tv Varney Company FOX Business June 13, 2018 9:00am-12:00pm EDT
maria: thanks to our great all-star panel. thanks, everybody, have a great day, varney & company begins right now. stuart, take it away. stuart: primaries were good for president trump. in south carolina a republican who opposed the president went down to defeat, mark sanford lost at katie arrington, clearly the president has clout. in virginia, a protrump republican won the primary, corey stewart will face off against senator tim kaine. in nevada, republican senator dean heller sailed through after
the president urgeed cannon no back out. clearly he has influence. very big corporate news and it's going to reshape the entire media scene when a judge okayed at and, -- at&t merger. wait till you see what media stocks are doing, left-hand side of your screen. all up. big sports news too. this from the president, quote, the u.s. together with méxico and canada just got the world cup. congratulations, great deal of hard work. now the u.s. beat out morocco to bring tournament here. hopefully dispute with nafta partners will be resolved by 2026. varney & company is about to begin.
stuart: and he's back, earlier this morning mr. trump returned to washington from his historic summit with north korea in singapore and he just tweeted this. just landed, a long trip, everybody can feel safer than when i took office. no longer nuclear threat with north korea. meeting with kim jong un was interesting and positive experience. north korea has great potential for the future. question, what does china think of new relationship with north korea? to your money, futures turning positive and there was positive economic news this morning. we will deal with that shortly. stocks will open higher this morning. a federal judge cleared at&t's 85 billion-dollar bid for time warner, no conditions. look at all the other media players, all on up side.
we had the last, all of them, except comcast, 21st century fox up 7%, cbs up 3%, viacom 3%. look at the big technology companies, apple, amazon, netflix, facebook, they may well be players in the media game following the judge's decision and all of them up just a little bit so far today premarket. lizzie -- [laughter] stuart: look, i say, look, this is opening the flood gates for the guys with the money, big tech to take a look at the media players and i think they will be opening checkbooks. liz: content players. who has a balance sheet to do the deals and who has the rising stock prices, everybody does because you can use stock prices to do stock deals in acquiring companies. stuart: you have unlimited money. liz: this is the lay of the land, big change in media, here is the other thing going on, the white house got rid of obama-era
rules that said you cannot throttle or slow down or charge more for faster lanes for streaming content. so that means, you're right, stuart, netflix could be in play or content providers could be in play because either they pay more for at&t -- to at&t to get their content streamed at the speeds they want or the users pay more, so that means that, you know, they would -- you will tro have to see content guys looking around saying, we may need to sell ourselves if we need to charge more, if the fees go up. this is a big sweeping overturning of media and content landscape. stuart: one more point about the judge's decision clearing the way for at&t and time warner, charlie suggested that the judge may appeal. that's from charlie gasparino coming to us right now. i want to move back to primaries, yesterday's primary, five states, strong showing for protrump candidates, joining us
now 2016 presidential candidate, one of tm herman cain, looks to me like the candidates got a trump bump but i think it's far too early to say that the republicans have a firm lock on the house, they are still challenged by the democrats in november, right? >> you're absolutely right. it is a trump bump but also says something about the voters. voters are not stupid. they are focusing on the results that we are all enjoying, stuart, and that's causing them to vote for the republican canned dates in some of these elections, it's not a lock on november but certainly good indications. stuart: i think democrats have a problem with leadership which is not dynamic in the sense that's putting out new programs for investors -- voters to like come november? where is that leadership? >> the leadership is not there and their strategy of resist, resist, resist is not working
and it's not resinating with people. i think it was either your show or another show that talked about the fact that some of the democrats are going to hollywood of all places to try and figure out how they are going to put lipstick on their pig, the pig is resist, resist, resist. they want to try to come up with a message that the american people will swallow. i don't think the american people are going to be that gullible just because they find a cutesy way. stuart: you speak in short bites and i understand every single bite. [laughter] >> thank you, stuart. stuart: stay there, i have more for you. >> all right. stuart: yeah. you have to say something? >> one quick comment about your earlier discussion about that merger which is going through, remember, competition and consumers keep big companies on
the right path. i'm not overly concerned about it because ultimately if there's other managers that might be a good thing because competition and consumers, they keep them fair. stuart: okay, we shall see. there will be other offers. i will switch gears entirely back to north korea summit. i will focus on north korea's neighbor, that would be china, joining us author of the book, 100-year marathon, michael is the author and he's with us now, michael, a lot of people say that china was a winner as the result of this summit, do you buy into that? >> yes, i do. i think china is very pleased to have stability returned to the peninsula. they have very alarmed last summer. i think you covered it on your show, stuart. they got alarmed at talk of war and potential that president trump really was going to use military force on the nuclear facilities inside north korea, that's bad for business, it's bad for china is what i call the
100-year marathon to make china the number one economy of the world. they are quite pleased with the outcome. they also helped to bring it about and they did not back him up during period of threats last summer. they stood aside and they voted for the massive sanctions in in the un. i want to be a guest that you praise and cast short sentences and crisp answers. [laughter] stuart: you did well. i have to tell you. how would china feel about north korea becoming almost a strong ally of the united states with the united states as a protector of the kim regime? china wouldn't exactly like that, would they? >> you touched on their real nerve. that's what they are afraid of. they see the americans for the last ten years trying to encircle them especially in india and vietnam as well and now they think we want to add
north korea as part of strategy, it's not really true but there's business competition. china makes a lot of money in north korea already once they get back to it and they don't want american investors to start talking about mcdonalds, hotel chains and beach resorts. they think north korea is their market and we should keep out of there. south koreans are looking at ways to avoid getting -- eased the company. too long an answer, stuart. sorry. [laughter] stuart: that was a good one. you will be back if you're not careful. >> i want to keep up with herman here, short answers. stuart: you did fine. ly get back to herman right now. we have news on the economy. the number of households on food stamps has dropped. a lot of good coming through. has it gone past the media
screen because they don't want any good news to filter through, has it gone past the screen, sit reaching the voters? >> yes, it is. the reason you have low number of people on food stamps is because this economy under the leadership of this president and his administration have created a job for everybody that wants to work. a lot of people that were on food stamps, they wanted to dignity of work so they went back to work, that's one reason why the numbers have fallen so dramatically and i happen to think that they are going to stay that way. has it gone past the scrutiny, yes, is it because of this, the narrow lens of the liberal media is not going to report the magnificent results that we are seeing from everything in terms of first steps with north korea as well as the economic results but the people who look through
the lens, they see the results, they see the facts. so, yes, news like this relative to food stamps is getting through to the people that want to see positive results. stuart: stay there, herman, more for you in just a second. check out the money for the day, we will open up ever so slightly, around 25,300, maybe 400, we are up there. look at tesla, it's cutting 9% of workforce, it's about 4,000 jobs, most of the cuts will be salaried employees, not assembly line workers. musk calls the move difficult but necessary. the stocks closed at all-time high. environmental group backed by the liberal billionaire tom in very hot water for hiring convicted felons to knock on doors and collect signatures, full details coming up. president trump gets summit in north korea and all he gets from the left is scorn and criticism.
they won't give him any credit. we will be back. after the other car got a scratch so small you coulda fixed it with a pen. maybe you should take that pen and use it to sign up with a different insurance company. for drivers with accident forgiveness, liberty mutual won't raise their rates because of their first accident. liberty stands with you. liberty mutual insurance.
stuart: well, look at this. h&r block for tax people, they are looking forward and they see the trump tax plan really hurting them because it's going simplify things, you don't want that if you're a tax preparer, the stock down 18% at the opening bell. big drop for h&r block. let's get to tennessee race, the latest real clear politics poll is average of polls, democrat phil leading marsha blackburn by about 4 to 5 points. congressman blackburn joins us now. the democrats have got a super pack with $80 million and you are behind the poll, rcp poll, what are you going to do about this? >> we continue to work hard every single day and, you know,
stu, we've said all along that the democrats will have the media and the money in their favor and we are fully aware of that. it's early, we are working, we gained steam and momentum every single day and, you know, we know what's going to be coming at us, the media is going to be with them and we know the game plan. stuart: i want to turn for a second to the north korea summit, democrats waste nod time criticizing the president's north korea summit. roll tape for a second. watch this. >> it is worrisome, very worrisome that this joint statement is so -- >> this is the weakest statement come out of any engage mint with north korea. >> i'm glad there is now the opening for serious discussion, the next thing is that it takes place. >> diplomacy done a a whim without preparation and without deep study without clear agenda means not really diplomacy.
>> we've got a long way to go. stuart okay, senate foreign relations committee bob corker, fellow republican, fellow tennesseean. i'm glad the president and kim were able to meet it's hard to know what concrete of nature has occurred. how does summit go down in tennessee, your constituents? >> we are so pleased to see is that the president is challenging the new access of evil which is north korea and china and iran and russia and when they hear some of the statements, there's a few things they unpack from that. first of all, they mentioned that it used to be in times past you had politics in at the water's edge and then you pushed to keep america first and they appreciate peace through strength. they appreciate diplomacy, they
also find it amusing, pardon me, that you get the statements when president barack obama chose to lead from behind. that was his strategy and they were all supporting that and i think one of the things -- when i listen to these comments, stu, i think, somebody wants to say mike pompeo or secretary of state who is doing a brilliant job is not prepared, he is one of the smartest guys i ever served with in congress and have great respect. stuart: okay. >> for the preparation he does. stuart: we have good economic news this morning. kind of believe that tennessee is one of the principal beneficiaries of tax reform plan from president trump, you will use that, i take it in your election campaign. >> precisely, i was visiting with a company in knoxville, they increased salaries, they increased hourly wage, they
increased 401(k) benefits and other employee benefits and that is as they say round 1. they're looking forward to tax cuts 2.0 so that they can continue to increase these benefits, they have added workers and this is one to have things that is so significant that companies are growing. they are seeing energy back into the economy, they are at the local level and so this rising tide is helping everybody. stuart: okay. >> because there's more money, more disposable income. stuart: we will check back with you later in the campaign. marsha blackburn. >> absolutely. stuart: where are we going to open this market, wednesday morning, we will be up a little bit, 29 up for the dow. 18 up for the nasdaq and then we have burger king trolling ihop for changing name to ihob,burger
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stuart: you know the story, i hope changes its name to ihob, the b now stands for burgers, burger king poking fun calling itself pancake king. clearly it's a publicity stunt. great free-publicity, what does herman cain say because you used to run godfather pizza. >> i would agree with you, stuart, changing it to ihob makes sense long-term as godfather's burgers. i think they will go to ihob for burgers. it's called focus. i applaud them for free publicity, i don't think it's going to cause people to rush out at lunchtime looking for burger at ihob.
pancake castle. what's about wendy's? liz: remember when you were 7 year's old old and changing your name would be super cool. stuart: all publicity is good publicity and i think this is good publicity, last word to you, herman, keep it short. >> it is good publicity but the success in the restaurant industry is based upon your focus and you can't change it with the publicity stunt. stuart: the food better be good too. >> yes, sir. stuart: you were great today yet again and we will see you real soon. >> thanks, stuart. stuart: yes, sir. up maybe 20 points for the dow. fairly flat to slightly higher. you to pay attention to media stocks this morning. some of them are going to do very, very well. there's the time warner-at&t rule chg i think opens the flood gates to big-money guys to move in to those companies. we shall see? but they will be up at opening bell and we will follow it for
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close i really haven't got a clue. because elbow we've got some kind of announcement from the fed this around 2, 215 if i'm not mistaken. in five seconds the market opens and we'll see bang 9:30 eastern time, and it is a wednesday morning. we're up 7 we're up 9. we're up 11. we're up 14. we're up 19. it's a horse race now up 18 okay so a modest gain from opening bell a fractional gain for the dow. show me the s&p. how did that open this morning? same story, a fractional gain .05% higher. how about the nasdaq? home of the technology stocks. how's it doing this morning? up a bit better. 9 points higher or, up about one tenth of one percent but that is all time high for the nasdaq 7,711. big corporate story a federal judge cleared at&t 85 billion bid for time warner no
conditions take a look at the big media players off and run this wednesday morning and they're all up. they could be takeover targets. we shall see. let's see what they all think about this. liz mcdonald is here refugee from chicago. and ben and car guy standing by to handle the car news of the day of which we have a great deal, and get to you in just a second. all right back to the market overall no, the at&t thyme warren or deal i say this opens the floodgates from money to flow into big media. how far am i right or am i right? >> you are right like justify when the triple crown you are right we are going to go a lot of or players come many to look for a toll make a play for net flix but for disney to make a play possibly. >> but did they pull content last year from netflix so -- with maybe the idea of buying later but netflix might be getting away we from stocks
going crazy. >> are subject to a takeover by the guys with the money. that will be the apple, about the -- facebook and googles of this world. am i right then? >> that's right tech companyies as we know are in cash and looking to put it to work and given to shareholders and they want the content. >> is it a sure thing and wait for bids to appear and bidding up stocks for acquires companies? >> that's a great question because the -- stocks are near record highs they could use their stock to a company. right so is that often fuels merger mania and really who has powerful balance sheet and who has cash on balance sheet or high stock price and look at fox. fox is in play big time and comcast a all cash offer. that could be a bidding war that stock could continue to go up if there's a bidding war. >> not a bid for the entire 21st century fox -- >> certain asset which is we -- st fox were with going to sell to disney to be a bidding war
for those assets and comcast is likely but not for sure making a bid. let's get to cars -- tesla -- they cut 9% of their jobs or they're going to. it is called a difficult but necessary reshuffling. it is carling workers that get the cut not hourly factory workers, gary, our car guy. now if you're coming 9% of your carling work force is that a good sign of about future profitability? >> not just car but talking about tesla battery products as well. 9% that's a lot for a company that's in the middle of developing products and xadgedding retail network. i think really got the message earlier this year that the company needs to turn a profit this year without getting more loans and really foxed on that right now. but it is hard to manage that the deadlines get pushed further. >> if he's concentrating on profit that's why it is up 3:44 is focus on profits investors
like it. that's pretty close to all time high for tesla as we speak. couple of items which i think are positive for the economy. food stamp use is down -- and people are giving more to charity. now todd is with us he recognizes economy is in good shape and firing all on cylinders but you think a debt bomb will explode soon. don't you? >> i think a debt bomb will explode look at the average car payment up to 5.22 a month we keep accumulating yet we are paying more credit card debt. more student loan debt. the food stamps great news a lot of jobs available. but not the right jobs yet we don't have increase in wages. other thing is, the donations are coming from much fewer people to although numbers are bigger it is coming from fewer people so that's a little bit of warning sign doesn't tell me things are greater when less people are making up that $400 billion. >> bothered me with a 3.8
unemployment rate with full employment and you're running deficit close to -- getting towards a trillion dollars a year. that's got to be worrying. >> very worrying and these are issues with the debt. but you can never tell me when we get the crisis and you know going to come. never happens. >> it's going to come. okay. [laughter] >> i tell you what -- within the next 12-b 12 months okay you heard it right here. mark the tape right now -- >> i'll bet use one dollar, one dollar it doesn't -- [applause] [laughter] other markets where are we on the price of oil around $65 a barrel. but gas prices they are now coming down a bit more. $2.09 is your national average for gasoline here's the presidential tweet this morning about oil. quote, oil prices are too high. opec is at it again not good. all right so you're getting a lot of air time this morning and commodity guy.
where is the price are of oil going? >> it is going much lower. i think it is going first to 50s but saying it will go back in the 40s. you know we have an issue here. we saw the artificial pushup before memorial day weekend amazingly biggest of the weekend with high or prices now we go back but oil is in a formation i don't think -- but the front month is more expensive than december. december is 3 cheaper than july oil which tells you there's only fear driving wonings that comes out of market oil will fall back like in july of 2014. >> all right so june what was it 13th he said that as well. >> now turn to the downside on big board we were up what 13, 20 points now down a fraction. i'm going to call this dead flat 25,300. a weaker outlook from h&r block because of the tax reform package which is not going to be good for tax preparers h&r block this morning is down and it was down premarket about 13, 14%. it is taken a big hilt down 18% now a drop of $5 at 24.
all right the big tech names let's have a check of them. that's i think they're all higher this morning in a -- pretty flat market wait a minute do you like niflt big techs? >> we toangt like tech either. todd is on this same page. but no we don't like evaluation and should be use their stock multiples are are at peak user stock to buy things. >> too high too expensive for you and worried about regulation coming for social yeedz and data companies we think regulation is catalyst tay makes people reevaluate with and tech is cyclical if viewers owns any of those tech stocks on the screen -- is your advice sell part of your holding is it? >> i would sell part of the holding and facebook is a better short at this point. >> really? i own a little bit of microsoft are you telling me to sell it? >> we've talked about that one before they're in the enterprise but seeing peak and we're underweight tech. >> so i should sell it? >> microsoft is different
they're getting into cryptocurrency world. they're into everything like a utility. >> listen to -- that man right there. [laughter] no bias there -- i want to get to the car company with lots of stuff beginning on here. driverless cars startup argo a billion dollars from ford motor company and it is luring talent from über and apple all right gary it seems to me that ford is moving away from its core business which had is making vehicles. is it? >> that is selling -- when people start using these driverless cars these rider sharing services companies have to sell them to cars to make. so ford put money into this last year and company is going very quickly and prd ford is now testing in the road and not self-driving but they have self-driving interfaces for deliveries with post -- that they're trying to get a sense of what people think about driving for cars and they're putting them on the street pretty soon. >> you have to tell me about toyota as well because they're doing something similar an planning billion dollar
investment in grab -- that's a ride sharing startup. that's another shift isn't it? this is toyota -- the maker of great cars. and now they're into ride sharing. that's another shift. >> honda informs in that company look general motors up with lyft mercedes up with via again if people are buying cars they need to ride in cars why not get a piece of the action selling cars to companies but also getting access to the revenue being generated by them. not to mention all of the data. >> and toyota is up this morning. 135 on toyota. it's that time folks i'm sorry i have to say good-bye to you todd you made your mark with that debt bomb thank you indeed for joining us even though you don't like no kro soft and gary you can come back any time you like. where are we up 25 points in the first 9.5 minutes worth of business. we're at the 25,346 up 26 points. j.j. abrams arguably the hardest director in hollywood right now.
getting into video games he's starting new game studio and he's partners with a chinese tech company to actually do it with we have to tell you. and the push for a $15 a minimum wage may be backfiring raise aring the minimum wage could actually increase poverty rates. who would have thought? who knew well you and you -- we'll be right back. how do you win at business? stay at laquinta. where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. i think, keep going, and make a difference.
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we shall see about that. but the stock is at all time high and then sears expanding its partnership with amazon to include 118 autocenters nicole this is about selling tires isn't it? >> it is, and it's pretty much looking thus far like a match made in heaven. this was announced as partnership in may. but i have to tell you, for the people who are buying tires on amazon even buying the sears brand more than 90% of the amazon tire buyers are brand new to sears autocenters so sears rushes to push forward. they said it is going faster than expected. they put the sales together in may and they went from 47 centers around the nation to 100, and 18 now you know sears will be a big tod down over 60% maybe this is something that could be great one in four sears are at autocenters. we shall see thank you indeed nicole. now he's an environmentalist he's a liberal. he's a billionaire pane name is
tom and accused of hiring felons in arizona. what's the up -- >> accused ever of hiring five now accused of hiring 27 to con vas signaturings for his -- clean energy push in the state of arizona to have half of its energy from utilities from clean energy sources by 2030. but it is stunning what these -- individuals have been charged with. we were talking second degree murder aggravated assault armed robbery can be kid thatting and forgery that's what the reports are saying that these convicted felon scientist hired by tom steyer to get signatures for the ballot initiative that they're paid canvassers to ask people for their personal information. so another black eye for tom. >> hasn't used his money very well in the past. not had good results to show that i can think of at least. seattle repealing that tax to fund holeless projects. it was a backlash against it from amazon and starbucks and other big employers economist is with us now.
all right peter i have a question about this. if you can't tax business to -- pay for the homeless and build affordable housing. and you -- there's no income tax in washington state, how do you deal with the homeless problem? >> well the question is how many homeless do you have and why? are you encouraging homeless population by creating an environment that keeps them from working? can some of these people be put to work? that's an important question. you know, during the obama years we got used to notion when they have a problem the government provided a program maybe we need to get away from that. >> there are 12,100 homeless people in seattle and that grows constantly. >> if you pay people to be homeless you'll have lots of homeless people. >> fair point there. how about this one with a study that finds a higher minimum wage actually increases poverty in poor neighborhoods. you buying that? >> absolutely. a higher minimum wage encourages more unemployment and unemployment creates poverty.
you know, it is very easy to focus on giving somebody a few more to work. however, that has to come from someplace if you charge more for hamburgers few or people buy them and in turn there are fewer people working selling hamburgers. also with automation it is an enormous threat right now. it is wholly perhaps outside your studio to have a $15 an hour minimum wage. i say that because you know manhattan is so rich you know i think that people on wall street would buy mcdonald's if they cost 17 a piece. >> i know people who do it that by the way. >> but the whole country and unfortunately the people that live in the northeast bubble tend to live if those kinds of places and they're the ones that lead the charge. >> look the trouble is we won't let the market work. we have a fully lloyd economy. there's more jobs available than actual workers to fill them. we just won't let that majority work. >> you go to france they don't let the market work, and lots of unemployed people.
you know here, donald trump is letting the market work lots of employed people. why are liberals so slow to learn? >> wait a minute they get the votes. if you -- i'm on your side i'll give you a living wage vote for me at $15 an hour. who which poor person will see through that argument and understand that it's not in their interests. >> in washington, they are seeing through it. we have a proposition here to have a $15 an hour minimum wage in the restaurants, you know, for waiters and wait trees ares and so forth and to in tipping they're absolutely against it. xair campaigning against it yet activists are here trying to push it through. why, i think there are front for the unions because once that happens, then their wage rate gets set by the government. and so the best way to deal with that is to have a representative deal with that for you. and i think that's what this is. i think it is a plot by the unions. >> okay we leave it at that
peter and welcome you back in the very near future thanks peter got a very modest gain on wall street 19 for the dow that's it. now trump he's taking a lot of heat for saying that u.s. will stop those war games conducted be south korea. his critics say he's giving away too much. you'll see mr. trump's response to that -- next. let's do an ad of a man eating free waffles at comfort inn. they taste like victory because he always gets the lowest price on our rooms, guaranteed, when he books direct at choicehotels.com. or just say badda book, badda boom. book now at choicehotels.com.
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>> the goal this morning right at 1300 an ounce and how about this, gold coins worth well over 100,000 dollars found in an abandoned house in france. they were demolishing the place, discovered the coins in the cellar they were belgium dated from 1870 they have the face of the then reigning killed king of belgium the second on the face at 110,000 bucks worth of gold in the cellular now there's a radical plan and, i mean, radical. the split california into three states. and it has earn ored a spot on the november ballot. why are they trying to do this? >> so this guy silicon valley guy saying better vawr education lower taxes, why if you split into three, those flee regions will focus more sharply on those issues.
however, by the way, we're talking possibly 6 senators from california. you know it would need to blessing of the entire california legislature. they would effectively voting thelses out of office if they approved this issue, and it would need congressional approval and when you think about it the watch this -- if you split electoral college votes between three regions you have republicans elected to office out of california. >> if it ever -- [laughter] if it flies. my suspicious it will not. thank you, liz get become to north korea summit. president trump tweeting this morning -- here we with go. we say they fortune by not doing wall games as long as we're negotiating in good faith with both sides. joining us now is jerry with atlantic counsel do you think this is a good move to abandon these war games at least for now? >> no. i really don't and that's for three reasons. first of all, it's much more
dangerous and much more expensive to our homeland wept our forces forward. number two no exercise means no alliances the the force is if they don't exercise and cannot accomplish the the mission and mission still exist north korea has military forces, nuclear weapons and anything could still happen and number three, north korea does a lot of exercises too. they're very provok aretive and their postures they have thousands of artillery pieces to destroy sowell the capitol of sowment korea why not make this a bilateral mutual thing called confidence building measures? they dot same thing. >> okay. well two counterpoints if i may number one, you know more about this than i do. these are valid but reunstate war games very quickly very easily they used to take place once every six months not that hard to bring them back and number two, the president had to give something to get them to the table and sign that
agreement to get rid of nukes. and what he gave was an end tamp rarely to war games not such a big deal. >> well, it is a big deal something that china has want thed for a very long time. something that north korea is wanted -- for a very long time and the president did give he had a major meeting and gave kim jong-un something that north korea has wanted for a long time meeting with the u.s. president. >> no concession whatsoever? >> no i think doing it as bilateral saying why don't we do this and move forces away further away from sowell and we'll make this a much more stabilizing even as we're dealing with denuclearization discussion as this process moves forward nor negotiation surely. >> it would be great if -- if this was the opening sell, though, if the request that secretary pompeo makes of counterpart is why don't you north korea dot same thing no more exercises move your forces back. >> you don't know that's not going to be --
secretary pompeo's opening gamut you don't know that. >> you don't know as we know from the president statements sometimes they come out one day in one way and sometimes they come out the next day if he doesn't like what he sees so maybe we hope this is the path that we'll be taking. we shall see. beary thank you for joining us sir, appreciate it. thanks. now president trump he makes his pitch for peace to kim jong-un in a way that only president trump could do. he did it with a highly produced hollywood style movie trailer that shows what north korea could look like if they get rid of the nukes and join the world stage. you're going to see that video at least big part of it after this. hi, i'm joan lunden with a place for mom,
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you know your family, we know seni living. used for batteries frome teexpired oil wells. mgx's new - pilot plant aims to produce lithium-carbonate one hundred times faster than from conventional lithium brine. mgx minerals stuart: it is almost 10:00 here on the east coast and we're opening today with the market up just six points.
we're at 25,300. there is a very big deal in the market going on today and it is because of this. at&t and time warner, their deal has been approved. that opens up the possibility of a lot more huge media deals. and it is media stocks that are really moving this morning. take a look at them. 21st century fox is up 7%. nearly 8%. that is an all-time high for that stock. some of 21st century assets may be sold to disney but now we may see other bidders come in for those assets and that's boosting the price of twenty-first century fox. time warner is up. the deal will go through. of the discovery is up. cbs and viacom are up, so down the line. those are very significant gains. health care stocks also up because there could be mergers in that industry as well. express scripts, aetna, cvs, all of them on the upside.
just cigna down a tiny little bit. down a buck right there. jack hough with us to discuss what i'm calling a huge corporate deal in the, in the works i guess you could say. look, i'm saying that that, that judge's ruling opens the floodgates to the money guys, the apples of this world, the facebooks of this world to go into the media business in a big way. where am i going wrong with this? >> i think you're right. there is no conditions on the deal. you have to be very excited about this you showed a bunch of tv properties. if you're a tv small fry you have to be very excited. if you're a lionsgate, studio small fry, any independent operations will get snapped up. the moves in the health care stocks are just as big as the ones in the media stocks. surprising to me. stuart: merger madness, if you can call it. >> i think there will abiding frenzy. i think the price we get, the bids we get between disney and
comcast will surprise people. we're not doing ev, to ebitda, valuing media assets. we're talking about hulu, each with 30% stake which has a big head start in streaming which you need going forward. there are strategic assets and those can go for a much higher price. stuart: can i simplify this? saying that these stocks are going up, the guys with the money, apple, facebook, google, amazon, they want content. these media companies have content. doesn't matter how big they are already. the money guys have easily enough money to buy them out 100%? >> that's right. you have to have content. you have to have a streaming platform. does any has plans to stream the family-friendly stuff to its own brand and put edgier stuff through hulu. comcast has nothing in stream. they talk about streaming for cable subscription not the same thing. they re much need a toehold in streaming.
stuart: could netflix be a target? >> it is getting a little too big to be a target. as far as buying something you have to have money to buy things. apple has all the money in the world so it is possible. stuart: facebook. these big tech companies, their stocks are so strong they can use their stock as currency to buy disney, netflix or anybody they want to buy. >> i think they're well on their way to being bidders for entertainment content. like the hottest thing is live sports. everyone wants live sports. we wait to see which network pays the highest price for football. don't be surprised if we're watching super bowl on amazon, google, facebook, some day, they have tons of cash. liz: world cup came to the u.s. and canada and mexico. yeah. stuart: 2026 world cup comes to the united states along with mexico and canada. streaming by then, presumably that is the way it goes, that is
everything. you have that on the horizon. by the way the world cup starts tomorrow, did you know that jack hough. >> that is soccer, am i right? stuart: that is a low form of wit you know it. [laughter]. get on to another technology company, talk about tesla. okay, they're going to lay off 9% of their workforce. tesla says, this is my opinion here. tesla is not a car company, it is a battery company. that is why tesla stock is up very close to it all-time high. again where am i going wrong, jack? >> it is getting to be a crowded market. everyone is coming out with a battery electric cars. tesla has been a unique story. suddenly gm has a electric car to be excited about. jaguar is doing it. hard to be differentiated. the battery technology is what is exciting here. tesla put a lot of money into that. i think the battery technology will not only reform the auto
business but utility business. our power will not look the same a decade from now, take storage putting in cars, attach it to a public electricity utility, can do all sorts of different things to stop buying peak power, bring costs down. makes renewable energy that much more valuable. i think that will transform the utility system. stuart: tesla was around $280 a share, now it is at 340. what made the difference? the announcement they will build 10 battery factories, call them gigafactories. one will be in shanghai. they announced their battery was cheaper in the amount of electricity it puts out an technology was two years ahead of everybody else. it is a battery company. >> sounds very exciting. how does the story end in the long run? in the long run it become as
piece of commodity hardware. of in the long run, software companies make most money. >> i changed my mind on tesla. stuart: i used to be down on tesla. >> if he can use a lighter graphite battery, costs less to in a car, often flammable, that is a game-changer. stuart: i done a 180 on this. i have not bought the stock but done a 180. >> have you bought a tesla? stuart: no. >> you should buy a couple of them. utilities, batteries should be part of grid. stuart: here is another industry exploding. talking about the gaming industry. "star wars" director, j.j. abrams, well-known guy, he has teamed up with the china tencent team, a gaming division, a gaming studio as i understand it. tencent own as chunk of
"fortnite," which is currently the big electronic game. gamer world news host joins us now. welcome to the show. good to see you, sir. i do not understand your industry. i don't know what on earth you do but i know it's big. so does that mean is a major player in the gaming business? >> oh, china is absolutely a huge player. tencent is that giant holding company, they have their own division tencent games which generated $27 billion revenue back in 2016. so they are a huge player in the united states as you mentioned, they bought up chunks of a lot of different companies. they own both pug and part of fortnight. i don't know that is huge conflict of interest in my book. they're invested in activision, ubisoft, huge game developer. stuart: what you do for a living is what i do for a living. you sit on a set. you are a news commentator on the gaming industry, is that
correct? is that what you do? >> yes. so i am a news commentator for gamer world news and over the past four days, our biggest events, the electronic expo is going on and we provided live coverage of the event. stuart: we're not interested in the games themselves. we're interested in the money. that is how we roll on "varney & company." >> of course. stuart: of course. i understand, is the big new game, the new "assassin's creed," is that accurate? >> yes. so ubisoft gave their presentation a couple days ago and they debuted "assassin's creed" odyssey. it is a huge game. set in ancient greece. it is very exciting for the fans. >> i got it on the screen, looks like it. very realistic, i got to say. but how much money will go into this game, new "assassin's creed," how much? >> into the, into the actual development, oh, boy, many, many millions of dollars. i mean i think how much they
will actually make from this. probably 700 million i would assume. one their marquee properties. stuart: if i would make money out of gaming industry, out of your industry, how would i do it? >> right. if you were talking to j.j. abrams, he created bad robot games, like of their new division now. a lot of times, it seems like there is a bit of a migration from the entertainment industry into the videogame industry and people do it in a lot of different ways. j.j. will make money, because he will involved in actually making videogames, at very least partnering with other game developers. that is where he will get it. in ubisoft's press conference, elijah wood is there and he has his own game development studio. he will debut a game later this year. you can make video games. you can contribute to the industry if you're in entertainment, do voiceover work, motion capture. if you want to invest, a lot of
major players had very impressive press conferences. stuart: thanks for joining us. come trying to be a financial news anchor some time. it is very interesting stuff. see you soon. >> thank you, stuart. stuart: big hour coming up on "varney & company." pro-trump candidates had a strong showing in primaries across the country last night. i would argue the house is very much in play. fox news's martha mack will break it all down with me later this hour. trump has gotten involved in races for south carolina. trump endorsed henry mcmaster for governor. he is in runoff with john warren a business guy. john will make the case on the program. democrats going after the president for the north korean summit. senator chuck schumer calling the agreement vague and unverifiable at best. mercedes schlapp, white house communications visor will
respond. you're watching "varney & company." ♪ a bachelor. and that's how he intended to keep it. then he met the love of his life. who came with a three foot, two inch bonus. for this new stepdad, it's promising to care for his daughter as if she's his own. every way we look out for those we love is an act of mutuality. we can help with the financial ones. learn more or find an advisor at massmutual.com
stuart: now something just a little different. we'll show you some of the tape which president trump made for kim jong-un. showed it to him at the summit. this is how our president appealed to the north koreans. roll tape. >> in the light of hope can burn bright. ♪ what if a people that share a common and rich heritage can find a common future? their story is well-known but what will be their sequel? ♪ destiny pictures presents, a story of opportunity. a new story, a new beginning.
one of peace. two men, two leaders, one destiny. stuart: how about that? remember president trump is tv guy. he lives on the screen. he knows how to appeal to kim jong-un and loves western movies and entertainment. so our president gave him entertainment. showed him how prosperous north korea could be if he denukes. this tape didn't get that much publicity, but shows the president went into the summit well-prepared in a trump kind of way. we're going street to our investor guest, jim rogers, joins us live from singapore. jim, you said you wanted to go and invest in north korea. are you doing it now? >> well, stuart, it is still illegal. i would rather be poor out of jail than rich and in jail. as soon as it is legal i will start making progress. stuart: what are you going to invest in? >> well, i will probably have to
invest in south korean stocks first. i own korean airlines because for instance, there will be a lot more travel when it becomes legal and open. i'm looking for other things. at the moment there is no stock market in north korea. they're working on it, they're working on it but they're not there yet. stuart: you want to get any kind of joint venture, south korea, north korea, you want to get into it because you think there will be profit there? >> stuart, they need everything. they need electricity. they need soap. they need table cloths. if you have any kind of expertise you can make a fortune in north korea. there they are what china was in 1981. stuart: you can't do anything yet, given the summit took place where you are, do you think you will be able to invest fairly soon? >> mr. trump says we are. mr. trump says everything will change very quickly. i hope so. the problem, stuart, of course, the chinese are pouring in, the russians are pouring. in a lot of people are pouring in, while us citizens of the
land of the free are sitting here looking out the window. stuart: okay. last time you were on the show you also said the bear market will be the worst in our lifetime. and you said that it is coming but you didn't tell us when. when is it coming? >> stuart, i told you to watch fox business and you can find out when it is coming. i'm horrible at market timing. i don't know. i would suspect we'll have more bullish run for a while, maybe at the end of this year things will start deteriorating. certainly by next year things will start deteriorating, but i'm the world's worst market-timer. stuart: do you think north korea is better investment in the future than the united states of america? >> stuart, the american stock market is at an all-time high. north korea is one of the poorest, most oppressed countries in the world. i know you know, you learned to buy low and sell high. north korea is low, i assure you. dow jones is high. stuart: okay. jim, thanks for joining us this
morning. we appreciate it. enjoy that life in singapore. we'll see you later. thank you, sir. we got this for you too. seattle is indeed reversing course, repealing the head tax. there was a huge backlash against it from amazon and starbucks and other big employers. can't say i'm surprised. that tax has been repealed. we'll cover it in just a moment.
across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. stuart: we're down slightly for the dow industrials, up significantly on the nasdaq which has hut yet another all-time high. it is on pace for its 100th
record close since election day. that is the nasdaq, now at 7732. verizon is the biggest loser of all dow 30 stocks. it is down nearly a buck. that is nearly 2%. big tech names, mixed bag there. most of them high. sorry, not a mixed bag. they're all higher. facebook 192, close to the all-time high. apple at 192. that is about 11 bucks a way from being a trillion dollar company. alphabet google at 1150. microsoft at 101.50. look at h&r block, they have a weaker outlook because of the tax reform package from president trump. it will simplify tax preparation, not good for tax preparers. that is one-year low for h&r block. city of seattle as you know by now, they scrapped the amazon tax, that would have made amazon
and other big employers in seattle foot the bill for homelessness, affordable housing. jack hough, with us now. that is first time the progressives lost big time that i can remember on the west coast. >> these businesses are very important out there. just seems something weird about going to particular businesses saying we have a society al problem. our local politicians have not been able to fix it. we'll beat you over the head to get money to fix it. we they ought to go to innovative companies. we have issues we don't know how to deal with. you are good dealing with these things. how about giving us. stuart: the trotskyite on the council, i don't want to get that wrong, but they wanted to punish business. they wanted to nail them, hammer them because they hate the capitalists entitys. liz: what do you they think creates jobs? their stubbornness drains them of all common sense. stuart: that is a good line.
liz: i follow this story, jobs stop homelessness, okay? that's it. stuart: high consist of living creates homelessness. liz: true. what creates that? stuart: you can't build affordable housing because it is too expensive because of rules and regulations imposed by the progressives. liz: there you go. stuart: vicious circle. this may be the future site of amazon's second headquarters? they snatched up waterfront property in virginia. they will build new data centers there. some of the concept pictures show area of shopping, lots of green spaces. could it be the second amazon headquarters? nobody knows. >> what part of virginia is this? geographically diversified? check. a lot of smart, potential workers who live in virginia. check. depending what part of the state you need to have affordable housing. you need some affordable housing where you will move because you want workers that can't afford it. liz: near to congress, amazon wants to lobby if they want to
break into sectors like health care, health insurance, rather. liz: better be a low-taxed state. you don't want the executives highly-paid with a high local state tax which is no longer deductible against the federal tax. because you would be move your executives to high-taxed environment. you don't want that. liz: yeah. stuart: we'll see whether that is the location or not. by the way democrats still sharply critical of president trump's deal with the north koreans. minority leader chuck assumer in the senate calling the agreement vague and unverify at best. mercedes schlapp will respond in a moment. at&t won a court's approval to buy time warner. our next guest says actually it is netflix which should watch out. he will make his case in a moment. ♪
liz: hard day's night. ♪ stuart: every day, not weekdays, 10:30 eastern time, we play a little beatles music on the set. we try to guess which beatles song. you know what, you play the opening bar, you know it is "hard day's night." liz: i guessed it off the the opening bar. i didn't know. stuart: mark douglas, with us. are you a beatles fan? >> somewhat. stuart: all right. off the show. dow jones average at this moment up 19 points. the price of oil right now
is at $66 a barrel. president trump tweeted about oil this morning. here it is. oil prices are too high. opec is at it again. not good. by the way there will be an opec meeting next week and the president's weighing in early on that. didn't make a difference to the price. we have got $66 a barrel as we speak. also as we speak we're just getting numbers how much oil we have in storage. what have we got, liz? liz: a lot more down than expected, down 4.14 million barrels. a drawdown. they were looking for 2.7 million. a lot more than expected. stuart: used a lot more oil, less in storage. liz: yes. stuart: theoretically the price goes up a little bit, theoretically. sticking around 60, because opec may pumping more and saudi arabia too. stuart: price of oil is up. that is a reversal because of the drawdown. we're using a lot more oil. the supply in storage is down a little bit, so the price goes up.
30 cents, 66.66 is where we are. check out the big tech names. that is what we do where the money is. all are higher, facebook, amazon, microsoft, alphabet all on the upside. as you know yesterday at&t was allowed by a federal judge, you can go buy time warner, $85 billion. because of that decision media stocks are rallying all across the board. at&t and time warner, they're part of the deal but if you look at the big media stocks, big media companies, they're all up. most of those are potential takeover targets. joining us now is steel house ceo mark douglas, who seems to like combat tv because he keeps coming back to the show. douglas, welcome back. >> how are you doing, stuart? stuart: first of all i want to deal with netflix. >> okay. stuart: a lot of people say netflix could be a target of a buyout from the facebooks or the apples of this world because
they have got the money. >> yeah. stuart: why are you saying that netflix can not be taken over? >> i agree with you that netflix is a very attractive target. in my opinion probably the most powerful company in media. i can tell you why in a minute but they have voting provisions that only the ceo of netflix could really decide to allow the company to be taken over. stuart: wait a second, ceo of netflix, very powerful guy, he controls the vote where that company goes. cotake the money, he could take the money, it would be billions and billions of dollars, he could take it and say, okay, i will let you buy me apple or whom so ever but i stay as the guy in charge of netflix as long as i like. he could say that. >> right. as of this morning netflix is worth $160 billion. stuart: apple has $165 billion in cash. >> in terms of any company taking over netflix, it would have to be an apple. it would have to be an amazon.
it would have to be a another company in the tech industry. i don't think disney, they don't even have market caps to do it, being capable of doing a deal like that. stuart: do you think the apples of this world, the facebooks, the amazons, are they prepared to spend their big cash, mountain of cash, all of them have, are they prepared to spend it to acquire the content what may be their future streaming operations? >> i tell you what makes netflix so powerful, not just the content. they can take, they can target it to 100 million users they have. netflix is the only company that can take any piece of content an find exactly who wants to watch it. everyone else broadcasts and, you know, but creates content, hopes someone watches. netflix knows who will watch it. no other company in media has the capability, where you log in, you are presented with what you want to watch. stuart: that is technical capability. >> al gore riffs no one else in
media has. stuart: that's it? >> that is their core value. that is their differentiator. they have been perfecting it like a decade. liz: you go on netflix, watch a documentary about the queen of england. a whole line of shows that pop up, maybe you would like this. maybe you would like to watch these shows. >> they know you're likely to want to watch that no one else has that capability. that is what makes them so attractive. stuart: can they steer it toward individual consumer? >> it is done individually. done on individual basis. what you see on netflix on home screen is different than what i see and what she sees. liz: that's correct. stuart: can they do different countries? >> yes. it is done worldwide. hbo is the original netflix, right? origal movies, original content plus movies. netflix perfected it, targeted it, took them worldwide. it makes them a very powerful company, a big takeover target if they ever want to do a deal. stuart: that's fascinating.
you like combat tv, mark. you know what you're talking about. amazing well-done. appreciate it sir. >> thank you. stuart: now the democrats, almost in unison criticizing the president's deal with north korea. first off listen to senator charles schumer. roll tape. >> what the united states has gained is vague and unverifiable at best. what north korea has gained however is tangible and lasting. by granting a meeting with chairman kim, president trump has grant ad brutal and repressive dictatorship the international legitimacy it long craved. stuart: let me repeat what the senator said there, calling it whimsical, he, president trump, almost always fails. joining us now is mercedes schlapp, white house senior communications advisor. your response to senator schumer, please. >> well i mean so predictable to where the democrats are going to go when it comes to being critical of the president's very successful summit.
what we have seen is president trump's boldness in pushing forward a clear path in transforming the relationships between the united states and north korea. he didn't even do it alone, stuart. he did it with the help of south koreans and japan's, working with our allies pushing forward what is the beginning of these discussions that we're seeing, these negative shuns we're seeing between these two countries and it is very clear it is because of president trump and his bold leadership and his vision saying look, we'll review our policy with north korea. we're going to make significant changes. we've seen maximum pressure campaign work in north korea. and now we're seeing steps where north korea is working to denuclearization the korean peninsula lakes mercedes it's a process. it will take a long time. secretary pompeo is on his way to seoul, south korea, to get
that process moving from the south korean side as well. is that accurate? >> that is accurate, yes and secretary pompeii is also going to china. these are the discussions that our administration is having with our allies in talking about what we need to do to take the steps forward. you're seeing commitments made by north korea. this is watchful eye. we're being cautiously optimistic but it is so clear this historic summit something like we've never seen in the new era of american diplomacy. we've gone from president obama's weak diplomatic actions to now president trump pushing forward with results in coordination and working with north korea. this came because again there was a successful maximum pressure campaign in place that got north korea to the negotiating table. so we're feeling that there is a sense of strength that has come out of these meetings. there is a clear path of where we want to go in terms of our
relationship with north korea. and this is just the the beginning, stuart. i think that is very clear. we'll keep a close eye to know what the north koreans will be doing and this of course in collaboration with south korea and japan. stuart: her said, coming in to us from "the wall street journal," this is what they're saying, "the wall street journal," the white house will try to block the senate's effort to derail president's deal with china's zte. what do you know about this? >> as you know president trump pushed forward a very strong deal when it came to zte. this included over one billion dollars that company would have to pay in penalties. they would have to basically get rid of their board of directors. and the commerce department could embed, hand-picked individuals into the company. if they were to violate this, would be, in 10 years they would be banned. so there are very strict, very i think strict deal that president trump has pushed forward. obviously we'll be working with
the senate. we'll see what the senate comes up with before any decisions are made. this is obviously a process we're watching very closely. stuart: but the white house, you want the deal with zte to go through, even if the senate doesn't? >> well you've seen where the president's position has been on zte. stuart: yeah. >> very tough deal. we think it is fair. i think at this point we'll have to see what the senate pushes forward. we'll watch that very closely. stuart: part of the diplomacy with china, isn't it? basically president trump saved zte and china like that. one of the moving parts on the chessboard, isn't it? >> the president always talks about he has a very good relationship with president xi. obviously on this deal in particular he put very strict penalties on there for this company. and in essence i think we'll be watching very closely what the senate does. the president's position has been very clear on zte. stuart: before you go, mercedes, can i ask you for a update on larry kudlow? he is a great friend of mine.
i've known him close to 40 years. i hope he is doing well? >> he is, thank god. thank you for your prayers and support. we know we're expecting full recovery for larry kudlow. i want to see him back out here talking to you, stuart. joining us back in the white house. we hope to see him soon. stuart: got it. mercedes, thank you very much. long-awaited report whether the fbi acted improperly on lead up to the election. kim strassel from "the wall street journal" with us tomorrow. that is big story. pro-trump candidates had a strong showing last night. would i argue the house is still in play. fox news's martha maccallum on the house race next. ♪
today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852. re-established 2018. that you don't think about is very much. counties it's really not very important. i was in the stone ages as much as technology wise. and i would say i had nothing. you become a school teacher for one reason, you love kids. and so you don't have the same tools, you don't always believe you have the same... outcomes achievable for yourself. when we got the tablets, it changed everything.
by giving them that technology and then marrying it with a curriculum that's designed to have technology at the heart of it, we are really changing the way that students learn. and i can't wait for ten years from now when i get to talk to them again and see, like, who they are. ♪ liz: welcome back, former presidential candidate herman cain, he was the ceo of godfather's pizza. he talked to stuart about ihop's move to change their name to ihob. he said while it was a good publicity stunt, does not make any sense for them long term. >> i would agree with you, stuart, but changing it to ihob makes about as much sense long term as godfather's burgers. i don't think people would flock
to godfather's for a burger, after for over 30 years we were known for pizza. it is called focus. so i applaud them for the free publicity, but i don't think it will cause people to rush out at lunchtime looking for a burger at ihob. ♪ this endangered species is getting help from some unexpected friends. these zebra and antelope. they're wearing iot sensors, connected to the ibm cloud. when poachers enter the area, the animals run for it. which alerts rangers, who can track their motions and help stop them before any harm is done. it's a smart way to help increase the rhino population. and turn the poachers into the endangered species. ♪ ♪
stuart: i pays to pay attention to those technology stocks because their home, the nasdaq composite, has just hit yet another all-time high. in fact, it is on track to hit its 100th record chose since election day. nasdaq right now 7726. go tech. to the primaries. many pro-trump candidates did well in the primaries last year. look who is here. the "the story"'s martha maccallum is here herself. >> how are you, stuart. stuart: doing well. >> good. stuart: the trump people did very well, but it is too early to say that the republicans hold on to the house, far too early. it is still in play. >> absolutely. if you look across the board, there were some candidates, nevada congressional candidates harry reid backed seemed to be doing well. henry mcmaster, governor of south carolina forced into a runoff. he is very much aligned with
president trump. although president trump supporters did have a very good night in number of ways, kate at this-katie arrington race in south carolina against mark sanford. if you look at generic ballot for the democrats in recent days, i think it is in low single digits. stuart: you go on the air 7:00 at night. politics is your bread and butter. that is what you're all b do you think this thing called the blue wave is not so big of a blue wave as we thought it was a couple months ago? might be more of a blue ripple? >> sure doesn't feel like it. stuart: really? >> it doesn't feel like a big blue wave at this moment. when you look at the generic ballot between republicans and democrats, which is a little bit of a difficult gauge. face it, when it comes down to the election it is not a generic ballot, it is one person against
another. however, what is happening with the economy, what is happening in north korea, you're getting perhaps some of those same voters who were not gop voters who took a look at president trump in the 2016 presidential election, who may be saying, that they can over look some of the twit every stuff and some of the things that maybe pulled them away from the president as they get closer to the midterms. you know, the bread and butter, pocketbook issues are not looking good but will be a tough decision when it comes to the economy november. stuart: i believe we're onhe road to prosperity. has thatp penetrated to the media screen? the media doesn't want to report that the way i report it, prosperity, here we come. the media doesn't say that. has the good message leaked across the media? >> i talk to small business owners, you talk to people in the business world all the time, they're very bottom line oriented folks and many people in this country are involved in
small business. they have seen regulations lifted off their back. they have seen health care improve, to them in many ways and economy picking up. i think it will be tough for people to look away from the issues when they get closer to this whole thing. we will see. i look at mark sanford in south carolina, stuart, who really represents in many ways the old republican establishment. he came in 191994 with the newt gingrich congress, he is not representing for conservative voters in the future. we see that with the katie arrington vote. look at the president's last minute tweets. mark sanford has been up helpful to my campaign to make america great again. he is mia. nothing but trouble. he is better off in argentina. reminding everybody about the affair which was big scandal. i fully endorse katie arrington. everybody told me i shouldn't get involved in the race and i couldn't help it. i like her.
he has influence. stuart: we will never get away from elections without tweets. they are here to stay. >> i think that is true. stuart: martha, we'll watch tonight. >> thanks, stuart, for having me. stuart: coming up over the next hour we'll hear from two candidates hanging their hat on trump's success. one for the governor's seat. one for the senate. john warren from south carolina, corey stuart from virginia. more coming up after this. how do you win at business? stay at laquinta. where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. allow you to take advantage of growth opportunities... with a level of protection in down markets. so you can be less concerned
stuart: to the south carolina governor's race. john warren and governor henry mcmaster will have a runoff race for the republican nomination. now president trump clearly supports governor mcmaster. here is his tweet. henry mcmaster loves the people of south carolina and was with me from the beginning. he is strong on crime and border s great for military and vets. doing a fantastic job as governor. has my full endorsement. a special guy. vote on tuesday join us the man who faces mcmaer in a runoff is john warren. mr. are with -- warren, you're a trump guy, you have uphill
struggle of mr. mcmaster who has endorsement from trump. what are you going to do? >> we're exciting, stuart. you look whose resume' follows donald trump not the 30 year politician myself. i'm a suck shellsful marine and creating jobs and we need someone to run the government and make it more efficient. what donald trump did in d.c. i will do in columbia. stuart: what is the main line at attack when you go up against governor mcmaster? >> governor mcmaster is part of the problem for 30 years. he started running in the early '80s. i'm a businessman. what we need someone to recognize the problems we have in our state. we lost $4 billion in a nuclear power plant debacle. we're 50th in education still. our taxes are way too high. our roads are crumbling and we're still funding planned parenthood and governor mcmaster wants to take credit for all positive things that are happening but those are the negative things happening.
it is time to change the coach. stuart: you're running insurgent campaign basically, that is what you're doing? you're more conservative than governor mcmaster? >> i do not think governor mcmaster is a conservative. he has been part of the problem. before he endorsed president trump he endorsed lindsey graham for president. and he has endorsed very liberal state senators here in south carolina. there is a very strong conservative movement in south carolina. th're tired of the same old guard continuing to cheat the taxpayers. 58% of the people of south carolina last night said we do not want governor mcmaster as our governor. and i'm going to be the new fresh breath of air and bring conservative reforms to columbia. stuart: why do you think president trump endorsed so forcefully governor mcmaster? >> i didn't get into the race until february. so he had already endorsed governor mcmaster. when you look at my resume', it is much similar to donald trump's than that of governor mcmaster's.
stuart: john warren, we wish you the best of luck. it will be an interesting race to say the least of it. we'll be watching. john warren everyone. >> thanks, stuart. stuart: good luck, sir, thank you. it was really an historic moment, president trump shaking hands and making a deal with kim jong-un. the reaction from the left almost entirely scorn and criticism. the president just can't do anything right in the eyes of the left. we'll discuss that. i will editorialize it. i will rant about it after this. ♪ ♪ most people come to la with big dreams. ♪ we came with big appetites. with expedia,
used for batteries from expired oil wells. mgx's new pilot plant aims to produce lithium-carbonate one hundred times faster than from conventional lithium brine. mgx minerals . stuart: it was historic. president trump shook hands with the dictator who had threatened america with nuclear attack, and then he sat down to
sign a deal, whether dictator agreed to give up his nukes. historic indeed, i've got to say. and reaction from the democrats, well, they didn't like it. they didn't think much to it. our president shouldn't be shaking hands with dictators. the left refuses to give the president credit for anything, whether it's economics at home or policy abroad. if trump is involved, it's bad. chuck schumer who leads the democrats in the senate said mr. trump had given legitimacy to a brutal dictator and nothing in return. nancy pelosi did not approve of the meeting or the agreement. she implied mr. trump had given away the store. you get the point. whatever trump does, it's wrong. how quickly we forget. the democrats were all in favor of president obama meeting with the communist dictator of cuba. remember the baseball game attended by obama and raul castro? it was a very friendly meeting. don't forget nancy pelosi was there, too.
there she is in havana, shaking hands with the foreign minister bruno rodriguez. and very little criticism of the disastrous iran nuke deal. cuba and iran, fine, but trump bringing north korea to the table? bad. and let's not forget nancy pelosi's response to the very successful trump growth plan. $1,000 bonuses were crumbs she said, and the historic low unemployment rate is unspeakable. must deny prosperity. it's come to this. five months to the election, and there's an element of desperation among democrats. they can't admit to any trump success, even though it's staring them in the face. who's looking out for america? isn't peace and prosperity good for us all? the third hour of "varney & co." is about to begin.
. stuart: well, you heard my rant, i call it editorial. reaction from list peek, a columnist for foxnews.com. cozying up to cuba and iran, but, oh, you go near kim jong-un and it's terrible. >> superseded the risk from iran, certainly, though they were trying to get to nuclear weapon and certainly from cuba. so there was much more to gain from meeting with kim jong-un than it was to meeting with the castros or with the head of iran. i mean, i think, i really cannot understand the back biting or savaging of president trump on this historic event. it's a extraordinary lapse of common sense that this is something that should not have happened, and after all, six months ago, they were wailing, the democrats were incensed he
was being belligerent to north korea. which he did in order to get to the meeting. i studied all the news reports this morning and spent time thinking about it, what did we give up? legitimacy? how is he legitimate? he's no more legitimate than two days ago, he's been on the world stage for 30 seconds. if he does not follow through, this president is not going to give him the time of day, and we will go back to basic hostilities. which is not in anyone's best interest. stuart: you say you can't understand. >> of course you can. i totally agree with your rant. whatever he does is wrong. and it was kind of a rant. stuart: it's true. whatever he does is wrong. you have a column on foxnews.com, you talk about nancy pelosi. i agree with your use of the word, she's in denial about our return to prosperity. she has to be. you can't give trump credit for anything if you want to be speaker in november. >> they are so intent towards looking to the midterm
elections, and the economy is moving trump's approval ratings higher. what she said in particular which was comical is we have to restore consumer confidence. consumer confidence is at a 17-year high. confidence among business leaders is at a 45-year high. and i do want to point out. not once during president obama's time in office did consumer confidence get to the level where it is now. even with the hope and change, conversation, et cetera, et cetera, and, yes, had a very bad recession. seven years after the recession. seven years of recovery where people in america were still basically not very optimistic. so this president, from the day he was elected, has turned around consumer sentiment in this country. that is huge. by the way, democrats have no answer for that. stuart: the media will never acknowledge our return to prosperity or the strength to the economy. >> no. stuart: but has the message that we are on the road to prosperity penetrated that media screen? i've asked everyone that
question, including the voters. >> the number is something like 66% of the country thinks the economy is doing well. and by the way, the astonishing thing is that is republicans and democrats almost at the same level saying yes, the economy is in good shape, best time to get a job for a very long time and increasingly democrats are crediting president trump with some of that improvement. yes, we have seen progress, they can't deny it but have no answer, stuart, there is no platform. stuart: with five months to the election, do you think that the republicans hang onto the house in november? >> a much better possibility than people think certainly than it was two or three months ago. someone said something very brilliant, president nixon always said the greatest campaign tool was to be an agent for peace. the idea that donald trump may be moving us towards a more peaceful solution in north korea could be the most important thing in his quiver. stuart: who would have thought? >> who would have thought. stuart: see anything like that?
all right. thank you for joining us. >> thank you. stuart: now on this program, we have talked a great deal about that which is on the screen. the retail ice age, a story we've covered for a long, long time. however, our next guest says some parts of the retail business are making a big comeback. jay scott shield is with us, with a real estate organization, if i can put it like that. >> absolutely. stuart: tell me parts -- give me store names that are brick and mortar stores making a big comeback. >> grocery, whole foods is crushing, expanding like crazy. aldi, anything in the grocery category is doing well. retail anchor centers, progress being made in the fitness, in the service industry, you are seeing l.a. fitness, planet fitness expanding like wild into different markets, bringing a different experience to retail than historically. stuart: how about best buy and walmart, they're on the screens, making a comeback?
>> best buy is changing business model in a way that's more service oriented. intel and service is important for folks who don't stay on top of technology. and as far as walmart, pushing into amazon territory, allowing folks to get two-day delivery without any sort of membership and broadening the products they offer, instead of being value based, trying to compete on quality as well. stuart: if you are a bricks and mortar operation, if you can survive, you're going to do well. >> what you're seeing is a big transition. stuart: a lot will not survive. >> many are going to go away, and they should realistically. stuart: real estate analysts say they're giving malls away. is that just the mall business? >> yeah, more the interior mall concept, where folks come, in spend a day crawling the mall, checking out different stores, window shopping, things of that nature. today it's experiencial.
they are time crunch and time sensitive, they are going to accomplish what they are going to get, service they're going to acquire and backing out. it's a little more of a refined experience, if you want to get into the way that folks are experiencing retail today. it's got to be more than just a sale. it's got to be more than just co-location with other tenants. stuart: what else? i don't get it. when i go into a store, i know what i am going to buy. i pick it up, take it out of the store. what's new? >> 80% of retail is focused on female shoppers. they are there for an experience, what's coming up new, what's coming up next, and it's also a social thing. stuart: would it be terribly sexist if i were to say women shop, men buy? >> yes. [ laughter ] >> liz peek, voice of reason, is it sexist if i say men buy, women shop? >> only if it's here in a
camping store, then you stop. >> can we go to auto parts stores and watch people wandering the aisles looking at hubcaps. men do that. men have different interests. >> you have the right locations, cabella's or something like that. men will be in there for weeks, right? [laughter] >> time's up. [ laughter ] >> you know, scott, you're all right. thank you for joining us. >> looking forward to it. stuart: moving on. check the big board, why don't we. up 20 points for the dow industrials. thank you, liz, you may or may not be back. we're up 20 points, 25,341. but, oh, look at the nasdaq, yet another all-time high. that's what happens when you have all technology in your index. that index goes up. a federal judge approved at&t's merger with time warner. our own charlie gasparino suggests and reports that the justice department may appeal that ruling. we shall see. take a look at the other big media companies, though,
seems to me the floodgates of money have been opened. big tech companies with the money may well be opening and writing checks to the media companies because they want to buy content. we shall see about that too. trade very much an issue. larry kudlow even accused justin trudeau of stabbing president trump in the back. coming up, an important desk, a senior member of mr. trudeau's cabinet. giving us the first u.s. interview since the g7 meeting. and the inspector general delivers his report to congress tomorrow whether the fbi acted improperly in the run-up to the 2016 election. kim strassel has been following the story from the beginning and she's on it, next.
. stuart: this is big news and coming to us from secretary of state mike pompeo. he's talking about north korea. he says the goal is to achieve major north korean disarmament within 2 1/2 years. he's put a time frame on it. and he says they are aware, that's north korea, they're aware there will be in-depth verification of that disarmament. pompeo expects he'll have another meeting with the north koreans in the next week or so. that from secretary of state mike pompeo, just into us. now this, inspector general will deliver his report to congress tomorrow on whether the fbi acted improperly in the run-up to the 2016 election. kim strassel with the "wall street journal" editorial board has been on top of this story right from the get-go. covered it more extensive than just about anybody else and she joins us now. what's the main headline that you'll be looking for. the main aspect of the report that you look for tomorrow?
>> well, i think number one thing that everybody is going to be looking for is whether or not this is accompanied by criminal referrals. obviously the inspector general did put out a piece of this already that dealt with andrew mccabe and the claim he lied to fbi investigators and his superiors when he was still in office, and that was accompanied ultimately by a criminal referral. that is the bottom line, stuart, is did any of this behavior -- we know this report is going to be tough. you don't spend 18 months and come up with 500 pages to say everything was fine, but the question is, did any of this behavior cross the line into something illegal? stuart: and looks at the fbi's investigation of hillary's e-mails. that's what one of the major parts of this report, correct? >> well, that is the only part. and that is something everyone needs to remember because i think a lot of folks are gearing up to believe this also is a look at the fbi's handling of the trump and russia collusion investigation.
it is not. this is solely dealing with hillary clinton's e-mail and private server. >> is it possible we will see some involvement before the election of president obama? >> i don't know. that will be very interesting. there's been a lot of cryptic messages that have gone back and forth between the two fbi agents, peter strzok and lisa page that says the white house was involved in various aspects of both of the investigations. we don't know if the inspector general has gone down that path. here's what i think is interesting, stuart. we know from early leaks from the ig is going to look at the way jim comey, for instance, handled his press conference of hillary clinton and that late decision to reopen the investigation into this right before the election that there will be criticism for not following protocols. that's interesting and that's going to make a lot of clinton supporters happy because they were the ones that called for
this look into comey's actions in the first place. i'm going to be interested to know if the ig went down the road into looking how the investigation was handled and whether or not hillary clinton was treated with kid gloves. stuart: are we going to find out more about the tarmac meeting between former president bill clinton and former attorney general loretta lynch, that's part of the report? >> we probably should. this is ultimately what led up to jim comey's decision to completely flout the normal procedures within the department of justice and go outside the chain of command and make this decision all on his own rather than leaving it to career or federal prosecutors or the attorney general. it was that meeting. i don't see how you can do a report like this without running down exactly what happened, what jim comey knew about it and what he believed to have happened. stuart: we've often heard there was a cab -- cabal within the
fbi, will we settle that controversy? >> well, that's going to be the other big question in this report is whether or not it goes into bias at the fbi, and whether or not you see a real contrast in how the inspector general writes about how they treated hillary clinton, this goes back to conduct. no grand jury immunity for witnesses leaving her interview until the last-minute and whether or not that makes a real contrast with how they handle the trump investigation, and if that goes in any way to bias. one worry i have, stuart, is whether or not this is going to be heavily redacted. it is customary for an ig to allow the agency involved in this case, the department of justice, the fbi, a chance to do redact. it is customary to show deference. the problem we have there is d.o.j. and fbi have shown they've been using redactions
just to save themselves embarrassment. stuart: kim, i'm sure you will get the report. you read all 500 pagis and expect to see your story in the "wall street journal" within ten minutes of you finishing reading it. that's a fact. [laughter] >> i'll do my best. stuart: thank you for joining us, we'll see you again soon. thank you, kim, appreciate it. thank you. check out the stock of ford motor company back above $12 a share. has invested a billion dollars in driverless car start-up argo, a-r-g-o, and argo reportedly is poaching talent from uber and apple. ford sticking at $12 a share. tesla, at $345, close to all-time high, cutting 9% of workforce. 4,000, mostly salaried jobs. stock's up. oil. president trump once again blaming opec for the high price. the current price is $66 a barrel. however, the price of gas
continues to edge lower. the national average for regular is now $2.90. down about a penny from this time yesterday. big sports news, came from the president. the u.s. together with mexico and canada just got the world cup. congratulations. a great deal of hard work. the u.s. beat out morocco to beat the tournament here. that will be in 2026 by the way. coming up, an important guest for you. ralph goodale, senior member of mr. trudeau's cabinet in canada. this is the first u.s. interview of a member of trudeau's cabinet since the g7 meeting. we'll talk to him about the feud between president trump and mr. trudeau. six in the morning.
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win. with a few hours left, katie was a good candidate, i have to give it a shot. concrates to katie arrington. sanford may best be remembered for extramarital affair with a woman in argentina several months ago. by the way, emac will have ms. arrington on your show. fbn, 5:00. corey stewart will face democrat senator tim kaine, hillary's running mate. corey stewart coming up on this show in about 20 minutes. by the way, it was maine, nevada, north dakota. they also held primaries yesterday. mr. trump showed pretty well. meantime, a controversial plan to split california into three new states. the ballot measure qualified, it will be on the november 6 ballot. it would create a northern california, a california, and then a southern california.
look, it's not going to happen, but if it did, it would add four new u.s. senators and this part, southern california, would become very likely a swing state. how about that? obamacare could be an issue in the midterm. senate leader chuck schumer says the republicans are to blame for the hikes. and next a senior member of trudeau's cabinet will respond to trudeau and president trump's spat. we'll be back with that. they appear out of nowhere.
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. stuart: not much movement in the stock market this morning. up just 16 points for the dow. at 25,338. now, the u.s. and canada, well, that trade fight continues. days after larry kudlow accused justin trudeau of canada of stabbing president trump in the back. joining us ralph goodale, a senior member of prime minister trudeau's cabinet. welcome to the show, good to
see you, sir? >> good morning. stuart: will you give us the latest, how do you respond to larry kudlow's comments. >> stay calm, stay focused, carry on. build the relationship and make sure we're defending canadian rights and interests, and look, today, a great announcement from fifa about the world cup coming to north america. a combination of canada, the u.s. and mexico, a great triumph for all three countries. stuart: you sound like you are settling things down. it was kind of an ugly fight there, but you want to settle things down and calm the waters, is that what you're doing? >> well, you look at that relationship between canada and the united states, that boundary between us is the longest, most open, most successful unmilitarized boundary in the history of the world. 400,000 people go back and forth across that border every day. 2 $1/2 billion in trade back and forth across that border every day.
and it's roughly in bans in both directions. 35 american states depend upon strayed with canada for economic well being. 9 million american jobs depend on trade with canada. we are the biggest u.s. export market, bigger than japan and china and the united kingdom combined. that relationship is big, it's important, and we will work very hard to make sure that it remains beneficial from the canadian point of view and fair to everybody. stuart: president trump, at one point over the last few days, floated the idea of getting rid of all tariffs. what do you think about that? the obvious question is, well, why not? >> well, we are constantly working to improve the trade flows between our two countries, and quite frankly, the notion of imposing new tariffs on steel and aluminum is entirely counterproductive. we've indicated right from the very beginning that that is
unacceptable from the canadian point of view, because the u.s. has a trade surplus in steel with canada of about $2 billion a year and we are the biggest u.s. market -- biggest market for u.s. steel. stuart: president trump said, look, you guys canada, you impose a 270% tax or tariff, i should say on american dairy products going into canada. would you be prepared to reduce that tariff, lower it, as a goodwill gesture to make some peace with the president? >> well, to start with, that tariff is paid for by canadian consumers, not by americans, but still you look at the agricultural trade between our two countries. stuart: will you make any arrangement here to cut back on that tariff or others like it? is there any give and take at this point? >> look, in the whole negotiation with respect to nafta that's been going on now for many months, canada has
been very proactive in putting forward constructive ideas on the table. we've been very firm in defending canadian interests but we've wanted a deal right from the very beginning and we said this, the moment president trump raised the issue of a relook at nafta, that we were prepared to have that relook and to try to revise an agreement that's 20 or 25 years old, to bring it up to date, and make sure it's a win-win-win for all three countries and i know vice president pence made that comment, too. a win for all three parties. >> what president trump wants is more trade, less tariffs, more trade. that is his end point, that's where he's going. you prepared to cut back on tariffs that canada currently imposes. is there any give there at all from canada? >> as i said, we have made constructive proposals about how to improve the trade flows
between both countries, and yes, we want more trade throughout north america that is beneficial to all three countries and put those proposals on the table. the negotiators are working away at them. our prime minister said not long ago that he saw the makings of a really good deal coming together around that table, the negotiators will hammer out the details, but we've made it very clear that we want an agreement that works well for all three countries and increases trade throughout north america. it's a huge relationship already. it's one that's been mutually beneficial in agriculture, and many other fields, to deal with dairy, for a second. the u.s. has a trade surplus with canada of $333 million a year. in fact, over the last ten years during the course of nafta, u.s. farm goods coming to canada have increased by 46%. it's an arrangement that is
working. we can make it better. stuart: can i end it like this, talks are ongoing, negotiations continue. as of right now they continue. the spat is to some degree behind us, and you would actively consider dropping, lowering some tariffs which canada charges on american exports to canada. i can leave it at that? >> to make sure that the deal works well for both countries, but understand this, we will defend canadian interests and promote canadian jobs, but we expect a deal that works well throughout north america for all the partners. stuart: got it. >> and it's in everybody's interest to succeed on this. i can finish with just one comment, though? the meeting on monday in singapore with respect to north korea. that holds important potential for the peace and security of the world, and indeed president trump should be congratulated for taking that step. stuart: sounds like an olive
branch, minister? >> well, we want to have a constructive relationship and we consider the facts and move on hard evidence and good ideas. stuart: okay, we got it. ralph goodale. sir, thank you for joining us this morning. >> my pleasure, thank you very much. stuart: thank you very much, indeed. susan lee joins us now, talked extensive with prime minister trudeau and you know a lot about the story. your reaction to what you heard from mr. goodale. >> canadians are cordial, polite and will hammer out a deal. there is exacerbation on both sides when i spoke to trudeau and exasperation with the president as well. we were heading into the midterm elections, he likes to make promises, he likes to keep promises, of course, to solidify his base, and in canada, by the way, if we don't get a nafta deal signed, they're saying the scapegoat is
trump and the u.s. at this point. stuart: i figured. okay, susan, thank you very much indeed. now, and by the way, virginia trump supporter corey stewart won the gop senate primary. he'll face democrat senator tim kaine, hillary's running mate. he faces off in november. and corey stewart is on the show, and he's next. ♪ with expedia you could book a flight, hotel, car and activity all in one place. ♪ this is not just a yard. it's where memories are made. and you have the best seat in the house. the john deere x350 select series
. >> i'm nicole petallides with your fox business brief. ford dealing with tough headlines today. a safety recall and getting a worse rating in a crash test. we'll begin with the stock, down half of 1%. the safety recalls, two of them, for the 2018 models. the first with the fuel pump of the f-150, the expedition and navigator. they also extended a recall on the ford edge fusion and lincoln mkv. ford explorer the worst ratings in a crash test. 8 suv's tested by the insurance institute for highway safety. concerns about the passenger in the particular in the crash, those got the worst ratings.
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that. she joins us now. no concessions in the immediate future. offer olive branches but no concessions, what say you to that? >> i trust the great negotiator, president donald trump. he has the ability to leverage the relationship in a way that is positive for workers. that was a really interesting interview. first answer i have to put canadians first, guess what? we have to put americans first. when you asked the question about taking off all tariffs here, didn't answer that. >> president trump never backs down. i can't remember the man backing down when he establishes the position. maybe he will quietly to get a deal in the future. i think he goes right back at them. >> absolutely. look at the rapidity with which north korea changed. it was a few months, everyone said there was never a deal there. look where we are now. this could rapidly change when you have aggressive negotiators like larry kudlow and president
trump behind the scenes. stuart: one little word, it will really change, you got it. now obamacare could be an issue in the november elections. senator schumer, leader of the senate democrats said and i'm quoting now, we democrats are going to be relentless in making sure the american people exactly understand who's to blame for the race. they're going to put the higher premium rates on your back. how are you going to challenge that? >> difficult argument to make senator schumer when we saw for six years under obama premiums go up day by day, year by year, 22% in 2016. that was not donald trump. that was president obama. premiums were already on the rise, and the special elections we won in 2017, in all of the states we made the case, premiums are up 100% or more because of obama. and it worked, they won the races. stuart: they will say you, wicked republicans, are going to take away the medicaid subsidies part of obamacare and people will be left high and
dry. they'll say that to and you demagogue you, your response is? >> they will be wrong. president trump was one republican who said i want to take care of folks with preexisting conditions, want people to have health care, it needs to be affordable. we need a better deal. he was a republican candidate and made that vow, we saw that every step of the way. >> i think in the primaries yesterday president trump showed well and those he supported showed very well. you're not going to dispute that, are you, from the rnc? >> no doubt about it. every time he endorses, he pulls it out. people love this president. especially the republican voters. stuart: we love to see you in new york, too. kayleigh mcenany, thank you. >> thank you. stuart: pretty good night for pro-trump candidates. in the virginia senate race, corey stewart, the gentleman on the screen right there, beat his republican rivals and he will now face the incumbent senator tim kaine. senator cain was the running mate of hillary clinton. there he is.
corey is on with us now. sir, you are getting criticism for past support of confederate symbols and monuments, your response to that? >> i still support them. i don't think it's right to take down any historical monuments because once those are down, they're coming after madison and washington and jefferson. it's the wrong thing to do. and the only reason the left is taking down monuments is because they're not interested and the fact is that the president of the united states is doing such a great job of reviving the economy, of making the country a better place, and so what the democrats do is drop the race card and try to tear down monuments. it's insanity. stuart: what's your main line of attack against senator tim kaine? >> the fact is that tim kaine has done nothing for virginia over six years does. not support the president. he's trying to undermine the president at every single chance by tearing them down. he doesn't support the president's successful efforts to bring peace to the korean
peninsula for the first time since 1950. he doe't support the president' tax cut. tim kaine wants to roll back the tax cut. so that's the thing, that tim kaine is bad and hasn't done anything, he's trying to undermine the president's efforts to making the economy come back in the country. stuart: he was the running mate for hillary clinton in the november elections of 2016. are you going to use that? >> yeah. he didn't even do a good job at that, i might add. tim kaine is an absolute walking disaster for the commonwealth of virginia. he's done nothing. won't support the president's efforts to rebuild our military. won't support the president's efforts at building a 355-ship navy. most of the jobs in the shipyards in virginia and definitely making effort of the fact that tim kaine has been a do-nothing u.s. senator. stuart: okay, you're the man going up against senator kaine
in november. appreciate it, sir? >> absolutely. stuart: repeal the controversial head tax after intense backlash from amazon and starbucks and other big employers. money for the tax was supposed to be used for homeless services and affordable housing. they've repealed the tax. sears expanding auto partnership with amazon. customers who purchase tires can go to sears auto centers to have them installed. service is available in 118 locations. expected to go nationwide later this year. sears up 7% on that. the minerals used to make things like cell phones, solar panels, batteries, are called rare earth minerals. up next, the ceo of a company that buys and refines the minerals, advising the trump administration on science and technology. he says the president needs to push north korea on this one, too. he's next. man: i got scar tissue there.
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michael silver is with us, the ceo of american elements. michael, let's get this straight here. north korea is involved in the black market for what you call radioactive metals. >> correct. stuart: which are used in weapons development, that kind of thing? >> used in weapons. >> you're saying if president trump says to kim jong-un, hey, we want to know who you're trading with, you could shut down that global market. >> yes, which we want them to do. without impacting themselves to use nuclear weapons it. allows for early stage, good faith gesture that improves our posture in the world without the ability to actually defend themselves. that's the first step. stuart: first step, a concession from them which we could demand, it would help us and wouldn't hurt that much. >> exactly. stuart: are you talking about uranium? >> a lot of people don't realize, they have a very active uranium mine, they can mine the minerals, the only
reason they operate the mine is to ship materials to iran or pakistan. stuart: have they been doing that? >> of course, actually the materials that libya had before we closed them down were materials that north korea shipped to pakistan to a.q. khan and a.q. khan shipped to libya. they are north korean materials. >> what you support information who the trade is? >> exactly. a series of breakaway provinces such as transnestor. abkazia, the havens for the guys trading materials. a trader based in transennestor. north korea is trying to find all of this. stuart: how do you know all of this? >> we deal for materials that are used for high technology. all the metals on the periodic
table used from high technology, defense systems to green technology and so we get calls. people will call us up and say i've got 50 kilograms of x, are you interested? here's one of those guys from that region. of course, of course. stuart: this happens, you get calls like that? >> we get calls from people who know people who know people and don't pursue them. idea is for north korea is to say we know who the players are, we know the banks, logistics, everything, here it is. doesn't impact them at all. but look how wonderful that would be for the united states. stuart: i take it the cia or the nsa know this already? >> they're looking for the guy. he's one example. another breakaway sample of abkazia, wide on for the materials. >> has the state department or the white house or anybody in the government called you? >> we have contact. the white house, i've had a communication with the white house over the years on
advanced materials and things that need to be done. and we've notified them these are great measures that doesn't impact north korea up front but allows them to improve our position. stuart: this summit really set up an opportunity for the you -- not you, but for the information to get out there to close down that chain, a very dangerous trade. >> exactly. it's time for the united states to pursue that right now because this is that good faith confidence-building moment when they can show us they're part of the modern international world. stuart: you are michael silver. >> yes, sir. stuart: the ceo of american elements. >> american elements, sir. >> publicly traded company? >> privately held. stuart: ah, no wonder. come on back, we want to hear more about it. >> thank you, enjoyed it. stuart: i promise there is more "varney" after this.
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stuart: interesting interview on this program a few minutes ago. we talked with ralph gooddale, member of mr. trudeau's cabinet in canada. it was the first interview given by a cabinet member since this trade fight developed between president trump and prime minister trudeau. the gist of the interview was they're trying to pour oil, to calm the waters. that is what the canadian member of the cabinet would like to do, calm down, keep talking, let's see how we can get more trade between two countries. liz: i think he is absolutely right. peter navarro apologizing for that out of line comment he made will help to calm the waters we hope. this is on going process. cooler heads will prevail. we, both sides of this fight have to not make it a war. you know, if they say it is not a trade war why throw insults
around that is being done? stick with the facts. let the facts prevail. stuart: what is president trump's next step in what does he now stay about the fight of two or three days ago. liz: right. stuart: what does he say? does h push b or placate? interesting. liz: markets not reactin stuart: time's up. neil, it's yours. neil: we to the a tweet on from the president on this, he called the leader a poopie head farther face. i'm kidding. the whole thing, stop it you are leaders of western powers, act like it. that is my quick take on things. stuart: all yours, son. neil: thank you very much, pops. we are focusing on those developments here. back to stuart's point all this getting a little crazy, special place in hell? sending relations to god knows where? stop it, all right! i don't care whether you like the president, dislike the president, or like the