>> i want to thank our all-star panel, and don't miss the live prime time coverage tonight at the convention, all kicks off at 6 p.m. right on the floor. do join me tonight on fox business network, let me send you over to stuart varney, "varney & company" starts right now. take it away. stuart: good morning, everyone. republicans are angry, ted cruz did not endorse the republican nominee, he was booed off the stage. the stage, that is, the republican governor, john kasich would not attend the convention in his own state. are the old guard republicans also stayed away. no unity and now it's judgment time. sour grapes, sore loser, ted cruz not popular. the opposition to him is so strong, he may have united much of the party against him. tonight, the trump family show rolls on, ivanka speaks and donald wraps it up.

prediction, this will be the most watched political speech ever. expect a full-throated attack on hillary clinton. that's the unifying theme for all republicans. and for the umpteenth day in a row, there was a world of money, seven record highs in a row, no selloff, certainly no big selloff for stocks this morning, how about that. here is what we have for you, the diminished republican establishment, the larger than life donald trump, and family, and your 401(k). oh, how sweet it is. "varney & company" is about to begin. ♪ >> god bless each and every one of you and god bless the united states of america.

stuart: did you hear that? booing? well, that may be the highlight of the night. ted cruz doesn't endorse trump. the delegates turned on him. and just as that happened, trump was a victorious nominee, the grade goes wild for him. trump looks good and cruz waz booed off the stage. trump tweeted this, wow, ted cruz got booed off the stage, did nt honor the pledge. i saw his speech two hours earlier, but no big deal. what police are calling a possible terror attack in australia, possible terror attack. ashley: yeah, this is an odd one. australian police, stu, have in the last 20 minutes held a press conference, and a man in his 60's, they say, set himself on fire and drove his vehicle, initially tried to get into the front of a police station in the western suburb and turned

his car around and tried to jam it into an underground car pack. he had a gas cannister inside and told people it was a bomb. they managed to put the fire out and he was transferred to a hospital in critical condition. australian police are not calling this a terror attack, they don't know what it was. circumstances would lead you to believe that, the way that isis has been encouraging extremists to fill cars with explosives and target people in their own countries. stuart: we don't know the man's name? >> no, just in 60's, didn't give his ethnic background or name. stuart: thanks, ashley. ashley: sure. stuart: and down maybe 25, 27 points at the open, remember, please, it's closed at a record high for seven straight days, haven't seen that in years. early names that will be moving. ebay, strong sales, that stock

will be up about two or three bucks, that's 7 or 8%. different story for the chip maker. profits will be down much, not much, 1.25. rival qualcomm sees strong demand for chips in china. up it goes, a significant gain for qualcomm. look who is back. glutton for punishment, the authority, lenora hawkins. i want to ask a question we've asked every guest, why is this market up while the world is awash in trouble? >> it's fear of missing out. the beginning of the year was the worst start in history, people got destroyed and in '08 we skyrocket and then the brexit vote and the world is once again coming to an end and people are desperate to get some sort of return. desperate for those retirement savings that have already been killed. stuart: so, you're in the "we're the only game in town" camp.

>> in europe, snow one is paying attention to the fundamentals. you've got high yield where it's getting cheaper and cheaper and the cost of high yield is cheaper and cheaper and it should be less and less risky, except this year, we're than we had in 2009 and we all know how well that went. stuart: so i can't get a rate of return that's decent. ashley: treasury going negative. >> and until the suppressed yields make it so hard for people to make a return and they're going to go hunting. stuart: if our viewers want a rate of return, they put it into american stocks which pay a dividend maybe, 2, 3%. >> a little something. stuart: maybe so. ted cruz is speaking right now. i think we-- let's hear what he's saying. [applaus [applause] >> and i laid out a standard, i said we should vote for candidates that you trust to

defend our freedom and to be faithful to the constitution. [applaus [applause] >> now, i'm going to tell you right now that's a standard i expect to be applied to me. i expect to be applied to every candidate on the ballot. stuart: that's ted cruz speaking right now as you can see, speaking in cleveland. this is the morning after the speech last night. ashley: and the sponsored background. stuart: a very sponsored background. he's saying that he told donald trump he wouldn't endorse him three days ago and let him speak anyway and i don't know exactly what he's saying liz: he's doubling down on what he said last night. stuart: he's doubling down on what he said last night. ashley: he's campaigning for 2020 is what he's doing. stuart: he said this morning, he didn't say a single negative thing about donald trump last night which is probably true, but the man on the left-hand side of the screen is a very unpopular guy in many republican quarters.

why don't we bring in steve hayes, i think you're there. yes, he is there. what do you make of this? my take on last night was that ted cruz lost and that the old guard republicans lost big time and are very unpopular this morning. what say you? >> stuart, it won't be the first time that you and i disagree about something, this election. i don't think that ted cruz lost. i think he-- you're right that he lost in the short-term. i don't know that he lost in the long-term and i'm not speaking specifically about his future electoral prospects for 2020. i think what ted cruz tried to do was layout a standard for what he thinks republicans and conservatives ought to expect in their nominee and in the leader of their party and i think he did it quite well, no question, it will be controversial. he's going to be defending himself not only this morning, but i think for several days from now on, but for those who are worried about what donald trump means for the republican party, i think ted cruz gave

them something to look at and focus on for not just 2020, but down the road. stuart: do you think it was last night, ted cruz's speech, the first speech in the 2020 campaign? >> i think there is a he-- there is no question that ted cruz wants to set himself up in the event of an i am -- implosion in the republican party. part of it deals with this pom populous strand on one hand and sort of conservative, traditionalists set of conservatives on the other hand and ted cruz clearly wants to set himself up as leader of the second group. stuart: and what ted cruz has just said, he's reiterated what newt gingrich said after the cruz speech last night. newt gingrich said last night the only candidate who will support fully the constitution of the united states is donald trump.

what ted cruz just reiterated that, he didn't mention-- i don't think he said donald trump, but he said the only-- it's the republicans who will defend the constitution. what do you make of this, steve? i don't want to get too inside baseball here, but we've got two guys on opposite sides trying to say, i think, something similar. >> well, i think it would really matter whether ted cruz said republicans represent the constitution or whether he said donald trump specifically is the constitutionalist in this race with hillary clinton. if he said the latter, obviously, that would be closer to what newt gingrich said. it would surprise me a little if he said at that given what he said last night. what cruz tried to do is leave open the possibility that donald trump could be that. if you believe, and you're a republican voter, donald trump will be the one who more closely follows the constitution, then as cruz said, follow your conscience, vote for who you like. if you don't, on the other hand, believe that donald trump

is the one who will most closely honor and follow the constitution, you're free not to vote for donald trump and you, too, can vote your conscience. stuart: steve, thank you very much. i want to go back to ted cruz, he just said, verbatim, believe me, i'm not voting for hillary clinton. >> there were a lot of folks in that race said you've got to vote to the lt. governor, he's next in line, it's his term, this is the party he's a team player and he's the one who is next in line. stuart: got a microphone problem. now he's talking about vice-president pence. if he makes any more headlines, not that that was a headline, but anything more to say, we will bring you to it. let's move on to this. here is the question. did you see this? communist protesters burning the american flag outside of

the rnc in cleveland. there were arrests. here is the question, other than that, where are all the other anti-trump protesters been? we'll get an answer for you, promise. quickly back to stocks, facebook will open near, right very close to an all time record high. facebook this morning. and look at general motors, that's going up. it will gain maybe 5% at the open, record profits last quarter and it raised its forecast for the year. and look who is joining us later this hour, duck dynasty p patriarch, what does he think about cruz and how does he feel about this. >> no longer see the word christmas stripped from publici use e or the pledge of allegiane removed from our schools in an effort to be politically corre correct. ♪

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>> you're looking at ted cruz, he's speaking right now in cleveland. this is the morning after the speech last night where he was booed off the stage. what he said so far today is, only republicans defend the constitutions. i'm not going to vote for hillary clinton, and i didn't say one negative thing about donald trump. and he's not walking anything back. he still says vote your conscience. let' listen in for a second. >> since i've been in office there have been an awful lot of elected officials in this room and across the party and across the country that i've traveled the country, i've traveled the state of texas campaigning for, raising money for, fighting to help elect republicans. but let me be very clear, this isn't a social club. it's not simply reagan's powerful speech 40 years ago where he said the republican

party is not a fraternal order, it's not just by club, we either stand for shared principles or we're not worth anything. folks here have related questions. how many of you would like to see more leaders stand up to john boehner and mitch mcconnell? mcconnell? [applaus [applause] >> i want to point out to folks here, you're seeing and you saw last night, why so few elected leaders do because anytime you stand up to john boehner and mitch mcconnell, leadership screams, support the team, you're a republican,

we're our leadership, sit down, shut up, just support the team and damn it, if that's the price i ain't going to do it, i'm going to honor the commitments i made to the voters instead. >>. stuart: all right, ted cruz speaking live right there. it's a breakfast of texas delegates there, i believe, in cleveland. so far he says i am fighting for republicans, but he's not mentioned donald trump. i am fighting for republicans. he seems to be channelling ronald reagan in 1976 when reagan lost to jerry ford.

i think that ted cruz wants to make it a ronald reagan moment and picking fights with the establishment. that's what we've gotten so far. he's not changing tune from last night or backing off. crystal, you've been hearing this, what do you make of what ted cruz is saying this morning? >> i also saw his disgraceful speech last night and ted cruz is no ronald reagan. as you know, stuart, ronald reagan endorsed ford. he came behind the party. he rallied the party, even though they lost the nomination. ted cruz is not a class act and right now, we just heard him talk about, you know, how the establishment, party leaders want you to support the party and he has said that he's not going to support the party. that's what leaders do. in the final hour, when you lost the race, you don't act like a sore loser. this is a monumental election. we've got supreme court vacancies waiting and ted cruz

wants to make it about himself. it's awful. he is no reagan. i think his political career is over and he's still out there on the campaign trail, even this morning at the convention he is still campaigning. stuart: that's a good point, crystal. he's speaking this morning as donald trump wraps up with the convention tonight. >> a political that trump will lose due to ted cruz. but he's becoming an asterisk, he's making a political bet that trump will lose, to 2020. and if that worked he would be the nominee-- >> if they knew what he was going to say, but not endorse him, why do they put him on the stage the same night that the vp pence comes out and it should be his coming out party. i find it very odd that that happened knowing ahead of time-- i thought cruz was going to be embarrassed and hustled off the

stage. >> and cruz is fund raising off of the speech. >> it set up trump for fantastic optics, he walks in a bigger man. i think it's a brilliant, oh, actually i'm the outsider and trump comes in and says, it's okay, let him have his day. stuart: crystal, i have to point out every time ted cruz speaks, he gets a standing ovation from the texas delegates. hang on a second, i'm going to listen in to ted cruz. >> they're designed to protect and perpetuate. now on the rules fight that happened on the rules committee, i very consciously stayed out of it, i wasn't in cleveland, i didn't arrive until that fight was over. i understand that a lot of delegates fought passionately-- >> i've got to say that ted cruz is rehashing the fight that's been going on for months. he's talking about the rules

committee and changes thereof. >> well, no, when i was watching his speech last night. i called my parents, am i missing something, when is he going to say i endorse trump. and when he said, i don't know anything about the rules. >> i wrote a piece two weeks ago and i predicted ted cruz no one was going to know what he was coming out of his mouth and try to sabotage the convention, i'm not so sure, i think it could play-- i think it shows that donald trump is magnanimous, right? he has taken the high road, but i also think we're talking about the wrong person today. we're talking about ted cruz, the spoiler, instead of mike pence, the vp pick and how trump is going to unify the party. stuart: all right, crystal, another of those standing ovations from ted cruz this morning. essentially what ted cruz has said today the morning after

the big speech last night, he's still anti-establishment, but not pro trump. all right. >> well, he's-- he's pro cruz. stuart: and tell you, crystal, there's an awful lot going on this morning, a stock market that's not retreating that much from record highs, down 30 points at 18-5 and change at the opening bell this morning. we're following your money for you right after this. if you need advice for your business, legalzoom has your back. our trusted network of attorneys has provided guidance to over 100,000 people just like you. visit legalzoom today. the legal help you can count on. legalzoom. legal help is here.

>> for a few brief shining moments we're going to ignore politics and focus on your money. the stock market that holds near record highs, please watch the stock price of facebook, microsoft, apple, ebay, general motors. they're all going up. yeah, follow your money with "varney & company." back in a moment. ♪ with this level of intelligence... ...it's a supercomputer. with this grade of protection... it's a fortress. and with this standard of luxury... it's an oasis. introducing the completely redesigned e-class. it's everything you need it to be... and more. see your authorized dealer for exceptional offers through mercedes-benz financial services.

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>> thursday morning, eight seconds until the opening bell. we're probably going to open 20 or 30 points down, but still, very close to all-time record highs. here we are, folks, it's 9:30, we're off and running and we're down in the first areas of business. check the dow 30, a mixed bag and that sort themselves out as the dow goes down nine, eight points. >> that's not a selloff by any means. the s&p 500 is actually up a tiny fraction. how about the nasdaq, all the technology stocks in that index up four points. very close to 5,100. where is gold these days, retreating fast from 1350, down two bucks at 1316.

we're at 45 per barrel of oil. now, you are buying stuff on ebay. not you personally. ashley: am i? oh, okay. stuart: generally, the world is buying stuff on ebay, they've raised the sales, much better sales and raising the outlook, not much impact on the stock, it's going to open dead even, that's not the open, yeah, there you go. did i say dead even? >> you did. stuart: how wrong can you be, stuart? wrong, dear me, up $2. lower profits at intel and they're spending a lot of money on restructuring the company. the market doesn't care, the dow 4%. qualcomm, encouraged by the china business, raising its outlook, if you look at that. up 7%. now, there's a gain. let's get to tesla. elon must-- musk reveals his master plan, it's a battery company. and chipotle reports after the bell tonight.

that stock has been down 42% since last july. dead flat ahead of earnings this morning, this afternoon, i should say. look who is here, ashley webster, elizabeth mcdonald. larry levin, lenore hawkins. and it seems to me stocks just want to go up. what do you say? >> i say there's not a whole lot of places to go right now. we've got an emerging crisis in the european banks, no one is paying attention to when you look at rising default rates and that's going to come here and people ought to be careful. stuart: do you get the same feeling, that the market just wants to go up? >> it does and as we talked about last week, stuart. janet yellen is the person to talk about that. the interest rates are going higher and there are issues around the world and i don't think the market cares too much. stuart: i don't want to cast a shadow over the market, but i have to ask, what will stop the rally. lenore, you're first.

>> the rising dollar. it's starting to consolidate. as that strengthens, it's going to be a major head wind of corporate earnings. we're in the fifth consecutive quarter of shrinking earnings ap a stronger dollar is not going to help that and the stronger dollar would tip-off what we're seeing with the defaults. you have a ton of dollar denominated debt. as the dollar is stronger, your default rates go up higher. stuart: if i see the dollar skyrocket some more, say, watch out, the market takes a hit. that's your position? >> and that happens when the fed raises rates. stuart: not necessarily, it could go up for other reasons. >> could, could, vis-a-vis weakening currency. >> exactly. stuart: larry levin, come in on this. this is your turf. could a strongly rising, sharply rising dollar up-end this stock market rally? >> only with higher interest rates.

with the higher interest rates, nothing happens. if janet yellen stays pat-- >> if you've got a few bucks to invest would you put it into the american stock market at this moment? would you? >> yes, but i would put it in smartly where i would buy stocks and put stocks in and always protect myself. i think the big issue is, if the bad things happen, people lose more than expected. you'd be buying on the highs, but obviously-- >> even though fund managers are at record highs in cash holdings. they haven't seen cash holdings like this since 2009. stuart: okay. ashley: they haven't gotten in on this, it's the only game in town. as we talked about earlier. it's about yield and where do i get return on my investment and right now dividends on the u.s. stock market-- >> but some stocks are looking bubbly, they are. >> particularly when you look at who is buying them. a lot of the corporate stock

buybacks are funded that's essentially the spanx of the corporate word and dress it up and-- >> what an image. [laughter] we're down 36 points with the dow industrials. 18,558. now, in a moment. i'm going through a whole bunch of individual stocks, but for now i've got to ask a political question and lenore you're first up yet again. is the election having any impact on this market right now at all? >> i don't think so so far. because what we were seeing was for a long time, the better hillary was doing, the better the stock market was doing. as trump started doing better, the market started going down. stuart: i'm interrupting here. if hillary looks good, looks that she's winning, you think it helps the stock market. >> it has, not that i think it has, but we've seen a strong correlation for quite a few quarters. hillary was better in the polls, the market was better.

she's a known quality. the tough thing with trump it's difficult to figure out. ashley: exactly right, it's the know what you're going to get against who knows what you're going to get with donald trump and his talk about trade wars unsettles the market. stay the course with hillary, i think the markets looks at it like that. stuart: come on, larry, it's the hillary effect, hillary driving this? what do you say? >> i have a lot of of respect for lenore and ashley, no, i don't agree with that. >> just lost my respect. [laughter] >> i'm sorry, but the hillary really looks like she's going to take the presidency, i think that could bring the market down. >> it looks like that's shifting. stuart: look it, if hillary wins the elections taxes go up, spending goes up, the debt goes up liz: bigger government. >> if trump wins and this is purely looking at financials of it. it trump wins, he claims he'll

put up trade barriers and you have trade wars and that's not good when you have trade at record lows. stuart: but, lenore, he's going to cut taxes. >> all for that, absolutely, all for that. he can't do this on his own. can trump work well with others. stuart: truth is none of us can resist politics. none of us, don't you love it? and let me go through some names. saudi arabia issues against pokemon go. >> what? >> saying it's against sharia law. okay? and down this morning, down a point at 32 it. i don't think that's much to do with saudi arabia, however. look at apple, apple stands to make a lot of money from pokemon go because it's an app. you get this thing on the app store so apple goes to $100 a share as of this morning. you see pokemon go on the streets outside? 4:00 this morning, they're out on sixth avenue running into walls. the german airline lufthansa,

the recent terror attacks and turmoil in europe. down. and american express, we're using the charge cards more, nonetheless, the stock is down 1 1/2%. go figure. here is a standout. this has not been a standout for a long time except on the down side. general motors, profit more than doubles. u.s. sales liz: good note, that stock is still where it was before it went bankrupt. stuart: footnote, footnote liz: been 32 for like 10 years. stuart: i'm trying here liz: what a great guy you are. stuart: starbucks, they'll report after the bell tonight. dead flat this morning. mattel, here is news, and they're selling more barbie's. >> they did that great new product launch where they had not just one type of barbie's. and it was kind of a beautiful thing for girls to have lots of different beautiful types of women. stuart: whatever you say.

mattel is up 67 cents, 1.7%. elon musk reveals his master plan for tesla. lori rothman at the exchange. what's that doing to the stock? >> let's have a look at the stock. not a whole lot of change, but i'll tell you elon musk is going big. down 3/4 of 1%. he says the goal is to introduce autonomous ride sharing with uber and introducing new models, get this, an electric pickup truck along with heavy duty truck. the catch, no details how he's in fact going to execute these brands. back to you. stuart: it's down, that stock is down. holding around 220 a share. okay. chipotle, they report after the closing bell this afternoon. you've got to remember, this is a stock that's down 40% since july of last year. so, would you buy at these low levels, lenore? >> i'm not convinced that they've got their leadership in order. i'm being cautious liz: they could have three

straight quarters of downed ward trend. the last quarter that dropped nearly 30% and they're looking for a 20% drop in same-store sales from the food-borne illness outbreak. stuart: as you see the tape across the bottom of the screen. be aware to look at facebook, and look at microsoft, another all time high, but a five or six year high. apple, $100 a share and stocks are moving and you own them and hold them. we'll show you shortly. now, just a touch of politics. urban outfitters is selling anti-trump merchandise. what's that about, liz. >> a teacher ibk, i don't know, trump vote, and they cut the price of it. are they breaking the cardinal rule in retail don't step into politics pass a bid for the millennials? will it work? it's alienating a big slug of

your shoppers, is that the way to go. stuart: i don't think that people will buy it because i don't think people like trump merchandise or any-- political slogans on a t-shirt liz: right, and they cut the price to your point. >> emotions are a bit too raw. stuart: true. lenore, larry, thank you, one and all a great show on a thursday morning. thank you, one and all. where are we? 1 111-- 11 minutes into the trading day. ashley: we're in the studio. stuart: new york city. tson, s duck dynasty, now, he supported ted cruz. we're going to ask him about cruz's nonendorsement of trump last night. tonight is the donald trump show, it will be like nothing we've ever seen before at a political convention. mike huckabee, bret baier, what

do they want to hear from trump and unite the party, the biggest stars on "varney & company." ♪ ♪ take a chance on me ♪

>> the headline for the market this morning is no big selloff even though we hit seven record highs in a row. got some big names and want to check them for you. start with microsoft up a little bit more this morning, 56.03. how about facebook, 121, still very, very close to its all-time high. netflix, now, where is that? it took a huge hit the other day. now, it's down just a fraction there. show me the nasdaq, please, because i think we've got yet another new high for the year 2016. that's on the nasdaq.

it shows you how well those-- the technology stocks are doing. 5,102. if you're in tech, you're probably making some money and i've got breaking news for us. we're getting word of some of the themes that donald trump will use in the big speech tonight. ashley: a big part of the theme we're told is make america safe again. i believe that was the first night of the convention. donald trump is reportedly going to use that as the foundation, if you like, of the speech. safety as a foundation for prosperity is what he's going to say, it will make the case by combatting terrorism both abroad and at home, secure the border, providing safety for u.s. citizens, law enforcement. all of those conditions will set america free to prosper. stuart: all in, immigration, terror, security, you fix that, you get prosperity. that's just one of the things. ashley: that will be the overarching theme. stuart: love to see the entertainment value he's going to bring to it.

ashley: he'll be on prompter, i assume. stuart: we're told. yes, yes, we are. senator ted cruz as you may know right now was booed last night because he did not directly endorse donald trump. earlier this hour, this morning, he doubled down on it all. roll tape. >> this isn't a social club, it's not simply reagan gave a powerful speech 40 years ago where he said the republican party is not a fraternal order, it's not just my club. we either stand for shared principles or we're not worth anything. stuart: you heard it on this program just a few minutes ago. and again then. very special guest for you right now. duck dynasty's phil robertson who used to be a cruz supporter. are you now a trump guy as of this morning? phil? >> well, stuart, now, i'm listening to your accent and i would say what? british lineage, would i be

correct? >> yes, sir, you would. >> well, now, listen, for king george's past transgressions, stuart, i have forgiven king george and you. [laughter] it brings us to an important point. what ted needs to do is, trump beat him fair and square and the rest of them, too. all the rest of the candidates that trump beat, including ted, what they need to do is, they need to forgive mr. trump for whatever unkind words he said to them during the heat of the campaign. the people have spoken. they said donald trump is the man. i used to support cruz. he lost. ted needs to understand that. he made a mistake when he did not endorse trump last night. i'm behind mr. trump because that's the hand that's been dealt by the republican electorate. you get it? so i've forgiven cruz and trump

and stuart varney all in about three minutes. stuart: i'm very intrigued to be in that company. thank you, phil robertson. by the way, ted cruz did say this morning that he would forgive donald trump and would support him, but he attacked my wife and my father and he said that was unforgivable, but he implied that's why i'm not for giving it, forgetting it and endorsing him. what do you say to that? >> when the disciples came to jesus and said how many times we should forgive someone, seven? in america it's about three or if someone says something about your little wife or your father, then they say, well, that means i can't forgive them. should we forgive them seven, they asked? jesus said, 70 times seven. there's no principle there. the principle is we should be

more for giving, more loving, and i know the heat of the campaign and politics, we all need to understand something, we look at our culture, for us to remain civil, we must all stop sinning and begin to forgive and learn how to love each other, for crying out loud. that's my message and that's my story and i'm sticking to it, stuart. stuart: we are hearing it, too. would you stay there for a second? i want more from you in just a moment. trump's going to speak tonight. i want to get your take, phil, on what he might be saying tonight and the family. more with phil robertson after this. [vet] two yearly physicals down.

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>> if you're no longer see the word christmas stricken from public use and the pledge of allegiance removed in an effort to be politically correct, so my father set aside the company he was with his entire life, for him it was the easiest decision in the world. >> eric trump, phil robertson, i think the trump faright?

>> which is a good sign, stuart, because think about it. you can tell a lot about a man by looking at his children, in my humble opinion, when i look at donald trump's children, there's a big lesson in that. i don't think depraved, sorry lowdown individuals would-- >> what do you want to hear in donald trump's wrap-up speech tonight? >> let me put it this way. we have two litmus tests, if i go down saying because stuart varney is not as conservative as i am, therefore, i'm going to dismiss stuart varney out of hand, just because he's not as conservative as i am, that's sort of ted's logic. at least last night. what i'm saying is, the litmus test should be, look, you may not be as conservative as i am,

but we can work together. i hope donald trump tonight basically lays out his agenda, we all understand that we're in different levels of being conservative, being godly, it's like me running around, stuart, and saying because this individual is not as godly as i am, i'm going to dismiss him out of hand. look, i'll work with him, i'll promise america i will try my best to get a little more bible, and a little more godliness in mr. trump or stuart varney, or sean hannity or anyone else on the earth. give people time to change a little, okay? >> phil robertson, now i'm beginning to understand why your television show is so popular. that's good stuff. phil robertson we want to thank you for being on the show, a timely appearance and i know you'll be watching with us. i think tonight's trump speech, by the way, will be the most watched political speech ever and we'll be watching. thank you.

>> we need, we need-- we need a big change and i think trump's the man to do it. stuart: yes, sir, thanks very much, good stuff. check our big board, we're only down 31 points, that's all we are down. we've had seven records in a row. we've reached well above 18,600 and we're down 30-odd points right now. 18,562. will you look at that. we say this every day, what in the world is going on? chaos everywhere and the market keeps rallying, how about that? coming up, second hour of "varney & company," donald trump seeks to unify the period of time atten big thing tonight, as trump stakes the stage, western women radicalized by! >> the radical stalked the police officer to his home and two days before that, an

attacker pledging allegiance to isis, killed 49 people in an orlando nightclub, all of this in just the past 37 dales. days.

10:00 in new york 237 glncht 7 in california are here's what's happening. tonight is the night. donald trump will make the most wanted political speech ever. if you're wrapping the convention you lay out the case who knows if he'll say his family will again be on full display. donald junior, eric, and tiffany they've all been very well received. ivanka introduce her father tonight. now, this man knows television expect a big entertaining finale to the most entertaining convention in decades. well did you see last night in if you stayed up late you saw raw politic close up and personal. ted cruz booed awcht stage. the trump are convention wanted endorsement. they didn't get.

they turn on all of the r-78 who is did not get behind candidate trump. and this morning, cruz doubled down. we've got it all for you. late breaking news on what may have been a terror attack in australia, a market just won't quit. the second hour of "varney & company" is about to begin. ♪ >> all all right an indicator on housing market has cool to, dow is down 35 points in 21 minutes worth of business existing home sales for the housing market ashley and 5.7 million which is better. >> i know you hate estimate bus measure by something it is better am i making my point better than expected that showed continue strength, growing strength in housing market. >> annualized basis selling pace

for existing holes is selling 5.5 million that's what we're doing. that's not greats that's not terrible. >> yeah. middle of the road. do we have news on mortgage rates. >> for 30 year fixed rate 3.45 it's been in upward trend for last two weeks. still low and here's the thing fannie mae and freddie mac saying finance activity up 20%. people rushing in to grab low rates. >> i i said on this program i mortgage rates get down to 30% eerch on 30-year fix i was wrong. i was thinking that decline in the tenure yield now up -- >> 3.45. we've seen banks offering near 3%. interesting for that. regional. stuart: depends how many points you pay. now look at the big board no fact on the news we brought to you about existing home sales. 5.5 million per year.

but we have another new high or for the nasdaq composite that's a 2016 high but high nonetheless. two moments ago above 5,100. take a look at facebook it's still very close to all time high it was at 122 earlier. now it's backed off just a little. but look at general motors we say that is one of the big stocks of the day it is up 3%. good profit last quarter. raised its forecast for the year. investors love it. how about the price of oil. not doing that much this morning. 45 dollars a barrel. now we're in the thick of the summer driving season. and look at this. the average price of gasoline nationwide is $2.18 per gallon. down 14 cents gallon. from a month ago i think i remember saying yesterday i had paid in new jersey a buck 89. >> that's really good . three hours of driving -- [inaudible] fill it up. [laughter]

to be cheap. but ted cruz did not ins endorse donald trump no he did not. last hour, this morning last hour, with he faced as tough crowd of fired up texas delegates. listen to this. >> actually late last newt had it exactly right. he stood up and said you know what standard he laid out who will defend freedom and fateful to the constitution. newt said donald trump is only candidate that meets that standard. [applause] i'll tell you that, that we want to win the election that's the only way we're win withing this election. >> that was interesting. not doubling down walking away from donald trump. maybe came back a tad. say that? >> yeah, look he's clearly not wanting hillary clinton to be the next president. that much we know. okay. consistent, he's said it. okay, i think that i'm not particularly bothrd by what ted

cruz did last night and say how -- stuart: republican or democrat -- >> i'm for american people that's what i care. here's the thing. i think there's something to be said for type of conservative discourse that ted cruz has king thely echoed after an important part of the republican pert and although he's not nominee he will not be the no, ma'am new nominee ting it's okay for him to be a voice around that. stuart: delegates did not like it and taking it out on ted cruz today. what had is it that peter king >> that he's a disgrace and a fraud. also chris christie saying he broke his pledge and can't be trusted and this is why nobody likes him in washington, d.c. >> seems to me ebony that old -- if i can put it like that ted cruz old pled god, bushes, people who are not supporting donald trump, they lost. this is trump's convention.

>> that's only thing i will say. what ted said was fine and convention floor, the day before we nominate or they nominate trump is the right place because this is trump's convention so don't rain on his parade there but totally fine in terms of the content of what had he said. >> tonight going to take the stage probably heavilies introduced by ivanka. >> which is s pest. what do you think? >> i expect him to stay on message. two things make it about not putting hillary clinton in the white house. make it about trump are protecting america and making it about america first if he can stay on three points he'll be successful. >> missing something here. earlier ashley if you merge what the key theme would be, and you told -- >> keeping america safe again and bring in all of those issues, terrorism, home, and abroad, immigration, support for law enforcement. he's going to wrap that all around making america safe again and if we can do that america can prosper.

>> something to your attention ebony. the way things are shaping up it looks like people of color are voting democrat. now that's not new -- but it's going to be enhanced in this coming election. a lot of white people are going to be voting for donald trump. now that's a racial ethnic divide. >> particularly white men are supporting trumple at a record rate. >> anything that donald trump can say tonight that bridges that racial divide and maybe gets some minority votes to him? >> sure it is. sure it is. it's the way he frames it. he needs to address this issue between communities of color and law enforcement head-on. i think it's an opportunity. now he didn't have to say anything he doesn't mean but he can say you know what we're all safer when law enforcement feels safe and protected and that in turn makes communities particularly vulnerability communities like those worth minorities in them safer too. if he can deliver that message it will go a long way. >> well you never supposed to say this only time will tell.

[laughter] time will tell. stuart: now u, this is news to investors and people like myself who are interested in money and taxes. the trump tax plan is getting a revision. trump advisors saying it will have a dramatically reduced price tag. in other words, i'm not sure i understand this what $200 billion cost of treasury. >> basically about the rates being -- about individual rate will group to around 33%. from what trump said was going to be 25. but the corporate drop . >> that's what i want to hear. instead of down to 25% trump leads it at 33%. a little less generous. >> a little less. >> got it joining us now is peter. now peter is a rare breed. [laughter] why do i say that? he's laughing. >> i want to hear it be this. >> let me tell you you're a college professor. you're from california. and you support donald trump. i hope you've got tenure. have you?

>> he's lonely. >> let me tell you if you fly into orange county john wayne airport there's a statue of a big john there. so orange county is conservative. i actually consider myself just a pragmatist, and i thinks there's going to be a lot of pragmatist voting for donald trump a lot of reagan democrats. stuart: what do you make of this late report that we've got here that trump will not lower the top tax rate on individuals to 25% and put it at 33%. is pulling back on the generosity of his tax cuts. what do you make of that? >> one of the key principles of donald trump's tax plan is revenue neutrality. so this is an important contribution to that. but i'll tell you to be honest here, the most important part of that tax plan has to do with the corporate rate. donald trump wants to make sure that american corporations have the greatest incentives to produce here in america. and right now that corporate tax rate is highest in the world.

so we have got companies g.e., g.m. going abroad to get a tax break and that's crazy. so tax plan that donald trump has is designed to get our economy going. double our growth rate. and it's all good. >> we will get it, if we get the tax plan in place trump tax plan you think we'll get 4% growth? >> the key part of the whole economic plan, it is tax, immigration but most of all it's trade close to 800 billion trade deficit. that alone subtract the point and a half off our g.d.p. growth rate so you get a tax and donald cracking down on reduce in our trade deficit we go to three and a half to 4% you're right in the bull market every day and only people you're shorting ted cruz and it will be all good. and that's -- that's what i hope will be taking that message to the american people.

because part of the safety of america is entree intricately tied to strength of our economy. we have lowest amount of ships protect aring us since the 1920s because we don't have a strong economy. so security economy, and donald trump is only presidential candidate in last 24 years to understand that. >> fascinating. i have to ask is you. gliewfort stuart: what's the reaction to you in california a professor, a supporter of donald trump? why aren't you run out of town? [laughter] it's a serious question. what's the reaction to you? >> you know, you're raising i think a broader point here which is the polarization of this election. we have two figures that are -- totally opposite and you know we have hillary clinton long establishment. she's been responsible for every bad trade deal back to 1993 and donald trump.

talks loud, speaks big. thinks really intelligently. they're going at it. people are taking sides. hey, that's democracy. that's the beauty of this whole thing. but you go back to the early 1980s when we had the jimmy carter run against ronald reagan it was the same thing. they love things that they were say about reagan and trump right now. i think that comparisons app i think that wii on dawn of something new with a political party of being -- that's the big ten. >> peter we thank you for being on the show today. you're in cleveland right now. i hope they'll let you back into california. [inaudible] thank you peter. appreciate it. >> john wayne when we do that. stuart: check that big board still hovering with a loss of about 30 points. down 35, 18,558. new this hour, we have a warning from u.s. intelligence agencies. the rising threat of western

female violent extremists. more on that coming up. also a live report from cleveland. we expected violent protests, the hl so far, bunch of economists burnt the american flag.

>> it seems like the dow is stuck with with a loss of 30 odd points and down about 10 of them are up that's where we stand. we've got southwest airlines you know they've got a computer meltdown. they say it is mostly been fixed. but 220 flights canceled today. that's down 8% that stock one of the worst performances i think in seven years. by the way, the company also warned ab slowdown in revenue. so down it goes nearly 9%. microsolvesoft up a little bit ,

and big winning yesterday up a little bit more this morning. i always say -- some of that stock. also police all over the country warned about a growing terror threat posed by radicalized western women. emac. >> joint intelligence bulletin given to the fbi and department of homeland security taking notes that 14 women in the united states have been arrested and implicated in terrorist activity since january of 2015 and finding women doing are they're encouraged, women to do lobe wolf style attacks to do things like surveil people on the internet to attack individuals or locations. so they're getting publicly available information these women on the internet to do attacks, and also there's an encouragement for teens, teenage women to get involved we've seen that in europe as well. >> extra edge to attacks. >> that's right. enemy within, so to speak. saw that in san bernardino. >> that's correct. army veteran and author of in

the arena, his name is pete,s that's a new book by the way. a good one welcome to the program. what do you make had of this report --w warning about radicad women in our society posing a threat? >> not surprised at all. spent time in muslim communities knows that there's a lot of secrecy physically vailed and vailed from society of women. and then inside these relationships anyone who operate it is needs a safe haven and that safe haven is your wife, spouse, or your home and thenal the conduct of your significant and if they sympathize with it they enable it. but isis knows we don't suspect them and women. and we can't see what's underneath brca of a woman and isis loves to exploit they're open to radicalization just like anybody else so it's good news that we're focusing on it. but it's the problem that's been around for a long time. >> meanwhile nef newt gingrich

saying we're going through history. watch this. >> on monday afghan refugee slash and wound passengers last week. isis claimed responsibility, after a tunisian man drove a cargo truck into a crowd in east france. two weeks ago almost 300 people were killed and more than 200 were wounded in baghdad. few days before that a istanbul airport i.c.e. with guns and bolls killed 44 people. radical stalked a french police officer to his home where he murdered the officer. two days before that, an attacker pledging allegiance to isis killed 49 people in an orlando nightclub. all this in just the past 37 days.

>> you know pete that's extraordinary list. isn't it goes to show that we all feel this anxiety, this lack of safety anywhere, any time because the threat is everywhere. that is really, really new. isn't it? that's it. >> it is new, and we can't get numb to small attacks because you add them up. they're symptoms of what newt gingrich is telling us that we're in a civilizational war being waged against us not just happening in middle middle east and united states and we're not winning. we're not gaining traction. their ideology is unfortunately surging because we're asleep at the wheel willfully blind to the real depth and deapprove tiff this threat and tun willing to untie hands and unleash hell on it which is only thing we can do when you face an enemy to chop off heads and burn people in cages and stab people to death and then mutilate their bodies afterwards. that is what isis and islamists

do and keep doing if we project weakness so spot on newt gingrich and need more leaders explaining the nature of this threat. >> spot on -- right there cleveland convention thanks very much pete we will see you a bit shortly. thank you pete. check the dow 30 we call this market scan a good look, ten up, 50 or 20 -- about 20 down. the dow is right there with a my news 30. next, we're going to take you back to cleveland. left promised protest major disruption of the rnc but so far apart from this flag burning not much else. >> america was never great -- [inaudible] [chanting] >> five, six, seven, eight america wases never great. v

>> well how about this dominoes pizza much better sales. they hit a record high of 145 just a few minutes ago. now they're up 143 up nearly 5% gain at dominoes pizza. you know we were promised huge protest at the convention this week but so far this flag burning that's been the most prominent ax that we have seen. jeff flock is out and about on the streets looking for the protesters but so far jeff, you haven't found many, have you? reporter: i'll tell you it has been i don't to call it a disappointment but a good thing but flag burning that's not illegal. the supreme court ruled after somebody burned aing flay in 1984 democratic convention in dallas it's protected speech. you can even put flags on shirts and hats and do whatever the heck you want out here. if you set it on fire in the middle of a crowd that will get you arrested. stuart: our point would be that when we saw that flag burning,

what were there maybe six people trying to do it. or far more cameras trying to record the event, i mean, you cannot say it was a massive demonstrators anywhere. can you? >> not a mass and, in fact, today is last chance it's the stand against trump rally and that's at 1:30 local time. eastern time here today. i will say, though -- go today if i wases going to say i'm seeing more, though -- [laughter] stuart: that delay will kill you every time. there are no protrump demonstrators than anti-trump demonstrators what do you say? reporter: i think you're right about that. that's one of the points if i was going to make, and one of the protrump demonstrators yesterday group is one he doesn't one that is a group that would make you look like a socialist. it's a -- church group called warn the wicked and they say not only

they like democrats but they'll burn in hell and so are catholics by the way along with gay and all represented here. >> glad you got that in jeff. [laughter] >> but no normal protesters out here. that's crazy protesters -- [laughter] all right jeff thank you very much indeed. liz has been waving -- >> funny cleveland police chief says there are more media than protesters -- >> you're absolutely right. check the market now down 40% not exactly a slide but down 185 there you have 553. ted cruz is booed last night at the convention. tonight, up donald trump takes the stage. we will say it again. this is the trump show. the convention reaches its crescendo tonight and you can watch it right here. ♪

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>> all right the dow jones industrial average is down 32 points. the dow stands at 18,562. the nasdaq we've got a new high. it reached above $5,100 earlier today . rather weak sales at tractor supply not seen that before. tractor supply has been strong stock recently. now it's down 3.5%. we like to bring you up to date with price of gasoline. look at this. read this and smile. we're at $2.18 per gallon. okay. now that is above the low that we hit earlier this year when it was if a buck 69. so yeah we've come up. but recently we've come down from around 2.40 to 2.18 as i keep on saying i paid what was it there are 1.89 in new jersey. drove around the for three hours to find that didn't you? [laughter]

stuart: cruel. don't tell me that gas is expensive. it's not. >> it is summer driving season too. stuart: i should fill up my tank for $20. >> what are you driving? stuart: i can. $30 -- okay. [laughter] for a dollar 89 i can fill it up. here we go. politics please, ted cruz did not endorse trump last night. trump will speak tonight. he'll try to unite the party. joining us now rachel along with husband republican from wisconsin congressman shawn duffy. my opinion to both of you. maybe it's a bit what are had issue old god, republican old god is out. they lost. big time last night with mr. cruz. what do you say first of all for you rachel. reporter: well first of all i think that ted managed to make donald trump seem gracious and agreed when he's normally seen as the bully. so i think ted cruz is alone on

this. i think rest of the party is starting to come together o. i think ted cruz is by himself on this one. >> shawn, we have peter king saying that ted cruz is a fraud, chris christi says he's selfish that's not a united eater but a divided party with cruz as the target. can donald trump bring it together tonight? what do you say, shawn? >> well i would tell you that you did have somewhat of a divided party between a cruz and donald trump ring. you're seeing unification in the donald trump ring of the par. a year ago we talked about debate in cleveland and ted cruz in his own words said i will endorse the no, nominee no caver attack my family it was i will endorse nominee and he lied and didn't. frankly a lot of us in congress

had real concern with not ted cruz's conservatism because i love his conservatism but the honesty and way he engages american people and those who surround him. i think he appropriately earned lying ted from donald trump. [inaudible] stuart: expecting a really big speech tonight when i say that, i mean, this could have the largest audience for any political speech ever. i mean, it might be that big. i know you're of laking shawn. but all eyes on trump tonight. what do you think? >> well, for me i think it's great. you know, usually you have those politicos watch this stuff at convention an you get a decent turnout but i think america has been intrigued with donald trump. not just the celebrity factor. but also the honesty and frankness with which he talks about about about issues. so i think people who don't

follow politics it will be good. >> i hope he talks about ideas this is a great opportunity for him to explain qeivetive economic ideas to people who don't normally tune in. i think that is something that you know republicans don't often get. anything to say to get minorities and women back into -- not back into, but into the trump boat. raven anything to help enhance that? >> two words, economy and jobs well that's two there. but the other subject is security. the spanish come from places that are dangerous. they come here for the kind of security that we feel until very recently and they also come or for jobs and start businesses twice the rate of average american. talk about jobs, talk about entrepreneurship and sell yourself as a businessman because hispanics love that.

>> i agree that that's american issues. economy upward mobilitity. secure economy in your home and secured security in your community. with isis, china, russia all american whether you're hispanic, african-american, white, asian, all of agree on that. >>might get 30 million to watch >> maybe more. but that would be amazing. you got it. >> you have to circumvent those -- >> go on. >> circumvent and that is incredibly powerful to talk directly to them for 45 minutes and sell your message for your campaign. >> what an opportunity. stuart: shawn and rachel have a good time at that convention please. okay. >> absolutely. inch we are. stuart: thank you everyone. now here's a question, is there a parallel with that british

vote to lead the your honor union and what's happening here in the united states. trump leading an anti-establishment party? is there a parallel between two sides? former strategy for david cameron author of the book, "more human." it was all over the british vote don't leave europe and they did and establishment is say don't vote for donald trump and people will. is that a valid statement? >> you're right and there's a parallel there. and for decades almost irrespective of who is in power conservatives or labor in the u.k. or democrats in america, there's been this rule by ruling elite of bureaucrat and big business that push forward a set of policies that has benefited

them in the wealthiest that have left many, many millions of people behind on low income and losing their jobs, and what you're seeing really is revolt against that. you saw it with brexit vote and seeing it here. and by the way not just limited it to the trump phenomenon . i think it was same thing driving a lot of the support for bernie sanders on the left. i have to bring your attention to front paifnlgt "new york times" today they interviewed donald trump before the convention coverage of yesterday. they did the interview trump emerges to not jump to defense of fellow nato countries attacked and he is suggesting that we should fix our own mess before we get involved overseas. that's pretty -- not radical stuff but very different stuff on foreign policy from donald trump. what do you make of it? >> i think it's another example of how he's challenging failed approach and failed policies have been in place for years

everything that's original or different people say that's crazy how can he possibly do that? all he's saying is that other members should pay their fair share. i don't see what had is unreasonable about that. in fact, i know that president obama made exactly the same point to david cameron when david cameron was saying that he when leading the u.k. wouldn't pay 2% of natural income towards defense spending that u.s. government wanted to see so obama was putting pressure on cameron to do that so trump is saying that he would dot same and doing it more openly. steve hilton comments again soon. great to be with you. >> thanks. much more on all of this in the next hour because we're talking. he's former of the u.k. independence party. he's parking lot guy who helps spearhead that british vote to lead the e.u. 11:45 eastern this morning with nigel and receive two fresh reads are on house

markets. 30-year fixed rate mortgages. average rate there 3.45%. not bad. june existing home sales, were annualized basis we're selling 5.5 million over the course of anyone near. that's up about 1% from the rate of selling in may. lauri how are housing stocks doing? >> well, they're mixed actually. so housing market as a whole is doing okay. combined with yesterday's building numbers which are stronger than expected too. but it is only group right now and also this is reporting better than expected earnings this morning strong in profit wonings again rose more than expected so it is up 2%. up about half a percent. but they aren't enjoying gains other two are at the moment. back to you. >> thank you indeed now become to last night with ted cruz. as you may know by now he was booed at the convention, and he doubled down on his stance taken

yesterday doubled down on it this morning. or more on that in a moment.

♪ >> remember, "varney & company" starts at 9 a.m. eastern. here's what you missed last hour. >> this morning and going forward, i don't intend to say negative things about donald trump.

the media are would love me to. i promise you every question when i step off this stage there's going to be please say something more about that donald trump. come on. it makes good news. what i did say is what all of us should believe an got into politics in the first place. ♪ music

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>> this man is a pathological liar. >> this ted cruz is biggest liar i've ever seen. donald has a problem with strong women. >> i've met a lot tougher than him but never met anybody thactd lie like him. >> donald is a sore loser. >> lying ted. >> he's a train wreck. that's actually not fair to train wrecks. >> holds bible high and then puts bible down, and then he lies. >> if i were in my car ready to reverse and saw donldz in the bagup camera -- i'm not confident which pedal -- [laughter] >> well it was funny stuff. because that was then okay. that was the primary insult season.

it calmed down a bit of a mr. trump are became the nominee but last night, ted cruz refused to endorse directly donald trump. and he was booed off the stage. come on in governor mike huckabee who is watching all of this and for first ten years governor huckabee. it seems this morning, it does seem that when i'm going to call the old god republicans that's bushes and ted cruz, and anti-trump people, very, very unpopular. and they may have united the party because of the hostility to them. let's say you? >> well i think that's exactly right stuart and one of the things that did happen had at least some of them just had had the good dignity not to show up. and try to do what ted cruz did last night which was to accept the gracious invitation to appear on that stage in prime time and instead of using it as an opportunity to keep his word and pledge his support which he

did in that very room a year ago. he used it as a point to try to kick donald trump right in his own party like going to somebody's birthday party walking in the door, knocking the cake on the floor, opening the presents and smashing him and then peeing in the punch bowl. >> not that bad. [laughter] >> yes it is. stuart: wait a second drumple just tweeted this. i'm going to quote directly. trouse ted cruz talks about the scags but doesn't say if dems win the presidency new appointed will destroy us. he's firing back there. what do you make of this, governor? >> i'm glad he did. because i think ted cruz ended his political career last night. he thinks he's being reagan in 1976. but reagan walked on that stage and stood with gerald ford and offered him support. that's not what happened last night, and even people on the

texas delegation are furious with ted he people barszed them last night, and i just can't imagine that hex trust them after saying i'm going to support the nominee even if he's donald trump then your word is dirt if you don't. >> can donald trump pull attention back to him? his party? because a lot of attention went to ted cruzst la night and certainly this morning. now the finale, tonight, donald trump has got to pull it back to him and do something dramatic tonight. >> can he pull attention back to himself? he always does. [laughter] >> that's true. >> i have no doubt about that but this is donald trump's show. it's his time to shine, andful that what -- the reason that what ted cruz

did was so outrageous is because it did distract from the message of the party. but is it also distracted that donald trump has a right to enjoy this moment. he earned votes. look i would have liked to have been on the stage saying i accept your nomination. but i got beat. and when you get beat you can't act like japanese soldiers did 20 years and hiding in caves prengding that you were still fighting the war. some of these guys need to realize war sofer. our war now is with hillary not with each other. you've got to move on and make that -- the focus. >> governor huckabee thank you so much for all of your coverage help is throughout this convention. you will next week. governor huckabee thank you sir, appreciate it. >> you bet. stuart: i want to get to specific stock called humana that stock is halted. department of justice suing to block its deal with etna and now released earnings what have we got on that? >> basically a bombshell that

d.o.j. is moving to block not just humana and etna 34 billion deal but it is anthem and cigna as well. justice department is saying these deals, these mergers and insurance industry will drop the 5 literses to three and they don't want pricing to go up. meanwhile pricing going up in health exchanges so administration is sensitive to that. but here's a real story behind humana and this deal with etna is biggest seller of medicare advantage plan. so administration worried that prices could go up in medicare advantage plan they sell. >> trying to kill them if they possibly can because health insurers out on their own trying to compete or not compete, whatever in the world of obamacare and they're not doing well. >> is that the ?oir >> saying they will, quote, vigorously fight the d. 0*6789o.j. in court. >> still a no show at the convention and donald trump take the stage tonight. this is the main event. you don't want to miss that.

phil robertson of duck dineny used to support ted cruz. find out what he thinks about donald trump now. next. when a moment turns romantic why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis and a $200 savings card.

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and if you have more than one liberty mutual policy, you qualify for a multi-policy discount, saving you money on your car and home coverage. call for a free quote today. liberty stands with you™. liberty mutual insurance. >> guest for you right now duck dineny phil robertson used to be a cruz supporter.

are you now a trump guy as of this morning, phil? >> well stuart i'm listening to your accent and i would say british lineage would i be correct? >> yes, sir, you would. >> well, now listen for the transgressions stuart, i have forgiven king george and you so -- it brings us to an important point. but what ted needs to do is trump meeting fair and square and all of the rest of them too. all of the rest of the candidates trump beat including ted. what they need to do is, they need to forgive mr. trump for whatever had unkind words he said to them touring the -- touring the heat of the campaign. the people have spoken. they said donald trump is the man. i used to support cruz. he lost. ted needs to understand that and made a mistake when he did not.

i'm behind trump because that's the hand that's been dealt by the electorate so i've forgiven cruz and trump and stuart varney all in about three minutes. >> intrigued to be in that company. by the way thank you phil robertson. ted cruz did say this morning that he would forgive donald trump and support him, but he attacked my wife and my father. and didn't say that was unforgivable but implied that's why i'm not forgiving him forgetting it and endorsing him. what do you say to that, phil? >> when the disciples came to jesus and said how many times should we forgive someone when they sin against us, seven because in america it's about three. or if someone says something about your little wife or your father and then they say well that means i can't forgive them.

give people time to change a little. >> okay. >> phil robertson now i'm beginning to understand why your television show is so popular. that was good stuff. >> phil --

♪

. stuart: and good morning, everyone, excitement is building for what may be the most watched political speech of all time. donald trump wraps up the republican convention tonight. and what a show the republicans put on. chaotic, plenty of controversy, but very entertaining. this was not your father's convention, now, was it? last night high drama, one time trump challenger ted cruz was booed off the stage. now, donald trump knew he was not going to get an endorsement, and he showed up just at the right moment during cruz's speech. earlier this morning, cruz doubled down while addressing a group of fired up texas delegates.

old god republicans not popular by not supporting the candidate they are accused of helping hillary. so it's onto tonight. trump will be introduced by his daughter we know that his speech will be focused on make america great again, tens of millions will be tuned in. that is guaranteed. another big day. hour three "varney & company" about to begin. ♪ ♪ . stuart: all right. 90 minutes into the day and down a merely 14 points, seven consecutive record highs and we're off only 15. big tech names, oh, by the way, that's the nasdaq composite hit 2016 high just earlier this morning. here's the big tech names, which we check very, very frequently.

amazon up, apple up at $100 a share. netflix down a bitmore, 86, facebook coming off its all-time record high. but please look at this humanna, the stock is trading again now, the department of justice suing. that's not the point. humanna has come out with earnings. liz, they've got to be good because it's up 5%. liz: yeah, and they raised their outlook for the rest of the year. they've raised a lot more money with the plans and health care services on the stock is moving up just early dialing back a little right now. stuart: up five bucks as i can see. back to cruz and trump and the political drama. do you remember the pledges all the candidacy took at the very first republican debate? here it is. >> senator cruz, yes, or no you will support donald trump if he's the nominee? >> yes. because i gave my word that i would. and then what i have endeavored to do every day in

the senate is do what i said i would do. stuart: okay. that was last summer. fast-forward to this morning, the morning after the speech last night, ted cruz explaining, again, why he did not endorse donald trump. >> i am not in the habit of supporting people who attack my wife and attack my father. and that was not a blanket commitment that if you go and slander and attack heidi that i'm going to nonetheless come like a puppy dog and say thank you very much for maligning my wife and maligning my father. i will note, sir, that you might have a similar view if someone were attacking your wife. . stuart: all right. well, joining us now is the man who made the candidate take that pledge way back when. bret baier, special report host this morning. would i be right in saying that ted cruz is one of the most unpopular republicans in the party as of this morning?

>> if you're in cleveland, that's probably the case, stuart. and i think throughout the party, there's a sense that he may have held long-term. trying to say who stands up for the constitution? but in the way that he did it, it is not sitting well from everybody i've talked to this morning. it was not ronald reagan 1976. ronald reagan at the end of that speech ended it by signaling this endorsement saying how important it was, mr. president to jarrold ford. the place went crazy. if ted cruz in that speech last night came to the end and read the room and said our choices are few, and we need to support donald trump and mike pence or we need to support the republican ticket, the place would have gone crazy. but he didn't do that. and then he extended that moment with the texas delegation q and a this morning. you know, i ask the first question in the first debate august 6th, that was

the hand raising question. you remember that one? . stuart: yeah. >> the one you played is actually from detroit in march, and we then asked again if donald trump were the nominee, would you support him? and that's where you have, yes, that's my word. stuart: now, i want your opinion on john kasich if i may. a no-show, didn't show up at all on the convention floor. we understand that he turned down the vice presidential job even though he was offered quite a lot of power if he took it. he turned it down. your thoughts on john kasich this morning. >> well, john kasich is making a different play. even though this debate is in his hometown, he is not showing up. he's making the jeb bush decision, which on principle they are deciding they're not supporting donald trump and staying away. again, in contrast to ted cruz's decision to come and to accept the prime time address and to still do what he did, that's a different thing. i think kasich will have, you

know, some issues in the party too, depending on how this goes. and it's also a little tough for the trump people because they obviously need ohio and with john kasich and his machine, that's important to get out the vote come novembe n. stuart: now, we're suggesting the republican party this morning is split. but tonight, donald trump wraps up the convention, and it's probably going to be the most watched political speech of all time. this is a moment to try to unify, perhaps around opposition to hillary clinton. what says bret baier? >> well, i would just say i wouldn't stipulate that the party is so fractured. i think, you know, you look at the polls, it's about 82%. mitt romney was about 90% in support of the party. so there's not that big of a gap and every time they talk about the supreme court openings, every time they talk about regulations, every time they talk about things that just by being a republican

president, i think more and more people do get onboard despite their misgivings. now, you're right. the biggest thing, donald trump's speech tonight and how he handles it. if he can convince that he can be president, and they look at him and say maybe. yes, he can be president. and that's his challenge. stuart: tens of millions of people i think will be watching. maybe 30 million people toght. that's just a wild guess on my part, brett. i know you will be one of them, and so will i. >> i hope you're right. i hope they will watch fox. stuart: they will, brett, they will. thank you, brett, very much for joining us. appreciate it. >> thank you. stuart: breaking news reports of a terror arrest in brazil? ashley: yeah, ten members of a group of federal police in brazil believe were in the early stages of planning an attack with the olympics due in brazil in just over two weeks. they're not members of the so-called islamic state but at

least in one case they made contact with that group. they've been following them, they tried to obtain weapons from some site and they got to the point as they were following this group that they felt they had to step in and arrest them. ten members apparently looking to make a mark with the olympics. stuart: and just a couple of weeks before -- ashley: just a couple of weeks before the olympics begin. stuart: i want to get back to the markets. we were down a little. not a big sell off, down 19, 20 points, that's all the downside. despite seven consecutive record highs. morgan is with us. maverick pack cochair. morgan, welcome back to the program. you've got a backdrop of the cleveland convention, it's right behind you. i have to ask this question. i'm sitting in new york close to wall street, records across the board, you're at the convention, you're in the political arena, is there any connection between the two? what's going on with hillary, the democrats, the republicans, and what's going

on on wall street? any connection? >> well, stuart, you have record ratings for your show, so maybe it's you. stuart: oh, stop it. stop it. you're right about the ratings but stop the connection. that's not true. is this a -- maybe when hillary's in front in the polls, the market is catching her up, the politics in the market. >> here's the one thing that i think has gone on for the past seven years in this administration but especially this past year is uncertainty. there's uncertainty in business, uncertainty in the economy, uncertainty in our politics. so therefore what people are looking for is a strong and steady leader, so i wouldn't be surprised if there's a correlation. because when people talk about proposals that are going to get the workers back to work. eric trump talked last night saying my father is going to work for you. and that's if republicans or democrats want to win in

december, they need to capture is that they are working for the average person to get them back to work, to get cash off the balance sheets of corporations and to get the regulators off everyone's bac b. stuart: so you're making a connection between the strength of donald trump and the strength of the market. you're not considering hillary in this whatsoever. let's suppose that hillary looks like she's going to win the election in november. does the market hold at these record high levels? >> you know, listen, we'll have to see what happens. with brexit, we thought that the world was going to fall down; right? like the sky was falling whenever the brexit happened. oops that didn't happen. so we'll have t to see what policies are put in place. i'm not confident that elizabeth warren is in charge of the treasury that we will actually have the stock market rally going forward. so we'll have to see. but beth warren and bernie sanders in charge of the economy for hillary clinton that's not good.

stuart: that's very true indeed. thank you approach joining us, morgan, i'm sorry to cut it short. i want to get back to tonight, billionaire tech investor peter, he's one of the first guys to get into facebook, by the way, amongst other big companies that related strongly. look who's with us for the hour. risk and reward host deirdre bolton, along with of course ashley webster and elizabeth macdonald. deirdre, the rest of silicon valley all those tech guys, they're not happy with peter teal. >> they're not happy with peter teal, peter teal is the donald trump of silicon valley if you want to put the outside label on teal. and i think that's part of why come out and support donald trump. he was even spoofed in the tv show silicon valley, he's known to be not having exactly the same profile as everybody else. i want to go off encryption, antitrust, free trade, all issues that silicon valley hates about trump, teal doesn't care. he's he's a rich man.

he made his comments in the 1920s the last time you could be optimistic when women didn't have the right to vote. thiel says what he thinks, nobody has a copy of his speech. liz: it's a backdrop of the open letter signed by nearly 150 people in silicon valley, including people from apple and facebook and twitter saying trump is bad for innovation. you know, basically saying that look at what he's saying about apple hiring overseas. stuart: i want to see what peter thiel says tonight. that's going to be interesting. listen to that word. check the markets, still down a mere 16 points. that ain't no sell off. down at 18,578. nigel, former leader of the uk independence party. one of the masterminds of the british exit vote. does he see parallels between that vote in britain and the election coming up here? he's on the show, and we'll ask him ♪

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. stuart: how big this? june existing home sales hit a nine-year high. look at the homebuilders. only one of them is up. southwest airlines got a computer melt down, it's mostly fit, they say. but 220 flights have been canceled just today. shares are on track of the worst single day session in seven years. and, by the way, the company also warned of a slow down to come. down 8%. you are buying stuff onebay. yes, you are. higher sales raised its forecast. up it goes. would you believe 10% on ebay? that's good. a journalist for gq sent out a very offensive tweet about patricia smith, mother of one of the benghazi victims. i hate to do this, but i'm going to show it to you. i don't care how many children pat smith lost, i would like to beat her to death. get rid of it, please, i don't want it on the screen.

on the other side a writer was banned from twitter earlier this week for sending an offensive tweet. it was offensive. the guy is banned, the gq writer who wrote that dreadful stuff, he's still got an active account. that's a double standard. >> it is a double standard. twitter messed up; right? no other wait to say it. stuart: yeah. >> and some people have been pointing out, oh, i guess if you're friend with the founder, jack dorsey, you have a little bit more pull because leslie jones actually complained on twitter. stuart: a cute guy? >> no. jack dorsey is the founder of twitter. stuart: right. >> and tweeted out this sort of thing this shouldn't happen on twitter, she was getting racist comments and hateful comments. ashley: from the reporter. she was the ghostbusters star; right? >> exactly. so she complained, jack dorsey, founder of twitter wrote back to her saying we're going to take care of this. now, the reporter he did, i do want to make clear obviously was talking about the -- that horrible tweet that you had up trying not to repeat it. stuart: please don't.

>> and he's apologized, i'm not saying that's okay. the it was horrifying. stuart: so the guy who wrote the tweet about patricia smith has an active account. the person who wrote an offensive set of tweets was banned. that means twitter's got a problem. >> yes. stuart: and that explains why twitter never goes up, still around $18 a share, way beyond where it was a year ago, two years ago, that's outrageous. that really is. >> double standard. stuart: double standard. thank you. 18 on twitter. let's get back to the convention, please. the big show is tonight donald trump's speech may be 30 million will watch it. maybe more. biggest political speech ever. but the old republicans after last night's performance by ted cruz, they are not popula popular. real clear politics associate editor. ab, thank you very much for coming on the show today. it's great to have you with us

this morning. i'm saying old guard republicans wildly unpopular. is that accurate? >> well, ted cruz is not an old guard republican, he's an insurgent as you know, he's made a lot of enemies in washington going up against the second amendment and the old guard. and last night the old guard to the against of donald trump. the rnc called it classless, not the place for ted cruz to come after being invited to speak at donald trump's nominating convention for him to, you know, overtlyfail to endorse him and imply that he was opposed to him. so, yes, i think we're seeing a shift with this convention but i think what you saw with the rules committee and the reaction to ted cruz's speech actually is the establishment and the rnc and party leaders really trying to protect donald trump that unifies the

party. stuart: so there's a drift toward trump because of last night and some of the events in the recent past. now, what do you want to see? what do you expect tonight? >> well, the best thing for him to do is give a very well written focus speech. he shouldn't be ad-libbing like he likes to do. he should stick to a script that unifies the party that is very focused and far reaching that invites new voters in who perhaps aren't just partisan republicans. and who after a week of a lot of conversation on the convention floor about what's wrong and what's frightening us perhaps be a little bit more optimistic and specific about how he can improve the country and make america great again. i think he has to not talk about his old rivals and move on to the future. stuart: i mean he could bring in a lot of people who don't normally watch political speeches. in fact, i'm sure that's what he's going to do. >> right. stuart: it's a huge opportunity to appeal t to a whole group of voters who

wouldn't normally be caught dead watching a political convention. we think that maybe 30 million or more people will watch tonight. big opportunity tonight. >> i mean, listen, stuart, there are democrats that could be watching, independents that could be watching, donald trump skeptics are going to be watching, those open to donald trump will be watching, everyone will be focused on the speech and if they miss it, they'll watch later or read all about it tomorrow. so it is a huge opportunity as you said for him to reach out to a broader audience, reintroduce himself, and really talk about the -- you know, his positive leadership attributes and instead of like i said he needs to resist the temptation of what ted cruz did last night and go through old grievances, which is what he sometimes likes to do. stuart: that's right. he does. >> he needs to be focused and positive. stuart: i'm jealous, ab. because you're there, you can watch this occasion, and i won't be there. i might be asleep. but nonetheless thank you very much indeed for joining us today. great to have you on the show.

we'll see you again soon. thank you. >> thank you. stuart: check that market because it's kind of going nowhere. we're down only 14 points after seven consecutive record highs. and about half the dow stocks are up and half of them are down. a flag burning outside the convention, the left promised big protests. we didn't get them. explore that one. you both have a

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stuart: what happened to all the mayhem? we were told that there were going to be blood on the streets right outside the convention center in cleveland. they were issued gas masks to the reporters and the police, there were high fences, what happened? well, we did see a flag burning and not much else. i ask you, jeff flock, you're there. what happened to all the violence and the mayhem? >> i'm going to give you two solutions to that. we were just talking -- this guy is from akron, ohio, by the way. police officers and this place is packed with the police. they've done a great job. one protester did say -- you know, the republicans are screwing up their own convention, you know? everything from the speech that donald trump's wife gave to ted cruz. so, listen, we'll let them screw the convention up on their own. they're doing a fine job of it. but other people think today this could be the day that

people are waiting for. there's a big protest march and then here in the city square, there's going to be a big rally tonight when donald trump speaks. right now, though, i think they've got a great crowd control measure. turn the water on. this will clear people out of the square. if it gets much hotter, i might walk in it myself, though. it's pretty hot out. stuart: i don't mean to be premature, maybe we'll see significant protest activity later on today, and i'm sure you're there to cover it. so only time will tell, and we shall wait and see. thanks, jeff. we'll see you later. check that big board. we're just hovering around a minus 16, minus 17 very little action thus far today. half the dow stocks up, half of them are down. nigel ferrage, key figure in the british exit vote, he's in cleveland for the convention, what does he make for our election? he's on the show, we'll ask him.

and race taking center stage at the dnc next week. the philadelphia police unions outraged. we'll explain why. more varney in a moment [bassist] two late nights in tucson.

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sales, ebay raise their forecast, domino's pizza good earnings. let's get you back to "varney and company". ♪

stuart: the latest terror arrest in brazil. ashley: more details to what they were planning.

they were going to attack teams arriving for the olympics which begin in two week. they were encouraged to target uk, us, french and israeli athletes. they were tracked trying to buy weapons in paraguay and authorities in brazil had to move in and the rest them. ten were arrested preplanning this. >> any connection to isis? ashley: they wedged allegiance to isis. stuart: thank you. to the election, the one that took place in britain, britain's vote to leave the european union. and the election here, donald trump is running very much against the establishment. is there such a parallel, the driving force behind the british

leave vote, the former uk independence party leader joining us from cleveland. welcome to the program. is there a parallel? i think there is. your vote in britain the beltway, middle america or real america field and crucially the reason we got brexit in spite of the fact the entire establishment said we shouldn't do this, the sky would call in, and the reason we won was we motivated the little people. we motivated the people who have

not voted in any election, given up the system and they saw with the brexit vote they could change things. the trump campaign, disaffected blue-collar workers, a message speaks to them and things can change. stuart: you used to lead the uk independence party and you left. what are you doing now? number 2, why are you here? are you advised by the donald trump camp? >> i was a businessman and got into politics because the european project was bad for democracy, bad for the country and i wanted my country back. we got the referendum, won the referendum.

i have done my bit. why am i here? i was invited. a lot of people want to know how you beat the establishment, how did the brexit vote which nobody in the western world thought was going to happen, a simple story about motivating little people, ordinary people, you go down to the polling station, you can change history. stuart: i expressed a strong opinion about angela merkel, my opinion is this. she ruined europe, she changed europe forever without asking anybody else in the european union. and i coming on too strong? >> you are not. the european project in the 1950s was designed to contain germany. we had two disastrous world wars, the idea was if the club could contain germany so germany could not become the powerful

dominant force, it is a german dominated europe and ift is the euro ze, the misery in the mediterranean with youth unemployment running over 50%, or what she did last july, many migrants across the mediterranean, and on behalf of germany on behalf of the whole of the eu. the biggest policy failure we have seen in the western world for many decades. stuart: can i ask a question about me? i have recently become an american citizen. i have renounced my british original nationality. you are a very english guy. what do you make of someone like me? >> why would you want to do that? i happen to think if you are born english you won the greatest prize in the world and

i would not want to surrender it but this is a great country too. stuart: i asked margaret thatcher that question many years ago and she said why don't you come back? i expected the same response from you. >> you left us and you are not coming back but if you want to, as an american citizen, come back to us and we will be very generous. stuart: i put you on the spot. welcome to america, one helluva place, let me tell you. look at this. the market has taken a leg down. we were down 1050 points ten minutes ago. now we are close on 70 and most of the dow stocks are in the red meaning they are down. not sure what may or may not have just happened but something happened, we are down 67. listen to this.

a college in cleveland wants to help students who feel traumatized by the republican convention in their midst. they are offering safe spaces. can you believe that? back in a moment. ♪

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stuart: can you believe this? case western reserve university, a cleveland college, offering all students safe space for those upset by the proximity of the convention by the republicans. restrain me and give your thoughts. >> university, college, the whole idea is to be exposed to different ideas. seems like that is the right place to be. you had students writing go trump messages in chalk. if you are not going to college to hear a variety ideas. stuart: they are not the ideas they like. what is that? bikers for trump. ashley: i wouldn't imagine. stuart: 40 years ago when i was in college i spent my time vigorously arguing passionately politics and look at me now.

dierdre: i have kids, don't want to pay enormous price tag for my kids to see one way of doing things. it is dysfunctional. of the one hostility from the other side. i got more news, serious stuff. russian athletes lost their appeal, an appeal against being banned from rio. ashley: russian athletes appealed the decision, and artration for sport. some could still compete under a neutral basis. but the country as a whole. >> state-sponsored doping campaign. liz: neil the pics committee has to decide whether to ban them in 9 days or so. stuart: you brought us news of terror arrests in brazil, they were going to go after the athletes.

the zika virus is a big scare. political paralysis in brazil and economic depression in brazil and throw the possible banning of russian athletes and you have a disaster. liz: rio is bankrupt. >> they needed $800 million to compete whether it is physical infrastructure or staff, $800 million more is what organizers aren't needing to make this happen. of the one the last thing the world want to that kind of disaster, failed olympics bad news for everybody, not just those athletes involved. there is always that kind of talk before the olympics, they are not ready. dierdre: not ready with more detail. liz: talk protest at the gop convention, more media than protesters. stuart: forgive me for talking with our colleagues during the break but this is what happens.

how you make the sausage. did you tell me amnesty international has observers in cleveland. liz: they were monitored to observe the police in cleveland expecting protests. black lives matter national leaders said we are not going to show up there. they are going to the democratic convention in philly. of the one highly pejorative on the part of amnesty international saying we expect the police will be nasty. dierdre: a few island nations put the us on a watchlist and advise tourists not to come here. stuart: we are out of time. more varney after this.

stuart: more news on terror. a french prosecutor says the truck driver who conducted the niece terror attack two weeks ago had been planning it for months.

he also said the niece truck driver had accomplices. at that to the news ashley brought us that there have been 10 terror attacks in brazil, 10 arrests in brazil a couple weeks before the olympics, dow industrials down 65. it is yours, charles. charles: appreciate it. whether he meant to or not, ted cruz may have just unify the republican party. this is cavuto coast-to-coast, i'm charles payne, donald trump junior saying the eruption from the republican demonstration is not -- all the proof you need to the parties united behind donald trump. ted cruz is on the defensive. >> this is in the social club. it i is not reagan gave a powerl spch where he said the republican party is not a fraternal orde