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tv   Varney Company  FOX Business  June 27, 2018 9:00am-11:59am EDT

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joining us. >> democrats waking up to a leadership fight in the house unexpected and watch immigration to see if they can do anything. >> trade fears eased because of a gentler approach. god news for the markets. markets came all the way back. have a great day everybody. "varney & company" begins right now. >> good morning everyone. we've got news on trade and we've got news on the market but we're going to start with blockbuster news on politics. upheaval in new york, the fourth ranking democrat in the house joe crowellly lost badly to a 28-year-old socialist. alexandria cortez wants to abolish i.c.e. and guaranteed income for all plus free college. she almost certainly wins in november. that will be a socialist in the house in november. the far left made big gains in yesterday voting democrats, though, are split. in contrast, the candidates who stood with trump won. the republican party moving
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forwards trump so democrats are more divided the gop is more unified behind the president. maybe this is helping the republican party, more ugly confrontation. this time it is protesters getting right in the face of elaine chao with her husband mitch mcconnell. this follows maxine waters continues to call to run the republicans out of public life. mean while here comes supreme court decision can unions force government workers to pay for political causes they do not support? that's the issue. whichever way it goes the impact is profound. stay there please we have big news on trade, maybe a soflter approach from the presidents and remarkable stock market turn arngd because of it. "varney & company" is about to begin.
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let's get at it announcement on trade the trump administration deded to rely on existing laws to restrict chinese investments here. it has also asked the commerce department to ask in expert controls. fox news columnist liz peek is here and by the way futures turned around after that trade report up we go to a positive 24. now look i'm characterizing this trade announcement as a solve sr approach where are you coming from? >> that's exactly what the market saw it breaks ice a little bit in negotiating now with the chinese. really at the last week has been ry worrisome to me and to a lot of people that the president was taking such a hardline against china. it was beginning to cast a fall over expansion plans by domestic companies other things that could begin to slow down the economy with don't want to see that that would be self-inflicted wound thing move allows the president much more
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flexibility and reviewing any kind of purchase of an american technology company by not just china by the way. but anybody out there that gives kids some wiggle room. i think it's a notice to the chinese that we're willing to negotiate. >> this -- announce this morning -- this deals with the theft of intellectual property it shall and the transfer of our technology there it does not duel with the trade deficit important export deficit. >> this is protecting industries that china very much is going after, and that we come to gnat things like artificial intelligence new energy cars thing of that sort and congress has been trying to get the president to rely on -- this existing agency multiagency organization to make that the governing body and not called out china there's no chinese language it's not mentioned in the thing. but basically it gives i think it gives administration a little weeing l room i think they needed it. because this trade spat with
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china was -- gaining momentum and not in a good way. >> later on more on this trade deal, it is not a trade deal but a trade move -- from the national economic counsel direcr that is larry kudlow making his first appearance on tv with us -- first appearance on tv period after his heart attack. he'll be with us this morning around 11:00 eastern time. all right let's get to politics and those primaries -- wow, what an upset in new york among the democrats. ten term incumbent joe crowellly beat bannedly by alexandria cortez a 28-year-old lath tay running first ever campaign she's an activist a member of the dmbt socialist of america. look what president trump tweeted about this. i'm,, quoting now big trump hatr joe crowellly who many expect to take nancy pelosi place just lost his primary election. and in other words, he's out. that is a big one that nobody saw happening perhaps he should
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have been nicer and more respectful to his president. that's donald trump. [laughter] joining us now r and c spokes western you have got to be happy i'll tell you why are. joe crowley is out could have charged nancy pelosi and won't charge nancy pelosi you still got nancy pelosi as your target. >> we are very happy -- nancy pelosi is the face of this party as we saw last night when you're with nancy pelosi, you will likely lose your seat. probably lose the general election as well for a lot of these democrats acros the country. but stuart you know this is stunning. the democratic party hidden agenda has been socialism ohm borders college for all and hidden agenda last night it was central rallying cry amazing they're so transparent in moltive to become europe to become a socialist country. >> that's the young lady in question 28-year-old latina and she -- but not that many votes were cast. i mean it was i thinkless than
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30,000 votes were cast. in that -- in that district yesterday -- that's not an overwhelming number that doesn't imply great interest but act vus on the ground. >> does imply activist we know this left link of the dmbt democratic party is motivated they showed off democrat did not show up and she wop. but you know how stunning stuart you said it in your monologue that, in fact, this is the first time we will have a self-socialist in congress. you know bernie tried to distance himself from that label a little bit tempering it democratic socialist but this man she's an outright socialist abolish i.c.e. that's stunning. >> former new york mayor reportedly or canning run for the president as a democrat. okay what's your reaction t that? >> that's incredible. he's not going to have much success. you be we just finished a story about socialism in democratic party and mike bloomberg someone
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who wants to raise tax on the middle-class he's said that he has written are it he wants to cutedare and he wants to cut caid and social security. these are not winning agenda items in a democratic party they're not winning on a national scale either. so you won't have much success of money g f it miket rin bloomberg. >> usually you're playing defense today you're on offense. kind of suits you. >> it does. it's a great thing to be able to play offense. [laughter] >> see you again soon thank you very much indeed. >> thank you, stuart i want to get to the supreme court because there's a big decision expected to come down today and decision made whether government workers can be forced to pay for the political -- for any political campaign that they don't support through union dues. liz peek still with us -- this is a huge deal. >> it is a huge deal because the only place in american life today where union control is still very strong is in the public employees sector, and what we see is blue state after
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blue state basically in fiscal difficulties because of overly generous contracts given t those public employee unions. fdr had it right with essential corruption in allowing public employees to unionize he opposed it completely right to do so because when you have basically -- democrat mainly -- officials rewarding the voters who are paid with employee due, it is really incredible recipe for disaster. i think this is a very important thing only affect it is 22 states because in 28 states we have right to work laws which do -- impact public employees. but most of the 22 are blue states i think this is big for them. >> but it is a huging blow to democrats to the left if you cut off some of their financial support with those two -- >> huge financial blow to unions because i think a lot of people are opght out and they don't are resources to do kind of things
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they do right now. it is huge. >> decision goes the other way it will be a boll shell and a half. let me deal request this quickly. show me price of oil please because i believe wre about 71 dollars a barrel n follows president trump getting tough on iraan oil. he says look any country that imports it risks sanctions. liz pique, this is a win for president trump because -- he's putting pressure on the the iranians as they have riots in tehran. >> their xea is in shambles any effort to cut down on oil exports is going to really hurt that economy even more. so yes, this is kind of the game plan on iran is to push the the local populous to point where they break with the regime and appears that is gaining some traction. >> look what we have here the video from tehran i believe that was monday -- day before yesterday -- big crowds demonstrating against the state of the economy. >> it is going to be hard persuade china given the current
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climate with regard to the trade. >> apparently one of the things we're talking to russia about is them cutting back production they don't want to do that because they need revenue this is a tough -- [laughter] >> can i just chime in here john bolton national security advisor is in moscow right now meeting with putin trying to set up a summit before trump -- >> may coincide with the finale of the world cup who knows. [laughter] >> ladies and gentlemen, we've got news for you on this tuesday morning. now it is wednesday i'm sorry. check futures still up a little bit. when we wokes morning arranged 3:00 we were down 200. now we're up about 20 check this please. boeing -- showing off a new concept supersonic jet could speed at rough 4 thousand miles an hour gets you from new york to london in two hours. now we'll tell you when and if you will be able to book a seat on this thing. >> lose your luggage twice as fast.
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r] >> big news from facebook giving up on plan to build a giant drone are to fly over reare mote quarters of the globe and beat internet into the ground they want to leave it to the experts in the aerospace industry. attention whiskey drinkers jack daniel is raise aring prices in europe and it says tariffs are to blame. we'll tell you how much of a bottle of jack will cost you, next time you're across the pond. moreics and then some senateority leader mitch mcconnell and lane ciao confronted by liberal protesters in d.c.. they were right in ciao's face wait until you where what ms. ciao's response you'll love it. back in a moment.
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americans traveling to europe raising price whysy prices there across the pond how much.
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jacking up jack, come on. 10% -- on a bottle -- now you know, so bottle is i don't know 30 now going to be -- 33. >> that aingt much. not a lotut it is in retaliation, of course, to the steel and aluminum tariffs they've already put florida oranges now they're getting into -- good old j daniels, tennessee -- >> it doeslow harley-davidson. >> of course. why bike prices will go up a couple of thousands but a lot more than just three euros for a bottle so yes. >> the tit for tat. >> cocktail is 5:15 instead of -- >> i ever drink one of those things. it will go up serious stuff now transportation secretary elaine cho tried to get between protesters and their husband who whats to be senate majority leader mitch mcconnell this was in d.c.. monday, roll that tape please.
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[inaudible conversations] back off. back off. leave my husband alone. i like that sentiment. john kennedy republican of louisiana joins us now. flat out senator that is disgusting what say you? >> well, the maxine waters robert de niro, whose vocabulary is limited but turnover is pretty terrific. peter fonda who wants to unlock the president's son a cage with pedophiles -- you know, somebody once said that life is hard but it is hard where you act stupid. i think, i think that wing of america, the maxine waters wing i think they're the only people in the milky way that think they're doing any good. >> that gives you a great target senator. >> i think american people see right through it and my redges stuart is that we -- we just ignore them.
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play against par. that's, you know, play against par and try to do what's best for themen people. >> may i ask what you would do. u're i a restaurant. eating with friends, family, whatever, and you're asked to leave what would you do? >> i would leave. i would ask why and then i would leave this is america, you have certain freedom, freedom of speech. but you're right to speak freely, doe necessa includeight to be taken seriously. >> well okay senator what would you do you're outside the toll building wherever you are, and get right in your face they're an inch from your face, and they're screaming at you. that's not freedom of speech that's -- what would you do? >> it is not, and if the freedom of speech bleeds into threats or violence, obviously, that's not acceptable. i have been protested before.
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i just generally try to ignore them. i don't think now it is hard sometimes. because the language that they use is vile and it's as a rule gar and it is crude. i was appalled at what robert de niro did. what ms. waters said but they don't represent america and i'll say it again i think they're only ones in milk write way that are being affected. >> senator i'm going to disagree with you on something. i understand that you're trying to reign in what you wasteful government spending to stop lawmakers from flying first class. i think they should fly first class. look you're a united states senator, a man to be respected, you have extraordinary power, i think you should be positioned willing to pay for it.and quite where am i going wrong? >> i will sending you my address and you can sending me a check because --
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because i'm not going to let the american taxpayer pay for it. i -- most of my career in louisiana in state government was spent fighting the waste of taxpayer money. and there's some instances you're sick, if youly do have a concern about security when maybe first class is appropriate. but in most cases, it's not. and my amendment to the appropriations b saysy simply you can fly first class but you have to get the inspector general of your department to sign off ont. there have been audits done where practice has been abused. >> senator i suspect that most peel in our audience will agree with you and i'll lose this one with bad ally but please come back to see us again soon. >> send me that check, man. [laughter] >> you take a check from me. absolutely stuart. [laughter] >> senator always a pleasure. thanks for being with us. we appreciate it. thank you. all right where's this market
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going to open? okay we're down 200 -- more than that. earlier today now we're going to go up 20 following some interesting news on trades. up 20 at the opening bell. a wild scene at the new york airport jetblue flightsed by police look at that they thought it was hijacked turneddous it was a big mistake. we'll explain after this. 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 only one way out. i could feel the barb wire was just digging into the paint. man: two bulls were fighting, (thud) bam hit the truck. try explaining that to your insurance company. woman: another ding, another scratch. it'll just be another chapter in the story. every scar tells a story, and you can tell a lot more stories when your truck is a chevy silverado.
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wwe that's the wrestling people, stark near a record high, why it signed a deal with usa network and fox sports for distribution of the fgship wrestling programs roar and smackdown look at that down 11%. ing are a bands buying $10 billion cash and stock conag are reddi-wip and a bunch more and duncan hines and bird's-eye can you imagine beingn this issue familiaring lights and s.w.a.t. team melt you on a swret blue flight landing at just about about to takeoff at jfk. look out the window that's what you see. well ash -- i'm told that the pilot reportedly entered the hijack alert by mistake. by mistake but here's the catch
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and what happened was plane radio system wasn't working. so there is a code that you punch in to let tourneau that your radio isn't working but, of course, he pushed the hijacker code so that tower gets hijacker code -- and tries to contact the plane but the the radio isn't working so they have to assume the worst. so next they think you know, full scale response port authority, firefighters, ambulances emergency services, k-9 units armed police that can't get on the plane it was all realized that it was a mistake but lane due to leave to l.a. at 7:30 left at 11:30 and cause delays because of that axon runway so that pilot is a little red faced this morning. >> what a story. check the markets to open shortly we're going to be up about 35 points now this is a real turnaround we were going to be down maybe couple hundred but then we got news on trade. and that turned things around the. full story coming up for you. stay there please. ♪
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>> we've got 30 seconds to the opening bell a little background here. we're all early risers on this program most of us get up three, 4:00, 5:00 in the morning when we woke up the dow was going to open down 200. plunging on more trade worries,
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then arranged 7:00 this morning we got news of a slightly softer approach from the trump administration to china, and other foreign countries these lead to trade. up goes the market and now we're opening and wednesday morning bang, 9:30 we're off, we're running and we are with going to go up at the opening bell not down. there we are, we're up 24, up 31 up 34 okay not a huge gain, obviously. but it is a gain -- >> 200 points dow. and 200 points well said ashley webster welcome back. 39 ponts. 41 higher any advance before i move up. that is .2% just about. how about the s&p 500 how have we opened up about a quarter percent. we're on upside there. the nasdaq where's that today? on theup side about a third of a percentage point tech doing well this morning and a price of oil i'll tell you with right now it is up 71 a barrel and white house says any country that imports iranian oil risks
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sanctions. that imposes a restriction on the supply of oil probably -- up it goes. look at facebook -- it is reversing its ban on some cryptocurrency ads. by the way, it is also given up on building internet drones. no impact on the stock, $200 a share. tesla investigators say a model s battery ignited twice after fatal florida wreck. more on that in a moment tesla stock down only a buck. well, well welcome back elizabeth mcdonnell with us this morning. ashley webster shah gilani and christian, i have to start with the white house trade announcement. shah they're using softer language than had been expected with a committee to decide on the export of technology, and the import of chinese money into technology companies. i'm trying to express it quickly it is a softer approach do you approve? >> absolutely. this is a better way to negotiate i think. obviously too hard core for the markets earlier so this is
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retraction oh and walking back of some harder policy and we see that in terms of the futures now down 200 and now we're up in the market today so that makes big difference. >> chris come into this do you think we should stop worrying about trade? >>ell, not if we get into a -- a kind of a tit for tat trade war over tweets or press releases but a process like this, i think the market is going to digest a lot more and i think that's why we're seeing this relief rally this morni. >> certainly a rebounding now-up 55 points so we dealt with the trade and stock let's move on to oil. very important story here. the white house says any country that imports iranian oil after november could be hit with sanctions. liz, this puts real pressure on the molars dsn't it? >> it does, and the last time that this was attempted it has half half of the oil supply was shut out from the market so there was a serious threat to iran the key
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is if other countries join u.s. they could do it arranged u.s. to keep that iran nuclear deal. so iran could still education fort to places in europe, and to china. >> but they're in no position to -- they're in very poor shape. dier straights in a severe recession for 20 years -- and this is the last time we saw street protest like this was under obama administration is trump administration going to step up to support them. we have to also acknowledge that the white house is setting up that summit with putin. they could ask putin russia, please up increase your oil production. >> good point johnball ton national security advisor is in moscow right now meeting with putin trying to set up a summit. >> ainistration is already out for middle east saudis pick up that extra ol production to make up for the loss of the iranian oil. >> 71 a barrel. as we speak and market rising now we're up 73 points on the dow. 24,350. now, i want to talk about interest rate without getting too technical. here's the situation.
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what you've got is -- long-term rates altering their relationship with short-term rates. they're pretty much even. to many people that is a sign of hereomes a recession 237. zsashah gilani you have a -- >> i'm not worried about it i think the economy is coming along beautifully and no chance of recession in the next year or two that's not good for banks that's the problem we're seeing right now when you have that flattening banks profitability goes down because of the spread they buy and borrow money cheaply and they want to lend it out at a higher interest rates if those rates don't provide them enough margin it is not good for their profit >> . >> bad banks. bad for banks. >> so we see the chance of recession in 60 years. you know, there's a lot of these formulas out there. >> get away with that with a british accent. [laughter] all right. all right where are we now? we are four and a half minutes into the session this wednesday morning and we are up 65 point. the yield on the ten year
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treasury 285 okay listen to this one conagr airings bappedz are paying $10.9 billion in cash and stock it is a huge conglomerate heavy house and a lot more. same story pretty much, they're brappedz include duncan hines bird's-eye both down sharply. lukewarm sales at the maker of cheerios that will be general mills down about 1%. sales no not sales down but sales falling short of what they were hoping for at sonic drive-in organization. at that 10% down. watch out for those -- hambur stocks. [laughter] facebook has scrapped its plan to bring everyone high speed internet through solar powered drones getting rid of that. i thought they were all about connecting whole world -- >> they're saying they're not going to build their own airport anymore but working with airbus. >> no impact on the bus.
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their first flight in june of 16 crashed. they've had problems ever since then so -- >> i like the idea. idea is brilliant but not capable of that kind of money on it. >> doesn't google have those balloons that they're working on to do exactly the same -- and down. teff stock and more on that one. it is reversing ban on some cryptocurrency ads. christian magoon you can count on -- okay. what do you make of this? i think stuart it is important they're getting back into the space it is a grow space. but what i leak about it is they're going to have scrutiny over what kind of ads they use and cryptocurrency to promote last year over 800 cryptocurrencies disappeared they're worthless there's zero so there needs to be more scrutiny here but i think sphook doing something responsible. they're getting back into allowing ads.
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but making sure these coins for example trade on exchange and have a real business underlying them. >> all right just barely above 6,000 per coin as of now bitcoin. >> a lot has to do with ico initial coin offerings and not going to advertise when that gets into regulatory area they don't want to be involved in. a lot goes belly up immediately. look at tesla please, investigators say that a model s battery ignited twice and this was after a fatal clash in florida. this is yet another headache for tesla, 344 a share. but the stock is up $ . another -- down in stock that's right. >> i have a lot of firemen in my family and talk about this all of the time here's how that tesla battery ignited after it was doused with water and foam, it ignited when fireman removing car from the crash scene and reignited again in the storage yard. this is how dangerous these lithium batteries are in solar
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panels so hard to put fires out. this is a serious issue for all electric car makers with lithium battery. >> i take it you wouldn't buy tesla ?ok >> i think battery forecast for them is great but this is a very heavy battery and it is highly flammable. >> okay got it. now go ahead christian. >> stuart i would add, you know, remember samsung had all of those issues with fires in their batteries. tesla vehicle has equivalent of 4500 smart phone batteries powering so this is something that needs to be addressed, and yes we're going to see more ttery powered vehicles in home storage, energy solutions w lithium-ion batteries so this is something we have to keep an eye on closely for sure. >> got it look at this boeing it is unveiled what's called a concept for a hypersonic 4,000 mile per hour jetliner capable of going from new york to london in two hours. you know, i mean inclined to suggest this could be rebirth of the concourse? >> what about g forces cuts from 7 hours to two hours that's
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mazing could be the reverse. they're worried about sonic boom in the noise from it. you know -- >> the technology is not concord throw back in the day, and you could tell you watch by it 9:30 everything used to rattle. bindt was loud. >> jfk over beaches to hang out in a sonic boom. >> beautiful to watch but not profitable for beauing front and won't be possible. >> i did fly cord a coupl times unbelievable. but concord was 50,000 feet. you could seat curvature of the earth when you looked out. >> 95,000 -- feet, christian what do you say? [laughter] >> i say let's do it. i love to talk the concord or this new superson ib jet from colorado to new york every week to be with you on set sounds like a great experience to me. >> with you all of the way. if you remember congress -- taxpayer qowld not pay for your place -- christian and shah gilani thanks for joining us good stuff today.
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check that big board we're now settled after ten minutes qort of business at about a 60 point gain for the dow industrials. coming up, on this program larry dlow president trump's tough economic advisor is first interview since suffering a minor heart attack last month. he joins us about 11:00 this morning we're talking about easing curbs or easing controls on investment in u.s. tech companies that's number one issue today. we're awaiting another big ruling from the supreme court at issue, can unions force government workers to pay for political causes they do not support. big deal -- big news on foreign policy, national secity advisor johnball ton meets with russia's putin paving away way for a big summit between the president, our president trump and vladimir himself. more varney after this.
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i have to tell you something incredible. capital one has partnered with hotels.com to give venture cardholders 10 miles on every dollar they spend at thousands of hotels. all you have to do is pay with this... at hotels.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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what's in your wallet? many 13 minutes in, 50 points high or for the dow, wwwe, the wrestling people that stock i do believet an all time high today nicxpin please. what's going on? >> this is incredible stock. so the big deal here is the show, these are the shows, smack down and raw, and they have a huge following particularly young men. and so now these shows belong to both comcast usa network and 21st century fox sports. and so with that -- fox actually muscles away smack down which is a great, great program and it has a huge following in late october you'll be able to see this when you look at the world wrestling chart unbelievable. it is 20 box this time last year. and fox needed some wrestling because they lost out ultimate fighting went over to disney.
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so this will give them more live programming don'ting for the they also got nfl for thursdays and see that in the fall as well so they're beefing up that liv programming. back to you. >> they are, stock is up too all right nicole that you think. apple may be lowering the price of the next iphone. not the 10 not the 7, the next iphone. all right emac how much? >> 899 less than a 1,000 price. sales are flat theastwo quar and -- they realize they got -- you know, raising prices you do bring in more revenue. but you know people are not upgrading to the iphone 10 as much, and so the sales have been -- have been flat. they realize they need to sell even more pnes. that's the way to go. >> not sure there's no name of it yet so we'll see that. we're coming right back actually with with that news. 899 your new phone. switching gears national security advisor john bolton to meet at the kremlin today looks
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like a runup to the summit doesn't it? steve hilton host on the fox news channel steve what's the significance if this takes place a summit trump are, putin -- >> it's going to send the left crazy, of course, because they still get over the idea that it was putin -- and his interference in the election in 2016 that put trump in the white house. putting that aside it has really important because russia, of course, is involved in so many of the big go political issues gong on whether that's north korea where their role has not been particularly positive or in the middle east again where their role is not positive so there's a lot to discuss and we really need a good relationship. and hasn't been a good relationship. and so summit might be tiebl improve it. >> president trump likes these personal one-on-one meetings he's met president shi, he's met kim junken and met some european leaders and met the saudi arabia he likes one-on-one personal
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diplomacy does it work? >> it is really interesting you watch how that's going. i think china is a good example to have that good relationship with president shi he talks about him very warmly and positively. he was doing that just yesterday in remarks that we saw from the cabinet room yesterday president trump was very warm about president xi but at the same time he prepares to take tough action. against china on trade, and on intellectual property and so on so hems able to balance a good prnl relationship with quite strong action that's what you need with putin. >> wrapped his arm with you and beats you up with the other hand. interesting situation here. [laughter] next one for you steve and you know more about this than i had über won that 15 month license to operate in london. they're on probation i got it. but the brits could not afford to kick them out completely could they? >> yeah. this was a really interesting story. there's no doubt that über had a
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culture that was pretty toxic and negative did did some things wrong that's all true and disclose my wife was a -- senior executive at über as well as facebook would declare that so i know a lot about what was going on but on the other side of the story this was a really political move by the london mass when they banned über. what he was really doing ing up to the taxi drivers union. what you really saw going on here was a classic story of the incumbent that was threatened by new entry using political protection to try to hang on to its business. and london didn't like it. they liked über and so what you have seen is über making some confessions to get this license back, but also a bit of a back down for london mayor as well. >> that they would have kicked über out of london they would have sent extraordinary sthal to other european cities love to do the same and it would send a message that london doesn't want to be a technology hub. they have to keep über.
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>> that's exactly right. it was such a shock when london has been promoting itself i was part of those effort the when i worked in the government we called it tech city we were trying to promote london as a hub for -- for new startups and that was going really well so this move by london mayor was a real are set back and a really bad message in terms of london future economy. >> so you are married to a senior executive at facebook, who was previously a senior executive at über may i conclude this interview steve by saying -- you married well. [laughter] by the way there's one more before that it was google i've got the full set -- [laughter] okay, steve you may or may not have been on this program -- [laughter] thank you steve you're all right. thank you very much indeed, sir. we're up almost 100 points look this 95 to be precise. 24,an if you with look at the dow, the majority of the dow 30 are in the green. they are up, the dow is up 92,
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243. a federal judge in california ordering border patrol to stop separating families at the border, and to reunite families already have been is gs to do it. judge nam tan know coming up on that, next. what about him?
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keep going up now we're up 143 points now this follows -- an a approach a slight fluly new approach on the issue of trade referring intellectual property theft and the forced attackover of technologyefring that to a committee as opposed to harsh emergency action. the market loves it. up 143. next case, the federal judge in california ordered a halt to most families separations at the border and the reunification of all families that already been separated. judge napolitano is here that sound to me like a rebuke to the trump administration. >> it is, this judge actually analyzed the president's ecutive order. and found -- loopholes you can drive a truck through. >> what executive order are you talking somebody >> executive order the president signed last week which orders reunification let me start with a baseline in my view -- and in this judge's view, the
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trumple administration misread federal law but statutes statutt each other and case laws that come from different generations they've misread it, to understand that they must separate children from the parents. judge started out with that fist of all you're wrong there's no requirement. secondly the separation can visit acute and long-term psychological damage on the children and you can't the do it unless you can show that the children are a dange to the parentsr participants are a danger to the children. unlikely but that would be a basis for the separation. thirdly, the executive order of the president signed and give him credit for signing responding to a public uproar -- you can drive a truck through some of the loopholes in this some of the discretion given to border patrol agents on the field on the ground -- first confronting a family of five, deciding whether parents
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go here, children go there rather than giving them that discretion, default position is they not be separated they would have to be a come peopling reason for separating them like a contagious disease on part of them or a history of the parents mistreating the children. >> but on the other hand, it's impossible to with a flood of people coming across the border like that. you want to give due process you want to -- families together. you've got to do all of that for thousands -- tens of thousands of people you can't do it. >> it is a monumental -- >> a deliberate swamp the system. >> yeah. so when the president says what do we do? and i said get more judges and -- responded to that. we're not talking federal judges qhor lifetime appointees by him confirmed by the senate who have months long fbi investigations who have month long investigation of their work. we're talking about administer
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law judges qhor who are lawyers trained in immigration law, taking an oath to be fair. forgetting about who their employers if they do wear black robes a hear these cases. they attack 25 to 45 minutes each. and you sit in a hut and hear one with after another the dell fault position is you're here lawfully and you stay with your family. the government must prove you're here fun lawfully or why family must be divided your testimony on both sides rule and the extent of the due process that's what the law requires. now to do this, and i'm going to ils because i got them yesterday you have to ship judges from north dakota and down to texas. j put job robe back on judge. [laughter] judge i have to run but i'm sure i'll see you later in the program because -- >> big supreme court decision coming in 7 minutes. >> you're reading my script. the supreme court decision next hour, the issue whether or not government workers can be forced
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to pay for political campaigns that don't support through union dues. big implications here,. we'll cover it, next. with tripadvisor, finding your perfect hotel at the lowest price... is as easy as dates, deals, done! . . to show you the lowest prices... so you can get the best deal on the right hotel for you. dates, deals, done! tripadvisor. visit tripadvisor.com
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stuart: coming up this hour a very important supreme court decision, you're going to see those interns running down those steps to get the news to the reporters outside, break that news and break it fast. we want to hear can government workers be compelled by union to give money to political causes they don't support. this is the janice case and has profound implications. if the court says no, janice cannot be forced to pay then government unions are facing a crisis. it will be a financial crisis. revenue from union dues will go down, they'll be financially strapped even more than they are now. furthee, almost all of the money the unions spent on politics goes to democrats. that money flow is reduced, the left takes a hit.
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now, if the decision goes the other way, that is the janice's of the world do have to pay, you're looking at a legal revolution. court would be saying you can compel financial support for political causes you don't like. big deal. stay there, please, the discussion is coming at the second hour of varney & company rolls on. ♪ ♪ stuart: i believe we've got decision, can i report this, yes, i can, the court has ruled in favor of mark janice. the court has ruled you cannot compel mark janice to compel political cause with his money that he doesn't support. ashley: did not want to support the union and did not want to pay the $45 that came out of check automatically every month
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and so he said, no, and there was a violation of first amendment rights based on the fact that that mon goes towards t legislative agenda and political causes of the union. stuart: got it. liz: this was first amendment case. janice said i have a right to withhold my dues from an organization that i don't politically agree with. for example, unions pay for government workers, use union dues to lobby for more taxes and more government spending and affects 5 million workers in 23 states. now the unions fought back and said, wait a second, we can now strike, if you don't let us have the dues to do collective bargaining and calm the waters, watch out. you could see public sector strikes. that's a possible fallout from this. stuart: joining us alan did he - dershowitz. would you break down the legality of this, please? >> this has been a conflict for
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many, many years. unions want to compel old members to pay dues that then can be used to further the interest of t unions and union members say, no, by the way, it doesn't only apply to unions, most dramatically to unions but corporations too. i'm a stock holder of a company and the ceo decides he wants to put advertisements in favor of this or that which i don't support, of course, there i have the option of selling my stock where as the union member particularly in union states doesn't have the option of quitting the union and expecting to stay in their job. so this has been a dramatic conflict over many, many years between the individual first amendment rights descending union members and the right of thion to do wh it thinks it's best for union members. the opinion will have broad
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implications beyond unions as well. stuart: professor, you couldn't see this going the other way. it was a 5 to 4 decision. how could it go the other way. how can you be compelled suppor financially a political cause that you do not believe inould it have possibly gone the other way? >> the argument on the other side would be that y n unions to stand up against the power of large companies and unions can't operate if members can pick and choose which -- when to pay dues and when not to pay dues. now, obviously, the result of this is going to be that unions will shift their due-paying mechanisms, they will say that the vast majority of dues are dedicated to paying for collective, et cetera, maybe they'll have a small little amount, a dollar, $2 where you can check a box and say whether you want to contribute or not because the principle is an
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important one, the principle that nobody should be compel today contribute to anyin they don't agree with. on the other hand, the practicallies that puts the thumb of government on the scale between unions and corporations. it's a complex case. i'm not surprised that it came out the way it date. stuart: professor dershowitz thank you very much for giving us analysis, high-end stuff, we appreciate it, professor. north dakota for senate candidate kevin cramer joins now. sir, you are running in a senate race in north dakota but i want ur comment on the supreme court decision which we've just had 5 to 4 decision supporting mark janice, he does not have to pay for political cause if he doesn't support. your comment, please. >> well, first of all, stuart, seems obvious to me but i'm grateful for the outcome. major victory for freedom of political expression in the country that stands for that.
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the fact that it was a 5-4 vote tells me how very important the united states senate is and how different this decision may have been had there been a merrick garland on the court instead of neil neil gorsuch. stuart: you're running in north dakota for the senate, are you 10% for president trump in. >> i'm a good 85, 90% with president trump, better than most and far better than democratic senator heidi keip. >> polls how me ahead slightly more than that. every poll that we have seen show me slightly ahead. stuart: i want to go to cristina, what more do you have cristina? >> the supreme court did
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reference the above case in 2016. the teachers union, lockdown 4 to 4 and passed back to lower court and referenced case quite a bit stating that the case wasn't justified, poorly reasoned, they said that if anything it's been known for years this case and lacked clarity. so they did say that case back in 2016 was not justified and not a good argument for today's case. they also said and argument for public unions is that you want to have those free riders, those who are benefiting from collective bargaining, you want those free riders to pay. in this reasoning right now, straight from the case is saying that the risk of free riders is not a compelling state of interest, it's generally -- it's insufficient argument to overcome first amendment objection. they also referenced towards the end, pretty much saying that the reasons they've come to this conclusion is the first amendment is violated when money is taken from nonconsenting
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employees, they're concluding if you're a public worker you do not want to join forces with worker, you do not have to. it is violating your fst amendment as an american citizen. concding today.re the reason why this case c forward, mark janice who will be on the show shortly, he objected to paying a 45-dollar u.s. fee per month towards union, he did not agree with. he found that there was political beliefs behind it and that's what you're seeing, violation of first amendment and that's why the rule today in favor -- stuart: thank you very much, indeed. >> thank you. stuart: kevin kramer running for senate in north dakota still with us, congressman, i believe that president trump will leave to north dakota to be with you tonight shortly. >> i intend to leave with him, stuart, on a plane this afternoon known as air force one. looking for the opportunity to have big rally in support of the president and in support of my
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candidacy but to talk to him about this issue and the importance of the united states supreme court and the importance of the united states senate in really what i think will become the greatest legacy if we can maintain or grow our majority into the secalf of hisfiterm. these issues like this veral oth this week that have been 5 to 4 demonstrate just how very, very important the united states senate is when we have a republican president because this is where we change americ for generations not just a year or two. stuart: congressman, we will be seeing you later. appreciate it. >> always a pleasure, thank you for the opportunity. stuart: professor dershowitz still with us. alan, welcome back again. i have one solid question for you, this ruling i suspect on the union dues, i suspect it would have been different if justice gorsuch was not on the court. >> well, we don't know for sure. merrick gashland -- garland was a centerist on dc circuit.
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he was a strong supporter of first amendment but this also shows and the congressman confirms that we are seeing supreme court politicized. we now have elections to determine who is going to be on the supreme court. the framers of constitution would be rolling over in their grave if they thought we were electing justices to the supreme court a that's essentially vote republicans and you'll get more gorsuchs, vote for democrats and you will get more mother lick --errick garland's. it may have been determined by 5 to 4 vote. that's not the way the people court should operate and now what we are seeing is conservatives becoming judicial activists. they want them to do many great things, help make programs of the republican party come to be. the years conservatives were advocating judicial restraint.
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nobody really passes the shoe on the other foot test, that was what was the shoe on the other foot. it's not a good situation when people are picking supreme court based not on the quality of their mind but rather on what they promised to vote for in terms of the outcome. stuart: professor dershowitz, thank you very much, indeed, we appreciate commentary on notice. joining us right now state policy network, here is a man who vigorously supported the janice decision is and very happy about the supreme court decision which has been handed down. vincent i'm looking at headline from the washington post, it says a major blow to organized labor. i take it you would agree with that? >> no, stuart, major blow to compelled speech but it is a
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great day for the first amendment and for public employees in the 22 nonright to work states where unions can get workers fired by not playing them. stuart: you're happy with this? what does it mean for mark janice, he doesn't have to pay anything, i guess, what a other workers? >> that's right. publicyees across the country now will have the choice of whether or not to pay a government union, those government unions can no longer force them to pay as a condition of employment. stuart: vincent, real fast, as i recall in wisconsin governor scott walker made this kind of change for government workers working for government in wisconsin. he said, you don't have to pay those union dues and a lot of government workers promptly quit paying especially teachers, is that what happened and do you expect that to happen elsewhere? >> wisconsin was a lot different. what governor walker did besides saying that the employees didn't
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have to pay, he passed union recertification so workers could have a vote at what unions represent them at workplace. he also said that unions can bargain over next to nothing, wages and limited that t inflation. all this is going is -- public employees have a choice over whether or not to pay that union and the government union can't get them fired for not paying them. stuart: hold on a second, i have a presidential tweet and it's about the supreme court. supreme court rules in for of nonunion workers who are now at -- as an example able to support a candidatefisr her choice without having those who control the union deciding for them. big loss for the democrats. liz: this could change political landscape. half of union workers are in california, new york, pennsylvania, illinois and ohio.
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those states don't have those right to work laws so those workers, government workers did have to pay the dues to the government unions now they do not have to according to ruling. stuart: that's a big deal. jack how is with me? if you don't want to pay the portion of your dues that goes toward campaigning you don't have to but the unions don't go out of their way to tell you that. you have to have letter, you have the right for government employees it's still not clear how easy that process will be. now the other thing is extending right to work legislation which you already in a couple of dozen other states and that's becoming the new federal rule, that's a massive change to the economy. stuart: wait a second, does the supreme court ruling imply an extension of a right to work rules to those state which is are currently -- liz: yes, it's not just for political activities, your dues split -- the decision did not narrowly focus on political
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activity that is you don't have to pay for that. it covers everything a union does for you including collective bargaining, anything a union does for you, if you pay the due for that, dues for that, that was considered a violation of your first amendment rights, you don't have to pay the fees in union dues right now. ashley: end of closed shops is that what we are saying. stuart: that rit? ashley: you cannot force someone to pay money into something they do not want to pay into. it's a first amendment right. liz: right. stuart: by the way, i don't think this had a direct impact on the stock market. it may be given it a little lift because when we got the news literally after 10:00 o'clock eastern time the dow was up 200 points, 190, now we are up 230 points. maybe give it a little help not sure about that. but we certainly have a rally in progress. we are up about 1%. now most of this rally is because we've got a softer ruling on trade. this morning it was announced
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from the white house that esntlly t flow of m into american technology companies from china would in future be controlled by a committee, no new special emergency regulations but a mmittee, the committee is in place and it is called the committee on foreign investment in the united states. that was a softer approach to trade. the market approves of it. now we are up 200 points. am i right in that that did help the market jack hough? >> i think so. businesses are flexible. they don't like tariffs but they can deal with them. what they really don't like is uncertainty if you have less of an ad hoc process and more of a following legislation. i think businesses are going to like that for investment planning. stuart: okay, is vincent still with us, please, yes, he is. >> i'm still with you, stuart. stuart: i'm not sure about this, but the ruling seems to imply the end to have closed shop,
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seems to imply that states which are not currently right to work will become right to work, no close shop, is that part of the ruling? >> that was actually the heart of the case. once again, we are talking about public employees only. but, yeah, mark janice and his attorneys from liberty justice center international right to work, their main argument which seems like the justices agree with was that everything government unions do is political and because it's political you can't force public employees to pay them. once again, i just glanced at the case, it looks like it's actually even bigger than that. one of the interesting things in the decision is that employees must now opt in to paying a union not be forced to opt out after they want to get their dues back. so it's not just the end of close shop, it's not just forcing public employees to pay, now it's also that unions have to go and get that affirmative consent,o this is actually even bigger than simply right to
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work. stuart: unions now have -- you as a worker, you to say i want into this union. liz: right, that's correct. stuart: you have to opt in. >> what this decisions says that everything a union does is political because government unions, workers, affect public spending, they can weigh in on the government pension investments, so it wasn't just a political slot of it, it was everything, everything a government union does is political bause the government worker affects taxpayers across the board. stuart: this is much much broad-base than i thought. far more reaching than i thought. you can't force somebody to support political cause. it's much more than that. liz: we know that -- go ahead. stuart: two other things. tend of the closed shop and number two u -- you the worker, i want into this union. >> was the big surprise.
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most observers of the court would think that the clerk would side with mark janice, everything the government doe is political but the fact that they're now even going further and saying, you have to opt-in to pay that union and you don't have to affirmatively jump through hoops to opt-out that's a big deal. stuart: vincent, that would be a catastrophe nor the unions, an awful lot of union people walked away from paying dues and being union members. this is a catastrophe. liz: national education association, biggest lobby for teacher forecasting more than 300,000 members, they've already -- over two 3-year -- 2-year period. this will change the political landscape across the board because we have seen, i have personally seen government union workers by the bus load being bust in to protest policies they
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don't like, even during their workday they have been doing that, again, this will change politically the landscape potentially in california, pennsylvania, new york and ohio. ashley: and to follow up with what lizzie was saying, the union contract negotiations over pa benefits per linked with broader political activity. liz: right. ashley: that's the crux right there. stuart: you heard what lizzie was saying, forecasting 300,000 fewer members, i put it to you, again, vincent, that's a catastrophe for government unions. >> if the unions are not representing members, if they're not taking their needs and wants into account, then, yeah, bad unions will see dropoff. now, if they are taking the needs of public employees and their members into account, that -- that drop may not be as precipitous but what we have seen is unions pushing the
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envelope and harassing members to stay in. in that case, yeah, like the teachers union, predicting 30% drop in its membership, they may have some issues. stuart: vincent, thank you for being with us on an important day, appreciate it. ing back to cristina right there at the supreme court. what's new from you, cristina in. >> i want to weigh in, you guys are talking about theuture and financial support of public union. you have the descending j kagen who did acknowledge that, she went onto further say that now these public unions will have to find new ways of managing their workforces, how are they going to get money going forward, they will try to convince people to join because you have to opt-in, if you look at statistics, 20% of public workers were represented by unions. right now that number has dropped by half to about 10.1%.
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so a huge drop, fewer and fewer people are joining the public unions. they are not dead, work a lot harder to get people to join. so we do have -- we are talking about the right to work. right now there's 28 states that say that in order public and private-sector unions are ban from collecting agency fees. that could change now, grow to much greater across the country, we have a statement from the right to work -- they issued press release, today's decision is a landmark victory for rights of public sector workers coast to coast that will free millions of teachers, police officers, firefighters and other public employees from mandatory union payments. again, this case was mark janice who said he didn't want to pay $45 a month which totals about $535 for the entire year towards a union that he felt was politically motivated. so this is just another way to add in that, yes, even a
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descending judge or justice agrees that they will lose huge portion of support and then you say what does it mean for democratics given that unions are strong supporters of their base and i guess you will talk about that right now. stuart: we have a statement from the dnc, today's decision is nothing more than blah tapat and disgraceful union busting that could slam door on millions of hard-working americans trying to make it into and stay in the middle class and this too one more, attacking unions is one of the most powerful tactics in the republican play book to enrich eilthy friends at the expense of working people. >> let me make this point. we have seen unions diminish the private sector because they have to turn profits and when times are good, the unions notte for great deals, the companies can't continue to pay when hard times hit. they have been force today negotiate lower.
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that doesn't happen in the public sector because the public sector doesn't have to turn a profit. i'm sorry, we have a public sector that has enormously expensive benefit's program pensions and that falls on taxpayers ultimately. i don't take their point that this is a such a disgraceful deal for the average voter out there. stuart, look, the level of pension payments negotiated by public sector workers in illinois, california, new jersey and new york and rhode island, absolutely crushing because of the unions. liz: 63,000 illinois state workers make 1k plus in pensions. one individual makes half a million dollars in an annual pension payout and what union workers often do is they double dip or if you're in education field you will retire and be consultant to one school district and take a job with another school district. so you get multiple levels of salary, multiple shots at a
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pension, watch what california is doing fg into budget bills, ability for unions to go full on recruiting. that's how california is trying to do end run preempting this decision. stuart: joining us now trey covak, with a name like that and an organization with a title like that i can see why you are smiling because this is a very far-reaching decision with profoundly positive effects for companies, corporations, capitalism, am i right? >> oh, this is a day for worker freedom, stu. i would like to rebut the democrats' statement, this decision has nothing to do with union busting. all this is doing is giving workers freedom to decide whether or not they want to pay dues. this doesn't infringe on workers' rights to unionize or collective bargain. stuart: but it will bust unions because members will retreat, they will wk away, they won't pay the dues, they won't join? >> well, that's up to union ifs
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they can provide value to workers, then people will stay. if not, certainly they'll leave. stuart: did you expect it to be as far-reaching as this? it's not just to say you can't force somebody to contribute to a political cause they don't believe in, it's far more than that, looks to me it's end of close shop and workers have to opt in to a union as opposed to being in the union when they are hired? >> yeah that was extremely surprising. there was a case working its way up to the supreme court that would have addressed the opt-in and opt-out issue and it was put on hold so clearly the supreme court justices had in in plan that is that case was unnecessary. stuart: lay it out out for us, what are the repercussions for private enterprise and for government of this ruling? >> well, i mean, i think you're going to see more operation in government, if more workers choose to opt out that will weaken the strength of public sector unions an less likely to have overvoted pensions deficits
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and, you know, ridiculous salaries. there's the story in a city outside of boston where police, lieutenants were paid near 4-- $400,000 for year. stuart: real crunch in california, new york, rhode island in particular, they have been crunched b extraordinary ivensionayments to retired workers. does this decision make a difference to the future of those states and how they fund and how they organize and bargain for pension benefits? >> well, that all depends on the elected officials in those states, if they are going to stand up for taxpayers or continue to give union giveaways. so that really depends on elected officials more so rather than this decision. stuart: let me turn to our
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company here because we are trying to catch our breath, 25 minutes ago that we got the decision and it is momentous in the extreme. ashley: the scope that's very teresting, it could behe end of closed shops and broad ruling that basically says you cannot force public workers to pay into something they don't agree with because it's linked to political activities, bottom line. liz: could lower political influence for government worker unions, 5 million workers affected here, 700,000 members over time. that's when illinois public policy institute, sweeping decision that affects very democrat states, california, pennsylvania, ohio, that this will affect those government workers in those states. i have to say it again, i am looking at right now, why illinois is in trouble, 63,000 public workers get a hundred thousand plus in annual pension payouts, one guy gets half a
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million dollars. there's tremendous government worker abuse of the public coffers. >> you have to think of the government worker who does need wages honorably decided upon. stuart: would you repeat the one statistic, liz, did they say today that they expecto lose 300,000 members? >> over a 2-year period. predicted that prior to the decision. ashley: if it's a great union, why are they losing employees that are going to be opting out? stuart: good question. ashley: if they are so great, wouldn't people want to pay? stuart it's about forcing a person into a union and paying dues to that union and putting them into the union. it's a 180. now they -- you have to opt-in.
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what a difference. liz: turned over the political landscape for these states. ashley: upside down.stuart: wels now national right to work foundation william, you worked for this, big smile, there it is we've had 25 minutes trying to digest this. far more far reaching than just stopping a worker from having to pay f political campaign they don't like, far more far reaching, spell it out for us, please. >> what the court held that it's unconstitutional under first amendment to force public worker to pay money to union without affirmative consent. as a result states like illinois and california can no longer force unconsenting workers to pay money to a union against their will. stuart: worker is hired and you can no longer automatically be part of the union, that hired
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worker now has to say, i want to be in the union. i want to pay the dues, that's it? >> exactly. stuart: is it also the end of the close shop, i guess it is? >> yes, in a sense that close shop as it has evolved forced employees to pay unions and fees and as a result now unconstitutional. stuart: i know you're a lawyer, would you speculate, what do you think would be the impact on public sector unions? >> remains to be seen. today's decision gave the workers right to choose whether or not they want to support a union and so it remains to be seen how exactly workers choose to exercise the right. stuart: i keep interrupting you, i'm very sorry, in wisconsin as i understand it, this happened in wisconsin a couple of years ago and a lot of public sector employees just walked away from that union. >> that's correct. it happened in wisconsin and some degree in michigan.
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what the impact will be in other states as i say remain to be seen. but the important thing is workers have the right to make that choice instead of being forced by the government to support a union whether they like it or not. stuart: now we have gone from tend of the close shop, we covered the idea that you have to opt-in, we also covered the idea that you can't be force today support a political campaign you don't believe in, what am i missing in this ruling, can you fill in something else? >> no, other than to make the connection between political campaign and the union. you know, one of the core parts of this decision is that a public-sector union is a political advocacy group. what it does lobby your petition the government and that's one of the main reasons it's unconstitutional to force emoyees to support union because it's special interest or advocacy group. workers now have a first amendment right to choose whether or not to support the advocacy. stuart: is this ruling primarily -- not primarily but the result of justice gorsuch being appointed to the supreme court?
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>> well, he did vote in favor of the first amendment and mr. janus in this case, that was one of the five votes. it's hard to say what the reality would be if justice gorsuch wasn't confirmed, if it was someone else, we hope that other justices wouldo agree. stuart: is there any way around this ruling? i know it's from the supreme the court and i know it's final, you can't contest, i've got that, can people on the ground, can the unions get around it in some way? >> all i can say that the union wills probably try. we are starting to see efforts in states by unions an politicians to try to undermine this ruling which they saw coming and encourage employees to support unions, mandatory union meetings that employees have to attend and not allowing employees to stop due ductions except for short window of periods each year so we are seeing some of that. a lot of work ahead to enforce this decision. but ultimately today is a big step forward for worker rights.
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stuart: counselor, thank you very much, indeed, i can see yore happy. i want to see a smile there as well. i've got the last ward to you, wrap it up, please. >> i think an education campaign is the biggest thing to do, there was a poll that came out that showed 57% of teachers had never heard about janus, workers need to know about found rights to be able to opt out of unions that they don't agree with. stuart: thank you very much for joining us, we appreciate it. liz: you know, there's a big sweeping implication from this that we have yet to talk about and that is the reason and jack has written about this, illinois is in junct status, payouts going forward off of scotus decision to have government workers in 401(k) plans not
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defined benefit plans, that could be another sweeping change that you could see coming off the decision. stuart: ebody else has 401(k)'s, why don't they? ashley: surprising number. we are expecting a drawdown of 2 and a half million barrels. more pressure on oil to move higher. it's already up more than 2% on concerns of iranian oil shortage. 72 bucks. stuart: let me recap this market, the oil market, yesterday we had news that president trump wants to stop oil export of iranian oil. you buy oil from iran and we sanction you, that put the price up. now we've got a whopping great big drawdown, that means we are using a lot of oil, we are reducing the supply. ashley: correct. stuart: evidently the demand is strong, up goes the price more. now $72 per barrel on oil. i will guaranty that the oil
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stocks are doing very well this morning. and so is the rest of the market. we are up 200 points. 24,500. wait a minute. i've got more breaking news. i've got to catch my breath here. here we go. breaking news. not related to supreme court, fox news' john roberts is reporting that the white house is expected to announce a date and location for theummit between trump and putin, that amownsment should come tomorrow. liz: wow. stuart: everybody catch breath here. this is important stuff. number one, we have the announcement on trade, our relationships in terms of getting money from china into american technology companies and our export of technology to china, that's going to be run by a committee. okay, that's a big deal. much softer approach to trade. that sent the market up. we also have the results of yesterday's voting primaries,
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28-year-old socialist has won an election in new york and will probably become the first overt socialist sitting in the congress in november. then we had the supreme court ruling which said no more close shops and if you're hired by a company or by theent, you to opt-in to the union and not out. very interesting. what else you have, liz? liz: now the news breaking that the white house will announce when the president will sit down with putin. watch the calendar here. the president will be going to the nato meeting in brussels july 11 through july 12th, then july 13 to visit with the queen and world cup final in russia july 15th. will the president go to the final ofhe world cup with putin? i was serious.
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ashley: could work out. stuart: we are fighting constantly of whether we cover the world cup. maybe the president will go to the final. we don't know. liz: that's the calendar. that is the calendar. stuart: okay, joining us now howard kurtz the man behind media buzz. we are trying to catch our breath here. really, can you believe this? i don't know whether you've seen initial reaction to the supreme court news in the media. i hope you have, tell us what are they saying. >> well, we are talking about the travel ban upholding the president's ban, i'm going to go on a limb, stuart, the press doesn't much like this decision. you go to the new york times homepage, the news story about the rule asking nowhere to be found, must be on some other page, two stories, sonia sotomayor decent over ruling. merrick garland never got a hearing and nile gorsuch went to
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high court that gave you the 5-4 decision upholding the travel ban. stuart: what do you make of the media' reaction of confrontation, public harassment that we have seen, what about that? >> you know, it's been so ugly and so vicious because i have spoken about sarah sanders being kicked out of restaurant i've had avalanche of online hate saying you know, they deserve, you're enabling nazis and that sort of thing. i've really been surprised because it seems like a no-brainer, name-brand commentators have gone on and defended the idea that, you know, white house press secretary should be denied servicese, you know, they don't like her or trump policies and also, you know, embracing what maxine waters is saying.
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it's very depressing to me. stuart:ly make another prediction about president trump and this what looks like a summit with vladimir putin. i'm pretty sure the media isgois getting close to putin because putin has got something on trump and trump wants to hide it. i know it's a conspiracy theory and i know i'm speculating wildly but i'm not too far off the mark, am i? >> we heard that there must be something there, he's so nice t russia and not particu nice to allies, obviously it will depend on what comes out of this meeting assuming that it does take place. if you used the summit with kim jong un as any guide, you know, the media always in favor of diplomacy and when he met with the north korean dictator, mostly got negative reviews, he gave up too much, what did he get in return, i think we will see a lot of skepticism if not outright negativity about a meeting with the russian leader.
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stuart: howard, you and i talked about this many, many times, in fact, every time we talked to each other on camera, my point is that the media has really disappointed that they've been unprofessional on coverage with president trump, would you agree with me? >> i would go a step further, stuart, overreaction, rhetoric that media is using about the president, whether press secretary being kicked out of restaurant or president's policy or the president's admittedly street-fighting style on twirt, i think they fall into the trap. i think that they make people who support this president or at least are open to supporting the president more likely to close ranks around him because of the over the top let's go out and harass everybody mentality that we see in elements of the mainstream media. stuart: thank you, sir. major supreme court decision on union dues and a lot more, actually, we are awaiting jacker
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-- mark janus, the man who started it all. larry kudlow, he's coming up right at the top of the hour. we've got a lot to cover and we are here to cover it. we will be back. copd makes it hard to breathe. so to breathe better, i go with anoro. ♪ go your own way copd tries to say, "go this way." i say, "i'll go my own way, with anoro." ♪ go your own way once-daily anoro contains two medicines called bronchodilators that work together to significantly improve lung function all day and all night. anoro is not for asthma. it contains a type of medicine that increases risk of death in people with asthma. the risk is unknown in copd. ano n't place rescue inhalers for sudden symptoms and should not be used more than once a day. tell your ctoryou havert condition, high blood pressure, glaucoma, prostate, bladder, or urinary problems.
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these may worsen with anoro. call your doctor if you have worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain while taking anoro. ask your doctor about anoro. ♪ go your own way get your first prescription free at anoro.com. ashley: senator john kennedy did not menace words while discussing vitriol and
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harassment from the left towards president trump and his supporters. ♪ >> the maxine waters, roberte niro w vocabulary is limited but the turnover is pretty terrific, peter fonda who wants mock the president's son in the cage with pedophiles, you know, somebody once said that life is hard but it's harder when you act stupid, i think that wing of america maxine waters' wing, the only people in the mky way that think they a doing any good. ♪s ♪ ♪
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plus, just like your homes value can increase over time, so do the available funds to borrow in you line of credit. thanks to a reverse mortgage you don't need to sell. but you do need to call one reverse mortgage today. stuart: when you have a series of developments in space of 30 minutes, it would be nice to sit down and organize thoughts, joining us house is martha mccallum on the air tonight at 7:00 o'clock, she will take it nice and easy for next few hours. >> yeah right. except the next 40 things that happen between now and 7: o'clock. the president will be in north dakota tonight as well. so, yeah, i mean, it's a -- stuart: he'll be making the
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speech right before he goes -- you go on air. >> suggestion that looks fairly solid at this point that there will be a summit between the united states and russi you know, it's very interesting to me thinking back to g7 and the proclamation that the president made there that he felt it would be a good idea if russia was included. i think these things are not disconnected. that was an alive branch. we know the president has been tough on russia but this is will be fascinating. he's also a president that wants to get for in the room with these people like kim jong un, i think he's wanted this moment for a long time, the opportunity to go -- stuart: mark janus, plaintiff in the case is speaking now. listen. >> we now have 5 million public sector union members, nonunion member that is can make their own choice as to whether they want to be part of the union. it will not affect the collective bargaining.
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unns will have the continued right, the worker has the ability to make his or hen decision and that's why i brought this case. it's up to the worker t decide what they want for themselves not some other larger entity and it's not anything unusual than what we do in daily lives as we go about daily lives and that's what's so important and that's what the basis of this whole case is about. thank you very much. >> questions? questions from the media. stuart: janus, the guy who brought the case to supreme court, will join us shortly as soon as he can move to another camera, another location, we will have him on the air momentarily, listening to all of this martha mccallum i don't i t know how you rank the order stories, janus decision, president and putin getting together. >> this is enormous. just think about the structure of public sector unions in the
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first place. you have government entities that are supported by the taxpayers and then you have got public sector union that's collectively bargaining against the government on behalf of government employees, raising funds, using pressure of collective capability to increase pension funds, raise hourly wages, to do all of these things, it's phenomenally questionable in many ways. now you've got the entities saying, we don't like -- they are taking government money,rnmg involved in politics in the way that we don't agree with. stuart: this ruling goes much, much further. >> absolutely. stuart: it's not just that you can no longer make a person pay towards a political cause they don't believe in. it's more than that, it's the end of close shop. you can no longer compel someone and make a condition of working that you join the union. the close shop is gone. if you're hired by the government or private enterprise in the future, you have to opt
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into the union and you can't say you are in like it or leave it, you can't, it's a revolution. >> absolutely is. raises the question, private sector unions have been under tremendous pressure. public-sector unions, i think it puts into question their future in a very big way.strt: you remt ppened in wisconsin -- in wisconsin public sector workers because of orders of governor scott, were no longer, didn't have to pay union dues and they promptly stopped paying union dues and the teachers union shranked by 30% very quickly. you can have that happening. you have the teachers union people, they forecast before the decision came down if it's a ruling in favor of mark janus they will lose 300,000 members in a year. big deal. >> huge deal. it raises -- questions has been raised about their influence and
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force people to be part of them and peoe to sign onto agenda. stuart: let me show you the nea statement, it is shameful that billionaire ceo of corporate interests have succeeded in ma nip initiating the highest court in the land to do their bidding, wait, there's more, this case was a blatant political attack to further rig our e a democracy against everyday americans in favor of the wealthy and powerful. strong stuff, martha. >> how is mark janus an everyday american and doesn't like 500 bucks being taken ery year? why don't you come on the show tonight? [laughter] >> exactly. stuart: do i envy you, you got the chance to organize your thoughts and work out the implications of these dramatic
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news developments of the day. i'm going to be interested to see how you rank it. the putin-trump potential. >> the trump-it, i think he would like that. [laughter] stuart: very sorry, mr. president. liz: putin summit. stuart: i've got that. liz: north dakota. stuart: north dakota speech tonight. >> 7:30, 8:00 o'clock. we will have half hour, 45 minutes and then start time is unpredictable as well. not to mention all of the questions about civility which i know you've been talking about quite a bit with continuing to rear their view. you look at the election today, overthrowing of joe crowely but this young woman who was a waitress not less than a year ago. she's a socialist. that's how it goes. stuart: in november of this year you will have avowed stated
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socialist sitting in the house of representatives in the united states of america, how about that? >> she went for bernie sanders. stuart: i will be watching tonight. >> good. stuart: what's the top story and second and what's your third and fourth and then go to the president. >> we will let you know how it shakes out. thank you, stuart. good to see you. [laughter] stuart: let me take you to the stock market for a second. we were down about 3 or 4:00 o'clock this morning, you look at future's market, you can tell how the dow is likely to open. the mood, that's right. we were down 200. now we are up 260 points. what happened? mainly it was the new approach to trade taken by president trump. we are going to have more of that in a second. bottom line is a committee and that committee is called, if i can find it, committee on foreign investment in the united states. that committee will handle the inflow of money from china to american technology corporations
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and the outflow of our technology to china. a committee, established committee will deal with it. not new special emergency regulation from the president, not that, a committee will deal with it. that's considered a softer approach, investors like it. the dow is up 256. would you like to comment on the stock market, martha? [laughter] stuart: i'm out of great. -- breath. you don't have to. >> it's interesting what's going on with trade stories, harley davidson, is the president going to go after them in later week. very quick on their part to make the jump and i would not be surprised if they end up changing the decision. stuart: may i add another story? >> please. stuart: jack daniel's, they will put up the price of bottle of jack in europe by about 10% because of the tariffs.
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somewhat similar to harley davidson. >> another company, i was talking to senator lindsey graham, a uk company considering moving steel operations into the united states, reopening a plant that hay had in south carolina to offset the opposite tariffs. you may see some of that as well. stuart: i do now have mark janus and lawyer jacob hubert with us now right outside of supreme court. bigger victory than you requester expecting, i suspect? >> we were hoping that it would go to our direction, now that it has it's been a very enjoyable decision. i'm just ecstatic and fantastically excited about it because we now have 5 million workers, government public sector workers who can make their own choice that they had not been previously been able to do. stuarti uerstand
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much broader ruling than we were expecting, the end oflose shop and if you're a worker hired by the government or private enterprise, you have to opt into the union as opposed to being forced to opt out, much broader ruling. >> we were just in the courtroom, so i can't get into details but absolutely it sounded like the rulin gives us everything we asked for. it says that government workers have the right to choose whether they are going to give any money to a public sector union. stuart: now i've seen some response to this ruling which says you're just a tool of the billionaires and the wealthy and that you're simply exploiting the situation and that you the rich funded this movement, mark gentleman news, -- mark janus will you comment on that. >> it's just a ploy that the unions have made to try to make their case which obviously today
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they didn't because of the ruling we just received. stuart: to you, is this about dualorker freedom or something broader than that? >> oh, i think it gives the individual worker in a public sector entity the right to make their own decision and that's the basis for my case. that's what i've wanted all along. i don't want to be forced to pay something somebody just to hold a government job. i want to make my own decision and i shouldn't have to pay a fee just to do something that i like to do and that i enjoy to do. stuart: mark, there are now forecasts that government employees will leave the union on mass. we've got the nea suggesting that over the next couple of years they'll lose 300,000 members, many of them teachers, your response to that? >> well, you know, i can't really respond because it's still kind of up in their, i think, a lit bit. we will have to wait and see how things develop out in the near
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future. >> it's up to them, they decide howise freedom. stuart: where do we go from here, mr. huebert? >> making sure that every state and every union respect workers first amendment right to decide whether they are going to fund a union, unions,f course, are going to resist this as much as possible and they probably have some friends in some state government who is will help them but we will make sure that every worker is able to exercise that right to . stuart: mr. janus, mr. hubert, thank you for joining us on this great day for you guys and appreciate you being with us. gentlemen, good stuff. lizzie? to his final point, an important one, that is happenin now. in other words, states are moving to keep the muscle in the unions. california's governor jerry brown just signed off on legislation that says unions can basically have more time to recruit more government workers than they had before.
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in other words, unrestricted time in recruiting government workers to be in a government union. that's how they're try doing an end run in anticipation of the supreme court ruling. >> doesn't mean they will get more members, they w try but it's no guarantee. stuart: they have to opt-in. >> persuaded now. >> that's correct. stuart: to me, this is a serious blow to organized labor. across the board. no more close shop, you optin rather than having to opt out. >> it could change the political landscape in democrat-led states, like california, illinois, pennsylvania, new york, and ohio. we don't know. stuart: big news on trade this morning. and investors obviously love it. look at this. we're up 248 points as we speak. 24,530. a softer approach from the president when it comes to china investing in u.s. tech companies. the trump administration deciding to rely on existing laws and existing committee to
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restrict chinese investment here. that is a shift from enforcement of brand new restrictions. the administration also asks the commerce department to examine export controls as well. the market turned around as soon as that news broke, just after 7:00 easternhis morning. leoss turned into a triple-digit rally. in a moment. top trump economic adviser larry kudlow will speak to us on this program. here we go. third hour of "varney" off and running. . stuart: i promised you larry kudlow and i am going to deliver. i know for a fact, i can see the monitor, he is being mic'ed up as we speak. remember, larry was sidelined with a minor heart attack a couple of weeks ago i think it was. this will be his first interview on television since
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his recovery from th minor heart attack. go through the markets for you. the dow is up, left-hand side of the screen, up 1% as we speak. 230-point gain. a complete reversal from where we were earlier this morning. the price of crude oil reaching $72 a barrel. two items of interest there. number one, the president wants no more iranian oil exports. he wants to put sanctions on anybody buying iranian oil. number two, we got nine million barrels of oil taken out of storage. in other words, we're using a lot of oil in this country. demand very strong, therefore, the price going up to 72. >> yeah, this is -- larry kudlow interview is going to be really key because the president and the white house is moving on protecting intellectual property with china. parate from, that the trade tumult still continues. the dow broke below 200-day moving average support levels. caterpillar is in correction territory.
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so there's two separate threads here with the trade fight going on with the white house and china. >> which is a good question for larry kudlow. is there a softer approach. stuart: still waiting for larry to get mic'ed up. first, john bolton is in moscow right now speaking to president putin. we are expecting an announcement tomorrow about a trump-putin summit, which may take place in the middle of july. the announcement formally comes tomorrow. he's going to nato july11th. he's going to london july 13th. then he goes to russia, and by the way, the final of the world cup, we don't know who's in it, but it will be played on july 15th. is it possible that president trump will go to the world cup final? this is my way of getting the world cup through the back door there. and not suggesting the
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president will attend the final. pure speculation on my part. >> what a world stage that would be. stuart: dramatic news from voting yesterday specifically in new york. joewley had been in congress for 10 terms, i think it is. best part of a generation, he lost. a democrat. he lost. the fourth ranking democrat in the house. he lost. o beahim? a 28-year-old latina for public office and avowed socialist. larry kudlow has the mic on. are there you? >> rain, rain, every time i do fox, it rains. stuart: first of all, i hope you're well, larry. i hope you're fully recovered. >> thank you, stu. i feel great, great to be back. to quote one of my heroes mark twain, rumors of my demise were greatly exaggerated. stuart: very glad to hear it
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larry kudlow. let's get to it. the approach to trade, i'm characterizing this morning has more relaxed. a little softer. because we're going to a committee to decide on chinese money coming to american technology companies. american technology going to china. we're going too to a committee, arapoach. is the president retreating at all? >> no, no he's not. and, you know, the idea of softer or harder is really beside the point. i mean, i guess that's a media lexicon. but, look, that's not the intent, we're not driving there. what you've got here is i call it cfius plus. the committee on foreign investment around since 1975. it's pouring out here. we're going to bring in reenforcement. but look, this is an updated modernized version, very comprehensive, very effective. it's called firma. passed the house 400-2.
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it was voted unanimously out of the senate banking committee. the senate endorsed that bill. it's an updated modernized version of cfius. not meant to be harder or softer. it's going to be very comprehensive and very effective at protecting our technological family jewels in the united states. that's the intent here. and let me just add, quickly. the markets and the business world lived with cfius for over 40 years, okay? with this update in modernization, we will still have a freend open investment system, which has been crucial to america's fabulous prperity down through the years. none of that is going change, but we must be on guard in the modern world, there are bad actors out there. no question about it, but we can live with, this not clamping down, not ending in foreign investment in the u this is updating and
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modernization of cfius. stuart: that's dealing with that side of the trade dispute about the theft of intellectual propertynd t port of american technology. that deals with that side of the deal. the other side is the tariffs which are still imposed by all sides. no change there, i take it. >> look, the president said what he said, interestingly, you know, i was with him at the g7 meeting north of quebec and he basically said this, i want to remind people of this, i think this has gone the lost in the reporters. he is a free trader, and he would like to see a new world trading system. current one is broken. he'd like to see no tariffs, no nontariff barriers. no subsidies. and we are open for that discussion. i was with him, stu, in bilateral meetings with canadian prime minister trudeau
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and french president macron and the president said this very, very clearly. we're willing to talk about that any place any, time. stuart: but that seems so far away. i mean, that kind of radical shift is surely not on the cards in the immediate future, and you don't yet have any agreement from any of our trading partners towards that end at all? >> that is true at t moment. though communications are open and i think some progress is being made. look, president trump is a ade reformer, okay? don't blame him for all the evils and the breakdown of the wto and other trading systems, protectionist walls and barriers. he's trying to solve that. he's trying to end. that he is a reformer, and i think that's an important point. now look, with respect to china. let me say this. the preside proffered the possibilityf $200 billion more in tariffs. it's not implemented, not executed, not flushed out.
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but he made that as a warning because we have not had satisfactory response from china. by the way, not had satisfactory responses from the eu or canada or mexico. but the chinese have not yet responded, okay? we will wait and see. i may be too optimistic but at back with their own new set of tariffs. so, stu varney, it may be they are thinking this through, that they heard the president in quebec and may be rethinking their position, and lord knows the united states, president trump is open. we are open to have this discussion. stuart: are we in a strong position vis-a-vis china? our economy doing very well indeed. i don't know, yto use the word bully, do they have more to lose? >> the first point is the crucial point. usa is growing rapidly. the tax cuts, the deregulation
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rollback, the trade reforms, other matters. we are growing and the atlanta federal reserve is suggesting we may get near 5% growth in the second quarter. i'd be thrilled with 3+ but that's their estimate. our program of economic growth, wages, jobs, unemployment is working, it's kicking in even faster than anyone dreamed possible, in a year or year and a half everyone said it wouldn't work, it is working. that's the key point. that gives us the strength. china's economy is not doing well, they are slowing down by ma, many measures. half of that economy is state run enterprises that are losing moneydaily. half of that economy is financed b state run banks who are issuing couple of trillion dollars of nonperforming loans? that's a business and economic model which is not durable. from a greater positiof rating
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aknessnd we are operating om a greater position of economic strength. stuart: let's suppose i am an american technology company and want to do a joint venture in china and i say to the government i want to do this joint venture with china. is this committee on foreign investment in the united states, is that committee able to say no, you cannot met investment because thawould be amount to the forced export of technology. that cmittee say no? >> i don't want to get into details like that. i'm not a trade lawyer, stu. i'm not dodging you. these are ques bu let me say this. with respect to the joint ventures of american companies operating in china, one of the key problems down through the years is ownership. chinese government will not permit the american firm to own a majority of the company. the limited usa ownership is
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49%, that gives china the authority and the power since they would be 51% or more. that giv them to put our blueprint on the table, including technology, that is where the forced transfer occurs, and that's not so much an export as it is a bad policy that permits theft of technology. theft of intellectual property. that's one of the key points that china has to change. you know, we have talked about this. i was in beijing with our group. i met with china when they came to washington, et cetera. wilbur ross has been there since then. china talked to us about reforming the ownership issue. if they do, that will go aways towards solving a major problem of theorced transfer of technology. our family jewels. but they haven't acted, stu. we're waiting for them to take action on a key point. you put your finger on it.
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i don't think cfius or faria, that is china's poor policies of stealing technology. that needs to be changed. stuart: larry, there are reports you are interviewing a deputy. is it possible that you're interviewing a replacement for yourself? [laughter] >> stu, i'll go back toark twain -- [laughter] >> look, you know, attrition happens after a year and a half on the job. nec's at the center of all the action regarding the economy domestically and internationally. we work with john bolton of the nsc. amount of attrition. i've had a great staff. there are two deputy positions open. international deputy position, economic domestic deputy position. we have a short list, there is a lot of talent out there blessedly that would like to come work for me and work for
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president trump, and we b making the decisions on personnel very soon, frankly. very soon. stuart: so the answer to the question is no, i'm not leaving, i am ind intervieng a deputy and that's it. >> unless you're sending me a message. the deputies, as i understand these flow charts. the deputies are going to report to me. that's so far as i know, and ultimately they report to president trump, whom you know in this administration, is the key decision-maker. stuart: i just want to say, larry, great to see you in such great form. you haven't lost your talent for ad-libbing in front of the camera. you improved on it. >> they gave me a couple of new spark plugs, stu. i'm going to be more dangerous coming on today. stuart: don't know how you do it. larry kudlow, thank you very much, sir, see you soon. >> thanks. stuart: any response from our esteemed panel? >> he laid it out there. >> he was in fine form. stuart: he was.
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i was intrigued he said the ball is in china's court. waiting for a response from china. to impose not to mention the ng joint venture thing wit committee. the ball's in china's court. >> not imposed yet, they are futative. and haven't heard back finally what china is going to offer or from the eu. resetting the table and the perspective there. stuart: i did notice during the interview, the market went down a little bit. hope i didn't do that. 174+ at the moment. we were plus 210, 220 when the interview started. that's the state of affairs. more on china and the relationship with china. the house committee is holding a hearing on zte, that's the chinese phone maker. we've had a dispute with them. susan li is with us. can you bring us up to speed on the dispute this morning? >> this is a congressional hearing on the effect of zte on u.s. small business.
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it's a broader look at the national security threat that zte poses. this is after the senate reimposed its ban on zte. this is part of that national defense authorization act, the spending act that went against what the u.s. president, en want w congress have to recon the differences how they voted, right? that includes whether or not to include the reinstatement of ban on zte accessing u.s. equipment which has essentially brought the company to its knees. stuart: that's right. >> president trump is not happy with this. met with republicans, congressional leaders, he said this is his prerogative. part of a broader negotiating strategy. geopolitical negotiating strategy and the trump administration yesterday says they do not want this as part of the national defense spending bill. stuart: okay. that's parliamentary maneuvering here. >> yes. last night a letter came out from senator warren and marco rubio on intelligence
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committees, they want the u.s. president, i want to quote this properly here. urging the u.s. president to reinstate the zte bann national security. stuart: congress wants to ban zte and sink it on national security grounds. reporter: the senate does. stuart: the president wants to keep it going as a bargaining chip. >> as a bargaining chip. some say it's a favor to chinese president xi ing. they employ 80,000 people in china. a fifth owned by the chinese government. stuart: susan li. thank you very much. all right now, this. the split within the democrat party is widening. the republican party is solidifying behind donald trump. that's the takeaway from yesterday's voting. start with the democrat debacle as i call it in new york. alexandria cortez is an avowed socialist. the man she beat was in for a generation and considered a
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likely successor to nancy pelosi and likely the next speaker. she won on a radical platform. she's called for the abolition of the immigration and customs enforcement agency otherwise known as i.c.e. that's truly open borders, isn't it? and also wants medicare for all. she demands medicare for all. socialists make demands, they don't ask. no word how to pay for it but tax the rich is surely the main arrow in her financial quiver. what does this mean for democrats? a sharp left turn. other far-left candidates did very well, not just acauseio cortez. the democrats are split with only the hatred of the president to unite them. among republicans, a definitive move towards president trump. candidates he backed won. even mitt romney pledged to try to work with him. over four months to the election, and look what's happening. the extreme harassment of public officials continues after maxine waters demands
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more confrontation. i think the democrats lose on this one. nancy pelosi still leads the badly divided party. she's a favorite republican target. and as the is pile up o letting themll in. i think that is another losing democrat issue. it's a different story on the other side of the aisle. the republicans can above the a booming economy and a president who is doing exactly what he said he would do. what was that about a blue wave? let's get reaction to my editorial from congressman tom reed, republican from new york. congressman, i'm feeding you good stuff here, you know it. i'm feeding it to you. the left totally divided. make your comment. >> stuart, thank you, and exactly what you stated. what happened last night i believe in new york is an example of extremism taking over the democratic party, and that is not good for the american people. what we need are governing members. people who want to legislate for the american people. that's what we're leading in
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our caucus group, working across the aisle to solve problems for the people back home. extremism is not good for the future of the country. stuart: you still have a convenient target in nancy pelosi. with joe crowley out, he cannot challenge ms. pelosi for the leadership of the party. she goes unalnged. still a leader and you love it, don't you? >> i will tell you, nancy pelosi is not so much about the individual to me. it's about the ideology of extremism that she is the leader of. their party has taken this hard left turn down the path of socialism. socialism being a winning political message, supposedly by the democratic party. that is extreme and nancy pelosi is just the poster child of that left shift that the party is going through on the other side. stuart: can i ask you this, if you are in a restaurant and ordered to leave because of who you are, a republican, what would you do? >> i would stand up and tell that individual that this is
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still america, and i respect them as people, but at the end of the day, they kick people out of restaurants because of what your political beliefs is, is fundamentally wrong, that is the path where the leadership on the other side of the aisle wants to bring us, and now you see the winning candidates that are embracing extremism. that's not good for the future of america. we don't want to be part that ant reasonable governing people to come to washington and solve problems for the people back home. stuart: congressman tom reed, thanks for taking time out of an extremely busy day. >> thank you. stuart: thank you. i want to alert this too, national security adviser john bolton meeting with russia's president vladimir putin in moscow. the white house will announce tomorrow details what probably is going to be a trump-putin summit. vienna, austria has been mentioned as a potential location. another big story today. oil. we're using a lot of it in america. drawing down ninn barrels from storage facilities.
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the white house threatening to enforce sanctions on any country that doesn't cut off imports from iran, and look what you've got. oil moving straight up, two bucks a barrel at $72 per barrel. coming up, former exxon arabian gulf president. he says if u.s. pressure to sanction iran is effective in europe, oil prices will go up ev more. we will back.
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dad's immigration practices you feckless [ bleep ]. >> white women who disappoint other white women. >> one way you get rid of trump is a crashing economy. please, bring on the recession. stuart: doesn't look like the republicans are calling out the democrats for being so-called unhinged. we will show you the entire ad. you'll love it. next. ♪
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. stuart: we've lost some of the rally, not all of it. we were up 220, now up 120. most of the stocks of the dow 30 are in the green. market's up after the white house's announcement it's taking what i'm calling a softer approach to trade with china. some headlines from our earlier interview with larry kudlow. he says this move protects the technological family jewels of america. he also says china has not given a satisfactory response to the tariff threat. as for his health, listen to this. >> thank you, stu, i feel great. great to be back. you know, to quote one of my heroes, mark twain, rumors of my demise were greatly exaggerated. stuart: vintage kudlow.
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yes, he is back and he was on the show earlier. big tech stocks. they've been hit hard. earlier this week on concerns that the white house would take a hard line on china. modest rebound for some of the same story with thechipmakers, beaten ds week. only one of them is coming back, qualcomm up seven cents. intel, micron down more. we have big news on oil today. e amount of oil in storage down nearly 10 million barrels. that's an enormous amount of usage of oil in america. also, the white house is threatening to enforce sanctions on any country that imports oil from iran. that's why the price is up at 72 bucks per barrel. joining us jerry bailey, former exxon arabian gulf president. you think oil is going to go much higher than this. make your case quickly please? >> i definitely think so,
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stuart. thanks for having me on among a busy workday and news day. oil is news, too. you and i have talked before about i think the upward trend is there. the volatility still remains but with all the talk about the sanctions, still disruptions geopolitical, we have an upside still to be reached on the oil price. stuart: bottom line is that we'r taking oil off the international market. for example, venezuela, output is declining dramatically as i understand it. libya, output and exports are under threat. iran might not be able to export the two million barrels of oil a day it currently exports and we in america are drawing down and using a great deal of oil. at $72 a barrel now. where do we go? >> i think we're still looking at 80 on the horizon. still that volatile. the upward trend will go. and points are correct. there are so many complex issues and the perfect storm is
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occurring that's causing this upswing. stuart: $80 and up from there, you think? >> well, i've said before that there's still room to go further than 80, but i think that's a reasonable market. the control will kick in at that time. i don't think they want to get totally out of whack. we're certainly going to go higher, in my opinion, than we are now. stuart: i know you're an oil guy, will you address the issue of gas prices. if oil goes to 80, we're going to have $3 gas in america across the board, right? >> you are right. i think the consumer has gotten themselves desensitized now. i think they can deal with that because they realize the economy is booming so much. people are looking better in the big picture. so i think the prices will go up but i believe people are more in tune and ready to handle that as one bit of their budget than they may have been
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in previous years. it will have an effect but it will go. stuart: okay, jerry, very sorry i cut this short today. as you know, this is a jam-packed news day. >> i understand that. i understand that. i'm happy to be part of your esteemed group with and you liz and ashley. i mean, you guys are on top of it. thanks for having me. stuart: can you have a extra five minutes. you're all right. >> thank you very much. stuart: next case, listen to this. far, far left. new york gubernatorial candidate cynthia nixon, she wants medicare for all. so does the person i think on the right-hand side of the screen, that is alexandria ocasio-cortez, she won last night, a primary in new york city. she's 28 years old and avowed socialist and she wants medicare for oil --e for all. [laughter] >> that too. stuart: look who's with us to comment on this. betsy mccaughey, author of the
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book, beating obamacare. okay. >> let's be clear, it's not medicare for all. she's calling for medicaid for all, and what it's going to do is rip private health insurance out of the hands of 10 1/2 million new yorkers who get on the job coverage. not just corporate executives, stuart, but also union members who in the past have traded cash wages for gold plated health benefits. they stand to lose the most. they'll be sitting in clinics in plastic chairs next to the guy on unemployment so much for the dignity of work. stuart: you're talking about cynthia nixon. >> yes, but i'm talking about this avowed socialist who won against crowley last night too. stuart: no private health insurance? >> absolutely. this bill they're backing outlaws private health insurance in new york state. stuart: outlaws it? >> outlaws it. just like bernie sanders' bill would do on a national level. you cannot have it.
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this is far more radical than for example the british system where they have single payer. anybody can get government-provided health insurance but some people choose to buy better, private health insurance, that's against the law in new york. too badhe thsands, 58,000 people in new york who work for health insurance companies. too bad for the renowned neurosurgeons, cardiologists part of the renowned medical world in new york. they're going to cleveland or boston because they're not going to work for the pennies that new york state is willing to pay them. stuart: betsy, having fired you up, hold on, i'm going to fire you up more. take a look. a new ad from the republicans, i played a little earlier today, roll the rest now. i want your comment afterwards. roll it again, please. >> those ideas are mainstream. >> i don't know why there aren't uprisings all over the country. >> if you see anybody in that cabinet in a restaurant, in a
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department store, in a gasoline station, you get out and you create a crowd! and you push back on them! and you tell them they're not welcome anymore, anywhere! >> do something about your dad's immigration practices you feckless [ bleep ]. >> white women who disappoint other white women. >> one way you get rid of trump is a crashing economy. please, bring on the recession. >> i have thought an awful lot about blowing up the white house. >> they want vulgarity. stuart: betsy, you started too early. your mic was closed. >> they want a crashing economy. they want open borders. they call i.c.e. a terrorist organization. let's just stick with one of these for a moment. they are calling i.c.e. a
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terrorist organization, who are the real terrorists? 81% of the arrests made by i.c.e. in california are convicted criminals. 80% of the arrests made right here in new york are people with a rap sheet or people wanted for criminal activity including the ms-13 gang members. do you know what they do in suffolk county? they beat teenagers to death with baseball bats, then put a plastic bag over their heads to suffocate them and cut off their eyes and nose with a machete. who are the terrorists, stuart? stuart: you think it rebounds against the left? >> oh, yes, it certainly does. because families all over the country know that i.c.e. is protecting them against these violent criminals who are infiltrating our nation. stuart: you know, i think i fired you up a bit too much, betsy. [ laughter ] >> i really do. we're having a grand old time with all the news we've got to show to the viewers. >> nobody would look at that ad and think voting democratic is
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a mainstream value. nobody. stuart: i'll take that as the last word. okay? thanks for being witus, betsy. i'm serious. thank you very much, indeed. quick check of stocks. first of all, facebook, it scrapped plan to bring everyone, high-speed internet all over the planet through solar-powered drones. >> to work with, work with somebody to develop it. stuart: they're not going to do facebook stock, $199 a share. disney is set to win antitrust approval to buy twenty-first century fox assets as soon as today. disney is up on the news at $105. let's get to that big ruling today from the supreme court on union dues. in a 5-4 decision, they dealt a potentially crippling blow to public sector unions and others, too. judge napolitano on that one, coming up and this day has finally come. anti-trump fbi agent peter strzok tells his side of the
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. reporter: i'm nicole petallides with your fox business brief.
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refuse to join the union, the state that employs you, the plaintiff, as a health care worker, would deduct from the salary it owes you, union dues, and pay it to the union against your will. you wouhe get from the union back small portion of your union dues that went to the political expressions with which you disagreed. a bookkeepi nightmare, but there's a formula for doing this. today, the state can't take a nickel from you. it can't force to you join the union. it can't force to you pay the union dues. the union cannot harass you, can only deal with you if you affirmatively, as you say, optin. the problem will be when government employees receive benefits from the union and the union wants them to pay for the benefits. i don't know how that's going to work out but some judge will call it. stuart: it will be an issue in the future. >> but based on volunteerism,
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not ambition. stuart: is that applying to private enterprise or the government? >> no, just the government. just the government because the government isng this. this will soon come to private enterprise because the states where private enterprise is compelled to deal with the unions, who does the compelling? the government. the same government. the state government. that issue has not come to the courts. this is only state employees and oy on the 25 or 26 states that do this. stuart: but in principle, it's enormous and significant blow toringnized labor, do you agree? >> absolutely. the unions have blue color workers who vote republican and leaders who are not only democrat but off on the left fringe of the democratic party. this will really profoundly affect the democrats in a way they don't want to be affected, stuart. stuart: real fast. anti-trump fbi guy peter strzok
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is on capitol hill. >> i don't know a word that's coming out ofis m will there be leaks? out? will we get the testimony? the transcript? >> no, chairman goodlatte, the chairm of the houseudicry committee says there will eventually be a public interrogation. but the congress claimed to itself the right to the q&a before the rest of us do. to which i say, do we work for the congress or congress work for us? how do they get to keep this secret from us. this is a profound public policy issue. did the fbi and the d.o.j. in the obama years conspire to interfere with the election of donald trump and was peter strzok at the center of the conspiracy? why does congress get to know the answers. stuart: who has the power? . >> goodlatte and tray goey gowd
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two republicans decided it will be behind closed doors. open up thatdoor. stuart: jim jordan will be on the show tomorrow. >> ask him why the secrecy. stuart: why the secrecy. and overturn it. totally different subject. check that out.ens, please, >> wow! that's varney's new private jet! >> that's boeing's design for a futuristic hypersonic plane. new york, london, two hours. los angeles to tokyo three hours. don't get excited, it will likely be decades before this thing is ours. >> let's go to london for dinner, and back tonight. [ laughter ] >> elon musk says tesla will ree pickup truck. musk tweeted it will have dual motor, all-wheel drive. musk says it will come with outlets to plug in power tools and will have, quote, crazy
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talk. it will be released after the model y in 2020. tesla stock up again, $346. where is the price of gold on the day of rallying stocks? the price of gold is $1254. where is bitcoin? has it dropped below 6,000? very close. $6116 is the price. do look at oil. real movement there. this is a 3.5-year high. almost at $73 a barrel. now this -- president trump will attend the groundbreaking of foxconn's new wisconsintrow expected to create 10,000 jobs, but the company is getting billions of dollars in incentives. is it worth that kind of investment? we will ask the head of wisconsin manufacturers. he'll be with the president tomorrow, and he's on our show today. ♪
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i mwell, what are youe to take care odoing tomorrow -10am? staff meeting. noon? eating. 3:45? uh, compliance training. 6:30? sam's baseball practice. 8:30? tai chi. yeah, so sounds relaxing. alright, 9:53? i usually make their lunches then, and i have a little vegan so
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taxpayer-funded incentives. now the company is getting more money from local cities as well. joining us now curt bauer, the wisconsin manufacturers and commerce preside ceo. that's an awful lot of subsidies. is it worth it, sir? >> i think it is. i thin y look at the return on investment. $3 billion in incentives, with a lot of pay as you go incentives and clawback options after a guarantee. they are clawbacks, pay as you o as foxconn creates t jobs, they get the incentives. it protects the taxpayer, makes sure they do what they say they're going to do so the taxpayer is protected. so the taxpayer, this is one of the best deals i think i've seen in the united states as far as a majorncentive package to move a major plant like this to a state. stuart: was this president trump strong arming foxconn,
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come on over here, you create jobs because we want them over here. was this a strong-arm tactic. >> the co-founder of foxconn came here saying he wanted to invest in america. they don't have liquid crystal display of manufacturing in north america right no the president certainly played a role and does suggest wisconsin to chairman ngo but the wisconsin business climate, the proximity to chicago and michigan and all the combination of factors together that allowed wisconsin to get this massive project. stuart: 10,000 jobs, is that the accurate figure? >> about 13,000 direct jobs. 10,000 construction jobs and probably at least thousands more in the supply chain. stuart: so bottom line, kurt, you think it's worth it. three billion worth it? >> i'll take a 3-1 investment in my 401(k) any time. stuart: okay, could i get your
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comment on the supreme court decision which ends the closed shop and government service? can you comment on that, please? >> we've had that in wisconsin. we led the way with act 10. it makes perfect sense from our perspective. tradetions like mine, we have to go out and convince businesses to join. they don't automatically have to pay us. we go out and earn their business. wisconsin, as i understan it, the public sector unionization really dropped dramatically among teachers, for example, d other people who work for the government. unionization dropped substantially. is that accurate? >> that is true, but when we went right to work, a lot of the unions that provided value. the ones that provided training. the ones that provided placement. membership is actually up. if you provide value, you're going to be just fine. stuart: okay, kurt bauer, thank you for joining us on a big day. we are breathless but you are
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not. good stuff. i am breathless will take a breath, and we'll be back with more "varney" after this. ♪ (siren wailing) (barry murrey) when you have a really traumatic injury, we have a short amount of time to get our patient to the hospital with good results. we call that the golden hour. evaluating patients remotely is where i think we have a potential to make a difference. (barry murrey) we woubrorave a lot of lives ito the patient. i'm .. .. wireless connections, it'll be possible to be able to operate on a patient in a way that was just not possible before. when i move my hand, the robot on the other side
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...search over 200 booking sites ...to find you the lowest price... ...on the hotel you want. don't sweat your booking. tripadvisor. the latest reviews. the lowest prices. >> well, just check out her intraday charts of the dow industrials. you could argue that the market didn't before 11:20 when larry kudlow told us that the u.s. has not yet received a response from china on terrorists. keep in mind the dow is the most sensitive of the major indicators to trade and tariff concerns. kudlow was on our show. i'm priceless because we've covered so much. luton, trump may be in austria. >> the scotus decision on union dues. weekly magazines are now obsolete because of the news flow everyday. >> the biggest or the biggest
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story today, germany just got knockedut world cup. defending champion lost to south korea. sweden and mexico move on. >> they were the world champions four years ago and now make it through the group stage. that is news. neil: thank you very much my friend. following up on that in on that and the marketeer with the interview of larry kudlow not only did he kind of echo the fact the administration bill is in the top line when it comes to the chinese, but he also indicated so far they haven't heard bk from the chinese. it's interesting what i got out of kudlow's remarks is the fact that he sounded a lot more aggressive certainly than the official white house relying on this committee that will come the ways are the mechanisms by which you judge unfairly. he that as it made about 55 points here. way

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