>> and dagen mcdowell, kevin kelly and john spallanzani. thank you for joining us. the man who inspired the movie, jerry mcguire. sports agent will be with us, and def records ceo, suge knight, over to you stu. stuart: thank you. take a deep breath. it's nail-biting time. we'll tell you what's going to happen to your money 30 minutes from now. stocks will be down and the names that took such a big hit yesterday will be down some more. the problem, we have no plan if our economy slides, and china's economy is sliding some more. politics, suddenly entertaining. wait until you hear what trump has to say about the pope and bowe bergdahl, he will draw 30,000 people or more to the

field tonight. a treasure trove for lawyers: and hint, he's mad as hell and he's not going to take it anymore. "varney & company" is about to begin. ♪ >> let's get to it. the markets, that is. we're going to be down at the opening bell, 70 or 80 points, we're all over the selloff, how bad is it going to be and we will be asking that question for three hours. the price of oil bouncing-- no, not bouncing down, back at 40.87 per barrel, again, we're looking to see if it drops below 40. we're showing 39 on the screen at some point today. we'll see. gas, good news, the pace of the decline in prices is picking up

steam, down about two cents overnight. and big names, we talk about it every day and boy did they get beaten up yesterday. do you buy now? here is the closing prices from yesterday. netflix, 112. apple, 112. facebook 90, amazon down to 515. jo john, taking a vacation from his mansion in bermuda. are you going to reassure our viewers that maybe this is the time to buy a few bargains? not necessarily those stocks, but buy a few bargains, hold some hands and reassure people today, are you going to do that? >> no doubt about it. i am, almost 50% cash and i was thinking there might be a pullback, i was wrong, you were right about microsoft, congratulations. i'll probably start doing that starting around labor day. stuart: oh, labor day. so we may have a nasty bumpy ride? >> nobody's working on wall street right now. you're seeing lower volume and you're seeing people taking

time off. labor day is when the real market to me really starts and i think somewhere around there where i'll start-- >> and they're waiting, waiting because they want to see if we fall further. that's where your opportunity is, but it's not today, not going to be next week. stuart: we've opened up the show with a couple of big smiles. >> it's friday no matter what. stuart: but the dow is going to open now, 80 or 90 points lower and you're here to reassure us and we're happy about that. thank you, john, more on you later. i want to get to donald trump who doesn't resist,'s outspoke been the pope and tell him to stop worrying about capitalism and worry about isis. >> i'd say isis wants to get you. do you know isis wants to go in and take over the vatican. that's a dream of theirs to go into italy. if you look at what's going on, they better hope that ka

capitalism works, it's the only thing that we have. stuart: and trump tonight is in alabama reportedly moved again to a bigger venue. the lad peebles stadium home of university of south alabama football team have a capacity of 50,000. there's overwhelming demand to go see the man and moved to that big stadium. county bruce is here. you know, this is politics, it's entertainment and i've got to tell you, i love it. he's drawing people into the political debate. >> it is, look. i think it's maybe less entertainment than excitement. in every american there's a little revolutionary not that you would know about this, you know, and it's still in our dna. we move when we hear something that's possible, something that's different. look, what trump is saying even about the pope is true. these are not new revelations, but they're spoke been openly. this is what we're starving for and this is what trump gives us. stuart: who else would say isis is coming to get you. >> they are. stuart: nobody says that. >> look, just in april, italy

arrested 20 al qaeda operatives to attack the vatican pre-september 11th. and one of the plots was to fly a plane into the vatican. an islamist shot pope john paul ii. these are things that we know and people sometimes don't want to talk about it because it's dangerous or uncomfortable. i think that donald trump knows that we've got to be speaking about things. he's right, the capitalism will save the world. stuart: you're a money man, but you've got to be watching this from your perch in bermuda and looking at what's going on in america. >> it's the greatest entertainment there is. i hope that he stays in. scott walker is qualified. and jeb bush looks like the absent minded professor goes in a bathrobe and i don't know why somebody doesn't give him a makeover. all of them are boring except for trump.

i think it's a protest vote of politicians and political correctness. stuart: it's the return of free speech. you're free to say what you think. you're going to offend a few people, but it can be said. >> it's clear speech. forget free speech, it's clear speech. thank you for that. stuart: i'm going to have an editorial on trump later and incorporate your comment, it's clear speech as well as free speech. >> i'll be out of the building. stuart: we've got more on trump. listen to america's mayor, rudy guiliani compared to churchill. >> the idea that he made a transformation, so did ronald reagan, so did i and so did winston churchill. he use today say if you're not a liberal when you're 20 you have no heart. if you're not a conservative by the time you're 40, you have no brain and many, many conservatives at one time were liberals and so the failure, particularly in a city like new york, of the liberal policies,

the city took over was ruined by liberals. he saw the same thing i saw. stuart: that's interesting, trump, reagan, churchill. moore later in the program. the obama administration is acknowledging that iranians will be involved in inspections of the sensitive military sites under a draft arrangement with the united nations. joining us now general jack keane. always a pleasure and good to be here. it's about capitulation. how do we know how far the iranians are to getting a bomb if we can't inspect the key facility. how do we know it's a year away. >> the key is the facility that the iranians have. if you ask our intelligence agency where is one place we need to go to understand what's taking place with iran's nuclear weapon program.

this is the place. and obviously, we cannot trust the iranians they've been lying to us and deceiving us for 35 years and also i may add killing our citizens and soldiers as wellment now, the inspection arm of the u.n., the one organization that's going to get to the bottom of where iran is, is in a broken deal with iran. iran has manipulated them sadly as they've manipulated us. we're not going to get the answer. stuart: it looks like we're going to go forward. the united states has accepted it. and do you think that our level of risk rises significantly now that we're really going to do this deal? >> oh, there's no doubt in my mind about it and the last piece of information that fox and ap has uncovered about iran inspecting themselves at the into number one research facility is irresponsible and

it's going to increase the risk in the region. the reality is congress can know the sweep this under the table. even if you favor the deal, stuart, what should take place before anybody votes on this, they have to see and understand what the aiea is truly going to inspect. what is the protocol secret agreement with iran. how could you possibly vote on deal when the heart of it has to be verification and we don't know what verification means by the organization that's actually doing the inspecting. makes no sense. stuart: what about active service generals, the people who lead our military today? did they have any input on this deal? what do you think their input should be now that the deal is going to go through? >> now, the pentagon did not have much input to this, other than some early meetings that took place with the national security council. this clearly was something, i think, that began even prior,

after the president was elected, prior to his assuming office, the letter went out to the supreme leader of iran and desired by the president to establish detant, and this is the number one foreign policy of the administration to channing policy with iran and this is center stage to this. this has been driven by the white house and largely by the president himself. >> can i ask a last brief question. >> i characterize this, maybe it's extreme. a near surrender by america. am i going too far? >> you're probably going a little too far, but the reality is, we-- the word i use, we're totally disengaged by the middle east and we've enboldened our adversaries and brought fear to our friends as a result of the consequences to our decisions, the world is a more dangerous place i believe to the foreign policy.

yes, that word, we're not surrendering, but made the world a more dangerous place. okay, general jack keane, thank you for being with us this morning. >> good talking to you, stuart. maria: uberwill soon be more than a car on demand service, lauren the story. >> you're going to like this in case you missed it, the world is expanding and the ride sharing app will now bring your food or run your errands. like picking up the dry cleaning or dropping off an on-line order at the post office. uber makes the return for the same fee. services available here in manhattan and they're slivering in other cities as well. sweet tooth loves listen up, focus brands is rolling out delivery service next week using post mates to make the food drop. this is no minimum order, but there is a delivery fee, usually around $5. treasure hunters have recovered

four and a half million dollars worth of gold coins off the coast of florida. 350 coins in all some were royals. they were made for the king of spain in the early 1700's. that's when a fleet of 11 ships that were travelling from cuba to spain were lost at sea during the hurricane, cha-ching. stuart. stuart: thank you, lauren. the hillary clinton e-mail saga involves an angry judge hosted by her husband bill. is he still behind hillary even after all of this. >> when the economy is strong, america is strong. >> i did not have sexual relations with that woman. >> i want them out as soon as they-- >> when will you demand it. >> they're not mine. what difference at this point does it make?

at ally bank no branches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda.

♪ 800,000 hours of supercomputing time, 3 million lines of code, 40,000 sets of eyes, or a million sleepless nights. whether it's building the world's most advanced satellite, the space station, or the next leap in unmanned systems. at boeing, one thing never changes. our passion to make it real. ♪ >> first, we exchange gunfire and now they exchange threats and insults. north korea's leader kim

jong-un tells his troops to be ready, he's looking at speakers at the border. i don't know if the guests are here or not. john is here, it's the first of the atlantic hurricanes of season. winds 80 miles per hour and now experts hope, i repeat, they hope it will move and weaken as it goes over the caribbean. we'll see. to politics, can't get an i way from it, we love it. are unions still backing hillary? joining us democratic strategist. >> is hillary the candidate? >> she's strong and early endorsements from the federation of teachers and the bernie sanders uprising so so

popular, they had to send statements to not endorse because they can't officially endorse bernie sanders. stuart: are you comfortable with na? hillary is running into serious political and legal trouble. do you think you'll have to switch candidates? >> they're looking at othher record overall. electability, you're watching her favorability go down. the unions want someone who represent them and their workers, if they can't get elected, it's not going to do them any good. stuart: i know you're democrat and trump is a republican. he does deals with unions all the time and pays them well. could you get behind trump? >> now, i personally couldn't get behind trump, but i'll tell you something about trump as a political consultant. what he's doing is brilliant in their own. i was listening to john, made a great point about how stale everybody was and how trump is

speaking out. when you're trying to get the right of the right and the political primary, stole enough red meat to get elected. he'll get the 20%, 10% of the right wing republican vote in the union he speaks to when he talks about trade, he's setting himself apart and locking down the honey boo-boo vote. stuart: why couldn't you personally get behind trump? >> because i'm a latino and i think that he's abrasive when talking about it as a whole. i personally couldn't get behind him. stuart: could you see it coming when they say trump is our guy and he's okay with us. >> i think that unions look at endorsement as a whole and collaboration of all of the voting records not just rhetoric, i don't see a day when that will come. stuart: i've got a bet with you which says trump would get 40% of the union vote. what say you? >> well, i've been doing political campaigns for 24 years and never seen any republican in any movement get over 32% and they had a pretty

long lengthy policy record. stuart: so i'm taking the bet off the table. [laughter] >> thanks for being with us, we appreciate it. up next, more bad news for ashley madison users. more info leaked on-line and guess what, we're going to show you where you can find it all. and you have never seen a family of bears like this. frolicking in a pool in the back yard. you've never seen anything like this before because those are new jersey bears. [laughter] . you totalled your brand new car.

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for a free quote today,call liberty mutual insurance at see car insurance in a whole new light. liberty mutual insurance. >> a possible manslaughter charge for caitlyn jenner. sheriff's investigators are looking into a fatal car crash, and jenner was driving in an unsafe way and ran know a lexus. the driver of the lexus died as a result. the ashley madison hack continues to grow. another larger data dump yesterday. e-mails now include military and white house official addresses. cheryl, how do you find out if somebody's name is on the cheater's list. >> i checked, stuart, you're not on this and neither am i.

john, you're not there, either. stuart: how do i check? >> a full screen. you have to put in your e-mail address, it's this. and this programmer will search the data base for you, you can't find anything more than whether or not your e-mail is listed on there. stuart: so i go to that website and then put in the e-mail address of the person i want to know about. >> yeah, you can put in anybody's. stuart: and shows me whether that person is on the list. that's as far as it goes? >> yeah, it gives you some information, advice because a lot of the e-mails are fake on ashley madison. people are using fake identities, the smart ones, the dumb ones put their real address in there and now it's all over the internet. those fake e-mails. >> if there's a john layfield from bermuda, it's not me, it's

fake. stuart: and the juicy stuff and sexual preferences and stuff-- >> that's on the dark web. a lot of people don't know what the dark web is, it's where sick and disgusting criminal activity happens that's where the true details for ashley madison is happening. and some people are admitting publicly they were on the website. stuart: cheryl, thank you. we're moments away from the opening on wall street. it looks like we'll be down more, maybe 120, 130 down from yesterday. and netflix, listen to this, they're one year maternity plan is only given to the highest paid staff. a lot of their workers are left out of that plan. more varney, opening bell next. it's more than a network and the cloud.

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>> we're totally disengaged from the middle east, we're pulling back. we have frustrated and brought fear to our friends, as a result of the consequences of our decisions. the world's a more dangerous place, i believe, as a result of u.s. foreign policy. stuart: strong criticism there from general jack keane talking about those iran self-inspections. in a few seconds we're going to

get the start of trading on wall street. not sure we want to get into this. we're going to be down. shows a move for 160 at the dow industrials. the bell is ringing, in three or four seconds we start trading and i confidently expect to see some red arrows pretty much across the board. here we go. trading has begun and the dow is down 9, all right now 35. you know the story. we're counting down literally as we go ahead. cheryl casone is here and john layfield is here and in chicago, scott shellady. right from the get-go. how much lower are we going in this leg of the down side move? >> i saw someone who thought we were going into a bull market. stuart: bull market? >> i'm sorry, a bear market. i'm not sure we'll do that, we could go 5 to 10% lower, i think really it is levelling out around labor day. i'm not a bear here, i'm just waiting and waiting. stuart: trying to do the math,

a 5 to 10% down from here. >> 5%. stuart: 800 points roughly. to 16,on the cusp of 15-k. >> we haven't had a 10% pullback for a long time. i think it's a natural course of action that something like that could happen. i don't think it's the end of the world, but it could happen. >> you don't have the fundamentals of the economy, whether it's this country or several other countries in the world. stocks cannot continue to go up. i don't care what janet yellen does or the fed, trade is over for now. stuart: scott shellady, you're a commodities guy and i want your take on the stock market. he looks very uncomfortable. how far down? >> we're on the precipice, we look at the geometric composite and 1700 stocks, a much better view of the stock index, and we're on a trendline from 2009. if we go much lower than we are now, yes, we will then be into

a bear market and whoever would have thought we could have our stocks at all-time highs. do you feel the economy is at an all-time high? it's been fed induced, but i think it's healthy. the problem is there are a lot of trieders that haven't seen us down 10% in the trading career and it will be a good thing in the long run. stuart: we here you. we're down 159, 160 points and every single one of the 30 stocks on the dow industrials are in the red, that means they're down. every single one of them. netflix, apple, facebook, amazon, they are the big names and we talk about the big names every single day because they have led this market up. all of them got beaten up yesterday. here is how they are trading right now at the opening bell this friday morning. we're all down again. some of them significant losses. all of them are down. now, john, i want to go through those one a the a time. first of all, netflix, down another 6 bucks. i think that looked to me like 6%, yeah, yeah, are you buying

on that dip? i think it's got potential here? >> i love netflix, how we view tv is changing, look a the pay-per-view market, they cannibalized it. and netflix, there are great competitions from amazon and apple. that scares me and that's a premium for the company. not buying netflix here. stuart: let's go to apple, they're down again today. i don't think they've got the same huge percentage loss. would you buy apple at 110? >> as soon as you shake the market, yes, i'd be a buyer of apple. i think they'll end up with nfl rights and that nfl is going on something like apple tv or nba and the same with the nfl in the 90's. >> what you just said might be enough to give it a bounce. we shall see. facebook, a huge drop yesterday, how about that today? put that on the screen and down another 4% at 86. are you buying at 86? >> they have figured video out and figured video out on mobile. you look at what a lot of the companies are doing putting

this on here as far as business-wise. yes, i love facebook here. >> okay. and how about-- i'm sorry? >> video wise, talking about facebook, the user generated concept or the actual advertising? >> the wwb puts it on and these guys are putting stuff on facebook and getting add general ted revenue. they're now one of the leaders in mobile. >> i like what he said about apple being the franchise of the nfl. say it again. >> google had been i think on drake's ticket. i believe somebody like apple, if you've got 60 billion, why not spend 10 billion on the nfl rights. you make the nfl a fortune, you make apple tv, same as rupert murdoch did and they talked sports when everybody said he massively overpaid. what he did was, it made fox. stuart: you hadered it here

first on apple. >> i think it's a possibility. i have no insider knowledge of this, i think it's a great possibility. stuart: how about amazon, now, they've had a terrific run up in the last three, four weeks, now it's down to the 500 mark, down another 1 1/2%, you like it at 507? >> i think that the clouds, they're putting the profits back into the business and that's what a ceo does. stuart: let me recap here, we've got four stocks that we every single day. you don't like netflix at this level. >> correct. >> you do like apple at this level. >> facebook, you like it. >> i like facebook. >> the last one is amazon. >> i i'd let this market shake out for a week before you buy. a lot of people are going to be pleased what you hear. now we've got twitter, their shares and stock price fell below the price for the public.

where is the stock now? >> what a tough day, another record low for twitter, 25.80. and managing director over at global equity research managing director said sell now, guess what? he's probably right. when you look at it today, he again, today reiterated that because he thinks that it's going to be between 15 and $18 a share, and 25, i mean, he thinks it has room to the down side. so, with this, the life cycle is pretty short is what he's saying. one voice, you know, people who still love it. but the big picture, stepped down in june down 30% since then. >> i put it to you, twitter desperately needs a ceo and effective dynamic ceo. >> yeah, they've got an incredible platform. look how they've changed the nielsen ratings. they haven't found a way to monetize that. >> you've got the people hooked

into twitter and can't make money on it. >> that's the problem. >> even with periscope. people don't like live video as much as they thought. a good quality like video. >> how many opportunities do you have for periscope to work? how many donald trump sightings do you have? >> how many great pieces of bear video do you have? >> back to new jersey and the bears? >> and facebook, facebook, where do you think we saw that first. >> the jersey bear on video. stuart: and scott shellady is sitting there in chicago, when are they going to get to me to ask about oil? now is your moment. we've been talking about it all week, is today the day we get to $39 a barrel, yes or no, scott? >> i think we-- no, i don't think we do, but i think we go another low $40 a barrel area. so we're going to need another impetus. we can't keep going down that quickly. if the stock market keeps selling off. we talk about supply and demand in the oil market. supply is up four times as much. so, that's not going to be

good. what happens when we overproduce some things? we start shutting them down, we need to start getting rid of people. another bad thing for the economy because a lot of jobs from '08 came from an energy sector and that's going to drive the oil price lower. september to november, there's nothing bullish on the horizon and that's why i think ultimately between 35 and 32 and take our time getting there. >> real fast. what are you paying for gas right now in chicago? >> well, you know what? it's crazy because we had that bp refinery shut down and i'm paying-- i was paying 2.40 and now 3.10, it's ridiculous. so when we-- once that refinery comes back on-line in a month, it will drop significantly, but overnight they went up 65 cents here. stuart: okay. take a big deep breath. don't worry, son, don't worry. >> i'm walking to work, yeah. stuart: and i'm going to be in chicago the end of september. i don't expect to be paying 3.10 for a gallon of gas. delta and american airlines, we

put them on the screen because john layfield likes them and thinks you should buy them. >> i own both. airlines lost money since wright brothers were sued over world war i. a terrible company and sector, i think now they're starting to get cheap. i think after labor day, the gas price also get lower, especially if the iran deal gets done, take gas prices lower. i like airlines right here. stuart: delta and american, we heard you. >> i own them and i'm going to buy more. stuart: puts his money where his mouth is. that's pretty good. i want to move on to china. can they get out of the big trouble they're in. if they can't get out of the trouble they're in, does it hurt us more? scott shellady, answer, please? >> no, they can't get out of their trouble and the reason why, over the last 20 years, they've grown by 56 times. so i want to hear another person tell me there's going to be a soft landing in china. there's no way you could have a soft landing 20 years growth 56 times, that's why they're in

trouble and ultimately devalues the currency and things are getting more expensive from them for us. that's a problem and our companies are going to get hit here and that's why you're seeing the commodities come off as well. so we're going to start shutting down commodities, zinc, copper, iron ore. yes, it's coming this way, no soft landing, china is in big trouble. stuart: i'm going to ask john the same question. alibab alibaba, a new all-time low. can china get out of its trouble, if it can't, are we in for more trouble? >> i agree, china cannot get out of its trouble. i don't think it's going to be as big impact. i disagree with that part of it. we look like what would happen, it did not have a huge effect on us and they will affect us, but not much. >> look at netflix again. that's taken a big hit in the last couple of days, that's the stock price, it's way down. there is news on netflix, it's

not going to affect the stock price, but here is the news, not everyone gets the one year off maternity leave that was trumpeted big time a couple weeks ago. only the very top paid people actually get that maternity leave deal. you've got to read the fine print. >> you do, and i did. it's the dvd sorting and dvd's that they mail out of people, that group of workers is not getting access to the paid ma interpret time off and actually there's activists groups forming, 450 employees and they're forming and starting to sign on-line petition against netflix staying this is discrimination against them and saying we're lower paid and stuffing the envelopes with the dvd's and the programming and streaming to netflix, if financially the higher paid workers are getting the year off. >> they're getting the year off deal. but the streaming people essentially. >> the streaming people. but the people stuffing the envelopes, lower paid folks, they're not getting anything. not getting access.

making a public stink about it. stuart: does that surprise you? >> know the at all. stuart: that's a dying business, how many people get a dvd in the mail? >> obviously they're going to get rid of it. but do you discriminate over a group of employees? >> john? >> i think it's a simple marketing economics. there's a reason that bad boy doesn't make as much as derek jeter does. and it's a matter of input. if you want a maternity leave, become a programmer, that's the harsh reality. >> that's rough, but i tell you this, netflix to get back to the stock, it's still the best performing stock of 2015 despite what you're seeing on the screen today, the stock is strong. stuart: changing the subject. >> i don't want to get this trouble or get into a fight. stuart: you're not going to get in trouble. >> you can't tell one person you can have this jig and the other person-- >> why not? >> netflix is an american company and it's a bat example to set.

you're picking and choosing who you're giving benefits to. stuart: absolutely, what's wrong with that. you get rewarded if you're doing the job and making the money and creating the profits. give them the money. >> my health care plan. what am i doing, nothing. stuart: and friday morning, we've opened 13 points ago and opened down, 156 points down and look at that level. 16,800. and now look at this. "varney & company" has now been verified on facebook. that's a big deal. more on that. it is a big deal. >> you just got that? >> amazon rolling out these bot tons, these buttons on the screen. you just push the button and products are ordered over the net and sent to your house. amazon dash. full explanation in a moment. am i going to use one of these things?

at ally bank no branches equals great rates. it's a fact. kind of like shopping hungry equals overshopping.

>> oh, dear. we were down 200 points moments ago and now a mere 186. we're challenging 16-8 at the dow. john deere, profit down 40% and that's not good on the economy. that takes it on the chin down 8%. gopro another big name beaten up yesterday and beaten up today. gopro is at 49. sales force, they've got story, bouncing back. and 70 on the sales force. have you ever been at home and realized too late you're out of a crucial product, might be toilet paper, might be a razor. amazon wants to make sure that doesn't happen to you with this, with that. okay. a little button called the amazon dash.

josh march of converse social is here. what's this all about? >> i'm going to demonstrate. i was told i've got to demonstrate it. put it on camera and that one there. >> yeah. >> if i press this button, the blue light goes on. a product, i think it's toilet paper will arrive at his house because this is his dash. funny, very much indeed. we'll put that down here. okay, so i think this is a terrific idea. >> if it worked like that, it would be. i mean, it's a bit of fun and it's only for one particular product. and to get in size pack and you press that and comes up two days later. stuart: i get free shipping if i'm a prime member. >> it could be really useful and you have to look at the advertisements around your house and apartments with the different product names and

people are complaining it's restricted so the most expensive products. right. >> you could shop for cheaper. the idea is great. it's part of a wider concept among other things. how can we enable everything in our houses and around to be condu connected to the internet and simpler. and they have essentials to really transform how we interact with our environments and this is a small part of that. >> i'm not a technical person at all, but i can see on my refrigerators, i need more dog food, press it. >> what you want is an intelligent refrigerator which knows your eating mabts habits and running low. stuart: i don't trust that. >> no? >> it's reading my preferences for me. >> that's the way that the world is going. look at things like google now. which is exciting and they're into predicting what you want and recommending things to you when you're walking down the

street. stuart: it's frightening. >> that's the future of how things are going. stuart: i'm not a button pressing guy. i don't trust these. like we saw the news this week that facebook is overtaking google as a source of content and news. because facebook is pushing the news articles or media they think are relevant for you rather than you having to search for it. that's the way that it's going. stuart: on that note, josh. on that note, look at this, some pages are verified by facebook to let people know that they are the real thing. and "varney & company" is one of them. see that little blue check, you know about this, obviously, i don't. >> congratulations. stuart: and-- >> it means that you're officially verified as a public figure and someone on facebook, they probably watch your show and they like it and means anyone coming to the major knows it's genuine and getting to interact with you or your team. stuart: excellent. josh marsh, you can come back any day you like. and we appreciate it.

good stuff. next, dramatic footage out of washington state. a motel exploding. this video of the blast has just been released and you are going to see it. look at that place. i think it's just one room, but it brought down a wing, did it not? and the anchor baby debate. hillary clinton now making it all about political correctness. former governor mike huckabee called it out. >> it's interesting she said they're called babies. and i'm thinking, hillary, have you seen the planned parenthood video? they are called babies. cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line.

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>> one more time the explosion happened at motel 6 in washington state tuesday night. the motel's manager is credited with saving maybe 60 lives because of her quick thinking. she smelled gas and evacuated the building. a worker was injured in the explosion, but no deaths were reported. look at that damage. motel 6 washington state. family of bears caught frolicking in the back yard in new jersey. why are we running this? >> because animal videos rate. stuart: that's a friday and that's a black bear and five cubs, you're right, that would rate. people will watch. >> the internet was made for animal videos.

>> i want to know how you got them out of there. >> they left on their own. >> they did? >> they left the toys behind and said, okay, we're done and play time is over. >> that's my kind of bear, the new jersey bear. >> the river pollution from the mine spill in colorado. it flowed through three states and get this. that's not the first time the epa created a toxic waste spill in a river. same thing in georgia five months ago. >> why did the epa manage to cover that up and didn't get in trouble for it? >> greensboro, georgia, they were inspecting an old water mill site and the contractors hit the water main and toxic water came spilling out and it contaminated. what was in here, mercury lead, arsenic, chromium went into the river here in georgia, no follow-up. stuart: and obviously it was accidental. if that had about and private enterprise or oil company, for example, the owners, the manager of that oil company

would have been hung out to dry. they would have nailed them to the wall, but not the epa. >> this is like a firefighter starting a fire. this is insane. the guys supposed to watch over our environment and the ones causing the problems. and yes, i think they are the problem here. stuart: we got it, thank you very much, ladies and gentlemen, donald trump. can't get away interest this guy, can't get away from him. he's got a message for pope francis, stop worrying about the eves of capitalism and start worrying about isis. you wait until you hear exactly what he said. ambassador john bolten on that story in a moment and you go go on-line to check if your spouse was on-- was an ashley madison user. it's going to be a windfall for the divorce attorneys ap we have an attorney raring to go. second hour of "varney & company," two minutes away. [ male announcer ] whether it takes 200,000 parts,

♪ 800,000 hours of supercomputing time, 3 million lines of code, 40,000 sets of eyes, or a million sleepless nights. whether it's building the world's most advanced satellite, the space station, or the next leap in unmanned systems. at boeing, one thing never changes. our passion to make it real. ♪ >> almost 10:00 eastern time. first, donald trump holding a huge campaign event tonight.

and one of the country's most prominent republicans now comparing trump to ronald reagan. another data dump from the ashley madison hack. you can go on-line to check if your spouse has been cheating on you. we'll tell you how to do it. it's going to be a windfall for the divorce attorneys and we'll have one with us today. california's drought relief plan back fires. millions of those black balls dumped into a reservoir meant to prevent evaporation. it turns out it could be a bacteria laden petrie dish. the dow is down triple digits and we're watching that all morning. hour two of "varney & company" starts now. ♪ well, it's friday morning and it follows a big drop yesterday. we were down 200 and now it's 142. 16-8 is where the dow is.

look at john deere, cut its sales outlook, don't do that. it's down 6%, that's a big drop for that company. 84 on deere. how about netflix, fourth straight session of losses, down $3 now at 109, netflix. look at oil. when will it break below $40 a barrel? scott shellady earlier today said not today. gas did go down sharply overnight, a loss of two cents. the national average down to 2.63. and we're down about a dime in the last month. former new york city mayor rudy guiliani comparing trump to reagan and churchill. >> listen to this. >> the idea that he made a transformation. so did ronald reagan, so did i and so did winston churchill. winston churchill used to say if you're not a liberal when you're 20, you don't have a heart. if you aren't a conservative by the time you're 40, you don't have a brave. many, many conservatives were

at one time liberals and saw the failure, particularly in a city like new york, of the liberal policies. the city i took over was ruined by liberals. he lived in the same city. he saw the same thing i saw. stuart: okay. hold on a second. look, he's not comparing the stature of churchill and a reagan and a trump. >> right. stuart: he's saying they converted their politics as younger people is what he's saying. >> he's saying that practically speaking, you don't stay an idiolog when you see this, and kennedy and moynihan would not recognize their own party today. their own party today would say they talk like wall street editorial writers, but moynihan said the government cannot mandate goodness. the government cannot mandate how to return the economy from washington d.c. agencies and every-- almost every democratic platform since the 60's, stuart, democrat, has been

either about small taxes, tax cuts to create growth, small government and lower government spending. so there was an identity crisis in the democratic party that started in 2008. stuart: i like the way that rudy pointed that out. hold on a second. >> sure. stuart: liz, listen to what donald trump said about the pope. roll tape. >> i'd say isis wants to get you. you know that isis wants to go in and take over the vatican? you have heard that? you know that's a dream of theirs to go into italy. if you look at what's going on, they better hope that capitalism works because it's the only thing we have right now and it's a great thing when a works properly. stuart: i know liz probably has something to say about that and-- >> sure i'll take a crack at it. stuart: who else is here, former u.s. ambassador to the hun, this is john bolten. how do you feel about appearing on a news program at the top of the hour, commenting on donald trump, commenting on the pope?

>> it could be a first for me, but i'd say this, not with respect to pope francis, but i think that religious figures should confine their attention to saving our immortal sales. and while they are views on economy are no better than the next person, when they get out of their appointed rounds, i'm happy about what the pope has to say, but don't pay attention. stuart: i was happy to hear trump say it. stop worrying about the economy, but isis, who would do that except trump? >> what we're seeing, it's not the bad donald trump any more than carly fiorina or ben carson and bernie sanders on the other side. this is how they spend this.

>> you're a diplomate. you spent your life in diplomacy. you don't talk like that. if donald trump was the president, you'd be upset. >> i'm not sure. stuart: really? >> in america, plain speaking is a virtue. stuart: you'll leave it at that? this is television, ambassador. >> you said i was a diplomate. [laughter] >> you can't give me a four-word answer. i'm waiting for more, what i go to think what am i going to say next? some r something serious next. the iran deal, the fact that they'll inspect their own. this is a sellout of the deal. i don't see how any lauer-- lawmaker could vote on this deal. >> there is one focus on the broader military aspects. having read the one document, i don't think that the iaea

negotiated this with iran alone. i think that john negotiated it. that's the hiypothesis for them to hold more hearings on. i think what happened, iran says here is what we're prepared to do to address this possible military issue. i think that he took it back to kerry and said, this is what they want, can you live with it? he may have said get this fix or that fix. it's what the member government wants and when five permanent members of the security council led by the united states said we want this done, they'll do what we want. i think that congress ought to be asking, what the secretary knew, what the president knew, where they have to. they have to. the corker pressure which allows congress on the other side of the deal. everything has to be be made known to congress.

>> i would say not only do i want to see the other deal, how can you mention them in the document themselves and not know what is in them? . i want to know beyond that, not just are there deals. did the united states give assurances to iran on this issue or that issue or other. did we give ashursurances to th european russians. what else did we say outside of the four corners of that signed deal? >> ambassador, this is a total capitulation. i don't know if i'd go that far, but-- >> i call it an american diplomatic waterloo. stuart: i'm not being funny here, i think it's that dramatic. and capitulate. >> i think it's the worst negotiation by the wednesday since municmunich.

this deal is on track. stuart: what a dismal way to start a friday morning. i'm glad that you addressed donald trump. >> we can talk about the pope again if you want. stuart: no, i'm going to leave that to liz. mr. ambassador, thank you so much. >> appreciate it. stuart: remember those old cd's, dvd's, very few people buy them anymore so states are not getting the sales taxes from them. but those tax happy states now want to tax your video streaming for places like netflix, of course. elizabeth, your comments on the pope. what's going on? >> wow, this is a big deal. and so, what's happening is these, as you said, the tax happy states. they're not doing so great. some of them are in big trouble and also cities like chicago. they're saying we need to get sales taxes from dvd's, from mr. blu-ray risk discs.

we're not going to tax your streaming service, because it's a service we're not going to tax it. when you see european taxes going into video streaming, states are pushing to tax services so that's an interesting thing to make more money off of new technologies like netflix. stuart: we've got to get the terminology right. not that they're going to tax streaming instead of dvd's, they want to tax services which is a bigger area and applies more tax revenue if they can get at it. >> you dent fizz chi own the movie rental. stuart: but they're going to tax it. >> try to tax it. netflix is fighting this by the way. all of our bills could go up because netflix would pass on the food tax. we haven't heard from apple. if you buy it, you own it. will apple be the tax state

effectively like amazon for these states? that's an important trend. the states are a laboratory how we do taxation in this country, and netflix is fighting back. stuart: it's a very, very different story, a whole new area of taxation. you can see it coming. >> legal services, accounting services, video streaming services. some states are pushing back against it including idaho, vermont and alabama. stuart: what a friday morning. the ambassador on and-- we're down 126. check it, please, yeah, still down triple digits, coming back a bit. we were down and now 126. are the markets going to slide? that's the obvious question, mark, will this market continue to slide? go. >> hey, you know, stuart, i think that the market's been overdue for a correction. as long as there are really big concerns about global growth. i think there's some additional pressure. and you just mentioned you will

see the buy the dip personality, but i think as the growth numbers tn to appoint. stuart: you're not going to cluck a whole bunch of money into the stock market anytime soon? >> i think in the market as a whole, no. but i think there are pockets of the market where there are very interesting things and i like to buy things when they go on sale and a lot of things have gone on state lightly. maria: give me two ideas what's gone on sale. what did you buy? >> one thing we liked was verizon pharma. he's a specialty company. we like them because they've got a great lineup of drugs and a great distribution and sold off a little bit here with the selloff. stuart: do you own it, mark? >> we do own it in our friends, yes. stuart: next one? >> what i really like here is,

surprisingly here is emerging markets. everybody hates them and they're down and down a lot. we're starting to nibble along the wages. stuart: when you say emerging markets, how do i buy, as an individual investor. how do i buy an emerging market? >> a couple of waist. you could go broad and buy an etf like eem. or mar narrow something like fxi in china or epi in india. if you wanted to get more specialized. stuart: okay. and in dangerous water, none the necessaless, bargain shoppi i'm sorry to cut it short. here is lauren simonetti with the rest of the headlines. >> samsung wants iphone users to switch over to in you devices. you can drew them for a buck.

that's the galaxy and no strings ataechd. attached. the social part of facebook accounts for more of news trafficen that google. win for facebook. and how long the lines at security and the lines at the taxi pickup and the custom lines will be. by tracking passengers to left on their wi-fi or blew tooth. you'll notice them at jfk terminal four. you're probably concerned about your privacy right now. the company at that gathers you that data, that cannot be traced back to you. >> doesn't found like a bad idea to me. >> i like knowing how long the lines are, but also i like my privacy.

stuart: 5:00, monday morning, you've got to tune in. cheaters exposed. you can go to this website to find out if your spouse/part fler partner was an ashley madison user.

>> dare i say it look likes we're stabilizing with a triple-digit loss of about 150 points. we were down 200 and now 150, where we're at. 25 and change, and twitter. alibaba hit an all time low of 68 earlier. a slight bounce there, 70 on alibaba now. intuit, they make tax prep software, disappointing forecast, down 11%.

less money flowing in, hurt by weak pc sales and low demand for their corporate services and the stock is up, however, and corporate up 5 1/2%. citigroup upgraded it to a buy rating and up she goes. we're keeping track of hurricane danny, the first atlantic hurricane of the season. getting stronger and moving to the virgin islands of puerto rico. winds 80 miles per hour, experts hope, repeat hope it moves over the caribbean and weakens we'll see. the ashley madison hack. another data dump. this one larger than the last. e-mail addresses that are linked to the site now include military and white house official addresses. if you're concerned that your spouse may be on it. here is the website to check, i'm not going to read it out. just look at it, memorize it, check through the website and you can see who solver -- who solver you check is on the

list. >> and in the divorce business, this is a bonanza for you guys, isn't it? >> well, there's no question that divorces are going to flow from this. i don't think that it's a positive thing for our culture and for our society generally, but there's no question that divorce lawyers are going to see more business as a result of this. >> is this the talk of the industry. do you have people coming to you saying, hey, check this out? >> oh, yeah, i mean, we, of course, at cordell and cordell, we have 200 or so divorce lawyers and yeah, our phone has been ringing. guys want to know, is this admissible. can this be admitted into court and there are lots of practical considerations, one thing that gets very little attention, stuart and divorce lawyers see from the inside, while this is comical in a way and there's a certain satisfaction in fact that they're revealed. as a practical matter there's a lot of devastation that goes

from the divorce, the hardship on kids and on people's health. i mean, there are consequences for adultery. >> understood. i mean, this is not all smiles and hey, in court. i'm not taking that approach. but i am going to ask you if you looked into this list and a client came to and you said, look, this is my spouse on the list, i want a divorce, would it hold up in court? >> i think for the most part that this evidence, there will be a little variable from state to state, but i think for the most part this evidence will be admissible. though obtained illegally by a third party, the person offering the evidence doesn't have unclean hands. have you actively started to look into this. you've got lawyers across the country. i presume you've got a unit somewhere following up on this and getting the list? >> well, we don't actually

recruit clients that way, but i will tell you that if they think we were contacted is incumbent on us to act quickly if we can. we follow up for our clients and that's part of our job. >> joe cordell, i know it's a difficult subject and we're going to hear more on it. i think you'll be back. appreciate it. >> thank you, stuart for having me on. sure thing. >> economists around the globe, yeah, that's slowing. hours could follow suit. yet, our leaders don't appear to have a real serious man to fix things. my take on that is next. technology empowers us to achieve more. it pushes us to go further. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or information

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>> we have found a winner on a down day. the name is sales force, it's a winner for the third time this year, they said they're going to bring in more money. the market loves that kind of thing.

another down day for disney, investment firm cowan and company cut the price target. it was 98 and now 89 and businesses dropped below 100. i want to correct myself on something i mentioned earlier this week. i told you how the wind industry is hiding an ugly secret. the wind turbines kill hundreds of thousands of birds a year including golden eagles. all of that is indeed absolutely true, got it right. however, i referred to the golden eagle as america's symbol. viewer from montana e-mailed me to remind me america's symbol is another bird, the bald eagle. thanks indeed, i did get it wrong. a solution to the problem back fired, it was supposed to prevent evaporation and it's a breeding ground.

a man fights off a bear with his bare hands. he couldn't have done it without the help of his ten pound dog. we'll talk about it later this hour. what are we going to do if our economy slows? that's a fair question. just about every place else is in bad economic shape. if we follow suit, we may, what will the obama team come up with. what will current front runner hillary clinton suggest? how do we get out of this looming mess? well, the traditional fix is a big interest rate cut. well, can't do that. rates are already at near zero. we could print a lot of money. well, we're already pumped out 4 trillion. we could cut income taxes, that worked well for ronald reagan and john kennedy. let's be real. this president will never let people keep more of what they make. that will be a give away to the rich. that would bring back 2 trillion parked overseas, that

would be a great shot in the arm. get real. this is not exactly pro business, is it? instead this president wants to spend more, that's his policy. it's hillary clinton's policy, too. but it won't work, we've been doing it for years and it's driven us into chronic debt. so, we can't cut rates. democrats won't cut taxes and spending more hasn't worked and won't work in the future. we are stuck. there's no relief in sight. president obama wants to raise taxes and hillary clinton wants a new big spending entitlement program. bernie sanders is comfortable with a 90% tax rate and we haven't mentioned the vast cost increases the climate guys will stick on you. we are stuck, led by people who have no clue about how to fix the economy. no crew to returning to prosperity. that's why there's so much unease and anxiety.

when you're not confident your company's data is secure, the possibility of a breach can quickly become the only thing you think about. that's where at&t can help. at at&t we monitor our network traffic so we can see things others can't. mitigating risks across your business. leaving you free to focus on what matters most.

>> through the markets dow down triple digits, exactly 1% as we speak. you can call us well, oil 40 dollars and 59 cents barrel waiting to see what good 39 it hasn't yet. good news gas went down overnight two cents lower at 2.63 that is your national average. individual stocks are moving. deer extending its loss down 7%. outlook looks bleak for agriculture for the rest of this year. down $6. so the democrats please, democrats strategist jessica is here. why are you smiling? >> because you introduced me. [laughter] if you want to know the truth. >> did democrats teach you to look into the camera and smile no matter who is asking the questions? >> doug asked me to do that.

[laughter] the democrat. >> he's still a democrat i understand. >> he is. he told me yesterday. >> are you comfortable with hillary clinton as your candidate, the very likely candidate going into the election badly wounded as she is? >> what i'm comfortable is hillary clinton's policies. and less comfortable with some of the decisions that she's made the server it is a wait and see situation right now. >> can you assess how much trouble she's in? >> i think the polls they're doing a pretty good job of assessing it. latest is 60% of voters in which she's not in trustworthy, and a third of voters say that honest and trustworthiness is number one quality which is why they're turning to bernie sanders they believe it, and they're going for it. >> give me a judgment from inside the democrats -- are you pretty close to dumping hillary? >> no. i don't think that's true. no, i think latest. >> close to joe biden making a run? >> that i believe is possible.

but the issue there for me is i really like joe biden i think he's fantastic someone who believes what he says and does what he means but they need the same infrastructure to run this campaign, and infrastructure is squarely behind hillary clinton right now. you're talking about biden and clinton supporters would be from a very similar pool. i don't know if money and support is ready to shift over to joe biden but i certainly understand why they're talking about it. >> it would be a catastrophic split. >> it would be really crazy. >> to rent -- >> it is shocking that bernie sanders and hillary can coexist at this moment if you think about add aing in a biden or gore or get that peace prize he might throw his hat in the ring there too. >> do you think john kerry will get the peace -- nuke vender? >> john kerry may for obama got a peace prize. >> only fair. >> stewart as we were talking at the break do you think that democrats polled the jewish vote

girch the, you know, how the iran deal is -- >> a really tough call . >> unfortunate to israel. >> we'll see what happens increasingly with schumer and menendez coming out against the. there maybe more democrats to follow, and we were -- it is a real wait and see situation again with hillary but there's a long tradition of jewish -- voting for democrats. >> 70% of the jewish vote has more than that goes to the democrats. >> i think it is very is very hard to poll them. >> are you going to get 70% and bearing in mind this retreat catastrophe of the iran nuke deal. >> a lot of people believe that hillary clinton is more supportive of israel than necessarily president obama is and i think it takes a lot to change political allegiance you know that. >> the nuke deal. >> well we're unclear at this point. >> that sin credible. >> it is -- what is going on here? >> he recollected have a stand on it. >> i thinking in weeks to come that that will come out before there's a vote on it we need to

hear something more definitive but seen hillary buck foreign policy with the obama administration she did i guess after the fact sha they said you know about syria that she would have conducted air strikes if we draw a redline we should stick to that red line from muscular diplomacy with the threat of force behind it, and a hillary clinton is -- it is actually a very different foreign policy. >> i'm smiling because you're still smiling at the end of this interview and sticking with the democrat. >> you thought i was going to leave here a republican? >> why not? come on. >> the reason -- >> you're not an inclusive party when you have a candidate -- i would vote for you stuart varney i would not vote for a republican. not inclusive party when you think about what donald trump -- kasich is only candidate i've heard thus far who is outlined a vision for this country that is inclusive. >> capitalism is inclusive. socialism encourages yell city. >> we're not socialist it is a

democrat so hillary clinton is a compassionate capital -- >> all government all of the time is neosocialist and devicive and encourages jealousy. that's not inclusion. >> that sounds like with your accent. >> on to something here. interview is over. but we did well. >> thank you thanks very much indeed. o no we appreciate it. thanks a lot, thank you. let's go to california. why not? they're beginning to vote democrat come what may. going u through one of the worst droughtings in decades doing everything possible to save the one they've got left including this. dumping nearly 100 million black shade balls into res voirs to prevent water from evaporating. there's a problem. those boards can actually speed up evaporation and breed bacteria come in. tax reform author james lacey. i want you to act as a reporter o potessed to a pundit today. can you do that? [laughter]

happy to do that but i have a view on that. yes it is true there's 60 mi polyethylene four inch balls floating in los angeles drinking water, and the reason that they're there is supposedly because of an epa mandate that drinking water reservoirs actually be covered that's an e pa mandate. what gill garcetti and los angeles department of water and power are trying to do by this 34 million dollar expenditure for these black balls is accomplish two purposes within they're trying satisfy the epa mandate. but they're also trying to reduce evaporation of the water because according to their science, it will save 300 million gallons of water a year. now this science -- >> okay. we know it is not working. we're told that it is actually encouraging evaporation and we're told that it is turning

that reservoir into a large petry dish of bacteria so what's the plan, is there any plan to get ball out and who is taking responsibility for what looks like a debacle? >> well they don't buy that argument stuart. there is -- very significant scientists it that say there's a health scientist that recently told one of the news outlet it is that black was just an absolutely ridiculous idea for these l baas because black conduces heat. it doesn't reflect heat. the correct color should have been white or chrome or color that would reflects the heat and by con dyings heat it is creating more evaporation and creating contamination because of the hot surface that it -- result it is to go against the epa mandate. here's the thing, the national -- natural resources defense counsel which is with all of the

stupid ideas, wonts issue a comment on this. but the reality is, is that one of their staffers said that there probably wouldn't be any toxes i toxicity added to the water for coated balls that are in the water. there's no question in my mind these have not helped the situation. i don't know that they will have a plan to take the balls out but fuji waters i don't know if that is the future but future ought to be much higher because i'm drinking bottled water to protect -- let me mention -- >> james sorry out of time. no, hold on i have a hard break. if i want to go into a break cutting you off amid sentence so i have to go. but thanks very much indeed we appreciate your input today you're a good reporter by the way. good stuff. let's get to the sector report shall we? we do every day. big tech names and we watch them netflix, amazon, facebook, apple

all taking another hit today. they were down huge yesterday. and they're down again today these are big main stocks mag the running this year. not all bad news, however, twitter beaten down to 25, staying at 25 at bounce back to 26 earlier all right there you go. 26 right now so it is not continued, it is decline. donald trump says he'll use every loophole he can to pay as lings in tax as possible and it is working for him. we'll tell you how he managed to get a $168 million tax break on one of the big projects, that's coming up, and facebook tells catholic priest that he can't use the title monsieur in his profile. an outrage ensues. hi my name is tom. i'm raph. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom. don't let unanswered legal questions hold you up, because we're here, we're here, and we've got your back. legalzoom. legal help is here.

at ally bank no branches equalsit's a fact.. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. ♪ 800,000 hours of supercomputing time, 3 million lines of code, 40,000 sets of eyes, or a million sleepless nights. whether it's building the world's most advanced satellite, the space station, or the next leap in unmanned systems. at boeing, one thing never changes. our passion to make it real. ♪ can a a subconscious. mind?. a knack for predicting the future. reflexes faster than the speed of thought.

can a business have a spirit? can a business have a soul? can a business be...alive? >> i'm nicole petallides with your fox business brief we have a global selloff this week that continues today with the dow jones industrial average down about 200 points as we speak. 1.1% dropped, the s&p 500 and nasdaq also under pressure and at this point with the s&p and the dow in negative territory, the dow has left over 1,000 points this year. including boeing, nike and gotd man sax and a a a it will some of your laggers todays new lows for both the gap and alibaba near the ipo price but a new low there, 69.83 and the gap under pressure with profits of strong dollar hurting sales and looking

to get that out there. hewlett pack aired came out with their quarterly report with the downside now up about 6% up about 5% right now. we want you to start your day right here on fox business. lauren simonetti and i host 5 a.m. and get you started for your day.

>> facebook told catholic priest he can't use the title monsieur on his personal account why not? >> facebook has rules that say we don't want nicknames we don't want titles. we're worried about keeping our community on facebook safe so they do say listen, 2340 no titles nothing look that we don't want anything that looks like a pseudonym or anything that suggests you're not the person represented by name but he's saying tweeting us saying this is unfair to me being a -- catholic senior is my identity, but you know even native americans are getting caught up in this too. dana lone hill for example is a native american facebook said that is not -- they questioned that whether that was her name so facebook is trying to keep their community safe that's what that i shall rules are for. >> i'm not outraged for not using monsieur. >> in the profile but facebook says listen, you have also other

pages where you can say you're a monsieur, and now in his picture it says month senior -- youryou know, pope. >> personal opinion i think you're a catholic we gave with it to you. >> i do like catholicism. remember this, with remember when donald trump said this about paying tax. here's a quote. i fight like hell to pay as little as possible for two reasons, i'm businessman other is that i hate the way our government spends our taxes. got it, now this, national review reports that trump receives a 163 million dollar tax break on the trump tower which is in fifth avenue new york city. national review reporter jillian melcher r here. luxury building yes it is and he gets a tax break of what 167 million. >> 163.775 million dollars. and this at a time where new

yorkers are paying some of the highest corporate tax rates in the world. highest personal taxes. yep. >> what exactly is this 163 million dollar tax break? is it a tax deduction or o what? >> it is i-kit program technically a tax abatement didn't mean he has to pay that much in tax and new york city want it is. >> it is reduced by 163 million dollars. >> precisely. >> one building. >> precisely. >> that is tough to sell when the gets news of that. >> tougher to sell given that he boast about having it $10 billion, and he talks about how the gucci store in the basement is more than mitt romney's entire net worth a quote from last month. >> that is not a negative for hem but he'll say is it straight and won't try to hide it but say it straight. >> he hasn't but i think the point here is twofold . first of all it is desperate treatment. trump is getting something that average new york reverse getting

taxes trump gets a break. second point being that trump has admitted that he donates heavily to politics but all levels and then picking up hiss own and calling politicians for favors. i would be curious if this was one of those instances because if so he's running as anti-establishment this suggest he's part of the political establishment. >> that is true he comes on as an anti-establishment guy new guy on the block not part of that lot over there. yet you say he makes a lot of phone calls giving big donations to all a kiengdz of politicianings. >> absolutely from a federal level down to local development boards that handle these lands deals. >> are you sure that that is not just a part of the business establishment and that's what the business establishment does? >> i think it is -- >> political establishment. but i think it is paparazzi clear this is also part of the political establishment during the debate he's saying give this money therefore i get this in return. that's a pretty shameless emission of corruption if you ask me. >> he comes out and says it. >> this is a selling point. spend an hour or two defending it i don't really do that.

>> speakings as a salesmen this is point in his favor but not to his merit as a politician. >> good last line. good outcue thank you. and donald trump shoulding huge campaign rally tonight in mobile, alabama. literally tens of thousands of people will attend or certainly expected to attend. a look at who is going to be there lou dobbs covering it live from alabama starting at 7 p.m. eastern right here fox business lou dobbs tonight. a 66-year-old man and ten pound dog fight off a full grown bear. we're going to talk to him, the guy that is, after this. >> he was right on top of me. face right there that is when he grabbed me here by the side of the face, you know, and, i mean, i was fighting doing everything i could to try to get him off of me. ♪

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>> a treasure hunter is recovered four and a half million dollars worth of gold coins off the florida coast. 350 coins were found in all some of them were with royal coins made the for the king of spain in the early 1700ss. that's when a fleet of 11 ships traveling from cuba to spain were lost at sea during a hurricane. now, our next guest credits his

ten pound yorkshire terrier with helping to save his life. after he was attacked by a bear. larry joins us by telephone right now. larry very quickly what happened. you were minding your businesses and this bear comes to go after you, right? >> yes, i was going to use houst 4:00 in the morning. i backed out the back door, maybe made four, five steps before i saw this small, black bear standing there in front of me. and then i lived up here in the mountains for many years in which you can yell at them. get out of here, get out of here, so i did and he -- she started walking towards me. >> got you. >> and there was a bug cart right there so i picked up flower pot and hit her in the head with the flower to the you know like slapping her on the side of the head, and all of the time yelling get out of here. get out of here. >> let me interrupt you because

you live -- this is yosemite national park area correct? >> outside much yosemite. fighting this black bear, and your ten pound yorkshire terrier saved you? >> i fell -- the bear mounted me and was ripping and tearing at my face andybdom,nd nall got th be off me putng feet on it and kicking back. when it fell back, we locked eyes again and i u saw it was coming again and then my little dog ran around the back of it trying to nip the bear. an the bear swiped at my dog that gave me enough time to get on my feet an back in my house. >> quickly what happened to your dog? >> he went in before me. so fast that when the bear swiped at him that dog ran in the house and i ran in right after him. >> we're glad that you and that

little dog that saved your life are all doing welg. thank you for joining us on the fox business network. >> thank you. a full two hours of varney and company in the books here's the highlights of more varney two minutes away. >> if i press this little button here -- immediately outside. b the prt, t itoil pilrrat o pcers house torming morning. >> probably in 48 hours. this is his dash. [laughter] donald trump more than it is carly fiorina or bernie sanders on the other side. people are fed up with conventional politicians and fed up with washington and this is how they express it. (vo) me? i don't just wait for a moment. i watch for the perfect moment. the one nobody else sees. and when i find it- i go for it. (announcer) at scottrade, we share your passion for trading.

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stuart: excitement has returned to political deed the. we are over a year from the e

election that america is paying attention already. this is new and in my opinion of very good thing. political correctness has been allowed to clamp down on free speech. politicians tiptoed around every important issue because they didn't want to offend anybody. donald trump could care less, he wades right in, love him or hate him, it is free speech. after years of boredom real debate has made a come back. what is wrong with politics being entertaining? 30 million people tuned in to the debate, that is a record. we watched because it was interesting. who knew what from would say next? who know what questions fox centers would ask? politics became entertainment and we were glued. there is a shift in the kind of people running for the job as well and that has made a difference. on the left and admitted socialists. on the right number insurgent,

woman who ran a giant corporation and the billionaire who revels in his money. what a contrast with the oh so boring talking points crowd. this is really good for america. we can't get to grips with our problems if our leaders can speak freely and that long last free-speech has made an come back. it is exciting and entertaining. leave the voters are back in the game. back to politics in a moment but first look at this, market time. what is happening to your money? this is not good. this is the quote of the day down 230 points. that means we are down 600 points at the moment this week. the price of oil did hit a fresh 6.5 year low, at $40.13 a barrel was the low, $40.18 now, down

one dollar. how low is the stock market going to go? >> last week i said 2014 was an important line in the sand for the s&p, it broke below their enclosed below them yesterday. for all intents and purposes the textbook example of what market, looks like. also every bull market has a definitive beginning and end. what we're seeing now is more easy money from the fed with external events is a copy pattern in the market. stuart: we are going down from here. >> at this stage until the s&p closes, the path of least resistance is lower. stuart: how far down, i want you to make a forecast. they want a number on the dow jones industrial average. how far down?

>> the first psychologically important level would be at 10% protection, a pullback is considered an% from a high. correction is 10% to 19% and bear market is 20 or more. the russell 2,000 is 10% below its recent high of view months ago. it would be down 10% threshold, the media with a correction across-the-board from major indices. stuart: 15,000 for the dow industrials, you see that? >> unless if we start going back out there is no problem, you could get a 10% correction and we haven't had a 10% correction in three years because of easy money from the fed. finally we are seeing in europe a lot of their stock markets are falling in incorrect territory with the ecb or the european central bank printing money and which means you have the law of diminishing returns kicking in.

eventually the market will stop reacting so well the easy money from the fed and other central banks. stuart: we hear you, thank you for joining us. we are down 243 points, that is the low of the day, 246 points, low of the day 16743. presidential politics, his popularity undeniable. donald trump this headed to alabama for anything rally which will draw tens of thousands of supporters, so many that had to move it to a new venue. if football stadium. blake berman, what can we expect? >> i spoke to his campaign manager earlier this morning, he told me they have received over 40,000 rsvps for tonight's event in mobile, alabama. this had been moved to a football stadium. trump's campaign told me they

received 20,000 rsvps in a matter of hours. that is why they moved it to the new venue. it holds 40,000 people. quite the optics as it could be jam packed complete the full potential with trump right there in the middle. trump's campaign manager told me anyone who continues to dog from should do so. at their own peril. the media attention on from at this point will be not going away anytime soon. stuart: that is for sure. in this cycle the conventional wisdom has been totally wrong when it comes to donald trump so i wouldn't bet on it. >> i leave you with this. when donald trump announced we to months ago he was running for president some questioned whether he had paid people to be at that event. fast forward two months where we are tonight and he is going to have potentially 40,000 people showing up. quite a turn of events.

stuart: thank you, complete coverage tonight of the donald trump campaign in mobile, alabama. lou dobbs will be there live at 7:00 p.m. eastern time, 8:00 p.m. eastern time tonight, 7:00, that was tonight, 7:00 and a:00. 7:00 and 8:00, live coverage. donald trump made politics entertaining. i have not seen that before. >> i was one of those people who questioned him at my own peril. is his campaign manager threateningly? donald was on the air yesterday, took a couple fun jabs at me for not taking his campaign seriously. i will just say this, he has

made it fun. he is an amazing politician, a great branding expert. he agreed brand all the major republican candidates as wimps. jeb bush, scott walker, marco rubio, at least in the polls these guys are not strong enough encore conservative issues. the real question is does he break out of the 25% that he holds? negatives are so high it is hard to believe most of the typical rubio supporters will support him as opposed to another republican candidate. that is the problem. i will be a believer that he can win if his poll numbers in this crowded field start inching joy close to 30. then you got to say all right, this guy has got it. when the other candidates peter out which a few will, chris christie maybe and rand paul, when they peter out possibly, his message is resonating wider

but now we're seeing him stuck at this 20% level with huge very high negatives which means the other candidates probably won't do it. in terms of entertainment he is amazing, he charms the hell out of me. i have known him for years and love him as a businessman, he is the greatest marketing businessman i have ever met. i talked to marketing professionals, to read and the competition better than anybody. donald trump is brilliant at this. people say where is his policy papers, he is so good at this we are all idiots compared to him but the question is is he said, send panera and he seriously win? it gets beyond that. stuart: he brought people to politics, free-speech politics. >> when i start questioning him, jeb bush spoke about anchor babies yesterday.

he would never have gone there, never, he spoke negatively about the phenomenon of a woman being impregnated and mexico and coming to the united states. >> would he be a good president? stuart: answer the question. >> donald is a great businessman. stuart: charlie gasparino backs off. >> when you are a businessman -- listen. remember what he said yesterday? he runs a private company. if you wants to paint the ceiling he can do whatever you wants. when you run a public company were more like a president. when you become president you have to deal with other people. i don't know if donald is ready for that. >> doesn't know how to compromise. good business people are successful as he is, you old hard-line but you do compromise. stuart: a new low for the dow industrials, up 263 points, 1.5%, down 350 and change

yesterday, 265 dagen: as of right now all. the selling is continuing on wall street. moving on to the growing opposition to the iranian nuclear deal, i spoke to general jack keene about it earlier. rolled that the. >> iran inspecting themselves and the 1 research facility is absolutely reckless and irresponsible and it is going to increase the risk for the american people and our interest in the region. the reality is congress cannot sweep this under the table. "cavuto coast to coast" when you heard it clearly, there is rising risk to the american people from the iran nuclear deal. my next guest is one of the 340 rabbis is signed a letter in support of the nuclear deal. you are in favor of the deal. you signed that letter. can you give me briefly why are you in favor of this when so many others are vigorously opposed?

>> so many are also vigorously in favor. this is an issue which reasonable people can disagree because it is a hard issue. there is no such thing as a perfect agreement and there are plenty of things in disagreement that would give people pause but there are also in many ways i think that those who love israel should claim victory. stuart: what is good about it? >> we said we love is real and the prime minister netanyahu said the number one most important issue is retarding iran's nuclear capability and through the sanctions we are a position now to have the negotiated agreement. even under current sanctions agreement and the current sanctions regime, i am in a community rabbi, not a security professional but from what i heard under current sanctions, iran is three months from a uranium bomb and a year from a plutonium bomb. what we have under disagreement is that 15 year --

stuart: that assumes they will keep their word. the we can verify it. >> verify realistically is a serious possibility. it is not a hopeful thing. not keep hope alive and smile and let them inspect themselves. there is that very is serious inspection regime. the parts and matter is a serious question, i am not an expert but i want to point out when you have the tape from a general who i take to be an expert is important to say dozens of american generals and dozens of israeli security professionals including three former heads -- the former chief of military intelligence, two former chief of military intelligence have all said they feel that this is the right goal because it is israel's number one priority. if you can get number one priority that is important. stuart: forgive me, i hear you

and we're interested in what you say but i got to break away. another downside move in the stock market. i do thank you for being with us. look at this. we are down 312 points for the dow industrial average, 312. this is a sudden move down, literally five minute ago we were down 200 and now we are 318. i am looking at various stocks and i see some of the big names like apple really moving sharply down. i am looking at apple down 450. >> you will see apple down because of their exposure. you hate talking about shine above 15% of their revenue is china and they said publicly their growth is in china and so if the growth is in china and the chinese economy is at best flat there won't be growth for revenue. stuart: 300 points down. to we will take a quick break and be back in a moment.

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stuart: look at this. this is all markets of. close to 300 points. some of the big-name stocks which led the rally earlier this year are the ones getting hit most. i am talking about the dow jones 30, all of them in a red, considerably sell and the beginning, biggest of big-name stocks which are coming down sharply. apple for example. apple is down 3.5%. netflix had been a huge winner, dwayne down yesterday, down again today, looking at 106 on netflix. amazon had a huge run up, down 8 today at 507. facebook a week ago was getting close to $100 a share commonalities at 87, down 3.5%.

>> isn't the, the dow was down year-to-date 6.2% so almost 10% is the correction. the s&p is down 2.7, 3% roughly. not mere correction territory but it broke through the level of 2040 and is down in 2001. stuart: o will hit a new lil hi3 a barrel. a quick report on drones. they are everywhere. government agencies and law enforcement scrambling to develop high-tech countered brown's system, something that can't excitement next guest, the ceo and founder of acts is drones. robert morrison. welcome to the program. a stock-market sell-off going

on. this is what you are selling for christmas. >> it is 3 centimeters by 3 centimeters. technically the new world's smallest what copter. all the flight mechanics of the larger $2,000 drones shrunken down for $35 to fly around in your living room. extraordinary we could get them this small. stuart: it is a toy. >> essentially. without a camera and it is a ploy, learning device for people interested in moving up to more expensive quad copters. they learn to fly for $35 instead of buying at $2,000 drone and crashing into a 3. stuart: d . stuart: didtree . stuart: did. stuart: did you say $35?

>> two aaa batteries in the back, lithium ion battery, rechargeable, flies 5 to 7 minutes depending on conditions, 15 to 20 minute recharge. stuart: you got a product and a half. you will do well this holiday season. sorry it was so short but the audience gets the gist of what you got on offer and i might get. good luck. back to reality. there was a sudden loss. i don't know what caused this but there was a rush of the sudden loss in the past 30 minutes. the dow was down 200, then it was down 300. a lot of jittery nests in the market right now and we are down 273 as we speak. it is the big name tech stocks which had run up so much earlier this year which are now running so far down. 29 of the 30 dow stocks, interesting signal and down and

they are in the red. it is a broad based sell-off. stocks on your screen come from all kinds of industry groups. that is the nature of the dow industrials weather is technology, fast-food, oil companies, all on that list and 29 of them are in the red. next case, look at the price of oil, $40.30 one cents right now. got to go, got to pay the bills, show you some commercials and be back in a moment. you total your brand new car. nobody's hurt,but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do, drive three-quarters of a car? now if you had liberty mutual new car replacement, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement,

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stuart: this is a ugly number indeed down 301 points. we were down 358 yesterday. two day loss 36 points as we speak. however, there are a couple of winners and we're looking for the mm-hmm pledge adam found the. >> there are some winners, look at hewlett-packard, better than people expected. sales force better than expected earnings, trading up today. trans ocean up today, they increase their quarterly dividend and one more to look at because there are not many out

there right now, altrea group is up today. stuart: as we speak the dow is down 301 points. why is it down so much? i think it is spillover from china's problems and we in america don't have a plan to deal with our own slowing economy. down 300 on the dow cult oil flirting with $39 a, oil flirting with $39 a barrel, apple is down and we will be back with more on this sell-off. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit?

can a business have a soul? can a business be...alive?

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stuart: in the last two days as of now we are down 600 points. that is the sell-off. whale has not broken down to $39 a barrel but we are close, $40.26 a barrel. big tech names, all of them down sharply. charles payne is here. what is your headline? charles: confusion, fear, frustration going to this melting cauldron and you get 600 points in two days. 10% correction we have been looking for for six years.

it is almost here but it does point to a lot of things and it is not one thing but a combination of things. confusion. what is going on in china. we always right shine off. we care when it is bad news. what is the fed doing? we don't know what they are going to do. look at the political landscape. people remember the crashes. is this the next one? and frustration, absolute frustration. those things because other big, snowball. stuart: you wouldn't tell people to sell. charles: at this point after you have good names, probably oversold. i did a lot of selling last week. profits with netflix and amazon you can sense this is coming and now focus on what to buy. an interesting thing coming into this week we talk about hyperreality, people are eating

healthier and we stop smoking, foods and a three year low, the cigarette company at all time high. the main stock we got to watch is this one. stuart: that has come down. that is the linchpin. let's be realistic about this. $122 stock. this court cutting, wind you see names like disney getting hammered, a lot of people were up big. special report for the viewers, i am going to have ten days they should think about buying, at today, a beautiful addition. stuart: look at it. stuart: good advice. we like that.

charles has a big show tonight. market sell-off separating fear from reality. got to watch that. making the money with charles payne. politics, governor mike huckabee addressing that outrage from the left over the term anchor babies. roll that tape. >> interesting hillary clinton, they are called babies, had you seen the planned parenthood videos? they are called these. for all these leftists having a big problem talking about 8 per babies i would love them to have a real discussion on all babies. stuart: you are with the gop. the republicans are breaking into the idea of breaking down political correctness. it is a winning thing for them. >> leave it to the republicans to be the ones to break down political correctness. one thing mike huckabee said that was brilliant was we

wouldn't even be dealing with this issue, secure the borders. it is ironic hillary cares about saying right thing with painter babies versus babies, why doesn't she look at doing something bigger than that, depending these babies that are on board and with planned parenthood selling body parts like they are trading stocks and bonds. stuart: the rest of the republicans joined donald trump in cutting straight at it, i will call them in for babies, get on with it? mike huckabee said the right thing and donald trump is breaking down political correctness but what about the rest, coming up with these talking points, they are boring. >> you called it spot on. it is boring. mike huckabee said it, trump said it. let's get to it. the rest of these candidates need to stop the can't talking

points and say what is off the cuff because obviously it is resonating and the owners like it. americans like the fact that it is off the cuff, great candidates, and the need to find their voice and get the narrative and get it out there. stuart: what are you going to do with trump? don't know where you stand within party but he is creating quite a problem for most republicans. is he not? >> it has become the trump show and everybody knows he is overshadowing it. he is resonating with people. so many people are frustrated with not only politics but the government in general. they are sick of it and feel nothing is being done and a lot has to do with obama's executive orders. when congress can't act and nobody can do anything and it is the president's way or the highway people want real leadership and they are seeing that with donald trump. stuart: are you prepared to say

he will stick it out? go the whole distance here? lot of people thought he would fade and go away or form a third party. are you in the camp that says he is in this to stay? he is a winner? >> i've thought by now all that his star would have faded. when he was pressed on the issues, he gave a pretty good speech in new hampshire at a town hall and he does right on. he said some things that were really polarizing yet they were right on. i am watching donald trump, a lot of donors are watching donald trump and he is a self thunder but he has got so much current media and it is unbelievable. so many candidates need earned media, he is dominating earned media. stuart: thank you for joining us. i am cutting this short to get back to that stock market which is coming down. we are keeping it on screen

because we are down big time, 317 points as we speak. check google. there is a stock that has not been hit as badly as some others

human crazy. $2 trillion of treasurys and into government agencies on $5 trillion, we play the game as well as anyone else, we're stepping away from that game. jenna yellen's dilemma, she doesn't want to be seen as tail wagging the dog, wall street, part of this is a wall street hissy fit. if you don't keep rates where they are. and part of this is wall street. >> i don't want to wait till 6:00 p.m.. should i be looking at the russell 2,000 and small and mid cap stocks in the united states that are in north america bound for revenue as opposed to avalanche i know? charles: look at companies that have done extraordinarily well, reported amazing results, amazing guidance and you know will be around for a long time. disney is at the top of the list but surnames are oversold. i will put a list together of ten names, very blue chip

centric and more volatile but i think they will grow. >> you like the big names. stuart: we haven't had back-to-back losses of 300 points on the dow since november of 2008. that takes you into dangerous territory. the fall of 2008 was crash time. before we should say percentagewise it was a little different. stuart: totally different, you are right. facebook at 86, apple at 108. the key for you used disney. can we get disney up? charles: disney is key in the sense that that was the name that broke them. it was downgraded by bernstein, it was off $6. disney had taken a big hit on earnings, given little guidance and people are guessing, assuming their heyday is over. stuart: could you say it is stabilized?

charles: we are so emotionally driven, i got into a twitter argument with someone about buying today rather than waiting next week. they called me a short-term person. when you drop 300 points it is about risk-management, take an extra day or two or week to make sure the coast is clear. stuart: you are coming up in 20 minutes a entering the 12:00 noon show. we will take a break, back with more market stuff after this. th- and flexibility. it's where great ideas and vital data are stored. with centurylink you get advanced technology solutions from a trusted it partner. including cloud and hosting services - all backed by an industry leading broadband network and people committed to helping you grow your business. you get a company that's more than just the sum of it's parts. centurylink. your link to what's next.

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nicole: i am nicole petallides, dow jones industrial average down 320 points as global sell-off continues abroad and right here at home. it is down 1.9%, down 2.2% at the moment, the fear gauge up 25%, yesterday the very same thing, bohai highest level of 2015, concerns about the global growth stories particularly in china and oil front and center moving below $40.11 holding the $40 mark as energy losers come under pressure, and she's like exxon, chevron, conoco phillips hitting 52 week lows. earnings season underway, fresh market down 20%, fear under pressure, sales force doing better. get your day started on fox business.

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to help prevent infections from 13 strains of the bacteria that cause pneumococcal pneumonia. you should not receive prevnar 13 ® if you've had a severe allergic reaction to the vaccine or its ingredients if you have a weakened immune system, you may have a lower response to the vaccine. common side effects were pain, redness, or swelling at the injection site. limited arm movement, fatigue, head ache muscle or joint pain, less appetite, chills, or rash. even if you've already been vaccinated with another pneumonia vaccine, prevnar 13® may help provide additional protection. get this one done. ask your healthcare professional about prevnar 13® today. stuart: if you are watching this program, we are off significantly. i have a couple stocks, look at, we have amazon below 500 at 499, starbucks down 250 at 53. microsoft, i own it, 44, down $1. apple at 108, netflix 104.

all of those stocks are big names and we cover every them every single day. all of them down big. >> target yesterday when the sell-off was in swing and starting target was positive most of the data got pulled down in the last 30 minutes trading but better than expected earnings, back-to-school shopping season people have more money because of lower gas, take a look at walmart. stuart: down 2%, look at walmart. neil: 3 a new 52 week low for walmart. they are back above that. stuart: people are checking some much out on the retailers. adam: if this continued for a couple weeks but today what charles was saying, there's a lot of panic or a lot of fear. stuart: two things are going up

in price. no. one gold. i have gold up $5 at $1,158 per ounce. everybody is rushing for the exits but some are going all little bit into a bolt of $5. the price of treasury bonds going up and that is pushing yields down. the all important yield on the ten year treasury is 2.05%. adam: also talking about opportunity, some small-cap stocks, they are not losing as large a percentage as big names. and atcorp. is up tremendously. this might be a buying opportunity. stuart: we are down 290. i can tell you 29 of the 30 dow

stocks are in the red. there is only one winner and that would be 3m. they're up not very much. i am squinting. they are up $0.61. trying to find the reason for that. the rest of the mark down. 90, apple, boeing, microsoft. read the list of the biggest, most important companies in the united states and all of a large down today. google is down $660 a share as we speak. obviously we cover the commodity markets. fit bit down 5%. not sure when the news is. a competitor has come down with it. >> positive results, one of their medical units with antibiotic purification system. might be a health care play. stuart: if that is what it

takes, antibiotic purification system, show me john deer. i drive one of the tractors and i know it is down. their sales are down, profits are down, forecast is down, that is a huge drop. they are down 6%. that will be $6.84. show me under armor. this is us stock we have been covering for a long time because they sponsor big-name athletes doing very well. jordan spieth for example at. underarm was way above $100 a share a week ago. now we are at 91, down 5.5% as we speak. halliburton connected to the energy industry, and they are weighed down because oil is down at low $40 a barrel level. we want to see if it will go to 39, hasn't yet but that is why halliburton is down 6%, show me the price of oil. how close are we? this is it. this is the brand new 6 year

low, $40.11 a barrel. will that number. we got to take a break but holds that because if that breaks to 39 you may see another leg down for the stock market. not predicting that that is an important number. adam: they are positive, break for the. fund managers are betting the slump in oil won't last and you see diamond off shore up today. stuart: we won't take a break. this is more important, dow jones average down 280, crude, i shouldn't have interrupted. put that oil number, that is a very important number, $40.08 a barrel. it is quite possible, oil trade is very rapidly. contracts move at breakneck speed, $40.07. will it touch 40? will it hit $39.99? very important signal for the stock market and other markets. adam: i want to continue the discussion of diamond offshore. people talk about opportunities

you don't have to pull the ticker off but that stock is down year-to-date 40% yet it is a up today because we are enjoying cheaper oil prices. we might enjoy them for a year but what the high power is given a take and come 2017-18 there is still demand for oil even with the glut of oil on the market. stuart: the oil companies are so far beaten down, someone might come along and say suppose there is an incident in the middle east for example in the oil -- adam: exxon mobile, 52 week low for them. stuart: you have some people buying those oil companies. if they want to hold the long term they will buy them on what is clearly a cheap -- adam: oil is not going anywhere. body will introduce their electric suv, good luck.

stuart: we are watching it. it is like a horse race. will it get to $39.99? i mean, if your money is not at stake. adam: all our money is at stake. my 401(k) does this and that in 2008, the question is -- stuart: you are not selling. neither am i. adam: we are not even in correction yet. stuart: i am not going to jump in and sell on a panic basis. adam: that is when you buy. stuart: member a bold -- adam: no one knows the answer is, what the fed is going to do in september, what does china mean to us, he loves the big-name stocks but come back to apple but look at caterpillar, those relying on the growth of countries like china, there's not a growth. stuart: we may have put of flaw

on the oil market just briefly. 40.04 was the low. we came on the air and put that on the screen of this time. look at it go. maybe we bounced this thing. maybe we got it hit $40 a $0.04 a barrel and we put it on the screen. adam: demand continues to grow. stuart: on above phone with us, a guy we go to frequently on the oil market. are we going to break below $40 a barrel today? >> looks like it. the market made a couple shots at it already and i think we will be there. probably less than an hour. stuart: a lot of people would not understand what is going on with oil. almost every minute they're trading. you might get this little bounce

from 40.04 to 40.15 but then you might get that leg down so you think $39 will be the price at some point today? >> i sure do. looks like a market wants to see $39.99 and if you point how you get -- some people do a little short-covering but the overwhelming bearish sentiment in the market is continuing to drive us down. products are dragging the market down as well. stuart: am i going too far when i say oil is a very good indicator for stocks and if we go to 39 and change we take another leg down for stocks? is that a mix of two markets? >> it is connected but a lot of times the stock market is impacting about oil market because if on a broad basis the stock market is declining it

indicates a slowing economy worldwide, you will drag oil with it. stuart: there is a bright side to the oil market. if we have $40 a barrel oil presumably we will get closer to $2 a gallon gasoline. >> absolutely. as the market stands today no doubt in my mind we will be below $2 a gallon by the end of the year. that impacted some markets, we see $1.65 on the street. stuart: on the other hand $40 a barrel oil means a lot of guys in the oil patch in america will be losing their jobs because you can't make much money at $40 a barrel. that is a negative for the economy. >> that is true. especially in texas and oklahoma we are seeing widespread layoffs as well as worldwide about 150 to 175,000 jobs have been affected. there is no doubt. when commodity prices get so low over all that is bad for the

world economy because it is not only oil but iron ore, cocoa, copper, you are impacting the economies around the world if we have higher commodity prices it does create jobs. stuart: thanks for joining us on such short notice. come on in scott shellady joining us as he often does from the floor in chicago. is this the day? $39 at some point today? >> we are getting close. i thought it would be faster but we are $0.12 away. absolutely could be the day. it has to slow down at some point but as your previous guest said this is over all bad for the economy and we have proven the consumer doesn't take the extra savings and put it back in retail sales so i don't know what will happen. commodities are leading the way and they're telling us there is more to come. stuart: this is negative for the economy because jobs are lost in the oil factory? >> i think so.

20% of jobs from 2008 in the recovery came from the energy sector. those people will get calls here because when we overproduce we have to do something about it and it is natural to shrink manufacturing not just oil but copper, iron ore and all those things that can't be good for the economy. we have a double negative and when chao liu and -- china values again that will be more expensive worldwide. stuart: scott shellady, thank you for coming in on such short notice which we do appreciate it. oil at 40.12 and the dow down $2.76. more varney after this. 800,000 hours of supercomputing time, 3 million lines of code, 40,000 sets of eyes, or a million sleepless nights. whether it's building the world's most advanced satellite, the space station, or the next leap in unmanned systems. at boeing, one thing never changes. our passion to make it real. ♪

. stuart: there are two important numbers. we've got them for you. that number on the screen, $40.17. watch that thing, if it hits $39, you could see another leg down in this number. dow jones industrial average. currently down 252. if we close down 300 today, we

close down 300 yesterday, it will be the first time since november of 08, back to back 300-point losses for the dow. i will leave you with oil at $40.13. charles payne in for neil cavuto today. charles it's yours. charles: thank you very much, stuart. and yes, we have breaking news, we have a broad sell-off on the corner of wall street and broad street. can you believe we're down below 17,000. we've been hearing this would happen and sooner or later it had to. when it does, it is very, very unnerving. down more than a thousand points for the year. investors -- it's a combination of thing, people are nervous, panicking, people are frustrated. i have a fair number of people who reached out on twitter saying hey, should we be buying today? a confluence of things out there. it's gotten everyone's attention. as stuart pointedut