tv Varney Company FOX Business April 24, 2017 9:00am-12:01pm EDT
is out of control, but i think we were talking with the cia director we get complacent until we get hit and this may bring it to the forefront. >> thank you. >> next time, brian, you get it and cheryl as well. and now it's mr. varney, "varney & company," go. stuart: i'll take it, dagen, give me a shock there. the macron will win in france and there are reasons your money is doing well. the dow will open with a big gain, 200 points, probably. this monday morning, as you can the trump rally appears to be back on track. >> macron 23%, le pen 21%. the contest is may 7th.
the polls suggests that macron win and europe avoids financial chaos. it's worth remembering that the polls and the market watchers were wrong with brexit, wrong with donald trump, but no question the election in france paf paved the way for this morning's very big stock market rally. another reason, president trump's pledge to real a massive tax cut this week. he's challenging the republican party, get it done. in a moment you'll see politics and money come together with that big rally and you're going to like it. "varney & company" is about to begin. ♪ well, there you have it, the riotest, left wing rioters
after the first round of the elections were made no, windows smashed, pepper spray, et cetera, et cetera. because the right wing and centrist candidates won yesterday's preliminary vote and go to the final on may 7th. the left doesn't like it. traditionally they riot, that's what they did. the numbers, centrist emmanuel macron won 23% with candidate marine le pen not that far behind 21%. just as important, a poll conducted right after the election results were known as macron beating le pen handily in the second round, 63% to 37%. again we are going to point out the polls were wrong about brexit, wrong about trump, but that's a big lead that macron has. green arrows across the board here, dow is up 200. s&p up 25. the nasdaq maybe a 60-point gain there.
look at big name technology stocks and we follow them very, very closely because they go straight up and they will go straight up again this morning at opening bell. open up your 401(k), you're going to like it, there's a big rally coming. i'm staying on the markets and economics with tenured economics professor peter morici with us now. is it is that simple, the market believes that europe dodged a bullet and financial chaos and the market is up, is that what's happening? >> the financial markets like stability and like the euro and like macron. le pen has a lot of ground to make up. and there's a lot of ground to make up. two weeks is a short time to close that distance. stuart: we call him a centrist, macron, but he's a former investment banker, i think, and i think he's calling for cuts in business taxes.
so the man is-- i will call him center right, i guess is something to cheer about in a french election. >> center right in europe is tough to be, and i think that's where you put him. you have to remember that, you know, france, like so many other places is terribly high taxes and interventionist government and to even talking about cutting taxes is really a positive thing for the french economy. they need less government and need more people. stuart: okay. let's talk about what president trump said late shall-- late, late last week, we're going to get tax reform. roll tape. >> we'll have an announcement with regard to tax reform, the process began long ago, but wednesday. thank you very much, everybody. stuart: all right, peter. i think that that is a message to the republican party, hey, get it done. what say you?
>> that is a message to the republican party. but trump has to be honest. for every 100 billion dollars he cuts taxes he's going to get some growth, maybe an additional 60 billion dollars in gdp, 100 billion dollars, he's not going to get enough additional growth to make up the whole tax cut. he has to admit that this will increase the deficits if he is indeed really cutting taxes. if it's not revenue neutral. if it's revenue neutral, it's going to be tough to make it pro business. stuart: what about the idea, maybe this is my idea, that the president focuses on a narrow tax cut for corporations, and a cut in the tax rate paid by corporations bringing money back from overseas, and the tax revenue going to infrastructure? it sounds complicated, but those the most simple and i think the most doable of all the tax plans. again, what say you, peter? >> it's a very doable plan and i think we could do a lot inside of that by simplifying
the corporate tax system to get the top rate down. to do that he needs either border tax adjustments or to accept a bigger deficit. that's one thing. the second thing, he's got to do something for the limited liability corporations because so many taxes are paid through there. he has to lower their top rate. all of that creates a bullseye for democrats, and it's difficult to get democratic vote. it expires after ten years, if he doesn't get a majority 60 votes in the senate. if he doesn't get reconciliation, it would be bush tax cuts and i would hate to see him do something that sunsets. if we talk about corporate taxes one thing i agree with with gary cohn, it has to be permanent to have an effect and impact. stuart: i've got 20 seconds left. handicap it for me. do you think we get any kind of tax cut this year? >> better than even chance for some kind of tax cut. stuart: got it. i think the market will like
that. peter morici, thank you very much, we'll see you soon. >> take care. stuart: and there when president trump made that announcement and congress woman is with me right now. >> it's nice to be on. stuart: you know what he is coming. i think that president trump said clearly to the republican party, like yourself, get it done. did you get that sense? >> i did. and i am just a huge fan of getting it done, as a small business owner and someone who serves on the financial services committee. we need to have tax reform. obviously, we had a miss with health care which we'll revisit later, but we've got to get tax reform done. one thing that could probably save and help our small business communities, especially in where i live in upstate new york. stuart: as ainsidein the republican party, that's what you are. you're a republican congress woman.
>> you were inside the white house. >> i clawed my way to get here. >> as an insider, you tell me, is the republican party ready to unite and govern? >> let's hope so. stuart: is it? >> you want me to talk for the freedom caucus and the tuesday group and the-- >> i want you to talk to the republican party. >> myself as a business owner and solid conservative from new york, we must get together and do tax reform. i haven't heard anyone against it, as you mentioned in reference to your prior segment, there are people concerned about the border adjustment. i'm manufacturer, it's relying on currency exchange rates and that happening, but i think that we need to get whatever we can get done through the house and go through the process in the senate. the senate is the issue. and from the house, i think we could get it resolved. stuart: could we get a focused deal through, you cut the
corporate tax rate, you cut the rate of tax people bringing money back to america and spend the tax revenue on infrastructure? >> i think that's very doable in the house and the question is getting it through the senate. i think that tax cuts are something that's proven to work. and ill 'll say it's up to the democrats to get it done in the senate. stuart: if you just got it done in the house, that would be a win. >> you know, republicans need to have a long game. we need to have incremental change. we need to have policies that we can pass, you know, one-on-o one-on-one. they're so worried about hitting a home run. i'm looking at hitting a few short-term balls right now. stuart: the analogy works any way you slice it. i understand that the president was trying to get on your good side, you in particular. he called your son, who is a marine before the meeting, is that correct? >> yes, we will, actually i was hoping to get just an autograph from him and senator purdue said to the president, hey,
congresswoman tenney's son is in the marine corps and deploying to the middle east, could she have an autograph? he said sure and he wrote a note on my stationary. and he turned to me, can i call him? >> and i texted and i said, would you take a call from potus? and it was a beautiful moment where you could see the president was very warm, he shows his care for our troops. my son was thrilled. >> okay. >> oh, come on. stuart: he was buttering you up. >> i'm not sure about that. i came from-- my district is a trump district. i think that he has demonstrated, the president, his care for our troops and importance of our military and i think this just showed a warmth in him and i think the conversation was really sweet and my son was very excited about it and he's-- it was a great moment. i think you're trying-- you're being cynical, stuart. stuart: moi?
>> as we talk about the french elections and you speak french to me now. stuart: about 20 seconds left. you handicap it for me. what are the chances of a tax cut of some sort this year? >> absolutely, it's going to happen. stuart: okay. >> you're going to hold me to that. stuart: april the 24th, just after 9:00 eastern time a.m. >> yeah, i think we will have a tax cut this year. i'd like to see a personal income tax cut because so many small businesses like mine use the personal tax. stuart: thank you. check the futures, we'll keep an eye on this. why not? up almost 200 points at the opening bell. now this, nancy pelosi calls the border wall immoral, says it's a sign of president trump's weakness, saying president obama didn't need a wall.
and ann coulter, ready to sue the school if the speech is canceled. judge napolitano. don't miss fox's lineup. tucker carlson 8 p.m. eastern, "the five" 9 p.m. eastern. more varney after this. whoa, this thing is crazy. i just had to push one button to join. it's like i'm in the office with you, even though i'm here. it's almost like the virtual reality of business communications. no, it's reality. intuitive one touch video conferencing is a reality. and now it's included at no additional cost with vonage business. call now and see why 3,000 companies a month are switching to vonage. business grade. people friendly. arbreak through your allergies. try new flonase sensimist instead of allergy pills. it more complete allergy relief ia gentle mist
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>> some individual stocks are making news and making big gains this morning. that's hasbro, helped by demand of video games. remember, of course, they also make transformers and nerf toys doing well. the stocks are up. and a drilling activity in north america that helps halliburton's bottom line, $47 a share right there. over the weekend more sabre rattling from north korea. what do they say they're going to do? >> they're ramping up the rhetoric, they say they're
ready to sink a u.s. aircraft carrier with one strike. and they do missile testing korea is on high alert. stuart: the price of gold is $17. that implies that they're not taking the north korean threat that seriously, realistic. berkeley students, some threaten to sue the university if ann coulter isn't allowed to speak on thursday, the day she was supposed to speak and the day she wants speak. get this, too, anti-israel activist will speak at city university of new york on graduation day. all rise, judge napolitano is here. >> i'm shaking my head. stuart: what a contradiction. >> we shouldn't be surprised
that academia will not further their ideals, supposed ideals, left wing propaganda rather than figure of speech. and kuny, city of new york, and berkeley owned by the state of california so they're regulated by the constitution, but the supreme court has said, as inexplicable as this sounds, government has the freedom of speech. government, even though this end of government is controlled by left wing academia, can decide how it wants to spend its money and what speakers it wants to put on. i don't believe the students have a cause of action because berkeley can decide who to put on. ann coulter has a cause of action because she had a contractual relationship. it's contractual with government, regulated by the first amendment which has a duty and obligation to protect her right to speak and the
right of the students to hear her. stuart: university at berkeley, they want ann coulter to speak on may 2nd, not on this thursday when ann coulter was due to speak. they said, okay, you can speak on may 2nd. if she fronts up on may 2nd, they've got a choice, they can support free speech and protect her or they can go against free speech and arrest her. >> how could they arrest her? >> they could arrest her on thursday and she turns up and that's not the day she's supposed to speak. >> shean'te arrested to show up to speak on public property nor for the conflagration of the words, and the heckler decides to make noise in combination, they're effectively the right of the veto to speak. and the supreme court ruled you can't blame the speaker
of what the hecklers do. we have a very difficult problem on our hands by a fundamental misunderstanding of freedom of speech on the part of the government. when the government engages a speaker, the government has a duty to protect that speaker's right to speak and the listeners' rights to hear what they have to say. stuart: do you know that bernie sanders has come out and said that ann coulter should be allowed to speak and point of view. >> bernie is good on civil liberties and excellent on the freedom of speech and suffered at the hands of hecklers who tried to silence him. the purpose of the first amendment, to allow and protect the intercourse of ideas no matter how harshly they may much express. intercourse of ideas leads to truth, illumination and people to help think for themselves. stuart: these truths are sel
>> why don't we take another look at futures? because we're going to go straight up at the opening bell. that's something good on a monday morning. why? why is the market going up so much? because the centrist in the french election, emmanuel macron, looks to be the eventual winner, avoiding financial chaos in europe. keith fitz joins us, keith fitz-gerald. the polls were wrong on brexit and donald trump here. do you think they could be wrong on the electn inrance as well? well, that's always the
question here, what i find interesting here. and macron is a centrist and that's not a term you hear often. what the markets tell they didn't get the extreme left-right and that's good for your money. stuart: i'm sorry, liz is coming into this for a second. liz: hi, keith. stuart: good morning, elizabeth. liz: good morning. stuart: you've got numbers from macron, he wants to spend a ton of money, he doesn't want austerity. liz: he wants a fund, he wants to push back on the imf, which is trying to restrict spending and help to bail out entire countries, like greece and sec force in the eu. stuart: and that's why this market is up, keith. >> bingo, because, you know, if you take away the punch bowl before the party is started you'll have a bad party. what he says, hey, we didn't have enough punch, let's go all the way to the races on this. that's bad, as we know for
capitalism, but good for the markets right now. stuart: it is. and watch the fabulous five go as well. and keith, stay with us, we'll be covering the opening of the market in just a moment and that market will go straight up. 190 up for the dow, 23 the s&p, that, ladies and gentlemen, is a rally. hope you can stick around and watch it unfold. i use what's already inside me to reach my goals. so i liked when my doctor told me that i may reach my blood sugar and a1c goals
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>> now, this is one of those days when we really look forward to the opening bell op wall street. why? because we're going straight up. the futures indexes were looking towards a gain of 190, maybe 200 points and now we are off and running and right from the get-go you're up 184 points. yeah, 197, 200 points up. that is a rally. i would expect you're going to see 28, 29 of the dow 30 going green. it looks like we're going to be all green in the early going at least, up 215, 214 points, over 1%, an extraordinarily solid rally on a monday morning. this is about the french election. we'll get into that in just a moment. do take a look at the price of cold. it's down significantly, $18 down this morning. apparently the market is not worried about north korea's
sabre rattling all over again. no impact on gold, in fact, it's down 18 bucks. there's lots of green arrows for the big name technology stocks, we always focus on them because they're the ones moving so much. look at them go. facebook is at nearly 145. that, i believe, is a new high. it's a new high for the nasdaq composite overall, the technology index overall. new high there. amazon's up $9 at 9.08. look at microsoft go, 67.47. i think that's an intraday high. google is up, 867 and apple higher at 143 and change. it's an upside market on a monday morning. liz macdonald is here and so, too, scott shellady and keith fitz-gerald. scott, i think this is a reaction to the french election. it looks like macron, the centrist, will win and the markets are happy. what say you?
>> it's a little bit of a relief rally, yes. i have to kind of dampen down the expectations and excitement. we had some ppi's and cpi's that missed. chicago fed that missed and we have our problems at home. it's a temporary for the relief market and i tell you right now, marine le pen is not going away even if she does lose in two weeks' time. yes, the markets are happy, but i think it's short-lived. stuart: keith, what do you say? and scott says it's short-lived. what say you? >> i think that scott is right. you've got to talk whether you're a trader or investor. from a path of least resistance is higher i think it's going to burn off in a day or two and rebalance. stuart: throughout the program you're going to see stocks quoted on the screen. when you get an upside market, people want to know what's happening with this stock, with that stock, we'll be showing you.
you'll see an awful lot of stocks throughout the program, especially what we call the fabulous five. so much money has gone into those companies like microsoft. ♪ >> the trumpets for me, i've got a little piece of microsoft. it's up. watch facebook, watch amazon, watch google, all the rest of them go. an extraordinary day, a rally and a half, up 207. i think there's another reason why the market is up, that is that president trump, who late last week said, watch out, i've got a big tax reform announcement, tax cut announcement coming on wednesday. i think that helps the market. keith fitz, what are you expecting from this announcement? >> i tell you what, the personal portion of me wants to expect g things from this. i would ve to see r tax rate come in line and love to see money come home and corporations have incentive to
do that, however, i'm also c callus enough that the risk of no action. liz: don't you love it how congress went on recess for the spring and coming back tomorrow. we're facing a government shutdown. and if we're facing a government shutdown, what did you go on recess for. do they have the impetus for tax reform or even tax cuts. stuart: more on the screen, an upside move. it's fun to look at your stocks and see if they're making money for you. grown arrows across the big tech names, facebook 144. amazon up another 8 bucks now, microsoft 67. alphabet, apple, all of them on the upside. they've made enormous gains since the election. microsoft and facebook on your screen, both of them all-time highs. keith, same old same old question.
are they too expensive for new investor to get into the five big stocks now? >> oh, i don't think so. they're the fabulous five for a reason here, stuart. if you've got the right perspective. this is something that most people don't think about. it's hard to go wrong with many of the companies, it's easy to go wrong with fly by nights. if you're an investor and you're looking at the world technology, that's an unstoppable trend with millions behind it. >> what do you say, scott shellady? any of the big five, all of them too expensive for a new investor to get into? >> well, if you've got a granny that died and leaves you $5 million, i wouldn't take all of it today and put it into all of those stocks. i would piece it in over time because that's going to give you a better price average and you're not going to have as much risk and those are much better and the place to be rather than the snaps ofhe world. ultimately at e end of the day they'll ouace and lead the economy forward. i don't think they're going to lead, but they're going to
shape the economy so i like being in those stocks. >> look at the stocks on the left-hand side of the screen, all stocks within the dow 30, all are dow stocks and they're spread across the board. mcdonald' mcdonald's, home depot, united, different companies, not high-tech, all of them at all time record highs as of right now. and get back to apple for a second. iphone cornership is reportedly at an all-time high within the united states and the stock is an all-time high as well. let me go back to keith-- i'm sorry, i want more details on iphone ownership, liz. liz: old iphone ownership. there's 70 million old iphones out there, iphone 5's or 60 6's calling it the biggest potential boost to iphone 8's so that could put a floor under the iphone sales. stuart: did i see an analyst
suggest they would sell 250 million iphones, 2018? >> yes, depends on the pricing. they have to price it so the market can buy a quarter billion. stuart: are they back in innovation business, apple? [laughter] >> boy, you know, i think they're back in the financing business because the average american has a hard time writing the $500 check. somebody's going to finance it, 250 million phones you can't shake a stick at that, it's amazing. stuart: by the way, apple and microsoft combined have $300 billion in cash, scott shellady does that take your breath away? >> yes, it does. and for the naysayers, it took a good lesson in life, the trickle down effect works. here we go. stuart: trickle down efft works, that's an expression to conjure with.
and the board, up 190 points. look at the level, please. 20,700. individual stocks making news, a surge in drilling activity north america, that helped halliburton, but the stock is down 6 cents at $46 a share. how about hasbro, helped by demand for video games, they also make transformers, nerf toys, that stock doing well, 6% up for hasbro. there's a medical supply merger, and beckham dickenson buying cr bard. we knew about this in advance going through. tesla, gm, some competition. general motors plans to launch ten electric cars in china by 2020. liz. liz: oh, yeah, and here is the story. the hidden crisis in china is a serious health problems throughout the population. so, china is saying to foreign brands, come in, we do want electric vehicles on the road.
and one out of eight cars they want to be electric by 2020. so, gm is moving fast in there to build electric car plants, have the chevy volt built there. ford, nissan, volkswagen moving in there, too. so china basically has the most ambitious electric car goals in the world right now. stuart: and general motors stock is always around there, 34, $33 a share, always right there. you're laughing scott, i can hear you all the way from london. >> yeah, i am. look, it's funny, and gm's now starting to play with the big boys and wants to start punching at tesla, a little sarcasm there, due to their stock prices, not that interesting to me gm getting in the space and what took them so long. stuart: tesla market value is on par with that of general motors. some are questioning tesla's total valuation, around $50 billion when it's rarely made a profit. ith, do you have anything to say on that? >> well, people questioned
amazon and it's never rarely made a profit, too. the question is what is tesla going to be. if it's an electric car company, yes, it's overvalued. or if it's an electric company, i believe is what that thing is, then it's just getting started. stuart: scott, what do you say about tesla? >> i like the play on words with keith, it's just getting started. and i agree it's not a car company, it's an energy company. without the government there we've got to wait and see how it plays out. and they don't have any competition and have gotten a lot of back handers. >> congress must pass a bill this week to keep the government open. and president trump will reportedly insist on border wall financing within that bill. that could be a problem for the markets. keith, a problem for the markets. what say you? >> you know, government shutdowns are always a problem for the market because nobody knows what's going to happen next?
it's the uncertainty factor, it's not the money that bothers people. they need to take a page out of j.p. morgan's book. the notion that congress is going on recess and holiday, they've got more problems than everybody can imagine. millions of americans need nem to do their job, so get something passed. stuart: if i'm an investor right now, i've got a choice, do i put my money into bonds, commodities, into real estate, do i put it into stocks? at the moment those who say put it into stocks are winning the argument. do you think that continues for the forseeable future, scott shellady? >> yeah, i'm a little nervous about that, stuart, because i still think we're running on fumehere, and as paul said to goldman sachs, take a look they're terrifying to gdp. we're falling short in our economy here. i'm a little leary to buy at
the highs. if you taught at 1929 you're doing well, but it's not an investor's market, go slowly and piece it in and don't take granny's money and do it all at once. stuart: don't take all of granny's money, got that right. america's retailers, closing stores faster than ever. 2800 already this year and we're only into late april. according to one analyst, that's double the closure rate of last year. we talk about the retail ice age every day, it's real. liz: they're talking 8600 store closings this year, more than what happened in the financial collapse in 2008. the country, retail is overbuilt, too many stores, there's basically a store bubble. they over-store, overbuilt and the profit margins for moving onto the internet, it's really tough for the retailers making that strategy because you have to pay for shipping costs and go up against amazon. it's tough to restructure. we've seen wal-mart take out the little pop, mom and pop
shops, now it's amazon taking out the big players. stuart: that's right, the first wave of the big box stores, wal-mart and the rest they took out main street america and towns. now it's amazon online taking out big bocks, left, right and center. america moves so fast. p can't keep pace. another might marin counter between a passenger and an airline. this time it's american airlines. keith, no real effect on the stock when things like this happen. in fact, american airlines is up this morning. >> that is incomprehensible to me, but you know what? people need to get where they need to go. american airlines, delta airlines, united airlines of the world, they they've locked this down. they've got landing slots and terminal slots and passengers have to get where they're doing. and that's why behavior like this continues to accelerate.
stuart: on that note we'll leave it. thank you, scott, and you, keith, thank you for being with us on a great monday morning. why is it great? the dow jones industrial average is up over 200 points, 20,700. the all-time high 21100. we're not that far from an all-time high. big names hitting all-time highs, united health, 3m, microsoft, home depot, that's a rally. breaking news now, the supreme court refusing to review the gm ignition switch case. the significance, liz. liz: gm appealed it, a ruling, a lower court ruling that let accident lawsuits proceed against it. and so, they asked the supreme court to look at it. the supreme court won't look at it. so, that means that billions of dollars in settlements could be coming for these accident lawsuits, it's not affecting the stock now.
stuart: no, it's not, $34 a share. liz: and they have the victims' fund, too. stuart: here is a story, panera is it going to hire 10,000 drivers as it expands its delivery service. liz, you're working overtime. liz: yeah. i'm happy to. you know, they're taking on the, you know, the delivery food market and essentially you get your food from chinese restaurants. we want that market. they want to make four out of ten of their stores being able to, by the end of the year, to deliver panera food to customers, they're saying, look at the numbers, a quarter million in sales could come to each individual storement so, a quarter million they could make from food delivery. that's panera, panera, usually the sales 3.5, 3.6 million and left that. stuart: that's a life style capitalist story. they could raise revenues to individual stores, each store
by $250,000 a year if they deliver that food to customers. liz: that's the estimate. stuart: 10,000 drivers. i like that story, thanks, liz. nancy pelosi, strong words for president trump. it was yesterday. we'll roll the tape. do it. >> the president, i think, talking about this wall is expressing a sign of weakness. he's saying, i can't control our borders, i have to build a wall. we certainly would like to-- we have a responsibility to control our borders. building a wall is not an answer, not here or anyplace. stuart: well, there you have it. i know, look who is here, and david webb is itching to say something about this. i won't hold him back, say it. >> boy, i have to pause for a moment, remember that e-mack, a lady is here and i have to be nice and i'm also on the varney show. so, nancy pelosi doesn't know what she's talking about. what else is new? there's an act, the secure border fence acts of 2006 that
includes these provisions. i'm a numbers guy and this is a business show. if it doeses $14 billion a year all of the us taxpayers to take care of illegals and a fence costs $20 billion, $30 billion, $40 billion. which is a better deal? 114 billion? the border security, fence wall, and return them the moment they get caught back cross. these are part of security. nancy pelosi is simply a party hack. stuart: i think that the democrats want to hang onto the hispanic vote and opposing the wall is a way to do it. >> on behalf of many hispanics i know, they're offended. not all hispanics are for open borders. not all hispanics are for illegal immigration? i lived in texas. it's mixed. you have blended families. i spent a lot of time in florida, it's mixed. this idea that if you're black
you belong to the democrats are 0 if you're hispanics you belong to the democrat or if you're women you belong to the democrat is offensive and should be offensive to americans. stuart: i'm sorry i offended you with the statement. >> you never offend, mr. varney. stuart: bernie sanders over the weekend, i'm going to say he took a shot the democrats. watch this. >> what is clear to anyone who looks at where the democratic party today is, that the model of the democratic party is failing. clearly the democratic party has got to change and in my view, what it has got to become is a grass roots party, a party which makes decisions from the bottom on up, a party more dependent on small donations than large donations. stuart: he's not opposing identity politics, not saying i oppose that. he's saying i oppose capitalist policies, that's where i think he's coming from. >> he's also proposing from the bottom up, grass roots. we see how well it worked in in
venezuela, in greece. the pigs, portugal, ireland, greece, and bernie sanders will never be president, thank god and never affect politics large live. just a movement of ill-inched and i repeat that ill-informed people who don't understand how the world works from an economic standpoint. stuart: the french election over the weekend, and all attention on marine le pen, i'm looking at the results and say the left absolutely lost hands down. the socialist party candidate got 6% of the vote, that's it. >> it tells you something about people's reality, stu, when they really take a look at what's going on in their country and see that the socialist policies are bankrupting them, their families and bankrupting companies where they need jobs. france is fundamentally changing and not for the better. the eu needs to go, it's
alrey its way and this election tells you a lot about eu and about sovereignty and what people want for their countries. stuart: stay there, don't hold back, i've got more for you in a moment. look at the market scan, will you? this is a sense of the overall market and clearly it's going up. only one loser on the dow 30 and that is verizon. democratic congressman tells a sixth grader at a town hall that president trump is more dangerous than a terrorist. we'll tell you exactly what the congressman said after this. ♪
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doesn't think we're going to get that much growth for the economy in the immediate future. now this, during a question and answer session at a town hall, california democrat congressman mark desolly reportedly told a 11-year-old girl that president trump is more dangerous than a terrorist. david webb is with us. as i understand it, this young lady asked a question and he responded by saying how ent tru i think they don't like the man personally. >> not only that, but she actually asked him a valid question. this 11-year-old girl asked about fear and why they feel the way they do. it personal. this congressman and all the other democrats, the pelosis out there, the extreme left, they hate donald trump for his exist temenc existence. they've lost and if east of
california, and then if you go west, it's la la land and it's a derangement of sorts, and it's about trump. stuart: i think the influence will be less and less. >> it becomes white noise. stuart: you can see through it and see what's going on. >> yes. stuart: thank you, david, much obliged on a monday morning. check that big board. up 200, 204, to be precise at 20,751. president trump lays down a challenge, get a tax cut done this week, show it this week. close out the first 100 days in office with a win. my take on that coming up at the top of the hour.
message to the gop. the message was, get this done. his first 100 days are almost up and congress has done very little to advance the trump growth program. tax cuts are the centerpiece of that program. without them, his presidency loses its drive. he badly wants and badly needs a win. he knows the democrats will oppose almost anything he proposes. he must have a united republican party. he must have their full support. you can blame paul ryan, you can blame the freedom caucus. so far the gop has failed to act as a governing party. it is the president's growth program that has taken the hit. he knows this can not continue. that is why mr. trump surprised everyone with that dramatic statement. a massive tax cut that you will see wednesday. yes, he is a negotiator, and now he has gone public. he is openly saying, we are going to cut tax this is year. he is speaking directly to the republican party. you have got to get this done. failure on obamacare, you have
to get this done. this could be a huge week in politics and money if the gop meets the president's challenge. the second hour of "varney & company" is about to begin. ♪ ♪ stuart: interrupted the beatles, heavin forbid. we're bringing you the big board. it has gone up a few more points in last couple seconds here. now we're up 216 points. get this, several big names hitting all-time highs. the dow stocks, we have united health, we have 3m, microsoft, mcdonald's, home depot, those are dow stocks they have never been higher where they are now. green arrows for the fabulous five. those are the big tech names we watch all the time.
facebook, amazon, alphabet, microsoft, apple. now we're up 222 points. >> let's get back to politics and my editorial at the top of the hour. president trump pushing hard for a win for tax reform with big tax cuts. he is announcing a big one day after tomorrow. tony sayegh, public affairs for the u.s. treasury. welcome to the program. >> great to see you, stuart. stuart: do you see it my way? i say president trump is laying down the law to the republican party, you got to get this done. what say you. >> i'm bullish on president's leadership tax reform. he won largely because of his economic agenda. in the recent fox poll nearly three in four americans say they just don't want tax reform they want it this year. 70% of the independent voters want tax reform this year. the mandate is to do it. president will lay out broad
priority of principles that we believe must be in tax reform. stuart: telling the republican party, you get behind this, or you get behind something, you get it to me. >> i'm happy to report that secretary mnuchin meets weekly with leadership on capitol hill including rm brady from ways and means. he has meetings on tax reform every day. the president and he discuss it regularly. we have 100 people at treasury working on tax policy. we're ready for this moment. the other important piece, stuart -- stuart: what do you expect on wednesday? just broad outlines? >> you will see importance of a comprehensive tax reform, a plan that includes rate cuts, middle income tax cut, small business tax cuts that make our companies much more competitive in the global landscape where we are very uncompetitive at the moment because of our tax policy and code simplification. stuart: what about a border tax? is that going to be in there on wednesday? >> all of that is being discussed. stuart: you don't know. >> those are parts of on going discussions and negotiations with capitol hill.
these are the broad principles and priorities of the administration. the emphasis, stuart, you mentioned several times in the program this morning growth. sustained economic growth we have not had since the financial crisis. you see the negative impact on real americans, their wages, our economy as a result. stuart: we heard it all before. we heard it many, many times before, you have to cut taxes to get some growth. the president is saying you will see the plan on wednesday. he is going out on a limb. if he doesn't get the republican party to agree on tax cuts, he is in trouble. his whole program, his presidency is in trouble. he is out on a limb here. >> i think our economy is in trouble if we don't follow pro-growth policy the president, secretary have all been discussing. people are ready for this. stuart: work with me, tony, this week is crunch time. if the republican party doesn't come together on this proposal from the president on wednesday it is sunk. >> i'm telling you, stuart, there is more than meets the eye. i think there is a very strong
combined effort between the hill and the administration to make sure we put forward, the best, most comprehensive tax plan that generates economic growth and job creation. i think we're very aligned on a lot of priorities here. that is why you see the president in the way we've been accustomed him doing, taking bold action and leadership, pushing the envelope forward. i'm very pleased. stuart: when you go back to washington, gather up your republican friends, tell them get together, unite, everything is on the line. >> i think they're watching now. stuart: i hope so. tony saying,. >> thanks so much, stuart. stuart: i want to get to the election result in france, that is what is really moving the market this morning. centrist candidate, the gentleman on the left, eman macron, and marine le pen ha advanced. they have a election in may. the election was a huge loss for the left.
tammy bruce, you're with us. socialist party got 6% of the vote. communist got nyet%. >> that was rejection really of the establishment because france has gone between the conservative party and socialists for decades now. so that's been the switchoff. that is considered the establishment. both conservative politician lost because of some scandal. rejection of the far. mr. macron is the left. he wants more integration with the e.u. wants more involvement strengthening the euro. more of globalist dynamic. very clear difference of course with miss le pen, this is about french culture, our identity. that is very specific difference for the voter. stuart: the left is rioting on the left side of your screen. >> that will not help macron. this is what the french -- very much like what happened here.
they say that, well there is polls and he will be doing well in the final election. the fact of the matter you will have shy and silent supporters of le pen like you did for mr. trump. when you have a actual sea change, almost revolutionary dynamic, people speak about it less. this is not done. she has very good chance in may. stuart: you think so? >> i do. stuart: there was a poll after results, gives macron a 20-point lead over le pen. >> hillary had a 80 point lead for donald trump. she was ordering fireworks. maybe mr. macron is ordering fireworks. they should be cautious, if the movement in europe as a whole, what we've seen here they should take nothing for granted. not just america has change ad american people want future back in their hands, i think french and europeans do as well. stuart: may the 7th is a referendum on europe.
marine le pen says we're done, european union, fin emanuel macron says keep it, work it. >> they have had 10% unemployment for four years. their gdp is a disaster this is result of linkage, le pen argues with europe. do we want more of the same which what macron represents or do we want actually change. when people privately place the vote i think they will want change. stuart: market thinks macron will win. you're not so sure. "brexit" was wrong. donald trump's election was wrong. maybe they to the it totally wrong. but market thinks macron wins. 222 points on the upside. don't you love isn't. >> i love it. stuart: so do i. now this, controversy surrounding a new original series on netflix. it is titled. "13 reasons why." what is the controversy? liz: it is about teen suicide.
each of the 13 epidewhy a lead character, young teenage girl people feel hurt her. she is blaming people in each of those episodes for a specific reason why she eventually commits suicide. mentality health experts are saying netflix, you're being irresponsible. teenagers are binge watching this, watch out parents. it glorifies and romanticizes, he romanticizes suicide. it basically is an extended revenge fan at that he sy. she is mad at each episode at somebody. she kills herself. there is no explanation how she internalizes what happens to her. basically it's, very little on what her thought processes are. all about what people did to her, right. not how she internalizes it. stuart: i take that as negative. liz: bad for netflix. very bad. stuart: the stock is up. there is divorce what we may think of culturally and politically wrong, but financially no problem whatsoever. there is is the divorce between
the two. listen to this. new report iphone ownership has hit an all-time high in the united states. that means more iphone owners are in the market, maybe for an upgrade. that is clearly good news for apple. the stock is, i think at or very close to all-time record high after this morning. you have any numbers? liz: when you look at numbers, you earlier had an analyst saying apple could sell 250 million iphones. they sold 230 in 2015. 70 million people have really old iphones, 5 or 6, they could upgrade with a new phone. stuart: what will they do with 220 billion in cash apple is sitting on? what will they do with that? >> liz: acquisition, who snows. they are not bringing it home anytime soon. stuart: yep. coming up, one-way ticket to mars.
nasa unveiling details about its plan to send astronauts to mars. we'll bring it all to you in just a moment. lefty media at it again. msnbc's rachel maddow this time suggesting the president is to blame for the chaos in venezuela. yes we do have the story. new line up starting tonight on the fox news channel. "tucker carlson tonight" at 8:00 p.m. followed by "the five" at 9:00 p.m. that is new on fnc. do not miss that. good stuff. ♪ but when family members forget, trust angie's list to help. [ barks ] visit angieslist.com today.
you see what is happening with our country in terms of jobs, in terms of business and there is such excitement and such enthusiasm. many americans entrepreneurs are racing into space. i have many friends are so excited about space they want to get involved in space from the standpoint of entrepreneurship and business. tell us about the opportunities that could exist for the next generation of scientists and engineers? is that something that you think a student, you have so many students, hundreds of thousands watching, is that something that you think that students should be focusing or thinking about other subjects? what do you think are the opportunities for young students wanting to be involved in space? >> sir, absolutely. i think that this is probably the most exciting timein space exploration, certainly in my lifetime. we are about to just to, just, have an explosion of activity.
there is so much involvement on the space station with commercial industries and commercial partners. we have an entire program to manage the science. nasa has done a wonderful job ceding a new industry with the commercial crew program and the commercial cargo program, so we can build infrastructure we need for future exploration. one thing i love about american american on thes, once you get them boeing, you better stand out of their way, they're going to start chucking. we're about to that point. nasa is taking on that expensive, hard, complex task of going further and deeper into space with wonderful new rocket space launch system and orion. then as soon as that's, as soon as we break open that door, this incredible infrastructure that we've been building is going to be right there to pick up the
baton and continue into the stars. i would say to all the students there -- stuart: i want to take you back to a little bit earlier in this conversation between the president and the astronauts there. i want to take you back to where the president congratulateses one of the astronauts on being the longest american in space. watch this. >> want to he say that this is is a very special day in the glorious history of american spaceflight. today, commander whitson, you have broken the record for the most total time spent in space by an american astronaut, 534 days and counting. that is an incredible record to break, and on behalf of our nation and frankly on behalf of the world, i'd like to congratulate you, that is really something. and i'd like to know, how does it feel to have broken such a big and important record? >> well, it is actually a huge
honor to break a record like this but it is an honor for me basically to be representing all the folks at nasa who make this spaceflight possible, who make me setting this record. stuart: that is quite a record i have to say, 534 days in space. longest for an american ever. i can't imagine spending, that is year-and-a-half in space. liz: yeah. stuart: weightless to boot. listen to this one for a second. let me break a way. tar i.q. malik of space.com, managing editor there. i understand nasa plans to send senates to mars, not necessarily to land on it, but to get there and come back, that accurate? >> exactly. nasa has the plan for mars. peggy whitton, we saw her, records may be shattered if nasa can make this work. they have a plan to build a deep space gateway, a station around
like around the moon, they put a deep space transport, this is 41-t tube astronauts will live in, four senates. if that works, they willend astronauts out to mars, orbit, take a couple years. swing by venus. it will be a long, long flight for the astronauts. stuart: but they're planning to do just that? >> exactly. a lot of things have to go right to do that. stuart: commander whitson's 534 days in space is trial run for much, much long are trip than nasa has planned. when does this start? >> the big kickoff will be nasa's new rocket, space launch system, big meg can rocket, saturn v rocket. stuart: it is big. >> giant. the goal to test that with the new spacecraft, orion, next year 2018, if that goes well, launch a probe to jupiter to make sure the rocket works.
and a gateway will be built with mode always and habitat, in 2023-25 time frame. if that works, launch the transport in 2027 do a trial run around the moon in 2029. if everything goes right, a lot of things have to do right, they try to send astronauts to mars in 2033 time frame. stuart: 2033, doing the math, that is 16 years away we could have americans going around mars? >> not landing. stuart: coming back. >> that is the plan, yes. stuart: thank you very much indeed. that is fascinating. >> a lot of things have to go right but hopefully one day. stuart: 2033, looking forward to it. thanks, tariq. stock market is doing extremely well. that is the high of the day, up 224 points, 20,700 where we are this monday morning. president obama is back in the public eye.
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stuart: look at hasbro. it is boeing up nicely 5%, doing well with its video games. for years it trailed mattel in overall value. hasbro passed mattel in quarterly revenue. first time since 2000. hasbro up big today. the i-shares france fund, that is an etf, that is a basket of stocks from france, nice gain today, 5% higher. best pop since 2012. the french election is is the reason. check bank stocks, they're popping. a lot of different sectors on the market are moving nicely higher.
banks in particular, look at that, 3, 4% gains on biggest names on the investment banking scene. look at them go. big gains amongst financials. now this, president obama holds his public event since leaving the white house. he is speaking a the university of chicago later today. he is speaking about community organizing. tammy bruce with us. i hear a lot of criticism what the president did and did not do to help the democrats. >> keith ellison, appointed by thomas perez. he said he could have done more to help the party. it could affect his legacy because of trouble they're having. democrats looking at fact they don't have a party anymore. marie happen. harf said on "fox & friends" that was stupid thing to say. barack obama approval ratings are so high. that is part of the problem. his approval ratings are high but the democratic party isn't.
barack obama, really in a way destroyed the party for his own benefit. this now is the dynamic of, appreciating and emgreatsing barack obama is not going to help other candidates at this point. he is going to be having a speech. it will be good for him but not for the party. liz: not your parents democrat party anymore. he is just coming off a trip, he was on david geffen's yacht with bruce springsteen and writing his third memoir. i don't know anybody wrote one autobiography. he is writing three of them. approval ratings, depends who they are polling. he basically destroyed the democratic party. stuart: that is strong stuff. we better go out with that. this is a terrible story. afghanistan's defense minister resigned following the taliban attack that left well over 100 soldiers dead. it was the deadliest attack on the armed forces there since 2001. we have the ugly details for you after this break.
stuart: this is the high of the day, up 225 points. 20,000 20,773. the market likes the election. they think macron is going to win and avoid financial chaos in europe. we'll see. treasury at 2.29%. that implies not that much growth. rachel maddow under fire for a lower third graphic, the banners you see on the screen. the banner blamed president trump for violent antisocialist protests in venezuela. that banner read unrest in venezuela due to trump donations.
maddow tweeted out an apology. here is "mediabuzz" host, howard kurtz. is msnbc a good news operation according to howard kurtz. >> you know everything bad happens in the world is donald trump's fault according to this mindset. stuart: of course. >> there are riots in venezuela. policies of the socialist government are not working there. are food shortages, medicine shortage, people are starving. the fact there was this half million dollar donation from a subsidiary of a venezuelan oil company to the trump organization probably didn't sit well. but to tie that to riots and protests is just flat wrong. look, the banner could have been written by some 22-year-old kid. i'm glad maddow apologized for it. i'm glad msnbc admitted they ma stuart: the problem editorial is seeping into what is more and more characterized as news. it is bleeding over anactually
taking control of wh is news. i think that is probably true across a broad spectrum of the media. you would agree with that? >> i would agree with that. maddow is an opinion show. if she wants to make the case donald trump is linked to riots in venezuela. she can do that but she didn't do that. the chiron banner clearly implied it. i do think disdain for president trump among many people who are supposed to be straight journalists is seeping into many things that are presented to us as straight news reporting. stuart: did you see our banner, we had right there, nasdaq hits all-time high with rachel maddow's face? we're fact based, howard. i got to tell you. how about this one. president trump hold as rally in pens sane this saturday. it marks the 100th day in office. it is the same day as the white house correspondents dinner in d.c. the which president trump will not be attending. how is that going down with
media people? >> the technical term is a finger in the eye. donald trump is not only a counter puncher but a counterprogrammer. not only decided to blow off the correspondents dinner i suspected he might do something else. his staff is not going. television will have a dilemma. do you cover the dinner with no president, who always provided the star power here. or do you cover the president in harrisburg, pennsylvania? i think the president will get more attention than the dinner. and maybe that is a good thing. because the dinner is a such a celebrity-ladened affair people are kind of tired of it. stuart: seems like open warfare between president trump and much of the media. do you see any sign that that might stop or just tail off, or smooth over at some point in the into near future? >> i had thought early in the president's term that would happen, stuart. so far i don't see many signs of that happening. he is give an interviewwith cbs
to mark the 100 days, a counternarrative he hasn't gotten much done, the president calling standard ridiculous. it is open warfare on both sides. unless there is some sign of a truce, i think this is could go on for quite a while. so painful to people here he is not coming to the dinner! i will be at the dinner. stuart: every week you and i talk, monday mornings. every week i say the same thing. i have never seen anything like this before. i'm going to say it again because we haven't seen anything like this before. >> so true. stuart: okay. howard, thanks as always for joining us. we do appreciate it. >> good to see you. stuart: okay. big and i mean big tax announcement from president trump expected on wednesday. he broadcast this last week. joining me now is michigan republican congressman bill huizenga. >> huizenga, yes. stuart: now we get it. >> third time is the charm. next time i'm on we'll nail it down. stuart: you're huizenga,
welcome. in my opinion president trump was laying down the law to you in the republican party. get this it done. quit messing around with my growth program. get it done. did you read the message like that? >> i wholeheartedly endorse that and agree with it. the first step making sure we have health care taken care of because that clears up a significant amount of money, a trillion dollars. stuart: has not been done. >> not been done. we're going back tomorrow, rest of this week. we have to deal with the government resolution, continuing resolution for government funding, tackle health care. tax reform has to happen because we know jobs are created primary by small business owners. stuart: you have to unite the republican party. it has to be this week. there are all kinds of issues on the table this week, including that tax cut. if you don't come together this week and show real willing to get on board with the president's program i think republican has a problem? >> i think you're absolutely right. i imagine that our conference meeting tomorrow that is traditionally or wednesday morning, usually the day after
we get back, that will be a can that is rightic, robust discussion, family discussion. t my ssetalkto colleagues over the last couple of weeks, they have gone back home. they have checked in with people of kind of all stripes and have come back saying you know what? we have to set aside some of these other things and adopt what ronald reagan had said which is, if someone agrees with me 80% of the time, they are my friend, not my enemy. stuart: did you have anything to do with this? there is a big rally in bank stocks and financial stocks today, they have gone straight up, 3, 4% up, big-name companies. you have an op-ed of getting rid of dodd-frank. >> yeah. stuart: so are you rallying the bank stocks? >> i didn't say that. stuart varney did. so that -- stuart: if you want to take credit, take credit. >> we had, "detroit news" ran our op ed, i had it in my local paper in western michigan. encorn people to look at it. stuart: i will quote from it. dodd-frank has even made it more
difficult for struggling families across michigan, you're from michigan to secure a future for themselves and for their children. i got to tell you among my production team here on "varney & company," we have three people who have had enormous trouble doing the paperwork for a mortgage which is a result of dodd-frank. you have a lot of supporters on my production team. >> that's a consistent message that we hear all across the country. the, we all know that dodd-frank was an agenda waiting for a crisis. that is why it is doing things like ceo bank pay ratios and conflict minerals and all these other things that had nothing to do with the actual economic downturn. made it more difficult for hard-working taxpayers to have the banking system work for them, not against them. stuart: one more thing that you guys in the republican party have to get done. >> yeah. stuart: you have got to do this. >> we'll do that. we'll have a hearing on wednesday on our choice act, financial choice act, which is the republican response to replacement of dodd-frank.
stuart: here is another one. homeland security secretary john kelly appearing on "face the nation" as you know yesterday. he said, president trump, quote, will be insist extent on including money for the border wall in the new budget plan. there is another thing you got to get done. >> we do and, whether that is in this week's continuing resolution, that will be difficult. i think we'll have to keep making sure that we have the proper function of government happening long term. that is where this fits in. whether it is actual physical barrier the whole way, we have some of that already. i think we can have virtual wall that will do exactly same thing, with proper amount of actual physical wall in there as well. ultimately about enforcing laws that one, are already on the books and two, anything else we might need to do. stuart: pivotal week. big one for you guys. >> thank you. stuart: congressman huizenga, thank for joining us. >> good to be with us. stuart: come back soon. >> you got it.
stuart: now this. big theme on this program, retail ice age proof it is indeed on us. briggs and mortar stores closing at record pace this calendar year. coums mongo online retailers. that means service jobs are disappearing. on your screens, 280 stores closed or announced closed -- 2880. liz: 8600 is the protection. stuart: 8600. liz: more than closed during the financial collapse. they overbuilt and overstored. these stores have a ton of debt put on them by the private equity crowd. that is the backstory. they can't get out from under that debt. it is like a boat anchor. stuart: what happens to commercial rent and spaces in commercial office buildings and shopping malls. liz: there is boom trying to turn them into office buildings, bowling alice, even churches. google purchased a defunct mall and turned it into office space.
stuart: tough situation. lizzie, thank you very much. liz: sure. stuart: north korea says it is ready to sink the a u.s. aircraft carrier to demonstrate its military might. the president is prepared to call the leaders of china and japan. we're all over this story, even as gold goes down by the way. the president meeting with the pope when he heads to italy for the g7 meeting. this after the pope publicly slammed president trump's wall. father jonathan morris joins us on that next hour. ♪ when this bell rings... ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions,
♪ liz: now this. earlier we had on congresswoman claudia 10 any to discuss the possibility of tax reform coming this week. this is what she had to say. roll tape. >> from my perspective as a business owner and someone who is solid republican conservative from new york, we must get together and do tax reform. i haven't heard anyone that's against it. i know as you just mentioned and referencedded a little bit in your prior segment, there are people concerned about the border adjustment tax, whether retailer or manufacturer. i'm a manufacturer. it is relying on elusive
it backed off a few cents. 975.91. we have. amazon, very close to an all-time high. that is extraordinary performance. now this. taliban insurgents dressed in afghan uniforms and military vehicles attacked a base there, killing over 130 afghan soldiers it was the taliban's deadliest attack since 2001. u.s. advisors were told to shelter in place during the attack. general jack keane joins us, fox news military analyst. is that standard, general, to shelter in place during an armed attack? >> i don't know what the reason for that is. they could have certainly helped them out. this is a tactic the taliban use many times. they dress up in afghan uniforms and attack afghans or in the past attack americans when we had much larger presence there.
it's a devastating attack. the death toll is up to 170. it is largest successful attack ever made against the afghan national army since the war started. stuart: it is a huge set back for anyone that wants to keep the taliban out of power, i presume? >> here is the real problem though, stuart. this war is not winnable given current policies. it is an absolute disgrace. we've been there aost 16 years and, t best we can say about it, when the commander was providing testimony a few weeks ago to the congress is that it's stalemated. that is outrageous, that the united states military participating in something for 16 years and the best we have is a stalemate? the reality is, actually the taliban have the momentum because they have taken back considerable amount of territory, about half of what they lost during the invasion. and, and you say why are we at this point? how could it be so bad? because the opportunities to win in afghanistan were squandered
by president obama's policies. he pull the troops out much too quickly. number two, we never ever done anything about the sanctuaries in pakistan that the afghan taliban reside at where they get refreshed, they get assistance by the pakistani military. we've never, no one's ever defeated an insurgency that had a sanctuary outside of the combat zone. stuart: do you think general mattis, the defense secretary, has the heart to cut our losses and withdraw? >> i think, if you're going to do something like that, certainly i believe the administration is looking at it. general mattis, h.r. mcmaster, the entire security team is looking at issue. the mattis was there recently as of today, and also mcmaster was there last week. if you do that, you wring your hands, you're frustrated with it, one of the consequences of that, on the region, what does it mean for regional security? what does it mean for u.s. national security interests?
and i think if you put that under a microscope, that would be largely negative. then you have to say to yourself, okay what is it going to take to turn this around? what kind of options do we have? i suspect they will present all of that to president trump. what would it mean to status quo? what would it an to pull away. what does it take to win in afghanistan? what is said about this gins mcchrystal and petraeus presented obama with a strategy to win with counterinsurgency war and he did not give them the forces they had requested. that doomed us. stuart: we need to talk about north korea. seems they never back off. they're threatening american aircraft carrier and taken a third american hostage for a better word? what is the endgame here? they don't back off. they will do something else. >> what they want to do is continue their ballistic testing program so they can weaponize intercontinental ballistic
missiles worst case and medium range ballistic missiles. he put that on a rapid, accelerated mode we've not seen before and this gives us concern. this rhetoric and belligerence he utters, while we listen to it, it doesn't rattle us. we've got to be steady here. he is not going to attack an aircraft carrier of the united states and here's the reason. because that would mean that the destruction of his regime and the reason he has nuclear weapons is to guarranty that that regime is preserved. he has taken, he has taken a hostage because the hostage business has been lucrative for him throughout the years. where he brings, you know, celebrities, very important people on the world stage to come over and negotiate to get that hostage out of there, and try to achieve bilateral discussions with the united states and get some concessions. that has worked in the past. that is why he is in that business. stuart: okay. general keane, thanks for joining us, sir. see you again soon.
>> good to talk to you, stuart. stuart: thank you, sir. look at this. general motors plans an electric car push in china. what are they doing? liz: looking at possibly half a million electric cars made in china by 2025. so what is going on here? cha has really bad healt problems from its polluon. it is trying to says you know what, we want one in eight cars to be electric by 2020. nissan, gm, volkswagen, and ford making a push to get into the market to build electric cars. china is saying to foreign brands, come on in, we need your help. stuart: they do. the pollution problem is dreadful. thanks, lizzie. liz: sure. stuart: check the big board. why not. monday morning we're off to the races. 220 point gain for the dow industrials. 20,700. something missing from all the coverage in the election in france. i'm you calling it a crushing defeat for the left in yesterday's election. the rout of the french socialist party.
from max. quote, this explains millenial politics. government pays for their stuff, rather than going out and working for it. i think that is a little harsh. we'll get to that in a second. one comment from wolf. there are way too many going for college that should be going to a trade school or getting out to make a living. liz, i think you probably agree with that. liz: i agree with that. as for the first point, i know what the attack has been against millenials. it is often unfair. they have a trillion dollars in student loan debt. tuition gouging going on with middle class families is really bad. it is not "wayne's world" meets "the golden girls" as some people say about slackers. millenials want to work hard. they're struggling undebt of the point about trade schools. it is an excellent one. finland does it. germany has emphasis on trade schools. mr. president made a point about that. weused to emphasize being a
electrician or plumber for trade schools. some have aptitude for that. stuart: esident calling for more vocational schools. i'm all for it. i don't like the idea we're castigating entire generation are lazy. a third of you at home with mom and dad. very different situation for what it was in my day for example. today you have the student debt, you're right, $1.3 trillion worth of debt. that is more than the mortgages. liz: it is so hard. stuart: it is on the neck of our youngsters. liz: tuitions are 65,000, 70,000, selling a credential they don't have aptitude to do skills, jobs that can make them a lot of money. essential work remembers blue-collar workers as one of your guests said. that is important. stuart: my message to max, critical of millenials, come see the youngsters who work for us. will show you a work ethic, max. we will be back.
stuart: here's something missing from the coverage of the french election: the left lost. they didn't just lose, they suffered a crushing defeat. while everyone talks about the rise of marine le pen, just look at the rout of the friend are. socialist party. -- french socialist party. the current president is a socialist, but its candidate got just 6% of the vote. he came in fifth. the socialist party looks to be just about done. and what about the communist candidate? he came in fourth. he picked up the traditional union vote by offering a huge wage increase to government workers. nothing new there. unlike marine le pen, the left picked up no new constituents and lost a chunk of its old territory to boot. now france has a strong leftist tradition, very strong. the state, the government, has always played a huge role. maybe that is the old france. look at francois hollande.
he is the french version of margaret thatcher, for heavens sake. he came in third. and look at emmanuel macron. he's a former investment banker. he won. in europe there has clearly been a political shift. brexit, le pen, they're leading the movement away from traditional politics, but do not ignore what's happening on the left. in britain and france, it is in rapid retreat. its role in politics is vastly diminished. the third hour and "varney & company" is about to begin. ♪ ♪ stuart: what you're looking at is the riots in france immediately after the election results were released. those are leftists rioting as they traditionally do at the end of an election when they didn't win. burned-out cars, pepper spray, you name it, it was all over the place in paris last night. got it.
sent tryst emmanuel macron slipped past populist candidate marine le pen, they'll face off for the second round of voting on may the 7th. christopher caldwell joins us now, weekly standard senior editor. great to see you. >> likewise, stuart. stuart: to you approve of my statement, the left lost big in this election? they are the old france, make way for a new france? >> only in a very qualified way. i think the socialist party is at the heart of what happened yesterday, but i think one of the reasons they fell to such a low number is that they have changed. there's no longer a real industrial economy in france, so there's no longer a trade union movement or a workers' movement. and so the socialist party has, kind of like the democratic party in the united states, become kind of a movement of the upper crust. and macron comes out ofthat. stuart: okay. there was a poll taken right after the results came in last
night, and it showed that macron has a 20-point lead over le pen for the election that's coming up on may the 7th. do you think that holds? do you think he's the clear winner on may 7th? >> if nothing special happens. like, for instance, an event like a terrorist attack or a real extraordinary ability of marine he pen to sort of, like, transform what this election is about. without that, macro to n should win. stuart: people are saying that, essentially, this is the survival of the european union, that it does, in fact, survive when macron wins. what say you? >> well, i think that's right. macron is the candidate of the establishment. you know, a lot had the of the accounts this morning have described him as both a centrist and an outsider. i don't think you can really be both. he's much more of a member of the in group of the, you know,
of the socialist party hierarchy than he is an outsider. and so european union fans are breathing a big sigh of relief. stuart: well, has the populist movement, is to speak, reached a high point? brexit was their success, donald trump, to some degree, was their success, but now france have pushed back against them? what say you? >> well, you know, it's always been hard to see how marine le pen is going to get through this second round. this is the highest score the national front has ever got in a presidential election, but it's still a little bit below where they've been in regional elections. so i think they're still rising in france, but it is a break on the movement internationally. stuart: so you say flat out macron wins. >> barring, barring big events, barring big events, yes. stuart: it's always a good idea to hedge a little when you've got two weeks to go, and anything might happen. that's true. >> the reason i say that is, you
know, we've had some very inaccurate polls first in britain, then in the united states, and hen in the primaries of -- and then in the primaries of this french election. the polls on this general election were quite accurate which seems to indicate that pollsters are beginning to get the hang of polling this populist environment. stuart: thank you for being with us this morning, much obliged. thank you. check out the big board, i'm going to make the case this is the result of the french election, a nice rally for the dow. 1% higher, up 215 points. let's bring in the author of the book, a great book, "american mojo," the former goldmasachs partner, peter kiernan. i right? the market is up because europe senses macron will win, and there'll be no financial chaos? >> vive lafrance, that's what it says. i don't think there's a way that le pen can win. but she is here for the long haul.
and remember, just a month later when they finish the presidential election, they're going to have the elections for the national assembly. le pen has, i think, two deputies out of 570 players, so she is really just beginning to get her sea legs. it's interesting, her father was in the same kind of runoff with chirac and lost. i don't think she has the legs to win this. stuart: i mean, what you're seeing on your screen now, technology stocks, other stocks going straight up. that is a sigh of relief. >> it is definitely a sigh of relief, and people are saying because of the tax announcement that may come on wednesday, i've heard that's going to be broad strokes and lots of tax principles. now, the last time i tried i could not spend broad strokes and -- [laughter] this is related to france. this looks like the e.u. will stay together. frankly, i think it means one more thing. france for the last few years has been sort of the broken player among the majors in the e.u. i think macron may represent a way for france to look forward,
to let go of some of the socialist regulations and some of the drag on their economy. they a basically let their industrial base go can, and they have not grabbed fully enough into the new what i would say software and digital revolution that's taken the rest of the world. this is an opportunity for france, but it also means that the e.u. probably holds and the euro probably holds for now. stuart: late last week president trump laid down the law and said you're going to see on wednesday i'm going to reveal a massive tax cut. those were his words, massive tax cut. i think he was laying down the tohe republican party saying, ok, you to unite, you've got to pass this thing, you've got to do something within the 100 days. >> here's what i think, i agree totally with what you're saying. i think he was saying one more thing, which is i'm willing to live with a smorgasbord. everyone's saying let's change the entire tax system, but they don't have the stamina, the will or the ability. this is a message saying we've got to do something.
stuart: i think he's -- here's what i think will happen: i think it's a narrowly-based focus on cutting the corporate tax rate, the profit repatriation tax rate and spending that income on infrastructure. that's what i think we're going to get at some point. what say you? >> i think that's a good package and the way to think about it. let's not try to do the entire waterfront, let's just develop the pier, around the pier, and i think the marriage of infrastructure development with people trying to decide tax issues is a very nice partnering. in the gives and gets of washington, there's a lot -- if you have a trillion dollars you're trying to give away or create, that is something that may motivate the reluctant. i also think trump is going to be more involved than the speaker in making this happen, and that means if you're recalcitrant, you're going to get a one-on-one with the president, and he's going to say tell me exactly why it is you're blocking my most important initiative. and that will be a very uncomfortable position for some of those individual -- stuart: yes.
i wouldn't want to be on the side of the fence from that one. >> meet them one op on one, i think that's what's going to happen. stuart: the dow is up 221 points, 20,700 is the level. want to bring this up, more saber rattling from north korea. they say they're ready to strike one of our aircraft carriers? >> yeah, the uss carl vinson or any other aircraft carrier with a single missile strike. now within the last hour china's xi jinping just said to president trump, put out a message pleading patience. that don't react, just lower the temperature on this. so, you know, tomorrow is the 85th anniversary of the north korean, you know, anniversary of its military. south korea remains on high alert. wednesday the white house will meet with top senators over north korea. no reaction in the safe haven plays though right now. stuart: i would venture a dollar that if they launched a missile, it was headed out to sea, i think an american destroyer would shoot it down. >> yeah.
stuart: that's just speculation on my part entirely. last word? >> to me, what's interesting is there have been at least two and maybe three conversations between president xi jinping and donald trump. we gentlemen are working together. they were supposed to meet for ten minutes in palm beach in a one-on-one and then meet with their secretaries, but according to kt mcfarland that got expanded to two hours. these men are finding common ground. stuart: nancy pelosi calls the border wall immoral, says it is a sign of president trump's weakness. quote: president obama didn't need a wall to protect us. that's what she said, and we will discuss that. plus, an update on ann coulter's berkeley speech. a group of conservative students says they're ready to sue the school if her thursday speech is canceled. dana lash on that next. but first, please do not miss the fox news channel's brand new prime time lineup. it starts tonight. tucker carlson, 8 p.m. eastern.
stuart: salafi aventis is suing mylan. the issue is the epipen. >> suing them saying you are illegally trying to prevent competition with epipens, and you're sell. ing the competition -- squelching the competition. strt: and the epipen is the center of it. >> that is correct. stuart: thank you, liz. homeland secretary john kelly says mr. trump will be, quote, insis tent on funding the border wall. listen to this. >> i certainly think the border wall is essential, as do almost
everyone that lives along the border. so, yes, i think it's certainly worth hard negotiation over. we have tremendous threats, whether it's drugs, people, potential terrorists coming up from the south, and some type of an effective barrier backed up by the brave and effective men and women of dhs, i believe, is essential. stuart: look who is here, dana loesch. i mispronounced the name earlier, dana loesch is with us right now. >> yes, sir. stuart: you know, we always heard that mexico would pay for the wall, but now it seems we have to pay for the wall. are you a little disappointed? >> stuart, i am, but i want to give the administration a chance and see exactly what's coming down the pike and how they plan to do this. if they're -- because i know that there have been some suggestions, there's been a number of suggestions, in fact, some that i like more than others. the trade situation and the border adjustment tax is not one of which i am a fan particularly, but there are some
other suggestions that i think maybe, possibly, could be workable. and still we are early into this. i am glad that the administration is trying to keep its promise. however, at the same time we were told that we were not going to be the individuals that were going to pay for the wall. if -- and here's the crazy thing too, stuart, because this is one of the things that i know everyone's talking about, whether or not the government's going to shut down at the end of the week, and president trump is really hoping to get some sort of funding for the wall east if they have to pass a stopgap or do an appropriations or continuing resolution. but democrats don't want to give him an inch. and even though they have said, we, we'll continue fding these subsidies for these insurance exchanges if you at least give us some funding for a border wall. i think republicans in this administration. have shown that they're at least willing to work with democrats as much as possible. here's something else to consider. the people gave the government a mandate on november 8th, and i think if democrats want to at
least maintain their numbers in washington, that they adhere to this mandate and stop messing around with the people's. stuart: yes, but you know how it works, dana, anytime the government shuts down, the republicans get the blame. no matter what the provocation. they get the blame. you know that's true. [laughter] >> i know, you're right, that's always true. however, i say it's democrats' fault this time. no, really, i don't think that will happen. i think it's highly unlikely there's going to be a government shutdown. i just hope we get some hard core plans and details about how exactly this wall, the funding is going to be facilitated. stuart: i want an update from you on free speech because berkeley students are threatening to sue berkeley if ann coulter doesn't speak on thursday, that's her allotted time. the students say they will sue. i think that's a great thing. i don't know whether they've got standing in court, but i think it's a very good idea. what say you? >> well, i think they do
actually have some ground. let's think about this. this is a university that receives public funding. therefore, they don't get to make their own rules as a private university would. now, if a university wants to stifle speech and wants to prevent groups from inviting certain speakers to their campus, they need to make sure that they're privately funded, because if everyone is funding this university, if taxpayer dollars are going to this university, they don't get to enjoy that privilege of setting up their own rules. that's the same standard for universities all over the united states. so it would be them, they're the ones who are squelching the free speech of these students. and, i mean, i like to play a lawyeren on television, but i do think these students have a very good legal argument as to how their speech is being trampled, and you could argue quasi-censorship that they're not having their particular speaker on campus. to this point, i want to point out there's another university on the east coast that's hosting the women's march organizer. this is a woman, stuart, who actually speaks in favor of and
defends sharia law. this is a woman, stuart, who is on record for saying bipsychiatry gabriel, that they deserve a beatdown, and she would take their female cop la story organs, so to speak, because they disagree with her on women's rights under sharia. now, i think that's pretty extreme. and i would even argue that goes y further than a lot of the things they're accusing other conservative speakers of saying. stuart: yes, it does. there's free speech for some but not for others. and that's the way it is on american campuses these days. >> exactly. stuart: dana dana loesch, thanks for being here. i find this an interesting story. panera, they're going to hire 10,000 drivers. they want to expand their food-meal delivery service. anything more on that? >> yeah, they're saysaying, essentially, you know, the food delivery service is dominated by things like chinese food. we can step in there. they want to have four out of
ten of every one of their stores do food delivery to homes. so by the end of the year, so they're saying that could add a quarter of a million dollars to -- stuart: really, a quarter million to each one? that's a lot. what's this all about? >> i think this is the new trend. if you're going to be fast casual, you've got to extend into the home. more and more the new technologies are providing the ability of someone to order casual food at home. panera's smart, they're trying to compete as best they can. when you have a restaurant, use that as a base of operations and sell direct to home. stuart: why not? domino's. >> absolutely, it's like like's with a little higher -- like domino's with a little higher quality food. stuart: a plan to launch ten electric cars in china by 2020. take a look at tesla, their market value on par with general motors, but some are questioning
stuart: watch out, tesla, general motors plan to launch ten, count them, ten, electric car models in china by the year 2020. >> well, china has the most ambitious electric-hybrid goals in the world. why? be pollution, health crisis, social unrest. they're trying to stop that. china wants one in eight of all of their cars to be hybrids by 2020 or thereabouts. yeah, 2020. stuart: crash program, forgive the expression. peter, you've not to tell me about tesla, because their market value is now on par with general motors. they've added around $50 billion, but they've hardly ever made a profit. >> it's interesting, because i went back and looked. i looked at who owns general motor and fiat chrysler, and the answer is very different people than own tesla. people are investing in tesla for a different reason. they're not buying it as an automobile company, they're buying it as a high-tech play
and a move to electric cars. however, there is no way that ford, general motors and fiat are going to allow one company to totally dominate electric cars. look for tease three to be -- these three to be big players, particularly outside the united states. stuart: now this for you, president trump will meet the pope next month. originally, the president said he wasn't going the meet him. what changed, and what will they talk about? up next, father jonathan morris. ♪ ♪ online u.s. equity trades... ♪ ...you realize the smartest investing idea, isn't just what you invest in, but who you invest with.
stuart: 11:30 eastern. reset those markets, yes, the rally rolls forward. between arrows especially for those big name technology companies. look at 'em go. we call th the fabulous five. all of them are or very, very close to all-time record highs. facebook, amazon, microsoft, alphabet, apple. look at them go. peter, too expensive? >> people are always asking, is this another bubble? take a look at the details. the market multiple is about 22 times, apple trading at 7 times, and it's got -- 17 times, and it's got $250 billion in cash and no debt.
apple is reasonable and cheap. the loftiest ones, amazon and facebook, are changing everything. and amazon does live on profitless prosperity, but it seems to be going after every business you can imagine. stuart: this is no dot.com bubble? >> i don't think so, on the other hand, these are very, very pricey stocks. i hook to the ones trading below the market multiple, however, and they are cheap. stuart: thank you very much, peter. look at jcpenney, they're joining forces with a beauty products retailer, sephora. >> from well, they have hooked up, right? here is the thing, they're going to have 70 new sephora installations in their stores, they're going to expand 32. this is the hedge fund, bill ackman's move, put sephora in jcpenney to resuscitate your bottom line. they did bring back their former ceo which is kind of like calling in the plumber to fix
what was broken, but this has been one of the bright spots for jcpenney, having beauty products inside their stores. a lot of department stores have that. stuart: and the stocks are $5 a share. >> yeah, that's right. stuart: not much of a comeback, sephora or otherwise. >> yeah, that's right. stuart: there are reports president trump will meet pope francis during the g7 summit. look who's here, father jonathan morris, fox news contributor. >> good morning. stuart: why would they get together? i didn't think the pope wanted to meet our president. >> well, first of all, a few weeks o therwere people on the left -- probably on the right too -- who were saying, wondful, there's no meeting between the pope and donald trump on the agenda, on the calendar. people almost had, glorifying in system sort of failure of the meeting of the minds here. now it seems, although there's nothing confirmed and that's very normal, usually they confirm the week of. there's nothing confirmed, but it seems like it's very possible, i would say probable
that pope francis and donald trump will meet. stuart: okay finish. >> and that's a good thing. even if they don't agree on everything, stuart, or on hardly anything. [laughter] stuart: would you say they are diametrically opposed on almost issues, either moral or political? >> no. you know where i think they could actually work together? and you're going to doubt me here. immigration. why to you say that? stuart: yeah, why to you say that? >> pope francis has said he's against the wall. remember when he was here last year. yet the system right now, we know, is very bad for illegal immigrants, people who have come over here, that we've allowed to come because we've had a porous border, i would say. tacitly allowed. and then we have allowed to work, tacitly, because we're not punishing the employers -- stuart: i know where you're going with this. >> yes, go ahead. stuart: you're going to say that pope francis is going to try to persuade president trump to
treat the dreamers better. >> say what you want about donald trump, i don't think he's an idealogue. a great success by donald trump, in my opinion, would be to fix the system for those who have been here for many years and have not committed crimes. and i think pope francis would be in favor of that. people who have been here for 15, 20, 25 years, who have worked hard, whom we have really benefited from through all their cheap labor, to be to honest, and i think there's a way that they could work together. stuart: you're establishing a very strong ideological sition for a catholic priest, are you not? >> ideological means ideas. there's nothing wrong with ideas. stuart: father, that is fine and dandy. let me move on. >> go ahead. stuart: how about this one? anti-israel activist to be the commencement speaker at the city university of new york. she is an advocate of sharia law.
you could not be the commencement speaker at nyu finish. >> why not? stuart: they wouldn't have you. >> no, they wouldn't. stuart: they wouldn't, would they? >> the problem with this is commencement speeches are always honors. it's not a forum for debate. i would be all in favor of a state-sponsored school having someone like this for a debate. just, for example, i would be fine with a catholic university having her in a place of debate. the problem is when you're giving awards to someone, you're saying you are deserving of this very special honor, and there's nobody fighting back in terms of ideology. stuart: right. it's not a free speech point. >> in, it's an honor. it's an award. stuart: should make the point that you would not be invited to give that commencement speech, in fact, you wouldn't be invited onto most campuses in america. >> that's probably true. stuart: i think we're in agreement. >> >> it's e of the only things
we agree on toy. [laughter] stuart: thank you, father, thank you very much, indeed. >> pleasure. stuart: next case, nancy pelosi. she had strong words for president trump yesterday. roll that tape. >> the president, i think, talking about this wall is expressing a sign of weakness. he's saying i can't control our borders, i have to build a wall. we certainly would like to -- we have a responsibility to control our borders. building a wall is not an answer. not here or any place. stuart: well, what would judge andrew napolitano have to say about that? dems gearing up for a fight, i guess? >> i think they are. and i don't know how it's going to end up, but i think we're going to know by the end of the week when the government's borrowing authority ends. of course, it can't operate without mortgaging the future, another issue for another time. stuart: oh, no, let's talk about it now. >> i'm happy to talk about it right now. i have two colleagues who will tell you about the horrors of debt. stuart: you want to shut down the government -- >> no, i want the government to
live within its means. the issue you're talking about is the president's insistence that the wall be part of an appropriation in the continuing resolution, this sort of temporary budget. and thedemocrats' refusal to alo and the president's need for eight democrats in the senate where the fill hi buster still exists -- filibuster still exists. stuart: it's a parliamentary maneuver, isn't it, to get it included in this particular -- >> yes, it is. ordinarily something that costs $13 trillion would be the subject of public hearings, committee reports and then a floor vote. stuart: so are we going to shut the government down over the issue of building and paying for the wall? >> probably not, but the point needs to be made that 26 democrats in 2006 were for the stronger border barrier. and those democrat officials were then-senator barack obama, joe biden, hillary clinton and chuck schumer. so i'm not sure nancy pelosi's charge that it's immoral -- and, by the way, bill clinton said we
need stronger borders back in the '90s. so for her to say it's immoral when the democrats, 26 of them supported stronger borders, i'm not sure that's right. >> they are so furiously opposing everything donald trump wants. if he said today is monday, they'd find some way to demur on that. they're obviously going to change their minds and oppose this thing hard and fast. the question is, is there going to be a compromise. might donald trump compromise on delaying interfering with obamacare in return for the wall, would the democrats even accept that compromise, or have they drawn a line in the sd about the wall, and they won't compromise no matter what he offers them? we're going to know the answer to that by friday. stuart: do you think there should be any compromise at all? >> well, from whose point of view? am i on trump's side or pelosi's side? stuart: from the president's point of view. should he compromise on getting money to build that wall? >> i think he should compromise each though i think it's against his instincts. stuart: you're nodding your head.
>> he's got more important fish to fry. the border's a little calmer, a little saner, fewer people trying to cross. i would get more important things like tax reform and health care done and compromise. that's what leadership's about, he's a leader now. stuart: i agree 100%. >> again, we're all on the same side. why doesn't chuck schumer say here's five things we need, pick any two, pick any three. that's the way donald trump does business. stuart: you have a chat with him later on today -- >> do you think he'll take my call? stuart: he certainly would. [laughter] we've still got a dow that's up 200 points, and some individual stocks are very much in the news. hallly burton, a surge of drilling activity in north america, they're just up 21 cents, but they're up. higher profit at hasbro held by demands for video games, very solid gain there, 5% higher. there's a medical supply merger,
becketten dickenson buying cr bard for $24 billion. bard is big in oncology and surgery. they're getting together. now this: a new original series on netflix, the title is "13 reasons why." it's aimed at teenagers. critics say it might glorify suicide. we'll have a discussion of that in just a moment. and president trump saying we will get tax reform news this week. i say it's going to be focused on cutting corporate taxes. will that be enough for zane tankel? he runs a whole bunch of businesses. we'll ask him in just a moment. ♪ ♪
♪ >> i'm nicole petallides with your fox business brief. after macron winses and moves ahead in the first round of the french election, that brought optimism around the globe and right here at home. the dow up nearly 200 points, s&p 500 up 22, and there is optimism across the board. financials up 5, 6, 10%, and you can see names such as jpmorgan up 3% roughly. nasdaq hitting an all-time high, and the names you know including
google, microsoft and priceline and t-mobile all hitting all-time highs, and we're going to watch for google and microsoft to report their numbers on thursday. netflix saying it's going to raise over a billion dollars to continue with its funding of original programming. it's been a stellar performer, up 50% in the last year. start at five a.m. we'll see you there. ♪ ♪
you: the wall is a very important tool in stopping drugs from pouring into our country and poisoning our youth and many others. if the wall is not built, which it will be, the drug situation will never be fixed the way it should be. hashtag build the wall. peter? >> i like the concept of a wall, i don't like the notion of a physical wall. there are technology -- and, in fact, mother nature does a pretty good job of walling back some of this. we have to think about this in a much more sophisticated way. >> yeah. we've already talked about eminent domain fights with ranchers, clive bundy types won't like it. but, you know, the president continues to test twitter's 140-word tweets. stuart: it's another insis tent demand, get this done. it's like the tax statement from last week which i'm going to play you right now. the president says we're going to have an announcement on tax next week. roll tape. >> we will be having a big announcement on wednesday having to do with tax reform.
the process has begun long ago, but it really foramalie begins on wednesday -- formally begins on wednesday, so go to it. thank you very much, everybody. stuart: he surprised a lot of people. he said, look, get this thing done. with us now, zane tankel, you run about 43 applebee's -- >> correct. stuart: and other businesses. and you'll take any tax cut you can get. >> it doesn't end with a tax cut. think about it. corporation tax cuts evolve into something else, either expansion, hiring, labor has a way of finding its own value, raises, lots of different things that happen. if we take it all at once, there's often unintended consequences. so let's start with the corporate tax cut -- stuart: narrowlyfocused. >> well, because he can get it done. stuart: okay, which would you rather have, a cut in corporate
tax rates or repeal of obamacare? because obamacare affects you guys badly too. >> yeah, yeah. stuart: which would you rather have? >> stuart -- [laughter] i don't know there's a conflict in going at both. i don't think repeal of obamacare's really going to happen because there's certain things that are good. pre-existing. you can't just throw those people out into the street. staying on your parents' plan til age 26. we can work it. we can tweak it. we can move be -- move it. the things that are bad about obamacare, we have to feed into their navigation of what is health insurance, what is not health insurance. their narrative, not navigation. their narrative of what is and what is not appropriate health care. mandatory fees, taxes, etc. so we can play with that. but i think the tax cut is the one that really -- stuart: that's what you really want -- >> well, that's what moves this economy, quite frankly. stuart: you've heard this before, the president, republicans say we're going to
do it, we're working day and night. we're going to do it. do you believe it's going to happen? >> well, stuart, i was with you, fortunately, i was blessed to be with you two weeks ago and i said, yes, i do believe it's going to happen. it's too important to his presidency. it's too important to the whole campaign as such. stuart: but you realize what he's saying. the president is saying to the republican party, get this done. >> i know what east saying -- what he's saying. stuart: unify. >> he also has to move a bit. i think that wall thing, to peter's point, there's technology today. the israelis can put a beam from one end of our border to the other end, and anytime you cross through it, an alarm goes off. we could think about the billions of dollars that wall could cost, you could employ twice, three times as many border patrol police -- stuart: so zane tankel, ace businessman of new york city says not that concerned about repealing obamacare, not that sure we really need to build the wall, but i want my tax cut for businesses.
>> exactly. [laughter] exactly. stuart: you're a very honest guy. how is business? is it all right? >> business is marginally okay. the restaurant space is still suffering -- stuart: and you think it would really pick up if business taxes were cut? >> oh, yes. most definitely. stuart: it would? >> most definitely. and better yet, if individuals' taxes were cut, quite frankly, because there's more discretionary income. but one leads to the other. think about repatriating money that's offshore. it comes back into the united states, goes back into circulation. where does it go? it goes to the people, ultimately, right? doesn't go to t pulation if we bring back trillions of dollars that are sittin ba accounts all over the world in thailand, in china? stuart: fair point. >> they don't want to bring back here now, it comes back into circulation. where does that circulate to? stuart: okay, i'll hear you and i'll repeat, zane tankel wants a cut in the business tax rate.
>> and let's hope they're listening. stuart: thank you very much, indeed. by the way, the dow, it's not exactly lost ground, it was up 220, now we're up 190 points, there you go. that's still a very solid rally. news on netflix. they have a new original series. it is titled "13 reasons why." critics say it might glorify suicide, liz? >> yeah. teens are watching this, they're binge watching it, and news is crossing that new hampshire schools are e-mailing parents with warnings about it. don't let your teenagers binge watch it without helping them to process it. each episode basically focuses on a reason why the teenager commits suicide. it's being talked about as glorifying or romanticizing suicide. it doesn't -- it only focuses on what the people do to her, not how she internalizes the messages, and one mental health expert says this is extended revenge fantasy.
so it's kind of a dangerous zone for netflix to be in, but it's not affecting the stock. stuart: got that. thank you very much. check this out, please. jamie colby, she is the host of strange inheritance on the fox business network. she recently headed to oregon to meet a family which had inherited a massive b-17 bomber. their father bought this thing right after world war ii. she is with us next, but first, just watch this. >> all right. are you ready to take the controls, jamie? >> are you ready for me to take the controls? >> you better do it, because we're heading towards the water. >> oh, that's not good. rattling around in the noisy aluminum cockpit, i see that our 1800-mile trip to oregon is no easy flight. >> you might want to push the nose forward a little bit. you psi see how we're d you see how we're climbing up? you went up about 500 feet. go ahead and make a left turn here. >> you know this is my first time flying? >> really?
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>> thanks, stuart. first of all, wow, flying fortress. dropped a lot of bombs during the war. one of the most efficient aircraft. what the heck was i doing behind the controls? taillight surprise. but a family, their -- total surprise. but a family inherited a bomber. stuart: they inherited a bomber? >> this woman, her father wanted to sell more gasoline as an independent gas station owner than anyone else in the u.s., and he did it. you know how? off the highway you would see a b-17 on top of the gas station for decades, so a lot of veterans and families would come and see it, and they'd fill up. then he opened a burger joint, they'd get lunch. he was a shrewd and smart businessman. this family is committed to rebuilding this bomber. it's in a lot of pieces right now. so i couldn't fly one -- not sure i would, having seen it apart. but the couldings foundation has a lot of -- remember our tank episode, the big tanks? they also had that collection.
so, basically, i get behind the controls and learn all awe about this amazing aircraft. fly it successfully, i'm glad to say the crew made it too. stuart: hang on, we're a financial program. he bought the plane -- >> about $15-17,000. stuart: how much is it worth now? >> in the tens of millions of dollars, the ones that are done. you can't afford it, stuart, even you. [laughter] stuart: there's nothing strange about that. jamie, what time? >> two tonight, one fashion, one flying, 9-9:30 tonight. this is the last of our season three episodes. we are already shooting season four. stuart: excellent, jamie, i shall watch it. thank you very much, indeed. there will be more "varney "after this. i have asthma...
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>> paris in the spring. a lot of people are very excited what it means for france. a lot of peoplwatching on wednesday. my opinion on tax it may be smaller, you gotta believe. stuart: we'll take that. thank you very much, peter. connell mcshane it is yours. >> we do have breaking news on "cavuto: coast to coast." good to be with you in for neil. the stocks are rallying on optimism that the centrist candidate in france, emanuel macron will be the next president of the france. he is headed for a runoff against marine le pen on 7th of may. investors love the idea how it is playing out.