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tv   Varney Company  FOX Business  May 30, 2018 9:00am-12:00pm EDT

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combine revisions to april and march showed, 71,000 fewer jobs and previously reported. so that was the -- that was more bad news in that report. >> not a great number there. thanks everybody. great show thanks for joining us that will do it for us. "varney & company" begins right now. stuart over to you. >> good morning everyone. wow -- oh what a difference a day does make. scared of a euro implosion yesterday and solid rebound today and half hour from now we're up triple digits on the dow industrials after a big drop tuesday could be up over 100 points big gain for the nasdaq too. today rebound led by technology companies. afterall many of them are sitting on mountains of dollars and the dollars value has been rising. they will be up for the opening bell xepght for apple welfare news on the economy. and first three months this have year -- now learn economy grew at annual rate of only 2.2% that is a little weaker. that originally reportedded.
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fundamentallal dollar strong interest rates holding if at lower levels and stocks will be up this wednesday morning. and now -- roseanne -- she's back on twitter, this time with the excuse for her racist comments. she was using ambien that is a sleeping aid she blamed that for what she called her stupid tweet. she apologized it to those people who would lose their jobs because her show was canceled yes roseanne canceled did abc have any other choice? "varney & company" sb to begin. >> phil -- i never heard this have guy. who is he? who is he? [booing] he's an absolute, total tool -- [inaudible conversations] of chuck schumer. he's a tool.
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of chuck schumer and, of course, the ms13 lover nancy pelosi. wow. >> how about that? that was president trump and he was really taking jabs at the democrats while something from marsha black byrne in tennessee she is making a round for the senate seat there in november. all right ash -- emac. he was in full 2020 -- election campaign but -- >> some of the things only way crook hillary could draw a crowd was by inviting jay-z with so many great one liners that we became so used to on campaign trail that you know it workses he was in front of a friendly nashville crowd and very popular there. country music it was the perfect setting for him yes he was something from marsha black byrne because you mention governor when i was living in tennessee so -- i don't think with has a shot against -- marsha black byrne we shall see but bottom line is this was
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donald trump at his campaign -- he was in fifth gear. sixth gear. [laughter] very effective. the word with the word tool that was a joke. and then nancy pelosi is the lover -- that's pushing what nancy pelosi said. but you know here's what's going on in the economy. i think people the vote percent saw they were stuck in teachers faculty lounge under obama and now you have economic confidence small business confidence and a 17-year high. small business earnings at 45 year highs people are feeling gootdz and president is accomplished more than two dozen things he has to issue is said he was going to do. pounding table on that last night. look what i did make america great again. this plan in health care -- greats line. nearly politician would produce more than i said i would produce. [laughter] >> which is probably true. but way of putting the crowd loved it. let's see the effect on november election. let's get back to the stock market as of today that is --
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big drop yesterday. this morning we're going open with 100 point gain a little bit more than that for the dow industrials, and stolid gain for nasdaq as well overall a wild ride for stocks over past five trading session that graphic doesn't do it justice big drop yesterday nearly 400 points joining us now greg, he's with horizon investment. all right greg, i want to know spell it out for me why does a crisis in italy hurt our stock prices in america? explain, please. >> i don't think it will in the long run i thought the big story was dramatic rally in the bond market ten year yield down to 285 that's a great story. first of all, i'm not even sure ayal reason going to back out of the euro that is a long shot but that is --
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or a long shot. markets are concerned ab trade war with china. there was earnings markets didn't like but the idea that italy could bring down u.s. market over a long period of time is farfetched because of what it does to our bonged market it's a positive story for interest rates. >> okay now we have the three on economy first thing this morning. we're growing at only a 2.2% annual rate, 2.2% that's not a strong number? >> no but stuart as you know there's something wrong with first quarter seasonal adjustment every first quarter is lousy thing quarter could grow close to 3% and second half could grow at 3% i've been on west with coast all week and blown away by how strong economy is from seattle all the way down to san diego. i'm blown away by nashville by austin, by all of these cities charlotte, all of the these cities in the toc that u.s. thae
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growing dramatically. so your outlook for stock market or s relatively bullish you have angst covering for our viewers this morning. >> we're going to get a rate hike in a week and a half that's a given but fed statement will be pretty benign because there still isn't a really significant inflation threat. >> so we're less worried having listened to greg this morning. yes -- yes, we are. all right thanks very much greg we'll see you again real soon. back to you. i've got to report this another tesla crash -- and yes, it did involve autopilot. what happened? >> this happened in laguna beach and very high end area in southern california. and look, the driver said that the -- vehicle was in autopilot mode at that time, and crashed into a parked vehicle which happened it to be a police vehicle and no one was in the police vehicle. but begin something with the better thing to head. the driver of the tesla model s received minor injuries but
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again -- the question is is here that -- tesla says his responded to this and had fires -- we've had a number of very high profile crashes what latest bid in tut -- tesla says this, it says tesla has been all clear that autopilot doesn't make the car impervious to all accident it is say look bottom line is even if you're in autopilot you don't take your hands off to get in the backseat to have a little nap you're driving and you should really have your handle on the steering wheel but at -- which to me says what? he's got the -- got that bsh but people full sense of security we don't know what happened here. but tesla has admitted that sometime the the system doesn't always recognize search things oned road lead to crasheses that could be another -- >> may not break. let's looked a big name tech stocks please microsoft has been
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on a tear, by the way, i didn't know this but i found out this morning microsoft is now more valuable than google. that's a shock to me. market watcher shah gilani is with us. i don't think it was a shock to him you like microsoft from way back -- on your show for many years ago when it was in the mid-20s and i was saying this stock has nowhere to go but up and plenty of room on the upside. >> you do. for last 11 quarter it is missed its earnings one time coming up missed revenue one time and never missed earnings in 11 quarters projecting 11% increase nernings in 2018 and about -- almost 8% in 2019 so hitting out of the park in every respect. >> i didn't understand yesterday -- why the big name tech stocks went down. they didn't go down that much but they went down . they're all sitting on mountains of dollars hundreds of billions of dollars dollars values going up. >> that's right microsoft 135 billion from their cloud business, they're dividend
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raising that for 14 years straight. i am loving looking, watching microsoft cash flow which is bigger than alphabet so -- >> i am too. believe me. [laughter] but -- i thought google was a really wide ranging company with all kiengdz of interests in different areas. >> too much on too many things microsoft is very focused its complengt at everything it does and second to only to amazon in the clouds on growing that business so it does very well. i think selloff yesterday in tech stock was a riff off scenario and you have lots that makes a risk in the scenario. >> so yesterday's dip dropped nearly 400 points that's just a one offshot panic over. >> i'm positive on the market and turned positive on market again. there's certain levels i don't to see it go below. so i think i'm fine here and i think market has a chance to go considerably higher. i think there's level on the dow, nasdaq and s&p if we get above those then we're in consolidation mode next leg is higher we can't flip back down
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to touch those lows. i bury the leads. shah gilani told us after some considerable length of time, on the sidelines, he's now back in -- and he's buying stocks again and market he think is bullish or thank you ash. >> radio listeners out there. : radio listeners he's back. >> back and getting fully in. >> how much are we going? >> again question of to get past regime here and test flow that bet is off if they don't test the low and haven't come near them the dow when we get above 25,000 and we stay above 25,000 i think we've got to go up at least another 10, 15%. that would take us to 29, and know not to go there. anyway the 30th, 2018 -- [laughter] 28,000 here we come. watch out lads. >> looking forward to seeing you. i have a big name stock you know it, it is dig's sporting gods like a lot of companies they look to the future. getting their forecast looking
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out there. and they're saying business will be good. look at that. the stock market reacts with a 23% gain for dicks supporting goods. i have got great video from you from volcano zone in hawaii a lava flow hits a dwas lean can wait for it. boom, have we got that -- big explosion and a 82 homes destroyed 2,000 people evacuated since these eruptions began. >> right next to him filming. i would get out of the way. north korea one of the top advisors heading to new york today he'll meet with secretary of state mike pompeo trump administration preetding as if the june 12th summit is still on. and the story that everybody is talking about again today, abc hit reboot of rozenna canceled after star went on a racist tweet. here's the question -- is there a double standard at play here. we will discuss it. that's a promise. more varney after this.
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>> world knows by now abc did cancel itself hit sitcom roseanne at the roseanne ball went on that it twitter rant against jarrett joining us now charlie withturning point usa i thought that abc had no alternative when you put up that kind of stuffening you pretty much got to remove the star and the show from the airwaves why were you surprised at the cancelation. >> well, look i agree that tweets were completely and totally detestable, however, with that being said, i do think there's a double standard that exist you know look at joule an reid from nbc who published repeated intolerant writings for years lied about it. tried toughs cover it up had help from nbc executives to try to cover it up and tried to play the victim come wast a fake apology that heralded a hero for stepping up so look, in no way
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am i saying that roseanne said it is acceptable by any means but if you exist there with a smidgen to right and say something you regret you will lose your livelihood and your show and everything that you're associated with. so it's unfortunate and abc did have no choice and look, roseanne should not have tweeted that it was racist for her to do so, however, there's a double standard that exist because if she was a liberal i guarantee they would have given her a second chance they would have said she was joking. so on and so forth. but i have to say robert, ieg per chief of disney he did the right thing. i mean he canceled the most popular comedy show in america today. which was a huge money earner for abc, but he put his principles first and he pocketbook second -- and he canceled the show. again, i got to say i think he did exactly the right thing. don't you? >> i think that's right. i really do. and i think he was left with no choice but sad part it's not just a business downside but all
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of the writer it's producers it's the auxiliary people now completely without work because of one person foolish tweet so there's a lot of downside that happened because of this, however, it does show as zero tolerance policy from abc towards a sort of rhetoric and sort of behavior in no way do i think it is permissible or tolerated but if this is a new starngd it should be equally applied to all poem on all across the political spectrum not just those who might lean to the center right. : all right. you're a conservative. i always think of you as a conservative kind of guy. and last night -- you went to the belly of the beast, california. and you made a speech at stanford, university how did it go? >> you can see the palo alto background right here. my count part the amazing candace and i been doing a campus lecture tour and completed big three in california. ucla, uc berkeley last night we did stanford and energy and
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enthusiasm was off the charts and got through the entire speech without -- overwhelmingly being heckled. sold out crowds, the administration didn't give us a bigger space so we it where we have to do if. we have a couple of students and 600 students on waiting list that wish they could have attended ill tell you a not so silent majority growing on movement for freedom and free enterprise and free thinking and not trying to get everyone to agree with a dogma we are trying to do, question the left orthodoxy dominating college campus for so long and amazing to be on frontline to see this response. >> charlie you're leading the charge well done young man. buzzes that a job that needs to be done. congratulations. that's great stuff. thank you. >> by the way, as you heard does work with charlie as she's on the show at 11:00 this morning talking about kim kardashian visit to the white house. what is she up to? she was there at stanford at 11.
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where are are we going on this market we're still going to go up about 120 odd point. nice gain for the nasdaq as well that's at the opening of the -- market today. now this -- i am told that the walking dead is one of the most popular shows on television. it's losing its biggest star -- i know you want to know about this. [laughter] we won't tell you all about about it, coming up after this. welcome to holiday inn! thank you! ♪ ♪ wait, i have something for you!
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>> and put in best british accent reliably producer of this program the star of the one of the popular shows on tv is leaving who is it, and which show? >> i have no idea. rick grimes who plays andrew -- actually andrew lincoln plays rick grimes on the walking dead he's one of the few original characters and this is comeing with nine seasons is that right justin he's being the star through those nine seasons so news -- even a wife this guy could be leaving this character -- is sent pan pick among fans the walking dead. >> get out of here panic among the walking dead. [laughter] >> control room right now is in a panic. >> i would say right now. so question is what does that do to the show? the other characters have left and there has served they say
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now that darrell dickson that's the character name played by norman could become the new star of the show. whatever you say about the walking dead, it does incredibly well in rate arings and maintained those ratings for what nine seasons i think justin our executive producer say it is beats sunday night football -- >> now you can -- so there's some, you know, drk >> reliably informed. now i know what you're talking about. serious stuff. the white house says it is moving forward with its threat to apply tariffs on imports from china. >> latest twist in the saga right because steve mnuchin says ten day on hold and yesterday trump administration 25% tariff on 50 billion worth of chinese goods that are notably in made in china 2025 and china initiate i-to really dominate technology around the world. so these tariffs stuart could hit june 15th we'll have a ross head there had june 2nd you know
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so -- it's another chapter in the ongoing saga. pnches they say we say, we say, they say. tit, tat but not a trade war but negotiation isn't it? >> it is just a but serving markets quell in terms of negotiating in the public domain. i think that he should be able the president should be able to be smart in terms of negotiations a lot of room to negotiate. we need to get better fare deal with the chinese. i don't think through the public pronouncement like this early -- >> helps the down yesterday. >> did not help the market maybe it is holding back a little bit today. not sure about that. we will open up, though, 130 points now for the dow industrials and about 18 points for the nasdaq so this wednesday morning -- after yesterday's near 400 point drop at the closing bell we will be up over 100 point. stay right there please we're going to take you to wall street for that opening bell, after this. whoooo.
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don't sweat your booking. tripadvisor. the latest reviews. the lowest prices. 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 or delusions during the course of their disease. if your loved one is experiencing these symptoms, talk to your parkinson's specialist. there are treatment options that can help. my visitors should be the ones i want to see. >> extraordinary ride for the market yesterday about 11:00 eastern time the real route began and one stage dow was up 500 points it closed with a loss of 391 a very substantial loss. then open up trading again at
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wednesday morning and if 10 seconds. we're expecting roughly 100, 130 point gain for the dow. a mod test bounceback so we're going ask with yesterday a one-day panic here question go. two, three, one et cetera, et cetera 9:30 eastern time we're up and we are running we're up 126 point right from the get-go. 137, 140. 141, okay 143 -- for the radio listen percent we've got a screen here with all 30 of the dow stock, 27 of them are up. and we now have dow industrial up 158 point. that's a gain of about two-thirds of one percent. how about the s&p 500? is there a comparable gain there? answer -- almost. we're up .56% there solid 15 point higher for that. how about nasdaq home of the technology stocks somewhat similar gain and not quite as strong up .4% with a 32 point
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gain. interest rates the baseline for that is tenure treasury yield as we speak three weeks ago at 3.12% a big difference right there. disney's abc unit canceled the hit sitcom roseanne, the stock is up 70 cent this is morning at 100 more on that in a second. how about the big technology companies -- all of them up except apple which is down a fraction. look at microsoft more on that in a second 966 save the trumpets for later. let's get become to disney and roseanne canceled after roseanne barr went on racist twitter rant against obama staffer valerie jarrett. now barr is claiming that blaming the rant on sleeping pills. let's discuss that. liz claman ashley webster shah gilani so christian -- do you think this has a negative effect on disney's stock? >> i don't think so. stuart i think it was a wise
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decision they acted quickly on a racist rant, and you know, despite the apology she's offering, you can't do that in today's environment. it's too sensitive and she stepped over the line. >> canceled most popular comedy show. >> 189 million view rs, however, it is in that unit at disney less than 10% of its operating income about with the broadcasting unit so i don't think it really hit the bottom line. but boy, was right five minutes to destroy it. >> well said what a shame. they did it they canceled cancet like that and now this it morning roseanne blames ambien for that. who owns amy ambien is that known to cause -- raceist rants -- >> now let's not tag it like that. >> to blame that. naples is there a warning label? all right well stocks are coming
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off a big jittery session yesterday it was largely about italy so here's the obvious question up 160 points christian is it a one-day panic is the worst over is it over? i don't think so. >> i think there's more headline risk happening. however i do think it is a buying opportunity to buyen the dip here because i think it's going to get solved. >> so headline risk -- that means that if there's a negative headline cools out of italy the algorithm is the computers read the the headlines. and sell -- that's the rift. >> in spain as well the prime minister has to vote of confidence which she could lose on friday. yeah. headlines have been driving this market for a little while now. >> a preview of what will happen we saw it request brexit two years ago that went down dramatically and acted same way during brexit and been through greece and debt crisis before this is a preview of buying on dip and when you see this headline coming buying the dip. >> we're not over. the problem in italy has just
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begun but they digested it well yesterdays and didn't end up on low and came back towards end of the day and on a bounce today and waiting for the huge hit yesterday. so it's nots over. but i think the worst is over in terms of the u.s. markets. >> look if a ton of money comes into america because this is a safe haven, i don't see what's wrong with that i don't. >> this is going to drive international investors into the dollar to drive to u.s. -- this is a good space for u.s. markets to go higher. >> now here's what may be a negative about an hour ago we have the latest reads on economic growth not great. in the first quarter of the year, the first three months we grew at only annualized rate 2.2%, that's fine. there's nothing wrong with 2.2%. 3% but that is -- a fully mature my to guy that is fabulous. >> that growth rate under president obama i would be on the air saying this is not goods
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enough. >> because the -- the obama administration i think was closer to 1.5% sop you know here 2.2 is a step up for sure. >> we're spoiled look at at this timely what they're going through now and going to continue i think to tax cuts some of the reforming especially on regulatory side hasn't come through, i think this is boipg to continue to accelerate. >> let's check where we are five minutes into trading session on a wednesday morning coming off a big loss yesterday up 150 points that's two-thirds of one percent. we did get a rosy forecast from dicks sportings goods look at the results, a 22% gain for the stock in just a few minutes. not bad at all investor were not impressed with the dsw that's the shoe discounter they did not give a rosy forecast. and they're down 7.5%. we have an amazon story for you. we always do -- it's now offering whole foods discounts to prime members in 12 states. it's at 16 that would be 1,618
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per share. let's get to microsoft and get the trumpets. [laughter] you know -- it is now market value high per than google. now look at that 9920 -- hum -- play them trumpets again. ♪ i am surprised that it's not worth more than google. there's a lot more of google whenst there's microsoft. >> that's right doesn't seem like microsoft is that innovative but been on a tear and big growth area is their cloud computing business and amazon one of the big ones is aws their big business and microsoft has leftover google with number two player there helping to fuel their growth. >> how-- excuse me. how high is microsoft going? >> there's no shielding for microsoft over next several years absolutely no ceiling for microsoft if economy does well the market -- i've said this on your show the
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market will double in i think -- five years the market will double from here. and that means that microsoft will double with it at least. and the company is doing so well hitting out of the park every revenue source they have is reaching new highs, and they're expanding their market in everything that they're doing they're touching up to awf in materials of the clouds and running on all cylinders. >> rank of the show you're on the show the the bull is back. tell me about what this morgan stanley say about microsoft. but march of next year microsoft will be a one trillion dollar market cap company that means stock at this level goes up 31% to 130, that will make it a 1 trillion mark value come up arranged 45% over the last is it months. so -- >> keep the reports coming. move on. now let's look at tesla please. another autopilot crash there. first that picture says all driver of a tesla model s all
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the pilot mode, and unfortunately car swerved and hit a parked vehicle the parked vehicle happened to be a police car so no one was in the police car minor injury to the driver. look tesla continues to stress just because you're in autopilot doesn't mean you can as we've said before get in the backseat to read a book it means that it is basically a advanced form of cruise control you have to have your handle available on the steering wheel if you can. but people tengd to get full sense of security push the button in autopilot. e-read a book go to it chapter 7 in your book you can't do that. and enhance cruise control -- >> correct. that's a good point. i have to move on to netflix because there's still very, very close to their all time high. and netflix is around 3.50 as i recall yes it is 3.50 as of right now. too expensive for a guy like you shah gilani. >> nothing too expensive for me for too long. i admit this stock and -- >> would you buy it now?
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>> i can't buy it or justify paying these levels if you only -- we like netflix, there's subscriber growth is what is driving them and where it is driving them is overseases over they're expand their subscriber about account and replicating success they've had in the u.s. all over the world. they're going to be the most watched kind of tv source within five years -- and just nonlinear tv viewing. so microsoft is worth more than google and netflix is worth more than disney who would have thought well temporary. well best buy, they're close their store in the mall of america they've been there for ten years they're closing. this really is not a story about amazon but the death of the shopping mall. >> that's a great point. that is a great point that is -- this is a big mall 46,000 square feet it is huge. >> biggest in america best by store with 46,000 so here's that best buy did not have apparently appliances in there so people go to best buy -- with test drive appliances like,
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i mean, like for refrigerators and mostly it haves and like and speakers. >> interesting i thought. all right and best buy is up on the news you know it is that time i regret to say bully is back. thanks for joining us you're great man. you're really great. christian not bad either. gentlemen thank you very much indeed where are we up 1672 points two-thirds of one percent this wednesday morning. the white house proceeding june 12th summit with north korea is still on. question was last week cancelation just another negotiating tactic bit deal maker in chief? we will be back with that. [music playing] (vo) from day one, we always came through for our customers. it's how we earned your trust. until... we lost it.
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we're holding on to a triple dimght gain up 130 point
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one-half of one percent up. now look at the price of oil -- okay, up a little bit today. but it is at 67 dollars a barrel. that's i think close to a 26-week low. well oil may have come down a lot. but look at gas prices, they're holding steady just shy of $3 per gallon. that's national average i think today at at 2.96 you're in chico explain why oil comes down so much but gas holds steady what's going on? >> i will give you two points, one i would point out that that oil price that we quote all of the time that is a future's price. that is oil for deliver it rei up a little bit today as you point out that is for delivery in july in oklahoma. oil is not oil is not oil is all sorts of different dpraidz of oil around the country. so we're looking specifically at that. and that is not for delivery until july in addition retailers would point out they're buying
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in the stock market which is a different price, and until they sell through, even if the stock market goes down and even until they sell through what they've already bought, they're not going to bring their price down at the pump. sounds like a lot of bologna to me but it does make a lot of sense getting gouged maybe we're really not so bottom line, jeff, in time, and i don't know how much time, if oil stays down, 66, 67 dollars a barrel gas will retreat from $3 a gallon. right? >> patrick -- of gas buddy has said almost certainly unless something bangs it up again we're seeing lower gas prices eventually. >> we'll take that as good news and see you again later in the show. let's get to north korea and summit and drama surrounding secretary of state mike pompeo meets with a high ranking north korean official today about the summit. enjoing us olivia -- politic analyst at the heritage foundations asia studies center. the gentlemen coming over here,
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am i right in saying that he's cooling over here to tell mike pompeo what kim jong-un is going to agree to at the summit is that about it? this is on and off again summit at the ages it is a positive sign that -- secretary pompeo is meeting with negotiators from north korea. and hopefully president trump's decision to hold the summit potentially off the table means that the u.s. is in a stronger negotiating position that makes it so that u.s. can set terms of negotiation rather than just accepting what had north korea gives us. it is clear that north korea has been attempting to play hard ball with the united states. but the u.s. is not going to stand for that so hopefully these discussions between secretary pompeo are in opportunity for u.s. to make clear what its goals are complete have verifiable of the program and forward movement on
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human rights issues as well. >> so the gentleman who has come over here to meet with mike pompeo what's he doing here? surely he's coming over here to say this is what my boss -- kim jong-un is going it agree to. that's surely what he's here for. >> i'm sure that he's here to convey the well of skim junk unand to hopefully pave the way for the summit on june 12th. it looks like -- at least from press releases that we're seeing here this morning -- that that summit is most likely to go ahead. but i hope that secretary pompeo sends a very clear message to u.s. is not going to sacrifice and is not going to accept a half bake deal from north korea this needs to be topnotch and promise that noters korea will denuclearize once and for all. >> okay i have 20 seconds left that the end of the day many years from now, do you think north korea will be denuclearized? >> i think that's almost
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impossible to predict. but my hope for north korea is that not only would they denuclearize but rpght basic fundamental right each and every north korean. >> thank you for joining us this morn. we appreciate it, ma'am. >> let's switch gears i mean really facebook is going to be banned in new guinea for one month. why? >> the government is saying there's defamatory content by facebook users in that country against government officials fake news, pornography they're going shut it down temporarily to how to regulate it to come up with their own government run facebook style website. >> i don't know how many users of facebook there are -- >> 600,000 -- it that's main -- >> that's bbc reporting. and can't have it for a month. >> that's correct.
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they shut it down -- and so it's a problem for mark zuckerberg not happy they're shutting down. reaching out this shows the reach of facebook of 600,000 people in new guinea are on facebook it is incredible. yet it is a teff stock still at 180 not far from the all time high look at that 186 as of this morning an upside market it is wednesday morning up exactly -- 154 points now if you look on the left-hand side of the screen ready listeners, 28 of the 30 stocks in the dow are in the green. they are up. president trump suggests robert mueller's team will be medaling with the midterm elections that is a pretty bold claim isn't it is? that judge coming up next on that. mgx minerals' disruptive technology can extract lithium -
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>> okay dow component hit all time high above 99 a share. it is backed off since. my question who is first person to pay 100 dollars per share from microsoft. not you. >> are you -- [laughter] now, we have president trump he retook a shot at the mueller probe and russia, russia, russia. here's the tweet -- the 13 angry democrats plus
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people who worked eight years for obama working on the rigged russia witch hunt will be medaling with the midterm elections especially now that republicans say are taking the lead in polls. it was no collusion. xepght by the democrats all rise judge napolitano is here and president says they will be medaling in the midterm what do you make of that? >> he's saying that the base whatever you think of bob mueller in terms of public nearly perfect period of time you haven't heard a people come out of his mouth and many don't know what his voice sounds like and speaks through democrats he fies in court. i think the president's fear is that somebody will be indicted between now and election day. the department of justice has a regulation -- no indictments, no filings in the 90 days proceeding election day unless absolutely necessary. like a statute of of limitations about to expire. >> would that constitute if
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medaling deliberately file charms to affect outcome of the election of course it would. if that would happen. >> no, no he would -- qongt say he was doing that. but you be if mol per deliberately i don't know how we would know if he deliberately did it to effect the outcome. >> the president's charge that your melding with elections that would be accurate. >> if that happened my guess is that mueller aware of these kind of charges which are out there trying to undermine public support for his -- his office -- qowld not do something like that again unless it was vital for example if a statute of limb limitation is about to expire i was on with martha last night with trey, he has seen the full unredacted jim comey memos to himself. one of those memos he quotes the president is saying -- if anybody in my campaign was colluding with the russians i want you to investigate that
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fern. and when bill interrogated on to fox news sunday he said to a former mayor giuliani can you say for sure nobody in the campaign dealt with russias? he said i can't say it. >> why am i saying this because there's a legitimacy even from the trump perspective to a portion of what mueller is doing. >> okay. i want to move on before i get lost in the total -- >> you wanted to a magic trick. you know what we're talking about jury found copperfield negligent but not financially responsible for british guys injuries during a trick. so -- >> wait a minute a brit kale to the united states and as a plaintiff -- seeking money damages? >> he didn't get it. [laughter] didn't get money for damages. must be a graduate of the school of economics. >> i don't know. but what he did was to force copperfield to reveal how he did
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the trade -- >> correct medical record to defend himself and in order to show that he was not negligent to reveal secrets to the trick and beg to judge the courtroom forget it a press packed in there and now this cat is out of the bag how he does this trick but found not to be liable the plaintiff was to be found what is found 100% liable for his own injuries. by the manner of which he participated as part of this stunt. >> that's not true. good, i fully approve. the lawyer is a very well known new york plaintiff -- of his own money to try the case and didn't get a nickel i have to tell you to bring a smile to his face. >> thank you, judge. now this italian politicians and economic nonsense. the something for nothing populous. i love those populous my take on that is next. get out of here. [laughter]
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stuart: the american left should take a lesson from italian politics. over there the populists are talking economic nonsense. two populist parties are trying to form a government. the policies they are pushing would bankrupt an already insolvent country. there is a lesson in this for america. cash for everyone, that is part of the italian populist program, guaranteed basic income, $960 a month. italy does not have that kind of money. a handout of that magnitude would require a whole lot more borrowing, and italy already has the third largest debt in the world. listen up america's democrats. your party is edging towards the same immoral, money for nothing guaranteed income policy. then there is the retirement age. currently in italy it is 66.
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populists want to roll it back, 62 has been mentioned, but even a rollback of one or two years would be financially disasterous. italy has a demographic crisis. it is aging rapidly. more and more old people. far fewer youngsters to support them. they already spend 16% of their gdp on pensions. the rolling back the retirement age is truly economic nonsense, but it is politically attractive, especially over there. italy is economically stagnant. according to "the wall street journal" economics output per head is now 5% lower than it was in 2001. are you kidding me? imagine that! no wonder italian politicians are buying support with somebody else's money. don't forget the impact of the migration crisis. when angela merkel opened door of europe, italy had to handle migrants from germany and mass migration across the mediterranean. italy has been transformed.
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many italians do not like it. same here. open borders really hurts the locals. look down the road aways. it is hard to believe america would go for a guaranteed income scheme or lowering of the retirement age, no matter how enticing that is to some voters. we have not yet totally given in to the something for nothing mentality but italy has been driven to distraction a generation-long stagnation a baby bust, a migration crisis that changed the country forever. what a shame in their desperation they have been driven to economic nonsense. there is indeed a lesson here for us. the second hour of "varney & company" is about to begin. ♪ stuart: i have to tell you coming up sebastian gorka former
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advisor of to president trump, he will talk about italy's economic chaos. modest rebound today. we're up ha a percentage point higher. big tech names, check them please. all of them -- apple is down, alphabet is down but the rest are up. amazon by the way, has expanded whole foods discounts to prime members in 13 states. microsoft earlier hid another all-time high. it now has, more valuable company than google. who would have thought. dick's sporting goods still way up, rosy forecast they came up. they raised the age which you can buy a gun in their stores up to 21. they stopped selling assault-style rifles. they have a rosy outlook. the stock is up 20% as we speak. how about that? disney. abc unit did indeed cancel the very popular "roseanne" comedy
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show. no impact on the stock. up 48 cents at $100 a share. price of oil gaining a little ground, still a six week low at $67 a barrel. look at this, the russell 2000 index hit another all-time high. this is index of small companies is a tear. on pace for 15th record close this calendar year. that tells a big story about smaller corporations in america today. very profitable. more on the market in a moment but first i have to report this for you. a series of immigration bills moving through the house that would a, protect dreamers, b, offer a path to citizenship for illegals already here, and c, fund border security. joining us now is congressman carlos curbelo, you came up with the plan but the plan doesn't mention the wall. it mentions border security. why did you let the wall out?
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why do you leave the word, the wall, why do you leave it out? >> stuart, good morning, from miami. and what we're proposing is a full-on debate on the house floor from very conservative legislation which does include border security, including physical barriers, the wall, whatever people want to call it to other bills are simply focused on giving young immigrants brought to the country as children a way to remain in the country for rest of their lives. we know there is strong support in the country for increases border security and for protecting the victims of the immigration system, these young immigrants who came to this country through no fault of their own, who are contributing to our country. we want congress to act. for many years congress has reacted or responded to challenges from presidents from bush to obama to trump with inaction, with paralysis and what we're trying to force here for the house to actually act
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and meet this challenge from president trump last year, who asked congress to come up with a bipartisan solution. stuart: congressman, i am told that your bill is just, what, two republicans shy of passage, is that accurate? >> so what we filed is a discharge petition which would actually allow bills to come to the floor, in this case four bills, one very conservative bill, one democratic-leaning bill a bipartisan bill, a one bill of the speaker's choosing, all of these bills will be debated. they will all be voted. one has the majority and the most votes would then pass the house and, the senate could theoretically take it up. so there is not one specific bill that we are trying to impose on the house. what we're trying to facilitate is the debate. so far republican leadership has responded by encouraging a next, a discussion among house
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republicans that could lead to compromise legislation. we may not need the discharge petitioned process. but in the meantime we're continuing to pursue it, because what we will not accept is congressional inaction, what we have gotten for over a decade on immigration. stuart: what you may do here is flush out the democrats, where do they really stand? do they want a deal of any kind own daca? that is what you're going to find out. not so much whether the republicans get majority to pass it. no, you will find out whether democrats want to deal with daca, aren't you? >> that's a fair point, stuart, because many on the left, not all, many over the years have purposely avoided solving this daca issue, the dreamer issue, because they view it as a valuable political instrument to use in the fall of even numbered years. so yes, this is going to require everyone to be honest, to be sincere, and to show whether or
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not they are willing to give young people a way forward in this country. i believe they deserve it, they earned it, those paying taxes here, gone to college and gotten degrees. so, yes, this will show where everyone really stands. that is another reason why we want to force this debate. stuart: got it. congressman carlos curbelo, thanks for joining us. please keep informed how this thing is going because that is a very important deal you've got there. >> we will, stuart. stuart: i will call it a modest bounceback after yesterday's big drop for stocks. right now we're up 118 for the dow industrials. "barron's" senior editor jack hough is with us today. was yesterday's trip south, is one-off shot, is the panic over? >> that is not a news cycle. that is a, not a problem that will go away. italy has passed the point of no return on its debt. it has a weak economy that can't support paying that money back.
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remember when we were talking about greece we were talking about the awkward combination of having a monetary union without having a fiscal union. that conversation never went away. now it is back in the forefront. this is a story that will come back. when you combine this amount of debt with a shrinking population, it is disasterous financially for italy. stuart: why does that play out negatively here? if they bust open the euro, the euro bows gust or it break, goes bust, and breaks up. why is that negative for us? our interest rates are going down. the economy is strong. what is the problem, tell me? >> things are not as bad here but doesn't mean there can't be a spillover effect. we don't want to see a dollar too strong. we don't want to see our customers around the world in a state of financial weakness where we can no longer sell to them. our banks are much better here, things are better here than they are in europe right now. that does not say there can't be spillover effect that would
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dammen our economic growth. stuart: you expect the spillover effect will continue? keep coming at us? >> i think there will be another leg or two or three to this story. i think we'll see a lot more of it. stuart: hold on for a second, jack, i have to segue for another story. we have another tesla crash, and it does involve the autopilot. what happened? liz: driver of model s tesla crashed in unoccupied police car in laguna beach. it was autopilot. extensive damage to both cars. driver walked away with minor injures. another crash in autopilot mode. again and again, tesla elon musk is frustrated with reporters. he said i want a website equated with reporters. it says a tesla vehicle can not detect all objects and may not break for stationary vehicles or objects especially traveling over 50 miles an hour. you wonder if you will get a cigarette warning kind of box on
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tesla? maybe list that higher in the manuel, that boilerplate. stuart: ash, you got it right. it is a glorified crews control. ashley: it is advanced cruise control. you don't take your hands off the wheel and do something else. stuart: jack hough, you came out with a list of the best ceos in america. musk, elon musk, tesla guy, he was not on the list. why not? >> he would have -- there is a two-part process. we screen using financial measures and editorial discretion. he would have failed both steps of the process. i have a lot of respect for the guy but they don't make money and have not delivered on promised production. liz: neither has netflix. you have reed hastings on the list, right? >> we have reed hastings 'tis musk led a company that led to paypal. he is significant guy. >> looking past five years. i've been negative and wrong on netflix stock. we have to give credit to the ceo because they overdeliverred
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well beyond what people thought on subscriber growth. stuart: musk ain't on the list. thanks so much, jack. big hour coming up for you here on "varney & company." a lot of lessons we can take away from italy's economic crisis is. sebastian gorka joins us next. roseanne, one tweet changed everything. a move that costs million of dollars. we'll be in full discussion mode. president trump looked like he is in full campaign mode with five months to go until midterms. republicans running on his record. martha maccallum joins us. getting tesla 35,000-dollar model 3 a pipe-dream? is it? chevy's answer to it, the bolt, got a longer range. can we mention that you can take one home today? you are watching the second hour of "varney & company." ♪ brighthouse financial
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>> from the treasury department new sanctions on iran. what are they doing? ashley: we had a series of these. six individuals have been named in these sanctions, three entities. one of those includes iran's evin prison. it is notorious, keep their political prisoners and often described as hell on earth. this is all effort to ramp up economic pressure on iran as we know and the president has spoken before of the protests in iran that we've seen. things like this appeal, i think, to the opposition, to the leadership in iran, because the economy is awful and suppression as we know is immense. stuart: well, let's see how far or how close i should say, iran is to economic collapse.
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former advisor to president trump sebastian gorka is with us now. that is the question at this point. we just got new sanctions. are they close to economic collapse? >> well they have been so adventurous to put it mildly in the region, spreading their assets, being involved militarily from yemen to iraq that they have spread themselves very, very thin and this is starting to hurt them economically. one of the most interesting things about the recent protests in iran, stuart, unlike 2009 when almost all concentrated in the capital of tehran, they're all over the country. it is one of the great paradoxes of dictatorships, that at a certain point in time they become very, very fragile and when these new sanctions bite, it could mean a even more fragile mullah regime. stuart: let's see about that all right, sebastian, at the top of the hour i issued forth with a
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editorial, italian populist politicians are talking economic nonsense. i don't think the populists of italy don't have a problems to the europe and financial problems of italy. are you going to take me on? am i wrong? >> i don't think we're in big disagreement. i'm very excited about things like "brexit" and of course the trump phenomena. because you're annoyed with bureaucracy, administrative state, politics business as usual, doesn't mean you have the answers. the answers have to deal with entitlements. they have to deal with immigration policy. you have to deal with the fact that you have 11% unemployment in italy. you have a government debt ratio of almost 140%. these are things, you don't solve saying italy, italy, italy. you have to have some actual answers and these guys really don't. stuart: i suspect you and i agree on this, it all goes back to america americas opening the door to millions of --
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angela merkel. millions of migrants. that started whole ball of wax rolling. i put it all on her doorstep, how but? >> no, i absolutely do. when you have an individual who detaches reality from other ideology, she said, what was her new year's eve statement a year ago, the greatest threat to our nation is jihadism, but we will have zero limit on immigration of refugees, well then you're living in fantasyland f these people are not really refugees from the most part are becoming there because of the welfare state, because of the benefits and you don't have people paying into that system because you're not having children, well, it is just basic mathematics. sooner or later the whole thing has to collapse. stuart: when, do you think that is going to happen? do you think the euro as a currency is going to collapse? >> what have we just heard? the central bank, the european central bank was supposed to ease, supposed to wind down the
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quantitative easing later this year. i think crisis in italy means they can't do that. so, yes, i think the eu in the way it was originally envisaged by the bureaucrats has got maybe couple years left. it will be people who vote out and say, we want national sovereignty. at that point is morery bund -- moribund. stuart: sebastian, you saw it coming a long time ago. >> that's why i'm here. stuart: precisely. thanks a lot. here is a story yesterday, allergan recalling 170,000 birth control packs, the pills packaged in the wrong order. so the question is, do they work? very important question. doc siegs will answer in a moment. as for the market, bounce backed? not hugely strong. we're up 145 points. that is over half a percentage
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stuart: there are not that many losers among the dow 30 today but ge is one of them. remember, please, it was down 3% yesterday. it's down again today, barely above $14 a share. drug-maker allergan recalling its birth control pills. this is because the pills were packaged in the wrong order. we will explain this. first let's bring in fox news medical correspondent dr. marc siegel. let's see if i got this right.
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the last four pills in the cycle, in the little box, they're supposed to be placebos, have no effect. in this case with the allergan pills, those last four pills were packaged first. so women were taking placebos for the first four-days as opposed to the real thing. they have a liability problem? >> absolutely, stuart. the name of the drug is taytula. there is one lot number, 562076, expires may 2019. it is still on market. the regular pill, is pink. the placebo, four purple. the four purple are supposed to be at the end of the month. the 26 pink, are hormone anily active. they suppress the cycle. if you reverse them, you have a big chance of pregnancy. somebody gets pregnant they didn't like to, they found out they were marketed wrong, the company has a problem. stuart: is this a relatively small-scale problem, in the sense that, only sense that,
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170,000 of these birth control packages were put on the store shelves? >> there could be a large-scale problem. look, i can't give you the percentage of who could get pregnant that way. i'm not say the pills won't work. they may still work with the cycle reversed but not in everyone, that is a lot of people, over 100,000. the real issue how much information can get out there fast enough, how many people would say this, wait a minute this, is wrong. a lot of people are really smart about how they take birth control pills. they say wait a minute. that is how the work came up, patients told doctors who went to the manufacturer. they're pulling it off-the-shelfs. i predict some people will get pregnant, ouch. 5620706 get them off-the-shelfs. >> absolutely. absolutely. this is points out how birth control work. they can be quite effective. they have to be taken right away. stuart: thank you, doctor. there will be more "varney"
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♪ stuart: oh. it is a great song. i thought we had that recently? liz: i don't know. i love it. stuart: it has been 30 days since we last ran it. that means we don't have to pay anybody when we run it again. ashley: because we don't have the budget for that. stuart: let's get to serious money, shall we? we may be off the session highs of the day but we're still up nicely, up 144 points. just about 24,500. investors not impressed with the issue discounter, dsw. did not get a rosy outlook. down it goes, down 10%. same story at michael kors, disappointing outlook, down
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10.6%. on other hand we have rosy forecast from hp division, they make computers and printers. got a rosy forecast. up it goes, 3% on hewlett-packard enterprises. we have thomas lee. here is a man who is not afraid to go out on a limb, are you? >> that is research. we have a view and stick to it. stuart: was yesterday's panic, a one-off shot, it is gone, we don't have to worry about italy any longer? >> i think it can get worse but as you know markets usually overreact and yesterday was an overreaction. stuart: it may come back to kick us again in the immediate future. >> for investors that own u.s. equities this would be a moment to buy. this will not trigger a recession in the u.s. this is not something creating a risk for u.s. companies. so i think we should see this as buying opportunity. stuart: voice of reason. well-done, young man. microsoft, i want your advice on
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this. it is more valuable than google. i was really surprised at that because google is more of wide-ranging company, into a lot more things. microsoft is basically the cloud and personnel computers. >> that's right. people think the microsoft was story of the '90s and there is new companies but at the end of the day microsoft is still essential how we do business and we run our lives and they make a lot of money and it is a reasonably-priced stock. i'm not surprises it is neck-and-neck or slightly larger than google. stuart: one. big banks on wall street says it will go to $130 per share, that would make it a trillion dollar company. do you share at that view? are you bullish on that? >> software is a great business. they make a lot of money. i think they are a well-intentioned company. they're not trying to do everything evil with our data. i could see it, yes. stuart: you would see it within a year? >> yes. the stock -- stuart: that would be a
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phenomenal gain a company the size of microsoft to go up another 30%. it would have to go up 30% to reach 130 bucks a share, that's a huge move. >> yes. if you look at the last 10 years, technology has become a bigger part of our lives, so tech as part of s&p will keep growing. i think s&p, is 25% of the s&p, i think it gets to 25% in the next decade. stuart: that is a big deal. >> technology is replacing a lot of traditional business. it replaces media. targeting health care now. it will replace banking industry. stuart: that is america, technology, isn't it? >> yeah. it is the pride of the u.s. a few sectors u.s. dominates, health care, technology and we're strongest in technology. stuart: bitcoin, you went out on a limb last time you were with us. you said it would hit $25,000. this morning at 7491. are you sticking --
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>> we think bitcoin will be 25,000 by end of this year. that is roughly 5% substitution of the gold market. it is not some her kuhlian presumption. stuart: do you know this for a fact, people instead of buying gold as a haven they're buying bitcoin as a safe haven? >> we never have perfect knowledge. yesterday was perfect example. it was risk-off today. bonds rallied, gold rallied. bitcoin had a huge day. i think bitcoin is considered a safe haven instrument. stuart: why would it break out like that though? if you go from 7,000 to 25,000 that is tripling the value of bitcoin. why would it break out in such a dramatic -- >> number one, annual perspective calendar year return is probably closer to 50% gain for bitcoin. in any 365 day year, bitcoin's price gains occur within only 10 of those days. in other words if you don't own
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bitcoin 355 of the wrong days, you actually lost money owning bitcoin. bitcoin's returns are concentrated 10 days. we have a lot of days between now and year-end. there is a lot of reasons people are adopting blockchain. at the end of the day it is safe haven asset. a way to deal with issues with government and trust around banks. it is a very easy way to transfer money. it is turning out to be a pretty good store of value. i think it is attractive because it's a really robust technology. stuart: have you caught a lot of flak for going out on wall street and being a bitcoin, not promoter, i will not say that but a bitcoin advocate? >> yeah it is difficult for traditional investors to understand an instrument that doesn't pay cash flows or dividend but then again currencies don't pay cash flows or dividend either. there is a lot of body of work valuing currencies. at the end of the day bitcoin does generate cash it awards
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miners with block rewards. paying 7 billion of awards. stuart: do you own it yourself? >> yes. stuart: you own a couple of bitcoin yourself? >> yes. stuart: i will leave it at that. did you get in early? >> yes. even at current price of 7 a -- 7500, it costs roughly $6,000 to make a bitcoin today. in other words the mining industry all-in coin to produce a bitcoin 6,000. someone buying bitcoin here is not paying some astronomical multiple of mining cost. if you look at gold, gold is trading roughly two times its cost to mine. stuart: i find it fascinating. very hard to get to grips with. can't touch it, can't feel it, can't see it, it is there. >> takes time. internet was something people couldn't touch and feel for a long time but now it is part of our lives. stuart: yes it is. thomas lee, thank you for joining us.
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sanofi, the maker of ambien respondedrosanna san bar, people of all races religions, work at november if i, all pharmaceutical treatments have side-effect, racism is not a known side-effect of any sanofi medication that came out from sanofi itself. let's make that clear. howard kurtz, "mediabuzz" host and author of, media madness. abc, the network will lose millions of dollars in revenue canceling this. but i think they made the moral, entertainment value move. i think they should have done what they did. do you agree? >> i completely agree, stuart, the striking thing how quickly abc made the decision, no three or four-days of hand-wringing, committee meetings, roseanne is out. we can dispens with the ambien
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defense, that is pretty lame. roseanne had it right in the bizarre tweet storm overnight, what she said was indefensible and asked people not to defend her. all right, roseanne, we'll not defend you. abc made the right call, she touched the third rail of race on this attack on valerie jarrett. stuart: in the future do you think there may be restrictions on a star's use of social network and social media? this is obviously the result of a twitter rant. do you think there may be restrictions in the future? >> if i'm running a network and paying a star millions of dollars to appear in hit show, roseanne has to take credit for creating show a trump fans like the show for obvious reasons, i don't want to person going unhinged with ambien, she has done this for years, conspiracy theories from 9/11 to nazis. i don't think it is totally unreasonable to put a clause in the contract.
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abc executives knew exactly what they were getting with roseanne. they talked about this they hope they would get the good roseanne, one who is funny on television, not the unhinged roseanne we've seen too much on twitter last couple days. stuart: why no compromise action? straightforward, you're gone, you're finished, good-bye? it could have been, all right, you can come back, but don't ever use twitter again, don't ever do anything like this again. if you do it, you will be out? that would have been a compromise, but abc rejected that entirely. why? >> some networks might have done that. some other news outlets have done that. comedians and television personalities have said dumb, crude offensive things on twitter or on the air, but abc executives who have been trying to position abc as a network of diversity, tolerance, all that, just felt she crossed the line so far. she defended it. the way in which, what planet do you have to be on to talk about "planet of the apes" and a black person? i think abc made a judgment, it
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will lose probably $60 million in revenues. had number one show, got a lot of praise putting it on the air, the line roseanne bar crossed was to egregious, there is no rehabilitation. you won't see her on any other network, stuart. stuart: she will not be rehabilitated. will you see any other comedy which portrays trump and his ideology and his actions in a positive light? >> i hope so. i hope that the fallout from roseanne's unforgivable rants here online is not that no other network puts on a show that speaks to that part of the country that likes donald trump. i think abc touched a cultural nerve with this reboot. that is not wiped away from the fact that the star takes too much ambien and spews too much ugliness on twitter. stuart: you and i agree entirely. howard kurtz, thanks for joining us, sir. appreciate it. yes, sir. coming up president trump welcoming joshua holt coming
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home this weekend. he was locked up in a venz vennian prison for two years. his mother made a plea to get him released on this show by the way. utah senator mike lee helped get him out. he joins us next hour. the president looked like he was in full campaign mode. with five months to go go in the midterms. the republicans are running on his record. martha maccallum is here on that one. ♪
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♪ ashley: conservative activist charlie kirk agrees roseanne barr racist tweet was reprehensible. but he also believes there is a bit of a double standard. >> i agree the tweets were totally detestable, with that being said i think there is double standard that exists. joy reid from msnbc who published repeated bigoted and intolerant writings towards the lgbt community for years, lied about it, tried to cover it up, had help from nbc executives to cover it up, play as victim, fake apology and heralded some sort of hero stepping up. no way what i'm saying what roseanne said is acceptable. there is double standard, even if you're a smidgen to the right and you say something you
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regret, apologies do not matter.
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stuart: bang, right about, there you go, just as we went back on the air we had a 200-point rally for the dow industrials. a big gain just in the last few minutes. no particular factor to bring into the argument here. maybe yesterday's downside move because of italy was overdone. we're up 201, 24,562.
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look at they gave a rosy forecast. this is a cloud software-maker. they are up 1.8%. nice gain for sales force. now then, president trump, well he was in nashville last night. he was stumping for marcia blackburn in her senate race in tennessee. roll tape. >> we're not making apologies. we're not making excuses. we're respected again as a country. i don't want to cause any problems. [cheering] but in the end mexico is paying for the wall. phil bredesen, i never heard of this guy. who is he? who is he? [booing] he is an absolute, total, tool of chuck. of chuck schumer. ashley: hello. stuart: caught me. i'm very sorry. the host of "the story," martha
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maccallum with us to discuss what was going on in nashville. >> good to see you, stuart. stuart: that was a robust style, we shall say. do you think it goes down well with voters overall, not just his base but overall? >> it resonates a number of levels with a lot of voters. i think it is very interesting we've seen closing of gap in generic polling. 13, 16 months couple months back. now down to 3 to 6 points, democrats over republicans. that gap is closing. i think when the president gets out what he did last night he is hitting number of reminders for voters across the country, in terms of what is going on in the economy, sees it as a positive. i go back to why he got elected, people wanted someone to shake things up. not all people, but people that voted for him. they're definitely getting what they bargained for in number of ways. phil bredesen is former governor of tennessee, former mayor,
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long-time mayor of nashville. he is very popular in tennessee, that is why you didn't see bob corker coming out with a full-throated endorsement of marcia blackburn. i like phil bredesen. he will be tough to pete. she is down five points in the "real clear politics" average. president sees this as area that could use his help. stuart: he stood the crowd up last night. they were his supporters. some were waiting over a day to get in there. of course, that style goes down well, with his core supporters in tennessee. >> right. stuart: i got it. >> yeah. stuart: but what about the rest of the country? >> i think if we learned anything, stuart, his style will not change. the style works or doesn't work. but what i find really interesting this is a president, he loves to campaign. stuart: yeah. >> not everybody loves to campaign. president obama i think did it because he wanted to help. but that drive, that sort of bill clinton drive, that lyndon johnson drive, where they just
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love to get out there, and could go on longer than people even want them to, is a unique quality that not all presidents have. whether or not it will work for him in the end, i don't know. i guarranty the style is not going to change. stuart: whoever is the next president of the united states has extremely difficult act to follow because, it would be very difficult to just be a regular president. this is a president like we've never seen before. >> you know what? i really wonder if we're in for a change in terms of what we get as a president. we live in a different world. i mean when you look at the polling on who people like, the known politicians, the cory bookers are sort of at low end of the spectrum. oprah winfreys, michelle obamas are at the top. name recognition has always been important in politics, but now, it is almost necessary. i mean, if folks, people, a lot of people don't do a deep dive on reading their politics and keeping up with, but if they see
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you on tv, they feel like they kind of know you, which they definitely felt with donald trump, from all those years on "the apprentice," it goes a long way. stuart: have you ever thought of running for office because you're very well-known. >> absolutely not. absolutely not. stuart: i couldn't deliver a speech -- >> you know what i couldn't do? the fund-raising. you have to be a salesman, right. i'm a terrible salesperson. i love to sell a story. i love to get excited about a story, but you really, you have got to love that part of the business. that is what ends up driving most people out of it. stuart: unless you're a 10 times over billionaire and you fund your own campaign. >> true. stuart: but you're not. >> everybody needs money. even those guys, they don't want to spend their money in the end, right? they want somebody else's money, martha, we'll watch tonight. >> thank you very much. stuart: getting your hand on tesla's $35,000 model 3, still something of a pipe-dream but chevy's all-electric car is
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available right now. so how does it drive? we're about to tell you. we will show you no less. ♪
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stuart: we are close to the high of the day. the dow is now up 208 points. that is almost 1%. that puts us at 24,500 and firmly so. now chevy, they're giving tesla's model 3 a run for its money. they have all the all-electric bolt. auto editor gary gas tell law. he has got one of these things. he is driving one of the bolts. gary, talk about so features i can get right now as opposed to waiting a long time for the tesla model 3. >> one of the things, we're here to check out today, it is the power of this thing. it has 200-horsepower. it is really kind of the hot hatchback of the future. you know the bolt, one of the big selling points is the fact it can go 238 miles per charge but actually very quick. i was out here driving a volkswagen gti earlier, this held its own. even though 500 pounds heavier, even a tall crassover than a
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small hatchback. compared to the model 3 you can't get yet under $40,000. this is almost as powerful and almost as quick. it is a lot of fun. it is really not the sort of thing you would buy to do this sort of thing with, out on the real road it's a spirited car, and pretty much a lot more fun than you would expect from a electric economy car. you know, again, tesla said you will not be able to order the model 3 for under $40,000 three to six months, but until then you can pick up one of these and it is not too bad. stuart: wow. i don't think we put in the sound effects there but i can hear squealing of tires as he goes around the corners. gary, thank you very much indeed. that is the bolt from chevy available now. got it. here is what is coming up for you. president trump welcoming joshua holt this weekend. he was locked up in a venezuelan jail for couple years. his mother made a plea to get
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him released, on this program. utah senator mike lee helped get him out. he joins us next hour. . . to develop a single medication. and only 1 in 10,000 ever make it to market. but what if ai could find connections faster. to help this researcher discover new treatments. that's why she's working with watson. it's a smart way to find new hope, which really can't wait. ♪ ♪
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stuart: it is 11:00 o'clock eastern time right here in new york and we are starting with the markets, why not? just look at that. 28 of the dow 30 are in the green. that means they are up and the dow industrials are now at high of the day. that is a plus 218 points. oh, what a difference from yesterday. charles payne joins us now. the host of making money with chacials payne and he has a good -- i don't know about good fortune. [laughter] stuart: he was on the air doing this show at 11:00 o'clock yesterday morning and the selloff began in the hour. charles: bottom fell off the market at 11:00 o'clock as soon as european markets closed. it was pretty interesting, how much exposure to all of the stuff happening in europe, particularly in italy.
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stuart: i was watching and i think it was overdone. i think it was overdone, whether it appears again in the future, i don't know. i think it was overdone. charles: i agree with you that it was overdone. the political i'm not sure. we are seeing rebuke of eletist establishment. the citizens of italy where bureaucrats were able to dictate who gets a job, i have to tell you, that's dangerous stuff. stuart: the politicians in italy are proposing 960 bucks a month, lowering retirement age. charles: this is the problem you have, because you have so many parties, it's almost imagine the bernie sanders and donald trump won and had to share presidency. so we would have some of bernie sanders stuff, that's the 5-star
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and some of donald trump, the northern league. northern league would be the number one party in italy and it's got so much momentum behind them, people are fed up with the country, with the establishment and redistribution of hard work. stuart: let's suppose that the euro breaks up, italy goes down this road and the euro breaks up and all hell breaks loose in europe, why would that be really bad for us and our money in america? charles: it's global economy, we export and import a lot. listen, we saw what greece did to our country and economy. tinny greece, a spec, so it would be horrific. we see 5-star ready to blink, that's the bernie sanders side. having that, the market was reacting. stuart: it will rear its ugly head in the future?
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ashley: elections in the next month of months. to charles' point, if the northern league comes stronger to form government, then a very euro skeptic as we know that could upset the card. liz: spain is having issues too. stuart: comes back to haunt news the future. charles: it does, here is the bigger problem, we have been trading for since january 26 and the market to a degree -- we have been victimized by our own success and it was really articulated in the very beginning earning season when she said this is a high-watermark that's echoed ever since, is it the best, can it get better than this, we have intimidating and afraid that this is as good as it gets and markets reacting. stuart: i want to thank you for doing the hard work. charles: thanks a lot o. we have a lot of fun and the company gets to talk more than normal.
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[laughter] charles: i'm just joking. liz: we love you. charles: you put amazing show and amazing team. stuart: you're right on that one, that's for sure. [laughter] stuart: thank you, charles. liz: funny. stuart: let's go to white house, kevin, chair of the white house economic adviser is with us. kevin, welcome back to the show, sir. >> great to be back on an amazing show. [laughter] >> i'm about to change that, i'm sorry. stuart: we all know that. all right, kevin, we have the economic numbers this morning, first quarter, first three months of the year, we are growing only 2.2% a year. you can't be happy with that? >> right, it was the slight downward division, you and i talked about it before. the first quarter keeps looking low compared to the rest of the year. it's been doing it since 2010. probably off about .8 percentage
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points. 2.8 is really a 3. the capital spending boomed back when i was having the tax debate back in the fall. i said we'd expect to go up next year because of cost of capital, in the first quarter 9.2%, that's pretty good, right? stuart: right after the report came out this morning, did you hasten to tell the president, don't worry, we will be up in 3% in the second quarter and more than that, in the third and fourth quarters, did you predict that to the president? >> well, i think if you look at the realtime gdp now at atlanta fed and we have our own, north of 3 for the second quarter. gdp as of this moment is at 4%. so i think that we are starting out the quarter looking very good, looking very far north of 3, that would be consistent with our seasonal estimate for the first quarter which is about 8 tenths of a percent. there's also pretty strong wage growth. economic growth was 3-point, 2.8% in the first quarter.
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basically a strong report, sure, i wish it were stronger but i wish there weren't residual seasonality in the quarter. stuart: all the trouble in europe do you think could upset us down the road? >> yeah, i thought that your previous guest exactly nailed it. a lot of uncertainty right now. we had a brexit. and i don't know, have we figured out what to call the italian exit, i'm not going to try. but the fact -- it's a lot of uncertainty and markets don't like uncertainty. ready to help out if they're needed. in the end markets will be able to work through it. you were right when you said that we will see more uncertainty as this evolves. stuart: one problem which i'd like to raise with you is the -- the employment situation. there are far more jobs
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available than bodies able to fill jobs, we have a skill shortage and that's not going to go away very soon. that's a problem for the whole economist performance, suspect it? >> in donald trump's economy we have the most job listings we've ever had and in some states like colorado we have half unemployed worker per listing. usually what happens in the cycle is that when workers get scarce, firms recognize that they have to take the people that they have and make them more protective and they start investing in machine that is make people more productive. that's what we saw in the first quarter. capital spending was up 9%. that should be good for gdp going forward. and that should also mean higher wages. stuart: do you see at any quarter over the next year, two years 4% growth? >> i would get that we are going to grow this year 2.3 -- 3.2 and
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3.3 and you probably end up with a 4 at some point. probably 30 or 40% chance of happening. stuart: may 30th, 2018, kevin hasset on video tape probably get 4% quarter at some point in next year or so, yeah? >> i'm sure that i will be back on the show, getting the tough questions from mr. varney. stuart: no, no. [laughter] stuart: kevin, thanks very much, thank you, sir. >> thank you. stuart: we will check some other markets for you. nice rally for stocks, how about the price of oil? nicely higher, thank you very much, $68 a barrel as we speak, that's up 1.47, 2% bounce-back. how about the price of gas? holding really steady at 2.96 per gallon, it's actually down a fraction for a couple of days in a row but just a fraction that's all it is. on your screens now 3-dollar club, there are 16 states plus
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the district of colombia where the average price of regular gasoline is $3 or more. still very expensive in california. i want to tell you about a man matthew charles, from nashville, served 21 years of 35 year sentence for dealing drugs, released in 2011 as part of federal program, the government appealed his release. appeal on technicality and they ordered the guy back to prison, even though he had rehabilitated himself. candice calling on president trump to pardon charles, she's with us next to discuss that case, matthew charles. >> despite the fact that alleged black leaders disrespect every possible turn, he is dedicated to fixing so many crisis that are going on in the black
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community and he does that every single day. he has so much energy and passionate about it and genuinely cares. ♪ with expedia you could book a flight, hotel, car and activity all in one place. ♪
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stuart: tmz report that is the reality star kim kardashian is headed to the white house to meet with jared kushner and possibly president trump, she's pushing for the release of 62-year-old alice mary johnson who is serving a life sentence for nonviolence drug offense. there's also a push to get matthew charles out, a man from nashville, he served 21 years of 35-year drug sentence, he was released in '16 but a higher court ruled it was release in era and sent him back to prison
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even though he rebuilt his life and underwent remarkable rehabilitation during time in jail. that man on the left. our next guest tweeted about it, here is what she tweeted. this story broke my heart. it is my deepest hope that president trump will consider a pardon for this man, trump has made great strides already in the area of prison reform and this story is worthy of his attention. no american deserves this. so come on in candice owens turning point usa communications director. candice, always great to have you back on the show. >> so happy to be here. stuart: do you think that president trump is the man to take con criminal justice reform, is he leading that? >> he absolutely is leading that charge especially with jared kushner behind him. jared kushner is incredibly passionate about prisoner reform. he grew up with a parent in prison, he understands how it affects people's lives. i have fortunate enough to meet with the president on friday.
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stuart: prison reform, judicial reform is a key to the black vote, it's what the african-american community is pushing for almost more than anything else, i believe, so does the black community in america understand what the president is doing here in. >> they absolutely do. i actually spoke with my father and he's been ify on donald trump but he was about the johnson pardon and how big it meant to him and what it means to black community, people that they feel were unjustly put in prison for very long sentences and the president understands that. he was educating me on some of the terrible things that have happened in the black community and it is his passion. people think this is a pr stunt for the president, has not, it's something that he believes deeply and continue will push on while he's in the the white hou. stuart: you spoke at stanford university along with charlie, founder of attorney point usa. you're a conservative and stanford, california, is not,
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how did it go? >> you wouldn't have thought it wasn't conservative last night. it went unbelievably well. i have to tell you, the energy in the room, we actually invited the press, we invited, nbc to actually see what we are doing and what it's all about. the kids were excited but the most remarkable moment was a young black man who stood up and he asked us a question, he said he was a liberal and finally start today look at the stats and he finally start today understand that black lives matter is not a black interest group whatsoever and started to shout, i am free, i am off the plantation that the left has created and it was incredibly emotional beautiful moment. stuart: what was the reaction to have crowd to that young man saying that? >> he stood up and everybody jumped up and started applauding and he got a standing ovation,i gave him a hug and afterwards he found me and he said, thank you, thank you so much for putting the truth out there. thank you so much for being
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courageous and i said, i want to work with you. we are going to have that moment up later today for everybody else to see. you can literally feel the emotion and passionate in his words and we are so fortunate that we get to share that with the world. stuart: now we are so used to congress servetive speakers being shouted down especially in california, often not even allowed to speak at all. what was the overall response? did you get through the whole speech without interruption? >> it was bizarre, i don't know it was because our last event but we got through everything without any interruptions whatsoever and we have done ucla, berkeley and that was not allowed. we were being screamed at and taunted by black lives matter protestors and antifa but this event, the energy, people were so excited, everybody was making maga hats and shirts, i don't know if they were happy to see ideas reflected on campus, i can't imagine any publication can write anything negative. tremendously positive event. stuart: maga hats on a
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california campus. that's fantastic. candice, very much for joining us, keep in touch, please. >> thank you for having me. stuart: i want to alert audience for this, the university of memphis will now offer free tuition to the children and spouses of fallen service members, now average tuition there is 9,700 a year, the new policy would take effect this fall. it's free if you're a spouse or you're the child of a fallen hero. we like that. look at dick's sporting goods, individual stocks making moves here. rosy forecast and the stock reacted with 26% gain. the discount shoe warehouse dsw did not give rosy forecast and it's being punished, down 9%. the fbi telling us to reset routers, they discovered a malicious software attack, officials now say that the best
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way to fort it, turn your router off and turn it back on again. the attacks believed to be linked to russians. the fbi says attacks can stop router from working and collect your data. thousands of train conductors and engineers on strike this morning, they walked at the job stranding commodities that are shipped across america. they are striking over benefit increases and better work schedules. and there's this, a woman gave a negative review to a doctor on yelp and now defending herself and defamation lawsuit filed by the lawsuit. woman said she pent 20,000 bucks on legal fees, napolitano on that, what's the point of yelp if you can't leave bad review without getting sued? ♪
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near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. stuart: honda unveils a brand-new jet, it is called the honda jet elite. maximum 486-miles an hour, altitude 43,000 feet. it has noise reducing agent and speakerless sound system.
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looks like a private jet to me not commercial. has created a drone, looks like a drone. the silent flyer. inventor says it's so bird-like that radars can't tell it apart from real birds. drone could come in handy for law enforcement and military, the cost 80 to $90,000. a coastal community in california features 609 acres of portable homes called roving rooms, powered by solar panels, tesla batteries, 300 square feet in size and the cost but 300 square feet $250,000. a 9-year-old boy from south carolina raised nearly 6,000 bucks selling lemonade to help cover his sick baby brother's medical bills, hospitalized with rare neurological condition, he will use the money to help can dylan's medical bills and he
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will buy him teddy bear too. joshua holt's mother on the program pleading son release from venezuelan prison, over the weekend he was brought back home from utah, spent nearly 2 years in venezuela, caracas. utah senator mike lee, is the president getting enough credit for getting holt out. >> mr. president, i can't tell you how much i appreciate you. as you know, i was the one guy who really supported you 100% and i do now. i think you're doing a terrific job and this shows why we support you.
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stuart: rally is maintained. we are off the high of the day but still up almost 200 points, the better part of .8%. 24.5, we are looking good. a week ago on this program the majority of joshua holt, american missionary prison in venezuela. she made a plea to bring her son
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home. show me again. >> i know that senator hatch, the embassy, their in venezuela are working very hard to try to get him out and this is what they have been telling me and i just have to trust in that. stuart: over the weekend joshua holt did return home and he did meet with president trump. joining us utah senator mike lee and author of the book written out of history, the good senator is with us today in new york. welcome to the show. >> thank you. stuart: do you think president trump is getting enough credit, right amount of credit for bringing mr. holt back to america? >> i think he's getting credit and justifiably so, the fact that he was focused on this helped, the fact that bob corker, the chairman of the senate foreign relations went down there and met with president maduro helped also. we had senator hatch, congresswoman love and secretary of state all helping, worked
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together and help today get him out. stuart: was any money paid, i have to ask you? was any money paid? >> to my knowledge there wasn't. it doesn't necessarily mean that it didn't happen. stuart: was any threat made? >> i don't think so. stuart: senator corker went to caracas and spoke with maduro. did he hint -- >> i don't think so. i don't think it would be in bob corker's nature to level a threat against foreign head of state in that context. i think there was a conversation, president maduro concluded that it was in his interest to release the prisoner and grateful that josh holt is back with his family. stuart: do you think it changes the opinion of the maduro regime? >> no, this is not a regime that's friendly to the united states or our interest or our view on liberty or good government. stuart: so he was trying to get on our good side? >> perhaps. stuart: just in case we were thinking of doing something
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dramatic? >> maybe so. stuart: what do you she we should do with venezuela? >> we can't be the world's policemen. that said, this is a particularly bad regime. stuart: should we boycott oil and say, we ain't taking any of it? >> perhaps. stuart: perhaps? >> not my call to make. stuart: okay. i want to talk about your book, written out of history. this is about some of the founding fathers. >> yes, it is. i focus in this book on some of our founders who are less known who aren't necessarily discussed in history books as much as they should be. talk about people like mercy and mumb b et, african slave in colonial massachusetts after the revolution realized that the massachusetts constitution of 1780 declared audiotape human beings to be free and equal. she realized that she being free and equal could bring suit in court, brought common law action
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in massachusetts state court and eventually won her freedom. she thereby opened the door for so many other slaves, eventually all slaves in america to be free. it would take many decades but she started it in many respects, we don't remember her like we should. stuart: no, we do not. i've not heard that name or what that lady did before. it's in your book. >> yes, it is. good father's day gift. stuart: mike lee, republican from utah. now this, abc, yes, indeed, canceled rosanne following racist tweet and valerie. you could see tweet ended tv career. joining us susan li who has another example of terrible tweet that ruined somebody's life. >> yeah, i would argue, relatively unknown, i want to talk about average folks and
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unless you are kim kardashian or kanye west twitter is double-edged sword. relatively unknown senior communications director at investment house that owns tender, cupid, and tweeted i'm going to africa, hope i don't get aids, just kidding, i'm white. now, communications director it might be puzzling why she would send messaging, afterwards she was fired from iac and she did apologize and i should note, she's been hired by iac and works with match group. shows that you don't have to be celebrity in order to suffer on twitter. stuart: watch out twitter. by the way, president trump he just tweeted this about the roseanne controversy. i will read it for you. bob iger called valerie
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gentleman ret -- jarret to let her know that abc does not tolerate. he never called donald trump about horrible statements made about me in abc, maybe i didn't get the call. [laughter] there's mr. president. liz: i don't think he needs to be anywhere close to this controversy. stuart: susan, thank you very much, indeed. good story, now this, a woman who wrote a negative yelp review for a doctor is now defending herself in a defamation suit filed by the doctor. michelle levine said she spent nearly 20,000 bucks and ul started the doctor sent her bill for treatment she never received. all rise judge andrew napolitano
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is back with us at the 11:00 o'clock. >> i'm sharing my head over this one. stuart: why? >> you would leave a yelp review if it's going to cost you $20,000 in legal fees, it's opinion, qualified opinion. the qualification is that there's a basis for it and the opinion is the true opinion. end of the story. it's frivolous lit -- litigation. stuart: you shouldn't be sued for offering legitimate opinion but, now i don't know the circumstances here, but if this lady lied about what the doctor had done to her specifically saying, you know, you didn't treat me the way -- i paid for treatments which i did not receive, that's a different from expressing an opinion. >> yes, it is, but in this case she said, he's not a good doctor, i didn't enjoy going there. i didn't get what i thought i was going to get, end to have story.
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that should not be the basis for litigation, but i want to tell you something, you have a home owner's insurance policy and apartment's policy, it costs nothing to get defamation writer and the carrier pays the bill. ashley: we all can buy and put reviews on yelp. >> it's very inexpensive for anybody to get whether they are in the media as we are or unfortunate woman who just expressed an opinion on yelp. very famous case where a person criticized the chinese restaurant, the judge actually let the chef of the restaurant prepare the food that was allegedly the basis of critical review and the jury ate the food. this is how absurd these things go. right here in new york city in the same white house -- courthouse that the woman is complaining.
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stuart: it is your fault. why didn't the judge throw it out? >> i don't know. we have rules for frivolous litigation that impose on the plaintiff that the defendant's costs when the court finds that the litigation was frivolous. stuart: if the judge throws it out and says this is frivolous, that judge he or she may lose on appeal and that judge, he or she would look bad. >> you're right. should the courts be clogged with this kind of nonsense or british tourists suing magicians as we talked about it at 9:00 o'clock hour? stuart: at 11:38 eastern time you did say on may the 30th, 2018, you said to me, you are right. [laughter] >> erase that tape, please. stuart: no, no. [laughter] stuart: thank you very much, indeed. quickly look at this. look at this. new high for the day. look at that. there we are.
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up 244 points. 24,600 just made it. that's what happens when the judge says, you're right. [laughter] stuart: look at this. microsoft, i do own a thin, microsoft more valuable company than google which is the parent company of alphabet, of course. look at that. 98.65. if it reaches --130. ashley: and you're out the door. stuart: tesla another auto pilot crash. crashed into a police car. doesn't get much worse than that. tesla is up 3 bucks. 286. netflix, i think that is the all-time high, extremely close to it. 352 on netflix. next case, franklin graham, son of late billy graham is touring california tone courage evangelical christians to get
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out and vote, remember, we are less than a week from the california primary and jim, california republican party chair is on this program after this commercial break.
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nicole: i'm nicole petallides with your fox business brief, amazon prime members listen up, the discount that whole foods expand across the nation, right now we are seeing amazon stock up about 11 bucks, to be more specific now, they're moving the discounts for the whole foods market to 12 additional states, that means expand to go additional 121 stores across 12 states out of 463 locations in the united states. so certainly -- also the whole foods market, 365, all of those stores, what kind of discounts does amazon prime members get, 10% sale items, discounts on popular items, free delivery if you charge over 35 bucks, you use the app the whole foods app and put amazon prime and get discounts at the register and the app has been soaring, jumped to top spot, number 18.
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stuart: two items out california. number one mayor, proposing stipend that people consider most likely to shoot somebody. he wants to get potential shooters a year and a half of counseling and up to a thousand buck ifs they avoid getting into trouble. the program is called advance peace and it's being advertised as a way to reach shooters before they act, that is california. and this one too, a chick-fil-a owner in sacramento will boost wages for his employees as much as $5 an hour.
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the owner is eric mason, he will also give supervisors paid time off and all employees get sick leave. he says he wants to keep good workers. how about that? then son of late billy graham, touring california encouraging evangelicals to get out and vote, we are less than a week to primary and joining us now california republican party chairman jim, jim, i'm not sure of the status of christianity or evangelicals in california, but do you think the reverend graham is a plus for republicans? >> well, i think the answer is yes, i've never met reverend graham, there is a direct correlation between church attendance and participation in the process as republicans, the more likely you are to attend church more than once a week, the more likely you are to vote republican, that said, church attendance in california as a percentage of the electorate is significantly lower than national average.
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i suspect the reason dr. graham was in fresno is because it's higher there hand in certain areas than the bay area. stuart: jim, you're putting it mooldly, i think christianity has been run out of town in parts of northern and southern california, that's another story and i won't get into it but i ought to. another, one, jim, latest poll democrat, he's in the lead, 25%, republican cox second, 19%, another democrat antonio villarosa not too far at 15%. would you say that the trend is towards the republican candidates in the california primary? >> i think so, i think everybody has expected the lieutenant governor gavin to finish first u john cox has been running second. donald trump endorsed john cox a couple of weeks ago in tweet, reaffirmed that in a tweet. now, there are a number of
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billionaire that is have put about $20 million into an independent expenditure to help antonio villarosa get into the top two, they spent a lot of time helping antonio, a whole bunch, almost $2 million attacking john cox and a little bit helping travis alan who try today divide the republican vote. this is going to go down to the wire but i believe at the end of the day they'll be a republican in the top 2, you can't get into the tops if you don't get into the tops, so we looking forward to november but we have to get through june first. stuart: now to be clear, it's just a top 2 regardless of party who go through to fight it out in november, so what you really want, you've got to have a republican in the top 2 otherwise the republican party is aced out, are you in favor of asking travis alan who is running fourth or fifth, are you asking him to leave the race?
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>> well, my job is to be neutral, i've had a number of conversations with travis, he's a good guy, he's been running fourth in almost every poll i've seen, national committee woman who spends a lot of time on the fox network has publishly tweeted that travis, it's time to get out, you know, i don't get to control who runs but we are making sure to get a republican in top 2. stuart: the biggest issue i'm told is gas imposed by the democrats and brown last year, likely initiative to get it reversed, that's your big issue, isn't it? >> it's one of the big issues. it's in november and right now the survey show that republicans overwhelming supportry peal of the gas tax independent voters supported by much a smaller margin an democrats actually
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like the gas tax and they're not in favor of repeal. this is a huge transfer of wealth from suburban and rural and mountainous areas to inner cities, this takes money that should go to building roads and gives it to bike lanes and mass transit, you know, jerry brown promised that he wouldn't support a tax that the voters of california didn't approve, but when it came to this tax, he decided to flip-flop and change his point of view, this was passed without any input from the voters and i think there's good reason, i think the fact of the matter is that if you tell voters that we will raise your taxes over $5 billion a year, we are not going to add one highway mile they will reject it. stuart: republican party of california, thanks for joining us sir and we will certainly see you before next week. got it. a couple of markets that we like to check for you, gold, right
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around $1,300 an ounce. not much change there. how about bitcoin? still around $7,000 an ounce, down a bit today, down 125 bucks. 7,003 -- 7,300. brian kemp, a politically incorrect conservative, he's a trump guy, gearing up for runoff next month. kemp joins us after this.
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stuart: our next guest calls himself politically incorrect conservative saying in latest campaign ad saying that he would personally round up illegals in his truck if that was needed. georgia republican and current georgia state secretary brian kemp. welcome to the program, you face lieutenant governor casey in a july runoff but he beat you in the primary by 13 points. do you think your round-up the illegals and stick them in my truck ad worked?
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>> no, stuart, great to be on with you, if anybody has the momentum in this race is us. we moved 14 points the last few weeks of the campaign, kind of separating myself from the other good folks that were running so we've got a lot of momentum, the guy that's been there just as long as been a mayor, 24 hours, couldn't break 40%. a lot of peopling coming our way and they are buying into the message that's basically behind that ad and that big truck that i started the business for the first time many years ago, tracking and deporting illegals that are here recking havoc. stuart: it sounds like both mr. kegal and yourself are trying to outtrump trump, does that sound right to you? >> my campaign, stuart is about putting georgians first. that's why i got involved as frustrated small-business person, i have been doing 30
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years, dealing with government regulations, taxes and i got frustrated and decided to do something about it and we need governor that will put hard-working georgians first. that's crystal clear now with the two candidates that are left in the runoff. that's basically what my conservative 4-point plan is all about and we have been talking to people about that literally for 14 months and that's why will be successful on july 24th. stuart: what's the main thrust of your campaign, is it illegal immigrants or is it the economy? which is it? >> well, it's both, i mean, look, we can't have the best economy in the country which we have a great business environment now, certainly govern governor led the charge on that, i have been supportive and appreciative of doing that, if our families are not safe and our business environment is not safe, you know, companies are not going to continue to come to georgia and they are certainly not going to go to parts of georgia where we are not seeing
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growth, we are not seeing investment, we are not seeing hard-working georgians with opportunities or their children and i want to be a governor that will tackle both issues. for somebody that's been involved in many small businesses running a big executive branch agency, i promise you, i could multitask and take on more than one thing at the time. stuart: okay, brian kemp, we will be following the election very closely. i promise. thank you for joining us, sir. appreciate it. we will be back.
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stuart: what a difference 24 hours make. 24 hours ago we were down 200. now we're up 264, new high for this day. the right to try bill is headed to president trump's desk. last week you may remember the
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house voted in favor of it which would allow terminally-ill patients the right to try unproven experimental drugs. the president is expected to sign the bill 12:30 today. that i think is good news. charles payne, in forfor neil cavuto. >> i'm charles payne in for neil cavuto. >> we're ready for anything the chinese state wants to do in defense ever our intellectual technology. in terms of this issue, this issue has united america. we have senator schumer and senator rubio saying exactly the same thing. we need to defend those crown jewels. charles: well, let's get reac


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