but today is amazon prime day. tomorrow will be amazon prime day as well, and there are these protests all across the country. legitimate at this point? or is amazon just being targeted here? >> it's both, right? not one of these things that has to be one or the other. certainly there's an opportunity for employees who have been denied reasons who have legitimate complaints about their working conditions, who have legitimate complaints about the waps treats employees to say all eyes on amazon right now and we'll take this opportunity to stage job protests and make our voices heard but as i wrote about last week, in the axios market newsletter, you're seeing this pushback to the minimum wage hikes all over the place. walmart employees, target employees when they got minimum wage increases they said this is nice but not enough. we haven't gotten a raise in 10, 15, 20 years and now you want to give us an extra dollar more while we see booming profits coming from the company we deserve a bit more so i think you'll see

amazon, everyone points to amazon as the bold case for netflix. neil: but netflix isn't building a structure as much a lot of stuff to for people to watch. it is very different than amazon building you know a infrastructure that would support all of this. >> amazon is leveraged? >> i don't know that. >> i don't think so. >> they have been, amazon can make a lot of money if they want to. >> right. anytime, turn on the switch. >> problem with netflix they have off-balance sheet long term obligations. this company, you you 2011, 2012 like a ferrari. reed hastings is genius. they got the company moving quickly. today they don't have the luxury. they have committed to content. neil: are they raising prices? >> they are trying to. it is tough. the bull case from here, that unit adoption where it is, that we will continue to raise prices aggressively. our work suggests, once you get over $10 a share, $10 a month for streaming service, when price sensitivity, consumer kicked. this quarter we -- >> i can't figure it out. i can't find anything. >> there is

a trillion dollars for amazon. we'll be right back. ♪ connell: there is all kinds of things going out, going on in sun valley. big tech executives not at white house. they're out there today. secretary of state showing up. bigger than all of that, charlie gasparino who is still there. here he comes flying in for us. charlie, talk about your scoop or scoops. can you look up, please, charlie, if you're on the air. >> i'm sorry. i'm sorry. connell: i thought you didn't like me. >> i got my cue. connell: t-mobile, sprint, i was going to get into, your scoop or scoops, start from that, move from there. what are you hearing? >> here is what we got. reason i'm looking down, here is what i have my notes. this is what we've been reporting, i can't tell you this thing will definitely happen tomorrow the next day. what i said earlier in the week, i said two things, number one, likely tuesday or wednesday. that is how the deal talks were progressing, that doj would get comfortable with the structure of deal, sale of spectrum

amazon, alphabet set to report after the bell. the trend has been the friend of the earning are looking pretty good as charles payne. charles: intel that was one of the big names. nobody talked about it. they report after the bell. who cares. neil: i'm sure you do. charles: but i'm weird like that. good afternoon, everyone, i'm charles payne. this is "making money." the stocks are lower as investors wait two powerhouses, amazon and alphabet/google. buying stocks after everybody writes off the company. i can tell you how when we go in depth. most americans in decades review the economy postively. they are giving p

i don't think it impacts amazon's business model one iota. it is no different from a market manager in heidelberg or recommending the bourse at christmas. they don't know retailers than any other. the question is whether or not the internet is involved. neil: target of various government probes is that a high point you say slow down or what? >> not for me. i'll tell you why. because most of the antitrust regulation, the concerns over business practices, those were levied at a time where the consumer was being hurt. arguably it is not the consumer that's being hurt. prices have gone down. delivery times have gone down. so the benefit is very, very real. if they go after them on something like that, they have to change structure of the laws. that won't stop them from trying to grab headlines. neil: keith, thank you very much. good catching up. >> thanks, neil. neil: there are numbers. there is emotional testimony behind those numbers, from families of boeing 727 max victims today. fbn's kristina partsinevelos with the very latest. reporter: nei

amazon, apple, certainly google. the ones would likely be the target of government wrath, they are down, not a lot, they're down. but you know nasdaq 100, technology index and nasdaq rich the technology names that is flirting in and out of record territory. it is not having the effect a lot of people thought, but what do you make of that? >> not yet, but i mean, you and i forgot we've been talking about this for a while. we're finally here. i have to believe the folks who cover these companies, whether they're analysts or investors, we knew this day was coming. i think what was interesting about the announcement from the justice department, neil, is that, this investigation is, i mean it is pretty broad. this goes back to bill barr's comments he made during his confirmation hearings where, you know, he said straight out. he thought it was high time that the justice department took a look into the entire tech industry and, with the lens of, have some of these companies gotten too big? and whether or not they're engagi

we got a statement from amazon. it says amazon web services was not compromised in any way and as they put it functioned as designed. for capital one this lawsuit could be the beginning of its troubles. the company estimates that the breach could cost them up to $150 million. neil. neil: grady, thanks. a new probe of parents using a legal loophole to get college financial aid for their kids. jackie deangelis has more. >> nice to see you, neil. outrage over a new college admissions tactic concerning financial aid. "wall street journal" is reporting that the education department is investigating a loophole where wealthy parents transferred guardianship of their child to qualify for scholarship of their grants. through the transfer, only college bound earnings, their earnings savings are considered. still legal, no, but it reads as a whole lot of ethical questions. some college consultants are advertising they're able to save families money without specifically saying what that methodology is in the marketing materials

neil: amazon, get your thoughts. alexa hears more than we know and hangs on to it longer than we thought. >> this was reported in -- it was in response to a letter from delaware senator chris coons who wrote to amazon, saying how long do you keep these recordings? as you know there was a bloomberg story they do record what you say. neil: right, right. >> surroundings, to better improve the service. looks like chris coons got a response. he says the american people deserve to understand how their personal data is used by tech companies. i will work with both consumers and companies to identify how to best protect american's personal information. you may not like the amazon's response. they don't delete it. you have to do it yourself. they keep it forever. neil: to what end? >> to what end? to improve services, detect voice pattern recognition better. it is up to you to protect your own privacy. for my part i have never owned an alexa speaker because of this. no one needs to know what i'm doing at home. neil: they cree

connell: or alexa with amazon, right. >> there are minutes long recordings have also come through. it will always be a rick. more connected devices in your home the always a possibility that this will come out. connell: we care about this generally speaking in the united states. >> sure. connell: i find it interesting as the technology eye involves, we'll talk about 5g in a second, rest of the world depends where you go. other places don't have as much concern, saying with china it is not really up to them. the government decides. they're collecting all the data. how does that affect the race for technology, will we fall behind because of our cone concerns about privacy? >> i think china is more bullish and more cavalier about pushing this technology because again the privacy concerns are not there. i think it makes sense for us to be who are hesitant and more thoughtful about it. again privacy is such a huge part of our country and our government. it is in the constitution. we better get it right. connell: it is just interesting, it is not, again not up to them, not a concern. >>

amazon. >> i'm getting tremendous complaints about the contract with the pentagon and with amazon. they're saying it was not competitively bid. this is going on a long time, probably before this administration. we're looking at it very seriously. one of the biggest contracts ever given, having to do with the cloud, a lot of other things. we're getting tremendous really complaints about other companies and from great companies, some of the greatest companies in the world are complaining about it, having to do with amazon and the department of defense. i will ask them to look very closely what is going on. i have had not such few things where there is complaining, not only complaining from the media, asking questions about it from the media, complaining from different companies like microsoft, oracle, ibm. great companies that are complaining about it. we'll take a look at it. we'll take a strong look at it. thank you very much, everybody. >> thank you, press. right this way. thank you, press.

. >> yep. >> amazon also. lot of people want us to take action. reporter: the president wouldn't say if the doj will get involved, but trump does say that twitter makes it difficult for people to find and follow his tweets. he thinks they are using their political bias to suppress his followers and that companies like google and facebook are against him and using their platforms to fight back. i reached out to all three companies, but they're not commenting on the president's remarks. neil? neil: thank you very much. meantime, "wall street journal" reporting that youtube and facebook overrun with false claims about cancer treatments. susan li has more on that. susan: we call medical snake oil in the social media age. "wall street journal" did this extensive piece taking a look at a lot of misinformation, scientifically dubious cancer treatments, alternative cancer treatments that could be harmful to patients who are looking for hope, right. hope that isn't necessarily there. so the "wall street journal" says t

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

now we are in the middle of a two-day amazon prime sale. obviously the consumer is undeterred by these worries. what do you make of that? >> it's pretty amazing. so resilient. a lot of the reason is we are a more isolated economy than most countries. we trade, texas trades with new york and california trades with pennsylvania. we do far more of that, less dependent on imports and exports. they're important to us, but not as important. they are for the u.s. consumer am i working, does my neighbor have a job, i'm finally getting a raise, i think i will spend some money. that's why consumer strength continues to spike the manufacturing and trade issues. they're not horrible problems. they're just slowing. neil: the president said a couple of weeks ago that if he were replaced or if he were voted out of office, you could anticipate a market crash, saying that the principles he put in place have really gotten us to these hyper levels. as you indicated, they're not necessarily hyper as much as a little generous. what do you think of that? the ele

it is likely to be google, amazon, you name it, apple, places with the money looking for content but they're looking for the price to go down. what i'm hearing here from sun valley until i get thrown out, neil. back to you. neil: i live for those moments, charlie. be safe. >> [laughter] neil: you are in a beautiful locale. charlie gasparino there. talk of minimum wage could go up and soon on a federal level but that could put a lot of people out of work in the process. we'll explain how that works after this. this is about thing, you know, make america, you know his hat? make america white again. they want to make sure people, certain people are counted. it is really disgraceful. neil: everything is racist, right? speaker nancy pelosi, slamming the president over the census, suspecting that maybe what he is really up to is white only america that doesn't keep accurate count of minorities, but the fact is, that when it comes to census questions, a lot of countries, western powers all, ask this very question, including australia, canada, france, indonesia. there is also ireland, german

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

on thursday, very familiar names, amazon, alphabet, intel. we're expecting intel to drop in terms of profit but revenue climbing a little bit higher. on your screen you're seeing key economic data we're expecting this week. new home sales, a lot of economists will look to see if the housing market is stablizing. thursday, durable goods. those are goods you don't purchase as frequently, every few years or so. last but not least on friday gdp for the second quarter. first quarter we saw gdp come in at 3.1%. we're expecting something similar. i want to end on this. there is always fear what is going to happen with the fed and whether there will be a rate cut on july 31st. if we look at the futures market they're pricing in a probability of 76% right now which i like to highlight. this is 76% chance of a quarter point. that is lower than last week which was a little higher. back to you, neil. neil: kristina, thank you very much. no talk of a half-point cut in rates. thematica research expert on all of this join us, lenore hawkins. lenore, if the

amazon is back well above $2,000 per share. 2017 to be precise. that's it for me. time is up. neil, it is yours. neil: stuart, thank you very, very much. all eyes on the federal reserve as jerome powell continues his testimony before the house financial services committee. a lot of people are talking today. the president is tweeting the we'll hear from the labor secretary of united states, alex acosta, in his role in the early epstein cases but probably the most consequential development of all the bigwigs yapping today, would be the federal reserve chairman. he sets interest rates. some say he is the lasted a adult standing in the financial community. that is a matter of opinion but we're going to be living on this, staying on this, what he has been saying. we have cut away here. i wanted to let you know has talked about the tax cuts have to be measured longer term on their impact, not just the near term. he talked about a weakening economy, headwinds developing enough to trigger optimism in the financial community that he is going to cut rates at the end of this month. maybe