tv Varney Company FOX Business October 6, 2015 9:00am-12:01pm EDT
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terrific place for me to be getting some work done there. maria: dr. bernanke, thank you for stopping by. >> thank you. maria: dr. ben bernanke, that will do it for mornings with maria, a big show planned, "varney & company" is next. stuart, have a good show. stuart: we shall, thank you, maria. hillary clinton goes on the attack, why not? the republicans have presented her with a golden opportunity. out today, hillary's first national tv ad and hits the republicans hard for recent gaffes. this affects joe biden's calculation, doesn't it? . big news in the fantasy sports, not good news. an employee wins big, $350,000. the suspicion is he used inside information, bad pr for the hard-charging fantasy guys. mcdonald's, all day breakfast starts today. welcome to the debate. is this really such a big deal? by the way, no hash browns for lunch or dinner, but, hey, the
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dow jones industrial average has gone up 500 points in two trading sessions. you want to check your 401(k)? why not? "varney & company" is about to begin. ♪ the rain has stopped in south carolina, but there's still the potential for more flooding and evacuations because a mass of water is making its way towards the coast. ten deaths in south carolina, two in north carolina, blamed on the storm. that includes five people who drown in their cars in columbia, south carolina. the state's capital. the solid week of rainfall sent about a thousand to shelters, left 40,000 without drinkable water. now, this tuesday morning we are seeing the devastation and that's a good word. devastation is correct. all right, look at the markets now and look at the dow futures. remember, please, we're coming
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off a 500 point gain for the dow industrial average in the last two trading sessions. we're going to take you right to the opening bell in about 28 minutes' time. let's see how we go today. should be flat to slightly higher, not bad. no change for gas, we're still at-- crude oil, i should say. mid 40's per barrel. no change for gasoline either. we're at 2.29 is your national average. got that. now, look at dupont. ceo ellen coleman stepping down. that stock price has come down 27% this year. we're going to discuss, was she pushed? why is she leaving now? the stock will go up at the opening bell. now, the fantasy football scandal. please note, 21st century fox, parent of this network, is an investor in draftkings, okay. ashley, you've got it tell me what happened. ashley: an employee of draftkings won $350,000, which is an amazing haul for fantasy football in one week, at the
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rival company fanduel, but inadvertently some information was released, which suggests that these people working for these companies who don't play their own company's fantasy leagues, but they can play the others, that they're getting access to information that the public does not. classic insider trading argument. now, what is that information? well, it could be that what are most of the players, who are they picking for their teams. when you know what other players are picking, you can pick your own team to give you an advantage. stuart: you can get an advantage by using this information. ashley: yes, you're using the metrics within your own organization. and who is picking to this week. stuart: the charge this is the same kind of insider trading as you see occasionally on wall street. ashley: as the ceo giving inside information to a fan or friend who acts on it. stuart: the aftermath, the possibility that fantasy leagues could be regulated.
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ashley: critics say it's no difference than a las vegas sports book. they're saying it's not a game of chance, but a game of skills. they estimate close to, it was going to generate more than $14 billion by the year 2020. stuart: a year? >> yes, a year. stuart: that's bet on money, on the table in fantasy leagues. ashley: you've seen the advertising. it's taking over and people are jumping in feet first and it's big business. stuart: all right. we'll have more on this in just a moment, i'm sure. you got me going. now, hillary, she comes out swinging, this is her first national tv ad. roll that tape. >> republicans finally admit it. >> republican mccarthy saying the committee investigating benghazi and clinton's e-mail was created to destroy her candidacy. >> everybody thought hillary clinton was unbeatable, right? , but we put together a
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benghazi committee, what are her numbers today. stuart: you can say that republicans opened the door and hillary walked in. they gave her an opportunity and she took it. they are is katherine from the national review. welcome to the program. >> thank you. stuart: could i say in broad general terms the republicans do not do politics well? >> yeah, they really, really don't. bad move, bad move to say, yeah, this committee is going to affect the polls. go instead with maybe someone who is involved in benghazi who led to all the scandal, associated with the scandal, doesn't deserve to be president. don't say it's motivated by the pollsment say it's motivated about caring about more americans dying. stuart: it's more than just benghazi. >> it is. stuart: and maybe the politicalization of it. >> what they get away with saying, because republicans oppose everything she's fighting for, such as affordable health care and
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equal pay. that's really saying they're doing this because they want people to be poor and sick and die, which is ridiculous to suggest that that's a motivation. stuart: but it works. >> but people fuelly see republicans as the ebenezer scrooge who want people-- maybe not want, but don't care if you get sick, die, are poor. stuart: she's appeared on "saturday night live." i thought she was quite funny imitating donald trump. >> she was. stuart: on the today show, righteous anger, look what they're doing to me. and now an ad bashing the republicans. is this bounceback time for hillary? >> i don't think because she's going to bounce in the other direction. this is a new thing that she's doing to try to be more relatable. when they have that question, q & a. do you like pumpkin spice lattes. i used to until i found how many calories in them and it came out a staffer planted that to make her more likeable. so there's a lot of things to
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make fun of her about, this was a bad move and like you're saying it wasn't just about one thing, it kind of advances this idea that republicans are heartless and politically motivated. talk about why you care about the issues. don't talk about you're doing to bring down hillary in a personal way. stuart: i'm waiting to see the next polls. if there will be a hillary bounce. i'm wondering, if the today show, "saturday night live" would make joe biden think about it. >> i think that joe biden wi will-- would get her. stuart: how about breakfast at mcdonald's, it goes nationwide today. this is part of mcdonald's turn around plan. is it a big deal? social media would have you
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believe, it's a big deal. breakfast all day, look at this. if you look at this purely as a financial deal for mcdonald's, doesn't it help their turn around plan? >> absolutely. stuart, mcdonald's can really use incremental revenue here, it's a high margin business. breakfast and things about the competition. dunkin' donuts has breakfast all day long, mcdonald's could eat their lunch. [laughter] >> it's big financially? >> yeah, any investor who is looking for a safe place to go for a stock, mcdonald's, mcd, over $100 a share, 3.6 dividends, you want to be in it. stuart: we walked into the production meeting, it's a big deal. they say all breakfast paul day at mcdonald's. >> yeah, and mcdonald's is hitting on all cylinders and they're introducing the cage-free egg which many consumers demand now that they know how often-- >> would it make a difference to the bottom line? that's the question. >> that will make a difference
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because the brand perception improves. the breakfast that helps top line and bottom line. stuart: put that stock up again, what was that? going to open at 101. last time we did a story on mcdonald's, a couple of days ago, it was at 97. are you kidding me? all day breakfast boosts the stock, helps to boost it up to 101. are you serious. ashley: love all day breakfast. >> it's a driver. stuart: you can't get hash browns for lunch or dinner nationwide. ashley: game over then. >> an mcgriddle. stuart: it's nine minutes past the hour, in 20 minutes' time the dow will open. we're looking at a small gain, remember, that follows a 500 point run-up on friday and monday of this week and last week. coming up, a divisive issue in california has just become the fifth state in the nation to allow terminal ill patients to end their lives. judge napitano here to make judgment on that one. and check this out, it's unusual play at the end of monday night football. let me see if i can get it
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right. detroit going for the go ahead touchdown. the player fumbles. the seahawks knock it out of the end zone, can't do that. should have been the lion's ball and the refs-- seattle seahawks win. did i get that right? >> stick with-- that's right. who didn't get it right were the referees. they blew it. stuart: this is a big deal, is it not? >> they were right on the half hard line. they would have probably scored and seattle got away with one. >> this is "varney & company." more big deals. so jill, i know the markets have taken a hit lately. mmm hmm. just wanted to touch base. we came to manage over $800 billion in assets,
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at sea directly in the path of the hurricane. and the coast guard says it sank near the bahamas in 1500 feet of water. and governor jerry brown has signed the right to die pill. you must be mentally sound. all right, judge napitano, as a libertarian, you are a libertarian, you would say you're in favor, you have no problem with that law, is that correct? >> well, my libertarian views clash with my catholic faith, in my case, traditional catholic faith, one has to put that adjective in these days, traditional or nontraditional because of problems with the catholic church. that's another story for another time, and i believe that life is a gift and should be accepted from the creator until the moment of natural death and i condemn the concept
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of killing life. the question is, is the government in a position to prevent an individual from taking their own life? is the government morally authorized to say to a sound mind individual, you shall suffer and you shall not alleviate that suffering with a life ending means and i don't trust the government to make that kind of a decision. in california the department of the has really intruded itself in the decision by saying, this person can take their own life, this person cannot. this person can assist, this person cannot. the law is very, very complex. it only exists for ten years, it's sort of a trial period. so, here is how complex it is. a physician can assist in mixing the cocktail, but cannot administer it to the patient. the patient must take the cocktail and drink it on his or
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her own. now, suppose they're paralyzed and they can't physically pick up the cup? there's no provision for that in the statute. as ashley pointed out during the break, the patient may not be depressed. well, if they're suffering horrificically and they know they're dying, chances are they are depressed and are making a decision to do this in conjunction with a physician whose ability to help them is severely limited by the statute in a state of depression. maria: . stuart: what about relatives of the dieing person who might wish to hasten the passing of that person for financial reasons? you have to address that. >> it's very interesting, you'll appreciate this and i'm glad you raised this. if you have a life insurance policy that does not kick in in the case of suicide, this type of physician-assisted suicide does not negate the life insurance policy. stuart: it doesn't negate it. >> correct. stuart: they'll get it.
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>> yes, yes. stuart: that's-- >> what are the results of that? that's going to result in life insurance companies leaving the largest market in the united states of america, california. in fact, stuart, half the statute is devoted to if you take your own life, it doesn't interfere with this contract and it didn't interfere with this financial application, it doesn't interfere with this insurance policy. >> you've got that wrong. if you can take your own life and you still get the life insurance payout. >> yes. >> why would that push insurance companies, life insurers out of the state. surely, that's good for business, isn't it? >> no, no, because it forces them to make out payments earlier than they would normally make the payments. and the money doesn't go to the person who is taking that life. it's a way of transferring wealth from the insurance carrier from the person's family before they're entitled to it. >> and that's the reason that
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insurance policies have an exception in them for suicide. you have a-- i won't use you as an example, so-and-so has an insurance policy and if so-and-so kill themselves and gets the 10 million, unless so-and-so is in california and kills himself in accordance with the california statutes. stuart: that's the worst possible situation, gives incentives for the relatives to collect. >> that's why this is troublesome. so, i can't say i support it. it's mish-mosh of political compromise intending to alleviate those suffering. stuart: entirely understandable. many of us in later life are faced with that kind of choice, that kind of decision for a loved one and it's exceptionally difficult and personal decision to make. >> where is this going to end up? in the supreme court of the
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united states. >> is that right. they've not passed on assisted suicide yet? >> it has, but this is a variant on it because remember, the physician cannot administer his own prescription, he can only prescribe the mix the cocktail and observe while the person administers it themselves. stuart: i'm glad you're here to straighten that out. >> it's a troublesome issue and i appreciate the delicateness with which you address it. and i don't get that on the show. stuart: there's no such word as delicateness. >> i know. stuart: an american airlines pilot died in the middle of a flight, the flight did land safely. can you imagine? bill o'reilly is here with his latest book, "killing reagan", in this present crisis,
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take over and make an emergency landing in syracuse, new york. the pilot identified as 57-year-old captain michael johnson. he was later pronounced dead. here is reaction from one of the passengers on the plane. >> if it wasn't for the co-pilot using a cool head, it might have been more disastrous. >> he with as a passenger on the plane. he didn't say whether or not he was aware of what was going on? >> obviously, the passengers knew something was not right. apparently one of the flight attendants said in a quivering voice we have a medical emergency and we're going to have to land at the nearest airport and the plane itself called in the medical emergency. 57-year-old michael johnson, he had a double bypass surgery back in 2006 and the autopsy shows death from natural diseases the way that the medical examiner put it and believe he had a heart attack.
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stuart: the passengers did not know. ashley: they knew he was gravely ill. and they were flying to the nearest airport and could only imagine what's going through their minds. stuart: yes. and the dow is off a gain, but now it looks like we're going to open higher again. many americans do not have $1,000 in savings. many do not have a savings account at all. this is a paycheck to paycheck economy, isn't it? .
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>> if the government morally authorized to say to a sound mind individual, you shall suffer and you shall not alleviate that suffering with a life ending means and i don't trust the government to make that kind of a decision. in california, the government has really intruded itself. stuart: i don't think napitano trusts any kind of government any time. ever. if you want to see this good stuff you've got to watch us at 9 a.m. eastern time, sharp. that's when we start. if you take a look now, you'll see a clapping, stamping,
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cheering, the bell is about to ring and that means we're about to start trading. remind everybody friday last week, combining with monday of this week, the dow jones industrial average went up over 500 points. that's not a bad rally. what are we going to see now? trading just began, what are we going to see? maybe a very slight move higher. i was going to say. please? all right. a very slight move lower, we're now down 9 points. look at that, 16,700. for more analysis we're joined by ashley webster. liz macdonald is with us and larry levin, we're coming off the 500 point rally. not bad. can we relax? . no, it's not larry, who do we have there? it's todd. stuart: i'm sorry. can we relax? >> good morning, stuart, look, here is what we have.
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800 point rally from the bottom on friday, this rally will not last, but it's built a lot on the thought that there might be a qe 4 coming. this is all built on artificial movement. stuart: wait, wait, wait. let me just jump right in there. qe-4, okay, that means quantitative easing, program number 4, that means that this talk to the fed is going to print a bunch more money, is that accurate? >> that is 100% accurate. they have totally run this into the ground. what we got for 4 trillion dollars, it's not enough. we've got a lousy jobs picture and the only possible scenario of why we're rallying here is because somebody thinks that the fed is going to institute another easing program. stuart: okay. >> well, we're rallying because the fed is not going to tighten in october, near owe a 0% chance. we'll have some form of
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tightening in early 2017. that's to do with the unemployment numbers. ashley: exactly right. you saw it mid morning session of friday, when all of a sudden that whole psyche of bad news is good news, because the fed going to push back, it's believed, a quarter percent rate hike and that's why we saw the gain on friday of 200 points and again yesterday liz: forget trying to time the market and going into cash when it's going haywire, right? >> now there's speculation of the federal reserve printing more money. >> it's so irritating. stuart: let's follow the big picture. i've got bank of america saying that the s&p 500 will not perform well. the s&p is down 3 points. i disagree. we've heard strategists that are really off base here. i mean, we've bottomed out. we're going to build and probably see s&p--
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not 2100, but 2050. stuart: we're going to build? >> absolutely. stuart: on the program, in the last two, three weeks, nobody has said this market is going up. >> we're past the seasonal-- >> you think we're past this? >> we're going into earnings and earnings are going to be strong, there's going to be a lot of positivity because that dollar is going to be very kind to the industrial companies and the big multi-nationals liz: and i hear some olive oil kind of grumbling like on popeye. stuart: the guy in chicago. >> i guess we're looking at a different picture. i don't see a lot of positive news coming out. we've heard a lot about housing this morning and the only people buying houses are the investment firms and the rental properties, we're not seeing ownership by the individuals buying new housing. i don't see it, retail sales, earnings are going to be a
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disaster. we've already placed in, but that might not be an effect in the market. the overall picture will not be good and we'll get the same excuse, too strong of a dollar, the earnings are bad. stuart: we put out there the possibility, rumor, speculation of more fed money printing and no rate hike this month and maybe not even in december. and by the way, the dow industrial has turned positive, we're now up 18 points. how about that. look at dupont, the ceo is stepping down just as the company cut its outlook for the future. and the speed of the restructuring plan. ash, was she pushed? >> i think so. i think the stock down 27% this year, although news of her retirement, we saw the stock go up in after hours trading. she got a standing ovation from the board when she managed to rip off nelson pelts when he tried to get some position on the board. to be honest with you, they're looking at $3 billion in cost
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cutting by the end of 2017 and restructuring, i don't think they're happy in the direction the company has been going under her. >> by the way, dupont is a dow stock and that's helping the overall average move to the upside. so the gain for the dow is really the gain for dupondupont cheerios, a recall for cheerios from general mills. nicole, the story please. nicole: 1.8 million boxes of cheerios, from general mills. cheerios, honey nut cheerios, recalling 1.8 million boxes produced back over the summer in july in california because some wheat may have gotten into these boxes. these are gluten-free cheerios and so now they're no longer gluten-free. not a big deal if you're just going on a gluten-free diet for more energy, but a very big deal if you have celiac disease or allergic to gluten.
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but so many people are moving to a gluten-free diet, miley cyrus, gweneth paltrow and even chelsea clinton had a gluten free wedding cake. stuart: now you know. moving swiftly along. how about microsoft? yeah, i do own some of that stock, not much, but i've got a little piece. ashley, i'm reliably told it's a big deal. ashley: they haven't bought out a high end windows firm for quite some time and fans of this brand are saying, come on, let's do it. the big one is windows 10 offered on the mobile devices so you're going to look at these and have the lumina 950 xl and 5.7 inch screen, one of the big ones, a 20 megapixel phones, that's one of the complaints, they don't have a really good camera on them. microsoft says that's going to change. stuart: what they're doing is, apple has what, this eco
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system, you buy one product and you lock in one product-- >> users of microsoft love their devices, because the ease of use between the devices. it's so easy to use microsoft devices interchangeably. stuart: here i am a shareholder of microsoft and i don't own microsoft products. what do you make of that? >> i tell you, just for the handset market, microsoft is nothing here, it's very hard to make money unless you're apple in hardware. stuart: i want to see the stock and see what happens after the revelation at 10:00. we'll take you there. microsoft, it's down today. moving along, breakfast all day at mcdonald's, goes nationwide today. can it really help turn things around? hillary kramer about a half hour ago on this program said, yes, it does help mcdonald's financially. make a case again, please? >> wall street loves it. the top liep line, and on the
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bottom line, high margin business. the competitors, you have dunkin' donuts, that's an issue and the small mom and pop business players. it will help bring business back to mcdonald'sment it's a cultural deal, all our youngsters on the program said this is huge, man, when you're at college and drunk the night before and you want to have-- >> and going to 7-eleven. it's a big deal for mcdonald's except they need the mcbiscuits not just mcmuffins across the board. it appeals to mcdonald's core base of commerce which felt alienated with different offerings. stuart: todd horowitz in chicago, is it a big deal that mcdonald's has breakfast all day and do you care? >> i'm loving it. for me, it's a big deal because i do like their breakfast and i can't-- i'm sorry, yes, i think it's a
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very big deal. stuart: the stock is at $101 is a share. how about amazon? this is an interesting story and it's working with more than a dozen appliance makers to intergrit that dash button. remember that? you order whatever household items you need and they appear magically that day, this is a big leap for what's called the internet of things. >> that's right, stuart, so, if you're pointing out at the break, this is futuristic stuff. looking at amazon dash and the wand you wave at products in the kitchen if you want to order, amazon immediately puts it in your mailbox. what they're doing is it ge and samsung and other manufacturers are building washing machines, they're building printers that will sense whether or not you need the product, maybe, you know, the laundry detergent or the kibble or toner and order it for you and then you get a message on your smart phone that your device, your washing
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machine ordered detergent for you. ashley: washington machine ordered for you. stuart: that's futuristic, i'm not going for that. i've got a number for you, it's important stuff. how about this, 62% of americans have less than $1,000 in their savings accounts and ashley. ashley: yes. stuart: 21% don't have any kind of savings account at all. ashley: nothing for any emergency at all. a similar survey from bankrate came out with the same numbers. and gen x-ers, a goose egg. 25% of millennials, and one in four baby boomers have no savings at all. stuart: what does that tell you? that's a paycheck to paycheck economy? >> but that's also why retail sales are doing well. consumer discretionaries, auto sales, people are out there and they're spending, they're not saving. now, that doesn't make it
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right. >> the pressure on the social security. stuart: they're spending what they've got and haven't got anything to save. what a rotten situation. check the big board. ten minutes in and we're up 41 points. a lot of that gain though, 30 points of that is accounted for by dupont. now, that's a narrow gain even without dupont. and an announcement, lauren simonetti, you know her on this program. oh, lovely, beautiful baby girl, ray vivian. healthy head of hair. >> she's been on the show already. >> that's right. congratulations, lauren, i don't expect to see you for some time. we welcome you back when you arrive. thanks, everybody. coming up, the g.o.p. that will be the republican party fumbles and the left runs with it. kevin mccarthy makes a big mistake when discussing hillary
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(announcer) at scottrade, we share your passion for trading. that's why we rebuilt scottrade elite from the ground up - including a proprietary momentum indicator that makes researching sectors and industries even easier. because at scottrade, our passion is to power yours. >> breaking news, there's going to be a press conference 11:30 eastern to announce charges for individuals in a wide ranging corruption scheme at the united nations. have you got details on this. ashley: former u.n. president john ash accused of accepting half a million in bribes, basically, you give me money, i'll make sure you get lucrative government contracts through the u.n. and some of the bribe money to pay for family vacations and construct a basketball court. and opened a bank account and
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underreported income by more than a million bucks. he was arrested today. stuart: more details at 11:30. thanks, ash. check the big board, please. we're up, a lot of this gain is accounted for by dupont, which is a dow stock, it's up significantly this morning. nonetheless, the dow is up 51 points and rising ever so slightly. have we got the container store, please, i understand they've got disappointing profits. and just take it out of these guys, don't they. disappointing profit, down you go, 9, 10%. the other side of the coin is, when you report higher profits, lower costs and demand, investigators like it like pepsi. not a high demand for 4 calorie soda, but pepsi is no longer that much of a soda company, is it? how about microsoft? it's holding a press event in manhattan rolling out new products including phones and tablets. jo ling kent is there with details. what have we got out of that
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meeting? >> stuart, the ceo of microsoft nadella just walked into the press event. two things on his plate. why microsoft spent 7.2 to buy nokia phones last year and prove why you should buy a windows phone for any reason other than the attractiveness of apple ap samsung. we're expecting to see three new lume yeah smart phones. one new surface tablet, an updated microsoft band fitness tracker and then a surprise of some kind, perhaps a xbox update or a virtual reality update, but analysts expect nadella to deploy the windows 10 mobile and hoping to get a million people on these devices. right now only 2.6% market share, very behind android and ios at apple. analysts are maintaining an
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outperform. the challenge for nadella is trying to gain a foot hold in the ever competitive landscape with apple and samsung firmly on the summit. take a look at the stock, down j us slightly as you head into this event. would you buy a microsoft windows phone? >> i'm a shareholder and i have ever intention to support the company i have a piece of. an admission by congressman kevin mccarthy could be a big mistake for the republicans. let's roll tape. >> everybody thought hillary clinton was unbeatable. right? but we put together a benghazi special committee, a select committee, what are her numbers today? her numbers are dropping, why? 'cause she's untrustable, but no one would have known any of that had happened, had we not fought and made that happen. stuart: there you go. he made the benghazi committee politicized a political cudgel,
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he suggested. not good. let's bring in megan mccain. >> thanks for having me. stuart: it seems like the republicans don't play politics well. >> i don't know that i'm going to give you that republicans don't play politics. it was cringe inducing, not ready for prime time, get off my television. the problem with benghazi, it's a legitimate scandal, many americans, especially men and women in the military want answered. >> if you're at speaker of the house and tell you it's simply a political cudgel. >> kevin mccarthy is dead to me now. he's handed hillary clinton has this ad. but hillary clinton, six out of ten, not likeable.
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dancing for grandma, she's on snl. stuart: she was funny. >> that's debatable and i say this has a former intern of snl so i-- i'm kidding, i just got coffee. throw that in there. stuart: you can't write off her attempts this week to get back in the game, be likeable and to beat up the republicans. >> she's trying, but if you're trying to be likeable, you have a problem. since july, she has dropped the female vote by 30 points, since july, she is a bleeding female voters because she's untrustworthy, this whole thing is a red herring to take away from the e-mail scandals. for our audience, it's a powerful ad and gone right at the republicans. >> did i not say that kevin mccarthy is dead to me and this is an ad for her. >> and when your bleeding women voter the way she's doing as a female candidate for president and the way she's doing, it's hard times. she's trying and spinning and dancing going on the tv show,
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interviews with lena dunham, she's trying. likability factor, six out of ten americans don't like you. she's in trouble. stuart: meg mccain. and in south carolina, dams are breaching and residents are still being evacuated. we're live on the scene next. join us as we celebrate eddie's retirement, and start planning your own.
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>> apple suppliers, sky work solutio solutions, going to buy pmc sierra. goes up 33%. no surprise. now , the historic flooding in south carolina continues, people have had to evacuate. jonathan serrie is there, and has taken the brunt of the storm. >> right now the issue is the dams. even though the rain has stopped and the flood waters appear to be receding, some of the rivers are still rising and that's putting quite a bit of pressure on the dams. as we speak, authorities are out at what's called the windsor dam and they're saying
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it's not an actual breach, but cleaning a close eye on it at that time. with all of this added pressure from the rising rivers, that increases a risk of more dam breaks. residents have learned all too quickly how fast the water can rise after a breach. a few days ago eugenie parker woke to the sound of a flood alert on other smart phone and within minutes rose from the downstairs lel of her home to the first floor. our neighbors helped us get o out. we're out and we're safe and our dogs are safe. so-- >> back to our live shot, stuart. this is forest drive. you can see it suffered some heavy damage when the nearby creek overflowed during the flooding and even though the flood waters have receded, you can see plenty of damages from the businesses behind me. stuart, back to you. stuart: jonathan serrie, thank
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you. by the way, five people drown in their cars in columbia, south carolina. here is what's next for you, flu shots big business. everyone is telling you to get one. dr. mark siegel wants to give one to me, i remain-- and bill o'reilly with his book. two minutes away. active management can seek to outperform. that's the power of active management. technology empowers us it pushes us to go further. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or information to track their personal best.
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estate mobiling and other people for government contracts. there's news at 11:00 eastern. and donald trump former reagan economic survivor is with us. he met personally with donald trump. all right, art, welcome back to the show. are you allowed to tell us what you discussed with donald trump and what you thought of him? >> well, what he said, obviously i'm not allowed to say and that's his prerogative. i think he's a very impressive man. i think he's got it all together and is very normal. i love some of the things that he has said. i mean when he said i'm rich, and i'm not ashamed of it, i think that juxtaposes beautiful with romney. everyone wants their kids to be rich and successful and i think donald trump has something to be able to do something on that by the. i've all these known his partners, ge especially, jack welsh was on a competitor station this past weekend and spoke very highly of trump and
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his business that he gets things done. and, you know, if you look at trump, he's a very serious candidate and i think all these people are trying to trivialize him are making a huge mistake, they're really under estimating him. stuart: how about the tax plan? that stood out to me, we're a financial program, we deal with the economy and markets and money. he had a tax plan that sound to me reaganesque. how did it sound to you? >> it sounded great to me. 25% maximum tax on income, 15% on corporate taxes. you know, you have a -- you have all sorts of wonderful things in his proposal. i would tweak it this, that, or the other, but bottom line it's as good as any proposal out there today and all the republicans, by the way, are reading from the same, which i'm very grateful for. they're all for lower tax rates, broadening the tax base.
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when you look at someone like trump who has been paying taxes all of his life and tries to minimize the tax bill and knows all the loopholes, et cetera, and he knows how to close them. you know that's a very credible statement. most politicians don't have any idea on what's going on in the tax code. stuart: did he say anything specific about which loopholes he would close? which deductions he would disallow? because that's a very important part of his plan, and he has not revealed the detail. >> not all of them, but he has revealed some. for example, carried interest, not treat that separately and probably correct on that as well. when he talks about deductions, i think he has made it very clear he's going to keep the home mortgage deduction, which is the correct thing to do. personal contribution, i think he also has said he's going to maintain. so there's some of these that he has said. stuart: not much left, though, is there. >> no. and, you know, he's got a staff there, a pretty good staff that are working on
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this and trying to get it. the one thing he did say to me, i can repeat, he said i'm not stuck in stone. i'm perfectly willing if there's a better idea to come alone to change my plan to make it better. and he's made that part of his thesis all the way through that he did support acis and single payer, and he saw how awful it was and changed his mind. i wish i could get to hillary change her mind. stuart: you should have seen me when i was 18 years old. change my mind couldn't when you see new facts, stuart, you should change your mind. stuart: i was a socialist for many, many years, and in india at the time, and i got on a plane and went to hong kong, and i saw free market capitalism. like that, convert overnight. >> it's amazing how evidence does that. it's amazing. stuart: quick one for you. >> sure. stuart: former fed chairman ben bernanke, he joined maria
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this morning on this program. just listen to what he had to say. >> oh, boy. >> you need to have market discipline and all of that but in the middle of the most intense financial crisis in the history of united states, maybe the history of the world, we had to do whatever we could to keep the system from falling apart. stuart: acceptability this is why we bailed the banks out. do you want to comment on that. >> yeah. he's wrong. breaking his arm patting himself on the back. he's part of the reason we've had the longest recession in the history and no real recovery except population growth. i think the quantitative easing one, two, and three, and the trying to switch the maturity yields of the feds balance sheet are all really mistakes and i think stimulus spending was a huge mistake. straight from the playbook, and it is the reason why we have the very, very bad rove we have today, and it's exactly the same stuff they did in the 1930s. the only thing these guys
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missed be able to do, stuart, thank god they missed it. they weren't able to do the tax increases the way roosevelt did. we raised taxes but nothing like the '30s. stuart: where's paul when you need him. >> i know paul it spectacular. and george schultz. what wonderful people when you want prosperity. and kennedy. stuart: on and on and on. >> a great group of people. stuart: pleasure to have you on the program. >> thank you very much in my opinion pleasure. stuart: look if he dow jones industrial average, up 40 odd points, much of that gain is the result of dupont, which is up today. the ceo is stepping down and the stock is up. look. 10%. that's a huge gain for a dow jones average stock. that is putting the floor essentially under the dow at the moment. higher profits at pepsi, lower costs, better demand in some aspects of their business and that stock is up 1.7%, 97 on
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pepsi. how about the price of oil? still in the $4 $40 a barrel range, not much change in a month and gasoline, $2.97 the national average. and check the big board. up 49 points, two stocks in the news today. mcdonald's with their all-day breakfast and microsoft, which right now is announcing big presentation, got all kinds of new products on the market. mike smith is with me. i want your judgment on those two stocks. first of all, mcdonald's. all day breakfast. i'm told that this is actually a big deal financially for mcdonald's. is it? >> well, i enjoy all-day breakfast, and i think it's an interesting way to gain some attention in the marketplace and get some attraction in sales comps. but i think it's going to be a very tough road for them, so it's a nice experiment, but i'm not really sure it will
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have much attraction. stuart: yeah, i'm asking you. a financial question really. because a lot of people are talking about it, you know, breakfast all day. >> right. stuart: and it's a big deal, but i just don't feel it's that big of deal financially for mcdonald's. >> i would agree. there arthey're a very large global economy, they have markets emerging as well as develop, and you've seen a lot of weakness there. stuart: got up to 102, look at that. $102 a share. >> it has had a nice run. stuart: i want to talk about microsoft. i think that's a far more important story and, yes, i do own some microsoft stock. got new products coming out, and they want to put windows 10 on all their mobile platforms. you think that's a good idea? good deal? >> i think it's a good idea. i think they're trying to attack the marketplace. android and apple are very d dominant in that space, and they're behind the tail, so they're trying to gain some
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traction. one of the things that i think is an exciting opportunity for investors right now is there's an spunte to invest in small cap public focus companies that have u.s. exposure and there's a lot of nice growth opportunities. stuart: walk away from mcdonald's, walk away from microsoft and go with a much smaller companies for growth opportunities? >> i think there's much better growth opportunities there. you're primarily relying on the domestic consumer, the consumer's confident, you see the oil prices peek over a year ago. that mine's going to go in the consumer's pocket and i think benefit them. one of the names we like in our portfolio is patrick industries, they make components that go into kitchen cabinets and moldinglies. stuart: you own it? >> i own it, the stock's up 30% this year but still very cheap, selling at 12 times earnings, and we think they have a lot of growth industry . stuart: patrick industries. stock symbol? >> patk. stuart: i should have known. thank you we appreciate that.
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>> good to be here. stuart: okay. the cargo vessel, called el faro, went missing during hurricane joaquin. believed to have suffered a mechanical failure. now, the company that owned the ship said it planned to skirt the storm, go around it but it couldn't because of the engine problem. the engine was then left floating at sea directly into the path of the hurricane. the coast guard said it sank in the bahamas at about 15,000 feet of water. >> a long way down. stuart: it sure is. what a terrible thing that is. >> yeah. stuart: how about general mills. the company says its recalling 1.8 million boxes of cheerios and honey nut cheerios. due to that incident, it may have wheat products in those cheerio boxes, but it's labeled gluten free, so it's not gluten free, so they are recalling the lot. 1.8million boxes. the stock down 1%.
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all right. flu season. well, i should say starting again. a lot of people running out to get the flu stocks. medical a team dr. marc siegel is here and he's going to tell me yet again for the umpteen year in a row why i should get one. >> at least i didn't bring one. normally i bring one here. stuart: should we remind everyone? you wanted me to get a flu shot and put some factory stuff in my arm that's only 23% effective, what do you have this year? >> number one. the new study that pneumonia is the culprit and the flu shut can you tell us down the risk of pneumonia. and this year they have the strain that they missed last year. it was a mutated influenza a, this is the kind that kills, stuart. they have it in their sights, covered in the vaccine, anticipating another bad flu
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season this year and that means 60, 70% decreased risk that you will have to go to the doctor if you get the flu. you'll have a much milder case. this is the year to get it. you'll get it and everyone around you is protected, by the way,. stuart: even if it's -- they've got the right flu strain this time, only 60% effective, and i may still get the flu but it will be a lesser version thereof. that's a rotten sales job you're doing there. >> well, look, if you get a -- the worse version, you get all kinds of other diseases. that's my point. you can have pneumonia, bronchitis, a heart attack, over 100,000 hospitalized every year. that you want flu shot so that you'll miss the flu entirely or have a mild version. here's my best sales pitch. if you get the flu shot, you're protecting someone around you who has a disease or elderly person or pregnant woman. you want everyone around pregnant women to get a flu shot because you do not want
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flu to enter into a pregnant woman's house or elderly person's house. everyone should get a shot to protect the elderly. stuart: okay. done? >> am i out of time? . stuart: i'm not convinced. i listen to you, and our audience does too. that's as far as it goes. >> i'll give him on the show if you write in and say stuart varney should get a flu shot. stuart: you weren't allowed to do it but you did it. this may be a game changer for fantasy sports. listen to this. an employee one of the biggest fantasy sports websites accused of using insider information to win hundreds of thousands of dollars. question. is regulation coming?
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call to report any suspected fraud. we're cracking down on medicare fraud. let's make medicare stronger for all of us. stuart: interest perked up on this one. yankee ticket prices have hit a new low for wild card games. now, tickets for the one-game playoff listed for an average at the yankees, $180. that's 40% lower than the
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average for national league wild card game. look who's here, fox news radio jared. now, what do you make of this? 40% lower and a one-off game. >> yeah. what comes to mind is the new york yankees, we've gotten a little fat on winning. the yankees won several world championships from 1996 until 2000. they won four at that point and then again in 2009. stuart: i think the audience people are moving away from baseball, less interest in baseball, no? >> not themes i saw some interesting polling information, stuart, which found that the chicago cubs are the team that most americans want to see win the world series. they haven't done it since 1908 and the yankees are second. interestingly enough the cubs get the democrat vote and the republican vote most are in favor of the yankees. stuart: is that right? >> yes. stuart: i did not that know. >> yeah. just going out from a public policy polling.
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stuart: i've got to get to the fantasy scandal. a guy works for one of the fantasy leagues, wins $350,000 playing fantasy football. >> with the other. stuart: with the other league, and the allegation is that he used inside information to make that win. if that's accurate, what are the consequences of this? >> i think the consequences are as a fan, as a fantasy player, there becomes questioning of integrity of the game. the last thing we want in sports is to believe that any funny business is taking place. same thing if you play in the stock market, you don't want to know about insider trading going on, how come these guys have the opportunity to make all the money and i didn't but, again, it comes down to the integrity and there's so much money at stake. stuart: ashley, you reported that by 2020, $14 billion. >> $14 billion in fantasy
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football. >> well, it's now, now considered gambling, it's gaming right now; right? >> right. and that was technically -- there was a 2006 law long before daily fantasy sports which we spoke about a few weeks ago, candy cigarettes that they're selling but really the real thing. stuart: well, it's considered a game of skill. >> skill, yes. stuart: but you're saying it's nothing. most people would agree it's a game of chance, gamble, and therefore should be regulated as a gambling operation. is that where we're heading? >> i strongly believe so. the last time we spoke, within hours new jersey said they want to get together to bring legislation to regulate this because i think everyone and his mother can see through what's really going on here. it's a fun time for -- there's a lot of money at stake there's billions ask billions of dollars but i believe regulation to this is going. in fact, both companies last night. fanduel and draft kings
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temporarily barred their employees from taking part in any other fantasy sports leagues, which is great to see. because i mentioned in 2009 i met with the commissioners of all the professional sports leagues and asked each one how do you feel about players in your league taking part in fantasy sports leagues for money? and nobody seemed to -- nobody had a problem but it also seemed as if why should i be concerned? . stuart: now you know. >> now we know. stuart: bad pr. all right. with all garrett, a pleasure. we'll see you real soon. thank you. up next mcdonald's kicks off the old egg breakfast. not sure how pistol. and bill o'reilly with us, got a new book all about one of the heroes. ronald reagan. >> in this present crisis, government is not the solution to our problem. government is the problem.
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>> it is cringing inducing, my jaw dropped, what is he thinking? not ready for prime time. get off my television. you're making it so much worse. the problem with benghazi, it's a very legitimate scandal that many americans, especially men and women in the military wantans. for ambassador stevens dying, for the four americans, it's very legitimate. stuart: all right. you heard her there. megan mccain, fox news contributor making her "varney & company" debut and clearly sounding off on congressman mccarthy. by the way, goldberg joins us shortly. we'll have him what he thinks of republicans giving hillary clinton ammunition for a new attack ad which, by the way, appeared today. been o'reilly on the show too. he's going to talk about ronald reagan. how close was the president to dying after he was shot? o'reilly has the answers five minutes from now. and, by the way, the dow
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industrials have lost much of their early gain but still up 17 points. by the way, freeport says its reviewing strategic options for its oil and gas business. investors like it. up 4%. and, please, look at exact sciences. got a cancer test, disappointing generating from the national review board, down 41%. so as of today, you can get mcdonald's breakfast all day long all over the country. from the media coverage, this is getting you would think it was the biggest news since the iphone. we started our show production meeting at 6:15 this morning. i was immediately set upon by our 30 somethings. mcdonald's breakfast all day long? biggest story of the day. lead the show with it? why i asked. well, it's mcdonald's get back in the action program. the turn around plan. fewer calories at breakfast foods, so young women will
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love it. hung over college students need that egg mcmuffin when they get up at lunchtime. it's a huge deal and most important it's trending they said. okay. i get it. but let's not allow social media to run away with sound financial analysis. mcdonald's has been on the rocks recently, and it does need help and maybe breakfast all day long will help a little. but investors will be far more interested in how it responds to a much higher minimum wage. that's a challenge. how it responds to the demand for fresh food and how it will put the fast back into fast food. and keep prices competitive. that's the mcdonald's turn around story surely. don't get me wrong. i am a mcdonald's customer, and i think breakfast at noon is just fine. one disappointment. you can't get hash browns all day everywhere. turns out the deep fryers don't make financial sense outside normal breakfast hours. got it?
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stuart: next hour, jeff flock will be at mcdonald's for breakfast. make sure you get a hashed out after 10:30 a.m. bill o'reilly. a new book. killing reagan. thank you for being here. in the book, you describe how close is a bit ragged was after he was shot. he was really close. >> the doctors did not know if he was going to get off the gurney when they wheeled him into the operating room. that is how close he was. we put you right in the room as we always do. the doctors were extremely agitated. they pulled him through because he was so physically fit. a harrowing harrowing part of the book.
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stuart: you also say that there were secret meetings held. his mental decline. we were not aware of that. these meetings actually took place? >> sure. after reagan was shot, he made a startling recovery, or so it seemed. he was cracking wise. the president is okay. he is back. then the recovery process began. what happened was, he was 70 when he was shot. any human being experiencing a trauma at that age is going to have residual damage. the advisors were obviously hoping for the best. reagan had his good days and his bad days. on his good days, he was
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brilliant. much smarter then the american people thought he was. on his bad days, he could not even come down the oval office. nancy was handling all the personal stuff. you could not see reagan. an enormous amount of power. guys from california. then what happened was after he was real like did, with the help of our boss, that is a really powerful part of the book, he was foundering reagan. there was a reason for it. not always sharply focused mentally. they investigated reagan state of mind.
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it came to the point where they were discussing actually removing him. he met an unbelievable comeback. that is part of the drama. i think that it is sheer wealth. overcoming all of this terrible trauma that he experienced. stuart: wonderful. >> they have all been number one. killing reagan opens as number one. we are real happy. i think that people will like it. >> congratulations, bill. >> thank you. appreciate it. hillary comes out swinging international tv ad. some people say that the gop is
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fumbling. >> everybody thought that hillary clinton was unbeatable. what are her numbers today? her numbers are dropping. no one would have known anything had happened had we not fought and made that happen. stuart: the gentleman that wants to be the speaker of the house. beating up hillary clinton. the committee was politicized. joining me now. senior editorial. one of the premises that we have been discussing this morning is the republicans just do not do politics. and if politically. you would agree with that. >> really, the republicans are just opening the door for an
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attack from hillary clinton. she has her first national tv out. >> the footage they are of kevin mccarthy on hannity, the equivalent of one of those seas from america's funniest home videos. you know, injuring his crotch on bicycle handlebars. it is just so painful to watch. [laughter] >> please. you are killing me here. >> i am not here all the time. stuart: what is it about republicans? >> i have a long theory about this. i do not -- part of it is because republicans are normal people. republicans take -- the average
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republican is he is successful in the community. promoting these guys. successful in their community. successful in their families. hillary clinton did her college thesis, a whole life is politics. they just take it so much more seriously than republicans do. terribly as politicians. stuart: conventional politicians in the republican race are not doing as well. total outsiders. that explains it. >> republican parties. >> i think that it is a big part of it. a little bit of a different creature. out of entertainment.
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he has walked off the set of a reality show. the rule does not apply to him. he follows the rules of entertainment gravity. i do think that it is true. if you are simply a governor, you could claim can claim you were an outside watchman. the animosity is so strong. even governors now count as sort of the machine. stuart: you welcome back, will you not? >> i watch you all the time on special report. >> i am happy to talk about mcdonald's breakfast. >> wait, wait. what do you mean? >> i understand that you think that it is a bad idea. >> i just do not think that it is a turnaround plan for
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mcdonald's. all right. maybe you welcome back. thank you. much obliged. it is sector report time. cheryl is with us. >> honestly. mvp of fair, stuart. looking at the stock today. this big event that they are having. they are really trying to compete with apple. i thought what we would do is look at all the stocks and compare apple, not apple -- there we go. user error. back to you. apple is down. microsoft is up. >> the last sector report was about microsoft.
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♪ hi, tom. hey, how's the college visit? you remembered. it's good. does it make the short list? you remembered that too. yea, i'm afraid so. knowing our clients personally is what we do. it's okay. this is what we've been planning for. thanks, bye. and with over 13,000 financial advisors, we do it a lot. it's why edward jones is the big company that doesn't act that way. nicole: i am to call petallides. the s&p 500 going to six days in a row. we have not seen that since june
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june 2014. the s&p is pulling back. certainly being held up by dupont. the 10 year bond. looking at the dow components. dupont of 10 and a half percent. well on the heels. burke, pepsi. quarterly numbers. beverage sales in north america rose 4%. and up arrow for that. tesla. a little bit of pressure. fox business
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>> we have looked into it. 25 million middle-class families also living a check to paycheck. instead, what the surveys are finding is they are over expecting. eating in restaurants a lot. they are tapping their 401(k) or credit cards. >> we want people to spend for the economy's sake. >> no savings. not facing any of emergencies. they are not prepared. stuart: one study here. bank rates and google. almost identical numbers. >> rookies and centra. >> all confirming the same thing. good. let's get to hillary clinton.
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she was trying to reinvent the public image. came out swinging in a first political ad. all right. an assist from the republicans. doesn't that assist and maybe that boosts for hillary, doesn't it make it harder to show biden? >> i think what he actually thinks. in attempt to hurt hillary's poll numbers or public image. it gives an opportunity to beat back what people have said. the investigations, the e-mails. you know what, i am here. i am talking about my e-mails. i am forthcoming about it. stuart: yes. i think she did well on saturday
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night live. i think she came across as funny. she was having that righteous anger when she appeared on the today show. now, this hard-hitting political ad. this is a opportunity for hillary to bounce. that complicates joe biden's decision on whether he runs or not. getting together with his family. i think hillary will feature very prominently in that decision. >> absolutely. i totally agree. he would actually pull more from clinton then from an old ballet run. clinton is looking very strong. the two places people have thought that she was foldable. on personal. in the last week, she has come out aggressive on both of those
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things. this is very late for a presidential candidate to be jumping in. >> we are told that he is leaning towards running. that is all speculation. would you like to see him run? you have 10 seconds. >> the people in washington love background more than innuendo. [laughter] stuart: you want joe biden to run? >> i think it would make for an interesting run, but it is too late in the game. stuart: thank you. it is that time of year. it is getting colder. get out there and get that flu shot. i, personally, am not convinced. 23% effective. you wanted me to put some factory stuff into my arms when it is only 23% of fact if.
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>> there is a new study. it cuts down your risk of ammonia. this is the kind that kills. stuart: we are told that share will be 60% effective. 79 million doses will be distributed this year. i think, i want my immune system to proceed nationally against the flu. stuart: up next. watch out. donald trump.
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>> donald trump still holds a 5% lead. that has been backfired by a string of 28 straight national poll wins. however, trump has dropped from his eyes last month. carson is the one on top and now paul. it does have a bit of a small sample size. seven points clear of trump. he was not going to get too excited. >> the key thing is you are getting out there and talking to people. they are getting an opportunity to hear you. what kind of a person you are.
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that is what is making the difference. >> missing the suggestions about stepping aside. back to you. stuart: thank you so much. >> we have a full two hours of varney and company now in the books. we have more for you just minutes away. don't go away. >> part of the reasons. we have had no real recovery whatsoever except population growth. >> to me, it is the equivalent. a guy ends up injuring his crotch on a bicycle handlebar. if you're an adult
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with type 2 diabetes and your a1c is not at goal with certain diabetes pills or daily insulin, your doctor may be talking about adding medication to help lower your a1c. ask your doctor if adding once-a-week tanzeum is right for you. once-a-week tanzeum is an injectable prescription medicine that may improve blood sugar in adults with type 2 diabetes, along with diet and exercise. once-a-week tanzeum works by helping your body release its own natural insulin when it's needed. tanzeum is not recommended as the first medicine to treat diabetes or in people with severe stomach or intestinal problems. tanzeum is not insulin. it is not used to treat type 1 diabetes or diabetic ketoacidosis, and has not been studied with mealtime insulin. do not take tanzeum if you or your family have a history of medullary thyroid cancer or multiple endocrine neoplasia syndrome type 2, or if you're allergic to tanzeum or any of its ingredients. stop using tanzeum and call your doctor right away if you experience symptoms of a serious allergic reaction which may include itching, rash, or difficulty breathing;
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not very good at politics. in washington, a series of mistakes. they are playing defense. the democrats see their uploaded floundering and they have a sharp edged attack. kevin connelly got the ball rolling. linked to the benghazi hearings. that was a bad move. trying to walk it back. the damage was done. he had revealed what appeared to be a political motive. all that work on how americans died now dismissed. next came the hearing on planned parenthood. the americans want to defined. the men browbeating the woman who runs planned parenthood. she won the optics. now, hillary clinton has produced her first national tv ad. on saturday night live, she appeared funny. on the today show, she so
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righteous anger. she has successfully bounced off republicans. they opened the door and hillary clinton walked right on in. this is one more reason behind the republican party retreat from republican politicians. they are not the product. they are running from it. the republican party is itself pushing republican voters away from so many other republican parties all candidates. that is exactly what is happening. ♪ a british isis sympathizer has published a home address of former navy seal and osama bin laden shooter. it has been re- shared all over social media.
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concerned veterans for america is with us. it is just getting detailed now. >> this is exactly what terrorists do. here is a guy that is pulling the trigger. we want to find him. we would love to do what we can to take him out. he is dedicated for what he has done to this country. he will take the necessary precautions. this is by definition careless. they will floated out. stuart: a defensive posture. waiting for them to have a go at us. they are not if. that is the way it seems to me as a nonmilitary guy and a nonpolitical guy. >> that is the way it seems because that is the way it is.
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coining money and establishing the state. we are basically stepping back. doing nothing to fundamentally alter the conditions on the ground. they feel like they are more legitimate. they are solidifying their support. with a beating heart of terrorism continues to beat and expand, it only empowers people to do more and more. changing the dynamic. stuart: you are a military guy. you want to put boots on the ground. you want to do that. >> you have to do what is necessary to actually defeat isis. it is war. they hide in hospitals. they hide among civilians. they exploit the population. how many people fail.
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inevitably war is a difficult business. we are going to allow these barbarians to perpetuate himself, we will live with the consequences time again. i would start by presenting an iranian bomb. then you can start some even better deals with in-flight isis. stuart: leading republican candidates. doing whatever it takes. doing whatever it takes to beat them and use our military to do it. >> i think that it is certainly a delectable in the primary. the lack of american leadership. forceful assertion. being caught up in hundreds of thousands. that is not what anyone is talking about here. the right place at the right time. how do you do it, that is a whole another question.
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people want to see strength. stuart: thank you very much for joining us. this story develops with rob o'neill. the rain has stopped in south carolina. more flooding and more even our qa's and spirit making its way to the coast. at least 10 deaths in south carolina. that includes five people who drowned in their cars in columbia. south carolina state capitol. >> this is water that is sitting in this state. the lower dam has breached, the lower dam has not. we have reports of looting today. people are finally getting back into their homes and their finding that their possessions have been stolen. everyone is being told to boil their water.
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if you made ice in your freezer before the storm, throw out your eyes. it is a health issue. the rain has now dissipated. if these dams were to breach, a mass of water is released. you have more flooding. >> you have homes in jeopardy. potentially it lives as well. the thousand year is that. that water, hurricane hit a coastal area and they are gone. what is happening is that the water is sitting. continuing to potentially breach. you have a whole another scary situation. >> one area. just north of charleston. 26 inches of rain. all right.
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it is not over. thank you, everyone. take a look at the dow jones industrial average. it is getting help from dupont. the ceo alan kuhlman is stepping down. that is helping the dow. the dow will be basically flat. >> up nearly $2 now. $48 a barrel. opec suggesting that they may be getting together with nonmembers. they say oil investments have brought up production levels. all of this is starting to put the floor on the oil. that is why we are seeing this. stuart: when oil goes up, stocks tend to go up to. lower costs. higher demand.
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up goes the stock. an updated fitness band and the surface tablet has become a three and a half billion dollar business. look at that. i do own some microsoft stock. a tad herein they are. let's get to owner and president. you see more wild swings in this market. is that correct? >> yes, we do. i think it is best to start taking a look at what has happened over friday and monday. midsummer we started a lot of volatility in the market. 300 points one day. the hundred points another day. we marked the third quarter in a row.
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stuart: okay. >> -- stuart: i have to ask you the same question. if you are about to retire, should you just get out of some stocks inputted into dividend yielding stocks? without the your advice? >> absolutely. you really need to start looking at whether your money is for performance base or if it is purpose. you plan on living on retirement. volatility has never really been a friend of income. it really is an income killer. if you are a saver or you are a person that is sitting very close to retirement, these markets really are not your friend. stuart: you have answered in
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exactly the same way as all the other analysts on the show. a possible downside bias. you are in that position where you do not want any risk. get out of those stocks. sleep well at night. you agree with everybody else. i have a lot going on. come back again soon. thank you very much. >> no problem. thank you. governor gerri brown. though right to die law. now, legal. we discussed the objections to that. that will be next. awe believe active management can protect capital long term.
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like. the stock is up early today. stock is up 102. gerri brown signs the right to die bill. california becomes the fifth state. mentally sound. not depressed. not impaired. the director of the african american. do you oppose california's right to die law? explain why. >> also practically we have a fast food society. you can fix it. the bible does show us this.
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we have the ability to do that. running over our face. we just need to feel relief. we need to have permission to leave. people used to know how to do that. we can pray with the people. tell people how not to be fearful or cheerful. certainly something to eliminate pain in their lives. a very spiritual connection that connects you in a way that you can slip out of the life without all the stress and distress. >> one detail which i want to raise in the california law. if you have a life insurance policy and you have a doctor assisted, i'm not going to say suicide, but you pass with doctors assistance, it still pays. >> you did not commit suicide.
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you did not kill yourself. somebody else did. >> putting pressure on the person that is about to pass. let's do this thing. we will get the insurance money. it is horrible to put it like that. >> you think anyway. you are old anyway. it takes away the compassion that should be at the end of life. you are used to me saying that. what about the sick people. what about the elderly people. it allows some kind of process that will collect the insurance policy. it is just very inhumane. >> i do want to get your take on this. in providence, rhode island,
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dunkin' donuts is apologizing after one of its employees roll plaque lives matters on a police officers coffee cup. what say you? >> that is very provocative. suppose about was a lawsuit. the company would be in trouble. all lives matter because god's love matters. barring king junior said we must be together as brothers and sisters. being inflammatory will not solve the problem. >> what about politicians to say black lives matter, why white lives matter, all lives matter. martin o'malley was forced to apologize because he did not just leave it at lock lives matter. what do you think about that?
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>> i have been confronted as well. i say black lives matter. all lives matter. john three: sixteen matters. for god so loved everybody. i was born into a preacher's family. stuart: all be picking. it is a pleasure to have you on the program today. please do not be a stranger. >> i welcome back. they do. stuart: the feds come out with a study on a legal park in colorado. marijuana traffic related deaths up. more stats after this. at ally bank no branches equals great rates. it's a fact. kind of like ordering wine equals pretending to know wine. pinot noir, which means peanut of the night.
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stuart: how about this. morgan stanley has cut its price target for the stock tesla. it could hurt sales and is down $7. 239. we have a new report that shows the downside of legalizing marijuana. cheryl has been looking into this. >> this is really interesting. a nonpartisan. we will give you the numbers. you can decide.
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2014 after marijuana was legalized, traffic deaths increased. er visits up 29%. hospitalizations up 38%. poison calls up 72%. >> all of these factors. every single staff that you just mentioned directly related to the use of marijuana. >> absolutely. they wanted to find a blue print to show the rest of the country. it is affecting the state. look at the college-age rate. colorado teens are now number three in the nation. number three in the nation.
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also, number two in the nation. the edible, that kind of stuff, they found it to be more potent. the human body. stuart: you do not know the dosage, do you. chocolate that contains marijuana. spreading out throughout the chocolate heart. you have taken in quite a lot. >> poison control. 40% of the marijuana consumed in colorado is actually in edibles. >> that is right. who would have thought that? >> there is a downside. >> thank you. >> updating another story for you.
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it went into almost impossible. into the sea. heading to jacksonville as we speak. looking at the dupree. the search and rescue goes on. they want to look at the debris. the big problem is it is a very wide debris field. 15,000 feet down. >> they say that the chances are we will never find the ship because of the depth. 790-foot cargo boat. it is a huge boat. i just think about the state of
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mind of the crew members. >> shear terror. stuart: knowing that they could not maneuver the boat. that is just sheer terror. i will break into breaking news. and update from microsoft. it is made and produced by microsoft. the first time that has happened ever. that is just coming out. we have this big meeting in manhattan, new york right now. the stock is up. a brand new microsoft made laptop. >> surface both. you got it. >> apple. they are going up. they are going after apple. stuart: all day breakfast. we keep going on about this. >> we do. stuart: not me. everybody else.
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stuart: all day long we have been discussing all-day breakfast at mcdonald's. i don't know why we've spent so much time on it but apparently it's a grave importance both investors and the culture. >> the issue of the day. stuart: been the issue of the day. look at this. i want to bring in the author of what great brands do. a popular guest on this program and branding expert. welcome back. >> thanks, stuart,. stuart: so how's this for a question. do you think that all-day breakfast is having any role whatsoever in turning mcdonald's around? >> well, certainly they will benefit from the buzz of being created but after the buzz areas off, after the novelty wears off, it's unlikely it will change their business, which they really need to do. stuart: but i'm told breakfast is a high margin error, breakfast food is localery, so it appeals to women, breakfast food all day long will bring in the masses, bring them back to mcdonald's. you're not buying that.
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>> here the problem. first of all, they're not making the entire breakfast menu available. so in certain locations you can get a mcmuffin and other locations you get a biscuit. neither one you can get hash browns. so all of this buzz and hype that they're planning now is going to end up disappointing people when they go into the restaurant and they can't get the items they want. that's problem number one. the second problem is breakfast all day is not a big deal. starbucks serves breakfast all day, sonic, jack in the box, they've been serving it for quite a while now. so it may be news that mcdonald's is so big but not really big news. stuart: stay there for just a second, please, i've got jeff flock at a mcdonald's in oak broooakbrook, illinois. jeff, here's the question. it's 11:32 that means it's 10:32 where you are, i know
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you can still get breakfast where you are, but a hash brown? >> you can get a hash brown here. i just talked to the chief officer who said we've been listening to you. 87% of the locations you can get hash browns. it's karen king actually with mcdonald's. stuart is upset, though, that he can't get his mcgriddle and i said it's bad for him anyway. >> actually it's our customer favorites, not now but maybe soon. stuart: so, stuart, not now but maybe soon. and i'll show you something. they've got new equipment to cook off hours, cook the eggs and here normally the burgers. so in a lot of restaurants you can get pretty much all of the menu with, you know, some exceptions. but you can't get your mcgriddle yet. i'm sorry. stuart: all right, jeff, i know you're going to be there scarfing up that egg mcmuffin or whatever it is. we'll be back shortly. and here's a branding expert, somebody who knows who he's talking about.
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denise, come back in, again, please. wouldn't it be better if you wanted to rebrand mcdonald's to go with our food is fresh. our food is fast. we can cope with $15 an hour minimum wage. we are up-and-comers again. wouldn't it be better to position yourself like that? >> you're absolutely; right? stuart. people want macdonald to be fast, convenient, they want it to be good quality food. executing on those basics and really positioning your brand around, hey, you can countous for a great meal, that's what people want from mcdonald's rather than this hype about nothing or now they're introducing chef craft sandwiches which aren't believable and they have to go back to that basis. stuart: investors are giving a thumbs-up to this all-day breakfast because today the stock went to $102 awe share. last week it was 97. do you think there's any possibility that you and i are
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wrong. >> well, i don't know about that. they're going to get some peek because of the buzz that they've created. bill after the spike happens, i'm not sure it's going to be sustained and really i think the investor interest is because there hasn't been a lot of big news from mcdonald's in a long file. so they may be bullish on it now. let's see what happens in a couple of months. stuart: we shall. denise, branding expert, thank you for agreeing with me. thank you very much indeed. that is probably the last time we'll mention mcdonald's all day breakfast on this time today. >> well, you've got 25 minutes. stuart: i've got 25 minutes. i'll see what i can do. look at the dow jones industrial average, up 43 points, a lot of that gain, though, comes from dupont. why is dupont up? because the ceo ellen is stepping down. you don't see moves like this noon dow stock. 11% higher, 57 on dupont, that's contributing. >> what does that say about ellen? >> or nelson pelts? . stuart: well, the background is that she's been there a
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long time. >> she has. stuart: and defeated nelson pelts. >> didn't want him on the board. stuart: leaving now with a poor forecast in the future. >> yeah. slashing their forecasts. stuart: whether she was pushed, i don't know. >> she's retiring. stuart: extraordinary it goes up 11%. that's a huge gain. that really is. and then we have hillary clinton releasing her first national tv ad. and she's coming out fighting against the gop. specifically referencing house majority leader kevin mccarthy's recent comments on the benghazi special committee. former governor bob is with me now. >> i'm hungry for some reason . stuart: you're killing me. >> well, hillary's killing me . stuart: right you're a governor. airplane governor. >> a member congress, yes. stuart: a member of congress. look, the republicans don't do politics very well. >> guilty. stuart: republicans have just opened the door -- >> sometimes.
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stuart: for a full frontal attack by hillary clinton and jumped in the attack ad. >> and guess what? this is what she does. the clintons love to impeach, . stuart: yes. >> she's specialized in this for decades. stuart: wouldn't you agree that republicans don't do this very well. >> well, we get accused of this, when we talk about benghazi and substance obviously the left press does their thing. so sometimes you can't win. but you're right. she wants to do anything talk about her tenure estate, e-mails, the republicans and they're mean and nasty, this is what she does and she's practiced that because she did for her husband for many year. stuart: it accounts for the fact that the politicians in the republican race are secondary to the total outsiders, the nonbelt weight people, the carsons, trumps, and fiorinas of the world. >> let me just say this. stuart: i'm being critical. >> i know you are.
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it's real easy to throw spitballs from the bleachers. it doesn't take talent. i get it. might have been congress, but it's much easier to throw spitballs from the bleachers, much easier not to keep the trains running on time as you're speaker of the house or you really have a go job as governor where they measure you every day, they quantify your performance. that's a little bit more difficult. stuart: why don't republicans -- >> defensive. stuart: i understand. i'm not trying to put you on the spot. >> no. that's fine. stuart: it's a critical period for america. >> yes, it is. stuart: return to economic growth and prosperity and the way to do that is to fix the tax code. so when am i going to see a republican candidate really pounding the table for this? >> cycle had his reform. that you know. you reported on it. chairman of main street. it wasn't sexy enough, it wasn't a big story. stuart: they were beaten politically. the democrats
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organize better, theberg slogans. >> the politics, yes. when you promise a $15 minimum wage, you're going to cost marginal workers jobs, we all know economics 101. but it sounds good when you say it fast. the party of more, the party of less. reagan figured out, we have to figure out how to win elections when you're promising left, promising freedom, something much morin tangible than, hey, i'm going to give you something. stuart: yes are you temperated to get back into politics? >> i think i'm still on it. i'm on your show. stuart: you know what i mean. >> no comment. stuart: are you going to stand for elective office? >> well, my wife is sitting right over there. not in the immediate future but the bottom line is i have a super pack running around the country, new book coming out, i'm trying to get the right republican, whoever that may be, by the way, all my buddies running, to win. to win. stuart: are you for tax. stuart: and when you say the individuals in corporations? >> absolutely. here's the deal.
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in congress i got the letter love that flat tax, by the way. vote for it and, by the way, my wife's a real estate, protect the home mortgage deduction. so it's not just politicians. it's also the people. we're addicted to it. it's an addiction. my favorite preference. leave that alone. stuart: bob urlich, got a book out, a republican, may or -- >> proud. proud republican. stuart: his wife's laughing right there. >> she likes the humor. she married me. >> good move. stuart: good to see you. >> my pleasure. stuart: news alert this is happening right now. u.s. authorities announcing corruption charges against un officials and a billionaire chinese real estate developer. here's the issue. why that billionaire bought $4.5 million to the united states& whether or not that money was used as a bribe to united nations officials. there's a press conference in progress right now and that is the charge. an employee, a fantasy
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the highs of the day, we've had some back and forth action you can see the s&p lower by and the dow gaining 12 and one market mover, the container store, down about 15% topsails. the same for sales have dropped, although they had to reduce their outlook. this is smaller stocks, a billion below that in market tap. as the xle gains, the energy etf, looking at energy shares gains, up 4%. and we watch mcdonald's new high, the all-day breakfast hot, the longest winning streak, six days in a row for mcdonald's and that's a big winner. microsoft unveiling the new smartphone, tablet, jo ling kent on that with you and we want you to start every day here at fbn at 5:00 a.m. lauren simonetti and i it really opens the passages. waiter. water. so why would you invest without checking brokercheck?
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stuart: how about this? the supreme court is not going to hear an insider trading case. there are significant implications because it is not taking that case. it can make prosecuting inside trader difficult, and i hear from lori, who is going to make an extremely complicate and difficult story. >> as i said it's going to get prosecuting potential inside traders a whole lot more difficult. . stuart: how. >> furyk public company, you may have overheard something in the restroom, a little heads-up on the earnings call.
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you happen to be at a bar that night and you tell your hedge fund investor friend, they invest upon it, he can do that, she can do that. it's totally legal because that original can employee didn't gain anything, they didn't get cash, a better job opportunity, there was no inherent benefit for that. stuart: quid pro quo. >> yes. >> and let's say that that employee did get something but the hedge fund investor didn't know that the tipster if you will benefited from it personally. so therefore it's still legal to do this. so it really opens the parameters. >> so what happens the bar say to the bar? . stuart: don't complicate it. i think i understand that. yeah, this nontaking of the case makes it much more difficult to prosecute inside -- >> right. so take the u.s. attorney of manhattan; right? she's been on this task force. he has been slashing and burning, gone after 100 inside
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traders, got 90, or 80 convictions. stuart: won or loss lost. >> lost. huge blow to him. stuart: simple people. he lost. >> stuart, who may see their convictions over turn because of this. michael steinberg, sce capital management. he benefited from the same insider tips that the original guys did. stuart: i got it. okay. they're killing me here. now this. a draft kings employee won $350,000 on fanduel. allegedly using information not available to the public. we should know that fox business parent company, 21st industry fox has an investment in draft kings. is this insider trading? judge napolitano is here. the key thing is this is not insider trading or not, this is all about gambling, a game of chance. >> right. stuart: or a game of skill, which is it?
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>> right now this industry is totally unregulated which makes people like me happy because it's free market. you deal into risk. you're dealing with gamblers, you go to bed with dogs, you're going to wake up with flees. i'm not saying this is a dog market, you've got to know what you're dealing with here. the government can't wait to get its hands in us because they like to tell the rest of us how to live. here's the regulations for gambling. does the house win a percentage of the pot? that is is the entity that runs this directly compensated by a percentage of the amount of money gambled? . stuart: yes. >> in this case the answer's no. they are compensated by another means. they are compensated by the number of clicks, the number of hits, advertising, et cetera. if they won -- if the house received a percentage of the amount wagered, it would be gambling, it would be absolutely prohibited or regulated in the states where it's prohibited. stuart: i thought fanduel and draft kings got a piece of the
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bet, the money on the table. >> no. that would make it gambling, and that would implicate federal and state statutes. they don't want that and the reason it's so popular is it's not considered gambling. stuart: it's not as profitable; right? >> correct. stuart: if you take a piece of the action, you've got some serious money. >> but of course if you take a piece of the action, you are then competing with the government because the government runs lotteries. it's not nice to compete with the government. stuart: does the government take winnings in fantasy football? >> absolutely. stuart: is there a paper trail? >> of course there's a paper trail. if fanduel is going to pay this guy $350,000, they're going to pay him and report it to the irs. he of course also has a moral and legal obligation to report it to the irs as well. but the reason it is so successful is because it is not based on the gambling
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statutes, otherwise it would be regulated. congressman frank of new jersey just can't wait to get his hands. it's almost the gambling state of the union and he can't wait to get his hands on it. stuart: to get your hands on it ask regulate it. >> correct. stuart: because if you've got a suspicion of insider trading. >> now, of course you know me on insider trading, i think inside information is an asset that you should be able to trade on, but that's not the law. [laughter] . stuart: i think i've got it. all right. judge you were good today. two different subjects and two different hours. you were incredible. >> all too kind, mr. varney. stuart: i am. >> on the other side. [laughter] . stuart: wait. listen to this. >> yes. stuart: microsoft shows off its new line of gadgets, yes, i am a shareholder. so what's the headline out of today's events? the stock's up. we'll bring you the real
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they say the value of vw diesel cars has already fallen 13% since the emission scandal was revealed. >> about 1,700 dollars a car since mid-september. so that's a big impact on a short amount of time. stuart: it sure is. vw stock in the low 20s as of now. well, it is a big day for microsoft. laptop out there. jo ling kent has the event this morning. all right, jo, i want the headline, please. >> all right. stuart, here are the headlines. the first ever laptop being produced by microsoft will be available later this month. it's called the surface book. the ceo said that it's all about increasing productivity and putting all of your devices together and one of the main themes of this event has been taking these new phones and hooking it up to your monitor purchase you also have the same thing happening with the surface pro 4. the new tablet that is also
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going to be available in time for the holiday season. and then of course the new virtual reality and mixed reality hollow lens device, getting an update. more gaming focus there. a pretty cool demo of an individual fighting off robots in his living room and the real unveil is the surface book laptop. stuart: quickly. aren't they trying to get all their mobile devices on that same windows 10 operating system? bring it all together in a new -- >> that's exactly right. stuart: right? >> that's exactly right, stuart, in fact, they announced 110 million people are now using windows 10, and they are well on their way to hitting that one billion person goal by fiscal year 2018. but this is all about windows 10. that's what it really comes down to. getting everyone on mobile and desktop to get the same thing to get this eke up on to speed
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and if it sounds familiar, it sounds an awfully lot like apple that does the same thing; right? stuart: you're right. jo ling kent, thank you, and the stock is up. i own some of it. more varney after this (vo) what does the world run on? it runs on optimism. it's what sparks ideas. moves the world forward. invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to invest... ...in this big, bold, beautiful world.
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>> i opposed the law as a christian. we have a fast food society. everything has to be done that you can fix it. as human beings, we are designed. when it is time for us to leave the planet, we have the ability to do that. stuart: california's right to die law just signed by governor brown. we are down 15 points with or
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without the help of dupont. of 11%. my time is up. neil, it is yours. neil: stuart, you just ended with a right to die story. is there any reason for that? >> no. it was just a very good soundbites from a very important lady. i thought that you would be interested. neil: no. the mcdonald's all day. [laughter] stuart: am i right in saying that breakfast all day at mcdonald's is really not that big of a deal. >> you are wrong. it is a huge deal. >> you cannot get to know lease at mcdonald's. >> go ahead. drag my people down. give
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