one of the issues at oracle. thank you for joining us dagen and charles. have a good day, everybody. tomorrow we'll talk with rocky wurtz and the champion blackhawks, see you. have a good show. stuart: talk about radicals. they're popping up all over the place. let's start with candidate rand paul. he calls it the fair and flat tax 14 1/2%. no social security tax, death tax gift tax telephone tax, no deductions that's radical. and pope francis has gone far left green. save the planet and fix the perverse economic system otherwise known as capital limb. part of this radical and cyclical may be read in churches worldwide. 600 million samsung phones open to hacking. is there anything private or secret these days? take out the $10 bill in your

wallet. hamilton will soon have female company. "varney & company" is about to begin. ♪ >> these people were in church. they were in church and they violated the sanctity of man. the ramifications, are we beyond just what happened tonight. this is just unacceptable. >> nine people shot dead late wednesday at a historic african-american church in charleston, south carolina, a white gunman walked in during a prayer meeting and started shooting in what authorities are calling a hate crime. he's described as clean-shaven 20 years old, sandy hair and a slender build. here is the news conference from this morning. roll tape. >> this is a situation that is unacceptable in any society and

especially in our society, in our city. this is a very dangerous individual and we do not want more people harmed trying to approach him or trying to follow the vehicle. stuart: federal officials now opening a hate crime investigation. president obama expected to make a statement on this sometime this morning and we will carry it for you. now where is that market going to open 27 1/2 minutes from now? take a look. janet yellen down grades her economic forecast for this year. rates, however, interest rates may still go up this year result, we're opening probably 50, 60 points higher in 26 minutes' time. now this the pope officially releasing his cyclical a manifesto by any other name putting the blame on humans for climate change doomsday

predictions cannot be met with disdain there can know the be a renull of nature without renewal of humanity itself to fix the perverse economic system, all of that is what he's saying in the kick clal. you've got more on this? >> the cyclical is a teaching document as it's own in the catholic church. basically the rich are exploiting the poor and turning the earth into an immense pile of filth says the pope. stuart: wow. ashley: it's strongly worded a huge indictment of big business and climate deniers saying it's the rich's fault for exploiting the poor and the earth itself in order to boost profits. conservative catholics certainly criticizing the pope saying why are we concentrating on the environment and climate change when we should be looking at issues of abortion and same-sex marriage and traditional issues the pope should be weighing in on. stuart: i think the pope has gone left and green and i think he's going to--

he will transmit this message all the way around the world and president obama is very much in sync with that point of view. ashley: he is very much. it will be interesting to see what that does for conservative catholics in the united states and how they approach this. stuart: republican presidential candidates who are catholic, how do they react to this from the spiritual leader of the catholic church. one more point, you want to fix this, as he calls it perverse economy fixing capitalism. he's ignoring what a form of the capitalism has done for china. 300 million people lifted out of poverty to the middle class. and in india. >> what it's done ruined and threatened everyone's life. as mr. obama-- >> that's radical statement number one. move on. this got to me i didn't know anything about this until i walked in the office this morning. 600 million samsung phone

owners vulnerable to a hacking attack, a flaw in pre stalled software gives hackers access to everything on the phone. christina we drafted her in from mashable because she understands that. that's incredible. every samsung phone is open to hacking? >> 600 million are, it's built into the keyboard. it's not as if this is something you can uninstall, this is the way that software they've installed on the custom de keyboard, the way they've installed the software leaves it open to attack. stuart: we've graft in the software in the keyboards and something in the keyboards that lets other people hack into that and expose everything on my phone. >> basically. and also because the keyboard is such a low level of computer terms has low level access to the system conceivably, to be fair, it would be difficult for someone to exploit this, but

certainly not impossible. you can have access to everything you type and potentially access to all the programs on your phone. ashley: i'm going to say, if i own a samsung phone right now, what can i do? >> unfortunately not a lot. they're looking about-- samsung is going to be issuing updates in the system. and galaxy 5 or s 6. stuart: does that mean i could download new software for the phone that would fix it? >> we're hoping so, but probably not because of the way the carrier system works. it's a mess for samsung and it's something that really needs to be taken care of. >> i wish we could quote samsung stock. and i don't think it's traded, but i have to-- i have to believe there's an enormous cost involved to fix this. >> and they've known about this apparently for some time. a report said they told the security researchers, we need a year to fix this. stuart: no, it's not. stay right there. a lot more for you.

the president needs the republicans to cement leg legacy on trade. and blake burman from washington, i know it's a fast track part of the deal. will it pass? >> stuart it's believed that this should pass, but there's really no guarantees here and here is why. the fast track trade authority, the president is speaking with essentially-- here is the analogy, it's super glued to another measure, trade assistance for negatively impacted workers, when the trade vote went on friday the authority went with it. the solution is to make the super glue more like velcro. they're no more conjoined and trade authority or t.p.a. traded on first. and the house that passed the t.p.a., a show boat by the slimmest of margins, so this revote coming up can't suffer many defectors. stuart: bottom lines, the president needs the republicans to help him get his legacy

going on this one because the democrats aren't going to do it for him. >> that's right democrats on t.p.a., last go round only had 28 votes, there were more than 190 republican votes as well it remains to be scene, stuart if that will be the exact breakdown from later today. we're expecting that later on this afternoon. >> this afternoon, we'll watch. blake, thanks very much indeed. look at this everybody, this is a live look at the supreme court set to issue more opinions today. the opinions include key decisions on obamacare subsidies and gay marriage. there are other decisions as well. those are the two principal issues of which there's interest. as soon as they come out, you'll know about it. >> and then we have fitbit. selling shares first time ever. there's an ipo. i've got a simple question, who buys these things in the first place. fortunately christina is here. >> it's widely ranging.

and probably late 20's well into people in their 50's and 60's, it has a wide target market. most people 28 to i'd say 45. stuart: here is my problem with them. i don't have one, probably not going to buy one but my problem is i understand that about half the people who buy them stopped using them. stopped wearing them after a relatively short period of time. >> that's true. ashley: it's like a gym membership. >> similar to that it is. you buy it with the hopes it will help your workouts and track your activity and so people keep up with this and some people don't just like anything else. because it's affordable enough they give them a shot. i got my mom one in 2014 ap-- and a year later, still wearing it. stuart: and how much are they. >> they're hoping to go against apple and some of the other companies. stuart: much more on that

coming up and a lot more stories we want to get to including a huge new valuation for air b and b. in case you missed it-- >> air bnb, looking to close a funding round, valued at $24 billion. 3 billion more than marriott and they've been telling potential investors, more than triple what it made two years ago. and forget it that's what an airline group is saying just a week after it recommended smaller carry on luggage. agents say carriers of north america hated the idea so much they're proposing keeping carry-on bags the same size. stuart: short those luggage stocks. >> one lucky lady will be the new $10 bill in 2020.

don't worry, alexander hamilton will be there in some way. if you want to pick the woman joining him, #the new10. by the way, there was a push to put a female on $20 bill, but the $10 is the next one that needs a security update. stuart: if i go and vote does it count? or do they say, oh we've got so many people for rosa parks and-- >> that kim kardashian is going to be the winner if if you go that route. >> no she has to be dead. [laughter] and has to have historical prominence, something like rosa parks. stuart: the vote counts does it? >> it does count. remember they were trying to put her on the 20 and that was a major vote, but alexander hamilton is the former treasury secretary. first and. stuart: the first. >> first and former. [laughter] >> everybody, listen up

please. senator rand paul presidential candidate, he says repeal the entire tax code bring in a flat tax. where have we heard that before? >> what would you bring down the top rate to? i think ronald reagan was 28% as i recall back in the early 19-- >> that was pretty good, but i'd go lower, in the teens and it will be the most dramatic shift in the taxation policy of our country, the biggest simplification, biggest tax cut in our history.

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>> a deadful story from overnight. a shooting in south carolina and the shooter at large. joining us on the phone, sir, you knew the pastor. i believe this was reverend pinckney. tell us what kind of person he

was? he was among the dead. >> well stuart in the south carolina senate we are a-- we have 46 members-- we really are like family so i just want to start by saying senator pinckney is for us in the senate like losing a family member no matter what-- we may disagree on issues, but we all had tremendous love and respect for one another and senator pinckney was a very compassionate and gracious individual individual. he always carried himself with-- had a great demeanor and was very committed to his pastoral duties. duties. >> was he prominent in the civil rights movement? a prominent leader african-american in charleston?

there's been an immediate suggestion, the shooter was white the victims were black and it was stated there was a hate crime. do you have any comment? >> i don't know the shooter's motives. it's hard for me to conceive of a murder of any murder in which hate is not an element, unless it's simply insanity. and so i don't know what the shooter's motives or mental state was. stuart: i take it the community is in shock at this point? >> that's correct. and you know we have-- charleston -- i'm confident that charleston will come together and deal with this tragedy like it's dealt with many tragedies. stuart: chip campsen who knew reverend pinckney. thank you for joining us on a difficult day, thank you, sir. >> thank you. stuart: i'm going to go back to candidate, senator rand paul.

he wants to repeal the entire irs tax code. 70,000 pages of it gone. bring in a 14 1/2% flat tax for individuals and businesses that must be music to the ears of our friends the libertarian judge napitano. >> and music to your ears mr. london school of economics, stuart varney. stuart: i like the idea and it will never happen. >> let's look at it. will it not generate a lot more economic activity and will not that economic activity in turn generate tax revenues for the government? >> absolutely. >> and is that argument not appealing to rational people in congress? or i'm assuming that the people in congress are rational and that's an assumption. stuart: the immediate response is it's a massive give away of our money to the rich actually

it's not because no one could avoid paying 14.5%. today some uberrich avoid paying all taxes. stuart: and actually it will be a tax cut for everybody who works because he wants to do away with the payroll and the social security. >> you say it will not pass. if there is a political concensus in the country to elect that man president of the united states which may not exist today, but could exist by november 16th wouldn't one logically conclude there's a political will in the country to enact his policies? >> of course, but i think the more important impact of what he's just-- in the wall street journal today i think he skews the debate. >> yes yes, it wasn't too long ago that if a politician or a pundit on tv suggested getting rid of the irs, it was laughed at. it wasn't taken seriously. now this will be a seriously part of the debate and people will find it immensely appealing.

you know a single human being who has read the 70,000 pages and understands them? i don't think a person like that exists on the planet. do you know a single human being who would not favor a tax return the size of a post card instead of the varney tax return the size of a telephone book? >> an enormous number of people would say, look i'm not going to get as much as i used to get from the government. the other side of the fence are going to get more i don't like it. >> that's what's going to come from the government rather than retain what i've learned. get from the government. stuart: that's the way they will see it. >> that's the way the government has induced them to think. stuart: that's correct. >> and maybe senator paul will change that thinking? [laughter] >> i'm with you on this. back in a moment. up next a near miss at a midway airport in chicago. two planes taking off at the same time intersecting runways, details of tense

moments there coming up next.

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a separate story now, there's now going to be an investigation into the hiring practices for air traffic contollers. adam shapiro has the story. you broke this story, adam. now they were trying to shoehorn people of color into the air traffic controller's tower and you caught them? >> they changed their hiring practices and what we uncovered was cheating in the hiring procedures and corruption in the f.a.a. which they will not respond to. we've called them every day since may 11th, but the press office is out to lunch and busy. there was a demand that they respond to the questions raised by our reports. and f.a.a. sent out a letter yesterday. michael ware i'm troubled by recent news report,controversy during the hiring process. 's assigned it to an internal office within the f.a.a. who has no authority to do that and mr. lobiondo says that's

unacceptable and the department of transportation says the inspector general will investigate the f.a.a. it's a mess they can't get away from. stuart: you did it, you stood it up there. well done shapiro, well done. >> thank you. stuart: today the public can buy shares of fitbit for the first time and the opening bell is next.

>> the opening bell is cheering and clapping and the opening bell is about to ring. we'll see the way this market goes. i believe we're going sharply higher as soon as trading begins and it's now begun. i'm looking for a gain of 70 80, maybe 90 points in the first few minutes of business. we're off 24 25 thank you, away we go. joining us ashley webster, cheryl casone and scott shellady in chicago. and anthony is an investment star right here. >> yes. stuart: and first to you, scott shellady. hidden in the fed's report was the statement that the economy will not grow as fast as expected this year. she is downgraded growth. have they been listening to you? >> well hopefully they are because i don't think this they're going to raise rates at all. we should stop using the terms, the economy is getting stronger, or strengthening or we've got some sort of

lift-off. i think the economy is just less bad. it's still bad, stuart i don't think that you can take a look at the last six months and say all of our economic figures have been ripping the cover off the ball. i'd say right now we're still slow. yes we're not dead, but slow and remember last quarter, we contracted and we're talking less than 2% gdp for this quarter. things aren't good and we take a red ribbon and wrap the world around that problem. >> understood. anthony scaramucci this is all about ordinary people bring it back to earth so to speak. if the fed raises rates late this year early next year what does it do to mortgage rates? >> spreads will widing and make houses more expensive, and. a crisis we have 13 1/2 million home owners paying

rates at 5% and can't afford to refinance. you've got the slowdown in the economy and the fed overestimated the economic owth by 90 basis points all of these reasons, plus what they hear from christine lagarde, i really do believe that they waited until march of 2016 before-- >> mortgage rates, good point about that. we've seen mortgage rates begin to tick up higher. that trend is not going to reverse itself. if you want to refinance, get in kick because the environment is changing. >> look at the market now we're up 100 points and that's about interest rates. >> i'm sorry, i don't want the buzzer, but it's about the federal reserve. >> remember something about our economy the growth comes from the small businesses. 60% of the small businesses stuart are tied to housing. what cheryl says about mortgage is super important. the mortgage rates go up and slows down the housing environment and it's going to further slow down the job growth in the middle of

country. stuart: that's down the road a little bit. i want to break in for a second and take you to the house floor they've begun a procedural debate on the trade bill. this is the debate before the vote. the vote is expected around 10:00 eastern this morning, maybe a half hour from now. the second vote is the big one, that should be around 11:45. what they're voting on is fast track authority for the president to conduct trade associations with other countries. if it passes it will have to pass with a lot of republican support. in other words, it will be the republicans bailing out president obama, a democrat for his trade legacy going forward. we'll keep you up-to-date on what happens. it's touch and go whether this trade vote passes or not. you'll know about it. another breaking story that we are monitoring closely, the supreme court, two possible rulings today, obamacare, subsidies and same-sex marriage. obviously, this is big news. we'll bring it to you when and if it breaks got it. now the other one, other big

news, fitbit it starts trading today. okay. the trading range, 'cause it's going to start trading for the first time. $25 to $28 a share. [laughter] >> that's cheryl by the way. >> oh. stuart: all right, all right, all right. >> sorry, sorry. stuart: the trading range, 25 to $28 a share, that's before it actually opens. and the offering price, it opens above that. here is my problem with fitbit a lot of the people buy them and start using them every few months. >> well it depends on who-- there's core audience. i'm a part of the audience i'm athletic. a part of the fitbit and testing it out for you, stuart the last 48 who yours, and we went running in central park and our research for "varney &

company." i think that apple is going to be the spoiler alert in this. the apple watch, because i've now worn both and tested both i think that's the only question mark about this ipo today. i think it's exciting, but i think that apple might spoil the party at some point. stuart: are you going to spoil the party, ash. ashley: i think it's an overcrowded market. they need to add innovation otherwise it's going to drift away without much hoo-ha. i don't think there's a whole lot to it. >> it's cheaper than the apple watch. stuart: and that's the fit, you can see it on the screen there. now it's 28 to 31. that's what we're hearing about the opening price. you're nearly a billionaire, anthony. >> nearly. a multiple billionaire, yeah. and here is what i tell you about the fitbit. there's a niche for it like planet fitness, the low cost

fitness they could be the blackberry, hot for a while and cool off. i would stay away from the stock if you're an investor. >> i think a lot of average investors will pick up fitbit. a lot of average folks can understand it it's a product, i can touch it. stuart: there's a lot of activity around the trading post. this is the first pure play in wearable computing power. i think i'm right in that. nobody else has a pure play. you can invest in wearables. >> garmin is part of this. they have wearable technology so garmin is a piece of it. jawbone, not yet. stuart: bottom line if they open up 28 $30 a share, that makes the company worth, i believe about $5 billion. i think i'm write in saying that. that's a lot of money. >> it's a lot of money, but relatives of the other crazy valuations out there, stuart

it's digestible by a bigger company. you can see a facebook an apple somebody taking it for the lower line fitness activities monitored. stuart: you know you rarely do you see so many people on the floor of the new york stock exchange, which has gone all computer, just about. the crowd, such as it exists is right around fitbit right now and again, 28 31 that's the likely opening price, okay? likely opening price, but it's not open yet. that's just the indication. >> talk to me about an hour or so before we actually see trading on this one. stuart: the new york stock exchange is going to weigh in with the incoming shares and-- >> we're expecting 10:30, that could be delayed. 11, 11:15. looking forward to. stuart: if that crowd of people is our own jo ling kent who is covering the ipo at fitbit. there is a lot of interest is

there not, jo? >> there's a lot of people wearing the devices. the buzz on the floor, what will actually happen stuart after the stock opens, off three months passes after the apple watch gains steam. there's more than 2 million sold since mid june for apple. fitbit raised the range 28 to 31 and we're awaiting the first trade it was expected 10:30, but it's a company the ceo made 20 million coming into this morning based off the shares he's already sold and he's planning to make a whole lot more and we'll have that interview for you around 10:30 eastern time. but fitbit certainly raising a lot of money. trying to get out ahead of that competition. like garmin and jawbone and facing lawsuits and so many challenges. stuart: watch out, jo. it's not certain, but they might open before 10:30 because

the price range is just narrowed. now i'm hearing 2850 to 29. >> that's right. stuart: they're narrowing it down. there's a real sense of excitement. that's unusual for the floor of the new york stock exchange and the dow industrials are over 100 and fitbit a way above the opening price and you're in the middle of crowd there, girl well done. >> there's a lot of excitement absolutely. stuart: i love it. >> and she's got the ceo coming up, by the way. >> that's right. >> watch out, jo ling kent. stuart: already made 20 million. have you got any comments to add, a young man, a billionaire. i'm calling you a billionaire. >> and african billionaire. stuart: what's the capital of zimbabwe. >> i don't know, i'm going to be the chairman of the show before i'm-- >> the disney animal kingdom. stuart: let the billionaire speak, says my producer.

[laughter] >> i think when you see that kind of crowd at the new york stock exchange for this kind of an offering you have to worry about where we are in the market and you have to worry about the foam at the top of this technology bubble so. >> whoa. >> what you're seeing in the venture capital space is exaggerated valuations. we're going to get to airbnb i have a lot of information related to that. >> it depends on the company, that's the big thing. >> the great irony, you have uberover 50 billion, fitbit at 5 billion. that number 5 billion is not crazy on the relative scale on a crazy scale. stuart: let me bring in airbnb trying to raise another billion dollars which values them at 24 billion total, which is more than marriott which means the sharing economy at bnb is into conventional lodging company. that's extraordinary. >> that's ambitious, yes, think

about this for a second. why they're going to get that valuation, stuart they're going to be bigger than marriott. bigger than height and hilton combined and they're going to have no capital infrastructure because what they're going to do is the same thing that uber has done. they're going to bring on this real estate for no cost and be the intermediary. >> and the global market they happen to be at 10% to generate the revenue. >> how many cars does uber have on the road. why do you think the traffic is so bad. stuart: you're a believer? >> i'm a believer in the long-term concept, but have you tried it? my son booked airbnb in malibu probably on my credit card, but it was an unbelievable experience for him. it was a brand new house right on the beach, $695 and they get a nice share of it. they get 10% of the revenues off the top of those houses on those rentals and they have no

capital expenditure. so you've got to think about, their margin capability over a hilton, over a marriott. >> marriott's trying to get into that by the way. stuart: your son went to malibu, california, very wealthy area and went with airbnb and got a house in malibu. >> $695 a day. stuart: 695 a day. >> remember what happens a lot like stub hub, a lot like pricing mechanism. the house kept lowering in price, the people were out of the house, they want today get some replacement dollars for the house. so he was surveying the landscape on the web. put a bid in got hit on the bid and flew from san francisco where he works at google down to malibu for two days with his girlfriend on my credit card. stuart: i don't think there's a single stock i can invest in which is a pure play in the sharing economy or is there? i don't think there is. >> okay this is pretty close though. uber is close. >> you're talking publicly traded. i can't think of any.

stuart: i don't think there is one. we're locked out. the insiders hold the stock in uber, airbnb and the rest of them and make a great deal of money. when they do an ipo the rest of us can invest, but not now. >> marriott you can buy shares of marriott. and marriott is getting into it's know the a pure play, but they're not going to like take this standing down. or lying down excuse me. they're getting into the share economy as well on a much smaller scale than airbnb. there's competition. stuart: let's bring everybody up-to-date. we're roughly up 100 on the opening. and fitbit opens in the next hour we believe. a likely price for fitbit it's way above the opening the initial price offering. i've got to break in again. breaking news yet again, mid day the house is about to vote on obama's fast track trade. bring in congressman darrell

issa. congressman are you there? >> i am. stuart: you are indeed sir. >> i am stuart. stuart: can i straighten something out, sir, house members are voting on a fast track authority for the president and only pass if i'm not mistaken with a lot of republican support for president obama, the democrat have i got that right? >> that's correct. >> when president clinton can nafta the majority of the votes come from free trader republicans that's the case for two decades. stuart: i want to segue to what we've been talking about on the senate, that's the sharing economy. i believe that you are the chair of the house sharing economy caucus is that correct, sir. >> yes, myself and eric from that area of california where uber is based formed the sharing caucus for hearings as today to try to bring sanity to

the new technology that's often attacked by government because it does disrupt historic ways of doing business for the benefit of consumers. stuart: just a second congressman. there was a ruling by a labor board in california your home state, it came out yesterday that uber drivers are employees they're not subcontractors. that means uber's got to pay them social security tax benefits and all the rest of it. now if that were translated into other sharing economy companies like airbnb for example that's the kiss of death. what are you going to do? >> it's not only the kiss of death, but it's the kiss of death for the consumer and kiss of death for those people who want to be contractors. the reality is that this one case, one person chose to be a contractor and then went in with a lawyer to get a reversal of a 2012 decision by that same labor board that found that uberwas in fact only servicing contractors. they don't control these people's hours, as a matter of fact, most people that do

uberare students or have other jobs, the reality is they are contractors, their hours are not controlled by uber as a matter of fact, uberonly requires that you essentially do one job in a six month period in order to stay active. if you're inactive you can be active again. it's up on appeal. stuart: i know where you're coming from congressman. would you stay there? we've got an update on fitbit. i'm not sure if it's open or not? >> no we're not open yet, but a new number looking at $29 a share coming off the $20 pricing last night at 4.5 million shares available. morgan stanley is saying they're shopping the entire street. there's a lot of buzz on the stock. let's do the math we know that the ceo co-founder came in making $20 million as of last night. he's going to make at $29 a share 522 million more dollars

today if this opens around $29. so the buzz is very much happening here on the floor. we expect it to start trading right around 10:30 and we'll have the ceo interview as soon as it starts trading. stuart: i can't catch that. say that number again, how much has the ceo made already? tell me. >> already coming into today he's made $20 million based off the pricing last night. and then today, we're looking right now at $29 a share, so far for fitbit it's not final, but if you do the math he gets $522 million based on the $29 a share price, plus the 20 million he made last night. talking $542 million. stu that's half a billion dollars. stuart: big smile, everybody. and jo we'll come back to you soon. i want to update the markets because we've got a little extra leg up on the rally. we were up 100 and now up 141.

18,000 were over it and the dow is now positive for the year. this is-- there's something-- is there something else going on here? we've talked about interest rates probably not going up until late this year or next year. what about the greeks? what about-- >> less than 10% did they exit the euro. and so-- . the finance ministers are meeting right now. and we hear that hopes are not high for a greek deal. so why-- >> okay so the perception and reality there's no-- when you look at a diagram or a nash theory diagram, every box points to them staying in the euro and then getting some bailout relief-- >> we're awaiting supreme court decisions coming up maybe in the 10:00 hour one of those decisions could be on obamacare subsidies. congressman darrell issa has been generous with his time and still standing there so we appreciate this. >> no problem. stuart: what are the republicans going to do if the

supreme court says no subsidies? >> republicans are prepared with a program of block grants to empower states to come up with programs to replace obamacare if it's struck down by the courts. we think that's a balanced way to work with governors and with those individual decisions to help people who need help with health care in their states. stuart: they would step in with an interim measure and keep things going until we can restructure the whole thing? is that broadly what the plan is? >> broadly exactly that. rather than one size fits all federal program, republicans are offering working with all 50 states and the district of columbia and the territories on a block grant program to help states and territories in the district of columbia come up with programs that individually work or if you will people who need health care. some of the programs within obamacare won't go away. clearly you can't lose your

health care because of the pre-existing condition, you're a 26-year-old staying on your program. those will all stay in place, but the idea of this subsidy no matter what could well be struck down today. >> you know congressman, you're batting 1,000 today. you've got a plan b for obamacare subsidies if the supreme court says no. you're going to vote for the fast track on trade authority and you're going to do something about the sharing economy and all the people who are trying to upset it. you're doing very well this morning, are you not? >> many of those issues are very bipartisan as you know the sharing economy enjoys republican and democratic support, and free trade, although more republican very clearly includes 30 or so very courageous democrats who stay with us on free trade and make it possible. stuart: i just never think of you as a bipartisan kind of guy darrell issa. >> stuarts i'm out of that other job now, you know?

and if we'd had a republican president and i'd had to keep investigating a republican president, people would have called me a republican turn coat. sometimes the job you have is the job that defines you. right now i have patent reform and working on high skills immigration reform and back being able to do things where i can reach out and work on a bipartisan basis when people want to. stuart: it's been a great day for you congressman, i'm glad you shared it with us. and back to jo ling kent and the floor of the new york stock exchange. the latest on fitbit? >> we're right around the $29 a share mark. 5.5 million shares going for sale. you see morgan stanley shopping that stock around the street. the demand is high and the energy around this is high so we're expecting it to open around 10:30, but the ceo co-founder james park he is going to make a lot of money off of this potentially more than half a billion dollars. we did the math for you

earlier, the that math still stands. it's an exciting time for fitbit as they try to raise the money and take it to the next level. they're facing big threats. apple watch, jawbone coming at them with two lawsuits. it's a serious business. stuart: thank you, jo. cheryl, real fast? >> i disagree with you on one point you made earlier, the fact that you think only a small demographic is going to buy this. i think this ipo and wearable technology in yen is actually going to amass more interest from the american public this year. i'd rather-- if i'm monitoring my heart rate at least i have something to do. people like gadgets, that's my point. stuart: do you realize you made news, about ten minutes ago you said this is a tech bubble or a tech bubble. >> well i definitely feel that stocks like this trading at those valuations with their relative earnings measurements and revenue measured

measurements, it's overpriced. if you're a value investor we know that the market is a voting machine in the short-term, but a weighing machine over the long-term. i think that the fundamentals of the s&p 500 are okay stuart and even if the fed raises rates you'll see a plus 10% move in the stock market, but i'm really talking about the technology situation, the venture capital situation in the united states. we're getting to those peak levels we saw back in 1999 to 2000 and you have to worry about it as a capital allocator. why is-- >> there's this euphoria in the marketplace. you see the euphoria? jo was talking 500 million dollar for the ceo of fit bit. god bless the guy, i wanted him to make several billion dollars. >> but the market is scheduled-- a forecast just came out. wearables 173% growth for wearable technology. that's wearable technology that

includes the apple watch. but that's the forecast. >> i think they have to come out with new innovations to keep it relevant. i think it's going to end up in the sock drawer pretty quick. >> the consumer has to be sophisticated. it's a great demographic, i can build an indication why the business is going to be successful, but i'm talking about the valuation of the company, stuart not necessarily the success of the business. just talking about the metrics of the valuation have to be concerning to can be -- concerning to somebody doing this for some period of time. >> which you're great on by the way. who knew that you would be an iphone fan. stuart: i carry it everywhere and it measures every footstep that i take goes with me everywhere. isn't this what fitbit does? i've got it already on my apple phone. i don't know what else i could get out of this maybe my heart rate i don't know, but i've got it already. why would i go out and buy it.

>> this is my measuring my sleep it's measuring my calories, my steps. stuart: and what are you going to do with that information? other than gee-whiz? >> no i'm actually using it to-- monitoring my diet on the fitbit. stuart: you wore at fitbit while you were asleep and you woke up and told you you had not slept for the six hours you thought. and slept for four hours you did not expect four hours, not six hours. >> yeah which is bad-- >> how did that happen. >> i thought i'd slept longer than i had. it shows i woke up a lot more than i realized last night and able to chart it. stuart: you moved, what does that mean. ashley: does that mean you're going to buy a new mattress. >> i need medication to go to sleep at night. >> we should buy into-- >> i want to get back to the excitement on the floor of the new york stock exchange. fitbit, look what's this $30

a share. >> that demand keeps getting higher. $30 a share now on 6 1/2 million shares so this is a big sale for fitbit. we're getting closer. 9:55 a.m. we're expecting the first trade just after 10:00. $30 a share, getting close, 6 1/2 million shares going right now, stu? >> okay thanks very much. i'm checking up on all that's going on this morning. here is what's happening? we've got a vote on the house floor about fast track authority. president obama's trade bill. he wants it republicans want it, it may pass. this is the president's legacy on trade. and it's being voted on this morning in the house. trade may not seem terribly interesting to you and your wallet in the immediate future but politically this is a very big deal. this is the president's legacy. item number two. in a few moments we will be finding out probably at the top of the 10:00 hour which subjects the supreme court is

going to issue decisions on today. the one that we're waiting for in particular financial program? we're looking for the subsidies on obamacare, will we get the decision today? we'll find out very very quickly. third item a whopping stock rally dow industrials up 126 points. why? because interest rates are probably not going to go up until the end of this year or maybe into early next year. fitbit. i think i can say that's item number four if i'm not mistaken, 6 1/2 million shares $30 each. it's up the $20 a share. airbnb, part of the sharing economy now worth more than marriott. and isn't this news exciting. the money and you're making it. absolutely fantastic. a second hour exciting "varney

& company" is coming right up. stay there! 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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. stuart: well, good morning everyone, a lot of excitement in the market. first item fitbit. wearable computing power, it's about to be sold shares sold to the public. we're looking at a price around $30 a share. way above the $20 offering price. next item key rulings are coming from the supreme court this hour. could be obamacare subsidies and same-sex marriage. you're looking at the supreme court, as soon as we get the decisions, you will know. also on the floor of the house, we have the trade bill being debated. this is fast track for president obama to go ahead and negotiate with other countries, a trade deal. if it passes it will only pass

with a great deal of republican support. blake you've got this. you're coming from d.c. >> right now we're watching the parliamentary process at play here. right now, the house is on the floor. here is how this works out. in order for the house to debate t.p.a. this fast track authority coming up you first need a rule put in place. that's going on right now on the floor. they are talking about this rule. we'll get a vote on the rule in 30 to 45 minutes or so and then we're told at about 11:55 or so, let's call it noon that's when the vote on t.p.a. will take place, assuming this rule gets put into place which there's no reason to believe at this point that it would not happen. so, noon is really the time we are looking at though what we're now on the house floor. >> blake thank you very much indeed. next item the dow jones industrial average on a nice little rally today. 134 points higher. two items of news connected to

the market's performer. >> a reading from the philly fed let's not get technical, it showed a much stronger economy in the philadelphia area. much higher reading than was expected. that's not produced much of a pop in the market nor a decline either. it's interesting news about the economy. and also we have news on mortgages. this is the freddie mac average mortgage rate around america today and it's exactly 4%. that's actually down a fraction, but it is 4%. come in jason meister with me in new york. i say that a 4% mortgage rate it's down the trend is up and i expect a huge rush to re-fi. >> they're going to lock in the rates before they go up. and talking yesterday, september is probably the first rate rise and then maybe december, but i think they're going to lock in now. >> people can see rates going up in the future.

>> right, gradually. stuart: and see the mortgage rates going up ever so gradually right now, re-fi. >> sure. stuart: who is going to re-fi, people who re-fied two years ago. ashley: isn't everybody re-fied by now? >> i did, three or four years ago. >> at a very low rate. stuart: i did the adjustable so i'm looking toward an adjustment up in about two years, so i'm a prime candidate to lock in now to the 30 year fixed at 4%. how am i doing? >> very good. stuart: that's what everybody else is doing. >> how it impacts the housing market going forward, i don't see the jobs and wage growth here in america and i think that's what we should be focusing on. 5.5% unemployment they're talking about is nonsense. youths and it's still at 16. we need pro jobs and growth. stuart: the secret to the housing market or not, or goes down or not, the secret is the

overall economy, not just mortgage rates. >> that's right. stuart: you say there isn't the growth there. there isn't the income there for a sustained move up in housing prices. >> that's right. stuart: i'm going to take the other side of the fence and look at the very very high end real estate market. that i think is a bubble. >> stuart it's extremely frothy. in manhattan, land prices are going through the roof. land prices midtown manhattan, a thousand a foot. it's getting incredibly frothy. i think we're due for a bit of a reset. stuart: if i call it a bubble it doesn't have a bit of a reset? >> walk that line over there, stuart. stuart: i don't want to put you in a corner here, but is the public about to burst? >> i think we have some time in the short-term, but long-term i'm definitely worried about that. stuart: you've got to look at the kind of people buying the $30 million condo in new york

city. >> there's a lot of overseas capital. stuart: and it's hot money, isn't it? >> hot money. stuart: are you involved in this? i knew it i knew it. but for the rest of us get out there and re-fi. >> lock in now. stuart: lock in now, i'm going to do it. stay there. let's go to the floor of the new york stock exchange. had the latest on fitbit from jo. >> 30 and 1/4-- >> jo you're on. >> that's right. we're in the thing of things the fitbit ipo. the latest range, 30.25 and up on 6 million shares right now. we are getting ready to interview the ceo himself who is going to make more than half a billion dollars off of this today alone. stuart, it's a lot of money and we're going to find out, what do you plan to do with the company? he's facing serious competition with apple. even though test he's raising this money. will he be able to outinnovate

them? the demand is high and keeps creeping up. stuart: jo thank you. elizabeth mcdonald joins us. i don't know what your viewpoint is on fitbit? >> once it goes public and fed moves on rates you'll have freight formation and people say, oh this was a tiny bubble type of a stock. it's valued now at valuation three times than what j.c. penney is valued at. stuart: let me repeat that that's fitbit a wearable computing power around your first three times the value of yankee penny. >> thereabouts. it's zooming up to that level. we were telling the viewers that abnb is at 24 billion which is where the marriott-- uber is valued at more than fedex. what is going on with these

stocks, is this where the market public could burst? >> and in public tradely technology stocks, i think in privately traded technology stocks, the likes of you and i can't buy into those companies. they're privately held. that's a public-- >> you beer's -- uber's value is going up more than facebook when those stocks went public. stuart: you want to double in bulbars -- bubbles got to get to the real estate sites. you don't use it. stuart: my children do. >> got to get the app. stuart: who uses uber? >> i don't. stuart: you're the only one on the set use uber. >> now we're up 153 points and

rising. let me repeat the philly. ashley: upped the economic data and a dovish fed from yesterday. that's driving this market. stuart: thank you, ashley give us some perspective. very good. leading indicators a blast from the past, used to dwell on that for hours and now it's a snooze. it's up and that's apparently good news for the market. put it back again, now we're up 161 points ladies and gentlemen. ashley: keep talking, stu, it's working. stuart: you should thank me. oh, my goodness. ashley: look at that. stuart: and now we're getting close to a first trade on fitbit because the price is narrowing right down. last i heard it was what 30.30. it just opened. it's just opened. it's open. there you have to. all right. look at that up 54% from the offering price of $20 per

share. up a the 30.89. we're going to keep this on the screen for a while, this is the excitement of the day. you know most of the time the new york stock exchange is deserted and computer stuff these days. ashley: yeah. stuart: suddenly you get fitbit going public and you've got a crowd around that trading post and visible excitement 31.30. up 11 from the offering price. the ceo, i've forgotten his name, he's now made a half billion dollars and more i think he's closing in on 600 million and he'll be on the show in 20 or 30 minutes or less than that. see if you can grab him. ashley: it's on the house. stuart: i'm staying with fitbit because of the excitement. 3 31.34. there's the excitement. they're clapping and cheering making money, why not? this is a rare occurrence you know, it's not very often that a brand new type of companies

sells shares to the public for a first time ever. you're watching and it's happening now. we're talking fitbit. the major competitor i think is the apple watch. do you have a fitbit? too old for-- >> i workout too much. stuart: that's it. but the whole point is that you've got a wearable computing power on -- tradeable for the first time ever. i don't think there's any other pure play in wearable computing power. 31.28. where are we going now? this is exciting. okay. we've got liz and ashley. >> that is exciting liz: i think it's for the self-obsessed and i i think it's a fad. like candy crush king digital

and that posted the same growths and king digital started posting a lot of stock losses. >> and i think there's a lot of euphoria. stuart: i can't hear somebody's talking. now we're at 31.86, still going up, not a lot, but still going up 31.88. okay. now i have with us today-- not in the studio i think he's in another studio jason rockman there you are. >> correct. stuart: now, you're looking good right now because i was told before the show started, before fitbit was trading, that you are a futbit bull. you kind of pre ducted this did you? >> i did, thank you so much. i'm extremely bullish for a plethora of reasons. it's showing 130-some odd

million in profits and that's up from a loss of the year before. it made 5 million in revenue in 2010. 735 million of revenue last year. so, as far as this being a fad and type of passing thing absolutely not. there's unbare -- unparalleled ahead. that's a fraction of the population of the u.s. and fitbit is still making a billion dollars in sales? anything know the low 30's may be aggressive. i think anything under $25 is a screaming buy for the long-term. stuart: they've got 9 1/2 billion people bought it and use it. and how do they make the money once they made money selling it to you? is there a download income from

wearing and using a fit bit? >> not yet. people say after six months people lose it in their drawer and forget about it, but that's the opportunity for fitbit not to go the way of blackberry to try to find a way. they have hundreds of patents, even the intellectual pat termperatures. >> you're the bull on fitbit certainly on day one. come on in adam a what do you say above the $20 offer price? >> it's foreign foe investors to know they have to pay the price today. even though it's 10 11 20%, from an investor's standpoint i understand where you bought it today. the second point, there's

nothing proprietary. apple facebook on and on and on. i feel like it's smart selling out at the high. the company started six everyone years ago. but apple's watch does the same thing not to matter, but is it sustainable dz. >> you won't buy it at 30 wouldn't buy it at the offering price of 20. is that right? >> i would be very careful jumping on board a stock that has a lot of momentum built into it. i would want to wait and let the market digest the ipo, let a few days and weeks pass. see how the market is. >> i'm going to show this at you. i think this is the first pure play in wearables. i don't think there's another pure play hike fitbit industry.

isn't it nice to get the first' first'. >> i don't understand that points, but i would like to buy apple buy facebook. to buy the wearable it has to be multi-faceted. fit bit tells you your heart rate, do you sleep at night, you could come in with $100 and have a whole lot more powerful wearable devices. maria: thanks for coming in and answer some of the points that we heard from adam. >> done say no more. basically add dal telling that fit bit would be extraordinary if it were two. they had 177 patents and some

waiting for patents. the apple watch, i'm not a funny. number one, three times the enter level price of the fit bit. it's pricing people out on day one. number two the animal watch is like all trades and a master of none. stuart: liz:. >> i don't know how pro pryty their patterns are when they sent them. you can get your apple phone. stuart: and i want you, erik to look at fitbit. would you buy it or not? >> thank you, stuart. i wouldn't. i rather these arguments about pat interprets and frankly, you can have a hundred patterns.

the fitbit, as your guest said who is pro, once they buy it there are no additional revenue seems, everybody is talking about what they might do. what they go do? there's no sustainable-- >> and it's a wearable probably a huge industry. you don't like it for a pure play. >> i agree with the fact that the industry is going to use stuart, no question about that. the fact is they don't have anything sustainbly could e-competitive themselves. there are people who can do it less expensive. there will be an industry 30 million 40 million users, but the reality they'll likely go to apple, to korea, to china and other android providers

that can do it a lot less expensively. i think that fitbit i know they measure sleep quality. i think the executives are going to have a hard problem with the sleep quality in the future. >> know the when you're making $750 in he revenue. stuart: i have to suspend the debate. it was at 31 now at 30. 51% from the offing price. ral mallory goeky is hold on dock mar began. let's see what's your opinion on that? >> they've got the surge,smart

watch style thing, but it doesn't do a lot of things that others can do. stuart: that's the one, the surge is that the super one. >> it's a smart watch, gives you text message, and it's more high-tech than the others. stuart: do you like it? >> style-wise no. i'm not talking about style, but function. do you want text messages beep, beep beep. >> usually they're good. the smart watches are better for that, notifications. fitbit is tracking what you're doing and-- >> how much does that one cost? that's the bells and whistles. >> this is the most expensive. i believe it's around 180. one of more expense i have ones. stuart: pretty good in comparison to an apple watch. >> it looks like a lo-jack on

your wrist. >> that's the thing. it doesn't have the same functionality of an apple watch. >> you've got that big thing around your wrist and-- >> look at that. it looks like a handcuff. look at this. this is my little iphone 5 s. it does a whole lot. it counts my footsteps, whether i'm runningor jogging and counts the step, it knows. >> the other fitness trackers don't provide anything else. unless you're a fitness junky, it's not going to work out for you. stuart: hold on a second and we'll get the camera on the doctor. i mean fitbit it's supposed to do what it says it's fit, fit, medical stuff. >> i want to know why you're not updating yourself to an iphone 6? i wants a point about that.

apple watch is loaded with bells and whistles people are using using-- >> and cheryl casone she tried it out for me. i was dubious before and now i like it. the americans are up gold. as long as you do 30 to 45 minutes of exercise a day, get your heart rate up and do cardiovascular exercises. this thing is a gimmick, a long-term gimmick. what americans want they want to know steps, they want to know what their heart rate is. i like it doesn't have the wells and whistles of an apple watch. we don't need everything in one device. stuart:. ashley: say you have to go running for 30 minutes, you don't need the fitbit.

how many times stuart gets up to go to the bathroom it will tell us that. stuart: okay hold on a second doctor, does the surge you're wearing the $180 model. does it tell your heartbeat. that's one good thing about a heart rate monitor. stuart: to the ordinary consumer, you're with digital trends and it's your job to check out this kind of stuff. if it weren't for digital trends would you do it? >> not on this one. i know people who would benefit from fitness trackers, but i don't know anybody who would have benefitted from $180 that you can order on-line and have it fit to you. stuart: did you use it as a fitness tracker or for text messages? >> i used it for both.

i'm a person who would prefer a smart watch model. rather than a fit inest estest estinest-- fitness. >> you want a good looking one do you want one that tells if you're snoring. >> well it does tell you your sleep quality and let you know if you're having a light sleep. >> not snoring doesn't tell you about snoring. >> listen, that's a hard issue-- if you're not-- >> and it has to be as accurate enough when you're really snoring. that it's not sleep apnea. stuart: can i round this up for one second the dow jones industrial average is up 154 points, that's a very nice rally and we're vhe very happy to see it the dow is positive for the year, but you're watching history being made. a crowd down there on the floor

of the new york stock exchange is watching fitbit go public. this is not just any old stock. this is the start of wearable computing power you can invest in directly. it's a huge deal. got to go back to our bull and our bear on fitbit. first of all to the bull jason 20 seconds, go. >> i like what the doctor has to say so we're in the bull camp over year. first of all what nobody mentioned from a bull's standpoint is fitbit has a huge opportunity in alying in insurance,corporations and want to see people healthy. it's a global trend people wanting to be more powered and fit bit, anything under is a screaming guy. stuart: you took 30 seconds. go, adam. >> be careful to chase a stock especially a hyped up stock

like this. we've seen that with twitter and yelp. first it fell 60% and then rallied. so the timing of the stocks is important. when you have hyped up ipo's. i huge urge not to chase them especially on day one. stuart: and doctor the benefits of the medical computer power. >> i want to know heart rate sleep quality. get the scaled down model. it's not going to have to compete with the apple jash. >> it's interesting, having my temperature and-- >> blood pressure would help me enormously and i think that's the next one. stuart: next up if you weren't a reporter looking at technology, you're just a regular season. would you buy it?

>> i think a lot of regular people will buy it, but i don't know that they necessarily should unless fitbit starts advancing. they need to take the technology to the next level to remain competitive with all the other wearable fitness trackers on the market. stuart: let me wrap everything up if i may, it's an exciting day. 160 odd points up for the dow jones industrial average. we've got airbnb that's where you rent a room basically on an overnight basis, it's worth more than marriott at $24 billion. fit fitbit making history, it's above the offering price. what have i missed? anything else? oh oh we just heard, now, this is important, there will be no obamacare ruling from the supreme court. >> that's a big deal. stuart: you know what i miss? the u.s. open it starts today and using new technology.

i wrapped that up very very nicely. the ceo fitbit on this program next because he's an instant half billionaire. back in a moment. 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.

tree into a great deal of news breaking today. i will start with this. the supreme court will not issue its ruling on obamacare or on same-sex marriage today. overrated decisions coming down from the supreme court, but those two were there's a great deal of interest those decisions will not be coming out today. the other big news today is the stock market a very nice rally there. up 161 points as we speak for the dow jones industrial

average. the dallas positive this year. the stock market as of right now. julian kent has been covering this story in the floor of the new york stock exchange. fit bit go in public and the selling shares to uni for the first time. 30 dollars and 40 cents per share come away by the $20 offering price. come on in. have you got the ceo james park with you? reporter: hi, good to see you. we have james park of fit bit at best. congratulations on the ipo. you are $700 million richer. how does that feel? >> i haven't really thought about it. overall a pretty exciting experience. i have a lot of gratitude for everyone with us on this journey and our employees, investors and customers. reporter: you guys have grown significantly over the past few years.

there's an elephant in the room. we are talking about the apple watch. some allege more than what those fit bit can do. how will you compete and make sure you don't become the blackberry equivalent. reporter: this is a huge market. over $200 billion in consumer spending. there can be multiple significant categories. we have a wide range of products. different sizes, price point, feature set battery life. we feel good about our competitive position but overall self-aware about our strengths and weaknesses and always paranoid about staying ahead. reporter: as you think about staying ahead have you thought about selling the company or would you entertain those options? some companies out there are very interested. >> staying focused. reporter: we are going to go to stewart ernie in a moment. how do you make sure data privacy for people going for a

run worried about their heart rate is protect it? >> we have a clear privacy policy. we will never sell your data to third parties that never share your data without consent. stuart: with mr. park comment on the large number of people who buy fit bit and is up for a couple months and forget about it. what will you do about that? millions and millions of people. reporter: what we should do at the people who love you think that dead for a few minutes and get in their routine and forget about it. >> we are investing a lot of r&d. that is what drives the company. reporter: what if you like to have the president of the united states and so many people using the fit bit but also contemplating using your competitors devices.

>> you've got to be super paranoid to stay ahead. that is what keeps me up at night. if it's on for a year and will continue to do it. stuart: can i say one quick thing. i don't believe for one moment that mr. park doesn't know and doesn't care about the $700 million he just made. go ahead. tell him. reporter: our anchor once to tell you he's pretty sure that you definitely care about the $700 million you just made. what do you think? you told me off camera you are not a guy as many possessions. want to leverage the money insider personally? >> at the end of the day most of it will be given away. i try not to think about it. reporter: thank you gary very much. congratulations on the ipo. stuart: not even thinking about

$700 million. thank you. we appreciate it. ms. coming thick and fast from all the angles. a charleston shooting. the fbi identified the feature. 21-year-old dylan roof. nine people dead including a state senator. the man right there 21 years old. the suspect still at large. check the big word. we are up 150 points. 18,086. an even better have my no-space. the nasdaq above the wishes. you are looking at a 15 year high. 62.5116. that goes all the way back to the days all of us remember. and this. on trade again today. the first of two votes coming

in. the president is the republicans to go for the trade bill to cement his legacy on trade. this is a situation where the president could not get the backing. i do have republicans for trade legacy. >> democrats don't like the deal because with the trade deal in place they will stop losing jobs overseas. they have been allowed to set up operations overseas. >> democrats bolted because they were going to pay for with medicare cuts. how would they go back when it will cost jobs and medicare cuts to pay for it. stuart: i am the free-trade guy. what put me off this item is the president will have the authority for all kinds of things have been trade. immigration and climate change. >> paul ryan is going to put a

stop to that. by the way, this is a bill you can only find out about on wikileaks. that was an issue too. from a lack of transparency about the bill. stuart: we should say i don't know whether it will pass today. this will be a close run. cheryl, i know you are there. what are you watching today? rickey miss. fiber 957 calories today thanks to my sick bed. i am looking at the competitor. talking about apple earlier. what does this mean if the apple watch takes off. the stock is actually up 88 cents, almost 80% there appeared bergman is the other name and the stock is up almost 2%. you've got to watch the competitors. back to me and my calorie counting. back to you.

stuart: we will take a break pay some bills. "varney & company comes back after this.

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. >> i am nicole petallides with their fox business brief. the dow 154 points. the s&p 500 up 15 and nasdaq

also a winner of 53. taking a look at fit bit. the big ipo. an exciting morning on wall street. thirty dollars to change the price to $20. this is the day after the fed pushed off interest rate hikes. oracle pushing back over 80% as sales decline. they are trying to push the cloud. they are doing well in a small area for the company. macy's is on the move here. take a look right now. i'm all-time high looking at real estate.

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stuart: i will did the dreadful cerda broke overnight at the charleston shooting. the fbi identified the shooter. 21-year-old dylann roof. remember nine people are dead in the shooting including a state senator. dylann roof was still at large believed to be driving a 2000 hyundai a launcher of gis. he is armed and dangerous at that. you are looking at a picture of the suspect. check the big word. another big story up 160 points.

18100 almost as big as the nasdaq at a 15 year high. you've got to go while the way back to the.com bubble before you find the nasdaq and 5100. fit bit did open for trading. the first rich pure play investment in wearable computing power. the offering price is $20 per share. now at 3005. big news on uber. this is a big deal. california labor commission ruled that buber drivers employees are not independent contractors. that changes the whole nature of their employment. come back in. a technology investor vanessa to earth a -- thing or two about uber. if we now have to consider uber drivers as employees not independent contractors it is a

whole new ballgame for the sharing economy employee. >> it is a kiss of death. it crashes uber. it crushes these other companies built on this technology platform model when they are a software service, meaning they provide services. uber's model has been built on beating the tax system in essen and really when you talk to drivers, they control almost everything. does anyone really believe uber would allow drivers to control everything. when you look at what the rules are especially in california on an independent contractor versus employee and i can see why the cases in the most recent case are going in the direction of the employees. this is not the first time it's happened. stuart: a push against this new

sharing economy which is disrupting things. a few apps and other glossy have been brought against other sharing economy companies. try caviar delivers caviar. there is a lawsuit saying the delivery people are employees. poster mates, which delivers lunch is another company being sued on the grounds of the delivery people. they are employees, not contractors. home joy that is home cleaning being sued. same lawyer has sued the uber. my point is this. this is a ruling by the board. it is not a court ruling. we'll have to go to court at some point. uber has a lot of money. they could beat this thing back. >> it will likely go to court. they have an enormous amount of money and they are tough competitors. at the same time california

courts are typically pro-employee. it will likely get litigated at the highest court the california supreme court. it would not surprise me to see a ruling against uber. it will be interesting to see whether legislation changes recognize platforms otherwise the companies you mentioned like caviar and the others got hit really hard. uber is working to get driverless cars because they recognize they are exposed on these issues. stuart: eric say they are. i've got to break in for something happening right now. the house is voting now on the role for fast-track trade. come on independent update me on this one. this is a must win for the president. >> it is indeed. you've mentioned his legacy is on the line here. here is what is going on. the house is taking up a vote on

tpa, the fast-track authority. the vote is expected to have been in an hour hour and a half from now sometime around noon. before the vote can even happen, they need to put the rule in place. right now they are voting on the rule. this is not expected to be a problem and once the role and the getting past as many believe it will be, the debate. start and develop we expect soon. stuart: at the bottom line is they are voting now on whether they can vote. >> congress yes indeed. stuart: we will be back very shortly. now we are always inclined to follow stories which we think have an immediate impact on our viewers wallet. this is a situation which i don't think has an immediate impact it has enormous amount of power within our economy going

forward. >> it's a big deal. richard trumka and the like have been fighting against the fast-track trade authority for two years. job losses for the services industry, for example. the public sector unions out because they found out detroit, cities like baltimore are crumbling because of the loss of jobs and that means hits to the fireman's wallet as well. >> the point you made earlier the president now has free reign to make all of these deals that no one can do anything about it. congress cannot amend deals that they can't accept or reject them. stuart: the dow industrial average up 170 180 points. maybe the extra leg up using in the last few minutes has got something to do with a vote that is now in the house. i suspect the market wants a trade deal if they vote for a

trade deal in the house ,-com,-com ma that is the that is an extra plus for the stock market as we speak. i will go back to eric schiffer joining us from los angeles. we were talking about uber drivers being employees not contractors. i'm interested in the future valuation of uber. we are told they are going to do an ipo. if this is a case of bad i don't think a $50 billion valuation will stand. do you? >> i don't. it comes down to 10 in the fast enough on driverless cars and what the timing of all of this will be. it will affect the valuation especially if the ruling continues to move through the pores in favor of the employee. this will cause pause for investors to look as the courts rule and large law firms begin to take an and class-action suits. it'll be fascinating.

>> is a lot of opposition to it. look i get through through that before it becomes a reality. thank you very much for your expertise today. most valuable. to date more than 47 million turkeys and chickens have been the vic is the word flu. eight shortages spreading across america. we will head out to the farm even on a busy day. the mother of all freeloaders if you want to call it that made a lot of money and starting to sell everything and live with an office friends and family. here's the catch. they don't like him. but guess what, you'll be sitting next to me on the set in the next hour. let's see how long she lasts. -- she lasts

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insurance and you could save up to $423 dollars. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. stuart: two big stories we're following up washington and another vote on obama trade on a fast-track trade bill voting for right now. this is a procedural vote. another one in the next hour. the supreme court not coming today. decisions are still expected on obamacare and same-sex marriage. those can now come on monday instead. totally different subject now. eggs, bird flu sending prices soaring. jeff roth joins us in a farm outside chicago.

>> barrington natural farms, ashley. it is getting crazy with a prices. look at the numbers. i've got cliff mcconville of barrington nashville farms. this will be looking at here is a natural flock. these guys are not one of those big industrial producers. usda has now put out a report saying that maybe part of the problem. >> i think that is correct. we were worried about the bird flu when we first heard about it. we've had no problems this year. we have a lot of geese in this field in the spring side-by-side with our chickens. reporter: these free range chicken seemed to be immune to it. where are the eggs? lusciously do with the eggs. maybe tom will pull them over for us. it is getting crazy. restaurants are rationing egg

charging a surcharge for egg dishes. >> we have seen an uptick in demand this year. we have a different market than the conventional market because where pasture raised and organic. so we have been charging $7 a dozen. we have no problem selling everything we can produce. reporter: becoming gold. they are almost gold these days. ashley: if they are indeed. thank you so much. that was corny. "varney & company" coming up next. charge! so why would you invest without checking brokercheck? check your broker with brokercheck.

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stuart: has it been a busy morning on wall street in politics, too. i will start with fit bit.

they sold shares to public for the first time today. they make wearable fitness trackers get started trading last hour and $30.40 per share. right now 2968. this is either made the first pure play if you want to get into the wearable computer markets. big crowds on the floor of the new york stock exchange ahead of the ipo. fox business news contributor says that is not necessarily good thing. roll that tape. >> i think when you see that crowd in the dock exchange for this offering you have to worry about where we are in the market and the foam at the top of the technology bubble. when you are seeing the venture capital space exaggerated valuation. stuart: he said technology bubble. we are going to follow closely all morning. look who is here. clayton morris. we call him our tech guru.

he is coming up in a moment. restrain yourself. cheryl casone tried out the fit bit. to locate a reported half an hour. taking you to the floor of the house. big votes today on obama's fast-track trade. blake irving you've got to sort this out. are they voting so they can vote right now? >> they are indeed voting so they can vote. that is how far protrude legislators out there. this is the first act of take two. the house is voting to further take a trade promotion authority otherwise known as cpa. the president is aligned with republicans in a small percentage of perjury democrats. we expect a final vote an hour from now. debate to start shortly. you recall last week the trade agenda being revised today and the house uses a different tack

tick to give a vote on tpa as a stand-alone bill. it has been set with the worker a program otherwise known as taa. the bills were one super glued together. now they are basically velcro together. both chambers barely passed the tpa but that's when it was super good with the worker a program. now epa will be taken up by itself. if it is past it has to go again before the senate. stuart: i think i am there. i'm not exactly sure. look who is here to straighten out the principle involved here. dan honecker of "the wall street journal" here with us now. here is what i want to see and here is what i think my past. a clean-cut trade authority bill. fast-track clean cut. none of this climate change

stuff, none of this income redistribution. just give the president authority to negotiate a deal and let's do some trade. >> we know for sure you'll never be speaker of the house. and never get that clean in washington. they would not be holding this vote this afternoon if they do not believe given the president trade promotion authority were going to pass. it almost certainly will pass and then go over to the.net and they will work a deal out of trade assistance for workers who lose their jobs. stuart: too many people trade is boring because it has no direct impact. i think it is the pathway to more growth for our economy and that's one of the reason the dow industrial average is up 200 points. >> i completely agree with that. it may be boring but is one of the true economic levers we have up there for us.

the fed reserve policy has been doing nothing to help trade agreement with 10 specific nations definitely help growth in the united states. i think they are definitely pulling the president out of the fire way. >> you've got to have republican supporter. >> has got to have support in his ultimately going to get it. if you said you have the reverse effect. it would go down. japan has loaded up on this and other nations, vietnam committed to the agreement. if it doesn't have been coming vietnam will pick up the phone and call beijing immediately. the president's prestige is on the line. stuart: one thing i don't understand. in my mind president of bombings on the left him almost every single issue. since one has a leftist guide them in favor of free trade. that is what i don't get. why is he so much in favor?

>> despite the fact of pundit that come out against it right now. most economists understand you cannot walk away from the global trading regime and still sustain a strong economy. the president has come to understand that. we really didn't expect it was going to have this much trouble. the president hasn't been engaged until recently and now he's totally engaged in loaded up on getting the trade promotion authority through the congress. stuart: stay there. a lot more stuff. at any moment attorney general to read eventually make a statement on the shooting at the church in charleston, south carolina. cheryl, bring us up-to-date on what happened. reporter: within the last hour authorities didn't release the name of the photo. the fbi saying this man 21-year-old dylann roof of

lexington county south carolina is the man they want to question about the shocking attack. suspected of shooting and killing nine people. showing a man leaving the church in a black four-door sedan described as a young white male five-foot nine. considered very armed and very dangerous right now. this is called a hate crime. the white gunman opening fire. also a state senator in north carolina. jeb bush hillary clinton offering condolences. commenting on the florida senate calling this florida senate colin ascribed the ultimate act of cowardice and hatred. jeb bush scheduled to do a campaign event. >> you've canceled that. not to the stock market. another huge story. we are up 203 points in part because the trade bill is good to pass.

interest rate probably not going up until late this year. that is the class. a reporter from the philly fed cared much stronger economy in that area. that is good for the market. >> a little bit stronger than we thought. janet still won't raise rates. 203 points higher. the nasdaq composite index. technology companies. that is a 15 year high. i said it before, i will say it again. you have to go back to the.com bubble days before you sought a nasdaq -- who knows, history might not repeat itself. i want to get back to rand paul. he says we should have a 145% flat tax cut out of all kinds of deductions and that the economy war. i love this.

i worship at the altar of 14.5% tax. i think would be great for america. it's not going to happen. >> not that it's not necessarily going to happen. the real story is rand paul has successfully advocated tax reform. many other republican candidates have proposed in the late tax. marco rubio chris christie jeb bush talking about lowering tax rates as have others. it has become consensus that the tax code is an impediment to economic growth. by proposing something as radical as he has wind pol has guaranteed the subject to the top of the agenda. >> defers vote on the up on the trade bill has passed. i think we can say that. 243 is all we need. 218 to get to 43 it passes. a second vote is due within an

hour and that is the really big vote. that is the one on fast track. th thinks it's going tthe market thinks it's going to pass because of that 207 points now. we will bring you that as soon as it happens. all kinds of stories breaking today. fit bit is a big story. they opened for trading generated a lot of action on the floor and clayton is here to weigh in. first of all am i right in saying this is the first pure play in wearable computing technology? >> that's all this company does. i don't get the excitement. i've been excited for years. i lost 20 pounds thanks to fit bit. you yelled at me in the hallway stop losing weight. largely because i was tracking every step counting calories come using other apps on my phone to track all of this. when i look at this company and

think of ford or ge do i see the company 30 years from now making wearable -- fit bit trackers? i don't know. i've been using their latest gadget which is a clunky looking device in the interface is a little kludgy. but never mind me. do you remember those flip cams a few years ago? where are they now? in the age of smartphones iphone you can do it all here which is what you cannot do with yours are found. the phone you hold right there that counts calories, tracks every step you take using the accelerometer built right into the phone. >> this is monitoring my heart rate, which has been filling up varney on the air. their sensors attached to my skin. >> your apple watch can. their sensors built into the

back of the apple watch. it's a technology like fit bit going to be here in the next? >> there's another huge story which we have dealt very little in the past couple hours. 600 million samsung phone owners are vulnerable to a hacking attack. here's how it works. a flaw party, a third party puts the key party -- keyboard into the phone. that is available for hacking. i'd love to go more. we have to go down to the lake. what if you got on trade? reporter: i am sorry, but rather munch on a press conference. there's got to listen to this. >> -- and the u.s. attorney's office are working closely and we stand ready to offer every resource, every means in every tollway pizzazz to locate and apprehend the perpetrator of the

crime. this has no place in our country and no place in a civilized society. i want to be clear, the individual who committed these acts will be found and face justice. as they move forward my thoughts and prayers and those of the entire law enforcement community at the department of justice and around the country are with the same as the ones of the big dems and charles then. as we struggle to comprehend the heartbreaking event, i want everyone in charleston and everyone who's affected by the tragedy to know we will do everything in our power to help heal the community and make it whole again. i encourage the people of charleston south carolina and wider area to continue circulating photos and report any type no matter how small, no matter how minor to the tip line. it can be reached at 1800 --

1800 call fbi. and that's today's announcement. stuart: dallas attorney general but rather munch on the south carolina shooting. this will be solved as a hate crime. nine people shot to death in an historically black church illuminate charleston, south carolina. i will move to something completely different. i want to go back to the hack the possibility of hacking into 600 million different samsung phones. there is a fault in the software built into the phone is 600 million users are vulnerable. you either technology guru. >> when you download third-party applications you have vulnerabilities because google has prided out i'm been operided out i'm been opened. we've seen an increase in years google clamping down on some openness because they want to

take more control. when you've got the keyboard, saint-saens is already said they are announcing a patch for this. download a third-party keyboard which lets you use your finger really fast and led the round. it is not built a sand son. there is a potential for people to take control of your device by using a third-party keyboard. >> you can't fix it because you have to replace the keyboard. think of it as a not. anytime someone can get all the lines that are mobile phones. someone gets full control of your device that's a big problem. stuart: all kinds of things happening today. the trade deal and what is going on with covering it all. up to honor points for the dow jones industrial average. back in a moment.

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. if you're an adult with type 2 diabetes and your a1c is not at goal with certain diabetes pills or daily insulin your doctor may be talking about adding medication to help lower your a1c. ask your doctor if adding once-a-week tanzeum is right for you. once-a-week tanzeum is an injectable prescription medicine that may improve blood sugar in adults with type 2 diabetes along with diet and exercise. once-a-week tanzeum works by helping your body

release its own natural insulin when it's needed. tanzeum is not recommended as the first medicine to treat diabetes or in people with severe stomach or intestinal problems. tanzeum is not insulin. it is not used to treat type 1 diabetes or diabetic ketoacidosis and has not been studied with mealtime insulin. do not take tanzeum if you or your family have a history of medullary thyroid cancer or multiple endocrine neoplasia syndrome type 2, or if you're allergic to tanzeum or any of its ingredients. stop using tanzeum and call your doctor right away if you experience symptoms of a serious allergic reaction which may include itching, rash, or difficulty breathing; if you have signs of pancreatitis, such as severe stomach pain that will not go away and may move to your back, with or without vomiting; or if you have symptoms of thyroid cancer which include a lump or swelling in your neck hoarseness, trouble swallowing or shortness of breath. before using tanzeum talk to your doctor about your medical conditions, all medicines you're taking, if you're nursing, pregnant, or may become pregnant. and about low blood sugar and how to manage it.

taking tanzeum with a sulfonylurea or insulin increases your risk for low blood sugar. common side effects with tanzeum include diarrhea nausea, injection site reactions cough, back pain and cold or flu symptoms. some serious side effects can lead to dehydration which may cause kidney failure. ask your doctor if adding once-a-week tanzeum is right for you. go to tanzeum.com to learn if you may be eligible to receive tanzeum free for 12 months. make every week a tanzeum week. stuart: we keep saying it is a

big news today. the house moving forward with a big vote expected within the hour. charles and the south carolina, the shooter they're identified as 21-year-old dylann roof. still at large. we expect president obama to address this about 11:45 this morning. now i look at the big word. we are up about 200 points for the dow industrials did interest rates not going up until late this year or early next year. a nicer parts of philadelphia but the state of the economy. up goes the market. don't forget oracle. in a sharply higher market, oracle is down 8%. the prophet took a hit. down she goes. a big open for fit bit now $30.25 per share. that is up 51% day one of its trading. the u.s. delegation to the united nations general assembly will not be staying at the waldorf is dori at baseball.

why is that? probably because the chinese investment group bought the hotel last year. is that it? >> for decades the u.n. general assembly is the waldorf as their headquarters as they go for their general assembly. now they will go to another hotel. the hotel was bought by a chinese insurance company for close to $2 billion. under the deal, hilton will run the hotel for the next hundred years that it called for $100 million renovation. that ran caution bells because they were thinking about eavesdropping and chinese microphones and light fixtures and everything else. stuart: china has 18 million worth of records. >> i've talked to some sources have some sources than hilton and they say they are running this. they are not going to let the chinese -- stuart: hold on.

i've got an interesting guest. this guy made a great deal of money. then he sold all of his possessions and he lives off than with family and friends. get this. none of them want him. none of them like you. how long am i going to keep this guy on the set? he graciously decided to take space on my site this morning. how are you? >> very well. stuart: nobody likes you. >> that's not actually true. benjamin franklin once said houseguests are like fish and start smelling after three days. if you want to reconnect with your friend the better ways not to couch surf and stay with them but go on trips altogether. stuart: you actually had the spouses do your laundry. are you kidding me? >> the thing is i own only 50

items and so i need to do laundry over and over. stuart: don't you you understand when you're a guest in someone's house you don't make demands of what to watch on television, what to eat for dinner or who does the laundry. >> going to die. it was all about the new experiences, reconnect. because we are all so busy with our lives, friendships frayed. we assist each other all the time and talk about the meaning of life. now we see each other ever few weeks. so -- stuart: when either the people you start to hate them. >> now i live in b&bs around the world and in hotels instead of staying with friends and family i invite all of them two weeks a year twice a year to an exotic place where we all reconnect. and they do come. stuart: do you pay for them? >> i do.

stuart: how is it going? are you really be connecting nori putting people off still? >> it's actually rewarding. the problem is we are not investing enough in my fix. as in friendships and family because we are so busy. you need to pay the bills, you need to get the pool cleaned. all these things take time. that is not what life is about. life is about maximizing friendship. >> now you are saying they have to fix their pool. you are a good man. i think you're a good guy. it's very interesting what you're doing. i'm not so sure it is going to work out well. we wish you the best of luck. up next the irs cutting the budget. they cut the budget cut for them. we'll take your phone calls. they've got no problem collecting your money have

they?

stuart: breaking news. the suspect in the charleston shooting would be dylann roof has been caught, apprehended in north carolina. that is what we hear from various reports. we will be following this very

closely. remember, nine people shot to death in a church. they were at a prayer meeting. this is the suspect. he fled in a car. several reports say the suspect has been captured in north carolina. we will keep you in touch. the president will address the situation around 11:45 a.m. eastern time. 18 minutes from now. we'll see about that one. i want to talk to gut the irs. actually i do want to talk to you. as we all know the irs has budget cuts over the last -- the mac 1.2 billion. stuart: taken out of your budget. and yet they still manage to take a record amount of money. >> is worse than not. let me explain. all kinds of bad graphic shines in the last month you are more likely to have your identity

stolen and we are collecting less money. on march 3rd he told congress they were collecting 2 billion less. he said we estimate the agency will choose 1800 enforcement personnel in 2015 that we will replace. we anticipate the outcome will be fewer audit, fewer resources on collection. the government will lose at least 2 billion in revenue. and yet the treasury inspector general came up with the root port this week showing losses were 100 million in field offices and 100 million in automated coield offices and 100 million in automated collections. that is 200 million not 2 billion. get this. personnel in the divisions during the time went down 25% and 28% respectively. think about the revenue per officer revenue per collector doesn't seem too impressive.

stuart: he is kind of angling here. i don't want to characterize him negatively. he was a guy that says if you don't give me more money you will lose a great deal more money. but that is not accurate. >> he is angling. if you look at the month they were toys, the federal government is on track to collect more money than ever. ever record $2.1 trillion. you know why we aren't losing money here? the reality is 98% of americans those are the official estimates, americans pay their taxes. americans pay their taxes because they want to, because they are willing to cooperate. the more the irs loses our money the more they get rid of our identity, the less likely we are to pay. stuart: i am here to tell you that american compliance with tax laws is that a high. americans don't cheat on their taxes. not like a lot of other people

do. >> that's like us to linger when they misuse our funding. stuart: you are terrible. i like it. hope frances relief in the cyclical on climate change. global warming is real and humans are causing it. he wants to fix a perverse economic system. in my opinion, but hope is getting into politics. more in a moment. so you're a small business expert from at&t? yeah, give me a problem and i've got the solution. well, we have 30 years of customer records. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill out forms. tablets. keep them all digital. our deliveries. our fleet apps wilfindhe

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>> update this story for you suspected gunman dylan roof arrested in shelby, north carolina. backtrack a little, nine people killed overnight at a prayer meeting in charleston, south carolina. and nine dead including state senator. and it is being called a hate scrim. president obama will address the shooting within minutes. we will bring it to you as that address happens. check that big board going higher still. look at this please up 210 points now, 181. all 30 of the dow stocks in the green that means they're up. it may be even bigger news is this, that nasdaq has hit a day all time high. right now, actually that is -- last record of 5132 set on march 10th, 2000. >> wow. >> so we're talking 15 plus years. that was right before the break when the.com bubble smashes on

rocking and down it went. day record high. i never thought we would get back to that. by the way, earlier on this program, anthony hot shot investor and fox news guy he said there's a tech bubble that nasdaq is the technology indicator. he says it is a bubble. intraday all time high. a mooch said, paraphrases his name. he sayses it, a bubble windchill out everybody. fit bit based out of trading earlier today, it is a winner. offering price is $20 a share. it is now at $30.22. now, how good a tracker is fit bit? we set out to try it out. cheryl tries it out with a run in central park. look at this. ♪ ♪ reporter: it is fit bit ipo day. here's the question does it

really work? i have the brand new surge on my arm, i'm going to do running in central park, new york city but i brought in an expert to see if fitbit actually works. joining me now is what do we think of this so far? >> impressed with the technology here and measuring a lot of different things. why do you use it? >> i want to know my heart rate and how much i run today. my distance, and how many calories i burn most importantly. are you ready for this? okay. let's start running. ♪ ♪ >> how do you feel? >> good. >> heart rate? >> 158. >> see what i get. >> that is about 155, about the same. regular. >> how do you feel about it like what it told us today on my run? >> i like it because it measures a lot of things that we need to know about, does it motivate you. >> yeah, it kind of does that is why i like -- i actually own one.

>> deep breath. all right i'll sending you my bill a lot more for a house call. >> stuart varney is picking up the tack today. i'll send it to him. >> see is the gps tracker is accurate on the search. go. >> watch with us here right now in living color. did it track what it was supposed to track accurately? >> yes. the gps tracker was actually on money because i know that park really run because i run there a lot. also my heart in a few beats of what he measured after my run was over. yeah, it was pretty dead on. i was skeptical. >> tracked calories and my steps tracks my sleep. i'm following everything. had this on for two days thanks to your producers i've really enjoyed it. flghts case closed. if you want to put it in a sock drawer. >> return it to the company.

serious for a second. loretta lynch just confirmed that the suspect in the south carolina church shooting is in custody. there he is. that is dylan roof 21 years old. he was arrested in shelby, north carolina, and he's accused of killing nine fool. prayer meeting last night that included the death toll included a state senator and a leading pastor. it is being called a hate crime. moments ago loretta lynch confirmed that man is in dust dis. president obama is expected to address shooting within minutes. we'll take you there as soon as it happens. and then we have the u.s. open which is officially underway if you want to make the match more interesting you stay tuned please. we have a top bookie from vegas with odds on the open after this. two streetlights. the only difference: that little blue thingy. you see it? that's a sensor. using ge software, the light can

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>> i'm nicole petallides with your fox business brief. dow jones industrial average gaining 200 points we've seen gains across all sectors and nasdaq steals show today hits a lifetime record high, right now over 4% right now. we could see it higher by 1.3% at 51348 all too many record highs, names you know henry shine starbucks, also jill i had those are some of the best names on the nasdaq that brought us directv also lifetime highs. take a look also at fitbit

started out up 50% guess what it is not giving light. up 50%. with some downs nike and disney and taser that gets a pop. dallas police department ordered 1,000 body cameras to stock 2.7% up nearly 35% this year.

>> all right police in south carolina holding news conference. listen in please. >> from south carolina -- approximately 30 minutes ago, he was arrested in shelby, north carolina, during a traffic stop. at this time, we have not only fbi agent as there, but we also have sled and city of charleston detectives preparing to fly to shelby, north carolina, to ginl the interview process as well as the evidence recovery. this case could not been cleared as quickly as it had been for all of the cooperation of agencies that were involved in

this investigation. i cannot say -- how thankful i am and how appreciative i am of all of the people who came together during a very tragic situation, a horrific situation and one that has touched the heart and soul of every person who lifts in this community. and they have come together and some of them have worked tirelessly running down leads, some of them have been working with their agencies and various states. the cooperation that we've received from the federal government with all of the resources as well as the state government has been unparalleled and i just want to make sure that i publicly thank all of my colleagues for the resources they brought also the men and women of the charleston police department as well as the charleston county sheriff's department who played vital roles in this particular investigation. there's a lot to do in this case. we've got a lot more investigation to do to find out

why this happened. we've got a lot to do in terms of preparing this case for prosecution. butten ya tell you that the office as well as the united states attorney's office has been in con stant contact throughout the day and night and they're prepared now to partner with us move forward in the prosecution stage. again i want to thank you for your vigilance being here, and i know we've had you here several times and you he us get information out, and again as a partnership and working with you, working with law enforcement. working with the community, about and i want to thank these gentleman on my right for their cooperation and their assistance during this investigation. right from the very beginning, i know that the elder came out and said that we'ring together and together this is what it has been throughout the night so

pleased that we were able to resolve this case quickly for the family for our community, for our state so that nobody else is harmed by this individual who obviously, committed a tragic -- heinous crime last night in the city of charleston. mayor. >> first of all, i want to publicly commend -- >> mayor is speaking now. you previously heard the police chief, police chief made the comment that this incident touched the heart and soul it have that community. i would suggest that that incident dreadful incident has touched heart and of the soul whole country in a few minutes from now, about five minutes, president obama will address this horrific shooting in charleston, south carolina that occurred last night with nine dead and prayer meeting in a church. let's listen in a little bit more to the mayor. >> as chief said, we have extraordinary cooperation from

law enforcement professionals. and when you have a chance to work on a difficult matter and see the skills and the commitment of people who has dedicated their lives to law enforcement, it is so inspirational. and because of all of that work, this very important news today is announced that that awful person, that terrible human being would go into a place of worship and people were praying and kill them is now in custody. where he will always remain. but reported for everyone by this act, family members

community members and for people of america for in this grat -- great country we hold sacred the places where people come -- [inaudible] and safety and in peace. so the arrest of this awful man is important for all of us in this community and in our country. to begin the necessary process of our healing together. governor haley is here and she's spag in a minute and i want to thank the govan governor for coming down from charleston and what we have had from as a i mentioned other law enforcement

agencies and has been extraordinary. thank you governor haley for your presence, and interest and support. also i want to announce that i received a personal call from vice president biden he knew pickly and ann morris brand will be in a few minutes and he himself and we all know has had a -- tragically sad time and grief in support. then i received a call from president obama personally that conveyed sympathy and part of the citizens of america to let us know that they're with us in this offer to make any federal resources available. i told the president that the fbi atf and federal resources

and justice department that they are extraordinary. a part of this hearing process, we all need to help. so we have created the emanuel pope fund. started with a $5,000 contribution from the city of charleston, and emanuel -- robert emanuel fund will be a vehicle for citizens in our community and around the country that want to do something to help to contribute to that fund. obviously wheels of the church all of those who were killed and a expenses all of the loss families and so much more. what we had this opportunity to help them, and when we help them, we also have to -- all agree that is a very

important part of our souls. people can drop checks off at wells fargo. also we can mail checks to box 304 charleston, 29402 get this, an so we have a way that we all can help. right away, right so that is 24 hours even afterwards. that the citizens in the community and our country can help positively. and then tomorrow evening we will announce the time, there will be a community prayer vigil at the college of charleston arena which is not but a block and a half from mother emanuel, so we'll have a chance to come together, in prayer and to mourn the losses and to come together as a community at a time at that event tomorrow evening will be announced soon.

and will be getting that out into the media. and i thank everyone who is here. and chief said the media -- [inaudible] arrest this awful person in north carolina because we got -- [inaudible] wonderful signs that in america we don't let bad people look this get away with these. thank you. governor. >> thank you mr. mayor. i want to assert my thanks to mayor for his -- he's always had great leadership. but during times of struggle he steppings up even more. continues to make charleston proud, and i continue to appreciate your friendship and your partnership. i want to personally thank bishop north with the ame church family. i spoke with him this morning, even though he's in recovery he's very much in prayer, and in leadership and the fact that he is asked that we all come

together for prayer vj l at noon and see all of us go to do that. but you know, we woke up today today -- ing a -- and the heart and soul of south carolina was broken. so we have some grieving to do. and we've got some pain we have to go through. parents have to explain to their kids how they can go to church and be safe and that is something that we never thought we would have to deal with. having said that, we are a strong and state and most importantly we love each other. i will tell you there's a lot of prayer in this state. so you're going to see all of us trying to lift these nine families up in prayer because they need us. nine families need us, the emanuel ame church needs us.

ame church family needs us. and the people of south carolina need us to come together and be strong for what is happened. i want you to know the outpouring of emotion from across this country has been overwhelming. from presidential candidates to citizens who travel through the state, to any person in any walk of life. every single person that has had to put their feet in shoes of up one of the families today and they know all what that felt like. with that where do we go from here? we allow ourselves to grieve. we allow ourselves to pray. we allow ourselves to question why this happened. and then we allow ourselves to heal. healing process will start. we're so thankful to chief mullen and his team and law enforcement with fled, with fbi, with everybody that came together.

that refused to allow this to happen. i never seen when we were going to the command center such passion and personal willingness to want to make sure they brought this person home. and so i want to personally thank the law enforcement community because you have now allowed us to start. and we can now tell our children that that person is in custody. and we can now not only lift up our law enforcement communities since this happened but thank them to give them credit they deserve and courage that they deserve but i want to remind everybody, south carolina has stepped up today in a way that continues to mac me proud. we're seeing love we're seeing prayers we're seeing support. we're seeing humility for that i want to tell you that i'm thankful and continue to be on stand by for all of the people leaders that you see behind us willing to do everything for the family and church in need. for that i will tell you it is a

very, very sad day ?k. but it is a day that we will get through. a day that we will remember, and it is a day that will allow us to get stronger. thank you. >> take a few questions starting from the right -- [inaudible] >> he was stopped because a citizen alerted law enforcement to a suspicious activity and law enforcement went out and they knew that once they arrived there, that it was the individual that we were looking for. >> north carolina highway -- >> yeah. [inaudible] >> he was cooperative. >> excuse me? >> we're not going to talk about that right now. thank you. [inaudible] not going to talk about that right now either. no ma'am no aspect of the investigation that is still

ongoing, still a lot of things happening and we have to make sure that we follow all of those processes so we just can't talk about those details right now. [inaudible] >> cooperative with the officer who stopped him. >> do you believe he acted alone? >> i do, yes. >> knock else involved. >> citizen just saw a vehicle that they felt like was us peshes and did exactly what we asked them to do. we called police and we checked it out. as a result of that, we were able to make this apprehension. [inaudible] right. well that will be part of what we do when investigators begin their interview with him. right now we don't have answers to that. yes, sir. right now he's in shelby, north

carolina. there will be a process that we have to go through to get him become here. so we'll be working that very diligently with not only sled but the fbi along with our detectives. [inaudible] >> he was in the vehicle when he was approached by law enforcement. paul. [inaudible] shelby, north carolina plpgd. police department. [inaudible] not that i'm aware of at this point. [inaudible] well he drove. i mean, it is not that far. we could drive there a number of hours in between what happens here -- [inaudible] >> i don't know the answer to that question. >> interstate highway, you know going up -- [inaudible]

>> sure, i'll give you a brief overview of that because that was a lot of moving parts. basically the initial response was tremendous from all of our partners. we had people from various agencies that were here immediately. as i was driving to the scene from my home, i was talking to chief appeal and the fbi in materials of their willingness to get involved. so by the time we all converged on scene we immediately started to partner and resources that were brought there. we were able to get up 1-800-number very quickly. once we got the surveillance photos out and then we got the 1-800-number up we started to receive tips and that was what lead us to the ability to identify the individual and make this arrest. yes sir. [inaudible] >> i don't know the exact too many, it was probably about 35 -- minutes ago. i'm not sure exactly what time it was. but i can get you that information.

>> not going to talk about that today. one more. [inaudible] >> we had a number of tips that were coming in and following those tips, every lead that came in and i mean, it was amazing the fact that we had teams that were standing by. they were almost, you know wired to go. wherever we got a lead we got sled agents, fbi agents to run those down, we had agents and other parts of the -- country we have agents on their way here from other parts of the country to aid us. so it was a tremendous effort and really with the team that we had working with us, and the team that we had in the community, it was a -- television -- a tremendous push to make this a successful -- >> on the bottom right of your screen you've been seeing a dark car parked under some trees that we believe was the getaway, that was the get washington car for

dylan roof. he has been captured. he was cooperative upon his capture, and apparently according to police chief he acted alone. the president will address this issue moments from now. neil cavuto please take it away. >> thiewng stuart thank you very much. waiting to hear from the president separately keeping an eye on capitol hill and trying again on this trade measure. now they just agreed to the -- the provision on how they're going to go through this. in other words approving a procedure vote allow a vote on a trade authority bill that would you know the drill by now. probably have memorize it had right now grant the president to go ahead and get trade deals through up or down votes in the house and senate. chad on the latest on that. chad what can you tell us? where does that stand? >> looking right now as you were reading intro there neil they've started road call vote on prevention authority frame qork that passed h