Skip to main content

tv   Varney Company  FOX Business  December 14, 2016 9:00am-12:01pm EST

9:00 am
and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do. visit to see what adding futures can do for you. >> thanks for being here, everybody! we love our christmas sweaters. stuart, we're going to bring you a present at 9:30. an ugly christmas sweater for you, stuart varney. stuart: are you done? oh, no, no, thank you very much indeed. christmas must around the corner, i can tell. thank you ladies and gentlemen, i appreciate that. good morning, everyone and welcome to your own front row seat. you are watching history unfold and we're very glad you've chosen to watch it right here. stocks at historic highs. you may see 20,000 on the dow today. it's less than 90 points away. the tide of optimism that arrived with donald trump's
9:01 am
election produced the most explosive rally in years. yes, it is the trump rally. this, too, is historic. the meeting between the president-elect and leaders of the most powerful and valuable companies in the world. they opposed his election and now they'll be face-to-face with him. as we've said many times, oh, to be a fly on the wall! how about this thought, the reversal of history. the trump cabinet almost every member is committed to reversing. and zinke goes to the interior department. a run of 20k for the dow, remember, over 100 million americans have a piece of the market. and you'll see the kings and queens summoned to trump tower, you've never seen anything like this before. "varney & company" is about to begin. ♪
9:02 am
>> my administration will be focused on three very important words, jobs, jobs, jobs. stuart: donald trump is back on the thank you, tour. last night he was in wisconsin and there you see him. paul ryan and reince priebus, both wisconsin natives and there's a green bay packers jersey with number 45, that would be president number 45. a lot of talk about jobs and the economy and the boom, and of course, merry christmas throughout the day's program. and take a look at the logos on the screen. these are american companies that could be facing stricter oversight and possibly fines from china. the authorities there are planning to fine an unnamed u.s. car maker for monopolistic behavior.
9:03 am
that could be retaliation for mr. trump's call with taiwan and pushback from china has begun. the china news is part of the back drop to the big tech meeting and so is this, ibm announcing new jobs in america and the ceo will attend today's trump tower tech meeting. e-mack, these new jobs from ibm, are they-- first of all, what are they? and number two, are they designed to placate mr. trump. liz: well, on the advisory panel, placate? i'm not saying that it's perceived as that. 25,000 jobs over the next four years, what's key and interesting here, she's saying she wants locational jobs not just the ba and cultural impact of soap operas, she wants technical degrees and she wants a third of ibm workers don't have those kind, they don't have a college degree or any degree and so that's what she's
9:04 am
focusing on and wow, this is about getting the manufacturing jobs back in this country and that's what she's talking about a vocational, it's interesting. stuart: a very good announcement to make on the eve of your trip to trump tower to meet with mr. trump. you're looking pretty good. good point. and i call it a historic tech meeting. the tech guys want more work visas so it's easy for them to hire skilled foreigners. trump wants products over here and big tech companies built in america. look who is here. jason miller is a communications director for the trump transition team. jason, welcome. >> good morning. stuart: have i got it right? the tech guys want visas, mr. trump wants to bring the money back and build your stuff here? >> i think you have it right and bigger things going on where mr. trump wants to make sure we're getting back to winning and creating jobs here, that this is the place where the intellectual capital is
9:05 am
booming and growing, so the president-elect is bringing together all of these, this big league group. stuart: i know, the powerful valuable companies in the world. is he going to muscle them, say, hey. >> come on, come on. stuart: give us the money back and build here? is he going to strong-arm them? >> everything is a negotiation point, but here is the thing we want to make sure we're doing it right here in america. jobs, manufacturing. stuart: you know what i'm getting at. this is a confrontation coming and you know it. >> we can work together. we've seen the president-elect reach out to a number of people who doesn't support him in the campaign and how you're going to push the country forward. we've seen this with his cabinet selections and heck, we had everyone yesterday from bill gates to former nfl great to jim brown and even kanye west in the building. stuart: didn't bill gates describe trump like jfk? did he say that? >> he talked about the president-elect is inspiring, the same type of energy toward innovation and doing things and
9:06 am
that's what the president-elect is trying to do here, bringing everyone together. we can go and make america great again, bringing these companies together, but this is a great step. stuart: what's he going to do with jeff bezos? as you know, jeff bezos is the founder of amazon, a very important company and that gentleman on the screen also owns the workout -- washington post which has been hateful to say to least to donald trump. what's he going to say? >> you've got to give the president-elect credit on this, reaching out and bringing folks clearly who have not been on board. they'll talk about job ap that's the focus today. i think, now, we know the president-elect if he has an opinion and he wants to say something and he'll share it, so-- >> is he going to do something as he did to martha raditz and he said, did you know someone
9:07 am
of you actually cried when i was elected? >> and these folks are a great step and number two on the heels of the big secretary of state announcement with rex tillerson and today's announcement of former texas governor of rick perry for energy secretary. and this is an a-list that the president-elect is putting together. stuart: you've got your message out. i've got more for a second and turn away and do the market coverage. this is a historic day, maybe. the market is lower, 20 odd points. until we get the federal reserve decision on interest rates this afternoon. shah gilani is with us looking at the dow, maybe 20,000 today, tomorrow, next week, when? >> it's a breath away. it could be today, it could be at opening today. we're less than half a percentage point to 20,000. we're less than 5% away from 21,000. and i think we could get to it quickly and could get to 21,000 by the end of the year.
9:08 am
stuart: whoa, whoa, hold on, everybody. whoa, hold on. you're talking the year 2016 has been extraordinary. >> yes. stuart: it's december the 14th. >> stuart. stuart: do the math, in 16 is days left, 17 days left in the year. and you think we can go up another thousand points? >> easily. stuart: easy? >> it's just 5% and institutional managers, they didn't catch the parabolic lead up except by the leaders. and everybody's behind. they're going to have to do year end catchup, a lot of year end buying and that could take the market to 21 is,000. stuart: shah gilani, you jumped on this band wagon. you used to be a bear. are you admitting to the camera you were a bear and trump is elected and you're bullish? >> we're not out of the woods, but you have to go with the momentum and it tips to be up and no reason to back off soon.
9:09 am
stuart: see what you did there? [laughter] >> it's not the trump-- it's the trump rally. >> trump rally, got it. stuart: you stay there, hold on a second. more for you in a second. one of the two remaining cabinet positions the agriculture department. fox news reports that president-elect trump wants senator heidi hide camp, she's a democrat from north dakota. the democrats are pushing hard for her to stay in the senate and they don't want to lose that seat. jason miller is here. can you confirm that? >> she would be a fantastic pick as would a number of folks. stuart: you like her for that job, agriculture, right? >> until we hear from the president-elect i'll let him make any announcements. we've seen with the cabinet they've put together. stuart: you know what he's doing. you know he would really like to appoint heidi hidecamp so her seat in north dakota, a democrat seat could open and establish another republican
9:10 am
senator if he did this. he's got to be leaning toward her. >> she would be a fantastic-- the thing to keep in mind, we talked about tillerson, nikki haley, talking about wilbur ross, all of the different people who have been successful at every single level. if he's gone through the process and by the way, way ahead of the pace where others-- and i think this is one of the things that surprised people. what's going to happen and how is it coming together? we see every person he's putting in is an a-list person. a number of good choices. stuart: nobody stays on message quite like jason miller. i mean, i would try to pull you towards who you like for the person for agriculture and pulling you different, but you wouldn't have it. >> no, no, straight down the middle and this is a fantastic cabinet doing great and doing what he says he's going to do. >> it's a thing you'll learn quick, until the president-elect says this is who i want to go with, don't
9:11 am
make assumptions and make sure you're given some strength. stuart: was that rudy guiliani's mistake? >> no, we love mayor guiliani and think he's going to be pretty involved and a good ally for us. stuart: i don't know when you get sleep, but much obliged this morning. check this out. here is where the dow closed yesterday. we're 89 points from dow 20,000, you could be watching history today. maybe. you've got a front row seat, we'll have that for you. and alongside nfl legends, jim brown, and talking race relations with the president-elect. they say that he could be the man to unite the country. that's what they say. and we'll talk with the man who organized that meeting next. >> my thing let's get it to the table and i want-- talk to the people and ride this thing to the promised land. hey gary, what are you doing? oh hey john, i'm connecting our brains
9:12 am
so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders? i know. your brain told my brain before you told my face. mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade.
9:13 am
9:14 am
9:15 am
>> we checked the price of oil every day. no impact on the stock market recently, but we'll tell you right now it's at $52 a barrel and gas is still going up. now this, three football legends, jim brown, ray lewis, curtis martin were at trump tower yesterday and talking about issues facing the black community. watch this. >> what we believe with the trump administration is if we can combine these two powers of coming together, forget black or white. black or white is irrelevant, the bottom line is job creation, developments in the urban neighborhood to change the scene of what our kids see. stuart: our next guest was at the meeting and organized it, actually. we saw him walk into the tower with jim brown. he's with us right now sitting in new york, pastor darryl scott. welcome to the program. >> god bless you. stuart: god bless you, sir, thanks for being here. that sounded like that was a kind of meeting, in a way that
9:16 am
we're not used to. we didn't hear a lot of complaints about we need this, we need that, it was coming together. >> yeah, we had a great meeting on yesterday. mr. trump made a commitment to the african-american community that he would provide jobs and improve the quality of living in the inner city, and so. stuart: how did he say he was going to do that. >> well, through the creation of jobs, minority entrepreneurship, urban redevelopment, crime suppression or crime prevention, and so, he gives me a lot of liberty, but i don't take a lot of license, but i appreciate the fact that president-elect trusts me. and so-- >> the relationship between the police force and the black community, that must have come up? how did it come up and what was said. >> it didn't come up yesterday, but i've had that conversation with him many times in the past. stuart: okay. >> i mean, years ago, we've had that conversation and he said something i thought was insightful one time, he said when police feel that the use of deadly force is necessary, why don't they shoot to wound
9:17 am
instead of shooting to kill. and so he told me that he believes a major source of the violence in the inner cities is no income, low income and depressed living conditions. seeking to improve upon that, we had dialog. the great jim brown has the i can program and everything we need to tackle in the inner city is contained within his program and it's an effective program that's already been implemented on a national scale. however, in my reasonings, a marriage between the trump administration, country of america, and the amer-i-can program, jim brown has an effective vehicle. rather than sitting down in the think tank, trying to social psycho analyze the black community we have a working model.
9:18 am
put some gas in it and marry it to the trump administration and we can ride it to do significant things. stuart: are you and the jim browns the new generation of black leadership? >> i hope so. to me there's not a lot of black social representation publicly, a lot privately, on the right, on the conservative side. >> hope to be one of the figures that emerge through this trump administration to be a voice from the administration to the community and from the administration to the black community. stuart: pastor would you demonstrate the correct way for a bro hug? >> come in. stuart: we've shaken hands. >> we dip the shoulder, not full body contact. stuart: oh, oh, dip towards. >> the shoulder, give me a pat, my brother. stuart: that's it. >> two, maybe three, depends on the intensity. [laughter] >> what a guy. like i said you're an honorary member of the african-american
9:19 am
community e thank you very much indeed. >> you've always been my guy. >> you're an honorary guest on "varney & company." >> and asking to get paid in a minute. [laughter] >> they're going to rerun this thing forever, including your demand for payment. that's the truth. thanks, pastor. >> god bless you. stuart: different subject entirely, there is a petition to the white house suggesting that the next navy ship that's built be named the u.s.s. deplorable. i can't believe this. who has come up with this? >> we don't know, the anonymous initials b-s put it forward. the u.s.s. deplorable to defend america and the constitutionalists from the globalists. it needs 100,000 and so far it's got 768. stuart: i wouldn't want to be the admiral of the deplorable. let's get to politics, listen to this, signs of potential voter fraud in detroit. 37% of the precincts there
9:20 am
recorded more actual votes than the number of people who showed up to vote. there is an explanation and we've got it. some sad news to report, actor alan thicke, best known for his role as the father on the sit com "growing pains", he's died. thicke had a heart attack while playing hockey with his son. he was only 69 years old. you can't predict the market. but through good times and bad... t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence. start your day with the number one choice of dentists. philips sonicare removes significantly more plaque versus oral-b 7000. experience this amazing feel of clean. innovation and you. philips sonicare. save now when you buy philips sonicare.
9:21 am
9:22 am
9:23 am
on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more research on them. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claims centers are available to assist you 24/7. call for a free quote today. liberty stands with you™. liberty mutual insurance.
9:24 am
ment. stuart: yes, it is true, stocks have been on a tear, but don't forget gold. we're up a little bit today, but you know, we're back at 1166, a lot of people did not see that coming. they thought gold would go up when trump was elected. in fact, it's come down to 1166 level. small gain today. now, thanks to the-- sarcasm, okay. thanks to the recount efforts of jill stein the wayne county found massive problems in detroit. ashley: voting machines in 37% of those, within the city of detroit registered more vote than voters living in the precinct. how is that possible? they use the optical scanners and there was a few issues with them so what you had was the people working at the precincts
9:25 am
were going-- oh, oh, so you got five votes. if you think that donald trump won because of that. think again. hillary clinton won overwhelmingly in detroit so if anything she probably got a lot of extra votes, but these would never be used in a recount because there's too many irregularities. stuart: but they would count state-wide. ashley: yes. stuart: if they were illegal votes you could say that donald trump won the state of michigan by a wider margin than was reported. ashley: you could, based on detroit alone. stuart: based on detroit alone. i find it fascinating. doesn't nancy pelosi want a criminal investigation of the russian hacking. liz: nine senators on powerful committees including homeland and intelligence, are sending a letter to loretta lynch, if you haven't opened a criminal investigation we want one into the alleged russian hack. stuart: more on that a second. juxtaposition of real fraud in
9:26 am
detroit versus the allegations of democrats. last check of the futures before we open up this market. we're going to be down 2 30 points, maybe 40 at the opening ll. look, one good rally and you hit 20,000. could be a historic day for your money. watch it unfold here on "varney & company." the opening bell is next.
9:27 am
9:28 am
9:29 am
9:30 am
>> sit back, everyone, we're hoping in 15 second you'll see history being made. we're talking dow 20,000 first time ever. we're about 90 points away from that level. we expect to open lower this morning. the rest of the day might be another story. we're down 35 in the first few seconds of this as dow 31, a lot of red on the left-hand side of your screen, a little green at the top. we're parring the loss, down 22 as we speak. so we're down .1% on the dow. what about the s&p 500? where is that at this point? it's down .09, fractional loss, that's all. the nasdaq composite. the technology companies up another two points, 5,466. oil makes not much of a difference to the market these days. it's down 83 cents at 52. gold up a little bit this
9:31 am
morning, but down since the election. we're at 1165. we always bring you the price of gasoline because that's important to a lot of people. 222 is your national average and it is, by the way, on the rise. joining us, ashley webster, elizabeth mcdonald, shah gi -- galani. a half hour ago you said we'll breeze past 20,000 and you said 21,000 this calendar year, say it again. >> there's an excellent chance we could get to 21,000. the market has enough momentum and on a forward basis if you look what the optimism suggests, it suggests lower corporate tax rates and repatriation, and that amount going into buybacks and the year end rally more than likely and the prospect of just more and more money coming into the market. as bond rates tick up. you're going to have those
9:32 am
investors fleeing bonds and coming to stocks and the market could get easily to 21,000. only 5 percentage points away which is nothing with this the market with this momentum. stuart: let's see if charles payne joins in. 21,000 by the end of the year, what says charles payne? >> i wouldn't bet against it, but we talk looking out much further out. the next couple of years, 4 to 5,000 points on the dow jones industrial average. stuart: 4 to 5,000 points up? >> we're looking at a breakout not unlike 2013 to 2015. almost unstoppable and went straight up and we've been side ways for the most part since then. it's about the economic underpinnings and the g.o.p. being able to implement donald trump's vision, two caveats. stuart: regardless whether we hit 20,000 or 21,000, it's history because it's been a long time since you've seen an
9:33 am
explosive rally like this one. you're looking at big gainers on the left-hand side of the screen. and we'll show you multiple stocks to show you how far up they are today. >> and hate to interrupt, but just so people understand important this is 1.6 of trillion added to the stock market since november 8th. stuart: 1.6 trillion. >> trillion. ashley: the u.s. stock market. >> our stocks, worth 23.6 trillion, november 8th they were 22 trillion. stuart: hold on a second. maria bartiromo is taking her seat. she had to do a hit on the fox news channel and she's joined us. do you have a microphone on? >> i do. stuart: look, we've had shah gilani saying by the end of this calendar year we'll be at 21 is,000. maria: i heard that. stuart: lo intat camera, that one is yours. say what you think. maria: well, look, i have no doubt that the bid remains on
9:34 am
this market, frankly. nothing goes up in a straight line. the federal reserve is an excuse to make profits, but the fundamental reasons remain, stuart. i don't know, 20, 21, what the date is there's a bit under the market. stuart: a rally, that's it. look, what is it, three hours the fed is going to issue its decision on interest rates the market has priced in a quarter point jump in the federal-- in interest rates up 25 basis points. i've got a question for everybody. what happens if the fed does not raise interest rates? any idea, ash? >> it would signal they're still not comfortable with this economy, not good for banks who won't be getting as much money on their loans if we don't see the rates go up. on the other side we could say cheap money continues. i think it would be a shock to the market because obviously, it's already priced in so we could lose ground. stuart: many' not going to say this is going to happen, but if it did. liz: i think the dow does hit 20 clearly. i don't know 21,000 by the end of the year. we've got warnings from goldman
9:35 am
sachs and societe generale, they say that rate hikes would be kryptonite to the market and called 2.75% and the rally dies. 2.6% the rally goes away possibly end of the next year. stuart: charles payne is laughing. >> yeah, they left them unchanged the market would go down because yellen would lose the credibility that she has. the bottom line is not the rate hike, how many they hint at next year wall street thinks. if they hint at 2, i think the market takes off like a rocket. and three or more i'm not sure. maria: i think the market sells off if they don't raise. is it 2 or 4 for 17. stuart: jeff bezos announced the first commercial drone delivery? and remember, please, he's meeting mr. trump a little in a few hour's time.
9:36 am
liz: this happened in cambridge united kingdom in england. this has been in the world for a while that amazon has been testing this, they had a secret laboratory over there trying to do the drone delivery so it's an exciting breakthrough right now. rain, snow, icy conditions. >> they're doing it in the u.k. because they couldn't get permission from the f.a.a. to do it in the u.s. stuart: they've announced it before the meeting with jeff bezos and president-elect trump. we don't like to show you charts, but every now and again we do. the dow this calendar year, there's a chart. it's pretty good. it's up 14%, okay? shah gilani, this has been a huge run-up where do you put your money if you're not in the market now, but you want to get in and you want to get in today, what do you buy? tell me. >> i think the market has gone up in a parabolic fashion. if you're chasing the stocks that have gone up you'll be in nose bleed territory that's problematic. i think looking for stocks that are undersold or underbought in
9:37 am
terms of a decent yield, but yet to be rotated into. vodafone i like, dividend yield about 8%, the dividend isn't necessarily sound. stuart: 8%? >> yes, there's a chance it could get cut, but if it's cut, it's trading at 52-week lows. if the market holds and people rally in and folks rotate into stocks like vodafone, you'll collect that. like sturm rugger, we like that and we want to get into the stock because it's near the lows. i think that if the market continues higher, the stocks that have gotten beaten up and left behind in terms of the euphoria by the other leaders they're going to rotate into. another dividend yield 3.7%, a great stock we like to own long-term. about 100 million in cash on the books and no debt. so, it's been a great play for us. stuart: hold on a second, shah. i've got to move on to charles payne, who has got a couple of stocks that he likes to buy
9:38 am
right now. >> one on the consumer side is zumiez, you buy the dip i think it's going for the of 50 bucks. and these earnings estimate. seagate i think is going to be an ultra grand slam. you buy the breakouts and don't pick bottoms. stuart: what does seagate do? >> drive technology, and only industry that does it. stuart: zumiez is a teen retailer. >> i know it's like fire, but i'm hoping to get in and out. stuart: and the dow turned positive, there you go, 19,911 holding on a fraction al gain, almost two points. don't knock it, ashley. >> rev up that diesel. [laughter] see what's going on. maria: i love it. stuart: see what we do.
9:39 am
check that big board, up nearly two points, 19-- oh, slipped to a gain of .19. we'll take what we've got. which stocks are the stocks moving among the dow stocks. nicole: let's take a look. now that we're positive, cisco systems is up 1% right now. wal-mart, microsoft, apple, johnson & johnson, so those are your winners right now. j.p. morgan talking about the market taking a pause and some weakness in the market. this afternoon not likely to see the big moves, but as maria noted if you don't get a hike you might see a move to the down side. last but not least, another catalyst to push the market higher would be trump, paul ryan tax plan and how that would move forward through congress and that could be a catalyst to help move the market higher. stuart: nicole, thank you very much indeed. show me ibm, please. their jeff writing in usa today, that the company's going to hire 25,000 people in the
9:40 am
next four years, in america, that is. liz: uncork the champagne at trump tower. and gino row mete said they want 25,000 jobs, they had this opening. is this saying, trump credit, here comes trump and have 25,000 hires? they need those jobs. rometti saying they need technical jobs and they want the government to spend more on vocational degrees and there's half a million tech jobs. stuart: and she made this announcement. liz: they made it in march and put out an op-ed. >> and boeing did this. big businesses have to get ahead of donald trump taking jobs, silicon valley destroying job opportunities. and she wrote a letter saying that ibm wants to help. i can tell you right now, it's also with the tech giants are
9:41 am
going to ask for are more h 1 v visas, they're saying we've got 500 jobs openings, we're spending a billion dollars and the federal government has to let us have more foreign workers and help us train americans. stuart: and donald trump wants silicon valley bring them back. >> you bring them back you have to allocate to infrastructure. stuart: there are a passel of high-tech titans riding the golden elevators today. amazon, microsoft, they're riding elevator. ibm, google, tesla, same story going up the elevator to speak with mr. trump and told them in a holding pen and address them. question, when they come out of that meeting, do you think it's a good time to buy the big name technology stocks? i shouldn't ask you this, maria, but ask you anyway. maria: look, i think there is a
9:42 am
feeling that technology has not participated. it really hasn't participated the way that financials have in the rally so there's some value there. and i just heard from one of my favorite and smartest trading guys on the trading desk just now. stuart: who, charles payne. >> yes, it is like charles payne, the market has to pack and fill and we will continue to go higher because we've spoke been fundamentals. i'm not talkling specific names, but, yes, i think this name continues higher in 2017 because people want to see the effects of lower taxes and roll back of regulations. stuart: shah gilani, they come out of the meeting, do those stocks make a good buying opportunities, any of them? >> i think there's a unit opportunity for that. if there's any statement with repatriation. maria: can i say, this is about growth. ibm had a tough time growing. this is one of these enormous companies that cannot grow
9:43 am
revenue. you have to look at each company selectively and specifically. if you're talking about a growth story, those stocks will go up. it's a case of who's growth, who's value. >> and ibm, i sold it last week. they've just been too late with the cloud stuff. here is what ibm said and this is what she said in the letter to trump and where they want to benefit. they want part of the infrastructure deal part of the new health care deal, part of tax reform and technology to veterans so essentially they're saying to donald trump not only do we like the regulatory and tax opportunities, we want every piece of the action. he's going to say bring home some cash and let's talk. stuart: donald trump put out a tweet, two points, right, producer, my administration will follow two simple rules. buy american and hire american. that's what he-- that gets you back to the h1b.
9:44 am
liz: and back to the 31% tariff which he has a lot of leeway to. stuart: look at this for a second. put on the screen, please, the logos of american companies, some of them doing business in china because we've just learned that china will soon penalize an unnamed american auto maker for monopolistic behavior and i believe they've called out starbucks, global times, a newspaper in china. ashley: seeing the pushback on the trump rhetoric. they've done this before and did it with audi and daimler. they claim that this particular unnamed auto maker from the u.s. basically told to fix prices from 2014. they're not naming it, but they say in a state-run newspaper that it's very important that mr. trump understands the importance of u.s.-china ties, the games begin. stuart: that's a volley from
9:45 am
the dispute between u.s. and china. ashley: you make life tough for us and we'll make life tough for you. maria: we haven't done anything for what they've been doing to us for years. stuart: this is very true. look at the 10-year treasury, please. the yield is a very important number, 2.44%. billionaire hedge fund manager jeffr jeffrey gunlack says if it gets here-- >> he says that trump was going to win and forecast a subprime crisis. he says when the 10-year hits about 3% you're going to have to say unequivocally you've seen the end of the the bond bull market and a problem for stocks. that's what he's saying and he's saying you're going to see in four or five years the 10-year go to 6%. so this kryptonite for the market? that's what societe generale and goldman sachs is saying and the u.s. dollar will roil the market.
9:46 am
>> and gunnlack has been wrong about the market, a bitter bear. historically all things considered, it would attract some money from the stock market, but remember this year, what was the strongest part of the market early in the year. utility stocks were up 23% because people want yield now they're only up 13%. people want growth. they're not worried about-- they want much more. liz: the 10-year with 6% in the '90s. 4% last decade. so 3%, the market it handle it. stuart: you know jeffrey. maria: yes, he's probably the most successful manager out there. am i going to put my money in treasuries in 3% as opposed to potential stocks, 10%, know knows what gain? >>? the summer the great bond relation, we've been waiting
9:47 am
for has gun. i don't think that 3%-- >> hold on a second, shah gilani is there and he's going to speak. >> we've seen bonds and the market rally along with it. if the bond market wants to sell off that's going to do nothing to the market except boost it. as charles was saying, there's the exodus out of bonds into stocks has only just begun so i don't see 3% as being some magical number that's going to stop the market fromoing higher. we jumped quickly to 3 1/2. it's a matter of a pace of how we get there. i think that 3% is nothing. historically, that's low and going to do nothing to the market. stuart: all right. a couple of individual stocks moving. nintendo, they're bringing super mario to the iphone. how much does it cost. ashley: yeah, $10 a pop on iphone to download the app so you can play super mario and apple getting $3 out of every 10 spent so it's big for apple and they hope because they've added super mario to the iphone
9:48 am
that will boost iphone sales going into the holidays. stuart: so $10 to get that on my iphone and $3 to apple. i remember that from 30 years ago. maria: i like pac man. [laughter] sorry. stuart: i go all the way back to mario. >> you like pong, don't you? [laughter] >> hey, only a few people remember pong. stuart: i digress too much, but i used to pay pong in the press club bar in hong kong in 1974, pong in hong kong. [laughter] the more i drank the better-- >> and listen to this one. no dorito's ad at the super bowl this year. dorito's part of frito-lay, part of pepsi. anything to ad. liz: this is so sad they had the best and funniest ads to some critics. first time in ten years you're
9:49 am
not going to see it and i loved the way they did the ads. they used amateur. they didn't have glitzy hollywood. now they're going to say we are mae not going to do it, maybe is it the money? go daddy is not goin the halftime with lady gaga. people are going into withdrawal because they're entertaining. stuart: withdrawal? >> i enjoyed it, they were funny as heck and you were all over it. stuart: you're not italian, are you. >> sorry maria. >> no irish. stuart: google, self-driving car unit has become wamo. ashley: a new way forward in mobility. they're a self-driving car under alphabet, which owns google. they're not in the car making business, never intended to,
9:50 am
we're going to sell the software to those who have self-driving cars. they debuted a car in austin. no driver. no staring wheel and a bubble that drove around on public streets and defined through four way stopped-- didn't go through, it stopped when it had to. it had a passenger who was legally blind and did fine. stuart: they had a passenger who was legally blind deliberately. ashley: it had wheels and-- >> when you get in a car what do you want to do? you want to drive that car. i mean, come on, it's a different thing when you want to get from one place to another, you can do uber, and i guess self-driving, i don't understand. stuart: tell us what car you drive. maria: i have a range rover. >> oh. maria: i want to drive. do you ever take it off the road. does it ever get mud on the side. maria: yeah.
9:51 am
liz: what do you drive, stuart. stuart: a chrysler town and country van. liz: do you take it off road? >> not intentionally. [laughter] >> playing pong, after a round of pong, he drives it around. >> off road. stuart: i asked maria a question and you think we're enjoying appearing with us today. maria: i love appearing. stuart: would you come back. maria: i will. i did bring you this present, an ugly sweater. stuart: oh, oh. maria: a christmas ugly sweater. stuart: that's not ugly. liz: make christmas-- >> i thought you'd like it with donald trump's face on it. stuart: leave it there, kid. maria: merry christmas everyone. take that. [laughter] >> and maria, charles, one and all, thank you everybody. didn't quite make history, but a lot of fun. where are we, by the way, we're down 20 points right now and
9:52 am
puts us at 19,890 and we have this for you, too. san francisco joining with chicago to start a legal defense fun for illegal immigrants. we're on it. what do you expect? of course we're on it. we'll be back. ♪ working for a living ♪ ♪ taking what they're giving 'cause many' -- i'm working for a living ♪ i have asthma... of many pieces in my 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.
9:53 am
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 that increases the risk of death from asthma problems and may increase the risk of hospitalization in children and adolescents. breo is not for people whose asthma is well controlled on a long-term asthma control medicine, like an inhaled corticosteroid. once your asthma is well controlled, your doctor will decide if you can stop breo and prescribe a different asthma control medicine, like an inhaled corticosteroid. do not take breo more than prescribed. see your doctor if your asthma does not improve or gets worse. ask your doctor if 24-hour breo could be a missing piece for you. see if you're eligible for 12 months free at
9:54 am
won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. and if you have more than one liberty mutual policy, you qualify for a multi-policy discount, saving you money on your car and home coverage. call for a free quote today. liberty stands with you™. liberty mutual insurance.
9:55 am
9:56 am
>> san francisco is following chicago's lead. they are proposing a legal defense fund for the city's illegal immigrants. basically, they're doubling down, ash, aren't they? this is what they're doing, they're doubling down. ashley: they are. this is interesting, there's an estimated 44 they like to say undocumented, we can call them illegal immigrants in san francisco and that's very conservative, but essentially they want to layout the welcome mat and say, look, if you are taken in under donald trump's policies or planned policies, we will put the money aside for your legal defense and how much? well, if donald trump cuts off
9:57 am
funding to these sanctuary cities, san francisco alone would lose about a billion dollars. stuart: that's the leverage which trump has. ashley: that's the leverage he has. they are the-- the border supervisors in san francisco will vote on whether they're going to fund the legal defense for illegal immigrants. stuart: that's fascinating. the federal government funnels a billion dollars of money into the richest city in america. liz: and that will be a magnet. ashley: put out the welcome mat. stuart: here is what you have at the top of the hour. i have a message for jill stein. the message, thank you, thank you for exposing, unwittingly, illegal voting. my take on that is next. and it's another big day at trump tower. tech executives will ride the golden elevator if they go in the front door, or the back door, not surprised.
9:58 am
we're on the second hour of "varney & company" right ahead. ..
9:59 am
10:00 am
stuart: thank you, jill stein. thank you very much indeed. your recount effort in michigan exposed a lot or than you bargained for. not russian hockey is not some sinister foreign plot good as recount revealed in detroit, six out of 10 precincts have voting irregularities. in 248 precincts, there is clear evidence that votes were counted or than once. that means the democrat vote was illegally in-house spirit to put it simply, there were more votes than voters. how did it happen? according to local sources a poll worker with day the scanning machine didn't record the vote so they would run the ballot through and again multiple times.
10:01 am
that is not what jill stein was looking for. she and the democrats want to show that the vote was rigged in trump's favor. nancy pelosi within 9/11 commission to investigate. michigan secretary of state will be during the investigation. rick johnson wants an audit of the detroit vote. that is exactly what donald trump said during the campaign. he said illegal voting should be stopped. and then he was called a racist. he was trying to suppress the black vote. now there is clear evidence that democrats in detroit were illegally expanding hillary's vote in what it be nice if the establishment media climbed off its high horse and started digging into their real of democracy? again, thank you, jill stein. he really did contribute to our understanding of illegal voting. the third hour of "varney & company" -- no, the second hour of "varney & company" is about
10:02 am
to begin. >> happy new year, merry christmas. donald trump is your next president of the united states. does anybody remember my opponent? to be a strong nation, we must also be a rich nation. my administration will be focused on three very word. jobs, jobs, jobs. speaker paul bryan, i come to appreciate him. we are going to win so much. you're going to go to paul ryan. mr. speaker, please, we can't stand when in the/. we won't be totally politically correct if you don't mind. we want to use everybody. we want to use all the brainpower because we will bring this back.
10:03 am
we will be greater than ever before. you watch. stuart: believe me, more on politics in a moment. this is a stock market. not going towards 20,000 at the moment. in fact, down 36 on the dow. back in 19876. this could still be an historic day. big technology companies check these all the time. these are the companies whose head ceos in the chairs will be made in later on today with donald trump. what kind of meeting it will be we really don't know. those stocks are up fractionally ahead of the meeting that takes place this afternoon. all over the meeting. the oil prices now $51 a barrel. it is down pretty big a buck. we will delete on the supply of oil at 10:30 this morning. maybe the price will change again if gas prices keep going up ever so gradually but up.
10:04 am
overnight removed up to 222. that is the average price of regular oil across the country. 222. hold on a second, and either some places where you're getting close to $3? trade for california, washington, nevada, indiana. we don't usually see that this time of year. the red spots as our gas prices are going up. in the city of san diego, $2.67. miami $2.30. cheapest is in galveston, texas, $1.98. stuart: i have a card for under $2 gas. might take four minutes ago at the top of the hour i was lucky not be illegal voting in detroit versus the demand by nancy pelosi for a 9/11 style probe into the election. that's what she wants. watch this. >> that the russians disrupted our government, undermine the
10:05 am
sanctity of our democracy is totally an excess of all and that must be investigated. stuart: they want investigation into a 9/11 style commission. meanwhile, in detroit, 37% of the precincts had a illegal, regular voting. let's put it like that. tammy bruce is with us. real voting irregularities versus a suggestion from nancy pelosi. >> this is the epitome of the fake news we been told about by the democrats. no proof of this, no direct reports linking russians. more than anything else this is democrats who don't want to talk about what we learned which is collusion between the media and democrats can and the nature of questions during the debate. entire dynamic of fraud during this process that health. in addition to the fact they are
10:06 am
embarrassed by the degree of their loss. they are worried about their own faith and the reaction of the base to their failure and are now we've got to blame someone for what happened. why not the bogeyman of the russians? >> we just saw on the screen running a ballet through a scanning machine. the poll worker says i'm not sure when through. do it again and again. >> it is the new age of ballot stuffing. as opposed to the fake valid to stuff into the box, which we see in liberal cities run dynamic rebuy union, people who presume the end of an election in that way whether it's chicago or other famous cities where there is a degree of fraud. now you have that electronically we just move it through. they had of canvassers is this is unusual. there shouldn't be happening. that is the fraud is not the fraud and that's also what the democrats want to hide.
10:07 am
trade to let see if the media digs deep into this. i don't think they will thereby to be presently surprised to special treat for our viewers. football legend jim brown and ray liles attended the meeting at trump tower yesterday to talk about issues facing the black community watch this be a >> we believe if we can combine these two powers coming together, forget black or white. black or red is irrelevant. the bottom line is job creation, urban development to change thes before our future. stuart: look who was sitting next to me right here in new york city this morning. batman is jim brown. i'm told you're the greatest football player ever. will you ever. we will not do that? >> well, it really doesn't matter. stuart: i think you are good stuart: we have reports out of
10:08 am
that inning that you read with mr. trump, that it is a very positive meeting. it wasn't about lacquer white folks did it was about getting something done. you confirm that's what it was about? >> about poor people -- poor people and black people in a sense because ultimately it comes down to all of us having an opportunity. playing field level. but we were specializing in the black community because a lot of people were saying that mr. trump did not care about black people. we found that to be untrue. we found the program that we brought to him coming indoors could and said he is then and i take him at his word and we will be able to work with it and bring somebody to that community. stuart: are you part of a new generation of black leadership? is that accurate? >> at 80 years old i don't again
10:09 am
knew about anything. stuart: your av? you are 80 years old? i did not know that, sir. i should have known that. >> you say it is very new -- stuart: it's not a new generation. >> let me be very honest with the audience. i dislike ericans, we have to really re-examine who we really are because we're the only coach over here that seems to work against each other and that is when my main piece about black is that we do not take care of each other the way that we should. we have homicide in our community that we shouldn't have. we should have the most genuine, peaceful aggressive neighborhoods of any group. that is just the opposite. stuart: during the campaign donald trump reached out to
10:10 am
black folks inside what if you got to lose? >> his wording was not understood. he meant well, but it's the way that he phrased it that people resented it. that he was right on, but he just didn't choose the right words as saying that it had think all of us would like to see an improvement in african-american communities because there's no reason for law enforcement to do things we sat here if we had a committed attack of the the south, law enforcement would work far less. if our black fathers to take on stability of being like fathers, our children would truly benefit. our families would benefit. i say to the world and i say to you that the jewish community is an example of a community using the principles of success nara power because they have applied those principles then they
10:11 am
worked together in education and family is very important in our culture. that has to happen in the so-called african-american culture. stuart: you've been involved civil rights for decades. here we have a picture of you back in the day if i may say that's a long time ago. you've been a civil rights guy for many years. you are saying mr. trump is fully on board with your style of leadership and what you propose for the black community. >> now, i'm not saying it like that. i'm saying that he is except dean what we are presenting and his people, his advisers had accepted that. we are going to work together to help this country be a better country. so he is being given a gift of like-minded people when you talk about ray lewis and charles
10:12 am
barth and business world and all of these old that were working together. all we need is the federal government to join forces with us because were talking about a private fund, not just government fund. we are talking about doing a lot of the work. this combination is duplicate. if he uses us and work with us, we can make a tremendous change in the society. >> one question. wouldn't you say the senate result transcends politics and a commitment to the community to just one party is the problem and we have to look at the past democrat politics of republican politics and more within a few been saying the community and what's best for the community. and check the nature of what has put us all into these boxes that
10:13 am
isolate us from the other communities. >> you're absolutely right. when i sit here with you, i'm supposed to be black with the three greatest people in my life were wide. when you talk about brandon johnson back in the days when we were fighting the civil rights meant, lyndon johnson signed the civil rights bill. he was a southerner, not supposedly what he was going to do, they sacrificed his political career to sign that bill. and so you can't just make it black and white. >> as a woman to people most impacted my life have been men and conservatives, individuals like yourselves. if being american first and looking at each other and families first. >> absolutely. i like what you're saying. stuart: jim brown, you're all right. you will be invited. we appreciate it.
10:14 am
retail stores named and shamed for taking the christ out of christmas. sam and kevin sorbo, a lot to say about this walking into her studio z three speed. here they are your gary chris mr. jim round one and not. -- one and all. ♪ [vo] quickbooks introduces jeanette and her new mobile wedding business. at first, getting paid was tough... until she got quickbooks. now she sends invoices, sees when they've been viewed and ta-da, paid twice as fast! see how at quickbooks-dot-com.
10:15 am
10:16 am
10:17 am
>> so when i started 18 months ago, i told my first crowd in wisconsin that we are going to come back here sunday and we are going to say merry christmas again. so, merry christmas, everyone.
10:18 am
happy new year, but merry christmas. stuart: merry christmas indeed from the president-elect. he says he will bring business back to america. fox news bill o'reilly talked about that issue of christmas political correctness on the show last night. watch this. >> to the american family association based in tupelo, mississippi has issued its annual not either nice list. that tells the public which businesses are christmas friendly and which are not. now the noddy companies that kind of marginalized christmas. barnes & noble, best buy, foot locker, that gap, the limited, nordstrom, office depot, officemax. staples and the tory secret. many americans celebrate christmas because they believe jesus is savior and has pursued beyond her and because of the
10:19 am
federal holiday, there's no reason to diminish christmas or insult those who believe in it. stuart: bill o'reilly, well said indeed a purpose now, actress and author of the book they are your kids, and her husband kevin sorbo. they've got the new movie out, joseph and mary ann is great. both of these people are rare conservative at recent hollywood. that's incredible and the new york city welcome. >> thank you. stuart: first of all, where did this come from richard not allowed to say or and that if you say merry christmas. when did this start and where did that come from? >> is marxism, political correct disk of the newspaper that george orwell. not being allowed to say things that they don't want you to say. is basically the elimination of god. >> i think the starting point the last 20 years is 20 years has two accelerators of the political correct as of
10:20 am
everything. when i go shopping and somebody said happy holidays to me i say merry chris is loud. i hear other people do that in line ahead of me as well. we are tired of it. stuart: a change. be a quick example. in rockefeller center the other day i put my dollar into the kettle for the salvation army and again dances very chris is. in previous years have done the same thing and i get a happy holidays. now the salvation army assayed merry chris ms. >> we were at a restaurant last night and the waiter said merry christmas to you. 24 year old kid. itas still pretty cool that he said it. you don't care that that often especially in l.a. or new york. stuart: do you think i'll change things? >> donald trump is making christmas great again. stuart: is this really going to happen? >> he has broken the bubble that
10:21 am
existed of political correctness. he said i don't care about political correctness. i will say what i want to say. the media was taken aback there is nothing they can do about it because it supports only increased when they said the things they said. >> of the silent majority saying enough is enough babbling for the last eight years. >> i want to point out how hillary they are challenging the election and saying all these things about how hillary won the popular vote. more people voted against hillary than voted for her. tally up the votes that were not hillary, the majority of the country is against hillary and more people should be saying that out loud. stuart: a touchy question. if you know that someone is jewish, you know that is their religion, do you still say merry christmas to them? >> i do because i'm not offended if they say happy hanukkah back to me.
10:22 am
people of other religions are up seven got the coolest movies in the best christmas? maybe they should come up with a better marketing scheme for their own religion. >> i say merry christmas and happy hanukkah. i was raised as a. stuart: i'm sorry, i did not know that. >> christianity embraces judaism. that is our heritage as creation. our heritage is judaism. jesus was jewish. stuart: it's not in the stores yet, the president of yearly card said on a happy holidays. that is what it says on it. you can see it right there. how do you feel about that? >> i'm sad he decides he wants to be so innocent that has to be lying his professed beliefs. but then i have to question his beliefs. stuart: but he's been inclusive by saying happy holiday.
10:23 am
is that what the president should do? >> we don't say happy holidays for valid tense day in arguably february is the month with the most holidays. why are we saying happy holidays during february? stuart: you got me. >> choose the holiday is celebrated. stuart: you're the actor in this. >> i am. i am playing joseph. stuart: where do i see it? it came straight to dvd. video on demand, dvd, amazon, wal-mart, all these places. it is really where the joseph story. without talk about mary. joseph was the guy visited by the angel and by the way your virgin wife is pregnant. how does he react to it that in his life. we don't have any video recording back then. stuart: i do want to get to politics. , this is a question for you.
10:24 am
president-elect trump has select did -- she's very strongly in favor of school choice. she's done on public schools in the way they are run at the moment. do you think she goes far enough? i think you'll favor homeschooling for everyone. >> i favor homeschooling. that's why i wrote the book gives a step in the right direction. nine overhauls of the education system in the past 30 years have reported to fix our education system in the broken. we need a major shift in the way we approach education because clearly our approach is wrong and i think she's a great choice to start us down that road. stuart: okay, got it. we wish you well with this movie. merry christmas to you. >> thank you. i'm not offended by that. stuart: that's good news. thank you what it all. look at the logos on the screen for you.
10:25 am
these are american companies that do enough a lot of business in china but they are now facing strict or oversight. maybe some action again been in china. liz: or maybe i say that china's government has slapped a price fixing fine on an unnamed u.s. carmaker alleging monopolistic behavior dating back to 2014. if they do it, it's a rare move. china has not made a move like this. they've only been six times over the past five years. is it in retaliation for what donald trump is saying about taiwan? china is they know it's not. stuart: surely this is pushed back. you are in there. merry christmas. would you feel about this? they are pushing back on the spirit >> of course they are. the timing seems little interesting. they say it has nothing to do with trump reaching taiwan. stuart: you are cheering trump on. >> of course i am.
10:26 am
if they want to play but i'm sure he's ready to play ball. he will negotiate this. it doesn't surprise me they are pushing back. they have to make a stand. they have been somehow save a spirit in china it's important to save face so of course they will push back and trump will figure out the next step. stuart: i'll say it again. merry christmas to one another. >> it's better than a reset that. stuart: here's what is coming back. fbi james director james carlson says america has suffered in five decades of political race hustling and government overreach he says donald trump will reverse all of that. james carlson on the show very shortly. this, a man in florida discovered an alligator and a storm drain. he felt vibrations as he went to collect mail and discovered the alligator hissing at him.
10:27 am
10:28 am
10:29 am
10:30 am
stuart: as of right now, we are just breaking them is how much oil was guided tours. that should affect the price that 52.63. trade for doug 2.56 million. more than expected. this is the sixth straight week of a drawdown in oil. stuart: we've got less oil in storage for the six straight week. the price of oil should theoretically go up a little bit. liz: but it's not. stuart: bottom line with got
10:31 am
less and storage in the price hasn't shifted that much. that is where we are. if you two bucks a barrel. the left-hand side of your screen deals with the stock market in the dow jones industrial average. no movement there because of the movement in the price of oil. we are down 22 points. that took us about 111 points away from 20,000. check out berkshire hathaway, warren buffett's company pictures cost $250,000 for the first time in 54 years. that stock was under 200,000 bucks per share this time last year. that is called a rally. check the big word back on 20,000 watch and we are down 20 points as we speak. that puts us at 19890. money watcher, money market guide with us right now. i know you don't want to do this, but i'm going to twist your arm. we had a guy on the show who said 21,000 on the dow by the
10:32 am
end of this calendar year. could you go that far, anthony is scaramucci he can't do anything now to future is in growth and opportunity in the trajectory on tax and regulation. you can see the earnings growth. if we can get the repatriation and the reconciliation of the tax treaties )-right-paren you can see more money to the united states, which will improve wages for the working class families in the middle class which will start with what the fed likes to call the consumption cycle. it's not inconceivable, stuart. stuart: you are very much part of the transition team. you've got a lot to say on the shape and nature of this cabinet. you are telling me essentially. i think you do. >> well, i'm just part of the team.
10:33 am
you and i know each other a long time. i like to try to help the most amount of people possible with the least amount of drama. that's my job here at trump tower everyday. trade to give me your headline from the transition team and the people coming and going today. what's your headline? >> well, today i think it's going to be a tech titans. the ceo of microsoft will be here and i will thank him personally for you and your staff portfolio. the headline is going to be this is a very inclusive president. this is a very commonsense oriented president. i saw jim brown on your show earlier. i was in a meeting with jim brown and ray lewis and the pastor to talk about the inner cities to rebuild those inner cities and restore confidence in aspiration to those people. to me the message from the new and from here at trump tower is really want to bring the united
10:34 am
states together and work in concert with people on the left and right to solve problems for the middle-class and working-class families. if you look at the actions of president elect trump over the last four weeks you can see that. today there will probably be 22 giants here. most ofhe in fact only one supported mr. trump. the other 21 didn't but that's okay. we know we have a common cause in a common interest. we have to work on the cyberpiracy issues. we have to work on the commerce issues and figure out a way to prevent a says from using the internet as an instrument of terrorism. there's a lot of common cause not the message would like to give to your viewers. stuart: we've got it. what i would like to see some of the tech guys appear on camera after the meeting to tell us how it went. i don't expect to see that, but i'd love to see a period
10:35 am
>> bill gates did it yesterday. to his credit he came right down. stuart: jobs bezos, owner of the "washington post" and want to see him on camera. >> when i see jeff later today i will mention it was a mr. werner went to come in front of the cameras. stuart: yes, please. i'd like that. we want a full report from you from inside the meeting. anthony said, good stuff. this meeting today with these tech giants of those companies you see on your screen, they are meeting face-to-face with donald trump. in my opinion, both tech companies want more pieces so they can bring in more skilled workers. i think mr. trump once tech companies to bring the money back to america. look who is with us you may about to comment on the visa issue. it lands you about his march
10:36 am
nashville's chief correspondent. welcome to the program geared welcome back. >> aims for having me. stuart: have i got it right? they want the says. the one the money that. >> trump doesn't believe so much in the program which brings skilled workers from all over the world to american companies. but it's kind of a virtual circle because what we are supposed to have been the u.s. is better spent programs can a better engineering programs to bring people from the u.s. to the companies did that is also something these tech companies are going to press trump on. education, engineering. if he really wants is to build things in the u.s. to develop and create a sphere, we need more of that. it's always a question of a skilled workforce. hopefully they can find common ground because it's not taking jobs away from people.
10:37 am
it's having the capability to build. stuart: at some of the most important meetings with the most important tech companies in the world. which is in the most valuable getting together face-to-face. the president-elect of the united states of america. what other issues are on the table? do you rejection of them, the idea of let's have everything built in the u.s. did not import status. we get a lot of technology project from outside. but with a lot of technologies outside the u.s. that will be difficult. the first conversation with tim cook, let's start building the iphone back in the u.s. stuart: do you think that will ever happen? >> might be because it will change the whole economic model of the product. it would become far more unfit. the the yields would be down. i don't think we are ready to build a cure. it's one of the reasons the manufacturing has moved outside the u.s. he wants to talk about the
10:38 am
offshore money at these companies coming out, the billions of dollars. he wants to talk about incorporating outside the u.s. which he has a problem with what amazon does in luxembourg. privacy is going to be a very big topic. we just got through 2016 with apple taking on the fbi and doj and not providing the technology to unlock the phone because they were undermining their entire business and privacy of all the users. trump had stated basically that they just have to do it. trump is going to pressure these companies '-end-single-quote, when it comes to national security, i don't care. i don't care about privacy can turn tonight is going to be a sticking point. quite honestly we went through 12 months i think of many companies, 21 of them publicly stating we are not with this. and i think that is going to make her one of the most
10:39 am
fascinating intense meetings of the entire transition process. i have made repeatedly to the unit's room. i'll put there quietly. i won't do a thing. my goodness, it is going to be absolutely incredible. that fatality, don't forget that. could be the end of net neutrality. stuart: it's all wrapped up. >> our lives are infused with technology. every single thing we do touches us digitally. so if you thought the media was important, forget about it. this is the one. >> thank you for being on the show because i do believe this is the most important. >> i am running to trump tower now. stuart: thanks for being here. we appreciate that. check the big words out not that much. the trump rally is holding
10:40 am
although we are done 29 points as the feat. nicole, please come in. which stocks have been on it, biggest since the election? >> either way, financial capital. look around me. look at the names that are the biggest winners. staples in the middle of a turnaround. transocean we've seen. this is over 50%. we watched oil moving higher. hank of america 30%. the financials have really been one of the best performing group since the election and humana also a winner. dowd 18,000. i'm not sure if everybody remembers when we had 18,000 in december 2014. 19,000 just after the election and now we are approaching 20,000. the question is when we will have 20,000 mark. 17,000 to 18,000 was less than six months but it took almost
10:41 am
two years to get from 8000 to 19,000. stuart: if you've been watching the show earlier, we had shied the limey say we will get another thousand points in the next 17 days are sent to mike. >> renate n. good for the 401(k). stuart: nicole, thank you very much indeed. we will also be talking to james collister, a favorite on this program. he says donald trump is the answer for reversing five decades of what he calls political race hustling and government overreach. kallstrom is next. we are remembering the life of actor alan thick, and that's known for his life as a father in the sitcom growing pains. he passed away yesterday at 69. great actor. more "varney & company" in a moment. ♪
10:42 am
[vo] is it a force of nature? or a sales event? the season of audi sales event is here. audi will cover your first month's lease payment on select models during the season of audi sales event.
10:43 am
ashley: president-elect donald trump did it with lack leaders have trump tower. we have some fun with them earlier on the show. roll tape. stuart: which you do me a favor? would you demonstrate with me the correct way of doing a bro hug? >> come dip your shoulder.
10:44 am
not full body contact. that's it. depends on the intensity of the meeting. you're an honorary member of the african american community. stuart: thank you are a much indeed. >> you've always been my guide. guide. --
10:45 am
10:46 am
stuart: nancy pelosi has called for a full probe into what she calls russian election hacking. however, the fbi has not come out and officially said it was the russians who did it. james collister this year, for a t.i. assistant director with us this morning. the retest on the show. did you know that? you ray. that player that did the fbi has not said yes it was the russians, have they? i believe that's correct. nor has the national intelligence director's 99 two the analysis by the cia. >> just part of the cia this is just the russians did it.
10:47 am
>> the bureau has a much higher standard of proof for comment they make. i don't say that to degrade the cia, but two different agencies with two different sets of rules. but there's nothing new here. this hacking has been going on for how many decades by the russian, chinese, iranians, and myriad other people around the world. stuart: nancy pelosi and others are saying they did have and they did it to help the russians did it to help donald trump. >> i think that is pure speculation. the notion that the russians, i don't know if they give it to wikileaks, but you know, the information stands on its own. the truth is the fact that the wikileaks showed the cabal between the democratic national committee, you know, the media, the outrageous left-wing media and his roving gangs of people that go to trump event to disrupt them.
10:48 am
maybe with at the republican e-mail, too. security is lousy. people don't abide by security rules and maybe there is nothing that interesting to publish there. i don't know the answer, but it's the democrats fault for putting a faulty candidate that had this tremendous long locomotive train of baggage. and all this basically corrupt in my view, maybe not legally corrupt, but corrupt methodologies of how they work and not in their whole campaign. they have to live with that and they have delivered the fact that the american people are sick of the status quo of both political products being bought and paid for by special interests. how about the american people be the special interests? stuart: on this program you said several times i do think america was going to coin a phrase to in a handbasket. i was your expression that our culture was going downhill, that
10:49 am
america is up is going downhill. last time you run the show companies that may be donald trump is turn things around. maybe this is a new direction for us, our culture, our people. >> i believe that 100%. donald trump is not bought and paid for by anybody. donald trump is deadwood is going to do. i believe he will attempt to do that. he will have tremendous blowback from all these people. they are not going to change. all these people that have basically ignored the inner cities in this country for decades. just think of what is going on there and think of the crisis, the fact that the education and families have been destroyed by government policies. it is outrageous the fact that all that potential brainpower for the united state and content population for the united states has been ignored all these weeks. stuart: are you angry?
10:50 am
>> i'm angry it hasn't been done. they've been taken for granted and i spent 25 years in this city comes in to lot of time in every part of the city in major cities like also more. it's absolutely disgraceful in my view that we are allowing this to happen and the policies that the government has continued its downward spiral of welfare and have taken any initiative. one of the first things obama did was he basically kind of boss the system in the washington d.c. schools. i think a lot of people actually voted for him because they thought he was going to do some thing about this tremendous problem in this cultural tragedy. stuart: things really have changed. people are speaking out like you are now. >> i was glad to see jimmy brown meet with donald trump yesterday. that's the right idea.
10:51 am
stuart: he was sitting there a few minutes ago. he said it's not black, not white, what can we do here? >> this can be fixed, but it takes initiative. we can't have these people so called spoken for communities over the years and have basically put money into whatever they are doing with it. they haven't done much for any of these people. stuart: when you come back real soon and finish the thought? >> i will. but i take a commercial break. i know holidays. stuart: me, ladies and gentlemen will be back. [vo] quickbooks introduces jeanette
10:52 am
and her new mobile wedding business. at first, getting paid was tough... until she got quickbooks. now she sends invoices, sees when they've been viewed and ta-da, paid twice as fast! see how at quickbooks-dot-com.
10:53 am
on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more research on them. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claims centers are available to assist you 24/7. call for a free quote today. liberty stands with you™. liberty mutual insurance.
10:54 am
10:55 am
stuart: we are too optimistic about the stock market. we've had some comments to that effect. this is from darlene. as that happens, gas is going up along with interest rates and mortgage rates. those of us who are retired and have no jobs there is doubt, these gas prices are going to kill us again. what are we supposed to do? this from bob. i take issue with the level of "glee" being expressed regarding the manipulative rise in oil prices. if you cannot see the longer-term impact on the economy camille be shocked when these good fortune go into reverse. i don't think we've ever
10:56 am
expressed "glee" about oil prices going on. we've always been concerned. >> they made the point that we not that it's not good. if it's because global economy is just taking off in the demand for oil is the prices going up, that is better. stuart: i don't think we've been cheering on the stock market rally in the sense that we were encouraging that were talking the market at. we just reported on it and we are happy to see stock prices go up. over 100 million americans own stock directly or indirectly. stuart: let's put it in context. the u.s. economy and the bull market entombment room. i hear what they are saying. the reality check is fine check is time for new females. who wager bolla sunshine this morning, under cloud? we should be happy for once. stuart: the optimism in this country is part of that and that is part of sending up at his island or face.
10:57 am
stuart: it is a new mood. liz: we have sat here again, how many years? eight years. in the economy. stuart: eight years of the economy. not that happy times. but nowadays. everyone, we will be back.
10:58 am
. .
10:59 am
11:00 am
stuart: merry christmas, everyone. let me make a point of this. merry christmas, everyone. i say this for two reasons. spiritual, and secular. as our president-elect said in wisconsin last night, it is okay to say it. it is not an insult to anyone. you're not being insensitive to non-christians. you're not excluding anyone. you are wishing joy to the world. you are sharing the good feeling that this season is all about. don't be afraid. do not feel guilty. of the christmas is a celebration of goodwill, share it.
11:01 am
now to the secular side, i don't want to corrupt the spiritual meaning of merry christmas but there is an check aspect to it, a financial aspect, if you will. have you noticed, this christmas there is a change of mood, from negative to positive. this christmas we can realistically look forward to a growing economy. that is a plus. the stock market rally put money into the pension and investment accounts of more than 100 million americans. is there something wrong with that? so please, feel free to speak freely again. feel free to express your joy. feel free to look forward to an america that feels good about itself. merry christmas, everyone. ♪ ♪
11:02 am
♪ scant at that clause is coming to town ♪ stuart: bruce springsteen is a socialist. santa claus coming to town. dow 20,000 within reach. this is trump rally we're playing springsteen. i'll do it. merry christmas everyone. joining us steve forbes, forbes media editor-in-chief. merry christmas. >> merry christmas. on bruce springsteen? stuart: yes. >> he said santa claus, not government. that is an improvement. in the spirit of the zoo season. if he sings it up he might get the message. stuart: do you feel there is a change here? that the mood of the country has changed and to say many so of the things you were unwilling to say previously? >> yes. you're starting to see less looking over the shoulder and offend somebody and tarred as something bad. it started with donald trump.
11:03 am
as he said, you don't have to be insulting. you just get in the spirit of the season. and by the way, i was in indonesia a week ago for a big ceo conference. you go in the big hotels there. you know what you see in the lobby? a christmas tree and santa claus. largest muslim nation in the world can go along with it, why can't we? stuart: what do you think i said the other size of wishing merry christmas? there is a secular side to it. i don't mean to detract from the spiritual side but i think we can look forward to a very different america in the coming year, can't we? >> absolutely. in terms of giving, which is what the christmas season is about, what is wrong with that? spirit of generosity. thinking what might make somebody else happy? good for you to be in that kind of mood. stuart: forbes, you're all right. merry christmas to you. stay there. i know you will stay with us for the hour. hold on i have more for you in a second. now this. china says it may penalize one u.s. car company for running what they call a monopoly.
11:04 am
douglas holtz-eakin with us now, american action forum. look, doug, without getting into specifics which car company might come under pressure, seems like china is pushing back in response to donald trump's statements about china. he his call to taiwan. this is pushback and it is happening now, right? >> yeah, i think that's exactly right. mr. trump has been very effective using the bully pulpit during his campaign. now he turned it on china. you can be sure that the chinese are making a plan to retaliate if they feel appropriate. this is a shot across the bow. stuart: are you worried about this? could this develop into something really big that affects trade between the two countries and affects our economy and theirs and the markets? >> i think the concerns you hear, particularly out of the business community, there are companies with big stakes in the chinese market and fear they could be targets of retaliation. the other thing to worry about,
11:05 am
what is the strategy? what is the endgame that mr. trump is pursuing? we have known for years that we need a way to get china to honor its international obligations. previous administrations had strategies to do that. i think people would like to see the gameplan and know where mr. trump is heading, would give them some comfort. stuart: you have not always been a trump guy. i don't know whether you are now or not but do you approve of his straightforward approach with china, the dramatic change with the call to taiwan? do you approve of this? >> i think we needed a change. let's be quite blunt. previous attempts to get china to play well economically and strategically with the rest of the world haven't been entirely successful. there is no point in repeating a failed strategy. so i welcome this. as i said, i like everyone else love to see the larger gameplan. we know the chinese are thinking two, three, four steps ahead. i presume he is as well. i would like to know how this is going to play out.
11:06 am
stuart: doug, stay there for a second. we're of course on trump tower you watch. we call it white house north. big-name tech ceos meet today with the president-elect. ash, one figure in particular stands out and that is jeff bezos, runs amazon and owns "the washington post." ashley: yes indeed. we know that they are great friends. i'm being sarcastic. they were going head, toe-to-toe during the campaign the jeff bezos, owner of "the washington post," every day headlines slamming then candidate donald trump. and of course donald trump then saying that jeff bezos only bought "the washington post" as a tax dodge. there is no love lost between these two people. it will be very interesting among all other meetings going on with tech titans at trump tower. this one in particular will be very interesting. what is donald trump going to say to jeff bezos? you how hard will he put down his foot on some of the things being discussed prior to this? there is a lot of issues.
11:07 am
visa issues. commerce, repatriating money overseas and so on. we say almost every day, love to be a fly on the wall. this is one where truly that applies. let's face it, it could be very awkward. stuart: yes. steve, how would you feel if the president-elect says to jeff bezos and amazon, says, you know, maybe you could have a antitrust problem with that big share of the online selling business that you've got, know what i mean, nudge, nudge, wink, wink. would you approve of that kind of pressure? >> he already done it during the campaign. he is watching jeff bezos. he doesn't have to do it anymore. they know washington is where the power is. trump was elect to do so get power away from the. is there. fcc, they went on, they did not resist the fcc from imposing regulations that hurt small
11:08 am
companies going into high-tech. let's have a real discussion on that. in terms of visas, if they want to invest and expand we'll look at that issue. so they have a lot at stake in there. he doesn't have to say wink, wink, nod, nod. they know that already. stuart: he wouldn't do anything subtly he would many could out with i suspect. lizzie? liz: google, bet big-time on hillary clinton. biggest corporate contributor for hillary is google. what is striking now, google is hiring more conservatives in the lobbying policy arm. during the obama administration, 250 workers from google went into the federal government. so there was this turnstile. there is turnstile between the tech industry and democrat white house. >> to lizzie's point, they had more visits to the white house than anyone else. stuart: what will donald trump say today? what will he say? doug holes he can a kin, still with us. doug, come into this please. would you object if the president-elect strong arms
11:09 am
silicon valley says you didn't vote for me, you hate me. now listen to this? are you a free market kind of guy. you're a capitalist. a lot of people like you do not approve of strong-arming a whole industry. what say you? >> i'm not a big fan of micromanaging industries from the white house, congress or any place in washington, d.c. quite frankly but i echo what steve forbes said. which is they're already on notice. quite frankly they're headed into to acknowledge the fact they supported the opposition. to acknowledge the fact that he didn't say much about tech issues during the campaign. they would like some attention. and, i think they're going to try to make the case there is some genuine policy issues need to be dealt with. net neutrality rules obama administration slammed on internet. never made any sense. still don't make any sense. there are other things he has in his pocket than bullying or strong-arming. stuart: they have a lot of money overseas they want to bring back to america.
11:10 am
that is called leverage. leverage on both sides. doug, appreciate it. see you again soon. >> thank you. stuart: check out the big board. we're less than two hours into the trading session we're down 37 points. we're watching for 20-k on the dow. we'll see what happens at the fed meeting. we'll get results whether they raise interest rates or not couple hours from now. that will affect the market no doubt. coming up i will ask the chair of the house financial services committee would he cut through the red tape and make it easier to get a loan from a bank? three of my producers are finding out how hard it is to get a mortgage from a bank these days. we'll ask jeb hensarling, sweep the red tape away, can you please? a message of unity at trump tower. nfl legends, jim brown, ray lewis. the message is, race is irrelevant. that is what they were saying. what we need is job creation. we're on it. first you have to watch this.
11:11 am
my first bro hug caught on television. watch it. [laughter] pastor, would you do me a favor, would you demonstrate with me the correct way doing a bro hug. >> you have to come in. stuart: okay. okay we've shaken hands. >> dip your shoulder. stuart: dip the shoulder. >> not full body contact. stuart: oh, dip towards. >> give me a pat.
11:12 am
11:13 am
11:14 am
stuart: markets on kind of hold at the moment. waiting a couple hours until we find out what the federal reserve will do with interest rates. after that you mht see some serious movement. down 30 at the moment. we were talking about this in our morning meeting. we have a meetings every morning, 6:15 eastern time a.m. all of us sit around the table, thrash out what we will do for the show. three people around that table, my producers, are having real trouble getting approved for a mortgage, or any kind of bank loan. way too much paperwork.
11:15 am
i mean it is so time-consuming, i'm involved in this too. congressman jeb hensarling is the chair of house financial services committee and he is our guest now. you know what i want, don't you? >> i want you to sweep away this red tape and sweep away those provisions of dodd-frank and sweep away what the federal reserve has done to credit systems. can you do it for us, sir? >> well i can't do it alone, stuart, but help is on the way. please let me, please know that i feel your pain. that is my best bill clinton impersonation. i myself for my family have applied for a mortgage in the post-dodd-frank era. i know what a hassle it is. i know how it is more expensive. dodd-frank and the obama administration has messed it up as badly as it can be messed up. fortunately the house financial services committee which i chair, stuart, passed something called the financial choice act. which will create a lot more hope and opportunity for
11:16 am
investors, consumers and entrepreneur. thus the acronym. what we see mortgages are more expensive, less available and they're a whole lot more of a hassle. the financial choice act will take care of this. fortunately now it will receive a much nicer welcome at the white house and the united states senate. so please know, help is on the way. stuart: that is help in a small area. you're not really talking about sweeping aside or completely rearranging dodd-frank, are you? >> well, no, we actually are. the financial choice act is a repeal and replace dodd-frank act. dodd-frank has failed in all of its promises. it said it would lift the economy and economy struggles alone. it said it would end too big to fail. it codified it into law. it would make our financial system more stable but big banks are bigger, small banks are fewer. it is completely new system for banking and financial markets. what it does, stuart, it replaces bailouts with
11:17 am
bankruptcy, a new chapter in our bankruptcy code to insure that we never have another tax-payer bailout that we did in 2008. it substitutes federal micromanagement for market discipline. and it essentially says, stuart, if you're willing to put he can quilt capital in front of taxpayer money, then you get a dodd-frank off-ramp. so we do have to protect taxpayers. we still have access to the discount window, the fed's discount window from the largest financial institutions. there is still deposit insurance. what we say, if you will have a prudent level of private capital, equity capital, in this case a 10% simple leverage ratio, all of these government regulations, this micromanagement, having the federal government in the boardroom that is out. but it's a choice you have to make. you can choose federal micromanagement or choose prudent levels of capital. it is rewrite. you will hear more about this
11:18 am
soon. stuart: i'm really pleased to hear this we were all surprised. we were sitting at table at the meeting, the subject came up, you have no idea how many people in that meeting, ordinary, regular folks, were having so much trouble with the paperwork, just plowing through it. one guy took three months to apply for and get approval for a mortgage. the lad makes good money. he is financially stable. anyway, i digress. but you feel my pain? we're very happy about that. congressman, you will be back because if we don't get changes in this red tape stuff, you will be back. >> i got my big scissors out, stuart. please know it. stuart: yeah. thank you, sir. we appreciate it. we'll see you soon. thank you very much. >> you're welcome. stuart: check the big board. stiff hovering around a 30-point drop. the trump rally overall is holding. we're on hold until the fed decides, or they make the announcement what they will do with rates a bit later on today. we're on trump tower watch of
11:19 am
course. yesterday it was outreach to minorities. today the president-elect's tech summit. this is a big deal and we're watching it. look at this. this is just a still shot for now. happened on live television, 9:00 this morning. we will play you the sound bites in full of my bro hug. we'll be back. ♪
11:20 am
11:21 am
11:22 am
11:23 am
stuart: football legend jim brown met with mr. trump yesterday and he was on this program in our last hour. here's what he had to say. it was donald trump who reached out to black folks and said what have you got to lose? >> that is his, wording was, not understood. he meant well but the way that he phrased it, that people resented it. but he was right on. he is accepting what we are presenting and his people, his advisors have accepted that. so we're going to work together to help this community be a better community. help this country be a better country. stuart: all right, steve forbes. as jim brown said, it's not about race.
11:24 am
to him it's about the economy. i'm sure you agree with that. >> yes, and sadly the party, the other party is pitting one group against the other, playing that kind of divisive politics. trump is result politics, get the economy moving, and fact he appointed betsy devos education secretary means education. that is where it starts, whether rural areas or inner-cities, giving people a real chance. trump is doing it in the immediate term with tax cuts and deregulation, also long term, getting education blob broken up and serving people instead of that union. stuart: earlier we had pastor darrell scott, he was with ray lewis at trump tower. he was on the show as well and he demonstrated the bro hug with me. roll tape. pastor, would you do me a favor. would you demonstrate with me the correct way to do a bro hug. >> you come in. stuart: we have shaken hands. >> dip your shoulder.
11:25 am
stuart: dip the shoulder. >> not full body can't. stuart: oh, dip towards. >> give me a pat. my brother. maybe two, maybe three, depends on intent. stuart: i gave you three. what a guy. >> like i said, honorary member of the african-american community. stuart: that will live on videotape forever. steve forbes, do you ever do a bro hug. that is not you, is it? >> i have, but nobody taped it. i'm good. stuart: this is how you do it. good morning, mr. forbes. that's how you do it. >> that is old school. stuart: it is actually. >> old school is coming back. stuart: well-said, steve forbes. market scan. i want to see all 30 dow stocks where are we, where we're going, how much green, how much red. don't have it. yes, we do. some are red, some are green. down 16 on the dow. voting irregularities in detroit again? i will have to thank jill stein, her recount uncovered this. napolitano is on it after this.
11:26 am
11:27 am
11:28 am
11:29 am
11:30 am
lou: 10 minutes ago we were down 30, now we are down 17. i will say the trump rally continues to hold. keith, a gentleman on the show this morning said by the end of this calendar year, you know what's coming. by the end of 2016 we'll hit 21,000 on the dow. what's your reaction? >> i have known shah for a long time. i think he's a smart guy, but i think that's extraordinarily aggressive. lou: are we going to get there yes or no and you say no? >> you never say never in this business. the feds on the sideline. and money still there. but we have a few things to sort out, not the least of which is janet yellen a few hours from
11:31 am
now. lou: are you hoping that we get a quarter point rise? >> we have to clean out the plumbing. the prior administration was not good at that. it was micromanagement by big government and tried to control everything. and in reality controlled nothing. city would welcome an increase because i would be happy to do that. >> talk to me about the big-name tech companies. their leaders are heading over to trump towers for a meeting face to face with big tech. are the microsofts and googles of this world. >> you can't just buy them all indiscriminately. you have to look at who has if
11:32 am
the most to gain from the trump presidency and who has the most to look. the fight with china makes facebook interesting given zuckerberg's interests there. i think elon musk is interesting because creating big jobs, he has a lot on the line. lou: i see amazon down again. jeff bezos owns "the washington post," "the washington post" is filled with venom against trump. do you think that's why trump is down this morning? >> i think he's one of the ones who has the most to lose. he was clear in the fight he picked with the president-elect. i would like to be a fly on the wall at that meeting. but yes, i think that's impacting shares.
11:33 am
lou: i'm not sure they will emerge and say anything frankly. thanks so much, keith. see you again tomorrow. voting irregularities in the city of detroit. in 37% of the city's precincts, more votes were cast than the actual numbers of registered voters. >> i think you have this wrong, it was chicago and not detroit. lou: it may have been chicago as well. this was jill stein temperatures recount came up what she was not expecting. let me tell you how this happened. the poll worker takes the ballot and puts it into a scanning machine and says, gosh, it jammed. do it again, and again, and again, and again. so the vote was count the constantly. >> that's a different kinds of fraud because that's the
11:34 am
government defrauding itself. the poll worker is a worker on behalf of the government. it's one thing for a stroart vote twice. we have had some well-respected people vote twice, without mentioning name. it's another thing for the government to actively participate in the fraud. either way, this is what donald trump warned about. his warning was accurate but not necessary for him to fear because michigan went for him anyway. that's the political analysis. here is the legal analysis. the law guarantees fair elections, not perfect ones. if it changed the outcome it would be unfair and would warrant a serious inquiry. it changes the raw vote totals, but doesn't change michigan's electoral vote totals.
11:35 am
lou: it happened in 248 precincts. more votes westerly counted than voters. >> will anybody be punished in probably not. lou: wrong. democrats were the poll workers. democrats have their votes -- >> it doesn't matter what party they are in. those people were working for the government. lou: it does to me. >> if republicans did it it wouldn't matter? >> i would be wildly unhappy. you always have to get in the government, the government. >> it's a government process. did you raid the book when the governments breaks its own laws? lou: which book was that. >> nine books ago.
11:36 am
stuart: . lizzy, i want information from you. when you use uber, you click on the uber app so they can finds you. a stop security guy is suing uber. uber said our workers don't access that to spy on customers. we just don't do that. this is a top security guy said wait a second. he's suing iesh. he says uber workers are using this tool to spy on celebrities like beyonce or stalk their ex-girlfriends ore ex-boyfriends. this lawsuit is revealing uber workers maybe doing that. that's scary. stuart: whoops the constitutional position -- what's the constitutional position of this. >> it's a violation using the
11:37 am
internet to invade someone's policy. you give up your location so the driver can find you. there is a statute directly on point. the same federal statute that's implicated when people go on the internet and pretend somebody someone else. stuart: do you use uber? >> no. stuart: do you use uber, steve? >> uber is great. stuart: both of these gentlemen have their own chauffeurs. >> what's wrong with a chauffeur or two? stuart: it's terrible news for uber. if you want privacy, you don't want people to know who you are or where you are. >> the civil suit would be
11:38 am
against uber. the criminal prosecution would be against the human beings who work for uber who are using it for an improper purpose. stuart: you could sell the information. >> that compounds the crime if they sell it? are they selling this information? stuart: we don't know that. >> a lot of people would want to buy that. stuart: are we done with you? >> i think so, for today. stuart: news out of japan and it has to do with casinos. liz: they legalized casinos in japan. this has been a big fight. the japanese government was worried about gambling addiction. shelton addelson said he will invest $10 million. he said he would invest $10
11:39 am
billion to build a casino in japan. that's a big deal. stuart: you have been to japan. aren't those pachinko parlors a form of gambling? ashley: yes, but they are not full-blown casinos. stuart: there is nothing happening on the big board and there wouldn't be much happening for a couple hours until we found out what the federal reserve is going to do. we were hoping to go on the air and say, 20,000, almost there. it didn't happen. we are down 17 points. president-elect trump's cabinet picks threaten to erase the last 8 years of president obama's
11:40 am
legacy. we remain and trump tower watch. remember this from yesterday?
11:41 am
11:42 am
reporter: no dow 20,000 for today. we have seen the dow with an up arrow for 7 days in a row. right now the dow is down. we are waiting on the feds this afternoon. will we get our second rate hike? two years? betters are saying yes. caterpillar is down. oil pulls back. yesterday we saw a bill, today a drawdown. we are seeing retail sales under pressure. drive three-quarters of a car? now if you had liberty mutual new car replacement™, you'd get your whole car back.
11:43 am
i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement™, we'll replace the full value of your car. liberty stands with you™. liberty mutual insurance.
11:44 am
lou: our next guest says president obama's legacy will be torn up by president trump. the people trump has named to his cabinet, i can't think of any which will keep the current. i in place. it seems the me he single one of them will reverse every single policy. am i right? >> i think you are right. i thought of the 15 appointees
11:45 am
so far, and there was not a single one who wanted to save what obama has done. most of them want to reverse it entirely. look at some of the recent ones. rick perry named as energy secretary, he wants to promote the efficient production of fossil fuels, that's the opposite of what the administration did under obama financing all these things like solyndra. stuart: i think mr. trump softened the blow by going to a wide range of people to make it look like he's embracing other points of view. but the people he actually appoints are almost entirely conservative. >> indeed. the ones he appoint are different from a lot of people we see going into trump tower and meeting with trump. we sawal goart other day, then
11:46 am
he hired scott pruitt to head the environmental protection agency and he wants to reverse practically everything it's don't last 8 years. and there are others. education, merely a colony of the labor movement. and so was education as well. what the teachers unions wanted. stuart: can you think of a single policy that won't be reversed by this incoming cabinet? >> be able to put your kid under the age of 2 on your insurance policy. that they will keep. stuart: that is popular. >> you don't have to keep it on it, though. stuart: nfl ledge end jim brown was on the show earlier today.
11:47 am
he met with president-elect trump yesterday. here is we had to say. it was donald trump who reached out to black folks and said what have you got to lose? >> his wording was not understood. he meant well, but it's the way he phrased it that people resented it. but he was right on. he is accepting what we are presenting. and his people, his advisers have accepted that. so we are going to work together to help this community be a better community. help this country be a better country. stuart: he says donald trump is accepting what we are offering. i thought that was very interesting. he didn't go in with a series of demands. i think it was the other way around. >> it was. look at ben carson. what's he going to do at the housing and urban development agency?
11:48 am
i think it will be more of what jack kemp tried to do when he was hud secretary. and that's not what the obama people have tried to do. they tried to coerce suburbs into being more racially diverse. what he will do is create anti-poverty, not just hand out money. stuart: i got my first bro hug earlier on the show. roll that tape. let's see if you can see this. would you demonstrate with me the correct way of doing a bro husband? >> you come in, collapse hands. not full body contact. and give me a pat. stuart: i don't know if you saw that. >> i did, i think you have got
11:49 am
to work on it a little bit. stuart: what did i do wrong? come on? >> you are just starting. you will get the hang of it. stuart: do you bro hug? >> me? >> yes, you. >> no, but i do use uber. stuart: what do you think of uber? i love it. stuart: what do you think of them spying on famous people like yourself. >> i have nothing to hide when i'm riding in a cab for heavens sake. stuart: do you get recognition. you walk down the streets in d.c., do people say that's fred barnes, watch out. >> no, they sometimes say it's fred why it beatle barns going back to the mclackland group. stuart: okay, fred barnes. appreciate it. check that market.
11:50 am
still down 30 points. staying with a loss of 30 points until maybe we hear from the fed. live report from trump tower. the tech ceos are expected to arrive this afternoon. maybe some of them are there already. who else will show up? your insurance company
11:51 am
won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back
11:52 am
including depreciation. and if you have more than one liberty mutual policy, you qualify for a multi-policy discount, saving you money on your car and home coverage. call for a free quote today. liberty stands with you™. liberty mutual insurance.
11:53 am
11:54 am
stuart: we are on trump tower watch. and connor is outside. have you seen any of the big tech titans coming or going? reporter: we have. it's interesting because it's a 2:00 meeting. it's one thing to get there an hour early, but 3, 3 1/2 hours is a bit much. but maybe she has other business. as i run through some of these names, there is a theme emerging. if you look at jeff bezos and elon musk and satya nadella from microsoft. it goes to the conversation you were having with fred barnes and steve forbes, meeting with people you don't particularly
11:55 am
agree with. transition officials have been stressing that mr. trump is making a practice of that. who appoints is sometimes a different thing, but he likes to bring in people from paul walks of life. the stated purpose of this meeting is to bring back jobs from overseas. did you see who was his first meeting today? zzekiel emanuel, the architect of obamacare. stuart: i tried to get him to afollow juice and he wouldn't. stuart: i have a feeling when they leave the meeting they will go out through a side door because they don't want to say if they have been beaten up. reporter: we have seen that before. so we'll see. stuart: president-elect trump promises america will be a rich
11:56 am
nation again. listen to this. >> to be a strong nation, we must also be a rich nation. doesn't sound so nice. a woman came up to me and said mr. trump i love your speech. but i don't like when you say a rich nation. i said, ma'am, you are a fabulous woman, but if we aren't a rich nation we can't rebuild our military and take care of the problems we have, including our medical problems. stuart: he's got a point. a rich nation? we can't be that. >> it's part of the war against political correctness and taking rich away from an epithet and make sit something good. stuart: nobody said i want to be rich. liz: an editor said the tedious
11:57 am
orgy of self-righteousness has to stop. stu require's a new mood in america. you can say things. you can be rich, you can be powerful and it's good. nothing wrong with it. >> absolutely not. and free markets makes everyone prosperous. stuart: we'll have more varney and prosperity after this.
11:58 am
11:59 am
stuart: kanye west at trump tower yesterday and he's back in the news today. ashley: he tweeted out a picture of a magazine cover. and he wrote to kanye, you are a great friend, thanks, donald trump. stuart: that's an interesting signature it's very stylistic. he signed the what? >> something about independence. stuart: was it the declaration of independence? he signed his john hancock?
12:00 pm
that looked very -- look at that. most famous people when they sign an aught grawf can't tell who it is. that's a donald. now, may i introduce neil cavuto with whom i am not going to do a bro hug. >> i think donald trump's signature looks like a geiger counter. stuart: i have 6 state years old and i don't wear glasses or con taxes and i can read it. neil: i was going to work on the italian hug are you. you hug closely, then you hear shots. stuart: that's good, that was very good. neil: i will try to top it. it will be hard but we'll do our best. 51 electors are demanding an


info Stream Only

Uploaded by TV Archive on