kevin: tonight "wall street week". maria: dagen, kevin, brian. wall street tonight 8:00 p.m. eastern and i will see you on sunday morning, fox news channel and we will see dagen and bulls and bears. charles payne in for stuart. charles: thank you, maria. stuart is off today. we have a lot of big stories beginning with president trump. he continues to unwind obamacare now going after subsidies and health insurers and billions of dollars that help pay for coverage for the sick and the poor, the left as you can imagine, is deceiving. the president expected to say that iran is not cooperating. he's going leave it to congress whether to uphold the deal or not. corporate news, scandal of amazon ahead of studio division, the man in charge of amazon original content suspended over allegations he made, lewd comments and advances toward a

producer. tmz reporting that wine seen's contract allowed for him to get sued for sexual harassment without being fired as long as he paid the victims. jack-packed three hours for you. varney & company is about to begin. ♪ ♪ charles: first to the california wild fires, ashley, what's the latest? ashley: it's surreal, really. we have 31 confirmed deaths. we have 21 wild fires burning at this hour covering an area of 300 square miles. most of these fires less than 10% contained. the good news is there are going to be lighter winds today. the bad news is they are going to pick right up tomorrow. tough weekend. we talk about wineries, of course, a human story. the wineries, five destroyed. nine badly damaged but it could be a lot worse than that, the

problem, charles, you can't get to a lot of the areas because they are covered by fire and the authorities are not letting anyone in. but this is a story that goes on and on and again when gusts up to 50 miles an hour expected this weekend. flames will continue to move. charles: a tragedy, thanks, ashley. the company has told multiple news agencies that it suspended roy price after allegations of sexual harassment. lance, could this hurt the company particularly with the original content push? >> i don't think so. i mean, obviously they moved swiftly here and took action. i don't know the details of the case. price is somebody who comes from entertainment industry, disney am nation, i think, before joining amazon, moved up through amazon ranks to take over this part of it. at one point he gave interview where he talked about the different cultures between hollywood and amazon and i think that that's really what you have here, is that, you know, this

whole big story with weinstein seems to be about the hollywood culture. maybe beyond that, but i don't think and i certainly hope it's a pervasive culture at amazon. he flew in coach for a big trip, you know, business trip with amazon which would have not been the case when he was at hollywood studios. charles: when it comes to streaming stuff, it is becoming more hollywood. every day you read about major names, companies bringing major hollywood players and in this case according to the hollywood reporter, perhaps the man in high castle the woman who produces is at this center. they are bringing serious hollywood talent and with that a certain culture, isn't it? >> all of the tech companies are doing it. every single one of them, youtube, netflix, am, everyone that wants to produce original content is tapping into the hollywood pipeline because these

are the people that know how to do it. i would hope that we can't say that all people from hollywood are acting this way or like this, but this is definitely set the alarm and people are going to be looking and saying, you know, how are you conducting yourself. our goal here to produce great streaming content and i think that's what amazon will continue to focus on. they are certainly doing well with it. i don't see them at all in any danger of being really harmed in a big way with this. charles: although we should note yesterday rose mcallen said on twitter that amazon canceled the script she was developing after she told the head of the studio about the weinstein rape allegations. >> yeah, certainly -- this guy -- right. if this guy is, in fact, guilty, this seems to be the point where the problem lies. charles: let's talk technology for a moment. i have to ask you about the virtual reality head set. i love the story, some kid

starts tankerring and a decade later it reemerges. is it going to be a game-changer? a decade ago it fell flat? >> more than that, actually, going back into the 90's, first time virtual reality tried to hit. oculus is a 200-dollar head set not attached to computer, all in one solution. that's a big deal. as i wrote this week, 199, the magical price point set by steve jobs almost a decade ago and you've got out of the box operation. that's the kind of thing that excites consumers because when they look at virtual reality right now, they are like, i need computer, i need to hook up, i need to put things in my wall. never mind, i'm not interested. many of them haven't had the experience. by the way f you've had a good virtual reality experience, it is something else. transformative experience because you never forget it and think, i want to go back and do it again.

charles: we will see. a lot of hype. president trump to disavow the iran nuke deal but it's going to stop short for now of unraveling it or rewriting it. joining to discuss, former vice chief of staff of the u.s. air force, general, your reaction on president trump's -- the advance move that we think he's going to announce today? >> charles, i strongly support this move. it is the right thing to do and he's going to get a lot of pushback from europeans and others but the fact is the europeans use it as cash cow. it has nothing to do with the the deterrent capability of stopping iran from getting nuclear weapons. charles: the idea, you mentioned europe, us starting to unravel the deal that is we put together with closest allies, unilaterally, perhaps depending on what congress does, are there deeper implications for that? >> well, there are some but the fact is this congress is not going to ratify and continue this particular program because they know it's a loser.

look at senator corker, he can't even run again for reelection because he's the one that led the charge with the republicans to support obama on this very flawed agreement. charles: so the agreement doesn't -- either looks different or completely is decertified, what happens next, what does iran do because they're saying that this actually will allow them to take -- to perhaps even speed up nuclear development program? >> let them try. the fact is we are going to finally have to face up to this and if they start doing that, we will have to take appropriate action with allies in the region. there are a lot of allies in the region that fear what iran is doing so i feel comfortable that we can have regime change over there with the allies assisting us in a covert manner. we do not have to have open warfare over there. charles: i know there were a few

opportunities during president obama's time in office where we probably could have pushed for that organically within iran and might have happened. general, thank you very much, really appreciate it. >> thanks, charles pflt charles: quick look at dow futures, bank of america, profits boosted by higher interest rates, wells fargo, they missed for the fourth straight quarter and pnc profits up as they had a lot of growth. back to harvey weinstein. liz: he could possibly keep his job. it shows how the shop was being run. the contract apparently said, all he has to do was pay the settlements to these women who alleged sexual harassment and he wouldn't have to be let go. it said no further action can be taken and report is that at the time he signed his contract, the company was aware of multiple allegations against harvey weinstein for sexual harassment,

you know, and even if he's accused of fraud, he still has a right to mediation before he's let go by weinstein company. the thing, charles, now the word is the company has a lot of debt on the balance sheet, a report of 400 million-dollar credit facility with the banks, should it be broken up is private equity crowd circling now? charles: i want to bring in larry o'connell, media contributing editor, what's your reaction to this news? >> that's a heck of a contract and it sure seems premeditated doesn't it for weinstein company to put that into the language of their agreement. as if they knew it was coming, they knew it was happening and that certainly does expose them not just weinstein. i'm looking at the story, i'm looking how nbc news covered it, they had in their pockets with reporter willing that were willing to go on camera and put

names on the record, yes, this happened to me and they spiked the story saying it didn't rise to their standards and, yet, how many stories did they publish about donald trump, president of the united states solely based on anonymous sources, people who won't put names on the record. seems like they have a different set of standards depending on who they're reporting on. charles: in fact, one thing we are learning is that these stories have been pushed aside, you know, covered up, perhaps for more than a decade at some -- most people will consider prestigious media outlets underscoring the fact that maybe so-called journalist was lost a long time ago. >> nbc news is owned by nbc universal. nbc universal is entertainment company and produce television programs. they had to deal with harvey weinstein. fox news, fox business is occupied by news corp. cnn is owned by time warner. nbc owned by disney.

charles: new york times -- it took them a long time to quote, unquote get the guts to put this out there. >> maybe that was a new york thing as lauren michaels would say. i'm a radio host in washington, d.c. and i opened this up to my callers yesterday specifically asking women, you know, right now i think the story is perceived to be a hollywood thing. i asked women, you know, 20 years now after the clarence thomas situation and bill clinton in the white house s this still pervasive. you know, the stories that you hear, they're all very similar. women called in and said, yeah, this is still happening where they feel pressured to start a relationship with someone? power, has influence over them. they feel like if they don't, they can't get advancement in their careers and sometimes, you know, that relationship is -- rises to the level of sexual assault and it just goes

unreported because these women feel like they are in real danger not just career wise but in terms, you know, actual well-being. charles: larry, thank you very much, good seeing you. live look at the white house. president trump delivering a speech at the value's voter summit. in fact, the very first sitting president to speak at the event. we will bring it to you live when it happens. big guest later on this hour, congressman kevin brady, tax writing committee, does he still think tax reform will get done by the end of this year, we will ask him at 9:45. president trump taking heat from the left after announcing end to subsidies, he's, quote, gambling with american lives. more varney after this

charles: facebook just announced it's going to let users order food for pickup or delivery directly from its website and mobile app. that has that stock up and

unfortunately for grub hub is getting hit for premarket on the news. back to health reform. president trump ends subsidies for health insurers and dems are not happy about it, saying, quote, donald trump is gambling with american lives u trump and republicans in congress will bear sole responsibility for the devastation they inflict on hard-working families. come on in congresswoman virginia fox, republican from north carolina. how fair is the criticism? >> totally unfair. it's ridiculous and what republicans want to do is have a true marketplace for the purchase of health insurance. you know, what the president did was help restore the constitution. president obama violated the constitution by spending money that the congress had not appropriated. former speaker boehner filed a lawsuit against that. he was told it was ridiculous, but the supreme court agreed -- charles: so with all drew

respect, the supreme court litigated the case. i think your problem for the party is litigating this in a court of public opinion where obamacare has become somewhat popular, trump takes sledge hammer to aca, how do you explain to the american people that, hey, obamacare, you know is a buggies asker, we are trying to fix it? >> because that's what we are going to do. we are going to bring back the market in health insurance and health care. you know, charles, very often this gets confused, health insurance gets conflated with health care. we are trying to fix the marketplace for insurance that. will fix the marketplace for health care. so i think we are absolutely on the right track. it's up to everyone of us to go home and explain this to the american people, show them why this is better. living with the constitution is always better, charles, than tinkering with the constitution

and we know that. unfortunately the previous administration would pick and choose what it liked about the laws of this nation and what it liked about the constitution. that's not the way republicans operate. charles: we know that the high premiums and deductibles helped propel president trump into office. thank you very much for coming in the office this morning, we appreciate it. >> thank you, charles. we will get the message out. charles: okay. >> thank you. charles: more trouble for equifax, irs suspending the 7 million-dollar contract with the company after a malware was found in equifax's website, we've got more details on that coming right up

charles: the left continue to honor hispan heritage, tracee carrasco is here with a small story, tracee. tracee: 4 million hispanic owned businesses in the united states bringing in billions of dollars every year according to u.s. hispanic chamber of commerce and for all small business owners it's tough out there and we spoke with one business hispanic owners, son of immigrants, outlined some of the challenges, taxes, health care, immigration and here is what he had to say.

charles: okay. >> my father came with a dream as most hispanic people do and he just worked very hard. >> alex durán, son of colombian immigrants is living the american dream, entrepreneur for nearly 30 years working closely with his family, previously owning an import-export business, now a day care and cubano restaurant in new jersey with plans of another restaurant in 2018. >> i know it's difficult at times, but i weigh that over going corporate. >> the restaurant now in sixth year is thriving. it employs more than 100 people and has brought in more than $7 million in gross sales so far this year. but being a successful small business owner is not without challenges, high taxes is one of them. >> simplify tax code, i just think that easy make it for us and the less we can take out of our pocket, the more we can

grow. tracee: another challenge is health care. it's pricey but necessary and wants congress to come up with a solution that works. >> i like to see something that would fit, meaning, i agree that the employees need insurance. listen, if i have a kitchen, cook, he's not feeling well, he doesn't have health insurance, then, you know, he's my engine. what am i going to do if he gets sick? tracee: more than 90% of employees are em -- immigrants and disagrees with the president's stance on immigration. >> they work and send money to country and pay tacks. what he is doing i think is awful. tracee: durán is hopeful that a business-minded president like trump will support him. he says success will be up to him. >> i can't control what the government does, i can only control what we do here and we try to grow our business. tracee: in west newark, new

jersey, tracee carrasco. >> he made a lot of promises to small business owners to protect them and help them out, the business owners, they really hope that he keeps that, that congress will help. charles: we still small business optimism hanging in there because they have faith that it's a probusiness president. great piece, tracee. market shares of hostess, you know, the, -- twinkie folks. a lot of anxiety as we head to earning season. oil $52. varney & company will be right back. when you're close to the people you love,

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charles: we have about 45 seconds before the opening bell. let me sit -- set you up here. we have entered earning season. here is the interesting thing, last time we had earning season, it was amazing, something peculiar happened, stocks went down, first time since 2011, knee-jerk reaction to downside. that has added more pressure and mystery onto what will happen in

earning season. both stocks were down early this morning 3 banks have reported, mixed signals. so it's going to be real interesting start to the day. real interesting to start to earning season. a lot of anxiety, we couldn't hold hold onto rally, you hear the opening bell is ringing. right now more green on the screen. in the cases where the market would be slightly higher this morning and really interesting oh -- to see exactly if we can pick up momentum that was lost in the close yesterday. you're looking at s&p 500 up slightly as well, nasdaq up 22% for the year. it's been a remarkable year for the nasdaq, all-time high, s&p, nasdaq not far behind right now. as i mentioned big banks reporting profits, bank of america, wells fargo and pnc, mixed results. wells fargo missing yet again for the fourth consecutive quarter. amazon suspends studio executive

over sexual harassment allegations, wall street has jump intoed the high momentum tech names. let's take a look at dow for the calendar year. it's up 15% for the year. having a remarkable year. joining us to discuss ashley webster, liz mcdonald and jeff seca and dan. he got a bullish on me. [laughter] >> a little. >> all right. charles: you know, someone who looks tat data, looks at the charts and say, this market is wildly overvalued but keeps going on. >> it's not that it's overvalued, engineered by the essential banks globally, the japanese, the bank of japan, the ecb and our u.s. -- charles: now they are talking about running -- >> they are not going to raise -- this is not going to happen. it's draw-boning, the fed does it, reducing the balance sheet.

most of the pay is 7 or 9 year. it's not an event. the issue here and i watch correlations between currencies, gold market, equity market, the bond market, the issue is there's no inflation. they are calling it no inflation but it's called deflation and this is their last hail mary, you watch the market go up every time it takes a bit. there's a bid that comes in every time. 5:00 and 7:00 in the morning. charles: then why fight it? >> it's not a matter of fighting -- i'm notifying it, i'm just saying when it ends, it'll end very bad. take the ride for now like they did -- liz: what triggers it a north korea event? what would trigger it? >> the numbers came out this morning where interest rates are dropping because of deflationary number. what's going to trigger is the fact that money is not flowing and people are going to realize that the company earnings are going to plateau, some of the banks with earnings anownlsed that they'll have more reserve

-- charles: yeah. >> unusual where we are. we are getting the signs of it but the market will see it later and when it sees it, it'll really all over. charles: the problem i have, jeff, when it end, it'll being with usually, what about the seven years before, why every time the market goes up, it's the end. i'm going to be finding stocks that are oversold but the viewer who is in this market right now and maybe anxious about it, what would be the signal to get out? >> here is the problem i have. this market is way, way too come -- come -- complasant. right now you have the average investor. almost fully invested, when you're all in, you have nothing to do to borrow to buy or sell, that's the problem i have with

complasent market. if the tax cuts do not get passed, the market has excuse and that excuse will send this market tumbling. liz: in the 1987 crash, didn't the dow retrace after 15 months? >> very quickly. of course, since march of 2009 the market has been virtually unstoppable. let's talk about the big banks since dan mentioned them. jeff, with everything going on, you keep focusing on tax reform. we heard jamie dimon how big of a boost it would be to banks but to the economy. i don't know that anybody is modeling for them to happen, certainly not this year and if it happens next year, wouldn't it be gravy on top of the fact that wheels of commerce are beginning to move in this country? >> they r but they have to get tax cuts this year or i believe the market will be disappointed. the banks had been benefited for the anticipation of tax cuts and have also benefited from

regulatory reform, what i find optimistic about what i'm seeing with banks now is they are beginning to loan to small businesses, but if they don't continue this -- this momentum of loaning to small businesses, they are drastically overvalued. charles: my problem with the banks, dan, they don't loan enough on middle america, they are relying on trading, the market is -- >> the banks are nervous. they are holding sovereign debt. united states is not what i'm worried about. i'm worried about the debt all over the world that's gets shoved into the banks. that's the biggest cue. you asked me what will bring the government now, when you see government start default on debt, default on debt, that'll be the problem. charles: japan, china or america, big debtor nation.

>> a lot of money lost, like puerto rico bonds, that's a very big issue that that money is just evaporated if the bonds go bust. you have the european union with some of those countries which their debt is out of line. you have the japan debt which is out of line. our debt is not so much out of line as far as safety but this could be the biggest bubble, not in a bubble sense of -- of debt not paying, but ze faulting is the issue. charles: first domino, perhaps. >> yes. charles: i'm going to ask about money coming out of the bond market. i'm seeing rotation. we had big news on facebook. they are going to allow users to order food to pick up or delivery. [laughter] charles: facebook getting into the food-delivery business. there's a guard in the building, he told me the other day that he's -- >> what happened to people cooking at home? what happened -- all delivery?

>> quite an unusual step, but, again, the company is trying to do other things and grow. they are trying to do with amazon. they are competing with each other in this area. so i don't know where they are going to go with it. i don't know if it's going to work but that's an idea to get delivery to your home because, again, two household working parents, somebody has to bring the food in. >> all of the names that let the market up, let the nasdaq up 22%, in the last two weeks, they are getting more upgrades, google is getting upgrades, amazon is getting upgrades, netflix are getting upgrades, aren't the stocks that worry someone like you? wall street is saying it's going to go higher. >> not only does it worry with me, but the majority of investors plowing into 5 stocks, 50% of indices, to me that concerns me greatly. the fact is that's coming out negative like what we have seen with am are essentially being

ignored. charles: when you're ignoring bad news that's a problem. breaking news on harvey weinstein scandal. you have some news on the weinstein company and goldman sachs. >> the situation sun raveling right now. goldman sachs is putting up 1 million-dollar, now valued 1 million for sales. goldman sachs helped finance, bring together a billion dollars in finance to go create the wine seen company 12 years ago in 2005. this is more than two dozen women came forward with rape, assault and harassment claims against harvey weinstein. he does own along with his brother 42% stake in the company. it has a big debt load and 400 million-dollar credit facility with the banks, so will it break itself up? we could be in the threshold of seeing the weinstein company break up as people peel off and away from wine seen projects, removing the weinstein names from production and movie

theaters. >> what you could anticipate is some sort of bankruptcy filed. right now avalanche of claims against the wine seen companies because now that people are coming forward more and more people will come forward and unsustainable defense against the wine seen companies. charles: are you concerned about any of the larger entities, goldman sachs, public-traded companies that did businesses with them distributors or otherwise? >> what you're beginning to see how implicit were these companies in any cover-up that was done of the wine seen companies. it's obvious that a lot of people knew about it. charles: apparently a two-decade very open secret. liz: more breaking news. it is shutting down the wine seen books imprint. so it looks like it's folding the tent across the board here. charles: all right, guys, thank you very much. let's take a quick look at the big board here. dow up slightly up 28 points,

again, we've had some big gains. the market is consolidating the gains and there's always the typical anxiety you go into earnings, general motor shares, by the way, rough-riding lately but stable today. nevertheless take a look at trucker jh hunt, they reported weaker profits sending the stock down. he or-- hostess brands, as ceo s to retire. big news, maine senator susan collins will stay in a senate speaking in rockport, maine. she will remain a moderate republican in the swing state in the senate, not good news for president trump. up next congressman kevin brady, tax writing committee, the clock we know is running, we have been told on this it better happen or a lot of things will happen with your money. can it happen, tax reform is

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you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. charles: i want to go to equifax because the irs is suspending the 7 million-dollar contract after malware was found on their website. liz: people going to equifax to protect i was, up load new adbe update to read pdf files, malware was download today your own computer and all sorts of internet pages would open up accordion-style for advertising.

the irs is canceling more than 7 million-dollar no-bid contract. so, by the way, the irs had its own hack last year. 700,000 taxpayer accounts were hacked into at the irs, this is -- ashley: blind leading the blind. charles: irs should have delayed given equifax's contract in the first place, they gave it to them two weeks ago. thank you. one-time tax holiday for corporations to bring money from overseas, joining us congressman kevin brady, republican from texas and chairman of the tax writing committee. congressman brady, i have done my number crunching on this and i do not hear you guys selling the right way, 2004, 2005, 3.4%, never did it again, employment went up millions, instead the democrats keep saying that the bush tax cuts which president trump would like to repeat did not work.

>> yeah, charles, you're exactly right. look, they say the same thing so often, tax cuts for the wealthy, it won't help the economy. i don't think democrats can stop saying it. if we allow our companies when they compete around the world to bring earnings back to be reinvested in america, new jobs, new research, new manufacturing and innovation, not only will jobs grow, paychecks will grow as well. president trump, the house and senate tax writers, we want both to bring the current dollars back to america, but going forward, we are proposing zero tax rate for companies when you compete and win and bring those dollars back to our communities. charles: i love it, i love it. when president trump talks about advance that is the rest of the world, this is one. we are the only ones that punish americans for making money outside of america because the rest love our products, and i applaud you for that. we have to talk about the rest

of the tax situation. i hear confidence every time someone steps up to the mic and everyone is still leery, few people think they are going to happen because you have things like state and local tax situation, serious sticking points particularly in new york and new jersey, how are you going to resolve that? >> i think we can and here is why. along with lawmakers of every state want to make sure their families and businesses are better off after tax reform than before regardless of where you live. we recognize mayors and governors have put the screws to taxpayers in some of these high-taxed states, we want to make sure we lower those taxes, you keep more of what you earn regardless of where you live. we are working with lawmakers from the high-tax states to make sure as we set the brackets and those income levels that we are providing that tax relief and we are also looking at, you know, some of the key issues like property taxes which is not based on your ability to pay, it's just very painful. and so we are working with

lawmakers across the country on finding a good solution. i'm confident that we will. charles: let's talk about timeline, the senate, i suppose will get something with regard to the budget. that should expediate. >> absolutely. the senate passes it and then we work out the differences between the house and senate, but right now it's very clear if you are a no-vote on the budget, you are voting to kill tax reform. there's just no way around it. the house has moved it. i'm confidence the senate will as well. that creates a runway to land tax reform. after the budget, charles, sign, sealed and delivered the ways and means committee and will take action immediately.

charles: that means negotiations have to be going on behind the scene because we want that to be the jump-ballpoint to expedite some of this. you mentioned something, feel like a shot on colleagues, i don't know if they care so much about who criticizes them. we sort of know who has been against some of the things on president trump's economic agenda. how do you sway them -- what kind of compromise will it take. i don't think you can shame them. >> well, here is what i think. i don't know of any senator who can defend the current tax code, the complexity, the cost, how it punishes hard-working people. the budget is key to us for the first time in generation changing, simplifying, making it fair and more progrowth and so i'm actually optimistic that our senate colleagues will come

together, find a way to pass that budget and work together with us because once that's done, you know, this all accelerates in a mayor way. we would like to make sure that when families enter the holidays for christmas and otherwise that they have tax reform to unwrap that day. charles: before i let you go, it's going to be good weather over the weekend in new york which is pretty good, the yankees are going to still be playing, unfortunately there's the astros won't, you want me to pick you up a hat or something like that? >> yeah, charles, there's a reason i'm wearing my astros colors today. you want to get in on the houston strong love just jump on in and we can go to the world series together. charles: i'm not tired of winning as yankees fan but i will take you up maybe next season. thanks a lot, congressman. >> thank you. charles: quick look, remember president trump to end obamacare subsidies for the health insurers, all of them are down right now. we have some more, we have two

boards on the health insurers for you. also i want to take a look at hospital stocks, all the names being impacted by the decisions here in the last 24 hours and finally i want you to take a look at drug makers because, again, president trump has begun to use the power of the pen and what he can do because let's face it congress has not done anything. before we go, let's check again on the big board here. getting a little bit of moment -- momentum, cautious optimism, one historic run. target teaming up with google to offer voice-activated shopping, you want to buy something, ask your google assistant, sounds like they are taking a big shot at amazon. we will discuss that and more right after this copd makes it hard to breathe.

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(ch(baby crying)eat) ♪ fly me to the moon ♪ and let me play-- (jet engine white noise) (airline "ding") (bell mnemonic) retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered.

leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.

charles: netflix shares hit all-time high this after goldman sachs has consent subscriber is too low, third upgrade this week for the company. target teaming up with google to activate voice shopping.

come on in, burke, i want to ask you, retail stocks have had a rough week, i saw you with stuart, recently, even though you predicted the demise of brick and mortar names, you were warming up to some, is there going to be a revival with these guys? >> definitely revival and, charles, to your point on the discussion with stuart, people who follow the wal-mart recommendation a week ago have made $10 a share. so retail is going through ice age and renaissance and do well for shareholders. charles: for wal-mart the big news, buyback was big, 40% growth in e-commerce for next year, that's the big news, right? they are starting to play on amazon's turf. >> big news for wal-mart and shareholders and increasing nightmare for amazon. charles: grociers also.

>> just what you referenced before the break, big steel in form of big auto is moving improvement, it'll help with trips to and the amazon scandal with roy price as called out by amazon team member and rosa mcgowan and what we consider a heroic initiative to call both harvey weinstein and amazon for sexual predatory practices was really courageous and very well done. charles: thank you very much, really appreciate it. president trump scheduled this week live at the family research council's value voter summit. it will happen in about 15 minutes from now. keep in mind, first sitting president to speak at this event. you will see it right here live.

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charles: 10 a.m. on the east coast. 7:00 a.m. in california. i'm charles payne. here is what we new for you this hour. president trump at values voters summit. he will speak. this is first of two speeches for president trump today. this afternoon he will keep his promise, disavowing the iran nuclear deal. we're all over this. meanwhile the democrats are still apoplectic for the president's decisionend obamacare subsidies for health insurers. senator schumer and congressman pelosi call it, quote, a spiteless of sabotage of working families. remember senator john mccain single hand he hadly killing health care bill. there are reports that he could kill the tax bill. weinstein scandal ever growing.

his contractual loud him to be sued for sexual harrassment as long as he paid out the money himself. you're watching second hour of "varney & company" which starts right now. ♪ charles: we'll get to all of this. first to the latest read on consumer sentiment. ashley you have the numbers. ashley: this number fell a bit. latest reading coming out at 101.1. doesn't mean anything to anyone. the original estimate was 95. in other words, consumer sentiment coming in very strong. that is the university of michigan. they do this every month. that speaks well to outlook and optimism of the consumer. charles: what i love with the report they break it down between republicans, democrats, independents. independent optimism has been going higher and higher. americans believe. ashley: yep.

charles: five big tech companies. every day, netflix hitting another record high after getting multiple upgrades this week including one this morning. they report earnings next week. facebook launching ability to pick up or delivery from a website or app. shares of grubhub responding negatively to the news. wells fargo reported this morning, profits and earnings both fell in addition to a one billion dollars charge, still dealing with last year's sales practice scandals which continue to haunt the company. democrats are lashing out as president trump takes another swipe end obamacare. he is ending subsidies to insurance companies. chuck and nancy, quote, president trump apparently skieded to punish the american people for his inability to improve our health care system. now millions of hard-working american families will suffer just because president trump wants them to. joining us to discuss, fox news

contributor, tammy bruce, harlan hill, donald trump for president advisory board member. tammy that is scathing. that is more scathing than normal for chuck and nancy. >> this is all projection. when we look at this people sent the titanic out and upset that people are trying to get into the freakin' lifeboats. this is what we're dealing with here. subsidies, important for the american people to know, democrats might want them to remain confused this is not about subsidies to the premiums this is government solution for bost-caused problem. insurance companies they don't want to raise premiums. they're forced to provide benefits to people they don't want. this money was to mitigate the dynamic for insurance companies t has already been tied up in the courts for number of reasons, part of which is, that may have been illegal. two, also we know that there is

congress made no provision for funding of this. this is already a disaster from the beginning. it is something that democrats are responsible for. charles: it was not promoted. it was not promoted at all. it was in the final package, which i thought was incredible. the numbers were astronomical. insurance companies went along because they get paid no matter what. >> exactly. charles: harlan, what about the notion, you break it, you own it. president trump was elected in part to fix obamacare. as it unravels, bad news keeps coming out and media will point fingers at him. >> absolutely. this is democratic plan, big government plan for central control, price control and they're going to subsidize or trying to subsidize outrageous premiums they caused as tammy so articularly laid out. the problem is, republicans in congress are apparently unable to deliver on meaningful health care reform. the president is saying to your point if you're not going to deliver i will deliver on some of these fronts.

yes, democrats will continue to challenge in courts. we have seen the california attorney general say this is at top of his agenda. but at independent of the day the president was sent to washington with a mandate. if republicans will not deliver, they did. liz: democrats did a end-run about power of the purse with subsidy. how do you handle preexisting conditions for elderly on this? >> there may not be a solution to be honest. democratic party did with obamacare theyer to pea doughed middle class. instead of increasing funding for medicaid and medicare which is programs they like, they would force people with preexisting conditions into the same pool. liz: they did increase medicaid spending. >> to cover them. charles: that is one of the main reasons republicans can't get

their act together, a lot of states despite being warned were seduced that the federal government would cover 100% for a while. red states, even someone like john kasich is pushing back against almost everything that president trump tries. >> always what the democrats done, have golden handcuffs on people. charles: but it worked. >> it is part of what republicans trying to address, liz's issue about preexisting conditions. these block grants, all right. i would have mandate, risk pools like we do for bad drivers. there is a solution to this. sending of a block grant to a state like california that is headed towards bankruptcy, in a way, don't already have money, to be able to mandate how they use this money, otherwise it goat into this hole where you never find it. charles: sure. >> there is a solution. what obama wanted to do, ginseng gel payer of this massive movement of money to the states, to fund this dynamic because they wanted all to be government in the first place.

charles: let me stop for one second, guys. i want a specific criticism now, great, you bring down the borders, state borders, you offer these bare bones deals. young people, particularly young people just now forming families will go into them. to emac's point, where does the money come to offset higher risk folks? so the democrats are going to say it was mean-spirited. you heard the term spiteful, those kind of things. >> none of this is going to work. this whole conversation, the current level of debate in washington is a joke. we're on a collision course with single-payer socialized medicine. we were put on this course as soon as the affordable care act passed. we're not going to solve it. as soon as you give people entitlements -- charles: you think this was orchestrated? >> no doubt about it absolutely, absolutely. charles: let me ask if you remember this. back in july, senator john mccain, scene was set, with

gary cooper in high noon, but a little different. he walked into the chamber, he gave it the finger, actually the thumb. he killed the bill. there are serious concerns this could happen again. check out from "the washington post." mccain could give same thumbs down to tax overhaul as he did to health care. do you think he will give them the old -- >> at this point, seems as though there are certain republicans that were never-trumpers to be fair, may have personal animosity with the president and are more interested in sticking it to him than representing their constituents. we saw this with obamacare. mccain, ran in 2016. he ran on repealing obamacare. in just 2016 he ran on real comprehensive tax reform. so what is the hold up here? if you don't like proposals coming out from other republicans in the senate and house on tax reform or obamacare on these other issues, why isn't mccain authoring legislation?

why isn't he proposing alternatives to what is put before him? he is not. charles: alert audience, dow jones industrial average hit another all-time high. we're having this conversation at least you're getting wealthier. to offset all the other things. but, tammy, you do wonder what happened to the republican party that ran for seven years on repeal and replace obamacare, and now, the notion of low taxes, all of a sudden republicans don't believe in supply economics before, they're concerned about things i never heard republican concerned about. >> senator mccain is consistent. he voted against the george w. bush tax cuts as well. at one point they were passed there was a third stage he voted to continue them. his argument is always about process. here is my problem with the senator. he is been there for 30 years. when you're in there a long time you have influence and you can change things. we know senator mcconnell knows senator mccain yet his argument is, well with the

obamacare, didn't go through the right process. so are they not talking? is this simply a set-up so he has excuse to vote no? what his office is saying people know him, about tax reform, these at least will go through committee. his complaint about the obama care repeal bills they weren't even doing that. his excuse may be there is some process here they're going through. but look i like he likes process. we're in a crisis right now. he is an influencer there. a lion of the senate. he had better get on board to figure out how he could vote yes instead of screwing american people. charles: his best friend in washington, d.c., author of the last health care bill, that didn't help. process, communication, all those things seem to fall flat there. guys, thanks a lot. meantime we're waiting on president trump. he will address the value voters summit. we'll bring you there live of the. president trump's chief of staff john kelly taking questions whether he likes his

job. the president acknowledges that puerto ricans are citizens. crazy stuff. that is the media for you. you can't make it up. stay with us.

>> you're looking live at the podium. that is the values voters summit. president trump will speak from the stage moments from now. we'll take you there live. let's check out the big board, all-time high. gold actually crossing the 1300 mark earlier this morning. it is about how much money you made in the stock market this year. to the latest on the california wildfires. 31 people have been killed. this makes it deadliest week of wildfires in the state. robert gray is at the

firefighters camp in napa with the latest. robert? reporter: charles, we're standing in the napa county fair frowned much this is the staging air for the largest fire going, the atlas fire. it is 7% contained. there are hundreds of thousands of firefighters, they have not a latest count so many people coming in from utah, north carolina, davis, stockton, firefighters come in to help. look at video. blazes are still going on. 31 dead, calling it deadliest week of wildfires in california history. hundreds still missing. more than 20,000 are evacuated. we still have a number of fires going on. we should say the weather is better than expected. the winds have not kicked up yet, allowing firefighters to contain some of these. residents are allowed back in the silverado neighborhood where

we were yesterday. power is back on. 34,000 people in sonoma and napa are without power. look at economic impact. 13 billion-dollar industry in these two counties alone. 100,000 jobs dependent on it. 800 wineries in the two counties where they visit. 800 wineries are destroyed. vines are expected to survive. 90% of grapes were harvested by early hot period around labor day. look at beer industry, also getting involved. we have stone brewing based down in escondido near san diego. they are teaming up with indy craft labels, they will donate proceeds, $50,000 to the relief efforts here. back to you. charles: robert gray, thank you very much, appreciate it. want to go now to katrina pierson, spokesperson for america first policies.

katrina, president trump will be speaking today at the values voters summit. first president ever to speak there. what do you anticipate? >> i think the fact that this is the first sitting president to speak at such an event speaks volume as to the commitment that president trump has made to those values that he promised to voters during his entire campaign. i think you will hear a lot of some progress that the administration made with putting americans first with his policies. i think it will be a great day for americans. charles: certainly these are the voters that embraced president trump more than any other, if you say niche of america particularly late in the campaign. i think from everyone that i have spoken to, they're very pleased what he has done so far in office. what is your assessment? >> well they are. many americans, including myself are very proud of this president who has really been fighting an up hill battle from both sides

of the aisle simply trying to keep his promise. this is something most politicians are not used to. they go out, make promises to voters, kick back and cater to special interests this is not a president sitting down to continue to let that happen. that is exactly why he is speaking at this summit. charles: no one said draining the swamp would be easy because we talk about establishment on both sides of the aisle. at least from the island of puerto rico, there has been serious negative harsh criticism this week the mayor of san juan using word genocide in the sense of president obama. what do you consider about the friction, this hurricane hit the island as category 4, something they had never seen before, there is big learning curve for those involved. what do you make of the criticism the president has taken? >> i wouldn't say learning curve where issues come from. it staff puerto rico and inability to maintain structure

there before this the president pointed out several times there were several issues occurring there to begin with. you know, they actually tried this, charles. if we go back it look at hurricane harvey -- charles: katrina as you speak, tony perkins moved to the microphone. he will introduce president trump. please continue. i will say that knowing people in puerto rico, outside of san one, we saw all the big containers on the dock. no doubt that the federal government reacted. but now the problem, there are many probes going on, in fact, fbi probes, some mayors hoarding so of this stuff. seems issue is on local level with elected officials we have to admit got to the place $70 in bet and 40 billion in unfunded pension liability in first place. >> that is what the latest tweets have been about. they tried the narrative with irma and harvey and failed and got resources to the communities a lot faster. not seeing this in puerto rico.

there is delay in communication, which is another area of opportunity for the media to try to drive this narrative. the federal government has responded. the military has been dispatched. the president is very much engaged and cares very much about the people. when he is tweeting about fema and resources talking to elected officials there, they need to doing their part in the recovery effort. charles: that is clear, unless you're doing disingenuous reporting but who does that these days. katrina pierson. thank you very much. >> great to be here. charles: guys, i want to pick this up with you. when they start throwing around terms of genocide, yesterday an elected official compared president trump to hitler. ashley: the missouri senator, state senator. charles: called for his assassination. ashley: correct. charles: what happened to lines of decorum or respectability? maybe i'm being romantic and it never existed? is. liz: i think way to bring that back, civil discourse, say to

people that talk like that, when you speak like that you only demean yourself when you use words like that. so i think the president certainly can be criticized for some of his tweets where he sent off, fired off. some of them were incendiary. he is trying to speak directly to the american people. they like the way he speaks. however the other side of the aisle debased the conversation as well when you hear things out of democrats like republicans want to kill people with obamacare reform. charles: 140 characters always hard to get across the message. i had tweets that were interpreted wrong, even emails, having said that it is not hard to misinterpret using incendiary terms, genocide, hitler that is despicable stuff. >> not only as liz points out the means of -- charles: i think i hear cheering in the background. there is president trump. values voters summit. [cheers and applause]

♪ >> thank you very much, tony. thank you. [cheers and applause] thank you very much. [cheering] >> usa. usa. usa. >> thank you very much. you know, i have been here before. you do know that? before the big day on

november 8th i was here. i want to thank mark meadows, all the folks that made this possible. tony, tremendous guy. we have some incredible people that we love that we're involved with. i'm being followed by mr. bennett, right? i saw him say nice things about me before i knew them. those are ones i like. they speak well of you before you know them right? i want to thank you, tony, for extraordinary leadership of this organization. i want to thank lawana, for your dedication to the faith community, and to our nation. works so hard. it is great to be back here with some friend at the 2017 values voter summit. and we know what that means. [applause] we know what that means. america is a nation of believers. together we are strengthened and

sustained by the power of prayer [cheering] [applause] as we gather for this tremendous event, our hearts remain sad and heavy for the victims of the horrific mass murder last week in las vegas. it was an act of pure evil but in the wake of such horror, we also witnessed the true character of our nation. a mother laid on top of her daughter to shield her from gunfire. a husband died to protect his beloved wife. strangers rescued strangers. police officers, you saw that all of those incredible police officers, how brave they were, how great they were, running into fire. [applause] first-responders they rushed right into danger. americans defied evil and hatred

with courage and love. the men and women who risked their lives to save their fellow citizens gave proof to the words of this scripture, the light shines in the darkness and the darkness has not overcome it. [cheers and applause] all of america is praying for the wounded and the grieving. we will be with them today, and we will be with them forever. [applause] just want to finish by saying, really, we understand it was so horrific to watch and so terrible but to those who lost the ones they love, we know that we can not erase your pain, but we promise to never, ever, leave your side. we are one nation, and we all

hurt together, we hope together. and we heal together. [applause] we also stand with the millions of people who have suffered from the massive fires which are right now raging in california, and catastrophic hurricanes along the gulf coast in puerto rico, the virgin islands, and i will tell you, i left texas, and i left florida and i left louisiana, and i went to puerto rico, and i met with the president of the virgin island. these are people that are incredible people, that suffered greatly. we're going to be there. really, not a question of a choice. we don't even want a choice, we're going to be there as americans and we love those people and what they have gone through and and they're all healing, and their states and

territories are healing and healing rapidly. in the wake of the terrible tragedies of the past several weeks the american people have responded with goodness and generosity, and bravery. you have seen it. the heroism of everyday citizens reminds us the true strength of our nation is found in the hearts and souls of our people. when america is unified, no force on earth can break us apart. [applause] we love our families, we love our neighbors. we love our country. everyone here today is brought together by the same shared and timeless values. we cherish the sacred dignity of every human life. [applause]

we believe in strong families and safe communities. we honor the dignity of work. [applause] we defend our constitution. we protect religious liberty. [applause] we treasure our freedom. we are proud of our history, we support the rule of law and the incredible men and women of law enforcement. [applause] we celebrate our heroes and we salute every american who wears the uniform. [applause] we respect our great american flag. [applause]

cheers cheers -- [cheering] [cheers and applause] >> thank you, thank you. we stand united behind customs, beliefs, traditions that define who we are as a nation and as a people. george washington said that religion and morality are indispensable to america's happiness, really prosperity and totally to its success. it is our faith and our values that inspires us to give with charity, to act with courage, and to sacrifice for what we know is right.

the american founders invoked our creator four times in the declaration of independence, four times. [applause] how times have changed, but you know what? now they're changing back again, just remember that. [cheers and applause] benjamin franklin reminded his colleagues at the constitutional convention to begin by bowing their heads in prayer. religious liberty is enshrined in the very first amendment of the bill of rights. and we all pledge allegiance to

very, very beautifully, one nation, under god. [applause] this is america's heritage, a country that never forgets that we are all, all, everyone of us, made by the same god in heaven. [applause] when i came to speak with you last year, i made you a promise. one of the promises i made you i would come back. see? [cheers and applause] and i don't even need your vote this year. that is even nicer. [applause] but i pledged that in a trump an administration, our nation's

religious heritage would be cherished, protected and defended like you have never seen before. that is what's happening. [applause] that's what's happening. you see it every day, you're reading it. so this morning i am honored and thrilled to return as the first sitting president to address this incredible gathering of friends, so many friends. [applause] so many friends. and i will ask tony and all of our people that do such a great job in putting this event together, can i take next year off or not, or do i have to be back? i don't know. huh? he is saying they're saying no. lawana is saying no.

that means no. so i'm here to thank you for your support and to share with you how we are delivering on that promise, defending our shared values and in so doing, how we are renewing the america we love. in the last 10 months, we have followed through on one promise after another. i didn't have a schedule, but if i did have a schedule, i would say we are substantially ahead of schedule. [applause] some of those promises are to support an -- and defend the constitution. i appointed and confirmed a supreme court justice in the mold of the late great, justice antonin scalia, the newest member of the supreme court,

justice neil gorsuch. [cheers and applause] to protect the unborn i have reinstated a policy first put in place by president ronald reagan, the mexico city policy. [applause] to protect religious liberty, including protecting groups like this one, i signed a new executive action in a beautiful ceremony at the white house on our national day of prayer. [applause] which day we made official.

[cheers and applause] among many historic steps, the executive order followed through on one of my most important campaign promises, to so many of you, to prevent the horrendous johnson amendment from interfering with your first amendment rights. [cheers and applause] thank you. we will not allow government workers to censor sermons or target our pastors, our ministers, our rabbis. [applause] these are the people we want to hear from, and they're not going to be silenced any longer.

[applause] just last week, based on this executive action, the department of justice issued a new guidance to all federal agencies to insure no religious group is ever targeted under my administration. won't happen. [applause] we have also taken action to protect the conscience rights of groups like the little sisters of poor. you know what they went through. [applause] what they went through. they were going through hell. all of sudden they won. they said, how did that happen? [laughter] we want to really point out that the little sisters of the poor and other people of faith live by a beautiful calling and we will not let bureaucrats take away that calling or take away their rights.

[applause] we are stopping cold the attacks on judeo-christian values. [cheers and applause] thank you. thank you very much. and something i said so much during the last two years but i will say it again, as we approach the end of the year you know we're getting near that christmas season that people don't talk about anymore. they don't use the word christmas because it is not politically correct. you go to department stores and they say happy new year, and say other things. it will be red, but have it painted, they won't say, well, guess what, we're saying merry christmas again. [cheers and applause]

and as a christmas gift to all of our hard-working families, we hope congress will pass massive tax cuts for the american people. [applause] that includes increasing the child tax credit and expanding it to eliminate the marriage penalty. [applause] we know the american family is the true bedrock of american life. so true.

this is such an exciting event because we are really working very hard and hopefully congress will come through. you saw what we did yesterday with respect to health care. it is step by step, by step. [applause] and that was a very big step yesterday. another big step was taken the day before yesterday and one by one it is going to come down and we're going to have great health care in our country. we're going to have great health care in our country. we're taking a little different route than we had hoped. [applause] because getting congress, they forgot what their pledges were. so we're going a little different route, but you know what? in the end it will be just as effective and maybe it will even be better. [applause] for too long politicians tried to centralize the authority

among the hands of a small few in our nation's capital. bureaucrats think they can run your lives, overrule your values, meddle in your faith, tell you how to live, what to say and how to pray but we know that parents, bureaucrats know best how to raise their children and create a thriving society. [applause] we know that faith and prayer, not federal regulation, and by the way, we are cutting regulations, at a clip that nobody has ever seen before. [applause] known -- nobody. in nine months, we have cut more regulation than any president has cut during their term in

office. so, we are doing the job. [applause] and that is one of the major reasons in addition to the enthusiasm for manufacturing and business and jobs and the jobs are coming back, that's one of the major reasons regulation, what we've done, that the stock market has just hit an all-time historic high. [applause] just on the public market, we've made since election day, 5 $.2 trillion in value. think of that. 5.2 trillion. as you have seen, the level of enthusiasm, is highest it has ever been and we have a 17-year low in unemployment. so we're doing really some work. [applause] we know that it's the family and

the church, not government officials, that know best how to create strong and loving communities. [applause] and above all else, we know this, in america, we don't worship government, we worship god. [applause] inspired by that conviction, we are returning moral clarity to our view of the world and the many grave challenges we face. this afternoon, in a little while i will be giving a speech

on iran. a terrorist nation like few others. i think you will find it very interesting. [applause] yesterday things happened with pakistan and i have openly said pakistan took tremendous advantage of our country for many years, but we're starting to have a real relationship with pakistan and they're starting to respect us as a nation again, and so are other nations. they're starting to respect the united states of america again of. and i appreciate that. and i want to thank the leaders of pakistan for what they have been doing. [applause] and this administration we will call evil by its name. [applause] we stand with our friends and allies. we forged new partnerships in

pursuit of peace, and we take decisive action against those who would threaten our people with harm. [applause] and we will be decisive because we know that the first duty of government is to serve its citizens. we are defending our borders, protecting our workers and enforcing our laws. you see it every single day like you haven't seen it in many, many years. [applause] if you have seen it at all. in protecting america's interests abroad we will always support our cherished friend and partner, the state of israel. [cheers and applause] we will confront the dangers

that imperil our nation, our allies and the world, including the threat of radical islamic terrorism. [applause] we have made great strides against isis, tremendous strides. i don't know if you have seen what's going on, but tremendous strides against isis. they never got hit like this before. [laughter] stand up. stand up. he is a rough guy. i can see it. but they have been just ruthless and they have ruthlessly slaughtered innocent christians, along with vicious killing of innocent muslims and other religious minorityies and we have made their lives very, very difficult. believe me.

[applause] we've done more against isis in nine months than the previous administration's done during its whole administration. by far, by far. [applause] isis is now being dealt one defeat after another. we're confronting rogue regimes from iran to north korea, and we are challenging the con communist dictatorship of cuba and socialist administration of venezuela and we will not lift sanctions on these regimes until they restore political and religious freedom for their people. [applause] all of these bad actors share a common enemy. the one force they can not stop, the force deep within our souls, and that is the power of hope.

that is why in addition to our great military might, our enemies truly fear the united states because our people never lose faith, never give in, and always hope for a better tomorrow. last week melania and i were reminded of this in a powerful way when we traveled to las vegas. we visited a hospital where some of the survivors were recovering from absolutely horrific wounds. we met a young man named brady cook. he is 22 and a brand new police officer. that night was brady's second day in field training. his second day as a policeman, can you believe that? but when the shooting began, he did not hesitate. he acted with incredible courage, rushing into a hail of bullets and he was badly shot in

the shoulder. this is what brady said. i didn't expect it but it's what i signed up for. when stuff goes down, i want to be there to face evil and to protect the good, innocent people that need it. and here's a young guy, great guy, and second day. i said, brady, don't worry about it. it will be easier from here. [applause] brady's a hero. he can't wait to get back on the job. several weeks before, when hurricane harvey hit houston, a local furniture store owner who is known in texas as "mattress mack," decided he had to help. when the rain began the flood the streets of the city, he sent out his furniture trucks to

rescue the stranded. he brought them back to his stores, and gave them food and a clean, dry, place to stay, even if it meant ruining countless dollars worth of furniture. as "mattress mack" put it, my faith defines me. it is who i am. we can afford the cost, and he said this very strongly. what we can't afford is to cause people to lose hope. in brady and mack we see the strength of the american spirit. this spirit of corerage and compassion is all around us every day. its the heartbeat of our great nation and, despite certain coverage, that beat is stronger than it has ever been before. you see right through it. [applause] that beat is stronger than it has ever been.

we see this spirit in the men and women who selflessly enlist in our armed forces, and really who go out and risk their lives for god and for country. we see it in the mothers and the fathers who get up at the crack dawn. they work two jobs, sometimes three jobs, they sacrifice every day for the furniture -- future of their children. they have to go out. they work. the future of their children is everything to them. they put it before everything. and they make sure that the future of their children has got involved in it. so important to them. [applause] we see it in the church communities that come together to care for one another, to pray

for each other, and to stand strong with each other in times of need. the people who grace our lives and fill our homes, and build our communities, are the true strength of our nation. and the greatest hope for a better tomorrow. as long as we have pride in our country, confidence in our future, and faith in our god, then america will succeed. we will defeat every evil, overcome every threat and meet every single challenge. we will defend our faith, and protect our traditions. we will find the best in each other, and in ourselves. we will pass on the blessings of liberty, and the glories of god to our children. our values will endure, our

nation will thrive, our citizens will flourish, and our freedom will triumph. thank you to the value voters summit. such an incredible group of people you are. thank you to all of the faithful here today an thank you to the people of faith all across our nation and all over the world. may god bless you, may god bless the united states of america. thank you very much, everybody. thank you. [cheers and applause] charles: that's president trump just now finishing making a speech at the value voters summit in d.c. here with me now, harlan hill, tammy bruce, katrina pierson is back with us. joining us "town hall" editor, katie pavlich. let's talk about this. katy, go to you, i remind the audience, president trump pointed out key issues that distinguished america, family,

work, constitution, religious freedom, embracing our history, rule of law, law enforcement, saluting our heroes, saluting those in uniform, respecting the flag and also honoring our customs and beliefs because they define who we are as a people. do you think he hit a home run there, katy. >> i think he did. coming to a place where he doesn't necessarily need votes but comes back to see his friends. that means a lot and shows he is genuine. most of the time politicians only show up to these things when they have election coming up and it is very disingenuous. in terms of the type of peel in that crowd, that president trump win for lots of different reasons but specifically because of the supreme court and the threat to reledge just liberty we've seen over the past eight years under the obama administration, the trump administration acted last week or maybe this week, to repeal mandate for religious companies providing birth control against

their religious beliefs. charles: right. >> to employees. so he is followed through on that promise. he definitely had a packed crowd of supporters there today who will certainly be supporting him when he runs for re-election in couple of years. charles: to that point, katrina, what i find fascinating, we go back to the values voters summit, and they do a straw poll afterwards, remember that straw poll, ted cruz 35%, huckabee 14%, rubio 13%, and donald trump at the time, only 5%. and yet these are the same people that propelled president trump into the white house and brought him in today as conquering hero. what did he do to turn that thing around? >> well, charles, there is a long time between october and then the next vote a year later. this was really important for him to be there as katie mentioned. this is a commitment he made to them. when he made those promises he met with every last one of those individuals and they believed

him. this is someone who says when he is going to do something he will do it. this speech is really important but reaffirming particularly to the republican establishment, a, who their basis, and b, who they need to turn out for them in the midterms. when you have someone like a candidate trump making promises, hitting the battle field, keeping those promises it raises the bar for the others. charles: harlan. >> this speech at least at the beginning was a blistering indictment of the cultural marxism of the last eight years, cultural marxism of the obama administration, the cultural marxism permeating through the media. we're talking about we're not going to stand up and respect the flag, when we're just trying to destroy the family unit, when religion is being suppressed in this country, the president -- liz: how is religion being suppressed though, how is isn't. >> he spoke with the johnson amendment. that is longstanding thing. liz: that is real serious issue.

you don't agree with religion coming into the public sphere, that is public policy. >> you look at schools, where prayer is not acceptable. where the pledge allegiance as close as new jersey it is not acceptable. there is coordinated effort throughout society at this point in time to tackle patriotism, religion and family unit. the president spoke to that at beginning of this speech. charles: one way to wrap it all up, saying merry christmas. who would have thought that would be a flashpoint. >> similar to appealing to truckers. the nature of a message to americans in general, family voters, coalitions if you will, usually smeared by the media as bigoted or people, you should be afraid of, but most americans are relating to this subject that he spoke about today and topics. little sisters of the poor, the flag, et cetera. charles: katie, katrina, harlan, tammy, and company, thank you very much. we'll be right back. >> thank thank you.

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charles: 11:00 in new york, 8:00 in california. here's what is new this hour. catherine munson, ceo standing next to the president when he signed an executive order on healthcare will join us later and i will ask her how obamacare impacted her business and to the iran deal, donald trump set to disavow the nuclear deal but he will stop short of unraveling it or rewriting it. lieutenant colonel oliver north will join us on that. the market at record highs. watch them go and go. the third hour of "varney and company" starts right now. ♪ you know your love

♪ keeps on lifting me ♪ higher and higher ♪ charles: jackie wilson, my mother's favorite singer. market lifting higher and higher. the majority of them in the green. big news this morning on corporate earnings, big banks reporting profits, bank of america, wells fargo, amazon suspending studio executive over sexual harassment allegations. this program this one time i will show you samsung, it is outperforming apple. 51% versus 34%. the market overall hitting new highs. the bears missed out on this, scott shellady of tj am investments. anticipated or picking the top

has been dangerous. how does someone stay engaged in the market when it is so to for those who have gotten out of it? >> you have to divorce you are thinking between what should happen and what is actually happening. i have been doing it 30 years. some historic things happen am a $5 trillion on the stock market since trump was elected but we have had historic lives in the economy, guys who have been doing it for a long time, when you go from what you think should be happening to what is actually happening the story is pretty clear. global equity in flows set a record of $6 billion. look at the top 5 managers, their total holdings of assets under management is equal to the us economy. there is so much cash out there that is going to be hard to pick a topic because any downdraft is up by the money waiting for a bargain.

charles: when we see certain things happening is a we were told would trigger a pullback or major correction, the feds ending q. week, hiking rates, discussing running off their balance sheet. they seem to have momentary pauses in the market but not the triggers we were warned they would be. >> you and i would both say, let's take some caution here. global equity set an all-time record high in one week. charles: what is driving the us market cute >> they do still have hopes for a tax cut and ultimately the growth we are seeing, look at the numbers we look at on a monthly basis. some are getting a little hotter, retail sales not so hot. generally speaking i'm seeing an improvement and most

important improvement is the labor participation rate putting people back in the workforce and labor will be the first thing that turns the economy around. there has been as far as numbers go a better feeling and that is in the stock market. charles: stay right there. we want to get to politics. congressman kevin brady was on the show earlier this morning. listen to what he said about state and local tax reductions. >> mayors and governors put the screws to taxpayers in these high tax states. we want to lower those taxes and keep more of what you learned regardless where you live. charles: we are joined by a republican from virginia. your reaction to that? >> policies have an impact on people. it is interesting that for years most people didn't realize the federal government, the deduction structure, toward their citizens.

the genie is out of the bottle in different election results that were elected leaders that are eager to reach their pockets. charles: someone from one of these states, our net net, and they return. the problem, like your colleague peter king, if you take it from the new york taxpayer sending more money to dc and redistribute to a taxpayer in a red state is that right? is that smart and does it backfire? >> we had a system, i wish we did, based on the federalist structure with state and federal level, that they deem best. you are correct these high tax states inet donors relating to revenue also net donors relating to population. if you look at business

startups particularly manufacturing growth, all these areas moving to states with less tax policies and that is because we need to create products as low-cost as we can to make a profit to continue to grow the economy and create jobs. the economy of yesterday will not be the same as the economy of tomorrow. charles: that has been proven. the freedom caucus, what happened to the argument of less spending? why does than ever come into the equation? >> it does. the problem is i we see them sweeten bad bills with good tidbits and their people to vote against what good did that is so it goes against messaging. i said last time i spoke the road to hell is paved with omnibus legislation relating to tax reform. there are certain things we should do on a bipartisan basis. of people put their money where their mouth is i was in middle school last time before the

tax-cut, don johnson, miami vice with the number one show on television, president obama recognized the corporate tax structure was backwards. charles: let's see what happens, always appreciate having you on. >> look forward to having you back soon. charles: scott shellady is within you are listening to that. what is your reaction? everyone is saying the right thing but we can't get anything done in washington dc. >> the best headline is the president without a party. he put all the politicians in one basket, you are all for the way it used to be and i want to do things differently and that is part of the problem. at the end of the day we all agree he got america's interests at heart, he wants to do well and we need to get something done tax wise, you would that would be appealing to all sides of every aisle but he is struggling because it

turned into not a commonsense argument but i don't want to do anything you want to do. if donald trump had a cure for cancer and brought it to congress they would voted out of town. charles: thanks, appreciate it. an update on the wildfires in california, 31 people have died making this the deadliest week of wildfires in history. hundreds of people missing, thousands of homes and businesses have been destroyed. authorities are struggling to contain the fires a large part because i winds keep whipping up those flames. and american woman, her canadian husband and their three children have left pakistan after being rescued from the telenet or tell the linked group. the family was held for 5 years. pakistan's military rescue the family after the group moved from across the border in

afghanistan. they are reportedly on their way home to canada. we have another policy change from donald trump this time the iran nuclear deal. the president is expected to say that country is not cooperating. last hour donald trump that iran will find his speech, quote, very interesting. oliver north joins us on that. back to health reform, ending subsidies for health insurers and democrats not happy about it. much more on that, we will be right back. ♪

charles: donald trump halting obama care subsidies and democrats are not happy about it. donald trump is gambling with american lives, trump and republicans in congress will bear sole responsibility for the devastation they inflict on hard-working families.

joining me, lawrence jones, host of the blaze. your reaction to donald trump's move here? >> it is pretty comical they suggest the president is trying to sabotage the american people's healthcare when we have had years of obamacare, we see insurance companies pulling out state to state and it is hurting the american people yet they have tried to do nothing to improve the care system. they won't come to the table for a bipartisan measure. the president is doing what he can do from the desk to stop the bleeding. charles: obstructionism is one thing, negative public relations campaign and hope no one looks at you pointing the finger because to your point, in this case trump taking a shot at some of the republicans, it seems to be a bipartisan problem. >> it is a bipartisan problem in the house passed over 200

bills and yet the senate continues to let them die every step of the way. that is problematic. i think the republicans have to answer for campaigning for six years and we will repeal this law, get you something better and despite having six years to come up with a plan when this president took office they have yet to send anything to his desk that is close to a repeal. republicans have to answer, not democrats. charles: something totally different, harvey weinstein, tn the saying his contract allowed him to get sued for sexual harassment as long as he paid the victims. this thing keeps getting worse. the implications are amazing. >> pretty disgusting but i'm not surprised when you consider multiple reports during those board meetings when they bring ladies in and all those people

who were part of the company praising these women and a car waiting for women to go outside, to go to a hotel with harvey. the whole company needs to be shut down. this is a culture problem within the company, we need to make sure we are reporting on this accurately and everyone who has something to do with this are held accountable. the statute of limitations when it comes to these cases a lot of that dna and those rape kits won't be able to be used but i'm interested to see if there's some evidence that happened recently. charles: i read reports that police officials, derek jeter, he is fine with players taking a knee during the national anthem. >> that is a private business. they have to decide what to do but the american people can decide if they want to tune

into the game or not. that is one of my criticisms of the president, he shares the sentiment of a lot of americans and i believe we should stand for the national anthem but it is problematic when you tell a private business who to hire into to fire. companies, nfl, nba, and this baseball team have to decide will they this and to their customers or play politics? they have to deal with the consequences. it before the american public has spoken loud and clear on this and the majority come out against kneeling or protesting, aren't you effectively telling them take it or leave it? it is a dangerous thing to tell your customer you don't care about their feelings. >> it is the appetizers as well the decided they might be pulling a. that is the consequence with their actions. people in hollywood at these movies having political movies and the american people don't

want it, hollywood as well as the nba players and baseball players are more concerned about their politics and see how it affects their paycheck. charles: i got a feeling things will change slightly. i appreciate it. check out the cable providers, on pace to be the biggest as far as pay-tv subscriber losses, they have been under serious pressure and look at general motors, stock up nicely, a lot of good news at the company. can't say the same for trucking company jb hunt which posted their results before the open. i want to alert you on this. bruce arena resigned as chairman of the soccer team after failing to qualify for the world cup, probably the

first of many moves. by the way, later this hour joined by catherine munson who was standing next to the president at the healthcare executive signing yesterday. i will ask how did obamacare impact her business. check this out. west virginia coalminer josh showers is singing the star-spangled banner as they head underground. ♪ for the land of the free ♪ and the home of the brave ♪

charles: tesla is issuing a recall for 11,000 model x cars, the problem is with the second row seats tesla found cables connected to the second row streets yanked during the crash. it was recall based on his own research. using test labs mobile repair apps to contact the technician to adjust those cables fractionally higher. delta making it a little

easier, updated mobile apps for flights automatically, travelers have to clip on the apps and acknowledge federal restrictions, and a recording pass will generate it. the only thing not clear yet is how travelers will be able to tell the airline whether they plan on checking a bag or not. ashley: last minute changes don't work. charles: more trouble for equity fax, malware was found on their website. hackers altered the page to send users malicious software pretending to be adobe flash. this is after they revealed a massive data breach indicating 145 million people impacted. the big five tech companies, netflix, another recommendation, record high, three upgrades on that start

doing very well. a pickup or delivery direct from the site sending shares higher and going much lower. wells fargo reported there earnings this morning, both fell, there is a billion-dollar charge dealing with last year's scandal with those practices. to the iran deal, the president will say iran is not cooperating and leave it to congress whether to uphold the deal. oliver north will join us on that next. ♪ [fbi agent] you're a brave man, mr. stevens.

your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible. [hero] i'll take my chances.

charles: it is like a party, friday, the weather is great, we didn't take the world cup but that is great, marcus hit all-time highs. the dow 30, majority of those names are higher. we had an intraday high, markets really rocking. a lot of people say it seems -- getting earnings in, last earnings season a lot of times these stocks did go down but

the managing director, what is your sense on investor optimism. >> investors are confident profits will continue to grow and we will avoid disruptive intent by interest rates. charles: what is not -- the economic data we are seeing. it is becoming hard data. we see some solid numbers. >> consumer sentiment, getting record-breaking highs in the equity market, consumers are more confident. that tells me this recovery still has long legs. charles: what about the jobs market? had the jobs report on last friday. certain parts of the jobs report are pretty interesting,

wages -- >> jobless claims, the lowest readings ever. relative to decide the labor force and this is telling me, they are not laying people off. and household spending. charles: with respect to the markets, what happens out of washington dc? donald trump's regulatory cuts had an impact. small business sentiment, not saying they are worried about the environment anymore but everybody wants these tax cuts. how important is it in your mind they happen? >> once the economy begins to lose traction and consumer spending slows noticeably these tax cuts become of critical importance. now we can afford to wait, but we have to kick in to keep this

economy safely distant from the downturn. charles: i want to talk about health reform, donald trump unraveling obamacare, and health insurers, the impact on the economy. >> small business, very important for small businesses to form trade associations and enter health plans that are cheaper than currently available. it is good for people working for small businesses and makes it easier for small and medium-sized businesses to hold on to quality employees and most job opportunities on small businesses. charles: it is so zeroed in on small businesses, they don't have a big voice in washington dc, on both sides of the aisle. >> not every kid goes to a college or university, some kids still -- this is the only way to get into the labor force and carve a career path. charles: repatriation of taxes,

donald trump talked about that, central issue to the truckers, trillions of dollars offshore. democrats saying george bush did that and it did not work. >> numbers i have in front of me did work. and in 2003 averaged 3.6% 2004-2005, and 7% in 2004-2005 and job creation. and in 2003, it went up to 200,000. the jobs number, and the year before had this tax holiday, and 10,000 new jobs, and 270,000, 2004, and 210,000.

charles: to 200,000. i had congressman brady on earlier, why can't you articulate how great that was. senate democrats in 2011 put together a report, from 2004-2007 and it was disingenuous, why can't the republican party articulate the same message. >> stick with basic data, ignore the report. a lot of studies not worth the paper they are written on quite often. and that is what economics is all about. charles: decided to write the report. charles: donald trump speaking at the values voters summit. listen to this. >> bureaucrats think they can run your life, overrule your battles, middle in your faith

and tell you how to live, what to say and how to pray but we know that parents, not bureaucrats, know best how to raise their children and create a thriving society. we don't worship government, we worship god. charles: the man who introduced donald trump at the summit, tony perkins, family research council, thanks for joining the show. >> good to be with you this morning. charles: looks like that was one heck of a speech, one heck of a reception. i'm sure you had a chance to speak to the members. what does it feel like in the room? are people excited about what they heard today? >> without question people were on their feet and excited to hear from the president. the president was excited to hear from them. it was a mutual meeting where the president needed to know

the values voters across the country that helps put him in office are still with him eager to drain the swamp and help the president succeed in all his campaign promises and as i introduced him he has done a good job keeping those promises. charles: it is amazing he had a similar focus on the core issues of those who supported him most including people who attended the conference. we watched as a group here, four or five always had a discussion and one of the key parts of the discussion was whether religious freedom was under attack. some people believe it is not. what are your feelings? >> obviously it is. we have a case making its way to the supreme court on the issue of religious freedom. the master cake case, jack phillips wanting to exercise his faith in the marketplace is told no and increasingly we are

seeing that across the country and the president last week after the executive order was issued in may the department of justice telling every federal agency they must protect and promote religious freedom. the folks here understand the threat that exists to religious liberty and the president understand that and is committed to delivering what he promised to last year's election. charles: great to see you. about an hour from now donald trump will deliver remarks on his iran strategy expected to say iran not cooperating with the nuclear deal and let congress decide whether to uphold it. we are joined by oliver north. what do you think of what we are hearing out of the press the donald trump will allow congress to take a look at this? >> they need to. welcome to the obama administration's great gift to the new world disorder. donald trump ordered an iran

policy review in april. the present law requires them to certify every 90 days and uranium in compliance with the obama administration's so-called comprehensive plan of action whereas john kerry called it the iran deal and supposed to confirm it is us national security. the iranian deal is worse for the american people than obamacare. they can both kill you, just a matter of how many and how fast. no doubt it is a bad deal, four reasons why. first so many loopholes, sunset provisions and blind spots. iranians can be in compliance by funding and working with north korea on nuclear weapons and icbms and no consequences, the snapback, was ludicrous from the start. the revolutionary guard corps

barring national atomic energy inspectors from irani and military sites. it makes no mention of other bad behavior. the revolutionary guard corps is running amok in iraq, syria, lebanon, bahrain, and the iranian still holding american hostages. levinson is missing in iran for ten years. a college student from princeton is facing a tenure sentence for spying. and a father/son combo under investigation. negotiating a revised deal can get congress fully invested based on bad behavior and failure to comply with a new agreement and united nations resolutions enforced by the un on icbms, renegotiated deal.

charles: european partners seeing very reluctant, theresa may gave a full throated rejection pointed trump saying leave it as it is. and they seem reluctant. what if this gets bogged down? what happens if our allies aren't with us? >> congress will go along with it. we can't do to iran what we have just done with the north korean nukes. not just on iran, any company that has any business with iran, that is the thing that actually works. if we don't do something now the proliferation of nuclear weapons is going to explode and that is not a pun. charles: thank you very much. be sure to catch war stories at 8:00 eastern on the foxbusiness

network. an update on wildfires in california, 191,000 acres burned, 31 died, the deadliest week of wildfires in the state's history, hundreds of people still missing, thousands of homes and businesses are destroyed. authorities are struggling to contain a fire because of high windss whipping up the flames. we get a live report shortly. and stuart varney is off, microsoft hitting an all-time high of $.18, $77.30. first, joined by catherine munson who will come on with us standing next to donald trump as he signed the executive order and we will ask her directly obamacare, how did it heard her business? markets are up, we will be right back. ♪ [vo] when it comes to investing,

looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock.

nicole: a record-setting day on wall street. watch out grub hub, facebook getting ready to deliver your food. a new feature allows you to order food that includes delivery.com, you will be able to have food delivered to you while you are on facebook. not only will you have those

services but you will be able to have a hot restaurant you know so well. and on facebook in the order foods section, explore the menu, order what you like. it is down 3% and also on the move, facebook is higher.

charles: my next guest was in the room with donald trump when he signed the executive order on healthcare, ceo of fast signs, a company makes us -- signs and graphics. how everybody wants to know obamacare impact your business and tell us about that. >> it absolutely did. the higher taxes obamacare brought impacted small businesses and the employees of small businesses more than anybody else. there was the promise if you like your plan you can keep your plan but i know firsthand many of our franchisees health policies were canceled and disappeared. it certainly hurt competition. charles: it also hurt the ability to grow the business, felt like as small businesses grew the more regulatory

pressure you come under. >> no question that is true. i know several franchise owners who were at 46, 47 employees and chose not to grow or open additional locations, not to create more jobs because of the burdensome regulation with obamacare. charles: it is counterintuitive to the american dna. we have a new executive order, not every i am sure everyone is hoping for with full reform, repeal and replace, this particular executive order, how will it help you? >> i have been advocating association health plans since the early 2000s, giving small businesses the same level playing field big corporations and unions have where they are allowed to have -- provide insurance across state lines, give small businesses the

opportunity to pool their resources and have insurance companies compete for their business or large pool of people, really a dream come through but i have to tell you executive orders come and go, change in administration executive order could go away. i want to have a legislative solution. the house has a great bill passed in march. hr 1101, small business health fairness act. it has been languishing in the senate and that is a way to lock in legislatively the opportunity for small businesses to have those health plans. imagine, we have all these franchise locations, to employ the piece, talking 6000 employees. if we could go to market to an insurance company to get insurance for 6000 people we would get better prices, more benefits, great for everybody. charles: it certainly would. can you give a word of wisdom to the senate? the republicans in the senate

promised people like you, promised the american public they would do these things and holding it up. >> i have to admit i have frustration as well as everybody in the senate but i don't see how anybody could be against association health plans except the insurance companies that like to sell the expensive plans to small businesses but getting millions of americans covered with affordable health insurance can only be a good so i'm hoping the democrats joined with the republicans and pass hr 1101. charles: congratulations, appreciate it. missouri state senator hoped for donald trump's association in hot water again. ashley: the first time around for which she did apologize after the outrage and deleted it, said donald trump should be assassinated. she also said he is responsible for the illness, death and despair in puerto rico.

she is at it again using what you see, african-american woman taking her shirt off and becoming a white woman, superimposed images on that but there you go. trump on the top, guess who is below, adolf hitler. she is creating a lot of outrage. fellow lawmakers in missouri say this is shameful, disgusting, she says i'm not backing down. she says i have a first amendment right to share my opinion. if this is offensive to people they should look at the first amendment again. charles: i will point out they did remove quickly and apologize, thank you very much. we will head to california for a live report on those wildfires so please stay right there. you know who likes to be in control? this guy. check it out! self-appendectomy!

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area. the president of the sonoma county winegrowers, for joining us and earlier this week you lost your home to the fires, your vineyard was threatened and you had to evacuate your mother. how are you dealing with this? >> talk about an unbelievable week but our community is coming together. there is an amazing spirit we will get through this and rebuild and we are headed in that direction. >> reporter: wine and tourism are economic drivers for the area. more than a dozen wineries have been burned down or damaged but you say signs will be okay. what does that mean? how did that happen and what does it mean for the business going forward? >> the vineyards are acting as a natural firebreak, they are slowing down but not stopping the fire, they are saving structures and saving lives. we have a 2017 vintage in sonoma county, we are driven by

tourism so keep coming to visit us. the best thing to do to help us rebuild is continue to support us and visit us. we are open for business. >> thank you for joining us, good luck to you. charles: thank you. of all the natural disasters, the three hurricanes as now this. ashley: a horrible year for these events, 31 point they expect that number to rise, winds are expected to increase 20, 30, 40 miles an hour so we are not out of this. charles: two days ago? ashley: they need a break, higher humidity, rain, they had five years of drought, this ground is so dry literally these trees explode as the flames move through.

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jo breaking news on sears. sears canada, won court approval to begin liquidation of their remaining assets next thursday. ashley: play taps. charles: breaking news right now. senate minority leader chuck schumer saying a lot of republicans want subsidies to be restored. i'm sure there are some that do. ashley: look, premiums, according to chuck schumer will shoot up 20, 25%. the decision will drive up the deficit by 194 billion over a decade. he goes on to say, guess what, the gop now owns health care. thanks, guys, after you completely blew it.

look, this ridiculous situation is the, yes, they will have to cover these costs for those. there is the perception out there, let's be honest, those who are sickest, existing conditions what will they be left with? what kind of policies will they have? can they afford them? that is issue that needs to be addressed. neil: president trump is taking a serious, strong, somewhat controversial approach to this, congress and republicans, democrats can not get the act together. it is easy to take shots like this. ashley: they vent done anything. charles: obamacare sun mitigated failure and getting worse. ashley: it is. maybe spurs congress to get something done. the other side of this story, charles, there are many people paying huge premiums and huge deductibles for a lot of health issues they don't even want or need. so the need for a skinny package for those people is just as paramount. charles: we'll see what laps.

got to tell you, right now it doesn't look great. we have hospital stocks. health insurance stocks. not a good day for them. but perhaps for the american people. neil cavuto in seattle. neil. take it away. neil: thank you very much, if any sector of the economy benefits from talk of tax cuts, charles, it is technology. we are at its mecca today, in seattle, washington. this is the home of amazon. this is the home of microsoft and on and on and on. some of the biggest names in and outside of technology if i focus on the technology names they pay at advertised rate, they pay at top rate. that is the way it is. not all of them but very close it all of them when it comes to financial, federal tax obligations. when we hear talk bringing corporate rate down to 20%, whether you get close to that, those are guys t