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tv   Varney Company  FOX Business  May 3, 2018 9:00am-12:00pm EDT

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american people will have, are they going the actually pay the price for that because other people have gone to jail for that very felony. maria: we would like accountability for abuse of power. >> justice. maria: guys, thanks so much. great show, here is varney & company and stuart. stuart: thanks, maria, he's a visionary, he's a billionaire, he's the tesla king, he just went right off the rails. good morning, everyone. you don't see this very often, the top guy at a big tech company making bizarre statement that is sink his stock. well, that's what elon musk did last night. after reporting a loss of $785 million in three months, he dismissed analysts questions about money. he cut them off, next, he said. how many have taken delivery of model 3 cars, that's what he was asked, another dismissal, boring. he said -- that's what he said. then he took a shot at investors, sell the stock if you don't like volatility he said,
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well, they sold, right now tesla stock is way down, look at that, down $22. that is 7%, huge loss. musk needs to raise a lot of money, his statements are not helping his cause. here is the amazon story of the day, jeff bezos tax refugee, well, let me wind back that down just a little bit. amazon has put on hold it's plan to build an office tower in seattle because that very liberal city will impose a head tax on big businesses to cope with homelessness. it would cost amazon millions. the socialist council member calls amazon's action black mail. three americans captive have been moved to hotel in pyongyang, they may be released as president demanded.
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i call it progress, wait till you hear what giuliani is saying here, wait till you see what amazon is now invading and joe is with us, varney & company is about to begin. note ♪ ♪ stuart: well, look at this, we are going sideways, we are going down at the opening bell. 90 points down for the dow. 23 odd points down for the nasdaq, we are opening lower this thursday morning. now, this, trump lawyer, rudy giuliani sat town with our maria earlier this morning and, boy, did he sound off, roll tape. >> this whole case began as a illegal campaign contribution, $130,000, must have been campaign funds, the money was paid by michael cohen in october of 2016, the president rerim buskerred -- reimbursed him out of noncampaign contribution
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money, private money, his money and did it over a course of 2017. stuart: joining us pete hegseth, welcome to the show. >> thanks for having me. stuart: big show. >> you got a lot. stuart: seems to me that the new lawyer is going to take a much more aggressive stance for the president vis-a-vis mueller. >> that's what we are seeing. the gloves are off and they realize even if there's no evidence of collusion, this special counsel is going after the throat of this president. it is the epicenter of the resistance, they want to find something, they are working to find something, they are building any case that they can. in this particular case, they are clearing a got-you moment, it wasn't campaign funds, even if it was you can give unlimited enkind contributions if you're the candidate yourself. there's no tactical legal doing here even if it doesn't look good in public eye.
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that's what rudy giuliani is doing. that's not the issue. the issue is look at what's happening in north korea, look at what is happening in american standing around the world, look at the economy, the border, this is an american side show. you watch international tv, i had a chance to watch some this morning, they are talking about what's happening around the world in china and north korea. this is an internal game the media is playing with democrats and the special mueller probe to trash the president. stuart: before you leave, i will say it again, if this country tries to remove president for telling a white lie, they'll be hell to break. stay right there. this is for you, son. >> excellent. stuart: release of three americans currently detained in north korea, they are on your screen, they have gone to a hotel in pyongyang before coming here. now that's just an early report. it's a success for the president? >> absolutely. it looks like early indications
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that north korea is playing by our rules which are the only rules we should allow them to play by, give us every concession up up front, get rid of nuclear weapons and then we will take action. stuart: this is unheard of. you demand all of your concessions, we demand of them, give us all now up front, which other president has done that? >> nobody else. stuart: nobody. >> you learned from the previous administrations from the iran deal to approaches of north korea, we are not going to do, do you think john bolton is going to do that, mike pompeo is going to do that, mattis is going to do that, absolutely. they are not idiots. north korea know ifs they stir on the president, they are looking at fire and fury, more than a bloody nose is coming their way. stuart: i'm looking at other channels, going after stormy daniels, that's all it's all about. we have 3 american that is may be coming back to freedom to
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their own country and i want to talk about that. >> i dare your viewers to change the channel, they won't, that's all they'll see for next 3 hours, stormy daniels tv. unbelievable. stuart: we are winning in the ratings. >> of course. [laughter] stuart: thank you very much, sir. total switching gears, tesla burning through cash, lost $785 million in three months, got that, look at the stock, however, elon musk, whoa, did he give a bizarre earnings call, he was calling off analysts, calling questions boring. look who is here, you talk today people in the car industry all of the time, at this point is elon musk the leader that tesla needs? >> he's more interested in the product. he loved talked to youtube analyst. stuart: wait a second. he's not a normal analyst. amateur from outside the
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analytical community. >> asked him interesting product questions. it got him away on how much money you plan on spending this year, how many people are actually turning their reservations into orders, so these are the issues that need to be addressed for the people who own a lot of the stock, wall street, he was rude to them, they are being rude back to them today, you are seeing in stock price. stuart: the man needs to borrow a lot of money. i'm hearing 2 billion-dollars fairly soon. i don't think a man in that position should be saying things like that as he did. will you join me on this? >> one of the big issues that came up last night was on the production end, the problem they are having is in assembly of the cars, they can build the batteries and engines. it's so easy to build car, 100--year-old practice, the fact that tesla can't get the core
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competency down is issue here. they are generating a lot of revenue by selling cars that they are making but not generating enough to make enough revenue. stuart: you, sir, are walking away for the question, is he the right guy to lead tesla at the moment, i'm questioning his leadership, what say you? >> no, he needs to clean up business, they need to start building cars. stuart: is he the right guy to do it? >> he needs to move away from that and focus on the product development, that's what he's interested in, the future dream of autonomous car that is you own or you don't own and you make money from that, even this, last night -- ashley: should he be ceo? >> he came after the media last night. stuart: he's got a wonderful product and he can't produce it. i mean, come on, should he be the ceo in charge at this time? >> no, he needs operating officer that clean that up if nothing else and the fact of the matter is, you know, the ceo should not be sleeping on the floor of a factory.
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others don't do this. stuart: maybe he was exhausted. ashley: he went very trumpian, boring, next. donald trump playbook. stuart: we can all agree tesla makes a fine car. ashley: yes. stuart: got that one right. gary, thank you very much, indeed, sir, good to see you, let's get to china, trade delegation has arrived. it is led by treasury sectary steven mnuchin, connell mcshane is over there, what's the big sticking point, any idea, connell? >> probably two or three, stuart that are big, the one that secretary mnuchin talked ahead of the meetings was the trade deficit and try to cut $100 billion a year out of the deficit. the problem with that, the chinese came out earlier this week, state media and other outlets, we are not interested in talking about that, from the experts we have been talking here no beijing, they lowered the expectations in terms of outcomes from the two days of trade talks, technology is another big one especially the
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theft of intellectual property which we hear about all of the time from the u.s. point of view. what we have not heard is mnuchin, we saw motorcade but we don't have update on how day one went. they met out of place guest house, used to be a residence years ago but it's used these days for things like this, meetings for foreign dignitaries, the plan to have meeting there, dinner, it's probably wrapping up now and get sleep and meet again tomorrow and we are hoping, hoping, we haven't confirmed it yet we are hoping press briefing before mnuchin flies out tomorrow night. stuart: thanks very much, connell. where is the market going to open thursday morning, we will open on downside. looks like we will be down 90 points as we speak, maybe 22 points down for the nasdaq. we have another amazon story for you, it is launching its own brand of pet food. it's going to be called wag as
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in dog. wag as wag. pet owners will spend $30 billion this year on pet food. here comes amazon. politics, marco rubio back-tracking on statements that the trump tax cuts didn't help average person. the tax cuts are good for americans and that's why he voted for them. yes, we are on that story and next, even i know this man, even i, football legend joe namath, he's on the set in new york after this ♪ with expedia you could book a flight, hotel, car and activity all in one place.
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♪ and i recently had hi, ia heart attack. it changed my life. but i'm a survivor. after my heart attack, my doctor prescribed brilinta. it's for people who have been hospitalized for a heart attack. brilinta is taken with a low-dose aspirin. no more than 100 milligrams as it affects how well brilinta works. brilinta helps keep platelets from sticking together and forming a clot. in a clinical study, brilinta worked better than plavix. brilinta reduced the chance of having another heart attack... ...or dying from one. don't stop taking brilinta without talking to your doctor, since stopping it too soon increases your risk of clots in your stent, heart attack, stroke, and even death. brilinta may cause bruising or bleeding more easily, or serious, sometimes fatal bleeding.
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don't take brilinta if you have bleeding, like stomach ulcers, a history of bleeding in the brain, or severe liver problems. slow heart rhythm has been reported. tell your doctor about bleeding new or unexpected shortness of breath any planned surgery, and all medicines you take. if you recently had a heart attack, ask your doctor if brilinta is right for you. my heart is worth brilinta. if you can't afford your medication, astrazeneca may be able to help.
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stuart: a living football legend, welcome back to this program, joe namath big smile, joe, welcome back. >> great to be with you guys. stuart: as you know this is a financial program, i will start with financial question, back in 1965 you were drafted by the jets and you got paid $427,000.
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just a few days ago sandonal was drafted by the jets and got 30 million, how do you feel about that? >> i always did complain about having to spent 25 cents about crossing bridge, our coach used to drive around to avoid the 25-cent toll, the numbers have changed dramatically as we know and -- stuart: you had a lot to do it, popularizing the game in that sense and bringing salary levels up, you did. >> the sport is great entertainment, shows the importance of the industry and people wanting to be entertained. stuart: let's get serious. [laughter] stuart: i'm sorry. eric reid, he filed grievance complaint in nfl, he's saying nfl owners colluded against him and that's why he's not being signed, you know the story, what's your thoughts on it?
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>> well, it's very complicated but it's also very simple too, we have 32 teams, 32 owners and in this world if the employer is not pleased 100% or close to it with an employee they don't let him work. i think in eric's case or kaepernick's case they are good enough players to be out there having a job, why aren't they, i don't know, i don't believe in the collusion, i think the nfl is smarter than that and i don't believe -- stuart: if you were a team owner, would you hire somebody who is in many ways damaged the sport? >> well, i would -- damage the sport, depends on how one looks at this, you see. stuart: ratings are town, you have 9% drop in tv ratings last year largely because of the anthem protests. >> yeah, well, that's an opinionated thing, the numbers may not be opinionated, many
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alternatives for people to look at. i don't think the sport has been damaged personally, the professional sport of football is going to stay and will continue to grow. it's a great sport, people love the game and there's always going to be people wanting to play the game. stuart: okay. >> i want to watch, i miss watching football and i think it's going to be around but the controversy goes on even in the political arena and in the financial world, so, you know, people -- stuart: you're a diplomat. >> i'm aorme f quarterback. stuart: wait a second, the draft was watched by more people on tv, the tv ratings were atron only call for the draft and yet that comes out -- you know what's coming, that comes after the season where tv ratings were down 9%. don't tell me that you can carry this momentum on television from the draft into next season if the anthem protests continue. >> isn't it confusing, we talk
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about the ratings going down watching the game, we talk about the sensational ratings for the draft. stuart: you're dodging the question. >> i'm going along. i'm a little confused with the rating systems and the fans falling off but yet for a draft it's the biggest ever, you know, the most interest and i was watching myself, by the way and concerned with who the jets might go with. stuart: what do you think? >> well, i'm trying to cross my fingers they don't cross easily anymore. it's a team game, you know, stuart, like here you are working with a lot of folks, he looks like he can play and it's going to depend on the rest of the team, the head coach, i didn't see us take any offense linemen and being quarterback you have to be concerned with the offensive line, the whole offense running back, it's a team effort. stuart: whatever you say, joe
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joe. [laughter] >> i will bring socker stuff on you. the joe namath foundation, you're working with the art new york project i think and you have an exhibition, i think it's in new york, all in aid of concussion foundation, you have to tell me about it? >> yeah, for the neurological study for concussions and also for hope for depression people that have had depression over the years, the hope foundation, art new york is down at 94th street, 94th pier94 and 55th street and it's going to have -- we are represented by 95 galleries with over 1200 different artists, 20th century, 21st century. stuart: you are going to be there? >> i will be there. stuart: people will flock to see you, in the green room next to studio, people were lined up with a picture with joe namath,
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they totally ignored me which is so annoying, joe. >> i will be there looking forward to meeting them. [laughter] stuart: i have a lot of nerve, joe namath always a pleasure, great to see you. >> thanks for having me. stuart: there will be more vashy, i promise after this. hi.
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stuart: seattle wants big companies like amazon to foot the bill for homelessness and affordable housing. they got a new tax. amazon says, we ain't paying, no way. joining us king's college professor brian brendberg, in seattle, amazon was building tower that were going to employ 7,000 people but they got head tax coming down the pike and amazon says no, kind of unusual for amazon to be engaged in public spat like this. >> yeah, right. but, no, here is the thing. i hate when cities try to treat companies like slot machines and tax everything they can out of them and they can't do it because companies can move. so i'm with you on that, stuart, on the other side of this, the whole charade that amazon has been going through with hq2 and walking around the country telling cities this is what you need to do if we are going to relocate here, that's just as
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bad as seattle doing what they're doing to amazon. so i look at this and say, you both deserve what you're getting here, keep at it. i will enjoy watching two people behaving badly on how government should work and businesses should work with government. ashley: the issue is homelessness but the fact that city congestion and the fact that rent, office spaces have gone through the roof. amazon employs 40,000 people, it's by far the most dominant employer in seattle, the support, you contributed a lot to the how life has become in seattle and you should pay up for that. >> how hard life has gotten, home values have gone up, oh, my goodness, they devastated seattle. stuart: to me tax revolt, tax exodus story. >> it is. stuart: where are we going to open the market, it is thursday, we will open up in 4 and a half minutes, we will be down, 80 points down for the dow, we will
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be back to cover it after this. today we're out here with some big news. jardiance is the only type 2 diabetes pill proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease... ...and lower your a1c. wow. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. do not take jardiance if you are on dialysis or have severe kidney problems. other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. tell your doctor about all the medicines you take and if you have any medical conditions.
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>> well, i've got 30 seconds before this market opens. so this is called the tap distance which will now last for 25 seconds now 20 seconds. 20 seconds. eat up the time very easily. a little help by charles payne with us this morning.
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with help from ashley. we missed you elizabeth, of course, and brian brenburg is with us so i don't have to reintroduce them after market opens and it will open in five seconds and count warning you it has to be down a little bit here we go bang off it is 9:30 eastern time and immediately we're down 100 points. right off the bat. we're down 107 now, 110, that translates to a downside move of about a half percentage point let's get some perspective there. down it a half percent on the dow. show me the s&p please. where is that this morning? it too is down about .4%. how about the nasdaq where is that? as we speak, it is down about the same as the dow one-half of one percent lower. tesla, you've got to look at that. after an extraordinary yes -- down 20 buck that's a big drop. over 6%, that follows the rather bizarre earnings call from elon
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musk last night. more on that in a second. how about amazon news here -- is that they're launching their own brangd of dog food watch out for competition that's all i've got to say. join me now aforementioned ashley brian and charles i have to start with tesla bizarre earnings court, straight to you, charles. it was bizarre. what analyst or something >> annoyed with analyst and i think a lot of people at this point are annoyed with analysts. honestly let's face it. you know from a ceo point of view first of all i think we make big mistake with quarterly earnings i think it is way too much, and particularly the reaction to quarterly earnings you're ceo of a major corporation you have offense was 40 countries you have got 25,000 employeings and i'm supposed to hit some sort of magical number every three month when is i've got a five-year plan i'm trying to implement. i think we need to get rid of the quarterly earnings period rolling markets too much and investors lose money on emotional selling that's six months later they wish they
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didn't sell. number one, number two, you know, i think you made good points. in fact you can extrapolate with for instance the volatility if you can't handle it in a individual stock in the market maybe it's not the place for you but educate yourself before you make that decision, and look at a long-term trend of the market understanding how volatile it has been and if you pull the the long-term trend you'll see it was worth of riding out. >> that's the financial side the analyst side brian brenburg but leadership side. is he fit to lead their company? >> right as charles is, this is his job. you have to do these calls. you've got to be willing to take tough questions why aren't you making as many model three as you said. why are you burning through so much cash. you don't get to dodge questions and you have to go through details and i get the long-term guy but you have to be able to answer the short-term question. >> i i understand your frustration but i think he gives underlying impression that he's starting to feel the pressure and maybe things set by the media have an element of truth
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to them. >> listen, that caterpillar answer the question last monday about their stock and crushed ever since then. i think it was misinterpreted the answer so it is a tough thing to go through. by the way now we're down 150 point we're open from just a three minutes precisely we're down 156, 27,700 show me amazon please launching own dog food brand brand is called wag -- for the pet food business this is a game changer isn't it? >> 30 billion for the foods and a 70 billion market if you add other products and services into it. 85 million pet owners if they know everything about about you why wouldn't they sell dog food that's a biggest thing your life why not go for that revenue it is an obvious move. stock down just a fraction thoughed a dow is 150 better be organic. no raven tell ray dog food company offered 2 billion dollars. 2 billion because of one over the people paid premium for
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organics, yeah. so better be organic. do you pay -- over the odds for organic do you? >> my wife treats them so much better than me. organic food? >> i don't buy the food but i look at the bill. stuart -- they eat better than i'm eating i tell you better than i am. >> amen i have to move on amazon and wal-mart they're battle to take control of flip cars which is an indian company. both companies want exposure in this huge marketplace. what surprises me is that flip card is only sold for what one, 10, i say that's all but has a billion people. ivetle but it is also you know they're going to have more people than china real soon and hell of a company a country to have a tell then and imagine because china wouldn't allow us to buy their big growing technology companies in -- wouldn't allow competition against most of them so not a great opportunity for either company. >> going to put a chart of the
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dow up over the past month that's pretty much a sideway chart. how do you make money the market where this stocks are going sideways charles? >> two things you have to do you can trade this market and i've been trading it but also the key is not necessarily always to it make money but long-term investor not to lose money so answer to this question might come six months from now. what you didn't sell or panic about but also honestly times to make tough decision and earnings is those times so you can't always make money every day in the market that's the reality of it. >> i gave you the opportunity to plug your own show which is called -- [laughter] making money with charles payne ewe blew it there. low of the day down 175 points as we speak 180 points that puts us back to 27745 big drop this morning. out three quarters of one percent. fitbit they have a weak sales forecast. they're feeling heat from apple and samsung which have somewhat similar capablings on their -- their devices. profits up sales down, at craft
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hines how does the majority take that up 3% they like it. higher profit of the dow component, do you dew pongt higher prices for some products and demand for pacting and paint make up for weak agricultural seg tore in a down market that stock is up a little not much. rosy forecast frozen foods amazingly and pringle snack chips doing well and that in a down market up a buck 40. spotify, taking a hit after its first earnings report as a publicly trade company. it didn't do as well as wall street analysts thought charles another opportunity to bash those analysts. go for it. >> spotify got three upgrades this week including one yesterday where someone put a target of 200 on the stock so, obviously, expectations are pretty lofty also i think they were a little -- ironically the exact opposite of elon musk on conference call. they gave everything they were afraid to be, and you know they've got to find a way to
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both and sell a little bit more. unlike i didn't sell my show they didn't and we paid a heavy price for it. they're not converting free subscribers to the premium that's the problem people want to see that appears if they don't revenue model and profit model doesn't look right that's the reaction. >> a lot of free customers not pay for it sorry that's it how you make money. right now pretty good with the competition. okay got it. >> nobody makes money in that market that's the problem. after meeting with president trump, apple chief tim cook says he's optimistic this is after the meeting with the president, mr. cooke said he's optimistic not gong to be a trade war with china. buy that brian? >> not a trade war but i think he's right actually you have the right people at the table this qook to hash out issues. china will give on some things like intellectual property and not going to give on china a 2025 but you're going get some deal here. china spending hundreds of billions of dollars subsidizing
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chinese companies to be high-tech in 2025. never back away from it. because that's their future. they might give on opening up their market and maybe give a you say give on intellectual property but that is a goal which they will not quit. smg by the way, if u.s. get a good deal on intellectual property that is a win and count it as a win. >> i have a huge number from espn -- how about this? look watch disney first of all they lost what -- 500,000 subscriberses in one month so -- you know how much they've lost in 13 years 14 million -- over the last 7 years that's average of 2 million a year. that's revenue that snot coming at them any longer right because you pay for that. subscribers that's it. 14 million in a half million in one month. >> yes that's an -- running for the exits. i guess people go for streaming -- >> yes. yes. don't forget about the april jobs report that comes out tomorrow. all right put your prognosticator hat on. i'll say 200 report showed us
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something amazing goods producing jobs i call them dirty fingernail job averaging so far this year 53,000 a month. put that in perspective last year are it was 37,000. 2,0062,4 lurks a month up tenfold since president trump has come in this is amazing this is heart land you read the story yesterday. burlington northern getting pipe fitters and bonuses this is the american dream an i'm praying that the federal reserve which bells out wall street to tune of trillions of dollars doesn't think all of a sudden because midwest is getting a piece of this -- action, that they should slow this economy. >> we're down on the analyst and down on -- you're all right steve. you really are. it is that time go to say thank you to brian and charles, we will watch that show. that's an absolute promise check that big board back a little bit, we threw down 170 now down 150. i think this is for you and i ashley -- >> bring it on. royal wedding drama.
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meghan markle brother sending hand written letter to prince harry begging him not to marry his sister. oh -- more on that coming up. hillary clinton has a new excuse for losing the election she says being a capitalist is what cost her the presidency. yeah you're going to hear it and force you to hear it. and we'll be back. into retirement. and market volatility isn't top of mind. that's because they have a shield annuity from brighthouse financial, which allows them to take advantage of growth opportunities in up markets, while maintaining a level of protection in down markets. so they're less concerned with market volatility and can focus more on the things they're passionate about. talk with your advisor about shield annuities from brighthouse financial- established by metlife. when it comes to travel, i sweat the details. late checkout... ...down-alternative pillows... ...and of course, price.
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a history of bleeding in the brain, or severe liver problems. slow heart rhythm has been reported. tell your doctor about bleeding new or unexpected shortness of breath any planned surgery, and all medicines you take. if you recently had a heart attack, ask your doctor if brilinta is right for you. my heart is worth brilinta. if you can't afford your medication, astrazeneca may be able to help. >> back down a but the some more now we're off 188 points at 23,700. a beef recall at kroger, how bad is it nicole? >> it depends if you mind chewing and getting a little piece of plastic while you're having jr. angus sirloin or lean meets that happened kroager is recalling and with the fda the usda they're looking at the foods these beef recalling over 35 ,000 pounds of meat because one customer did find a piece of blue hard plastic in the beef. so you've got to check your
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beef, look at it has a sell by date of april 9th so that is the big pictu you don't really want plastic in your beef. >> no i don't. fuy you should say that. thanks nicole good stuff. meghan markle's half brother -- wants prince harry to call off a the royal wedding you have to tell me. soap opera goes on you often don't get a peek into after the wedding but apparently not in his case. mention meghan's half brother thomas jr. 51 years old lives in oregon. has sent an open letter to prince harry saying in part as more time passes it is clear this is the biggest mistake in royal wedding history meghan markle is, obviously, not the right woman for you. she's jaded, shallow, conceited and that will mac a joke of you and the royal family heritage e he sent that letter to magazine saying i've sent this open letter to royal family. boy, it's ugly. well the tabloids in britain have gone to town on meghan
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markle. and -- >> they do. they live by it, probably going to have in reaction at all from the royal family they'll be honest. it makes me cringe from a distance. kind of makes me cringe. it's a royal wedding folks. come on. >> let's enjoy it getting ugly. it sure is and then there's this -- for the segue move from one subject to another difficult sometimes senator marco rubio senator from florida doing a about face on a tax plan here's what he said. overall republican tax cuts bill has been good for americans that's why i voted for it and of what he told economist magazine a couple of weeking a. joinin us now washington times editor charles hurt. good morning. good morning, sir, i try to move too fast -- trip over myself. i did actually. right. did it somebody pressure senator rubio? j i think that it was -- i think that they were kind of got caught offguard a little bit. his us a claims that he was --
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comment his earlier criticism was taken out of context. but the fact remains he was pretty harshly critical of it. of the tax law that as you point ed out he himself voted for. and republicans kind of need to run this elections -- touting so it was probably not smart to go out into any interview with the economist or anybody else and start chirping about what a bad, raw deal it was for american workers. >> that was the understatement of the decade charles i think, you know, it. all right hillary clinton has come up with another reason as to why she lost the election. [laughter] stop laughing. roll the tape. go ahead. roll it. >> i ask are you a capitalist but with appropriate regulation and appropriate accountability, you know, that probably gets lost, though, my gosh a capitalist. >> all right. i'll go straight to you charles what do you got to say? >> you you know it would be
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hilarious because reasons why she lost i find to be tremendously amusing. but the saturday sad thing about it is probably there's some -- bit of proof to it that somebody who is not a socialist is going to have a very hard time winning the nomination of a major party major political party in our country today. and that's terrifying. that's -- that's an entire generation of people who actually think that socialism is something that works. and that did you want kill hundreds of millions of people. i mean it is terrifying. >> i mean i'm sure you're aware of it but there was a poll that was 1,000 people who was conducted by the "huffington post," and it showed that 470 of those 1,000 people were in favor of the government guaranteeing a job, a government job for everyone. that's a form of socialism by any, any imagination and nearly half of the people responded to
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the poll so they were for it. >> so it's heart of what social schism and it really is. you know, there were a lot of bad things about the cold war and -- a powerful soviet union for all of those years. but the one good thing about it was -- we would hear stories about what a terrible place it was and what a terrible place it was to how unjust it was. how there was no freedoms and it reminded people that that was something we didn't want to have anything to do with. we have an example like that today. it's china and if media spent more time -- you know listing all of the injustices that go on over there, the lack of freedom when you go over there as a visitor, you're advised to not take your telephone with you because, of course, they'll hack into your phone and spy on you. these stories need to be told is that people understand, that is what socialism is. that's what communism is. >> i think they want socialism light -- european style i think they want to make america more like europe
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and frankly ig that's a complete misunderstanding of america. that might sound strange coming from from a guy with a voice like this clearly born and raised in europe but the way i feel i don't think they understand america. >> because you understand it better than a lot of people that have been it here their entire lives. because they don't of think about it and they think that sods good. i like the idea of the government giving out -- you know, being responsible for giving everybody their jobs and determining when we're going to take babies off a of life support and determining -- how long we're going to try to keep you alive and when we're going to give up on that. >> you're a fine american charles, i don't care what they say. [laughter] >> they say a lot. >> i know that. charles you're all right. we'll see you again very soon. thank you, sir. all right where are we now? coming back just a little bit we're still way down there. as i look at it we've got 26 of the dow 30 in the red that means they're down. and the dow is off 160 points. this could be a diplomatic break
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through, north korea reportedly moving three american hostages from a labor camp to a hotel. question -- will they be set free president trump says -- stay tuned. prudential asked these couples: how much money do you think you'll need in retirement? then we found out how many years that money would last them. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to, but when we could live to. let's plan for income that lasts all our years in retirement. prudential. bring your challenges. my secret visitors. hallucinations and delusions. the unknown parts of living with parkinson's. what plots they unfold, but only in my mind. over 50% of people with parkinson's will experience hallucinations
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>> coming back a little not much.
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down 135 we remember down 180. tesla, ouch. burning through cash, and e chief elon musk gave bizarre earnings call investors don't really like it the stock is still down 18 dollars. the president trump tweeting about north americans hostages in north america as everybody is wear past administration has been long asking for three hostages to be released from a north korean labor camp but no no avail well stay tuned. joining now is the author of the great book, nuclear showdown, north korea against the world is that the right title gordon? >> takes on the world. [laughter] gordon welcome to the program do you think we'll see three peel released soon? >> yes. i think that we will. north koreans have been making confessions before they see president trump and they've been doing this noir the last 14 days starting two saturdays ago with the suspension of the missile nuke test and more so on last friday when kim jong-un the
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north korean ruler talkedded to the south korean president and he said something really startle ising he said i'm going give my nukes as well as the u.s. will do two things pledge not to attack north korea and sign a peace treaty to ed korean war if we had gotten there after five year ofhearted discussions we would have thought it was a great victory now kim might not be serious but the point is trump is forced him into saying things and these create markers by which we can hold him to. >> here's what general jack keane iblg he told you ashley yesterday -- or general jack four star retired general said it is starngd procedure for north koreans to take who is tamings out of a labor camp put him in a hotel, fatten them up literally. release them and tell them, don't you say a word about us and how nasty we are because we know relatives are are. >> and these three are all kill and ethnic korean, north koreans can do that so we've seen this in the past also they bring them because they want to have a
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really sort of televised moment. they can't do that out of labor camp when they don't want us to see so they bring they will to the capital but you're right they want them to look better than they were week ago. ening now there's one other issue here toipght raise with you name is david snowden sorry david tell me the story please. >> he was mysterious disappeared in southwest china in 2004. people had had said that he is in north korea one person has spotted him there. not a reliable report but nonetheless that's the reporting. also, his disappearance fits the pattern of north korea taken foreigners to need language instructors so i think the president, our president should get from kim jong-un a statement about whether they were holding david or not. also, the jazz abductees remember when president trump met abe in last month, and president trump said something really startling something very
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important. he said, i pledge to the japanese people,ly get your abductees back. so there were a lot of people in north korea that we want become and i'm really happy to get three americans but that's not the full story. >> but you won't get them back without strength from president trump. bottom line isn't it? and thing that north koreans are making confessions before this is really something we haven't seen. chght right are. gordon name of that book again nuclear showdown north korea takes on the world. >> yes. i knew you would get it right. [laughter] gordon thank you so much. next case nancy pelosi, she says that democrats will win and she is going again. a lot of democrat candidates are running against her democrats in disarray. my take on that. top of the hour, here we go.
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stuart: this week nancy pelosi came to new york. and announced the appointment of three committee chairs, powerful
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positions. all went to house democrats in their late 60s and 70s. miss pelosi herself is 78. a younger generation of democrats is iger for change. they want new, younger leadership. they're not happy with nancy pelosi's stated intention of returning to the speakership. as the november elections approach "the washington post" found 20 candidates who will not support her. there are surely more to come. in short, there is a split. in the run-up to the elections, democrats will have to fend off republicans who will attack pelosi's crumbs comment. conor lamb won in pennsylvania in march, partly because he expressly opposed pelosi. many others will follow that lead. they owe her nothing. but they can't be too vocal. nancy pelosi has a great deal of power. she decides who gets which committee appointments. that is important for up-and-coming politicians. she raises an enormous amount of
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money. that gives her power too. fascinating, isn't it. the democrats are stuck with leaders who have been around for a long time. they want to attract voters with new candidates and new ideas, but they're having a hard time putting forward new faces. miss pelosi will use every ounce of her power to stay in her leadership position and return to the speakership. now conventional wisdom has it that the democrats are a shoo-in to win back the house in november. that is conventional wisdom but with a generational split, they may be counting their chickens before they're hatched. here is what 34-year-old democrat dan mccreed did i has to say. quote. i think we need a whole new generation of people in d.c. that is partly why i'm running. we need some new blood. nancy pelosi should be listening. the second hour of "varney & company" is about to begin.
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stuart: this just in, it is mortgage rate time. ashley: down a massive three basis points, 4.58% last week. year ago at this time it was right at 4%. so we're up half a percent this year. that said it hasn't hurt demand for houses at all which reflects strong consumer confidence. we know there is not enough houses on the market right now. prices have gone up. people are still trying to buy even though the mortgage rates are massive -- stuart: that character said this just in. ted baxter. ashley: mary tyler moore. stuart: not exactly my idol. but let's get serious. tesla, burning through cash. chief elan musk is giving a earnings call as as people say t
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is flat-out bizarre. susan, you did this, didn't you. you were on the call. >> i was on the call last night. we listened to a lot of earningses call, i thought they were dry, orchestrated affairs. not the case, very entertaining from journalism perspective. stuart: we heard an analyst would ask a question. >> very combative. especially when it came to capital questions. first of all he was very terse responding to a question, asking do you need to raise more capital. bernstein asking about capital requirements. he says to the operator, move on. we're moving on. boring bonehead questions we will not listen to. if you can't stomach volatility, don't buy our shares. another question that was asked is, do you feel you have a moat around your company since it is so unique? he didn't like that. he said moats are lame.
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who says moats are lame in the business world, stuart? stuart: you were listening. you were on the conference call. lots of other people there. could you hear their reaction? >> you could hear, people were a little shocked. they didn't know how to take it at first. when analysts started being cut off, the next person asking a question were very, shall we say, they were tiptoeing around, you know, this question pleasing to mr. musk. irk i heard some of the sound bites from the call. >> yeah. stuart: to be honest, sounded like he was exhausted. >> i would say yeah, that would be true. there have been questions about whether or not was he exhausted. is there something else at play? yeah. stuart: but you do, you listen to conference calls a lot. >> a lot. stuart: i bet you never heard one like that. >> i have to say, when you do, you think, maybe all conference calls should be like this. stuart: they're entertaining. >> that was very entertaining. stuart: not good for the stock. we'll see you soon. all right.
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gary kaltbaum is with us, kaltbaum capital management kind of guy. let's ask you, is musk the right person to be leading tesla at this point? >> look, i don't think he was exhausted. i think he is feeling the pressure and leave no doubt, they are going to have to raise more capital. they floated bonds. they have done secondaries. all they do is continue to lose a ton of money. you combine that with valuation which by the way before this morning was the same as gm, even though gm has 12 times more sales, i think there is some trouble that lies ahead and he is going to have to get in front of it and look, when you do a conference call, tell people not to buy your stock, not a smart move, if you're the head honcho, top dog, big cheese. stuart: i take it, a, you don't own the stock and b, you have no plans to buy it? >> correct and correct, but they do make pretty darn good cars i must say. stuart: yes, exactly. it is a fantastic product.
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i never driven one, i heard a lot about it. great product. they can't make enough of them and haven't got the money to keep making them. that is extraordinary problem to have. >> every time they make one they lose thousands and thousands of dollars. the business plan is not working. something else has to change or else. stuart: full. stuart: disclosure, gary kaltbaum, do you have a tesla? >> i do not. i was in one of my buddy's two weeks ago. it is fantastic. it sings to you when you click a little thing. stuart: i hear acceleration is crazy, 0 to 60. >> fastest car i have ever been in my life. amazing. stuart: you should buy the stock. i'll move on. the market, it seems to be going sideways since hitting highs in january, coming down, we've gone sideways. how do you make money in a market like this? >> you're just more patient at this point in time. i've been saying for weeks now i expected months of sideways
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action only because for 15 months from the election to january 29th, we had about six years of gains. so this is normal right now. the big question is are we going to break significant point to where we're going to right now. if that happens, we'll see a drop to about 15 to eight 10:00 peers from the highs. we have to worry whether we're going into a bear market at 20%. i'm not thrilled what i'm seeing. what you need to watch definitely is the financials. they're on the cutsp of breaking some putt big support right here, if they break i think the market has more trouble and we head into the mid-teens. stuart: mid-teens that would be 17, 18,000 on the dow? >> no, that would be in the 20s, 21, 22,000. just remember, this is normal. after big runs you do get this type of action.
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when we had the big run in '13 and '14, we had 18 months of trading range with two big drops to the downside that took the russell 2000 down 30% but dow, s&p, down 18%. there is nothing wrong with this. it wipes smiles off bulls faces and prepares the market for another leg up when it is all said and done. the big we are we going into a bear market which we're way overdue from nine years of central bank intervention. we shall see. stuart: the trouble we got spoiled. every day for the on this program, for better part of 14, 15, months, we went straight up. it was exciting to watch it go and you got involved for that. >> we didn't any drop for 16 months. that is the most amazing thing i've ever seen. why we're getting this correction, it gets people on the little comfy couch, thinking nothing can go wrong with markets this is normalization of all that at this point in time. the most important part of the
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occasion, we don't know how far down it is going to go, i believe question could be in here in october talking about trading range or lower just because. stuart: okay, gary kaltbaum. we hear you. bring our viewers up to speed exactly where we are on the market right now. gary, thanks for joining us. we'll see you again soon. we have a loss now on the dow of 160 points, okay? we're back to the 23,700 level. as you heard from gary kaltbaum here he is expecting it to fall back to 21, 22,000. we shall see. right, let's get an update on that caravan, the migrant caravan. what have we got, ash? >> is intesting. i'm looking at latest numbers. one hundred people waiting to be processed. 53 people in the caravan are in the middle of being processed. interesting 11 have been arrested for trying to get into the country illegally. one which has already done this before, he has been deported before. jeff sessions, the attorney general, has sent more immigration judges to the border.
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18 are there now. 35 attorneys in all, there on the border to process these people quickly. that process is ongoing. there are still 100 waiting to be processed. stuart: governor you, ash. this will be a must-see if and when it happens. a white house summit is in the works featuring kanye west and other celebrities and athletes. we'll try to tell you a bit more about that. and there is this, amazon construction stop construction on -- stops construction on a new office tower with in seattle after the new home less taxes. more "varney & company" coming your way. ♪ i am an independent financial advisor. for our firm, it's all about trust and transparency. trust that we do what's right for our clients,
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stuart: itown 's a dy. we're off now 200 points, 23,722. here are the dow 30. 26 of them are in the red. they're down. where is gold on a day like this? not much changed. it is up 10 bucks at 1316 an ounce. pastor darrell scott, he is a friend of this program. he is proposing a summit on race at the white house between prominent athletes and artists after kanye west came out in support of the president. what do we know? ashley: this is interesting. the pastor meets with the president today. considering multiple summits on race. this will be between president trump and prominent athletes and artists. it is, this is how the pastor puts it, and this is interesting. it is going to be he said, unscripted, unfiltered, blunt. no topic is off the table. which is just how mr. trump likes it. let's be honest. it will be interesting. we have no dates. we have no word who may take part in these summits.
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that is being sorted out today. we could get announcement which would be very interesting. stuart: surely would. that is fascinating. all right, next case, more than 60 conservatives leaders signed a letter demanding an end to censorship. we have brent bozell, media research president. brent, you're right there is liberal bias and anti-conservative bias. how do you protest to fix it? >> i think it is worse than a bias, stuart. it is censorship. conservatives have had a problem with the liberal news media overbias. this is different. for the first time also to understand the scope of this problem never in history has there been a threat of censorship worldwide. these are worldwide platforms. we studied 28 different
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accusations of censorship and in our analysis was pretty telling. in 14 cases we found absolute evidence of censorship. in nine cases we determined it was inconclusive because you could look at it two different ways. in five cases we found that it was questionable. but when 50% of the accusations are proveably true, then you've got a real problem with conservatives being censored out of the public conversation. let's face it, social media now accessed by billions worldwide, one could argue is the conversation of the future. so just think about that. conservatives being banned from the conversation. stuart: on a global scale. i think that is a very good point to make, brent. facebook, they say they're doing something about it. they hired former arizona senator jon kyl to audit political bias. does that take us anywhere down the right road? >> we don't know.
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first of all facebook is making a public gesture about trying to do something about this problem and that's good but we have four recommendations. one of them is clarity. what in the world do they mean by hate speech, which is the big, big word? the second one is transparency. this will answer your question. how exactly is facebook running its business? nobody knows. nobody knows who is making what decisions inside. before you know that you could put lipstick on a pig and hire all the lobbyists in washington but you'll never know. third, conservatives do not have to have a seat but equal footing in this industry? advisory capacity. we outnumber liberals, if you represent the market conservatives should have a bigger voice there. fourthly, abide by the first amendment. just follow first amendment principles and you'll be okay. stuart: the word hate speech, that's the key isn't it?
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that is the way you're always shut down. that is hate speech, shut up, get out of here, that's the key! >> now let's look at that. you have advisory groups like the southern poverty law center which is a radical left-wing organization that thrusts the word hate speech against things like christians. so they're serving in an advisory capacity with some of these entities. they're defining what hate speech is. this is dangerous. let them tell us. by the way, it is not these giants, also service companies like paypal. they're participating in this as well. this is serious stuff, stuart. stuart: yes it is, on a global scale. as we say it again, brent bozell, thanks for joining us. always a pleasure. >> thank you, sir. stuart: senator marco rubio changing his tune on president trump's tax deal. what the president, sorry what the senator is saying now coming up. check that big board. new low of the day. we're now down 224.
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just dropped below 23,700. the dow is really on the downside this morning and keeps on falling. we'll be back. ♪ running a small business is demanding. and that's why small business owners need more. like internet that's up to the challenge. the gig-speed network from comcast business gives you more. with speeds up to 20 times faster than the average. that means powering more devices, more video conferencing, and more downloads in seconds, not minutes. get fast internet and add phone and tv for only $34.90 more per month. comcast is building america's largest gig-speed network to give small businesses more. call 1-800-501-6000 today.
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xfinity. the future of awesome. stuart: low of the day,down nearly 250 points. if you look across the board, almost all sectors of this market are on the downside this thursday morning. how about fitbit? they gave a weak sales forecast. don't do that. they will take you to the cleaners. it is down nearly 10%.
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they're feeling heat from apple and samsung which have similar capacity on their phones to what fitbit can do. want to get back to my editorial at the top of the hour. democrat candidates, a lot of them running against nancy pelosi. joining us now oklahoma congressman steve russell. you're an oklahoma republican, sir, and i put it to you. you can't lose, can you. >> well, you never take anything for granted but i also think that mrs. pelosi's party needs more than just an absence of her. they need to change their entire philosophy. as you were commenting on earlier, stuart, look, they can't silence free speech. they can't eliminate the free exercise of religion. they can't deny our right to defend ourselves. they can't usurp our property and take away our state's rights under the tenth amendment or even under the ninth amendment where rights of one somehow cancel out rights of the other. the progressive party has an awful lot to work on before they will convince mainstream america
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that is the direction we should go. stuart: but, conventional wisdom at this moment, and a lot of polls suggest they will win back the house in november. do you think they're counting their chickens before they're hatched? >> i think they're counting chairmanships before they hatch, certainly with mrs. pelosi. this is the same prognosticators had mrs. clinton elected before she ever became president. oh, she didn't become president. so the mood of the people out there oft times is not red correctly. we've seen that in recent elections. stuart: your opponent in november, that person running with nancy pelosi or running against her? >> well there are six democrats currently running against me. they are various degrees of far left. i think, the terms of independents, we have a lot of independents in oklahoma city. some of them are running more to the middle but we continue to show you that democratic party
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in oklahoma, they nominated bernie sanders for the presidential nominee, not necessarily because they liked communism but because they didn't like mrs. clinton. so there is a real dilemma there. stuart: do you think bernie sanders is a communist? >> socialist is probably the more accurate word but you know, all i know is if he became president i would have loved to have been his secretary of free stuff. i'm not sure how that was going to be paid for. stuart: you got to you, an oklahoma republican, any democrat is a come my ping cobbed -- a commie, pinko bed wetter. i don't mean to be pejorative but any democrat is too far to the left, isn't that true. >> that is not true. i have a lot of democrats that support me. my mom is -- my dad is a
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democrat, my mom is republican. our national security, our foreign policy, it is the economy as they, you know, as he said, it is the economy, stupid. americans want to see it go in a positive direction. they are tired of americans apologizing for, americans. stuart: i think that is true. steve russell, thank you very much. thee american hostages in north korea can be closer to release. general jack keane has more on north korea and hostages coming up. interesting stuff. another check of the market shows another new low for the dow. we're now off 268, well over 1% down. we'll be back. ♪ hi, i'm bob harper,
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stuart: this is probably my all-time favorite. she was just seven teen, you know what i mean. let's move on. ashley: yeah, please. stuart: family show. this is not the low of the day but we're close. we're off 273 points. why are we down so much? good question. there are trade fears, as our chief trade negotiators arrive in china for the first days of talks. and caterpillar, which is a dow stock, has been downgraded, and it is down about 3 1/2 peers. look at that 3 1/2%. that take as number of points off the dow. there you have it. we're at 23,600. we're off pretty close to 300 points. show me the big tech names. i always want to see what they're doing in a market like
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this. at last count they're down, all down quite significantly so. got it. amazon fighting seattle's tax proposal. they will hold construction of a tower in the middle of seattle i believ i tnk that i where it is. deirdre bolton has been following this for us. so they have got a tax comin in, a head tax, right? >> new way to negotiate, right? amazon and the seattle city council were fighting quietly behind the scenes and the city council decided to go public. the city council says if you have a business makes more than $20 million a year annually you need to pay a head tax per employee of $500. amazon has 45,000 employees in seattle. it is the largest employer. so that gives amazon a bill of between 20 and $30 million per year. now you know that amazon is also shopping for a second headquarters. so i think amazon's leverage here is saying, oh, you don't like us anymore, seattle. that's fine. we already announced we'll hire
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more in vancouver and boston. maybe we'll pick another city in north america and take more jobs out of here. stuart: they will not pick a high-taxed city or state if they're treated like that in their hometown of seattle. >> that is true. one of the other subtexts point out discrepancy between tech companies and executives who are living very nice life-styles and growing population of homeless in seattle and in san francisco. stuart: that is the not technology companies fault. >> it is not at all but seattle city council is saying if you're here, you need to help us out with this homeless housing and -- stuart: the city council created this problem. there is a socialist a, a young lady who is a socialist on that council. she is flat-out socialist. tax everything. redistribute everything. >> build housing. what they want to 1800 local housing units for the homeless this is just a negotiation that has gone very public.
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there is a vote on the 14th of may. my guess they will compromise. both sides decided to go public. stuart: i hope amazon just leaves. just leave. you want my money. you work for it. don't you tax me like that. i'm a little upset about that. deirdre, tanks very much for being with us. >> glad to see you. stuart: three americans detained in north korea release is coming very soon. general jack keane, fox news senior strategic analyst. you told ash webster something yesterday afternoon. i want to you repeat it. how the north koreans manuever hostage situations. tell me about it. >> first of all, they're likely in a labor camp where the conditions are absolutely deplorable. they're tore -- tortured. there are continue sexual assaults and don't give them medicine when they need it.
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it is very, very harsh. probably a harsh as condition exists in the world for people in captivity. when you bring them out, what they're trying to do is, recover as much of that as they possibly can, treat them medically to be sure. stuart: fatten them up. >> also give them some food and some nourishment, add a little weight to them, maybe them a little more presentable than what they would normally be. also they call it, deal with them idealogically. what that really means, translation, they will threaten them. if they have any connections in north korea as they leave, they will threaten their lives about what? they don't want them to reveal to the american people and to the world at large just how deplorable those conditions are because their prima facia evidence of this brutal regime. stuart: do you think we would be in this position now where north and south have met, where one nuclear facility being gotten rid of, no testing of missiles, and maybe the release of these three hostages would we have
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gotten to this position if it wasn't for president trump and the strong position he has taken? >> no. absolutely. this is all about the president's change of policy under strategic patience under obama. began it last january. maximum economic pressure. the credibility of a military option isthe table. they understand that. this, kim jong-un has been racing for the last 90 days and it is the most diplomatic blitz i ever seen to convince this administration he is serious when it comes to the talks about denuclearizing. that is why he is making all these concessions. pompeo, bolton, all suggested it would be a sign of good faith before the negotiations began you release those hostages and he appears to be doing that. stuart: does kim jong-un worry military that america is strong enough militarily to knock him
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off? >> the president's actions, not just words, two strikes? syria, helping ukrainians, the president is willing to use military force at times to reinforce our diplomatic effort, that has got their attention. stuart: they never know quite what he will do next? >> well, he has a tendency to do what he says, my judgment. stuart: i have to ask you about a suggestion from president trump just the other day, it seemed to be almost offhand about a space force. watch this. >> and we're actually thinking of a sixth and that would be the space force. does that make sense? the space force, general. you probably haven't even heard that. i'm just telling you now. perhaps because we're getting very big in space, both militarily and other reasons. we're seriously thinking of the space force. stuart: what do you think, general? >> we're not quite ready for
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"star wars" but, listen, space is a domain we will fight in, to be sure. congress is pushing this. the pentagon wants to slow this down and assess it, which would be typical of the pentagon. we're years away from actually having a space force but operating in space with real capability, we're there. stuart: general jack keane, always a pleasure. >> always good talking to you. stuart: let's go to the ohio senate race. we had ohio congressman and senate candidate jim renacci on the show. he has been endorsed by president trump and he is running on trump's platform. joining us now, melissa akerson who is a senate candidate. you say you're a conservative, a conservative alternative to jim renacci. are you a firm trump supporter? >> oh, i'm a firm trump supporter. i will tell you that i recognize mr. trump and president trump gave mr. renacci endorsement, unless the endorsement came with a magic wand to create a
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formidable opponent for senator brown. that endorsement will not help mr. renacci. unlike jim i've been on the campaign trail eight months, getting out to the voter. i can assure you with certainty, the ohio voter is not looking for business as usual. that is the exact reason president trump is in office. stuart: when you say not looking for business as usual, they're looking for a different kind of leadership, is that how you would see it? >> yeah. it is exactly how i would see it. jim renacci is a sitting congressman. his voting record in general, he has rated more liberal than mitch mcconnell and john mccain and i'm rated the most conservative in the ohio senate race. that is what people are looking for in ohio. you know senator brown has been in office since 1974. it is going to take an absolute formidable opponent to go up against brown to take him out. he champions himself as friend of the middle class. this is what it looks like when the peasants rise up against the
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senator browns of the world. we inspire a grassroots candidacy. we really take the world by storm by saying we're not putting up with this anymore. stuart: are you sure about that? are you sure that americans at this point want to go more conservative? because there is all kinds of polls saying they want more big government. they want to tax the rich. you hear that all the time. >> yeah, i have to go and rely upon the last eight to nine months that i have been out on the campaign trail, seven day as week, day in, day out, working with the ohio voter. it is interesting, because my time in the private sector i was in manufacturing and distribution for many years and then i'm a small business owner currently and what i will tell you from the groups that we meet with, despite their political affiliation, big government involvement and intrusive policy is the last thing that the ohio voter is looking for. they want a formidable opponent to go against senator brown and to remove him from office. that is not going to happen with
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jim renacci or the other gentleman in the race. you can't dumb millions into a campaign to produce what i will give the public naturally. we're seeing that in this race. stuart: thank you very much for joining us this morning. i am sure we'll see you. >> god bless you stuart. stuart, god bless you. take you to the dow and new low of the day. we're down 325 points. apparently worries about china trade. we do have caterpillar sharply lower. it is a dow stock. that is taking a lot of points off the dow, down 330 as we speak. >> partly we haven't had headlines yet, even though the u.s. trip out there has already had their first meetings, got nothing out of it, perhaps giving a sense nothing has been accomplished. stuart: we shall see. that is a concern. hillary clinton says a big reason behind her loss is because she is a capitalist. i promise we'll play you the sound bite. we'll play it for you next. ♪ mgx minerals' disruptive technology can extract lithium -
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♪ ashley: in the last hour football legend joe namath told us the nfl may have seen some ratings fall-off but he believes the league has not been damaged. roll tape. >> well that's an opinionated thing. the numbers may not be opinionated because they can be down. there are so many other alternatives too for people and sports fans to look at. i don't think the sport has been damaged personally. the professional sport of football is going to stay and it is going to continue to grow. it is a great sport. people love the game. there is always going to be people wanting to play the game. i want to watch. i miss watching football. i think it is going to be around and but the controversy goes own even in the political arena and in the financial world. ♪
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stuart: it's a selloff. we're down now, look at that on the left-hand side of your screen those are the 30 dow stocks and every single one of them are on the downside. they're all down. the biggest loss is caterpillar, which is really taking steam out of the dow which is currently off, excuse me. ashley: you're choking up over this? stuart: i'm choked up. when i see red like that. that is terrible thing. ashley: may day. stuart: we're down 338 points. now this, florida senator, republican, marco rubio initially slammed the trump tax
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plan. he said it didn't help all americans. then he backtracked. look at this quote. overall the republican tax cut bill has been good for americans. that is why i voted for it. joining us now, virginia congressman dave brat. congressman, can you explain, i can't get inside of his head, why didn't he say that in the first place? he voted for it. he is not running for re-election in november but he came out against the tax plan, why did he do that? >> right. he may have future plans we don't know about, could be one guess. doesn't make any sense. i'm going around the district. i visited 350 stops in the last year. i have yet to meet a small business person who hasn't given me very big news. i was with crushed gravel, landscaping folks, quarterly tax payments are being made now. they're get a huge benefit. especially people with immediate expensing of capital, those folks are way off. it is not just about the
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individual folks. the mainstream media gets wrapped around the axle on that. all the people are hiring new kid out of college i taught for 20 years. new pickups, new heavy equipment, that creates more jobs. it is going to expand. by november i think the good news will be all-in. the american people will be able to show their affection for our party. i think it is going to go well. stuart: okay, so, you're a little concerned, surely at this moment, it is now may, the tax plan is underwater in terms of popularity. you got to be a little concerned about that? >> yeah, i'm a little concerned but there has been no capital data out yet, right? we have not seen the capital investment data. capital is the number one cause of economic growth. then human capital and technology. all of that is wound up. the stock market is forward-looking indicator. when we passed the tax it shot up indicating future earnings. everybody in business knows what
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is coming. their employees are getting the word. our sales are up. are things moving? are you selling? are expectations positive? , yes, yes, yes. we're waiting on the data to catch up but they're coming. stuart: dave, you're a thorough-going capitalist. >> you bet. stuart: i want you to listen to what hillary clinton said about capitalism and the election. roll tape. >> right. >> i'm a capitalist, yes, but with appropriate regulation and appropriate accountability. you know, that probably gets lost, oh, my gosh, she is a capitalist. stuart: she does make a fair point. if you're on the left, if you're on the democrat party, you don't say i'm a capitalist, do you? >> no. capitalism has gotten a bad name. adam smith wanted competition of a lot of small firms duking it out. unfortunately due to the swamp in d.c., if you have a lobbiest, you get big business is protected from all the regulation and bureaucracy.
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the small guys can't handle the contics. we have small banks going out of business, one a week. so we're trying -- capitalism shouldn't be about the big guys at the end of the day. it should a lot of small firms producing variety of products for a low price for the american consumer. we have to pay attention to nfib and small business groups so capitalism regains the good name. stuart: why did she lose? was it because she was a a capitalist or didn't go to which is or called people like us deplorables. what was it? >> she may say she is a a capitalist in retrospect. the democratic party has not had a pro-growth regime for a while. you throw that with issues like immigration? where is the democratic party looking out for the poor? the democratic party looked out for big labor, small guy, blue-collar labor. now they are into the identity politics direction and leaving
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behind the working man and women. that is where she lost. she lost michigan, wisconsin, pennsylvania, ohio, et cetera. that is the backdrop. and she made the wrong decisions. the democrats are going further left right now and in addition to that there is some political corruption, right? we have the fbi stories and all this, bernie, the election was rigged against him. that is well-known now. that added to cynicism on that side. stuart: dave brat, i have to leave you to get back to the market which is sharply lower. thank you for joining us, sir, appreciate it. the market is way down, but i'm saying europeanoccer is e most exciting, most money-making sport in the world. i will make my case forcefully moments from now. and a government job for every one guaranteed by law. according to some new polls out that is what people want. my take on that, top of the hour
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stuart: well it was on fox sports 2 terrific semifinal games, liverpool and real madrid went through. they compete in the european championship game later this month. believe me, folks, it was on fox sports. it was fantastic soccer. jared max is with me, sports
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reporter for fox news and all kinds of places. i maintain that european soccer at this moment is the most exciting sport on television. take me on. >> i was really locked in last night. john karl lows stanton has been a 25 million-dollar bust for new york yankees. did you see what stanton did last night in houston? stuart: what are you talking about. >> had playoff field. they met in the american league championship series. they will do it again. this guy is for real. stuart: you combined, coordinated with our producer justin to ambush me. >> stuart, i don't know anything. stuart: run video of the soccer, the really good stuff. run that for heavens sake. roll that now. ashley: [laughter] >> stanton, he is coming together. ashley: you've been "punk'd." stuart: if you watch a soccer game. there is no commercial interruption. >> i like that. stuart: fast play, constant action.
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13 goals were scored in the liverpool roma. >> two games. why must they wait? i don't like this, may 26 is the champions league final. that is long period. americans want it now. stuart: oh, that is the weakest comeback i ever heard. >> did you know -- stuart: soccer beats stanton. look at that goal! did you see that goal. >> lebron james owns 2% of the liverpool squad. ashley: yes. >> he really does. his investment, what lebron invested 6 1/2 million. now said to be worth for 35 million. ashley: that will pay for one salary. >> lebron, basketball. stuart: you will never eat lunch on this set again. thank you very much. the dow is almost down 400 points as we speak. big deal, we'll be back to cover it in just a moment.
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. .
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stuart: i think we've got a problem, a lot of people seem to have forgotten what created a prosperous, dynamic, free
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america. a poll of 1,000 people found 470 of them support law that guaranties a job for every american adult. now, that's a very small scale poll and was conducted by the left-leaning huffington post. they're not being dismissed. in fact, there's a growing body of support within the democrat party, these government guarantied jobs would be government jobs at wages way above poverty level. supporters say government workers could repair roads and bridges, provide high-quality dk services and wait for it, rehabilitatate our damage postal system. [laughter] stuart: whoa, that's from professor william darity jr., repair the postal system, has this guy not heard of fedex?
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he wants to giver every single adult age 64 a thousand dollars every month. that's the guaranteed basic income idea. mark zuckerberg talked about it too and bernie sanders, he wants a government guarantied job's program. first, who pays, the rich, of course, you know perfectly well middle america will be footing the bill too, why do we need it when we have full unemployment because income inequality is holding us back and most important of all, it's a moral question. why is it okay to take income from my labor to subsidize the labor of other people. i don't think america was built like that. when i first came here, i was a waiter, i needed money, i worked, i competed, i moved up the food chain. it's called the american dream. a handout like a government job is an american nightmare and who
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among us wants to be beholding to a socialist politician? third hour of varney & company is about to begin. ♪ ♪ stuart: first look at this, we are on the downside, that's a big time, 29 of the 30 dow stocks are in the red, proctor&gamble just turned to upside. come in, analyze the market today, please, what's going on, why are we down so much? >> you know, it could be more of the trade fears, there's an article in the wall street journal this morning that did suggest that the u.s. and china are in a collision course on trade and some kind of trade war is inevitable, at least that's the way i interpreted it.
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stuart: is that it, talk in the journal of maybe trade problem, that takes us down nearly 400 points? >> it's possible. you know, keep in mind, i've been on your show before and i have been worried about an outright trade war with china. i think that once president trump understood that 90% of trade deficit essentially is really with china and forget nafta, forget everything else, it's really china focused, i think what -- what that's done is it's really gotten me a little bit worried that we are going to have some disruption. i think the other thing about it is politically, stuart, if this is an area that both republicans and democrats can agree that china does cheat in trade and we need a fair relationship with them. stuart: okay, talk to me about tesla. as you know, jack, they lost $785 million in the past quarter, but then came the call, the analyst call and elon musk, he was really bizarre, he was
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dismissing questions from analysts, he took a shot at investors, big picture for a second, jack, do you think he's the right guy to be leading the company at this moment? >> yeah, i think this is a private company ceo running a public company. mike not having to answer figured out a way to put company private, companies like uber staying private, i think amazon is really the only company public company that's gotten away being effectively a private company looking long term because they are kind of throwing bones to investors periodically and showing some results but i think there's a mismatch here and this is part of the reason why many companies are staying private longer and as a private company investor, i think that there are some advantages of remaining private and looking long term and not having to answer analysts on a
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quarterly basis. stuart: wouldn't it be nice to keep reporting analyst expectations which if they miss by a fraction or do better by a fraction, all hell breaks loose. frankly, jack, i'm tired of it, what say you? >> yeah, the interesting thing is not all companies have earnings calls and perhaps taking elon musk out of the earnings call could be one way to handle it. i do think that the company is long-term focused. they have been to be given the invasion and the scale of what they're trying to achieve and so i understand his frustration with the quarterly drum beat, the performance that goes on, i think there has to be middle ground and i do think in many respects investors have to be longer term thinking as well. you can't own stock 3 months and expecting to make money every quarter. stuart: not if you're an
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investors. jack, thank you very much, sir, we will see you again, soon, thanks a lot. >> thank you, stuart. stuart: back to my take at the top of the hour, growing support as i see it for government guarantied jobs and handouts of all kinds. i want to get reaction from monica crowely, i think i know what she will say, policy researching, what do you say? >> i say there's a word for that, stuart, it's called communism. stuart: you're going too far. >> old joyce that soviet people used to make, the government pretends to pay us and we pretend to work, right, i'm stunned by this and i wonder how many of those polls were millennials because the millennial generation has been indoctrinated but the far left, which is essentially a socialist party and income inequality is a grave sin and the government's role to correct the inequality by grant -- guarantying base income and jobs.
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stuart: i don't understand why the idea is to popular in a place like america which is freedom loving, it's individualistic, competitive marketplace, that's who we are. it's in our dna, isn't it? >> that's correct. this is the result of decades of the leftist assaults on all of our institutions but primarily on the thing that made -- always made america exceptional which is the free market, its individual liberty. this idea of collectivism whether it's in terms of politically, with, you know, terms of the state is god and in terms of economically, the collective system with the command economy, that has been the driving philosophy, not just of the far left but the democratic party now for decades, so now we are seeing the fruits of their very successful propaganda campaign and it's up to those of us who believe in the free market system who believe in individual liberty as you do every day on the program to continue to make the moral case, not just the economic and political case, the
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moral case for the free market. stuart: now the socialist in seattle are going to impose a head count tax on big businesses. amazon has quit building an office tower in seattle because they don't want to pay this head count tax, they, you know, they're not going pay. i love this, to me this this ise beginnings of tax revolt of endless tax, tax of socialist governments. >> i hope you're right. it's all fun in games until there's a new tax suggested and then liberals run for the hills. jeff bezos who is the head of amazon, he's known to be a democrat, he owns the washington post, et cetera, but his company now not in peril but threatened with new tax that amazon can pay up to $20 million annually on this new tax for what, affordable housing for more social engineering by the left in washington state, seattle in particular and it's going to creep, and jeff bezos may be on the left but he's still a
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capitalist, wait a minute, this is not economically rational decision for me and my company to stay here if you will two forward with the tax, therefore i'm going to freeze construction and if you go forward i might high-tail out of here. i hope he does it. stuart: monica, you're all right. >> always a pleasure, thank you. stuart: we are going to go through the market, first of all, check the price of oil, we are -- no, down $67 per barrel. now the price of gasoline, it's been going up consistently but holding right now at average for the nation of 2.81 per gallon. that's just a fraction higher than yesterday. well, it is thursday which means dan henninger has a new piece and today he says comey has in james comey was unfit to serve as fbi director. henninger makes his case shortly. running theme on the program, the exodus at all-time, illinois
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lawmaker who says the state's high taxes are driving people out. he's worried about the number of people leaving and he has a number for us, it's huge. in indiana, new face on the scene in the senate race, businessman mike brown, he wants to take joe connell on the election and he's running straight down on the trump growth agenda, jam-packed show, this is the third hour of varney & company your company is constantly evolving. and the decisions you make have far reaching implications. the right relationship with a corporate bank who understands your industry and your world can help you make well informed choices and stay ahead of opportunities. pnc brings you the resources of one of the nation's largest banks, and a local approach with a focus on customized insights.
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stuart: some stories about new jersey governor phil murphy, he's admitting that he doesn't know how much a new union will cost taxpayers, this week the governor reached deal with the union and includes pay raise, when asked about the cost, i don't know the exact numbers, our folks are working on the details. murphy wants to spend more than $2 million to help illegals who
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face deportation, he will help them with legal costs, that proposal still has to be approved by lawmakers. by the way, new jersey households 10% of them will end up paying much more in tax this year because of the new tax law and that's even without the governor's new millionaire tax and higher sales tax. i live in new jersey for now. now this, our next guest say high taxes are driving people out of illinois, he says it's an exodus and numbers alarming, come on in, state representative, give me the numbers, how many people have left? >> 643,000 people have left the state since 2010 to low-taxed states, we lost 33,000 net in population, we are behind pennsylvania. illinois now the sixth largest state in population, taxes are killg people in the state. stuart: y have to give me that one more time. did you say 630,000 people, i take it most of those are relatively middle class and
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upper-middle-class americans? >> absolutely, heading to florida, texas, low-taxed states, we have major pension problem, we have massive tax increase that was implemented last year and, stuart, they are talking about raising taxes again, progressive tax which is code phrase for raise my taxes through the roof, taxes in illinois are out of control and so are property taxes. stuart: do you have any chance at all of the government of illinois actually reducing taxes at some point in the future? do you think it's possible that they'll be forced to do that? >> well, the people are going to force it. people are leaving, they are voting with feet, property taxes are out of control, second-highest property taxes in the country. we have pension problem that needs to be addressed. we need reform spending and cut pensions and medicaid spending and we need to be on the side of the taxpayer. so i think there's going to be a taxpayer revolt in illinois because we are sick and tired of these high taxes, we are sick
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and tired of people leaving the state, we need a tax revolution here in the state of illinois. stuart: before you get to that tax revolution, i suspect you have to go further down the financial spiral because if you're proposing -- not you but the governor or the state legislature f they're proposing to raise taxes, that simply make it is problem worse, so your debt problem gets worse, you will go bankrupt? >> i don't think we will go bankrupt but we have municipalities right now that are insolvent and the state is technically insolvent, raising taxes will drive people out of the state and we need real reform in the state of illinois. stuart: the answer, of course, you to vote, politics is the answer to this. you to vote in people who will redesign the state, but can you do that? i'm sure that most people in illinois are die to the wall
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democrats. >> we have the potential in the state to pick up more republican seats, right now it's 67-51 for democrats. we pick up 9 seats and take control of the house and we need real reform in the state and specifically we need to cut property taxes, cut spending, we can do this if we take the plan that the president did and focus on reducing taxes, reducing government spending, that's what we need to do in illinois. stuart: but you won't, will you? it's a great idea and i'm with you all of the way but it's not going to happen. >> i think it is, stuart, because the people are going to force it. you see what happened in connecticut, high-taxed socialist states like california, they are driving people out of the state. the people of illinois are about to rise over the next couple of years and demand real reform. i think it's going to happen and i think you're going to see it starting over the next few years. stuart: i just hope you have a couple of years leeway.
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dave, thanks for joining us, sir, we appreciate it. >> thank you, stuart. stuart: yes, sir. we will go through the market for you, the price of gold this morning is 8 bucks at 13.14. the value of a bitcoin is still hoovering right around 9,000 per coin, 9,400 actually. up today and then we have this, geologists are warning of tremor, they could set up an eruption. disney providing a sneak peek of toy story land in florida, one of the main attractions will be roller coaster, shrinky dog dash, it's based on one of the characters in the movie, toy story land opens in disney hollywood studios at the end of next month. terrific video, check it out. a time lapse video reducing an 11-hour flight from london to san francisco to just four minutes, here you go.
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film from cockpit of british airways plane, iceland, greenland and approaches the california coast, there you go. that's a huge long 11-hour flight condensed to a mere 4 minutes. we don't have 4 minutes to show it all but you get the feeling. sixth avenue new york on a sunny day in may. we will be back
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stuart: archeologist have discovered ruins, likely early church dating back to first century of christianity's existence, versions of crosses, walls, and writings on carved stone. look at these pictures. they are building the world's first underwater residence, it's called the morraca, two-story villa. the undersea suit with king-size bedroom, living area and bathroom and staircase that leads to upper-level floor. developers will rent it out but we do not know the price. swim with the fish. ashley: a lot. [laughter] stuart: border patrol agents
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made discovery, live cub, spotted three people trying to get in the country in brownsville, when they realized they were spotted, they dropped the bag and ran to méxico. they opened the bag and found the tiger, in good health and handed over to local zoo. good. now this, we often discussed robots taking jobs of real people but our next guest says it ain't going to happen. we will be back with that ...
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stuart: why are we down more than 300 points, and why are all 30 of the dow stocks down, answer? we're told there are worries about china trade, and we're also told that some of the biggest losers on the entire market are dow stocks and that's what's dragging things so much lower but right now we're right there at 23, 600 right there. our next guest says robots will not takeaway jobs from people in
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america. he says it's just an opportunity joining us now is bill stude baker, the president of rob o global. now bill, what exactly are you saying here because robots do takeaway jobs, certain kinds of jobs. are you simply saying that new types of jobs will open up? >> well, yes, stuart. if robots are stealing our jobs they're doing a pretty bad job of it. you only look at the subpar productivity we've seen since the late or mid 2,000s and look at the, where the unemployment rates are. countries that are heavily embracing automation like japan have been doing it for the better part of the last two decades have benefited by this. look at where their unemployment rates are they're actually historically rate of 2.8% like a 22 year low so the evolution of work continues to evolve. stuart: let me just jump in for a second, bill because the jobs which are gotten rid of because of the use of robots are extreme
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ly low-skilled jobs, largely that's the kind of job they are, so you've got to rely on building up the skills of the people who used to have those jobs building them up to the point where they can get jobs in a more technical society. that's a tough job. the very least skills are being left behind in our society. >> well again, i think the nature of work that's going to continue to evolve. back in 198560% of our employment was in manufacturing, the median income was in the $7 range and clerical positions we've now migrated to, positions of higher value and i think this is going to continue to happen and we do need to look at the education system and how we educate people. a four year degree used to be a panasea to the future and i guarantee it's not any more unfortunately. now we have to look at ways to educate and it's a continual education process we need to be going through it and it's just a result of the society we live in we've gone from a world that was very linear in terms of progress
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to one that's very ex exponential and there's nothing really stopping this. stuart: it can't suddenly outlaw robots, heaven forbid because you're in the robot business i surveillances are you not? >> we're on the robot business, we're investors and i think what we're seeing from an investor standpoint is that investors see what's going on. our fund has gone from a few hundred million dollars a few years ago to roughly $4 billion so i think investors see what's going on and where the world is going and that's an important consideration. stuart: are you investing in any company which would put a robot in my home? i don't know whether we're there or not with robot technology but are you looking at it is that where we're going? >> of course we think household robotics is going to be a major category. i think we're a little probably five years away from that actually happening. i know amazon has ambitious plans here i think it's going to take time for robots to develop the kind of perception and dexterity we need in our homes
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and at a cost point that drives value to consumers, but i think that's an inevitibility. stuart: what kind of thing would a robot do for me in my home five years down the road? >> what can't it do? who would have thought a robot five years ago would be vacuum ing your floor, washing your floor. i think it's everyone's hope years from now you'll have robots folding your laundry that are helping to clean-up around your house. i mean that's the kind of place we can go. who would have predicted that we'd have a electric vehicle 10 years ago? i think it's hard to predict where this technology is advancing but clear it is because of the cost of the computing power and it's actually growing exponentially so this is all happening. stuart: you think we'll have like rosie the robot from the jetsons in my house in about what, five years? really? >> i'm not sure about five years, but be prepared for some pretty interesting changes. i think five years from now, a
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lot of us aren't even recognizing the world we live in stuart: i agree with that. i'm not contradicting you just trying to bring you out as to where on earth we're going it's quite a future isn't it? >> i think it's really exciting stuart. it's hard to actually even anticipate some of the changes we're going to see but it's pretty pronounced and all of the big tech companies are aggressively investing for the future and it's pretty exciting. stuart: lay it out for us we appreciate that. thanks very much we'll see you again soon. >> thank you. stuart: okay, now, take a look at this, the headlines on the wall street journal, remember it's thursday. james comey's judgment day is written by our guest dan henninger who appears on this program every thursday by popular demand isn't that right dan? >> [laughter] why not. stuart: right. okay, you say james comey was not fit to be the fbi director in the first place. make your case. >> well my case is that he was not temperament alley fit and that is based on a reading of his book, higher loyalty, which
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i read for all of you so you didn't have to read it. stuart: [laughter] >> what comes through is really quite extraordinary. in page after page the entire book, no matter what the issue, it is clear that james comey is always trying to test himself against this very high set of moral and ethical standards. for instance he spends at least eight pages justifying his prosecution of martha stuart on the basis of morality. he said there's a time when people thought they would go to hell if they took an oath pledge to god. and he has another extraordinary example of how when he was in college because he was such foot eight, people would say to him you must have played basketball and he'd say yeah, i did play basketball in college and then he goes well that was a lie. i didn't play basketball and it used to eat at me all the time so when i got out of law school i wrote a letter to all of the people i'd lied to. this is a conscience that is
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working overtime and i was arguing that he lacked the judgment to be fbi director. instead, he was judgment all. there's a big difference. stuart: i don't think he's got any friends at this point, on either side of the aisle. republicans are not happy with the guy. democrats are not happy with the guy. i don't think he's, he didn't do himself any good with the book and his public appearances. he didn't do it at all but take it back to what i think is one " primary documents in the story of james comey and that is deputy attorney general rod rosenstein's memo explaining why he needed to be fired and one of the examples was given when comey was testifying before congress on the clinton e-mail server, he said to them, i was trying to get at the truth. i was trying to do what was right and rosenstein says, mr. director, we are not interested in your ideas of what is right and what is truth. there are formal rules in the justice department, in which one is supposed to follow.
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comey air o gated himself out of that system and obviously he was doing it his entire life, and that is why i'm arguing that he was really unfit, temperament alley unfit to be fbi director and i think these media appearances are making that perfectly clear to everyone. stuart: a government officer shouldn't see his duty as doing battle with seven deadly sins. before you go, dan, hillary clinton as you know, i'm sure, she's come up with another reason for why she lost the election. roll tape. >> i say yes, but with appropriate regulation and appropriate accountability, you know, that probably gets lost in the oh, my gosh. stuart: lost the election because oh, my gosh she's a capitalist. i'm not sure about that. >> i don't know whether she, i think that this is a fascinating remark and they were getting, but look, the democratic party right now is moving so fast to the left you can hardly keep track of it.
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i mean, you've got bernie sanders, elizabeth warren they're talking about things like a guaranteed job for everybody? a guaranteed income? what does that sound to you like , stuart? stuart: socialism. socialism and the progressives of the democratic left are defining themselves essentially as socials. the new yorks times op-ed page this week ran an article by some professor praising carl marks. carl marks was right and that's where the progressives had ended up and hillary i think is speaking the truth. i'm a capitalist. i don't belong in this party. stuart: [laughter] very interesting interpretation, dan. i think you're absolutely right. we'll be talking about this a lot. stuart: yes, we are. dan henninger you're all right we'll see you next thursday, if not before. >> you never know. stuart: thank you, sir. two black men arrested for sitting in that philadelphia starbucks now as you know they've settled with the city for $1 each and they received a pledge from city officials to setup a $200,000 program for young entrepreneurs.
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now, separately, the men reached a settlement with starbucks but the amount has not been revealed got it. real quick, some big names you know and see what they're doing on the street we have fit bit, down nearly 10% they gave a weak forecast. you do that your stock goes down profit up at kraft heinz let's see if it's bucking the down trend it is on a huge down day, kraft heinz is up 2.5%. better profit at the dow component dow dupont chemical company better profit, stock goes down 2%. a rosey forecast from coal logs, they are up 1.5%, 57 on kelloggs the champions league final, we're talking stocks can i get that straight? liverpool, last night they still move on to the championship game they won 7-6 and i won't pronounce the guy's name who scored the goal don't put that in the script again. liverpool, the spot in the next round it was his first, what's
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this all about? look at the video. this is terrific stuff. madrid will play liverpool in the final in kiev later this month got it. now to indiana, a new face, the senate race entering there businessman mike brawn wants to take on joe donnelly in the general election and he's running on it from growth agenda he's with trump and mike brawn is with us next. at crowne plaza, we know business travel isn't just business. there's this. a bit of this. why not? your hotel should make it easy to do all the things you do.
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which is what we do. crowne plaza. we're all business, mostly. and i recently had hi, ia heart attack. it changed my life. but i'm a survivor. after my heart attack, my doctor prescribed brilinta. it's for people who have been hospitalized for a heart attack. brilinta is taken with a low-dose aspirin. no more than 100 milligrams as it affects how well brilinta works. brilinta helps keep platelets from sticking together and forming a clot. in a clinical study, brilinta worked better than plavix. brilinta reduced the chance of having another heart attack... ...or dying from one. don't stop taking brilinta without talking to your doctor, since stopping it too soon increases your risk of clots in your stent, heart attack, stroke, and even death. brilinta may cause bruising or bleeding more easily, or serious, sometimes fatal bleeding. don't take brilinta if you have bleeding, like stomach ulcers, a history of bleeding in the brain, or severe liver problems. slow heart rhythm has been reported. tell your doctor about bleeding new or unexpected shortness of breath any planned surgery, and all medicines you take. if you recently had a heart attack, ask your doctor if brilinta is right for you.
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my heart is worth brilinta. if you can't afford your medication, astrazeneca may be able to help. nicole: i'm nicole petallides with your fox business brief a close look at kroger which is under pressure today after a north korea facility which processes ground beef among them , the distributer is kroger and it's one particular customer did find some hard plastic in the ground beef. stocks down 3% and here is some of the details, kroger is a supplier in recalling more than 35,000 pounds of ground beef. well this is again, this hard piece of plastic they're working with the u.s. department of agriculture. the beef itself was produced on march 22 and has a sell by date of april 9. kroger itself is under pressure today and down about 17% over the last 52 weeks, but this possible contamination is throughout the country, but includes certain kentucky,
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mississippi, south carolina, tennessee and a few more.
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stuart: now, the dow is down 300 points plus we're told it's because of trade concerns. well our trade delegation just arrived in china for two days of talks. connell mcshane is there and he joins us now. connell? now they start talking tomorrow, i think, your time that is, tomorrow your time. now, are they, what's on the
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agenda for tomorrow? connell: well, they talked today , stuart, thursday, and then they had dinner together but the talks really pick-up tomorrow. we expect them to keep going at each other pretty hard on the big issues that come up over and over. we don't know really how today went so if anything the market is dealing with some uncertainty maybe we find out more tomorrow. i tell you we are hearing something in this country that seems to be building up and that's something of an anti- american sentiment. i have a couple examples i'd point out a story in bloomberg china stopped buying american soybeans that came from an interview they did with the ceo effecting the price in the commodity market more broadly i'd point to the comments that we got an interview we did with a trade expert on the ground in beijing who said to us there's worry the chinese consumers if these things drag on, they turn away from american companies, if the trade tensions continue here >> when we talked to our companies it's something that hasn't happened yet but you're
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already seeing nationalism rise online through china social media and that can swiftly change to anti-americannism if fanned by the chinese government >> yeah, so it's tough to tell how much these talks will have an effect on that, stuart. i can tell you the treasury secretary mnuchin is really thought to have his chinese counterparts today on a number of issues, the trade deficit is one, intellectual property theft is another but he and the rest of the delegation keeping a low profile, we do hope to hear from them tomorrow before they fly home. stuart: got it all right connell mcshane in the middle of it thanks so much indeed. now, indiana senate race is one of the most expensive in the country. our next guest is one of three republicans hoping to take on democrat senator joe donnelly. he's also a businessman. joining us now, senate candidate mike braun. sir you're up against two others in the primary there, luke mess er and todd rokita, but you i believe are running straight down the trump line. you're a businessman, you're a
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trump guy. accurate? >> very accurate. when i saw the president clear the field back in 2016 primary it was kind of an inspiration for me to at least think about it and been a state legislator one term and in 2017 as i kind of served out my year there, started kicking the tires and back in may through july of last year, it looked like there was room for a guy like me that basically has built his credit in the private sector but president trump i think blazed the trail kind of paved the way and the whole campaign has been run on coming out of the business world bringing solutions from there to fix some of d.c.'s problems. stuart: looks to be like you're barely suppressing a smile. i suspect that you're having a good time. i think you're having a good time bringing business principles, profit and loss and
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competition to the world of politicals so tell me how is it going so far. are you enjoying it really? >> i've really been having a good type with it because just like building a business plan of course mine has been over 37 years and it was a real little company that turned into a national one and i think that yeah, if you're not having fun with something like that you shouldn't have taken the first step but we put together a great plan and got the resources to back it, and we're articulating a great message and it's resonating and i think next tuesday we're going to win the primary and have the best chance to retire joe donnelly. stuart: well you certainly are ahead in the poll i believe you're leading in the republican poles and i think you're out front there but what's the mood in indiana? because throughout the country, there is some pretty strong opposition to the president's style. some of the things that he says, some of the words that he uses, and the stormy daniels stuff as well. there's some opposition to the
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president because of that. i take it you're not you're going to ignore that and you're concentrating strictly on the economy, the growth plan, and strength overseas. >> well you know, everybodies style is different and when i become a senator, i'm going to take a different style there. i'm going to be my own man and hoosiers i think are going to have a dose of humility i always say that but we are on board with the idea that the system needed to be shaken and disrupted and why did it take all these years to get a tax reform package through and some of the other things on the president's agenda, i think you need more people like me. when you build a company from your own neighborhood literally where you grew up and over 17 years you hovered at 15 employee s and you grew from the late 90s to 300 in 2008 and in the auto industry and the in dustily imploded we'd run a business that does the right
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things, live within our means and we grew to 850 employees today and now do business in 39 states with 65 locations, and believe me, the roadblocks that are put in front of you are considerable. stuart: i believe it. mike braun, thank you very much for being with us today sir, we do appreciate it. thank you. >> you're welcome thank you stuart. stuart: yes, sir. fbn will have live coverage of all of the primaries this tuesday at 8:00 p.m. eastern, fox business network. look at this, a car dangling from a bridge in toronto. police are investigating this as a mischievous frank but still no one knows why it's there, and certainly not how it got there. >> [laughter] stuart: now this, a homeless man was arrested after breaking into california governor jerry brown 's home in sacramento but you have to hear what he said when asked why he did it. it's just too good to miss, [laughter] so stay there please you'll find out what he said. it wasn't you was it? >> ♪ ♪
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retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed
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stuart: i love this one. in california, a homeless man broke into governor brown's house. 51 year old steven sealy says he heard what sounded like a lion
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nearby and he ran into brown's home to get away. when asked how he knew the door would be unlocked he said "well he's an open door policy kind of guy" so i figured the door would be unlocked. he ran off without taking anything, the governor was not at home. >> the governor needs a bigger wall. just saying. stuart: [laughter] >> change the subject please. stuart: our next guest runs a program in georgia that recognizes that state's small business rock star, ryan waldrop with the georgia department of economic development is here. ryan welcome to the program. i'm very interested in business rock stars so number one, your number one pick is a bookstore. tell us why it's so great. hold on a second, i think we've lost. not only have we lost the audio i don't think the man is wearing a mic. i don't think so. we're working on it vigorously
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as we speak. i want to go back to the homeless man, no he wasn't homeless the california guy. >> yeah, he just ran in open door policy very funny. stuart: but wait a minute he said what sounded like a roaring lion. we got him we got the georgia guy back. are you there ryan? >> yes, i'm here. stuart: you saved me talking about governor brown. okay, number one rock star in georgia is a bookstore. tell me about it. >> well, gotwald's books is an amazing bookstore they're actually a used bookstore chain that started in middle georgia and they expanded not only to four stores in georgia but also into 13 or 14 other stores across the country even up into the midwest, so they've expanded not only the retail sales here in georgia but they've also acquired a new distribution facility and because of that, they've been able to increase their internet sales dramatically over the last year. stuart: in the age of amazon and
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the kindle i think that's pretty good. number two, south life supply company. are they in jewelry? >> yes, actually, they make a jewelry product and leather product out of shot gun and bullet casings, shot gun shells and bullet casings so you can find their products in numerous stores including bass pro shops and also the grand ole opry where they've done special work for them but also online as well and then there's a retail store in thomasville, georgia. stuart: it must be georgia if they're making jewelry out of spent amunition casings, very good i like that. you've got a medical research company that's your number three rock star. what is it and why is it so good >> it's doing phenomenal work in gwinnett county they're doing genomics testing and they've partnered with the u.s. department of defense to actually test or provide genomic testing for up to a million of our men and women in uniform so
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they are able to provide a lot of information on health and well being and be able to help with medical research as well with that. stuart: well i got to tell you ryan we love success on this program and when you present us with rock star businesses that have done really really well, we are very interested. ryan waldrop, thanks very much for bringing to our attention we appreciate it sir. thank you. ks for having us. stuart: i liked it. especially the jewelry company. more varney after this. >> ♪ ♪ [ 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. i'm all-business when i, travel... even when i travel...
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for leisure. . . . . what can i say? control suits me. go national. go like a pro.
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stuart: this is peter writing to us on facebook. stuart i dvred the liverpool match to watch tonight. please give an alert befe you give out the sco. liverpool is my team.
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ps, i'm glad liverpool won. i might add one thing, liverpool getting into the european championship final will get $100 million. ashley: big, big money. stuart: money is spectacular. ain't that right, neil cavuto? neil: yeah, absolutely. thank you for that soccer update. [laughter]. i know what you're thinking. how can i stick it to cavuto, right? right when the show starts with a soccer development. thank you, my friend. stuart: cricket tomorrow. neil: meantime, look what is going on, stuart. we are off the worst levels of the day here. going back and forge couple developments. what did the president know, when did he know it, stormy daniels thing, on and on. there is growing concern what is happening in china. latest from a couple very interesting people who deal in


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