sandra: and you're encouraging to spend in the stock market. >> invest in the stock market. last night oxford who owns lilly pulitzer blew them up. buying pulitzer and-- >> pulitzer. >> i'm sorry. maria: sandra your thoughts on markets. the yield on the bund in germany above 1%. sandra: above 1% and 10-year 2 1/2% huge moves in the bond market. maria: stuart over to you. sorry for the delay. stuart: maria, thank you very much indeed. let's bypass congress shall we? forget debate. put in a new rule that's the way to run the country. you heard the president using the pen and phone, he's doing it now. an overtime rule vastly expands the number of people who must by executive order, be paid more. trucks jet engines, must by executive order. power plants climate change,

the same story. the way this president will govern for the rest of his term. are you happy with that? a brand new cholesterol drug is approved and biotech stocks moving on that. and how about in? maybe just maybe the economy is stronger than we think? stocks are going up and so is oil. and "varney & company" is about to begin. ♪ >> got him! he has thrown a no-hitter. as he strikes out. stuart: how about that? chris heston the san francisco giants, pitches the first no-hitter in the major leagues this season. he's a rookie blanking the mets in j us his 13th major league start. well done indeed. lineup for you today, congressman lamar smith on executive order.

expect more of it for 18 months. retired nypd detective, bo dietl, the pool party cop resigns. that's a therapy dog that banned from a treatment facility because the owner dressed it up in a costume. we cover it all on "varney & company." yes, we do. in new york cheryl casone is with me and our special guest, liz from the fiscal times. let's get to a quick news update for you. the obama administration is preparing to send 4 to 500 more trainers to baghdad. the increase came in november when the president ordered 1500 troops in iraq. there are now more than 3000 advisors, trainers and support personnel in baghdad. 20 people killed in a series of bombings targeting public places and iraqi security

forces. nobody immediately claimed responsibility for those attacks, but it was a series of bombings in baghdad. the price of oil to the markets which opened. the price of oil up again today, 2 1/2% 61.63 on oil. gasoline holding with no change, 2.74 is your national average. now this. president obama is at it again using executive power, the pen and the phone, as he calls it to double the salary levels required for overtime to kick in. that could affect millions of workers. liz do you think that the government should be issuing a rule in order to raise wages? >> no this is just another measure by president obama to overcome the failure of his administration to grow jobs and put pressure on labor markets so that organically wages would go higher. wage growth has been dismal and that's why every candidate is out there talking about the plight of the middle class.

life is tough for people not seeing wages go up. stuart: this is his solution by fiat, by demand by decree you shall raise wages. my question is what happens to an employer who is faced with this demand? what are they going to do? >> this is a nonvirtues circle. the reason that people haven't been hiring in part because they're pessimistic about the outlook for their businesses in part because the obama administration constantly lobs in mandates and requirements new regulations that make life hard for them. so, basically, if we could roll the clock back you would basically have-- in 2007 8, 9, done nothing, but encourage hiring by employers. instead we've done the opposite through obamacare and rulings like this. >> they're going to fire employees. if you're wal-mart and you've got people working 60 hours a week, you fire that person and hire two that can work 30 hours a week. that's what's going to happen.

stuart: we'll never meet the assistant managers who no longer be assistant managers because of the overtime rule. we'll never know their name. a federal panel approved a cholesterol drug. it's a big development i'm told by the medical community, but initially it's got limited application not everybody can get this new drug. >> you've got to have certain levels of ldl, the bad cholesterol in the strug and an adverse reaction to statins. you've got 50% of americans on statins, this could potentially be used on 11 million americans. it's big money, big business so, yes, initially there are going to be restrictions who can take the drug. the cost insurance companies are freaking out about this drug. doctors are thrilled cardiologists even happier, but the insurance companies are flipping out. 10 grand a year right now.

that's a 90% more expensive than any statin in the market. stuart: you said that 15% of american adults are on statins. >> lipitor and zocor, things like that. and you know look we've never had a true treatment to get bad cholesterol down until now. remember, there are going to be clinical trials on this one. they've got to do the trials, but it looks like now with this panel saying yes, the fda will go ahead and approve it for use limited for now. by 2017 it will be available to everyone. stuart: let me cut you ever so short just for one second. i've got breaking news i want to update developments on the amtrak derailment. we have just heard that the engineer who was at the controls of the train at the time the derailment was not on his phone. that news just in to us here at fox. all right, we've got through the cholesterol story on the new drug. i want to watch those stocks when the market opens 23 1/2 minutes from now.

i think they might move. regeneron was closed down and didn't open yesterday. let's see what happens today. an update on the escaped prisoners. yes, they're still on the loose. investigators think that a woman who worked at the prison planned to pick them up, but changed her mind and got a fit of nerves. adam shapiro what's the word on that. >> in england they call it a fit of nerves, but in the u.s. they call it a panic attack. she was going to pick them up she was having a panic attack and went to the hospital instead. investigators describe her as cooperative and making statements. they believe she helped them obtain the power tools they used to cut through the steel wall and pipe to lead her to escape and use of her cell phone several calls from placed from her cell phone to

pem from david matt and richard sweat. both convicted on charges of murder. once again joist mitchell was the person who, it appears, helped them and she worked in the prison and she went to the hospital instead of picking them up because she was having a panic attack stuart. stuart: thank you. i'm just getting in more news on that breaking story. n.t.s.b., national traffic safety board saying there was no indication that the amtrak engineer was on the phone, repeating, no text no calls, text or data usage occurred while the engineer at the controls when the derailment happened. okay? that's just coming in. now we have rates, as in interest rates up. the price of oil up job openings at a record high. 5.4 million in april, never been higher than that. liz peek, dare i say that the

economy is looking a little stronger? >> we've had one month of solid growth and that was may. you know it's a little like looking at a gorgeous cathedral built on sand. if we have interest rates start to go up because the fed decides now is the time you know we'll see what the impact is because we've had massive stimulus. not just in the united states, but around the world. in the last month 12 more easing measures have been adopted by countries around the world. zero interest rates is not-- it's interesting to see as the rates begin to recover the impact on the economy. stuart: am i onto something? i've always been negative always said that this economy is nowhere near performing as it should that it's really slowing down this year, but now, maybe some glimmer that maybe-- >> i think you're totally right. we've finally seen some increase in growth rate long overdue. but to me the big issues are still a lack of business

investment, which means productivity growth has been nonexistent and you can't have wage increases without that so it's sluggish again, it's been one month when numbers overachieve. let's wait and see. stuart: okay. >> not buying it quite yet. stuart: reading between the lines here. get-- oh, this is a story for everybody. get ready to travel lighter 'cause you have to. the story you want to hear about on your carry-on luggage. >> pack less stuart. your carry-on is smaller because airlines may roll out new guidelines that shrink the current size. your carry-on likely looks like the one on the right. the transportation is recommending the smaller one, 21 tall 13 1/2 wide and the new standard. they're working with the luggage manufacturers to stamp

a seal of approval on the new bags. the change is voluntary leaving it up to the airlines and it's confusing when you use the same carry-on every time and put it in the metal crates sometimes it fits sometimes it doesn't, every airline has its own policy. this would streamline it, but we'd have to pack less if we get the new bags not only are you buying a new bag, you can't pack as much. stuart: rule number one, buy luggage stocks. >> true check. stuart: and you're a former airline attendant, flight attendant. what do you think this is going to do to that scrum that happens every time you get on board the search for luggage space? >> i don't think it's going that make that much of a difference, but you can stuff that bag with everything under the sun and passengers will do that and they're trying to avoid the fees. the airline officials are not

necessarily going to get on board because they'll listen to frequent flyers first and they'll tell them don't adopt these new standards. i don't think it's going to happen. >> some airlines are taking the bag for you on the plane. delta is experimenting with that. >> for a fee. stuart: i travel light, i never ever check bags. >> you're not a female. stuart: what did you say? >> we have stuff that we have to bring. stuart: you mean women cannot travel light? is that what you're implying. >> i am. >> it's a challenge. >> a big challenge. stuart: we're leaving this subject right now. [laughter]. president obama once again bypassing congress using his pen and his phone, cutting emissions and this is how the president is going to try to shape his legacy? wait, judge napitano on that. ♪ freedom, freedom, yeah freedom ♪ ♪ freedom, freedom, oh freedom freedom, oh freedom ♪

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>> we were first to bring you this. n.t.s.b. saying the engineer on the amtrak train was not on the phone. no text data usage at the time of the derailment. that's according to the n.t.s.b. that came out moments ago. we mentioned regeneron, that drug approved by a fda panel. the stock is down 4% possibly because that can only be used in a patient with a genetic predisposition to high cholesterol. down when we open in 13 minutes. congress passed a bill f.a.a. the administration had cheated sharing information with recruits how to pass a hiring test. adam shapiro this bill should be labeled the shapiro bill

because you brought it to congress. >> the congressman introduced legislation which would force the f.a.a. to old hiring practices. last night the house of representatives, stuart passed an amendment to the transportation, the house transportation and housing appropriations bill which supplied the money with the f.a.a. fund. in that bill, the amendment that the house passed 240-186 restricts funding. it cuts funding to the f.a.a. so that they would no longer be able to use that test the personality test that we exposed on fox business. they would no longer be able to use that test. this is a big step because this bill, transportation and housing appropriations bill could be signed into law. if it is no more personality tests. they'll discuss this. this is a big step toward righting a wrong. i've got to point out for a month now, they've asked the f.a.a. to respond.

we know from a source inside there's chaos in panic mode. >> see what you did? well done. thank you. i want to get back to the president's use of executive power the pen and phone. judge napitano is here. all right. judge, he's coming around congress to establish rules on emissions from jet engines, trucks, climate change rules, overtime pay, immigration. he's going around congress. i say he's changing the nature of our government, but it is okay to do it constitutionally. >> well, it's okay to do it legally. i think i'd like to raise the constitutional issue with you in a moment. it's okay to do it legally because he is exercising authority that previous congresses have given to previous presidents in an environment it was popular to do that. fast forward to today you have a predominantly right of center

congress, and a uberlefty president who wants to change the relationship of the federal government to individuals and it carrying through on that boast. when congress rejects, rejects certain epa regulations, for example carbon emissions, can the president do administratively what congress declined to do legislatively? that's the interesting constitutional question which will make itself to the federal kort courts. the congress's answers is no. stuart: have you seen anything on this scale to go arn congress, no we the people and-- >> there are instances of this. harry truman seized the steel mills in the early 50's after congress declined to do it. the president tried to rewrite the immigration laws last year after congress declined to do it, but this one with the epa, you said scale, will affect so

many millions of americans, i don't know it's been done on this scale, more has the overtime rule change you asked about been done on such a scale. the federal government says if you make $23,000, 23-6 or less per year which is pretty low by today's standards, and you work more than 35 hours a week you have to get overtime. he wants to change that number to raise it. he actually wants to double it. does he have the authority to do so under the law? yes. can he get that authority? previous congresses gave it to previous presidents. would this congress enact that legislation? absolutely not. will they try and stop it? yes. will he do it after they try to stop it then we have a constitutional crisis. stuart: but we do have for the next 18 months a different way of running the government of the united states of america. >> and a president determined to make his legacy by

accentuating that difference. stuart: thank you very much judge. see you soon. according to president obama if you oppose obamacare you're just a cynic, maybe democrats should have read it before passing it. go ahead, roll that tape again, i know you're going to do it. go. >> we have to pass the sign so you can find out what is in it away from the fog of the controversy.

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>> as we wait for a supreme court decision that could derail a large part of obamacare, president obama is taking on his critics. roll tape. >> there's something, i have to say just deeply cynical about the ceaseless, endless partisan attempts to roll back progress. stuart: look who is here. sandra smith. deeply cynical. are you deeply cynical about obamacare. sandra: yeah we just want to rollback obamacare because we don't like you that's what he's trying to tell the american people. it's not working and it's stifling business and those are very clear and easy to prove facts. stuart: there's nothing cynical about saying that nothing cynical about obamacare,

cynical about the results of the thing. stay there. the opening bell is coming. boeing, shrinking the size of airplane toilets, jamming in more passenger seats. is nothing sacred anymore? you are looking at two airplane fuel gauges. can you spot the difference?

no? you can't see that? alright, let's take a look. the one on the right just used 1% less fuel than the one on the left. now, to an airline a 1% difference could save enough fuel to power hundreds of flights around the world. hey, look at that. pyramids. so you see, two things that are exactly the same have never been more different. ge software. get connected. get insights. get optimized. it's more than a network and the cloud. it's reliable uptime. and multi-layered security. it's how you stay connected to each other and to your customers. with centurylink you get advanced technology solutions, including an industry leading broadband network, and cloud and hosting services - all with dedicated responsive support. with centurylink as your trusted technology partner you're free to focus on growing your business. centurylink. your link to what's next.

stuart: it was another huge performance from lebron james. 40 points led the cleveland team to a winning game. the cats now the cats and outdated two games to one. on the left of the screen is the bell ringing. the stock market is now open. we are expecting again. we've got it. we are up 38 points and rising. at 46 points. an advance on that? not for now. interest rates are up. oil is up. job openings are at a record high. 5.4 million in april. watch out an op-ed in "the wall street journal" spells "wall street journal" spells out how the next financial crisis will

have been. sanda smith along with cheryl casone. start with you, sandra. i was feeling good about the economy. then comes on article says another crash is coming. >> identifies something most in the investment community has said is problematic and on and had a consequence of over regulation. he points out despite good intentions of the government, smith has such problems such as keeping more capital on their balance sheet that it will cause a liquidity crisis in financial crisis. if they've got to keep the capital of the balance sheets and will cause immense. stuart:.the next problem. cheryl real fast. cheryl: the economy is improving a little bit. in particular was wage growth. we can't do champagne yet as far as the economy is concerned whatsoever. >> come on in.

is the economy showed modified of improvement that are than we thought? >> i don't know if better than we thought. the first month of the second quarter. no champagne. we have to see how this plays out over the next month or two. stuart: he said he was squishy. did he get the buzzer for squishy. netflix is a new high open right there. 657. would you buy it at 657? >> no. i think it is a great momentum socket has been but they will issue 30 times as many chairs as they have outstanding. the small slope allows them to come in and the stock was higher again. when they issued the new shares, that is the time to celebrate. stuart: that is what i don't understand. they will issue a more stock.

but they might split the stock which could bring a lot of people. cheryl: this is a company going into international markets, high profile movies. a lot of potential customers around the world have not been tapped for netflix. another guess save $800 per share. >> there've been losing subscribers in the u.s. they are growing internationally and how far are they going to go? stuart: may i remind you sit in the not so yesterday, henry kramer said it's going to 900. you say? >> all be short in it. stuart: look at regeneron and santa fe. a federal panel is back to prove their cholesterol drug. however the drug is only approved for people with genetically high cholesterol

levels. people who cannot control their own cholesterol. regeneron down 22 backs, santa fe the approval was expected pretty flat at 4978. let's get away from stocks to move on to oil. again my prediction not going to happen at 6149 for oil and 274 for the price of gas. come on in again please. how much higher for oil in the current go around? if we can break through that if the economy does show an improvement as well. stuart: sandra, did you ever trade oil in your days as a traitor? sandra: i moved away from it and the equity markets with the energy companies themselves.

every single day you watch the u.s. dollar in reaction to oil. i know you think this gets too wonky. we've got a movement in the dollar that would render higher oil prices so we can talk about fundamentals until the cow comes home. the u.s. dollar -- the strong u.s. dollars could be a bad thing. something like interest rates possibly sooner than later. stuart: he denies he saturday. sandra: he denies he saturday. stuart: oil is at 61 and some change. sandra: what i will say as we've seen an environment where we produce more oil than number. that usually leads to a price selloff. stuart: look at this. the dow industrial average up 170 points. the dow has turned positive for this calendar year 2015.

7871. maybe investors believe me that yes indeed the economy is beginning to look a little stronger. cheryl: i never thought i'd hear that from you. stuart: show me the price of apple stock. every single day fall in single day of polling around at 128. would you buy? >> we own it. we will continue to buy it. the stock is heading for at least 106. it will be the first ryan dollar capitalization stock in the world. stuart: a trillion dollar company. you wouldn't go with netflix but you would go to apple. look at everything apple has. everything so beautifully integrated. they will increase the conductivity.

stuart: to get to 160, to be worth a trillion dollars exponentially from where they are now. >> the watch will be significant. more significant than people think. they are talking about the justice department. the apple music. stuart: to people here looked skeptical. the >> apple is starting to sound tired to me. cheryl: there's a lot of criticism now. i'm not so convinced they will really have the growth potential you're talking about. stuart: anybody in the studio four or five people, has anybody in the studio use apple pay cover? still hanging on.

>> u.k. in july. stuart: it will go to a million dollars believe me. lilly pulitzer big hit at target. that is giving the parent company oxford a nice boost. how big of a boost. tommy nicole. >> 7% stored in the stock is at a record all-time high. the name are lilly pulitzer and tommy bahama. neither names are texas names of the shoppers are out. they seem better sales better earnings. tommy bahama 9%, lilly pulitzer 17%. other retailers they can get people to buy their stuff. we see a real winner here and they continue to do really great with their brand. stuart: one more question for people here. have you ever bought lilly pulitzer stuff? >> yes. have you ever shopped at tommy bahama?

>> i thought tommy bahama. the >> is very colorful, preppy. tommy bahama a lot of fun with flowers. nfl and major league baseball as well. stuart: this is the one. here it comes. making toilet smaller so they can jam more passenger seats on the triple seven planes. sandra this could be an excuse to run the video to be wearing goggles. what do you think of this? smaller toilets more seats. the >> you are going to yell at me. anything you have to do to increase your shareholder value and we were profitable. we can't be upset. we can be uncomfortable. that's the way it is. they will squeeze a lot more passengers by shrinking the size of bathrooms that are three feet by three feet bathrooms. be prepared to not be looking.

stuart: this is good for boeing as opposed to the airlines. they will supply smaller toilets and offer more seats. >> a whole summer playing in the airlines will sell more seats. is there enough demand for adding capacity? >> united is getting the first one. stuart: it is consumer pushback to the miniscule toilets will be inflicted upon us. >> they don't have any interest. they are also shrinking the overheads of people can bring on this roller bags. you have to pay the airline to check them. they will be hitting the bathroom door. these are the triple for the long haul flights. they are on a plane for 13 hours and they will have --

stuart: stewart does not than it do what he is talking about. stuart: t. think i take a private jet to australia? how much do you think that cost. do you have any comment to finish this off? >> i won't build a change in my pajamas anymore. stuart: show me the big voice so i can get out of this. not that i'd say. coming up in our third hour this is the first hour. the third hour begins at 11:00. former n.y.p.d. is bogeyed old. i asked him about the police officer who pulled a gun at a texas pool party. our police now strained and confrontations. 11:00 eastern "varney & company." here we go. ♪ when a moment spontaneously turns romantic why pause to take a pill?

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stuart: we still have a triple digit rally. the dow up 111. 17,875. look at netflix. no stopping this one. they will issue more stock. it is up at 664 as of now. the price of oil sharply higher again today in energy stocks are the leading sector. oil drillers and oil related companies on the upside nicely so this morning. i want to update the jeb bush camera. this super pac may not hit the $100 million fundraising goal by the end of the month. charlie gasper in a 50s raising boatloads of money from wall street, especially morgan stanley. it he's getting a lot of cash from wall street, commit to me but don't give me the money yet because he wants to wait a little ways. >> if you think about it, this

isn't long-term goal to take this all the way to the election. you still wall street basically favorite. if you look at "the wall street journal" there's a huge pole about ceos. he is the wall street candidate. next everybody else. stuart: amongst republican candidates, not including hillary. just the republicans. 70% greater jeb bush. they met the wall street money is going to jeb bush. it makes sense to sail that because if he gets what he wants that is the republican nomination. he will need the money long-term in the next year. there's tax implications as well. stuart: this is balancing things out the wall street money goes to jeb bush good wall street money goes to hillary clinton. >> they want to back the winner.

it is too soon to tell if it is a hillary jab campaign. stuart: president obama planning to curb carbon emissions from trucks and power plants and is not going through congress. he's using the pen and the pharmacy calls it. congressman lamar smith. welcome to the program. we been on all morning outlining a series of steps of executive orders going around congress. i'm sure you disapprove but my point would be you can't do anything about this. >> executive orders can primarily be reversed. this is a president who has an unprecedented way to use executive actions and in my view it by the constitution and the laws of the land. immigration might be a good one.

stuart: hold on. congressman, if the republicans win next year a republican doesn't block until the white house until january 201718 months away. the president imposing these rules right now. wants to impose them come it will be difficult whether you've got the republican in the white house, congress difficult to reverse because they are in place. >> it is difficult. we have two possible solutions. one is to harness the american people and get them to disapprove of what the president has done. he'll responded the american people and perhaps as they've done once or twice in court and take the lawsuit in regard to executive actions. we win some we lose them. the main thing is still the president accountable and not allow him to can tuna to ignore these constitution of the united states. stuart: when it comes to the

governing power plants which will raise electricity prices for tens of millions of people you think you get many democrats on your side trying to reverse the executive action of climate change? >> comparably not. the most recent poll is actually more americans thought climate change for example was exaggerated and understated. that is the basis of the regulations. even if they are implemented as the president wants it will not have any significant impact on climate change. why do we want to do this to the economy? why do we want to result in the loss? stuart: do you think climate change is a burning issue? isn't the issue people care about? >> no, simply not. climate change is way down towards the bottom. there's a lot of headlines that the american people and of the

jobs are more important than the economy is more important. the deficit is more important. health care is more important. climate change is way down the bottom of the list. stuart: congressman lamar smith, texas. thank you for joining us. president obama said his administration will be the most transparent in history. maybe not the case. we have the proof after this. do you remember this? >> i have a track record of transparency. i will make our government open and transparent. i want transparency. i want accountability. said the american people can be involved in their own government. charge! so why would you invest without checking brokercheck? check your broker with brokercheck.

the real question that needs to be asked is "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure for cancer, that's what i'd like to do. the pursuit of healthier. it begins from the second we're born. after all, healthier doesn't happen all by itself. it needs to be earned... every day... using wellness to keep away illness... and believing that a single life can be made better by millions of others. healthier takes somebody who can power modern health care... by connecting every single part of it. for as the world keeps on searching for healthier...

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stuart: target has doubled a shared type that program and increasing dividends. target is up 59 cents on the news. president obama promised a transparent administration. remember this. >> i have a track record of transparency. i will make her government open and transparent. will do it in a transparent way. so the american people can be involved in their own government. stuart: is it turning out that way? apparently not.

she joins us now from washington. you say this is not a transparent administration. can you give me an example? stuart: sure, stewart. the freedom of information act is the mantle of government transparency and is expressly intended to be insulated from political consideration. what has happened is several government is, chiefly the treasury department we know the state department to. freedom of information act is scrutinized by political officials process instituted by obama officials in 2009. they look at every freedom of information request, every single one submitted by the media. with an express purpose to shape public impression about documents released and so on really violates the spirit of the freedom of information act.

stuart: you say there is a political filter for the immediate request the document and it has to pass through the committee a politicized committee before we get the information released to it. i guess they simply hold things up forever and ever. that is what is going on. >> absolutely. what you have in the national review piece is internal e-mails saying there are career foia officials complaining about the process and saying the political review committee is taking forever and the freedom of information act is not just media that any citizen can request documents. the government is allowed to request an extra 10 days. citizens and media can sue if the government doesn't respond and they attracted not much to the frustration of regular career officials. stuart: i don't understand. why would career officials in the treasury department not want

to hold things up a little? >> you know in this agency is there are really honorable public servants tried to do their jobs who want to get documents to people in who aren't looking out for political considerations. that is that the people appointed by the president at the top levels are doing much of the frustration of these people. the media in particular is singled out. stuart: surprise, surprise. >> it explains the possibility between the above administration and the media. stuart: eliana johnson, thank you for bringing us to this. apple's new software can track your activity. but is that all about? plus, president obama's pen and phone approach. he's meant hours of relative. a second hour of "varney & company" is about two and a half

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>> welcome back everyone. here is what's is new in the 10:00 hour of "varney & company." forget congress, the president striking again with his pen and his phone. this is how the administration plans to finish its time in power? and chris is here with the reaction to going around congress. so-called wearable technology going too far? how hackers could know where and what you're doing. and epa, we're talking to the producer of "frack nation", a documentary out to debunk the myths surrounding the fracking process. and jerry seinfeld's late night rant. he thinks we're too dull and too politically correct. do you agree with that? the second hour of varney starts right now. ♪

new information on the amtrak probe. federal investigators say the engineer was not on his phone at the time of last month's deadly derailment. no text no phone calls, no data usage when the crash occurred. now this. the u.s. is preparing to send between 4 and 500 more personnel to iraq to help iraqi forces break isis' hold on anbar province and maybe assist in the defense of baghdad. here is what senator john mccain had to say about it. >> it's more than a plan i think it's a bandage on a hemorrhaging artery. it's still is not ip dick tiff of any strategy. stuart: meanwhile in baghdad, a series of bombs are targeting public places killed at least 20 people in and around the city overnight. nobody immediately claimed responsibility for the attacks. in egypt, a suicide bombing near the ancient temple of car

knack the goal was to target tourists. three terrorists were killed in the attack four bystanders injured. check out the big board. we're going up more up 142 points as we speak. the dow has a triple digit gain, positive for the year now. another day, another new high for netflix look at it go. they're going to dilute existing stock holders. they might split the stock. 672 on netflix right now. look at regeneron, down even though a peril approved a cholesterol drugs, only for people genetically pre-disposed for high levels of cholesterol. regeneron is down. and here is a real movement in interest rates. the yield on the 10-year treasury, that's the benchmark for interest rates. bond prices down that pushes the yield up to a high for the

year, 2.46%. and now this. an op-ed in the wall street journal spells out how the next financial crisis will happen. here is a quote for you. see if you can understand it. a liquidity drought can trigger the next financial crisis. sellers will offer securities, but there will be no buyers. prices will drop sharply causing large losses for investigators. additional fire sales will aggravate the decline. >> i think i've got that one straight. melissa francis has a dead straight here. what do you think? >> i think that makes a lot of sense. i mean, one of the things they're talking about, taking banks out of pop trading. trading things that aren't traded as readily and easier banks are making a market in that and taking risks and bets because they've got the capital to back it up. you look at it it doesn't exist any longer and you talk about a simple thing, airlines want to layoff the risk of how high oil prices are going to go.

that's an everyday example of where the bank would take the other side of that bet. so it allows airline prices to be more stable. it drives prices higher everywhere and gets rid of liquidity and makes the dramatic fluctuations happen. you don't buy that stuart? >> no, you barely avoided the buzzer. >> i was conscious of that. ifs the thirst-- this is the first time i've been here in a while and the point is not to get buzzed, but buzz your tower. >> the banks are lending to people. during 2008 they were encouraged, pushed aring if you will, to keep lending. and they're not going to do that, that's going to back off and it's going to hurt everybody. >> i cannot wait for you to trade me out, stuart varney. stuart: new regulations on wall

street have taken money out of the marketplace. the money is not there, that's called liquidity. you're taking liquidity, money out of the market. >> we agree with you. stuart: when pricing occurs the buyers and sellers are not there and prices can go way up and way down. >> we're all agreeing. stuart: you've got to explain it better. >> you don't like the verbiage. i take that from you. stuart: the regulation that we've imposed can be the source of the next crisis. >> there's always good thoughts behind it good intentions trying to keep something from happening again, but then you create these other unintended consequences that are not worse. communities banks are not lending and that's a fact. that's not good for the regular guy that's not what anybody in washington wanted when they created this role. aren't you glad you came back? >> i am. let's see if it stays that way

for the whole hour. stuart: you're on for the whole hour? >> you can't get rid of me stuart. stuart: glutton for punishment. welcome back. >> thank you. stuart: president obama using the pen and phone again to get what he wants. it's the power of the executive branch. fox news digital editor is here. have you ever seen the extent of this executive order form of government before? >> well no. this is-- this is fresh. all presidents like executive orders, all presidents like to use their time in office to expand their power. it is the nature of man, but in this case the president has, as we continue to see, left i am himself marooned in the courts because he has resorted on so many occasions to going to executive power and conjure conjuring new authority for himself. stuart: it's a new way -- it's

constitutional, as i understand it beau we've not seen anything to this degree before. >> to quote the leading constitutional authority of our organization the judge napitano rule a thing can be legal, but not constitutional and in this case what you had was over the span of about 40 years congress intentionally abrogating its own authority. congress abrogated its authority to wage war, to declare war. time and time again said we'd rather not have power, we'd rather get reelected and raise money. so in this case we have a president now who says i will fill the void and run into this space and now we have i will put global warming rules on airliners. i will wage war on global warmer through a series of regulations ruling out this year. we know that's going into the courts and bog down, but the president basically says you can't stop me you won't stop me so i'll do what i want. stuart: politically, i think a lot of democrats will go with

the president on this one. i think a lot of people want a decree at that says yes, you'll pay overtime to a lot more people. i think a lot of people will go with new rules on emissions from jet engines and trucks. i think that will be-- democrats will go with that no? >> many democrats will go with it, but there's a current mania that has gripped the national democratic party, which is there is no such thing as too liberal that you cannot go far enough left because who cares? and old white people don't matter anymore and they'll all be dead soon enough and who cares? that's currently the belief the deply held belief of the democratic party. as we watch hillary clinton tumble, trip, stumble to adopt any liberal position and the democrats say, yeah a thousand years of liberal reign. when you mess with things like

gasoline and global warming, you'll get snap back from people living on the margins in the middle quinntile and happens to be the swing voter. stuart: if tkts go to -- if democrats go to the far left, will we get a third obama term? because the whole country has moved to the left with the democrats. >> the first rule of tracking the clintons if you want to catch a fish you've got to think like a fish. the clintons they'll stay and do whatever they want and not be called out by the press and the running against here a sexist, caveman and not allowed to vote for them. stuart: chris, i think you're flat-out right. >> i didn't get buzzed like

francis. >> i didn't get buzzed. >> if i would have been there you would have been. >> i thought we were buddies. >> if i knew there was buzzer authority, i would have been against you the whole time. >> my goodness. >> [buzzer] >> you got buzzed. stuart: can i get a word in edge-wise on the show that bears my name. i here by decree buzzer authority to you. >> oh, thank you. stuart: i had a he like to get to the top stories, lauren has them in case you missed them. >> i do hi everybody. smaller bathroom more people. the engineers at boeing are working on shrinking the size of their most popular plane's bathroom. so they can put 14 more seats on the triple 7 jets for next year and san francisco wants to put this on ads for soda and sugary drinks. warning drinking beverages with added sugar contributes to diabetes and tooth decay.

officials voted on this yesterday and the city may be the first in the nation to require such warnings if it receives a second one next week. and there are fees to the proposed taxes on sugary drinks in several cities. guess what? "x-files" is coming back. after 13 years, jillian anderson tweeting these pictures of the crew chairs. and it's that's on fox. the regular time slot will be mondays 8 eastern. stuart: we'll take it. thank you. elon musk more ambitious than ever. he wants to send thousands of satellites into space and it will create cheap, fast internet for everybody. interesting. and plus apple sneaking its way into your love life. it's got a new reproductive health tool that wants to track your activities in the bedroom.

>> well well. stuart: i don't know why that's on the screen. >> love it woo. ♪ the pursuit of healthier. it begins from the second we're born.

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>> understand me? hey don't-- completely legal, whoa what you just saw is a man swatting a drone that was flying too close to his home. he smacked it down. the owner of the drone is suing him for $1300. you don't want wal-mart to be allowed to sell drones because they're not safe? >> there's going to be so many injuries come next january for drones being sold at wal-mart. they should not be sold on the open market.

they're dangerous. melissa: we have five drones at our house and we love this em. . cheryl: don't put your fingers in the drone. stuart: this to us. spacex founder elon musk wants to provide internet service from space. melissa: they'll take 4,000, they'll have internet around the globe. this is a genius idea and it's going to turn the space company at&t, verizon, watch out. this is the technology that we love. i love elon musk he remind me-- my son is 8 years old and talking about the idea. we have to transmit energy wirelessly so we can charge our phones at the same time. little boys like that grow up to be guys like this we need them. stuart: i thinking this doable.

not like other projects for elon musk. cheryl: save the tape on that one. stuart: and now this, google is working with levi the jeans people to create the neck wearable technology. smart jeans. are wearables going too far? bring in bret larson. you think that maybe things are going too far because it's an invasion of privacy. >> a little bit. the more data that we can have collected about ourselves, the more we kind of put ourselves at risk for the hacks that's been happening. almost like a weekly thing. think about what your jeans say about you and whether or not you want the information coming in the hand of hackers. stuart: if you're got a wearable on you can track where you are. >> absolutely. stuart: and what you are doing. >> exactly. if somebody hacks into it they know who you are and what-- >> they know how to get that information. a wearable jean we're not saying that the levi's jeans

are going to track where you go. maybe more functional. remind you when you put them on, wow, maybe you should hit the gym. these 32-32's need to be 33-34. [laughter] >> you carry your phone with you orwherever you go. and they know exactly where we are all the time. i never see you in the hallway without your phone. what's the difference if it's your jeans or your phone? that's ludacris. >> they're wrapped around your leg put down the big mac and pick up the dumb bells. i don't know what they're saying. cheryl: squeezing in the jeans, i don't need that to be public information. >> you could have censors for people who have diabetes and things like that. wearable technology. stuart: there's a danger. >> there's a danger to your privacy.

stuart: talking about danger to your privacy listen to this apple wants to be in your bedroom. they've added an option on the nios option that allows you to add information about your sexual activity. >> for lack thereof. stuart: they say, i did this. >> it's not like leave the iphone on the bed stand and they'll tell you what you did the next morning. this is the calendar, what do you think is going on here. this an awkward conversation. i feel like i'm in 7th grade. cheryl: it's wonderful, it's women trying to get pregnant which can be a complicated process and helps them. you work with your ob-gyn and has a great use. >> in ios 8 the precursor to ios 9, they rolled out health features and trying to take a

proactive approach on our health where people with parkinson's diabetes alzheimer's adding this in i think is fine. again, this is also more information about us that is being captured and we have to remember that all of this private, personal information we give ends up in a date a base somewhere that can be matched to you. stuart: that's just the-- >> that's the way it is. there is no privacy longer and the news for you, apple is already in your bedroom most people charge their phones in their bedroom on the night stand and already there. cheryl: tracking my sleeps. >> if you notice a lot of ads for trojans, they're paying attention. melissa: where is the buzzer. cheryl: or dating sites for some reason. melissa: you go there. >> you heard of tinder we've been monitoring your bedroom activity. >> oh my goodness. melissa: buzz. >> we're going to leave it at that. stuart: all right. a manhunt continues for two convicts. reports are that a female

prison worker was supposed to pick them up after they got outside the jail. we'll tell you why she may have changed her mind and jerry seinfeld on the sat state of comedy. he think the younger generation is becoming too pc too dull for its own good. >> don't i know it. you have to feel the same way about comedy. >> yes, but they keep moving the lines in for no reason. >> right. the real question that needs to be asked is "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure for cancer, that's what i'd like to do.

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and both of them worked in the tailor shop and one of them romanced her. she was supposed to pick them up in the getaway car, she had a panic attack and ended up checking into the e.r. instead of picking them up. they are on the loose and they're searching around for them actually in the general vicinity of the escapees and they're talking to her, but she bailed on them. married 51 got a son. something snapped inside of here. stuart: thank you. seinfeld doubling down on how political correctness has gotten out of control. watch this. >> you have to feel the same way about comedy. >> yes, but they keep moving the line in for no reason. >> right. >> i do this joke about the way people need to justify their cell phone. i need to have it with me because people are so important. they don't seem very important the way they scroll through

them like a gay french king. >> what do you mean what do you mean? there's a creepy pc thing out there that bothers me. stuart: a creepy pc thing out there that really bothers me melissa. melissa: i can see what he's saying on one hand you can't make a joke about caitlyn jenner, of course not, but at the same time that the people that wrote and directed and silicon valley and fx are totally irreverent and huge successes now. and what he's saying is true in stand-up, but on the comedy side. stuart: killed on social media. melissa: killed on social media. stuart: pc out of here. cheryl: also, stuart remember in that same-- that was onset meyers show they talked about caitlyn

jenner, and eventually caitlyn jenner jokes are not out now, but they'll come down. it will be years not days they'll have those. stuart: i think that seinfeld was referring to the campus. and what you can say on a campus has been-- he said the lines are narrowed and he's right because there's all kinds of things you just cannot even talk about on campus. they wouldn't invite you in the first place, get thrown out if you say certain things. melissa: absolutely, the joke he did, you couldn't get away with that on a stand-up routine. you wonder who is making the rules. book of mormon on broadway make one of homosexuals, christians and i can't understand when you do the joke and can't. stuart: one person is offended they sue and they win. that's life. and amazon expanding into the media room. why they're hiring someone to run a daily live tv show.

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today at join-self-employed-dot-com. >> i've got this just coming in weekly crude stocks coming in down 6.8 million. in other words, there was a drawdown, we've got less oil in storage. we're down over 6 million barrels in the last week and the price of oil is there for up 61.48 is price right now. russia's president vladimir putin and pope francis meet for the second time supposed to happen about an hour or so. second meeting it is going to happen. check that big board please look at it go. almost 1% that is 163 points up. the dow is positive for this calendar year. but the target they've doubled their share buyback program and increased dividend stock is up 60 corrects. another new high for netflix to

issue more stock but they're going to cut they're going to divide it it is a stock buyback no it isn't. they're going to divide the stock. stocks split is what is going to happen. market loves it. 36 dollars higher at 6.83. now look at regeneron down even though an fda panel approvalled cholesterol drug only been approved for people predisposed to high cholesterol so a narrow marketplace. stock down a 4%. nice rally in oil after that drawdown in supply 61.58 benchmark interest rate that is the year of the tenure treasury. 2.46%. prices down, the yield goes up. and the epa says that fracking does not cause widespread harm to drinking water. here's the quote from that 1300 page report. we did not find evidence that these mechanism it is that is

fracking have led to widespread systemic impact on drinking water resources in america. let's bring in our next guest the producer of the documentary frack nation good to have you with us. >> thank you stuart. >> e pennsylvania saying no damage no systemic damage to the drinking water. we've got some anti-trackers saying not so. some ground quarter is contaminated and we can show you individual examples. who is right? >> well, the anti-trackers are being clfer when you start drilling a hole you may impact the stream and spill oil into a waterway. you know if you do any industrial process -- you eventually will somewhere impact water by spilling oil or spilling thriewd. fluid but fracking doesn't cause

water contamination never did. when i have nation this is where i ask people where is your san san francisco report it is easy to analysis wart. what's in it? you can do it in any -- level and they could never produce evidence that fracking can contaminate water and epa confirmed this. version i was surprised to see that epa report because i thought the epa would do its up most to stop fracking in its tracks and reverse it but it didn't. they said it is okay. not harming drinking water. do you think this opens up fracking in states luke new york for example will it have that kind of impact? >> god bless you stuart for your naivety. no. and because i know you ever very naive, no, look being an environmentalist never having to say you're sorry. so they have a scare.

they produce a scare. goes on for years and years science comes in proves it is wrong and all of these things and then they move on to the next scare. so military earthquake, now they keep going on and on. low over with children children born below width they keep going on so people need to relax and epa has spoken what people in the area knew all along fracking does not contaminate water supply but that is not stopping anti-fracking activists who have a religious fear in this. and they don't like fracking they'll do anything to stop it. >> they have an hidden agenda which is no fossil fuel with oil, gas, coal i don't any of it. can you settle a dispute? is it true that you can, in fact in down state new york light the water? and you've always been able to

light the water with a match for hundreds of years that is correct. that is true. is it not? >> that is 100% true. people that go through a documentary called truth learned actually where you see on camera someone lighting their tap water in new york there's no fracking in new york as we know. so lighting your tap water has nothing to do with fracking. there are three in america called burning springs there's a long hirings. george washington licked water in his diary him and thomas paine had a bout if they could light water. a lot of guess that comes up. more important, i saw your incident with josh fox the director of gasline. he knew that. i have him on tip saying i saw the reports of people light their tap water in new york in 1936. but i chose not to include it in my documentary because it is not

relevant josh fox knows all of this and admit it had on tape but chooses to try to avoid that because that doesn't make for good anti-fracking propaganda potential >> thank you, than very much. thank you. that is good stuff we appreciate that. thank you. >> thank you very much for being with us today. we do appreciate it. thank you, sir. >> thank you, stuart. >> he called me naive but i didn't respond at all. just being funny, that was good. [laughter] >> silence is golden. >> very true. >> you win every argument in any book unless it is against me but otherwise yes, absolutely. >> you lose the argument. >> and now this music streaming service spotify can be can anyone believe this? they raised more than half a billion dollars in new funding. just as apple announces a new music streaming system coming

out there. jo ling kent who is going to win? >> it is hard to say but you know when apple gets into something and innovate and oftentimes come out ahead. but spotify has a big advantage here they have 60 million users. pandora is what they're using. 79 million users but you'll love this. ceo of spotify on monday at apple event he tweeted his reaction to apple music and then he deleted it. here's what he said, two words, oh okay so he wasn't worried it seems about that prospect about the music but it does launch june 30th an could change the game. >> is it profit profitable? >> no it makes a loss so not making money. so that is -- 8.5 billion evaluation we talk about evaluations all of the time it doesn't make money. there's a big debate about if and when it would go public what would happen on that front. especially girch the volatility of other stocks like alibaba.

>> especially when apple comes in with 2 billion in cash for heaven's sake. ferghts most valuable xeanl in company in the world. >> pleasure, thank you. time for the sector report all right cheryl tell me you're standing right behind me. you have to tell me what are you watching today? >> working once again above you but i want to pick up on breaking news that you have a few minutes ago on inventory dada that is good for a lot of energy names you can see them moving higher i want to show you chesapeake energy corporation and these are guys that are going to make more money, be more profitable if you have more drillers that is the sector that i'm watching right now on the breaking news that you brought over. >> we will take it charl thank you very much indeed. your inflight spurnes about to get a little more cramped. new rule ares may have you shrinking your carry-on luggage out. plus it is the technology that turns an ipad into a cash register. more stores are using it. how secure is it? will it help businesses?

more on the story in a minute. ♪ every auto insurance policy has a number. but not every insurance company understands the life behind it. ♪ those who have served our nation have earned the very best service in return. ♪ usaa. we know what it means to serve. get an auto insurance quote and see why 92% of our members plan to stay for life. new york state is reinventing how we do business by leading the way on tax cuts. we cut the rates on personal income taxes. we enacted the lowest corporate tax rate since 1968. we eliminated the income tax on manufacturers altogether. with startup-ny, qualified businesses that start, expand or relocate to new york state pay no taxes for 10 years.

all to grow our economy and create jobs. see how new york can give your business the opportunity to grow at ny.gov/business >> i'm nicole petallides,ed dow is up 170 points after four days of selling, to an oversold market you could say. stocks have turned around, dow

right now up nearly one full percentage point. s&p up 17. nasdaq up 47 from your dow winners intel and with technology, best performing sector of the day. we're also watching wal-mart very closely traders noting and sourings traitd, the news that there's some chatter that activist investor may have taken a chance to look at that. stock surges comes off 52 week close and moving into the green up above from there. energy with that is second best performing sector. we just have our weekly inventory numbers and once again, we saw a draw down on inventories and falling in majorities for the 6th straight week and most are to the upside -- ♪ ♪

>> it is called shop keep, and it turns your ipad into a cash register. we will explain. shop keep founder jason is here. to explain now okay, i've got an ipad. if i use your software shop keep i can turn that ipad if i'm a retailer into basically a cash register? >> sll we help over 16,000 retail stores independent mom and pop like iowa out of brooklyn i turned my ipad into

brooklyn and helps stores do it too. >> it is a software package. >> so you turn your ipad into a cash register and log on to web browser you can see top selling items and best customers were. >> can customers pay through it? >> we allow credit card processing and taking cash. >> how much? >> it is 49 a month it is a service. we want you to try for free if you like it call us to set it up. >> you have 16,000 -- >> businesses around the country. i can't do it fast enough. are you making money? >> fast growing venture fund to start up. trying to grow it is a huge market out there. all of those ugly black boxes in restaurants and window pc causing a lot of problems with the credit card fraud out there going to gets replaced over next couple of years. >> microsoft stockholder you're pushing me out the door. so be it. square that has to be a

competitor of yours? >> doing a real job helping accept credit cardses that a great thing important thing we go further. we help you run your restaurant or retail stores more than taking to shop keep it is really about managing your business. >> wait a minute you have input to the business that runs your soflt ware do they want that? >> we have great analytics to understand and where profits are and best selling items and best cashiers were. that helps make decisions in real time to make a smarter business. >> how long before a cash register old fashioned cash register -- how far before they're obsolete. >> people don't like reporting sometimes in their business and you're never able to beat that. so we work with businesses who don't mind having reporting on what is going on in their business having that recorded. >> so if i pay cash -- retail operation that uses shop keep it is beginning to be reportedded as generally going to be a business of paying in a

sales tax. >> has to be recorded. >> yeah. people stealing information how do you battle against that? >> one of the great things is we use encrypt a credit card reader from the beginning. had a card is swiped through shop keep, we encrypt in the hardware right away and never gets into our software we have a certified processor a much more secure way to do it. they would not have had that breach if they were doing that. >> if they use shop keep the credit card information cannot be hacked from shop keep. >> it can't be hacked we pass it on it another prfers provider they're capable of storing it. >> privately owned company start ised back in 2008. >> you are founder. >> founder. >> soy presume that you stl own a big chunk of shop keep. >> involved every day working

with -- >> yeah, of course. >> are you going to tell me how much you own? >> no -- >> 50%? >> less yes. we're growing -- >> startup. it is in there. >> trying to do the math 16,000 customers paying 60 a month. can anybody do math on this. >> i won't tell you gross revenue but we're processing over 5 billion in credit card payments a year now on it. >> you don't get a piece -- >> payments companies -- >> you play market both ends you get retailer to pay you for service and get a piece of the stock. >> if you use shop keep we can save you money off of who you're using now. >> to get a piece. >> i'm looking at the economics. >> economics are good but really as founder i was a retail owner myself and i started beside of my frustration with credit card processing but software available to me.

trying to make a product so help small business. >> would you sell me tomorrow morning for a quarter billion dollars? >> let me go talk to my board about that. i have a feeling it would take time but not ready yet -- >> say yes? >> he would -- >> a huge market you do not see ipads in every store you go into. pab let aloanl it is a huge growing market that hasn't started. >> you have two young people into the studio with you. >> saying something that you shouldn't say. that was good jason shop keep. founder, thank you very much for joining us. we do appreciate it. >> thank you very much. >> up next airlines pushing for restriction on the sizes of your carry-on bags smaller bags and by the way, smaller toilets. how do you like that? and in the next hour former nypd detective bo dietl we're going to ask him it be the police officer who pulled a gun at that texas pool party he's resigned by the way. that is coming up in the 11:00 hour.

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save up to $423. call liberty mutual for a free quote today at 1-888-438-9061 see car insurance in a whole new light. liberty mutual insurance. >> welcome back, airlines are looking to shrink this size of your carry-on bag. blake berman that is reagan national airport, how small are these bags getting, blake? >> well lauren it is not like you have to take that trusted carry-on and get rid of it throw your luggage away. but these are guidelines from international air transport association revealed yesterday. let me show you what we're talking about baggage that is standard careon size here domestically, the guideline now calls for a bag that is

something similar to this. you can see it is certainly making a difference for a getaway that last a couple of days long. iapa says they have airliners who have signed on and more into the future. but not mandatory just a suggestion so something to keep an eye on if you're planning to buy luggage any time in the near future. lauren. >> that luggage will be smaller thank you blake good to see you first now a full two hours of varney company in the booings here are the highlights. more varney is two minutes away. >> you were dead right. i didn't get birds like francis. >> i didn't get buzzed it. >> if i would have been there, i would been buzzed francis. >> i thought we were buddies. >> i didn't know there was buzzer authorities. if i knew there would been i would be againstout whole time. feral my goodness. >> you got buzzed. >> wearable jean aware not

saying levi will track everywhere you go but more functional to reminding you should hit the gym. 32s need to be 33/34. >> can you settle a dispute, is it true that you can, in fact in down state new york, light the water and you've always been able to light the water with a match? ing for hundreds of years that is correct, that is true, is it not? >> that is 100% true. you are looking at two airplane fuel gauges. can you spot the difference? no? you can't see that? alright, let's take a look. the one on the right just used 1% less fuel than the one on the left. now, to an airline

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stuart: let's look on the bright side. maybe the economy is stronger than the official numbers just. let's not get carried away. we are not in a vigorous expansion. we are new but growing that much. it doesn't seem like we are sliding into recession. if we were heading south on interest rates would not be

rising and they are rising. if you lend money to uncle sam for 10 years, they will pay 2.5% interest. that is the best payout this year. that doesn't happen if the economy is headed to recession. also consider a record number of job openings. 5.4 million in april the best number of reported. the firing rate is the lowest in years that job creation is even stronger. the republicans may open the floodgates of capitalism soon. again let's not get carried away. interest rates are up because janet yellin is pushing them appeared part-time jobs are being created and it's not paying that much. it is not all milk and honey out there. the turning point excites investors feared the moment when a glimmer of hope emerges from the sea of doubt, maybe things are beginning to look up a little. if investors believe that bonds down, stocks up. ♪♪

stuart: with a british accent, always look on the bright side of life. it is a beautiful late spring day in new york city. i am looking on the bright side because i'm looking at that the big board. that is a 200-point rally ladies and gentlemen. stand up and cheer. back to 18,000 parent look at the price of oil. a big draw down in the stock pile of oil down 6.8 early in carroll's. the price goes up a bucket 61. let's get back to what i call a moderately rosy take on the economy. imc in some signs of life. let's see if charles payne will stamp all over it and say i'm being way too optimistic.

>> listen, there are signs there is no doubt. here's the thing. we got accustomed to the mediocre recovery batteries to have a skepticism. here is what i'm seeing. much premiership at an all-time low is starting to spike. household formation which is really holding us back big time. these couples are renting but they've still got to buy pillows and bed sheets and all that stuff. you mention the job opening and job opening for an all-time high. people are so intimidated. they are so confident they can find another job. the gas went down. the money. there's pros and cons. we are at a point where this is the new normal we give the new administration. stuart: maybe this is the

beginning of a turn in point. investors will react. stocks up one down. stocks are up right now 200 points on the dow industrial. maybe it is because this is a turning point from the negativism allowed to recovery to maybe it is not a bad. >> the month before that now that they got a paycheck they spend the money. what they are making vilas mandate and that is reflected in the market. stuart: it is not like me. >> i don't know what is going on. i'm waiting for cartoon butterflies to start flying around. stuart: look at this. this is netflix. this is a new heart. 6.6 $43 high. 690 on netflix.

>> all my clients are in it. or hundred 49. target with 700. i've asked everyone to buy the stock. this run has become parabolic. this would have been over a six-month period. stuart: i'm trying to look at that chart. 330 340 down in the last summer. i can't quite read that very well. looking at three something in june of last year and now almost $700 a share. stuart: july 3rd 2002 at 15 bucks. >> can you imagine. right now this is parabolic. it won't be reflected in the next earnings reports. >> sooner or later that takes it. >> when they take a headache is that the hundred point at a

time. i can't wait for it to go down again. stuart: charles payne, thank you very much. president obama is added again using his phone and tend to push the agenda without congress involved. epa set to unveil rules on carbon emissions for truck there up and train airplanes. second a new overtime rule. vastly expanding the number of people who must by executive order be paid more money. he says the president is ignoring the constitution. roll the tape. >> it is frustrating. this is a president who has been an unprecedented way gone around congress and in my view at least ignore the constitution and ignore the laws of the land. stuart: former office depot chief. does he think president obama's new push will kill jobs? i think he's going to say yes. he joined the satellite in

30:00 this morning. the police officer in texas seen resting a teenager to the ground has resigned. the former police chief cause the actions indefensible. former new york city police detect bid bo dietl. when a fast bowler. police officers around the country when they see that happening are now going to be averse, especially with minorities. >> it is not something new. the people called the fights going on. i show some video prior. the girls were fighting with each other. now you've got the advent of the old cell phones. everyone of these things go viral. that is not the point. the point right here right now is every cop has to watch out

that they are in video. there will be a drawback from cops doing their jobs. why do i want to get involved and videotape. i don't believe the cop should've resigned from what i saw. moment dennis had when he pulled his gun he could've felt as though one of them had a weapon. i was not there. until i came out completely with the investigation. nobody wants to see a cowgirl thrown on the ground like that including me. i have two daughters. if a cop did that i'd be very angry. >> here's the problem i have with what you're saying. i does another policeman there who were acting so responsibly trying to herd everyone together. just this one guy seems he lost his cool. so that is what makes it tough. why would the guy with the most strikes be the one acting like a rookie. >> again i will not fight for something i saw throwing a guy

on the ground -- a guy throwing a little girl on the ground. with the advent of the cell phones. >> cameras exonerated -- if you take all the policeman there if there were no cameras can imagine how the story could've been. all the concerts are never one to the ground. it could've been a big story. >> did you see the video prior? in a situation like that i am not supporting that cop for throwing the little girl down. for him to be fired for it? >> he pulled the gun on children. >> ones that did not lose their cool. stuart: the n.y.p.d. police commissioner bill bratton think it's hard to hire african-americans as cops. >> i don't really believe that's a responsible statement.

we have one of the most diverse police departments. stuart: was hard to hire african-americans. >> that is ridiculous. stop in frisk come you only arrest somebody if they commit a crime. if it is a felony on the police department crime and are allowing that. very simply, a lot of african-american soldiers coming back. let's give them 10-point. let's help them because they'll be the most professional cops had a lot of young african-american guys are looking for jobs. i'd be honored to have them on the new york city police department. they can't find jobs. let's get an allowance for the military guys and we will fill up the police department with as many african-americans as you need. i don't believe that. stuart: bo dietl can we take your point. thanks for joining us.

the convicted murderers who escape to new york residents still on the loose. you have the latest. >> this is a 51 world woman who police had worked inside the prison and it is believed she may have insisted these two men david select and richard mattes in her escape by helping them obtain the power tools but also this is what is really shocking. she was supposed to meet them at the manhole cover and picked them up in a getaway car. she had a panic attack and went to the hospital instead. these are not her words. this comes through investigators who say she's given a statement and a somewhat cooperative at the bottom line is these two men are her wendy's human beings. they have murdered people. and not the case he killed his boss in the number of the body. they are still on the loose. you've got several hundred police officers and bulls broke him in new york trying to find them and believe they are still

in the area. stuart: up next an op-ed in "the new york times" that if you want to get out of paying student debt just default on your bills. what do to responsible millennialist paid for their education, what do they have to say about this one? they will chime in and a moment. ♪

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stuart: big traffic tie up outside new york city right now. you're looking at the lincoln tunnel for new jersey to midtown manhattan. a bus rear-ended another bus inside the tunnel. 18 people injured. traffic into the city rack up at least an hour.

a real mess could still be this bad once rush-hour hits. we shall see. it looks bad right now. lilly pulitzer was a big hit at target. billy pulitzer also owns tommy bahama and that stock is up 6% 85 bucks new high. expedia a winner after an investment term raised its price target to 100 or $2 a share. but that goes $3. congress passed a bill that restricts funding to the faa. this after investigations showed the administration shared information with recruits on how to pass a hiring test. adam you exposed the story and i think you stop the cheating. >> for the time being. it could go forward at the president signs into law the housing appropriations bill and they removed the amendment which would stop funding this crazy personality test the faa says is

valid but we show that documents which in essence shows that is not valid. bottom-line stewart they spent several million dollars for the private company every year called abt metrics to administer the test. it would stop the funding of this wacky ridiculous personality test and that's a serious issue because it would force the faa to hire 3000 people who passed the cognitive exam but have to go back to the people. stuart: you did it. the adam shapiro bill. stuart: at 2:00 p.m. randy hopper and what beyond the intelligence report. today 2:00 p.m. eastern. defaulting on pseudo-bonds is the way to go. just default. that is what lee siegel said he did in a "new york times" article stating here's the quote, i chose life. that is to say i defaulted on my pseudo-bonds. as difficult as it has been i've never looked back. the millions of young people

today who collectively over $1 trillion in one may want to consider my example. joining us now ashley pratt and charlie cook. to you charlie first. look at the morality of this. mr. seagal just walked away from his obligation to repay his student loan. what do you say? >> yeah there is an incredible more liability. i do not endorse or advocate people who default on their student loans. what concerned me most about what he wrote in this op-ed is just just how casual he was. i honestly thought it was an onion article or satire as they read through it. if your credit starts to get destroyed don't get too alarmed. just keep on walking through it and you can marry someone with good credit later in life. it goes to the root cause this is one of the biggest issues of our generation that it affects us in such an credibly negative ways that you see such

ridiculous solutions to walk away completely and leave the taxpayers on the hook because these are administered by the federal government. stuart: ashley pratt what do you say about the morality? >> i agree. i don't recommend defaulting on loans. that reminds me have to pay my loan repayment this week. i have been paid them since i graduated. the thing that is so frustrating when you come out of college you don't have the job you want to have 20 years down the road and you might not be making that much. do you still took out the financial burden and you have to pay it back. it is an obligation. to say you want to live life is great. i wish i could do that too but i have to budget what i make and i have to budget to have to budget the build file along with the debt i owe back for going to school. i think that is something you have to factor in when you take out a loan and i wish i had known when i did it.

stuart: that is the morality of it. i want to go to the economics. if a lot of people did aggravate their student loan didn't repay it, maybe that would be good for the economy because an awful lot of young people what not to pour money back to the government and they can get out there and work and spend. what do you say? >> it's almost like everyone goes at once. in reality we need to get to the root cause of it. the root cause of white students get into debt is because of failed governmental policy. 93% given out last year was by the federal government. the education get students into debt. washington now wall street is getting young people by making before they start a new couple that with the narrative that is an incredibly poisonous combination. i agree with a lot of young people start walking away, it could really disrupt the economic structure. i would say the whole system and the whole plan is from the

outset. in the way we have government interjecting itself into something privately controlled. stuart: ashley, would he say about the economics? good for the economy, maybe. >> i think it's a terrible idea. personally it is a responsible and if we did that with all of our debts, which is seems like our federal deficit keeps growing. we have all of these things we don't feel the need to pay back the night is the message we send to today's young people which is go to school, have your dream come and live your life and don't the responsibility to pay things back. that is the fundamental issue. what we are told is a message that is fundamentally flawed and wrong. when students take these funds i remember going with my dad and having a second thought to doing it. looking back four years out of college i wish i had up more about it. we had mentioned that in the article as well.

stuart: ashley, charlie, thank you for joining us. we do appreciate it. they will garnish your wages won't they? >> correct. it is journalistic malpractice not knowing your wages will be garnished. >> you will see to the end of the year. government jobs known for cushy perks. government employees are outliving their counterparts. the reason behind the longevity after the break. the pursuit of healthier. it begins from the second we're born. after all, healthier doesn't happen all by itself. it needs to be earned... every day... using wellness to keep away illness... and believing that a single life can be made better by millions of others.

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and find answers to your questions. you can even check your connection status on your phone. now it's easier than ever to manage your account. get started at xfinity.com/myaccount stuart: and we've got an interesting setup coming here. the dow was up 247 points. germany is offering a staggered repayment plan for its debts. not sure the details on this but it's enough to make up the market goes substantially higher 1.5%. we also have a nice game for the price of oil. it is up nearly a buck. almost $61 per barrel. look at this, please. netflix closing in on $700 a share at $37 as we speak.

charles payne moments ago. a new study for the center center retirement research finds government employees more likely to outlive private sector counterparts. lives, does that mean government workers live longer because they get better pay more perks and you can't fire them. >> they are better educated. that is what the study found. you're less likely to die if you work for the government. they afflicted people age 50/50 five to 64 and 11 years later the same cohort found you work for the government or the site to have been dead by that time. one person worn by simply applying for a government job will not add years to your my but the work is boring enough it may feel like it. >> couldn't affects any of the jobs in the office where the other part of the world you might be in a factory setting could be faulty in that respect. >> that's a great point. she had adjusted for that.

when you are educated and make better choices about your health care. stuart: education accounts for more than anything else. president obama bypassing congress using the pen and the phone to push an agenda. he signed an executive order to people eligible for overtime pay. steve odland on not after this break. >> in this case the president has as we continue to see left himself in the course because he has resorted in so many occasions to expanding executive power and conjuring new authorities for himself.

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. stuart: up 257 points now. positive for the year. germany may offer a staggered repayment debt deal to the greeks. that's why we're up a quarter -- i'm sorry 250 points. and federal appeals the labor law does apply to casino in northern michigan, thus the casino cannot block labor organizing by its employees. liz macdonald, does this have national. >> yeah. big deal for casinos, basically those

casinos, it's a $28 billion business 23% of all casino run by indian tribes they say this is our right, he willer owed our profitability, but the judge here said, no, because your employees are not members of your tribe they're separate from your tribe, and the relations board at the union said you must be able to let them unionize . stuart: nontribal members working casinos will be able to unionize. >> that's what this judge know judge just ruled. . stuart: that's a big deal. you're right? >> and the supreme court said the indian tribes have sovereignty here dating back to the 1800s so it's a constitutional level as well . stuart: but they still can't object to labor unions coming

in and organizing their work force. >> that's what they want . stuart: and the judge said, yes, you can come in. >> the judge said you can come in . stuart: okay. all right. >> sure. stuart: president obama using his executive power the pan on the phone as we call it, to raise the salary levels required for over time to be in effect. this could affect businesses, millions of workers too of course. with more this, the economy. steve. steve, you used to run office depot, if you were still running office depot, and the government said, hey you've got to pay over time money for anyone he didn't over $52,000 a year, what would you do. >> well, this is the case one more time, stuart, where the government is ladling more and more expenses on businesses. these ceos and the small businesses owners with these rules and the increased cost. you know, their shareholders and owners say well, we'll

give you a pass on these earnings, they want the earnings to go up, so when the costs go up, they have no other choice but to raise costs elsewhere so some people will make more, but they will be forced to cut jobs cut hours automate in certain circumstances and take costs out in order to not increase costs. so you're hurting the very people that you're trying to help. . stuart: it seems to me that over time pay has now been extended to management team. management people on salaries, for example, they were surely immune from the over time rules because yeah, they worked off the clock at night sometimes, they picked up the phone at 9:00 at night, but they were management. that now destroys that management leg up, doesn't it. >> it does. well, certainly what you're doing as you are converting a whole bunch of people that were salaried into hourly workers . stuart: yeah. >> and when you do that, then you have to start punching a clock and track it. and business leaders then will

reduce the hours to those people. but, look, this goes -- it's the same thing with minimum wage. it's the same thing with the all the rules that are coming down next year with aca the obamacare act. all of these costs, all of these rules are just hitting businesses and, you know, we're sitting here with the one of the highest levels of unemployment 10, 11% the lowest number of participation rate in businesses, and it's all because of businesses are not creating jobs and they're not doing it because they don't know what their cost of labor is going to be. . stuart: it's going to be politically popular, isn't it? if i'm making $30,000 a year and i can't get over time pay and the president says, oh, yes, you can, i'm going to give you a pay raise. that will be popular. will it not? >> at one level sure. you know, all of these things look popular when it comes out? stuart: sure. >> who doesn't want the american dream? who doesn't want wage growth?

but when you look at what actually happens in this there isn't wage growth, it actually goes down, there aren't new jobs being created they actually go down and -- go to any store today a drugstore, a grocery store and the whole end is automated, shelf checkout, those used to be jobs there. no longer, and this is what's happening in america today . stuart: not the mention the whole president of whether the government should be legislating jobs. >> thank you . stuart: i've got an odd come for you. [laughter] i'm not part of the couple. pope francis meeting with putin at the vatican it's the second time they've met. look who is here. >> i thought you were talking about you and me . stuart: we would be the odd couple. that's true. now, i think this is precisely the person who pope francis should be meeting with because pope francis is in the

business of saving souls and surely he's in the business of saving -- he's not an economist, current dictator. >> yeah. i think i agree with you on this, stuart. you know vladimir is a very, very odd individual, the rumors about his personal behavior from torch torcher and murder are extraordinary yet vatican sources have revealed that wherever he travels, aeration orthodox priest who is his confesser accompanies him and says mass wherever he travels. now, i don't know of any other head of state -- any other christian head of state i'm unfamiliar of those who are in other religions and personal behavior, who has does that or who has revealed that. so it's very interesting. at one point you have this exugba agent who is going to invade ukraine and five minutes later he's going to

mass. this is a very complex multileveled individual. is that to my view reinforces the wisdom of what you just said. yes, pope francis is the exact person who should be meeting with vladimir. i don't know if they're going to be talking about god or maybe he's going to talk about why you invaded ukraine. go home. get out of there. stuart: i don't know how they asked him, but they asked him to talk about ukraine which puts pope in a political position. >> yes. this is how they would do it. john kerry to the vatican to a cardinal who was the vatican's secretary of state. . stuart: okay. >> and i'm going to guess it is there -- first he's multilingual and the pope is not, i'm going to guess that he's at those meetings . stuart: it's not just saving

putin's soul, it's also asking the political question . >> rye . stuart: question. who was the last leader of russia to attend daily mass? answer slaughtered in the basement . stuart: is that true? >> yes. stuart: now, where that you that you get? >> it is well known in the vatican, and i don't know if he revealed it, or if it was just observed. . stuart: so you're saying that vladimir putin looks like a practicing christian. >> i'm saying vladimir wants to give the impression that possess. i don't know if it's real because i don't know what's in his heart . stuart: right? >> and are looks can be deceiving, but no one else does this . stuart: no, they don't. that was a shock. that was original information judge, delivered -- >> nothing controversial . stuart: i was going to ask you

about the big split between the orthodox church and the catholic church. you don't know anything about that; right? >> i do know a little bit, i don't know how much you want to get into it, but the pope has also met twice with his counterpart in moscow in roam, because one of the infallibility of pope . stuart: and there's also the -- >> yeah. you don't want to get into that now, do you? . stuart: no, no. no. thomas more irrelevant. henry the 8th is what we should really talk about. but he's a monster according to you so we're not going to talk about it. >> he's a monster according to history, he slaughtered wives that couldn't produce male children . stuart: times up. [laughter] your history lesson for the day is over, ladies and gentlemen. this could be a medical break through, yes millions of people suffer from heart disease, the fda recommending approval for new cholesterol

drug cholesterol lowering drug i should say. we have a cardiologist on next. and cavuto is on. what will effable to make fun of me today? >> tell varney what he did yesterday he is my hero. >> you're going to -- >> i don't like it, but terrible what he did yesterday. i think varney is a great american. >> he's from brooklyn. did you know that? >> stuart varney? >> yeah. >> he has a phony accent. >> brooklyn australia?

>> i'm anything ol' for your fox business brief. take a look at the stocks gains across the board. where to begin after four days of selling and over sold markets? the dow bounces back. the ten-year bond, 2.47% the german boom, 1%, and traders tell me now the glass leg that we just saw here? well, that's may be because there's a greece deal in the works and raising the cap of emerging funds available to greece. and looking here at financials, you like the financials? well, how about their new highs some are all-time highs the dow has been up close to -- about 280 points. winners there and wells fargo continues growth, goldman sachs economic recovery, and gopro, they had to lower the earnings per shares, finding less interest in some of the

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stuart: cyber if he would sounding off on political correctness. this is what he had to say on late night with seth meyers. >> do you feel the same way about comedy. >> yeah. but they keep moving the lines in for no reason. >> right. >> i do this joke about the

way people need -- justify their cell phone, i need to have it with me because people are so important. >> right. >> well, they don't seem very important like that way you scroll through them like a gay french king. [laughter] and they thought what do you mean gay? what are you talking about gay? what are you doing? what do you mean? there's a creepy thing out there that really bothers me . stuart: yeah, look who is here. neil cavuto is back and this creepy pc thing that -- you know neil, i think you and i are in total agreement about this. are we not? >> i think on this we are. we're a little too pc driven, and anything that boarder line offends, there's a tenancy in our society to pull back, lower the anchor or correspond who says something politic on air and doesn't pay dealer for it later on . stuart: so hold on a second. was it politically incorrect

of you yes to label me an australia? >> no. stuart: . stuart: yes, it was. >> no, you're begging the point that seinfeld raised. i think maybe you're a little too thin-skinned. maybe you have the problem . stuart: oh. all right. check this out. my interview with gas lamb director josh fox. apparently this is one of the top trending new stories on facebook. do you have anything on your show later on today that's going to knock me off many at that list? >> no. not today but i've got two hours so i'm sure i'll find time. but, you know, whatever is said stuart, is said out of deep love and affection. no water what country or plant you call home, so i want you to know that whatever i say is deep admiration, as would be the case with any young journalistic looking up to his yoda of finance .

stuart: that was very good, neil. >> well, i love you like the grandfather i wish i knew better. [laughter] . stuart: i had -- i do indeed have nine grandchildren. >> that's great. now that's great. and, you know, i think all kidding aside you're a good egg, you're a good person, you and i have known each other many many decades and many, many events and you're as good as they come. unfortunately, you're not politically correct . stuart: can't you take a time could you? you're 12 minutes up. >> no one is giving me a time cue . stuart: i told them to. >> that's an antiitalian thing right now . stuart: absolutely was. >> making note of it . stuart: see you later, neil. >> okay. great . stuart: now this hot disease the number one cause of death in america and 73 million americans suffer from high ldl cholesterol, that's the bad cholesterol. a new drug has gotten fda advisory approval, but only for those with very high levels due to genetics, so

it's a low marketplace. and doctor who is with us in new york. welcome to the program. >> thank you . stuart: first of all the advantages of this drug. >> it attacks cholesterol in the different way that statins did, this particular new drug class tends to remove it through the liver. so these -- what's called pcsk 9 inn inhibiters will have an advocated affect . stuart: would you say that this is a break through. >> it's definitely a breakthrough. i've discussed it with cardiologist in manhattan, and the break through as the can further lower cholesterol beyond what the statins do or people who don't tolerate statins . stuart: you would have to take it every day for life. >> at this point it's injectable. two times a month. so that may be a negative as

far as people taking it. i think they're working on an oral compound. the other negative it's very expensive looks like, and this is going to be where a lot of the action is going to -- stuart: we've heard $10,000. >> it's written about $10,000 a month. but there are a lot of companies working on this, and this competition be hopefully this can bring the cost down . stuart: now, amongst the cardiology profession, you've obviously been in touch with your colleagues, this is good, we like this, this is where we're going we like this. >> so i've discussed it with a cardiologist in new york city and the biggest is cost. if they're got an approve this had to general use it's going to be an issue. if they are it's going to cost anywhere from 16 to $150 billion a year at heth care cost based on $10,000 a year given all the people who potentially could be prescribed. so what the fda is doing is

recommending it for a very select group of people called genetic cholesterol. i think we're waiting for some of the studies in the next two years to see yeah, we know it can bring down cholesterol but does it dress the amount of heart attack and stroke? we don't know that answer yet. is it going to save lives? and that's the big question and it's going to be take a couple of years . stuart: doctor we appreciate your expertise. >> thank you . stuart: a therapy dog. yes, a therapy dog named chopper, there he is. he goes to old folks themselves cheer them up. now he's having his therapy license revoked because his owner dresses him up like a biker. yes, we have chopper, we have the owner after the break. the dow is up 240

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stuart: get this. a dog in california stripped of its therapy license because he wears a biker costume during his visits to old folks homes. the dog's name is chopper his

owner's name is mark schaffer. both of them join us from california. i find it a little surprising that an old folks home would ban chopper because he wears a costume. is that what happened? >> well, actually the old folks home that you call it, nursing home, hospitals hospices you name it, always open their doors and welcome with open arms. they absolutely love chopper and they love what he gives to the residents at these homes and hospitals. it's the organization that i've been registered with for ten years as a -- with chopper as a therapy dog who suspended his registration, basically gave him the boot after being there for ten years because they're concerned about the perception these giving the community about therapy animals . stuart: now, wait a second. is it because he wore a baker

out fit or any kind of costume at all? is it the biker outfit? >> the term they used is they have in their rules and regulations that you cannot dress your dog in a costume. and chopper's costume consists of a vest and a bandana around his neck. and when he's on his little motorcycle he wears his little goggles. but you can see there when he interacts with patients, all he has is a vest . stuart: well i hope the organization relaxes its rules because chopper is a fine therapy dog doing a lot of good to a lot of people. thank you for coming on the show sir. i'm sorry it's such a short time. i hope they relax the rules or change them. mark thanks for joining us. we won't appreciate it, sir thank you very much. >> thank you . stuart: more varney after this

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called a staggered deal for greeks and up goes that market about one and a half%. any time is up. neil it is all yours. >> thank you stewart. we tell you here we don't necessarily follow the move early sign that it could be warranted we have a healthy advance in the corner of wall and that has to do with the prospect it is that germany could be behind the big deal that could benefit greece you've heards that before. we don't want to jump to any conclusion but a key catalyst might have been a surprising jump in mortgage applications a sign that people are seeing interest rates backing up and getting off fence and mitting to housing. that could be a very bullet signal for the economy. technology is also looking very strong right now in dallas up close to 3%. you know how that goes. technology can start to rear its battered gear and drive us out of this. that could be a welcomed development. we're exploring all of that and this prospect of how rising interest rates c