that "brexit" did damage the stock price because they operate airports in london. liz: guess what, mark. we're cueing fireworks because we have -- >> another record. liz: another record. mark spellman gets to look at it. [closing bell rings] thanks for joining us from the alpine funds. connell and medical list pick it up here. i hand you fireworks, gang. how about that? melissa: we love it. connell: perfect. celebration for markets. closing at another all-time high. s&p barely squeaking out a record as well. we'll cover it all. i'm connell mcshane once again for david asman. melissa: good to see you. glad you could join us. i'm melissa francis. this is "after the bell." we have you covered on big market movers. here is what else we have for you this hour. big swings in the swing states. donald trump and hillary clinton now polling neck-and-neck in states that could decide the election. this as trump meets one-on-one with his short list of vp candidates.

we have all-star guests to weigh in on all of this and more among them. judge andrew napolitano, governor mike huckabee, and white castle vice president jamie richardson with us. connell: white castle. i love that. another record close as we said for the dow and you unitedhealth, verizon, microsoft helping to lead the way higher today to 18 three and change. trader scott shellady is watching action for us in oil and gold in the cme from chicago. lori rothman is there on the floor of the new york stock exchange. it wasn't a given to have a record today, lori because we had been negative but led to a nice close. >> connell stocks took a breather today. if you look at big picture, we're 2% above the june 23rd pre-"brexit" vote level. that is something to speak b i'm watching s&p settle. you mentioned the dow is record territory, building on record set yesterday, lifetime high.

s&p gained .2 of one point, i'm sorry, so that obviously qualifies s&p for lifetime territory as well. csx surprised us, looking for earnings after the close. better than expected, still down 20% from a year ago. that boosted shares and the whole railroad sector as a matter of fact of fact. basically the company saying that the worst of the shipment slowdown is behind it. talk about shake shack real quickly. there is takeover speculation. a lot of options action. bullish bets on khalid sheikh mohammed takeover. up -- shake shack takeover. keep an eye on shake shack. back to you. melissa: lori, thank you very much. scott, different story for oil, retreating back below 45 bucks a barrel. what was weighing down crude today? >> we had an inventory report. we didn't use as much oil as we

thought. number two, we had much more gas than we thought we were going to have. interesting to see how they decouple from the equity markets. can you imagine what oil higher today, what new all-time highs would be? we're at all-time highs because the economy is running away at all-time highs? what? we have things to be skeptical about. i think oil will still lead but this is one day where they decoupled. melissa: scott, thank you very much. connell. connell: let's look more detail in the record once again for stocks at least for the dow and s&p today as we bring in our market panel to talk more about it. kevin kelly from recon capital partners. david dietze is here from point view wealth management. good to see you both. kevin, why don't we start with you. as scott pointed out a moment ago, there are reasons to be skeptical yet again, however the bottom of your screen is all green and says dow at an all-time high. what do you make of the moves we've seen? >> what we're making the market is pricing risk mechanism is completely off.

when you look at utilities sector trading 30 times earnings. they have mid single-digit growth. people flown in there as bond proxy but yield curve is actually really flat. that is indicating a lot of worry. there are areas you can look to. i think tech held up very well. earnings season will dictate everything. we have to see what management says going forward. companies could be on top line and bottom line but guidance will really dictate market action. you have to be careful. connell: right. david, we'll talk more in detail in a few minutes in terms of individual sectors we can look but in a general sense american companies an profitability going forward because we always say at end of the day that will drive stocks, what do you think that, what is your outlook for that in a general sense? >> certainly people are circling this market because with negative interest rates in most of the world everyone wants to invest in higher yielding. the question whether strength of corporate earnings can support above average valuations. connell: right. >> we're coming back to earnings here and i think the number one question you have to ask

companies, what's the outlook for europe and the uk in light of "brexit"? there is a report that is in the rear view mirror. what are they looking forward to, if they're upbeat and confident i think the market can move higher. connell: funny, kevin, to david's point, we're very quick to put "brexit" the uk exit vote in our rear view mirror, market at all-time highs, it doesn't matter. should we be that quick, does it not matter. >> we shouldn't be that quick because we are in earnings recession and global slow growth environment. numbers out of the us have not been that robust. consumer may be coming back and there are tailwinds there. look across the globe. it's a very bad story. look at flims in s&p 500, even ftse 100, most of their earnings actually abroad. connell: all true. now one other thing we noticed today, i will bring it up with you, david, and "wall street journal" pointed it out this morning, the move towards buying back your own stock. numbers are something else.

look at companies buying back $161 billion of share during first quarter. only one quarter ever had more repurchases than that. what does that tell you, david? >> it is a very mixed message. on other hand they like valuations on the stock. the negative they see no great investment opportunities in the underlying business, so what do they do with the excess cash? that is the dark cloud on the story. connell: depends on company, right, kevin? apple by the way 6.7 billion in repurchases. some other companies, gilead sciences the journal mentioned, a company like apple doing that, kevin, tells you what? >> a company like apple is doing three things with their cash. they're doing smaller purchases. we've seen that across the board. they're actually deploying it through a dividend ands well as increasing quarter over quarter. they're also doing buybacks. that is type of stock you want to be in if they're doing buybacks. important thing to note apple has so much cash overseas they have to issue bonds to do things they want to do over here.

they have to bring it back over because they get penalized extremely, 35%, if they bring it back. melissa: new records for wall street and you can add amazon to the list. online retailer announcing this day's prime day is biggest day ever. surpassing sales of black friday, and cyber monday. david dietze, you have to hand it to them. they made up a fake holiday and sold the hell out of it. >> absolutely. they're getting free advertising. we're talking about it. hats off to amazon. you always want to know how much is actually being brought to the bottom line. melissa: right. >> are they really covering costs. how much did they pull sales fo purchases to take advantage of this one day? more questions we have to dive into. that always of course been amazon's challenge. they have got revenues. how much can they bring -- melissa: david, those are all great questions. take a stab answering one of them. >> certainly fact unmitigated benefit for consumers. it is going to push some. competition to the side. so on balance this is real plus

for amazon. melissa: kevin what do you think? >> genius move. we know amazon prime members spend $500 more than non-prime members. it gets them into the ecosystem. amazon you can't argue about the fundamentals. they're consistently focused on growing revenues. done it year-over-year over year. they're doing it well. if they want to turn into great fundamentals they would cut their spending. this is cloud company that hoops to have a retail commerce site. guess what, they are the backbone to internet and mobile devices. if i do a transaction, amazon web services. if i go to snapchat, amazon web service. they're great company diversified across the board even gaming with twitch. connell: i said sectors individually we'll look at earnings. banks next couple days. jpmorgan, citi, wells fargo, all those numbers coming out, guys although the forecasts are fairly negative maybe there is silver lining how these companies are working their way through tough times. kevin, do you think there will be? will they work through the slow interest rate environment?

>> absolutely not. they have been doing that last couple quarters. they haven't been able to do it? they have an do a ton of cost-cutting. one. biggest overhappenings they have is 22,000 pages of regulation due to dodd-frank. they're trying to navigate markets. where are they hiring? compliance. that is not a growth sector for banks. they will do more cost cutting. connell: not a good sign at all either. david, you look at the environment, to kevin's point, there are a number of challenges. you have such low interest rates you will have more mortgage lending. some people point to potential silver lining one of the things i was alluding to, tough times for banks as investments? >> i have another point. interest rates can they go lower? i think a year from now interest rates will be higher. right now the stocks reflect worst-case scenario. connell: which ones do you like? you like big banks? showing wells fargo now. >> jpmorgan. i mean you know genius move by jamie dimon to get some publicity, talking about upping

wages, upping training. i think he is extremely well-positioned. we also love goldman sachs. talking about what to do with london but all the people there are earning 15% less measured in dollars so why not. connell: guys, thanks. kevin, david, always good stuff. appreciate both of you. melissa: restaurants and businesses under attack from unprecedented onslaught of new regulations coming from washington. white castle vice president jamie richardson will tell us about the challenges his chain is now facing. connell: donald trump firing back at supreme court justice ruth bader ginsburg after her comments slamming him in the media. now even "the new york times" weighing in its support of trump. judge napolitano will be here. you know he has a lot to say about this. melissa: what can we expect from the republican convention? we are going to ask former presidential candidate mike huckabee. he will be giving his big speech there on monday as security is still scrambling to get everything in place. >> right now we're, we had two

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melissa: record close for the dow second straight day. s&p 500 barely squeaking out a new record. you know what? a new record is a new record as well as the third day in a row here. dow up 24 points. connell. connell: let me write that down, very deep from melissa francis. heightened security ahead of gop convention out in cleveland next week. everybody is getting sense for

the convention, that includes protest groups. they're prepared to hold rallies and marchs across the city. we had news from the black power group, new black panther party. they came out in interview they plan to bring guns to their rallies for self-defense. ohio is open carry state. that interview done with reuters. blake burman joins us there with the latest. blake? reporter: hi, there, connell. this will be a massive security presence and massive security operation here in cleveland. while we talk about politics of it all, when you get here to the city, open up newspapers that is what they're talking about locally. security operation and how to get the city safe. there are a couple issues at play. you hit on one of them. that ohio is open carry state. meaning if you have the proper documentation and so forth you can carry a firearm legally here and one of the questions how might all of that work with protesters? the police chief here in dallas

a little while ago, as law enforcement officials have for days, this is open carry state and it is going to stay that way. the other issue folks have been talking about is changes post dallas. i might have said dallas, police chief here in cleveland. they are talking about changes post-dallas. the police chief in cleveland addressed that, said yes, they are indeed making changes as well. take a listen to him. he spoke a little while ago in cleveland this afternoon. >> we talked about of course since dallas other things have happened how we better that. how we make sure that the people that are coming to enjoy the convention understand they're going to be allowed to express their first and second amendment rights. all their constitutional rights, but, we're also going to make sure people are safe. reporter: things are relatively calm here right now. thursday, friday, is the rules committee. we are expecting the crowds by the thousands to show up over the weekend. then of course the convention starts on monday.

but among those potentially not showing up are those on wall street. "politico" out with article this morning citing how several major banks are passing on this event. among them jpmorgan chase, goldman sachs, morgan stanley. largely absent from this rnc here in cleveland with citigroup keeping a low-key profile. connell? connell: that is interesting. see you out there next week. blake burman. melissa: governor mike huckabee will be at the convention. he is even one of the speakers. he joins me with more what to expect. i have to ask you? have you written the speech? do you know exactly what you are saying already? >> i'm working on it, melissa. i think a lot of security presence will not to keep people from getting into the convention but when i speak they're worried so many people will try to leave. so they're trying to keep the security there to keep them inside so they won't rush for the exits. melissa: i love your joke. we don't believe that for a minute. what themes are you going to hit? very exciting.

that is honorable spot. what will you give us, a little preview and little taste. i know you don't want to ruin it but give us some thoughts. >> well, the theme will center around, this is for the whole evening, on make america safe again. perfect timing in talk of the security. melissa: right. >> but you know there is a lot of things. we have a very short period of time, all speakers. very kind of quick, almost vignette. it is hard to distill everything you want to say into short period. frankly harder to prepare a short speech than it is a long one. melissa: no, that is absolutely true. how many minutes do you have? >> i think i have got five minutes, and that's what most of us have. we have like a five-minute shot here. that is pretty much throughout the convention as i understand it. melissa: no, in television time that is an eternity. five minutes that is a long period of time. >> yeah. melissa: did you see the polls came out today from the various swing states?

in the polls we've seen past couple weeks donald trump had inbeen doing so well. then all of sudden we saw quinnepiac, which is obviously very reliable came out showing swing states, florida being maybe the most significant where before trump had been trailing by a ton. and now all of sudden he is up by three. the margin of error is three but still had been way behind. now he is ahead. you know, dead up tied in ohio and pennsylvania he is up by two. all that margin of error is there, but still, do you think this is a blip? does it telling you something? what do you make of it? >> well i think it's the result of people knowing more and more about how hillary has lied under oath. how she told one thing to congress and yet the facts prove differently. i don't think it helped her that james comey gave her essentially a get out of jail card free. people are sitting around america saying i wouldn't have gotten that.

you know what? they're right, they wouldn't have. i think we'll see much of a change. a great bump for donald trump and convention will be bigger bump for him. melissa: two sets of rules seem in america a lot of people are thinking. >> yeah. melissa: the big buzz is obviously who he will pick as vp. what is your bet? >> it is hard to say. every hour the predictions change. i think one thing i've come to do, i can predict with absolute certainty, donald trump will be unpredictable. that is about the only thing i can tell you. i mean -- melissa: i thought you would say that. >> it will be either pence, trump, or newt or maybe jeff sessions. it may be none of the above. we just don't know. you know, the most important thing is it is someone trump feels comfortable with. he feels like it is a partner in this pros test. that is more important anybody else thinks about it. melissa: it could be you, governor. we'll keep eye on it. >> pretty sure it won't be. melissa: look forward to hearing you on monday. thank you so much, sir.

>> all right. thank you. connell: breaking earnings news, lori, just coming in. yum brands. how did they do? >> pretty good considering the not so optimistic outlook and expectations but yum! brands is actually raising the full-year core operating profit growth forecast. shares are up 2 1/2% at last check in reaction to after-the-bell report. yum! brands runs kfc, taco bell, pizza hut. big headline is yum! brands is going to go ahead. they just announced and separate their china business on october 31st of this year. analysts are very optimistic about the separation because they see a lot more business and revenue potential in china. we know they already plan, yum! brands, to open 7200 restaurants in china. shares are really climbing. up about 3 1/2% now. in terms of individual restaurant growth, taco bell down 1%. kfc up 2%. pizza hut was even in the

quarter, but again the expectations, the bar was lowered a little bit here. again all of the expectation and optimism and hope is that this china spin-off will provide some pretty impressive results. back to you. connell: they love their kfc in china, lori. >> they do? connell: yeah, all over the place. melissa: somber day in texas, funeral services held as hundreds gathered to pay tribute to our fallen heroes. we're going to take you live to dallas with the latest. plus an historic day for the united kingdom. what prime minister david cameron's resignation could mean for the united states and our closest ally. we'll talk to john bowne former uk parliament member and close aide to margaret thatcher. that is next. >> as we leave for the last time my only wish is continued success for this great country that i love so very much. ♪

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connell: really is an historic shift in power overin the uk. prime minister david cameron formally submitting his resignation to the queen today passing the torch to britain's home secretary, theresa may. >> as we leave the european union we will forge, forge a bold, new, positive role for ourselves in the world. and we will make britain a country that works not for privileged few but for everyone of us. connell: may is the second female prime minister in the history of the united kingdom following margaret thatcher. here with us, john browne former member of the uk parliament who worked as close associate to aforementioned margaret thatcher. john, always nice to see you. >> thank you. connell: tell us what you know about theresa may. comparisons will be made to margaret thatcher because as i said they are the only two females to be the prime ministers of the country. are there other comparisons

between the two? the. >> like margaret thatcher, good person, highly-educated but experienced in cabinet but there is one great dissimilarity, that is passion. i believe that as she voted for remain, it is hoard to see how passion for "brexit" whereas margaret thatcher was passion not to remove the shackles of socialism, fought like a terrier, may is more like a span el and the key thing is today. we have cameron in as foreign secretary which looks on the surface as a major move towards "brexit" but it is not the key role. the key role is negotiator. now if she was to put nigel farage in the house of lords in the cabinet and make him the chief negotiator i would reverse my, i would reverse my opinion immediately but the at moment i think she is out to play the ball into the long grass for long delays and "brexit" is going to be watered down

completely, if not drowned. connell: referring to boris johnson. that is not a significant move in terms of being the foreign secretary in your view. that is interesting the way british politics work. a little bit different than to american politics. so that point, john, for somebody watches who sees conservative leader next to the name theresa may, someone watching in this country, you know both countries very well having lived here and over there, how does she compare to what americans consider a conservative politically? >> i think she is very conservative. connell: okay. >> in terms of the conservative elite but "brexit" was a people's rebellion. and she's not, that is where she lacks the passion. her passion is for the conservative party. and that has very successfully as you will see, pushed out the three leading contendsers of the "brexit" camp. now the main leading contender is of course nigel farage. he is out completely. connell: more paul ryan, than donald trump kind of thing?

>> yes, exactly, exactly. connell: john, thanks. always good to see you. i'm sorry. >> thank you. connell: we have to go-timewise. appreciate it. melissa: very colorful. i like that. big blow to general motors. federal appeals court has now denied the automaker's attempts to block lawsuits over defective ignition switches arising before its 2009 bankruptcy restructuring. the court ruling that gm's failure to reveal the safety defect violates customers legal rights in chapter 11 court proceedings. this reverse as previous decision that would have prevented lawsuits with up to an estimate $10 billion in claims going forward. connell: the feud is heating up between donald trump, we were just talking about, and ruth bader ginsburg on the supreme court. that has been an interesting story. judge is coming up and will give us his take. melissa: with less than one week to go until the republican convention in cleveland, is donald trump close to picking his vp? >> i'm narrowing it down.

i mean i'm at three, potentially for. but in my own mind i'm probably thinking about two. ♪

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connell: another record, dow at all-time high. big winners on the day include unitedhealth and verizon, goldman sachs, ibm, united technologies in terms of s&p 500 it squeaked out a new record in its own right.

third day in a row we've seen that nasdaq not faring as well, snapping what was a five-day winning streak. melissa. melissa: the war of words between ruth bader ginsburg and donald trump. the supreme court justice slamming presumptive gop nominee as a quote, faker. the judge firing book calling for justice ginsburg to step down. judge andrew napolitano, fox news senior analyst. it has gone back and forth. she made three comments, maybe four. this feels very unusual. is it unusual as it seems? >> it is unusual. it is not unusual for justices of the supreme court to have political opinions. they have human beings. it is unusual for them to express political opinions about a candidacy during a campaign for the presidency. it undermines the court a little bit. if they all did this it would undermined the court they would not. the court doesn't have army to enforce decisions.

the decisions are enforced by moral as situation and reasonableness. that we recognize they're a court of last resort. if they begin to look like they're one of the other two branches, political branches, people will disrespect what they say? who is upset about this, other members of the court, particularly those who share her views about donald trump but have kept them to themselves. melissa: why do you think she is spouting off? on one hand, she is 84. most say let them say what they want. they have been hanging in there a long time. >> she is very smart woman. she is champion of the left on the court. don't know what to be gained by -- melissa: a lot of people look up to her. >> i don't know people will vote against trump when ruth bader ginsburg talks about him because other acolytes are to be made by people supporting hillary clinton f i were to say this on the bench, public reprimand and

absolute removal. melissa: it does not apply to her, because? >> the supreme court said it doesn't. code of conduct applies to all judges in the united states of america except for the members of the supreme court. melissa: some have said maybe this is an indication she thinking of stepping down but if you have been following this for a while that is not the case. >> she is not going anywhere. not going anywhere until the good lord intervenes. melissa: they tried to get her step down, obama, the left did, to replace her, somebody in their 40s. >> in her refusal to do that, she antagonized the left base, which would rather have 44-year-old ruth bader beginsburg type than 84-year-old. she told them politely to take a hike. melissa: interesting. >> more to come. the way she doubled down, i'm sorry to say this, because she shouldn't make herself issue in the campaign. more to come. trump was right and "new york times" agreed with him. melissa: then he said she lost her mind.

one step too far. >> she hasn't lost her mind. >> appreciate it. connell? connell: new polls out, "quinnepiac poll" in particular shows hillary clinton neck-and-neck with trump in the key swing states. a lot of people are paying attention to florida. there is also ohio and pennsylvania. see the slight lead we showed you for trump in the florida polling. and, 50 to-37 in terms of trustworthy. that is the issue for hillary clinton. she struggles in the category. bring in kristen haglund, conservative political commentator and steve murphy, democrat political strategist. we'll talk about this a little more. steve, on democratic side, too early, only one poll. significance of quinnepiac, it was an 11-point swing, last time they polled florida, hillary clinton was up eight. three-point trump lead within margin of error now, 11-point swing. what do you make of it? >> i make several things. no question the race has

tightened slightly this week. just as certainly though, there is no question that there hasn't been a sea change in the race. hillary clinton is still ahead after fbi director comey made his announcement that he wasn't going to recommend prosecution. the republicans are banking on emails and benghazi to take down hillary clinton and they better come up with something else. they better try to win it on the merits because they failed in that effort. connell: that's interesting, so the point, kristin, steve would make there, you have gotten all you're going to get out of the email story, agreed, disagree? >> well i mean you saw turn around in the polls last couple weeks, when the email scandal was happening, right after the indictment of character that fbi director james comey delivered to her. that is when you see this major swing along with of course the horrible week we had last week with the shooting of two black men by cops and loss of life by five incredible dallas officers. you saw insecurity our country is facing.

people's passions were riled up. they want radical change. in that poll it said people wanted radical change across the board. also, donald trump polls better on economy and on who would be better to deal with isis. those are two main factors that voters are looking at. that is where donald trump holds better,. connell: we'll talk polls when they do it and come out here and there but topic we media types and you pundit types like to talk about now are the veepstakes. donald trump meeting with everybody in indiana. governor mike pence. vetting pence as potential running mate. jeff sessions hinting he had meeting with trump. trump spoke with bret baier. gave us a little bit of the thought process behind how he is making his direction. >> indiana has been special to me. i think the level of receptivity i had here is incredible. governor has been, he has been

amazing coming in to see me. >> down to two? >> no. chris christie is somebody i liked a long time ago, professional. a lot of people don't understand that. i'm narrowing it down. i'm at about thinking of that too. connell: 6:00 p.m. fox news channel. favorite pence? what do you think? >> he will announce friday. last day for what trump had. he does those things. brings in the rust belt. helps donald trump with conservatives and evangelicals he needs to turn out if he is going to win. governor mike pence is real balance to donald trump's temperment. he might help with independents who feel like donald trump

really gone off in ways that they don't feel is presidential. mike pence is helping. not really a fighter, which donald trump really wants. connell: talked to the journal about yesterday. give us your analysis on democratic side. say for argument, it is three you have newt gingrich. >> said it might be four. two, three, four, he doesn't know. >> he is trying to be unpredictable. connell: throw sessions in. which one helps most. which one worries you most? >> i'm not worried about any of candidates we talk about. mike pence is losing his re-election campaign in indiana. republicans are desperate to get him off the ticket. because he is number one gay basher in the country. that is certainly not going to help republicans. >> he reversed on that bill, in indiana, actually. >> newt gingrich was thrown out of speaker by his own party. chris christie is the most disliked governor in new jersey history. >> that is true. >> not tremendously worried.

connell: but idea none of them, i don't know. you know what? trump hinted that he doesn't think vice presidents often make a big deal. kristin, pence will be, and you're right, it is pence, trump means he wins a state he wouldn't ordinarily win. is that big of a deal in your mind? >> always overemphasized. how much help a vice president can actually bring. key demographics donald trump has to turn out, that are not safe places for him. that evangelical vote, rust belt. he is looking up in pennsylvania as quinnepiac polls just showed. if he can bring on someone that has leverage in those groups, that will be much better than someone like newt gingrich or chris christie with huge negatives. a lot of six out of 10, white middle class and educated voters have real negative opinions. so those wouldn't help. connell: we agree all of us that pennsylvania is big state, no doubt about that. thanks. melissa: triple-shooting captured live on facebook. friends watch in real time as

three men are gunned down. thousands gather to honor the police officers we lost in dallas. >> one thing i would always say to my dad when he walked at door was, good-bye, daddy. i love you. be safe. and tonight we say our final good bi, daddy. we love you. be safe.

connell: the city of dallas morning the -- mourning the loss of five dallas officers. there was service for one of the officers, seniorcorps ral officer lorne ahrens in plano, texas. she spoke in his honor. >> when you're on the radio screaming for help, he is count on lorne to be the first one there. lorne appeared invincible. when you're with lorne you also felt invincible.

connell: dallas police sergeant michael smith was memorialized today as well. he joined the force in dallas back in 1989. officer smith once received as was talked about yesterday the cop's cop award from dallas police association. his sister spoke about him at the service in dallas. >> there is no comfort for us right now. we are raw and we are winded. but i know michael is in the arms of god now. i have no doubt. i know he is watching over us, guarding us. connell: and, the dallas area rapid transit officer, the d.a.r.t. officer, brent thompson, he was aisle guised by his wife emily, an officer herself. two other funerals are scheduled for tomorrow and friday. melissa: three men gunned down in broad daylight and on facebook. a video live stream shows the

men listening to music in a car. when gunfire erupts. fox business's deirdre bolton joins us now with the details of this story. so, melissa, as you said, three people shot. all three were taken to the hospital. two though with live threatening injuries. at the moment seems like facebook will have to clarify why and how they are choosing to show these images. so the ceo, mark zuckerberg, did post a statement and it is rather long, so i won't kind of get into all of it, essentially we do take context whether or not these shots are posted. melissa, you remember this facebook live streaming. it started back in april. it was supposed to be kind of on lighter side. this is what facebook thought, here is baby eagle flying off, here is my kid getting the first haircut. meantime a lot of shootings we're talking about this. there are other people saying,

listen, maybe facebook should act like a media company as we do or any other broadcast network in fcc guidelines for what is decent, what is not shocking or at least give a warning which facebook is by the way now doing. to some on facebook's stance they essentially say the events themselves continue to go out but if somebody is celebrating violence. they will take the videos down. it hasn't hurt the stock, up 33%, past 52 weeks. s&p 500 is up about 11% during that time. melissa: interesting, a lot of those things subjective. they will keep deciding. it is interesting. see you at top of the hour for "risk & reward." connell: could you soon lose your job to a robot? something people are thinking about. some jobs have high probability of switching to automation. white castle's vice president, jamie richardson here to weigh in on that. ♪

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♪ melissa: is the government overreach hurting jobs? what do you think? my next guest testified in front of congress about crippling impact of administrative overreach. he is jamie richardson, white castle vice president. thanks so much for joining us, sir. you are also chairman of the ohio restaurant association, representing 20,000 restaurants in the state of ohio. i know you go and talk to congress and talk to them about what is really going on in the real world while they sit up there and legislate. mckenzie put out a report recently saying that the industry's most threatened are manufacturing, food service and retailing. within food service, 73% of the tasks performed by food workers could be replaced by automation and robots. does that sound right to you? >> you know, melissa that sounds exactly like what is happening. pace of change is celerating with technology.

we came across a really troubling number at white castle? 81,611. how many new pages of rules and regulations federal government issued last year. so many impact employers how we relate to our team members. when they raise our costs they make it harder to hire new people. it does accelerate rate of change to look at alternative. melissa: council of economic advisors put out a report, this is not a group generally optimistic. these are government people trying to paint a rosy picture. they said 83% of the jobs that pay under $20 per hour were likely to be automated and turned over to robots as well. i think that, bernie sanders fan would look at that, say, why don't you make minimum wage 21 bucks an hour, then none will be turned into he robots. what do you think? >> unfortunately what we see in the real world it doesn't always add up like the politicians think. someone living inside of the beltway who never worked behind

the counter doesn't understand when you run a narrow margin business you don't get to keep every sales dollar. hold on what you can. most of us that is penny or two of every dollar. you're absolutely right. it puts tremendous pressure. so many things are not happening through congress but bad regulations. new overtime rules prime example. melissa: running through some. numbers quickly before we go, people don't understand. white case -- white castle. you're ceo at top. you're selling franchises. small business owners. of every dollar they make one or two cents, that is the profit? >> our business model is company-owned store model. we reinvest in people and benefits pend do for our communities, yeah, our typical profit margin is one to two pennies per dollar every year. it is about giving back to the people and being there for the long haul. melissa: jamie, thank you very much for joining us. >> crave on. melissa: yeah.

connell: people want, transition by the way from food to something to drink. at end of the day you want to relax have a nice cold beer. melissa: fox lime. connell, this is here. food police is coming. the food police, to ruin all your fun. ♪

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>> the four largest u.s. beer companies will list calorie, it's on beer labels. those are new voluntary guidelines. it will affect out of eight out of ten beers. they are expected to adopt all of this by 2020. >> i cannot believe it did not already have the calorie count on it. >> everything seems like it does. maybe we just don't even look

at it. >> i can't believe it's not on beer. he have no idea how many calories were in beer. here comes risk and reward. >> in my own mind i am probably thinking about too. two. deirdre: the countdown is on. the republican national convention starts in five days. donald trump may announce his vice president pick. on the shortlist for the vice president mike pence, trump seen earlier today with him he also met with former house speaker newton ranjit. newt gingrich. other contenders new jersey governor chris christie and arkansas senator