trills of the points. is time for "varney and company". thanks for being with us on "the opening bell". tom sullivan is in for stuart varney. tom: stuart varney is back tomorrow. isis gets stronger and libya holding a victory parade through the streets of ramadi, the obama administration playing it down. stocks hit record levels but bank of america says you better buy gold and get cash. how is that for a warning? hillary has deep connections to silicon valley getting paid hundreds of thousands for speeches to the tech community and turning around and attending fund-raisers at their homes. gop candidates kristy and paul opposite sides of the nsa spying debate. judge andrew napolitano will weigh in. president obama has a plan to save the honeybees' but with more than 14 government agencies

involved talking about bureaucracy. "varney and company" is about to begin. ♪ tom: the dow in record territory after sending the all-time record high yesterday, we are up 9 points on the dow, same for the s&p 500, that is going higher as well so new records for both of those. walmart is one of the dow stocks you don't see moves like this from walmart very often, down 4% right now despite higher sales spent a lot of money on worker pay and building its web presence, profits down 7% as a result and the stock you can see it is heading lower. home depot another dow stock a lot of people spending money on their home and garden this spring doing very well at home

depot of 7% the stock was up now is back on the price of oil that there is going lower, $57.80 a barrel, gas today $2.70, the national average for a gallon of gasoline. hall of fame quarterback jim kelly, an amazing story of survival, he beat cancer, he and his family are here to talk about it. 10 minutes from now. is not every day you hear a warning like this from banc of america, the ultimate safe-haven get into cash. it will be a big summer for stocks. let's bring in scott shellady in chicago. you bag selling, buying more stocks the your going totally with gold now because of banc of america? is that the plan?

>> maybe they should deserve some kudos because a lot of big banks, being chicken little calling for the end the high, too close or proved right. acquired its all-time record high and no one has been willing to celebrate because everyone is worried about the party ending the reason it may end is people might wake up to the fact these markets are here because of assets being purchased by big federal banks that is the true story. nobody wants to celebrate it. at some point in time better have a chair when the music stops. tom: the old axiom about don't bite the fed not only our fed but that is around the world, nothing has changed, still doing exactly what they have done last

number of years. >> they are trying to get some sort of yield they're too and comfortable and have a false sense of security because everybody knows the banks will be there to buy these stocks on anything. and as long as that is the case you get lulled into more of a sense of security. bank of america is saying it might be summer and i just say this. we can't continually have all-time record highs all time bad numbers from the u.s. government. that is the simple measure. >> one of them has to be changed. tom: harry dent close low stock market decline down 6,000.

and the top of the hour, 9:00 pacific. big deeper into walmart, walmart is an economic indicator -- cheryl casone is here. >> no-confidence vote from the american consumer about the u.s. economy they are saying they would rather pay down debt save money and go shopping at walmart of all places. walmart has been marketing themselves as the low-price leader they're going back to their roots we have the cheapest items, come and get the best deals. americans in the last quarter said we are not going to bite on that. is disconcerting picture we are getting from walmart. part of it was currency international things, not so much worried about because that changes but the psyche of the american consumer is the most worrisome thing here and the ceo

of the macmillan said we did customer surveys and ask what do you want and they said gas prices are lower $2.70 a gallon, you just showed the viewers that and we are getting tax refundss but we will save money instead of spending money at walmart. >> they announced the pay hike for everybody. >> they are trying to pay their workers more and good for them, trying to take care of their employees. that is a positive and a positive message. people buy things that walmart the numbers are not going to work you will see stock continued to fall like it is today unfortunately. tom: meantime abc entered george stephanopoulos gave the clinton foundation $75,000 in donations. first it was 50 and then 75 didn't tell the audience or abc, kept it a secret before interviewing clinton catch dr. peter schweitzer.

listen to this. >> do you have any evidence the crime may have been committed? >> we have an investigative work and found no proof of any kind of direct action. there's no evidence that hillary clinton got directly involved in this decision. any evidence that she intervened in this issue. >> democrats have said this is indication of your partisan interest, you must work for president bush as a speechwriter, funded by the koch brothers. tom: joining us is peter schweitzer. before i start growing you want you to know i have given nothing to the clinton foundation. >> good to know. >> i haven't given money to anybody. this is all blown up and now. what is your reaction? >> i was stunned when i heard about these donations. it is so reckless that if my research had come to me and said we would investigate whether george that an awful is said and to the clinton foundation i would have said no way. it is a very troubling issue

because it goes to the inherent issue with journalism which is you want to have the agenda be the search for truth not a hidden agenda george stephanopoulos not only giving $75000 but giving a lot of his time to the clinton global initiative raising all kinds of questions about his impartiality and what his motives were in that interview. tom: a lot of opera as i say we all know george stephanopoulos was a clinton guy. is there any surprise? as a journalist you are more concerned about the fact that it is not ethical. >> for me it was he was a clinton guy. when i went on the interview i knew he would ask tough questions. i got them from chris wallace on fox. i expect those but i assume that was the previous chapter in his life he had left the clinton fold politics was known and anchor at low and behold we realize it is not the past, it is the present. he has an ongoing relationship with the clintons that is

financially and in terms of time. not a question of him in the past being a clinton guy but what he's doing now as he covers the story. >> the new distillery headline, $11 million she has made since 2014 known speeches, the$.2 million from the tech industry and eric schmidt, mark zuckerberg instrumental in getting president obama elected and now she has the same ties in silicon valley and issues with this? >> if you look at speaking fees we expect 6 politicians to hit the lecture circuit and that is fine but when you see vastly inflated fees it raises this question, are the speaking fees or what are called influence payments? are you paying somebody a lot more than the market will bear because you want to have a strong relationship, put money into their pockets? that is the concern i have. >> the answer is obviously yes. i tell you if you give me just $10000 i will always answer

your questions. but this is the sad part about money in politics. it is a matter of degree getting bigger and worse. >> it is and we expect our politicians to have some sense of restraint and some of them do. when you look at the numbers with the clintons you're talking speech in, over $100 million. we are not talking about putting away 5 to $10 million for the grandchild, talking about a pattern of behavior that has continued and it is the timing of those payments. bill was giving big speaking fees when hillary had issues on her desk of relevance, direct relevance the people who were paying bill clinton. now you have people in the tech industry and a lining up to pay hillary much more than the market will bear because they think she might be president and it is worth while making this investment to have a good relationship. tom: it smells very bad and everybody has the same olfactory nerves on this one. always good to see you, thank you for coming in.

apple in the headlines again. lauren simonetti hazmat and more in case you missed it. >> has apples credits tv plans? wall street journal is reporting after decades of research apple has failed to find a compelling reason to break into the competitive tv market. is working instead on an online tv service and is redesigning the apple tv box for the first time in three years. the plan is to show those items we will show you that. another american company moving overseas, buying pharma for $8 billion. if you recall it moves its headquarters in pennsylvania to ireland last year wanting to payless in taxes but it happened before the obama administration enacted rules making such moves more difficult but since it is already overseas is taking with it yet another american company, based in new jersey.

shares really nice popping 3%. check out netflix stock. it did hit a new high today 62850, not far from that now. analysts are encouraged by a piece of netflix's international expansion but back here, netflix subscribers are sharing passwords, numbers are the same for amazon. tom: you and i would be one password, they don't get two customers out of peter: >> i use your netflix account -- so they are -- tom: they will figure out where around that. up next, hall of fame quarterback jim kelly a cancer survivor and his fight inspired his daughter to write a book. the whole kelly family are here to talk about it and a reminder "varney and company" moving to us at noon time and getting supersize, 9:00 a.m. to new eastern time starting june 1st

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tom: narrow range for stocks but possible little higher, all-time record high set last night we are above that in the new territory almost four points on the dow. big drop in oil down about 3% as oil prices going lower again. look at the home builder's after much stronger than expected report on april housing starts and building permits even though much of it was apartments still a lot of single-family homes in fear. also homebuilder's doing well

depending whether they build apartments or single-family homes. different story and urban outfitters after reporting disappointing sales numbers. stock is down 17%. nfl hall of fame quarterback jim kelly cancer survivor legendary football career, jim's daughter erin is author of the new book kelly tough, lived courageously by faith jim kelly joins us with his wife jill and his daughter erin. i don't want to talk to you. i want to talk to the author. >> i don't blame you. tom: what made you write this? >> after watching all my dad went through through cancer and brother who suffered through his life, the weakness i saw in them but the strength i saw displayed through god and how we were able to get through this together as a family through our strength in god. tom: are you a writer? do you like to right? is this something you did not know you had? >> i would say i am more telling my story.

this is my heart written on paper. to encourage the reader going through their own struggles their own stories. tom: jim i said this before we started. when i first met you a few years back all you guys, you are quarterbacks, you are big. you are a much bigger man because when you are on the football field you are out there with a bunch of other big guys. you look a lot bigger. you have been through hell and back. >> pretty much. going through cancer is no fun. 65 pounds i dropped. the thing is my life has been a roller coaster. going into four super bowls and not winning any and having a son born on my birthday valentine's day, he was diagnosed with the fatal genetic disease and passed away at the age of 8 years old and my battle with cancer.

i am always faced with something. is a matter of keeping my faith and staying strong and realizing how people have told me how much of an inspiration i have been to them but i want people to know how that picks me up and makes me continue to fight. with my daughter's book kelley tough, the older sister of a little brother who suffered and now both her daddy and her brother, been through a lot but got to keep the faith. tom: in better or worse sickness or health. >> exactly what marriage is. ultimately you would agree that without our faith for marriage would have fallen apart a long time ago probably before hunter's -- tom: did the faith come forests are did you acquire it? >> because of the drastic as it was a year-and-a-half after he was diagnosed at i started to seek after the things outside i understood to be real because there was no cure no treatment

no nothing that could help hunter and i knew god was there but i didn't know him and now i do and we are different people as a result. tom: you give credit to god for recovery? >> without a doubt. i had my faith prior to but more so now because when this first came out that i have cancer, i told my wife i don't want to let everybody know. let's fight this internally, you need as many people praying for you as possible and it -- to take me long to realize my wife was right because i didn't realize how bad it was. i knew what every it is i am going to be it period. that is how it was but i needed people to pray for me. i needed everybody descent well-wishers and encourage me to keep fighting because the more people said they inspired me the more i want people to know how much they inspire me to keep fighting and never give up. we were always taught to get up, you will be all right stay

tough. i always knew that there are times in all our lives when we need to do something and i had to drop to my knees and realize i can't do this alone. tom: you can do the locker room talk but put your head on the pillow at night you got to get some help. >> you said that exactly and i have been blessed to have great family support not only my daughter my wife and my other daughter but my brothers people in buffalo. people all over the united states i don't care if you're a golfer and a raiders fan they were pulling for me because there are so many people who set i was an encouragement to them. i never would have gotten through this without everybody coming together as one big team. tom: you are an inspiring guy and you have written an inspiring book. if people want to get inspired by your family. thank you for coming in. meantime, a hard turn here but honeybees you didn't know they were so important. problem is we are losing them in

record numbers and president obama guess what he has a plan to save some. all is going to take is 14 government agencies and a lot of bureaucracy to save the honey bee. we have the full story after this break. new york state is reinventing how

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tom: a headline that hits close to home, retirees carry more student debt than ever before because they are helping kids and grandkids go to college. what is going on here? you want to help out the kids that got to retire. ashley: talking about 65 to 74 that age group 6 times more education debt than 25 years ago and because of that they can't retire they're working in to their 70s. tom: why don't they tell the kids to take care of their own? keith ablow that would solve it. tom: last week we brought you this story, the report that 40% of honeybees have died over the past year. the theoretical physicists michi michio kaku. >> we are the top of the food chain and forget the fact that it wouldn't take much to

dislodge us from the top of the food chain and pollination is at the bottom of the food chain. so many crops vegetation depend upon index a-insects for pollination. tom: president obama has a plan that involves 14 government agencies how many lines will be set to stand in before they get help? i think this is important but 14 agencies? why not one? keith ablow it could be worse than the dmv. for plan b. whatever you call it, it will cost 82 million bucks for the next budget year to get this underway. we are talking about the department of interior but housing and urban development, department of transportation they are all waiting in. they want to give more land to be so they can start pollinating and regenerating the population. tom: give it to the agriculture department and they will take care of it. isis is in the news, they have seized control of the iraqi city

of ramadi and the state department calling it a setback. is the government taking the threat seriously?

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. >> 18,319, we set the all-time record at close, so this is good. strong dollar, oil slamming down about #%, almost 3% on oil prices, and gasoline, it's 2.70 national average for one gallon of gas. in the meantime isis, they ceased control of the iraqi city and our state department calls it a setback. roll the tape. >> we've always known that the fight would be long and difficult, especially on the province, and so there's no denying that this is a set back but there's also no denying that the united states will help the iraqis take back. >> really? well, is our government really taking the threat seriously? chris joins us from dc. what are we going to do differently from what we've been doing chris and what we've been doing hasn't been working. >> well, look, i'm no expert when it comes comes to how you defeat a terrorist

organization, but i can tell you this. that in washington, this is causing a lot of political problems. this is getting to be a big headache because the administration has one narrative that it wants to put forward, and these are bumps that the president likes to say, you're going to have some bumps on the road to progress and this is going to take a long time, but we're going to get there as he likes to say the arc of history bends. however, when you see things like dozens and dozens of american marines sacrifice their lives to pop up the beginnings i have republic, when you see that gone and under the black flag of isis, it prosecution political untangible to would ho that together . >> does the administration care i guess this is a simple way to say it, because they do some air strikes every once in a while. what are they doing?

are they really taking this seriously? >> well, look, i am sure. i don't know the inner working of the president's mind, but i am sure that he didn't want them to fall. but there is a few different discussions about isis, about iraq and about syria that are taking place and one of those is the administration's view, which is a came the policy, you push them back, cut off their funding you use intelligence to interrupt the flow of their activities, and in time you're going to -- if not crush isis, but it will whither away, and that's the president's point of view. and if you do more, you will make it worse. now, the point of view from the neoconservatives in the republican caucus and john boehner today is out demanding a new strategy. he says to the administration, you have to tell us what the plan is because this plan isn't working is that -- and lindsey just called for it.

10,000 troops, maybe more in the region to fight back and to start the redeployment of troops into that region. and then there's the third point of view, this is the rand paul more libertarian point of view, which is you've got to do what it takes to knock these guys out, and that means large-scale aerosol then you've got to do that and they will put you to where isis is cropping up in africa and north africa and across the region as these guys become the rallying point . >> which of those three, is there a winning argument, a larger group of arguments than the others. >> the president is the larger, the congress talks a lot about foreign policy, but they don't do anything. this iranian nuclear deal shows, congress likes it best when they can jaw bone and make as much noise as possible

>> chris, always great information. thank you chris. >> you bet? >> let's stay on terrorism because chris christie calling for a stronger intelligence gathering. roll the tape. >> listen i'm with what makes sense to protect america. and there is no reason why you can't do the types of things that the nsa and other intelligence agencies are doing within the law and make us much more effective in terms of protecting the homeland. . >> all right., judge is here. can do more within the law. >> i'm surprised that the governor who is an intelligent and lawyer would use that phrase within the law. did he forget that this would sound illegally the highest court in the land exigency ago, and the congress is scrambling with the perfect storm, the court has just

invalidity the statute. the section on the statute the operative section itself. the majority leader of the senate wants the old statute extended whether it's unconstitutional or not and rand paul and from that unholy but my point of view offered the filibuster any spying that is not consistent with the fourth amazement. >> well, let's bring that in because rand paul does vow to filibuster that this, and we have a tape of all this, do we not? >> i will do everything i can to try to add here to the course. the courts have now said that they should stop immediately. >> he is on very sound constitutional grounds, and he may pick from the senate that the act that presently exists,

the john mccain group that the house enacted and the lib aaron republicans and the democrats, to be consistent with the fourth amazement. they describe that, then it will expire on may 31st, and we will be left with a system whereby the government has to get a search warrant. right now when the government wants to listen to phone calls, it goes to a secret court and says we want an organized for tapping the lines, listening to the phone calls of everybody in -- fill in the blank. zip code, area code, or all of verizon's customers. that's 125 million customers. that's the problem with this. >> here's the thing. >> you're talking as a judge. and these are police politicians and

chris christie, he's a lawyer, he knows what he's talking about. i'm selling safety here. >> yeah. >> that's what i'm selling. >> yeah. he is appealing for votes from a conservative base that is skeptical of him but he says he's running for the republican nomination as a conservative and in fairness to him he's not arguing this case in front of the second court of appeals he's appealing to new hampshire voters, and they may not care, but if he becomes the president of the united states, he has to keep us free as well as safe. if he keeps us safe but not free, he will not be doing his job. >> well we're going to have as always -- we love your comments on this, and rand paul, i know you like his comments and, by the way, on this show, next week senator rand paul will be here. so you want to stick around for -- and tune into the show next week rand paul will be here. judge, thank you. in the meantime we have

breaking news. a federal judge has rejected the state department's plan to release all of hilary clinton's e-mails in one single batch in 2016. instead judge ordered plans -- or plans to order a rolling release of the e-mails given the state department one week to give a timetable of the releases of those males. >> up next, will he get a pass like other members of the liberal media?

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>> well, let's take a look at the irish drug maker endo, it is up today they're buying pharmaceutical, and that gives it a distinct advantage. >> yeah. with my this is an 8 billion-dollar deal and there's a tax benefit ask a foreman all this, because a company when you talk about what they were paying in their taxes last year, according to regulatory filings 41% of their profit went to taxes. and analysts are saying this is all reported in the wall street journal that once it goes through the combined taxes of the new company will only be roughly 16%. so what this gets to is the no need tax reform, the united states, even the president is called for the corporate tax rate to be lowered, he did that last year when this issue reader its head and it was

used as a campaign slogan, the democrats were saying that this kind of tax for moving overseas is unpatriotic is what the president said. >> right. >> and republicans he's retired, but congressman camp, used legislation to reform the entire tax code . >> and he's retiring so that whole revamping is under the window. >> yeah. >> and they're consolidating right and left -- it is about where. >> right. >> but it's also about the industry is consolidating. >> yeah, but burger king, when they bought out of canada and did something similar to this, that wasn't about pharmaceuticals, what's going on here is that you have in foreign lands tax policies, which tax simply put they tax the income you earn within the boundaries in the united states we tax everything.

>> right. >> if you're a company in the united states, but you sell in pakistan, you get taxed for what you sell in pakistan. >> right. >> and the irish are smart. >> very smart. >> they've got -- stopped a lot of brain drain and brought a lot of companies to ireland because their low tax rate. >> yeah. >> medium george stephanopoulos in hot water for not disclosing donations he made. and fox news contributor katie joins us. >> hi, katie. >> good morning. >> so you've got -- your take on this is that liberal anchors get a pass, but conservatives do not. explain. >> well, there seems to be a column i read today of very high status liberals getting a

pass, and i used george stephanopoulos as a example but i also used david gregory as the previous for george stephanopoulos in the sense that you'll remember in 2012 david gregory number of us washington d.c., and he was waiving around a 30 round ammunition magazine to prove a point of gun control now that is illegal in washington d.c., but despite the fact, he got a free pass not only from the police, but nbc and now you fast-forward into 2015 and going into the 2016 presidential cycle and now we have george stephanopoulos saying that he is fair and despite his ties to let clinton foundation an objective journalist, and he doesn't have the journalist ethic to disclose his position to the viewers, and i think that's a serious issue. >> well, it's a serious issue regarding george stephanopoulos, new york post

has a cover page today about the fact that he meandered a $105 million contract, the contract with abc. fairly fresh. so that means abc audibles would have to pay him $105 million if they boot him out the door. do you think they're going to boot him? >> i do not think they're going to. we haven't seen any push the coming down from them. he gave his apology, and it was at best when he says, look i donated this money to save kids and to help the environment and to help poor countries and basically saying if you are questioning my donations to the clinton foundation you're a terrible person. but the problem isn't the donations, the problem is that he is acting as a major anchor on a network that claims to have credibility and credit he couldn't do a basic journalistic thing and that is to disclose the conflict of interest before he did this interview about the clinton

foundation itself. >> yeah. we know we're where the politics lie, we just thought he would do a better job. >> maybe that's it. >> thank you katie. good to see you. >> thank you . >> up next it's been called sundance for the troops. the annual gi film festival is being held in dc this memorial day weekend. more than 60 films, all of them honor our troops. we'll talk to the festival festival's organizations after the break

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h annual sundance for the troops celebrates movies by for and about the military. and this year it features more than 60 films from all over the world. joining us no is gi film festival laura and her husband brandon millet, and thank you very much for

joining us, and tell us about this festival. >> well, you called it sundance of the troops, and that's a great description. we heard another one this morning called full metal film fest so whatever one you like you can choose that. the bottom line is we're the only film festival dedicated to the troops, we have 60 plus films, celebrity meet and greets, and just a really great experience for people, and if they go to giff15.com, they can buy the tickets and see all the great entertainment we have for the week . >> where are you physically going to be? where in dc? >> well, don't even we're going to be at the canada embassy, but we're going to be in fairfax virginia, so you can buy tickets at the door or online, and we're going to have a great lineup for everyone who wants to come. >> these are from all over the world, so it's not just u.s. made films. what have you got?

>> absolutely. well, you know you mentioned 60 films but we had about 270 films submitted to us from all over the world and our international event is going to be focusing on six countries, we're going to show six films in those countries but every year the number of submissions goes up, the content gets better and better, and does why where we have the most diverse lineup we've ever had, we have comedies dramas, historic documentaries, you name it, so this is a true experience that really can't be described. so if people just buy a ticket and watch one film, i guarantee you're going to want to stay for the rest of the festival . >> you know, if you think about it, ronald reagan and jimmy stewart that's what they did. they went into the military and made films about the military that was positive. >> absolutely. i mean there was a time when a margin of the people in the

society knew someone who served and now we're in a situation where only 1% of the society is serving and so that's why we started the festival to challenge that image and show that, you know, we need to have a better betrayal of g i's in the military and connecting the veterans to society which is what we try to do, we also try to help veterans who are coming out of the military and get into the industry, helps them get jobs about the gi experience. >> we wish you all the success this weekend in dc. brandon and laura, thank you both. >> thank you so much. >> thanks for having us on. >> up next the pneumonia israeli newspaper says that iran gets a nuque the middle east should git one too, and the what is the obama administration doing about it?

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>> fresh hour of varney starting right now and here are the headlines. a leading israeli newspaper says if the obama administration let's iran get a nuke, saudi arabia should do the same thing. the nuclear race has started and the white house letting it happen. and radical islamic terror taking hold of libya while they put on a victory parade in iraq, and didn't the media just stopped showing video like this, and they say you should get into cash, buy gold, we have a market fair just minutes away. and apple says it won't make a tv set. will not. can't compete with samsung. we'll have someone that begs to differ. hour two of varney starts right now

>> well, let's check the market the dow hitting another high, the dow hitting 312, so we're still in record territory here, and big worker pay and web expenses taking a their profits the stock is down 4% on walmart home depot, a lot people there thinking they have good reports, people are spending money on their home and garden sales are up 7%, stocks were up earlier but basically flat today. and oil prices down about 3% right now. oil has been down five days in a low. longest losing streak that we've seen oil in about two months. and gasoline prices $2.70

that's the national average. bank of america saying buy gold and get into cash because it's going to be a bad forum stocks. let's bring in our favorite harry from tampa, and what's your reaction to bank of america, harry? >> we feel the same for somewhat different reasons, i think the demographic is set to in 2015 like 2008, well now it's the affluent household's term, so now everyone is talking about oh, is the fed going to raise the rates? we've been saying we're not even going to get there we're going to be in a recession likely by the summer be so i have a similar forecast, at least a to% correction in stocks this year, and i think this is the likely the beginning of a bigger correction 60 or 70% in the next few years. so i agree getting gold, but

we've been predicting gold is going to continue to slide to $700 so i don't like gold to too long, just protect your gains after one of the greatest bubbles in history . >> you know, harry we love having you on, ray he's a really sharp wall street guy. >> yeah. >> people really love him. >> yeah. >> he's saying, don't worry evaluations still in normal territory, i says not a major driving force of prices, and it's actually less bullish than the publically.com, you know, period. and, you know, people are saying too harry that, you know, you can call it a recession long enough that automobile r even scaring the widows and the orphans long enough that there's been a down term, so based on your track record of calling a down term that hasn't happened yet what douse in response to that. >> well, you know, we are in an unprecedented time where governments all around the

world are throwing the kitchen sink not even the most liberal economist would be up to $14 trillion in money infringement so governments are just trying to prevent something. but we warned people. bubbles build, but they burn twice as fast and in two and a half months the market was down 40% so better to get out than to get whacked by that 30 40%, and i think that could start this year. so i think it's better to be safe than sorry. nobody has good forecasting tools today because the government is taking over the markets. >> yeah. >> and if merlin lynch was that good, he would be in -- >> thank you so much for joining us today. >> thank you . >> in the meantime the wall street journal is saying that isis is growing thanks money

and resources coming in from syria. and isis has always ceased the iraqi city of ramadi, they're parading through the streets of that city. state department calls this a setback. it looks like a race out of town. in the meantime house speaker john boehner, he says president obama needs to start over and come up with a new strategy to fighting isis. joining us now with us, foreign policy director at the heritage foundation. do you agree with john boehner, steve, that the president needs to start over or is it late in his term. >> well, i don't know if we need to start completely over, he deferential need to adjust the strategy and its execution as we go forward. . >> what is that? i mean at this point he seems like he is doubling down on just staying with the air strikes, most military leaders that i've interviewed that

said that's not going to work. what douse? >> i would agree with those leaders. air strikes alone seldom ever work. they're not working here. we need to have a lot more of those air strikes but we need to put some boots on the ground. not big conventional units but our special operators embedded with these iraqi forces to stiffen their spines to help them in impact to control those air assets. if we do that, that's sort of an in between step that i think we need to try before we consider either giving up, staying where we are, which is not working or go into something much bigger . >> well, instead of the in between we talked to chris last hour, and he was saying there were three different ideas floating around dc, and put me r one of them is just go all in, if you're going to do this, large mass group invasion, do it in a big way

or get the heck out. fish or cut bait. one of the two. are you hearing that? is there any serious talk about that? >> some people bring it up. it's mostly people who don't have to go do that thing or to sell it to the american people. i don't think the american people rdr to do that. they're not ready to cut and run either, though. they want to see our government act responsibly and get this under control. but they're not really ready to send army divisions back into combat. we need to try that center option first . >> all right, thank you steve. in the meantime back to that breaking news, federal judge has rejected the state department's plan to release all of hilary clinton's e-mails in one single batch in 2016. judge is here. this came down as a breaking news about 20 minutes ago. what is this?

>> there about five lawsuits against the state department seeking mrs. clinton's e-mails. some of these lawsuits were filed before the revelation of her husband's server and some since. the ones that were fired before the revelation were generally dismissed because the judges learned from the state department that the e-mails being sought weren't there, one of those has been revived at the application of the state department when it learned that it had been duked by mrs. clinton who first said the e-mails didn't exist and then said, well, they exist on my husband's server but we wiped the server clean. the ruling just a few minutes ago which you delivered as breaking news is a lawsuit filed before the awareness of the use of her husband's server came out but it's under a federal judge who has the authority to order the state department to produce

them whether mrs. clinton has given them to the state compassionate or not. now, what can they produce that the state department hasn't given them. >> right. >> the judge has had the power to have the server to bring it to the courtroom and he can have people go over it. >> now we're talking. >> and now the committee is without the authority to do that but any one of these five federal judges, we just heard from one this morning each of whom have the -- >> this is huge. here's the problem i had with the breaking news was that okay they're going to release the 55,000 e-mails. yawn. because those are the ones that have been scrubbed and cleaned and dissected -- they're fine. >> can i tell you how big this is? mrs. clinton is not in the case. there's no lawyer in the courtroom representing her. it's just the people looking for the documents and the state department itself. >> so do we think -- do we

think the judge is going to say you mrs. clinton, you have to for work over the server. >> i would think when the state department starts showing of what it has received and the huge volume of what was erased, the next is going to get the server -- >> all servers. >> there's obviously more than one. >> correct. >> at this point this is the beauty of getting the server is that the forensics people can go in and get the deleted e-mails. >> i wonder what they're going to find. >> it's going to get interesting. >> yeah. >> judge, thank you for joining us. >> yeah. >> here's a big story for you. literally. lauren has a fun prop on set for this hour's version of in case you missed it. what do you have? >> thank you, to me. open the box in one second. we teased this last week and now we will try it. the most american thick burger, it's coming to carls jr. this week, it's a picnic in a bun.

i'm going to try to show you this year. you've got a bun a hot bog a pretty heavy burger tomato, let us, cheese, and potato chips. >> how much fat? >> 61 grams of fat. and more than 1,000 calories. >> basically, i couldn't have one no idea breakfast one third for lunch one third for dinner, and that's all i'm going to eat today. >> basically. >> they want me to eat it on set. i brought my baby wipes over here to help but -- >> do you have a big mouth? >> i have to go, like, half. i would have to do the top or bottom half first. i'm going to try. [laughter] >> i'm having a hard time -- [laughter] >> i'm having a heart attack looking at you. >> you know, them, that's carls jr. andy, the ceo will be in the studio with me tonight. you don't want to miss it.

andy always comes up with these kinds of burgers. >> it's really good. >> i bet it is. >> is leave some for kneel. >> well, wall street journal says that apple has scrapped plans to build a high end television. but one billionaire investor disagrees. we'll see where kert the cyber guy says about this one. and varney is withstanding, three hours of varney starting at 9:00 a.m. eastern time. that's coming up on june 1st

>> take a look at this. netflix hitting another new high. 628 earlier. it's off a little bit from that now 621 but still doing

better. take a look at the apple shares, apple has abandoned like that plans for a tv after almost ten years of research. but billionaire carl still think so the stock is going to go -- well, he said $240, jolene is here with the details, and what's going on with this whole thing about apple tv. >> well, there's a report about the wall street journal says the tv team are now working at different products at apple meaning that this tv set, actual physical tv which apple has not yet produced, may not be hang any time soon, and carl, the investor you were talking about was expecting a 55-inch tv and a 65-inch tv. >> forgive me. i've heard about apple tv. >> yeah. >> and i don't think i'm completely -- >> let's get up to speed. >> completely lost in the tech world. >> sure. >> but i thought it was just a box . >> so right now apple tv is just a box. you're correct. but what the other ambitions were to create an a tv set.

>> the hardware. the thing you put on the wall. >> yeah. exactly, steve jobs wanted a integrated tv set but now perhaps we're looking at software streaming we expect in june to see something with a bunch of tv networks streaming their stuff to mobile devices like iphones >> but they're hardware and software companies. >> yeah. but what makes the siphon so that you think in addition to the hardware is that the design works better than some of the others, at least that is what analysts say this is the moneymaker for apple, this is a big game changer, carl not necessarily commenting on the situation as he calls for a bigger buy back and $240 stock price target. >> yeah. well, that's carl too and -- >> very ambition. >> yeah. >> exactly. >> jolene. >> thank you . >> and right now the organization has ruled that

america's popular country of origin labeling it's viable trade standards. listen to what the president said about this. >> food safety, worker safety with even financial regulations, this -- they're making this stuff up. this is just not true. no trade agreement is going to force us to make our loss . >> are they making this up? >> no. they're not making it up, they were referring to the pacific rim and the european trade deals. >> right. >> but watch this. the world tra trade organization a u.s. law sells consumers, hey, this is where your meat came from, where it was slaughtered, where it was raised now you're not going to get to know about information that could help you with -- determine whether your food is safe. the wto has now said that the rule is in violation of international standards and so they've moved to kill

that -- the loss . >> all right. so i get a hamburger from a cow that was slaughtered in china? >> well, -- >> doesn't the usda have to look at that before it goes on -- >> well, if you see it on the grocery shelf, you may not know where it came from. >> i don't know where it comes from now. >> well, you should because it says on the label. >> really? >> yeah. well, the issue is that mexico has lower food safety standards but now the and did you say canada are saying they don't like this law. >> if i'm a food company oh, man another cost i've got to label all this other -- i like labeling for the new vision stuff. >> yeah. but and canada didn't have any loss, but now they're saying even with the wto, it could unwhined -- which bill clinton fought hard for because canada and mexico are saying you know what? you keep this law in lace,

we're going to start taxing your wine, your ketchup and all sorts of products. >> sure. and the democrats are opposing the president it's like a strange parallel universe. >> yeah. in the meantime a youtube app toward preschoolers parents and consumer groups outraged. deborah has the story right after the break

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insurance and you could save up to $423 dollars. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. >> well, what's going on with oil, it's getting hit by a strong dollar, and now the oil price is down 3% just today. and it's been down five days in a row. this is the longest losing streak we've for oil in the last two months. in the meantime federal that youtube kids app their own app for children does not filter out videos that some parents call explicit and inappropriate. more on this, what's going on

here? >> so google has youtube kids, and the idea here is that all the material has already been screened out and is appropriate for kids under if 5. i'm going to read you some things though, here's a mom and daughter thought she was playing with frozen, you know, the game. >> yeah. >> turned out to be a pregnant elsa and the video asks a kid to grab a scalpel and give elsa a and also there's been videos of every other word is a f bomb in a rap and youtube is trying to screen all these videos out, but the amount of videos that are posted on youtube, it makes it impossible for us to take control. but i think if you're going to say if youtube kids and it's feif and under you either don't say that; right? and then parents pay attention. or then you do it and you make sure it's airtight . >> and i get the fact that we

were just talking about before the break there's a ton of videos out there but instead of saying we're going to go through and clean out, why don't they say we're going to decide who gets in? in other words screen what -- >> well, i think it's google; right? they have something like 60,000 employees and if this company can't do the screening, then you still need parental super vision. >> (motodo no evil. >> yeah. >> they could take a brand hit here. >> well, as you say this coalition of consumer and child advocacy have gone to the consumer and is -- >> they've got too many videos. well, more, next hour. risk and reward coming up 1:00 eastern time. in the meantime the leading israeli newspaper saying if

iran keeps pursuing the nuclear program israel should help the saudis get a bomb of their own. a leading voice in the jewish community responds after this but first two accept so he does of jamie colby's hit show strange inheritance tonight 9:00 eastern time right here on fox business network. here is a sneak peek. >> nancy powers is looking to unload her strange inheritance. >> will it fit in an suv? >> i don't know. >> it was overwhelming. it was just falling out of closets and curbards and. >> it was just amazing the amount of items that he had. >> he wanted a comprehensive collection that had every aspect of u.s., military life

>> we have breaking news for you hillary clinton is taking questions on the campaign trail. yes, asked about her income making millions in speaking fees listen to this from earlier. >> and we're very grateful for the opportunities that we had, but we've never forgotten where we came from and we've never forgotten the kind of country that we want to see for our

granddaughter and that means that we're going to fight to make sure that everybody has the same chances to live up to his or her own god gwinn potential. so i think that most americans understand that the deck is stacked for those at the top and i'm running a campaign that is very clearly stating we want to reshuffle that deck. we want to get back to having more opportunities for more people so that they can make more out of their own lives, and i think that is exactly what america is looking for. [inaudible] >> your relationship as the secretary of state -- report at this morning that you exchanged self e-mails and should americans expect if elected president you would have that same type of relationship with old friends that you've had for some long? >> i have many, many old friends. and i always think that it is important when you get into politics to have friends you had before you were in politics website and to understand what is on their minds, and he's been a friend of mine for a long time opinion he's sent me unsolicited

e-mail which is i passed on in some pin stances and i see that is part of the give and take about when you're in the public eye, in official position i think you have to work to make sure you're not caught in the bubble and hear from a certain small group of people and i'm talking to my old friends whoever they are. [inaudible] >> secretary clinton -- secretary clinton learned today that the state department might not release your e-mails until january 2016 a federal judge said they could be reliesed seen or will you demand that they're released senior to follow-up on question about speeches, was there conflict of interest in your giving speeches into the runup of your announcement that you're running for president. >> the answer to the second is no. answer to first is i've said repeatedly i want those e-mails out. nobody has a bigger interest in getting them released than i do. i respect the state department. they have their process that they do for everybody. not just for me.

anything they might do to expedite that process i heartedly support i want american people to learn as much as we can about the work that i did with our diplomats and ore development experts because ting that it will show how hard we work and what we did for our country during the time that i was sarkt of state that i worked extremely hard on behalf of our values and our interest, and our security, and e-mails are part of that. so i have said publicly i'm repeating it here in front of all of you today, i want them out as soon as they can get out -- >> demand it? >> very interesting there's hillary taking questions in iowa. and liz, she -- couple of things struck me she didn't have the pasted on smile. she looked like she was comfortable. >> right. >> and if she if she's changing her campaign to instead of the people of the top have all of the advantages which she's one of she's taking the same everybody needs to have

opportunities. >> you know here's -- >> a change in her campaign strategy. >> hillary clinton is basically echoing what elisabeth warren has said that the game is rigged when she said i'm going to reshuffle the deck . so you -- >> phony coming from her. >> you don't make the poor richer by making upper bracket poorer but about governor policies and not about those upper brackets who worked hard to get up in upper brackets she's taking massive donations in the wealthiest 1% by the way. getting into the e-mails choir choir -- we're going to see more of this tomoand she's struggled to clarify what it is. >> if you're just joining us is server may be pulled into the courtroom and if so they can do some forensics on that. changed a little bit. prchght wants to see e-mails pony up the server. >> she wants them to see it. >> phony up the service issue. back to the wall street journal report saying that apple ditched its plans to build a stand alone

tv set. our next guest still thinks it is in the works kurt in the cyberguy in los angeles, kurt, they're saying no, no, no you're saying yes? >> i'm saying there's something in the middle of that, tom, good afternoon to you. liz and i talked about this before, apple now as you know karl icahn said apple has a stock price of $1.4 trillion. people are saying what evaluation is that? that is nuts. well, the fact is she said that the four news came out on wall street journal saying that apple has scrubbed idea of ultrahigh deaf tv set that we thought would debut in 2016 instead what we're going to see rumors are leading here that if a doubling of the size of the existing apple tv out here in hollywood is one of the reasons why they're not moving ahead so quickly. it is tough to get hollywood tv and filmmakers to agree to the distribution right that apple will need inside of a aggressive set box type of platform.

tim cooke apple ceo for years has said the living room is a place we want to be. the apple tv is the starting point you see today and we really want it to evolve into something of a space that we own. some details that we're learning about what we expect to see this june at worldwide developer's conference in san francisco is that apple tv will be released to developers in its concept swelts as well as a tip that will be tv and regular apps and now wonk one thing working in apple's favor is that the industry is evolving in television so much out here in hollywood that companies like hbo are being -- you know, loosening their strings to say okay, we can work with a platform like apple and maybe there's an hbo app that isf the platform. so i mean interesting thing happening with apple. one indicator we have $69 is current apple tv price.

they have a touch set device since 2012. so ting that is something coming. >> you make a very good argument about the fact that there's something brewing out there at apple. kurt good to see you in l.a. thank you so much. >> good to see you tom. now this editorial leaving it israeli newspaper says let saudis get a nuke here's the net of it. israel response must be opposite of the trirl line and it should warn that it will obstruct an iranian nuclear monopoly by helping saudi arabia obtain nuclear capability. wow. let's bring in dave for law and justice and leading voice in the jewish community. jay, has the world turned upside down? >> well, i think what has hammed the reality of ongoing negotiations with the iranian regime, pis lam pick republic of ran has result in the fact that saudis are concerned that proliferation of nuclear weapons by iran no one believes they qoapt get nuclear weapons

through the old per president engaged in. that the end result of that is that the rest of the region will get into an arms raced and israel don't want to be in a situation where they're the lone capable defense state in that renal. so this is having exact the opposite effect of what the president was proposing but going to curtail a nuclear arms race in the middle east renal and doing the opposite. >> sounds exactly like that and that is what everybody is fearful of. now the fact that you've got this -- about 600,000 pages of red tape going to be added 600,000 pages added to the federal register over president obama's two terms, and that is going to cost us. you have a new bock out called undemocratic and all about regulation. i'm glad you're addressing this because a lot of people kind of fog over when you start talking about gee there's a lot of regulation you address it

head-on. >> regulations are costing about $2 trillion a year right this moment and i've written about this and covers a host of issues including topics we've talked about today. so purple was to get in and show to the american people hey, here are the problems. here's the government brx p f bureaucracy there's a reason we have statue of liberty surround bid red tape. the bureaucracy has stifled uniqueness of america so when we talk about american exceptionalism we have a bureaucratic base, unelected bureaucracy that is basically attending by the way that includes the state department. okay, state department who is is negotiating this deal with iran they're part of the bureaucratic mess that is inside the united states and they become the most powerful , unelected voted on by no one welcome the unelected bureaucrats have become the most bferl branch of government that is why in the book on democrat i'm clear at saying it is the bureaucracy that has to stop. that is whether it is in the

middle east or domestic policy here in the united states. >> mantd story reading folks because this is -- this is what we need to learn. absolutely jay thank you so much. good to see you. >> thanks for having me. >> you bet. young people -- guess what they bury themselves in technology. their smartphone, tablet and the result a trip to the eye doctor. we'll have more on that after the break.

♪ ♪ >> i'm nicole petallides with your fox business break stocks are mixed on a record setsing day on wall street. infact dow jones trill hit a lifetime high holding on to a gain of 15 points sitting at 18,814. nasdaq up s&p up five points. we have good news in the houses market. dow winners include dupont, american express, pfizer all of those names getting more than one percent. jeaninejp also a winner. good news there. we did see construction of new hole it is that rose unexpectedly in april high fest levels. biggest increase since 1991.

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say it is 2:40 what do you think? >> conceivable to go to 2:40 what kind of time frame are we talking about. i want to know analysis he based that near the car business, and them getting wind to the actual physical television set business, that is pretty speculative at this point if you ask me. >> and we've already had during this hour we've had jo ling kent come in and tell us, the report about the fact that they're not going to bet into tv business. then we've turned around talked to guy nld who said yes, they are, what do you hear? [laughter] >> i'm doubtful that they're going to get into the tv set business in the short run as you guests point out earlier we have the conference coming up in san francisco could have a good indication. they have a monitor they make a 7 inch monitor business for some time period but that is what icahn is missing margin and

television business are incredibly thin and very pun predictable. sharp is retooling so -- the japanese companies that dominated the tfltion f television for decades have been struggling themselveses. idea behind icahn letter is get into 4k it tv apple understands it as well as anybody out there. they have a device that has 4 4k monitoring inputs so they know ho to deal with that. with that kind of technology. but the margins are very, very tough. they have to resign it where they're going to build all of these in volume and sell them? >> and why -- >> just the tv. but the car business -- tougher than tv business. >> good information. thank you for coming on and shares with us. meantime half of 20 somethings in europe are now shortsighted.

due to the increase in time spent using computers and smartphones joining us now eye doctor teether hirsch we go around causing near nearsightedness. >> there's simulated increase of nearsightedness in millennial and upper 20s of 40% of kids in their 20s or 30s are near sighted this always been the case in east asia with a high degree that seem to say increasing over the years. >> so just to make sure we're clear you can see something near. you can't see something far. >> right. nearsighted if your eye is a little bit too long for the optics of your eyes to hold things up close to see them but distance is decreased. >> what happens with the 40th birthday because i remember -- when i was 40 something and they

said i said my arms around long enough to read anymore. the lens starts getting hard then you can't see upclose then what is going to happen? >> that happens to all of us as you get old per lens inside of the eye becomes thicker gist just likier niece and lens in the eye becomes thicker. pretty soon you need reading glasses. >> what happens to millennials who are getting nearsightedness what they hilt 40? >> you can't see distance and wearing contact or contact lenses. whampg do you tell people and young patients that you talk to? >> it is unclear what is causing -- the problem. it probably mostly is genetic if your parents have nearsightedness more likely. whether consistent use of computers and tablets and devices may cause eyestrain particularly younger kids, and

maybe precipitated nearsightedness but some of the things to think about. prchg we've heard though,warnings to limit the time on the screen that is probably good advice from herl. >> publicly it is. one of the suggestions has been studies have shown that outdoor time is helpful. relaxing your eyes looking that distance. >> cards -- >> thank you very much. thank you very much for joining us. well california, we know they're facing one of the worst droughts in decades and own environmental policies are they to blame? we have a live report from the golden state right after the break.

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>> back to that breaking news hillary clinton asked about income, she said she wants to reshuffle the deck. listen to this. >> well, obviously, bill and i have been blessed and we're very grateful for opportunities that we had but we've never forgotten where we came from, and we've never forgotten the kind of country that we want to see for our granddaughter, and that means that we're going to fight to make sure that everybody has the same chances to live pup to his or her own god given potential. so ting that most americans understand that the deck is stacked for those at the top and i'm running a campaign that is

very clearly stating we want to reshuffle that deck. qept to get back to having more opportunities for more people so that they can make more out of their own lives. that i think is exactly what america is looking for. >> answers questioning that is first time in a while asked about her state department e-mails and she said she wants them all released as soon as possible. those runs with that are sanitized. >> judge indicated that and judge napolitano said. she's reshuffling and not calling wall street or bankers like president obama did still no details on what her policies are. striking the second pom pressure from the left wing of the party. >> the idea that we're blessed and like even to have opportunities is a new part of her messaging. but that is what she's doing. meantime california suffering

through one of the worst droughts in decade, stop researchers say thatenvironmental policies may be to blame. fox business's robert grey? newman california, hello, robert. reporter: hey, tom thanks so much. farmer versus fish that is how people work the land in central florida known as bread basket and gone to the supreme court and lost in their bid to get the government to turn up the fans the pumps that send water down the canal that provides millions of gallons of water to irrigate millions it have acres of lands to provide drinking water as far away as san diego 400 miles south. pumps are kept on a minimum volume or level to help protected by endangered species act. of course that these measures are not helping researchers say that the smell still faces extinction. you can see 20% of the farm has gone fallow paying ten times the

amount they did for water two years ago tom because the government has given them zero allocation for the first time in history. and jim jasper turns 70 on thursday this family has been farming this land since 1948 he would like nothing but rain and cooperation from the board that yoaf sees the committee. back to you. >> the environmentalists have won. looking behind you robert not a cloud in the sky. blue sky california day. good to see you robert grey out in california. more varney after this.

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>> so everybody is talk as the fed going to raise rates we've been saying we're not even going to get there but be in a reseis bit summer. so i have a similar forecast 20% correction in stock this is year, i think this is like the beginning of a bigger correction 60, 70% in next few years.

pfertion big big on the market this summer. now let's not go bareish but with bolton. >> apple tv big questions about a potential new product from the big pest company in the world. we'll tellout the details. presidential hopeful hillary clinton taking questions while at the state department. and iewb per wants a bigger piece of the pie, the car sharing service is increasing what it charges drivers raising question on whether or not the startup is more attractive than the traditional taxi model. taking on samsung with its own branded tv set. some say am l will and won't. with me now he wrote the article in "the wall street journal," jo ling kent right beside me here in new york. dye we start with you because billionaire investor carl icahn says apple is introducing an