Skip to main content

tv   Varney Company  FOX Business  July 25, 2019 9:00am-12:00pm EDT

9:00 am
think business leaders need to understand where they sit. they have to understand the reckoning between national security and business that's coming. maria: this is the issue of the day for sure. dagen? >> faye dunaway, bye. maria: thanks so much, everybody. "varney & company" begins now. stu, take it away. stuart: good morning, maria. good morning, everyone. robert mueller has come and gone from the national stage. the hearings were a bust, a disaster for the democrats but president trump is gaining ground. look at this, please. the latest fox poll shows his approval rating on the economy moving up to 52%. as the democrats dream of impeachment fades, the president campaigns on prosperity, looks like it's working. next case. ouch. tesla takes a giant hit. they're not producing enough cars, they're not selling enough cars. the stock down a whopping 11%. question, can a stand-alone car
9:01 am
company survive? we'll ask the question. facebook is the teflon stock. bad publicity, a $5 billion fine, an antitrust probe, not to worry. as long as it makes a ton of money and it still does, the stock stays strong. teflon indeed. $207 this morning on facebook. meanwhile, why don't you check your 401(k)? odds are you're looking at about a 30% gain since the election of donald j. trump. the s&p, nasdaq, they are at all-time record highs and the dow will go up another, what, 60 odd points at the opening bell today. sit back, everybody. watch your money grow. it's fun. "varney & company" is about to begin. stuart: we like to get right at it these days so take another look at that. president trump's approval rating on the economy remains near, very very close to an all-time high, 52%.
9:02 am
look who's here. fox news contributor gary kaltbaum. all right, gary, that is a big number. how do you beat that in the election of 2020 when you're a socialist? >> if we get to november 3rd and the market's strong and we're at 3.7% unemployment it's going to be tough. i must tell you, i talk about this every day, yesterday the left came out with another tax proposal, a $2.8 trillion climate change proposal that does nothing to help the climate. i don't think there is a tax they have not proposed in the last few months and i don't think that's going to sell, and they better get it right or else. stuart: okay, we'll have more from you at the end of the block. stay with me, please. now let's get to tesla. a whopping loss for the stock, down about 11%. they reported a loss after the
9:03 am
closing bell yesterday. this morning premarket, as we showed you a moment ago, we are down 11%. that is a gigantic drop for tesla. car guy gary is with us now. how do they turn it around? >> they actually delivered more cars than they made so the loss could have been the other way around had they produced more vehicles. in the future they have this china factory coming out pretty soon. there's no guarantee they will be making money in the china factory. they have a european factory coming in another couple years. they are losing a lot of money over there. manufacturing is tough there. this is really the issue. a bigger one is the fact it's high margin models, the s and x are becoming much smaller percentage of the mix here. last night, elon musk on the call even said the tesla truck, pickup truck, would make up a pretty small percentage of its sales in the future and the
9:04 am
model 3 and y are going to be its big sellers, the big volume and most important cars. these are the ones you can't make money on. you make money on trucks, on luxury cars. they are moving away from that. stuart: so short term, they are not going to be able to turn this around. by short-term, what, next six months? >> no, i don't see a big change. ace in the hole for tesla is this autonomous driving. if it pulls off a miracle and makes it possible within a year, two or three years, now it's decades ahead of every other automaker because every one of its cars can drive itself. again, miracles if they pull that off and are able to deploy that. nobody outside of the tesla community thinks that will be possible. stuart: we have another car company in trouble. i want your comment on this. nissan. the "wall street journal" says nissan will cut, what, 12,000 jobs. this is because of the firing and arrest of ghosn, i take it. same question, can they turn it around? >> sales in the u.s. is really the problem here. they have been after years of
9:05 am
growth, the last two years have been pretty bad. their truck business a shambles in the u.s. a lot of their top models like the nissan rogue are due to be replaced. sales are starting to drop off there. their big new model, the nissan altima sedan, unfortunately, is a sedan. it's brand new, came out this year and sales are down on it even though it's a brand new model because nobody wants to buy sedans right now. stuart: i wouldn't put my money into a stand-alone car company because there are so many car companies around the world who can create so many cars which people are not buying. >> and you look at nissan which isn't a stand-alone. it has alliances. you look at a company like tesla and see how much more difficult it is when you start from scratch. stuart: you know what you are talking about. we appreciate that. thank you very much. see you again soon. thank you. facebook, got to get to that, they are still making very big money despite all the scandals, privacy investigations, et cetera, et cetera. jim anderson is with us. his firm helps companies with their social media presence. let me put it to you, facebook is an addiction and it doesn't
9:06 am
look subscribers, not subscribers, users. >> i will say facebook is habit-forming. for some people it's addictive. habit-forming, absolutely. lots of things are habit-forming which are not necessarily negative. exercise, for instance. but those of us who are parents, who have kids with technology especially these devices, we are absolutely concerned about addiction and unhealthy behavior. i think -- stuart: i didn't mean to misuse the word addiction. habit-forming is probably a much better idea. but you're hooked. you're in this thing and you're hooked. >> yes. stuart: part of the reason is convenience. >> yeah. stuart: i don't, but if i did, get on to facebook, i could get straight into all these apps without all the passwords. that's convenient. >> remember, facebook gives you a totally -- or would give you a totally different experience than it gives me. it's unique to you. it's tailored to you. they look at what you do and what you're interested in and they give you more of it. it's almost impossible for it not to be habit-forming and addictive in a situation like that. stuart: people come to you and say get me on social networks. facebook, for example.
9:07 am
are you telling them something different now compared to what you told them a year ago bearing in mind the privacy concerns and investigations? >> it is very different although it's not because of privacy. it's the competition for attention. facebook is about 85% mobile consumption. it's all about the phone. it's the hardest real estate to get your content on. there's only so much attention. you've got 24 hours in a day, i've got 24 hours in a day. everybody wants me to swipe, tap, scroll through their content. well, there's just an almost endless supply of content and you've got to compete with your content for my attention on that window of time on that small screen. it's hard. stuart: what do you tell them? what do you tell them? >> you will appreciate this. have good content is a great starting point. quality content matters now more than ever. it really matters. secondly, timing matters a lot. when are you going to get your content in, 4:00 a.m. east coast time for an east coast audience is very different than 9:00 a.m. east coast time. what's going on, is the mueller report going on, today's earnings season, what's going to happen tomorrow.
9:08 am
the world is a chaotic place and there's news all the time. you got to -- stuart: so when i get up at 2:45, and i do, and i look at my little phone, that's why i get all these messages? >> you are an anomaly. stuart: i am indeed. >> in so many ways. stuart: thank you. teflon stock. say what you like. jim, thank you very much. look at futures please. we are going up at the opening bell but not as much as we were going to go up, about a few minutes ago. we will be up about 20 on the dow. down about three on the s&p. something's going on with the nasdaq and technology because they are going to be down a half percentage point. i've got to tell you, s&p 500 earnings are up 3.8% compared to last year. come back in, gary kaltbaum. you say that's nothing special. i'll take you on on that. i think it's pretty good. >> it's better than expected. that's the good news. but i keep in mind there's been a lot of buy-backs which helps these earnings. i don't think they are as good as they are and i do believe we
9:09 am
are in deceleration mode and it's something to watch very very closely. just remember, the market's up 15%, 20% this year, 3% is not going to, you know, help that along. it's going to have to go 6, 7, 8% as we go along. stuart: of all the stocks i have, i shouldn't sell any at this point, or should i? >> i think the market's in good shape here. i think the only bear markets i'm seeing right now is like in energy and commodities and things like that. as i always say, the semiconductor stocks lead the markets and they have just been crazy to the upside for whatever reason, as long as that continues, i think we're in good stead. keep in mind we are in earnings season now. there will be big blowups, we have a few today, but there's also going to be some real good scores. yesterday, texas instruments, a few others really had some good moves on strong numbers. if that continues, all good. stuart: okay. got it. gary kaltbaum, thank you. see you again real soon. there was a downbeat forecast from ford. when you do that, you've got
9:10 am
trouble for your stock. look at it, down 5.7% on ford. it's dropped below $10 a share. the dow component 3m posted lower global sales but here we go with the expectations again, it wasn't as bad as wall street thought. so the stock is up 4%. american airlines profit taking a bit of a hit from the 737 max jet grounding. it's up just nine cents. that's it. overall, keep you in touch with the market. we will go up, not much, 30 points for the dow industrials. now, remember this video? conservative journalist andy ngo assaulted by a group of antifa thugs? he's working with lawmakers to get antifa designated as a terrorist group. he's on the show to tell his story. ponzi schemer bernie madoff wants to get out of jail free. he's lobbying for president trump to commute his 150-year sentence. here's another headline for you. president trump agrees with michael moore, yes, that michael
9:11 am
moore. it's all about yesterday's mueller hearings. we will tell you what they are both saying about it after this. don't miss your golden opportunity
9:12 am
to experience the luxury you desire on a full line of utility vehicles. at the lexus golden opportunity sales event. lease the 2019 rx 350 for $389 a month, for 36 months, and we'll make your first month's payment. experience amazing.
9:13 am
9:14 am
stuart: we are going up at the opening bell but not as much as we thought we were going to go up a few minutes ago. maybe 29 for the dow but down 30, 40 points for the nasdaq. southwest airlines stops operations at newark airport because of the boeing 737 max jet grounding. southwest stock is down. jeffrey epstein found injured in his jail cell in new york city. susan? susan: convicted ped oophilpedo alleged sex trafficker found nearly unconscious in his jail cell and was transferred to a nearby hospital. there is speculation what actually happened, did he try to commit suicide, did he fake it so he can get out of jail, was he attacked by inmates. we don't have exact details just yet or an explanation but as you know, he was denied bail as he
quote
9:15 am
awaits trial on trafficking charges. stuart: there was some comment this morning, why are we wasting time on a man like this. susan: i agree. stuart: i think the answer to that is we want to know what he knows. susan: right. stuart: what happened at the island where he entertained lots of young women and some celebrities. what happened. susan: powerful people. stuart: what did they do. i would like to know that. liberal michael moore tweeting on the mueller hearing. here it is. a frail old man unable to remember things, stumbling, refusing to answer basic questions. i said it in '17 and mueller confirmed it today. all you pundits and moderates and lame dems who told the public to put their faith in the esteemed robert mueller just shut up from now on. president trump tweeted this. even michael moore agrees that the dems and mueller blew it. joining us now, brent bozell with the media research center. you know you're on to something when michael moore and president trump agree, right? >> but stuart, at the end of the
9:16 am
day, first, we have to ask ourselves what in the world was mueller going to do other than confirm his own study that said that donald trump was innocent. he was never going to say anything more than that. his performance across the board was disastrous. i think it's very interesting to see the press, it's a throwback to election night 2016 when they all thought that hillary was going to win and suddenly trump wins and they were so crestfallen. it happened again yesterday. i thought the news media were going to break down in tears. they know, i hope they know this damn thing is over for once and for all. stuart: i've got a headline for you from msnbc. mueller testifies under oath that his report does not exonerate trump. here's msnbc's political analyst, nicolle wallace. roll that tape, please. >> i think there were some significant breakthroughs.
9:17 am
if the public hears one thing and they hear that he committed crimes that would land anybody else in a jail cell, and he actually has three or four buddies sitting in jail with the situation, i mean, donald trump in jail is not some incomprehensible concept. stuart: they just can't get over their contempt. that kind of coverage is just appalling. >> no, they can't. let's recall that since the very beginning, since donald trump said from the very beginning there's not a scintilla of evidence because it didn't happen, guess what, there's never been one -- we have to remember this, stuart, it's so important -- there's never been one scintilla of evidence yet in a study we did, virtually one-fifth of the network coverage of donald trump since he became president has focused on this quote unquote, scandal, a scandal that never existed. one-fifth of his presidency. now let's see. let's see how much attention they are going to give, which so far they have given virtually no attention whatsoever, now that
9:18 am
it is unquestionable that he's innocent, what will they do about the false accusations? i just saw pigs fly because they are not going to. stuart: you are right on the ball, as usual. thank you, sir. appreciate you being with us always. >> thank you, stuart. stuart: back to the market. we open in 12 minutes. we are going to be up 30 for the dow but down 37 for the nasdaq. it is official. boris johnson is the new prime minister of great britain. i think this could be the start, this is my opinion, maybe the start of a new special relationship between us and the brits. i hope so. nigel farage is with me in new york. he's going to be sitting next to me two minutes from now. after the break. fact is, every insurance company hopes you drive safely.
9:19 am
but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands? can't see what it is yet.re? what is that? that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this but give them a cookie and a star.
9:20 am
9:21 am
9:22 am
stuart: a few minutes ago, the dow was going to be up 100 points. now it's going to be up maybe 20. what happened? mario draghi says the economic outlook in europe is getting worse and worse. not good. boris johnson is the new prime minister of britain, replacing theresa may. she couldn't deliver brexit. boris is known as britain's trump. could this be a revival of the special relationship? remember ronald reagan teamed up with margaret thatcher?
9:23 am
that was a pretty good special relationship. look who's here. fox news contributor, nigel farage. good morning. you're all right, nigel. welcome to the show. >> thank you very much. stuart: i would love to see a new special relationship. is it on the cards? >> what has happened here is the deeper we became enmeshed in europe, we were unable to have a special relationship. we couldn't talk about trade deals or any of those things. add to that that theresa may was always frankly a remainor, not a lev leaver. look who we have had, kim darroch, who made those comments about trump. right now the relationship is in a bad place. boris of course was born in the city of new york. instinctively he will be more pro-american than theresa may but the key to all this is he has to deliver brexit. if we get brexit, the special relationship is back on. that's what i'm looking forward to. stuart: would the brits support boris in an attempt to form a new special relationship with america? >> oh, look, culturally and in
9:24 am
so many other ways, the british people are close to the americans. we want a proper relationship on trade, defense, security, all of those things. i think we've got a real chance here that we can look back in five years' time and say wow, we turned this thing around. but the key to everything is brexit being delivered. stuart: i was back in britain a couple months ago, just a quick family visit. i was surprised at the number of english people, they know what i do in america, they know i'm a trump guy and they walked up and said very quietly you know, we could use a bloke like that over here. >> absolutely. we had three years of drift. boris johnson is now saying all of the right things. he has to do that politically. the question is, will he deliver. he's got 98 days to the next eu deadline. stuart: you are mr. brexit. you are heavily involved in this. >> he's now singing my song, using all my lines which is great. he's just got to deliver. stuart: okay. stay there, please. i want you to stay with us for the rest of the hour if you would do that. thank you very much. stay there. look at futures again,
9:25 am
please. still on the downside after what mario draghi said about europe's economy. down 20 for the dow. we will be back with the opening bell on wall street. this is the couple who wanted to get away who used expedia to book the vacation rental which led to the discovery that sometimes a little down time can lift you right up. expedia. everything you need to go. while managing your type 2 diabetes- why think about your heart? lower a1c helps, but type 2 diabetes still increases my risk of a fatal cardiovascular event. and that's why there's jardiance-
9:26 am
the first type 2 diabetes pill that offers a lifesaving cardiovascular benefit for adults who also have known heart disease. it can significantly reduce my risk of dying from a cardiovascular event. and it lowers my a1c, with diet and exercise. jardiance can cause serious side effects including dehydration, 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, now what do you think? while my a1c is important, there's so much more to think about. ask your doctor about jardiance today.
9:27 am
9:28 am
stuart: bernie madoff, ponzi guy, wants president trump to commute his prison sentence.
9:29 am
what's his chances? susan: not very good, given that president trump has expressed contempt for bernie madoff in the past, including a "new york times" magazine interview back in 2009. bernie madoff filed a petition for clemency. he's ten years into a 150 year sentence for masterminding the largest ponzi scheme in u.s. history at $65 billion. so people are thinking, especially those that have been duped out of their money, should a guy like this be back on the streets? chances are low but still, the audaciousness of him asking for this is out of this world. stuart: is he asking on the grounds of age? i presume the man is -- susan: he's 81 years old. stuart: he's 81? susan: yes. 150 years, pretty much a life sentence. stuart: when you get to that age, there are grounds for clemency. susan: for the man that perpetrated the largest ponzi scheme in history? how about the families that committed suicide after losing billions of dollars putting money into this man who
9:30 am
defrauded them? that's how i feel. stuart: i just wanted to draw you out a little bit. susan: there you go. stuart: in ten seconds, the market opens. it is thursday morning. we are likely to be flat to lower, especially for the s&p and nasdaq. boom, 9:30 eastern time. we are off and running. let's see where we start. we are up 28 points. okay. now we're down nine. this is going to be a difficult opening. we will tell you why in a moment. but the dow has opened lower. the s&p 500, what's that doing, please? show me fast. come on. let's have a look at this thing. all right. it's down four points. that's .14%. how about the nasdaq? show me, please. where are we? we are down one-third of 1%. down across the board. tell me about tesla, please. look at that. it's opened at $233, down $32. that's a 12% loss. ford motor company down 5.5%. nissan, i believe,is also on the downside.
9:31 am
no, it's not. it's up 12 cents. not exactly a huge gain. car companies in trouble this morning. shah gilani is with us, michelle mckinnon, nigel farage graciously stayed, he will stay for the rest of the hour, and susan li is with us, too. let's get straight to tesla. can tesla survive? it is a stand-alone car company. not looking good. does it survive? >> i think it will survive if it stops producing as many cheap cars. i think tesla was a really exciting brand when it was considered more of a premium brand. now obviously they are trying to go after the cheaper market and they don't have scale. stuart: shah, does tesla survive? >> i would give it a 50/50 chance of survival. the company is going to continue to have troubles in terms of raising cash, debt load continues to rise and production of the cars, they are constantly missing schedules and the competition is chomping at their heels. i think there's a lot of better
9:32 am
looking electric vehicles coming up behind tesla. i think they will road test the position of being the number one ev car in the market. susan: they lost their chief technology officer. he's one of the pioneers and really, tesla is about their technology. it's kind of treated like a tech company. it's based on technology. this is a big loss for them. don't forget, they delivered record number of cars in the quarter, 90,000 or so. but it's all about cash position. they have $5 billion of cash on hand. stuart: down $32, a 12.5% drop on tesla. let's get to why the overall market is down. we are talking interest rates here. 2.02% is the yield on the ten-year treasury. europe's mario draghi just said the economic outlook in europe is getting worse and worse and worse. let's bring in nigel farage on this. when i hear that, i hear basically that the europeans are going to print a ton more money. >> which they have done already.
9:33 am
stuart: they are going to do it again. >> 4.6 trillion euros worth of government debt have been bought by the european central bank under draghi's tenure. christine lagarde is coming in. this was all supposed to bring economic stimulus. the truth of it is, we begin to enter a period rather like japan went through in the 1990s. i can see the early signs of mild deflation beginning to hit the eurozone economy. that's one of the reasons why some of the big long-term investors have been getting into gold over the course of the last month or so. i am very bearish for europe, for the european economy and for european stocks. they've got a problem, they haven't got a clue how to get out of it. >> what do you think the ecb might start buying stocks? >> i really don't think that's going to happen. i really do not think that's going to happen. i would consider that extremely unlikely. they will stay pretty much with the policies that they've had. tell you one thing, if christine lagarde has an easy life at the
9:34 am
imf she's in for a very, very tough job. stuart: look at the dow, down nearly combroin80 points lower. what draghi said about europe's economy has got something to do with this loss. shah, come in, please. i think that if they print more money in europe, it just pushes europe here and that's why our ten-year treasury is yielding 2.07% at the moment. >> i agree with you. i think this is just a little blip in terms of the markets here. if you take exactly what you said and work it all the way through, the dollar is going to continue to strengthen i think and that will bring more assets over here. the yields are particularly higher here, government yields are safer, better i think in terms of creditworthiness. i think the u.s. is a much better credit risk than any bank or any sovereign in europe. that money is going to come over here. we are once again, i don't think we are a dirty launderer but we are the cleanest dirty shirt in the laundry if europe is going
9:35 am
to falter and i don't see it faltering yet. united states is not faltering. our economy is growing beautifully and the stock market is rising. there will be more and more money coming here. that will push stock prices higher. stuart: sitting next to me is nigel farage. he liked that line the dirty shirt in the laundry. he's going to steal it. i know it. budweiser, look at the parent company, the stock ab inbev. americans, we are drinking less bud. the stock is up 5.5% but we here in america are drinking less bud. i will go to nigel farage. hey, shah, we're not drinking so much bud but we're drinking a ton of microbrews. that's the story, isn't it? >> i think it is the story. let's not cry for anheuser busch. they are doing tremendously well, gross revenue up 6%, net
9:36 am
profit up 27%. yes, there's less bud buying in the north american region but globally bud is doing extremely well. bud light is doing well. they are making some changes in terms of flavor options for consumers. the company is still growing. but the only problem is they are facing all the microbreweries in north america are eating away some of their share here. stuart: so would you ever touch a budweiser? >> i'm one of the best beer drinkers in britain. i have been photographed on the front page of every national newspaper and the trend you are seeing with microbreweries we saw in the uk30, 40 years ago. consumers are more discerning and here in new york, if you want to go for a beer after work, you now have a lot more choice than going out and drinking budweiser. this is about consumer demand. they are prepared to pay a little bit more money for the beer they are drinking and they are probably drinking less of it. stuart: you didn't answer the question. would you drink a bud? >> if necessary, yes.
9:37 am
[ speaking simultaneously ] stuart: i think we know where we're coming from. the market's come back a little bit. we were down 80 points, now we're down 57 odd points. still a big drop on the nasdaq. according to a new fox news poll, president trump's approval rating on the economy remains near an all-time high. look at that, 52%. first to you, shah. prosperity is getting through. >> yes, economic message, stuart. the economy is doing well, the markets are doing beautifully. i think the american public recognizes that the president's policies have moved the economy forward and everyone i think is better off. i think that's translating into the approval rating of the president. i think it's going to continue. stuart: we are better off, aren't we? >> regardless, right, we have historically low unemployment rates and people are making more money. when people make more money, obviously that's a good thing. stuart: that's a succinct wrapup. about 12, 13 seconds. susan? susan: i was just saying basically we have, what, a
9:38 am
record approval for president trump and his stewardship of the economy, one point below the record just about a year ago. this is because of the best jobs market in 50 years, longest bull market run that we have seen in history and also the longest economic expansion on record as well. you can't argue with those numbers. stuart: you can't. looking good for the election. the big board shows a loss of 50 points on the dow industrials. couple of individual stocks, let's get to them. first of all, 3m is a dow component, lower global sales, not as bad as wall street was expecting. here we go again, the expectations game. the stock is actually up nearly 3%. comcast, their revenue fell short and down it goes, not much, 20 cents lower. that's it. american airlines, its profit is going to take a hit from the 737 max jet grounding. the stock is down a buck. southwest, the airline, stops operations at newark airport because of the max jet grounding. they are going to transfer most of their operations to laguardia. the stock is down $1.62. let's walk this up.
9:39 am
this afternoon, earnings from two gigantic tech companies, alphabet, that's google, they are up a buck premarket, amazon is down $2, right below $2,000 a share. the official numbers out this afternoon. let's get to facebook. why not. still making serious money despite the privacy scandal. shah gilani, it is the teflon stock of the day, isn't it? >> i don't know what's better than teflon but if there was something, that would be what facebook would be. absolutely. take away the $2 billion charge that they granted themselves for part of the $5 billion settlement with the ftc and additional charges for stock option valuations, they would have otherwise doubled their net. so it was already a great quarter but it would have been double what it is. the company is doing exceedingly well. the advertising sales are through the roof. i don't see any regulatory hurdles that this company can't leap over and move forward with. stuart: so last question to you, shah, are you buying it today at
9:40 am
$203? >> i just want it to come down. it's too high for me. i keep waiting, i like it to come down. i keep thinking some of the regulatory impacts will bring it down a little, make it an opportunity for a lot of folks who haven't gotten in or got out too soon. right now, it's not working that way for me. stuart: all right. there you have it, sports fans. we are at 9:40 eastern time. we will say good-bye to shah and michelle. lady, gentleman, thanks very much for joining us. farage stays. check the big board. we are now down 50 points on the dow. small loss for the s&p. bigger loss for the nasdaq, that's down significantly. two of the biggest tech companies, as we said, they report this afternoon. we are going to hear from amazon and alphabet. fox business will be all over it. stay tuned, 4:00 eastern for those two very important earnings reports. progress at the border. customs and border protection say they built more than 50 miles of new wall at the border, and more's on the way.
9:41 am
an update from the acting chief of the border people, in our 11:00 hour. president trump considering a new executive order aimed at keeping drug prices low. big pharma is going to fight him every step of the way. we will talk about that with hhs secretary alex azar next. 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. prpharmacist recommendedne memory support brand. you can find it in the vitamin aisle in stores everywhere.
9:42 am
prevagen. healthier brain. better life. content on their endless quest, to nowhere.s, run hopelessly in their cage. but perhaps this year, a more exhilarating endeavor awaits. defy the laws of human nature,at the summer of audi sales event. get exceptional offers now. you're smart,eat you already knew that. but it's also great for finding the perfect used car. you'll see what a fair price is and you can connect with a truecar certified dealer. now you're even smarter. this is truecar.
9:43 am
stuart: north korea has launched a new type of short-range missile. what do you have on this? susan: a u.s. official has told fox news he's reviewed the latest intelligence assessment of these launches and telling us that north korea has test-fired what they are calling a new type of short-range ballistic missile. so last night we had the first
9:44 am
one flying about 270 miles or so. the second one was fired off 30 minutes later and that flew around 430 miles. it looks like they are test-firing some new machinery and defense technology which is a bit concerning. stuart: so much, that interferes with the talks, i do declare. thank you. check the big board. now we are down 73 points, at 27,195. let me remind you, this afternoon we get the latest earnings from alphabet as in google and amazon. both of those stocks slightly lower before the official results. the white house is preparing an executive order that would cut drug prices for medicare. joining us now, hhs secretary alex azar. mr. secretary, welcome back to the program. good to see you. >> hey, stuart. good to be with you. stuart: can you spell this out exactly which group of people will benefit, how much from this executive order? >> well, stuart, i couldn't possibly comment about potential administrative action that hasn't happened, but let me tell
9:45 am
you this. president trump is absolutely adamant about the fact that america's seniors have been overpaying for their drugs and they have been as a result being asked to subsidize and prop up the socialist systems of europe and that's got to stop, whether through trade measures or otherwise. they've got to pay more and our folks have got to pay less. stuart: i understand you can't tell me the details of this. i do understand that. nonetheless, can you tell me in princip principle, it seems to me this is price controls. that's exactly what it is, price controls. >> stuart, i really don't think any of our efforts would constitute price controls, if pharma companies are willingly giving discounts to other countries and saying we as the largest purchaser in the world for drugs ought to get the benefit of those same discounts, if they're dumb enough to give those discounts to other countries to say we ought to get the benefit of them also, that's sort of what's done in the commercial marketplace every single day.
9:46 am
that's not price control. that's saying if you make that deal, give us the benefit of that deal. now, whether and where we go with that, i don't know. i'm not able to say. but the president has been really clear that foreign free-riding and the sweetheart deals for other countries to our detriment is going to end. stuart: big pharma has got a lot of money and they employ a lot of lawyers. in the past, they have been able to hold things up forever and ever. i will put it to you, they will do the same thing again now. >> stuart, listen, president trump and i are challenging the status quo for the benefit of american patients, whether it's in transparency of hospital and insurance pricing or pharma -- getting pharmaceutical prices down. when you challenge the status quo, those who profit from the status quo are not going to be happy. they are going to spend money, they are going to attack you. so be it. stuart: you used to be a big pharma guy. you were the president of eli lily. you must have employed your lawyers to oppose some moves by administrations.
9:47 am
>> i know their tactics. i'm not afraid of them. we are challenging the status quo. president trump is taking it on and he's not afraid to fight for the american worker, to fight for the american patient and deliver real results and if it means that insurance companies or hospitals or pharma companies make less money or are not happy because of that disruption, so be it, because our north star is the american patient. stuart: what are you doing at this pledge to the american worker event? i think it's today at the white house. what's your role in that? >> well, president trump a year ago initiated the pledge to the american worker. he knew that because of the tax cuts and deregulation and work that we're doing, that this economy was going to get red-hot. we now have unemployment at 50-year lows. we've got women unemployment the lowest in 75 years, african-american, hispanic and disabled unemployment the lowest ever. we need workers. we need trained workers. we need our existing workers to improve their skill base. so a year ago, we started the
9:48 am
initiative, the pledge to america's workers where we have now 300 employers who committed to 12 million education and training opportunities for their employees. ivanka trump and i were just out last week in iowa and west des moines at one of our great retailers, a grocery chain which had committed a year ago 15,000 training opportunities for their employees. we got to see the results of the first year of implementation of that, hearing about people who have lifelong careers upskilling, getting trained, developing and advancing in their careers thanks to president trump's call to invest in the american worker. stuart: mr. secretary, we will see you later at that event and we thank you very much for being on the show this morning. >> thank you. stuart: back to the market, because we have taken a real turn south. now we are down 142 points, that's about a half of 1%. all across the board, stock prices lower this morning. we will explain it all momentarily. you have probably seen this before. nigel farage, hit by a milkshake by a liberal protester.
9:49 am
i want to know how feels about being a constant target of the intolerant left. nigel is still with us. he will answer those questions for us after this. with tough food, your dentures may slip and fall. fixodent ultra-max hold gives you the strongest hold ever to lock your dentures. so now you can eat tough food without worry.
9:50 am
fixodent and forget it. we like drip coffee, layovers-
9:51 am
-and waiting on hold. what we don't like is relying on fancy technology for help. snail mail! we were invited to a y2k party... uh, didn't that happen, like, 20 years ago? oh, look, karolyn, we've got a mathematician on our hands! check it out! now you can schedule a callback or reschedule an appointment, even on nights and weekends. today's xfinity service. simple. easy. awesome. i'd rather not.
9:52 am
9:53 am
stuart: now, we figured out why the dow is down so much. it's boeing. that stock is down 3.5%, because of the problems with the max jet at southwest and at american airlines. that takes 80 points off the dow, just that one single stock. so without that, we wouldn't be so low for the dow industrials. let me show you something. it's video. nigel farage pelted with a milkshake. that was back in britain as he was on the campaign trail. nigel is with us now live and in living color in new york city. what about over here? people know who you are in the united states. do you get the same kind of hostility? >> i walked two blocks in d.c. the other day and within the space of a few hundred yards i had two really up in your face aggressive people screaming and shouting, so i thought right, i can't even walk around the streets of america anymore. tell you what's going on here.
9:54 am
civilized democracy only works if you have the principle of losers consent. you lose the election but you accept the fact in a democracy that you do, and next time you pledge to try and win. what has happened here with brexit and trump is establishment figures have said these results are invalid, they must have cheated. the russians must have paid for it. all the rest of it. and they say to their own supporters we are virtuous and morally superior to the people who back trump. we are knuckle-dragging, you know, horrible, nasty bigoted people. this is encouraging this kind of behavior on the streets and i do not see this getting any better. all the while, you've got figures in america saying they would like to punch president trump in the face and unbelievably, a comedian on the bbc in britain saying after that incident with me that it should have been battery acid. stuart: what? >> yep. stuart: on live bbc? >> yes. said on live bbc and she still works for bbc. stuart: that's extraordinary.
9:55 am
>> it is genuinely appalling and the trouble is this. i have always in politics campaigned going out into the streets, meet people, street markets, round the pubs, whatever it is i do, and you begin to think to yourself gosh, dare i do it? that's not good for open democratic debate. we need more responsibility from people who call themselves liberals. they have got to start using peaceful democratic means and accept the results of three years ago. stuart: you are mr. brexit. boris johnson has just formed his cabinet which is largely made up of people who are in favor of leaving. brexit people. will you give him your support? >> he's now singing my song. conservatives are saying all the things i won the european elections with back in may. i am delighted. if boris means it, if he's going to push on and deliver, i will support him 100% of the way. but i'm so used to british conservative leaders promising one thing and then doing another. we'll find out in 98 days' time. stuart: he says do or die, you're out by october 31st. >> if he's right, i have
9:56 am
achieved my life's goal. stuart: if he pursues it, you will back him? >> absolutely. absolutely. stuart: with a deal, aggressive deal or not, you don't care? >> whatever it takes. i want my country to be free and independent. i spent 25 years campaigning for this. that's what matters to me. not my career in politics. the issue that matters to me. stuart: nigel farage, it was a great pleasure having you on this morning. hope you come back. we're not hostile on this set. thank you, nigel. two more examples of intolerance from the left. congresswoman ilhan omar says americans should more fearful of white men than terrorists. and as you heard from nigel, senator cory booker says he wants to punch the president in the face. my take on that will be at 11:00 this morning. next, though, you get my take on yesterday's mueller hearing. a flop, in my opinion. their impeachment case for the democrats is collapsing. all they've got to run on is their socialist economic message. do they think they can beat president trump with that? we'll be back. termites.
9:57 am
we're on the move. hey rick, all good?
9:58 am
oh yeah, we're good. we're good. terminix. defenders of home.
9:59 am
10:00 am
stuart: 10:00 eastern time means mortgage rates. >> 3.75, down from last week in line with the 10 year treasury yield above 2% and looks like we have mortgage applications running steadily the last two months hovering your 3-year lows and they say this will firm the purchase demand in the second half of this year. stuart: we shall see, 3.75% for the 30 year fixed-rate mortgage. now this. mueller was a bust. the hearing was a gigantic flop. it was a disaster for democrats.
10:01 am
so now what? you almost have to laugh. after the collapse of their impeachment case the left is still pushing impeachment or maybe prosecution after the president leaves office. what a chronic political mistake. we are not a nation of lawyers. we don't care to how our government perverted by legalism santa sierra leaders grambling to get him on something or anything is a real turn off. that leaves democrats with a huge 2020 problem. of sliming the president isn't working they have to run on policy and policy they have is socialism. that is not a winning strategy. kill your private health insurance, the fantasyland of the green new deal, open borders. i don't see middle america flocking to the socialist cause. the president is going to complete his first term in the socialist opponent in 2020 will ensure that he gets a second term. the extremely energetic donald
10:02 am
trump, 73, is running with a very positive message, a looming economy. when i'm done with the 2016 election, mueller was only one side of it. the other side of the inspector general's report coming in september. that will tell us what strzok, page, brennan, hillary and president obama were up to before, during and after the election. that will turn the tables. it is not the president under investigation, it is the democrats and if the inspector general is a recall before congress to testify, it will not be a repeat of mueller's floundering performance. democrat leaderships have an age problem. 74-year-old robert of occult is on the stand, but the older generation of democrats in the spotlight. joe biden is 76, bernie sanders 77, nancy pelosi 79, steny hoyer 80. it is a generational split.
10:03 am
there antagonist, alexandria ocasio cortez turns 30 in october. the extremely energetic donald trump 73 is running with a very positive message, that is a booming economy. look at this. right after the mueller hearings ended the president looked exuberant. adam schiff looked like they were attending a wake. chris wallace said it was indeed a disaster for democrats. the second hour of "varney and company" just getting started. >> the democrats lost so big today their party is in shambles right now. they've got the squad leading their party. they are a mess. where even if you take a look at scribe and you look at so many of the people that were
10:04 am
the most outspoken and they say this was a devastating day for the democrats and you know it, john, and everybody else knows it. this was a devastating day for the democrats. stuart: a devastating day for the democrats. we ought to bring in mike huckabee, former governor of arkansas. pretty strong expression, devastating for democrats, would you go that far? >> it is beyond my purview. not sure i can answer that. could you repeat the question? i can't quite hear you. i don't know anything about that even though it is in my report. it was a devastating day for them. there are three basic hierarchies of political war. the highest level is when you discuss policies. the second level where your policies aren't working, then you try to win by politics. you go out to try to get votes even if your policies stink you might still win. because you motivated voters.
10:05 am
when that doesn't work, the last thing you have in the lowest form of political war is personal attacks. let's be very clear, this president has experience because his policies are working, he won the election and the only thing democrats have left is to go to the lowest form of political war and that is a personal attack and assault on him, his family, his staff and everybody around him. stuart: we have to balance, some people, groups in our society, some demographics do not like the style, tone and character of donald trump. does that outweigh the prosperity donald trump has clearly given to the united states? not exactly a balancing act but that is the straightforward split. >> i understand there are a lot of people who think a president can be a little acerbic and sometimes very pushy and his
10:06 am
personality rubs some people the wrong way but we didn't elect him for his bedside manner. we elected him for his surgical skill and when it comes to what he does in the political or he is succeeding. the economy is humming beautifully. america is back on top in perception, no longer getting bullied along and getting pushed around by pipsqueak countries. this is something americans are to be grateful for. grateful for his pro-life pro-israel position, lower taxes, cutting regulations, things we are begging the president to do and we couldn't get republican presidents to do it and now we've got one and it is time to stand with it. stuart: it is always a pleasure. breaking news from the automakers.
10:07 am
they made a deal with california. what does that mean? >> four automakers from three continents struck a deal with california to produce more fuel-efficient cars for the us fleet in the coming years and this undercuts donald trump, halting fuel-efficient the rollback obama tried to enact during his presidency. 2012 they wanted fuel efficiency for the cars to be at 50 miles per gallon, 54 miles per gallon. this is enacted, you have to get there by 2025. look like these carmakers in crude forward, bmw after secret negotiations, looks like they have been able to negotiate, california has the right to enact their own fuel-efficient the laws and if you do it for one state you do it across the country. stuart: that means the rest of the country may have to follow higher fuel standards that california is laying down. >> they agreed to it. we have to be put in a straitjacket imposed by california. >> 51 miles per gallon for 2025
10:08 am
models. stuart: thank you, interesting information. nancy pelosi speaking about the progress of the first 200 days of the democrat-controlled house, she makes headlines, more news on mueller on impeachment or your money, we bring it to you pronto. to the markets, we are down 110 points on the down dust reels, much of that accounted for by boeing which is sharply lower. tj investment, i'm intrigued about mario draghi and what he said about the open economy, the economic outlook is getting worse and worse. to me, they print a ton more money, what do you say? >> they will print a lot of money.
10:09 am
she loved printing money, and european stocks. they are in trouble and the european union was a bad idea from the outset and the reason they are dragging their feet with britain is they don't want people lining up at the door to leave so it will be interesting to watch over the last 18 months. >> that is what they have and it is getting worse and worse, does that push money to the united states? we benefit from it. >> it is going to make a few more things difficult because you start to see our long interest rates go lower because of the pressure of what is happening in europe. that will bring the infield did yield curve and everyone will talk about a recession. what is happening in europe and what mario draghi is doing, why shouldn't the yield curve be inverted. the pressure of all these lower
10:10 am
rates they are putting on our economy here. stuart: boris johnson, the new prime minister in britain introduced his new cabinet which is almost entirely pro-brexit people. his cabinet and he want out. how do not so much the british markets but the financial world of london which is very powerful. how do they feel about boris and brexit and the october 31st deadline the? >> they have been saying get on with it for the last 18 months and it is an embarrassment they missed the last march deadline. this is what i say to boris johnson. instead of going in hand and begging europe to let them out of europe look what europe has done to the economic situation. september 1st, britain is leaving. unless you come with us, a plan i can get through my parliament and stay intellectual until the 31st.
10:11 am
and the european parliament. stuart: thanks for joining us, appreciate it. it is down 3.5%. check tesla. and 14% down, not producing enough cars fast enough, not selling them. it lost $7 billion worth of value in the market has only been open 41 minutes. ford motor company not a great forecast for the future. that means problems, stock is down 7%. car companies taking a hit. we had the head of the us chamber of commerce and how to get democrats to pass it.
10:12 am
antifa thugs attacking a conservative writer in portland, oregon. andy wants antifa recognized as a national terror group. you heard the reaction to mueller's testimony yesterday. next we have a member of donald trump's legal team with his take on it. ♪ truecar is great for finding new cars. you're smart, you already knew that. but it's also great for finding the perfect used car. you'll see what a fair price is and you can connect with a truecar certified dealer. now you're even smarter.
10:13 am
this is truecar. their medicare options... before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiring at 67? that's the plan! well, you've come to the right place. it's also a great time to learn about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. here's why... medicare part b doesn't pay for everything. only about 80% of your medical costs. this part is up to you... yeah, everyone's a little surprised to learn that one. a medicare supplement plan helps pay for some of what medicare doesn't. that could help cut down on those out-of-your-pocket
10:14 am
medical costs. call unitedhealthcare insurance company now or visit aarpmedsuppfacts.com for your free decision guide about the only medicare supplement plans endorsed by aarp. selected for meeting their high standards of quality and service. this type of plan lets you say "yes" to any doctor or hospital that accepts medicare patients. there are no networks or referrals to worry about. do you accept medicare patients? i sure do! see? you're able to stick with him. like to travel? this kind of plan goes with you anywhere you travel in the country. so go ahead, spend winter somewhere warm. if you're turning 65 soon or over 65 and planning to retire, find out more about the plans that live up to their name. thumbs up to that! remember, the time to prepare is before you go on medicare!
10:15 am
don't wait. get started today. to learn more about the range of aarp medicare supplement plans and their rates, call or go online today to request your free decision guide. oh, and happy birthday... or retirement... in advance. >> the attorney general's office, no certificate at the bottom of his desk. would you agree with me the attorney general does not have the power to exonerate? >> i'm going to pass on that. >> why? this is a headline from the
10:16 am
news channels where you were testifying today. mueller, trump was not exonerated. what you know is this can't say mueller exonerated trump because you don't have the power to exonerate trump. stuart: republican ohio congressman michael turner exchanging with mueller the power of exoneration. jordan, center for law and justice and a member of the president's legal team. sort this out for us because the media went crazy on this where they were all leading with that headline, donald trump was not exonerated by mueller, nail it please. >> bob mueller could not exonerate himself, not a single person could be exonerated by a prosecutor including bob mueller, they don't have that power the permit of justice, through any special counsel
10:17 am
kind of statute at all. that was all bogus. he did a major disservice to the country by including that language in the report by repeating it yesterday and bob mueller deserved to apologize to the american people for dragging us through this and his team knew there was no collusion or conspiracy and even though he got those reports confuse the report did not. he knows bottom line he never had the power to exonerate the pres either bring charges or don't. >> he didn't know many things about the report which bears his name. who do you think wrote the report? >> a small team of liberal attorneys led by andrew wiseman, jeannie ray, an attorney for hillary clinton and the clinton foundation
10:18 am
which bob mueller says she knew she wasn't an attorney for hillary clinton but not when he hired her. he put this team together that was extremely partisan. he was a figurehead. that was very obvious, bob mueller is a pro, a few years since he had done this. if he had good material to work with, if this report was comprehensible. if you could read it and it wasn't pool of double negatives, he could have at least gotten through his testimony yesterday. the fact he wasn't a lawyer with the basics like when doug collins started off i don't think that was a trick question. he was trying to get the yes or no the we throw around collusion, we mean conspiracy which is what the report says on page 180. the idea of this whole discussion he got in with te i tedli tedlieu, i understand what happened to william barr. when he said i met with bob mueller who told me they didn't
10:19 am
rely on the office of eagle council, bob mueller got up and did a press conference and said yes we did and he did that yesterday and came back and said no we didn't. you couldn't take anything what bob mueller said from you as the truth or a full grasp of what his team was pushing behind him and he had a horrifically partisan team on full display yesterday and jim comey leaked memos to get a special counsel, this team's goal was to put this together even though he didn't have the authority to do so to get in impeachment of the president. >> coming again soon. we are down 80 points. lending tree, big drop there,
10:20 am
it was a profit miss, $47. and they don't use meet on their labels. why can't you use meet. the aclu will take that case. ilhan omar's controversial response to a controversial question. my work on the divisive words from the democrats, the party of stability. ♪ see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation?
10:21 am
eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade
10:22 am
10:23 am
10:24 am
stuart: this loss on the dow is largely accounted for by boeing which is down 4.2%. the stock itself, just boeing stock is in a bear market down 21% and clearly upsetting the overall averages. when you lose 4% on boeing you take the dow industrials down 80, 90 points. breaking news. so nova open for trading 11:45, 750,000 shares, residential, solar and energy storage company, it opened at 11:45 as the stock rises. it is down $.96. samsung, they say they fit their folding phone. a little alliteration? it was a gimmick. the folding phone is a gimmick. >> to show off their new
10:25 am
technology, their display technology is ahead of the apple for one. we have problems with this. it costs $2000, being launched in april, and they did a few tweaks to it. they reinforced it. it is supposed to unfold from a smart phone into a tablet so they fixed the hinges and the protective layer on the screen itself because people were ripping it off. they are supposed to rip off the phone so we will see but there's an unpacking of a new galaxy node to get a preview wanted on 5 august. stuart: when you use the word hinges applied to a computer it throws me. hinges are from 1902 or something. the aclu, in several states, they are not allowed to use the
10:26 am
word meet. the aclu says they should be allowed to use free speech. >> apparently, if you are not made of animal flesh, can't carry -- burger and even pasta. stuart: you can't even say hotdog. >> the aclu has jumped in helping these meatless companies and they are suing arkansas for their strict label restrictions and they say it is because it plays favorites with industry and similar lawsuits are pending in missouri and mississippi. stuart: i can't believe i'm on the same side as the aclu. us and china trade negotiators back there negotiations on face-to-face meetings in shanghai. what does the top american business lobbyist want out of any deal? next.
10:27 am
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.
10:28 am
10:29 am
10:30 am
stuart: i got to do is play the opening. i can't put a name to it but i like it. it is your birthday. i like this song, very apropos. look at the bottom right of your screen, tesla is down. we stay on the british invasion theme. luxury carmaker james bond favorite aston martin lost a
10:31 am
chunk of its value. how much did it lose and why? >> it lost 27% in one day of trade and they are blaming severe weakness in the uk, not the european markets and global macroeconomic uncertainty. they are going to start launching an suv later this year, hoping they are en vogue and last year they ipo in october and it is down 58% since the ipo at a value of $5 billion. one of the investors in aston martin used to make such a beautiful cars in the james bond series. stuart: they are not selling, not a good market for it. stuart: i can't recall last time i saw one. stuart: i like one but i am not seeing one. check the big board. we are down 70 points.
10:32 am
the atlanta the it second quarter economic growth forecast. down to 1.3 from 1.6. that is what they have just done. the us chamber of commerce, the us, mexico trade agreement past, look who's here, tom donohue, president and ceo. i have known you for many years, great to see you again. >> great to see you again. stuart: everyone wants the us mca past except the democrats. they won't get it through congress. >> we are making extraordinary progress with the democrats. lighthizer, the trade rep, knew
10:33 am
all along that is where we were going to have to find our support. we have a strong number of democrats ready to pass the bill. nancy pelosi is working with lighthizer on a number of adjustments that are important and we will support. right now today, we are having an event here to report on extraordinary numbers of meetings, this looks good. we just have to get it finished and we will win it. stuart: when will they put up for a vote? until september or something. >> i think it will all be fixed by the september timeframe and it will put up the vote at an early time after their return. stuart: will it be changed at all? >> it won't be changed but there will be some additions,
10:34 am
additions that are being worked on now. the deal, making sure the things in the agreements are enforceable, there are some technical issues being worked on in very good spirit between the people doing it. this is an unbelievable agreement. it is $4 billion a day of trade between the united states, canada, and mexico. they are the largest trading partner. stuart: if you pass it, that will be a win for donald trump, a win for republicans and the democrats will move heaven and earth not to give him a win. >> that is not exactly true because the 12 major states that would be affected negatively by not passing it might be a problem for donald trump but it would be a major problem for the many democrats that are running for office from those states and so there
10:35 am
is a mutual interest for the people in congress to have something they voted successfully on to go and run for office in both parties and you don't want to take the risk of trying to go after the other party because it may kill yourself in the process. stuart: you are diplomatic that is a fact. the us trade delegation heading to china, face-to-face meetings, shanghai, you consult with the trade team. is china going to put back the concessions they took out of the agreement? >> the china, us agreement is complicated. there is something to understand. both china and the united states need to get this agreement done. we needed so we can stop or slow down the shrinkage in us growth.
10:36 am
they have serious economic growth issues and now serious unemployment issues and some of their major industries and there are other issues holding this thing back, but i think here is where politics are in question and politics are about timing. both countries need this deal. we will get there and the big question is when and i am look forward to the report we will get from lighthizer when he returns. >> so are we and so is the stock market. great to see you back again. if you are not careful i will, tom donohue, thank you, see you again soon. southwest airlines says it is not going to fly that max jet until next year and it is pulling out of newark airport. this is all max jet related. >> more massive than any
10:37 am
airline, 34 of its planes are max jet's so because of the problems they say they won't use it until january 5th of next year and that is causing some financial problems for them so they are pulling out of newark airport consolidating into laguardia instead in this is to save money. you want to apply southwest you are not going to be flying out of newark. stuart: the repercussions along, do they not? chinese millionaire and crypto currency investor justin son has canceled lunch with warren buffett. but why? >> he paid a record $4.6 million for the honor and basically eat lunch in new york but then justin paid another $100,000 to make that lunch moved to san francisco. it was supposed to take place today. that has been canceled because he was sick. social media and chinese media outlets are accusing him of canceling because he has been
10:38 am
engaging in illegal activities within china and this comes from illegal fundraising and that is circulating the internet and he says that's not true, he's just sick and going to take a rain check on this. stuart: he is out of favor with beijing. >> this is social media. he himself has denied it. a company that uses crypto currency, he is a millionaire, he is in his late 20s by the way and the company he owns is the 11th largest crypto currency trader i market value. it dropped to 16% on tuesday because of those concerns. stuart: those concerns. okay. up next, we're going to speak to andy now who was finally attacked by antifa rugs at a rally, he once antifa recognized as a terror organization. we will check up on that. a baptist pastor from virginia has had his congregation walk out on him after he put up that sign outside the church the red america, love it or leave it,
10:39 am
the story coming up at our 11:00 hour for you. [ dogs barking ] what about him? let's do it.
10:40 am
[ sniffing ] come on. this summer, add a new member to the family. hurry into the mercedes-benz summer event today for exceptional offers. lease the glc 300 suv for just $419 a month at the mercedes-benz summer event. going on now. join us for a walk? i'd love to, but my legs and feet are so tired and achy. walter, you need revitive ! it's the circulation booster! it really got me moving. i use my revitive every day! to relieve my aching legs and feet. it's so easy.... drug free.... and its electrical muscle stimulation really improves the circulation in my legs. i'm back walking this guy everywhere. check it out online. revitive ... fda cleared... clinically tested. only revitive relieves aches and pains, increases oxygen rich blood, and strengthens leg muscles. we've gotta do this. don't suffer any longer!
10:41 am
order revitive medic with a 60 day money back guarantee. with free shipping and free returns. someone got revitive. order now and we'll send you our most popular treatment boosting accessories. a $50 value absolutely free! go to revitive.com or call... get moving today!
10:42 am
stuart: a narrowing loss, we are down 69, 70 points. next case, andy now. as you know he was attacked by antifa thugs. now he wents antifa, those people there they were attacking him, wants them designated a national terror group. he is with us now. we've seen the video, we have had you on the show before and you want them declared a terror
10:43 am
group, how are you going to do that? >> i'm in washington dc to speak to politicians to share my story of what happened to me which by the way there's been no arrests 31/2 weeks later and also to share what i learned about this militant movement, portland is ground 0 for far less militant activism. stuart: tell me more. what do you know about antifa that say they are a bunch of terrorists? >> the mainstream media in dc or new york may only be familiar with antifa when they have street hooligans on the street causing violence and anarchy but behind that is an ideology that seeks to overthrow the government, agitating for political revolution and violence is a part of how they achieve that goal.
10:44 am
stuart: the mayor of portland named ted wheeler, tended to blame the police for the presence of antifa on the streets, up to them to enforce the law. what do you make of that? >> ted wheeler, it is hard to be a mayor in portland, but one of the issues that your viewers need to know is the mayor doubles as a police commissioner and the head of the portland police union, after i was beaten and robbed came out with a statement calling for the mayor to remove the handcuffs of the police. there is a back and forth going. it is my perception that
10:45 am
because of -- stuart: i have got to tell you, something i don't understand. there is the videotape. you can clearly see people beating you. that is outrageous and you are telling me there are no arrests since then, just a backwards and forwards how the police should handle it, no arestin three weeks. really? >> no arrests and the beating ironically stepped away from the police precinct. stuart: do you know if police had any informers inside antifa? >> that i don't know. stuart: may i say they should have them because that is the way you find out who they are and what they are up to. is a true they don't bathe? they deliberately smell? is that true? >> it is a movement that attracts people with, some of them i found, many unfortunately, with personality disorders and issues of mental illness so there are some that have what you just said but i
10:46 am
don't know if it is part of a strategy. i don't think it is. stuart: i would be a little more aggravated if i were you but i do wish you well in getting them declared a terrorist group. i hope we see you again. >> my pleasure. stuart: donald trump holds an event to celebrate the blue-collar worker, one of those workers who will be at the event is a success story and will tell us all about it. ♪ hmm. exactly. liberty mutual customizes your car insurance, so you only pay for what you need. nice. but, uh... what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ but how do i know if i'm i'm getting a good deal? i tell truecar my zip and which car i want and truecar shows the range of prices
10:47 am
people in my area actually paid for the same car so i know if i'm getting a great price. this is how car buying was always meant to be. this is truecar. today's senior living communities have never been better, with amazing amenities like movie theaters, exercise rooms and swimming pools, public cafes, bars and bistros even pet care services. and there's never been an easier way to get great advice. a place for mom is a free service that pairs you with a local advisor to help you sort through your options and find a perfect place. a place for mom. you know your family we know senior living. together we'll make the right choice.
10:48 am
10:49 am
10:50 am
stuart: a 12:45%, 200, if it wasn't for that stock, boeing is down 3.1%, $11 down, that accounts for the entire loss of the dow industrials. the white house posting a pledge to american workers event today. our next guest got the training that gave him the skills and a bigger paycheck to support his family. he will be featured by the
10:51 am
president, tim grow is with us, and instrument fitter. welcome to the program, good to see you. you did not go to college. is that right? >> i enrolled in the associated builders and contractors in louisiana, pelican chapter. i went for electrical and instrumentation and got my credentials there. and somewhat sleepless nights and was well worth it. go ahead, do it, look up your local associated builders in that area. an investment in yourself. and you got your credentials, you are an electrician i think. >> i have the industrial
10:52 am
electrician and industrial instrument technician certification. stuart: and apprenticeship scheme, is that an apprenticeship scheme? >> it was the open shop program for me where someone with experience, just go to school while you still work full-time and are in your paycheck and her and while you earn. stuart: how much do you make if i may ask? >> 26 in our and in the last year, 24% increase in pay. stuart: you thank donald trump for this? >> i am grateful he made this pledge to the american worker to have a strange, retrained and of skilled. we appreciate it. stuart: great to have you with us. you are a success. thanks for being with us.
10:53 am
thank you. appreciate it. check forward, it is down 7%, lower profits, lower forecasts, stocks down. >> china struggling as well. they invested a lot into china, restructuring charges and the eu, ford, like general motors, slashing jobs around the world. and gm forcing -- 14,000 across north america. stuart: you added up tesla, down 10%, 11%. nissan is down, not a good day for the carmaker. ford is one of the four carmakers who got a deal in california. stuart: >> the words of bmw and other carmakers.
10:54 am
they have agreed to standardize their miles per gallon. stuart: by 2025. that means they are laying down standards for the rest of the country. >> that's right, one car, you have to make it for the rest of the country and they were going to roll back the obama era car efficiency, reached 54 x 2025 under the obama administration. when trump stepped in he said this will cost at least half $1 trillion, might as well take it back right now. stuart: california is saying no you don't. we have our standard and every other states will have to obey them because we are so big. dish also is down big, really big, 5%. >> we have the impending approval of sprint t-mobile,
10:55 am
goes from 4 to 3. and that is the spectrum. they are the smallest player in this entire space and those other two players are getting to 5g so dish right now is a key loser, and to value dish with the wireless budget but doesn't exist if they pick up will of the actual spectrum. stuart: i think i got all this. dish is not doing very well, we are down 60 points on the dow jones industrial average. we were down 120, 140, at one stage. two negatives, mario draghi says the economy is getting worse and worse and that is not good for us. you have boeing down significantly and that is hurting the dow industrials.
10:56 am
another one is tesla, the stock of the day, reported late yesterday, not selling enough cars and not making enough cars. >> the cars they are selling, much better price. cannibalizing higher tier models. >> you know what i think was the biggest problem? one of the top technology guys left. he has been there forever. >> the cofounders, who and the pioneers and technology officers, one of the highest profile partners leaving the company as well. a lot of problems. stuart: when you lose 12% in an hour or so, you have a problem. democrat presidential candidates resorting to what i call bizarre behavior in the race for 2020. that is beto o'rourke insisting his campaign workers do push-upss at an airport.
10:57 am
just last week joe biden challenging trump to a push-up contest, bizarre in need. my take moments away. also asking former father priest jonathan morris about leaving the priesthood. on the show today. that is nfl star derek morgan on the show, he retired at 30. i want to know why. termites, feasting on homes 24/7. we're on the move. roger. hey rick, all good? oh yeah, we're good. we're good. termites never stop trying to get in, we never stop working to keep them out.
10:58 am
terminix. defenders of home. with tough food, your dentures may slip and fall. fixodent ultra-max hold gives you the strongest hold ever to lock your dentures. so now you can eat tough food without worry. fixodent and forget it.
10:59 am
11:00 am
stuart: this is bizarre. extreme. frankly, outrageous. ilhan omar interviewed by al-jazeera says america has more to fear from white men than jihadists. now, i'm all for free speech. in fact, in this instance, i give her maximum publicity. let's see what she really feels. if you're a democrat, you're probably cringing. as hillary clinton learned, you don't win elections by insulting a hundred million voters. some of the antics of the presidential candidates truly go to bizarre extremes.
11:01 am
beto o'rourke insisting that his team do pushups to kill time at an airport. you still think you have a chance to be president doing something like that, really? last week, joe biden challenged the president to a pushup contest, if he mocked biden's age. what is it with these democrats and pushups? here's another bizarre episode. at a time when democrats demand for civility in politics, candidate cory booker says he feels like punching the president in the face but he doesn't want to sink to his level. why would he say that? senator booker explains he's got too much testosterone. we could go on. we could drag up senator warren's awkward reach for a beer in a campaign commercial. was it senator gillibrand playing beer pong? yes, it was. i think the word bizarre is appropriate. it's silly, marginally ridiculous behavior. yes, it is. with ilhan omar, it's divisive and insulting. taken all together, it's desperation.
11:02 am
democrats cringe and the president, he's having a grand old time. the third hour of "varney & company" is about to begin. he starts making fun of your age, your mental state, starts going after you in ways that, i mean -- >> come on, donald. come on, man. how many pushup s you want to d, pal? jokingly. come on, run with me, man. >> my testosterone sometimes makes me want to feel like punching him, which would be bad for this elderly out-of-shape man that he is if i did that, physically weak specimen. >> i would say our country should be more fearful of white men across our country because
11:03 am
they are actually causing most of the deaths within this country and so if fear was the driving force of policies to keep america safe, americans safe inside of this country, we should be profiling, monitoring and creating policies to fight the radicalization of white men. stuart: so you just saw it. the so-called civil democrats have punched a one-way ticket to bizarro world. let's get right at it. kelly sadler is on set with us, america first action pac communications director. hey, trump lady, is that correct? >> trump lady. stuart: do you think this is -- i'm kind of feeding you here. >> come on. stuart: is this the new normal? >> i hope not. you know what -- stuart: wait, no, no, no. you win with that. >> of course we win with that.
11:04 am
that's crazytown, stuart. the majority of americans know this. if you look at a marist poll that came out monday, the americans polled were asked do you think the democratic candidates running for president are taking our country in the right direction or the wrong direction. 48% of those polled said wrong direction. only 43% of those thought they were taking us in the right direction. this is based on their policies because they also polled on their policies. overwhelmingly, americans disapprove of decriminalizing the southern border, giving free health care to illegal immigrants, reparations, medicare for all. they all had over 50% disapproval. this is what this group are running on, this radicalized agenda. stuart: i will run some video. this is senator elizabeth warren. actually, it's a sound bite, that's right. let's hear some sound on this. senator warren and the ill-fated attempt to drink some beer on camera. watch this. >> hold on a sec. i'm going to get me a beer.
11:05 am
hey. my husband bruce is now in here. want a beer? >> i'll pass on the beer for now. stuart: that was quite something, wasn't it? you can't beat that. >> no, you can't. stuart: yes, you can. >> the pandering, the pandering that these coastal elite liberals that graduate from harvard are trying to do, this is the type of attempts they are trying to do to identify with middle america. it is insulting to the majority of americans and inauthentic. she would be better off drinking a cosmo at a club in boston, right? this is just out of this world pandering, ridiculous attempts to identify with the majority of americans. what they should be doing is putting policy together that's better off but they're not. they are getting root canals -- stuart: i think i got to you. i got to you. >> but it's just unbelievable.
11:06 am
and it's funny. stuart: kelly sadler, thank you very much indeed. i'm glad we made your day. hold on. congressman sean duffy is with us, wisconsin republican. all right, sean, i'm having a good old laugh at this, but i don't think it's that funny, quite honestly. it's bizarre. what do you make of this? >> absolutely. ilhan omar who says jihadists are less dangerous than white americans? you have to be kidding me. they are terrorists and they plot to figure out how to kill americans and white men get up, put the boots on, go to work, pay taxes, raise their families and help make this country great. you've got to be kidding me. at a time when the democrats and their base used to be white working class americans, they have lost it because of comments like this from ilhan omar, who are attacking white males. by the way, when you look around the democrat party, there is deafening silence. no one is calling her out, no one is condemning her.
11:07 am
they actually approve of it as she's one of the new leaders of the democrat party. as you run all those clips, what democrats are trying to do, they are trying to relate to middle class voters and the problem is, you got to do that with policy. you got to have ideas that are going to make their lives better, their families stronger, their incomes rise. that's what's going to move them. not a fake beer or pushup contest and say you're more masculine than the really masculine donald trump. that won't work which is why you see so many democratic candidates struggling right now with their inauthenticity. stuart: got it. inauthenticity. kind of an awkward word but it works. sean duffy, thank you very much indeed. thanks a lot. check the market now. we were down 140, now we're down 50. nasdaq still losing half a percentage point. boeing is the big drag on the dow. still down over 3%, nearly 3.5%. it's a dow stock taking quite a
11:08 am
few points off the dow. without boeing, the dow would be up. now take a look at facebook, please. monthly users up 8%. revenue up yet again. they are the teflon stock. they are shaking off all the bad p.r. and the investigations. deirdre: they certainly are. two main reasons for that, when speaking with analysts about the results, they say they are the 800 pound gorilla in the room as far as ad sales go. love them or hate them, they're there, they take up space. then the fundamentals, billions of users. again, love them or hate them, they are there. stuart: they make the money. deirdre: well, what about this regulation risk, what about this $5 billion slap on the wrist which is a pretty sincere one, what about the fact zuckerberg will be monitored quarter to quarter and the government now has a say -- everybody says they're there. stuart: long as you make billions every quarter. deirdre: i also want to make a point about the stock. it is exceeding by far any of the other fang stocks. but i mean, it's up something
11:09 am
like 55% year to date and that is more than scooping the s&p 500. stuart: now, this afternoon we get earnings from amazon and from google. deirdre: parent alphabet. stuart: first of all, what are investors looking for? deirdre: for amazon, you want to start with google? okay. it's going to be about revenue growth in youtube and search. they are now part of this antitrust investigation so will google also be a teflon, i guess you should say alphabet, a teflon stock in the way facebook is, or is it going to show the kind of regulatory pressure. the growth story is about youtube revenue and about search. stuart: what's the story from amazon? deirdre: year on year revenue growth is going to slow but i just want to note it's still at 17%. there's plenty of businesses that would love to have 17% sales growth year on year. as a side note, that is slowing for amazon. you may have the pessimists looking at that. also, they are spending more,
11:10 am
spending more to keep us, so their expenses are going higher. i'm just giving you the glass half empty. but the glass half full for amazon is of course aws, the cloud services. they are rocking it. no other way to say it. only microsoft is taking them on with azure. stuart: glad you got that in. thank you very much indeed. 4:00 eastern time this afternoon, that is, watch the fox business network because we're right there with amazon, with google. you get it pronto. see exactly what's going on. as i say, yesterday's mueller hearing in my opinion again, a big flop for the democrats. their impeachment case collapsing. all they have to run on is their socialist economic message. do they really think they can beat president trump? we are going to talk to bret baier about this. customs and border protection says they built more than 50 miles of new wall at the border. and more is on the way. we've got an update on what's going on from the active border commissioner, coming up. happening now at the pentagon, president trump officially welcoming the newly confirmed defense secretary mark
11:11 am
esper. another live action star-studded hour for you just ahead. this is the third hour of "varney." ♪
11:12 am
11:13 am
11:14 am
stuart: now to the pentagon, president trump officially welcoming the newly confirmed defense secretary mark esper. the president is expected to speak. if he makes any news, we'll have it for you real fast. to the border crisis. we've seen report after report saying there is no wall being built. apparently that's not true. mark morgan is with us, acting border protection commissioner. give me an update, mark. are we actually building the wall now? >> stuart, thanks for asking this question. the answer to that is we absolutely are. again, the american people expect us to secure our borders and an integral part of that is
11:15 am
the wall. it's part of what we have been saying for a long time, that multi-layered approach of infrastructure, technology and personnel. today, you said in your monologue, 52 miles of new wall have been built at strategic locations. right now, under construction, under contract, we have another 52 miles of new wall being built. within the next 18 months, we hope to have an additional hundred miles of new wall being built in specific locations to include rgv. that will bring the total up to about 205 miles of new wall. in addition to that, we are working with our partner dod and hoping once that funding gets released, another 250 miles. stuart: now give me an update, you've got the numbers, how many border apprehensions? i know they're down, down by how much? tell us. >> so they're down by about 28%. i'm telling you, that's a game changer in the numbers, but we're still in a full-on crisis even with the numbers going
11:16 am
down. a lot of it absolutely has to do with what the white house is trying to do on multiple fronts. with the president's pressure on the govern ment of mexico have really led them to get off the benches and step up. they are increasing interior enforcement and helping us on the u.s./mexican border. those efforts are paying dividends. stuart: good. now, a federal judge in san francisco shot down president trump's bid to block asylum seekers from filing in the u.s. now we just got the white house response. here it is. quoting, the tyranny of a dysfunctional system that prevents plaintiffs to forum shop in order to find a single district judge who will purport to dictate immigration policy to an entire nation even in the face of a contrary ruling by another federal court must come to an end. we intend to pursue all available options to address this meritless ruling and to defend this nation's borders. mark, your take.
11:17 am
>> so i support the white house 100% fighting this. this is another example why we have been trying to work with congress to pass meaningful legislation to address this crisis and they have refused to do so. they know what they need to do and they refuse to do so to protect the american people. meanwhile, this administration is trying to do everything they can within the current legal framework, within the laws that they can do and time and time again, judicial activism shoots that down. this was an example, what they were trying to do with this new policy would have been another game changer with respect to reduce the flow of illegal immigration into this country and here we go, it's enjoined again. stuart: you are really good on television. you know how to get everything in, short, sharp, to the point and directly. man, you're good. you should have my job. mark morgan, thanks very much for joining us. we always appreciate it. thank you. >> any time. thank you. stuart: sure thing. check the price of oil this morning. where are we? up $56.55 is where we are.
11:18 am
despite all the trouble in the gulf, $56 a barrel. bitcoin, haven't checked on that for awhile. where is it today? $9,991. the price of gold, haven't checked that yet today but we will now, $1,431 per ounce. down five bucks. we are going to be talking to a former nfl player, derrick morgan. get this, he's 30 and he's just retired. how did he do that? we have more on fortune and fame. a new report reveals the amount of money that kylie jenner makes from one instagram post. it's more than most people make in a lifetime. it's a jaw-dropping number. we've got it for you next. ♪ hi i'm joan lunden.
11:19 am
today's senior living communities have never been better, with amazing amenities like movie theaters, exercise rooms and swimming pools, public cafes, bars and bistros even pet care services. and there's never been an easier way to get great advice. a place for mom is a free service that pairs you with a local advisor to help you sort through your options and find a perfect place. a place for mom. you know your family we know senior living. together we'll make the right choice.
11:20 am
11:21 am
11:22 am
stuart: it's coming back, that foldable phone from samsung, plagued with tech issues, design flaws, delays, et cetera, it's finally getting its release date. on the shelves by september, four months after its original release. it's still got the same steep price tag, though, just shy of $2,000. for a folding phone. next story, bit of agita for
11:23 am
one of our 26-year-old producers. he's clearly in the wrong business. we have a list of top celebrity earners on instagram. how much cash they make for one post. deirdre's got the list. deirdre: yes, i do. kylie jenner who is 21 years old, is at the top of this 2019 instagram rich list per post. she makes upward of $1.2 million. so hopper hq, a data firm in the uk, put together this kind of social media influencer list. they are the ones who do the calculation, they use data, public info, number of followers, demographic of audience, level of engagement, and then just outright asking the person's agent how much does he or she make. there's the list. we can see there. you have a lot of singers, entertainers, then you do have christiano ronaldo, i know you follow soccer closely. naymar is in the top ten. we didn't put him on there. stuart: it says per sponsored post so for each sponsored post,
11:24 am
they make that kind of money? deirdre: they certainly do. stuart: do they put a commercial on there? deirdre: for example, kylie has something like 141 million followers and the people who follow her, if she says i'm wearing this lip gloss, as she does for her own line, the level of engagement from the people who follow, they will go buy it. it's almost like a -- it is a direct endorsement and she can get people to move with their feet to the stores, she sells her line at ulta, which is like sephora. stuart: i'm all in favor, anybody who can make that kind of money out of an instagram post gets my vote. case closed. case closed. genius. deirdre: why not. stuart: now this. ponzi schemer bernie madoff wants a get out of jail free card. he's lobbying the president to commute his 150-year sentence. will he get it? he's 81 now, by the way. check the markets. up next, heather zumarraga says the economy, the economy, that's
11:25 am
the driving force behind those record highs. we'll be back. ♪ here you go little guy.
11:26 am
a cockroach can survive submerged underwater for 30 minutes.
11:27 am
wow. yeah, wow. not getting in today. not on my watch. pests never stop trying to get in. we never stop working to keep them out. terminix. defenders of home.
11:28 am
11:29 am
stuart: we are down 85 points, much of that loss accounted for by one stock. that is boeing. boeing's down over 3% and the boeing decline accounts for about 80 points of the dow's decline. look at that, down 3.5%. that is boeing. still on your money, come in, heather zumarraga, this thursday morning. vision for fund distributors vice president. great title. now, markets are consistently hitting all-time highs but please, look to the future for me. does the economic performance of the united states justify more highs for the market in the future? >> it absolutely does justify it, stuart. now, it won't be a straight path, i'm not saying that the markets cannot go down and growth may be slowing, but nowhere near levels that warrant any type of recession right now in the economy. stuart: don't you get a little worried, though? you're an investment adviser. you tell people what to do with their money. here we have stocks, what, the market's gone up for 11 years.
11:30 am
you're at new highs. it takes a very strong stomach, doesn't it, to say to a client yeah, you know, i think you should put more money into this market? >> well, but here's the problem is that if you look at bank of america, for example, they are saying that the average investor is underinvested in equities, bond flows are set to reach $455 billion this year. that tells me that people still have money on the sidelines. i mean, u.s. treasuries may be the most crowded trade right now and bull markets die in euphoria so when you have people that are just piling into bonds, no, i don't think that the average retail investor is overinvested in equities right here. stuart: by the way, left-hand side of the screen, i don't think you can see it, that is president trump arriving at the pentagon for the formal reception for the new defense secretary, mark esper. we believe that the president may say a few words at some point moments from now. if he makes any news, we will
11:31 am
get back to him real fast and you will hear what the man has to say. heather, the economy. what kind of growth, now tomorrow we've got these growth numbers on how much the economy grew in the second quarter of the year. what's your estimate? what are we looking at? >> the economy may slow a little but we're far better than we were under president obama, under eight years of subpar 2% average growth. so even if we're not on an annual basis of 3% growth, you look at unemployment numbers at 50-year lows, wages are going up. for lower income americans, those who need it the most. and retail, you look at consumer spending for the average person that's out there shopping, those numbers look really good. so people aren't going to spend, if they think we're going to enter recession. stuart: last one. this is for you, just 20 seconds. you have been on this program for a couple of years. you have always been bullish and frankly, you have been right. you have been right. what is it that's out there that
11:32 am
would make you change your position completely and tell me to sell my microsoft and everything else? >> well, i'll be wrong at some point in time, i know that. but look, over the long run, stocks go up. look, i think the biggest risk is the fed. although i don't think they need to cut rates right now, wall street, 80% of investors are expecting a 25 basis point cut next wednesday. so that is the biggest threat right now. if the markets don't get that rate cut that keeps the market i guess propped up on easy money. stuart: heather, i think they will get that rate cut but we will wait and see. heather zumarraga, thanks very much indeed. left-hand side of your screen, when the president begins to speak, we will be taking him. we will hear what he has to say. right now, i want to bring in a good friend. former father jonathan morris. this is his first appearance on our show in quite some time. he's all dressed up in his
11:33 am
civvies. can i say that? >> have to figure out how to tie a tie. stuart: i know you have done several interviews about why you left the priesthood. i want to ask you the same question. >> sure. stuart: this is a difficult thing for me to ask. was it the difficulty of maintaining celibacy that kept you, that pushed you out of the priesthood? >> that's definitely part of it but not just celibacy, but the idea of having a family, having a wife and a family. stuart: that's what you want. >> you know, i recognize it's not something you just go out and get, and when that happens, it doesn't usually work out, right. it's not about -- there's nobody in particular that i had a relationship with. it's the idea for me has been forever, i would say almost from the very beginning, that once i made the decision and it was a decision to say i'm going to serve god and serve other people 100%, you give up everything else, that was what moved me. but almost immediately
11:34 am
afterwards, i said gosh, if i could change paths, i would, but i don't want to let people down. i don't want to let people's expectations of me down. in my personal life, what happened is as years went on, i became more and more public, on television, obviously in my parishes, and that idea of -- or that fear of letting other people down kept me in for longer than i should have been in. it doesn't mean that i was miserable the whole time, but -- and i thank god for all the blessings that came in my life and i hope i was able to be a blessing to other people as well, but yes. stuart: you were a blessing to me, young man. >> thank you. thanks for calling me young, by the way. stuart: you are young. >> comparatively. stuart: let's get to this one. a pastor in a baptist church in virginia, he had his congregation walk out on him because he posted that sign
11:35 am
outside. america, love it or leave it. the congregation walked out when they saw it. what do you make of that? >> my guess is there was probably more to it. in other words, somebody who does that probably has said other things that probably grated on ebl ppeople's sensibilities. i do believe love it or leave it, absolutely, 100%, but also as a pastor, you have a responsibility to meet people where they're at and lead them to greater places. stuart: it's a legitimate statement, america, love it or leave it. >> i wouldn't put it on my church. no. stuart: give me 30 seconds. would you be any part of a movement which encourages a married priesthood within the catholic church? >> i think the question should be asked and considered serious seriously. in my case, i would never have joined the priesthood if i could have been married because if i'm going to get married, my first and number one priority is going to be family, making money, it's
11:36 am
going to be all of that, but i think by allowing good married men now to be candidates for the priesthood may increase the pool and the quality. stuart: well said. >> i think that especially during these times right now, we recognize with all of the abuse of children, the scandal, that disgusting situation, that having married men be ordained might change things in a positive way. stuart: i was going to call you father jonathan but i will call you -- >> call me whatever you want. same guy. stuart: you were great. it's great to have you back. a real honor to have you. do we ask him to stay? oh, we are going to ask you to stay. i don't know why. oh, i know. i know. we are going to have you comment on something else. stay there, please. let's go to deirdre. the next story. it seems like everybody is clamoring for president trump to reduce their prison sentences.
11:37 am
kanye west, asap rocky. now bernie madoff. deirdre: asking that his sentence be reduced because at the moment, he is serving a 150-year sentence. i will just remind you he was charged with 11 counts of fraud, money laundering, theft, perjury, accused of cheating investors out of as much as $65 billion over 20 years, many of whom i met, i will tell you, people who had small family businesses who invested unwisely but every single nickel with him, and at 65 or 70, had to completely restart their finances from zero. stuart: he's 81 years old. he served 10, 12 years, whatever it is. you wouldn't let him out, would you? deirdre: i wouldn't. he also cornered the hot chocolate market, oddly enough. stuart: he did? deirdre: yeah. a leopard doesn't change its spots, right? if you wanted hot chocolate, he basically kind of got it all from the comissary and would sell it for profit, swiss miss packets. if you wanted hot chocolate in prison you had to buy it from bernie madoff. stuart: would you let him out?
11:38 am
he's 81. >> i certainly wouldn't reduce the prison sentence. stuart: it's 150 year sentence. >> exactly. it has to be proportional. stuart: you wouldn't let him out? >> no. i would not. stuart: the man is 81 years old. >> i have great feelings also of mercy, but i believe in ultimate mercy which is from god. here on this earth, i think we also need justice and to serve it proportionately. stuart: you are good. you haven't lost your touch, lad. let me tell you. >> i feel very happy. stuart: thank you very much for joining us. rough day for the auto makers. yes, indeedy. tesla, the chief tech guy is stepping down. the stock has dropped 11% overnight and right now it's down 14%. they reported quite a big loss in revenue. elon musk says don't worry, the company will turn a profit from next quarter on. the market doesn't believe it. check ford. big investments in electric cars not paying off yet.
11:39 am
revenue down from this time last year thanks to global restructuring. their chief executive put out a lukewarm forecast for the rest of the year. stock's down 7%. nissan announced it's slashing 12,000 jobs the next four years. more fallout from the arrest of former chair carlos ghosn. car sales are also down across the globe, including here in the united states. coming up, former nfl player derrick morgan. he's 30. he's already retired. i tell you, i'm in the wrong business. i want to know, did he leave so much money, why did he leave so much money on the table? he did. i say yesterday's mueller hearing, a big flop for the democrats. the impeachment case collapsing. all they have to run on is their socialist economic message. they really think they can beat the president with that? i talk about it with bret baier, next. >> i think robert mueller did a horrible job, both today and with respect to the
11:40 am
investigation but in all fairness to robert mueller, he had nothing to work with. you know, you can be a builder but if they don't give you the right materials, you're not going to build a very good building. ♪ -driverless cars... -all ground personnel... ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade.
11:41 am
to the aarp auto insurance program from the hartford? let's hear what actual customers are saying. - with the hartford, not only did i get a better policy and better coverage but i got a better rate as well. hundreds in savings. - [matt] in fact, four out of five aarp members aged 50 and over who switched to the hartford from companies like allstate, state farm and geico, got a lower rate with the hartford. - when i first called the hartford, they couldn't have done anything better. he said were we able to save you some money? i said absolutely and he goes i hear that quite often.
11:42 am
- [matt] not only are people saving hundreds when they switch to the hartford, they're getting amazing benefits, like lifetime renewability. it's the hartford's promise not to drop you even if you're in an accident. - it's a great feeling and a very comfortable feeling to know that i'm not gonna get dropped. - [narrator] drivers 50 and over can save hundreds of dollars when they switch to the aarp auto insurance program from the hartford. to get your free, no obligation quote, call the hartford at the number on your screen or go to the website on your screen. - [matt] did you know that the hartford has the only national car insurance program endorsed by aarp, in fact, they've been working together for over 30 years. not an aarp member? the hartford can help you join in minutes. - i would recommend the hartford to friends, relatives, anybody. - certainly when we needed them, they were right there for us. it was pretty impressive. - [matt] see for yourself why 96% of customers recommend
11:43 am
the hartford, based on their claims experience. - try the hartford, if you don't, you're missing out. - [narrator] to get your free, no obligation quote and see how much you could save, call the hartford at the number on your screen that's the number on your screen. or go to the website on your screen. the buck's got your back. stuart: i know that. at least i'm told what it is. that is headlines by drake. i believe the man is actually in the headlines. deirdre: he is in the headlines. he has signed an agreement with sirius xm and pandora. he will have his own dedicated station. he's number one most streamed male artist in the u.s. he's going to have a dedicated station of curated music.
11:44 am
you will hear a lot of drake, you will also hear a lot of curated music. he will also collaborate with other talent so he's going to be like an editor. you will hear his music, then plus what he chooses and then he will be working with other musicians and you will hear it all on that station. stuart: i listen to the beatles channel and the tom petty channel which i can't remember the number of. it's on my preset. another story. this one's for you. bud, and hiu anheuser busch are reporting a falloff on sales of bud and bud light in the states. deirdre: budweiser, bud light brands not selling as well as they used to. millenials don't really dig them. they prefer craft beers, mexican imports, wine, spirits, basically anything but bud and bud light. this is really hurting inbev. what they are doing, where they are seeing sales, increased sales, is in latin america. brazil, they have been strong. overall the business is still okay but the u.s. is the weakest link in their picture right now.
11:45 am
stuart: poor bud. back to the mueller hearings, please. this is my opinion. i think it was a real disaster for the democrats. bret baier is with us, host the "special report" on the fox news channel. that's my opinion, bret. i know you're laughing. what's next? >> listen, you share your opinion yesterday on set with chris wallace, fox news sunday, who said the exact same thing, total disaster for democrats. i think there are a lot of people who feel that way and not just republicans. i think there are democrats, laurence tribe, harvard law professor tweeted out he was dejected. michael moore, the president retweeted his tweet about how the hearings went. i think there is this feeling that it did not deliver, for all the folks who were saying no, no, it's about the substance, not the optics. before the hearing, we were hearing how this is the movie, this is animating the report, this is to show the american people what's really there. there were some moments there
11:46 am
where mueller laid out the russian interference and how important that was to deal with, and i think lawmakers have not effectively dealt with it as of yet, as far as protecting for 2020, but next steps politically, i think it's a good day for nancy pelosi yesterday was because she gets to fight off the impeachment call from the progressive side of the party. stuart: may i suggest that next is inspector general's report which i think, again, see what you think, i think it turns the tables, because this is not the republicans or the president under investigation. it's the democrats and what was going on before, during and after the last election. >> i agree with you, it will plow new ground and i think there will be some media organizations who are going to have to explain it to everyone because they haven't really been covering that side of the investigation. i had congressman ratcliffe on last night on "special report." he said he expects it soon after labor day.
11:47 am
we have been hearing may, june, july. now we are getting soon after labor day. we'll see. i think there's a lot there that has to be explained about the origins of the investigation. stuart: i will pick up on something which i think you said yesterday in your coverage, and that is the juxtaposition of adam schiff and elijah cummings on one side of the screen, looking like they were attending a wake right after the mueller hearings, and president trump looking exuberant and triumphant. i think that captured the whole thing. awake and a win. >> i think the president definitely did a victory lap. he was emboldened. he tweeted throughout, then before he got on the plane for west virginia, talking to reporters on the south lawn, i think he was emboldened by what he saw as not delivering on that hearing. i do think there are some moments in there that potentially are problematic and
11:48 am
that is, you know, the russian side of it is an alarm bell for 2020, that congress has to deal with. stuart: well, no surprises, bret. i shall be watching at 6:00 tonight because i want to pick up some more opinion from you. you know how it is. >> i do. stuart: thank you very much for joining us. >> have a good one. stuart: derrick morgan played almost a decade in the nfl. he could have had one more really nice contract but he walked away at the age of 30. we just found out that he's an early investor in beyond meat. maybe that's why he walked away from football. anyway, he's on the show and he's next. ♪ i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis.
11:49 am
is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪
11:50 am
hey! i live on my own now! i've got xfinity, because i like to live life in the fast lane. unlike my parents. you rambling about xfinity again? you're so cute when you get excited... anyways... i've got their app right here, i can troubleshoot. i can schedule a time for them to call me back, it's great! you have our number programmed in? ya i don't even know your phone anymore... excuse me?! what? i don't know your phone number. aw well. he doesn't know our phone number! you have our fax number, obviously... today's xfinity service. simple. easy. awesome. i'll pass.
11:51 am
11:52 am
stuart: wow. wait for it. 30-year-old nfl player with us now, he announced he's retiring from football. he played for nine years. he could have signed on for another very lucrative contract, but he didn't. no. he retired. who is he? derrick morgan. that's the man, and he's with us now sitting right next to me. derrick, welcome to the program. >> how you doing, man? thanks for having me. stuart: this is a financial program, okay? be honest with me. why did you retire at the age of 30 and turn down millions and
11:53 am
millions and millions of dollars? >> you know what, 30 is like equivalent to like 62, 63 in normal years in the nfl. right? so i played nine years, i've had nine surgeries over my career. so it's been shoulders, knees, hips, thumbs, so i have always said i was going to play as long as it made sense. for me, i played out both of my contracts, i wanted to leave the game on my own terms. i've done well with my money, i don't have to play, so i think the stuff off the field is becoming way more purposeful for me and stimulates me a little bit more. stuart: adrian peterson, star player, he's $5 million in debt and he's being sued. >> yeah. stuart: he handled his money very differently from yours. >> yeah. stuart: am i right in saying you put your money or some of it into these opportunities zones? is that correct? >> yeah. stuart: put your money in, you invested? >> yes. we are creating a fund, i mean, you bring up adrian peterson. i think we are targets as athletes, everybody sees us as a prize, so there's a lot of people that are out to get us,
11:54 am
so it's hard to kind of put your trust in people, but like i think it's all about surrounding yourself with the right team and so that's one thing that i have been able to do throughout my career. i went back and got my mba and i have just been very intentional about how i increase my networking. when you talk about opportunity zones, i mean, i look up everywhere i ever lived before college is an opportunity zone. so as athletes, we are influencers, the community looks at us as like the pinnacle and they listen to us. so to go back into these areas that are underserved and marginalized and be a voice and advocate for that community, is what we are trying to do. so i see me and athletes and influencers as being an intermediary from those who have the investment dollars and want to come into these communities. stuart: but you are putting your money where your mouth is. >> of course. you have to have skin in the game. stuart: now tell me about beyond meat. >> you couldn't wait. stuart: you are an ambassador, a brand ambassador for beyond meat? >> yes. stuart: you got an investment in them? >> i got to give all thanks to my wife.
11:55 am
stuart: i don't care. you have an investment in beyond meat. >> we are brand am bass doobass we have an equity position in beyond meat based on services rendered. stuart: you made a fortune. >> it's done well. stuart: you made a fortune. you made more money in beyond meat for heaven's sake than if you signed another multi-million dollar in the nfl. you have. i know you have. you have. >> we will talk about it offline. stuart: we will. are you a vegan? >> yes. me and my wife are both plant-based. been for about two and a half years. stuart: i'm learning so much today. >> i will share some recipes with you. stuart: you have been vegan for two and a half years? a football player? what are you, a linebacker? >> linebacker. yeah. 260 pounds. stuart: and you don't eat any meat? >> no meat, no dairy. amazin amazing. my wife is a chef so she makes it easy but i will say after i tried it for the first six months i got my bloodwork done, everything came back spot-on, my energy was great, i was sleeping better.
11:56 am
i became a believer. stuart: would you care to come back on the program? you are a constant source of revelation. >> yes, any time you need me, i'm here. stuart: great guy. derrick, thank you very much indeed for joining us. >> thank you for having me. stuart: shake the hand, man. pretty good. more "varney" after this. where are you? more "varney" after this. pick a camera. ♪ is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. every day, invesco combines ideas with technology, data with inspiration, investors with solutions. because the possibilities of life and investing are greater when we come together. ♪
11:57 am
but how do i know if i'm i'm getting a good deal? i tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if i'm getting a great price. this is how car buying was always meant to be. . .
11:58 am
stuart: president trump is speaking now at the welcoming ceremony for defense secretary mark esper. if he makes any headlines we will get them for you real fast. that's a fact. now quickly to the markets. we have a loss of just over 100 points for the dow industrials. about 80 odd points is accounted for by boeing which is a dow stock which is down 3 1/2%.
11:59 am
you heard this story before, boeing, dow stock, in trouble, down it goes is the overall market, the dow industrials. there you have it. we're almost at the end of the show, i'm inclined to ask what was the favorite guest of the day. i know exactly who i would pick, deirdre? >> derek morgan. what a impressive guy. be at top of your field have, a strategy. successful investor giving back to his community. seems like a trifecta. stuart: literally five minutes before he sat down on the set with me, that i found out the man had invested in beyond meat in the early days. he is a brand ambassador for beyond meat. that he is a vegan. >> he says, he gave us his weight, 260-pounds. professional athlete. former professional athlete. all plant-based. stuart: that is terrific advertisement.
12:00 pm
veganism. >> i feel better. sleep better. i guess i do have a give up a steak. stuart: i'm inclined to think about it. >> that is turn of phrase. inclined to think about it. stuart: time is up for me, neil it is yours. neil: tough day for carnivores. president trump downplaying bob mueller thing, playing down the economy, a selloff in the eyes of one brokerage house could be in a matter of weeks. what others are looking at and might be missing. north korea acting up, a couple launches might technically violate what they promised what they would never do. they say that is not the case. could the president let bernie madoff off the hook. the famed embezzler is in jail for 150 years. he is seeking relief from the president. no indication from the white house what the president might do.

15 Views

info Stream Only

Uploaded by TV Archive on