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tv   Varney Company  FOX Business  June 18, 2018 9:00am-11:59am EDT

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you jason. >> comey is in a lot of trouble and will the fbi cough up document by congress? >> as they should. absolutely thank you so much. jason morgan, and mitch, varney go. >> oaks. dagen and good morning to you. [laughter] good morning everyone. it is monday, politics and money front and center. talk about an emotional debate, family separation at the border. that is the political issue of the day. the media is all a over the humanitarian side of youngsters, separated from their parents when they're detained at the border an trying to cross illegally rightfully so the democrats on the issue, but today nancy pelosi goes to the border herself. and another democrats are visiting the shelters where children have been housed. now president trump he meets key senators later today he wants to know what he can expect from the immigration bills that gop is proposing. it is worth noting that angela
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merkel could be out as germany chancellor within gover er her decision three years ago to open europe's doors to millions of migrants open rders a big problem. money -- stocks will be down of the open this monday morning, the dow up maybe 200 points. the s&p down, nasdaq also lower, the big negative again this morning is trade, yes it is tit for dat with china. and then there's this. can you believe mexico beats germany this the world cup in the celebrations so raucous all that jumping up and down -- e yeah are. reportedly it causes a minor earth tremor. can you believe that? ladies and gentlemen -- here's another tremor -- "varney & company" is about to begin. ♪
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>>s it was a huge weekend for world cup sock or start with argentina versus iceland it ended in a tie. who would have thought? next gain mexico wait for it mexico beats germany. whdhought? that's a scker. of course as we showed you the fans go wild in mexico. and then there was brazil against switzerland yes, another time we're going to see -- got the goal look at that. now ladies and gentlemen, you can tell excited here by what was going around. first surround but i always love those picture trs the home country where is where you've got all in unison it is a real shame that u.s. is not there but there are a lot of people many this country talking about it and watching. >> it was a hiewlg deal this weekend many america. yes. >> i wonder should the nfl be worried? here they've got problems with tv rate arings and they skyrocketed for soccer at the
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world cup. >> joy right there. mexico city by the way -- happiness. watch out liz you're on david brown -- world cup dominated and did get it back to back and maybe we'll get to that later. all right let's get to your money i know that's what you're watching for. we have stock futures and dow futures down about 200 points as we said earlier. this still worries and concerns about a trade war with china. we will be down at the opening bell. immigration, big issue today, democrats toured an immigration facility in new jersey. that was sunday. and the calling on the president to end the practice of separating children from their families. here's texas democrat sheila jackson lee, roll tape. >> there is absolutely no policy. his representation is a patent untrue and out of politeness i'm not using the stronger word. but he is not telling the truth.
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as for president trump, he's been tweeting about this -- why don't the democrats give us the vote to fix the world's worst immigration laws? where is the outcry for the killings and krill being caused by gangs and thugs including ms-13 coming into our cntry illegally. fox news contradict tore james freeman is wall street journal editorial with us this morning. my opinion, the democrats are, win on this issue of separation of family what is say you? >> i think both parties unfortunately are not willing to go with the obviousio to give president trump the law he's been seeking you give people law and order at the border and you allow more people who toangt mean us any harm to come in to work and people brought here to stay. there's kind of an obvious fix here, and i think it has been frustrating for a lot of people watching. i happen to think -- a lot of these people ought to come in. but i understand it's a
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reasonablings to say -- you've got to come in legally and this is a decades old policy saying you cannot -- arrest children at the border so -- so you either have to let them go. or you have to arrest their parents and bring the children somewhere else. so this -- this can be solved but there's a unfortunately i think on both sides a desire to maintain the issue. >> but alan on fox this morning he said you can fix this separation of family issues vy clearly. very easily. they come acrossed border and you immediately put them back. >>s yeah. you don't take them into detention or arrest or do anything. put them back. >> couple of months ago saying you will be criminally prosecuted with a new zero tolerance policy so instead you know you're right. refer to the old policy but to james point this is not a problem in the making at the border by democrats and republicans for years. and now, it's time there's common sense solutions to picking it.
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>> what happens if there's a rush to the border like you've got that rush millions of my grapts in europe and in europe merkel let them in and now in trouble. get the same thing here and march to border and demands to let them in or keep them out force for the crisis. >> if they ask for asylum so current law says you have to bring them in so it's not like you can just -- >> you have to have a hearing. but you don't have to separate children and family. >> and -- ey come in, and lawful entry but otherwise it is illegal a breaking the law so you impose the law. what a situation. i think that's a short-term fix is in order but the long-term solution is the wall with and new immigration system. that's long-term. let's move on. i was shocked to hear this. in germany, the arrest of the ceo of audi unit of volkswagen all about the mission --
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diesel that is plang volkswagen they installed these cheap devices so that -- when they are tested these vehicles they pass a test when they get out on the roord they retire back to their operation which was 40 times the emissio that were speppable. this guy rue forget has been had arrested by authorities in munich over weekend he's the ceo of audi as you say had is owned by volings waggen prosecutors say they're worried that he might, quote, try to suppress evidence. so not only is this volkswagen but high i could end vehicle. >> arrested. something else. all right let's get to the economy. and you're not going to see much about this in the media but second quarter growth i o track to hit a% pace fastst growth rate of four years. former reagan economist art is with us. art let's be clear. in my opinion 4% growth to me means prosperity.
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what say you? >> i agree with you totally i had a debate the other day in new york with jason and his view was that we can only have 2% growth for as far as the eye can see. my view is with a new policy with the tax cuts, deregulation all of that as we've talked about numerous times stuart is that we can have much high per growth than that. three plus percent growth if you get that for a decade stewart you'll solve all sorts of problems but you miss the the most important news item of the weekend. >> the president's press conference for a shouted you out -- [laughter] that was the greatest it was amazing. yipght miss it. >> you didn't mention it in opening here all of the major event this is weekend that matched the golf match. [laughter] i republican loved it. what ahis trade thing with china we have a tit for tat situation. people are inclined to dismiss just negotiation --
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but maybe -- what is the odds here that it really could hurt our economy, the best thing that i heard on this was when president trump left the g7 meeting, he said i've got a deal for all of you all of you reduce your tariff to zero and i will to zero get rid andlet go at it with a free market and free trades everywhere and other 6 laughed at him effectively. you know, trump i believements to have free trade. i don't like the way that the game is being played with threatening and all of that sort of stuff it's not my style but if it works it really will be amazing. and i'm just hoping does work but afraid of a trade war. >> somebody has to work -- some point somebody has to go back to negotiating table make a concession make deal. that's not in the cards at this point. >> the truth is that president trump isompletely correct when he says their tariff fair and protection are far higher far or
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more our tariffs and protection barriers against foreign imports we have single most free trade in the world except for hong kong and something but we are free trade trying to get them toes reduce their bareier an they're not doping it this is a miracle this is the trudeauype icy it is tt policies issue and i don't know why they don't just drop their tariff barrrs and i wish they would. >> yes i'm with you on that one art thanks so much for join us sir. >> congratulations again the shoutout it was really quite amazing i was -- awe struck. >> thank you for bringing that. [laughter] thank you for bringing that up again it is beginning to run fover on this program. art thank you sir, see you again soon. look at a physical teaming up with oprah. i think this is a content deal. >> major fight for multiyear contract with oprah and apple. not the term is not been disclosed but oprah is a cultural power house behind
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selma, the incredible life and more or less of henry and color purple. you know, look at this a l has a one billion war chest for content and netflix has 8 billion and 140 billion. so this is now -- apple l has been bachelor's degree eight ball and now stepping up and major film director, so this is how you get eyeballs this is how you get customers netflix is doi it apple is now doing it. >> oprah is a marquee name but thing to this morning is down and overall markets down. look at this overall market opening up in 19 minutes time and we're going to be down about 200 points for the dow as we said, the trade fight with china is the negative this morning. then we have elibeth holmes woman who started now disgraced blood testing company -- she's been indicted on fraud charmings of get customers out of hundreds of millions of dollars. is she looking at jail time?
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judge napolitano coming up on that later this hour. more bad press for tesla look at that model s bursting into flames on a street in los angeles. okay no injuries. and tesla is calling it, quote, an extraordinarily unusual occurrence. a different immigration story across the ponged germany's merkel may be out this week because of the way she is handled the migrant crisis. more varney after this. what might seem like a small cough to you... can be a big bad problem that you could spread to family members, including your grandchildren babies too young to be vaccinated against whooping cough are the most at risk for severe illness. but you can help prevent this. talk to your doctor today about getting vaccinated against whooping cough. because dangers don't just exist in fairytales.
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google investing about 500 million dollar that's a half billion in chinese e-commerce company google is not in china, this is kind of a back door way of getting in. google down, jd.com is up 5%. renter center they are retailer, the close to a two-year high. after being taken, the plan is to take them private 15 a share. the deal is worth 1.3 billion. could close bit ended of year
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and stock moves up towards that $15 level. to germany, angela merkel facing real opposition within her coalition government all about immigration. president trump just tweeted this -- quote, people of germany are turning against their leadership is migration is rocking already ten berlin coalition in allowing millions of people in who have so strongly vinylly changed their culture. christian whiten is here former senior advisor and bush 43. look i'm saying that she's in trouble. she could be out this week and is because of immigration what say you? >> i think they may patch things up within the establishment coalition and center ride and scu face election so this minister from that smaller party wants to seem tough because all of these guys will get swept away at some point or another. big change like we saw in
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austria and a italy anti-establishrment parties so we have a political class that isn't doi what the people want had is to stop uncontrolled immigration. >> again she may or may not be out this week. i got that. and trouble within her own coalition but the root of the proproblem is open border policy and they're in full revolt against it and it cannot stand over the long-term europe has to do something about this. >> and when trump was candidate president trump said merkel is woman who ruined europe creating mag fete for more illegal immigrants mostly muslims in the case of europe by admitting one millioneople all of her interior minister wants to do is say if you have applied refugee status you can't in germany that's cause the freak yacht. >> is there a message here or meage forri? >> i think the political class needs to listen to the people earp we are after donald trump got elected people want
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immigration, but thet it to be controlled they don't want uncontrolled immigration in europe they don't want uncontrolled muslim immigration led to violence even in germany you may recall the rape jihad and mass violence couple of years ago and political class is seen to wiggle out of what they want which is security. j but ceased on humanitarian side of the separation of families i can understand that. that's entirely legitimate concern but it is not the big debate which we should be having are which is -- how do you control the border? that's the story, isn't is it? >> you to separate emotion from this and reason why so many children are being separated from parents or around the world is our political class is continued to roll out the welcome mat into defiance of what people want which iso basically you know keep nations they have. >> christian thanks so much for joining us sir subject we appreciate it. >> thank you stuart. check that market to open an monday morning about 11 and a half minutes time we'll with
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down 200 for the dow. 19 for the gop there and tech stocks down sharply as we. anti-trump areomedian kathy griffin at it again this time she's going after the first lady. with a profanity filled tweet about immigration. we'll show you the gist of it without getting too disgusting after this. ing man: i got scar tissue there. same thing with any dent or dings on this truck. they all got a story about what happened to 'em. man 2: it was raining, there was onlyne way out. i could feel the barb wire was just digging into the paint.
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>> well, well look at disney there's an outfits called pivotal research and they say sell that thing. because of the fight with comcast over fox assets. a company thinks is now in an unwinnable situation. they don't like it. and right now it is down $2 despite the success of the latest animated movie. to japan a strong earthquake hit the city of oska what do we got? >> 8 a.m. this morning local time in japan this is about 300 miles west of tokyo. we have 3 deaths unfortunately including a little girl die in a wall chanced on her. there were no tsunami warnings issued in this. no nearby nuclear power plants were damaged at all. but i didn't real this that we know japan is is earthquake prone area but of the 6.0
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earthquakes and up 0% of them happen in japan so there's a question one in five chance it is in japan. >> got the it thank you very much. total different subject comedian took a shot of the first lady about immigration. here is the tweet -- startst guess for yourselves you melanie smelled name wrong. you know damn well your husband can end this immediately you complicit, et cetera, et cetera disgusting but james freeman i think this rebowngdz rebounds against her. >> leak a lot of comediennes in her age speaking to a -- narrow ideological segment of the audience. i think it should be noted the first lady is not only urging a solution to this but she's -- popular. the president tends to be controversial. his ratings have been coming up but always, always in trouble on the approval ratings.
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but sorry, melania tends to be very popular so i think it is a wrong target and also it is kind of of a piece with people who are in the political world with these holocaust comparisons which are just over the top way off target and it is -- again people not trying to solve the problem. but use the problem. i think it's -- we bounce against the left -- people surely can plot be complicit in this insult this disgusting insult from first lady. tedious and on knox, and kathy griffin made a comment about the first lady said, mrs. trump hates to see children separated from their families it feels inhumane and cruel to do that but in comes kathy griffin with this needless boring tedious tweet that is not effective as she wants to make her point. >> no. well we'll make the point that rebounds against her. that will be my opinion but i'm pretty sure i'm right. all right the market opens up in four and a half minutes and we will be down 200 points again trade is the problem there. price of oil is down this
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morning. stocks are down this morning -- interest rates holding pretty steady. price of gold i think is not much changed. that's the back drop, trade is the issue -- opening the market in four minute and we'll take you there. at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. where we're changing withs?. 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. a few problems actually. we've got aging roadways, aging power grids, ...aging everything. we also have the age-old problem of bias in the workplace. really... never heard of it.
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>> well, we've got 15 succeeds to go.
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we will open this market on the monday morning elizabeth here is cheering down on either -- [inaudible conversations] >> it is exciting opening. i'm having -- pepto-bismol and testimonies. it is up against north korea but it is open. we're up, we're running ignore on your screen because that's no, don't that is what's happening yes dow is down 200 points yes it is. down 191 that's about three quarters of one percent. so we're up, running we're down. how about the s&p 500 -- is that down to same amount no not quite as much down two-thirds of one percent. look at the nasdaq please. same story, down two-thirds of within percent so the losses are concentrated in those dow 30 stocks couple of individual items here. apple teaming up with oprah on a content deal the stock, though, is down.
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google investigating about half a billion dollars in a chinese e-commerce company. jd.com that is up. google, though, is down. rbc capital market says amazon prime service may have peeked in america they say it could prompt amazon to its off amazon barely holding at 1700 a share. first thing monday morning. all right look at this from a wall street journal -- we've got a street journal guy here to have to justify this. the bull market next test slower earnings groat. well james freeman is with us along with elizabeth macdonald. [laughter] how's the tums going there? look at this guy he's winning this morning. mr. paine. good morning. good morning good to see ya. all right, first of all justify that headline you say that the bull market is going to be challenged by slower earnings
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growth. go. >> i think the people on news side of our paper are raising the right questions here. we've had this run and really an amazing first qrter. 25% corporate earnings growth. fantastic. and the question is -- how good does it have to be going to justify these prices but stocks are cheaper than they were at the start of the year. relative to earnings because companies keep getting more profitable. now looking forward, i for a rough time if earnings actually start shrinking but that's not the expectation. the expectation is slower growth but if you're talking about about -- 10% a year next year earnings growth that's very solid. maybe it's even higher maybe it's a little lower but i think so far the story is -- earnings are still growing. >> my interpretation of your comments james freeing man is that you're on the editorial side of the paper. you don't agree with the new side of the paper.
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but water on it. i commend that story to people because it lays out what the options are and i get my -- depend on your point of view -- i look at earnings still growing they don't have to be 25% to have a good market so history -- >> charles payne is frowning what do you got charles? >> they don't have to have 25% to justify a high or market and earnings going down and slower so i worry about people misinterpreting these kind of articles particularly headlines. which have kept and spooked a lot of people out of the rally for a long time. >> articulate opening same there charles. very good. [laughter] >> i have to practice -- and talking about -- [laughter] all right -- to the economy. at the very end now of the second quarter and it looks like we're on track for an annualized 4% growth this quarter. that was a best in about four years. charles, are you buying that? i mean, 4% growth -- >> absolutely.
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i mean they led a fed and they have a so-so but they have 4.8%. so right now 4.8% after the business, the the michigan number on friday. everything is firing. we have a manufacturing number from the new york fed that was the best in eight months eve with the best retail number this year and by the way, that number yesterday from friday rather from michigan sentiment again forget about headlines if a moment but most important po thing in there all time record for amount of people that roongtly wages are going up in all time record of response to that question. >> people are spending brick-and-mortar stores up that is up. >> but you don't see it on the front page of "the new york times" or on abc, cnn -- doesn't fit the narrative and good for trump so you don't report it but we have a rip roaring economy. booming. 4%. let's get to amazon several stories here. obviously capital market says amazon prime subscription
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service may apete. >> you look at the story about how they're getting bigger into advertising maybe as much as $10 billion this year in advertising, and question are talking about people concerned about how companies use their data amazon has all of the data they have all of your purchases maybe -- maybe customers are a little more comfortable knowing it's being used in house they're already sharing all of it and -- apple ask overseas and english prime subscribers is one of those indications that is spending money to boost overseas. >> just entirely separately going off parking lot -- off the the board here for a second watch twitcher they do the video games -- twitch not twitcher -- but twitch. unit of amazon -- stop laughing at me. i don't use it but twitter and twitch. it is twitcher. these are the video game people twitch part of a.m. spanning
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like you wouldn't believe youngsters at a party i went to saturday night bengt my ear about video games how many people play. how much money is involved, you know more about this than i do charles had it is hug>> absoluty the way also some providers are going to get involved all for the content and whole thing for fox's entertainment assets wait until they go after electronic arts in activism those stocks are going to go significantly higher. fnght got it look at the big board this is almost a low of the day for our radio listeners we're down 158 points that's just over 1%. the tip for tat trades problem with china -- that's the problem for the market this morning. very little change in the price of oil we're at 65 dollars barrel and opec will raise production. 65 bucks barrel, though, on oil. price of gas keeps falling -- 289 is now your national average. the ceo of audi has been arrested in germany.
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this is all part of the diesel emissions scandal they arrested the ceo. renter center that's a furniture retailer being taken private for 15 dollars share. that's why the stock is up 22% as it approaches 15 dollars per share. disney stock got a downgrade -- he got a big weekend at the box office with the incredibles sequel. it sold a record of 180 million worth of tickets but disney issued a health warning about the film. a scene that features bright light and flashing lightings could trigger seizures in people with epilepsy migraine or chronic ulness but that down grade is down 2 at disney 106 a physicaleaming up with oprah on a content deal tell me more, liz. >> multiyear are original contents deal. so you know, apple is all -- for too long been jerry seinfeld when it came to tv content and basically nothing whatted and nothing is going on. apple needs to break through. they are taking on netflix they
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have a billion dollar fund. remember gigantic cash mile and a is now one billion. but look at the marquee names besides oprah reese's witherspoon sixth sense and steven spielberg in house, and netflix has -- a president obama shanda and so forth so this is a real arms race rht now in the content wars of streaming. >> incredible i knew three of the names they also get younger blood also you know, i remember the gap when they fell off they kept getting old hipsters. hey we have sheryl crow 18-year-old like who? but saying that i do have that a l tv thing it is horrendous. obscure crazy movies you've never heard of. me an my wife are like what the hell is this? [laughter] they're not -- they have to -- they have to step it up. there's a lot of work for people who are actors directors, producers -- and that's job market ever --
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in hollywood in the around -- >> you're going to get a job right now. it is a wonderful time. last chance shall i buy am l at 190. yeah because they've got the money to catch up. they will catch up. you're excused charles. [laughter] one more for you google investing half billion in e-commerce company jd.com. look charles that's a back door enter to china because they can't get in themselves. >> a smart move on their part and the fact that china people should know we're talking -- china market is down 9% this year in the last three years. you know, they've got a dead issue. they've got other issue hoar an glad to see us going in there and buying into assets right now but it also sort of aluminates fact that there's issues within china and chinese companies too. >> didn't that go fast -- of this show and open the market it is 9:40 already. that's a it will tv movie that's re.
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[laughter] >> good i know they're not bad charts thank you. james all good stuff. all right check the big board coming off the low and a not by much we're down 244oints. interesting headlinen video games which i'm newly discovered -- the world health organization will recognize video game addiction as a mental health disorder. dr. marc siegel will discu that one for us. but first the editorial staff of the boston globe, they say google is too big . they call for the government to break it up. the deputy editor of the globe will make his case on this program, next. six inhe morning. she thought it was a fire. it was worse. a sinkhole opened up under our museum. eight priceless corvettes had plunged into it. chubb was there within hours. they helped make sure it was safe.
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talk to your parkinson's specialist. there are treatment options that can help. my visitors should be the ones i want to see. (sighs) i hate missing out missing out after hours. not anymore, td ameritrade lets you trade select securities 24 hou a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, with td ameritrade. ♪ all right how much are e we down now after 12 minutes worth of business down 228 .9% on the downside and this for you general motors may spin off the self-driving unit tell me about that nicole. >> crews add nation is what
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they're doing for self-driving cars testing out chevy bolt in many cities including san fran, phoenix, detroit but what about options will there be an ipo soft bank is newscasting over 2 million nearly a billion now, and then a billion later. once they get this really up and running. i need those numbers somewhat rough. so the options are unlikely this is what will the insiders say unlikely to see a spinoff because then they risk feeding control and likely option is offering of -- less than 20% of equity because that's -- [inaudible conversations]
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self-life took a year so throw them out because 73 people in 31 states have been sickened 24 hospitalized. no deaths right now. but the most effected inew york number one. california, massachusetts, and pennsylvania -- >> but to -- every box of honey smacks thrown out and no matter when you bought them out. all right thanks liz. we have a headline for you from the boston globe. look at this editorial board came out with break up google. joining now boston globe deputy managing editor. can you summarize the reasons real fast for us why you think that google should be broken up. go. >> sure, we think that -- regulation of people have looked at computer companies as if they're dorm room projects but
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google and search it dominatest- online advertising business and it own youtu the distribution platform but we think that -- we should take a closer look -- and -- what do you think we'll do with the da it data but they have -- [inaudible conversations] increase able what they're doing now so the reason they should act soon. >> so would breaking them up solve the problem? i mean, they have power with all of these avenues all of these silos that they've got if you break them up they have the power within those silos to enhance that power. before --
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>> i think it changes a lot actually. i mean if you were to celebrate youtube, separate out the search capacity from their units it would change their business and -- competing with each other and interpret companies and you woulave a much more competitive environment. i think that we should really companies are running the internet into what you're describing and you know, that potential for -- that's government to step in. i assume you're own the left-hand side of the aisle feel free to correct me. [laughter] >> depends on the issue. here's the issue.
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last week we reported it that google its employees had organized a petition and they refused to work at artificial intelligence programs for the military. in fact, they wanted tohdraw google from any defense of the united states of america. i prnlly think that's grounds enough to keek them out. how about you? >> well, i think having -- what that episode illustrates what their different companies that will take different points of view about working for the military if you have one company that's that dominate their decision not to participate in that sort of thing makes big difference for the military that's sort of a problem. you want to have companies that have a variety of points of view have a variety of ways of ating and have them all have an opportunity to compete in a vibrant internet marketplace. >> rich young folks in northern california made a fortune on google should be obliged to join in and defend our nation. what do you say to that? >> well i don't know about
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people being obliged to do anything. i think the important thing for government to do in this circumstance is to look at how the market is operating today. to not treat these companies like dorm room projects and -- to create variety and competit in the internet marketplace. >> thanks so much for coming on the show and different in points of view and close to my heart so welcome to the show. we'll see you soon. thanks a lot sir. okay where with r we on the dow this morning down about about 260 now down 200 but we've got 27 of the dow 30 on the downside. only 3 are winners. michael -- the the man behind the report and of the fbi he' going to testify live today before congress. judge napolitano will have a preview for us.
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>> down exactly 200 points, and that is about about .8%. off the low of the day. here are the name which are drags the dow down intel, 3m travelers, johnson & johnson all dow stocks down 1 to 2% and 4% down for intel. politics the justice department inspector general michael
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horowitz testifies today on his original report which was about the fbi and hillary. judge napolitano is here. okay, so we testify this rch about 2:00 eastern time before capitol hill. i'm looking back at that ig report i see its 500 pages of indictment and a couple of pages as to why she should not be dieted or the fbi shouldn't be indicted. here's what will happen today reallies will try to get him to say what do you mean there was no bias? isn't this bias, isn't this bias isn't this bias, and democrats will get him to say -- well they conducted a proper investigation decided not to indict her as far as you're concerned the decision not to indict her was based upon absence of evidence. both will say -- is this the report you wrote? or is this the version you were allowed to reveal? stated differently are are there drafts and if so we want to see them and then you're going to see because draflts are privilege because mike hair wits
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does is take these notes varney we quoted you here qept to make sure we quoted you properly does every person quoted in the report so were there changes and did changes change the emphasis on that report. he doesn't want to answer that. but i don't think so -- because the report is the one he submitted it's not the origin draft we all draftings change wording to make it more precise. >> interesting to see how it could write in tax. we have to stop him and that is not political bias. >> you will be interested in hearing how peter struck himself will defend that language. >> yes because to testify. >> bombshell over the weekend and prepare to the testify. no immunity prepared to testify. i don't know how he can testify. knowledgeable of his fifth amendment rights -- knowledgeable the way sitting fbi agent he can not talk about russian investigation because that's an ongoing investigation.
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you immedte to tell me the fbi will let an employee still a agent talk about why they didn't seek the indictment. >> that's a bombshell. >> okay chief elizabeth holmes former chief i should say indicted on fraud charges. could she face jail time? >> absolutely. these are profound fraud charges. because they not only involve money. they involve examination of human blood. and they have involved physicians, relying upon statements she made about the ease with which an accuracy in which the test that her peel devise worked. last week we were talking about shkreli being spent to prison. distinguish between the two and i did my best to do it. ignorant as we were. at the time she had been indicted they didn't release the indictment. >> at the time -- no. now from what we know. but correct it is a fine line. between siflt fraud when the fcc
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goes after you because they think you cheated your investors. and criminal fraud when you actually tried either to line your pockets or to harm the investors. remember, fraud is harm. the government has to show harm. the government has to show the harm was intended they believe they can show it tip i read the indictment it is profound. number two as well criminal charges. sir, judge we'll see you in the 11:00 hour. you've got it, sir. trump well he's taking heat from the left over his immigration policy. they say he's breaking up families. i say -- he's the only one with a workable solution to the whole my graduate mess. you'll hear about that in my take which is next. hi.
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stuart: it was three years ago, an army of migrants marched across europe demanding entry. germany's chancellor angela merkel let them all in and changed europe forever.
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the open bordericy over there has now been shredded. something similar is taking place on our southern border, a rush to get but in america, there is a president determined to enforce the no entry laws. at the moment the debate centers on the separate of families. sensational headlines. media concentrates on the children. pounds the president and trump gets the blame. that is the reality today. but america is faced with a humanitarian issue, how do we de decently with this latest rush to get across the border? now in the short term the separation of families will be dealt with one way or another but the separation issue actually makes the president's point. the root cause of the problem is the open border. as long as it is easy to get across, as long as the democrats welcome illegals with open arms they will come. think about it. if you make it across the border, you're home free.
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who wouldn't head north? the president's answer is, build a wall, deter illegal entry with strict border enforcement. the democrats want neither. they won't say it but they're sticking with open borders. so long as it works in their political interests. back to europe, since the migrant army arrived, sentiment has done a 180. populist, anti-immigrant politicians are attracting widespread support, in germany angela merkel is fighting for her political life. she may be out this week, done in by her open border policy. what happensere if the democrats stop the wall and keep the grant surge going, do they win politically? or, if the wall is built and if the migrant surge is halted does president trump eventually win? my opinion,ui the wall, deter illegal border crossings and the president wins because he is the only one with a workable solution to the
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generation-long migrant mess. that's my opinion. the second hour of "varney & company" is about to begin. ♪ 200 points down for the dow industrials. 32 minutes into monday morning's trading session. disney, one of the biggest losers of all the dow 30. it got a downgrade over its fight with comcast for fox assets. now down two bucks a share. the company thinks that disney is an unwinnableittion in the battle tseox assets. chevron and exxon, a couple of winners in the dow 30. although exxon has just slipped a little bit. i'm not sure, intrexon is that exxon. it is incorrect. i got it wrong. exxon corporation. that can't be exxon, totally
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fake quote. big tech names, facebook up, alphabet up, apple is 187 this move so sound slightly. come on in please, keith fitz, money map press chief investment strategist. i want to talk about the trade situation. do you think, look, i'm not calling it a trade war. it is a tense trade dispute, tit-for-tat, the china and the united states. do you think over the long term it hurts our stock market? >> yes, i do, stuart, beyond any shadow of a doubt. granted you can have all the market not being correct, about the models not being correct, about the politics not being correct, long term it is implied tax on the american people because it impacts markets because it chaes the psychology. stuart: only if the tariffs to into effect an stayed in effect over long period of time or is
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it the threat of tariffs. >> it is about the threat. it is all about psychology. the threat of it, thenknowns the uncertainty, that is the real bugaboo here. that is why markets are down hard this mning. stuart: let's suppose it is drawn out, that the tariffs do go into effect, how far down does the market go because of trade? >> it is hard to say, stuart. i think 10 to 15% is not out of the question if this is a sustained volley. stuart: 10 to 15%, that means you could take 2000, 2500 points off the dow? >> ugly. ugly. stuart: i like to talk about a stock you like big time, raytheon. you like them because they are the leading missile supplier, is that right? >> certainly one of the reasons i like them. they're a quality company. just increased their dividend by 8%. they have a strong stock buyback program. they are a must-have company in the world we live in today. and that is important because it
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means defensive, pardon the pun, but also a good place to harbor your cash as you wait for markets to settle is out. stuart: two questions, a, do you own it? if you do, b, where do you see it going? >> okay. so personally no. family yes. we do own it. i see it going higher. i'm looking to fine tune my holdings here and we have recommended it but the company does not own it. stuart: got it. where do you see it going? >> i see in concert with the broader market, a little bit of a downdraft but i see the stock powering higher into next year. stuart: got it. there is a firm called idc. it says apple will take the lead in wearables, wearable computing power is what they're saying. you brought to your attention a company on the screen now, bio telemetry, bat. you say that is associated with apple and wearables. explain why you like it, please.
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>> sure. apple is making a device pivot. they're not the ipads we knew about. the ecosystem we talked talked . they're shifting into wearable technology, specifically wearable technology. what this means down the line, potentially get prescribed an apple watch. get prescribed some sort of apple device. this company makes telemetry makes those reads to apple and to the doctor. if you like the doughnut in the morning, your insurance goes up in the afternoon. stuart: wow. that is most unfortunate future world i don't want to be a part of. are you serious, you could subscribed by the doctor, get you a apple watch because it is viable? >> not yet. it is coming. you have got heart monitors. you have the c-pap machines. you have all kinds of things came into your life voluntarily now prescribed by doctor. i think apple knows what it is doing. they're talking carefully with
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hospitals and insurance companies. only a matter of time before these things are lined up, you are in fact prescribe ad apple device. stuart: i find this absolutely fascinating. thanks for bringing it to our attention, keith. see you soon. president trump meets with key senators this afternoon about immigration. moments ago the president tweeted this, children are being used by some of the worst criminals on earths a means to enter our country. has anyone been looking at the crime taking place south of the border? it is historic. some countries the most dangerous places in the world, not going to happen in the.s. change the laws. joining us now virginia congressman dave brat. congressman, big picture for a moment here, specifically the separation of families. i put it to you, the democrats are winning on this issue. it's a humanitarian issue to them. they're winning. what say you? >> yeah. no one wants children separated from parents. so the only reason the left is
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winning because they own the mainstream media. the republicans are always put on in the spot in the media. the democrats have to answer why are you in favor of open borders? president obama wanted e-verify. bill clinton wanted e-verify. we have the goodlatte bill which already is a compromise how the fix the border. the only reason you have this border problem right now is because the democrats won't come to the table at all to negotiate. just like on the tax cuts. not one democrat. just pure politics. so we said we'll take care of 700,000 kids. they said no. trump says we'll take care of 1.8 million kids, the democrats say no. then they go off on these issues that are significant, we can solve those tomorrow morning. president trump said that in his media blitz the other day for 45 minutes. democrats come to the table we can solve this one. where are the democrats? they're never asked anything by the media. stuart: that is true, isn't it? you could solve this if the democrats come to the table and you come to some compromise within the republican party.
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>> yeah. stuart: your point is the democrats do not want to come to the table because they're winning on issue and think it helps them in november. >> they're not winning on issue. 60, 70% issue. the democrats never raised issue. we did the goodlatte bill, compromise with the daca, et cetera. we had a more moderate liberal group of republicans, 25 republicans went to work with 200 democrats to weaken the goodlatte bill. then weaken even the trump four-pillar bill. this new compromise bill is very weak. it won't solve the fundamental problem. we'll be back here in five years. stuart: would you vote for isn't. >> where are theemocts? stuartould you vote for it? >> no, i won't for it. it doesn't solve the problem. just to show you why. if you do 2 million amnesty, right, coming in? you will be processing those two million. that is just the two mlion kids we think have status based on some criteria. you have three to four million folks you have to process. there will be no border control
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at all. all the agents will be busy doing that you have to have e-verify in here to stop the magnet. we have want to help the rest of the world. but the rest of the world ispree of law csh at home, guatemala, honduras, et cetera. go google paris, amsterdam, germany, italy right now. you laid it out perfectly in the opening monologue, if you open the borders the american people have no idea, they think we're being compassionate. it is not compassionate in the long run. it sounds compassionate in the short run. stuart: dave, thanks for joining us. >> thank you, stuart. stuart: we appreciate it. coming up democrats say the trump administration separates family at the border. former first lady laura bush calls it immoral. brandon judd the head of the border patrol union. he will tell us what is really happening on the border. a topic we've been following for months, the tax exodus people leaving high taxed states
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for low-taxed states like florida. we have the numbers, how many people move todd palm beach in florida this past year. we have the numbers. this story blew me away. we've been following the gaming revolution here at "varney & company" apparently how there is a thing such as gaming disorder, seriously, gaming disorder. we'll break it down for you. you're watching the second hour of "varney & company". you're headed down the highway when the guy in front slams on his brakes out of nowhere. you do too, but not in time. hey, no big deal. you've got a good record and liberty mutual won't hold a grudge by raising your rates over one mistake. you hear that, karen? liberty mutual doesn't hold grudges. how mature of them. for drivers with accident forgiveness, liberty mutual
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stuart: 45 minutes into the trading session, we've been right at this level for just about the whole day, down over 200 points. here's a remarkable headline. the ceo of audi, the german car company, has been arrested. this is all about the diesel
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emissions scandal. audi is part of volkswagen that stock is down nearly 3%. tesla rallying despite another model s that burst into flames in los angeles. we'le more on that story. 360 this morning. >> >> fox news poll, 60% approve by nfl new anthem rule which requires them to stand for the anthem. world cup is setting viewership records. argentina-iceland match, where we got the numbers from, it raked in nearly 3 million viewers for the network. thats a lot of people, for a foreign soccer game, come on? that is huge. i would like to see the numbers for mexico-germany. that man right there. his name is burgess owens. he is a super bowl xv champion. ain't that right, burgess? >> how are you doing, stuart. stuart: i'm doing very well. i think the nfl, i think you don't share this, i think the
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nfl should get a little worried. they have a season approaching. the anthem rom is hanging over it all, meanwhile soccer is going t gangbusters during the world cup. what say you? >> first of all, what the nfl is doing right n has been a process over the last three years. i'm so proud americans are seeing it. they don't like the fact they can have a culture that is anti-american. i think that we need to start looking, not so much at the players. the players are doing what they have learned or taught to do. we need to look behind the curtains. what about these owners? the owners, leftest, 49ers, doesn't mind betting their agenda ahead of the game. we he to have them be accountable to what they' doing, i tnk we can get this thing right. again, we're going three years into a problem that should have ended the first year with some rules and regulations. stuart: burgess, i may be out on a limb here, but this world cup, i don't know whether you follow
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soccer. i know that you don't. i understand that. believe me this world cup has been sensational. there are shocks. there are surprises. the viewership is astronomical. you go around any sports bar saturday or sunday this weekend, and they were jammed. seriously there could be a switch here as nfl football gets involved with all of these problems. soccer comes along, real, real, strong. i repeat the question. should the nfl be worried? >> well the nfl is already, they have a strategy a global strategy. keep in mind. they're looking doing a super bowl game in london the next coupling years. i see strategy of demeaning the american brand which they're looking at global stretch. people understand that the nfl owners, they share across the board in revenue equally. if they start looking at global reach, all of sudden they're looking at billions of dollars. i see this whole thing what
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they're doing now trying to get outside of the united states and demeaning the brand as part of that. so look at the nfl trying to compete with the world cup. that is what they see. leftists and globals do not see american patriotism the way we do. i think that is the long-term plan here. look at goodell's contract, $40 million a year, 10% of that is guaranteed based on growth. you can not have growth based on what they're doing in the united states right now. stuart: i didn't know that. only 10% is guaranteed. the rest is growth. i think he has a problem, burgess, i really do. burgess owens. thanks for joining us. >> thank you. stuart: kim kardashian working on her next prison refore. ash? ashley: this is an individual by the name of kevin cooper, who is on death row for a particularly violent quadruple homicide. why is she taking on this case? well, when lawyers working on this case asked for d testing on a t-shirt believed to belong to the killer, guess what, the
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lab found the blood of this mr. cooper. but there was a twist to it. they also found something astonishing. they found test tube preservative. meaning that the blood on the t-shirt came from a test tube st that someone planted it on the t-shirt to have him found guilty. so kim kardashian is on this. she got to alice marie johnson out of jail serving a lifelong sentence for a non-violent drug offense. she is on to the case of kevin cooper. stuart: if you can get to the president he can change things. ashley: yes. stuart: fascinating. good stuff. president trump versus the philadelphia eagles. the owner of the chicago cubs, todd ricketts on this program said the president should reinvite the eagles to the white house. he says they should go. the question, what does former super bowl winner joe theismann think about that? he will join us in our next hour. apparently there is such a thing as gaming addiction
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disorder. so says, i don't, the world health organization says yes, it's rule. we'll see what doc siegel has to say about that because he is next on the show. ♪
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ua: see those canada goose jackets? very popular. see them everywhere. very strong sales last quarter. credit suisse, i thi so much of the shakeket they raised their target price. they think the goose is going to $88 a share. it is up 8% this morning at 65. now this. the world health organization will recognize gaming addiction as a mental health disorder.
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what will doc siegel have to say about that? he is with us right now. by the way, a 9-year-old girl, british girl, her parents said she was addicted to "fortnite." popular videogame. is there such a thing, addiction to playing? >> i think there is. world health organization calling this out will allow insurance to cover there. stuart: therapy for gaming addiction. we have to pay for that now? >> another word for socializelation. i love "fortnite," making $300 million a night on "fortnite." apocalyptic game where you battle each other, one person survived. my 13-year-old, i asked him if he played it. it is not what they're saying. people ban together and play together. what happened to you in that game any was annihilated. how did you feel? didn't bother me.
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started playing right again. there is violent aspect. stuart: do you think he is addicted to playing that game? >> yes. i think he is. i think oths are. i think his point is right, you can ad -- addicted. stuart: no more fortnight. intervening therapy. >> not my child. someone sitting there playing all day long. this will be 180 billion-dollars worldwide, companies making off videos games. they can be educational tools. they can be social interaction tools the way my son says. think can be socially isolating. i am concerned about that. stuart: we're out of time. >> what do you think? stuart: i'm not inclined to believe there is such a thing as absolute addiction. there is something wrong with the person other than watching videogames along. >> fair point, agree. there must be underlying mental health disorder that would allow this to occur. i agree with you.
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stuart: thank you. >> you're right as usual. you only been wrong once. stuart: i can't remember. >>look at this please. north korea talks continue. secretary pompeo and national security advisor bolton meeting with noko officials. our next guest calls this a good cop, bad cop scenario. the question, will it be successful? president trump going toe-to-toe with the media last friday. it was extraordinary thing to watch. we'll take you back there because it was extraordinary. ♪
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♪ stuart: oh, i like it.
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i like it. it's a good one. it has some rythym. liz: you can drive my van. stuart: i drive a chrysler town and country van and i love it. check the big board, we're holdg almostead steady, down 230 points t has been that way for the past 10 or 15 minutes. how about the big tech names. yes, they are. facebook at 197. i believe that all-time high. alphabet up, microsoft up, only apple down a buck at 187. look at ge. that stock is down again. i can't believe it. where are we now? $13 a share. they will cut 1200 jobs in switzerland. i don't think that accounts for the latest downside move in ge. apple teaming up with oprah to make programs for its subscription service. howard kurtz is with us. host of "mediabuzz" on the
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fox news channel. is this latest example of big tech with a truckloads of money, into new media? i can see you agree with me, howard. go ahead. >> this is the future. apple a global giant, locking up oprah, a global brand to create all the programing. reminds me of the recent deal made with barack and michelle obama to create lots of programing. apple, amazon, tech companies, as well as apple this, is what is driving the old media, companies like comcast, to try to jump in and topple the disney bid for 20 twenty-first-centuryx entertainment properties to compete with the tech monsters. stuart: how do you feel about it? they are monsters. apple has quarter of a trillion dollars in cash. the other guys have hundreds of billions. how do you feel that kind of
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money exercising enormous power over your territory? >> i'm a free market guy. if netflix can make it work, that is great. disney was t most valuable media company for days last week. you had to send away for dvds. they create lots and lots of good, original programing b i do worry about the growing corporate concentration as the companies get bigger and bigger. that means they can stiff consumers with higher prices. they can choke off competitors putting them on slower speeds. there are definitely some warning signs here but on the other hand this programing is going to benefit consumers who like to be able to watch whatever they want to watch, when they want to watch it. stuart: i think we're almost there, howard, very close at least. i want you to listen to what president trump said about the media in an impromptu interview. you remember this, howard, for the benefit of our viewers roll tape. >> i don't want to see a nuclear weapon destroy you and your family. >> you wished americans would sit up at attention?
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>> i'm kidding. you don't understand sarcasm. i always liked michael. he is a good person. excuse me. do you mind if i talk. you're asking me a question. i'm trying to ask it. [shouting questions] >> quiet. quiet. that was -- >> thatas a direct order? can i answer your question please? please. >> you're asking me the same question over and over. quiet. she is so obnoxious. stuart: howard, i say the same thing to you every week, you have never seen anything like this before. now i really mean it, because you have never seen anything lit. >> not even close. my favorite part of that morning was the president's shoutout to you, stewart. how many times have you played that this morng? stuart: hold on a second. we'll play that roll tape. >> we had stuart varney on air. >> by the way he is great. >> that little part -- >> he is right. he knows what he is talking about. >> that was not scripted ladies
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and gentlemen. the media looked awful. it was like out of control kindergarten class in need of a time out. they kept shouting over each other. nobody could hear a thing. when president tried to answer questions, reporters would interrupt and debate him. i was just being sarcastic i said i wish the my people would pay attention the way kim jong-un's people. the president, he says a lost controversy hal things. find for the media to feast on that. when he makes occasional joke. he said he was joke, was he really? lead anecdote in "washington post" story, "politico" story. that shows the mind set against this president, never seen anything like it before. >> it was fun. good tv. stuart: getting a lot more of it next couple of years. howard, see you again soon. now this. secretary of state john kerry and national security advisor john bolton they will meet this week with north korean officials
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to quote, get this stuff done. joining us bill parker, east/west institute ceo. you think it's a good cop, mike pompeo, bad cop, john bolton situation. i understand that but do you think it's a successful strategy? >> i do think it's a successful strategy. when you look at it, we're using all instruments of national power. diplomatic, information, national intelligence and law enforcement. across the spectrum you have the good cop on one side, mike pompeo, who is looking at the diplomatic side of the house and bolton who is looking the at as national security advisor, if you don't behave yourself and do what we say, we have the capability to thump you if we want to. stuart: do you think the president is organizing this strategy, you get out there do this, youet out there do that? >> again. you're looking at all the instruments. whether economic side to the sanctions. talking to chinese and russians or south koreanss he is doing that. that has been successful to t
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points. we're further along than we have been for a long time, if for in these negotiations. stuart: secretary pompeo actually put a time frame on it, he wants in 2 1/2 years demonstrable prove they are denuclearization. that takes you up to president trump's first term. very convenient timing. >> you're looking beyond nuclear weapons. you're looking at all the weapons of mass destruction, when you look at the high yield explosives, long-range utility we have two stars generals on our side and theres removing long-range artillery close to korea. stuart: wait a second, our guys, two-star generals are talking with who? >> with the koreans. stuart: north koreans? >> absolutely. stuart: about getting rid of our long-range artillery which is on the border. >> that's correct. i want to make it clear. they're doing it this through the south koreans through these discussions. these discussions started this weekend. you had a discussion removing
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those long-range artillery pieces from the border which obviously is a great threat to seoul. stuart: that is real progress. >> absolutely. stuart: we're giving something here but nonetheless you regard that as progress? >> i do. stuart: at the end of the day, at the end of 2 1/2 years, for example, do you think it is possible they really will get rid of all the nukes in north korea? really? >> we had this discussion before. i think we'll be heading in that direction. when you talk about getting rid of the nukes you're talking about getting rid of the capability to develop them. you're talking about the capability to deliver them. i think that delivery part is very complicated, as well as capability to develop in the future. stuart: but the deal would be, you get rid of your nukes, in return, nthorea becomes prosperous and the kim jong-un's of this world they say in power. >> well -- stuart: at the end of the day that's possible? >> i think it is possible if you have -- stuart: is it probable? >> there are three steps. stability first, okay, that
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means get rid of the nukes, get rid of the weapons of mass destruction. look at capitalism and democracy, then look at unification. this is a several-decade process to bring all of those together. i will say this administration is compressing things quickly here so it could happen quicker. i think it is definitely possible you could see the verification will be the key. stuart: bill, thanks for bringing us that news, that our two-star general twice are sitting down with the south koreans about removing long-range artillery, high explosive artillery, that is very important point. thanks for joining us. >> great to be here. stuart: yes, sir. now this, another bad headline for tesla. the stock doesn't reflect it. the stock is up four bucks. this time a bad news, a celebrity tweeting about, what is it susan li, a fire? >> spontaneous. west wing actress, merry mccormack, tweeting video of her husband's model s catching fire.
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her husband is famous director, include 13 reasons why. mccormack said thank god my three little girls were not with him. they said this extraordinarily unusual occurrence. this is after autopilot crashes in utah, florida. at a time tests la is cutting staff. they're laying off 9% of the workforce. i think the stock is up today because of a warning from elon musk i am self. he says. this is a warning to short sellers up there, you have three weeks before the short position explodes, he says. he has been sleeping on the factory floor 24/7, to get model s, 5,000, production 5,000. he has something maybe we don't. he did this before in 2012. the stock went up 500%. stuart: let's not forget that. >> he has a track record. stuart: getting back to the fire, we've had these incidents before and they have not, at this point, significantly affected the stock price of
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tesla. >> it is up 15%. outperforming the market so far this year. stuart: i think you're right. >> that is scary. i don't want that to happen to me. stuart: no. there again you don't have a tesla, or do you? >> i was thinking about one. is that an endorsement. am i coming back on if i do that? uart: susan, thank very much indeed. good luck with the tesla. we told you about apple teaming up with oprah, creating content. wants to create movies. joined by a apple executive with steve jobs on that kind of deal. checking the big brd. we were down 180. we were down 260. we're coming right back. ♪ brighthouse financial allow you to take advantage of growth opportunities...
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♪ ashley: former reagan economist art laffer says president trump's policies will generate strong economic growth for years, he says. he also praised stewart for getting a shoutout from the president. take a listen. >> i had a debate the other day in new york with jason furman and his view was that we can only have 2% growth as far as the eye can see. my view is, with a new policies, with the tax cuts, with the deregulation we talked about
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numerous times, stewart, is that we can have much higher growth than that. three plus% growth, if we get that for a decade, stuart, we willol all the problems. you missed most important news item of the weekend, the president's press conference where he suted you out. i was watching that. it was amazing. ♪ with eia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. add-on advantage. that's it. i'm calling kohler about their walk-in bath.
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stuart: if you look at the overall stock market you will see the dow is down, the s&p is down, but nasdaq is down. look at that. russell 2000, that is index of smaller companies and just hit yet another record high. so this is a market that has different levels, different movement, depending what size of company you're talking about. then we have the "wall street journal." they say yes, those new tax laws have more people looking to move to lower-taxed states like florida. joining us now, the director of luxury sales at douglas elliman real estate, christopher levitt. welcome to the program. >> hello, stuart. how are you? stuart: i'm very well. i'm looking for hard numbers how many people are moving to places like palm beach? that is where you are, luxury real estate, give me some numbers. >> 62% over quarter one 2017 our numbers are up. that is huge. because we had amazing quarter
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that year. stuart: so you'reli me that you sell real estate in palm beach. that is luxury stuff and 62% -- >> i do. stuart, sales were up 62%. now do you link that directly with tax refugees from new york and new jersey and elsewhere? >> i do. i mean if you look at a perfect example, a ceo buys a 15 million-dollar home. he has to move his company. his employees have to move. it's a trickle-down effect. stuart: those people are moving because of lower taxes in florida? >> absolutely. i can't speak to the tax laws themselves, i can tell you that it is definitely affecting our market. stuart: is it affecting the price of real estate in places like palm beach? >> definitely i think our prices have gone up dramatically. if you look on realtor.com, you see pending, pending, every day in the paper. there is a new 40 million-dollar sale that is front page. it's record-breaking.
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stuart: i don't know whether you can tell me, but douglas elliman is broadly based company. you do business all over america i think, if i'm not mistaken? >> we do. stuart: are there problems with luxury real estate market in greenwich, connecticut, or new york city, which are high-taxed states and would suffer from what is going on with the tax reform bill? >> i don't think that is happening, stuart. our sales are strong in those markets, aspen, beverly hills, it is strong all over. not everyone is making a mass exodus to florida. you have people coming down here for lifestyle reasons. great architecture. pr lower than most of these markets we're talking about. i don't think that is accurate. stuart: if i were you, if i were marketing luxury homes in palm beach, i would play heavily on the tax angle, and organized
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heavily in new york, new jersey, connecticut, come on down, we have no income tax, no estate tax. that tax reform plan really helps you guys? >> i do, guys. i'm licensed in new york. i'm there once a week marketing, networking. so you're, i'm listening to you. stuart: okay. look, thanks for coming on the show, christopher. we do appreciate it. we hope to see you again soon. >> my pleasure. thank you so much. stuart: i want to talk about the honey snacks recall, honey smacks, that's it. this is about salmonella. this recall is now, i could say it is huge, isn't it. liz: it is big. 73 people in 31 states sickened, 24 hospitalized. the government and kellogg's, saying get rid of all the boxes sell by date a year or so, june of last year, june of this year. get rid of all the boxes. you will get, they really fear this will be widespread.
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31 states. hardest hit, new york, california, massachusetts, pennsylvania. they have the hayest number of people getting sickened by salmonella in honey snacks cereal. stuart: that is surprising. we're used to hearing about salmonella in vegetables, fruits. ashley: yep. stuart: chicken this is dry cereal enclosed in an airtight bag. that is surprising they have to track it down. liz: looking into the factory where it was made. stuart: guess they would be, thanks, liz. coming up,ouse minority leader nancy pelosi will tour the border in san diego along with 15 other democrats. they are slamming the administration. christian gaspar is chair of the san diego board of county superv ill tls about pelosi's visit to her border. we'll be right back. ♪ mgx minerals' disruptive technology can extract lithium -
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stuart: apple is teaming up with a startup company that they're pushing for a fix to locating 911 callers. lizzie. make this interesting. liz: i'm really going to try. so you will get later in the year a new software upgrade, basically the upgrade will show
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your location where you are at if you make a 911 call. right now 10,000 people die every yearause locating the person takes too long. so 80% of all 911 calls come in from iphones and smartphones. ashley: stuart varney, you could make a call and we may save your life. then again we may not. stuart: you made it interesting, you made it relevant. that was pretty good. >> i tried. stuart: excellent actually. liz: now, let's watch it. stuart: the world cup, it was a great weekend. first of all argentina played iceland. who would have thought that the argentinian team containing great messy could only tie with iceland. messi. ashley: yeah. stuart: here is the real shock, mexico beat germany. liz: what? stuart: watch this. watch this. mexican guy comes around, he shoots, he scores!
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unbelievable. mexico beats the world champions. how about that? liz: whoa! stuart: next case, brazil versus switzerland you would have thought brazil would win hands down. wrong. they only tied with lowly switzerland t was an exciting weekend. ash, do we have the video of people in mexico jumping up and down. ashley: i love when they go to the individual countries. stuart: there you go. okay. liz: what happened? stuart: because of that, loads of people jumping up and down in mexico because they beat the germans, a small earth tremor was reportedly reported. liz: like an earthquake? stuart: minor leagues earthquake. >> game felt around the world. that was unbelievable. stuart: what was that? okay. we've got a big guest coming in the next block. his name is sean spicer. talking immigration with sean. i can also read this. "varney & company" does acknowledge negatives like maybe a trade war rising interest
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rates and a debt problem. you unlike the rest of the media we cover the positives like a booming economy and i say it will be bad for democrats. my take top of the hour. here we go. ♪ i have to tell you something incredible. capital one has partnered with hotels.com i have to tell you something to give venture cardholders ♪ pay with this... ats.com/venture. 10 miles per dollar? that is incredible. brrrrr. i have the chills. because you're so excited? because ice is cold. and because of all those miles. obviously. what's in your wallet? i'm not sure.
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stuart: if you watch this program, you will know the economy is doing well. in my opinion, it's booming. but you don't hear much about it in the media. why not? it's really simple. a strong economy is good news for president trump. and that is something the media just can't handle. it is four months til the elections which will decide which party runs the house of
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representatives. the media almost unanimously backs the democrats. they will only report negatives. they will ignore the following: in america today there is a job for anyone who wants one, there's a sur this spending. ordinary folks have more cash. why? because tax cuts, bonuses and better wages are boosting confidence in the future. it is economically brighter. all measures of confidence are at record highs, and most important of all, 4% growth, not seen in a long time, but that's where we are now. in short, we're arriving at the promised land of prosperity. no wonder the media can't handle it. if elections are all about the economy, the democrats are not looking good. it is trump's growth agenda that is working, not the whining left which hasn't had a prosperity plan for a very long time. soarny and company acknowledged -- "varney & company" acknowledged negatives; trade wars, rising interest rates and a massive debt
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problem. but we're not afraid to say the economy is booming, and we are on the road back to prosperity. stay there, there's still another hour to come.♪ ♪ stuart: well, we're coming back a little. we were down 260, now we're down 170. ashley: we'll take it. stuart: yeah, we'll take it. [laughter] i'm trying to -- i'm not trying to put a positive spin on it, but i am saying we're coming back a bit. left-hand side of your screen, still most of the dow 30 in the red. trade is the big problem this morning. back to my editorial, top of the hour. fox news contributor scott martin joins us now. i say we are on the road back to prosperity. we get 4% growth. the media, though, refuses to acknowledge it. do we, the voters, do we, investors, feel that we're back to prosperity? >> i hope so.
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let's not listen to media that has ignored the record 401(k) balance that we've seen, stuart, the amount of rising wage growth that finally came back to the economy after years of dormancy. like you mentioned, the gdp projections for q2 that are well over about.6 is our latest read. yes, i think we should think about internally how we before we go trusting these outside sources that clearly have an a agenda to push which basically wants the economy as we've seen from, say, guys like bill maher to go into reces people to be miserable so they can actually have a shot in november which i don't think they have. stuart: all rig let's look specifically at apple. i've got two headlines for apple. first off, they're teaming up with oprah to create new content, and apple reportedly wants to make movies with an animation studio. so, scott, to me, it looks like apple is using its massive amounts of money to just buy content and buy into the media business. >> yeah. finally, right? i mean, they've been sitting on
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this mountain of cash for the last several years and have probably missed out, stuart, on maybe netflix in its infancy, but certainly opportunities along the way in the last couple of years. we still own apple here, we still like it. i lov teaming up with oprah. just ask weight watchers how that worked out, it did very well for the company. and look at the animation side of this things too. i'm guilty of being one of the incredibles 2 people that went over the weekend with my two kids, so part of that $180 million or whatever it raked in over the weekend. animation is definitely strong. kids love these movies, as do parents. i admittedly loved that movie, so i think it's good they're getting into that space too. stuart: do you think this news that they may be getting into animated films, and they've hired oprah to make original content, do you think that's big enough to boost apple's stock price long term? >> if it's good, yes. in the sense of if they do it right. you know, you're right, i mean, we're talking about a company that went from hardware the some software to now this production
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side. it's going to take a while, believe me, because a lot of these other companies have such a head start on them. let's face it, man, it's apple. when they launched the ipod back in the day andhe the iphone, nobody, i promise you, would have thought it would have grown into what it is today, so i believe in them. stuart: thanks, scott, hold on a second, more from you in a moment. i'm bringing in andy cunningham, former apple executive, and she's the author of that book, i believe it's get to aha. it is all about apple and her work with steve jobs. come on in, andi, good to see you again. it seems like they've hired oprah, may be getting into animation here. is this a whole new direction for apple? >> younow, it's all about owning your digital life these days, and, you know, things like commerce and communications and community and entertainment, of course, and mobility and productivity. and all the big brands, you know, facebook, apple, amazon, netflix, google, maybe even uber are all vying for a piece of
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that. and the battle at hand right now is entertainment, and oprah is apple's current strategic -- and i might say -- brilliant move in that direction. stuart: do you think -- you worked with steve jobs. do you think he would have approved of this kind of movement of apple? >> yes. absolutely. i think this is what he was nascently planning with pixar early on. he never got to really fulfill it on behalf of apple, but he did fulfill it on behalf of pixar. he was there, and he knows how to do it -- knew how to do it, so -- stuart: what's the feeling at apple? i'm sure you're in touch with your former colleagues there. are they, is their morale as strong as ever? >> i think they're very, very excited about the potential of being in the content business. it's a whole new thing, and is just because they have oprah doesn't mean they're going to win, but they certainly made a great volley getting into it. stuart: i don't know whether you can answer the question, but i'll ask it anyway. have you any idea which other
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areas apple might get into, bearing in mind that it's got way over $200 billion in cash? any ideas? >> well, they certainly have the resources and the means to own your digital life if they choose to do that. but i think they're going to be smart about this, and i think they're going to focus on entertainment as the next big thing for them right now. so, but just having oprah's not enough. they're going to have to go way beyond oprah, and i think that's what their plan is. so i'm very excited to watch what's next, but oprah was a great start. stuart: they've got the money for it. you can do just about anything with a quarter trillion dollars, and that's a fact. andi cunningham and scott, thanks again. we appreciate you being with us. next one, democrats. they are going after the policy of separating families at the border. we have a tweet on that from bill clinton. here it is. on this father's day -- he put this out yesterday -- on this father's day, i'm thinking of the thousands of children separated from their parents at the border. these children should not be a
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negotiating tool, and reuniting them with their families would reaffirm america's belief and support for all parents who love their children. okay. homeland security secretary kirsten nielsen responded i here's that. we do not have a policy of separating families at the border. period. look who's here. sean spicer, former white house press secretary, joining us now. sean, i don't want to get into the nitty-gritty of what's policy, what's law. what i'm going to say is the democrats are winning on the issue of separating families. will you take me on? >> well, i think you're right from an image standpoint. you look at these photos of children being held and separated from their parents, i think there's no question that nobody should find joy in that. as a parent. difficult so i think that from an imagery standpoint, a very simple message proposition standpoint, this is one that i think the democrats probably win in the
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short term. that being said, i think that you've got to be really careful in this game how those things play out over time. the president's had a record of fighting for issues that the american people support, and i think they all believe in a strong immigration system and tough borders. the president's been very clear ant this since -- about t since he began his campaign. it shouldn't be a shock what the president's fighting for. at the end of the day, like he did with so many other things, this is an issue that will bring people to the table and cause a sense of urgency to gett fixed. ers a short term and a long term in the political sense. stuart: sure, believe with you over the long term, but it's the short term we've got to worry about because -- >> i agree. stuart: -- the president meets with republicans this week, we might get a bill into congress this week. you know, in the short term the democrats' advantage on the separation of families may count for the bigger picture and rule out any agreement on a big
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immigration bill. >> yeah, i'm not so -- hook, i think the administration, it's incumbent upon them to message strongly on in this. if there is any u.s citizen that broke the law and was going to jail, you don't bring your kid to jail if you're an adult in the united states, and the law right now is when you cross our border iegally, that this is what happens. now, just to be clear, stuart, you know, the policy is important. if you're from mexico or canada, ese are -- this is anght away. exceptional group of people that has a carveout for them that when they come through, they immediately get processed. it's almost as if there's an incentive to go through this process which there isn't from our neighbors to the north and the south. so there is a need to really revisit this -- stuart: we could reverse that, couldn't we? with almost the stroke of a pen -- >> yes. stuart: okay, you don't come in, we'll turn you back at the border. we'll send you back immediately. we could do that, right? >> i agree. and we should have some
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consistency with how we address this. you c't have it, one group of people have one set of rules and another for another. but the bottom line i that the law is very clear on this, and you don't get to pick and choose which laws you follow. the law says if you enter the country illegally, then you get processed and you get arrested and you get a hearing. so that -- the law is what the law is, and the process is working its way according to the current law. if congress doesnike it, then they should change it, and that's what i think the president's calling them out to do. stuart: sean spicer, thanks for joining us on a very important issue. always appreciated, thank you, sir. >> you bet. thanks, stuart. stuart: chicago cubs' co-owner todd ricketts told this program, he said he called on president trump to reinvite the eagles to the white house. he said it on this program. next, football legend joe theismann, does he agree with todd ricketts? big meeting today on capitol hill. president trump meets senators, the topic, immigration. more "varney" next. ♪ ♪
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>> at the end of the day whether you're a democrat or republican or whether you're an eagles fan or a patriots fan, warriors or cavaliers, we're all americans. and at a certain point, i think people go to sporting events really to kind of g away from the grind of politics, the news of the day and what's bugging them at home. sports are supposed to be a little bit above politics. stuart: that was chicago cubs' to co-owner todd ricketts. forget politics, reinvite the eagles, let's get everybody involved. who's with us now to discuss that? his name is joe these match. you recognize him? joe theismann? more people know him than me,
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it's always annoyed me. [laughter] >> thank you, stuart, great to be with you again. stuart: what do you think? do you think we all could put politics on one side, the president, the fans, get the eagles back to the white house, do you think it would work? >> no, i don't think it'll work because it's like inviting someone to a dance. once they said no, why would you ask them again? i think the results would be the same. it's not like the players' position has changed. i feel bad for those players that wanted to go to the white house. but as a team, they made a decision that they weren't going to go, and that has to be respected. i think the president offered hey tned it dn, and them to now you move on. it'll be interesting to see what happens with the capitals now after they've won the stanley cup. as far as what's going to happen. with we know what basketball's position is, but now it'll be interesting to see what happens with the caps. stu stawrt now, we've got a poll, fox news poll, 68% of people think political correctness has gone way too far. 68%, that's a huge majority. so do you think that the anthem problem, the protests, the
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problem that it's created does it stretch into next season? is it still with us? >> well, i think that -- i hope it's not with us, let's put it that way. i hope that the protests have been put out there, the issues are being addressed. this is something that doesn't get covered, is after guys have raised an issue in the national football league with the kneeling protest, what is being done. and i think this is something that the national football league should do a better job of, is reporting the things that are being done, the community advancements that are going on, riding with the police, going to the schools, working with the kids, tryingo mak the communities better in all the places that players feel like there's a problem. as far as the rule goes, if you aren't going to come out and stand, stay in the lockerroom. you have a choice. if you do come out, you have to stand. if you tell the national football league players that they have to do something, there's a good chance that some of them are not going to cooperate -- [laughter] stuart: i understand. >> i feel bad about the fact that if one decides to kneel,
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then this whole thing rears its ugly head again. stuart: fair point. do you think the nfl should be worried? and i ask that question because of what's going on with the world cup. i know you're smiling, i know yore not a s but a lot of america is becoming interested in soccer, and this weekend's action at the world cup was sensational. do you think the nfl should be a little worried about the rise of soccer here? >> i don't necessarily think they need to be worried about it. i think, obviously, the national football league feels like they have the best product in this country, but it's called the world cup for a reason, stuart, and that's the thing. the rest of theorld absolutely follows soccer. you know, renaldo was scoring three games in that game where they wound up in a 3-3 tie. i watch soccer to a large degree because it's the time of year where basketball's over, hockey's over, football hasn't started, baseball games are alwa there, so why not watch some soccer? i love watching it. stuart: wait a minute, i'll tell you why -- [laughter] it's exciting. do you ever watch english
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premier league soccer? >> every now and then. manchester united, i even know some of the names of the soccer teams, so i'm advancing my knowledge in the world of sports. stuart: well, it begin again at the end of august, and i'll guarantee joe theismann is watching on a saturday and sunday, i'll guarantee it. and i want you back on the show to rate the games. would that be okay, joe? >> i'd love to do it. stuart: no, you'd hate it. [laughter] thanks for joining us, joe, it's always a pleasure. actress mary mccormack shot this video of her husband's model s tesla, burst into flames in l.a. there were no injuries. tesla says it's an extraordinarily unusual occurrence. no impact on the stock at all. it's up over 1%, $4 higher. 362 on the tesla right now. where's the price of gold in the overall down stock market? price of gold is up $3, 1281. how about bitcoin? down to $6,000 last week.
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$6,4 af today, right now. later on today house minority leader nancy pelosi and several other congressional democrats touring the southern border. i think this is a giant photo op to, and the democrats will be pressing their advantage on this humanitarian issue, separation of families. much more "varney" ahead for you. ♪ ♪ how do you win at business?
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>> we're actually thig of a sixth, and that would be thepace force. can does that make sense? the space force. you probably haven't even heard that, i'm just telling you now. this is perhaps -- because we're getting very big in space, both militarily and for other reasons. and we are seriously thinking of the space force. ashley: the young faces behind him going, okay. stuart: that was a shock to them all. they'd never heard about the space force before. [laughter] let me tell you, just a few minutes from now president trump meets with the national space council. they're going to talk about
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increasing the private sector's role in space. ashley: yeah. cutting the regulation to allow commercial companies to get more involved in space exploration. the president's, he's very interested in space. he's already had a couple of other directives, returning to the moon and human exploration, and cutting regulation is an important one. but the another part to in that we've been following on story, it's about the a amount of space junk. elizabeth: 170 million pieces estimated, and it dates back decades. russia's on in this too. inin other words, it's really hd to launch a satellite in the midst of all the space trash orbiting the planet. so news crossing, russia may develop a laser cannon to obliterate -- stuart: just coming in to us -- elizabeth: a laser cannon. stuart: the russians, you see, they're useful. [laughter] ashley: they don't mess about. stuart: one little piece of junk hits a satellite or --
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ashley: no soc stuart: that's right! no world cup. [laughter] we're not serious. we're just having a go at the producer. he doesn't like the world [laughter] the man who wro the i.g. report which essentially let the fbi leadership off the hook -- that's my opinion -- he's testifying this afternoon before congress. what will the judge say about that? we'll find out bec he's next. ♪ ♪ ♪
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stuart: i'm not going to say the markets coming back, but it is a little. we were down 260, now we're down 160. a trade war with china, that's at the bottom of this day's decline. the ten-year treasury yield, very little movement, 2.93% is where we are now. how about big tech? making a rebound of sorts after last week's selloff. facebook, 199, very chose to $200 a share now. amazon's up, apple's up, alphabet's up and microsoft at $100.85. all of them up. let's talk retail, specifically, the retail ice age which we've been covering for a very long time. our guest says we're actually in
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the midst of a retail rep sans. renaissance. ining us now is brett rose with united national consumer supplies organization. all right, btt, we've recovered this re-- covered this retail ice age, and we've seen lots of sectors in serious decline whether it's shopping malls or some department stores. you tell us, where is the renaissance? >> i think it's a seismic shift. the renaissance is, you know, for everybody that's opening -- for everybody that's closing, i'm sorry, there's two and a half stores opening. stores like macy's, your traditional big box department store in a mall have shifted. macy's alone is opening 100 new stores of their new concept called backstage. it's taken the traditional retail and more be offed into this off-price landscape which is a phenomenal time to be a consumer, because there's bargains to be had everywhere. stuart: so you're telling me that retail really had a hard time adjusting to online selling, but they have now adjusted, they're coming back
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with a slightly different form of retailing, and you say that is a success? >> i think they're still adjusting. of it's no different than when my eleven are y'alls became consumer -- millennials became the consumer. retailers had to adjust and change. those who didn't are no longer with us. those who are changing with the times -- target, wall mat, aldi, best buy, they're met more sizing into this experience. how do you compete with amazon? you have to create an experience, something that's going to draw the customers into the door very similar to home goods where it's the treasure hunt. stuart: i don't understand when you say it's an experience: in what way can walmart make my shopping trip an experience? how do you do that? >> well, there's two types of consumers. everybody's ultimately looking for the best deal, and even if you're not, even if you're not an online shopper, a lot of times you walk into the store, you've got your smartphone in your hands, so you can see what it's el ising -- it's selling
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for. your average walmart shopper may return once a month, your average home goods shopper is there four to five times a week. they want to feel the product, they want to try the headphones on, watch the tv, try the shirt on. that's one thing that amazon can't quite compete with yet. so the retailers that are changing are the ones who will ultimately be here at the end of the ice age. stuart: do you think that in some way this limits the growth of online selling, cuts amazon back a little maybe? >> no. i think you're going to see amazon really banging on the doors of some of these larger brick and mortars. whole foods, i think, just a glimpse to what they have in store. amazon's number one competitor is certainly walmart and jet, and the real big competitive advantage they have to amazon is they've got the doors. i think in order to sustain the growth, amazon's going to be going after some doors. stuart: would you tell me more about this treasure hunt? i like a bargain. tell me about it.
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[laughter] >> everybody -- i think my catch phrase has become it's chic to be cheap. years ago everybody used to talk about what they spent. now everybody talks about whatt. if i say, stuart, nice tie, the first line usually is, oh, i got it at ross, i got it at tj maxx. walk into one of those stores, and the footprint -- stuart: i'm sorry to tell you this, but i actually got this from fox because they dress us nicely at fox, and i kind of ke it. >> well, props to fox. they should shop off price. [laughter] stuart: that was good. good comeback there, young man. so you think -- >> i try. stuart: -- there's treasure hunts centered around bargains, that's a winner? >> absolutely. because why does a consumer need to come back? a consumer needs to come back a lot of times -- when you go to amazon you buy something you need or want to have, when you walk into brick and mortar, you buy what you needed, and then you get everything else. and that's the advantage.
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so the treasure hunt, you're walking around, you're looking around, and you're finding stuff that you didn't know you necessarily need but you have to have. stuart: interesting. brett, thanks very much for joining us, sir. yoan comeack anyti you like. >> thank you, and nice tie. stuart it's a fox tie, it's all right. [laughter] thank you, brett. >> take care. stuart: the inspector general and the head of the fbi, both of them, they're going to testify on capitol hill just a couple of hours from now. they're testifying about that i.g. report on hillary, comey, the fbi. judge napolitano -- who you may have heard jesting about my tie -- is back. >> is it a nice tie because it's colorful and it complements your clothing and your face? or because it was free? stuart: because it complements. do you got that? do you want to buy it off me? [laughter] >> sort of like selling a plane seat. stuart: now, this afternoon when mr. horowitz goes in front of congress -- >> at 2:00. not at 10 this morning, 2 this
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afternoon. stuart: what's the significance? >> a lot shorter time period for the interrogations. quite frankly, when i got up this morning, i was expecting to participating and commenting on it at 10. instead, they've scheduled it for 2. it's only going to go for three hours instead of the usual six, seven or eight. how many questions are are there? how many questions can they ask? are we going to get real questions? are republicans going to try and say the fbi was biased, democrats are going to say there's not enough evidence to prosecute hillary. each politician is going to draw his own inference from these 560 pages. stuart: okay. but the question has to be answered: how, mr. horowitz, could you possibly say there was no political bias when we've read these texts which, to me, clearly show political bias in. >> mark my word, mr. horowitz is a political survivor. he was appointed by president obama, confirmed by a senate run by the democrats.
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he was appointed by president bush -- in the reverse order, forgive me. confirmed by the senate, run by the republicans. he knows how to give the questioner the answer the questioner is expecting to hear but no more. stuart: well, i think he'll have a very hard time saying how strzok who said we're going to stop him, meaning the president, how on earth -- i think mr. horowitz has a very hard time saying how did you possibly infer there was no bias there? how would you do that? >> i don't know how he's going to answer that. one answer is, yeah, government is always -- the fbi's always biased against the people they're prosecuting. leave it to the courts and juries to be fair. the fbi has an animus against targets and subjects. that that's the way they've always been. j. edgar hoover famously hated communists and hated spies and hated mobsters and hated bank robbers, and he preached that to the fbi. least one versi he may give to justify this institutional bias against the
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target, even if the target happens to be the president of the united states. that is an argument. stuart: might he also say it was not my -- i could not signify what intent stzok had with that -- strzok had with that message. >> perhaps you'll have an opportunity, senator, to ask agent strzok himself what he meant by that, which would be shocking if an active duty fbi agent is permitted to testify about his involvement in a case. that i've never heard of. i've heard of retired agents, of course, and the director, of course. by the way, the director of the fbi is going to be seated next to mr. horowitz. 9. stuart: yep. >> as short as this is, cut it in half for horowitz, half for chris wray, the fbi director, half for horowitz, the inspector general. stuart: is that how they're going to do it? >> yes. by the way, mr. inspector general, that guy sittingext to you, did he keep any documents from you? i don't know if you'll hear anything that pointed, but i would ask it.
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stuart: you are hoping that some of the senators on the committee are watching you now and will pick up on that question and will ask it at 2:00 this afternoon. >> i i am hoping against hope that some of these politicians can miraculously become cross-examiners. stuart: don't be pejorative, say those good politicians -- [laughter] that's how youe got it. >> all right. by the way, i was not on set when the president of the the united states said some wonderful things about you. stuart: he did. >> i understand you repeated it a few times. stuart: many times, yes. [laughter] and we're not done with it yet. >> it is well deserved. stuart: i don't know abou that, but it was fun. thank you, judge, appreciate it. >> you're welcome. [laughter] stuart: i find this really interesting. police in germany actually arrested that man. that man is the ceo of audi, part of volkswagen. why was he arrested? because of his potential role in the diesel emissions scandal. prosecutors think that gentleman might suppress or tamper with evidence.
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they arrested him. ashley: wow. stuart: how about that? rent-a-center is a retailer, close to a two-year high. they're going to be taken private at $15 a share. it's a $1.3 billion deal. the stock up and getting close to $15 a share. facebook, very close to -- 200 a shower. that is an all -- a share. that is an all-time high. general electric, that stock's down. i don't think it's because they're cutting 1200 jobs in switzerland, i think it's just the jena laze of general -- genre malaise of general electric. that might stick. democrats heading to the border. congresswoman nancy pelosi leading the charge. democrats say president trump wants to break up migrant families. we'll discuss that and the photo op at the border coming upper for you. ♪ ♪ this is laura.
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>> i'm nicole petallides with yourx business brief. and google is making a big investment in jd.com. in fact, the investment is for $550 million in the chinese online site. now, also jd.com is the biggest rival to alibaba. google is doing this both -- by the way, both jd and google are trading to the upside as baba
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pulls back a bit. google bought about 27 million shares of baba at around 40.58 per share, and the deal helps google to expand in its online shopping platform n. the meantime, jd.com gets the opportunity to expand in the usa and also in europe. you can see alibaba had a nice run recently, is pulling back on this news. google also is just opening its third office in china. more "varney & company" right after this. ♪ ♪ greatness of an suv? is it to carry cargo... or to carry on a legacy? its show of strength... or its sign of intelligence? in crossing harsh terrain... or breaking new ground?
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stuart: house minority leader nancy peli and several other democrats go to the border today. they're calling on president trump, end the practice of separating migrant children from amilies when they come here illegally. president trump tweeted this: why don't the democrats give us the votes to fix the world's worst immigration laws? where's the outcry for the killings and crime being caused by gangs and thugs including ms-13 coming into our country illegally? joining us now is kristin gaspar, chair of the san diego county board of supervisors. kristin, i think the democrats have a point here on humanitarian grounds, and i think they will win on humanitarian grounds in just this narrow area of separating families. what say you? >> well, look, i'm a mother. nobody wants to see families separated at all. but i'm hoping when nancy pelosi is here in san diego, she can
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take a break from political grandstanding. i'mg she can see firsthand the problems with insecurities at the san diego border and across our entire country. the issues with criminals being released back out onto san diego's street, harming san diego families. the issue with the drug trafficking -- stuart: okay, who is going to go with speaker pelosi to the border and point out that conditions are, in fact, okay? is who's going to do that? >> look, i'm hoping -- i'll be nancy pelosi's tour guide. i will extend her stay, i will host her in my household if that's what it takes -- stuart: well, are you going to do this? look, i'm looking for some proaction here. all i hear is that she goes to the border, she passes judgment and walks away. i want somebody to go -- like you, for example. go down there, confront and challenge and say this is what's happening, and this is okay. you can't just come back and say, well, i'm hoping that she sees the light.
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>> well, look, it's the same thing that i've been talking about on this program several times. it's really challenging people when people want to deny the facts, want to deny the nbers. so perhaps this is a great idea. i'm happy to reach out to nancy and the other democrats that are coming here. thankfully, work downtown, i'm in a prominent building, and i could come out of that building and meet them and chat with them about these things because their eyes need to be opened to the situation at hand in san diego. stuart: okay. what is the situation in the those shelters in the san diego area where the parents and the children are split up, the kids go here, what's the situation in those shelters that they go to? >> well, first of all, primarily what we're talking about is in places like texas. in california we see a lot of work with our social workers, for example, when we're having to separate families for other issues other than illegal immigration across our borders. these children are well cared for. there's also the opportunity for them to be connected with other
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family members. we should be doing everything possible to make sure that that child is in the safety of a family member. so we need to arrive at a conclusion that these children need to be safe, they need to be well protected, but at time there is a surgeon degree of exploitation -- a certain degree of exploitation that's taking place across the borders, and that needs to be stopped too. we need to be sure that people understand that we to not want to separate families at all. that should not be the situation. stuart: kristin, look, we thank you very much for joining us. i hope you get in touch with ms. pelosi and, you know, tell them how it is from your side of the fence. we're very appreciative of you being with us today, kristin. >> it'sen an open invite. thank you. uart: now, touched on in this a little, democrats touring the detention centers holding the illegals. the special occasion? father's day. more "varney" after this. ♪ ♪ hi, i'm joan lunden with a place for mom,
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stuart: democrats have seized on the isf family separation at the border. here's democrat congresswoman
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sheila jackson lee while visiting a detention facility this weekend. roll that tape. >> there is absolutely no policy. his representation is a pat p tent untruth -- patent untruth, and out of politeness i am not using the stronger word. but he is not telling the truth. stuart: with us now, doug schoen, co-author of the book doug, welcome backo t show.p." >> thank you, stuart. stuart: on this issue of the separation of families, i think the democrats are winning. >> i think they are. when you have melania trump and laura bush both expressing reservations, i think there's a political problem. for the first time, stuart, for the republicans and the trump administration on immigration. stuart: however, i do believe that the president is right. if you want to really fix the overall problem, you probably won't agree with me, but i think you've got to build a wall, and you've certainly got to deter illegal entry into america, and you've got to change the whole
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system. and that's not going to happen overnight, but that is the answer to the question -- the problem. >> i agree partially with you, stuart. i'm for a compromise be that would build the wall before -- but also resolve the issue with the dreamers, with daca. stuart: absolutely. yes. >> and i think what is really sad, to me, is that the administration, the republicans and the democrats - let's be fair -- have both not come together on that issue. that's what's sad, to me. and from what i see now, there is no progress. stuart: i don't think the mocrats, i don't think they want to settle the issue because they're winning on the issue. they think it will help them in november. and, frankly, the bottom line to me is i don't think democrats really want to hold the flow at all, because it's a flow of democrats. and, look -- [laughter] you know it is, you know it is. look, if all those people coming into the country were to vote republican, the democrats would demand the wall. >> yeah. and what i see, stuart -- stuart: am i right? am i? >> in swing districts there's a
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lot of concern about immigration. the democrats would be well served to do a compromise. but unfortunately, as you and i have discussed, the left is in the ascendancy, and the far left as represented by she jackson lee wants to fight about the issue and doesn't want to do anything about it. that's my sense. stuart: you are the only democrat i've ever heard say, yeah, build a wall. >> but we also need to resolve daca, and i'd have a pathway to citizenship which most republicans wouldn't want. stuart: yep. >> but i figure both sides would get something in that deal and, most of all, the american people would benefit. stuart: i've got to tell you, i'm in favor of that. i agree entirely. i don't see how youan say 10 million people are here illegally, get rid of them all. i just can't see it because it's not gonna happen. >> right. and if you have a pathway to citizenship certainly for children who came from no fault problem of their own, to give them a path to citizenship, i think, is right, reasonable and responsible.
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stuart: of course, as soon as you say that there's a flood comes across the border -- >> well, but that's why you need a wall, that's why you need strong anti-immigration policies. illegal immigration. stuart: do you see any parallel between what happened in germany three years ago -- open the door, changes europe forever, that mass migration of migrants -- they let them all in. angela merkel did it, and now she's in deep trouble. it split europe completely. she may be out this week. do you see a parallel here? >> i do, but we're muc far along than the europeans. shefectively for i think largely historical reasons had a complete open borders policy. it's divided what has been called old and new europe. it is a calamity europe, and i think you're going to see the cdu and the csu fissure in germany, new elections in 90 days. it's all bad for our allies and ultimately bad for us, stuart. stuart: and what are we going to
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do in america if there's a similar mass migration, an army of people marches on the border from the south? what are we going to do? >> well, so far that hasn't happened, but that's why ink we need strict border enforcement policies and why i think the daca to wall compromise is really the only practical solution are. stuart: and yeah not -- and we're not going to get there. >> sadly, maybe after the election. stuart: doug, thank you very much for joining us. >> appreciate it. stuart: glad you make the occasional trip back to high-tax new york. we don't expect to see much of you in the future. >> i think you'll see me under 180 days. that of laugh. stuart: doug schoen, thank you, sir. there will be more "varney" after this. ♪ whoooo.
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stuart: one of the themes we follow on this program, is activity surrounding big tech. what i'm saying is, that the money has been flowing copiously into the five big tech stocks that you see on your screen, facebook, amazon, apple, alphabet, nike soft. apparently the flow of money has not stopped. have we record highs? liz: amazon is selling prime memberships bigger. they're making a big push in australia. facebook is setting aside all the discontent of privacy issues. facebook is still hitting new highs. stuart: that is a teflon stock. >> especially with the bigger market down 173 on the dow. it is resistant to what is going on. stuart: i would make a bet with any single viewer with an investment in the stock market has a piece of one of these companies.
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probably more. liz: you know why? what makes them plow ahead they do targeting advertising to you, me and aley. facebook and google can do that. their algorithms can change on a dime in a nanosecond. stuart: they're taking the world by storm that is the truth. time is up. neil, it is yours. neil: looking at the white house right now. this is fascinating confab. the president is having a meeting where he talks up private enterprise with the government to respond to all these countries taken on space initiatives on their own. you know on a cost per minute basis the chinese are dwarfing all others in space right now. they launched a rocket to go to the dark side of the moon. they have a very aggressive schedule. they want to eventually get with mars this is a group gathering at the white house consists of industry experts and number of astronauts. former astronaut buzz aldrin is

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