>> that is investment in technology. presumably same-store sales being stronger. you can process more people. charles: absolutely amazing. dow is up 40 points. hand it over to neil cavuto. take it away. neil: i don't know what the whole fast-food fuss is about. i hear it is popular. i did. thank you guys. meantime as charles was saying the economy showing a little bit more growth than we thought possible, but particularly important we'll get into it more this hour, what kind of role you're playing the consumer. consumer spending. that is running at an incredible pace. that is 2/3 of the economy. think about it. we're on that. also on market reaction to that. powwow was more wow than pow. nancy pelosi sitting with alexandria ocasio-cortez. we're told it was polite and

perfunctory. now it is done. t-mobile, sprint, they're coming together. charlie gasparino has the breaking details on sprint t-mobile, what happens now. the concessions that were made, what it could mean for industry. will we go to blake, guys? blake is available. first you were missing in action now you're doing your job. you are doing your job. the white house come out to say essentially we have had much stronger, you know, gdp read, paraphrasing here, if not for the federal reserve spoiling the party, that is essentially it, right? port pot the favorite punching bag of the president and the white house is out today. very first reaction from president trump, focus on 2.1% gdp number. he took to twitter to say that the fed has quote, wrapped an anchor around our neck. that tweet from the president, saying it wasn't bad. usa ready to go forward but the fed is the problem here. his top economic advisor

larry kudlow also blamed the fed when pointing to a different number. you remember neil, earlier this year the white house made the argument looking q4, over q4 the economy grew at a 3% clip. it was a big told you so for the white house, for economists. president's economic advisor we hit 3%. we tell you this. our policies are working. however the -- the latest revisions in the gdp number, show the number is 2.5%, and not at 3%. believe you might have heard larry kudlow. this was his take on that? >> we have faced in the last two years severe monetary tightening. we had seven rate hikes. that's tough. some said it is a miracle we've done as well as we've done. reporter: kudlow pointing to the fed there as it relates to the 2.5% reading q4 over q4. we heard from nancy pelosi in

her press conference, just a little while ago. she focused on the 2.1% reading. it proves that the president's policies aren't working. >> tax scam that they put out there has not produced the growth that the president was boasting would happen. and that it hasn't produced the revenue. hence we had to lift the debt ceiling earlier than maybe people than expected t didn't work. it didn't pay for itself. reporter: interesting, neil, harry kudlow acknowledged earlier today as it relates during the kennedy tax cuts the economy soared after reagan. they acknowledged they haven't hit the 4% number or 5% number president trump had been promising that would happen. kudlow says he still believes they can get to 4%. there are many skeptics especially when you look at revised q4 over q4 number, just

2.5% last year. neil: what they're saying it is the fed's fault, not theirs? >> federal reserve, an anchor wrapped around our neck. seven rate hikes under the president. president obama had rate hikes. -- cuts. we had rate hikes. neil: we have some, i say the camera adds 50-pound. they see me in person, they say no, it doesn't. thank you very much. good to know that is the latest excuse de jure. new record for the nasdaq, briefly. google contributing to that right now. announcing obviously better than expected numbers, also on earnings, revenue front, buying back $25 billion worth of its own stock. but it is, one of the few tech giants doing really, really well today. a lot of the tech indians carrying us into this record territory here. alphabet, parent of google doing

very, very well. up better than 10% of the pricey issue up better than $118 a share. jackie deangelis and much more. >> camera adds 10. a lot of commentary from president. google, double beat for the company. paid clicks up 20%. cost per lick down 9%. it comes back on. the president tweeting about google this morning. he said there may or may not be national security concerns with regard to google and their relationship with china. if there is a problem, we will find out about it. i sincerely hope there is not. the president also tweeting on apple. apple will not be given tariff waivers or relief for mac pro parts in china. make them in the usa. no tariffs. amazon saw a record run of earnings come to an end.

profit margin compression came from $800 million in spending during the quarter. that was to improve the business. things like delivery, infrastructure changes, amazon prime makes one day shipping the norm. aws is the cloud, it is the growth part of the business. it is the shining star. 37% growth for the quarter. not so bad. lower than first quarter, 41%. twitter hitting it out of the park as well. the stock sharply higher. the president's favorite platform doing well, neil. neil: indeed. that was a surprising there. i guess the big goal is that that people, more people getting involved, staying a little longer, makes a big difference. >> it does. neil: thank you very, very much. meantime how is the fed reading all of this? does it necessarily mean given the environment, and given the slowing gdp data we have been seeing, whether blamed on the fed and rate hikes prior or not? are they more inclined to go ahead and cut rates, a quarter point?

that seems to be consensus bet end of next week, middle of next week. former dallas fed advisor, danielle dimartino booth. what do you think? >> i think the fed was inclined going into the report to cut rates. i don't think this will change their thinking at all, especially what we saw come out of europe yesterday and the obvious inclination that our big trading partner has to begin lowering rates when they next meet on september the 12th. the euro is, dollar is 22% overvalued compared to the the dollar and that is obviously having an effect on our exporters. we saw exports fall 5.3% in this gdp report. imports were flat. so all of the fears that the fed has been talking about, that trade war will have detrimental effect on economic growth. we've definitely seen that. for all of the strength we saw in consumption, consumption was 4.3%, fastest growth rate since

2017. we saw business investment fall by 0.6%, the first time since 2015 it is the fed's duty to pay attention to all different inputs into the economic growth data that we saw come out this morning, take them all into account when they meet next tuesday, release a statement on wednesday which the market is presuming will have the first rate cut. neil: what did you make of larry kudlow, by extension, the president talking about the fact that the rate increases are what results in this softer number, still better than expected? and that we would be doing a lot better if not for those rate hikes? not say anything about the trade policies that could also be crimping things? >> well you know, it is interesting. we had hurricane harvey hit and then we had this huge surge of tax cuts hit the economy. that was followed by a lot of companies buying ahead of the chinese tariffs.

so there have been, there has been a tremendous amount of stimulus put into the economy over the past few years, that has been a major offset to the the fed's tightening campaign. but if you think about it, 2.25% we're sitting on overnight rate going into past recession, neil we had more than double that, economies were not necessarily sputtering with tightening to a greater degree. just doesn't hold a lot of water to me. last year when the tax cuts were put through in q2, we woke up, saw that economic growth hit 3.2%. you know, on a year-over-year basis we literally flipped that. that is now 3.2%. i think a lot of stimulus measures out of washington, d.c. have worn off as the trade war set in. it has less to do with fed policy than what the administration was saying. neil: one thing we know about trade talks, we're not going

anywhere, a promise almost from the federal reserve, look, we have your back. we'll lower rates. assuming that remains the case, does that last as long as we don't have a deal in place? >> oh, i think the uncertainty overhang is something that is certainly going to keep the fed engaged. if we see continued decline here in business investment, if we see a continued drag on our manufacturers and on our exporters i think the fed would be compelled to lower interest rates again on the december 18th. that is six days after the ecb meets on december the 12th. the more countries lower their interest rates harder it is for our big mull at the national exporters to sell overseas. i think that keeps the fed engaged. neil: okay. it is confusing. we see a lot of political stuff versus numerical stuff. former dallas fed advisor,

danielle dimartino booth. the decision announced on the 31st. the consensus is a quarter-point cut on interest rates. so they would still be low. obviously they would be going a little lower. t-mobile, sprint, done. charlie gasparino with us now. charlie? >> neil, it's a done deal, the 26 billion-dollar merger. there will be some recalculations how big this thing actually now is that so much spectrum has been diversed. in order to get approval from the justice department both companies had to divest spectrum. sell it to dish. dish will take it. mobile's place or excuse me, sprint's place as the fourth largest wireless carrier. they will create, charlie ergen will create his own wireless carrier. there is a lot of implications for the deal. we'll talk about some of the companies here first. there is a question whether dish can be competitive in this market. clearly they didn't sell too much spectrum to dish to make it so competitive that they were going to beat it.

t-mobile and sprint. as a forth competitor will they become sprint which was troubled, had a hard time competing on price. watch dish's stock. they have already been downgraded. that is a very volatile chart. second thing you look at doj consent decree which is very interesting. lydia moynihan was first to point out. it was supposed to come out yesterday. it was delayed a day so the justice department can snare a couple state ags, they will not sue, join in the consent decree. that is what he did, he got five of them, he being, makan delrahim head of antitrust division got five state ags that to blunt antitrust case going on with other state ags. that is interesting. keep watch on this. the trump administration and larry kudlow, economic guys are

busy trying to spin the gdp numbers and employment numbers. you will see them take victory laps here. they say clearly this puts corporate america in the driver's seat, 5g, wireless buildout to compete against the chinese. they believe combined t-mobile sprint will be powerhouse. t-mobile sprint was able to sell merits of the deal on that to the trump administration. now they got it through. so this is a big thing on a number of levels. this company finally gets to merge. they have been at this since four fourth. not just this year. the deal was proposed in 2018. john ledger tried to do this in 2014. obama administration said no. mr. ledger is happy camper.

watch state ag cases. they're still out there. i will say one thing, i feel very proud, that like, there was a guy that watched joe dimaggio, saw joe dimaggio, saw him being a great baseball player. i'm doing that with lydia moynihan. a lot of reporters read "wall street journal." she broke the stories, calling people. made fox business looking good. particularly with investing public. we beat cnbc every step of the way. neil: not too shabby. congratulations to lydia and to you. thanks very much, buddy. nancy pelosi and alexandria ocasio-cortez had a sit-down lasted half an hour. we're told by nancy pelosi all went well. we have not heard yet from congresswoman cortez. that could be coming up soon. after this.

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neil: looking live at house judiciary committee chairman jerry nadler, will continue to seek testimony from key witnesses in impeachment push. you might recall that house speaker nancy pelosi said we'll go where it goes. she was obviously not keen on this becoming a 24/7 obsession on part of democrats. she is walking a tightrope. just as she is with some progressive members of her caucus, including alexandria ocasio-cortez. the two of them meeting today. it sounds like about half an hour. hillary vaughn with the latest how that went. hey, hillary. reporter: neil, house speaker nancy pelosi is going into summer recess feeling pretty good after she worked out things with troublemaker in her party, representative alexandria ocasio-cortez, the head democrat on the house spent 30 minutes of

face time with the freshman representative. the pelosi posted a pic with the two all smiles at morning meet-up. she said differences are not a bad thing. she made that point with cortez today. she says she wants to work with her. says there is no bad blood between then. speaker pelosi spoke about that at the press conference where she said there was never a hatchet to bury. they are looking forward to working together. leaving the meeting pelosi told our fox crew it went well. alexandria ocasio-cortez who used social media to do everything from spread progressive message, to live stream herself cooking in her apartment. she has not said anything on the meeting about twitter or instagram. she snuck out of pelosi's office avoiding press and cameras.

she is staying quiet. pelosi is out in public staying pretty good. neil. neil: we have not heard from congresswoman cortez? >> right. neil: just waiting on that. thank you very much, hillary. "daily caller" chief chris bedford on the meeting. i don't know how it went. it lasted seemed about a half an hour. have you heard anything on it at all? >> not from inside of the room. only from change in tone from the speaker of the house, nancy pelosi, how she wanted to describe it. she has been switching here, neil, there are no differences between us. there is no hatchet. we're all one party, to, okay, there are major different repses between us but it is my job to weave everyone together, weave everyone together under one big tent. it is a slight switch in messaging. if she was able to get alexandria ocasio-cortez to dodge reporters, dodge cameras, dodged tweeting, she has reason to be happy here a few days. neil: this is remarkable.

you've been following washington a long time, chris. this fresh man congressman has this impact and import for speaker of the house, to meet with her one-on-one, to obviously try to clear the air, i guess, try to bury the hatchet, if there is such a hatchet, it says a great deal about her influence in the influence of these three others, that i'm wondering where this is going? >> democratic party dealing with what the republican party dealt with a few years before. which is the old rules of speaker. you could basically crush dissent. you can remove people from committees. dry up someone's re-election funds, to change their future. that is done now. outside groups, outside pressure groups. social media allows activists in the party to have a massive platform. if you have it all going on like that congresswoman does, and allies you have a lot of power here. neil: i'm wondering too, what you make of what is happening on

capitol hill right now as we're speaking. the number of the democrats who have been pushing impeachment, including jerry nadler, others who are saying, we're not giving up the fight, we'll call more witnesses, we'll keep doing this, what do you think? >> i don't think it's a very good idea. it is equivalent of gop decided to run where their only platform was their concerns about benghazi. the democrat have points, there are interesting things that went on in that mueller report may be overlooked by the broad american public but it is not an election platform. right now for the last couple weeks, all we've been talking about are mueller, that unfortunate performance earlier this week. also about these freshmen congresswoman. there is not oxygen for the democratic presidential candidates for them to speak, break through the news. it is not a great strategy. neil: we'll watch it. chris, have a good weekend. >> you too. neil: chris bedford. north korea and iran are similar in this respect.

they like to launch missiles. in north korea, short-range missiles. in the case of iran, longer range missiles. they're both sending a message but how do we respond? after this. here you go little guy.

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>> we are beginning stages of developing a maritime initiative. we asked the french, germans, norwegians, south koreans, i'm sure i missed a few. every country that has insuring waterways are open and oil, other products that flow through the strait of hormuz needs to participate to protect not only their own interest but the fundamental understanding of free and open waterways. neil: that was secretary of state mike pompeo telling our bret baier that nations have to protect waterways against iran this is we're learning that iran fired some medium range missiles just last night. an indication is wants to even

charge a toll for those nations that bring ships through the strait of hormuz which tehran says which is their waterway, not international waterways. hudson institute senior fellow rebecca heinrichs on all of this. what do you make of this, rebecca, far from being coward, they're getting pretty bold? >> these missile tests are provocative. neil, the iranians tested these missiles which are incredibly provocative, medium-range ballistic missiles at the same time the north koreans are testing shorter range, incredibly dangerous missiles as well. north korea and iran have a history of sharing, work with one another on missiles and so it sends a message that they are here to continue to coerce the united states. missiles give them an incredibly powerful, coercive power, leverage over the united states. neil: so what do we do? now obviously the president has been very, you know, cautious in his response. he kind of leaving the world to

say, nothing of the iranians, guessing. but what do you think is going on? >> yeah the president, also secretary pompeo are downplaying, in my view the significance of these tests. they still want to stay with the course that they're on, continue maximum economic pressure. leave an open hand for negotiations and be militarily restrained. but, the truth of the matter is, this is incredibly dangerous. iranians trying to do everything they can to get the gulf partners to buckle under the pressure. to decide, maybe they will have a deal with the iranians. maybe what the united states is doing isn't working. then, so, what the united states has to do at this point is, that there has to be a line at some point which we say, you know, enough is enough. tell the iranians we'll not tolerate the missile tests. we have to keep the waterways open. it affects the entire global

economy. up with of the first things i would do advising the president we should have a miss sell defense -- missile defense -- neil: we lost our audio. christina, are we back with you. >> i can hear you now, neil. neil: i'm sorry. rebecca. i was moving ahead with the show here. what's the one thing you were touching on that we have to do? >> we have got to invest in missile defense systems and deploy them regionally because what you do, if you have a missile defense system, they don't have to be perfect, perfectly reliable, but we have to protect our assets in the region. we have to show the iranians and the north koreans, you know, it will be bedevil having large missile arsenals. the better a defense against the missiles credible and reliable, the more we take their coercive sting out of it. i would be investing in missile defense capabilities in the region. neil: i apologize for that technical snafu. appreciate you joining us.

have a safe weekend. i guess that would apply to the whole world especially what is going on in that neck of the words. the kristina i was referring to is kristina partsinevelos beefing up a second technology fund. this one well over $100 billion in commitment. the first one was $100 billion. they have a lot of money there after this. -driverless cars... -all ground personnel... ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade.

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megafund a lot of big numbers attached to i, a lot offing investors. kristina partsinevelos on top of that at the new york stock exchange. hey, kristina. >> this is a massive fund. vision fund ii, will rally $108 billion. 38 billion directly from softbank. the other 70 billion comes from a lot of other big name investors. "wall street journal," the investors say apple, microsoft, broadcom. this is after it launched first vision fund two years ago. it was worth over $100 billion. it almost revolutionized the way the tech industry invested. why? this fund was the largest one out there. influenced a lot of other competitors to get more investors on board. take larger stakes into startups. contributed to fact why many new tech companies are not going public as soon as they did in the past. so this vision fund invested in uber, door dash, to name a few,

slack to name a few. if you wanted to join the fund, you needed to at least give $100 million. according to softbank, the original vision fund, you saw in the companies. invested with a lot of money at stake. why the second fund rallied so many people, a lot of interests, apple, microsoft, to be, those names just once again. the company says that, first fund pretty much got an annual return of 7% to its investors. paying out a lot. if you're wondering, neil, all our investors where the future lies, according to the ceo of softbank, it lies in artificial intelligence, more specifically predicting what all of us will do. that is what they plan to invest in. back to you. neil: wow. big job. but a lot of money behind it. kristina, thank you very, very much. it is gabbard versus google, talking about the presidential

candidate, tulsi gabbard, angry at google, that it slights her, omits her, makes it hard to find out what information around her campaign is doing. she is not alone. she is not the first candidate to have issues with the search engine. jared levy what is going on. whether that put the company at disadvantage, more likely getting scrutiny in washington which is already is, i guess, right? >> obviously the doj launching an inquiry, research inquiry into big tech to see sort of the reach of how companies like google and facebook an amazon and apple have become so big. but getting back to google for a second, remember, they settled a dispute with the ftc back in 2012. kind of evaded some big fines. i don't believe that google is like, oh, yeah, let's go ahead and attack politicians who already have it out for us. let's, you know, make it more

difficult for ourselves. the issue with tulsi gabbard is that her google ad account was shut down just after the debate. apparently, according to google it was due to billing issue which was automated. i can tell you my experience with google ads, a lot of stuff behind the scenes is automated. i don't think the executive team was sitting back there, okay it is time to flip the switch on gabbard. you can still search for her. you can get results. she couldn't place additional ads for section hour after the campaign, after the debate. neil: she would not be the first candidate or politician to say google or technology has not been fair to them. but having said that, the president is on the wires right now tweeting about france wanting digital tax on american technology concerns saying that if anybody taxes them, referring to the companies, it should be their home country, usa. we will announce a substantial reciprocal action on macron. referring to emmanuel macron,

leader of france this foolishness shortly. i always said american wine is better than french wine. what he is saying here what they're doing is unfair, isn't what his administration wants to do to rein in these tech companies potentially going to be worse for them? >> how does that help us? at the end of the day, isn't it the consumer? how does slapping fines, levies, with does that do to make the playing field pour level for everyone from gabbard to the average joe on the street just trying to search for something, wants their information unfiltered? reality big data, it is what it is, right? google is big for a reason. they have the best offering, fartherrest reach. they have been around for 21 years. they control 90% of search. they do that because people continue to go to them. i think a lot of it is because people don't understand the algorithms. i believe the whole doj investigation, all the stuff going on, there is a little bit

of a black box or a lot of black box going on that makes people uncomfortable. i believe they want to uncover that, which i don't think is going to happen. that would make everybody feel better that puts google at disadvantage if they disclose how their algorithms for search, things like that. >> it is not hurting as you said the stock today. it was sprinting over 10 bucks. but right now having the best day in over four years. it is looking buying back $25 billion worth of its stock. even at these levels, would you buy it? >> i liked google for a long time. i stuck with google as it went through. it was the worst performer out of its peers all year up to this earnings report. i kind of stuck by google, i think they're doing the right thing. i think they have a lot of hands in a lot of pots. i think a lot of other companies like apple, a lot of car manufacturers per se, for instance, with their map software, they need google. we need google.

because we've wrapped them into our lives. it is kind of a weird love-hate frenemy kind of thing. i like google. they're putting money where their mouth is in terms after share buyback. that is trick to make the stock theoretically more attractive. if they're buying that, it's a good sign for the future. neil: if you like the stock, you want to see stuff like that, not the opposite. thank you, my friend, have a great weekend. jared levy. mcdonald's stock having a good quarter, i don't get a thank you note. i don't take it personally. the real beef craze versus what is really real beef after this.

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this is truecar. neil: the united states senate, debt ceiling measure looks like

it will be a slam dunk in the senate there even though a lot of republicans kearned about it. there were 149 no votes in the house yesterday. a good many of them were republican. as you can see here, about 132. virtually entire so-called freedom caucus. a conservative group, largely 40, a little bit more than that strong who have real issue with our digging ourselves into a deeper hole. one of then joins me now, house freedom caucus member warren davidson. congressman is not a fan of this. looks like it will pass and it will happen. what do you feel about that? >> not compassion not to bankrupt america. i was glad to see a majority of republican conference take a stand for fiscal discipline. would be negotiating a good deal. wish we were putting us on a path not bankrupting the country. neil: president says he is okay with this, what do you think of that? >> what he went through with the

government shutdown. he doesn't want to play brinksmanship with that path. i understand that we need to balance the budget. that is one brand uniting most republicans, certainly amongst conservatives. neil: not all. are you angry at your leadership? >> i was disappointed to see our leadership pushing for a bill that the progressive caucus was celebrating. while we do need to fund the military, first and foremost as a federal responsibility, would say higher priority is fiscal sovereignty. you can't defend a country that goes bankrupt. the seven yesterday union we didn't defeat them on the battlefield, not that we couldn't because they went bankrupt t took them a decades to become on the central stage. go back to the cold war when reagan was president, we were spending a lot. that was taking out the first mortgage. when reagan talked about his concern for spending we were borrowing 70 million. we're borrowing 100 million an hour right now.

so this is, this is a unsustainable path. effectively we're borrowing money from our enemies to defend our country. we need to change course. neil: we never do, to your point. the reason why i mention it. it is not a done deal, debt ceiling notwithstanding. you have to vote on 12 difficult measures to keep the government going. we could still be facing potential shutdown but how likely does that look to you? >> the first step was to agree on spending more money. so then, they can go do an omnibus. this essentially telegraphs the plan. they will spend an awful lot of money. hopefully they agree how to spend it. there is no funding to your point. there is no funding for the president's priorities at border. no funding specified exactly where it goes. that will come in september when we get back in session. neil: congressman, your state, ohio, these polls, it is stiller have joe biden leading the president by close to double

digits. does that surprise you? >> it is stunning in. we were talking amongst republicans n ohio our congressional delegation is primarily republicans. obviously in our districts the president remains popular amongst republicans but remains popular among independents. we did a telephone town hall he polled 83% popularity. not a scientific study. all participants in my telephone town hall, overwhelmingly win the 8th district. neil: some of states where they see dramatic drop in unemployment, pickup in activity, they're raising more money, more revenues coming into the state, and the president isn't benefiting from that. does that make sense to you? >> i think people bank the gains, take some of that for granted. right now a lot of folks are concerned about trade. they want a settlement with china we were rooting for resolution to usmca before august. that looks like a good path.

hopefully we accomplish that in september. trade certainty as markets look at would go great things for the economy. would be tremendous for ohio. neil: congressman, thank you for taking the time. have a good weekend. >> you too. neil: suddenly worries about a recession in 2020, just in time for the election. really? hey, who are you? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?! (laughing) what?? what?! what?! [crash] what?! haha, it happens. and if you've got cut-rate car insurance, paying for this could

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neil: this would be a party downer. a lot of topflight folks are saying you know what? this big recovery kind of peters out. in 2020 we're looking at a recession. could it be that way? fbn co-host lauren simonetti on that. by the election? >> in the third quarter.

right before we go to the polls, bam, recession. cillo asked 100 experts realtors, economist, when do you think the recession will hit? 50% said in 2020. then among that expectation, the third quarter was the most popular. but don't get all hot and bothered and alarmed here. they did this same exact survey last year and folks also said 2020, except they were predicting second quarter of 2020. i think the idea is, last year we were approaching what could be the longest ever expansion. now we're in the longest ever expansion. it feels long in the tooth for a lot of people. so thinking is something will happen. neil: this is real estate people. i know they are economists. but that has been showing hiccups of late? >> it is tilted towards real estate people. chief economist at fannie mae were asked as well as danielle dimartino booth who you had on. neil: cool. >> what is interesting they said the cause of recession would not

be housing like it was in wave wave -- 2007 or 2008. the cause will be trade. housing will be affect by a recession obviously. but if you look where the housing market is now, it is not, supply of homes is the problem. neil: right. >> supply gets a little bit worse but not terribly worse. so they're not expecting to be hit too hard. neil: one of the things that comes up in this kind of survey and others, you see it in some housing data, people who are just afraid to commit themselves because of all of the factors you alluded to. we had a very long recovery. do i want to chance this, push this. >> yeah. neil: even the elizabeth warren warning, you know the ingredients are there for another housing meltdown. then it scares the bejesus out of everybody. >> it would be so difficult because of policy changes in place to have the financial

crisis the way it hit the housing market happen all over again. neil: right. >> in the same way. we are, this is and encouraging sign for some people, if you look at big markets on west coast, los angeles, prices are coming down and -- neil: they were in nose bleed territory. >> they were too high. so that ceiling had to crack. as we tee this up to, okay, this is going to happen, potentially this recession right before we go to the polls in 2020, i think "fox news poll" of the other day. neil: which the president hates. >> he hates it. 51% of us say the economy is good. that is the most since 2001. neil: he likes that aspect. >> other poll. neil: fake muse. >> we are polls. they won't always be polls. neil: fake polls. >> we're uneasy about things, how long will it be good for? forever. forever. neil: mr. president, your approval is at 99%, that is the ticket. >> he would love that. neil: just saying. thank you very, very much.

lauren simonetti. meantime we told you about justice clearing the way for t-mobile or sprint to come together. they had to do a lot of fast and loose things at the end to make it happen. the read on that. ...

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neil: all right we're up about 28 points on the dow right now in the meantime new poll numbers are coming out one key state after another, the big money and the holy grail seems to be in south carolina, that is a must- win state we're told for joe biden, and conveniently he is leading in that state for the time being but we've got a long long way to go and iran knows a thing or two about provoking people but the medium-range missile test is doing more than provoking us, it's the entire region and it comes only 24 hours after north korea was doing something similar on the short range missile front. the white house is on both of these developments will keep you posted. two items that could be holding up the china trade deal. we'll tell you about that,

because hour two starts right now. all right, the president would probably not like to hear this but his growth is now averaging about what it was for the obama administration, 2.1% in the latest quarter now that was a little bit stronger than some thought but it is down from the 3-plus percent growth, he had been registering and furthermore last year did come under 3%, so things are slowing down a bit, but the president likes to say it has nothing to do with him, it has everything to do with the federal reserve and all of those rate hikes if not for them we'd be a lot stronger larry kudlow pretty much echoing that point today let's get from the read from former jpmorgan chief economist anthony chen, and will ryan and last but not least,

political science professor, is it jean? >> whatever you want to say. neil: so let me get your take on what the president is saying. it's still a good number, it's just not as strong, and the president is saying don't put it on me. put it on the fed. what do you think of that? >> it's a better number than most economists were predicting so for that reason he should be happy. i understand that he is not and of course his shifting the blame to the fed, i mean poor jerome powell this is something that he has been suffering under for his entire time there. i do think all signs look like they are going to make the cut. i wouldn't say it's cemented. neil: but the federal reserve will cut rates next a quarter point? >> i think some of it depends on what's happening and what does happen in china, but i do think that it looks more likely than not, given what we've seen today. neil: you know, well he could make the point given that report , it actually heightens a

cut possibility, right? >> yeah, i think it plays into the fed narrative that we've seen since the beginning of the year, this sort of repositioning argument around rates so i think that it does play into their narrative about -- neil: well of course. >> probably a quarter point, still, but there's no doubt that the economy is starting to decelerate and while it's still growing, clearly going from 3 point gdp down to 2, it is a bit of a deceleration that's something that we certainly see from investor base in terms of people positioning portfolio starting to think about a little bit more defensively. neil: the trade decides a lot of things, right? and i don't know where this trade thing goes but if we don't get a trade deal, the bullet share given is the fed keeps cutting. >> well the fed can keep cutting to stimulate the economy on the point that the president has made, he's right. if all of a sudden interest rates were at the lowest levels of course we'll stimulate the overall economy.

the reason why the fed raised rates is because the economy was improving and at this point, it's still doing pretty good. is it slowing? of course it's slowing but this is the longest economic expansion we've ever had in u.s. history so you should not be shocked but in terms of when we're going to really see a recession or something like that , it's probably going to be pushed out. neil: well you saw the survey, i don't know how much stock they put in it but where they were saying we'll have a recession in 2020. eventually we'll have a recession. i'm not smart enough to know when but what do you think of that? >> i think we've been saying that for a long time, right and you look at the slow down in the world economy and you're right. it may be pushed out, certainly but it's probably going to come and of course from a political perspective, this is very problematic timing. neil: you don't want to in november? >> you don't want it august, september, george w. bush can tell you that you don't want it around that time so that's where i think we may see an investment in infrastructure or some kind of infusion if there starts to be a threat of a slowdown.

>> but keep in mind that what you have in housing has been six consecutive calendar quarters of negative economic growth in residential housing, so if you're in a housing sector like zillow, there's been a recession already but the rest of the economy is going good. consumer spending growing at 4.3 %. neil: that is amazing. >> we've seen in a long long time so that is not at all a sign of a recession. neil: consumers are upbeat. that adds to their buying impetus. >> i agree with anthony that sitting here in new york, the markets for the real estate has been soft for some time now so if you're active in that market, then you probably are already thinking it's a recession, so major metro markets, not looking as good, but -- neil: soft in this market, in this city, is not getting $100 million for your penthouse apartment and living with 90 million, but i do get your point. i'm wondering whether, do you see what zillow and others in their survey, where the anecdotal part where houses are

listed longer, they're cutting their prices but the buyers just are not out there, and/or out in the numbers to keep this going, unless i guess rates, they have a lot further to go to zero. >> again neil you shouldn't be surprised because over the last couple years guess what's happened? housing prices have accelerated faster than wages and even though wages are starting to show signs of life, over the last couple of years, the buyers are behind so what we have here is a situation of affordability. an affordability problem. that's why housing is going down that's why existing home sales are slowing and new home sales are slowing and by the way, the sellers are still not even believing, they're keeping a lot of the supply from the market. neil: and not budging on their price. >> but at the same time the buyers are being priced out. it's not a big shock that we're seeing numbers. >> it comes back to the fed again the pressure to lower interest rates, and get people to refinance mortgages again, and so with interest rates dropping, let's try and keep

this housing market going as long as possible and we'll keep the economy going. neil: do any of you and i'm just seeing what's happening abroad particularly in europe where interest rates are falling at a faster rate, the signs that europe will cut rates, even faster, and greece i think there's a record low rates under 2% so where is that going? are they a preview of company attractions for us? what do you think? >> in this world there's no way we can stay isolated on an island here unfortunately so as the world economy -- neil: but we have. we have done better but you look at all those forecasts we will be impacted by that, in a negative sense. it's just a matter of when. neil: well doesn't the president make the point the lower their rates go the softer their currencies get, we're at a trade disadvantage but for no other reason then we should go as low or lower than them to give "our bodies, ourselves" the same as why he slaps jerome powell

around, right? >> but something like government bonds with an issue around the world with negative interest rates. neil: is that right? >> 25% of all of the debt out there is negative interest rates , but in terms of europe, the reason why their currency might get a little bit weaker is because what are the determinations of the foreign exchange rate? it's relative economic growth and interest rates and now before he leaves he's leaving soon before the end of the year, is already paving the way for lower interest rates. neil: another cut in september. >> yes, and maybe even more quantitative and christine la guard has been a big proponent of stimulus and also said that monetary stimulus doesn't do it countries should also do fiscal stimulus and of course over the last 48 hours we heard from germany that they're not that anxious to do fiscal still stimulus but they get pressure to do fiscal stimulus. remember last year in germany they had a budget surplus and the room to do it. neil: it's an outside the box kind of thing but you also look for developers or something expected if boris johnson makes good on his commitment whether

deal or no deal to leave the european community and all of a sudden, markets tank because there is no deal and it's all fractures that seems to be the consensus view of what happens if he leaves with no deal. is that really what would happen >> well, i mean, it's difficult to say obviously, but i think the pound -- neil: you take him at his word that that october 31 date is term and whether he has a deal or not he would leave? >> i think he's put himself in a difficult position reverse that, so it looks like that's a thing. i think that my kind of view on it is that it's going to be very very difficult for boris johnson to go back to the eu and re negotiate this deal. they've been very clear. neil: they told them yesterday we're not, right? >> so i don't see them now changing their mind just because there's a new prime minister and say okay well now -- neil: maybe they're worried about this guy, but in a good

way you want to be unpredictable right so maybe they will make a deal. >> i think he has put himself politically in a real bind here. he has committed so much to this i don't see him being able to back out and i don't see them allowing him to. neil: but what if we're wrong on this. it's not britain, it's the european union more worried because if the sun comes up the next day and britain is still surviving and then they've got all their members in a world of hurt, italy's a mess, greece isn't doing too much, portugal, spain you just mentioned record low rates going on in places like germany you could start making the case they're really worried. >> well if you look at the economic studies and analysis have been done the biggest impact will be on the uk because of all of the uncertainty that it brings. the spill over into the rest of europe is about 25% or so, so -- neil: what if that consensus is wrong? >> well it may not be 2% or 3% hit on the uk but the 25% negative spillover, i have a hard time believing that's not going to happen. >> and you know what i would

say to watch for it as a black swan is because of the love between donald trump and boris johnson if there is some unexpected agreement there, we may see something sort of unlikely and these are two figures who will do things unexpected so there may be something to watch there with their relation. neil: the common hair thing. >> they have a common hair thing. [laughter] neil: but there is a virtue of it being unpredictable. they don't know what to make of what your move will be. very very quickly if you don't mind and i know you will come back later but this move on the part of the french to go after u.s. tech companies with a a tax on them the president not happy tweeting we could play the same game and it's going to get nasty here and doesn't have nice things to say about employee manuel macron, where is this going? >> this is something the eu tried to implement at a national level and it didn't work so now nation states are starting to do that. france, obviously the uk is talking about doing the same thing. the fundamental challenge is that we're in a political situation whereby these

companies pay very little to no tax in the countries that they do business, so whether it be france or in the uk, and countries are really struggling with how to get some kind of revenue for that. politically, it's a hot button issue because the general public don't like to see corporations not paying tax, and so somebody like the french government is starting to implement something. i think that given the way the tariffs are shaking out, they would be easy for the president to do some kind of retaliatory tariff or not and ultimately nobody wins. neil: well what the president is saying is just do all your business here. don't locate abroad, don't even have operations abroad. i think that was the just of it. it's unlikely. >> but again this is just the first cousin of all of the trade tensions we have. it's extending into the tax situation. we're always trying to improve economic growth where you live, every country is doing it, along with the united states, but as will says, that usually doesn't

have a happy ending if all the countries start acting that way. >> and the public does not have an appetite as will mentioned for big corporations not paying taxes. you look at just in the states alone. neil: you're right about that. >> people are not happy when they get these big tax breaks, so there is political pressure on these governments to take action in this regard. neil: and easier to do so with american companies. >> than foreign companies. neil: guys thank you very very much in the meantime, a lot of the democratic presidential candidates relegate wall street but at least three of them are getting some money from wall street. who do you think they are? well we're showing their pictures right now, after this. your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity.

neil: all right, the house ways and means committee is adding richard nixon in a push to get the president tosses tax return, so they have been there.

they have done that, to chad pergram whether they can redo that. what do you think, chad? >> well in 1,974 the ways and means committee and the committee on joint taxation between the house and the senate got back years of president nixon's tax returns determined he owes about half a million dollars in back taxes using section 6103 of the tax code and that's the precedent the ways and means committee is trying to apply here. they had a contentious meeting about what they initially termed historical documents, vis-a-vis the tax records of president nixon and that's what they are using to try to get the tax records of president trump. they didn't allow staff into the meeting and put u.s. capitol police guarding the doors and afterwards fox spoke with the chairman of the ways and means committee. >> unlike the idea of just speculating all of the time, we worked on this. this is a long court case. >> now what they're doing here

on capitol hill as democrats are going into the august recess trying to create a narrative of investigations, house speaker nancy pelosi this morning said here is the three tenants as they try to quote "own august" her term, legislate, investigate , and litigate. and neil i just came from a very confusing, frankly, press conference with house judiciary committee democrat about what their tactics are here, but we tried to pin them down, are they trying to conduct an impeachment inquiry or not? and jamie raskin, a democratic congressman from maryland said well it's an impeachment investigation, but the republicans say if it walks like a duck and quacks like a duck it's impeachment and they can try to tar all democrats as being for impeachment and a democratic congresswoman from new hampshire came out today in favor of impeachment so that number is starting to grow just a little bit since the mueller hearing but that's the issue with the narrative as they go into the august recess. now speaking of house speaker nancy pelosi, she had a meeting today with alexandria

ocasio-cortez, the freshman democrat from new york, and we talked to ocasio-cortez after her session with the speaker. >> [indiscernible] >> we're looking forward to doing our work, and as always, i think the speaker put together the party. >> i asked pelosi what her differences were with ocasio-cortez, and pelosi wouldn't react, she says i don't want to go there. neil back to you. neil: was she going into the meeting at that point? >> no that was after the meeting, at that stage, and she would not get into that. she said look, we have a very nice meeting but that's reflective of this democratic caucus, as it exposes itself on

impeachment and a host of other issues frankly. neil: man, oh, man, you're everywhere chad, way to go my friend. chad pergram reacting to all of that the democratic polster, michael bloomberg advisor, so much more. how do you think it went? >> not well. you see aoc who really didn't want to say anything and if chad pergram got the speaker to say " i don't want to go there" on issues it sounds to me like they talked past each other, neil. neil: so it was polite and nobody is ripping the other but we do know nancy pelosi came out to say it kind of went well and all this and respects her and all that. we didn't hear the same from her >> no, we didn't hear the same from her and we didn't hear that they agree on anything. neil: and they don't. >> and they don't and as i look at things, it's in aoc's interest to keep speaking out because as the data shows i think the latest fox news poll, aoc is almost as popular with democrats as the speaker.

neil: she's got a bright future. >> very bright future. neil: whether you agree with her policies or not and all presidential candidates are mimicking her views and that is not nancy pelosi. >> that is certainly the case. neil: so i want to talk to the presidential race and biden and some of these poll numbers that look good in states like ohio and in states like south carolina, he seems to be in poll s stabilizing at least. what do you make of that? >> well stabilizing but we're going into another debate. he's going to be on the stage with somebody who at least in south carolina i think is going to be his principal rival, kamala harris, and south carolina's primary is about 55, maybe even 60% minority, the vast majority of that african american and the big question is can joe biden hold that support in 2007 african americans supported hillary clinton over barack obama, we know how that ultimately came out and that's what's got joe biden worried. neil: joe biden has no trouble

raising money it's essentially welcome from the financial community. a couple of others doing the same. does that come back to bite them , help them, what? >> well, i think it is for the democratic primary, unnecessary evil. it probably is a negative. it probably will get used against him but if you're sitting in a room with people who are going to write 2,500 odd dollar checks, and you've got hundreds of them, maybe thousands around the country, pretty hard to turn that money down, unless you have another source of funds, like elizabeth warren and bernie sanders. neil: soys is one to watch because she's eclipsed bernie sanders. what do you make of that dynamic >> there is going to be a left candidate, a progressive emerge and i agree with your assessment , neil. i think it's more likely in this cycle it'll be elizabeth warren than bernie. bernie is actually taking votes away from warren if he were not in the race, i think warren would be even stronger. neil: you always warn me it's very early to rely on polls,

you're exactly right about it but having said that there is some interesting polls for the president having a devil of a time in states like south carolina, in states like ohio, particularly against joe biden. what do you make of that? >> well the president's strategy, given the good economy , has been to really focus on cultural issues, some instances racial issues, and at all junctures i think polarizing , for reasons that i don't think helps him, and if you look at the numbers up on the screen, it's pretty clear that the president is in a point where he's in the 40s in terms of approval vote sharing. my advice to him, if he was listening? talk about what brings us together, what unites us, our common values and common purpose , and just cut out the division, the polarization that americans don't like.

neil: well, but he will argue, all of this stuff got me elected , all of this stuff keeps me doing things that everyone said i couldn't do so let's assume he doesn't do that. >> right. neil: it would be that rare moment, right, where the economy that is doing well, markets are doing well isn't helping. >> well it could be. now if we get the softening in the economy, you were just talking about with the three economists and we get one democrat to emerge, even a left democrat it could be a very very close race, a closer race than it needs to be, with biden appearing as you suggested to be by far the strongest democrat at this point. neil: all right, just get your read of markets and i always wanted to ask you about this because i don't get a chance to talk to you nearly as much as i like. the president keeps touting the stock market hit record after record after record it's on fire , and i'm wondering how that registers. democrats say yeah, that's fine but very few people participate

in the stock market when actually, directly or indirectly , many many do, but having said that, is there a risk for him marrying himself so much to the stock market? >> there is because we could get one, a downturn, we see economic growth softening to 2.1 and the democrats have an argument. if they get off this impeachment pitch, of look, people need jobs , they need training, they need retraining, wage increases haven't really followed, as you were saying the cost of housing or day-to-day goods. if the democrats can develop an economic narrative, it could make the presidents argument much less potent and less salient. neil: you mentioned impeachment stuff and jerry nadler still firing on all cylinders with the pitch push despite what nancy pelosi has said kind of thread the needle carefully. what do you make of that? >> well nadler next year is facing a primary in his own district from someone who has

said look just impeach him right now, so nadler is trying to thread his own needle. neil: and they remember the experience, right? >> exactly, crowley, third ranking i think in the house, expecting to be speaker now, a lobbyist and rest assured the one thing politicians care most about, getting re-elected. neil: that jarred a lot of them. >> sure did, it does. neil: thank you very very much. i want to keep you updated on twitter right now. it's soaring, its got the most users it ever had including one i think who lives in the white house. a little more after this. my experience with usaa has been excellent. they really appreciate the military family and it really shows. with all that usaa offers why go with anybody else?

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external companies like qualcomm they want to make their own devices in this case, so this just basically allows them to do that. neil: you can update me on the whole 5g thing and obviously this is paving a way for that or i suspect. how soon will that be a reality and how will we see it? they talk about this is going to be 5g ready, but when is 5g going to be ready? >> yeah, so i think he will start seeing it in phones within i would say the next year or so, but the problem is the networks aren't there, so all these tower s, all these delivery mechanisms need to be built and 5g's range is very short in comparison to what we have now so they need way more towers so that's really the biggest stumbling block that people have right now for getting 5g out in the world. the phones will have it you just won't be able to connect to anything. neil: i'm in a community they don't even like a single tower nearby, so all of these little mini towers where they are all hooked up and correspond with one another, does the phone

default to 4g or even before that, 3g, what happened? >> the phone will default to what we're using now essentially , so you won't really see a huge difference, but if you buy a new phone and it's like wow i have 5g you opt see the 5g speeds you're hoping to get because the towers aren't there. neil: so when they say 5g on the phone they're lying, so they say 5g then i see a little emoji with a little laughing face. >> unless you're in a very specific part of the country like maybe 3 blocks in lower manhattan you are not getting 5g neil: what did you make of i call it the google phenomenon here. you have everyone's uncle is zeroing in on this company including the administration. it has off the chart earnings and revenues, and 25 billion of its stock is up 10%-plus today in the face of all of that, what did you make of it? >> yeah, honestly, i think it's a very transition-y period for

specific apple. i think given these tariffs are just hovering over them and the recent announcement that they wouldn't be exempt from the tariffs is obviously a little bit worrying but i think long term, they are still going to have that stability. now, google on the other hand, i think, is more positioned because they are more cloud- based that's where they make their money is revenue and through cloud services, various other services, so they aren't as reliant as these hardware companies that need these physical objects to make money, so they're not as hit by things like tariffs, for example. neil: yeah, or so they hope, right? let's see what happens. russ have a good weekend my friend. >> good seeing you. neil: all right, iran and north korea are actually exactly the same way with missile launches. do you think the two leaders talk on the phone, and talking to kim jong-un, you're going to launch a short range missile, i'm going to launch a mid range missile? do you think it comes to that

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neil: well who knows maybe just coincidence but iran and north korea both acting up in the last 24 hours with separate missile tests of their own, to the assistant secretary of state under bush 43, robert charles. good to have you back. >> thank you. neil: coincidence? >> well i think that we're operating in two different spheres with both of these

countries probably a bit of a coincidence or just a copycat action. the bottom line is that this president is being judicious in the way he interacts on the international stage and in particular with iran and with north korea as well as with china. i think in iran they have to be especially careful right now. we have a dialogue going in north korea and i think behind the scenes that'll get better with time as a bit of an educational process going on about giving up nuclear weapons and what happens for the better if they do that. in iran it's very different. i think that the president has held fire here, and i would caution iran because i think at this moment, a misstep could lead back to the kinds of things that happened in the 1980s, there were a couple of operation s in the 1980s, and i've talked to people involved in that operation where we took out the oil platforms that were being used to project military attacks on tankers. we also took out about half their navy with the operation under ronald regan and that was when one of our guided-missiles hit a mine.

the samuel roberts hit that mine , and frankly, iran is right at the edge right now and we have other tools that we didn't have back then. we have cyber tools and we have ways to deter, i would hesitate to put them out there, but i think there's some other very specific things that could happen to their nuclear program and i would just argue this is a time for caution on part of iran i think they would be well- served by listening to enter is of state pompeo who has said we have the door open and we are willing to talk about the future right now. when it moves from talk things change radically. neil: you know, let's move to north korea and you worked under both president bush senior and later george w. bush. >> yes. neil: and normally, in north korea's case, they've done stuff like this to try to force the u.s. or others coming to the table, and that's how this is being interpreted by many at least, and kim jong-un could be up to north korea in general could be up to. if that is the case, it's failed

before, so what's to make them thinking it'll work this time? >> i think we have to look at this from 20 paces away. first of all you have a very different leader today than you had under george herbert walker bush. you have a young leader who frankly has a long future ahead of him if he makes the right choices and part of our job here is to persuade them that the nuclear weapons approach the idea of trying to put them on ballistic missiles long term is a dead-end policy. at the end of the day, somewhere downstream, whether it's kinetic or cyber or somewhere it leads to a preemptive act on our part because we won't let a missile fly with a nuclear weapon on it so i think that at the end of the day he has to look at this differently and we all look at it differently, i think, from the period of george herbert walker bush. having said that is this some sort of a prompt for us to come back to the table? lots of posturing happens in diplomacy. the best parts happen privately not publicly and this is a bit of posturing on their part but north korea is about persuading

them that the economic and even political downside is greater for them. they have greater risk by going forward with nuclear weapons than they do listening to us and looking at the incentives on the table and of course the other part of this neil that you know is we really have to bring china into this conversation more thoroughly maybe behind the scenes china, the china/north korea sort of next us is also being discussed in the context of the larger china trade agreement but the bottom line is most of north korea's trade is with china and we have to pressure north korea not to nuclearize the region, just as we have to pressure iran, not to nuclearize the region, because if you uncap that bottle all kinds of things happen you don't want to have happen. neil: absolutely, secretary thank you. always good seeing you robert charles, worked for a variety of administrations here so he brings possessors that we need these days just to follow what both of these countries are up to. in the meantime what is up with beyond meat?

right now it just seems to have a value that goes higher and higher, worth more stock wise than campbell soup is and it's a trend that is really taking up even more momentum. we'll explain, after this. [ dogs barking ] what about him? let's do it. [ sniffing ] come on. this summer, add a new member to the family. hurry into the mercedes-benz summer event today for exceptional offers. lease the glc 300 suv for just $419 a month at the mercedes-benz summer event. going on now.

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neil: all right, beyond meat is beyond a phenomenon right now. the stock is still soaring, baskin robbins is saying it's going to be launching plant- based ice cream flavors of its own so this is more than just a tiny bit of a trend here it's a rage to registered dietician, nutritionist on what she makes of all of this. what do you think? i haven't had a chance to just get your read first of all on just the beyond meat phenomenon. >> absolutely, well now more than ever consumers are asking where is our food coming from. is it plant-based, is it organic , is it local, and this shift towards more of a plant- based way of eating, i'm really excited to see it because plant-based foods are it's good for our health, it's good for

the environment, so it's something that i think is rear to stay. neil: do you know what i just don't know what a lot of this stuff though is what's in it. it tastes very good i've had a chance to taste these beyond meat burgers and what have you and they're delicious. i think even better than the beef products. i just don't know what i'm eating. >> absolutely and you know nutritionally, they have about the same amount of calories, fat , even saturated fat and saturated fat is the one that i always look for when it comes to beef products, because that's something we want to limit in excess. neil: that's probably why i like it because it tasted so good but that was probably the culprit. >> absolutely and they are actually adding coconut oil to their burgers and coconut oil also has saturated fat and it's one of the only plant-based foods to contain saturated fat and there's not enough research to say saturated fat from plant based foods is any better for us than unsaturated fats or saturated fat from animal prototype walls proteins. neil: do you know what weirds me out and i like what i was

tasting is that they do a lot of things in the case of a burger or now they're doing steak burgers and testing is still going on for that, to make it look like the real mccoy, so something that will make, you know, a burger, or look juicy and i'm thinking if you're going to that kind of trouble to immitate down to the look of the product, that just i don't know, worries me. what do you think? >> so i actually encourage, you know, a balanced diet. animal proteins provide nutrients that we can't get from plant-based foods like iron that our body knows how to absorb and readily utilize and these sort of fake meats you're right. they do add a lot. they're higher in sodium. they have to add up a lot of ingredients to achieve that same text, texture and mouth feel so i'm an advocate for real, whole foods, in a balanced diet so i agree with you.

neil: i would say that when experts like you talk about this whole balanced diet nonsense, because not a one of you, in my history, has ever said new york no, no, no, you want to go all burgers all the time, but thank you for reminding me what's important, a registered dietician is very good at what she does in the meantime the petition to change the date of hall o lien, i kid you not, after this. (indistinguishable muttering) that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches

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neil: all right, our delegation en route to china right now for trade talks that resume at least in person, no longer over the phone, and treasury secretary mnuchin and others will be there , we're told through at least wednesday but this if they are making progress they could stay longer, a deal could come soon with a read of what they're expecting we got anthony chen,

will ryan, and jeanie, are you optimistic we'll get something done? >> i'm not sure this week we're going to see much movement. i'm not convinced. i sort of strategically think this might be held out a little longer. i don't know they're going to come to an agreement this week and any agreement they come to the president is going to want to take responsibility for that publicly. neil: you know, i know that a deal is better than no deal, it removes uncertainty, it takes away impediment. do you buy that? >> yeah, i think so. i think both sides probably want a deal. i think that's beneficial; however the markets aren't doing that badly with this uncertainty hanging over us, so we'll see what happens. neil: you know, if we get a deal , isn't there a possibility that the federal reserve then can let go of this whole interest rate cutting thing? it would be a negative. >> well remember that the trade deal is one part of the

uncertainty. there's always going to be other different levels of uncertainty like the price level, but in terms of china right now, i think they have a pretty good incentive. the imf recently revised down their growth rates for china and they again are attributing to the trade uncertainty, so the chinese going into this negotiations have an incentive to at least not increase those uncertainties, so in my mind, wall street would still view a cease fire as a win, if they get a cease fire between now and the end of the year and continue the negotiation, it's still a positive and it's certainly not a negative for china but a deterioration which would be expressed by higher tariffs, would really hurt china. neil: i'm going to switch to something maybe a little more fun for the time being, the movie season thus far, spiderman looks like it's on the verge of hitting has it already hit $1 billion in sales guys? but outside of spiderman maybe the avengers, its not been a

blowout box office summer. what are we to make of that? >> i mean, first of all i did see avengers. i'm the only person in the world who hasn't seen spiderman yet, i will. >> don't go into it with a lot of soda. words of advice. >> [laughter] i'll have to take one of the kids but i do think, you know, we have seen some milestones with those too, but it hasn't been quite as robust as hollywood would like and i think we are seeing what is the long term trend in film, which is that i can sit at home and i can choose to watch. it's not like back in the day when i was younger you had to go to the movie theatre. you can sit and choose to watch and hollywood has got to figure out what they do about this switch in their industry, so they have these huge blockbuster s like we've seen. neil: but they are all sequals and we mentioned here, they were successful, but man. i don't know. >> they're not for adults. [laughter] neil: but i think the adults go to these and dressed up as the characters, i worry.

charlie gasparino i know that's you. but this is just proportionately showing up in the box office receipts would look good but really led by a few films. charlie: i think so but not only for a change in habits but what it means is that hollywood really has to really think outside the box and come out with something exceptional, because of the change in habits but i did go see the avengers end game. neil: the whole 1,969 tape thing and maybe that will work, we'll see. switching gears a little bit, again, guys, your take on this push right now, to change a day of halloween. they always want it on a saturday so that the kids are out, anyone else is out, everyone stays safe. i think that's it. what do you think? >> well if you look at halloween on a thursday, how much excitement are you going to get? obviously they reduce the number of hours but you're thinking about the economy and how fast it grows. more spending and more activity will occur on a saturday so if you're just thinking about the

economy, moving it to saturday is a win-win situation. >> i am for it, actually, and there's the economic reasons, there's also the safety reasons, and it increases enjoyment for millennials 51%, halloween is their favorite favorite holiday of the year and you can't enjoy it on a tuesday or wednesday. i'm not a millennial. neil: bigger than christmas? >> they say it's their number one, you can, neil, you can party on halloween in a way you can't on thanksgiving and christmas. neil: wow. >> so it's a big holiday. there's lots more. neil: you know? >> i'm really excited about the switch, neil. neil: i can see when governments are coming out don't you have deficits and debt to worry about but that was just a little weird are you okay with this if we push the date of halloween? >> i must admit this made me laugh. >> [laughter] >> if it was possible for halloween to get any more commercial than it is today,

than merv it to a saturday. >> isn't brexit supposed to be resolved by halloween by the way so there's something there. >> a halloween joke in that too neil: somewhere, somewhere and i'm only saying it because of your fine accent but is there nervousness post boris johnson coming in, or people kind of getting psyched that whatever, we're going to resolve this one way or the other. where do things stand? >> definitely nervousness, so he's, i think, he's somebody that has some trump-like qualit ies. in other words, he's polarizing in terms of the population back home, and so while, i think, people kind of like the personality at some level, he's also a bit of a maverick and so positioning himself at least politically for no deal that's something that some people will look favorably upon but some people will be terrified.

neil: you sound like you're in the latter group here. >> i like him. i think that -- neil: i like that he doesn't comb his hair. i think that takes guts. >> he did a good job when he was mayor of london. he's a very smart guy. neil: great sense of humor. very very funny, and he won comfort packly, he got the conservative 67% or something, not too shabby. >> to be fair i don't think that was that many sort of challenges that really were credible, but he's also, he's very well known. that counts for a huge amount as you know these days in politics. neil: absolutely, if this goes awry though we were hinting before that that could have widespread effects globally, right? >> i think if it goes awry it hurts the uk even more but it certainly has the negative spill over to the rest of the eurozone and i estimate it'll be at least a 25% negative spill over occurring because of the uk and i think for that reason, central banks are

already starting to gear up. neil: unless he's an avengers- like hero and he saves the day. >> yeah, i think he's going to, the realization that governing is a lot tougher and he's done it as mayor of london but it's a far cry but for americans this is our oldest closest allie, what happens in britain matters in an enormous amount economic ally and otherwise to the u.s.. neil: the hair thing alone makes up for it and i'm rooting for him and he was very funny in his speech when he said people question your wisdom but here we go. guys thank you all very very much. in the meantime, we're up half points here again as google on fire, up a bit more to the point that's up about 10%, and for its key owners, adding about $15 billion to their net worth. not that you were worried about their net worth, but just thought i'd share that, after this. -driverless cars... -all ground personnel... ...or trips to mars. $4.95. delivery drones or the latest phones.

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neil: president blaming federal reserve. more pointedly the seven rate hikes under the white house run for the soft report. up 2.7%. better than expected. charles payne pointed out. it is a pretty good null before. he is still not happy. charles: i'm charles payne. this is "making money." p beat earnings. stronger than expected gdp pushing s&p 500 and nasdaq back into record territory. what this could mean for the federal reserve and their decision on wednesday? speaker pelosi, aoc meeting amid reported tensions. we'll hear from aoc's republican challenger murray, who once held aoc in high regard. what happened there? can a republican win an election in the bronx? most of the house already enjoying their 46-day summer vacation. they call it a recess. not congressman chip roy. he wants pelosi to cancel the