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tv   Varney Company  FOX Business  March 21, 2019 9:00am-12:00pm EDT

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be this way, this is unusual, we should do this in private. very critical of her husband. maria: great to have you guys. thank you so much for joining us. dagen, great show. be sure to tune in tomorrow morning. i sit down for an exclusive interview one-on-one with president trump. we will have the full interview tomorrow morning at 6:00 a.m. eastern right here. have a great day. here's stuart and "varney & company." stuart: i promise i will be watching. that's a flat out promise. you've got it. good morning, maria. good morning, everyone. what's going on here? early in the week, it looked like the market just wanted to go up but not now. look at this. the market is not exactly falling out of bed but we're down. we were down 140 yesterday on the dow, down close to 80 points today. it could be another triple digit loss at the opening bell this morning. maybe it's trade. reportedly, president trump wants china to buy two or even three trillion dollars worth of american goods in the next six years. that's a lot more than originally proposed. it will be tough to sell them that much.
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maybe it's this. sinking interest rates. we are down to 2.50% on the ten-year treasury. that is not good news if it's a signal of a weakening economy. you better take a look at this, too. biogen down, what, 26%, almost $90 a share. its treatment for alzheimer's is unlikely to meet its goals. research halted. the treatment tried to attack the plaque that occurs in people with alzheimer's. it was not successful. this is a disappointment for millions of people. elsewhere, there is a crisis at the border and homeland security chief will be there to see it today. a flood of migrants hit the border this week, so many that the authorities are being forced to release people on to the streets of el paso, texas. tent cities have appeared in america. here's my editorial. the democrats created this crisis and presidential candidates should be asked what are you going to do about it.
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in new zealand, sweeping gun control arrives just days after the mass shooting. all military style semiautomatic weapons and assault rifles, banned. big day. "varney & company" is about to begin. you better love me. i kept this place open. that i can tell you. they just gave me a little briefing on a couple of those texts. i want to get them but then i remember when a man named dukakis got into a tank and i remember he tanked when he got into the tank. stuart: let's get right into it. that was president trump yesterday. he was in ohio with the last tank manufacturing plant channeling his inner michael dukakis, i guess. ashley: sharp criticism back, as you can imagine, calling
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president trump a man with no sense of honor, no sense of integrity, absolutely gutless, and he said look, i call trump these days the draft dodger in chief. while thousands of young americans were fighting and dying in vietnam, he was doing everything he could not to serve. like thousands of young americans, i served in the military, 16 months of which were seven miles from the dmz in korea. stuart: pretty good comeback, i would say. ashley: i would say. gutless, he calls the president. stuart: we hear it. let's get straight to the border crisis which does exist. homeland security secretary kirstjen nielsen heading to texas to meet with i.c.e. and border officials. jason chaffetz with us now. i think there really is a crisis on the border. we've got tent cities down there. look, i blame the democrats and i think every presidential candidate should be asked what are you going to do about this. >> well, i think it's the democrats and i think it's an awful lot of republicans who
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were in a position of power in congress. now, donald trump has been trying to do what he can by pouring billions of dollars in there to put up more impediments to these people coming north, doing exactly what the border patrol, i.c.e. and others, want to do, the security experts, but congress as a whole has been inept in absolutely doing this. what is an acceptable number, stuart? if the democrats think there isn't a crisis, then they are telling us that apprehending nearly 100,000 people in a 30-day period, those are just the ones we catch, that that's an acceptable number. but it certainly is not. stuart: the crisis is here. i don't know what we are going to do about it as a country. i don't know what we are going to do about it. there is the mass exodus out of central america, they are on our border, and they are coming into america. i believe there are now 900,000 who crossed the border illegally but have been released into america because we haven't got the facilities to hold them and you can't hold children for more
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than 20 days. what are we going to do about this? any bright ideas? >> well, they have created these perverse incentives to bring a child with you. we have almost no ability to vet and understand whether or not that child is actually part of a family unit or if these are drug cartels using these as human shields and human trafficking to bring people north. it is a hideous incentive the united states has put into place to bring a child because they know they can't detain them, they know they are going to overwhelm the numbers. we have no way of vetting somebody who has come up from el salvador or honduras or something like that, and the secretary, the president has been talking about this for months and months. it's a real crisis. stuart: i think it will be headline news today when we get down there and see exactly what is happening now. jason, stay there, please. more for you in just a moment. let's get to your money. i hate to say it but this is the stock of the day, biogen.
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way down because the company has halted trials for its alzheimer's drug. let's bring in market watcher scott martin. scott, this is not a financial story. this is a chronic disappointment about this line of treatment and a chronic disappointment for millions of people. go. >> yes. it's something that a lot of hopes were hinging on, frankly, from both a demographic shift obviously in this country but also the fact that this was a drug that i can't pronounce, by the way, but it was in phase 3 trials. this wasn't a drug that was experimental by any means. this was a drug that was going to come on the market hopefully later in 2019 but certainly in 2020, also a drug predicted to be in the tens of billions of revenues, my friends, now it's off the market at least for now. stuart: the disappointment is that this is a whole line of treatment, and biogen was the last company involved in that line of treatment. now that they have discontinued research, that whole line of treatment is off the table. there are no solutions to
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alzheimer's at this moment. do you think there could be spillover into other biotech stocks? >> yep, because it just puts into your point, the disappointment, the outlook looks scary when it comes to alzheimer's and the fact you're right, roche holdings is another company over the last few years that tried to attack this alzheimer's epidemic unsuccessfully, by the way. it certainly puts in doubt a cure for alzheimer's and certainly given what we are seeing in today's society, it's a cure we are looking to find and today's news is not good to do that. stuart: sort me out on the overall state of the market. the start of the week, i thought it just wants to go up. now i'm not so sure. we are going to be down, what, okay, 60 points at the opening bell today. what's the big problem today? >> yeah, it appears the market wants to go down now. it's probably a couple things. i think the market's had a pretty nice rally this year amid let's just say conflicting economic data points. the federal reserve yesterday put out a little bit more of a
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scary statement, scary tone when it came to how they are looking at the economy and things going forward. yes, they are going to be accommodative. yes, they are going to listen to economic data which i think is great. but gosh, look at interest rates this morning, my friend, down to 2.5% on the ten-year treasury note. we haven't been down there in many, many months. that's a sign that things may be growing slower than we think. stuart: all right, scott, thanks very much for joining us. i'm glad you are saying we don't have that much to worry about overall on the market. >> not today. stuart: good luck. thanks, scott. i want to get to new zealand. yeah, it banned semiautomatic weapons, military style assault rifles, all banned and this came less than a week after that mass shooting. now, the left is surely going to pound the table here and say why they did it there, why can't we do it here. look at this from bernie sanders. he's tweeted about this today. this is what real action to stop gun violence looks like. we must follow new zealand's lead. take on the nra and ban the sale
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and distribution of assault weapons in the united states. jason chaffetz, here they come. this is the line of attack from the left right now. your response. >> well, they tried banning this in the past and it had absolutely no effect, no statistical effect. look, guns are not for everybody but if i am a law-abiding citizen of this country, i have a constitutional right to purchase and bear those arms. and i do so. i have an array of guns and that's my right. i'm not the problem. if you want to solve the problem, you have to look at mental health issues and there are lots of things we actually could do, but don't just put this on a bumper sticker and say this will solve all the problems. it will not. we tried it and it hasn't done it in the past. stuart: well said. jason chaffetz, thanks very much for joining us on a very difficult subject. we appreciate it. thank you, sir. >> thank you. stuart: check the futures, where are we now? we have come back nicely, actually. about a half hour ago we were going to be down triple digits. now it looks like maybe a
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50-point loss for the dow industrials. headline news. no winners in last night's powerball drawing. the jackpot is $625 million. nobody's won since december. the next drawing is saturday night. buy me one, would you? liz: absolutely. stuart: california, look at that. they've got a pot problem. they have so much of it, they can't find buyers for it all. now some growers are warning the industry could crash, their word, crash if nothing is done. what can you do? i don't know. president trump will sign an executive order on campus free speech today, basically no federal money for colleges if they don't enforce free speech. we're on that story. it's a good one. "varney & company" just getting started.
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stuart: president trump's going to sign an executive order today. it will throttle government funding and grants to colleges that don't promote free speech on campus. come in, board member of the national republican lawyers foundation. welcome back to the program. can you tell me how this is going to work? is it just a denial of money if you don't have real free speech on campus, just as simple as that? >> i think there's some details that we don't know yet and they will be unveiled in the signing this afternoon, but my understanding overall is that a federal funding or grants for these universities will be tied to the extent to which they do not promote but just permit free speech on their campus. we have had a real rash of
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censorship on college campuses that hurts all the students, so i think this is really an important step. i believe there's another part of this that also ties some aspects of the funding and loans available to students to how successful their colleges and universities are at actually placing them in jobs where they can earn money to pay them back. i think that's going to be interesting to see as well. stuart: very hard to enforce that, i'd say. >> i think we have to see what the details are, but what your viewers may not know is the department of education actually has a vast bureaucracy that measures these colleges and universities on a number of different criteria so they already have a way to do that. it's just a matter of adding this additional scrutiny. stuart: i knew they have got a vast bureaucracy. i didn't know they were involved in that. i thought they were censoring us. >> no, no, no. for example, they won't give a college funding if, you know, it doesn't meet certain accreditation criteria and so forth. this is just adding some additional criteria. stuart: fair enough. okay. social media, just listen to what president trump had to say earlier this week about their
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bias against conservative ideas. roll tape, please. >> there seems to be they're conservative if they're republicans, if they're in a certain group, there's discrimination, big discrimination. something's happening with those groups of folks that are running facebook and google and twitter, and i do think we have to get to the bottom of it. stuart: get to the bottom of it, but what can the president of the united states do about this? >> well, for one thing, there are some regulations that protect these social media companies from lawsuits in a way that, for example, fox news and other television broadcasters don't have protection. so if they're going to be engaging in publication and censorship and weighing different opinions, then they do not need protection from liability for their actions when they do that. that's one thing under the communications decency act. the other is these big tech companies misrepresent what they're doing which is a consumer issue. so we have federal trade commission and other federal government agencies that can
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actually take action based on existing laws and i hope that they do that. stuart: can you see the point coming where regulation is imposed on the facebooks and googles of this world which changes their business model? >> yes. i think that it's coming and i think you will see that from the behavior of these tech companies that they are expecting it to come. you are seeing a lot of the democratic candidates actually start talking about this. elizabeth warren tuckparticular has talked about how these big companies have too much power and need to be looked at. the power actually goes along with the political viewpoint discrimination and hiding what they're doing. stuart: i'm in that camp, too. i think they have too much power. i don't think -- they have knowledge of two billion people and know everything about two billion people. and in the wrong hands, that's a couple of billionaires have got that power. i don't like that. that's big brother, isn't it? >> it is. and these same companies are doing business with china which is absolutely big brother. so you want china to have all the personal information of what you do in your house? i don't want that. i think it's time for us to know what they are doing with our
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data and what we can do to protect ourselves. stuart: i knew i liked you. i knew we should have you on this program more often. you are all right. thanks for joining us. always appreciate it. thank you. >> my pleasure. stuart: now this. the social security administration might soon be stalking your social media accounts. you want to tell me why? liz: facebook and instagram, for disability fraud, potentially. you may want to set your postings to private. so this is basically to see if you're not disabled and should not be getting disability. stuart: i think that's legit. i think that's legit. liz: but it's about data privacy. ashley: i think the privacy issue, because they are getting access to everything here, photos can be altered. you can show, to their point, you could be saying here's stuart varney waterskiing but it was a throwback picture from whenever that all of a sudden, stu's disability claim is doubtful. there's a lot of stuff that needs to be worked out on that. stuart: good. fair enough. let's all look at futures.
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we are going to be down at the opening bell but not as bad as i thought it was going to be an hour ago. off about, what, 60 points for the dow. maybe 25 for the nasdaq. looks like a lot of people in america are going online after having a drink or two. wait until you hear how much money people are spending while drunk shopping. that's the headline. drunk shopping. we will get into that.
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stuart: it's one of these studies, okay? it says that americans, that you and i, we spent $39 billion last year shopping online while drunk. you want to explain? wait a minute. how do we know that they were drunk? ashley: because they did a survey and 26% of people said yeah, i was kind of tipsy or worse when i made that purchase. yeah. it's funny because these numbers are staggering. because they were staggering. yeah, 26% of people, if you base 26% of people across the country, that would be 53.4 million intoxicated shoppers. now, what group spends the most drunk? millenials. they average $1,047 per year
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buying stuff that they can't figure out where they got it when it arrives the next day. liz: know what i love about this? one out of ten people bought a car drunk online. one out of seven bought a vacation. hilarious. a british couple bought a whole hotel once. true story. stuart: the brits, you know. liz: they will buy food, clothing, cars. i was always wondering why i had an rv in the yard. kidding. stuart: wonder if drunk shopping has anything to do with this story. apparently california has too much marijuana, not enough people are buying it. i guess there is a glut on the market. liz: they have four years worth of inventory in california and pushing on higher than that in oregon. know what's really interesting, the taxes california slapped on it that even state officials in california are saying whoa, that's a barrier to moving this stuff, the legal pot industry, their inventory, up against the black market as well.
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so california penciled in we will make more than $100 million in tax revenue. that didn't come in. now california state officials are saying our taxes on the pot industry is too high. they may drop it to 11% from 15%. stuart: they got greedy. ashley: they may end up not getting as much. stuart: that is the only tax i have ever heard that california will cut. the tax on weed. last question before we get out of this. do you shop more when you are stoned than when you're drunk? liz: that's the next survey coming up after the break. stuart: we will open this market in four and a half minutes. we will be down, not as dramatic a loss as i thought we were going to have about an hour ago. down 60 for the dow. 24 for the nasdaq. we'll be back with the opening bell. our grandparents checked their smartphones
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stuart: about 40 seconds to go. we open this market this thursday morning looking for a downside move. not an enormous loss, by any means, but another downside move. i have to say it, we opened up this week saying the market just wants to go higher. well, now we're not saying that anymore because it looks like it's edging down. i'm going to ask our people here, what's the significant
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problem? why are we drifting lower when the federal reserve says it's going to keep interest rates pretty much where they are for a long time to come? i don't get that. by the way, we've got the ten-year treasury now yielding just 2.50%. that's a low of several months, at least. okay. here we go. we're off, we're running. we have started trading and are down right from the get-go. 74, 75, we are down. if you look on the left-hand side of the screen, this is for our radio listeners, the vast majority of the dow 30 are in the red. we are down across the board, 85 points lower for the dow. that's exactly one third of 1%. the s&p 500, where is that? it is down one quarter of 1%. the nasdaq composite, where is that? very first going, we are down one quarter of 1%. so we are down across the board. a bigger loss for the dow than the s&p and the nasdaq. all right. i want to know, i'm asking this question again, if the federal reserve is keeping rates where they are, why is the market
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drifting lower? mike murphy's here, danielle demartino booth is here, elizabeth macdonald, ashley webster. answer the question, murphy. >> the fed made a mistake in saying they are going to raise rates one time over the course of the next two years. they are supposed to be data dependent. they are supposed to rely on the information that's coming out. i don't know how they have a strong indication or strong feeling on what's going to be coming out in economic data a year or year and a half from now. i think they should stay more focused shorter term and not try to go out so far. that's what the market didn't like. ashley: the other years, they did exactly what president trump has been telling them exactly what they should do. however, the reasons they're doing it is not what the president would like. they revised down their gdp forecast and the white house says 3.2%. talked about slowing down in hiring, the unemployment rate is bottoming out, growth is overall slowing down. it was not a great endorsement of the economy. basically it says we are slowing down.
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and the global economy is hurting us. stuart: okay. i've got to move on because i hate to say it, the stock of the day, but it's certainly the major league stock that is falling the most, that is biogen. huge loss here. it scrapped a trial for an alzheimer's drug. a little more on this. liz: this is the amyloid treatment, the anti-amyloid antibody treatment is not working and it's hitting other drug stocks, like roche. it's hitting the nasdaq etfs. this is a big disappointment for this sector. they thought this was the way to go to stop alzheimer's and people in the scientific industry sector have said no, you have to look at other reasons for alzheimer's. stuart: look at it, $90 lower. do you think this spills over into the rest of the biotech sector? >> i don't see how it can't. i think it absolutely has to, because you are looking at a company that has traditionally been a big leader and if you look at the demographics in the country, there is so much hope staked on finding a solution to alzheimer's and this sets that
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ba back, we have no idea how much. but it will, as liz said, drag the sector down. stuart: a dreadful disappointment for millions and millions of people. >> years in the making. years in the making, this story. stuart: let's lighten up because we have levi's going public today. it will happen sometime this morning. gerri willis is on the floor of the new york stock exchange. i see a lot down there. gerri: we are making history. for the first time since 1976, they are suspending the rules. take a look at my rear end. everybody is wearing levi's. i want you to talk to matt here, he's a trader. he's pro the jeans. >> congratulations to levi's, great american brand. we are glad to go casual today for this. gerri: you would stay this way if you could? >> absolutely. it's more comfortable. gerri: thank you so much. really appreciate it.
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we want to show you where the action is all going down. this is where they are going to open the shares of levi's, okay? everybody crowding around this position right here. let's get in as close as we can. you get in front of me here. i want people to see what's going on. this is where the public company is going to be born. this company, we are being told we have to back off by the new york stock exchange. jpm and goldman sachs. what's interesting about this, the family members are actually going to get the major benefits from this ipo. so we will see this open within the next hour. expectations, the share price is going to pop here. we will probably see a big improveme improvement, already expected to come in at 14 to 16. they will beat that by a long shot is my guess. we will be covering this all day long. back to you. stuart: thanks very much indeed. we will go back to you when the first trade occurs and when they let you get back towards the trading mark right there. would you buy it?
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>> i would not. stuart: that's enough. would you buy it? >> there's only 3% of their sales in china and they are a 166-year-old icon. there's a ton of expansion for this company. stuart: so you would buy it? >> look, any solid brands that only have 3% penetration in china, that's a lot of heinies to put jeans on. stuart: nicely put. check the dow, not much of a loss. we were figuring it would be down about 100 points at the open but no. we are down just 30. 25,700 is the level. how about this. con-agra make a lot of products including swiss miss hot chocolate, banquet tv dinners, did you know that? a rosy outlook. the stock is up 11% on that rosy outlook. williams-sonoma raising its dividend, up 3.3%. that's almost $2 higher. the chip maker micron forecasting lower demand but the stock is up 5.5%. i will check that back later.
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gun stocks. new zealand is banning military style semiautomatic guns. that's over there. over here, gun stocks, no movement whatsoever. how about bmw? luxury car maker, obviously. bombshell from them. they are expecting lower profits this year and they are down again this morning. look at that. they were down yesterday, down 2% today. the other auto makers, they got hit on that bmw news. let me ask you this. would you buy any auto stock at this point? >> not that i want to harp on china but china will produce a million electronic cars this year. they have laws that are pushing their consumers into them and i think it's going to be one of the few pockets of strength. stuart: so give me an electric car maker you like that does business in china. >> you got me now. look, global auto production peaked out in 2017. we saw similarly down news out of mercedes a few weeks ago. as we saw out of the white house
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yesterday, tariffs for european auto makers are still on the table. stuart: you wouldn't touch them? >> not me, no. stuart: you wouldn't touch them, would you? >> there's a cultural shift going on. people no longer need to own cars, old school cars like ford although look at ford's stock, down near a 52-week low, 7% dividend. i would not buy it. but it sets up interesting for someone looking for income. stuart: 7% dividend on ford motor company. is the dividend safe? i don't know. good question. liz: good question. stuart: 7%, i like. liz: we just found out their auto production cutbacks came through yesterday as well. that's never good news for our sector here at home. stuart: true enough. i want to check nike. they report profits after the bell today, okay. they've got several controversies, yet they came above all of them. that's pretty close to a record high. what's going on? ashley: again, cultural shift. people are wearing sneakers more. there's more demand for sneakers in the country right now. and globally right now. nike does it better than anyone else.
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they have been able to push back against reebok, against adidas, against under armour. nike is at an all time high for a reason. liz: there's real worry after williamson's sneaker blew apart in that game. they still have a really strong balance sheet, strong cash flow. stuart: they are at $87 a share almost. their record high is about 90, i think. somewhere around there. darden restaurants, the umbrella company that owns olive garden, has a rosy forecast. they are crediting olive garden for this growth. that's a comeback story. >> a lot of people had written them off for dead but you look at the numbers, people are going in, spending money. they like what they are being offered. stuart: do you have any interest in olive garden? >> you know, the buffets, you can sit down and there's endless amounts of breadsticks. i avoid olive garden. look, this is a value play for
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americans who are cutting back their budgets are more constrained, households in general. if you are looking to go out and you want to get a bang for your buck, you are going to take the family there. stuart: two or three pounds of pasta. wait a minute. wait a minute. hold it, everyone. we have turned around, literally. >> in the green. olive garden. stuart: look at that. we are up ten points on the dow industrials. we opened down 40 or 50, i think it was. ashley: our job is done. stuart: our job is done. now we're up 11 points. stock of the day for you? >> nike. keep an eye on the earnings. i expect strong earnings out of the company. stuart: would you buy it? >> i wouldn't buy it into the print but i think it's a great company to own. we own it long term. stuart: stock of the day to you? >> no stock for me. i'm a former fed insider. but i'm watching the 250 level on the ten-year. it is a critical psychological threshold. i do not want to see 2.49. stuart: is it an indicator of a slowing weak economy? >> it is. that's the perception we do not
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want to seep into the market after yesterday's overdelivery by the fed. stuart: see what you did? it slipped back. >> sorry. stuart: that's what you did. ashley: talk about olive garden. >> i'm about to go buy nikes immediately. stuart: thank you very much. >> i'm wearing sneakers right now. stuart: i'm wearing jeans but nobody knows that. levi's all the way. mike, danielle, thank you very much. check the big board again. we are dead flat now. down two points, that's it. a speech that joe biden made six months ago making headlines today, after the tape just resurfaced. in it, biden referred to trump voters as the dregs of society. sounds like a deplorables moment to me. i don't like that. my take on that coming up in the 11:00 hour. president trump says tariffs on china will remain, but two of our top guys are going to beijing for more talks. what's going on? next, we will get the state of play from one of our china experts. and an fbn programming note.
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stuart: we a're holding on to a very modest upside move. the dow at this point up 17 points. china trade. the president says he may leave tariffs in place for a long time. i would call that a negative. however, high level talks resume next week in beijing. i'll call that a positive. curtis ellis is with us, former trump campaign trade and jobs adviser. straighten this out because i'm getting mixed messages, positive and negative. where are we, state of play? >> we are seeing president trump as the tough negotiator that the
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people elected him to be. he's said all along it must be a good deal. a bad deal is worse than no deal at all. it must have tough enforcement. we know that for the past 30 years, china has been making empty promises, saying they are going to do something but never doing it. so what he's saying now is these tariffs are going to remain in place until we know that china is living up to the agreement. meanwhile, we send bob lighthizer, the toughest negotiator that's ever existed on the face of the earth for the u.s. trade representative -- stuart: he is? >> he's the toughest trade negotiator we have ever had. stuart: he's going over there with secretary mnuchin, that's next week, then theoretically, china's vice premier, he comes over here the week after. >> that's right. stuart: as i understand it, the objective is to write down the deal, get it written down. >> right. stuart: so there's no danger that if they do have a summit, trump walks out. >> exactly. that's right. if president xi of china does
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not want to have trump walk out on him, he wants to make sure we all understand what the deal is. now, look, we have seen as i said for the past 30 years, china has never lived up to the agreement. so far what they have offered has been pretty meaningless. we are going -- they are going to drop 25% tariff on u.s. automobiles coming into china. well, we will never sell any autos over there anyway because gm makes all the cars in china. now we hear oh, well, we will buy more chips from the united states, semiconductor chips. the u.s. semiconductor chip makers say no, thanks, we don't want to sell to china because we are going to have to move our factories over to china, then we will be under beijing's thumb. stuart: what's this i hear this morning? i got a report this morning that president trump wants china to buy not $1.2 trillion worth of stuff over the next two years, six years, but maybe $2 trillion or $3 trillion worth of stuff from america going over there in the next six years. is that realistic?
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it's certainly a hard line, isn't it? >> it is certainly hard line and maybe in addition to keeping the tariffs in place at 10%, he should raise them to 25%. then we can get a real negotiation going. stuart: think that's required? you think he's got to maintain a super tough line? >> you have to maintain pressure on these people. they have wheedled out of every promise they ever made. back in 2006 they said they were going to open their market to u.s. credit card issuers. the wto, world trade organization, said they had to do that. they said okay, we'll do it. they still haven't done it. stuart: so if he's taking a hard line on how much stuff they got to buy, you take a hard line on tariffs, is that a positive signal? >> absolutely a positive signal. stuart: that a deal will be done and we won't cave? >> that's right. we won't cave. we have to hold out for the best deal enforceable deal, credible deal. this is in the long-term interest of the market of the country. stuart: it's not going to come fast, is it? >> no.
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it is not going to come fast. stuart: into the summer. >> took us 30, 40 years to get into this mess. it will take us awhile to correct it. stuart: summertime? by that i mean june, july? >> it's going to take years, to be quite honest. stuart: yeah, but there will be a handshake when? in the summer? >> it's up to the chinese communist party politburo. stuart: there you have it. curtis ellis, thanks for joining us, sir, straightening us out on that one. state of play. thank you, sir. let's turn to facebook. yeah, under fire again. the livestreaming video from new zealand, the shooting there, wasn't taken down quickly, despite facebook using artificial intelligence. tell me more. liz: two things popped up. it's facebook's vice president for integrity put up a blog post. he admitted our algorithms are not trained to identify attacks like this. yes, for terrorist attacks, yes for pornography, but not this. admitted to that. admitted that this type of attack on livestreaming was not prioritized at facebook. still is causing consternation
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because he's calling it unique challenges and people are saying this is more than a challenge. this is basically showing what's the equivalent of, has been called pornography, these people getting killed live onstream. so -- on livestream. so this terrorist did it purposely because of the allure of livestream. stuart: i just don't see it. do you? ashley: we talked about this before. billions of clips of video. it seems to me the a.i., don't you think this would be one of the first things they would put in there to catch someone streaming live carrying a gun, shooting people? i don't know how that's not caught in the algorithms. liz: here's what's happening. the next step, watch this, you have to watch this, congress is saying we are going to look at that safe harbor law that protects social media from lawsuits for third party content. so is that going to protect this? that's a big debate. stuart: very good question. well done. check the dow 30. we are up now 30 odd points for
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the dow. we got about 20 of the dow 30 in the green. they're up. next case. thousands of ford explorer owners say their vehicles made them sick. they say exhaust fumes have gotten into their vehicles, exposing them to toxic levels of carbon monoxide. what a story. more on that after this. if ywhen you brush or floss, you don't have to choose between healthy gums and strong teeth. complete protection from parodontax has 8 designed benefits for healthy gums and strong teeth. complete protection from parodontax.
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stuart: oh, we've got quite an auto story for you. ford's explorer model apparently makes people sick. carbon monoxide may be leaking into the cabin. fox news automotive editor is with us. how many complaints, first of all? >> this issue has been dogging ford for a couple years now. they have about 3,000 -- stuart: 3,000? >> between ford and the federal government, people complaining to both of those agencies. stuart: 3,000? >> that's what we're hearing so far. look, it's a problem that ford says doesn't exist. they are testing, it says there isn't a problem, there isn't a higher carbon monoxide level in these vehicles but people complain about exhaust fumes, complain about getting dizzy, in a couple cases complain about passing out and crashing. there's definitely something going on. national highway traffic safety administration is looking into it. ford has had a couple of customer satisfaction programs where it's changed a couple things in the cars, updated the
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ventilation system and some sealing on the rear tailgate, but only because it says hey, look, this might help but it's not really a problem. you might smell exhaust fumes but carbon monoxide is not an issue, as far as we found. stuart: is it a bombshell story if ford says there is no problem but 3,000 people say it is? is it the bombshell story that i'm making it out to be? >> look, if ford has tests that say there aren't carbon monoxide levels in the car that are dangerous and they hide those, sure, it's an issue. they insist that's not the case right now. stuart: they fully tested? >> they have said they tested and are waiting for nhtsa. now, that review has been going on for a couple years now. it's at the engineering analysis point now which is pretty serious but for whatever reason it's been taking quite some time to come to a conclusion on this. stuart: you ever heard about anything like this before? carbon monoxide poisoning is a nasty thing. it doesn't make you -- liz: to a point, people putting actual carbon monoxide detectors
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in their cars. >> which may or may not be accurate. these off the shelf ones might not be the big picture here. look, they had a problem first with police cars, they were modified, people were drilling holes in the rear tailgate to put in police equipment and exhaust fumes were coming in there. ford addressed that as well. didn't say it had to, wasn't their fault but they did address it with some issues. then they had this customer satisfaction program last year, with again, a couple things modified on your car to help keep the exhaust fumes out, but they are saying it's really not that many coming in. as far as they can tell. stuart: bring on the lawyers, because -- >> they are out there already. stuart: i want some money. all right. what have we got now? are we going to do that -- let's do the big board. i don't want to do that march madness nonsense. i really don't want to do that. let's not do it. look at this. the producer says i'm getting madty story we're not doing. that's true. that's true. the story is how much time is wasted in business by people
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making out their bracket. liz: who cares. stuart: it is a totally bogus story entirely. i'm not going to touch it. ashley: you just did. stuart: next case. to the crisis and it is a crisis on the border. tent cities appear on our side of the border. illegals are being released on to the streets of el paso and mcallen, texas. it's truly a crisis and i blame the democrats. my take on that, next. metastatic breast cancer is relentless, but i'm relentless too. mbc doesn't take a day off, and neither will i. and i treat my mbc with everyday verzenio- the only one of its kind that can be taken every day. in fact, verzenio is a cdk4 & 6 inhibitor
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stuart: the scene at our southern border is a democrat disgrace. the left has encouraged mass illegal immigration and the illegals have arrived in force. tent cities are springing up in america. let's be clear. we're not heartless. we're not evil. we are not racist. we're not anti-immigrant. we are humane society swamped, overrun by migrants who are encouraged to come here by america's left. they did this and they blame the rest of us. on tuesday 150 illegals were released on to the street of el paso. government facilities were full to bursting. they camped in a public park. in the same area, in a 10 minute period, the border patrol apprehended two large groups totally over 400 people. all claimed asylum. in the mcallen area 1000 were apprehended in a 24 hour period. in that part of texas, 2200 have
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been released into america just since monday. how are they getting to the border these days? we'll tell you? by express bus direct from guatemala. $7,000 per adult per child, quick trip, about 72 hours they arrive within walking distance of the border. they walk across and demand asylum. they're in. it is democrats who encouraged them. it is the democrats who are doing their best to keep them here. no border wall, sanctuary cities and states, abolishing immigration enforcement. that is an open invitation to come on in and stay. i doubt that any democrat will accept any responsibility for the mess they are have helped create. so every single presidential wannabe should be asked the question what are you going to do about this? the second hour of "varney & company" is about to begin.
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♪ stuart: check the big board. we're now up 58 points. that is turn around the latest read on mortgage rates. ashley, pay attention. >> i'm just watching the board. it is 4.28%. stuart: really? stuart: down from 4.31% last week. stuart: ouch. stuart: look, freddy says, freddy says this. there is better affordability because house prices are coming down, inventory is going up. mortgage rates are coming down. could be one of the best spring selling seasons in the last few years. liz: i'm as stonedded by this. people were saying 5% rates, 6% rates. look at this rate, 4.3. this is historically low. it is astonishing. >> house prices are coming down. they say a good spring selling season is coming up they believe. stuart: would i like to see it. staying with housing, gary kaltbaum joins us.
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gary, jumbo mortgages, too big loans to be handled by fannie or freddie, they have fallen by 12% in dollar value for the past year. i think that is bad news for lenders, what does it tell but the housing market? >> it's a cash cow for lenders. demand is down, prices are down on high-end, very important areas around the country. that is what is doing the trick. as far as housing i don't think the biggest of the big deal. most is done middle to lower price range. i don't think it is that big of a deal. the fact of the matter is interest rates are basically nosediving now which will provide some tailwind, we move in the next few months. i am pretty much guarantying by the next move of the fed will be to lower rates. i think that will happen by the end of the year. that should help also. stuart: whoa, there is a revelation, gary kaltbaum. you think the next move by the fed is down? interest rates quite right, 2.51% on the 10-year treasury. is that a sign of economic
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weakness? is that why the market has been trending a little lower recently? >> yeah. i think it is, but i don't think the end of the world economic weakness. i think has more to do with the globe. i think you have contractions in areas of europe and japan. i think china gives out fake numbers. so i think that is it. i really don't see recession here. anything is possible. i really am a big believer in the markets. i do believe lower it rates are telling you something. i think powell missed the boat for a few months but now he is on top of it. again the next move. i pretty much 100% guaranty you the next move is lowering rates. stuart: careful, gary, 100%? >> i can put it out there. stuart: you may be held accountable unfortunately. >> that's okay. accountability is fine. stuart: you made some news for us. you really did. gary, thank you very much indeed. see you soon, son, thank you. actually he is going to stay there. i have something else in just a moment. i want to get back to my
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editorial. i'm saying the democrats, they're the ones responsible for this crisis on the border. look at this statement from congressman vincente gonzalez. he is a texas democrat. president trump, secretary nielsen and the entire administration have been presented with the truth, there is no crisis on the u.s.-mexico border. their response? create one. stuart: what? stuart: joining us now, kayleigh mcenany, trump 2020 national press secretary. kayleigh you know what i have to say. the democrats now said trump created the crisis. your response please? >> not so at all. democrats have created this just as you said with their open border policies. you already have democratic 2020 contenders talking about tearing down portions of the wall that exist. what does that do? it acts as magnet for men and women, many who are vulnerable making a dangerous journey to the southern border, coming into our interior. it is ridiculous theory to say it's a manufactured crisis. stuart: homeland security secretary will be there at the
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border today, looking at this first-hand. i expect this to be major news tonight. because that crisis has arrived. last quick word to, kayleigh. >> that's right. you have 76,000 illegal immigrants one month alone. we're expected to hit more than a million this year. that is an influx. something must be stopped for national security and humanitarian reasons. stuart: kayleigh, we'll break away for a second. better check the big board a nice move up in the last few minutes. we're up 68, 69, 70 points. 25,800. a couple of individual stocks. look at micron, chipmaker. they say there is going to be a recovery in the market for memory chips. the stock is up very solid 7%. i have to tell you that microsoft has hit another record. ♪ obviously i'm very happy about this. i have a thin sliver of the company. liz: thin, thin shriller.
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stuart: one share. remarkably thin. let's get serious for a second. new zealand the prime minister announcing an immediate ban on military-style semiautomatic weapons. that is in response to the mosque shootings. come back in again, kayleigh. still with us. the democrats will make this an issue. bernie sanders already has. he is demanding gun control here just like they have just got over there. your response to that? >> we have a second amendment. it protects gun owners in the country. it is a bedrock freedom here. not only that, from efficacy perspective, look at france which has some of the strictest gun laws in the world, nevertheless some terrorist attacks were carried out with weapons legal under french law. bataclan theater attack, "charlie hebdo" attack all these despite being illegal these weapons were used. tragedy what happened in new zealand. my heart goes out to the men and women but this isn't answer to stopping the problem.
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stuart: as 2020 press person, look at quote from house majority leader whip, jim clyburn. adolf hitler was elected chancellor of germany, he went out about discrediting institutions that people bought into it. nobody believes it now but swastikas hung in churches in germany. we better be cale. that is direct ling-ling president trump to hitler. your response. >> they are supposed to lead fair investigation into the administration. it is egregious, despicable, compare this president someone to a dictator who killed millions and millions of jews. there is one party with anti-semitism problem. it is the democrats. they have antisemitic individuals in congress made horrible statements. failed to condemn it. moveon.org saying none of the democratic 2020 contenders can speak at aipac.
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they can't speak to jewish americans in this country. it is despicable. they need to take inward look. they go lower and lower every day. they don't surprise me when they come out with comments like this stuart: kayleigh mcenany thanks for joining us on very important subject. >> thank you, stuart. stuart: quick question. do we have gary kaltbaum still there? i wanted to go back to him he said the next move by the fed is down. when he said it market went straight up. i want to give the man credit. i will do later on as well. you're looking at white house. president trump will sign an executive order on campus free speech. he will tyree search and education grants to enforcement of the first amendment. in other words if a school censors conservatives they don't get money from the feds. good stuff. more calls from the left to shake up the supreme court. all kinds of ideas, more justices term limits. changes how the justice are picked. i think it is sour grapes over
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kavanaugh, losing the election in the first place. we'll see what judge napolitano has to say about that. he is here later this hour. big blow to venezuela disputed president maduro, a major american bank selling billion dollars worth of venezuelan gold. they were holding it as collateral for a big loan. maduro is not getting the money. full details next. ♪ cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪
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stuart: we're not the high of the day but certainly up there. 25,800 is the level. darden restaurants, that is the parent of olive garden. sales are up, opening new restaurants. the stock is up a neat 6% there. apparently olive guarden is doing very well. boeing, they will install extra safety alarms in the 737 max jets. it will include a warning light. boeing stock 370. very depressed where it was a couple weeks ago. citigroup plans, says, it plans to sell several tons of gold, venezuelan gold. liz: yeah, this is a big fight citigroup is now involved in with maduro and guaido. maduro's regime, basically borrowed $1.6 billion from citi.
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citi said the collateral will be gold, $1.4 billion worth of gold. citi wants the gold, because venezuela blown pass the deadline to repay the loan. watch this, the bank of england is sitting on the gold. the bank of england won't work with the maduro regime. will citigroup get its money. stuart: i don't care who gets the money as long as it will not be maduro. whether the bank of england keeps it away from him or citigroup keeps it away from him i don't care. liz: citigroup runs control of pedevesa the oil unit. a big fight. stuart: we're really feisty this morning. rightfully so. staying on venezuela earlier this week john bolton on this program said all options on the table when it comes to getting maduro out. doug band do you with us, senior policy advisor at the cato institute. i know where you're coming from,
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doug. you don't think we should use military intervention, i got it, but if we take it off the table we have no threat. so you don't take it off the table, you don't necessarily use it. what do you say? >> the problem if you're going to make a threat you have to be willing to live up to it. so the challenge for us if we make a threat we're really not willing to follow through on then we lose credibility. to my mind you use the military for absolutely essential things, it is the last resort. we don't have that here. it is an extraordinary challenge how to get rid of maduro. he needs to go, far more political problem, not a military problem. stuart: should we use the cia? i realize i'm going back to the late 1950s or something. why not? why not? the guy is corrupt socialist dictator. he is killing his own people in the street. why can't we have the cia have a quiet word with couple generals, get him out of the country, why not. >> if it was that simple it would be nice to do. the challenge of course who
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replaces him. we can't be certain whatever follows him will be something better. the question is how can we make it easier for the people there to overthrow him. what we're doing now has had extraordinary success building international support. other latin american companies are willing to push on this. we need to keep this up. he needs to be under pressure but we want to be very careful about he blowing things up in a way that could explode badly for the people there. stuart: i take your point, doug. i'm not bloodthirsty. i'm not eager to drop bombs all over the place but i want to get the guy out. i want long-suffering venezuelans to get a little freedom. how long will it take? how will we do that? >> there is no easy answer, that is the problem. the military there still supports him. the question how do you change that? he put people loyal to him in positions of power. they get the benefits there. that is the toughest thing. as long as he has the support. the question how do you change ha? i think that is question how do you empower people there.
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stuart: isn't the key thing the cubans? we're told it is the cubans who are keeping him in power. the cubans have guns on the ground and they're keeping him in power. they are the problem, aren't they? >> they are a huge problem. there are 1000 or more cuban agents there, thrust into different agencies. they're helping to protect him, keep the reg dispeople going. stuart: what should we do about them? >> that is pretty tough. the cubans ignored the united states and fought us for a very long time. my hope is to see cuba go at some point. they have an economic problems. people there are tired of that regime. when raul castro goes i think there will be a lot of change in cuba. that we need. stuart: i'm not prepared to wait but maybe you are. i don't know. we're neither venezuelans. doug, cato guy, thanks for joining us. >> happy to be on. stuart: thank you, sir. veteran news ran, ted koppel going after his colleagues in the media being so anti-trump. ted koppel, how about that?
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we'll tell you what he is saying after this. ♪ (indistinguishable muttering) that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade.
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stuart: we're almost exactly at 25,800. there you have it, up 53 points. look it, please, biogen, drugmaker, big set back for their alzheimer's treatment. frankly it didn't work. the stock is down. the stock of the company lost a quarter of its value. this is financial story but it is really a medical story and a huge disappoint for millions of people who were affected by this condition who had some hope this treatment worked. they have abandoned it.
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finished. california growing too much marijuana, vast oversupply. tell me more. liz: four times what the market can digest. oregon too. watch california, california state officials are saying you know what? we were way too aggressive. our taxes were way too exorbitant. created a black market, drove pot underground, people in the industry saw barriers from high taxes and regulations. that california is possibly moving to cut taxes on the pot industry. stuart: let you have recreational marijuana, tax it. liz: that's right. stuart: so much marijuana is on the vote that undercutting high price, cutting taxes. they will never cut tax. >> they found their high taxes created the black market. people avoiding taxes selling it into the black market. stuart: lesson in economics. ashley: will they learn it? no. stuart: probably not. this is interesting. ted koppel, veteran news guy, he
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is calling out his media colleagues because they're anti-trump. what did he say? ashley: anchor of abc news's "nightline." i think he is trump fan by the previous comments. but he does feel compelled to declare that the president is right establishment press is out to get him. we are talking about orizations i believe decided as organizations that donald j. trump is bad are to the united states. we have things appearing on the front page of "the new york times" right now that would never have appeared 50 years ago. he is right. the president has a point. he goes out to criticize not only "the new york times" but also "the washington post." he said who are these papers? stuart: there is nothing wrong with expressing opinion on editorial pages. ashley: on the front page. stuart: on the front page it used to be news. now it is opinion masquerading as news. ashley: yes. liz: the president is swamping his own message with his attacks on john mccain. stuart: that is minor incident.
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liz: that was a big deal. stuart: talking about the whole approach of the establishment media to this president. ashley: reporters identifying themselves as part of the quote resistance. he said what legitimate credible reporter does that? stuart: fair question. i'm just surprised to hear ted koppel, who occupies a real position in the establishment media. ashley: very well-respected. stuart: glad he turned around told us what i think he is the truth. then we have this the social security administration might be looking at your facebook page. they're combing through social media trying to catch disability scammers. is that okay with you? details coming up for you. federal judge blocking oil drilling in wyoming because of climate change fears. what will judge napolitano think about that. stay there, everybody. our producers are about to play for you one of my favorite songs. do it. ♪
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♪ hey, you have got to hide your love away ♪ stuart: wait a minute. we have fast-paced show. breaking news all over the place. the market is up what do we get, hide your love away. liz: are you singing? >> now i heard everything. liz: murdering it. stuart: i want more joe walsh. that is what i really want. check the big board. let's get the thing going. up 75 points on the
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dow industrials. don't you love it. 25,800. big neck names, microsoft at bottom of the screen, new record high. i will take it. heave vie straus, now, they're going public today. ipo out today. now indicating 20.50 to 21.50 per share. that is the indication. okay. i don't think it is traded yet. liz: upper band of it. stuart: went out at 17. expected to hit 21.50. got it. look at this. 10-year treasury, 2.25%. historically that is low. fed chair powell is not raising rates. there probably won't be any rate hike this year. listen what gary kaltbaum said about the fed and interest rates earlier on the show. roll tape. >> i'm pretty much guarantying you the next move by the fed
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will be lowering rates. i think that will happen by the end of the year. that should help also. stuart: he pretty much guaranties it. brad mcmillan with us now. brad, if he is right and the next move by the fed is to lower rates, wouldn't that give the market a nice jolt, a shot in the arm? >> it could, certainly could. but my fear that would be seen as an indication the economy is starting to roll over. removed because economy is still growing. reason to believe it is keeping growing. if the fed cuts rates, level of fear will probably be negative. stuart: do you think the fed's next move will be to lower rates? >> i don't. right now we're looking at first quarter. past couple years the first quarter always has been weak. we had real damage from the government shutdown which is fadings. i think we'll actually recover and growth is going to come back. stuart: okay. i know you like housing and i know you like the real estate
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sector. we reported this morning that the 30-year fixed-rate mortgage is down to 4.26%, i think it was? call it 4.25. ashley: 4.31. stuart: 4.31%. i call that a plus. do you think that translates into stronger real estate sector, stronger housing? >> i absolutely do. i think two things are going on here, stuart. i think affordability has gotten hit by higher rates. when mortgage rates dom back down, that gets people to buy. wage growth which is accelerated that also helps. second of all -- stuart: go ahead. your second point. go ahead. >> second of all, we have homebuyers they have had a kick in the pants. they want to act now. they know it. i think that will help too. stuart: if i'm a stock market investor, how do i play a rising, strong, real estate sector? >> there are couple ways to do it, from income standpoint, when you look at commercial real
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estate, lower interest rates are a positive. that adds to income. that makes dividend stocks, which real estate generally is, more attractive. plus you're also benefiting from a stronger economy. it is really a double-whammy on the commercial real estate side. stuart: i know you don't recommend individual stocks you say this sector as a whole will dom back nicely this year, correct? >> i think it will, yes. stuart: brad mcmillan, thank you for joining us. your answers are perfect. 15 to 20 seconds. sometimes i'm not ready with a follow-up. you're all right, brad, thank you. >> thank you, stuart. >> when will you say that to me? stuart: never. you know who is coming up next. let me get into the subject here. the democrats said they want to reshape the supreme court. some watchers, court watchers including the son of justice scalia say their arguments might
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be worth taking seriously. watch this. >> constitution does not say there needs to be nine justice. there haven't always been nine justices. theoretically that is something that could happen. and maybe an argument worth taking seriously. stuart: well, judge napolitano is here. he is the host, by the way of the liberty file on "fox nation." you heard what the son of justice scalia had to say. is he in favor of expanding the court? >> no, he is not in favor of expanding the court, what he was talking about in the clip, when fdr attempted to expand the court in 1937, it had the effect of changing the attitude of one or two justices and the new deal legislation, which the supreme court which had been invalidating, it began affirming. it was entirely different demographic. you had a liberal president and the old-timers on the court were conserve at.
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-- conservative. now you have a conservative president and all the old-timers are liberal. their suggestion would require a constitutional amendment which is a nonstarter. stuart: you don't need a constitutional amendment to change the number of justices on the supreme court. >> that is correct. what they want for republicans in congress to pick five, democrats in congress to pick five. those 10 to pick another five. that is a radical change from what we have. >> ridiculous. >> would require 2/3 of congress, 3/4 of the states to agree. will not happen. stuart: want to take the power of nominating the supreme court justice from the president. >> right. they don't like this president. they suspect when he is reelected he will have a chance to put more people like justice gorsuch and justice kavanaugh. stuart: putting another two justices on the supreme court. >> sorry to say this, many are wringing their hands for not
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having forced, forced justice ginsberg off the court while barack obama was still in the white house. they asked her to do it. she basically told them to take a hike. she says i have a lifetime appointment. i intend to serve my full term. stuart: wow. >> not a bad answer. stuart: got to get to this. federal judge in wyoming blocked drilling of 3,000-acres on federal land the government didn't take into account climate change. what is going on? >> for you i read a 50-page very technical opinion and 100-page mind-boggling statute. my conclusion the judge is correct. it is not a liberal judge. it's a judge interpreting a very, very liberal onerous statute, requires bureau of land management to allow a lease drilled over here, ascertain the
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effect over here. between my fingers up with hundred miles. stuart: that statute was in 1970 as. they didn't have climate change in the 1970 as. >> the law is still there, but court has no opportunity to enforce it as written. stuart: they're interpreting it as way it is written to climate change. the environmental its are all over this one. >> the bureau of land management used statistics to suggest what would happen to the land over here 100 miles away rather than actual examination of the earth which is what the statute requires. i think the bureau of land management was trying to put into public policy what the president wants and what the president believes the public wants. they issued 800 drilling leases without adequately ascertaining the environmental effect much those leases. the leases will eventually be given but not during this presidency. it will take a long time for this to happen. stuart: you know, you really begin to flea and tick me off.
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>> i thought you were going to say your answers are wonderful [laughter] stuart: stay there. i will bring you into another discussion which i'm about to have with ashley. ashley: all right. stuart: social security administration checking facebook, social media sites to catch disability scammers. fell me more. ashley: that is exactly what they do. you say you have a disability. see on the social media platforms, facebook, whatever, water skiing, hiking doing whatever. they want to have access to the social media to evaluate whether your disability claim is valid. the problem is, many people use private setting on these social media platforms. they don't use social security numbers in any way. so how is the social security administration allowed into your private area to look at pictures that could have been doctored anyway? stuart: so what are they going to do? are they going to ask? get a court order or something? ashley: that is the issue. stuart: the judge is here. what can they do? >> if they look at what you publicly post there is no right to privacy. if they look at what i post to
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you or post to me, there is a right of privacy, they need a search warrant to get in there. stuart: social networks are public, aren't they? >> vast majority are. most people publish for the world to see. ashley: yes. >> social security can look at that such as law enforcement and you and i could. stuart: i don't have a problem with that, do you? >> no. you walk around the street holding up a picture like that, put a picture on your iphone, there is no right to privacy. stuart: really? there is no right to privacy? i have no right to privacy for anything that i put into this thing. >> no. you do unless you publicize it. ashley: post it publicly. >> unless you post it publicly. what you post publicly you wave your privacy interest. stuart: do i post it publicly when i put it on facebook? >> depends on the public aspect of facebook are or just your internal group. if it is your public aspect it is public. stuart: if i had a twitter account which i don't and i did,
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i posted a picture on twitter account is that public. >> i think you lost the right to privacy, if you had a twitter account, knowing you would have tens of millions of followers, showing the picture to all of them. you like the answers. stuart: that was flattery. that was wonderful judge. come back soon. listen to this. proposals to raise the federal gas tax to pay for infrastructure getting rare bipartisan support in d.c. grover norquist, he hates tax increases. what would he say about that? he is on the show. later today president trump will sign an executive order on free speech on college campuses. i want to know, what's happened to our country that we need a presidential order to support free speech. my goodness, me. more "varney" after this. ♪
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♪ ashley: harmeet dylan, national republican lawyers association, social media companies may be harder to regulate because they don't follow the same rules as traditional broadcasters. roll tape. >> for one thing there are
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regulations that protect these social media companies from lawsuits in a way that, for example, fox news and other television broadcasters don't have protection. if they're going to be engaging in publication and censorship, weighing different opinions then they do not need protection from liability for their actions when they do that. that is one thing under the communications decency act. the other thing, big tech companies misrepresent what they're doing which is consumer issue. federal trade commission and other government agencies can take action based on existing laws and i hope they do that. ♪
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stuart: not quite the high of the day but we'll take it. we're up 84 points, 25,830. levi strauss initial public offering indicated to go out at 21 to $22 a share. today is the first time you got a chance to buy into levi as a public company. when it starts trading it should be around 21, $22 a share. we'll take you right there when it starts. president trump will sign an executive order today protecting free speech on college campuses. joining us cabot phillips, campusreform.org media director. cabot, first of all, how on earth did we get to the point where we need an executive order from the president to protect free speech? how did we get here? >> so many americans ignore what
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goes on college campuses. american universities for a long time are biased. people are resigned to fact. that is how universities will be. they ignored systemic oppression of conservative ideas. now it is finally coming to the forefront. i will be at white house today for the signing. hope to get more specifics there but i applaud president trump making this issue for his campaign. i been on 100 campuses with campus reform and see how easy it is for conservative students to be shut down systematically by administration. i applaud president trump bringing this up. this is great day for free speech. stuart: i think catalyst for this, what got the whole thing going was the punch in the face to that young man who i think you know, hayden, i think his name was, in berkeley. that is what got this whole thing going. there he it is on the screen right now. that is disgrace. >> that absolutely played a good role. hayden is friend of mine. he is hero for many people for standing up. it also underscores how
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important it is for people to gather evidence when attacked like this happens. so you have a powerful compelling message. i see a lot of people on the left, knee-jerk reaction, coming out opposing it because president trump putting it forward. wrote op-ed in san francisco chronicles because liberals should be most support i have. this will help them also f you're a liberal student on campus you're less informed because of many conservative counterparts. you're not intellectually challenged. you hear the same ideas in class. this will help bring ideas to campus. challenging people to help and grow. stuart: i know you don't know details yet, but the broad outline you don't get money from the feds if you don't allow and install free speech. broadly speaking that is it? >> exactly. how novel of a concept, if you're not allowing the first amendment of the constitution to flourish on your campus, you don't deserve billions of dollars in our taxpayer money? this is empowering message for conservatives around the
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country, to see their president cares enough to make it a big issue for the administration. students are standing behind him punished using word mankind in essay or shut down by professors daring to start conservative group on campus or administration pull funding from the groups because they didn't like political ideas they were espousing. this is things all americans should agree on but sadly it is one-sided issue to exploit the first amendment. stuart: there is expression, you can't make this up. that is so valid. cabot, thanks for joining us. see you real soon. >> look forward to it. stuart: google getting into videogame streaming. basically netflix for videogames. you don't even need to download them. they're beamed to your computer over the internet. there is a catch, if you have a slow internet connection, it won't work very well for you. so here's the question. could 5g solve that problem? more on that, more "varney" after this. ♪ want more from your entertainment experience?
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stuart: you like this. ashley: oh, my goodness. stuart: a couple in texas bought a giant steer or cow into local petco store. why would they do that?
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liz: he is a texas rancher. i will call petco's bluff, all pets are welcome. put a leash on the steer. this is african watusi. look at horns. he didn't expect the reaction. petco workers greeted steer with open arms. he put the video up on facebook. this is no china shop. this is funny scene. ashley: who cleaned up afterwards? stuart: texas. great state. gaming revolution. here is a revolution. google is launching a videogame streaming service as we said. basically a netflix for videogames. they're beamed to your computer over the internet. gail dickey with us, "gamer world news" entertainment ceo. gail, explain this to me. sounds like this is game-changer. when google gets into this, changes the game? >> yes i think it's a game-changer. we're looking at streaming.
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we're looking at eventuality of 5g and mobile traffic and connected devices increase will be important. i was there yesterday, witnessed it for myselves. it is very fast. takes five seconds to download. really kind of interesting experience because you can really play seamlessly across any device that will be a game-changer. we'll see a lot of competition coming out of google. stuart: doesn't it depend on a fast internet connection? no -- >> well it does, right now, we were there with 30,000 people. we kept laughing how is it possible we get 30,000 people in the building, lightning fast and just the way they built it. it has its challenges because if you're streaming these games and, you don't own a disk, there is no ownership there, issue with that for a lot, i think a lot of gamers. i think that, as we move forward
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with google, they have to have the games. it is a business where he who has the best game wins. so look for microsoft and sony and, i just read this morning walmart announces they're possibly getting into the steaming business. right now i think the speeds are okay. stuart: what content do you have, that is the decider here? can you tell me how much google charges for this streaming service? >> so they haven't announced it yet and that is a really good question, stuart because when this business of unconnected, connected devices how many streaming services can you afford? if you want to play games on google, you will pay a fee. you will pay a fee on microsoft. but they haven't come out exactly how much. is it monthly fee? is it ad-supported? they're being somewhat vague. we talked with people at microsoft yesterday. i think you will see announcement coming out from them possibly around e3.
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everybody will be in the streaming business. who will be the netflix of the streaming industry? stuart: gayle, thank thank you r joining me and explaining this stuff. i really don't understand. levi strauss the ipo now indicating a price of 21.75, to 22.25 a share. when the trades start. you will be there. joe biden caught on tape calling trump supporters the drugs dreg is of society. i don't think they like looked down. my take on that. ♪ based on what's trending or an investing goal. it's real-time insights and information, in your own customized view of the market.
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stuart: 11:00 in new york city. a clock in the morning in california and president of california and president of the misery to the business roundtable meeting at washington d.c. this is close to the press, this event. if he speaks to anybody, any headlines have got it right here. but first, i've got a bone to pick with joe biden. here we go again. the elites looking down on us. it makes me angry. it reminds me of growing up in class conscious england. i didn't like it then and i don't like it now. joe biden made a speech six months ago.
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the tape has just resurfaced. it's very similar to hillary clinton's deplorable speech. watch the spirit >> small percentage of the american people, the people, near people, the earl of people. some of them the drugs of society. stuart: can't people do drugs of society. how is that different from hillary calling tens of millions of american racist, sexist,, xenophobic deplorable spirit it is no different and is just as big an insult. item number two, paul krugman, "new york times" columnist writes what is the matter with rural america? the only place where donald trump remains popular. it's all about blood and soil and racial hierarchy. what does he know? i know this. i don't like being looked down on. america doesn't like being looked down on the joe biden has a lot of explaining to do.
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the third hour of "varney & company" is about to begin. drink you will deal with the dregs of society in a moment. first let's get to the trump economy. vice president of sun distributors. i read your stuff and you're saying that the trump economic agenda is working. a lot of people say it's not working that great. you make your case. >> the trump economic agenda is working. reply 1% growth last year. wages are rising. that means more money in your pocket if you're working right now. over 7 million job openings. the fed chair pal yesterday reference that the labor force participation rate increasing was a surprise. household surveys are also on the rise. we have a very robust economy
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right now. stuart: you heard that the fed had to say yesterday. they did say the economy is slowing. >> they did say that the economy is slowing, that we may see 2% growth this year. even if growth slows a little bit, tax cuts and deregulation's are still key to the trump economic agenda. if you look under president obama's 10 year, we had a mere 2% growth over the entire eight years. i think most importantly we are getting the wage growth that hasn't been seen in a very long time. that's what matters to people. stuart: if we've got a strong economy as of now and into this year, are you bullish on the market? we've gone up for 10 years now. he think we can go out more this
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year? >> if you do recall in the fourth quarter we had a pullback and even though that was very short-lived, you know, a lot of investors are quickly discounting that. we are to have some sort of correction unannounced act about 20% for the high and we have a quick rebound in january if you look at the technology heavy hitters face. amazon, netflix and google. they are still heading higher even if we have a slower growth environment. still pretty optimistic on u.s. gross. i think that global growth is the biggest risks are concerned as fed chair pal also pointed out to be a problem that could spill over into u.s. financial markets. stuart: so i should not sell my microsoft, correct? >> wow, i can tell you personally what to do. technology is having a good run
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and i'm very optimistic and bullish on the economy. stuart: thank you, heather. we appreciate you being with us. we are waiting for levi strauss to open. first day of trading as a public company. pay attention to the bottom right hand of your screen. the dow was up 160 points. at the scene about the opening of levi. go. >> here we are it's indicated that open. they've been saying they have 5 million volume. that's about the level you would expect them to openly buy out because they typically come in when they get about 10% of the shares, which is 36 million. we are expecting it to open at any point. the ceo is probably 12 to 15 feet away from me here. he's been standing here the whole time. the back of his head of his head hear he's got super short gray hair. here it comes. you can hear the traders
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yelling. they are telling folks what the indications are where the stock is going and what the volume is. goldman is leading us in a tender take a while to open. [inaudible conversations] .co. we are going to come back when we get a price. stuart: okay, we've got you. get in their strong wearing your levis. a lot of people on the floor wearing levis. i wonder if they gave managing. we knew this was coming. he took on general motors for closing a plant in ohio. here's what he had this say about it. roll tape.
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>> the best economy we've ever had here the lowest unemployment we've had in 51 years. and what's going on with general motors. get that plant open or sell it to someone and don't open it. let's have a look at general motors stock this morning. all car companies have been under pressure a lot this week. ford motor company exactly the same. gm -- they're just opening. levis just opened. the price was 2256. that's the price we got on our screen. that would be up from the $17 offering price. the actual first-rate price that was considered a high anyway. that's what it is.
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question, would you buy levi strauss.? you don't much about the company. ashley: by which you know and like. i wear a lot of levis, always have. stuart: you've got to wrangle a guy -- wrangler guy. looking down his nose. transfer is not a lulu bauman yoga pant guy either. stuart: levi strauss right now just opened for trading and became a publicly traded company. daughter. there's a big stories that are happening later on today. we are going to line them up for you. president trump set to sign in free speech on college campuses the lookup.funding for campuses that do not promote equally all political ideas inside and outside the classroom. homeland security secretary heading for the border. mcallen, texas to be precise.
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she'll be meeting with top i.c.e. brass and local officials to discuss state offices. she's going to the border because the crisis has erupted on the border. it's happening right now. there were hundreds of people walking the streets because the government facilities. that is the crisis and it's just occurring right now. calm down, stu. let's start with apple. it is up today. by the way as it goes up it has surpassed microsoft in total market value. to upgrades for apple today. look at it go. 3.5%. six backfire on apple. 194. since november. wasn't so long ago it was 150. nike earnings report appears after the closing bell today.
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loads of controversy and that will allow. they have dragged on the stock, but not now. pretty close to an all-time high. the big numbers after the close today. i hate to say the stock of the day. certainly the disappointment of the day. the stock is way down. 28% down. the alzheimer treatment was just not effective. they are cutting research on the whole line of treatment. they tried to attack the plaque in people's brains of alzheimer's. the approach did not work. they were the last holdout to try that attack didn't work. the stock is down $91. senator marco rubio responding to the sour grapes introducing a bill that would keep the amount of justices on the supreme court firmly at nine. senator kirsten gillibrand running for president and she
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wants to get social security benefits to legal immigrants. joe biden has some explaining to do after his comments calling trump supporters the dregs of society. sounds like hillary clinton and the deplorable to me. we are on it. third hour of "varney" just getting rolling. ♪ thy gums and strong teeth. complete protection from parodontax.
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stuart: senator marco rubio wants a constitutional amendment that will keep a number of justices on the supreme court currently at nine where it is now. it's a response of some 2020 candidates who want to expand the courts and maybe packet with her packet with their own left-leaning appointees. no word yet on introduction that would surely take a generation to get it through. let's get back to my editorial from the top of the hour. i want to play that clip on runtime. joe biden having his own deplorable moment. >> here and let people, some of them the dregs of society. stuart: the early people, some of them the dregs of society. come on in, kristen tate, and he was wearing a taxi bill calling. go at it, please.
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>> this could become the deplorable moment. it is such a politically foolish thing to say. when hillary clinton called trump supporters deplorable, and they responded by embracing the term and wearing t-shirts that said deplorable across the front. if joe biden were the nominee with the trump supporters wearing t-shirts that say drugs. you inadvertently end up mobilizing them. say what you will about trump. he does seem to understand all its okay to insult individuals, especially those who attack you first, it is just not smart to involve large groups of voters who oppose you. trump has tried to win those voters over. that's what his time at the african-american vote and the union vote. >> he was forced to apologize or walk it back when he made the terrible mistake of saying joe biden -- i'm sorry, vice president mike pence with a decent guy.
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i don't think he will try to walk back the dregs of society comment. i don't think there'll be any apology they are, but i think there should be. >> well, there definitely should be. this could be especially damaging to joe biden if you get the nomination because joe biden would try to win as a moderate and he would only be a would've beat donald trump if you were able to reach a successfully to blue-collar workers and former blue dog democrats who went trump and 26 teams but those folks are not going to flock to joe biden if they think you might look down upon them. stuart: here is something else which i am truly astonished that on the campaign trail. kirsten gillibrand is a presidential candidate. she wants to get social security benefits to illegal immigrants. what do you make of that? >> just when i think the democrats can't get any more absurd with their calls for open borders, they outdo themselves
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by suggesting we should get social security to illegal immigrants. why would any americans come especially older folks concerned about their own benefit support a candidate who wants to have illegal immigrants to the social security system. this country is $22 trillion in debt. eventually the house of cards collapses and i don't see any faster way to collapse the house than by adding millions of illegals. >> it makes no sense politically. your politician. you count votes. how many votes among senior citizens, those who receive social security, how many of those will vote to give the money that goes to pay their benefits to illegals. that's a political miscalculation of the first order. 10 seconds for you. >> the democratic nominee eventually decides to embrace this that illegal should get social security they will lose to donald trump. there's no faster way to lose an election than to jeopardize
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social security benefits for older americans who are very critical voters intend to be very mobilized in presidential elections. stuart: that was 15 seconds but we'll take it. that was very good. >> sorry comments to her. thank you for having me on. stuart: a couple markets to check for you. the price of oil $60 a barrel. it hit that mark. that is why the price of gas keeps on going up almost 1 cent per day. now the national average is $2.59 per gallon. no winners in last night's powerball drawing. the jack potter $625 million. no one has won not since december and the next ryan is saturday night. what's that? say nothing. democrats continue to ignore the booming trump economy. americans have collected 800 examples of new hires, pay raises, bonuses.
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lots of good news following the tax cuts. we're on it. ♪ everyone's got to listen to mom.
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stuart: today's google doodle pays tribute to composer joe hunt sebastian mark. it is powered by artificial intelligence. you can place musical notes across the screen to make your own composition. these notes will be harmonized to sound like a bach masterpiece. 306 of the compositions to create this music. check base. a new doodling from the chipmaker. doesn't matter how terrible you are a drawing. this can turn graphite into gold. a new piece of software after the french expression of course uses artificial intelligence and a database of over a million photos to recognize which are attempting to draw and you've got yourself a piece of art for the fridge. check this. the world's largest planetarium is in shanghai. cost about $90 million to build
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good construction is almost done. it's made of 200 tons is dale. the dumbs diameter of 68 feet and is set to open in 2021. stunning footage broken up i.c.e. shards that started to pile up as it began its spring thaw caused by underwater movement making the i.c.e. shift inside. now that's beautiful. stunning. next case. raise the gas tax to pay for infrastructure. getting rare -- can you believe this, bipartisan support a gas tax hike. grover norquist is with us. he hates tax increases. what will he make of the gas tax hike? can they get to this high of the day. up 175 points. i wonder if gary kaltbaum did this. he said the next move of the fed is the lower interest rate. the market went right up after that you now up 176 -- 25921.
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♪ (bird chirping) lots to do, hope you fuelled up. sure did. that storm sure ripped through. yep, we gotta fix that fence and herd the cattle back in. let's get at it. (whistle) (dog barking) (♪)
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stuart: we like the spirit of 160 points on the dow. we just cross back about 25,900. trade reportedly president trump wants china to buy two or maybe even $3 trillion worth of american goods in the next six years that will be a lot more than originally proposed. treasury secretary mnuchiin and robert lighthizer go to beijing to negotiate next week. we perceived a list for americans for tax reform of 800 examples of the benefits of tax cuts. all thanks to the president's tax cut and reform efforts. come on and grover norquist, president of americans for tax reform. all good stuff. were stuff. were going to list these benefits on the left-hand side of the screen. take me through these bonuses and pay raises. >> remember when they first came out with a tax cut they were immediate bonuses but that was a down payment.
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we have 800 companies that said because of the tax cut we have hired more people come, increase wages, gotten the benefit and that new investments in the united states of america. we've seen 700 yen dollars flow back from overseas and the united states. these are companies telling you here is what we did but the tax cut we got and why the economies can make it better. it's great anecdotal stuff but not something that happened. the company itself said by the way this is because of the tax cut. stuart: 800 companies. are we still getting the effects of the tax cut? do they run under 2019 or is it all over and that's it. >> when it was first passed we were told it will take three or four years for all this new investment to come in the united states to be invested and then you'll see higher wages and more jobs. we saw the higher wages and more jobs immediately and we still
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have yet to anticipate a higher per cavity because 700 billion/trillion dollars flowing into the economy. it's not just american earnings overseas. his people going let's invest in america. stuart: it's got legs. that's what we want to hear. i'm told democrats are trying to make it easier to raise income taxes. i don't know how you do this. tell me. >> republicans put a rule in the house. takes prefix, not a majority because taxes are as per minute as constitutional amendments that make it difficult. as soon as democrats demand him in the first thing they did was to get rid of. a simple majority to raise taxes. they did have a discussion. maybe we should make it easier to raise taxes on rich people do not lower income people. no they said here we make it easy to raise taxes on anyone. for instance gas tax. stuart: where do you stand on the gas tax because i hear it is
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a proposal with support from it among democrats and even republicans a painless way to get money for infrastructure. where do you stand on it? >> the painless way to raise taxes when it's put on the ballot in arkansas a lost 8020. when bill clinton raised taxes on gasoline he lost the house and senate the next time around. it is not only not painful. it is the one tax people are poked and reminded about every single week. elizabeth warren is smart enough to go i'm not touching that one. i just wanted to ask other people. if any republican was foolish enough to vote for it and begin chamber of commerce endorsed it. that not bipartisan. they always endorse tax increases. that's an old story. it not a new story. i don't think it will happen because if you want a third more roads which raises the cost of government road and bridges.
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if you want my roads and bridges get to the 20% siphoning off which goes to six cities, metrorail since no one, not to bridges and roads. the reason they say infrastructure instead of roads as they have no intention of using this money for roads. infrastructure is a french word. not that infrastructure means. stuart: all of the things you suggested require the republicans to run how often they don't. >> well, we can't tell democrats. why would you possibly think of raising taxes when you can get 40% more roads by getting rid of some regulations in the people who go after gasoline money. they passed taxes for road and then the money shows up in other areas.
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they spent it on other stuff. there's no excuse not to reform other spending end of the money they are. we are talking about $200 billion new over a decade. there is than $20 billion away somewhere. there is an $20 billion you could reform. of course there is are they just want the money. stuart: guaranteed. always on the money. >> we will win. we will stop this. stuart: you say the very best for last. grover norquist, thanks for joining us. and thanks for that list. we were scrolling along the side of the screen. that is good stuff. thank you. i have news on bernie sanders in the campaign announcing they are going to go green on the campaign trail. liz: they are going to spend campaign donations on carbon offsets. let's back up here. here's what happened. this is important. the clinton campaign went after
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bernie sanders calling him his royal majesty for spending hundreds of thousands of dollars supplied only private jets. not commercial. now sanders is taking that to heart insane will be a carbon emission free campaign. the voters out there may want to ask bernie sanders what are your policies to fix the country? stuart: he takes in campaign contributions and then says i'm going green. i have to offset all the co2 emissions may create with my private jet. therefore in putting that money here which offsets those carbon emissions. ashley: is cofounder of the great new deal. should we be taking trains everywhere? >> you sign on to the great new deal. ashley: he's not a cosponsor? stuart: no, ed markey. but the vermont-based investment shot to do the buying.
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i'm flabbergasted frankly. >> put it out there and let some might be to disinfect and if others don't like it then don't vote for the guy. that's the best way to respond. we don't agree with what he is doing. transfer clearly that got under his skin. they exposed him for only flying private jets despite his screen persona. stuart: let's have a look at the stock of the day which actually is now levi strauss. they went public today first time ever you could actually buy into it. the stock right now is 2285, up $5.86 from the $17 that went out on. there's a great deal of interest biting into levi strauss. the genes peoples docks doing
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very well on its first day. 34% as of right now. a look at facebook. some passwords that were stored on their servers were in readable format. those passwords are not available outside the company they say and there is no evidence that anybody at the company viewed them. still stuck in the doldrums around the mid-ones exceeds right now. the veteran news guide ted koppel. he's been in the tv business nearly a half-century. he's seen it all in the same and colleagues in the mainstream media for the anti-trump bias. we will tell you what he said next. ♪
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stuart: a truly dreadful disappointment in medical news this morning came from biogen. they have abandoned their treatment for alzheimer's. they were trying to the plaque for the people who develop alzheimer's. it did not work. the stocks -- trim for what a
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disappointment. $17 billion for half of the market value. this is a real disappointment for the whole site or. stuart: which begs the question ever showing so much promise early on. stuart: quickly show me the big board, please. we've got a rally in progress here. the dow was up 150 points. that puts it about 25,900. that is a rally. back in a moment. we need tech that helps people understand each other. that understands my business. we've got some work to do... and we need your help. we need your support. let's expect more from technology. let's put smart to work. ♪ ♪
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stuart: citigroup says it wants to sell several tons of venezuelan gold that are received as collateral from the majora regime for a loan. they can't repay the loan, said the bank says were going to sell the golden unicorn to get the money. transfer clearly an indication there is desperate for u.s. dollars, desperate for sanctions, fighting hard against the oil sector which -- stuart: without the bank of england. the money is not going to maduro. ashley: default him alone the loan you give up collateral. it is no secret president trump has a contentious relationship with the media. he is constantly badmouth by numerous outlets. ted koppel, widely respected journalist of the old-school
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coming to the president's defense. here's what he had to say. quote, we are talking about organizations that i believe have in fact decided as organizations that donald jay trump is bad for the united states. we have things appearing on the front page of "the new york times" right now that never would've appeared 50 years ago. there he alters with. nationally syndicated talkshow host on salem radio. i'm very glad to hear a veteran journalist of the old-school steadiness because it needed to be said, larry. >> stuart, of course it needed to be said. we really need to give ted koppel a cookie for saying the obvious? you said respect i am happy he said it. crying out loud 90% of the news on donald trump has been negative according to pew research. only 7% of reporters self describe as republicans. the "washington post" has never in its history endorsed a republican for president. they haven't done it since 1956.
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the former executive editor of "the new york times" wrote a book about her former company and she took some jabs at it and said many of the headlines masquerade as opinions in the newspaper is decidedly anti-trump. i'm happy ted koppel has stated the obvious but it's been obvious for a very long time. the media are against republicans in general. stuart: it is more than that. it's more than just having your entire staff for the opposition in hating trump. what is going on here is the undermining of traditional journalistic or personal values. you should not have opinion on the front page of your newspaper masquerading as news. it is opinion and that's what we've got. the whole profession has been undermined by these people. >> absolutely. all i'm saying is this is a trend going on for a very long period of time. the media was anti-reagan, anti-george w. bush. the media is overwhelmingly
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pro-life, pro-$15 million minimum wage. the media are overwhelmingly in favor of it. barbara bush once said she surprised when any republican wins because she believes the media are so against republicans. been going on for a long time. stuart: i will call you or california voice of reason. housing costs skyhigh. politicians want silicon valley in the bay area to fix it. i think the politicians are demanding a ton of money from the big tech companies. is that right? >> well, that is right. b. the two left-wing democrats to try and solve problems created by left-wing democrats. california does not have a single elected statewide. a supermajority of democrats in the state assembly. the reason we had these high housing crises is because of the left-wing policies including all the restrictions, the environmental restrictions, the
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rent control restrictions. all these kinds of things tell developers not to build and then they and moan and whine about the fact developers are building. surprise, surprise. stuart: when are you going to leave? >> again if you bought your house in the 80s you're doing okay. i'd rather stay here and try and turn this thing around and abandon it. my work cut out for me. stuart: use the wrong unfortunate word there. i'm not going to repeated that you want to soften your language there. whining and moaning. >> okay, to moan and whine about problems you created to me is a little bit cheeky. what is your reduce the regulations that cause housing prices to increase almost 50% because of the regulations. a frequent guest on my show is ucla economist leo hannigan who does not use language like that. he says because of the regulation the price of housing is 50% higher than it would have been but for these nimby
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regulations. we were not the problem. stuart: we hear you now. thank you on the sir. you better check apple. it is up to today. i think about three-point fiber sent. 194 on apple. at that level, and how many points did you say? apple is a down stock and because it is up so much it is contributing 43 points to the dow industrial average, which is just a 200-point gain. by the way, apple is now more valuable than microsoft when it goes up to 194 the market cap as they say is bigger than microsoft. show me microsoft word on you. we are a 11859. i never saw that coming, but there it is. later on today, president trump signs an executive order on free speech and campuses. what's happened to her country to read a presidential order to support free speech? we will discuss.
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stuart: this may well be the story of the day by the end of
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the day. homeland security chief kirstjen nielsen heading for the border, mcallen, texas. she is going to watch this crisis unfold. i believe the crisis is there now. liz: president trumps national direct your -- director of national and how soldiers testified and said this is a national security crisis what's happening. so did james clapper in 2016. president obama's director of national intelligence. that's in america. ashley: that's from the pockets of democrat party encouraging people to travel thousands of miles, spending thousands of dollars to get them here because they believe once they get across the border they are in. stuart: i think every presidential candidate should be asked, what are you going to do about this? i don't waffle. the crisis is now. it is happening.
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stuart: it's a manufactured crisis is what they're saying. stuart: this afternoon president trump will find a big executive order on free speech on college campuses. it will cut back government funding for colleges that don't promote equally all political ideas inside and outside the classroom. i think the catalyst for this was the punch in the face at berkeley. ashley: it is cringe worthy. not only are you not allowed to express it but then it comes with the violence and it was a turning point and that is why this proposal is being made. college campuses should be of all places the place where free speech. the sharing of opinions. transfer the federal taxpayer owned student loans. we own it. what's going on at colleges has to be has to be degraded because they operate on our nickel. they don't have properties, sales taxes that they get away with so much selling degrees that creates students that can't
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pay back their loans selling worthless degrees. it's outrageous how universities goucher families of high tuition. stuart: don't wear something on the administration's new plan? >> basically they are trying to curb the high rising cost with the massive student loan and no job. the administration is trying to limit the amount of loans taken out by graduate students and parents of undergraduate who pay for trade schools. they haven't given them forget, but the bottom line is by sara sanders put this come in many colleges and universities have not been providing americans the education they need to succeed in a good manner and they haven't. stuart: the stock market. we are up over 200 points. 25,948 is where we are. we were up a modest amount until about 10:00 this morning. and then along comes gary
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kaltbaum who is pounding the table saying the next move by the federal reserve would be to cut interest rates. that started. i don't know whether it was that they did it, but at that moment the market started to go out. give kerry the credit here. in the program a little bit of the credit for what you see on your screens right now. apple is up. microsoft is a period of hundred eight on the dow. back in a moment. ♪ i think i found my dream car. it turns out they want me to start next month. she can stay with you to finish her senior year? of course she can! [ laughter ] [ groaning ] hey! want to drive?
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really? [ engine revs ] do you think we can do this, rob? things will be tight, but we can make this work. that's great. ♪ . . ♪ principle. we can help you plan for that. do i use a toothpaste that whitens my teeth? or one that's good for my teeth? now i don't have to choose. from crest 3d white. the whitening therapy collection. now with charcoal or coconut oil. it gently whitens. plus, it has a fortifying formula to protect your enamel. crest. healthy, beautiful smiles for life.
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stuart: look at this. it is still going up some more. now we're up 227 points. 25,970, going like this. we'll be at 26-k pretty soon. ashley: yes. stuart: check levi strauss. they started trading as public company, not first thing today. i think they made the first trade around 10:30. 11:00. took them until 11:00. went out at $17 a share. it is now at 2273. you're up 33% from the offering price back then. a lot of interest in levi strauss today. i have a programing note for you. fox business network programing note. maria bartiromo sits down for an exclusive interview with president trump. now that interview, all of it, will appear tomorrow on mornings
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with maria. she starts really early. i got it bad, she starts at 6. the interview on the show starting 6:00 a.m. tomorrow. time's up for me, neil, it's yours. neil: thank you very much. following up the same market. up 231 points. i'm sure the president will be referring to that if this holds with maria. meantime a lot of this is battle between two sectors going different ways. technology when you're looking at strength of what is is the case with apple a brokerage firm says it's a screaming buy. micron technology being in the semiconductor area also leading an advance. we have

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