>> i get apple stuff 33% off that never happens >> first world problems. >> however, that's amazon's response to. a spokesperson actually said we want to make everybody happy, but there's just such volume of orders that we don't have the capacity for delivery. so because everybody's so focused on getting the deal, they're not going to be that focused on the delivery. >> you sure are quiet over there. >> i hate cyber monday i won't buy anything on cyber monday amazon prime day is the new cyber monday >> you don't have to look buy, i you look at the deals, you'd be surprised. >> but they put you in the market with the deal, would you buy? >> an ipad i don't even need one. we have five already at the house. >> see i refuse to be sucked into the vortex of prime day. >> holier than thou. >>> tim hortons is expanding its menu to provide burgers for the first time ever. but there's a catch. these aren't real burgers. they're made from beyond meat. we need an expert to talk to us about that and we turn to our very own kate rogers >> now it's prime day. >> sully is going to be very angry. >>

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earnings do in fact disappoint now, the tech rally has been highly concentrated fueled by facebook, apple, amazon, microso microsoft, all up more than 30% this year. remember, microsoft alone contributed to 15% of the s&p's gains last quarter it's worth noting that growth-oriented stocks as a whole continue to outperform value-driven stocks. that can certainly change if the outlook for tech earnings deteriorates due to factors like tariffs, a stronger dollar and a china slowdown kelly, back to you. >> thank you seema mody stocks soared in the first half of this year with the dow, the nasdaq, the s&p all posting double-digit gains can that be sustained? especially if buybacks dropped a little bit and the threat of a wider trade war with europe. let's bring in the chief investment officer henry and wall wash. markets famously climbed the wall of worry. the longer the list the better they typically can do, but we are coming off a strong first half. >> the strongest first half in over 20 years following the strongest january in over 30 years. the question then becomes the longest economic expansion o

they include the tech behemoths, facebook, alphabet, and amazon we'll tell you what's at stake >> plus, in less than an hour, some of the biggest tech executives head to the white house to talk about how to take on huawei as the u.s. ban of that chinese tech giant remains in place >> and disney, as they were just talking, the king of the box office the lion king of the box office. live action lion king movie dominating the weekend and it

the amazon effect. the on-demand economy means it's more useful to have supplies closer to the economy where you can deliver quickly. one-day delivery will become a two-hour delivery and ultimately a report in the special report amazon is thinking, how can we get to 15-minute delivery. >> you can't do that from china. >> you can't but i guess that fine line vijay is the gap between what people are willing to pay for convenience and what they are simply willing to pay. >> this is the tension you put your finger right on it. as we move from an old model of globalization that was make it incredibly cheap, sell it at walmart for a few bucks. that was an efficient model. cut costs 1 or 2%. we're now entering a messier world of slow-balization but smarter, shorter, faster supply chains and that's going to create a lot of possibilities for companies that want to do, let's say, rapid turn around more innovation. innovation loops get faster when you're closer to the customer. >> so you look at india, for example

apparently was able to access a web application in the cloud service provider used by capital one, amazon, and steal this information and take it to social media and many different social media accounts brag about what she had found she was arrested earlier this week >> and the breach apparently took place in march of this year why are we only finding out about it now >> it apparently started in march and went through july. so there's still some things that are a little unclear, but it looks like he only recently was able to get into the information she had stolen and started bragging about on social media. that's where the law enforcement authorities caught her >> was the vulnerability in the cloud at the cloud provider, in other words, amazon web services, or was the vulnerability solely at capital one? >> capital one builds its web applications on an amazon cloud server so the vulnerability was in a firewall that was owned by capital one and managed by them. but that sat on an application on the cloud server. >> was this perpetrator working with anybody was she selling the data to russ

>> it's through amazon, through the turnkey portal itself. we did a story last year about lennar, one of the biggest homebuilders in the nation they were putting amazon products in lennar homes in their show rooms as part of this show and sell strategy amazon really trying to get into that home services and that home technology business with the builders and now with the real estate agents. >> and jason, if their goal -- and look, we talk about this a lot, how the the next battle is the battle for your living room, to be the smart home platform. guess who else wants to do that as far as i can tell, apple, google, what moves are they going to have to make in response if amazon's going aggressively into partnering with real estate services? >> amazon already has something like two-thirds market share when it comes to the voice assistant in your home, so they have a big, big lead, you know it's still early days, but with these partnerships coupled with just the consumer demand that they run through their website for all these other products, it

amazon posting a rare miss on eps. netflix trying to recover from its disappointment last week and microsoft regaining the crown as the world's biggest company. for more i'm joined by paul, the lead portfolio manager of the wireless fund. paul, what's the takeaway message for you here >> the way i look at this, kelly, is that as i thought it would be this quarterly earnings season has been decidedly mixed. now one of the things that we have to absorb when we take a look at companies like amazon is some companies are delivering and guiding to revenues better than expectations, which is great. but they miss on earnings per share, and i think it's mostly because of a self-inflicted wound, which is the realities of most of these internet companies. they are going to have to spend more to meet these regulations for privacy. >> in amazon - >> so fizz a company still growing its top line but missing eps for reason of a self-inflicted wound, i think that's okay. >> so in amazon's case it's investing in one-day shipping. i'm su

as opposed to offering a one-time toaster >> if we're now analogizing if that's a word. >> it is >> amazon prime, costco gold, and spotify to a toaster what, does that tell us about those businesses >> or our consumption. you open a bank account and you fall asleep. you never leave. >> unless they charge me a fee >> even if they charge you a fee, when was the last time you changed banks? >> the reason why is because i've always found the situation that i paid the least amount of fees on or zero fees no matter how much i have to transfer. >> do you bank-hop that much >> i don't bank-hop. i always find a product within my banking organization that allows me to have a fee-free situation. >> i had to change upon marriage and let me tell you, it took a lot of in-person long, drawn out. good luck. >> i hoped he was worth it [ laughter ] >> my wife and i both have separate >> so do we. >> separate banks. >>> topic for you. here's a new school. bitcoin has rebounded big time this year. and a new study shows just how energy intensive the crypto currency can be. cambridge researchers shows us that t

they're trying to turn their offices into an amazon warehouse in order to get the tech valuation. i don't buy it >> so all of this is happening as they get ready for what reportedly could be a september ipo. this is probably one of the companies with the most hide-profile criticisms of its business model even uber and lyft did not necessarily have the heat on them like wework their valuation has continued to go up, but what's interesting about this is something we hear with wework or we company is the amount of capital that the founders have allegedly taken off the table, in secondary sales, with every one of these rounds, the founder will take a few chips off the table. this happened when snap went public we're talking about an order of magnitude more that has already gone in the possibilities of the founders, which is over $500 million. that's a lot of money that they are effectively holding on to risk free, because they sold it on the ride up. >> do we know if we're looking at -- so you want the last they were valued's juan $47 billion are we expecting them to do much more than

sales are not actually amazon direct they are third-party retailers, in many cases using amazon's fulfillment. it's not just amazon's platform alone giving some argument that this isn't quite as cut and dry as the treasury secretary presented. take a look in shopify it has a $36 billion market cap. that has tripled in two years. and its business is really allowing businesses to compete without being on amazon necessarily, though as part of the latform, you can also operate on amazon. don't forget about etsy. they have an $8 billion market cap. that has quadrupled in two years. amazon was competing directly with etsy. and you know what, they are still doing just fine. one area that has popped out for amazon anti-trustwise is again that third party retailing platform there have been some complaints that amazon has a lot of data about what customer demand is for those third party goods. can then use that against its competition that might be an angle that the feds choose to pursue but we haven't even talked about cloud, kelly you know, amazon has not really tied the retail and cloud businesses c

. >> announcer: coming up, amazon's prime day isn't just about amazon anymore how others are cashing in on the company's big day. plus, one billionaire investor says google should be federally investigated why? and dozen his role on facebook's board have anything to do with his call >>> and coffee without the coffee beans this is "the exchange" on cnbc. . they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪ . >>> welcome back to "the exchange," everybody that time of year again, amazon's prime day is in full swing. it is a 48-hour discount bonanza that promises a massive number of sales and new prime members for amazon but this year, competitors are throwing their hats in the rick we will explain that with lauren thomas who is cnbc.com's retail reporter and courtney reagan welcome to both of you what's different about prime this year and why is prime so prime to amazon? >> so prime this year is longer, longer th

but this is, amazon is going to deal with some of the same problems that established hundred-year-old retailers will deal with. >> as people learn more about it, will they not do business in pennsylvania how could they ever be responsible for every third party product sold on their platform this is a story to follow. >>> a major airline is making a strange request to passengers, to say don't fly check this out >> do you always have to meet face-to-face could you take the train instead? could you contribute by compensating your co2 emissions or packing light >> i mean, this is part of klm royal dutch airlines' fly responsibly campaign they're trying to cut down on carbon emissions flights only account for 3% of global co2 emissions >> only? >> it's like liquor companies saying drink responsibly >> i thought they were going to say, use smaller shampoo bottles, lose weight >> eat less, stop breathing. >> it's so european, isn't it? >> this is all marketing >> it's green-washing. >> if they were being serious about it, they would make the carbon offsetting compulsory they would say, we're

amazon hits the right note and american eagle jumps on the cbd bandwagon. that's all ahead in rapid fire advanced safety technology on a full line of vehicles. now, at the lexus golden opportunity sales event. lease the 2019 es 350 for $379 a month, for 36 months, and we'll make your first month's payment. experience amazing. - my degree from snhu has helped me tremendously. (gentle music) the flexible class schedules allow me to go to work full-time, run my catering business and be a mom and parent. when i reached this accomplishment, it was like, it's here, it's happening, it's now. souwe, atern new hampshire university, are the ones who succeed. we are the ones who break through. >>> welcome back let's catch you up on a few stories that should be on your radar today. it's rapid fire. here with their takes are leslie picker bill, you're supposed to be in that chair today >> that chair? >> youwant to switch >> no, i'm -- no, no, wait i'm hooked up to the chair can't do that. >> i was going to say. i know our director can handle it alan can handle anything

amazon's bonanza kicks off at 3:00 a.m. monday this year it's over two days it's expected to generate nearly $6 billion in sales for amazon interestingly enough, big names like walmart, target, and best buy now offering up their own deals. this is turning into the new black friday >> it is and the question is will people actually turn to the competitors or will they just go where they think they can get these deals in what's known for just having the lowest prices? i will say, though, stretching it out to 48 hours does give consumers more of an opportunity to do some price discovery by looking at other sites. so we'll see how that translates into sales >> i've been a long-time prime member i am overwhelmed and it's not even prime day yet i am overwhelmed in the lead-up to prime day i've got the coupon that says they're going to give me 10% off prime if i shop at whole foods i'm about ready to say no to cyber shopping all together because i'm so overwhelmed >> wow >> i mean, am i a leading indicator? maybe. >> on the cutting

with facebook about this coin >>> next up, lady gaga is launching a new beauty line exclusively for amazon she gives retailers some serious star power as they are making a bigger move into cosmetics she said they're the right partner because it embraced self-acceptance. it will be available in september in nearly a dozen countries. >> so, it's a delicate thing all these luxury companies and even retail brands are going into partnering up with stars and saying this will sell. rihanna is partnering lmh, all going after these stars. and it's a new audience. these influencers are big with generation z if the price points are right and the product is right, fine but rihanna is now selling $200 t-shirts, $1,500 jackets that's not her audience. makeup - >> it's aspirational, though to be so rich to own that. but your parents have credit cards or kids' parents have credit cards >> i think this is good because her audience, makeup, amazon, that's a good thing. >> you know who else has credit for this is oddly kylie jenner she came out first on the scene with these kits. we talked about it making he

top brass from apple, amazon, google, facebook, all grilled on the hill we examine the real risks facing the companies and their shareholders >> and solid demand and low interest rates home builders should be ecstatic, right? maybe not. we'll show you what's worrying them about the american housing market as "power lunch" begins right now.

multiple aggregators in streams of video games microsoft has talked about with google and we'll see amazon get into the space as well there's multiple different ways to play it as we move from physical to full game downloads, partway through as of now to eventually streaming. >> manufacturers adderall, people talk about drugs in sports, drugs in e sports, adderall is a big big deal right now. >> absolutely. and these are kids, little kids. so you want to make sure they're very careful, no one's getting any extra edge or advantage. it could get really bad. >> we want to thank you both of you guys michael, russell, thank you. >>> a lot more on the exchange, the faa didn't understand the automated system at the root of that 737 max crash and that's just one of the revelations in a new "new york times" article the author of that piece is going to join us live. taking a swing at boeing on its earnings call. >>> and new presidential debates kicking off tomorrow with health care front and center. taking it on thehi cn. which candidate does big pharma actually want? >>> welcome back to the exchang

amazon a little smaller of a business but it's expected to grow faster because it's not as mature >> julia, what jumped out to you about facebook last night which, again, put up -- just showed the business continues to execute despite all the headwinds it's facing >> facebook growing as revenue faster than expected what i thought was so interesting, kelly, was during the earnings call last night there was a moment where the stock turned around. it had been higher and reversed and went into the red. that's when the cfo warned that they expect revenue to have a pronounced deceleration in the fourth quarter and going into 2020 and he said that's because of uncertainties around ad targeting. i do think facebook is not entirely out of the woods yet, and they don't entirely know how some of these changes in terms of a regulatory standpoint and in terms of consumer behavior around privacy are going to impact their ad business >> which raises the larger question, is their efficacy driven by the very practices that regulators are trying to crack down on? >> it's going to be a huge impact on t

she got her way in denying the great people of new york city 25,000 or so amazon jobs. she got her way getting people to buy into this ridiculous green new deal when put to an actual vote in the senate got zero votes. that's zero votes. you saw those blind polls last week about her from democrats saying she is a joke and has no power. they don't know anything. people are tired of all the star power and no substance. the not so blind quotes from the likes of representative meeks, and william clay. respected long-time serving members and members of the congressional black caucus pushing back at ocasio-cortez just 10 short days ago for saying that nancy pelosi was a racist. she was targeting them because they were women of color. by the way, people are saying oh, president trump wants these four to be the face of the democratic party. you know who else does? those four do. they're loving their time in the spotlight. and i can attack them on policy but they've been here for six months. i can't exactly pull what they said two years ago. they haven't been. i'm always going to

. >> tambiÉn para expresar repudio un grupo de activistas pro-inmigrantes y extrabajadores de amazon llegaron adonde vive jeff bezos, para exigir poner fin a su relaciÓn con ice. >> segÚn activistas amazon web servicios ofrece almacenamientos de datos para ice a travÉs de un contrato con una compaÑÍa de software privada que da soporte privado al servicio de inmigraciÓn y control de aduana. el rechazo a la polÍticas de inmigraciÓn ha tenido otras forma de expresiÓn como en colorado donde la policÍa revisa varios videos para dar con los responsables de poner una bandera mexicana en centro de control de inmigrante operativo por la compaÑÍa... en aurora, tambiÉn utilizaron una bandera de estados unidos al revÉs con grafitis y mensajes "cierren ice" mÁs adelante regresamos con mÁs noticias, ahora vamos con chiquibaby y francisco para dar comienzo a la informaciÓn del mundo del espectÁculo. ♪ ♪ >> gracias felicidad. >> gracias. >> tenemos toda la energÍa de martes oigan. >> seguro que sÍ. >> porque suenan las campanas y la preocupaciÓn despuÉs que la hija de angÉ

que quieres vender de ahÍ comenzÓ abrir el negocio por ejemplo una plataforma en la cual vas solito amazon en su propio idioma y puedes investigar y navegar en la pÁgina a travÉs de la secciÓn de vendedores una vez que te registras la primera es vender y distribuir por tus cuenta, es decir, subes todo lo que quieres vender y segundo la otra opciÓn desde distribuir tu mandas el producto hacia un centro de describo y te apoyamos no solamente dentro de los estados unidos si no a nivel global al mismo tiempo te vamos asesorar a la hora de algÚn consumidor tenga pregunta o quejas de los productos nosotros te apoyamos. >> cosmÉticos en mejores empresas a nivel mundial me inspirÓ, como dijo nuestro experto de amazon tener un concepto de negocio y crear un producto porque vamos a entrar a una competencia pero con algo que es tuyo yo creÓ mill lÍnea maquillaje para la gente latina el quÍmico que necesitamos para estar en altas temperaturas entonces asÍ que anÁlisis te ves muy bien sÉ que rashel tiene preguntas. >> me encantarÍa que david me explicara que estÁ todo muy bien >>> creo q

it is any second for amazon and alphabet. we'll bring you those numbers that may move the markets tomorrow as soon as they cross the tape here. good to be with you. i'm connell mcshane. lauren: i'm lauren simonetti in for melissa francis. this is "after the bell." the

authorities are saying that most recently, she worked at amazon web services and as they look into the allegations that she's the one who single-handedly ripped off all of this information, we will look at the credit card issuers elsewhere and see if there is any kind of possible, you know, halo effect, negative halo effect. not really here. we do have mastercard down three quarters of a percent. amex down half a percent. visa lower by 1%. >>> okay. so as we watch hour by hour, this does matter. now it's 23 hours away. we will finally find out just how much the federal reserve is set to cut rates. notice i didn't say whether. they are going to cut by a quarter point. that is what everybody thinks. one financial firm is already raising its outlook on stocks because it feels that this will be the catalyst for stocks. goldman sachs upping its 2019 year end price target for the s&p by 3% to 3,100. currently, we at the moment for the s&p are at 3,013 so we are really not too far off. goldman also set a 3,400 price target for the s&p for the end of 2020. that's another 10% rise from current

top executives from google, amazon, apple and facebook are about to testify. it's one of at least -- it's been a crazy, crazy week already. four hearings scheduled on the hill this week involving big tech. are we at a tipping point for the stocks? a house judiciary aide telling hillary vaughn today's hearing was decidedly not part of an effort to start a critical investigation into any of these tech companies. but the aide did blame a lack of bipartisan consensus, not a lack of desire, to do it. hillary has been following all the developments, reporting the story from on the ground in capitol hill. what is your sense that the mood there, as this is about to begin, do big tech companies think that it's the start of a critical investigation or more hammering on their businesses? reporter: certainly they have to make that case, that they do not pose a threat to competition and that they need to defend their dominance in front of lawmakers on the house judiciary committee antitrust panel today. but we did get a quote from ranking member doug collins, who does say

powering the gains today are robust earnings from tech titan alphabet owner google and titanner but amazon is the one tech giant that is lagging today and we'll discuss more later on in the program with our all-star tech panel so let's check stocks for the week. the nasdac winning the race as you see it there, followed up by the s&p 500 and investors, well speaking of earnings, devouring mcdonald's today pushing the stock up to a new record high. the fast food giants reported a same-store sales number that beat for its recent quarter by checking more diners with upgraded stores and new promotions as well and also hitting a record high today, starbucks, yes, the stock getting a caffeine buzz as the third quarter results beat in the biggest same-store sales growth in three years. the food and beverage chain also raising its fiscal 2019 profit forecast, as an employee anded lineup of offerings boost the gains of foot traffic in the u.s. and also in china. but let's get to t-mobile and sprint both stocks hitting new highs on the news, finally, the doj, the department of justice, has approved t

amazon just became one of president trump's targets moments ago. he took aim at america's biggest online shopping company. the stock is down about three quarters of a percent right now. when he was sitting there with the prime minister of the netherlands, the president targeted amazon's bid for cloud contract with the pentagon, saying it wasn't a competitive bid and that other companies like microsoft and oracle are complaining about it. he says quote, he's taking a strong look at it but no mention of the stalled trade talks with china or the slowing global economy. those issues remain among the top reasons for the federal reserve's recent dovishness. should they or shouldn't they cut rates two weeks from today and by how much? federal reserve vice chair richard clarida is here in a fox business exclusive. we will ask him all the important questions that could definitely move the markets. >>> plus, senator bernie sanders rolls out his $40 trillion plan to fix health care but senator lamar alexander, the republican chairman of senate health committe

as i said, amazon up $8.40 to $2,019. amazon not set to report earnings until later next week. can't wait to see that. let's get to citigroup. citigroup kicked off the big bank names, second quarter earnings season this morning before the bell. the bank reported better than expected earnings and revenue for last quarter. now, you can see the stock is responding at the moment positively, up higher, but there was some concern that the fact that it might have a little trouble with some of the margins and trading business might ding other banks. speaking of other banks, 25 other financial institutio, jpmorgan chase, goldman sachs, wells fargo, all set to report this week along with tech names like ibm, microsoft, and netflix. we're going to be sweating it out here on "the claman countdown" but 56 s&p 500 names are set to report this week. 80 s&p companies overall have warned, though, that their second quarter financial results will be weaker than initially expected. this is hitting companies from alphabet google and apple to pfizer and adobe, micron and netflix also on the list. wi

the second one would be amazon. the reason is that if you look at the other fang stocks, google and facebook are going to have regulatory overhang here and then you have netflix which is a whole separate issue around competition. so i would put a distant second at amazon. liz: amazon, distant second. gene, great to see you. thank you so much. >> thank you, liz. liz: gene munster. what's the next musk moonshot? we have a major hint for you. closing bell ringing in 36 minutes. the eccentric billionaire elon musk rolling out his plan to connect your brain to something he calls neweurolink? what is that? find out next on "the claman countdown." >> if someone has broken their neck, broken their spine, we can solve that with a chip. this is something that i think most people don't quite understand yet. 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. you need decision tech. my body is truly powerful.

i know longer own amazon. liz: no longer own amazon you sold those shares we'll get to why but first to pace book. tell me what you thought of this fine. $5 billion. you know, it was interesting to see when you have to come out and announce it the gentleman who was in charge said that the $5 billion fine equals 9% of revenue. now facebook is about 50 billion in revenue. was that enough? i heard people say it was a slap on the wrist and others say well that'll cause a mark. >> yeah i'm in the camp of the latter that it causes a mark. 9% of revenues for most people is the difference between growth for the year and no growth. obviously facebook has had robust growth, but trust me, it got their attention, but i wouldn't be surprised if there is one, it is much much bigger. liz: did it serve as an important deterrent in any way, shape, or form? >> i think it did. i think it is one of the biggest fines ever given despite the fact they do have 50 billion of revenue and the fact that mark zuckerberg is personally acco

amazon. the stock jumping 18.5% right now in the final hour. amazon, better by a quarter of a percent, standing at -- guys, we are $10 away from $2,000 a share for amazon. we stand at $1990, a single share. the new program is called turnkey. it will direct home buyers searching for an agent on amazon straight to realogy. i'm thinking eyeballs on ads, then they will get up to $5,000 of smart home devices and free home setup services from the online retail giant. there is some fine print in all of this but realogy, while down 77% over the past year, is trying to catch a bid here after shrinking residential brokerage margins and slowdown in housing market. that of course has hurt the stock. >>> investors are switching off netflix, not by much, just a percent, but the streaming giant is on track for its longest losing streak in five years. what are we talking about? nine days of losses in a row. the company's quarterly subscriber figures did fall short of analyst targets last week when they repor

>> i think this week we have to watch amazon. i know it doesn't come out until thursday and it comes out after facebook, which you also have to watch, but remember last week the bulls twisted an ankle a little with netflix when they missed? it took a little of the power out of tech. if amazon doesn't come in strong, if the guidance isn't great, that stock doesn't respond well, i would have to think tech loses a bit of its luster but if they actually come through, i think we can get back above 3,000 in the s&p and some momentum could cam back because we have been lacking momentum the past few weeks. liz: facebook is up just about 2% on that news about the settlement. amazon is up 1%. luke, give me your names that you watch. you being down at the nymex and in the oil space, you have a different perspective. >> yeah, well, just on the tech names, you are absolutely right. google, amazon and facebook. that's going to be really important. amazon is going to be important because they are going to tell you how people are shopping. you g

we have to ask ourselves, what does it look like if amazon was to pay the highest tax rate of the couountry, 37%? they would be payaying $4 billin a year in taxes. if all of those fortune 500 corporations did the same, not exporting tax loopholes that allow them to move money offshore and get credit for it -- what would it look like in terms of the money we bring in? senator warren talks a lot about her wealth taxes in important s because it fuels important programs like medicare for all. mhe idea that this is zero su and all of a sudden there health care will be taken away, these are unfortunately republican talking points. i ran on a single-payer plan for michigan. what we found is that when you take away those deductibles, those copayments, those out-of-pocket costs from the everyday family, the average family of four earning $48,000 a $5,000 off the top. if you do not have to pay these costs and instead you are paying a tax, you save money because the whole system becomes more efficient. when you take corporate inputs because they have to pay their fair share, it more than makes up f fo

go to amazon, buy a spine and do it. but if they're not going to do it, then they need to accept the fact that donald trump is president of the united states and they need to let him go about doing his job. >> let me go to the congresswoman again. when do you have to begin this process formally of looking at impeachment if you're going to do it this congress? >> well, i think you need to do it sooner rather than later, because the closer you get to the election, the more it's just going look political. but i think you need to do it. you can't have it both ways. you know, the power to investigate and oversight is not in the constitution. that's an assumed power. and over time, the court has broadened it and narrowed it. but the power to impeach is in the constitution, and that gives us more authority i believe to subpoena people, to get information, to really turn the dial. >> michelle, do you think they're going to impeach trump? >> at some point i think they will. >> this congress? is disagree. i don't think they will.

amazon is not far behind. thanks very much. more to come in a moment. qualcomm offers a downbeat sales forecast. details next. this is bloomberg. ♪ >> trade talks will resume in september after meetings in shanghai ended with no progress. the two sides discussed purchases of u.s. farm produce, ip rights and nontariff barriers. the white house said the talks were constructive and washington will host the next round. the people's daily newspaper rejected president trump's description of ripoff china. president trump tweeted that sharon powell has let the country down. he posted after the fed lowered by one quarter-point despite the president demanding a bigger cut. reduction is the first in more than a decade. there were two dissenters on the board. out against making any cuts. >> is intended to ensure against to help offset the effects these factors are having on the economy and to promote faster return of inflation on our 2% objective. >> a survey says u.s. hiring accelerated in july for a second month, undermining a strong job market that is driving

there's also the argument that one of the reasons why amazon may have come to northern virginia is because there are more educated people in northern virginia. there is a question of is it the chicken or the egg situation. is the economic development falling the talent or is the talent following the development? i don't think they have to be mutually exclusive. i think that you can both have an economic development and also invest in education to kind of build work together. if you look at arizona state, one of the things that they do is partner with industries and develop programs that tie some of those skills that companies will need to the curriculum. so i think that there still is a lot of work to be done in terms of economic development in rural areas, but there is a lot of work to be done in terms of college attainment in rural areas. >> one of the things we have not talked about in this conversation is the role of private, for-profit universities. are we seeing those kinds of schools try to fill in the gaps between the private university, the public university? do we see those for-p

my theory is these analysts are the same gang that covers the stocks, facebook, amazon, netflix. apple is the slowest grower by far. if they grow at a 1 % clip, that's a disappointment. for the revenue stream, that's a loss my solution, you need to view every hardware sale as like a one-time game. hardware is cyclic l but the subscription business is like a cable company. follow with the tech analyst think about a cable company hits you up for more money every month. they have a 99% satisfaction rate they do no favors but saying there are 420 million paid subscriptions. we don't want that how many subscribers, not subscriptions. we need that we need to build models. what's the churn you can find out the lifetime value of the subinstructioscrip. i know this business here is the issue, a tech analyst who covers hardware or software companies won't understand any of this they might not recognize the lifetime value of a credit card holder you can do the streaming, let's say bang k of america if you have 1.4 million people owning it and you know the rate and churn, you can see the pri

asked the governor how he planned to bring amazon and others to the state. income tax and a very low business taxes. we have a tax structure that is randomly to businesses. soundly managed. companies know that so they sort i look athan incentive packages that states have to offer. we certainly deal with companies in that way. we incentivize companies to come there. they look at workforce development and we have done a lot in our state to create workers for companies that are coming there. particularly tech companies and technology-based companies. our administration has done something called a future workforce initiative that is establishing the kinds of education curriculum and pathways that will create the workers for the future. a presence has there. what in the future do you think you can offer tech companies? you are obviously making the case here in san francisco this week to put a bet on tennessee. >> the biggest thing we can do is show to them our commitment for workforce. jobs requirelated a workforce of the future. they require an education system

will see what happens with apple but it seems to be setting up for the same thing with facebook and amazon. i don't know maybe the market has finally gotten too far ahead of itself so maybe we're in for the 5% pull back tony has been talking about. >> are things different from what we thought powell would say? i mean 25 basis points, ending the balance sheet run-off earlier by two months, and then sort of -- you know what's next. >> we're going to grade the fed president later on in the show that will be a lot of fun. as guy is critical of the president's statements, i am as well i have to say though, i think he's right i think the market was expecting a much more aggressive fed and the market is only going on what the fed had guided them to i think we got to a place where the fed a's pivot for most of 21 is we're no longer in that immediate. three or mowre cuts in 2019 is something firmly on the fed's shoulders. the dow is no longer under control of the fed, and maybe it is not supposed to be once again, but central bank differentials are clearly a catalyst and a driver for dollar and dol

amazon, microsoft, samsung. facebook didn't disclose that to the use ers, did it? >> senator, my understanding, and, again, it was not my responsibility or my team, is that this was designed to enable those phone manufacturers to build integration within the facebook product to serve those consumers using these devices. >> okay. your algorithms are such that if i watch a video on a topic, i'm immediately shown videos on more extreme versions of that topic. we call that stickiness. is that correct? >> this is not the way the facebook platform operate today, senator. >> but it did for a long time, right? >> senator, mark really led through -- >> can we agree on this, facebook has now become the major news source for many, many people, probably the major news source. is that true? >> i don't believe it is, senator. i believe that more and more people are interacting with other people -- >> 60% of your users say they get their news off facebook as their primary source. isn't it true, i really want your opinion, that facebook has chosen to advance a set of values in whi

charles: in an amazon world where everything is cheap, everything gets lower and lower, maybe we're in a situation where the focus is not on what we were focused on when ronald reagan came into office? >> i think we would at least try to remember some things. if this is an environment which you have to cut rates when we just saw in some revised wage number that were out yesterday, all of you were reporting on it, 5% clip in 2018. 4.7% revised in 2017. wages and salaries taken together running at a 5 1/2% clip in june. the savings rate at 8.1%. i'm just saying i'm looking at all this and i'm saying, if that is an economy in need after little goosing on the part of the federal reserve, man, that is not the economy that i remember in the past that would require it. charles: maria, what powell is saying what he has said he wants to preserve those numbers neil is talking about. why be the fireman, why let this thing fall apart to try to put it back together if they can take steps, a, lou, to compete in the global economy against other central banks? and b, keep the prosperity going? on janu

there is also the argument that one of the reasons why amazon may have come to virginia is because there are more educated people there. of thes a question chicken or big situation. is talent following the development? i don't think they have to be mutually exclusive. economicou can have development and also invest in education. if you are looking at arizona state, they partner with industries in order to develop programs that tie some of those skills companies will need to the curriculum. there is still a lot of work to be done in terms of economic development in rural areas. there is a lot of work to be done in terms of college attainment. host: one of the things we haven't talked about is the role of private for-profit universities. do we see those schools trying to fill in these gaps between the private university and the public university? gapthey slipping in that where people want the education? decade, youthe last did see an explosion of the for-profit sector in rural areas. you see the constriction of those. itt tech closed. most recently, another school closed. i spoke to some s

. ♪ >> it's just for the benefit of amazon. "the washington post" is for canoes. they actually said that, that mitch mcconnell is an asset of russia? they ought to be ashamed of themselves and not to apologize. >> harris: president trump there yesterday after "washington post" ran an op-ed calling senator mcconnell a "russian asset" for blocking election security bills. mcconnell is also pushing back against critics calling him a victim of "modern-day mccarthyism." the senate majority leader argues congress and the trump administration are already doing enough, and the bills are democrats putting politics. but one senator and presidential candidate says mcconnell is doing just that. >> totally aligned with the president. the president, i think, once chaos of the election. stop those bills in their tracks. he's doing it, and that's why he's doing it. because it protects their party. i think it's not patriotism. i think it's pure partisanship. >> harris: steve? >> steve: that's nonsense. mitch mcconnell's not trying to help the russians metal in in the 2020 election

it's oil, nat gas, amazon, right, cheaper products, you know, robots. so there's a lot of forces in the u.s. economy and we know that the trade fight is tamping down business investment. i don't see weakening the dollar improving business investment. i think the fear is that you raise rates, to dagen's point, you will have more long-term capital management. neil: it will continue the froth. >> i think you're right. >> that trade fight probably has a lot to do with what will be happening today and what will continue to happen. all the indications we have from the talks in shanghai is everybody expected, is we are really going nowhere fast. i don't think anybody expects us to be going anywhere fast. neil: the longer this is unresolved, the more rates would probably come down. >> but i think there's motivation on both sides. everybody keeps talking about how china's trying to put this off until after the election. i have been seeing, i keep getting indications from the president himself in his tweets and comments that he's maybe motivated to do the same, t

in pink is apple, and orange amazon, and white soft. last year apple was in the $1 trillion market cap club all by itself. right now trying to get back up there and join microsoft. it will be interesting to see whether investors bid up the shares as the summer goes on. vonnie: abigail, thank you for that. the u.s. and china wrapped up a new round of trade talks in shanghai. the white house called the session projective -- the session productive. still with us, stephen blitz, ts lombard chief u.s. economist. how are you modeling it into your forecasts? steven: basically, we think there's obviously a lot of politics involved in this. there's a lot of midwestern farmers getting hurt by what's going on. i think it becomes kind of like an arms troops. i don't -- arms truce. i don't think they could possibly get to a full agreement. i think they recognize that. i always thought they would just do agreements in steps. let's agree on what we agree on, but we can't agree on, negotiate that, and have the existential threat of tariffs weighing on

a hacker is a former employee of amazon cloud computing division. she faces five years in prison and a fine. >> it's not as if this is a sophisticated person because she gave herself away on line. i think we need to see more security for companies that mishandle your information. >> you can temporarily unfreeze your credit to get a car or buy a home. they believe it's unlikely the information was used for fraud or disseminated to individuals. >>> delta airlines making a bigger effort to communicate with travelers who are death or hard of hearing. flight attendants will now make wear name tags to show they are able to speak with sign language. today we will get the announcement on interest rates, investors, traders and economists will also wait to hear any comments in any indications that they will continue to lower rates throughout the year, holding stable. what they say in the meeting is what is driving the cut and it will be very important. >>> the alameda county das office received a report about last month's infant -- incident . >>> at the toron

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she used to work for amazon web services. a tipster eventually contacted capital one, said you know there's someone on the internet right now that's bragging they have done this. turned it over to the fbi. the fbi was able to very quickly find the suspect's address. boom. there you have it. she's now facing charges of computer fraud and abuse and could spend five years in prison. stuart: i don't think the security of the cloud is at stake here. ashley: no. stuart: what's at stake is your employees. ashley: yes. stuart: if you've got one disgruntled employee who is doing this for whatever reason, look at the damage. 106 million people. susan: they put a number to it already, capital one says it will cost $100 million to $150 million in terms of cost. compare that to equifax, over $500 million. much broader, by the way, number of customers impacted there. stuart: okay. >> 200 years ago -- they took down one employee took down a 200-year-old bank. stuart: how do you find the bad apple before you put them to work? the ten-year tr