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tv   Varney Company  FOX Business  November 30, 2016 9:00am-12:01pm EST

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deliver on all of his promises, whether it's trade, immigrati immigration, tax reform, ripping up and replacing obamacare, you name it. i think it's inspired. >> amen. dagen: i'm kind of overwhelmed by it. maria: i'm very impressed. have a great day and see you, "varney & company," take it away. stuart: oh, what a day this is. good morning, everyone of the the news is thick and fast. i'll start with opec, they're back looking at a production cut, 1.1 million barrels a day. stocks up as well. here is a trump win. 1,000 jobs at carrier will stay here. they are not going to mexico. a trump announcement, he's cutting ties with his businesses. no conflict of interest. he is only going to run the united states of america. romney breaks bread with the president-elect. big smiles, no decision yet on the state department job. look, the trump administration
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is rapidly taking shape. policy is about to change and change fast. this is the trump version of draining the swamp. steven mnuchin at treasury, he'll take on financial reform. a goldman sachs guy, a movie producer and told fbn the economy will grow rapidly on hundreds of billions, if not trillions of dollars will come back to america. wilbur ross at commerce, he will manage donald trump's trade policy. elaine chao, infrastructure building. and tom price at health, a plan to replace obamacare, betsy devos, school of choice, please. stuart: and trump and pence will go to indiana and celebrate keeping carrier jobs as promised. there's a sense of movement and a sense of optimism.
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"varney & company" is about to begin. ♪ >> what i've seen through these discussions i've had with president-elect trump, as well as what we've seen in his speech at the night of his victory, as well as the people he selected as part of his transition, all of those things combined give me increasing hope that president-elect trump is the very man who can lead us to a better future. stuart: so, could that be our next secretary of state mitt romney? here is a man who-- i will ask him the question, he's not going to answer. jason miller is the communications for the trump organization, the transition team. you're not going to tell me whether or not mr. romney is the next secretary of state. you're not going to tell me. >> he's one of the forefront. there's a really good chemistry between governor romney and the president-elect. when i spoke with the president-elect about this this morning and he stressed a couple of things, that number
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one, he is down to a final four, that he's going through for this very important pick. number two, that whoever he picks, he wants to have a really good relationship with, and someone who really shares his world view because when that person is on the other side of the planet representing not just the administration, but the entire country, someone we know on the team fighting the exact same way that the president-elect will be. stuart: you don't know who the pick is. >> the president-elect hasn't made a final decision. stuart: if you did, you wouldn't tell me. >> not at all. stuart: mr. trump has appointed steven mnuchin, treasury, ar wilbur ross for and elizabeth choo. 's he supposed to be draining the swamp. with those appointments is he draining the swamp or filling it back up again? >> we talk about steven mnuchin and wilbur ross, these are two
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men who helped to form the economic populous message so successful for the president-elect. when we talk about steve mnuchin he led the fight to put together the tax reform plan and he's knowing the in's and out's and the numbers. that's the point guy. wilbur ross put together this trade message, this america first trade message. you talk about two men successful with steve mnuchin and wilbur ross you talk about the art of the deal and art of the comeback, nobody has done that better than these two men. when we talk about draining the swamp and helping american workers, they're going to do it. stuart: okay. >> as we saw from the carrier news, they're at it before they're taking office, the president-elect and vice-president elect. stuart: they're going to indiana and that's a victory lap. celebrating the carrier jobs stay here. are you taking that with them.
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>> i'm not sure if i'll be on the plane with them or going to hq. stuart: you have to be trumpeting this as a huge win? >> they're political wins, but more importantly, there are a thousand families who are going to have jobs this christmas. these are jobs that make no doubt about it, they would have been sent off to mexico, but the president and vice-president elect worked to keep them here. stuart: did he strong arm carrier, if you don't do this, we'll withdraw the-- >> and others are coming. stuart: with other companies? >> with announcements down the road and they've been working that's the great thing about president-elect trump he's looking at two, three months down the road, talking to companies, putting things in place, we're going to revive the manufacturing sector and keep jobs here and people have so much more to be excited about, there are so many things that are moving in the right direction.
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you have to be optimistic. stuart: okay, now, he's taking on a twitter storm. look what he's been up to so far today. he says, first quote, i will be hold ago major news conference with my children on december 15th to discuss the fact that i will be leaving my great businesses in total in order to fully focus on running the country in order to make america great again. he went on to say, how important it is not to have any conflict of interest. how is he going to do that? it's awfully difficult to separate a huge business empire from the huge business of running america. >> a couple of things on that. first, i'm a big fan of the president-elect being on twitter. i know it might sounds for a communications guy, that it's counter intuitive. the way he can get the message out and talk directly to people and driving the news cycle. people say i'm glad you're separating yourself to the business and leaving it to family members.
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stuart: just as the morning news show goes on the air, mr. trump tweets this morning and bang, he's headline news again. >> he's able to step around filters and talk directly to people and it's not going through spin people, it's not going through some poll tested blow dried nonsense, and so when we talk about able to get the word out. this announcement and the fact that what he's made clear, so we're clear, giving the business to the family and getting out of that. that's a complicated task and why we need time working with the lawyers and accountants making that run smooth. he's running the country. stuart: he takes off for indiana and ohio tomorrow. are we going to get cabinet level appointments today. >> i wouldn't expect anything until after the weekend. stuart: nothing today and tomorrow until after the weekend. secretary of state job is on hold. >> it's down to a final four
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and when he's ready to tell us, he'll tell us. stuart: jason miller, you look like you're having the time of your life. thank you. stocks, yes, they are going to open ip again today. investors like the sound of economic growth and big stimulus. you're looking at the trump rally in progress. we might hit 19-2 today. the other story on the markets is the price of oil. there's a true spike in progress there. never expect today see that. an 8% gain, opec may cut output 1.2 million barrels per day. and of course, because of that, the energy stocks across the board are rallying like you wouldn't believe. i'm going to say those stocks are soaring. look at them, marathon, chesapeake, murphy, hess, the entire sector is rallying. ashley: should be a press conference, but word is there's a potential deal for 1.2
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barrels per day. >> i think they're going to have a deal. 1.2 million barrels a day is at the high end of expectations. people thought somewhere between 800,000 and a million barrels a day only 1% of worldwide supply. it doesn't sound huge. stuart: will they do it? >> in the past, we've had opec agree to such things and then people cheat. and that's probably what's going to happen again, but nonetheless, what we see today is right now it's boosting prices in effect they've already won. stuart: is it good for the stock market? we've got futures looking at a gain of about 60 points and then 8% spike for oil. i've got to believe they're working together here? >> i think it's good for the stock market. the oil is creeping up, it's not like we're in recession, and they're propping it up. the whole world economy seems to be accelerating a little
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bit. and ocb largely because of trump election, boosting worldwide growth and we've seen it's good for oil prices and-- >> i'm laughing because there's a real sense of optimism. >> and here he is, right there. and we've got other news for you, this is, i'm going to start with something grim, frankly. tornados hitting the southeast overnight, two people killed in tennessee and another three in northern alabama. now, four children critically injured. a tornado watch remains in effect until noon today. and this, a group of islamists living in upstate new york reportedly arming themselves, gearing up for a fight against president-elect trump. we're on that for you. and president obama does an interview with rolling stone and blames hillary clinton's loss on fox news, you'll hear about that, i'm sure. and french daredevil, they call
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him spider-man, climbing a 450 skyscraper in barcelona, took him about an hour to get to the top. no ropes, no harness, no safety equipment and he made it. >> the building looks like a giant ladder. stuart: we'll be back.
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>> oh, those teen retailers. american eagle in trouble, they're looking to the future and they don't see a rosie outlook. that stock is going to be down, what, maybe 10% this morning. the price of oil though is spiking and that's one of the biggest news items on the markets today. up 8% at the moment, opec says they're going to try to cut production. and look at netflix. not sure what the stock is doing, it's up very, very slightly, but there's news on it. ashley: they are announcing that members worldwide can now download content at no extra cost. it's a feature that will be available in all plans available on phones and tablets on android and ios operating systems and you can stream, you
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know, normally you would stream. now you can store it. stuart: take it with you. so i download it got it on my device, i walk away, play it. ashley: whatever you want. stuart: and that's what i've got. is it big? >> it is big. if you've got somewhere you don't have internet connection. >> suppose you're on an airplane, that could be a good thing. stuart: how many times am i on the airplane. rolling stone interview, president obama in it, and blaming fox news for hillary clinton's loss. ashley: yeah, the reporter asked him, the president obama, why so many white working class voters turned out for donald trump. here was his answer. quote, i think that part of it has to do with our inability, our failure to reach those voters effectively. part of it, he goes on to say is fox news in every bar and restaurants in big chunks of the country. big chunks of the country and part of it democrats not working at a grass roots level, being there showing up, making arguments.
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stuart: i've never been to a bar or restaurant in new york, massachusetts or california that ever had fox news on the air ever. ashley: i agree. >> it has nothing to do with the lack of jobs policy under eight years of obama, that's clear. stuart: right again, liz peek. now on foreign policy, the current secretary of state, john kerry wants to keep the status quo. not sure we are going to get that. there could be a big shift under incoming president-elect. come on in, john bolton, american enterprise institute scholar. i sense a big reversal is coming. so can we go through this one by one. are we going to reverse the appe appeal, the outreach to cuba? >> we should, because the cuban governor has violated part of the deal. there are more political prisoners and the only thing that castro regime wants is a
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lifeline to get past the chavez and meduro and subsidies on oil. i think it's bigger though than just cuba. i think this is a potential hinge-point in hemispheric affairs. it is the cast, castro for reasons, best known to left wingers worldwide was iconic figure. he was the last scrap of revolutionary legitimacy left in latin america and i think the meduro regime, morales in bolivia, and i could go on, all of these regimes now look to be on the wrong side of history. stuart: big change. >> i think an aggressive american policy here of diplomatic outreach across the hemisphere could produce big results. stuart: the iran deal, would you just plan scrap it? >> that's what i'd do and i'd do it in the earliest days of the administration. it was a strategic mistake for
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the united states when they entered into it. iran didn't intend to comply and i think they've been violating it since before the ink was dry. attacks in effect and approaches to american naval vessels, launching of missiles against our ships in the red sea. the taking of american hostages. reflects zero change in iranian international behavior. if anything it's gotten worse. stuart: jason miller told me moments ago that the pick for secretary of state is down to four names. i didn't ask for the names, i presume you're on that four-name list, aren't you, >> well, you know, stuart, i don't think i'll commit any news this morning either so-- >> i knew it, but i had to ask, i've got you on camera and i've got your microphone and i have to ask these things. >> i'm just a fox news commentator, they put me up here. stuart: so hillary's loss is your--
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>> i did my best. stuart: thank you. >> thank you, stuart. stuart: next big bailout, what is it? a report from the accountability office the feds are on track to forgive $108 billion worth of student death. president-elect trump following through with the first campaign promise, negotiating with carrier to keep jobs in indiana. big win for the american worker. we're on it and we'll deal with it next. i know you're my financial advisor, but are you gonna bring up that stock again? well you need to think about selling some of it. my dad gave me those shares, you know. he ran that company. i get it. but you know i think you own too much. gotta manage your risk. and you've gotta switch to decaf. an honest opinion, even if you disagree. with 13,000 financial advisors, it's how edward jones makes sense of investing.
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>> production from our facility in indianapolis to monterrey, mexico. stuart: that was then. the workers got the news that their jobs were going to mexico. that was then. but thanks to negotiations with president-elect trump those employees jobs are safe. they're staying. liz, what did mr. trump and pence have to do to get them to stay? >> well, i think two things. one is i think they offered tax incentives and so forth in indiana to help them stay there. but also, i'm sure they talked about their broader program of lower taxes, lower regulation, which i think is enticing and attractive to u.s. corporations in general. and look, this is a company where 10% of its parent company, united technologies, is done with the federal
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government. trump is a deal maker, hey do you want to do more business with the federal government or less? let's talk turkey. and who cares, this is what trump was hired by the american people to do. if he can save jobs in indianapolis and more power to him. and president obama made no effort on this. when was the last time he sat down with a corporate ceo and talked about putting jobs in the united states? i don't believe recently. ashley: i like watching that video of that it brings it home, it's sad, these are people's lives on the line told, sorry, you're going to mexico. great there's a happy ending. and mike pence, governor of indiana, and hopefully it's not just a thousand jobs, it's symbolic, but i hope we see more. stuart: it's a fulfillment of a promise and jason miller sitting here said that's the
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first of a lot to come. i think he's going to strong arm, you do this or-- ments he has the power of the oval office on his side and the power of the united states. we have just ignored that for eight years. this is clout. and this is persuasion. so, look, i think this was a huge positive for the president-elect. stuart: it's a win for those workers, a win for the president-elect. >> and the country. stuart: now, the president-elect's economic team is starting to take shame. look at it. wilbur ross at commerce, steve mnuchin at treasury, they say mr. trump will bring-- or their policies will bring hundreds of billions, if not trillions of dollars back to america. and told us that this morning. that's a very big deal. we're all over oil. opec working to try to cut protection by a million dollars a day. and the price is surging and the stock market is going up as well. stay right there, folks, and you watch your money grow with the opening bell next.
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>> all right. we've got about 35 seconds to go before we open trading this wednesday morning. you are probably going to see a continuation of the trump rally. the dow industrials should be on the up side shortly and that would be 50 or 60 points higher. that should take us up to about
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19-2. lots of stuff in the news background, the price of oil is spiking. there's a new guy that's going to take the helm at the treasury, that's an important position and a new guy coming in at commerce. trump's economic team taking shape. apparently investors like it. we'll find out how much. bang! it's 9:30. i see green on the left-hand side and more of it. up 13 points for the dow, 26 points for the dow and any advance on that, please, 28 points on the dow. 40, oh, yes, here we go, 48 had points. that's quarter of a percentage point. 19,170. a new high for the dow industrials. where is the s&p 500, modest .1%, but it is up. and how about that nasdaq? all of those technology issues up .2%. now look at oil. you want to see a big gain? look at it. 6 1/2% higher.
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$48 a barrel. we'll talk a bit later what's going on with opec and gold, where is that today? not much movement. 6 bucks lower, 1184. who is with us as the trump rally extends and the trump administration takes shape? i'll tell you, ashley webster, liz peek, shah gilani and steve cortez. and mr. trump picture steve mnuchin and wilbur ross. from an investor's point of view. there is goes up. and do you like this? >> i particularly like wilbur ross, understands commerce and a terrific guy for the job. don't know how long he's going to stick around he's 79 years old. stuart: investor friendly, this team? >> yes, he's got a bit of a mixed result in terms of things he's done, tariffs he's taken and so forth and protection issues, but i think as commerce
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secretary he'll manage those well. stuart: liz peek, do you like this team? >> i couldn't agree more, wilbur ross is a fine pick. these people are geared up and equipped to get things done and fulfill trump's campaign promises and that's incredibly important. stuart: steve cortez, i think what investors really like is what mr. mnuchin and mr. ross told our maria bartiromo this morning, they're looking towards the repatriation of hundreds of billions, if not a trillion dollars coming back to america. i think that investors like that. >> they sure do and so should just regular americans. even though they're not particularly invested or overly invested in the stock market. that's great news. it hard to exaggerate how consequential that's going to be for capital extend tur and bring at least trillions back home where it belongs. we'll be investing in american technology, plants, i think the potentially unbelievable.
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and i would add one fellow, todd rickets, an able number two to wilbur ross and brings youth to the emotion-- equation and he's in his early 40's. and mnuchin, incredibly successful in hollywood. we're bringing talent and deal makers, it's going to be incredible. stuart: and a lot of people may not know this, but steve mnuchin produced "avatar". >> and i believe the x-men series so he's tremendously successf successful. >> he can be the learning to the west coast. stuart: price of oil is surging, 48, $49 a barrel, 48. here is what i want to know. is oil at $48 a barrel good news for the stock market? >> yes, i think it is, because i think the market is going to
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look at this to be a floor underneath the invent banks backing the loans to the oil patch and this has been a problem when the oil dipped. everybody worried whether the loans get repaid and this price close to $50 is productive in terms of those investments. stuart: good news for investors, high oil prices? >> i think so, because it's a big sector of the u.s. economy that has been sort of underweather over the last year or two as prices came down. you'll see a resurgence of spending and hiring and more momentum for the economy. stuart: by the way, we had energy stocks look at them right now, most of them except valero, all of them are up big time. ashley: yeah. stuart: endarko is up 7%, and oxy 2% et cetera, et cetera, et cetera. when you look at the majors you will also see significant gains for oil stocks. marathon is up 11%. >> they're all going to help the general market because they're a large component of the s&p 500 and move the market higher. stuart: now, mr. trump will
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visit indiana tomorrow, to announce formally the deal that keeps a thousand factory jobs at the carrier plant in indianapolis. remember, carrier is owned by united technologies. mr. trump is delivering on one of the promises during his election campaign. i say this is a big political winner. nobody's going to disagree with me on that, are you steve cortez? i can't imagine that steve cortez would disagree with this? go. >> you know i'm not going to disagree with this. it's a win before he takes office. i think what there needs to be and i hope what happens with carrier, there needed to be a combination of carrot and stick, hey, if you move jobs, and move overseas might be negative consequences, but more importantly is the carrot side of it. we need to make sure that the american economy is the most hospitable for businesses to invest in the entire world, and it hasn't been that way for the last eight years and we need to change that and make sure we have an educated work force and
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tort system, and tax code is friendly. stuart: as liz peek said earlier this morng, the stick th carrier was, hey, you want to do business with the federal government? and the carrot was, stick with us. >> we'll make it better. stuart: and have a growing economy. and that's the carrot and stick and steve, jason miller told us they'd do that with other companies. >> i think so. i think we'll see a renaissance in america, a renaissance of manufacturing, by the way just talking about energy, part of that renaissance to manufacturing is that we're on our way to energy independence and we'll have plentiful affordable energy because we become saudi america and crude oil-- >> i want a tax cut that takes effect on january 1st and gas at a buck 150. a buck demand on my part. >> it's come down for me, 108 and change, 109 and something today. it's a good stock, you could have a 10%, 12% stop if it doesn't work out. there's a lot of upside here because of pratt and whitney,
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because of carrier and the otis elevator is another one. stuart: does shah gilani own it? >> no, but because of this move, i'll take a look at it. stuart: let's look at the big board, up 70 points or there about. 16190. >> and i don't think it's expecting the stock. mcdonald's adding more fresh beef. no effect on the share price. i just chucked it in. i eat at mcdonald's, all right. and netflix, now, here is a story, they've announced they're going to let you download shows and movies so you can watch them-- have i got this right, anyway you like. ashley: download them at no extra cost. the thing here that's handy, you download the tv series or whatever you want to watch, a movie, now you have it. if you have no internet connection it doesn't matter you've downloaded it physically on your device, your phone, tablet, whatever, so as we
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mentioned before you're on a plane you want to watch the movie you doneloaded, kind of a handy feature. stuart: you can download it on the iphone and watch it on the plane? >> you're not going to do it. [laughter] >> i guess i'm not very good with technology, you people. now, whenever we have a story about retailing, specifically teen retailers we go to the nicole petallides on the floor of the new york stock exchange. nicole: this was a winner outpacing the likes of abercrombie & fitch, one of its competitors, for example, they came out with the quarter, rise in quarter, weaker than expected. they talked about a market that's tough and an outlook below expectations. american eagle over 20 years ago started with one store, in a mall in michigan, 12 oaks mall and a teen retailer and the like.
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and it's a tough environment. and the ceo says they will open 25 new stores and be a new market, but said they're ready for the holiday season, but it's a tough one, overall market environment. but down 12% today. stuart: i don't want to be a teen retailer. don't want to do that. nicole: no, and abercrombie is down this year and that used to be hot. stuart: did indeed, nicole. thank you. and for giving $108 billion in student debt, i'm going to call it a bailout. does anyone want to disagree? >> i will agree it's a bailout. when the government gets involved in markets it distorts them. and done that with education. a lot of young people loaded themselves up with debt and largely worthless degrees and living in the same bedrooms they did growing up. and they would have been with
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hands-on training, working their way through coity colleges and working through. but when the government is involved it distorts incentives and did massively on the student loan department. stuart: on the screen yours' looking at the trump rally, 19,200 on the dow jones industrial average, 22 days after the election and we're up, there's supposed to be no math on the program and now we're up, maybe headed to a gain of 100. i'm going to express another opinion. investors see massive stimulus coming for america's economy. whether it is moving money back to america, whether it's tax cuts, whether it's infrastructure, or military spending, that is massive stimulus. that's what's going on here, am right or am i right? >> i think it's totally right and there's also optimism. consumer optimism bounced back
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highest level since before obama took office. people are hopeful. and if business executives look around and say, the environment is going to get better, they hire people, it's not that magical. stuart: they can see good stuff coming. >> the optics of the transition team. with the carrier thing and donald trump telling he's going to remove himself from the running of his business, this is encouraging for the people to say this is time to get back in the market. stuart: steve cortez, i cut you off. what are you going to say? >> i agree on liz's point on optimism, the intangible part of this. the politics matter and so do the animal spirits. i live in a blue city and you are in a blue city. i don't know a whole lot of folks here who supported donald trump, but i can't tell you how many people who run small businesses, who tell me even if they didn't like trump the candidate are saying we believe we can grow again. i'm thinking about hiring somebody. i'm thinking about investing.
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that change in mentality is key. stuart: you know, it's fun. >> it is, it's exciting. stuart: and it's fun, you know, a sense of optimism, you've got a smile on your face, look what's going on. the dow is up 19-2. >> the market was going up for the last eight years, nobody was happy with the rally, they were fearful of the rally. and now they're optimistic and they believe it's sustainable for the right reasons. stuart: i've got to talk about apple. one analyst, i believe he or she is an important person, they're saying there will be unprecedented demand for the iphone 8. now, what's this about. ashley: wishful thinking, maybe. it's kgi securities analyst that says, look, there's going to an unprecedented demand in this person's mind they're going to refurbish the i-7 and i-7 so what. and then the iphone 8, much speculation, curved screen, wirene wireness charging, not going to
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soak up as much energy. and all of this he says could men shipment much 90 to 100 million almost watching the second half of 2014 and seeing this as a resurgence for the iphone. stuart: i've got one person frowning up here. liz peek, what's the problem? >> there is a replacement demand, and basically, the last couple of iterations of the iphone have not caused people to trade in their phone for the newer models, but this may be in fact the one that does it because, frankly, because of the less energy use which means all of us walk around with chargers because our phones are constantly dying so i think it sounds like a modest upgrade. stuart: would you buy apple at this-- >> i'm out of it. 110, if i break it i'm not too sure what's going to happen. with this news coming out you've got to discount that and buy here, if it goes lower add to your position. i think the super cycle for
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apple, some suppliers are gearing up 130 to 140 million devices in the second half of 17. that eclipses 113 million they sold in the second half of 14. stuart: so. >> this could be huge for the stock. stuart: will you buy it at 111? >> i'd like to see it hit 110 and buy it down in there. stuart: you would hold off for the sake of a buck 90? >> for one measley point? >> it's optics, it's a support level, if it doesn't hold there, maybe buy at 105. that's my next level. it hasn't acted really welcome. stuart: you are so cool. i want to talk about a tobacco stock, something which i personally would not buy. that would be philip morris international. the ceo reportedly looking towards a time where they don't sell cigarettes anymore. what are they going to sell? >> they're moving towards these vapor cigarettes. you heat the tobacco enough to get a vapor, but not enough for it to smoke and they say it's-- they claim it's going to be much less harmful than regular
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cigarettes and already put in $2 billion on the technology and it's already available in 12 countries. he said that he believes there's going to come a tipping point where they'll begin the phasing out of traditional cigarettes. stuart: i have to ask you a quick question. would you buy a tobacco stock, liz peek? >> no. stuart: would you, shah gilani. >>, yes, i've owned it for years. stuart: steve cortez? >> i wouldn't now and the reason is, shah mentioned the dividend, tobacco stocks if you look at them tend to trade like treasury bonds, very similar. rates going up dramatically, a good thing since the president-elect won. i think if it's going to continue, stocks like tobacco are going to have a hard time. stuart: it's the only stocky wouldn't buy on moral ground. that's all it is. i'm sure you're very surprised that stuart varney expresses a moral opinion. >> not surprised at all. stuart: you should be. [laughter] i want to thank everybody for a
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great show so far. 15 minutes into the trading session. thank you very much. liz, shah, steve, a great opening to our program this morning. check that big board. we're almost up 100 points. you're looking at a trump rally, 22 days after the election. let's move on to tennessee. oh, huge wildfires burning for the third straight day. we're told that 14 fires have burned nearly 15,000 acres in one particular county. 14,000 people have been evacuated and there are three deaths because of that fire. coming in next, our next guest from the state of tennessee, welcome republicans from tennessee, congressman marsha blackburn. first of all, marsha, our sympathies to your constituents. that's horrific, what can you do about it? >> we are so very concerned about the fires that are taking place there in east tennessee. we are hopeful that there is
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more rain on the way. we know that our first responders are doing an incredible job and you have the national guard that has gone in to help everybody. it's an all-hands on effort. tennessee is the volunteer state and neighbors and friends from across the state are showing up to help those affected there in the county. stuart: will you apply for i think it's federal emergency funds? >> no doubt fema will be a part of the process as they work to address this. it's just catastrophic. stuart: i have to ask you about vice-president elect mike pence. he says repealing and replacing obamacare is the first order of business straight out of the gates. marsha, watch this for a second, roll tape. >> the president-elect's made it very clear, he wants the congress, when they convene in early january, to take up the task of repealing and replacing obamacare first.
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stuart: now, congressman, i personally wanted the tax cut to be absolutely first and back date today january 1st, but that's just me. i'm sure, do you approve of the repealing of obamacare as job one? >> i do indeed because it affects every business. we need to take this action quickly, so that the insurance markets can reset. we're going to do the bill. i've talked with you about for years, across state line purchase of health insurance, to open up the health care marketplace. the insurance marketplace. expand health savings accounts. tom price hhs secretary is going to do a phenomenal job and you are going to see the house move forward working with the administration to make certain that president-elect's promise of repealing and replacing obamacare is carried out immediately. stuart: i was going to ask you about the frequent visits to trump tower and you can't say anything about it.
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>> that's right. stuart: i want our viewers to know you're in and out and one day we'll find out what it was about. >> absolutely right. stuart: marsha blackburn, new for being with us. >> good to be with you. stuart: thank you, marsha. we're up 93 points, 19,213. the big story of the day on the markets is actually the price of oil. opec is looking to try to cut 1.2 million barrels a day in production. and that's put oil up at $48 a barrel. 6 of 1/2%. coming up after this coming break, the governor of texas, greg abbott, he says he will block funding to sanctuary cities in texas. not so fast says judge andrew napolitano, the judge says he can't do that. he'll join us shortly. i have asthma...
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cities. >> people here killed by people deported repeatedly and come back in and kill someone. there was a man in dallas, texas, driving home from a dallas cowboys game and filling up his gas tank and gunned down by someone who had previously been deported three times. we cannot allow texans' lives to be sacrificed because of an illegal immigration system that's not under control. stuart: is this a clean cut thing? the governor of texas says no sanctuary cities and it doesn't happen. not so, that's judge napolitano. >> there are a couple of issues here, the governor of texas said on your program and a couple of our colleagues' programs that he would hold back financing of certain money for certain cities that did not comply with his orders and his orders are basically you will work with the feds to comply with their instructions on immigration, that the governor of texas has what a lot of governors would love to have, a discretionary fund.
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it's a couple hundred million io austin, some to dallas, some to houston or give none to austin, none to dallas, none to houston. depending on the strings he wants to put on it. these are bennies, not the money to use to finance the cities. and second, more important issue for all of governor abbott's good intentions. my hat is off for his intention, i'm a fan of his. he will run up into a wall called the constitution because the constitution does not permit the federal government to comandeer local and county and state police and say you will work for us and enforce federal law. stuart: yeah, but you can say if you don't do this, you don't get any money. >> that would require the congress to do that so the governor can't do it and the president can't do it, but if congress says, hey, bill deblasio, mayor of new york
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city, here is $100 million and spend it however you want, but if you don't cooperate with ice, the immigration people, you don't get the money. congress can put those strings on it, not the governor and not the president. stuart: one year from now would you expect sanctuary cities still to be in place? because i wouldn't. >> only the most ideologically rigid like perhaps the one in which we are located at the moment. but most will bow to the almighty dollar and with the strings, it happens invariably. [laughter] >> fast before you go, you're having dinner in new york city last night and looked out the video and up gamehe trump motorcade. >> i promptly e-mailed one of our colleagues and i won't name and i know where they're having dinner and all of fox knew. stuart: was there a crowd? >> there was not a crowd
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because i was able to see this across the street, it was an enormous motorcade and unmistakable. stuart: a motorcade that big. >> and the press was following and was not told where they were going. stuart: oh, my heart bleeds. judge, thank you. [laughter] >> i say there' a can-do attitude. i say the mood of the country is shifting, it's getting more positive. isn't it? my take in a moment. also we're on trump tower watch and we'll get more out of the golden elevators in manhattan, maybe. and ma mnuchin on mornings with maria on how to pay for roads and bridges. >> the reason the american companies don't bring the companies back, the tax rate. lowering it and 1 time
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rerepatriation tax. we think that's going to create infrastructure and create jobs. is ..
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stuart: the country is on the move, rapidfire developments from the trump team, new dynamic from our political leaders. there is a mood shift. policy changes, here they come. at treasury, steve mnuchin will begin the biggest tax overhaul since ronald reagan. commerce, wilbur ross changes trade policy. education, betsy goes for school choice, there is a switch, away from the stalinist bureaucracy of the teachers union. transportation. elaine chao will oversee a vast infrastructure building program. tom price of the health the parliament unravels the scourge of middle america, obamacare.
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there is a can-do orientation to the trump cabinet called draining the swamp with new plans and new policies. you can feel this new mood on the stock market. three weeks and one day ago, we have seen a very strong trump rally and it continues this morning. then there's the news today that 1000 jobs that carrier will stay in indiana. they are not going to mexico. that is a big trump win. one more thing. the president-elect will separate his businesses from the presidency. no conflict of interest. trump is up and running with great energy. the mood has shifted. america feels different. the second hour of "varney and company" is about to begin. stuart: back to my editorial in a moment. first breaking data, pending home sales. >> caller: for the month of
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october up 1%, weaker than they thought. we are up 1.8%. the real stock market has been frustrated. a hard time getting traction. there we go, okay but not great. stuart: on the left-hand side of your screen the trump rally continues, stocks up across the board. look at the price of oil. a big jump, $48 a barrel, opec trying to cut production, one.2 million barrels a day. they are trying, up goes the price of oil. that is helping oil company stocks in particular. exxon, conoco, royal dutch shell, up very significantly. those are energy stocks. valero, mostly up. how about big technology names, still not back from the selloff after the election.
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microsoft is doing well but the rest of them not where they were. back to carrier, the air conditionermaker. back in february when that company announced they were moving jobs to mexico it was on tape, roll it. >> new production from indianapolis, to mexico. >> this tweet from donald trump, from carrier, pleased to have reached a deal with president-elect trump and vice president-elect tends to keep close to 1000 jobs in indianapolis. tammy bruce is here. there is a mood change in the country. >> my face is hurting from all the winning, the smiling.
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he is not even president yet. the carrier job start fantastic, here's what the left was afraid of, the existence of the conservative ideal highlighting what they have never done or wanted to do. all the ability donald trump has, president obama has had, and these jobs aren't going to come back. he brings these job back. how are you going to do that? what are you going to do? there is no answer to that, a sitting president who doesn't consider, he had to address that, he didn't even consider maybe we should stop this or change something to keep this from occurring. this is why america's mood has changed and the market is up, this man is not even president
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yet. welcome to the new world, a future that has returned. stuart: tammy bruce fired up. stay right there. i will stick to this change of mood idea. president-elect trump and mitt romney had dinner last night, second meeting a few months ago when they had this to say about each other. >> donald trump is a phony, a fraud, his promises are as worthless as a degree from trump university. he was begging for my endorsement. i could have said drop to your knees, he would have dropped to his knees. >> there is plenty of evidence mister trump is a con man, a fake. he has changed his position not just over the years but over the course of the campaign. stuart: met is a failed candidate. he failed. he failed horribly. stuart: would you like to see a big change? they said good things about each other.
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listen to this. >> i had a wonderful evening with president-elect trump. i was impressed by the remarks he made on victory night. he continues with a message of improvement bringing it together. i have been impressed by the transition efforts. all of them combine to give me increasing hope president-elect trump is the very man who lead us to a better future. >> i'm going to faint from the winning but i don't know what you keep winning but the winning is exhausting me even more. this is a perfect just a conversation like president obama's comments, and every day we see the clarity that is surprising at first, president-elect trump's approach but we see the clarity. the success is the best revenge, we see the nature of these individuals. and not sure what the real switches for mitt romney.
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better to actually live life with optimism and hope. stuart: he sees the light, he wants the job may be. >> there is a photograph, a lot of photographs, one of them donald trump looked like the candidate the canary and the canary was named mitt romney and it was a very interesting, he deserves that. the president-elect deserves that success. we deserve it, americans are realizing honesty matters and clarity matters and that is what we got in that exchange with those two men. stuart: better stay there. don't waste your energy elsewhere. >> i brought up a canary. stuart: i better bring in ralph peters. you were very critical of trump during the campaign. you want to apologize, turn full circle, do it mea culpa, recognize the new positive mood in america, what do you say to
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our viewers? >> none of the above. i would say the republic has spoken. donald trump will be our president. every citizen give support until there is tangible reason to withdraw. >> don't you like what we has done, tax-cut, infrastructure program, rebuild the military, the money back from overseas, school choice, don't you like all of that? >> i like the program, and a false position here. i support the new president because that is my duty as a citizen and i am encouraged by some of his potential pics. general jim matus would be a spectacularly successful vital secretary of defense, i believe mitt romney or for that matter john bolden would be a great secretary of state. even when it comes to tax
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policy. i don't income tax policy in terms of what is good for me but what is good for the country. if trump and his cabinet working with congress can reform byzantine tax codes to america's advantage i support him. i am not anti-trump. i am pro-america. stuart: you were anti-trump in the run-up to the election. >> i certainly was, of course and i still have reservations. stuart: you didn't like his policies, you didn't like the guy. >> i'm worried about his romance with vlamir putin. to hope that any president fails is a hope that america fails so of course you hope the president succeeds. in his corner wanting him to do good for the country. stuart: do you agree with me that there is a mood shift in our country, it dates from the election, it changed from negative to positive, how about you? >> i think it is an evolution of
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the mood obama created of negativity and failure, obama was jimmy carter without the ferocity and audacity. i think you are seeing the darkness and the sun appears to be coming up. and hope it is not a false dawn. stuart: you are restored to us so to speak. come back soon. >> i will always be the same me. stuart: good stuff, see you soon. i will bring this one in. president obama asked in an interview why democrats lost the election and he blames fox news. i have a full quote for you. you will get to see it. democrats about to choose a new leader. will they stick with the old guard, nancy pelosi will bring in new blood with tim ryan, the party is split in disarray. tucker carlson is next.
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>> you said you worked here 16 years. >> i was advised not to talk to you guys. >> you are advised not to talk to me? why did you do that? come here. why did you do that? let's see how you got it. why don't you turn around and have the courage to turn around and talk to me instead of trying to stifle people's ability to talk to have a good story to tell and you try to cut it off. nice job, glad you did that. on live television on the fox network, this guy tried to stop me from interviewing somebody. i don't like that. you are doing that. this guy did it right here. don't like that at all. stuart: all right, jeff flock.
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we like that. jeff will be with us in the next hour to figure out what went on with that confrontation with a union official. check the big board, trump rally hold 80 points higher, 19-numtwo. half of the dow 30 are in the green. this is happening right now. house democrats selecting the next minority leader in the house of representatives. nancy pelosi old guard being challenged by the new guy, ohio congressman tim ryan. look who is here to pass judgment on this, his name is tucker carlson. welcome back, good to see you. >> mister varney. stuart: i will take it. stuart: it is possible that nancy pelosi will win. what does that tell you about the democrats. >> the largest congressional delegation in 50 states, she has raised a ton of money for
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democrats over the years and not that it has done good. they still appreciate, most importantly it tells you they learned literally nothing from the past week a month and election night three weeks ago. the message is middle america turned its back on democrats. very hard to keep a majority in congress or when the white house without the middle-class and keith ellison is not your ticket back, tim ryan is. stuart: two elections going on, today it is for the minority leadership of the house. coming up the chair of the dnc, keith ellison versus howard been. the far left and the mere far left. i am not sure if you are laughing, not sure democrats know how far left to go. >> that is it. thank you for remembering, putting howard dean in context,
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it was only 12 years ago. and and he was the embodiment of the activist days of the party. he is a moderate figure in the context of the modern democrat party. stuart: they are leaderless, divided, give me a guess. where are they going? >> the party is unstable because it is a coalition of the rich and the poor and no one in the middle and that doesn't work long-term. ultimately they will unite in opposition to trump, trump will unite the democratic party of course but right now a couple constituency, keith ellison group, the bernie sanders group, young white intense progressive socialist and people actually running at the clinton family, they are the smallest group and politically the most moderate.
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my guess is the sanders people will make some sort of deal with the keith ellison people and they will move dramatically to the left. stuart: what is the policy? we have had eight years, and what will be the policy in the future, can they ranch themselves back to a position strong on defense, support business and growth in the economy. can they get back to that? >> identity politics is not a policy, it is a way of dividing up the spoils in the biggest economy in the history of the world and it is a way of saying your group gets this or that, there's no actual ideological glue that holds it together. it is a philosophical question but i think the bernie people are about class warfare, hurting the rich to help everyone else the that is an ideology and has policies that flow from it. they don't seem to have embraced that at all, doubling down on identity politics. that is a dead end. stuart: you will be having far
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too much fun. it shouldn't be legal, what you are doing. >> and yet it is. stuart: we love your show, tucker carlson tonight, weekdays 7:00 eastern on the fox news channel. i love the fights you get into from the get-go at the top of 7:00. keep on winning please. >> trump is going to unite the democratic party. and all his policies will help the middle class, the democratic party will become more and more irrelevant because of the success of donald trump, obviously a year and two month, started being president. stuart: one of the things i have seen is reversal of politics, rich people, the top 20% youth to be solidly republican, now they are solidly democrat. what a switch. >> they were relying on the floodgates of money from a
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controlled american government, the insurance companies, the rich not having to deal with the hoi polloi, getting it from their friends in government like clinton. stuart: tucker carlson brings us glee, tammy brings us fire, like it. from the new york city surveillance video captures a man with a bucket of gold. a bucket of gold, granted out the back of an armored truck, grabs it while the guards are distracted, walks away, down the street, walking away with it. do you know what the gold is worth? guess. you can see the prompter. $1.6 million. walks up casually and walked away. grabbed the bucket. >> it was initiative, he was watching what happens. >> president obama blames fox news, president obama blames fox news for hillary's loss.
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we will tell you exactly what he said.
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blames fox news. part of it has to do with our inability, our failure to reach those voters defectively. part of it is fox news. in every bar and restaurant in big chunks of the country. part of it is also democrats not working at a grassroots have a. i have never seen a bar or restaurant in new york or california that runs fox news, have you? >> i have not. he is imagining things, but john fedora said that is why your party lost 63 house seats, 9 senate seats, 14 governorships, fox is on in bars. and -- stuart: cnn has the channel. >> excuses, a little disturbing, the fact calling american voters ignorant and stupid controlled by information and a notion of
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this fake news that has to be controlled or curated as the president noted a week ago, that he said the news that is online, there needs to be a cure ration, somebody has to choose what news the american people see, this goes within that line, censorship, what the left does, a knee-jerk reaction. the fact of the matter americans do know what they are doing. stuart: why can't you take respond to billy for the fact the democratic party is so out of touch with a large section of this country. ashley: your policies and the away the elitist attitudes you have and fox news in bars. >> underestimating us and underestimating the american people and continue to lose. stuart: we got this in early this morning donald trump says he wants to avoid any conflict of interest between running his businesses and running the country. leaving his empire to his
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stuart: exactly 10:30, just getting numbers on how much oil we have in storage and how much is drawn down, you could see the price move, it is $48 and $.53. ashley: a small draw on his, it is not a big number but slightly down. stuart: not much change in the price of oil, still way up, 7% higher, $48.45, scott shellady joins us from the cne in chicago. not so concerned about oil inventory numbers, i want to talk about opec saying they will cut production and the market seems to be leave them.
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why are you laughing? >> yesterday with a 30% chance that might happen in today we have come in again to see what opec ministers say and telling their horses, we are never sure. you know what this is reminding me of? watching opec and listening to what they say each and every minute is like watching who is going up and down the elevator that trump tower. it is ridiculous. stuart: you don't think opec will get attacked together and cut productithat? >> they can say it and can come to, quote, agreement but we know history tells us it will fall apart, let them take their time in the sun today but at the end of the day they will struggle. stuart: what about the impact on the stock market? oil getting close to $50 a barrel. is that good for stocks? what do you think? >> probably is good for stocks. what i'm worried about is we have a strong dollar, hell-bent on raising interest rates, whatever their reasons may be.
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you have those things, oil starts to slip and the west texas, the largest in the us, not getting a lot of airtime, if oil starts to roll over, they are joined at the hip this year, that could be a danger point. stuart: we got it, go back to making money and we will join you shortly. president-elect trump's financial seen taking shape, wilbur ross says commerce and for campaign chair steve mnuchin at treasury, steve mnuchin says tax reform is happening. >> we have a plan working with the policy group, sitting down and discussing it with congress, and in the first 90 days of the presidency, a major tax reform, biggest since reagan. >> charlie gasparino following
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this. charles: jamie diamond, steve mnuchin, who said it was jamie diamond, not me. it was definitely him, i know donald changed at the last minute. the markets are reacting favorably. steve mnuchin is loyal to trump's economic agenda and this centerpiece. tax-cut and regulation cuts. ashley: what is he going to do with.frank? >> he will be meeting with paul ryan, and -- can't just flush.frank down the toilet. it was a horrible law gumming up the banks. they become big and overpowering and if they fail they blow up the economy and if you stand -- figure out a way to initially
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get rid of the stupid stuff out of dodd-frank, so you wiggle it down. the tax cuts are key. that has to happen. get the economy moving if donald wants to build infrastructure, need tax revenues to pay for that and one other ing. i think steve mnuchin is smart enough to know spending and tax cut, the long bond yields will spike and crush the market rally and crush the economy. he had to be careful not to spend it too much. stuart: don't know about crushing the economy. charles: if you get high interest rates. stuart: where you are really right is donald trump's policies will produce massive stimulus, more government spending, infrastructure, the military, tax cuts, pumping money in -- charles: how lame obama economic work on the stock market went up because interest rates were at 0.
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yields went down. we were not growing. that was the conundrum. rich people got richer buying stock but the real economy got crushed. people got screwed. you could see that in the bond market when bond prices kept going, no inflation. stuart: you have massive stimulus, where do you think interest rates are going to go. >> it won't spike as high. >> thank you for being with us. and step aside, >> by tweet of course.
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go directly to the people. first tweet says i will be holding a major not news conference in new york city on december 15th to discuss the fact that i will be leaving my business in total order to fully focus on running the country in order to make america great again. and he has no conflict of interest. stuart: i want to see the legal method by which he separates these entities. on december 15th we will find out how. you are looking at the trump rally. we are at 1988 as of now. your ohio state attacker, a somalian refugee. my next guest is a filmmaker who interviewed somalis in minnesota. they wanted to live under sharia
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law and a muslim country, they did not want to assimilate here. role that tape. >> do you feel more comfortable living under american law or sharia law? >> sharia law. >> i am a muslim, i prefer sharia law. >> better we made it illegal in america to make fun of the prophet mohammed? >> differently. >> we should make a law that makes it illegal? >> that would be better. that would be better. >> would you rather live here or in a muslim country? >> i would rather live in a muslim country. >> would you prefer to live in america or somalia? >> somalia. >> reporter: saudi arabia. would you ever live in america or somalia? >> i would rather live in somalia. >> reporter: the filmmaker is with us. welcome back, good to see you
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again. i have to ask about those interviews. did you edit them down? did you do 50 interviews and it down to the ones you want that prove your point of view? >> i don't cherry pick. as a rule i make sure whatever the majority of people i see is reflected in my video. in this particular case, about 40 different interviews are not a single person deviated from that line of entry, not a single person. stuart: on that tape, they want to live under sharia law, prefer to live in a muslim country, and wanted a law that says you can't make fun of the prophet mohammed. >> do you understand or support violence against people who depict or make fun of the prophet mohammed, and their answer was yes across the board. stuart: political implications from what you gathered, now we
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have this ohio state university young man, a somali, apparently taking not necessarily direction but inspiration from the internet, you very much in the news, somalis come to america. we talk about vetting. you can't do that for the grandkids. and most of them simply want a better life themselves, good economics, job, and islamic immigration, everywhere in the world. kids get more radical further down the line they go. stuart: as you say it is difficult to have extreme vetting which cut out these
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youngsters. and impose a ban on people coming from certain areas. >> he said it. and the problem is this is playing into their hands this entire election process. i wouldn't say that. stuart: we have a series of these movies. stuart: continue -- great stuff. intriguing video and glad you shared it. this little background, the trump fan in the lobby ignores vice president dan quayle who is talking with the media taking a selfy with senior advisor kelly
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ashley: here is what you missed last hour. congresswoman marsha blackburn on the wildfires raging through tennessee. >> we are very concerned about the fires taking place in east tennessee. we are hopeful there is more rain on the way. we know our first responders are doing an incredible job, you have the national guard that has gone into help everybody. and all hands-on effort. tennessee of the volunteer state and neighbors and friends across the state are showing up, affected in severe counties.
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stuart: great voice, great production, you are looking at the price of oil. 1.2 million barrels a day for oil production. up goes the price of oil, 7% higher. we thought we would bring you this story. in california they are fighting climate change by controlling cow flatulence was i will give ashley this. ashley: you thought of me immediately. an ill wind is blowing in the california valleys. it is not santa ana but just as one. california trying to regulate the flatulence of dairy cows saying it is responsible for those greenhouse gases that trap the heat. what do you do about it? we want farmers to put the manure into machines that will take the gas and converted into electricity. this will drive up costs for dairy farmers, they are outraged. stuart: are they going to -- that is what they are going to
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do. ashley: they call the short-lived climate pollutants. stuart: are they going to force farmers to collect the manure, recycle it and -- howuch does that cost per cow? ashley: milk prices are going up. stuart: during the campaign donald trump promised to cut taxes. watch this. >> we will massively cut taxes for the middle class. we will massively lower taxes. we will massively cut taxes for the middle class, part of a plan to bring back jobs we will ever taxes. substantially simplify and lower the taxes. stuart: the chair of the house ways and means committee, that
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committee right the nation's tax code. >> i have to follow that story. stuart: i am embarrassed. >> there will be no tax break -- stuart: give you extra time. congress writes the tax code. got to negotiate with the trump incoming team, our viewers want to see this, investors want to see the tax-cut quickly. how is it going? >> it is exciting. we have leadership on tax reform. the consensus blueprint, great ideas to do so, exciting
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discussions, and excited about them coming on board, he will play a key role on tax reform. and was just proposed. they want to fix american broken tax code and make america lee prod, the best country on the planet. stuart: tell us if you are considering a corporate tax cut from 35% for 13 present. is that number on the cards? >> a lower corporations to 20, and job traders in modern history. the trump team wants to look at 16, we were eager to have those discussions. stuart: 42, 43 at the moment.
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and 33 or lower. >> this is what you are proposing, so simple that most individuals file on a postcard. th flatten the brackets to make it which at every income level. and it is important for the middle class, and incentivize savings to create a nation of savers but to grow the economy and all those pro america pro middle-class provisions eager to sit down with the trump team. stuart: when president clinton raise tax rates he was going to backdated the race to january 1st. will you backdate the tax-cut to january 1st? >> we have those discussions was
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what i do know is president trump is making this a top priority. we will be ready with progrowth tax reform not just getting america back in the competitive game and grow jobs locally that makes it so fair, most americans file on a postcard, that is what the public is ready for. stuart: you want to get the tax on american-made goods the go overseas, don't have time to discuss it but that is what you are trying to do and we appreciate that. >> that may be one of the most important provisions to bring jobs and companies back to america. stuart: appreciate you being with us. check the big board, the trump rally was up 66 points at $91.88, near record highs on markets across the board. president-elect trump's dinner with mitt romney, turns out you the viewer not happy about it, some strongly worded opinions which will bring you next.
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clearly, ashley, our viewers don't care for romney a second. >> they don't. you got to understand, many of the base say what the heck are you doing. looking what romney said about trump in the famous speech. he talks about the that he is phony, a fraud. that he promises, are as worthless as degree from trump university. he is playing the american public for suckers. how quickly we forget. >> how do you get over that? play that again, romney brings to the table business experience, successful experience. he ran the olympics when it ran into trouble. >> he did. but he couldn't get elected himself. i like the line about keeping enemies closer to you. i am still not convinced. >> bottom line, viewers don't
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agree on secretary of state. do we agree with this one? >> we do. >> we'll be right back.
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stuart: it is the tale of two political parties. who would have thought that today, november 30th, the republicans would be in such a difficult place from the democrats. we'll start with the republicans. it is very much trump's party now. rapid-fire cabinet appointments, policy changes, in taxation, education, health care, trade, security, immigration and a win for trump as well. the carrier corporation will not be sending jobs to mexico. 1000 of them will stay in america. the republicans seem to know where they're going and they are uniting very quickly under the trump banner. they are the can-do party, leading a can-do government. what a change. now the democrats. very different story. today there will be a secret vote who will lead the democrats in the house.
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will they stick with the old guard, nancy pelosi, or bring in new blood with tim ryan? they are split. not sure which way to go. later there is going to be a vote who leads the party apparatus. it is far, far left, keith ellison, versus the far left, howard dean. he is right out there on the left as well. what is the democrat policy of future? they haven't decided. they are the divided martie with no clear vision of the future. what a difference 22 days doth make. the third hour of "varney & company" is about to begin. ♪ stuart: all right. to your money right from the get-go, we're up 59, 60 points on the dow industrials, life-time, all-time high for the dow earlier today. this is the trump rally and still with us. same thing for the s&p 500, lifetime high earlier today.
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we're still up nearly 3 points. price of oil, well, we've got a spike on our hands. opec is trying to cut production by 1.2 million barrels per day. up goes the price of oil. i guess you could say that is opening -- trump rally in stocks. ashley: it is. we're still waiting to hear on opec for sure on these cuts. as we've said before, do you ever believe opec? probably not. they will say one thing, do another. just saying they are doing it will push the market higher, the oil market for sure. look, we're up 7% on oil. down a little bit earlier. a big push higher. market up 62. stuart: that is interesting, oil up, stocks up. webster, making a return. webster ratio. ashley: keep the royalties coming in. stuart: oil stocks going straight up. look at that conocophillips, 9% rally. that is a rally. >> let's get to politics, the trump victory tour kicks off in three cities tomorrow,
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des moines, iowa, cincinnati, ohio and latest addition, indianapolis, indiana, where the president-elect made a deal to keep carrier from moving 1000 jobs to mexico. this is the tweet from carrier. do we have that? we don't have that. nonetheless, carrier said we got a deal with mr. trump. the jobs stay in indianapolis, carrier corporation. look who's back? aj delgado, trump senior advisor. how are you? >> always great to be with you. stuart: will you be on the trump victory tour tomorrow going with the big win with the carrier corporation. are you going? >> i wish. we're busy the transition team work. i'm sure ohio will love what is to come. stuart: this is a big very tour and you're treating this as a win, aren't you? >> this is more of a thank you tour. mr. trump wants to engage all the supporters especially in critical swing states really coming out for him the way they did. part and parcel who he is. he doesn't want to forget the supporters.
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he wants to thank them. stuart: as everybody knows, president-elect trump did meet with mitt romney last night for dinner. reports suggest that mitt is the front-runner for secretary of state. there is a lot of intense opposition to mr. romney, particularly in the republican camp. here is what newt gingrich had to say. this is a piece from fox news. i'm quoting now. president-elect trump should get up every day and begin by looking at his own campaign promises. he owes his presidency to the people who believed in him, not to the schmoozers that had contempt for him as candidate but adore him that he is president. they don't like the idea of mitt romney becoming secretary of state. there is intense opposition. what do you say about that, aj, involved in the transition process? >> newt is right. the people believe in president-elect trump, precisely
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why as supporter first and foremost have full, faith and confidence this decision, this is his decision, that is what we elected him to do, we defer to his vision, his decision on these cabinet picks, that he will make the right choice. i completely understand some of the concerns about mitt romney, and about the other three candidates. there is currently four in consideration, i can share that with you. but at same time we have elected mr. trump to make this decision i know he will make it with the information he has more than the public has. remember he has met with romney multiple times and with the other candidates. he has information how these various four individuals would behave and would execute his vision as secretary of state that we do not have. we have to trust him to make the right decision. stuart: aj, hold on a second. we're indeed down to four finalists for candidacy of secretary of state. ashley, hole on a second. ashley: let's give you the names. mitt romney, rudy giuliani, senator bob corker of tennessee and general david petraeus.
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those are the four names believe we're whittled down to the four candidates. >> two of the four are romney and giuliani. i can't discuss the other two, there are four. he is considering all four right now. there is no clear front-runner. stuart: have we got right two on the screen? >> i can't see the screen. putting me on the spot here. stuart: read them out to you. governor romney. it is mayor giuliani. it is senator bob corker and general david petraeus. >> could be. stuart: leave them on the screen. which of those two are not on the list. >> two are on the list for sure. romney and giuliani. there are four in total. stuart: what about corker and petroleum? >> could be. can't say. there are four tremendous individuals. he is considering each in detail. he has so much on each and they have met and discussed this at length, i know it will be the best decision regardless who it is, that mr. trump is making for the american people. stuart: where is joan bolton.
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where is john bolton on that list. >> could be on the list. might not be. you will not get me on this, stuart. stuart: i will lay off. i understand i'm pressing hard. >> that's okay. stuart: steve mnuchin doing to treasury. will about ross, commerce. elaine chao at transportation. jason miller says there will not be in i new announcements in the next few days. any idea why no new announcements? this is jason miller. this is the communications director. nothing until after the weekend. what is the hold-up. he has been appointing people at break-neck pace. >> what do you mean the hold up? that is exactly why. we made quite a few appointments compared to past president-elects. he taking all the appointments, some he wants more time to think, more information. he will take his time. thank god he is. there will be a little bit of a lull next few days as heg cabint slots. stuart: have you been asked for advice? the. >> i don't have a direct hand in
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these discussions but i do hear things from time to time what talks are being had and what not. stuart: are you having fun? >> i'm having a great time. every time a pick emerges i hear about it, a little bit before the media does. i'm thrilled at picks so far he made. he once told me i'm never going to disappoint you months ago during the campaign. he certainly hasn't. each pick vindicates how much he is doing for the american public. i'm rooting everyone on. stuart: everyone has smiles on the program, including aj delgado. >> i try. stuart: thanks for being with us. we'll see you very soon. >> absolutely. thank you, stuart. stuart: i got this story, coming to us from tennessee, three people have died. wildfires around the great smokey mountains national park. 14,000 people evacuated. 250 buildings damaged or destroyed. state of emergency in place. the national guard, they have been deployed. 14 fires in 15,000-acres burning
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as we speak. wild weather to report for you, specifically tornadoes hitting the southeast overnight. the storm killed two people in tennessee, three in northern alabama. four children critically injured i should say. tornado watch remains in effect until noon. back to the trump administration. two new cabinet selections, steve mnuchin, chaired trump's finance committee. he will be treasury secretary. billionaire investor wilbur ross will be commerce secretary. they joined maria bartiromo this morning. listen what they said about economic growth. more "varney" in a moment. >> this is something next couple years we'll get to. this is very achievable. this is administration last eight years where we haven't had enough growth. our number one priority will be tax reform. we think that by lowering the corporate tax rate we're going to make u.s. corporations incredibly competitive.
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stuart: in a new "rolling stone" interview president obama blames fox news in part for hillary clinton's election loss. here is the quote. i think that part of it has to do with our inability, our failure, to reach those voters effect effectively, fox news in every bar and restaurant in big chunks of the country. part of it is democrats not working at grassroots level. who is here, juan williams, author of "we the people" and co-host of successful show, president five on fox news. fox news's fault. what do you say? >> i love working at fox news, that i am so impressed fox news is so effective, that the president would acknowledge we're in every bar and grill in
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america. stuart: that is not true. have you ever seen fox news on in new york city in bar or restaurant or anywhere in california? >> i have. stuart: you have? take me there, son. >> take you to connolly's bar and gym i work out has several screens and two are almost always on fox. stuart: they put that on because they know you're in there. >> could be, could be. stuart: don't you think for a moment here the president is ignoring the loss of 63 house seats, nine senate seats, 14 governorships and 1000 state positions, he is ignoring that and blaming fox news for the hillary's loss in the election? >> i don't think he is totally blaming it. the first sentence which he said, democrats themselves have not been effective communicators is key. i think result is what you're pointing at there. the tremendous losses down-ballot especially state races dominated by republicans but i would not ignore the message about the effectiveness of fox news or -- stuart: somewhat responsible for this, juan?
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you're part of fox news? you're a star, for heaven's sake. look what you did? >> what i did. i think white house and democrats wish i wasn't here. but that is their business. i got to say -- stuart: do they really? do they say something like that to you, when are you doing on fox news? do they say that? do they? >> yes. stuart: what do you say? >> you know, it is such a twisted tale, they feel like i legitimatize. look, fox news success, i think it is important to have balance and voice. think it is tribute to to i exist. why do you think that way. they think in different way, they see fox as such a powerhouse they would like to stigmatize it and stigmatize me and anything that goes along with fox. stuart: i'm flattered personally. >> you're flattered? tell me why. stuart: if i had impact on this election i'm extremely pleased about it. >> as journalists we should be pleased. the question is about the facts. i think their view fox puts their finger on the scale.
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as the president has said he wouldn't vote for himself in fox news. stuart: you know i don't do that. you know that, don't you, juan? >> true. stuart: i don't put my finger on the scale. >> but i think you have a strong point of view. it comes through. enjoyable for the viewers. i don't doubt that in the least. stuart: okay. let's move on, shall we? next case. >> but you don't doubt in fact you have a point of view? stuart: no. >> that is what the president is objecting to. stuart: i do. >> i will separate us from this present fascination with fake news and with the russians trying to say, oh, everybody tells lies so don't believe anything. i think that is corrosive and corrosive in terms of trust in the democratic process. i hope he is not talking about that because i definitely don't think fox is guilty of that. stuart: i think democrats haven't got a clue where they're going. i think they're bitterly divided. >> correct. stuart: secret ballot today, tim ryan going up against nancy pelosi for leadership of house minority.
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ellison and howard dean going up against each other for chair of the dnc. both are on the far left. nancy pelosi is on the far left. i don't know where you guys are going? you're split, you're divided and you're leaderless? >> i wouldn't say we're leaderless. president obama clearly remains leader of the democratic party in this juncture. big question about the role he plays going forward. in the house i'm sensitive to what you're i say i think pelosi, not being age it here, i'm pretty much a senior, in her 70s, her entire leadership team, jim clyburn, steny hoyer, in their 70s. gee they have lost the last three or four races. you've seen decimation of democrats in the congress. who is responsible? why don't we see some change or some necessary response that would lead to democratic victories? that is why i think it is interesting that tim wants to run, tim ryan wants to run. he can reach out do a better job reaching to blue-collar whites. stuart: you want to drag your party back to the center, don't
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you? >> they have to be effective. stuart: they're hightailing it off to the far left. >> here is the problem i have with this, stuart. i think republicans have been besieged by the far right. we see a great polarization in the american politics. at moment, i think people could argue that trump is not republican more of an independent voice. stuart: i would argue that the republican party is far more unified today than is the democrat party. >> at the moment because everybody is jumping on the trump bandwagon. a lot of never trump people hiding their heads at moment. stuart: called unity. >> romney coming over and is upping with the man he called a fraud? oh, my goodness. stuart: you enjoy this? >> oh, my goodness. stuart: will you be back on thursday. >> i usually come on fridays. i ran, wednesdays with stuart. i'm going to try that. get my blood pressure up earlier in the week. [laughter] stuart: you're all right, son. thank you very much. >> nice to see you, my friend. stuart: now this. a group of islamists living
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upstate new york, the town of hancock, to be precise, reportedly arming themselves, they're gearing up for a fight against president-elect trump. we'll discuss that with the judge later this hour. jeff flock, as you may know he was at o'hare airport yesterday covering a union protest. went to ask a woman a question for interview. she told him, i can't speak to you. he was pushed away by that guy, a union official. we'll have the whole clip shortly. look at this for now. >> stifle people's ability to talk. the woman had a good story story tell and you tried to cut it off. nice job. i'm glad you did that but you're just on live television. you're on the fox network. this guy just tried to stop me from interviewing somebody. i don't like that. i don't like that. >> we're not doing that. >> yeah, you are doing that. this guy did it right here. don't like that at all, neal. pisses me off.
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stuart: our own jeff flock was at a union protest in chicago's o'hare airport. watch what happened. >> diana, you said you worked here 16 years. >> i have just been advised not to talk to you guys. >> you have been advised by this guy here? >> yes. >> why did you do that, sir?
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you, come here, why did you do that? hey, buddy, seiu guy, why don't you turn around and have the courage to turn around and talk to me instead of trying to stifle people's ability to talk? the woman had a good story to tell and you tried to cut it off. so nice job, i'm glad you did that. but you're just on live television here on the fox network. this guy just tried to stop me from interviewing somebody. i don't like that. >> we're not -- >> we're not doing that. >> yeah, you are doing that. this guy did it right here. don't like that at all, neil. that pisses me off. stuart: well, jeff flock has been liberated from o'hare and he is now here with me. nice job, jeff. i got to take my hat right off to you. first of all, what story was the lady going to tell you that the union official wouldn't allow? reporter: well similar story what i said on your show yesterday when you told me to get off your screen. it was the side of the workers. it was this lady who worked for
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for six -- 16 years for a company that works o'hare. she works seven hours a day, gets no benefits or overtime. that is good story, potentially prounion story. seiu onlily wants to talk to people they have vetted, they know what they're going to say. this lady i found in the crowd. had a perfectly good story. would have helped union. couldn't control it and it never happened. stuart: did you get back to the guy, our viewers chasing him down the line there? did he ever get back to you or anybody from the union? reporter: the union, guy from the union, i walked up to the guy afterwards, after we were off the air, but we're off the air, you screwed up, pal. i was trying to tell your story. another guy from union, he was trying to clear the crowd. that is bs. that is bunch of baloney. they were trying to cover their rear ends on that. i'm sympathetic to both sides. i am. i play it pretty straight down
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the middle. but that -- stuart: look, we thought you did very well indeed. held your end up well, young man. good stuff. jeff flock, everyone. see everyone real soon. right now i got to tell you they are counting in the votes in house leadership vote. that is tim ryan versus nancy pelosi. we could get the results this hour. that is very important stuff. stay with us please.
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stuart: an islamist group with secretive compounds. one of them is known as upstate new york. they are being weapons. they say they are anticipating raised by the incoming trump administration. judge napolitano is with us. >> if they are complying with new york state law, which requires a permit to purchase and own and then a second permit to carry weapons, but talk about sidearms. rifles are completely different. it does seem a little creepy as if they are preparing to resist the government with arms. stuart: we have information they
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are training and tactics that would let you think that way. stuart: >> you are right. i don't know what they are preparing for. are they here illegally that they expect to be deported against their will and they will resist the deported to the times? then you have a serious issue in your hands. stuart: with the authorities be an decent legal grounds to say we've got a few questions to ask about your arms that you are bearing, so to speak. would that be okay? >> it would depend what they told the judge who issued the search warrant. the constitution requires they show probable cause, which means some evidence of criminal committee. not sufficient, not worry the crimes. great britain they can do that. they cannothear. >> order, order.
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stuart: what was his name? >> and sarah, what really going to last? stuart: back in the day, when you could own a firearm in great britain, you had to have the gun, handgun in one block area in the key to the locked area had to be in a separate area appeared to ammunition had to be locked in a separate area in the key to the locked area had to be someplace else. the police could come and knock on the door. >> with the exception of knocking on the door you describe the law in the state of new jersey. the law today requires all that separation but it does not permit a knock on the door saying where she are gone. that requires research work which requires the commonality. >> i don't know where this is going to go but it's creepy not
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illegal. >> are you okay with the new jersey status? >> it's far too straight and the people who don't own the first thing about handguns. if you want to get me going on this, it is written by politicians who believed the police can keep us safe. if anything it's demonstrable by as courageous and heroic as they are. they can't be everywhere there is crime or violence. stuart: maybe we are trying to keep children safe from their parents who do not handle guns properly. is something wrong with that? >> maybe we would like to defend ourselves if this monster that attacked the students at the night at ohio state had done it at the university of texas the the university of texas people in a/one person because two thirds of those kids carry sidearms. stuart: not to get you too riled , and -- >> my site a kennedy is here ready to support me.
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stuart: do you support the right to carry a gun anywhere on a time? >> at the constitution support. stuart: you are behind that part of the constitution. >> i've never heard that. and scary shaver watching this? stuart: i would like to carry on but i can't. let them have it, kennedy. nothing will happen to this compound, and islamaburg. >> some might issue a search warrant unless the probable cause because they fear was going on there. stuart: that was good. >> reteamed myself a little bit?
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in my back on tomorrow morning? hello, mr. caputo. stuart: settle down. president-elect trump has got to train what he calls the swap. god be washington. education, taxes, trade, a long list will reverse everything president obama has done in those areas and more. the aforementioned kennedy is a species to host a kennedy 8:00 p.m. eastern time on fox is this network. you are libertarian flat out that is what you are. that's her politics. >> that's my chin. stuart: what do you think of president-elect trump training the swamp with these appointments and reversals? >> i don't have a problem at all as long as it limits the size and scope of government. when you've got someone like steve mnuchin talking about reforming tax code for
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businesses, and he's now going to be the nominee for treasury secretary and making a more hospitable business environment and reducing taxes for corporations. i think that's fantastic and you will see the fruits of his labor. he's also been successful in the private sector. that is not the filthy enterprise. a lot of people think if you don't come from harvard and if you haven't been decades as some think tank or in government and elected off a state you are tainted beyond repair. stuart: rebuilding the military. >> i think we should rebuild the military. i'm okay with that. i think there is a way certainly of paring down the military and military spending and making the military much more efficient and honoring those who serve especially on the front line but the warriors who are the ones that would make cats that there is so much administration. stuart: he's not going to make the military necessarily more
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apparent. he's talked about that. you don't approve of that? >> in order to have tax cuts and in order to get the economy growing and in order to free herself from regulation, if there are three legs of a store, the other is cutting spending. he's also talked about entitlements and name. you've got to cut it somewhere otherwise it's all going to be to that service which is going to dwarf military spending by 2020. stuart: there is a whopping great expansion of its spending by private individuals, corporations or by the government. that is going to happen. >> for corporations spend money and hire people, they boost the economy. stuart: donald trump sent a message to protesters who bring the american flag. as you may know by now he said there should be tough consequences like stripping people of their citizenship may be a year in jail.
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nobody should be allowed to bring the american flag if they do there must be consequences, perhaps a loss of citizenship for a year in jail. listen to the reaction to trump's flagburning statement by sending houston i think her name is. she's on the view. watch this. >> i think that is what is scary when you have a president-elect, you know, saying things like that that people should be jailed or anything infringing upon our very constitutional right to speak and it reeks of a dictatorship. stuart: reeks of a dictatorship. >> i interviewed judge napolitano on the show last night all about this and burning the flag is constitutionally protected free speech. you can't strip someone citizenship. stuart: does it reek of dictatorship? >> no. he's doing this on twitter.
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i will talk about this on my show tonight and how important it is to maintain a contact that he had with the public on twitter and it doesn't mean you should take every single thing he says literally as concrete policy? no, absolutely not. it's dangerous and. ashley: back in 2005 than hillary clinton introduced an act which would have had flagburning punishable by a year in jail and a $100,000 fine. where is the outrage when she introduced that? >> on the left wants to do is control your life completely. there's a difference between legislation and social media. stuart: what time is your show tonight? >> 8:00 p.m. eastern. check the big board now up 81 points. back at 19,200 did there you have it. the s&p 500 is also higher. not as much as the dow in percentage terms but it does.
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talk about a rally. the price of oil. bus oil. bust them a oil. bus in which activists of 7%. still there. 4872. 7.7%. tiffany shares, best level since august of last year. a number of investment firms raised their price target on that stock a tiffany sales rose for the first time in two years. it's a begin another 2.5%. netflix announcing its going to let you download shows and movies so you can watch them when you don't have the internet like an airplane for example. included in terms but are you two are, ohio will be joined by a coal country congressman next. mostly green arrows on the screen by the way. most of them green. by the way, trump won in ohio by eight points. he won by almost half a million votes. who would have thought? >> not jill stein. stuart: president-elect trump's
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financial team, steve mnuchin tacked to a tax refund this morning. we will be back in a moment. but listen to what we have to say. >> we have a book plan working with the pulitzer group sitting down and discussing this with congress and this is going to be something that happens within the first 90 days of this presidency. we are going to have a major tax reform. biggest tax reform since reagan.
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>> i am sad that what they're fox business brief. record high for the dow and s&p. the dow is up 84-point and now you can say we are 10% for the year 2016 we haven't been able to say that just yet. another record today. the household spending to opec given a boost to energy overall. a look at the dow winners for the month of november. a great month with financials doing well. trump rally as well. a real winner at 23%. caterpillar coming that it helps ibm account for half the gains we've seen so far this month. you can see names of 37% and staples up 30% as energy gains in oils 48 ninetieths opec agrees to production cuts of 1.2 billion barrels a day. energy soaring up 6% across the board and google accounts. get a.
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>> i'm the only candidate which has a policy about how to bring economic unit opportunities in clean renewable energy is the key into coal country. because we are going to put a lot of coal miners have coal companies out of business. >> i'm going to put the miners back to work and she said i'm going to but the miners and the mindset of business.
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and then she comes over and try to explain your statement. that's a tough one to explain, wouldn't you say? stuart: that was president-elect trump and hillary clinton talking abt coal jobs in ohio. maybe that is why trump had a win and nearly eight points in the great gate of ohio. by the way comment that stated one of the stops on mr. trump's victory to her tomorrow. it goes to des moines, iowa from cincinnati, ohio and indianapolis indiana. commerce and till johnson is a republican from ohio. he represents part of coal country. is that what did it, congressman? bill clinton said about coal mining jobs and candidate john said about bringing back blue-collar manufacturing jobs or that's what account for massive a point that area. >> i think that has a lot to do with it. it really does. our region of the country is coal country.
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manufacturing this field there by coal jobs and coal-fired energy. absolutely a played a major part. >> i'm very sorry. i will break away for a moment. we've just got the result of house minority leadership election. >> nancy pelosi with 164-63. ohio tim ryan. can i get back to you? we just heard results and nine other democrats. i wanted your comment because speaker pelosi won 134-63 against tim ryan. that is huge victory. your comment, please. >> tim ryan and i., our districts border. we both represent parts of the mahoney valley. we've had a good working
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relationship. tim and i will continue to work together for the people we represent. stuart: can she bring him over across the aisle to the republican camp? why not? >> if you look at the voting results in the election result in the mahoney valley this past election, and i can tell you the people they would like to see tim ryan come out for her. that's for sure. >> that was kind of a sophomore question. vice president elect mike pence says repealing and replacing obama cared is the first order of business straight out of the gate. watch this. >> the president-elect has made it very clear he wants the congress when it convened in early january to take up the task of repealing and replacing obama carefirst. >> congressmen, i want a tax cut
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or spirit i presume you want the repeal of obama carefirst because you voted in the past. are you with me are going against obamacare? >> we are going to go after obama cared and i think it's essential we do that because that does represent taxes in a sense because when you look at the increase in premiums, the amount of money taken out of medicare to pay for the health care love, when you look at how that has caused out-of-pocket costs to go up for people i represent, loss of availability, loss of access, it has been a real, real problem. my region of the country is a region, stuart, that thrives on small businesses and this health care law has really hurt mall businesses badly. changes to overtime, changes to the 40 hour work week. all of those kinds of things have been done with dating.
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>> congressman, will be followed in cincinnati tomorrow i'm sure our cameras will show you close behind the president-elect. bill johnson, thanks for joining us good appreciate it. stuart: i want to repeat the result of the house minority leadership result. nancy pelosi 134, 10 minus 63. pelosi stays. the report from the government accountability office says the feds are on track to forgive $108 with his dad. we'll have the story. it's a bailout isn't it. back in a moment.
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call unitedhealthcare today to learn more about your prescription drug options and find the plan that's right for you. ♪ stuart: have got to bring it a big number again. 108 billion paid the government on track to forgive student dead in coming years. i think this is a bailout. more information on it. who better to go to. ashley: absolutely a bailout. steve cortez was absolutely spot on when he said basically this was enabled. a lot of kids to go to school rack up massive amounts of debt for a degree not worth anything. living back at home with him in god and have to pay it off. what about vocational training? germany's been incredibly successful putting a lot of youngsters through vocational
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training so they come out with skills they can use to get good paying jobs off the bat. trade to president obama did have a plan to forgive students at the students went to work for the government. then after a certain number of years, they were forgiven. how much of the 108 billion as part of that? >> or is it just write it off. which is what i fear. stuart: is a bailout. no question about it. back to the results of the democrat leadership foe. i've got the numbers for you again. nancy pelosi got 134 votes. tim ryan got 63. a command in an enormous win by the old guy. >> 14 straight years as leader of the highest elected democrat. what a shootout? what if she got right now? the republican-led congress, republican president. i've said this before.
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the face of failure all in their 70s that the hierarchy of the democratic party. they need new people, a breath of fresh air. tim ryan from ohio could've been that person the republicans are saying rae, fantastic. there is still the disconnect between the higher elitists in the democratic party and those people, the working class of this country. stuart: the democrats in the house of representatives are still led a nancy pelosi who comes from one of the most left-wing constituencies in the united states. san francisco, california. she has a priority i think of bathrooms over jobs. ashley: is absolutely true. that's ridiculous. stuart: that's not the program america wants to hear about. who wins i'm not one? jobs went out one. during the course of nancy pelosi's leadership of house democrats, they have lost 63 house seats. 63 have gone under her tenure.
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at the same time nine senate seats have gone to republicans. and you've got some more. >> i was just reading the vote in the making. the senior house democrat who did not back nancy pelosi said the disconnect between urban and rural democrats has never been greater mistaken with the status quo is impossible to have the message resonate. nancy bliss eight won the race and democrats do nothing to address the concerns. that is exactly what democrats will remain, in the minority. stuart: they are split, divided, but republican had the exact opposite appeared quickly check the markets. we are still way out. 66 points. s&p 500 also higher, but not as much. a big rally and the price of oil. opec trying to cut production. oil just reach $49 a barrel. we are not done. we will be back.
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stuart: when the news day it has been. what a great day. the trump rally the pelosi wins. you know what we need? we need a younger guy with new blood, a youngster to it away. neil cavuto, it is you. are you there? [laughter] neil: all right, son. there we go. i love it when you do that because i just feel so young when he do that. thank you, my friend. nancy pelosi will remain the democrats in the house. it is a big boat. she did get two thirds of that though. significant someone running against her got 63 boat. she has not seen a challenger this robust. keep in mind it is still a big victory but they are already talking about the

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