tv Varney Company FOX Business September 8, 2015 9:00am-12:01pm EDT
michael, great to see you. charles payne is in for stuart varney today. going to be a big show on "varney & company." charles all yours. have a great show. >> that's why they brought me in. i'm charles payne in for stuart varney. the long break is over and wall street gets back to work. as a result we've got a big rally coming up. futures have been up as much as 300 points. the question know you, are stocks cheap? and bernie sanders takes a big lead over hillary clinton in new hampshire. 9%. and chants of run, joe, run. and the presidential pen strikes once again, it's a big day for your money. "varney & company" is about to begin. ♪ all right, guys, got to start with the market.
take a look at the dow futures. the futures were up even more, it's going to be a big, big day, you guys know we follow a whole lot of big name, tech stocks on this show closely. where will they open after this holiday weekend? let's start first with netflix, down the first week or so, and down 3% at the open and apple, a big event tomorrow for apple. i want to take a look where that is right now. indicating up about $2. now to facebook, which actually hit $78 two mondays ago and that's going to open up 89 or $90. resistent the last week or so. let's check on the price of oil. it's more volatile than the stock market right now. 45, now 50 cents and we're going to keep a close eye on that. of course, the big one, gasoline. look at that, guys. how much driving did you do over the labor day weekend? well, $2.39 was the national average for regular. and it's now 22 days in a row.
we've got at least 20 states where one gas station has gone below $2 a gallon. the lowest price so far that we know of for the united states is a buck 64 in sumpter, south carolina. if you stake out the place that's where you'll find stuart varney. >> because he's cheap, so cheap. >> he's frugal. >> i just say he's cheap. >> let's bring in keith fitz-gerald to talk about the markets. keith, the pros, wherever they hang out in the summer, they are that he back to work. a lot of them lost a lot of money and the so-called rational they'll come back buying and do you think the markets is cheap? >> it's definitely on the cheap because they're looking for what they want here. they want the chinese central banks to stimulate their markets and grow over here. i'm not sure they'll succeed yet. >> from what i read only 34% of
the chinese public is in the chinese market. if you move higher, i guess that leads to wealth effect. the federal reserve we've printed up to 4 or 5 trillion for the same wealth affect and it didn't work in america. why would it work in china? >> this is the thing, you don't hear american consumers say the stock market went up i'm going to buy another refrigerator. the other thing over there, we've got 30% of the retail volume-- 30% of the population driving the stock market. over here, you've got 70% driving institutional volume. they're very different. the chinese are more volatile here a lot more transparency and. >> the bottom line, china has terrible import and export data and they're looking for a major round of stimulus. we'll be right back to you. president obama using that pen and phone yet again requiring
sick leave for employees of federal contractors, roll tape. >> it's a good proposal out there, the family act, that would deal with some of these issues. i'm calling on coping, take-- congressional take a cue from the rest of the world. find a way to make paid family and medical leave a reality for all americans. >> we've got katherine back from the national review. >> businesses are going to fight against this and it's know the good for workers either, the businesses that hire contractors, they have the option, 'cause contractors are cheaper, to take risks on people they might not normally hire. when that starts to be less of the case, there be people that could start as contractors and advance-- >> the notion of fleshing this out. you mentioned 44 million people don't have this kind of thing. what's to start with, the business is that 15 employees are higher. if this is what president
obama's experience in the real world really shines through. the average business with 15 employees, you don't want them to stop by hiring the people and-- >> that's the problem with things like this executive order which he has done time and time again. you would think for a former college professor he would have a better understanding of economics, but he doesn't. >> there's economics and remember the movie with rodney dangerfield, you're too young, but he was-- i would talk about in the real world, back to school. and it's one thing to say on paper this looks like it will work, but understanding it that you actually hurt people when you do this. i'd rather have a job rather than no job if it means sick leave. and the primaries, in donald trump poll, 29%, dr. ben carson hanging tough at 22%. the remaining candidates all in single digits. on the democrat side, bernie sanders pulling ahead in new hampshire. that same poll has him at 41%
and hillary at 32% and joe biden at 16%, i've got to tell you they were fired up about biden at a labor day union rally. roll that tape. >> thank you. >> run, joe, run! >> run, joe, run! what do you think? >> definitely a big concern for hillary. he's so lovable, he's got the lovability factor you want to see what uncle joe will say. hillary, she's boring, not trustworthy and people have a tendency to make gaffe as a positive. i think he's being trance irnt pa and says what's on his mind the opposite of hillary. >> which is cool these days. >> that's a cool thing. >> can he win? that's the problem. >> apparently joe biden is beating trump in national polls and hillary's not these days. so, you know, listen, there was a time a year ago you said, yeah, he's like everyone's
crazy uncle, fun to have at family reunion and one drink too many put him back upstairs. >> and i'm sorry, but all of this stuff is going to come out. >> what. >> kind of some, being a little too close to women sometimes at functions where cameras are rolling, remember that? >> all of the traditional things that normally would have sunk a candidate three, four months ago, may not be in play these days. let's shift gears because what's happening in europe is devastating. they're facing an immigration crisis of historic proportions. germany is pleading with neighbors to help share the burden and take in more refugees. german officials say they will welcome around half a million annually. that's absolutely huge and for years to come, tens of thousands arrived from hungary, many on foot, up to 800,000 could be settled there by the end of the year. compare that to the u.k., will take in 20,000 this year and other countries like slovakia
and poland will say they'll only take in christians worried about slipping through. >> there are refugees and iraqi refugees coming through. within syria, isis has been able to infiltrate a large section of the population, so the deduction is that isis will use those refugees crossing into borders, of one, more countries and getting help with cells. this is a way for isis to infiltrate europe. >> we'll have more later in the show when we talk to colonel ralph peters on this topic. now a look at oil. we'll bring in john hofmeister, the former president of shell. maybe at a bottom, hit the 39 level and come back and stabilized even at the iranian news, the nuke deal didn't fall apart.
where are we now? >> i think we're wallowing around what appears to be a bottom in the anywhere from the high 30's to the mid 40's, but we don't yet have confidence that the economy is strong enough to promote and support sustained growth and demand. and i think until we see better signs of demand growth, we're going to kind of wallow around where we are. it's not a fun time for the industry because you really can't make investment plans on this kind of an oil price. >> the plans that we've made, the u.s. producers, shut them down, shut them down, postpone, postpone. at some point the supply dynamic shifts, doesn't it, when you shut down as many of these rigs that have been shut down and when you put a lot of capex projects on hold. at some point we see a small amount of demand since the price of oil a rocketing higher? >> i think we will. and i think the issue right now is how quickly will supply drop in the u.s.
because i think by the end of this year or beginning of next year, we'll be about a half million barrels down from the peak, which we saw earlier this year. and if we also see some kind of coordinated effort among opec countries where there is discussion going on, and maybe the saudies just sort of back off without any big formal announcement, back off their high level of production, not specifically to drop it, but just let it, i think we could see early next year, the beginning of resurgence in the oil price which could give some confidence, but only if the demand growth returns. you've got iranian oil and demand growth should soak that up. in addition, new car sales that are fading a bit in china, which is not a good sign for domestic growth. so, there's just a lot going on out there. >> a lot of question marks, but it was over $100 a barrel and feels like it's stabilized. love your insight, appreciate it. >> thank you.
>> all right, 20 minutes away from the markets and let's check the futures again. you can see we're up really strong, wouldn't be surprising if we were up 300 points. so the markets are back after that long break. we're all over, plus, the jailed kentucky clerk revealing her punishment. judge napitano is back and he's hear to weigh in next. >> if your faith is so small that you would sell it off for your job or for anything, then it's really not a faith.
>> check this out. look at that. wow, that's a huge fireball scene over bangkok, thailand. an exploding meteor was caught on a whole lot of dash cams during the morning rush hour there. it looks like a shooting star. this one came down and crashed into earth. there are no reports of any damage, but an incredible, incredible scene. it looked like something out of
a movie, surreal. and surreal, look at dow futures, up 258 points maybe we'll start out on the right foot today. let's shift gears to kim davis, the clerk in kentucky who went to jail for refusing to issue marriage licenses to gay couples. she's sentenced to jail. all rise, judge napitano here. the judge's order is pretty clear with respect to issuing these licenses. >> not only were his orders clear, but the supreme court of the united states was clear. whether you agree with the supreme court of the united states or not, you're entitled to your own beliefs, but not entitled as a government official to interfere with what is the public policy of the land and the public policy of the land is that same-sex marriage is lawful and every marriage-- every government marriage facility that marries people or facilitates their marriage,
she's not in the legislature to vote yes or no. she's not in the judicial branch where she can express an opinion. it's a ministerial job. she can't refuse them at the office for what the office does. the other side of this, i don't think she should be in jail because when the court is enforcing its rulings, it should use the least force necessary not the most force available. >> what would have worked instead. >> remove from her the authority to issue marriage licenses and give it to somebody else in her office, she stays as the county clerk, she doesn't have the crisis of conscience, she's no longer in charge of marriages, but someone else in her office will do that. think about it, if she could use her personal, religious views to interrupt the ability
of people to obtain lawful marriages, suppose she doesn't believe in interracial marriages, an old traditionalist roman catholic like the one talking to you know, who thinks that catholics should only marry catholics. she's not running a church, she cannot assert her religious views with a guaranteed right. >> the irony is that the judge is catholic, conservative catholic appointed by bush, a republican and considered to be a conservative himself, a republican governor there and they seem to be on the same page with respect to maybe, is she a martyr or something? are they using her not only to keep her quiet, or to punish her, but also let everyone else know, you don't step over your boundaries? >> you know, the history of the world in large measure are filled with people who asserted the right of conscience over what the government wants me to do, but you can't do that if
you are in a job and your conscience prevents you from doing that job that you have signed up for. she's an elected official. she doesn't have a boss. there's nobody who can tell her what to do. she's elected to carry out the law of the land and took out an eat, and the constitution as the supreme court ininterprets it. >> although her lawyer says five people should not be able to change the law like this. >> they are lawyer would have a problem with the constitution. >> judge, nice to see you. >> thank you, charles. >> listen, we're about 12 minutes away from the opening bem. the markets look like they're going to be much higher. take a look, dow futures up 262. check out the video, two high school players actually go after the referee. it's crazy to hit the guy from behind and knock them down and now they nts with a them to face criminal charges.
>> the long weekend is over and the markets are ready to open up ap ready to open up big. taking a look at the futures right now. dow futures up 258, been as high as 300 this morning. this could be one of the biggest plays of the year. action take a look at this, the third touchdown of the night and this game breaking, spinning moves, to help the
team take a big lead over virginia tech. a great game, by the way, back and forth, back and forth before leaving, it was dominating 42-24 victory. a nice move. they needed it, too, virginia tech put up a good early fight. unbelievable video to show you. this is in san antonio. two high school football players have been suspended because of that. one hit the referee from behind and the other speared him with his helmet when he was on the ground, a game friday night. cheryl, they are-- probably facing criminal charges. >> could possibly face criminal charges and right now they're not going to school. the school wants to suspend them and the community is up in arms in san antonio. they purposely hit this referee, the referee pants to file criminal charges against him. the two kids as you can see from the video basically hit him on purpose so just kind of unsportsmanship conduct and a couple of kids that need to be disciplined.
the video went viral. charles: of course it went viral. the initial comment from them or their camp that the ref used racial comments. it was so cowardly and so undignified i hope they get some sort of criminal charges. >> the head of the austin football association says i hope these two kids never play football again. charles: not a lot arguing with that. the opening bell in two minutes, 258. we're talking about apple. should you buy it ahead of tomorrow's announcement? it's been a big, big secret for a while. a lot of speculation, we'll have the answers for you next. at ally bank no branches equals great rates. it's a fact. kind of like shopping hungry equals overshopping. get fast-acting, long-lasting relief from heartburn
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stuart: we don't yet have confidence that the economy is strong enough to promote and support sustained growth in demand and i think until we see better signs of demand growth, we are going to waddle around where we are. it is not a fun time for the industry because you can't make investment plans on this kind of an oil price. >> remember we start at 9:00 a.m. eastern time every single day. dow futures at the magician set of circumstances. china's import and export is absolutely awful. scuttlebutt rumors to make their
way they will have a big stimulus that help the talk market turnaround and maybe us this morning. we've got cheryl casone, larry leben keith fitzgerald to talk about this. a minute until the opening bell. when hofmeister talked about sustained growth in demand, he was talking about the oil market but we can provide that to the stock market as well. the >> there's no question about that. the two are inextricably linked at this point, charles beard charles: what is the feeling? a lot of people lost money. the big boys of wall street. a preordained move to the upside in the next couple days? >> i do think not only is it a move to the upside a lot of volatility with it. certain like a trading him a lot of incitement over the next couple days. moving higher.
>> the rest of the week we did have high volume on the big sell off than we can get a better volume going to sleep. especially higher on a day like today. >> be updates that make me feel better about the market. charles: as you see everyone clapping at the new york stock exchange. a lot of times they don't go to the market to be up or down. the opening bell is ringing at this very moment that you have a barrows up 76, up 91. i will be the auctioneer. your first downtick of the day, red flag. obviously up as much as 300 points once the sox open for trading. dow jones industrial average now up 142 points. right now i doubt.yeah?
>> all but ibm and united health which are unchanged. >> in the green right now, this has been a tough go for the markets. the dow up 188. these are your blue-chip names. unchanged for united health and ibm. get their act together and join the parade. despite the low reality and investor sentiment has really gone down a lot. in fact, some people think the forecast is a lousy september. when i see investor sentiment down as much as i see it, whether it's from lewis tobias or from the association for individual investors, i see it as bullishness is a positive. how do you see it? >> 86% of buy sell are made incorrectly. they buy when they sell, so when they buy. the wrong sentiment is the right opportunity.
charles: it might be different because you are trading second to second. sentiment plays a huge role, more important than technical. >> absolutely. contrary is the right word. a lot of your act you viewers out there want to buy when the market is falling and you've got to some of the market is moving up. really bad is the way to do appear contrary and a scraper to put in there. charles: cheryl, by low, sell high, but it's hard to do. cheryl: and those who are not trying to day trade, you need to be patient because in a couple months there'll be a lot of game changing events with the and whether they will raise interest rates are not. china can get their act together even though they use reserves could also be a market positive. right now as you were talking, 250 plus, 260.
keep talking because that's the role. charles: we have big names to watch every single day. netflix of over 3%. hammered over the last couple weeks on speculation about more competition and things like that. amazon with a lot of news coming out here equates to 2.4% to the upside. wal-mart which was sloppy with something of a recovery of $1.81. caterpillar backs proxy in the chinese market at right now $74 with not any good news for a long time. finally make donald and $96.60. trading between 90 and 100. do you like any of those names? >> i like netflix but that's because you got $6 million in original content. they are making those not dependent on the fad and the white house and they can't be
raised at the click of the mouse. we have recommended it however. my family owns it but i am personally not. charles: what are you waiting for? a mr. one of fiber and other retested the bottom? >> i don't like to trade against my clients. charles: i got you. i'm in the same boat. you've got this iphone event tomorrow. he mentioned apple going to 202 years. >> there's no question once it comes in, that is really the value for apple. the undisputed heavyweights are not business have great, great history of creating demand and segment that the market doesn't recognize i'm not supposed to again. charles: even when apple was stuck at an all-time high based on a traditional valuation.
cheryl: it comes down to whether they sell the new version of the iphone. a six plus and a six s. they are starting to cannibalize them on the other products. a new mini might debut tomorrow. do i need to replace my apple tv, maybe i'll go one board without one. with the upgrade, nothing is new. the second generation of the watch with critics coming out saying there's other wearable tech companies. samsung has a new watch that will hurt apple. if you don't keep selling your stocks will go up. charles: here's the thing, you follow the stock and everyone is always guessing that apple will stop selling. so far they haven't. >> apple is a great company to put them in the same box as amazon. people love them, so that's an extra premium. they have great products come at
great profit and love them. putting those things together as a popular thing and something people want to buy. charles: i talk about the close relationship with caterpillar in china. apple has a close relationship. bring in our guest gordon chang. gordon, i know that smart watch sales in the last quarter in china have hurt apple, but in the plateauing, apple took more market share. is it possible you can have a sideways smartphone market in china and apple will gobble up share which neutralizes that? >> i don't think so. the reason is probably controlled by the people's army which means that the beijing favorite has come out with its new wearable and also a new phone. essentially, apple will have real problems in china largely
because of local competition but also the local economy is just not that good. we saw that with the disasters and port number a couple hours ago down 13.8% but they the dollar rate so it's probably down even more in dollar terms. this is a real problem for china. consumption may be increased in a little bit, but it's not really going very strong. charles: we know we've heard over the last half a decade or so that the consumer market will set the pace. they want american-style for two thirds of the consumer. that is still more important than the exports? >> they say a lot of things they want but they are not undertaking the reforms will get them them to a consumption-based economy. that is really the issue they are in a declining rate may be down to zero, maybe one or two, certainly not fathom that they
claim. they find it hard to implement reforms these days and many things they do are going back to the semi-command model like the reintegration of large state enterprises back into formal monopolies. this is not a good story for the chinese economy. charles: i keep reading where they suggest what might you do this but they are not coming down with an iron fist. they may have chinese competitors but it feels like that is the best product they could afford and banks haven't followed. is there some form of liberalization that can turn around at this point? >> long-term that is certainly right. you will not go back to the economy. nonetheless when you look at what they do the last two or three years on balance they move backwards on important things and consumption is in trouble because you see from car sales
and other sec is as well. charles: worden chang, thanks a lot. movies on amazon and microsoft as well. >> it's unbelievable. we talk about technology. almost 2%. this is the new agreement between disney and amazon and disney and microsoft to stream movies basically using apps or television and connecting devices and the like in yet another way this will compete against the other big ones such as netflix and the like. the battle of the streaming overall. 450 digital movies in the service. i can tell you i remember is that little girl saturday morning my mom would have executive business meeting and all the little kids have to figure out something to watch. the one or two cartoons on saturday morning. they now have their own show on
their own tablet. charles: they can do anything any time. they start at around one and a half years old knowing how to operate those things. everybody says disney should be lowered because of the cable cord tightening. >> amazon is coming out with a tablet for streaming videos. charles: i don't know if there'll be a long line for that. we will see. don't forget of course every morning at 5:00 a.m. eastern time because we've got lauren simonetti and nicole petallides to get your day started the right way. take a look at amazon. nicole mentioned at the $50 tablet. where do you think? >> she and i were talking about this morning basically the cheaper model because they been able to sell the higher priced models. they can't compete in the category with apple, but it's a
six-inch screen here for the holidays. it can stream video. you can download from the web and watch them offline, things like that. this could be a good name. >> on the opposite end, apple will go to a larger tablet. there has been cannibalization of the tablet market has peaked a little bit. either way, they've got a $79 candle. it feels like the whole business strategy, some will stick, some won't. cheryl: they are not making a lot of money off the tablets anyways. at amazon prime has been somewhat of a success. it's gotten hollywood shows on it, one and it's an all that stuff. this could help the amazon prime service. that is bad for apple. charles: let's leave it right there and look at oil.
where do we go from here? >> chars, last at the big type is whether opec would step in and limit supplies and figure out a way to raise prices. they were willing to do that yet, but that was the reason in the biggest rally in quite a long time early last week david got to keep an eye on not. opec stepping in and if not the price will drop quite a bit to the $40 level. that is the thing to watch this week. charles: we saw were saudi arabia had to send ground troops into yemen. that sends oil higher. america going offline to get all of these things. it makes it very, very confusing. take a look at the dallas 300 points. although we had a week ago, 16,044 last week on more than one occasion some buyers to god
as a buying opportunity. overnight that is fantastic news for the consumer. that's a national average for regular. what are you guys pay unit chicago? >> of you by premium, about $4 with regular little bit closer. chicago is an expensive place to buy gas. transfigured the city tax in the cook county tax. you've got three or four levels of tax in there. >> with the highest retail tax in the entire country. it's not a very good sign. charles: so funny how that always goes hand-in-hand. the rebound in the chinese market is good news for the chinese stock market. check out some of those stocks right now. and while we're at it, morgan with us. alibaba with good news. gordon, the speculation is another round of stimulus will
be big. we should let the audience know they've been getting rid of the current senior fortran. last month he is $94 billion. in one respect, that is better than america where we create money out of thin air. at least they've got something they can sell. >> or burberry tube defend their currency is $20 billion a day. to keep it up. they are having real problems. the "financial times" says essentially that will run under the 3.65 trillion within a year and it might be worse than not. charles: i want to bring you in. overnight the nikkei was down and erased all of its gains for the year. so much for the idea central bank can print in markets go up. when you make of what is happening over there? >> same old story, different day.
we have seen japan try and fail defense has a measurable success are really only in the stock market. the american middle class still hurting. money printing sad to say never worked in the history of mankind. it is foolish to expect different results. capitalism is the way to go and you've got to let companies succeed and fail. it will be a very dangerous six era men. charles: although i've got to tell you there is no real arm of capitalism anywhere. the ecb last week stepped up their quantitative easing. we don't have the high road to talk about. we started this in the first ways. i agree with you, but it feels like everyone is into deed. what happens here? >> we hope for the best. our government has been doing this for years and years. it happened in the 20s, 30s and now.
they continue to do it. hopefully this terrible thing doesn't happen. mom-and-pop investors given over with a big drop one day over a couple days and then it comes back out. it's not a good thing the government has been propping up for years and i don't think it will stop anytime soon. >> s., communist, no matter what form would see, dictators have tried to manipulate their economy to keep it was waged if you will. a quick peek at the tao of 314 points as the high today a strong start after a sloppy couple of weeks. we will be right back. it's why edward jones is the big company that doesn't act that way. hi mi'm raph. tom. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom. don't let unanswered legal questions hold you up,
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to learn more. switch to liberty mutual and you could save up to $509. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. charles: at a rally, folks. we are now at 344. a big, big day. here are your 30 stocks pared all great across the board. nicer to start the post-labor day session. plus check on the price of netflix. one of the harder hit tech names in question about the mismanagement made. up is not necessarily significantly. people wondering if the netflix magic has run its course. check the price of twitter. the reverend mel and play it down a little bit right now.
the younger end of the spectrum group of $14 amount is a juggernaut that always comes back right now up over 2%. check out the price of starbucks. an unbelievable company that wins the matter what appeared up $1.12 right now. ballmer pretty sloppy before the market started having problems. nevertheless 3% right now with $2.10. let's take a look at the shares of verizon with mobile tv up 10%. train for a mobile app called go 90 offer it to test it out. they are targeting millennialist. another trial run type thing. what is more interesting as for the content will come from. they will use 100, 200 hours from another channel. these are targeting young kids and they want them to be on
their phones watching tv. what is cool as they say look, we are not apple. we are not abc or whatever. we are a faux company that can get into the content. we will see if that works. a small group are trying to get hooked on this. >> there's no ceo that does not have to have this in their strategy. >> they are using targeted advertising so you have to go through and watch the stuff on verizon. kind of like having free television. sound familiar? charles: millennialstudies to watching commercials. just ask twitter how tough it is. also take a look at apple. tomorrow really big event and on that we want to bring and the cyberguide. it seems like they are up
against their own expectations. you can argue that apple to a large degree is a victim of its own success. >> hey charles, good morning. 27 hours and counting. california off the coast for me. tim cook, apple ceo expected to take the stage in a particular september debut of the second-generation of the most recent iphone version. tomorrow the iphone six and six at plus. apparently a processor may mean a much better camera, 12 megapixels and wireless communication. for those who are getting the app is on, this might be an enticing offer and they like to do this sort of things right
around this time of year to get us all hot and bothered for the holiday season so we have something on their mind for that. charles: i want to ask you because there was big news a week ago that apple because of the features were running down quicker, will there be a marked improvement there? >> or should he. we should see in our extra battery life with the latest software update expect them to come out somewhere on the 18th of this month. that is something to keep an eye on and give back some of the space on your phone so you can store more photos and videos and the other thing going on in the bay area with apple, they are expected to the fourth version of the apple tv and say goodbye to the tiny remote that came with the previous apple tv. a tiny thing is annoying in terms of the way it works and now expect the apple tv to have a big focus on gaming.
i suspect the newer remote control for offer you more control in terms of perhaps using it for the new device and also i have been followed on twitter at digging yang over the last week by all sorts of gamers out of the blue so the word is out that apple is coming out with a big play as it relates to apple tv. should microsoft and sony be shaking in their boots? no comment it is an doubtful it is going to be anytime soon. apple tv as they play here. charles: it does underscore the gaming environment keeps growing and growing. thanks a lot, buddy. appreciate it. paul krugman actually what this statement in his "new york times" column over the weekend
into trunk he says donald trump actually has a great point when it comes to the economy. here is one of his quotes. mr. bush has chosen to a trump as a false conservative and current republican economic orthodoxy and that tells you a lot about the dire state of the gop. cheryl casone, and does it help donald trump to say you are right on the economy? cheryl: well, he wrote it in "the new york times." maybe they do read the new york times. it's interesting to see krugman slammed jeb bush in particular. really, the kind of regular conservative economic policies we've been talking about for years and years that he don't want to raise taxes on anybody, especially the rich corporations are job creators permit argument that you could debate a day. conservatives are ignoring what jeb bush is saying about the economy following donald trump
is willing to raise taxes on the richest americans. he has gone after hedge funds. that is why donald trump is right and is a debatable that would be the best thing for the economy. charles: of course we still need more details from donald trump and the candidates on how they would implement. krugman says other things about trump are not complementary but we complementary but we will leave it right there. make sure you catch neil cavuto coast-to-coast speaking with donald trump's son eric trump. of course a vital tbt as you can see. and don't miss liz claman with a one-on-one with warren buffett on countdown to the opening bell. ener hedge fund manager bill ackman will be huge. that is 5:00 p.m. eastern time. if you do i'll back him in you do all of that coming in my as well watch me. i'm trying to make some money in
the market rebound. in the next hour we'll keep watching the market rally closely. we'll also look at hillary some problems in the growing crisis in europe. that second hour of "varney & company" is just two minutes away. everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet?
hand apparently, they also lovee stickers.ing. what's up with these things, victor? we decided to give ourselves stickers for each feature we release. we read about 10,000 suggestions a week to create features that as traders we'd want to use, like social signals, a tool that uses social media to help with research. 10,000 suggestions. who reads all those?
he does. for all the confidence you need. td ameritrade. you got this. >> here is the big story you're watching. the markets, summer vacation is over and wall street gets back to work and right now we've got a rally on our hands. trouble for hillary in the pollsment bernie sanders now in first place in new hampshire. hillary is trailing by nine points and we have the guy who took at that poll. germany opens its doors to hundreds of thousands of refugees, pleading with neighboring countries to share the burden and the costs, but could europe's migrant crisis create a problem. "varney & company" hour two starts right now. ♪ first this, we've got fresh video coming in from washington
d.c. dick cheney giving a speech blasting the obama administration's iran deal. interrupted by code pink protesters. roll tape. >> out, out of here. >> coming up later in the show, the white house releases a critical youtube on dick cheney's position on iran. and we've got a democrat from west virginia saying he'll vote against the iran deem. the bill has the required votes in the senate, but manchin is another democrat voting against the deal and probably speaks volumes. in the meantime, back to the market. a check of the big board, we were up 334, but a robust
opening. and oil was subdued this morning, we were down 1.17 under that 45 level, but holding okay. the big news, of course, gasoline. gas at $2.39 for the national average. it's actually down 22 days in an and we have 20 stations with gas below $2. the lowest price in the u.s. today. 1.64 at a shell in sumpter, south carolina. joining us now to talk markets and china. peter mauricesy. china will probably do a round of stimulus. >> if they do a huge round of monetary stimulus, i think it will be helpful. it won't be determinative. if they let it drop further, that indicates the old model.
and we see how that is in japan. today everything up except for japan. charles: i think that china needed to use 94 billion last month and they did the devaluation and some other things and they had foreign currency reserves held. how long can they keep doing this? will there be one last grandstand, if you will, to turn this around for them? >> well, they have 3 trillion in reserves, which buys them a lot of time. they can support the yuan quite a long time without relying on devaluation and further underpricing their products. the problem is people are leaving china. capital is exiting china and they had to slap on capital controls, we'll see how well it works in that place. they haven't followed through on economic reforms. one last gasp of devaluation, it will take them down the japan road, which is not very favorable. >> yeah, we've had the lost two decades in japan.
i don't think anybody wants to go down that road. where does china go from here? does it want to be a majority export driven economy or want to be like the united states where two-thirds of the economy is consumer spending? >> i think that it wants to be like germany, somewhere in between. china is so dependent that complete weaning is going to take several decades, but they can have a more robust domestic economy. the first thing they need to do is stabilize confidence in their markets. to do that they have to start being more honest and statistics. do you believe that exports-- they have to be more honest with the stock market. and merging companies and selling shares. one they sell shares on already, the government owns 60% of the shares. they have to be honest about what they do.
they're compulsive liars inside the communist party. they can't simply tell the truth to outsiders because they can't tell the truth to each other. >> if they were honest, what would that do, get more foreign money to come in? no, we're not going to 3.7%. >> let's come to america for a second and contrast ford and general motors. the city ceo at ford mark fields was president at ford when they turned it around and publishing on websites 0 how tough things were for the company losing market share and general motors kept spinning tales and telling yarns, which wound up in the hands of the government, bankrupt. you can't face your problems and deal with them if you can't be honest about them. and people understand this in china. charles: peter, maybe they have to learn the hard way.
we appreciate it. >> thanks a lot. charles: shares of apple again, they have the big event tomorrow, the stock has been somewhat oversold, but having a good session today holding at 1.12. liz macdonald is with us liz: they want a growth vision from tim cook. apple shares are down 50% and they've lost 1/7 of the market cap. earnings reports that we're seeing and what wall street is expecting, a thinner iphone, thinner than the ipad air and also they're expecting to see the force touch, depending on the level of your touch different things come up. charles: will that stop bus holds? liz: we hope so, cheryl is an expect at that. >> that wasn't me liz: and the 4 k capability on the phone and that's detailed and a flash on your iphone, a
much faster touch pad remote control for apple tv. and watching to see if apple tv will allow streaming next year. charles: why would anyone trade in a perfectly good iphone 6 for the new one unless they have a whole lot of new bells and whistles. >> what if the new apple tv has siri attached to it. and i already talk to the tv and then siri would say, cheryl, you're wrong. charles: this is a somewhat ugly story. the migrant crisis, germany says it will welcome half a million immigrants annually the next few years. and they arrived in macedonia on monday and 30,000 migrants were on the greek islands. many so countries are worried about isis slipping through the cracks. and here is what the fox news terrorism analyst told us about
that, listen. >> there are large numbers of refugees and iraqi refugees coming from behind them and we know within syria isis has been able to infiltrate a large segment of the population. >> so the deduction is that isis will use those crossing into one or maybe more countries and getting the help of cells. this ideal situation for isis to penetrate europe. charles: joining us lt. colonel ralph peters. this is an ugly thing, of course, it's brewing for a long time, but when that young kid, three years old, washed up on the shores and the photo went around the world, it hit home. what do you make of it all? >> it's a complex thing with layers. photographers always take pictures of the suffering children and the women. most of the immigrants rushing toward europe are young military age men who just don't want to fight for their country and like it or not, populations
get the government they're willing to fight for. and what we're seeing is people just running away and surrendering the battlefield to islam states. i don't have much sympathy for the young european-- i'm sorry, for the young military age male. charles: what about that some of these, most a lot of them are kurds and they say, listen, we've been fighting hard, man, fighting against amazing obstacles and the united states won't help us, won't do anything for us. turkey, they don't like us. we're facing the odds. i mean, what role does the united states play in this because we destabilized libya and a lot of guys coming from libya, destabilized syria to a certain extent. what role do we have and any obligation because testify? >> first of all, only a small slice of those refugees are kurds. the kurds are fighting for their own country, he have, very different from others who are running away. what responsibility do we bear? we actually bear a great deal of it because when barack obama
took office, the middle east was relatively peaceful and iraq, despite many mistakes by the bush administration, they were con haveva lehave a -- c convalescing. and we see six and a half years later a middle east that hasn't been this broadly ablaze probably since the mongal invasion centuries ago. it's stunning what president obama has achieved by talking a lot and doing nothing. and at the worst possible time we've got a president whose notion of an act of courage is to put ketchup and mustard on the same hot dog. we have responsibility, but charles, what i would do, look at where our responsibility is greatest and that is, to me,
that we have watched the destruction of a 2000-year-old christian civilization of the middle east. so, i think we're responsible for that, for not helping. i would welcome the middle eastern christians and other minorities to the united states. the others, let the saudis deal with them and what are the gulf arabs up to? they're not helping. charles: i saw that saudi arabia took in a grand total of zero, and yet they come to america and the clear war on american frackers, they're not friends, they're friends by default. it's amazing we don't put pressure on them to do their part, but president obama was a lot more courageous over the weekend, i saw him pick up a fish with a glove on, he's making move from the hot dog thing he talked about. we don't have a lot of time. where does this take us. the fires don't go out by themselves. >> where it takes us, it takes the west overall. it means the further rise of
extreme right wing parties in europe, more and more of them in parliaments, because in europe there's a fissure. the germans are an aging population, a graying population. they need workers, they're opening their doors because they want to rake off the most highly skilled and capable of the refugees, but other countries, germany has zero unemployment. for spain, it's over 20%, france over 10%. the small countries like the czech republic and denmark and netherlands feel they're crushed by this influx. where i see further fissures are in the eu within greater europe, even beyond the eu and again-- >> we've got to end it. >> yeah, cultural self-destruction. >> thank you very much. it's a shame. we'll-- glad to have you on, thank you very much. real quick, i want to get back to the market and check on the big board here. the dow holding up, but with a little bit of profit taking early on, liz and charlie. >> you know, markets still go up in a straight line. this is in seven year cycle
since 1994 we've been up, come down, 2001, up and down in 2008. we may hit that begin. >> nice to see the markets building after friday's big selloff. again, i want to see conviction the rest of the week. >> i've been seeing that cycle thing, i'm going to disagree because i think the fed skews this, but thanks a lot, guys. and tonight at 5 p.m. on risk and reward. we've got billionaire hedge fund manager, bill ackman. and also, pope francis making it easier for catholics to anull their marriages, we're going to explain that and seattle facing a lawsuit over there, the new minimum wage hike, we're going to take this to the man who is taking this to court after this.
pattern. been up as much as 334 points. we were going straight up and now side ways. chevron ironically the only one in the red. a big move for ge, regulators approving a takeover of of a power unit, that is a coal company, they crush coal. that's a big name we watch closely for you. it's in a whole lot of people's portfolio. i want to check out the price of green mountain. it's been all over the place and right now up 79 and they're struggling a little bit. now this, pope francis making it easier for people to get anullments and marry again. >> here is the deal. about 11 million catholics divorced in the united states and they bring them back into this and that would boost the u.s. catholic church's membership by 15%. so, what's going on here, the sweeping changes coming possibly from the pope for 1740's for divorced catholics
and may not have to pay more than $1,000 to get an annulment. and not have an outside tribunal review. charles: is this for bringing in more members or pope francis' liberal way of viewing things? >> the catholic church is suffering in the united states. and it's about bringing more in. you can't get the sacrament. >> i'm going to up stage this. charles: my wife is catholic and her priest told me, he was happy with the-- >> he was happy? >> yeah, he's happy. to seattle where people aren't happy. the whole thing about raising to $15. a whole lot of restaurants-- our next guest is suing over the increase. and steve, we saw in the
economic white papers, by the way from left and right, higher minimum rage having a direct correlation with less work, never theless, seattle went through this anyway. >> good to be with you. let me start with, the fact of the matter is that seattle last year, the city council and the mayor subsequently signed a discriminatory minimum wage law that would boost the minimum wage up to $15. if you're a nonfranchise, you get seven years for days in at $15. if you're a franchise business on the other side of the street. you only get three years to phase in. it creates an uneven, unlevel playing. . the franchise business is a national chain. that's why we're suing the city of seattle and 9th court of
appears, and under president bush presented great arguments how this violates the clause of the washingtons state and equal protection laws. charles: steve, it feels like seattle is taking a cue from the administration and nlrb has been fighting to sort of say the parent company of the franchise is one and the same. i don't know if they've been able to push it through completely. that's been their argument the whole time. >> i think this whole fight for 15, really what it's about, unionization and collective bargaining. it's much easier, charles, as you know, to try to unionize a company when you can do them in a cluster as opposed to one-off establishments and i think that's what's happening here. look, i'd rather be talking, charles, to be honest with you, that we're an industry that creates franchising, 18 million direct and indirect jobs. nearly 800,000 establishments
and 40% nearly of our franchisees represent minority veterans and women. yet, here we are dealing with more blatant, politically motivated government overreach by pro union government entis-- entities. it's a great recession. >> i want to ask you real quick. over the weekend, president obama signed in the executive order requiring a paid sick leave for a federal contract workers and to me, we're going down the same path. what do you think about this? >> i just think it speaks to the point of look, i think our franchisees want our employees and give them the best benefits they can. we are an industry of opportunity and again, charles, what this is. it's more executive and regulatory fiats by administration, that seems used to it, but they don't understand the economic consequences of the small business owners and clearly don't understand free markets and free enterprise. >> that's right, if they understand it then they don't care because they want it to
look a whole different way. good luck to you in your lawsuit, a whole lot of small businesses are going to be watching and we're going to watch as well. >> thank you, charles. charles: can this be a sign of desperation for the hillary clinton campaign. she asked people to sign this, it's a pledge to vote for her. that's nuts. we'll have more details ahead. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought.
great time for a shiny floor wax, no? not if you just put the finishing touches on your latest masterpiece. timing's important. comcast business knows that. that's why you can schedule an installation at a time that works for you. even late at night, or on the weekend, if that's what you need. because you have enough to worry about. i did not see that coming. don't deal with disruptions. get better internet installed on your schedule. comcast business. built for business. >> all right. take a look at this, tesla, believe it or not, they're not that far from the all-time high. and the stock doesn't go down. also canadian energy company, amera buying u.s. energy company tesco, the biggest winner in the market today. up at 24%, that's their biggest
winner. now to hillary clinton, this is nuts. first of all, bernie sanders has been coming on and now he pulled ahead of her in new hampshire. the maris poll has him ahead and joe biden, unannounced, 16%. and tweeted over the weekend, it's a pledge that hillary has everyone sign in order to attend her event, a pledge that they will vote for her. but that's not it at all. look at this one, i'm laughing at barnes & noble, that magazine, look at the cover of the latest issue. you'll crackup all over the floor. it feels like hillary is getting desperate. and to telling someone to pledge their vote-- >> it looks like a weird mistake made by a local campaign staffer and it looks did up to say i commit to vote
for hillary clinton and listing the volunteer opportunities for her campaign. it seems like incompetence. possibly a local campaign staffer. charles: and the other side of the ledger, this is someone who has been in campaigns before and run with her husband. clint clinton's side tweeted, it's not a restriction to attend. >> okay. charles: talking with strange bed fellows. did someone come out in support for donald trump over the weekend? charlie gasparino has those. and it looks like the hurricane season, and we have the ceo of g gennerac coming up.
. charles: and we have this just in from baltimore, the city has settled with the family of freddie gray for a reported $6.4 million. now, you may remember gray's death in police custody sparked nearly a week of riots in baltimore. that was earlier this year. six baltimore officers have been charged in his death, those trials are going to begin shortly. big, big settlement there. a lot is going to come back. right now check on the big board, waffling up a right way up 280 points after a whole lot of crazy sessions. take a look at netflix, that was one of the stocks that predato murder the market the most. netflix made huge mistakes and competition catching up to them. and oil down a buck 19, and good news comes on gas, though.
$2.39 for the national average, that's down 22 days in a row. in fact, we've got 20 states where at least one station was gas below $2. the lowest price in the u.s. today, 1.67 in south carolina. and former shell president john, listen to what he has to say. >> we don't have confidence that the economy is strong enough to promote and support sustained growth and demand. and i think until we see better signs of demand growth, we're going to kind of waddle around where we are. it's not a fun time for the industry because you really can't make investment plans on this kind of oil price. charles: now, he joins us now. gas coming down but maybe that's -- where rewe going to be let's say two or three months from now with gasoline? >> i think nationally by christmas, we're still looking at the average to dip under $2 a gallon. i think that's still a very strong possibility. you know, we talked about last week on
your program here that there's a lot of headwinds that remain for oil especially now that labor day is gone and over with, oil demand is going to begin dropping and refinery maintenance season is up coming. that's going to keep ushering low prices at the pump. charles: i thought it put pressure to the upside. >> when we switch to summer gasoline, there's upside pressure. but winter gasoline, which is what we're talking about here in the next few weeks, that puts significant downward pressure. i went the eia site and i can't believe the percentage that goes -- but refinery costs have gone through the roof. is that something that will keep oil from eventually getting much lower than maybe just under $2. >> well, i think a lot of that refining sector looks at the conditions and of course demand going to weaken, refinery profits are going to
be become sluggish here this fall, demand is going to go down, margins are already pretty thin, the crack spread has remained under pressure. so it is a little bit weaker when it's slower that's going to put more pressure on refiners, certainly gas prices as well. charles: well, hopefully some of that making it to the broader economy. thank you a lot, patrick, we appreciate it. and now to this at least when it comes to economics at least his piece in the new york times had this quote. mr. bush has chosen to attack mr. trump as a false conservative, his willingness to raise taxes on the rich the issue in which mr. trump hands to be right in a republican establishment has been proved wrong. and charlie gasparino is here with us. it's not surprise that he has come in on this but it does say that donald trump, some of his core economic policies so
far have seen anything but conservative. >> i think it's one thing for donald to deemphasize one thing about the republican party, they talk about all these issues that are more if i say to the average republican voter that makes about $60,000 and less a year, not to the hedge fund millionaire. it's one to thing emphasis and another to thing come out and parrot what paul, hillary clinton, bernie sanders wants, tax the rich, no change and no tax reform where you plug all the holes, basically lower the rates. by the way, the carried interest, which is a way of taxing, a favorable taxing treatment that hedge fund guys get, that would be one of the loopholes that closed. and that's when we have to see out of donald trump. and i will say this. he says he's a conservative and once again i will say
this, i like donald trump, his tax plan, and he should be publishing it shortly, will be a fairly significant test as to whether or not he's conservative. does he -- is he just playing the populous card by going after hedge fund guys because, by the way, they support in mass large part his opponents not him. charles: right. >> or is he really serious. charles: and a lot of people aren't going to argue about that. the 1% of the 1%, the hedge fund paying more taxes. but if i'm a small business person maybe don't come after me. if i happen to be marginally successful in america, i hope i'm not punished for it. >> right. charles: but as a form of punishment because we know we could tax the heck out of all these hedge fund guys, it's not going to change the economy. >> sure. and it is a test issue. does he come with a plan that says we're taking down the rates, simplifying the code and you hedge fund guys in the
context of us making it simple, you're going to lose. charles: you don't come out of this unscathed again. >> yeah. i loved how paul doesn't acknowledge that the government has done that everything he's wanted since 2008 and we only have 2% growth. charles: great, great point. all right., guys, we've got to leave it there. we're coming back. krugman likes donald on the economy. >> doesn't that scare you. charles: he'd said some other things about him. we've got a slow hurricane season so far so what does that mean for the maximum data daddy the generate company? well, the company that makes the emergency generators is with us. and in the morning meeting, i said it differently than it was spelled in the teleprompter. your stock took off particularly around the time we had the big hurricane that slammed into new jersey. the last couple of years not
necessarily so kind. what's going on there and what's going on if you can with the average consumer being able to afford these kind of products? >> yeah. so, charles as you pointed out in the opening comments, it has been a slow hurricane season, we didn't get the hurricane last year but the business isn't all about hurricanes, a lot of the products are the outages that happen from thunderstorms, 70% of all outages do happen because of weather. weather has been a bit slower the last few years so our residential business has been a little bit slower as a result. our commercial and industrial has been good, though. the nonresidential market has picked up, road construction, and we serve those markets as well. charles: but can we gauge something from demand for your products with respect to how the economy is doing? because this is a pretty big investment for most homeowners. are we just not there as a nation right now? or are people just sort of holding back because they're not sure? >> well, you know, the product
is a pricey product, the permanently installed ones that you're referring to are between 5 5- $10,000. so a lot of the products are how people feel investing in their homes and home investment has not been terrible but it hasn't been great spieth as a result of that people are reluctant to make those kinds of investments. charles: so it's a little bit different than putting in a marshal countertop. but you've got to make the decision that people are starting to spruce up their homes because the real estate market is coming back. but you've got to have a certain amount of cash to put it in. >> yeah. a lot one of the trends we have seen is this aging in place concept where people want to stay in their homes beyond retirement. adding different products like back up generators can help maintain independence a lot longer.
and doing any remodeling of the electrical system of the home, adding a back up generator is easy at that point. charles: thanks a lot. >> thanks, charles. charles: now to the mexican drug lord, el chapo, you know, the one who escaped from prison earlier. now, his son tweeting out this not that i recollect appears to show his father. liz, do you think that was a mistake or just more from these dudes. >> it doesn't appear to be the mistake. the gentleman they believe is el chapo, if you're looking at it right now is to the left, so the to the son's right-hand side. now, he tweeted out also a location which was costa rica, and there's also a town in mexico called that. so are they going to be on the trail of this guy? sure there's still a multimillion dollars reward for this' leader arrest. and the thing is, charles, he is extremely violent.
he's one of the most violent gang members in the world on the most wanted list today. charles: yeah, tens of thousands of people have died, particularly in music. >> that's right. charles: they make music about him, they love him, he's like the bonnie and collide. >> killed a lot of people though. charles: yeah, it's a shame. and time now for the sector report. cheryl. >> well, we were talking so much about apple and amazon, i want to give everybody a look at what the stock is doing. right now it's up a little bit more than two and a quarter percent, that makes apple positive for the year and i can show you if you look at the long term chart you can see that apple is in the green for the year and of course watching amazon and the other guys and everything is up right now. and twitter is down. up next more trouble to
hillary, she's in second place and behind bernie sanders in a key state. more varney next fact. fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. to breathe with copd?ow hard it can be it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled copd maintenance treatment that helps open my airways for a full 24 hours. spiriva helps me breathe easier. spiriva respimat does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva respimat. discuss all medicines you take, even eye drops. if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain or problems passing urine, stop taking spiriva respimat
and call your doctor right away. side effects include sore throat, cough, dry mouth and sinus infection. nothing can reverse copd. spiriva helps me breathe better. to learn about spiriva respimat slow-moving mist, ask your doctor or visit spirivarespimat.com >> i'm nicole petallides with your fox business brief. right now the dow jones industrial average bouncing back after a tough week last week where the dow lost 540 points but today up 237 points up more than 300 earlier but still gains across the board up 1.5 fortes dow and also the nasdaq. looking at some of the dow
leaders, all ten sectors higher, walmart, auto apple, microsoft all gaining more than 2% each, apple has a big unveiling tomorrow, we're waiting for that. chevron back and forth. the only dow component has gone into the red, oil pulling back over a buck and chevron back and forth right now. fitbit, raising this one to an overweight and continuing to watch the development. and start off at 5:00 a.m. fox business a.m. lauren simonetti and i with all the news you need
charles: take a look at the big board. not where we were, up 100 points higher nevertheless a strong startup and of course don't forget about oil all over the place last week. off slightly today 2% 44.96. now to the primaries. iowa donald trump leads with 29%, ben carson at 22%, the rest of the gop field, however, in single digits. and on the democrat side, bernie sanders is pulling ahead in new hampshire, the latest nbc poll has him at 41%. hillary at 32% and biden at 16%. joining us now director of the institute for public opinion. lee, a lot of people are
saying, you know, well, some people rather rationalizing this thing with bernie sanders saying he lives in neighborhoods state but hillary was killing him about 30 days ago. >> sure. it has flipped and it's not so much that democrats dislike hillary clinton but clearly bernie sanders has touched that antiestablishment cord that even donald trump has touched onto the republican side. you know, folks are looking for somebody that's going to shake things up and be very authentic and the campaign having trouble demonstrating both of those. we have two parallel stories going on here, both from the democratic and republican side and certainly on the democratic side, no one is talking about inevitablity anymore when it comes to hillary clinton, her numbers have changed dramatically in new hampshire. charles: so two parallel stories but with the same sort of -- the same central theme. >> yeah. absolutely. charles: so you're saying it's more bernie sanders and less
e-mail controversy? >> well, nationally when you look at hillary clinton, nationally her negatives have been rising when you compare her against in iowa and new hampshire against jeb bush and donald trump. she doesn't fair very well in terms of general. so democrats don't seem as hindered by the e-mail situation in terms of the overall assessment of hillary clinton when m it's a drip, drip prop that doesn't seem to get away and she has to get past the debate and the benghazi hearing and all these e-mails they haven't been able to wrap their campaign around that in a good way. >> yeah. it does take time for a narrative about a candidate. do you think the voters are more in engaged now at this point with the process or do they care about the polls? does it matter. >> well, i think what we're seeing right now is an unusual involved during the summer. i mean look at the viewership on the fox debate.
more than 7th game of the world series last year. this is just -- astounding amount of interest. some of that being driven by donald trump obviously. but you have an open seat, there will be a new president, you know, once obama's term is up and people feel this is a chance to move in a different direction. charles: before we let you go, you've been doing this for a long time, continue to say ignore this, donald trump won't be the nominee and neither will bernie sanders, forano someone on the outside looking for, i don't know how they come to that conclusion. what's your experience tell you? >> both candidates are tapping into core primary voters. so as far as iowa's concerned and new hampshire, we may see people like donald trump and bernie sanders do very well in these first rounds. the question is can they sustain it for the long run? and ben carson is force to be
reckoned with with the white group voters. as you say in your mirror, objects may be closer than they appear. charles: he's close -- and he's coming on quietly as well. absolutely. coming up on coast to coast, by the way, this afternoon, neil cavuto, donald trump's son, eric trump, you get a take on his father's lead in the poll, eric trump and kneel cavuto, that's going to be a good one. well, gas is getting cheaper but don't tell that to indianapolis the city spending millions on electronic cars. right after this type e* does. with e*trade's investing insights center, you can spot trends before they become trendy. behold, these are two can you spot the difference? the wind farm on the right was created using digital models and real world location-based
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the rest is up to you. call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ >> despite aaa forecasting $2 gas for half of the nation in december, indianapolis is becoming the first city to launch an electronic car sharing service. jeff flock is trying out one of the new cars. residents aren't too happy about this decision. why? >> some of them are not. of course this is maybe not the greatest time to launch an electronic car service with gas the lowest its been in a decade. i'm unlocking this car, a blue indy car or a blue car; right? scott prince, who is the general manager of blue indy. this is the way that indianapolis is going to get around here now.
>> part of it. it's part of the transit for indianapolis. they've got a strong bike share and strong bus system and then this will be the electronic vehicle car option for folks whether they're a student or any citizen. >> i'm going to pull this off and here's how it works, cheryl. unlock this thing. give it a little tug like that, there you go, it worked. we're good to go. now, cheryl, if you put up the sales of electronic cars, they haven't done so well lately and some of that is of course driven by this whole fuel price situation, if we take a look at fuel prices,. >> bulk up. >> got to buckle up, that's going to take forever. here in indianapolis price for gas even lower than elsewhere around here. can i get this going at least? we're good to go. so anyway got to get the break
off. well, you know, it's easier for some people to drive than me but there you go. live television that's what happens. this is what it looks like, cheryl, i'm going. >> off you go. by the way, you just cut the guy off trying to go down the street. good driving. >> i do it all the time. >> liz, jeff on the road. >> great report. first two hours of "varney & company" in the books, here's a highlight. >> they say a lot of things that they want but they're not undertaking the structural reforms that will get them to a consumption based economy and that's an issue there. >> we now see six and a half years later a middle east that hasn't been this broadly since eight centuries ago. it is just stunning what president obama has managed to achieve by talking a lot and doing nothing
here's the big story 90 minutes and dow holding on to triple gan almost 100 points off at high. after a long weekend it is refreshing way to start. but be here's all of the important questions, we're going to end up be the time this markets closes. donald trump, well look out he's leading in polls in iowa but ben carson is closing the gap but can he overtake the donald? judge andrew knapp is with us. going after a dick cheney criticism of president obama eetion iranian nuke deal. another hour of varney starts right now. ♪ >> first this, breaking news the
city of baltimore reaches a 6.4 million dollar settlement with a family of freddie grey now he's the 25-year-old man who died from neck injuries while in police custody. just last week a judge ruled it that the six baltimore police officers indicted in grey's death shob given separate trites. p trials now deciding whether tried in baltimore or another jurisdiction. will respond to the latest developments in this story, certainly going to be talked about a lot at the 11:30 now a quick check of the markets. dow jones industrial up 250 points up 234 points at the beginning of the session but holding in there pretty l well. biggesting winner wal-mart, ge and boeing all big names pup nicely. the energy company rather -- and marra buying it for $6 billion.
winner up 24% on that big bill. pup getting hammered it got last couple of weeks. a lot of people thinking they made critical mistakes allowed competition to catch up with them. don't forgetting oil. wilder than the stock market last week down 45. down 70 cents right now. 1.5%. chief investment officer hank smith is here. you were actually buying into the rally. what are you looking at? >> yeah, look, corrections and we're in a correction right now normal occurrence in any bold market. we don't think this is going to lead too a bare market because bare markets always occur in anticipation of a recession, and hard to see any warning sign it is flashing of a recession in the united states going out if 12, 18 months so we're pretty confident that this is just a normal correction. it is creating some wonderful evaluations, the market is
selling out 14 and a half times. that is awfully attractive to cash that has nothing and fixed income which yields very little. >> there's a lot of -- listen high flyers like netflix thatn't cos to pull back a little bit. and then old state wal-mart having troubles before the crash. then there's industrial names. i understand you leak some of the really big industrial names. we do any time you have a pal pullback it highlights investors to get better than bond yield it is through stock dividends, and you name the few wal-mart, intel, all yields above 3%. the growing income streams each year. you can include companies dupont and jpmorgan. johnson & johnson you don't have to take a lot of risk to get better than bond yields here we
are in the 7th year of a market that is larger and stronger than average yet you have that phenomenon x which is exciting. >> we have 100,000 private sector jobs. the wages aren't moving at all. feds may hike rates anyway. yorn to prove a point. maybe you're starting to hear there are more than you did a month or so ago. you do in terms of global recession because you do have economies like brazil, like russia, now even canada in a recession. but china -- slowing down probably feels like a recession because rate of growth has slowed down so much there. but in terms of the u.s. no we "don't ask, don't don't see much of a recession there. look this has been the so-called 2% recovery. one good thing about that
charles is there's not enough growth to create some of the traditional excesses that you might see in inflation in inventory in employment that would lead to next recession. so i think we can have a much longer cycle kind of akin to the 90s which was a ten-year expension cycle here. >> although flip side of that you don't see inflation in the most important area that is people's paychecks at some point listen we may get a break because of cheaper gas but at some point that has to hurt the economy. businesses aren't investing consumers aren't are spending out at, you know, like they did before, in fact, credit card debt is still down. you know, that's a double whammy isn't it? >> well, it is and the wage picture slowly starting to improve certainly compared to the first three or four years of this expansion where there was zero and you're right to point out that consumerrer has yet to spend that gasoline dividend. but they've increased savings
that's not a bad thing here. and business spending has well look they're hoarding cash but those are all potential tail winds of -- that could help if they kick in help elongate this cycle. >> all right hank smith you laid it out for us. we appreciate it. thanks a lot. >> good to be with you i'm working double duty tonight so today rather back on 6 p.m. making money, and that's exactly what we'll do. we'll see how we close. but i've got a few ideas i want to share with you tonight as well. back to politics right now to latest iowa gop poll shows donald trump and ben carson with very demanding leads former bush senior spokesperson is with us. mercedes jeb is third place only with 6% of the vote. obviously, he's fading. but is it too early to say that he's done? >> oh, no it's too early to say right now. let me tell you polls are fickle. polls tell you who's hot and who is really connecting what we're seeing in iowa right now is,
obviously, we're on the trump train seeing that in new hampshire, south carolina, florida, and so it's interesting to watch the phenomenon. right so right now trump and carson are up in iowa. but that's saying that the outsider message is working. this is a protest vote right now among the iowa i saying that we know that washington is broken, it needs to be fixed guess what maybe we don't want a typical politician but an outsider to fix this problem that's what you're starting to see reflective in poll numbers whether that sticks to election that's a different story. >> why would it change. if i want an outsider right now, why would i change my mind months from now or year from now, i'm, you know, this being fed up with politicians didn't happen overnight. >> no, that's right this has been coming. but let me tell you something, we have several debates that are going to happen from here till right before the iowa primary. number one, number two you're going to basically -- >> you want to debate? >> not saying --
no charles, you know, at this point what jeb bush needs to do is he's going to need to make his case and really continue being out there working, working the grassroots activist. whether that's going to translate into votes, it is sort of a wait and see. what we're seeing right now is that outside reverse clearly winning at this point. but when you look at 2012 for example herman cain, governor rick perry newt gingrich they were up on top during this time right after a labor day. again, polls can change depending on what's going to be happening in next couple of months it is still a long process to go. >> you know the establishment d.c. very well. you've been part of the system for a long time. when does the establishment get nervous? because i know, i remember -- rudy giuliani had a comapgding lead and fred tomp son-in-law -- thompson up there and michele bachmann but didn't feel the same. >> because we've got if -- what 16 candidates, and so it is
still such a large group. you have the superpack involved if you've got money you can go through iowa, and new hampshire, you don't have to drop out right away. so it is very unsettling and i would like to say it is like we're entering into unchartrd territory in politics. but with that being said, there's definitely a strong sense of the fresh perspective the fact that they feel that republicans in congress haven't done their job, and they need someone here to come to clean things up, and also it is, you know, an a anti-obama thing. they don't want this -- they need to make sure that they find who could really win not only the primary. but the general election of 2016. >> people are anti-president obama, boehner, mcconnell all they've done nothing in return for it. mercedes really appreciate it. >> thanks so much. latest polls showing brn knee sanders pulling ahead with 44% of the vote in new hampshire. hillary right now in the poll
rather. hillary 32%. hillary clinton, and cheryl, adam shapiro with us. hillary looks like she's in a lot of trouble right now. >> bernie -- maybe less of a testament about her being in trouble the fact that bernie sanders like donald trump kind of the aipght anti-establishment candidates seem to resonate. e-mail scandal seems to be hurting her as well. >> then you hear what democrats actually questioning her honesty. that's trouble for her. oarngd, one way to look at this perhaps clintons are looking at this is you don't want to go in this early before the election. being the front runner because all you can do is fall. he's fallen now perhaps she can come back. >> golly. i thought seeing fred thompson leading at one point for the republicans but that would be serious. hillary clinton and you know, you read all of the accounts after a election, you know, she lost to barack obama, that whole thing in iowa, and questioned everything about herself, about her campaign she called staff together in new hampshire.
she was in complete disarray. she never recovered from it, and it just is tough for me to believe that she's okay with this or is not in extreme panic right now. >> obviously she's got to be krnlged at the same time less if bernie sanders and more about joe biden, and whether president obama is going to endorse joe biden monica crowley was on the show telling stuart couple of weeks ago that basically that president obama is so darn arrogant he wants to pick a successor and joe biden will continue his legacy. >> also hillary in politics in new york and "new york times" rather report that clinton will show more humor and heart on a campaign trail than there's former obama senior aferredz advisory david axelrod. detailed plan to show more authenticity and spontaneity. can you plan to be awe thin authentic and spontaneous?
>> no you need to be who you are. but the fact that axelrod making fun of this tells you that obama machine is already behind joe biden. he hangt announced yet but they don't like the clinton and they don't want the clintons. >> bad blood to clinton and obamas none of that has ever gone away. remember, she had her her hard e running against obama because she didn't resonate and connect believe it or not with female democrats. and she may face that same -- problem again. this time she's not connecting like bill clinton was so good at doing. >> unless she connects the more she thinks this is somehow like a coronation i think that's turning off a lot of people as well. she is to roll up her sleeves. >> person who connects is carly fiorina that is who she trying to connect with people. connecting with progressive. >> secretary of state john kerry warns that russia could escalate to civil war in syria.
did you want matter, though, russia sending military aid may be a lot more. we have the full details for you, next. so jill, i know the markets have taken a hit lately. mmm hmm. just wanted to touch base. we came to manage over $800 billion in assets, through face time when you really need it. it's how edward jones makes sense of investing.
>> guess what all are hanging tough. up right now and not in the dow. but it is biggest winner among biggest winners look at that almost 8% chesapeake is battered heavily. one of the big hedge fund is down there. tug-of-war and written off for dead trying to show is life here. back to politics white house taking to youtube with a video criticizing vice president dick cheney plan to oppose iranian nuclear deal blake burman is in washington with the details. >> hi there charles the white house took a direct swipe with a two and a half minute video. released this morning that is called wrong then, wrong now, it was posted on white house.gov.
the video tried to discredit former vice president scathing criticism of president obama l's iran deal. by saying cheney was wrong in the leadup to the iraq war, and a should not be trusted again. here's a little bit of it. >> dick cheney was wrong about iraq why plan to you about iran? >> because i was wrong about iraq -- this released prior to minutes earlier this morning he was briefly interrupted as you'll see there by a code pink protester. throughout, though, cheney continued if to rebuke the deal. providing them a path way to a nuclear arsenal is not an act of peace it is not the only alternative to war. it is madness. >> charles, there are a host of speeches and rallies today and
tomorrow here throughout d.c. on both sides of the debate clearly as you saw there, the white house felt it was best to reignite fits pitch by focusing directly on cheney this morning. charles. >> amazing that dick cheney gets under their skin. thanks a lot leave it there because it is not going away become on that subject. despite u.s. warnings, sources say that russia looks to be preparing for a major military deployment in syria. with we now former state department official christian. all right christian, with you know if russian somehow may be building base there, i guess it would be syria, syria's regime last efforts to fight off isis, but what would that mean for the entire region? >> it is a big change. russia has had a base in syria for a long time, in fact, throughout the cold war down in tarrtus this is further north that is going to be a major base.
russians asked permission at least from one country from greece and we've asked to say no. they've asked them for the right to fly warplanes into syria. so appears to be a major escalation, with a major step further in backing assad. they've backed him for a whites but this is a major step up. and it seems that russia really wants to have influence in this region and in this country. admit that had he can't find more recruits to replenish his army and it gets smaller and smaller an you have to wonder what russia is thinking about. we know they failed in afghanistan, and why would they want to make this major, major have this presence there? i get the mediterranean maybe what it all means but it's a big gamble. >> right, fair a. of the gains that isis has made with the expense of other rebel groups. you know assad has lost a major part pa of his country and has been responsible directly or
indirectly for perhaps a quarter million or more death of his own citizens but he has survived and russia fire departments to back this strong man. she's been through four years of civil war and russia economy is hand strung by decline in oil prices. i argue that is a stronger dollar but also gee politics also the middle east refusing to constrain supply. russia wants to influence middle east this is really one of the few they have available so it is probably some of that going into putin opinion's thinking. retreat if you want to call it that he has a name for it but it feels like we left the region far too early when it was a cusp of a healing process. having said that it fells like there's a vacuum there. russia must be enticed by it. but what about others in the region as well like saudi arabia, israel, it feels like every country there has maybe to fend for itself now. >> all right well you know all
of these countries can look for for instance john kerry repeatedly implored russia to do more so. when we expelled him from the g8 it was kerry who went to sochi clear there's no influence whatsoever you have saudi arabia in the uae leading a fight in yes, ma'am about against iranian backed. so there's growing confidence in the region. part of that is taking a burden under themselves which may sound good, of course, but limits to what those countries can do by themselveses in europe hundred was thousands of refugees are pouring across borders. >> heartbreaking thing and confusing getting worse not better. appreciate it. >> thank you, charlings. all right adam newest range rover is revealed an it is called a luxury fortress on wheels we're going to show you
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>> which would you rather cross with -- [laughter] >> i don't know. so you have a date, shows up in a tank on a range rover what's one? >> i recognize military tank. but still golly this is amazing that there's a market for this kind of stuff. >> this is -- for a while do you remember that when the humvee came out hummers after gulf world war these were popular vehicles. >> those bombproof all of that kind of stuff. crazy. fun if you can afford it. gift to federal contractors on labor day. managed story basically arguing that everyone deserves their fair share. more from this, next. >> take a q from the world work together in a bipartisan fashion. piedged a way to make paid leave fade family, and medical leave a reality for all if americans.
of baltimore reaches for 6.4 million settlement with freddie gray who died from a neck injury while in police custody. david webb is here, all right david what do you make in the news? >> of this smart business with the city. i mean let's really look at it. this kaition could cost them so much more to prosecute, security, the officers damage to property, so they're going to take the business angle l that happens in a lot of these cases but it doesn't mitigate other problems that exist in the community. first trial is a not guilty decision. i don't think anybody will think about this. you have more rioting and outrage and a lot of destruction. performing so city is trying to walk this off. when you look at the details of this they don't know the police if they'll take any liability
for this if they'll accept any responsibility there's a civil trial underway and still questions around a federal civil rights suit. city wants this to go away. the challenge, however, is they have to reverse what started with martin o'malley 20% of the set residents in baltimore who were arrest ad this broke down the trust between police and community and problems to be fixed and this lish left progressive government has not fixed those problems or addressed them. >> but outrage after the freddie gray incident burning down the town, the mall placed in there, to create jobs creates opposition. pharmacy. so how does that -- rekindle things is? you think that this here is sort of mayor's way of saying hey to the city. you know -- if they go through a trial six police officers you're talking about potentially 10, 20 million
dlarls or more plus the unrest that what is depending on verdict uncertainty what it does to community to the city reputation so you know, i can tell you i've seen this before -- by don't know what the verdict will be against these officer as so were they somewhat premature in doing this? inch i don't know if they could have waited or a right or wrong time and can't prejudge the outcome. >> do you think it is dangerous for other cities that have been going through this same thing on staten island here in new york. do you think this was a president that is set moving forward lawyers use this case, this settlement, to bring up in other cities, is that possible? >> in fact, this is not a precedent for other cases this precedent has existed for decades if you think about it. wrongful death -- >> in the custody of this city. that's not in dispute that adds another issue it was their job to maintain his safety.
that did not take place. therefore -- >> there are questions but this is the thing that lawyers say better to settle than to go to trial. >> monetary decision. i think city saidlet get this off the table. 6.4 million. >> there's a fair amount of outrage this thing won't go away. thanks a lot a david. take a look at the market up at the peak up to 1 55 points right now hanging in there see what happens when it closes but right now hanging opinion metro opened a chinese weapon with shop using alibaba platform that has been good news, it has been a disaster up three buck this is morning . advisor president jason with us. jason, you say that we won't see any sustained rally until we get a clarity on the fed. but the fed -- i don't know. if that's the case we may not see any sustained rally for a long time because i don't know
if feds will be ever clear. >> that's right. you know what, that's okay. we've been habituated to use a psychological term for past six years market every year. guess what that's not sustainable so you know, listen we may be in a sideways range bound environment at least through the end of the year especially if teated doesn't give us any clarity if their next three meetings which i think they will give clarity but listen we're not going to go up. >> what if fed says no matter what we're data dependent. there's no sign of inflation which means no one is making no more money, no wage inflation but we want to prove that wall street doesn't control or tail doesn't wag the dog okay if we're early with the rally saying great one and done get it over with. interestingly enough i don't think that would be horrible for the market, okay. and first of all on a flight tangent, you know, last --
last friday jobs report did actually show even though it was very enkremental a little bit higher wage groat than we've seen before. so that could be something that the fed could look at an say hey we're ready to raise rates. to answer your question i think counterintuitively one and done may help market go higher. help housing market because people may want to get into housing before rates go up further. >> we'll see if they can be -- articulate until then i don't know what they're talking about. on the closing bill with liz claman billionaire investor warren buffett you want to know where he's putting his money at 3 p.m. in the latest mayor poll shows donald trump and ben carson in top two spots with a very strong lead over the rest of the pack i spoke to bush senior about it earlier this hour. take a listen.
>> outsider message is working. this is protest vote against iowans saying away is broken, needs to be fixed guess what maybe we don't want a typical politician but outsider coming in to fix this problem. that's what you're starting to see reflective in poll numbers. >> everybody is now acting on same thing but mercedes former establishment l person in the thick of it seems believe as most experts and pundits it will be establishment person and could be hillary clinton, and a jeb bush. are they resisting what feels like a tidal wave? >> they forget it was 20 years ago ross, he didn't gain enough votes only 19%. he wasn't president but did enough to sway that election, and so you don't necessarily as mr. trump is doing you don't -- he's going to win. he's playing to win. but he can win in other ways than just getting the election.
>> what is interesting too adam is he's look the chance of him winning at this point kind of fall off. >> of the election -- >> a lot can happen between we're so early on. iowa caucus isn't until february we have a long term to go. i will say this he's making a established republican, gop hopefuls that has been fascinating to watch. >> they're fed up with the elite. inch they are, and speaking of that. president obama sighting another executive overed order for all requiring sick contractors beating obamacare. betty is here. seems to me this is going to be another major blow to small businesses. >> it is bad news because it is higher labor cost but real bad news is per people looking for job. because when labor costs go up, it is harder to hire and this her anemic jobs market. so -- >> it looks good i guess maybe to voters that sound good perhaps to voters. but he's talking about this whole healthy family act that
he's pushing through. businesses is 15 employees have been to do this kind of thing, and addition to complying with obamacare and hiring minimum wages. >> many mandates on top of obamacare now only going to directly affect 300,000 workser who work for contractors but the political message is really big. the president is declaring war on war and business and like americans to think about it this way and keeping with the message of his proported successor hints, bernie sanders, the democratic party is moving way to the left. he claimed it won't increase cost but he has a cost. >> joe biden talked about the average worker not having a shot in this economy but it is president obama's economy. they're saying that capitalism doesn't work.
>> that is the message they're delivering that this has to be discord that workers and business don't rise together been but the fact this is less take home and vacation pay and benefits for those affected by this. >> betsy mccoy appreciate it. hillary clinton more trouble over her e-mails all rise, the judge is next. the promise of the cloud is that every organization has unlimited access to information, no matter where they are.
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your fox business brief we're showing gains across the board. lost 540 points last week. today right now, the dow is up 261 points gain of 1.6%. nasdaq up, with and a s&p up 30 at the moment. looking at some of these names that are doing well kicking it off with technology. technology is best of the bunch within and industrial, and financial all doing well. ten sectors, in fact, are doing it -- it is back 7% it is risk on. everybody is buying everything today and some picks off with china shanghai gaining. all of these stocks that are related to china. alibaba, apple -- all up more than 3% each. alibaba up 4%, and amazon announcing a 50 dollar tablet, every day at 5 a.m. fbnam with lauren simonetti and i.
>> all right take a looks at it big board you can el foot drum roll intnsty probably be a wild close to the session. fitbit started out the gate nicely really big move. morgan stanley they chime out three or four of these over the last analysts said from 43. hillary clinton standing by her decision to pay out a poblght pocket of a private e-mail
server she used as secretary of state. all rise andrew napolitano is us. paying for the server could that do it in? >> what is significant here is she paid a state department employee to install the server a state department employee who had already had his big board you can el foot drum aware of the fact that she and he would cause her security -- a classified documents to be diverted away from the government server and on a to her own. so she now has acknowledged participation in a criminal conspiracy to violate the laws which required her everybody that worked for her to work in government approved classified documents. if she had an outside fern that installed a server i didn't know what she was going to do with it
but paid a government employee toll violate government law she paid him to break the law. >> but her argument would be a, we thought it would be better to hire with expertise and a never hid it from everyone. no one happened to ask us about it. >> she hid it from the government because statute she'll be accused of violating is seam one that is general petraeus declined is failure so safeguard classified material. she said she didn't have anything mark or classified nothing is marked classified by marked top secret, l secret, or confidential but same word gails that her hoses was notorious for. you think she'll be charged. >> no because of the politics that are involved. because she's in the hands of the most sophisticated team of
investigators at the fbi, that they will find enough evidence to recommend an indictment. what happens after that recommendation is when it gets more political and less legal. but there clearly is enough here to pursue her far more than the case in general petraeus answer as that she had once this became -- came to light, could you consider that a coverup or could she go back again to saying hey, i said classified not top secret but enough word sniffing if you will to be a coverup attempt could that become a legal problem. it is coverup more so than the crime. >>up occurred with wiping of the server removing the evidence what she received. and -- i have to tell you. >> 30,000 e-mails to daughter talking about recipe in a wedding. >> i have to tell you with a smile she did a lousy job of wiping or whoever did that they have a lousy job because they
have found hundreds of e-mails that contain classified material some so classified they are satellite views of nuclear facilities in north korea. how she could claim that that's not classified is beyond me. no, i think her words where she mocked whole thing and a said yint sending or receive that's for political but not legal consumption but more in hot water legally she gets. >> any way out of it now for her too little too late. can she somehow -- mea culpa with a legal to help her on the legal end? >> i cannot conceive of one. fbi knows where her classified e-mails came from, where they went to, who hacked them and what national security damage was caused by the this scheme that she constructed. >> if obama administration won't pursue this further could a republican goap gop winner
retroactively -- >> so this is five years. i don't think it will have expireed in january because this was until 2013. >> that would be something. judge thank you very much. appreciate it up next all on doctors visits. we'll tell you the reason why, right after this. and coming up on neil cavuto donald trump's son eric trump talking all things 2016 that's at 12, noon eastern just few minutes away.
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and talk to unitedhealthcare about our plans, like aarp medicarecomplete. let's get you on the right path. call unitedhealthcare today. >> health care is seeing doctor on the pope and in person. in fact this study shows large employers offering this service next year but isn't any good. medical a team, i don't know doc i'm reluctant to have this teledoctor thing. i feel like aisle getting gypped on my money here. >> i have e reservations too but national business group you talked to said next year it is 74% of large employers are offer aing this service so maybe --
let's start with that. if you're sick, you're at work, you're not enough time to get to the doctor. you have some image of your throat online. takes 15 minutes your employer is covering it. cost maybe -- 100 or something like that. you get your penicillin or -- >> cool with it? : not totally but i don't think i can be replaced or doctors like me because half of the time the patient is telling me on their way out the door by the way doc, i have chest pain i have to tell you i'm getting divorced by the way doc my alcohol consumtion i would lose thaton line and that takes the guts out of patient negotiation so i see a purpose and that can save money for businesses but severe limitations. >> siri is giving me medical advice what the hell is going on, you have bronchitis, i don't think. really?
so saving money you have doctors trained on the other end but not a lot of experience either, though, that they would be coming into the field. >> fair enough. here's an interesting thing, i for once am going to quote medicare this is in rural areas where you can't get doctors or nurses that you need so there could be a use there. if you're way out in the middle of way out in the middle of the desert somewhere and there's no clinical doctors office to go to and can't get out of bed, somebody could help you online. also another thing medicare recognizes charles, if it doesn't involve an actual doctor patient visit they like it. and ekg x-ray you can go to a facility and have it beamed to your doctor somewhere. i like that. >> one of the big problems in medicine is the lawsuit. it feels this is so flimsy i get the telemedicine doc gives me the wrong prescription or has a wrong interpretation of what is
wrong with me and i get worse, die or something but it opens up a legal can of worms. >> what if patient shows you a mull over here that is one to the right that's dead and don't see it because it is a limited webcam it is very, very carefully monitored. there's an extension of what whan do. pmption nobody can replace dr. siegel. thank you. more varney guys after this. fro. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet?
>> for those getting into the apple phone or up for renewal, this might be enticing offer, they like to do these things around this time of year to get us hot and bothered for the holiday season, so we've got something on our mind for that. >> also remember, they're getting rid of the subsidies, so apple has to make this thing
sexy. the market's hanging in there nicely. last week about holding above 16,000, this could be breaking through 16,400. neil cavuto has an amazing lineup. take it away. neil: you see a rally at the corner of wall and broad to kick off the labor day fall phenomenon. september a problematic month and we are very much under water for the month, but buyers trying to make a goal. welcome, everybody, i'm neil cavuto, and this is "coast-to-coast." keeping you abreast not only of the surge in stocks but what is propelling it. we're getting news on the wires that warren buffett is a big believer in ibm and buying more shares. liz claman will be speaking with mr. buffett very shortly, she's going to be handicapping all of that later on in this broadcast. we're also getting word out of the likes of leon who says the bull market is not over. so all the commentary to the contrary is ju