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tv   Varney Company  FOX Business  May 1, 2017 9:00am-12:01pm EDT

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proposal. let's get it done. maria: yeah, let's get it done because taxes and what people think moves the economy. dagen, i'll see you in new york. dagen mcdowell there. tomorrow, don't miss my interview with secretary of transportation elaine chao. stuart, over to you. stuart: i'll take it. now, america's technology giants are peeling-- piling up a cash mountain. apple will reveal it has a quarter trillion dollars in crash, maybe more. and microsoft more than $100 billion in cash. now, almost all of this money is stashed away overseas. never before have private companies controlled such vast amounts of money. the politicians want it brought back home. this week, we should find out how they're going to do it. over 2 trillion is over there,
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if just part of that comes back here, that's quite a stimulus, at no cost to taxpayers. let's get to politics. from president trump, he's invited philippine's duarte, and another surprise, the president has promised on key issues to keep the government running until the end of september. "varney & company," about to begin. ♪ a live look at capitol hill and the white house and an agreement on funding the government. it's a trillion dollars spending package that would keep the government operating
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and keeps going through the end of september. here is what is out of the bill. here is the compromise. no funding for the border wall. no money for a deportation force. no cuts in funds for sanctuary cities and no cuts to planned parenthood. as we said this is a trump compromise and some will call it a trump cave. much more on this throughout today's program. again, we're going to say it, there may be a vote on health care this week. president trump says he guarantees you will not lose coverage if you have a preexisting medical condition. roll that tape. >> preexisting conditions are in the bill and i just watched another network than yours and they were saying pre-existing is not cered. pre-existing conditions are in the bill and i mandated it, i said it has to be. stuart: and he thinks there's going to be a vote this week. a senior source on capitol hill tells fox news as long as the
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votes stay where they currently are, the vote could happen thursday, this week, thursday. okay? let's get to apple and that cash mountain. it's nearly $250 billion, all of that is cash. can you get your arms around that? how much money is a quarter trillion dollars in cash. try this, apple could buy any one of these big name companies with that money and still have a ton of money left over. tesla, wal-mart, home depot, even disney. buy them outright, spare change all over the place. james freeman is with us. and cash mountains, he's with the editorial page. and what kind of a low tax rate would it take to bring it back home. i sense a political problem developing here. what say you. >> i think if we get the trump proposal of a 15% corporate tax rate.
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stuart: it might be lower than that. repatriation tax might be lower than 15%. >> if you've got a 15% rate here, they're paid tax on the money overseas, essentially no penalty when that money comes backment if on top of that, you get a repatriation bonus, great. in has been the problem of the last several years, really, this whole era is big companies are not investing. and i think, obviously, apple shareholders would like a special dividend, but i think what you're kind of hoping for is that these situations, when that money comes back, it starts going into investment. that would-- small silver lining in the gdp report, let's hope it continues. stuart: to me, this is important, because, a, i don't think we've ever seen that kind of accumulation of money by a private organization ever before in the history of the united states and b, i think we may be on the verge of a huge stimulus 'cause it's just 10% of the $2 trillion overseas comes back here, you're talking
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$200 billion stimulus to the american economy. >> the sums are amazing. our paper talking it's more than the foreign reserves of the united kingdom or canada and part of this, it's know the just our horrible tax system, highest in the industrialized world keeping that money overseas, you have a situation where apple has traditionally not done big acquisitions, they do 15, 20 smaller deals of the year. maybe with that cash, maybe they think about buying tesla, disney, something like that, but i think what you'd love to see is that money going into capital expenditure, creating new products, finding the successor to the iphone. stuart: i wonder if the left will find new traction because of the size of this cash hoard and the power of the big american corporations? that's cash for the left. >> they're doing that, when george w did the tax holiday, remember he did it, it went to
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stock buybacks and dividends not capital investments. stuart: the left doesn't like that. ashley: the economy on-- >> it's a stimulus, whether it goes into capital investment or to new plants and factories. >> if you get that big capital investment, productivity rising and higher wages, the will evident is not going to have much of an argument. stuart: stay there, please, james, where are we going to open this monday morning, 24 minutes from now, we'll be up a little bit. up about 30 points on the dow industrials, up on the s&p and nasdaq as well. the rally begins modestly this week. facebook reports profits. they're one of what we call the fabulous five. the premarket looks like it will hit another record high. $151 a share on the cards as of 24 minutes' time. how about apple. they report their profits and their cash hoard tomorrow afternoon. we're on it, of course.
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they're going to be at the opening high, ap now, here is a shock to me at least. president trump invited philippine leader duterte to the white house, he's stood by and hundreds, if not thousands are dead. judge napolitano is here this morning. i'm sure you don't approve a man like that to the white house? >> i'm sure he's inviting him to the white house because he's interested-- i'm sorry, this is going off. stuart: his phone. ashley: not now, mr. president. [laughter] >> because he's interested in assembly a coalition of countries whether it's southeast asia, to resist north korea. whether it's southeast asia to put pressure on north korea. or southeast asia because he needs allies around the world. remember, his predecessor, excuse me, duterte when obama
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was in the white house said is going to kick americans out of the philippines. we have a huge military presence there, i think the president wants to talk him out of that. there's authortainers we love and there are authoritarians we hate. there are authoritarians we'll overlook what they do domestically and those we'll try to influence. stuart: you're the constitutionalest, you stand by the constitution of the united states of america. >> which says the president sets foreign policy. stuart: you can't be happy with this man doing what he's done-- >> he's-- when he was the mayor, he got on a motorcycle with a police escort on their motorcycles and if he saw drug deals going on, he shot and killed the person he thought was the dealer. he doesn't always kill the right person. stuart: he did that himself. >> he did not admit doing this himself when he with as president or authorizing this,
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but it's clear he's authorized it because without any due process, without any charge or trial thousands of people have been killed, people involved in the drug trade and again, sometimes they kill the wrong person and sometimes the person they kill, that the crime doesn't merit death. you can't just go about doing it. he does that. and al-sisi, another monster in egypt, president trump decided it's better he's our friend than our foe for long-term strategic advantage, this is a privilege that the president has, do you want this guy teaching constitutional law? no. stuart: so on this monday morning, judge andrew napolitano has dropped his all-out opposition to anybody who strays outside the libertarian bounds and prepared to accept this man in the white house. >> the pope condemned libertarianism over the weekend and said beware the invasion of libertarians, they exalt the individual above the state. and sometimes one has to love those who don't understand you.
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stuart: turning the other cheek, oh, excellent. [laughter] >> when i'm saying love i'm not talking about duterte, but bringing limb him to the white house. why do you put me in this situation on a monday morning? >> because i can. >> judge, we'll see you in the 11:00 hour. how about this, an anonymous hacker claims to have released pirated episodes of netflix's popular series "orange is the new black" after the company did not pay what the hacker termed a modest ransom. liz: the hacker, dark overlord, that's the name of the hacker, euphemistically. and they broke in and stole almost all of the episodes of "orange is the new black", and
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other shows from fox and-- >> when you say hacked-- >> they didn't pay ransom and then they posted it. ashley: it sounds like a 14-year-old in the basement. liz: this hacker group broke into three health companies, they sound serious. stuart: dark overlord, did they pay. liz: we don't know if they paid. stuart: netflix did not pay. liz: and they posted it. stuart: i don't think it makes any difference to their performance whatsoever. liz: it's not moving the stock. stuart: there's the good news. check this out. dez any world plans to bring self-driving shuttles, and no word when you see the driverless buses to the disney park. does mark zuckerberg have political ambitions? my answer, yes, he does. he went to a ford assembly line and then dropped by a home in
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ohio and he says he wants to visit ordinary people in all 50 states. politics? i think so. big day in the history. six years ago today, the world learned about the seal team six raid that killed usama bin laden. general jack keane next on that. kevin kevin kevin kevin kevin kevin kevin kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you.
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>> tesla chief elon musk. sneak peek at the first tesla commercial truck. you'll see it in a moment when the market opens. we're saving it until then. the stock is going to be up again though. let's get to north korea. fox news military analyst general jack keane is with us. general, the president has invited the philippine president duterte to the white house. he's a known killer. and i believe to build a coalition, is that what's going on here? >> it's part of that and china
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has been trampling in our interest on our allies interests in the west chin and all of those allies have certainly lost trust and reliability in the united states during the obama administration. i think this is all about renewing that relationship and making certain that the philippines as a country knows that the united states has interests there, and we're going to back them up and that was not taken place by the obama administration. i think it's less to do with this particular individual and more to do with the country itself. stuart: do you believe that china now backs up the united states and we back up china to stop north korea developing that missile with a nuke on the top? >> yeah, absolutely. we've got three vectors we're pursuing from u.s. policies dealing with north korea, one is diplomatic and we've largely given that role to china and we've put all of our eggs in that basket to be frank about it. because they think they'll have
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impact on china and get them to stand down. and it remains to be seen whether they're successful or not. the second thing is economic. we've got a stable of sanctions against north korea we'll be unveiling and we also have some likely against china if they fail. and then the third one is what we've discussed a number of times, the president has put back on the table, a military option. because that military option is on the table, it strengthens the diplomatic hand that the chinese are using. stuart: and you're no doubt and the president is leaving no doubt that if push comes to shove, he will use the military in a military fashion on the korean peninsula, right? >> yeah, that would actually mean war, but if the north koreans have weaponized ballistic missiles and put them in launch capability and we knew they were going to launch them, no president would be able to withstand something leak that. we cannot depend on defensive-- missile defense to take that missile down in flight with a
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nuclear weapon on it. we've got to take it down before it takes off. stuart: and an intercontinental ballistic missile, and we don't know that there's a nuclear on the top, would we should it down? >> no, we've not used any of these kenneth-- kinetic. and -- >> this is the sixth anniversary of the killing of usama bin laden, what's changed on the front since then? >> it's remarkable because the al qaeda organization has been revitalized and thriving. it's the number one syrian opposition force standing up against the assad regime. they've grown dramatically in size in syria.
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the other thing since that death, we have had isis. isis came on the stage in 2014, when it invaded iraq. that grew to an organization of 30,000, and it has expanded into 30-plus countries where it has organizations that either directs or inspires and motivates. so, the world of radical islam has morphed into a global jihad. it's considerably more dangerous than the anniversary date when we killed bin laden. stuart: can you tell me you're a happy ex-four star general with this administration? >> i feel better about this administration than i felt in some time. when it comes to foreign policy and national security, they are on the right path, in my judgment. stuart: general jack keane, 15 seconds on it, thanks indeed for joining us, all a pleasure. >> good talking to you, stuart. stuart: i've got one of those airline videos. not good.
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new video of a delta pilot smacking a passenger involved in a fight with another woman waiting to board a plane. delta, by the way, is standing by the pilot. espn's got a problem on its hands, politicized programming with left-leaning slant, dominating its daytime lineup. yes, it does. a lot of subscribers not happy with that, they've lost 12 million of them. more varney after this. predictable. the comfort in knowing where things are headed. because as we live longer... and markets continue to rise and fall... predictable is one thing you need in retirement to help protect what you've earned and ensure it lasts. introducing brighthouse financial. a new company established by metlife to specialize in annuities & life insurance. talk to your advisor about a brighter financial future.
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>> now, james freeman, wall street journal editorial guy has written an article with espn's political problem. they've got a lot of daytime content that's left of center. i don't watch espn. i thought this politicizization is about football games. >> it's really about everything. and if you look at the sports center program 10 years ago, 15 years ago versus today, it used to be game highlights and making jokes about the game and now it's taking on a heavier, somber tone and hitting a lot of social issues and increasingly a lot of issues that sports fans tuning in to see a ball game don't want to hear about e that's only part of espn's problem. the problem is cutting the cord to get the football game on your phone. >> it's a big part of the story, certainly.
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a lot is generational changes in technology. a lot of millennials watching youtube instead of buying the cable bundle. what used to drive the sales of cable bundle, espn is a must-have for sports fans and obviously they don't see it as much of a must-have as it used to be. stuart: they've got to adjust, they've lost 12 million subscribers as i understand it and they just fired about a hundred people, including on air staff. they've got a crisis situation here. >> yeah, and i don't think they don't really get the problem because they're still talking about offering more commentary and their guidelines say they will relate it to sports whenever possible. stuart: whoa, that's big of them. >> if you're a sports fan-- by the way, sports fans tend to skew conservative and it's-- i don't think conservatives or republicans are looking for now a conservative sports network, they just want a sports network that doesn't feel it needs to
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try and show how serious it is by hitting all of the political issues of the day, which of course, they can find on lots of other channels. stuart: certainly can. if i want sports i'll watch sports, please. the dow industrials average hoping in five minutes' time. we will be up about 35 points, okay? not a bad performance for a monday morning. back in a moment.
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it is traditionally day when socialists parade through the streets. let's see how many socialists we've got left in america. okay. where it is nice to go to seattle. >> sarcastic, yeah, right i shouldn't have said that. i am a refugee from socialism i don't to see it here. dow jones industrial is open today with a 17-point gain. 20,960 or most. on the left-hand side of the screen as they open up they're going green stocks largely moving high. fabulous five big name technology companies here's how they've opened. facebook, 1 51 all time high. amazon 929, with up a bit more this morning nearly $5 higher. microare soft is higher all time
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high or close to it. goggle ailing pa bet down a fraction. apple 145 again i think that is an all-time high. there's a closing high or -- i don't care. 145 bucks share on apple a lot of people will take it. how about tesla moving higher again. all time high actually 316 that's story of the day technology all time high. now chief elon musk has first image of the electronic truck and they confirmed four new factory bus tesla all time high. and then we've got the story about netflix and anonymous hacker said to have released pirated episodes of orange is the new black they did not i a ransom doesn't hurt the stock 152 on netflix it is monday. who came in early to cover this for us? i will tell you actually liz claman and keith fitzgerald and start with pile of cash.
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we're going to find out this week moved above 250 billion dollars. now, chief, bear with just work with me please. if some of that money comes back that could be a whopping great big dividend for apple shareholders. couldn't it? isn't that induce to buy the stock? >> well, you know nevermind the dividend could be for buyback or any acquisition but big nugget to have ibm for example stuart either can't pay it or simply uncapitalize had it comes to competition like this. >> what are they going to do if they brought money back? what do you think they brought back a hundred billion just suppose what would they do with it? >> boy, you know i'd have to talk with tim cook on this one but i have to believe they go into the service business i have to believe they're going into upgrade path or iphone that account for substantial portion of their salessen i have to
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believe they look at the ecosphere. three prong attack and if i were in charming of apple. >> suppose they dongt bring any of it back spoagz a low tax rate 15% and still don't bring it back. i see a political problem, keith. >> i see a political problem but you know what from a shareholder standpoint that's not a bad thing because 14% of their ref knew will come from overseas in next few years and do it anyway and invest overseas as long as corporate loopholes exist that will happen. liz grip >> the the money overseas for tax reasons and tim coke said there's nothing patriotic about paying higher taxes. >> if you have a 15% rate and keep it over there and not over here, i think that politicians will have a field day, james. >> not a concern if we get that 15% rate you're going to see money come back just to show you does torsion of this tax system apple has borrowed $88 billion to pay dividend there sitting on
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a quarter trillion of cash that is -- >> brought money back home to pay those dividends $18 billion you pay tax on 54% so leave it over there. borrow it at low interest rate. >> you've got it. , i mean,s that how things work a distortion you're right. show me fabulous five again please, a lot of money flowingik to you for a second are they all too expensive for you? >> not a single within of them are given what i think about the future but that cools down to any perspective we're due for pullback but fine so much here. had is the the future of our world we're dealing with. i think it is very hard to go wrong because the future -- our world wow brave strong stuff this morning. keith, very good for a monday morning that wakens up why on the left coast? that's -- now saying, sorry for you, son. tesla's chief elon musk is getting a first look at electric
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trk what the heck is that? >> darth vader if that is the first look i'm missing something. i have to say. you're not impressed james. >> tell you what would make that really beautiful is if that truck did not have a 7500 dollar tax credit for the buyer -- [laughter] did not have a zero emission vehicle credit if there were no state subsidy for the factory. the batteries for it. i think it could be really beautiful. >> what will be the the size of the charging station for that? the size of the empire state building. smtion that's wait a minute producers is that it? is that -- that's all we've got. black and blue -- it is a teaser i can't see a thing quite frankly. let's -- look at that darth vader ultimate tease. doesn't say nothing -- no. [laughter] >> okay. get me out of this -- look at the big board yeah --
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time to get out of things oh look at this. big board we're up eight points that's it. good. oil back below $50 a barrel. 48 to be precise. here's a look at the financial etf otherwise known as xlf a basset of stocks repghting financial companies. republicans in congress aim to gut financial regulation. that's why it swung just a fraction higher or now fbn our parent company 21st century fox and the private equity firm black stone reported the talk it to law firm a bid for tribune media, one of the nation's largest television broadcasting companies. 21st century fox flat that is up $2 that would be 7%. that's the talk. that's what it's un. about. let's get become to netflix and hack quickly what happened? liz: dark overlord wanted money for ten episodes of orange is is
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the new black. and overall serious of the cash. when netflix put it on a file sharing site online and tweeted about it now three dozen other shows are are threatening to post online. he alleges this hacker, he or she allege as to have stolen. stuart: if i wanted to find and look at new episodes of orange is the new black, could i? >> you can do it? >> going to fuel sharing downloading it. not a hard thing to do. okay well at least they didn't pay ransom they're out there. and stock is totally uneffected i'm not surprised. liz: somebody who watches the show. gliewrts become to dead even and up 6 points 29,947 keith back to you a lot of people say we're gearing up for the second leg of the trump rally. what do you say? >> if we get any kind of agenda through i think that's accurate because a lot of moneyments to
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go to work hope and optimism are driving fear and pessimism that's a good thing and you know people are beginning to understand that growth really is the driver here and whether that's economic growth per the country or whether that's specific growth for the companies that doesn't matter. growth is still growth. stuart: now james i don't ask you about stock market forecast i won't did it but do we look position? for a second leg of the trump rally get out of that? >> i'm just saying if the corporate tax rate goes to 15%, if we go from highest in centralized world to among most get thetive it is hard to not be optimistic about future greet and we've already seen great earnings this quarter. stocks are not cheap if that goes through. stuart: never heard in my life. you're all right. here's a story i like this one.
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lower east side of manhattan is about to get its first target store. now, i am making this out to be a big deal i know why. >> rethink of the ice age story that target is coming into dense urban and suburban areas and a 130 stores and cities they're planning by next end of 2019. so it would be a complex of a bowling alley somebody else to build it, restaurant, medical clinic to the model right now to come into the city. >> loop into the city, dense populations that the way to go. >> interesting. stuart: a all all time new high 145 that's where it is. one quick issue story before we go it is may day. ♪ this is traditionally the international workers day. it is basically socialist event but this year in america it is all about identity politics. i mean, i think socialism is spent forth james. you?
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>> looking for espn wall to wall coverage of this event. up there and viewers are looking for maybe caitlyn jenner could be hosting something covering these -- fascinating rallies. stuart: you got that in very, very nicely. i remember when i was a young guy in -- living in europe. may day was a socialist workers peflt. working people did not go to work that day. >> military parade in russia, moscow whole thing. >> it is not leak that in europe anymore. now socialism is retreat got 6% of the vote. >> to expand in u.s. and, in fact, it is now a new silicon valley perk to take the day off to go protest. facebook is offering google and über saying use your personal -- >> may day in america is immigrant rights day and trans day, muslim -- about rights day not socialist day any longer that's my position. on that note i would say --
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i missed that -- what did you say keith go ahead. >> here in seattle it is excuse for recreational violence unfortunately. >> that's your problem i have no -- [laughter] sorry for you, son. thank you very much indeed gamings james and keith we'll be back in a second. could you dow it been points higher that's what we've got this monday morning 20,950. the latest addition to amazon alexa. a new gadget to help you pick out your clothes. [laughter] >> tell me what outfit to wear ed today that passes judgment on your clothing outfit of the day. electronic assistance, the new reality. gizmos that can control nearly every aspect of your life. how do you foal about that? we're on it. and facebook's zuckerberg 50 state tour that continues. this time it dropped many for dinner surprising family in ohio. here's the the question, what is zuckerberg up to? considering run for public
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officesome looks like it don't it? back in a moment.
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>> dead flat market this monday morning i will tell l you we're at 20,934, however, all time high it is for some of those really big name technology companies. will you look at this please? tesla,16 new high. facebook 151 new high. apple 14 a new high watch him go. mail any packages lately? using word mail loose ups a new twist on surge price what's that? >> retailers during speacialg the busy holiday months they were going to need blah blah space because we have a you feel this stuff going out and don't
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fulfill that it you know like a cost of how much they're sendings out ups will charge them for spies on the truck that they don't fill so this is because the two ups and fedex are spengtding a lot of money extending their network in order to keep up with the amount of shopping that is done online and shipping involved so they say look to retailers if you make a prediction and give us bigger boxes than you thought you were goig to in other words big stuff charge you extra because it takes up more room in the truck. >> in the position to play hard ball they're having trouble. that's what it is. last week we told you about new echo, look. difficult assistant enough chief correspondent is with us this morning. now, i see these -- the alexa. [laughter] as electronic companions being developed pretty soon we're all going to have them.
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>> digital ?angs chef we're see cortan and bix but all of them serve similar purposes that they can respond to voice command and commands and have almost conversations. not quite. but behind the scenes there's so much intelligence and connectivity with other smart devices in your world, home whether it is siri on the phone or alexa kengted to smart for example i can tell it to change my thermostat which is more that is connected to the internet, to your wi-fi system and more that has that forward facing thing that is a -- a voice that you can, of course, talk to it makes it seem more natural. easier -- , however, with alexa, echo look you have crossed into another area with a camera that is looking out into your world and it only works if you talk to it. >> on screen right now.
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says okay alexa take a picture, take a video. and what it is doing is it is getting picture of your look and then -- they use machine learning and other experts and ai whether or not to tell you that is for you. >> so passing judgment. >> we don't know exactly how it does -- >> demonstration of what it is all about as a camera on the thing it looks at you takes picture of you and then passes judgment on how you look. >> well wants to help you make better fashion choices for you, and it will, obviously, start to use, you know, decisions you've made about e clothes you leak to wear and don't like to wear. it is not out there yet. by invite only coming at some point i guess in the next few months. but each time they're adding, you know, camera adds more back into the system. so now they have more information about your preferences about clothing, so you know, we're allowing this
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into our home. i have an echo at home and i like power of it but we're entering that space where we go how much information do we want to give amy dison main goal is to sell us stuff. >> fascinating. i dismissed these things -- >> and the break through was really alexa. >> we've got facebook chief mark disuker bring you going to comment on this? he has dinner last night -- strong in ohio visiting all 50 states there he is a family of democrats who voted for donald trump for heaven sake. zuckerberg i think he wants to be a presidential candidate what say you? >> he wants to run for office, in fact, i know that he's a controlling interest in facebook. but he's set up a paperwork in such a way to take a break to run your office and still retain control come back and still run the company after the fact.
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so -- he's thinking about it. and he's definitely has a world view now you know a foundation that is dedicated to try to eradicate as choold before adult and shook by the impact of facebook on it which he initially said had no impact. and then kind of came around to the idea that maybe we are wielding a lot more power than we think so now he's on this learning tour to visit all 50 states and you know we said things like show me -- democratic voter who voted for trump. yoim that's a political question. all of that in facebook guy who runs it, who controls it -- and a presidential candidate. >> knows so much about us. imagine he gets so much thftion. a lot of money is the information he knows so much about americans probably more than any of the presidential candidates that has been out there before.
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so it is a fascinating and tantalizing i had a enlook out there making this tour what else are we supposed to think? >> when you couple alexa with facebook and -- zuckerberg and presidential politics. it is 1984. >> right now it is -- >> and this you're u off thank you for joining us see you again soon. check this market now we turned south a little bit and more than half the dow 30 are now in the red. now, we have been calling it the retail ice age yes we have, thousands of brix and mortar stars indeed closing go smores you see them all over the place someone says retail what is hit rock bottom could be time to buy those retailers. that's interesting. a programming note, new show premiering today on fox news channel the specialists. the fox news specialists hosted by eric and bny k. williams and captain this afternoon, 5:00
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eastern. long. it'll get better. i'm at the edward jones office, like sue suggested. thanks for doing this, dad. so i thought it might be time to talk about a financial strategy. you mean pay him back? knowing your future is about more than just you. so let's start talking about your long-term goals. multiplied by 14,000 financial advisors, it's a big deal. and it's how edward jones makes sense of investing.
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between december of last year and april of this year. that is quite a drop. our next guest is making ball saying we've reached bottom in fact retail business. in wineries with us here's head of equities at wed bush. ed welcome to the program. i want you to make your case because one of the stories we follow all of the tile is retail ice age real problems you say they've hit bottom. make your case. >> well let me start my saying i personally don't own xrt but case is twofold if you look at what caused xr are t to be trading actually below where it was, preelection, and not too many sectors are, primarily it is a fear of a border adjustment tax and tier of amazon, and so when i look at what's happening in the world it is becoming less and less likely that there will be a border adjustment tack given the resistance that is going on. and politically it is not a good move either. hard to believe but you know there have been a hundred
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thousand job losses in real retail industry since the election. that is more than the entire coal industry employees. if you're looking to help americans retail is not an area to take apart and have adjustment with that. >> 30 seconds left here but i want to get this in. are there a couple of big retailers brick-and-mortar guys that you would like and buy now? >> burlington t.j.maxx and ross stores reason this trade down, plays it a week near consumer particularly and amazon roof. people go to stores to do treasure hunting exercises those stores amazon is not able to impede upon. >> do you own any of the three stocks that you just mentioned? >> i don't personally own any of those. >> come back soon with an interesting theme there thank you so much. >> thank you, yes, sir. okay, today may day, with a day when left takes to streets and celebrates, socialism. let me remind you i am a refugee
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fromhat nonsense my take on socialism at the top of the 10:00 hour. here we go. . . (alarm beeping)
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stuart: it is may day. international workers day. the day when the left takes off work and celebrates the glories of socialism. i'm a refugee from that nonsense. i left britain in the 1970s, when socialism all but wrecked the economy there. i'm happy to report, despite all the noise protesters will make today, socialism is in retreat. start with europe. the socialist candidate in the french election got a miserable 6% of the vote. and the socialist president is so unpopular, that he decided not even to stand for re-election. in britain the socialist leader of the labour party is about to experience a massive defeat. it may be the end of his party. all across europe there is world socialism is very much out of
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fashion. latin america, venezuela, has become the poster-child of socialist collapse. all right, how about america? well, very interesting. bernie sanders ran for president as a democratic socialist and he gave hillary clinton a serious run for her money. now, his far-left-wing of the democrat party is actually running the show you but he is split the party. just when it looked like socialism would make a comeback, here it has splintered the left. where does a kennedy-style democrat go these days? by end of this day, this mayday, your screens will be filled with protest video. watch closely, the left is descending ever further into identity politics. today's marchs are about i immigrant rights, transrights, police brutality. the passion will be there, not so much the socialism. good. socialism ruined your i'm europe.
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it is killing venezuela. we should be very thankful in america it is fading further and further on to the fringe of politics. that is a lesson today's democrats have yet to learn. the second hour of "varney & company" is about to begin. ♪ stuart: i know it. i quite like it. justin timberlake. liz: you knew that? stuart: check out the big board. breaking numbers as of right now. lizzie, this is the manufacturing -- liz: not so great. 54.8. even though expanding for 95 months, lower than what wall street is expecting. basically taking temperature of the country's factoring. philly fed read. it would come in kind of tepid. stuart: no impact directly on the market.
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we're still down 6, 7 points, that is where we are. figures on construction spending. ashley: down just a fraction, .02%. expected to go up close to half a percent. we hit a record level in february in construction spend, 1.2 trillion. as a result of these two weak numbers, we see the dollar starting to fall against the euro and some other big currencies. big data. liz: watch the 10-year as well. stuart: tepid economic news this morning. got it. down 10 points points on the dow industrials. i want to show you the big tech names because that is where the action is. tesla all-time high, 318. apple, all-time high, 145. netflix coming in at $154 a share. i think that is another all-time high. money doing very well in those big technology companies. as for politics the headline is, democrats in disarray.
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we'll get to the republicans a bit later. democrats in disarray. former vice president joe biden says the left needs to start thinking big again to connect with working class americans. house minority leader nancy pelosi says the problem isn't the message, it is the delivery. she says the left has walked the walk but can't talk the talk. not sure what that means. tammy bruce, democrats in disarray, we all agree with that, but what is nancy pelosi saying? >> she is not in presidential leader. doesn't want to name leader of the party. doesn't want to name chuck schumer because he is so wildly unpopular. there is no one she can point to like mr. perez or anybody in the democratic national institution, the committee, because they're all pretty much socialists. she is being now confronted, she will have a primary challenger who is huge bernie sanders
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supporter saying look, not only lost 60 seats in congress which is true. when she pushes back against socialists, capitalism, the free market can be good, that is now why they hate her. she is really in some serious risk with this guy in san francisco. stuart: you know the left, the hard left, really is taking over the democrat party. they are the new leaders. i got to believe that. i don't see the old line people coming on strong any longer. they're defending -- >> they started leaving during the carter administration. you had kind of classical liberals who were a little bit more conservative leaving and becoming republicans changed a bit the republican party. they became independents. we've seen that certainly more in last eight years, during trump's run as well. all the people that would normally moderate the party, help the lives of democrats have left. this is you now where that party is split because of course, you can't be effective when you're doing this.
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if they want to do big things and change things, need to look at venezuela see what the results will be. why everyone around the world is rejecting it. stuart: the only reason the democrats can be effective at this moment because the republicans are split. if the republicans were unified behind a single message and single policy areas, the democrats would have no power whatsoever. >> they only have power because the establishment is allowing them to. the bureaucracy is listening to them. republicans at this point comparatively, still having power moving forward from the sheer will of donald trump. joe biden said it at an event in new hampshire, seems like, i know it seems like we're in a political death match we can't get out of. that is not exactly an inspirational crowd come to see you. the republicans are in very good shape at this point. stuart: i want more shortly. stay there, tammy. next story, it's a new spending bill which will keep the government funded through the end of september. but wait a second, it does not include money for the border
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wall, no money for a deportation force. it does not cut funds from sanctuary cities, doesn't do that. it does not defund planned parenthood. these are all promises that donald trump came to power with. not in the spending bill. let's bring in former deputy campaign director for george h.w. bush. marker is rain know. seems to me, mark, president trump compromised big time to get this out of the way. what say you? >> i don't think so, stuart. this is only five months of spending. in the five months, the president has $3 billion per month to rebuild the military. $300 million per month for border security. so i think the president's priorities are reflected in five months worth of spending. stuart: but it's a cave, isn't it? he said, okay i'm not going to pursue sanctuary cities for five months. that is, well, if i say a cave that is pejorative. if i say it's a compromise with
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the democrats to get it out of the way, i'm sure you agree with that? >> no, i think it is prioritizing. the president is keeping his powder dry for tax reform. you can appreciate that, stuart. that is what we need for growth. president will focus in. this looks like a victory in the swamp on capitol hill for yellow belly caucus, absolutely. to the point of your opening of the show hour at 10:00, you know, profligate spending is a reflection of the swamp. it is reflection of you know, socialism light that persists on capitol hill. i think president will address this through spending cuts but he has got to prioritize on tax cuts. that is what is reflected in this deal. stuart: this deal, does it open the door to make it easier for a health care vote, maybe this week, thursday, maybe. >> yes. stuart: maybe serious action on tax cuts? >> yes. stuart: i call it the compromise. get that off the table you open
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the door to health care and taxes, do you agree with that? >> yes. i'm a guy who believes in cutting kev sit, capping spending, because i do not trust these guys on capitol hill at all, any of them. i think the president did not want to burn down bridges on five months worth of spending in order to get the tax cut deal done soon as well as the health care vote, you're right. stuart: a moment ago, tammy bruce our guest here, said that the republican agenda is being pushed forward by the sheer will power and push of president donald trump. do you agree with that? >> as usual i think tammy is right on this case. that it is really the force of will of the president. and i think we're going to see the president leverage the bully pulpit more and more, particularly on the tax cut deal. i think president will hit the road. he will go into the districts of vulnerable republicans who are part of the yellow belly caucus to get votes on tax cuts. i think it is president who is pushing through the republican agenda again.
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guys on capitol hill. i just don't trust them. i want them to get behind the president more fully. stuart: we hear you. mark, thank you very much. >> thank you, stuart. stuart: quickly check the big board before we move on. we're down 16 point, 17 points, rather tepid economic news at the top of the hour maybe that pushed us down nearly 20 points at this point. news on airlines. united airlines ceo oscar munoz, he is heading to capitol hill. he will testify before the house transportation committee about the dragging incident of course last month. what can we expect? ashley: him and leaders from other domestic care whys as well. what the committees will ask, what are your policies with regard to airline customer service? what can be done to improve relationship between the passengers and the airline you can be sure there will be a lot of questions about the dragging incident. which by the way was settled no one knowing what the details of the settlement were. this issue of antagonism, us and
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them between airlines and passengers. stuart: it is during our show time. we'll we'll see a little bit of that tomorrow. ashley: yeah. stuart: president trump pushing to get obamacare replaced this week. he is apparently guarantying that preexisting conditions will be covered. will premiums stay sky-high? we're asking that question obviously? we have facebook chief mark zuckerberg having dinner with a democrat ohio family that voted for donald trump. is zuckerberg preparing to run for office he asks? yes he replies. that is my speculation. let us be clear. ms-13, nasty gang taking over long island. even president trump having something to -- >> too long washington going after law-abiding gun owners, while making life easier for drug dealers, gang members, you know about ms-13, you know about
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ms-13, folks? it is not pleasant for them anymore, folks. that is a bad group. not pleasant for ms-13. get them the hell out of here. get them out. [applause] stuart: the sheriff that met with attorney general jeff sessions about this problem. you're watching the second hour of "varney & company." ♪ i joined the army in july of '98. our 18 year old was in an accident. when i call usaa it was that voice asking me, "is your daughter ok?" that's where i felt relief. we're the rivera family, and we will be with usaa for life.
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stuart: tiny loss. we have some tepid economic news at top of the 10:00 hour. we're down 20 points, at 20,920 where we are. lots of red on the left-hand side of your screen. president trump making a new push to repeal and replace obamacare. we're told that there could be a vote thursday of this week. now this time the president is guarrantying coverage for those with preexisting conditions. joining us from the world health
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congress, athenahealth which offers back office services to health care providers. ceo of that company, its founder, jonathan bush, is with us now. welcome back to the program. >> treat to be here. thanks for having me. stuart: okay. i don't see how you can guarranty coverage of preexisting conditions and keep premiums down. i don't see how you can call it insurance when you're doing that kind of thing. what say you? >> well it is absolutely the case that the policies so far has been, let's make sure there is access. then we'll worry about cost. whereas in any market, what you do is work on cost and more and more people acts is it. it is the -- where in health care we feel like we need a social safety net which is a reasonable thing for wealthy country like ours but it does make the cost thing a bit of a difficult challenge. stuart: okay. >> the ahca that is being proposed lower acutarial scores
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making it possible for payers to offer cheaper products. how they will pay for that, new entrants in the market, i guess those are two complicated. stuart: i don't want to lose any of our viewers. i want to say the following, if i front up to an insurance company, i've already gota very serious illness, serious disease, diagnosed with cancer, say that for a second. >> yeah. stuart: as i understand it that is a preexisting condition, i can not be refused insurance at the same price as everybody else who had that insurance for a long time. that is what this is all about, isn't it? >> that is, and it is worrisome. imagine car insurance market where you could show up at car insurance company after you crashed your car? stuart: yeah. >> that is allowed with the right excuses and paperwork currently, fundamentally, not tenable. i think the vision is, punish
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people enough so eventually everybody is connected. stuart: he yet, the thing is, jonathan, that destroys the whole concept of insurance. and, on the other side -- >> or a market. stuart: if you deny people with preexisting condition, right, you haven't got insurance, that is your problem, that is extremely harsh and politically non-tenable. that is is the dynamic, isn't night there is your sylis. nobody wants to let go of the social safety net. but on the flip side markets don't work if you don't have the option to not participate. it has to be possible to not participate or at least reduce your participation in a product in order for that product to become more efficient. otherwise why would the product many ever more efficient? what congress is trying to do now, sort of figure out how much downstream room there is on the social safety net so that markets can work.
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stuart: it is a dilemma 1/2. >> they tried once and they fell down. we'll see what they do this time. stuart: jonathan, thanks for coming on the show. sorry to limit to such a narrow angle. i think it's a extremely important narrow angle. jonathan bush, athenahealth. >> sure. stuart: new video from havana, cuba, thousands in the may day parade. some held banners promoting unity. others honored the late leader fidel castro. that is havana, cuba. this is may day. former vice president joe biden said hillary clinton lost because she is a woman. we're all over the story. president trump versus the media, holding a rally as the white house correspondents dinner went on. is there a winner here? we'll try to answer it. ♪ you always pay
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stuart: why do we keep showing -- we show you big-name technology stocks where the money is going. they keep on setting new all-time highs. that is where the stock market interests lie. tesla, 319 it is up five bucks. facebook 1511, apple 145. netflix, 155. that is extraordinary performance by america's big name tech giants. this week we find out how much money they have stashed away overseas. could be half a trillion dollars. how about that? next case.
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joe biden says hillary clinton lost the election in part because of her gender. roll tape. >> this last election, hillary was at such a disadvantage or double standard she was a woman, how it was applied, but beyond that trump was pretty smart. he made it all personal. there were fewer words spoken relating to any issue of any campaign in modern history. stuart: tammy bruce is with us now. i want everyone to remember she was the chair of the los angeles chapter of the national organization of women. is that correct? >> yes, i'm glad that is past tense. stuart: it is past tense. what do you make of the former vice president saying hillary clinton lost in part because she is a woman? >> it is old. it's a 20-year-old excuse. he wants it to be the '60s again. of course it is not true. they are a victim of the feminist movement in a way.
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women are making up their own minds. they made up their minds in this last election to vote for donald trump. that is what they can not stand. an actual independent sensibility what is best for your family, for the future, and being able to separate out gender from leadership. now there will be a first woman president. it will be someone who will be helpful to this country. it will not be any clinton. i think for mr. biden, this is also about pandering. it is still an indication that they have no idea what else to say to their base to explain why they failed because then they would have to come up with a new idea. he says people, the democrats need to think bigger. well, you know we have seen what happens. you showed may day, showed cuba. fidel castro thought big. you can see what happened to that country. communists thought big, see what happened to the soviet union. we don't need to mention venezuela again. that is hell on it. that is what happens when the left thinks big. everything goes down. so this is an issue for the
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average liberal who is a decent person, who cares about the future and they need to reject what he is saying as well. stuart: tammy bruce, hardcore to the end. all right, tammy, thank you very much. >> i love everybody. i want everybody to win. stuart: i'm glad you're on the show. ms-13, the gang becoming a huge problem on long island. more than 200 members are in the area. we'll talk to the sheriff tasked with solving that problem. a hacker holding content hostage, releasing the bulk of the next season of "orange is the new black" avnet flicks refused to pay a ransom. the hacker claims to have more content from many other networks as well. that is a story. we've got it. ♪
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stuart: we opened a little bit higher. i will call it a dead flat market at 20,092. remember that level please. president trump sending a message to the media. skipping the white house correspondents dinner on saturday to speak at rally for pennsylvania. he appeared on "face the nation." he called the show out on unfair coverage. >> very funny when the fake media goes out with the mainstream media, which i sometimes say you? >> me personally? >> i love your show. i call it deface the nation. your show is sometimes not exactly correct. stuart: what looked like a smile there, deface the nation. obviously media versus president
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trump. well who is winning? let's bring in "mediabuzz" host howard kurtz. i think i can frame it like the president versus the media. it sure looks like it. my question i think is valid, who is winning, howard? >> deface the nation. who does that? stuart: classic trump. >> donald trump won this round absolutely hands down. first he kind of kicked sand in the face of the press blowing off white house correspondents dinner. i went to which was flat, our big star wasn't there. sojournnalists had to talk to each other. then he does a total media blitz. has the rally, counterprograming rally on saturday night. beats up on cnn and msnbc. calls out dishonest media. having a great time. does the media blitz with fox, cbs and others, clearly he is getting most of the attention for his argument that the press is unfair and particularly unfair to his white house. stuart: kind of a soft target though, isn't it?
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the media has been largely unpopular for a long time. it is very unpopular now. i mean, the president really can't lose this one, can he? >> well you know, there are lots of people who don't like this president who want the media to be more aggressive holding him accountable. at white house corresponnts dinner, self-congratulatory rhetoric of free press and holding president accountable. fine, kind of an industry convention but what was really missing, except for bob woodward who appeared with carl bernstein, he at least had a passage in his speech the fact media are making too many mistakes, our credibility at an all-time low because of perceived hostility toward president trump. i think that has to be part of the equation. yeah, there is no question, it is the media versus president trump. so far at least in the last few days i would say he had the upper hand. stuart: for a moment, howard, take a quick look at jeff bezos and his net worth. it is around about, $82 billion.
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it is up just $11 billion since the election. now, jeff bezos, as you know, howard, because he owns and runs "the washington post." so here you have jeff bezos owning the newspaper which is the biggest, i'm going to say the biggest hater of donald trump, where its owner jeff bezos is the biggest gainer from donald trump's election. now i would call that a contradiction. what do you say? >> well i don't agree with the biggest hater label but donald trump complained to me, the reason jeff bezos bought "washington post" to use its influence to help amazon. i haven't seen much evidence of that. bezos is not much involved in the newsroom. his net worth shooting up is part of the trump bump. amazon more valuable than other companies. after all the years wall street dissed bezos and thought amazon would not be a moneymaker i don't think trump gets all the
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credit but bezos benefiting from surge on wall street. stuart: i think as "washington post," the political newspaper. certainly used to be the nation's political capitol. i thought it was the political newspaper in the united states. is its reputation slipping a little bit, it is really contemptuous of this president? >> i say, for example, when president trump put out tax cut plan, tax reform plan, the post had fairly neutral headline, trump aims big to cut taxes. "new york times," top of the front page how the trump tax plan would aid the wealthy. we could debate how much the wealthy or the middle class, that was news story, not editorial. at least the post this instance played it straight. stuart: every time we conclude interviews every monday morning, ain't never seen anything like this before. you always smile, you know, stuart, you're right. say it again.
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>> zooms like we should be -- seems like we should be getting used to it. like a fire hose. so much news to drink from. stuart: thank you very much, howard kurtz. see you again soon. now this very, very serious subject, central american gang ms-13 has spread rapidly across america. the fbi says 200 members reside in long island, new york. that is just alone, long island, 200 members of ms-13 right there. joining us suffolk county sheriff, vince demarco. welcome to the program. >> pleasure to be here. stuart: you spoke last week i believe with attorney general jeff sessions. the issue of ms-13 was raised. what help do you want from the federal government to combat this gang problem in your district? >> well, what we really want, what i really want is to see the federal government attack the economy of ms-13. gangs make money just like everybody else. they're making money because
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they are, border is open. the sex traffic, they human smuggle and they are involved in the drug trade. years ago, ms-13 and the cartels would never communicate. but now they have a alliances. they're all part of the same group that is exploiting human beings. the only way to shut that down is you shut the border. stuart: there is an alliance in these gangs across america that deal in drugs and human trafficking, you know this for a fact? they have an alliance and working cooperatively? >> ms-13 and drug cartels in mexico have a relationship, there is no doubt about that. stuart: last week on this program, congressman peter king represents part of long island, he said unaccompanied minors across the border especially obama years, were given guardians in america and some guardians were members of ms-13? >> we do have some intelligence that tells us that. unaccompanied minors come across the border. they're detained. response sorts are found across
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the country. usually if they're from el salavador and the community which we have in brentwood, long island, the uncompanied minors are vetted and homes are not vented but some homes are ms-13 members in there. stuart: not close the border. put a wall in place. >> we need the border security. i don't know if wall is answer or combination -- stuart: you want it closed? don't want people coming across anymore? >> people talk about border security, they think about illegal immigration. i think about heroin, 90% of the heroin comes across the southern border. i think about sex trafficking and illegal immigration and arms smuggling. stuart: sheriff, a police union in north carolina, posts on their facebook page, there is outrage after anti-cop song sung by the rap group, mwa, is -- n.w.a., sung out loud by restaurant employees, directed at officers in the dining room.
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quoting from a facebook post, thank you, smithfield chicken and barbecue jones sausage location for class and professionalism as you sang, f the police as my brothers at raleigh police department attempted to eat at the restaurant. the manager sang along as well. do you feel that is appropriate? what is reaction to that? that is astonishing. >> that is disrespect and unfortunately the obama justice department empowered people to feel free to disrespect the police. you wouldn't have heard this 20 years ago. stuart: no, might, not going to get into that. sheriff demarco, thanks for joining us this morning. >> thank you. stuart: thank you. now this, netflix, obviously very popular show there, "orange is the new black." it was leaked on line, stolen by a hacker. that hacker is threatening to release from more networks. hillary vaughn in los angeles. hillary, the hacker demand ad ransom? >> hey, good morning stuart. that's right.
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they demanded it from netflix. they didn't pay up. so they followed through on their promise to leak the fifth season of netflix's "orange is the new black" online. the hacker known as the dark overlord, demanded that netflix pay up to keep the new season off-line until a planned release. the hacker stole other shows hacking into a postproduction vendor in los angeles. the dark overlord warning with a tweet, who is up next on the list? fox, we're not going to play games anymore. the hack hears high-profile shows including nbc peace celebrity apprentice and fox as you new girl. the dark overlord tweeted he is ready to play another round. so far no major networks commenting on these threats. stuart: hillary vaughn, making her second appearance on "varney & company." welcome back, hillary. thank you very much. >> thank you.
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stuart: markets dead flat go nowhere. we're up two points. that's it. there is nancy pelosi. sheave says all democrats do is fight for america's working families, and rally against special interests that republicans represent. do you i think ms. pelosi is a little out of touch? we're on it. ♪ just like the people who own them, every business is different. but every one of those businesses will need legal help as they age and grow. whether it be help starting your business, vendor contracts or employment agreements. legalzoom's network of attorneys can help you every step of the way so you can focus on what you do.
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we'll handle the legal stuff that comes up along the way. legalzoom. legal help is here.
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♪ ashley: now this, last hour we spoke with lance ulanoff, mashable's chief correspondent, about the new echo look digital assistant. that is a mouthful. this is what he has to say. roll tape. >> each time, a camera adds more intelligence, more data fed back into the system. what is amazon? a big retailer that likes to sell you stuff. now they will have more information about your preferences, about clothing. so you know, we're allowing this into our home. i actually like, i have an echo at home. i like alexa. i like the power of it but we're entering that space, how much information do we want to get give amazon because amazon's main goal is to sell us this
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stuart: we hear a bill is about to be passed that will pay for the government all the way through to september. it prevents a government shutdown. in this funding bill some things are just not there.
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for example, like funding the border wall. like funding a deportation force. like cutting funding to planned parenthood. there is no cut in funds to sanctuary cities. seems like a big compromise to me. david webb is with us, fox news contributor. david, i say that is a compromise, i think it's a good thing to do to get it out of the way to get on with health care, tax cuts. what say you? >> i will agree on the compromise, that is how you're going to get it forward in d.c. they will take political hits on this, because they didn't tie any strong requirements to funding for sanctuary cities. they didn't put in ability to claw back. we have until september 30th. i will say don't throw the baby out with the bath water yet. he will get hit on political promises not kept with the base. that will hurt trump. stuart: i think it is worthwhile on the ground you put it out of the way. concentrate on -- >> then you move forward on tax reform. i talked to steve mnuchin last week about this.
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you have to get that in place. you have to tackle health care. you have to let tom price do his work at hhs. if you do those things they will actually affect people's daily lives. you can go back to reset. by the way 2006 exists for border spending. it is already in law. they can use discretionary and appropriations laws to go in. stuart: only for five months. we're going to revisit this in five months time. hopefully you have got something done on health care and taxes before that five months is up. >> right. stop falling for the 100 days. it is a false construct. even jfk we'll get it done in 100 or 1000, but let's begin it now. let's do the work. stuart: we're told there might be a bill, a health care bill, to be voted on on thursday. we're told that the votes are there, and if they stay in place, stay there, like 216, 218
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votes, we will vote on thursday. anything on this. >> i heard something about it f they do that, not only changes the narrative in washington but makes it possible to move forward on tax reform easier. see what they have in it. they have got to do things done immediately to start the ball rolling. they have to change the trajectory. stuart: am i right in saying this will be one of the last occasions when you ever appear on "varney & company" between nine through noon. is that accurate? >> it is going to be a little bit tough. we'll find a way to do it. but on monday, may 8th, next monday i change time slots at cirrus. i will be on nine to noon where glenn beck used to be. he moves over to 1132. the patriot lineup changes monday. nine through noon. stuart: david webb, nine through noon directly with stuart varney. >> there is no competition. i can plug, tell my listeners.
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you will be on in my studio anyway. because i have my big screens in there. i have fox and fox business on. so there you go. stuart: we'll do a deal. >> set up a camera. stuart: we'll stroke each others ratings. webb, you're all right. >> thank you. stuart: now this, new clues that facebook chief mark zuckerberg could be eyeing another office? maybe the presidency? first, making a photo-op on a ford assembly line. we've seen that now, jetting to a swing state to dine with a family of democrats which voted for president trump. what is the angle, lizzie? liz: basically going to all 50 states to voice wit democrats who voted for trump. he hung out with the democrat mayor of south bend, indiana recently. he posted images on line. he hired david plouffe, obama's campaign manager. to help with the philanthropy of the his initiative.
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lobbying group he is launching. class-action suit, brought up by mark an address son, when does all your government service talk turn off shareholders? you have to watch that. seems like he is angling for some kind of political run. stuart: looks like it. liz: not talking about it. stuart: david webb, still with us. last his appearance. >> i will come every day this week. stuart: is he running for presidency? >> i don't know what he is running for, look at demographics, a lot of people he talked to voted for donald trump. they're oiler. not younger twitter users in large part. stuart: he runs facebook, one of the most powerful organizations in the world and worth 50 odd billion. >> it is powerful because of users and people who are facebook members. those people, a large chunk of them shifted to donald trump. white women, 52%. facebook users 35 years up and age. he has a tough road. david plouffe, good luck with that one. he might have been helpful to
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obama but he is yesterday's news for politics. stuart: a tough guy. xm 9:00 to noon on siriusxm radio. check the market scan. we started to go up. we're up 30 points, 20,0099. president trump, the negotiator in chief, compromising on keeping the government in running. no funding for border wall or deportation force. won't defund sanctuary cities. shortly. nvestors even more valu. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. and at $4.95, you can trade with a clear advantage. at crowne plaza we know business travel isn't just business. there's this. 'a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly.
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stuart: we're going to have a civil discussion about paying our taxes. cut the sarcasm my point of view. i want you to tell us this. you want to pay more taxes. why don't you want me to pay so much more in taxes. i don't understand, eric. you're a good sport. we had a civil conversation this time. >> thank you. stuart: better than last time. stuart: now this, on friday we spoke with a patriotic millionaire, eric schoenberg. he is part of a group of millionaires who want higher taxes on the rich. okay, we put him on the show. very nice to the guy. here is some of your response to that interview. first of all from brian. the wealthy shoulder most of the tax burden and are the ones that hire people.
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this guy is free to cut a gigantic check to the treasury if he wants. here is another from harold. the government does accept contributions, make your check payable to the united states treasury. okay. we've heard this before, liz. ashley: we have. stuart: i was very nice to the guy. i didn't get on my high horse or anything. what do you think. ashley: about your being nice to him? well-done. you let him speak. what he says makes no sense to me. to the viewers point, we made that same point many times. warren buffett, my secretary pays more taxes than i do. great, get out the checkbook. make it out to the irs and send it off. stuart: yeah. ashley: it is ridiculous. but to the first point made by one of our viewers, the rich already carries more than its fair share when it comes to taxes. stuart: what is it top 1% pays 38, 39% of all federal income tax revenue? liz: top 20 pays 84%. stuart: that's it. liz: feel like lonely voice in the wilderness shouting into
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feed of cotton, nobody is listening not even patriotic millionaires. it's a dirty open secret, the rich get the tax cuts, they know rich pay taxes. 2/3 of u.s. households get more in government benefits than they pay into the system. stuart: how many times do we say we do not tax wealth, we tax income. ashley: exactly right. stuart: if you tax the strivers. ashley: what you do, you drive the money overseas. france tried it with 90% tax on the rich. they moved out of the country. stuart: that is a moral in that. thank you very much indeed. we'll be back.
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stuart: who would have thought the president would go so far? the spending plan that will keep the government running until the
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end of september, consider this: no funding for the border wall, no funding for a deportation force, no defunding of sanctuary cities, no defunding of planned parenthood. s that is a compromise. the president has shown himself willing to bend a lot to get rid of any shut down the government argument. it has drawn a lot of criticism from inside the republican party. after all, the wall, planned parenthood, sanctuary cities, deporting illegals, that's bedrock trump country, trump ideas. abandoning them is a big step. okay, it is for just five months only because the argument comes back at the end of september, but it is clearly a compromise, and it's a compromise in the democrats' favor. here's the administration's thinking, don't let anything interfere with obamacare repeal and tax cuts. each the wall and immigration pale before the importance of getting the country moving again. make no mistake, cutting taxes
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will do a lot more for the whole country than building a wall or defunding planned parenthood. the purists will stand on principle. they will call it another administration cave. but the realists understand that this president must establish priorities. if the republican party is divided, and it is, then figure out what's most important, what's most to able and do it. -- doable and do it. there's nothing wrong with compromise if it gets the country back on the road to prosperity. that, surely, is job one, isn't it? the third hour of "varney & company"'s about to given. ♪ ♪ stuart: we will start not with politics, but with your money. check the big board, we're up 23 points, 20,963. but the nasdaq has just hit yet another all-time high including these big name technology
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companies, and look at 'em go. would you believe tesla is now at 322? that's an $8 gain, 2.5. facebook's at 152, up another $2 almost. apple's reached. >> -- reached 146. all-time highs, all of them. apple in or particular, let's focus on that for a second. we're going to get their earnings tomorrow, ask we're going to find out for sure that they have $250 billion, i repeat, $250 billion, a quarter of a trillion dollars in cash. that is apple's cash pile. steve forbes is with us, "forbes" mediator-in-chief. if we get any of that, $250 billion from that one company, get any of that back here, we've got ourselves a stimulus. i expect this week we'll hear how we get that back. what say you? >> that's why you need this tax reform. apple has already borrowed 40 billion in bonds. why would they, with $250
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billion in cash, be out borrowing money in the debt markets? the fed has made it cheap, they can do financial engineering, and so the tax cut that trump wants to put in would make it worthwhile to make real investments, not financial engineering. stuart: yes, i'm with you all the way. sounds absolutely fabulous. what happens, however, if we drop the tax cut to 15%, have an even lower repatriation tax rate and they don't bring the money back? we've got a political problem. >> no, apple has a problem. it means they don't know how to invest the money. but i guarantee -- stuart: well, that's a spin on it, but the politicians are going to be all over it. they're going to say you've got $250 billion in cash and you're not bringing it back here? this is america. >> well, this is america, and america means you have freedom to do what you want. stuart: but there's a very strong political voice that says, okay, you can do what you like -- >> donald trump. stuart: -- but you better do this. >> donald trump has a political
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voice, and he's saying we've got to make america great again. if apple wants to be part of it, great. if it wants to go by the sidelines and become has-been company, that's their -- stuart: i'm with you all the way, if you look at the cash -- >> the politicians focus on apple's cash pile and not on getting rid of all these regulations, not on cutting the tax code, not on reforming health health care, then we've got a real problem. stuart: i think there's a problem when private enterprise, just three companies -- >> and, by the way -- stuart: hold on, hold on. google, apple, microsoft, together they have nearly a half trillion dollars in cash, most of it overseas. now, you can say, oh, they've got the freedom to do what they will, and you're right, they do, but that's a huge political problem. that chunk of money is not doing us any good, and it's american companies that earn that money. >> well, if you lower that tax rate, get rid of it altogether, that would be a good thing. but put that half trillion in perspective.
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that's the equivalent of six weeks of federal spending, eight weeks of federal spending. it is chump change considering what washington is doing. so having a massive tax cut, getting the government to tighten a little bit, that's massively more important than what those three companies do. stuart: okay. >> those three companies won't drive the economy. it's the tens of thousands of small new businesses that'll be created that'll drive the economy just as it's done in the past. the biggies, they eventually be i want the newbies to come along. stuart: all right -- >> wow. stuart: i'll take that, steve forbes, i will definitely take that. any comment on the first hundred days? >> yes. i think, one, he's learned he's got a problem with republicans. republicans have learned they've got a problem with republicans. but the amazing thing is he's done a lot -- doesn't get headlines -- on deregulation. most unglamorous thing possible, but that's setting the stage long term for a real renaissance in this country. piecemeal by piecemeal, piece by
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piece getting rid of those regulations. that's why nasdaq has done well, that's why the russell 2000 did so well. those are small companies. they have life again. stuart: steve forbes, we've booked you for the entire hour. can you hold on for a pit? [laughter] >> and it's free. i should file a complaint. [laughter] stuart: okay. i'd like to see steve forbes file a lawsuit about -- >> $15 an hour? stuart: i might pay you. back to my take at the very top of the hour. i'm saying there are a lot of compromises in the budget which is going to be passed to keep the government running. i want to bring in martha maccallum, her show is now called "the story with martha maccallum." it used to be the first 100 days. look, i'm saying to some degree the president caved -- >> yeah. stuart: no border wall funding, no repatriation force funding, etc., etc. what say you? >> i mean, it is extraordinary to see how definitive his language has been on the wall
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and how hard he's worked to keep that language up over the course of the last ten days. he said 100% there will be a wall, it's a physical wall, and it will be built. on the other hand, i spoke with him at the white house on friday, i said, you know, a lot of people want to understand your political philosophy. you were a democrat for all those years, thousand you're a republican president of the united states of america. people say you're not an idealogue. he said, that's true, i'm not. i am a common sense politician. stuart: he will do what works. >> and that is what we're seeing at work in the early layout of what happened over the course of the end of this week. he didn't want to get bogged down in the funding of the budget right now. he gave up a lot, absolutely, the things that you listed, and there's even more that we could list about places where there were concessions made, and you do have to ask yourself to steve's point in terms of how the republicans are getting along if they had held together on a number of these issues, they probably would have gotten a lot more. gary cohn said this is going to
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be a week of accomplishments. stuart: yes, i want to bring that up. >> they're looking for health care, and that may crack open the door on tax reform. stuart: they say they've got the votes, if they hold til thursday, they'll vote is and put it down. what ayou? >> i don't think they have the votes yet. stuart: it's the moderates holding it up now. >> and i always picture it like a raft in the middle of the swimming pool, and these kids get on, the other ones fall off the other side. we've seen the house freedom caucus has come back, so the very issues that brought them back to the table are what the moderates are upset about. they want to make sure people who have pre-existing conditions are covered x it's going to be tough to thread this needle. the president, you know, is involved again, can and we'll see mike pence involved. this is a big moment for paul ryan. make no mistake. if this doesn't happen twice in a row -- stuart: do you think he's gone? >> when i asked him if he was standing by paul ryan, he said, you know, he's working very hard. i hope he will be able to to pull it off. [laughter]
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so there's a lot of pressure on paul ryan with this second round of health care, make no mistake. stuart: got it. martha maccallum, thank you very much -- >> thank you, stuart. great to see you. stuart: new york is kicking off may day protests. it's may day. marching to the jpmorgan chase headquarters in manhattan. more than a dozen arrests made so far on this heydey. president trump making an appearance at the nra conference, the first president to do so since 1983. he says gun owners now have a friend and champion in the white house. nra spokesperson dana loesch is next on that. dana also appears in a great -- well, in an interesting new ad for the nra. watch this. >> they use their media to assassinate real news. they use their schools to teach children that their president is another hitler. they use their movie stars and singers and comedy shows and award shows to repeat their narrative over and over again. and then they use their
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ex-president to endorse the resistance, all to make them march, make them protest, make them scream racism and sexism and xenophobia and homophobia, to smash windows, burn cars, shut down interstates and airports, bully and terrorize the law-abiding.
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stuart: frequent guest on our program dana loesch appears in a passionate ad for the nra. watch this. >> they use their media to assassinate real news. thaw use their schools to teach children that their president is another hitler. they use their movie stars and singers and comity shows and award shows to repeat their narrative over and over again. and then they use their ex-president to endorse the resistance. all to make them march, make them protest, make them scream racism and sexism and xenophobia and homophobia, to smash windows, burn cars, shut down
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interstates and airports, bully and terrorize the law-abiding. stuart: okay. come on in, dana loesch with us now. dana, i've got to tell you, when i saw that on my tv screen, i was somewhat taken aback. very strong stuff, very passionate, kind of in my face. i take it that's deliberate? >> it is so, stuart, and thank you so much for having me this monday morning. it is, it's very deliberate because i think that we've reached a turning point in our country. i wasn't enthusiastic about the election of barack obama. i recognize that it was historic, and i also recognize that as a freedom-loving american citizen who believes in our constitution and celebrates it, i also recognize that whether or not i voted for him, he was still my president. and the sad thing is, stuart, we have a lot of individuals in this country who make a lot of baseless accusations of this administration while at the same time doing more to undermine our system with their rhetoric and their actions and their riots and everything else than
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anything that they have ever accused the administration of doing. they've undermined the system more than their accusations explain. so this was this response to all of that. stuart: i'd love to run that ad in england on the bbc. i'd love to see what response you get over there, because handguns, as you know, are banned x there is no tradition of gun carrying in britain. >> yes. stuart: how do you think it would go down, that very forceful presentation of freedom twined by our second amendment -- defined by our second amendment? how do you think it would go down in britain? i'm going to tell you, they would hate it. >> well, i don't think that they would like it very much, although i realize there are a lot of individuals there in great britain that also like freedom, and maybe they have a little bit of common ground with americans on that respect. this comes down to self-defense. everyone should be able to defend themselves in any manner they choose when they're attacked by a threat. i think this just comes down an actual human right. stuart: okay. i want to bring this in. the nra, as i understand it, has
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rolled out an insurance plan that covers gun owners who might shoot someone. i believe it pays legal fees? tell me, quick, give me -- you're shaking your head. what have i got wrong? >> oh, it was the daily mail head lauren which i saw last night, stuart -- headline. stuart: not true? >> well, the way that they characterize it, it's ridiculous. nra carry guard is the most comprehensive coverage legal assistance, training and insurance for law-abiding, second amendment practitioners, those who conceal carry. so so you get insurance coverage because, as you know, we live in a verily tick tingous society where criminal even sue their victims, and they win. so nra carry guard has the back of the american law-abiding second amendment gun owner. so that's what this is. the training, which aye gone through, is amazing. i'm a gold member, and i like the fact that if anything should ever happen, i have the legal assistance there top tier attorneys in every city in the country, and i also have the insurance to be able to assist with any civil or criminal
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prosecution. stuart: okay. i just want to run a brief sound bite from president trump as he appeared at the nra conference in atlanta. he says the eight-year assault on the second amendment is over. i know you heard this before, dana many, but for how view -- dana, but for our viewers, listen to this. >> the eight-year assault on your second amendment freedoms has come to a crashing end. [cheers and applause] you have a true friend and champion in the white house. no longer will federal agencies be coming after law-abiding gun owners. stuart: you love it, don't you, dana? you were there and you loved it, right? >> i was there. i am very happy that there is someone in the white house that does recognize our second amendment right and doesn't seek to abridge them any further than what has been done in the previous eight years. and, in fact, seeks to roll back some of those unconstitutional regulation ares.
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this is the first time since ronald reagan that someone in the white house has come and addressed the nra and the five million members that make up this organization. and so it's great to see that. it's great to see some of the steps that have already been taken, institute, in the name of second amendment freedom. i look forward to the hearing protection act being implemented and then we can get into some of the other things too. so i'm very encouraged. stuart: the next time you to an nra ad on my screen, i want a warning, okay, so i can step back a little to get away from that screen -- [laughter] because i can feel you coming right at me. i did like it, by the way. dana loesch, thank you very much. >> thank you, stuart. stuart: you are about to see video from havana, cuba. earlier today thousands marched for the may day parade. some people held banners promoting unity. i don't know about unity for what, but others honored the late, great cuban leader, fidel castro, communist supreme. [laughter]
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all right, now this. if you're looking to start a business, where's the best place to start a business? which city has got most going for you? we'll tell you the 20 top ones, only some of them, after this. ♪ ♪ you always pay
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stuart: if you're about to open a small business, where would be the best place to open that small business? there is a list. not sure where the list comes from, but there is a list, and liz has got it. >> well, the best states are texas, north carolina and florida, but oklahoma city is number one -- stuart: whoa, whoa, oklahoma city is number one? >> salt lake city, charlotte, north carolina, then tulsa -- stuart: put them on the screen. sh.rlotte, tulsa, grand rapids, >> that's correct. all the way down. stuart: they're all red states. >> yes. stuart: virtually all red states. >> now look at this news, guess which state has the highest cost for businesses? the fewest start-ups per capita, the worst, most expensive office space and the lowest sales -- stuart: i think i know.
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i'm guessing thy. >> no, close. stuart: california? >> there you go. >> correct. stuart: new york second? california's the worst place to do business. >> worst place to start a business. stuart: steve forbes, your reaction, please. >> just goes to show where you cut taxes, have less regulation, businesses thrive. california survives only because of silicon valley. how long that can survive in that state, we'll see. stuart: there is a drift in population -- >> for the first time ever. stuart: out of california, out of new york, out of illinois, texas gets them -- >> nevada gets them. stuart: nevada is big. tennessee is big for retirees finish. >> isn't california where hillary clinton got the margin of the popular vote all in california? stuart: almost all of it, i believe. yes, that's right. there's no saving california. well, i'm going -- [laughter] check myself. >> the epa should examine california.
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why are they so crazy out will? the is it the water or the air? stuart: excellent. i think you should be president and instill that in us. check the big board, 20,954. take a look at the s&p financial etf, that's xlf. republicans in congress aim to to replace today-frank, xlf has been doing very well recently. if you get rid of some of dodd-frank, up go the financial companies held within that xlf etf, got that? fbn, our parent company is 21st century fox. the private equity firm blackstone and fox reportedly in talks to launch a bid for tribune media. 21st century fox down a fraction, tribune media nearly 6% higher. what's next? i'll tell you. the man coming town the hallway, cue him, please, here he comes, judge napolitano. what does he think about the
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president trying to make it easier to sue the media? he's doing that. napolitano is next. ♪ ♪ i have asthma... of many pieces in my life. so when my asthma symptoms kept coming back on my long-term control medicine. i talked to my doctor and found a missing piece in my asthma treatment with breo. once-daily breo prevents asthma symptoms. breo is for adults with asthma not well controlled
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stuart: it's been a running theme on this program, we call it the retail ice age. brick ands mortar companies in serious trouble. i don't see malls bouncing back anytime soon, to you? bob macking is with us, he's the guy who try toss sell these ghost malls. >> well, stuart, we sell all kinds of -- stuart: i know, i know, i know. what to you make of this, the retail industry is at rock bottom, and it's going up from here? i guess you'd like the hear that. >> well, stuart, i think it's a little dangerous to paint with a very broad brush what's happening in the retail market. some aspects of the market are definitely facing headwinds and have been challenged, other aspects are still doing okay. stuart: ghost malls are in trouble, respect they? you sell commercial real estate, you rent commercial real estate, that's what you do, and you're
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the biggest in the business. you're big guys in this. you've got to have trouble with ghost mall, haven't you? >> secondary and tertiary malls will face some headwinds -- stuart: what's that mean? >> well, malls that don't have have the most prime tenants or may not be in the pest of locations. but -- best of locations. but that's the natural is cyclicality of real estate. they'll probably be repurposed. this is going to be a shift in the way space is used and what the potential zoning of those properties could be, so there could be changes significantly made to those. stuart: okay, now the secondary and tertiary malls that you're talking about, rents must have plunged there, surely. >> well, they're down. as they are -- stuart: plunged. >> -- in retail generally, yes. stuart: you agree with that? >> in certain malls, it's a problem. stuart: you know, bob, it's like pulling teeth. [laughter] there are ghost malls all over the place, and i don't envy you trying to fill them up. >> stuart, if you look at commercial real tate on a
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broader leve we're seeing reductions in residential rents, in office rents, in retail rentings. and that's just the natural cyclicality of the market. but things get reset, they get readjusted. we've seen some correction in values, and tax reform is something that could help the commercial real estate market very, very significantly. stuart: what's the best thing about tax reform for you? i'm talking about retail rental space like the best to malls. what's the best thing -- the ghost malls. what's the best thing for that group? >> well, i think generally to get retail going we need stronger gdp growth, stronger economic activity, and the thing that can really make that happen is the reduction in tax rates. if we take rates particularly on llcs which is how most real estate is owned in the llc form of ownership, and for small businesses lower tax rates will give more money the folks who own those businesses, and they're going to reinvest that must be -- that money back boo their company. stuart: that's the good side.
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the last thing you guys want is a border adjustment tax. that would nail the retail industry, wouldn't it? >> that would create another issue, no doubt about it. stuart: create another issue? it would kill you. >> it would be harmful. stuart: it would kill ya! >> there are a number of things in tax reform that actually could be very, very beneficial to the commercial real estate market. stuart: you're avoiding me on the border adjustment tax, and you know it. >> it would not be great for us. [laughter] stuart: the understatement of the decade from bob. you're all right. thank you very much for joining us. >> thanks, stuart. stuart: okay. where are we now? oh, steve forbes. the last thing the retailers want is the border adjustment tax. am i right or am i right? >> yeah. call it a 20% national sales tax on imbolters which would devastate -- imports which would devastate retailers like walmart and others, raise the price of automobiles $2500, hit the very people who elected donald trump. not good economically, utterly
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stupid politically. i don't understand why paul ryan's doing this. stuart: see, now it's not pulling teeth9 with steve forbes. he will say utterly ridiculous. [laughter] all right, i've got this storyingen ups. they've tried a new twist on price surging -- sorry, surge pricing. i'm not sure i understand what's going on. >> okay. ups and fedex, for that matter, trying to recoup costs because they're massively having to expand to deal with the surge in online shipping. if i'm a retailer and i say i'm shipping this amount of packages during this period of time, ups says you better fill the space on the truck, because if you don't, we're going to charge you for it anyway. that's the bottom line. and if you don't like it, we're going to drop you. stuart: i just want to draw everybody's attention to a couple of big name stocks here. i'm not sure i can get them on the screen fast enough. amazon up $22 a share, $947 is my quote now. google up $5 at $911 per share.
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amazon, microsoft, yes, i do own some microsoft. it's up 43 cents, brand new high, $68.89. i've got facebook up $2 a share at $152. go. >> all of those stocks you just mentioned hitting all-time highs. stuart: that's incredible. >> it's like a daily occurrence now, isn't it? stuart: the fabulous five. got it. now, check this out. trump's chief of staff, reince priebus, he says the administration has looked at potential changes to libel laws that would make it easier to sue news organizations. uh-oh. judge andrew napolitano is here. >> i'd be very interested to learn what the proposals are, since the rules governing those lawsuits are established by the supreme court. and i wonder be they thought of it before they appointed judge gorsuch to become justice gore such, because he -- gorsuch because he agrees with those rules which make it very, very intentionally difficult to sue
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news organizations because of the primacy of the first amendment in our political system which makes news organizations, whether it be us or our friends on eighth avenue, "the new york times", the eyes and ears of the public. stuart: the president is using the law the threaten the media. that's what he's doing, isn't he? he knows he can't win, he knows he can't change the law, the constitution -- >> obviously, i wasn't the questioner yesterday, but had i been, i would have said to mr. priebus tell us what changes you contemplate, because this is out of the realm of congressional legislation. it would require changing 30 years of uninterrupted supreme court jurisprudence. stuart: well, you wouldn't want to see this, would you? you wouldn't want to see politicians suing news organizations. >> oh, no. stuart: on what grounds can they sue now? if i've got a beef with "the new york times" and i'm a politician, on what grounds can i show? >> if you can make the case that the news organization published
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a defamatory statement about you knowing it was false, with imagine the knowledge of its falsity, or with reckless disregard for whether it was true or false, that's the standard followed consistently since 1964. it's intentionally a very, very high bar because the press should not be afraid to express an opinion, the press should not be afraid to challenge the government. stuart: as you and i express opinion. >> yes, as we do all the time. stuart: i've got something for you. >> okay. is this another surprise for me? like that story this morning? stuart: yes. [laughter] listen to this. the nsa changes the way it collects foreign intention. it will no longer collect certain internet communications that merely mention a foreign target. you approve of that. >> it is a farce to believe that the nsa is going to pull back from anything. the reason they're making this statement is because the section of the statute under which they
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collect this data is due to expire december be 1st of this year -- 31st of this year, and they want to appear as though they are reasonably enforcing it. stuart: you don't believe them. >> i don't believe them at all, because there are other authorities on which the nsa relies for capturing every keystroke on every computer and every upon the conversation in within two or from everybody in the u.s., and they've been doing it since 2005. stuart: shall i repeat where i stand on this? >> i think i know. you more opt for safety than liberty, and you believe this somehow keeps us safe. [laughter] it actually doesn't, because -- stuart: wait a second. >> -- too much information. stuart: you can't do that to me. you can't construct my argument on your own termings. >> your family in the studio, cheering me on. [laughter] and they're cheering me on! stuart: no, they're not, they're not, they're not. [laughter] wait a second. in the age of nuclear terror -- >> right. stuart: and that's what we face -- >> throw liberty out the window. [laughter] stuart: no. collect it all and have judicial
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oversight of what you use. >> here's the problem with collect it all. the san bernardinos and the orlandos will happen because it's too much information for government agencies to an -- agents to analyze. if they focused on on people as to whom there is is the us mission -- stuart: you don't understand software. you don't understand software connected to supercomputers which can peruse a billion items per tenth of a second. >> it requires an individual to examine this material at system point. and when you gather enough information to fill 27 times the library of congress every year? you don't have enough individuals to examine it. stuart: if a bomb goes off in new york city and it's a nuclear bomb, will you take responsibility for excluding the information which would have led to the capture in the first place? >> no, i won't. [laughter] stuart: in that sense, i am. you know, judge, i do believe you're all right, so you can leave us now. [laughter] >> thank you very much.
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does your family see what i go through every day? stuart: the audience doesn't know that my family's -- >> well, they do know. [laughter] stuart: that's right. joe biden speaking out about hillary's loss, and you won't believe what she's blaming it on, partly. back in a moment. ♪ ♪
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>> i'm nicole petallides with your fox business brief. well, it's a new trading month and, well, right now we're seeing the the dow up one point, 20,941. the s&p 500 gaining five, the russell trying to squeeze out a gain, and there's the nasdaq with an up arrow proas well. taking a look at some of the movers on record now for their closing highs, we've watched these names closely, amazon, alphabet, microsoft. they haven't hit all-time highs, but they are on track now for some record closing highs, so so we'll watch for that. and all three reported upbeat results late thursday. taking a look also at netflix. netflix is one of the favorites of investors,156.85 right now. did hit a new high, they did have ten stolen episodes of orange is the new black, it was a hacker. they didn't pay the ransom. this is also caterpillar, cisco and boeing.
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♪ ♪ stuart: who's singing that? who? >> maroon five. stuart: of course. that's maroon five, ladies and gentlemen, and i like it. [laughter] you were just looking live there at capitol hill and the white house. there is an agreement to fund the government. it's a trillion dollar spending package. it will keep the government open through the end of september. however, here's what is not in this spending bill.
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there is no funding for the border wall. ooh. no money for a deportation force. no cuts in funds to sanctuary cities, and no cuts to planned parenthood. fox news contributor mercedes schlapp is with us. you can call this compromise or a cave. what would you call it? [laughter] >> you're so tough, stuart. you know, i think it is a compromise. this is what happens. i think the problem is that since president trump, it's early on this his administration, there wasn't really a lot of time for him the insert, push forward a lot of his priorities including the sanctuary cities or, for example, defunding planned parenthood or the wall. remember, the wall was not a very popular concept even amongst republicans within the congress. so that was going to be an uphill battle. so i think donald trump took his -- stuart: is the republican party -- they're going to go along with this, right? >> yeah. well, i believe so. i think at the point where we are right now, president trump,
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his priority as well as the gop leadership was the insure that there would be no government shutdown. they understand that the way they had to do this, stuart, is that they needed in this case definitely democrat votes, because you need to get to that 60-vote threshold in the senate to pass this budget. if they would not have those votes from the democrats, the government would have shut down, and one of the things that democrats though how to do very well is point the finger at the republicans and say it's your fault. and we know that a government shutdown is incredibly unpopular, it hurt republicans, you know finish. stuart: it always hurts republicans. always, always. >> right. stuart: real fast, look, you're a political insider. you are. >> come on. are you calling me a swamp creature? is that what you're calling me? stuart: your words, not mine. [laughter] i'm not going any further than that. what's this i hear about the votes are there for the health care bill? and if they're still there on
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thursday, you're going to vote on it? is that accurate? >> wow, i'd be interested to know who your source is, stuart, because i'm hearing that there's still a lot of in-fighting going on, that you're still having about 21 republicans who are in the no category, over 50 some republicans who are in the insure category. i think they're still battling it out. i don't think they quite have the votes yet in the house. stuart: okay. joe biden, former vice president, i'm going to roll a sound bite on him talking about hillary clinton's loss in the election last year. roll tape. >> this last election, i think hillary was at such a disadvantage or a double standard because she was a woman how it was applied, but beyond that, trump was pretty smart. he made it all personal. there were fewer words spoken relating to any issue of any
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campaign in modern history. stuart: well, he -- [laughter] ascribed part of hillary's loss to her being a woman. what say you? >> that's just outrageous. i think when you look back, there were many women that democrats were counting on the vote their way. they ended up voting for president trump. and this is why -- stuart: hold on, hold on, held on. i'm not being tough, i'm just asking a question here. >> go ahead. stuart: you don't think misogyny plays any role whatsoever? because i think it does. >> i don't think it does. i think president trump sold a very simple economic message that resonated in these communities that suffered under a president obama, during his time. so i think for president trump it's because he delivered a very effective message. he honed in on the forgotten man and woman. he honed in on the working class. and i think that was very effective. when you look at it from a political standpoint, in these battleground states, those individuals who voted for president obama -- many of
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them -- turned their vote over to president trump and are hoping he can get this economy going. it was an economic message where hillary clinton lost was the fact of messaging. she didn't know how to message to these working class men and women. stuart: okay. there you have it. our political insider -- [laughter] >> i hope i'm like a butterfly in the swamp. i mean, something a little more, you know -- [laughter] stuart: anything you like. >> not a frog, an amphibian or an alligator -- stuart: why don't you just side for political insider? it's a very nice thing to say. mercedes, thanks for joining us. >> take care. stuart: hold on a second. elizabeth, you've been pulling a face at me -- >> oh, no, this whole woman thing, i mean, it doesn't set a good example for women. what if hillary won and russia's putin gave her a hard time? oh, it's because i'm a woman. or e north korea. oh, it's because i'm a woman? really? it doesn't play. it's patronizing, it's sanctimony and this perverse sent of victim hood around the clintons all the time.
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>> she was a failed candidate, bottom line. >> three weeks before the election they stopped polling because they believed this their data analysis. they believed their own b.s., they didn't know what hit 'em. [laughter] >> oops. stuart: steve, my family's in the audience. >> that's why i said b.s.. >> cable. stuart: just before we digress here, you saw a brief visual image of a black square in the -- there it is. now that, apparently, is our ry first look at what the tesla people are calling the new electric truck. that's the first look at it. that's called a tease. >> it looks like darth vadar. stuart: that's all they've got? >> yeah. stuart: good enough to get the stock up $10 a share. do we know anything else here? >> that's it. elon musk -- yeah, it's going to come out in september. stuart: he has driven it? >> yes, he has. stuart: and he says it's like a sports car. >> it can go 200 miles an hour. >> batteries you have to put in the back though. stuart: that's not true.
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>> who's going to want a truck that needs to be refeud, in effect -- refueled, in effect, every four or five hours. stuart: where are we? we're up ten points on the big board. stay with us, everyone, more "varney" after this.
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stuart: whoa, more trouble for the airlines. look at this, delta is defending the pilot who was caught on video smacking a female passenger. you want to tell us what happened? >> just another fun day of flying. these two women got into a fight getting off the plane in atlanta. they were really going at it, one was choking another. the pilot jumps in, separates the woman, uses whatever strength he could to get them apart. as you can see, captured on camera. he was relieved of his duties, the pilot. delta did an internal investigation, said, you know what? he did everything he should have done -- >> and now he's back on the job. apparently, these two women knew each other and apparently, one put her legs around the other and had her in a chokehold. the headlines are the pilot attacked these women. no, he was trying to break it up. >> he came to the rescue, basically. stuart: tomorrow, by the way, on capitol hill united airlines' chief executive is going to testify. >> yeah. stuart: obviously, this is all about the dragging incident from way back when. >> yeah.
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stuart: what do you expect to see, steve? do you think congress is going to try to impose some new rules on the airlines for this? >> they will threaten it. but what i think the ceo is going to say is if you on the plane, you stay on the plane. they're going to offer $10,000 instead of $300, basic things to defuse in the future. stuart: they're going to make a market in overbooking. >> southwest and jetblue won't do that anymore, they say. stuart: it's just terrible pr for the airlines. they've got to keep control inside the flight cabin. they've got to. >> right. stuart: you can't lose control. sometimes you have to exercise force to keep control. and if somebody's got a camera on you -- >> everybody does. stuart: having a go at somebody, that's bad pr right from the get go. >> this when they're dealing with bombs on devices and everything. that's a lot. stuart i think we sold that one. more "varney" after this, ladies and gentlemen. ♪ ♪ finish i mean wish i had time to take care of my portfolio, but..
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well, what are you doing tomorrow -10am? staff meeting. noon? eating. 3:45? uh, compliance training. 6:30? sam's baseball practice. 8:30? tai chi. yeah, so sounds relaxing. alright, 9:53? i usually make their lunches then, and i have a little vegan so wow, you are busy. wouldn't it be great if you had investments that worked as hard as you do? yeah. introducing essential portfolios. the automated investing solution that lets you focus on your life.
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stuart: as we close out the program i will show you big name technology stocks. i know we do this an awful lot. it is worth showing them to you because they keep on going up. we'll start with amazon. we're going through twitter, google, we'll go through the lot. this is a story which doesn't get enough prominence. this is story every single day. stuart: right. stuart: these stories keep going up. >> it's a danger. if they don't get the tax cut, you will have 1999, 2,000, handful on popping up market, others stagnant. you know where that he leads. stuart: you could have a nasty tumble?
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>> if you don't get the tax cut through, a big one. republicans accusing trump of caving, the republicans will be in political cave if they don't get the tax cut through. stuart: well-said. you're absolutely right. elizabeth, ash, steve, my time is up. neil, about time for you, sir. neil: thank you very much, stuart. we're keeping an eye on those markets and all those particular stocks. we're keeping an eye on may day protests nationwide. this started out as a look at workers and respecting them. then immigration. it has grown to include the lgbt community, those others that feel at various stages wronged, for the president of the united states they hold little regard. this situation right now in new york city. we have similar protests going on in california, throughout the country. 200 different locales. this is worldwide by the way. you heard about 200 cities in the united states, a couple dozen across the globe here.


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