tv Varney Company FOX Business February 21, 2018 9:00am-12:00pm EST
>> great show, everybody. rock on. thank you for joining us, everybody. charles payne in for stuart this morning. charles: thank you very much. now, stu hopes to be back tomorrow, but we have a lot of big stories for you today.
the market feels anxious right here. remember, we had one big losing week and one big week of gains. we're going to hopefully get some clarity from the feds this afternoon but right now, there's feeling of uneasiness and uncertainty. one thing that is certain, nancy pelosi doesn't like the tax cut plan and add that to armageddon, and the list is packing up. she was even heckled while she was saying all of this. we're going to play that tape for you later on. and for the first time in
recent memory, this is a real movement for republicans on guns. president trump calling for a ban on those so-called bump stocks, tougher background checks and today at the white house, president trump meets with students and
teachers that have been affected by this issue. a lot can happen in three hours, so bulk up and get ready. "varney & company" is about to begin. ♪ ♪ charles: we begin this morning with billy graham's passing. the legendary evangelical leader passed away peacefully at his home. according to his family, he was 99 years old. liz peak, ashley macdonald is here. liz: had 215 million people listening to him in 185 countries and territories. he was close with queen
elizabeth and dr. martin luther king. started right after world war ii. so decades of being an example of personal relationship with jesus christ and god. that's basically the foundation of his ministry. ashley: probably one of the most revered of all time, no doubt. a life well led, as they say. charles: absolutely. >> and somehow avoided any political involvement. counsels any number of presidents and political leaders. but really, it was just about a love of jesus christ and god. so everybody loved him. charles: everybody did. >> amazing. charles: i remember how much my parents, particularly my mother loved him. and i think every president to a certain point met with him and sought out his counsel. just a sad loss but 99 was a great life, and he touched so many people. now we want to switch to, unfortunately, to politics. nancy pelosi was being heckled while talking about the tax
law. >> most people have to struggle to make and meet. so -- no, we're not talking about that. charles: the voters don't seem to be paying attention to the did he mean criticism of that tax law. the most recent clear politics averaged a generic ballot poll is asking voters which party do they prefer in congressional relations? and right now, democrats, they have roughly seven-point lead over republicans. but right now, the lead was 13 points after congress approved this tax law. and there are other polls including political morning console poll. their republicans are actually leading by 1%. come on in, liz peak. foxnews.com columnist and the question now it feels like there's an obvious sea shift if you will in the president's approval ratings and a variety of polls. >> well, the main thing is the tax poll.
an amazing accomplishment by democrats to trash that bill telling people that almost no one was going to get a tax break, et cetera. what we've seen is improving polling on the tax bill and with that a better look at the gop. but what's interesting about this politico poll is a third of the people were undecided, independent, and they also had no impression about the tax bill. a third of them -- only 30% thought they were going to get a tax cut. so i would say that's -- there's room to grow there because that's not to it. charles: there was a headline in december from one source that said that past tax hike plans were more popular than tax cut plan. >> go figure. charles: think about that. the odds -- and i think maybe the mainstream media and the democrats overplayed their hand. maybe they set up expectations to be so awful, people were, like, wow my check's a little bit bigger. wow we get a bonus. wow. i get paid maternity leave. i never got that before. ashley: and they were banking on the economy not doing
well. charles: but, unfortunately, nancy pelosi keeps doubling, tripling down on this. charles: there's a theory. more money equals more smiles. very complex. but the more i work and the more i keep. it's an interesting concept. ashley: wow. charles: all right. speaking of which, let's take a look at stock futures now. there have been a roller coaster of a month so far. you can see right now, though, we were down i think on the dow as much as 200 points earlier premarket trading, which has become something we've gotten accustom to. but it could be intriguing. a lot of it could depend, of course, on bond yields. that's what's spooking the market. i want to take a look at the ten-year treasury yield. somehow the magic number has become 3%. joining us right now market veteran jack. investors are getting nervous about interest rates. i've looked throughout history, and i've looked at the four past peaks on the
market. 12% on the yield. 12% yield once. eight, nine% yield once. the most recent time markets crashed were 4.5% and going down, by the way. why is 3% enough to derail the market where the underlying economy is getting so strong? >> i think a lot of it, charles, is the fact this tug-of-war that's going on between stocks and bonds over the last ten years is that the fed is tied one arm behind the bond's back. and that's because interest rates are just too low for economic conditions, thanks to all the bond buying that's going on. not just from the fed but also the other central banks worldwide. charles: so why would that change? in other words, if the economy now if we've gone from what i call survival mode, if you will, back to a growth mode? and, you know, the earnings are phenomenal. we're coming out of one of the best he didn't seasons ever. all indications we're going to continue this streak. so there's some justification. we knew the fed couldn't stay zero forever. >> right. charles: so why would the markets be so worried a move
up to 3%. >> well, first of all, we're paid to be worried. so that's part of the bias that you see. secondly is we've got a potential growth rate of our economy right now of only about 2%. our labor force is growing at 0.7 and productivity is running at 1.5. so when you have trump and company banging the drum for 3% in an economy that's really only set up to grow at 2, you're going to run hot. you're going to run -- charles: so you don't make allowances for artificial intelligence, big data collection, robots, you don't make allowances for the impact that that has that maybe we don't need the same size labor force that we want -- >> i absolutely do. i mean, if you look at right now i'm just reporting how the cards are dealt. 1.5. if we get ai, if we get robots, if we get all of that stuff and productivity rises to 2.5, then you're absolutely right. we can sustain a 3% economy -- charles: i can say right now that friday jobs report that set all of this off, the 2.9%
hike and wages, that was really minuscule compared to a couple of years ago. and our viewers are wall street are so upset that they're getting more money in their pockets. walmart, they had a rough session. i think the roughest session in about 20 years. a negative reaction because of the way the company reported its online sales. 10% down. what do you make of it. >> well, i think, you know, it's going into the deep end of the pool, and it's battling with amazon in its own space and apparently it's not working as well as walmart had hoped. now, they've allocated 20 billion to go after amazon. but amazon's got deep pockets and a lot of patience. charles: well, walmart has deep pockets too, though; right? >> oh, absolutely. charles: by the way, do you own walmart. >> yes, we do. charles: thanks. look at the parent of applebee's right now closing hundreds of locations because
they're not winning over millennials. federal judge also -- by the way, up big yesterday. 16%. a federal judge ruled that at&t isn't entitled to details of the trump administration's internal discussions on that company's proposed merger with time warner. you have more details. ashley: i do. basically, what's happening is at&t and time warner say that, look, the justice department is trying to stop this merger. it's all because of politics, they say. so they went to a judge and said we want to see some of the internal communications within the government who are suing to have what the government calls anticompetitive merger. so that's why it went to a judge. the judge said you have to reach a very high hurdle for me to turn over nonpublic government communications, and he said you are falling well short of that. so at&t, time warner basically they claim it's all about president trump's not liking the deal and his absolute hatred for cnn. of course, cnn belongs to time warner, so they claim that's a big part of why the government is trying to stop this merger. a judge says sorry.
you can't have access to any of the government communications. so we'll see what happens. but it was a loss, you could say, for the two companies. charles: sure. sure. and now this. billionaire doing something interesting with their money. tell us about the clock that jeff bezos is building. liz: building it inside a mountain it's solar powered. a mechanical clock that will last -- watch this -- 10,000 years. he said i want to build a clock that ticks every year. over the lifetime of this clock, the united states will not exist, whole civilizations will rise and fall but what will endure is this clock. so it's interesting he's focusing on this. ashley: too much money. charles: i have my money on a sundial outlasting that clock. an old school sundial. hey, by the way, check this out. we've got new video from boston dynamics. this is the newest door opening robot.
they're showing off how they test this thing. he's slapping it with a hockey stick. and it stays right -- staying up right. imagine that. it's coming after you one day. might have to just give up. all right. also, i want to check the futures. again, we made a nice reversal here right before the open. the markets are very volatile and president trump getting serious about the ban on bump stocks. that's the accessory that you put on a semi automatic rifle, and it turns it into a rapid fire machine gun. plus much more on the passing of billy graham. mike huckabee joins us this hour, and he will talk about graham's life and his legacy
i made my own way, now it's time to make yours. ♪ ♪ everything is working, working, just like it should ♪ tripadvisor compares prices from over 200 booking sites to time to bask... in low prices! find the right hotel for you at the lowest price. refreshing, isn't it?. tripadvisor. charles: during an event at the white house, the president said that he signed regulation on bump stocks. and he told attorney general jeff sessions that he wants guidelines finalized very soon. here's what florida
congressman carlos said about bump stocks right before the president made that announcement. roll tape. >> we have to ban bump stocks. that's a simple step that we should also incorporate into a broader package that will, again, keep americans safer while protecting second amendment rights for everyone. charles: joining us now, brad blakeman, former deputy assistant to bush 43. obviously gaining momentum. how far do you think it's going? >> well, i think we're going to make some movement this time. i think the president took unilateral action, which he could take under his authority but much more needs to be done on the state and local level. for instance, the school boards. they're in charge of providing safety and security for their school children. responsible for making reasonable restrictions to the second amendment. whether it's background checks, we also need to work on mental health identification and most importantly, treatment. and we also need to talk about the age that people should be
buying certain weapons. and perhaps restricting the availability of certain weapons. charles: right? >> this is the time is right to have the kind of discussion and have reasonable conclusions made in the various venues whether it's the state, local, or congress. charles: well, from the federal level, there's scuttlebutt this morning that the president might address the issue. they can't sell rifles under 18 right now. they can't sell handguns under anyone 21. so we might see some adjustments on that. also, there's concern among second amendment advocates and gun owners who understand that there are large forces out in this country who want to take away their guns period and try to use these massacres and horrific events as an opportunity to do so. so we are going down an interesting path, aren't we? >> we are. and it's a balancing test. we want to make sure that we preserve the rights of the second amendment. but that doesn't mean that
they cannot be reasonably restricted, as they should. the weapons that we have today are much more destructive. and the use of weapons is so far beyond what our founders even considered. so it makes good sense every now and then to take a look back at the laws we have and our constitutional rights and understand what is in the best interest of america? that's exactly why we have a supreme court. charles: right? >> but they shouldn't get to the court. they shouldn't legislate. we should do it in congress. charles: right. i also want to ask you about the big news this morning, the passing of bill graham. of course, he advised every president since truman. in fact, you met him once; right? >> i did. i met him -- i had the opportunity at the bush library opening 41 for college station. and he was just awesome. friendly, he had an aura about him. when i met the pope, i felt that same kind of aura. a man of peace. he was the moral compass for
decades for our country. he was a reliable ear for our presidents to talk to in confidence and needed spirituality when presidents were making life or death decisions for our nation. he's going to be sorely missed, and he's really one-of-a-kind. generational. people like that come around very rarely. but he was the right guy at the right time for our presidents to have the kind of counsel that was needed. charles: i agree 1,000%. i never had the pleasure to meet him. i feel like so many others felt that we knew him. thank you very much. >> pleasure. charles: well, this could be a big deal. a new pill to treat peanut allergies is showing some good promise. dr. mark siegel is going to show us how it works. next hi i'm joan lunden.
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charles: a quick check of the futures. you can see nasdaq, which has been extraordinarily strong the last few sessions is going to be up by the usual names. everyone watching the dow, though, because we were down big. relatively flat, but you can sense the tension. it's like a coiled spring right now. now, there's a new study out -- a new report on peanut allergies treatment, and it has actually shown promise. i want to bring in fox news correspondent dr. mark siegel. dr. siegel, you're always ahead on these things. your take on this.
your initial assessment. stuart: so two years ago they looked of giving little bits of peanuts, charles, to kids who have never seen them before. very, very young. and they found that the incidents of peanut allergies dropped dramatically if we expose our babies to peanuts. so it's not surprising that this new study by a company called aimmune technologies out of california looked at 500 kids who already had severe peanut allergies, and they found over six months period of time if they give this many tiny microscopic peanuts, they're able to eat a peanut or two a day without having severe reaction. charles: some sort of vaccination almost. the same theory. you introduce a flu thing. is it the same theory once your body learns how to attack this. >> estates exactly the right way to look at it. it is like a vaccine. you give tiny bits of it. not enough to trigger a
allergic response. and then you get to the point where you can tolerate the food. now, i'm not telling people they're able to eat peanuts after this. but you know what this will work for? cross contamination. so if you accidentally come across peanuts in your food or tree nuts or whatever we decide to use this for, you're not going to have the severe allergy that requires an epipen or go into the emergency room. so i think this is very exciting. 500 kids, this is a breakthrough. now, the downside are the 20 kids that had to drop out of this. so we have to be very, very careful. charles: that's a large number. would something like that get fda approval if it didn't work on 20%? >> i see fda approval in the future here but only under careful supervision of an allergics. you're not going to be able to get this over the counter, that's for sure. charles: we were talking during the break and liz was explaining how her husband has severe allergies to peanuts. so would it help for someone who is older and mature and immune system seems to be set
for lack of a better term. >> this is exactly who we. to the target, liz. 15million food sufferers in the united states. 6million are kids. but it will help decrease his reaction so that he can tolerate food that he didn't know about. but, again, he's not going to be eating peanuts. so it's a big advance for someone like that. charles: thank you very much. appreciate it. all right. now we have president trump weighing in tweeting about the death of billy graham. saying quote the great billy graham is dead. we will miss him. a very special man. more on graham throughout the show, folks, and the opening of the market, it's also next i want you to pick a new truck for your mom or dad, knowing that they could possibly pass it down to you one day. cool. but before you decide, you should know that chevy silverado's are the most dependable, longest lasting full-size pickups on the road.
intriguing situation to let's set it up remember two weeks ago the market was in for the lack of a better word two sessions where it lost over 1,000 points and then next thing you know next week recovered 1,000 dow up 4.5%. led in part by really earnings reports, some of the main names that we know. so this week could break that tie if you will certainly we
want a lot of answers hear from the federal reserve many people are guessing that they may overdo it because they've overdone it in the past and saying this is overdone and be an interesting open to the session and be another within of those days where you need to buckle up so here we go opening bell right now you're going to see board at the top wall with mart that's oversold balance and worst session in two decades yesterday as online sales came less than expected. apple getting buys after rough january end, and somewhat early in the month home depot had amazingings report and nike up in part because of sneaker stocks. caterpillar monster so expect that to continue to happen. so we're looking at a pretty mixed but okay open to the market considering at one point this morning that dow was looking like it could be down over 200 points. so again you've got the right mix of the right names leaning charge nothing getting hit hard right now. and again the market also
digesting a lot of earnings. i want to take a look at the s&p 500 as well a broader measure of stocks that's up 3.3, 3 points rather virtually unchanged but on upside nays tack is where action has been. we saw a lot of tech names, in fact, tech was the only s&p sector that being the green yesterday -- huge name, huge rebounds, a lot of people going back to the names that have made them a lot of money over last two years in that continues to happen. one with of the keys, of course, that tenure yield -- the yield on ten-year bond 3% become magic number with four drops underneath us and we live in caves again. i don't think that's going to happen but a narrative on wall street these day. alsolet take another look again at wal-mart because that was a huge story i think it was a company specific story not an indictment of the economy. they posted really the numbers were mixed. they missed on the bottom line they beat on the top line. store sells is better than what wall street had anticipated but
they just could not handle their online business it was really a mention of things buying equity is down today a parent of a physical bees and closing hundreds of apple bee locations but real story here was yesterday. this stock was up 16% on guidance. again i think a lot of that is related to tax cuts and people going out and management says they're going to spend money so crumbs are turning into pancakes because they ihop and liz and shaw, to you first wild market swings you know, of course, the market when you get to 26,000. a thousand points you know percentage wise isn't record-breaking. but the number is huge marly we see it on front page of a newspaper first thring people do is check 401(k). j they do and they should market is calmed down a little but i don't think we're out of the woods yet i like they have had had a great bounce and holding markets up. but i think it is a little dicey in here and i agree that it seems to overdone. but the 30, ten year tboipg to 3% is a problem for a lot of
investors i think it is a problem because there will be a lot of selling of bonds above 3% that could trigger risk and trigger and all kiengdz of problems not just magic number 3% but what happened happen in terms of selling. >> what about notion that ultimately stocks -- stocks are reflective of future earnings. we're going to have an amazing economy 2018 that's mean amazing earnings for stocks. if i'm holding a stock in my 401(k) do i follow panic in the wall street minute to minute trading? >> absolutely not sthses for moves for opportunities to traders to get lower if they want to add a the position. but for long-term investors you stay the course. this is gong to happen. the markets are always mechanically driven at certain points this is one of the points we could see market. i'm looking for market to go lower. i'm looking for an opportunity lower. >> this year do we have to tell -- i think 23 something in the dow? >> i think it says it says break
point is 3 5 in the tenure and last saw that was in 2011 and some say 4% is when market goes haywire we have a huge amount of bonged selling 260 billion, 170 billion in just one span of hours yesterday. i mean, a crowd of bond trades. tfntle before the great recession at 4.5% and coming down so i don't know where 3% has ever triggered a massive selloff. but for me it is not 3% but it's -- exactly. it's a sea velocity over the decrease in terms of the bond and a the yield. that is going to scare is a lot of people. 3% is not a magic number it means nothing. but if it goes to 3, 315 quickly what if that has time to react. investors will get very nervous. >> one stock people on mart they have that big mess and didn't control management listen we couldn't really control inventory and stock had had a
huge hov but internet sales, right now wall street wants to see them they're online sales coming in at 50% a quarter or better. can they pull that off? >> done a great job so far increasing in online sales is 25% just disappointing in terms of sales. they've done a fabulous job i think it is great and a buying opportunity down here. >> ting reminds us how incredibly good amazon has been in building up this business right because what happened at wall heart is they gored up for, you know, the 50, 60% kind of sales gains they've had had as for several quarters that's what they need to do to prove to investors to compete with amazon but guess what getting inventory is sorted out at christmas time trying to do that it didn't happen and it was a mess. >> what really gave a stock a whacking was operate oing profit margin went down to 3.3% and now behind scenes they're scrambling saying can we spepgd a lot of money to go after the amazon customer or should we just focussen the wal-mart customer? and people complaining that the online site has higher prices in
store. >> well they have to spend money and they have to sacrifice margins like amazon did and hopefully they'll get the blessing -- >> sames club as well at the same time. trying to cut back. it is a kos koa story and when he was alived he admitted couldn't beat costco because by the way yesterday -- it has been done and going extraordinarily well. >> wal-mart was built on cheap prices it was not built on fast delivery so they have a really major shift here to their game plan it is not easy. >> all right let's check on the big board real quick because -- get a nice little rally going on again we were down, this is a strong start out the gate we really look what's happening here. some of these individual names that have reported include advance auto look at that they beat stock is surging here really nice move. looked interesting yesterday that's o'reilly better than the market yet maybe a tell. this is a network saw their profits surge in part to boost from that tax law that stock,
though, edging a little bit lower. and the club an amazing idea when it cam out it felt like it could be something special continue to flonder it is in deep trouble after giving qeak outlook and then this transocean the company -- losing money again, you know, it is really tough but the rates particularly -- these sort of rigs that are at sea. i want to take a look at dine equity a market of apple bees and aye hob apple bees closing hundreds of locations there was some experiment trying to win over millennial just not necessarily their bunch but look this stock is up 3% today up 16% yesterday. and it is all about the guidance. their same story guidance for both restaurants extraordinary. i think shaw it speaks to peel getting more money in their pockets. and spending it people are spepgding money. by the way, you guys michigan sentiment number there was a line in there where they said this is lowest in decades that people cared about prices being
cheap. they're not worried about it. they're not looking for something -- >> consumer is strong and a lot of debt they've accumulated a lot and plenty available to them so spepgd and buying. i just don't in terms of dine equity and in terms of disclosure, short it. but even more puts on it yesterday. just if you with look through the headline numbers, earnings were awful. headlines were -- because guidance was phenomenal. i don't understand if you look through the entire report and what they have out there what they have going, their guidance makes no sense to me so -- >> i'll say one thing to you pride, with pride enego right the stock is up now, and 18% in the last 24 hours. where do you stop out of the short or do you stay because you know fund mentally it is flawed. >> i have time on it and i bought some so i have a little bit of time left. but i think this is overdone. but a lot of short covering there's so many -- a huge position on this stock.
the beat number look fantastic and break them down thrrm a loss. j going back to bases they tried to be a modern before and grill hangout but now going back to all you can eat specials i love this as a trend story what apple bees saw. the in the markets and going back -- >> same store greet at apple bees down 5.9% and down 1.9 and they're down not up. the guidance is up 3% so they can make those turn arngds that to your point would be huge. a huge tun arngd with fewer stores. by the way, guys i want to say good-bye to android pay. good-bye. [laughter] google as tools under google pay -- all right shaw apple should they be worried about this? and you know, listen everybody is going after everybody in this -- >> this is really tough station no one has command it i don't think apple has --
google has tried not tremendous success. anybody who owns this space will be a monster category to own. no one has been able to do it. >> liz -- >> i qowld agree with that. lots of room to play for everyone. third attempt to hone in on apple. but -- >> google they're going to get out of space in all of these deliveries. >> people are worried about privacy you know hacking are they worried about that? >> you would think. but again it is about ecosystem everybody wants to gravitate and companies want to gravitate into ecosystem and stay within that ecosystem this is part of that process for google. >> all right thank you all very much. especially liz and shaw for being with us. great conversation really appreciate it. let's get another quick check of the big board. the dow jones industrial average up 90 looking really good, of course, it is early and we know you buckled up but maybe we find equilibrium build support there. got a biotech company -- here i wanted to get in on bitcoin craze you remember they that i
changed to riot and stock exploded to upside. well now share is hold verse filed a class action lawsuit saying that the company made, quote, misleading statements and ceo will join us in the next hour to discuss that in, of course, there's a really sad breaking news this morning. the report that rerchtd billy grandma has died. he was 99 years old goarcht mike huckabee will react to that news, next. proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease... ...and lower your a1c. wow. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing.
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>> check the big board dow gongs industrial average up 91 points that is another one of those crazy, crazy sessions. meanwhile, crazy day for tesla. tesla is amazon cloud account was reportedly hacked to my emac how do they do that? >> poorly secured access credential so this is a real black eye for amazon people thought that amazon cloud was sort of like a fort knox so these cryptocurrency guys -- put in the cloud space up there a mining software operation to
do virtual currency you know bitcoin cryptocurrency trade so tesla found if. they shut it down i'll tell you, the question is, was the -- all the sorts of engineering secrets for tesla cars was that stolen so they're looking into that u right now. >> we know that cryptomining computers are most powerful in the world and suck up more energy. you put three together and you get equivalent of a whole city. they're amazingly powerful. >> happening a lot and hijack your website -- in the cloud and then this mining crazy. >> wow. now this to americans on prosperity tim phillips said about this gop targeting red state dems. roll tape. >> mccaskill and every democrat they said no to cutting taxes for the vast majority of americans including american struggling on lower income ladder an they chose partisan politics they pick nancy pelosi, chuck schumer and set up instead
of given indiana, a tax cut. i think it has a difficult vote to explain. >> well midterm elections are november i want to bring in former arkansas a governor mike huckabee. governor what are you thoughts on those comments? >> i think he's spot on. i think it is going to be very, very challenging for democrats to explain their vote especially when people are being able to reminding them look my paycheck is better and starngd starngd of living better and money to spend on my kids what's wrong with that. what's wrong with youening that's the big question to ask a democrat. what's wrong with you? >> of course they box themselves into even worse hole because they're trying to justify it. one thing to say you know what we made a mistake but they -- dug themselves in so deep particularly nancy pelosi with the crumbs comment and fun patriotic comments that -- you just got to wonder, you know when you have a someone worth 100 million belittling people
getting 2,000 bonuses. fnlings well charles but been easier if they had taken their bad vote back in december and immediately after the effect started coming saying you know what maybe we were wrong. maybe this is going to turn out geds and we're glad for the people. but instead they have just doubled down on calling it crumb and saying that it is all about rich are people. but all of these people who are middle class and barely making it and they're seeing better paychecks a they're getting big bonuses from their companies -- you know, what they clearly get now is that democrats are utterly out of touch with them. and that's why a lot of democrats didn't vote for the democrats in 2016. and that's why i think a lot of them won't vote in 2018 either. >> could this put pressure on democrats than with upcoming legislation on particularly infrastructure like a bipartisan issue. everybody hit a pothole in the last year or so. so could this actually help get something like that done? >> well, with it should.
but i'm just not convinced that democrats are capable of getting beyond their own echochamber. you think that they would have embraced the proposal that donald trump laid on the table about daca but they didn't. he was giving them more than they asked for. they're like dealing with the poo. they truly are. you give them everything and they say no that's not what we want and you can't figure out what he they want because they don't want anything an they don't want so much to win for the people they supposedly represent. they just want to make sure that other side isn't able to accomplish anything and that's sad. that's sad for america. >> i think they take being the loyal opposition to heart a lot more than the idea of just bing to washington serving all americans whenever you can. i want to shift gears here govan because , of course, the big news this morning, the passing of billy graham legendary leader what are your thoughts about this this morning? >> well when i heard the news that billy graham was dead i said now there's a real example
of fake news. why? because billy graham is more alive right now than he's ever been. and frankly charles, if he's not, if billy graham is not alive and with with the lord right now, then everything he lived for everything he preached is an utter hoax. i'm convinced confident that today -- while his physical body may have worn out at age 99, he is very much alive and the life he lives right now is a life that will never end. i'm comforted by that fact and hope that's what he preif that side we're all sinners jesus christ is a savior when we trust him even when we with die it's not thest last chapght of ash lives. >> amen govan huckabee, thank you very much. now on the dow 30 -- markets actually getting a little bit of a boost here. success and success now to highs of the session only four stock lagging, of course, these and basket case mickey d at the top
of the list but followed by a nice mix from several different categories. a really strong session for this market. dow up 126 points. and gaining momentum. meanwhile a judge blocking 18 requests for the white house law center related to time warner antitrust case. judge says d.o.j. is dropping ball on this on he's going to explain, next. ♪
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>> at&t denied access to white house logs for the angst trust seat. judge napolitano is here and you say the d.o.j. is dropping the ball here. >> all right, so the d.o.j. sued at&t and time warner to prevent their merger. this is a -- vertical majorrer to at&t own pipe and time warner owns, so to speak, the information to flow through the pipes. the justice department says too much power -- to control the message. at&t and time warner say your real problem is that your boss doesn't like what cnn says and
there are thousands of examples of him reeling against it. so they're going to show as a defense the donald trump's personal to politic of cnn that is interfering with had this merger if they can succeed in that bail prevail floured to succeed in that or to make that case they asked for a lot of information about with whom trump has communicated and one of the things they asked was white house visitor log and they said no, too broad and too far i judge will look at communications between the president and the justice department and jeff sessions. the attorney general and a the antitrust people. and i will decide whether or not you're going to see that. but you're not going to evade president privacy of knowing who goes into the oval office. here's where the d.o.j. is dropping ball when d.o.j. wants to prevent a merger most effective thing it can do is to negotiate conditions with which the two merging entities will
agree. they're bound by those conditions forever. but when the d.o.j. sues to stop merger if d.o.j. loses there's no noes. >> there are conditions offered on by the companies. but by the same token can president trump have animosity towards a network that has been extremely unfair to him and be legitimately concerned about how much power they will wield with respect to the ability to sway public opinion and control certain advertising? >> u how fine a line is that for lawyers to explain to a jury in washington, d.c.? yeah. >> antitrust legislation in this country before rulings it would be a pretty big if they got together. >> yes. they permitted other the obama administration permitted nbc universal. this justice department is permitting sinclair i forget their merging with. but it will become a huge media
behemoth so they have to walk with with a jury the president does hated them but we don't take orders from the president this is not base on hatred but too big of a market share. >> obama is stopped staples in office depot for merging give me a break. [laughter] it is like too drowning companies that need to hold on to each other to sure a little longer all right judge. j you know on this antitrust laws don't work. you can merge them with anybody you want. >> i'm with everybody -- >> that's rare. congress is not with us on that. >> thank you very much. and in the meantime nancy pelosi heckled at town hall while blasting president trump's tax package. the democrats strategy going into the midterms, maybe backfiring. matt guy behind cpac is going to talk about that and other things. he's next.
varney. we have a big hour coming for you. making the switch to boy owe tech to block chain. remember on october 3rd, the company called biotics and on october 4th, ride block chain, the executives announcing that they now, they want to be block chain operator and shares rose only 322% in the months that followed. some investors filed a shareholder lawsuit against the company claiming false and misleading statements. and speaking of crypto currencies, guru, could reach 25,000, he tells you what you should be buying as the fed prepares to raise the rates. cpac, plenty of issues to tackle gun control and especially nancy pelosi calling the tax plan unpatriotic, the man in charge of it all will join us, you are
watching the second hour of varney & company. ♪ ♪ charles: all right, breaking rice in and out numbers on existing homes, ashley. >> we saw a slowdown in december, continued through january, the analyzed rate 5.38 million, does miss 5.6 as people were looking for. low inventory, rising prices, it's been a story for a while now. you can throw in the rising mortgage rates and it appears at least for now to having some impact on existing housing market because we are seeing sales slow down. we should point in 2017 it was the best year for sales in 11 years. the last couple of months down 3.2 month to month and slowing down in december, so we are definitely seeing an impact, i think, of rising prices, rising mortgage prices. charles: i want to bring in
brian westberry, to a degree what ashley was talking about, the success of the home market, prices, they are out of control, the average to median prices are all-time highs and certainly seemed to have gotten ahead of themselves. >> yeah, we have fully recovered, charles from the '08 big drop in prices, however, if you look at the actual price of homes versus rent it's what was out of line that shows we had a bubble in housing. it's not so out of line today. so prices versus rent, we have inflation, asset prices and just in general the prices of goods and services i expect to continue to rise. the final thing is i think the one thing that's hurting existing homes which is what this number is today is just low invebtory. there's hardly any existing homes on the market and what that means is that builders are
really going to start kicking in to building and we saw that in housing start numbers recently, they boomed last week. charles: that obviously has been an issue. those numbers were rocketed higher and higher and new buyers. new buyer level is substantially low compare today historic norms. can we get sign that is millennials are starting to move out and into their own place? >> yeah, it's all happening. it's a little bit behind schedule at least what i thought was going to be the schedule, but people finally seems forgetting what happened in 2008-2009 and finally having more faith in the housing market. we still see strong renter markets, that's where everybody went but purchases are beginning to pick up. i think this economy is going to
be a lot stronger in the next couple of years, we will avoid a recession. i think housing still has a long way to go before -- charles: ironically the rent inflation is going faster than anything else that i can think of. >> right. charles: they really have continued to do extraordinarily well, we have five of the biggest on the board, facebook, amazon, microsoft, alphabet, apple, all higher today, brian, i will ask you and then i want to bring in jack to give us his opinion, tech, can they keep up, keep this going? >> yeah, i think they can. i mean, obviously these have run -- the fang companies as we have called them have run faster than the market as a whole. i think there's more value in some other places but doesn't mean these can't continue to run. reason is that new technology -- we live in just an amazing period of time, you know, while everybody has been
bearish over the last nine years, i mean, this isn't tech but invented and perfected fracking, invented apps, the smartphone, the iphone x, it's ten years old, this is all happened in the last ten years, it's changing our world, it's boosting productivity, it's boosting profits and efficiency and that's what drives the market in the long run and i don't see why it can't continue. charles: jack, your thoughts? obviously artificial intelligence, robots, autonomous cars, the internet of things, all of these things just now you have to say, first, second and third inning but some of the rallies have gone on a lot longer. >> as i said, we have never seen these companies this large grow this fast before. we are having to reset expectations about how large the companies can become. you believe -- this has been a long bull market. bull markets don't last forever. if you believe we are in the later stages, a couple of years, merrill lynch points out they
called techs one of the best bets right now because the companies have cash balance and don't need to finance. you would expect interest rates to move higher, it's not going to be a problem for them. if you look at factor, momentum tends to do very well in the last stages of a bull market. they think tech is set up nicely even after the run it's already had. charles: i want to call about two bearish calls in the stock market by morgan stanley, the main course is coming, brian, your thoughts? >> yeah, you know, people look at this correction as, you know, what i say, hey, you ate too much bacon and you'll have a heart attack, right, this is just heartburn it's not a heart attack. we are 103, 104 months into this recovery. it's the third longest recovery in history, the longest is 120 months, before this one is over, we will set a new record. the fed is nowhere near tight,
they have a long, long way, even if jarome powell adds two more rate hike this is year, there's still not remotely close being tight. so, i think it's a great point, companies have massive amounts of cash, higher interest rates, the more they earn on the cash. this market will still keep going. charles: another bullish call and this is ubs, the risk of recession, they are bearish, risk of recession is rising, jack, wall street chiming in like that, i don't know. i doubt that they have done actually in any trade to go reflect the new cautionary stance. >> i can tell you that recession is coming, the question is is it going to happen soon and how much am i going to make between now and then. what's going to cause investors turning away from stock is having something better to buy with money. 2.9% 10-year treasury yield is not going to do. if that were average levels
right now we would be over 5%. you have a long way to go to get back to average and between now and then rising interest rates are actually a good sign for the economy, means we are getting out of the intensive care unit and getting back to normal. charles: one thing i really love, the consumer has come to life big time and that, in fact, seems like it's having con tablous effect on a lot particularly small businesses and jpmorgan out saying this morning that american small businesses are super bullish and seem to be forward it but all of the things, brian, all of the surveys continue to say the same thing, the small business which is the engine of the economy which creates most of the jobs, they are excited as they have ever been. >> yeah, we have had a complete swing in the political pengilum, less regulation, lower tax rates, no wonder they are excited. i just think -- i want people to remember the last nine years,
how many recessions have been called and -- and what people have missed is the power of the technology that's rolling out. we've already mentioned, you've mentioned 3d printing, robotics, the smartphone, tablets, all of that. charles: let me get jack in here. he wants to chime in. >> i want to offer a little bit of pushback because i hate -- if people let politics guide investment decisions, i'm cautious, small business sentiment of numbers, let's keep in small, twice as likely to vote republicans, democrats they screw older, white, male, rural areas, if you're a republican small business owner, republicans in white house, senate, house, everywhere you look it's rainbow and roses. charles: after the rainbows and roses and hire people and start to invest and self-fulfilling prophecy. >> that's true. the taxes have been helpful for
them, i want to be careful in reading sentiment and always skews in favor of the republicans. >> i'm not going to disagree that small businesses tend to lean republicans, tax cuts are real, deregulation is real, this isn't politics but actual policy and they are seeing a better environment. charles: all right, gentlemen. r jpmorgan last $5 billion and they got fined for losing their own money. that isn't happening anymore. charles: a lot of people would like to know where hundreds of billions of dollars actually went. >> right. charles: brian, jack, thank you both very much. mcdonalds the biggest gainer, restaurant stocks, i really love, i love the chipotle move recently. a lot of people said it was knee jerk but continues to slip further and further down. there's lazy boy, shares up 11%,
again, i think it's the american consumer up 9, almost 10%. check this out, amazon jeff bezos revealing video of this massive 10,000 year clock that's being built inside a mountain in west texas, it's 500 feet tall, in award since 1989 design today tick once a year and the cocoo comes out in millennial. biotech company being sued by shareholders, the ceo is going to respond later this hour and republicans racing cash going after democrats and can the gop buck the trend and keep the house, more that he will join us and you're watching the second hour of varney & company.
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charles: let's check the big board, trying to regain equilibrium. lit a little bit before the housing numbers and a little bit before after that. the fed will speak today and that's really what the market is waiting for because you can sense a coil spring here and we can go big either way. priceline effective today and ticker will be change to go bk&g starting on the 27th, hope to go reflect that it's growth from the priceline website to six brands, i think priceline is a better name. conservative political action conference underway and nancy pelosi giving them a whole lot
to talk about. roll tape. >> what you're doing is cutting the taxes at the high end and therefore not being allowed to invest in the future, you're doing a great disservice to our country and -- charles: pelosi will hold a news conference later today on the, quote, consequences of the gop tax scam. matt schlapp, matt, what's your reaction when you sea nancy pelosi because she's digging deeper and deeper on this one? >> unpatriotic, we are un-american if you believe when you work really hard and you listen to alarm clock and you get up and work hard all day that you're unpatriotic. this is a disgraceful charge and this is -- when the american people see how radical the democrats are, nancy pelosi is that they really want to take the wealth from people who are working hard and just give it
away to everybody else, i don't think the american people are for it. >> it's politics to say, hey, you might be getting something but it's crumbs because somebody else is giving more, i think that does a disservice to anybody particularly to you point, people who are working very hard but what about this, matt, we are actually seeing a lot of things on the so-called progressive agenda, paid maternity, paid sick leave, companies are setting up educational retraining services, all because of tax cuts. >> yeah, wal-mart had a big announcement on help to people who are adopting kids, other companies are following suit in doing more on paid family leave, look, it's companies making a decision on how they want to retain the best people on their workforce and that's exactly the types of reforms we want to see. when washington dictates the reforms, it's not the right way to do it.
charles: you have the markets working pretty well and the economy firing on all cylinder and a tax cut has been extraordinarily successful. we know those are things that will be talked about and also the florida shooting is a huge deal, you have the students from parkland who caught buses yesterday and will be in tallahassee today, president trump is going to meet with survivors i think of parkland and recent shooting inced -- incidents. how does cpac strongly behind second amendment deal with this issue? >> you deal with in straightforward manner, nobody, not the nra, not anybody wants to see the horrible shootings, nobody wants to see victims of violence, it's the fact that our society is getting more violent that has me the most alarmed, it's not just about guns, tall ways in which people who want to do us harm can -- have the ability to do it and i'm also troubled by the fact that, you know, it seems like there are
darker and darker people. i think we have to reach out to them, we have a lot of soul searching to do as country. we will talk about these things on our cpac stage, i think conservatives have to be open to what's happening in society and a lot of people of faith lead the way when we are in dark times. charles: before i let you go, i was speaking of faith, matt, do i want to ask you your thought on passing of reverend billy graham. >> what a great man, he was the complemple or of what a christian leader should be. he was someone who minister to democrats, republicans, liberals because jesus had no zip code and had no party identification. it's a great loss for the country but i have a feeling he's in a much better place. charles: all right, matt schall. >> thanks, charles. charles: markets have been all over the place but we maintain gains and regaining a little more momentum to the upside. we have exciting news to report,
that not just robot taxis but flying taxis will be commercialized in five to ten years and in tokyo, the uber is aligning itself with nasa technologies there to do things like this. you know, it's really, they've got competition bearing down on it, charles, look at this, sony is hooking up potentially with softbank and toyota to do its own ride-sharing. charles: does uber want to get to a point where we don't have cars, everything we do is uber? >> yes, in other words, you call uber and robot taxis shows up in the store. charles: i predicted on the show driving will be illegal in ten years. ashley: i like driving. >> can apple really think that software for robot taxis will be enclosed ecosystem and not be open -- technology can come into the software? charles: second headquarters is
going to be, hq2.0. ashley: new site arl now.com whatever lick tong virginia website got a huge spike in visitors and when they tracked it down it was being refer today internal amazon page. so the theory being and, of course, nothing to to verify this, looks like there's 20 cities amazon is looking to create hq2, this could be the one, virginia, northern virginia, arlington, we will have to wait and see, we know that jeff bezos who runs amazon also has a washington post, he has a massive swanky house in washington, d.c. and they've ramped up in dc, amazon, all of that would lead you to believe that the area in northern virginia would be perhaps, you know, very attractive to amazon. now you have this knew site saying, hey, sudden everyone is
interested. charles: mk and partners upgraded to 1750 on amazon this morning. we have been teasing this all morning, block chain, company moved from being biotech to block chain last october, shareholders suing saying they were mislead. the ceo will respond. tom lee, market guru extraordinary say that is bitcoin is going to 25,000 by the end of this year. he's going to join us next as well. last years' ad campaign was a success for choicehotels.com badda book. badda boom.
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charles: there you go, it's beatles' time. daily dose. [laughter] >> there you go. charles: let's check the big board. we have regained, we are up as much as 23, 25, again, everyone all eyes on the fed. i really believe it's all said and done, it's going to be one of those triple digits for the dow. amazon got upgrade today, netflix got an upgrade. i want to bring in lee, what's your take here on this market, you were bullish for a long time and now felt like you weren't as bullish anymore, where do we go from here? >> we are bullish again and i think it's because business confidence remains very good, we had a nice correction, i think
it's a great chance for investors to buy markets with much more reasonable pe's and there's still a lot of demand in economy, we have to build a lot more homes, more cars to be sold and huge amount of savings, all bullish. charles: 6-day correction that's equivalent of a crash, 6-day correction, is that too good to think that would be it? >> yeah, i mean, you know, i think a lot of people are asking the question because it's short but measures of bottoms have taken place, the term structure inverted, the stock market fell by higher bonds rallied, usually that the stocks overreacted appear most bottoms have v-shapes, we should see a recovery pretty quickly and new highs within the next few months. charles: that brings us to the next questioning question, i think it's overflown, i'm shocked that all volatility and follow 2.9% wage increase for workers out there who have been begging desperately for any kind
of wage increase, but nevertheless, that's the story today, the topic is your where do you stand with the fed, do we get any clarity or certainty today? >> well, i think the fed's, the feds are rising for good reasons. wage is a positive effect. so it's good for the economy. charles: what would be the one element out there that could change your model or your forecast? >> well, i think a a recession obviously is the biggest thing to be concerned about and historically recessions happen because we have too much inventory or businesses that overspent, neither has taken place or central banks make a mistake and they're unlikely to because inflation has been absent, it's not like we -- it's pretty well anchored, i don't think it'll go away, but fed overtightens it will cause recession.
charles: jay powell considered dove or centrist/dove and people say he becomes a question mark. all of a sudden aguy with carlisle group, bad decision-making can have in the economy and stock market, all of a sudden we don't know who this person is? >> i understand the market's nervousness because they have been so comfortable with prior fed presidents, but you are exactly right, he understands markets, and i think communication remains an important tool and so we will just have to see how that plays out. charles: the market on price peaked to 1230, and we were up really big, almost 25,500, looked like we were going to make a big break and gave it all up on mueller indictments, as it turns out nothing involving the trump administration so the selloff stopped, i think it's reflective of the sort of dark cloud that's still coming out of dc beyond the federal reserve.
are you concerned about that at all? is that part of your decision-process. >> i think it's ultimately short-term noise, i don't think it changes the path of the future, we still have tax cuts, global growth, the world is doing pretty well and unemployment is low so i don't think the clouds of washington are going to effect the story. charles: do me a favor, stay right there, i want to change right now just a little bit and talk about riot block chain, the company was called biotic and overnight they changed the name to riot block chain. this comes off the highs certainly but up huge and now there's shareholders who are actually seeing saying that the company made, quote, misleading statements about the business. i want to bring in the ceo john. , john, a lot of companies have changing names, a lot of companies have gone from making positive to being in block chain business overnight and it's done wonders if the stocks but people
are concerned, how do you explain to these shareholders who are concerned, how do you explain to other folks who are watching the crypto currency madness wanting to get in but not sure everything is on the up and up? >> sure, i think a common misconception as it relates specifically to riot black chain is that we were one of those looking to capitalize on the hyperon the sector, the reality is, we have evaluated many different opportunities including the blockchain sector, the investment that presented itself and was the driving force for our decision to enter this space was in a company called coin scare which is -- coin square which is the leading exchange in canada in which we own a sizable stake and we are up a 15 fold. we had no idea what the market reaction was going to be, we
knew and recognized that there was a growing appetite from investors looking to get exposure to the sector and ultimately part of thesis was that we could provide investors a way to get exposure to technology movement with a nasdaq listed and fully sec reporting company. charles: yeah, although, i guess investors could invest in canadian company that you referenced there and have direct investment. what happened to your core business, what are you doing there and what are you doing to flush out the portfolio of holdings or other, you know, organic abilities to deliver on block chain? >> sure, so first off, coin square is a private company, many companies in the industry are private not allowing traditional access to investors. separately, our internal focus operationally is on growing out our crypto currency mining operation which is rapidly
expanding. that's been our focus, we see that as a great leverage way to accumulate bitcoin strategically. we have a vision where it's heading and bitcoin mining operations are providing us leverage way to get that exposure. charles: now, are you making investments in sort of machines, we know that you need very powerful computers to do this, strong source of power supply to be able to do that, do you have the funds to continue to make investments to really be a real players and minding the bitcoins successfully? >> absolutely. we recently raised $37 million. several notable institutions participated in that financing, well capitalized and you're absolutely right about the power needed to run these crypto currency mining operations. our focal point has been securing as much lost sos efficient energy as we can. we are looking at that from a global standpoint and ultimately
today we own 100% of 8,000 -- eight crypto currency miners, up and running, we should be generating over 100peta hash of hashing power which is a pretty sizable number. charles: john, before i let you go and i know you can't speak specifically to lawsuit but viewers who are watching and want to have access to bitcoin/block cane, what do you tell them because the ico, coin offerings are getting a bad name 15rbgs hundred crypto currencies and venezuela got into the game this week. i mean, it seems like the tool of things on steroids even though i personally think there's legitimacy to notion of crypto currency, how do you sway people's fears? >> unfortunately with any new technology that has a lot of
hype around it such as bitcoin and block chain technology, unfortunately it does attract bad actors looking to capitalize on that. i think that's the focal point of sec chairman and john carlo, they want to make sure that investors have adequate protection that is they deserve from the bad actors. ultimately in the testimony they give a couple of weeks ago, they did also say that they do not want to hamper the growth of the disruptive technology, they compared it to the internet in that sense. i think that is very encouraging for the sector but ultimately investors need to have adequate protections or, you know, in full favor of that and, you know, i don't think it's a question or more less regulation necessarily, it's about continuing to lay out the proper framework for companies to follow. charles: john, appreciate it. >> thank you. charles: tom lee is still was, i want to get your reaction to riot black chain first.
>> well, if i had to say where there's a place for businesses to be involved with crypto currencies to attract exchange or be involved with exchange or mining u so i'm not making endorsement of what riot is doing, i think those are actually attractive place where is business capital makes a lot of sense. charles: you recently said that bitcoin itself will turn to glory days to have summer, we know it went from a thousand to almost 20,000, pulled back, gave 50% correction, retracement, if you will, but you think it's going to go now resume its move back to the upside. >> that's right. i think part of the fall to 20 to 6,000 is because there's just -- wall street was supposed to come in bitcoin and it hasn't and there's a lot of regulatory obstacles and reputation issues. charles: do we want wall street in bitcoin? do we want the traditional players in this, you know, because they'll be on both sides of this? >> yeah. charles: if you're a bitcoin person you like the idea that
you hope government ultimately can't mess around with it and it's not a fiat currency but also the establishments, many people think that it's a danger to wall street. block chain technologies, why would they help it, why wouldn't they sabotage it? >> that's right. part want slow progress but a lot see opportunity. i agree, millennials are really the driving force behind what's happening with bitcoin adoption. they recognize digital money is the future. it's a lot safer to store money digitally than to leave somewhere where hacker can steal it. outside the u.s., i think trust as you mentioned is quite low in government and in banking system, bitcoin is much larger outside the u.s. charles: have you seen ratings of congress lately in trust ain't that high. [laughter] >> thank you. charles: great seeing you. republican raising number of cash and going after red state democrats, would the gop
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ashley: in the last hour jack told us interest rates are rising and that's creating a different playing field for equities. roll tape. >> i looked at the four peaks in the market, we are at 12% on the yield, 12% yield once and 8% yield and market crashed yields were 4 and a half percent and going down, by the way, why is 4% enough to derail the market where the underlying economy is so strong? >> i think a lot of it, charles, is the fact that this tug of war that's been going on between stocks and bonds over the last ten years is that the fed has tide one arm behind the bond's back and that's because interest rates are too low for economic conditions thanks to all the
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maccallum. martha, can they possibly buck the trend, comments losing the house and senate in midterms? >> we will see. the money is just one measure and they are outpacing democrats by a few million dollars in each category, when you look at rnc and dnc numbers and when you look at democratic and republican congressional numbers, republicans are quite aware of how much is at stake. if they lose the house, they will find some way to bring back impeachment hearings, whether or not serious efforts, it makes things difficult clearly. they sort of learn today use their majority with tax reform and i think that they are getting signals that that is obviously working for them and working for them with independent voters as well. the stakes are very high and they're committed, we will see. too far out to say. charles: they need this money. >> absolutely. charles: special election in
pennsylvania, republican polling in single digits, touring a ton of money and so far the dems have not even though that would be an amazing win for them? >> it would, i question the whole money thing, when you look back at primaries in 2016 and when you see what happened in new hampshire when jeb bush threw hundreds of millions of dollars and didn't work. i think there's a change in dynamic in terms of social media and how people get their information that might change the money equation a little bit, it'll be interesting to see how much money matters in races. pennsylvania is clearly a place to watch. you have four districts now that have been changed during the gerrymander rules which are negative for republicans, that's going to be uphill battle. charles: another one for you, north dakota congressman kevin challenging heidi heitkamp. listen what he said. >> somebody who supported repealing and replacing
obamacare with patient-centric plan and she was the deciding vote in not passing the bill in the senate. i supported tax cuts that are wildly popular and proven to be very, very favorable to the economy, to job's creation, she, of course, voted against those. i opposed sanctuary cities, last week she declined. >> these are going to be really interesting races to watch, where, you know, states where president trump won and you have a democrat who is trying to sort of ride the fence a little bit, cramer is interesting, a month ago cramer said it was no way, the president talk today him and said i will call your wife, something happened over the last month and that something, maybe the numbers that we have seen moving because of tax reform. charles: good point. the wild card with tax reform
polling so well and people making much more money keeping it and no democrats voted for it. essentially they went with nancy pelosi, the argument against the american public, that's a strong argument they can make. >> absolutely. absolutely. charles: thank you very much. >> thank you, charles, good to see you. charles: the white house trying to get the private sector in space race. a space station that could be ready to launch in 2021 and could host tourists. hi i'm joan lunden.
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ashley: mike pence and members of the trump administration are attending the conference in space center. phil, i understand this is the first totally commercial space station ever. >> it certainly will be once it's launched and orbiting our little planet called earth. it is the first low orbiting space station, that means nasa and global space partners will no longer be the only space game
in low earth orbit and space station the size of this one could actually house 36 people living inside of it in space doing research or working or watching some entertainment. aerospace announced creation of new company as well bigalow to spend millions this years investigating how big a market is out there for big b-30 space stations. could stand alone in low orbit or go to the moon or beyond. unlike the international space station which was put together one module at the time, they would launch on single rocket like spacex falcon heavy, for example, expand or inflate while in space, once it gets there and the habitat which is already on space station a good point on how that works, take a listen. >> you have to include foreign national, foreign countries and
the corporate world foreign and domestic and i think they are doing a lot of things to do with research, scientific research. >> and as robert, the founder and ceo of the company, he showed us inside these space stations and the olympus far larger than what astronauts have been used to up in space, those aluminum cans also known as modules, these have so much more room. four levels tall just olympus, sweeping and research and bigelo work says it has two of b-330's ready to launch. china also wants to put space station out there and targeting the same market of big-spending companies as well as countries that can actually support something like this. ashley: thank you very much, fascinating stuff. i wonder what they rent for the week out of interest, fascinating stuff.
charles: good morning, 90 minutes into the trading session, near the highs of the morning but more volatility on the horizon and we are asking the question, one day after calling for a ban on bump stocks donald trump will meet with students and teachers from park to the land, florida, even other recent shooting locations. the communications director is going to join us on that and the shooting in florida revealed serious flaws with fbi tip line. now the agency is investigating its own operations. we will ask the judge, one more example of failure of federal bureaucracy and the trump administration clearing the way for cheaper short-term health insurance plans, another alternative to obamacare, this
-- california at it again. mandatory fines of $900, wastewater. the third hour of varney right now. checking the big board, dow 30, a new majority hire, united technology, jpmorgan and mcdonald's leading the way, walmart continues to suffer, it's worst sessions in two decades and the selling continues. it is the number of a lot of folks are looking for, and the coiled spring, bring in brian payne. a great last name. the market, let's talk about this. huge down we, huge up we, anxiety, and in the meantime,
stronger consumer sentiment, stronger spending, great earnings and guidance. >> we are in a bull market, economy on all four cylinders. a little inflation is good. the reality is that is a good sign. charles: when is it not a good sign. a lot of folks who have been around long enough it is a four letter words, and we love when the baseball card collection is worth more. there are good points to it but also downfall. >> the slowest growing economies of all time and suddenly the tortoise doesn't turn into a rocketship overnight. we are talking inflation in the late 70s and early 80s, this fear we are going to go into an inflationary period is overdone because it will take a while
for the economy to heat up like that. charles: on that note, an economist saying the risk of the recession is material and rising, and some pretty well-known smart friends talking recession. >> we are in a synchronized global growing economy, wages going up a little bit, earnings should double, double digit, very bullish signs if you look at it historically. i'm hard-pressed to see that. it is some sort of recess or something. charles: what about this newfound volatility? last year was the most perfect year, the market was up, people woke up and the screen was green. >> we are capable of going back
to normal volatility. every 12 months in the market, now we are going back to a more normal volatility in the market. charles: the numbers are shocking because percentage is in historic norms. and and if your long-term investor you can get over. >> it was deceptive in the sense that they were a handful of names that carry the load and once you dig underneath and look at the breath of the market. many stocks up fractionally. something besides technology to lead this micro participate? >> if you look at the emerging markets as a whole, they outperform the us market and -- charles: amazons and apples and facebooks carry everything and as we filtered down is in a
good sign other stocks weren't up 20% for the year? >> absolutely, there are bargains to be had. jpmorgan is a great example. they trade 12 times future earnings, the s&p 17 times and if we are going into an inflationary period and about banking stocks people do more lending and borrowing and if interest rates are going up the fed may increase interest rates three times this year, net interest margin goes up as well. charles: i like jpmorgan but these banks underperformed. they were supposed to rocket when the fed raised rates. that didn't happen. a short period in december, for the most part they have been a disappointment. how do they operate? is a too much reliance on trading than old-school lending? >> goes back to old-school lending.
in the late 90s, when it went to growth stocks, they got burned and more boring value oriented companies outperforming for a whole decade. charles: you go beyond the income statement and balance sheets there is a political*on this, are you comfortable with this company owning the stock? >> globalization, think about commodity prices going up, bigger demand for commodities, these are good things, stocks trading cheap, europe added 13 times future earnings for the stock, the s&p, 17 times and -- charles: a special risk associated. >> that is priced into the stock, looking at inflationary global environment we are in. charles: really appreciate it. now there is this, nancy pelosi calling the tax-cut bill unpatriotic. watch this. >> what you are doing is
cutting taxes at the high end and not being allowed to invest in the future you are doing a grave disservice to our country. charles: john mclaughlin of mclaughlin and associates, the guy donald trump tweeted about over the weekend. are democrats shooting themselves in the foot? these gaffes are extraordinary in my mind, every day we see more people benefiting from these tax-cut either in their own paychecks or through bonuses and other things and continue to disparage them. >> they absolutely are. when we pulled, the only pollsters in the country who asked do you approve or disapprove of donald trump's plan to cut taxes and the majority of americans, 56% did and only a third of the voters opposed it and it held steady
in december as democrats attacked us. even the new york times in their poll the only time a colony tax-cut is when they say it is a tax cut for the rich in media polls but the new york times polled do they approve or disapprove of donald trump's plan for tax reform? won't holiday tax-cut. the majority of americans say they support that. the majority of americans think the economy is getting better, 56-32. donald trump's job approval is and i 40s, 46 to 52, he gets 51%, democrats can't stop him. the generic politico, with the president was referring to, politico paul had the republicans of 39-38, we were down-6 in november, behind by 3 the week before the political poll and now we are up one in their poll. numbers are moving, the president's plan moving voters.
charles: handicap for us, gop ability to keep the house and senate in the midterms. >> we have a long way to go but we can do it. the fact of the matter is the substance and policies. and every democrat voted against those tax cuts americans now feel are making their economy better. and the president's state of the union says that 46% people that watched it 75% approved of what he said including 43% of the democrats. of policies are moving us forward, workfare, infrastructure, they want congress to vote on these things and pass them in the president scores high points on security. charles: thank you very much, appreciate it. putting the phone away could land your family a discount on your next vacation, a program that gives traveling families a
5% discount in exchange for locking their phones away. the offer available starting friday and tony bennett may have left his heart in san francisco but a new survey finds people are leaving their garbage there instead. a horrific scene of a street and the riddled with cash, needles and more. more coming up. appleby plugging dozens of restaurants as millennial's dig the chain. up next we ask the ceo of fat burger how he is making sure companies keep coming back to his store. you are watching the third hour of "varney and company". ♪ [fbi agent] you're a brave man, mr. stevens. your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible. [hero] i'll take my chances.
shortage caused 600 stores to close. authorities telling people there lack of chicken is not a police matter. says who? to applebee's, closing several stores after a failed attempt to win over millennials. andy winehorn, a pretty good day yesterday and today in the stock market but underlying issues include these established franchises getting millennials on board. can you hear me? >> i can hear you. it is too late to make some of those shifts. when you spend that much money to build those stores and close them you are playing catch-up and that is hard to do. charles: how is fat burger? my son is 21, into healthy stuff, always cooking with fresh ingredients. how do you attract that kind of
customer, the younger customer? >> you have to innovate and pay attention to what your customers want. we introduced the impossible burger a few months ago in a few locations in los angeles. it is a plant-based protein that is vegan or vegetarian but tastes like beef and bleeds like beef but has great flavor and to have that healthier option, low in calories, very lean, all plant-based, that is how you respond and interestingly enough for the millennial crowd the price elasticity is high, they will pay for the product. costs more to make the product come a dollar or $9 burger and customers will pay for it. charles: we put a picture, regular ground beef burger looks absolutely delicious, the same kids that take uber everywhere. if you ask for medium burger,
your business is growing, you filed for an ipo but it is a crowded space, one of these things where we look at chipotle shaking things up and have a new ceo. when these companies, to poley or yours start to go outside their wheelhouse, what are the inherent dangers of that? >> you got to pay attention to it, your core items are what customers want. i don't think anyone is coming to to poley for qr. it will not move the needle in a material way. if you add healthy options or later menu options to include everybody whether it is a vegetarian product or chicken product, that is to round everyone out and give people what they want so people don't say i want to go somewhere else. from to poley's standpoint it takes a long process to build
customer confidence and you lose it quickly and it will be a long road to recovery. charles: the state of the consumer, the trends every day between traffic and volume and willingness to pay more money, what would you say, where are we? >> the concept that figured out how to innovate and add delivery, same-store sales increases in california and positive same-store sales increase across the us, nine years in a row of increases. the double digit numbers last year, this year driven by delivery so customers want the product, applebee's shouldn't be delivering to homes, they shouldn't make a customer pick it up or only needed in the restaurant. people like the food, they want the convenience of having it delivered.
we have been using all those services for a couple years and it is moving the needle for us. charles: fat burger is legendary. going beyond the 200 stores rapidly, thanks and congratulations. there is a new report that finds the military facing a recruiting shortage. the paperwork says 71% of americans age 17 to 24 don't meet standards to investment due to obesity and criminal background, lack of education. this report comes just after the prisoners increased defense spending and calling for 16,000 additional troops, that is over the congressional authorized troop level. the price of oil, we haven't done that this morning a relatively flat but a new forecast says demand for oil will hit a record number by late 2030. that goes up despite alternatives, expect global demand to plateau around that
time due to the rise of electric cars and trucks. the price of gold hanging in the $13,300, not doing much today, hit hard as the dollar regained strength. then there is dunkin' donuts warning customers of a scam online, the company says to be on the lookout for fake coupons that offer freeport -- people 3 boxes of donuts to celebrate its anniversary, scammers are trying to get your personal information in the trump administration bringing down health insurance costs, a new short-term alternative to obamacare, we have the ceo weighing in on that and chinese officials are furious after someone vandalized the 2000-year-old terra-cotta memorial on loan to a us museum, those details next. [ phone rings ] hi, tom.
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and stole the them. the 2000-year-old stages are considered one of the 20th centuries most extreme important archaeological finds. the doors are open at the world's tallest hotel in dubai, the famous dubai towers over the financial district, 1168 feet high, boasts 528 rooms, luxurious health club and five malicious restaurants. give your home a square with disney's new-home store. it opened last weekend is chock-full of disney themed items like kitchen goods, linens and so much more in an effort to make the disneyland resort a 1-stop shopping spot. holy guacamole, people are proposing with avocados instead of ring boxes. photos making the rounds on social media, guys popping the question with their ring tucked
where the avocado it should be. others think it makes the jewelry too smallishy. a few hours from now donald trump will meet with students and teachers affected by school shootings including those from parkland florida and sandy hook. we will ask what we can expect from that meeting. a check of the big board, the dow is up 100 points, holding up all day long after yesterday's selloff. we did the release of the january fed minutes and that should bring clarity on the interest rate debate. more details on that next. ♪
charles: nearing session highs, market hanging in really well. a big thing today is the dow staying above 25,000. important particularly after yesterday's session where we sold into the close was one big issue rising interest rates and today we get the fed releasing their january minutes, expected to reveal how many rate hikes we could use this year, you
think perhaps these minutes can bring more certainty to the market because all of a sudden there is a big question not just over the fed but who jay powell is, is he a hock, what do you think? >> he is more hawkish than janet yellen but he knows he has got to go slow. there will be a hike in my opinion in march is that is virtually certain. beyond that it is a cliché but depends on the data. we will see what the data looks like in the summer and fall. a couple more moves after that but he strikes me as someone who is not going to overdo it. charles: we have to model this for the whole year, we assume a certain growth, wall street in general thinks revenues are going to be significant, earnings, another strong year for that. three rate hikes so awful that it would derail the stock
market rally? >> i don't think so. if the rate hikes are because the economy is getting stronger that is a good thing. if rate hikes are because inflation is starting to erupt, that is a bad thing. i don't see any sign yet, expectations creep up during the year but this inflation is overdone, pretty -- stuart: in the markets, the item stands out for 2.9% year-over-year wage growth, pull up a 5 or 10 year chart, that is one of the slowest annual increases in a long time, regular people wonder what wall street is worried about. >> there is nothing wrong with wages going up. it puts more money in people's pockets along with the tax-cut so you get more disposable income, there is a good thing but when it comes to the inflationary stuff the fed
would worry about i don't see it. maybe by the end of the year we will worry about it but because inflation is still moderate, the fed's rate hikes will be moderate. charles: a new tally shows these banks find a staggering $243 billion since the financial crisis erupted. >> i would like to find out where all that money is going to go. some go to states and the federal government but what will it be used for? you could make a case that despite these enormous fines bad behavior does persist and wells fargo is the poster child for bad behavior but across the board the regulations have not curb these banks from doing that warrant getting find. charles: piggyback on the point you brought up, they take this money from banks in the name of
customers. you have come to the rescue, what happened? >> we were talking about that. i am a customer at a couple banks that have been mentioned, we haven't gotten the time of it. charles: we appreciate you taking the time. donald trump will be talking with students and teachers this afternoon, some from parkland and some from sandy hook, the push to ban bump stocks and perhaps increase background checks. want to bring in the senior communications advisor mercedes shellac. what are your thoughts on this? a lot of anticipation over the meeting and subsequent decisions on this. >> the president is taking the time to listen to the students and teachers and those who have experienced tragedy based on school shootings at the president is taking a leadership role on this, to
make sure every american child is safe and feel safe in their schools. this is an opportunity for the president to listen and get input from these students and parents as well as tomorrow when he will speak with law enforcement officials and education officials to figure out the best practices in ensuring our schools i safe. we don't want the tragedy to happen again, there are a lot of failures at local, state and federal level so when you have local police officers knowing they will reach 39 times, people were seeing things and saying things and it wasn't getting the job done and this president wants to make sure we fix this problem and that is why you are seeing the president take this time to get the input that he needs to develop a strong policy and strategy on school safety.
charles: as you are speaking we are sharing a split screen with the audience of life protests in tallahassee, some of the park land students boarded buses and will be there today with others who joined us as well. when donald trump waited on the shooting he talked about the mental health issue which is obviously glaring and all the times the ball was fumbled on this the media focused on the fact he didn't mention the word guns. it is starting to feel he may take some action on guns or gun-control that normal or past republican presidents wouldn't have taken. can you give us any insight? >> this president will continue to protect second amendment rights of law-abiding citizens, that being said all guns should not be in the hands of certain people and that includes individuals who are a danger to themselves or society. mental health is one of these important priorities of this administration. department of health and human
services launched a serious mental illness coordinating committee where they brought in federal government officials and experts to address the issue of mental health. that is one of the key components as well as including background checks. there is a gap between military and law-enforcement system. we need to assure that when there is a problem, someone not in possession of a gun because they are in danger to themselves or society, they are able to step up and talk to law enforcement about it and we get it done so we avoid these tragedies the we saw and for the president this is the moment he is grieving with the community and he wants to ensure they have a voice at the table. charles: in the past images of
children being slaughtered or under this kind of duress, moved the president to change positions on poverty and he is taking this seriously. i have 30 seconds left and i want to ask your thoughts on the passing of billy graham. >> billy graham was a great american, just a great religious figure who changed the lives of millions, and advisor to past presidents. donald trump mourns the passing of billy graham. there was no one like him and we send our condolences to the graham family and god bless them and the legacy he left in american history. charles: great seeing you, thank you very much, the trump administration floating an idea to reverse obama era limit on short-term health insurance plans, democrats are fuming over the idea but my next guest
is a huge fan. tell us why. >> a great day for consumers. they have more choice, more affordable health insurance. charles: why did the obamacare plan and democrats think this was a bad idea in the first place? in a capitalist society more choices mean better quality and lower prices. >> absolutely right about that, insurance costs 25% as well as full aca compliance obamacare plan. for many of our customers over half, they can't afford it so short-term, limiting the short-term to 90 days was hard on consumers. charles: if this plan goes into effect can you sort of give us a portrait how it would actually impact a typical person out there particularly younger folks having trouble,
forced to take plans they did not have coverage, how could this impact their lives? >> this should help the population get insured. this is the problem for the marketplace, heavily uninsured, they don't need all the insurance obamacare, they opted out of the insurance market. typical short-term plan cost $110 a month, well within the budget of most young working americans so we this will increase the total number of people insured. the problem with obamacare, 12 million people have gotten in short, 28 million americans are going uninsured today. charles: a lot of that is medicare and it is sort of deceptive, not what we were promised but when you go into the details, what it was going to deliver.
gerri: i am gerri willis from the floor of the new york stock exchange with your foxbusiness brief. amazon might have accidentally linked the location of its new headquarters, arlington, virginia. unusual spike in traffic to a dissemble article explaining how arlington county was the first in the us selected for an environmental award. they will look into it if there is a spike in clicks related from an internal amazon site, amazon plans to bring 50,000 jobs, a total of $5 billion in investments to the local economy. looking at shares of amazon they are up, don't go anywhere. more foxbusiness coming up.
cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ charles: the supreme court struck down a challenge to the 10 day waiting period for gun purchases, the second-longest in the nation, they claim the gun was on constitutional for those with concealed carry licenses, the decision comes less then a week after the deadly mass shooting. california wants to cut down on water wasters, the proposal to make water bands permanent, residents could face hefty fines, nationally syndicated
host larry elder. to fill up a canteen and make do with that the whole week. >> a couple things to keep in mind, the first is this is a state that is run by democrats, democrats have a supermajority in both chambers of the legislature, assembly and senate, there isn't a single republican elected statewide in the state of california. the second thing you have to understand is god makes droughts, man makes shortages. in california we got a lot of people on the left doing stupid things with taxpayer money. they are not spending money on infrastructure they need to spend, they are spending money on a bullet train they don't need and we are not building the reservoirs the kind of desalinization plants that out to be built because we are spending money on pensions for government workers, we don't have the money to do the kind of things that ought to be done
in california. >> charles: impacted by drilling for water and things like that, this is a serious issue. what i don't like is when they have gone with these temporary bands and find you see these rich folks, billionaires watering lawns the size of a football field and regular people wonder how they will make it through the day. >> water needed crop and should not be grown here. farmers getting subsidies for doing it. water are to be allocated by fair market principles. it is not being done. we ought to be constructing desalinization plant like have done in israel. it is tax, spend, regulate. ceo magazine rated california the worst place to do business. for every year they have been in business, that is why we have this so-called shortage, it is created by politics, not
created by god. charles: i saw this yesterday, the los angeles skid row with 20,000 people, bay area survey finds the streets of san francisco literally littered with hazardous waste including dozens of hypodermic used needles scattered across one block. and ugly horrific scene. this is one of the richest cities in america. how does it happen? >> one more time, you encourage slovenly behavior you will get more of it. california, la, the bay area, very homeless friendly cities. in the bay area they were giving vouchers to homeless people and as a result having more homeless people coming here. people are going to need to be helped. the question is do you want to make it comfortable for homeless people, comfortable for people that need help or do
you want people who need help to go to places like salvation army, united way and get the help they need to change around their behavior, instead what we are doing is giving aid to homeless people no questions asked and having more homeless people in california plus the weather is nice so a lot of people coming here and staying, california is a sanctuary state. it is to state that welcomes homelessness. charles: the bifurcation, you see where these companies are setting up in places like silicon valley, massive headquarters out in the woods and they are huge canvases, they get private buses that take them there and they play off their guilt by suggesting universal basic income, we never have to live with them or look at them. >> a growing gap between the rich and the poor, growing gap because of illegal immigration, taking away a lot of jobs for unskilled people living in the city and you are finding a big
spread between people who are very wealthy living in silicon valley, bay area and the west side of la and the rest of california and it is crazy, it is insane. charles: we appreciate it. this network is down after a revenue miss him a the fifth straight quarter of a revenue miss. speaking of a company under pressure, lending club, hot and exciting when it came up but never executed, that stock down 7% with a weak outlook. the fbi launching a probe into its own tip line after agents failed to follow up on a tip about the florida shooting, school shooter. judge andrew napolitano will give his take on that next. td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell?
charles: having a bad day? you are not alone. the average american spends 60 days a year stressed out or upset or just cranky. most blame work-related stress, some say a bad night at sleep and some say sickness moves the fbi heavily criticized after it failed to follow up on a credible tip about the admitted
florida school shooter nikolas cruz. they are looking into their own operations. judge andrew napolitano is here. how did the fbi become such a bureaucratic mess? judge napolitano: i wish i knew how it happened. the site is can the fbi investigate itself? the call center is in west virginia, it is relatively new. it used to be fbi headquarters in washington dc were fbi management was more familiar with the way it is working. how these calls never made their way to the miami bureau and the parkland police i don't know between 2 areas have to be investigated. one is the bail bondsman in mississippi just surfing the web one day and sees this thing, but into one, i want to be a professional school shooter. the fbi visits him three times. all they had to do was put this name into the computer. they are seven human beings in america with name, seven phone calls, all they had to make, local police departments would have tipped off the one where
this guy lived. the other is the more detailed, more persistent, more accurate complaint in west virginia that seems to have gotten into a black hole. charles: right after this happened i googled fbi blows a, articles going back to pearl harbor. we thought after 9/11 there would >>s, we hear about communication changes, this was such an egregious disappointing letdown, hard to believe they can get their act together. judge napolitano: there was a time the fbi controlled the government rather than the president controlling the fbi, the j edgar hoover years. that is not the case now. we now have a president who would not hesitate to fire the director. charles: they were more efficient back in? judge napolitano: no, they were more powerful than. any blunders they made they would cover up. now their blunders are more
apparent. it needs significant reform. i am a fan of the average fbi agents, the people who put their lives on the line on the field, but it has gotten so big and so unwieldy that things like this can slip through the cracks. charles: remember the show fbi? we looked up to them among friends in the fbi our agents and i gave a speech at headquarters in new york and we love them but something has gone on. judge napolitano: some think it is a propaganda effort put out by j edgar hoover because hoover picked efraim to be the paradigm fbi agent. charles: hope we can get back to believing and trusting them again. judge napolitano: and they investigate themselves? i am not sure they can. if they can't, congress ought to do it. charles: some individual stocks, walmart got hammered yesterday and getting
bludgeoned again today, the worst session in 20 years, tough problems with the company online. almost all firms downgraded the stock. we want to check big tech because it is the exact opposite. we have been following them on "varney and company," all the names we highlight are up significantly. more varney after this. ♪ to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today.
right hotel for you at the lowest price. saving you up to 30%! you'll be bathing in savings! tripadvisor. check the latest reviews and lowest prices. charles: today the white house issues its own economic report. we know jobs will be at the top of that. we had a phenomenal year in jobs but more specifically manufacturing jobs 204,000 of them today. economic data, mixed numbers on the headlines, internally they all point to the same thing. we have extraordinarily strong connie. even if the existing home sales they were hampered by a lack of homes. not necessarily lack of people
wanting to buy them, we simply don't have the supply. the irony the 10-year-year-old is creeping higher and stocks are creeping higher. can they coexist. neil cavuto, take it away. neil: you're right. you don't see that often. something has to give. charles, thank you very much. maybe we'll get the first hint what the federal reserve was thinking at its last shindig when janet yellen was running things. what they were making and what the fed collectively was thinking regarding interest rates. the prevail view we'll probably see more interest rate hikes this year otherwise have been the case. no way of knowing for sure. what we do know, the white house focused on economic matters and again week after the shootings in florida, what to do to prevent them right now. he will be meeting with teachers and students directly affected at that school, elsewhere. parents of those who lost children in p