. stuart: . liz: welcome back. looking at the dow right now, triple-digits down. over to stuart varney. stuart: oh, no, not again. it may be the dog days of summer, but high anxiety is back. if the market opened right now the dow would be down triple digits. in the news background, china stopped supporting its market and prosecutors market reporters for spreading rumors. we may impose sanctions for china's cyber attack. is china's leadership losing its grip? that would be bad for everybody. two polls, on the left, bernie sanders is surging closer to hillary. and on the right, ben carson, people going towards nonpoliticians. i paid $1.99 in new jersey this

weekend. told you. why not give a shout out to chicago? the cubs still play baseball and they haven't won a world series since 1908, watch what their pitcher did last night. yes, we got there. a no-hitter in chicago, the cubs, who knew? ♪ all right. let's start with dow futures. pointing toward the loss of about 160 points and the opening bell. after the big central bankers powwow in jackson hole. do we have any clarity on whether rates go up in september? do we? no. we have a definite maybe on that question. that's not helping stocks today. from china, news that they have stopped propping up their market, having spent 200 billion dollars trying, and they started prosecuting market reporters. more on that in a moment. and let me give you some good--

♪ come on, the market's going to be down, but gas is down, too, and that's worthy of trumpets. gas 2.47 national average down overnight and down more than a dime on the national average. several forecasters on this program say it will keep going down until christmas. oil surge 44 a barrel and $45 now it's back at 44. ashley: down a buck. stuart: i'm not going to call that flat, but that's kind of a new high. look who is here. it's not raining in seattle, his new home, but keith fitz-gerald is with us. give me the capsule on this, the china news, the fed waffling away? what's going on, why down? >> well, you've got two things-- well, three things, profit taking off last week's run, the fed, which is uncertainty, and then you've got china. between those three things

you've got the absolute worst possible combination for traders. they don't know what's happening next, they're pulling it back, they don't want to risk coming into the table on this week. >> we're down 160 at the open. you wouldn't want to forecast where we close today, would you? >> i've got to see about the first hour of trading before i look at that number, but you bet i would. stuart: keith, would you stay there? we'll get back to you in a second. i'm going to stay on the china news. authorities there detained 19 1987-- 197 people, cracking down and journalists, too. let me just read you the charge, as spelled out on national tv in beijing. this journal irs who was in the dock, he wrote a vague report based on here say and without due verification, they got him.

>> this is a familiar pattern. the chinese leadership propped up the stock market and encouraged people to speculate in this market and now, what's going on? they've learned they can't prop up these prices because they're not based on the real economy, not based on-- >> and they crack down on anybody who would say what's going on? >> they crack down on a lot of people shall the hall mark of this regime. china has benefitted from a big federal reserve global tailwind. they had a lot of investment, a lot of hubris and put a lot into the infrastructure, that's mal investment. with that coming out, people say this isn't a productive economy, they didn't reform so this is normal. the chinese government's reaction is normal, too. stuart: it may be normal, but it's worried at that they're actually losing control there, that's a huge problem. >> look, people in china don't get their news from state run media they're getting news from social media and other sources.

this is a gher tur, a public gesture. this administration will do anything, anything, to stay in pow power. ashley: it's a smoke screen, there's a big military parade and the last thing they wanted was their markets to be in turmoil and this is it. stuart: and it's 3%. the white house is developing sanctions against china over that economic spying, the gate crashing of our computer systems. have you got any news on this one? >> i don't. the china arrests with regard to the security breach. stuart: yeah. ashley: i don't, stuart. stuart: we just know that we, america are considering sanctions. ashley: absolutely. stuart: do we know what kind of sanctions they are? >> probably trade and tariff. >> we haven't punished china for the amount of hacking that

they've done. stuart: we've got leverage over china, do we wish to leverage it against china in the middle of turmoil. start a trade war? >> no, you punish the people doing the hacking and make it very painful for them and stop the sons and daughters of the chinese who want to come and study at our universities and punish them, too. stuart: harvard wouldn't like that. and socialist bernie sanders is gaining on hillary. and joe biden coming with 14%. joining us from nashville, former reagan economic advisor art laffer. are you surprised to see a socialist almost the front runner for democrats? >> i wouldn't say that bernie sanders is gaining on hillary. i think that hillary is losing to bernie sanders. i don't know how it's going to

come out. it's crazy. stuart: on the other side, g.o.p. side. ben carson gaining ground on trump. trump at 23%. carson 18. cruz, walker at 8. now, it's nonpoliticians who are leading the charge for the republicans at the moment. do you think that a non-politician, specifically a businessman, do you think a businessman can be the president of the united states successfully? >> yes. and i also think that ben carson can. i know ben carson quite well and he's an amazing person. there's no reason why he couldn't be a good president of the united states as well. he's phenomenal and i think the voters there are reflecting very wisely on the choices. stuart: you know, a business guy says do this or you're fired. [laughter] >> no, please. stuart: and a business guy in the white house cannot say to congress, pass this, do this now or you're fired. you can't say that, can you? >> wouldn't that be great? but the business guy can say

this to his department, his department heads and agencies, all of this and he can run it like a business and you know, what you know from donald trump he's been very successful in business and obviously, when you're very successful in business, you know how to negotiate, you know how to do deals and when to hold firm and not to hold firm. and those are skills that a president needs not only negotiating with countries and you know what parts of your bill to give up and what parts you really want to keep it. when i look at donald trump's successes over time. he's been very, very successful. he espouses a lot of things i don't believe in right now. who knows what he'll be like in 14 months. ben carson is just the same way, he's phenomenal and he espouses several things i wouldn wouldn't, but he does. stuart: you were ronald reagan's advisor and my producer said in my ear, hey, if an actor can become president, why can't a businessman. >> he was a governor before,

come on. >> you know, pat brown, the previous one, said, you know, called him an actor, clown, an empty suit, amiable dunce, and our response was why not an actor we've had a clown for eight years. you look how badly some politicians have run the country, from w through obama. how worse could it be? it can't be and i think that the republicans are a pretty stellar group. stuart: we here you, see you later. >> thank you. bye now, everybody. stuart: listen to this one, uber, hiring hackers to work on a driverless car. lauren has the story first thing this monday morning in case you missed it. >> you remember those engineers, they recently hacked into a jeep cherokee successfully and caused it to stop on a highway. and their expertise might help

uber devise against hacking. and netflix is about to release key movies like hunger games, wolf of wall street and netflix wants to focus on its own original contents and movies instead. and elon musk is worried, and sending out this message, robots making the tesla electric car. and he sent out a message and under that he basically said, you worry why? i'm worried about the robot-clips. what musk fears, they're able to turn against humanity. stuart: yeah, yeah, master of promotion, a tweet? >> put out one thing and up go the headlines. >> we follow key people and they make headlines and tout their own products. stuart: if you want more of

this, 5:00 in the morning, lauren and sandra and nicole, 5 a.m. eastern time. i know it's early, but it's a great show. now this, got to show you video today. who do you think that is? he's got a shirt on this time. that's vladimir putin and he's released images of him working out with his prime minister medvedev at his summer home in sochi. and medvedev doesn't look too much, but he was told to do it. >> that's good stuff. [laughter] >> three big donors abandoned jeb bush. is donald trump killing the bush campaign. and mt. mckinley renaming denali, president obama making the change as he visits alaska.

we'll deal with it all.

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e. stuart: if the market opened now, we would be down 150 points on the dow. it's nothing like last monday, with are at the same time we were-- what was it, 300, 400? >> 0 being, this monday morning, we're down 146. it's nail biting time. we're going down. it's not quite the same as last monday. we have president obama headed to alaska today. he meets nations around the arctic circle. the president's renaming it, the highest peek in the land and call it denali. people from ohio say it's presidential overreach. mckinley was in ohio. and hammering bush. >> what jeb bush said was a

disgrace. >> jeb bush, i used to think he was like the guy you had to beat, but he's like down, he's going down fast. >> jeb bush doesn't have an include. >> didn't have a clue. >> and jeb crowd down the street, they're sleeping now. stuart: he beat him up pretty bad. joining us from liz harrington, bush is fading, is that the result of trumps attack or problems with the candidate bush himself? >> i don't think it's as a result of trump's attacks. i think it's the candidate himself. i think throughout this campaign bush has not really been the candidate that everyone thought he would be this, you know, kind of the adult in the room, this smart guy. he really hasn't. he's made a ton of gaffes. at least when trump talks, he intentionally says what he wants to say. jeb bush keeps stepping in it

and these are sound bites that will stay with him. stuart: it's by comparison, too, the way that jeb bush comes across versus the way that donald trump comes across. a lot of people want more the dramatic direct approach of donald trump. how about scott walker, he's faded pretty badly, too. how do you account for that, trump's attacks? >> i don't think it's trump's attacks necessarily, it's just, he is offering this kind of more attractive thing that he's not a politician, right? so when you see these guys that are very normal politicians and in jeb bush's case, he's rusty. he hasn't been in the national spotlight for a while and it shows. walker on the other hand, he's new to the national scene and successful in wisconsin, but he's trying to navigate how to work with the media and tried to, you know, take positions that don't make him look weak

and then set himself apart and trump is taking the support away. so, really, you're saying that dynamic there. >> i've got 20 seconds, why has ben carson surged in this iowa poll? >> because he's a grass roots favorite. he's not a politician, he is an alternative to trump for people in iowa and they like him. he seems like a normal person that, you know, believes what people in iowa agree with. >> all right. liz. a lot of movement on the left and the right over this past weekend. policies are entertaining and fascinating. i love it. outrage in new jersey, an elementary school teacher gets to keep his $90,000 a year job despite showing up late for work 111 times in the school year. and a new tv gadget in the next couple of weeks, is this a new platform for apple? what's it going to do with the stock? i'll tell you in a couple of

minutes. you'll see the market go down. ...

>> okay. if you were late to your job 111 times in two years, would you still be employed? >> no. stuart: an elementary school teacher in new jersey is. ashley: 111 times, 46 times the past school year and the school

district said this is ridiculous and wanted to fire him. they went to an arbitrator and the arbitrator said you've got a good case we'll give him unpaid suspension and his excuse, i have a bad habit of eating breakfast in the morning and lose track of time and chris christie tweeted out, do you think i'm too tough on the teacher's union, this is what we're dealing with it. stuart: that's incredible, 111 times late after-- >> eating breakfast. stuart: eating breakfast. i live in new jersey, and my kids are out of the elementary school now. the opening bell is mere moments away. we are going to be looking at a loss of about 160 points. it is another high anxiety opening for the stock market this monday morning. watch it live and it will unfold right here. we, america, we're going to crack down on china for breaking into our computer systems and spying on us.

more details after the opening bell.

>> i would say it's not that persony sanders is gaining on hillary. i think that hillary is losing to bernie sanders. when that's the case, it's a collapse of the system in the democratic party and i don't know how it's going to come

out. >> if you want clarity, listen to art laffer the top of the hour. state officials tell fox news that today's batch of hillary clinton e-mails won't be released until this afternoon. close to 6,000 e-mails would be released and 30 e-mails will have more classified redactions as they put it. one more as the opening bell sounds off on the beginning of trading and down about 140, 150 points on the opening bell. keith fitz is with us in seattle and also, we've got ashley webster right here and scott shellady on the air there. nail it for me. what's the big reason why stocks are going to reopen. >> it's the fed. they're a few pony shy of a rodeo, out of control and traders know it and they're taking matters in their hands by stepping by. >> scott, you're a commodities guy, don't you care about

china? oil is still at $44 a barrel. >> first of all, we hear about the u.s., stewart and -- stuart and we're not looking good. we had record inventory builds and atlanta fed downgraded 1.4% third quarter gdp and i totally agree with the fact that any coach or any ceo has his underlings talk against what he with a nts to do as far as practice, they'd be fired. i can't stand the verbage and rhetoric from the fed when they're supposed to be in alignment. that's the theme on the show. there's no clarity, one says one thing and one says another, they don't come up with anything conclusive. we're in a state of limbo here. >> can you imagine the offensive coordinator for chip kelly, i don't want to do it as fast as they do. stuart: i thought you would refer to the cubs last night. i thought you would bring that in the open.

a few seconds left before that opening bell starts to ring and we start to trade. high anxiety time again this monday morning. not as bad as last monday when we were looking what, ashley, 9:35 we were down 1,000. stuart: trading has begun. they've opened 31, 39, 44. we're starting the week on the down side. keith, again, you've nailed it and you say this is waffling from the fed and a little bit of china and scott, you said that commodities, they're not reacting that much to the double in china, at least not so far. and we've got a 74 point drop for the dow. modest, i would say, compared to last week. >> and anything compared to last week, i think. stuart: now we're down 80, down 83. you're doing some hand holding there. >> just a little. our viewers want to know, yeah, yeah, yeah, it's okay. >> down 105 points, here we go.

>> okay. and keith, would you like to hazard a guess how we will close today? >> you know, this feel feels like about 175 to the down side to me, if we don't have any buying here in the next had a minutes. the orders held over the weekend are probably going to bleed off quickly in trading and that to me says everybody is going to get nervous absent a statement from the fed. ashley: we'll hear the drift of it, about the jobs report on friday and there will be all sorts of speculation as to what number, what that number will do when we get the jobs report to the fed, thinking if it's a lot worse than we think, maybe the rate hike gets pushed back. >> can we see the stocks which are trading and we constantly follow on this program. they let the market up and some were leading the market down. start with netflix, where are we now? >> we're down a buck, oh, that's 1% down at 116. move on to amazon. i trust we're still above 500?

yes, we are. that stock basically dead flat this morning, how about facebook. that went from 72 to 90 in the space of a week. and it's opening up monday morning at 9-- >> down 28 cents, not much. google, 650-- that again, that's just dead flat and 91 cent loss on a $600 stock is dead flat. how about tesla? where are we there >> we're down a buck at 247. keith, come back in again. do you like any of those big name stocks at those prices? >> i like google and netflix. netflix are going to have original content and have a clear vision and a time where they're expanding global subscribers base. i like google because it's really, as i said before, five, six, seven businesses in that. i think we saw them form a holding company alphabet. and the value when they move

those apart. those are the two the investors will be rise to concentrate on recordless of price if you've got the right horizon. stuart: with three minutes into the trading session, it's knots stability by any means, we're down 90 or 100 points, but it's very, very different from this time last week when the dow was dropping, well, a thousand points as of 9:35. right now, down 94. take a look at apple. they're thinking about raising the price on apple tv and thinking about introducing this thing as well. that would be something. ashley, anything more on this? >> yeah, the original starting price may be up to 199. it's higher than the third generation and talking about that little device that goes onto your tv and allows you to download and stream anything you want. it's a significantly higher than the thing you get from microsoft chrome or roku or those devices. they're beating people want the device, but it's pricely if it's up to $200. stuart: it's not some kind of new platform for the company.

ashley: no, the fourth generation of this device. stuart: all of these big name stocks are moving in the same direction, that is pretty much dead flat. ashley: yes. stuart: after a huge week last week. it went down and came back up again and this monday morning, they're holding firm. again, i think we've got some stability here. 88 points for the dow industrials on this monday morning. not quite the high anxiety of last week. move onto china. authorities say cracking down on stock market rumor mongering. a journalist has been detailed. keith, you're our asia expert. the china authorities, can't fix the stock market they they're cracking down on their people who say bad things about the mark. what he is going on there? >> well, you know, this is straight out of the chinese play book and they try to manipulate the markets and hold on and beijing is clearly losing control. what they're doing is the same old thing, going after those who arguably could be disturbing the people's value or the people's market.

if you look at it, it's not anything they did to break this law or that law. for example, they're saying, hey, you disturb the common good, you rumor monger and let things go not in the people's interest and destroyed value. that's significant because the cultural attribute rather than a securities attribute that we would see here. they don't parade those people out either unless the charges are going to stick. so i suspect he's going to be found guilty, which is sad. if he is a journalist and doing his job, that doesn't bode well for market freedom that we would like to see. >> scott shellady, i'd want you to come into this. and china stops its massive buyback. and focus shift to punish market manipulators, what do you think of this. >> they set up a new part of the government, anti-cultural exchange commission and they're going after them. i don't think they can prop the market up. the market looked for it and

they shied away after a couple of times. they're going to kind of go around the ends of this thing and get people to talk bad about the market or short the market. they're coming after the people that aren't doing what they would think would be in the best interest of the common good. however, they're going to frown upon that and it's not very good. it shows us what they're dealing with because of the growth they've had over the last 20 years. 56 times, it's not a soft landing, we're going to hear it, it's going to come down with a thud. >> that's a big position there. the air is coming out rapidly and not much they can do about it. does that sum it up for you, scott? >> absolutely. okay. the white house, by the way, is developing sanctions against china because of economic spying and the crashing into our computer system. >> we are hacked by many countries around the world and china by far is the most active. they have indictments on five chinese nationals for hacking

into u.s. steel companies for one and the military. now they're looking at what kind of sanctions can they do that will have an impact to try and stop this. good luck. they're looking at freezing financial and property assets of those people that they have targeted who are doing the hacking. it's something that's very hard to track who it behind it. >> we're cracking down on china and is this a good time to be doing that. maybe starting a trade war a the a time like this? do you approve of this? [laughter]. stuart: well, hey, the world is upsidedown now, stuart. stuart: hold on a second, i'm sorry. i've got to interrupt you. tom brady is arriving at the federal courthouse and appealing his four-game suspension over deflated footballs. i guess the real question here, they're going into court again. will tom brady be the starting quarterback when the patriots start their season? answer yes, is that right,

ashley? >> what's that? >> he'll be the starting quarterback in the first game? >> probably, i think so. would he put up with a one-game suspension? probably to put it behind them. stuart: but suspending for the games is in the courts and could go on and on forever and forever. i think he plays. ashley: i do, too. stuart: scott shellady you come back in and you, too, keith. am i right? am i right? as far as your money is concerned, that brady will play? >> i think, you know, it's a good parallel, stuart. the fed and roger goodell are kind of in the same spot, backed into a corner and nothing they can do. stuart: very good segue tom brady on a financial show. go ahead, keith. >> i was going to say, i don't know that i can top that, but sends the wrong message because if you've got something doing something that's arguably going to throw the game, that's what the fed has done, i don't know.

stuart: before we leave the subject. scott, did you have anything to 0 say about the cubs no-hitter. or did you know about it? >> i knew about it this morning, i was in bed before that, but we're nervous about the august/september swoon watch the five game lead for the all-star spot slowly disappear. we can't get excited yesterday. we have to wait until end of the season. ashley: a true cubs fan after years and years of disappointment. >> waiting for disappointment. waiting for disappointment. >> i remember when they won the world series in '08. [laughter] >> 1908. all right, everybody, settle down. look at the share price of the oil refiner, phillips 66. warren buffett discloses he's got a stake in that refinery essentially, and warren buffett backing oil, if not gasoline. >> in the short-term, that might be okay, but stuart,

we've talked about this a lot. there are a lot of clouds on the horizon. number one, again, it's not just china. our economy is not firing on all cylinders and i think the gdp in the third quarter is going to show that. number two, when you bring china into it and if china does slow and they're going to. 30 to 40% of the world's gdp. that's not good either. we're in a rate depression and we could be going into a global recession and that's not good for commodity prices, especially oil ar see stuff like cold take off and that's not rallying. let's check the market, keith, go ahead. >> i would disagree, respectfully, scott. now is the time to go bargain hunting. you go to freeport mcmoran, i've red it lists today. that is exactly when you want to make a move, 30, 35 bucks a barrel, you're at historical lows and that's an opportunity to do some buying. stuart: we've got a second leg down in progress as we speak. first couple of minutes we were

down 100 and now ten minutes into the session, down 158, 160. taken a bit of a leg down. this is a household name, not a household name at all, but the country's biggest nuke plant operator. it's called exelon. nicole, the news and the stock, please? nicole: they're trying to make a deal with a company and they have a base in district of columbia and regulators said it minimizes pepco holdings and so they're not wanting this deal to happen. 6.8 billion dollar deal and regularrators are involved. two companies are teaming up and saying, it's in the best public interest. number one. i wanted to bring to your attention twitter, this is a household name, right? and it's had an up arrow up about 4%. the high of the day today was 28.15. suntrust actually put a buy rating on this one, stuart, from a neutral and say that the new moneyization efforts, the

ad partnership and a twitter audience platform all of those things that they're doing can lift revenue and that's why they're raising this one and twitter on a day with blue and red, twitter is the winner. >> why is keith fitz, as we call him, shaking his head on the news on twitter? tell us. >> we've seen this play book how many times before? they can't monetize it, it's a trolling venue and no control over the commerce base. a buy rating? is that an institution trying to unload? what are they trying to do here, if not leave somebody else with the bag. stuart: that's a pretty big condemnation from keith. >> trolls? >> that's what twitter is. stuart: you're right, i can't deny that. got it right again there, lad. watch out, google, uber is hiring two engineers to work on a driverless car.

keat, keith, i know you're a fan. can google make a move? >> no, they're hiring some clearly talented people, are they going to give google a run for their money? i don't think they have the size or gail or experience with big data, it's not happen. ashley: they're using the guys that hacked into the jeep cherokee and drove it up the road. >> the hacking, what is it going to do with your insurance company? that puts drivers at risk as far as i'm concerned. stuart: we're not at quite the low for the day. 13 minutes in off 153 points as we speak. and can we look at big name stocks that we follow all the time? i want to see if they're pretty much dead flat. first of all, dow loses, and dupont, exxon, visa, caterpillar all of them down in percentage terms, they are down indeed this morning.

down 150 on the dow industrials as we speak. netflix, where are we? i'm going to call that pretty much-- down 1%. 116 on netflix this morning. google, where are we? we're dead flat a few moments ago, i'm going to call it dead flat now, up 38 cents on a $660 stock. where are we with facebook? holding at 90, down just 55 cents. where are we with apple? news on the apple tv has come to us and apple not moving on that news whatsoever. down 82 cents, apple right there at 112 a share. amazon, down $2. so all of those very, very big names, and we follow them all the time, every day, they led the market higher. they led it down, led the comeback, all of them dead flat as we speak. and the dow industrials are now down 161 points. kirk is here and he's got news and information on the new features, on the new iphone that's going to be announced on

september the 9th. it's true, yes, it's the new 6, 6-s. >> we've got the 6 now and it's the s. chances are it's iphone 6-s and 6-s plus. what are the features? >> the process is faster and a different kind of chip set inside that deals a lot better with wireless technology. so, you're going to get a lot more speed through your phone, connecting up wirelessly and also, you will notice-- you know, it will use the battery better. about an hour extra time out of your existing iphone or the new iphone. stuart: that doesn't sound like a whole hill of beans to me. >> i'm not done, i'm not done. a 12 megapixel camera as well and for the first time 4 ktv capability video out of it. you can take 4 k video, ultra high def video. meaning could be the first real reason to then go look at your flat screen tv at home and say,

may make some sense on my next upgrade to make sure that that's a 4 k-tv because you're now going to be living a life where you can have this kind of high definition from your own phone. stuart: a 4-k tv is the highest definition of it all. >> true that. stuart: i've actually seen it. i'm sherry you have, too. i saw a soccer game on 4-k tv. >> what do you think? >> it took some getting used to, they looked like cartoon characters. it was so precise, it looked like-- scary sometimes if you see it, but this is where the world is going and inevitably where the world is going when it comes to display. and apple tv, we're not seeing a giant leap because this is not a giant secret. apple has been itching to get into the set top box, currently in the market, you can see it's relatively small so we're expecting a little bit of a

larger footprint from the new one expected to be announced and not when it will hit retail we're expecting an iphone and maybe an ipad refresh could hit somewhere around friday the 18th. stuart: that little box right there fitted next to my lovely flat screen tv set, it's wireless, i don't plug it into anything other than the tv. >> correct. stuart: at that point i can get netflix on my tv screen and hulu, all of that. ashley: is the new one going to have siri control? >> that's why it works, siri is going to be built into it and processor. and find that your phone and ipad look and act like the interface inside of apple tv. stuart: gee, that's fantastic. >> i don't know that this is a home run for apple yet, but i think when they get into display technology where they can own your living room, that's where you start betting that they captured us in that part of our house and life. >> is it possible that one of

these ungraded little boxes will sit next to my tv set and say, hey, tv, show me netflix now. >> yes. stuart: i can do that? >> i really do. i think you'll be able to ask for what you want. stuart: i can say show me netflix now. >> and bring the bloody mary. stuart: the six wives of henry the viii, it will do that? >> i believe it's there. stuart: why is the stock down? that's fantastic. >> we don't have much faith in siri from where she started, but she's getting better. and where you have voice control of apple products, it's taken a leap forward with a new version of software ios 9. >> i've been using it the last sit weeks, i'm impressed and i think they've got the best update to software. whether you buy any of the stuff or not. you already use an iphone or an ipad, it's the best update

that's for free coming of any products that apple has come out with. and that's later in september. stuart: if i can speak to a box, it happens on my tv. >> even if she doesn't speak back? >> especially. [laughter] >> where are we now? check the big board. now we're down 150 points. the chicago pmi, apparently it's a key number, came in with 54.4 for august, lower than expected, no serious i am fact on the market? >> it's not going to have a huge impact at all. stuart: we don't really care. we're down 151. can i call that stability? i've got to go back to this, tom brady, arriving at the courthouse in lower manhattan. will he start next year? we'll take you to the

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$9 a share. and the u.s. market opens and a shot of maria sharapova pulled out with a knee injury and she needs more time to recover. serena williams is playing today. she wants to be the first woman to complete the grand slam and the first to do that in steffi graf in 1988. big night for the chicago cubs and their pitcher. he pitched a no-hitter against the dodgers last night and look at this. >> and he's done it! he strikes out the side in the 9th inning and jake arrieta has thrown his first no-hitter of his career. >> it's a big deal, but-- >> it is, but the cubs, poor cubs. the arrieta is unbelievable. the dodgers have been no hit in

the last ten days. in a short period of time in 91 years, you know, look at it from that point of view. arrieta, an amazing performance. it's not a perfect game because there was an error by a chicago fielder in the bottom of the third inning. stuart: i know this, it's not a perfect game, it's a no-hitter. it's nothing compared to swanz swanzee manchester united. that's the lead story. ashley: i'm trying to get my head around it. stuart: and this one, too, patriots quarterback tom brady and roger goodell updating the judge on the negotiations in the suspension. adam shapiro is there. let' get straight at it. and brady will start the season for the patriots, you know this is going to happen, don't you? >> i would take that bet if you want to put $5 on it because i don't think he'll be there on

the 10th, but he will play before the first of the year, if the four game suspension is upheld. here is what's going on. first, we had, tom brady arrived about 20 minutes ago here in federal court, and followed by roger goodell. the judge has to decide a specific point of law, he doesn't have to decide whether brady did or didn't have to do what he's punished for. the legal issues boils whether the players association and brady's attorney that roger goodell overstepped his authority under the guidelines of the collective bargaining agreement or the contract with the union. the nfl says he's allowed to make mistakes or even when the facts have been an error, you still have to defer to the arbitrator. so that's what's going on. what's going to happen today, the judge is going to pointedly ask the lawyers make your best case right now. he's been asked to decide by the 4th. he will try to have a decision by the 4th if they don't

settle. he's trying to get both of these to settle, when a judge has to decide, nobody wins. both sides could appeal. so, yes, could be tied up in court. i'll put $5 with you that he won't start on the 10th. stuart: no bet. i don't know a lot about football and i know a lot about news and that ain't news. and fresh round of polls, hillary clinton still in the lead in iowa and socialist bernie sanders not far behind gaining a lot of ground. republican ben carson, neuro surgeon, also gaining ground on the republican side. trump though still front of the pack. president obama heading to alaska, pushing climate change in his agenda. did you know, we just started more off-shore drilling in the arctic circle. stay right there. second hour of "varney & company" two minutes away. can a business have a mind?

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>> top stories, hillary clinton losing ground to bernie sanders in iowa. and joe biden is right behind them both even though he's not declared. jeb bush three of his top fundraisers drop him and call that the trump effect, maybe. meanwhile, ben carson surges in the polls. authorities in china arresting hundreds over what officials are calling rumor mongering in china's stock market. one journalist forced to confess on state-wide television. the obama administration looking into sanctions for china for economic spying. hour two of "varney & company" starts now. ♪ >> this is the low of the day, thus far on monday morning. it's high anxiety time, but not quite the same as last monday. right now we're down 177. biggest losers within the dow 30. united tech, chevron, ge, and

exxon all down big again. here are the big tech names at that we cover every day. where are they right now. they would be apple, amazon, facebook, netflix and google all are in the red just. no big drops in those stocks at this point. look at the price of oil, we've dropped back to the $43 per barrel level. that's down a buck 50 right now. and down 3%, but remember, there was a huge run-up last week, 43 on oil. ♪ >> roll with the trumpets. we're playing them because, a, the national average for gas went to 2.47 and b, i made $1.99 in jersey on saturday morning. and several of the analysts on this program say we're going to keep going down and the national average all the way through christmas. and now this, the man charged with a fatal shooting of that houston sheriff's deputies scheduled to be arraigned today. the sheriff deputy darren

goforth shot several times as he filled his gas tank. authorities believe he was the target because he was wearing a uniform. in our next hour, milwaukee county sheriff david clark weighed in on the issue and he says it's a war on police and he wants to know who is responsible. 11:00 the sheriff clarke. >> and forcing some families to live in what is described as third world type conditions. more than 1,000 wells in a county dry, a farming county that brought in more money from farming than any other county in the nation and they have no water. ashley. ashley: no water, brought in 1.8 billion last year. the wells are running dry and the level in the aquifer underneath the ground is dropping and dropping, lack of snow melt from the sierra nevada, a lot of the water goes straight out into the ocean and protect the fish. the central valley of california is bone dry and we've got situations where

homes have no water and stockpiling bottles in their bedrooms and living rooms, don't have enough water to flush the toilets. >> this county brought in more agricultural revenue. >> absolutely. >> tolari, i think, and brought in 8 billion. >> 8.1 billion last year. a huge bread basket, if you like. stuart: if you've got essentially no water, does that mean no more $8. >> anything they have is going to the cattle that produces the cheese and milk. third world is being kind. stuart: dire straits for that county. ashley: yes. stuart: president obama headed to alaska today. he's urging aggressive action on climate change, even though he approved new off shore drilling in the arctic circle. heritage foundation, steve moore is here. what do you make of this presidential big push for climate change policy and

climate change progress, as he calls it, in the middle of a difficult economy. china has got its problems and the market has problems. what do you make for the push for climate change. >> with all due respects, you buried the lead. and he's trying to change the name of mt. mckinley. and this president partly because he was a republican, mckinley, wants to rename that great mountain. i've got to get that off my chest, stuart. stuart: you do. >> look, i think that here we have these stock markets in the last two weeks that has been so herky jerky and investors are worried and families are worried about what has happened to their retirement income and worried about what impact it's having on their jobs. what the president doing, he's going to alaska and worried about climate change. he's showing this is a religion, and this is one of the great failings as president. he's not making jobs, job number one.

he's more worried about the rise of the oceans and putting back americans back to work and alaskans, have had tough times. with the low oil prices he's hit the economy there. he could hues the jobs from drilling and taken millions of acres of land off of development. >> now, next week, i think, it is, or certainly next month. president gee arrives for a state visit in washington d.c. they could be discussing the weakness in china's economy and could be discussing currency manipulation. and my thought is they're going to discuss this, carbon emissions in 2030, and they're going to give china a free pass, what say you? >> well, look, whatever china says to president obama, oh, yes, we're going to reduce the carbon emissions, it's irrelevant because what china is doing in the real world, as we speak. you know what they're building,

coal burning fire plants. every time we close a coal plant they open two or three. india is doing the same, europe is doing the same. what we've essentially done with this radical climate change agenda, we've unilaterally disarmed the united states. states adversely affected by that are states like alaska. look at the finances on the jobs, it's the state that's hurting. stuart: i have to ask you a political question, were you surprised to see the socialist bernie sanders gaining so much ground in the iowa poll? only seven points behind hillary clinton at the moment. >> i am disturbed by it quite frankly because bernie sanders has some crazy economic ideas. i mean, he's talking about raising tax rates up to 60, 70, 80%, talking about giving away everything for free and basically cradle to grave free innings from the government, and that's a very radical agenda, and the fact that he is rising in the polls is an indication, stuart, how far to

the left the democratic party has moved. and i find it, you know, very disturbing, but i'll add this. the other thing this tells us, stuart, is that this e-mail scandal is not going away and even among democratic voters, stuart, they are very concerned about what this means both in terms of integrity and also her electability in 2016. >> this is a political question again, could hillary clinton be a candidate if she is indicted in any way for any charges? look, this is a possibility. could she stay in the race if she's indicted, can she? >> it's a great question and look, it's not a farout question because general petraeus was indicted for less of a threat to our national security than what hillary did. whether she could run as-- i don't think we've seen it, it's an unanswerable question. the question is whether she becomes so damaged politically

by an indictment that she simply can't run. the other problem that the democrats have, as you know, they're now looking, turning towards joe biden. fox polls are showing one thing americans do not want, stuart, right now, they do not want a third barack obama term. how does joe biden run away from barack obama's policies? he would be the embodiment of a third obama term and that's not what americans want. stuart: as always on a monday morning, thanks for being here. >> by the way, go cubs! i was up late watching that no-hitter, you've got to get into baseball, this is the season, stuart. stuart: soccer. all right, thank you, steve. can you put the poll back up the democrat poll in iowa, hillary clinton 37%, bernie sanders, 30, and joe biden not declared at 14. >> all the democrats lead donald trump. the quite breaking out in--

according to the quinnipiac poll. the real fight right now, it's a huge fight, it's the fact that they feel-- the democrats feel that the dnc charlie wasserman swartz, and martin o'malley, baltimore governor running, he feels the game is rigged. how can i have a limited number of democratic debates and not get the message out to who the candidates are. >> hillary lost a third of her support in may in the last three months and bernie sanders has been courting those voters that voted for barack obama the last time around. young, liberals, first time caucus goers, they love bernie sanders. stuart: she is lost a third of-- >> third of her support in iowa since may. >> she's still beating bernie sanders right now and joe biden by-- it's narrowing, but at this

time you really can't say the race is cemented in stone by in any of the polls, it can change on a dime right now easily. stuart: who would have thought that a socialist would come 7 points within the queen of democrat politics. this is not good news for jeb bush, losing donors white trump hammers away at him. watch this. >> bush will never have a clue. women under my administration will be taken care of, not like jeb bush. what he said was a disgrace. jeb bush, i keep using him, i used to think he was the guy that you had to beat, but he's like mired down, going down fast. jobe bush doesn't have a clue. jeb's crowd down the street, they're sleeping, they're sleeping now. stuart: relentless attacks on jeb bush. funny he uses the word sleep. i feel like jeb bush is

sleepwalking through this. he hasn't campaigned in ten years, but trump is eating his lunch. and in the latest iowa poll trump at 23%. ben carson, by the way, done well in surging higher up in second place at 18%. and ben carson was at 10% back in may and donald trump at 5% in may, there's been a lot of big moves and we've seen jeb bush fade. >> that quinnipiac poll who has 54%, he's not honest, it's donald trump. so his credibility issues are on the line just as hillary clinton's are in the quinnipiac poll. stuart: the dow jones industrials industrials are down 177, 16-4 is where the dow is now. nothing like last monday, but we are down. target serving alcohol? what? lauren simonetti has the story in case you missed it. >> selling and serving.

shopping under the influence, a real possibility. pa new target opening this october in chicago, it could be the company's first to not only sell, but to serve booze to shoppers. target has applied to two laboring liquor licenses, and it will reportedly be a smaller format target and also reportedly have a bar. well, parents, how much have you spent throwing birthday parties for your kids, $30,000? research out of the uk, price tag from birth to 21 is that much in u.s. dollars. half of parents spend $750 on kids parties each and every year. stuart: is that british kids? >> that we were looking at in the video? >> no, the study is about britain. >> it's a u.k. study. >> we are, too. send more here in the u.s. with the sweet 16, you nona serious story. sad story coming up out of

hollywood. wes craven, you know him the famous horror film director died at age 76 after a battle with brain cancer. he directed horror movies, "nightmare on elm street," "the hills have eyes", and "scream". stuart: don't forget weekday mornings at 5 a.m., nicole, sandra and lauren bring you the stories. good stuff. you'll get my take on the arrests in china. authorities are unhappy with rumor mongering, i'm going to call it what it is. a farmer is fined by building a pond on his own property. he's fighting back and will join us in a moment. >> i have been very clear i'm not going to pay their fines and not going to tear out my pond. it's all a threat at this

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>> check the big board, we're 16,490 is where we are, it's not a repeat of last monday thus far. these are the dow stocks, 29 in the red, one in the green. goldman sachs the only one that's up. twitter, a rebound of sorts. twitter has been recommended as a buy by suntrust and they're up 2 1/2%. the price of oil, huge gain last week, coming down nearly 3% now, $43 a barrel. where is the price of gold in all of the turmoil. not changed much. 11.28. tropical storm erika may have weakened, but could bring five inches of rain to florida. south florida though can use the rain and the water.

now this, a wyoming farmer built a stock pond with state approval on his own land. the epa threatened him with astronomical fines if he didn't remove it, even though the pond has shown benefits to the area and they have no say over the farmer. it's known to 16 million andy johnson, welcome back to the program. you're with us some months ago. you built a stock pond and you got state permission, you didn't get epa permission, and now they say that's environmental hazard get rid of it or else? what are you doing about this? >> well, if i could, i'd like to just say first thank you to pacific legal foundation for taking my case on and providing legal help for free.

we filed suit in federal court on thursday, we're asking a judge to completely dismiss the administrative order that we feel is illegal and very abusive. >> what did you do wrong? you just built a pond for your live stock, that's it, that's all you did? >> yes, sir, that's exactly what we did. we have the state permits. state of wyoming signed off on it and said we're in good standing. our pond is exactly exercised as permitted. the epa came in, and said that basically we did not ask for their approval. and the potential fines are upwards of $16 million at this point. >> so you didn't ask for their approval. did you know that you had to have epa approval to build a pond? >> no, sir, we did not. our state never informed us nor did they know we needed a federal permit. turns out we don't.

they don't have jurisdiction over this project. we're more than 100 miles from the navigational water and we're under permit 18, some other ones, there's 52 and we have the stock pond exemption, we have live stock and surrounded by cattle ranches and-- >> what happened, did they suddenly arrive on your territory and farm hey, get rid of that unannounced and suddenly arrived? >> well, they just came into the picture right about when i was completing the project and they said, well, you may or may not be in violation, but you need to prove to us that you're not. and i didn't understand what they were about and what they were trying to do. then about six months later, they sent me an administrative order that threatened me with $37,500 per day of fines and i was supposed to remove the stock pond, resubmit it in ten

days, it's the middle of winter, physically impossible doing what they asked me to do. >> you would think you have a slam-dunk case to chuck the government out of court, you would think, wouldn't you? >> well, you know, any sensible person would think that. you know, our water is actually three times cleaner as it flows through our pond. it filters, it's providing a tremendous environmental benefit, we have raperia in. hab tat that there was not previously, and fish habitat. none of this makes sense. we're improving the environment and when we feel they should be commending us, they're coming after us, not only me, but my family and my home. they're attacking us. stuart: it macomb counties yo your-- it makes your blood boil. it does. come back on the show, we want to know what happens with this,

thank you. >> thank you. >> i can't believe. $16 million in fees, and told he's in violation of a something that the bureau doesn't have. >> and heaven knows what the legal fees would be if he wasn't getting legal help from pacific. and china looks look they're losing control of their economy and government over there. you'll get my take after this.

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i'm still in the money. coming up, three major donors abandon jeb bush's 2016 campaign. the race for the white house is a big money game. 's lost three donors. charlie gasparino on that shortly. at the top of the hour, an arrest made in the execution of sheriff darren goforth. we talk to an official who says, yes, there is a war on police. in china, if you post something on-line that the government doesn't like, you go to prison. the actual law says if the post gets 5,000 views, you are guilty of spreading rumors. the sentence is three years. the authorities are very upset about what they call rumor mongering. 197 people have been detained and one journalist confessed publicly. it was on state-run tv. the prosecutor says he wrote a fake report based on hearsay and his subjective guesses

without conducting due verification. what's going on? this is desperation. china has lost control of its stock market and its economy is sliding. if that gets out, the communist government loses its credibility and ultimately its power. so, crack down on the flow of the information. outside china, where there is a free press, china's trouble is headline news, 60 minutes did the ghost city story, the new york times reported sunday on ghost factories. the economist had a lead editorial on the great fall of china and the wall street journal had the ominous china's reckoning headline. and all of a sudden china is a stumbling super power wannabe. and they tried to chuck more money at the market and it didn't work. dropped another 3%. big problem, china's small investors have lost their shirts. what will president obama tell china's leader at the big summit next week?

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>> if you are just joining us and worried that this monday is repeat of last monday, you may relax and breathe something of a sigh of relief thus far. because at the moment we're down 117 points. compared to last week, this is not a huge selloff by any means. down 116 at 165, 28 of the 30 are in the retd that's true two on upside but this does not look or female like last monday at

this time. good news, gas 2.47 that is your national average more money in the pocket down she comes. take a look at this from a view tear in union, new jersey waiting for at a dealership there. he's watching varney & company with the sound up. in new jersey -- british all over the place. [laughter] we're spreading fox business so out there if you're watching you're ahead of the game. thanks so much for that. to president obama heading to alaska pushing aggressive climate change action today. steve moore joined us earlier and listen to what they had to say about that . >> they chose this is kind of a religion and i would make the case to show that he has not and this is one of the great things as president he's not making jobs job number one. he's more worried about the rise of the oceans than putting americans back to work an alaska by the way has had tough times because as you know with low oil prices it is really hit the economy there. they could use those jobs from

drilling. >> all right liz what do you make of the president? >> headlines he's facing he'll be first sitting president to visit the arctic circle however on his administration gave the oil company permission to drill off in the ocean off the northwest coast of alaska. also, the move just unilaterally to strip mount mckinley after william an change it to denali both sides of the aisle upset where he was born. >> i think he's building his legacy he is. >> but as usual creating bit of a wake of controversy. listen, i don't know why he wanted to rename them. obviously, just playing to local supporters who wanted that name change. but as far as steve moore said it the best where are the jobs? that's the problem? >> he's going to urge. obama is going to urge aggressive climate action on his visit. >> expect another executive

action possibly we don't know yet. >> legacy building in december and paris on climate change. got it. back to the latest iowa poll please. bernie sanders socialist beganning at hillary clinton bernie 30. joe biden who is not declared at this point, 14%. democrats strategist jessica joins us now. why are you laughing? [laughter] >> intro you know, i smile and i giggle at the intro, and then -- >> did they teach you that in talking point school? >> yeah. my young life. >> are you happy? [laughter] i had to add young because with i turn 30 and i feel sad about that. >> when did you -- >> i'm 11:now. you caught me. are you now challenging hillary clinton the queen of the democrats, i mean a social pis so close to beating hillary clinton. you happy? >> i wouldn't say that he's so

close to beating hillary clinton he's ahead of new hampshire. he's gaining in iowa but if we look at the general election polls we talked about this last week hillary at 45. bernie 22 biden 18. saying in head-to-head match of a general election as republicans not doing nearly as well. but a message a strong one. i think -- it is and like a degree. but -- >> he's dragging your party heavily to the left. >> he is absolutely and i don't like it. that i think what we should be talking about is inequality of opportunity that's where republicans are doing well because they're talking about the fact that you can't get a great job and qept to make it low qaij job is middle income. >> doesn't it pour out that the last few years it hasn't work. lowest rate participation rate is a low rate but he was dealing with incredibly desperate

economic situation we have seen gains. unemployment rate -- >> you decreased income inequality by taxing the billionaires out of existence. is that how you do it? >> not out of existence but tax them more and enroll in the process. >> inequality? it changes inequality. >> that money we don't get for taxes to put into infrastructure that's -- >> haven't you learned government investments is government spending and dunts juice the economy like private enterprise spending haven't you learned that yet? >> you've told me bunch of times. [laughter] >> isn't it obvious -- that history is simple. >> l what do you -- you raise 65% of americans who feel that they want government to play some role in redistricting income. what do you say to them they're all wrong? their not going to get elected purely. >> you want to climb the income chain you get a job. how? you get growth in your economy. how do you get growth in your economy --

how? >> you stimulate the private sector instead of regulating it to death and calling them names. >> it's not just that. >> it is that. >> it is not just that. >> 7 years hillary clinton -- had 7 years of all government all of the time and it has not worked. isn't it time to go the other way and say let's get -- >> to donald trump? >> let's get private enterprise going. >> a democrat message as well that is not something hillary clinton has talked about also she wanting worker -- >> getting message to go for private enterprise. getting that from democrats? >> no it is a mixed bag you have a middle ground no party is successful if they don't speak to those who foal they've been left behind also to the private enterprise message. i don't think that a democrat which hillary clinton fundamentallingly is just like her husband was cannot be successful in this environment. >> back to the left by bernie sanders. >> hope she comes on back to have a hillary clinton administration. >> you can she can come on back?

>> i do. i think there was a piece by david in "the washington post," someone who was not particularly kind to hillary about the e-mail scandal. where he said he went out and he talked to a bunch of security lawyers in washington and said this is not a prosecutable observance that it won't get to that int po. i think that's why we're seeing that she's 76 pbt favorable amongst democrats. they don't think this is going to sink her. they like her message she's from the middle here. bernie sanders has told her, but she'll rise up in the middling and still that has a really strong chance. tompleghts rise up. [laughter] always a pleasure good to see you financial >> thanks for having me. >> i have to look at the dow because now we're coming back a little bit but back a little. this is not monday august the 24th now? >> no. man pick monday. >> no, the 31st down 16005 back

a little bit there. i have to bring this no great relevance but i have to do it anyway. new research by hospital in athens that would be in greece that shows that a midday nap could reduce blood pressure and prevent a future heart attack. >> lovely. >> second -- dumb little studies. >> i love it if you don't want to take a pill -- >> saying margaret thatcher did with ronald reagan. >>still on camera for this i'm going to go home and go back to sleep now. to my welfare check. [laughter] socialists take naps? >> i'm very tired. i'm still growing maybe? >> i'll take a nap until i'm 50. >> i'll stop now. >> back to the nap a day reduces your blood pressure by -- 5% for peopling who stay awake

all day. so if you're you can get a halfn at noon you're good to go? >> who did the? >> study -- the greeks they say you're going to live longer. throw my two cents in here. i get up so early. i go to bed et cetera, et cetera -- don't go to sleep. do not go for a big, long sleep not in the middle of the day. you want a 20 minute cat nap or or 10 minute or 15 minutes close your eyes drift off but snap back. that way you're not in a deep sleep and don't wake up all over. >> where am i? >> 10 minute is perfect. half an hour. [inaudible] >> thatcher used to do that all of the time her key. >> ronald reagan and oprah winfrey as well. >> you got that? >> a democrat took a nap. [laughter] it's time for the sector report

this is sponsored so we do it every day at this time. it's the sector that we've been following very closely last few weeks. the big name tech companies. apple, new iphone expected next month. apple is up a fraction. tiny fraction. net news losing big name movie. no more streaming world war z is down a little bit. don't forget google, they are at the moment when the dow is down 90 points. maybe you could call it the trump effect. three being time fundraisers leave jeb bush's campaign. meanwhile, retired neurosurgeon ben carson picks up a lot of ground in iowa. and look at this. russia's president slayed leer muten working out prime minister pumping iron. we play you more of this video. if you really want it. [inaudible] >> thank god -- how's the college visit?

does it make the short list? yeah, i'm afraid so. it's okay. this is what we've been planning for. knowing our clients personally is why edward jones is the big company that doesn't act that way. usaa makes me feel like i'm a car buying expert in no time at all. there was no stress. it was in and out. if i buy a car through usaa, i know i'm getting a fair price. we realized, okay, this not only could be convenient, we could save a lot of money. i was like, wow, if i could save this much, then i could actually maybe upgrade a little bit.

and it was just easy. usaa, they just really make sure that you're well taken care of. usaa car buying service. powered by truecar. online and on the usaa app. we've gotpeptocopter! ummy town. ♪ when cold cuts give your belly thunder, pink relief is the first responder, so you can be a business boy wonder! ♪ fix stomach trouble fast with pepto. >> i'm nicole petallides right now dow jones industrial down 11 points and been down over 100 points from this point. so about half of a percent. dow and nasdaq, s&p as well, and so we're under some pressure. nasdaq down one-third of one percent. down losers include united technology, chevron, general electric, just to name a few. warren buffett's brook shire hathaway takes four and a half billion stake in fillups. up side about 2% of 78.81 and

jcpenney banks raising its ratings to abide from a whole. that stock sup three and a quarter percent for getting a couple of names. a price target of 12 dollars we want you to start your day on f business a.m. sandra smith and lauren simonetti and i get you started with all of the breaking news that you need.

>> what a difference a week makes we're down less than 100 points a different story last monday. down 101 right now. now, this video released shows russia's president vladimir putin getting in a workout a little later you see here -- there you have him. that's prime minister medvedev they got together pumped some iron and ate breakfast together. the whole bowl of wax. what's up liz? >> putting up butched images of him strong at a time when oil is cratering russia needs oil north of 100 dollars barrel to keep the state on oil company profitable an company hunting.

[inaudible] >> because normally wrestling tigers or somethings or horse riding bear back in very good shape. >> russia's economy snot -- is not doing well. >> so pushup and -- still strong. doing rather well now this. jeb bush losing some of his tom fundraisers amid slipping poll numbers. charlie gasparino vieght here, now who are these fundraisers and what exactly have they done? >> i don't know who they are, i don't think it matter who is they are. but they are top fundraisers that work for the campaign. now campaign is saying they shifted themselves over to his pack. >> a negative? >> yeah. >> good one? >> because it look like three people are looking to disassociate to him, the pact but still it is not directly related to the campaign the way that finance and it could be their transition out. i will say this, you know, this is not something that jeb bush

has an ability to raise money. okay, if you start chipping away his ability to raise money that's a real problem. three fundraisers jump ship now in the pack -- >> go to the quacker campaign. >> yeah . >> is this because of trumple's relentless attack on bush, or because of bush's performance thus far on the campaign trail? >> it is incorrectly related to what trump has said, and kind of put -- like he has got the jeb bush very low energy. i think what had people are saying now with what a lot of republicans are saying is they're doubting whether he could win. he's way too much of a gentleman at some point this is a rough and tumble sport. president obama clearly articulate as he is did not, you know, consider politics a contact sport. that's why he was able to beat hillary clinton back in 2008. that is why he was able to beat

mitt romney -- >> wouldn't go for the jugular. >> he could have. wouldn't go for the jugular. you know one thing, though, that i think jeb has going for him is scott walker. scott walker is almost as low energy as he is, and now coming across very -- he needs a little putin in him. >> jeb needs to -- >> should pump some iron do some pullups. >> this is a montage of trump attacking jeb bush. roll it. >> bush will never have a clue. women under my administration will be taken care of not like jeb bush. what he said was a disgrace. >> jeb bush you know i keep using hum because he was like the guy that you have to beat. but he's like down, going down -- >> jeb bush doesn't have a clue. doesn't have a clue. >> jeb ear crowd you know right down the street is sleeping. they're sleeping now >>.

jeb bush a vigorous attack he's fired. done -- justinjeb bush, sleeping it is . >> you have to wonder what does audience want? they want clear declarety of people who say i have to do this, this, and this. >> fire in the belly trump needs to put meat on it. yeb is all substance so much substance you go to the website you fall asleep like a ph.d. dissertation trump is different way but at some point voters want to vote, they like to -- the tough guy. everybody in the audience you think many might be a repeat of last monday the answer is thus far this monday it is not repeat of last monday down triple digits but only just 16005 on dow industrials well above 40 a borrel. big runup last week holding at 44 dollars a barrel today. we've had had guests on this program who say it is going to drop to 34 or less.

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>> taking a look at the cost of oiling for you price of crude 84.49 down a percentage and a half. but cost of crude jumped last session, ending at the highest price since august 4th. so jeff flock, looking to crystal ball what shall we expect oil to do this week? >> i have to figure downward pressure, ashley, you know it was an incredible week last week down to 6 and a half year lows at the start and back by 10% next day. today actually we're way off the lows. we were down maybe a buck 60 at one point. i'm looking up at the board and thinking we have the low it is that is good news there. the other piece of this is gas prices. of course that's positive news for folks in the economy. take a look at the numbers on gas prices week ago we were 260 now at 247 just for further rerves a month ago 267 a year ago we were a down more. so that is nice giveback to the

economy right there. we'll continue to watch oil prices i have to believe, though, today we have some positive -- production data at least positive to the price of oil because the production level was lower according to the government. first five months of the year than they thought. good news. >> jeff flock thank you very much. >> we've had a busy morning on varney & company full two hours of the hoe is in the books right now. here are the highlights we have more varney for you just two minutes away. >> i don't know if this is a home run for apple yet. but i think when they get into display technology where they can own your living room, that's where you start be betting they have captured in that part of our house and life. chg you have to have a middle ground no party is successful if they don't speak to whose who feel they've been left behind also to the private enterprise message. i don't think which hillary clinton fund mentally is can't be like her husband. >> fine. i hope she comes on back, and we

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stuart: one thing we try to deliver on this program is clarity. we don't use confusing jargon, we go straight at it. that he is why we don't spend much time on the fed. we have grown tired of this endless fed watching. bankers held their get together in wyoming last week. it was a talk fest with zero clarity. you may have caught some of the interviews. will interest rates go up in september? that's the big question. the answer in two camps. one the fed should raise rates but might not. two. the fed should not raise rates but probably will. how's that for clarity? and where does it leave you, the investor? up a creek. you've just been through a herring week in part because there's absolutely no clarity

about interest rates and where are we now? waiting for the next bankers meeting next month. the industry will be naval gazing all over again. the bankers will avoid saying any substantive and the tv analysts will make a fine living passing every word. this is what happens when america's central bank becomes a stock market regulator pumping money into a 2% economy with zero interest rates. we are fed up with the fed. ♪ ♪ ♪ . stuart: just after 11:00 eastern time we start with the markets. it is monday morning. it's not looking the way it looked this time last week. we are down but nothing like the 1,000 point loss that we felt at one point last monday. down 133 right now. 16,500. there are some big losers

among the 30 dow stocks and they are united technologies, chevron, ge, and du pont. all of them down nearly one and a half to two and a half percent. all of them down. and we follow the big name tech stocks, they've led the market up and down and the rebound too. they're pretty stable they would say morning. netflix is the exception. down 2%. price of oil. well, that's a modest selloff. down 82 cents but still at $44 per barrel right now. we're a little worried there, price because we didn't see you seated. we were thinking good lord i've got to handle this entire interview myself. but there is bryce. now, are you prepared to say that the worst of the selling is over and maybe we could be a little bullish and go on to set new highs? are you prepared to say that? >> i'm prepared to say that in

the long term, stuart, i think the first hard drop as you mentioned the dow down 1,000 plus points last monday. it's the first stage of the bottom. so usually when it's that severe, you'll see backing and filling for the next four to six weeks and then you'll see the market really launch. i think the timing will be tied to early-to-mid- october and then you'll see the market rally. we saw the same thing happen august 2011 selloff when we had that debt downgrade fear and the markets bod in early october. had the best one-month gain since january of '87 in october of 2011. so i think we're setting up for that but not there quite yet. stuart: so what you're saying is you're giving reinsurance morse of our viewers who are individual investors. you're saying, look, it's a nasty shaky period. it's high anxiety time. we may drop a little bit more but hold in there. don't sell it all. don't get out. wait for the rebound, which is

coming somewhere down the road. can i just put it like that for our viewers? >> absolutely. i think the worst thing you can do is sell now. even if we get a 4, 5% pull back in the markets, this is normal getting this short-term confidence. but, you know, when we're looking at the condition of the economy, inflation below 2%, i believe the fed not going to tighten like everybody saying they're going to. i think they're talking tough but they're going to back off. let's face it. the bond market has done well despite worries of the fed. so it's a good time long term to be in stocks. stuart: i've got this great news item for you. warren buffett bought a 10% stake in a oil refiner, valued at $4.5 billion. if you look at fellowship 66 now, the price is above 2%, 87 for fellowship 66. now, there's a guy, warren buffett coming in to look at what he thinks is a bargain. >> right. stuart: and i believe you

follow him on this. you like a couple of refiners, you would buy them if you haven't already; right? >> i like them and own them. vlo, it's really been a leader, pulled back to its long-term support line and hanging like a champ here and also tso, those are two of my favorites. go back to the old highs. we're talking 15 to 20% upside potential here. so basically when all the managers were selling everything, you get a chance to find some gems when you're looking for quality within that kind of panicky market. stuart: but you're talking long term, aren't you? you're not saying get in today and sell it tomorrow, you're saying get in and hold it. >> yeah. next 12 months outlook. the beauty of the refiners, they've done well and oil prices getting pummeled, they've continued to produce the profits and are benefiting from those still very profitable margins between the refined and unrefined crude. so regardless what oil does,

it's a good place to be. stuart: i think you like two of the big name tech stocks, which we follow very, very closely. i believe you like facebook at 90; correct? >> yeah. i like facebook on a little of a pull back here. i mean basically -- i like it here, i like it better probably under 85 because i do think the market is going to go through a little choppiness next month. so be ready to buy it. if you own it here, it's fine. it's a leader. and they beat earnings 11 of the last 12 quarters. everyone is worried that these stocks are overvalued. you want to own those stocks that trade at a premium if we're going to have a continuable market. which i believe we're going to have another year to the upside. you want to own leaders like facebook. i expect it goes ultimately up probably 100 and then astronomically 120. >> no. stuart: 12 months. stuart: okay. how about netflix? a little pull back today but another one you like for the long haul i believe. >> absolutely. i think netflix, you're talking about a whole disruptive innovator in

netflix where a lot of people, you see all the cable companies losing customers because it's a lot cheaper and cost effective to have a netflix monthly subscription for $8 or 12th a month and basically you're talking about a huge library, a lot of people are still worried about it being too highly valued. i think netflix, again, a little bit more of a pull back here, about another 5% is a pretty good buying area i believe eventually to 140 over the next 12 months. stuart: we hear your price and we thank you very much the reinsurance you've offered our viewers today. i've got breaking news. come on in with this one. a new university poll just crossing. ben carson and donald trump now tied in iowa for the top spot in the republican party. both at 23%. >> that's amazing. stuart: there's the helen for you. >> carly fiorina comes in third with 10%. so the top three are the nonpolitician types. stuart: now, that's the headline, isn't it?

>> carly fiorina and ben carson. stuart: that's extraordinary. >> absolutely surged in the polls at a previous poll, a couple of weeks ago donald trump had that same 23%. carson didn't have anything close to 23 and look at that. >> that's the best poll i've seen in a long time where donald trump doesn't have distance between him and second as i say could he have peeked? >> the voters might want some pedigree. stuart: politics is our bread and butter, and wall street of course. and miles, the man charged with capital murder in the shooting of deputy darren. he will be arraigned today. officer was shot repeatedly friday while filling up his gas tank. authorities believe he was a target because he wore a uniform. joining me now milwaukee sheriff clark. sheriff, i've said it and i

think you've got the same mind, there's a war on police right now in our communities and i think you have an idea where this war came from. tell us, please. >> stuart, i'm through being diplomatic as our nations finest have being gunned down in the streets. i said it last september as after officers ramos of new york police department finest were ambushed inside their vehicle. i'm disgusted that there's been no sense of urgency in the president of the united states by these cop killings. he breathed life into this anticop hatred. and he stands by as it goes on. he went out and visited a federal prison, federal prisoners as he pardoned 46 of them. i would like to think that he take a moment of his time, get off the golf course and is go visit a police station, attend a roll call and encourage the men and women who go out and sacrifice every day who put their lives on the line to

better their community. this assault that happened in houston is an assault on our standard living and american way of life. the law enforcement officer defends the rule of law. the rule of law is the bedrock of a democracy and now that's under attack. i've put in a call to assistant -- not assistant, attorney general lynch in july, stuart. and asked to discuss with her this spike in cop killings across america, and she had send back an e-mail to me say thank you but the attorney general doesn't have time on the schedule to talk to you. that's the state of things right now and that's what i said as far as i'm concerned, the gloves are off, and it's now time to drive a stake through the heart of this anticop sentiment in america, this slime and send these cop haters back into the sewers that they came from. stuart: all good rhetoric, sheriff. but how do you do that? >> it's not rhetoric, stuart, . stuart: okay. but how do you

do this? >> we need -- well, what we saw in houston over the weekend where 1,000 people gathered were deputy danforth -- or go forth was killed, we need to take that kind of energy and have counter protests wherever these black lives movers, matter movement and situations are held and have counter protests confronted. shouted down. that kind of ugliness and slime has no place in american culture or american society and it's time to bury it. stuart: one quick aside here. i understand the police force in milwaukee all -- everybody, they're going to be equipped with body cameras. is that accurate? >> that's what the headline is, but that's not the problem here in milwaukee, wisconsin. the city is 300 officers short. i'm 150 deputies short. they won't give us the

resources to go in and cleanup the mess that these liberal politicians here have made. but now they want to put expenditure for body camera. i'm not against body cameras, the criminal and the policies are the problem in milwaukee, wisconsin. stuart: are you at some point considering a run for political office? >> i'm the sheriff of milwaukee county. i was recently elected. i love being the sheriff, i love serving my community. this is about the american police officer, stuart. this is not about me or my future ambitions. stuart: we like to hear from you sheriff david clark. thank you is so much for joining us, sir. >> my pleasure. stuart: president obama will host the president of china next month. and now we have fresh economic sanctions from china being considered. ralph peters is next. he's not convincing the president he's getting tough on china. >> what you do is you push the people who are doing the hacking, you make it painful

for them and you stop the sons and daughters who want to come here and study at our universities. you push them too

stuart: i know it's dangerous, but i'm going to say maybe there's an element of stability into the market this morning. dangerous word. >> only down 100. stuart: only down 10 # points as we speak. we came back a little earlier. now we're back triple digits. 1103. there you have it. and dow losers, chevron, ge, do you upo, do on the downside. and this is the head of present state with china's president later this month. and with me now, one of the if not the favorite guest on "varney & company." strategist analyst ralph peters. what do you make of this? the president is going to meet with china's president, going

to consider some sanctions because they've been hacking at us. do you think that our president is going to get a backbone and talk tough to china's leader? >> no. stuart: okay. [laughter] >> shortest answer i could give you. no, but the fact that the administration annoyances it that they're considering sanctions, really concerns me on two counts. first for this administration, which are has been terrified, because of cyber theft, that tells me the problem is much, much worse than we all are being told. otherwise this administration -- now, the second concern, the obvious one is that this administration the fear to do anything. to really -- obama likes symbolic gestures. he likes rhetoric. and so my fear on that count

is that he will at some point announce these baby tap sanctions that the chinese will just laugh at. now, of course the chinese whatever we do will kick up a fuss and be drama queens about it. but sanctions have so bite. if you're not going to impose serious sanctions that bite, just don't bother. and meanwhile -- the bush administration also didn't impose sanctions. stuart: at a time like this, do you really want to have sanctions on china, the second largest economy on the world that bite? i ask this because china's leaders seem to have lost control of the stock market, they've lost control of their economy, it is sliding big time, and they're in the process of maybe losing control of the population. if you impose strict sanctions at a time like this, you could unleash trade war with negative consequences for everybody. do you really want to do it? >> i don't think we would because, you know, the time to hit china if we've got to hit them on any sphere is when they're weak. you don't hit them when

they're strong. when they could wage a trade war. right now china can't afford a trade war. 1% if our gdp business is china. that's more than it sounds but nonetheless. we are not the ones in the position of weakness here. and what do i want? i'll tell you what i don't want. i don't want chinese government, the economy in china to continue steeling from american businesses and the american government. i mean we spend hundreds of billions of dollars on r&d. the private sector, government sector, the military and the chinese just steal it and there's no penalty. at some point we have to get serious. that doesn't mean we're looking for a trade war. i'm only saying that if you are going to impose sanctions upon china, they have to have bite, and they have to target the organizations or individuals who are generally responsible. not some paper bag manufacturer. . stuart: okay. how about this. a forecast that was on this

program. when the chinese leader gets here and president obama meets, there will be some kind of public statement. i'll bet that that public statement is very positive about climate change. the president will say the chinese leadership has come around and will cut carbon emissions starting sometime in the future and we'll meet them. everybody getting together, climate change legislation, a great thing for our two countries. i bet that's the spin that's put out publicly. >> it may will be. the problem of course will be getting china to honor any agreement they made. i mean already the agreements that are tentatively in place allow china to continue polluting wildly for a generation beyond right now. and, again, as you know, stuart, i don't understand why serves around. i believe in rational measures without fatally damaging our economy. but we're not the real problem. we've got problems but the real problem is china.

it is india, and no matter what we do, and i hope we will take intelligent measures to protect our natural heritage but no matter what we do, if china tons pollute as wildly as it is, destroy its own water, air, country side, its people, then we can't make a dent. this has to be a global effort and, by the way, i'm not arguing for global measures, i'm arguing for sensible measures to protect the global natural heritage. i grew up in a terribly polluted area. stuart: i'm embarrassed to say. i've got to interrupt you. i'm embarrassed to say i'm interrupting you because we've got a tom brady decision. i can't believe i'm doing this but i am doing it. breaking news, the tom brady case, adam shapiro, what is the news? >> the judge will issue his decision either tuesday or wednesday. there will be no settlement. the court proceedings took all about five minutes. neither side able to reach any

kind of settlement. this will be all or nothing. if the judge upholds the brady suspension, he will not play on the 10th of september. if the judge throws it out, he could possibly throw it back to the nfl and this could be still up in the air. but as of right now no settlement. a decision the judge says will be handed down either tuesday or wednesday. stuart. stuart: so it is still up in the air, isn't it? >> whether he plays is up in the air. but the decision is coming tuesday or wednesday. stuart: adam, thank you very much indeed. tough duty out there in deflate gate. what is your limit on paying for inflight wi-fi? because the prices are about to go up, and i mean way up. we'll deal with it next

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and this savings applies to every vehicle on your policy. call to learn more. switch to liberty mutual and you could save up to $509. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. stuart: well, look at this. now we're down just 86 points on the dow jones industrial average. i wonder could we close higher on the day? you have to wait until 4:00 to find out. where is the price of as of right now? it's $45 per barrel. very interesting. wi-fi on your future flights could be faster and may be more expensive. i've got a series of questions for lauren who knows more about this than i do. >> okay.

stuart: what did you -- you use go-go in flight; right? >> yes. stuart: what did you use to pay for this? >> i've taken flights with go-go and paid for it many times. 10, 12th. stuart: what do you pay now? >> depending on the route, it may be $28 and up, they would probably tell you only 12, but they charge you 28 because of demand. a lot of people on that flight, limited bandwidth. stuart: are you satisfied with the service you get now? >> i haven't used it in a while bill inbound i understand it's very spotty. stuart: what we're promised is better service, faster service. >> just last year go-go to increase their bandwidth and their satellite technology. so that service should be faster next year. the price tag question mark some are saying it might actually be cheaper because they will have more bandwidth but i don't know about that. stuart: all right. straighten

that one out. thank you so much indeed, lauren. facebook, its got a lot of friends, a lot of people believe in the stock, a lot of people i meet say, yeah, have facebook for the long haul but you cannot say that for the fed. we can't seem to get a straight answer for anything on them. we are fed up with the fed. back in a moment

stuart: coming back a little. down 90 points on the dow jones industrial average. very different from last monday. look at twitter. some say buy it. some people are, 3% up at 27. gas. the plunge is upon us. 2.47 is the national average now for regular. down again overnight. actually down a dime in the past week. let's get back to my take now. i am truly fed up with the federal reserve and the things that come out of every meeting. and joining us now kevin with the federal reserve for many, many years. kevin, are you with me on this? i thought it was going to be more clarity and all we got was confusion of leaders who try to tell us what's going on and can't. >> right. they absolutely tried or emphasized that they were going to be transparent but here's the first move that

they've made in years and years and nobody has a clue whether or not they're going to move or not here this close. the fact is that this transparency has been a failure. transparency is only useful if there's content. maybe the transparent thing we have learned that the fed don't have a clue. they don't what they're going to do a week before they do it because the data is so important. but that's a very bad place for the for the record move us to. i leaked better that we didn't have the transparency but we could see what's going on. stuart: we're a program that likes to know what's going on and what's happening in the world of finance and we're constantly going up against this barrage in the world of fines against the fed and nobody what's going on and no one offers us clarity. do you feel the same way? >> yeah. exactly and i can tell you that it doesn't have to be that way. that it would be very, very easy for the fed to be transparent and measured and

cautious and to, you know, worry more about unemployment than maybe -- let us have morin inflation. they could do all of that by stating what they're going to do. as an example, what they've done is created this weird place where there's this superstition that if the fed moves a little bit then the whole world economy is going to collapse and so now everybody's so anxious about what's going to happen when the fed moves that the economy starts to collapse so the fed can't move. they've dug themselves into this terrible hole. the only way to get out of the hole is for them to give us a move. so what i would do right now this september meeting is increase the federal funds rate by not even a quarter point. go up 12 basis points, half of what the market expects. you would probably see a market celebration and we would prove to the superstitious people that the fed isn't going to destroy the earth for the hiccup. stuart: there you have it. clarity for once. you can come on this program any time you like.

kevin, we appreciate it. thank you. >> thank you. stuart: now, this. this is a shocker. president obama will appear on a tv survival show. the show is called running wild with bear grills. it will be taped in alaska. aired on nbc. wait a minute, company. >> yes. stuart: that show takes celebrities off into the wilderness for 48 hours. >> yeah. >> repel down 200-foot cliffs . stuart: the president not going to do that, is he? >> yes. >> i don't think he will. >> i think he will. stuart: no. you don't know it. >> i don't know it but this is something that celebrities do, michael b jordan on it tonight, it has pretty good ratings, 3 million people -- 3 million people watch, i think he's going to do it. they'll probably give them. >> a chance to get attacked by the bear, the secret service is taking that bear down. you know that. >> he's an athlete. why wouldn't he do it? . stuart: because he's the

president of the united states. >> special circumstances? . stuart: i tell you why. he'll be on the show. i don't think he'll do the 48 now these wilderness. he's on the show because he wants to enhance his global warming,. >> and that's it. much of this is going to be discussion of climate change. stuart: there it is. i think we've sorted that one out. lauren, you're totally wrong. >> we'll see it later this year when it glares i'll pay you good money if the president of the united states goes in the wilderness for 48 hours. really big money. >> you heard it here. stuart: august 31st. >> all right. fine. stuart: i want to repeat the breaking news we brought to you earlier. a new university poll ben carson, donald trump, tied in iowa for the top spot in the republican leadership. both have 23%. carly fiorina, 10%. 23, 23. trump, carson. >> what does that tell you? the top three are nonpoliticians. stuart: true. >> you have a businessman, a doctor, and you have a retired executive from the business world. stuart: what does it tell you

about ben carson? >> that he is surging right now, and i was trying to think what he's done giving him this surge? he's just been himself the whole way. stuart: it's an extraordinary poll. >> it is. stuart: and this. the national relations board workers being hired by another business, franchisees, they're still on the hook for labor violations. that could have real consequences for my next guest. welcome white castle vice president jamie. all right, jamie. without getting the complexity of the nlrb, you tell me directly how your fast food operation will be hurt by this ruling. >> well, stuart, in a representative democracy, power shouldn't flow from the barrel of ten and increasingly that's what we're seeing from the nlrb and other agencies. it fundamentally puts a barrier between the franchisee and the franchise, white castle is not franchise but we worked with contract employers. our industry is strong with

because of franchisees and we compete in the marketplace, we want our colleagues to not have to compete with the government. stuart: okay. so you use contractors; right? how is that -- how is this ruling going to hurt you, white castle, versus your contractors? who gets hurt? >> well, what it does is it takes over 30 years of precedent and says we're treated the same as that contractor we're working with. so we're responsible things -- we're held accountable with and things we have no connection other than this as a partner that we agree to work with. and our frozen foods, contract employees, they're from an employment agency. they're saying now with this new ruling that we're held accountable for whatever their employer's doing and we're hoping the country discovers our energy and that the clutters protect the rule of law and free enterprise in some of these bad decisions. stuart: so responsibility is now being transferred to you, the central authority at white castle. you're the boss. unresponsive headquarters. and now you are responsible

for everybody that's working everywhere in white castle. that's the case? >> yeah. and if we hire a firm that has their own employees that they're accountable for hiring and we're contracting with them, those same rules applying to us. so this overturns 30 years of precedent. our thought is that it shouldn't and won't stand. but for now an activist mlb continues to make decisions like this. just like the department of labor is doing with over time. so it's not just one thing, it's one thing after another that takes opportunity away from hard working americans everywhere by making it tougher for job creators. stuart: we've got it. jamie athe white castle. it's complicated stuff but i do understand it now. we thank you very much, jeremy. >> crave on thank you. stuart: what did he say? >> crave on. stuart: is that their slogan? >> no we know.

stuart: and coming up hillary clinton dump on e-mails. another one on that. and would you want to know where to buy the cheapest prescription? we're going to show you exactly how to do it 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?

>> i'm nicole petallides with your fox business brief. the do you just industrial average down 32 points, had been down close to 200 earlier today. markets obviously still seeing volatility. let's take a look here. august losers, disney,

chevron, those have been under pressure. disney's down 15% this month and chevron, walmart, ibm, down about 10% for the month of august. also taking a look at fitbit. fitbit today is a winner. it's down almost 30% for the month. competes against apple in wearable devices and apple is closing in on fitbit's lead. and then there's netflix. and the hunger games catching fire, also some of the other movies, well, hulu is now epix deal and we want you to start your day every day on fox business, at 5:00 a.m.

stuart: like it or not, i'm going to call this a come back. we're down a mere 22 points, what a difference a week makes, does it not? you never know, it might turn positive by the close. i'm not saying, you justrch know. facebook, $90 a share. why am i showing this now? i'll tell you. and u2 he's made more money off of facebook than his entire music career. go back to 2009 before facebook went public, he bought a 2.3% of the company. ashley, what did he pay then and now? >> he paid 76 million back in 2009, today it's worth $1 billion. not a bad rate of return.

>> so what does that make him? >> the world's richest pop star. madonna about 600 million. stuart: say it ain't so. he's worth than beetle? >> by about 80 million. stuart: that's a lot of money. >> not bad. stuart: here's the next case. if you need a prescription, wouldn't you love to know where you can find the cheapest meds? the new 1rx app does it, and it works whether you have insurance or not. and i really missed up. aj, welcome to the show. >> thank you so much. . stuart: now, let me get this right. if i get your app and put it on my champagne, i need meds of some sort, punch the app, and your app will tell me where i can get that drug cheapest in my immediate area; correct? >> even better. it will tell you if it's

covered by your insurance carrier or rules that are governed by the. stuart: you've broken through the bureaucracy and tap the app and i'm in. >> well, you're four to three times more likely to abandon the drug, never even fill it. so providing both cost as well as access to your drug, we're making sure people get healthier. stuart: i would imagine that the pharmacist and the insurance companies just hate you. >> well, i think they love us because at the end of the day appearance is the key. stuart: get out of here. they don't love you. they feel threatened by you. >> i think whenever something's new, people are a little hesitant, but i understand once they look at the economics, they're going to love us. stuart: okay. it's free. >> yes. stuart: i don't have to pay anything. >> no. stuart: but i do need a prescription for the drug in question. i can't just dial up the app and away we go. get what i want. >> yes. i mean ultimately at the end of the day we want you to look up the medication that you're already on or if it's a

new prescription, the example i give is i have chronic dry hours, no kidding i look at a monitor 14 hours a day. and i was at the doctor and he prescribed me an antiinflammatory. and one of the things i was able to do while sitting in the chair is was it covered and my out of pocket expense is $60. and my insurance carrier wants me to use this drug. i can get it cheaper with a coupon by the manufacturer by $35 and he was in awe. he said this will save me a lot with my patients. stuart: you have to put your personal information in the app. >> correct. we made it very easy that you take a picture of your insurance card. so if it's a carrier we've worked with, it should be available in a matter of minutes or new carrier, an hour. stuart: how quickly. >> i would say we're loving close to 5,000 a week is our newest trend and also a lot of

our existing clients are very interested in partnering with us. stuart: are you private. >> yes. we are. stuart: how big of a stake do you have in 1rx. >> enough to keep me on the board. stuart: are you going to do an ipo? >> i think we're focused of doing right what's good for americans right now. stuart: would you take $100 million for your share of this app? >> i think once we're done with the job we set out to do, i would be happy to take whatever the market bears. stuart: you're on a mission to help america; is that correct. >> that's correct. stuart: but seriously it's a great app i'm very intrigued. thank you so much for coming on the show. >> thank you so much for having me? stuart: yes, sir. how many times should a federal agency have to be told by judges to turn over records? happened again. more legal troubles follow the irs. and all eyes on the court as the u.s. open -- maria pulled out last night.

last minute pull out. unclear if that's good or bad for serena williams. we'll have the latest on the u.s. open in a moment or becoming the next highly-unlikely dotcom superstar. and us, we'll be right there with you, helping with the questions you need answered to get your brand new business started. we're legalzoom and we've already partnered with over a million new business owners to do just that. check us out today to see how you can become one of them. legalzoom. legal help is here.

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stuart: another batch of hillary clinton's e-mails to be released today. state department officials tell fox it will be around 6,000 pages worth. that official also says 30 of

them will be redacted because they contain classified information. to date, roughly 60 e-mails have been redacted because they contain classified information. expect that release around 6:00 eastern time tonight. big deal. more legal fallout for the irs and the alleged targeting of conservative groups. gerri willis is here. now what, gerri? >> i have to tell you. another information another denial. the irs stonewalling here and this is from a new group called cause of action, this is different from what we've been talking about. this is what you're going to find interesting. this is the information we've been looking for. e-mails between the white house and the irs. stuart: that's the big one. >> right? . stuart: so why would they release it? >> this is comical. they say if we release this information, we will expose individuals personal taxpayer data to the public. and what does the federal judge say? release the information.

it's information that you must follow through on. this is before a federal judge, she is adamant that they have to share this information and i have to tell you now it's beginning to add up; right? lots of different groups asking for information from the irs. ververy few people getting . stuart: now, what people are looking for is a link between the white house or reelect the president campaign. >> right. stuart: and the operatives in the field who did the targeting. if there's a link, if there's an order from the white house, go get them. if that's the link, then you've got a real scandal on your hands and that's the e-mails we're looking for; right? >> and it could be explosive. when they get information, we're going to be pouring through it but the accessory trying to stonewall on this information. they're running out the clock and i think that's what's going on here in the obama administration. stuart: that's a long clock to run out, though. >> it certainly is and the judges aren't cooperating.

they're on the side of the information, as are we, we want to see this information out and we want to see what happens the next step. but if you'll remember, one of the previous information of request what came out most recently, lois learner had a private e-mail address that she hadn't told anybody about. so there you go. these things come out. it's explosive and of course we'll continue to follow it. stuart: i think you'll get there. [laughter] i'm hoping you do it on this show because i want to know. gerri, thank you so much. it is september which means theist open tennis tournament starts today. besides those $9 bottles of water, what are you looking for? >> serena williams to win and i believe that completes her set of grand slams because i think it's hard to bet against her right now. she's playing terrific tennis, back in front of the american audience. stuart: because he's got a british accent?

>> someone asked who's his favorite soccer team and he said anyone playing against england. >> i like djokovic. stuart: by the way, ken sullivan, tennis channel chair and ceo, he will join us tomorrow on this program. will be with us. quick check of the markets. the price of oil, first of all. look at that, will you? >> the energy information administration lowered their monthly estimate for crude oil production. so when we started to see oil change course, we saw stocks go up a little bit. definitely came off the lows. stuart: so that's why oil is at 47. maybe less supply in the future. >> less supply. stuart: dow is down 57, and you will get more varney after this

>>

>> >> transparency has been utter

failure only useful if there's information con tengt. now maybe you know, the transparent thing that we've learned that peopled at the fed don't know a week before we do it because last little bit of data is so important. a very bad place for the fed to have moved us to. i liked it better with out transparency but we could see what is coming. >> works as a columnist and shares our frustration with the federal reserve because there's no clarity coming out of there whatsoever. reading the tea leaves constantly and market goes all over the place because of it. speaking of markets going all over the police station. oil who would have thought we get another 5% gain as a of now with 47 dollars a borrel? that's a story again, the information administration they've lowered their estimate 40,000 barrels day. lowered it less supply. price goes up. okay. that's extraordinary. >> now you have energy stocks in the market moving substantially

>> that's helping overall stock market. i think they've got it. david is in for neil cavuto it is yours david. >> thank you. a shaky start to the week, and i end of a wild mcconnell mccain knows why this market is behaving as it is right now. what is the answer connell? >> saving that up but hosting the 3:00 show . leading with that, and i want to keep it away from everyone until then. it has been crazy your right about that. give you calendar events and anybody else who took points off on monday it tells half of the story. down 1,000 points, and those wild things, on wednesday, thursday, really don't even tell the whole story because go back to the week before. the last week and a half. craziness that we've seen. all of the headline after today is all said and done. maybe that we've had had the worst month in the storkt if in more than three years this month of august. we'll see how it closes out.