the polls. >> great to see everybody. >> enjoy the convention. maria: the democratic national convention in philly all week. don't miss the special prime time coverage beginning at 6 p.m. eastern. i will see you live from the arena floor. that will do it for us this morning. stay with fox business, "varney & company" begins right now. over to you. stuart: thank you. philadelphia, a chaotic opening to a socialist convention, loud boos at every mention of hillary clinton's name and far left policies that would make america just like europe. that's how it started. good morning, everyone. well, right from the get-go, the democrat convention heard bernie's outrage. the booing from his supporters began during the opening prayer and it rarely went away. it was supposed to be a coronation, but it was an angry crowd, a divided crowd. it came together when bernie sanders and senator elizabeth warren attacked the bankers, the billionaires, and income inequality. and they turned this crowd on.

and so did trump bashing, but the enthusiasm last night was for bernie, not for hillary. donald trump riding high in the polls and he's in in the lead and independents, as the democrats convene, he was appealing to disgruntled bernie supporters, i'm the best on trade, he said. he's speaking again within the hour and the media, move along, please, there's nothing to see here. they call the 30 minute republican rules chaos, but in division, the times called unruly. and we'll tell it straight. "varney & company" is about to begin. ♪ all right. everyone, first to france. now, this is a terror story and again, it shows a level of depravity, unthinkable, just a short time ago.

warning, this is ugly. the details are disturbing. two attackers reportedly slit the throat of an 80-year-old priest inside his church. all right, ashley, lay it out. take us through it, what happened. ashley: early morning mass in a tiny church about 150 miles northwest of paris in the normandy area. two suspects sneak in the back door, there's a priest delivering mass, two nuns and two other people inside the church. the priest, as you say, has list throat slit and there are some reports that he was beheaded. i have to say that, there has been no confirmation. the church was quickly surrounded by police and the suspects were ultimately shot and killed. we can tell you that another one of the hostages was very critically injured and is really very close to life or death, may not make it. we know that one of the suspects, according to french authorities was known to them. this person tried to get, and

rejected and reports that he was given an electronic tag which raises some very serious questions how could someone who is so much on their radar allowed to get away with soe this. stuart: and francois hollande has gone to the scene. ashley: it's terror and it is war, he says, we are attack. stuart: i'm going to get to the convention and donald trump's appearance this morning, but not going to let this terror thing go. ambassador john bolten is with us this morning here in new york. i think that europe, after something like this, is very close to communal fighting, where the locals start attacking the invaders. how close are we? >> i think we're very close and i think just a spark could set it off. patrick covar, head of the french internal security agency said in a speech a few weeks ago, he thought that france was close to civil war. he thought that an active

sexual assault in france such as occurred in cologne new year's eve could be the thing that starts it. we've just had multiple attacks in germany. we've had-- >> three-- >> and it's that the public leaders don't protect the people, the people will protect themselves. stuart: it's an interesting question, i was talking the other night with the house committee chair on foreign relations and he says, look, it takes about 25 people, police officers, to surveil one suspect 24/7. police in europe don't have those-- the number of people that they need. they're overwhelmed, they can't stop this? >> and that's exactly right. and the political leaders, unfortunately like political leaders in this country, not to say this is an ideology, the people understand it even if their political leaders don't. stuart: well, liz, with the

depravity of this attack, you behead a priest in his church is a depth that we've not plumed before liz: isis backed groups in yemen. i knew at least two of them, story, my voice breaks, and that's a difficult story in march, more terror in france and when is saudi arabia going to take to the floor of the u.n. to denounce. stuart: we'll have more on the story. thank you. let's go to the market now. the dow is going to take a hit because of mcdonald's. it's a dow stock. we'll get to that. look at oil, that's moving the stock market, we're down to $42 per barrel, a huge glut of this stuff. and another 1% plus. that's why gas keeps falling, about one cent per gallon per

day, 2.15 is the average now. all right, mcdonald's, that stock is going to be down roughly 3% at the opening bell. what's wrong, liz liz: a real surprise. the u.s. same-store sales down. 1.8%. and that's lower than the worldwide sales. stuart: no, they were up 1.8% liz: they rose, not good enough. sorry, thank you for that, i was disturbed by the prior story. rose 1.8, but it was less than what the worldwide same-store sales rose at. so, all day breakfast was last year's story and mcdonald's now moving for fresh beef in certain stores and chicken mcnuggets with no preservatives. garlic fries in the bay area of of california. they're trying. stuart: mcdonald's down 3 bucks and change, and it will affect the dow. to the democrat convention, please, socialism, that's my way of phrasing this on parade

last night from the get-go. during the opening prayer when hillary clinton's name was mentioned bernie supporters booed and booed loudly. and later when bernie took the stage it was all socialism, here he is on income inequality. >> this election is about ending the grotesque level of wealth inequality in america today. stuart: and he hadn't with the bankers, wall street and billionaires. now to senator elizabeth warren, more of the same from her. roll tape. >> people get it, the system is rigged. you know. stuart: okay, i think she was about to say more. steve cortez is with us, he's a trump guy. i know you're going to agree with me. it was just socialism and stuck out to me last night.

bernie and warren have stolen that party. go ahead and agree with me. >> i absolutely agree with you. stuart, we could have gone to the faculty lounge at uc berkley and found more proponents of free enterprise and capitalism than at the democratic national convention in philadelphia. i will concede this, income inequality is a problem, but it's driven by government policy, by crony capitalism and over burdensome regulation. what's facing us, it's many. the answer is not more government, it's less government and freedom. that's what my candidate donald trump is going to promote rather than what we heard last night. stuart: old school radical sociali socialism. and look at donald trump how he

reacted to bernie sanders. here is the tweet. >> sad to watch bernie sanders abandon his revolution. we welcome all voters who want to fix our rigged system and bring back jobs. and trump's pitch is come over because the system is rigged. is that going to work, steve? >> i think it will. at the least, we're going to convince some of those not to vote for hillary and at best convince some that we are on their side. donald trump has never been a politician. he is a true outsider attacking the rigged washington establishment and by the way, what's even more rigged than washington is the democratic party, which is not very democratic, small d, and we now know that base of the leaks of those e-mails. we all suspected it, but now it's proof positive. stuart: there was a pew poll that says that 90% of bernie supporters will vote for hillary. are you discounting that?

>> i think it can change, the number is not set in stone. we've seen a lot of discord in philadelphia on night number one. if that continues, we could persuade that. there's a lot i disagree with bernie sanders on, one they think i agree with him on, washington is a rigged system, coney capitalism is rampant. and it's a bitter harvest, slow growth and income inequality. we need middle class to see the wages grow again and cut taxes and regulation. >> stay with us, steve, we are going to take a look at what donald trump has to say at the bottom of the hour. back to the markets, a look at dow futures, s&p, nasdaq. we're down a little bit and the dow futures are by a poor performance with mcdonald's. now this, bill clinton, bill clinton, he is the headline speaker at the democrat's convention tonight making his

case for hillary. here is the question, will bernie supporters boo him? we'll see. race will take center stage tonight, the others of eric garner, michael brown and other family members of black americans who had family members killed. and the scientific explanation for summer, it's a massive high pressure ridge that traps-- did you know that? it's the last week of july, what do you expect? that means it's going to be really hot, like triple digits across the country and it's going to say that way for most of the week, the last week of july, which is mid summer. got it. bernie sanders tells supporters to get on board and vote for hillary. didn't go down too well. more on this in a moment. >> any objective observer will conclude that based on her ideas and her leadership, hillary clinton must become the next president of the united states.

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>> we have to make sure that we move forward together in a unified way. we know that the voices in this room that are standing up and-- we know that that's not the part that we know. stuart: what you are watching is debbie wasserman schultz being booed out of town. more effects of the wikileaks bombshell. and joining us is the man challenging debbie wasserman schultz for her congressional seat. >> you filed with complaint with the election commission against debbie wasserman schultz. what do you allege she did to you? >> we haven't filed yet. i have lawyers drafting the complaint.

it appears that she used dn achadna-- dnc resources. it's clear that they were monitoring and strategizing how to respond to our campaign. stuart: you're a bernie supporter, i believe, and bernie is telling his supporters go support hillary. would you do that? >> well, i've been saying the whole time that i would lend my support to whoever the convention nominates to the democratic candidate for president and that position has not changed whatsoever. i've got to tell you though i really have not been concentrating that much on the presidential race, i've got five weeks to go before the 30th primary. stuart: and you know the story of the wikileaks e-mail leak. >> yes. stuart: you know what's in it, you know that hillary and the campaign conspired against you guys, bernie supporters. you undermined him-- i mean, all of that hard work that bernie supporters did meant nothing because the system was rigged against him

and his supporters and yet, now, you'll put that all on one side and yet, you'll support hillary if elected, you'll support hillary in the general election. >> i said all along i'd lend my support to whoever the nominee is of the democratic party. there are a lot of hard feelings as a result of the wikileaks. stuart: would you support enthusiastically? >> i'll tell you this, hillary clinton said she would support my opponent and i would hope she would rethink that. we saw yesterday my opponent debbie wasserman schultz is not all that popular not just nationally, even with florida democrats. and i would hope, really, the question, stuart, should be whether hillary clinton or whoever the democratic nominee is if it is hillary, whether she will get behind my candidates i is, especially after i win the august 30th primary against debbie wasserman schultz. stuart: okay. i was watching the convention and the speeches last night and there was a lot of really far left stuff, especially from bernie and from senator warren. i characterize it, essentially,

the democrats have become the socialist party and you're taking us down the road that europe went down generations ago. would you object to that characterization that the democrats are now a socialist party? would you object to that? >> yes, i would object to that, actually. the conference board, which a big business organization had a report some months ago called crony capitalism and they were pointing finger at a lot of government subsidies that helped cartel-like big businesses. perhaps some of the bibig businesses that even advise for you on cable tv. you know, there are millions of dollars, hundreds of millions of dollars in subsidies that go to the big sugar industry that my opponent debbie wasserman schultz has supported, but so have a lot of republicans, all down the line, the federal reserve gave trillions of dollars in low interest rates loans to big bank, that's socialism. stuart: is it? okay, that's interesting. tim, you've got the august 30th primary and we'll follow your progress from there. thank you for joining us. >> thank you, stuart. stuart: a big look at

caterpillar and they've got a downbeat outlook. it's not going to affect the stock that much, but it will be lower. i believe that a dow stock, too. and a union strike, it did take a bite out of verizon's profits, but that will not show up in the stocks, virtually unchanged the a the open. lower for under amour, and took a hit from the sports authority, one of its largest outlets. and the markets will open lower 10, 11 points, that's not much, heavily affected by mcdonald's down about $3. then there is this. eva longoria speaking and stirred up controversy with comments about texas and mexico. wait until you hear what she said. and donald trump stealing the headlines again. minutes from now he'll step up from that podium and we'll take you there live when that happens. more varney in a moment.

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>> he's on his way, we're waiting for donald trump, he's going to appear at that podium. obviously, that's not donald trump himself, but that's at the vfw conference. donald trump will address it moments from now and see him when he appears. steve cortez is with us. steve, i know you're going to

agree with me, and it's good stuff here. you're a trump guy, he's going to steal the headlines all over again. he's going to jump out in front of the news cycle hours before the democrats reconvene in philadelphia. what do you say? >> i agree and, you know, that horrific story from france this morning of the a catholic priest slaughtered at his altar, in a news flow that's incredibly disturbing, this reaches new lows, but shows us what danger we face, we in west in american, our allies in europe. with a dangers we face. the democratic party, 61 speakers, not one mentioned this issue, not one mention of isis. they're incredibly tone deaf is the real worries that americans have, economic and security worries. so i think that donald trump will step up to the podium and promise the american people as president he'll take care of

their economic and national security. you're exactly right, he will steal the narrative away from philadelphia today. stuart: i think you're trying to steal bernie voters and he's going to talk about trade, which is one of the divisive issues, bernie like the tpp and noert does trump. last word to you, steve cortez. >> he's protrade, but smart trade. i'm a negotiator and i'll negotiate fair deals for america. stuart: thank you very much indeed, steve cortez. we'll see you soon. facebook facing more heat for sensoring conservative content is now admitting, yeah, they blocked links to the dnc e-mails, and it's simply a mistake. moments away from the opening

bell. one last look to features, it's a mixed to slightly lower, and slightly up for the tech stocks. opening bell and donald trump next.

..

stuart: coming up to "the opening bell," flat to lower opening, heavily influenced by mcdonald's stock which will be down $3 or $4 taking the dow down further. pretty flat opening, we are off and running. where are we headed?our points. look at the dow 30. half of them are up and half are down and the dow at this moment is up 25 points, same story on the s&p down 0.01%. i call that flat. how about the nasdaq? you got to say that is dead flat. gold struggling back a little bit, 1328.

here is the story, the price of oil. moment ago, $42 a barrel. that affects the stock market, oil has drifted down to 42, you see an end to the big ally, stocks beginning to move, downside move in gasoline, we are down one cent per gallon per day, $2.15 is your average. a couple individual stocks, dupont higher profits and better sales, stock barely reacting, $.40 higher, better sales of united technologies raised its outlook, the market is up to dollars at $1.06, there was a strike at verizon that affected profits but not the start, it is up $.20, lower profit at 3m, they make post-it notes, they make all kinds of other stuff,

down $3 at 176. caterpillar downbeat outlook for the second half of the year and stock is up $.40. we keep a very close eye on mcdonald's. us customer traffic, same-store sales week and they are down $3 as we speak. that takes 30 points away from the dow industrial so without mcdonald's we would be slightly higher. who is with us this morning, ashley webster, liz mcdonald and market watcher and trump guy steve cortez. we are waiting for donald trump to speak and he is about to start speaking and you will hear from him. last night's democrat convention. i say it is now a socialist party and i'm sure a lot of our people are going to agree with that starting with todd horowitz. they are socialists.

>> 100% socialists. i'm going to stop working until next year because i can't take it anymore. stuart: what are you saying? that was garbled, say it again. >> when they start to raise i'm going to stop working and wait till next year to reset it. >> plain and simple english. is this the party of socialism? >> yes. look at what they said yesterday. paul simon spoke of this bridge over troubled waters, socialism is causing the troubled waters. if they think they are bridge by thrusting socialist theories on us they are wrong. look at social programs, hillary clinton is not going to eliminate social programs. if nothing else she is going to pump more money into them to try to get them successful. stuart: big government, big

spending, taxes on the rich, and we hate wall street. >> we have socialism, that is why we are growing more slowly than canada or europe, we have a big entitlement state, the welfare state, socialism is with us in the form of crony capitalism as well. we would just destroyed the whole idea. good start to the day. individual stocks, mcdonald's down 2.5%. what is the problem? >> us growth slowing worse than expected, flatlining up 1.8% versus prior quarter which was 5.4% so slowing 30 what it was in the prior quarter, sales down 3.6% overall, what is struggling is brexit is not bringing more customers. fears that the us vested sector

is in recession. >> it is down $4, more than 3%. the technology stocks have opened and we have several technology stocks moving higher. look at jetblue getting help from lower fuel costs, not much, $.15 gain, higher sales at reynolds american tobacco getting a boost from last year's purchase of laurel log but start going down a little bit, they are losing money, western and sheridan is all you got. under armor, lower profits, they took a hit when sports authority went bankrupt, they are up $.40, a lot of fractional moves by big names, the treatment for diabetes and stomach and lung cancer is up one dollar at 82. how about mobilei, but you never heard of them.

they make chips and software for driverless cars, down big because they are ending their partnership with tesla. down 5 bucks. a little background, what is going on? nicole: with tesla they are not bringing in the revenue, they are just doing support and service for tesla for autonomous vehicles, they beat on earnings, they be on revenue. the call turned this stock down 10% when they said they are ending their relationship with tesla after the third quarter and are going to be joining bmw and intel, to move forward with fully autonomous vehicle technology. they are doing support and services and they said they decided what we decided, that was their quote. pretty much done. stuart: donald trump is about to come out. we won't go there just yet. wait for him to start talking and you will hear what he has to

say. can we put up the price of oil for a moment, very important in today's market, $42 a barrel on oil, almost 43, that is downside movement affecting stocks, todd horwitz, is there a chance oil will drop below 40 and upset the stock market? >> there is always a chance but i believe morgan stanley 35 is a region they will try to bite and it is 32-40, they will want to start to buy oil and slow down the rates to create shortage and see higher prices 42-40, you want to buy again because we will feel weakness in the dollar. every weekend to believe it is here and pushing a little faster than we could get there so they could buy some here. stuart: just as we are talking about oil donald trump takes the

podium. listen in please. stuart: what a privilege to be here. incredible, i mean incredible men and women of the veterans of foreign wars. and we set today and all-time registration record, congratulations to you. spending time with our veterans has been the greatest honor of this campaign. i want to thank commander-in-chief big john, and for the welcome, he has been so fantastic from the time we walked in. many thanks to bob wallace, jessica gilford and your incoming leadership, brian duffy and colette bishop, terrific

people. before going any further today, i would like to bring up to the stage my good friend, governor mike pence. [applause] >> by the way, mike is the son of a soldier and the father of a marine. [applause] >> thank you, mister trump, thank you, it is an honor to greet you at the 117th vfw wher thanks for all you do. it is on honor to stand with donald trump today. it is a greater honor for me to stand with you who have worn the uniform of the united states. as mister trump said, i was not a soldier.

stuart: mike pence, vice presidential candidate, running mate with donald trump. we are listening and i want to talk about donald trump and the stock market. i want to know if a trump win in november is really good news for stocks. i will ask everybody that because trump is in the government. >> elizabeth warren criticized the trump gop convention saying did you hear one economic policy that would add to job growth? yes, came out trump's i came out with her plan after the convention but what economic policy did you hear democrat convention that would add one job? charles: fair point but the criticism of trump is he start a trade war, china and mexico. stuart: some would call him a loose cannon. they don't know what he is going to do. markets hate it. more of the same is better for the market at this point. stuart: i agree with ashley that

you really face that instability problem if trump is elected and initially trump could put the market down. >> first thing to realize is the president is not in charge of controlling the market. hillary clinton is a disaster to the market but donald trump is not going to be able to elevate the market necessarily. stuart: if he gets elected in the first thing he does is i have a tax-cut plan to die for. i look at individual taxes, corporate taxes, that would surely produce a market rally. >> more money in people's wallets, he has a trade war, china, mexico retaliated in the past attacking tariffs but congress would be a check on mister trump. >> there will be short-term pain we have to endure. clearly the economy will be in

better shape under trump but we have to endure some short-term things. there is a lot of distortion about the prices now that we have to contend with and the reality of it is interest rates need to go up. of interest rates do not go up in a healthy way we are still distorting asset prices, still creating leverage and there is a problem and donald trump, although better, cannot rescue the market. stuart: that is interesting, not too technical. we gathered what you got to say. if trump wins in november does the market rally big time? >> no. trump will be good for the market long-term. short-term it doesn't matter who comes into office, the market is at a point where it will sell off the same as it was when obama came in. it was going to rally no matter who came to office, now whoever comes into the market the markets will sell off. doesn't matter at this point.

stuart: back to donald trump who resumed his place at the microphone listening. stuart: >> veterans of foreign wars represent the very very best of america. when i am president i pledge to work closely with your organization and your members to accomplish our shared goals. our veterans are the bravest and finest people on earth. >> the members of your organization have fought for the american plan and boy have you thought, on distant battlefields all across the world. your members have shed their blood and poured out their hearts for this nation like nobody else. our debt to you is eternal.

yet our politicians have totally failed you. are most basic commitment, to provide health and medical care to those who fought for us so bravely has been violated completely. the va scandal that occurred are widespread and totally inexcusable. as we know, many have died waiting for care that never came, a permanent stain on our government. can you imagine the waste and corruption, and i tell you we will find it and we will find it big-league, when i become president in january 2017.

i have recently released a detailed 10 step veterans reform plan and we have worked on the plan with the chairman of the veterans affairs committee in the house and a really good guy who loves the veterans, jeff miller. he is a good man. we are going to take care of our veterans like they have never been taken care of before. [applause] >> the other candidate in this race, crooked hillary clinton. believe me, she is crooked, has a much different view. she recently said of the va

scandal that it is not as widespread as it has been purported to be. like she is trying to sweep it under the rug which politicians have done for years and years, it will be four more years of the same if she got in. make america great again. thank you. we know how she takes care of the veterans. look at her invasion of libya and her handling of benghazi. a disaster. look at her emails which put her national security at risk. and to think she was here yesterday. i guess she didn't do very well.

we are going to bring honesty back to government and that starts with fixing the veterans administration. we will fix it. here is my ten step plan for veterans reform. one, i will appoint a secretary of veterans affairs who will make it their personal mission to clean up the va. this person, man or woman, will be outstanding with an outstanding track record. in other words, a person that can get it done. number 2, i am going to use every lawful authority to remove and discipline federal employees or managers who breach their

public trust. three. i will ask congress to pass a bill giving the va secretary full authority to remove or discipline any employee who risks the health, safety or well-being of a veteran. [applause] >> i will appoint a commission to investigate all of the wrongdoing at the the a of which there is plenty and then present those findings to congress as the basis for reforming the entire system. 5. i am going to make sure that the honest and dedicated people of the va, of which we have many, have their jobs protected and are put in line for promotion

when they do a good job. we are going to get them promoted like they deserve. [applause] >> i will create a private white house hotline. this could keep me very busy at night, folks. this will take the place of twitter. a lot of truth to that. that is answered by a real person 24 hours a day to make sure no valid complaints about the va ever falls through the cracks. [applause] >> this is the tough part. this is the tough part. i will instruct my staff that if a valid complaint is not acted upon, then the issue were who brought it directly to me will bring it directly to me and i

will pick up the phone personally and get it completed and get it taken care of. that is a lot of work. we better do a good job because that is a lot of work but i want to have somebody, a real person and a really competent person in the white house with that hotline going and if that person is not doing the job i am going to find out about it and that is the best way to find out about it. that is called real life. that is called business. >> instead of giving bonuses to employees who are wasting money we are going to create a new incentive program that rewards employees for saving money and improving the quality of care. [applause] >> our visa programs will be reformed to ensure that veterans are put in the front of the line for jobs in this country.

they fought and protected, now we -- they will be put right in the front of the line and these are our great people. by the way, governor pens is right at the top of the nation in employment for that's. he was number 32 or 38, now he is at the top. he has done an incredible job with respect to employment for that's. good going, keep it going. we are going to increase the number of mental health care professionals and increase mental health outreach for veterans outside of the system, so important. we are going to ensure every veteran in america gets timely access to top quality care including the best care in the

world for our female veterans. [applause] >> the veterans health system will remain a public system because it is a public trust but never again will we allow any veteran to suffer or die waiting for care. that means veterans will have the right to go to a va facility or the right to see a private doctor or clinic of their choice, whatever is fastest and best for the veteran. no more 5-day weights. if you are waiting in line you will goto a private doctor across the street, a public or private hospital across the street or nearby and you will be taken care of quickly and efficiently. people waiting in line 5 days, 6 days, 7 days, many are dying with a simple procedure they would live, and they are dying because they can't even get to

see their doctor. there is not going to be any more of that and we will pick up the bill. it will cost us less money and it will be amazing. you have my word on that. [applause] >> come january 20th, if i'm elected president you are going to notice a change in the va and the whole entire government system which is a mess. [applause] >> all you have to do is try to get on an airplane and you will see what a mess it is. a change in attitude and a change in results will absolutely take place so fast right at the beginning, government is going to start working for the people again, the special interests opposing our reform, and they do oppose it for their own reasons, and

reform for america, the same people who have led us to one economic and foreign policy disaster after another. the global corporations and the media executives who oppose our plans, they are opposing them strongly, we need plans for change and we want to keep the system in place except for the section that is really good, and that is a lot of it. we are getting rid of our rigged system. i started using that term a year and a half ago and now everybody is using it. this morning i was watching one of the democrats who i have been talking about as a rigged system, use the word rigged system. i have to come up with another word, very sad. but the system is rigged, so badly rigged and rigged against the veterans too. that is why their message is

that things can't change. with these people they can't change. these are the same special interests who have driven the economy into the ground and created one calamity after another overseas, horrible thought process. theseashington interests are telling americans to stay the course, telling us that we can't fix our trade deals, we can't fix our va or we can't fix our broken tax system or we can't fix immigration, because they are benefiting from the status quo. they don't want to change. we need change, they don't want to change. my messages the opposite. things have to change, and they have to change right now.

[applause] >> here is just some of the change we need. we need to change our tax, energy and regulatory policy to produce millions of new jobs and trillions in new wealth and invest in our country and in our infrastructure which is falling apart all over this country. our roads, tunnels, bridges, airports, infrastructure is that of a third world country. not anymore. i am very good at building, remember that. i built under time and under budget. very important. you don't hear that from government very often. those who seek to raise taxes and expand regulation will only weaken our country. hamstring our economy and throw many millions more out of work

and as you know, hillary clinton want to institute a massive tax increase and we are already just about the highest taxed nation in the world. our immigration system must also be fixed so it lifts people out of poverty instead of throwing them into poverty which it is doing right now. our terrible trade deals must be renegotiated. nafta is a disaster. to keep jobs and wealth in america, we are sending our jobs away. stuart: you are watching donald trump speaking the morning after the first night of the democrats convention which was last night in philadelphia. he is addressing the vfw conference, he has addressed the issue of healthcare for veterans, vouchers is what we

need, he says. he has also called for changing tax, regulatory and energy policies. we will take a short break, back with more in two minutes.

stuart: 7:00 in california. donald trump is speaking. good morning, everyone. what donald trump has said so far as he wants changes in the tax, regulatory and energy policies. he wants to fix the immigration system, renegotiate trade deals. that is what he said so far. back to him in a moment. star turn of the democrats convention tonight will be bill clinton, the primetime speaker of the democratic convention. his job, rally a divided crowd. hillary's aids are working hard to stop the blue esther chang from bernie supporters. they turned the convention into chaos last night.

a fascinating spectacle, divided democrats have taken a sharp left turn. they sound like european socialists. donald trump is talking growth, security and lower taxes. he looks like the new republican party. i have to say this. there is another story. another dreadful outrage in france. a church invaded. attackers slit the throat of a priest during mass. depravity in the extreme, europe on the brink of civil strife. quickly to the markets, see what is happening, we are up 9 points, i call this dead flat. mcdonald's is the individual stock making news, us customer

traffic is weak and the stock is down 3.5%. ashley: very impressive, 78 higher, annual rate of 592,000. stuart: that is not right. how many? 592,000. that is strong. >> the existing home at a 9-year high. stuart: that may know difference to the overall market, but they are moving a little bit but the dow industrial still at 15 points but that is a strong performance on new home sales. now show me netflix, that is getting a pop. one of the company's directors buying a big chunk of stock and it is up nearly $5, netflix at 92. microsoft hitting a 16 year high. i do own some of it, i'm smiling, $57.60, microsoft this morning. lower profit and underarm are taking a hit from the sports

authority bankruptcy, one of its biggest outlets, not much of a hit but stock is down $.20. apple, one investment firm, apple reports profits after the bill today, dead flat this morning. oil marco $44 a barrel, we are swimming in this, it is going to down to $35 a barrel at some point this year, 42 right now. that is where we are. donald trump has finished speaking, he was addressing the veterans of foreign wars annual convention. you can see himleaving the stage, leaving the auditorium. he spoke for 25 minutes. i was taking notes, the overall characterization was low taxes, fixed the regulatory system and fix energy.

liz: hillary rodham clinton spoke monday, speaking about national security, the president trash talks america, she says i don't want to privatize veterans care, donald trump has a plan, he offered meeting, private-sector doctor. stuart: aaron elmore is a trump supporter, she also watched the speech, it was 25 minutes long. i was a little surprised. i thought he would make a direct pitch for bernie sanders supporters, come on over, you and i agree on trade, not disappointed but surprised he didn't bring up this awful terror attack in france where a priest has been murdered while saying mass. he didn't go in either of those directions and i want to know why. >> i think he wants to win north carolina and stay on message

with the veterans. a lot of terrible things are happening, he wants to win over north carolina, get these veterans, he had to say what he had to say. stuart: he was staying on message. it looked like he was using a teleprompter and really broke away from prepared remarks. i don't get that. he is a brilliant speaker off-the-cuff and last night at the democrat convention he had a lot of material. >> you and i love his candor. so much material and he loves to crack a joke more than anyone with debbie wasserman schultz. he had a lot of material. and the refined polished professional on message donald trump. ashley: the campaign is trying to rein him in. he doesn't want to make a gaffe

with democrats all gathered in philadelphia, play safe. stuart: it is not the same. keep going back to this. he was attacked up and down last night. they had a go at him but no response this morning. >> i'm surprised too, he is flying high right now like he doesn't have to say anything because they make misstep after misstep. he is probably smiling like a cheshire cat. stuart: it is cheshire. >> i am sorry. stuart: do you think he won that audience this morning? >> reporter: i think he did. he said what they needed and wanted to hear. the the a is disastrous and they need a lot of help.

away from their families in harm's way this is a message they needed. all the little jokes that come with a donald trump speech. i love the energetic off-the-cuff donald trump, not just -- say what he had to say. stuart: i want to clear up something, he was addressing the veterans of foreign wars and he says we got to fix the system, part of this fix is vouchers, you need to go to a private doctor, you don't want to wait in line. point this out to me again, that is the direct opposite of what hillary clinton said to the same group. liz: hillary clinton said i want to reform but didn't have a

plan. it is not total privatization giving vets an option to go outside the system. we had thousands according to one analysis that's dying while waiting for care from the va. this is a long time running scandal at the va, a speech in north carolina, battleground state, red or blue. stuart: my next guest is a money guy, and economic advisor, chairman and ceo of ubs americas, welcome to the program. i am intrigued a guy like you, you are a former banker, how do you see elizabeth for and beating up on bank like nobody's

business last night. >> as someone who ran a bank, the past half-dozen years or so, the far left and the far right used the banking system as a believe pulpit. i don't listen to the real populist or nationalist rhetoric. i more center left about the better policies and the economy and foreign policy, clearly secretary clinton would be the best to lead our country. stuart: she is very much a wall street type, she has taken more money than any other democrat. >> she was a senator from new york and financial services, a large sector but i don't think we give money because of where regulation is going. like everyone on your set, this

whole stereotype of we give money because we think the way we give regulation -- stuart: interesting. you are a money guy, former banker, you know about the economy, explain to me how hillary's policies are essentially spend more government money, tax the rich and keep in place regulation. i know you are laughing but can you explain to our viewers in every day terms everyone can understand how we get full% growth with policies like that? >> i could debate what you stereotype hillary clinton's plan as, the sent for a responsible budget said trump's

plan would at $11 trillion in deficit and the secretary's plan would add $250 billion. for a group like the republicans they should be stomping on the trump plan. let's start with infrastructure. and if hillary clinton is elected president and put in place the policies she talked about will be get 4% growth? >> it is a bunch of different things, not just the agenda of the president, the house and the senate. there will be a lot more maneuverability to take care of, and looking at -- stuart: i hate to interrupt you.

when you say a democrats is tax reform, tax increase on the rich, who is going to get that? >> let's be clear. let's differentiate between personal income tax and business income tax. on business income tax president obama has come out that he wants business income tax to go to 28% and manufacturing for 25%. we both know that is lowering taxes for business, not increasing taxes for business. you are talking about trickle-down economics, personal income tax driving consumption. we know the last decade trickle-down economics has not worked. the middle-class has been lost in trickle-down economics. i am here as long as you want. stuart: you know how it works in television. you come up to a hard break.

it was fun. >> always an honor to be on. >> i wish you luck as a new member of the socialist party of the united states of america. >> i am center left and supporting secretary clinton. stuart: i hate to see america go the same way. >> you may be back at brexit land. stuart: thanks a lot. got to bring you more on the terror attack in france. two attackers enter a church during mass, they kill a priest and hold others hostage. we have breaking new details on this story coming up. stay right there. one place you won't hear about that attack, democrat national convention. a string of high-profile speakers, no mention of terrorism last night at all. we will be back.

stuart: a dreadful story from france, two attackers go to the back door of an old church, they take the people in their, they slip the throat, some reports say they decapitated, beheaded the priest, they shot the two attackers dead and the hostages were released. >> the two attackers, they were inside the church after french authorities had been arrested. that is what they are saying. the reports continue to grow. and an electronic ankle tag was being traced, and unsupervised in morning hours, supposed to be

living with his parents and this attack happened in the hours of 9:00 am to 11:00 :00 am. this will add to the outrage. reports this church was listed on a terror hit list discovered earlier this year. stuart: a trump delegate, far from the politics of this, it seems to us in france in particular, could be on the verge of civil strife, whether the local population attacks the invaders. putting that in stark terms. i we that close? >> we are that close. germany attacks as well. this is radical islamic terror. it is craziness and here we are at the democratic convention. we can't get away from the politics. the reason isis and islamic

radicalism is growing is because we haven't been able to zero in and hit their command and control center and give them not only a military defeat but a pr defeat. no one will join an organization that is dying. people join organizations that are growing and the fact of the matter is isis is growing. it grew under hillary rodham clinton as secretary of state and in eight years of barack obama there is no denying we are not able to stop isis. a coalition of 63 members, that is what president obama tells us, 63 countries that are trying to stoisis. i dot believe countes i seriously on a daily basis trying to defeat isis. we alone, the united states, could defeat isis if we had timely intelligence and removal -- stuart: donald trump made a

speech 25 minutes long, the the fw convention. he did not bring up the french terror attack, he did not bring up the clash going on in europe at this moment. he didn't exploit it, he didn't mention it. i was surprised at that because security and anti-terror is trump'sstrong suit. why didn't he mention it? >> i'm not on the trump campaign so i can't tell you why he didn't mention it this morning. trump is the law and order candidate. and isis will be defeated. multiple speeches, we didn't hear about isis or islamic radicalism growing. we have to getmore serious about this issue and we are not. stuart: we will see what is happening. back to the markets. it is a go nowhere market. we have solid news on new home

sales, made no impact on wall street at all. we have lower profits, ceo sheldon abelson says there is a turnaround, the stock is up nearly 5%. caterpillar, dow stock, down for the second outlook of the year, stock is up, what is going on here? up $4. >> there's a lot going on, netflix faced competition from amazon and amazon made some headway but what we are seeing right now. of the one that is insider buying. >> this anticipation that netflix has cornered the market on content, they are always going to be a takeover target and a lot of people are growing very confident. stuart: you like it and it might

go up some. >> i was on your show. i love netflix when nobody likes it. the reality is they own the market and will continue. >> netflix will be in its cable top box, access to 22 million. stuart: if i got comcast i click a button on my tv screen. you set with us for a couple hours and we appreciate it. thank you very much. president obama's refugee plan under fire, 6700 syrian migrants have settled in theus this year. only 23 of them were christians. democrats asking illegal immigrants to speak at the dnc. a police officer killed by an illegal immigrant, going to be on the show to give her thoughts about the democrats and her performance. a mexican newspaper calling for

trump style border wall, they want to keep the rest of central america out of mexico. we will be back.

stuart: there is an upbeat forecast, a top performer of all the 500 stocks, it is up 6.7%. one of mexico's border wall, to keep central america -- ashley: the newspaper say of all donald trump describes should be in the southeast border, that is the entry point of thousands upon thousands, guatemalan, hondurans, trying to get into

the united states. the reason they want the wall as many don't make it into the us. they are often deported and trapped at the mexican border. the crime rate in northern mexican communities, they have no means of survival so they turn to crime. they are trapped at the northern mexico border. stuart: that echoes what donald trump is saying in the united states. stuart: look at mcdonald's, they are down $5, lackluster sales in america, they can characterize it. and this. a string of terror attacks across europe some of them

involving syrian refugees. president obama allowed 6700 throughout the year so far this year. 23 of them are christians. bernie sanders, vote for hillary. the blues did not go away. >> to the bernie or bust people, you are being ridiculous. ♪

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[inaudible conversations] stuart: well, that was outside the convention center in philadelphia yesterday. inside it was pretty much the same thing. you see a sign there for never

hillary, plenty of bernie signs. whenever hillary's name was mentioned, at least in the early part of the session yesterday, there were loud boos from bernie supporters. a very much divided convention. chuck rocha is with us now. he's always got a smile on his face, but you know, chuck, you were betrayed. you worked hard for bernie sanders, and the democrat party undermined him consistently and forced him out. are you going to boo tonight when bill clinton appears? >> no, i'm not going to boo. i don't want donald trump to be the president. but it was an emotional roller coaster last night. and you're right, varney, did the party on the up and up, i was on this campaign for over a year, right? there's a lot of our supporters here who are very passionate about this convention, about the platform and about the things that we built with this revolution, so it was an emotional roller coaster. not everybody will be on the hillary train, but you're going to see some of the people who

are just never going to be with her x it'll be interesting what happens tonight. stuart: look, for once this my life i feel for you, chuck, i really do -- [laughter] you put a lot of hard work into bernie sanders' campaign, you really did. i don't think this anger is over. i mean, day one of the convention is over, okay, say good-bye to it. but day two, three and four still to come. i think you guys are still going to make yourselves very well loudly heard, i think. be. >> well, i think that it's hard to bring a really fast-moving train to a stop on a dime, and i don't know how it stops or where it stops, but we built something. we built a movement. and i think the majority of that movement will go with hillary and her team. but i think there's parts of this movement who will continue on through their local politics, through their local parties, make sure their issues are heard all across the country, because i think bernie sanders change the way we do politickings on the democratic side. stuart: i also think he had a huge impact on democrats and their policy going forward.

bernie sanders and elizabeth warren together have produced what i think a socialist party. the democrats are a socialist party. now, you're not going to disagree with me, are you? >> i'm going to say that we're for clean water and clean air and try to make sure every worker has a right. if that's being a socialist, e sure people have a voice. stuart: keep all the banks from private enterprise tightly regulated, tax the rich and forget about the deficit. i i call that european socialism. what do you say? >> well, i think that the democratic party is a big tent. i don't think anybody here at the democratic party is waving socialist signs. i understand all of the things that you said, varney. on the taxation, we've talked about this. i own a small business, it's an llc, i get taxed very heavily. the if i was to make a little bit of money, i think we should be giving small businesses like mine a bigger break so we can help put more money into the economy. stuart: you know, chuck, come on over to the other side. [laughter]

growth. let's get this economy going -- >> that would be a headline, wouldn't it? stuart: this great engine of growth, which is american capitalism. there's room for you on this side of the fence as well, you know, chuck. >> what a headline that would, varney gets socialist chuck rocha to come over to the republican side. [laughter] stuart: i could live with that. >> thank you, varney. thanks for having us. stuart: now, a more serious subject, me rabbiting about social -- ranting about socialism, okay? so far just year america has let 6,726 syrian refugees into this country. of that total only 23 are christians. look who's here on the set in new york, trump foreign policy adviser walid phares. i'm astonished at that. 23 christians out of 6,700 people coming here? how did it happen? >> 10, 15% of syria are christians. stuart: right. >> yet if you look at this propowrgs of numbers, this is -- proportion of numbers, this is

less than 2%. stuart: murdered en masse in syria. >> beheaded, the chumps are burning -- churches are burping. very clearly it would be for that group and any other individual. but why this number is very low -- stuart: why? why is that? >> ngos of christian sir yaps are telling me -- syrians are telling me the administration is not really listening to them. they're not making enough case for them. stuart: that's extraordinary. >> it is. stuart: it's almost unbelievable that we are doing this. the christians in the middle east are being kicked out and slaughtered en masse, beheaded and crucified in some elements, and this is being done to them by islam. and yet we let islam in, or but we don't let christians in. >> they were started by jihadists, by isis. let me give you the worstcase. the yazidis, 400,000 have been ethnic cleansed. this is almost genocide. yet they have not been contacted to be brought to the united states, canada or other places x that's a population which is about to vanish.

stuart: now, i want to the bring to your attention what's been going on at this church in france. i know you know the story, but i'll tell our viewers. two attackers got in the back door of a church whilst mass was being celebrated. they took hostages including two nuns and a priest. they slit the priest's throat. some say he was beheaded. nonetheless, that happened in a church in france today. that was, that is such a depraved act. it's another depraved act. i haveto think that urban warfare is coming to france. that's not an exaggeration. >> these are the early drops of that heavy cloud of what you call urban jihadi warfare. but killing that priest, slaughtering him, is basically the last red line. there's nothing after that in the church. even if other islamist militias have not gone to the slaughter of priests, this jihadi network in france is extremely dangerous, and the french people are under extreme danger at this point.

stuart: now, we've gone through various phases. phase one was europe says, come on in, we'll let you in the door. phase two is, whoa, we can't cope. hold on, no more. phase three is, go home. we're not there yet, but we're getting close, aren't we? >> when you get to phase three, when the jihadists will wage urban guerrilla warfare. because the goal of isis is to get in. once the public is nervous, pressure the government, the government takes action. what happens in many cities? the jihadis are going to do what you saw over the last many days. stuart: the president of france today used the word war. it's extraordinary stuff. >> we didn't hear it yesterday, by the way, in philadelphia. stuart: no, we did not. >> maybe today. stuart: you're a foreign policy adviser to donald trumpsome. >> i am. and i was very concerned that yesterday during the whole day, a whole day we haven't heard one word with about isis, one word about the iran deal, one word about the jihadists, nothing about these events.

stuart donald trump spoke this morn being, i thought he might speak about the events in france. >> he will. this is a priest slaughtered. believe me, donald trump will talk about it. stuart: thank you for joining us, appreciate it. check that market, it's a go-nowhere market, we're down a mere 15, 16 points, just below 18,500. jetblue is in the news. better profits. they're getting some help from decreasing and declining jet fuel costs, and they're up 7%. united technologies raising its outlook, and the stock hit a new high of 107.46, that was earlier, holding at 107 now. lower profits at verizon, they were hurt a little bit by the union strike. the stock is down about a buck at 54. then mcdonald's, that's the mover of the day. slower u.s. customer traffic, and that stock is down $5. okay. it's had a great run, but now it's down 4% as we speak. apple reports its profits -- yeah, it's going to make a profit -- after the bell today.

new york stock exchange, we have nicole right there. i see the stock virtually unchanged, nicole. >> in a wait and see mode at $97 and change. don't forget, this used to be almost a $135 stock early last year. it's below $100. last quarter we saw the sales of the iphones in china dwindle by 26%, the ipad, the mac also lost ground, and analysts are anticipating another ugly quarter. so today after the bell analysts will release the numbers, and we'll watch for iphone sales. china in particular. tim cook says they're making a lot of money on services, we'll see if that helps. some people might wait until next year for the 8. stuart: don't forget, they make about $32 million profits every two weeks. >> it's more than alphabet, amazon and facebook combined. stuart: next case, the wildfire in los angeles has tripled in size. 33,000 acres burned. it's only, as they say, 10%

contained. smoke from the fire can be seen as far away as las vegas. also immigration, big focus of last night's dnc, an illegal immigrant took to the stage, blasted donald trump. up next, the mother of a police officer killed by an illegal immigrant. her take on that in a moment. >> when i was 4 years old, my mother and i climbed into a raft, and we crossed the river to join my father in america. many people clean their dentures with toothpaste or plain water. and even though their dentures look clean, in reality they're not. if a denture were to be put under a microscope, we can see all the bacteria that still exists on the denture, and that bacteria multiplies very rapidly. that's why dentists recommend cleaning with polident everyday. polident's unique micro clean formula works in just 3 minutes, killing 99.99% of odor causing bacteria. for a cleaner, fresher, brighter denture every day.

♪ ♪ >> andremember, "varney & company" starts at nine a.m. eastern. here is what you missed in the last hour. >> i have lawyers who are drafting a complaint. we're looking into this. it would appear that she has used dnc resources to help her own campaign. in the wikileaks disclosure, my name and our campaign has been mentioned dozens of times. it's clear they were monitoring and strategizing how to respond to our campaign. stuart: okay. you're a bernie supporter, i believe, and bernie is telling his supporters, go support hillary. would you do that? >> well, i've been saying the whole time that i would lend my support to whoever the convention nominates to be democratic candidate for president. finish. ♪ ♪

>> when i was 4 years old, my mother and i climbed into a raft, and we crossed the rivers to join my father in america. my family and i are here because of people like senator harry reid. when donald trump talked about

deporting 11 million people, he's talking about ripping families apart. separating families like mine. hillary clinton understands that this is not who we are as a country. stuart: well, illegal immigrants were represented at the dnc last night. that young lady was rightthere, as, rid silva,. >> she wants to stay here. now meet the mother of a young man, a police officer, sergeant brandon mendoza, who was killed in a drunk driving accident by an illegal immigrant. welcome, mary ann mendoza. it's good to see you with us this morning. >> thank you, stuart. appreciate it. stuart: how did you feel when you saw an illegal immigrant pleading to stay at the dnc last night? >> it's, it's their agenda to make people feel sorry and have sob stories like this, but that's all they're going to get out of the story. they're not going to get what this is going to cost every

american taxpayer to keep them here through the dream act. i am separated from my son permanently, and i'm an american citizen. i've been paying taxes all of my life. and when you have a politician who cares more about illegal families being ripped apart more than she cares about american families having their loved one killed by these, byillegals, it's disgusting to me. and, you know, these dreamers, they're going to get be $6,000 a year to attend college which is going to cost the tax, you know, the taxpayers $6.2 billion a year. and once they have attended two years of college, they will be granted permanent legal status in our country. stuart: okay. i want to ask you about what happened to your son. i know that he was killed by an illegal immigrant. but you tell us what happened to that illegal immigrant. >> well, he was killed in the accident also.

and i have been spared having to watch him, you know, just be released from jail like so many other american families, thousands of american families who have been affected by illegal crime. they have had to the watch their, you know, the person who killed their child or their loved one not serve their whole sentence, not be deported to mexico. so this illegal was driving three times the legal limit drunk, high on meth over 35 miles the wrong way on four different freeways in phoenix before slamming head on into my son who had just left work. and killed my son. stuart: may i just turn the argument around for a moment, go backing to the young lady, the young illegal who was at the dnc last night. she did make a humanitarian case. i understand that you don't feel for it, but she did make a humanitarian case. those illegals are deported, some families will be broken. do you have some feeling for that? >> i know that there are good people.

my son worked in the area of mesa, arizona, where he worked, he works with a lot of illegals. and and i do have compassioning for people who don't break the law. my main concern the criminal element in our country, and there are a lot of dreamers that, actually, take on other identities in order to get a job. so when they apply for the dream act, on their application if they're applying in their real name, whatever crimes they committed under this assumed identity will never be associated with them. and our country has no way of keeping track of the crimes that are committed by people using false identities. so there's a lot, there's a lot of layers to this whole dream act, and it's not just as simple as saying come over, you can stay here, we don't want to separate your families. this is a bigger story than the liberals want you to know. stuart: mary ann mendoza, thank you very much for joining us this morning and telling a very difficult story. we appreciate i. >> be thank you very much. stuart: yes, ma'am. all right, moving on to the

markets this morn, we have the big board. where are we? we're down 28 points now, about half the dow is up, half of them are down. amazon, here's an interesting story, they're partnering with the u.k -- in the u.k., i should say, to test drone delivery. easier regulations in the u.k. coming because they are leaving the european union. how about mcdonald's? lower domestic sales, that's inside the united states, lower -- not lower sales, but not as good as they were hoping. >> yeah, that's right. stuart: that's the point. >> they're down $5. >> yeah. u.s. same-store sales, 1.8% growth was less than worldwide sales. is the u.s. fast food sector in recession? be mcdonald's pulled out the stops, all-day breakfast, now adding mcgriddles. >> interesting why would it be in recessionsome it's the cheapest food out there. >> wendy's is filing on the

discounts now too. stuart: the mother of michael brown, the man killed by police in ferguson, she speaks at the dnc tonight. question: are the democrats the party of racial unity? also, check the markets. the dow trading down 32 points now. more "varney" after this. you focus on making great burgers, or building the best houses in town. or becoming the next highly-unlikely dotcom superstar. and us, we'll be right there with you,

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stuart: i'm not going to let this terror thing go. ambassador john bolton is with us this morning right here in new york. i think europe, after something like this, is very close to communal fighting where the locals start attacking the invaders. how close are we? >> i think we're very close, and i think just a spark could set it off. patrick colvar, the head of the dgsi, the french internal security agency, said just a few weeks agoing he thought that france is close to civil war. he speculated an act of mass sexual assault this france such as occurred in germany on new year's eve last year could be the thing that starts it. but look, we've just now had multiple attacks in germany, we've had this in france -- stuart: daily. >> this it is really at the poit where if responsible public leaders don't protect the people, the people will protect themselves. stuart: that's an interesting

question because i was talking the other night with the house committee chair on foreign relations, and he said, look, it takes about 25 people, police officers, to surveil one suspect 24/3. police in europe don't have the number of people they need. they can't stop this. >> it was ed royce, he was exactly right. it's also political leaders themselves who like, unfortunately too many political leaders in this country, are not willing to say this is an ideology. the challenge is western civilization. the people understand it even if their political leaders don't. >> coming up, hour three of "varney." 9 the mother of michael brown, the man killed by a police officer in ferguson, will speak tonight at the dnc. the race debate will be front and center. and bernie sanders' supporters descending on philadelphia, furious with their own party for trying to trip up their candidate. more "varney," three minutes away.

stuart: good morning, everyone. 11:00 on the east coast, it's 8 in california. there is a terror story developing, and it's bringing fresh waves of anxiety worldwide. in france two attackers entered the back door of a catholic church during mass. they took nuns and the priest hostage. they slit the throat of the 84-year-old priest in the church. the police freed the host ams, spot -- hostages, shot the attackers dead and detained a third person connected with the attack. the president of france says those shot dead were affiliated with isis. europe invaded and now, some say, on brink of civil strife. no mention of terror at the democrats' convention last night. this morning donald trump made a speech but did not address the terror issue at all. we cover the news on "varney & company." money, politics, the election, we tell it straight, painful though it may well be. we'll give you the story on terror in france, and we'll

preview bill clinton's speech at the convention tonight. we've got it all. the third hour of "varney & company" about to begin. ♪ ♪ >> never again will we allow any veteran to suffer or die waiting for care. that means veterans will have the right to go to a v.a. facility or right to see a private doctor or clinic of their choice, whatever is fastest and best for the veteran. [applause] there'll be no be more five-day waits in line. stuart: that was donald trump about an hour ago. she was speaking to the vfw, veterans of foreign wars. peter kernan's here, former partner at goldman sachs. now, he spoke a lot about treating the vets and using vouchers to fix what's wrong with the v.a. but he did not mention terror.

and he didn't go near bernie supporters saying come on over and vote for me. most importantly, he didn't mention terror. what do you say? >> what i like was that he was on script last night. he was focused on -- stuart: this morning he was. >> very, very compelling. stuart: that was a teleprompter speech. >> i think he owns the law and order category. he owns it. it didn't really come up last night. we'll see how it comes up tonight. but isis and a lot of the troublings that we've been having were not be front and center in the democratic discussion -- stuart: i was surprised. that was true last night. the word terror, isis did not feature last night at all. but i thought donald trump would go at it this morning. he'd already known about the france attack, this awful attack in the church there. he knew about it but didn't go at it. i thought that would be his way of getting into the headlines again. you know, getting ahead of the news cycle before bill clinton speaks tonight. but, no, doesn't happen. >> yeah. capitalizing on the fact that, you're right, more than five dozen speakers at the democrat convention never used the term

isis at all. stuart: no. >> when we had that horrific attack in france and the pope weighing in saying it's barbarous, it's horrible and condemning it. the vatican now speaking about it. stuart: okay. let's check the markets because we've taken a leg down with stock prices this morning. now we're down 87. just a few moments ago we were down about 100. maybe it's got something to do with price of oil. what was that about item -- about telecom stocks? >> they're tumbling a bit, but i don't think -- stuart: that doesn't account for it. maybe it's oil because now we've got oil at $42 a barrel, so it keeps on sliding. morgan stanley says it's going to $35 this year. maybe that's upsetting the apple cart, because the dow is still down 80-odd to points. check out netflix. they're getting a little bit of a pop this morning, nice pop, actually, $4. one of the company's directors has bought a chunk of the stock. investors like that. that's putting your money where your mouth is, and up she goes.

trumpets, please. [laughter] microsoft, don't you love it? it was at a 16-year high. it's backed off a little, but i can take $56.70 any day of the week. i like it. >> why is that in. stuart: i own just a tad of it. just a tad. [laughter] mcdonald's, now there's a story. lower sales in the united states, and that thing is off $5. now, peter kernan, could you take the mcdonald's story as a national economic story? because they're down because their sales in u.s. stores were not up to what they thought they were going to be. >> well, people are really hanging on that big mac. and i heard a phrase today i've never heard before, it's the restaurant recession. i'm not sure i'm buying it. i think oil is the key. if you look at oil, tock piles are up. in fact -- stockpiles are up. in fact, they're hidden. nigeria gets interruption in their supply, yet they still are able to come up with a million and a half barrels a day. the dollar is a headwind and,

frankly, if you look at our rig counts, they're going up in the united states. if you look at the sand usage in that's used in fracking, that's going up. oil is going to be weak. stuart: so when oil is at $42 a barrel, that's one of the reasons, you think, why this stock market is down -- >> 42 is a very key support level. if it breaks it, and there's not a lot of conviction around $42 right now. this thing could slip to $40, and that's going to mean a tough time for the market. stuart: okay. i do regret this, but i've got to go back to the terror attack in france. what else do we have --? >> well, we know the two suspects got into the back door of the church. a third nun -- there was two nuns and two parishioners inside the church. a third nun managed to escape and put out the alert. the two suspects killed tied to isis. the french president acknowledging that. it's now becoming clear that one of the suspects was convicted of terrorism, had an ankle brace on him and was let out of prison in

march. he was convicted of trying to get to syria to join isis. a judge over the objections of prosecutors said, no, we can let him out as long as he stays with his parents. he was unsupervised in the mornings, and this attack happened between 9 and 11 a.m. stuart: quickly, liz, the pope is going to poland tomorrow, urging the poles to let more refugees in, and now this, the decapitation or the slitting of the throat of a priest in a church. what's the pope saying now? >> well, the pope, he's saying -- the vatican is saying they're shocked because this horrible violence not only took place in a church, but it attacked one of their own. and a focus on, apparently, the nuns there possibly. stuart: so the pope has made a statement. >> the pope is saying this is a barbarous killing. he firmly condemns this absurd violence. and this comes on the heels though of the pope also saying we must embrace refugees as well, so it's a very tricky subject. stuart: terrible story. just depravity in the extreme, and it happened today. all right.

i want to bring this up. race relations, a major theme at the democrats' convention. black lives matter will be prevalent, they'll be will. and included in the list of speakers, the mother of michael brown, the man killed by police in ferguson, missouri. crystal wright is with us. she is the author of the book "con job." what do you make of this? the democrats featuring the bereaved mothers of youngsters killed by police but not any relatives of police officers killed in the hine of duty. -- in the line of duty. what do do you make of this? >> it's a classic example of what democrats do best and i write about in my book. they have been creating their political power and winning votes off fomenting racial division for more than half a century. and i think we saw last night with michelle obama's speech about how the white house was built by slaves and, oh, yeah,

what she left out of her speech, her race-baiting speech, was that the first black president lives in the white house built by slaves, and he is every day for the last seven and a half years has created racial animus between americans. so it was just, you know, this is what they do best. this is the con they do every four years to win black votes. so i'm not surprised that tonight we'll have part deux or, oh, race in america, it's just so bad, right? stuart: hold on a second. our viewers may not have seen michelle obama's speech or reference to the white house being built by slaves. let me roll that tape so our viewers can understand what we're talking about. roll it, please. >> the story of generations of people who felt the lash of bondage, the shame of servitude, the sting of segregation but who kept on striving and hoping and doing what needed to be done so that today i wake up every morning in a house that was

built by slaves. stuart: i don't know why the democrats want to do this in such a prevalent fashion throughout their convention, because the black vote is pretty solidly behind the democrats already, isn't it? >> well, it is. but what was so astonishing is michelle obama had an opportunity last night to talk joyfully abouting being the firt black family to occupy the white house, what a joy that was. instead, she turns that joy into racial animosity over and over again. and the reality is that while her children are outside playing on the white house lawn -- and don't get me wrong, stuart, i think it's a wonderful thing that we finally checked the box and elected a black president. but that black president has done nothing in the last seven and a half years to heal racial relations. and i don't think one person can do that. but barack obama, you know, ran on a promise of hope and change,

a promise of bringing the races together. and what she did last night, i think, while she had a well-crafted speech, it was beneath her. she talked about her intelligent, beautiful daughters, right? and this is the legacy you want to leave behind, that it's always about race with you guys? you know? and if anything, he has always taken the side of blacks over white. he did that in dallas at the memorial for the five slain police officers, and it's just reprehensible for a president to want todivide the races for political power than bring them together. stuart: i'll guarantee to you'll be watching tonight. crystal wright, everyone. thank you very much for joining us. we'll see you very soon. thanks, crystal. now, check that market because we're down about 100 point, roughly 92 at this moment.st of the dow stocks are. we're putting part of the blame on the price of oil which is way, way down at $42 per barrel. we're also on politics. the democrats, i think they're split. bernie sanders' supporters descending on philadelphia.

they say the system is rigged, and they're letting debbie wasserman schultz know about it. watch this. >> we have so much to do, and we have to make sure that we move forward together in a unified way. we know that the voices in this room hard standing up -- that are standing up and -- [inaudible] [inaudible conversations] >> we know that's not the florida that we know.

stuart: price of oil is heading down, we're at $42 per barrel, that's causing some upset on the market overall, and it's certainly taking down the big oil companies. their stocks also continuing that long, slow decline. all right. the democrats, spinning the dnc e-mail scandal. they blame the russians. well, they're spinning it that way. that's my interpretation, okay? bringing in brad woodhouse, the president of correct the record, who's on the other side of the political fringe.

brad, welcome to the program. >> hey, stuart, how are you? thank you so much. stuart oh, remarkably well actually, brad. >> good. stuart: listen to this, that dnc e-mail scandal unearthed dirty tricks on the part of the democrats and their party structure, it unearthed a journalist submitting his stories to the dnc for approval. it revealed talking about bernie sanders, questioning his religion. is he an atheist? let's put that out there. there were donors getting positions in future administrations. that's all pretty bad news -- >> that's a long list. stuart: if you ask me, there's a whole raft of stuff there, and you're spinning this that it's the fault of the russians? really? >> well, look, the russians -- stuart, i don't think anyone's saying that the russians wrote any of those e-mails. and, you know, look, i have a different interpretation of some of those e-mails and kind of their severity, so to speak. but let's just start from a baseline. we though be that the russians hacked the dnc servers some

months ago, and then they released files from those servers to the public. we know that there is a close relationship between some of trump's advisers, michael flynn, paul manafort and the russian government, and we know that vladimir putin and donald trump have a bromance. stuart: desperation. >> the russians may have had a role here. but, look, i'm not defending the e-mailses, institute. stuart: no, you're distracting attention away from the e-mails. and by the way, there may be more to come. are you worried about that? >> well, look, you're always worried about e-mail -- [laughter] out what might come. but, you know, the fbi's not investigating this hack to help hillary clinton. you know? the fbi's investigating this hack because all americans and the fbi, obviously, should be concerned if the russians are trying to, you know, to influence a political election and if they've done something illegal like hack a major political party.

stuart: so you do accept that serious damage was done to the dnc by the revelations in these e-mails. that was extremely damaging, wasn't it? many. >> well, look, i'll say this, i think that whatever damage has been done has been addressed. party chair resigned, there's going to be new leadership at the dnc. and the clinton campaign, now that she's going to be the nominee as of thursday night, will fully take control of the dnc. and what, if anything, was going on there you will not see going forward, i'm confident of that. stuart: you know, brad, you normally jump out of the tv screen. i mean, you're normally very aggressive about this. and here you are sounding rather defensive. i think you know you've taken a hit. >> well, look, stuart, i have an entirely different interpretation of most of those e-mails. i think many of the e-mails that have been released so far showed that the dnc staff and the chair were defending themselves against attacks by sanders campaign --

[laughter] stuart: hold on a second. how do you explain away the fact that in one of those e-mails there was talk about let's, let's question bernie sanders' religion. >> well, institute, let me address -- stuart, let me address that. stuart: is he an atheist? it works are well in kentucky. how do you feel about that? >> stuart, let me address that. i think that, obviously, is inappropriate. but let's discuss who that e-mail came from. it came from the chief financial officer, the person that writes the fec reports. it didn't come from anyone who has anything to do with implementing policy or tactics or communications -- stuart: no. it's about feeding stories to journalists. it's about undermining your opponents, it's about -- [inaudible] within the democrats. that's what it's about. >> well, look, like i said, i have a different interpretation. that instance, the sanders campaign was saying that the dnc was corrupt, and the dnc staff was saying, no, the problem here is you didn't win because you didn't run as good a campaign as hillary clinton which we all

know now because she won the nomination. stuart: is it now a socialist party? >> no, not at all, i don't think -- stuart: is it a european-style socialist party? >> i don't think it's -- look, stuart, it's not a socialist party, it is a progressive party. it is actually where the american people are party. this is a center-left country. i know that for years the republicans wanted to say this was a center-right country. this is a center-left country that believes in helping people, lift people up to move the country forward. stuart: always remember though, brad, captain him is the best way of -- capitalism is the best way of raising everybody up. historically, very true. of brad woodhouse, before you get the last word, you're done. [laughter] thanks for joining us seriously, brad. i do, i appreciate it. >> thank you, stuart. take care. stuart: another look at the markets because we're still down. most of the dow stocks are in the red, just a couple of them are up, and we're off 83 points. here's what's next. a live report from philadelphia. bernie sanders' supporters still

promising disruption. socialism, that's my opinion, on full display at the democrat convention. that lady was shouted down by bernie people last night. also, the latest developments from france. an ugly, brutal, awful terror attack. we have the story for you. ♪ before it became a medicine, it was an idea. a wild "what-if." so scientists went to work. they examined 87 different protein structures and worked for 12 long years. there were thousands of patient volunteers and the hope of millions. and so after it became a medicine, someone who couldn't be cured, could be. me. ♪

stuart: now last week we did not get the violent protests outside the cleveland convention that we we-expecting. this week started out relatively quietly outside philadelphia, the democrats' convention. i want to bring in leland vittert to join us. leland, we were told there were going to be tens of thousands of people marching for bernieright where were now. are we going to see that? >> reporter: well, i don't know if we're going to see it. we saw a couple of thousand yesterday, stuart. right now we have a couple of dozen. they're pretty loud, you may be able to hear them chanting as some of the delegates are going in, but they're also quite enjoying the shade on the other side of this fencing. the fencing is all new. it's no-scale fencing that the secret service brought in overnight. yesterday right here there were clashes between tell gates and -- delegates and protesters. there ended being about 50 people put in those plastic zip tie handcuffs that they march people off on from these kinds

of protest zones. we have this checkpoint and a few more people. also a number more police officers out today than we saw yesterday at this area. it's still early. these protesters tend not to like to get up too early. it's only 11:30 here in philadelphia. you could think 2, 3, 4:00, that's when things kind of get going, everybody's got time to sleep off what happened last night and come back out here. stuart: leland vittert right will in the heat, thanks very much for joining us. terror comes to france once again, and this is a brutal story. a priest murderedded by islamic extremists during morning mass. we've got more on that for you. look at the markets, we're down 77 points now, most of the big board stocks are in the red. bill clinton takes the stage tonight at the democrats' convention. now it's a divided convention. last night they booed every time hillary clinton's name was mentioned. will they boo bill tonight? ♪ ♪

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tree into a alerted one more time to story of merging from france. it creates executed brutally is cut in his own church. peter kiernan is with me. these are almost a daily

occurrence. >> is changed, too. bp go back a decade, there were only two incidents were more than two people killed and we see this despite worldwide people being killed in terrorist incidents. it would have been 13,000 a year in 20 team. 32,000 last year. 28,000 this year. we see a spike in fear and this, but more people killed. stuart: that with this year. it is happening more and more often. everyone looking around at the soft targets could be the perception of rising anxiety. >> there's also the matter conductivity. increasingly you know what someone killed in a terrorist attack. when 9/11 occurred i think this is a civil war. you can feel it. stuart: civil war. good heavens. there we are. i will get back to it in a moment.

look at individual stocks that are moving. jeb blew costs helping them 7% higher. better sales that reynolds american tobacco and camels. a boost from last year's purchase down to bugs. down 4% this morning. lower profit under armour took a hit when sports authority but bankrupt. and now they are down 3%. oil is the key to this market at a three-month low. the webster ratio may be at hand here when oil goes down, stocks go down. liz: it was in hiatus. trade to $22 a barrel is very low. 50 bucks worth of july. 20 days later you are done 16%. good math compass to her. debbie wasserman schultz out of the head of the dnc for her and

augmented the e-mail scandal. she is still a congresswoman from florida. joining us from now, at press while jeb bush for governor cochair. do you think that the case if i can put it like that come like that come in the case of debbie wasserman schultz helps donald trump when the state of florida in november? >> now, i don't think it has anything to do anything with it. with respect to hillary clinton it does because especially if we see any coordination from the clinton campaign, as you know the clinton campaign bus trip fundraising, which was way back when. it does play into donald trump's narrative of it being rigged from the beginning and the sanders people have a lot of gripes and they are showing it at the convention. they killed some of those standards towards strong. >> you still got a very large and growing hispanic population of florida.

is that a large enough population to tilt the scale to hillary clinton in the general because hispanics are voting heavily? >> well, that is the weakness that donald trump's mr. sharon. i see now, donald trump 166 and 67 counties during the republican primary. the one he did not winless miami. here's the issue. he needs to come down and spend some time with good hard-working hispanic leaders in miami dade and elsewhere in the state because that is going to be the key to winning florida. stuart: are you 100% behind donald trump? i know you used to be with jeb bush. are you fully for trump? >> well, given the choice, this is a binary choice. we've got hillary clinton on one hand. 68% of the people say they don't trust her and i am one of those.

i am not entirely thrilled with donald trump all the time, that he is my candidate because they need for him to be president to prevent her. i like what i heard at the convention and in a lot of ways a lot of ways but he's sad, how he delivered it, i like it very much. on the other hand, i can't trust hillary and i think the system is corrupt and she is the establishment candidate and he isn't. stuart: last quick one. you're very much in touch with their republican donors. are they opening their wallet to donald trump? >> yes, i saw that in cleveland. the donor class is helping the rnc. it could not have happened without key financial support from key donors who have come around here rnc put on a very good show. cleveland was welcoming. so far what happened in cleveland looked very quiet and subdued compared to what is happening in philadelphia today.

stuart: not if you read the establishment media. you should shake your head. as always, thanks for joining us. appreciate it. stuart: back to the terror attack in france. another terror attack. the victim is a priest killed in church during morning mass. joining us now is the four-man army ranger and security contractor who was contractor who was there contractor who is there e in benghazi during the atck. you know, chris, these attacks are coming on a daily basis in the sense of anxiety is present in almost everyone these days because there's so many soft targets. how do targets. how do you assess what's going on the terror front and rated to and rated two politics of the day if you will. >> of course. you know, when you are allowing a lot of the migrants and people who come in a country that you can't fully that come and this

is what you get. this is my donald trump says we need to have a very secured, very strong vetting system. you cannot make sure who was good and who is bad. we are seeing repercussions in france right now. a very strict control regime for anybody coming into united states. we don't even know what it is. it has to be over. it has to be looking to what we can see. if we can't see with the venting system is, there's no way we can use it. i am for a very strong vetting system and it's necessary. you just can't pick who's good and who's bad. that's what their expertise is. we look at those.

stuart: you are in philadelphia right now. do you expect to hear more at the democrat convention? >> guest: i haven't heard much on terrorism while i spend here. i'll be honest with you, i haven't seen an american flag. stuart: that is another story. do you think the public opinion, anxiety, anxious as we are about terror attacks, without force the democrats to address this? >> if it gets votes, they are not going to address it. they will not address it in the vigor that they need to. let's put it that way. right now i'll be honest, votes matter more than terrorism. that's how i see it. true to that of the al q. and we appreciate you being with us. we do appreciate it. we will see you soon. next array, back to the economy. senator elizabeth warren said the road is rigged against the working class. roll tape.

>> the system is rigged. there's enough blame to go around, but there is a huge difference between people fighting for a level playing field and the people fighting to keep the system rigged. stuart: you saw that socialism on parade. the democrats are not the new socialist party. have i gone too far? >> the thing that frustrates me when you hear that condemnation, i don't hear anything about the other side of the equation. who will create the jobs if you have these kids go through college. you will play them on the other end? the only way to build a bridge is have a capitalist society to welcome them with great high-paying skill-based jobs. i haven't heard a word about that in a speeches last night. stuart: the democrat party as it stands is essentially like a european social democrat party. essentially america has been led towards looking more and more like europe.

i don't approve. do you? >> i don't think they understand where they are. the first fact that hillary clinton did, the first thing she did was pick a centrist vice president, a good, solid, pro-business vice president flying directly in the face of what elizabeth warren wanted. what bernie sanders wants. when they speak, they describe this universe that no one can quite appreciate for its free tuition and don't worry about this. with no comment on how it is going to get paid for or where people will go once they're beautifully educated. stuart: i have to pound the table. we can't have america looking more like europe. they are socialists. >> there is plenty here for all of us. stuart: look at that market down 75 points as we speak. most of the dow 30 are in the red. the headline be great tonight. bill clinton, husband of hillary.

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>> i'm nicole petallides the fairfax business brief. bad news tomorrow. today we see a market to the upside of 30, down 100. we are down roughly 80 after a record-setting week last week though it's all been relatively

light volume. the dow down 77. the s&p pulling back. united tech and caterpillar are winners while verizon donald smallbatch, talk about a challenging environment. also we saw the united technologies beats and that's why that's a winner. other names watching out their winners include three m. as well as under armour. under armour giving the slowest growth in six years wayne on the company's stock. topping off the brewery deal for miller. you can see in a paraphrase anheuser-busch. anheuser-busch. more fox business after the break. 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.

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stuart: warning, we are about to repeat a dramatic story, an awful story from france. it is another terror attack. i will start at the beginning. two attackers get into the back door of a church while mass is being celebrated. they go inside the church to take hostage. two nuns, to parishioners and a priest. they then execute the priests by their two reports here. one they slit his throat. another report says they decapitated him, beheaded him. subsequently, the two attackers were shot and killed bypolice. then ashley, i believe they

established an isis connection. >> they pledged allegiance. one of the nuns who escaped said they shouted, made the priest kneeled in church before executing. they most certainly slit his throat, 84 years old. he was filling in, by the way, for a priest on vacation. stuart: that is so awful. liz: air crosses a new depraved line. the depravity and continental europe. the defenseless 84-year-old preacher in a church. the missionaries were killed in yemen. but for this to be happening, the police knew about one of them for about a year and a half. >> for centuries, this has been considered sanctuary. the place you could go where no one could could touch you. two people identified as soldiers of ice soldiers of

isis, to go when a murderer and 84-year-old priest, that is no soldier in my book. if you want to kill it priest, come through me. stuart: phase one was welcome. comment. then they realize there's a problem. phase two starts. hold on, no more. we can't handle this. i think we are getting towards phase three, which is get out of here. if that happens, you've got communal fighting in europe. liz: turkey exploding as well. >> we are right on the precipice. this could go into very dark territory. people are afraid the public was dark. it is going to the person against person and a soft targets, you are exposed. stuart: strikes terror into the heart of europe. >> for anybody watching, there's nothing to prevent that from

happening. >> regrettably true. i've got a headline for you. the speaker tonight will be bill clinton. remember last night, every time hillary clinton's name was mentione supporters booed that name. tonight, it is bill clinton. we'll bernie sanders supporters who bill clinton? larry elder is with us. radio nationally syndicated post has a talk show. i want to know. what do you think? >> don't downplay me. i have a talk show. >> i'm very sorry. >> he's become the elder statesman of the party. i will boo him and i'll tell you why. i don't understand why he did so much credit for the economy. if it hadn't been for newt gingrich, his fierce two years he wanted to a multi-stimulus

practice henry's stimulus even further. lost control of congress, move to the center, cut capital games. and continued deregulation. the economy would not have done as well and he inherited an economy that was about 18 consecutive months of positive gdp growth. he inherited an economy already benefiting from reagan and george herbert walker bush. stuart: does a nice revisiting of history. i'm glad she did that. grace will take center stage at the dnc tonight. michael brown's mother is going to be there. she has a speaking slot. he will be concentrating heavily on race and race relations on one particular viewpoint. >> it bothers me because this black class matters to

mrs. brown, i know she lusters on. the evidence showed that he was exonerated by the doj and in the last 45 years, police shooting against blacks are down 75%. twice as many whites are shot by the police. a study was done or said that police are more tangible the trigger, lest we let them against a white person. the whole thing is built upon a foundation of lies. all these people whether eric gardner kindly to their race, michael brown, traded on martin, all of them would be alive had to comply. stuart: why am i a bad guy if i say all lives matter, encompassing everybody. why am i looked upon as a bigot? >> why am i a knuckle saying it. all lives do matter.

either way, please really shoot people. 330 million americans. that's 2965 people got shot and killed by the police. by contrast, people were injured by lightning. it is rare for police to shoot anybody, let alone another black person. less than 4% for a wake-up shooting an unarmed black person. by contrast, half of the homicides are committed by a spike people being killed by other peers. we are to talk about that. in chicago alone, about 70% are black on black and 75% are unsolved. tree into 700 homicides this year? >> for chicago. this last week and 45 people were killed, were shot. stuart: why do we hear about this? should other casualty count. that's extraordinary. not funny.

i promise on your nationally syndicated radio. the market is down. we were up 60 points as we speak. we've been down about 105. o'neill is the big story with out today. it has come back a little. forty-three dollars per barrel. terror has arrived in france yet again. a priest executed during morning mass. his throat was split an isis takes credit. good heavens. ♪

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and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ stuart: i want an update on what happened inside the church where priest is executed. ashley: from what we are understanding, the french priest was forced to kneel next to the altar inside this church. he had his throat slashed and was all videotaped by the two suspects were eventually shot and killed. stuart: depravity in the most extreme. i've got to move on from this. public pension funds, their investment income is going to magically. adam shapiro is here to tell us that it does. taxpayers, we've got to pick up the bill. >> public pensions row that investment returns. based on the fact they are going

to get in a percent return over here. we saw a return in 2008, 2009, over the last 20 years when he smoothed out over the long term about 7.5 acres and fallen below are the first time. you will pay more. they may spend 10% paid retiree. >> public pensions. >> the worst among the worse, if you live in illinois, run for the exits. >> so they cannot do the payout. >> they can do the payouts. which would you rather do, have a pager owner payor pensioners? under contractual obligation. this is the next big fight politically. are you going to stick your public retirees are your taxpayers cut spending for

schools, roads. >> i predict they will raise type it. >> 4 trillion. i want to repeat or trillion unfunded liability. it is a nightmare headed our way. stuart: i'm so glad we squeezed out by man. adam shapiro, we appreciate it. the dow was down 45 points. we will have more trains to ask for you after this. -- "varney" after this.

stuart: a terrible story looking at the aftermath in france. a priest murdered in his church. ashley: a whole new line of depravity, outrage. a priest forced to kneel next to his altar and is executed. all of that videotaped. stuart: this is a financial program did when you hear stuff

like that, you got booted out because it affects everybody. >> that's true. for missionaries of charity in yemen and a retirement home in arts. this is a new level of depravity. >> pray for that priest and a nun finally fighting for her life. stuart: good stuff. thank you one and all. that's it for us. >> even if you don't pray, good time to start. ready to go, the big question is are they rally around the wrong person. i am charles payne and for neil cavuto. bernie sanders pleading with supporters to put there in louisiana from this kind hillary clinton. president bill clinton getting ready to pitch hillary. the democratic party is much different than the one he addressed in 1992. if clinton has faced the challenges with an increase in the liberal base, the party has moved significtl