tv Varney Company FOX Business December 9, 2016 9:00am-12:01pm EST
maria: so you think the trump rally continues? >> i really do. i'm watching the banks because no regulation is going to help the banks. maria: hey, you've got some fans out here. thanks for coming out, you guys! whoo! have a great weekend, everybody. great to see you. >> thanks, maria. maria: dagen mcdowell, bruin brenberg -- brian brenberg, thank you very much. stuart, over to you. stuart: and don't forget the murphy children there, especially the lad with the very red hair. good luck, everybody. this is a rally for the ages. stocks up again, yes. we're going to call it what it is. it is the trump rally. good morning, everyone. 20,000 on the dow, it's very close. we're less than 400 points away. do the math, please. 1300 points up since november 8th. that's an explosive rally. and the experts, well, they didn't see it coming, did they?
maybe it's the conservative trump cabinet that's inspiring investors. they know business. the president-elect has entertained al gore, romm emanuel -- rahm emanuel, but none of them so far tapped for a cabinet job. do you want to know who's going to run the country? watch "varney & company." many of our regulars are in the new cabinet. and the latest pick goes to the labor department. he runs restaurant chains. he opposes the $15 an hour minimum wage. scott pruitt, he will reverse climate change. a retired general joins two others. so gear up for very big confirmation fights. the greens detest pruitt. the unions oppose puzder. and the left has no time for generals. meanwhile, the retirement
ceremony for harry reid, hillary clinton was there. she said fake news hurt her campaign. the dynamic new guy, 70-year-old donald trump, is everywhere. iowa last night, louisiana and michigan today. the army and navy game tomorrow. and he's tweeting all the way. wait for it, "varney & company" is about to begin. ♪ ♪ >> a lot of good, wealthy people fighting us, right? that didn't work. but those wealthy people aren't so unhappy now because the stock market's gone up so much because of us. [cheers and applause] and those wealthy people just got wealthier, right? [laughter] stuart: he's so right. that was trump last night having a go at his nay naysayers. they're singing a different tune now, and here's why. the dow is coming off its 13th record close just since the election. e. mac's with us, and she's got
the five stocks leading the dow. >> goldman sachs, unitedhealth, jpmorgan, boeing and caterpillar responsible for two-thirds of the advance in the dow since election day. stuart: can i say those are kind of an old line, industrial companies, get away with that? >> yes, you can. and, you know, the other good news is that this could extend beyond the 100 days, first 100 days of trump. if his agenda hits the wall in d.c., and also you may want to get in -- and when the fed raises rates likely next rate, that may be get in, buy on the dip. [laughter] that's what wall street's saying. stuart: i want to talk goldman sachs for a minute, lloyd blankfein says we don't have to worry about trump after all. perhaps because his stock is up 30% since the election. this is goldman sachs. >> yeah, not bad. in fact, the financial sector who got hammered during the housing and financial crisis has
come back very strong. the dow is up nearly 1300 points since the trump victory. goldman sachs is 400 points of that gain, so up 32% since the victory. financials as a whole, but goldman has led the way. no wonder lloyd blankfein is happy. stuart: you have to say optimism is in the air, isn't it? and a lot of that has to do with what i'm calling trump's can-do congress. scott pruitt, linda mcmahon among many others. joining us now former speaker of the house and author of "treason," his name is newt gingrich, and he's with us this morning. newt, conservatives, they've got to be happy with this cabinet, surely. >> well, i think most of them are unless they're, you know, so ideologically pure that nothing trump does is ever going to please them. sort of the george will variety who are never going to be happy with trump.
but the fact is this is a very business-like in the best sense of the world, people who are used to getting things done, serious people, people who have run big systems, and i think they're going to put their shoulder to the wheel as a team. and i know from my conversations with a number of them that they're going to have big plans starting january, and they're going to go to work to turn this rally into a reality. because it's going to take a trump reality to sustain the trump rally. and i think they are deeply committed to the dramatic economic growth. stuart: what's mr. trump doing with the left? he's had all kinds of lefties visit trump tower, al gore, rahm emanuel, etc., etc. is he just toying with them? >> look, i think he would like to be president of all the american people. he'd like to find a way to reach across, but he's not going to give up any of his core beliefs, he's not going to get into a bunch of bologna, and he's not going to pay off his opponents.
we'll see how realistic it is. but i think in a new president-elect, it's better to be open, and if somebody wants to come see you, sit down and talk to them. i think in the case of rahm emanuel, it would be very interesting if president-elect trump would have said to him what's your plan when you've got 700 people dead in your city? i'm very interested to see what you're going to do. stuart: what about speaker ryan who is going to trump tower today, do we understand? is that going to be a confrontation, what mr. trump wants? >> no. stuart: no? >> it's going to be a continue wall tug-of-war but not a confrontation. paul ryan is a very, very smart man who has spent years looking at and thinking about some of the hardest issues in american politics including the entitlements, including balancing the budget, including rethinking the entire code. and so -- tax cold. so he has deep policy beliefs. they're not incompatible with
trump. i would argue that his border adjustment tax that he and congressman brady have in their draft would, in fact, be remarkably helpful with mexico and china and others. i think there's a way for them to work together, i think they want to work together, but they're very distinct figures, and we shouldn't kid ourselves. paul ryan comes out of a long tradition going back to jack kemp, and i knew paul sitting in with us in 1994 when we designed the contract for america. he's a great guy. he does have firm principles, very opinionated in some ways, but he's also earned the respect of all of his colleagues. i think trump will learn that he can get a lot done with paul ryan. they have to have honest, frank discussions, but they're both capable, they're both adults, and i think they're very capable of negotiating internally to get a republican party that's united. stuart: mr. speaker, thank you very much for being with us
again this morning. we'll see you again soon. >> thank you. stuart: yes, sir. next case, the left attacking the pick for the labor department, andy puzder. racy ads that he ran for carl's jr., we're going to use this as an excuse. wait for it, they're coming any minute. rachel campos duffy joins us now. "the new york times" has already picked up on these racy ads and is attacking andy buttedder the on the grounds that -- puzder that he is a sexist. i can see a big fight coming. >> first of all, it's big, shocking news. "the new york times," are they also going after the movies and the television shows that are sexist? they're not, of course. stuart: look on your screen. >> i'm looking at it. it doesn't make me want to buy a burger, but maybe be i was a
16-year-old teenage boy, maybe it might make me want to do that. i have no problem with this. it's not that bad. there's a lot of worse things on television as a mom. stuart: this is very true. now, he is a big opponent of the $15 per hour minimum wage. >> and that's what is really about. it's not about these ads. stuart: that's true. >> people are shocked and clutching their pearls. they're upset about the $15 an hour. i'll tell you what, i have a teenage daughter, she's not worth $15 an hour, and i think -- i say that very fairly. i mean, you have to pay people what they are worth. and an entry-level teenager, you know, it's not the right price. and so that's what he's talking about. these policies are meant to help people, but in the end what it ends up doing is making employers not hire those entry-level jobs. stuart: i joust want to stress -- just want to stress it's going to be a big fight, because andy puzder wants to
roll back the two items the unions have been most keen on, $15 an hour and the overtime rule. do you think he will be confirmed? >> i do. i think he will be confirmed. stuart: okay. rachel campos duffy, mother of seven? >> eight, come on. [laughter] stuart: with eight kids, you can stay for a while. sit right there. thank you. [laughter] how about rudy jewel yapny? he's not been seen at trump tower in about two weeks. fox news is now reporting there may have been a falling out between him and the president-elect. we are on that story. remember, an american hero, astronaut and former ohio senator john glenn dead at the age of 95. glenn was the first man to orbit the earth. that was back in 1962. glenn returned to space 36 years later. he joined the space shuttle discovery, payload specialist at 77. that's him. he was the oldest person ever to go into space.
stuart: restoration hardware is in trouble. weak sales, you know, they sell expensive house wears, furniture. they're going to be down really big at the opening bell. how about coca-cola? the ceo, muhtar kent, stepping down. he's going to continue as chairman of the board, but that stock is going to be up at the opening. several developments on the secretary of state front. the main candidates are on your screen, but i want to know where has rudy giuliani been? i haven't heard anything about him for weeks. >> well, hasn't been seen at the golden elevators for at least the last couple of weeks. the rumor is, according to fox news, at least some of the
chatter out there is that there's been a bit of a falling out between rudy giuliani and donald trump. why? well, perhaps they say mr. trump was upset that giuliani was speaking at a "wall street journal" kind of conference shortly after mr. trump was elected and talked about himself as secretary of state. that didn't go down well or at least put himself in that position, so he's a bit out of favor, at least that's what some people say. who knows? you know, donald trump is his own man, and he will go his own direction, so don't read too much into it. but he's certainly been notable by his absence. stuart: fascinating, the comes and goings. let's get to the epa chief, scott pruitt. you can expect a big fight over this nomination. congresswoman marsha blackburn is with us, vice chair of the trump transition team. scott pruitt would reverse president obama's green agenda. there's going to be one ginormous fight in this nomination process. can he get in?
can he win? >> i think he is going to win with it, and i think that the american people are going to be pleased to have him there. the clean power plan is something that was done by executive order. you know, we need to remember richard nixon put the epa in place by executive order. and it is time for us to rein this agency in. they do not do cost benefit analysis. the burden on the back of american business and small business manufacturers has been absolutely horrendous. it's time to move it off. stuart: now, you're really warming us all up here because a lot of people want to see the epa reined in, and you're setting us up as, yeah, it's going to happen. do you think it's going to happen? you know, a lot of talk -- >> i think it is -- i think it is time for right-sizing that agency. and i think that it is time to look at what is and is not helpful. what actually participates in
getting us clean water and clean air. and then what is counterproductive. you know, stu, we are all for energy efficiencies, we are all for clean air and clean water. what we are not for is making it so difficult for us to utilize our natural resources and making it counterproductive when it comes to dealing with emissions. you know, there are countries that don't abide by some of the emission controls. stuart: you're vice chair of the transition team, i believe. that's your official position in the trump organization at this moment. what is mr. trump doing in entertaining al gore, leonardo dicaprio? these guys are big global warmers, and then he chooses scott pruitt to go to the epa. what's mr. trump up to? >> i have not spoken to him about that, but i will tell you that i am pleased to see that he is talking to people from all sides of the conversation. because your robust debate is
the best way for us to inform ourselves. as i've participated in this debate -- and i was on the select committee that nancy pelosi put in place when she was speaker and looked at climate change -- i've come to the position, as have many scientists -- and i'm not a scientist -- that, you know, some of the ipc reports, they were looking at decades as opposed to centuries, and it is important that you take the long-term view. climate and climate changes are cyclical. and we know that. and it is time for us to use some common sense and apply some common sense on how we preserve our planet but also how we allow people to have productive lives. stuart: quickly, can you tell us what it's like in trump tower? i know you've come and gone several times. i know you can't tell us who you spoke to and what you spoke about, but what's the scene like? >> optimism. enthusiasm and optimism. people are excited about doing
their jobs, which is to make america great again and safe again and one again. and i have to tell you, so many people are sending resumés. they want to be a part of the trump team. they believe in mr. trump and what he's going to do. stuart: marsha blackburn, as always, thanks for joining us. >> good to be with you, thank you. stuart: sure thing. actor judge reinhold arrested at love field airport. he reportedly became belligerent, took off his shirt, used foul language. and this. i'm going to call in the failure of socialism on a small scale right here in america. a diner in michigan, it had a marxist business model. not quite sure what that would be, but it's shutting down. [laughter] we're on it. we'll be back. [pony neighing]
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>> so many people can't get jobs. the unemployment number, as you know, is totally fiction. if you look for a job for six months and then you give up, they consider you -- you give up. stuart: that's des moines, iowa, last night, donald trump on jobs. which brings us to this, very interesting story. we can't resist. a diner in grand rapids,
michigan, known for its marxist business model, well, it's closed. it was worker-run. no bosses, no tipping, and it was decorated with murals of the ever-popular che guevara and chairman mao. it closed because it took 40 minutes to make a sandwich. [laughter] rachel campos be duffy has said with us because she wanted to get -- >> i love this story. [laughter] stuart: what are you going to say? >> well, first of all, chairman mao, that's enough to take my appetite away, so i would not be ordering there. stuart: it's a throwback. >> i know. it's like they have no idea about history. they have no idea about human nature, because we know that self-interest matters, and so your tip matters. and if you have a tip, you're going to work a little harder. by the way, 40 minutes for a sandwich? the worst capitalist restaurant can get you a sandwich quicker than that. [laughter] stuart: you happy now you've had your say? >> i've had my say. [laughter]
stuart: rachel, you're welcome back. it's good to see you today. >> thank you. stuart: now, in just a few minutes, well, the market opens again. the optimism, you've got to say, it is flowing. look at in this, the dow, the s&p, the nasdaq, they're all set to open today at new record highs. liz, when -- is this -- have we got people saying this is going to continue into the new year? >> yeah. goldman sachs and credit suisse saying it's going to the move into the first half, bull run will continue. what will derail it? you know, there are a number of things out there, i know you don't want to talk about it -- [laughter] but this is the fastest pace for any president since reagan to see the market pop like this, right, ash? >> absolutely right. energy sector, financials, industrials, they're all on fire and plenty of room to move on up. stuart: and yet it's going up despite the fact that interest rates are almost surely going to go up. >> that was baked in months ago. stuart: all right.
now, we are on trump tower watch, of course. moments ago kt mcfarland, "varney & company" regular -- not the, in she goes at the golden elevators. >> there she is. stuart: there she is, okay, getting into the golden elevator with james clapper or, outgoing director of national intelligence. yes, we'll be back.
♪ ♪ stuart: all right. we've got ten seconds to go, and we will open for business this friday morning. we're likely to go up just a little on the dow industrials. that would be yet another record level. here we go, 9:30 precisely, it is 9:30, and off we go. which way are we going? 16 points higher, 17 points higher in the very early going. the trend is ever so slightly up. how about the s&p 500? closed at a record yesterday, up another three points this morning. how about the nasdaq? record high yesterday, well over 5,400, up another 18 as of now. the price of oil, really not a player in the stock market game. it's at $51.50 as of now. and gold? remember when all the analysts were saying, oh, gold was going to go up if trump is elected? wrong, it went down, and it's down some more now, 1168.
it is friday morning, and ashley webster, liz macdonald, scott shellady and scott martin all with us today. we're less than 400 points from dow 20,000. real fast, when do we get there? first of all, scott martin, welcome to the show. >> thank you, stuart. i think we get there fast and furiously. this market has a lot of momentum behind it, it loves what it sees from trump so far. lower regulation, better fiscal policy, i think we see it by d dec. 31. stuart: scott shellady, 20,000 when? >> probably just after that. it's almost like the most ignored rally. we've got a bunch of children stomping their feet saying, oh, all right, i have to buy the market now, i guess. you see the market slowly but surely chugging along. we'll still have some bumps, but ultimately it's going to happen. stuart: and, liz, there's a
couple of big investment firms saying it continues well into the new year. >> yeah, goldman sachs and credit suisse. they just said it today. back to yo. stuart: really? [laughter] that was good. the russell and the dow transports have just hit record highs. that points towards more gains for the nasdaq -- for the big board. >> yes. stuart: check it out, we're up 15 points as of right now. scott martin, back to you. as the newcomer to the show, you've brought us, i think, three stocks that you like that you would buy now that are going to go up some more. start with wells fargo. >> so the financials here, i think financials have been off to the races since trump showed up here, and i'd say what's interesting about financials. wells fargo, obviously, with interest rates going up, it helps the lending business, the borrowing business if you're the consumer out there that wants that loan. but how about visa? visa's kind of the other white meat of financials. they're a process payer, but
they don't take on any credit risk. you can have banks and visa, bu. think trump makes that dow/dupont merger go through. so if you look at chemicals, industrials, materials, dow/dupont is where you want to go. stuart: it's fascinating but bordering on a couple of years, all we've talked about is big name technology stocks. suddenly, along come the industrials and especially the financials. look at goldman sachs. goldman sachs is up by a third, 30% just since the election on november the 8th. ceo lloyd blankfein says trump not be as dangerous a president as many people thought. >> well, that's what he said in an interview with a german newspaper. he said trump is level headed, a level-headed leader, says lloyd blankfein. he's a smart guy, smart businessman, and he may turn out to be much better than anyone
else that went after this job. all in all, he raptured around donald trump, he's also in rapture about his stock price. stuart: that's a complete reversal from what we saw about 35 days ago. now we're up 19, 18 points, 19,633. the nasdaq has just hit an all-time record high as well. i never thought i'd see it get back to 5,4, but it's there. coca-cola chief muhtar kent stepping down, he'll continue to chair the board after he leaves the ceo role. that's up 1%, coca-cola. very slow sales at restoration hardware. that stock's taken a big, big hit. nicole, tell me about it, please. >> restoration hardware, this stock this year is down over 50%. down 18% today. they were trying to get everybody to go into their membership program and wean everybody off of promotions and everything, and i can tell you they failed.
they failed miserably. it didn't work, and then they were forced to do markdowns. they have to clear out seasonal items now at discounted prices. they gave a down beat outlook, and they call this luxury furniture. i have to tell you courtney, our producer, combed through restoration hardware, ethan allen, pottery barn, it's not that much more than the other guys. you can get a couch for 5,000 or so, and -- it's a lot, still a lot, i agree. [laughter] but it's not triple pottery barn or ethan allen. so it's in the same realm. but i will tell you, they are not seeing the sales, and they have to continue the discounts because nobody's paying that. not me. stuart: two words nicole has never heard, bulk discount. >> i've been there recently, thank you very much. stuart: okay, i'm backing right off. [laughter] donald trump's getting slammed for picking hardee's and carl's jr. ceo andy puzder for labor secretary.
>> well, for the sexist ads, sexy, racy ads. stuart: racy ads. >> well, carl's jr. put out a press release touting its sexy ads -- stuart: you can tell you -- >> i'm just reporting. frankly, i don't care. but, you know, chuck schumer's blasting puzder. stuart: what's he saying? >> turning the labor d. over to someone who poses an increase in minimum wage, that opposes the overtime rule, it's a sure sign yet next cabinet was looking out for the billionaires and special interests instead of america's d. stuart: oh, you have to bring the billionaires in, don't you? now, i am confused about casino stocks. they are now doing well, but i know for a fact that earlier they were doing very, very badly. explain, please. >> well, there was a report out there that they had put a cash limit on how much you can take out at an atm on chinese
mainland atm cards, get that? because they want to stop the capital outflow. a lot of people taking yuans from china and converting them into hong kong dollars. they're trying to, you know, save some money. but that's not true. there is a limit on how much you can take out each time, but the daily limit has not changed and, therefore, those casino stocks have recovered which had exposure to macau. stuart: walmart is down 31 cents. they're investing more than a billion dollars in mexico. but, e. mac, this is not exporting jobs to mexico, is it? >> no. this is about, basically, where does walmart see its growth? it sees it in mexico. basically, you're seeing flatlining store sales in the u.s., rising labor costs, so wall-mex, that's what it's called in mexico, has been a cash cow, sweet 9% bump up in
sales there, so they're investing a lot of money in places like mexico. stuart: in the age of online selling, does anybody like walmart at $70 per share? scott shellady first. >> you know, i do like -- you know, when things are bad, i like walmart, but i think things, obviously like we've said today, things are getting better. i think walmart would struggle in an environment where things are on the upswing. i'm not really excited about it at 70. obviously, better prices are ahead, but not right here. stuart: okay. the daily story on amazon, here it is. [laughter] they are denying they have any plans to open 2,000 grocery stores. ash? >> well, that came from the wale wall street journal." brick and mortar grocery stores, they say. the same report said amazon is looking at multipurpose, giant brick and mortar stores, 30-40,000 square feet. amazon's reply? we have, quote, no plans to open 2,000 square feet of anything.
not even close. that's a denial, not to say they aren't actually thinking about it, 2,000 brick and mortar grocery stores. stuart: okay. scott martin, again, newcomer to the show, talk about the stock that by talk about every single day. amazon, would you buy it at 770? >> all day long. it's funny, we just talked about walmart. as long as amazon is in business in the united states, i am passing on walmart. amazon killing everybody. it's really interesting, stuart, about this story about the grocery store. amazon's an online retailer, that's their whole deal. i'm so to shocked they would go into this brick and mortar area where they've actually killed all their competitors. i love amazon. stuart: okay. look at the big board, please, we're up 19 points. there's a pattern we've seen recently. the big board opens with a modest gain, people wait to see if there's a pullback coming, it doesn't happen, and then it takes off in the afternoon. >> the serious money comes in. stuart: we've seen this a lot, i'm not suggesting it'll happen again today, but we are
following that pattern thus far. now we're up 20 points. portland, oregon, has adopted a surcharge on ceo pay that fights income inequality. what's this about? >> yeah. this is the first time we've seen an income inequality tax on business income. it's coming in the city of portland, oregon. if you're a ceo there, you make a hundred times the median income, your company's going to be taxed 10%. you make -- 25%, that's it. let me do it again. if you make a hundred times the median worker -- stuart: yes. >> pay 10%. 250 times the median worker, your company has to pay 25%. that's a big tax. stuart: isn't that wonderful? >> it will pay for those bureaucrats -- stuart: i've got to go around the block on this one. scott shellady, what do you think? if a ceo earns too much, local politicians put a tax on him or her. what do you say? >> you know what? whatever happened to democracy?
if they make too much, don't buy their stock and don't buy their goods. that's how you punish a ceo. i mean, stop it. if you don't like what they are doing, you have a voice. it's about voting with your feet. so if they're making too much -- these things are voted on, right? take your shares out of the company and stop going to those stores, period. stuart: god -- got it. scott martin? >> they tried to pass this in california a couple of years ago, and it failed. it's going to drive the business away, it's going to hurt the middle class because it's going to take jobs somewhere else. stuart: you know what, scott martin? you were good, and if you're not careful, you'll be back on this program. [laughter] >> that is a deal. stuart: and, scott, what are you doing over there in london, for heaven sakes? bring your cow jacket back. [laughter] gotta go, see you again soon. now, this weekend it is the annual army/navy game. huge rivalry and, more to the
stuart: gradually moving up, new highs. up 27 for the dow, 19,641. who would have thought? this breaking as of right now, the trump transition team tells us the president-elect is meeting with paul ryan, speaker of the house. this is congress meets the president-elect. what can they agree on? the meeting is being held now up
those golden elevators. mr. trump's schedule is packed, holding meetings this morning, then he leaves for baton rouge, louisiana, to lend a hand in the senate runoff election there. then he goes to grand rapids, michigan, tonight, part of the thank you tour. then he will attend the army/navy football game tomorrow in baltimore. 71,000 people will be there. former massachusetts republican senator scott brown is with us right now. i've got a bee in my bonnet about the army/navy game with the futcher commander in chief right there -- future commander in chief right there. it's going to be a spectacle, isn't it? >> as someone who served 35 years in the army, go army. what a fantastic opportunity, and i think he's going to get an overwhelmingly positive reception there, stuart. stuart: he dominates the news. he's always in the news. and that -- can i think doesn't he spend the first half on the army side with the fans of the army people, then he goes to the other side with the navy people,
and all 71,000 as i understand it, scott, are in full dress uniform, is that right? >> yeah. listen, it's going to be -- there's such honor and such pageantry at these games where the cadets all are in uniform usually, and you have others who are military supporters, families and the like. it's just a breathtaking situation there. so, hey, i'm jealous. i wish i could go -- [laughter] but i'll watch it, i'll watch it on tv. stuart: by the way, scott, on the left-hand side of our screens, we're sewing the s&p 500 -- showing the s&p 500 which has hit another new all-time high. a hot of optimism and enthusiasm this morning, as you can tell, senator. >> yeah, that's great. stuart: look, mr. trump is taking a lot of criticism because he's named three generals to his cabinet. now, you're a veteran. a lot of people are a little uncomfortable with generals, three of them, in the cabinet. do you think they've got a point? >> well, i think what's going to happen, the cabinet meetings are going to start with everybody
banging out about 50 push-ups and doing pt before you actually start. [laughter] i mean, the generals, they're good people, they've been fully vetted, fully tested, they've been trained by the best people and have trained the best people. who better to put in those positions? i mean, in israel, for example, all the military folks, it's a mandatory service. they love hing military folkses. yet in our country, oh, my goodness, we have generals. well, get used to it. you're going to have organization, you're going to have discipline, and you're going to have a hard-charging opportunity to move this country forward. stuart: i know you've been a frequent visitor to trump tower here in new york city. i know you can't tell me who you talked to and what was said. i understand all of that. but set the scene for us -- >> [inaudible] stuart: okay, go ahead, tell us. [laughter] >> yeah. listen, it was an honor, first of all. been there a few times. but when i went the last time, he looked very rested, number one. he was calm, he was in control, cracking some jokes. we have a very direct
relationship where we speak very, very directly to each other. i think that's kind of one of the reasons he actually likes to have me up there and talk or speak in any way, shape or form. that being said, it was like a beehive. everybody was working. everybody had a mission, and they're going a thousand miles an hour. and you're right, his torrid schedule is the envy of, i think, of every leader. and it's an example of he and his cabinet members and others are going to have to keep up with him. stuart: he's older than me. he's old. [laughter] but he doesn't act like it, does he? that's a fact. scott brown, you come and see us when you're here, okay? >> absolutely, stuart. thank you. stuart: thank you, sir. check those dow industrials. a predominance of green. it's not an entirely green board there when you look at the 30 dow stocks, but enough are up to put the dow up 26 points and counting. i'm trying, i'm really trying to do the math. let's see now, we're about 357
points and change to dow 20,000. did we have a graphic for dow 20,000? yes, we do. it's all ready to go. [laughter] let's see if we -- when we use it. [laughter] now, if you've ever been to paris, you know what these are. oh, look at that. love locks. tourists lock 'em, write messages on them and put them on the bridge -- the city's going to remove them because they were compromising the bridge's structure. they're going to auction them off, and guess where the money is going? it's going to refugees, yes. we'll be back.
stuart: well, we picked up a little more ground. now the dow is up 36 points. it is at 19, 652. green arrows across the board today. now, what's this about paris selling its famous be love locks? you've seen them on that bridge over the river seine. what's this about the money going to refugees? >> yeah. they will auction off ten locks at a time, and they want to raise money in solidarity to support refugees, giving it to support groups. i've got to say something, this is 65 tons we're talking about here. >> wow.
>> of locks. and it was so bad that it compromised the structure of that bridge. it almost collapsed. but if somebody said to me that, you know, instead of a necklace or, you know, a ring i'm going to get a love lock for you and put it on the bridge, reasons for divorce -- [laughter] >> splitsville, baby. [laughter] stuart: take your lock -- >> and keep it! stuart: serious stuff here. president-elect trump apparently didn't want to -- wants the government out of air traffic -- >> there's a movement out there to take the air traffic control system and the 14,500 air traffic controllers out of government control and into possibly a nonprofit organization. and apparently, donald trump is interested in this concept as part of a bigger revamping the infrastructure in this country including transportation. this, they say, would be more efficient, would save money, would get more improvements in technology. those against it say guess who
ends up paying more because of this? travelers will end up paying more in the price of their tickets because someone has to pay for it. stuart: it kind of reminds me of ron reagan back in 1991, i think it was. this intrigues me. first time in 20 years life expectancy is coming down. what happened? >> yeah. heart disease, it's respiratory disease. now life expectancy is at 78.8. and for men it's 76.3 years, and for women it decreased to 81.2 down about, you know, just a little bit flat -- stuart: life expectancy has been going up and up and up -- >> yeah. stuart: and now suddenly we hit a peak and we're starting to come down. that's very interesting. >> and they're blaming obesity behind heart disease and lower respiratory diseases as the reason why it's declining. stuart: what was it, over 78.3? >> 78.8 overall. for men it's 76.3. stuart: what are they doing to
us? >> women live longer, 81. stuart: all right, all right. [laughter] wait for it, there is a fight, a big one, brewing on capitol hill. trump's cabinet confirmation hearings, two in particular will create big fights. scott pruitt for epa, andy puzder for labor. the left's going to fight this tooth and nail, my take on that top of the hour. could be one of mr. trump's biggest rallies yet. he attends the army/navy game this weekend, that's saturday afternoon. i whet that the ratings will be astronomical -- bet. we're also following the trump rally, yes, indeed. 20,000 is not that far away. we'll be back.
you back to fight night. these two nominees will try to reverse obama's bedrock policies. two chunks of his legacy will be reversed. andy puts der opposes -- andy puzder opposes the minimum wage. and he has used racy ads to turn around the restaurant chains he runs. women's groups don't like that. there is scott pruitt at the epa. he wants to roll back the green agenda. reverse it and there is a big hole in his legacy. it will be a really big fight.
donald trump talks to the left at trump tower, al gore and leonardo dicaprio. and of course you can watch it right here. those hearings we'll gladly put on the air. those will be the policy debates we did not get during the election. the second hour of "varney and company" is about to begin. >> got to get the jobs. 96 million people out there. we have to get them going. you are going to have options. you haven't had that for a long time. on regulations we are going to eliminate every single wasteful regulation that hurts our farmers and small business.
on energy we'll cancel the job-killing restrictions on the production of american energy. and we'll put our people, not people from other lands. our people back to work in the process. it's time to help americans get off the welfare and get back into the labor market. my administration will follow two simple rules. buy american and hire american. stuart: you heard it, donald trump, buy american, hire american. we are enjoying the first fruits of the trump rally. stocks hitting all-time highs day after day after day. 13 days for the dow. we have a 19-point gain after a half-hour's worth of business.
lenore hawkins is with us and she manages the money of rich people. is that correct? >> yes, it is. stuart: 20,000 on the dow, when? >> probably will happen any day now. one of the things we are not seeing is a lot of selling pressure because most people believe we'll have lower tax rates in 2017, so why would you want to lock in gains and pay 2016 rates. so we'll probably see a lot of selling pressure in 2017. but if you look at the valuations today, be careful. if you look at the price to earnings ratio, it's back at the heavy levels we saw in 2009 and
2007. stuart: if we get the 4% growth we may well get in this economy, and it maybe sustained, the profits of american corporations will go up to match that growth. you can expect higher stock prices. doesn't that play into it? >> yes, but we are look for 30% improvement in 2017. when we look at what trump can actually get done. the regulation. he can get rid of a lot of that regulation on his own. when it comes to the fiscal spending and tax cuts, tax cuts take typically 12 to 18 months to get through congress.
stuart: they may well back date the tax cuts to january 1, which means those of us in those income brackets, we'll see the benefit very, very quickly if they do that? >> that would be great. but we are not positive how well he's going to be able to work with congress. i'm not super comfortable making investment decisions based o hope. stuart: what would you have buy at the moment? >> right now one of the ones that's been hit, it's on the longer term, it will continue to do really well, is amazon. you have got more and more consumers buying online. it's bouncing around where we have seen and lot of support. other one to look at is u.p.s. a lot of retail companies are
going more and more into online and that will benefit when you have to ship to customers. very * it was a lifetime high yesterday. reran microsoft which hit a new lifetime high. >> happy days. serious question. would you buy micro some of the at d microsoft at 61.43? >> no, i would wait for the pullback. we saw a similar rally after reagan won. through february the s & p gained 16%. by mid-march we have seen it
lost all of that. and we saw a similar rally with obama. they may yea, my guy got in and they buy stocks. wait until january and we'll probably see a pullback. stuart: it's great to have you on the show. you are a barrel of laughs right there. we are having a lot of fun it's great to see the stocks go up. president-elect trump choosing a varney regular, that would be andy puzder for labor secretary. elizabeth: they are saying wipe out the president's executive orders on that hit order. the labor-related mandate, sick
leave for paid contractors, costing taxpayers a lot of money. they are also saying stop the practice of ving only union workers doing infrastructure building. you should be able to hire non-union workers to do that kind of building. that matters. at the local level it disintegrates the infrastructure projects. the inner city guys don't spend it the way they should. stuart: the headlines, trump nominates a ceo who puts workers before unions. hillary clinton warning about fake news. this was yesterday. >> the epidemic of malicious fake news and false propaganda that flooded social media over
the past year, it's now clear that so-called fake news can have real world consequences. this isn't about politics or partisanship. lives are at risk. lives of ordinary people trying to go about their days to do their job. contribute to their community. it's a danger that must be addressed and addressed quickly. stuart: maybe hillary clinton was using if the fake news idea as an excuse for her maybe. was hillary using that as an excuse? >> absolutely. budi't see hillary clinton talk about the biggist fake news. cnn, the clinton news tonight work that's predicted a year ago she was going to beats donald trump. hillary clinton needs to sit
down, be quite, and go away. she had an awful campaign, she had no real message for the american people except me, myself and i. stuart: i hope i never cross you. you will tell me to sit down and go away. if the "new rk times" is going after andy puts de andy puzder y carl's jr. ads. but how do you feel about ads like this being run by a man who wants to be the labor secretary of the united states. >> you mean a man who actually runs successful restaurants in 44 states and 39 countries? what is so racy about these ads? was the "new york times" howling about the victoria's secret
fashion show when you have models scantily clad in outfits that's arouse men? no, it makes me want to go out and buy burgers. have you opened up a women's magazine? you will see racier stuff than that to get women to look sexy for their mates. this cities just another attack on a labor secretary who puts workers first, not unions. what did the unions do to the auto manufacturers and auto companies. we all know the story to that. stuart: i would like to ask you a question then let you go. i will be looking at vogue in the future. >> you should.
trust me, the layouts at "vogue" magazine put these carl's jr.'s ads to shame. trust me. stuart: i'll check it out. i just drove up "vogue" magazine sales, i think. stuart: you can come back any time you like? what do al gore, leonardo dicaprio and rahm emanuel have in common? they are all leftists and they met with donald trump in trump tower. look who is here, you remember him from "cheers." what does he think about trump as the blue collar president. he's on his way coming in the studio. you will see him momentarily on
stuart: paul ryan went to trump tower this morning. emerged and addressed the cameras. >> we had a great meeting to talk about our transition. we are excited to hit the ground running and put this country back to work. stuart: that was speaker of the house at trump tower this morning. mr. trump continued his thank you tour in iowa. he stressed frequently that he's going to keep jobs in america. >> my plan begins with bold structural reform to create
millions of really good-paying jobs. jobs. got to get the jobs. 96 million people out there, we have got to get them going. you are going to have options. you haven't had that for a long time. >> john are then berger consider john ratzenberger, his voice appears on every pixar movie ever made. can you get me an american accent? >> yeah, yeah. >> i learned from the beginning, he builds things. the founding fathers were all business people, farmers, business people.
so they unde understood common e how to put things together. before they run for office they should be required to assemble a coffee table from ikea. stuart: the worst word for a guy like me are some assembly required. you are not on this program because you are john ratzenberger or because you are a trump guy. >> it's to make people's lives much easier buying gifts. go to gift box.com and there is a whole menu of the different categories you can buy from. this is the varney and company
show. so you can choose from a different bunch of options which kind of gift box you want delivered to you. you can change your option and go from a pets gift box to a fisherman's gift box. all of that, thegiftbox.com. stuart: good idea. >> adding to the list almost daily because we buyout other companies. companies that already exist. and the idea came from my travels to america, when i was doing my show "made in america." i talk about the importance of hand tools in the trades. i run into people with a small company working out after the
garage of their basement. i thought why don't we take these companies, put them under one umbrella, go on the internet, and here we are. we have donna at least a million. -- we have already done at least a million. i'm not going to walmart today. stuart: how much? >> $25 -- stuart: depending on which option you choose. can be fisherman's stuff. are you going to leave that with us? >> we are going to leave these boxes, all of them. anybody on the crew have pets? grab them. every moisture shows up at your
house or uncle bob's house. when uncle bob gets tired of that he can switch over to the golfer box. it will come every month without any charge to anybody. stuart: you are looking for a tax cut from donald trump next month. you will make a fortune. especially with the trade. i talk about that. we are running out of carpenters, electricians, welders, and he gets it. stuart: thegiftbox.com. democrats in disarray. one reason why, the past 8 years a very slow growth in the obama economy. the clinton camp cannot stop playing identity politics. still insisting white
house before he leaves office. the insinuation is they had an impact on the election. stuart: there is an investment firm that started trading on the new york stock exchange. it's a pension holder. it started the trait up 8.5%. you could say the democrats are in trouble. controversial congressman keith ellison to lead the dnc, and they are sticking with nancy pelosi as minority leader of the house. they are not getting the message, i think we can say that. leonardo dicaprio and al gore and rahm emanuel, they all met
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stuart: the dow up another 30 points. big tech names. these stocks have not done well since the election. i would point out microsoft is at a new all-time high. the rest have not recovered to where they were before the election. let's move on to the democrats. if you watch this program regularly, i have been saying the democrats are in disarray. they did lose the election and
they are poised with uber leftist eat ellison for the dnc and they kept nancy pelosi in the house. the washington examiner headline reads "the collapse of the political left." arthur barone is the author and joins us now. why do you say they are collapsing when they are taking the reins of power within the democratic party. >> the democratic party won't be the power after january 17, 2017. the majority of people who have been taught new deal history and
tinged with marxism. they tend to have them supervised with national organizations. that's the arc of history that's president obama likes. but the fact is, it hasn't been getting there. and attempts to get it there have had politically clunky effects. we had a stimulus package and cap and trade. but since 2012 they have gone the other direction. the republican party and the thousands. stuart: why are they going further left? nancy pelosi still leads the democrats in the house and keith ellison may lead the party apparatus.
>> way out on the left, and there is a question, why do the lemmings keep heading for the cliff. democratic party position isn't as dire as that analogy suggests. most members are from the northeast, new england states going down to maryland and d.c. or the three west coast states and hawaii. they are from the part. america that cast 30% of the votes and 58% for hillary clinton. they don't have many representatives in the interior of the country. if you look at those numbers, it's 209. you get off the coast. you are looking at 209 republicans and only about 80 democrats. so tim ryan from youngstown, ohio ran against nancy pelosi.
he's from the industrial heartland. there aren't enough democrats from that industrial heartland anymore to be con city went in democratic caucus. stuart: what is mr. trump doing inviting so many people on the left to trump tower? we have seen al gore, we have seen actor leonardo dicaprio, chicago their rahm emanuel. they -- chicago mayor rahm emanuel. what is the president-elect up to? >> some are saying he's up to a dental operation, defanging some of the opposition. i don't think there is harm in having people of different views who will listen to him. most people, whatever you think his political philosophy, is an excellent actor. they are a little nervous, a
little queazy in the presence of a president or president-elect of the united states, those are probably constructive conversations for them. for the president-elect to talk to the mayor of chicago. he's an important figure. he had experience as chief of staff in the white house and is in a leadership position in the house of representatives. it's smart to listen to rahm emanuel, whatever he has to say. stuart: michael barone, i'm out of time, but you can come back any time. >> i will be here at 5:00 a.m. looking for you. stuart: i happened to walk into my office at 3:45. how does that grab you? look who is here? it's friday morning, 10: eastern time.
juan williams, the author of "we the people." welcome back. are you ready for this? >> absolutely. love it. what the devil is your party up to going for keith ellison way out on the far left and nancy pelosi who has not led you to the promised land. >> let's look at keith ellison. ellison has been endorsed not only by elizabeth warren and bernie sanders, but also by charles schumer who is going to be the leading democrat in the senate. much of the allegations against ellison have to do with how he spoke about israel in the past. stuart: he's called an anti-semite. >> why would they endorse keith ellison? you have to remember young people in this country voted overwhelmingly for hillary clinton.
they are the activist base of the democratic party. stuart: you are saying the future of the democratic party are young people who lie on the far left? >> i don't know about the far left, but if you need younger, more activist people who were in some ways turned off by hillary clinton because they saw hillary clinton as the stat us question and they wanted someone with more energy and more forward-looking ideas and specific for blue collar workers. stu were when they get into their 30s and 40s, they marry, they have children. you think they want the far left in the white house and in congress? do you really? high taxes, more governments. bureaucracy? that's what turns them on? i don't think so. >> if the way you describe it wouldn't turn anybody on.
stuart: i come from a socialist society. i'm a refugee from that nonsense and i don't want to see it come here. >> i can match you step for step because i'm an immigrant from a country that to my mind is socialist and oppressive and i'm glad to be arican. but i'm telling you young people in this country having grown up under obama i think they lean strongly democrat and i think they will continue because that's the pattern we know about voting. stuart: young people in this country have never known prosperity. for 8 years we have had this bureaucracy running things. >> bill clinton was a democrat and the country was quite prosperous. since barack obama became president we saw steady growth. not at the rate we like. it's because we are going to
grow this economy 4, maybe 5%. we are going to cut taxes and stimulate the economy. that's what young people will see to have a taste of growth and vigor and life and a taste of american capitalism. >> we can see consumer confidence sky high. we can see gdf growing. we can see gas prices low. >> this is so ridiculous. you are running an economic show for our business family? that's ridiculous. the fact is there was so much anxiety about trump and uncertainty about the outcome of the election i think a lot of people took a defensive posture with their investments. i think hat has come off. it would have comeff with clinton. we ignore the fact that barack
obama laid the space with consistent steady recovery and ignore the fact that this would have happened even if hillary clinton would have won. stuart: it would not. >> of course it would. if we are talking about the stock market on the screen, lots of investors uncertain about what was to come, they have abandoned their defensive posture and put money back into the market. stuart: do you ever see yourself joining the republican party? >> i have two sons in the republican party, so yes. stuart: you could joint republican party and join the aisle. >> we have so much in common but i'm an uby the bootstraps self-reliant person. but i don't take it to the extreme and imagine that capitalism does not need some
governors and some guys to protect people. stuart: level playing field, that's what we need. get government out of it, stuart. >> i don't want socialism. i want capital i am. but i also want caring people. stuart: republican juan williams in the making right there. astrazeneca has resumed trading. it's got good news on its bladder cancer drug. donald trump introduces his pick for ambassador to china. the navy-army game, the
ashley: scott pruitt tapped to head the epa. >> i think it's time for right sizing that agency. i think it's time to look at what is and is not helpful. what actually participates in gig us clean water and clean air and then what is counter productive. stu, we are all for energy efficiencies and clean air and clean water. what we are not for is making it so difficult for us to utilize our natural resources and making it counter productive.
other than that, they have been wonderful, right? stuart: that's the president-elect talking tough on china last night. mr. trump did pick iowa governor terry branstad to be ambassador to china. he's getting off to a different start. >> that and the call to the president of taiwan laid the foundation for a different relationship. the things he put in that speech is what those familiar with chinese relations have known for a long time. it's true courts in china are tilted against foreigners. stuart: but he's saying it in an addressive fashion publicly. >> this is what he talked about when he said he wants
advantageous trade terms. he expects people to live up to the commitments they have made. then there is the military steps they have made to try to make the south china sea into a chinese province. stuart: he does it with egg. >> that's at least what it is. you could use the taiwan relationship to play off against their performance in the south china sea. it was important he mention what i have seen for the last 15 years. china says they are being helpful with the north korea nuclear weapons program. stuart: can i go off on a bee in my bonnet about the army-navy game tomorrow? they will be cheering on the new commander-in-chief.
>> being a baltimore boy, myself, i think it's a great thing he's coming to the game. i think he has demonstrated not just during the campaign. but during the month of the transition already that he knows how to capture people's attention. where is barack obama in his last army-navy game. stuart: did he ever go? >> i'm not sure he did. stuart: the man is the president and he's almost disappeared from public view. >> thank god. january 20 can't come fast enough. stuart: you are awfully hashly . >> i'm just tired after 8 years. we need a break. i think's been weak in international affairs and expand the power of the government domestically. he has it exactly backward in both areas. stuart: thank you for being on
board today. a quick update for you. trump tower watch. we are just learning monday mr. trump will meet with former pennsylvania senator rick santorum. is that general flynn going in? he will also meet with carly fiorina. the former ceo of hewlett-packard. everybody is coming into the golden elevators. keep that camera on me. why? because you the viewer are upset with me. you have harsh word for some of the things i said on this program. i will read you the harshness in a moment. donald trump says he will lower drug prices. next hour a doctor who says if trump can do that, he will save lives. we live in a pick and choose world.
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stuart: we receive thousands of comments on our facebook page every single day. our viewers are not always happy with the things i have to say. we have this from julie. varney, have you been drinking the kool-aid? there is no man made climate chang. you are much smarter than to believe in the leftist global
b.s. i don't have a strong position on global warming, do you? ashley: i'm an open mind. certainly the polar caps the are melting. it could be cycle. stuart: i don't think the policies we put in place to try to bring down the temperature of our planet -- i think it's nonsense. elizabeth: yes, i agree, too. the u.s. pays a lot of money when countries like china and india are doing their pair share of polluting the environment. dick cheney says it's happening, john mccain says it's happening, governor george pataki, republicans are saying climate change is happening. stuart: last one is from walt. stu, fan your show. disappointed i have yet to hear he are or see anything of real
value for the average investor. telling me each date market is up or down. elizabeth: it would help if you would listen that the market would be going up. i hear from this gentleman is saying. you have the bears of the world coming on saying the market is going to crash. the people who stayed out didn't make money. ashley: we have great guests who give you insight into the market so just listen in. charles payne in particular. piy life. so when my asthma symptoms kept coming back on my long-term control medicine. i talked to my doctor and found a missing piece in my asthma treatment with breo. once-daily breo prevents asthma symptoms. breo is for adults with asthma not well controlled on a long-term asthma control medicine, like an inhaled corticosteroid. breo won't replace a rescue inhaler for sudden breathing problems. breo opens up airways to help improve breathing for a full 24 hours. breo contains a type of medicine
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runoff senate election there. remember when republicans didn't want to be seen with him? that's changed. then he goes on to michigan for another thank you speech, big crowd. tomorrow, huge crowd. he attends the army/navy game. 71,000 military people in full dress uniform. gee, do you think they'll be cheering the new commander in chief? the point is, donald trump already dominates our national life. he's been president-elect for, what, 31 days? president obama has been overshadowed, the democrat elite only turn out for the retirement party for senator harry reid. maybe we'll grow tired of our entertainer-in-chief, but apparently not yet. we've never seen anything like this before. much of america is flat-out glued. the third hour of "varney & company" is about to begin. ♪ ♪
stuart: of course we'll get to politics, but first we'll look at money. look at that. the dow jones industrial average after its 13th record high since the election yesterday moving on to yet higher ground now. 49 points up at 19,664. we've not been there before. the trump rally -- and that's what it is, the trump rally -- marches on. the price of oil still around $51 per barrel. no impact on stocks today. look who is back? you just can't keep her away. [laughter] co-host of the very successful show "outnumbered" danes to join us on -- deigns to join us on "varney & company." >> thank you for having me. you know me, i always do my homework, stuart varney, and i just got off the phobe calling every -- phone calling every trade desk that i could. i used to talk to those guys all the time just to get color, what is really happening here? participation in this this rally is high, so it's not like main
street's not involved. they want to get involved in this rally. look, it shouldn't be a huge shock. you've got a president-elect who is promising tax reform, lower taxes, he's business-friendly, he's promising to roll back regulations that have stifled business. so it shouldn't be a shock to anybody. but i will tell you that i just had a lot of conversations me asking what happens when he actually becomes president next year? do you get a buy and then a sell when the fact happens, when he actually gets into office? that's not unheard of in the stock market. so be prepared for maybe something like that. but other than that, there is sheer optimism coming from wall street. stuart: this rally seems to be predicated on the idea that next year you get bigtime growth, and with bigtime growth comes more profit for american corporations. up go stocks. >> already. stuart: that's what -- >> and you're hearing and seeing that optimism in numbers that companies are reporting. it's amazing. it wouldn't be such a shock, would it, if analysts would have
actually told people that a trump presidency would create a rally. but now where does it end? we're looking at 20,000, then it's 21,000 -- you're going to have fun with this, aren't you, stuart? stuart: of course we are. we own it. [laughter] no, it can't be this week, well, it could be this week, next week, week after, when do you think? >> i'm not making projections. we're not that far off and the stock market's been volatile, so i wouldn't rule it out. stuart: i need your opinion -- >> please. stuart: -- on the nomination of andy puzder to be the labor secretary. there's one particular angle, and those are the racy ads. there you go -- >> you know, you have to roll video on beautiful -- stuart: wouldn't you? >> yeah, why not? look, i have no problem with these ads, i'll tell you why. these are extremely wealthy people, many of them models, supermodels, actresses paid to be involved in these commercials. this is capitalism.
for the left to be demonizing him more being a man who employed 75,000 people in this country alone, stuart, is a bit hypocritical. stuart: okay. i ask mr. puzder some tim about these racy ads. here's what he said. >> everybody in business has a demographic target. for us our focus is young, hungry guys, and attractive, beautiful women in bikinis get man to watch these ads, and they sell burgers. if i think i talk about politics or economics, it's different than when ceos come in on social issues. that's different, i think, than trying to explain to people why a particular policy might have good implications or bad implications from an economic perspective. stuart: there's a lot more to this. liz, what else -- >> yeah, this could come up at the senate confirmation hearing. five years ago carl's jr. put out a press release, criticism about objectifying women. here's what they said in this:
we believe in putting hot models in our commercials because ugly ones do not sell burgers. the head of marketing -- >> well, that's obviously, those were not -- those words maybe should have been -- stuart: expunged from the record. >> that was a statement? >> rae, a press release -- yeah, a press release. >> and you know what? he'll have to answer for that. but his company does a billion dollars in sales annually. it's a very successful company and, listen, this is advertising, it's marketing, they know what the demographic is -- stuart: everyone should get into this. >> i miss you, stu. stuart: like a hole in the held, i'm sure. [laughter] stuart: that was an old-fashioned expression years ago. what do you make of the army/navy game? i say it's going to to be the biggest trump rally ever. >> a time-honored position. he sits on the army side first, the navy side for the second half of the game. i expect it will be quite a moment for all of those people
that you see right there, for army, for navy and for the country. i mean, it's such a wonderful, time-honored tradition. i look forward to watching it. stuart: okay. the ratings will be spectacular, i suspect. sandra, it was great having you back. we appreciate it. >> that wasn't that painful. [laughter] thanks, stu. stuart: let's bring in katrina pierson, former national spokesperson for the trump campaign. katrina, trump is everywhere. he's going all over the place in the next few days. michigan later on tonight, the army/navy game tomorrow. is he rallying the base to make sure things get done? >> well, surely no one expected the president-elect to wait to get to work. this is one of the things he was talking about he was excited to do. of course he's out this rallying the base. he's out there wanting to commit to people to keep those campaign promises. he's going out to those states that helped him get elected to say thank you. when was the last time we've seen a president-elect do that? stuart: i do want to talk to you
about president-elect trump entertaining people on the left. al gore, leonardo dicaprio, rahm emanuel. he talks to the left, but he doesn't nominate the left. he nominates conservatives. is he kind of just playing with the left? >> no, not at all. look, there's one governing principle of the incoming president, and that is simple. it is america first. mr. trump promised early on in the campaign that he would sit down and talk to anyone that had ideas, and he wanted to get to know all of the philosophies that were out there because he does want to be the president for all americans, and that means listing to them. whether or not there's any sway, that'll be up to him. he wants to govern with common sense, but he also wants individuals who didn't vote for him to know that he is listening and that he does want to be the president of everyone. and part of this tour is inviting those people to come into this movement, because this is a common sense government movement. stuart: now, we're waiting for him to appear at the rally in baton rouge, louisiana.
he's there ahead of saturday's election. was he invited to baton rouge? >> i'm not sure, but this is something that is also important to the president-elect. he wants to make sure that we get good people elected in office to help pass his pro-america agenda, and this is a manifestation of that. stuart: katrina pearson, thank you very much, indeed. i was cut right off there. my train of thought was off someplace, and i do apologize. [laughter] come on back real soon. >> will do. stuart: thanks very much. as we said, we're waiting for a trump rally in baton rouge, louisiana. he's there ahead of the special election which is tomorrow. that is the trump plane, that is at laguardia airport. i don't know whether he's on that plane or not, not yet on the plane, but he's going to get on it soon and off he goes. and, of course, this friday morning we are remembering an american hero. astronaut and former ohio senator john glenn dead at the age of 95. glenn was the first american to
orbit the earth in 1962. he returned to space, by the way, 36 years later. he joined the space shuttle discovery as a payload specialist at the age of 77. he's the oldest person to go into space. and donald trump paid tribute to him last night. listen. >> pearl harbor was attacked, one man who immediately enlisted to defend his country was john glenn. he was a giant among men and a true american legend.
stuart: okay. president-elect trump's decision to have oklahoma ag scott pruitt head up the epa, that sets the stage for a major political battle. the left is apoplectic about this. chris stirewalt is with us, fox news digital politics editor. if scott pruitt becomes the guy who runs the epa, odds are he sweeps aside president obama's
entire green agenda. there'll be a big fight about this. >> well, right. the matter of his confirmation will be litigated around the question of manmade global warmings which is, as we know, ceased a long time ago in american politics to function as an economics issue but more of a religious or social issue. democrats and liberals feel very deeply about climate change, it is a core part of their world view, it ties it all together. and for republicans and conservatives, they still see it in economic terms; how much regulation versus how much economic growth. pruitt is definitely far on that side. he is a clear skeptic of not necessarily there's manmade global warming to some degree, but whether or not -- how many trillions ought to be expended on america's behalf to deal with that. it will be a rancorous fight on capitol hill, that is a certainty. stuart: it's likely, isn't it, that democrat senators will have to define their position on global warming, where do they
stand. that's going to come out in this debate about scott pruitt. >> well, their -- it is an article of faith, a matter of unquestionable in the democratic party that manmade global warming is real and that the crisis is present. that's not something the democratic party has much debate on. what will happen also is that on the republican side there are some senators, people who have taken more moderate or even liberal positions on this issue or who represent blue states where suburbanites are concerned about this issue. they're going to feel pressure to vote against pruitt on this question, so this is going to be thorny. but because the stakes are so high, because president obama did his global warming and climate agenda through the epa instead of passing regulations through congress instead of cap and trade or a carbon tax or other things, he didn't do that. he used regulatory regime at the epa, that means it can all be rolled back. stuart: got it. i've just got to refer to what's on the left-hand side of the screen.
we've got this breaking news. 21st century fox, parent of fox business network, putting up an offer to buy the rest of sky in britain. the offer is considerably generous -- >> it is. it's a premium. the report is that the independent boards of both entities have agreed to this deal. fox, as you say, stewart, owns about 39% of sky already, so -- stuart: so they want to buy the rest. >> they want to buy the rest. stuart: and 21st century fox is the stock we're quoting, and it's up significantly amid this bid for the rest of sky in britain. >> exactly right. stuart: chris stirewalt, come back onto the screen please. there are reports that mr. trump wants to privatize air traffic control. maybe he's working on a deal to make it a nonprofit organization. this very much fits the bill of negotiate, negotiate with private enterprise. that's what it fits the bill for, right, chris? >> right. but as ronald reagan learned, when you mess with air traffic
control -- reagan came out of it great. he fired the controllers for participating in an illegal strike. he did it, it was an enormous controversy, and if there would have been disasters, if there would have been problems, it would have been a nightmare scenario for the agenda and for reagan. they made it through, they made peace, they got out of it in a better way. trump, if he takes on air traffic, anytime you deal with public safety issues, anytime you touch that stuff, you've got to be real careful because people get real nervous. [laughter] stuart: well said, chris stirewalt. [laughter] we'll see you again in the very near future. thank you, chris. i want to reiterate thereaking news we brought you moments ago. 21st century fox, parent company of this network, putting in an offer to buy the rest of sky, a british news operation, the rest of sky that they don't already own. interesting that 21st century fox, the buyer of the rest of sky, that is the stock that is way up, 3% as of right now.
>> and sky is moving higher by about 33 -- stuart: there you go. i couldn't get it on the screen -- [laughter] they're up 30 odd percent, up by a third. >> popping. stuart: both sides win on this one. good stuff. all right. the trump tower watch continues. mr. trump is going to be heading to baton rouge momentarily, i think, he's heading there. he's going to hold a rally. it's been a very busy morning. he's already met with paul ryan. we're on it. first, listen to what mr. trump had to say last night. >> thank you to the great, great people of iowa. a lot of good, wealthy people fighting us, right? that didn't work. those wealthy people aren't so unhappy now, because the stock market's gone up so much because of us. gotta get the jobs. 96 million people out there, we've got to get them going. they want to work. we will cancel the job-killing predictions on the production of american energy, whether it's agriculture, medicine or military technology, we want the
>> really enjoyed coming up here and meeting with the president-elect. we had a great meeting, talked about our transition. we're very excited about hilting the ground running -- hitting the ground run anything 2017 to put this country back on track. stuart: paul ryan was short and sweet. what you're looking at now is the trump airplane at laguardia, looking like it's taxiing for takeoff. mr. trump is on his way to baton rouge, louisiana. baton rouge -- [laughter] where he is going to, i think he's going to hold a rally in support of the republican candidate for the senate seat, the runoff election is there tomorrow. now, connell mcshane is right outside trump tower in his usual position dodging the buses and the taxis -- oh! we just heard from paul -- yeah, there you go. [laughter] now he can hear me. we just heard from paul ryan. it was about 20 seconds. he didn't say almost anything at all. did you note anything in the background about what he might have talked to the president-elect about? >> reporter: this was one of
these meetings that was kept on the down low, so to speak, and it was over almost as quickly as it began. ryan came, he went, he made those comments that you played, and that was about it. remember, these two, of course, have quite the history. you remember the rally during the campaign out in wisconsin which mr. trump was not invited. since then bygones have been bygones, and they're said to be working on many things. that's it, be putting up a united front, working together. it's funny today we're here, as you said, at trump tower. i missed my trip out to laguardia with the buses behind us. the transition officials give us a briefing every day. they said mr. trump has met with, like, 90 different people during the transition. if nothing else, gives you an idea how broad his meetings have been. over the weekend he's going to go, after this thank you tour today, to the army/navy game. he'll spend half the game on the army side, half the game on the navy side, so that's fair and balanced. the chris wallace interview, and
on monday, institute, it's kind of interesting, carly fiorina scheduled to have a meeting with him in trump tower. we'll see what comes out of that. stuart: are you going to be holding a meeting at some point, connell? everybody else has been there. [laughter] you just missed another bus. [laughter] >> reporter: yes. we had breaking news here moments ago, it's one of our new york city taxi cabs side sweeped a bicycle -- sideswiped a bicycle rider, but everybody seems okay. that's about it. stuart: i'm going to repeat that news we brought you moments ago, 21st century fox put in an effort to buy the rest of sky british news operation that they don't already own. sky's stock in britain up 28%. 21st century stocking in america up about 3%. so 21st ntury fox is buying the rest of -- >> yeah. >> they own 39% already of sky. stuart: both stocks up, that's
from mexico. i want to take people that are leaving, like carrier, bring back business. to bring back our jobs. we're going to keep our business here, we're going to bring our business back, we're going to bring jobs back to america, folks. [cheers and applause] we're bringing jobs back to america. stuart: i don't know how many times he's said it, but he said it a lot last night -- [laughter] bring jobs back to america. now, look who's here. before you put -- okay, you put the camera on him. [laughter] now, this man was a hillary clinton fundraiser, a barack obama fundraiser. you've raised all kinds of money for democrats for many, many years, but now because donald trump is pulling, trying to bring jobs back and because you run a high-tech staffing firm, you approve of donald trump, or don't you? >> well, i approve of what he's doing in bringing jobs back to the united states, which i think is great. [laughter] it's great to be here. stuart: you're the guy who laughed your way through hillary clinton's campaign. you were sure she's going to
win, and you were sure that donald trump was just awful, and now you've changed your tune, haven't you? >> well, on the job creation in the united states, i think it's great that he's called on ceos directly. i think it's wonderful to tell them to keep jobs here. he focused mostly on the manufacturing sector, and i think it's been somewhat overlooked. millions of jobs have been lost in this country going offshore, particularly to india which is the end center of i.t. off -- end tenter offshore. does the best of what they do offshore, and it's actually cheaper than offshore. the problem is no one factors in productivity, indirect costs, hidden costs. but if you measure any of that, we're actually cheaper than offshore. stuart: didn't you see this coming? you're a huge backer of hillary clinton. didn't you see that this was coming, that donald trump would give us growth? he's been saying for years he would bring jobs back, he'd create jobs in america.
why were you so blind, harley? [laughter] >> well, we'll see. it's still early, everyone, right? we know that. so let's see what happens. but right now i championed his mission to bring jobs back to the united states. stuart: okay. now, if keith ellison, the far, far left guy -- [laughter] if he runs your party, will you leave it? >> that's a real tough question. we'll see what happens with that. i don't know. but right now what's important -- [laughter] jobs in america. stuart: your party is going way out there to the left. nancy pelosi reelected to another term as leader of the house democrats, keith ellison, very likely to become the chair of the dnc. come on, harley. there's no room for you in that party. you're a centrist democrat. you're a decent guy. >> well -- stuart: did i just say that? [laughter] mark it down. >> i like very much that trump focusing on bringing jobs back to the united states. i hope he stays with it. because if you really factor
in -- i'll give you one example, one data point. if you speak to cios, people who work in corporations and manage technology departments, and technology is a component of all businesses, they'll tell you that 1.5-2 equal, offshore people equal one american resource. so that alone makes it cheaper in the united states. if i just use numbers, just general numbers, let's say you have a blended rate in india of $30 an hour, for example. in the united states we'll charge $45 an hour. if you just factor that in 1.5-2 resources offshore equal one american, already it's cheaper. plus all the hidden costs, the indirect costs, trips to india, for example, offshore, places where the work is done, project managers to manage that work, all the rework, language nuance issue, we call it. so when you measure any of that, it's cheaper to do it here in the united states. companies do it, and it's a great thing --
stuart: do you realize i've just allowed this man a commercial? [laughter] >> right. >> it's about america. creating jobs in the united states -- stuart: yeah, yeah, yeah. >> i would have made more money if i went offshore. it's not all about money. it's my civic responsibility as an american -- [laughter] >> oh! >> it's true though. stuart: how about this point? jennifer palmieri, she says, hey, trump won because he provided a platform for white supremacists. do you think you want to get off that and stop calling decent people racist? >> i think this is her level of denial in the hillary clinton campaign. >> ah! [laughter] >> i don't think she'll be happy with me saying that. stuart: they're in denial. do you think trump won because he stressed -- because you say he was a racist? do you think he won that way? do you? >> well, it may have been some component, but i think overall
there were many other factors. she couldn't run on a third term of the obama administration. they were very poor in messaging. they forgot about the white working man in the midwest. stuart: i don't think you realize quite what you did to people like me. i have a multiracial family, there are five nationalities in my family, three races and two religionings. >> >> that's impressive. stuart: yes, it is. i'm a league of nations. [laughter] >> united nations. stuart: and hillary calls me a racist, bigot, deplorable -- >> well, you're not. stuart: thank you. do you realize what that did to people like me, when i'm called names? >> that was a mistake among many. [laughter] stuart: you're a good man, and we do appreciate you being with us. >> my pleasure. happy to be here. stuart: next time you'll give money to republicans. [laughter]
jeff dewitt is back with us, trump's campaign chief operating officer. always has a big smile on his face no matter what. [laughter] >> stuart, an even bigger smile hearing you convert today so many democrats over to the republican party. [laughter] stuart: i'm trying, i'm trying. >> i love it. stuart: a serious question. do you think that we might at some point have enough of donald trump dominating everything? i mean, he is the news. he makes a speech, it's covered so widely, do you think we'll eventually get a little still e
what happened about 48 minutes ago when you got juan williams to tout the vir or chews of captain -- virtues of capitalism stuart: mr. trump has entertained a lot of people who are not in the republican party, rahm emanuel, al gore, leonardo dicaprio. he's not appointed anybody on his left to conservatives. he's talking to just about economy, you
strengthen the country. and that's what we need. stuart: what are you doing these days? you were the chief operating officer of the campaign. well, the campaign, essentially, is over. may i ask, do you have a position with mr. trump, or are you back to what you were doing in arizona? what are you doing? >> currently, as you can see behind me, i'm in arizona. i'm still the arizona state treasurer, and i love my job.ind
it takes a while to wind these things down. stuart: don't you want to be ambassador to switzerland? [laughter] or something like that? state treasurer of arizona, switzerland's for you. >> i've heard personally that -- out here the number one country is costa rica, for some reason. stuart: is that what you want? >> no, no, no, no. that's not for me. no, i love my job. you know, we'll see. i want to be very supportive of the trump administration, and, you know, president-elect trump in getting these policies through. you know, i love being a part of fixing our country. so we'll see. there's still a lot of talking going on, and no one really knows where it's goings to end. but i'm doing everything i can to be supportive, and we, you know, i know that we have the right man for the job in donald trump to fix the country. stuart: jeff dewitt on the show frequently in the campaign days, always with a smile. no wonder, he won. [laughter] jeff, thanks for joining us. >> thank you, stuart. stuart: thanks.
now this, goldman sachs, they've got a ceo, lloyd blankfein, he says we don't have to worry about trump after all. he was very worried about him -- >> he was, but then he saw his company's stock go up some 30 to % since mr. trump won. he gave an interview to a german newspaper. i don't know why i say that. this is what he said: he's a very smart guy, a businessman. i am not pessimistic at all because he won. mr. trump may turn out to be a much better president than anyone else might have been in that place. he's just a lesser known quantity as a politician. so that's an understatement. he calls him levelheaded and all that. >> he just said in september he's afraid of donald trump, he's dangerous, he doesn't want him near the nuclear buttons. stuart: but when your stock goes up 30 percent and you're a company the size of goldman sachs, up by a third in november 8th til now, you turn around fast. >> yeah.
>> it's ash's point, goldman sachs is trading at levels it hasn't seen since 2007, pre-collapse. stuart: there you go. look at this, now we're up 60-odd points for the dow jones industrial average, we've never been here before, 19,678. how about that? back to 21st century fox, parent of this company -- network, i should say. it wants to buy the rest of sky that it doesn't already own. both of the stocks are up, sky in particular, but also 21st century fox. there you have it. i want to show you the drugmakers. trump has said in his "time" magazine interview that he would lower drug prices. our next guest says if he does, trump saves lives. back in a -- hold on a second. if you want to know who's going to run the country, watch "varney & company." [laughter] many of our regular guests are in the new cabinet. you can see them on your screen. much more "varney" ahead for you. . and her new business: i do, to go.
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♪ >> i'm nicole petallides with your fox business brief. the dow right now up 65 points. we've moved into an area we've never seen before, new record high again. and now we have the dow, the nasdaq, the s&p, the transports and the russell all hitting a high. s&p gaining six. we're also watching some of the names within transportation that have hit a lifetime high, the airlines.
after the passenger traffic on united continental, and now there's in-flight calling being proposed by the transportation department. some good news helping that. biogen is a winner, up 3.3%. here are your winners since the election, goldman sachs. we are now 320 points, bring me on camera, there you go. dow 20,000.
stuart: focus for a moment on the drug stocks on your screen now. we're doing this because donald trump says he is going to lower drug prices. our next guest says if he does that, that's a very good thing. look who's here, dr. manny alvarez, senior managing editor of foxnewshealth.com. manny, welcome back. >> welcome. stuart: let's make the assumption that mr. trump can, indeed, do what he says he's going to do and drug prices come down. can you give me an example of where you think this would literally save lives? >> listen, right now the problem that we have is prescription costs are out of control at all levels. we don't know what the cost is at the pharmaceutical level, then it gets to the retailers, they have to mark it up, then you have insurance companies deciding what the price is, you have hospitals marking up four times to five times what their cost is. so imagine let's say you pay $10 for a bottle of tylenol, but you
get it in the hospital, that's a $50 bottle for the consumer. so everything, you know, the point finish the price, nobody can tell you what the price is. what we all know is that the mark-up is astronomical, in the hundreds of percentile -- stuart: is that what he's talking about? is he talking about getting the mark-up down? >> this is the only industry, you have a product that nobody can tell you how much it cost cans to manufacture and what the proper mark-up should be. right now the pharmaceutical companies -- i've spoken to everybody at this segment, and everybody says, well, manny, the bottom line is that the pharm companies just come up with a price, and we don't know what the price is, and every year it goes up. when i wrote the article, i said trump is going to save lives. that is true. people cannot afford to buy their medications today. even with insurance. so what to you to? when you have a co-pay of $5-$600 per month to get your basic prescription, your blood
pressure medicine -- i'm not even talking about cancer drugs. stuart: this does happen? >> every single day! so what do you do? well, you know, you had a bad month this week, you don't have the $500 co-pay, you don't renew your prescription. i'm talking about the basic stuff. i'm talking about your diabetic pills which are a dime a dozen for one-third of america, your blood pressure medication, a dime a dozen for one-third of americans, your cholesterol pills, okay? that's the basic stuff, the bread, the butter, the milk, the things you need to continue living in this world. and the american consumer sometimes says, you know what? this month i'm not going to renew my medication. so this has to stop because, look at the mortality rates. just came out yesterday. look at the mortality rates. stuart: now, i'm going to get to that in a second. >> yeah. stuart: i've got a bee in my bonnet about the activities within the medical industry. >> right. stuart what you've been talking about, you're talking about the mark-up between the pharm ma
company and the -- pharma company and end user, myself. >> correct. stuart: a lot of that is because of the threat of lawsuits, and i think if you did something about that -- i don't know what you could do -- >> listen, you know, as a doctor, you know, this has been one of my hallmarks. we need some sort of tort reform -- stuart: yes. >> -- that makes sense. i think every industry from automobiles, auto manufacturers to pharmaceutical industries will tell you, listen, we need some tort reform. but i think that that is not the biggest problem for the out-of-control costs. stuart: what is? >> i think it's just corporate greed, number one. i think, i think -- well, look at the generic companies. the generic companies have increased, right? generics came out in the market god knows how long, and everybody said, hooray, that's going to lower the cost. generic drug manufacturing costs have increased every year for the last eight years. yes networks. generics. so even the generics have gone up. and when you look at the generic business, sometimes they open a
small pharmaceutical company, they close it down, everybody takes whatever they need to take in their pockets, they reopen under another label, and it goes on and on. i understand business. i am all for business. i get it. but this is something, this is an industry out of control, and i think this is why president-elect is going to be great in dealing with this. stuart: dr. manny, would you just stay there for a second? because you mentioned this pullback in longevity rates. i want to get into that in our next segment. hold on there for a second. i do want to alert our audience to the fact that the dow industrials are now at, i think, the high for the day. we've seen this pattern before, ash. >> we have. stocks up slowly -- stuart: yep. >> and then as the day and the session moves on, more money comes in from the sidelines. stuart: okay. remember, we're going to talk longevity rates and how they're coming down, first time in many, many years, with dr. manny after this.
number one, diabetes and heart disease is still out of control. one-third of americans and probably a lot of developed nations, there's a lot of obesity, a lot of heart disease, and that still is the biggest challenge. you know what the other challenge is? drug abuse. if you look at the latest statistics of death from prescription drugs, or heroin, fentanyl, all the things, the cdc just came out with a report, and we have a good story on foxnewshealth.com looking at that, at drug abuse. the president-elect took it as a very important topic, and thank god he did. and i think that we're going to see the first president address can it because they have to. it's not only affecting the mortality, morbidity of americans, but also the culture of the united states. so drug abuse, we need to do something about it, and there are many things that the trump administration can do so that we have better control. a, eliminate making doctors prescribe, you know, pain medicines excess ily, and this is something -- excessively, and
this is something that the federal government pushed for the last 15 years. they wanted us to be prescribing pain medication because of the threshold they created -- stuart: it's out of control? >> it's out of control. the second thing is point of purchase. if i give you a prescription for vicodin, you go to pharmacy a, pharmacy b, they don't know you got the prescription within 30 days, you've got now 60 pills. heroin nowadays the cheapest drug around, it's everywhere. you can call a 1-800 number in suburbia and probably get it delivered to your home. this is what's going on around the country, and people are dying every day -- stuart: and that is one of the major reasons -- >> one of -- stuart: why mortality rates -- >> it is affecting the overall quality of life and mortality. suicide rates among teenagers, the drug abuse, among adults to obesity, heart disease, all of this is now paying dividends. and for the last five years,
see, this data is not fresh off the press. this is the trend that evolves over time. stuart: is there a social class element to this? i'm reluctant as a european to bring up the idea of class, this is america. better-off people live longer than not so well-off people? that's where the decline in longevity rates is coming? >> listen, i live in, i think, a pretty good neighborhood, and i can tell you the heroin epidemic in my neighborhood is out of control among very educated people, college-educated people. heroin is out of control. and you can ask any police officer in any county of the united states, any county, suburbia, urban, you say do you have a drug problem in this town? they'll say, yes, sir. stuart: good lord. you're from cuba, respect you? >> absolutely. stuart: born there. >> born there. stuart: did you know there is a marxist restaurant in grand rapids, michigan, no bosses, no tips, they just closed down.
took them 40 minutes -- >> absolutely. look at cuba now, they don't have lettuce for the hotels, for the tourists. new york times story. we have no lettuce. [laughter] so people want to go to cuba and have a nice time you, no lettuce for your burger. stuart: they had to push fidel's hearse because it ran out of gas -- >> they ran out of gasoline. the last leg of the procession, they were taking his body through the island, but when they got closer to the, you know, place where they were going to bury him -- stuart: you handled the segway very well. we went from longevity rate declines to fidel, pushing his hearse -- [laughter] always connected. dr. manny, you'll be back, if you're not careful. [laughter] more "varney" after this.
>> 334. stuart: today started out like other days, started out, relatively calm, modest upside move. gains momentum and finishes strong. let's see if it happens. we'll turn it over to neil cavuto. hes that that look on his face. what is wrong? neil: i'm listening to you, you try to hide the fact you're brilliant, you graduated from oxford. >> no, i'm not. i'm not. neil: fine. i'm doing the math ands thinking do they not teach math there? you know the math. it is like clicking to you like "rain man," well i don't really know but i will hazard a guess. you know what is going on. you know we're 300 points from 20,000. >> 30 seconds in your show. get on with it. neil: have a jolly weekend. meantime we are, did i mention this, about 300 points away?