Skip to main content

tv   Varney Company  FOX Business  April 23, 2019 9:00am-12:00pm EDT

9:00 am
dagen: beyonce's hair flip. >> you cry because of the hair flip. maria: i'm glad. i will watch it as well. have a great day. seize the day. daig dagen, richard, lindsey, thank you. stuart varney, take it away. stuart: good morning, maria. good morning, everyone. speaker pelosi trying hard to figure out what to do with the mueller report after it reached that no collusion conclusion. yesterday's conference call with democrats lasted an hour and a half. at the end of it, the split was only likely papered over. to impeach or not to impeach, that was the question. speaker pelosi cautioned against it, but she will keep the investigations going. in other words, impeachment won't work but slime him anyway. at cnn's marathon five-hour town hall last night featuring five presidential candidates, senators warren and harris plus mayor pete came out firmly in favor of pursuing impeachment.
9:01 am
bernie sanders, he was the voice of moderation. he thinks impeachment talk distracts from the issues. as of this morning, the democrats remain split and you can look forward to 20 months of investigate everything. toxic politics. let's get to your money because it's looking good. the profit reports we have seen so far this morning are strong, and some big name stocks are moving up on their profit news. united and twitter, among them. we'll have the full list momentarily. when profits look good, so does the market. we are going up at the opening bell, not a whole lot, 40 points up, maybe, and a fractional gain for the nasdaq, but up is the direction. the price of oil this morning, $65.80. that's the price. not hurting wall street. it may hurt you at the pump, though, as we keep saying, here comes $3 gas. "varney & company" is about to begin.
9:02 am
stuart: look at this. that is chilling video of a sri lanka bomber walking into the church. isis, by the way, is claiming responsibility. let's wrap it all up. what's the latest? t ashley: more than 300 dead now. the sri lankan prime minister held a news conference saying there is the possibility of more attacks. some of the bombers they know traveled abroad, then returned home. he does believe there could be links with the islamic state. he said the attackers had already targeted a fourth hotel but that target failed. there is of course this chatter that maybe it was in retaliation for the attack on mosques in new zealand. some doubt being put on that, saying they were aware of a potential attack many months before the mosque attacks in new zealand, but there again, they do say they did get specific
9:03 am
intelligence from india. we wondered where this intelligence came from. sri lanka saying today they were provided intelligence from india about the possibility of attacks. there is still a lot of finger pointing as to why perhaps they didn't do more in light of that intelligence but that's the very latest. stuart: it is chilling video. ashley: very chilling. stuart: the man with the big backpack. ashley: right into the middle of the church. stuart: just awful. ash, thank you very much. we are going to be up maybe 40 points for the dow industrials. small gain for the nasdaq. now, there are four dow components which have already reported their earnings before the bell this morning. we've got coca-cola, procter & gamble, united tech and verizon. there are many more but we picked out those four. two up, two down. market watcher david ragland joins us this morning. stocks, look, these profit reports so far are pretty strong. i've got to say they're strong. individually, some of them are very strong. are they strong enough to take this market to new record highs?
9:04 am
>> yes, i think so. what we're looking at here is we still have enough things to worry about, and these profit reports are coming in higher based upon depressed earnings estimates earlier so we still have a lot of potential for upside, especially since we are so close to the old highs and we still have a lot of room left to run in the fang stocks, which are all down on average about 10% from their old high. a lot of room to run from technology stocks that are going to be reporting later this week. stuart: let me focus on that, because we've got microsoft and facebook out tomorrow afternoon, amazon out on thursday afternoon. those stocks, microsoft, i know for a fact that amazon and facebook, look at them, they've all gone up and are up now again. look at this. they are up in advance of the official earnings. are you expecting strong stuff from these three big tech companies?
9:05 am
>> i think we're going to continue to get very good earnings across the board with these companies, and we have seen that microsoft obviously is above its october high. facebook obviously has a lot of room to go. obviously it's got some regulatory issues that are hounding it at this point in time, but you know, obviously upside for those and their businesses continue to produce record profits which are obviously the profits on the bottom line are what are going to create the upside in the stocks themselves. stuart: looks to me like this market, those three tech stocks in particular, just want to go up, barring any surprises wednesday and thursday. david, thanks for joining us. see you again real soon. thank you. >> great. thank you. stuart: got a surprise for everyone. look at this. this surprised me. 82% of retirees surveyed are optimistic that they can live comfortably in retirement. that is a record high number. wasn't expecting that. aren't we used to oh, we haven't
9:06 am
got enough money saved for emergencies, can't afford to retire? 82% of retirees are happy. former reagan economist art laffer is with us. art, that good number on retiree satisfaction is entirely a function of the stock market, isn't it? >> it is. it really is. but just remember, those who aren't optimistic are so scared, they are still working so they're not really retirees. it's a biased sample. just joking, stuart. the stock market, the economy, all of this does really great stuff for retirees. frankly, if you are in the midst of a depression or big downturn, the great recession, whatever, it's really very, very scary to be a retiree. i'm 78 and my friends are all around, they are panicked when it's bad times but they are all in great shape right now. it's just a wonderful world we're living in. stuart: you said that knowing that i would register surprise. >> i took the bait.
9:07 am
stuart: you look fantastic. you had to put it out there, didn't you? >> but i'm not a retiree yet. i'm still working full-time. i love it. i just think it's wonderful. but you know, it's a great thing, this economy. it solves so many problems. i just hope we don't do something silly like elizabeth warren or bernie sanders and ruin the whole game, because it's so great being prosperous because it makes everyone happy. stuart: well, could these endless investigations upset the apple cart, so to speak? we've got 20 months where you are going to investigate everything, if not impeach. what does that mean for the markets and the economy? >> let me just tell you what it means for me. come march next year, march 2020, i'm going to look very, very carefully at the impeachment, at the election stuff, and if i start seeing a change in the election, if there's any chance that trump's not re-elected, i'm going to start really lightening up on my portfolio, moving to cash. when obama was running for
9:08 am
office, and the probabilities of obama becoming president were rising, rising, rising, the stock market was crashing, crashing, crashing. the stock market sees things very clearly that individuals have a very hard time seeing and remember, the stock market looks at what will be, not what has been. so when you are in march of 2020, that's when you start wanting to see what the market is seeing going forward. it's a very frightening thing if they continue with these investigations, god knows what can happen. i was very involved not personally, but very involved watching the nixon one, the reagan one, all of those are terrible, terrible processes. i just hope to god we have it done with. stuart: but we have a graidlockd congress. if you are calling the man names, you aren't getting much done. i'm thinking of the usmca, the replacement for nafta. if that doesn't go through because we are investigating everything and bad-mouthing the
9:09 am
president, that's a problem. >> it is a problem but you know, we have gotten so much done, there's a good -- i mean, the president got that tax bill from deregulation monetary stuff, he's doing the negotiations on trade. you know, there's nothing wrong with letting a period go and letting this stuff really work its way through the economy. that tax bill and those deregulations are really working wonders for this economy. it's amazing, especially in the poor, the minorities, the disenfranchised, those people who had been overlooked by the obama and "w" administrations now are coming back into their own. i think it's just spectacular watching and feeling and enjoying this really prosperous economy. stuart: but that's why you look so great at the age of 78. you are enjoying life. >> you guys look great, you guys are having so much fun and everything. i just wish i live in new york and could come and be in studio with you. stuart: that will be the day. when you pay new york city taxes. get out of here.
9:10 am
>> i'm working on ashley to move fox to nashville. i don't know why you guys don't do it. stuart: we are thinking of naples, florida. thank you very much indeed. we will see you soon. great guy. look at this. more money coming in at twitter and look at the stock. it is 7% up. that's a prime performer today on these profit reports. look at jet blue. their profit went up nicely, 2% higher. that's jet blue. i'm going to show you the price of oil, only as it relates to the price of gasoline. we are at $65 a barrel right now but look at gas. we are at $2.84, creeping up a fraction of a cent overnight. we are going to have on this program today a solid forecast of $3 gas soon. i think -- ashley: around the corner. stuart: quickly to the futures again. we are going to be up 30, 40 points at the opening bell. there you have it. that's in 20 minutes' time. we have an inspirational story for you. remember that marine, ran the boston marathon, hit the
9:11 am
proverbial wall at the end? instead of quitting, he crawled, there he is, he crawled across the finish line? what a performance. that man on this show, later this hour. senator bernie sanders at the cnn marathon democrat town hall, he called israel's president netanyahu a racist. you will hear that. and we've got some reaction, too. kentucky republican congressman andy barr invited aoc to tour a coal mine in his state. then he took back his invitation after aoc insulted another republican congressman. well, aoc says she's still going. we are going to hear from congressman barr after this.
9:12 am
9:13 am
♪ ♪ ♪ ♪ ♪ ♪ ♪
9:14 am
♪ stuart: joe biden may delay his announcement that he's running for the presidency. when is he delaying to and why is he delaying? ashley: it's the strategy of a tortoi tortoise, the wait and wait strategy as opposed to wait and
9:15 am
see. there was conjecture he was going to announce wednesday but for whatever reason, we don't know why, he's decided not to. who knows what he's going to do. now there's conjecture maybe thursday. but this continual waffling is starting to anger some people, saying are you in, are you out? the theory at the beginning was he didn't want to get into the middle of the fray. there's 19 people now into this race. he was going to work behind the scenes, get everything in place, then leap into it. that has not happened. we had the allegations of him being a little too hands-on with his, you know, in politics, and that has hung over him with regard to what these claims of women that have come forward. so he's waited that out a little bit, even though i don't know whether he's really answered all of that, hasn't really given an apology, but he was supposed to have announced last week. then he was going to be this week. then it was going to be thursday. who knows, to be honest with you. he is starting to frustrate some people saying it's about time, if you're in, you're in. stuart: he's trying to figure out where he stands on
9:16 am
impeachment, i think. ashley: one of many things he's trying to figure out. stuart: thank you, ash. now, kentucky congressman andy barr invited aoc down to kentucky, have a look at a coal mine and see what your green new deal is going to do to it, and us. well, he balkwalked back the invitation but aoc is coming anyway. congressman barr joins us on the phone. congressman, she uses social media, she uses the media, period, very well indeed. i suspect that she could really give you a hard time when she gets down there. >> well, stuart, just to clarify, we did not walk back the invitation. in fact, we continue to renew the invitation. the problem is that representative cortez refuses to give us a date. we have not heard from her office when she would like to come. we have given her options for dates to come. we initially reached out after my original invitation on march 27th. we asked her to give us some dates when it might work for
9:17 am
her. yesterday we reached out again and we told her to let us know. we want her to find out what the real world impact of the green new deal would be. stuart: you are running the risk, she handles social media very, very well. she could walk down there and just, you know, really walk all over you. you know that. >> you know what, you can't back down from socialists, stuart. you have to, look, if we believe in free enterprise and capitalism, as i do, and if we understand the intellectual bankruptcy of socialism, which i do, we need to be proactive about it and explain why $93 trillion in additional costs on the u.s. economy is a bad idea. the green new deal would cause another great depression in our country and we as supporters of capitalism and free enterprise need to be bold and need to lean into that reality. stuart: okay. i look forward to it. i hope it happens. i want to hear more about this.
9:18 am
let's see the confrontation. it's going to happen. congressman barr, thanks very much for joining us. we really appreciate it. i hope she comes to see you. >> i hope so, too. we are waiting for her to confirm and we will take her and show her what the great work that men and women in the fossil energy industry are doing to power america. stuart: give us the date when you get it. thanks very much, congressman barr. back to your money. we have picked up a little ground here for the futures market. now we are up about 50, 60 points for the dow, 12, maybe 15 for the nasdaq. how about this one. a game changer for law enforcement. look, it's a company called hound labs. they have developed a breathalyzer test for marijuana. if you are driving high, they can catch you. we will tell you how it works, after this.
9:19 am
comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. there are roadside attractions.
9:20 am
and then there's our world-famous on-road attraction. if you've never seen yourself in a mercedes, you've never seen these offer. lease the 2019 glc 300 for just $479 a month at the mercedes-benz spring event. hurry in before april 30th. today's senior living communities have never been better, with amazing amenities like movie theaters, exercise rooms and swimming pools, public cafes, bars and bistros even pet care services. and there's never been an easier way to get great advice.
9:21 am
a place for mom is a free service that pairs you with a local advisor to help you sort through your options and find a perfect place. a place for mom. you know your family we know senior living. together we'll make the right choice. mno kidding.rd. but moving your internet and tv? that's easy. easy?! easy? easy. because now xfinity lets you transfer your service online in just about a minute with a few simple steps. really? really. that was easy. yup. plus, with two-hour appointment windows, it's all on your schedule. awesome. now all you have to do is move...that thing. [ sigh ] introducing an easier way to move with xfinity. it's just another way we're working to make your life simple, easy, awesome. go to xfinity.com/moving to get started.
9:22 am
stuart: all right. the name of the company is hound. >> h-o-u-n-d, hound labs. it says it makes the first dual alcohol and marijuana breathalyzer. come on in, co-founder of the company, mike lynn. okay, mike, welcome to the program. first of all, can your pot breathalyzer give me an instant analysis of how much thc i've got in my system?
9:23 am
>> yes. that's exactly what it does. the hound marijuana breathalyzer measures thc, the stuff that gets you stoned, and measures it in breath. it only stays in breath for two or three hours after someone smokes, then it's gone. the whole notion here -- stuart: sorry to interrupt you, but if you smoke marijuana two or three days ago or even yesterday morning, i take it it would not show up on your breathalyzer? >> that's correct. that's exactly the point. stuart: is there a legal limit, a legal definition of being stoned? how much thc in your system is actionable, so to speak? >> so it depends on the state but it's illegal to drive impaired in all 50 states. whether you are impaired by marijuana or by alcohol, it doesn't matter. that's clearly illegal. the actual -- stuart: what is the definition, what is the limit then that says you are impaired? go over that limit and you're impaired? what is that limit?
9:24 am
>> in some states, stuart, the limit is based on blood levels above five nanograms. in this case we are changing that, so in breath, where marijuana only stays for a couple of hours, there is no legal precedent yet for it. what will happen is that we give objective data to the police officer at the roadside or to the employer at the workplace that says hey, that person that you just measured has thc in their breath, we know that that means they used in the last couple of hours, and that's the time that people are most likely to be impaired. and the flipside is true, too. it's not in your breath so therefore the person is very unlikely to have used very recently. stuart: have you sold, i don't know what you call your breathalyzer, have you sold it to anybody, any police officers, any police forces? >> so the hound breathalyzer will be commercial later this year, and at multiple law enforcement agencies have tested it and we are also -- we are in the process of commercializing it so it will be out on the streets and in the workplace later this year. stuart: i didn't check, i should have, are you a publicly traded
9:25 am
company? >> no. we are a venture-backed startup. we have been at it for six years, backed by institutional investors, benchmark capital as well as icon ventures. stuart: this is a very interesting development. let's see how this progresses. come back and see us what you've sold some of them and it's actually in service. mike lynn, hound labs, thank you for joining us. appreciate it. >> thank you. stuart: have a look at futures. this tells you how we will open the market this morning. up again maybe 50 points for the dow and now maybe 15 or better than that for the nasdaq. market opens, let's see, in about just a couple minutes. we will take you there. back then, we checked our zero times a day. times change. eyes haven't. that's why there's ocuvite. screen light... sunlight... longer hours... eyes today are stressed! but ocuvite has vital nutrients to help protect them. ocuvite. eye nutrition for today.
9:26 am
when it comes to type 2 diabetes, are you thinking about your heart? well, i'm managing my a1c, so i should be all set. right. actually, you're still at risk for a fatal heart attack or stroke. even if i'm taking heart medicine, like statins or blood thinners? yep! that's why i asked my doctor what else i could do... she told me about jardiance. that's right. jardiance significantly reduces the risk of dying from a cardiovascular event for adults who have type 2 diabetes and known heart disease. that's why the american diabetes association recommends the active ingredient in jardiance.
9:27 am
and it lowers a1c? yeah- with diet and exercise. jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. ketoacidosis is a serious side effect that may be fatal. a rare, but life-threatening, bacterial infection in the skin of the perineum could occur. stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. do not take jardiance 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. 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done.
9:28 am
and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ )
9:29 am
stuart: walt disney's granddaughter abigail calls ceo bob eyeing iger's pay package i. susan: he's making $65.6 million, yes, that's a very large sum. probably requires a higher voice as well. she says it's ridiculous because bob iger earned 1,000 times, 14,024 times more than the median disney employee last year. she says iger could have given a 15% raise to every disney
9:30 am
employee and still pocket $10 million. it's insane he's making 1400 times more than the average employee. stuart: he's worth every penny. he's one of the best ceos in america and has added enormously to disney's stock value. here we go, we have opened on the downside. can't quite understand that. we are down five points -- okay, now we are up 26. they are opening up gradually. so far, we are on the upside, not by very much, fractional gain for the dow in the very early going. how about the s&p 500? where is that this morning? same story. a fractional gain. i'm sure that's true of the nasdaq as well. fractional gain, is it? yes, it is. a bit better, .14%. okay. so technology looks to be doing well this morning. four dow components have reported before the bell. start with coca-cola. top of the screen. sugar-free drinks selling well. the stock is up.
9:31 am
next one, procter & gamble, they have got their strongest sales growth in eight years, but slower baby care sales in china. that's upset them. the stock is down two bucks. ashley: all it takes. stuart: aerospace sales at united tech, strong. stock is up two bucks. verizon, they say they are going to make more money down the road but the stock is down a buck. ashley: spending a lot on 5g this year. stuart: that's it. ashley: lot of added expense. stuart: spend it, boys. 5g is coming. twitter reporting before the bell as well. strong revenue. look at that. a near 10% gain for twitter. it's down to $37 a share. lots to go at this morning. let's bring in d.r. barton, mike murphy, susan li, ashley webster. mr. murphy, to you first. profits look real strong to me at least, up over 5% compared to last year. we are going to go to new highs? >> we are going to new highs. profits are very strong. remember, also the bar had been
9:32 am
lowered going into this earnings season. so the bar is easier to clear but just the fact that it's a lower bar is one thing. companies are actually coming out like you saw twitter this morning, they are coming out with some blowout quarters. companies are doing great. that's more profit for the markets. ashley: 20% of the s&p reported profits up 6.1% so far. stuart: they were supposed to be down 2.3%. we have beaten that. okay. ashley: so far, so good. stuart: new highs soon? >> new highs very soon. much more encouraging, i think, is that revenues are beating by more than profits. that's a key thing. that's growth, not just financial things. so that's really encouraging. stuart: now tell me about facebook and microsoft. they report on wednesday afternoon. amazon, thursday afternoon. all three of these huge tech companies have had a nice run-up in advance of the official numbers. the market's expecting a good deal here. s&p mu
9:33 am
susan: much of the heavy lifting has been done by these technology names and sales are expected to increase 20%, the likes of amazon, facebook and the like. compare that to 3% for the rest of the s&p 500. you know where the growth is. people are willing to pay up for it. yes, it's an overcrowded trade but there is still more upside potential. stuart: they are still running strong, big tech names, still strong. >> i think the difference there, you have amazon and microsoft, they are both focused on the cloud. they will continue to see a lot of growth there. facebook, we talked about, i don't own the stock but that concerns me because it's going to be reliant on the number of people who are on the platform and the ad dollars. stuart: i will have a viewing party tomorrow afternoon at 4:00 to see microsoft. i just want to see it. ashley: you will invite no one, though. it will be you. >> about two quarters ago, we believed that microsoft had no chance for the jedi contract, it was a slam dunk for amazon. they have grown so well and prospered so much in the cloud, they are now in the
9:34 am
conversation. that's a good thing. stuart: you can come to my viewing party. how about that. susan: wow. stuart: how about this one. i was surprised to see this. 82% of retirees are optimistic they can live comfortably in retirement. that is a record high since this annual survey started in 1990. that's because of the stock market. >> that is because of the stock market but stuart, one other thing, it has to do with technology. people can -- are getting smarter about their finances. people have their phones, they have apps, they realize they can't just continuously spend, that they have to save and there's a lot of tech out there, lot of startups that are helping people plan for their retirement. that's a good thing. stuart: thank you, mr. president. susan: can i just note that that number is not 80% for those that are still working. only 67% are confident of their retirement funds and if you take a look at younger individuals, the millenial age or even gen-y, they are not that confident they will be able to enjoy a luxurious fully funded
9:35 am
retirement going forward. stuart: if they would get their 401(k)s in order, if they would get an i.r.a. and start investing in the 20s and early 30s, just put a little bit -- susan: they have to foot the bill for future debt in this country. the onus is on their shoulders and the ones that are retired probably get to enjoy it now. stuart: are you feeling left out? susan: i'm just saying, that's how they feel. that's the outlook going forward. >> i would buy your financial planning book. i thought that was a great appeal to our younger viewers. stuart: i think when you take a new job with a corporation, you should automatically be enrolled in the 401(k). you don't have to request to get in. look what you get. it's found money. okay. end of financial planning. check the big board. we are up 16 points. not quite as big a gain as we were expecting but the dow is up 26,500, about 350 points away from the all-time closing high. look at this. better profit at harley davidson. nonetheless, the stock is down 1%.
9:36 am
the transformers movie spinoff, bumblebee, gave hasbro sales a boost, selling toys related to the movie. look at it. 13% up. >> that was, you have got to remember, they were down well over 60% in the last year. stuart: well said. 13% up today. better profit at jet blue. i think that stock is up nicely, over 2%. a rosy forecast from lockheed martin. that is a dow stock? yes, it is, isn't it? it's not a dow stock, sorry. lockheed martin up 5%. ashley: $133 billion backlog of orders. that's pretty healthy. >> very big company. stuart: price of oil this morning is i think $65 a barrel, right there, $66, it's reached this morning. look at gas. $2.84 is your national average. i think it's on the way to $3. big impact on the economy, do you think? >> no, it's not slowing down the economy at all. the economy is fine. it's too strong for gas prices
9:37 am
at $2.80 to $3 to affect. stuart: okay. $3 gas, i think we will get there. $66 on oil. right. tesla's chief elon musk promises a robot fleet of tesla taxis by the end of next year. susan: wow. ashley: here we go. stuart: down five bucks at $257. pass judgment. >> i respectfully disagree with elon on this one. i don't see how it's going to be happening in a year or two years or three years. it just seems to me like he's trying to appeal to buyers. stuart: i think so. susan: also, misdirection and distracting away from the main problems at the company according to an analyst today. no way he will deliver 100 million. stuart: on the left-hand side of your screen, those are dow stocks. three of them at all-time highs. disney has gone to $133, almost $134. mcdonald's is at $194.
9:38 am
microsoft is at $124. all record highs, all dow stocks, obviously helping the dow move up 25. here's a story i'm interested in. beyond neat. they make plant-based meat substitutes. soon you can own a piece if you wish. it's going public. ashley: piece of meatless whatever. stuart: would you buy it? >> i would buy it along with their big competitor in possible foods. we talked about it a couple weeks ago. for science, i did a taste test just this week. stuart: and? >> they are amazing. it's very difficult to even figure out which is the beef and which is the replacement burger. they have done an amazing job with the science. i like the impossible burger a little better. but this is a buy. they are both a buy. stuart: you are a chemical engineer. >> yes, sir. stuart: that's why you did the taste test. ashley: and a foodie.
9:39 am
>> the last round of funding for beyond meat was $1.3 billion. they are talking about the ipo right in line around $1.2 billion. for people watching at home, they do get an opportunity if they believe in the company to buy it at a $1 billion valuation and hope to get upside by owning the publicly traded stock rather than jumping into something when it's $30 billion or $40 billion and how much upside is left in it. susan: is it worth $1 billion with $87 million in revenue last year? those are big multiples you are paying up for. i should point out the meatless market is worth around $35 billion. there could be a big market. >> 10% of that market would be $3 billion in revenue. you would get a steal by investing at $1.2 billion. stuart: it's terrific you get the opportunity to invest in directly some of the big trends in our society, whether it's lyft and uber or beyond meat people. look, you've got the chance
9:40 am
here. that's what capitalism is all about, isn't it? >> take it or leave it. you have got the opportunity. stuart: i want to taste this stuff. i want to try it. where's the beef? remember that one? clara peller. it's 9:40. that means mike and d.r., gentlemen, all good stuff. next case. check the big board. we are ten minutes into the session and up 25, nearly 26 points. 26,538 is where we are. three stocks hitting all-time highs. moving the market nicely. disney, mcdonald's, microsoft, staying at all-time record highs. disney, mcdonald's, microsoft. senator elizabeth warren laying out her plan for free college and student debt relief. if you make less than $100,000 a year, she will forgive $50,000 worth of your student debt and she wants to pay for it all by confiscating the wealth of the rich. how does that sound?
9:41 am
softbank founder made a big bet on bitcoin, lost his shirt. we will tell you how much he lost on that crypto currency. the trump administration offering $10 million, a bounty, for information that could disrupt the extremist group hezbollah. trump's going after their money. details coming up. here we go. "varney & company." (sobbing) (speaking in foreign language) i'm sorry i don't understand... ♪ help! i need somebody ♪ help! not just anybody ♪ help! you know i need someone
9:42 am
9:43 am
♪ ♪ stuart: now up 36 points for the dow. modest gain across the board for stocks this, what day is this, tuesday morning. the founder of japan's softbank lost big-time on bitcoin. okay. how much did he lose and how did he lose it? susan: he lost $130 million.
9:44 am
he bought in when bitcoin was rallying up at $20,000. it's now trading at $5,000 so he sold in january 2018. he lost a bit. but don't forget, he's worth $19 billion. this is how he operates, right. he shoots for the lights, he bought sprint, he paid for alibaba when it was unheard of back then, so this is the largest shareholder in uber and that should be a pretty good payoff for him. stuart: don't cry for him. susan: it's nothing for a guy like that. stuart: don't cry for me. serious stuff now. bernie sanders called israel's prime minister benjamin netanyahu a racist. watch this, please. >> i just believe that the united states should deal with the middle east on a level playing field basis. in other words, the goal must be to try to bring people together
9:45 am
and not just support one country which is now run by a right wing, dare i say, racist government. israel has every right in the world to exist and to exist in peace and security and not be subjected to terrorist attacks, but the united states needs to deal not just with israel, but with the palestinian people as well. stuart: there you have it. bernie sanders. i think i know someone who's got something to say about that. he's with b2 strategic. have at it. netanyahu is a racist, sanders says. >> according to bernie sanders, it's not just bibi netanyahu, it's pretty much all of israel since the 85% of the electorate just said no to the palestinian state. 100 seats went to parties who reject that idea and ten went to the radical separatist parties. bernie sanders is using netanyahu as a figurehead but is actually calling out a liberal
9:46 am
democratic ally of our country. this is more of the democrats' race to the bottom in terms of who they are putting candidates for this election. stuart: i think bernie sanders has signed on, i'm not sure of this, but i believe he's signed on to the boycott, divest, disrupt israel. in other words, get rid of israel because that will be the end point. he signed on to that. i think he has. >> well, his staff actually, he's hired people for his campaign staff, leaders of the bds movement. you're right, to use economic policies and sanctions and this kind of libels israel, calling its leader racist when it's the furthest country from racist probably in the world and certainly in that region. stuart: bernie sanders was born into a jewish household. not sure his religious status, whether he's practicing or not, i don't know that, but how do you explain that? born into a jewish family and saying this about netanyahu. >> i'm not going to
9:47 am
psychoanalyze bernie because he's also born in america and is a socialist. the fact is that bernie sanders is, you know, he defined himself when he ran last time. it was interesting to me, he defined his family as european refugees from a particular country. he didn't talk about his family as being jewish refugees. most jews i know whose families came running from the nazis, came running from europe even before the nazis to find freedom and sanctuary here in america. bernie never defined his background as jewish. stuart: $10 million as a bounty for information leading to the disruption of hezbollah. that's the white house plan. give me 30 seconds on that. i'm sure you approve. >> more than approve. this is an extraordinary new opening of this law into an area that's vitally important. people may not remember this but there was a tremendous expose, explosive expose in politico of mral all places in 2017 about how the obama administration prevented dea and other american agencies
9:48 am
from exploring hezbollah's ties to they called it rivers of cocaine flowing to this country, hundreds of millions of dollars flowing to terrorism from this country and from around the world. the obama administration kept putting it down. according to officials in these agencies, it was because obama wanted to make sure iran got its nuclear deal. so this is a reversal. thank you, president trump. stuart: all right. jeff, as always, thank you, sir. see you again soon. check the dow 30. we've got a modest gain for the dow overall. roughly 50/50 split between winners and losers among the dow 30. all right. of course, you remember this, i'm sure you do, had it on the show. the marine, wouldn't quit the boston marathon, dragged himself across the finish line on his hands and knees. he crawled across. well, that man is on the show, next. makes it beautiful.
9:49 am
state of the art technology makes it brilliant. the visionary lexus nx. lease the 2019 nx 300 for $359 a month for 36 months. experience amazing at your lexus dealer.
9:50 am
9:51 am
9:52 am
stuart: all right. we're up, let's see now, up 30 points on the dow industrials. that's it. here's an interesting story. credit card companies are spending big on social media ads. gerri willis at the new york exchange, tell me why they're doing this, please. gerri: hey, stuart, that's right. the reason they're doing it is simple. nobody is opening their snail mail. just 1% of the credit card solicitations that go to
9:53 am
americans all over the country result in an application. think about it. that's an historic way credit card companies have gotten to americans, have gotten them to sign up for new cards. not working anymore, so now, take a look at these numbers, they are spending on social media. the budgets are growing very quickly. capital one, for example, six times more spending than last year at $18.6 million. amex, three times more spending than last year. and it's not just ads. they are also paying social media influencers, people with blogs, to talk about their company and their social media posts, if they have 100,000, over a million followers say on twitter, you get money from credit card companies to mention them. i don't know, varney & co has, what, 650,000 followers? might be a stream of revenue. back to you. stuart: don't knock snail mail, by the way, because i'm a big user. i kind of still like that stuff. great story. very interesting. thank you very much for bringing it to us. appreciate it. i'm sure you remember this
9:54 am
moment from the boston marathon. one of the runners, he's a marine, he crawled across the finish line. he was determined to finish, and he did. come on in, micah herndon, that's the man who crawled across the finish line. as i understand it, you had severe cramps right before the end. that was the problem, right? >> yes, sir. right around mile 20, that's where my family was posted up, and they took a video, and as you can see there in the video, my form was terrible and i didn't even bother looking up at them because i was just trying to focus on how i could run more efficiently and to finish the race in a timely manner. stuart: what were you racing for? why did you run the marathon in the first place? >> racing to me, it is a release for me from dealing with my
9:55 am
battle scars that i do carry from serving over in iraq and afghanistan. i do have ptsd and survivor's guilt and it's one of my outlets that i use to deal with everyday and i do run in honor of my fallen brothers that happened over in afghanistan. stuart: it was three fallen comrades, i hesitate to use that word, but three fallen fellow soldiers who died with an ied, i believe. that's what you were racing for, correct? >> that is correct. and i have them with me every time i do run. it's not just marathon races, it's every day that i do train. i do run seven days a week, because it is my therapy. and i do have a pair of shoes here with their names on that my wife got me, the tags. so whenever i do look down and i
9:56 am
am struggling, if i'm tired and whatnot, i do have their memories with me. stuart: did it help, you crawled across the finish line, you made it, you did it. does that help your battle scars heal? >> it does. to help, you know, my ptsd and my survivor's guilt, to push my body to the point of breaking, it gives me that high, that adrenaline, and coming back from war, experiencing those things, that's what i'm kind of, i'm kind of addicted to, is that adrenaline, that runner's high. stuart: we all saw you do that. we all respect and admire you. and we honor you on this program today. sir, you are a good man. thanks for being here. >> thank you for having me, sir. i appreciate it. stuart: we will see you again. all right. this next case. got a new feature coming to starbucks. you won't believe this. needle disposal boxes. we will tell you why they are
9:57 am
installing these things all around the country. new york's mayor bill de blasio, he signed on to the green new deal. he's going after the city's skyscrapers of all things. you are going to get my take on that, like it or not, next. i'm working to make each day a little sweeter. ♪ to give every idea the perfect soundtrack. ♪ to fill your world with fun. ♪ to share my culture with my community. ♪ to make each journey more elegant. ♪
9:58 am
. . i switched to liberty mutual, because they let me customize my insurance. and as a fitness junkie, i customize everything, like my bike, and my calves. liberty mutual customizes your car insurance, so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
9:59 am
10:00 am
stuart: the vote was 45-2. it was virtually unanimous. new york city signed on to the green new deal. this legislation means that all those skyscrapers will have to be renovated, drastically, to make them much more energy efficient. the rich will have to pay for this. far left mayor bill last blast is of course on board with that. the green new deal called for inspection of every building in the country. new york city jumped ahead of the pack. trump tower, the that is it skyscraper, the hate trump locals, that says it uses more energy than nine out of 10 new cities. that did it.
10:01 am
that vast new expense was justified to get at the president. this has mandate not just in new york but has national significance. the green new deal is becoming the biggest, mow important plank of the democrats campaign in 2020. this combines radical environmentalism and socialism, full government control over all aspects of our life, justified by the threat after pock lips in actually years time. many candidates have embraced it. democrat run cities will likely fall in line with new york. just think what that means vast expense. new expense i should say. new boilers, air-conditioning units, windows, insulation. why would anyone build something new in the run down cities when regulations make it impossibly expensive. after spending all this money to renovate, after paying all the
10:02 am
new taxes where is the money coming from to pay for other services like universal health care and guaranteed job for everyone? that is the left says print the money. trillions upon it wills of dollars. just print it. it is truly fantastical economic nonsense and new york has signed on. the population dropped last year for the first time in a decade. the exodus is only just getting started. the second hour of "varney & company" is about to begin. ♪ stuart: we'll bet back to that in a moment. first we're getting breaking news on new home sales. what have we to the? susan: encouraging 692,000 units in month of march. higher than was sold in february by over 30,000 homes.
10:03 am
looks like single home sales up month over month up four 1/2%. that is pretty good. year-over-year is higher as well. as for the sales price, that sales prices he fell 10% from a year ago. 302,000, that is down 10% from 12 months ago. stuart: that is fascinating. ashley: more than two years. stuart: i would like to see a breakdown where those home prices were particularly strong. ashley: u.s. regions but northeast. northeast is struggling. the southeast reached highest level in more than a decade. stuart: that's assault. ashley: there is the migration. susan: midwest was up 17%. stuart: new jersey, new york, that is the northeast, hit heavily by salt. huge tracks increases. they're leaving, not selling homes at a december price. susan: the west was up 7%.
10:04 am
the west has pretty high taxes in. stuart: we have moved up nicely. a gain of 72 points. we're getting close to 26,600. on your screens four dow components which did report their profits earlier. coca-cola. sugar free drinks are selling well. the stock is up. proctor & gamble, slower sales in china and their stock is down. united technologies they came in not too great. but they have a five dollar gain. i will check into that. why is united technologies up so much? that is a 3% gain. stronger aerospace sales i'm told that will do it. verizon spending big roll 5g.
10:05 am
back to my editorial on new york's embrace of the green new deal. good-bye skyscrapers. listen to mayor bill de blasio. here is what he said about skyscrapers. roll it. >> building owners, you have to clean up your act, got to retrofit, save energy. if you don't do it by 2030, serious fines, high as million dollars or more for the biggest buildings. this mandate will guarranty we reduce emissions. we're going to ban the classic glass and steel skyscrapers which are incredibly inefficient. stuart: whoa, ban the classic classic, quite a statement from the city. tome rogan, he is the "washington examiner" writer. politics is involved here. seems the democrats are staking out a position on climate for 2020. what do you say?
10:06 am
>> well they are. it is more than representation, more than the underlying foundation of socialism, that elected officials or officials in political office are more able to better serve the interests of individuals and society by their decisions about how to callow kate capital in contrast to by individuals in communities to allocate capital. stuart: i think that is an electoral loser? >> i think it is but to make it a electoral loser it requires the conservative to speak in the language morality, not anger or ferocity. what are the compliance costs here? what does it mean for lowest paid employees. marginal cost getting a employee in the buildings, cleaners, janitors, cooks, whatever it might be. they are the ones who ultimately
10:07 am
are going to suffer here because nothing is free. the cost will have to be transferred. yeah. stuart: well-said, tom. stay there please. scott shellady is with us. the guy at tjm, the principle at tjm. we heard the politics of it. give me your take what de blasio is doing in new york from a economic standpoint. go. >> i don't think it is very good much my first thought, why does the right let the left own this argument. we all care about the climate. they make it feel they're the only ones, if you disagree with them you're a villain. if you make a lot of money you're a villain. they turn all good into bad. will new york be made out of papier-mache? what will we make the buildings out of. what about the new homes, will we have to refit, repush those at costs of these new owners? these people don't think things
10:08 am
through. go back in history, early as 1965, where we have a lot of smart people a lot of people smarter than i am, harvard think tanks, said the earth would burn up by end of the century. we would have calamitous starvation. all of these things have not come true. it is not come true because of one thing. the left continues to ignore american innovation and how technology takes care of our problems. i'm not saying ignore them. i'm definitelying you between now and 2030 de blasio will not look very smart because american innovation will solve his problems. stuart: scott, the price of oil is $66 a barrel as of this morning. 66.11 to be precise. to me that means three dollar gas this summer, what about you? >> sure it could go higher than that the path of least resistance, stuart is higher. geopolitical stuff, nigeria, venezuela, causing things to rally a little bit here.
10:09 am
we come off the lows. we were $31 lower. we rallied back $21. not unlike the markets to see things kind of criticallize here. i just don't think the market will rip your face off and go a lot higher. i would say i would expect gasoline to trade between $3 and 3.50 a gallon at highs. we'll not go crazy or run away with prices. stuart: scott shellady, cow guy, still wearing his jacket. come back in again, tom rogan. joe biden expected to announce his campaign sometime this week. it has been delayed, wednesday, might be thursday. you think the biden is the best person to unify the democrats? >> well i think he is the best place to do that in the sense of also being able to effectively contest the president in the general election. the reason that i say he is the best place in terms of unity candidate is the fact that the democrats obviously with so many
10:10 am
different candidates need someone who comes in with preexisting credibility. as president obama's right-hand man, biden has credibility at the political level. he is also someone who says look i understand the identity politics issue. i stood next to the first african-american president in our history. i think the challenge for democrats, however, they need to find someone who can balance that ability, however marginal, with a candidate who can be perceived by the electorate as someone who is not crazy effectively because a lot of the policies that we're seeing now are to the left even of european socialist policies. so i don't think that is going to be a vote-winner in the general election. stuart: you and i both have british accents. we both experienced european socialism. i think both of us are absolutely astonished that the american left should move to the left of the european left. absolutely astonishing really. >> it is. stuart: it is.
10:11 am
tom, thanks for being with us as always. see you again soon. >> thank you. stuart: i got a tweet for you from president trump. strange tweet. look at this. do you believe this? "the new york times" op-ed media and democrats owe trump an apology? well they pot that one right, end quote. later this hour we'll talk to the man who wrote that op-ed. he will be on the show. plus a new york teen suing apple for a billion dollars. he says apple's facial recognition software wrongly led to his arrest. now there is a story. stuart: someone said illegal immigration costs our economy more than 100 billion bucks a year. we're breaking down the numbers for you as the second hour of "varney & company" rolls on. ♪
10:12 am
10:13 am
♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
10:14 am
10:15 am
stuart: 45 minutes into the trading session. we're up what, 60, 65 points. modest gain. look at this they're up big. sell a lot of toys related to the latest transformers movie. the stock is going 15% higher. how about that. starbucks installing needle disposal bathrooms in seattle. i want to know why? ashley: because the employees are very scared of getting stuck by hypodermic needles. they don't wear gloves to protect them. they could be infected with hiv or hepatitis. the protocol would be immediately to visit a hospital, urgent care unit for testing and treatment this ace real problem. they have installed boxes in 25 u.s. markets. it will cover all of the starbucks, that request them by the summer of this year. it was a case in oregon where two separate employees were
10:16 am
stuck. there was an investigation and starbucks was fined and now there is petition among starbucks employees you need to put the boxes in place. to reduce our risk. stuart: this is a mess. they have to deal with it. understandable. >> absolutely. >> the headline hits you, sounds dreadful. ashley: big problem. stuart: our next guest says illegal immigration costs america $116 billion each and every year. kristin tate's with us, columnist for "the hill." where did that number come from? can you break it down? 116 billion? >> well, sure, i first want to say, stuart, as you know i'm a libertarian, so i want more immigrants coming into this country, however we cannot afford millions of people coming to this country dependent on u.s. taxpayers. illegal immigration poses staggering costs to federal, state and local budgets. now that 116 billion-dollar
10:17 am
figure was derived by subtracting the total tax revenue paid by illegal immigrants which was around $19 billion from the total impact of illegal immigration. illegal immigrants are net consumers of taxpayer-funded services. the relatively small amount the population pays in taxes doesn't come offset increasing costs burdened imposed on taxpayers. stuart: that is illegals, 116 billion-dollar cost per year. legal immigrants, there is a million per year, i don't believe they have a net cost to the country. i don't think they do. >> well, when you look at non-citizen households they actually use welfare at much higher rate than citizen households. non-citizens, about half of them rely on medicaid compared to 23% of u.s. citizens. about half rely on food stamps. as the great mill ton friedman said you can't have free immigration and a welfare state. stuart: right.
10:18 am
>> libertarians would say the problem is not open borders, the welfare state itself. let's build the wall around the welfare state and not the nation. philosophically i agree with that. we can't open the borders and let people in without walling off the welfare state. stuart: new york population decline, first time in a decade. is this because of taxes? >> i think it is, stuart. new york city is the most expensive city in the country. residents pay up 50% of their paychecks through a combination of federal, state, local taxes plus other taxes baked into other consumer practices. these cost become so large that consumers and corporations jump ship. the largest portion are middle and high income earners, they're going to lows taxed
10:19 am
jurisdictions like florida. the exodus is so significant, earlier this year new york governor andrew cuomo announced a unexpected budget deficit of $2.3 billion. unfortunately the problem will get worse. by the way, not just happening in new york, but blue states across the country. stuart: i think it gets worse. i think it gets a lot worse because now we're feeling the impact of salt, limitations on deductibility of state and local taxes i think it is gets much worse. >> the liberals respond by doubling down increasing taxes an fees rather than lowering the state and local tax burdens. it is grades sy about it. stuart: tell me about it, new jersey is imposing new taxes, new fees, all across the board. they're running people out of town. that is my opinion. kristin, thanks as always. great to see you again. >> thank you, stuart. stuart: speaker pelosi says now is not the time to talk about impeachment but that is not going to stop democrats from going after the president for
10:20 am
the next 20 months. next we'll talk to senator cassidy. will congress get anything done in the era of constant investigation. we'll ask him. ♪ ♪ so you're planning for retirement. ♪
10:21 am
what comes next? retirement? after that. after retirement? after planning for retirement. oh... retirement.
10:22 am
comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast.
10:23 am
stuart: it is not a huge rally but we'll take what we've got. it is up 50 points on the dow, 26,560. there are three dow stocks hitting all-time highs. look at them. disney reached 133, almost 134. mcdonald's is at 195. microsoft is well above $124 a share. dow stocks, record highs all. democrats are still pushing,
10:24 am
they're going to push for investigations of the president for the next 20 months. that is all you got investigation everything. on the phone louisiana senator republican bill cassidy. mr. senator, this will be 20 months of endless investigations. my question is, can anything get done and passed through congress? >> yeah. i think it can be. by the way, i kind of smile. democrats took back the house of representatives, never talking about impeachment, saying that they wanted to do that which was good for the country. and here we have infrastructure that needs to be repaired. we have drug prices that are too high. we have health care that cannot be afforded. i could go on and instead they're focusing on impeachment. obstruction if you will, of a crime that did not occur. it is crazy. hatred of donald trump is motivating motivating that party more than the good of american people. stuart: mr. senator, we're a financial program, to us, usmca, replacement for nafta, that is
10:25 am
very important issue. it will be put before congress we believe. it is very important that that pass. will it pass in a congress that is weighed down by investigations? >> well i sure hope it can. clearly the president has done his best to try -- belt of the united states. those are obviously represented by a union. so i'm hoping that those unions will weigh in with the democratic party saying this is not about partisanship. it is about how we get working folks in our country who really didn't do well under the last eight years before president trump, to get them doing well once more and i think that is the hope of this bill. stuart: what other bill do you think has a very good, strong chance of going through? >> there is actually some bipartisan stuff on health care and stuff that just makes sense. what about price transparency? so the individual knows the price of an x-ray or a brood test before she gets it done, as
10:26 am
opposed to get the bill six weeks later, oh, my gosh, how much did this cost? related to that, surprise medical billing. on the senate side we have bipartisan effort to address that kind of bill, you go to in network hospital and get an out of network bill for tens of thousands of dollars you should not get. we're working on a bipartisan basis on senate side. i'm hoping that the house can respond. stuart: we hope, we wish you well on this, mr. senator, because i just paid $1400 for a blood test i didn't particularly care for that. mr. senator, thanks for joining us. we'll see you again soon. that is a promise. >> thank you, stuart. stuart: now we know who is the highest-paid world leader. we know and we will tell you in our 11:00 hour. i have got a hint for you. ashley: i want to know. stuart: it is not president trump. ashley: okay. angela merkel? stuart: i don't think so. social security problems are getting worse. it is going to pay out more
10:27 am
money than it takes in starting next year. what a story, we're on it. we're back in a moment. ♪ i'm working to keep the fire going for another 150 years. ♪
10:28 am
to inspire confidence through style. ♪ i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ at adp we're designing a better way to work, so you can achieve what you're working for. ♪ but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands?
10:29 am
metastatic breast cancer is relentless, but i was relentless first. relentless about learning the first song we ever danced to. about teaching him to put others first. about helping her raise her first child. and when i was first diagnosed, my choice was everyday verzenio. it's the only one of its kind that can be taken every day. it gives us more time without cancer progressing. verzenio is the only cdk4 & 6 inhibitor approved with hormonal therapy that can be taken every day for postmenopausal women with hr+, her2- mbc. diarrhea is common, may be severe, or cause dehydration or infection. before taking verzenio, tell your doctor if you have fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. serious liver problems can occur. symptoms include tiredness, appetite loss, stomach pain, and bleeding or bruising.
10:30 am
blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain, rapid breathing or heart rate, or if you are pregnant, nursing, or plan to be pregnant. common side effects include nausea, infections, low blood cells and platelets, decreased appetite, headache, abdominal pain, tiredness, vomiting, and hair thinning or loss. my relentless reason: it's them. my choice with my doctor: it's verzenio. ask your doctor if everyday verzenio is right for your first treatment. ♪ stuart: hey jude. yes, hey jude. this meets with your approval, susan? susan: yes. stuart: hey jude. which soccer team plays that? gotcha. ashley: liverpool. man city. it's a universally used song by
10:31 am
many teams. stuart: staying on the brits, conservative british parliament members are trying to get theresa may, the prime minister, out. so who is coming in? ashley: well, the favorite right now, believe it or not, the surging favoritism is towards boris johnson. they believe mrs. may will be replaced by a true brexit tear. there he is. he is the bookies favorite. last odds were four to one boris will take over. the conservatives are very worried, not only brexit is delayed until october, but in recent polls they have been as low as 23% among all, believe it or not, nigel farage's brexit party been in existence for 12 days has surged when it comes to the european party elections, well above conservatives and labour. there is a lot of split politically in the uk and the conservatives are feeling the brunt of it because of the way brexit has mishandled.
10:32 am
stuart: a split any think you're putting that mildly. ashley: and then some. stuart: did we get news on president trump going to britain? ashley: he is finally going to go. speculation will be june 3rd to the 5th and with queen elizabeth and melania. all the pomp and circumstance. they will stay at buckingham palace and windsor or maybe a night at each. this will be part of the 75th anniversary of d-day events. there are many ceremonies which mr. trump and the first lady will take part in. there will probably be a state banquet. the big question, will mr. trump speak to parliament. mr. obama did. as did president bush. there is speculation that john burkor will say no. he has veto power. some lawmakers many americans gave their lives on second world war and d-day. it would be absolutely appalling if the president wasn't allowed to speak to british lawmakers.
10:33 am
stuart: will he ride in the open carriage. ashley: he wants to. i wish i was a fly on the wall for that one. susan: aren't there benefits for both as he kicks off his re-election campaign. trying to negotiate the one-on-one trade deal. ashley: they can't, because they're still stuck in the eu. susan: lay the groundwork. stuart: they can talk about it. they can talk about. come june the 3rd they will be talking about it. bilateral trade deal i certainly hope. stuart: a gain on the dow industrials. about 60 points. there you have it, quarter of one percent on the upside. look at amazon, facebook and microsoft. in the next two days they report their earnings. all three of those stocks have gone up significantly as we approach their official profit report. look at them go today. here is a surprise. 82% of retirees feel confident about their finances, that they will live comfortably in retirement. that is a record high, 82%. however, of course that is private pensions. on the public side, social security that is going
10:34 am
into the red starting next year. that means it is paying out more than it is bringing in. peter morici, economist, joins us now. there is a switch. private pensions doing well, public pensions not doing well. what do you make of that? >> well the stock market is up so people are feeling good about their tax sheltered accounts. i don't know how good they should feel if they did the math, however, with social security, the compounding effects of a declining birth rate and slow growth for the last two decades. there is not enough money in the kitty because there is not enough wages and taxes being paid. the only real options we have require people to work longer, pay higher taxes. higher taxes could make things worse, even slow growth more. people should really work until they're 70. stuart: so your solution would be raise the retirement age to 70 from its current 66? that is the mainstay of the change? but would have to be some way in the future, wouldn't it? >> well, it would.
10:35 am
we're increasing the retirement age to 67 one month at a time. it is going to stop at 67. we should keep on going. anybody below the age of 50 should work until they're 70. accelerate the process. index it to the life expectancy of 70-year-olds at that point. you simply can't have a world where people don't go to work until 25, because of college, graduate school and all rest, work at 65, average work life is short. average 65-year-old is looking at very long life expectancy. stuart: i'm glad to hear that since i turned 70. thank you very much, peter. i have one more for you. some cities, philadelphia are banning these cashless stores, like the amazon cashless stores. they're just banning the whole concept. what do you think of that? >> we used to have ludites that would demonstrate against automation. now they run cities. reality cash is pain in the neck. it's a security problem.
10:36 am
lots of businesses want to go cashless. it makes sense, possible to put a credit card or payment card in hand of every american. what do we do with food stamps? it's a payment card now. that can easily be expanded so people put other benefits on it to deposit money. cash is less secure. you have to have brinks trucks, all the rest. a shame, state of massachusetts has right to pay cash law prohibits amazon from opening one of those cashless stores, which really is quite innovative. saves a lot of costs. it is just much more secure. also in a cashless world, tough on the drug dealers. stuart: that's true. we should let consumers decide for themselves. >> you -- stuart: you want to pay with money? what do you want? >> i wrote an op-ed yesterday, said leave it to the free market. stuart: yes. >> we shouldn't compel merchants to take cash if they don't want to. stuart: got it. peter, see you again soon.
10:37 am
look at this. this is the headline from an op-ed in "the new york times," in "the new york times"! barr is right about everything. that would be william barr, attorney general. admit you were wrong. in that piece the author says the media and democrats should apologize to the president. he was still published in "the new york times." christopher buskirk wrote it. the editor of american greatness and its publisher. he joins us now. chris, i'm astonished that "the new york times" printed it but i really like your opinion. go. >> well i appreciate that. it's, it was published last thursday night. i'm still waiting for the apologies to start rolling in. i haven't counted any yet. stuart: why, basically saying that some politicians and some media people should apologize. why? >> well, because for the past two years i mean, actually it is over two years now we've been
10:38 am
treated to this cavalcade of accusations against the president, they're scandalous, scurrilous and most important they're all wrong. look at chiron on cnn, msnbc, every single day it is some accusation. then they have got this thing says, well, this is going to do it. it is trump's last days. all based on this phony collusion narrative. it wasn't true. robert mueller, a deem of democratic prosecutors were not able to find collusion. guess what? people were pushing the story for two years, dividing the country in a way it hasn't been divided since the late '60s, early '70s. they were wrong. in time of honesty and professionalism, mueller did his investigation and we goofed. stuart: have you seen anybody walk back any comment at all? >> not only seen anybody walk back the comments, only thing i see people trying to double down
10:39 am
on them. the first rules of holes, when you're in one stop digging yet people seem to be ordering more shovels. stuart: chris, did you go to the "times" say publish this, or did "the times" come to you what about this, publish? >> so i write a monthly column for them. it was an idea i pitched to them. they thought it was interesting and provocative, they ran with it. stuart: kudos to the "new york times" for actually publishing it, do you agree with that? >> i certainly do, yeah. stuart: what's next for you? >> you know, i think i want to follow up on this story especially when the inspector general's report comes out either next month or in june because there is going to be a lot of interesting things in there where about where this hoax started, about where the fusion gps dossier came from. i think we need to push on that and find out where did all of these, where did all of these accusations come from? who paid for them. who broke the law? stuart: i'm waiting for an apology from cia guy
10:40 am
mr. brennan. i don't expect that. >> i am too. stuart: we all are. chris, that was a great article. thanks for being with us today. >> thanks a lot. stuart: a teen suing apple for a billion dollars over a wrongful arrest. susan, take me through it. susan: the 18-year-old is suing apple for the facial recognition software that they use in their stores. this led to the false arrest. basically what happened, he lost a non-photo driver's license i.d. someone picked it up, started using it as they went through multiple stores across the u.s., including manhattan, boston, new jersey, delaware, stealing a lot of apple material and merchandise from their stores. so what happened was the stores entered bah's details but obviously a picture of a wrong person. so they entered this into facial recognition software across the u.s., basically and so this led to the arrest of this teen. even though some of these incidents took place, one in boston when he was attending his
10:41 am
prom here in manhattan. so i guess he is basically suing apple because of what they call orwellian surveillance that consumes fears. stuart: facial-recognition technology got it wrong. >> when are you aware your face is being analyzed by, by the software anyways? when did i consent to this when i walk into an apple store? i'm not sure i did. stuart: you walk into almost anywhere you're on camera somewhere. it leads to arrest. we can ask the judge. evidently it is not illegal. thank you, susan. >> measles outbreak, it is getting worse. it is now on pace to the reach the highest level in more than two decades. 71 additional cases have been confirmed just in the last week. 22 states now reporting measles cases. president trump taking a hard-line against iran, venezuela and cuba. he is using oil as his weapon. he is betting we can make up the
10:42 am
difference with fracking, our own american oil from fracking. we'll have more on that. that is coming up next for you. ♪ cooper! did you eat all of your treats? ♪ help! i need somebody ♪ help! not just anybody ♪ help! you know i need someone 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ )
10:43 am
the day we'll finally get something done. ♪ ♪ our new, hot, fresh breakfast will get you the readiest. (buzzer sound) holiday inn express. be the readiest.
10:44 am
10:45 am
up. up. down. down. ah ah! that's one. up. that's two. down. down. get down, get down. stuart: dow is up 65, 26,567. exactly one quarter of 1% up. stocks across the board higher today. the white house stopping countries, all of them, from importing any iranian oil. in other words, the iranians, you can't export anything. van hipp is with us, american defense international chair. all right, van, seems to me the president is using oil as a weapon, both against iran, against venezuela and against cuba as well. it's a weapon that works. what do you say. >> it is working and how this president negotiates. what he is trying to do not only cut iran's exports to zero, in
10:46 am
so doing, that has been their big cash cow. that is how they make most of their money. by drying that up i think the president is trying to bring iran back to the negotiating table to get a better deal for the american people as far as their nuclear activities are concerned. get them to end the ballistic missile program, stop ballistic missile testing. don't forget a couple weeks ago the president also declared iran's revolutionary guards as terrorist organization. he is putting max pressure on the regime. i think it is working. don't forget, other than china who is the great enabler the last 30 years for north korea, paying them cash and oil, helping them finance their ballistic missile program and nuclear program, iran. this is all interconnected. stuart: kim jong-un, north korea's leader, he is holding a meeting with putin, russia's leader. i think it takes place on thursday. i think it's in russia.
10:47 am
tell me what is going on with that? >> kim jong-un just a couple hours ago arrived in vladivostok, in the extreme earn part of russia, very close to north korea's border. basically, stuart, kim jong-un has his hand out. our sanctions are also working on him. i think is trying to send a message to the trump administration he is not isolated but he is. because i predict right now he will not get a dime from the russians. they also have sanctions against them. they don't want to violate the sanctions. they will probably violate a few of the minor ones. they know they're on the world stage. what russia wants, what putin wants, stuart, they want want te seen as a player there in the pacific rim, there in asia and kim jong-un he needs cash. russia and putin have to ask themselves one question. how many deadbeat tyrants do i give credit to?
10:48 am
maduro's regime owes them billions of dollars. he will never see a dime of that. in the end no cash for kim jong-un. stuart: you summed it up nicely there. deadbeat dictators, i will use that expression if you're not careful. van hipp, thank you, sir. >> thank you. stuart: yes, sir. one fast-growing company is sending, wait for it, wait for it, 3d printed rockets into space. for the first time one of those rockets printed by 3 d technology will carry the satellite. the 3d "rocket man" will be up next. ♪ you wouldn't accept an incomplete job
10:49 am
10:50 am
from any one else. why accept it from your allergy pills? flonase relieves your worst symptoms including nasal congestion, which most pills don't. flonase helps block 6 key inflammatory substances. most pills only block one. flonase.
10:51 am
10:52 am
stuart: been like this for much of the morning. a very modest gain for the dow. right now we're up 37 points, 26,500. walgreens drugstore chain changing their tobacco sales policy if you want a pack of cigarettes you have to be 21 years old to buy them at walgreen's. that policy starts september the 1st, this year.
10:53 am
relativity space is private space travel. they teamed up with a thai company to launch a sat height on a 3d printed rocket. get that. ceo of relativity space, tim ellis is with us. we're kind of surprised you can print, 3d print a rocket. what is the benefit of 3d printing of rockets? >> yes, sir. relativity is building the largest 3d printer in the world. we're building a rocket 105 feet tall, and seven feet wide. the advantage we're able to build the rocket from raw material to flight under 60 days, versus 18 months it takes traditionally. stuart: how do you do that? is it just the computerization of the whole construction project? that's how you do it? >> yes. so it is really, it is 3d printed out of metal. you really have to look at it, in entirely new way. it is going to be the most
10:54 am
disruptive technology in the entire rocket industry but the entire aerospace industry. stuart: do you get more precision when you 3d print? >> it is actually really more automation as well. so it is really taking what is normally a lot of physical complexity with traditional manufacturing that hasn't really changed over the last 60 years and it is making it more digital complexity. much more controlled by software, data and machine learning. stuart: is it your 3d printing machine or do you buy it from somebody else? >> we did make our own metal 3d printer we call star gate. which is the largest metal 3d printer in the world. reltivity developed the 3d printer and our own rocket with the customers we're now announcing. stuart: what does the rocket take off? >> so we're on track for the first orbital launch at the end of 2020, which will be at cape canaveral at historic launch site that most american companies have launched their
10:55 am
first rockets from. stuart: are you a private company? >> yes. we're a private. we're venture capital-backed here in silicon valley and so really had to get started with two guys in a we work in a garage. now we've grown up to a team of 84 people. we'll be 160 people by the end of the year. >> fascinating. tim, that's a really good story. when you do an ipo let us know. we'll be real interested. >> thank you. stuart: tim ellis, relativity space. we appreciate you being here. >> thanks, stuart. stuart: sure thing. a second outbreak this year's flu season and it is the longest flu season, what in a decade, ash? ashley: since they have been tracking back 20 years. it was like a double-whammy, if you like. we had one strain that came through. began the week of thanksgiving which was actually a weaker strain which was the good news. by mid-february another strain had appeared. this one has been more powerful
10:56 am
if you like. it is led to increase in people having to be taken to the hospital. last year 80,000 americans died of flu and complications. this season, that number is at 35 to 55,000. so those are some so i perking numbers. when -- sobering numbers. especially to the young and elderly that can be an example. we think this flu season will eventually fading away in couple weeks. stuart: let's hope. we are the irs changing the way it does audits. starting to target more wealthy taxpayers. watch out, here they come. we have got the story. gas prices heading up. the national average is 2.84, summer driving season around the country, around the corner, looks like we'll go to three dollar gas fairly soon. we'll have that prediction for you. democrats totally split i say on a strategy for 2020. they have no unity. they can only commit to dragging
10:57 am
the president down somehow. my take coming next. ♪ this is the family who booked the flight, ♪ who saved by adding a hotel, which led to new adventures, ♪ that captured their imaginations ♪ and turned moments into memories. with flights, hotels, activities and more for your florida vacation, expedia has everything you need to go.
10:58 am
10:59 am
11:00 am
stuart: the state of play in the democrat party, division. they are split on strategy for 2020. house democrats are split. presidential candidates are split. there is no unity, just a demand to drag the president down somehow. last night on cnn, they launched a five-hour marathon town hall that featured five 2020 candidates, each took an hour's worth of questions. not sure if you could stay awake through all of that but for those who did, no unity emerged on the subject of impeachment. senator warren, senator harris and mayor pete all said get on with impeachment proceedings. bernie sanders backed off from that.
11:01 am
he's worried that impeachment efforts would distract from a discussion of the issues. senator klobuchar somewhere in the middle. she wants to see what happens in the house. i guess that means keep on investigating. among the candidates, they are not even close to consensus. and the same is true of house democrats. last night, speaker pelosi tried hard to bring them together. the only agreement she extracted was to keep the investigations going full tilt. she urged caution on impeachment but didn't win over the young radicals. representative ilhan omar still says we must begin impeachment proceedings, end quote. so here's what you can look forward to. 20 months of investigate everything, 20 months of continued calls for impeachment, 20 months of gridlock, 20 months of the most toxic political environment in recent history. i don't think the country wants that. i think trump wins. the third hour of "varney & company" is about to begin.
11:02 am
i took an oath to uphold the constitution of the united states, and so did everybody else in the senate and in the house, and i believe that every person in the senate and the house ought to have to vote. >> i think we have very good reason to believe that there is an investigation that has been conducted which has produced evidence that tells us that this president and his administration engaged in obstruction of justice. i believe congress should take the steps towards impeachment. stuart: there you have it. two senators demanding impeachment. kamala harris and elizabeth warren. that was in the last night cnn marathon town hall event. here's what president trump tweeted this morning. here we go. cnn has been a proven and long term ratings and beyond disaster. in fact, it rewarded chris cuomo
11:03 am
with a now unsuccessful prime time slot despite his massive failure in the morning. only on cnn. that is president trump's tweet. lisa booth is with us, fox news contributor. all right. the president's tweet aside -- >> well, that's true. get that out of the way. stuart: okay. i won't get into that too much. look, that aside, seems to me that there is absolutely no unity in the democratic party at all. what say you? >> well, i think to the point of your intro, trump wins if the economy remains strong because you remove the talking point for democrats for a need for a new direction. regarding the divide in the democratic party, the reason why there's division is you have a lot of these 2020 contenders who are thinking about themselves and also appealing to the democratic base. when you look at someone like speaker nancy pelosi, her objective is to try to keep the house in democrats' hands which means protecting a lot of those democrats that either won in
11:04 am
trump-leaning districts or republican-leaning districts who will be up for re-election in 2020 in districts that maybe don't necessarily fit a democratic candidate. stuart: she's got to make the political calculation, will impeachment and endless investigations work, and will they keep my caucus together. that's what -- that's the calculation here. >> her calculation is what is going to keep the house in democrats' hands. what is going to protect her majority. that is not leading down this road of impeachment. i think they are going to continue endless investigations regardless. but we also knew that before the mueller report came out. remember, jerry nadler through the judiciary committee had sent out document requests to 81 individuals that was prior to the mueller findings coming out. this was happening no matter what came about in the mueller report. stuart: thank you. i want to continue this conversation with newt gingrich, former speaker of the house. author of the new book, "collusion" which comes out next week. newt, i'm going to draw a parallel here. you were speaker of the house and you supported the
11:05 am
impeachment of president clinton. why shouldn't nancy pelosi do the same with president trump now? >> well, look, first of all, you could make an argument that we were probably too aggressive with clinton but if you go back and you look at ken starr's report, he uses the word guilty 11 times, on 11 different topics, five of them obstruction of justice. now, if the mueller report had come out and had said trump was guilty on 11 counts, i think they would have no choice except to try to investigate and impeach. but in fact, mueller's exact opposite of ken starr. where ken starr said clinton was guilty of these things and by the way, clinton did lose his license to practice law, he did have to pay a fine, there were a lot of things wrong with what he did, but in the case of the mueller report, it says there's no collusion, there's no obstruction and by definition, how could there be obstruction if there's no crime, so after two years, $25 million, 500
11:06 am
witnesses, a team that was overwhelmingly democratic lawyers, not a single trump supporter on the legal team, found he wasn't guilty of anything. that's the opposite of what ken starr did. stuart: what do you make of the strategy, which i think the democrats are employing, of don't necessarily impeach, but just investigate everything, slime the man for the next 20 months? is that a winning political strategy? >> well, it's probably a losing strategy in the general election, but if you were a democratic committee chairman, you were jerry nadler, for example, your left wing activists would destroy you if you refused to investigate. so you have to start with what is a truly crazy energized left wing of the democratic party, almost totally out of touch with reality, and the pressure that they're bringing to bear, then frankly, the degree to which the presidential candidates are
11:07 am
moving left. when you have bernie sanders say that the boston bomber should be allowed to vote in prison, that murderers and drug dealers should be allowed to vote in prison, now you have presidential candidates, this is a party losing its way. stuart: newt, thanks for being with us. i want to see that book. i want an autographed copy free. is that all right with you? >> you'll get it. i will get you a free copy. it's about real collusion, where a u.s. senate aide helps the russians try to poison a u.s. senator. stuart: i want to see it. thanks very much for being with us. i do appreciate it. one last question to my colleague here, lisa. before we get to the stock market, i said as things stand now, trump wins in 2020. what do you say? >> if the economy remains strong, he does. if not, democrats have an opportunity to advocate for a
11:08 am
new direction. if the economy is strong, people feel like they are doing well, they will be less inclined to want a different direction. they will want to stay on the path we are currently going on. the economy is absolutely key. s stuart: i agree with you. thank you very much. now let's get to that stock check, please. yes, we are moving a little bit higher. look at this. now we are up 75 points, 25,587 is where we are. trying to do the math. roughly 300 points away from the all-time record closing high for the dow. roughly speaking. earnings, let's get a check on the big dow names that have already reported. mixed position here. coca-cola, united technologies, both those stocks doing very nicely, thanks very much. procter & gamble, verizon, both of them are on the downside. all four are dow stocks. better look at twitter. very strong profit report. a nice gain in daily active users. dorsey says they're doing a lot more to stop abusive behavior on the platform and it's reached
11:09 am
$40 a share. there's a switch. up 16% just like that. big tech names, facebook and microsoft report tomorrow afternoon at 4:00. amazon, thursday afternoon at 4:00. all of them up again today. they have a terrific run-up even before the formal reports are issued. look at that. amazon back at $1900. got it. listen up. the irs commissioner says he wants to work with congress to focus audits on wealthier taxpayers. what's that about? in addition to her impeachment call, senator warren wants to eliminate student debt and make college free. how do you pay for that? of course you tax the rich. i say it will be another two years of investigations. can the republicans use that to their advantage? good question. we will answer it. this is the third hour. it's a marathon. "varney & company." don't tell your mother.
11:10 am
dad, it's fine. we have allstate. and with claimrateguard they won't raise your rates just because of a claim. that's why you're my favorite... i know. are you in good hands? i'm workin♪ to keep the fire going for another 150 years. for beauty that begins with nature. ♪ to make connections of a different kind. at adp we're designing a better way to work, so you can achieve what you're working for.
11:11 am
11:12 am
♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
11:13 am
stuart: the irs, wait for it, are going to overhaul the way they audit taxpayers. who do you think they are target something ri targeting? rich people, of course. deirdre: the irs commissioner says he wants to work with congress to make sure this group is audited more than they are. the idea is people who make less are often targeted so people who earn this earned income tax credit are the ones who really are put through the paces and have to overpay to the tune of something like $18 billion. notice the idea is not just reducing audits all together, it is targeting a specific group. one thing that maybe is a silver lining is the number of auditors
11:14 am
is down 30% since 2010. it's actually the first time since the '50s that you have the fewest number of staff auditors. maybe everybody gets a little extra wiggle room. stuart: is that fair and balanced? deirdre: silver lining. stuart: we will take it. deirdre, thanks very much indeed. now, we broke these numbers yesterday. they are quite easy to understand. the social security administration runs out of cash by 2035. more importantly, perhaps, next year, 2020, they will be shelling out more money than they are taking in. in other words, they are going into the red next year. senator mike lee is with us, utah republican. senator, welcome back to the program. >> thank you. stuart: couple years ago, we did our research, you had an idea to fix social security. you would index the retirement age to your average life expectancy. little complicated, wouldn't you say? >> a little complicated, yes, but it gets even more complicated if we do nothing. if we do nothing as we have a
11:15 am
population that is able to live longer, we have to do something to make sure social security remains solvent. stuart: if you index it to average life expectancy, that would mean you retire later, i presume? because life expectancy is going up. >> yes. you wouldn't want to do it abruptly. you would want to hold harmless those who are say, older than 50, within a short period of time of retiring, and you would want to escalate the retirement age gradually. but remember, when social security was created, americans were living only into their early 60s. now they are living well into their 80s and that's a good thing. we have to make sure modern economic realities are taken into account. stuart: i will bet, i'm not a betting man, but i would bet on this. when there is a fix for social security, it will be a modest increase in the retirement age, coupled with more taxes, a higher threshold for social security tax. right? >> a lot of people in washington would prefer that. i myself think people are taxed enough already and would prefer not to do it with any tax
11:16 am
increase. stuart: i knew i liked you. you have a new book out. i believe it comes out today, as a matter of fact. it's called "our lost declaration." i got to tell you, senator, one quote just stood right out to me, because i think it encapsulates your book. here it is. we are under the shadow of a new kind of tyranee. a tyranny exercise by unelected bureaucrats who claim to be serving our interests. who are these unelected bureaucrats? >> they are federal regulators, people who run our executive branch agencies. to be clear, these are good people, they are hard-working, well-educated, well-intentioned, highly specialized men and women, experts in their fields. the problem with them is, you don't vote for them. you can't fire them. you can fire your member of congress every two years or your senator every six years. you cannot fire the bureaucrats. one of the points i make is that we have traded one form of despotism for another. sure, we don't have a king but we have a whole lot of people who are making and enforcing
11:17 am
laws as they see fit, who are beyond the reach of the american voter. that's a problem. that's one of the reasons i focused on the declaration of independence in my book. stuart: they seem to go to extremes to make their point. for example, before this administration changed the rules on clean water or just water deposits, i've got a farm. i would have had to get permission from a bureaucrat to move a rock that was in 20 feet of a stream that goes through my property. permission. i've got to do an environmental impact study. all of this was dictated by bureaucrats, the kind of people you are talking about. mercifully, the trump administration got rid of that rule. thank you very much. >> that is exactly the kind of problem we are talking about. this is your land and i'm guessing that that land bore no connection or resemblance to an interstate or navigable waterway yet they were treating it as if it did.
11:18 am
they were treating it as if they were navigable waterways, puddles that don't dry quickly, dry washes, things like that. in some cases we have seen people go to prison, in some instances for years, based on the fact they got a building permit, did everything they were supposed to do, but unknown to them, the land they were trying to develop happened to be classified according to some bureaucrat as a wetland or waterway. that is a problem. it's a problem that's reminiscent of what we said in the declaration of independence, when the king set forth swarms of officers to harass the people and eat out their substance, we are dealing with that today not from london but from washington. we have to fix it. stuart: that king george. i tell you. mr. senator, what a pleasure. thanks for being with us. >> thank you. stuart: yes, sir. now, a check of tesla. big investors conference yesterday. they have announced a new driverless taxi service. it will be up and running they say next year. any driver of a model 3 or model s can sign up and have their car
11:19 am
added to the service to earn some extra money. tesla expects it to cost around 18 cents per mile for the rider, compared to the $2 or $3 uber or lyft charges per mile. not so sure you are ever going to see that service. musk says here it comes. okay. check oil again, please. six-month high after the u.s. announced tighter sanctions on iran's oil export. $66 a barrel as we speak. all right. oil is moving up. you are going to soon feel more pain at the pump because of it. as we keep saying, here comes $3 gas. coming up, we are talking to gas buddy, those people. i want his prediction for memorial day. first, though, can you guess who is the highest paid world leader? where do you think president trump lands on the list? we have answers to all of your questions, next. guys, it's time to step up your game.
11:20 am
11:21 am
force factor's alpha king boosts total testosterone for more lean muscle in the gym, more energy, and more passion and drive so you can rule the bedroom. unleash your potential with alpha king. now available at walmart. the nation's largest senior-living referral service. for the past five years, i've spoken with hundreds of families and visited senior-care communities around the country. and i've got to tell you, today's senior-living communities are better than ever.
11:22 am
these days, there are amazing amenities, like movie theaters, exercise rooms and swimming pools, public cafes, bars, and bistros, even pet-care services. and nobody understands your options like the advisers at a place for mom. these are local, expert advisers that will partner with you to find the perfect place and determine the right level of care, whether that's just a helping hand or full-time memory care. best of all, it's a free service. there is never any cost to you. senior living has never been better, and there's never been an easier way to get great advice. call today. a place for mom -- you know your family, we know senior living. together we'll make the right choice. you know your family, we know senior living. i can customize each line for each family member? yup. and since it comes with your internet, you can switch wireless carriers, and save hundreds of dollars a year. are you pullin' my leg? nope. you sure you're not pullin' my leg? i think it's your dog. oh it's him. good call. get the data options you need
11:23 am
and still save hundreds of dollars... do you guys sell other dogs? now that's simple, easy, awesome. customize each line by paying for data by the gig or get unlimited. and now get $100 back when you buy a new lg. click, call, or visit a store today. stuart: this is one of those quizzes we run. this is one i really want to know the answer. who is the highest paid world leader by salary? deirdre? deirdre: you got to go far east, very far east.
11:24 am
singapore, number one. the leader there making about 20 times the average gdp per capita so 1.6 million u.s. depending on fluctuations can go up. stuart: that gentleman on your screen, the leader of singapore, makes $1.6 million per year. okay. where does president trump stand on this list? deirdre: the u.s. is top five but as you will recall, president trump said he would not take home any money. he donated his entire salary. you can see him there, number four on the list at $400,000 which if you want the comparison, it's seven times the average u.s. per capita of about $54,000 per year. but you know, singapore first, hong kong second, switzerland third. ashley: singapore way out in front. deirdre: they don't want their officials to be able to be bribed. stuart: it works. the seattle seahawks quarterback, enormously paid guy, russell wilson, he showed appreciation for his teammates. i think he gave them something.
11:25 am
ashley: a nice pat on the back. thanks, guys. no, he gave them 13 offensive linemen, he said i could have gone flashy, got you a car or something like that, watches, luggage. he gave them stock. $12,000 worth of amazon stock each. deirdre: that's nice. ashley: he says i want to help my teammates prepare for life after football. i believe stock in amazon will help these players achieve their dreams. very, very sensible. stuart: yeah. $12,000 is allowable under the gift tax rules. ashley: correct. very smart. that should grow nicely for them. stuart: good story. in addition to her calls for impeachment, senator elizabeth warren wants to eliminate student debt and make college free. how you going to pay for that? the rich can pay. she thinks it's their duty to pay. wait until you hear it for yourself. it's coming up next. check that market. triple digit rally, it's on right now. look at that, up 102, 26,600.
11:26 am
it is a rally. more "varney" in a moment. heading into retirement you want to follow your passions
11:27 am
11:28 am
11:29 am
rather than worry about how to pay for long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. so you can explore all the amazing things ahead. talk to your advisor about brighthouse smartcare. brighthouse financial. build for what's ahead℠
11:30 am
stuart: all right. big smiles, everybody. why not? look at that. you have a triple digit rally, 26,600. two-thirds of the dow 30 are in the green. it is a rally. we are waiting for earnings reports that come from facebook and microsoft tomorrow, wednesday afternoon. amazon, thursday afternoon. all three of those stocks are nicely higher again today. in fact, they have been on a tear in the last few days, even in advance of their official profit numbers. our tech guy is with us, co-founder of swing technologies. seems to me the market is expecting gigantic profits from these tech companies. do you see that happening? >> the rally continues, stuart. it's good news for investors this week, isn't it. i think remarkable, really, given the concerns that people had about just global growth generally slowing, about trade tensions, what impact that would have. beginning of the year, people were really concerned this bull market was coming to a close. it's a great rally.
11:31 am
stuart: it is a great rally. do you think it's legit? are we going to see serious profit increases from the big tech companies? not just the big three, you know, facebook, microsoft, amazon, but all of them across the board? are they going to show the kind of profit that justifies these kind of stock market rallies? >> i think the answer is that it really depends on each company. i think you saw, for example, twitter today, one of the other big giants which has released its earnings and is up significantly off the back of very, very specific increases in profitability and their ability to clean up some of the fake accounts and so on. they have managed to eke out improvements in a way that's very specific to their business. i think it will be the same tomorrow and the rest of the week when it comes to facebook and amazon. they will be very specific things for each of those companies. i don't think we are seeing these sort of huge growth in absolute user numbers that we were seeing before. because of that, it's much more
11:32 am
about tactical things that each of the companies can do. just because the market is up today, i would not say that's an indication all of these big tech companies are going to show supreme numbers. it really depends on their individual business model. stuart: is it all about the cloud? or especially for amazon, is it about growth in the cloud business? i'm not sure i understand the cloud business, but nonetheless, i'm told it's very important. is it? >> i think for amazon, it's absolutely about that. so if you look at their e-commerce business, it's doing great, it's fantastic, it's been on a great run for awhile. but their cloud business, that's recurring revenue, crucially and is growing at over 40% a year. i think analysts will be looking when it comes to amazon specifically at can they f continue to eke out those amazing growth rates in cloud computing specifically. that's crucial for amazon. stuart: all of these companies are american. the big, big tech giants are american. you are over there in london. you got a british accent. what do the brits think about
11:33 am
the american behemoths that are stealing the world market? >> look, i think here in the uk, we are obviously delighted these companies are doing so well. they are huge employers of british talent but our european cousins are looking upon them less kindly. we are seeing increasing calls for regulation coming out of the eu and we actually saw yesterday one of the key european decision makers say to the u.s., say to trump, we want to see you enact regulation of big tech as well. what's interesting today on the twitter earnings call, you will see jack dorsey say i'm fine with regulation. you know, if it's the right type of regulation, so be it. you have seen apple's tim cook say the same thing. you have seen zuckerberg say the same thing. i think what's coming from my side of the pond is i'm afraid regulation seems to be catching on. stuart: okay. tommy, our guy in london on technology, thanks for joining us. we will see you again soon. thank you. by the way, elizabeth warren is clearly, in my opinion, clearly trying to out-left, out-socialist her main opponent,
11:34 am
bernie sanders, the socialist. if you don't believe me, listen to what she said about her college plan from last night's cnn town hall. roll tape. >> part one is that we say that we are going to roll back student loan debt for about 95% of students who have debt. that's part one. and part two is to make sure that we never get in this mess again on student loan debt and that is to make college universally available with free tuition and fees. stuart: okay. i call that buying votes but let's see what charlie kirk says. he's the turning point usa founder. look, i say buying votes. vote for me, look what i'll give to you. >> no doubt. it's the competition who can give out the most free stuff. what frustrates me the most about this student loan conversation, i call it the game of loans which is quite timely right now. first of all, the federal
11:35 am
government distributes almost all the student loans in america. even congress with maxine waters, chair of the financial services committee, she had all the big banks in front of her, she thought the banks were still in the student loan business. they're not. to senator warren, it's the government that has created this catastrophe. we have a nationalized student loan industry. tuition rises because the government keeps pumping in cheap money and the question is, we have to ask is the quality of the degree actually worth the debt burden. the answer is actually no. why is college four years? should it be three years, maybe two year technical schools? what she's trying to do is go after people that have been sold a bill of lies, sell them the promise of forgiveness, never deliver it, get the votes and hold them hostage under the auspices of the promise of a government program. stuart: that's a very good -- that's an interesting theory, charlie. let me just take a moment to show you what elizabeth warren said and how she would pay for this college deal. watch this. >> i started in several months ago talking about a wealth tax.
11:36 am
an ultra-millionaire's tax. it's two cents on every dollar of the great fortunes above $50 million. so your 50 millionth and first dollar, you pay two cents over that. now that you've got that great fortune, spend just a minute to remember how you got it. you built that great business or your ancestors did using workers that all of us helped pay to educate. you got your goods to market using roads and bridges that all of us helped pay to build. you were protected in your factories with firefighters and police officers that all of us helped to pay. and we say good for you that you have now gotten this great fortune, but two cents, you got to pay something back so everybody else gets a chance.
11:37 am
stuart: all right, charlie. >> it's the labor theory of value, repackaged in 21st century. here's what i can't understand. i agree there are billions of dollars there we should tap. college undo youmen college endowments. harvard raised their tuition, raised the amount of money it costs to go there yet they don't touch the endowments and she wants to go after billionaires. she never talks about going after endowments from the very universities she once was employed from. stuart: if you pay for free college by imposing a wealth tax, it's every year but how do you pay for medicare for all? that requires a ton of money. ashley: same thing. stuart: but it's not there, is it? >> the conversation, is it the right thing to do, no, it is not the right thing to do to tax somebody else to pay for a good idea that you have, a supposed good idea, so you can assume political power. we should never be a country where we want to be generous with other people's money.
11:38 am
stuart: pound that table, charlie. this is america. the united states of america. >> we will keep it great. stuart: yeah, please. charlie, thank you. now this. president trump will be traveling to the united kingdom in june. could be a rocky visit, dreeird? deirdre: we have heard the president say less than flattering things about how theresa may has handled brexit. so far, no carriage procession. the queen will host president trump but will not host the couple overnight, apparently, refurbishments under way. this is the first official visit. we know he had a working visit in the past that was met with a lot of protests. no matter what happens, this will make headlines as we know june, 75th anniversary of d-day, so they will be on the south coast of england to help celebrate that. stuart: there will be headlines coming out of london in early june. now this. kim jong-un is in russia,
11:39 am
meeting vladimir putin. actually meets him on thursday. ashley: russia borders north korea so kim jong-un can take the train, as we know he doesn't like to fly or doesn't have a plane to do it. he will take the train, will be there. the russians say they are very interested in discussing the denuclearization of the korean peninsula and you know, the last we heard from north korea is they said they don't want to deal with secretary of state mike pompeo anymore. they want someone more mature. i think what we are seeing from north korea is they were testing some weapons recently. now they are going off to meet with russia. this is all about poking donald trump and the u.s., saying hey, come on, we're here, let's talk. you could argue the talks have stalled right now. stuart: all right. back to your money. we better check that big board. you are going to like this. it is a rally. we are up 123 points for the dow, 26,634. the all-time closing high is 26,828. i'm doing the math.
11:40 am
it is less than 200 points away from the all-time closing high. it's a rally. huge shakeup in cable, in the cable world. look at these stocks. another 4.5 million people are going to ditch cable, cut the cord, this year. that puts 34% of the country without a tv subscription. 34%. ashley: streaming, baby. stuart: yep. great news for streaming. yes, it is. by the end of this year, more americans will hold a streaming subscription than a cable subscription. they are expected to make $22 billion this year. compare that to 16 billion, the streaming companies, last year. that's a jump and a half. any excuse to use that animation, right? there you have it. paul krugman has a new piece in the "times" slamming the president and the republicans. this time president trump demanding an apology. we will tell you what he said in a moment. kamala harris, back in senator warren's call for
11:41 am
impeachment despite speaker pelosi urging democrats to be cautious. throwing that word around. i will say it again, it will be two more years of investigations, investigations, investigations. can the republicans find a way to use that to their advantage? i'm asking the rnc that question, next.
11:42 am
11:43 am
11:44 am
stuart: he's back. paul krugman weighing in against on politics. got a piece called the great republican abdication, targeting the president, the gop, obviously. wait a second. president trump fired this tweet right back at him. here we go. paul krugman of the fake news "new york times" has lost all credibility, as has the "times"
11:45 am
itself with his false and highly inaccurate writings on me. he's obsessed with hatred, just as others are obsessed with how stupid he is. he said the market would crash only we've got record highs. what have you got to say? deirdre: the gop, he says, is a party that no longer believes in american values and that it is essentially selling out americans and the first few lines are about a hostile power basically intervening in our election and just i would say backing up this idea that russia placed president trump in the presidency and then saying republicans will do nothing. so it's a very extreme piece. there's no way to say it's even journalistic. stuart: it's ridiculous. ashley: all republicans are interested in is getting tax cuts for the wealthy. that's what it boils down to. stuart: the clinton administration appealed to this foreign government, namely russia. they did that. ashley: that's correct. bogus dossier. stuart: it certainly wasn't president trump. deirdre: the line seems to be
11:46 am
that he's accusing republicans of doing nothing and sort of making the argument that at least in the nixon years, that the party turned against nixon. stuart: i'm sorry, it was president obama who did nothing when presidential campaign was being spied on by american intelligence agencies under the control of president obama. but don't let me get -- ashley: deep breath. stuart: calm down, stu. let's get back to cnn's town hall debate. senator kamala harris said she would support impeachment proceedings. she joins senator warren, who called for impeachment just the day before. kayleigh mcenany joining us now. i think, kayleigh, you are saying bring it on, impeach him, why don't you. is that what you're saying? >> well, what we're saying is they are moving forward at their own peril here, stuart, because the cnn poll, let's cite the very network they were on, showed 36% supported impeachment. that was last month. quinnipiac, 35%. so why are they endorsing a position that a very small minority of the nation supports? my only answer, they are
11:47 am
auditioning for aoc's endorsement here. stuart: wait, wait, wait. you can't just let that sit there. they are looking for aoc's endorsement? what, the candidates or pelosi? >> yeah. i think the candidates. yes, of course they want her endorsement. that's the coveted leftist endorsement for the far left base. nancy pelosi is saying don't do this. aoc is saying let's move on ahead. every 2020 contender falls behind her. at least two so far on the green new deal, almost all of them. stuart: joe biden, if he runs, and i understand that his announcement has been delayed again, supposed to be wednesday, now it might be later than that, joe biden, he wouldn't call for impeachment, i don't think. i think he's -- look, you look surprised but i don't think he would. >> well, i anticipate that he's none the wiser than his socialist companions there. he said he's the most progressive in the race. that would be more so than bernie and kamala. he also said i was never a moderate when i ran for office so joe biden is -- we will see
11:48 am
what he says. stuart: are you very confident, aren't you? >> we are very confident. when you are embracing socialism and policies that only 30% of the nation supports, you will become the party of the 30%, not the majority. we are feeling very good. stuart: wait a second. some of these candidates are saying vote for me and look what i will give you. whether it's free college, medicare for all, getting rid of student loans. they are giving something. now, there is a certain portion of the population to whom that is attractive because they will be on the receiving end. you got to be a little worried about that, haven't you? >> well, they are giving, they say, but really, they are just taking from your paycheck. when we explain the details of losing private insurance, you know, skyrocketing taxation, we believe those details will get through to the american people. we are not a socialist country. polling suggests just a quarter of the nation supports socialism which is striking in and of itself. we are not there as a nation. we will press on the details and win this election. stuart: just remember, less than half -- about 50% pay no federal
11:49 am
income tax whatsoever. they get money, they don't pay it. that could be attractive to them. kayleigh, i'm out of time. i'm sure you will come back with your confidence another time. thanks very much. >> that would be great, stuart. thanks. stuart: unofficial start of the driving season, memorial day, about a month away now. gas prices are already surging. question, how much will you be paying at the pump this summer? we do have an answer for you, next. i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here,
11:50 am
i've done my job. call for a strategy gut check with td ameritrade. ♪
11:51 am
there's also a lot to know. part a that's your hospital coverage, part b is all the doctor stuff... the most important thing to know? medicare doesn't pay for everything. and guess what that means... yep...you're on the hook for the rest. that's why it's important to consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. a plan like this helps pay for some of what medicare doesn't. so you could end up paying less out of your own pocket. that's nice. and these are the only medicare supplement plans endorsed by aarp. selected for meeting their high standards of quality and service. it feels good to have someone looking out for you.
11:52 am
want to find out more? call unitedhealthcare insurance company now to request this free decision guide, with aarp medicare supplement plan options to fit your needs. and learn how this type of plan works together with a part d prescription drug plan. here's something else good to know. with a medicare supplement plan, you have freedom. freedom to go with any doctor or hospital that accepts medicare patients. you're not restricted to a network. ever. and if you need to visit a specialist, you'll have a choice there, too. your coverage goes with you, too, anywhere you travel in the country. we have grandkids out of state. they love our long visits. not sure about their parents, though. call unitedhealthcare now to learn more 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.
11:53 am
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. so...call. stuart: on september the 20th, last year, the s&p 500 closed at 2,930. that was the record closing high. at this very moment, within this day's trading, the s&p is up at 2930.92. you surpassed the old all-time closing high. okay, it was .75 on september 20th so now we are above that level. you better check the price of oil. big story this week. it's gone to $66 a barrel as of right now. to me, that means $3 gas is just
11:54 am
around the corner. the national average right now is $2.84 and again, i think it's on the way to three bucks. patrick dehan with us, head of petroleum analysis at gas buddy. am i right, $3 gas, here it comes real soon? >> i would be a betting man. i would put some money on your bet there. $3 a gallon, well, i think we are getting really close. california already seems to have peeked out at $4.02 a gallon barring any more refinery issues that could happen there. i think we are getting really close, stuart. stuart: wait a second. i do think we are going to hit $3 a gallon as a national average. but you just said that california may have peaked out at $4.02 a gallon. i know that's where it is now. peaked out? you don't see it going up any more in california? >> i think what we see in california is rising oil prices will be offset by refineries that are finally getting back online in california. maintenance is starting to wrap up on the west coast. keep in mind, california is the first state in the nation to move to that pricier summer
11:55 am
gasoline so refineries are just now finishing up the maintenance as they started earlier this year. that is going to provide some measure of relief, enough relief that it will likely offset the rise in the price of oil thaw just referred to. stuart: okay. so $3 gas as a national average, here it comes. what will be the high for the national average this summer driving season? >> i think that should be just about it. i think we may get there. of course, it depends on really saudi arabia filling the void left by iran. it depends on how far iran will take the sanctions, will they threaten more military moves in the strait of hormuz. there are a lot of questions with how much worse this will get. i think at least this time around, we are not seeing the bulk of what could happen yet. of course, there's a lot that like i said, could develop over the course of the summer. we could see some fireworks but at least for now, things are a little bit quiet. we know the sanctions are going to start being enforced. look for oil prices to keep moving up but i don't
11:56 am
necessarily know that gas prices will go because refineries are really starting to finish up maintenance. stuart: that's important news. i'm glad we heard it from you. gas buddy's guy, thanks very much for joining us as always, sir. >> thank you. stuart: there will be more after this. ♪ ♪ ♪ 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic.
11:57 am
. . the day we'll finally get something done. ( ♪ ) tyou wouldn't accepty from any one else.e. so why accept it from your allergy pills? most pills don't finish the job because they don't relieve nasal congestion. flonase allergy relief is different. flonase relieves sneezing, itchy, watery eyes and a runny nose, plus nasal congestion, which pills don't. flonase helps block 6 key inflammatory substances. most pills only block one. and 6 is greater than 1. start your day with flonase for more complete allergy relief. flonase. this changes everything.
11:58 am
(speaking in foreign language) i'm sorry i don't understand... ♪ help! i need somebody ♪ help! not just anybody ♪ help! you know i need someone stuart: why not smile. look at that if the s&p closes where it is now it would be a record all time closing high. that is the standard & poor's 500. show the dow. you have a nice rally going on there, led by technology stocks. you're up 144. 26,500. you're less than 200 points away from the all time closing high of that indicator.
11:59 am
this is a key story today. sounds crazy, can you see that, can you read that? beyond meat. beyond burger. that company makes plant-based meat substitutes. soon you can own a piece of it. if you want to get into the new technology you can. don't know the date or price. they will do it this year, we believe. >> should have over a billion dollar valuation in theory. it will start trading early may. stuart: real money. real meat. you have tried this stuff. >> i have not tried this particular brand. much to my surprise, i was as skeptical as anybody, there is cafe that makes all kind of meat substitutes. it is delicious. stuart: could you tell the difference? >> no. i like food. i thought i would be able to tell and enjoy it. i couldn't tell, i enjoyed it. stuart: dr barton, on the show
12:00 pm
at 9:30, chemical engineer, he tried two leading brands. he said you can't tell the difference. >> non-meat products should go from four 1/2 billion to six 1/2 billion in three years. stuart: i want a my time is up. meatless varney. neil cavuto it's yours. neil: thank you very much. the dow is up 140 1/2 points. my thanks to david asman filling in my absence yesterday. much appreciated. i try not to say that when it is connell mcshane but david i kind of like. i kid. the aforementioned connell mcshane is here. we'll start picking apart these numbers, what is going on with noelle nikpour, danielle mcglocklin as well. s&p technically in and out of record territory. records established last fall. we're very close to doing that for the dow and the nasdaq as well. but for now, it isn't so much what the

66 Views

info Stream Only

Uploaded by TV Archive on