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tv   Varney Company  FOX Business  October 25, 2017 9:00am-12:00pm EDT

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change thanks for joining us live from riyadh tomorrow we talk with ceo and president of the new york stock exchange thanks dagen mcdowell lindsey bell in new york "varney & company" begins right now, stuart take it away over to you. >> thank you let's call it the greatest story never told that is the growing economy and the booming stock market. >> good morning, everybody. if not bad for trump, the media won't report it that is why the success of growth agenda goes largely unreported we do things differently here we are going to tell you about the extraordinary profit and revenue gains being reported, just heard from boeing, visa coca-cola all doing very well, and looking to even better times to come, this is why the stock market rally keeps rolling we don't ignore the return to prosperity on this program, and we're not going to ignore this either. 145 million dollars was funneled to clinton foundation
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charity frurom russians hill campaign dnc paid for funded the report from russia about donald trump. democrats may regret ever digging into russia, russia, digging into russia, russia, tax cut question of the day, would the unprecedented insuls that are dividing senate republicans sink the tax cut package? good question. what a day, varney & company is about to begin. ♪ ♪ stuart: all right, this is how we are going to open the market this morning, down a fraction, that's it. looks like we will be down ever so slightly but we have been coming back in the last few minutes. who knows where we will actually close -- open this morning.
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three dow components reporting profits earlier this morning, boeing, coca-cola and visa all reported strong profits, no big jump for the stock price, though, in fact, boeing and coke are down. that affect it is dow industrials. let's see how this thing shakes out. very different story for chipotle. woe, way down. the stock is way down 2.84 a share, it was 750 two years ago, more on that just a few minutes. ouch. lisa peek, the markets keep going up, the economy is expanding, profits are terrific and i don't hear a thing about it in the media. >> they would rather focus on ware -- warfare in the republican party. we were told for years about how the country couldn't grow, why have tax cuts, because we are
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not going to get anywhere, anyway, this puts that argument aside. we are looking at real growth of over 3% and could go higher from there. so the earnings numbers coming out are fueling the stock market every visit as much as regulatory reform and tax reform are helping. that's incredibly exciting for the business community and for workers in america, that's the message. stuart: it is. it's very positive stuff. >> yes, it is. stuart: a couple of pnts that iidn't see any place else, o d a half milon fewer people are now on food stamp compared to january the 20th, inauguration day. >> and the reason for that is when obama took office he loosened the regulations about who could apply for food stamps, the number doubled between 2009 and oh 2013 and what we have seen in the last several months is certain states requiring able-bodied persons to get a job or do workforce training, presumably people should work if
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they are able to. if they can't get a job, they can go into training programs. guess what, the numbers of people have plummeted. that's what we should be i think to. ashley: you never hear that. no reports. stuart: lock at the new york times, washington post, you name it, look at it. it's not there. the economy is the fundamental most important story to most people's lives. >> the economy is and by the way in 2015 they can make a lot of noise about lack of legislative process if the stock market continues and hourly earnings continue to go up. that really is going to be very positive for republicans. stuart: stay there liz, because i'm about to cover two scandals facing hillary clinton. the clintons generally, i should say. fox news confirms the clinton campaign and the dnc helped to fund the solicitous dossier about trump's bad behavior in
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russia. next up the house intelligent committee is looking into the role in uranium deal with russia. liz, i want you to repeat the gigantic amount of money that flowed to the clinton foundation charity? >> $245 million, this comes from frank and russians connected to this uranium one deal which got control of a fifth of the u.s. uranium supply. the u.s. needs uranium. stuart: paid to play? >> you're absolutely right. happened mostly during and before hillary's 2008 and later she ran the state department which weighed in, the state department weighed in on the sale of uranium. stuart: liz peek was reporting this a year ago and at the time the clintons were saying, we don't know anything about this. liz: the russia-related company helped iran help iran build reactor, it helps venezuela.
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russians are in venezuela and iran. the story goes deeper. stuart: well said, young man, listen to what hillary clinton is saying about the uranium one deal scandal now. roll it. >> it's the same bologna they have been peddling for years and there's been no credible evidence, in fact, it's been debunked and will continue to be debunked. fox and allies including fox news are really experts at distraction and diversion. >> right-wing conspiracy strikes again. [laughter] stuart: republican and he's a member of the select committee on intelligence, first of all, congressman, the uranium deal, $145 million, that's a shocking number to us at least. >> stu, all of this has to be looked into and what has changed the game here is that very credible news reports recently that an fbi informant who has come out said in 2007, 2008 and
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2009 active investigation showing bribery and corruption and influencing peddling by the russians to try to get you ran yum deal approved. our question, number one, if that's true, do the fbi notify the obama administration, did they notify the justice department, did they notify the treasure department and the state department. back in 2010, i sent a letter to tim in the treasury department on how to approve the deal, i was unaware of the corruption but i was aware of why would we be giving 20% of uranium supply to a company which is owned by the russian government, control bid the russian government and he said that he was on top of it. the committee of foreign investment in the u.s. was investigating this. if they were, were they told by the fbi about the investigation and if so, why did they approve. congress haven't been told about the investigation. why did the fli close down the
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investigation and bob medical -r was ahead of the investigation. stuart: the dossier containing outrageous allegations of president trump paid for hillary clinton campaign and dnc. fox news breaking the story. now my question is, that is outrageous that they would do this but it's not illegal, is it? >> no, it's not illegal. but raises the questions again, first of all, why didn't the dnc acknowledge, this was presented fbi director to president trump as if this was some real document and if the fbi looked into pay if. >> the document f so, why didn't they tell the president that and why they didn't come out to say that their campaign had paid for it and also did the fbi do any check into this at all. so many of the facts are in there turn out to be lies, totally wrong. so there's nothing to this
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dossier, so far with this used as basis for the fbi investigation for the justification of the fbi to go forward with investigation. were they relying on this? you could have had a document prepareed by hillary clinton's campaign full with lies to go ahead of federal investigation of the trump campaign. if that's true that's tactics. stuart: it stinks, bottom line, that's a fact. thank you very much for joining us on a very important story. appreciate it. >> thank you. stuart: more individual stocks are in the news this morning and we've got news on them. walgreens, they are making a lot of money, more than expected as they say. the stock is up premarket. nice 4% gain. how about the defense and aerospace company? general dynamics, they reported higher profits but the stock is down at 208. another defense contractor, they made a lot of money, that stock is going straight up, 3% high nearly 9 bucks at 302, however,
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i have to tell you, the stock of the day on the downside, that maybe chipotle, they'll be down bigger at the opening bell, lower profits, they have lowered outlook, they will be up 12 to 13% at the bell. lizzie, can i say that they have not recovered from e col ie outbreak? >> yes, both hurricanes harvey and irma. they disappointed on lowered expectations, they still disappointed. the stock is hitting a four-year low. bad forecast. this time of year chipotle says this is what's going to happen next year, they will wait until the fourth quarter. little gloom over this chipotle chain. remember, this was a big momentum stock, this was a big momentum stock. stuart: we followed it, remember? 750 bucks. liz: that's exactly right. stuart: this morning opens well below 300 bucks a share. i didn't see that coming, ashley. >> this is a repeated problem.
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you can't have issues arise. stuart: some people would have been tempt today buy it on the dip expecting a rebound. >> that's a great point. [laughter] stuart: that's my style of investment. check the futures. we are narrowing the loss, looks like a downside move may be 4 to 5 points, that's it. it's not a big loss. i'm going to say dead flat to ever so slightly lower at the opening bell. okay, check this out too as well, 11-year-old, she was was named america's top young scientist, she is young, she's 11, invented sensor that detects lead in drinking water. again, she's 11 year's old. new hope on the fight against alzheimer's, one neuroscientist says that medicine to prevent disease is coming soon.
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two senators flake and corker will not seek reelection. spokesperson for the republican party, here is the question, where does the rnc stand in this fight between the president and his own party? more after this.
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stuart: we are following general electric very closely. if you buy on the dip, some people did, lots of concern about the dividend there. we will find out for sure whether they would pay it or cut it, right now just below $22 a share. now your amazon story of the day. it wants to connect your home delivery, your home, i should say, to delivery carriers. it's through something called amazon key, controls your locks to your house remotely, let's deliver to people inside to drop off the packages. how do you feel about that? liz: would they do vacuuming too? [laughter] stuart: two establishment republicans not seeking
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reelection, arizona jeff flake and tennessee's book corker. president trump has feuded with both of them in extremely personal terms, joining us now rnc spokesperson kaley, all right, you represent the republican national committee, you are the republican party. so whose side are you on, the president or the establishment because they are at each other's throat. >> well, stuart, we are on the side of the american people. stuart: yeah, okay. [laughter] >> well -- stuart: come on. >> we side with the president. senator corker, the president one your state by 26 percentage points, senator flake, one by 4 percentage points, the american people want you to stand with the president, if you want to represent constituents, you've got to get behind this agenda, getting behind tax cuts, obamacare repeal and replace, that's what we have to do. stuart: i'm sorry i interrupted you there before giving the full answer and your full answer was you're siding with the president two leads the party. that's intriguing.
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now, do you know anything about senators corker and flake and how they will -- how they will vote come the tax package? >> i suspect that they will vote on the tax package. they promised to people that. i hope they won't let their petty politics get in the way of that and i just want to remind you, stuart, you know, last year, last april senator corker was saying president trump is challenging the foreign policy establishment, in july he said no one is more respected than president trump. so what changed? he's not seeking reelection, that shouldn't change the promises he made to the people. stuart: about this feud between senators corker and flake and the president, the president said some pretty remarkable things in his tweets, would you like him to tone it down? >> i think the president has a right to fight back, he gets punched, he punches back, that's what the american people liked when they elected president trump. i think he has the right to defend himself. it's just -- it's unfortunate that, you know, these senators have decide today provoke this
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because let's remember that they started these attacks but i don't think it will get in the way of the gop agenda. stuart: do you think it's presidential when president trump says things like that in his tweets? >> i think it's presidential to defend himself, you know, some in the mainstream media expect the president to just take the punches lying down and take a attack sometimes from most party and sometimes own party and it's fine to say it's not fair and fight back. stuart: you're not telling him to calm it down, tone it down, you're full square with trump, that's the position of the republican party? >> that's right. we are fully with president trump and i also just want to emphasize, these are two senators that are making these comments on the side, do i want to emphasize we have 51 senators who vote on the budget. we have the house saying we are going pas the budget without
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going to conference, this isn't getting in the way of the agenda, the petty attacks, personal jab that is the senators are leveling isn't getting in the way of progress. stuart: all right, kaley, rnc lady, we do appreciate it. >> thank you, stuart. stuart: surprised me. you got me. look at this, whoa, look at this, president trump sits down with lou dobbs, you can see the whole interview tonight at 7:00 p.m. eastern. we are going places. [laughter] stuart: it's all good. later this hour republican running for jeff flake's seed kelly ward, you'll hear from her, 9:45 this morning, a few minutes away. dish network keeping up with amazon, now why? they are bringing something i've craved for years. they have bringing voice control for your tv, tv on watch varney & company, i want it. [laughter] ashley: it's there. stuart: we are going to get it. coming up after this.
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see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. stuart: this has been in my dreams. dish network teaming up with amazon to bring voice control to your tv. ashley: it is a wonderful thing to behold, stuart varney, you can sit down and don't have to hunt for the remote. you can tell alexa with dish
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network full voice support. i want to watch this in living room. you another tv in another room, i want to watch this in this room. tell alexa what you want and she'll give it to you. stuart: he's my gal. [laughter] stuart: moving on. house speaker ryan says repeal and replace of obamacare is off the table for 2017. that just came to us liz peek. liz: the only positive take would be that they would apply all the time now and the end of the year to passing tax reform. may be that they need to do that. with the house automatically going through and approving the senate budget resolution, you get two spray weeks of work time. frankly i'm surprise today hear him say this but let's focus on one thing at a time because they clearly cannot chew and walk at the same time. stuart: how about a short-term fix, he said that would be on the table next year. they are clearing the decks for tax cuts. would that be acceptable to say?
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>> i think that's exactly right. liz: we have open enrollment for obamacare, americans seeing premiums going up and a lot of confusion next week. stuart: you've got that right. look at this, please, we are going up. pointing south -- pointing down for the dow when it opens in what 5 minute's time, now we are pointing a fraction, i mean a fraction higher, dead flat with a slight biased to the upside. how is that? ashley: very poetic. stuart: leave it right there. we are going to be up 2 points at the opening bell and you can watch this extravaganca moments from now. you know who likes to be
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stuart: okay. i want to issue a warning right here and now, elizabeth peek is with us. she promises to talk about the fed moments from now. >> it's an important thing. stuart: stay with us, ladies and gentlemen. [laughter] >> not fair. stuart: okay. the dow industrial average closed yesterday at 23,441 points, it is up 27% since november the eighth of last year which was election day. i would call that the trump rally. let's see if it rolls further
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this morning. we are going to open that market in 10 seconds, the backdrop is continue very strong profit reports from america's leading corporations. here we go. it is wednesday morning and in 2 seconds the market opens, bang, here we are and we are down 10. down 9, down 8. stuart: i call that flat to slightly lower open. fractional loss 04%. more stocks included in index .12%, very slight loss. nasdaq and technology industries down .16%. flat across the board. three dow components, visa, coca-cola, boeing, they've all reported profits today, not much change in the stock although visa is up about a buck. coke unchanged. chipotle, oh, oh, watch out,
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chipotle says that those hurricanes recently and high avocado prices hurt profits. they lowered outlook for the year, that stock is taking it on the chin, a 41-dollar drop. again, i will remind you, it's 282 now, it was 750 two years ago. >> expensive avocados. stuart: mike murphy getting word before i introducing him. more cord cutting, at&t, pressure on the cable business should lessen. we are getting ready for three big tech companies to report profits, this will be tomorrow afternoon. amazon, microsoft, google, all of them little change as of now as we speak this wednesday morning. all right, who is with us? ashley webster u elizabeth mcdonald, liz pike and fore mentioned mike murphy. all right, mike, i'm saying that the story on the economy and the market is the greatest story never told, we are not quite in boom conditions but we are doing
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very well. >> not boom, completely agree with you, we have to report this morning, stuart on durable goods, hard assets, expected 1% came in so the economy was talked about here a lot. the economy throughout the country is improving. people feel better about the economy, they're spending money and hiring. ashley: but also around the world. you look at caterpillar's numbers -- >> great point. ashley: so china's recovery and global is -- >> today the highest optimism numbers in decades, so it is -- it is europe, tremendous tail wins globally. stuart: from the corner of my eye i am looking at the networks who are going on on the split of the republicans, i'm tired of it. the story is the economy is doing very well, ladies and gentlemen, look at the dow go. next case, amazon, microsoft,
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google. now they are huge companies, they report after the bell tomorrow. mike murphy, any hint on what you expect to see? >> good to very good earnings from the companies. they've all run up year to date, stuart, look at a company like amazon, amazon in the last three months is down about 5% while the dow is up 4%. amazon is sitting here and building a base. i think good to solid numbers are going to push the stocks back higher. new up trend. stuart: i may be getting ahead of myself, liz, do you agree with that? >> i think they better because they have been the market leaders and, yes, they have been a little bit soft lately compared to the market but they were, you know, it's been a concentrated market move for the first half of the year. the stocks were influential, so i think they probably will be good and we hope so. stuart: okay, i have to get to chipotle, i have -- probably the
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stock of the day, new queso dip isn't enough to lift profits. this all goes back to e. coli outbreak. they never got over it. mike: millennial customer which is component has turneddalswhere, they are not going there. they can talk about avocados, they can talk about the natural disasters, but really it's the consumer has lost faith in the company and the ceo is asking for more time, the market is not giving him more time. stuart it's not, no. we are down 5 points on the big board as of right now but look at the level, 23,440, enough said. walgreens reporting higher profits and that stock is up a nice 3%. dr. pepper, snapple reporting lower profits. that's a cultural story. the stock is down 4%. a couple of big defense contractors reporting, pretty good profits, general dynamics
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cut expenses but the stock is down 2%, northrum, sprint, boost to profit, not that much movement in the stock, down 1%, that's all. at&t hurt by cord cutters. >> they lost 385,000 customers, here is the story that's not being talked about. when is the trump justice department going to sign off on the at&t deal to acquire time warner. at&t ceo says we will keep the customers coming in with content, we will buy hbo, we will buy cnn and warner studios and months are going by. the justice department is yet to sign on 85 billion plus deal. stuart: with that in mind, would you buy at&t at 34? mike: i wouldn't.
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it's creating conglomerate which has more to lose with cord cutting, i would stay there. i look something that's going to be streaming like a disney versus at&t. stuart: another amazon story for you. new numbers which show 44 cents of every e-commerce dollar spent on amazon, that is extraordinary. 44% of the dollar is coming in. >> by the way, it's going to continue to grow as they go into new areas like fashion, they really aren't in that industry at this point but they are going to be getting into it. stuart: who saw that coming? who wouldever have believerred that you would buy a fashion item, site unseat, get it in the mail, get it delivered to you, who would have thought? >> it's all about consumer availability, taking advantage of this enormous infrastructure that they have now to deliver things immediately where immediate generation, immediate -- liz: when you look at at amazon's 44%, the ranking is ebay at less than 1% and
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wal-mart and apple at less than 4% of the market. mike: amazon made an announcement that they are buying a smart lock maker so they'll go into your home now, open the door, drop your package off if you're not hope and close the door. >> would you go for that? >> i think we are going there. stuart: you are going to do it? >> you can track who goes in and you can change the combinations any time. >> people steeling things off of your porch. stuart: i never let anybody in my house. >> you can watch them by the camera as they are taking couch and stereo. i'm skeptical. [laughter] stuart: i had a pair of wellington boots, i put them on, i couldn't get them off. [laughter] >> you're wearing them right now? [laughter] stuart: fancy fashion, the green
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ones the queen wears. it took me half hour. hayed to wedge my boot in the window seal and move back. mike: if they can figure out a way to get boots off. stuart: producers are all over this for digressing. we turned higher, the dow is now up 3 and a half points. i think we should make note of that. >> it's valuable. liz: did you go to church in those boots? stuart: i would if i had to. ge, it's getting hammered or has been recently. modest recovery yesterday, down another quarter now at 21.60. but you bought this thing, didn't you? mike: right around 22. the thinking behind it was ge has a lot of problems, but i think when they came out with this quarterly guidance and they caught it from 1.60, 1.70 the
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ceo's, to a dollar 10. a lot of institutions dumped the stock, when it got to 22-dollar level, if they cut it, it will be incremental cut, there's too much value there. activists investors involved in my opinion, more so, and a break-up of ge, some of the parts would be worth a lot more than the whole. stuart: you bought the dip? >> yeah. >> they were perhaps worried about the dividend cuts maybe, right? mike: could be. a lot of fund managers don't want this -- what's been a dog in their portfolio, they don't want to explain it. they sell it and they can say we own the winners versus owning the losers. >> there's a bigger story with ge, really, i don't think they know exactly where they are going. stuart: it's not going to disappear. the company does not disappear. >> i agree. ashley: break-up barrier. stuart: the senate voted yesterday to protect banks from
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class-action lawsuits. i call that a win for the banks and i see bank stocks up, mike. mike: bank stocks have been on a great run. class action is good for one group of people, it's not the consumers but the attorneys. i like that they overturned the rule. stuart: wait, we are almost done but we have to have you talk about the fed, 15 second, go. >> it's an important decision that the president is going to make about who is going to be the next fed chair, even though he likes janet yellen, he said that over and over again, my view is he will appoint jay powell because he is basically a yellen look-alike and what does trump want least to do in this world, rock the boat on the stock market, i think if he appoints john taylor, a lot of people out there who is conservative economist, who will probably raise ratchet rates up higher and draw down the balance sheet faster. people would be nervous in the market. stuart: 45 seconds on the federal reserve.
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>> sorry. stuart: we don't normally do on the program, liz. are you back with us this week? >> you want more? exactly. stuart: 9:40 eastern, we say good-bye to mike and liz, ladies and gentlemen, thank you very much for being with us. check the big board. we are dead flat, 23,438, united airlines giving you another reason to fly commercial, wants to add more seats and give you less leg room to stretch out. we are all over it, believe me. hello, this is adt,
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is everything ok? i could hear crackling in the walls, and my mind went totally blank. all i remember saying was, "my boyfriend's beating me," and she took it from there. when a fire is going on, you're running around, you're not thinking clearly, so they called the fire department for us. the system did it's job. our first truck was on the scene within five minutes. i am absolutely grateful we all made it out safely. it's kind of one of those things where you can't even... you can't even thank somebody. people you don't know actually
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care about you. to protect what you love, call 1-800-adt-cares we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. stuart: now we are down a little bit more, 12 points. mcdonalds getting ready to roll out a new dollar menu. love it. big news.
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nicole, tell me. nicole: that's big news, they are trying to bring the value meal back because they have intense competition but they are doing pretty great. they will launch the dollar value meal plan and start new year. they are available on uber eats. stock is 65% nearly tripled the s&p 500 and it just continues to do well with traffic after years of decline, we are seeing mcdonalds doing better once again. stock is up about half a 1% this morning. stuart: all right, nicole, thank you very much, indeed. united airlines wants to pack more passengers to its plane, i presume that means less leg room. >> yes, rows of ten instead of nine. you don't want to sit in the middle of a plane. stuart: are they taking seat asway from first class? liz: reducing the space.
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correct. flying friendly skies. we have passengers getting angry as we have been showing on camera. this is one way to add to hostility. stuart: well said, liz. united airlines is up. president trump tweeting again this morning. here is the tweet. the reason flake and corker dropped out of the senate race is very simple, they had zero chance of being elected. now act so hurt and wounded, well, joining us kelly ward, arizona senate candidate, kelly, you are very much protrump, is that what arizona republicans want? >> good morning to you, stu, great to be with you and, yes, they do, not just arizona voters but people across the country want an america first agenda to be put into place and the people who have been there for decade after decade like bob corker, like jeff flake haven't been doing the work and so now we -- the way it's clear for new generation of gop leaders to come to washington, d.c. and get
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the job done. stuart: you look very happy this morning. are you -- i don't want to put words in your mouth, are you saying jeff flake good riddens? >> well, i wouldn't have taken him on if i thought he was doing a good job. i think we need people who are out there fight to go secure our border, stop illegal immigration, to fight to put america first in trade deals, make sure our economy is growing and unfortunately senator flake wasn't delivering on that. and so it's time, it's time for a big change. stuart: now senate minority leader chuck schumer, he was very happy when he heard that senator flake was not running for reapplication, just watch this, kelly. >> senator flake has just announced that he's not seeking reelection. >> who is it? >> flake. [laughter] stuart: okay, kelly, you saw that. what's your reaction. >> you know, first you could notice that he didn't even know who jeff flake was, i think that
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proves the president's point whenever he tweeted out that jeff flake is weak on borders, weak on crime and a nonentity in the united states senate and i think that was nervousness. stuart: do you think that president trump did the right thing when he was tweeting very personal insults against jeff flake? >> you know, i wish that there was a little more civility in our political process, but we've come to a time in our country where we are at a breaking point and i hear those very same comments, out around all parts of arizona and so -- stuart: can i ask you this, kelly, forgive me for jumping in like this. >> it's okay. stuart: looks to me that it's president trump versus republican establishment, is that accurate reading of the state of play in the republican party?
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>> you know, i think it's the american people against the establishment on both sides of the aisle. the people who have been there way too long who have gotten into this stagnant point in our country need to be replaced on both sides of the aisle. you know, electing a democrat like kirsten in arizona would be the wrong direction. that's not what people are crying out for. jeff flake are very familiar, flake might be better but we certainly can't have someone like her in the united states senate representing the state of arizona. stuart: kelly ward, republican cant date for that seat, thank you very much, we appreciate it. let's check markets, we are down ever so slightly, a lot of red but there's just a little green. we are down 6 points. i've got what looks like really good news. a neuroscientist says medicine that could prevent alzheimer's is just a few years away. doc siegal will tell us how it
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works after this
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stuart: no big move wednesday morning. ge, it's at a better than 2-year low this morning. down another one and a quarter percent. 21.62 as we speak. the news that we have been waiting for.
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i certainly have. one neuroscientist predict that is they'll be medication to prevent alzheimer's within the next 10, maybe 20 years, doc siegal to explain. is this a vaccine? >> that's one possibility. let me explain this because it's exciting news. alzheimer's was first characterized by eloy al alzhieimer. it's affecting over 5 million people in the united states right now and it's a family disease and getting worse and worse. here is what we found that's so exciting, stuart, the protein in the brain that clogs up the brain forming plaques that's associated with alzhiemer, blocking that, there's a vaccine in oxford, how is my accent?
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oxford. stuart: not bad. >> blocking of the protein that's forming, you can get the immune system to literally fight that protein and looking like alzheimer's is autoimmune disease. it's genetic. you're more likely to get it -- it runs in family, you're more likely to get it if a relative got it and plus something inflammatory happens in the brain and plaques forms. if you can prevent inflammation from causing in the first place, you have your cure, it's on a road. it's working in mice. stuart: long way away, 10 to 20 years. >> i think the scientist is right, 5 to 10 years. they have been using stem cells and antibody vaccines, 5 to 10 years. what i mean is preventing it from occurring or delaying it 5 to 10 years, that's what i'm talking about. if you could delay it 5 to 10 years that's enormous help.
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stuart: suppose you have this plaque in your brain already, you have alzheimer's and you take this vaccine or whatever the treatment is, could it reverse it or stop it in its track? >> brilliant question. stuart: question. >> i think it would slow the progress to some extent reverse it, yes. using growth factors, nerve growth factors like stimcells is another way to enrich the area of the brain that's starting to break down. slow it, reverse it to some extent and the vaccine is going to prevent it. i absolutely belief this -- bele this is going to be the case in 25 -- 5 to 10 years. stuart: a lot of people forget names. i got that. do you have to have some kind of brain scan to show that you've got the plaque in your brain to prove that you have alzheimer's? just not getting a little forgetful. >> here is the answer to that,
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neuroimaging studies, cat scans are improving and now we are able to find it earlier. what can you do? eat a diet rich fruit and vegetables. those who eat junk food can get early alzheimer's. start today. stuart: you know what, siegal, you're on the roll. >> you have a little salmon in the morning. stuart: that's good stuff, though. >> we are finally figuring out alzheimer's. stuart: thank you. now here we are, here we go again, two scandals involving the clintons and now i think the democrats will regret russia, russia, russia. that's my take at the top of the hour. here we go. hi, i'm the internet! you know what's difficult?
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stuart: russia, russia, russia. for months it was all we her about. the left couldn't get enough of it. they really wanted you to believe hillary lot of and trump won because of russian meddling. my, how times change. now it is russia and the clinton connection. of course the media refuses to cover and investigate but there is yet another clinton scandal right here. devin nunez, chair of the house intelligence committee is investigating the following. a russian-backed company wanted to take control of a big chunk of america's uranium business. they gave millions, 145 million to a bill clinton charity. he got half a million for a speech in moscow and met with vladmir putin. big go, shortly thereafter the hillary clinton state department gave okay to the russians to buy
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the uranium. is that pay-to-play. baloney says clinton of the clintons and democratic national committee paid the russian dossier, they bought, funded. stuart: instigate ad so-called report on donald trump. of course it was full of salacious and totally unproven dirt. back then, the clinton people denied any knowledge and took great offense at the mere suggestion that they knew anything about it. times change. two points. first, democrats may regret their russia, russia, russia campaign. former president jimmy carter said the russians had little if any impact on the election. now it has veered off course to bring in the clintons. second, the democrats will regret the continuing presence of hillary clinton. she lost. she is mired in scandal again. and she won't go away. a few months ago, it was trump and republicans getting unwanted attention. now it is hillary, bill and the democrats, again. things change fast. the second hour of "varney & company" is about to
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begin. ♪ stuart: yes, we will have more on the clintons in a moment. first new homes sales. ashley. ashley: blowout number. a huge surge in september. 667 on annualized basis that is up 19% in the month of august. highest level in 10 years. the biggest month over month increase in 25 years. so a huge surge, which is great. we know there has been real restriction in number of homes for sale in the housing market. this is good sign. another indication of the economy moving forward. stuart: wow, seeing banner up 18.9% compared to august. that the is huge. ashley: august was impacted a little bit by the hurricanes and everything like that. whatever, this is huge number. stuart: breaking news. lots happening this morning. here we go.
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gary cohn, he is president trump's top economic advisor, he is trying to get support for the tax plan. what's he saying? liz: meeting with 46 house republicans. it is mad dash for the budget. all about the state and local tax deduction. these blue state republicans want to keep it. the plan may be, only get to take the state and local tax deduction if you make up to 400,000. if you're above 400,000 you don't get it. that is the plan they're talking about. peter king is so angry, you know what, if you don't do it, if you don't keep the state and local tax deduction, telling donors to cut off donations to republican pacs and republican groups. this is a big deal. the push is on. stuart: bottom line gary cohn is going all out for 218 votes in the house for the budget. that is what he wants, that is what he is going for. liz: that's right. stuart: look back at the stock market. big tech names, we watch them every day, three of them,
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amazon, microsoft, alphabet, they report profits or otherwise, i'm sure it will be a profit, after the bell tomorrow afternoon. right now those stocks are relatively little-changed. i have to tell you about chipotle, the stock of the day, way down, down $42. 282. they were at 750 two years ago. what an extraordinary come-down for chipotle. coca-cola is up, dead flat. sales of sprite, coffee, tea, doing pretty well. the stock is up 46, dead flat. boeing raising the full-year guidance. the company set a record with commercial aircraft deliveries. that was expected. so you have a tiny little bit of a pullback on that news. down a buck on boeing. vees a, there is a story for you. a new record high. $109 a share on visa. how about oil? not much change there. we'll get, find out how much we
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have oil in storage at 10:30 eastern time this morning. that price may move at that point. next case, let's get back to my editorial top of the hour. two clinton scandals now in the spotlight, however the clinton camp, not backing down. hillary calls the uranium probe, that is scandal number one, she calls that baloney. look at the tweet from former campaign spokesman, pry anfal lon, quote, i regret i didn't know about christopher steel's, about the dossier. this is the second scandal. i regret i didn't know about christopher steele's hiring pre-election. if i had, i would have volunteered to go to europe to and try to help him. he is referring to the clinton campaign funding. they did fund the dossier. katie pavlich, "town hall" editor. >> good morning. stuart: this is is a blockbuster. i'm shaking my head, i can't believe this. >> this is huge, huge, deal. if you remember couple weeks ago the senate intelligence
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committee chairman richard burr came out to do kind of an update what their findings were, where we are in the investigation into the russia situation on capitol hill and one of the main sticking points he talked about was not knowing who paid for this dossier. and now that we know this, we know that the dnc and the clinton campaign helped to fund it, we've been wasting a lot of time and taxpayer money looking for this rabbit trail who paid for it and clintons sat back, knowing thatter this involved, and allowed that money to be spent anyway. stuart: that is one scandal. the other one is, this extraordinary number, $145 million flowed from russian entities, russian-backed entities into a clinton foundation charity. $145 million. that is an extraordinary amount of money. >> if you look at the players involved in that transfer of money it is an extraordinary amount of money as you just said
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but it is also the process how that money got transferred is extremely disconcerting. you look at the people who were involved. the russian nuclear officials who were directed by vladmir putin himself to get further involved in the u.s. nuclear program to obtain 20% of our uranium, which means they have more control at a time when the clintons were in charge at, as secretary of state. they had their hands in the clinton foundation and bill clinton was directly paid hundreds of thousand of dollars, if not millions of dollars for these expensive speeches yet the entire narrative is all about the trump campaign. here is the thing, stuart. liberals constantly accuse the right, whether conservatives, republicans, their opponents on the right doing exactly what they have been doing. as you move forward, when they start accusing donald trump or republicans of doing certain is things, look right in the mirror because they are probably ones
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engaging in the activity they are accusing of. stuart: on that note, tom steyer, billionaire environmentalist, launched a 10 million-dollar campaign running ads in all 50 states for the impeachment president trump. he is wasting more money, given news today, what is this man thinking? >> i'm not sure f he wants to waste his money in 50 states calling for impeachment of the president he can go for it, but takes a lot more than ads to get impeachment going. go for it. if he wants to spend money on that instead of democratic elections in 2018, i'm sure the rnc would be happy to have his money going into those cases. stuart: katie pavlich. extraordinary. that is politics. now let's get to money. markets down a little today, but still very, very close to all-time highs. by the way, tomorrow, we receive the profits reports of three big tech names.
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as big as they get here. amazon, microsoft, alphabet. we find out their numbers at close of trading tomorrow afternoon. that is very, very important. capital wave strategist, shaw ghailani is with us. you are with us because you're consistently right about the overall direction of the market and particularly right about the big tech stocks. lay the ground for us tomorrow afternoon, amazon, microsoft, google, how will they do? >> microsoft hitting it out of the park, everything is about the cloud. it is tremendous turn they're taking. they will probably hit it out of the park. expectations are for a record this quarter. i would like to see that come out. it has done the best. i think you see $80 maybe tomorrow, maybe by friday. really entirely possible. someone no one is pointing to, i haven't heard it very much
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anywhere really, the dollar is plummeting to a two-year low. that low dollar will help all the big tech stocks. stuart: they have earnings overseas, their products are cheaper overseas because the dollar is down. >> if you translate that back to earnings in u.s. dollars, their earnings look better. i'm looking for double-digit growth in the tech stocks. stuart: whoa. i will get my breath back. back in the day on the november 8th election, you on our air, dow industrials were at 18,000. you said it is going to 19,000. then it did. it is going to 20, 21,000. you have been right all long. you rarely waivered. you are cautious, keep it on going higher. will it go higher than 23,400? >> i said couple weeks ago, i talking about 23, we should be talking about 24, 25,000. there is nowhere else for the money to go. yields ticking up little bit.
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money will continue to go into stocks. 200 billion went into etfs alone. last year was 269 billion. there may be records money flowing into the unloved bull market. institutional money is ready to come in. any dip in big-name stocks will be buying opportunity. there is no pressure on the market. something geopolitical kay come outside, putting pressure on big stocks. that may be a selloff. there is nothing preventing market going a lot higher. stuart: suppose we did not get a tax cut this year, or early next year, it faded. we didn't get it. the senate couldn't vote yes. if that happens we get a pullback? >> there is chance of a pull back. there is possibility next year. everybody want as tax cut. democrats don't want it in this structure, they want to push for
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one for their constituents. we'll eventually get a tax cut, what is level of rates nobody really knows. that will still be on the table. the markets will look for that. we have earnings, earnings. this is now about earnings. policies take a back seat. it is all about earnings. stuart: would you buy ge at 22? >> it. dog. ibm are dueling dogs. stuart: i own some of microsoft. you're welcome to come on the show. >> i love microsoft. we own it. we'll continue to hold it. absolutely hitting it out of the park. microsoft is one of my favorite stocks. stuart: shaw gilani thank you very much. check this out. dodgers taking game one of the world series 3-1 over the astros. the outfielder, was yaselp puig. he died his hair dodger blue.
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back to politics, senators jeff flake, bob corker preparing their exits. both feuded with the president. but they will vote on tax reform before they go. which way will they vote? i don't know, but we're on the story. we're talking about more about the clinton campaign funding. the salacious dossier about trump. they paid for it. former white house press secretary under president bush, ari fleischer will join us shortly. you're watching the second hour of "varney & company." ♪
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♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone
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stuart: we're down 50 points on the dow industrials. i wonder what happened? 10:00 this morning, few minutes ago, we heard new home sales were up very strong 18 points. maybe that strength implies the
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fed will raise interest rates. maybe that is why the dow is now down 51 points. walgreen's boots alliance. the stock is down 1%. their prescription drug delivery business is doing well apparently but they say they're having problems in puerto rico where walgreens is the largest drug chain. speaking of hurricanes, royal caribbean returning to san juan and st. martin, the cruise line. tesla will use solar panels and batteries to restore power to children's hospital in puerto rico. interesting story. ashley: using solar panels and batteries to use mini braids, to completely operate independently from the main power grid which is devastation still in puerto rico. apparently the governor of puerto rico was already in touch with tesla earlier this month saying we need help. apparently tesla is responded. unclear who is funding it. the concept of tiny independent
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power grids providing much-needed electricity to some of these hospitals is a good thing. we have seen pictures of operations done in puerto rico by torch on iphone. they need it badly. it is an interesting story. stuart: president trump, well, he is still tweeting about senator bob corker, did it today and he included jeff flake in the tweet. here it is. the reason flake and corker dropped out of the senate race is very simple, they had zero chance of being elected. now they act so hurt and wounded. joining us now, katrina pierson, spokesperson with america first policies. katrina, i hear this from a lot of people. the presidential tweets in this instance are not presidential. he shouldn't be doing this. he shouldn't be using language like this. what is your response? >> i think if people are still wanting this president to be someone he is not they will be disappointed every single time he defends himself. he is is talking about two
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individuals who is very correct, doesn't stand any chance of being reelected. somehow using the president as an excuse, and not only that, but when these individuals speak poorly about this president, particularly in personal way, they are also offending the people that supported him. and president is always going to defend himself and those that supported him. stuart: do you think we'll ever get used to this in the country sits back and see this is tweeting activity and says, you know, hold on a second, are we ready for this? do you think we'll get used to it? >> stuart saying from the beginning people will have to get comfortable being uncomfortable. they did not elect status milquetoast republican. they elected donald trump. he will defend himself in a way he believes things will get done. he won. that speaks volumes. those particularly in the senate, need to give this president the credit he deserves and respect his office accordingly. stuart: do you think it's a winning strategy in this
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instance about tax cuts? the president chased down these two senators. has not been very kind to a few other senators either. now he is really going after them. will he get their vote to say yes on tax cuts? what is your inside knowledge of this? >> well i'm not sure that either of these senators or never trump senators to begin with wanted this president to be successful. we'll have to wait and see. i don't think when there are feuds between senators, that senator the should make decisions based on personality conflict. they were elected to do a job. one thing president trump accomplished with draining the swamp, he is exposing a lot of it. people do not like the fact that you have republicans in the congress boeing against these policies, considering they were making promise for nearly a decade, where this president has been in office only 10 months. stuart: last question, would it be fair to stay say the state of play in the republican party it is flat-out war between president trump and
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establishment republicans? >> not at all. the quote, unquote, civil war in the republican party was well established long before president trump was even candidate trump. this has been going on quite some time. you see the establishment republicans constantly fight back against the conservative side. president trump is here to bring those two together. you have establishment republican party is very upset this president beat them all and they're still trying to fight back against him. stuart: katrina pierson, thank you very much for being with us again. >> great to be here. thank you. stuart: got to report this one for you. after months of speculation kid rock will not run for the senate, telling howard stern he is focusing on his tour and latest album instead. here is what is coming up. our amazon story of the day. this time they want to get inside of your home without you being there. we have details on this. stock is up. back in a second.
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stuart: amazon story of the day, and it is a good one, the company's new door lock system, makes it easier for occur yes delivery guys or ladies to deliver inside our house. lizzie, how does it work. liz: i'm a amazon delivery person. i show up with my phone and package. i scan the door, activates security camera inside the house as it drops off the package. costs 250. stuart: 250 bucks a year? liz: for whole system. ashley: one-time fee. liz: security, you're watching delivery guy do it. i don't want a stranger at my front door. why not drop it off in the
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garage. stuart: what about pour of much thieves or pry rats? you avoid that problem, don't you? liz: my question, put it in the garage instead of front door. stuart: not everybody has a farage. ashley: how how comfortable are you having a stranger in the house? stuart: is this future. type it out on computer everything comes to your house. liz: whether fedex and ups will start doing it. stuart: they are offering the service. i can see that. liz: i understand. i hear you. stuart: coming up, one week from today, the house plans to unveil its grand tax plan. can it get 218 votes in the house? that is the question we're asking all day long. stay right there. ♪ let's begin.
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♪ stuart: it's a good song. greatest band in history, the beatles. now this is the moment when we find out how much oil we have been using, which we've been drawing down from supplies, very important number, liz. liz: surprise build up, 856,000 barrels. they were looking for a draw-down of 2.58 million but it swung the other way. oil to the downside. stuart: i call it neutral news, oil 52 bucks a barrel. keep it right there. the big technology stocks, where are they? we always quote them, that is where the action has been the past couple years. i will tell you right now it's a mixed bag. most are up, facebook down. microsoft is above $79 a share as we speak. yes, i i have a little of it.
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at&t on the downside, we're getting close to 21-month low. of the a lot of cord cutting. that is really hurts at&t. down 3 1/2%. grubhub, more active diners. grubhub up 54. one week from today we'll find out all about the tax plan. president trump has been tweeting about this morning. here it is. working hard on the biggest tax cut in u.s. history. great support from some sides. the winners will be the middle class, business and jobs. congressman brian babin, republican from texas, is with us now. obvious question, congressman, can you guarranty 218 votes for the tax plan, even though you don't know what's in it, 218 votes in the house? >> i can't guarranty it but i tell i think they are going to get it. they whipped it, they set this vote, there is a lot of people
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interested in getting tax reform. this is the gateway to do it. so i think it will pass, stuart. stuart: can you tell us about the senate? you're in the house, you compete with a little bit in the senate, what does it look like over there, can they get 50 votes in senate? >> i had never know what happens in the senate. we passed health care. we passed dodd-frank legislation. rolled back bureaucracy. we funded wall. they're sitting on 300 of our bills over there. it is hard to say what they're going to do. but i'm optimistic. i think they realize over there they better get their act together. and get this thing passed. stuart: do you approve the president's strategy, of direct attack? you don't vote for this, i'm attacking you, do you approve of that strategy? >> all i can tell you that the president is frustrated. he has an agenda. think about this, stuart, if it wasn't for president trump being
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where he is is today, we would be dealing with hillary clinton. forget tax reform. forget all the agenda we worked so hard for. so he is frustrated. quite frankly i don't think they're going to get. done in the senate until they eventually get rid of the filibuster rule, is basically giving a veto to chuck schumer. that is why they have 300 of our bills sitting over there. i'm optimistic. i think they are going to pass this, get it done. i think president will sign it before the end of this year and get some tax reform. we also know that yesterday, miss pelosi told her caucus that if they can keep us from passing tax reform, they will be back in the majority. so i think it is pretty telling we have to get it passed. stuart: step back for a second. we've seen president trump a very different kind of president, using very different language and very different technology, the tweet, do you think we will ever get used to
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him? >> i'm used to it, i can tell you that. listen, i'm not a professional politician. this is my second term. i practice dentistty. is with a small businessman for almost 40 years. it is time to get things done. i ran for my grandchildren and future generations. it is too much big business, high taxes. we need tax simplification, less government, secure borders, strong military. these are the things we need to get done. that is why i think the senate has to start thinking about abolishing this filibuster rule. the biggest thing they have done is give us neil gorsuch. the only way they got that done was get rid of the filibuster rule. that is the big hurdle, we have to cross. stuart: that is a fair point, sir. congressman brian babin, republican from texas. thanks for joining us, sir. >> thank you, stuart. same here. stuart: i will stay on the subject of tax reform. our next guest in his latest
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fox news op-ed says, quote, taxes and the rich, yes, they pay their fair share and they will after tax reform too. ari fleischer, former white house press secretary joins us. ari, always good to see you, sir. >> good morning. stuart: do you think the rich will continue to pay an enormous amount of money in tax and that tax reform won't help them that much? >> it may help them because it will help the economy boom again, and that helps all americans, particularly lower and middle income americans who haven't gotten a raise in 10 years. the way our tax structure is set up, everybody knows this, top 10% of the earners make 41% of the nation's economic and pay 70% of the income tax. the code is fair because half the country doesn't pay taxes. that will remain after tax reform. i wouldn't be surprised if burden on upper income people. this is provisions to help lower
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income and middle mcpeople pay police less. stuart: it doesn't stimulate the economy. you need a lot of fresh money to into private enterprise to get a growth rate of 3 to 4%. >> we have had such weak economic growth for 10 years in a row. that is why there is no wage pressure for their salaries to go up. economy needs that boost. it needs to boom again. the best thing you need to help the economy boom again is cut marginal income tax rates. we'll see if that is a part of tax reformer not. stuart: before i move on i want to ask you the same question we've asked all morning, do you ever think we'll get used to the president and his tweets and his language? >> i think we will. what we knew in the campaign. donald trump is different. he came to washington to change things. not fit into things. sometimes it upset as lot of people and sometimes he goes too far. that is who america elected as president. i'm more focused on policies but
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at end of the day we're not governed by tweets, we're governed by laws. we need to pass laws. stuart: fox is confirming that the clinton campaign along with the dnc funded research that led to the notorious trump dossier. that is opposition research, may be unethical but still legal? i don't think so? >> i don't think it is illegal but people should go into this ice wide opened. hillary clinton campaign and dnc paid a researcher to get information from the kremlin to damage donald trump. that is interference in the american election. russia provided hillary's paid researcher with dirt on trump, that turned out not to be true, that is what is so unsettle ising about the trump colluded with russians to disseminate hillary's emails. mueller is investigating that. so far no evidence at all that anybody this trump campaign did that. but now "the washington post" reports that hillary did.
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stuart: we'll see the day when democrats rue the day they went so big on russia, russia, russia and donald trump. might be regretting that now. >> i think that is a distinct possibility. from the start i always said i have faith in bob mueller, when a lot of republicans saying don't have faith with bob mueller. i know him. he is man down the middle, he will blow whistle on wrongdoing. that is the way the civil would work. stuart: last question, would you like to be president trump's spokesperson? i asked you before. i want to see a smile on your face. >> stuart, i don't want to in anybody's spokes person. i spent 20 one wonderful years in this town. i was done when i was done. stuart: ari fleischer. appreciate it. >> thank you. stuart: news on tax reform. kevin brady, top guy on the tax-writing committee. he said retirement savings plans could be affected by tax rules.
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liz: looks like he is talking about the need for people to save more but this idea they would tax 401(k) plans, or rather change the rules to stop putting from putting more money into them, that hasn't floated. this was genesis of the fight with corker and trump. president tweeted out saying we will not tax your 401(k)s. bob corker said how will we pay for tax cuts? mr. president, you have to back off what the congress's job and senate's job, writing a tax bill. that was basically the genesis of this recent tweet storm between the two, was the president trying to defend your 401(k)s. stuart: is kevin brady putting 401(k) restrictions back on table? >> "wall street journal" reporting that. "the washington post" is saying that could be the case. it is still in flux. it's a very fluid situation. that is very bad when social security is nearly insolvent to go after the 401(k)s. ashley: president trump said
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don't touch it. it is in stone. don't worry about it. stuart: here is a change i would like to see. i think you should haveopt out, when you join a company, and they have a 401(k) plan, at the moment you have to opt of in. ashley: right. you have a choice. stuart: yes, i'm going to be in it. ashley: yep. stuart: i think it should be the other way around, you join a company with 401(k) plan. you have to opt out if that is what you want to do. that way people save more money. far too money people reject found money. ashley: it is free money. liz: kevin brady on the show tomorrow, right? stuart: not sure. will be on the show tomorrow. that is a good point. thank you, liz, telling me what we're going to do tomorrow. that is good stuff. coming up senator jeff flake dropping out of the 2018 race for the senate. we're talking to jeff dewitt, next, one of president trump's closest allies in arizona. he was coo of the trump campaign. he is with us very shortly. remember please, lou dobbs
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interviews president trump tonight. that will be 7:00 p.m. eastern time on the fox business network. alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. fidelity. ...from godaddy! in fact, 68% of people who have built their... ...website using gocentral, did it in under an hour, and you can too. build a better website - in under an hour. with gocentral from godaddy.
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♪ ashley: fox news confirming a dossier containing salacious allegations against president trump was actually paid for by the clinton campaign and the dnc. earlier in our broadcast
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congressman peter king says, well that raises a lot of questions, roll tape. >> it is not illegal but raises the questions, again, first of all, why didn't the clinton campaign and dnc, why didn't they acknowledge this all along? this was presented back in january by the fbi director to president trump as if this was some kind of a real document. and the fbi ever look into who paid for that document? if so, why didn't they tell the president that? why didn't hillary clinton come out and say that her campaign had paid for it? also, did the fbi do any check into this at all? so many of the facts in there, whatever facts in there turn out to be lies, totally wrong. so there is nothing to this dossier, yet -- ♪ hello, this is adt,
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is everything ok? i could hear crackling in the walls, and my mind went totally blank. all i remember saying was, "my boyfriend's beating me," and she took it from there. when a fire is going on, you're running around, you're not thinking clearly, so they called the fire department for us. the system did it's job. our first truck was on the scene within five minutes. i am absolutely grateful we all made it out safely. it's kind of one of those things where you can't even... you can't even thank somebody. people you don't know actually care about you.
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to protect what you love, call 1-800-adt-cares stuart: ups says it expects to deliver 850 million packages between thanksgiving and new year's. that will be up a big 10% from last year. they said they will expand the sunday delivery options as well during that time frame. arizona senator jeff flake not running for re-election next year. he had been a frequent target of president trump. joining us now, jeff dewitt, arizona state treasurer, former coo for the trump campaign. all right, jeff, we had kelly ward on the show earlier. she is running for the senate seat. are you? >> i am not in this race as we speak, stuart. stuart: what does that mean?
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come on, don't hedge, i know you well, jeff dewitt. i am not in this race yet. does that imply you will be at some point in the future. >> you know, i will tell you, here is how it is in arizona, that news yesterday came out of left field for the entire political realm here. i didn't see it, nobody saw it coming. what will happen in arizona, everybody involved in politics is cranking up their pollsters. they will go in the field probably tomorrow, or thursday, come friday, probably monday or tuesday, we'll see polls come out that show where people stand in this race. part of it is, i think the party as a whole wants to have the best person that has the greatest chance to win. and so, you know we'll see where that lands. i'm curious myself to see where we all stand. there are a lot of rumored names to be in that race. mine is one of them. my phone went nuts as i'm sure you can imagine. stuart: i bet. >> we're all waiting to do our homework and make the right
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decision. stuart: but eventually the candidate for senate seat in arizona will be a pro-trump, republican, that is pretty much set in stone, isn't it? >> i don't see any way, especially in arizona. arizona loves president trump. i towed him that last night. arizona loves president trump, more than any other state. the only way you win a primary in this state to be for the president. look we're seeing this around the country. look, if you look at senator flake and senator corker, people that exited are people most critical of the president. what you're seeing around the country, president trump is winning, he is winning because he does have the hearts and the minds of the american public. the american electorate, especially on the republican side. but i went all around the country with him last year, we would see people, i kid you not, people at every rally come up, i never voted before, but i'm registering to vote to vote for president trump. he ignite ad movement in this country.
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this movement continues. we'll see that reflected in who the candidates are here in arizona. stuart: do the people of arizona approve of president trump's twitter storm where he gets very personal with senator jeff flake? i mean, do the people of arizona approve of that? >> you know, as as i go i do a lost speeches around the state, with different republican groups. everybody likes the fact he has unfiltered way to communicate to the american people. everybody appreciates that. everybody signed up for twitter, greatest thing that happened to twitter as company, president trump, a lot of people signed up to follow him, see what he says. it is his way to bypass the media and spin to go to the american public. that is genius. whoever used it to this extent before. this will be in the future. future presidencies will use twitter more than ever before because how effective it is for the president. stuart: it is revolutionary. reach out over the hostile media, get your message out
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there. >> yeah. stuart: jeff, thanks for being with us today. your phone will not stop ringing off the hook. that is a fact. >> thanks, stuart. stuart: we've been reporting apple's iphone x will be difficult to get your hands on, however a new report shows that apple asked suppliers to reduce certain features to boost production. what's going on? >> well, yes, this has to do with the 3d sensor. this is intricate piece of technology that ultimately led to the problem with the supply chain because they fire this infrared to open, unlock your phone, they will use face recognition. in order to do that, the technology fires 30,000 dots on your face to make sure it is you. turns out that is not very easy. less than a micron, half a breadth of a piece of single hair, it won't work properly. apple decided, you know what, maybe accuracy is too much. we're demanding accuracy too
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much. that is slowing down the phones. they will let it be a little less accurate in hopes it will work very well. the question how many people will use the technology, be disappointed by it. apple doesn't think so. this is offshoot of getting latest technology, slow down number of phones available in the chain. now we're saying this phone will debut, 10 will debut a week from friday. only two or three million immediately available. they are starting this off in 57 countries. you can preorder this friday but the chances of getting one are pretty slim right now because they will be in high demand. that of course will hurt sales in this quarter. may end up pushing sales in the first quarter of next year. stuart: that is why the stock is languishing. 156.80 as we speak. coming up next hour, the ultimate scam artist, jordan bell for, defrauded his investors out of millions.
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ashley: congressman kevin brady, top guy on the tax writing committee, changes in the 401(k) plans according to him are still on the table. blake burman in d.c. with more. blake, i thought the whole idea had been shot down? reporter: the president shot this down as "wall street journal" put out a story that the 401(k) would not change. sarah sanders that is his plan, to keep the 401(k) structure. however hour ago, brady given a speech, changes to the 401(k)
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structure are up for negotiation as they unveil the details. here is quote from brady. we think in tax reform we can create incentives for americans to save more and save sooner. we're exploring a number of idea in those areas. brady contradicting what the president had said in, over twitter, just a couple days ago. by the way, a couple other headlines coming out for you. ashley, brady in that speech said if the house is able to pass the senate budget tomorrow, details of the plan will come out november 1st. that is one week away from today. and that there still has not been a decision made whether or not there would be an extra tax bracket for wealthiest of americans. bottom line? the negotiations continue, ashley. ashley: as they always do. blake burman in d.c., thank you very of. we'll keep an eye on the 401(k) discussion. coming up, i said 11-year-old, i said 11-year-old inventor hoping to save other cities from becoming the next flint.
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she will be with us next hour. ..
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train to the performance of the mainstream media just continues to amaze. if you've been watching this program, you've watch an extraordinary story unfold. the growing economy and the unexpected rally for stocks. for three hours a day, that is what we followed. the greatest story never told because for 11 months you've heard her a little about this in the media. the risk of sounding like a broken record, the media just won't touch stories that show a successful president trump. 92% of the stories on broadcast networks were flat-out anti-term. if you see headlines on a $5.3 trillion added to the value of american companies? no, you didn't. did you see any mention of the boom in profits and revenues now being reported by a broad range of companies? no come you didn't. how about the news this week that new unemployment benefit
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claims are the lowest in 1073? no come you didn't hear about that. 1.5 million fewer food stamp recipients come you didn't hear about that either. this is the news that it's important our everyday lives. your job come away disinvestment spirit is not what you want to hear about? what do you think "varney & company" and the fox business network are doing so well? we don't wallow in contempt for president. we are enjoying reporting on america's return to prosperity. the third hour of "varney & company" is about to begin. ♪ ♪ stuart: i like that. we are down the lower the day.
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23,350. that is where we are. i say, the rally in the economic recovery are i just heard the greatest story, never told. dan horror is with us. it's the economy with us doing rather well in their president trump? >> yeah can you just went through the numbers, stuart. most people sense and feel the economy getting stronger, better, improving their lives. you don't see it every night on the nightly news, sort of this desire to focus on what is wrong and broken with america is supposed to pointing out what a lot of people are feeling and seeing her in their communities, which is a revival of their economy. some anecdotal but if you talk to people who own and operate business, there is a way taken off their shoulders after the election last year because they knew things were going to get better, regulations rollback, tax reform is coming. someday we will repeal and
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replace of omnicare. those are people investing money in creating jobs in america and america open for business again and that is something we should celebrate and talk more about. stuart: yes, sir. look forward because one week from today we find out what is in the tax bill. more details one week from today. i hate to call you a washington insider, but that is what you are. can you tell us what is in the tax bill that we will find out officially a week from today? >> yeah, the broad outlines we know, the key thing to look for is to make sure they are not in this corporate rate. there's been talk about that the last week or so. one of the worst things we could do is have a tax reform plan that the good parts are phased in. the only reason that would happen is that the inside washington scorekeeping dynamics and you may call me a washington insider but i don't subscribe to those policy logic spirit i think we will get a robust plan with a 20% rate for
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corporations. hopefully no more than 25 for small businesses. nice, simple and much flatter for the american people and its growth and increase wages. stuart: does that get 50 votes in the senate? that the key factor the key though. does it get them? >> i think it does. if you talk to republican senators, you will get something done, which is good because they haven't done a whole lot. they know they have a once in a generation opportunity to reform our tax code and they have a president is willing to sign it and go out there and championed and push back against the craziness of the left in this country. they sense the opportunity. they are committed to doing it. details matter it's going to take longer than it should. sometime before christmas we will see 50 senators sign on and say yes we want this. trade to belfast mla characterized the state of play is president trump versus the republican establishment. if that's an accurate statement of the state of play, who is going to win?
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>> there are some cases where that is true. if you look at sort of what we've seen over the past couple days, using senator flake announced he is retiring and i'll outpour along with senator bob corker of tennessee who is also retiring. that is a real tension within the republican party. he is probably committed to having good judges on the court reforming the tax code in a progrowth way. there's some areas of consensus repealing of omnicare should be one of those areas. the republican party can rally around and build trust with this president, with the senate and with the house to be able to get more things done. it's not easy. it's taking time. it's frustrating for everybody involved. if they focus on areas where there's agreement on policy and the president's going on and so are congressional members, we can actually get things done and not play into the narrative that it's an all-out war that republicans can't get anything done. stuart: we live in hope dan
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holler, thank you for joining us. much obliged to you. switching attentions to the market because we're a profession love today. the dow industrial down 95 points. the right-hand corner of the screen right there. 23, 345. i'm going to ring in the market bear. he thinks the market is going down. dan shafer is back with us this morning. while combat had >> thank you are great to be here again. stuart: you've been on frequently appeared as people listen to you and your appearance before this, before today and they walked away from the stock market, as recommended , and they would have a missed one enormous rally. >> absolutely. are you a surprise of everybody else about this rally? one of the longest periods in history we have a 93% correction. stuart: i want to advise people to get out because the markets going to crash. >> i think it's going to go down over a longer period of time. it's not a one-day crash. people are a little over exuberant about what's going on
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in politics and politics in the markets are crossed and are crossed in the south african history and that's when it gets dangerous. stuart: are you still forecasting a big decline? >> i expect it to go below were started when donald trump got elected. ashley: when does it start? >> last time i got on the air. this tax program is based on the gdp and the gdp formula includes 42 components. one of those components as consumer spending. consumer spending -- consumer debt has gone up 5% in the last 12 months. consumer savings has gone down. that means retail sales are really not growing based on income. the second ingredient is investment. that is five. that's not going anywhere. my biggest concern now is what's going on with the budget they're trying to pass in washington and this tax reform bill which is basically debt-financed.
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this portion of it makes me concerned because if the government reduces spending, that's one of the major factors in the gdp. the government reduces the tax structure are really hides other deductions that won't be there anymore, to me it's not natural. i look at those factors in the fact of the matter is the u.s. dollar is going to start to get stronger. starting in november a year and a half rally in u.s. dollars. that's not going to be good for our economy because you want a lower dollar. we put those factors together and look for the stock market is going on its adjustment appeared where are you going to go with it? we think it's going from here? 30,000, 40,000. it has to adjust. it's way over his head. that's my opinion. >> i give you unbroken. i didn't jump in on you.
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but you go on today. we've heard your case. you think the big decline starts very soon. we will watch for it. thank you, sir. have we got a show for you. very soon we will be joined by this young lady, 11 years old. she recently won the award as america's top young scientist she created a sensor that detects lead in the water. she is on the show shortly. jurgen bellfort is back, the real bowlful of wall street. good coin is the biggest scam ever. he should know. he scanned young people before he was caught and convicted then went to prison. the scandal now facing the clintons. the clinton campaign and the dnc helped fund that salacious dossier that linked president trump to russia. in the house intelligence committee is looking into hillary's role in a 2010 uranium deal with russia.
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huge money involved. more "varney" after this. ♪
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to stuart: down 100 points almost get into speculating then into speculating then at 10:00 this morning we got news of a big jump in new home sales. a huge jump actually. and further speculating that may encourage the federal reserve to raise interest rates more aggressively because of that strength. down we go, down 100 points on the dow. that is my speculation. two scandals hillary clinton. the campaign and dnc did help fund that salacious dossier that linked president trump to russia. never to come in the house intelligence committee is investigating clinton's role in uranium deal with russia. i want that number, the dollar number. trade for 145 million total came
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in from the mining magnate who ended up basically running uranium one, gets russia to invest in uranium one, 20% and then this company basically ends up being 20% of america's uranium goes to the control of russia. i mean, three congressional now. house intelligence, house oversight and senate judiciary. >> clintons got enormous oversight. let's go. good lord. mark pete nesbit toscano resident fellow at the american enterprise institute. 143 or 145. >> that comes "new york times" reporting. >> that's an enormous amount of money. what's going on here? >> not only that, but hundreds of thousands of dollars funneled by russian nuclear officials into the clinton foundation at the same time the decision was being made when hillary clinton was secretary of state sitting
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on the board had decided their spirit on top of that around the same time, bill clinton was mysteriously invited to give a 90 minute speech for a bank in moscow was paid $500,000 for a 90 minute speech. all around the same time this is happening. everybody's going around with these russia probes with donald trump and we will see where they lead. there is a lot less evidence of any kind of wrongdoing on the part of donald trump in a race in the case of hillary clinton and bill clinton and the clinton foundation in this case. trade to listen to what hillary said during uranium scandal. roll tape. >> the same baloney they've been peddling for years and there's been no credible evidence by anyone. in fact, it's been debunked repeatedly and will continue to be debunked. trump and his allies including fox news are really experts at distraction and diversion. stuart: do you think they can get out of this one? >> yeah, she also didn't have a
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private server in her basement. this is a woman who is 70% of the american people thought was dishonest going into the campaign so i don't need to listen to her there. when you look at ties to russia in the 2016 campaign, more and more looks like it's hillary clinton ties to russia. you had this revelation that he was the clinton campaign and the dnc under hillary clinton's campaign that funded the trump dossier. this is a scandal in and of itself they were hiring a foreign person to go and dig up dirt on donald trump and user information. fusion gps is the kremlin linked opposition research firm. the opposition research firm that vladimir putin used to smear sir magnet ski who was a gentleman who was put in jail and killed in jail under custody of the russians for exposing corruption of the russian government.
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the russian government passed an amnesty act, which put sanctions on russian officials involved in this murder in russia lobbied against it and they hired fusion gps to smear an amnesty and his supporters here in washington to stop that bill. what we have here is hillary clinton hired the same firm that vladimir putin hired to smear my nifty. that is a huge scandal. stuart: i will leave it right there because you spelled it out and that's a good thing to do. complex but we need clarity and you given it to us. thank you very much, sir. you are going to hear reaction from the president on this tonight. he is with lou dobbs. 7:00 p.m. eastern time tonight. get the full story tonight 7:00, fox business. very soon joined by a convict dead artists, join bellfort. what a show with god. the real bowlful of wall street. we will get his take on aqua
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facts. that story is not going away. the senate voted against the rule would allow consumers to file a class-action lawsuit against aqua facts. first -- equifax. this 11-year-old girl recently won the award as america's top young scientist. she created the center -- invented a sensor that detects lead in water. she is next. who knew that phones would start doing everything?
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stuart: now we're up 120 points. why is this? new home sales orders and big ticket items. business spending all very, very strong suggesting that strengthening the economy may force the federal reserve to raise interest rate very soon. ashley: good news is bad news. stuart: good news is bad news. down 117. now this. the inventor of that or this. the sensor that detects lead levels in water. this year's discovery education 3m and young scientist challenge and she joins us now.
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welcome. i hope i got the name right. welcome to the program. great to see you. can you tell us exactly what your invention does? >> yeah. my device is a light detecting tool which detects lead in water specifically faster than current techniques today. i develop my device in my school highland ranch. it uses a disposable cartridge. stuart: in a detects the lead levels, so i can tell you if your drinking water has a high or low or unacceptable level of lead in it. could you use this kind of thing for flint michigan because they've got a problem with it. >> yeah, one of my main inspirations was the flint water crisis. i have not about creating device for this until i saw my parents testing for lead in our water
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and then i realized that i needed to create a device to help my parents make the process faster but for the residents of flint in other places around the world. stuart: can you tell us and i'm not the scientists and our viewers are not either, but can you tell us how it works? how does your device detect the flood levels? >> yeah, my device includes a disposable cartridge which includes bucky paper. ducky paper is a not easily dispersed form of carbon and when i am in the water and my two cats, all i have to do is set it down and i don't need to mess with the device anymore. then i just have to check the status on my salad and it looks like the water i was testing was fake. they have chloride atoms introduced within them so there's blood in the water. it forms lead molecules when it attaches to the chloride.
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then i caused the change resistance. measured i'd included in my device with attachments to send all the data to your mobile phone. stuart: congratulations. that was a great presentation. not only do you have scientific talent come you should be on television. one last question. which university do you want to go to? >> i would like to go to m.i.t. with my interest in technology. stuart: you are in. seriously, congratulations. that is brilliant. flat out brilliant. we appreciate you being with us today coming out lately. >> thank you. thanks for having me. stuart: this time tomorrow, the house expected to start voting on the budget. that will pave the way for current tax cut reform. they need 218 votes in the house goodwill they get them?
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talking to a member of the freedom caucus in a moment. ♪
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stuart: there you go. why not, mix it up. check the big board. we were down 120. now we are down 99. we are still down. a lot of left inside. general electric down 1.5%. 2152. here's the news. morgan stanley taking ge out from there it up -- jody hice,
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member of the freedom caucus, republican from georgia. are you guys in the freedom caucus on board with the tax package 100% no objections, just do it? >> i can't say 100%. we have not taken an official position as a group on a pier to some extent it will be divided. for the most part, all of us want to get to the end goal which is tax cuts, tax reform in this budget is the vehicle to get there. the majority of the freedom caucus would go there but we have not taken an official decision. stuart: i want to talk about the state and local taxes. we hear there is a proposal to get rid of that deduction. if the deduction were eliminated, people in high tax states will be paying a small fortune extra on top of the fortune they're already paying. are you in favor of keeping that deduction or getting rid of it? >> you know, i do not think it
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is right or fair for the american taxpayer to bail out states that are on the verge of bankruptcy and that is what is actually taking place right now with the deduction. most of the states in good shape in keeping their financial house in order. majority of people file a standard deduction. they don't need all the other deductions. this is a controversial issue. chairman brady has been out and about. i'm sure there's going to be some compromise, some give and take on this. is the deal comes out next week will see the details of it. stuart: at the bargaining chip. >> i wouldn't expect it to be bargained away, but i would expect part of the deduction would stay and they will be negotiations to how big a deduction stays. >> i think that's a fair assessment. we will have to see the details next week. it is a bargaining chip and we'll see how it falls. stuart: house speaker paul ryan
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said this morning that the repeal of replacement of obama cared is now off the table for the 2017. would you say about that? >> we can all see thank you to the senate for that. we sent the bill, they were absolutely unable to give 51 votes and deal with it. as the senate even pass a kidney stone in the last 10 months. let's look at it reality. they are making this are making hustle plays dysfunctional. we'll have to go back next year, start over and hopefully get this thing across the finish line like we promised the american people we would do. stuart: i have to tell you there is nothing funny about a kidney stone. >> the context it's probably easier to pass a kidney stone in the senate then it is a piece of legislation. stuart: you've got a problem with republican party in the senate and so does president
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trump. >> they are absolutely basically not getting anything accomplished and it's time they get up and deal with their own internal issues, whatever it is i may start doing what they are called upon to do. until that, we are going to keep putting pressure on them to do it. stuart: always a pleasure. and for being with us. much obliged. there's a big story. i think it's huge. the house intelligence committee is looking at the clintons role in that uranium deal with russia. there is more to it than this. john fund is with us this morning. i'm going to say this number, which is just astonishing to me. $145 million flowed into the clinton foundation charity. $145 million in connection with the russian represent 20% of our uranium. that's an astonishing number. >> beyond the fact is once again
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shows that billet hillary clinton or the bonnie and clyde of american politics, it's all about the money. why should your viewers care? this is part of an ongoing pattern of russian interference, russian subversion of our national security systems, didio said never been approved. the money coming in can't be proven quit protocol but it sure looks suspicious. stuart: plausible deniability. >> what we had yesterday with the dnc dossier is of course a modified hangout. stuart: that's the other scandal. >> yes, that scandal is important for the following reason. what if when the clinton campaign in the dnc paid for that dossier, obviously christopher still went to moscow and assembled that dossier. i know how moscow worked. that is why the dossier so discredited and full of salacious material that never hauled out.
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what if the dossier was then used by the fbi to justify surveillance and unmasking of people in the trunk campaign would have stirred the surveillance net at the fda. what if the 260 cases of unmasking by samantha power, obama's u.n. ambassador was prompted by the dossier, which by the way, after the dnc stop paying for it the fbi offered to pay for more information. it became embarrassing. this compromises the fbi. compromises national security agencies. it is potentially the worst handle since the scandal that begins with w. stuart: you sunday. >> we have lots of unanswered questions. what prompted that?
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was it the dossier? stuart: so the whole thing, the investigation first focused on russia, russia, russia, and then donald trump. but now, this kind of change course and we are veering off towards investigation of the clintons and the fbi and russia. >> we know the trunk people were very. the meeting with russian lawyers which might've been a setup by the way, should never of happened. but there's been no evidence so far of actual collusion. we will await and see what mueller finds out. what we do know is the fbi did not tell congress for five years about the uranium scandal, how the russians were sending people over to try to buy the uranium, knowing they were linked to the kremlin and at the same time eloquence same time eloquence and the secretary of state and taking $145 million she's approving the sale of 20% of uranium reserves. stuart: why has it taken until now to reveal basic details of
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an extraordinary scandal? >> this exposes the bias of the media like nothing else. the media was completely wrong about trump's election. they decided there had to be an explanation. russia, russia, russia. the sources inside the democratic party of the left wing. the rest of it didn't fit so there have to be only one villain in that billet was going to be donald trump and nothing else is paid attention to. now, the evidence is shifting and we'll see. by the way, looked at the other networks. trace elements of coverage. there's no surprises here. this is old news. stuart: "the new york times" and "newsweek" and "washington post" have been covering whose close with clinton to launch this whole thing. they have been breaking stories on the russian uranium deal. >> if you look at "the new york times" today, it's on page 17.
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stuart: we've got a monitor here. the other networks on here. you're right. trace elements of uranium story or the russian dossier. >> we don't know where this is going to lead the way of tons of unanswered questions and that's what the media is for. they haven't even been asking them. stuart: very quickly, that is not illegal, is it? the fact that you revealed the fbi was going to pay the company doing it to continue there, but again is not illegal. >> democrats and republicans. >> but here's the point. what is the legal is that some of this ultimately led to the surveillance of american citizens improperly, in other words, basically giving the fisa court the reason to surveilled when they really didn't have it. putin hooked up stuff.
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stuart: you are digging into this thing. well done, young man. to the markets, please. talk about money. we are looking at chipotle, which is down 14, 15%. nearly $48 down. you know, i have to say they really have not yet recovered from the e. coli outbreak two years ago. two years ago that stuck was a $750 a share. coca-cola has just turned lower. sales of sprite, coffee, tea up just up 7 cents lower. bowling down today and is down six bucks. the dow stocks therefore cost 40 points. it is raising its full-year guidance. doesn't matter. the stock is still down six bucks. vsat all-time high and still is $110 a share. next one. massive releasing the satellite photo revealing the destruction
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caused by massive wildfires across northern california. vegetation in red, burgundy recipe or dark gray. more than 8000 homes burned. fire fighters still try to fully contain the fires. 42 people killed. food stamp usage under president trump down big time. 1.5 million fewer people on food stamps and the inauguration. how about that. we are joined by jordan belfort, the real wolf of wall street next. ♪
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>> i'm nicole petallides victor fox business brief weird shopping online, pretty good chance. a 50/50 chance that you are shopping using amazon. the stock right now down a quarter of 1%. how the u.s. dollars are being divvied up online. forty-four cents of every u.s. dollar being spent online. actually went to amazon. 43.5 followed by ebay, apple, wal-mart. home depot, best buy, macy's, wayfarer, which is less than 1%. we are seeing a growth, 44 cents on the dollar. take a look at the numbers here.
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$452 billion by the end of 2017 will be spent on e-commerce sales, an increase of 16%. amazon's winner up 16% in one year. you owned your car for four years. you named it brad. you loved brad. and then you totaled him. you two had been through everything together. two boyfriends, three jobs... you're like nothing can replace brad. then liberty mutual calls... and you break into your happy dance. if you sign up for better car replacement™, we'll pay for a car that's a model year newer with 15,000 fewer miles than your old one. liberty stands with you™. liberty mutual insurance.
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stuart: uber has had its problems. this may be another one. they now say they will charge you, the passenger a fee if it
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takes the driver longer than a menace to take you out. all of this is meant to compensate drivers who travel long distances for the pickup. it is part of the 180 days of change come a program that went into effect right after the scandals all started. lizzie, you are charging the passenger because the driver takes a long time to get there. doesn't that defeat the object? liz: this sounds like nickel and dining. it's loading on the fees. they don't charge you for their drive time to come pick you out. uber has had a history of problems with drivers. drivers feel like they are undercompensated. maybe that's way to keep them quiet. stuart: people actually get in the car is coming up between the driver and the customer. their customers are the drivers so they are trying to make it more palatable because especially in suburban areas if you go out there and get a cancellation, these drivers are not making money they thought they would be making but it
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could hurt them in the long run because they say your nickel and dime me today. stuart: a year ago or less the value of uber was around $70 billion. not a publicly traded company, but some shares were sold privately in the price of the shares sold privately with $70 billion total value. you can get for 70 billion now? trade for now, neither do major investors fighting with uber about what was going on. stuart: a lot of money has gone into lift. down 100 points. it is rock 'n roll markets is what we've got. trade for a couple of analysts have said it has a disappointing. chipotle and amd. are we surprised that there is a disappointment because we've had an absolute slew of very
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positive economic news today. also in the housing market, new home sales and expectations, all of that we theorize whether right or wrong is this would perhaps push the fed to raise rates at a more faster clip which is ultimately bad for the market. i don't think that rader is because so far it's been pretty solid. stuart: general motors, the donald, bowling, co., the set, of them pretty good. cross-section of companies have done pretty well. maybe the economy has shown all their strength and as you said, ashley, maybe the fed therefore raises rates, down goes the markets. 100 points off a 23,000 index is not exactly a selloff. can we see general electric for a second, please. we paid a lot of attention to ge recently because its plunge. the price of the stock is going down at 21.52. a lot of people say that is a
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screaming buy. the issue is whether they will continue to pay a 4% dividend yield. >> may be that more of a screaming buy if they cut it in the stock goes down further. i hate to say it this way an iconic american brand has been around for decades. the breakup value of ge. it continues to go down. ashley: people say it's worth were broken up then as a whole. stuart: one more. can we see bowling for a second, please? down despite a good earnings report. the lost tanks 50 points off the dow industrials. therefore, have to dow's losses accountable for one stock and. breaking news, check this out. 3-d moments ago, and make america great again with me. i didn't know that. he's watching.
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rotten picture. moments ago we teased jordan belfort, the wolf of wall street. please stuck in traffic. we hope the president -- after this. hi, i'm the internet! you know what's difficult?
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go long™. ♪ stuart: one thing we try to deliver everyday it is clarity on the issues. i think we need a little bit more clarity on the issue of kay's. the method by which millions of people save for their own retirement. if you remember, there was a proposal said chechen that would restrict the amount of money that goes into four o. one 401(k)s can make thataway paid for tax cuts. kevin brady said today that he wants people to save more and start saving earlier in the 401(k). for some reason that was taken as a negative, as if we would restrict what's going in the 401(k)s. blake irving, come on in, please. i am reading, you may disagree with me. i am reading my kevin brady said as a positive for 401(k), not
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indicated. where am i going wrong? >> i'm laughing because if you come for clarity on this one, we are still trying to figure out where this whole thing stands. sunday, there was this article that came outside the media is looking at the structure of a 401(k). the president came out on monday say no changes whatsoever. that's the president's plan. now you've got brady saying the following today in a speech earlier. he said, we think and tax reform we can create incentives for americans to save more and save sooner. we are exploring a number of ideas in those areas. he's trying to say, halo, these are incentives. not online as they need revenue streams here. the president saying one thing, kevin brady saying another. i guess it's the shoulder shrug of the og. >> if you want to save more and start saving earlier, i see that as a positive. >> however, we have senate
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finance chair orrin hatch said he doesn't agree with the president saying they suffered. orrin hatch saying he's open to changes looking at anything, possibly tax the 401(k) to pay for border tax cut. >> as soon as the market started to take, someone e-mailed me saying keep an eye because in brady's comments came out, the 401(k) was back on the table so to speak, market started moving south because that would take money out of the market. >> i was going to say brady said in that speech that if the budget passes through the house tomorrow, they would have details one week from today at november 1st episode they still have time to work it out, but very clear here negotiations. >> this whole fight started when the gop republicans are talking about 401(k)s to pay for border tax cuts. this is how they wanted to budget reconciliation.
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bob corker is a fiscal hawk. he went to tax cuts paid for. the president treated out, hey, don't judge 401(k)s in the site exploded. stuart: kevin brady's comments on 401(k)s were a positive. congressman brady will be on the show tomorrow at this time and we will sort it out. blake irving, thank you indeed. more "varney" after this. ♪ [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock.
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s. . . .
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stuart: really have to show you this again. the president tweeting moments ago, make america great again. there is my picture right in the tweet. it actually, the president tweeted out video of me. i appeared earlier this morning on "fox & friends" on the fox news channel. i was saying that the greatest story never told is the story of the stock market and the economy
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doing extremely well, getting no coverage. the president was watching, picked it up, retweeted that video to me now. or to everybody, actually. 33 million people. neil cavuto. it is yours. neil: well, ladida. funny, president tweeted out stuff about me too. i just can't repeat it. i decided best not to. thank you, buddy. i appreciate it. there we go. whatever the president is tweeting now, he is is focused like a laser beam trying to get the tax talks concluded and tax cut done hopes by the end of the year. with the dust-up with republican senators flake and corker, you wonder whether that could spill over into nastiness might carry over into the vote. both gentlemen say they will not happen. they will vote on the tax package overall merits. this is

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