>> i regret that our efforts were simply not enough this time . cheryl: breaking news this morning. republican efforts to dismantle obamacare collapsing in the senate after a skinny version to repeal and replace it fails to get enough republican support. we will have live reports from capitol hill and complete analysis of what is next for health care. lauren: drama at the white house as anthony scaramucci uses let's face it vulgar language to lash out at reince priebus.

cheryl: right now you can see the futures understood slight pressure overnight. you did have a big selloff in technology yesterday yet amazon sliding after results and a lot of red arrows fractionally for u.s. markets right now. lauren: red arrows in europe as well friday morning. world market reaction from london, fbn:am starts now. note ♪ ♪ cheryl: 5:01 a.m. here in new york. friday july 28th, good morning, another hour of fbn:am. lauren: congratulations, we've all made it to friday morning. the breaking news this morning is this, hours ago the senate failing to pass so-called skinny bill to repeal parts of obamacare. three republicans voted no on that measure. cheryl: we have adam shapiro standing live on capitol hill with the latest on what went

down overnight. catch us up, adam. adam: good morning to both of you, pretty dramatic when john mccain casted his no vote. you could hear gasp in the chamber. president trump tweeting about three hours ago right after the vote and here is a quote of the tweet. 3 republicans and 48 democrats let the american people down as i said from the beginning, let obamacare implode, then deal, watch. both sides democrats and republicans agree with the president that obamacare needs to be fixed. the president wants it repealed appear replace. democrats will tell you it needs to be fiction. susan collins of maine, she's been consistent, voted no in 2015 against repeal. john mccain and lisa murkowski from alaska, tremendous pressure to senator murkowski, it did not vote.

from the beginning i believed that obamacare should be repealed, the so-called skinny repeal amendment the senate voted on today would not accomplish those goals. leader mcconnell said this just about two hours ago on the floor of the senate. >> i think the american people are going to regret that we couldn't find a better way forward. we look forward to our colleagues on the other side suggesting what they have in mind. so now, mr. president, it's time to move on. adam: that move on might include working with democrats to at least show up some -- sure up some of the insurance exchange. here is what minority leader chuck schumer had to say after the vote.

>> let turn the page in another way. all of us were so inspired by the speech and the life of the senator from arizona and he asked us to go back to regular order. adam: regular order doesn't guaranty that they could pass something any time soon. so where do we stand as as throw it back to you, cheryl, lauren, the senate will be in session on monday, the house, they are out of town. they will be on recess. lauren: wow. i guess it's good the senate is coming back. adam, you'll be coming back little later in the show. thank you for the update. cheryl: the question for all americans right now, what's going to happen next, what the next for republican efforts to repeal and replace obamacare if there's anything to do at this point. joining us now senior policy

analyst at the independent women forum and democratic michael star hopkins, good morning. >> good morning. cheryl: certainly the question here is for the republicans anyway, do they reach across the aisle, chuck schumer was in passion and now said that he wants to work with republicans to fix obamacare, not repeal, not replace, fix, is that a possibility in washington as we know it right now in. >> it is, i don't think weapons have much other choice. there is republican and democratic legislation that's been suggested that will work on the cost-sharing subsidies and will work on reissuance of high-risk pools and how we can provide carrots for insurance to come back to marketplace. this is not left versus right, this is about right versus wrong. lauren: do you consider what john mccain and how he voted no, was that brave or did he really

hurt the republican party? >> i think it's a maverick move which he's well known for that held the upwards for repeal and replace. it didn't. i think what's interesting about this and to my democratic colleague on the panel here, the areas where democrats and republicans can work together. i mean, the big issues around medicaid expansion, around the individual mandate, these are areas that are not going to be kumbaya moments from the left and the right to come together. i chuckled when i saw senator schumer getting misty eyed and talking about the life of john mccain. how ironic it is hearing coming from him. cheryl: to be fair, they've worked together for decades, patrice relationships can and sometimes work for the benefit of the american people, but michael, let's talk about what

the democrats may be able to agree with republicans on, they we wanted to eliminate mandate, business with over 50 employees you don't have to have to hand out health care and, of course, get rid of medical tax issue, the medical device tax. can democrats come together on any of that with republicans, is any of this possible? >> i think with the medical tax, democrats will absolutely support. democrats will talk about buying state exchanges. there's definitely plan for democrat support. we accept that there's improvements that need to be made to obamacare, i think republicans and democrats can come together and get this behind us so we can move forward and start focusing on things like infrastructure. lauren: patrice, he said one of the mayor failures was that it was ran through congress by democrats and he doesn't want to do the same here. do you see to cheryl's questions

in -- do you see democrats and republicans working together? >> i think there's difference in policy side. buying insurance across state line could be a bridge. that's just a small piece of the major challenges with obamacare. i do think that it's important that republicans and democrats can work together and get things done that actually help americans. i'm locking ahead to tax reform and that's a big area where democrats would want to come to the table and support what the administration wants to do. cheryl: we are all looking forward to tax reform, patrice, michael, we appreciate your time this morning. lauren: anthony scaramucci speaking out after an interview with the new yorker which was published last night. this is what scaramucci tweeted. i sometimes use colorful

language, i will refrain in this arena but not give up on the passionate fight for donald trump's agenda. all of this coming, well, after he used vulgar language in a phone call with the new yorker writer to accuse the white house chief of staff reince priebus of being a paranoid schizophrenic. cheryl: anthony scaramucci accused of steve bannon of trying to varnish reputation. >> i think that sometimes we have a lot of passion, not just passion for the president and the agenda but sometimes when you have the best people from around the country coming in with a variety of backgrounds, very different perspective, you may not agree on everything. i think we have to push forward and that's exactly what we are doing. cheryl: both priebus and bannon oppose scaramucci's appointment as communications director. i don't know what he said but if

you've been to trading floor it's pretty colorful. take that into account. lauren: house speaker ryan has dropped controversial plan, border tax. maria bartiromo sat down with the speaker to discuss what is next for tax reform and the impact it can have on economic growth. maria: do you need to find revenue somewhere else? >> of course. the point i'm making with all the tools we have to make sure when we revenue estimate our tax reform bills we take into consideration economic effects, that helps a great deal, from the traditional status basis that people describe it as this will be a tax cut and we will be able to do it in such a way that conforms to reconciliation so we can get this passed. maria: you're expecting 3% growth. >> i don't think we can get to 3% growth.

i really believe the secrets to getting 3% growth which clearly is a goal we can achieve in the country, regulatory relief. tax reform. you can't get to 3% growth without tax reform. lauren: you can watch entire interview at 6:00 o'clock eastern time right here on mornings with maria after the show. cheryl: really looking forward to hearing the full interview. coming up, we have a late-night drama to tell you about. you may have heard things didn't work on the senate floor overnight to repeal and replace obamacare. we will have the latest on the fate of health care reform efforts. now where do they stand? also look at how the failure will effect insurance company stocks and the market overall and we are watching amazon this morning, the stock fighting over 4% overnight. part of latest earnings, kind of a rough quarter, what does this mean for jeff bezos in is he still number two behind bill

gates? you're watching fbn:am. >> if you look at the stock prices since the affordable care act, hospitals, pharmaceutical skyrocketed, clearly there's something wrong here because patients are paying higher and higher premiums and taxpayers are paying for more that. so all that to say the problems persist, hopefully we can address them. ♪ [brother] any last words? [boy] karma, danny... ...karma! [vo] progress is seizing the moment. your summer moment awaits you, now that the summer of audi sales event is here. audi will cover your first month's lease payment on select models during the summer of audi sales event.

lauren: if you're just joining

us we do have breaking news. the senate rejecting skinny bill, three republicans including arizona senator john mccain joined democrats in voting no. senate majority leader mitch mcconnell said it's time to move on. cheryl: well, we are going to move to a big story, what's going on with uber, another high-profile candidate is topping the short list to fill the vacant ceo position. lauren: whoever becomes ceo company ipo's may have nice payout. traceetracee carrasco with the latest. hi. tracee: uber considering jeff and early in the week that had been circulating for the job, meg whitman. we have a lot of work to do at

hpe and i'm not going anywhere. uber's ceo will not be meg whitman. cheryl: now we know. lauren: i'm looking at amazon shares down 2, 3% in the premarket. they reported revenue that was pretty god last night but not so much for profits. tracee, no not so much for profits. the profits missed wall street expectations on thursday sending shares down 4% in after hour trading. company reported far below than analysts predicted. amazon's quarterly revenue rose 25% to $38 billion. operating expenses increased across the board and cost of sales, pull fillment and technology content which partly explains why it slumped. cheryl: speaking of amazon, jeff bezos, ceo, hit a milestone

yesterday, tell us about it. tracee: he did, jeff bezos started out as the richest man dethroning bill gates who held the top spot in 2013, thanks to surge in amazon shares ahead of its earnings report that gave bezos net worth of $93 billion surpassing the microsoft founder $90.8 billion fortune but that was short-lived, bezos slipped back to second place. lauren: poor jeff bezos. tracee: yes. lauren: thank you very much. cheryl: more time to work out and not worrying about being the richest man in the world. lauren: settle for second. cheryl: exactly. back to breaking news overnight we have been following for you, how would the failure of skinny repeal amendment affect health care stock, of course, the overall market, specially today nelson chief strategists at bell point. >> good morning, thanks for having me.

cheryl: a lot happened overnight with the failure with mcconnell and republicans on getting anything done. we are seeing dow futures under a little bit of pressure. do you expect this to be a piece of thetory for traders today as to what happened with health care? >> it was certainly part of it and as news leaked out in washington the market took a hit but also coincided with a report out of jpmorgan's team calling for correction in the market. that's part of what you're seeing this morning and on the heels of am done kind of miss on bottom line yesterday, that's going to be weak and hard for the nasdaq. lauren: health care sector is down 1 and three quarters, it is up for the month but one lagging sectors, we are starting to see health care fall a little bit. what's your take on health care after this vote to -- fail to go repeal and replace obamacare, what's your take on the sector going forward? >> going forward i like the sector. my models are pushing me into

this sector and forcing me to take money from health care to make those buys. you see selloff in some of the stocks, a company that i own missed expectations in a lot of levels. you saw horrendous announcement coming out astrazeneca in europe, part of the reason for the decline this week but the failure last night kind of resets the entire thing, you know. i thought looking at this bill there was a sense of desperation that they were trying to get this through. frankly mistake for the administration to lead with health care, tax reform would have been much better place to start, a lot of bipartisan support there. cheryl: i've asked the same question, david, the answer i have been given procedurally but how washington works, the butt certify made there, that they had to do health care first, but here we are. let me ask you this, though, the question about october,

americans are going to start getting their health plans, quotes for 2018, i'm thinking a lot americans specially those under the exchanges, those that are left are going to have sticker shock. the insurance companies have the power here. >> they do. there's going to be a reset, there has been a reset. you have seen as much as 3% in some areas, 100, 200% in others and that's helped sure up some of the insurance companies. they are not in the business of losing money. they have to price this in a way that they can actually make money. i think for the mechanics and actually for congress as a whole i think obamacare while it's failing, it probably wasn't failing fast enough for them. some reports coming out of kaise institute by raising prices 300% you can affect bottom line and some insurance were holding in. lauren: specifically with gdp report this is the first quarter, we are expecting 2.6%.

almost double what we saw in the traditional first quarter. paul ryan told we are not going to see 3% without tax reform in. >> he's right. without it it's impossibility. you need things like repatriation that would bring a lot of money from overseas that would spur infrastructure spend that would boost the economy, that would be good news for us all. cheryl: it would, part of the interview will be airing on mornings with maria coming up on the fox business network. >> i'll be watching. cheryl: yeah, we will too. david, thank you very much. >> thanks for having me. lauren: it's friday, fox meteorologist janice dean will have the forecast. we will be back.

where's jack? he's on holiday. what do you need? i need the temperature for pipe five. ask the new guy. the new guy? jack trained him. jack's guidance would be to maintain the temperature at negative 160 degrees celsius. that doesn't sound like jack. actually, jack would say, hey mate, just cool it to minus 160 and we're set. good on ya. oh yeah. that's jack.

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lauren: if you have weekend plans listen up. cool weekend actually. cheryl: some people don't mind it. janice dean knows that. she has her forecast. janice: it could be a lot worse. if you live in new jersey, it's going to be a wet windy weekend for the folks in new york city, might not be too bad. 72 right now, 73 in cincinnati, 69 in chicago. you can see the showers and thunderstorms along frontal boundary and potential for heavy rain across

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(group conversation) ♪wooooo oo waa ahhh ♪it's a beautiful mornin' thank you ♪ahhh, ah ahhh ♪each bird cheryl: breaking news this morning, the senate failing to pass the so-called skinny bill that would have essentially gotten rid of the individual employer mandates to repeal parts of obamacare. three republicans including senator john mccain joined all democrats and voted no on that measure. lauren: let's get into exactly what happened with adam shapiro this friday morning. hi, adam. adam: good morning to both of you, the senators are tweeting about the need to repeal of obamacare and this is what president trump tweeted few

hours after historic vote, three republicans and 48 democrats let the american people down. as i said from the beginning let obamacare implode and then deal, watch, the three senator who is killed the skinny repeal amendment were susan collins of maine, john mccain of arizona and lisa murkowski from alaska. john mccain issued a statement soon after the vote and said, quote from the beginning i have believed that obamacare should be repealed and replaced where a solution that improves care for the american people, the so-called skinny repeal amendment the senate voted on today would not accomplish those goals and then, traffic, there's ted cruz, ted cruz is a senator who try today salvage this thing with his amendment that would have given people choice and provided insurance at cheaper premiums, here is what he had to say? >> i believe this congress will come back and in time we will honor our promises. you know, senators are going to

go home in the next few weeks, go home to states and face constituencies, they are going to have hard questions of people that look hard them in the eye and say, why did you lie to me, not just the senator who is voted no, but the senators that voted yes, the voters are not going to distinguish, they are going to say, you guys promised to do this and you failed. adam: now, there's still time to do it whether they can do it is another question, as we talked earlier this morning, september 30th is when the legislative vehicle by which they could do some kind of obamacare repeal and replace through reconciliation, the simple majority, september 30th is when the time does, indeed, run out. cheryl: they want to get to tax reform, so i think that answers the question there. adam that siro, thank you, a lot of great work overnight. thank you. >> thank you. lauren: white house communications director anthony scaramucci speaking out after an interview that he gave to the new yorker which was published last night. this is what scaramucci tweeted.

i sometimes use colorful language, i will refrain in this arena and not give up the passionate fight for donald trump's agenda all of this coming after he used vulgar language in a phone call with the new yorker writer to attack chief of staff reince priebus and steve strategists steve bannon. he said in part, quote, here you go, fired one guy the other day, we have three to four people i will fire tomorrow. reince priebus, if you want to leak something, he'll be asked to resign very shortly, reince is paranoid, schizophrenic and paranoiac. i'm not steve bannon and i'm not trying to build my own brand off of the expletive, i'm here to receiver the country. cheryl: sarah huckabee sanders appeared on the story last night on fox news channel to explain

the situation. >> i think that sometimes we have a lot of passion not just passion for the president and the agenda but sometimes when you have the best people from around the country coming in with a variety of backgrounds, very different perspective, you may not agree on everything. i think we have to push forward and that's exactly what we are doing. cheryl: both priebus and bannon reportedly opposed scaramucci's appointment as communications director. colorful language in the trading floor, you know. lauren: infighting continues. attorney general jeff sessions sharing his thoughtings on president trump's recent criticism over sessions recusal from the russia investigation. trump expressed disdisappointment in nation's law enforcement official in series of tweets and news conference at the white house. well, the attorney general addressed criticism against him with tucker carlson. >> it's kind of hurtful but the president of the united states is a strong leader, he is

determined to move this country in the direction he believes it need to go to make us great again and he is -- he has had a lot of criticisms and he's determined to get his job done and wants all of us to do our jobs and that's what i intend to do. lauren: what a strong answer, he's confident, he made the right decision to recuse himself from the russia investigation. cheryl: so many republicans have come out with their support of jeff sessions. lauren: he was an early supporter of the president and he is carrying through on his agenda. cheryl: yeah, a lot of questions about what's going to happen next. let's bring in senior policy analyst at the independent women's forum and democratic strategists michael star hopkins. good morning to both of you. >> good morning. cheryl: let's go back to what just happened patrice, all senators and congressmen will be going home to districts and a lot face-to-facing very angry constituents, patrice, how did

they handle this? >> for those who voted to repeal, i did my job and for those who didn't, i think they are going to answer very tough questions. i think some americans, though, who lock at the obamacare law will recognize that congress has exception from obamacare, from the onerous cost on americans who do have it. why does congress have exception and carve-out and we don't. >> that's actually a great point. congressmen and women should have the same health care that all americans have and i think that obamacare while has flaws, there's definitely improvements that can be made. we need to stabilize the marketplaces, we need to get insurers back in the marketplace so we can make sure that people have health security because at the end to have day, health security is national security and no america should have to worry that they will go bankrupt

when they get sick. lauren: the attorney general jeff sessions called -- he did an interview with tucker carlson of fox news, how do you think sessions is handling the criticism that he's gotten from the president and do you think the president will start to listen to fellow republicans and back down at this point? >> i think he's handling it as best as he can. you don't want to come out negatively against the president and make it seem like you're working against him because you're trying to -- he's your boss. i do think it's a tough position for him to be in. we have seen -- we have seen the support rally around him on the hill, i think, you know, i think he will try and hang in there as long as possible and, you know, i do think, though, that it sends -- it says about the administration and the president, you know, you have a lot of supporters out there, you know, let's make sure that you're working with the folks that you put in positions because -- there's a reason why they are there.

>> i think it also sends a miami to republicans. jeff sessions was the first senator to back donald trump and now not only publicly shaming him but gone after his character, that sends a miami to republicans that loyalty in the trump administration is a one-way streak. cheryl: we will see. we will see how the president handles him. he has not said that he will fire, he's not going there. that's not necessarily what we may see happen. michael, i do want to move to what's happening to anthony scaramucci, those comments about reince priebus in a regular white house would be his boss, maybe not, how does this all play out in your opinion politically? >> you know, i think that this is going to be one more pox on this white house. there's something to be said about the office of the presidency, the white house and the level of respect that you treat it with and i know that we talk about the new york trading floor and kind of the language and the boys club but this is the white house and children look up to this building, americans look to this office for leadership and to use that

kind of language under the title of the white house i think it's disrespectful to the white house, disrespectful to americans, what you say in private is one thing but when you come to the record and say -- cheryl: anthony scaramucci has come out and said that he will be watching his language going forward, but -- >> this is habitual. >> voters wanted to see a change in washington. this is what we are getting. anyway, patrice, michael, thank you very much for your time this morning. >> thank you. lauren: when we come back we saw devastating blow hours ago for repeal of obamacare, what's next for health care reform? we will see how the economy will hold up if obama -- if it's not repealed, what happens tote, does it implode in richard branson giving up control of the company he founded why? we will have that story. stay with us. >> if personal, this is not a political gain. this is personal for every one

who cares about their children and wants to make sure they can take them to the doctor ♪ hey, i'm the internet! i know a bunch of people who would love that. the internet loves what you're doing... ...so build a better website in under an hour with... ...gocentral from godaddy. the internet is waiting. start for free today at godaddy. they call him the whisperer. the whisperer? why do they call him the whisperer?

he talks to planes. he talks to planes. watch this. hey watson, what's avionics telling you? maintenance records and performance data suggest replacing capacitor c4. not bad. what's with the coffee maker? sorry. we are not on speaking terms.

cheryl: breaking news this morning, senate rejecting to repeal senate portion of obamacare, three republicans including senator john mccain voted no.

mitch mcconnell said it's time to move on. lauren: tesla revealed hacking capabilities on model x. cheryl: this is kind of scary, tracee. tracee: good morning, ladies. for the second time chinese security researchers were able to hack tesla model x turning brakes and getting doors to open while blinking lights and music stream from the radio and researchers found the unauthorized christmas show, the hacking sending malicious to control via wi-fi and cellular connections. researchers told tesla of discovery, the company patched vulnerabilities within two weeks tesla said it encourages this type of researching so that it can prevent potential issues from occurring. cheryl: richard branson, frequent guest at fox business

is selling company, a big chunk. tracee: he is, majority stake in virgin, airline he founded in 1984. the virgin group announce that had he was selling 31% to air france for $36 million. branson retains 20% interest leaving delta as the largest shareholder with 49%. airlines said the moves are in part to broaden partnership and will reinforce the strategic commercial and financial ties. apple killed ipod nano leaving apple touch remaining portable music players. apple said it's a move to simplify line-up by only offering the two models of the ipod touch. original ipod was not the first portable music player but helped apple transition from being just a

computer company to tech giant it is today. lauren: apple comes late to the game and beats out competition. cheryl: i know that you don't listen to music on your phone but you might want to start, lauren, streaming radio on apple music and running outside. it's like listening to something that was downloaded my phone. i don't need the nano anymore. lauren: unfortunately, maybe i should start running too. cheryl: you're joining. tracee, thank you very much. [laughter] lauren: what is next for the health care economy is the question we are asking. good morning after the failure, the devastating plow to gop efforts for seven years dr. seigal, i begin with you, we

have obamacare right now, if imimplodes, what does that look like for patients? >> you know, lauren, the problem with doctors starts with electronic health records that we have mandatory use, meaningful use. we are looking at our back and then we have more and more regulations, we have to see more patients in shorter amount of times, the one leg of the stool, three-legged stool of obamacare that was knocked out last night would have been the mandate. what's interesting the mandate that is you buy insurance when in fact, there's no mandate that the insurer stay in the market and no mandate that the insurance takes. it's a rigid policy, we don't have the networks that we need for it. you are looking at a future, you come to the doctor's office, you end up paying towards deductible, you don't get the care you need and they may not have the specialist or the hospital to send you to, there's no evidence that that's going to

change right now and that really worries physicians. cheryl: peter, what does this mean for the u.s. economy if obamacare stays in place or implodes? >> we don't deal with the fundamental cost problem. americans spend 18% on gdp on health care, the germans have a very similar system but only spend 12. the six percentage points is a huge burdennen on -- burden to american businesses. my partner is canadian, as liberal as they come, the first thing i noticed in the doctor's office and hospitals is how many more people you have running around to comply with your system.

now, when our health care system is less efficient than canada's socialize medical system we are in a lot of trouble. i do a lot of trouble in addition to bbc in addition to fox, my colleagues are not just complaining over there what they are getting the way they complain over here. >> i want to add to peter's point, we don't actually know what we are buying in the health care system. there's no price transparency. insurance companies shield us from this. patient doesn't know which one they are getting and how much they are being reimbursed or what's negotiated on their behalf by insurance companies. we had an idea of increasing health savings account. more payment out of pocket, more incentive for patients paying themselves for what they actually need. that's one of the reasons in addition to inefficiencies that peter mention that is the prices are going so hi.

-- high. lauren: now just get it done. cheryl: we will find out. coming up we have a lot more to talk about as far as markets go. we will get the reaction on failure, live report from london is coming up. it was an 11th inning comeback for the new york yankees, yeah, you heard me right. we will have all the sports highlights, jared max will be here taking a lock at futures right now they are pointing to a slightly lower opening right now but again second-quarter gdp back to change the game special write with good news. you can see green on your screen. we are watching fbn:am, we will be right back. >> i believe we will come back and we will honor our promise, this is how we will do it. way we get to 50, the way we get to majority, honor promises, we focus on lowering premiums and

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cheryl: welcome back, time for sports, big comeback for the yankees against division rival tampa bay rays. yankees down 5-4, gary sánchez hit it is pitch up the middle and gets through the infield. bret gardner scores to tie the game. look at it again. why not? thinking that the ore had it. the pitcher throws up arms in disbelief, there it is. bottom of 11th still tied at 5. eighteenth of the season.

the teammates at the plate. we should add, aaron judge broke a tooth in the celebration. washington nationals put home run derby. five home corruption in third inning against the brewers, four of them in a row. brewers pitcher setting a record for giving up that many long balls in one inning. urschel is working on the next stage of his career. he happens to be pursuing ph.d in mathematics at mit, we wish him well. giants wide receiver oh dell beckham, jr. not going to come cheap, the giants appear to make

him the highest-paid receiver in the nfl but that may not be enough. listen to what he said. that'll be interesting. nfl's highest paid player, beckham thinks he's worth more. lauren: ego, i suppose. global market reaction. not only the failure of the senate republicans latest effort to dismantle parts of obamacare but also the selloff in technology stocks that is continuing today. nasdaq down is almost 1%, look at the futures. you're watching fbn:am. >> i think that if the president were keeping his promise you'd see 100 people support the bill because it's actually consistent with what people at home want, they want more transparency when it comes to health care, they want more affordability, they

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lauren: we are seeing a selloff for day two in technology stocks and we are seeing global markets react to senate's vote to health care reform and how this is influencing your investments this morning. let's bring in riva gold joining us now. hi, happy friday to you. >> happy friday. lauren: what are they responding

more to, health care or tech? >> tech, tech is definitely the big story this morning. amazon's results really disappointed overnight and that's rial fueled the continuation of the selloff in tech that you started seeing in wall street yesterday. that's rippled over through asia where you are seeing tech shares down across the board from australia to japan and hong kong and you're seeing that as well in europe this morning. the overall tone is pretty weak in global markets, europe shares are down the most in quite a few weeks and it's looking like -- looking at u.s. stock market futures the nasdaq is poised for further losses as well. that's really dominated the global tone today. cheryl: it is a good thing to point out, riva, it's european regulators that have a problem with tech, they are the ones going after the bigger tech names for collusion, for anticompetitiveness, is the regulatory environment going to get better in europe against big names that are american

companies? >> we are going to have to wait and see on that one but certainly the sort of impact of that as you saw in google earlier this year did definitely cause a big of a selloff in the sector and has been one of the sort of the number of reasons people are getting a little bit worried about a sector that's rally today fresh highs and really driven a lot of the gains this year not just in the u.s. but around the globe, european tech shares have been leading, asia shares have been leading so any action on the regulatory front is going to be closely watched in the weeks ahead. lauren: let's dig into amazon for a second. their profits fell by 77% in the quarter, that's pretty bad, yet, revenue beat, but investors aren't selling off shares in a big way this morning, we are seeing selling but not intense, what do you make of that riva? >> yeah, people really never bought amazon for profits and revenues, it's really being a bet on future growth and where