tv Varney Company FOX Business January 13, 2017 9:00am-12:01pm EST
inauguration next week. join us live from washington d.c. all week next week. we will take you live behind the scenes at the inauguration. yesterday, we had the rolls royce, today we've got this phenomenal sports car, bentley. send me a tweet and let me what you like best. my thanks to dagen, leah gabriel, best team in the business. see you sunday, "varney & company" begins right now, stuart, take it away. stuart: i prefer the red bentley to the white rolls royce. it's a color thing. maria: all right. stuart: see you later, have a good weekend. there's an all-out to attack and delegitimize the trump presidency. here is my question, is it working? they're making noise and the media is lapping it up. the confirmation hearings, and some issues, nominees are staking out positions that are
at odds with the president-elect. and the handling of the e-mail investigation, is that james comey-- >> the left is trying to spoil and disrupt the 45th president's celebration. the media will concentrate on the disrupters, watch out. yesterday a bizarre confrontation between elizabeth warren and hud nominee ben carson. she suggested that trump would benefit from housing. an attack on the integrity. no other president-elect has been subject to such contempt and it's not going to stop. america as a whole, this is very much my opinion, does not share this sour mood. consumer confidence is way up,
small business optimism surging and investors pouring into companies and mr. trump going offer the heads of the media with another flurry of tweets. sour mood, not here. it's friday. "varney & company" is about to begin. ♪ we're looking like we're going up at the opening bell, not much, but a little bit. 10, 15, 20 points higher. here is the story thus far in money. beg banks reporting profits. look how they performed since the election. okay? morgan, wells fargo, b of a up 35% since november 8th. what's the latest news from the banks. liz: it's the best performance since 2008. so bank of america and j.p. morgan solid quarterly profit growth.
bank of america up 47% quarterly profit. jp morning. wells fargo had the fifth straight drop after the fake bank scandal, but jamie dimon is saying the biggest bank by assets. the economy may be building momentum. he says there's good opportunity for good rational policies to spur growth. it's sort of like this line that i'm reading, that what's going on is like a country music record played backwards. that there's now positive feelings going on in certain sectors of the economy. >> that's interesting. >> positive feelings in certain sectors of the economy, contrasting with the sour mood in politics. >> yes. stuart: you know what you get. ashley: when your wife comes home, your dog doesn't die. liz: and your pickup truck starts. stuart: and go through the sour mood, get out. it's friday. it's "varney & company." more retile ice age, however. listen to this, lowe's may be cutting 3,000 jobs. 1% of the work force.
this company cut the profit outlook because of weaker than expected store traffic. fewer people actually going into the stores and the stock is probably going to be up a little bit. opening bell. j.c. penney says, it will be closing some of its stores, sales growth has stalled. it, too, will be up a little bit. now, we've got the latest read on retail sales? >> yeah, we did, up .7%. that was the estimate and actually came in .6 of%. i know you hate estimates, but we have to measure against something. what it shows and speaks to the narrative of the show, the retail ice age as we see, the on-line sales doing much better, up 1.3%. the department stores year over year down a whopping 7%. stuart: whoa. ashley: yes. stuart: that's-- >> very quickly, higher gas prices are having an impact on the pocket book as well. restaurants and bars, numbers are down .8%, after being strong. gas prices are sort of nipping a bit at those.
stuart: i want to get back to the mood of the country. democrats, again, my opinion here, trying to kill the mood of optimism in america. this is one week before the inauguration. tammy bruce is with us this friday morning. i think it's an organized attempt to delegitimize the trump presidency. is it working. >> no, it's not. they've been trying over a year nowment the left is miserable. they want everyone to be miss arable with them and here is the secret weapon, the thing that's new. and we wondered how is social media going to affect donald trump. going to help him or harm him? this is his ability to immediately get in there and get rid of the poison pills, 6:30 this morning eastern time the unaffordable care act will soon be history. that made the mood go up. 's not reliant on the media covering him or camera in front of his face, he can take
control of this environment and he's doing that. stuart: fbi director james comey is facing an internal probe of his actions during the campaign. what do you say about this? >> this is someone everyone generally expected. at the same time inspector generals are political appointees, he will be leaving, technically at the end of obama's term in a few days. traditionally you can allow an inspector general to stay and this is donald trump's choice and jeff sessions whether or not this will continue. stuart: the democrats have jumped on this as an example. they think why hillary clinton lost because of james comey and the investigation and e-mails. >> this is a signal how politicized obama's law enforcement agencies and doj became. this is not going to be going against trump. this is going to highlight and they better watch out what they wish for, this is going to come right back on to obama and making politics out of everything that mattered, including the fbi. stuart: please stay with us at least the next 25 minutes. several of the cabinet picks
are facing hearings. some of them, some nominees are going against the president-elect on key issues like russia, on torture and muslim registry. well, mr. trump tweeted this first thing this morning. all of my cabinet nominees are looking good and doing a great job. i want them to be themselves, and express their own thoughts, not mine. go pac chairman is here this morning. that's interesting, mr. trump wants to express their ownens about maybe in conflict with his own. not seen that before. >> any leader worth their thoughts thrive on leading a team with different opinions and different perspectives. in fact, leadership experts would tell you that you must have creative tension and differing opinions for an organization to grow. all of that said, all you have to do is watch a few episodes of the apprentice and you know, while mr. trump appreciates diverse opinions and wants to hear diverse opinions, he also understands at the end of the
day, he makes the decision, and once the decision is made, everybody carries it out. stuart: it's interesting the way mr. trump is playing this. the left sees this as division, not speaking with one voice. mr. trump in his tweet turns it around and makes it an asset. i want an administration with lots of points of view. and tammy bruce was just saying a moment ago, that's very good use of social media after the left has come pouring on with its scorn. >> sure, well, two things here. one, most democrats don't understand diverse opinion, you took at their caucus, everybody has to agree and be the same or you get thrown out of the caucus and they're doing everything they can to divert, as you said at the top of the show, everything to divert president-elect trump and their team from their agenda. here is what we've seen not only with the press conference and even this morning, the president-elect is not going to divert from the issues that got him elected.
securing the border, getting jobs created and repealing and replacing obamacare. no matter what the left has done, that's been his message since he was elected. stuart: fascinating stuff. david. appreciate it. good stuff. check this out, please, this is a rare, i mean, it's unique, a 156-year-old photo of president lincoln's inauguration going on display at a college in maine. this is the first photo ever taken of a presidential inauguration. we bring it to you because one week from today, we'll get the inauguration of the 45th president of the united states. business under attack by anti-trump groups, you know it. calls for an all-out boycott of l.l. bean, after linda bean, a company air donated 60,000 to a pro trump group. she'll join us later this morning and she says the boycott is unamerican. stuart: mexican cartels character in on the trump presidency.
opening bell this morning. big hit to fiat chrysler. mr. trump says build that wall. and the drug cartels and the human traffickers are cashing in on that threat. what's going on, ash? >> it's interesting because just reading some of the numbers. past six months border patrol apprehended about 1300 migrants every day. in the last six months about a quarter of a million people. what's happening is, the drug cartels and the human traffickers are preying on people's fear of a donald trump who spoke tough about border patrols, building a wall, more enforcement and so on. we're seeing a spike and until he comes into office the perceived weakness of the obama administration on the issue. and they're flocking over the border. >> let them in now and who knows what happens a week from now. got it. we're told that some of the immigrants are going to chicago ahead of the inauguration. sanctuary city, liz.
liz: yeah, what's happening the mexico consulate is speaking-- he's the ambassador in chicago. he says, yes, illegal immigrants are flooding into chicago. he admitted it. what's happening, chicago is a sanctuary city and the mayor, rahm emanuel says we'll always be a sanctuary city. can the administration stop it? . and firefighters say chicago isn't a sanctuary for us trying to protect the city. stuart: that indicates division. liz: for the government workers like the cops and firefighters who have to deal with the influx. stuart: and their pension funds. liz: are underwater. stuart: are at risk and spending money defending illegals. >> what's fascinating, too, you know the homicide rate. that's fed in large part by the gangs, the hispanic gangs, ms-13. we know that that's the violence that's feeding all of this murder, generally, and then young men of color who
have no jobs, have no prospects. because of the economy, then are defending their neighborhoods and getting involved. when you have this dynamic pouring in chicago, you're creating ten times more the problem than they've been experiencing. stuart: what are on earth are the chicago authorities, mayor rahm emanuel, what are they going to do when they're in the position of defending an illegal immigrant, a gang member, maybe a murderer, to that? i mean, are they going to spend taxpayer money defending that person. ashley: yes. stuart: because they're a sanctuary i city. ashley: yes, san francisco is putting together a fund to defend these. stuart: you can't win. america will say, what are you up to. liz: when you announce you're a sanctuary city, it's often a magnet. stuart: i would imagine so. >> and the same liberal policy, everybody deserves a defense paid for by taxpayer dollars and law enforcement didn't
arrest an individual because of policies allowing them to stay. the left doesn't think that far, but when they get there, it's like jumping into the volcano. liz: i'll make a final point. mayor rahm emanuel did have a million dollar fund to help protect. ashley: pensions are underwater. stuart: general mattis, asked-- confirmation hearings yesterday, nominee for the military. he was asked about gays during his confirmation hearing and here is what he said, roll tape. >> do you believe that openly serving homosexuals along with women in combat unites is undermining our force? >> senator, my belief is that we have to stay focused on a military that's so lethal that on the battlefield, it will be the enemy's longest day and their worst day when they run into that force. stuart: that's an interesting response. tammy bruce, your response to that?
>> as a feminist i'm embarrassed women were asking about climate change and gays and not readiness. and the response to the senator he said i don't care who people go to bed with. he cares about that force being ready. and that's exactly what this nation needs, that means all the talent, but making sure the people who are there can do that job and that's what matters to all of us, regardless of sexual orientation, race, complexion, anything and he's got it right. he wants a fighting force that kills people and breaks things, that's what he wants to be good at. liz: stop the bad guys. stuart: we're going to have to take-- we have to pay the bills around here and the bills for us is y we'll be back in a moment. [laughter] what's happening here? this is my new alert system for whenever anything happens in the market.
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on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. >> mexico's president continued it insist, no, mexico will not pay for the wall. and who better on this than louie gohmert from texas. i think it's going to go for this, taxpayers pay for the wall because we want to build it fast and then give the bill to mexico. >> i think so, because trump used the word reimburse.
you know, people are rounding the views of reimburse. you reimburse because we go ahead and build it because we don't have time to wait for mexico to figure out it's actually in their best interest to build a wall. i mean, stuart, you understand business. they apparently have leaders that don't. what is the reason that mexico, with a massive natural resources they have, with the incredible hard working population they have, why-- they're just an incredibly opportunistic location between north america, south america, two oceans. why aren't they one of the top five or ten economies in the world? it's because the drug cartels, you build a wall. stuart: got to build it fast. >> you build the wall we shut down the drug cartels and mexico becomes one of the top ten economies in the world. it's in their interest. they'll thank us and pay us later. seriously. stuart: i know you're plugged into this about tax reform. >> yeah. stuart: seems to me the incoming administration is
going to go first to repeal and replace obamacare, that means cutting taxes will be delayed until probably way out there in the summer. is that how that's going to go down? >> well, we're not so sure about that. i mean, the government does go on, you've got to pay for all of the these medals the presidents and vice-presidents are giving themselves we can't let those go unpaid for. i don't know if we're delaying taxes, i don't want to send that out. stuart: you know how i feel about my tax cut. i've been pounding this table for several years now. >> i know, you and warren buffett have been saying you need to pay more taxes, i know that, stuart. stuart: stop it. [laughter] do you ever want to come back on this program, congressman? >> i love talking to you. stuart: there really is no way around this. you can't just repeal and replace obamacare with a snap of the fingers. that's going to take some time.
>> stuart, but, stuart, if we pass a repeal of obamacare, it doesn't end the obamacare policies today, that would leave people without any insurance at all and they need the high deductible policies they'll never get any benefit from. so we repeal-- stuart, we repeal it now, they'll have those policies for the rest of the year, that's not going to happen instantly. we do need to repeal it instantly so they can start getting insurance companies to make better plans for the future. stuart: speed up my tax cut, lou. >> there you go, you betcha, that's what you need to do. thanks, stuart. stuart: i appreciate it. story i interrupted him. disney in talk with carrie fisher's estate to use her likeness in upcoming "star wars" movie. how about that? more trouble for retailers, j.c. penney is closing more stores. lowe's the home improvement people planning to cut thousands of jobs. we're on it. retail ice age. back on it with the opening bell. the bottom line is, for your goals,
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>> well, ladies and gentlemen, i have a difficult task, there are now 34 seconds to go before trading begins on this friday morning. so i have to basically tap dance for the next 30 odd sessions and fill you in on the backgrounds of the opening bell this morning. first of all, we had retail sales figures, which showed
that on-line selling was doing extremely well and department stores are pay, pay down. that's in the news background. we're looking for a gain of 25, maybe 30 points at the opening bell which comes up now in five seconds' time. it's friday, we're closing out the last full week of the obama presidency, ladies and gentlemen, we're off and run 9:30 eastern. i see green on the left-hand side of the screen, up 19 points in the very early going. we're up, not much, but we're up and it's 19, 910 is where we are. quickly, to the other indicate -- indicators. quickly to the nasdaq. home of technology. up 2%. and oil $52 per barrel. okay. i'm going to start with the big banks, a couple of them reporting very strong numbers this morning, in particular j.p. morgan and bank of america.
their numbers were strong, wells fargo not so good. that's the financial back drop to the opening of the market this morning. covering it for us, ashley webster, liz macdonald, scott shellady and jeff sica. scott, are you encouraged by the bank numbers? >> yeah, maybe beaten up so much maybe we're seeing the sentiment. we need to see the economy come in and fill in behind. i think that the banks are now going to start to get the shackles taken off and with the spending plans and see more business. and ultimately a healthy thing for them. that's very encouraging and we see those things show green, green grass, that's good for the economy. stuart: you would agree with that? >> i think that the banks would benefit from the rising interest rates because they've had compressed margins. but one thing banks are considered.
some banks are up 20, 30% ahead of the election, i think they're ahead of themselves. stuart: that's an extraordinary run. do the banks tell us that the economy in the future is looking a bit stronger? >> it tells us that there's optimism as there should be optimism, but the market has gotten ahead of itself. what investors have to realize, especially investors in bank stocks, they have to realize we may have to endure some pain in order to get to that place. stuart: a word of caution from jeff sica on a friday morning, why not? now, here is where there's some real negativity, pessimism. i'm talking retailers, brooks and mortar. j.c. penney is closing more stores. lowe's, in the home improvement business, they, too, are laying off thousands of people. are there any bricks and mortar retailers that you would touch at this point? they're beaten down. >> i have to say something shocking right now because j.c. penney, i think, right now is starting to look intriguing to me and i think, you know,
they've suffered a lot, obviously. they're closing a relatively small number of stores, around 67 stores, i think their model to get people into the stores, in order to enter-- be interdependent with the internet is going to create more revenue in the stores. if i were force today buy a retailer, it would be certainly be j.c. penney. stuart: that's interesting because a lot of our viewers are long-term investors, you buy it you hold it. those of who are waiting to buy, 50 cent move, jobbing pen w j.c. penney. they're outperforming others. stuart: they're a trading vehicle for those who want in and out. >> and also, what they're finding when people order off the internet and go into the store, they buy more goods. and i think j.c. penney understands that model and if
they execute on that model, i think they could have a turn around here. stuart: okay. financials are leading the market higher, we're up 38 on the dow industrials. fiat chrysler, whoa, what a drop they took yesterday when the epa accused of company of emissions violations, down 10% yesterday. they're fighting back. ashley: they are fighting back and they say they're disappointed. they disagree with the epa and say they have a state of the art emissions systems in the vehicles, particularly the dodge ram truck and the jeep grand cherokee. they totally disagree and look forward to proving the epa wrong. stuart: not helping them. down another 2%. >> the timing of the epa, volkswagen paid nearly 4 million with criminal charges, it seems suspicious to me. stuart: the timing of it. >> before trump comes in, the epa puts this out here. we have to take a look at it, it doesn't seem right.
stuart: you're not a conspiracy theorist. >> they paid $4 billion. and fiat chrysler is going to pay near 4.5 billion in fines for pollution, and to me, the timing just does not seem right. stuart: we're up 44 points on the dow industrial average in the first five minutes of business on wall streetment we are at 19, 935 as we speak. more -- nasdaq, did you say, justin? nasdaq all time high. i remember in the late '90's and early 2000's, we never thought that nasdaq would get back to 5,000. now it's at 55. scott shellady, i know you're over there in london. what do you make of the nasdaq, another all-time high, i did not expect to see this happening. >> no, i think the japanese are drooling with envy how our markets are recovered. i remember being here 20 years ago and seeing the nikkei up around the 40,000 level. so, to get back up to those
heady heights that we saw i think is pretty fantastic. i think it does speak more toward our tech revival and innovation that the americans have. i think it's a great thing and i, too, am surprised about how well it's done, but you know, those big tech companies are really what's going to lead the way and that's what you say about some of the retailers. it's all about on-line, and all about the internet and all about technology and i think that's an indictment of that. stuart: now, several big banks are reporting their profits this morning, as well as bank of america, jp morgan. for example, black rock and pnc, yes, black rock is a bank and pnc financial is doing very well, thank you. both of them up this morning. we have to-- takata paid for the air bag probe. and taco bell's chief brian nichol says the company is on track to add, wait for it, adding 100,000 new jobs in the
u.s. over the next five years. yum! brands. okay. what's going on, nicole. nicole: what we're looking at right now, yum! brands is up 1/4 of a percent. and bring pandora to your attention and that had layoffs. they're actually going to cut 7% of theirs in the first quarter. it turns out they're doing pretty great. over 4 million subscribers, but intense competition from spotify and the lake and premium pandora and continue to expand and gain subscribers, but they need to cut costs and this is how they're doing it. cutting the people and cutting the cost in order to boost revenue going forward and stocks jump 7 1/2%. stuart: ain't bad, i'd take that. disney is negotiating with carrie fisher's estate for future princess leia in the "star wars" movies. ashley: she's already going to be in episode 8. she will be in. the question is they're trying
at some point will have to digitally replicate her character's likeness. they did that with peter cushing who died 15 years ago. critics say it's pretty immoral, very immoral to continue to bring back dead movie stars and unseemly and hastily. liz: to make money off merchandise. ashley: yes, it could be the movies, but certainly on the merchandise. stuart: okay. don't forget apple, that they may give amazon and netflix a run for the money with the streaming of original content. streaming is not new. what do you say about apple at 119? >> well, you know, the thing is, i had said that apple should buy netflix in 2012, and i was in the wall street journal saying it and on this show saying it. apple now the johnnie come lately again, no innovation and finally realize that content is king. netflix is going to spend $7 billion on content this year.
i mean, netflix is the king of content. they are rolling and apple is so far behind. stuart: you don't think much of the apple-- >> obviously, because people have the devices it seems like it makes sense, but they have a lot of catching up to do and it's not going to happen overnight for them. stuart: okay. i want to move on to scott. what do you say about apple at $119 a share? >> you know, i used to envy them and the way they would capture your whole family, the phones, the tv, i mean, the computers, everything. but, yeah, they're dogged by the next big thing and if we all knew what that was we'd probably not be sitting here. going forward i think they do struggle and agree with peter. the next big thing they've done very well, but the shine seems to be coming off the metal and going forward, i think they're expensive. stuart: i noticed here i've got facebook at 128 this morning, it's up $2. that's interesting. liz: yeah, it's interesting.
stuart: that's making the going here. up $2 on facebook, 128. got that. there you have it, 128. ashley: the analyst upgrade. stuart: that's what. ashley: raymond james. stuart: on this program on several programs, people have said that facebook is going to be the first trillion dollar valuation. ashley: mike murphy, yeah. stuart: of any company in the world and you said that, too. >> yes. stuart: sica, the mega bear. [laughter] it's going up a lot before it hits a trillion bucks. morgan stanley hit a high. goldman sachs a nine-year high. goldman sachs alumni will be in the white house. main street sees this, might like that, maybe. i don't know if they like it, who cares? the stock is way up. before you go, let me see, we've got the dow industrials. okay. speaker ryan said that republicans are moving as quickly as they can to repeal and replace obamacare. so, when will i get my tax cut?
i think that belongs in a different block of the show. i think that was a misplaced piece of script, i don't care what you say, it's a misplaced piece of script, got it. the dow industrials are now up at 19,947. that means they are 50 points away from dow 20,000. all right. got to end it there. thank you. ashley: you made a pitch for your tax cut again. stuart: i did. okay. [laughter] scott, i don't know what you're doing over there in london again, but look good in the cow jacket with the houses of parliament in the background and jeff sica you're all right, too. check the big board, 56 points higher 19,947. and now this again. i'm not sure i'm going with this, due warning. speaker paul ryan says they will repeal and replace obamacare in one step at one time and the republicans will get it done in the first 100 days of the presidency.
we're on it. elizabeth warren goes after ben carson. saying that carson would benefit trump's real estate business. my take on that at 10:00. we're one week away from the inauguration. several protests are planned. fun fact. 200 bus permits have been requested for friday for a protest. i'm sorry em , i'm a little confused. i'll sort it out. we'll be right back. might might
about 20k all over again, but we are only 48 points away from it. got it. big name movers for you, monster beverage, up 3%. nice gain. grub hub, morgan stanley upgraded them and they're up 2% at 38. look at this, facebook, it's now up over $2 at 128. raymond james likes them, says buy them. facebook is a winner. the so-called border tax that president-elect trump is proposing could raise 1.2 trillion dollars over a 10-year period. is that right, ash. ashley: that's right, this would be-- that would, of course, help off set the loss of tax revenue from the corporate tax rate cut. there are those in congress who say 20% bat, border tax, is just not reasonable. they say it would likely be closer to 10%. stuart: okay. liz: wait a second. stuart: you've got a lot more
revenue coming in from a border tax which would off set the revenue lost from a cut in income tax rates. so the tax-- >> that's like the vats, value added tax that crushed europe's growth and this is a george hw moment that basically the republicans are setting, steve forbes agrees, a trap for trump saying it's a read my lips no new taxes moments. passed on, steve forbes is arguing, in the form of higher prices. stuart: jeff bezos has a house in d.c., how much. liz: basically tens of thousands of square feet. it's a former museum. stuart: 23 million. liz: it's 23 million, and turning a museum into a single family home and it's an enclave for ambassador and cabinet secretaries. two or three years ago he said he wasn't going to move to d.c. when he bought "the washington post."
a temporary home, a heck of a temporary home, not a temporary home, home he could visit. stuart: he's the third richest man in the world. let's leave it at that. republicans took the first step towards repealing obamacare and donald trump is tweeting out this morning, the unaffordable care act will soon be history. marc siegel, the doctor is with us. the point is, what follows obamacare? what do we replace it with? are you going to tell us? >> well, i think we can replace it with something more affordable. i think that president-elect trump is right about that. look at it this way. you go to the doctor's office and you have a prefixed meal and load it up, everything that's in there. mammograms are covered and maternity is covered and how did lawyers figure out what's going on in the doctor's office? i'm asking the question. we're changing to a banquet. you get catastrophic insurance everybody gets, but then the doctor and patient gets to choose, choice.
do i need salad, do i need a meat, do i need dessert, right? is the dessert good for you? maybe it's not because you're overweight already. listen, it's a personalized approach and fixed in with high technology. here is how it's going to work. it's going to be catastrophic, high deductibles, and health savings accounts being expanded, so you pay out of pocket with big tax deductions and you get to choose what you need. stuart: because the mandate is gone. the mandate says you must cover this, this, this, this and this. get rid of the mandate and then you have the buffet where you say i want this and i want that and you pay for it. that's it? >> yeah, because, look, the mandate ropes young people in. it cons them into the game where they have to have this big prefix and they don't have an appetite. they have no appetite. and they're paying for mammograms, and diabetics. look, we're not socialism here, right? so i'm sympathetic for a 70-year-old diabetic having their care paid for, but i
don't really want my 25-year-old healthy individual to pay for it and they know that, and that's why they're taking the penalty. 42 billion dollar for the subsidies on state exchanges, 42 billion a year and individual mandate that you mentioned only brings in 3 billion. so, everyone's talking about the problem with the repealing obamacare taxes, but the amount the federal government is paying in obamacare is huge. so, i think-- some of your guests said it this week. >> i think they're right. get rid of the obamacare taxes will be a relief and getting rid of this, big, big program, federal regulations. stuart: i want a buffet, pick what i want. >> yeah, you're skinny. stuart: thank you very much indeed. and i want the market, a sense of the overall market, a majority of the dow 30 stocks are in the green. that means they're going up and we're higher by the tune of 50 points on the dow. the internet sensations, diamond and silk, they're former democrats and they became famous on youtube
president-elect trump recently retweeted a message from one of his supporters. here is the tweet that the president-elect retweeted. here it is. it's morning in america again, thank you, president-elect donald trump. so proud of you, thanks. joining us now is the person who trump retweeted, amy, welcome to the program. >> thank you. >> why are you so much in favor of donald trump? >> because my heart has been crushed at the devastation that has been happening in our country in so many different ways and the state motto of south carolina is "while i breathe, i hope" so even through all of these past eight years, there was still a tiny glimmer of hope and that became
a lot brighter when donald trump became elected and i think when brexit happened i thought, you know what? we're going to experience another brexit in our country as well. stuart: you were following coverage of brexit and you saw that as a sign of things to come in america. >> yes, i do. stuart: when did you first start to support donald trump. when did you first latch onto him? >> i started supporting him not right away. i was initially supporting scott walker and he dropped out. and then i was supporting ben carson. and i realized that ben carson wouldn't be able to pull it off. and i became more and more convinced that donald trump was the chosen man to be our next president, i'm a christian, and god spoke to my heart. stuart: that's interesting, amy, you see that. >> who i should support. stuart: we had the reverend franklin graham on the program, he said he saw the hand of god
in the election and i take it you feel the same way? >> yes, i do. i was so excited that he was having prayer rallies in every capital and every state capital. stuart: you said it's morning in america. >> that's what has brought-- >> hold on a second, you said it's morning in america, that was your tweet. that's from ronald reagan, i think. >> yes, yes, it is. stuart: okay. >> i want to see america-- >> and retweets anybody. amy, i've got to run, but thank you for being with us, god bless you and see you. >> thank you, it was a privilege. stuart: thank you. check out the big board, not so good. we're up 30 points. we were up 60. okay. got it. 19-9. senator elizabeth warren goes after dr. ben carson suggesting housing policy could benefit financially president trump. president-elect trump. my take on that is coming up the top of the hour and internet stars diamond and silk, former democrats, made
neil: remarkable scene in washington largely inin order by most commentators. it should be front and center of political coverage. democrat senator elizabeth warren went off ben carson. she argues that housing policies would benefit trump financially. mr. trump has a small investment in a affordable housing project in brooklyn, new york. dr. carson dismissed charge. it was bizarre confrontation. elites on the left going after man who has known genuine hardship. a little background. elizabeth warren played the racial spoils game. she falsely claimed native-american status to get
the job. that is why trump calls her pocahontas. she is member of the elite. she owns high-end housing. she goes after a black man who used his extraordinary talent to become one of the world's great brain surgeons and who knows first-hand what it is like to be at the bottom of the housing pile. she challenges him. that is bizarre. the pundits suggest that senator warren wants to run for presidency. that she is using the hairs as a platform for her future run. good luck, senator. a candidacy from the coast elites by a far left senator who was not truthful about her own ethnicity, is surely a long shot for the oval office. the second hour of "varney" and company is about to begin. stuart: we had a nice rally.
it is fading. we're up 25 at 19,911. we do have another record high for nasdaq composite index, home for smaller technology companies, up 25 points at 5573. big banks hitting new highs today. goldman sachs, morgue morning and jpmorgan, new highs for the big banks. they're making a great deal of money. pandora, that is internet radio basically, planning job cuts. wall street likes it. stock is up 6%. facebook is up very nicely, a buck 64 higher at 128. raymond james likes the stock. recommended it. up it goes. weak sales in the, weak outlook for a gamestop, biggest intraday drop in more than two months. it is down nearly 9%. nintendo's new game consoles launching in march. the cost is $300. investors don't think much of that, down 6% on nintendo.
senator elizabeth warren challenged dr. ben carson, there was an exchange during his confirmation hearing. watch this. >> not one dollar will go to benefit either the president-elect or his family? >> it will not be my intention to do anything to benefit any, any american. >> i understand that. >> it is for all americans, everything that we do. >> do i take thato mean that you may manage programs that will significantly benefit the president-elect? >> you can take it to mean that i will manage things in a way that benefits to the american people. stuart: let's bring in trump campaign spokesperson, erin elmore. frequent spokesperson during the election. >> sorry, took time off. stuart: senator warren is suggesting that mr. trump has 4%
ownership stake in star city, a housing program in brooklyn, that hud programs under ben carson will benefit mr. trump financially. that was the charge, conflict of interest. what is your response? >> she is sanctimonious standing on ceremony. this is her platform to launch whether it is presidential campaign or just promote her special interests. to be honest we know this isn't dr. ben carson is there to use common-sense approach to the benefit the american people. stuart: that is what he said. >> and it is truth. stuart: he would have a common-sense approach. >> right. stuart: senator warren says your policies will make money for donald trump. he says am i to abandon a program that benefits millions of people, because one person who you are targeting might gain $10? >> correct. doesn't make any sense whatsoever. like she is saying if donald trump can benefit, if someone less qualified in mr. trump's companies that he has no interest in, if they're better and more qualified for the job, why can't they have that job? stuart: got it. erin, stay with us here.
i want to deal with obamacare for a moment here. speaker paul ryan addressed that issue, obamacare. listen to this. >> we are in complete sync. we agree. we want to make sure we move the things con turnally, at the same time repeal and lee place. we need to show there is better way forward. even though this law is collapsing we can bridge ourselves to a much better system. stuart: peter morici, tenured economics professor, bow tie wearer, is with us this morning. you say the key job reforming, repealing, getting rid of obamacare is to get the cost of health care down. that is to you is absolutely job one, right? >> absolutely. the price for health care is too burden some. if we cover everybody and not have exorbitant premiums, doesn't matter whether very with the ryan program, obama program,
or any other program, that is we have to control prices. that is it what they do in germany. germany covers everybody. they have a private insurance system. it is not a single-payer system around not single provider system. people are very satisfied. they spend 11 or 12% of gdp on health care. we spend about 18. same applies to the dutch. but the secret is, they control prices effectively. now ryan's notion somehow or another having interstate competition for health insurance policies and providers that is not going to give you lower prices. if it were, we would see indications of that in the very large states, like new york, and california. california is an economy as large as canada but its prices are much higher. no, we're simply going to have to find some way to regulate prices. mr. trump was actually starting to drive at that in his press conference. stuart: i'm surprised to hear an economics professor talk about price controls in health care industry. i have not heard that he have about, peter.
>> well, the thing is, sometimes we have market failures this is why, for example, we don't have private fire departments. we have one fire department. we don't have a private army. we don't have let it charge what it chooses or police department to charge you for police protection. this is, this is an area what we call market failure. not a public good like police protection although they made it that in britain, not very well. it is not, like watching fox news which is a private good and there is open competition. what we call a merit good, something in between. not to get too wonky but in economics times like that, you have to regulate competition, so that it can be effective for the consumer and also for the producer. stuart: real fast, peter, congressman kevin brady, chairs the house ways and means committee, tax-writing people of congress. he told me 22 taxes will disappear when obamacare is repealed. now, 22 taxes, does that mean they're going away immediately? you pass the repeal bill, they
go away, is that accurate? >> i don't know they can afford to do that because they will have a transition period from one system to another and that has to be funded but at the end of the day if they are going to cover everybody say through risk pools, they will need a source of revenue to do it, so if all of those taxes go away they won't be able to subsidize the risk pool without cutting spending or raising taxes or increasing the deficit someplace else. now i can think of plenty of places to cut spending but i don't know that president trump is inclined that way. today, yesterday, he announced the appointment of a golden, goldman sachs executive in charge of philanthropy essentially in that place, to make economic policy in the white house. she is a clinton apostle. i think that we're going to have a lot of liberal social policies coming out of this white house. i find that very disturbing. when pressed yesterday, the education secretary, big advocate of vouchers and so on about what goes on in higher education, basically point a
finger at a guy, railroad him out of school, to the point even harvard business school faculty objects, you know, we didn't see a strong defense of repealing a lot of this witch-hunting going on on campus. i am very, very suspicious that donald trump deep inside is kind of like mayor bloomberg. runs as republican. then become as democrat on a lot of policies once he is in. watch out. stuart: we hear you, peter, on a friday morning, delivering very interesting message there. peter morici. we'll see you begin real soon, peter thank you very much. >> take care. stuart: bizarre moment during a c-span much their coverage of the confirmation hearings. watch this. >> take our cop on the block, the sec, analyst rally obliterate -- ♪ stuart: that's rt television backed by kremlin.
ashley: woke you up, didn't it? maxine waters giving a speech on sec regulation. then poof, we're into russia today for about ten minutes. conspiracy theorists believe because maxine waters was repeatedly talking about donald trump and russia, there was some skulduggery afoot, to quote sherlock holmes but c-span says routing problem as they say in this country and they say it was not hacked as some had suspected. russia today playing some games with c-span. but it made it kind of entertaining. stuart: conspiracy they'res will have field day. ashley: absolutely. stuart: i have breaking news from trump tower. liz, more meetings? liz: yeah. richard trumka at 11:00 a.m., afl-cio head, and also lockheed martin ceo marilyn houston at noon. stuart: she has gone back? liz: gone back, interesting after trump said hey, wait a second, not liking job losses. stuart: cost of report of getting f-35 fighter plane.
liz: get the costs down. stuart: bikers for trump, planning to ride to d.c. for the inauguration and go toe-to-toe with protesters. one of the bikers joins us in just a moment. linda bean, part of the l.l. bean family, she says she is being bullied by anti-trump liberals because she gave money to trump. joins us to defend herself later. vice president biden receiving a surprise medal of honor. president obama calls him the best vice president america has ever seen. more "varney" in a moment. >> stand up, chuck. let them see you. oh, god love you. what am i talking about. i tell you what, you're making everybody else stand up though, pal. [bleep]. unchain wall street. [booing] growing to put y'all back in chains. for their trust and confidence. i have a lot of thanks to give out here.
first and foremost to my perfect wife. my dad gave me those shares, you know? he ran that company. i get it. but you know i think you own too much. gotta manage your risk. an honest opinion is how edward jones makes sense of investing. is it keeps the food out. for me before those little pieces would get in between my dentures and my gum and it was uncomfortable. just a few dabs is clinically proven to seal out more food particles. super poligrip is part of my life now.
♪ much more than this, i did it my way ♪ stuart: paul anka, singing i know that song, "my way." listen, he is doing it at the inauguration next week. liz: he will sing it for donald trump's ball at the ball. he will rewrite the lyrics. stuart: he will change the words? liz: this is paul anka'sing song. he wrote the song. he will rewrite for his old friend.
is he my long-time friend. happy to do it. lee greenwood singing god bless the usa on the show. stuart: was on the show couple months back. great guy. fantastic voice. the inauguration, is disruption is planned, however pikers for for -- bikers for trump plan to ride into d.c. to support president trump. chris cox, bikers for trump. you ride into d.c. to support mr. trump and going toe-to-toe with the protesters. i heard that, that sounds like a confrontation to me, chris? >> well the bikers are certainly used to being outnumbered and we are prepared to form a wall of meat. but we're confident that law enforcement, that they have learned their lessons and -- in chicago and arizona, if it was anything like it was in cleveland, they will have things under control.
we're anticipating a celebration here. we don't anticipate any problems. we have a strict code of conduct where we don't condone violence. but again the event we're needed, you can certainly count on bikers of for trump to form a wall of meat. stuart: a wall of meat. that is an interesting phrase. i believe you will be vastly outnumbered. anti-trump groups are reserving in materials of parking spaces i understand, they got far more than the pro-trump people. is that accurate? >> well, again, we're use to being outnumbered and we're very confident. our group is full of, you know, the backbone of the biker community is the veteran, and so these are guys that aren't really used to backing down. you certainly won't see bikers out there screaming, calling for the destruction of private property or the death of police officers. we're going to be throwing the halftime inauguration rally at john marshall park, that will
kick off shortly after donald trump exits the stage to go into the capitol. it will end shortly before the parade on pennsylvania avenue. stuart: why are you such a big supporter of donald trump? >> well, like donald trump, the bike hears an outspoken nature, and so, as donald trump came on to the political scene, the biker who was looking for someone outside the establishment. someone going to stand up to, call it what it is, radical islam, is one of the biggest talking points of bikers for trump. illegal immigration, one of our sweet spots getting behind the american veteran. we believe it is incumbent all who understand the value and sacrifice of our servicemen and women that we are there for them. we've got to change these policies now. chris cox, thanks very much for joining us this morning. we wish you well at the inauguration this beak. we'll be following you. chris, thanks a lot, sir. >> thank you stuart. stuart: look at this, this is
amazon, it is going places. $819 a share, up five bucks. just yesterday they announced they will hire 100,000 people for brand new jobs, full benefits over the next 18 months. liz: growing its workforce by 30%. that is a big boom. stuart: expecting good business down the road. so the stock is going up and up. i think 854 is the all-time high. facebook is on the way up as well. they received a recommendation, a buy recommendation from an investment firm. now they have reached $128 a share. i think the record high was just over 130. they're getting very close. look at lockheed martin, please. the ceo is at trump tower. the stock was upgraded earlier. it is hitting session highs right now at 254, it is up a buck 62. show me the market scan please, so i can have a sense in overall market. looks like the losers have the
upper hand over the winners among the dow 30, even though the dow is up 25 points. going to say it again, diamond and silk, famous for their political cop men terri on youtube, on the show in 20 minutes time and sending this message to president obama. >> ♪ nan, na, hey, hey, good-bye. >> now we out with the old. >> yeah. >> in with the trump train, baby that's right. >> choo-choo!
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>> i'm pleased to award our nation's highest civilian honor, the presidential medal of freedom. [applause] >> i don't deserve this, but, i know it came from the president's heart. [applause] stuart: clearly emotional vice president biden there, awarded the presidential medal of freedom. he said he didn't deserve it. what else did did he say? ashley: he said too president obama, i have never known a president he said, few people i ever met who had integrity and decency like you do. he went on to say michelle is the finest percent lady in my view that ever served in the office. and president obama calling biden the best vice president america's ever had. this also gives the internet one
last chance to talk about our bromance. stuart: okay. i want to get commentary from erin he will more. a trump supporter. part of the trump campaign. you are gung-ho for donald trump. >> okay. stuart: i think joe biden is good man. i don't care what you think about his politics and some of the things -- i think the man is a good man. i think he deserved that honor. you say? >> i agree with you. he is a good guy. he is no longer the most outspoken person in washington. stuart: who is? >> donald trump. stuart: got that right. but he is a good man. >> he is a great guy. he looked truly honored and shocked and surprised. we need him to have the moment. we don't have to be partisan here and now about this. stuart: i would say, had he been the democrat candidate in november of last year, i think he would have beaten donald trump. i'm sure you're going to disagree with me, but what do you say? >> it would have been totally different race. i think donald trump, it still would have turned out the way it did because people were fed up with business as unusual in washington. they wanted a change and wanted to see an outsider but maybe
tighter. stuart: would have been very interesting, wouldn't it? erin, thanks for being with us all this time. we appreciate your presence. >> thanks for having me. stuart: look at fiat chrysler. the stock is down again. it was off 10% yesterday. down another 2% today. what is the problem? the epa accused fiat chrysler of emissions violations. and look at this, the painting still hangs on capitol hill depicting pigs, cops, rather as pigs. it has been up, it has been down. look at that, right above it, someone posted a message, blue police officers matter. pretty good antidote. fbi is being investigated over his handling of the matter. congressman jim jordan is on the show next. ♪ just like the people
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lowe's improvement cutting jobs. jc penney closing stores. ashley: it closed 90 stores in the last few years. we mentioned earlier, jc penney did better than its rival macy's and kohl's. lowe's less than 1% of its workforce will be reafter he signed and some people will lose their jobs. stuart: nor floor traffic. breaking news from trump tower. anthony scaramucci has been given a job. >> i'll in the office of public liaison trying to get the president's message out to the intergovernmental agencies and
also the commercial message to american businesses and the international business community. so one of my personal goals is to get the american people to see president trump the way i see him. liz: he's apparently going to move into the office occupied by valerie jared. it's a powerful position. he's acting as a liaison between the with it house and the business world. stuart: he's got his own company. senator elizabeth warren angry, confrontational, going right at dr. ben carson during his confirmation hearings to run hud. >> not one dollar will go he
benefit the president-elect or his family. >> it will not be my intention to do anything to benefit any american. for all americans. everything that we do. >> do i take that to mean puff may manage programs that will significantly benefit the president-elect. >> you can take it to mean that i will manage things in a way that benefit the american people. stuart: a little background here. senator warren was referring to a small holding which donald trump has has in a housing project in brooklyn, new york. he owns a piece of that. so senator warren was employing that -- implying that mr. trump would benefit financially from huffed programs administered by ben carson.
a conflict of interest. juan williams, i'm not particularly interested in this alleged conflict of interest. what stood out to me was the elite elizabeth warren who had not been truthful about her ethnicity and who owns a couple of very nice houses in massachusetts, going after a man who is a genuine minority, month brought himself you have by his intoo --by his bootstraps and ks firsthand way it's like to be in housing trouble. >> you want someone in a powerful position as secretary of hud to be on guard on potential conflict of interest with government dollars. stuart: i don't disagree with that. elizabeth warren got a job as a harvard law professor by being
unteutful about -- untruthful about her ethnicity. what's the optics. >> you do that every friday with me. a black man who brought himself you have by the boot straps. i come out here and argue with a white man who brought himself you have by the bootstraps. so i think elizabeth warren -- i know trump likes to mock her, but the voters of massachusetts have put her in a powerful position and she occupies a perch on the left. she is viewed as a potential presidential candidate. stuart: if she wants to be the president of the united states, i don't think that was a good platform to run it from. >> i disagree with you.
stuart: how does she get over the pocahontas charge? >> the senator from nevada who is from nevada said carson didn't know what it meant to have the housing under water. i will say that with regard to carson, i understand your he leadist argument -- stuart: my elitist argument? i'm going after the elites. >> you are going after the elites. stuart: dr. carson wants to get people off government assistance. watch this. >> what is the best possible thing we can do for somebody who is on government assistance. >> get them off of it. >> get them a job? >> absolutely.
stuart: are you going to argue with that? >> no. i think when carson plays on morals, god-given talent and ability and path of a surgeon. at some point people have to say let's talk about house. have you ever managed a bureaucracy. he comes up short in many of these areas. >> he knows all about being at the bottom of the housing pile. what is the expression liberals use these days, housing challenged or something like that. >> think about your logic. if we walked out the door and the first homeless guy, let's put him in charge of homeless, dealing with homeless in new york city, you are saying he said he grew up in public housing. here is somebody who did grow up in public housing, and i would
like to know the man in charge of hud is not only a god-fearing, moral man, but someone who knows how to make housing work and care for people in this country. stuart: it's friday, shake hands. >> you can't be the referee and my opponent. stuart: yes, i can. i will see you on "the five." the f.b.i. in absolute disarray. hillary's emails have much in the headlines again. now the f.b.i. and the justice department will be investigated over that issue. ohio republican house oversight committee member jordan, we think about you as the point man on this issue. is a criminal investigation back in the card or still running? >> we are doing an investigation
of the investigation. and that is entirely appropriate. we talked on your show before. when have you seen the subject of the investigation's husband get to meet with the attorney general three days before the subject of the investigation is interviewed by the f.b.i. we see them get immunity. cheryl mills, clinton's top staffer for 0-some years. once they get the contents of the laptop, they destroy the lap open. we have never -- destroy the laptop. so we have never seen anything like this investigation. stuart: i'm not so sure it will play out in fave of the left when all of this comes to the surface all over again. >> i don't know either.
i think director comey messed this thing up clear back in july when he did his big press conference, then when he released the documents. i think he set this entire thing up all the way through. horowitz is a good man, the inspector general. i think his record is stellar. i think he will look at it and do what he said he was going to do. find out why they did the things they did. this was not run like any other investigation. not the treatment you or i would get. it will change when jeff sessions is the new attorney general. stuart: that election isn't over yet. congressman jim jordan. i know you are a busy man. we appreciate you taking time out of a busy day. the rally has fade. some video from spain.
the vietnamese circus performers climbing 90 steps while balancing his brother on his head. they broke the previous guinness book. world records. youtube cars were democrat, now they support mr. trump. expect more of this. >> he's the on one with a vision for the american people. especially black people. here we are sitting with a black president. what did he do? absolutely nothing. i talked to my doctor and found a missing piece in my asthma treatment with breo. once-daily breo prevents asthma symptoms. breo is for adults with asthma not well controlled on a long-term asthma control medicine,
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ashley: president-elect's cabinet picks are being grilled on the hill. general mattis was asked about use of force yesterday. >> as a feminist i'm embarrassed the women were asking questions about gays and lesbians and climate change instead of readiness. i like general mattis' response. he said i don't care who people go to bed with.
have gone straight up since the elections. it's a 52-week low for macy's. it dropped below $30 a share. the department stores have had a hard time recently. youtube superstars are former democrats who turned into trump supporters. look who is here. linette hardaway and silk. ladies, welcome back it's great to see you. are you going to finish each other's sentences like you did last time? >> who knows. stuart: do you think president obama failed the black community in america? >> absolutely. >> when we look at what's happening in chicago with the crime. when with we look at how he tried to push trade deals that
would severely affect african-americans. he has failed. his legacy has been a failure. he went to chicago to give a speech and was a day late and a dollar short. i can't be politically correct when i'm telling the truth. stuart: why do you think a president trump will be better. >> because he said he will be better. he's putting it on the platform that we are going to rebuild these urban and inner cities and this crime is going to stop. he said he's going to do it and we believe he will do it. >> his track record speaks for itself. he has done more in the last 8 weeks than obama has done in 8 years. stuart: forgive me for asking, you have become very famous, have you made a lot of money? >> none of your business.
stuart: believe me, i would never cross you. there will be a lot of protesters at inauguration next friday. they will try to disrupt the inauguration. what do you say to them? >> if you are going to come to be disruptive, stay home. you should have been protesting when obama was pushing all of this agenda he had no business pushing. if you are mad about it sit back and let the new president coming in office work for you because at the end of the day you can protest all day long, he's your president and he is going to be respected. stuart: are you going to the inauguration. >> absolutely we'll be there. stuart: will you be at one of the inauguration balls? >> yes, we'll be at the inaugural ball. stuart: will you perform. will you perform? >> i don't know.
we plan to be there because we support the 45th president of the united states, donald j. trump. not only is he our president, but he's our friend and we'll always have his back. stuart: where is home base to you? >> north carolina. stuart: you don't have a north carolina accent. what do you think of my accent? >> i know your accent don't sound like it's from the united states, but we still love you, varney. stuart: did you know i became a citizen of this great country last year. >> wow! see, that's how our system works. if you are going to be here in america and love america, at least be legal. >> immigrant is not a race. illegal immigrant is a crime. stuart: i think americans like it when people come to america
and say i like america, i want to join the club. i want to be a citizen. you have no idea how much positive stuff has come back to me because i joined the club. >> we welcome you with open arms. >> thank you for doing it the right way and following our rules and regulations. because you have did it the right way, you can benefit and be part of the american dream. stuart: you wouldn't tell me if you are making a lot of money, but i hope you are making a lot of money because we love you. diamond and silk. thanks, ladies, good stuff. really cool. brilliant entertainers. life and energy coming right out at you. then we have this. a liberal group says boycott l.l. bean because linda bean,
granddaughter of the founder supports donald trump. we'll bring you your reaction to our coverage of taco bell's new chicken shell taco. where to get in... where to get out. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be.
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can help you too. call one reverse mortgage now and ask for your free information kit. stuart: we have katie hopkins on the program. she has something to say about viewers who are offended by the bbc's "real housewives of isis" parody. >> i think they were people ease live oh tented anyway. stuart: no, no, no, don't say that about our viewers. katie is saying some of our viewers are regans who knit socks. that didn't go down very well. from cat, i am a sock knitter.
then about the isis parody itself. cindy says, just a comment on the isis housewives video. my daughter is 21 and a muslim convert it was girls from her mosque who showed her the video, they found it funny. no one has ever died from being offended. then there was this on a totally different subject from laura. wow, you are bugging me today. leave taco bell alone. don't be a snob. she is referring to this news from taco bell. something new from them. a taco with a shell made of fried chicken. i love that stuff. liz: i think you would like it
stuart: one week from today, the inauguration. donald trump becomes the 45th president. the left is doing everything it can to spoil the inauguration. they have every right to protest, but this is an attempt to disrupt the presidency. 3/4 million people are expected to make their anti-trump feeling known. they will be loud, they will use civil disobedience. they will disrupt or at least try to.
and you note media will cover the protests at least as much as they will cover the swearing in. the truth is the left lost the election but cannot stomach the winner. they will do their best to make america look bad to the rest of the world. surely america will see through this. america doesn't much care for michael moore, al sharpton or an aists. i don't think americans approve of distrupting an event that's central 0 our democracy. in the next election 10 senate democrats will be up for reelection. six of them from states strum won. the left will do well to remember, in politics, appearance is very important. the third hour of "varney and company" is about to begin.
that was my take at the top of the hour. liz, what's this about a women's march after the inauguration. liz: an estimate quarter million people, 200,000 women said they are interested in attending the march the day after the inauguration to make a stand against the rhetoric of the election cycle wch has demonized and threatened many women. that's the day after. there have been 30 profest groups expected to protest the day of and the day after. but the women's march is a mossive outpouring. it started as a simple facebook page. but then it grew into a gigantic march taking place the day after. stuart: they have got to come up
with the actual numbers. liz: 188,000 said they will go and hotel rooms are selling out. stu were a top labor guy meeting with trump. at noon, lockheed's ceo will be back at trump tower for another visit. we'll be watching for comings and goings. lockheed at session highs. i have breaking news from trump on russia. ashley: according to trump's national security advisor, the russian ambassador has discussed with mr. flynn logistics of setting up a call between donald trump and vladimir putin after
trump takes office. stuart: after january 20. i want to get back to your money. we are up 20 points on the dow industrials. how about oil, no impact on stocks. $52 a barrel. big banks reported profits. jpmorgan and bank of america doing very, very well and all bank stocks are off to the races since the election. carol roth is with us. welcome back. what kind of indicator for the economy on these bank stocks telling us? they have done so well since the election. >> i think this is a good thing for the economy, stuart. obviously we had a situation over the past several years due to regulations, due to the stifling of interest rates,
where the banks weren't doing well. we want banks to be out there lending to consumers and businesses. and if you look at what's happening and everything coming together both with interest rates starting to rise and now with trump being president and hopefully being more reasonable with the types of regulations put on banks, i think that's a good thing, not just for the financial sector and the stocks, but for main street and small business and overall for the economy. stuart: this is a positive for the economy. i want to talk to you about all the executives coming in and out of trump tower. we had alphabet's and at&t. more executives going in there today. do you as a market watcher, an economist, someone who follows politics and money like we do, do you approve of this? i have never seen anything like
this before. >> i think it's tremendous. so many of us always wanted somebody who was a business pers to be in e presidency because they understand how important business is to the econy. and creating an environment where businesses of all sizes can't succeed is something that is good for everybody in the country. i don't know why governments have gone the their head wrapped around that. another positive thing about that is you are seeing executives from all side of the political spectrum. people who supported not just trump, but hillary clinton. what's nice about that is we are seeing business people are getting down to business. they are putting politics aside and prioritizing the business and that's a win-win for everybody. >> i did not expect to see several goldman sachs people joining the trump administration. i wasn't expecting that. >> there are a lot of
tremendously talented smart people who have spent some time at goldman sachs. if you look at the spectrum of people who have joined. it's not just people currently at goldman sachs. but people with goldman sachs on their resume who have gone on to other things. why would that be a surprise? stuart: there was a good deal of anti-goldman sachs feeling leading up to the elect. the justice department announcing the findings of the investigation into the chicago police department. >> they wanted to see whether the department has been engage in constitutional violations from loretta lynch saying the chicago police department engages in excessive force. she made that statement. they don't engage in excessive force.
stuart: but we have had 700 -- 762 murder in chicago last year, and the justice find undue force used by the police. ashley: this was triggered by the release of a video showing a teenager shot by a police officer. now 13 mons later the conclusion is that chicago police used excessive force. liz: the f.b.i. just released new crime stats finding violent crime across the board rose dramatically in chicago. stuart: carol, leftist anti-trump groups are calling to boycott l.l. bean because a relative of the founder donated money to the trump group. i want you to address in general terms what -- this is donald trump. thank you, l.l. bean, linda bean
for your great support. what do you make of boycotting a company for political reasons. >> while i'm in favor of people voting with their wallets, the challenge is we have a group of people who claim to be inclusive and tolerant until you have a difference of opinion. diversity of opinion is one of the things that makes this country great. if you love a company and they are providing great products and great service and you have one person on your board who has a difference of opinion means you won't do business with them. if that were the standard, we would have no fooply dinners. stuart: i think sean penn is a brilliant actor and director and i watch his movies. but i think his politics are awful. you have got to divorce that
talent from their politics. that's what you have got to do. >> you have to grow up. you have to become a growing person, accept other people's opinions even if you don't agree with them. stuart: linda bean, granddaughter of the founder l.l. bean. that lady on your screen is next on this program. stay there, please. i'm connecting our brains so we can share our amazing trading knowledge. why don't you just go to thinkorswim's chat rooms, where you can share strategies with thousands of other traders? mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade. you may sometimes suffer from a dry mouth. that's why there's biotene. and biotene also comes in a handy spray. so you can moisturize your mouth anytime, anywhere. biotene, for people who suffer from dry mouth symptoms.
product. >> it was not a company donation. it was a personal donation. the company itself stays neutral. we have a policy of not donating to candidate or endorsing candidates. this was personal. it's all about trump, i think. it's the people who want to go after our jobs. they say it's because trump made some remarks about women they didn't like. i think it's a smoke screen. because the effect of a boycott is to kill jobs. boycotts and bullies kill jobs. stuart: where is the opposition coming from? >> it's an outfit called grab your wallet. it's in southern california. stuart: is it a large group? >> i doubt it.
they have gone after several companies. stuart: would you do it again? >> absolutely. every one of these setbacks gives you an opportunity to say how great america is, how great it is to be free to vote for your own candidate and set the record straight. i'm trying to do that. stuart: why do you support donald trump? >> he's creating jobs. it's just opposite of what these folks are doing, they are trying to kill jobs. stuart: do you like this style, some say he's outrageous. >> he's bold. he's a scott. i'm a scott. his mother is a scott. we have a dna in that scottish area that is going to win. he's a brave heart and he has his own way of doing it and it obviously has caught the attention of a great many people in the united states. stuart: there are not many
people in the upper echelons of business that are trump supporters. that's an elite group and the elite largely are for the left. >> it's a paradox. because look what happened on the stock market. they say one thing and putting their money in another place. stuart: i want to know if they are going to give back the money they made on the stock market because they don't like donald trump. most people in the executive suite i'm told are for the left and you are an exception to the rule. >> thank you. i have always been maybe a little bit of a rebel. but i have been conservative. my late husband was a farmer in maine and he got me completely straightened out. at one time i chased jimmy carter down fifth avenue and came back with a huge poster.
i said i'm carrying a goldwater 64 bumper sticker on my volkswagen. i group when there was no income thanks or social security. he says now i can't give my family land without going through 19 planning boards. stuart: are you going to the inauguration. >> unfortunately i can't, but one of my sons is going. thank you. stuart: linda, thank you very much for being with us. all right. retail ice age is quite a segue. j.c. penney is closing more stores. >> it looks like it will be a tough year for the retailers. jc penney closing stores.
amazon is basically the issue. amazon sales are multiples of what the department stores have been. it was going to cut -- stores. thank you. you fixed that. so -- ashley: it's being overridden by online selling. liz: correct. stuart: look at fiat chrysler, the epa accusing the company of emissions violations. that stock was down 10% yesterday. chrysler really taking it on the chin. now this. hud nominee ben carson said during this confirmation hearing that he wants to get people off government assistance. we'll play you the clip. we think he sounds an awful lot like reagan. >> government is not the
has had trouble with its airbags. ashley: there are reports that three executives have been indicted. stuart: but there is a dollar value known. that's why the stock is up 23%. you know how much it costs. so now you can invest on the basis -- channeling ronald reagan. ben carson urges an end on reliance on government handouts. listen to this. >> what is the best possible thing we can do for someone on government assistance. >> get them off of it. >> get them a job? >> absolutely. stuart: now listen to ronald reagan and what he said about government. >> in this present crisis, government is not the solution to our problem, government is
the problem. stuart: i have heard that so many times. is that kind of ben carson being reaganesque? liz: what ben carson is doing, he's echoing fdr. government dependence is narcotic. jfk said the best form of welfare is a job. that's what ben carson is saying. stuart: then you have the elitist senator elizabeth warren who is wealthy and cheated on her own ethnicity going after ben carson. i found that extraordinary. ashley: do you really? stuart: yes, i do. ashley: the bottom line is welfare is there as a helping hand, not a way of life. liz: the government has a role to help. ben carson is not saying anything new.
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stuart: is a news alert, ashley: an international investigation in 2014-15, a list of individuals connected with that does include president bashar al-assad of syria, is this the first time they put the names to these reported chemical attacks and president obama put down that infamous red line if chemical weapons were used. stuart: it is directly linked to aside. the trump administration with
help from republicans repeal obamacare right out of the gate. my next guest says that is a mistake, tax reform, i agree with the next guest. the author of the book the great equalizer is with us, welcome to the program, welcome back. >> great to be here. stuart: i flat out agree with you. if you want to get america moving, liberate the dynamism of american capitalism you cut taxes first. are you with me on this? >> it is much easier to gain leverage on capitol hill. the administration didn't expect to win and since then they have been on the defensive, mismanage the expectations on the economy. the market said this is a repeat of the reagan agenda. it looks like the reagan agenda which meant a strong dollar and
rising interest rates. stuart: markets got ahead of themselves. >> the administration said let's cheerlead this and that was a mistake. stuart: this is what i am hearing, first we get rid of obamacare, repeal it, replace it, it won't be a quick fashion which means for mammoth task of tax reform is delayed probably into the summer, august, the timing here. >> it could be august before they have the vote because they go on vacation but obamacare will quickly be repealed, they can make some other reforms and squeeze them on but there are limits to what you can do on senate rules. the full replacement of obamacare, on legislative, requiring 60 votes and it is
going to be like most efforts to pass laws in congress, ugly. a lot of negotiations, the fear, the danger for this administration is when they turn around and want to pass the tax part of it, two or three republicans in senate say i won't go along with it and you can't get that through. i think it is unfortunate for the administration they didn't expect to win and haven't looked at the question of expectations and momentum. stuart: it is disappointing for myself and viewers to delay until august or whenever. >> i will mention one thing. the reason they are going to delay is they need a lower baseline for the budget and that is the argument. the lower baseline if they went
with tax reform, that is the technical reason but it is a problem. stuart: on banks, very good profit numbers, jpmorgan and bank of america, the bank stocks have gone up since the election. do you think that is a pointer for the economy? >> it is a statement on the banks, janet yellen said there would be interest rate hikes, that is good for the banks and the whole question of dodd-frank being reformed, so much uncertainty with dodd-frank and the volcker rule to end the uncertainty, banks will take off and that is what bank stocks are reflecting. there are a lot of dangers for the banks, a complicated rubiks cube. of the dollar takes up their $20 trillion around the world, there is a real possibility janet
yellen will not do as many interest rate hikes as suggested because frankly it is not going to be donald trump who says don't hike rates, it will be fellow central bankers led by the ecb president mario draghi, if you raise rates you could go down. stuart: we thought it would be plain sailing, cut taxes, the economy takes off, everybody is happy, not that simple. thanks for joining us, don't be such a stranger. >> my book came out the great equalizer. stuart: we won't forget your book. we will see you again soon. the head of donald trump's inaugural committee says a border tax could raise one$.2 trillion over ten years. that is a lot of money. ashley: 20% in the united states, that is a lot of money
but other tax expert say dropping corporate tax rate from 30% to 20% will cost $1.8 trillion. it is all about numbers. stuart: if you have that revenue stream over ten years, that helps with the money the treasury loses when you initially cut tax rates. ashley: consumers pay more for goods, but more consumption taxes opposed to personal income taxes. stuart: i want to talk about the minimum wage because clearly the minimum wage has gone up and a lot of cities around america, i want to know what impact that has had. zane tankl was quoted in a new york times article, higher minimum wage may have loses, we brought zane back again to
explain what is going on because you own and operate is at 43 applebee's, a mere 38 and some of them are in new york city which is subject to a much higher minimum wage. what have you done? you have run restaurant in the face of this minimum wage, what of you done? >> we start 17500 people skinnier than we start 16. stuart: you dropped 500 people. >> 15% of our total labor force. stuart: is that because of minimum wage? >> 100%. obama had a little bit of it but 100% of minimum wage, you cannot continually raise your price of labor and have no rate increases from your consumer and consumers hitting the ceiling right now on dining outside dining, fast food, casual dining, we can't raise prices anymore so where does that come from? we look at our lots of areas to
cut. it is not republicans and democrats, sorry. it is americans. it is economics. pure and simple, i too like donald trump went to the wooden school and that is page 1 economics one. the more you charge for something the less the need, the less demand for that something. i had never seen a rolls-royce advertisement on television. stuart: you through meet with that one. >> they don't advertise because they don't have the mass-market appeal, the more we charge or get charged for labor by the government, the government is raising it, the less we find alternative means. stuart: people who have been given this very significant wage increase have not improved their performance at all. they have done nothing to earn the extra money. i got to ask you what did you
replace these 500 people with? >> the government price increases, wage increase our technology's best friend, there are always alternatives, tablets on the table so you can order from a tablet instead of from a server, you can order drinks and what have you from the tablet, bigger choice from a tablet. when i did that times interview it was the first time i really understood progressives, totally fraudulent, they are frauds, every one of them. i call obama a fried and bill diblasio a fraud, they are because they have to know better, they have to no different, when they raise minimum wage it is a great populist thing the x number of people go out of work and that is not a fair trade-off. stuart: would you like the idea of the business guy running the country? >> i like it a lot. you have to have an understanding of economics, these people who are running the country today, not republican
and not democrat, i voted for obama the first time around. i like to think i am an american first and foremost, these people are ideologues and i would say something extreme, communism in the book looks pretty good if you read about it. everybody is the same but it doesn't work. stuart: don't hold back. you are so passionate. >> i am passionate about people. i am passionate about america and the reality is the person who loses is our least skilled person who wants and needs the job more than anybody. stuart: thanks for coming on and being so honest. >> i will try to be more candid next time. stuart: don't ever hold back. immigrants, we are told, are flocking to chicago ahead of the inauguration and a new trump
presidency. ashley: ahead of the new trump presidency they are concerned, very anxious that things are going to change, getting across the border rushing to so-called sanctuary cities chicago being a prime one, la is another one, the governors have vowed in the face of federal opposition donald trump says no more sanctuary cities but the anxiousness across the border of people from mexico and central and south american countries want to get here before donald trump becomes president because they are concerned about the wall and other immigration policy. stuart: every now and again we touch individual smaller stocks, look at grub hub, that stock surging, more -- morgan stanley boosted its rating, 4%. the painting that still hangs on capitol hill on the wall depicting cops as pigs has been taken down, put back up again numerous times but look at that, just above it.
nicole: nicole pedallides, dow up 21 points within 50 points to pull back down but still gaining. and and and jpmorgan, and and american express, leaders on the dow, nasdaq all-time high on case for the record close of this year, on that trajectory, and apple, just looked at apple, apple, original contact, more "varney and company".
stuart: president obama, i am going to give you my opinion for what it is worth which i think the left is deliberately trying to undermine and delegitimize the incoming trump presidency. that is my opinion from what i see in the news every day. weekly standard executive editor fred barnes is with me. i see it as organized,
deliberate and i don't think it is going to be successful. what say you? >> i agree with you on all three count, i don't think it will be successful either but it is planned and deliberate and well-financed, we see full-page ads, protests that will be here next week when donald trump is sworn in, we see things happening, leaks from the intelligence agencies, and investigation by the justice department, the obama justice department of jim comey and what he did when the fbi was looking into the emails of hillary clinton. what they do that if hillary clinton had won the election? i don't think so. they are doing it because donald trump won and you said the left, this is most of the democratic party. hasn't tried to stop any of these things, didn't try to stop the recounts, weren't going
anywhere, didn't say wait a minute, by having people who are supposed to vote for trump not vote -- it is unprecedented. stuart: there are ten senate democrats the faith they reelection challenge, some of them from states donald trump won. doesn't seem to be a good idea spoil the inauguration and undermine the trump presidency. when you face reelection in a couple years time it is a bad strategy for the senate democrats. >> i think it is a bad strategy too but what you mentioned, five of them are states where trump won overwhelmingly like north dakota, west virginia, what republicans need to do is start talking to these senators about obamacare which will be a key vote and some want to join with
republicans. stuart: you have a piece called incurable obamacare, democrats are addicted to it, you suggest mister trump to go to the democrats, talk obamacare, and get him on the side. >> a winning strategy for mister trump. >> the opposite of what democrats did when they passed obamacare, they didn't have any republicans vote for it. the bill was concocted and put together in harry reid's office secretly, there were no republicans in the room. if you want to have some bipartisan support. stuart: that is lockheed martin's ceo visiting for the second time, lockheed martin's ceo in the elevator there.
mister trump is browbeating business consistently and winning on several occasions with several corporations. >> won't have to continue doing this a lot longer, if you were ceo of a company moving a plant and jobs to mexico or anywhere else outside the united states, clearly trump would do it if necessary. stuart: pleasure to have you with us. we will see you real soon. president obama changing a decades long integration policy for cuban refugees. ashley: it has been in effect 20 years, the policy of cuban migrants reach the shores of the united states, a part to legal residency. that has all been done away
with, basically the obama administration says that we are treating cuban migrants the way we treat migrants from other countries. stuart: right before another major policy announcement. ashley: it rewards dictators in cuba and ignore human rights abuses. stuart: it will keep them in their. ashley: it flies in the face. stuart: check facebook, one of the big name stocks that is moving today, raymond james, investment company raised its rating on the stock and it is up 129 on facebook close to an all-time high. for the first time in american history lady liberty will be displayed as a woman of color on us currency, the $100 gold coin was created to mark the mint's 255th anniversary this year, the mint said the other side of the coin will have an eagle in flight and will be raised
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>> the host of foxbusiness at hit series strange inheritance is back with all new episodes for season 3 which premieres january 20th at 10:00 eastern time. you have been all over the world yet you expanded your territory for series iii. >> we went globally in season 3. i missed you because you marvel at these things we find out there. it has been an incredible year. i have been to 37 different cities and even crossed the pond. i thought of you when i was there. we found a never before seen and unknown ring of jane austen from the five times removed -- it has been in the family all these years.
it may have been an engagement ring. and we found something of a blink and's that has been in the family for many years, you name it, we found it, from beads to gorillas, paintings to a priceless penny. did you know there was an aluminum penny. this family had it all these years. it is a real adventure, i'm so privileged. i am all about these families, meeting these people, hearing their legacy and preserving a great story about an item that a family inherits from someone that loves them enough to leave it and starting again friday, january 20th at 10:00 pm with new brand-new episodes, 28 total. unbelievable year. stuart: i wish i had your research department because you have the most extraordinary stuff from all over the place. i like your ratings.
congratulations. >> one thing before i go, thanks to the viewers, 11 of our 28 episodes our viewer submissions, they wrote me at email@example.com, have their own half-hour coming up. >> maybe viewers can suggest good stories for me. >> you are doing great. stuart: good luck next friday night at 10:00 eastern. more varney after this.
stuart: we went on the air three hours ago, i was -- mr. donald trump there he is. >> he is smiling. stuart: top labor boss of the united states of america, just emerged from a meetings with mr. donald trump. he was trump tower earlier today. >> afl-cio. stuart: getting a wide range of opinion -- >> love the fact his nominees for cabinet positions don't always agree with him. that is perfect. stuart: i am inhe talks to the
left an hires the right and business people. most conservative cabinet in decades. >> fascinatings to watch ininfold. stuart: fascinating to be with you good people last three hours. my time is up. neil cavuto ready and willing to take it away. neil. neil: thank you, my friend. we're following developments at trump to you are but washington, d.c. that was a close one in the senate 51-4to start the process of unraveling obamacare. -- 48. number of advantages republicans have in that body dissipate when you consider there are a number of republican congressman who are up for cabinet positions or being considered for them in administration roles. so you could maybe remove anywhere from three to five of them in this count. bottom line, in a body which they have 24-194