>> taxes, infrastructure, regulation. maria: rolling back regulars an executive order from the president later about rolling back dodd-frank thank you to a fantastic panel, have a great day, everybody i will see you sunday on "sunday morning futures" "varney & company" begins right now over to you. >> thank you very much indeed good morning, a blizzard of action, here comes real change. financial regulation big change coming there, giant reform measure dodd-frank will be dismantled taken to pieces fiduciary prul to the applied would have placed restrictions >> this is technical stuff and change in the world. and president trump wants new sanctions on iran after the iranians tested ballistic missiles. he is not taking military action off the table. next case, a walk-back on israel. the president says new west

bank settlements would not be helpful. that's a walk-back. there's a lot new for today. new executive orders within hours and the advisory committee will meet at the white house. there will be news from that meeting any moment. this is the all action president, is it not. his opponents as well. nordstrom has caved, and they're dropping ivanka branded shoes. talk about contempt, bruce springsteen told crowds in australia told we want stand before you embarrassed americans. and can't wait for lady gaga at the halftime show. japan will invest heavily in infrastructure projects. their moneying here to cate, they think 700,000 jobs.

that's arump win. the jobs report. 227,000 jobs in january, no comment on that. and amazon stock will tumble, that's what happens when you follow expectations. we don't do that. the market going straight up at the opening bell, a gain of maybe 100 points. yes, this is a jam-packed "varney & company" and it's about to begin. ♪ >> breaking news from france, a soldier shoots a machete-wielding man in the art gallery housing the mona lisa, the louvre. ashley: it happened and 220 people inside the museum. this man started to attack a

security, and he shouted and a soldier shot at him five times hitting him in the arm and abdomen. he is taken away to the hospital. w was not killed and no one injured. >> a bomb thrown into a cheesecake factory restaurant? is that accurate. ashley: there are reports. ashley: this person we're following on this that, this person had two backpacks and he was stopped going into the louvre, and he became agitated. we're on the cheesecake factory. stuart: i've got a lot more to go we're going to open the stock market in 20 minutes odd time and a gain of 80, maybe more than that. this doesn't have with the jobs report, 227,000 new jobs, it's a lot more to do with bank stocks going straight up

because of the probable demise of dodd-frank. the stock of the day though, what's that? i'll tell you, it's amazon. blowout numbers, however, this drives me crazy, they missed expectations. their cloud business went up a whopping 47%, they captured 40% of all holiday on-line sales, but the stocks are going down 4%. market watcher jeff sica is with us. this is why i don't use the word expectations on this program. am i wrong? >> yeah, and this just-- >> i am wrong? >> no, you're right. i apologize. stuart: there you go. >> this just shows that the analysts are basically knew -- numerically obsessed. and here is the reason why amazon is, first of all, parring back expectations going forward. they're spending money on

innovation, which jeff bezos successfully has done. he's done it, he's not afraid to take risks. they dominated 40% of the retail market, they took 40% of the retail market and that's impressive. >> if we don't trust the expectation theory, does that abandons back from 804, 820, 830 sometime soon? >> i believe it's going to come back. what investors need to see for amazon so grow, they have to continue to build the facilities which are very expensive and they continually have to invest in content. if they execute on this plan, you're going to see significantly higher profits from them. stuart: one last one, 227,000 new jobs, the jobs report came out a half hour ago, i don't think it has much impact on the market at all. do you? >> it doesn't. keep in mind, this jobs report is very focused on the potential for there to be tax cuts and right now the tax cuts are up in the air. as i said in the last show, we

have a very good possibility that we will not see 2017 tax cuts, which could affect sentiment and hiring. stuart: you're going to talk this market down with that kind of stuff sica. be quiet for 20 minutes and we'll bring you back at the opening bell. stuart: there's real job creation headline this morning. maybe. japan's reportedly putting the finishing touches on a package that it says will create 700,000 jobs in the united states. rich lowery is with us, i believe that's correct? >> that's correct. stuart: get that right, please. the prime minister of japan is coming to washington d.c. next week. >> yeah. stuart: holds a meeting with the president. he's window dressing. he's saying i want to get on your right side. >> of course. stuart: it's a win for trump. >> trump through sheer force of personality, through cajoling, urging, bullying has every company and every country around the world thinking in these terms, how can i invest in the united states and create more jobs in the united states? so it's a fascinating proposal. we'll have to see how plausible

it is. stuart: it's their money. their money coming here for infrastructure projects, cyber security, all of these jobs. >> so, this is a trump infrastructure is a major priority of his. and a big question going forward is, does he do like obama style trillion dollar spending infrastructure program or he does an infrastructure spending that's more interesting that leverages capital into infrastructure projects and this would be a fascinating way to do 0 it. stuart: there's all of this talk of rolling back dodd-frank, which is the mammoth legislation passed by president obama many, many years ago. roll it back. gary cohn says we're going to help the banks, the banks have been in a terrible mess. it sound to me, it's technical, but this is a revolution. >> it's huge. and the gary cohn interview in the journal today and-- >> and this morning. >> and dead serious about it. some they can do

administratively, the way the law was written the fiduciary rule you mentioned was an entirely unilatel action and they can reverse it in that way, but eventually they'll need legislation if they entirely undo it. this is part of a two-week tsunami of action that's going to continue rolling forward. stuart: good word, tsunami of action. i get the impression it's kind of rolling over the left. what are they going to do. the man keeps coming up with stuff. >> for the one, they can't stop them, two, they've lost their mind and they can't think rationally. three, the party is in crisis, they don't know which way to turn. they didn't expect to lose and they're having a big internal debate how to find their footing. so-- >> if you watch. >> troubles on that. stuart: watch the media, read the newspapers, that's not the impression you get. the impression you get is chaos. >> well, what there is, there is an over emphasis on bruce springsteen said this, the country is up in arms. how can trump possibly prevail.

oh, they've said this at the screen actor's guild award. a hundred protesters at the airport. that's kind of a side show. what ultimately matters, stuart, as you know, i don't need to tell you, whether the administration can create broader conditions for growth and you get more jobs and more wage growth. if that happens, everything else is a detail. stuart: we're very worried that the tax cut package is delayed and delayed and delayed, bogged down with doing obamacare first, that's a real concern on wall street this morning. >> well, legislation is extremely messy, it never happens as quickly as you think, and this is a complex task. stuart: okay. we have just seen some of the ceo's arriving at the white house. sorry, where are you? there you are. got you over there. >> hello. stuart: some of the ceo's at the business meeting this morning, i believe it starts at 10:00. we've seen them arrive. it's an important meeting. ashley: from ibm, jack welch,

former head of ge, mary from gm. paul atkins from potomac. i guess you could call them the captains of the white house, come talking about how to get the economy back on track and what can be done. stuart: i wonder what trump will say to them. will he muscle them? will he say look what the japanese are doing. ashley: based on what we've seen so far, yes. stuart: do i have louie goal gohmert. republican from texas, are you with us? >> i'm not all with you, but mostly with you. [laughter] >> wait a minute, where do you and i have a disagreement? >> i don't know, i don't know of one. in other words, i'm not all here is basically what i'm saying. [laughter] >> what do you make of this news this morning that the

japanese are going to invest a lot of money in america to create infrastructure jobs, cyber security jobs, their money, our jobs here? on the surface, that looks like another trump win, doesn't it? >> it actually does. what it says is that the japanese are taking a more intelligent look at america than the democrats are, so, that's to be expected, but it also shows just how frantic the democrats and, i guess, all the democrats, including john mccain and a few others, they're not looking at america that most americans are seeing and so hopefully they'll scale back the attacks, they'll get on the side with the-- not the fringe party, and by fringe, that's the new name for the democrat party because that's the only thing they win is when it comes to presidential elections, the west coast, the east coast, north, chicago, detroit, to

texas valley and a few big cities, but they're the fringe party, but the heart and soul of america is in agreement with what trump is doing. he's going to create more jobs an we are going to lower taxes and that means, according to arthur laffer, there will be much more revenue, it going to be a great thing for america. stuart: there's the bone that i want to pick with you, louie. >> okay. stuart: tax cuts. what are you-- you are really messing up the country in washington because-- you're saying yes and smiling, you are, you're going to reform and repeal obamacare first. don't know how long that's going to take. then hopefully you'll get to tax cutting. why don't you do tax cutting first? >> well, yeah, most of us can multi-task. i think they've been watching the democrats too long and think you can only do one thing at one time, but we actually, we have committees working on taxes and let me tell you,

kevin brady, chair of ways and means, i have daily conversations with kevin, they're on top of it. they're ready to move and they're ready to make the massive cuts, so while many are saying, gee, it looks like they're not moving forward on the tax cut, including my friend at fox business, but they are moving, but it's not where you're seeing it right now, but it comes fast. stuart: louie, there's clearly a division within the republican party. there are some people deficit hawks who want any tax cuts to be accompanied by something else that brings in more revenue, so it's deficit neutral. that's what's holding things up. it's the split in the republicans and not the democrats, it's a split in your party. >> this may be a big news event about to be made, but one of the problems some of us are having with obamacare is there are republican leaders who

don't want to get rid of the massive taxes and fees and the 3 to 500 billion in revenue that generates and they're even telling the trump administration, you kn, they're just only certa things we can do with reconciliation. they're wanting to keep that money so that-- and i'm not talking about the majority of our party, thank god the majority of the republicans in washington, they want to get rid of obamacare lock, stock and barrel and create a market where it's cheaper, it's more available for everybody, there's that segment at the top that wants to keep all of that money and all of that taxes coming in. stuart: this is a news event, louie. because if you've got a section of the party, which is dragging its heels on what to do with obamacare, you're spreading out the whole legislative time frame and you're putting back tax cuts all over again.

the party is split, and we're all paying the price. >> well, but on the tax cuts, that's being done by ways and means, and they're not holding up obamacare being gotten rid of. the obamacare repeal is in energy and commerce and they're moving forward, but there is a division whether or not to keep all of that tax money and retain the obamacare massive taxes, as john robert said it was, it was a penalty, no question. but anyway-- give em hell. >> we agree with laffer, let' get rid of all the taxes and you will increase the federal revenue, it's called the laffer curve. stuart: tell the rest of your party. you've got it. stuart: louie gohmert, it's always a pleasure, we never have any disagreement of any kind ever. >> i love being with you, thank you so much. stuart: appreciate that. now, rich lawrie, i'm mad as

hell. >> the thing is obamacare, partial repeal, they thought it would be a quick win and now they're kind of in some quick sand because they realize that, you know, the cbo score saying they're kicking 18 million people off health insurance, they don't know how to replace it, should they replace it the same time they repeal it it's supposed to be a quick action and it's delaying everything else. stuart: in my opinion that's a mistake making the legislative schedule like that. you could have predicted a mile off that getting rid of obamacare would take significant legislative time. >> also, not only that, but paul ryan is the one who is saying it. so they're not talking-- he's not talking about dual tasking, and we have the other issue that we have to focus on, which is this infrastructure spending that they're going to also try to take on at j just about the same time. my contention is you combine

obamacare with this infrastructure spending, which is going to be a complete disaster, when it comes to the states wanting their piece of this federal government infrastructure spending, you're going to have a big issue. i think the tax cuts should be talked about now, and there should be a plan today. stuart: yes. are you talking this market down? are you bearish or think it's going to-- >> i think the market is going to come down. i think the honeymoon is eventually going to be over, despite the fact that many trump is good for the economy, we have an inflated stock market that's been very dependent on central bank, very dependent on low interest rates and you have an employment number like today. my question is, why do we need to keep interest rates this low if things are improving so much? >> well, the dow will open 90 points higher despite what you say, sica, despite you. [laughter]. we'll be back above 19-9. and corporate america can't stop talking about president

trump, dominating the earnings calls of s&p 500 companies. we said every day, there's no separating business and politics these days. we've got that. we've got to take a break. a break is coming, stay right there. we'll be back.

>> this is, right, that's the white house, of course. throughout the program, you're going to be seeing more chief executives of major corporations walking in for a meeting with president trump. that is due to start at about 10:00 this morning. that's jack welch right there. former ceo of general electric. he's in that meeting and you'll see more figures from business awe riving throughout this hour. president trump taking aim at the banking regulations, dodd-frank, that's good news for bank stocks. look at j.p. morgan set to open about 1% higher, a nice gain there and look at goldman sachs, another run up for that huge investment bank. i ever already gone up, what is it, ff, 20, 30%. >> 20 odd percent since the election and it's going to go up more if we roll back dodd-frank. that's the talk today. we certainly talk about president trump every single

day, all day, frankly. but corporate america talking about him as well on their conference calls. you know they do that every time they have an earning report, a big conference call and talking about mr. trump. ashley: mr. trump is dominating these calls. we gave you a graphic on s&p 500 companies, the talk about donald trump, president trump directly, 114 mentions on 58 conference calls. and then we get into issues. border tax references, 145 mentions, there you go, that's the blue line, on 66 conference calls, and then how about tax reform, look at that, 256 mentions from 81 companies. so, donald trump and what he has been proposing dominating the conference calls as they look forward and try to give guidance. stuart: can you tell me more about the meeting in the white house? i believe that-- >> mark field if he's there, he and elon musk critical of the travel bans and that's going to be very interesting. musk actually tweeting out, i'm

going to bring this up to the president and i'm not the only one who feels he's overstepped. >> it's going to be a debate and not just the president laying down the law. >> the taxes of course would be a big up one. ge and boeing said they've generated a congressional plan to tax imports and other retailers say you can't do that because prices will shoot up for consumers. stuart: rich lawrie, it's a very, very different relationship between the president of the united states and business, i've never seen anything like this before. >> there will be fireworks over the refugee orders and if the tigtans of business wait until trump get to the h1b visas: he's given them a lot of what they want in terms of deregulation and tax cuts, but this kind of element of his agenda is core to him and not going to be talked out of it. stuart: you cannot dismiss

president trump as a friend of business business. he's nonideological. he's doing what he thinks will win for america. >> it's a means for an end and the end is jobs. stuart: do you think that the country appreciates this? >> i do, but i think that results will matter most at the end. day. stuart: does wall street like this different relationship between business and the president? >> i believe wall street does, but there is going to be somewhat of a rude awakening in that a lot of these multinational corporations have become very, very dependent on things like cheap labor, have become very dependent on the weak dollar policies and when you start to talk about this border tax i think a lot of these ceo's are not sleeping at night because of it. because it's going to impact their earnings, but i think for wall street, we want accountability and we want transparency and that's what we have. stuart: now, i've said many times this is a live action news show, it's definitely true this morning. breaking news this morning

about iran. ashley: that's true every day. this from our colleague john roberts, chief white house correspondent at fox news saying that he's expecting the treasury department at 10:30 this morning to announce sanctions, new sanctions against iran. and remember, just on wednesday, the administration had put iran on notice, we understand that sanctions apparently are described as the logical progression of the steps to be taken against iran over its missile launch beginning with of course, general flynn making that statement we're putting iran on notice and following through with what we expect to be sanctions announced in the hour. stuart: the left is terrified, rich, when the president says i'm not taking anything off the table including military. >> nobody believed it when obama said it, but-- >>t's tough uff. >> they're going to hold iran to t letter of every single one of its commitments. so it's going to be an entirely different approach from

president obama. stuart: there's going to be great hostility between the two sides, iran and united states, this is no lovy dovy stuff. >> we've sort of let iran trample all over the middle east and go towards its goal of dominance in the middle east and the trump administration wants to pull that back. this is going to be a relationship to look at and antagonism to look at in the next four years. stuart: in less than three minutes, the market opens up again and it's a friday morning. you have no idea the amount of news that this market has to digest. first and foremost, something rather technical, the demise, the rolling back of something called dodd-frank. if you're not familiar with it, that's the vast regulatory bill that now regulates wall street. many people say it's not very effective and is cumbersome, to say the least, and it costs $500 million a year to do it. that's going to be rolled back. wait till you see what happens with the bank stocks this morning. that's in the news background.

we have the jobs report, 227,000 new jobs. i don't really think that that plays a major role in the direction of the stock market this morning. i think the demise of dodd-frank is much more important than that, am i right, jeff sica? >> and especially what i'm thinking about, dodd-frank is thement, small businesses have been unable to access capital through lending. stuart: very important. >> this, as i'm extremely optimistic about this because i'm an advocate of small businesses and if they get these flood gates opened, it will help this country tremendously. stuart: if you think that dodd frank is just a technicality, that it doesn't affect you, well, please think again. you may not understand all the technical details of dodd-frank, but if anybody in our audience has ever gone to try to get a home equity loan, a refinancing deal or a primary mortgage, if you've done any of that in the recent past, you will know that dodd-frank is like the dead hand of bureaucracy all over you. it is sheer murder trying to

get everything togethe to satisfy these new regulations. mr. trump, president trump says, not him directly, but gary cohn, right-hand guy in the financial markets, he says we're going to roll it back and dismantle this thing. you wait to see what happens with bank stocks this morning, they'll do very, very well and the smaller companies, watch the russell 2000. if they've got all kinds of good stuff going for them, then we're in pretty good shape. we're looking at futures at the moment. bottom right-hand corner and we're up about 90 points, that's the premarket expectation of how things are going to be. i use the word expectation and i'm going to rant about that shortly because of amazon. that's a wonderful company, stellar results last night. and because amazon did not meet analyst expectations the stock is going to be down 30, $40.

4%. why? they didn't meet expectations even though they had an enormous share of holiday on-line sales. even though their very important cloud business is exploding, didn't meet expectations. take that stock down. the opening bell is ringing on that. blood pressure. 9:30, we're off and running. what have we got, ladies and gentlemen, we're up 102 points. we're running. up 113 points. bang! wait, buy something, buy something. yes! 20,000. we're not going to reprise that graphic. >> paid for it. stuart: ♪ trumpets are cheaper. 20,000 on the screen. we've got 26 of the dow 30

green this morning. e've got the pside meeting with business leaders again, i don't think that's a factor in the news from the market at this point. we do have japan poised to invest their money in america to create 700,000 jobs, infrastructure, cyber security, that's a big deal. and, yes, we have amazon. and i'm not sure what they've opened at, i believe it's down about 30-odd dollars. 806, 807, down 31.95. again, i'm ranting, they didn't meet wall street expectations. i see that as absolute nonaccepts. all right, it's friday morning, i'm almost out of breath, but here with us, ashley webster, maria bartiromo will join us shortly. jeff sica is with us and so, too, is scott shellady. i'm going to start with amazon

the. scott, amazon is down over $30 a share because they didn't meet expectations. i'm tired of this. i don't think expectations should factor into our stock price at all. what say you, shellady? >> you know what? i agree with you. here is the problem with wall street. what have you done for me lately, baby? it's hard to make a five year plan on wall street when you take public money. they won't afford you a chance to grow a business and make changes you need to make and that's why you see people delist and not go to wall street anyway, the analyst expectations are analyst expectations and they're not part of the country. you get punished if you don't meet them. how can you build something for the long-terms and continually meet analyst expectations in the short-term. it's crazy, nobody can build a business like that. stuart: well said. ashley: propped is up 55% in the fourth quarter. revenue up 22%. the cloud business, 47%. they are the middle of putting

down the groundwork for their own delivery system. this is a company that's investing heavily this year for the future. forget the analysts. stuart: i don't make recommendations or stock price forecasts, but i don't think that amazon stays down at $810 a share very long. >> and their objective is when people order from amazon prime they eventually could order and have delivery within four to six hours, so they have to build and construct these massive facilities and plus-- >> i have a question. >> their investment in content has been significant and it's working. stuart: did i hear scott shellady saying, i've got a question. ask it, scott. >> yes, here we go, how about this, would you rather have a job with amazon or have a job as an amazon analyst? point over. stuart: good one. [laughter] i'll take the job with amazon, thank you very much indeed. >> they're creating another 100,000 jobs this year. ashley: in the next 18 months.

stuart: let's not forget, 100,000 jobs, full-time, full benefits. >> right. stuart: and 25,000 spouses, partners, and veterans, i believe. >> that's correct. stuart: all in the hopper, not bad. amazon is down $28 as we speak. butoming bk a little from where they were. now, 227,000 jobs created last month, that was in the jobs report. okay. got that. i don't think that's a big player in the market today. listen to this, japan reportedly investing big in america. they want to create 700,000 jobs, they're spending their money to grow our economy. companies-- this is window dressing for the prime minister of japan's meeting with president trump next week. >> and it also takes away possible friction or trade war with japan when you're cooperating, cooperating on high speed train projects here in the northeast, texas, california, going to build liquid natural gas terminals in

japan. why is that important for us? we can then pass on our natural gas sales to have another outlet and distributor. it's fascinating stuff, but, yes, japan says it's going to use, perhaps, it's foreign exchange reserves to pay for all of this. but, a huge win for donald trump. stuart: they're going to use their foreign exchange reserves to pay for our bridges? don't you love it. >> wonderful thing. stuart: i love it, maria, welcome. maria: thanks for having me. stuart: japan says they're going to spend the money for jobs here, a week before the prime minister is meeting with donald trump. maria: i think it says to me, president trump is going to have an easier time than people thought of doing bilateral deals, bilateral with japan, bilateral, with bilateral. stuart: that's one-on-one. maria: correct. stuart: our country, america, dealing with japan one-on-one, bilateral. maria: and he wants to do that

with mexico as well. stuart, do you think there's any scenario where mexico does well and prospers without cooperating with the united states? >> no. maria: any scenario? >> no, there is not. >> i think they're paying for the wall, stu. stuart: he's got leverage. trump has leverage. now, here is another huge story emerging today. president trump is putting financial regulations on the chopping block. you know, dodd-frank, that huge bureaucratic monolith is going to be dismantled. i've got to say that's good news for the banks, especially the regional banks and advisors as well if that fiduciary rule goes away. some of the biggest names in the financial business, j.p. morgan, regional banks on your screen now, look at them go up. that's because of dodd-frank maybe going away. how about this? i've got j.p. morgan, i've got ibm, the guy from the cleveland clinic arriving. thank you, maria, not good with names at my age.

[laughter] >> they're all walking into the white house this morning. and big meeting. don't think that this is going to be president trump laying down the law. this is a two-way street. they're going to argue with him this morning and establish, i think, a new relationship between the presidency and american business. maria: i totally agree with you, stuart. on the table will likely be tax reform. will likely be rollback and trade. and listening to the ceo about what the trade and immigration policies, how they will impact businesses. stuart: and the market loves this. the dow is now up 102 points and it touched 20,000 again just moments ago. and that's where we are now. up 102. 19,986. moving on from there, look at google. now it is more valuable as a company than apple, okay? terms of the most valuable brands, i think i should qualify that. most valuable brands. alphabet bigger than apple.

go pro is down 13%. a weak sales continue to be a program, a problem, rather, for what's often called a one trick pony, and more people are using visa and the company is making more money, that is a very big gain for a company of that size. a 4% run-up. cyber security firm, fireeye, reported the first ever drop in quarterly revenue, wall street doesn't like that, and it's down 16%. a name you know, clorox, better sales, look at the stock go, 3% higher. hershey looking down the road, they see better profit, nonetheless, the market is taken down a bit. nearly 2 bucks, nearly 2%. chipotle reported sharply lower quarterly profits and they can't get that turn around and that's the reason, nicole, they can't get the turn around from the problems they had with food and sickness, is that right? nicole: the food-borne illnesses that date back to

2015 and that was e. coli, and the norovirus and they've worked to win back the customers with free burritos, advertising, promotion, but the latest quarter still saw a down arrow for same-store sales overall. january though, i will say, january rose for the first time in five quarters for the january part of it. so we'll see whether or not they can continue that trend. the other thing that's worrisome while the stock is a little higher right now is the outlook and they're just basically giving a reach goal outlook, rather than something a little more realistic, and avacados are expensive. stuart: expensive rice and beans for some of us, but that's pejorative statement. maria: and jack otter was on the show and barron's on-line editor told us. stuart: here is a story. i love this one. huge pay day for snapchat now

known as snap, inc. the guys who own it, run it and started it, they've officially filed to become a public company. look at the numbers, evan spiegel and bobby murphy, 3.7 billion each. chief strategy officer 46 hf million dollars, pour old emron, 46 million. and lynton, the mentor of evan spiegel, i believe. ashley: not bad. stuart: wait a minute, the company, listen to this, snapchat-- snap i should say, employs only 1,800 people. that's it. and yet, they're worth $25 billion. ashley: the tech world. >> not only that they've lost $900 million in the last three years. wall street is valuing this company at 20 to 25 billion dollars. to me that is obscene for a

company that hasn't defined how they're going to make money. stuart: it's not that bad. wall street thinks they've got a market, they've not youngsters. maria: remember a couple years ago when google wanted to acquire snapchat, the company was nothing, we'll give you $3 billion and everybody thought spiegel and his colleagues were nuts, no, no, we're not going to get acquired and what is the valuation now? >> 25 billion. maria: good call, guys. ashley: venture capitalists, where did they first start their money, benchmark, which invests in the startups, put in 13 1/2 million four years ago on snap. now worth $13. it's now worth $3 billion. if four years from 13 1/2 million to 3 billion. wait a second. a heck of an investment. stuart: may i make my point. this is my show and i'm going to make my point. ashley: all right. stuart: here is a company worth $25 billion. and it only has 1,800

employees. ashley: yes. stuart: that's massive wealth creation without job creation. ashley: yes. stuart: and that's true of almost all of the huge technology companies which we've seen go public recently. what was that one that was sold to facebook for $19 billion, what was that one. maria: oculus-- no, google and-- >> 55 employees. >> whatsapp. stuart: thank you, shellady. i know you're listening. they sold for 19 billion and they've got 55 employees. can you imagine that? >> there's over 100 million users on this on a daily basis, a crazy number. but they still haven't defined. i'd lo, i'd challenge anybody to tell me exactly how does snapchat make money or anticipate making money? >> there's the challenge, maria, an answer. maria: eventually have to go to an advertising model. come on, any other advertising model. stuart: if it disappears after ten seconds, where is the ad?

>> in those ten seconds, it doesn't matter. stuart: shellady, do you have anything to say on the subjects that i've been covering in the last minute and a half? >> yeah, well, you know, stuart, i've been thinking a lot and what's been happening over the last couple of weeks, i mean, what is the problem that people have with democracy? we've got a candidate that said if he's elected he's going to do this, do that, do the other. he got elected fairly and squarely and now he's doing this, doing that and the other and people have a problem with it. i just don't understand what part of democracy they're having a problem with and i've gone back and searched and still searching for the headline conservatives riot yet again so i'm confused. stuart: i'm waiting for the headline, democrat gives back the tax cut that donald trump provided him or her with. i wait in vain, but i live in hope. i want to show you nordstrom. why? because the department store chain has dropped the ivanka

trump brand from its stores. what nordstrom says in a statement, that it makes buying decisions based on performance. however, they have been targeted as a boycott by #grabyourwallet. ashley: they caved. maria: and now you'll see the trump supporters boycott nordstroms. >> where are the liberals going to shop if they're boycotting. they have the right to boycott, to vote with their dollars, where are they going to shop. maria: tom ford, he said he wouldn't dress melania. didn't do anything to him and he says i'm not going to dress melania trump. stuart: and iphones in india, a warning shot across the bow to china isn't it? meanwhile, president trump is going to want samsung to make phones here.

is that to apple, making phones there-- >> samsung has 2% of the market in india. they're looking at ways to increase their footprint, but this does not go well to donald trump. maria: what i want to see, 246 billion probably going to come to america once the tax policies go in place. and president trump is trying to get companies to try to take that money from overseas and bring it back to america. you have to believe some of apple, $246 billion cash pile is going to go to work in america. >> and also, apple is looking for a tax-free arrangement in india for years. so, it seems as if they're going to-- they're going to try to market these deals outside of the u.s. in order to get trump to make an offer to them that is acceptable. so, i think that' interesting to see that there isn other end to this deal. it's not just them expanding into india because they want the market. they want tax-free profits. stuart: there's a gigantic

negotiation going on between the titans of silicon valley with about a trillion dollar in cash. where do you build your product and what are we going to do about visas? that's the negotiation. maria: you're right. stuart: gary cohn, white house economic director appeared with maria this morning. listen to what he had to say about tax cuts. >> the objective is lower corporate taxes as a starting poling with personal income taxes, especially for the lower earners. we're not earners, we're not spending a lot of time with high earners, then you have to balance the pass-through businesses in the middle so we're spending enormous amount of time trying to drive down corporate taxes and every one of the ceo's we met with, it's been their second most important topic, is the tax rate, making america competitive in tax rates. stuart: i've been ranting about this, that we should have made

tax cuts job one and not obamacare reform tax one. and gary cohn hinted a little displeasure with the schedule there, is that what you got out of that. maria: for sure. i agree with you, tax cuts is really part of the biggest reasons that donald trump was elected, frankly. but the truth is that obamacare has taken precedence, they're going to roll back and replace obamacare and a lot of people would say that replacing obamacare is one of the biggest tax cuts of all because you're really taking the shackles off of business. later in the year, we will see tax reform. i have no doubt at that tax reform is a major priority for gary cohn and donald trump and i think we will know what the plan looks like in the first 200 days and it will be retroactive to january 1. stuart: you're absolutely right to bring up the idea if you repeal and reform obamacare you give a whopping big tax cut and rulatory cut for american business. i keep forgetting that. i i think of tax rates as my

tax rate or corporate. but obamacare was a tax policy. maria: businesses have been sitting on cash, unwilling to hire workers, and putting full-time jobs to part-time jobs. stuart: and president trump met with the senior lawmakers in the senate and house yesterday. joining us is tax foundation president. you, sir, are a tax guy. how does it make you feel that president trump meets with senior tax policy lawmakers yesterday and then comes out of the white house and all he talks about is nafta and trade? >> oh, i know, stuart. i think you and i agree that tax cuts ought to be number one on the economic agenda, but unfortunately, it looks like it's going to take a back seat to obamacare. you would think that washington could multi-task, they could do both obamacare reform and tax cuts at the same time, when they set up the budget rules such a way to do one and then the other and we can't do both at the same time. stuart: you can't do tax reform

simultaneously to dropping and reforming obamacare. obamacare is too complex. it requires all kinds of compromises and legislations through congress. it's going to take a long, long time. what's your outlook for the timing of the tax cut package? >> he think we're probably likely to see something come out of the house of representatives, by probably mid summer, and then, of course, it will bog down in the senate and with a little bit of luck they can get something done by thanksgiving at the best. stuart: thanksgiving at the best? that's not what this market wants to hear. this must be disappointing to you? >> absolutely, i think it should be done today. the economy doesn't-- shouldn't have to wait for tax reform. we're losing competitiveness to the rest of the world. we have the highest corporate tax rates in the industrialized world, i think that everyone understands that. u.s. companies are uncompetitive in this global market. and i think that the sure fire way of reviving the economy is tax reform and it should be done now, not thanksgivi. stuart: scott, i blame the

republicans. i think they're divided on what kind of tax cuts we should get and what kind of deductions should go away. i'm blaming republicans. how about you? >> well, they hold the keys to this. and obviously, i think that paul ryan and kevin brady in the house have a pretty good plan that seems to be the architecture of what will eventually come out of the process. but, the senate has its own ideas and obviously, donald trump has his. they all have to come together and meet, and that's going to be a big challenge. stuart: now, what deductions do you think they're going to do away with? i hear there may be some limitation of the mortgage interest deduction. stuff like that. what do you hear? >> well, you have to do some of that in order to lower rates and especially if you don't want to blow a hole in the budget. so i think the biggest thing on the table is probably the state and local tax deduction and this will probably go. you'll hear squawking out of new york and california, but everyone will get a lower rate as a result of that. you have to do things like that in order to simplify the tax system and lower rates. you have to have a little pain

with some of the sugar. stuart: okay. scott, look, thank you very much. thank you for joining us. i don't want to hear thanksgiving at the earliest for a tax package. it's not me, this is growth in america's economy. you can't get growth in the economy unless you've got serious tax cuts. thanks for joining us, we appreciate it. right now, the dow industrials are holding with a gain of well over 100 points and most of the dow 30 are in the green and that means they're up. the trump administration taking on the unions, vice-president mike pence wants wisconsin governor scott walker to help the white house limit collective bargaining for federal workers. now, there's a story. we'll be back. ♪

hi, it's anne from edward jones. i'm glad i caught you. well i'm just leaving the office so for once i've got plenty of time. what's going on? so those financial rulations ing talked about? they could affect your accounts, so let's get together and talk, and make sure everything's clear. thanks. yeah. that would be great. we've grown to over $900 billion in assets under care... by being proactive, not reactive. it's how edward jones makes sense of investing.

>> well, here is a news alert for you, president trump interested in national restrictions on unionized federal workers. that is a headline and a half,

ash. ashley: it's interesting because scott walker says he's been having conversations with vice-president pence and wants to know and he and president trump how did you do that. because wisconsin basically barred collective bargaining from public unions over working conditions. in wisconsin you also can't negotiate for pay raises above the rates of inflation. this is interesting because donald trump says i want to revolutionize what we do with the federal workers and their unions. he wants to make it easier to hire and fire at the federal level and base pay raises on actual merit as opposed to length of at the point-- tenure. and you've been there ten years you get a pay raise. donald trump wants to base on performance. what a concept. stuart: that's federal unionized collective bargaining. public sector. president trump is wildly popular with private sector unions, that's right.

maria: that's what i was going to say one word for you nafta. trying to do it right now while he's got many unions in his corners because they're happy he's about to rip up nafta. what did nafta do? okayed companies taking their production and going overseas and to mexico at a cheaper level and selling back to america and because it was okay to do during free trade of nafta, it became a template. unions hate it, they think it encroached on their jobs and that's why they're all in on trump. stuart: we're looking at developments from president trump as a positive and i think it's legitimate to say they're positive. we're ignoring the background noise from the left which is demonizing this president. ashley: obstruction on every step of the way. every turn of the corner, every roadblock. all they've got to be honest. stuart: for everyday america, does this cloud of opposition

from the left, this contempt that they hold our president in, dos that cloud and obscure the real successes the president is encountering. maria: 100%. stuart: at the business level. maria: i think that people are onto it, sick and tired of seeing it on the media and sick and tired of the celebrities talking about it as well. stuart: you're a celebrity. maria: i am? i'd like to say journalist, thank you. don't know if that warrants a thank you, but. stuart: are you insulted if i call you a celebrity? >> i think i am. let me think about that. stuart: lady and gentlemen, you may have noticed many people on fox and fox business are wearing red today, i've got a red tie, ash a red tie, you've got a brilliant red dress. explain why a red dress. maria: we're supporting people going to check their heart, that heart disease is still the number one killer and today is go red for heart disease. go get checked, make sure to take care of yourself for cardiovascular disease, it's

scary. stuart: isn't it only for women's heart health, isn't that it. maria: cardiovascular disease in general, but the e-mail we got suggest women wear red, but you're all in on it. stuart: i want some cue, and in general-- >> cardiovascular disease is the number one killer not just women, but men, too. stuart: i had my heart checked. ashley: news that he has one. [laughter] just kidding. stuart: left-hand side of the screen, you're looking at the white house. those are not people going into the big meeting, but there is a very big meeting, i believe, it's just about to get started. president trump's very much on time. okay. there you have it. with the dow at 20,000. please. please. >> he got it, he got it. stuart: you're incredible. stuart: i got it. now this, we have never seen a presidency start like this.

it's a whirlwind of activity and reversing all that the left holds deer. he said he's going to do it and he is clearly doing it. those of us in the financial world are focusing on the relationship with business. never before seen the parade of businesses going to the white house and never before seen business put on the spot. this is not a pro big business president, no, he wants a deal. i'll give you tax cuts, less red tape and take the government off your back, but, you've got to bring your money back here and you've got to build your products here. there is a "or else" in there as well. play ball or you'll make the president mad as hell. the carrot and the stick. he chalked up another win as of this morning, japan's leader will present a package deal when he arrives in d.c. next week. money from japan will finance 700,000 jobs in america. he wants to get on trump's good

side. now, all of this is being clouded by the extreme reaction of the left, violence at nyu last night. wednesday night, it was berkeley in california on america's campuses only anti-trump opinions are allowed. in nordstrom, trump-related products will not be sold. a mass boycott. entertainers falling all over each other insulting our president. and it was bruce springsteen doing that in australia last nigh and the boycott of cabinet confirm nation votes and you will see empty chairs. donald trump has been the president for just 14 days, it's the most dynamic 14 days in presidential history. and the temperature keeps rising. the president keeps up a nonstop pace. the left keeps up contemptuous and sometimes violent opposition. it's a live action president sip.

and the second hour of live action varney is about to begin. ♪ get up off that thing ♪ >> only one voice like that. as of right now. with a details on this, ashley? ashley: yeah, we do. this was a panel put together, not last month. it was put together in december. ceos from ibm, general motors, jpmorgan, jpmorgan chase, jamie dimon is there. basically getting together to talk about all the policies and what is needed to get this economy going. it cover as wide gamut of industries. i think there will be heated

debate regarding the temporary travel ban in place by donald trump. there are critics out there, including ford and elon musk at tesla. stuart: let's see what they have to say when they come out of that meeting. we'll have the tape at some point this hour. "washington times" charles hurt columnist. in my opinion we have news from president trump, job creation, about his relationship with business and about the economy. my question is that positive news being obscured and overshadowed by the violence from the left that the contempt from the left and non-stop, stop erything point of view that they embraced? ishat overshadowing the good stuff? >> certainly among the media but among normal people it is not at all. what we're already hearing from the left, with good numbers that came out this morning, somehow trump inherited this economy. he inherited all of the good

stuff that you just mentioned, rightly mentioned but that is not true at all. i'm not an economist but you know, but the economy works on sort of expectations. when companies are confident in the future, they invest more, they hire more. same with people. what we're seeing today, in today's numbers and all of this activity in the white house and dealing with, meeting with harley-davidson yesterday and meeting with union leaders, willingness to meet with absolutely everybody shows incredible optimism which is so needed after eight years of doldrums. stuart: a lot want to get on president trump's good side and i've got an example this morning of a country that wants to get on president trump's good side, namely japan. we are told that they are preparing an investment package. they will bring a ton of money

to america, invest it in america in infrastructure and cybersecurity programs and create 700,000 jobs. by the way, japan's leader arrives in america next week for a visit with president trump. i'm calling that a flat-out trump win. what say you, charles? >> yeah. you don't get that sort of response of foreign leaders by the careful, namby-pamby diplomacy you get from the likes of john kerry and barack obama. you get it from a guy, first of all he is unpredictable. you're not sure what he is going to do. he also causes a lot of -- he is not afraid to kick up some dust, cause trouble. and then what is so great about that it raises all sorts of points that he can then sit down and negotiate with somebody on. it is just like, you know, the media freaks out every time he talks about how mexico is going to pay for the wall. well, you know, it is just

another great point to have out there. it allows him, gives him something to negotiate over. i think that is what we're seeing from japan. stuart: keep them guessing because you never know what he is going to do. >> yeah. stuart: do the iranians know what he is going to do? does apple know what he is going to do? no. he keeps them guessing. >> they're afraid. iran was never terrified of john kerry or barack obama because they knew one thing, they knew that president obama and john kerry would have given them anything to get that deal. so they had no reason to even worry about them. stuart: you know, charles, you and i are having far too much from. young man, you love it. all right, charles, see you again very shortly. thanks very much. >> thanks, stu. stuart: how about this? more protests, violence, this time at nyu over a scheduled appearance by conservative speaker. tammy bruce is with us. the speaker was pepper sprayed on the stage.

look, no alternative opinion is now allowed on any american campus. >> yeah, like my first book came out in october of 2001, called the new thought police, it laid out the premise about political correctness. that wasn't the goal. the end goal was to really condition people to believe that ultimately certain opinions were forbidden completely, and that was going to be the training. we're seeing a generation here that has been trained in that for the last, for the last 20 years, and now this is their reaction. there is a belief this is legitimate thing to do as we're hearing now that hate speech is not free speech because it hurts people. this is what the left has had in mind. this is the plans they have had. they have watched barack obama effectively encourage this kind of resistance. and now we're seeing it play out. this is whether it was berkeley or nyu, this is what we're seeing with the young people. what has frankly can be reversed, i think can be reversed easily. stuart: they want to determine

what is hate speech. they want to define hate speech. they will define it their way. >> that is exactly right. like global warming a very amorphous kind of thing. they can define it however they want. mostly it is defined in a way as heather higgins noted on twitter, we know at least nothing they would ever say. stuart: right. >> that is what we have in this framework. i think campuses, this is why donald trump's reaction to berkeley is important, the leadership of campuses with the classes that they have, the cultural environment now on these, at these liberal universities which is most of them, has got to reverse this dynamic, has got to tell students, what university of chicago did, don't come here if you want safe spaces. there are none. this is what we represent and more universities need to do that. frankly maybe president trump can help make that happen. stuart: well-said, tammy bruce. stay there please. breaking news on iran. sanctions. ashley: we announced this in the last hour. we're getting some small details

coming in. u.s. treasury expected to announce the sanctions at the bottom of the hour but we do know they will involve 13 individuals and 12 entities. again underu.s. sanctions authority coming out of the u.s. treasury department. of course on wednesday the administration is putting iran on notice that it can't get away with the testing of ballistic missiles, direct violation of the deal that was done with them. so the trump administration following through on the tough talk on iran. stuart: much sharper approach. case closed. got that. now check that big board. you know we cover politics and money and they are closely intertwined. political developments very positive for the stock market this morning. namely the unraveling, likely unraveling of dodd-frank. that is the financial regulation machine which sits on top of wall street. which has hamperedded it for years and years. get rid of that. look at bank stocks go straight up, including the dow up 130 at

20,019. amazon sti the stock of the day. is way down. here's where we get to my rant about expectations. amazon missed expectations, and because of that the thing is down 3.5%. profits are up 50%? >> 55% profits up in the fourth quarter. revenue up 22%. still not good enough, missing those quote, unquote, expectations. i don't want to get your blood pressure up. giving softer than expected guidance for this current quarter. as we mentioned the cloud business up 47%. total online sales of all online sales 40% was amazon. they're continuing to invest heavily. they're already building this, their first air cargo hub in kentucky. one 1/2 billion dollars project. they are laying the groundwork to dominate the delivery system. stuart: i'm not in love with amazon. i'm not forecasting amazon's stock but it makes me mad as

hell a bunch of analysts get together to take down a brilliant company and the stock price comes down, what, 6%, no, less than that, 3%. that is extraordinary stuff. ashley: based on those numbers. stuart: which have a shooting at the louvre museum in paris. it was a man, he was carrying a machete. he was shouting "allahu akbar!." he was shot in the stomach. officials are calling it a terrorist attack. the man who was shot is in serious condition. that happened outside of the home of the "mona lisa" in paris. action-packed meeting at the white house, president trump meeting with business leaders. more executive orders are on the way. got to keep up with this lot. more "varney" in a moment. ♪ [vo] quickbooks introduces jeanette

and her new mobile wedding business. at first, getting paid was tough... until she got quickbooks. now she sends invoices, sees when they've been viewed and ta-da, paid twice as fast! see how at quickbooks-dot-com. stuart: in the news. macy's stock halted. what is the story? have you got the story for us nicole, please? >> don't forget we were looking at macy's yesterday. the stock began to surge and it was halted. you see that on the intraday. surges higher, hits the top of volatility so you always have that pause. yesterday we talked about the fact that they were considering selling themselves and now it says macy's talks are in the early stages, may not lead to a deal. hudson bay makes takeover approach to macy's. we talked about the ceo terry lundgren looking to try to field a possible takeover. that was because you had the

shareholders, activists investors, starboard in particular, trying to shake up the board. he was trying to feel this out. this was not part of the plan. the stock is up about 5%. i would anticipate we'll get a little more news. halted here on the floor of the stock exchange. look over high shoulder to see if i can see the crowd. stuart: thank you very much, nicole. this is part of the tail ice age story. ashley: yes. stuart: department stores, bricks and mortar retailers are in deep trouble. ashley: they are. stuart: some will go out if they're not careful. one of them macy's, clearly looking for somebody to buy them. ashley: i thought they would be more resistant of retailers out there, but they're not immune either as we talked about the juggernaut amazon and other online retailers. all the major brick-and-mortar stores were slow to adapt to internet and online sales. they have been playing catch up ever since. for some it is too late. stuart: you used the magic word, amazon. ashley: yes. stuart: amazon as a company is now worth more than the eight

largest bricks and mortar retailers combined. ashley: incredible. stuart: that includes walmart. that is a stunner when you think about it. ashley: really is. they continue to grow. they will be dominating more and more as they look to take over the actual hauling and then delivery of their product, taking out the middleman. >> can i just add, we were talking as you mentioned amazon, they're building new distribution centers. ashley: yeah. >> these jobs are going to go. if these brick-and-mortar stores go, as they have been, people who worked there, their careers are going. amazon in some way has the responsibility not just facilitate their need for distribution but think about those individuals who become the, you know, the rejections if you will, the problem with these brick-and-mortars shutting down. amazon needs to consider that and how their business model can a accommodate them. stuart: macy's started trading. i think that is accurate quote because it is moving. it is up to 32.72.

reportedly there is an offer to buy macy's. macy's has been in some trouble. they are going to close stores. they're looking for a wealthier parent i would guess and they found one. they're talking with a partner. reportedly hudson bay but i can't confirm that. ashley: no. stuart: nonetheless i can show you that the stock is up 6% or is that 5% and change? okay, nearly 6%. macy's moving as of this morning. right, i want to bring in our next guest. important guy. he serves on the house oversight committee. republican from ohio, congressman jim jordan. you, sir, got a bone to pick, forgive me, sir. you are determined to repeal and replace obamacare before we get a tax-cut package. a lot of our viewers don't like that. the market doesn't like it. defend yourself, jim jordan? >> well, both are important, as well as the regulatory reform we're doing. so all three of those things are important if you want to create an environment conducive to economic growth.

here is our concern about health care. we run elections about this on last three cycles. american people know health care has to go, obamacare has to go, excuse me. health care gets better when we repeal obamacare as quick as we can. stuart: why did you have to do it first? you can't do it real fast because you have to go through congress for all kinds of adjustments to the legislation. why didn't you go with tax reform first? >> well, just i think sort of the way it worked out. it was a central issue in the campaign. has been a central issue ampaigns, in '10, '12, '14 and last election. it create as environment helpful for economic growth. remember this thing right now, we have talk of repairing it. we have talk from members saying oh, if you like your obamacare you can keep it in certain states. so we're hearing talk about people not wanting to fully repeal it. longer that goes on, takes longer to repeal it.

repeal every tax and mandate in the bill and bring down the cost of health care. stuart: congressman, it is your party. it is republicans which are split on repeal and reform of obamacare. it is republicans split on tax reform. when do we get it, how do we get it, what is cut, what is not cut. it is you are split? >> even if we did tax reform first, there would be a big debate there too, stuart. there is not, i don't know that everyone is on the same page on tax reform yet as well. so, which one, whichever one came first, let's get it done, let's get both of them done. sooner we get tax repeal or health care reform done sooner we get to tax reform. stuart: okay. >> so both of those should happen. stuart: can you give me a time frame, albeit a loose time frame, when do you finish with obamacare? when is it done gotten out of the way with and when do we see a tax reform on the president's desk and give me a time frame.

>> when we obamacare repeal done and tax reform next year reconciliation and instructions, that is when you get tax reform. i believe both will be done this spring. what we told voters to do. stuart: hold on a second. i have to break away. i apologize for interrupting you. president trump made some kind of statement on taxes as meet -- ashley: meets with business leaders, look, i will follow up with tax and health care bills soon, quote, unquote. he also says he is very happy about the u.s. jobs report but the big headline so far, i will follow up with tax and healt care bills soon. stuart: coressman jim jordan, you heard that the president says i will follow up with tax and health care bills soon. but he said it in that order. >> i mean, that is fine. part of the concern is we want the senate to confirm, we need dr. price at health and human services. that will help us get health care and obamacare repealed. health care moving in a better direction if we get dr. price over there.

mr. mulvaney at omb, so we move on budget issues and tax issues as well. those will help but we are waiting for senate to confirm the good picks president trump has put forward. stuart: congressman, we're getting a lot of viewer response, chastising me going after you. i'm sure show him no respect they say. that is not true. thanks very much for coming on the show. come back anytime because we really want to know what that schedule is. >> both need to happen. stuart: thank you very much, congressman. good stuff. >> thank you. stuart: tammy bruce, you were hearing all of this. i think you probably agree with me i we'd like to see tax reform first. what do you make of that legislative schedule? >> paul ryan said in his weekly address yesterday that he actually expects the obamacare repeal and replace by the end of this first quarter. he also corrected in saying that in repairing, in order to reirpa the health care system you have to repeal and replace obamacare. here is what we know. the republicans have not done

enough last eight years certainly to do just that. they were elected to do that. they took the house saying we would get rid of obamacare. they took the senate. of course the republican party is not wanting this you about that is why donald trump was elected. so we know americans want health insurance and health care. we know donald trump has promised them that. at the same time you've got the politics that are going on in the senate. i think they can do both. also the repealing of obamacare immediately affects the tax code, nature how much money is in the american pocketbook. stuart: that's true. >> that is the mood that we can move on. frankly we can do it all. i thinke should expect to do it all. stuart: optimism amongst us. >> yeah. stuart: ashl please repeat what the president said about health care and taxes, say it again. ashley: just said i will follow up with tax and health care bills soon. like the order of that, tax and health care bills. stuart: i don't know whether there is any significance in the order there but sounds to me like the president is saying to

business, that, and is saying to congress, get on with it. ashley: yeah. stuart: please get on with it. ashley: absolutely. stuart: he has got to get on with it. we get bogged down for the year, the market suffers, the economy suffers. ashley: yes. stuart: i hope he is using his bully pulpit, and i think he is to get things moving. would you repeat also the news on iran sanctions, please. ashley: looking at this, again the trump administration imposing sanctions on 13 people in iran and 12 companies. now just looking at where are those companies? from what i can tell some of them are located, these companies do business in the united arab emirates, lebanon, china. these companies do business with iran or of iranian origin are being sanctioned. stuart: i want to repeat what the president said because that may have had a little bit of influence on the market. the president said tax and health care bills will come soon. in other words, he is forcing th issue.

get on with it. the market likes that. the dow jones average is now up 130, nearly 140 point, back well above the 20,000 level. there is other positive news for the market, namely idea that we're going to roll back, get rid of, dismantle dodd-frank. that is the gigantic financial reform bill that hovers over wall street all the time. get rid of that, you will see bank stocks, they're already going up significantly this morning. ashley: yes. stuart: i saw jpmorgan, i saw goldman sachs -- ashley: bank of america. stuart: bank of america. the regional banks are doing even better because it was dodd-frank that clobbered about regional banks and community banks all around. ashley: those are the banks that give loans to small businesses. so it is really, really handcuffed the creation of jobs through the lack of money and loans being provided to small companies. stuart: at some point we get the russell 2000 index on the screen. that is index of largely small companies. when that, that is an important indicator of sentiment towards smaller companies in america.

all right done very, very well. if dodd-frank really is rolled back, smaller companies will do even better. ashley: yes. stuart: because dodd-frank really hurts the little guy. access to money. ashley: yes. stuart: restricted access to money for them. they have, russell 2000. not a bad gain. .77% gain. that is better gain than the dow industrials. smaller companies are on board very much with the decoding the, getting rid of, dodd-frank what i'm trying to say. alert the media. elizabeth macdonald joined "varney & company." happy to say. we have had a tumultuous morning. what have you been doing? liz: doing my part to add to global warming being a gas bag on "wall street week," climate change, whatever you want to call it. >> whatever it is this week. stuart: you followed everything.

you followed what we've been saying. am saying there are a lot of very positive developments this morning on political front. liz: yeah. stuart: president trump doing this, this, and this, overshadowing the contempt coming from the left. that i think is reflected in the market. liz: you know what i'm watching? i'm tracking the story, big one for russell 2000. you're right banks were in a mini ice age. bank regulators are acting like safety engineers and put a x-ray blanket on lending. the koch brothers are a big huge factor. what the koch brothers are doing, they have a huge network, $400 million they give to republican candidates, the koch brothers are extremely angry about that border tax. they don't want it. what is happening they're saying to republicans in congress, you will go back to the districts to say we'll raise your consumers prices by $1.2 trillions border tax of 20% which is passed on to gas prices and retail goods? that is why the russell 2000 is not popping higher.

stuart: not bad. good reasoning. we'll go with that. liz: go with it f whether you agree with it. stuart: we've got a rally on our hands here. the dow industrials are up 140 points, at 20,027. 142 points. hold on a second. i will segue away just one second. all we've heard about recently is this huge opposition to the president's executive orders on immigration. it was really a temporary travel restriction on people coming from seven countries. furor about that. you would think the heavens were about to fall. i will bring in a republican from florida, congressman mario diaz-balart who is with us this morning because the good, congressman, will point out some hypocrisy. wasn't it the obama administration which sent back refugees from cuba? tell us about this please? >> express. as a matter of fact he did this at last waning days of president

obama's administration. he in essence through executive order in essence changed the laws to how we deal with cuban refugees. in essence saying we'll not accept them anymore the way they had been accepted for frankly decades. now, when he did that, he did it to please and to help and to appease the castro dictatorship, not for any national security reasons for the united states, and yet, very few people complained. as a matter of fact, a lot of the that are now crying, people now crying were applauding when president obama did that. stuart: there was no outrage when cubans were just sent back, just like that, certainty back to a dictatorship, there was no outcry anywhere. there was no outrage anhere. when our presidentestricts the travel, temporarily, from seven, basically failed states, terror hot spots, you would think that the earth was going to end.

how do you explain this? >> look the hypocrisy and the double standard is frankly hard to fathom and hard to explain and look, i get it. if folks don't like president trump's executive order, i can accept that. i can accept if you like president obama's executive order, but inconsistency of applauding one while then rejecting the other and only reason is who did it, what president is the one who made that decision is frankly hard to swallow. now, the reason president obama did what he did was at the request of an anti-american dictator that was, until president obama again arbitrarily took it off the list was a state sponsor of terrorism. that i guess is okay because as president obama but when, when president trump decides for national security interests to do something, it is as if frankly you know the world was falling apart and it was the end of the universe. the inconsistency, the hypocrisy

is the one thing. that is what i was referring to, the hypocrisy of the response which has been frankly rather dramatic. stuart: congressman, hold on a second. i want to move on to a breaking and developing story. new sanctions on iran? ashley: we've been reporting 13 individuals, 12 companies. basically treasury department targeting supporters of iran's ballistic missile program, also iran's revolutionary guard corps. we are sanctioning multiple entities for those involved in procuring technology and or materials to support iran's ballistic missile program. also those that act in support or provide support to this program. it goes on to name quite a few networks of which i'm not going through all of these. but that is basically the crux of this. they're going after people directly involved or those involved in supporting iran's ballistic missile system. stuart congressman diaz-balart

still with us please. come on on that. much harder line on iranians, briefly please? >> as it needs to be. president iran gave everything it wanted to, asked very little in return and iran is thumbing his nose at the united states and the world. we fortunately have a president that will not appease enemies of the united states. stuart: congressman, thanks for joinings us. much appreciate it. >> thank you, sir. stuart: on the left-hand side of the screen. that is the white house. the president meeting with his business advisor council. can we put up on the screen the people in that meeting? because it is a cross-section of american business. liz: jack welch. mary barra, gm. disney. ashley: we have jamie dimon from jpmorgan. earnings and young mark weinberger. it covers a wide gam mult of top industries. stuart: now i think the president is establishing a new relationship with american

business. there have been mighting somewhat similar to this across the board for the last 13, 14 days since he walked into the white house. ashley: yeah. stuart: we have never ever seen anything like this before. let's not confuse this with the president being pro-american corporations. as if he is the mouthpiece for american corporations. he is not. he is going up against them. he wants something from them. he has a carrot, tax reform and deregulation and a stick. liz: it's a different era, right? we think the last eight years was normal. it wasn't. it was an abnormal period of time. when did you hear a congressman say i'm not concerned about your income and when he is hiring jobs? that is unusual. tax reform is big on the list. i don't think they need to do the border tax. they do a reagan did, put a cap on japanese autos. got japanese companies to build

plants here when they capped autos. stuart: just a stick he is wielding. liz: hear what you're saying. stuart: you respond to my carrot or something else. excuse my language. speaking of language, here is charles payne. not bad at all. are you going to sing today? you did last time. >> dow 21,000. i will bring the old frank sinatra. stuart: there are all kinds of very positive developments today on the economy coming to us from president trump. new relationship with business. the japanese come here and give us a lot of money build plants and jobs here. this is good stuff, charles. >> good stuff coming out of the white house and also good evidence this week. that is what i'm excited about. it is one thing to be enthusiastic and excited. another thing to see it manifested into reality. we got a lot of evidence this week. stuart: show me. go. >> avery dennison, packaging

company, corrugated boxes. any indkate torere economy is going, demand for boxes and labels. blew away. ism, all commodities prices went up. why is this good? none were in short supply. it was all about demand. all about demand. of course today's jobs report. what about this jobs report? mining jobs are up. last year at adp we lost 6,000 jobs every month in mining. last month we gained 6,000 jobs. we averaged about 7,000 jobs in construction. we had 36,000 jobs. i mean, complete sea change. and so now it is not just the excitement and enthusiasm that we saw instantaneously after november 8th. now it is manifesting into reality, it becomes contagious. stuart: maybe i was wrong. i said the jobs report has nothing to do with what is going on in the stock market. >> you have to comb through there. there are amazing signs. think about the 36,000

construction workers. we have a heroin epidemic. part of that is dad doesn't have a job in five years. man of the house earning income, being a father, having the household dynamic that has been an american hallmark. we cure a lost i wills in this country you don't see with the headline number -- ills. stuart: good one. left-hand side of the screen, the white house where the business council meeting is being held where we speak. we'll get the president on tape shortly. don't know exactly when. when the meeting ends, the president comes out make as statement. he is in the middle of a meeting, he makes a statement, he says things. one thing he already said he is being quoted on, and that is, tax and health care bills are coming soon. is that correct, ashley? that is precisely right? ashley: what he said. i was reading something else, he applauded the january jobs report saying it shows, quote, there is a great spirit in this country right now. so that from donald trump.

stuart:s tammy bruce. >> to liz's point the last eight years are not normal. we wondered why wouldn't barack obama meet with incredible talent in this company in business and in tech to figure out how to make things work? it wasn't normal. this is what donald trump is doing. meeting with individuals, making plans and making it work, at that level in addition to legislation. stuart: we're just a few seconds away from the tape of president trump at that meeting with ceos. market down. the dow is up 128. go to the tape. >> really world-class group and i wanted to thank and congratulate steve. you have done, as you amazing job. steve called me up the day after the election, might have even been the same night, jamie. you know steve. now that i think maybe one minute. he said i would like to put together a group of world class leaders. that is what he has done. good stock, -- job, steve.

couple thingsed happened this morning. 227,000 jobs. great spirit in this country. we're happy about that. it is big league. we're bringing back jobs. getting down your taxes. we're getting ridded of regulations. there are exciting times ahead. we're doing it. we'll come up with a tax bill real soon, health care bill even sooner. it is really working out. toby from the cleveland clinic has been helping us a lot with the veterans. we appreciate that, toby. you've been amazing, and ike and all of our friends, we really appreciate it. one of the things i heard this morning watching the news amazingly it has never happened before, politics has become a much bigger subject than the super bowl. super bowl territory, i've been saying that politics is more interesting to people. so that's good.

we have larry here. where is larry. larry did a great job for me. managed a lot of my money. i have to tell you, you got me great returns last year. [laughter]. they go crazy but we use very smart people that made money. why don't you get other people to run the economy? i said, no, we have to get the right people. people voted for me understand that. that's what they want. so, when i campaigned for office i promised the american people that i'd ask for our country's best and brightest and we have that. wilbur is representing us as secretary. you're going to be so great, secretary of commerce, wilbur ross. just, carl icahn called up because i hear you got wilbur. everybody calls him as wilbur. we know him as wilbur. we have the great jack welch. legendary jack welch. we appreciate it. we're looking forward in a little while in the upcoming few

moments to discuss all of the things that you think we can do to bring back our jobs, to get taxes even lower than we're going to be cutting them. we have a great plan. but i want your input on the plan in particular, and to do what we have to do in terms of regulation. we have some of the bankers here. there is nobody better to tell me about dodd-frank than jamie. you will tell me about it. but we expect to be cutting a lot out of dodd-frank, frankly i have so many people, friends of mine with nice business, they can't borrow any money, because the banks won't let them borrow because of rules and regulations in dodd-frank. so we'll be talking about that in terms of the banking industry. and with that i just want to introduce somebody i've known for a long time. he has done a fantastic job. we're thinking of in these meetings we'll start maybe on monthly basis. it will go to quarterly basis. all of sudden monthly basis

sounds like a lot. we want your info, we have the biggest, brightest, in the world in this country in this case. we have a manufacturing group which is worldwide where we have, as you know, great companies represented. but these are the biggest and the best minds in this country and i really appreciate you being here. i wan to thank steve. steve, maybe say a few words. >> sure, well, i'd like to just start out and, thank everybody for being here. the purpose of this group is just for general discussion, which is okay, but the real purpose is to get things done, to advise the government, as to areas where we can do things a lot better. as a country for all americans. and the bottlenecks and thinks. we have a full agenda. unlike a lot of other meetings that happen of this general type. we're going to cover some of the

immigration things. we're going to cover regulatory relief. we're going to cover tax and trade, women in the work place, infrastructure, and education. and, each of those areas will get suggestions, ways to make things happen, happen faster, to improve the country. and anybody can say anything else they want. but it's really important that we mobilize the non-governmental sector and also importantly that we do it on a bipartisan basis. apparently a first in washington, for a modern washington. everybody on the group was selected because they're terrific. because they have the expertise, because they want the country to do better, and we have no criteria. as it works out we have all kind

of different people from different background and different political persuasions. if we can make things work right, that is the way the country is supposed to work. so it's a big sacrifice for the people who are here to spend the tim busy. this is america. so that put those things aside, to focus on this, not just for me but there is prep work because in any successful meeting, means these people, who have attended, taken their time, care about the country. and so that is the spirit in which we're approaching things. i want to thank everybody, all the committee here. so, thank you. >> go around the room but, before we do that, i just want to say so many people have called, friends of mine in big business, and they wanted to be on the committee, and i called steve, steve, can we get so-and-so? no. what do you mean no? [laughter]. big business. you know public companies.

every once in a while i call him, steve, what about this one? no. he is a corporate raider. these people don't want to be sitting with corporate raiders. five raiders wanted to come on. he has been very, very selective. will be putting a couple more. he has been very selective. i thought we might go around the room. mary and i met last week. we had a fantastic meeting on the auto industry. we had ford there, a lot of companies. great companies. fiat chrysler sergio. i learned a lot about the automobile business. i teought i knew a lot. they are being so stymied, so restricted with regulation, and so many other reasons. they're pouring back into the country already. if you look at mark who is telling us what they're doing with ford and bill ford too. a lot of jobs are going to be coming back into ohio and michigan and pennsylvania and all of the places that really

have been hurt so badly. so maybe we could start with mary. 3@go around the room real fast o everybody, pretty much everybody knows each other, but it would be nice to see. mary? >> mary barra, chairman and ceo of general motors. >> doug mcmillan. >> blackrock. >> rick, bores ton consulting group. >> jim mcinerney, the old boeing guy. >> paul atkins -- >> kevin ward, stanford university. >> elon musk, spacex. >> [inaudible] >> [inaudible] >> dan yergin, asian markets. >> jack welch. -- [laughter] >> mark weinberg, some day maybe i hope, ey. >> [inaudible] >> ginni rometty, ibm. >> steve schwarzman from

blackstone. >> thank you very much. thank you folks. thank you, press. stuart: there you have it, the president as he always does, makes remarks after holding a significant meeting in the white house. this time the business advisory group. that was the meeting he just chaired. he just heard results of it. he said basically there is a great spirit in the country. very exciting times are ahead. stephen schwartzman sitting next to the president said this is all about getting things done. one important sentence in the entire meeting from the president. he said this. there will be a tax bill soon. and a health care billion -- billion even sooner. it will be obamacare first. tax reform second. before we get to discuss that, there is one very important person invited didn't attend, bob iger, the man who runs disney, home of in southern california, in hollywood.

got it? he would not attend. he says because of scheduling difficulties. liz: visa ban. ashley: he has been on the hot seat, as one critic said, uncomfortable, potentially brand-damaging relationship between iger and donald trump. stuart: well that is pathetic. liz: hollywood is still upset about the temporary visa halt. stuart: i d't care what they're upset aboutt. refuse an invitation with other eos to go to the white house on the spurious excuse that you have got some kind of scheduling problem when you know perfectly well there is petition against you even going anywhere near trump. ashley: what is more important being at white house with the country's leader? what i want to know. liz: if you're not at table, you will be on the menu. watch this. we have not just dodd-frank relief possibly coming, right? it will be obamacare relief, tax relief. i say relief, not reform. they may only get through fixes and not wide scale reform. >> disney got a lot of hot water

tech people train foreign workers to take their jobs. espn has been criticized heavily for being overly political of late, instead of talking about sports games. not forget bob iger donated 400,000 to hillary clinton to win the white house. there are a lot of things going on here. same pressure that travis kalanick was under. these guys make the decision. i think the real crazy thing this morning nordstrom dropping ivanka trump's line. stuart: they caved. they absolutely caved. >> same we're in this sort of pickle in this country. stuart: you do your homework, charles. >> left here last night at 8:30. my wife was angry. i spent 14 hours in this building yesterday. but i was prepared. stuart: you're good. >> i make it up this weekend. we'll come see you. stuart: when we started to roll that tape, of president trump after this meeting, with the meeting with the ceos, the dow was up 125 i think it was. now we're up 154 and going up

some more. now we're at 20,039. i think the audience, investors liked what they heard. liz: look at it popping, up triple digits. compare, we have to, because what people are going through right now is whiplash action compared to what obama did. obama basically had one jobs council kind of a thing. jump had so far had multiple meetings with top executives, major corporations. >> pledged to make it a quarterly meeting. we can't do it monthly. initially try it but won't ever be -- listen, to your point barack obama was always a farce. they went multiple years without ever meeting. liz: correct. >> him pushing the agenda. never asking questions. pushing his agenda to ceos. >> difference between people want to make the economy work because good for american people, versus tantrums in hollywood and on the left where i have to say it really is about

not wanting president trump to succeed, because charles, of the points you made. for them it is all political. american people are hamsters on a wheel for them. that mode is changing. this is what they're desperate to stop. but the election itself, we rejected that kind of attitude. ashley: market today is all about financials. the top four performers on dow, visa, goldman sachs, jpmorgan, american express. stuart: and that's because of the roll back likely for dodd-frank. liz: a plan, that is the executive order, a plan. >> guys,vidence conmersre coming back. visa's numbers last night after t bell were fantastic. costco the best same-store sales in three years. you know what, manifestation of sentiment into reality. stuart: let's review this because the dow is now on a tear. it is up 155 points, way back above 20,000 because of a lot of positives, number one, probable roll back of dodd-frank. don't know when. don't know how. look at that. you have got the financials on the upside.

goldman, morgan, american express, on the up side because of probable roll back of dodd-frank. that is number one. charles pointed out inside the jobs report performance from particular sectors, mining, well-paid good jobs, manufacturing, well-paid good jobs, construction, well-paid good jobs coming back. we have positive news coming? what is the rest of the positive? ashley: got it. >> we have to try to pick. stuart: i'm a happy guy. the japanese have said, they're going to bring really big bucks to the united states. ashley: yes. stuart: invest those dollars here. they will take money out of their foreign reserves. they will create 700,000 new jobs in the united states. ashley: high-speed rail in texas, california. part of that infrastructure building. yet japan is paying for that.

stuart: japan want to get on president trump's good side. their prime minister comes to america next week. look what we're doing for you, america. >> they said there would be a lot of tension when it came to trade between america and japan. this is perfect for donald trump. he created a situation where both sides are winning. >> our trade deficit is larger with them than mexico. honestly if you want to talk about someone getting off scot-free with the relationship that is not symbiotic at all, japan a lot more than mexico is. stuart: that is why the big bucks are coming here. >> why they're preemptive. >> general mattis is in japan today. stuart: don't hit my, president trump, lizzie? liz: ral back of legislation, x-ray blanket that put the banking in the mini ice age. house financial services committee did with the fed. stop meeting with european bank regulators. don't do it. we have to see what the trump administration wants to put capital work again via helping to businesses in this country. don't listen to eu regulators

just yet. stuart: only liz could bring out european bankers. liz: federal reserve and janet yellen. watch out. it is about capitalism. stuart: we have a mix of politics and money. that is our program. that's what we do. politics looking very positive towards the economy. the markets responding to that vigorously. look at those dow winners! visa, as you pointed out, charles, terrific numbers. >> terrific numbers, to my point also, not just about benefiting banks but benefiting consumers. fiduciary rule was ridiculous under the guise of somehow helping investors. ability to pay your mortgage. this has kept so many people out of the ability to buy a house. tell me about it. it was under the guise of helping, when i think they knew the whole time it was about punish, punish, punish, with barack obama. stuart: that is why financials, look at regional banks. they just suffered horribly under dodd-frank. liz: yes. stuart: you roll back

dodd-frank. you release -- ashley: regional banks are the fuel for small businesses. stuart: okay. now, i think we've discussed this ad nauseum but it is never enough. ashley: never enough. stuart: when we have a stock market rally going on. i want to thank charles. i want to thanks tammy. terrific performance in the politics and economy. who is next? i will tell you who is next. ken paxton, the attorney general of the state of texas. sir, i want to talk to you about building the wall. i think it was general -- i believe it was general kelly yesterday, homeland security, who said, we could get this thing built in two years. you're on the border. you're from texas. you're the attorney general there. are we going to do it? >> you know what? sound like a good plan to me. we have been waiting for decades to get something done. now to have general kelly on the border we'll get it done in two

years. it is exciting to texance. it protects us. saves the state money. we're excited about it. stuart: can you protect the building of the law from lawsuits? that is the way things are generally held up in america. you file suit to stop it. are we getting that? >> well, i have no doubt there will be lawsuits, but i'm also confident that they can't stop it. the plan that the president has, i read his executive orders. they're lawful. i think they will be moving forward quickly. stuart: there is a big infrastructure project, ashley, on american soil. >> absolutely. stuart: i do have to ask you about sanctuary cities. i know the state of texas is going after them. you don't like them. you want to get rid of them but austin, state capitol, austin, texas, is a real thorn in your side. can you overpower them? >> already happening. the governor cut 1.5 million of fund to the county based on the actions of a sheriff who basically gone rogue, violating the constitution, and stepping outside of what she is allowed to do. you have the legislature, they

just passed out of committee in senate a sanctuary city bill to defund as well. we're taking actions at all levels in our state. stuart: does that hurt the state of texas? this may sound strange but most other states like california, new york, illinois, they're going to bat for sank wear cities. california wants to become a sanctuary state. if they maintain the status and you lose that status in your cities in texas, do you lose? >> no. look at, look at our economy in texas versus any other state. i will take california, take illinois. we're growing. we're creating jobs. we're bringing more and more people into the state. more and more businesses. this is a state that is progressive and moving fward. i'll put us up against any state. stuart: i'm sorry. i was interrupted, mr. attorney general, i do apologize. i have one more for you. i am told they are readying, they have got ready already a high-speed rail line, i think,

is it houston and dallas? i think that's it. it is shovel ready, ready to go. privately financed waiting word from the president which he is going to give. that is a big project about to start in your state. can you bring us up to speed on that? >> you know, i'm hearing about it myself. it is pretty exciting. obviously houston and dallas are our largest cities. there is a lot of commerce back and forth. it will help create jobs, build infrastructure we need. just another example why texas is progressing forward and working with the administration on these projects is really exciting. donald trump talked about how there is an exciting spirit in america and we're definitely seeing it hire in texas. stuart: mr. attorney general, thank you for taking time out to keep on appearing on "varney & company." >> anytime. stuart: on the left-hand side of your screen you will see the camera move around the table there of all the very, very senior at the business meeting

with the president. give me a list, ashley? ashley: steve schwarzman. have auto industry, mary barra from gm. toby cosgrove from the cleveland clinic. jamie dimon from jpmorgan. lots of financial groups. blackrock, larry fink. jim mcnamara boeing. elon musk will raise issue of temporary travel ban. see what comes out of that. walmart, pepsico, big companies of this company. stuart: one company not there, bob iger of disney, under pressure -- uber. he stayed away citing scheduling conflicts. we do have to take a break. we have to make money somehow or another. so we're taking a break. we'll come back. i promise you.

>> then he's going to keep checking back in with them on that project, that prong, that prong. that's how he works, like a general contractor. absent from the commit. >> i votes.

i think the president is overpowering them. it's a tsunami of action. martha: the left is gnashing their teeth and wailing at things going on around them. there will be a pendulum twist. but at the moment, president trump is clearly setting the agenda. the look is trying to find ways to make their feeling known. and they are doing that on pretty much every front. stuart: what's your view of the might be that took place in the white house with the businessed a advisory group. do you see it like that? martha: he does these almost every day. you get an 8-10 minute playback

so the american, the viewer at hope is getting a bird's-eye view of what's happening at the white house. it's like a tv reality show, but i don't mean that in a disrespectful way. they are bringing people into the white house. so few people in the white house had any private sector business. but it's clear there is a relationship between corporate america and this president. stuart: you signed in to do the 7:00 p.m. fox news channel show called "the first 100 days." martha: the show gets put together in the morning, then gets prewritten. we are used to the white house shutting down in the evening. but it doesn't shut down in the

evening. so it's great for us. stuart: we used to have a script, but you rip it up, every day, live action news from a live action president. live is good. martha, best of luck with the new show. stuart: heat's get back to your money. that's the high of the day. now we are up 176 points. a lot of positive news coming out on the legislative schedule and the economy. up 177 points high of the day. a couple of individual sphoks which are not doing well. gopro, sales are down big. weak sales. obviously a problem for them and they are down 13%.

going the other way, visa. the company is making a ton of money. a company that size up 5%. look at the bank stocks. president trump is set to sign executive orders which will begin the rollback of dodd-frank, the gigantic financial re form legislation passed by president trump. this is very good news for the banks, especially the regional banks. it's also good for financialed a advisers. how about amazon? down 3.5%. they did not meet expectations. it drives me up the wall. here is one of the greatest companies in the world, came out with a stellar performance and

the stock is down $27 biewl -- e of expectations. >> when yothink about how stocks are valued, the whole thing is kind of squirrely. stocks move up in anticipation of stocks going up. amazon forecasted doubling of earnings. stuart: i think it's rigged. i think it analysts are getting together and saying let's say this and maybe this will happen. i don't like it. i think it's wrong. amazon reported a 55% increase in profits and revenue. 40% from one company. their cloud business group by 47%. but they didn't meet

expectations and they are down $27. >> it was already in the stock. if it drops down based on forecast which you have and i both just said we are not too keen on. based on forecast, you buy that stock. that stock according to the analysts has an you have side. >> i'm trying to get you ready for the weekend. stuart: try harder. japan is poised to invest big in america. 700,000 jobs they expect to create in the infrastructure and cyber-security industries. that gentleman on the left is meeting president trump next week. i say this is a win for trump's policy of jawboning countries and companies. >> no doubt about it. we need those jobs. i don't understand exactly how

we are going to take lessons and take stuff from japan into if the united states because they haven't done a great job there. they have a different economy of than we do. stuart: they want to get on our good side. we'll take the money would you buy amazon today at $804 a share? >> yes, i would. it could certainly go lower. but i think that stock will be over $1,000 a year from now. stuart: you save the best for last. you have got to get the best right up front. that's television. the breaking news on lockheed martin? ashley: they are about to announce a deal that the defense department and lockheed martin struck a deal to buy 90x-35 jets. the price is $7 million less

than the last time the defense department ordered these planes. that shaves off $700 million off the cost. president trump criticized the enormous cost of these jets. stuart: i guess you could call that a win for taxpayers. liz: one of the first things he said when he came into office was pair force one cities too -- is air force one is too expensive. stuart: i may not know much about sports. but eli manning is the only quarterback to beat tom brady in the super bowl and he did it twice. liz: is that a true thing that you don't know much about sports? stuart: the democrats are babbling and discouraged so says

ed roarnlings, former reagan and bush aide. >> there are so many things wrong with this order. >> it is reckless. it is reckless and rash. >> it is unconstitutional. >> mean spirited, pun american.

>> this congress needed to stand on its own. we are a separate branch of government. and i don't want to see the senate of the united states bow down to an executive demand like this. >> given that record, i have very serious doubts that judge neil gorsuch is up to the job. >> for more than a decade he has twisted himself into a pretzel to make sure the world's favor giant companies over individuals and americans.

>> this was a seat stolen from the former president trump. >> the president said in june he saw a list who met the standard for the far right. he made that commitment which he honored in the worst possible way. stuart: i think you heard enough of that. i don't think democrats got used to losing the election. they are the obstructionist party, that's my opinion. i think my next guest agrees with me. look at the headline he wrote in "the washington post." the democrats are babbling and discouraged. that is in the "washington post." >> good for the "post." ed rogers is a former aide to reagan and george bush. >> "the washington post" gets a

bum wrap. they let me have my way and say what i want to say. i'll teach you about mine. substitute * if your headline is that democrats are back and discouraged, they don't seem very discouraged to me. they seem to be strident and in many ways getting their message across. >> they are floundering. schumer had an infamous breakdown. they don't have an affirmative agenda. trump found the edge, he's rounding around them. he bobilitys the ball he once in a while. they haven't found a cabinet officer they can carve out of the herd and bring him down. that gets worse in politics and it's not finished getting worse for the democrats yet.

stuart: i don't think that the country at large sees it that way because they are being fed a line by the media that trump introduced chaos and confusion and everything is going wrong and the noble democrats are standing up for principle and america. there is no question the trump white house president himself create some of his own distractions. but none of that so far has helped the democrats get their act together. the democrats are about to have an tun flattering contest for the chair of the democraticommi. there is nothing about that will will be reassuring to america. stuart: do you think eat ellison, radical guy from minnesota, he's in line to be the chair of the democrat committee. >> i hope so. all good republicans need to be for him.

it's between him and the former secretary of labor. both of them are true leftists. there is no pretext about them becoming free market. they are becoming anti-white, anti-capitalist party. it will cite tailize in this dnc race. stuart: keep those headlines coming in "the washington post." >> the "post" is pair. stuart: we talk about trump each and every day. corporate america is also talking about him in their conference calls. when you have earnings reports the ceo has a conference call. trump is mentioned all the time. liz: according to the "wall street journal" and s & p officials. the majority of the type they are optimistic and positive about what trump is doing. they are saying be patient.

a third of them talk about tax reform. you can see the mentions and what they were talking about with their investors. so you and i were just talking about growth. we were talking about europe. europe is at glacial growth. they are talking about growth. somebody said 5% growth you could see this year comparable from last year. stuart: money and politics. that's jibing very nicely. the dow is up 180 points. next we'll head to houston. shaicial casone is there with eli manning. let's see if i can talk football with him. probably not.

stuart: we have a special guest for you. eli manning. i believe he was a new york jets

quarterback. cheryl, this all yours. reporter: not only has eli manning beaten tom brady twice in the super bowl. but he's here with the falcons cheerleaders. you gave some advice to the quarterback of that team. he said he called you. >> matt has been a long-time friend and good buddy of mine. i keep up with him throughout the season and we text and talk. we send text mess ands wishing him well. i know he will do great. reporter: we talked with the quarterback of the cowboys. when i asked about that beef with the cowboys, he went, how do you get into the head of a quarterback like that. >> i don't think that was any of my dog. the defense did a great job.

and we made enough plays to win the game. when he was in college and followed his career at mississippi state. he played great football and has a great future ahead of him. reporter: stuart varney is curious if you think the jets will ever win the super bowl. >> i'm not too concerned about the jets, i'm trying to get the giants back into another super bowl. reporter: you are telling me you want to throw the ball to eli. >> i would love to throw the ball to eli, but i would also like to talk about the wall street man of the year award. reporter: big round of applause for eli manning. let's do this toss. eli manning. walter payton man of the year.

>> i appreciate all the great work so many guys are doing around the league. reporter: maybe this guy will win a big award. stuart: thanks very much. check that big board. we are not quite as high as we were. but we are still up 1264 points. that's still a rally. listen to that music. that's the beatles. "i don't care too much for money." that's not true. why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain,

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stuart: more developments on the iran sanctions. ashley: 13 individual, 12 companies with regard to iran usg the ballistic missile test. these are headlines from the trump administration saying these are just initial steps in response to iranian provocative behavior. he says we'll continue to respond to iran's behavior at an appropriate level. he goes on to say this is

critical in combating iran's activities outside the scope of the nuclear deal. the trump administration put iran on notice there would be a response to the ballistic missile testing and this is it. stuart: good stuff. look at this. resistance from the left. the department store nordstrom drops ivanka trump's clothing brand. lady gaga, she is the halftime show at the super bowl. is she going to go political. bruce springsteen says he an embarrassed american because of president trump. joining us, the campaign spokesperson for president trump. nordstrom drops ivanka trump's clothing line.

>> i think it's a blessing in disguise. now ivanka can go do her job in washington. and help her father do this job for the country. a blessing in disguise. stuart: i am shocked that a boycott like this -- why would nordstrom decide to do this? >> their stock is down so they are paying the price for it. stuart: lady gaga at the super bowl, i hope she doesn't get political. >> there is no way that's what anyone wants to see. if you take other "a" off gaga, it's just gag. tbriewls springsteen stands up in front of a foreign crowd and says i'm an embarrassed american. this is all part of the left's demonization of our president.

look at that. >> look at the people who bought tickets. people who bought tickets and support trump need that? he probably flew there on a private plane and affords himself all the benefits of the united states. stuart: all that celebrity support for hillary clinton, she lost. all the celebrity support against donald trump, i think is being overwhelmed. >> laura ingraham wrote a book, "just shut up and sing." stuart: just day alone we had a long string of actions from president obama. it runs the gamut. you have name it and he's taking action. if that action so much that it's overwhelming the left, they kinds of shut out of the picture? >> do we care?

stuart: we do. base think the country is looking at what's going on and is hearing the left more than they are hearing president trump. >> this is what the left needs. he promised the people that he was going to put america first. and day by day, minute by minute, we know donald trump doesn't really sleep. e sleeps about 4 hours a night. he's on 24/7 and he's getting it done. he's a politician who kept his promise. have we ever seen one before? i don't think so. stuart: he's obviously dynamic. i got a tweet out of him at 10:55 eastern time. the next morning he was tweeting again by 6:00. does he ever change course? he says i'm going to do this and he proposes to do it. defense ever say i was going to

say i would do this and now i'm not. >> he takes the advice of smart people. he said i believe in waterboarding but he got the advice of smart people, he said i'll defer to them. it empowers other people which is brilliant. stuart: would you like to see him quit the twitter account as he did in the middle of his campaign briefly? >> no way. i think it's part of his charm. even paul ryan says it's growing on him. paul ryan was not always the biggest advocate. stuart: we haven't seen you for a long time. but i'm sure we'll see you veal soon. the jobs report is thehead line number. 227,000 jobs created in the month of january. come on in, please. i am wanting to look forward. we are going to reform and

replace obamacare. i think that will be good news for the creation of full-time jobs because all this part-time stuff was the creation of obamacare. get rid of that and we'll get full-time jobs. >> small business, corporate leaders and even the federal reserve pointed to. the federal reserve's report, you had board members pointing to obamacare as the source of suppression of full-time jobs. sow i think the president has listened to this. he's going to push congress for immediate reforms on aca. those that they have identified as being a suppressor will result in full-time meaningful jobs. stuart: we dug into the numbers and found an increase in mining bs, an increase in manufacturing jobs, an increase in construction jobs. all of them relatively well paid

jobs. do you have think that has something to do with the outlook for growth in the economy? >> sure. what you are seeing is optimism reflected at the close of the election, it was very clear you have a new chief executive coming in as a vision of opportunity putting people to work in full-time meaningful jobs. those sectors have been frowned on or cite sides, especially in the mining field and other areas in terms of energy. you will see the optimism captured by leadership and the president translating american aspiration into a structure of policy and a strategy that kreef as it full-time jobs. stuart: i would like to see us creating 300,000, 400,000 full-time jobs a month.

i'm talking about 6 to 9 months' time. >> i think we'll. if you look at president reagan. when he put his cabinet and team and policy together, it was a consistency and coherence people understood. when you look back and not question the motive, you had a dispadisparate sense of purpose. this:white house will be find amount alley different. what he's already done is he laid out, these are the personnel i want, these are the tactics and this is how i'll go about it in terms of policy. dodd-frank, economic growth and re-duesing regulation. stuart: you just reminded me of something. in 21 minutes' time he will have been the president for two weeks. 14 days.

it seems like 14 months. it does seem much longer than 14 days. ford conway, thank you very much. now, snapchat now known as snap inc. they are going to go public. sell shares to you and me. tell me more. ashley: we have been talking about this. the founders who were frat brothers at stanford rejected and $3 billion offer from for this company from facebook. everyone said they are nuts. each of those founders will be worth more than $3 billion each which is not bad at all, and they will have controlling shares. they will not have to -- they will have the company in their rein even after the ipo. stuart: a company worth $25

billion only has,000 employees. little job creation. ashley: wall street is saying, is this the next twitter? so watch out. stuart: modern technology companies are extremely valuable and they don't employ many people. i always like to economic microsoft. because i own some of the stock. the michigan technology sr. to downtown detroit in early 2018. repeating the breaking news. president trump getting tough on iran after it latest ballistic missile test. new sanctions announced today. military action not off the table. more varney in a minute. [♪]

reporter: the dow is up 162 points. we have optimism on wall street. we are up about the 20,000 mark. you have a couple stories trending including the jobs report. also the rollback of dodd-frank on the table, and that's helping

the financials along. what's driving the dow? visa hitting a record high after strong results. the financials along with the dodd frank rollback idea and likely is helping the financials to gain once again that have been gaining since president trump was elected in november. the retailers hudson bay jumped. fox business continues. just like the people who own them, every business is different. but every one of those businesses will need legal help as they age and grow. whether it be help starting your business, vendor contracts or employment agreements. legalzoom's network of attorneys can help you every step of the way so you can focus on what you do. we'll handle the legal stuff that comes up along the way.

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stuart: it's technical but it's very important. president trump will roll back financial regular whraitions the stroke of a pen. the dodd-frank regulatory bank reform. he's going to withdraw it. roll it back. it control what investment advisors can say to you. rollback. it's clearly a live-action presidency. fred barnes is with us from "the weekly standard." what do you say, that dodd-frank is going away. it will be dismantled. that's huge news for our economy and every single person in this country. big deal. >> i have to say, i'm a little surprised. i didn't know it would be this sweeping.

some of dodd-frank will have to be removed by congress. but this cut out the heart of it. what will happen is we'll get more bank lending and consumer choice. we won't have a shrinking number of financial advisors to run our retirement accounts. regulations often have an effect of reducing whatever the product is that you are regulating. dodd-frank was really not necessary. back in 2008 the problem was not the lack of regulation. it was the lack of astute regulators. stuart: the left is going to go crazy on this. i have not seen anything yet from senator elizabeth warren. i'm sure she'll be in there pounding hard. this is a giveaway to wall street. they stole your money and stole

your house and now we are giving them more money. >> i think she might have a little bit of success. these reforms, you wouldn't call them populist reforms. i think they are needed. i think they will help the economy. i think they will help small investors and they will help small banks. the regulatory burdens have become so great under dodd-frank in particular. so there are many good things for the average americans. but that's not the way elizabeth warren will see it. stuart: president trump has signed new sanctions on iran. sanctioning individual and sanctioning companies as well. this is a new hard-line approach. >> it is. it sends a message to the iranians that all the stuff that the president obama let you get

away with, i'm not going to let you do it. he said in his tweet this morning, president obama was too nice to the iranians. not me. stuart: it's a live-action presidency. is it all these confusion people or is it steamrolling? >> it's a little of both. it's producing more than democrats who want to oppose almost everything trump is doing it's hard for them because it's coming so fast. this is only the end of the second week of the trump presidency. it seems a lot longer. i didn't think this overhaul of dodd-frank would come so soon but here it is. stuart: there are 12 minute to go until president trump has been in office for two weeks. >> it's breathtaking. it really is.

change the way we do the news. stuart: we are live action news. you wait for if the news to happen and you comment on it and go forward with it. >> ihappens first thing in the morning when trump tweets. we didn't have that before. he was very tough on iran this morning in his tweet than his national security advisor had been yesterday. stuart: listen to this. in his last year in office, president obama showered billions of dollars on the flaits. number one -- on the united nations. number one how much, and who got the money. ashley: a ton of money. $9.2 billion of taxpayers' money showered on the united nations.

it goes to an array of organizations. it includes $360 million for a palestinian refugee program that is widely criticized for being strongly anti-israel, even help terrorists attack israel. they got $360 million. as he was literally getting on the helicopter flying out the capital when he turned over the keys to president trump. there was a $20 million donation to the principle rsh authority. the trump administration got wind of it and it was immediately frozen. stuart: look at that market go nicely higher. 167 points up. why is it up so much? i am here to tell you it has a lot to do with president trump and what he's doing with the

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stuart: tax reform, key to the markets performance. gary cohen appeared with maria this morning. listen to what he had to say about tax cuts. >> the objective is lower corporate taxes as a starting point, and then dealing with personal income taxes, especially for the lower earners. we are not spending a lot of time with the high earners. then you have to balance the businesses in the middle. we are spend an enormous amount of time trying to drive down corporate taxes. every ceo we met with, their second most important topic is the tax rate. making america con pettive in the tax rate. stuart: a nugget that came out of that you will get obamacare

reform first, tax cuts second. ashley: i think people would like to see more money in their pocketbook. the middle class is shrinking and taxes have gone up. donald trump ran a strong campaign on bringing taxes down. i understand the corporate tax rate, small business, especially. but i would like to have gone the other way around. let's get the individual kaks rates cut. that's a huge boost to the economy, then corporate taxes, then healthcare. stuart: that's what the market wants. the tax cut now, please. ashley: he has taken care of the regulations. that's part of it. for every one in, two out. inch. stuart: we still have a solid market going on this friday morning. we are up 162 points. that puts us way back above the 20,000 level.

we got bank stocks going up. we have financial stock cans going up. it's a 163 point gain. even though we know it's obamacare reform first and tax reform second. maybe the market would be. you more if it were the other way around. we have a special varney viewer, a picture we want to share with you in just a moment.

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stuart: look at this. [laughter] stuart: how popular is varney & company. the cat's name is angel and she like it is dow bug. ashley: 3 and 8. perfect. [laughter] stuart: as long as i get a ratings point,i really don't mind. we contacted jim in new york. we said, look, the picture is going to be on tv.

you better watch, when chuck schumer appears on the screen the cat is trained to hiss. my time is up, hey, niel, can you beat that? [laughter] neil: so your spectacular ratings are boosted by animals? stuart: if that's what it takes, yes. [laughter] neil: i needed confirmation of that. boy, all of my thoughts that i am not going the say i will leave it at that as well. we have a lot going on. following up on the growing sentiment that the tax cut and what to read of ceo pow wow here. we will be talking, steven, black stone founder. all of these gentlemen cited by the president just about an hour ago.