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tv   Varney Company  FOX Business  April 26, 2019 9:00am-12:00pm EDT

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trump. it's not going to be the economy. >> we were talking about how the democrats are going to counter. that's a big number they have to contend with. maria: 8.6% in terms of ip spending. great to see everybody. have a great weekend. "varney & company" begins right now. stuart, take it away. stuart: good morning, maria. good morning, everyone. how did our economy do in the first three months of the year? very, very well. an expansion rate of 3.2%. look, i don't play the expectations game, but this is way beyond what was expected. the period right after christmas was supposed to show a downturn. well, it's anything but. question, why is socialism taking hold among democrats when capitalism is doing so well? i repeat, 3.2% growth first quarter. let's see the impact, left-hand side of your screen, here's the markets. we were flat to lower before the number came out. we are still pretty much the same, flat, ever so slightly lower on the dow, but the s&p
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and especially the nasdaq on the upside. s&p and nasdaq staying very close to their all-time highs. the dow just a couple hundred points away from its high. next one. how did amazon do right after the holidays? very, very well indeed. certainly in terms of earnings. over $3 billion in profit in 12 weeks. that's a record for amazon. they are expecting a modest slowing in sales but they are going to spend $800 million to fix it and they propose one day free shipping for prime members. the stock is right now up about 33 bucks, $1936. it's pretty close to a $1 trillion valuation. big trouble coming to the border. president trump's doing something about it. overnight, 1,300 migrants broke out of a camp in southern mexico. they were members of the latest big caravan. the president says he will move more troops to the border to cope with their arrival and he's
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giving the border patrol a raise. wow. big day. friday, always a special day. we have the story of a woman who woke up after 27 years in a coma. you get it all. "varney & company" is about to begin. stuart: president trump is heading to the nra convention in indianapolis. he's going today. he will get a friendly reception from that crowd, especially with that stellar economic number. 3.2% growth in the first quarter annualized, that is. come on in, john lonski. he is an economist. >> not that long ago i was looking for growth of one half of one percent. now we are at 3.2%. what happened? stuart: i think those are huge numbers. is there anything wrong with them? >> okay. the naysayers will tell you that
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while gdp grew by more than 3%, real consumer spending barely grew by just over 1%. one of the reasons why this number was so strong was because of an unexpected increase by inventories which isn't necessarily a good thing except for the fact that this buildup of inventories points towards the continuation of low price inflation and the other factor at work was a narrowing of the trade deficit. exports up 3.7%, imports down 3.7%. stuart: there's a lot of good news in this report. now, just for a second, take me into the next three months. >> consumer spending is going to grow more rapidly. it's not going to keep growing at this 1%, it's going to head up to 2% to 3%. it's going to pick up considerably. we saw evidence of that in march retail sales reports, where retail sales excluding gas station sales were up by more than 1%. stuart: if we go into another expansion in the next three
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months, doesn't that make it the longest expansion -- >> it will be the longest u.s. economic recovery in history. call it the obama-trump recovery. we will keep chugging along i think well into 2020 if not beyond. stuart: i know you cover the big picture economy. tell me about amazon. 3.56 billion worth of profit in 12 weeks sounds good to me. >> incredible. that was one of the big survivors of the bursting of the tech bubble in the late 1990s, you remember. at that time they had a very low bond rating, everybody was frightened but jeff bezos, my goodness, he's a genius. stuart: i think i remember interviewing him in the late '90s. his stock had just gone public. >> right. stuart: it was right about zero to two or three bucks. i didn't see what was coming. >> he should have told you. great business model. stuart: let's bring the company in on this one. amazon. i'm calling it a stellar performance.
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ashley: blowout. absolute blowout. susan: they are profitable and yeah, it's interesting because for a long time they weren't profitable, that wasn't their business model but they are keeping down on costs which has been a great transition. ashley: do you remember back in the day there was all the criticism, they kept reinvesting any money they made, when are you going to show us a profit. look what they've done. stuart: this thing with free one' day shipping for prime members, that makes prime membership almost a must. susan: it will cost them $800 million to offer that, you know? we are paying $120 a year for prime membership. stuart: yeah, but if you are bringing in $3.56 billion worth of profit in 12 weeks, you can afford $800 million to fix whatever's wrong with your -- susan: okay, what about the amazon cloud? revenue is not growing as much as it used to. still, it's a very fast rate but revenue growth for the amazon
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umbrella -- stuart: negative? susan: i'm saying growth is slowing, profit doubling. stuart: that's a fair point. the cloud business. not growing as fast as it was. maybe that is why the stock hasn't yet gone to $2,000. ashley: maybe. just shows you there's room to grow. stuart: yeah. it's pretty close to a trillion. what a company. okay. by the way, if you look on the bottom right-hand corner of the screen, the futures have just turned positive. we were negative before the gdp number came out. it's a great gdp number. now we are ever so slightly on the upside for the dow. look at that nasdaq, powering ahead again. that's amazon for you, up about a half percentage point. what a day it's going to be. let's get to politics. lot to go at. the border crisis, here's the news that broke overnight. 1,300 migrants broke out of a detention center in southern mexico. meanwhile, president trump sending more troops to support the border patrol, and he's giving border patrol officers a raise.
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listen to what texas attorney general ken paxton told us about the constant illegals. roll tape. >> we're still spending, you know, $600 million, $800 million, try to help with the problem. it's just not enough. stuart: $800 million being spent by the state of texas because of the illegal problem. lance gooden with us, republican from texas. mr. congressman, that's an awful lot of money. how do the people of texas feel about this? >> you know, the people of texas have historically stood up when the federal government did not and when i was in the state house, we were happy to spend money from our rainy day fund out of our budget for border security because washington constantly failed. you know, you talked about the migrant camp yesterday and i hear all these stories, but how could that be if the democrats, as they say there is no problem on the border. democrats won't admit we have a crisis on the border so it's so frustrating when i hear these stories. stuart: isn't there a rising
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sense of anger in texas and elsewhere near the border, that you've got to pay for this? >> yes, it's infuriating but you know, people across the state of texas are so fed up. we have been fed up for years. we are actually okay with spending this money because we know we can't count on the federal government to. it's very frustrating. stuart: now, we got news this morning that the economy grew at an annual rate of 3.2% in the first quarter of the year. that's a very strong growth rate. texas just played host to bernie sanders. he was on the stump in texas, preaching socialism. how did socialism go down in texas when the next day, we are growing at 3.2% growth? >> you know, we've got lacking urban areas in the state of texas but the average texan laughs when they think of bernie sanders. i think if i were a progressive democrat that prided myself on diversity, i would be embarrassed that bernie sanders and now joe biden are leading the polls in this democratic race for president. it's a joke and texans aren't
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going to fall for it. stuart: you think texas is solid trump in 2020? >> absolutely solid trump. we are going to have to work for it. we're not taking it lightly. we had a rough go of it this last election cycle but i think a lot of that was a factor of historical midterm problems combined with some candidates that maybe took things lightly and they have definitely gotten their act together. we are getting ready for a tough but successful 2020. stuart: okay. congressman, thanks very much for joining us today. great day. thank you very much for being here. then we have uber. they lowered their -- i will call it their target market value. it was $100 billion. what is it now? ashley: they were going to say $48 to $55 a share, which would have been $90 billion to $100 billion. now they are racheting it down to $50 a share which would put that valuation at anywhere between $80 and $90 billion. but this company has looked at what's happened to lyft, that had an ipo price of 72 bucks and is now down more than 20% after
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that. they are kind of racheting down their target valuation i think in response to what they have seen with lyft, and they don't want to come out priced way too high. susan: the road show starts today and standing room only for lyft. we will see if the disappointment in their ipo is tempered down investor enthusiasm but from what i'm hearing, they are going, they will list on the new york stock exchange probably in mid-may. stuart: that's only about three weeks away. the road show starts today. okay. interesti interesting. lyft at $56 this morning. check the futures again. we are going up, look at that, 40 points up for the nasdaq. i guess that's amazon which is up over 30 bucks a share. then we do have the dow turning around, showing a gain of about 20 points at the opening bell on a solid six-point gain for the s&p. it is a busy day for president trump. he's going to indianapolis to give a speech at the nra convention. that's scheduled to happen in our 11:00 hour. we will take you there for that speech.
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then he goes back to d.c. for a meeting with japan's prime minister -- president, rather -- no, prime minister abe. susan: prime minister. stuart: they are talking trade. this is clearly a live action presidency. new details on the next james bond movie. daniel craig will reprise his role as 007 but you will never guess who's playing the villain. it's a big name. ashley: it is. stuart: we will tell you, but not yet. president obama says he's not ready to endorse any democrat candidate. joe biden says he asked obama not to endorse him. you buy that? i'm not sure about that. we will get into it after this.
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stuart: as we told you, futures have now turned positive. not much for the dow but look at that nasdaq, up 35 points at the opening bell. the gdp number, very strong. that has something to do with the market action this morning.
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more details coming through on the next james bond movie. i know that daniel craig is bond. who is the villain? ashley: rami malek. he's the one who won the oscar recently for his portrayal of freddie mercury in "bohemian rhapsody." by the way, daniel craig is the longest running bond. know who he just passed? roger moore. he did seven squeaequels. they will foilm in norway, ital, jamaica. susan: there's a new bond girl, too. part of the attraction. stuart: you know her name? susan: no. i would prefer to play the villain, to be honest. stuart: how about this one. joe biden says he told president obama do not endorse me.
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roll tape. >> i asked president obama not to endorse and he doesn't want to -- we should, whoever wins this nomination should win it on their own merits. stuart: come on in, pete hegseth, weekend host of "fox & friends." are you buying that? >> no, i'm not buying it. if you buy that, then i've got a bridge to sell you. i think the closest bridge is the bay bridge here. no one buys that. of course he would have loved to have barack obama's endorsement, like that comes with money, comes with other opportunities, bundlers. he wants to say that because he couldn't get it to begin with. i thought his second answer when asked by another reporter, you know, what you say to other democrats if you're going to win, that's up to the democrats. he doesn't seem to have a rationale for his candidacy other than obama 2.0. when you talk to folks here which we have all morning long, voters in delaware who voted for him multiple times, say nice guy, good at retail politics but
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which joe biden will show up in this campaign. stuart: we haven't got a clue what he will say about the green new deal, taxing the rich, wealth tax, et cetera, et cetera, et cetera, or immigration, or the border. i have no idea what he's going to say. i want to ask you about the president on his way shortly to the nra convention in indiana. do you think the bump stock ban is going to come up, because that occurred on trump's watch and a lot of nra people did not like that ban. what say you? >> yeah, listen, i don't either. i don't like limits on the second amendment. i believe in responsible gun ownership. i think it's not up to the federal government to tell us what we should own and what we should carry and put restrictions on it. he will be well received, no doubt about that, at the national rifle association, but yeah, in light of the pressure that he's faced, that's one place where he's been able to relieve some pressure from his perspective. it doesn't surprise me, but he will be warmly received. stuart: now, you usually go towards a very trump-friendly
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audience. is that a trump-friendly audience there in delaware that you've got? >> stuart would like to know if this is a trump-friendly audience. we interviewed some democrats, we did, we had democrats on the program in a couple hours on "fox & friends" but in the 7:00 hour we literally couldn't find a democrat. we were on the street yelling for one. this is trump country this morning. stuart: glad to have you on the show and all of those people behind you. thanks to everyone. we appreciate it. pete, see you this weekend. look at futures again, please. a tiny gain for the dow, up maybe six or seven points. i've got to say it again, the nasdaq up about 30, close to a half percentage point gain. new survey on opioids. who do most americans blame for the crisis? we have an answer for you coming up. it's going to be a big weekend at the box office.
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"avengers: endgame" making its long-awaited debut. i'm told it's a very big deal. yes, it is. could bring in more than a billion dollars for disney this weekend alone. what a story. we're on it. we're back after this. i knew about the tremors. but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions.
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but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid.
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morning. we're looking at a gain of about 30 bucks a share as we speak. stellar earnings report late yesterday. now this. harvard business review ranked the world's best ceos so who came out on top? susan? susan: i will go through the methodology first of all, then bring in ashley as well. we will talk about some of the best ceos in the world. the harvard business review all-encompassing, they look through an index of 70% of the world's biggest companies. okay. so they flashed it on the screen already. you see the names, pablo isla, jensen huang, bernard arnault, francois-henri pinault, and elmar degenhart. it's a very complex methodology. they tracked the 70 biggest -- 70% of the biggest companies in
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the world and adjusted total returns, because say a lot of money was flowing into the u.s. and because you are a u.s. company, you do well. also, the industry adjusted it as well. if you are in, say, tech, yes, there's a lot of money that goes into that and inflation adjusted as well when it comes to dividend share buy-backs. here's something encouraging for you. one of the best ceos in the world, i would say probably the most talked-about ceo this week is a man that's helped lift microsoft market cap by $500 billion since he's tooefraken o third trillion dollar company in the world, sateya nadella. stuart: where is he? susan: not in the top 30. stuart: not in the top 30? susan: it's very hard to get in. jamie dimon barely made it there. jeff bezos has been on the list every single year they have done it. stuart: but nadella who turned around an aging behemoth?
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susan: bob iger was only 32. there's a lot of criteria you have to meet. it's hard. stuart: i will take that under advisement. susan, thank you very much indeed. let's add futures. we are opening the market in less than five minutes. we are going to be up on the dow but not by much. look at the nasdaq, up about a third of one percent. amazon is doing real well. we will take you to wall street momentarily. this is my headquarters.
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stuart: now, the president has been speaking to reporters as he left the white house to go to indianapolis for the nra convention. we know a little of what he's had to say. he says he's thanking china for helping the u.s. with north korea. he appreciates putin of russia, putin's statements on north korea. he says that china trade talks are going very well and he said america has paid no money for hostages. that's an apparent reference to the medical bill we received for the care and treatment of otto warmbier, who was, well, i don't know how to characterize it but he left north korea, came back to america and promptly died. he was in a comatose condition
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and promptly died. so the president says we didn't pay any money for hostages. we'll have the full tape for you momentarily. we are coming up to the opening bell this friday morning. we are going to open slightly on the upside for the dow but strongly on the upside for the nasdaq. we will be watching especially amazon. here we go. we are off, we're running. down six, down seven in the early going, down 16. but i see a lot of green on the left-hand side of the screen. let's leave it at that. down a tiny fraction for the dow industrials in the very early going. now show me the s&p 500, please. where that is? that is down a tiny fraction. i want to see the nasdaq. let me have a look at that. i'm pretty sure that's going to be up. it's not. well, well, well. ashley: sometimes you get it wrong. sometimes you get it right. got that one wrong. stuart: the nasdaq opening down about a quarter percent. now, with dow earnings today from chevron and exxon, they are dow companies. chevron's up, what is it, 40
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cents. exxonmobil is down $2. a mixed bag for the big oil companies. but look at intel. they reported after the bell yesterday. that did not please the analysts or investors. that stock is down a whopping 8.8%. ouch. now, here's amazon, up $34 a share, close to 2% gain. $1,936 a share. getting pretty close to a trillion dollar valuation. joining us now, gary kaltbaum joins us this 9:30 morning and so does debbie dietz, susan li and ashley webster. 3.2% annualized growth rate in the first quarter, gary, what do you make of that? >> the markets forecasted it in the first quarter. remember a lot of people were saying the end of the world was coming, the market kept going up and the market's smarter than most opinions, and here you go. let's just hope it continues. that is a huge number, it is a huge help, it tells you we've
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got some momentum here and if we stay in the 3s, nothing bad happens. susan: blowout number because we started off the year with the longest ever government shutdown. people were pricing in zero growth for the first three months of this year. this is blowout because i think the expectations were ranging from 1% to 2.9%. this is way above it. >> a goldilocks moment. we saw no inflation this latest report so obviously even though we have the strong growth, the fed was justified in staying on hold. stuart: gary -- >> let's not forget how weak europe and asia has been and it has not affected us. stuart: why is the market opening this friday morning on the downside after a report like that? >> i think we have had a monstrous run since january 4th and the fact that we pulled back a little bit, i don't think is a big deal. just remember, you are in earnings season. there are things that will affect it. intel is definitely an anchor.
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the semiconductors that have been strong will take down the nasdaq to a certain extent. amazon helps it out a little bit. stuart: intel is a dow stock, isn't it? >> it's a dow stock. ashley: exactly. [ speaking simultaneously ] ashley: you have a ceo who is cleaning house. this is an earnings miss on the former ceo's watch. this is a refresh here. we like intel. keep an eye on energy today. oil is down nearly 2%. the big oil companies are down. that's dragging the dow down as well. stuart: wait a second. isn't intel the reason why the dow is down? >> one of the reasons, yes. and exxon. stuart: it's taken 30 odd points off the dow. susan: intel has a big problem because with the qualcomm and apple settlement, that pushes intel out of 5g. revenue growth and the future of this company is a little sketchy. ashley: 31 points on intel. stuart: if it wasn't for intel the dow would be up. got it.
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fractionally. amazon, record profit. $3.56 billion in 12 weeks. it's spending big on one-day free shipping for prime members. sounds good to me. >> absolutely. obviously, aws, the cloud, is driving their profitability. note that that's slowing just a little bit from a year ago and so forth. the other thing that's interesting is how much they're investing. it's not just being on the internet now. it's that quick delivery. they are taking the prime from two days to one day, they are investing heavily. that will position them well. stuart: would gary kaltbaum buy it at $1917 a share? >> no. it just moved up 400 points off the low, actually about 500. i would wait for a pullback. let me be clear. those numbers on the earnings front are just huge. i went through them. they are real numbers. sometimes you get tax rates moving around. those are darned good numbers. my only negative is you still have deceleration of sales growth, but that's because the company is getting so big it's just tougher to continue to grow at very large rates.
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susan: so sales growth, revenue growth, slowest in four years. also advertising growth, which has been doubling each and every quarter, actually slowing down as well as the cloud. more profitable, slowing revenue growth. it depends on your outlook. a lot of people pencil in more than $2,000 for this stock. stuart: they do indeed. uber has lowered its target market value again. was $100 billion. now they are looking at $80 billion to $90 billion. is this because of lyft shares? >> absolutely. job one in investing is don't lose money. look at all those institutional investors who bought into the lyft ipo, they are down 22%. that's got to make them gun-shy when it comes to uber. stuart: would gary kaltbaum buy lyft at $55 a share? >> i said no at $87, i said no at the ipo, i say no right here. momentum is to the downside. here's a dirty little secret. i know a lot of people who bought uber in the pre at $50 and now they are saying the ipo
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is going to be $45 to $50. they will probably be under water. just remember, both companies lose a ton of money and that's not going to change any time soon. it's good to see there is some logic behind some of this. >> let's be a little positive here. susan: i agree. >> pay pal just invested $500 million. i think that's a strong vote of confidence. let's not be too negative here. >> they can be wrong. susan: they can. the road show is starting and oversubscription usually means that you will do well on day one, given the enthusiasm from the lyft ipo and the road show, i can encourage that probably uber will do, too. stuart: day two, day three, day four we have to worry about. susan: second month, third month, yeah. >> i have news for you. lyft was oversubscribed, too. be careful about that. stuart: now, despite the sharp drop in intel which is a dow stock, which has taken points off the dow, we have now moved to a break-even point on the dow
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industrials. six minutes in, we are down -- now we're up. i will call this absolutely dead flat. there you have it. 3m were down big-time yesterday. they came in with a weak report. the stock is actually down a little more this morning, only three cents but no bounce back yet for 3m. american airlines cut its forecast. it will take a $350 million charge on those 737 boeing max jet groundings. american airlines is down nearly 2%. colgate-polmolive up nearly 2% at $70 a share. better profit at goodyear tire, revenue falls short, doesn't matter, it's up 2%. go figure. oil, where are we, now at $64 -- oh, look at that. we are down a buck. ashley: it's pulling down the dow, the energy sector. stuart: regular gas, the average now is $2.88 per gallon across the country. president trump's offshore drilling plans on hold.
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can't do it because of a court ruling. looks like a big win for the greenies on this one, doesn't it? >> that's at the lower court level. this is going to be taken to appeal. the fact of the matter is we have a much lower oil price than we did four years ago. my guess is industry's pressing just a little bit less to drill offshore. of course, we are coming into the political season. no one wants big oil derricks off the coast before the election. stuart: the president is on his way -- well, the tape is on its way so we can tell you exactly what he said earlier this morning. meanwhile, watch out for mcdonald's. they are bringing international menu items from france, china, spain and elsewhere to its global headquarters restaurant in chicago. does that mean we are going to see all kinds of foreign -- >> how about the waffle from holland or the extreme bacon burger from spain? stuart: it would liven up the menu. >> i think so, yeah. >> would you like cheese and bacon on those fries? stuart: oh, yeah. one question before we go to the
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president, gary kaltbaum, would you buy mcdonald's at $197? >> only on pullbacks right now and just realize mcdonald's sales have been down 7% over the last year. they have been making a high end product. they need to bring in some new products. this is a good move on their part. the waffle will sell very, very well. >> i will be a buyer. susan: streamlining their menu, especially late night takeout. stuart: all i want in a fast food restaurant is fast food. just give it to me and give it to me now. okay. here's the tape. he's about to speak. listen in. >> i'm not allowed to comment on the new gdp numbers until about 10 or 15 minutes from now, so i will not comment on them. the country, though, is doing very well in every respect. i mean, we are just doing well. we're knocking it out of the park, as they say. and we're very happy about that. we did not pay money for our
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great otto. there was no money paid. there was a fake news report that money was paid. i haven't paid money for any hostage and i've gotten approximately i think it's 20 or 21 out. we don't pay money for hostages. the otto case was a very unusual case, but i just want to let you know, no money was paid for otto. [ inaudible question ] >> i never told don mcgahn to fire mueller. if i wanted to fire mueller, i would have done it myself. it's very simple. i had the right to. and frankly, whether i did or he did, we had the absolute right to fire mueller. in the meantime, i didn't do it. i'm a student of history. you see what you get when you fire people and it's not good, but there would have been nothing wrong with firing him. legally i had absolute right to fire but i never told don mcgahn
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to fire mueller. by the way, and mueller finished out his report. no collusion and no obstruction. [ inaudible question ] >> i think we beat him easily. [ inaudible question ] >> they have to get the shots, the vaccinations are so important. this is really going around now. they have to get their shot. reporter: how old is too old to be president? >> well, i think that i feel like a young man. i'm still young. i can't believe it. i'm the youngest person -- i am a young vibrant man. i look at joe, i don't know about him. i don't know. reporter: what's too old? >> i would never say anyone's too old.
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i know they are all making me look very young, both in terms of age and i think in terms of energy. i think you people know that better than anybody. yeah. [ inaudible question ] >> i've answered that question and if you look at what i said, you will see that that question was answered perfectly, and i was talking about people that went because they felt very strongly about the monument to robert e. lee, a great general, whether you like it or not, he was one of the great generals. i have spoken to many generals here right at the white house, and many people thought of the generals, they think that he was maybe their favorite general. people were there protesting the taking down of the monument of robert e. lee. everybody knows that. [ inaudible question ] reporter: -- wants pompeo to not be part of negotiations.
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what do you think about that and what's the prospect for talks with north korea? >> i think we're doing very well with north korea. a lot of progress is being made. i appreciated president putin's statement yesterday. he wants to see it done also. i think there's a lot of excitement toward getting a deal done with north korea. in the meantime, when i came here, there were nuclear tests, missile tests, rocket tests. we got our hostages back. we got remains back and continue to come back from the war that our great heroes, the remains. there's been no tests, there's been no nothing. so at some point you're going to report the facts. i have a great relationship with kim jong-un. i appreciate that russia and china is helping us and china is helping us because i think they want to. they don't need nuclear weapons right next to their country. but i also think they are helping us because of the fact that we're in a trade deal which by the way is going very well. reporter: will you let don
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mcgahn testify? >> what we're doing is executive so what we're doing, in the history of our country, there has never been a president that's been more transparent than me or the trump administration. i let white house counsel mcgahn testify. i let everybody testify. excuse me. i think mcgahn was in there for 30 hours. whoever heard of such a thing? but i said i want everybody to testify. obviously mcgahn thought he testified fine because he was with the administration for a long time after that, and i think he said he was just doing enough with respect to the appointment of judges by the administration, but i let everybody testify. there's never, ever been transparency like this. so, so, just so you understand, so we got a great -- excuse
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me -- we get the ruling which i knew we were going to get because i have nothing to do with rush stsia and the campaigo we get a ruling, no collusion. we essentially get a ruling no obstruction based on the facts our great attorney general made an immediate decision. there was no obstruction. so we have no collusion, no obstruction. we had total transparency. we gave 1.4 million documents, if you can believe such a ridiculous thing. 500 people testified. we had 18 people that were trump haters, that includes mr. mueller. he was a trump hater. wait a minute. wait. wait. wait. reporter: can he testify? >> with all of this, with all of this, with all of this transparency, we finish no collusion, no obstruction, right? then i get out the first day, they're saying let's do it again. and i said that's enough.
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we have to run a country. we have a very great country to run. and frankly, when i go through it with the house and the senate and we have no collusion, no collusion, no obstruction, no obstruction, then we have again we have to go through it? this is a pure political witch hunt. we did nothing wrong and the only thing i did is make our country stronger, give it the numbers like people haven't seen before. what we're doing in this country financially with the military, with our veterans, you look at veterans, we now have veterans choice. nobody's ever done what i've done in their first two years. so if i'm guilty of anything, it's that i have been a great president and the democrats don't like it which is a shame. i'm going to indianapolis. we are going to the nra and we look forward to it. reporter: how will you beat
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biden? >> i would say easily. stuart: that's the president wrapping up his conversation with the reporters there. how would he beat biden and his response was easily. he had a lot of other things to say, too. he said the china trade talks are going well. back in the day, that used to help the market. these days, no impact whatsoever. he said he did not pay -- america has not paid for the release of hostages from north korea like otto warmbier. he did say -- he did not address, by the way, he did not address the blowout performance of the economy in the first three months of this year. we got 3.2% annualized growth. he did not refer to that. he didn't -- ashley: i'm not sure, he said i've been told i'm not allowed to address this. maybe he thought it was still before the release time at 8:30, of course it's way after that time which is a shame because i wanted to get his take on the latest numbers which are very impressive. stuart: when he speaks to the nra later today, if he's speaking during our 11:00 hour,
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i guarantee he comes out with 3.2% growth and why not. susan: he did talk about enriching americans but most of the questions of course go back to don mcgahn and he says i didn't fire anybody, if i wanted to, i could, but i didn't. he goes back to no collusion, no obstruction, i let everybody talk to the authorities in the mueller report. stuart: he was asked how old is too old to be president. he said well, i'm a young vibrant man. just look at joe. no response really on the market. we were down about 30 when he started to speak. we are down about 30 now, down 29 to be precise. i guarantee for you more "varney" after this. 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.
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>> i called up opec. i said you got to bring them down. you got to bring them down. and gasoline is coming down. we are doing great. gdp is an incredible number. but remember this. not only that, we have a great growth which is growth, we have great growth and also very, very low inflation. our economy is doing great. number one in the world. we're number one economy right now in the world and it's not even close. so thank you very much. stuart: there you go. he had a second go at it. spoke to reporters as he left the white house. he spoke again to reporters just a few moments later as he arrived there to get on air force one. i want to bring in governor mike huckabee. governor, welcome back to the program. good to see you. >> thank you. stuart: you heard what was said
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there. if you want to pick on anything specific, go right ahead. your reaction, sir? >> well, i think he's continuing to hammer the theme, the economy is doing well. he's also reminding people that as president, he has faced the most intense investigation that we have seen in perhaps forever, and he's still being able to perform his job. he's basically saying let's move on, let's get this country going. can't blame him for that. i mean, $35 million, all these investigations, what have they brought to us? nothing. i think it's time to get the country on track. stuart: yesterday, around noon, we reported that the north koreans had submitted a bill of $2 million for the medical treatment of otto warmbier. this morning, the president says we didn't pay anything to get our hostages back. i think the president is responding there to a very touchy and provocative demand from the north koreans. he went right at it, governor. >> well, he did, and he should. he should make it very clear to
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the north koreans that they are more likely for us to supply them with nuclear weapons than us to pay them $2 million. if anything, they should issue a big heavy apology to the warmbier family who went through a living hell over what happened to their son, and it's just an outrageous insult to the family and really, to the united states of america, that the north koreans would try this. i don't even know what's behind it. they know we're not going to pay that. they know the facts are that otto warmbier was basically murdered by the north koreans and so why they would pretend that they are going to give a bill for his care? it's really disgusting. stuart: he did go out of his way to say that china was helping with north korea, and he appreciated putin -- vladimir putin's comments to the north korean leader. it was very soft pedaling his statements there about china and about the russians.
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any reason for that? >> well, it's complicated. the fact is we need good relationships with all of them. each of them are sort of pieces of the puzzle. the big goal that everybody has, both russia, china, as well as the united states, is to make sure north korea doesn't have nuclear weapons, because nobody believes that north korea is going to help the world be a safer place if they get nukes. not just because of what they might do with them, but even more dangerously, that they might start selling them to the iranians or to god knows who. so that's why it is in the best interests of the united states to play this as a sort of triple front presenting to the north koreans that we'll do all we can to work with you, but you're not going to get nuclear weapons. stuart: as you know, governor, president trump was on hannity last night and he said his team is looking into allegations that the clinton campaign colluded with agents from ukraine to dig up dirt on trump's team. roll that tape, please. >> people have been saying this
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whole concept of ukraine, they have be talking about it actually for a long time. you know that. and i would certainly defer to the attorney general. stuart: governor, he's flipped the script. now he wants -- he's going after hillary clinton now. >> well, it's not about going after hillary clinton, stu. it's really about going after justice. if there were people who abused their power at the highest levels of intelligence and law enforcement in this country, and people who attempted to subvert justice and subvert law, then we need to know who they were, what they did, why they did it and they need to be held accountable. doesn't matter if it's hillary clinton or stu varney. i have a strong suspicion it was stu varney and that's why we have to get to the bottom of it. truthfully, all jokes aside, it is in the best interest of every citizen regardless of one's politics to find out who's dirty, who's not, and to hold people accountable for violation of the law, especially, especially when people hold high
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positions and positions of trust. stuart: i've got to believe when he arrives in indianapolis and addresses the nra, i've got to believe that today's stellar report on the economy will feature much more prominently than it did in his conversations with the reporters earlier this morning. governor huckabee -- >> no doubt. stuart: indeed. no doubt. i'm sure of that. governor huckabee, thanks for joining us, sir. see you again real soon. a move to a rather different story now. according the a new poll, drug companies are to blame for the opioid crisis. ashley: yeah. latest survey, two-thirds of those people surveyed believe that americans believe drug companies are indeed to be faulted for this. also, should faulting doctors in this survey who prescribe these opioid pain pills by large numbers in some cases, they also blamed the government who haven't done enough to expand addiction treatment and arrest the drug dealers, although in recent weeks, we have seen a number of drug companies being taken to task and actually fined
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and sued for essentially throwing out these opioid drugs in massive numbers, creating this addiction crisis. stuart: big pharma which made oxycontin. no reaction to any of this on the stock market this morning. we are down 55 points. the dow is at 26,400. that's the level on the dow. even the nasdaq has turned south as well, despite amazon. disney's "avengers: endgame" hits the theaters this weekend. it's going to be a blockbuster. can anybody tell me why? susan: why? superheroes, chris hemsworth, robert downey junior as ironman. expectations are $120 million to $140 million opening box office take. you guys are just yawning. why? this is exciting. ashley: i'm not 12 years old anymore. susan: this franchise makes tons of money. stuart: enough said.
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there's internal conversation going on here. ashley said i'm not going to see it because i'm not a 12-year-old boy. our producer said well, i'm not a 12-year-old boy either but i'm going to see it. wait a second. this is the last in a 22-movie series. susan: yes. stuart: if they bring in $1 billion, pretty rapidly, it's not going to be the last. surely they will bring it back. ashley: ride that wave to the beach and beyond. susan: there are individual breakouts as well, captain marvel, scarlett johansson in "black widow." it's exciting. you have to have fun once in awhile and suspend your disbelief. it's called fantasy and it's fun. stuart: you should have bought disney stock. ashley: that would be fun. stuart: all right, everybody. big stuff. tom friedman, liberal economist for "new york times." can you believe this? he says yes, we need a wall. i find that very hard to believe but he said it.
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stuart: 10:00 in new york city. this is happening now. we're just getting the latest read on, i think michigan consumer sentiment indicator. ashley: it is. stuart: are we more confident or less? ashley: we're waiting. look the like, looks like, 112.3. stuart: that's the reading? ashley: yes. stuart: that's the number? ashley: that is very good indeed. stuart: sounds good to me. >> is very strong. listen this, number has been dropping a little bit in the last several months. then we saw the gdp number, which showed beneath it, a little slowdown in consumer spending or economic activity. this seems like a pretty good number to me. strong number. stuart: i'm take that. we'll get back to it in a moment. no impact on the market thus far. ashley: when you take out, 97.2. still above estimates. still very strong. stuart: okay. no impact on the market.
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ashley: no. stuart: even though as you say it is a strong number. no impact on the market. we're still down about 40 points. okay, everyone, now this. tom friedman is a big hitter columnist for "the new york times." imagine my surprise when mr. friedman told an interviewer we do need a wall on our southern border. listen to this. >> i'm as radically pro-immigration as they come but it is pretty clear to me unless we can assure a significant number of americans we can control our border, we're never going to have the proper immigration flow i think we need. i'm for a high wall with a big gate, a compassionate, smart gate, so we keep immigration going. stuart: i'm for a high wall. since when has "the new york times" had anything but contempt for trump's wall or anything from trump for that matter? and now their star columnist says a wall is what we need? something is going on here. i'll tell you what it is.
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the democrats are beginning to realize most americans do not want to be invaded. we're unwilling to shell out taxpayer money to accommodate the whole of central america. surely there can no longer be any doubt about chaos and crisis on the border. every day we report large organized groups, walking across, claiming asylum, being related into the america. they're n and the caravans keep coming. one state alone, texas, has to spend upwards of $600 million this year alone on health and housing for illegals, not for americans, no, for illegals. are voters supposed to pay up and shut up? on january the 3rd this year, speaker pelosi said democrats would give nothing for a wall. the next day she jokingly said, okay, one dollar for the wall. that is not funny now. the speaker has backed her party into a corner. she has committed the democrats to blocking border security.
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and some presidential candidates demand no immigration enforcement once they're in, i.c.e. would not be allowed to get them out. no wonder we're being invaded. i show it to you again. 2015, an army of migrants descended on western europe on humanitarian grounds. germany's angela merkel let them in. disaster. voters turned against merkel. surely there is parallel to what is happening here. spoker pelosi says it is humanitarian crisis, so let them in. not so fast. now that the case i don't see is obvious, there is a realization that the invasion is a political disaster for the open borders crowd. democrats take note. and since "the new york times" is your bible, listen to tom friedman. i repeat, i'm for a high wall. this is the second hour of "varney & company" and there is more of it coming up. okay.
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let's get more on the border. i'm not sure -- okay, 1300 migrants broke out after migrant camp in southern mexico. they were the latest caravan to move to the north. that is what is going on at our border. tammy bruce, independent women's forum president. i say the border is political liability for democrats. where am i going wrong? >> that is exactly the issue. this is issue since pretrump. it is recognized as an existential issue for the country. it transcends party politics. it is about every american family. national security affects everyone where we come from life. of course democrats realize it might hurt them. and so this is about a transactional recognition. it is about opportunism for themselves. but the fact of the matter is, they have been fighting for years against certainly, two years of trump but for years
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denying the situation and even trying to make it last because they thought then, it was an opportunity for them as well. this is what the american people now reject. every politician the right thing to do is what is right for the american family. stuart: yes, but, speaker pelosi -- >> yes. stuart: the vast majority of democrats in the house and the senate are in a corner. they have backed themselves into a corner. no money for the wall. one dollar for the wall. no wall. >> it is cynicism, hypocrisy to that comes up to bite you in the end. only way out of it, if you made a mistake, admit it, adjust, move on, especially your one job help the american people, represent us. snap out of it. stuart: you woke me up. tammy. >> my pleasure. stuart: we have a new poll from
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gallup. 23% named government as the biggest problem facing the country, bigger than health care, bigger than immigration. jonathan hoenig is with us, capitalist pig hedge fund manager. >> i don't buy it. stuart: that is right up your street. >> i don't buy it. i think it is malarkey, stuart. i'm calling bs on this one if you will. if everyone thinks government is the problem, why do both parties keep voting for more and more government on both sides of the aisle? democrats are socialist. they want cradle to grave entitlement state everything owned in many cases for government. gop is voting for more and more government. gop talking about using eminent domain at the border, breaking up big technology, maintaining entitlement programs like social security. they talk a good game but at the end of the day they want more government too. stuart: that is interesting. the i thought you were going to
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say the people are right, the people are related. i'll take that. turn to money. that's your area of the lyft stock hit a new low. 55 bucks a share now and because of that uber has lowered its price range for its ipo. now it will be 44 to 50 bucks a share. 80 to 90 billion-dollar value. not 100 billion. would you touch this kind of ride-hailing service, lyft or uber, would you invest? >> it is great early warning indicater to some of the reasons prior market is down, especially we got great economic news. this comes, this is the tip of the sword if you will, these unicorns just coming public now. price is where the rubber meets the road. it is bearish. the fact uber hitting a new low, excuse me, lyft hitting a new low as they are starting to become public. a lot of money people thought they made on the ipo they're realizing they will not make.
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bring you to march of 2000, that is when the market finally peaked in the previous tech boom is when all those ipos started coming public, falling flat. this is an ominous sign. stuart: we do have a big tech boom. look at the big tech companies. we have a boom here. do you think it is coming to an end? >> all i can tell you what we saw march of 2000. we had a tech boom then as well, stuart. companies like palm, or what was grocer? theglobe.com, webvan, you remember that? , i do. >> you were probably in college back then, stuart. stuart: that is very kind and generous of you, jonathan. you know it's not true. >> those ipos are not -- ipos highly anticipated start going down dramatically, that is a bearish sign. stuart: we listen to you jonathan. we listened to you, lad.
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be well. >> have a great weekend. stuart: yes, sir. tammy bruce still with us. i want to talk about joe biden, he is still dealing with the fallout from the anita hill clarence thomas hearings back in the '90s. he says he regrets the way he handled her accusations but anita hill told "the new york times" that his apology is not enough. tammy, will we reach back a whole generation to what joe biden said way back then in the '90s? >> as we discussed comes to the border about opportunism, transactional relationships it is fascinating how he has a sudden need to apologize to anita hill just before literally calls her before he announces he will run for president. was he not upset about his treatment of her a year ago, five years ago? he has been running for president since 1987. when did he suddenly feel bad about the nature of his own performance? that dynamic between clarence thomas and anita hill is still debated.
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is he actually sincere? is all of this nonsense? for miss hill and the left you can never accept an apology, why no matter what the situation is it becomes a difficult dynamic, apologies accepting them ends issue to be used for political gain. it is never going to be enough. nothing is ever enough. the answer always is always do the right thing. always do what you believe in as a result unless there is, look we all make mistakes. but he was in a very powerful position. made a choice how to proceed in that manner and he should at least have acknowledged slightly later on, that he didn't like how he based as opposed to simply recognizing it just before the third time he runs for president. stuart: i'm still waiting to see what he feels about the green new deal, tax increases more red tape and we just got a report economy is expanding. >> his announcement was not on any issues. of course american people -- stuart: anti-trump. >> they wan answers on policies.
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being anti-trump is not enough, it will be a negative for you. stuart: i think you're right. tammy bruce on a friday morning. >> thank you, sir. stuart: check that big board. we have a pretty good read, a very good read on gross domestic product. economy expanding at 3.2% annualized rate. we're down 50 on the dow. two dow components have reported chevron and exxon. both have lower profits, both are down. intel, look at it now, a big drag on the dow. it expects to make less money this year, down 9 1/2%. that is taking all the steam out of the dow industrials. exxon, chevron, intel. the dow stocks way down. so is the dow. amazon though, it made a record $3.56 billion profit in the last quarter. that is 12 weeks. they're expecting a modest slowdown in sales. the stock is up just $11 now,
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1914. coming up the nfl draft kicked off last night. what is it like to get a life-changing phone call. carl join us he plays for the buccaneers. he is with us this hour. half the venezuela venz population could leave the country but maduro is hanging on. are guns only thing that will get him out? president trump is arriving later this hour to speak at nra convention. you will see it here as the second hour of "varney & company" rolls on. ♪ i knew about the tremors.
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stuart: in progress, ladies and gentlemen, an american diplomat says it is quite possible that 15 million people, that is half the population, could leave venezuela, flee, if maduro stays in power. joining us now, mary anastasia o'grady from "the wall street journal." look, you know what i am going to say, what will it take to get this guy out? he is still there. the cubans are protecting him. how long before it takes before the guns come out and we shoot him? >> i don't know when the guns come out -- stuart: i want to take that back. i don't think i should have said that, i'm implying somehow or other he has to go, i don't see any way of getting him out without gunfire. >> i'm going to say that the u.s. has to make it clear to his neighbors, that it is in their interests to cooperate with us and they have said, we're not going to lay a glove on this guy. that is why carlos, the ambassador at the oas came out
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and said with this number. he is trying to impress upon the colombians, chileans, peruvians, you're on the front line of this dumpster fire and you're the ones who will feel it the most and suffer the most. stuart: is it true to say he is only in power now because of the cubans and russians and their secret agents -- >> i would say largely the cubans and i think the trump administration is right what they're doing. they're trying to turn up the heat. they have now put sanctions on any ship that brings oil from venezuela to cuba will not longer go to a u.s. port. they're going to feel that, any of those shipping companies that have been bringing that oil. they're trying these kinds of mechanisms because they do not have support from the south americans. stuart: do we want other latin american countries, venezuela's neighbors, do we want them to use military force to get him out? >> we want them to be on sides with us.
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if there is a decision, in other words we don't want to go in there unilaterally. we want them along with us to cooperate in this effort. if they're not willing to do it i don't see why we send american guys in there, american soldiers men and women to potentially died. people died when we, soldiers died when we removed noriega in panama. why should we be only ones that do that when the people who are going to suffer the most are the south americans? they don't even want to help us? stuart: what is with the cubans with this breakout in southern mexico? there is a camp for migrants, 3,000 strong, overnight, 1300 people broke out, escaped so to speak, led by cubans. what is with the cubans in this? >> the thing is there are more than just central americans coming in these caravans. it is not surprising to me there are cubans in this group, because if a cuban crosses the border they have asylum under
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the, got it, no matter what. >> the law. so it is natural. i think there is something interesting about seeing this breakout because it reinforce what is the mexicans have said all along which is, look we're doing our best to stop this. there is a lot of anti-mexican sentiment in this country and they're blaming mexico for the central americans coming through. in fact i have some statistics here. in february there were, the mexicans detained and repatriated 9894 central americans. in march, 12,746. i mean they're trying to send them back but there is a very strong pull. they're overwhelmed basically. stuart: that is a fair point. if you send 12,000 back you're obviously making an effort. >> in the first trimester of this year 30,000 people were repaytry ited by mexico back to their countries they detained, trying to get to the u.s. they're on sides with us.
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it is an overwhelming problem. why? because of the u.s. asylum laws. stuart: that's true. that -- >> that's a magnet. stuart: that is not going to change. the democrats will not change it, period. >> that's a problem. stuart: i'm waiting for you to say he is gone next week. i will wait for a long time. >> they're looking at zimbabwe, they're looking at cuba, they are saying we can wait this out. i think the trump administration is smart. they're trying to use all the tools they have without using force. that is why they're, you know trying to stop the ships from bringing oil to cuba. they're using the tools they have. if the south americans do not decide that it is in their own interests to do something more aggressive, i don't see why the u.s. should put american lives on the line. stuart: thank you very much for being here. appreciate it. okay, the california governor, gavin newsom, wants an explanation for why goose prices are so high in his state. i can give it to him. remember lawmakers there raised the gas tax.
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the state average now, more than $4 a gallon. we have the full story for you. look at that, 4.49. ♪ you wouldn't accept an incomplete job from any one else. why accept it from your allergy pills? flonase relieves your worst symptoms including nasal congestion, which most pills don't. flonase helps block 6 key inflammatory substances. most pills only block one. flonase. 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday.
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stuart: strong consumer sentiment number at the top of the hour. that helped the market come back a bit. we're down just 17 points. american airlines cut its profit forecast. it will take a 350 million-dollar charge because of groundings of those boeing max jets. the stock is down 2 1/2%. colgate-palmolive. i thought that was part of a conglomerate. it is not. it's a big company in of itself.
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better profits there. they're up a buck 80. 70 bucks, colgate-palmolive. national average for a gal hon of gas, $2.88. but wait for it, california they're feeling pain at the pump. robert gray with us from a gas station in los angeles. it is way over four dollars a gallon there, isn't it, robert? reporter: far above that, stuart. lance take as zoom in. 4.79 if you're putting premium in the tank. stuart, they raised it by 20 cents a gallon this morning presunrise, we were setting up. we saw it going up. if you think about it, that is extra three bucks you will put in the bank. higher taxes here, stricter regulations for the cleaner burning fuel there not really used in other states. they have to make a special blend here. all of this combines for 70% of the spread where you're paying above $4.04 i think is the aaa
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average. as you see behind us, that varies pretty widely. stuart: i'm waiting for some kind of revolt from people of california who have to pay these prices. are we seeing any sign of it yet? reporter: we're not seeing a revolt. we talked to aaa, people are still expected to travel in droves this summer. may cut back number of days, may pack a lunch it will hurt people's pockets if they are paying above five bucks a gallon. we're a month away from memorial day. stuart: thanks for joining us, robert. good stuff. see you later. joe biden, going directly after president trump in that announcement video. by the way he is ahead of the president in head-to-head polls. we're on that one for you. remember nick bosa, set football player who deleted his pro-trump tweets because he worried he might end up playing in san francisco which is a
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hotbed of anti-trump feeling. he was drafted last night, by the san francisco 49ers. brian kilmeade on that coming up next. ♪
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gdp for first quarter threwgrew 3.2% for annual rate. this is far above expectations. importantly, inflation very low. make america great again. i'm sure he will say that again when he addresses the nra later this morning. we'll take you there, you will hear him say it. check the big board. we've come all the way back to break even for the dow, down just one point. if you stay on that long enough, we might go in the positive again. wait for it. not quite. but we'll move on. ford motor company, profits beat, they're selling a lot of high profit pickup trucks and suvs. the stock is up a buck, finally making it back to $10 a share. this is a 10% increase. new morning consul poll found joe biden leads president trump by eight points if there were in a head-to-head matchup. marc lotter, trump 2020 advisory board member.
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marc, the poll showed joe biden doing well with women, particularly well with millenials. what are you going to do about that. >> these polls are rather meaningless. i saw a story earlier this year, every poll going back to 1978, 79 was dead wrong with re-election to the sitting president. with the exception of one shortly after 9/11 with george w. bush. i don't put much stock in these. joe biden al least now will have to fight 19 other candidates. who comes out of the process will be broken, broke, battered. they will face a president with a roaring economy. people feeling confident about our country again. he has a lot of energy, support and enthusiasm, behind his re-election. stuart: you're a confident guy, marc lotter. that is what you are paid for, is that not right? how about this one for you? president trump told fox news's sean hannity, that hillary clinton's campaign colluded with ukraine.
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looks like he is flipping the script, investigate hillary. you don't mind that investigation, do you? >> we need to get to the bottom of this. we already know that they colluded with a foreign operative to produce the phony, fake, dossier and so what else were they doing behind the scenes, trying to influence this election? we have to get to the bottom of this, whether it is what action was being taken by a small handful of rogue operatives at the top of the justice department, the fbi. we know about the collusion with, with the steele dossier. so all these things need to be exposed and i know that we, senator graham, got the inspector general at fbi, department of justice looking into this. i'm confident that information is going to come out. stuart: you know, i think you could say that the american people are kind of investigation fatigued. do you really want to reach back four years? it will be four years by the time you get to the 2020 election? you want to reach all the way back to the previous election,
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say look what happened then? is that really a vote winner for you a couple years from now? >> i don't look at that in terms of politics. actually i look in terms of that making sure that our justice department, our fbi, did not misuse the power of the government. their police powers and they are awesome police powers inappropriately. we had the same thing happen back in the '60s, in the '70s, under j. edgar hoover when they were creating lists of people might not be american or pro-america enough. congress stepped in and put a stop to that because it's wrong. we cannot allow the police powers of the government to be used for partisan purposes under any circumstances. so i look at this more of a civil liberties and protection of our rights as american citizens rather than i do as a political winner or loser because long term, we've got to make sure that never happens again. stuart: have you had input what the president will say to the
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nra today? i asked, we came out with rip-roaring economic numbers this morning. i would have expected him to pound the table on this is that what you're telling him to do today? >> this is official speech. on the political side, campaign side, we are not going to have much or any input on that. but i guarranty you knowing the president as i do, he is absolutely going to focus on the great gdp number and the other things this means. we have to remember earlier this week there was a story in the "wall street journal" about a poll showing american retirees, american workers are more confident than ever before in history about their ability to afford and be financially secure in their retirement. those are the kinds of things that the president's talking about. gdp means a lot to economists, means a lot to the business community, if you're a regular american at home you just want to know your paycheck is going up, your taxes are going down, you can be confident you can afford your retirement.
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stuart: you're right. that poll showed 82% of retirees and current workers will feel comfortable in their retirement. marc lotter, thank you very much indeed. i'm sure we'll see you real soon. >> i look forward to it. stuart: we have brian kilmeade, host of the brian kilmeade radio show. i want to talk is football. you know the story, mr. bowes is a the football player who deleted his pro-trump tweets before the draft he was worried he might have to go to san francisco, a hotbed of anti-trump feeling, he was drafted by the san francisco 49ers. where does that leave him now, brian. >> he has blow back from some of the fans, he was very critical of colin kaepernick. i'm a trump supporter. told by agent and others, might get rid of tweets might get drafted by san francisco. he said as much. he got drafted by san francisco. not according to reports they
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lead the nation in homeless but liberals. one speaker pelosi calls that home. he is getting blowback as a player who he supports as president. not like he is ben affleck supporting al gore. he tweeted that out he liked the president. tom brady basically has, doesn't even bring up the president even though they're friends. you don't see bill belichick talking about about it. there is no upside to doing it. it is pretty sad. stuart: it is sad you have such a politicized game called football. who needs that? i just want to see the game played properly and well. that is what i want. >> you like personal stories more than anything else. bows sachs his brother was drafted number one in the first round. he was drafted number one and his dad was. that is the true life defensive manning story we should talk about today, not who drafted him or who the giants drafted which is whole another story for whole another network. stuart: okay. i will switch gears on you. a massachusetts judge has been
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indicted. allegedly she let an illegal immigrant evade i.c.e., snuck him out the backdoor, closed the courtroom down so he could escape. she has been indicted. you've been covering this for fox news. what is the latest on this? what do you think about it? >> she says this is pure politics because they got the guy back. this is great message. you're 51 years old. you're a judge. you know better. you have an important decision. if someone has to teach you the law, you're not some guy or woman with instinct saying get out the backdoor, my cousin, i see comes coming in the front. people trying to on political process trying to keep i.c.e. away. they are trying to those i.c.e. wants to get for a reason. not because they're just illegally here but transgression they have to. this is city that often defies immigration rules and i love it. stuart: i think the democrats will pay a political price for
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objecting to border security and removal of i.c.e. quickly before you go, i want to ask you about this. boston celtics legend john havlicek passed at 79. to me, that is the end of an era, what say you? >> absolutely. the guy won nine championships with the celtics. was drafted by the browns. could have been a great wide reseaver or tightened. there are players that you are good for this era, you never make it in this era. you never say that about john havlicek. he was durable and never came out with the best team in basketball year after year. he would often say things i could see plays before they happened. if you watch thinks sense on the court, that sense of vision, you only dream bit. if anyone competes in sports wondered why the other guy is always open, the other woman is open, why they know when to shoot, that is a seventh and
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8th sense we can't relate to. havlicek had it. he ex-cueded thing called class. stuart: that is so important. class you have to have it. thank you, brian. >> thanks for having me, stuart. stuart: yes, sir. we're standing by for president trump's arrival in indianapolis ahead of the speech before the nra. he will probably get a pretty warm reception especially after the strong gdp number. you will see it right here when he speaks. overnight millionaire, how will the nfl drafted players handle their newly found fortune. he was in this position only a few years back. he has some advice for the new class of nfl rookies managing their salaries and he is next by the way. ♪
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stuart: i'm going to call it break even day. we're nine. that is not much on a 26,000 average, is it? 26,453 to be precise. look at disney's stock. in part because of "avengers: endgame" opened with a record breaking 60 million bucks in the box office. that was just america and canada. worldwide ticket sales, 305 million in first two days. that is a blockbuster it. disney way up. now this, the nfl draft began last night. a lot of men becoming instant millionaires. the number one pick was kyle letter murray. he was signed by the arizona cardinals. look who is with me, karmas sy, tampa bay buccaneers defensive end. >> thanks for having me. stuart: this is financial show. we'll talk money.
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>> absolutely. stuart: some years ago you were a draft pick. >> yes. stuart: you got the call. you were an instant millionaire, what did you do? >> for me i was not instant millionaire like kyle letter murray. stuart: you got a lot of money. >> it was blessing. i bought myself a car. stuart: what did you buy? a lamborghini? >> i bought a truck, something i could fit in. stuart: that is all you bought? >> that day, yeah. stuart: that day, did did you buy a house? >> no, i did not. no, i did not. stuart: did you give any to relatives? >> not that day. stuart: what about the next week? >> no. i mean, i didn't, not really, no. stuart: you kept it all? >> yep. very selfish, i'm just kidding. stuart: that is very smart of you. >> my mom works in the financial industry. worked with wells fargo and vanguard. she had my best interests. stuart: helped you what to do
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with the money. >> absolutely. stuart: save it, don't spend it. that is my advice. >> absolutely. >> did see say invest it here, not there? >> biggest thing she helped me learn. for players not to be told what to do. to learn. it isn't that difficult to manage my finances in my opinion. stuart: i beg it differ. >> you might have different finances than me. stuart: a young person, a young man, suddenly with tons of money, the temptation is to get the lamborghini, get the ferrari, buy that mansion. >> yeah. stuart: that is obviously the temptation but you resisted. >> that is the image. if you're outside of the top five picks. you're not even in the 1% of wealthy people. which people don't really realize. there are a lot of after taxes, people that are not instant millionaires. i was not even close to being an instant millionaire. there are those conceptions that we are. stuart: yeah. >> where people act around us and expect us to pay for things but we really need to be more
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frugal with our money. that is what you're seeing across the nfl which is great. stuart: here is my message. be tightfisted. nothing wrong with thrift. you made it, you keep it. >> for sure. stuart: you're telling me players these days are much more savvy about what to do with their money, is that true? >> absolutely. my grandfather said a smart man learns from his mistakes a smarter man learns from somebody else's mistakes. that is what you see nfl players doing now. we heard the horror stories. countless guys going bankrupt. everyone is being smarter. i'm just another guy being smart with his money. you can get any number of players to get on the show talk about being smart with their money. stuart: we do. >> it is very encouraging. stuart: what are you, defensive end? >> i'm a defensive end, yes, sir. stuart: what is the recognize between defensive end and tight end? >> opposite side of the ball. one guy scores touchdowns. the other stops it. stuart: your job to stop the
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quarterback? >> very fun job, absolutely. stuart: how long do you expect to stay in the sport? >> appearing long as i can. stuart: you managed it properly. made a financial success. >> i made a couple mistakes. they were my mistakes. they were not somebody else making mistakes for me. i think it is important to learn from mistakes. stuart: great having you on the show. come back. >> anytime. stuart: thank you very much indeed. >> thank you. stuart: some cities, some, san antonio, buffalo, for example, they try to keep chik-fil-a out. however, montana's attorney general has a message. come here. we'll be, you, chik-fil-a, you will be welcomed with open arms. montana's ag is next. president trump is going to address the nra next hour. he is in indianapolis. you will see it all right here. that should be entertaining. ♪
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so, jardiance asks... when it comes to type 2 diabetes, are you thinking about your heart? well, i'm managing my a1c, so i should be all set. right. actually, you're still at risk for a fatal heart attack or stroke. even if i'm taking heart medicine, like statins or blood thinners? yep! that's why i asked my doctor what else i could do... she told me about jardiance. that's right. jardiance significantly reduces the risk of dying from a cardiovascular event for adults who have type 2 diabetes and known heart disease. that's why the american diabetes association recommends the active ingredient in jardiance. and it lowers a1c? yeah- with diet and exercise. jardiance can cause serious side effects including dehydration,
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genital yeast or urinary tract infections, and sudden kidney problems. ketoacidosis is a serious side effect that may be fatal. a rare, but life-threatening, bacterial infection in the skin of the perineum could occur. stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. do not take jardiance if you are on dialysis or have severe kidney problems. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. so, what do you think? now i feel i can do more to go beyond lowering a1c. ask your doctor about jardiance today.
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stuart: go nowhere friday, the way it looks to me. we're down 10 points on the dow industrials even though the economy is expanding at better than 3% growth rate.
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down nine as we speak. what is the backlash against chik-fil-a from the left and some others. some politicians are not happy with their religious stance on gay marriage and health care. montana's attorney general says he wants chik-fil-a to open more locations in his state. attorney general tim fox joins us now. mr. attorney general, welcome to the show. >> thanks, stuart. thanks for having me on. stuart: you will be called a hater for this. what is your response? >> well, you know, i'm not talking about anyone's views or opinions here. i'm talking about the rule of law. certainly the fact that our founders found it very important that they include religious freedom in the constitution and the bill of rights. i think all americans need to be aware of the fact that you cannot discriminate against people based on their religious views. and if we don't stand up for that principle, even though
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buffalo, new york, san antonio, texas, are a long ways away from montana, those kinds of actions by government officials illegal and unconstitutional will be coming to a theater near you. stuart: okay. you want chik-fil-a to move to montana. you put out the welcome mat for them. are they there already? i mean, you just want expansion? >> well, let me be clear. beef is king in big sky country. we do have one chik-fil-a in montana. this is the largest state geographically. we have a lot of room for more chik-fil-a. the point is montanans don't discriminate against people because of their religious views. we all need to stand up for those important principles and freedom. stuart: i have to tell you, when chik-fil-a opened their first
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location, the mayor said boycott them. the result was lines around the block which are still. there what do you say to that? >> i have eaten at chik-fil-a. the food is very good. everyone is welcome at chik-fil-a restaurants. they don't discriminate based on anything. certainly again, they might have to expand their menu in montana though because every once in a while we might need a nice steak sandwich. stuart: i'm sure you will tell them. mr. attorney general, tim fox, thanks very much for joining us, sir. we appreciate it. thank you, sir. >> thank you. you're all welcome to come to big sky country. stuart: montana is the only state i have never been to. i might take you up on that invitation. >> i'm in the phone book. call me up. stuart: see you again soon. how about that? i'm going to segue to a medical story for you. a patient in the mid-east woke up from a 27-year long coma. what happened?
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ashley: yeah. she was driving her son home in 1991 in the united arab emirates. her son was four at the time. there was a terrible crash. her son survived. she suffered terrible brain injuries and has been in a coma for 27 years. she was treated in the middle east. she was treated in the uk. most recently she was treated in germany. incredibly, last year, last summer, she started to come around. the first word she said was her son's name. who by the way is now 31 years old. she is making strides. she is in a wheelchair. she still has cognitive issues. she is aware. she can talk. knows who is in the room. remarkable story. 27 years. stuart: we are standing by for president trump. he is in indianapolis to address the nra convention. friendly crowd expected. i think he is going to give a rousing speech with a good reception to it, especially after that great news on the economy this morning. watch the action unfold right here next.
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stuart: moments from now, here's what you're going to see. the president addressing his base. he's speaking to thousands of nra people at their annual convention. bear in mind, please, it was the trump administration that banned so-called bump stocks after their use in the mass shooting in las vegas. that didn't go down well with all nra people, and the president has not pushed any pro-gun rules or regulations in his first two years in office. also remember indianapolis has been plastered with anti-nra billboards. he may see some of them. nonetheless, mr. trump will get a very warm reception. he's the first president since ronald reagan to appear before this crowd, and he's taking vice president pence with him, too. it's worth remembering that candidate kamala harris, democrat, wants executive action to start seizing guns.
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i believe they will cheer mr. trump and you will see it. the crowd has arrived. the cameras are in place and the trump nra speech will be on your screens within the hour. we are into the third hour of "varney & company" so take a look at the big board. here's where we are after 90 minutes' worth of business. bear in mind the economy grew at an annualized rate of 3.2% in the first quarter. that's not really reflected in the dow industrials which are down 20 points. but listen to what the president had to say about it. roll tape. >> definitely prices are coming down. i called up opec, i said you got to bring them down. you got to bring them down. and gasoline's coming down. we're doing great. gdp is an incredible number. but remember this. not only that, we have a great growth which is growth, we have great growth and also very, very low inflation. our economy is doing great.
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number one in the world. we're number one economy right now in the world and it's not even close. stuart: it's not even close. talking to congressman kevin brady shortly on this program. he says this proves that the 3.2% growth rate proves the critics wrong. they said it was a sugar rush economy. kevin brady is with us shortly. staying on your money, ron carson, market watcher, is with us. we asked you to recommend one big name stock that you like, and you said progressive on our screens now. the insurance company. make your case why i should buy it. >> well, first of all, you think about netflix and amazon, they're not the only companies using big data. progressive is going direct to consumer, about 25% of the policies are sold to the consumers so there's a ton of runway there. the company's near a 52-week high but still trading reasonably, especially on forward earnings, and they're
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the leader in telemetrics, and just allowing them to track how the consumer's actually doing, a device that's giving them realtime information, allowing them to make better bets on the best risks and not on subpar risks. they also, in 2015, had an acquisition that put them in the homeowners business. i think as the consumer wants to simplify their life, we think they are going to bundle their homeowners along with their auto insurance. we think it's a great play. stuart: tell me, ron, does their ads, do their ads make any difference? i see their ads everywhere, and they are usually quite humorous. they have that lady whose name i can't remember, what's that lady? i can't remember. they are all over the place. does it make any difference? ashley: flo. >> you've got to be able to have a good product behind it. stuart: but her name is flo, i have been informed. >> flo. yes. stuart: those ads are funny.
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i have to believe that works for progressive. that brings in business, doesn't it? >> obviously, it is. the company's doing well, they're growing. market cap is at about $44 billion. but the big thing in the future, anybody looking at buying a stock or any company, is are they leveraging big data. everybody talks about it, but can you really get a competitive advantage with the data? like i said, amazon's a master at this, but the best run performing companies are going to have, i believe, clean data is the new world currency, and it's going to be the difference between really performing well and not performing well. i think our society just needs to be aware, a lot of these direct-to-consumer, it's here and i think you will find more companies going direct to consumer because they've got better information. stuart: okay. do you own it? does your firm own it? do your relatives own it? disclosure. >> yes, yes, yes.
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stuart: okay. okay, i'm glad we got to that one. nothing wrong with that. he likes progressive. that's ron carson. thanks for joining us. see you again soon. as we said, it's a very busy day for the president. he's got the nra conference and a speech to it in indiana. that's this morning. then he goes back to the white house later this afternoon to host japan's prime minister shinzo abe. they are going to be talking trade. of course, we are watching the china trade talks. larry kudlow was on fox news earlier. he said quote, we're not there yet, in a trade deal with china. sources say, though, there are some sources saying look, china's leader xi jinping, could travel to america to sign a deal as early as june. china watcher steve orleans is president of the national committee on u.s.-china relations and joins us now. how far along are we towards a real trade deal and a summit? >> with china? stuart: yes. >> i think we have moved a lot. i think they are kind of down to this issue of dispute
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resolution. china makes these general commitments, will they live up to them, if they don't, how are they going to be resolved. that's an issue that they are kind of discussing. next week -- stuart: they come here, we have gone there. we have known this for some time. the market and investors have been saying we are probably going to get some kind of deal here, going to stretch this thing out, doesn't matter what kind of deal it is. is there the slightest possibility that there will be no deal, no handshake, no summit, that they will walk away from each other in anger? any chance of that? >> very low. but there is some chance that we are asking the chinese to do a lot of stuff that their bureaucracy doesn't really want to do, that their state-owned enterprises don't want to do, that a lot of the reforms the trump administration is asking china to do are ones that a lot of the reformers in china have wanted to do, but the bureaucracy, the state-owned enterprises, the vested interests, haven't protected that, have not allowed for those
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reforms. stuart: we have the big stick of tariffs. if they walk away from -- >> those tariffs hurt us. those tariffs hurt us. they hurt them. it probably was not the right way to go. it's the way we've gone and we have shaken up the system, we have potentially laid the foundations for some of these reforms. we are helping the pro-reform elements in the chinese government. but the tariffs are hurting us. when you go to the farm belt and talk to folks who are soybean exporters, corn exporters, energy exporters, and they are really hurting. stuart: okay. quick question on japan trade. i'm not sure of the status here. have we got a trade deal with them? are we working on a trade deal with them? what are we doing? >> trump and abe will meet three times in the next three months which is extraordinary for the world leaders of japan and the united states to be meeting. my guess is at the end of that, especially with japan likely calling -- abe likely calling elections for july, we will see some kind of deal where the u.s. --
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stuart: advantageous to us? >> it will depend on which part of the economy you're in. any trade deal, any trade deal, they have winners and losers. to the extent that you have a protected market and it's open, you are a loser. to the extent you are wanting to get into a market and it's open, you are a winner. our agricultural sector is certainly going to be a winner. our automotive sector may or may not be a winner. we may see a reduction in tariffs by the japanese. what president trump should be focusing on is the ratio of kind of gdp to current account surplus, not this bilateral trade. stuart: you're killing me now. >> you are an economic -- you know all this stuff. stuart: i spent last night in holiday inn express as well. steve orlins, thanks for joining us. we will follow this story. i'm intrigued about china trade and will we actually get a summit and deal. thank you, steve. we are always watching your money. here we go. big dow components, big oil companies. chevron, exxonmobil, both of
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them down. that hurts the dow. exxon really taking it on the chin. their profits are way down. refinery maintenance still burning money. chevron profits may have taken a hit but oil and gas production, up 7%. doesn't matter. both stocks on the downside. both are dow stocks. amazon, huge profits, doubling their numbers from this time last year. they have announced yesterday that they will be funneling around $800 million into their prime delivery service, going from two-day free shipping to one-day free shipping. the stock is up 13 bucks. not as much as expected but it's close to $1 trillion valuation. phoenix, arizona, raising the minimum wage for city employees to $15 an hour. $4 more than the statewide minimum wage. coming up, we talk to an arizona lawmaker. i want to know how his constituents feel about that. we are heading to washington, where we will talk to congressman kevin brady. he says this gdp number which is
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very strong is proof that the economy is doing well and it's not just on a sugar rush. we are waiting for the president to speak. he's addressing the nra in indianapolis. you bet we are all fired up for that. stay with us. the third hour of "varney" just getting started. your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. you need decision tech. the lexus es. every curve, every innovation, every feeling. a product of mastery. lease the 2019 es 350 for $389 a month for 36 months. experience amazing at your lexus dealer.
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stuart: breaking news. fox business charlie gasparino reporting that disney and sinclair broadcasting have reached a deal over the purchase of those regional sports networks. what have you got, charlie? >> stuart, i would say it's a handshake agreement, the paperwork is being filed, so it's never a done deal until the paperwork is being filed. this is what we hear from sources with direct knowledge of the deal, that disney has reached what was described to me as a handshake agreement with sinclair over the purchase of
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the fox regional sports networks, and it will pay up to $10 billion for 21 of those. but again, not finalized but the paperwork is being done. we should point out sinclair is looking for minority partners for the purchase of the rsns. those partners include apollo management and blackstone. there was a report out there that amazon could be part of this. i can tell you they have expressed some interest but what i hear is if the deal gets done, sinclair does indeed follow through with this, this could happen pretty imminently. they may come aboard. we should point out sinclair and disney had no comment. this is a pretty important deal. when fox sold its entertainment assets to disney, disney was under pressure to sell 21 or 22 regional sports networks because of regulatory concerns. the deal is finally done. we should point out that they're getting far less than what they were worth initially. they were worth something like $20 billion but as you know, because of cord cutting which i know you cover a lot of, that
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depressed the price of the assets so they're going for about $10 billion here with these 21 and the other one is the yes entertainment network which was sold under a separate agreement. that got about $3 billion. we are talking $13 billion, far under the $20 billion but this is a developing story. somewhat fluid deal. this paperwork has not been signed yet. there is no press release. but from what i understand, there's a handshake agreement. back to you. stuart: well, charlie, if it's a $10 billion deal, and disney is getting the money even though it's less money than maybe some people thought, it's not hurting the stock at all. >> no. stuart: i'm telling you, as you well know, the stock is well on its way, just close to $140 a share right now. >> i agree. the thing is this. disney is in a very strong position right now for a lot of reasons. but you know, i do know the bankers wanted that $20 billion bogey. stuart: who wouldn't. who wouldn't.
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hey, charlie, thanks very much for being with us this friday morning. appreciate it, sir. see you soon. look at that market. now we're turned around. now we're up, what, 17 points, hardly a huge turnaround but we have turned positive. let me remind you, we have news this morning that the economy grew at an annualized rate of 3.2%. that's really strong. congressman kevin brady is with us, texas republican. congressman, i know you're happy about this, because there has been a lot of talk that the economy was just on a sugar high and we'd lose it all in the first quarter of this year. you're here to tell us, ain't no sugar high. go. >> well, stu, look, these were encouraging numbers, especially on the headline numbers. i thought well, as you know, until last year, first quarter has been extraordinarily soft each year and so it wouldn't have been surprising to see a 1 or low 2. obviously 3.2 is a strong number. i thought the partial government shutdown might have a greater impact than ultimately it did.
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we did see that on personal spending but the personal income continues to plug along at a 3% rate. business investment, while it's not spectacular, is still very healthy and one thing you noticed, which i have been noticing at home as well, is how much investment's being made in innovation, technology, the r & d sector. that's really good news for the long term i think for the economy. stuart: i think it is, indeed. now, next week, president trump is going to meet with nancy pelosi and with senator schumer. infrastructure's on the table. i suspect that the democrats, senator schumer and speaker pelosi, i think they're going to push for a tax to pay for infrastructure, maybe a gas tax. would you absolutely oppose that? >> well, i think they are very tax-happy in most regards so that wouldn't surprise me. we held a congressional hearing on infrastructure recently. i think there was common ground
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about the need for a broad infrastructure. i think more disagreement on how best to finance it. one area where i think there's common ground, stuart, is that before we pour more money into the infrastructure bucket list, fix the leaky holes. too much of what we put in there gets diverted away from roads and bridges and key elements. secondly, the regulatory delays are costing us money as well. i still think that before we rush to higher taxes, let's take a look at private investment. i still think there is a lot of capital on the sidelines that can be deployed not as the sole solution on infrastructure, but can dramatically increase the amount of capital, private capital, for regional major infrastructure projects. stuart: kevin, i know everybody wants an infrastructure deal, but there's toxic politics involved here. they are at each others' throats, both sides of the aisle. can you handicap it for us? what do you really think are the odds we will get a viable
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infrastructure plan? >> you know, i think it's less than 50/50. i think one of the big worries here is that too much time, at least in the house where i know it best, way too much time is being devoted to investigations in this rush to impeachment which still is very much on, unfortunately, in the house. not enough time being devoted whether to infrastructure, to immigration solutions, to border security, to work force. i think one of the messages again, these last two weeks back home in texas, where i live, is the number one concern facing businesses is work force. they simply cannot find the workers they need. they are leaving projects off the table. they simply can't get them moving. i still, that's good news, i think, for the economy. we ought to be able to come together, both parties, to work on the work force issues. stuart: less than 50/50 chance of actually getting an infrastructure deal done. congressman kevin brady, always
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a pleasure. thanks for being with us again, sir. always appreciate it. thank you. >> thank you, stu. stuart: yes, sir. want to get back to your money. look at ford, okay, up pretty big today. well, very big. 10% gain. great earnings report, revenue up. more people in north america are clamoring for those pickups which are a high profit margin item. ford is back to $10 a share. facebook, great report for teflon zuckerberg. even with a multi-billion dollar fine from the ftc looming. revenue's good. seems like they're not losing users, actually they gained them, 1.56 billion daily active users of facebook. right in line with where they want to be. facebook is down a little bit today but it's had a great run recently. getting close to $200 a share. phoenix, arizona, raising the minimum wage to $15 an hour. we will talk to arizona lawmaker. you want to know how his constituents feel about this. of course, we are waiting
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stuart: the nra podium, left-hand side of your screen. president trump has arrived in indianapolis. he's now in his limo on his way to the podium. when he gets there, he'll speak and you'll see it. we have another city raising its minimum wage for city employees. not for everybody, just city employees. the city is phoenix, arizona. 15 bucks an hour. $4 more than the statewide minimum wage for everybody else. congressman david schweikert is with us, arizona republican. this is your backyard. how do your constituents feel about city workers getting 15 bucks an hour? >> a lot of them would now like city jobs. stuart: okay. well, look, this is the democrats' platform, $15 an hour minimum wage for everybody. how do your constituents feel about what's going on in phoenix? >> look, it's the continuation of sort of this distortion that if you can sort of work in a
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government, in this case substantially unionized environment, you actually are treated differently than the rest of the working men and women in the same community. it creates this odd distortion. now you're better off actually going and finding a government job in the city of phoenix than you are actually building your skill set and competing in the local private market. stuart: whether you raise the minimum wage for city workers, isn't that almost like a trial run before you raise it for everybody else? >> oh, of course it is. actually, if you want to be completely honest in the data, when you dig in, when you start getting those $15 an hour, you actually see a movement towards ought automating the moderate to low skilled jobs away or redesigning your organization. the very population that the folks that advocate for are
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actually being hurt. the real schtik going on behind this is the derivative type contracts. you are union employed, you are guaranteed two and a half times minimum wage or four times minimum wage. so lower the minimum wage, it's that cascade effect cost-wise. cities like phoenix actually have real pension issues. so we are sort of, we're concerned, what's the ultimate cost in this math. stuart: hard to say. i think you will have a hard time arguing against $15 an hour for those city workers come re-election in 2020. but that's your problem and you've got to solve it. congressman, look, thanks for joining us. i'm sorry i've got to break away. i've got axles whection elsewhe. we appreciate you being on the show. thank you, sir. the dow is now up 22 points. hardly a major turnaround. but we are up 26 points now. we will take that. ashley: we're on the plus side. stuart: of course, we are
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waiting for the president. he's in his limo heading towards the nra convention and will address it moments from now. stay with us, please. i'm working to keep the fire going
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stuart: update. the president's in his limo, he's driving to the nra convention. when he gets there, he will take the podium and speak and you'll hear what he's got to say. meanwhile, edward lawrence is with us. edward, i don't know for a fact what the president's going to say, but i'll almost guarantee that he leads off and takes a victory lap on the strong economic numbers this morning. what do you think? reporter: yeah, stuart, i agree with you on that front. in fact, when the president got into the motorcade off of air force one there in indianapolis, he yelled to reporters, saying great numbers on wall street. the president obviously going to talk about the estimate of gdp, 3.2%, blowing away the previous estimates there. the president also saying, as you had said earlier, that he called opec to keep gas prices low, meaning inflation could possibly be low here. now, when the president arrives here and starts speaking, some 80,000 people are expected to attend this convention, will be
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vying for a seat to listen to the president. last year it was the vice president giving the keynote address. the vice president will be in the building speaking before the president, warming up the crowd there. in fact, chris cox, the man on the screen now who is speaking there in a statement, he's the executive director of the nra's legislative affairs unit, he says quote, the president, trump's supreme court nominees, appointment, ensure the second amendment will be respected for generations to come. in some way, all the democratic candidates are pushing for some sort of gun control. the democrats who want to be president here. the nra also seeing some issues with funding. donations have been down over the last several years after the mass shootings that had happened here. the president no doubt will also address the no collusion, no obstruction, something he talked about right before he left the white house here. the president summing it up this way, saying that if he's guilty of anything, he's guilty of being a great president. stuart, this is his venue. this is sort of a rally type atmosphere. we should expect a very interesting speech there. he tends to go off-script a
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little bit when he has a crowd that is really receptive to what he has to say. back to you. stuart: am i right in saying when he's done speaking in indianapolis, it's back on board air force one and he goes back to d.c., back to the white house, and hosts the prime minister of japan? reporter: exactly right. in about five hours, actually, the president will address or have meetings, state meeting here with the prime minister of japan. they are going to talk about national security. they are going to talk about trade. it's a very big issue for them. yesterday the u.s. trade representative met with the japanese delegation to try and hammer out a temporary agreement over agriculture. we'll have to see if something came to fruition there. we will know more in about five hours when the two world leaders meet. stuart: edward lawrence, thank you very much. see you again soon. check that big board. we are still up but only just. 19, 20 point gain for the dow industrials as we speak. there's a lot of good news for the trump economy and how about this one, this element. prosperity among hispanics, i'm
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going to say it's booming. higher wages, poverty at a record low, buying houses, houses purchased by hispanics. come in, daniel garza, libra initiative president. it seems to me like the hispanic population is doing extremely well in our society. in 2016, candidate trump, president trump, he got 29% of the hispanic vote. is he going to get a lot more than that in 2020? >> given these numbers, and given the recent approval ratings by the latinos, some polls have him at 50% approval rating, the politics have vastly improved. stuart: i did not know that. so if you poll hispanics you get a very high approval rating, close to 50%. that's higher than the general population. >> it is. it ranges from 45% to 50% and it has a lot to do with these economic numbers. unemployment is at record low. latinas have broken the record for labor participation rate and
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more latinas are attending college after high school than the general population. there is starting to be a boom in the population and even -- it has doubled since the previous election. stuart: that's not what we were told. we were told when donald trump came down the golden escalator and immediately started talking about mexicans and rapists, we all thought he just lost the hispanic vote. has he got them back? >> like i said, the approval ratings are really good but when you have a 3.2% gdp growth, that is wealth creation. that is wealth permeating from the inside out, outside in, up and down, down and up. so what you're seeing is a lot of startup businesses from the latino community. latinas are starting businesses at twice the general population rate. very entrepreneurial. they are booming in this administration. stuart: aren't hispanic people natural republicans?
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natural capitalist sns? they tend to be more religious than the general native-born population, they form small businesses. >> the general immigration -- immigrant population are natural entrepreneurs. they are seeking that american dream, that opportunity to leverage their skills and talents and bring it to bear in the marketplace. if we can just remove a lot of barriers, watch them grow, watch them create wealth like other immigrants have before them in the past. i think it's important that we have kind of policies that remove these kind of barriers. 30% of latinos right now do not have a high school diploma. 33% only speak spanish. that's a huge barrier. we need to remove these barriers and position them well in the marketplace so they can take off. stuart: left-hand side of your screen, you just saw them change the podium because they are changing it for the president. that means he's going to be speaking shortly. as we keep telling you, you will be seeing the president speak
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momentarily when he gets in front of that podium. he's on his way, by the way. back to you, daniel. illegal immigration. what do hispanics want to do about it? >> well, we're like other americans. we are very compassionate, very generous when it comes to immigrant population. obviously we want to accommodate for market forces, for humanitarian issues, but at the same time, there needs to be order. there needs to be order at the border. latinos just like the rest of america is demanding that of our politicians. for that, we need reform. we have an outdated immigration system. so we need to get to the business of that. i think jared kushner has taken on this portfolio which i believe he's going to be passing on to the president his findings real soon here. stuart: hispanics want a wall. a physical barrier wall. >> they want border security. whatever that means, where we decide who comes into our country and under what conditions and how many. how much is good immigration. so i would say we want border
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security that is effective but also is flexible. stuart: okay. daniel garza, thank you very much for joining us. >> always a pleasure. stuart: good information, young man. good stuff. thank you very much. of course, i'm going to tell you one more time. yes, we are waiting for the president. ashley: still waiting. stuart: he will appear -- they just put up the prompters. you see the screens. those are teleprompters. i don't know whether the president will stick to any script. odds are he won't. right now, the dow is up 15. we are waiting for the president. we will take you to indianapolis momentarily.
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stuart: vice president pence speaking to the nra convention. when he's done, the president will speak. right-hand side of your screen, big tech, oh, look at that. apple, firmly now established
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above $204 a share. it's only down a fraction this morning. amazon following that spectacular earnings report yesterday. their profit virtually doubled. they slowed their sales a bit. that's what's dragging the market a little bit. they are still up $14 at $1,917 per share. pretty close, not quite there yet, but pretty close to a trillion dollar valuation. facebook is backing off a little. down about a buck but look, they are at $192. they are having a really good run so far in 2019. google, well, they're up six bucks, $1273 is the price. microsoft hovering around $130 a share. if microsoft hits $130.50, microsoft is worth $1 trillion. ashley: so close. stuart: they are not that far off, ladies and gentlemen. okay. can you show me intel? this is the reason why the dow is meandering around the break-even part.
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intel is a dow stock, right? deirdre: yep, it cut its full year earnings guidance. it's really dragging. stuart: that's it. if you took intel out, the dow would actually be up about 60 points. ashley: don't forget the president said he called opec about rising oil prices. energy prices already dropping, oil down more than $2 a barrel. $63 now. it was up to $66. deirdre: exxonmobil, speaking of the dow, actually also dragging on the dow. you have basically intel, exxonmobil, walmart are really the three weights around the dow's neck right now. stuart: i'm intrigued at that oil price. ashley: yeah. stuart: i will get to all of this. exxonmobil down. that oil price, more than $2 down, maybe i'll have to back away from my forecast of $3 gas. ashley: we'll see. stuart: it looked like $3 gas when it was $66 a barrel. but at $63 --
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deirdre: don't look at california, in any case. stuart: maybe we will escape $3 gas. who knows. vice president pence speaking now. wait for the president. he'll be up momentarily. i have daniel garza with me. what's the full name? >> libra initiative. stuart: libra initiative. i had a question i wanted to ask you before, didn't get the chance. do you believe in bilingual education? >> i value bilingual speaking person, because it enriches the culture and society. stuart: should we be teaching our young kids spanish? >> i believe in english immersion as quick as possible. i take that from personal experience. i didn't speak a lick of english. i was born in california but under spanish-speaking parents. they taught me english right away. in fact, there is a study by the national association of latino elected officials that when an immigrant learns english they will quadruple their lifetime salaries on average. that's transformative. that's what we need to get to
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the business of teaching people english right away. stuart: the democrats are wholeheartedly in favor of bilingual education. >> it's an unwise policy to continue to teach the young child in spanish and almost like remediate that child with the rest of the peers. i think it does a disservice. i think we need to get to the business of teaching english right away. like i said, 33% of latinos only speak spanish. that's a barrier to jobs and opportunity. stuart: one third of hispanics -- >> only speak spanish. stuart: only speak spanish. one third. >> it's a massive number. it's a barrier. again, i value a bilingual speaking person because of course, you enrich society and its culture, but the language of success is english. we need to get to the business of teaching english right away. stuart: it's divisive. canada has been to some degree divided by language.
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french speak eers in the east, around montreal, english speakers in the rest of canada. i would hate to see the point where parts of america don't speak english. >> i speak spanish at home. i speak spanish at church. i always have. but in the rest of society, i'm speaking english. it's the language of success. but it's nice that you can be that bicultural, binational -- stuart: in california, hispanics are now the dominant ethnic group. there are more hispanics than caucasian white native born americans. they are the largest -- they are not a minority. they are the majority in california. >> latinos in some states, 50% of us do not have a driver's license. so when you add that, a lot of us don't speak english or have a driver's license. when you add legal issues, those are major barriers. we can remove those barriers, then a person's position is better in the marketplace and they can move on and up the economic ladder as fast as possible which was what my
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parents did. after working in the fields for the longest time, got the driver's license, learned english and bought a small business, and they were on their way up. and provided opportunities for their children like myself. stuart: you went to college? >> i went to college, then wound up at the white house working for the president of the united states. stuart: you are in the white house? >> from the fields to the white house. stuart: what did you do? >> i was at the office of public liason. it was a privilege. stuart: wait a second. i was privileged to visit the white house and had dinner with the president. this was last year. i thought it was one of the great moments of my life. >> it's a privilege. stuart: i'm an immigrant, obviously, and here i am sitting at the white house with the president of the united states of america. >> that's a testament to our country and our system. stuart: absolutely it is. >> it doesn't matter where you come from or where you're at, senator ted cruz said this is the country where anybody can nothing can achieve anything. but we have to preserve our free market system. a free society, free people.
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otherwise -- stuart: we have some extra time. what apapalls me is people are saying this president is anti-um grant. in my experience that is absolutely not true. >> he proposed a solution for two million dreamers on one occasion, then for 800,000 on another occasion and has said he wants to expand visa opportunities for other folks. it all depends from your perspective where the president sits on what issue. stuart: i think there's room for a deal here. >> i hope so. stuart: satisfy the dreamers, reform the asylum rules, stop the flow of illegals and start bringing in the people that we want. would hispanics have any problem with that? >> none at all. in fact, i think it's important that jared kushner is going to use the same strategy that he used with criminal justice reform which is to try to bring a bipartisan spirit to the debate and get consensus because that is what is required.
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democrats do not get to define what immigration reform is and neither do republicans. they both have to come together and agree. and they have to meet at that shared space. instead of distancing themselves, you know, and moving towards the base, every time you get close. yeah, americans expect that and they want that. stuart: i have one more question. this is not exactly out of the left side of the field. on our screen is vice president pence, speaking to the nra. the president is going to speak to the nra in a moment. is there such a thing as an hispanic view of gun control? this that's a strange question, i realize. >> there are more latinos who self-identify as conservative than as liberal or moderate. according to the nbc-marist poll. a lot of that has to do with the fact we will not seek acede any to any politician, ever. we will resist giving away those rights and centralizing more power and money in washington, d.c. they have enough. stuart: do you call yourself an
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american first or are you a mexican -- your parents were -- >> i'm american born, american bred. my parents were born in mexico. but i'm proud to be an american. i'm also proud to be of mexican descent. stuart: yes. me, too. i don't call myself an anglo-american. i call myself an american. you too? >> i'm an american, of course. absolutely. i probably identify as a latino because that has been my heritage. stuart: people walk up to me, say where are you from? i say my country of birth is england. i slap the table. i am american. >> i was born in california but i would more probably say i was raised in washington state and now living in texas. stuart: why would you say that? >> california needs a lot of help. stuart: welcome to the show. young man, you are so right. when you answer questions, do you think of yourself as an american first or -- >> i do. citizen now, citizen since the
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late '90s. when i first came here, i didn't, because it took me awhile to assimilate just like everyone else. now most definitely. the trouble is if you have an accent people immediately put you in a certain category. i always say no, no, no, no, i'm an american citizen. i have lived in montana, northern california, southern california, arizona, wisconsin, texas. i feel like i know this country as well as anyone. >> one thing i'm most proud of is the latino contributions to defending this nation, and how we have sent our sons and daughters to die on foreign battlefields and to defend the freedoms of this country and defend our heritage and our nation. stuart: there is a proud tradition of that, hispanics in the military, for years and years and years before the mass immigration began. >> that's correct. we will continue to do so. stuart: deirdre, i have no idea what your ethnic background is. deirdre: a mixed bag of tricks.
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true american. stuart: that's what you call yourself, right? deirdre: yes, american. stuart: i don't know what your background is. you wouldn't say. no hyphens. deirdre: no. here we are. i'm a new yorker. ashley: that's a subcategory right there. stuart: any other questions for daniel garza who has run the mill of all kinds of questions. ashley: have you ever thought about running for president? deirdre: i just messaged, these guys -- >> you are too kind. i ran for city council when i was young. i was elected in washington. deirdre: that could be the beginning. stuart: where? >> a town in washington that sits on the reservation within the bounds of yakima valley. i enjoyed it very much. public service. stuart: get anything done? >> we got some stuff done. there was some resistance to our program. of course, serving for the president of the united states was the ultimate privilege.
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stuart: were the city council meetings held in english and spanish? >> in english, obviously. stuart: all english. >> the town was like 85% latino, by the way. stuart: really. >> yeah. stuart: what brought so many latinos to that particular part of washington? >> apples, pears, peaches, cherry. a vibrant agricultural community which continues to be vibrant now with grapes, wines. stuart: i'm going to break into vice president pence and have a listen. he's talking socialism. i think we should listen to that. [ applause ] >> the men and women of the nra, the stakes have never been high higher. the choice has never been
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clearer. it won't be enough just to win the next election. we've got to win the next generation. and this is our challenge. it won't be easy. but it never has been. thomas payne explained during the american founding the battle for freedom is always arduous. as he said quote, the harder the conflict, the more glorious the triumph. and then thomas payne added what we obtain too cheap, we esteem too lightly and that heaven knows -- stuart: we believe that president trump has arrived at the arena where his speech to the nra will be held. we believe that he's in the background. perhaps figuring out exactly what he's going to say. so vice president pence is --
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ashley: laying the groundwork. stuart: yes. he's extending his presentation which was supposed to be about five minutes. now he's extended it. he's gone on for about 20 minutes as we speak. president trump is in the background. i guarantee that he's getting his ducks in order to speak about the economy, because we had a terrific report this morning, 3.2% growth. deirdre: much different than the estimate of 2%. not only is 3.2 strong, but it's so much stronger than what was expected. but it seems as if earnings disappointments are putting a little more pressure on the markets, at least keeping them from rising. that's the push and pull, right? the exuberance of the gdp, the damper is some of the earnings news, intel, the chip giant cutting its forecast. ashley: he might well open with that because that's a good place to begin before getting into gun rights. this is the third straight year he's spoken to the nra annual convention. last year, looking at some of his comments, said your second amendment rights, this is last year, are under siege but they will never, ever be under siege
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as long as i am your president. that's going to be a similar message we will have today. stuart: i'm sure he will talk about the economy because that's his strong suit. ashley: it's a winning strategy. stuart: let's be honest. i have not heard so far this morning, i agree, i have not been looking that strongly but i have not seen a response by any democrat candidate to that 3.2% -- deirdre: you talked about the criticism of the 2017 tax plan being -- accused of being a sugar high. here we are, more than a year later, and going very strong. stuart: it's not a sugar high. ashley: no. stuart: why do we need -- why have the democrats gone so gung-ho into socialism precisely at the time when capitalism is delivering on all fronts? ashley: that is the risky, risky policy. investigate, investigate, investigate or if you are on the far left of the party, the young far left, socialism, socialism, socialism. stuart: because the message of free college, free health care,
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free everything, is a powerful message. bottom line is, we know we can't afford it and b, the economy is doing tremendously well. deirdre: i would say pre-primary it does seem that which ever the party does, it tends to go to its outer limits pre-primary. we saw that last round as well. we had a lot . people argued, even though they may agree with him philosophically, that is not electable candidate. there is same thing on the left, they're really going marred left. most working people don't ascribe what senator sanders is talking about. stuart: you hear people like myself and ash refer to an ifb. that is a thing we wear in our ears. it is a way for producers and directors to talk to you while you're on the air. i have got a dollar that says vice president pence is wearing an ifb right now.
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ashley: keep boeing is what they're saying. >> talk about your haircut. stuart: ifb stand for interrupt and feedback. i bet they're -- what did you say. ifb stand for interrupt and feedback. not interruptible. >> that was a friday joke. stuart: i'm on my ifb conducting an internal argument. what about the f and the b? interruptible is about the i. what about the f and b, chrissie? feedback. maybe i have been stuck. mo mean? means on -- >> man on the street. stuart: do you know where it comes from? it comes from mit out sound. what some of the immigrant staff
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of business to say. >> that is some of the best tap dancing i've ever seen in my life. stuart: we have five seconds left. i think neil is waiting to take it over. sir, it's yours. neil: there you go. i always curious about the you're hearing in your head. thank you, stuart. i hear in my ifb that we'll hear from the president soon, that the vice president has to sort of tap dance here, ahead of hearing from his boss the commander-in-chief. he is speaking to the nra. first president to do so since ronald reagan in that capacity as sitting president. many former presidents addressed group and those wannabe presidents. this is signature moment. it follows on the heels of much better than expected gdp number we got for the first quarter. showed

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