Movers & Shakers: August 2, 2019

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Trump: We’ve taken the toughest ever action to stand up to China’s trade abuse

President Trump talks about his new China tariff during a rally in Cincinnati, Ohio.

Trump sucker punches China...again: China is viewed as a menace to the United States and President Trump made it clear he does not intend to lose the trade war. Hours after his decision to implement 10 percent tariffs on an additional $300 billion worth of goods coming into the U.S. from China he fired another warning shot. “Until such time as there is a deal, we will be taxing the hell out of China,” Trump said during a campaign rally in Cincinnati on Thursday.

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Jobs, Jobs, Jobs:  The July jobs report showed employers added 164K workers, less than the revised 193K added in June. Still, the unemployment rate held steady at 3.7 percent, a 50 year low according to the Bureau of Labor Statistics. Wage growth, year-over-year, ticked slightly higher up 3.2 percent. Top White House economic advisor Larry Kudlow will discuss the report and the overall economy on FOX Business' "Varney & Co" today.

U.S. stocks whipsawed: U.S. stock futures are modestly lower following a wild ride on Thursday in which the Dow dove over 500 points before ending the session with a 280 point loss. The latest in the U.S.-China trade war overshadowed the Federal Reserve's first rate cut in a decade announced earlier this week. Shares of oil giant Exxon Mobil rose on Friday after a positive profit report, ditto for smaller rival Chevron.

Peter Thiel takes on Google for a second time: "Good for Google, Bad for America" that's how billionaire investor Peter Thiel views the search giant. His Op-Ed in the New York Times is the latest slam against the tech company. Thiel has been a vocal critic of Google's work in China. Earlier this month, in a Fox News exclusive, Thiel elaborated on his comments that Google being “treasonous” for working with China's military and not the U.S. Department of Defense. Google maintains it does not work with the Chinese military.

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Touchdown! The NFL is back on the field: Pre-season games are in full swing. The annual Hall of Fame Game in Canton, Ohio last night had all players and coaches from the Chicago Bears and Baltimore Ravens standing during the national anthem. Over the weekend New England Patriots legend Ty Law, who pulled in around $60 million while serving as a key member of a Patriots team that won three Super Bowls during the early 2000s, will be formally inducted into the Pro Football Hall of Fame on Saturday, Aug. 3. FOX Business sat down with Law, now an entrepreneur, to discuss life after the NFL and how he ensured his financial security.

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