Hi, I'm Dan Premack and welcome to Axios Recap, sponsored by What It Takes.

Today is Wednesday, July 29th.

Stocks are up, the odds of getting another federal stimulus are down, and we're focused on today's

big tech hearing on Capitol Hill.

Earlier today, the CEOs of Apple, Amazon, Facebook, and Google testified, remotely in front of a House Judiciary Subcommittee, ostensibly about antitrust issues.

It was the highest profile showdown to date in the increasingly fraught relationship between

Washington, D.C. and Silicon Valley,

which at some point could culminate in efforts to break up one or more of these companies.

Three things to know. First, Democrats mostly ask questions about alleged anti-competitive behavior.

Republicans mostly asked questions about alleged anti-conservative

bias. Both could play into antitrust complaints. Two, most of the questions were for Amazon,

Facebook, and Google. Jeff Bezos, Scott hammered on Amazon's marketplace dominance. Mark Zuckerberg

was questioned on his company's purchase of Instagram and content moderation.

Google was asked repeatedly about search prioritization.

Apple's Tim Cook, who was there for the whole hearing?

He was questioned a bit on the app store, but otherwise largely ignored.

Three, this House committee alone can't sue a big tech company for antitrust violations or change

century-old antitrust laws.

A lawsuit would have to be done by something like the Department of Justice, while the latter

has to be done by the entire Congress and signed by the president.

The big question now is if this hearing uncovered anything that moves the ball on changing antitrust law as it pertains to big tech, or if in the end it just made for a few good viral video clips.

We'll try to answer that in 15 seconds with Congressman David Cicillini of Rhode Island who ran today's hearing.

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