tv Varney Company FOX Business February 22, 2016 9:00am-12:01pm EST
we need to be careful and this needs to leave the legislation. congress needs to take up this issue as well. let's not use this, apple should not use this as a platform for trying to stop a very legitimate law enforcement investigation. >> got it, steven, thank you for joining us and condolences. stuart varney, take it away. stuart: and bernie loses and trump wins, and stocks go up. start with very good news for wall street about a half hour from now, stocks will continue last week's strong performance. oil is up. there are predictions of good economic growth this year, that's all good for stocks and, yes, bernie did lose and trump did win and stocks are up. we will discuss any connection. there's also this, the republican establishment lost. trump is on a roll.
the democrat establishment won, hillary clinton may also be starting to roll. however, the word indictment has not been forgotten. an interesting item from hillary's e-mails turns out she was reluctant to leave her hampton's vacation to attend a meeting on libya which has now become a hot bed of isis. welcome to a brand new week. politics and markets right outfront again. "varney & company" is about to begin. ♪ >> oh, don't you love it? you're looking at a monday morning opening bell rally. of course, we're looking for reasons, that's what we do and we will consider the possibility that trump win and bernie's loss cheered of investors. for sure, russia's energy guy says the crude output freeze will be a done deal, oil is up
on that, 31-54 as we speak and that does help stocks. let's get to stocks. ashley is with me. ashley, go ahead, shoot me down. my idea. ashley: that's an invitation. stuart: go for it, young man. trump wins, bernie loses, is there any connection to this monday morning rally. ashley: absolutely none. there's such a long way to go in that race. it would be good for the markets ultimately. you just talked about oil and that's where the rises. the lockstep between the oil and stock market, it doesn't have a whole lot of sense, but it's that we're seeing oil coming back and markets higher. stuart: for the last several years i was hoping there was a connection, but, you're right. ashley: i know, shot you down shamelessly. stuart: i'll repeat it in the next three hours. yes, donald trump, he won south carolina, i believe ten points clear. the question, is he therefore now unstoppable?
i've heard that word. joining us from the weekly standard. fred, is he unstoppable? >> he's getting pretty close to that, no question about it. when we get to march 1st, when there are ten primaries and he's ahead in eight of them, in polls or just the way that politicians look at what's going on. it will be hard to stop him after that. here you have ted cruz, polling in south carolina, i think he's trending down. marco rubio, is poised to be the one candidate to take on trump, but, you know, the non-trump crowd is not consolidated behind him. and rubio has to win somewhere. you know, march 1st, he's ahead in minnesota and could do well in virginia, but after that looks pretty slim. stuart: if you add up the non-trump votes and if they did consolidate around one person, i'm thinking maybe rubio, if they did consolidate, that candidate would beat trump. what do you say to that or are
you saying they cannot consolidate? >> they can, but they don't seem to be. and jeb bush dropped out and john kasich is in, and we still have ben carson and ted cruz. the wall street journal poll showed either trump-- rather, rubio or cruz could beat trump one-on-one, but we're weeks from getting to that, if we ever do. stuart: you know, i was out and about yesterday talking to a lot of people and they all say the same thing, how come trump wins, what, 36% of the evangelicals. they're not put off by the fight with the pope. he uses foul language publicly and he beats up on a former president, calls him a liar and insults the former president's family, including barbara bush and still wins by ten points. do you want to explain to our viewers. >> i can explain the
evangelical thing. three fourths of the voters in evangelicals, that's not all they are, the christians in southern states described themselves as evangelicals. they're also tea party people and very conservative people and they're also people with the vote for trump because they like his attitude and his tough talk. so, i mean, it's a little deceiving to think of them only as these devout commissions because they're a lot more than that. >> i'd like someone sometime to define evangelical. i'm sure it's different everywhere you go. fred barnes, nice to have you with us on a monday morning, straighten things out for us. >> sure thing. stuart: listen to this, jason, brian dalton, that gentleman, the uber driver accused of killing people this kalamazoo, michigan. i believe he was picking up
passengers and dropping them off and shooting people randomly. ashley: he gave a different name and they thought someone he gave a separate name. there were many, many, a number of people coming forward saying i know i was a fare in between the shootings and one said he sped across medians and he drove across a lawn and this person managed to jump out of his car at some point during that crazy trip. he got home, he called 911, his fiancee put a message out on facebook saying look, we've just been picked up by this crazy uberguy who was out of control, you know, be careful and then this remarkable story. a family got into his vehicle, had heard about the shootings, but didn't know there was any uberconnection. they get into the car, three in the back, one next to him and they say you're not the shooter, are you? and he kind of gruffly said, no. he dropped them off and went on and did another shooting. they get into a hotel and
visiting the town and realizing, oh, it was him. stuart: good lord. he had passed a background check ap driving test. ashley: yes. stuart: and dreadful publicity for uber, i'm not saying it's their fault in any way, shape. ashley: he they did a background check. he complained that other fares criticized and complained about him to uber. stuart: what a story. i want to get to the latest on apple. we have new stuff on the apple fight. fbi director james comey says he posted to the victims to get to apple to unlock the iphone. a high powered lawyer has been hired and here is what he had to say. >> it has to draw the line at recreating the code, changing this iphone and putting its engineers and creative talents to destroy the iphone as it
exists. apple has a responsibility to maintain the trust and faith of millions of people who depended upon apple to produce a product that protects their privacy, their intimate personal life. this is had a pandora's box. stuart: 0 being-- okay. he's putting it suscinctly, you change the iphone forever. former washington staff counsel, jillian turner is here. if i pose this, security versus privacy. who side are you on? >> i'm on the side of security here. i don't think you have to make a choice. i think that tim cook and olsen are dead wrong here. he said this morning that he thinks that, you know, unlocking this device would endanger the lives of millions of americans by setting a bad precedent. you know what is setting a bad precedent, the terrorist,
farouk and setting precedent for attacks on american soil. stuart: it seems we need a legislative answer and a technological answer. surely there's some way of unbeing loing the phone without unlocking everybody else's. >> of course there is. and that's what jim comey stepped in here to offer some perspective and say, hey, we're not looking to set resident. we're asking for access to this device, we're not looking for coding or block end to end encryption, we want access to one device in this instance and i think he's got the prerogative here. stuart: i've got a feeling that apple and technological companies, i think they're defending their-- >> their brand, exactly what it's about. >> there brand. ashley: it's what it's about. it's not about the public. is that cynical? no, i think that-- >> reality, i agree. stuart: they're in the business of protecting their customers and selling their product if and if they're sold them privacy, they want to stick with it. but i don't think you should
put that above national security. >> they can do both and protect the privacy of millions of customers, but in this stance, up lock this phone. stuart: i'm interested in the stock, i think it's a drag in the background for apple stock. jillian, thank you for coming to new york for us. >> thanks, stuart. stuart: spring training, thank heavens, trying to get into shape. some may have further to go than others. boston red sox third baseman pavel sandoval. he arrived at camp yesterday and his weight quickly became the topic of competition. they say they asked him to lose weight. >> he didn't weigh in, the second year of a five year, 90 million dollar deal which is all guaranteed. ashley: oh. stuart: he doesn't have to lose weight.
in a moment, how come bernie lost? turnout? probably. and the market is set to rally this morning. yes, it's up 100, maybe 200 points, but lumber liquidator is going to take a hit and the c.d.c. warned of a cancer risk from its flooring. not good. back in a moment. i appreciate you coming by. absolutely. the market's been pretty volatile lately. there is a lot at stake here, you know? look jim, we've been planning for this for a long time. and we'll keep evolving things. so don't worry. knowing what's on your mind and acting accordingly. multiplied by 13,000 financial advisors. it's a big deal. and it's how edward jones makes sense of investing.
>> do you remember anything of 27 years ago when you first were on the daytona 500. >> do i remember anything? it was like it was yesterday, stuart. it was one of those. do i remember? you see what i have to work with up in the booth? >> that was darrell on the left there and jeff gordon on the right on this program on friday and i had some fun ahead of the daytona 500. the actual, look at that, the actual race, that was a photo finish. denny hamlin won, by about what, four feet-- >> that's 100, by a nose.
>> by nose if it's a horse race, 1/100 of a second. the closest of that particular race. got it. i want to get back to politics. person bernie sanders lost to hillary clinton in nevada on saturday. joining us is a bernie sanders supporter. you lost, five points, but you lost. i don't think bernie fired everybody up enough to get the turnout because the turnout was low. what's your reading on the loss? >> well, i disagree, i think he actually fired up everybody. if you remember, just a few weeks ago bernie sanders was supposed to be 20 points down in nevada and he fired up the cause. there were lines for hour long to get in. and unfortunately a lot of working people had to go back to work and leave.
the race became tight. this was supposed to be hillary clinton's firewall and that's not how it woulds, they're fired up and ready to go to bernie sanders and you wore both for bernie sanders. >> that's my plan. i believe in his vision for the working class. expanding the middle class and redistributing in this country. stuart: okay, you're going to take it from me and-- he's going to take it off me, i pay 60% of my taxes in income, he wants more. please don't confuse the issue, he's going to take it off me and give it to somebody else. if you think that's okay, that's fine, but i don't. >> i'm a working mom and actually excited about the tax plan where i know that i'm going to be paying less on my insurance premiums and my health care will be covered. i've got two young daughters, i know their college is going to be paid for so i'm very happy
about that. stuart: i've got six kids, nine grandchildren and i don't like paying 60% of my income in taxes and damned if i'm going to pay more. let me who have -- let me move on. listen to what hillary talked about. >> it can't be just about what we give to you. it has to be about what we're going to build together. every one of us has a role to play in building the future that we want and we need you to be a part of that exciting journey we can make together. stuart: she said it, it's not all about what we can give to you. your response? >> well, i think any intelligent person would tell you it works both ways. if we're going to have a striving, strong country then we also need to participate and work hard. but we also need to make sure that these millennials have a future to look forward to and you said you had children and
grandkids. i think you would want the same thing. stuart: yes, i do. okay. i'm serious, i really have to get back to this because this is very, very important to me. it goes beyond economics, it concerns morality. do you think it's moral that i, as the father of six, grandparent of nine, 67 years old, work five or six days a week, 12 hours every day, do you think it's moral for me to lose six cents on every ten cents that i learn and bernie sanders and hillary want more? explain the morality of that, will you? >> well, i wasn't prepared that we were going to have a discussion on morality, if you want to do that, i'm happy to. what i don't think is moral, a friend has become a widow, terrible things happen to here working at wal-mart and she accumulates me and says they've just moved me from 30 hours to 12 hours i needed more hours not less.
stuart: that's something to do with obamacare? do you think that's to do with obamacare. >> people work hard in the country and don't have anywhere to go, there's not good paying jobs, that's immoral when there's so much wealth in corporations like wal-mart and wall street. stuart: yeah, take it off me. erin, i don't mean to get hot under the collar, but you struck a nerve. thank you for being with us, come again and keep the debate going, i'm happy with it. >> good, all right. stuart: the market, calm down, stuart, it's monday morning and besides the market's going up. happy. ashley: happy. stuart: it's coming off the best week in three months, we are going to open higher. yes, i'm going to call it a solid rebound and we've got a millennial working for yelp, that's the on-line review site, writes an open letter to her boss and says she's too poor to buy grocery. yelp promptly fires her. that's next.
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$300 million to buy can't afford to buy food. that's got to be a little ironic, right? yelp says decision to fire here was not in response to her post. ashley. ashley: yes. stuart: why did they fire her? >> probably publicly airing dirty laundry. that doesn't help. she went on to say every single one of my co-workers is struggling, taking side jobs and she implied that one employer was homeless, she was making $8.15 an hour. you took the job. stuart: she's kind of saying that see sympathizes with the young lady. >> i don't want to go all soft on everybody, but i feel for her in the sense that, you know, the tough reality for a lot of millennials in this country today is that they have to spend 80% of their inconnell on rent if they want to live in a major city and that's terrible. >> wait, wait, she chose to live in san francisco because she wanted to be near her dad.
she chose the situation. >> do we want the major cities to be exclusively for wealthy americans? >> she chose it and then she went publicly and she's fired. >> that's terrible. and she's learning an important lessons that social media is for you and against you. ashley: a bad way of going about it. stuart: we're all struggling. ashley: i was eligible for food stamps the first two jobs i took. stuart: i was a waiter. >> i've always been independent independent-- >> independently wealth any. now she tells us. thank you for being on the show. oil is up, stocks are going to go up, and tesla is higher. we'll figure that out as well. not much higher, but higher for tesla. am i wrong about the economy, i've been saying we're slowing down and maybe going to recession. warren's says we're going to get 3% growth this year. where did i go wrong. the opening bell is next and
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carolina, i think he's trending down. marco rubio is poised to be the one candidate to take on trump, but, you know, the non-trump crowd is not consolidated behind him and rubio has to win somewhere. stuart: there you go, that was fred barnes the top of the hour, we start at 9:00 each weekday morning. the opening bell has rung and trading has begun on monday morning, this is important because we're going up. we're coming off one of the best weeks for stocks in a long, long time and we're up 65 points now. ashley: i talked about it earlier, oil up 6%, stu. stuart: show me oil because that's, i think, probably pushing this market higher, 1.35, 6% up and that's why we've got a rally up almost 100 points on the dow industrials. ashley: yes. stuart: ashley is here and jo is here and todd from chicago and keith fitz is here.
keith, you first, is this a solid rebound. >> certainly solid on the day. i like to activity. it's consistent buying across the board. whether it's going to stick is entirely different issue. the data doesn't support that. stuart: todd, what do you say, solid rebound, yes or no? >> absolutely not. i think it's just another selling opportunity. if you're a trader. if you're an investor don't pay attention. if you're a trader another great opportunity to give it to them because they're out of their minds here. stuart: our viewers tune in on a monday morning off a great week and the market is going up. we've got smiles on our faces and-- >> i'm smiling. stuart: and from chicago-- let me throw this out. >> i'm smiling. stuart: throw some cold water on this, keith fitz and you, todd. listen to this. trump wins, sanders loses. is that by any chance something to do with this market rally. go ahead, keith, shoot me down. stuart: no, you know, i'm not
going to shoot you down on this one, stuart. what is happening, there's somebody who understands business versus somebody who understands spending somebody else's money. stuart: i'm glad you sort of came a little bit my way. how about you, todd, trump wins, bernie loses, market up. >> absolutely not, the market broke out, they're going higher and nothing to do with those two yolkles. nothing to do with those two guys. stuart: there's some distance here, but looking at your picture, that could be a bernie sanders button that you've got on your lapel right there. i don't know. socialism makes it appearance in chicago. >> wow. stuart: wouldn't be the first. >> oh, no, no, no, no, no. no! . [laughter] >> hey, i'm trying to have fun here the market is up on monday morning. how about oil, show me oil again, please, it's up nicely now, a buck 80. russia's energy minister says the oil output freeze is going to be a done deal by march the
1st and i'm-- you know, todd and keith fitz are hawking it this morning, go back to todd. do you believe him now, there's going to be a freeze? >> i do not believe them. and even if they freeze up here, they're freezing at limits and really, as we've said many times before, commodities are going to find a bottom and appears they did find a nice bottom. i don't want to throw water on you, 60% taxes and that's why it's sour. stuart: you heard my interview with the bernie supporter. i've got a couple of stocks moving big with the markets going up. lumber liquidators are going way down after revised centers for disease control report said that there's increased cancer risk for people exposed to some types of the company's laminate flooring. 17%. >> we're talking laminate flooring that contains
formaldehyde. regulators basically blew the last test and created a ceiling, i mean, literally a ceiling in which they measured the air. they put the ceiling too high so the concentration of the cancer causing agents in the air was less, turns out it's three times higher than the accepted standard so that's terrible news for the liquidators. stuart: 19% now, close to 20% drop, you're right getting killed. >> now look at apple. on friday, donald trump called for a boycott of apple to help break into the iphone of the terrorist in california. what is with that one, ash. ashley: he told the campaign rally, look, what i think they ought to do is boycott apple until they give the security number and said that tim cook is looking to do a big number probably to show how liberal he is. he called for a boycott and he calls for boycotts on many things, macy's when they dropped his clothing line,
remember. stuart: i do remember. >> and people as well. stuart: trump says boycott apple, any effect on sales? >> unlikely if you look at the current analysts. apple responded if you think this is a business play for us, here is our answer, tim cook saying absolutely not. nothing could be further from the truth. this has always been about our customers and they go on to say they feel strongly, if they would do what the government asked of them to create that back door, it's not only unlawful, but puts law abiding citizens at risk. stuart: i think that apple and other companies are defending their commercial interests. >> theres a he no doubt that that is partially the case because it's a central part of the product, but they're pushing back on that. stuart: a central part of the problem and they're defending that, i think they're putting company before the nation. >> that's the core of the debate right now and the core of the fight. >> did i hear todd wanted that question. >> no, that's keith, stuart.
stuart: go ahead. >> this is unbelievable to me is they would place the privacy of a terror suspect above the national security issue. i think it's great they make a stand on principle this is not the place to do it and i think it's naive. the first american city we lose on a disaster that could have been prevented because somebody had access to that data, they will be standing in line why didn't you protect us. stuart: well said, fitz. and big tech names as we keep saying where you're putting ut money. tesla is up 4%. the news there, get to it shortly. how about netflix on a monday morning, the market is virtually unchanged staying below 90. how about alibaba, they've been all over the place recently. this morning they're up a buck 24, not much of a gain, 68 on alibaba and twitter, too, all over the place and i saw them at 14, 15 last week and now 18.31 and they are unchanged. amazon.
here is some news. >> in you're not an annual member, you have to hit $49 for your order. it used to be $35 i believe and now it's been raised and you want to know why, it's very logical, of course, because it's amazon, they want to push more people to join prime and that's one of the biggest, you spend more money when you're on prime. stuart: and the market likes that, pushing people toward prime. >> it's an automatic revenue stream for amazon. stuart: how about faiks, they have -- facebook, they have a virtual reality team for social media. connect with your friends on facebook. before you launch, i've got to ask a question, if i want to relate to my friends in virtual reality on facebook, i've got to have-- >> not necessarily, of course, as you know, facebook owns
oculus and they're going to be launching the first product this year. not necessarily, the way that google does it, you insert your phone into a cardboard device and the devices will become more popular going forward, but the idea about the-- i think it's cool. i don't know, i think it's cool. i know how you feel about it. stuart: that's wearing a helmet, i'm not going to walk around with a helmet on. >> remember when-- . do you think my ratings would go up if i had a helmet like that, a show like that. >> what if we all did the show like that. stuart: would my ratings go up. >> you'd look like darth vader. stuart: what did you say, keith fitz? >> only if you looked like darth vader. stuart: do you think it's a ratings draw? moving on, caterpillar is the biggest gainer of all the dow 30 stocks. look at it, 2 1/2% up. hsbc, used to be called the hong kong of the shanghai banking orangperation.
and they're losing money and investigated by the sec. botox sales allergan up 3% higher for the stock. not much. groupon, goldman raised the stock target. fitbit, they report after the bell today. nicole come in and tell us where they are now. nicole: let's see you wear it on your wrist and feel healthy, guess what they really, really disappointed down 40% from the ipo price, down 70% from the high. today up almost 6%, 16.48 a share and everybody is waiting for the number after the bell. there's competition from apple and other wearables. stuart: i keep hearing this, that yahoo! is exploring a sale. i've been saying that for months. nicole: i know you have. but this morning, it came out again. i read it on the bloomberg terminal and it's on the news feeds and some names now are being attached to it, such as yahoo! verizon, comcast, at&t,
those could be possible bidders, as well as buyout firms that were named, capital, kkr and tpg. stuart: okay. nicole: so we're seeing yahoo! to the upside today. stuart: they struggle back to 30. look alt the big board, we've got a 190 point rally in the first ten minutes of business. i call that a rally. 16-5 is where we are. barron's, the weekend financial magazine kind of thing, it's upbeat on the u.s. economy. the magazine says, what recession? gdp set to grow 3% this year, 2016. keith, am i missing something? would you call this economy good? >> not on your life, stuart. this is how to lie with statistics. they're looking at classic models. they pay get to 3%, but ask millions of americans still out of work who don't have jobs, whose household wealth is going down, how this is a recovery, i'd like to see that.
stuart: todd, what do you say, is this a good economy? >> this economy is a horrible economy. just take a look at the payroll tax, stuart. we're paying payroll tax every year and people working are making less money. the only way we'll get the growth is if we take on the chinese accounting model and the good assets at high prices and bad assets at low prices. stuart: we hear you. todd. everybody look 11 minutes into the session, we're up close to 200 points, 16-5. more of-- hold on a second, hold on. jo. >> i'd like to say one thing, oil. stuart: that's what i was going to say, up almost $2 a barrel, that's nearly 6 1/2 coming on 7%, you're right, jo, say no more, one word, oil. ashley: wait a minute, i said it was oil this morning and you tried to tell me it was-- >> all right. back to the-- show me hillary again because more of hillary clinton's e-mails have been released.
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>> if somebody buys a dow stock, yeah, there you go, that's what we're looking for, it was up 199. if somebody bought something it would go to 200. ashley: then they sold it. stuart: and look at this, that's oil up 6 1/2-- you're right, you keep interrupting me are. ashley: i'm trying to make the point. stuart: can i say this, 31.56 on oil and giving a nice pop to
the oil companies. will you look at them go. we're talking percentage terms on exon, chevron, conoco, bp and royal dutch/shell. royal dutch/shell. those are the days. and state department released a batch of hillary's e-mails. she was not happy her vacation was interrupted by a libya meeting. ashley: they were going to have a nice vacation in the 12,000 square foot mansion in the hamptons. you're going to have to go to paris to talk about the transitional government of libya. oh, woe, if i have to. i'll go to the meeting and fly right back, to and from long island. bait w-- by the way, can we land and take off from hamptons. let's bring in judge
napolitano. it doesn't seem there's a secrecy in the e-mails, but the attitude toward the job. ashley: there is secrecy in the e-mails because the schedule of the secretary of state is a classified document. it shows you how cavalier she became at this point. in 2011, the summer of 2011, she's been secretary of state for two and a half years, she was so utterly cavalier about e-mails, she forgot that her own schedule is considered confidential, which is the lowest level of classification, because it's so easy to hack in there that someone would have known, someone who wished her and the united states ill would have known she was about to fly from west hampton, new york to paris. stuart: it's so easy to hack, if the server is in your back yard. >> precisely. it also shows a political issue and that is her unwillingness to do her job, to attempt to resolve a crisis of her own
making because she was the i am pettus -- impetus of the destruction of the gadhafi government. al qaeda and isis. stuart: look at the lefthand page of the u.s. u.s. scrambles to beat back isis in libya. >> didn't exist there when gadhafi whom tony blare and george bush called a great alley in the war on terror. he may have been a monster, but there are worse monsters and mrs. clinton's doing. stuart: i want to bring everybody up on the state of play in the e-mail scandal because the word indictment is not off the table despite hillary won in nevada. >> we're hearing chatter that the fbi wants to wrap this up and plans to do so soon. i don't know what soon means, but i will remind you that the fbi director, jim comey, back
in october, said he expected it to be wrapped up by january 15. that's more than a month ago. and since then they did get a lot of extra documents. not on the e-mail scandal, but on whether or not she, as secretary of state, did favors for foreign governments and entities that contributed to her husband's foundation. and they are examining that as well, but i think they know what they're going to do on the e-mail investigation, i'm pretty confident it's going to be a recommendation for indictment. the question is, will the justice department accept it. stuart: will the recommendation, one way or the other, be made public? >> that's a great question. the reason i'm smiling, it's not supposed to be made public. stuart: but you think it will be? >> yes, particularly if it's not honored. i think i know the personality and mentality of these very, very serious, dedicated, nonpolitical law enforcement people and this team of fbi agents that are investigating her, they cannot take it sitting down that they have amassed enough evidence to prove a felony beyond a
reasonable doubt and the politicians and the justice department are saying forget about it. stuart: got it. judge, thank you very much indeed. we'll see you in the 11:00 hour. >> absolutely. stuart: next, apple's battle with the fbi. apple wants the matter decided by congress. the fbi's top guy says he owes it to the san bernardino victims to make apple comply. full story after this. ♪ [ male announcer ] fedex® has solutions to enable global commerce that can help your company grow steadily and quickly. great job. (mandarin) ♪ cut it out. >>see you tomorrow. ♪ parnell pharmaceuticals, spotparn on nasdaq. parnell is focused on delivering innovative solutions to unmetanimal health needs in the
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>> this is the explanation for the stock market's rally. oil is straight up. that stock, that's a driller, new field exploration, that's one of the biggest gainers in the s&p 500. now, oil is up more than $2 a barrel. late news on that. ashley: it's getting a lift because the international agency says it expects u.s. shale production to decline this year and next year, and that's pushing and that means that the glut will start to come down and prices going up. stuart: oil is up over $2 a barrel and the dow is 200 points, they are related. ashley: yes. stuart: to the fight between apple and the fbi, director james comey writes, saying, they owe it to san bernardino victims and survivors to get apple to comply and open up the shooter's iphone. lt. colonel ralph peters is here. ralph, this is straight forward security versus privacy. whose side are you on?
>> i'm unquestionably on the side of the fbi. apple and tim cook are behaving villainously, stuart, over the last several days i've heard the political and technical and legal arguments. that object-- it should be doing everything in its power to help prevent further attacks. instead, in support of his business model, tim cook has taken the position that terrorist groups, mafia, cartels, have the right to secure communications and saying we're protecting the security of the american people and their information. meanwhile, he's allied with tech firms like google and facebook, that are the real compilers of data on all of us. government. i was in intelligence.
the u.s. government does not collect information on law abiding citizens, but, boy, i tell you google does and facebook does. this is so honest and profoundly wrong that words fail me. stuart: if this he get into the shooter's iphone at some point and they find, for example, another plot going forward, apple looks terrible because they would have put their own commercial interests in advance of life and death issues in america. >> they have already done so. they have already done so. look, stuart, let's put it in perspective. we would never let northrop grumman or look heed martin sell a squadron of war planes to terrorists and yet these unbreakable communications that apple is selling to anyone, including many terrorists and criminal, ultimately do more damage, pose a greater threat than a squadron of f-16's or f-18's would.
this is a toxic product, it has to be treated as toxic. tim cook wants congress to look into it. in the long-term, yes, short-term, no because he's obfuscating. the congress will have to decide what we'll do with unbreakable encryption. we cannot allow a weapon of this nature. an information weapon of this power to be in the hand of terrorists and drug cartels. we can't. stuart: you know why you're popular because you've got a clean cut, straight forward opinion and everybody knows exactly what you're saying. well done, ralph, we appreciate that. >> thank you, stuart. stuart: we'll see you soon. and donald trump in south carolina, i say the republican establishment lost in south carolina and maybe elsewhere, flat-out lost. a new hillary clinton e-mail uncovered, she was not happy about leaving her vacation in the hamptons to do her job as secretary of state. we're covering it all. "varney & company," hour two, begins in two minutes. pet moments are beautiful, unless you have allergies.
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stuart: a half hour into trading session and we like what we see, the dow was up 200 and oil is donna almost 7 point surge. stocks are up. this is an up-so far. tell us, there is a winner, 4% gain for telecom of 5%, we have a big loser, lumber liquidators down big, the cdc warned the cancer risk from some of its flooring. let's get to politics. donald trump keeps on rolling. the republican establishment is did. hillary clinton wins in nevada. and new female shows she did not want to be her hampton vacation to attend a meeting on libya. now and isis hot bed. we have the book unlikable about hillary. here it comes. hour two. ♪
stuart: don't you love it? green arrows, solid rebound after a big week last week. oil stocks are up, the dow is up 200. i think oil and stocks are in tandem. will you give me a hard time? cheryl: 40 stocks, 40 energy stocks, the s&p, are up. because the u.s. energy department is saying it will continue to be in decline this year and next. that could put pressure on supplies and production. stuart: the russian oil minister says the freeze among oil producers. ashley: getting close to that freeze but is at record levels. stuart: add it up and you have oil up 7%, that is a huge number. lumber liquidators, stock is getting crushed today. last time we checked it is down 20%, now but it is down --
ashley: is worse. it turns out they did some tests on their leninist flooring and tested for formaldehyde. turns out the investigators. the testing. they have this ceiling too high. when you measured the air around the floor, they have the ceiling up here, less contaminants in the air. it turns out the cancer causing agent is three times higher with this together flooring than acceptable standards. the of that we see it on the stock. stuart: here's the store that reprise you. bank of america is going to offer mortgages with just 3% down, no mortgage insurance. what is this about? liz: at age a mortgage insurance, end run around and, banks are leading a government. there have been a lot of lines bank of america $800 million,
they say forget it will cut out the federal housing administration cut that is the middleman and set up our 3% downpayment loans with mortgage insurance offered by freddie mac non-profit fund. inside joke for the building is we treat the budget line item at the justice department at rehousing agencies, weed mark -- not work with the government any more. it is not -- median in, similar credit score is a little tighter, we have seen many taken out of them. in the governing agency budget is not rigid ford vix. enough is enough, we're on our coin. stuart: 3% down give you a mortgage and insurance from freddie mac.
that is the deal. no.about that. publix please donald trump polls in south korea, jeb drops out key publican establishment is did is dying on the vine. i hate to be pejorative but i think of u.s. establish and religion. >> you always that. i know both worlds is the anti-establishment world anti-establishment world but i love how dramatic are that the establishment is dead. the establishment be in trouble, in pretty deep trouble right now because i can is a catch-up game for the establishment. against 4 months since the only attacking donald trump and jeb bush now that factor is gone so who's going to take up the baton, the anti trump baton is a year ago. i am the one that has to go directly against donald trump?
you are seeing ted cruz and marco rubio aren't that will they have to spend up especially among the a because right now what we are seeing is a endorsement and the big money on the establishment at all king at marco rubio as their standard bearer. "cavuto coast to coast" now the democrats, hillary clinton beat benders' 5 points 8 huge win. does that lout-session to be asking you because you are a democrat. >> i try to stay abreast of going on in these issues. on the democrats side, it was critical in for hill clinton because there was a sense was going to be able to in western aid where we bernie came in late in the in nevada, had been there a long time. she was up by 20s, she is
thinking in a vat as she won $0.70 of the african american the, that was critical for her because bernie needs to play catch-up in the minority community, the minority community played a critical role in southern states which gives hillary the advantage. and up by superdelegates as well. we are looking at this political revolution, feel the burn movement by bernie, she has released of his momentum right now. stuart: i think you would rather talk about the establishment winning among the democrats than losing among republicans. i got those vibes.
supertuesday. and african-american population voting in the primary is absolutely critical for her and quite frankly -- stuart: when you have to have a big turnout in nevada. i believe i saw someone down 20% from the last democrat. >> it was down so south carolina, hillary show she could win it. a lot of people thoughting elec
time and you do too. more agreement. thank you very much indeed. how about this? ben and jerry's, the founders, the ice-cream company, they are bernie sanders supporters, ben cohen, is a joint maria this morning on the fox business network. >> it is the marginal tax rate. of to a certain amount 15%. and only seeing your highest rate. and making over $300,000, $1 million. it is not 92% of the entire income. maria: are you prepared to pay it? >> if that is what everyone else is paying a i am happy to do it. stuart: i feel so much better. they are only going to take 90% of my in, every dollar i make over what i make now. i feel so much better.
do you? gerri: this is an entrepreneur willing to give all away and he is wrong on one fact. the top income level, 39.6% goes into effect at income levels of $406,000. we have a progressive tax income, people who make lots of money, the vast majority of those earnings are taxed at the top tax rate. bernie wants 92%. why work? stuart: why would you? i blew a gasket and the 9:00 hour when a young lady suggested i should be paying more than the 60% tax. >> this diss incentivizes anybody who has a good idea from getting out and pursuing. ben and jerry, these are not rock scientists about capitalism. they grew this that this company and he is saying i don't care. liz: you have reported on it, 60% of u.s. households according
to the cbo get more in government benefits versus what they pay into the system. stuart: ben and jerry built a great deal of wealth, the wealth they accumulated is not taxed. income is what they want. >> until they die, death tax, big bite. stuart: if you accumulated wealth, you borrow from the bank against that wealth, you don't sell stocks to make capital gains. you just borrow from the bank and deduct interest on the loan you get from the bank can use your wealth and security. i am done with this. gerri: you are so good. stuart: a great day, the dow was up 200. the dow was up 200 points at 16,600 is where we are led by these stocks, caterpillar, united, intel, chevron, microsoft is up 2%.
stuart: 16,600, almost on the nose, 200 point gain on monday morning. how about that sea of green? the dow 30 is indeed at sea of green, not a single loser of all the dow stocks and this is why. primarily, nothing to do with the election results, it is the price of oil, it is up close on 7%, 6.6%, 3160, up 2 bucks, stocks are up this morning, that is mostly -- coming up saturday and's victory in nevada hillary clinton wants to convince people
she is trust worthy. watch this. >> i understand voters have questions. i will do my best to answer them, there is an underlying question in the back of people's mines and that is is she in it for us or for herself? that is the question people are trying to sort through. i am going to demonstrate that i have always been the same person fighting for the same values, fighting to make a real difference in people's lives. long before i was ever elected office, even before my husband was in the presidency, i know that i have to make my case. stuart: it was a link restatement but with me look who's here, ed klein is the author of unlikable:the problem with hillary. did she move the indeed one her likability with that statement? >> reminds me of when roger mudd interviewed kid kennedy. he said why do you want to be
president? did kennedy couldn't answer the question. that was the end of ted kennedy. she is 40 years later, at the rate clinton in her career, she says i have to make my case. she hasn't made her case that to now? stuart: you wrote the book unlikable. do you think her recent performance makes her more likable? >> i don't think it has any bearing on it at all because i think her rating is still way up there in the 60%. stuart: that is a personal thing, she is unlikable is different from saying she is not trust worthy. there is a difference in content. >> that is a small matter i think. that is a little different than unlikable but if you are untrustworthy you are not very likable. stuart: i don't want to get too much on this but she was shown coughing almost uncontrollably. don't think we need an
explanation for this but your theory that she is not well. >> i checked into that because i thought you might ask this question. i talked to some people around her and they say hillary is recharged. they have never seen her in recent weeks as healthy as she looks today. that is not saying she doesn't have health problems but she is recharged, looking better and she smells victory and this is giving her a lot of energy. stuart: that is understandable. if you have been down and suddenly -- it might be possible to be reinvigorated. >> that is happening. stuart: how about the newly released e-mail the shows she is not happy when she was asked to leave a vacation in the hamptons to go to a meeting on libya in paris. this is the e-mail she wrote, quote, oh whoa, if i have to lie will fly at night, go to meeting and fly right back to and from
long island which can our plane land and take off from west africa? that is not good news. >> nobody has been more critical of hillary than i. but aren't we nitpicking. little bit? she is secretary of state, knocking herself out. let me say this. stuart: backtracking so fast. she is recharged after the coughing fit, now is not that bad she wants to go to libya. >> she has a $30,000 home she just granted and she is about to go there and they say off to libya please. we all would say oh please give me a break. what was she supposed to take? the hampton -- stuart: when you are softening up. a hammer for clinton. what is the next book called? recharging for victory? >> we will see about that.
stuart: thank you as always. look at the energy stocks. oil is up and energy stocks are truly surging. look at that, 6%. look at that. that is the rally. apple does not want help to -- the problem here with apple. the fbi says we want you to unlock that iphone used by the san bernardino shooter. apple says we are not going to do it. we don't want to do it. we are going to go to congress to see if they can fix this problem. we will have more on that in just a moment.
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bernardino victims to get apple to unlock the shooters's iphone. what is this about google end and android phone? will google and latka android phone in the same situation? >> what is lost in this debate is terrorists could be planning a bigger attack. was owned by the san bernardino health department. and the fbi is saying you keep custody of that software. we just want you to keep custody of the software and help us unlock the phone which you are doing through last year any way in other cases. google's phones are leaky as the summer screen door. lost in what is going on is is there another attack in the works?
wood appleby unlocking the phone if 14 of its own workers, or if there was assassination plot against the president, would appleby responding the same way? stuart: we don't know. we want to know and we should be able to know because they are terrorists. liz: the president that apple creates software to get to the phone but those loans were not included as of a couple years ago. stuart: john mcafee, internet security guy says he could crack apple's iphone for the fbi for free. he is on the show at 11:15 today, look at the big board, solid way to start the week, looks like the oil rally is behind the stock rally. i suggest it may be the trump win and bernie loss. totally shot down on that, no connection to politics, they say. in south carolina a big win for trump and the republican establishment looks like they
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>> a fine contribution did look at this. check the big board. 201 points to be precise. that is what is leading this market. 7% there. $2.11. london liquidators, we are down. this is a long running story. this weekend, weekend headlined from the "wall street journal," the u.s. economy is in good shape. barron says what recession. gdp set to grow. steve moore is with me. i thought we were really going down.
a possibility later this year. 3% growth. what do you say? >> we have had the same line on this since the beginning of the year. i am a little less concerned. the last thing i want to see is a recession, obviously. three factors that will prevent that from happening. the rest of the world was growing so slowly. they are just not happening right now because of slow global demand. a holding pattern. they are waiting to see what happens with this election. they are listening to what bernie sanders and hillary clinton are saying.
they are nervous out there. i do not see 3% growth. stuart: 9:00 o'clock. suggesting that maybe today's stock market rally has something to do with trump and more importantly bernie's loss. [laughter] i am with you. i think that you are exactly right. the sanders surge was real. democrats will do whatever they can to prevent bernie sanders from being their nominee. it is looking less and less lately. >> you are right. investors are listening to what these politicians are saying. they have not liked it a lot.
>> people were terrified that this country was going to elect the socialists. i want to make this point. the reason i think there is a little too much exuberance here is that hillary is just a half a step behind him. are you listening to what hillary is saying? she watched trillions of dollars. i do not see that big of a difference between the two, rhetorically. >> here we go. i am just saying, look. do you disagree with me? she is saying, me too. using bernie's lines now. giving speeches at goldman sachs. , on.
>> having to move way to the right before i would be happy as an investor. steve moore, monday morning, thank you very much indeed, sir. saturday's south carolina republican primary. 737,000 republican votes counted did that is up 20%. joining me now from columbia. one of my themes today, among republicans, the establishment just died. would you agree with me? >> it depends on the notion. holding office as former senators. he won by 10 points.
he is obviously an outsider. you cannot say that he is establishment. out there according to some. to the rest of the field, it would be rubio, k sick and ben carson did they do not have that much support. even taken together. >> this is a butter driven process. a record turnout. 20% increase since 2012. 20% increase in iowa and new hampshire. it is a voter driven process now. stuart: would you support donald
trump if he were the nominee? >> i think the whole party would. i do not see why not. if the voters chose that many. thank you very much. taking time out. stuart: the sector report. checked the big board first of all. up 200 points. that follows a great week last week. market watch are with me right now. i am calling this a fairly solid rebound. >> think about what happened. you will bring in buyers. that is what we are seeing they are very much like american companies. southwest airlines.
jet fuel costs are down 4.2. they are double dipping in our expense. we are investors. they are cash flow. they are earnings. at least 10%. trading at less than 10% cash flow. you just run that screen on the s&p 500. >> it is just math. you take stock prices down cheap enough. same story in junk bonds. so much fear in the energy sector. one fifth of every energy company in america. it is too far. that is all we are doing. i have not heard that. >> we are buying cars.
general motors has gotten the house back in order. if pay back that money. it is a company that is growing at 50-20%. trading out five-time earnings. they took our money. five times earnings, i will buy it. >> i have a lot of people recommended industrial type companies. certainly, general motors. you like whirlpool as well. >> i know. stuart: they are washing machines. >> s&p 500. companies growing at least 10%. trading lower than 10 times earnings. it has all been all about technology and biotech. maybe it is the industrials.
by the way, by the u.s. dollar as well. these boring old industrial american stocks. bring them back. >> we are all queuing up in record numbers to vote. people are passionate about this. it is not going into recession. goodbye america. >> good stuff. thank you, sir. donald trump says that he will be a better president than president obama was. you will hear that after this. ♪ thousands of hours of painstaking craftsmanship. and an infinite reserve of patience... ...to create a vehicle that looks, drives and thinks like nothing else on the road. the all-new glc. the suv the world has been waiting for. starting at $38,950.
i think that it is going to go down. now, this. new york yankees. making it harder to score tickets on cell pub. >> now you can only use the mobile ones on your phone. coming through the yankees take it it's change. they are controlling the prices on stuff of. yankees said no. they are not going to allow that anymore. stuart: wait a minute. i am told that they gave you said we do not want our people to pay $1500 for tickets. $50 for the same ticket because they got it from stub of. >> it is about money. they want the revenue. this is what the yankees have always done. that is why i am a mets fan.
they price their market hype. they give the regular guy a chance. >> why should the gain keys, they own the team, they own the ticket, they own the seat, why should they not get maximum dollar that they should publicly get. >> we have to be honest about why they are doing this. they have done this before. let them make it. we build a team. >> you are losing so far on this one. donald trump has been openly criticizing not doing enough to help the black voters that put him in office. >> if i were african-american, i would be so angry at him. african-american people that are prime time 25-40, have such a
high unemployment rate, you would not believe it. i will do more for the african-american people dan barack obama has ever done. >> i will do more for the american people than barack obama has ever done. >> the economic security of america. by and large, it will benefit the community. he should have done better for the american economy. donald trump is talking about fixing our trade down. rising tides. yes, we need good policies. republicans over the years have played against the democrats. the spiraling issues with that said. playing with our money. not having policy.
you name it. >> in a national election. trump was a candidate for the presidency. do you think that there would be a shift? do you think that that would happen? >> there is already a shift. the shift is based, and you and i have discussed this over the years, they began to buy homes. out of the urban environment. now they are going back. you are not buying eight condo in harlem or somewhere unless you have money. donald trump is talking about the kids. they want a job. they want a career. suddenly, there is no market. that is all blacks as a whole.
b mac are they going to go for the candidate that says i have an expanding economy for you. will they go for the candidate that says it is those rotten billionaires. >> no. i will be blunt about it. some are that dumb mac about it. they cannot answer the question about who pays for it. to take the black community is also wrong. do not take advantage of them. realize that they have the same concerns. how do i get my kids a better future. >> okay. >> we can have a better vision for our future. stuart: you redeemed yourself. [laughter] brown university.
about all the social activism on campus. an emotional toll on them. i like the sound of this. all this left us nonsense. there is a pushback. >> a story that appears on the campus newspaper. social activism cause migrates to drop. my health is declining. i am failing classes. college tuition is so high. those parents are paying tuition. irony here. protest said, nine years at a soviet prison camp. this whole pushback is happening right now. the students are revealing themselves. we get justice.
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>> i am i am peter barnes enabling the las vegas, nevada. most of the candidates are out here in nevada campaigning today. donald trump made a stop in atlanta georgia on his way out here last night. made a new pitch to voters. >> the only category i do bad in is my personality. you know what, i am a better person than the people i am running against. >> trump still in the lead. a second place battle. they are duking it out with each
other and with trump. ted cruz saying the results on the south carolina caucus showed that he is tapping out with his support at the present which gives him an opening. now, back to stuart in new york. >> the republican establishment lost in south carolina. the democrat establishment one in nevada. that is about right. a solid win ford donald trump. personified the establishment. hours after his disappointing finish. donald trump, the outsider going in strong. it is the establishment candidate hillary clinton that is looking strong. that is not a huge win.
all the people and those that call themselves democrats, voted for them. bernie, that outsider, the socialist lost his momentum. this is fascinating. do you think stability? experience? they are supposed to be the old. keeping things steady. it is a republican department that has turned on its own establishment. it is now the democrats that are edging back towards their establishment. usually, the insurgents. but now, they are anxiously defeating the status quo. of coarse, this analysis may not end up being world change. as of now, it is the republicans that are looking for change.
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>> 90 minutes into the trading session. look at us now. up 187 points. why? the price of oil is going straight up. 3150. that helps stocks. all 30 of the dow stocks. one unchanged. one down. ibm. energy stocks. really falling because of the price of oil coming straight of. here is my theory. the market is up in part because bernie sanders, the socialist, lost totally. charles: you would love that, when it you.
>> the market is not feeling the burn. >> no, it is not. it is all about oil. speak to a breaking story. the health insurer. very big and obamacare. plans to reduce what it pays doctors because last year it lost a half billion dollars on obama care plans. our go to prison on obamacare. she is on the phone. she joins us now. war health insurance. reducing payments to various sectors. >> doing everything they can to try to stay afloat with all the losses. this is just one more. they will not be able to participate these losses. >> how will doctors react to
this. a lot of them say we are not getting paid enough anyway. now we will get paid less by one of these major insurers. >> some of them are not participating in the plans in the first place. they have much higher costs. particularly, the investment they have to make in new it services. so they can properly record their encounters. they are so marginal list. they are billing these rates. if these physicians were to sell their practices to a hospital, they could build for the same office space procedure. sometimes three or four or more times. they are not inspected. this is not going to say the
system in the long win any money. stuart: grace marie turner. a very important development and obamacare. straightforward to politics. second to primary this week. it is what he said about act a more presidential. world tape. >> i can act as presidential as anybody that has ever been president. i think that i will be very presidential at the appropriate time. right now, i am fighting for my life. >> trumps spokesperson. come on now. >> does this mean that your guy, donald trump will not drop any more after bombs? >> absolutely. he actually alluded to that in weeks prior. talking about his supporters.
very much across the kitchen table. a lot of people get a little taken back i that. those two, he is right. he is this person. stuart: does he say or do you say? you just have to bring it in a little bit. you know, i have to nevada find. that is exactly how he is. you see that a lot on the campaign trail. it comes across to a lot of people as not appropriate. voters appreciate that. he talks about being more presidential later on.
i will remind you, he does not have super pack adds. he does not have a team tried to assassinate other characters. >> he no longer makes a wonderful headlines every single day of the week. a development of disappointment if he does not come across as donald trump. >> you are absolutely right. you know what, here is a perfect example. there is a disappointing element there. we have a lively debate. you really have to make up your mind. mr. trump has never been a politician before. this is his first run. he is learning that balance. >> i do not think that this election would be so fascinating to so many people if it were not for donald trump.
>> you see an agreement. just promise, no more after bombs. >> he never said that word, either. definitely pay more attention. >> i and my children and grandchildren -- [laughter] we're out of time. thank you so much. >> great to be here. thank you. stuart: a former speaker of the house in florida. he is with me. before we go on to my question which is is that establishment in the republican party dead, before we get there, would you welcome donald trump? >> it would be nice if donald trump would be presidential for the first time in this race. stuart: you do not like him, do you. >> he represents an entertainer
trying to become a politician did he is a self promoter. i am not in establishment guy. i am someone that has served before. in establishment is someone who has served their country with dignity and honor. the best indicator is what they did in the past. marco rubio. i was a jeb bush person until he just got out of the race. marco rubio is 44 years old. a new face for the republican party. stuart: i do agree with you. i do not think that you can put marco rubio firmly into the establishment can't. he is not extreme. he has a nice family. you know, in that sense, he is establishment did i would not go too far in putting that label
around. >> he is a conservative. the candidates really in the race are very divisive did they try to scare voters into voting for them. do i want to vote f someone that will scare me into voting for someone? i think that that is what he is trying to do. optimistic about the future of the country. stuart: florida is a very important state. do you think that rubio would take florida if he you were up against, say, hillary? marco rubio would wipe the hisp. can he take california? >> i do not want to get ahead of myself. marco rubio would beat hillary clinton.
>> okay. i am pleased to hear you talk about california like that. you are younger than i. i do not believe it will be in your lifetime. you will never see the republicans when in the state of california. >> i agree with that. california has a long way to go. florida does not. thank you very much for joining us. look at the markets, please. we are up 184. had been up 200. come on in. market watcher. you say the market is being driven by fear right now. explain that. >> there are always two factors when it comes to the market. it is more fear and greed. some of that is due to the fact that we really have more of an active for coverage then we have
a true economic recovery. people sometimes have fear that sets in. they sometimes make it a rational decision. stuart: i noticed that some of the stocks that you are recommending on the program today are what i would call old-line companies. not necessarily industrial companies. as opposed to making the running in the last couple of years. for example, if you like mcdonald's at the moment. even though it is close to a high. why do you like it so much? >> they are still growing. still opening up restaurants in asia. they beat their expectations for earnings. sitting at a nice 2.8 dividend payout right now.
they had a really good run with their product best program. stuart: you like procter & gamble. there is a name from the past. you like them. why? >> again, last year, they beat their estimates first-quarter. i really like the fact that they are being very if. they are studying costs. they're refocusing themselves on products that are making the money and margins. i think going forward, they are doing really well. they are sitting on a dividend. another stock that would withstand any volatility. stuart: this is fascinating. you are recommending the names
that we have not heard mentioned by any market watchers in the recent past. thank you very much for joining us. come again soon. >> thank you for having me. >> then we have apple. he is the security guide. he says he can break into that phone by himself. why haven't you done this? we cannot forget about this rally. more varney in a moment. ♪ pet moments are beautiful, unless you have allergies.
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liz: essentially saying we want to make loans to low interest buyers. we do not want to do fha loans anymore. they have been penalizing us. it is not being used to make loans for the little guy. >> 30% down. you still have to show that you can pay the monthly. >> correct. >> it is not returning. going outside the government to do it. i have to say, what is wrong with that? you have insurance from freddie mac. >> so far that fha is silent. >> here is something interesting. john mcafee. he is the guy for making security software.
his name is attached to it. he can hack into the san bernardino's shooters iphone. good to see you again, sir. >> this is my first live interview with fox since it i went on neil cavuto, lit a cigarette -- i was just in a funny mood that day. stuart: you are live right now. watch out. >> i will behave. >> you can meet this challenge. you can get into the san bernardino's iphone. it would take about three weeks and you can do it for free. why have you not done it yourself? >> i do not have access to the phone, four number one. let me give you some background. the problem is, the fbi is
asking apple to do something. it is like putting it in a back door. the government says that this is not a back door. even though i read the federal complaint and the federal judges orders saying apple must comply with the fbi to get into encryption. it is a back door. once they have that, they can access any buddies phone. any encrypted message. stuart: wait a second. if you were given the phone, access to the phone in question, you say that you can do it? the fbi has the phone. why do you think that you could do it? >> stuart, the fbi is made up of the government. the government tech allergy is 20 years behind the rest of the
world. the best computers available. >> they do. it requires the best people to run. no one was ever fired. no one. what happens is that technologists between the government has not checked up with the changing times. they need to get rid of the entire technological staff within the government and replace them. >> you have access to the phone. you say it would take you three weeks to get into the phone. if you get into it, does that give you access to other phones as well? >> no. not at all. i am not writing a new piece of software. they are asking apple to write a
new system for it. i will take it apart and look at it and figure it out. just from that one phone. it will do nothing for any other phones. >> they are government and you are not. that is not a strong argument here. >> i think that it is a very strong argument. seriously. look at what our government has done. the fbi. it self, was hacked into this month by a 15-year-old boy. walked off with every personnel record including undercover agent in the fbi. they are behind the times. hacking, stuart, is not something that you can learn. mathematicians who can multiply to 100 digits in the had
instantly. >> it is very intriguing. thank you for not pointing out some underwear. >> i will behave. john mcafee. thank you very much indeed, sir. we will see you again soon. 200 points as we speak. rally in on the price of oil. 192. look at that. green arrows all around. look at oil. also, i am saying, take no. bernie sanders. there is an election playing out in europe. democratic socialism does not work. my take on that next.
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rally. almost two hours into the trading session. why is that? largely, the price of oil is up six and a half percent. bernie sanders says he is a democratic socialist. he wants to make america more like europe. democratic socialists have ruled the roost. it is falling apart. democratic socialism is to blame. forest johnson. a popular conservative which is the mayor of london. britain should leave the union. a concession or two from europe. not good enough. he wants out totally. why? democratic socialism has reduced europe. europe is at the end of the road. it simply cannot cope with an aging population and a massive
influx. there is another issue, too. why should socialists and belgium tell english men which laws they can pass in britain's parliament. take note. deep down, america does not care for socialism. they do not want this so cited to become a vast dmv. they absolutely do not want the trillions of extra debt that bernie would pile on with his free stuff for everyone. they do not want america to give away even the slightest amount of sovereignty, even to sweden. my answer is it does not mean that much. i think that there is a more important question about europe's breakup. what does it tell us? a lot.
nearly 7%, over $2. >> that's $100 for a dollar of oil -- 100 points for every dollar. stuart: oil goes up a buck, dow goes up 100. what a correlation. have we got it right, or what? [laughter] back to that developing story, this is serious stuff. health insurer highmark says it plans to reduce what it pays to doctors, and it's all because of obamacare. dr. marc siegel is here. what are you going to do about this? >> i'm going to do exactly what doctors in pennsylvania should do, run for the hills. are you kidding me? i already have a problem with high deductibles on these plans, patients that don't want to pay out of pocket. narrow network with obamacare plans meaning there are no other doctors taking you to begin with. now i'm being told i'm going to pay less because the insurance company is taking a hit? thank god they're at least covering sick patients. i thought the scam was that
young people were going to be looped into this, signing up for something they don't need, and that would pay the bills of the insurance company. instead, insurance companies are now running in the red. sorry if i don't feel sorry for them. they're waiting for $221 million from the administration, by the way, to help shore up -- stuart: wait a second, highmark which is cutting payments by 5%, they say they lost a half billion dollars on these obamacare plans last year alone. is that -- >> and united health care may stop taking obamacare altogether. that may be a hugely big headline we have to do next week. i'm just saying, you can't penalize doctors for this, stewart, because we're already run anything the red physicians with all of this red tape we have to do. the amount you have to do to practice medicine these days, and i don't want you to feel sorry for me. stuart: i don't. >> i still love it, but they can't rely on my heart to keep me in medicine.
stuart: i feel sorry for the whole health care system which is under permanent attack from the lawyers. that's what really gets under my skin. >> and the politicians. stuart: well, if the politicians are supported by the lawyers -- >> yes. stuart: -- who are going after doctors all the time. i mean, they turned your patients into enemies, potential litigants. that's what happens, isn't it? >> because they come into the office, they say, look, my premium's going up, you don't have an orthopedist to send me to, an bobs tradition to send me -- obstetrician to send me too, i need my attar roll -- stuart: why do you pick on adderall and valium? >> they take a lot of time for doctors to prescribe, and only psychiatrists should be prescribing them. primary care doctors end up doing it -- stuart: i won't see you next week went somebody else --
>> united health care is coming next. stuart: back to politics. we're comfortable, that's our comfort zone. donald trump, big win in south carolina. by the way, he received 33% of the evangelical vote. how about that? >> that's a lot. stuart: donald trump. ralph reid is with us, welcome back to the program. always good to see you. >> good to be with you, stuart. stuart: can you explain this one? donald trump uses profane and vulgar language in public, he calls a former president a liar, he goes after jeb bush's mom, and generally behaves like a guy who's not going to be that attractive to evangelicals. so how how come he won a third f the evangelical vote? >> well, because he's also said he's pro-life, he's for traditional, natural marriage, he says that he's strongly for the state of israel, he says that he's for religious liberty. he talks about the genocide that is being practiced against
christians not only by isis and the caliphate that it's building in syria and iraq, but by other radical islamic organizations throughout the world. correctly pointing out that we haven't seen this kind of violence against christians since the medieval period. so, you know, i think what you're seeing is he's getting about a third of that vote. stuart: yes, he is. >> that's about the same share, by the way, stuart, that romney got in 2012 -- stuart: yep. >> -- it's about the same share that mccain got this '08. it's enough for a front runner to secure the nomination unless and until this gets down to a binary choice. stuart: do you think we need a new definition of who is an evangelical? it seems like sometimes all those who say i am a practicing christian, you just lump them in as an evangelical. that's not strictly accurate though is it, ralph? >> no, it didn't, and i think this is a teachable moment for observers and practitioners of
politics to understand, first of all, that the community is very diverse, secondly, that they're fully embedded and e integrated into the economic, cultural and social life of our nation. they're business owners, they're job creators, they're entrepreneur. they're people who are involved in education and in cultural activities. and finally -- and this is the most important thing, i think, stuart -- people like me who have been organizing this community politically for decades have known it for a long time, but others have not. there has been this myth that evangelicals and faithful catholics are single-issue voters, that they vote singularly on an issue like, say, gay rights or abortion. not true. if you surveyed those voters, their number one issue is jobs and the economy. they are pro-life, they are culturally conservative, but they care about jobs, the economy, health care, education. and that's been largely missed
and the way south carolina played out i think demonstrated it. stuart: you are absolutely right, ralph, and and thank you very much for pointing that out, because it often goes unreported, uncommented on. ralph reid, everyone. fine stuff. thank you very much for joining us. we appreciate it. thank you. >> thank you, stewart. stuart: now something completely different. the founders of ice cream company ben and jerry's appeared on mornings with maria today, coming out in support of bernie sanders. gerri willis is here. now, maria challenged them for supporting bernie sanders. tell me how it went. >> well, there weren't a lot of answers there. let's listen to the sound. i want you to hear this, it's good stuff. stuart: please. maria: so 92% of whatever's above $250,000 or $300,000, are you prepared to pay it? >> if that's what everybody else is paying, i'm more than happy to do it. maria: what do you think the highest rate how can? should be? >> i mean, i'm not an economist -- maria: yeah, but these are
really important questions. when you're supporting bernie sanders and his ideas are as aggressive as they are, it's very important to make sure our viewers understand what they're talking about. so i just want to make sure that you are understanding where we are in terms of -- so what do you think the highest tax rate should be? >> boy, as i said, i'm not an economist. i don't think anybody right now can say what that's going to be. stuart: thank you for that -- >> all right, so there you have it, no idea what he thinks that the real rate of tax, federal taxation on income should be. i have to tell you, adam smith is rolling over in his grave right now. here's a guy who was a capitalist, made a lot of money. can i just ask you this question, why is it when people get older, they want to shut the door behind them? george soros, others, right? stuart: i am old. i am of a certain age. [laughter] i am not shutting the door behind me. i've ranted -- and i've done it on in this program this
morning -- i rant and rave the idea that i should pay even more in taxes on top of the 60% i already pay. >> ridiculous. 92% is what they want that top level to be. there's been an analysis of this tax regime, what would it do to gdp? it would reduce it 9.5% over ten years. >> wow. >> that's the impact. that's why you should say this is a really stupid idea. >> ben and jerry's, they're just there, they have no idea -- >> i like how they say we're not economists, but we're going to weigh in anyway -- stuart: wait a minute, we have a youngster with us. kirsten hagland is her name. a lot of bernie sanders' support comes from millennials like yourself. >> yeah. but not me. [laughter] stuart: i understand that. >> just to make that clear. stuart: doesn't anybody understand economics here? >> sadly, no. i really think that's what's going on here. there's a lot of inspiring ideas, and he has clearly painted a vision for what he wants. but young people as well as those two founders of ben and
jerry's don't understand when it comes to specifics how he is going to pay for all these policies. and what's fascinating to me is i get young people, they didn't see socialism in action like so many other people did throughout the 20th century. but those ben and jerry's founders did. [laughter] they did see it in action, so i don't know where they're coming from. and honestly, i cannot for the life of me understand why the two people who have given us hundreds of flavors of amazing ice cream will support bernie sanders who says there shouldn't be 30 kinds of deodorant in the grocery store. they built a brand on choices and diversity of flavors. they should understand the free market economy perfectly well. [laughter] stuart: young people, you're in college or just out of college, you're not paying bigtime tax yet. >> right. stuart: unless you're out of college and make a fortune -- >> unless you're mark zuckerberg. stuart: you don't understand paying taxes yet. >> no, you don't. the only thing you understand paying is student loan debt, that's the only thing in your mind, and that's exactly what
bernie sanders is talking about. he's not talking about how we got there in the first place, so he's not giving any specifics. he's just talking about the issues that they're currently caring about. now, a lot of studies have been done about millennials and say as millennials get older, they are going to grow more conservative. i mean, they're still by and large more democratic, but they're going to get more conservative. and i think if you see his policies enacted by a very liberal congress, you'll see a lot of millennials as they age starting to say, hey, wait a minute, and going in the other direction. stuart: my late father made the mistake when i said to him, i pay far too much in tax -- >> yeah? stuart: you know what he said? you should be happy that you're making all this money. [laughter] >> and working for the government. stuart: he was a wonderful father. he shouldn't have said that. [laughter] last word to you, ten seconds. do you want to hammer the table on something. >> i just want to say that a lot of people bash millennials and think that they're stupid, they're enlightened and all they care about is free lunch, but i want to say give them credit,
they've gone through a lot. they're very cynical of the system. they came of age during the great recession, and i think we can have on optimism in the next 10-20 -- stuart: stand for congress, why don't you. >> no, i feel like you can have a lot more change talking about issues and rallying my fellow millennials. stuart: can't forget about the market. we do have a rally on our hands this monday morning. look at that. actually, these are the dow winners. unitedhealth, intel, chevron, caterpillar. nice stuff. dow's up 200. also, hillary clinton wins the african-american vote in nevada. could pave the way for more victories in the south. yeah, probably. more "varney" in a moment. ♪ ♪
♪ ♪ >> let's take a look at the big board for you, the dow trading up triple digits, it has since the opening bell with, up 200 points. check the price of oil, the russians saying a deal to freeze output will be done by march 1st, that's lending support to the oil market. also the u.s. oil patch in decline. take a look at the leaders on the dow for you, unitedhealth, caterpillar, microsoft, intel and chevron all moving up nicely, all up 2-3%.
take a look at dean foods, they say slowing sales of milk are actually hurting the bottom line. that stock down nearly $1.50. and check goldman sachs, a big legal bill hurting them quarter. expenses of up to $5.3 billion in excess of what it had set aside. that's the very latest from the markets for you. that's the fox business report, more "varney" right after this.
why snot it's monday morning, and the dow's up triple digits. why is it up like this? look at this, price of oil is up, a 7% gain. they're in lock step still, and we kind of like it. back to politics, hillary clinton won the nevada caucus this weekend. a lot of her support came from african-american voters. congressman hakim jeffreys of new york is with us today. democrat, i take it? >> yes, sir. stuart: and you have endorsed hillary? >> i have, proudly. stuart: are you a little worried that if the support of african-americans is vital to her getting the nomination, that will be seen in a broader context as overdependent on one group? >> not necessarily. i think the country has moved forward. at one point in time, decades ago, perhaps that would have been seen as problematic. i certainly think that that was the case in terms of the 1980s. but if you think about the situation, african-americans are very important, instrumental to the coalition that helped to elect barack obama.
he not only was elected, but he was reelected. i think if the african-american community continues to stand behind hillary clinton, she'll still be in a good position to win the general election in november. stuart: flexing political muscle, why not? >> absolutely. that's the american way. stuart: right. now, i have to take you to task on taxes. i live in new york city. i am charged new york city taxes, new york state taxes and federal taxes. add it all up and i lose 60 cents on every dollar that i make. and hillary -- and bernie too -- they want more. would you address the morality of that? when a government takes way more than half of a man's income? >> well, i think that, certainly, wealthy people have a reasonable point to make as it relates to the tax rate familiarly in new york city, new york state and the federal tax rate on top of that. however, if you look at the overall well being of the wealthiest people throughout the last seven years under the obama administration, people have
gotten wealthier, not poorer. the economy has gotten much stronger. 14 million plus jobs created, 71 consecutive months of private sector job creation, unemployment rate over 10% when the president took office -- stuart: do you think it's morally right that i should be forced to pay more than the 60% i'm already paying? >> well -- stuart: morally right? >> well, i don't think that we should make moral judgments one way or the other. stuart: oh, really? i will. >> in the context of the tax code. the tax code, at the end of the day, and some-my colleagues in the house -- stuart: democrats believe it's theft? >> no, none of my colleagues on the democratic side, confiscatory, i think, is the term that has been used. stuart: exactly. >> but i would point out under president clinton when he raised the top tax rate from 35% to over 39%, 20-plus-million jobs were created during that eight-year time period. so i think you've got to look at the tax code -- stuart: wait, weight, wait, there's a lot more to it -- >> you've got to look at it in
the context of the economy and the overall health and how the average american benefits. stuart: there is a lot more to it, but, you know, you got your word in. hakim jeff reese, you're welcome on this show. >> thank you. stuart: an uber driver in michigan allegedly goes on a shooting spree, six people dead. here's the question though, liability. you know there's going to be lawsuits. is uber liable?om the judge, next. oh i'm not a security guard, i'm a security monitor. i only notify people if there is a robbery. there's a robbery. why monitor a problem if you don't fix it? that's why lifelock does more than free credit monitoring to protect you from identity theft. we not only alert you to identity threats, if you have a problem, we'll spend up to a million dollars on lawyers and experts to fix it. lifelock. join starting at $9.99 a month.
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liberty mutual insurance. stuart: an uber driver in michigan accused of going on an hours'-long shooting spree killing six people, all while picking up passengers in between attacks. all right, napolitano is here. now, look, in america you can sue anybody for anything, and i've put it to you that uber is going to get sued. >> and the lawsuits, unless the facts turn out to be differently than we understand them to be, should be dismissed. uber is not a guarantor of the safety of the whole world. just because this person worked for uber and became a murderer in a venue having nothing to do with uber, it's not like he was killing passengers that came to his car because of uber. stuart: they did do a background check on the man. he came up clean. >> well, a background check is only as good -- it's like on buying a gun. it's only as good as the database. they probably used a standard
fbi database, and there's no connection a of mental illness there. stuart: you would agree with me, though, they almost certainly will be sued by the victims' relatives? >> yes. i can certainly assure you that uber has no liability here merely because it employed this man. stuart: i've got this one, and this is for you. a judge in connecticut -- is that right, ash? >> yes. deciding this morning whether the victims -- the relatives of the kids killed in the newtown massacre can sue the maker of the gun. >> so i'll use the same analogy that we used during the break. can the victim of a drunk driver sue the manufacturer of the car because the driver was drunk? answer: no. in this case there's an expression statute enacted by the congress signed by george w. bush saying manufacturers cannot even be sued for liability when their weapons are misused. stuart: bernie and hillary both want to make it so that you can sue -- >> yeah. they want to do, they want to do everything they can to take guns out of the hands of law-abiding
citizens, so that will be subject to the government. stuart: or force safety devices onto all guns that are sold. >> thereby rendering them useless. stuart: precisely. you know, judge, i think we've -- >> alice is yelling at me. all right. stuart: younging thank you. out of time. take a break, more "varney" after this.
♪ ♪ >> donald trump will do more, if you follow his policies and approach, for the economic security of america which, by and large, will benefit any community including blacks. i don't like when people say obama's the black president, so he should have done better for blacks. he should have done better for the economy. stuart: david wade there on the benefits that trump says he'll do more for black folks than did obama. that was david webb. throughout the program today i've hoisted this idea that today's market rally has something to do with trump's win and bernie's loss, and you are going to shoot me down again,
aren't you? >> absolutely nothing to do with it, stuart, but well done for trying. that's all i can say. >> well done. >> it's about oil. the market's high because of oil. stuart: and bernie lost. socialism is dead and dying. >> if you want to go with that, we'll go with it. stuart: we're out of time -- [laughter] but, neil, what have you got? >> that is the craziest compute for a market rally i have ever heard -- stuart: okay, there you go. neil: thank you, my friend. we doe with today's gains, the dow is up about a thousand points from that early thursday, february 11, lows. that's a may -- amazing comeback we've seen. some are saying at these numbers we are back to pricey levels. that's always in the eye of the beholder, but, of course, oil a big reason why we're seeing what we're seeing. you know the drill. it goes up, stocks go up, and it has been a big wind at this market's back.