tv Varney Company FOX Business February 21, 2017 9:00am-12:01pm EST
to the center talking about economics and the need to increase wages nonstop. >> we are more excited about what came through in the segment. >> we are thinking about brenda butner and her family today. you hear the sadness invoices at 1211 avenue of the america. dagen: thank you. "varney and company" now. stuart: thank you, republicans split on tax cuts. so what? investors are ignoring it and the dow is heading for another record. this must be the umpteenth of the year, tuesday morning, it is a repeat of what we have seen so often, extreme political division but stocks keep going up. look at that, the dow's close on friday, 20,00624. it will open today with a gain of 60 or 70 points and that will push the dow close to a 27700. pay close attention to america's
technology giants where the money has been flowing at all of the big names open today at new highs. euphoria in the world of money. politics a different story. presidents reagan and bush got there tax cut billed by mid february, the trump bill is late. republicans on tax form are divided. the media remains as contemptuous as ever especially the washington post. look at this. i didn't think i would ever lead the cia but because of trump i quit. the trump white house is already cooking the books. outspoken opposition to the president but the trump stock rally roles on. 55% approval for the president in the resolution poll. "varney and company" about to begin.
this is now the white house, new plan on immigration expected very soon. we have a couple details. ashley: what we hear from senior admin a station official, quote, we will have a big immigration launch, not a new executive order. not to do with the travel ban. a renewed version of that, basically getting more aggressive to target criminal illegal aliens including the hiring of 15,000 more people, 10,000 may go to border control folks. as the judges pointeded out they are doing what is already on the books and forcing the law. stuart: we will get the details leaking out in the next few days. >> trying to keep this safe,
immigration a big part of that. stuart: details, here is the story, stocks open another record high. 50, 60, 70 points, close to 20,700. before the market opens, macy's the one of our regulars likes the stock, real estate is a real estate play, good numbers today, $1.33, higher sales of walmart interesting held by online and better foot traffic in the stores, stock is up 3.5%, big gain, better profit, better sales at home depot held by strong holding market in america that company also buying back its own stock. that stock is up 2.3%.
stay on the markets and bring in money guys steve cortez, we are going to open another record high this morning for the dow close to 20,700 right off the bat which i want to prediction. where we going? >> when i was a kid i loved the show the jeffersons, the market, we are moving on up, this is a george and wheezy market, because there is a triple whammy coming, of tax reform. we are going to get it done. regulatory relief is already begun by executive order, plain faster growth, in terms of prediction, s&p 500 during this trump presidency we will easily get 3000. i am more excited about the small caps, the russell is at 1300 going over 2000, a 40%
gain, and immeasurably in the coming years. stuart: you are talking about the long-term outlook, 50% up on the small-cap index, s&p 500 at the end of president trump's first term, long-term production. >> in the short-term, it will be volatile, changing everything in washington dc, there will be periods of tamils within this rally, pullbacks are ones to buy. stuart: bring you back to "the opening bell," verizon and yahoo agreed to cut their merger price. there is trouble at yahoo and they cut the price. how much? ashley: 3 $50 million cut to the $4.8 billion offer, a little off
the top, not as much as some would think and they split the cost, and he point on with regard to those breaches, whatever cuts were incurred they split those costs 50/50. stuart: that was yahoo's problem, this data breach repealing it rather late and that is taking the price down but those stocks are -- ashley: the deal is still -- stuart: and in the immediate coming days, judge andrew napolitano is here, this is his story. we are told the restrictions on green card holders, visa holders and all nationals are lifted. is that enough for the deal to get through the ninth circuit court? ashley: judge napolitano: those have been listed by an opinion by the
white house legal counsel the ninth circuit court of appeals is has no force of law, and the president would have to change his executive order for people in those categories to feel comfortable. the new executive order will reflect that but there are two areas where the government has stumbled for a variety of reasons. seattle, brooklyn and alexandria, virginia, there are four judicial opinions written against the president and they are helpful because they can give guidelines to the justice department lawyers about judicial objection, they fit into two categories and one is how and why did you pick these seven countries, that is an easy one to address, nonclassified, where they picked these. the obama state department said these are the countries where
most of the evildoers come, the second is more nuanced, the second problem is is there a religious band, if you read it, it doesn't target a religious group, the courts have used candidate trump's words against president trump in the manner i have never seen before and they have taken the most incendiary things that he and fellow campaigners have said during the campaign and this is a religious band, promised when you were a candidate. stuart: i'm frustrated because it is going over my head. here's what i boil it down to. judge napolitano: anything i say goes over that head. stuart: if there is a new executive order that shakes up the way we think it is going to shape up and it is rejected by the ninth circuit court of appeals i think we have a constitutional crisis because it will now mean that the courts
dictate who the president is allowed to stop from coming into the country and that is unconstitutional. judge napolitano: fully agree with you. the area of foreign policy is uniquely the president's, not even congress but the president and he decide to the enemies our and our friends are and congress has given him tools with which to make those decisions and one of those tools is the ability to suspend immigration and courts to defer to the president. stuart: if they don't we have a long period where people from the seven countries, failed states can come into this country. judge napolitano: difficult for them to do so. the new executive order addresses or accommodates concerns in the ninth circuit, no court in the country is going to write an opinion more anti-trump than the ninth circuit, if you accommodate those concerns he wins. stuart: i wonder if he is liable if the courts delay everything and some bad guys come into the
country, and they murder americans, who is -- judge napolitano: judges have -- stuart: no liability whatsoever. i will leave it at that. gamblers, attention please, get ready, the powerball lottery is $403 million. of full payout immediately, the jackpot could be higher before tomorrow night's drying. a lottery ticket is a complete waste of money, worst possible gambling the lever. >> when you turn down 1 million if you won it? stuart: i wouldn't into the contest. stuart: give me $.50 and i will buy a ticket for a dollar and split what we when would you do it? stuart: this is important. you -- $.50 a ticket. i don't have any singles.
all those hundreds. i got some geewhiz tech for you, the new company the drone delivery business is how it works, a drone launches itself on the top of a special delivery van, and returns to the van, and the company ceo, in the next hour. let me have uber, eric holder to investigate a claim of sexism and sexual harassment at the company, one female employee filed a sexually harassment claim, bring on the a from the attorney general of the united states of america division in the republican party, senator lindsey graham says the house tax-cut plan wouldn't get 10 votes in the senate. despite that the markets are going to be up at "the opening bell," we will be back. when you have $7.95 online u.s. equity trades, you realize the smartest investing idea
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stuart: news of another train problem. ashley: the philadelphia area, stay away from the this, two trains, hit each other head on, the injuries and fatalities, keep an eye on this, they hit head on on the tracks. in eastern time. stuart: burger king's parents, the proper name is going to buy popeyes, and look at popeyes go. the gop clearly divided, lindsey graham, a lot of cold water on paul ryan's tax-cut plan think it wouldn't get 10 votes in the senate. karl rove, this is not the
republican party trump backers want to see in congress. explain your self. >> i am not lindsey graham. explain yourself. stuart: this is a badly divided republican party. >> this is not the first senator to oppose the tax plan. remember senator tom cotten of arkansas, home of walmart attack the voter adjustment tax, reading between the lines, that is what it sounds like with lindsey graham from the state that imports, the port of charleston, the largest port in america, this shows the difficulty the republican this with a comprehensive tax reform to pass a comprehensive tax reform with the border adjustment tax in it. >> we have states that are
export dependent. and there would be hell to pay from the republican. and organized fast. >> know ifs ands are buts about it. doesn't include the border adjustment tax. and equalize the trading advantage. we don't tax, and 120 counties did the opposite. and a sticking point, they don't have to be resolved. and this is not an easy question because this provides $1
trillion of revenue over the next decade which allows you to pay for if you will, not add to the deficit when you cut rates for individuals but cut rates for companies. stuart: there will be hell to pay if you don't get a tax-cut deal past. that is my opinion. >> let me say one thing. i paid more attention to what tim scott and his fellow south carolina senators on the senate finance committee, writing the senate version of the bill i would be more interested with what tim scott has to say about this issue with all due respect to senator graham. stuart: we have democrats in disarray, that is my expression. on saturday they vote for who is going to chair the dnc, leading candidates on the far left, keith ellison, on the rights and -- side of your screen but on the far left is former labor secretary perez. this is a move by the democrats to the left anyway you slice it. that is my reading. >> we have tweedledum and
tweedledee left and further left, the only difference between the two ideologically is perez is a friend of hillary clinton and keith ellison is a friend of bernie sanders but there ideological views are largely the same and the democratic party is marching far to the left and following your old british labour party and your former home country, off the cliff. stuart: glad you got my old, former -- glad you got that. >> i am so proud you are an american citizen i can't tell you. stuart: i don't care what they say. thank you. the left khalili planning to boycott all things trump, maybe that is backfiring. example, ivanka's perfume pulled from the shelves is a bestseller on amazon, more varney after this.
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products would be because of politics but you are going to get the other side of the story. >> four years ago, some shoes and a couple items that wasn't a big fan because they fell apart, didn't seem like good quality and were not very comfortable after a while and i was watching the been, to see what they do, over time i noticed her stuff was on deep discount and became more interesting as the family, i run the risk with anything to do with the brand of trump that it assumed to be political and puts retailers in a tough spot because half the country not so much, pretty passionate on either side. stuart: i know people who will never shop at nordstrom again because they just trump. >> more than one brand. ashley: retail boiling to for
someone to block a product on the other side of it if the product -- if the product is rubbish fair enough, get rid of it, the -- associated with a political point of view you can't sell stuff i have a problem with. >> that is in so many things, trump line, trump accommodations, what our people to do? it is assumed to be political. stuart: do you shop at nordstrom? >> yes. stuart: i want to show everyone what we have coming up, the amazon story of the day making a lot easier to get free shipping even if you are not a prime member. look at that stock go up. full details for you. the dow industrials will open very close to 20,700, above 20,700, 80 point rally right from the get go four minutes from now. watch history being made. dear predictable,
we will hit a new record high in 15 seconds is that is going to happen. i'm looking at the futures which suggest 10 seconds from now when the market opens the dow will be up 60 odd points taking us close to 20,700, you're going to see a new high now. it is 9:30 eastern time tuesday morning, we are off and running, we are up 39, new high for the dow, up 41, 45 points, any further bids? new high, new high, this is exciting stuff, ladies and gentlemen. how often do you sit back and watch the nation's wealth grow exponentially just since the election, we gained -- i can't do the math, 2000, a lot, we gained a lot, can we look at the big name technology companies we cover very closely and do this because that is where the money is flowing, amazon, alphabets,
netflix, all of them brand-new highs, netflix is within a couple bucks of its all-time high, the rest, records, the biggest names in technology anywhere in the world. another big deal announced today, fast food deal, popeye's chicken bought by the parent of burger king. i have details for you very shortly. the deal between craft highs that unilever called off, both of those stocks are way down. tuesday morning, record high, ashley webster, steve cortez, stocks making record highs despite political turmoil. that is what we have to get used to. politics dominates the news. disagreement and anger, no one --
>> up and up, the most expensive, 17 years -- stuart: i am reading between the lines, you think any moment now the market goes down. >> the market is getting a little bit over its ski tips all of this based on assumptions trump is going to do amazing things for the economy, great tax cut and cut red tape and that may all come to fruition and i hope it does but it is going to take time. stuart: you do expect a pullback in the fairly immediate future but after that. >> we will see how effectively he can be in getting these through. stuart: what i am about to say, if our viewers, some of them got some cash, a pullback coming, a buying opportunity. stuart: in a short-term yes. >> a lot of momentum. stuart: are trying to force you to say something you don't want
to say. stuart: you do believe over the long term this market does go higher, there will be a, that is a buying opportunity. >> the pullback will come from politics, we come from trade disputes with china, from capitol hill dragging its feet, wherever it comes from or the source, pullback are pullbacks, the overarching trend is upward and onward, we can grow again, we are sick of mediocrity, we had it not just for the last administration but the one before that too, better than 1%, 2% growth, 3%, 4%, 5%, tax reform, regulatory reform, will send the stock market appreciably higher. stuart: it is up 56 points, getting close to 20,700, left-hand side of the screen, we
are showing you the winners on the big exchanges, the dow, the nasdaq, we see some real winners, take a look at dow winners, dow stocks going up nicely today. i want to get back to the big-name technology companies, we have been covering them closely for a couple years now and they have run up like you wouldn't believe, the run-up continues except for facebook down $0.04, hardly a pullback, netflix down $0.04, hardly a pullback, there are new highs for apple and amazon to the biggest names in technology. are you putting money in those kind of stocks? >> not at these prices, i will wait for more of a pullback, they are very much out there. the nasdaq is up 30% year-over-year and when you see the nasdaq go up that much it tends to underperform in the following year. stuart: steve cortez, would you put money into the apples, the amazons of this world.
>> i would. we often refer to these as -- facebook, amazon, netflix, they have a bite again and are at an all-time high. i love the price action in these stocks and i love that america is so dominating technology, one of the reasons is technology has largely been free of government regulation so when government is not suffocating a business look what happens with american dynamism. this group continues to soar. stuart: it is exciting stuff, the dow of 62 points, 20,00686. we have got news on the verizon yahoo agreement to merge, they got a price cut, down $350 million because of data breaches. ashley: bring it to $4.48 million, people thought they may be in the bigger cup because of these data breaches, over 1 billion people, two of them over the course of 2013-14, they also agreed to split the
cost of anything that comes out of those breaches moving forward but the deal stays on, even questions whether verizon would pull out of business because of what happened. stuart: verizon get the price cut it is still in a deal, verizon will take yahoo. we have 55 points up for the dow, exciting stuff on tuesday morning, one record after another. over the weekend if you are watching the program over the weekend or today, there is one market watcher that says the dow industrials could hit 30,000 by the end of mister trump's first term if the president gets everything he proposes from tax cuts to deregulation and the economy takes off. 30,000 at the end of his first term. >> going to be difficult. right now, one of the most expensive we have seen in 15 to 17 years, to get the economy going you need to increase the number of people working and get
them to be more productive. if he reduces taxes, reduces regulation productivity can go up that right now the us population, the working age population is growing at less than 1/2% a year. we need to get the number of people working going up as well as making them more effective to overall grow the economy and anything he doesn't fight growing the working age population is going to be harmful to growing economy. was when i put you down as doubtful on dow 30,000. check the big board, another look at it, 60 points hired this tuesday morning, we are coming off of a 3-day weekend where there has been intense political hostility to mister trump in the media, you name it, university -- opposed to the sky, democrats, republicans are split on tax reform, nonetheless dow is up 59, 60 points. the big retailer, some of the
big names, they report their financial number this morning, walmart, macy's, home depot all doing well, all stocks up. how about focusing on walmart for a second, they got a boost for better online sales and more importantly more in-store traffic, foot traffic. is that an economic indicator? >> it absolutely is. it is not just one company, home depot as you mentioned, costco reported january sales the blue the doors off versus years before. we are seeing a consumer optimism that is palpable from companies, surveys, the national federation of independent business, optimism rains in the land, you would never know it if you listen to the mainstream media because there is so much gnashing of teeth. stuart: this rally was predicated on the hope of growth in the future. surely we are now seeing that growth arrive. if you have better sales at big
retailers that is growth now. >> hourly wage a is relatively flat. people are feeling better about the way they think the paych. stuart: walmart, macy's, home depot, that is growth. >> you need to get those people making enough money. they can't keep spending on credit cards was i want to see validation in all this optimism, i think wages go up. stuart: were you born in america? you have 10 seconds. >> hope is an investment platform. >> walmart 1 and i love about their reporters they have been going up and they still deliver these amazing results for investors. it doesn't have to be binary. stuart: that is a two multi-on the stock market at 71-17, let's get back to burger king buying popeyes. adam schapiro at the stock exchange, give me the deal please. >> look at what is happening.
they are hitting new all-time highs. restaurant brands, and 19%, it closes on friday $56 a share. $78 a share, 1.7 almost $1.8 billion deal which they announced, popeyes canceled its earnings call, that $1.8 billion would buy a lot of chicken. it is 10% of all sales, popeyes has roughly 2060 in the united states but perhaps restaurant brand internationally jones burger king is looking for expansion overseas, china and kfc has 3000 stores in china. love that chicken from popeyes. stuart: left-hand side of the screen. awaiting president trump expecting him to make remarks on the immigration overhaul, the
immigration overhaul, we are expecting him to make remarks, you will see it when it happens. we are now very close to 20,700, we came within one point of it. there we go. put it on the screen. just dropped below. 75 something. and back of 27. i will talk about amazon. there is always a story about amazon and here's another one. they will make it easier for nonprime members to get free shipping. in the future you are going to get free two day shipping on all items of $35 and more. ashley: they brought it down $14, 50 million items. stuart: the story of the day. >> if you don't have two day
shipping. and atm to be valid and online shopping. stuart: amazon is a juggernaut anyway you sources get out of the way because that is an all-time high today, well over $8.50 and the snap roadshow, snap investor roadshow already started, the company is going public meaning it is going to sell shares to you and i if we want to buy them as of march 2nd. here's the question, is snap going to be the next twitter or the next facebook? steve cortez, answer the question please. >> i have three teen daughters and they practically live on snapchat. they think it is oxygen. that is a positive. the negative is can they monetize it.
and the most powerful practically lives on twitter. and they can't monetize it. it worries me, as optimistic as i am overall on the market and growth i don't love the snapchat story. stuart: a lot of people are pulling back. ashley: they are talking that are hardware and software to create more features. they want to be facebook, they don't want to be twitter. can't make money. stuart: it is going off between $14, and $16 per share, if you want to buy a stock that is the price. would you buy it at $14 to $16 a share? >> something like that going after that particular demographic i'm not sure that is the best demographic making a lot of money, and demonstrate real revenue. stuart: as of right now the dow
and is signed by the president? there is some doubt about that, the dow is up 81 points at 20,706. steve cortez, you are not worried about a tax cut? >> we are going to get it is my answer. i'm happy x goldman sachs coo gary coleman drives the bus when it comes to tax reform. he is a democrat by background, very pragmatic, we are going to get this through the house and the senate, the president was elected largely on this mandate
and i do not believe those house and senate members want to go back to the constituents and say they impeded the people's will and stop the president from getting tax reform so we are going to get it one way or another. stuart: still above 20,703. amazon is lowering the price, $30,000 from amazon, you can have free two day shipping even though you may not be a prime member. look who is here. and the box to call the costco of online selling. >> that is right and every time i am on the show the dow hits new highs so i should be on more
often. and for all the viewers out there, as i left the studio, you said look where readings will be in the next few years. stuart: i deliver regular commercials. stuart: they were competitive viewers. $35 of stuff, two day shipping, prime member or no, waiting for amazon to buy you. you are the coo of fox. >> attack of clarification. and the two day prime shipping. you get free shipping, interesting, how the battle between walmart and amazon hits up.
it has been all about in-store sales, and in two or three weeks amazon made a counter move, and other retails reduced stuff. we got to do something about it and so quickly after another huge retailer did. stuart: you have a niche within the online selling industry and that is bulk sales of items that don't go off. you are big on diapers. plastic bags and all that kind of stuff. >> we see ourselves when you park your car and decide if you're going into walmart or sam's club, amazon is basically
that walmart. for us we are the online sales club so for us it is a different shopper, a lot of folks in the green room. probably not buying dollars items from all but -- walmart and amazon but from a larger warehouse club. stuart: you have your own warehouses around the country. >> since we first started we are barely out of our garage, four separate facilities. stuart: you gross revenue. >> you have my salary and net worth, i keep hunting. one of these days. stuart: last time you were on. this is the ceo of box which box. as in past. >> always here to help. stuart: your sales were well over $1 billion. >> well over $100 million. >> we are still getting there. it is growing very quickly.
stuart: let's get great at it. take an offer from amazon. >> 10 million. it was 1 million, 10 million, 100 million. i am speaking with it. you might think i am crazy and you might be right but the warehouse club industry in the us is $200 billion, 2% of it is online at virtually 0% is mobile. so you have bj's, costco, doing $0, 0% of the $200 million in mobile. stuart: you must have partners. >> we have a ton of investors, and very large down including american express so after american express is no longer accepted in costco, they normally welcome american express.
stuart: to you personally own 50%? >> i don't own 50%. if i did i would be wearing a hawaiian shirt. stuart: how did you let it go? >> a lot of cofounders especially we like to treat our folks really well. full-time warehouse staff has stock in our company, that is diluted. stuart: sorry i missed that. all your employees have a piece of the action. >> that is right even if you're making $10 an hour or $13 an hour is the lowest and you still get a few stock options. stuart: if they leave the company they keep the stock option? >> if you meet your one year flip you can keep the one year but if you are here for more than a year. stuart: you are the ceo. >> unless you have another -- based on this, yes. stuart: what you say happens.
if you want the price of this to be this it is that price. >> generally that is right but it is funny because the last few years things have changed, so many people in the company, i have got stopped at one of our facilities because i didn't have my id and the person in front didn't recognize me so they asked can i help you and i am like thank you for doing your job but i promise you, i work here. stuart: do you have any approaches from the amazons of this world looking at you and saying we can make you $1 billion? >> that i would be candid about, since we first started a few weeks after we launched, retailers knew that this is where the world is going, consumer package goods would be traded online more so than stores over the next 30 or 40 years so we have been approached since the early days of the company but every one of the offers was fourth and 28.
stuart: you don't intend to sell, you do intend to grow it yourself. this is your company, your idea, your idea. >> to your point just watching your show it is about optimism so you look at a blue market and see how snapped does in ipo and there's no reason for pessimism in my seat so i don't see why we would to the ripcord. stuart: would you go public? >> absolutely i would say. that is a personal dream of mine. it has been -- stuart: that is how you cash out. i knew it is you won't go public unless you cash out $500 million is my prediction. >> the interesting thing is i never sold a single share of my stock yet. still bullish. we will see in coming years. stuart: you are at great guest,
a success story on this show and you are a success story, appreciate it. we are expecting the president any minute left-hand side of your screen and he will walk to the podium we believe, we receive the two minute warning five minutes ago. he has not yet appeared. when he does appear our president will outline the immigration overhaul, some parts of it. we carry it when he delivers these remarks. the stock market on the bottom right-hand corner of the screen, look at this go, this is the two -- the tuesday after a three day holiday weekend, you could have said maybe investors will think twice about putting more money into the stock market but they are not, they are pouring it in, we are of 91 points and the dow has reached 20,714. that means the dow is up -- my math sheet. a lot.
18,00332 on election night. 18,00332. do the math. 20,000 -- >> it is up big, folks. 2400 point rally. look at the percentage gains here, the down nearly 13% since november 8th. is that right? since the election. the s&p a broader indicator of the overall market, 500 stocks in that index and it is up 10%. look at that nasdaq. >> the russian etf is 15.3% so their main index is higher than all three of hours and since trump's inauguration the mexican etf is more than the s&p and the nasdaq. stuart: steve cortez, you are still with us will you counter the point made by lenore hawkins
that the russian etf in the mexican etf is more than fat. be change not necessarily the s&p. and the us small caps, and small caps have done the best, what we are going to see under president trump's main street growth. what we saw over the last two at ministrations was financial engineering which was great for wall street, great for the top 1%, people who had already made it were the owners of assets, not great for the strivers, people making a living and don't necessarily own a lot of assets, we are going to see in president trump a shift. don't take my word for that, the stock market is telling us that and small caps, i love basically all stocks here, small caps the most. stuart: i see movement on the screen, the president look like
he is going to be approaching the microphone very shortly. that is doctor ben carson and his wife i believe. there is the president. alvina king is there and ivanka and tim scott from the carolinas. >> a great honor to be here. what a job they have done like few others have been able to do. and and the work and love -- they need enthusiasm, love for anything you do to do it successfully and you are where? come on? where is lonnie. you should be a coming up here and david, we have to get david appear too. david is tremendous and he was singing her praises all morning long so you two should at least
be here we appreciate it very much and david rubenstein is here someplace, come on, you got to get up here, you certainly deserve it, a very successful guy who spends money doing great things and been a great help to so many groups. this one in particular. a privilege to be here. this museum is a beautiful tribute to so many american heroes, heroes like sojourner truth, harriet tubman, frederick douglass, booker t. washington, rosa parks, the greensboro students, and the african-american medal of honor recipients among so many incredible heroes. it is amazing to see. i went to a comprehensive tour, not comprehensive enough. i will be back, i told you that.
i could stay here for a lot longer, believe me. it is really incredible. i am deeply proud that we now have a museum that honors the millions of african-american men and women who built our national heritage especially when it comes to faith, culture and the unbreakable american spirit. my wife with your last weekend took a tour and it was something she is still talking about. ivanka is here right now and it is very special, something that frankly if you want to know the truth is doing so well that everybody is talking about it. i know president obama was here for the museum's opening last fall and i am honored to be the second sitting president to visit this great museum. etched in the hall we passed is a quote from a runaway slave who
joined the union army. he believes his fellow african-americans always looked to the united states as the promised land of universal freedom. today and every day of my presidency i pledge to do everything i can to continue that promise of freedom for african-americans and for every american, so important, nothing more important. this is a meaningful reminder of why we have to fight bigotry, intolerance and hatred in all of its very ugly forms. the anti-semitic threats targeting our jewish community. and community centers. are horrible. and painful and a sad reminder for the work that is going to be done to root out hate and prejudice and evil. i want to thank a great friend
of mine, ben carson and his beautiful family. for joining us today. very special to accompany him and his family for the first time seeing the carson exhibit. i love this guy. and he can tell you better than me. tell you what, we really started something with ben. we're very, very proud of him. hopefully next week he will get his approval. three or four weeks late, and you're doing better than most, right? but, the democrats, they will começ along, i have no doubt ty will come along. ben is going to do a fantastic job at hud. i absolutely no doubt you will be one of the great ever in that position. he grew up in detroit and had very little. he defied every statistic. he graduated from yale and went on to the university of michigan medical school. he became a brilliant, totally
brilliant neurosurgeon. saved many lives and helped many, many people. we will do great things in our african american communities together. ben will work with me very closely. hud has a meaning far beyond housing. if properly done it's a meaning that is as big as anything there is. and ben will be able to find that true meaning and the true meaning of hud as its secretary. so i just look forward to that. i look forward to watching that. he will do things nobody ever thought of. i also want to thank senator tim scott for joining us today. a friend of mine. a great, great senator from south carolina. i like the state of south carolina. i like all those states where i won by double, double, double, digits, you know those states but south carolina was one and tim has been fantastic, how he represent the people. and they love him. i also want to profoundly thank al -- alveda martin luther king
for being here as we -- alveda king and her uncle, this exhibit, i miss king, i watch her all the type, she is a tremendous fighter for just disand so alveda, thank you very much. i have been watching you for so long and you are so long, you are so incredible and i want to thank you for all the nice thing you say about me. not everybody says nice things. >> i love your family. you're great. >> thank youor that. >>hank you. >> thank you, darling, appreciate that. so with that we're just going to end this incredible beginning of a morning. but engraved in the wall very nearby, a quote by the reverend martin luther king, jr.
in 1955, he told the world, we are determined to work and fight until justice runs down like water and righteousness like a mighty stream. and that is what it is going to be. we're going to bring this country together. maybe bring some of the world together. but we're going to bring this country together. we have a divided country. it has been divided for many, many years. but we're going to bring it together. i hope every day of my presidency we will be honoring the determination and work towards a very worthy bowl and for lonni and david and david and ben and alveda, and everybody, i just want to, i just have to say what they have done here is something that can probably not be duplicated. it was done with love and lots
of money, right, lonni. lots of money. we can't avoid that. it was done with lots of love and passion and i very much appreciate you being here. congratulations. this is a truly great museum. thank you. stuart: president trump speaking at african-american history culture museum. he made brief remarks addressing the heroes of african-american history. he took a little time to address the anti-semitic threats we've seen recently. he described them painful and horrible, remindful the work needs to be done to root out hate. that is what the president said the last ten minutes. the dow stayed up very high and we're above 20,700. never before has an incoming president faced such opposition. there is indeed a concerted
effort to undermine, block and yes, resist the trump presidency. just look at the lineup against him. the media,ç can barely restrain its contempt. the environmentalists, to them climate is religion. they're waging a holy war against president trump. the federal bureaucracy, allegedly obama hold overs are leaking anything. government worker unions, the teachers union, the universities, hollywood, broadway, musicians, coastal elites, global elites, technology companies and let's senator john mccain and ever left ward-moving democrats. we're only just beginning the second month of the trump presidency. there was no honeymoon. where is all this opposition actually going? the democrats have yet to put forward an economic growth plan
of their own. they simply want to stop trump's. same with replacing disasterous obamacare. what do they want? to keep it going even as it goes into its death spiral. there are signs of a pushback too. in a moment you hear about a new free speech movement on college campuses. maybe the president owes opponents have gone too far. the hate speech from the left is over the top. the tone of contempt is not going down well with middle america. second hour of "varney & company" is about to begin. ♪ stuart: do you ever get the feeling stocks just want to go up? look at this. the dow jones industrial average up 80 points. 20,707. some big retailers are doing very well. coming with good financial numbers this morning notably
macy's up 1%. how about walmart? helped by better online sales and more foot traffic in its stores. that stock is up 2%. better sales at home depot. that stock is fractionally higher, 89 cents up at 143. there is opposition to president trump at every turn even from republicans. "town hall" editor katie pavlich is with us now. >> good morning, stuart. stuart: good morning, katie. i gave a long list of the president's opponents i included in it some republicans. this is a very difficult situation for the republican party and president trump because they are totally divided. what say you. >> i'm not sure they're totally divided. i think president trump, some of the criticism of some of the things he has done in the last few weeks does warrant some criticism and scrutiny, however president trump faced odds of opposition before. we saw it obviously through the presidential election where he came out victorious. he is new to the scene. he has never been in public
office before. people are willing to give him mostly the benefit of the doubt when it comes to ironing out some of these problems he has had. we're awaiting this week a new immigration order can tailor out the problems with the initial executive order to keep people from the seven terror-ridden countries out of the country. opposition is not a bad thing, but when it comes to the extreme opposition from the left against president trump. stuart: how about the democrats? they vote this saturday, new chair, party apparatus, chair of the dnc. two candidates seem to be the front-runners. congressman keith ellison and former labor secretary perez. that is the left and the far left. i'm surprised at how far left they're actually going. >> it is as left as you can possibly get, stuart. you mentioned the non-cohesion of the republican party but on the democrat side it is much
worse. actually last week i knew it was bad because i got an email into my inbox about a hit piece on tom perez from people trying to go for keith ellison. when you look who these people are, keith ellison is far, far left, he met with a bank leader in israel who fund suicide bombings against israelis. you have tom perez who of course works with the head of the civil right division under eric holder who essentially believes that illegal immigrant have more rights in terms of working rights than americans do. and so, he is very racially-motivated person. we've seen democratic party go from very far left. i don't think that the country is going to follow them there when it comes to elections. we'll see how that works out. stuart: katie, we have breaking news on the president's upcoming executive orders i believe on immigration and travel. ashley: according toç "the washington post" president trump preparing an executive order to lift coal mining ban on federal lands. but there could be other orders
coming. one that is of interest to you, stuart. would seek changes to waters of the u.s. u.s. rule and the curb on greenhouse gas emissions on utilities. that water rule i know -- stuart: this is not the immigration overhaul update? this is the environmental -- ashley: environmental issues. stuart: you mentioned the water deal. ashley: of the u.s. stuart: waters of the u.s. that was a proposal from the environmental protection agency. now i do own some property in upstate new york. i grow deciduous trees. if that new rule, if it had gone in, waters of the u.s., if it had gone in, if i wanted to move a rock within 20 feet of any moving water, any body of water, i would have to ask permission from the federal gornment. you know what that means? that means you have to have a study done, the environmental impact of that rock within 20 feet of that stream. ashley: let's see what mr. trump does with the executive order. stuart: i'm fit to be tied. i hope that -- katie pavlich,
are you still there? >> i'm still here. stuart: i'm fit to be tied. okay? >> okay. okay. sounds good. stuart: katie, thanks for being with us. much obliged to you. >> thanks, stuart. stuart: president trump mentioned yesterday a frequent guest on this program. watch this. >> i met with many other people. tremendous respect for the people i met with. i know john bolton, we're going to be asking to work with us in a somewhat different capacity. john is a terrific guy. we had some really good meetings with him. knows a lot. has a good, a good, a good number of ideas that i must tell you agree very much with. we'll be talking to john bolton in a different capacity. stuart: look who is here, john bolton himself. former ambassador of the united states to the united nations. i have to ask, i do not expect you to answer, i am going to ask, which job would you like?
>> you're very persistent stuart, i have to give you credit for it but the deponent is -- i had a great meeting with the president and i wish h.r. mcmaster all the best as national security vicar is. i think he will do a great job. i'll be happy to help out if he needs me. stuart: we'll be sorry to lose you. you're a frequent guest. >> i'm not going anywhere, stuart. stuart: okay. we'll get into that. i'm not going to press. now we' got this fresh action on immigration expected coming from the white house, it is indeed calling for thousands of officers and fast tracking deportations. we got all of that but i want to raise something which is often raised in private conversations which i don't hear much about in public, and that is, why don't saudi arabia, why doesn't egypt, why doesn't other predominantly muslim countries take these muslim refugees coming out of syria?
because i don't believe they take any at all. >> well i think this is a problem, really around the world. it is not just a problem in the near east. when we had the experience 20 plus years ago, with massive waves of vietnamese boat people, we tried to follow the principles of refugee resettlement and have some of them in japan for example. japanese authorities said to us with completely straight face, really? these vietnamese refugees ought to go to the united states. they would be more culturally at home there. it is not simply an issue with the arab countries. i think the fundamental point should be, to eliminate isis, to try to put some stability in the region. the real principle for refugees to get them back to their country of origin. put them back their homes as soon as you can. that is the much preferable answer rather than spreading them all over the world. stuart: the idea of beating
isis, destroying isis, what president trump says he want to do, seems like isis at the moment is losing, losing the battle to other muslim forces, not american troops. and that is going to be the way of the future. i think they may win on thisç one. what say you? >> well there are american troops right on the front line in west mosul today and in fact, one of the untold stories here that the mainstream media haven't picked up on, there have been americans in harm's way right throughout this. the pentagon has been tasked by president trump to review their approach. i think it is important to come up with a new approach to destroy isis as soon as possible while minimizing the upside for iran and its allies, the assad regime in syria, and hezbollah. i think that is critical for long-term stability in the region because the sunni-arab populations will not happily go back under control bit baghdad government which is dominated by the ayatollahs of tehran or
certainly in syria back under the assad regime. stuart: mr. ambassador, thanks very much for joining us. we hope you will continue to join us in the future regardless of your status with any administration. >> i promise to break any significant news with you, stuart, how about that? stuart: i will take it. john bolton, you're all right. >> thank you, stuart. stuart: how about this? the tsa is investigating a security breach at new york's jfk airport. cheryl, spit it all out. what happened? >> we don't know exactly what happened. federal and local authorities see in disagreement how 11 people got through a security check point at the jet blue terminal, terminal 5 at jfk 6:00 a.m. yesterday morning. they went through, three of the 11 people set off metal detectors. took it. sa officials two hours to alert police that the breach happened. by the time they tracked down the passengers they already got on the airplanes. eight are unidentified yesterday.
three they did identify got secondary screening when they landed in califoia. full pat-down, very f process. i went through it recently. the thing about the tsa, you know what they said in the statement? well the k-9 teams were there. what? stuart: yes. >> so you have an unmanned check point at jfk which is obviously, let's be honest one of the biggest international airports in the world and one of the busiest. 11 people went through. three set off metal detectors, and nobody notices? stuart: will heads roll? the answer is no. tsa workers are government workers and i don't believe you can fire them. >> they have a very powerful union to add to that point, stuart. we're looking for details. what happened? why? stuart: you got it right. cheryl, thank you very much indeed. look at this, the dow is up 107 points, 20,731. i get the impression this market wanted to bo up right from the
opening bell and it did. all right, big names, some of them are hitting all-time highs. never been at this level before. look at apple, amazon, home depot, goldman sachs. huge companies. running straight up in terms of their stock price. you never seen anything like it before. the denial of free speech on college campuses by liberal activisms has produced an interesting and unexpected reaction. we'll have that for you in just a moment. sorry, made a mistake. >> keep going. keep with stu. what else were you going to say. ashley: very dramatic pause here. stuart: we have a guest, cliff maloney is with us. i'm sorry, cliff, i was momentarily distracted there. you run young americans for liberty. that is correct? >> yes, stu, than for having me day, you're in a rapid growth chart because you want to restore free speechç to americn campuses. i believe you have what, 804
chapters, is that correct? >> i'm happy to announce here, stu, we have 900 chapters as of today across the united states, mobilizing for the principles of liberty. stuart: how many members? over 300,000 i think? >> right, over 300,000 folks that we've introduced to these ideas and exposed them to the principles of constitutional government. stuart: basically you support free speech by being on campus and organizing discussions, you are supporting free speech. the activists haven't shut you down yet, is that correct? >> not quite. what i have to tell you is this. we launched something called the national fight for free speech campaign. to combat these free speech zones we're finding on campuses throughout the united states. this is the way that big government bureaucrats are able to really shut down libertarian and conservative students. so we're not áathathathath
membership, what kind of person, what kind of student is joining your organization? >> absolutely, stuart. let me paint a little picture for you. millenials today, i'm 25 years old, right? millenials today, we've grown up in a generation where we've been at war since the day i was born. we've been sacked with $20 trillion worth of debt. the fourth amendment is continuously violated and trampled on. we're presenting a different message. we're recruiting people the idea that government is not the solution. all we do is present the case of this. everything you do on your cell phone, we don't want the government looking at it. we want the government out of our bedroom. we want the government out of our pocketbook. let's try to balance the budget. those are type of things we're presenting students. as well as sober policy of nonintervention. people are listening. that is why we see rapid growth at young americans for liberty. stuart: i want you on college campuses, free, able and willing
to speak your mind on the issues of the day, and if we get that i think we're on the way to a minor victory in the cause of free speech. cliff maloney, thanks for joining us. much obliged sir. >> thank you, stuart. stuart: i have a sad story for you and it is coming out of australia. a plane crash in melbourne claimed the lives of four americans. can you bring us up-to-date. >> we don't have the names of the americans. we believe they were tourists. the state department is reaching out to four americans that died on the plane of the pilot is australian. it seems to be a sightseeing flight. they had taken out of melbourne airport. after takeoff, catastrophic engine failure. the plane crashed into a shopping mall about to open, first thing in the morning, 9:00 a.m. local time, 5:00 p.m. last night. also the plane was going way, way too fast is what one of the witnesses said. but they died instantly and it
has been quite a big story in australia in particular because of the shock of the crash. stuart: urban area, right outside of the airport, shopping mall. thank heavens it wasn't open at the time. >> melbourne one of the largest cities in australia. stuart: got it. get back to the market. a new high. we've not been at this level before. we're up 110 points. 20,735. we have to take a break. now we're up 112 point, for heaven's sake. no, 114 point. ashley: better get to the break.
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unilever. it was supposed to be a $143 billion get together. they called it off. both stocks down on that news. next case, now this, jewish centers targeted. 11 separate bomb scares yesterday. president trump commenting on anti-semitism today. roll tape. >> i will tell you that anti-semitism is horrible and it is going to stop is and it has to stop. >> so you're denouncing once and for all? >> of course. wherever i get a chance i do it. stuart: threats, cemetery desecrations and online attacks. this is the hillary clinton tweet about this. jcc threats, cemetery desecration, online attacks are so troubling, they need to be stopped. everyone must speak out, starting with the president of the united states. well he did speak out. ashley: he did. stuart: also ivanka trump calling for religious tolerance. here is her tweet tweet.
america is build on religious tolerance and we must protect our religious incidenters is. ashley: she is getting heat on that. >> people are hitting her on it. your father and steve bannon are anti-semitic. ashley: she wan breathe there will be haters out there. they had 11 bomb scares yesterday. this is the fourth wave of these bomb scares since the beginning of the year. it is a continuing thing. she speaks out. tweets about it. and gets pushback from it. stuart: extraordinary. >> what she wrote was beautiful and well-spoken. that is just my opinion. stuart: duly noted and nothing wrong with that. dow jones industrial average is still up well over 100 points. we're at 20,731 as we speak. how about this for you? a new drone delivery service about to be unveiled right here
those who entered the country illegally as children. stuart: that's a big deal. ashley: he mentioned that quite strongly saying i have tremendous compassion for children caught up in this. from what we understand they remain protected. stuart: there was a great deal of concern that children brought here unknowingly by their parents illegally, growing up in america they would be deported. president trump says not happening, they can stay. that is a very, very important piece of news here. that is a big deal. we should stress that throughout the show. thank you, ashley. ashley: you're welcome. stuart: how about this fear-mongering? i'm not joking. msnbc reporter katie tur is suggesting that the president's dispute with the press could result in killing of journalists that is the implication. watch this. >> as we know since 2000 a couple dozen suspicious deaths of journalists in russia who came out against the government there. donald trump has made no secret
about going after journalists and his distaste for any news that doesn't agree with him here. do you find this is a dangerous path he is heading down? are u kidding me? on a news network they're implying that this could happen? >> under the ivory tower of nbc i can't believe she asked that question. stuart: i'm so shocked i have to digress to my colleague from the bausch "washington times," chart hurt. are you kidding me, charles? that is on msnbc? your comment please? >> we've seen it from the beginning donald trump derangement syndrome i call it. this is sort is of the perfect picture of it. piece people have lost their minds. they have absolutely gone around the bend. hope for them. all of this stuff, i don't know any good news reporters got into the news business because they thought it would be easy. most people get into the news business they like it, you get
to confront people, get into disagreements and soon as president start calling them out and start crying and come up with absurd, insane, not to mention, vladmir putin is a dangerous guy. i mean done like really seriously, nasty things to people and to compare what donald trump does, barking at these people with that, it is just insane. stuart: is there any suggestion that the, that they people know that they have gone too far? that the centrist democrats, if there is any left, are realizing that being led by the extreme left is not a winning proposition? is there any sign that they may realize that? >> no, stuart, and i think this is the problem that the democratic party finds itself in right now. you're talking mainstream democrats, talking about nancy pelosi, these people, they're all suffering from donald trump derangement syndrome. they don't know which way is up. they make wild accusation, crazy accusations constantly, and all
of it reveals not only have they lost their mind, but they're also not doing serious hard work of examining what is wrong with the party what they're doing wrong, so they can again become a viable political party. at this rate, they're not going to be a viable political party for another eight years. they're done. and certainly i think, long believed they're done until they get rid of people like nancy pelosi. obviously got rid of harry reid which is a good thing. they have is got to get rid of all this dead wood. stuart: wait until the far left wins the election to chair the dnc, the election vote is on saturday. just wait for that result. charles, you're having far too much fun on this program. you better save yourself for "special report" tonight. okay? >> sounds good, stuart. stuart. thank you, charles. >> thank you, stuart. stuart: something really cool for you. amazon long talked about making differries by drones. our next guest is getting into
the same business. he is arguing delivery from the roof of trucks. ups is testing in florida. it is happening. the company's name is workhorse. the ceo is that man on your screen. his name is steve burns. >> thanks, stuart. stuart: let me get this straight, ups is using your system. >> testing. stuart: they're doing it, it started. >> we think it was kitty hawk. stuart: take me through it. as i understand it you have large drones that launch themselves off of a back of an electric truck and deliver. >> off the top. stuart: take me through it. take me through this. >> so the whole thing has to work within the faa regulations, right? so the faa is kind of allowing commercial drone use in the u.s. but their first foray into it to say let's have somebody eyeball it. somebody keep an eye oit. if you think about a national delivery he fleet like-ups, they have somebody in line of sight
with every company during the day. what are the economics? how can we make it pay? it is all about, green, zero pollution but that doesn't work if it doesn't pay for itself. stuart: that is a fairly large drone i see. >> yeah. stuart: i take it you're only delivering in rural areas, that would be the initial plan? >> yeah. rural, faa likes rural. not many people to fly under or over. for-ups that is most expensive delivery, furthest to go. stuart: not in every city obviously. >> we'll go rural and suburban. stuart: back up a little bit. >> okay. stuart: if that drone, for whatever reason injures somebody. >> yeah. stuart: me, for example, who do i sue? >> well, either the drone maker or -- me. stuart: it is you. >> you can sue me. stuart: do you have liability? >> we make sure it doesn't come out of the air. you have the ups driver within eye shot. the ups driver can recall it one
stroke on the screen. it is probably safer than any other means. we don't have enough deliveries under our belt to know that but we think it is going, we know it is greener, right, no pollution. we know it is more economical. using three cents of electricity per mile. no driver time. completely autonomous. stuart: it is coming. >> it could save -- stuart: i have some rural property and the idea of a fedex truck or ups truck coming all the way out there to deliver something to me, that is not going to happen. but a drone. >> right, exactly. stuart: do you have your own software, proprietary software to run the system it is yours? , you created it? >> yes. stuart: that means if you have got competition they have to either buy your software or invent their own? >> well, true, true. so we're, we're just happen a company like ups -- stuart: you want somebody to buy you, don't you? you're on this program because
you want our viewers to submit a bid for your -- >> we're on this program because we want the world to know that drone delivery is coming. just naturally. we make electric trucks. we make a truck economical as possible to deliver packages. if we can help the driver to be a little more efficient by being their long arm -- stuart: which business are you in? are you in the electric truck business or the drone business? >> we're in the technology business of helping people deliver things for less money. that is our main thing. stuart: wod this drone work off gasoline or diesel-powered truck? >> it is designed to recharge after the big battery. so it can keep hopping all day can. we could put a big alternator on diesel truck. stuart: you want to be super green. you don't want to pollute. >> truck is green. the grown is completely green. you think about something work every day, a workhorse or the rigors of a delivery company. you know, no driver time in the drone.
completely autonomous. no maintenance. they're maintenance free. no pollution and three cents a mile. stuart: ups is testing it now. when will we see a paid for drone delivery using workhorse. >> we're a technology company. i can't control it. all i can tell you, the technology is there. we had a great test with ups out in the country in tampa. the faa is on board. stuart: in a year can you deliver to my farm in the country? >> i think fair to say this year. stuart: you saved the best to last. this year? >> this year. stuart: workhorse ceo steve burns on the program. you've been on before. i'm sure you will be back. good luck to you. >> thank you. stuart: next case, we set the record straight on the claim that crime is on the rise because of muslim refugees in europe, specifically is sweden. after the break the filmmaker who says yes, it is happening. you know him. also headline in the usa today. why nobody likes california
governor jerry brown outside of those liberal coastal cities. whoa, there is a headline for you. we like that one. we'll be back. ♪ i realize that ah, that $100k is not exactly a fortune. well, a 103 yeah, 103. well, let me ask you guys. how long did it take you two to save that? a long time. then it's a fortune. well, i'm sure you talk to people all the time who think $100k is just pocket change. right now we're just talking to you. i told you we had a fortune. yes, you did. getting closer to your investment goals starts with a conversation. schedule a complimentary goal planning session today.
♪ ashley: president trump denouncing hate and anti-semitism while touring the african-american history museum this morning. listen to this. >> this tour was a meaningful reminder of why we have to fight bigotry, intolerance and hatred in all of its very ugly forms. the anti-semitic threats targeting our jewish community and community centers are horrible. and are painful and a very sad reminder of the work that still must be done to root out hate and prejudice and evil. just like the people who own them,
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stuart: new high for the dow industrials. we'll tell you about that in a moment but here is this first. filmmaker ami horowitz spoke to tucker carlson friday nigh about his investigation of refugees in sweden. watch this. >> well, sweden's own words, they consider themselves to be a humanitarian superpower. they feel it is their moral duty
to open their borders to all and any refugee that want to come to them. it is difficult to get jobs. there are too many of then but they have tremendous benefits there which is why so many migrant are going to sweden to begin with. there is absolute surge in gun violence and rape in sweden once they began this open door policy. >> yes. >> they know the crime is happening. they can feel it, the statistics are clear. they would refer root cause behind it, just happening more violence. it is men who are raping people, not the refugees. they make excuses for it. they have these, what they really become are no-go zones. these are areas that cops won't even enter because it is too dangerous for them. this is the policy of the national police authority in sweden. that the government has gone out of its way to try to cover up some of these problems. stuart: all right. then on saturday night, president trump referenced that report. roll that tape. >> you look at what's happening last night in sweden, sweden,
who would believe this, sweden, they took in large numbers. they're having problems like they never thought possible. stuart: all right. let's bring you up to speed now. there is a media backlash. first of all from "usa today," trump cites in brackets, fake attack in sweden. vox writes trump's invention of swedish terrorist attack was funny but likely comes from a dark place. sweden's former prime minister. sweden, question mark. terrorist attack? what has he been smoking? questions abound. look who is here. ami horowitz himself. the level of crimes, rape, murder, sexual assault in sweden, following influx of large numbers of muslim migrants. swedes and media say, it is not a problem. you say it is. set it straight. >> i don't know what they have been smoking. that is really the question. the numbers from brah, swedish
repository of all crime statistics, show after 2006, 2006, to 2015, rape is up 50%. that is unequivocal. it is unimpeachable. murder, between 2012 and 2016 is up 80%. these are their raw numbers. one quick thing, they will argue, the definition changed, so therefore it allows for more rapes to be counted. definition changed in 2005. the numbers we're talking about are 2006 forward. stuart: rape and murder, has it been concentrated in areas where the immigrants settle? i mean that is a provocative question, but i'll ask it. >> the problem is, they, sweden has scrubbed from their statistic what is the demographics are. in 2001 was last year they had the demographics of what the background of the perpetrators. the number was roughly 70% were immigrants. they were embarrassed by that. in 2001 they scrubbed that out.
no way to find out other than correlation and anecdotally which we've done in the video talked about a number about times, we set the case and proved the case, it is clear this is really the impetus for this is the widespread immigration, the open door policy that sweden has. stuart: okay. producer, tell me again, have we just gotten video in of a riot in a immigrant area in sweden? ashl: this he erupted last night in sweden in heavily i immigrant area. cars burned, stores, looted. police officer was forced to use his gun which is rarity in sweden. the same area where they have had problems before. a film crew, to ami's points, film crew from australia's "60 minutes," were attacked, not last night but same area last year. some call it as a no-go zone. they like to talk about it as area of particular vulnerability.
stuart: that is extraordinary. the authorities are glossing over the immigrant impact. >> last night? stuart: that is the, that is shots taken from a party of sweden, immigrant area in sweden last night. ashley: stockholm. stuart: we have the stuff just coming in, literally. boy, you're -- are you not surprised. >> unfortunately i'm not. i wish i was surprised. i don't want to be right. i don't want to be right. stuart: but you are. the authorities across europe are covering up here. they don't want to admit that they made a fundamental mistake by admitting so many people from a very different culture so quickly. >> that is why they're reacting so negatively to my report and interviews. they're jumping at, almost making up stats out of thin air, they don't want to go against their narrative. stuart: president trump did misspeak there was not an incident the night before he had referred to. >> correct. stuart: he said he was referring to the immigration impact on all of europe and sweden in particular. in that sense he was right. you backed him up on that.
>> listen, we all know, two years he speaks in hyperbolic shorthand, for better or worse, i think for worse, but this is the way our president speaks. stuart: ami. horowitz you can come ck anytime you like. >> see you tomorrow. stuart: be careful, lad. thank you very much. appreciate it. big board close to the high of the day. we're up 123 points. earlier this morning, just a couple minutes ago we were at 20,757. as high as it has ever been, the trump rally continues. yes, we are still talking about it. melania trump rye citing the lord's prayer at a rally in florida. the left is outraged. you the varney viewer are embracing what she did. ♪
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janet says, i feel sorry formelania trump. who attacks someone reading the lord's prayer. that would not have happened to michelle obama. evil disgusting people. ashley. ashley: i feel sorry for melania. she can't breathe without someone criticizing. i am not a religious person but she has the right. for all the things to criticize someone for, that is ironic what they pick on. this country was founded by people who left religious percution in britain. this is the founding fathers this is what this country is all about. get over yourself. stuart: get over it. we also by the way have this. wait for it. you're a bleeping idiot varney and have no idea what you're talking about. go back to your own country, the bleep, bleep. you bleeping bleep. you traitor. learn something about economics you stupid, use less [bleep].
. stuart: i don't think it's sunk in. i don't think we've come to grips of what's going on in the world of money. wall street is actually predicting an economic revolution. that's what's going on. the trump rally is all about trump's policies, which promise to reshape taxation regulation and trade and set off the kind of economic growth we've not seen in a generation. that is what you are looking at left-hand side of the screen. the trump rally. no president in 50 years has come into office and jump-started the stock market like donald trump. since he won the election, the dow has gone up what? 2,300, maybe now almost 2,400 points. and it's added $2.7 trillion to the nation's wealth. that is the trump rally.
and yet, this is not received much media attention. they seem to think it's only the super rich who benefit. that is nonsense. anyone with a pension plan, a 401(k) or ira, anyone with savings in the market has a piece of this action. perhaps we've become rather blaze about it all. now they are par for the course. i think we should snap out of it. at a time of political divide and ugly confrontation, let's celebrate wealth creation. nothing goes straight up forever. but while it does, let's enjoy it, and let's report it. the third hour of "varney & company" is about to begin. ♪ ♪ ♪ . stuart: i'm not familiar with that song, but i'm told it's
called money talks. yes, sirit does. look at this. the dow is now up 111 points. 20,736. clearly, investors are shrugging off all the political turmoil. how about those big tech stocks? we follow them very closely. they're doing very nicely, thank you. that's another high for amazon. 856. up 11 bucks. google's up $4, apple's up a few cents. facebook down a fraction. seventeen cents. check out walmart. better sales there. helped by online selling and here's an economic indicator. more foot traffic at the stores. it's up 4%. how about home depot? better profit. better sales held by strong housing here in america. and the company is buying back some of its stock. it's up a buck 25. peter joins us now former goldman sachs partner. i want to shrug this off -- not shrug off the rally, but i think we should concentrate and celebrate this
extraordinary wealth creation that we've got here. >> well, if you talk to management, people are actually running companies, there are three positives and one quasi-negative. the three positives, they're happy about tax reform, happy about infrastructure and, oh, yes, very happy about regulations. what they're not so sure about is trade. they don't like bat. they don't like border adjustment tax. they don't like that kind of cross current. but other than that, management's happy. stuart: where are we going with this? >> well, a couple of months ago i was on here saying we're going to see a 21,000 dow. i believe we're going to. stuart: well, we're 250 points away. >> we'll get there. here's what i say. i really believe it's time for the second stage rock to kick in. we're starting to see it with home depot when i would call them bad rock companies that would deliver earnings. watch the transportation companies. they're delivering earnings. watch the retailers. even some of the retailers like macy's are beginning to deliver better earnings.
with these things conspire, then you see a second stage of the market. stuart: and you didn't we're starting to see the second leg? we've already gone up 2,400 points. >> yeah. and people are worried because there's 17.4 price per earnings ratio. but the problem is the fed, analysts, and a lot of people have not raised the earnings to where they ought to be. and i think you see the economic growth this week in germany and who can't stand up bigger than they expected. in manufacturing and service sectors. we're seeing the european giants start to respond. that's good news for us. stuart: is america beginning to lead the rest of the world? >> i absolutely believe that two things are going on. one is our economic growth and second our leadership. and you have major elections in germany, france, netherlands in the next few months. they're all watching us. and if it works here, i can assure you they're going to embrace it there.
stuart: you were first guy on election night who said great buying opportunity. you said it. >> i hope watchers infested, stay infested, pay no attention to the fed. pay no attention to the economists. pay no attention to the analysts. watch what the market does because the market's right. stuart: okay. you're on. now this. the trump administration wants to recalculate trade statistics. you do the recalculation, and it would show a larger trade deficit. they are proposing to mess with the trade nbe. peter morici, economics professor at the university of maryland joins us now. i've kind of said that's kind of pejorative phrased. they're messing with the numbers. what do you say? >> they are messing with the numbers. the notion that we import a product from mexico, ship it across the country and send it to canada, we count it as an import when it comes in but not an export when it goes out
is bogus. it's basically making the trade deficit look worse than it is, so we can say the legacy for obama is worsen it was. it's basically fake news, mr. trump. fake news. stuart: okay. what about -- this is not connected at all with the border adjustment tax; right? there's no connection here. >> oh, absolutely. the border adjustment tax is a great idea. every country in the world uses it. and as a consequence of us not using it, we are basing subsidizing their governments with our tax dollars, penalizing our exporters, and by exporting it. after all, walmart's so worried it's going to have to pay another $2 for a toaster before it puts it on sale. so will target. so how is this disadvantaged? you still need a toaster. stuart: i've got your point but the border adjustment tax is the overall tax reform. we have senators saying if you have that border tax adjustment in the overall package, it ain't going to pass the senate. so i have this question for you, peter.
which would you rather have? a border adjustment tax or a complete tax cutting package that passes and gets to the president's desk? >> well, the reality is you can't get down to 20% corporate tax without the border tax. because it generates the $100 billion in revenue that we get abroad right now. that you need to get to 20%. so you need all of the reforms but only get to say 25%. that's better than 35. but it's not good enough. my feeling is that 20% are corporate taxes are too high. but you know what the real problem is? these guys never -- they never learn anything from people that disagree with them. they're going to concepts and ideas that are 20 years old. this is a great idea. it's by a republican member of congress. it's not by economists. it's something economists weren't smart enough to suggest. i think it's great.
by the way, economists universally would like to have evaluated tax instead of income tax. stuart: i've got my own thoughts about value-added tax. no, i do. peter morici thank you very much indeed. i'm turning to peter concer. which would you rather have? a border tax or tax cut that doesn't include border tax? >> well, i'm relieved in one sense because i'm starting to agree with the economist, and he's a noted guy. i agree with the first half. i do not agree with the second half. a border adjustment tax on its own looks like a revenue generator. china is better at trade than we are. if you look at the top ten trading ports in the world, zero. none of them are in the united states. six of them are in china. china will play a tougher trade game with us. we're getting into a fistfight we will never, ever see that
$100 billion and that's why i bet bat will not get to the sena flo. stuart: and therefore the tax package will probably pass. >> yes. stuart: i've got a couple of winners for you on the upper -- on a very much an up day for the overall stock market. first of all, we've got nutrition retailer gnc up big. that's 15% gain there. lumber liquidators still losing money but less money than wall street thought. they like that and look at that stock. 20% higher. we like to pick out a couple of big movers. gnc and lumber liquidators in a overall upside market. the trump administration on the border wall. ashley: well, we heard earlier this morning that the dreamers will be protected under the latest orders put through by president trump. those are the children that were brought here by illegal immigrants. he had said he felt badly for those children who have been in the u.s. basically -- stuart: it's a very big deal.
ashley: a very big deal. stuart: yes, it is. ashley: now, these other memos actually say to customs and border patrol time to start building, designing, and putting together the border wall. they've identified three areas where they believe the border wall needs new those would be el paso, texas, tucson, arizona, and california which is right there on the desert of mexico, arizona border. those are three areas they've identified. they're also adding 10,000 ice officers and then 5,000 custom and borders officers. stuart: i see that at the bottom of the screen. immediate, immediate. ashley: immediate. stuart: border wall. ashley: and, oh, by the way, all the materials used have to come from the united states. stuart: i got that one. like the pipeline. ashley: yes. stuart: now this. former trump campaign manager cory lewandowski says president trump'staff has let him down in his first month in office. cory landowski is xt. your path to retirement
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. stuart: you're looking at the white house. new this morning details about new dealings for dreamers. the people who were brought here as kids and want to stay. ashley: this is more info on immigration from the trump administration and this is -- this leaves in place basically protections for the so-called dreamers. these are the immigrants who went to the country illegally as children. they had no choice in it. president trump talked about at the remarkable news conference last week, and he was asked about that and he said, you know, my heartbreak h. stuart: yes, he did. ashley: because these are wonderful children who have grown up in america. and to take them out of that, he understood how difficult that would be.
so as it stands, their protection now remains in place. stuart: peter, i think this is a very big deal politically. nothing to do with the markets but politically it's a big deal because those dreamers are no longer knocking on the door. >> it's a big deal besides is not something we should be threatening from the beginning. protecting the dreamers shows not only we're doing with toughness, we're putting with heartness and brain. and when you put them together, you're going to get better policy. stuart: gotcha. let's bring in cory lewandowski. the former donald trump campaign manager. i'm sure you've been listening to the news about the dreamers no longer having to worry worry about deportation protection by the dreamers announced by the president. i see this as a very good strong move politically. and you? >> well, this is exactly what the president has talked about in the campaign and what he said was first and foremost
wanted to make sure our borders are secure and what we saw today is that he has announced directly in line with what he promised on the campaign 15,000 new immigration officers border protection officers to make sure first and foremost the borders are secure. and then the next thing the president's going to do is he's going to deport those criminals who are in our country back to the country of origin. if we want to control immigration, the first thing we do is control the border, and then the next thing is deport those criminals who don't belong here legally. stuart: address the dreamer issue. i think it's a very important political move because tens of thousands if not a million youngsters brought here as children by their illegal parents, they're here, they've lived in america all their lives, they were worried about deportation, and now they don't have to worry about that. i think this is a huge move. you don't share that? >> i do.
the president has said he wants to look at it closely. he thought about this a lot in the campaign. you have to remember. in the president's view, these are people who came here through they were children who came in who didn't do anything pejorative, they didn't do anything to hurt the country. they were brought here as the only country they know and the president's a person with a big heart, and he wants to be sure that those people are protected as well. stuart: now, why do you say some of president trump's staff members have kind of let him down in the first month in office? why do you say that and who are you talking about? >> well, i look at the national security adviser not being honest with the vice president, the president of the united states, and, you know, the controversy that surrounded the resignation of general flynn. i look at that. i look at the rollout of originally the immigration plan and not having an attorney general in place to be able to go to the courts and defend the program the way it should have been. look, i think there are opportunities where the staff can continue to brief the president and make sure that they have a long view on things. this president -- what i mean by that is this president
wants to move very, very quickly. he's the type of person who gets things done. and what the staff should do in those places is make sure that all the back-end work is done so that the president's objectives are moving forward accordingly and i think, unfortunately, when immigration executive order was rolled out specifically potentially the staff didn't have all of their due diligence done and that's why we're seeing the controversy in the ninth circuit, which, unfortunately, is wrong but it casts a shadow on the order overall. stuart: cory lewandowski. former campaign manager. thank you for joining us, sir. >> thank you. stuart: yes, sir. verizon and yahoo, they're going to merge. still going to merge. but they've cut the merger price. ashley: yeah, the original offer back in july of last year was $4.8 billion. but since then, we've heard of two major data breaches at yahoo and people wonder what does that do to the deal? well, they're getting a little bit off the top. 350 million-dollar cut to the price that verizon will pay for yahoo's core internet properties.
also, they'll split any government investigations on the costs incurred there will be split between verizon and yahoo. but yahoo will pay for any lawsuits that come out of the data breach. >> that's a big deal. stuart: a little like to be there. ashley: yes. stuart: more on immigration coming up. the first 100 days, that will be martha. she's hosting next. we're going to talk about these rumors. yes, we will my business was built with passion... but i keep it growing by making every dollar count.
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. stuart: boy, do we have news coming out of the white house today? president trump's new immigration rules will protect so-called dreamers. about time we've brought in martha, she joins us from florida, jacksonville where she'll be hosting a town hall on immigration tonight. martha, we think this protection on dreamers is a very big deal, and i'm sure you'll be dealing with it tonight.
>> yes. we absolutely will, stuart. it's great to talk to you this morning. i am in jacksonville, as you said. we're going to have about 200 floridians there this evening as well as steve miller from the white house to clarify some of the issues that have been happening on this huge news-making day on immigration. he spoke about the dreamers last week, president trump did. he said daca is a very, very difficult subject for me. i love these kids. incredible kids. so clearly, it helps to kind of define where he stands on the issue of deportation. he wants to start with criminals and people on the list -- there's a million people who are on the list for final deportation, and they have been on that list for a very long time. and that -- the overlap with daca is minimal if existent. stuart: we had jiminez one of the people who is going to be there, we had him on the show the other day.
he's the mayor of miami county and said we're getting rid of any sanctuary cities. so i guess sanctuary cities are going to come up as well. >> absolutely. he's a republican mayor of miami dade as you say and he's been outspoken on this. he's the concern of the sanctuary cities and what these rules mean. i think the overarching thing that we're seeing here, stuart, is that in many cases laws that are on the books are being implemented. this is not necessarily any new rash of action. it really is sort of following through on the laws that already -- sanctuary cities have exempted the laws that were on the books, and i think we are seeing a change in that, you know? is it going to happen in places like san francisco, new york? no. but in places like miami dade where the republican mayor feels that he wants to follow through on those existing laws, yeah, i think you're going to see a lot of change. stuart: i think you're going
to have quite a hectic and dynamic session tonight at 7:00, and we will be watching. martha, thank you very much for being on with us this morning. thank you. >> thank you, stuart,. stuart: check that big board because we've come back a little bit. we were up 130, 140 points now. it's a gain of 80 points. a mere 80 points. but this is an all-time high for the dow. 20,700. we made it. we'll be back
with market professionals and thousands of other traders? i know. your brain told my brain before you told my face. mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade. . stuart: reports of 11 bomb threats made against jewish centers across the united states. that's happened. now we've got hillary clinton tweeting about that. listen to this. j cc threat cemetery desecration and online attacks are so troubling, and they need to be stopped. everyone must speak out starting with the president of the united states. come on in, please, former mayor. frequent contributor to this program. it makes it sound like mr. trump's to blame for these attacks on jewish senators. >> well, first of all,
president trump has already spoken out. stuart: he did. >> very clearly this morning. and the attacks we know about the neonazis. we've heard about that, but we don't know who these attacks are from. stuart: has the trump administration fostered a feeling of hatred and violence? because that's the implication from what the left is saying. >> there is great division in the country but i don't think that comes from trump. it was a very divisive campaign. and i think we need to be talking about the islamic nazis, and we need to be talking about the far left nazis because the anti-semitism today is coming from the left and the muslims. stuart: okay. got that. >> that's something we tend to ignore and, look, -- stuart: is that the feeling in the jewish community in america? >> it's -- well, i think that it should be. stuart: is it? >> i don't know. i know that there are many
jewish liberals who are out there at this ridiculous i am a muslim rallies. does that mean they support jihad? does that an they support holy war against muslims? is that mean thesuppt wife beating, which is prevalent in islam? does that mean they support having four wives, which is prevalent in islam? i don't think they support those things in the liberal jewish world. stuart: i think that -- i'm warming you up. i can sense that was a pretty strong response. well done, your honor. >> it's the reality. stuart: i understand. >> we have to be honest about this. stuart: will you address melania trump starting a rally by saying the lord's prayer? >> i thought it was great. stuart: you did? >> absolutely. i thought that saying a prayer is something that is traditional, started with george washington. george washington said a prayer at the hebrew congregation of savannah,
georgia, and he said to the congregation of jews. and he said i call on the divine providence to bless these united states of america through these gon congregation. george washington said a blessing that comes through israel, george washington understood it, and i think the whole concept of saying a prayer is a wonderful thing, and i thought that the first lady said that, it was great. stuart: were you shocked? because i was surprised. and i've been told for a long time that jewish folks would be unhappy of a christian prayer in a public place because you feel excluded or christians aren't going to -- >> i wouldn't feel excluded at all. the united states is a predominantly christian country. there's nothing wrong with saying a christian prar.
i think a prayer in general is a good thing, and they are praying to the same god. and i also thought that it was a blessing for legal immigrations. she said it in her very strong accent and there were tweeters writing could you hear her? she couldn't even speak. and they're ridiculing here because she has a slovenian accent. if she had an islamic accent, you wouldn't hear any criticism. stuart: i do need your comments on this controversy about crime levels rape and murder, in particular, in sweden following the influx of large numbers. i think it's 160,000 muslim migrants. there's a controversy about that. where do you stand on this? because you know something about this subject i think. >> well, i was in sweden 35 years ago -- some 35 years ago as a college student, and i
was visiting my swedish girlfriend there at the time, and i remember walking through the streets where she lived and everything was carefree. everything was -- you know, we could walk at all hours of the night and the swedes were just free will and happy people as i felt at that time. people would walk in the parks at night and there was no feeling of fear. 35 years later. i've had two speaking tours in sweden and the fear, you can feel it. it's palpable. the rise of the rapes of muslim men on swedish women is skyrocketing, going through the roof in the past ten years it has increased 70%. but we're talking about over the span of time of those 35 years as muslim americans of sweden have increased, people are living in fear.
especially in cities like malmo. . stuart: do you feel comfortable walking around any place in europe right now wearing your yarmulke? >> i never take this off my head except when i sleep or take a shower, and it doesn't matter what country i'm in. but, yes, there definitely was concern. i was always accompanied by people who were by my host and so on. but there are certain areas that i was told that swedes dare not go because they're controlled by the muslim immigrants, and they're going to be attacked if they go in there. stuart: we appreciate your input on all of these subjects, david. you're a welcome guest on the program. thank you, sir. >> thank you, stuart? stuart: yes, sir. i want to get back to president trump's ruling, i think you should say. he is going to protect the so-called dreamers. judge andrew napolitano is here. he's our point man on the whole immigration issue. i think this is a wonderful
political move. >> yeah. except when barack obama did it went berserk to stop him from doing it. the dreamers are young children brought here as infants often by parents whose presence was illegal. barack obama rarely defended anything he did, signed an executive order saying we will not deport these kids. it's not their fault that they're here. we're not going to rip apart families. 26 states went toet that executive order validated and the appeals court upheld it. the supreme court split 4-4 on that. now president trump wants to do the same thing. president trump in my view is moving out of the goodness of his heart here. the same motivation that barack obama had. stuart: it's a good move politically. some of the antitrump feeling. >> yes. yes. absolutely. absolutely. it also shows that the president is willing to look at this from a human and humane point of view rather than just a legalistic point of view.
i know you want to talk about what secretary kelly revealed -- released this morning. that's very legalistic. what the president did is the other side of that coin. and i'm glad there is another side to that coin. stuart: are you happy with what president trump did on the dreamers? are you happy with this? >> yes. stuart: meet constitutional muster? or is president trump saying that's the law but i'm not going to enforce it. >> it's president trump saying that's the law but i'm not going to enforce it. a doctrine that goes back to thomas jefferson. stuart: you approve of that? >> well, when barack obama did it, the courts said you can't. but now donald trump is doing it. we'll see who's going to challenge it. stuart: i want to find out -- look, is the president not enforcing a law that's on the books surely judge andrew napolitano can't approve of that. >> the president took an oath to which he even faithful disagrees. stuart: so where do you stand on this?
>> david was so easy with you, i'm trying to test your patience. in my personal view, he's doing the right thing. stuart: yes. >> but there arements on selectively enforcing the law on some. selectively enforcing on others. barack obama gotaught up in that and the supreme court slapped him down. stuart: today it was annoued there would be another 15,000 border guards. ashley: ice and border patrol. stuart: you approve of that? >> that's within his power to do if it's already budgeted. i suspect what they're going to do with 15,000 with benefits is a lot of money. they're going to ask congress for that in the next message. can they do that? of course they can. he promised he was going to reinforce the borders. of course he can. what are you smirking about? . stuart: you said you can indict a ham sandwich. >> yes. i can. stuart: and you usually do. >> yes, i do. stuart: i asked david if he could bring me a -- from the
middle east and he said to me what color? i said how about cardinal red? [laughter] . stuart: there's no such thing as a cardinal red yarmulke, is there? >> have you ever looked at the pope? [laughter] >> well, the pope's is white. stuart: clearly losing control of my program. welcome back, everyone. now to california. i think we're on safe ground here. i'm going to give you the headline from usa today. watch this. why nobody likes california governor jerry brown outside of liberal coastal cities. oh, we're going to deal with that.
>> i'm adam shapiro live on the floor of the new york stock exchange. the trump rally continues with a vengeance. look at that. the dow, s&p, and nasdaq all touching all-time highs. the dow on its way to another record close. this would be the tenth if we close in record territory since donald trump's
inauguration as president and the 27th close since election day. all the stocks hitting all-time high today, up half a percent. apple up today. boeing also up today. we do get airbus' earnings tomorrow. big competitor of boeing is going to be releasing tomorrow. home depot had better than expected earnings. they're up today but also raising their direct evidence 89 cents and they announced a 50 billion-dollar stock buy back. finally another stock amazon, costco, honeywell. more varney right after this
. stuart: now, what's going on? yes, we've hit a series of new highs. we were up 130 now we're up 67. any idea why we've turned down a bit? >> yes. i think the major thing is that people who are buying stocks are seeing earnings growth much higher than the people whose job it is to analyze and predict. and that gap is the problem. so you have the fed and many research analysts who haven't lifted their earnings forecast for the year. why? they're a little bit skeptical tax reform is going to take place in a timely fashion. it may not take full form until october, which means it won't be retroactive, which means you don't raise your prices. i think people should look at the markets and what people are buying rather than the prognosticators because they're being timid right now. stuart: you're still very bullish, aren't you? >> i am. stuart: still straight up.
>> yes, i am. stuart: but don't listen to janet yellen. she's predicting 2% growth. i think it's going to be better than 2%. stuart: got it. peter. thank you. california's rural areas seem they have no voice in the state that's being run by jerry brown, a democrat. look at this quote from usa today. quote here residents distrust a state government that they think is all too eager to help undocumented immigrants and build a bullet train to serve the rich coastal elites leaving them with little. joining us now is larry elder, talk show host. larry, you're a california guy. i thought all californians resented p not governor brown. what's going on? >> oh, that's not true. this is a two-state situation. you have the coastal elites, you have silicon valley, you have central valley, and other people in california who absolutely hate the tax spend
regulation nature of this state. there's a magazine called ceo magazine. and 12 years in a row they've rated california theorst ste to do business in terms of taxes, regulations, and quality of life. not only are the elites doing things like coddling illegal aliens and august fighting claimant change. and as a result, you're having a net migration of middle class californians. rich people are remaining rich. poor people are remaining poor but the middle class is leaving california. stuart: but in your lifetime you don't expect a republican to be elected of california do you? or do you? >> i really do. i think there's going to be a revolution here in california. people are going to rethink their assumptions, not unlike the way the nation did in terms of donald trump. it's going to take a big crisis. we're already there. but checks are going to have to start balancing. people are going to have to stop getting paid. government workers are going to have to stop getting paid and at that point maybe, just
maybe california will rethink its attitude. but it's absolutely out of control. stuart: you're nowhere near that crisis point in california. i mean, you've got the big silicon valley contributors to the treasury in sacramento. hollywood does its thing in los angeles you're nowhere near a financial crisis, are you? >> we really are. we're nowhere near people recognizing that we're in a financial crisis. you even have bill maher one time complaining how high the taxes are. phil mickelson said the tax rate in california would be over 62%. it's outrageous. stuart: do you think that this new opinion i should say from president trump that he's going to remove -- keep protection on dreamers? that presumably will go down very well for mr. trump in california, won't it? >> i think it will. he's prioritizing the people that should be deported, and
he's focusing properly on violent criminal offenders as opposed to people who came here against -- with no say in it at all by their parents who came here illegally. so i think donald trump is prioritizing the people who should be forked. stuart: thank you for being with us. we appreciate it as always. ceos writing a letter to leading lawmakers. it is all about taxes. a, ashley, who wrote it? b, what is in it? ashley: some of the biggest companies in this country, the boeing, the ratheons, the dow chemicals, all of those rising to the top leadership in the house and the senate coming out in support of house speaker paul ryan's tax plan which would reduce the tax rate from 35% to 20%. it would give them a break on exporting costs but also then would take away the deductions on imports. another way of saying the border adjustment tax.
so, in other words, boeing is in there, ge, these are the companies saying they can generate so much more in the way of jobs if they give us a level playing field, and they believe that tax plan will do that. stuart: and that tax plan is cut the corporate rate of tax and keep a border tax they're right. stuart: those ceos are in favor of that. what do you make of this? >> i make it certainly helps them. i understand why. i don't think it's good for the american economy and those ceos know competitive response. the notion that we will have a massive 20% border adjustment tax with no response from any of our trading partners is foolish. nothing less. ashley: interesting. stuart: it sure is. coming up, we're going to take a moment to remember a very special colleague. brenda buttner who passed away yesterday at the age of 55.
that's the latest and they're the largest global company in veterinary medicine. >> watch out. ramon is going to replace you guys. >> you're a treat. >> you know there are a lot of female viewers who would like to be a tree hugger right now. >> crispy cream up 15% in a year. >> i want the jonas diet. >> why it will be up 20% in a year. >> how do you blame them? but where's the good stuff? where is the box wine? come on. >> save our animals. >> the rest of these. ♪ ♪ >> in new york, brenda
buttner, fox news. stuart: our colleague brenda was 55. i might also add she was a road solar, she went to harvard, and she went to oxford. she was one bright lady. ashley: and a pioneer. stuart: that's right. ashley: in the business reporting world. stuart: yes. ashley: she always had a smile on her face. stuart: oh, yes. she will be missed. brenda buttner passes at 55 and i say it again. she will be missed. with every early morning... every late night... and moment away... with every click...call...punch... and paycheck... you've earned your medicare. it was a deal that was made long ago, and aarp believes it should be honored. thankfully, president trump does too.
stuart: another big, long, three-hour show. what was your favorite story? ashley: i think the biggest story we've done this morning the fact that dreamers will continue to be protected under new immigration orders from the trump administration. he mentioned it last week during the news conference. he followed through. he actually put this in place. does he win friends on the other side because of what would be see a humane stance? maybe. i'm looking through twitter.
a lot of angry people who don't agree with this. stuart: peter kernen, i know what your favorite story, i know my favorite story from you. you think the second leg up of this bull market is about to start? >> i am impressed by the resilience of this market. we've gone can almost 90 days, 90, with a 1% down day. tells me patience will be rewarded. this will be the most talked about rally in history unless donald trump doesn't deliver. stuart: deliver what? >> tax cut, not talking about 2018. this year. put mnuchin on the tax. he will get a tax reform package. that's what we need. stuart: you have to have tax reform by august or september, very latest? >> you get into october, december, talk about something not retroactive. he he is chief executive officer by training. put your troops on that don't come back to my office until you have a tax program for me to sign. stuart: if we get news from the
white house we've got a tax cut bill and we got it this summer and know what is in it, it is retroactive, the market takes off. >> the market takes off. by the way, that is tough thing, the house, sene, oh, yes, the esident. if it gets to his desk we have wonderful response. stuart: we love that story. don't you love that story, neil cavuto? neil: if it is retroactive. wonder keep delaying this, pushing it back, it will not being retroactive. we'll see. thank you very much. the debate on the tax cut notwithstanding something we get into the next couple hours, we're focusing on a record for the dow, the 8th in a he row. a lot buoyed by the retail earnings came in surprisingly strong with walmart, costco, home depot, on and on we go. what does this mean if this keeps up and if a border tax would presumably hit the retailers would that rain on that party? to gerri willis who has been crunching all the numbers.