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tv   Varney Company  FOX Business  April 4, 2019 9:00am-12:00pm EDT

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rate. this looks really bad for ghosn. >> the prosecution has not presented any evidence. eventually we will hear it. we would hope eventually to hear his side of the story as well. renault has raised questions about his expenses. maria: yes. okay. you are saying they did their own investigation. we will keep following this. "varney & company" begins right now. stuart, take it away. stuart: good morning to you. good morning, everyone. the meeting is on. china's vice premier goes to the white house, a trade deal looks real close. there's more talk of a trump/xi jinping summit. the president tweeted that the china deal is going well. see the bottom right-hand corner of the screen. little impact thus far on stocks. it's not quite there but we will get it up for you. the trip is on. homeland security chief goes to the border. kirstjen nielsen gets a first-hand look at the worsening crisis. migrants are flooding across the border. they are totally overwhelmed.
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being released by the thousands on to the streets. elon musk is in the hot stae seat. his lawyers go to court today. he may be held in contempt for the unauthorized tweets. deliveries of tesla cars have dropped sharply and look at the stock, falling out of bed, down 10%. $30 as of now. that's a big selloff. look at this headline. "new york times." some on mueller's team say report was more damaging than barr revealed. here we go. the left disappointed by the no collusion report. through leaks from anonymous sources, they are about to retry the whole thing. stay right there. historic news on employment coming up for you. "varney & company" is about to begin. stuart: right out of the gate, president trump tweeting on the economy. here it is. despite the unnecessary and
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destructive actions taken by the fed, the economy is looking very strong. the china and usmca deals are moving along nicely. there is little or no inflation and usa optimism is very high. that tweet comes just as we've got new numbers on jobless claims, down to a 49-year low. now, what you're looking at, really, that is the firing rate, the layoff rate, only 202,000 people. that's it. ashley: that's an extraordinary thing. stuart: it's a very good sign for the economy. lots of good news here. trade, the economy, et cetera, et cetera. let's see if the market's ready to take off on it. gary kaltbaum is here. well, are we poised for a takeoff with all this good news? >> the only thing i would tell you right now is it's gotten a little frothy. we have had a big run. all my sentiment indicators are bright red right now. so i wouldn't bet against a slowdown, little pullback right here, but i think everything is
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acting pretty darned well. when technology's leading, you are never going to get a real bad market. i think right now, it may moderate as we head into earnings which is still a couple of weeks away. stuart: what are you expecting from these earnings? a couple weeks away is going to make an enormous difference to the market, i would imagine. what do you expect to see? >> earnings are not going to be great but it's all going to be about guidance and if the economy is starting to reaccelerate, i expect very good guidance and very good reactions. but i'm one that prove it to me and we'll see what happens. let's just hope we don't get too many tesla-type numbers. i think we should be okay. stuart: the show-me analyst, gary kaltbaum. he will be back at the bottom of this block. we want to talk more about tesla because that really is the stock of the day. gary, hold on for a second. back to the border. and that obvious crisis. fresh video this morning of illegals being arrested trying to cross and of immigrant camps just across the border in arizona. literally overflowing with people.
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dhs secretary nielsen travels to yuma, arizona today to meet with local officials there. president trump goes to southern california at the border, he goes there tomorrow. he's still talking tough about closing the border. come on in, senator john kennedy, republican from louisiana. mr. senator, you don't want to close the border at all, do you? >> i think the cure would be as bad as the disease, stuart. look, we got a problem. we're at the breaking point down there. the president's right. in march, we had 100,000 illegal immigrants come into this country and most of them came in and they're still here, because the asylum laws are -- they're broken. you could drive around washington, d.c., pick the first guy living under the interstate and ask him to draft new asylum laws and they would be better than what we've got. stuart: but you're not going to get a rewriting of the asylum
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laws any time soon. >> no. the democrats won't do it. stuart: so you will get nothing coming from congress because of this crisis, on this crisis, so what are we going to do? this morning, we are swamped, absolutely swamped at the border. >> this is what we need to do. number one, we need to get the wall built. number two, i wouldn't close the border. here's why. first, it will knock a point off our gdp and probably crash the stock market. number two, it won't solve the problem because if we close the border, we're closing legal points of entry. people are still going to come in illegally. number three, i would take another run if i were president at trying to change the asylum laws to look like somebody designed them on purpose and if our democratic friends refuse to cooperate for political reasons, i would wear them out. number four, i would ask the president of mexico, the president of el salvador, the president of guatemala, the
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president of honduras, to come to a summit and i would say look, guys, we're willing to put up a reasonable amount of money but i want to walk out of here with a specific commitment from you about how you're going to stem the tide of people coming from central america through mexico and coming into the united states illegally, because that's the problem. and number five, don't tell me the republican party of the american people are anti-immigrant. we welcome a million people to this country every single year, more than any other country in the world, but they come here legally and it's not fair to them to let 100,000 people a month come in illegally. stuart: believe me, mr. senator, i'm an immigrant and i felt a very, very warm embrace of america. >> and god bless you. with as much money as you make, stuart, think how much you contributed to our treasury. >> thank you, mr. senator. ruined it right at the end.
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>> i mean, you could buy rhode island if you want to. stuart: i don't want it. nasty. we have viewers in rhode island. i've got to read this headline in "new york times." i know you have seen it. some on mueller's team say report was more damaging than barr revealed. here we go. they are going to retry the mueller report. what do you say to that? >> i say did they give their name? no. duh. look, everybody up here, stuart, you know this, on both sides of the aisle, has an agenda. i've stopped reading these articles where anonymous sources. i want to meet anonymous sources some day. guy must be busy or gal must be busy because every news article is based on anonymous source. whoever it is, i can't judge their credibility. look, bill barr is going to release the report probably this time next week. i don't have inside information. and he's going to disclose as much as he can. he's a straight shooter. the permanent washington types,
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the ones we talked about before that drink goat's milk lattes and live in fancy condominiums, they will choose sides. they have already decided what their position's going to be. what i care about is what the american people think. and some of them growiare going look at it and others, frankly, don't care. they know russia tried to interfere. stuart: i've got to get to this real fast. this is a big deal. the senate is changing the rules to speed up passage of presidential nominees. tell me more, please. 30 seconds. >> we had to. we had to. we didn't want to. we begged chuck, senator schumer, to please stop filibustering. he's filibustered trump nominees 128 times. you know how many times republicans filibustered when president obama was president? 12. and it uses -- we can break his filibuster but it takes us a whole week. at this rate, president trump will get his people confirmed
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sometime about 2028. stuart: good lord. >> and we had -- we did what we had to do. stuart: got it. mr. senator, always a pleasure. rhode island or otherwise. thanks for joining us. we do appreciate it. thank you. >> thanks, stuart. stuart: two items on tesla real fast. look at the stock to start with. deliveries down 31% and musk's lawyers go to court today, defending against the s.e.c. charge of these unauthorized tweets. gary kaltbaum, is this the breaking point that pushes tesla way down? >> i think so. look, i think if we were still in that bearish market, the stock would probably be 150 to 175 right now, much lower. look, it is generous to say that they have been just inconsistent with their numbers and wall street hates inconsistency. elon musk cannot continue to come out and state numbers and miss them by wide margins just about on every quarter, or you are going to pay a stiff
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penalty. i really do believe this is going to open up more violations from the s.e.c. as we move forward. that is not good news for shareholders. stuart: yes, sir. gary kaltbaum, thank you, sir. appreciate it. see you again soon. check the overall market. how are we going to open up this thursday morning? a modest gain, maybe 16 points up for the dow, 10 points down for the nasdaq. a kentucky congressman, a republican, invited alexandria ocasio-cortez to his district. he wants to show her a coal mine, and what effect it would be with the green new deal. well, she accepted. she's going. the congressman will join us shortly. justice brett kavanaugh invited to teach a class and the students are furious. nato countries are paying more money. general jack keane on that, next. i'm working to keep the fire going
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call now to purchase your american eagle coins at cost, for the amazing price shown on your screen. stuart: the latest on the max jet from boeing. the ethiopian airlines pilot reportedly quote, followed expected procedures before the crash but they still could not control the plane. nonetheless, boeing stock is up, .7%, two bucks higher this morning. the nato secretary general says president trump's hard line is working. more countries, he says, are paying more money. joining us, general jack keane. general, that may be true, a lot of european countries, but it's not true of the germans, is it?
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>> no. no, you are absolutely right. first on the plus side, yes, by the end of this year, beginning of next, about $100 billion plus in the nato defense coffers than where we were just a couple of years ago. so that clearly is a step in the right direction. there is some honest burden sharing going on, something the president had a right to complain about. others have, but he was persistent about it and he certainly has made his mark here. germany, ironically, i'm so delighted you brought that up, stuart, their defense budget was 1.5% of gdp, gross domestic product. heading towards 2% by 2024. they have now decided to reduce their defense budget to 1.25% and they fully intend not to make the goal of 2% by 2024. so -- stuart: deliberate slap by
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angela merkel to president trump. >> yeah. so our viewers understand, germany represents the largest economy in europe and the second largest economy in nato behind ours, and clearly, they actually have a surplus, stuart. they're not operating in a budget deficit. the money is there. so they have clearly changed their priorities to domestic programs. i actually believe that part of this is because of president trump has been pushing for burden sharing. angela merkel is frustrated with president trump over a number of issues and i think that's the elephant in the room here, as she has lost political support in her own country and she's in her last term of office, going out. she clearly is frustrating her fellow nato members. stuart: i want to bring this up. our military beefing up its presence in the pacific to counter china. what exactly does that mean? what new assets are we bringing there? >> first of all, there's going to be more army troops in the
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pacific than what we have had in the past. even though people look at that as a maritime theater, clearly the truth is every country in the pacific has an army. so therefore, we are increasing exercises with them. the navy is committing more capacity to the pacific as well and what is in the news recently is that the philippines are looking at putting in a high mobility rocket system that's u.s.-made to put in the philippines to counter china's militarization of the south china sea. china wants to dominate and control the western pacific. they claim the south china sea is theirs in violation of international zones, both at sea as well as in the air, and what we have to do is shore up with our allies an alliance against china's move in the pacific to control and dominate it. so that is why the u.s. military is committing more to there.
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we have wound down the wars in iraq and afghanistan so there's more capability to do that. here's another data point for you, stuart. china has 355 combat ships now. that's more ships than the united states navy has. they are continuing to build more. they are seeking domination. stuart: hard line -- >> we are doing the right thing by pushing back on them. stuart: i've got to run. thank you, sir. always appreciate it. thanks very much. next, alexandria ocasio-cortez will go to kentucky. she's going to visit a coal mine. congressman andy barr invited her. she accepted. that's next. i've always been excited for what's next.
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stuart: this is a dow component and it's been hitting a series of record highs right now but not now. it's at $158 a share. amazon are going to move thousands of employees from seattle to nearby bellevue, washington. no impact on the stock. alexandria ocasio-cortez has accepted the invitation of her republican colleague andy barr to tour a kentucky coal mine to see how the green new deal would work out. congressman andy barr joins us now. congressman, thanks for being here. that was a very good idea. i'm glad she accepted. what exactly are you going to
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show her? what are you going to tell her? >> good to be with you, stuart. what we are going to show her is the real world implications of the green new deal. the green new deal, representative cortez's proposal of course is the centerpiece of the democratic party's march towards socialism and their wholesale rejection of individual freedom and free enterprise in america, and there are real world implications to this. we currently receive about 17% of all energy from renewable sources of energy and to move towards a zero emissions economy in just ten years would really require a massive reworking and reordering of the american economy in a way that would impoverish america. stuart: i've got to tell you, she will come right back at you and inform you of the real world consequences of rapid climate change. are you ready for that? >> absolutely, because for a cost of $90 trillion over ten
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years, you're talking about emissions reductions of less than 1%. look, to save the planet we don't need to destroy our economy. stuart: yes, sir, but wait a second. when she comes back at you and says you, sir, are responsible for the asthma attacks of young kids in the bronx, what do you say to that? >> what i say to that is the answer to whatever environmental challenges we have is not another thousand pages in the federal registry. i don't think another thousand pages of regulation is going to change the weather. i do think that innovation and technology is the way forward. what i want her to see in kentucky and what i want her to see with the fossil energy industry is that when free enterprise is unleashed and when the energy scientists and the innovators in the private sector are liberated, they can innovate in ways that are much better for both the economy and the environment. stuart: i've got to sum it up like this because i have a hard
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break coming. i think it's a very good idea to invite her and i'm very pleased she accepted. i think it's exactly the right thing to do. congressman barr, thanks for joining us. we look forward to the visit, by the way. we have news on the college admissions scandal. actress lori loughlin and felicity huffman appeared in court. is anybody going to go to prison? ashley: prosecutors have said they will ask for jail time for all of those who are convicted. what do those sentences consist of? well, for loughlin and huffman, anywhere from six to 21 months in jail. now, that said, will they go to jail, probably there will be some sort of pled-out agreement. unlikely they will but possibly in some cases, there could be jail time. basically, you are cheating on college entrance exams or bribing coaches to get your children into school. stuart: got it. thanks, ash. now, we have news on trade. we have news on tesla. we have news on boeing. tomorrow we get the news on jobs. it's another big day for you and your money. we will be opening the market shortly and we will take you there.
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stuart: happening momentarily, actually, china's top trade guy arrived for high level talks in washington, d.c. got to tell you that later on, he's going to head over to the white house for a meeting with
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president trump, then maybe an announcement about a summit with xi jinping. there you see him going into the office building. lighthizer shaking hands, steven mnuchin, smiles, hand shakes, looks good. four seconds to go. the opening bell is now ringing and we're off. we're running. the market has opened and we are -- wait for it -- down four, up three. now we're up 10. modest gain. that's what we were expecting. that's what we've got. that's the dow industrials. show me the s&p 500. where's that in the very early going? a modest gain, a fractional gain. let's put it right. as for the nasdaq composite, it is down a fraction. .01% down. all right. some serious stuff now. the big name techs, where are they this morning? i like to see microsoft at $120 a share, it's up. alphabet is up. look at facebook, $176 this morning. amazon down slightly. apple down slightly. most of the big techs are up.
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a dow component, boeing, that is up this morning despite what may be considered rather negative news on it, but it is up as of right now. tesla, this could be the stock of the day. a big drop in deliveries and the s.e.c. makes its case against elon musk in court this afternoon. look at it go down. $30 lower right now as the market opens. that's a 10% loss. come on in, michelle mckinnon, scott martin, "the evening edit" liz macdonald and ashley webster. is elon musk now a liability for tesla? >> he is and he isn't. at the end of the day, the only reason why this tesla stock is so highly priced is because of elon musk. so yes, he's a liability but also, i think he's the one that has been pushing this particular stock higher. it's him. stuart: scott, is tesla nothing without musk? >> definitely isn't, stuart. michelle is right.
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it's kind of live by the sword, die by the sword. the reason that tesla keeps bouncing back off a 250, 260 level which is where we picked it for some of our clients and maybe tried to sell it a little higher, that's where it seems to bottom out. it only has a top in the low 300s. tell you what happens. if elon musk keeps up these antics, whether it's attacking the s.e.c., this terrible rapping he's doing, those are just more risks to the future of the company that eventually i think will come to roost. stuart: got it. want to move on to boeing. the 737 max jet. the ethiopian airline pilots in the crash reportedly followed expected procedures before the crash but they couldn't control the plane. the stock actually is up this morning. this is all about the plane, this report suggests the plane is the problem, the stock is up. explain it. >> we have had so many bad headlines from boeing the past month, it's a little bit baked in. at the end of the day it could be a buying opportunity.
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365 days from now it could be higher. stuart: d.r. barton on this program yesterday said he had bought boeing in the low 370s and apparently that was a good investment because the thing is now 389. 388, 389. okay. we have opened up the market and in the first couple of minutes, we are up 17 points. got that. how about this. president trump meets china's vice premier this afternoon at the white house. he's likely to announce, we hear the speculation he will announce a summit with china's xi jinping but the stock market is only up 16 points on the dow. explain that one. >> if we actually get a summit announced i think the market probably will move higher. at the end of the day, we are up 2.42% the past week, up 14% year to date. the stock market's on a tear. from day to day, some days we will have a down -- stuart: hold on. i have to straighten this out. blake burman, our guy in d.c., is reporting that there's an announcement of a summit is not expected today. okay.
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what do you say, scott? >> you know what's funny about that? to michelle's point, she's right, it's kind of like her comment on the boeing news or facebook news we have had over the last year. the more we talk about the china trade deal or no trade deal, the summit or no summit, the dinner or no dinner, the market starts to move on eventually. yes, i do believe we will get a deal done but i tell you, that bounce in the s&p that comes after that news is probably going to last a couple hours. ashley: i think we are also waiting -- >> oh, i disagree. if an actual deal is done, i think you will see a much stronger rally. ashley: i would say so. >> global growth is going to pick up. i think it will be a big deal. stuart: you think it's baked in? >> completely disagree. ashley: we've got a big jobs number tomorrow after that 20,000 number in february, got a big jobs report. and earnings season is just around the corner. liz: a great jobless claims number, right? stuart: that's right. the firing rate is down to a 49-year low. what does that tell you about
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the economy? you hang on. ashley: markets are surging. stuart: we are up 40 points for the dow industrials. not exactly a great surge, i do admit. jpmorgan's chief jamie dimon, top known banker in america, has an annual letter to shareholders. he says the american dream is alive but it's fraying. he goes on to say that solutions are needed to drive growth, incomes and opportunity. what do you say? liz: it's on the one hand, on the other hand. capitalism can be a force for good. watch this. jamie dimon is cheerleading, wow, the tax cuts added $3.7 billion to our net income. we took that opportunity to quote, massively increase our investments in technology and new branches and more. ashley: this economy is growing. to his point we need growth and opportunity. there are more jobs available than people looking. i would say that's good opportunity. stuart: yeah, i'd say. chime in, scott.
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go ahead. >> yeah, more people are coming here than ever before. they are getting jobs like ashley said. we've got record 401(k) balances. we have the great wealth gap that was created by the obama administration is shrinking. all these things that are happening in america, yes, there's some scary things coming from the democrats and their proposals but to me, the american dream is almost getting back on track here. stuart: yes, sir. it sure is. okay. look at this. the big board now shows a healthy gain. it's not just a little blip up. no, it's 68 points higher. a quarter of one percent. 26,286. that's where we are. constellation brands, the la liquor people, they make corona beer and a whole bunch more, their sales are up. they are going to sell off -- sorry, what was that? they are going to sell off about 30 of their low end brands for $1.7 billion. the stock is up half a percentage point. cvs, the pharmacy, launches same day on demand prescription
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delivery nationwide. the stock is up at $53. don't forget the price of oil after that big jump in supply. still at $62 per share. no impact on the stock market that i can see. apple. ubs says apple will not have a 5g iphone any time soon. that means the 5g network being built out, you can't use the phone in your pocket now. liz: the question is, how come apple didn't see this coming? everybody has been talking about 5g for awhile. stuart: that's true. ashley: who takes advantage? samsung? stuart: verizon? but you can't get on to it without a 5g phone. ashley: correct. you need a new phone. stuart: which we don't have yet. ashley: right. stuart: look at apple. it's $195 as of this morning. nice gain, though, from the 150 it was at late last year. look at lyft.
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the stock is just below its ipo price. its ipo was $72, it's now $71.87. got to tell you, multibillionaire carl icahn sold his stake in lyft before the ipo. that a bad sign? >> i think this is a headline. i think particularly with these ipos, it's so hard to tell the first year in. i always advise just wait. you got to wait. twitter, facebook, there are so many ipos that actually went on to do well and had a horrible first year. stuart: yes. facebook started out well, plummeted. >> plummeted. stuart: took its time to go straight -- >> now it's at 175, 178. stuart: what you got, ash? ashley: i know this is hurting, i know blake burman said no announcement on the summit but the "journal" is reporting a date for the summit is expected later today. conflicting reports. i guess we will never know until they decide whether it's today or not. that report may be helping the market, too. stuart: blake burman reported that a summit announcement is
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unlikely. he reported that after the "journal" had reported that date. ashley: after that. so blake is more on the ball. stuart: the market is up. we are up 95, 96 points. the dow has crossed 26,300. it is an early morning thursday rally as of now. then there's more on facebook. facebook records have reportedly been found on amazon cloud service. another negative for facebook. the stock, though, on a tear. every day, negative story on facebook, doing this, that or the other and the stock goes up. 176 as of right now. go figure. you still wouldn't touch it, is that right, scott? >> no. we still are touching it. we own it, we held it all the way down. we bought a little more down there, but not enough, because your point is great. facebook wants the price to go up, they just keep releasing bad news, or bad news keeps coming out on the company. imagine if they actually got some good news here.
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stuart: that's fascinating. i'm just waiting for their earnings report. let's see if they're still making money. if they are -- ashley: overregulation. stuart: 9:40 eastern time. thank you for joining us. we do appreciate it. look at this. check the big board. that's a rally. we like it. thursday morning. here we go. up 117 as we speak. 26,300, doing the math here, about 500 points below the all-time closing high. much more on the crisis at the border coming up for you. growing calls for president trump not to shut the border down. for economic reasons. we've got that story for you, of course. big day at the white house. little more than a year into its opportunity zones program, the trump administration is touting the success of the program. ben carson joins us, next hour. there are millions of pieces of junk floating out there in space, and the computers, the
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air force has to track all of it, are 25 years old. someone from raytheon on the program. who will fix that?
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stuart: not quite a triple digit rally but we'll take it. we're up 90 points. the dow hanging in there at 26,300. by the way, boeing is the top gainer of all the dow 30 companies. look at it go. a 2% rise, $8 higher. evidently people believe this is a recovery stock. as for tesla, plunging, $25 down now. that is an eight percentage point loss. back to those trade talks, resuming as of right now. come on in, edward lawrence, because i think you are going to refer to the handshake and the
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smile that we saw from china's vice premier as he walked into the d.c. office today. again, you are taking that as a positive signal? edward lawrence? i don't think he heard me. okay. edward, i'm going to repeat the thing. we saw another handshake, another smile, as the chinese vice premier arrived for the talks. are you again taking that as a positive sign? okay. reporter: very positive. in fact, the treasury secretary was also here, another signal -- stuart: i'm sorry, folks. we appear to have an audio problem. i will tell you what's happening right there. smiles, handshakes, china's vice premier arriving for the talks. this afternoon he goes to meet the president at the white house. ashley: there are people who make a living looking at body language and interpreting it. that's what we're doing. two-handed wave, just the one wave. stuart: maybe the market did the
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same thing. we've got the dow up 100 points. maybe in part perhaps on the strength of that smile, handshake. ashley: all positive. stuart: we have news of a raid at a business in allen, texas. that is very close to dallas there. ashley: yes. right around 280, others saying close to 300 employees at a business, cve technology. it's actually a new jersey-based company, refurbishes and repairs consumer tech products. this is a receiving center there. federal officials, i.c.e. officials said they were responding and have been investigating because of complaints this company allegedly hired people that they knew were illegal or knew that these individuals were using forged documents. it's the biggest single workplace raid in a decade. they have been taken into custody. they will be interviewed and they will either be looked at on a case by case basis. there's a human element to this
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like there's a sole care giver, they may get released. on the other hand, they said anyone here illegally will be deported. stuart: there goes the business. liz: and yes, there is a crisis at the border. stuart: there is a crisis at the border. daniel garza is with us, with the libra initiative. we have people flooding on to the streets and camping out on the streets of our city in the southland. that's what's happening right now. that is a crisis. why do you not want to close the border? >> well, mr. varney, look, i sympathize with the president's frustration as to the inability of both the republicans and the democrats to reach consensus on anything having to do with immigration reform, but this is an extreme case where the president i think is taking unilateral action that i think is going to have as mitch mcconnell has said, devastating economic impact. as senator cruz has also said, you are going to punish those who are legally entering, you
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are going to punish small businesses, manufacturers, and the american economy on the whole. stuart: what are you going to do? >> well, look, what needs to happen here is that we need to address obviously where folks are taking advantage of our asylum process. stuart: daniel, it's not going to happen. it is absolutely not going to happen. there is no way on god's green earth that the democrats will agree to redo the asylum laws. it's not going to happen. >> see, i disagree. i think we can reach consensus. what's happened in the past, though, is republicans have put forth proposals that are i think one-sided and democrats have put forth proposals that are one-sided. the american people are tired of this, as i know the president is, too. we have to make sure that we have an asylum process that treats people fairly and judiciously. stuart: how long do you think it would take to get to a consensus between democrats and republicans over asylum laws? are you talking days, weeks, months? i suspect it's months. meanwhile, they are flooding across the border and our southern cities are being
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inundated. you've got to do something now. >> i understand that. but closing the border is already -- just the threat of closing the border has spiked tomatoes, asparagus, blackberries. stuart: what do you do? supposing you allow freight and trade to come through but close other aspects of the border. would you object to that? >> we can certainly shift around inspectors and investigators who can more expeditiously i think process these asylum requests and take immediate action as opposed to the catch and release system that we have now. what happens right now is that even if we were to close the border, people are going -- you are going to induce more illegality, more crossings, and they are going to wait until you open the border once again to resume asylum claims anyway. you're not going to stop the flow of folks that are coming over. what we need to do is get to the business of reforming the law where there is certainty and clarity and we can have security at our border. stuart: i have been waiting years for that. i suspect i have years to wait.
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>> american people need to put the pressure on, even more so. stuart: got to go. we do appreciate you being on the show. come back real soon, please. making it legal for banks to do business with pot companies. what does that mean for the cannabis industry? we ask someone who knows, next. and the new chair of the ways and means committee, richard neal, requests president trump's tax returns. he demands them, actually. grover norquist comes on in the 11:00 hour. what does the top tax reformer in the country say about this move from the democrat-led tax writing committee? car insurance so i only pay for what i need. oh no, no, no, no, no, no, no... only pay for what you need. liberty. liberty. liberty. liberty. ♪
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stuart: now hear this. congress is going to vote on a bill that would let banks work with the marijuana industry. joining us now, the ceo of one of those businesses, the ceo of candescent. welcome back. if congress says you banks, you can finance the pot business, that is huge for you, isn't it? not necessarily your company, but the industry. >> it's huge for our company, huge for the industry and a massive win for consumers. stuart: what it would mean is that you could have startup businesses get a loan from the bank to indulge in the marijuana
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industry. you could get a loan to do it. >> absolutely. and it would probably knock about 400 basis points out of the average real estate cost. we take hard money loans on our real estate where we are paying 12% as opposed to 7% so it would just remove costs from the system. you think about it, i have over 280 customers where we backhaul cash from our dispensary partners, we have to pick up cash, count cash, store cash, then figure out what to do with the cash. stuart: you've got a security problem, haven't you? >> yes. most people would consider the cannabis industry a hard target. we are very well-secured in our facility so it hasn't been a problem for us. but i know one company in california that does its biweekly payroll for 425 people in cash. stuart: good lord. >> can you imagine that? stuart: prehistoric. >> yes, it is. stuart: you would be able to take credit cards now at a pot shop. >> yes, absolutely. stuart: you can get a loan from a bank to start a new pot shop. the obvious question is do you
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think it's likely that congress will approve this? >> well, i can tell you, first it made it out of the house financial services committee in a very bipartisan way, 45-15, and it has 153 co-sponsors in the house, which is a huge number. so it is very likely to make it out of the house of representatives. what's really critical is how does it make it out of the house. if over the next couple weeks it takes shape to continue to be bipartisan, then that is going to put a lot of pressure on the senate to then bring it through. if it comes out of the purely democratic bill out of the house of representatives, i'm not sure the senate will act on it. stuart: okay. have you been lobbying for it? have you been pushing money into this? >> our entire industry has, yes. we have. stuart: adrian -- >> we're not alone. the american bankers association and the eta has as well. stuart: good stuff. thanks for joining us, sir. appreciate it very much. >> thank you. be well. stuart: don't count the moderates out just yet.
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beto, schultz, even biden all making big news. my take on the moderates at the top of the coming hour. big day at the white house. little more than a year into its opportunity zones program, the administration says it's a success. ben carson will back that up. he joins us next hour. a college campus, i can't believe this one, is not happy that justice kavanaugh has been invited to teach a law class. can you believe that? a sitting justice from the supreme court, they don't want him? unbelievable. ♪♪ ♪♪ ♪♪
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stuart: moderate democrats are trying to make a comeback. having seen their party overrun by socialists they perhaps realize the far left will lose them the 2020 election. so they're trying to come back. tim ryan, he is running. he will announce his candidacy on "the view" today. check out his website and he is anything but a wild eyed socialist. he is is more of a technocrat. he would tinker with this or that, not drastic. not clear if he is for the green new deal. i guess that equals him as a moderate. joe biden is trying hard to quell the storm of inappropriate and unwelcome touching of women. he put out a video promises to be more mindful of his behavior. he stopped short after apology. unfortunately his comeback video coincided to three more women objecting to his touching in years past.
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the total is seven is. former starbucks chief, howard schultz is declaring -- considering an independent run. he is doing a town hall on fox tonight. the moderates have two problems they're out of sync with the surging socialists. they are out in a bind with the sewingists and a in a bind with the debates. can you imagine 2 dozen candidates crowding the podium. the left always shouts the loudest. second, biden and ryan are white males. so is schultz. they don't have doubts about their gender or sexuality. they have the wrong identity. that is a problem. the party looks first who you are, again that is a problem. the democrats may be united in their contempt for the president but they're split big time by policy and identity.
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the second hour ever "varney & company" is about to begin. ♪ stuart: come on in marc lotter trump 2020 communications director. the moderates are trying for a comeback but i think they have a problem. i'm sure you agree with me. >> absolutely, stuart. the moderate democratic party is gone. see it so many democrats endorsing the green raw deal. coming across the border illegally, tearing down existing barriers. five of them openly said they want to abolish i.c.e. they have fon to radical extremes. at a time when you have such a strong economy, just this morning weekly unemployment claims, the lowest since 1969. stuart: a huge plus. no question about it. >> we have a booming economy and
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the fact that they're running to the radical left they will have to try to keep running that way to get the energy and excitement. stuart: marc, will you now turn the tables and go on the attack over the democrats failure to do anything about the crisis on the border? this is an opportunity for you, isn't it? >> absolutely. and the the president is leading that charge. he is heading down to the border taking a very tough stand. the former homeland security secretary under obama calling it a crisis last week. what president warned is now happening of the sieve is melting down. we need fundamental change. we need to do basic things we can to protect our border from an influx of not just immigrants but drugs. last year they stopped enough fentanyl coming into our country to kill every single american four types. that is what they stop. imagine what came through. stuart: marc, hold on for a
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second. i will get back to you in a i have got to deal with your money. look at that, for the start, that is a rally. the dow industrials are now up 140 points. 26,360 is the level. more news, positive news i'd say. we have the latest on mortgage rates. 4.08%. i think that is accurate. liz: whoa. stuart: 4.08% on the 30-year fixed-rate mortgage. liz: stunningly low. stuart: it sure is. market watcher jim awad is here. i say that is very good news. >> it is very stimulative for the economy. the lower interest rate structure we seem to be locked into for now will help everything from auto sales to appliance sales to home sales. it's a definite plus. while i don't expect rates to go lower from here they will probably not go higher from here. this will be a permanent stimulus for this year. stuart: you didn't see this coming, did you?
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i didn't. >> the whole turmoil in the financial markets in december, it was a shock to the system. i think fed and markets responded quickly and efficiently and appropriately. i think rates both short and long term are about where they should be. stuart: you see the monitor up there. the dow is up 137 points as we speak. >> yep. stuart: chinese vice premier meets with mr. trump this afternoon in the white house. is that why the stock market is up? >> i think the markets are expecting a deal. there is probably a little further to go as you were reporting before there may or may not be announcement as to a summit date. the market is expecting a deal. it will be a reasonable deal. it will be a positive for the markets but a lot of it is likely priced in. the risk is if for some reason it falls apart which i don't expect that will be a negative. earnings are more important. earnings will be a key driver. stuart: absolutely right. they start coming out in a week's time. next two or three weeks they start coming out. what is your expectation? >> you have earnings
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expectations radically reduced as a result what went on in december. looks like the economy is fine here in the first quarter. it is slowing but it is much better than the bears had suggested and expected. so i think there is a reasonable chance that not only will companies beat earnings estimates but forward-looking guidance could start to creep back up a little bit. that would be the catalyst to propel the market back to old highs. stuart: it is the guidance? keep looking at the guidance? where is it going. >> if you see annual estimates for s&p earnings for the year start to be adjusted upward you will see new highs for the markets now. stuart: are you expecting that? >> it is the most reasonable scenario. stuart: celebrating his 39th birthday. mr. awad, congratulations for being with us. >> always my pleasure. stuart: sure thing. i have two items on tesla. let's deal with that number one, deliveries way down, just dropped off of a cliff and elon musk's lawyers will be in court today defending against sec charges.
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a look at the stock, it is down 9%. $26 lower for tesla. boeing, the big gainer on the dow right now. it is a dow stock remember. the stock is up $9, 2 1/2%. boeing's almost back to 400 bucks a share. despite the pilots of the ethiopian plane that crashed saying that they followed expected procedures before the crash but still could not control the plane. in other words, the plane is the problem, not the pilots, nonetheless boeing's stock is up nearly 10 bucks as we speak. let's get back to immigration. president trump visits the southern border tomorrow. he is talking tough on shutting that border down. marc lotter come back in again please. is mr. trump really going to do that, close the border? >> it is an option that remains on the table but as the president said rely we're seeing positive signs of mexico working with us to stop the flow of illegal immigrants into our country. it is important to remember,
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these people coming up from central america, they have to first violate and break the laws of mexico before they reach the united states to break our laws. so the president is being very tough with mexico. that they can help stop this problem. they're doing it. i know it is not his first option but it remains on the table. as long as mexico is doing more, which they are, we hope for a positive outcome. stuart: i wish i could see the alternative. we understand there is enormous economic pain if we close the border at all but at the same time, what are we going to do? we had people on the program today, we must reform the asylum laws, okay, we must. we'll not get that for a long time to come. i don't see what the president's options are? >> well we've got to secure the border. he will take any steps necessary to do it. he already declared a national emergency. he redeploying forces. as you heard secretary nielsen say, the department of homeland security is treating this like a cat-5 hurricane in terms of all agencies that can respond are responding. but the fact of the matter
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remains, we need the laws reformed. congress is doing nothing about it. they haven't done anything for decades. we're now suffering from their lack of action. so the president's going to take a strong stand. he will do what he can to stop the flow of drugs, gangs, illegal immigrants into our country. and we'll work with congress but we can't wait. stuart: marc lotter, thank you very much for joining us. we'll see you again soon the thank you, sir. how about this, yeah, look at that graphic. there are 170 million pieces of space junk orbiting the earth. the computers that the air force uses to track them, well those computers are bigger than refrigerators, they are decades old. they need an upgrade. raytheon is going to do it. raytheon on this show next hour. senator warren boeing after all kinds of businesses, banks, drugmakers. she wants executives to that do wrong in jail. jail time for corporate
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executives. how about that? >> supreme court justice brett kavanaugh, invited to teach a class at georges mason university. not boeing over well with students. we'll explain what is going on or we'll try. hour two, varney. ♪ patients that i see that complain about dry mouth,
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they feel like they have to drink a lot of water. medications seem to be the number one cause for dry mouth. dry mouth can cause increased cavities, bad breath, oral irritation. i like to recommend biotene. biotene has a full array of products that replenishes the moisture in your mouth. biotene definitely works. it makes patients so much happier.
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we're on the move. hey rick, all good? oh yeah, we're good. we're good. terminix. defenders of home.
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stuart: the rally holds. the president's meeting china's vice premier about trade at the white house this afternoon. that's apparently good news and up goes that market. there is good news economically as well but right now the dow is up 135. how about this one, sales of fresh, repeat, fresh pet food soaring. tell me more, liz. liz: rice, chicken, sweet potatoes for your dog. this is what is going on. sales topping 70% for fresh food for pets. they say our pets are having infections, digestive problems. they found, when they fed them fresh food, that those ailments went down in their pets. so, they're putting in vitamin e, salmon oil. it is, cost you $300 a month but it is now half a billion, half a billion dollar industry. who knew. stuart: who knew. liz: i love this story. stuart: i didn't.
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here's the sensational story of the morning. students at george mason university are demanding that the school rescind its teaching invitation to supreme court justice brett kavanaugh. our next guest interviewed students about this, said only one of them saw benefits to learning from a sitting supreme court justice. she is with us, campus reform lady. emma, only one found any benefit from listening to a supreme court justice in a law school. >> absolutely. so this story is so insane i had to talk to students about what they thought about it. i went to gmu's campus, hey, do you guys know your school hired brett kavanaugh, what do you think about that? only one student had something positive so day about it. great to learn something from him about that. this is very alarming because these are law students who are supposed to understand that people are innocent until proven
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guilty. brett kavanaugh in the eyes of the law is still 100% innocent. he is a supreme court justice. what an opportunity for a law student to learn from a supreme court justice. stuart: that is the point, isn't it? how many times can a law school student learn directly from, be taught by a significant supreme court justice. that is absolutely appalling. hold on a second. you said one out of how many said it was a good thing. >> we talked to dozens of students on campus. we walked around and we were getting people's opinions. there was a protest on campus yesterday against this. students were meeting with the president of gmu. he actually had a great response to this, he said, we don't just hire and fire professors based on what students think. they made an educated decision to bring on a supreme court justice. the class is actually oversubscribed right now. there are more people who want to take this than the school can even accommodate. really what this is, this a vocal segment of the school has decided that because they don't
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like brett kavanaugh, that law students should have the opportunity taken away from them. stuart: it is also a campus administration that found a backbone. we should all be thanksful of that. >> absolutely. i give props to the president of gmu standing up to students, hey, we have an amazing opportunity for students. all do often at campus reform we see administration bow down to students demands. i have to give props to the president for making right wall here. stuart: emma, do you think it is start of a trend? >> i hope it is. stuart: it is outrageous a law school, some students would reject a significant supreme court justice. i find that so outrageous, so good that the administration has got a backbone. does it start a trend elsewhere? >> i really hope that it does and it is good to see a school standing up against students that want every demand to be met by schools. they're part of an adult university. college is for grown ups. they need to understand in the real world just because you don't like someone else get as
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opportunity you don't get to take it away from them. that is not how it works. they will have to learn the lesson. a good thing colleges are stepping up to apply that in the university system. stuart: you're doing great work, emma. we appreciate it. >> thank you. great to be here. stuart: howard schultz, big town hall, it is on fox news tonight. he is already had a lot to say about immigration. we're going to tell you all about that after this. ♪ the biggest week in television is almost here.
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standing o's upon standing o's or tv's biggest show stoppers. get more into what you're into. get ready to watch with xfinity x1 or the xfinity stream app. xfinity watchathon week. free starting april 8th. boop! stuart: positive economic news, the firing rate down to a 49-year low. positive news on the trade talks.
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that is all encouraging the dow to a near half percentage point gain. the dow is now at 26,300. fox news hosting howard schultz at a town hall in kansas city tonight and ahead of that mr. schultz is making comments about the border crisis. hillary vaughn in kansas, tell me exactly what mr. schultz is saying? reporter: hey, stuart, the president he says is trying to score political points closing down the border, writing, president trump's impulsive and ill-considered threat to close the border with mexico is a big mistake. schultz says that move wouldn't solve the immigration problem but just create a big economic one, say stalling exports out of the u.s. into mexico would be a massive hit to businesses and workers and put about $600 billion of cross-border trade at a standstill. tonight schultz will get a chance not only point out props in both parties platforms
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because he is thinking about running as an independent, but also put forth some ideas of his own. the town hall will be airing tonight at 6:30 p.m. hosted on fox news channel. stuart: hillary, i will be intrigued to find out what he wants to do at the border. i know he doesn't want to close it. i know what he wants to do. great stuff, hillary. see you soon. fbi is looking into whether president trump's mar-a-lago resort is vulnerable to foreign spies. after a woman was arrested with a couple chinese passports and malware. ashley: how easy it is to get into the resort? they have family and members, and the scare is secure especially anything to do with the president and documents. senate democrats have asked the fbi to assess the security of facilities and equipment and when president trump is staying there. the president was asked about this yesterday, look he is
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unconcerned about any possible security risk there. he said no, not at all. we have very good control. it is getting better. frankly what we're doing with cyber in itself i think it's a good situation. the fbi checking it out. that chinese national got through the front gate, after that her story went downhill, two passports, four cell phones, strange story, but putting a highlight on the security at the resort. stuart: strange is best word for it. >> very strange. stuart: president trump's opportunity zones. encouraging investments in low income neighborhoods by offering tax incentives, well, hud secretary ben carson, he heads up the opportunity zone push. he is going to tell us what progress has been made. ben carson is next. ♪ i'm working to keep the fire going
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for another 150 years. ♪ to inspire confidence through style. ♪ i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ at adp we're designing a better way to work, so you can achieve what you're working for. ♪
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♪ stuart: we do like this one. i think they wrote this on the plane going to miami. liz: is that right? that's funny. stuart: a great song with rythym. we like it. upbeat too. look at this, we have rally on our hands here. up half a percentage point on the dow. that is 130 points up. look at the level, 26,347. only 125 points away from the all-time high. we have to do this, brexit. we're still talking about brexit, ash? ashley: we are unfortunately. i was looking at the latest, the deadline, the new deadline, let's not forget deadline was
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march 29th. the house of commons is desperately making sure britain doesn't fall out of the eu without a deal in place and trying to force the prime minister to get an extension. that is it all fine but eu ultimately decides whether you get an extension or not. as this goes on the chances of a softer and softer brexit are becoming cheer if not general election something other than than a true brexit voted on more than three years ago. it is absolute mess. they're going back and forth. theresa may having talks with the opposition leader jeremy corbyn. i can't imagine anything good that will come out of that to be honest with you. corbyn will demand a people's vote. or things in other conservatives in mrs. may's party hate, around and around we go. no one, no one will be happy with the way this works out. liz: what chapter are we in now if. ashley: 3064. there was a poll, 64% believe
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brexit is having negative impact on their mental health. would i agree with that. stuart: i would too. trying to cover it over here. now this, massachusetts senator elizabeth warren going after businesses, tech, opioids, banks, all of them. she is introducing new legislation that would make it easier to charge executives criminally, put them in prison if they have done wrongdoing so to speak. virginia congressman denver rigell man is with us now. she just hates business. going a bit far, wouldn't you say, put them in prison? >> she is going a bit far. this is someone running for president on the democratic socialist ticket. doesn't that sound like that, stuart? stuart: yeah. >> i was reading about this yesterday. i'm on the financial services committee, work on money laundering, security, protecting data, do the other types of things with real legislation. they like to sort of rule by emotion right now. i hope we take the emotion out
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of politics. stuart: do you think that idea of really pursuing going after executives, making them the bad guys, the rotten bankers, who give us 10 years of, financial collapse, is that the, the kind of, the approach which democrats are taking towards business? >> i think they have to because they are allergic to the great economy we have right now. my fifth district, we're 3% unemployment. our problem is finding labor. our problem is getting capital into the markets. seems to me, that you know, you're going after the very people that are funding this job growth and things that we're doing. obviously we all agree there needs to be better data protections. i have a counterterrorism background, i have a big data background. let's go to the root of the problem. use criminal laws we have in place to go after bad people. not have a ceo sign a piece of paper, even though they have done due diligence, they are not aware they can go to jail, we've crossed the rubicon of stupid own that one.
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stuart: can i say what you're say about your district, you have a 3% unemployment rate in your district? >> i do. stuart: you can't find labor, can't fill the jobs that are available? >> go much lower. dairy and tobacco are huge in the district. i have timber and dod, department of defense assets. we have such a problem filling labor. we have thousands of jobs going unfilled. our big issue is getting labor for the economic boom we have going on right now in the fifth district of virginia. that is who i represent. stuart: from your district, actually almost nationwide we got a report this morning, only 202,000 new claims for jobless benefits. that is really the firing rate, the layoff rate. that is at a 49-year low. that is extraordinary. >> because nobody is firing anybody in our district. they're begging me for jobs, stuart. when i see this legislation coming out of people who never signed the front of a paycheck, there is some theoretical screed from the 1800's think that
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applies to the great capitalist system we have today. i shake my head. have common sense. people like me come in from business and military. we look at this as ridiculous. so do my constituents. they don't pay attention to that kind of tripe. stuart: tripe. i haven't heard that expression -- >> that is the best word i had. i heard you talking about brexit. so i put in tripe there. stuart: denver rigellman from virginia. thanks for joining us. >> always, sir. this is my best part of the day. stuart: see you again soon. now this, the trump administration launched those opportune zones about a year ago. they're trying to revive low income communities. has it been a success? i want the numbers on this. joining us now hud secretary ben carson returning to "varney & company." sir, tell me, give me the numbers, how successful has it been? >> well, we already have over $25 billion committed to opportunity zones. i had an opportunity to visit
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several of them and just last friday i was in st. louis where an old, abandoned foundry is serving as the redevelopment of entire area and opportunity zone. they will have entertainment. they will have grocery stores. they will have apartments. they are going to have businesses for employment, training, all kinds of things going on. enormous amount of excitement. the best thing is, that there were republicans there, democrats there, they were all having a good time together. you know, getting our people and getting our deprived and neglected areas up to speed is something that should not be a partisan issue. it helps to strengthen our country. stuart: have you ever thought of making long island city in new york an opportunity zone so amazon could come in to get some tax breaks and wouldn't have to be chased out of town by aoc? >> we certainly would like a little more logic for the people
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there. you know interesting when they thought amazon was coming a lot of new businesses started popping up. stuart: yeah. >> i don't know what they're going to do now. it was really a cruel joke. stuart: i have to put this to you, once the government gives something, like a tax break, in an and opportunity zone, you can't take it back, can you? so it is there forever. comfortable with that? >> not only that, the real difference with these opportunity zones is that the investment doesn't really pay off until it has been there for at least five years. you get, even more increase after seven years and then, real big increase after 10 years. so, you don't, you can't leave, if you really want to get the benefit. and you're going to be very interested in the return on your investment. so you're not just going to walk away. that will really make a big difference. that has never been done before in this country. stuart: you don't get any credit for this. i haven't seen a single headline
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anywhere about opportunity zones despite the success you just outlined for us. >> you will not hear good news, you know that. it doesn't matter. the key thing, that the people who are in these places will see the benefit. they will see the benefit of the jobs programs that we're creating. you know, we just announced yesterday revamping of section 3 which means if you're getting you know, hud money you have an obligation to train, higher or give contracts to low income people in that area, providing them a ladder to climb so they can become part of the american dream. these are things that have been missing. you should know we're also going to tackling some of the perverse incentives, you make more money, getting rental assistance, your rent goes up. we will get rid of those things. we have to allow people to climb the ladder an benefit from it so other people can see that happening, i will not just sit here. i will get on that bandwagon
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too. stuart: ben carson, always a pleasure having you on the show. don't be such a stranger. >> i enjoy being on your show. stuart: dr. carson, much obliged to you. proctor & gamble has some pressure on them to deal with the waste from used diapers. they make a lot of diapers and sanitary pads. they make a lot of those. wait a minute, i have to ask, they're under pressure to do something about this, what can you do with a dirty diaper. >> great point. they dominate. they have 27% of the market. 20 million tons of used diapers. it is difficult to recycle them. p&g hooked up with a company in italy do just that, take used deep pell, recycle them into clothing, plastic bottles, school desks. stuart: wait a minute. wait a minute. i don't find that terribly attractive. >> what are you going to do? europe is upset about this. asia is upset about this
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particularly in india where the population is exploding. >> what would the clothing line be called? stuart: what is wrong with cloth diapers? >> rashes. stuart: that is the only problem with cloth diapers? >> ask the parents. and the baby, sure. can't believe we're going here. stuart: i just we would bring you the news. ashley: the story of the day. liz: the headline of the day. stuart: there you go. how about this one? kamala harris, senator, presidential hopeful, wants to hire illegal immigrants to work as congressional staffers. we'll explain it all, believe me big development in the pot industry. the fda looking into allowing cbd into food and drink. cbd is the stuff in cannabis that has health benefits, but doesn't get high. we'll have the story. i haven't ordered food on line in decades. everybody is telling me that is booming. what is that doing to the
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restaurant industry? we'll ask the man himself, "bar rescue" guy, jon taffer he is next. ♪
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stuart: just holding on to a triple-digit gain barely. we're at 26,300. there you go. look at this, dow component walgreens. it has had a terrible week. that stock now at $54 a share. at a five 1/2-year low. it's a dow stock. so it is not helping. food delivery much more popular these days, online ordering, that includes people picking it up themselves up 23% since last year.
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jon taffer with us, "bar rescue" guy. if you run a restaurant, how do you deal with something like this? is it good for the restaurant or bad for isn't. >> it is food, stuart. it is revenue. before we had the delivery services and outside services providing it, we worried about liability of having delivery drivers, vehicles out in the street, insurance concerns. this makes it easy for us. we're not involved in the business. we can up mark our men use to cover costs we pay these services. it is starting to equate to free revenue. i gave the keynote speech at the multiunit franchise convention last week, they were talking about this topic but the two biggest concerns now are limited labor pool, and potential $15 an hour minimum wage. this is a way to offset some of those concerns as well. stuart: am i right to say it is rapidly rising trend that lots and lots of millenials are doing it all the time? is that accurate?
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>> completely so. a lot of it is because of streaming, home entertainment. programing like yours, stuart, keeping them at home, eating them at home. stuart: flattery is the mother's mill of television, jon. that was very good. thank you. you know the story here, fda is looking allowing cbd in food and drinks. that is the stuff in marijuana that doesn't get high. health benefits but you don't get stoned is this something that will get people into restaurants and bars? >> you know i think it can but it needs to be regulated too, stuart. so you know i think some government involvement makes sense. what quantities are put in, false claims. you know we can't make claims that it will change your life, make you look 20 years younger tomorrow. it needs to be some type of regulation and information provided to consumers in a consistent way, they know what they're ingesting. the restaurant business is lot of independent operators. they need to be informed how to prepare foods with cbd as well.
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stuart: look down the road, do you think there will come a point where thc, the stuff that gets high, would be allowed to be served in drinks and restaurants and bars, do you see that day coming? >> i do. stuart: would it help the restaurants? >> i think anything that creates a better experience in the eyes of the consumer helps the restaurant and i think there is a place for that somewhere. stuart: did i, i think i just got that wrong. i'm saying look down the road and can you see the time coming when thc, the stuff that gets high, can you see that in food and drink and would that help restaurants and bars? >> well we have bourbon in barbecue sauce, don't we. stuart: it doesn't do much for you, does it i don't think? >> i think at some point, stuart, it will. when consumers want things like this, i think the market place will find it. look, did we ever think 20 years ago we would see what is happening with cannabis today? so there is lot of movement in that direction. stuart: dowel come it?
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>> i'm not against it as long as it is done in a responsible fashion, stuart. stuart: jon, thank you very much, as always. always great to see you, lad. >> good to see you too. stuart: keep rescuing them bars. >> i'm trying. stuart: i'm about to show you some video, you're seeing it now. it is spacex's new mars rocket, called the star hopper. there was a big teslas night. why am i seeing looks like a ball of fire? ashley: because it is sofar away. stuart: that is test of the engine. ashley: you know how long that lasted? one second. stuart: really. ashley: it was enough to rumble, shake windows, two miles away. this is 650-foot prototype what elon musk hopes will be eventually a rocket that takes people to mars in early 2020s. i say 60-foot. the actual model will be perhaps 400 feet tall, be capable of landing the nearly 200-foot tall spaceship on mars, which is
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amazing thing. stuart: repeat that they will send humans to mars on rocket like that in early 2020s. ashley: we're in 2019. liz: i don't know. ashley: we will have to wait and see of however he has the vision. he says he will do it. by the way a woman who said, who lives about two miles from this, it was like two jet engines taking off in my living room, rad link, things moving. for one second is. liz: don't you love the retro flash gordon look though? it looks like a 1950s space rocket. i love look of it. stuart: werner von braun. liz: stuart: elon musk, here we go, he is facing off with the sec. his lawyers are in court. they will argue that musk should not be held in contempt for sending those tweets. judge napolitano has some thoughts on that. i don't know what they are but he will tell us in a moment. ♪
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stuart: we've gone back up again. now we have a gain of the dow of 150 points. we're back to 26,369. that's a rally.
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boeing, surprise, surprise, despite bad news about the max jet, that is one of the best performing dow stocks. boeing is up $9, 2 1/2%. boeing at 394. lawyers for tesla chief elon musk heading for court, facing off with the sec over contempt charges. all rise, judge andrew napolitano. host of "the liberty file" on "fox nation" joins us now. what do you think is likely to happen to musk in court today? >> nothing. i think this is much ado about nothing. if it were not elon musk with his histrionics and flair for personality and drawing attention to himself the sec -- he made a statement. it wasn't through. he corrected it right away. forgot to run it past the lawyers. wouldn't have approved it anyway. because he is elon musk, if he were a lawyer found guilty guilty of contempt it would affect his ability to practice
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law. stuart: those tweets, really shifted stock market. >> we're not talking about the first set of tweets. he already has been disciplined for that. e we're talking about the second set which he said we'll produce 500,000 cars and the true number, corrected, 19 minutes later was 400,000. stuart: yeah. but he did the same thing a second time, that had been cautioned for the first time? i mean is he just going to walk away from this? can this guy just do anything he likes because he is elon musk? >> you sound like, god forgive me for saying this, a lawyer for the sec. i mean how much regulation do we want? was this a mistake or was this intent to move the market? if it was the latter he deserves to be found guilty of contempt, to have more restraint put on him. if it is musk being musk, leave him alone. he is a great guy. built this wonderful company! stuart: do you mean that? or are you saying that on behalf of somebody else? >> i'm saying that that would be an argument that would resonate with me if i were the judge.
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stuart: okay. >> because i don't like to hold people in contempt because of their use for words. stuart: had you something different he would go to jail or lose his job, i bet the stock would be down more than it is now. you had a chance to move the market. there however i want to talk to you about carlos ghosn. arrested again in japan. new allegations, i think financial misconduct again. take me hine this. what's going on? >> i think as you and i talked during the break he was going to hold a press conference today japan time, maybe yesterday, and they didn't want him to do it. let me tell you, if they knew of this potential charge and intentionally held it back, in america they would lose the right to prosecute them for it. in the japanese system prosecutors have extraordinary power. i just looked up their conviction record last year. i have never seen a number like this. 99.9% juries in japan, do not acquit. they have such deference to the government. mr. gone is in very, very
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serious trouble, unless somehow he could get out of japan. stuart: they could put him in solitary i think, again. >> yes. in my view he is being tortured. a sophisticated form of modern form of torture because people didn't want him to make business decisions that he was making with nissan. stuart: but they have different standards of corporate behavior, different prosecutorial standards. >> the answer -- your statement is correct. stuart: they're much more harsh. much more so. >> yes, your statement is correct. now the 99% conviction rate is a little illusory, they dismiss a lot of cases. they only try cases they know they will win. they have a culture which juries are subservient to the government. they have the ability to dismiss whatever case they dismiss, throw out, whatever case they think they're not going to win. stuart: judge, thank you very much. see you soon. >> you're welcome. stuart: driving unit, google's self-driving unit, waymo, they're testing driverless cars in phoenix, arizona. fox business is getting to test
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them today. we have a preview coming for you coming up in the next hour. it has been two weeks since the release of the know collusion mueller report. the left and the media already desperate to reshape public opinion about it. my tyke is on that. it is next. ♪ ...
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stuart: two weeks after the release of the no collusion mueller report, there is a desperate attempt to reshape public opinion. no collusion is not what the trump haters wanted, so they're busy retrying the whole thing. so doubt in the public mind, undermine mueller's conclusions, oh, it's a nasty business deliberately designed to trash the president they hate. the leakers are out in force. some on mueller's team say the report was more damaging than barr revealed that's the new york times headline today there you have it. the trump haters putting out the word he really is, a bad guy. slime him on collusion, slime him by implying a coverup. that's what gerald nadler is doing, keep the investigation going, and as he's doing that, the democrat-runways and means committee wants six years worth of donald trump's tax returns.
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the president says i won't give them to you because i'm under audit, big fight coming inevitably, the democrats will shout "cover up." the game plan is obvious at all cost, change the public's perception of no collusion. meanwhile, there is a growing crisis, a genuine emergency on the border. fox news griff jenkins has video of migrants camping out in the streets of arizona roaming the streets, holding facilities over run. they're pouring into america virtually unchecked, yes it is an invasion. isn't that what congress shall be looking at? migrants gaming the asylum laws, that's something congress should at least be debating. border enforcement needs more money congress should give it to them, but they'll do none of the above. the democrats thought mueller would win them the 2020 election but when his report said no collusion they turned on a dime and demanded a retrial of collusion. investigate everything.
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well, there's two more years of this still to come i think they're overplaying their hand, middle america has either a limited tolerance of hatred. the third hour of varney & company is about to begin. all right, you heard me say it, come on in, allie stuckey relat able podcast host, all right i ended it there by saying it's a rotten political strategy investigate investigate investigate hate the man try to undermine the mueller report, i think that's a rotten, i really think that's a rotten political strategy. a loser strategy what do you say >> right well i think that you're right that probably collectively, america breathes a sigh of relief after the mueller report came out there were probably people on both sides of the aisle who said okay do you know what? at least it's donald look the president of the united states didn't close with collude with the russians, but of course you
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have people who have a political stake in this who like you said were waiting for mueller to give them a reason to file articles of impeachment or to run even harder against president trump so now they have to manufacture even more outrage than they did before and i actually think president trump i don't always agree with his pr strategies but right now they are doing a pretty good job, we're seeing testimonies from people who have benefited from the first step act that's been very powerful in social media and of course, trying to fight back against what's happening at the border, i just hope that he can continue to do this and turn it into a positive message whereas the democrats are kind of just scrambleing to him. stuart: as you know, joe biden has made a video saying he will be mindful of his behavior, this follows as you know a number of women accusing him of inappropriate contact in fact the total is now seven women who have come forward. i'm sure you've seen that video, will it work, will it restore him to the good graces of the democrat party?
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>> well look, there's already a lot of democrats who never really cared about this. we heard during the kavanaugh hearings that we have to believe all women no matter what that that's so important that we take women at their word but now you have a lot of people who are saying well, did they really know what they are talking about his intentions are totally fine and i don't know what joe biden 's intentions are i'm not going to pretend to but i think he's already in good graces with a lot of the democrats who say that they care about so-called victims. they don't seem to care when it comes to joe biden. stuart: can he win a primary? >> well, i think for other reasons he probably can't win. i don't think he's far left enough or intersection all enough and this might just be a tally against him, but it might not make or break it. stuart: tim ryan now he's a moderate democrat from ohio he's going to run in 2020. has he got an intersectional problem? he's a white male. >> yes, and not only that but
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he's also a moderate. now he wants to bring votes in and i don't agree with his policies but i agree with some of what he's saying is that the rust belt isn't getting the benefit he thinks of the good economy right now and so he wants to bring those votes in and represent those people but look we've already got candidate s from middle america that have better name recognition than him like amy kl o. b uchar, it's not going to work for him not inter intersectional enough and not enough name recognition. stuart: lastly, there's a cup of moderates joe biden and tim ryan do you think they can take the party back from the far left? >> oh, not a chance and even tim ryan over the past few years he has changed his stance on things like abortion and used to be a pro-life democrat and now he's pro-choice and there's a few other things like that joe biden used to say he represents blue collar americans and he's shifting because he knows he has to appeal to the radical left mostly represented by millennial s which is a huge
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voting block. i don't think honestly they have that much interest in taking the democratic party back i think it's a lost cause. stuart: [laughter] a lost cause well that's quite a statement. >> yes. stuart: okay, yeah, allie stuckey thanks for joining us. >> thank you very much. stuart: thank you look at this, yeah that is a rally. now we're up 155, that's 26, 370 that's where we are today. positive news on the economy, maybe positive news on trade talks as well.n a year into the program, the administration says its been a big success, money is pouring into those zones, it's all about good housing, jobs in depressed areas, secretary ben carson joined us last hour to talk about this ahead of the meeting today he wants to make sure rents don't go up along with incomes. he's at the meeting later on. millions of junk, space junk floating around out there, out in space. the computers the air force uses to track it all are 25 years old
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, so they're teaming up with raytheon to update them and raytheon is on the programmed to and i'll also ask what they think of google teaming up with china. homeland security chief kirstjen nielsen goes to the border in arizona today and will get a firsthand look at the crisis and president trump heads to the california border tomorrow, we're on it. fox news griff jenkins got these images of migrants camping on the streets in arizona. he's down there in the thick of it. we'll join him, later this hour, and china's vice premier goes to the white house, a trade deal looking close, we're talking to michael pillsbury, the man president trump called the leading thornton china stay with us this is our third hour, we're just getting started. >> ♪ ♪ when you rent from national...
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stuart: verizon has officially deployed its 5g mobile service in certain parts of chicago and minneapolis, the first two cities there will be 30 which will have 5g networks this year but you can't use 5g with the phone you have in your pocket. you have to have a special new 5g phone. apple, according to ubs, will not have an iphone that's compatible with a 5g network any
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time soon. why? they still need a smartphone chip compatible with 5g. don't have it. does it effect the stock up 196 right now. the u.s. air force and raytheon teaming up to improve the air force's computer systems for the space command, todd probit is with us and he's vice president for raytheon intelligence, information and services. all right, todd what kind of upgrade does the air force need? >> hey, stuart thanks for having us, and what we're doing for the air force, you can imagine, with all these space debris up there the air force is currently tracking upwards of 170 million pieces of space debris everything from the international space station to satellites to screw drivers left by the astronauts to debris left by rocket launches that are up there and they've been tracking that for probably since the 1970 s. it's becoming a bigger concern, with the influx of space activity so spacex you talked about a little while ago.
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stuart: do you happen to know if there's ever been a satellite knocked out by a piece of space junk or the space station, has it ever taken a hit from any piece of space junk? >> well, so, spacecraft, and the space station itself, take hits from space junk on a regular basis in fact the air force a number of years ago put up a satellite to just test what long term space environment looks like so that debris has been small and hasn't done any major damage to any of those systems, but it's important though with space becoming more busy, to have an accurate track ing of those systems. stuart: now we hear that the computers that the air force is currently using are 25 years old , and the size of refrigerators or even bigger. what are you going to replace them with? >> yeah, that's exactly true. the system in place today was designed in the 80s fielded in the 90s and would fill up about a two bedroom apartment space. we've redesigned that system so
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now it looks basically about the size of a washer and dryer one rack of equipment and we've re factorred that software on to the new system. stuart: i've got the graphic up on the screen now with the bits and pieces of space junk you said there's 170 million of them that is a real hazard isn't it? >> it's a hazard and they're flying at literally 17,000 miles per hour that's 10 times the speed of a bullet. stuart: how about this one? google, as you know, been working with china, on a search engine. what do you think about that? >> well so i can't speak to google specifically but there's a great amount of technology coming out of silicon valley and what we're doing at raytheon is looking to exploit that technology stuff matured in that commercial space and bring it to our customers. stuart: but you don't want it going to china do you? >> we want our customers to have the most technology for our war fighters and that's what raytheon is all about. stuart: you're keeping it out of the hands of china is i'm trying to press you here right? >> we at raytheon are focused on the u.s. military and intelligence agencies and very much want to keep that in the
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hands of the u.s.. stuart: did you ever work for the state department? >> [laughter] stuart: i've got to say. yes? >> yeah there you go. there you go. stuart: todd it was a pleasure thanks very much for being with us. >> thank you, stuart. stuart: sure thing, google assistance now that's their version of siri, launching its first celebrity voice today, it's starting with a singer, john legend. listen to this. >> i'm feeling this new voice. you can find me on all kinds of devices. phones, google home and if i'm lucky, in your heart. stuart: wow, how is this? ashley: oh, god. stuart: if i'm lucky did you like that? ashley: fabulous. stuart: john legend will give you the weather, sing happy birthday and even tell you a joke. by the way, google says expect more of these celebrity cameos thanks to improved voice synthesizing technology. here i am. ashley: i'm waiting forest.
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god can you imagine? stuart: no you're not. you have me for three hours every day. >> liz: [laughter] stuart: here is a story, carl icahn sold his roughly 2.7% stake in lyft. he sold it to george soros right before lyft's initial public offering last friday. as you may know, lyft surged on day one, tumbled on day two, monday, closed up 1.5% on wednesday and right now, they've just recovered to the initial public offering price which is $72 per share, right there as we speak. and there's one issue, both the president and the democrats might come together on and that is, i can't believe this, a gas tax? we're going to talk to the president of americans for tax reform, i bet he's not happy about this one, can't imagine he would be, but first though, waym o, self-driving car has been hitting the streets of phoenix for two years now, but today, we get to look inside. we'll take you there.
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stuart: waymo's self-driving car has been on the streets around phoenix for a couple of years and our liz claman is there, she's going to take an exclusive ride in one of these things later on today but first she's going to give us a preview. liz it's yours. >> liz: yeah, it is mine, and when i say mine, i mean, fox business' viewers too, because we're going to take you along for a ride for the first live broadcast ever of this self- driving ride-hailing operation that what started as a google idea, you know, like a moon shot, stuart, is now this. it's a waymo self-driving ride- hailing service that is absolutely on the streets now picking up paying riders, who go on the app, who have signed up, and yes, there will be test drivers in there but they do not touch the steering wheel stuart and that's what i want to show
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you come over here and this is the inside and you can see the steering wheel and you talk to people who have been in it. i will be doing it for the first time live at 3:00 p.m. eastern but the people who have done it, stuart say it looks like the steering wheel has become possessed or something it just moves and it does everything. what waymo says it is trying to do is to build the world's most experienced driver. not car, driver but you can't ignore the hardware here. i want you to look up there. see that? there are 19 cameras and multiple lasers in there and that's what enables the waymo cars to see everything from construction cones to maybe kids running out in the street, after a ball, right? not just street signs not just road paint that says make a right turn or no left but also what about weather conditions? look down here it's a beautiful day in chapped letter, arizona. chandler has been the test area in the city along with mesa and tempe and gilbert here in arizona but these are wide boulevards. i keep saying to myself how is
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this going to work in boston because yeah, downtown is a total nightmare in boston. new york is actually probably easier right but what we're going to do with the ceo, is ask him, how quick is this to totally scaling up and coming to your town and guess what when it comes to scaling up you just had lyft going public, stuart and lyft said in its sec filings we're developing a ride-hailing autonomous vehicle area but what they don't have is this thing. this is called the laser bear honeycomb. this is the system that enables this car to see everything, at least that's what waymo says and deal with every condition. hydroplaining, snow, they're working on all of this now, but they are ahead at the moment and i'm going to ask him, which cities are next. how many people have complained about it, you know, there have been a lot of people who absolutely love it and they have paying riders now stuart so i know you love these techy situations, but we've
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often seen jeff flock and some of our other reporters look at the test drive. this is actually being rolled out here in chandler, arizona. first on fox business an exclusive before "60 minutes" stuart. we've got it right here, 3:00 p.m. eastern the ride-along. stuart: i'm watching liz and that's fascinating good stuff. i'll repeat this, watch " countdown" to the closing bell, with liz, 3:00 p.m. eastern today, she's got that exclusive ride in the waymo vehicle with the ceo of waymo. it's here, on fox business and that's good stuff. >> liz: cool stuff. strategist big story today the china trade talks looks like we could be getting close to a deal next the man president trump called the leading authority on china, that would be michael pillsbury. jpmorgan's chief jamie dimon he's the best known banker in america he says the american dream is alive but fraying what's that all about and of course, in a tweet, he says usa optimism is very high.
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good story, back after this. >> ♪ ♪ -driverless cars... -all ground personnel... ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade.
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stuart: happening now, literally now, earlier we said democrat ohio congressman tim ryan might run for the presidency and he
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now has officially thrown his hat in the ring launching his 2020 presidential campaign, just did it. happening now, at the white house, a meeting on the administrations program of opportunity zones, they say that it's a big success, and they have been in operation for just over a year, big success and now if the president makes any news on trade, or the border, if he approaches a camera and speaks into it we'll bring it to you directly. it is on wall street let me assure you we're up 154 points as we speak that's 26, 373. got that, china trade talks, china's vice premier, he is going to the white house to meet president trump this afternoon. i believe we have michael pillsbury, we've got the man himself. look, michael, we've seen lots of handshakes, big smiles, wav ing to the crowd, mr. lu is going to the white house, there's talk of a summit coming up. all looks rosie, looks like
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they're close to a deal. you going to throw cold water on it? >> no absolutely not, stuart. the days are gone of back in march last year when we were accusing china pretty much every day of theft and lying and cheating and now a kind of mechanism has been worked out by the two teams where there's going to be sort of what i'd call a court of appeal that american companies can file complaints anonymously if they wish, to go through three layers of appeal and we can put tariffs or other penalties on them and they will not object. this is really quite a breakthrough from last year. this is the ninth round of talks today. stuart: that's a huge breakthrough. if you've got a system or a mechanism for checking up on transgressions about this deal you've got yourself a solution to one of the biggest sticking points of all-time. >> that's rightist a really big deal stuart and i think the main thing is the chinese themselves
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opened up the solution when they denied everything and back again in march of 2018 all these allegations against them, by ust r, they simply denied and said china would never dream of doing this kind of thing and then president trump stepped in and said okay, if you would never do this, then i'm sure you have no problem signing the pledge that we can enforce, which you'll never do this and they were caught. stuart: is this the icing on the cake or the meeting this afternoon, in the white house, the vice premier, and the president, are they going to ice the cake with a summit meeting soon? i'm getting my metaphores all mixed up here but looks like the icing is about to appear, right? [laughter] >> well cameras are invited he's at 4:30. i don't think the president would do this if he didn't have something positive to say. doesn't mean it's all wrapped up there's a couple of weeks in the last 24 hours that are very delishes and very important.
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one leak is this deal will include a 10 year period and some parts will run until 2029 and another part will go until 2025 so the idea of bringing stability to our trade relationship and protecting our investments and our companies, out 10 years that's really important stuart. stuart: that is a breakthrough you must have very good sources young man because i've not heard that any place else. >> well "the talks" are secret they're 120 pages long so there's a great deal of detail that's not been revealed but the important point is a stable framework for 10 years, a lot of chinese agreements never to do again what we know they did before, and then this enforcement mechanism that i've been calling lighthizer court of appeals, and the appeals court that will render judgment and penalties if china cheats and i'm not going to say they are going to cheat or not but if they do they are agreeing to penalties. stuart: wow michael pillsbury
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you bring us good stuff and that was really good stuff thank you very much indeed, sir. come back soon okay? thank you. >> watch at 4:30 stuart. stuart: of course i'm watching, what do you think man, come on! okay hold on i've got breaking news here we go. there are reports that president trump is expected to name herman cain to a spot on the federal reserve now what's with that tell me more. >> liz: well he likes herman cain, he's a straight shooter he has served already in the kansas city fed. you can imagine though that democrats on senate banking are going to rip into both stephen moore and herman cain so can they pass and become one of a dozen voting members who will set interest rates at the federal reserve and both of these gentlemen say the fed is too aggressive in trying to hike rates at a faster speed they don't want rates going up. ashley: the point is always the very very deep background check and what comes out in that and i'm not saying there will be but he can't say anything until that process is complete.
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stuart: if these two gentlemen get on to the federal reserve you've got two trump supporters. >> liz: to put a check on jerome powell who the president has criticized. stuart: it's still powell's panel in the department but if these two gentlemen get on there , you're right. you've got a counter balance with trump guys on the federal reserve. the market is not responding to this of course but its not been confirmed i think the market is more responding to the trade talks actually and it's up. jamie dimon probably the best- known banker in america he says the american dream yes, it's still alive, but it's fray ing, and he says we need solutions to drive growth income and property. okay just compare that to what the president tweeted this morning. despite the unnecessary and destructive actions taken by the fed, there you go, the economy is looking very strong, the china and u.s. mca deals are moving along nicely, there's little or no inflation and usa
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optimism is very high. now let me get back to jamie dimon. he seems to be soft pedaling it, because he's in a very political position. he's going to be attacked by senator warren. >> liz: absolutely you're absolutely right and it certainly reads that way at the top end. he says "we are strengthening our public policy teams to take our advocacy and ideas to the next level. it feels like on the one hand, on the other hand kind of a take , a soft pedaling to get his ideas forward, instead of going right at it. here is what he's saying though and i wish he pushed this upfront. he is saying with litigation there's too much litigation, he said that, he's saying infrastructure took eight years to get a man to the moon it takes longer to get a permit he should have put all of this stuff up higher and he's saying tax cuts have been great and made $3.7 billion in net income and we could expand our company, build-out more branches.
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so it feels soft pedaling and written for democrats. stuart: if you can read it. it's much better. >> liz: it is. stuart: thank you mr. dimon. ashley: [laughter] stuart: listen to this one, aoc, alexandria ocasio-cortez, she showed off her unfurnished washington d.c. apartment she sips on wine, assembles furniture while broadcasting on instagram live video. watch this. >> i still don't own a chair until today, when i got a folding chair delivered to my apartment along with some other furniture. my apartment is like unfurnished i've been living like a completely deprived lifestyle. stuart: okay right what do you think about that? ashley: she's on 174,000 a year but to the point she makes i think she's quite clever at using social media. she's chatted for an hour, very accessible and basically said but i go to work all the stores are closed when i come home from
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work everything is closed i've had no time to do anything which sends a message of i'm in washington and i'm actually working which isn't bad. it should be pointed out though that there are no low income housing opportunities in her new building down in washington d.c. , but there is a whole foods which is owned by? amazon. stuart: amazon. ashley: so she's living on the kind of life she talks out about so much. stuart: lizzy i know you've got a point to make but our producer is appalled at that video. what is a congresswoman doing in an unfurnish furnished apartment >> liz: she's not representing her 3 million followers of her own district. i hear what our producer is saying. she was seen shopping at the whole foods by the way recently and the other thing too is i love how she was complaining about $7 croissants comparing them to the minimum wage in an airport. what's she doing flying a plane? what was she in the airport for? oh, it was funny. ashley: by the way on this particular clip, she does defend
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the world quite likely end in 12 years unless we do something about cutting emissions by 50% or more. stuart: well quickly. ashley: very quickly. stuart: got to look at tesla, deliveries, down 31% last quarter, and elon musk's lawyers will answer the sec charges against him in federal court today. the stocks taking a down $22 that's 7%. amazon are going to move thousands of employees from seattle to nearby bell view, washington, not quite sure why they are doing that no impact on the stock still above $1,800 a share and the democrats continue with the endless number of investigations. now they want the president's tax returns, coming up we're going to talk to the head of americans for tax reform, we're not going to get tax reform for two years, for sure, with the democrats in charge, so what's he got to say? homeland security chief, kirstjen nielsen goes to the arizona border today, she'll get a firsthand look at what is a worsening crisis.
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president trump heads to the california border, tomorrow. and fox news griff jenkins he got these images of migrants camping on the streets of cities and towns in arizona they're on the street he's down in the thick of it and will join him next. but first though, look at this. kamala harris wants to pass a bill that would allow illegals to work in congress, we'll explain it for you, we'll be back. >> ♪ ♪ fact is, every insurance company hopes you drive safely. but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that.
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now that you know the truth... are you in good hands?
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stuart: california democrat and presidential hopeful, kamala harris is proposing legislation that would make dreamers eligible to work as staffers or interns in congress. this legislation was first introduced earlier this year, it has the support of several immigrant rights groups. still on immigration, migrants have been literally camping on the streets of towns and cities
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in arizona. right now our griff jenkins is at the border and he's in mission, texas and describe what's going on there, please? griff: hey, stuart. here in the are rio grande valley it is the heaviest traffic for apprehension of illegal crossings they had 1,100 last night we were out all day, and it's family units surrender ing and of course some single individuals that don't want to be caught 1,100 last night it's the 13th straight day in a row with more than 1,000 apprehensions as 13,000 they only have 3,300 bed spaces to keep people they have more than 6,000 so these numbers are way off the charts i want to show you just a little bit here though you can see in the distance this bridge is facing mexico and mexico is just a quarter mile that way, and they come up this road behind this agent here, and now agent rivera was out with us last night. we were out all day long. we had a lot of apprehensions,
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agent rivera describe for stuart and all of our watchers what's happening here and is this something you've ever seen before? >> actually this is the first time i've seen this amount of people come at one-time. i've been the area for the last 13 years. prior to that we had a surge in 2014 so there was a lot of people coming through but this is way beyond that. so we had an issue within this sector actually throughout the southwest border matter of fact as a whole so we're trying to figure out what the best course of action. griff: when we see the families that have come up periodically, hundreds throughout the day, the mornings gone, more will be coming but we see a lot of individuals with children, men, single men with children, you say they're exploiting the system, how? >> well, its been known, it's fact that they give information, they share information with each other that if they bring a child that they're able to make their entry into the united states easier so they are exploiting the system just a loophole since
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we can't house that many families altogether we unfortunate had it have to release them on the spot so it takes time and resources from protecting the border because we have to tend to them because they am could in large numbers so it draws resources and manpower and takes time so we're not actually protecting the border but actually doing something else so that's what the problem is at this time. griff: agent its been talked so much about but infrastructure, a wall a fence whatever you call it would more of that help in this heavily-trafficked sector? >> in some spots yes, because we get a mixture right now we get a mixture of families to turn themselves in and people avoiding apprehension and the area you were in last night that area is lacking infrastructure, we don't have a border wall if you will, that will make it easier for us to apprehend these people that gives us a buffer if you will but also at the same time there's laws that need to be changed in order for the family units to stop coming.
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griff: thank you, agent and stuart that's "the situation" here as they try and deal with the unsustainable numbers we'll see hundreds more of these family units coming together, he just said agent rivera, they're releasing them to catholic charities, one sister in particular says she's seen at least 10,000 turn to her tiny little catholic charities in the last few weeks. it's really quite and astounding situation here, stuart. stuart: oh, it's a crisis griff jenkins thanks very much for being there. appreciate it sir. our next guest is just one of a number of people encouraging president trump, no, don't do it , don't close the border. jeff mosley, texas association of business and the ceo, jeff welcome to the program good to see you, sir. >> thank you. stuart: now i put it to you, i can understand that there's a great deal of pain if any section of the border will close i've got that economic pain, in texas. i've got it. but what are we supposed to do? there is a crisis. how do we deal with it?
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>> stuart, great question. clearly there is a crisis and both parties have had opportunities to solve immigration over the years, and clearly the president is frustrated. we joined with any interested parties in fighting formation reform and procuring this issue. at the same time, we must be very forceful in saying that we have a dynamic trading relationship, the united states with mexico, more than half a trillion dollars, and so we have to be very cautious not to mix church and state and make sure that trade is there. stuart: that's a fair point, but you're not going to get any kind of reform of the asylum laws, you're not going to get any kind of change in the immigration laws, it's just not going to happen. for long, long time, meanwhile, you've got a crisis that's there today. i don't know what would you do about it? how are you going to stop this invasion? >> well one thing we wouldn't
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do is to takeaway 700,000 jobs in texas as part of a negotiat ing tactic. these are real jobs and a massive economy in our united states and we can't play poker with that economy. we do have to come together and we do have to be very forceful in fighting formation and the question i think to us is where is labor in this discussion. we would host a round table, business would invite labor and would invite secretary ross to texas, and let's all sit together and let's talk about how to solve immigration by having a robust discussion on ratifying our trade relationship with mexico. stuart: okay do you think the president is bluffing? >> well i think he's very frustrated and i think he's really done a good job of saying we have to fix this issue, and so that's why we say let's bring the head of the afl cio to texas let's bring secretary ross. let's all sit at a table and
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help the president solve this issue by ratifying u.s. mca. stuart: okay. >> that's what the texas association of business is all about jobs and paychecks. stuart: let's get something done jeff mosley thanks for being with us. >> yes, sir. stuart: i want to get back to my editorial that you may have seen at the top of the hour. i say there will be endless investigations of president trump for the next two years and now they're going after his tax returns. what does the president of americans for tax reform think about that? he's on the show, and he's next. >> ♪ ♪
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stuart: here is my opinion. the democrats are going to continue with endless investigations. the latest is they're investigating and they want to see the president's tax returns. grover norquist is with us. grover? >> yeah. stuart: look, the ways and means committee wants his tax returns. now, we've got kevin brady just saying that i think this is another step in the democrats misguided roche to impeachment, i've got that but the ways and means committee is supposed to write the tax code. the ways and means committee will razor lower taxes, you know , and it'll get none of that
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for the next two years, and nothing due these investigations >> well this is what the democrats are planning to do instead of legislating. if they pass a bill like the green new deal legislation is, it's embarrassing it's tough to run in the next election so they don't want to put down in writing what their agenda is. they want to talk about something else. i'm concerned because look, it's bad enough on tax day you have to pay a great deal of money to the federal government. the violation of your privacy is an additional problem and we've seen with under the obama administration, people are leak ing tax information that was illegal, but it was put out into the newspapers and on to social media, and the government ought not to ever share your tax data, period. we ought to make taxes lower, but also protect your privacy. there's a very bad idea that the democrats have pushed for years as a way to raise taxes. stuart: well what's the ways and means committee going off
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looking for the president's tax returns for the last six years what are they doing here? >> they're avoiding putting in writing the tax increases they would impose if you elected a democrat president, a democrat senate, and nancy pelosi. if they were to write down the tax increases they have in-store for you they'd lose the house in 2020 so they don't want to do that. they want to do anything, play video games or this. they're not going to write tax policy and let you see this. stuart: okay well here is a tax that both sides want there is a bipartisan effort to raise the gas tax that will suppose supposedly pay for infrastructure. you don't like it but it just might happen. >> two things there's always been a call for the spenders in washington including some republicans on appropriation to raise the gas tax. here is the challenge with that. most of it 98% of the roads in this country are state and local what is the federal government
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doing? paving the part of the roads between the states? we've built the interstate highway system that's been built the politicians in washington who like to hand money out to get favors they like having a big pot of cash that they can hand out. this money ought to stay at the local level and stay at the state level we should be cutting the federal gasoline tax and letting state and local governments do it. they already divert much of what's supposed to go to roads and bridges from the federal gas tax, instead it goes to subways, and to light rail, which has nothing to do with roads except they get in the way of roads and they also pay for the over spending which is -- stuart: i've got to go but i'll leave it like this, grover norquist. >> no gas tax. stuart: we heard that loud and clear grover thank you very much indeed. all right, everyone there will be more varney after this. this is my headquarters.
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stuart: consider this, there are reports that president trump will name herman cain to a spot on federal reserve. bet you're looking forward to the confirmation hearing. liz: when herman cain goes up against the senate democrats in senate banking he is charming, folk ski, funny. that would be high
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entertainment. ashley: there he is. stuart: he would balance it out. steve moore an herman cain balances it out. two political supporters. by the way, everyone herman cain is on this program tomorrow morning. ashley: excellent. stuart: connell mcshane is in for neil. connell: you put the news out there a little self-promotion for tomorrow. stuart: self-promotion we're very big on that. connell: nothing wrong with that stuart, great show as always. welcome to "cavuto: coast to coast." a lot going on. a lot is in washington. connell mcshane in for neil. we'll start at white house where president trump is meeting with the opportunity and revitalization council. we'll keep an eye on that. kind of first two big meetings. we'll bring you any news that comes out of it but i have to say our top story involves that second meeting hopes of a trade deal. the hopes for a summit possibly between president trump and

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