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tv   Varney Company  FOX Business  April 15, 2019 9:00am-12:00pm EDT

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slogan is no taxation without relaxation. that's what we did. maria: love it. i'm a southern girl and it's got to match what you're wearing. if it ain't the shoes it's got to be your kona ice. >> these are great. we started in 2007 and we've got over 1200 franchises now across the country. i will tell you, you had a guest on about a year ago and they were a food truck and you said you guys have almost 20 franchises and i stad ood up in office and said maria, i have a thousand. i want to be here and share that with you. maria: congratulations, tony. happy tax day, everybody. "varney & company" begins right now. ashley webster in for stu today. ashley: good morning, maria. i'm ashley webster. stuart back tomorrow. it is tax day. yuck. here is the big story. the battle over the border
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heating up. president trump not backing down from his proposal to place illegal immigrants in sanctuary cities but democrats slamming the idea with house speaker pelosi calling it cruel and despicable. and the president stepping up his criticism of the federal reserve tweeting this over the weekend. if the fed had done its job properly which it has not, the stock market would have been up 5,000 to 10,000 additional points and gdp would have been well over 4% instead of 3%. with almost no inflation. quantitative tightening was a killer. should have done the exact opposite. that from the president to the fed. later this morning, by the way, the president heads to minnesota, where he will be talking the economy and tax cuts. if he makes any comments before leaving, and he usually does, you will see them here first. meanwhile, to your money. the market expected to be down slightly at the opening bell but it's a big week for earnings with two more banks reporting profits today and oh, yes, netflix tomorrow.
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we've got a lot to go at this morning. "varney & company" is about to begin. ashley: how about this. tiger woods winning the masters for the first time since 2005 and there was a big payday for one lucky gambler. tell us the story. susan: one guy bet $85,000. his payout, $1.2 million. 14-1 odds tiger woods would win the masters, his 15th major, fifth masters. the greatest comeback of all time? i would say it's pretty up there, especially after four back surgeries and people thinking this must be the time he will retire and will he ever win again. guess what, he's only three behind jack nicklas. he's 43 years old. there are some questions.
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ashley: don't count out this guy. susan: especially when he's been in contention the last three sundays in majors. tiger is roaring back. ashley: it's great for golf. susan: great for nike. $22 million. ashley: amazing stuff. loved every second of that. now, to the immigration and the battle over sanctuary cities. president trump floated the idea of sending illegals to sanctuary cities. here's how new york democrat jerry nadler responded. roll tape. >> the president has no right to spend the money appropriated by congress for other purposes to ship immigrants all over the country. if someone requests asylum, he should be considered, there should be a place for that person to stay while that asylum request is being adjudicated. nor is it right for the president to use immigrants or people who are claiming political asylum as pawns. ashley: joining us now, rnc
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spokesperson liz harrington to talk about this and other issues. good morning to you. how does the border fight play with the base? i would imagine pretty well. >> well, president trump was elected to solve this problem and he and the republicans on capitol hill are the only people that appear to be interested in actually fixing it and governing it. so here we have the democrats who were refusing to come to the table and to fix these loopholes so if they are refusing to come to the table, all the president is asking is for them to live by their self-professed values. they are the party of open borders. they are the party of sanctuary cities. for gavin newsom, governor of california, he promised in his state of the state address earlier this year that california would be a sanctuary to all who need it, and now he calls those same policies immoral and un-american. tells you all you need to know. he's not interested in actually fixing the problem, he's only interested in opposing this president. ashley: to the president's point, i think creating sanctuary cities is just an invitation to people to come
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here illegally. so what's wrong with taking these people who have come all the way up on the promise if you come to our city, our state, you will be protected, even though you are breaking the law? i think they have a duty to take care of these migrants personally. what do you think? >> this is what they have promised and look, the solution is simple. congress needs to come to the table, they need to fix the loopholes and fix this flores agreement that their hands are tied in the administration. they can't do anything other than this. the system is overwhelmed. everyone knows it. even obama administration officials are admitting this is a crisis. i'm glad democrats are finally admitting after months of saying this was a manufactured election campaign issue, when it wasn't, they are finally admitting that it is a crisis. but they need to come to the table. remember during the shutdown, they said we'll negotiate once the government's back open. where are they? they're not at the table. ashley: very good. very quickly, liz, trump
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campaign raised more than $30 million in the first quarter. that's more than the top two democrats combined. i would imagine no collusion, the border issue among many, are helping them bring those donations in. >> our base is energized. rnc also took in a record $45 million for an off-election year because people are seeing that the progress that we have made in the past three years and the promises made, promises kept, jobs are coming back to this country, it's tax day which is typically a terrible day for americans, but look, it's actually better as the average american got $1200 back, our tax cut. there's a lot of things on the president's agenda that he's promised and the economy is booming. we are just so happy about that and energized and ready to go. ashley: liz, stay right there, if you will. we will get back to you in just a minute. goldman sachs says donald trump will win the election next year and why? because of the economy. joining us now, moody's
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economist john lonski. do you agree? >> yes, i do. if goldman sachs is correct and we have a 3.3% unemployment rate close to election day, november 2020, trump will be re-elected. unless he does something to prevent his re-election. we don't know about that. ashley: well, and that's the question. any chance the economy can falter? i guess -- >> here's the problem. ashley: they talk about a recession next year which could come at a bad time for the 2020 election. >> well, here's a scary statistic. over the past 50 years, the unemployment rate has been at 4% or lower only 6% of the time, 6% of all those months. so the odds are since we now have a 3.8% unemployment rate that it's going to be higher than 3.8% a year from now and so on. but i still think the economy still has the wherewithal to keep growing, profits keep growing, companies keep hiring people, the unemployment rate does not rise, and if that's the case, we have a 3.3%, 3.4%
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unemployment rate, that favors trump's re-election. ashley: the critics say well, the stimulus from the tax cuts, that's already going to fade away by next year. you don't think so? >> it's not going to fade away entirely. i think the important thing is again that the labor market continues to improve and given the relative tightness of the labor market, the fact that consumers are still spending money, the fact we are beginning to see a rejuvenation of home sales in response to lower mortgage yields, that bodes well going forward. ashley: also, we can get trade deals done with japan, the eu and of course, especially china, get that out of the way, more confidence for business. >> that can only be a positive. i'll tell you, if it wasn't for trade friction, the u.s. economy would have grown by at least 3% in 2018. ashley: wow. we have to leave it right there. john, thank you very much. good stuff. let's get back to rnc spokesperson liz harrington. liz, has the president done enough? we heard from john, the economy is humming along very well, thank you very much. if we can get these trade deals
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done especially with china, that could be the next leg up. >> absolutely. we are going to get better trade deals just like president trump promised and look, just because the media chooses not to cover the booming economy on other networks doesn't mean it's not happening and doesn't mean that the president isn't out there talking about it and he's going to minnesota today for a roundtable, to talk about the incredible tax cuts and what's happened in our economy, just like you were saying home ownership is up again, people are buying homes. the american dream is back. wages are rising for the first time in a decade. actually, for the lowest, the bottom 10% of americans, they are seeing the biggest wage growth at 6%. so that's all great news. the president continues to talk about it. ashley: and he should. it's a big issue certainly for 2020. liz, thank you so much for joining us. really appreciate it. >> you bet. ashley: take a quick look at the stock futures heading into the open. the very definition, i like to say, flat, up two points on the dow. just half a point on the s&p.
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just down slightly on the nasdaq. a very much cautious look at the futures right now. premarket, two big names you know reporting profits this morning. citigroup and dow component goldman sachs. goldman profit, by the way, fell 21% from a year ago as you can see in premarket, that stock down nearly 2%. that will be a drag on the dow. a top aide to hillary clinton's 2016 presidential bid now leading the charge to get justice brett kavanaugh fired from his teaching job at george mason university. we are on that one. democrats still pushing for president trump to release his tax returns. the head of the tax writing committee setting a new deadline for that to happen. and a proposal to increase the gas tax gaining momentum across the country but the head of one conservative group says that would be a huge mistake. he will make his case next. "varney & company" just getting started. ♪
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ashley: google is disbanding
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another panel related to its work with artificial intelligence. what's this? liz: it's a panel in the uk that was going the deal with health care. here's the thing. lot of skepticism, lack of information, complaints about lack of independence on the part of google when it comes to harvesting people's health information. so people in the uk are saying wait a second, what are you going to do with this health information? you going to develop better health apps so you can make money off of it and watch this, google has purchased the uk-based ai research unit called deep mind. deep mind was accused of basically accessing 1.6 million uk residents' health information without their consent. so that's part of this project. when people in england saw that google was effectively going to be running, you know, doctors detecting kidney disease at their mountain view headquarters, that's when people
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in the uk said hey, wait a second, maybe this isn't in their best interest. that's what's interesting here. what are they going to do with the information, build more powerful apps? we are waiting for google to come forward. ashley: very interesting. getting right on it in the uk, aren't they. thank you. staying on big tech, lot of concerns about tech companies censoring conservatives. we know that story. our next guest says the federal government should not be the social media police. joining us, tim phillips with americans for prosperity. tim, okay, make your case on this one. >> we do not want government, the heavy-handed government picking winners and losers by saying this company, they have been too successful, they have a product that people really like and want to use, we are going to whack you on the arm and take back power by breaking you up. that's not the answer to free speech issues or privacy issues is to have the heavy hand of government pushing in and breaking up a company that's
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been successful. sends a terrible message to other companies and to entrepreneurs trying to make that next great product. ashley: but would you agree these big tech companies, especially with information that liz was talking about, our personal information, have kind of lost control of the privacy aspect of this. there is almost a daily if not weekly round of apologies from facebook or one of the big tech companies saying yes, yes, it was an algorithm, hackers got in, we don't know how this happened. at some point, people are going to say you have to have retribution for what you've done. that's where the government comes in with fines. is that wrong? >> i think that privacy issues, shining a light often is the best way to alert people that there's danger there, but americans for the most part, these are free products, facebook, google, they're free. people are choosing them because they are so good and they make -- ashley: don't companies have a responsibility to protect users? >> they have a responsibility to protect, they do, but again, we want to be very careful in
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giving the government such a strong refereeing role because the government that can begin taking power like that, it can do a lot of other things you don't want. those who think government is this perfectly even-handed vessel, it's not true. they always have agendas. those who pay most -- careful what you wish for. the private sector, freedom of -- it's not perfect but it's better. ashley: want to get on to this subject. president trump wants to pay for infrastructure with a gas tax. you say no way. you are running a big ad campaign against it. why? >> 25 cents a gallon is what they are proposing. ashley: over five years. >> over five users. but in some states that would mean a full dollar of the total cost of your gallon of gas is government taxes. that's terrible. it hits the working poor, senior citizens on fixed incomes, single moms trying to get the kids to practice for little league. that's who it hits the hardest. it's not the right thing to do. the idea that government isn't
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spending enough money, it's laughable. those guys are -- to say they spend money like drunken sailors is giving drunken sailors a bad name. come on. they have enough money. use it better. ashley: critics will say we haven't had a gas tax hike in 25 years. the current tax doesn't even cover what's being spent on roads and transit just to maintain the current levels, let alone improve the infrastructure. >> the key answer is to have these politicians in washington in both parties in congress, this is primarily congress, congress has the power of the purse, not the president, and the idea is for them to do a better job of prioritizing what's important. you know about a third of the money we give for transportation projects at the federal level doesn't even go to roads. it goes to bike paths and environmental projects and things that have nothing to do with priority road projects. there's enough money, they had a trillion dollar deficit last year. they spent more than they have spent on discretionary -- ashley: the roads are still terrible. >> yeah. they need to prioritize. these politicians need to actually fix the roads.
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they've got plenty of money. they are blowing through the spending caps every year. come on. these guys can do it. ashley: bone-jarring potholes out there. tim, thank you very much. appreciate it. let's take a look at the futures for you. a little over ten minutes from the open as trading is essentially flat. the dow, as you can see, up two points. s&p unchanged. the nasdaq slight sli lowly low after months of anticipation, "game of thrones" final season premiered on hbo years, decades, but the company's streaming service apparently having issues handling all that traffic. that's not good. the sites crashed ahead of the debut. what a terrible time to do that. we are on it. we're carvana, the company who invented
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ashley: fans of the much-awaited season premiere of "game of thrones" were disappointed when they tried to watch on demand. what happened, susan? susan: i would have been very upset if i wasn't busy driving back from boston last night. basically, hbo now and hbo go went down just ahead of the highly, highly hyped season premiere of the final season of "game of thrones." you had to wait two years for this episode, so people were eagerly anticipating this. only six episodes in this final season. ashley: what happened? susan: what happened in terms of the actual --
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ashley: why did the system fail? susan: well, they haven't detected it just yet but you can imagine volume was probably at play. last time they had the system go down was "true detective" in january. who do you think is going to win "game of thrones"? ashley: i don't know. former hillary clinton campaign staffer's leading the effort to get supreme court justice brett kavanaugh fired from teaching a summer course. liz: for george mason in the uk. it's the former hrc2016 press secretary. here's his quote. brett kavanaugh has been credibly accused of sexual assault by multiple women. their allegations have not been thoroughly investigated. his confirmation to the scotus does not absolve him of guilt and he should not be given a platform to teach. we urge george mason to fire kavanaugh and started a petition at george mason, 5,000 signatures already. this group led by brian fallon
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is backing the ouster of brett kavanaugh at george mason. ashley: it goes on and on and on. liz: summer teaching course there. ashley: thank you. could say something, but we won't. let's move on. the bell about to ring in five minutes from now, and it looks almost exactly flat. what's going to move the market today? we will talk about it when we come back.
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ashley: president trump stumping in minnesota later today. he will, of course, be talking tax cuts on this tax day. joining us now is white house economist kevin hassett. great to see you. thank you for taking the time out. as i just say, today is tax day but not all americans feeling the love from the trump tax cuts. some having to pay more than expected. does the president need to do a better job of selling the tax plan? he will do that in minnesota, but does he need to really get out there and ram home the point that the tax cuts overall have been good for this economy? >> well, i mean, they really obviously have been good for the economy, so you know, it's a strong position to begin with when the facts are on your side and when i was looking through the facts to get ready to speak with you, the two that really jumped out at me were one, if you go back to 2016, the congressional budget office looked ahead to 2018 and they said we were going to create about 50,000 jobs a month in
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2018. in fact, we created 206,000 jobs a month. that's almost two million more jobs in one year alone and it's really because of the tax cuts. the second thing is that in the gdp release they tell you what disposable income is for families and the disposable income for families in 2018 went up by $2,300. so there's really, really good news out there for americans. we fautalk a lot about a bunch e but with that news, the president has a lot to talk about. ashley: do you think that message gets lost a little bit from obviously members of the democrat party saying it's a tax cut for the rich, the working person doesn't get what he or she is supposed to? do you think the president needs to do a better job of getting out there and explaining what you just explained to me? >> well, the president is great at explaining things but the thing i would ask, actually, you always ask tough questions, but get one of the democrat science deniers and ask what's your
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theory for why we got 206,000 instead of 50,000 jobs in 2018, why did that happen, was it just miraculous luck, did martians come down and give us strong economic growth, what's your theory for why that happened. i haven't heard one yet. maybe you have but i haven't. ashley: i think it was the planet pluto. we will move on. listen, you believe the gdp will grow at or above 3% for the next five years, did i read that correctly? >> on average, that's right. yeah. that's right. ashley: you do believe that? >> i sure do. yeah. and there's a real simple way to think about it. remember in 2016, when president trump was elected, we had just come off of eight years where we lost 200,000 manufacturing jobs and everybody was locating their plants overseas because we were the highest corporate tax place on earth. now we are an attractive corporate tax place and factories are coming home but that's not something that happens overnight. the adjustment to the new economy we are going to have because of the strong corporate tax climate is something that's a three to five year thing. the boom you saw last year is
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something that absolutely should continue. ashley: should we perhaps see better than that, 4% based on all the things that are happening to the economy that you have just talked about? >> you sound just like the president when i'm talking about why 3% looks so good. he wants 4%. i can tell you this. it's pretty likely we will get 4% this year lick ke we did las year but the fundamentals, we are looking at a 3% year. we have 700 pages in the economic report why that's our forecast. i feel pretty comfortable with it. ashley: goldman sachs saying mr. trump is going to win based on the strength of our economy in 2020. i guess that's playing into what you're saying but you agree with goldman sachs? >> you know, again, i'm not a political scientist but ray faire, a nobel winning economist, says if gdp is strong the incumbent wins. i believe gdp will be 3% next year. i think if that happens, ray
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faire would tell you the incumbent would win regardless of which party. the president has that strong a growth rate, they are likely to win. ashley: which makes next year critically important. you don't see any recession on the horizon, maybe mid next year or anything like that? >> no. i think it's highly, highly unlikely. the way to think about it is that with all the factories coming home, the unemployment rate in the 3s, wage growth so high, then you can expect demand to go high, too, because everybody in the cea, we put up a chart the bottom 10% of income distribution saw wages grow 6.5%. so that 6.5% growth in wages is going to lead to 6.5% growth in consumption for those folks and that's a strong underpinning of a strong economy. ashley: let me ask you this. president trump going after the fed yet again, says the market would have been up 5,000, 10,000 additional points if the fed had done its job. this was the tweet here. the fed, as you can see right
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there, says was raising rates really a killer as the president says, kevin? do you agree with what his assertion is, if you didn't tighten, if you didn't raise rates, this market would be 5,000 to 10,000 points higher? >> you know, i think the president's supporters expect to hear his opinion about every topic including the fed. it's a very important topic. but as the cea my job is not to comment on federal reserve policy. i can say if you look at what happened last year in december, did seem there was a lot of market uncertainty that has subsequently been resolved. but i have to leave the fed alone. ashley: you are very diplomatic. that's why you're at the white house. finally, any update can you give us on china trade talks? it seemed like treasury secretary was kind of intimating or in the final lap now. is there any signs of progress? >> yeah, you know, i used to run the relay race, 4x400. we are heading towards the final lap. i think it's not the 4x100, it's the 4x100.
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we have to hand the baton to the last guy, hope we don't drop it. ashley: don't drop the baton. kevin hassett, as always, thanks for joining us. appreciate it. quick check of the big board. taking a look at the dow 30, we expected a pretty flat opening and that's pretty much what we got. same number of stocks gaining as falling, as you can see. the dow off just about 11 points. take a look at the s&p as well. same story, just up slightly slightly, .8. let's take a look at the nasdaq. the tech-heavy nasdaq, see where that is. up to 7992. a flat opening to the week. goldman sachs and citigroup reporting profits today. joining us now, as you can see both those stocks, and in fact goldman getting hit again, down nearly 2%, that's a revenue miss. we will get to that in a minute. citigroup down about a quarter of a percent. joining us, jeff sica keith
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fitzgerald in seattle, liz macdonald and susan li. big week for earnings but some of wall street say profits will be down compared to last year. i guess, jeff, the question is what's a win when it comes to earnings on the s&p? what's the average down about 2.3% year over year but those comps are very hard. >> yeah. keep in mind what counts the most is not necessarily the number that's reported because i think there's a pretty general opinion that we're going to see lower earnings this quarter, maybe the lowest earnings that we've seen in a couple years, so from that standpoint, there's a known factor there. but there's also what the ceos say going forward. we are seeing margin compression. we are seeing concerns over the trade war, potential trade war, and we are seeing a labor for force -- susan: contraction?
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>> contraction in the labor force, exactly, thank you. that is creating higher costs for these companies. liz: you know what's really interesting, the market watchers thought that the economy was going to go in the tank because of the government shutdown and consumer spending. wait, wait, wait, consumer spending was going to be hit by the snowstorm, the shutdown, weaker tax refunds. that didn't happen. the dow still rocketed higher. it's interesting watching kevin hassett, i was thinking he's literally standing in the eye of the tornado watching this in so many ways but layoffs are lowest since 1969, we've got serious green shoots happening in the economy. consumer spending is still coming strong. auto sales are coming in pretty okay and manufacturing is not doing so bad. susan: we still saw the best quarter for stock market going back to almost 1990s if you want to throw in april as well. so yes, right now we have the ratio of those forecasting a negative guidance for this quarter because the positive ones at the highest since 2016 which the last time we saw an
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earnings recession which is back back negative earnings. but when you set expectations so low, of course it makes it easier to beat. bank of america says -- even morgan stanley says there will be an earnings recession, says there's a base case because there is such low expectation that things might be better than expected. ashley: what do you say, keith? that things might be better than expected? i think we are expecting a rough first quarter but it's not all bad, is it? >> well, here's the thing. remember how earnings game is played. it's like betting on a horse race after you know the results. that's what analysts do. they set out a bar, raise it, lower it, if companies beat it they are rewarded, if they don't, they're not. again, if you are looking at the guidance, that's the real piece. for all the points you guys just mentioned, the key is there is still very real growth and the best ceos continue to tap into that. we are seeing that already. ashley: take a look at disney and netflix, battle of the streaming services shaping up with disney announcing disney
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plus will cost $6.99 a month. not bad. its stock hit an all-time high on friday. keith, who wins this one? disney, netflix or can they live together? >> well, a, i think they can live together but they are playing different games, because disney is out in the coke versus pepsi, trying to alter their content. most of the children's content is in fact failing. they are spending a fraction on new content that netflix is and the stock's bid up. netflix, on the other hand, has a global model, cheap customer acquisition, they are spend three, four, five times what disney will be and disney's numbers i think are extremely aggressive. you are talking about 70 million house holds by 2024 which is 50% of what netflix has had and they have had a monopoly on streaming. disney is ahead of itself here. ashley: you have the family friendly disney, then netflix has pretty much everything else. they can live together, right? >> yeah. this is the beginning of an epic battle between who owns the most content which is disney and who owns the most streaming content which is netflix. disney's anticipating, and i
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agree, they are anticipating 100 million subscribers in the next five years. this creates a whole new paradigm for entertainment. what i see is that disney first of all has to create original content and netflix has to maximize -- has to, as keith said, has to maximize the revenue they get from original content. but there is room for both. the companies that are going to be affected are companies like hbo and hulu, that these two may dominate the industry. susan: let me ask you this. do you think disney and netflix, should they be valued at basically the same market value? when you look at disney which is so diversified, they paid $71 billion for the fox assets, they have theme parks, they have television. they are almost similarly valued. liz: netflix's off-balance sheet debt loaded on with shareholder equity. >> one thing producers love working with netflix because they are giving producers a lot
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of -- ashley: sorry to interrupt but they are shouting wrap in my ear. thank you, everyone, for being here. keith, jeff, thank you very much. quick check of the big board. just 31 points on the dow at 26,378. going down even a bit more. down 34 points. to politics. bernie sanders holding a town hall tonight in pennsylvania. by the way, you can catch it on the fox news channel. sanders is trying to woo trump voters in rust belt states. should president trump be worried? we will talk to a trump 2020 adviser in the 11:00 a.m. hour. we will also talk to kris kobach, top contender for a possible immigration czar position. what does he think of the president's proposal to send illegal immigrants to sanctuary cities? we will get his take later this morning. in the next hour, the president will be heading to minnesota for an event on taxes and the economy. if he makes any comments as he leaves, which he likes to do, you will see them here. but next, democrats on capitol hill setting a new
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deadline for the irs to hand over the president's tax returns. why doesn't trump just release them, get it over with? we will ask a former white house official, next. some things are out of your control. like bedhead. hmmmm. ♪ rub-a-dub ducky... and then...there's national car rental. at national, i'm in total control. i can just skip the counter and choose any car in the aisle i like. so i can rent fast without getting a hair out of place.
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ashley: quick check of the big board for you. the dow now off about 46 points at 26,364. check best buy, the company naming its first female ceo. she will take over the top job at the chain. the stock itself just down slightly at $73.39. the chairman of the house tax writing committee has set an april 23rd deadline for the white house to submit six years of the president's tax returns.
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joining us now is raj shah, former white house deputy press secretary under president trump. thanks for joining us this morning. >> thanks for having me on. ashley: this is a story that just won't go away. should the president just try and take care of it and say here you go, have at it, then we can move on? >> i don't think so. look, the president has said for years now that you know, he is under audit and won't release his tax returns until that audit is completed and i think what the democrats in the house are doing, what chairman neal is doing is really brazen. it's really egregious to use any authority that house democrats have to try to pass legislation and investigate matters for passage of legislation to then go on a taxpayer financed fishing expedition on the president's personal finances. it's an abuse of power. the chairman of the committee, chairman neal himself, has repeatedly told media outlets
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that he has disclosed his tax returns in the past. that's a lie. he hasn't done that. i think chairman neal understands that americans just like himself enjoy the privacy of their own tax returns, to just throw subpoenas around left and right at people he doesn't like to try to get them to reveal their private financial information is wrong. ashley: he's under no obligation, either. next one for you, it appears the media's narrative on the border issue has changed. first the president was jeered for calling it a crisis. now it seems that the critics are embracing that characterization. even jeh johnson, obama's former department of homeland security secretary, said quote, we are truly in a crisis at the mexican border. i think he said that on cnn. they must have choked on that one. it does appear the narrative is changing. >> it does. i think the media has been really slow to wake up to this crisis. it is a significant crisis. you had 100,000 people being
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apprehended at the southern border, that's an enormous figure. it overwhelms the system. you had over the last three to four months the media spending a lot more time talking about, you know, the mayor of south bend, indiana who is running for president with a population of 100,000 when that many people are being apprehended at the southern border. you know what, it's better late than never but i think the media has a lot of catching up to do to inform the american public about what's going on, why this is a crisis, and you know, what solutions are out there. ashley: very good. we have to leave it there. raj shah, thanks for joining us this morning. much appreciate it. >> thanks for having me. ashley: now to the retail ice age. store closures appear to be accelerating this year. liz: it's wild, it's really interesting, we are just about halfway through april, 6,000 retail stores, already. on track to surpass last year. what we are looking at right now, we know the change in the
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way people shop but what's coming on strong are the discount stores, the dollar stores, the chains like tj maxx and we are looking at the stores that are succeeding with brick and mortar, there's an internet strategy, but stores that are failing look like they did not have an internet strategy. payless, bonton, toys "r" us. payless -- ashley: all the stores you find in the mall. liz: exactly right. either they overbuilt or didn't have an internet strategy. people are certainly changing the way they are shopping. this is not recession-driven. it's underlying trends in the way people are shopping. ashley: too slow to react to the online threat. thank you very much. let's take a look at the dow 30 for you as we get a new week of trading under way. the dow off 57 points now. we were thinking it was just going to be flat. we have some downward momentum, as you can see. down at 26,356. one company is on a mission to make israel a hub for food technology. the company's founder is going
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to tell us how this new initiative could be used to help solve world hunger. we'll be right back. ♪ ♪♪ ♪♪ ♪♪
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ashley: quick check of the big board for you. the dow, down slightly, down about a quarter of a percent at
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26,351. down 60 points after about 22 minutes of trading. take a look at boeing and american airlines. american says it's canceled all 737 max flights through the middle of august. that date keeps getting pushed back. something a little different for you now, though. let's move on from that. you can see boeing and american moving lower. we are going to tell you about a company in jerusalem that's working on making israel into the silicon valley of food technology. joining us is erol with jerusalem venture partners. he's been here before. fascinating guy. explain to me, welcome, by the way -- >> thank you. ashley: -- what is food tech accelerated? what is this about? >> so you know that israel is the technology hub and you know that it's an agricultural hub. i was born in a kibbutz. now agricultural and technology are coming together to change the way agriculture is being
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used and to change food categories, because -- ashley: what does that mean? >> our daughters and our sons are not agreeing to eat the same food with that much sugar, that much starch and the world in terms of protein strategy needs to change its position because whether i love meat and there's some vegans but we cannot continue to slaughter 50 billion cows because the agriculture of the world is serving the cows rather than the humans. ashley: what does this do? does it help develop new crop yields or how to grow crops differently using different technologies, drones, maybe? >> exactly. so first of all, there is smart agriculture. we are using the same ideas of drones, sensors, artificial intelligence, to know the status of your field, and you know there's a company who is our partner who is doing drip irrigation. remember when you use very precision irrigation. well, now it needs to be in all categories. but also, food categories. you know, you need -- some
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people want to have yogurt and they cannot have the milk because of lactose intolerance. there's a company, you know chick peas, a company in israel led by two women which are developing the world's most advanced protein from chick peas, 70%, 90%, you can put it into your yogurt, you can eat yogurt and enjoy it, and you can be lactose intolerant. ashley: taking a step back a little bit, you are also helping to really boost entrepreneurship in new york city, in this country, through tech startups. you are creating your own space. you are doing cybersecurity here. but you are also branching out, right? >> exactly. we are opening a 50,000 square feet hub downtown in soho on broadway and grand, where you will have a lot of entrepreneurs in a.i. and cybersecurity protecting new york's banks, protecting the hospitals,
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protecting the smart city. there's a company that started small which is doing the leading software in the world for anti-money laundering against terror organizations and drug traffickers, and they are doing it by finding it because the bank can't always find it. so these kind of things are happening and what we are saying to new york, if you want to give the west coast a run for its money, then partner with israel. if the west coast is the technology hub of the u.s., new york can become the technology hub of the world. ashley: why not. fantastic stuff. thank you so much for being here. >> thank you so much. ashley: very inspiring. get out there and do it. thank you. okay. ilhan omar's 9/11 comment controversy shows no sign of ending. she says president trump is putting her life at risk after he tweeted a video showing her remarks and footage from the terror attacks. former navy s.e.a.l. rob o'neill joins us on that in the next hour. plus we are waiting for the president to head to minnesota where he will be holding an event on taxes and the economy.
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we expect him to talk to the media before leaving, before getting on marine one helicopter. if that happens, we will have it for you. more "varney" coming up next. how do you gauge the greatness of an suv? is it to carry cargo... or to carry on a legacy? its show of strength... or its sign of intelligence? . . you've never seen these offers. lease the gla 250 for just $379 a month at the mercedes-benz spring event. hurry in before april 30th.
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ashley: coming up to 10:00 a.m. on the east coast. 7:00 a.m. out west. i'm ashley webster. stuart will be back tomorrow, i promise. big hour coming up. president trump heads to minnesota this hour holding a big tax day event. we expect to hear from the president before he leaves. he likes to talk to those cameras. first blake burman joins from us the white house. blake, what is on the agenda for the president today? reporter: hi, ashley. he will be leaving the white house later this hour. will be headed to minnesota as you mentioned, the minneapolis area. visiting a trucking and equipment facility there to talk taxes on this tax day on 2019. here is the issue for the president independent analysis show more americans than not will benefit from the new tax code. the first time americans will test out the new tax code.
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however public polling shows more americans than not do not approve of this new tax code. the white house top economic advisor larry kudlow spoke with him out on the south lawn, north lawn earlier today, asked him whether or not there is aer is exception problem. this is his response right here. >> i would say americans approved of a prosperous economy which frankly has been rebuilt by president trump's policies. that's the way i would phrase that. reporter: that is kind of the way, ashley, trying to message this on tax day, 2019. brings up questions about president trump's own taxes. the white house has yet to say whether or not the president filed those or not. ashley: blake burman in a hurricane down at the white house. port port hurricane tax day. ashley: blake, thank you very much. look at the big board for you. we're getting the week going.
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off 38 points on the dow. 26,376. more big banks by the way reporting earnings. citi, goldman, sachs swab, most of them lower. look at boeing dragging on the dow again today. american airlines says they expect flight cancellations now into august as a result of the issues with those 737 max jets. boeing off, just under 1%. still a drag on the dow at 377 on boeing. now this, president trump taking on the federal reserve. again, look at this tweet, quote, if the had had done its job properly, which it has not the stock market would be up 5000 to 10,000 additional points and gdp would have been well over 4% instead of 3% with almost no inflation. quantitative tightening was a killer. should have done the exact opposite. that from the president talking about the fed. joining us now danielle
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dimartino booth, quill intelligence ceo, by the way, a former advisor to the dallas federal reserve. danielle, thanks for joining us. is the president's analysis accurate? does he have a point? >> well you know it is very hard to say. look the stocks are obviously near their all-time highs. to suggest they would be 30% higher than where they are today if the fed was rolling out what he said, effectively is quantitative easing of the so the president is alluding to crisis era fed policies that were last in place when we thought the world was melting but he might also be looking at some different historic entrails. you and i have been around long enough to know that quantitative easing to infinity, qe3 so to speak was rolled out in december 2012. maybe the president is looking back at history, saying, gee, if one election cycle could have the benefit of the fed growing
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its balance sheet, gee, why can't i? it is hard to say where he is coming from. again, this, we've got initial jobless claims at the lowest level in a half century. clearly the economy growing at a faster pace. to suggest stoxx should be 30% off the all-time highs, you have to sit back and scratch your head, unless you're looking back what the fed has done for prior administrations. ashley: does he have the right to say this, danielle? the european central bank president mario draghi saying that he is worried about the independence of central banks in particular and he didn't name the united states but he certainly inferred the united states. i don't really care what mario draghi but at the same time doesn't the president have a right to say these things? >> listen, every president has been involved in fed policy obviously nixon was much more public about it with arthur burns and other fed chairs such as greenspan, that they have been blamed for throwing
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elections in the past. a lot of this was a little bit more circumspect. i did appreciate kevin hassett's comments in the last hour that were extremely circumspect because it is, it's -- what is different about what trump is doing how publicly he is doing it but as we know that is how he communicates in general, in a very public way. as somebody who wants for the fed to maintain, excuse me for the fed to have independence, i would not prefer it would be so public but there is a certain hypocrisy this here, i'm writing about it this week, to suggest that the fed has been independent as alan greenspan since set foot in office because we know it has not been. ashley: another one for you danielle, goldman sachs says president trump will win in 2020 on the economy. as long as something doesn't happen between now and 2020 this is something he should shout from the rooftops about. do you think he is selling it
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enough. >> so unusual to see a big report out of goldman sachs economics team roll out on a saturday. on the other hand we got a trump tweet on a saturday. i read the entire goldman report. there were a lot of great points there. goldman has moved its forecast when the fed is next going to be hiking interest rates until after the election. they're saying based on economic strength there is every indication that trump will succeed in 2020. my only question is, i would want to know where they're buying their crystal ball. if i could see the economy out until november of next year i take my hat off to his economics team at goldman. as things stand they made very good points about the strength of the incumbent being five to 6 percentage points more than that of a democratic party -- you could drive a mac truck through the sheer number of democratic
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contenders. that lack of cohesiveness is something that the goldman sachs economics team is looking at. ashley: we would all like that crystal ball, danielle. we very much appreciate it. >> thank you. ashley: the president is defending his plan to place migrants in sanctuary cities. the u.s. has legal right to have apprehended illegal immigrants be transferred to sanctuary cities. we demand they taken care of as the highest level especially by the state of california which is well-known or its poor management and high taxes. here is what jerrold nadler had to say. roll tape. >> the president has no right to spend money appropriated by congress or other purposes to ship immigrants all over the country. if someone requests a asylum, there should be a place for that person to stay while the asylum request is being ajudicated. nor is it right for the president to use immigrants or
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people who are claiming political asylum as pawns. ashley: joining us now to try to sort all this out, judge andrew napolitano "the liberty file" host. judge, thanks for being here the does the president have a legal right to do this. >> yes he does, but he will shoot himself in the foot metaphorically obviously. ashley: why? >> because this is the opposite what he said he was going to do. he criticized president trump for very harshly for what president trump called catch-and-release. people are stopped at the border. they make application in the obama years they were free to go where they want in the united states expected to come back to hearing whether or not they were entitled to asylum. fewer than 10% came back. that ask effectively what the president is doing, stopping them at border, putting them on a bus to chicago, seattle, san francisco. secondly what is coming up next year besides the presidential
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election. the 2020 ken sus? who gets counted in the 2020 census. persons not just citizens. he really will be shooting himself in the foot cause more congressional representation to be justified in the cities by presence of aliens sent there. if they are there they will be free to go wherever they want. ashley: i spoke to an attorney he can't do this because it is a violation of the hatch act, basically using taxpayer money to carry out a political move. >> you could make that argument but the president can put these folks on a bus send them wherever they want. another interesting thing is, i want locals to take care of them. for years the federal government has been arguing in court and elsewhere immigration is exclusively a federal matter. for years, including his justice department. ashley: right. >> he might be undermining that argument by saying california,
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seattle, new york, you take care of them. i don't see this happening f it does, it will not have the intended consequences that he wants. ashley: in fact the opposite in your mind? >> yes. ashley: as it stands right now, we know the detention centers are overflowing so where are migrants who have come to the border, trying to get into the country where are those -- there is no room for them. where are they going? >> get off the because there are no detention centers. ashley: we were going to put them back to mexico, wait there. >> they can be sent back to mexico if they're from mexico. ashley: knot from guatemala. >> those from central america and law i agree with the president the laws are a little illogical at times. the law says you can only send someone back to the country which they came if it contiguous to the united states which of course central america is not. ashley: all right. we know he is making a political point but in the end may not be what he wants -- >> you said in 10 seconds what it took me 3 1/2 minutes to try
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to explain [laughter] ashley: said it with such passion, judge. that's why we love you. >> okay. ashley: take a live look at the white house. president trump expected to depart for minnesota later this hour. you will see it right here. he likes to talk to those cameras as they wait for him to get into the helicopter. i can guarranty he will say something. if he does we will bring it to you. uber the next big tech ipo coming down the pike, the company admitted it may never turn a profit. why would you say that before you're going public? we'll ask bradley tusk, who helped uber establish a big foot hold here in new york city. speaker pelosi doing everything she can to downplay the rise of the far left democrats. you will hear what she told "60 minutes." congresswoman ilhan omar criticizing president trump for his tweet that blasted her 9/11 comments. she said it put her life in danger. here is the question, is she allowed to make those kind of
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statements, shouldn't the president be allowed to criticize her? we'll deal with that after this. ♪ [ phone rings ] hey maya. what's up? hey! so listen, i was taking another look at your overall financial strategy. you still thinking about opening your own shop? every day. i think there are some ways to help keep you on track. and closer to home. i'm all ears. how did edward jones grow to a trillion dollars in assets under care? thanks. by thinking about your goals as much as you do.
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ashley: at that quick look at the dow. the big board off 34 points. now this. we have shown this video a lot, congresswoman ilhan omar talking about 9/11. roll tape. >> cair was founded after 9/11 because they recognized that some people did something and that all of us were starting to lose access to our civil liberties. ashley: well president trump tweeted out a video slamming omar for her comments and speaker pelosi then came to omar's defense and here is her statement. quote, the president words weigh a ton.
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his hatedful and inflammatory rhetoric creates real danger. president trump must take down his disrespectful and dangerous video. president trump getting in on the action, tweeting this the last hour. before nancy, who lost all control of congress is getting nothing decides to defend her leader rep omar, look at anti-semitic, anti-israel, hate statements omar has made. she is out of control, except for her control of nancy. wow. we have former navy seal rob o'neill who killed usama bin laden. we're interested to get your take on this. some people did something. >> that is not anything close to what it was. the worst terrorist attack basically in world history. ashley: right. >> it is just a shame she can do it like that. she was wrong. cair was not founded after 9/11. it was founded in 1994. they started to advocate more in
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after 9/11 a the way a lot of muslims were treated after 9/11. she was born in somalia. i'm from montana. we're both americans. we see the united states in different lenses. her point trying to get more muslims more active in america. they are not guests here. ashley: is this the way to do it. >> not at all. she knows what she is doing. a few weeks after the benghazi attack, she tweeted out "allahu akbar!" which means god is great. i heard terrorists yell at me. she put up pictures of a map with israel gone, a post-in note, rashida tlaib, palestine, wipe it off the map. that is not the way to do it. the way she is saying people did some things, i think she meant, people of different ideology did this, not what we're doing, she likes to poke the bear, if it
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was offensive, it was offensives. she will never do that. now she is spinning it as the victim which is nonsense, the's reaction, appropriate. >> it is appropriate. he posts pictures of people who jumped to their death out of windows on the world, out of tallest towers in manhattan because for some reason jumping to your death would be instant death as opposed to burning alive at 2500 degrees fahrenheit. it wasn't just americans got hit. people from 90 countries. muslims got killed there. this is president's trump attack on women of color. there were women of color on flight 93, on the plane that hit the pentagon. this is not a fight against islam. it is our way of life. 2019 the western world to include muslims, jews, christians everyone against this ideology. ashley: we're often told you fight for this country. you have fought for this country to protect the flag, everything
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that it stands for, freedom of speech. this is freedom of speech. >> it is freedom of speech. of course it is. ashley: how angry does it make you? >> it down make me angry. instead of this resistance, i'm on the left, you're on the right, get in a room to solve it. when i went overseas and fought with marines, fought next to army, navy, air force i fought with muslims, iraqi, christians. i didn't take a shortcut for the white guy, the black guy. it was a coalition. for them to say he is showing pictures and videos of 9/11, that is triggering, so you don't have a problem by ignoring that but you can call us nazis today? that was, that is bad. ashley: dangerous rhetoric. >> they say, it triggers people. you know what? we should be forced to watch 90 seconds of that every day after we say the pledge of allegiance. this is real. they haven't forgotten about us. they don't want to kill us because we're americans. they want to kill us because we
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don't believe what god thinks they should believe. ashley: let's look at white house. president trump expected to die part to minnesota about 20 minutes from now. if he does speak to reporters, no guarranties you will see it here of course. meanwhile alibaba's jack ma defending china's overtime work culture. he said grueling work days are a blessing. we'll deal with it after this. ♪
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ashley: let's take a look at the big board for you. still down 50 points. down 27 on the dow.
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26,363. take a look at volkswagen. german prosecutors indicted martin winter corn the former ceo, charge of fraud, beating emissions test scandal. emac. liz: they threw the book at him. 10 years of prison. a kitchen sink of charges. the allegations that winterkorn and other top managers were part of an ongoing deception that started in 2006 to rig vehicles to evade detection of emission standards for diesel. they rigged it with software in order to avoid the tougher u.s. standards. this bolsters the sec's case against volkswagen. another lawsuit, a class-action suit. it's a kitchen sink of frauds. fraud, embezzlement, tax evasion and more. now they're in serious trouble. this emissions scandal was a few years ago. ashley: right. he was in charge at the time.
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liz: that is a good point. they're looking to claw back money, 12 million in salary and bonuses. wow. ashley: thank you. alibaba founder jack ma defended the overtime work culture, susan. susan: no such thing as four hour work weeks in china especially the tech industry. there is 996, everybody in china knows you work 9:00 a.m., to 9:00 p.m. six days a week. that is expected. everybody does it, if you work in technology in china. there has been a lot of debates about work life balance especially taking vacation time. making room for other things in life besides work. jack ma defended this, he says i personally feel lucky it's a huge blessing to work all those hours. if you want success, this is how you build a company. jack ma, of course one of the richest people in china but the social sphere and social media in china went viral thinking about what about our lives. more important things than money in the world. ashley: nine, nine six.
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susan: if you go to china everybody knows it. ashley: we won't complain hire at fox business. big day in american history. april 15th, 1947, jackie robinson making his major league debut, breaking the color barrier in baseball. coming up next hour we have some jackie robinson memorabilia to commemorate the event and game-used bat and jackie robinson jersey that could go for a million dollars. that will be fun. nancy pelosi on "60 minutes" downplaying the rise of far left democrats like aoc. question, should she be more concerned about the socialist wing of her party? we'll get into that. ♪
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♪ ♪ i'm the taxman, yeah, i'm the taxman ♪ ashley: yes, we are playing one of stuart's favorite beatle songs. liz: i like your choice, "help." ashley: both work, in honor of tax day today. any moment president trump will head to minnesota for a big tax day event as the dow you can see down 69 points. yes the taxman cometh. let's stay on the tax day theme. bring in brian demo interest. rovich from laffer group. how are the tax cuts doing? he will be back in minnesota touting the effect of those tax
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cuts. what is your assessment? >> ashley, the most important thing about the tax cuts are the economic effects and since december of 17 this economy doing really well. we grew at calendar 3% last year. pressure on the job market, lots of wages going up. oh all the effect of the tax cut will be very good. ashley: do we need tax cuts 2.0 and could we use more and in what areas? >> i'm certain our current tax system is not the opts mall tax system. of course it is a mess. we shouldn't have 37% marginal rate. we should have 25% marginal rate. couldn't have a capital gains rate. take the corporate rate down to 15%, see what would happen? that would be optimal tax system. ashley: the democrats would cry, it is unfair. rich are getting away with murder on the backs of the middle class which is interesting, if you go back in history, you have written about this, democrats over the
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centuries said high tax rates mean bad things but in modern times changed their thinking. >> even woodrow wilson, let alone john kennedy the function of very high tax rate confer value to exemptions that only rich and connected people could get. that is specifically why john f. kennedy cut taxes in 1963 as larry cuddly and i wrote about. reagan had the 100 democratic votes in the 1980s. if you want a optimum tall tax system you can't have high rates. ashley: do you think the president should be selling it more, touting the success, how many more people are having money in their pocket? >> i think it's a little strategic. letting the economy speak for itself. i think he is doing pretty good on that score. ashley: brian, thank you very much. staying on the topic, i want to bring in david avella go pac
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chairman. is president trump doing enough, to pick up on the point i was making with brian, he is doing enough to sell that ahead of 2020 elections. i know he will do it in minnesota but he should be shouting across the rooftops is with i'm saying? >> president and republicans should talk about the economic success the country is having and policies we put in place to make that happen. it is interesting today that the president is going to minute south. it needs to be underscored. this is a state, trump many campaign very much believes they didn't win in 2016 but they can win in 2020. and so every state, that the president goes to the next couple years or next two years is all about re-election. and so clearly the campaign sees something and if you listen to the president's campaign speeches so far, this is a man that is in mid-season form with his economic message. so the more rallies he can do,
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more talking he can do about the success of tax cuts, it benefits him and all republicans. ashley: that is when he is in his real element as well. another one for you david, nancy pelosi down playing the rise of the far left in the democratic party in a interview in "60 minutes." listen to this. >> you have these wings, aoc and her group on one side. >> it is five people. >> no. the progressive group is more than five. >> i'm a progressive. i do reject socialism as an economic system. if people have that view, that is their view. that is not the view of the democratic party. by and large, whatever orientation they came to congress with they know we have to hold the center. that we have to go down the mainstream. ashley: we have to hold the center be mainstream but that is not what we're hearing from a growing voice from the far left. should nancy pelosi be more worried, david? >> speaker pelosi may think it is only five, but those five are
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controlling the messaging right now of the democratic party. you hear those five. representative cortez leading the bunch. she says something, than every presidential candidate falls right in line with a similar message. the bigger challenge for speaker pelosi is, perhaps the fact she is out of line with the democratic party. if you look at the recent winning the issues survey, 51% of self-identified democrats thought socialism should at least be considered given current systems are failing according to democratic respondents. they believe socialism is something that we should be looking at. ashley: but combined with how the economy is doing the trump team must be ecstatic we're seeing rise of far left democrats getting a lot of noise and attention, it plays right into the gop handbook, right? >> democratic message right now is not one that is going to carry the midwest states that the democrats have to win in
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order to defeat president trump and, as we discussed just a minute ago, going to minnesota, shows trump campaign plans to be on offense in 2020 and go win a state that it didn't win in 2016. ashley: i think the president is on a roll. we have the no collusion mueller report. there seems to be a sense feelings are changing on the border crisis. those who were criticizing are now saying you know what? the president is right. this is really a crisis. this plays right into what the president has been saying t plays to his base. it is another victory for the president. >> the american people have always suggested that we, stated clearly that we should know who is coming across our border. that we should have a secure border. that has never changed. whether that was in 2016. ashley: particularly in those key battleground midwest state. or today, where now we have more people coming across the border
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than we did then. think about it this way. there is about 60,000 immigrants coming across the border right now according to reports. if that happened over 12 months, it would double the populations of wyoming, vermont, south dakota. ashley: wow. >> and one other state that just went out of my head. there are four states that the population would double if the current pace of immigration continues. ashley: that is frightening stat. david, as always, thank you for joining us this morning, we appreciate it. >> thank you. ashley: take a look at the big board for you, the dow has been off in the same range now for just over an hour. down 50 points on the dow at 26,364. take a look at qualcomm and apple. the two have been embroiled in a two-year legal battle. these companies don't like each other. susan: no. culminates in a courtroom battle in san diego that kicks off today. testimony starts tomorrow. yes, there have been simmering
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tensions between the two for two years. let me show what you apple is accusing qualcomm on and vice versa because they have had battles throughout germany, china, u.s. courtrooms as well. apple is accusing qualcomm egregious, 12 to $20 per handset. qualcomm has a mow he noily, ceo, settlement talks as well. meanwhile qualcomm accusing apple being deceptive especially comes to regulators that they have been stealing software to help rival chip-makers. this is a big deal, a lot of executives will testify tim cook, which is very rare. many people thought he would pass on the opportunity is. why open up your company so secretive in business practices to fight this? you know they are very serious about this and there is bad blood between the two. ashley: this could take four weeks. susan: six weeks.
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ashley: in a san diego courtroom. susan, thank you very much. hbo streaming platforms crashed ahead of "game of thrones." what a horrible time to as captain obvious would say. liz: you heard of road rage. now it is streaming rage. hbo go and hbo now. it makes rethink cable. because people on cable didn't have a problem. people listen i only got hbo to watch this after waiting two years to see the season premier. started at 8:35 p.m. according to down detector. there is actually an outfit -- ashley: of course there is. liz: to check streaming crashes. people went crazy. twitter and social media blew up. people were really mad about this. susan: we were talking about who will win "game of thrones." calisi three to one odds. john snow. 7 to one. liz: who do i think? thurian. susan: stark is my choice.
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part of the stark family, youngest of the stark family. he has gone through a lot of challenges throughout the eight seasons. ashley: take your work for it. my money on boris johnson. bombshell by the way from uber. they say the company may never turn a profit. why would you say something like that right before you plan to go public? we're going to ask your uber insider next. plus bernie sanders breaking with the rest of the democrat pac. he is not just going after the base, he wants to court trump voters as well. how is that going to play? full details next hour. ♪ so, jardiance asks...
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if you are on dialysis or have severe kidney problems. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. so, what do you think? now i feel i can do more to go beyond lowering a1c. ask your doctor about jardiance today.
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♪ ashley: and the rolling stones. he would love this one, wild horses cannot drag mick jagger away from his heart surgery. posted this picture after he recovered less than a week. liz: that is a great point. ashley: out for a walk in the park. liz: mick jagger putting that up with him walking the park. a week after they postponed the tour in the u.s. was supposed to debut april 20th. he is 75 years old. went through heart valve replacement surgery. ashley: that is nothing. liz: walk in the park he wrote. susan: no touring for another year. ashley: yeah. susan: oh. ashley: i would pay really good money for that. check the big board, down 77 points on the dow. on since the pretty much the opening bell. uber guess what, may never
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turn a profit. strange thing to say ahead of a big ipo. let's bring in bradley tusk, tusk holdings ceo. he is the guy that helped uber dominate the new york city market. bradley, this was contained in the prospectus. guess what, they say we may never turn a profit. why would anybody want to invest in the company say that. >> uber there are legal obligations you have to meet. nobody at uber is interested in going to jail for securities fraud. once it goes public the share price is managing expectations f it beats by a couple pennies or below, that is a huge impact on share price. the more you control expectations the more you save money. ashley: company is valued at 100 billion? >> 90 to 100 billion right now. look, when you look at the big picture between ride-sharing, uber eats, uber freight, autonomous vehicles, everything else i feel pretty good about their path to profitability.
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i think for lyft it is probably a lot harder because it is a very one-dimensional business, based around ride-sharing. ashley: uber spends more on regular recurring operating costs that they expect in net revenues. until that changes they will never make money. >> yeah. never make money ride-sharing. ashley: yeah, is it fair to call it a taxi company with an app? >> i think people some ways always been saying that. it is fair in the sense that it has, it wasn't like travis uber reinvented something from point a to point b, came up with better way to do it. most of the long-term success of uber is economics now better on ride sharing? does this model enable you to do five or six other things? i don't know if amazon made a profit on books early on. ashley: right. >> but the model, enabled them to start selling everything. ashley: i read somewhere, twitter said exactly same thing before they went public. they are making money. not huge amounts but making money. >> expectations are a lot lower
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for twitter. you want to really make sure you don't expectations too high by the time you release earnings everything crashes. ashley: i want to turn to politics. >> yeah. ashley: you're big into politics. 18 democrats, can we have them on the screen? look at that. two baseball teams. >> can't make them out. ashley: all thrown the hats in the ring for 2020. you've done a lot of political campaigns. you're kind of a guru on this. what does a crowded field like that tell you about democrats? >> well, a few things. one is it is anyone's game, right? the notion whoever is polling right now, i don't think that means anything. we're so far out from the first iowa caucuses, that's one. two, a party not in disarray is in a moment of transition, people, i don't agree with bernie sanders or elizabeth warren but i believe they generally believe these things. they have beliefs. people more more in the center like joe biden.
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the party doesn't know what it wants. ashley: a split party. >> there is risk of nominating someone who can't win in the general. making someone so toxic, take some positions it is easy to paint them as extremist. ashley: joe biden hasn't jumped in by all accounts he is 90, 95% certain. >> something like that. ashley: can he generate more mainstream voters than a left-wing candidate? >> probably so but you have to get there. one reason mike bloomberg didn't run, there were not enough potential democratic votes to win the primary. biden the same thing. he might match up pretty well against trump but i don't know that he can get there. ashley: if biden doesn't run, mike bloomberg say okay? >> i don't think so. the i think mike made his decision. ashley: that moment come and bo. >> the candidates that feel exciting like buttigieg, harris are the flavor of the moment because you guys are in the bid
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them up before you tear them back down or are they real deal. obama turned out politically to be real deal. other people are kind of a flash in the pan. we don't know what is going to happen. we have no idea. ashley: it is fun to talk about it, bradley, thank you very much. >> appreciate it. ashley: look at white house. the president is due to take off or leave to air force, base force andrews there to take air force one to minnesota. talking about the tax plan and the economy in general. sometimes he will walk out, go to the helicopter, talk to reporters on his way there. we'll wait to see in it happens f does we'll bring it to you immediately. the big sports story over the weekend anything but this, tiger woods winning his fifth green jacket at the masters. first major for tiger since 2018. america love as good comeback story. this is the granddaddy of them all. we'll deal with it after this.
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ashley: breaking news. college admission is scandal, lori loughlin entered a not
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guilty plea to two counts. emac. liz: they're waving right to appear in court. their legal troubles are worse. the actress and her husband were indicted about two attorneys. the attorneys gave the people ultimatum, take the plea or go to the jury for more charges. money launder having been added to mail and wire fraud. four years, nine months in prison. felicity huffman pleaded guilty faces minimal four months. they face four years in prison and $500,000 in bribes. felicity was 15-k. what a case. ashley: what a case indeed. tiger woods won the masters for the fifth time but his first major victory in 11 years. howard kurtz, media buzz host. my gosh, there was a buzz around all the television sets here and around the world. america love as comeback story.
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as i said earlier this has to be the granddaddy of them all. >> this is the greatest come backstory in any sport. i'm not even a big golf fan. i was very emotional watching this. part, when tiger was a young phenom, disciplined, icy, was a loaner, didn't have any friends. everybody has been with him through what happened. blew up his own personal life. "national enquirer" revealed he had multiple mistresses. four back surgeries. didn't even know if he would walk again or have a normal life. to do that, determination it took to come back, to win the masters, most coveted title in golf, wow. it is not just a sports story. it's a very human story. ashley: it is very much. on the human side of tiger woods he had a very public fall from grace. some people were very disappointed. people say, i don't like him anymore. how many people can he turn around now? you have to respect what he has been able to achieve on the golf course? >> you saw him hugging not just
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his family but the ball boy. that was heartwarming. the media to turn any story into a trump story, the media, trump predicted tiger would win the masters. he played golf with tiger woods and jack nicklaus a couple months ago, he said tiger will start winning majors again. of course we turn everything presidential. ashley: howard kurtzs sorry, it was so short. thanks for taking the time. appreciate it. tiger woods a major story. as i said we're waiting for president trump. when he departs for minnesota you shall see it here. the president taking heat over the weekend for his plan to place migrants in sanctuary cities. he got into a twitter battle with the mayor of oakland, california, that by the way is a sanctuary city. even far left celebrities taking shot at the president. we'll tell you what cher is saying about the president's plan. hour three of "varney & company" starts right after this.
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ashley: president trump about to leave for minnesota for a tax day event. he is selling his tax cut plan in the state that he lost in 2016. this as bernie sanders is campaigning in trump country. we are all over that this hour. taxes, though, not the only issue on the president's mind. he's gone into a twitter fight with oakland's mayor over the possibility of sending migrants to sanctuary cities like oakland. we will get into that this hour as well. big talking point. we are just a smidge, about 15 seconds technically, past 11 a.m. on the east coast, 8:00 a.m. out west. i'm ashley webster, not stuart varney. stu will be back tomorrow, i promise. now, let's check that big board for you. as you can see, been in the same range since the opening bell, down about 62, 64 points on the dow, 26,347. more earnings from the big banks this morning. check citigroup. shares are flat despite higher profit. down actually about 1% now, $66
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on citigroup. they missed on revenue. that isn't helping. check goldman, profits down 21%. that is hitting the stock, down nearly 3%. they are off six bucks at $201. that is also a drag on the dow. speaking of goldman sachs, their economists are now saying president trump will win in 2020. i want to bring in heather zumaraga and madison gesiotto, trump 2020 member. this is all about the booming trump economy, is it not? it continues to hum along very well. >> it really does. the trump economic agenda is working. deregulation and tax cuts have really propelled these markets higher. if you look at unemployment we are at 50-year lows. benefits, americans filing for benefits last year dropped to almost 50-year lows as well. wages are picking up, growth in the economy as noted by gdp is averaging about 3% on an annual
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basis so things are looking pretty good for president trump right now. ashley: if the president wins, it's believed it will be on the back of the economy. my question is, is the president doing enough to get the message out? i know he's going to pound the table in minnesota today. he will tout his tax cut plans and how they have helped the economy. should he be out there shouting just a little bit louder? >> i think the president has been doing an incredible job of getting the message out there when it comes to the economic success that we have seen over the past two years. i know we will continue to see it through 2021 and 2024. he's done an incredible job. and what i thought was very interesting when you look at the goldman sachs economists' predictions about 2020 is the fact that they expect that this economic revival will continue. it's what we have been talking about on this program and so many other programs on the fox business network for the past year now. the economy continues to rise and people across this country are experiencing great success as a result of that. when it comes to how they vote in 2020, i expect they are going to vote with their pocketbooks.
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they will vote for continued economic success. ashley: that's generally what they do. heather, stay there. also, madison. i want to bring this story to you. bernie sanders holding a town hall on fox news channel tonight at 6:30 eastern. let's bring in connell mcshane. he's in bethlehem, pennsylvania where the town hall meeting or debate will take place. is bernie trying to woo trump supporters? is that possible? connell: i don't know if it's possible but he's going straight at them. the way bernie sanders goes after people, straight and to the point with this unapologetically socialist economic message and direct attacks, at times personal attacks on president trump. over the weekend, multiple occasions, he called the president a pathological liar while at the same time trying to appeal, to your point, to the voters who put president trump in office. i want to show it to you on the map. remember how president trump won last time around, then look at where bernie sanders has been just over the last three days.
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starting friday with a trip to madison, wisconsin, he campaigned there. he was quickly out of wisconsin and headed to michigan, and met with a union group in michigan on saturday, then here to the state of pennsylvania for a rally in pittsburgh last night before moving here where i am to the lehigh valley, where he will participate in that town hall with bret and martha on fox news channel this evening. president trump won pennsylvania, michigan and wisconsin by fewer than 80,000 votes the last time around. sanders is making a bet that he can bring his message, medicare for all, free college and all the rest of it, and win those voters back. some of the democratic party have argued a more moderate message presumably would be carried by the likes of joe biden if he gets in the race, would be a better bet. but that's an argument for another day. today, it's all about bernie. at some point we expect to see his tax returns, where the guy has been on the trail bashing millionaires and billionaires will likely be shown to be a millionaire himself. the town hall is at 6:30. on 4:00 p.m. eastern on "after the bell" we have a special
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edition from here in bethlehem. we will look at the pennsylvania economy in depth. of course, such a key state. last time around and we think next time around as well. ashley: you are exactly right. connell mcshane, bethlehem, pennsylvania, thank you. we will tune in at 4:00 of course for that. thank you. madison is still with us. madison, does it worry you, we just heard from connell, bernie sanders going after trump supporters? could he persuade a few to jump ship? >> he may persuade a few but he won't persuade very many. that's a result of two specific things. one of those being that people don't want to lose their jobs or see their neighbors lose their jobs. we talk about this government takeover of health care that he supports and promotes, over 500,000 americans would lose their jobs in the health care industry as a result of that. and of course, you look at the polling, people don't want to lose their health insurance. over 200 million americans will lose their health insurance if the government takes over health care, as bernie sanders hopes to see. so people aren't happy with this.
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i do think it's a mistake for other democrats to boycott fox news and so i think it's great that he's doing that but i still don't think he will ever be able to gain enough votes or take enough votes away from president trump to be a real contender in 2020 against this president, who as we talked about before, has experienced great success over the past two years. ashley: well, but the younger voters, madison, they love to hear the word free. free college, free whatever, free medicare for all, you name it. it can be a powerful message. forget how you pay for it. when you're on stage in the middle of your campaign slogans and are shouting it out, it is compelling to a younger voter. how do you counteract it? >> sure. on the surface level, it certainly does sound compelling but what we have seen across this country when you go to college campuses is when you get more in depth in the polling or get more in depth in the issues, in the policies that people like bernie sanders are promoting, people don't agree with them. like i said on the polling, when you look at medicare for all, i said this many times, we are seeing over 70% of people saying
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oh, that sounds great. when they start to understand what's really in it, that drops to the 20%. so continuing to push that message of what's in these policies and how it would directly affect their lives, when they understand that and hear what's actually in them, they don't support them. ashley: the devil is always in the details. by the way, the trump campaign raising more than $30 million in just the first quarter of this year. when you compare that to bernie sanders, he's raised $18 million, how key is the money raised? we talk about it all the time, because hillary had a lot more money in 2016, did she not, and look how that turned out. >> yeah, president trump won by spending half the amount of money that she raised in 2016. so the money's key but it's not everything. when you look back comparing this to 2011, i think president trump has over 21 times more money than president obama did at the time. so he's doing an incredible job. he will certainly have more than enough money to win when it comes to the election. ashley: we have to leave it there. thanks so much for joining us today. appreciate it. we have another edition, yet
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anoth another addition. south bend, indiana's mayor pete buttigieg officially announced he's running. buttigieg held a packed rally yesterday in south bend. the announcement came after months of being in the exploratory committee stage. we know that so well. he is the first openly gay candidate for president. another one in the race on the democrat side. let's get back to your money and let's get a check on disney. the stock moving lower just slightly, still in record territory after announcing the new streaming service called disney plus, it will be about seven bucks a month, $70 for the year. shares now as you can see down about 10% at $129.89. let's check netflix as well. they are down again on that disney news. netflix's standard plan is about double what disney is going to charge. that's 13 bucks a month. barron's says buy netflix on the dip. that's their advice. it is in a dip, down nearly five bucks at $346.
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$346 on netflix. to the crisis at the border. there are reports of migrants now breaking down a gate at the guatemala/mexico border in an effort to join the caravan that's already making its way to the southern border of the united states. meanwhile, the mayor of oakland once warned illegal immigrants in her city of possible raids by federal officers. she tipped them off. now she's going after president trump's idea of sending migrants to sanctuary cities like hers. even cher weighing in on that idea, saying l.a. cannot handle a flood of migrants. we'll have that for you as well. the third hour of "varney & company" just getting started.
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ashley: bet you cher would like to turn back time and a certain tweet she sent over the weekend. what did she say? liz: i understand helping struggling immigrants but my city, los angeles, is not taking care of its own. what about the 50,000 plus citizens who live on the streets? people who live below the poverty line and hungry? if my state cannot take care of its own, many who are vets, how can it take care of more? the reaction has been swift. james woods, the actor, said cher wakens to reality. donald trump jr. tweeted back welcome to the republican party, cher. another person tweeted out i will never forget where i was and what i was doing when cher decided to become a republican. she's not become a republican. ashley: no, of course not. but she, you know, you walk the walk, you talk the talk and the other way around. bottom line is if you are in
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support of the sanctuary city, and i'm not sure cher is, but therein lies the problem. if you let unfetterred millions more of undocumented migrants, it's not doable. liz: critics are saying what the president's idea was was quote, petty. that's what critics are blasting back, with his idea of putting illegals in sanctuaries and you know, department of homeland security has not allotted spending for it and it would put pressure on i.c.e. and border security officials in those cities to have to deal with the influx. that's a blow back against what the president was saying. ashley: got you. cher isn't the only west coast name weighing in on the president's idea. oakland's mayor libby schaff dodging questions on whether or not she would take in these immigrants in a recent interview with npr. the president had this to say on twitter. quote. so interesting to see the mayor of oakland and other sanctuary cities not want our currently detained immigrants after release due to the ridiculous court-ordered 20-day rule. if they don't want to serve our nation by taking care of them,
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why should other cities and towns, unquote. the mayor then fired back at the president, saying quote, it's time to stop fanning hate and division, president trump. i have been consistent and clear. oakland welcomes all, no matter where you come from or how you got here. let's bring in kris kobach, former kansas secretary of state. wow, so much to go at here. kris, it seems like the democrats don't want to put their money where their mouths are on this issue. maybe the oakland mayor. but the bottom line is they talk about having sanctuary cities and saying it's only fair, we heard from the oakland mayor, but it's just not feasible. now the president is trying to call them out. >> you know, the funny thing is they are already putting their money where their mouth is even though they don't know it and that's because right now, when i.c.e. takes these illegal aliens and releases them with a court date in the future, come back for your hearing x number of years in the future, they usually provide transportation
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to some place where the illegal alien already has relatives living. overwhelmingly, those are sanctuary cities like san francisco, oakland, sanctuary states like california. they are already going there anyway. cher has a really good point. i never thought i would say this on national tv. but cher has a great point. the illegal aliens coming in place a huge burden on social services. it's estimated that an illegal headed household costs us net $19,000 -- over $19,000 a year, that's after any taxes they have paid in, of all the social services they consume. so it is actually true that they come into these jurisdictions, overwhelmingly places like california, and then they take the social services that otherwise would be going to u.s. citizens. ashley: putting cher aside, even jeh johnson, the former department of homeland security secretary under president obama, said there is a crisis at the mexican border. do you feel like the narrative has changed, more people agreeing with the president something has to be done? >> i think so. i just came back from the border
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last week and what we're seeing now is not only extraordinary numbers, march had the highest number of apprehensions in 12 years, but it's a different type of illegal immigration. ten years ago, people would sneak in in the middle of the night in install grousmall grou. now they are coming in broad daylight in huge groups, by the thousands in cases of the caravans, marching right up to border patrol and either they have a child with them which may or may not be related to them, and they are saying here i am, here's my child, and they know that they can't be detained more than 20 days, or they are coming and falsely claiming asylum. you only get asylum, ashley, if you have been persecuted because of your membership in a particular social group. that's the international definition. these individuals are coming in saying there are gangs in my neighborhood, i want asylum. here's the thing, though. because of the backlog in our immigration court system, they are being handed a court date five or six years in the future. in the meantime, they can live in a quasi-legal status while
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they wait for their asylum claim to be heard. there are two huge loopholes and we have got to close them or this crisis will not end. ashley: we have to leave it right there. sorry it's so quick. big news day, as always. kris kobach, thanks for joining us. appreciate it. >> my pleasure. ashley: all right. chances are if you were watching tv yesterday, you were watching tiger woods or "game of thrones" or perhaps both. one tweet sums up both of these pop culture juggernauts. we have it for you, coming up. and today is not only tax day, it is the 72nd anniversary of jackie robinson breaking baseball's color barrier. guess what? we have some historic pieces of memoribilia to mark the occasion. we are talking big money here. don't go away. as a financial advisor, i tell my clients
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with mattresses by j. d. power. save $400 on select sleep number 360 smart beds. only for a limited time. we will always be with you. no one's ever really gone. ashley: very dramatic in that voice. that's part of the newly released trailer for the ninth "star wars" film called "the
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rise of skywalker" which comes out december 20th of this year. you have to wait a little longer. if you are visiting the new galaxy's edge edition to the disney parks this summer, be on the lookout for these custom coca-cola bottles. looks sort of like the soccer balls that roll around. the signature coca-cola logo is in the "star wars" language to give guests an immersion in "star wars." last night was a big night for "game of thrones" fans. bittersweet night to be sure, the premiere of the final season of the main story line of the show. i'm sure there will be multiple spinoffs to keep the fans happy, probably if the "star wars" franchise has taught me anything. by the way, i do love dragons. we also love a comeback story and tiger woods gave us a beauty, winning the masters. his first big win in 15 years, his 15th major tournament
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victory overall. yesterday's early start didn't hurt the ratings, by the way. highest rated morning round of golf in 34 years. that is the tiger effect. "sports illustrated" piggybacking on the "game of thrones" premiere by tweeting the king has reclaimed his throne, showing tiger on the iron throne with his masters jacket on. it's all coming together. i wanted to show you this picture from 1997. that's when tiger won his first masters tournament. a passionate embrace of his father earl woods. now flash forward to yesterday, and the tradition continues. isn't that great. after the win, woods embraced his son charlie, 22 years after his first masters win. some say the start of a new woods renaissance. we have to wait and see. now check this out. after being off limits to religious pilgrims, encased in wood, these marble steps located in rome have been unveiled. so what's the big draw?
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these steps are believed to have been ascended by jesus christ before his crucifixion. some believe christ's blood has even stained the marble. the stairs are only on display for 60 days and will close on the 9th of june. plan on huge crowds checking that out. fascinating. one more for you. over the weekend, the world's largest plane on your screen right now took its maiden voyage. it was built by a rocket company stratolaunch. it has a 385-foot wingspan, weighs around 500,000 pounds. its inaugural flight lasted for about two and a half hours and reached about 15,000 feet. is there business class? impressive. president trump by the way, we keep telling you this, about to leave for minnesota to tout his tax cut plan. the question is, does he think minnesota is in play in 2020. he lost that state by just a couple of points in 2016. also ahead, the crisis at the border. we get the latest from someone who is dealing with the flood of
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migrants in arizona. he actually toured the area with the vice president. how are they dealing with it on a state level there? we'll be right back. i knew about the tremors. but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid.
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the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. ashley: there is the president, joint base andrews, about to get on air force one. he normally comes out of the white house and walks to the helicopter, takes the helicopter ride to joint base andrews. but he didn't this time. the wind is howling so they decided to play it safe and take a motorcade all the way to joint base andrews. it's not that far but what it means is we didn't get any comments from the president. of all those cameras that lurk in the bushes wherever he heads off to the helicopter. there he goes, he's getting on air force one. he will be heading to minnesota, where he will be meeting with local businesspeople there touting the success of his tax cut plan and the economy as a
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whole. there you have it. joint base andrews. he's winging his way soon to minnesota. meanwhile, markets haven't done much ever since we opened this morning. down about 50, 60 points. the dow at 26,352 or thereabouts. let's get another check on goldman sachs after their lackluster earnings report this morning. as you can see, hurting the stock, down 3% at 201 on goldman, down more than six bucks. that is hurting the dow, by the way. take a look at the s&p 500. profits expected to drop a little more than 2% this quarter, 2.3%, to be exact. our next guest tells us that contrary to the rhetoric, spring is coming. he says the s&p is set to soar this year. come in, phil orlando, federated investors chief equities strategist. thanks for being here. you are bullish.
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let's get to the markets. you are bullish. >> we are bullish. >> based on what? >> the reality is that the 20% decline we saw in stocks at the end of last year, multiples down from 18 times earnings to 14 times earnings, as the market was pricing in, in our view, the near certainty of recession. we have got a proprietary model that tells us we're not going to get a recession in 2018 or 2019 or 2020. our best guess is the recession will start perhaps in the first part of 2021. the market is now starting to realize that. we are starting to see a reexpansion, if you will, of multiples. the stock market's up 23% since that christmas eve bottom to where we are right now. the bank of america merrill lynch put out a report in the first quarter saying a lot of money outflows, ton of money, billions coming out of the market. is there a sense now, that sense of bullishness getting all the way down to the individual
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investors and saying you know what, i need to get back in and i don't feel like there's anything bad around the corner? >> well, that hasn't happened yet, because we have heard the same report, that retail investors have seen outflows in the first quarter. once investors realize the economy is not going in a recession and that the reexpansion of multiples from 14 back to 18 is only halfway done, we've got still two multiple points to add and we will increase earnings on a year over year basis we think to maybe 5% this year to $170, so if we are looking at an 18 multiple with $170 in corporate earnings, that's how you get to 3100. we are sitting here at 2900. we have another couple hundred points to go. ashley: anything on the horizon that worries you? obviously we have the trade talk, we talk about incessantly day after day after day but we are led to believe at least with china for sure, we are in the final stages now. we get something sorted out with china, get something settled with japan, get something settled with the european union, all of that takes away a lot of
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the doubt that businesses may have, takes away tariffs. what does that do to the economy and what does it do to the market? >> well, the market we think will rip on that, because the consensus view is much more dour on the whole china situation than we are. our chief investment officer did a piece a couple weeks ago where he looked at exactly that. the consensus, he said 30% believes there will be no deal at all, 60% believes mediocre deal, 10% believe good deal. we are 60% that it's going to be a good deal. if we're right, that we do get a good trade deal with china and we start exporting more goods to china, which will boost economic growth, gdp growth and corporate earnings, that's not really in the market. ashley: plus you have a dovish fed that's just sitting pat for now. the brexit, if that was ever an issue, has now been postponed. things are pointing in the right direction. i know we talked a lot about global slowdown, but things seem to be going along pretty well here in the u.s. that's where the money's coming to. >> look at the rebound we saw in
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march jobs versus february. and this thursday, we are going to see the march retail sales. remember, retail sales in february were terrible, they were negative. if we get that bounce on thursday we're expecting, then investors start to realize the economy is moving back in the right direction. ashley: very good. 3100 on the s&p by the end of the year. >> yes, sir. that is correct. ashley: thank you so much for being here. appreciate it. very bullish. president trump about to take off as we speak. we are looking at air force one. he's at joint base andrews, on his way to minnesota on this tax day. he will be holding a rally this afternoon, touting his tax plan's success. come in, matt finn, fox news correspondent. he's on the ground in minnesota waiting for the president to arrive. matt, give us a preview of the president's speech later on today. reporter: well, the president is set to land here in minneapolis in a short while and will take his motorcade down here, where he is holding a roundtable to
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discuss the economy with local business leaders and a small invited audience. today is tax day so we do expect him to promote his tax reform and the soaring economy, the president says so many americans are enjoying right now. today will be more of an intimate setting. we won't see that large president trump style rally or large public event today. the president is also seeking to win the state of minnesota in the 2020 election. he lost it by about 44,000 votes to hillary clinton in 2016. the president has said he thinks it will be very easy to win this state which hasn't given its ten electoral votes to a republican presidential candidate since 1972. democratic minnesota senator amy klobuchar, also 2020 presidential candidate, held an event here yesterday to get ahead of the president's message today, and she says the president's tax cuts benefit the rich. >> think about that. when you think of the income disparity in our country and how unfair it is, this made it even worse.
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it also added $1 trillion to our national debt. so i don't think that's anything to celebrate. reporter: klobuchar also heavily criticized the president, saying he's been unable to fulfill his campaign promise of passing a comprehensive infrastructure bill, and this morning, klobuchar released a statement saying so far, she has released her tax returns every time that she has been a candidate for federal office so today on tax day, klobuchar once again calling on the president to release his. ashley: very good. thank you, matt. appreciate that. let's bring in the president and ceo of the job creators network. alfredo, thanks for joining us. >> good morning. ashley: good morning to you. let's talk tax returns. a lot of people are seeing smaller checks this year but you say that's a good sign? >> look, i think it is. because basically, what that means is that there were less interest-free loans basically to uncle sam and that's a good thing. every single pay period,
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american worker was getting more in their paycheck. we say that's a great thing. that was an opportunity for them to invest their money into whatever they wanted or spend their money on whatever they wanted. i think that's why we really see very strong consumer sentiment. frankly, at the end of last year, it was thanks to the liberal media that basically tried to talk us into a recession even though every single economic indicator wasn't there. look where we are today, 7.6 million unfilled jobs. i just heard, you know, klobuchar's statement there. look, 7.6 million unfilled jobs and only 5.6, 6 million folks to fill them? it's a red-hot economy. every single demographic group is doing extremely well under the tax cut plan. ashley: also small business creation, we understand, is surging as well. >> absolutely. ashley: all of this under the trump administration, but i think kind of making the point this morning, i think maybe they need to get that message out more, as you say. there are plenty of people in the media who don't want to talk about these things, but they are very, very tangible, they are
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happening right now. would you like to see the president shout a little louder? >> i would love everybody to shout that story from the president and it's amazing how truth can be actually very inconvenient. in this particular case, this particular truth is very inconvenient for the democrats. again, when you look at the record unemployment rate across every single demographic group, and you mentioned small businesses. straight out of the field, by the way, i just got this information from a poll that we just did, national poll amongst cpas, certified public accountants, and they basically said they represent almost 6,000 small business owners, small business pass-throughs. 80% of those cpas said the small business, the tax cut and jobs act positively impacts small businesses that they represent and they believe 75% of them believe that it is a very positive impact on the economy. so this is the actual reality. it's not perception. it's from the folks straight out of their hands this week that are working hard pretty much 24/7 trying to get these returns
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done. they think it was a great thing and a great representation of what we are seeing across the economy which is red-hot. this administration has been able to nail what i call the trifecta of wins for small business, lower taxes, less red tape and really helping access to credit. we couldn't be happier from this perspective. ashley: very quickly, alfredo, we even had goldman sachs saying based on everything they have looked at, they are predicting a win for president trump next year, basically on the back of the economy. >> yeah. well, as long as the fed doesn't do what they were trying to do last year which is, you know, effectively they were hitting, pumping the brakes and hitting the emergency brake at the same time with quantitative tightening as well as raising the rates. they at least stood still for now. we would love to see a quarter rate pull back, unleash the economy a little bit more, but i think it's going to be a pretty nice economy for the president going into the election. ashley: very good. we have to leave it right there. alfredo ortiz, thanks so much for joining us. appreciate it.
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quick stock check for you. take a look at boeing first. president trump weighing in on their 737 max jet liners over the weekend, advising a rebranding after their two disasters. boeing still working on a software fix for the planes. no release date scheduled. boeing down more than 1% at $375. that is a drag on the dow today. check american airlines. one of the biggest flyers of the 737 max. they are keeping the plane off the tarmac until the middle of august. it was supposed to be april. it keeps getting pushed back. also announcing they will be implementing a new training scenario in their simulators that mimics problems with boeing's anti-stall system. american airlines down nearly 1% at $34.38. check southwest. 34 737 max jets in their rotation. also grounding them until early august. between american and southwest, that is 275 flights per day being slashed from the schedule. president trump, by the way, just tweeting about the border.
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quote, mark morgan, president obama's border patrol chief gave the following message to me. quote, president trump stay the course. i agree and believe it or not, we are making great progress with a system that has been broken for many years. we are dealing with a border with the director of the arizona public safety department talking to us next. we also have several pieces of american history on set with us as well. very cool. there you have them, including the jersey jackie robinson wore in one of the most iconic games in baseball history, the shot heard around the world game. that's next.
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ashley: all right. want to give you an update on where lyft is right now. they have been -- there i am.
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they have been down below $60 per share for quite awhile now and that's where it is, down 20% last week, right now at $56 or thereabouts, down another 6% plus today, $56 on lyft. let's take a look at bitcoin. we like to look at this every day. levelling out after that big surge from the beginning of the month. still above $5,000 for a coin, per bitcoin. so that is up another $103 today. also, the price of oil per barrel, down slightly, down 1% at $63.23 on crude. down 60 cents on the day. with the price of gas up for two weeks straight, national average now at $2.83 per gallon. stuart varney is crying somewhere. we've got wind of a new study released from the center for immigration study showing that every illegal immigrant who enters the united states costs american taxpayers over $70,000. that's due to public assistance programs.
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the center says the cost actually skyrockets when an illegal immigrant has u.s.-born children who also then depend on welfare programs. let's stay on the border crisis. vice president pence in arizona last week meeting with border officials about the state of play down there. let's bring in now colonel frank milstead from the arizona department of public safety. thanks for joining us. i used to live in yuma, by the way, so i'm very familiar with that part of the world. can you give us an update on the situation down there? what did the vice president see as he did a tour? >> i think the vice president was able to see the magnitude of the problem down on the border. we spoke very candidly with the agents that are down there and with leadership from border patrol, and they were very frank about the fact that they feel overwhelmed with the sheer volume, the number of people that are coming to the fence, coming to the border and asking for asylum. ashley: have you seen these
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types of numbers before, these types of surges? >> you know, that's a great question. so in my previous occupation or life, i was at phoenix police for 25 years. 10 or 12 years ago, when the tucson sector was being overwhelmed with that huge volume of people, we saw in phoenix, which is about 120 miles north of the border, you saw social services overwhelmed, you saw hospitals overwhelmed, the waiting rooms, because there are certain pieces of society that never say no and it's the educators, it's social services, it's hospitals. they treat or try to help everybody that comes to them. ashley: you know, it's funny, america as we know is in a massive country and it's very easy for someone living in d.c. or san francisco or somewhere, they have no idea what's going on at the border. they also don't have a property land at the border but this has been a daily battle for people who live in this part of the country and it's been going on for years and years. it's been out of control. this has been long overdue.
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this crisis has been brewing for the long time. >> it has. the crisis is real. if you talk to the ranchers, you work with the border sheriffs, you talk to the border patrol agents, or even my troopers that are assigned to southern arizona, that populace, those people all really count on each other to help one another through these crisis situations for the safety. the other thing that we have seen is this phenomenon now because marijuana can be grown legally in california and nevada, colorado, the cartels have quit really moving marijuana through the deserts for the most part. we are now starting to see the deserts used for the movement of hard narcotics, methamphetamine. methamphetamine in arizona right now is about $1500 a pound. if you go back even five years, it was $7,000, $8,000, $10,000 a pound. so the appetite for these drugs is huge. we are trying to protect not only arizona but really the trickle effect into the d.c. area across the country.
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ashley: you know, the president has said we can take these overflow of migrants and put them into sanctuary cities. i have always looked at sanctuary cities as an invitation to people to break the law. in other words, if you can just get here, we will protect you. how much is that playing into this? >> well, i think it's a bad way to start your route into america is by breaking american laws to get here. there should be a system that allows them to come and properly come through the system in some sort of expedited fashion, or be returned. but i think what you're seeing is repatriation efforts are stalled because countries don't want to take them back. they don't have documentation to prove where they're from. the complexity of the problem is so vast that it doesn't get talked about but i think the rest of america, we get it in arizona, they understand it in south texas, but the rest of america has to understand what this crisis means to the entire nation. ashley: i think that narrative
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is slowly but surely changing. colonel milstead, thank you so much for joining us today. >> ashley, thank you for your time, sir. ashley: thank you. the latest on that college admissions scandal. actress lori loughlin has entered a not guilty plea to two counts. liz: that's right. allegations, half a million dollars in bribes to get their daughters into usc. the ultimatum from the u.s. attorneys in boston were this. take a plea or the case goes to a grand jury and you will face even more charges. well, that's the route lori loughlin took is the latter, with her husband. so now, here's the thing. they face prison time each, four years plus in prison. they are pleading not guilty. the attorneys in boston, the prosecutors loaded on money laundering on top of the other charges to those who plead not guilty. so there's e-mail evidence, according to the prosecutors, of the husband e-mailing the ringleader, rick singer, what's the game plan to get one of my daughters into usc.
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photoshopped photos that they were rowers when they never did crew, never picked up an oar. so it's going to come down to the evidence, right? ashley: big roll of the dice. you're right, it comes down to evidence. i can't imagine prosecutors would take it this far if they didn't have what they would consider damning evidence. liz: that's a good point. and the grand jury. good point. ashley: thank you very much. liz: sure. ashley: we have a real treat for you coming up. some baseball history. american history right here on the set. on this jackie robinson day. the question is, how much was this jersey go for? it's not cheap but it's real history. we'll be right back. what do you look for when you trade? i want free access to research. yep, td ameritrade's got that. free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those.
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and ask for your free decision guide. want to apply? go ahead, apply. anytime's a good time. remember, the #1 important thing, medicare doesn't pay for everything. a med supp plan could help pay some of what's left. and this is the only plan of its kind endorsed by aarp. that's the icing on the cake... i love cake. finding the right aarp medicare supplement plan for you could be just a quick call away. ashley: okay. yes, today is april 15th and that does mean it's tax day but it's also jackie robinson day to you baseball fans out there. the day that mr. robinson broke the color barrier in baseball, making his major league debut. i want to bring in ken goldwin for this, founder of goldwin auctions. he's got some of the goodies for us. as always, you bring the coolest stuff. let's get started. we have the brooklyn dodgers
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jersey hanging in the studio. tell me about this. >> this is the 1951 game-used home jersey. it's graded and authenticated as an 8 which is incredible. it's original. typically they may remove the numbers, it's got jackie robinson's name in the collar. this is one of maybe three original jackie robinson game-used jerseys. it's obviously a historic item. one of thighis jerseys a year a sold for $2.5 million. we expect this to sell between $600,000 and $800,000 and obviously, you know being in new york, later this year, the jackie robinson museum will open up. they would love someone to buy this and put it on loan there. that would be tremendous. ashley: we also have a bat on the set here. this is the one mr. robinson used in '53? >> 1953. by the way, all these items are available right now. the auction started today at golden, g-o-l-d-i-n this is a game-used bat from the 1953 season of jackie robinson. we expect this to go in the
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range of about $125,000 to $175,000. ashley: how do you find this stuff? >> collectors have saved it. typically, for example, that -- ashley: like the jersey? >> that jersey, what happened was at the end of the '51 season, they gave it to the minor leagues and the person in the minor league looked in the collar and saw jackie robinson's name in the collar and said i'm just going to keep this. that's how that happens. ashley: amazing. all right. i have sitting here, lou gehrig's very first yankees contract. if i can read this, it says an aggregate salary of $3,750 for his skilled services. >> exactly. skilled services. darned right. they didn't know what they were getting. this is his 1925 contract. this is the first year of the streak. i will carefully, you can't use gloves because otherwise you can't turn the paper, but if you zoom in right here, you will see ed barrow, the yankees signature and lou gehrig's signature right before he became the iron horse. ashley: the iron horse himself.
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how much would something like that go for? >> this would probably go in the range of $250,000 to $350,000. ashley: then a baseball. >> this ball is actually the final home run ball, the major league record home run ball, this is home run ball number 762. this is the actual ball that barry bonds hit for his 762nd career home run, setting the all-time major league record, likely a record that will never be broken. this will range somewhere between $500,000 and three quarters of a million. ashley: before we leave, there's an interesting little item here. it's a little notebook. it's got president kennedy's autograph on it. tell me about that very quickly. >> this is truly historic. this actually was captured on videotape, a chief of police in new jersey had this and he put his forensic team on it. this was president kennedy was shown two hours before he was shot on a national geographic video signing this book. it's the last known autograph of president john f. kennedy and it's the only one that's actually captured on tape. we have the video on our
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website, and this we expect to go for at least $100,000. ashley: at least $100,000. all of this is always tremendously fascinating. we appreciate you bringing it in. >> i appreciate being here. ashley: one more plug for the site. >> goldin g-o-l-d-i-n auction is live, closing may 11th. ashley: fantastic. we'll be right back.
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ashley: welcome back, everyone. fox news reporting that the department of justice plans to make the mueller report public on thursday morning. attorney general william barr said he would release this emac, on mid-april. so we're now told thursday. that would be april the 1 18th keeping in with the timetable. it will be redacted. liz: that is important point. ashley: under law there are things that cannot be released to the general public. liz: grand jury. ashley: democrats will say this is all black ink.
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we know that the mueller report will be released on april the 18th this thursday. should be interesting. quick check on the board. the dow is stuck in this range all this morning. down about 70 points on the dow, 26,342. neil cavuto. it's yours. neil: thank you very much, my friend. of course how much of that report will get a lot of attention on the corner of wall and broad as well. we're following it very closely but as you just heard from ashley that mueller report with some redactions will be released thursday morning. how many pages will be wiped out, blacked out, anyone's guess but thursday is the day. the market sort of non-responsive to this. they have been expecting any day. thursday is the day it will all happen. we want to focus this being tax day and president out in minnesota to remind americans that the tax law has been very good for them. all of this were anomalies where most americans don't feel they got any bang from the buck from it.


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