light on huawei and what huawei's intentions are aroun and what te communist government's intentions are around the world, in terms of stealing information and stealing intelligence and trying to dominate the globe, maybe china's aircraft down the road ills not really the sales force that boeing is. maria: no wonder they've got their own aircraft now. they've been studying boeing's technology for long enough. they've got the whole model and know how to build it and they're doing just that in china. >> but they won't be a buyer anymore. maybe they'll be making their own aircraft instead of buying from us. maria: i would push back on that. i think they're probably going to be buying some, maybe not as many, but to rely only on their chinese aircraft and not on boeing i think is a stretch. i don't know. we'll have to see. >> not yet. maria: not yet, exactly right. >> a long way. maria: jeff, bill and mike, thank you, gentlemen. president trump just tweeted.
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why didn't the highly consistenconflicted robert muelr investigate how and why hillary clinton deleted and acid washed. mails. she must have great lawyers, writes the president. let's not for get, those 33,000 e-mails never showed up and we know that hillary clinton used bleach bit to destroy her devices. i think there were more than 10 devices at one point she used a hammer to destroy them. >> i've never -- i'm not familiar with any federal investigation where anybody around the investigation was a target destroyed evidence on a wholesale basis like that and was not held accountable. that seems to be an automatic -- contrast that with 200 pages about obstruction where he had the legal authority. maria: exactly. that's what i was saying. today we're talking about obstruction of justice of donald trump. >> crazy.
maria: the house overwhelmingly approves a bipartisan resolution opposes a boycott against israel. cheryl casone has details in headline. cheryl: the symbolic vote didn't have the support of three progressive democrats, representatives ilhan omar, rashida tlaib and alexandria ocasio-cortez. omar compared the anti-israel resolution to boycotts on nazi germany and the soviet union. shares of deutsche bank under pressure in the premarket after germany's largest bank posted a second quarter net loss of $3.5 billion, stock down three and a quarter percent right now. the number due to a massive restructuring program aimed at returning deutsche to profitability. they said they've been trying to separate themselves from jeffrey epstein in the wake of his arrest on sex trafficking charges in the united states. epstein has been a client since 2013. back to you. maria: thank you so much, cheryl. coming up, parents pay attention, the facebook messenger app could be letting your children talk to strangers. details when we come back.
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maria: welcome back. we want to show you this video, just moments ago robert mueller has arrived on capitol hill. of course, he's testifying today in about 35 minutes in front of the judiciary committee and then in front of the house intel committee. we're going to take that live and we are talking about that going into this hearing, robert mueller now on capitol hill, has arrived at you saw those pictures and we'll be beginning -- will be beginning his statements for this testimony coming up on capitol hill. it begins at 8:30. we'll go into the 8:00 hour this morning with an all hands on deck approach with fantastic guests. meanwhile, we're looking at the other big story of the morning and that is technology, big
anti-trust investigation. facebook is under fire, design flaw on the messenger kids app allows children to join group chats with strangers. this app is supposed to green light communication with parent approved users. joining us now is the cyber guy kurt knutsson. the big story of the morning is that ag barr started a new anti-trust inquiry into the technology giants. this is a separate situation here with this app. tell us about it. >> we've got a lot of eye balls heading to facebook for regulatory issues and the fines and investigations that go on and here we are again with mark zuckerberg getting an upgrade with this -- getting an f grade with this app violation where the messenger kids app allowed for -- again, just sort of like in the back seat was the idea of how this should operate and while facebook calling this a technical error, the fact is, your own kids would be able to meet and speak with strangers in
a group chat of friends of friends that you, while it said you should approve them as a parent, had no ability to approve them. so facebook said they fixed the problem at this point but guess what? will it affect the stock? probably not. maria: we'll see if this investigation affects the stock and the entire industry, given the fact that this is a deep dive, according to the ag and the wall street journal this morning. >> we'll see effects of that. you look at the $5 billion fine from the ftc and $100 billion proposed fine from the s.e.c. e we're talking about a bump in the road for facebook. this is meaningless to the company generating the revenue they are an. maria: kurt, thank you so much. kurt knutsson joining us there. all eyes on mueller, all hands on deck here, the former special counsel going before lawmakers in about 30 minutes. we've got live coverage right
financial advisor can do for you. bartiromo wednesday, july 24 top stories just before 8:00 a.m. on the east coast, breaking news this morning, robert mueller on the hill the former special counsel has arrived on capitol hill, he arrived moments ago testimony will kick off in 30 minutes' time we have full coverage going to take is right into that testimony, with live guests on the inside earnings the focus on wall street this morning, boeing reporting a big earnings miss caterpillar also missed expectations, the company seeing cooling demand in asia-pacific region that is certainly moving markets, caterpillar shares down better than 4% boeing down a fraction dow industrials o toll on dow both dow components dow futures down a third of a percent low of the morning s&p
futures down 7 points nasdaq lower by 28 in europe bad date the purchasing managers next out of germany weaker than expected that nonetheless, dax is higher this morning, up 38 points, because i think investors are surmising this is going to mean more stimulus germans can do it basically negative already maybe will buy equities like predict told is from blackrock a week ago ft 100 down 68 cac quarante down 21 dax up 36 i told you about the weak pmi out of france and germany uk, of course, boris john will become new prime minister today, trouble big technical antitrust into tech what that means for facebook facebook, amazon apple coming up to break it down fox business network dagen mcdowell, rosecliff ceo managing partner mike murphy former u.s. attorney bud, great to see you. >> 30 minutes away mueller
testimony takeaway what do you want to look for hear from mueller dagen what do you think dagen: i think going to stick to script to the report, and the democrats are going to get paltry little out of bob mueller trying to approve different things "the wall street journal" goings into this today the democrats want about to push mueller into saying they are parts of the trump-russia story he didn't investigate, money laundering the like, and they also want to get him to basically give some more information about the issue of obstruction of justice again he has stayed stated report did not exonerate president trump not proper standard for prosecutor issues pointing out. >> that is correct the report, is not in the language of a prosecutor and in fact, prosecutors don't write reports like that prosecutors investigate, then indict and public can see what the
information is in the indictment then a trial -- public -- >> or decline to prosecute write a defensively memo to supervisory goes in file public never see you want that because you might get investigated one day you might get investigated they are going to use, highly intrusive tools going to use grand jury, fbi agents to friends colleagues, threaten them with prosecution make them tell, all your dirty secrets if they don't find a crime you are entitled to not have that information in public. that -- that course horse left if barn they have written the report interesting question biggs raised we expect him to not answer questions how will he explain why he should not answer about the tor gin investigation, but he did break all the rules by putting this report out. >> exactly. >> does he get the arrogantly drawline about what he is going to release what he is
not nonshould be out. maria: is he not going to address at all the fact that there was obviously, fisa abuse? and here again, the the same point you brought up if somebody sko just decide to wiretap page and george papadopoulos trump campaign people then what is what is -- you know what is them from stopping investigating you or me wire tapping me our? that is the point that is why everybody on both o sides of the aisle 2 be outraged by what cabal did in 2016. >> dagen points out democrats want something out of mueller but i think just as much republicans are wanting so much out of mueller if you can look past the -- separate sides of the aisle just say in united states of america, you don't want people abusing power to for their own or for their political party agenda, so he hopefully we get something out of that where we can learn and move forward. >> former special counsel robert mueller testifying in 25 minutes before lawmakers
hillary vaughn on capitol hill this morning, we just saw robert mueller walk through obviously, getting set up to release opening statement 25 minutes. >> he walked past our camera made his way into the room, around the a few fox poll shows 49% of voters say there is zero chance that what special counsel robert mueller says today could change their mind, about the president, only 23% say there is a small chance, that his testimony could sway their opinion, the president getting some early shots, at mueller this morning on twitter tweeting this moments ago it has been reported that robert mueller is
saying that he did not apply an interview for job with fbi director and -- the day before he was wrongfully appointed special counsel hope he doesn't say that under oath in the -- we have numerous witnesses to the interview including, the vice president, of the united states, he continued to say "no"
collusion no obstruction house democrats hope to dig more envision out of mueller in haergz but may be disappointed because yesterday doj released a letter truck struck instructing him to the to venter outside the report months ago, nadler called the move arrogant adam schiff said he does not wanted mueller to abuse executive privilege to dodge questions that they may ask but the top republican on house judiciary committee doug collins wrote in op-ed in "new york times" this morning his fellow democrats on the committee are desperate writing judiciary democrats have built their investigative strategy around this hearing, for emphasis on this event reveals they have not got no other cards to play than one attorney general william barr handed them april 18, the report itself mr. mueller said was his testimony, now we are expecting to hear to get started 25 minutes from now, maria, we're expecting a lot
of fireworks. >> sure are back to you hillary there at opening of the door, to this hearing, which is, of course, in front of judiciary committee and after that intel committee markets watching mueller's testimony closely joining us right now cfra research chief investment strategist sam stovall the world on mueller as well as earnings how important is mueller for the markets. >> i don't think important basically great for headlines no affect on bottom line. >> a bottom line from adequate pillar and boeing reaction. >> my reaction boeing is the if company can get planes back in air by fourth quarter will be a positive that is why we really do don't see much reaction, to the boeing announcement, built caterpillar i think is a different situation, in a sense shows that a lot of international stocks are being plowed under by this china trade dispute, and has greater impact on global growth. >> how do you see it mike, boeing reporting a miss a loss
on earnings lost money we were expecting that also miss on revenue then the agained is just not telling you anything, in terms of when they are back you make a really good point sam if they can a stimulatiai s stimulative trading at 370 on back of a huge on earnings a muted reaction i think tells that you people want a reason to hold on to boeing caterpillar different disappointed street a long time, but i get asked a lot can market make new highs from here my answer typically is yes, but if you want a reason for sell-off, two big few biearnings misses coupled with a government investigation, into the real growth areas in the markets i think that is what concerns me the most is how much is the government going to ghost big technical, that is obviously -- >> you have -- and going into this week microsoft, apple,
amazon facebook represented almost one-fifth of performance of the s&p 500 you have most those companies now, staring at justice department inquiry or review into potential antitrust practices dominate if you look at housing market i don't think you can discount that the housing numbers on existing we get new home sales today i think he existing home sales were down fell 1.7% in june slumping year-over-year for 16 straight months -- and a given, even these rock bottom line interest rates are not helping, that cannot be particularly with new home sales have a bigger economic impact, when someone buys a new home because of construction it goes into it. it is -- it is worsened maybe federal reserve maybe they do something more than a quarter point now. >> maybe, the international money is gone right from housing, i mean for a long time you have russians
oligarchs buying. >> an important read whether recession every recession since 1960 preceded by a double-digit decline in housing starts, we are at a single digital decline year-on-year i call that a faint yellow light in traffic signal of economic reacting, but in terms of ask consumer confidence which is a better reflection i think what with a housing is, still in a positive camp and likely to show stronger number when reported later this week. >> what about mike's department of justice opening antitrust probe likely affecting google facebook apple where growth in the market has been. >> sure. >> that reverse? >> well i know i scratch my headed say this isn't new why is technical out performing the pashth by two to one margin whether one month, three month, six month trailing, so yes, maybe if it
forces some sort of a move out of tech, the real question is, will investors rotate or retreat? will they rotate into other areas of the market such as materials, in energy areas have been beaten down or just step to the sidelines. >> quick before you go, in terms of earnings are companies of you seen beating the lowered expectations. >> absolutely. >> -- fool me once shame on you fool me 29 times shame on me could be 30th consecutive quarter results exceed end of squatter estimates. >> sam stovall joining us there mueller's house hearing said he would not testify, but in just under 30 minutes from now, about 20 minutes former special counsel will in fact testify, he is in the hot seat on capitol hill special coverage live right here.
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about to appear before the house judiciary committee and then before the house intelligence committee president trump and house judiciary committee chairmen jerry nadler spoke out ahead of testimony will happen in 15 minutes watch. >> how about this whole witch hunt that is going-o should i talk about it for a second? >> first of all, it is very bad for our country. makes it very hard to deal with russia. and we should be able to they are a nuclear power they have a big country. and we should be able to deal with them without having this artificial stuff they interviewed 500 people. listen to this, 2500 subpoenas. they did everything. the collusion no collusion. they have no collusion. >> mueller investigation reveals a lot of conduct by the president, ch the american
people should be aware of. the president attorney general have systematically lied to american people about what was in that report said no obstruction no includings totally exonerated all three statements not true it is important the american people understand, what was in that report, and then we will go from there. >> robert mueller longtime aide will appear beside former special counsel not able about to answer questions but can advise mueller joining us right now former senior adviser to the clintons, president managing partner mark event fox news senior judicial analytical judge napolitano, christopher bedford thanks for being here on important day mark let me kick off with you expectations for robert mueller what do you think we will hear? >> well, i think politics and not law on display this morning, i think i think each side tries to score points i think if robert mueller follows the doj guidelines,
you are going to have some very frustrated democrats and republicans, i think if he does that just going to refer to pages in the report, and when people ask him why did not do you this, or why did not you do that he will say that is deliberative privilege if he follows all that i think a big nothing burger a lot of furious people from congress otherwise he has to give them something depart from guidelines we don't know where. maria: what about the simple questions like, you know, did you read the dossier how much of the dossier did you look into in terms of writing your mueller report who are did you know that there was no collusion? whoosh the fisa abuse can he just blow off those zbheez according to the to the way i read it maybe the others on your panel disagree that is deliberative process. >> all of that stuff except that is in the report, is privileged, and, therefore, he can't comment on it.
maria: judge. unless he is going to break rules. >> i agree with a lot of what mark just said, this is a political experience not a legal one there is no judge there to rule on questions, when there is on a objection. the question is will maybe lawyers are essentially not like my colleague here essentially politicians trying to score points at home rather than lawyers trying to extract evidence from a -- a reluctant witnesses but my own view is that bob mueller, you know the marine that he is will probably do the right thing, and comply with regulations even though i don't think he has to is no longer employed there there is little he can about say under oath short of lying for when could be prosecuted sueds disciplined or otherwise harmed by doj he once served so if democrats pull a rabbit out of the hat, we look at steele dossier, found some to be credible then they have their headlined but if they don'tpull rabbit out
of the hat does at mark pence suggested might do points to vaishz pages of the report i understand available on a screen for powerpointing, people will fall asleep. >> yeah. >> a bob mueller holds the record for the number of congressional committees before which he appeared this is his 90th appearance he has done 89, probably smartest person in the room, so i don't think anybody is going to talk him into saying anything he doesn't want to say. >> chris weigh in here. >> i think if democrats maybe memo run they are hoping for, is that they can get him to say mueller to say he would have charged donald trump were he not president with obstruction of justice if they can get that out of him got close to, on press conference talking to congress that will be a home run but unlikely, and for republicans their home run is finding out what exactly what scope of this investigation why did i got so long. why did you only get parameters from rod rosenstein if you have been investigating two months after you started
arresting people raideding paul manafort's home parameters were set when did you find out no conspirators no criminals conspirators why did this go two years as opposed to one. >> exactly right midterm elects came in with everybody's heads on fire whether or not there was includings. >> i remember you and i discussing reporting at that time made it pretty apparent the they are had started to fall apart, so -- look -- >> the democrats have -- shown chairman nadler's statement they are going is to go misrepresent what happens no matter what happens today, they are going to get video clips, of robert mueller -- i am almost certain going to point -- circle they think sound bad m him read it vice president and replay over and
over. >> i think we are in agreement that is political adventure not a legal one, it. >> is political for two years. >> it is of no legal moment what he says, here, because each side will try and get sound bites to help them, you inherited an investigation that you know was started, by fraudulently material presenting to judge in secret did you correct that fraudulent material how is he go to go answer that chris is right the grand slam bottom of 9th 7th game of word sears for democrats isn't it try you found evidence of obstruction had he not been president had been private citizen triggered an indictment if he says yes they have rabbit out of the hat. >> of what. >> obstruction of the investigation the attorney general has a very narrow view of obstruction, the obstructor must have committed crime being investigated, if that were the law, then nixon would
have one a watergate burglar that is not the law barr's view probably coming out with a what is intruobstruction probo through that again. >> all democrats want to talk about this morning the fact we still are looking at a serious investigation, into how thank you russia investigation started. the origins of the investigation is the real nice, that is what we've been covering 2 and half years if he doesn't start coming on clean answering why they entered the donald trump into russia meddling i don't think anybody is going he to be happen -- >> nothing in report about origin if he sticks just the to report he can't answer questions. >> but the whole point is the origin. >> i agree. >> that is the story. >> how could he -- >> this is where there was crime. >> how it could be investigated not have information that he should if he is going to share what he has shared, how can he justify withholding knowledge he must have he couldn't have gone through this investigation without knowing -- >> if he shared investigation
of origins with attorney general not sharing with public until the attorney general's own investigation of some of his former colleagues and fbi doj is -- >> the inspector general review horowitz john durham review two reviews looking at brieled speaking evidentiary basis of the investigation people behind it. >> judiciary lindsey graham. dagen: indeed bob mueller has to answer republican questions about the team that he assembled people donated to democratic candidates fbi agent peter strzok on team the lawyer his former lover lisa page what does he have to say about that their conflicts. >> about. >> good question. >> what when did you find out about these text messages. maria: right. >> what did you do what did you do you describe the conversation with peter strzok when you got text messages by
the way inspector general did you go them up. >> what do you think was the insurance policies that peter strzok was telling girlfriend lisa page about chris you have written all about this. >> exactly, peter strzok is saying right now that always maintained that mueller never mention anything about text messages when he was released from the team. which is kind of dubious in and of itself seems like that is the main reason for having released him, and he is also the person who kicked off the investigation, to look into the president, but i agree, with everyone here on panel that we are probably not going to be able to hear anything about origins, one thing might be able to hear i am doubtful of that that mueller proves of attorney general investigations into the origins of this investigation, he thinks that is warranted, but i still think we are not getting much out of it both, the democratic party trying to push that robert mueller reading children's stories in news five hours or reading the report is going to change
anyone's mind change any votes, unlikely. >> [laughter] >> again to shift public sentiment what 21% in the recent "the wall street journal" poll found people in favor 21% in favor of impeachment proceedings favorite quote in all this from william howe teaches political science university of chicago said mr. mueller's remarks might not shift public sentiment the manner in which he speaks is quote vague cryptic at times convoluted. maria: bys ziby design you raised in a humorous way bob mueller speaks as if words roasted by a court the words are measured so that if he us in another forum under oath justify them he can do so -- >> secretary mnuchin talking to reporters see what he has to say treasury secretary. >> so in negotiation i think,
you know, this was is good a deal as we were is going to get we held expenses to 2% a year going to have revenues 4% a year. president protected the military and veterans very important, we have an increase that is in line with inflation -- and, we also got a 2 1/2 year debt ceiling protected on no riders no poison pills president wants to keep cost two o open maker military is protected, we got all those issues done. >> -- long-term connect in short term what are expectations for next week with discussion, with china and then, in the long term, now that both sides are talking again, what is the -- the callendar look like. >> good going back there going to do shanghai at their request for symbolic importance to them of shanghai communique with kissinger i
think important step they are sincere want to go move forward. very important, back in the marks, buying agriculture they made those commitments to us we want to see commitments fulfilled my expectation is there will be a fee more meetings before we get a deal done i wouldn't expect to resolve all issues but the fact we are back at table direction of two pats, is important. >> can i follow up on that was there something specific that led you and ambassador lighthizer to schedule to go back to beijing on monday? >> -- >> i think we have the expectation coming out of the g20 that negotiations will start again, we have two -- i think as we said before polls are important but really no substitute for in person, china came here last time so it was our turn to go back so i think really a question of scheduleing issues my expectation is a follow-up meeting back here, shoeflt
there after assuming things go as we expect -- >> the meeting that you expect -- >> there is a lot of specific things -- >> again i am not going to comment on different things but we have a lot of about issues i think you heard the top line, he forced technology transfer we want to make sure back buying products competing fairly with us a long list of issues. >> on -- >> excuse me i am -- from uk, has the president prime minister to being spou y-- to you yet? >> i don't know the answer on both, i know -- -- the uk object there i know that they met when they were in uk last time and we look forward to working with the new government, uk is one of our closest allies very important long-term relationship i look forward to new prime minister
getting a -- a deal done, one way or the other, and, we all want to move -- >> -- the. >> again whatever they want to do that is up to them whether they have a deal or have no brexit -- >> i think we look forward to their committed to getting this over with. >> one last question to clarify what you said in the interview does president believe 737 max should be scrapped in favor of the 7, and bring back 757? what is his view on 737? >> -- the president has no view as to whether 737 max what they should do other than need to fix it if they are going to fly it get approvals the president likes 757 thinks a great line whether they want to do that in addition to -- to boeing, decide i think the post important issue is boeing is a very strong company a lot of cash flow, they got to fix this issue, so that we are sure, that it is safe.
>> thank you, everybody. >> appreciate it. >> [siren]. maria: treasury secretary mnuchin speaking to reporters talking about the debt ceiling pretty pleased about the deal that they are getting will markets be pleased what is your. >> markets are pleased i mean sitting right at all-time highs this is one thing could have been another potential negative or uncertainty for the markets now that you can look out we won't have to have that discussion again for over two years, big positive for the market. >> no more there is no such thing as fiscal responsibility two more years of nothing of that no trade-offs as "the wall street journal" reports, again, this is the biggest mistake by president trump according to james freeman this is his biggest failing in terms of his presidency, where he is making -- >> trillion dollars a year, in debt. the same guy said he could eradicate debt in 8 years now adding more to it than at faster rate than any president in history. >> promises to not such sz
social security and mooishgd you can't fix deficit without fixing social security and medicare, an issue after this election i believe he will attack it second term. >> i totally agree. >> if democrats get elected we are going to accuse them not addressing the deficit so it will be an issue, after the election. >> talk about about other important story this morning that is facebook being find, the ftc said massive approximate on facebook of a privacy issues as well as sharing data, jackie deangelis. >> good morning to you that is right a 5-billion-dollar settlement with ftc facebook largest civil pent ever paid to the ftc what the ftc is sighing here is that facebook violated a prior order from 2012 concerning privacy issues and that is what this fine relates back to what is really interesting here a privatization committee has to be set up, that committee has to be independent ceo zuckerberg has to certificate
that the company is complying with rules that is on a quarterlied and annual basis, if he makes false statements he would be subject to criminal and civil penalty himself so zuckerberg taking on a lot of responsibility here, and doesn't just deal with facebook but also deals with what it says app instagram any products that facebook my offer a couple other privacy restrictions included in this facebook is banned from using phone numbers to enable security features facebook must exercise greater oversight on third party apps that it worked with it must provide clear conspicuous notice of facial recognition if going to us yoo it prohibited from asking for e-mail passwords for other services connected to in interview ftc commissioner said the order creates a robust of checks and balances spreads responsibility accountability for consumer privacy maria largest civil penalty ever today pot ftc 5 billion
dollars, this is a huge amount of money talking about, and huge in terms of setting the stage on the scope of what is to come in terms of social media companies and privacy issues. >> thank you huge fine that facebook is facing judge, also part of this other bigger story where at the attorney general, has started a new antitrust inquiry into big tech. >> this is an inacquire by administrative agency even though an administrative agency still federal government, it is hard for me to take seriously the federal government fining an intent tor violating privacy the federaling is biggest violator of privacy on planet nfrls this is what they do five billion a lot of money a drop in the bucket for facebook the reason so high is this is an express violations of agreement previously entered into you can get away with one but violate an agreement that that already restrains you he that is already in place, they are going to come down on you very hoard. as for the attorney general's
investigation, announced yesterday, some sort of -- anticompetitive investigation, on in how i shows harmless to queries facebook free google free no harp to the consumer. >> the conversation, judge. >> they can do that not the government so they can sensor anybody they want -- they can do it. >> google has 90% market share so if google has 90% market sharper in search they are the big kahigh ona on search if they are putting, certain headlines in search if i search donald trump getting all ugly headlines i search hillary clinton getting hill hi hill super star best thing since slide of bread that is censoring information? >>s it is. >> anding using 90% market share it is -- it is lawful if you don't like that use another one first amendment -- >> i have a question not answer about you know, slanderous material if
somebody gets on one platform and commits slander per se, i complain against you you complain about me i take it down what is liability. >> very good question, i will tell you -- >> suing twitter. >> i tell where you that door is opened if amazon sales product from a third-party vendor, harmless somebody third batter vrpd doesn't have insurance goes out of business amazon can be sued for the first time supreme court ruled on that about a month or so ago, that is opening the door to litigation over this. but -- but -- doing something to google you don't like their politics the answer is, find something else -- >> that is doesn't fly if media company. >> why? >> protected by first amendment. >> but they are saying. >> come after fox because it dominated certain viewpoints. >> in fact they are creating
content devin nunes suing twitter about create content cannot call them a text platform jooir under the law companies are not considered media companies they cannot be sued for defamation that was a law passed in mid 90s, really at very beginning of the growth in the internet. >> that is going to be for reasons articulated reexamined this is the wild west whether or not you can accomplish something you know is false, one thing for them to say napolitano doesn't know what he is talking about if they accompli publish something they know is false serious issue. dagen: i want to add one thing to what judge was talking about two separate stories in "wall street journal," that justice department, the broad review of the bike tech companies for -- into antitrust issues, and another story in "the wall street journal," mentioned earlier on the show apple dominates app store search
resul thwarting competitors audio book, other companies developers -- unfair apple says soi.h well our algorithm doesn't into that how many times have we heard that. >> the algorithm apple put up apple store invested time and money into apple store i think the argument can be made they can promote their product, and judge was saying if you don't like it, about as a developer, you can choose to only serve put your product on android, google's platform i think ultimately thing will be for the big tech companies like if you are aware you the public know, you go on google you search for something, you are going to get a -- anticonservative buys or left wing type bias then you may choose a different search engine i think the ultimately thing here will be them policing themselves and if apple is going to promote
their products above someone else's now you know about it, but you can choose deal with it go elsewhere. >> lynchpin of all criminal antitrust prosecution is was the consumer harmed if government can't show harm to consumer doesn't matter apple faerz its own products. >> devin nunes was harmed. >> that is not criminal, now -- >> he was harmed, techs -- >> whether devin nunes was harmed irrelevant to whether or not doj is going to have a successful criminal prosecution, of the for you big tech ones. >> watching earnings heavy hitters boeing caterpillar reporting before opening bell as you see caterpillar down better than 4 point of view percent boeing down almost 1%, next up. from fidelity. a visual snapshot of your investments. key portfolio events.
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progress, right now, so far, in aier chairman made opening statement doug collins, ranking member made his listen in. >> -- special -- evidence b.a. from princeton ma emory in my district, j.d. university of virginia mr. mueller accompanied by counsel served as deputy special counsel on the investigation. >> we welcome our distinguished witness we thank you for participating, in today's hearings, now if you would please rise i will begin by swearing you in. >> raise your right hand, please. >> do you swear or affirm under pen tooef percentage the it have the you are about to give true and correct under the best of your knowledge and belief so help you god let the record show wbs answered in affirmative please be seated please note your written statement will be entered into the record, in its entirety.
accordingly i ask that you summarize your testimony in five minutes, dr. mueller you may begin. >> good morning chairman nadler. and ranking member collins members of the committee. >> as you know, in may 2017, the acting attorney general asked me to serve as special counsel. i undertook that role because i believed that it was a -- paramount interest to the nation to determine whether a foreign a adversary intensifiered in the election as acting attorney general said at the time, the appointment was necessary in order for the american people to have full confidence in the outcome. >> my staff and i carried out this assignment with that critical objecttive in mind
worked quietly thoroughly with integrity so public would have full confidence in the outcome. >> the order appointing me as special counsel directed our office to investigate russian interference in 2016 presidential election. this included investigating any links or coordination between the russian government and the individuals associated with the trump campaign. it also included investigating efforts to interfere with or obstruct our investigation. throughout the investigation i continue yuly stressed two things the team that we had asemeled we needed to do work as electoral as possible as expedishiously as possible in public interest for vacation to be complete not last a day longer than necessary, second, the investigation needed to be conducted fairly, and with
absolute integrity. our team would not leak or take other actions that could o compromise the integrity of our work. all citizens were made based on the facts and the law. during the course of our investigation, about we charged more than 30 defendants committing federal crimes including 12 officers of the russian military. seven defendants have been con kwiktd pled guilty stern remain pebing for that i stress indictments contain allegations every defendant is presumed innocent unless and until proven guilty. in addition to the criminal charges, we brought, as required by justice department regulations, we submitted a confidential report to the attorney general at the conclusion of our investigation. the report set forth the results of our work, and the
reasons for our charging and decisions. the attorney general later made the report largely public. as you know i made a few little bit remarks about our report when we closed special counsel office in may of this year. there are certain points that emphasis. first, our investigation found that the russian government intensifier interfered in our election sweeping systematic fashion, second the investigation did not establish that members of the trump campaign conspired with russian government in its election interference activities. it did address conclusion not a legal term rather we focused on whether evidence was sufficient to charge any member on the campaign with taking part in a criminal conspiracy. and about there was not.
third our investigation of efforts to obstruct the investigation lie to investigators was a critical importance. obstruction of justice strikes at the core of the government's effort to find the truth and hold -- wrongdoers accountable. finally as described in volume two of our report, about we investigated a series of actions by the president towards the investigation. based on justice department policy and principles of fairness we decided we would not make a determination as to whether the president committed a crime. it was our decision then and remains our decision today. let me say -- a further word about my appearance today. it is unusual for a prosecutor to testify about a criminal investigation. and given my role as a prosecutor, there are reasons
why my testimony will necessarily be limited. first, public testimony could affect several ongoing matters. in some of these matters kurt rules judicial orders little bit disclosure of information to protect to protect the fairness of the proceedings. and consistent with longstanding justice department policy would it be inappropriately for me to comment in any way that could affect an ongoing matter. second, the justice department has asserted privileges concerning investigative information and citizens ongoing matters within the justice department and deliberations within our office. these are justice department privileges that i will respect. the department has released the all right discussing the restrictions of my testimony. i therefore will not be able to answer questions about certain areas that i know are of public interest.
for example i am unable to address questions about the initial opening of the fbi's about russia investigation when occurred months before my appointment. or matters related to the so-called steele dossier. these matters are subject of ongoing review by the department, any questions on these topics should are there be directed to fbi or justice department as i explained when we closed this special counsel's office in may, our report contains our findings, and analysis and reasons for the decisions we made. we conducted extensive investigation over two years writing the report stated the results of our investigation, with precision scrutinized every word. we did not inten to summarize or describe results of our
work in a different way in the court course might have temperature today as i said may 29 the report is my testimony, and i will stay within that text. and as i stated in may i will not comment on the actions of the attorney general, or of congress. i was appointed as a prosecutor. and i intend to adhere to that role and department standards that govern it i will be joined by deputy special counsel adjudicately, has extensive experience as federal prosecutor at fbi where he served as my chief of staff, he was responsible for the day-to-day oversight of the investigations conducted by our office. i also want to again say thank you to the attorneys fbi agents, the analysts, the professional staff who helped us conduct this investigation
in a fair and independent manner. these individuals who spent nearly two years working on this matter were of the highest integrity. let me say one more thing. over the course of my career i have seen a anybody of challenges to our democracy. the russian government efforts to interfere in our elections is among the most serious. as i said on may 29, this deserves the attention of every american. thank you, mr. chairman. . >> thank you. we will now proceedn under five minute pruls of questions i begin recognizing myself for five minutes, director mueller, the president has repeatedly claimed, that your report found -- >>. maria: just finished opening statement you will hear from jerry nadler followed by doug collins five minutes as you
heard mark with us mark very clear not going beyond, that report, and, you know, he is talking about, significance of russia getting in the u.s.'s issues and meddling what about the fbi meddling what is your reaction. >> my reaction is, he is not giving much of anything to anybody, with the exception that he was ambiguous about justice department policy in terms of the president and obstruction, that will be the important probably the only question that anybody will get out of him, and, of course, what he said is he is not going to talk about the dossier origins of the investigation or any of that he is just going to pass the buck on that republicans are going to be extremely frustrated by this, we are not going to get the straight story from him finally, he called the russian sweeping and systematic i am not sure he documented sweeping perhaps
systematic yes. >> can you get away with that you know better than anybody you havewritten about it i have written about it we talked about about this two and had a years we know what went down, as a result of that cabal of individuals who tried to stop donald trump can he get away saying that i am not looking at oranges under russia investigation not discussing with dossier not discussing fisa abuse. >> this is a prosecutor has gotten away with unfettered power investigating every associate and friend of the president. who knew there was no underlying crime, early in the investigation, prosecuted people wi systematically looking for anything this their life to try to get leverage threaten them to turn on president when you look what this practitioner has gotten away with it is a lot more than this testimony. >> chris quick. >> i think it looks like he is almost intentionally using a cadence would make it so people won't be able to use his speaking in campaign ads
interrupting himself coughing going slowly word spacing as if designing not to be used politically with a democrats are hoping for this this is going to go back to politics they have to ask with a investigation launched was rosenstein fired was mueller fired was the report released if all that happens you are going to have to make public case for collusion, or obstruction, that is going to be very difficult. maria: mark stay with me i have a question on microsoft before you go dagen exactly what you said earlier, watch cadence whether or not he is -- >> raises the question whether intentional or not does he come across as if in command of the facts of the investigation? again he has this sidekick with him, for help, potentially. does he come across like the man in charge of the investigation that raises issues about all the democratic donors who were on his team but, again, to quote that that professor william
howe cryptic at times convoluted doesn't make good campaign ad. >> did give a little bit, you know, emotional or -- put a little punch in his defense of the notion that, you know, obstruction of justice is very serious thing, kind of a sanctimonious speech about that, i think in doing so he may you know, arguably open the door to answering questions about -- obstruction of justice for instance, who he has ever prosecuted for obstruction of justice that was legally entitled to do what they did? did it openly notoriously most on tv, and not guilty of any crime was being wrongly investigated. >> but you just side a second ago in terms of the u.s., about officials paying he foreigners. >> right. >> explain what i just said during the hearing. >> well, i mean, yeah, he they are investigating these allegations of collusion but they seem to have completely ignored the fact that the
other party was paying foreign citizens to create falsely information knowingly inrejected became predicate for all of this 40 million dollars two years who is holding them accountable. >> that sounds like >> for real. maria: that's what it sounds like. we will get to mark real quick. you were the chief strategy officer of microsoft when microsoft was being investigated. you worked with them through that case. your reaction today to a.g. barr starting this new antitrust investigation into the tech giants. >> yeah. i worked with them through the case and remember, that was a tie-in case. whether or not they were leveraging their market power in windows to sell -- to get people to use their browser. remember, facebook has instagram. google has search but they also have youtube. so those same questions are going to come up whether they're
using their market power to sell or launch and create huge market share for these other products and second, there's an enormous market power that they have in advertising so when the judge says there's no consumer harm, people are going to look at whether or not the advertising rates here are basically being set by an oligopaly and therefore, may be costing consumers or not. there's a lot of big issues here that i think the doj could look at. we will find out how smart they are when they begin to open this onion. maria: great insights from you on both subjects. as always, great to see you both. thank you. meanwhile, boeing, the company reporting a massive loss, much worse than expected. deirdre bolton on the floor of the new york stock exchange with the details. deirdre: this is sending the stock down premarket, we 93 this
compa -- knew this company was having problems with the 737 max jet. there were two deadly crashes within five months of one another. the company forced to ground the plane. if you want to look for a bright spot it's hard to find but i can tell you the defense and services unit did basically post a profit. a lot of analysts saying once we get the 737 max issues behind them, the company does have pockets of strength in other areas. caterpillar as well, these two dow components going to drive trade, caterpillar missing heavily on earnings. consensus was for $312 a share. ever so slight a miss but you can see the red on your screen premarket for both of these dow members. of course, so many of us looking forward to after the bell, ford, tesla, facebook, of course, also going to be posting earnings this afternoon.
i have to tell you, everyone here, every single tv is on this mueller statement. meantime, back to you. maria: isn't that interesting, all the tvs are on the mueller testimony. thank you so much. we will check in. markets are down this morning going into the open, with the lows of the morning right here. >> right near all-time highs in the stock market. looking past the boeing and caterpillar earnings, looking forward to facebook earnings today after the close but really, this government investigation into big tech can turn into a really big story because if they continue this, these large growth companies that have led the market start to see selling coming into them, where does that money go? does it rotate into other techs? is it the newest techs, recent ipos like uber and lyft or companies that have been through this already like microsoft, does this benefit? money won't leave the market, it will rotate but i think there's an opportunity for investors to watch that. maria: we'll see. banks have had a pretty good
run. final thoughts? >> i think mueller is what we suspected, there will be no new information and skilled interrogators won't have a chance in this format to get anything out of him. maria: that will be a shame. great show, you guys. have a great day. "varney & company" begins right now. stuart, take it away. stuart: good morning, maria. good morning, everyone. this is "varney & company." the mueller hearings billed as the most important since watergate. you are going to see democrats looking for dirt on the president. you will see republicans looking for dirt on the investigation. in my opinion, it's the last gasp of russia, russia, russia and obstruction. i think it's a political bust for the impeachment brigade. we'll see. a spectacular day in the world of money. you will see that unfold as these hearings proceed. disappointing results from boeing and caterpillar, both dow stocks and way down. a big win for texas instruments,