tv Varney Company FOX Business February 28, 2018 9:00am-12:00pm EST
>> great panel today thank you, great to see you. >> thanks for having me. great show. we will see you tomorrow everybody. here's "varney & company" stuart other to you. >> good morning maria, everyone everyone, the state of california is revolt. the trump administration is having none of it. it is a legal and constitutional standoff. what to do with illegal immigrants especially criminal illegal immigrants? here's the news. in the last 48 hour in northern california, immigration officials have arrested 150 illegals half of them with criminal convictions. several have convictions for assault with a deadly weapon. one had been deported to mexico eight times. earlier, i.c.e. agents arrested 212 illegals in the los angeles area. 88% of them convicted criminals
including offenses connected to weapons charges, and child sex crimes. the state of california tries to protect them. refusing to cooperate with federal officials. the mayor of okay land actually gave advance warning claiming our community is safer when families stay together. really? people are safer when the government protects sex offender and dangerous people with guns that is nonsense surely after florida local authorities should be doing all they can to get guns out of handle of bad people. but in california, they shield them from arrest. the acting director of i.c.e. told fox this morning, there is still 800 criminal illegals on the loose because of those warnings. this is all about the democrats dominance of california and their reliance on historic vote as you've heard on this program california is making it much easier for illegals to vote. a electoral system that is impossible to police and where
there is no penalty at all for illegal vote it is guaranteed to infect future presidential elections. on the employment front, california continues to protect it legals and attorney general at the state with warns employers you're fined up to 10,000 to tell the status of any of your workers. here's the bottom line. elected officials in california are protecting illegals at the expense of american citizens. california gets away with it because democrats dominate the state and they enjoy maximum support from hispanics. the intent to keep it that way. the ball is in trump administration court fortunately they're not backing down. we'll get to where are money in a moment. "varney & company" is about to begin.
here is the money going to open a little bit higher this morning remember we have a 300 point selloff yesterday looking to go up 70 for the dow 6 on the s&p, and maybe 20 odd points for the nasdaq composite. low lowes improvement going down and not up to expectations as they say and stock is down 8% that's premarket a big drop for low lohse. we never forget amazon on this program you never can holding above 1500 a share and going to spend wait for it a billion dollars for that high-tech doorbell maker ring. okay we've got more on that i promise coming up. staying on jack with wealth advisors, all right jack does the strength we're seeing in economy justify our viewers putting more money into stocks right now? >> i say nope. and the reason is -- we're running hot which is
great. but we're running ahead of potential growth rate right now which means we at some point the fed does have to come in and pull things back. >> okay well you're telling me that profits looking down the road are not high enough not strong enough to justify another leg up for the stock market? >> well, no. you said economic growth. what we've got is a essentially administration that's trying to beat a 2% into a 2% three horse what we need is to actually upgrid our potential growth rate which was -- essentially a combination of labor force growth which is right now 0.7 and product arivety which is really key thing that chairman powell was talking about yesterday. right now a 1.5. if we could get that 1.5 productivity up to 2.5 i would say 3% growth from here to the --
horizon but right now when you're running a 3% economy in a 2% capacity, you're going to, start running out of capacity spare capacity in labor and in -- the production. that's going to create some inflation. >> you're a powerful guy on wall street a lot of people follow what you've got to say are you telling them to sell? >> no. so what we're doing is -- certainly those clients that gown wants to get in on sidelines and able to get clients in in early downdrafts in february. i'm still holding the position it is that we have. i'm not necessarily looking that, you know, we're going to fall -- eminently, but one of the things that's a little bit concerning is that, you know, we are going to eventually see some fed restraint you know keep in mind if you look at the bernanke tenure i would call that pacification he had to make sure that investors were -- not ready to jump out of window.
then we pass the baton to yellen which i would call her -- tenure accommodation now under powell is normalization so ten year treasury is 2 % historically if you look at where tenure should be. it should be at least 4% so i like to see it get back to that 4 pblght and say coast is clear we can get back in. >> okay. dangerous stuff there by the way while you've been talking the dow has gone from a gain of -- 50, 60 points to gain of 80 points maybe they're not listening to you maybe not. >> i think, i think they're all watching your show stuart. >> flattery the mothers milk of television well done young man you can come back any time you like. he what is to be right. don't mock these guys right thank you jack see you soon. now big gun retailoring dicks supporting goods going to stop selling assault style rifles?
>> direct response to florida shooting effective immediately toking sales also no more high capacity magazines will be sold no gun sales to anyone under the age it have 21 regardless of the local laws. the ceo o dick sporting kids say we love these kids and rallying cry it got to us. we can be brave enough to stand up with them so effective immediately. >> okay. all right thanks ash. i'll bring in fox news contributor lisa booth necks to me here in new york. look lisa i think that is a private company and -- a publicly trade xan but a business organization. i think they have every right to set their own policy for what they sell and who they sell it to. i have no problem with that at all. unlike other areas of the boycott nra and the anti-free speech movement. >> right. i think they have the right to
make a decision just as you mentioned. but i also think some of the the companies particularly ones that are boycotting -- the nra i think some of these companies have to be prepared for what that backlash could bring. i also think that -- the individuals who are making in this country that are making it about the nra are trying to lay this mass shooting a defeat of the nra are unserious about actually getting anything done in this country to have -- to prevent future shootings. because they're making it political. and by doing so they're making it impossible to have reasonable conversations in this country that could lead to actual solutions. >> there's no -- hard to get the middle ground isn't it? that's the deal? >> because threpght to make this political instead of actually having serious conversations and most infuriating part about all of this is you have individuals like sheriff scott israel who are trying to use the nra as a shield from the mistakes that he made and sheriff department made. by going after the nra trying to
project his own culpability in failing to stop that mass shooting and missing sign after sign and his deputy standing outside while innocent children were getting killed trying to put this on the nra when he's the one that bears responsible in failing to do his job. >> would you agree with the following statement -- >> maybe. [laughter] my statement. my opinion. >> we would like to stop these assault -- we would luke to stop automatic rifle it is getting into the hands of unbalanced 19-year-olds. and so far we don't know how to do it. >> i don't know why you have to specify age 19 when we with saw with the -- shootser in las vegas but you see what happened in las vegas he was older than 19 years old so i don't necessarily think there's an age specific thing. but inwe need to figure out kulg culturally why we're seeing a rise and what is is thriving
these individuals to feel so isolated and to commit these sort of horrific acts? i think we need to be serious about what is -- wrong culturally with -- >> we don't have an answer, and a nobody wants to have that conversation. i think yes we can talk about -- you know things like ramping up or encouraging states and federal agencies to submit information the next database there's things to discuss. but we also have to get at the root problem which is what is driving these individuals to commit these heinous acts it seems like they're happening more frequently you go become to columbine and worst 15 mass shootings something like that have happened since columbine so seeing increase in these attacks and figure out what is driving force behind it. j thank you very much for joining us there's no easy answer as. s that's a fact by the way, we're going to open this market up about 70 odd points when we
get going 20 minutes time from now. 300 points down yesterday. remember that. if a story for you, water on the moon. maybe more accessible than initially believed. >> maybe not. consequence of this nonetheless. water was discovered on the moon back in 2009. it was thought to be just trapped in cold traps, the moon's polls apparently, however, it could be all other the police station on the moon. we thought you would like to know that. more seriously. the dangers as a result of president obama's foreign policy start towing merge. like ranl iran now building a launch pad for missiles to attack israel. so what does america do now? have an hour spokesmen for the state department. she is will answer that question. and the company is underfire for cutting ties with nra one man standing to up it hotel planet.com with us later this hour. he's not part that have boycott. you're watching "varney & company."
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>> where is the price of gold? 1,320 and ounce had replies up a buck 40 as of right now. better take a look at the price of oil -- as we've been reporting this week, america is now or this year will become the world's largest producer of crude beating saudi arabia and beating russia come on in chris collins republican from new york and house of the commerce committee. >> good to be with you stuart. account good to see you again now you represent new york state. and the reason why we are the world's largest producer of oil is because of american frarkers but we can't track in new york state what are you going to do about it? >> we need a new governor our governor sup for reelection this year, and he's -- his administration is under all kicked of investigations criminal indictments and trials
but we're about a 2.2-1 state totally dark blue and we have it see how it goes he's certainly vulnerable. but the tact is he's chasing bill de blasio elizabeth wsh and bernie sanders to the left. he is -- we have with some of the best shale as far as track ac we don't do it. >> i have property in new york state that sits right on top of i think the -- shale oil -- i think that's what it is. there's enough oil in the immediate region to, you know, provide oil for the entire united states of america but we can't get at it. new york -- >> the good news stuart is once we're done with andrew cuomo, we can then start fracking and right now that inventory of oil is still sitting in the ground. so we will be able to exploit that at some point after a andrew cuomo is no longer our governor. so at least in this case, the inventory is still there but we need a u new governor. >> yes but it is highly unlikely
that it is republican tboarch in new york state it is like california. this is -- democrat as they come you haven't got a prayer -- >> we do see hydrotracking in other states, pennsylvania and others with democratic govans it's a huge economic boost. when you cross the border from new york into pennsylvania an you see the brangd new pickup truck you see the hotels. you see the economy booming, and pennsylvania -- even a democrat governor other than our governor who is trying to put himself somehow in play to be the 2020 presidential nominee, they're going to see the economics of that. they're beginning to look out for their own future and i believe we'll have hydrofracking with our next governor in new york. >> speaking of governor cuomo, he has invited delta airlines to make their headquarters in new york because they are boycotting the nra. what do you say to that? >> well this is also the same governor that's thought new york qowb in the running, you know for the amazon headquarters that
was a joke to begin with. we are the highest tax most regulated least business friendly state in the nation because of -- governor andrew cuomo. certainly what -- delta airline as did you can't defend that that was a knee jerk reaction. to guess by some low level individual that's probably not going to have their job very long. we'll see how that plays out. but clearly this is just -- a political move by our governor because so many of our companies have moved to the south whether it is texas, florida, georgia, north carolina, alabama. he's trying to be funny but not a funny guy. >> whatever you say. [laughter] whatever you say chris collins whatever you say. it was a pleasure having you on this show sir. >> always good to be with you. i hope tax cuts have delivered well for your constituents. >>they have. >> thank you very much indeed. >> lizzy. to a congressman, but pennsylvania democrat governor just joined delaware, new york,
and new jersey tboarch democrats to ban fracking. so news is breaking they want to ban fracking. >> pennsylvania. so governor of pennsylvania. >> that's news to me. it's a $5 billion business in pennsylvania. lord. next case. north carolina reportedly shift 50 ton was equipment to syria. equipment used to make poison gas which was used on the syrian people. state departments have an hour, next on that.
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>> now, please remember yesterday, the dow industrials dropped 300 points granted they've been up 700 point in the previous two days but you can understand a lot of ups and towns. this morning, in about 15, 20 minutes time, sorry, much less than that six or seven minutes time we're opening with a gain of about -- 808 ponts so we're going to be back significantly above 25,500. okay that's where we're going on this market this morning. now, this -- the united nations says north korea helps syria shift rather shift to syria 52 ton of supplies going to syria those supplies the kind of material used to make poison gas. elsewhere iran is reported building a military base in
syria which can be used as a launch pad for roblghts into israel. now, liz and ash -- bring you into this for a second here because -- looks to me they were encouraged to gather and now the thongedder is getting real close and trump has to deal with it. >> that's right for iran to build in permanent military base outside of the capitol of syria also our comangders and military commanders were saying iran is increasing the numbering and the qualities of its icbm employing to the region a step new afnght there. >> so many years of handoff policy making in other words don't upset them. let's see if we can talk to make things work out. this is the mess that president trump has been left with as we have seen to your point it is really heating up. and fact that north korea of all places is supplying tedly gases. to the syrians, and they've been doing it for six or --
seven years. >> rogue nation is able to do that. assumption built into this report that the material they shipped back when -- was used to make the syrian gas which assad dumped on his own people killed -9d 00 men, women, and children. >> now he's in the middle of a ferocious bombing campaign is this how you finance eastern, where you know, civilians 400,000 civilians are trayed there. >> i want to bring in state department spokesperson good to see you again we used to work together. we've been discussing this move by north korea to supply poison gas the makings to syria and the irans building base as launch pad for rockets into israel ppg is our state department your state department right now -- act aively repudiating virtually all of president obama's foreign policy?
this shows how desperate north korea is to get money to fund pits nuclear ballistic and other weapons programs. that's how desperate they are. that they are potentially willing to sell this to north korea. that is what you're reffing to report that hasn't been released yet but we can see this is something that north korea has been gilt of in the past as it pertains to iran they have influence all across the world not just many that rooj but across the world so it would be of no surprise if iran were to do this once again. this is a -- a classified piece of information so i can't comment specific to that. but we know that iran in the past has sent weapons and material to hezbollah and others in syria. >> i've described this as a gathering storm during the obama administration. and that we're now seeing the lightning and hearing the thunder. would you describe it that way and blame president obama for what's happening right now?
>> one of the big things that president did when he came into office was to decide to look at iran and let's break it down look at iran from the totality of its bad action it is that it does. the previous administration had simply looked at iran with regard to the nuclear teal. forgetting all of the other bad thingses that iran is doing such as funding and backing hezbollah so president has decided to really focus on that in addition to the nuclear, nuclear deal. when it comes to north korea, this has been cooking for far too long. as previous administration had allowed north korea to continue to build up its programs. we are now at a spot where we're working with the entire world to try to choke off money supply we call it the maximum pressure campaign. that money supply that i comes in from slave labor, selling weapons and other illegal -- components and things arranged the world is what has been funding north korea's weapons program and that's exactly why this administration is trying to choke that off and we've seen
some success around the world. >> last one heather is there a clear and present danger from what i believe george bush called the access of evil north korea, iran, and now joining in syria's assad. >> you know look i don't to -- i don't to worry the american public. we're on this administration wide from the white house, the state department, with department of defense, all of us are working very, very hard on this we're seeing some successes it's not something that's going to happen overnight. this is something that took years and years to develop. and now we'll continue to be focused on it so stay tuned. >> heather it was wonderful to see you again and thank you so much for being on the show this morning. much obliged. >> great to see you. heather all right. we have a minute to go. no 90 seconds to go and that market will open up this wednesday morning. i think it's the last day of february. you realize that? march the 1st -- how about that? so when you look at that. [laughter] >> what happened to february?
yeah. i was out for most of it. but all right -- the opening bell is minutes away we're going to open higher. roughly 80 maybe 90 minutes to upside when things get rolling look at that maybe a 30 point gain 31 point gain for the nays nasdaq and s&p up nine points remember please about about one hour ago we got the latest installment on how the economy wases doing in the fourth quarter. well it's expand to get annualize rate of 2.5%. not sure that's a very robust rate. i thought we're going to do measure that more like three, 3.5% that's not to be. it was 2.5%. now markets taken that as relatively good news. after a all two and a half percent as oppose to over 3% maybe federal reserve will back off just a little bit and not raise interest rates as much or as many times as we thought they would. look at it go. now u we're up about 90 points on the dow jones industrial average you have 20 second to go and this market will open for
business on a wednesday morning, the very last day of february. >> it is. moments but three weeks of winter left that's all it is. >> hold you to that now the winter of our discontent 9:30 off and running we're running where have we opened higher 75, 79 -- and 83 points higher. nice gain there at the opening bell. it doesn't cancel out yesterday's 300 point loss but we're up 100 points as we speak. that's a gain of about third of one percent. how about the s&p 500? where is that? it is -- , it is up about half percentage point so better than the day. get the hand action there. [laughter] all right and nasdaq composite where is that he asks is? oh, there you go up a half percentage point ladies and gentlemen. we're off, we're running all right who's with me on this historic last day of february.
ashley webster elizabeth macdonald, liz polk and david -- all right, what to you say david, the strength in the economy two and a half percent did that justify your clients our viewers putting more money into stocks right now? >> i think if stocks are well selected absolutely. very impressed with mr. powell's presentation earlier this week. i think it's very hard headed approach. look for anyone who is holding back on hikes and for the you don't belong in the market because if this economy maintains a momentum i think these tax cuts in healthy global economy will give it we're seeing more tax -- excuse me rate hikings over next self years. that's like what you want to have -- >> all for it. that's okay. because they're going to come for the right reasons. fnlings you don't think that raising interest rates four or whatever the number is it's good news for stocks? >> unhealthy for bond. but i would say best news of the day is that consumer sentiment
for february all time high since 2000. that is -- that to me is sort of the driving force here. optimism amongst consumers and business managers leading to investments spending, et cetera and circle seen no siphon abating. >> so we're with all happy this morning. [laughter] we're up 110 points 25,517. the amazon story of the day. and it's a good one. they're buying the high-tech doorbell maker known as ring, obviously, o seen the commercials i see them -- i like them by the way. tell me about it. >> this is a video and wi-fi connected doorbell it's about home security and a home package deliveries. amazon sure is ringing a lot of doorbells. these days so this is a filet to go toe to toe with google. you know google nest, and a amazon watch this has now nearly 12 products in its home security division. it is smart connected home division. but it includes -- blink and includes key where, you know, delivery men can drop
packages inside the door. so by the way, shark tank rejected this product. [laughter] five years ago at evaluation of 7 million now it is selling for $1 billion. so you know, so i'll tell you so are we going it see more video of people trying to steal packages breaking legs running away getting lost in the mud. it's funny. but -- >> really like to know who is the invent tore of ring and a who developed this enterprise he or o she is getting a lot of money i would presume. look at amazon 1,520 per share as we speak. >> guy's name is jiminy you call it door bought back then but a billion dollars back then it wa 7 million. much goes to him. shocking. all right wal-mart -- their division sames club, they've teamed up with instacart to provide same-day delivery of groceries liz that's a direct shot at amazon. >> titans are battling out and
more about who can get to you fastest an hour delivery talk about immediate gratification instant gratification for those who forgot to buy milk the day before. an amazing development and i don't think it has over by anien moos but continue to figure out a way to get to your door faster and faster in more and more had cities in places and you know, yeah it is wal-mart versus amazon. i wouldn't want to get in the middle. >> forgive me for asking i know it is a personal question but do you do that -- do you go online and order groceries for one or two hour delivery? >> i actually do occasionally but here -- i actually have said to -- everyone who works with me and for me we're only going to order o from our local stores because i'm so -- horrified by the demise of thousands and thousands of enterprises all arranged us. we all see it is our neighbors it's our friends qhiewz o kids are in school support your local vender that's my view. >> all right liz, great good stuff. here's a very interesting story.
google they've been flooded with more than 2 million requests from individuals and companies all across europe. needs people 2.4 million of them they want to be forgotten. okay. that is wiped clean from any web search -- was that, what does that mean? so -- >> a lot of it is celebrities who never want to be forgotten so getting rid of nasty things that came up five years ago that they tripped over something they said or whatever and in europe now you can -- petition to wipe your slate clean. so for when nothing comes up it all began with a spish spanish man fighting to save his house from forecloser when you put his name come up on the site that he was in fore clough foreclosure that triggered the right to be forgotten movement. stock is down $4 that's not a lot, obviously, but do you think it hurts the stock when over o 2
million people don't want to be part of any kind of search and forgotten? movement is dying down too. there's less and less applications and over the last three years. and less than half are actually honored because thref to show that there's no newsworthiness. and it is not in the united states and i'm not so sure that a savvy person can't get around that position to like they're coming from the united states and see the news. >>next case check that big board up 85 points on the dow industrials six minutes into the day. that's where we are up 85. tivo may go private may take withdraw from -- the public arena and become private. may do that. how about lowes way down 9% down. very disappointing financial result. how about home dee foe the other side of the coin here. i believe home depot is up this
morning not sure about that. >> very good earnings. some time back again but that was home depot got it big gun retailer dick supporting goods going to stop selling assault style rifles. give me the details. >> well basically they're just certainly saying that -- people the assault style rifles, they have seen the news that assault style rival ruefuls about are in major school shootings not just the recent one in parkland, florida, fedex is saying it does not support the sale of assault rieflts as well. so this is the free speech of corporations making their own decisions whether or not to engage in the sale of a -- >> i support that if digs supporting goods has its own capitol and business at risk they have entitled to decide what they sell and who they sell it to that's a fact whether you like their position on guns or not. they have that right to do it. that is free speech on their side of the coin. i'm for it frankly. >> smart business decision you're getting ahead quite
frankly of new rule that will restrict -- the sale of those. >> and stock is up not much. but it is up this morning. cbs chief predicts that five years from now, cbs might bid against those big tech companies for the rights to nfl games i think sunday nfl games. right? >> yeah. the big prize -- a captain oven statement, though, because they've will be been bidding but the sunday afternoon package hex yeah look it is getting more and more expensive cbs got out of the thursday night bidding because it got too expensive he says these tech companies with a hugely deep pocket are going to be a real player, however, nfl loves broadcast television. they haven't put the super bowl on cable so putting on a streaming device but they'll try to -- get as much revenue from the streamers as possible would they go full board streaming? instead of broadcast tv? i doubt that. >> look at the money that facebook amazon, microsoft
google and apple have got. and it's -- poblghts on the -- >> streaming a lot of these sports, and this is not as you say -- a captain obvious thing. it is changing size of phones. phones are getting bigger right apple will come out with a new -- fat phone enterings that cbs would release this news but don't make you want to buy stock 19753 that's close to 180 her share. i don't think it is 180 at this point o. ting that's a high in the moment. then this papa johns months after former ceo john -- publicly criticized the nfl's handling of national anthem protest papa johns is no longer prison is it a of the nfl. is that -- said it hurt the sales but now pizza hut is stepping in as
official pizza sponsor of the nfl. >> trying to figure out did -- papa johns fire nfl or nfl fire papa johns because they now have the pizza hut deal they mentioned. they said it was mutual but sounds like they got edged out because of the controversy this nfl thing is really hurt a lot of businesses i think -- and lost my shirt on boston market. [laughter] here question go. that's the way it is. krispy kreme too? >> this is -- this is fascinating. goldman sachs okay the huge mammoth global investment bank power house. big story. yeah. they want to get into local banking. emac does that mean i go to goldman sachs to get aing loan, get a mortgage. >> yowctd get autoloan but bsh because they're trading for the worst on wall street in first half of last year, and --
watch this saying going up double dints and goldman sachs is moving into, big time and already in salt lake city so they're doing customer service is now. big fat cat goldman sachs using the infrastructure of -- it's the truth mormon sacked infrastructure of salt lake city. it's an enterprise. it's in a bank. it's in marriott, i mean, this is the -- this is the wave of the future for goldman sachs to do customer service. consumer banking. >> liz pique has that look on her face saying that she wants to say something important. >> retail banking like amazon going into groceries this is a giant challenge to absolutely to -- the traditional banking sector. because they have a guy tban tick balance sheet. they're nots going to get bogged down in retail outlets to use that balance sheet basically to build this business. and let's face it tbold man is incredibly smart and they kind of figure out the way of the future for financial services
and industry over and over again. i would not bet against them here. >> i'm saying they have to change their internal culture without question. usually you have 10 million now open up with a buck at goldman sachs. but you're doing business at goldman sachs calling themselves markets apparently that is nowhere to be found. and time is up sports fans it is 9:42 that means we have to say good-bye to liz peek and david thank you very much. one with and all. check that big board we've stagized am i allowed to say that without risk. >> go ahead shouldn't say 25,500 is where we are. 92 point higher. starting in our next hour, the reverend billy graham will become the fourth fern to lie in honor in the capitol are a tay and president will speak and bring you pictures and president's speech. we'll take you there. but first more on dicks supporting goods they won't sell guns to those under 21
>> i did say would stabilize 25 5rbgz 00 for the last couple of minutes i've been right. we're up 96 at 25507 i have a story on weight watchers, they want to expand beyond dieting. now that's interesting. nicole what are they up to? >> it's interesting they're talking about healthy, rather than diet and that is part of their new mantra overall for the ceo they came out with quarterly numbers doing great, in fact, they saw profit more than doubling for two consecutive
years unlike nutrisystem up 6.8% and their online plan has also gained 30% online subscribers and total paid users as well. so we're seeing stock jumping but over 52 weeks. 385% -- backing to you. >> not bad nicole we'll take it thank you very much indeed. i want to get to that dicks sporting goods story not going to sell assault style rifles any longer and not to anyone at all under age of 21. all rise napolitano is here. judge, am i crazy but i can see the point where you've got a class action suit representing all 18-year-olds who have beened their gun ownership rights. >> depends upon where 18-year-old is and where dicks is located because the federal law prohibiting drimtion doesn't kick in until age 40 but they keek many at 18 so dicks has a huge store and they're out right
now because they've been e-mailing become and forth out there for us. in paramus, new jersey protecting you from age 18 up. so it is absolutely a decision they can't make. can can they refuse to sell a gun to a person they think is immature and might harm others with a gun absolutely but that's a judgment call made of the basis of the person's maturity. it cannot be made solely on basis of age. >> i personally support their right as a business organization -- to sell whatever they choose to whom so ever they choose. i defend that right. >> well it would be nice if we had that right but we have civil rightses law it is that prohibit discrimination on certain bases like race -- color, creed, gender and in new jersey, age. >> they can't sell to whom -- they can sell to whomever they want but they can't not sell to
anybody on basis of of those prohibited characteristics. >> doing bring this to everyone's attention the president is just tweeted this let me read this. why is ag attorney general jeff sessions asking inspector general to investigate potentially massive fisa abuse we'll take forever has no power. and already late with reports on combmy, et cetera isn't the ig an obama guy. why not use the justice department lawyers disgraceful now i can't follow any of that judgment i trust you can. >> yes. so yesterday maria or sunday maria bartiromo said to the attorney general, are you investigating whether or not fisa was used for political purposes? he gave a very, very long winded answer that bottom line of had is -- inspector general is investigating. this morning i said to maria that is going to take forever. and the inspector general cannot indict the inspector general only reports whether or not
internal justice department violations regulations have been violated. she said, what should the torn general do? give it to team of fbi agents that let them investigate whether or not it was violated that's what president is commenting on. so tweet is commenting on what with you were saying with maria -- this morning. previously i can't take credit for it but i agree with what the president said and the president should be telling the attorney general what he wants done. >> so you're really not happy neither is the president with the performance of our attorney general. jeff sessions? >> do we have attorney general? [laughter] you're just not happy about it. i feel badly about this person because he's my friend he's tweeted flattering things about me. i have known him for years with many serious conversations together and i respect and admire him but he seems to be not there. only seems to be doing is making speeches not -- running the doj. >> and i think that the president share it is that frustration.
>> all right bottom, well, okay right now wii dealing with the parent company of t.j. maxx marshalls home goods they've raised dividend theirs buying back stock. market love it is we're up 7% on tj x companies. by the way the markets taking off. now we're up 1414 points on the dow industrials. 25,553. many company it cutting ties tih flay nra after florida shooting and may not be one of them joining us is hotel planet.com is name is tim. and sir, you are standing up for your right to do business with the nra if that's what you wish. why? >> well, thank you stuart for having me. you know i've made a statement already that it's not about -- politics at all. it's about classic hospitality
not getting involved in a boycott war. since then i've been personally attacked. they said all kinds of ridiculous things about me. but one of the things is i'm just a rich ceo with a privilege background and that's absolutely not the case you know, i was adopted. i was a child on the streets living out of a car in south central los angeles. so i know what it's like to feel vulnerable and scare. >> but it's not about me. it's not about personal beliefs. it's just about the right for businesses to honor contracts and i have a contract and i will honor it and i'll stand by it. but you know, i do believe there needs to be -- >> position on that -- regardless of your own -- >> okay. all right got it. all right we've got a 5% increase in hotel bookings reported for this year. that's nationwide. do you believe that's got something to do with the tax plan? >> i mean, absolutely. it's been great for businesses, more money in businesses
poblghts being comr conferences and conventions and more -- money in the hands of employees means more leisure travel. the whole industry is booming regard revenues and a record profits -- i came from american investment summit and hotel owners couldn't be happy and travel companieses are happy and we're having our most amazing year to date too. and you know, thanks to all of the support that everybody is thrown behind us, because given these really tough times, in what we've had to go through we've seen a ton of support. i'm happy to say we're up 150% right now. over year -- so 150 and great time. i'm sure you'll take that. tim hotel player.com, thanks for joining us, sir, much oblige. thank you, sir. now we go to this, iran is building a military base in syria. north korea is helping syria to
make chemical weapons. president obama's foreign policy coming on to roost of president trump has to deal with it. my take on that. top of the hour, coming up. ul. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum -- just to help you improve your skills. boom! that's lesson one. education to take your trading to the next level. only with td ameritrade. . .
stuart: the foreign policy of the obama administration was a disaster. one year after he left office the danger to america and the world is becoming very clear. according to a u.n. report north korea shipped 50 tons of equipment to syria. equipment used for the production of poison gas weapons. sir i can't used sarin gas on its own people hundreds died including women and children. despite threats president obama did nothing. when the north koreans develop ad nuclear bomb and the missiles to deliver it to america. obama's national security advisor says that we can live
with a nuclear north korea. really? does she or the former president offer any guarranties that the nokos will not ship a nuke or missile to another rogue machine. it's a launchpad for missiles to attack israel. it was president obama who made a disasterous deal with iran allowing them a nuke in future years and doing nothing when they built and tested long-range missiles. north korea, iran, syria, barack obama turned the other cheek to their aggression and their atrocities. he appeased these despicable foreign governments. now the world faces the consequences. the obama years were the gatherings storm. now you can hear the thunder getting much closer. what is susan risings national security advisor, what is she up to these days? she is blaming racism and sexism for all the criticism. the former president, mr. obama,
is reportedly interested in running for a new job, the secretary-general of the united nations. the second hour of "varney & company" is about to begin. ♪ stuart: nice gain. down 300 yesterday. recovering half of it. up 151. 25,561. check those big tex names -- tech names. here we go. all of them on the upside. including apple which has now reached $180 a share. we like to cover all the markets so look at oil. as america becomes the world's largest oil producer this year, we have the price of crude at $63 a barrel. dick's sporting goods will stop selling assault-style
rifles following the florida shooting. they won't sell any gun to those under the age of 21. more on that later this hour. more on the market, jack hough is with us, "barron's" senior editor. why is the market up 130, 140 points? what is the reason for today. >> the news is good in terms of earnings growth, economic growth. the only potential sticky spot is rising bond yields. the starting point is so low rising bond yields will be good news before they become bad news. stuart: all the can kerfuffle about three or four interest rate rises from mr. powell yesterday, all of that fades into insignificance because interest rates are relatively low at this point? >> here is framework. bank of america write this is morning, see threes everywhere. 3% wage inflation. 3% on the treasury yield soon. they think we'll get to the 3,000 on s&p five hupp by year-end. that is 9% upside from here.
what a wonderful world, right? but, their long-term forecast going out to 2025, gives you 3500. after you get the 9%. takes you seven more years to get your six 16%. what a stingy world. they're saying stick with us because the bull is not do yet but bull markets don't last forever. begin to think about the fact that these returns won't stay yep russ like this forever. stuart: but for now -- >> things look good. stuart: they think things look food. amazon is buying that company called ring, the video doorbell maker. amazon keeps taking them all, doesn't it? >> they're way out ahead in terms of voice assistants. that is great spot for door automation. your doorstep is where they do business. anything they do around your doorstep they like to do it. stuart: i want to talk to you about apple, currently priced at
$180 a share. >> yes. >> that makes their value, $912 billion. they're heading for a billion, aren't they? >> i like predicting races, one of the racers is 3/4 to the finish line. apple will become the first trillion dollars because it is closest. things are going well. let's remember the headlines, super cycle we thought we had, numbers are not good enough. it doesn't have to be good enough. people stick in the apple ecosystem because they like the software. if you passed up that phone. just increases the chances you will get the next phone. stuart: you're right. >> it becomes annuity of margin business. liz: has to hit 195 to hit trillion. got shortest distance. three new iphones later this year. stuart: including a bigger one. ashley: ipad sized telephone. stuart: with big letters. okay. if they get another $15 higher, apple is trillion dollar company. do you think they will get there fairly soon? >> i will round up to 200 bucks.
stuart: this year? >> feeling generous. don't see why that couldn't happen by year's end. to the extent this past phone fell short of expectations the next one will beat expectations. there will be that much more pent-up demand. stuart: my kids told me to buy it at 50. that was presplit. they're still my kids. jack hough, thank you very much. i say the foreign policy of the obama administration was a flat-out disaster and the trump administration has to deal with it now. joining me wisconsin republican, sean duffy. are you taking issue with me or agree with me, sean? >> stuart, you were spot on. barack obama's foreign policy was an absolute disaster. we don't live in a safer world after eight years of obama, we live in a more dangerous world. you see where donald trump sits there are not a lot of good options with north korea or
iran. he can go with sanctions. go with finance companies, can go with energy sanctions. can bring in russia, china, south korea, japan, in regard to north korea. not a lot of good options. the last option is the military option which is the worst on shun. trump in backed into a corner, not just barack obama who was failure. george bush didn't keep his eye on the ball, nor did bill clinton. if you don't contain nuclear weapons or chemical weapons to north korea or iran, they share them! they're sharing them with syria. who knows, they may share them with isis or al qaeda or some drug czar in south america? they're willing to sell these weapons for cash, especially, when they don't have much cash themselves. this leaves us in a dangerous world. you were spot on. stuart: give you 30 seconds on why we should or should not welcome president barack obama as the u.n. secretary-general?
>> well, listen he has been a disaster as a u.s. president. i think he will be a disaster as u.n. president, as the secretary-general. as the u.n. goes they're a disaster any way. he would be par for the course. my question could he do more damage at u.n. than already done? probably not. nice to have a little different take from the past in the u.n. but barack obama would offer more of the same which, i think would be sad. >> that was 35 seconds. we'll let you off with that. sean, i have another one for you. the president will attend a bipartisan meeting with congressional members on school safety, another one i believe. do you think something concrete gets done? >> i do, stuart. listen, you have a lot of kids, i have a lot of kid. i have eight kids. six are in school. i want my kids to come home. i don't want to be like a parent in florida. so this is a very large conversation but school safety is a key component. and whether we have metal
detectors, whether we have single points of entry, in certain communities, again in my community, maybe in wisconsin, our school board might say allow teachers to have a firearm. others might say maybe not. i think school board can make those decisions. at one point, we have $63 billion chuck schumer leveraged for us to build up our military. let's use some $63 billion we'll spend in the next month, use it for school safety. give grant money out especially to poor schools to shore up their school to keep them safe. stuart: i guess what i'm trying to say is, president trump is not idealogical. he is not on the right, he is not on the left. he is a business guy, not a politician, he is a business guy and he wants to get something done. i will express the finance if you want to get something done you go to trump. you don't go to the right, you don't go to the left because he will get something done, and you say what? >> stuart, here's the question. do you want to get something done to make people feel good or do you want to get the right
thing done that protects our kids? stuart: i tell you what i think. i think the american people at this point want something done. make the judgment later whether it was right or wrong. >> again i understand the politics but what happens we do something, it is not the right thing and more school shootings and more kid die? i want to do the right thing to protect our kids, whether school safety, looking who can purchase a gun, what laws in place are not being implemented. whether looking at fatherless homes. lack of morality and faith in our community. gun violence from hollywood or video games. overprescribing little boys with boys, feeding them with medication, there is a whole set of problems that we have. we should look at all of them if we to address this issue. do one thing, that is the only thing. it might make us feel feel good but i don't think it will solve the problem. that is the answer. stuart: sean duffy, we hear you. thanks very much for being with us. >> thank you. stuart: totally different
subject, barbra streisand admitting two of her three dogs are clones. ashley: that is different. >> you weren't expecting that. he jumped all over it. miss scarlet and miss violet were cloned from cells taken from her 14-year-old dog samantha, before it died last year. the cost of cloning? $50,000 per dog. liz: okay. stuart: just kind of popped up on my prompter. that is why i read it. president trump says he is running for re-election in 2020. he is already named his new campaign manager. we will ask a former trump campaign staffer why is he making this announcement so, so early. a live look inside of the capitol rotunda where billy graham will lie in honor. the president trump will speak at the service. we'll bring all of the activities surrounding billy gram in a moment. -- billy graham.
stuart: we're holding on to a gain well over 100 points. 25,531. amazon, let me bring this to your attention. amazon hit a all-time high of $1526. it is at that level right now. liz: wow. stuart: keeps on going like the energizer bunny. got to look at apple too because they just reached $180 per share. that is where they are now. if they go up another $15, apple will be the world's first trillion dollar company. all american. got it? president trump says yes, he is running for re-election in 2020. he appointed brad parscale, the dimming tall media guru to be his campaign director. joining us david bossie, closely associated with the trump campaign of yesteryear and author of the book, "let trump be trump." >> good to be here, thanks. stuart: why would the president,
only one year into his first term announce three years in advance he is running in 2020? why the announcement now? >> i think it is a brilliant announcement. brad is a tremendous person to pick as the leader of the new campaign effort but they look that it is part and parcel of the 2018 midterm. that the results of the midterm will predicate some of what needs to happen in 2020. so they wanted to put another piece on the chessboard. that being the reelect committee. being able to raise money. being able to help with messaging and polling and data operation, to help these midterms be more successful. i'm incredibly happy about that. stuart: maybe he wanted to stand in stark contrast to the democrats who have countless candidates to run in to 20, frankly all over the idealogical map. mr. trump maybe wants to stand up, i'm the guy, i'm it, here i
am? >> everyone knows that this president is an incredible leader. his success in the first year, you know whether it is the tax reform or peace through strength policy, strengthening us at home and abroad, fighting isis around the world, he has a tremendous track record that he will be able to run on. this, this effort, i really look at and i have talked to brad and i have talked to others, it is about the 2018 midterms and about putting another organization in play, fully developed by the election, that is going to help this midterm be more successful for this president. which then gets more success in the second two years. stuart: now, brad parscale, he is a digital guy. i would call him a techie kind of guy. >> he is. stuart: you know, david, the techies who lost or helped lose the election for hillary. she relied heavily on numbers and slicings and dicing the electorate. don't tell me mr. parscale is
the same kind of guy? >> not at all. brad understands, it is actually funny, it is in our book, but brad describes the feeling that he wanted people to get when looking at mr. trump in, how he used the digital platform. he wanted people to want to dance. it was kind of funny, when he said it to me, i got to tell you, it is exactly right. he understands, he has his finger on the pulse what is going on in trump world, the trump army that is across america, that we need to energize and keep fully engaged through 2018 and in 2020. stuart: was is mr. parscale's idea for the president to pick up the twitter account and use it constantly? >> no. that's the president. there is only one person who runs the twitter account and that is the president of the united states. then in 2016 it was the candidate trump. this president makes the decisions and brad is going to
lead a team that is going to be giving the president the information, the data, and the options, but the president will be making all the decisions just like he did in 2016 in that incredible run. stuart: got it, david bossie as always. thank you again, sir. see you soon. >> thank you. stuart: right. the company which provides wi-fi at airports like lax and jfk, they're the wi-fi providers there, they want to provide 5g service. that is interesting. the company's chief tells us what benefit this service would provide and of course how much it costs. that is boingo by the way. ♪ mike and i are both veterans,
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stuart: all right. tivo, you know that company. well, they're considering, thinking about going private. at the moment they're public. they are thinking of going private. investors in the company love the idea of going private. i think they might make more money and they bid the stock up 15%. up $2 at $15 a share. look at lowe's home improvement, you would think they do well with the economy doing well and housing market improving, but no. they're down 5%. profit and revenue up to snuff. company that provides wi-fi at airports and sports stadiums too, they will soon provide 5g service. boingo provides the service and boingo's ceo david hague again joins us now. i love that name. i saw that i thought i was talking to the ceo of boeing but it is boingo and you're the guy. welcome to the show.
>> stuart, thanks. great to be here. stuart: if you offer 5g services, what extra do i get? what does 5g give to me? >> 5g will revolutionize the world much the way the current services have done decade or so. 5 f increases capacity by 100 x. increases speed by 10-x. allows multiple users in small space to do high bandwidth activities. example, it may take many minutes to download a 4-k movie, with 5g that happens in mere seconds. it will revolutionize how we use wireless networks. stuart: let me get an idea of pricing here, if i go to jfk, i want to use your wi-fi service, how much do you charge me, just for wi-fi service at moment? >> wi-fi service in most of our facilities it is free. to the user to watch
advertisement, get on line 45 minutes for free. continue to do that. you can pay if you want to skip ads. we have our carrier connect to the wi-fi network no cost to the consumer. they can do whatever they want, surf for free, all paid for by their cellular carrier. increasingly getting on to a wi-fi network costs the consumer nothing. stuart: got it. you bring in the 5g service, how much do i pay for that? got to be a payment involved, got to be? >> so 5g services will be provided by the carriers, by the wireless telcos. we do that in partnership with them in the venues where we have long-term wireless contracts like jfk as you say, we have cellular licensed spectrum in those airports today. stuart: how much? >> 5 f will be overlay to that service, whatever you're paying
to your cellular carrier day, i need a dollar number. i need a dollar number, because i don't know how much i'm paying to the carrier service, what we've. i want to know how much boingo will charge me? how much extra will i pay to boingo or whom so every if i pulling into your 5g service? >> sure. again on 5g services which is licensed spectrum we do that in partnership with the wireless carriers. stuart: how much? >> we don't control prices. i don't set pricing for the carriers that is up to them. but i think as you see -- stuart: guess. how much? i know. guess, guess. >> i have no idea, stuart. i have no idea. stuart: so we put you on the show because you're offering a 5g service but you can't tell me how much it is going to cost me? okay. boingo, thanks for joining us, sir. we appreciate it. i'm out of time. sorry, got to go. we'll be back in a second. you know what they say about the early bird...
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♪ stuart: you know every day i forget. it is 10:30. we play the beatles. baby you can drive my car. i love it. ashley: give me the gas money. stuart: check the big board. we're up 143 points. we'll take it, 25,554. okay now we got the numbers how much oil we've got in storage. ashley: up 3.02 million. that is a little more than expected, which you would expect to put down ward pressure on the price in oil because we have more in storage. there you have it. 62.85. we had analysts on recently said this is going to 70. there is still oil slushing around. the global economy is picking up drawing down that oil but not in this report. stuart: a lot in storage. keeps building up. ashley: yes. stuart: show me tech names.
two in particular i want to focus on. amazon reaching 1500 -- where is that on the screen. 1 a 25. it was at 1526, earlier. all-time high. apple, top of the line, 180 on apple. it is very close. 15 bucks away from becoming a trillion dollar company. come on in please, shah ghailani, welcome visitor to our program today. he has been opt air, i don't know where he is. looks like he is skiing someplace. aspen, is that it. ashley: sniff sniff. stuart: he is in aspen today. wonderful. using profits from the nice bull run i believe. >> making it down the slopes skis first, that's all. stuart: good man. from the election all the way through to january, you were a bull. you kept on saying, go, go, go, put your money in, keep it in, it is going up some more. then in february, as the marketfulled back, you said no,
i'm getting cautious. not committing fresh cash to this market. we're at 25,500, we're back up again. what are you doing now, are you still out, not putting fresh in. >> i'm neutral right now, stuart, here. i think long-term investors do nothing but stay the course. as market dips, probably by more. traders say volatility is here. i don't think it will subside anytime soon. market over the short term could correct back down, could test the lows we saw before in february. that scares me a little bit. i'm looking to see where that goes. if we get back to new highs, going back in, reposition myself, everything that i like. stuart: but at this moment you do not see another big bull leg for this stock market in the immediate future, can i say that? >> no. that is not correct. i think we can. i just think we'll get to a little bit after tumultuous section that may last couple
months, then we'll see another leg up. where we go, maybe a quarter or maybe no more than 15% down worse. that would be tremendous buying opportunity. we may recover, stuart, next couple weeks, see new highs, time to get back in keep riding it. stuart: everybody knows i'm a long-term holder of microsoft. you're not suggesting that i sell any of it, right? just hang in there? >> no, no. all of the leadership stocks, except for facebook have gone back to where they were before and higher. so again, if you stayed the course, long-term investor you will do very well. i think i said this on your show several times, i believe the market is going to double in five years. if you stay the course, everybody will be just fine. stuart: whoa, whoa. wait. chucked that out there and walk away from it, you can't do that. the market is going to double in five years. are you talking 50,000 on the dow industrials in five years? >> yes. stuart: you are? >> yes. look, there is nowhere else for
the capital to go. more capital is created every single day globally. capital has to go somewhere. single income investments will not rise enough for them to be worthwhile. people continue to go in the stock market. given buy backs companies are doing, given mergers and acquisitions next couple years. there are fewer stocks available for capital being created. capital chasing fewer stocks, nowhere to go but up. stuart: get out of aspen, where you ever you're in, i want to see you on the set, grilling you 50,000 on the dow five years from now. don't get ahead of your ski, lad. i've been there, son. thank you very much indeed, shah. that is the motorcade arriving now. this is the billy graham funeral service that is, memorial service i should say. that is the motorcade arriving. the family of billy graham
arriving there in that motorcade. billy graham will be lying in honor in the capital rotunda. there is a technical difference from lying in state. billy graham will lie in honor in the capitol rotunda. let's watch this occur as we speak. you're seeing family members arrive on capitol hill at this point. now this is going to go on throughout the morning. president trump will be speaking at this memorial service, the honorary service later on this morning. probably in the 11:00 hour. herb london is with me. herb, i have been in america for 40 years. i perceive that billy graham had a very special place in america's spiritual life for the last two or even three generations. >> i don't think there is any question about it if you read the article written very recently by president bush, it
is very clear, that managing to overcome the alcohol problem he had, was directly related to inspiration, spiritual inspiration provided by billy graham. he played a role as the great evangelical leader in the united states and that evangelical leader meant apawful lot to a great many americans. not only americans but evangelicals everywhere across the globe. stuart: regardless of the man's theology. >> that is correct. that is correct. stuart: regardless of branch of christianity he represented or stood for i think he was admired by both sides of the aisle, by both the left and the right this man was admired. >> i think it had nothing to do with partisanship but had awful lot to do with the spiritual dimensions of american life. stuart: i think he is sadly missed. i can't think of someone who would take his place. >> i can not either. in fact i think there was one billy graham. remains to be seen whether in fact another will emerge but there is no doubt the kind of role he played in american life for several generations was
unique. stuart: it will be a solemn honorary service today but there should be great joy behind it. billy graham was a christian. he believed in jesus. he believed he was saved. we all believed that he is in a better place. so there will be an element of joy in today's honorary ceremony and well as great sadness of passing. liz: only fourth private citizen to have honor of lying in rotunda. rosa parks being another one. this is interesting too. his casket is simple pine wood casket made by prisoners at louis state pen 10 think airy. there is simplicity. stuart: this is on airy zare mope any. i'm not secure of the correct word. stuart: lying in honor. a ceremony of service in honor of billy graham.
that will go on 12 noon. that is the next 90 minutes. president trump will be speaking. he will be the last speaker in the rum-down today. here is what i have got. 10:35, that is about now, members of the senate and senate chaplin depart the senate floor. they end the rotunda from the north entrance. you will see that at some point. a little later the president's cabinet epters the rotunda, escorted by the house sergeant-at-arms. you will be seeing that. and at 10:45 the hearst and family vehicles will proceed to east front there. that is the way the proceedings go on throughout this morning. there is franklin graham, and that is senator cornyn, republican from texas paying his respects on capitol hill this morning.
the man was a christian, profoundly so. spent his life in the service of jesus of the we all believe that he is in a better place. certainly a different place as of now. and there is a certain honor and joy in that. we'll be keeping up to speed with all of this. these are lawmakers as we suggested walking into the rotunda, paying their respects. i see senator cotton right there. you will recognize faces from both sides of the aisle of course. senator corker. you will recognize them all as they file through to pay their respects to billy graham lying in honor. senator shelby right there. senator hatch who is retiring. i see iowa senator grassley. that is lamar alexander. ashley: lamar alexander yep. if i miss an occasional face please forgive me, but this is the political elite lining up to
view, to pay respect to billy graham. liz: the president and congressional leaders will lay wreaths. the president is expected to make remarks at top of the hour at 11. billy graham counseled a dozen presidents. 185 countries and territories his message of the gospel reached. he was close with queen elizabeth. you know, this will be a moving event to start watching at 11. stuart: forgive me for injecting a personal note here, but billy graham, i was brought up in england in the 1950s, billy graham conducted a crusade in britain. i think it was either 1957, 58, 59, it was the end of the 1950s. ashley: yeah. stuart: i was a young, a boy, frankly less than 10 years old but i remember it distinctly, because his crusade as he called it, dominated british life for some time, because he brought 100,000 people to his crusade at
wembley stadium. now britain is, and was very much a secular society. ashley: yes. stuart: it is not overtly religious society at all. you do not win prizes being overtly religious in britain. ashley: not at all. very private. liz: how was billy graham received at that time in that environment? stuart: with astonishing enthusiasm. the fact he could fill wembley stadium with 100,000 people and speak for jesus that way was as ton maybement to the brits. ashley: unheard of. stuart: absolutely unhid of. whether he could, if he come again today done a similar crusade i don't believe he would have same response or same reaction to it. but at that time that stopped britain. ashley: yes. stuart: a personal note. i watched the crown. ashley: yes. stuart: during "the crouch," we-
the crown, paid attention to billy graham and and invited him to buckingham palace because she wanted his counsel. i don't know how historically accurate this was back then. that was part of the crown and queen elizabeth was profoundly affected by billy graham. on our couch, not on the couch, on the set right now. ashley: couch would be nice. stuart: martha maccallum. this is a sad occasion yes, but joyous occasion at same time. no one had the same spiritual influence and impact on america as billy graham. >> very true. we're watching the end of an era i think in many ways, as we watch this gathering of senators in capitol hill and members of congress. you will see president trump, president bush and president clinton will be in attendance today. it's a very solemn occasion.
i think the impact of billy graham really is so widespread. the fact that he develop ad friendship, kinship from presidents from nixon to clinton to president obama, president carter, his whole message was that god loves you. stuart: right. >> he stood in front of crowds in 185 countries, said look, we're all sinners. what i want you to know is that god loves you, regardless of who you are or what your background is. so that was universal message from billy graham. that is why some questions, should a religious leader being lying in honor in the capitol? this is person who had profound impact, as you point out overseas, queen elizabeth was taken with him. he had magnetism. he had the ability to leverage television in an era when it was
to be leveraged. he understood that perhaps in the way that current leaders understand all these other mediums on social media. he understood the power of television. he was incredibly humble man. at one time hollywood wanted to recruit him to be leading man. he is very good-looking. he said no thanks, i'm a better off as pastor or preacher. stuart: he started out as a fuller brush salesman, was probably the best in the business. >> oh gosh, can you imagine? you would have bought a whole suitcase of brushes from billy graham if he did the same kind of persuasion. stuart: i worked in hong kong for many years in the 1970s. i worked for radio hong kong at that time, and billy graham came to hong kong and conducted a crusade in hong kong and i covered it, i went to see it. it was another extraordinary event because people in hong kong tend to be quiet and
listen. if you go to a rock concert in hong kong, they don't stand up and tans and cheer and shout. it was very restrained audience. i was expecting the same from billy graham crusade from all-chinese audience. not so. it was enthusiastic, rapture audience. he would invite people to come down, accept jesus into your life to be saved right there and then. thousands of people left the stand, went down to billy graham to be touched by him and to accept jesus at that time. that was astonishing because that is not one expects culturally from all-chinese audience of tens of thousands of people. really remarkable. >> that was in part the personal magnetism billy graham he had in great abundance. stuart: the claire of the man's message. >> exactly. stuart: you knew exactly what that man was talking about.
liz: the integrity about it. demanded racial integration at his revive ales in 1953. invited martin luther king to join him in the 1957. he bailed out martin luther king from jail in the '60s. billy graham, personal integrity and personal magnetism as well. stuart: what you're seeing on the screens, assembled political elite an executive elite of lying in honor of billy graham. they will stay there, talking amongst themselves and honoring billy graham for just a couple more minutes and then they will exit, and then there will be invocation at at 11 from the chaplain of united states house of refers. remarks from the chaplain of
about the death of billy graham said, there was no one like him. that pre much summed it up. stuart: that is true. there was not. i did not shake his hand. i didn't get to meet him personally. i did cover his crusade, and again i do remember, as a boy, watching him. there was only one tv station in britain. that was the bbc. and then, a second station opened, itv, independent television. and i believe, if memory serves me correctly, their very first broadcast was the billy graham crusade. i believe that is true. ashley: wow. stuart: that is as i remember it. my memory may be faulty there, we're talking 50 years ago, if not more. before you people were even born. >> wait a second. stuart: that is very true.
i feel these occasions, are yes, solemn. we should maintain a solemn demeanor but you know, there is something about billy graham -- ashley: he led a remarkable life. stuart: he did. ashley: he led a full life. 99 years old. liz: it was about joy. stuart: which is america about joy. >> one of the things he struck me said near the end of his life, he was asked in a fox interview, what would you do differently? he said, i would speak less and pray more and tell god how much i love him more. and i thought that was fascinating. stuart: yes. >> and something that perhaps we all could benefit from. saying less and praying more perhaps, whatever your -- stuart: martha, you and i do speak for a living. >> exactly. but it's a good lesson. he did too. stuart: i feel quite comfortable smiling and putting on a happy
demeanor while i'm covering the lying in honor of billy graham. i think i saw franklin graham arrive there. he is heading into the rotunda building. at this point we will see the exit of the political, executive elites. they will be leaving, and the casket, the remains of billy graham as put in itinerary will be taken into the rotund today, escorted by the sergeant-at-arms, david bruce and his family. we will be seeing that momentarily. then we'll get the arrival ceremony of the invocation from the chaplain. the majority speakers speaks. the speaker will making remarks and president trump will be making remarks. you will see it all. i want to go back to something you were mentioning earlier, and that is the article written, i
believe in the "wall street journal" by bush 43. >> yes. stuart: he spoke and wrote personally about billy graham's influence on him and him helping him to get alcohol out of his life. >> right. stuart: what did he say? >> well the article was written as a way of dealing with, i guess a personal tragedy in bush's life where he was addicted to alcohol abuse and it was billy graham's involvement and billy graham's inspiration that changed that. had the course been different bush never could have become president of the united states. it was perfectly clear that billy graham had this enormous influence on bush and the bush travels and odyssey into the white house. that trip too place in large part because billy graham set the way, set the stage for a george bush that would be free of alcohol and free to find god. stuart: that is extraordinary story. >> it's a great story.
stuart: of enormous impact on one specific individual, who became the president of the united states. >> no question. the pathway to the white house took place in large part because billy graham put all of the paving stones in the path of george w. bush. stuart: yes he did. now you will notice a complete absence what i with call pomp and ceremony. it is not there. i don't see marching band. i don't see the military on display at all. ashley: dignified, yes. stuart: there is a certain dignity in it. yet again, i see smiling faces. that is unusual for this kind of event. liz: yeah. stuart: but there are smiling faces. liz: you don't need the pomp. stuart: no. your program tonight, martha, how will you cover this? >> you know, we'll be watching obviously what happens throughout the course of the day today and probably replaying some of it for people who may have missed it as they watch this. listening to your story about president george w. bush, and
the profound impact that he had on his life, it also strikes me that he was invited to kennebunkport by president bush's parents, who may have done what we would now call an intervention, right? and said to billy graham, why don't you come up and talk to w? perhaps knowing that he was just the right person to speak to their son at that time. >> i think that's right. it was done in rather subtle way. you're absolutely right. it might very well have been an intervention. certainly the bushes wouldn't have thought of it in that fashion. no doubt the influence was profound. ashley: george w. bush described himself as lukewarm christian to loved beer. that changed after the intervention of billy graham. stuart: is that right? >> yeah. stuart: i see a lot of friendly conversations interparty conversations. liz: what is interesting about that billy graham famously said jesus did not have a political party. so he did not, he avoided
explicit partisanship. he counseled both republicans and democrats. i've been reading billy graham was a registered democrat. so it is interesting that he, he held himself separate from the moral majority which he refused to join. he wouldn't really go in with the evangelical right-wing. he wanted to be outside of it as counselor to both sides of the political aisle. stuart: who will take his place? if he was the principle spiritual person in the united states of generations, is there another person who will take his place? ashley: his son frankly but i don't know -- how can you fill the role of billy graham. that is very difficult thing to do. stuart: he had a unique role. ashley: yes. stuart: he had no politics, not that i could discern anyway. ashley: no. liz: although he did endorse mitt romney in 2012. stuart: did he? liz: he wanted to stay outside of taking political sides.
>> i don't know that anyone can replace him because the movement that he was most closely associated with has become quite political. stuart: yes. >> that notion of being able to serve both sides as a man of god i don't know. stuart: very good question. can you be a spiritual leader in the united states today, not affiliated with any specific church but a spiritual leader who does not engage in any political activity? can you do that in this day and age? because we are bitterly divided politically. ashley: yeah. stuart: i suspect we knee someone like billy graham who can unite, from the center, non-political center, where politics is not an issue at all. simply your spiritual life and what spirituality has to offer to the individual. there is a place for that person. we don't have that person. >> a spiritual quality necessary in america today.
the search for god is obviously something deep in the american soul at the moment. the debasement we see in the culture due in no small part to the fact there is seeking, desire to find some sort of spiritual life. stuart: okay. now we'll continue following this. we're waiting for president trump who will be speaking shortly. in the meantime i will tell you that we have -- let me talk about money for a second. i think i'm allowed to do that. it's a financial program. we're at the social lows as a matter of fact, that is 25,400. we're up just 19 points. we had been up a lot higher than that we'll take a short commercial break. we'll bring you the president of the united states lying in honor of billy graham after this.
capitol in the rotunda building. we're waiting for the memorial service to begin. here is the president. he has arrived on capitol hill. he will be speaking a little later this hour. also speaking majority leader of the united states senate, speaker of the house, then the president of the united states. now you will see on the left-hand side of your screen the activity surrounding this service and this ceremony. meanwhile we will continue, i want to bring in fox news contributor and the former speechwriter for george w. bush, marc thiessen. marc, i want to talk to you about bush 43, who wrote an article saying that it was billy graham who turned him away from alcohol, basically saved him, so that he would become the president of the united states. you were his speechwriter. do you know about this incident, sir? >> oh, absolutely. he wrote about it in his book,
decision points as well. billy -- george w. bush admitted that he at a point in his life he was powerless over alcohol. he had a dinner at kennebunkport where he billy graham was with the bush family, three glasses of wine at dinner, and four beers after dinner, he had a rough night and went for a walk with billy gram and took a walk with him and how to change his life. he said if he hadn't been for billy graham he would have never given up alcohol and if he hadn't given up alcohol he would not have been president of the united states. billy graham changed history by giving the gospel to a young man. stuart: was hit george w. bush's parents who staged an intervention using billy graham? >> i don't know. i don't think so. bush was always a christian in his heart but hadn't fully developed his faith at that point. billy graham inspired him to do that. but you know, it is interesting,
we spend a lot of time focusing on his relationships with presidents which is natural because we talk about politics and at least i'm here in washington, d.c., which is the prism which we look at this but lily gram's impact was much larger than the impact he had on presidents and quite frankly on queens and prime ministers. he was advisor to queen elizabeth. counselor to queen elizabeth and talked to winston churchill. he saw them as ordinary americans who had heavy responsibility but all people are created in the image of god, but his real impact, stu, was his preaching around the world. in the gospel of mark jesus tells his disciples to preach the gospel to every corner of the earth. that is what billy graham did. he preached in 185 countries. 215 million people came and saw him speak in person. that doesn't count hundreds of millions who watched his sermons on television and read his books
and followed him on internet. with the possible exception of john paul ii, no human being brought more people to christ than reverend billy graham. stuart: is there another person alive today could have the same role in america and world as a spiritual leader who plays no role in politics. >> i think it's a really important role as you point out. i agree with you. look, when, when the country needs, god will provide. before, back, if you go back to the first century, i'm sure after the apostle paul died, everyone turned and said, my gosh, what will he do, they ever will be another great preacher like him? over 2,000 years of christianity many great preachers stepped forward to speak. billy graham played that important role in our country when we needed it in the 20th century, the early 21 shhhh! century. over next 2000 years of christianity and few hundred years of our history, another preacher of the gospel will
come. billy graham pointed out. they weren't coming to see him, they were coming to hear the word of christ, the word of god. when someone listened to him. he said they weren't listening to my word but the words of the bible. he was humble that. he would be the first to tell you, somebody greater than he will follow and so we can have confidence in that. stuart: marc, while our audience watches events unfold on capitol hill, we see president and first lady waiting to take part in the ceremony, forgive me, marc, i want to talk directly about politics for a second. >> oh, okay. stuart: forgive me, marc, forgive me, i have sinned. i have read your stuff. the heritage foundation says what, 60, 64% of mr. trump's agenda is already done and that he has done it faster than ronald reagan did his agenda back in the '80s, is that correct? >> i would be very careful in
comparing trump to ronald reagan yet. he is one -- we had these, these scholars out there who ranked already the presidential scholars in academia ranked donald trump as the worst president in the history of the country. whether you think he is the worst president or the greatest president he is one year into his presidency. ronald reagan brought down communism. there is a lot left to do. there is a lot of roads this can take but clearly his first year in office has been incredible success. every president has bumps in the road. he didn't get obamacare repealed. but regulatory reform, tax reform, first tax reform in three decades. and the economy is booming, these are huge achievements and important achievements. so i'm careful early, this early in a term to start comparing legacies. especially we're only 1/8 of the way through if he gets two terms. so i would wait and see. stuart: what do you make of him announcing for the, announcing
that he is going for a second term in 2020? he announced that already, what do you make of that? >> well i think we all knew he was going to run, and most presidents, there are very few presidents, something like in the case of lyndon johnson he was so unpopular he had no chance, there are very few examples of presidents in the first term who don't run for a second term so i don't think that is not a big surprise. stuart: we talked a lot about mr. trump's policies, whether they're effective, popular, whatever, but we should also talk about president trump's demeanor. do you think we'll ever get used to him? that is what so many people object to. they don't like this rough, tough, brusque guy on twitter. will we get used to him you think? >> i don't know if we'll get used to him. i think unfortunately he is his own worst enemy. a great column in the "wall street journal" who said i agree with everything donald trump does and i disagree with everything he says.
there is a lot of americans out there who feels that way, who are very supportive of his policies. the problem is it is a lost opportunity. with the job of the president, once you achieve the presidency to expand your base of support. donald trump has 35% core base of support will be with him no matter what. the presidency is opportunity to expand that, by what you do in that office. he seems to do very good job of undermining the effort of expanding his base and, expanding his base rather than solidifying it. you can't just feed red meat to the true believers. you have to go out and find the persuadables out there, all the people benefiting from this tax cut. all the, one of the things that very few people realize, stu, no one seems to talk about it, the tax cuts included a proposal by senator tim scott to create opportunity zones in poor neighborhoods across the country. we're actually going to have tax advantages for to bring businesses in to invest in these
african-american neighborhoods and other poor neighborhoods. we don't talk about that. trump doesn't talk about that. that is a huge lost opportunity to reach out to other communities. that is why it is so self-destructive. stuart: marc, forgive me, i will go back to billy graham. >> sure. stuart: again for one second. bear with me, please, marc. back in the 1950s i remember billy graham holding his crusade in britain. it was an astonishing success. the man got 100,000 people to wembley stadium to witness for christ, something which we had never seen in britain before or since by the way. i can understand billy graham's huge appeal to a very religious america but i found it hard to believe and understand the extraordinary appeal billy graham had in largely secular britain and that is a huge difference. europe is secular, america is not. your comment, please?
>> europe need more billy graham. it's a problem. he preached in 185 countries around the world. the gospel knows no borders or cultures or boundaries. it is for everyone and he preached to everyone and he preached in a way that made everyone feel like they're welcome. he preached truth but did it with mercy. that was incredibly appealing and we need more of that today. the other thing he did which was remarkable, stu, he was he can cue men call. he was first major evangelical preacher who met with the pope and who pope john paul ii, they were very close friend, who went out and made clear he considered catholics to be brothers and sisters in christ. that was very controversial but he united catholics and evangelicals and taught them they're not enemies. they're allies in the battle against moral relativism. he was, in 1953 he said no more
segregated rallies. he got death threats from the kkk doing so. he would not preach to a segregated audience before brown versus board of education. he was remarkable man. stuart: he bridged many gaps, many divides. it is astonishing to look back, what, a generation and a 1/2 to go. there was enormous divide between protestants and catholics and billy graham did indeed bridge that divide. there was enormous divide between black folks and white folks historically going back just two generations and again billy graham bridged that divide. and now, he is lying in honor in the capitol's rotunda building observed by the political elites of the united states and the president united states and the first lady. there is franklin graham right now standing next it president trump. marc these send, thank you very much for joining us this morning on a great day. we appreciate you sir. we do.
>> thank you for having me. stuart: all right. i will briefly keep the camera on this as you're seeing billy graham laid in honor in the capitol rotunda building, surrounded by washington's political and executive branch elite. shortly we'll be hearing the invocation from chaplain of the united states of house of representatives. the majority leader of senate will speak. the speaker of the house will make comments. then the president will sum it up. we'll take you to the president's comments but we'll move on for a moment. i want to alert you what is going on in the world of wall street, the world of money. i got to tell you that we're down. the dow industrials at one stage today up well over 100 points. 150 points i think was the high. we're down 40 points at 25,369. let me deal with the market for a moment. our next guest says the stock
market is a better indicator than political polls when it comes to forecasting the midterm elections. now that is an interesting idea, the market beats the polls when it comes to looking at politics this november? who is with me for that? i'll tell you. let's bring in event shares cio ben phillips, sitting next to me. ben, welcome to the program. >> thanks for having me. stuart: you look extraordinarily young. >> i am in my mid 30s. etf industry is extremely response i come representing that. stuart: nice response, young man. nice response young man. what do you mean the markets predict elections better than polls do? make your case? >> we seen market leading indicator that is the core thesis we founded company. as far as looking at polls, we actually saw indicators that said, the trump was going to win the presidency. so we were surprised by that but we saw, this was few days
before -- stuart: you saw stock market was saying trump would win? >> stock market was saying, major rotation occurring into the stock market what we deem as republican stocks. those are the ones that make up the gop fund. stuart: what about now? we're what, eight, nine months away from the election. what do you think the stock market is telling us about november? >> sure. so we saw really in january, i think start of the year where we started to see some interesting things. tax reform passed. it had people move on to what's the next thing. we saw the gop fund really start to rally. it was at the same time -- stuart: wait a second. you have a gop fund? >> yeah. stuart: that san etf which invests only in gop oriented companies? >> that's right. stuart: defense contractors? >> republican policies. defense. has big deregulation bucket in there. it has infrastructure. it has tax reform bucket, small energy bucket as well. stuart: so you run that fund. you run that etf it's a gop fund by any other name and you saw money coming into it and you think that is predictor of a
republican win in november? >> more the performance of the underlying stocks in the fund, right. so we saw, after the state of the union address we really saw trump boost in the polls, right? we saw that occur. we saw at the same time republican policies fund really starting to see an up lift. it is up lift in defense names, infrastructure nails, a little bit and deregulation names were also big. stuart: since october of last year your republican fund is up 12%, is that correct? >> 12%. stuart: and the s&p is up 5%. >> that's right. stuart: do you also run a democrat fund. >> we do. the ticker is dems. dms. stuart: and? >> that fund is actually underperforming the market. right in line but definitely underperforming the gop fund. stuart: this is fascinating. this is direct intrusion of politics into the market using the market as a forecaster of politics. >> it is really policy. that is where people are relating it too closely to politics. we think politics is the noise. is really he bait and
distraction for ideas. stuart: the market likes the gop policies. >> likes the policies. likes defense, likes deregulation. stuart: ben phillips, surprising good stuff from such a young man. >> thank you. stuart: that is ageism by the way. i could be your grandfather. ben, thank you very much indeed. thank you, sir. now this, georgia's lieutenant governor blasting delta airlines, threatening to block legislation that benefits the company if they don't reinstate ties with the nra. let's talk to clay tibbets, republican gubernatorial candidate in georgia. clay, do you agree with this political push to punish delta if they don't come back the to the nra fold? >> morning stuart. so, look, i'm a former navy seal. i'm responsible gun owner, so as you might expect i dislike delta's actions but let me tell you what i really think this is about. this is such a great example of crony capitalism. what unfolded here was the
lieutenant governor who has received tens of thousands of contributions from delta alone, was 48 hours away from hand-holding through the legislature special 40 million-dollar a year tax break for delta. it was buried inside of a 100-dollar tax break for the georgia family and sold as the best tax breaks georgia has ever gotten. that is not right. that is not honest. we can't have a situation where we have winners and losers in business in an unfair playing field. can't be working families and small businesses can't afford powerful lobby its to get a difficult deal, and don't have lobbyists "under the dome" to buy and trade. that is what that is about. that tax provision needs to be stripped regardless of out come. stuart: that tax benefit was given to delta for political reasons given the state of politics in georgia, correct? >> i think that was connected, absolutely but i think it is another great example of politicians picking winners and losers in business.
i was a business person. what you want is you want a competitive business environment, you want a level playing field. you want a situation where elected officials and business people pick winners and losers and created a advantages and unfair advantages one over another and that is exactly what happened here. stuart: governors of new york and virginia are courting delta. come on, delta, you come to us. we like the idea that you're going to separate off from the nra what is your opinion on that? >> if you look at states like new york and virginia, these are not great examples of 21st century states. my mission, i want to turn georgia into the first 21st century state. what that means in our state, cutting our state budget by 10 to 15%. improving, investing education infrastructure, putting extra money towards a significant tax cut. having lowest taxes in america. making sure we have low regulatory environment. when we get there, companies in georgi will be proud to stay there and companies from places like new york and california will want to come to georgia.
that is what i think the social to the problem in my state. stuart: clean cut, we like that. you are the gubernatorial candidate or one of them for the republican party in the great state of georgia. clay, thanks very much for joining us, sir. we appreciate your service, too. thank you, sir. >> stuart, thanks for the opportunity. stuart: thank you. two stories out of california for you. actress stacey dash is running for congress in the golden state. dash is a republican. best known for her role in the 1990s movie, "clueless." a former fox news contributor. dash will try to unseat a democrat in california's 44th district. that is near los angeles. then there is this, former california governor arnold schwarzenegger and ohio governor john kasich are teaming up to reform the republican party. is there one? they will headline a event next month for the group. new way california. they are focused trying to make
the gop more popular in california. good luck with that. >> liz: yes. stuart: bernie sanders son, levi i think it is. ashley: levi. stuart: keeping politics in the family. he is running for congress in new hampshire's first distribute. many of his positions reflect the policies of his dad. he ran in 2016 of course, including universal health care, free college, and a higher minimum wage. ashley: gun control. stuart: let's never forget that. we're of course monitoring the billy graham memorial service. president trump expected to make remarks any moment. when he does, you will hear them right here. by the way, the supreme court is hearing arguments in a case involving microsoft. it's a privacy issue. can the feds force tech companies to hand over date that that is stored overseas? judge napolitano coming up on that one. a new survey revealing the best state in the ranks of infrastructure, health care, and education. we'll tell you which state
topped the list. first though, we all know raising a child can be expensive but exactly how expensive? we have a dollar number for you. do you want to guess? we'll have the answer for you next. ♪ [ telephone rings ] [ client ] - hey maya. hey! you still thinking about opening your own shop? every day. i think there are some ways to help keep you on track. and closer to home. edward jones grew to a trillion dollars in assets under care, by thinking about your goals as much as you do. but i'm not standing still... and with godaddy, i've made my ideas real. ♪
stuart: the president of the united states. >> thank the entire graham family for honoring us with your presence here today. thank you. in the spring of 1934, billy graham's father allowed a group of charlotte businessmen to use a portion of the family's dairy farm to gather for a day of prayer. on that day the men prayed for the city. they prayed that out of charlotte the lord would raise up someone to preach the gospel to the ends of the earth. we are here today more than 80 years later because that prayer
was truly answered. billy graham was 15 years old at the time. just a few months later, he accepted jesus christ as his lord and savior. that choice didn't just change billy's life, it changed our lives. it changed our country and it changed in fact the entire world. the north carolina farm boy walked out of those fields into a great and beautiful history. starting at a small bible school in florida he soon led a nationwide revival from a large tent in los angeles to 100,000 people in a single day at yankee stadium, to more than two million people at madison square
garden, over 16 weeks in 1957. i remember that, because my that's right said to me, come on, son, and by the way, he said, come on, mom, let's go see billy graham at yankee stadium, and it was something very special. but americans came in droves to hear that great young preacher, fred trump was a big fan. fred trump was my father. in london, tokyo, seoul, bogota, moscow, new delhi, saigon, johannesburg, scores of other places all over the world, reverend graham shared the power of god's word with more than 200 million people in person and countless others through television and radio where
people loved to watch and listen. in 1978, with the support of the catholic bishop, who would soon become pope john paul ii, reverend graham went to poland and spoke of the meaning of the cross to a people suffering under the soulless oppression of communism. billy graham carried his message around the world but his heart, as franklin will tell you, was always in america. he took his message to the poorest places, to thedown trodden and to the broken-hearted. to inmates in prison, and to the overlooked and the neglected. he felt a great passion for those that were neglected.
everywhere he went reverend graham delivered the same beautiful message, god loves you. that was his message. god loves you. we can only imagine the number of lives touched by the preaching and the prayers of billy graham, the hearts he changed, the sorrows he eased, and the joy he brought to so many the testimony is endless. today we give thanks for this extraordinary life. and it is very fitting that we do so right here in the rotunda of the united states capitol where the memory of the american people is enshrined. here in this room we are reminded that america is a nation sustained by prayer.
the painting to my left is of the pilgrims as they embarked for america, holding fast to the bible, and bowing their heads in prayer, along these walls, we see the faces of americans who prayed as they stood on the lexington grant, prayed as they headed west, prayed as they headed into battle and prayed as they marched for justice. and always marched for victory. around us stands the statue of heroes who lead the nation in prayer during great and difficult times. from washington and lincoln and eisenhower and king. today lies legendary billy
graham, and ambassador for christ who reminded the world of the power of prayer and the gift of god's grace. today we honor him as only three private citizens before him have been so honored. like the faithful of charlotte, today we say a prayer for our country that all across this land the lord will raise up men and women like billy graham to spread a message of love and hope to every precious child of god. thank you. god bless you. god bless america. thank you very much. >> that's the president speaking at the honor ceremony
for billy graham who is lying in honor in the capitol rotunda tilting surrounded by political elites and administration of our government, paying respects to a great man. they will shortly leave the rotunda and one hour from now, billy graham's casket will lie in honor and be viewed by the public. it will be open to the public one hour from now. actually more like 90 minutes from now. i am sure there is a line down the block to get in to see billy graham's casket. we will move on because i want to tell you about what else is happening in this world. right before we went to the president and his speech, we asked how expensive is it to raise a child. i will give you the number from the feds. the cost is about $233,000 for
a middle income family. that's about $13000. year. the biggest expenses housing, food, childcare, healthcare. i don't put much store in these bogus numbers, but there you are. >> we all know by you are happy because your children are all over 18. >> but they are still expensive. all right, moving on. the children are watching this children, by the way bmac they know what you are like. >> they do. we also asked which state is the best state to live in. iowa. have you been there in january? >> i have. it's flat, gray, cold and windy. i will place number one in the ranking. the magazine said the state's infrastructure, healthcare, education make it the best
state to live and work. they don't say anything about the climate. i've got something to say about the climate. it is a great state. i went to the iowa state fair. that's worth going too. look at amazon. $1520. share. they are buying the doorbell ring or which is called ring. they're paying a billion dollars for that. and how about apple? earlier today it reached $180.62. share. that is a new all-time high. apple is doing very well. i want to bring in amplify ceo christian mcginn. i will talk to you about apple. if it reaches $195. share, it becomes the first trillion dollar company. when will he get their? >> i think it can happen later this year. i don't think will happen in the next month but toward year
end they can make a run for it. there's interesting news about the new iphones coming out this fall and their very innovative company. there someone who investors will flock too. but i think it could make it there which would be historic. and if the world's first. i want to ask you about the big picture. it seems like the economy is doing extremely well. can i justify our viewers who want to put some freshman money in the market. >> from an economic standpoint is very rosy. we are seeing low unemployment and nice gdp growth. the issue is will the fed come in and prune the economy by raising interest rates. there is a concern on whether
right now is the best time, not from the neck standpoint and from a monetary policy standpoint. >> i've got to say investors could tolerate if the market could tolerate a 3% yield. currently it's 289, 290. i don't think it's that much of a hiccup when it hits three, or is there? >> i think you are spot on. the market is dipping its toe into market and becoming more comfortable. i think the tolerance could be three and a half or four because of the easing expectation. i think you're spot on. >> christian things for joining us. now this. i have a number for you. the government reported giving companies 1.98 billion in subsidies if they hire foreign
graduates over americans. can you believe that. is that right? >> it is true and i can't believe it because the government is such an enormous bureaucracy that the presidents which is don't always filter down to those were spending the money. there is a supreme court opinion that says the government must spend what the congress appropriate spread they operated this. congress put it in the budget. the president would have to violate the law to stop it and then ask congress to change the law. i imagine the administration has egg on its face that the administration of donald trump spending $2 billion a year in tax subsidies, a reduction in the tax bill to corporations are higher foreign student.
>> unless this came from a previous administration. >> it did. everything being spent is from a previous a ministration. >> they wanted to reward some american companies who go out and get the best foreign talent. courtroom victory for the presidents water wall. a federal judge said construction does not break environmental laws therefore go at it mr. president. >> yes. there will be many more challenges to come but this was the first challenge with a bit of a twist. the judge is the indiana born mexican american judge that president trump said could never be fair to him. this is a significant and profound win for the administration. it's a judgment based on the law. to the congress address the president on their own to
address environmental concerns and california said no and the court said yes. guess where this appealed too? your favorite circuit, the ninth circuit. who knows how that will turn ou out. the president said this morning he was on point to start building the wall until every permit has been approved and it can be built in total rather than building it piecemeal. this actually disappointed some of his supporters. >> about a hundred dollar bill on the table and semi- that the california court will reverse this decision you wouldn't take the bet? >> have you put a hundred dollar bill on this table, i would faint. [laughter] pay attention. the supreme court is hearing arguments with the case on microsoft on whether they can force tech companies to over
data that is stored overseas. >> they indicted swiss bankers for following swiss law in a case with american banking laws. this is the opposite. they want them to follow american laws that will violate european laws. microsoft says they can't give a search warrant because it will violate foreign law. the supreme court has to decide that. i think they will side with law-enforcement. the best solution would be a treaty between the countries. >> you won't get that. >> it won't happen overnight. >> a treaty? two thirds have to great. >> but this would be sensible that would establish
procedures. >> got it. a new poll shows half of americans support universal basic income. that's up from 12% ten years ago. now it is half the people, a universal basic income. you must be dismayed. >> a basic income from work or welfare. >> from the government. >> from what source? the government doesn't have any money. >> all right, china will pay. >> where's that in the constitution. [laughter] >> all right. we're done. about this one. nfl commissioner will try to find cowboys owner $2 million for conduct detrimental to the league. do you think that's good? your crazy. it comes after his anger okay,
i will move on. he's trying to save football and you find him. it out here. papa john's cut ties with the nfl and is replaced with peter which is officially taking over as the official pizza sponsor. there's more. president trump heading to california and he will visit san diego in march to see the border wall prototypes. it will be as first visit to the border with mexico as president. >> he went there in the campaign. >> dicdick's sporting goods is on track for the first gain in two weeks. they are banning the sale of
assault style weapons and will be in the sale of guns to anyone under 21. the inventory report showed a lot more oil in storage and oil is down $61. day bell. price of gold $1300. ounce. 1320 to be precise. >> the mayor of oakland gave advanced warning claiming our community is safer with families stick together. the california small business owner who said no one is safe in california. pennsylvania democrats congressional candidate released a new ad distancing himself from nancy pelosi. even her own party doesn't want to be close. look at the spread the world's largest plane with six engines
and wingspan larger than a football field designed to carry rockets. paul allen is backing this project. he cofounded microsoft. more after this. ♪ ♪ ♪ ♪ with expedia one click gives you access to discounts on thousands of hotels, cars and things to do. like the bicycle hotel & casino for 30% off. everything you need to go. expedia
i'm all about business brief. weight watchers is looking to spend beyond dieting. they are moving forward. they want to be a global destination and partner in health and wellness. they want to target more than $2 billion in revenue and $5 million by the end of 2020 with oprah winfrey as a prominent share holder to go to cruises and other areas to reach another 5 million people. the new ceo has been working to turn around the company removing artificial sweeteners and changing the mantra from not just dieting but health and wellness for weight loss. you know what they say about the early bird...
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driverless cars starting april 2. they up dated the rule requiring a human driver behind the wheel. most cars must have ties to remote operator should they need to take over. third headline, malibu, officially ditching plastic straws and utensils including knives, forks, spoons made of plastic. they have till june 1 to swap out with paper, wood or bamboo products for the big headline of the day from california's this. ice rounded up 150 illegals in northern california and raids. some say the situation is so bad that no one is safe. craig is a small business owner with us this morning. this is dramatic stuff because i've read your talking points. no one is safe. there's a spike in crime, are you relating all of this to illegal immigrants? >> listen stewart, the crime
wave in california is unbelievable. it's a historic type and you won't read in the official statistics, i asked my employees, neighbors, people on the streets what is going on. they all recognize there is a crime spike because of the century city status, because of judicial activists, including just this week a judge who said over 10000 sexual predators and child molesters are going to be put in our backyard. >> i don't understand that. why would any judge release, as you say 10000 people who have a sexual misconduct history, why would any judge release them? >> the ground is under
proposition 47, the early release of the prisoner bill and the general purpose found too many people locked up for too long for frivolous reasons but it wasn't written specifically so that it excluded the sexual predators. the judge said they have to go. this is the problem in california. i just talked to my employees, lower, middle income, upper income, every one of them have neighbors who had their houses broken into, house invasion, car stolen, property stolen, the crime wave is unbelievable. we have early released criminals in the sanctuary cities won't allow it to happen. we are not a safe city anymore. this is because of the liberal politician. >> you've got a small
business, why don't you leave. >> great question. i have looked at leaving, i am that close to leaving, i was born here, i started my business here, we have employees here, i want to work. i just talked to over 100 pastors. they have never been involved in politics before. they want to see change in california. most of them have hispanic fellowship, congregation. they are sick and tired of the attacks on the family by the california legislature, they want to see dramatic change and we are seeing a change. if the california legislature fights taxes and regulations, i have no choice to leave but i do want to try to stay here. >> thank you for joining us. come back and see us again.
>> domino's pizza. i think we have video. they are teaming up with forward, rolling out driverless pizza delivery service. it starts in miami. it's part of a two-month pilot with self driving cars that show up at your door with a fresh hot pizza in total. they will be monitoring human interaction with the cars. i actually have seen those cars and test vehicles. pennsylvania democrat distancing himself from nancy pelosi. he has a new ad and you will see that next ♪ ♪ ♪ ♪ mom, dad, can we talk?
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>> my opponent want you to believe the biggest issue in this campaign is nancy pelosi. it's all a big lie. i've already set on the front page of the newspaper that i don't support nancy pelosi. >> he is putting some distance between himself and nancy closely. the question is, does he regard nancy pelosi as a liability. coming in, horizon investment strategist greg, is nancy pelosi a liability for democrats in november? >> absolutely. maybe not in san francisco where she is from but an awful lot of parts of america she will be a lightning rod for a lot of candidates. there were so many reasons. she said the tax cut was just crumbs. a big story in the washington post quoting people at a shopping mall in indiana saying we have more money in our paycheck, more money to spend. that tax cut is not crumbs for the majority of people. >> i saw that article in a concentrated on jones
donnelly, this democrat senator in indiana who is up for reelection in november and he's tellin having a hard time selling the people of indiana that the tax cuts were terrible because they loved them. >> that was the mantra that they were horrible and a waste of money but people like them. approval has gone up by quite a bit. there's one other thing, it's a delicate subject but we need to talk about it. she turned 78 next month. you and i are still in our 40s so it's not a big deal. [laughter] you get to the point where she 78, her two lieutenants are both 77. there is a need for fresh blood and they're not showing much but you can't unseat nancy pelosi. she is a wonderful moneymaker for the democrat party. since she's been in congress she raised a quarter billion dollars for democrats. you can't just walk away from
that. >> there's a lot of money in california and elsewhere where she's very popular. you are right. you can do, you can put a lot of distance between them and her because i do think, and much of the country, she is a liability. >> at this point, do you think the republicans retain control of the house in november? >> that's a tough one. a lot of angry voters, women, people of color, young people, the only hope they have is that by labor day the economy is roaring and the markets doing well and unemployment is down to 3.5 and they can say it was the tax cuts. >> always pleasure. was good to see you. >> there will be more "varney" after this. ♪ ♪ ♪ ♪ ♪
i've got to get this in. some airlines want to start charging passengers different prices based on who they are. it's all about their fine history. if you been on business class you're going to pay a lot more. if you're a loyal customer you will probably play pay a lot less. i've got four seconds before neil cavuto takes it away and makes a funny remark. >> no, no, that's a lot better than the airline to base it on your weight. [laughter] i always say to those guys, look, let's get this out of the way fast. >> stewart, thank you very much paired we are following a lot of developments including the market. it's a back-and-forth on interest rates. this was the same day the president was giving his respects to a leader who cut across all sides, all clinical viewpoints. this struck a nerve with