tv Varney Company FOX Business January 18, 2016 9:00am-12:01pm EST
morning. "varney & company" is next. aba program plan ahead. ashley: stuart is off all week. here are the big stories. testing the 28th dollar level. we are on the watch for new 12 year lows on crude. iran frees five prisoners. president obama says the world is safer as a result. colonel ralph peters is here in t disagrees. the gloves came off. firing over wall street. a new york value. it was so close. nearly a perfect landing for elon musk. "varney & company" is about to
>> it certainly is enough to keep pressure on the market. it does not really need it. iran is intent on doing that. certainly, probably, another three-six months. the big question is, how low do we go? we could go down to $20 a barrel. but geez think? where is the bottom on all of this? >> the official announcement that the iaea has officially endorsed. you may expect a little more of downward drescher. considering, the actuality of the event now. >> saudi arabia. they have kept up their output.
trying to put the squeeze on. the u.s. shale guys. is that working? >> in some senses, we see some of these shutdowns in the u.s. is that working? >> it appears to be. it has taken oil supply off of the market. for the last five weeks, we have seen a lot. about 9.2. it is taking some off. not really enough. we very easily could see a number down around 20. u.s. inventories continuing to increase like they have the last couple of weeks. ashley: when does the oil market rebalance itself?
>> i think that six months would be very optimistic. it will be until later 16 and maybe even into 17. they can actually deliver on an extra half million dollars a day. >> let's talk about the price of gas. the national average is $1.89. that is just amazing. jeff. >> i do not know which is lower. the temperature or gas prices this morning. there is the number. $0.30 cheaper than the national average. that is nothing compared to what it is like in neighboring michigan. yesterday, they got into a price war. they got as low as $0.47.
i just talked to the lady behind me. the cash register there. they are now out of fuel. they have to hold out after huge lines yesterday. they are expecting delivery in about an hour. the competitors in town got as low as $0.95. it is pretty much the going rate. it is crazy out there. >> jeff, i would imagine the motorists are pretty happy right now. >> no question about it. i do not know what they are spending it on. maybe powerball. jeff flock. thank you so much. $1.89.
they can beat that price. the fox news reporting that a group of americans that disappeared in baghdad over the weekend were kidnapped. what is going on? >> they were original iraq use. they became u.s. citizens. kidnapped in a neighborhood in baghdad overnight. this is a spokesperson. working in full cooperation with authorities to locate the missing americans. originally born in her back. became citizens and are now back. the nine we do not know who they are. perhaps reports, i don't know if they have been confirmed. exactly what these things are
doing. ashley: adam, thank you very much. meanwhile, spacex. trying to land a rocket on a floating bridge. >> germanic video. the rocket came close. there it is. it will crash land. there was an issue with the leg that was possibly caused by the ice buildup. the "wall street journal" is reporting that uber is teaming up with airbus. the chopper service this week out in utah. no word yet on the cause.
the journal says airbus is working to find new customers. they have cut back on using their helicopters. meeting tom brady again this weekend. squaring off 16 times before brady has one of 11 of those meetings. they are to into. >> all right. we appreciate that. the markets closed today in honor of martin luther king. this very special day. let's just start with the big picture. seems to be on fire. >> i think you have the anniversary. however, my uncle always had a
very steady answer. working and preachers in the 20th century. always encourage us to look back to the spirit of god and to be guided by that. we must learn to live together as brothers. sometimes it gives us up evil. maybe we need to step back and begin to communicate. the hostages and then terrorists, everything. to use our words to heal. ashley: what advice do you think he would have given to groups such as black lives matter? what would he say to them? >> he would absolutely agree that black lives matter because all lives matter.
john 316 god so loved the world. let's find solutions here. they would encourage communication. leaving to reconciliation at the end of the process. ashley: president obama invoked your name on gun control. >> and honor at his state of the union address. people who die by senseless gun violence. the local board of ed. there are really many ways to be violent. we want to encourage people to communicate and bring peace, nonviolence. i think my uncle would encourage him to do that as well.
>> i really appreciate it. >> iran releasing five americans winners. guess what, the world is a safer place. ♪ >> this is a good thing. what is possible with strong american diplomacy. iran will not get its hands on a nuclear bomb. they will be more secure. ♪ marco rubio thinks it's unfair to criticize him for missing votes. "but i am going to miss votes, i'm running for president." but he's been missing votes for a long time. "one third of all
of his missed votes in 2015 were missed before he announced he was running for president."
debate. martin o'malley actually gaining 11% share. >> the former governor of maryland. back and forth about wall street. listen to this. >> here is the issue. you really were a form wall street. >> when they are spending millions and millions of dollars on campaign contributions. when they are providing speaker views to individuals. receiving huge amounts of money from wall street. wall street was the most talked about topic on facebook as well. ashley: sanders got more out of
this than hillary clinton? a lot of young people are on social media. almost 20 years ago. what sandra is now criticizing. >> it seems that senator sanders, what he is trying to do is play that card. of course, playing to a lot of people on social media. they have been on saturday nights or sunday night of a holiday weekend. i think it is so interesting. these are the people actually
watching. >> hillary clinton. >> a little bit. you can argue it is a little bit of a margin of error as well. ashley: senator ted cruz for the sizing. take a listen. >> the only reason they were seized is because of the weakness of barack obama. the foreign-policy leading from behind. our enemies are laughing at us. days after seizing and parading them on television to humiliate them. propaganda. ashley: ralph peters is here. president obama says that this is a win for diplomacy. the world is now a safer place.
>> is iraq safer? is he a man safer? saudi arabia? libya? questions and sunnis. do they feel safer? israel slightly for a limited time. the irony, the true irony of this deal is that it is paralyzing our foreign-policy. many of the aggressions, as a result of which, iran will be able to achieve most of its goals even without the weapons. >> a huge win for iran.
getting access to all the money. in every sense, this is a huge win for iran. >> in many senses it is a huge win for iran. it is a loss for them certainly. love, we are all glad the american hostages, and they are hostages. we also released a number of iranian criminals. lifting charges apparently with a few dozen of them. though much touted sanctions imposed, they are totally envious against 11 individuals and companies.
it means a big empty spectacle for political gain. imposing certain sanctions. ashley: iran moving and nuclear research. being spotted in north korea. they just move their operation. >> that is reportedly the case. a lot of nuclear back door traffic. only marginally aware. at the end of the day, the important dating is iran feels empowered. they are indeed empowered. because of our restricted rules of engagement imposed by the obama administration. because of the military
leadership. they are able to humiliate our sailors. it does not really and with humiliation. pushing this to a point where there is a file and exchange. again, the only people that benefit would be the iranians and russians. ashley: ralph peters, as always, to the point. we appreciate it. a ton of money in the stock market this year. we will have those numbers for you next. you know you have it big time when they are making fun of you on saturday night live. look at this. >> the next question is for our front runner donald trump. >> thank you, maria. ♪ hey dad.
hey sweetie, how was your first week? long. it'll get better. i'm at the edward jones office, like sue suggested. thanks for doing this, dad. so i thought it might be time to talk about a financial strategy. (laughing) you mean pay him back? knowing your future is about more than just you. so let's start talking about your long-term goals... multiplied by 13,000 financial advisors. it's a big deal. and it's how edward jones makes sense of investing. weinto a new american century. born with a hunger to fly and a passion to build something better. and what an amazing time it's been, decade after decade of innovation, inspiration and wonder. so, we say thank you america for a century of trust, for the privilege of flying higher and higher, together.
"varney & company" celebrating a milestone today. if you are nervous before your 401(k). just look at it right now. the four richest people have $305 million. that is a rough start to the week. losing $1,000,000,000.01 day. some of the billionaires have suffered in the first month of trading this year. losing almost $9 billion. losing 6.8 oh yen here today.
>> the battle between ted cruz and donald trump continues to roll on. have a look. >> the media lead in new york and d.c. run around with their hair on fire at wondering what on earth are new york values. the rest of the country, people know exactly what that is. >> he's a nasty guy, nobody in congress likes him, nobody likes him once they get to know him. charles: and that's tough stuff, talking about ted cruz. would you agree with ted cruz on the issue of new york values? why?
>> first of all, ashley, anyone who lives outside of new york city, west of the hudson river understands exactly what ted cruz is talking about. new york values versus duck dynasty values and it's pretty darned sleazy for anybody to try to suggest he was talking about the heroes of 9/11 when he wasn't. that just wasn't the case. charles: so he's saying socially liberal, pro-abortion, pro gay, with a focus on money and media. >> they eat bagels and don't drink sweet tea. that's pretty much it. these are the values, again, that the rest of the country, when they hear what ted cruz said, yeah, we pretty much get it. when you have folks from middle america coming into times square and you've got the women down there walking around topless, making their moneymakers around, people are like what the heck is going on around here in new york city, that's what ted cruz is talking about. charles: you think this plays well in peoria and iowa? >> the southeast primary states.
you've got a lot of gun toting gun slinging folks and when you see how they treated the occu occupywallers and advocates for police officers, hey, those aren't our values. charles: and ted cruz came to new york and asked for money. apparently the money is good and not the value. >> and you have a point and i have a issue with him coming to new york and taking money and dispurging and ridiculing the people he's taking money from. that's a problem as well. charles: donald trump has been quick to respond to this as you just saw in that clip we played, nasty man, once people get to know him he's not liked by anyone. does trump get any traction out of that in response? >> i don't think he gets any traction. as a matter of fact, i think it hurts him, ashley. look, a few weeks ago they were bff's and now they hate each other. it's hard to figure out donald trump. it's monday, he either likes
somebody he used to hate or hates somebody he use today like. charles: but. ashley: but cruz is taking on his hometown. if trump went after texas, he'd get the same response from tread cruz. >> you can't mess with texas. ashley: then you can't mess with new york. >> and i think that plays well in the so-called flyover country as folks in the new york company deemed places like iowa and tennessee. ashley: how do you see this shaping up on the republican side going into iowa? do you feel ted cruz has got the conservative base enough to put him over the top in the caucuses? >> i think he just might and even if he doesn't, even if he comes in second place, i still think it's enough. here is the big problem with those evangelical votes. they're being splint tered between ted cruz, ben carson, mike huckabee, who is still out there, and marco rubio, i think he's alive and kicking in iowa if he can come in second or third place and shock everyone,
that could be interesting moving into new hampshire, he has to do it or he's out of the race. ashley: thank you, appreciate it. let's take a look at the market, closed for the federal holiday, but gosh, the dow down 8% already this calendar year and that means that varney regular shah gi galani is close to it. >> the one you have to watch is china, right now the chinese stock market is the canary in the coal mine, if the chinese stock market, doubled over, hasn't fallen out of bed yet, but it's close and all bets are off and the market could easily drop 20%. ashley: when the going gets tough, the tough get to the hamptons. you predicted a 20% decline and you've been adamant in that and we had the worst start to the year ever, is this the moment
we're talking about, do we have another 10%, do you think to go? >> i actually believe we do. there's not much holding market up from here. we could get a bounce because we're technically oversold and momentum has been so negative, there could be some bottom fishing, some value plays and there are a lot of stocks that were overpriced or seemed to be overpriced in the fourth quarter and that they'll get cheaper. i think they'll get cheaper still. there's nothing supportive of even these levels and i think we have another 10% to go in the down side and perhaps more. ashley: what is this all about? is it china's debt bubble bursting and that's having an impact across the world? is that the biggest driver of this, shah? >> that's probably the primary driver, not the only driver. the chinese economy is, we don't know. we'll find out next monday when we get gdp released from china and anything below 7% is going to be shocking, especially if it comes in well below 6 1/2, let's say and we'll get other figures in terms of what
they're spending to prop up the yuan. people looking at the chinese market as a bellwether for the economy. if the yuan gets devalued, that could cause a contagion effect throughout the emerging markets which is what we saw in '98. this is weighing heavily on the market as is the price of oil. the price of oil putting pressure on a high yield market and regimes around the world that rely on oil for their budget and for defense monies. we have a lot of geopolitical issues that are problematic. ashley: i've got 30 seconds left. what are you telling your clients? cash out and put it under the mattress? what do you to in this environment? >> we have a handful of long positions left in the portfolio. we're substantially short and we've been short so we're riding this out quite nicely, but, i think this is a good time to raise cash. no reason to go bargain hunting here, i don't think the market supports it. ashley: all right, shah galani,
thank you for joining us. >> thank you. ashley: sacre bleu, france is calling this. >> many are not working. and francois hollande hired one to try to fix the problems. too much taxes, raised in 2013 to 38 billion and france even today ranks 22nd on the the wor economic forbes competitive list of ranking of countries. they're far below other european countries. hollande is up for reelection in 15 months so if he can't get the people back to work in a country that has 10% unemployment, he's in big trouble. ashley: plus, they have a massive public sector. >> they're spending, according again to some of the data from a couple of years ago, they've spent 56% of their spending to gdp whereas in germany it's
46%. and france once hit a low of 44% back in the '70s, but it's skyrocketed since. ashley: all right, moving on to retail. last year, well, it was the worst year for retail since 2009. let's bring in jack with retail. shoppers are saving money with cheaper gas prices. why not go to the shops and spends it? >> we had a disappointing year, not bad comparatively speaking. a couple of moving parts we need to consider. i don't think it was weak demand, it's been weak pricing. there's been a considerable amount of deflation that's gone on the last year or so. people are buying, look at the number of car sales in 2013, certainly any housing related purposes, furniture, big ticket items. but what has been happening with the consumer, they've been shifting some of their preferences, especially towards services and personal services,
leisure, travel, so some of the dollars that they have they are spending outside of what we would consider retail sales. ashley: it's interesting because, look, we're a consumer nation. >> absolutely. ashley: you know, two-thirds of the economy, 70%, in fact, of this economy is based on consumption. >> and we are driving the world economy from our consumption. >> what does this mean for the retail stores, wal-mart announced they'll be shutting down stores and you've heard it elsewhere, to me we have had people say it's a retail ice age. >> we saw that during the holiday season, the pickup of the internet and i don't think that traditional brick and mortar will go away. i think that consumers want to see their product, touch it, feel it, experience it. ashley: then they go home and order it. >> some of the studies show the opposite, go on-line first and then come and take a look at it. ashley: reverse. >> they do it in reverse. and don't forget shopping is also entertainment and people
do like to get out of their houses. ashley: but the concept of the mall is struggling. >> it has been the case and i think that a mall development and firms need to understand what they are going to provide to consumers and it has to be more than just the purchasing part of it. i think that other experiences need to be factored in over time. ashley: what about pricing in regards to, stores have become increasingly competitive with each other to drive people to get away from the couch and ordering from the couch and actually going to the store. and that really cuts into their margins, that's an issue, too, isn't it? >> absolutely. there are some cases where the internet pricing for a firm competes with their in-store pricing so he they have to have consistent pricing. the consumer is able to negotiate today because of the internet. ashley: a more savvy consumer? >> a much more savvy customer and you need sales associates
who are savvy and can tell where they can find the product on the shelves. ashley: jack, thank you for being here. >> a pleasure. ashley: bernie sanders is calling out wall street during last night's debate and taking a shot at hillary in the process. no surprise there. plus the democrats take a victory lap on the iran deal. president obama says well, the world is a safer place, republicans are not convinced. cries stirewalt is next. >> stuart, happy birthday, six years at "varney & company," that's tremendous, i'm always happy to be on and it's a great show. did you know that "varney & company" has been on longer than world war ii? it's been on twice as long as the korean war. and almost six times as long as it took to build the empire state building. so, those are big deals. six years, happy birthday, buddy. see you soon.
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>> a big story has been oil for some time now. check this out. oil at 28.90 a barrel, down another 53 cents and down another 2% and same story with brent crude as well. that's more widely used oil around the world. we'll keep an eye on that and that continues to put pressure on the market. the democrats are taking a victory lap. president obama says the world is now a safer place. chris stirewalt is here to join us. i'll ask you the same question i asked colonel ralph peters. do you feel safer now? >> i feel safer because i'm talking to you and i don't think anything bad can happen to us as long as we're here together. look, i don't feel safer or less safe. what i feel like, we're watching a redefinition of political victory or defeat for democrats right now as, and you saw it in the democratic debate
last night. hillary clinton is forced to basically eat all of barack obama's legacy. so in order to get past bernie sanders, who by the way leads her in polls in two of the first three early primary states, for democrats and pretty clearly bested her in the debate, in order to get past him she is relying on the president and as being absolutely heir to his legacy, a big part of that legacy includes the iran deal and as we have seen in the events of the last ten days, this is an uncertain prospect and from my vantage point, a political dog. this is not a deal that even if its greatest proponents and say it's the right choice, even if they were right, it would take so long for that to bear out, it wouldn't do hillary clinton much good in november. ashley: what you're saying, she's trying to portray herself as the natural successor and
you're saying that some of the events of recent times may not help, however, lets me just say that she's doing that, i think, on a bigger scale to get the same minority vote in particular that would go for barack obama, she wants to pick up that vote, it's very important to her. >> oh, her clear plan -- once upon a time hillary clinton had a plan not unlike donald trump's in the republican primary in 2008 when she ran and in west virginia about driving, you take your half out of the middle. she was going to take blue collar democrats and republicans and barack obama beat her and as she comes back for the next presidential run, if you can't beat them, join them and she's focused on reconstituting barack obama's coalition, definitely includes minority voters, though polls in south carolina indicates she's not doing too well there, but she also includes younger voters and includes sort of anti-war voters to some degree
and she's struggling right now though with bernie sanders because sanders can take a position farther left and appeal to the voters in a way that she can't. so she's lashing herself to barack obama's legacy, i don't know if that's a winner, it's probably a winner in the democratic primaries where the president remains popular, but as she looks to the general election, that's a tough haul. ashley: before i let you go, i want your opinion on this video from a trump rally. take a look. >> ♪ donald trump to make america great ♪ ♪. [laughter] >> i mean, it could be an snl parody, couldn't it? what's your response on that? >> i'm not going to make fun of those girls. look, they're -- they have parents. i have screwed my kids up in ways will probably only
manifest later. there's a word of caution not just about these girls, but across the board. as parents think about inserting their children into the political sphere and having their children go out and be spokes people for a candidate, a campaign, an issue, remember, the internet is forever and these gals are going to live with this tape their whole lives. >> it's not usual for trump, not something we've seen? i've not even this anywhere, there's a shade of the obama kids that you had in 2008 maybe, and immediately after his election. but look, parents, parents-- i'll leave it at this, parenting is hard. ashley: parenting is hard, it is indeed. very quickly, chris. as we head towards iowa, ted cruz, does he hold the edge with such a conservative base in that state? >> well, i want to tell you, the full on nuclear exchange that is going on between donald trump and ted cruz is probably going to damage them both, but
in the long run you have to like cruz's chances for this reason. ideologically he lines up better with the republican base than any other candidate in the field. his views and his track record stand up better than any other candidate in the race and if donald trump tries to make these attacks on him, i think it will probably harden the support for cruz among very conservative republican voters. ashley: it's just around the corner. we'll find out. chris stirewalt as always. thanks, chris for joining us. >> you bet. ashley: new allegations of match fixing in the highest level of professional tennis. 16 players accused of losing games when suspicious bets were placed against them. we've got the details next. oh, yeah, and "varney & company" turns six today. megyn kelly is helping us celebrate. >> my son was born six years ago and wondering whether you two love "star wars" and pokemon. happy birthday. ♪
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>> juan williams. six years for varney today. the denver broncos, the 17th times that tom brady and peyton manning played each other. and this could be their last with peyton manning going into the sunset, you said? >> i think it's the last matchup and you hear football fans say does peyton keep coming back for the season? his receivers were dropping the football. ashley: table. >> everybody is looking at brady is 11-5 against manning. and his record in denver is only 2-6. ashley: mile high, the ball travels a little more. do you think advantage peyton. >> flip a coin. ashley: i've got to get to
tennis and the levels fixing at the highels level. >> djokovic said he was around money for a match he didn't play in. ashley: did he report it. >> that's in doubt, that the atp said we didn't know, nobody told us there's been suspicious activity, but there's 16 of the top 50 players in the last ten years. ashley: recognizable names in there. >> yes, and not only that, but the fear, like as roger federer said today. if we don't have integrity. ashley: you don't have anything. >> you don't have anything. there's a difference between wrestling and boxing. ashley: trying to do the fixing, who is it, has anyone said it? >> the 1919 world series and chicago white sox eight members were approached by gamblers who knew they could get to the players because they knew that the owner of the white sox was known to be a cheap fellow, hey, we can buy these guys. ashley: we'll continue to
>> all right. here are the big stories this hour. oil breaking below $20 a barrel earlier. we're on watch for the new 12 year lows on crude, a big deal for the economy, we know that and a big deal for your money bringing the markets with it. a prisoner swap with iran, we get four, they get seven and we're paying them billions in debt and interest. president obama says, oh, it's a big win for diplomacy, but the world is a safer place. and the bromance is dead, trump and cruz turning on each other. trump says cruz is a very, very nasty guy. we'll talk about it. while on the democratic side, the gloves are off. bernie and hillary spar over wall street and guns. >> welsh it's the video of the day, elon musk's rocket failing to land. watch it topple over and it's not pretty. hour two of "varney & company,"
that is pretty, starts right now. ♪ ♪ nothing keeps you down ♪ ♪ you're the best around, nothing's ever going to keep you down ♪ >> we're going to use every birthday song put together. it's our birthday, varney is six today. how far we've come in a short time. thank you for your support, we appreciate it. oil has touched below $29 the first time in 12 years. 29.03. now we're getting more supply from iran and that puts more pressure on the price of oil. it's dragging down certainty the markets and iran says they're going to pump out another half million barrels a day. it just seems to me that oil can om only go in one
direction, further down. >> ashley, every time we think it can'ting lower it does. remember the price 18 months ago, about $105 a barrel and this has been, what, almost a 75% reduction in the oil price. you know, as you just said with iran now talking about putting more oil out onto the market, what this is telling me is, you know, we could see oil migrate back up to 30, $40 range, but the days of $100 a barrel oil are long past us. and by the way, one other thing, ashley, remember just a few years ago, a lot of the mal enthusiasts were saying we've reached peak oil, we're not running out of oil, the world is awash in oil right now. ashley: it certainly is. what does it do for the u.s. economy, we know what it's doing to the economy of russias and the venezuelas. is this going to continue to create the volatility that
we've seen in the markets and general uncertainty? >> so, this is a two-edged sword. there's a positive side, obviously, to the lower oil prices and there's a negative side. so, the positive side is pretty obvious. i mean, americans are now paying what, in some places 1.69 a gallon for gasoline at the pump. that saves consumers huge amounts of money and i talked with stuart about this a week ago and i estimate, ashley, the average american family saving $150 a year through oil, lower oil prices and that's a really good thing for consumers. and by the way, for manufacturers, as well. that use oil. the problem is that the, you know, the oil and gas domestic industry has buried the economy for the last five or six years is getting hammered and we're seeing a shutdown of oil rigs across the country and that's not a good thing for that industry. >> quickly, steve, when does this rebalance itself? at least another 12 months away, do you think? >> let me just say one other
quick thing about this, anybody who is invested in alternative energy, green energy is going to get wiped out. there's no way green energy can compete with gas at $1.79 a gallon. look, i think that we are going to see prices rise over some time to their normalcy and i think the new normal for oil prices is going to be somewhere in the 40 to $50 a barrel range. i don't think the industry's going to be able to survive at, you know, 25 to $30 a barrel oil. ashley: we shall see, steve moore, thanks so much. and let's turn back to the politics, republicans and democrats. a debate last night that had hillary clinton and bernie sanders at each other's throats. >> instead of paying $10,000 to blue cross or blue shield, yes, some middle class families would be paying slightly more in taxes, but the result would be that that middle class family would be saving some $5,000.
>> i will not raise taxes on the middle class. i want to raise incomes. >> well her campaign was saying, bernie sanders fought for universal health care for my entire life, he wants to end medicare and medicaid and the children's health insurance program, that is nonsense. >> he has voted with the n.r.a., with the gun lobby numerous times. he's criticized president obama for taking donations from wall street. ashley: it says at the bottom, hillary gets berned. and did anybody watch it, 9:00 at night on a holiday weekend. anyway, former miss america joins us now, kirsten, thank you for being here. >> a spirited debate. i watched it, me and my husband did. ashley: you're political nerd. >> i'm a total political nerd.
bernie sanders had a great night and fascinating going into this, in the last couple weeks going into this debate. it's the last one, and they have another debate for the republicans before iowa and the democrats do not. >> when hillary clinton is the front runner she's knowledgeable and solid and strong and she was in all of those ways, but when she's coming from a place of vulnerability, i don't think she comes across in a good light and bernie went hard on the wall street issue and her taking $600,000 in goldman sachs, in campaign contributions and the goldman sachs speaking sees. he looked strong. ashley: it's interesting because you had sanders' passion against hillary's practicality. what is winning the day? do you think the passion is firing up more of the potential voters? >> absolutely, you see it on that, it's the populism that is helping donald trump on the republican side and barack obama was the start of this more progressive, much more left-leaning side in the democratic party really coming up strong.
i think the democratic establishment is probably terrified, but bernie sanders, he's not done yet. ashley: starting to feel a bit like 2008 with barack obama? >> it's fascinating, i'm sure it is and i can't imagine what hillary and her camp must be feeling. it's never an advantage to be seeming the inevitable candidate and she's rock solid, but not inspiring. and i know so many young people and young women, you know, of my same age group that came in loving hillary clinton and wanting to work with her and saw her on the road and lack of enthusiasm and the nature of her campaign. they were like, i don't know. i'm just going to-- i might go with someone else. >> it's not good in politics. >>. ashley: i think she total ly underestimated bernie sanders. >> i think we've seen it across the board, not typical by am i means. ashley: kirsten thank you for
joining us, we appreciate it. now, this, fox news reporting an americans were kidnapped in baghdad over the weekend. adam shapiro joins us with the story. >> news sources in the middle east say it was three americans although the united states is saying several. apparently these three people had gone to an interpreter's home when they were kidnapped. that was the last communication with the kidnappers or those three people. the u.s. government in baghdad says we're working in full cooperation with the iraqi authorities to locate the missing americans. ashley: we don't know who they are? >> whether they were contractors, but civilians from a source that was not supposed to talk about it, is not identified. we don't know if they were contractors, but they were civilians and there are three of them. ashley: we'll continue to follow that. adam, thank you so much.
now to iran, president obama calling the return of four american hostages from iran a win for diplomacy, take a listen. >> this is a good day because once again we're seeing what's possible with strong american diplomacy. as i said in my state of the union address, ensuring the security of the united states and the safety of our people, demands a smart, patient, and disciplined approach to the world. ashley: joining us now, attorney jay seclu, you fought for the freedom of the pastor, is it america safer? >> that's a different question. is america safer? well, safer for these five americans that got out, but the deal itself, look, i've said this before, we should have never been in the situation in the first place where we were having to negotiate the release of the americans after the
nuclear deal was reached. that should have been a pre-condition of sitting down. i've been critical of the nuclear deal since the outset. i'm concerned we've offices in jerusalem. my israeli colleagues are not happy about the iranian nuclear deal, but they're satisfied that these are out of prison, out of iran, so we're happy that the release has taken place and that was facilitated and happy to report that we have the client is on u.s., at a u.s. military base, look, my job, ashley was two-fold. one, keep the client alive while he's in prison. that's a big job in these kind of cases when they're hostages. number two, while you're keeping him alive, secure their release, we've done that, and as i told our team on saturday when the news came in, as i say when i walk out of the supreme court of the united states after an oral argument, next case. so we're now onto the next case, this case has been closed successfully and i think the
united states, i don't think the swaps were that difficult. these were not individuals that were engaged in-- our clients did nothing. ashley: jay, sorry to interrupt. >> these clients were engaged in sanctions violations. is that how it works? since the foundation of our republic we've done prisoner swaps. the thing is we should have never got there in the first place, i appreciate the president getting them out. ashley: does this embolden iran, jay, to go ahead and do the same thing and use these people, these american citizens as bargaining chips for something else they my want down the road? >> you know, the iranian regime has a lot of things to deal with. the islamic republic of iran are going to determine whether they're going to live by the sanctions, the release of their nuclear capabilities. i don't think they will. so does this situation embolden iran to take more hostages? i'm not sure, they take homes, we're talking about now, north of iran--
iraq, what have they done, three hostages taken, we don't know who has done it, could be isis. the reality is you're dealing with an unstable portion of the world that's been more unstable in the last two months and certainly in the last two years, and the reality is, as i said, i've got our clients home by god's grace, case is closed an and we move on. there are other americans in prison we're not going to forget them. ashley: jay sekulow, thank you. down goes oil and a price war in a michigan town. and one dropping down to 47 cents a gallon. that's a deal. and a luxury bag, more than gold. ♪
>> all right. hermes burkinger bag is one of the-- it's one of the most expensive fashion accessories around and it's a good investment. over the past 35 years the value of these bags has gone up 14% a year. better return on investment than gold. and joining us now, i'm looking at the bag, you've got one right here. and this is one is the bottom end of the range, just $12,000. >> i believe it is. i don't really know the price, but. ashley: a good one. >> happy the article is out, now he understands why i must invest in the bags. ashley: what makes them so expensive? >> well, first of all, they're
all hand crafted and made from the beautiful leather and they are unattainable, believe it or not. unless you have $45,000 in your pocket right now and want to come with me to the hermes store e. ashley: i could not buy one. >> you could not buy one, you have to be on the waiting list almost six years to buy one. ashley: six years. this is 12,000, how expensive they could be. >> $250,000. diamonds encrusted in it. ashley: i'm a guy and i don't understand, this is like a plain brown bag to me. you look down the street, oh, check it out. >> every celebrity that is quite an important one, carries this bag and everyone really wants what they can't get and that's the amazing marketing strategy behind the bag that
hermes used. ashley: so why waiting six years? they can't make them quicker? >> i believe they can, but it creates a demand. ashley: you're building the mystique. >> you're building the mystique, you're building the fact that everybody really wants one and can't get one. ashley: as an investment, are there people that buy these and down the road want to sell them or not the time and buy and sell. >> they're collectible and they sell, when you sell them on the secondary market for 80 to 120% of their original price. ashley: where do they sell, ebay? >> auctions, and they have them in stores like bergdorf goodman. one of these bags, a pink crocodile birkin was sold for over $300,000. i hope my husband bought that
one because our anniversary is coming up. ashley: where was that sold? >> christie's in hong kong and you can actually wear and brings your own value up. ashley: don't you ruin the investment if you use it all the time or wear it out. >> it's always well kept. i feed it, i talk to it. ashley: sing it to sleep at night. nina, thank you so much. fascinating story, appreciate it. ashley: i have some breaking news for you, signing an agreement to come back to iran. >> they've been in iran since 1953 and since the sanctions, the letter of agreement between daimler along with the eye rain counterpart that's going to build these. and as soon as this year, parts could flow in unassembled trucks for the iranian
manufacturer to start putting vehicles back together. ashley: didn't take long for the sanctions to be lift add ap boom. >> there was an infrastructure before the sanctions so they're coming back up. ashley: thank you. a man inherits a million dollar collection of cars after this, not handbags. >> congratulations to stuart varney for the 6th anniversary of the show, we never thought it would get past two, but cheerio as they say in that country you claim to be from.
>> there you go. >> i'll slow it down, slow it down. >> i'm an excellent driver, an excellent driver, this is like driver's ed. do you have your foot on the brake teacher, just in case. >> i haven't jumped out yet. >> going straight is one thing, but the challenge turning, not so easy, no. >> you'd do well back in that time period the envy of the neighborhood. >> woo hoo! >> how cool is that. jamie colby says slow down, 5 miles per hour. that was a clip, by the way, from the latest episode of strange inheritance about the orphaned cars and jamie joins us from beautiful miami, it looks like. lucky you. what is an orphan car? what is the episode about? >> i learned so much. i love cars let me start with that. i didn't know what an orphan car was. it turns out before the depression, ashley, there were 2000 manufacturers of cars.
after the depression, less than 20. so this gentleman, his name grant, he lived in iowa, loved cars, and he bought his first car when he was eight years old, his lunch money a model t and collected cars from a car company that are no longer in existence. and he h-it was hard to get parts and what do we do with dozens of orphan cars and parts and it was a tough decision for them. they found out there was raw footage from an interview their father it done on pbs we include it in the episode tonight and they were able to hear in their father's own words beyond the grave what he would want them to do with their inheritance and i think we have that sound. >> apparently we don't, jamie, let's move on. i wanted to ask you quickly about the second new episode,
called a piece of the white house, which piece, tell me about it? >> i think in this day and age you'd find it hard to believe, i sure did, but i'm travelling all over the country hearing amazing stories for strange inheritance. in 1902, laying out on the lawn of the white house was something called a plin, an architectural column, a decorative column and a law student who was walking by pennsylvania avenue picked it up, took it home and 100 years later someone in the family, the meister family in boston said what is that thing up in the attic and then we came on the scene and did a paint analysis. there are 17 different colors and coats of paint, each tied to a different presidential administration. an amazing piece of history and went up for auction. we'll watch at 9:30 eastern to see what they got for their intear tense. ashley: thank you, jamie colby. 9 p.m. on the fox business
network. >> all new. ashley: yes, indeed. jamie, thank you. there it is. now this, three americans in baghdad kidnapped and there are fears that perhaps isis may be involved. we'll get more on that and it's martin luther king day, what would he have said about black lives matter and the police. >> stuart varney congratulations, six years, wait a minute, only six years, we've been on close to 20 years and we're giving him a shoutout? what? >> happy anniversary, guys. >> you've been a superstar really for five of them and one of those years you didn't seem that good, but congratulations on six years. >> six years. >> come back in four years and we'll say happy 10th, okay? >> seems like yesterday. that was too big. >> we're done. >> i'm done with six years and i don't do fox and friends.
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♪ ashley: lipstick a look at the price of oil. touching below $29. right at the 29th dollar level. we are getting more supply from iran. let's get back to iraq. a group of americans were kidnapped over the weekend in baghdad. christian whitened joins us right now on this. are we going to see more of this? we do not know who was involved. possibly isis. what are your feelings? >> three contractors of the u.s. government. to the south of downtown baghdad. a mixed city.
it is a pattern of increasing u.s. hostage taking. u.s. negotiates with terrorists and it will encourage the taking of hostages. that seems to be happening. the obama administration made a decision to not just look the other way when u.s. families make that happen. boberg dall. things like that. that may encourage hostagetaking. ashley: because isis is under increasing pressure, you expect to see more of this. do they get into the kidnapping game as well? >> it would be interesting to see if this is isis.
to attack the enemy in this case. and places where there are not military strongholds. it is off the battlefield in iraq and syria. it has oil storage. >> let's talk about iran now. a win for diplomacy. >> no, i would not. the fact that the four american hostages were not released with the original iran deal. it seems that their fate was not really brought up in negotiations. it was not until after words that they were not included in that deal which was very generous for iran. we had four americans released.
in return, iran got back a much larger number of people that did things that were actually illegal. it is not great diplomacy. it just shows that this administration in washington will give iran almost anything that it wants. ashley: take you so much for joining us. we appreciate it. the french economy is in a state of what he calls economic emergency. lauren simonetti. >> he is up for election next year. 3.6 million. this is more than in the european union. getting people back to work. it was striking to me in this story. they are declaring economic emergency. what about terrorism. all those fears about national security.
we are more concerned about the employment rate. >> all right. thank you very much. it is the worst year since 2009. are we headed to the talked about retail ice age? i think you are the one who coined that phrase. >> yes. are we seeing what you had forecasted? a slowdown in retail. >> yes, ashley. another 60 retail stocks at 52 week lows. in danger of contracting, like walmart has. it will spill over into the economics.
>> why? what are they not doing? >> competing against the computers. fixed fortifications. for example order retailers that are not working. the middle class is getting crushed. people are motivated. people are paying higher prices in nine out of 10 monthly expenditures. they do not have the money to shop. reference and france. 10% in the u.s. as well. you look at the lowest labor participation rate in 30 years. ashley: still very doomsday. what can they do to turn it around? what do retail stores,
brick-and-mortar, do? >> very capable retailers like macy's that have moved up from 20 online retailing. they have a great management training program promoting merchants like ashley grazer. macy's is going to win and benefit from the consolidation. we will have a real regional renaissance in 2020. ashley: many that will fall to the side. >> a lather regionals and a lot of category dominant retailers. toys "r" us for credit for star wars. they still need to recapitalize. they need to be very supportive and lowering rents and other charges. >> thank you very much. all right. today is martin luther king day. we were joined by his niece. roll tape.
>> in the middle of the riots and the bombing. everything was safe. let's be peaceful here. let's find solutions here. they would encourage communications. ashley: star parker joins us now. martin luther king's message today. what would he say to those groups? >> you do not want to create a war with the police. simply because we know it is not true. also wanted to participate in exercising their second amendment rights.
the constitution that supported that declaration of independence, he would air on the side of caution in changing our second amendment rights. the anger associated with it, doctor king would say, hold up a minute. his movement was about revival. this movement today is about revenge and redistribution. >> he would oppose the way they are trying to get the message across. is that right? >> i do not know if you he would even want to support their message. this insight meant of anger. i am not sure that he would argue on the defense.
this is not a good idea to have this tension escalate. >> it is not black lies that matter, it is all lies that matter. >> well, let's face it. african american communities. it is about specific instances of criminal justice reform. they want people to be sensitive. i do not know that he would change his discussion. it is one that is focused on particular situations. ashley: we are already out of time. star parker, thank you for joining us on this martin luther king day. politics. adding on the candidates. better predicting the election than any of the polls. he will be here next. ♪ i have asthma...
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the gas prices are falling as we speak. 155. why? oil prices continue to fall. take a look at the latest trade. we are up now once again. above $29. as well as 28-point dirty six today. one month ago, oil was trading at dirty $7. you think it is low here, the national average 189, by the way. it got as low as $0.47 yesterday. having a gas price war there. we will continue to watch. ♪
>> congratulations, stuart, on six fabulous years. we are wishing you the best in the future. congrats. ashley: varney and company six years old today. thank you to you, the viewers, for supporting us all of this time. all right. now, this. spacex. trying to land a market on a floating bus. what went wrong? >> let's talk about it being an
epic failure altogether. >> the mission was a satellite. several times before. landing on this platform. able to reuse the rocket to save money to make it more efficient. it did not work out so well. the heavy fog after liftoff. they were bigger. [laughter] >> his arch friend in need, if you will, that is an understatement. good for that. >> thank you. all right. thank you. now this. betting on politics.
he has created an election setting. it is interesting. are you taking bets now? >> it is a legal in america. >> the polls, these people are not thinking about the elections as much as we do. the phone call comes in. trump is running. you cannot trust the poll. putting money where their mouths are. historically, his prediction markets are much better than pundits. >> this site is our conversion. they post the odds. this is into percentages. trump is way up.
ashley: 3% hillary. for the presidency. >> she is the favorite. cruise is close, according to the people that put their money where their mouth is. i had all year until last week. >> a 37.1%. hillary at 51.8%. money going to hillary. 12.7% for marco rubio. ted cruz not even in their. >> it is not perfect. on the democratic side, losing all last week. taking them back up during the democratic debate. >> joe was just saying, bernie came across strongly.
appealing to those mole any host. ashley: very interesting. >> were likely to vote if they were in the united states. >> being able to bet on things like this in the united states. >> well, i hope so. predictive. it is not as accurate. the prices are not as accurate. the pentagon once asked a economist. betting on terrorism. valuable information. ashley: thank you so much. good stuff. trump versus cruise. trump says cruise is a very,
very nasty guy. more varney next. >> stuart varney six-year anniversary. eighty-five years old when he began that program. it is amazing that a man can work at that age. stuart, for all of us that are aging a little bit, you are an inspiration. keep going. ems is always standing by. happy anniversary. ♪
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see car insurance in a whole new light. liberty mutual insurance. ashley: back to the election. ted cruz ruffled some feathers. the values in new york city are pro- abortion or pro- gay marriage, focusing around money and the media. >> that was a very insulting statement that had made huge. >> cruise defending his comments. >> running around with their hair on fire. people understand exactly what that is.
actually scoring with voters in the midwest. >> everyone in iowa understands what he is alluding to. a solid hit by cruise on tron. donald trump, i think that people are due no going into this election that he will not necessarily champion social issues as president. >> what do you think ted cruz is alluding to? the issues he said or something else? >> i really think that he was alluding to those issues. typically dominating turnout. i think when that is what he said in the debate the other night, that is what he was talking to. again, i think that this could
cause some problems for cruise down the road. this could really impact the ability to get delegates. >> don't you think that it goes away for a week? >> well, sure. i do think that it becomes an issue. still going on when people in new york low. we saw, even in 2012 with romney and santorum. every delegate matters. kind of tossing those new york delegates aside. >> be careful if he wants to buy more money from goldman sachs. >> it makes the world safer.
ashley: i am ashley webster in for stuart varney. the market story of the year, the price of oil when it goes on plunging. yes, markets are closed today. we are still open for business. a sunday night over a holiday weekend. bernie sanders, hillary clinton going after each other. ted cruz and donald trump feud goes on. stay right there. the third hour of varney starts right now. ♪
ashley: this developing story for you. muslim women should be deported if they do not learn english. lauren is here to explain. >> he is using muslims as a political football here. if you are a muslim woman immigrating to britain's, if you do not improve your english or learn english, out with you. he wants them to assimilate into british society. whether donald trump should not be allowed into britain because of the comments he made. >> it does not mean anything. hey, we do not like what you are saying. maybe we should offer free english lessons to muslim women.
>> it is still very political. interesting development, nonetheless. ashley: oil. the market story of the year. you can expect oil will remain in focus. right now, 2920. oil is telling us where the stock market goes. are we now in full correction mode? >> i would not say full correction mode yet. the price of oil is down almost 70% over the last year and a half. it seems to be lifted. seeing it continue to go down would not be a shocker which could drive the markets even further lower. ashley: in order to get fair value. would you agree?
>> in some cases i would. i think that there are some opportunities out there. it will give us quite a bit of great opportunities and buying. ashley: with that in mind, do you have some pics today? >> i do. prices as low as they are, people are concerned with some of these companies out there. these are wants to keep in eye on this year. the price of oil continues to go down. conoco phillips. they have a very strong balance sheet. hitting them an opportunity to invest in some of their long-term. we will weather the storm and eventually we will see the price go up. >> same reason i would imagine. i wanted to ask you about your last one.
>> we like that ge is getting back to basics. got rid of quite a bit of their synchrony bank over the last year or two. we feel that people will continue to fly to safety. it has increased over the last several years. we feel like it could do pretty well. >> very good. thank you so much. appreciate your insight on the markets for us. >> france's president starting and emergency jobs plan. that is a lot of money. lauren simonetti has the details on all of this. >> 3.6 million french people out of work. reducing the 10 plus% unemployment rate. that is the goal.
obviously, it you stated the cost. it is expensive. not only does where does the money come from, look at what is going on in france. it seems like such a big issue. it seems like this is where he is putting his money. it is just, you know. economic emergency. a social emergency. security emergency. lauren, thank you so much. hillary clinton, bernie sanders and martin o'malley facing off in the fourth democratic debate last night. listen to this. >> blue cross or blue shield. yes, some middle-class families would be paying slightly more in taxes. that middle-class family will be
saving $5000. >> i will not raise taxes on the middle class. i want to raise income. >> bernie sanders fought for universal healthcare for my entire life. he wants to and medicare and in medicaid and the children's health program. he has voted with the nra numerous times. he has criticized president obama for taking donations from wall street. ashley: alright. pretty feisty. more again, interesting. these democratic debates, we joke about it. it is very hard to find them. i think that is how hillary clinton wanted it. she can just move on in her mind. straight to the presidential campaign.
bernie sanders is tapping into something. >> hillary clinton was really lucky. bernie sanders feeling the burn. i think hillary clinton felt the burn last night. down down abbey for you. >> of course. of course. i think hillary clinton felt the burn. the debate that stuck out the most to me that literally made me laugh out loud is when hillary clinton's that to pretty sanders that she agrees that no one on wall street should be too big to jail. if you watch saturday night live, they go really? really? that is how i felt watching clinton.
maybe her campaign should be careful. who is too big to be jailed. >> did she under estimate ernie sanders and recognize that, perhaps, a little late? she seems to be playing catch up a little bit. >> if you look in iowa, she is ahead nationally. this is similar to what we're we are seeing played out in the republican debate. no one thought that she would lose to barack obama in 2008. no one ever thought that it would happen. it did. the base of the democratic supporting understands that they really planned it last night. they do not trust her. they are uneasy. i think it is far too early to write off bernie sanders. i have been saying that for weeks.
ashley: yes, you have. secretary of state john kerry spoke about it earlier on fox business. world the tape. >> we are in very direct contact with the iraqi authorities. we have a good sense of what may have happened. people are following up on it. that really is all that i can say at this time. ashley: president obama says that our deal with iran takes the world a safer place. would you agree with that? >> i do not think that i would totally agree with that statement. very sufficient with the government. from the beginning, this is still important to know. people that have absolutely no negotiation skills. the american hostages should have been released prior to this deal ever being signed.
number two, what does this encourage? we have seen quite a bit of it in northern africa. they obtain millions. what happened this weekend? we saw at least three american contractors in iraq being held hostage. i think what is happening with this deal is that the hostages should have been released prior to being signed. if you negotiate with america, you will get aliens and payouts. you will get your oil embargo release. this is encouraging our arab allies and countries in the middle east to go nuclear. why would they do anything but. >> thank you so much. all right. commercial airline pilots.
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>> let's get right to it. commercial airline pilots are using autopilot just too much. shortly, tom sullivan joins us now. what is your reaction to this? >> what do we need pilots for. ashley: because pilots go wrong. smart uniform, by the way. it looks professional. the thing is, the problem with this report that i have is pilots come in all shapes and sizes. some are better than others.
some airlines do a better job of training than others. being very stereotype here. a lot of the foreign airliners do not trained anywhere near the levels here in the u.s. they brought up the triple seven. some of the foreign carriers teach their pilots to fly by the book. american pilots generally are taught to fly. in fact, i was talking to a friend of mine. they encourage that instead of hands flying the plane when you are on so many a month. >> what skills are good? >> everybody has to go in for their recurrent training on a
regular basis. they put you through everything. you get lots of scary situations to go through in a simulator. they have to cruise on board. then they come back again and land the plane in tokyo. they only get three or four landings. >> they are sleeping for the bulk of the party. >> they rely too much on autopilot. is that the question? >> they have saved so many flights. you can be overreliance on autopilot. from newark to buffalo.
they were icing up. they left their autopilot on. you have to feel the plane. there are some pilots. that pilot made a mistake. >> all right. stick around. watch this. definitely no cigar. failing to land on a ship out in the ocean. look closely. it looked good. gave out. it explodes. boom. there you go. more on this. space.com. okay. epic fail, if you like. they got it up into space. landed right where was supposed to. it just kind of fell over.
are they getting closer to getting this right. their main mission is to launch satellites into space. this time they launched a satellite to map the earth oceans. they just want to make sure that they can do it offshore. they will want to have this offshore capability. they want to reuse the rocket. >> that is their goal. $16 million just to build and launch one of these rockets.
>> that is $60 million that you do not get to use anymore. buying a new car to make the trip back. no. if they can get this to work, they can say that 16 million for the rockets. you only have to pay for the fuel again. a fraction of the cost. do that again and again and again. it makes it so much cheaper. the only way to get there is to reuse these rockets. ashley: getting closer. >> very, very close. ashley: thank you for being here. appreciate it. >> i am proud of that. i do not know what it is. they are banding together.
if you look at this, it has to be 75%. somehow we have to unify. we have two band together. what they have done at liberty. your country has to do that. let's do it. we can do it. no matter where i go, we are having tremendous crowds. we went to dallas and mavericks arena packed with 20,000 people. oklahoma 20,000 people. no matter where we go. i understand you have rooms with
the various equipment to show on the screens. we will just cut that off. you have rooms all over. no matter where we go. this is a movement. this is a movement going on. we want to take our country back. our country is disappearing. you look at what is happening. our country is going in the wrong direction. it has to be stopped and you have to be stopped fast. i know that maybe hillary will be here. if she is, maybe she can play this back. we cannot have another four years of barack obama. we cannot have another four years of hillary clinton. [cheering and applause] we just cannot do it. i watched that debate last night with the three of them.
he was the mayor of all the more. then he became governor. they thought he did a job. it turns out he did a horrible job. donald trump. donald trump. then the other two, you know, you have a socialist who was here, actually. it could be worse than that. and then you have hillary. did anybody watch that debate last night? what it means is tremendously high taxes. we need to build our military. so big. so strong. so powerful that nobody will mess with us. we have to do it. our military is the least prepared than it has been in generations. the least prepared. we need it more now than we have ever needed it.
listings of different things. the naval base. we are going to build it did. we will build it strong. >> listening to donald trump at a campaign rally. hoping to appeal to the evangelical crowd. supporters they are getting large rounds of applause. especially when we cannot afford another four years of barack obama / hillary clinton. more varney coming up next. ♪
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call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. ashley: wary drivers? rejoice. tesla elon musk now predicts his company's cars will be fully autonomous within the next two years. this as the obama administration is pledging $4 billion towards the development of self-driving cars. apparently they're just around the corner. shana is now with me and, shana, i guess the question i have for you is how far out really are we from not having to drive anymore? >> i think we're looking at a few more years until we are even in the position to have ourselves behind an autonomous car and potentially, you know, let us drive us for periods of time where, you know, when we
get behind a car and let us drive us across the country, i think we're far away from that. ashley: well, elon musk, stuart likes to call him pt barnum but he is an entrepreneur, maybe prone to exaggeration but we do have automakers right now testing vehicles in california. once this comes to being, i mean is this going to change everybody's life? because i enjoy driving. i don't know if i want to sit in the back of a car that's driving for me. >> i think that it's a revolutionary technology, and i think that's why so many carmakers are putting the time in to test this specifically on the roads in california, which what we saw this week there was a report out that the seven carmakers have -- or automakers have tested the streets in california and had to report the number of times that that person behind the wheel who's testing it had to take over so that something bad didn't happen and we saw these numbers out this week.
so it shows us we have a ways to go to get where we need to be. ashley: is it going to take extra infrastructure to allow this because all the sensors and cameras they have on them they're quite able to go out on the existing interstate system and road system. >> i think the biggest challenges are not necessarily the infrastructure itself across the country. i think the challenges are regulatory, i think the challenges are, you know, some of the funding to test to continue to test this and how much -- you know, continue to pump money into these pilot tests. not -- you know, this week as well the department of transportation secretary talked about establishing a framework so that they can test these cars across the country in some sort of route and not just on the streets of california. so infamous in regulation are going to be really important and more important i think than the infrastructure inflammatory. ashley: yeah,& good luck trying these on the streets of manhattan. it's going to be interesting. >> it will be. ashley: thank you so much. >> thanks so much. ashley: back to politics.
the donald trump ted cruz feud is not going away, and it's all about so-called new york values. we ask a retired new york police officer what he thinks about all of that coming up next. and yesterday's our birthday. "varney & company" on the air for six full years. and here's to another six. >> happy birthday, stuart from "varney & company" six years. i would love to join you, especially when you call me rachel, which is a combination of your daughter rachel and gretchen and especially whenwite stock market. i hope that will happen next time. but most of all if i can just remember that beetles song that you drive me crazy with and sing every commercial break. congratulations.
>> my mind is already made up of what i want to happen in the ring no matter what he may say, you know. it is about part of boxing. sometimes guys say things the nerves just -- of what they had to do to get in there because this is a brutal sport here in. ashley: certainly is. that was boxing champ appearing on this very program and guess what? he went on to win that fight
with a ninth round knock out. flat on his back, by the way, for several minutes and while they're keeping his title. good job. the markets are closed for martin luther king day but the european markets were open. they just closed actually in the last five minutes and reached the day lower. >> i mean look what happened here on the u.s. stuck on fry the dow jones down more than 390 points so that's what european markets were responding to. falling a little bit more because our markets are closed today. but you do have all of them lower, all of them less than 1%. the big damage in spain, the ibex down 1.7%. ashley: absolutely pummeled in recent times. so you look at that, down one half of a percent -- >> but a level near a three-year low. ashley: uh-huh oil. thank you very much.
let's take a look at oil. dip below 29 bucks at 28.98 down 1.5%. ceo chris is with me now to talk about oil and i guess the question we always ask our guests is how low can it go? >> great question. i think we're going to see some downward turn with the iranian supply coming in. how much will that materialize? i do think there's a good bullish case for oil. ashley: tell me about that. that's the first time i've heard that in a long simon. >> we think supplies are going to start coming off the line in the united states a half million barrels or more in the next year. so capex spending is definitely putting projects on hold because the price of oil isn't economical to continue fracking. supply will come off the line, we think oil will rally back into the low 40s by middle part of the year.
let's not say double and then go back to 60. but i think oil getting back into the 40s and holding throughout the -- ashley: so, in other words, saudi arabia strategy is to keep pumping at full tilting in analytical they can put smaller producers out of business or sadly shut them down. >> yeah. i was in the middle east all last week. ashley: what did they say. >> i gave a keynote speech and they said how low do prices have to go before the united states goes away? how do we kill you guys off? so it was basically how to get rid of you? so they even said the strategy is working. they're going to keep going on with market share protection versus concerned about the price. ashley: what about the other side of the equation? the demand. we know what's going on in china. >> it's not in great shape. we think by the end of the year the markets stabilize and i think the iranian oil has been factored into the price a little bit, so i don't think we're going to see the prices plummet because iran sanctions
came offline. this was long time coming. we knew this was going to happen. ashley: by the end of the year. >> we think back in the 40s. not a great scenario but better that be 25. ashley: it sure is. thank you so much for being here. appreciate it. back to politics. ted cruz over the weekend double down on his claim the donald trump has so-called new york values. watch this. >> everyone understands that the values in new york city are socially liberal or pro abortion or pro gay marriage focus around money and the media -- >> that was a very insulting statement that ted made. ashley: very insulting. well, let's get to retired new york city police officer james smith who joins us now. james, what's your reaction when you hear ted cruz start talking about new york values in a very negative sense? what's your first reaction? >> well, i was disappointed to hear mr. cruz, senator cruz disparage new york values.
i think new york values are no different than the values of most americans, all americans for that matter. you know, we all believe in the say things. we all want the say things for our kids and for him to, you know, somehow say that people -- in other states have different values, you know, it's disappointing. we've had seven years of divisive government and we don't need four more years of it. i would rather him try to unit and look to common values in america than be divisive along ideological lines. ashley: donald trump said really? well, i remember 9/11, and i remember how new york responded. that's what new york values are about, and i know that you lost your wife in the 9/11 attacks. would you agree with mr. trump that on that horrible day new york showed its true face and values?
>> absolutely and new york is -- and their police officers, firemen in particular, they stood up for american values. and it wasn't just new york values, it was the american values, you know, of helping your fellow man and going -- you know, encourage, bravery under dress and they went in there and did the job and that's what new york values are. and new york is rallied around the police department, rallied around each other and, you know, spent months digging and recovering. that was new york values too. and i think new york values are no different. maybe we do things a little differently here. maybe a little bit more tolerant. but, you know, our values are the same. and it was -- yeah, it was disheartening to see. this isn't the lincoln douglass debates between trump and cruz. it started a few days before the debate because they argued over songs. what songs they're playing at their rallies. that's what angered me and that's why i responded. you
know, and then he doubled down during the debates, which just made it worse. ashley: we'll have to leave you there. but james smith, thank you so much for joining us. we really appreciate it. >> thank you for having me. ashley: coming up next the british parliament now debating whether or not to ban donald trump from the country. what they are saying about that coming up next. and, yes, it has been six years since "varney & company" launched on fbn. happy birthday. >> happy anniversary, stuart, we've decided that you are so fantastic six years into your fabulous show that we're in intense negotiations, discussions, to now make it the sixth the biggest challenge for business today is not competition, it's protecting customer trust. every day you read headlines about governments and businesses being hacked, emails compromised, and intellectual property being stolen. that is cyber-crime, and it affects each and every one of us. microsoft created the digital crimes unit to investigate and fight cyber crime. we use the microsoft
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>> i am jeff flock in lake station, indiana with your frigid fox business brief. we're looking at oil. take a look at the numbers. trading below $29 once again. we got as low as 28.46. recovered a little but still bad. especially compared to a month ago. it was $37 just one month ago. now below $29 and brent today right below $28. that's leading to gas price wars across the u.s. here in lake station, indiana, we started out today at this road rangers station. 1.59. it's now down to 1.55 in lake michigan. not too far have to from here. well, maybe about six hours from here. they got into a real war yesterday where the price got
particular debate. lauren simonetti joins us now and to tell us what it's about. >> if that petition had enough support, by law they are debating that. there will be no vote it's just a debate of whether or not to let donald trump into the country or ban him because of comments he said about muslims. ashley: nothing allowed into the u.s. >> yeah, what does britain care about what's happening in the u.s.? ashley: well, there are those who don't like the donald trumps of the world saying this is hate speech, i got it got 500,000 signatures. >> a little bit more than that. ashley: you need 100,000 for parliament to consider. but this was so high profile. there was a counter petition too saying you can't do this. >> for donald trump, this is great. he's being talked about. ashley: yeah. >> this is keep hipping in the limelight right now. there's some concern about how scotland is involved, donald trump is scottish, money in the gol golf courses.
ashley: anyway what we're saying is it's symbolic and trying to make a point. >> hate speech. ashley: next story a war veteran and cancer patient made substantial progress in beating the disease using an experiment drug. the company that made that drug, well, they just stopped producing it. but after appealing, the company says now it will still provide the drug. joining me now brad and any. brad and an annie, thank you so much. brad, explain to me what you've been going through and how this how did this situation came about. >> i've been going through lots of chemotherapy, started with tumor in my abdomen. did multiple surgeries, chemo, raidation, failed in november. had a recurrence they went a day and started me on a
clinical trial in june, and i've been on that for 18 months now. ashley: sorry to cut you off. but the drug was showing signs of working? and then you find out that they're not going to produce it anymore. is that right? what did you do then? >> that's correct. i started with four tumors and now i'm down to one. very small and right before christmas they said, you know, we're going to stop the trial and sorry. and that was pretty much it. ashley: so, annie, what happened then? who did you go to to say wait a minute. this is working for my husband. you can't just stop this now. what happened? >> i mean pretty much i obviously was very upset. and we wrote something on facebook and started kind of a campaign called rally for brad and it was really just to create awareness of issues like these. we were just doing anything that we could to get the drug company to change their mind
and give my husband the drug. ashley: and how successful was that campaign? >> it was very successful. it didn't take long but the drug company said no several times to us and to our doctors. but changed their mind just last week and are going to let him continue the trial. ashley: that's terrific. so, brad, has there been a gap in the treatment for you? or -- were you able to keep the treatments going on the regular schedule? >> they're going to keep me on the regular schedule. ashley: okay. but how much -- are you going to continue to to take the drug and what's the prognosis? >> as long as i can stand it, i can take it. as long as my doctor think so it's the right thing to do and continue working i'll continue to fight. ashley: brad and annie, thank you for joining us today, and we wish you the best of luck and thank you so much. >> thank you. >> thank you. ashley: all right. coming up next. millennials very vocal about
politics and who they will vote for. but come election day, we'll actually show up at the polls. that's a good question. and today we're celebrating our birthday. six years of "varney & company" on fox business. >> congratulations, stuart, on six great years of fox business, by the way, australia's loss is our gain. congratulations, stew. when i went on to ancestry, i just put in the name of my parents and my grandparents. and as soon as i did that, literally it was like you're getting 7, 9, 10, 15 leaves that are just popping up all over the place.
yeah, it was amazing. just with a little bit of information, you can take leaps and bounds. it's an awesome experience. so i thought it thanks might be times, dad. to talk about a financial strategy. you mean pay him back? so let's start talking about your long term goals. knowing your future is about more than just you. it's how edward jones makes sense of investing. itswhen you're engineeredct to literally to drive circles around the competition.
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ashley: and now this. airbus teaming up with uber to provide on demand helicopter service. wouldn't that be nice? lauren simonetti explains. >> are you buying, ashley? ashley: well, what's the cost? >> we don't know the cost yet. well, if you remember uber experimented with helicopters from manhattan to the hamptons. ashley: i do and they sold out. >> they were popular. now airbus, they're trying to make their way into silicon valley. targeting the future, making use of their helicopters by partnering with uber this week at the sundance festival in time-out let people hail a chopper. ashley: what do you do? go to the nearest field? >> the uber car takes you to the helicopter. real interesting here. the price of the oil affects this story because airbus isn't using their choppers as much because the energy companies aren't using them to explore the fields, et cetera.
ashley: do they say how much cost-wise? >> we don't know yet. ashley: fox business will get an account with uber. >> yeah, and a discount i hear. ashley: a discount. thank you very much. now this to the 2016 election millennials as we know can be very vocal about politics but come election day, will they show up at the polls and actually vote? joining us now, sal, sal you're a minimal. and you are a political millennial. so i expect you will vote but what about the many people of your same age? they sale up but do they turn up and vote? >> exactly and you have to take that into account in past 2012 about 60% of millennials said they were going to show up but only about 50, 52% showed up. so now we're looking into the iowa caucus as millennial enthusiasm for politics. and according to the latest cbs poll, 84% of millennials, more than any other age group
are excited and show up in millennial. will i think this time decide in both parties who wins that caucus. ashley: so do you think the race this time around has gotten more millennials involved? and why is that? is it donald trump or bernie sanders or both? >> it's both of them. millennials are looking for someone exciting and outsider. they voted for barack obama in 2008 because he was the outsider and now you have ted cruz winning the vote there and bernie sanders debt desmating hillary clinton. i think in iowa he's winning 55 points above hillary clinton when it comes to the youth vote. ashley: is it good for trump or not? does trump -- can a very positive or negative reactions? does it benefit him more among millennials? >> well, it's interesting because the latest cbs poll that i mentioned about 42% about iowa millennials now favor ted cruz over donald trump and donald trump is only winning 28% of those.
so when you factor that in, ted cruz could poll off a win since he's running neck and neck with donald trump, and of course i think the big story out of the iowa caucus and we look into it is that rand paul is probably going to finish third. he's going to completely surprise everybody with his youth vote support and come in third in iowa. ashley: what -- sal, do you think is the biggest issue among millennials in this cycle? >> this time around, it was the economy but since we've experienced terrorism in san bernardino. terrorism has dropped to the number one issue. so now we're looking for business savvy like donald trump but someone who can keep them safe. ashley: thank you very much for joining us today. we really appreciate it. >> thank you for having me. ashley: we'll have more varney after this
i mean, listen, bernie sanders campaign slogan is feel the burn, and i think hillary clinton felt the burn last night. that was a tough debate. ashley: felt the burn. that was morgan on the debate last night. quick check of oil oil. it's low and staying low. 29 bucks. let's because to the rockstar of fox business network. kneel cavuto. take it away, neil. neil: you just mocked me there. ashley: no, i didn't. neil: this is when you criticized my scottish accent. ashley: that's awful. neil: thank you. and, by the way, where is varney when everyone is congratulating his sixth anniversary? >> apparently he's taking a birthday vacation. he's earned it. neil: okay. a big show, a anniversary show, you might want to show up. >> i know. neil: but i know he's having a family reunion in brooklyn, and he's got to go. ashley, thank you very much my friend. well, the markets are closed but, unfortunately, much of the world's market