sporallatives new words to describe american technology companies. good friday morning everyone. amazon, google, microsoft, nobody expected what profits to be this big. they blew everybody away wait until you see how much had their stock price is going up you won't believe it a gush herb of money for their stockholders. and larry paige they gained billions just in the last 24 hours. microsoft bill gaits cool in with a extra $400 million. chump change. impact of these companies is spreading drugstore chain cvsments to buy etna why? because amazon is lurking and may get into the pharmacy business. now look at the impact on the overall market. another new high coming in a few minutes especially on the nasdaq

going straight up the dow is up a little bit as well. not far away from 23,500 now is it? one more thing despite the hurricanes in september, the economy is still expanding at a 3% rate. who would have thought? add it up please, technology surges -- profits across the border really strong and trump budget win to growth and trump rally rolls on this friday morning. "varney & company" about to again. all right let's start with overall market dow futures showing a gain of maybe 20 points, hello. we have a bell for you a little later. looked a nasdaq way over 6-h100 well because technology is very strong. look at this. amazon microsoft alphabet

promise to show their premarket performance. will you look at that. a.m. son premarket up 80 i can't read 87 dollars per share. google is up 44 dollars a share. and microsoft is closing in on a $6 per share gain. jeff is with us with circle square alternative investment don't comment on three stocks. comment on the overall market. is the performance of technology going to take us on a new leg up here? >> first of all let me say these earnings did blow what hair i have back. they were -- spectacular. they were excellent. i would be first one to tell you i was thrilled especially for everybody on this panel that so exuberant all of the time. here's the bottom line the market has been focused on this handful of stocks. you have google, you have amazon, you have facebook, you have these handful of stocks microsoft, then you have an

entire rest of the market. okay that's been in the back draft of these stocks, i believe this leg which has lasted nine years, this is a really, really long leg. has got to be a more broad base ed focus so we could have these stocks continuing to move up if the other stocks don't keep -- 50% of the gain going towards these five stocks that concerns me. fnlings that's a fair point to make how about that 3% annual growth rate just reported for the third quarter? that was not expected as much stronger than expected. you with like it? >> i like it but i'm so focused on the tax cuts, the tax cuts have to happen because this is -- the market is based on psychology. the psychological is based on the expectations that tax cuts will happen. and if they don't, we're going to see gdp track back and see confidence track back and that's a problem. >> you know, we come on this show on a friday morning all xiewb rangt about this stellar

performance and what do question got bob here cold war -- all on it. give me that fact. thank you very much. [laughter] you're all right there jeff. you can statistically arranged till open the market. we'll see what happens. staying on amazon it is being a big impact on so many industries look at amazon' potential entry into the pharmacy business to help spur cvs bid for etna and then wal-mart xngding program that will put robots in a lot of stores. that's part of wal-mart plan to respond to amazon. nike announced more selective about what store it puts is products in and don't want to work with mediocre that's the amazon affect finally a number of brick-and-mortar stores 6700 will close this year. soing managerring director burt, a.m. son is the only game in

town in retail am i right? >> you're right amazon will rule retail and with these bags coming out they're going to roll everything from the refrigerator to freezer to cub board to closet. this is amazon refrigerated bag you can ship frozen ship you ship temperature and refrigerated food and amazon is taking all of their lipstick cosmetic and fragrance sales where it might be a $8 ring for a cvs but a 4 for cvs from lipstick to grocery to consumer electronics all come in this -- and everybody else is shipping in boxes and paper bags. so well -- >> to say did i read this correctly that amazon this year -- will have 43% of pall online sales? that -- 43% of online sales and parking lot other big 43 number is their quarter sales which is about

double the size of macy's and bloomingdale's combined for the year and macy's and bloomingdales is is the biggest most successful leading dpght store. >> i'm looking at the screen amazon will open up 86 dollars at 1,08 to prosper you and my team recommended $500 it hit 1,000 and it will hit 1250. rks you're still with that. hit 1250 don't sell it, hold it. keep going it is going to rule retail to hallow out rest of retail so some of the concern. >> are you listening? >> i loved amazon i'm with you. okay stay there burt more for you later. now i have to get to politics yeah we do it shall we cover politics why not? democrats get worked up about that budgets which did pass the house yesterday all be it narrowly. listen to napes. roll tape. >> what republicans did today was to give, was to give --

a open pass to this assault, an assault it's, you know, a ripoff. a shake down alluding of the middle class. it's stunning. it's really startling, and so you know it's a con, it's a massive con. >> embarrassment. anything stunning of microsoft earning that's my personal opinion. bionew york with us with washington examiner doing best not to laugh. all right byron i see this as a winner of trump and after that performance by nancy pelosi and a loss for the democrats. what say you? >> look, i thinks it's kind of a cry of powerlessness from the democrats they know they can't stop this. the budget did pass in the housing right on the number 216 to 212 mobbing there were a number of republicans who were not happy with this -- whole idea of changing the state and local tax deduction that could be in tax reform and that's something that's going to

be worked out in the process. but i look i think what you're hearing from the did include leadership is just kind of a cry of anger when they know they can't change anything. >> can they not change details of what we get next week on democrats power to affect that? >> well, they have a pulpit not quite as bully as the republicans. but they have -- they can make their argument in the public. but you have to remember the whole point of passing this budget in the house was so that the senate could pass tax reform with 50 votes plus the vice president. so this can all be done with republican votes and they know that. >> you think we're going to get a tax deal request 50 votes in the senate you have to say one way or the other we don't know details but we're going to get it? >> like i think we've talked about about this a lot about republican desperation they messed up obamacare very badly.

and they know that they messed up taxes they would go into reelection next year, not only having not done any big legislative accomplishment but having broken their top two promises which was to repeal and replace obamacare, and to reform taxes. they know that -- they're desperate and democrats know they're desperate. so i think everybody kind of thinks that something is going to get done here. erchtion well world of money byron is listening very close of you saying yes we'll get a tax you may have moved the market. soon, vrgt byron thank you indeed thank you. yes, sir. some individual stocks also making a lot of news, look at intel another technology company. it says it is data tay center and memory businesses posted records revenue in the stocks nearly 5% so very big move for intel. the toy maker, however -- mattel way down at the opening bell 14, 15%.

remember american girl a huge product not too long ago. we did a special story on it. sales of american girl down o. 30%, and mattel is getting rid of the dividend down she goes. now look at j.c. penney that's down 5% for cue organ music birke you're with us we're playing organ music death watch for j.c. penney? >> but reports the best advising venders and investors on distress is predicting over 7,000 stores will close. they're saying penny will make it but most of the department store chains that are under capitalize willed not so you'll have -- record number of retail bankruptcies record number of store closings, part of the destruction from the accelerating retail ice age and amazon hallowing rest of u.s. retail. >> do not put camera on jeff

because months ago he recommended buying j.c. penney at five. it is now 2. >> there's the camera. [laughter] >> so -- you're watching very closely. oh, very serious subject. listen to o this. very shocking a plague outbreak. it has killed more than 120 people in madagascar 1100 infected the world health organization warns nine of the countries this plague and it is the plague, it could be heading their way. we've got that story for you. conserve five radio host that is suing google and youtube he says they're censoring conservative speech violating firstment rights he makes his case on the show today. interesting development new show a british reporter who was contacted by an anonymous source 25 minutes before kennedy was shot. that reporter was told that big news was k078ing soon. more varney after this. vesting,

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>> president trump ordered release of-ups of documents related to the kennedy assassination including one that shows a british reporter was alerted that, quote, big news was coming just 25 minute before jfk was shot. chtion there was a reporter at the time for the cambridge news, this told reporter who is not identified in documents that have been released he said this reporter should call american embassy in london with big muse and then promptly hung up the domestic security agency in the phuc really following investigate said that reporter in question is a solid individual. not a back wacko and solid individual but that call was placed 25 minutes before jfk was assassinated back in -- in dallas. so you know, make what you will of this most of the documents i have to say so far that have been released underwheel but some not released some redactd

that haven't been out yet but most interesting nuggets that have come out of this. >> who called lee harvey ozwald. could have been this, 20 house republicans voted against the budget yesterday. that is interesting. joining us now is congressman eric a republican from minnesota a member of the tax writing are committee. to don't want to mess with 401(k) and don't want to get rid of state and local taxes you have to get rid of the two items to go forward with a tax cut plan. >> well look reality is that budget that passed sets the opportunity for us being on passing historic tax reform and may vote against a budget and what details are not in there but reality was this was not a he have lift. we pass this overwhelmingly just to move it forward to make sure that we're on bridge the tax reform that will help get the economy booming again. >> okay when we get, you know,

when is voted on in the senate when there's a tax package votessed on in the senate will it have these state and local taxes get rid of that deduction will that be in there? will they have restriction on 401(k)s? i say no. because you can't pass it like that. what say you? >> well that's exactly right there's no problem that kengt be solved which is why when bill is released next week we're going to see prompt action dealing with both state and local deductions -- >> i have to ask you sir, you're discussing it. are you scaling -- are you scaling back or are you saying get rid of it? >> well no we're not getting rid it have with we're sure we're listening to needs in the states and targeting efforts on property taxes and local taxes where that's an issue in certain states especially for seniors that don't have an income coming in anymore and getting taxed out of their home so we're addressing this issue to make sure it will be tarted middle income family. >> congressman are you from

minnesota? minnesota, you are. >> twin cities yep. you're a republican. >> correct. yep. mples other republicans in minnesota that i should know about. i'm just joking. eric stuart congressman, thanks so much for being with us we appreciate it. >> good to be with you. much more on taxes later this morning on our show kevin brady weighs the committee they writ tax code he's on the show and ask him about state and local tacks and 401(k)s i have a new fox poll out 46% say -- they do have a favorable opinion of the informal 46%. that's down 18 points from 3 years ago. football legend joe joins us later this morning. hello, this is adt,

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well you know this looks like a healthy sign for retailers come this holiday season a "gallup poll" that shows kiewrls plan to spend more than 900 on gifts each 570 last year. by the way that would be highest spend lfl since 2007. but jeff seeger and burke with us you first that's a whole lot more money spent on holiday season hold up of it goes onis line? >> you're going to see a 12%

onis line and 25% to amazon 2% increase for brick-and-mortar but flynn referenced earlier when gas, oil, solar will going up agricultural is up. transportation gdp as you reference stuart up 3 points retail is good across the board and this is going to be the season that's going to save the rest of retail beyond those 7,000 stores that credit reports. but big blowout is amazon online? >> clearly lay way tots rest the world. >> all right now jeff seeing per 3% -- going to dump all over you, 3% groat just reported. first reading of the third quarter, dupght tay set the stage for a healthy holiday season? >> here's the thing buried within that 3% growth there's been a decrease in discretionary spending that concerns me. but this number -- hurricanes. right. but well, okay. but you know what --

here's what i see gallop to me this is do you feel good enough and good at this moment that you're going to spend a lot for christmas here's the issue i have with it. a lot of it is based on middle-class anticipating to get this tax cut if the middle-class gets this tax cuts and they have more money many their pocket they feel goods they're going to want to spend if this tax cuts doesn't -- come through, you're going to see a lot of these numbers reverse themselves. this is a feelings number and feelings number are based on -- based on tax cuts. >> i'll give you that. i will give you that. >> great in the argument. it was a good argument. and i'll take your point it depends on tax cuts if you don't get l them. problems here. >> retroaboutive. well talking about it yesterday. i wish it was but it won't be. i'll tell you. you're all right and i think your point of view is -- valid. now let me have a look at the

free market performance of look at that. will you please now oab we have lots of radio business. amazon premarket is up -- 87 dollars. alphabet premarket pup 42 dollars per share. microsoft up 5 bucks a share, it is close to its right now at 84 dollars a share. that is microsoft. that's going to pull the nasdaq up to yet another record high, it is going to help the dow move higher at the opening bell which is four and a half minutes away frankly i can't wait to see how the market opens and closes the day it is going to be or very excite. back in a second.

>> i've got 45 seconds to as we say in the business tap dance before opening bells rings. >> 40 now. [laughter] doing all right. it is going to be easy you know why, because there's something going on here which you find truly exciting an absolute blowout report, three blowout reports from alphabet amazon and microsoft. with maybe more to come next week. that's the back drop to this market. moments from now, you are going to see a gigantic gain for those three technology stocks. and we also have one more thing

in the background. from the july to september quarter this have year that's the third quarter. the economy was expanding a the a 3% rate are of growth. even though we were hit with two maybe three hurricanes in month of september. bang 9:309 we are up and we are running will you look at this oh, do i see some green i see a lot of green. there we go up 18 points, that's not the full story. the real story here is not the dow. the real story is those three technology stocks but let's deal with the rest of the market furs. the s&p 500 broad base indicator where is that? up a third of a% nice gain. now nasdaq i expect to see that way up indeeds. 76 points up technology is is the story of the day. and nasdaq is home to technology. right, they're up, they're running toipght see amazon will you look at that -- l and a half% up, 84 dollars up. 156 blowout profits and performance yesterday, all time high for google, 1,029 up nearly

4% that's 38 dollars up just like that. all time high for microsoft don't play trumpets i want to hear the harps. play the harps. ♪ awe -- i'm upward bound 8468 and up 7% higher. yes, incase you don't know it i do own a tiny thin sliver of that company called microsoft ashley is here speaker is here and so is d.r. barton you first blowout earnings from technology does this mean the start of another leg up for the overall market? >> i believe that this is a market that's much like rasputin it just won't die. fed tries to kill it people who say it is too old try to kill it, and it just won't go down because of reasons like this everything is funneling to these

big tech stocks and they're doing something else. they're driving competitiveness down the value chain helicoptering this market pushing up, stuart. >> okay. jeff i know i've asked you already but you think this thing could -- could get hurt the market get hurt if we don't get tax cuts that's your opinion. >> see here's the thing and also you know what, tech earnings were phenomenal tremendous. but we did have a very home quarter last quarter so we haven't had the momentum to sustain these gains. >> okay. okay cut it off right there. [laughter] quit while you're ahead. okay, all right cvs announced to buy the insurance company etna they're prepared to pay $66 billion. this comes after amazon reportedly gained wholesale pharmacy licenses and a lot of different states. that's another extension of the amazon brand, it is influence on other industries, isn't it? >> and cvs is hearing footstep of amazon panning i happen to

like them as well i don't own shares. but a.m. discounts to be in the drug business. they have right now a wholesale license in 17 states they want to retail license. if they get that retail license, whether through a acquiring a retail pharmacy or some other way, there is going to be a complete change in paradigm and amazon will dominate yet again. this is the brilliance of jeff bezos he dominates. >> a hurt company is pex press amazon hired a blue cross/blue shield exec five mark lyons i have to wonder you're going to have drone deliveries, of your aspirin and shampoo i'm jus kidding. >> i don't know if this will happen but looking in the future you go to the doctor. he gives you a prescription instead of going to the pharmacy and waiting heaven knows how long and then going home no you go to the doctor he'll write out a prescription and deliver it to

your door be there when you get home. >> here's the risk to amazon they want to be in this industry this is a heavily government regulated industry. >> by the -- there's boing to be issues with it and amazon biggests enemy at this point is the u.s. government, and antitrust. they can't -- >> how many go ahead stiewrts. stuart: got a lot to get in here. gdp gross dmes pick product got reading for the july to september quarter it is up 3% annualized rate of growth that's in the backgrounds here. you're looking at the dow going down -- there's a reason why it is down. two dow stocks merck and chevron are way down. that's affecting the overall index even though these tmg stocks are just going gang busters okay. now, if we -- if we do get tax cuts, dr if we do get them and already got a 3% rate of growth, what's the rate of growth in next year? >> this can bump the imroat in

another 10% on top 3 to 3.3 and here's the thing that's going on stuart we have great earn frghts big tech stocks. we've got gdp better than we thoughts how come markets are up marginally xepght for the nasdaq people are looking at the feds saying it this could be inflationary in the short-term and put on brakes a little bit sooner than we might expect and getting a little bit of a muted response. fnlings dow is down by the way or fractionally because of merck chevron we would be up but for those who stocks. cute organ music jc penmy down and down big this morning. almost 20%, that cut their sales forecast cut their profit forecast, is is anybody around this table going to buy j.c. penney at 2.949? >> no. you qoangt.

okay. no investor money has to flee from all of these. if you. the to be a short-term tradesser and buy a pop, i think there will be a chance to buy j.c. penney for a little 5% move up. but nothing other than that. psmghts it impose up 15 cents you have $5. exactly. might take that. check had the big board we're down 11 points much this have loss accounted for by merck and chevron question of to look at general electric they're looking, look towards selling their transportation and health care information technology businesses. there's a giant businesses by the way, g serks down again. down 12 cents at 2120 wouldn't anybody around this table buy ge at 21 seeger? >> i'm sorry. dr -- love the short-term bounce play i don't like investing in ge right here. >> it goes to 20% you have 10% that would be great. i think we have to break below 20, we have to hear some bad news about the diff ends and then it can have a turn arranged. and then you would buy it.

>> i'm pecking at it right now i'm packing at it. >> a little -- >> getting ready to peck at it. [laughter] i like this krerks oh, i think he's cutting -- he's cutting expenses at he should, as should have been done with ge five ten years ago. he's doing it. cope an eye on him e not dead don't play that organ it's not deeds. [laughter] >> general motors that's a stock is that's been on a tear recently perhaps because of their 4a into electric cars this morpght dow 48 cents about 1% intel, now here's another technology company that made a upon p ton of money from data center and memory businesses. they're up 4.7% big gain for intel. now exxon reported big profits for the stock o is down. we have chevron, hay did quite well but they are way down 4% they're a dow stock that hurts the overall average as we said. the pharmaceutical company merck

what's another dow stock, and that's down 4%. why? they lost 56 million dollars in the latest quarter, they say that their sales? japan were down, better sales at colgate that is -- makes household products colgate two faced irish spring countless others they're down 60 cents 70 a share. good year make tires, of course, boost in sales up goes the stock, no -- down it goes -- how does that work? boost in sales. they have it -- >> stock they put it so they looked at the future and said things aingt great. down you go. apple taking preorders for the iphone ten starting today. apple still dealing with production delays, however, with jeff and delays hurt apple's numbers i think we get numbers next week. not only will they hurt their numbers but they have a serious innovation problem with the -- with the ten that they're just bolting on these gimmicks and

convincing people pay $1,000 for a phone. they are rolling out old new version of old product. apple is not innovating and tim cook has a very, very serious problem with with them. they're pretty much catching back draft of the real companieses which are amazon and facebook, apple is in trouble. they're in trouble and in trouble with the ten and not going to gets much with it people don't like gimmicks as much. all about the iphone except service growth could come into help the big deal request this -- there's some conspiracy theorists out there that are saying they're jeaning up the production problem. trying to concern -- soirt big -- apple is doing nothing 156. they're a consumer electronic company. they're not innovation company and if they don't start innovate they're going to decline. >> more than a third so 35% of present apple iphone owners do

not upgrade they hold on to their pone for two years or more so that's a problem for apple. >> let me show you toy maker mattel report a big drop in profits has to do request american girl dolls their sales of the american girl dolls down 30%. they're eliminating dividend stock is up 20% i think it was. that's big trouble from mattel this holiday season. >> it really is stuart you know almost two year ares ago when that -- new pest "star wars" franchise started, we talked about mattel versus hasbro and how it is winning big time in the toy space. it is continuing hasbro is getting drawn down by this but mattel with barbie, hot wheels they still are not going to be able to do anything this holiday season. >> well it was an exciting open to the market this friday morning and glads everybody was with us. dr and jeff, gentleman thank you very much. all gootdz stuff we appreciate it. check that big board now we're down, down 34 points. [laughter]

very interesting isn't it, you've got tech stock going through the roof with the dow is down 30. jordan bell ford he's doing wolf of wall street he built investors out of millions now he's sounding alarm about virtual currency like bit coin, it calls hill the biggest scam ever. he's on the show today at 11:00. more trouble for hillary. big op-ed in "the wall street journal" today says more bombshells on her dealings with russians are coming soon. ♪ alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. fidelity. ♪ can i kick it?

♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone

report this is breaking and important, the parliament has declared indense from spain now what? >> now what? well, the spanish government is is is set to vote early on the

prime minister's decision to impose direction war with on catalonia so what happens next? well i think you can see spanish troops coming into is the streets of bars low that to take over. they plan to dispose of the lead percent disposal parliament take over the police force. civil servants and even local media there's one television station that government could come in to take that over being a game of chicken for some time. but the parliament voting 730 to 10 and up to madrid who has been tough on this. watch this space. maybe that has assented our markets here. i'm not sure of the kx connection but big trouble in the banks that fell for problems here dow industrial on the downside 2025 points even though you have got these blowout numbers and performances for technology companies we're down a little 26 point down. ebay they're releasing a new visual search tool. you can shop using your photos,

all right nicole you've got to tell me how this works. >> how does this work with you go to your friends' house or they have a cool lava lamp and you take a picture of right, you take a picture and say i really want to get that. so when you do with your camera roll you use one of tools that they have this would be image search. use your m imagine, and then they find you either the same thing or something similar because they have so many pictures from so many years. they're able to do that and they have over.1 billion items the other tool is not off your camera roll but off of a blog or a website, and you see a cool whatever, speakers a bag, a lamp and then you can then send that to ebay and share that with them and they use the oh one piengsd it on ebay so those are two tools and then it is yours. i never bought a lava lamp in all of my years. thank you nicole that was need to know thftion. he was.

he was. the latest on the clinton scadgesz looks like there could be more to come. check out this headline from "the wall street journal." this article is written by kimberly the article is titled the coming russia bombshell you better read this joining us now is jason former utah congressman, and u now a fox news contributor i don't to get into the weeds here but you tell us because you were involved in investigation way back when. how much rouble is hillary clinton in now? >> well, everything that hillary clinton and the democrats have been saying about collusion, interaction with the russians now when you get to the actual facts we're finding out that perhaps the funding and the coordination and the collusion was actually with the russians easer the clinton campaign that -- what you have now is the house, you have speaker himself personally involved you have three committees in the house one in the senate all asking for documents and now just yesterday the fbi promising to give

documents to the house and senate investigators primarily they're looking for banking roardz. let's see the flow of cash. >> it seems like the whole thrust of russia, russia, russia, has changed -- i mean for a year it has been donald trump, candidate trump, president trump he's at the center of this russian collusion and this russian involvement. now not reversed but now other side of the coin and hillary clinton and republicans are at the center of the russian collusion have i got that right? >> yeah. "times" magazine puts donald trump jr. on the cover he said red handed. but now the facts come out do you see "time" magazine putting hillary clinton and her team up -- on the cover of "time" magazine? no you don't. if you reverse this out in the way that media is handling it, it is absolutely crystal clear it is absolutely shameful. but we have to let the facts prevail but even election you post now is saying this was

really more with the russians and the clintons than anything to do with the trumps. >> is it possible she'll be indicted? i don't know what documents are going to be released and i don't know the law -- not involved in that. but is it possible that right now we're looking at an indictment or maybe just a few months down the road? >> well, i don't to make that leap and presuppose what the conclusion is going to be. i do think that the brothers are certainly in the sites based on what i'm reading in talking to some people on capitol hill. that group and their interaction now some of this is not necessarily illegal. but if you look at the charges and the drum beat and democratic party and now we're looking at the actual facts, it seems that'll be a whole different game. whether or not hillary clinton herself is indicted, i think that's a huge leap it would have to be so black and white and i think you have a trump administration that is very

reluctant to go anywhere near that direction. >> jason always a pleasure. thank you, sir see you again soon. thank you. >> thank you. check the dow 30 here we are, there's a lot offed red right there. in fact most of the dow 30 stocks are in the red. and we're down 32 points overall. with a medical crisis this is a real shock per from madagascar, more than 120 people died in an outbreak of the plague. the world health organization warning that the plague could soon spread to other countries. doctor marc siegel on that, next. think your large cap equity fund has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses.

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>> we're showing you nasdaq home of technology companies way up this morning. brand new high because those technology companies are really doing very, very well and now this. the plague indeed making a come back in madagascar 120 dead thousands infected the world health organization warning nine other countries in the region that is, could spread to them. doc is with us now lets get this started america is non p not on the list of countries which could take this coming at us right? >> correct mostly up and down the continent of africa some british tourist spots not america. thrfnlgt we've got the list on the screen right there. now u, this is not --

is this new plague two-thirds of the case. >> two-thirds of the cases many plague meaning that it spreads through the air. it is airborne and you're literally have to wear a surgical mask to keep are from getting it. the other third are what people know as the bubonic plague in lymph nodes and under the arm and groin that's -- but this is extremely deadly and we've had over 100 cases die already out of 1200 cases. the plague is in madagascar to begin with but this is three times as many cases as they have ever had in major cities stuart because that's where people are closing together and where flees spread more easily that's where rats are. but it is pass from on airborne, correct once you've got it you can pass it along airborne. >> typically from flees biting you but once you've got it get to flood stream into your lungs for the most deadly part. yes, antibiotics work. antibiotic called genisin but

best way is back in the 15th century which is by public health measures getting rid of the sewage, containing flees and rats. >> i want to talk to you about trump on the open i did crisis he has a system of some ideas on how to end that crisis. but what struck me in his presentation was when he talked about his brother, fred. right from the heart i think that struck you too. didn't it? >> stuart i thought that was heart felt he tacked about he had learned from his brother not to drink alcohol. not to smoke you can see it in his eyes how much he cared and remembered his brother. i want people to know that 0.of opioid abusers are also alcohol abusers so to bring that point up addiction is a disease. here's the point it is more than just a disease it grips the soul it doesn't let go it is so hard to eradicate it and president trump made that point that once you have it, very is hard to get rid it have it is not just some doctor are wave it is away you have a peer to peer counseling even if we get rid it have with

a medication it tends to come back you have to have a reason to life. you have to have a reason to overcome. he said his brother fred had told him don't start. don't drink. don't drink. don't drink. don't get started because once you start, you can have a real problem that went right to the heart. >> you know something stuart i got the feeling watching it -- that his brother had transmitted that life-saving message to president trump but couldn't say himself. that's the problem with the disease. >> indeed dr. thank you very much sir. see you soon the old indemocrats stuck in a time with same old same old tired talking points some of the folks have been in congress for years, decades actually that's the sunt of my take top of the hour and i'll quote bob dylan back in a couple of minutes. >> oh -- [vo] when it comes to investing, looking from a fresh perspective can make all the difference.

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stuart: it's a con job, a slap in the face of the future, says nancy pelosi, referring to the budget. the worst in his 37 years in congress says steny hoyer. democrat leaders who have been in congress for decades seem stuck in a time warp. they can't shake the past. but you know, ever so graduate allly, the times are changing. president trump won big with the budget vote. yes it was a narrow vote, narrow win, the gop is badly divided but it is a win but it opens the door to tax cuts and growth. that's the big change. growing the economy is the heart of the trump presidency and beginning to take hold. that is a shift. democrats are being left behind. mr. trump is actually getting help from the left. where is their growth plan? they have a redistribution plan, straight from the obama playbook but it didn't work then and it won't work now. they have no new ideas. will the media's anti-trump fever ever break?

that is the headline in today's "washington post." the media is always apoplectic media, i will repeat it, will the media's anti-trump fever ever break? that is in the "washington post" today. that is extraordinary. the writer saying the trump-hating "washington post," the trump-hating media, they will not get rid of this anti-trump fever. the writer says they will keep it up. if they do, they will be dismissed as another partisan group. endless contempt for the president doesn't work. mr. trump is getting help from hillary. she is now the focus of attention for election shenanigans. soon we'll find out a whole lot more about russia and the clintons, instead of russia and trump. who would have thought? can congressman, senators heed to the call? do not stand in the doorway, don't block up the hall, for the times they are achanging.

bob dylan. second hour of "varney & company," about to begin. ♪ ♪ ♪ don't stand in the doorway, don't block up the hall, who he has stalled, the beatle outside raging ♪ stuart: historic "varney & company" when bob dylan is playing. but we had to. let's get on to the economy. the times are changing. consumer sentiment for the month of october number. ashley: 100.7. means nothing to anybody. shows very close to what they were expecting. we saw a big drop-off in september. this survey asks 500 households of their month of their financial conditions. are you happy with the economy? basically speaks to the consumer

spending. a solid number, not a blow out but. stuart: it's a good number. it's a good number. ashley: yes. stuart: big tech that is the big story of the day. i will start with amazon. will you look at that? blowout quarter. they're disrupting nearly every corner of the business world. we'll have more on that. look at this for a second. a 10% gain for amazon, up nearly $100 a share. then there is alphabet, parent of google. hitting another all-time high. strong ad sales, especially mobile ads. that is up nearly 60 bucks a share, well above $1000 each. how about microsoft. yeah, play the harp. i'm tired of trumpets. i want harps. all-time high, 85.58. they're making a ton of money up in the cloud, down 8 1/2%. one down stock. mattel, sales down, the american girl down, sales down about 30%. they're getting rid of dividend

as well. that is eight 1/2-year low for mattel. big drop right there. get back to amazon. they are trying to get into the pharmacy business, in response, cvs might buy aetna for $66 billion. that is extraordinary development. joining us christian magoon, amplify etfs he created a fund of retail stocks. christian, you will tell us about the dominance of amazon. that is what i want you to do today. go. >> it is amazon's world and we're just living in. it is not jcpenney's world. amazon invading everywhere. it was books. then consumer goods. potentially your grocery store, home delivery, cloud computing. they're marching on. they're up over 10% today trading in the markets. stuart: i'm told, they will have

what, 43% of all online sales in the united states this calendar year. that is extraordinary dominance. am i right, 43%? >> you're correct, they own the online retail market. they have the biggest market share. remember online retail sales are less than 9% of all u.s. retail sales. so there is a greenfield of opportunity for online retailers like amazon to see their market share go double or triple the next three to five years. stuart: okay. i heard that. are you familiar with the "gallup poll"? they came out with this one. says holiday shopping will really jump big-time this year. people plan to spend close on 1000 bucks each on gifts, compared to $785 in 2016. the big winner this holiday, shopping season, christian, is surely online people, isn't it? >> yeah, should be stuart.

their market share growing at faster rate. brick-and-mortar market share is literally declining quarter over quarter at double-digit rate. that should be a great thing for online retailers. interesting thing from the survey. both democrats and republicans expect to increase their christmas holiday kind of shopping spending by 100%, sorry, by $100. that probably means they're expecting tax cuts. so i urge democrats and republicans to get together to make this tax cut happen for the holiday shopping season and for the economy. stuart: you're talking up your own book. is there anything on the horizon you could see as a really big negative for amazon? >> yeah, there is a few things. the first ownership of amazon, jeff bezos, who becomes the richest man in the world, is going head-to-head with president trump. he does own "the washington post." that has been very critical. amazon is expanding into other areas. that could potentially have some

ftc concerns on monopoly in business practices. their biggest proker -- grower in terms of business is cloud computing. we like buying basket of online retail stocks, not making a bet on one company. stuart: christian, thanks for joining us. see you real soon. thank you, sir. >> thank you. stuart: i want to break in for breaking news. spain's senate approved direct rule of catalonia. did you see in the last hour -- ashley: this was totally expected. stuart: maybe spanish soldiers in the streets. ashley: madrid will take over running of catalonia. they believe the declaration of independence by catalonia is completely illegal and out of rule of spanish law. they will come in, replace the police force. they will replace the leaders. take over some of the civil servants jobs. this is going to be very

interesting. could be very explosive. spanish troops coming into the streets of barcelona and elsewhere in catalonia. how far this goes? we'll find out. stuart: thank you, ash. talking about tax reform, the budget passed the house. however, 20 republican lawmakers voted against it. 11 come from high-taxed blue states. this is about proposal to remove state and local tax deduction, salt as it is called, one of the republicans that voted no, claudia tenney, frequent guest on the program. she joins us by phone. claudia, welcome back to the program. good to hear from you again, my question is very simple, do have to get rid of whole idea ending state and local deductions? is that the only way we'll get a tax cut deal go through? >> well we're going to get compromised on so-called state

and local tax deduction, as you call it, salt. immediately after the vote, high-taxed states met with the leadership. in light of our no vote, they said we'll resolve this problem. number of issues came up. we gave them ideas they have. we're confident that is going forward. stuart: it is negotiating tool, i'm sorry to jump in, i'm trying to zero on salt deal. you say it is negotiating point. you can keep some of the deduction, is that what you're saying? >> yes. remember what is ironic about this, this deduction is typically for higher earners. you have demagoguing democrats screaming about trying to protect the middle class but really salt, because of high taxes, progressive spend policies of the new york state, is something that picks up middle income taxpayers. this is threshold, a higher income base we're going to put a

cap on the salt. we could actually include -- stuart: how much higher? >> we're looking anywhere between 250 and 300. "the wall street journal" suggested 400 to 80, it that may be higher to go. i have 62,000 filers in my small district upstate new york. we think we can catch some -- we're reducing or eliminating the alternative minimum tax, doubling the standard deduction. we'll pick up middle income taxpayers and give them relief. stuart: if you make, if you make more than $400,000 a year, to use your example, if you make more than 400 grand, you then lose the deduction for state and local taxes? >> that's correct. stuart: if that is the case, upper income people will pay a whole lot more than they're paying already, you don't get much stimulus for the economy? >> actually, you look at this way, we're eliminating the alternative minimum tax, what we find out many people don't

realize they're subject to it that is part of the issue. we're focused on protecting middle income taxpayers. stuart: claudia, there is awful lot of republican voters who do make a whole lot more than $400,000 a year and they will not be very happy if they have to pay more in taxes having elected a republican congress and republican white house? >> they will get relief -- stuart: who pays the alternative minimum tax? the lawyers will get you out of that. >> yes. but look at this though. if we can get tax reform, which i promised you by end of the year, those taxpayers will be paying less, they will reduce the overall tax rate. many of them own businesses will be substantially reducing the pass-through income and business rates. so those are going to be huge growth indicators. that will be a huge benefit to my taxpayers earning over that amount of money.

stuart: you come down to the studios in new york we'll talk about this, have a little chat. >> great. i will be there next week. thank you, i'm prepared. stuart: thanks, claudia. >> thank you so much. stuart: check this out. most expensive rolex ever? just sold at auction. that thing there, went for $17.8 million. it is for the rolex daytona. it belonged to? liz: who? stuart: paul newman the actor. it was a gift from his wife, he wore it every day from 1964. liz: wow. stuart: one hollywood producer says the allegations against harvey weinstein, are just the tip of the iceberg. so much so he made a movie about sex abuse in hollywood three years ago. more about that. dennis prager, founder of prager u, suing google and saying that

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stuart: look at the dow industrials, you think nothing is going on, but if you look at nasdaq, home of technology stocks, it is up 105 points. nasdaq hitting all-time low. we have jcpenney all-time low. cue the organs. they're down to $3 a share, 17% lower. retailers in the same boat, macy's, kohl's, this is the amazon effect. google facing a lawsuit from

founder dennis prager, says youtube censors conservative speakers, kicks them out. dennis prager joins me now, radio talk show host. take me through it, dennis. what do they censor? >> they censor everything they consider apparently conservative f a video offends their notion what is right or wrong, i must explain to your viewers who may not know of prager university, we have 500 million views this year. it is largest video maker that isn't on the left in the world. we have, we have four pulitzer prize winners giving courses. we have professors from mit, stanford, harvard, yale. we have liberals alan dershowitz. we are as about respectful, normative, non-intimidating as can exist. we have a five-minute video on all sorts of subjects but they're distinguished by the fact they're not on the left. so that, for example, we have a

video that explains why the united states fought in the korean war. you wouldn't imagine that this would offend google, but it does. they have put it on their restricted list. they have demonetized our videos. meaning ads can not go up in many of these cases. 40 of them out of 240 or 60 that we made. i did one on the commandment, shall shalt not murder. they took that down. stuart: why? what are they saying to you? they have to have given you a reason why they took it all down? they wouldn't say, conservatives get out. what do they say? >> essentially they do, actually. it is amazing to us. we thought they would have some boilerplate response that the algorithm dismissed but, no, we reviewed it, and we find it is inappropriate for children. inappropriate for children that there is a god who said do not

murder. inappropriate for children, that we defend the united states, we defend israel and the arab-israeli dispute. it is, that they took took down alan dershowitz's video. stuart: they are a private company, they have the right to say we don't want your stuff on our network, they have every right to say that, don't they? >> if they had have every right to say it, the lawsuit would be preposterous. they don't have the right to say it. this is brought to us by a law firm of former california governor pete wilson. he came up with the idea. he is big follower of prager university. alan dershowitz supports our lawsuit. can delta air lines, united airlines, say, dennis prager you can not board our flights

because you have a conservative talk show? that is private entity, american airlines. can it say that? no. everyone of your viewers knows that. just because you're private, you are a public forum. google should do the following. google should simply be honest. we will only allow left-wing ideas on our search engine. then, there can't be a lawsuit i would imagine. you're a left-wing organization. don't lie about being a public forum. stuart: do you want to see the day come when everything is allowed on it, apart from child pornography? everything is aloud on because it is free speech, would you like to see that? >> parents can have private filtering systems and they should. you see, this is the issue. i am not a all-or nothing person. most americans, most thinking people are not. we understand that there are, there are limits obviously. if somebody says, i would like to, i with like to burn all jews again like hit le did, it is

understandable did that might not be on google. though as a jew, i will tell you, i think just about everything should be allowed with, if you will, warnings or, whatever whatever necessitated. america thrives on the notion of free speech. that is the occur belief. stuart: it is. >> once united all americans. stuart: i'm with you all the day, dennis. i wish you the best of luck with your lawsuit and with prageru. you're a good man, dennis. >> thank you. stuart: good man. breaking news, reports that president trump is likely to pick fed governor jerome powell to be the next fed chief. the dow is up 10 points. liz: more like janet yellen. he is in line with janet yellen. markets like that. he does not like overbearing bank regulation too. stuart: that is the report we're getting, jerome powell, not

confirmed. liz: that's correct. stuart: what we hear. the market is up a fraction on that. look at this please, mickey mantle, rookie card, 1952 up for auction what do you think the bid would be for auction? what do you think. liz: i'm not going to look. stuart: $52,000. 1952 rookie card. president trump releasing new documents on the assassination of john f. kennedy. emac has been following it for decades. she will bring us the scoop in a moment. stay right there, please.

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which makes me one smooth operator. ah! still a little tender. (vo) go national. go like a pro. yes or no?gin. do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online. whentertaining us,es getting us back on track,hing? and finding us dates. phones really have changed. so why hasn't the way we pay for them? introducing xfinity mobile. you only pay for data and can easily switch between pay per gig and unlimited.

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dallas police that he could be killed. big news coming tip off of something was coming, to the british newspaper, the cambridge news reporter there. also things like cia was, thought that oswald was castro's agent, and that the cia wanted to hire mobsters to kill castro. rfk, robert kennedy, was warned about a forthcoming book about his affair with marilyn monroe. the cuban cast cothing, with oswald, decades covering this i was at "the wall street journal" in the mid 90 as. i did a story that jfk was auditing lee harvey oswald's group, among other committees and right-wing groups. audit earnings conspiracy theories are not dead. liz: more files coming down the road. stuart: next up tax cuts, we're all over it. coming back for you.

♪ stuart: the producers are trying to get on my good side playing a lot of beatles this friday morning. ashley: is it working? >> easy to do that with microsoft at a record high. check out the big board, virtually no change. three, five points higher. that's all you got. look at the big tech names please. look at facebook. they don't report until next week. the stock is up close to six points, six bucks. 176 on facebook. amazon, all-time high. microsoft all-time high. of alphabet up $64. apple, up mere $2.89.

it is a rally for technology, we'll leave it at that. merck dragging down the dow. it is a dow stock. reported a cyberattack hurt sales to the tune of $135 million. that is down 4%. that hurts the dow. tesla, down 2.6%. less than that. 2%. it has a downgrade. one company says it has cautious view of model 3 production. tesla back to 319. let's get back to tax reform. tammy bruce, fox news contributor is with us please. tammy, handicap this for us, please. 20 republicans said no to the budget. said no to various things. will they turn around when they get the tax package from congress? >> that representative 10 any was very good earlier on the show. very interesting with the compromise they may have found which is they will still have the deductibility for the state

and local taxes but at a higher level. this is important. i spoke with rnc committee woman based in california, because they have the same issue. high taxed state. they like this idea of dealing with that, making it also more apparent to people in states that their taxes are high. instead of dealing with distributing the way across other low-taxed states, the taxes there, maybe it is time, and andrew cuomo, the governor of new york tweeted new york will be destroyed if deductibility much taxes is included in any final tax plan. maybe that means new york taxes need to go down. stuart: fair point. >> if it is high earner people affected, then they become more involved at the state level as well. it will be less of an impact if any really, on the middle class. it will be a -- stuart: it will be a huge impact on upper income people who currently pay all the tax wait a second, claudia tenney, republican new york, on this program earlier today said

they're trying to work out a compromise of the deductibility of state and local taxes. >> the rate. stuart: she suggested, oh, you get the deductibility all the way up to $400,000 a year, but after 400 grand, all the state and local taxes you pay will not be deductible. which means you have a great big whopping extra tax bill for anybody that makes more than 400,000 doll bucks a year and lives in high-taxed state. >> if you ameliorate tax that affects those people. stuart: nobody pays it. you have a lawyer to avoid that. >> at least it can be dealt with at the state level. stuart: no, it can not be defended at state level. you think california, new york, new jersey, connecticut, illinois, you think they will say, oh, we have to reduce our taxes, we have to do it. they will never say it. >> if andrew como says it will be destroyed this is where you have to start. otherwise taxes go up. the bigger issue is the 401(k), my california person.

issues regarding 401(k), that deductibility and those rates. those are concerned about. that is dealt with exclusively at the federal level. stuart: that i see. >> this is the negotiation, and where you find the balance. remember, this, you don't just get one bite at this apple. you can continue to deal with it as we go along. they recognize, tax cut must occur, everyone understands that. and i think the 10 -- tenney answer is good one. stuart: you're totally wrong, tammy. >> we'll see how it falls out next year. stuart: i believe i have more for you. first i want to bring in republican congressman bill johnson. he is from ohio. congressman, i don't know whether you've been listening to this, there is high temper being expressed on this program because, because if you're not allowed to deduct state and local taxes over, over $400,000

worth of income, upper income people, who voted republican, will be paying a ton more in taxes. they won't get a tax cut. they will be paying more. what do you say to that? >> well i think you have to wait and see what is going to come out at the end, stuart. this is a work in progress. i think someone said, just a few minutes ago, this is not just one shot at the apple. we're going to see the bill next week from chairman brady. the markup is supposed to start on november 6th. you have to look at tax reform package in its entirety, not just one element of it. i would encourage everybody to keep an open mind. what we do know, american people, low, middle income, hard-working families need tax relief. we have to work hard to deliver that for them. stuart: don't people that pay taxes, top 20% of income earners, don't they need tax relief? they will not get tax relief,

live in high taxed state. you no longer allow them to deduct state and local taxes. they will pay more. >> i think the president made it very clear yesterday, in a statement that he made, that he is willing to take another look at the state and local taxes. i live in a state, here in ohio, that has state and local income taxes, and so, the people that i represent would be hit by that. so, i think that is something that we can look at. but again, we have to look at tax reform, tax relief, package, in its entirety. stuart: how about the 401(k)? that raised a lot of hackles. the idea you might restrict how much money you can put in, restrict the tax break. you have to get rid of that, that is classic middle class tax cutting. the 401(k) is the absolute key to middle income, middle class people and their private retirement. you can't touch it, surely? >> absolutely.

wee have got to make sure whatever we deliver has got to encourage the american people, especially people in appalachian areas like i represent where many of them won't even pay any taxes, stuart, because the doubling of the standard deduction. but the 401(k) is an important issue and i'm looking forward to engaging in that discussion. we'll see what comes out in the actual package next week. but it's a work in progress. stuart: yes, sir. i meant to get to the opioid crisis, i know, ohio, your state suffers mightily from it. i do apologize for moving on quickly, you got my temper going with the tax cut deal, i insisted concentrating on it. come back real soon and we'll talk opioid crisis. >> i would love to. stuart: appreciate, sir. stay on politics. the president had quite a big win with the budget deal. the mainstream media, can not and will not acknowledge it.

there is an op-ed in today's "washington post." here is what it reads. will the media's anti-trump fever ever break? that is interesting. that is the "washington post" admitting in the media there is an anti-trump fever. the right suggests, no, it will break. the media will be become second level partisan politicians. the host of "the blaze," lawrence jones is with us right now. do you think the media will ever back off from their hate fest? >> no and it is interesting i was thinking they would show some type of credit considering the amount of democrats that voted for this legislation, but you know what? i think the media has an agenda right now and they choose to be a part of the resistance. stuart: they are the resistance. they are very much part of it. that is what the "washington post" -- i was surprised that "the washington post" admitted that in its op-ed. >> right, right. we're reaching a point even with

jimmy carter is admitting this, all bets are off. everyone knows it. it is pretty much a fact. people should also realize there are some republicans that didn't get everything they wanted out of this budget as well, but you know what? we went somewhere this time look, i would like to see. i'm a libertarian. i like seeing a balanced budget amendment. i know i will not get that. to see them have a plan to increase the deficit, cut some spending, i thought that was great. stuart: okay. i want your take on this. here is what the president said in response to billionaire tom steyer, who is trying to impeach him. here is the tweet from the president. whacky, totally unhinged tom steyer, who has been fighting me and my make america great agenda from the beginning, never ever wins elections. that is red meat on the table

for you. take a big chew. >> i don't have a problem with the president's tweeting. sometimes i feel like he steps on his agenda, but when you're going after these elitists, i think this is what the american people wants to see of the you know, he is no different than any other president. he just says what he is thinking. he tweets what he is thinking. so i think there is a certain refreshness about him, in the sense that a lot of americans just want to cut through the bs and see what is actually happening. stuart: do you think we ever get used to him, lawrence? >> i think the american people are getting used to him. i don't think the press is getting used to him. all these people are in a bubble and they're so used to this stuff happening behind closed doors. this is not something thaw typically do. i will tell you this, stuart, i've been around a lot of these politicians and a lot of these personalities behind closed doors. they are worse. they just hide it from the people.

stuart: tammy, do you think we'll ever get used to him? >> i think so. this is a dynamic where the american people already recognize this man because it es more of reflection of nature of a regular person. so i think it is about getting used to things. it is about getting used to it, suddenly we see ourselves. we see some level of transparency and that is clearly refreshing for people. stuart: hey, lawrence, i'm afraid i have got to go. thanks for being with us this morning. >> thanks, brother. stuart: you come up to new york, and sit together behind closed doors, see how i really am. thank you, lawrence. coming up the real "wolf of wall street," the man who scammed his clients out of millions. he is issuing a warning about bitcoin. he says it's a big scam. he will explain. he is is with us next hour. the accusations against harvey weinstein apparently the tip of the iceberg? so says one of our guests. we're all over this one. back in a second.

♪

♪ ashley: for the past year the media has been accusing president trump of colluding with russia. now the clintons are at the center of a russian scandal. guess what? the media is quiet.

former congressman jason chaffetz weighs in on that. roll tape. >> "time" magazine put donald trump, jr. on the cover, said, red-handed. the facts come out. do you see "time" magazine putting hillary clinton and her team, the podestas on cover of "time" magazine? no you don't. if you reverse this out, look the way media is handling it, it is absolutely crystal clear, it is shameful. we have to let the facts prevail. even "the washington post" is saying dossier was with more than the russians and clintons than had anything to do with the trumps. ♪ the most dependable dependable dependable trucks. built to last a long long time. with durable durability and rugged ruggedness. i like the extra power hauling power maxi power!!! and quality. seems they make them strong

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stuart: lots of big moves on the market including expedia, down 17%. it made less money than analysts were expecting. it is down 25 bucks. that is 17%. how about netflix, the hit show, stranger things, back for a second season. i'm told this is very important. a lot of our people on the show will be -- quiet. binge watching this all weekend. netflix, 197. hire is another story we follow closely, the demise of harvey weinstein, one of the elitist left in hollywood. they're trying to keep their distance from him now.

our next guest says this is the type of the iceberg, gabe hoffman. he is producer of "an open secret." >> thanks for having me, stuart. stuart: your expression, tip of the iceberg. quantify it. is this happening all over hollywood? >> sure. you heard about tyler gresham. he is the harvey weinstein of young boys. stuart: pedophilia? >> underage boys. he is a big agent. a lot of stars been on shows. it is interesting you hear about some of these big stars that are coming out, it is wonderful, jennifer lawrence, reese witherspoon, talking about under age with these predators but you don't hear about the kids. you hear about them in our film. stuart: that is an open secret. >> yes. stuart: your film is about preying on young boys? >> absolutely correct. pedophilia in hollywood. we had over two million views since we made it free. film hollywood didn't want you to see. stuart: have you put out names of people?

>> absolutely. in "an open secret." we get them to unmask, one of the biggest child talent agents, coaches in hollywood, last 30, 40 years. stuart: all this is being revealed now. it is all coming out now, thanks to you, your movie and others who are coming forward. am i going to still get moral lectures from hollywood when i watch the oscars next year or the golden globes? i'm not being facetious? it's a fair question, frankly i'm sick and tired of it. keep seeing it? >> i totally agree with you, but what we should really see some hollywood stars come out to start talking about how hollywood better protect children. get convicted the pedophiles offset, that worked on charlie sheen's anger managements. or. actually convicted pedophiles working in hollywood. stuart: why is hollywood so left of center?

keep dragging this back from politics away from your movie, but i'm intrigued. i don't understand why this whole group of very well-paid people so far on the left consistently? >> seems like the laws in socialist republic of california are part and parcel. for example in our film we show victim who got his predator on tape, got a plea deal. multiple counts. guess what? he served six months in prison. stuart: that's it? >> yes. stuart: your movie is called "an open secret." >> correct. stuart: it is not in movie houses or cinema. where is it. >> free on-line. on social at open secret. facebook is free until october 31st. two million people watched it. hollywood didn't want you to see it. they blocked distribution. we were waiting for harvey weinstein moment to release it for free. stuart: why did you release it for free? you spend money on it.

>> we didn't have to rely on hollywood. i've been blessed as successful as fun manager. stuart: wait a second, that is your background? >> yes. stuart: you're a financial guy? >> totally. stuart: ran a hedge fund, something like that. >> i was youngest hedge fund manager on wall street 17 years ago. still going strong. stuart: how old were you then? >> 23 years old. stuart: now you're 40. you so you made a ton of money. >> successful. when my coproducer brought the topic we had research. oscar-nominated director on same topic, amy berg, catholic church, "deliver us from evil." got 93 rating on rotten tomatoes. positive reviews from liberals like "new york times" and variety. film festivals wouldn't let us in. stuart: you have a uphill battle. very pleased to have you on the program. the movie again is, "an open secret." two million views already. free until october 31st, do you say? >> correct. stuart: gabe hoffman. thanks for joining us. we appreciate it. >> thank you for having us.

stuart: yes, sir. colin kaepernick, reportedly set to face nfl owners next week. he will be involved in a meeting with them. this is all about the players kneeling of course. former nfl quarterback joe theismann joins us on the program in the next hour. we'll be right back. ♪ is this a phone?

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ashley: tiger woods expected to plead guilty to reckless driving and enter a dui program. phil keating live at the courthouse in palm beach. >> he didn't show up in court back then but at 1:30 he is expected to show up in person for that reckless driving case. he's expected to plead guilty to the reckless driving charge and the court will shelve the dui as long as would abides by all the requirements in the first time dui diversion program or it simply goes away. wednesday night woods was in los angeles at dodger stadium pregame 2 of the world series.

and palm beach county, florida, has had this for four years, the first time diversion program and any resident can do it popping into that. legal experts say not getting any special treatment for who he is. at the end of may, sheriff deputies pulled up 3:30 in the morning, he was parked on the side of the road in his mercedes and was asleep. during his roadside sobriety tests, slurred, couldn't walk a straight line, then taken to the station where he could barely keep his eyes open and struggled to blow into the breathalyzer. it is a fine, to perform multiple hours of community service, he had no alcohol at all in his system but the toxicology test shows that. ashley: a very disturbing video

around the world. thanks for the latest on tiger woods, expected to plead guilty to reckless driving. kevin brady, house ways and means chairman a big guy, with us next hour. lots of questions for him, don't go away. >>yeah, 5 years already. 5 years, hmm. you ever call your broker for help? >>once, when volatility spiked... and? >>by the time they got me an answer, it was too late. td ameritrade's elite service team can handle your toughest questions right away- with volatility, it's all about your risk distribution. good to know. >>thanks, mike. we got your back kate. >>does he do that all the time? oh yeah, sometimes he pops out of the couch. help from real traders. only with td ameritrade. ♪ ca♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone ♪ can i kick it? ♪ to all the people who can quest like a tribe does... ♪

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ahhhhhhhh! you know what's easy? building your website with godaddy. get your domain today and get a free trial of gocentral. build a better website in under an hour. stuart: there is a must-read article in the wall street journal today. the title, the coming russia bombshell by kimberly strawser. read it and understand wife here runs deep in democrat circles, bad news is coming. we know the clinton campaign and the dnc paid for that dossier from russia. we will find out more when we see the dirt figures being fusion gps. did they pay russians? did them is democrats and clintons instigate the russia

story? should get those bank records soon. there is an fbi bombshell or two as well. did they use this dossier is the reason to go after trump? didn't they know it was bogus? if they didn't know they have been had, if they investigated trump on the basis of a bogus clinton democrat inspired dossier, they have indeed been had. who at the dnc and clinton campaign signed off on paying for the dirt. they claim they knew nothing. i know nothing but the names will be revealed and that will be another bombshell. a few months ago the trump camp was playing defense. democrats were talking impeachment and hillary was blaming russia for her loss, times change. trump is now on the attack and hillary is playing defense.

just wait. those bombshells are coming and coming soon. the third hour of "varney and company" is about to begin. >> you didn't know that. let's get to my take. and the beginning of scandals from the clintons. without getting into the nitty-gritty, the weeds here, seems to me there is a challenge coming for the clintons, reversing the tide of politics, trump was doing it with the russians. it is now hillary was with the russians. >> interesting the change has occurred.

it is also interesting to note it was not created in the same way. and and the habitat is very much aware of what is going on. it strengthens me that there's a lot to be revealed and the uranium deal. and hillary clinton had to approve the deal, a lot of money was given to the clinton foundation by one of the people who is the beneficiary of this arrangement. one has to wonder what is going on in politics today and is greed so significant that everything else is overlooked including wealthier americans. this is like lenin towing the rope to the united states will be used to hang them. stuart: is the media jig up, they refuse to cover what is an

obvious interesting big news story? they are losing credibility. >> you have exactly right. >> most people are cynical about what goes on in congress and among members of the press. by and large people are saying i scratch my head, don't believe these stories it every time i read a story. who is that fellow. it was always about me. stuart: you could be the subject of controversy. >> when i ran for governor or mayor. stuart: we didn't know that. treated you badly. stuart: stay there. got more for you. check the big board. not that much, we are up 13 points. the nasdaq, look at them go. this is the story of the day,

amazon was up $10 a share, 11%, and alphabet $56, that is 7%. scott shellady coming to us from london. these are huge gains. is that the basis of another leg up for the whole market. >> for the next 5 to 10 years, and this is where america will innovate and create wealth. and that is where we need to be to enjoy the fruit of america's labor going forward for the next few years, that is where

they are going. and those, it is on the stocks, and a base going forward. >> >> i want to ask about development in spain. they declared their independence, and sees back control, of catalonia. and and does this affect our money in any way shape or form in america? >> these eventss, the transferred nancy. we see sometimes these

outliers, rocks the market. you can't make a girl fall in love with you. they will come in with jackboots, and and look what is happening to the euro. that is what the rest of the world thinks about. to see the euro we can it could be good for the us. we will see what happens but this could be another factor, to ripple across the us academy. >> we can see that going on in your. >> the trends we have seen, and catalonia is in many respects a far more industrious than the rest of spain.

the catalonia and are tired of paying the bills. >> >> catalonia is in part of spain and the us government constitutional measures to keep spain strong and united. it is backing madrid in his argument. stuart: this is more backdrop to the market, the economy grew at an annual rate of 3% in the third quarter. that is a strong number considering the hurricanes that occurred in september. this is pretty strong growth despite those hurricanes. were you expecting this? >> i wasn't expecting it to be as strong as it was. the pce, would have been happy to see, you know me. i like to see a couple, three month in a row, decent numbers, gdp has proven to be the real deal, you see the dollar get

stronger, that trickle down through the economy. i'm happy to see that. labor participation rate and gdp, it is alive and coming back. that could be the second leg higher. stuart: that is what i am looking for. thanks very much indeed. i have a jampacked hour just ahead including my interview with kevin brady. the man who runs the house ways and means committee, that man right their rights the tax code. he is on the show shortly. zar: one of our investors was in his late 50s

right in the heart of the financial crisis, and saw his portfolio drop by double digits. it really scared him out of the markets. his advisor ran the numbers and showed that he wouldn't be able to retire until he was 68. the client realized, "i need to get back into the markets- i need to get back on track with my plan." the financial advisor was able to work with this client. he's now on track to retire when he's 65. having someone coach you through it is really the value of a financial advisor.

stuart: let's get at it. breaking news, sources tell foxbusiness jerome powell is the president's preferred choice for said chair. and announcement expected next week. will there be much impact on the market? it moved a fraction higher. i want to get to the nfl anthem protests, several stories on

this. colin kaepernick will attend a meeting next week with players and owners with a new foxhole shows 46% of voters have a favorable opinion of the nfl now. four years ago it was 18 points higher. the super bowl champ and nfl legend joins us now. do you think this decline in popularity of nfl football is a direct result of the anthem protests? >> i don't know it is the direct result, good to be with you again. it definitely has had an impact on viewership in the national football league, saturation of games thursday night, sunday night, monday night, so many opportunities to watch the nfl, had a little bit of an effect as well. kneeling for the national anthem. so many people out there are opposed to it as i am. it is disrespectful to the flag and the men and women who fought to defend the freedom of

our country but there is a bright light going forward and that is the owner of the san francisco 49ers who has started a movement to create opportunities where police, union representatives, community representatives can meet and start to go forward. time for the guys to get off their needs because they made their point. stuart: there is a way forward, a way of getting out of this but doesn't look like it will take effect in the immediate future. do you oppose a hard line by owners who say if you neil you don't play. >> it is impossible to answer the question. they can to do it anyway, you have the freedom to be able to speak, that is the catch 22. when you neil when the national anthem is played the national anthem stands for the freedoms we have in this country which is one of them being able to voice your opinion through your actions or voice. when an owner says you can't

play if you neil you opened a can of worms you don't want to go into, that is something you don't need to. i think jed york has the right idea, let's sit down and try to make a better america, safer america. to me, i found it wrong, a tremendous amount of presentations, talk about the flag and where this on my lapel for proudly. i believe in america, the people that thought independent freedom is. to neil is disrespectful. and an opportunity. stuart: i see the big winner at this moment. and we see all this enthusiasm by these youngsters, a massive crowd through the game, they won, we are winning. e.e. do you

atat t theollegiatatat level, the professional level they are affectedsorslookininininininin ouldldldlde stay involved, let talk to the ns, give people money if they don't want to watch, you don't see that in college football. everybody gets excited about college sports, i certainly do. when notre dame beat usc, a wonderful day for me. stuart: honored to have you on the program. something more positive. >> suspended, after grabbing a

referee. being tackled by members, and violated state rules, not allowed to let grown men who are not students hit or get hit by students, more trouble. we have this historic world series memorabilia, how much would you pay for 1952 mickey mantle rookie card who is astonished what the price is going to be. we are joined by the top taxman in the house, kevin brady. don't miss that interview, it is important, modest gain for the dow, 23,419. ♪ six in the morning.

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>> the collection -- dena collection, it is known as the pawnshop to the stars. hillary von is there. what do you have for me?

>> i have over $1 million of diamonds on me, i have a 12 ^ ring, over $3 million, here you can have it for easily less than half of that. these earrings were worn by debbie reynolds, $320,000, look what else they have. this dress, still in the process of authenticating, worn by marilyn monroe, over $1 million, this jacket has been authenticated, this is easily a couple thousand dollars at option. these shoes worn by lady gaga, these -- this is his favorite item he owns, not for sale, bubblegum pack worn by tom hanks, something he says isn't for sale, he cares about it. stuart: i like the prices. who would you believe you pay

hundreds of thousands of dollars for that stuff. we appreciate it. he got stuck in traffic the other day. he is in new york with us. the real wolf of wall street, bit coin is the biggest scam ever. he should know a thing or two about that. kevin brady on "varney and company" very soon. stay there for that. ♪

stuart: technology is the story of the day. it is $161 a day, $4.30. it is saying the initial response for the iphone 10 is, quote, off the charts, it is available for preorder starting today. the stock is up. look at the other big tech. there is a rally. amazon is up $115 per share. jeff bezos is the richest man in the world. he has a big chunk. >> $91.6 billion. alphabet is up $56, microsoft is up, huge gains, 3 gigantic

tech companies. and 20 points, i want to update the catalonia situation. the state department, hold on a minute and we support a united spain. don't like this independence in catalonia. >> they are going to move toward independence, it will be an ugly scene, the police and military troops are obliged to bring the catalonian's into spain. a separation occurred for 500 years in real terms. they are thinking they are different from the rest of spain. it is interesting to see. beginning of the unraveling of the eu. stuart: will we see troops? ashley: in spain, madrid, troops back in earlier this

week. times come up, the catalonian's, a rich area of spain, a share of taxes, they pay too much for what they get in return, story word in northern italy and elsewhere in europe a. stuart: their turmoil not affecting our money over here, that is the bottom line. our next guest says bit coin the biggest scam ever. the author of way of the will, the original wolf on wall street, big smile. that is a restatement, a huge scam. why? >> it is what has happened to it, the trading of bit coin, the fever pitch, they know nothing about what they are buying, someone is more foolish, a higher price, there

is no value, pure speculation and promoters, salespeople pumping up in boiler room operation this, and even worse, the ones, the imitators, very cheap. stuart: the others are called initial coin offerings. different from bit coin. >> $6000 so first it is going to double. the cheap ones go up 700%, people just collapsed down. eventually regulations have to come in a massive way and the us passes a law that limits the ability, buyer owns, just crashed. that is my concern. stuart: into the simpler question. if i buy a bit coin, put my dollars in, the value of bit coin goes up, can i cash it in for dollars and get the dollars

back? >> yes through a mechanism, we have to go through an exchange. i'm really independence, watching what is happening. reminds me of 2005-6 in the mortgage market, when getting a haircut. also sell mortgages now. everybody and their grandmother became involved in real estate mortgages. it is not at the top so couldn't go higher but in the end after enough people can't support the bubble it will crash so hard unlike real estate where there is real value, that number is going to be a lot lower than it is now. stuart: check this headline from u.s. news & world report, why are we still listening to jordan bell for? you want to answer the

question? >> when it comes to things related to business in general, i have been on both sides of the fence, done things right and wrong, when i did things wrong, my firm was real, i had real business, got greedy, made mistakes and hopefully learned from that and my goal is to help other people. stuart: will you -- that is what you were doing -- you could make the accusation, people selling these new bit coins are doing the same thing. >> plastic pump and dump. how you would sell is easy, call people and say what, right? get people excited, two parts to manipulation. one is to create demand. the second people people don't focus on his withholding supply. a little about into the

marketplace, and then say release a big chunk at the top and it collapses. someone has an ipo, this is happening, they will take a large portion of the ipo and put it in friendly hands. some energy in the marketplace which trades back and forth, not a lot out there. a limited supply, that phase, they unleash into the market, make their money and walk away. stuart: herb london, would you touch a bit coin with a 10 foot pole? >> yes i would. they are all corporate transactions that exist in a narrow framework. within the narrow framework of those corporations you can recognize the basic value, it

makes sense. a lot of transactions take place with bit coins. jordan is correct, if you're talking about the average consumer doesn't make sense but if you are talking about the kind of transactions in the corporate world, this introduces a degree of transparency that often does not exist. if i asked you about transparency and hedge fund world it is rather arcane. >> the point he is talking about, a dark market will always have problems, not transparency. my point is not the fundamental idea of crypto currency is bad. what has run amok is people using it for speculation, it is not sophisticated players but making their fortune, life savings into bit coin, it will run up and if you want to install tulips, the same thing all over again. stuart: good debate and it is not over and we will continue it. thanks for joining us.

now this, donald trump signing an executive order loosening restrictions on drones. drone warrior arthur eh, straighten me out on this. you were in the military, drone pilot in the military, now you have the use of drones in ordinary civilian life and the president opened this up to more expansion. will this work? will we see more drones? >> what the president did, created tens of thousands of jobs and generated hundreds of millions of dollars and that is huge. the technology sector should own the drone space and they haven't been able to do that because of the regulations from the administration that force these companies to go overseas,

amazon is up today, another reason to rejoice, what this policy does is pays the way for companies like amazon to create these drone delivery programs and test them in the us. these companies had to go overseas, amazon tests these in the uk and test a project in australia. domino's pizza in the us, go to new zealand's, it allows, and help the economy. stuart: what kind of drones will we see? military drones, what about commercial drones in america? >> we don't need any drones with hellfire missiles but we need things that can enable the private sector. we talk about drones for commercial purposes, giving people the tools to do their jobs better and that is what drones are able to do.

people act with light payloads, package under 5 pounds or applying an area that has less airspace to complete some specific job. a lot of drones being used for humanitarian relief. we will not see this big military hardware but a significant increase in money pumped into the sector. we dominate the military drone space but focus on that for too long, the chinese are crushing us when it comes to consumer drones. a lot of this restricted regulation. 2.1 million drones were sold in the us alone, 80% made by chinese firms because we had a difficult time creating innovation because the fdh is a discussion of renovation and we see that was donald trump's a

new memorandum. >> when i see my first commercial drone in america? >> already seen it. i hope one day we are doing this interview via drone so i don't have to come into the studio. we will definitely see the day packages are delivered to people's homes with the drone. stuart: appreciate you being with us, see you again soon. we will have this historic world series memorabilia on the set, 1952 mickey mantle card, historic picture of babe ruth, and 1988 dodgers world series ring. dodgers are in the world series, 88 was last time they were there. my long-awaited interview with kevin brady, he is next. today, the new new york is ready for take-off. we're invested in creating the world's first state-of-the-art drone testing facility

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nicole: i am nicole pedallides, the wave of the future checking out walmart, bringing in new robots to scan the shelves, restock the items, sitting with cameras, checking stocks, identifying misplaced items, the company won't reduce the head count, according to the

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stuart: the s&p 500 index just hit a new all-time high, well above 2570. then we have alphabet formally known as google, the self driving car unit will start testing self driving cars in the detroit area. that gary is usually hit with snow and ice, they want to test the cars in, the stock is up huge but that has nothing to do with self driving cars, but because of blowout earnings. let's bring in the man of the hour, in charge of writing the tax plan congressman kevin brady. great to have you back. what's this about changing, messing around with 401(k)s? that is wildly unpopular? are you going to touch it or get that proposal out of here?

>> here is what we are going to do? we are going to strengthen 401(k)s and make them bigger. we are also, beyond that, working with the president on exactly those two areas and looking at ways we can help americans save more and save sooner and here is the problem. those 401(k)s, most people saving $200 or less a month. that won't do it in retirement. they are going to be in trouble so we are asking experts how can we help these families save more, we are working to reach a good solution. if not, we will leave them as they are but i think we can help people save more and earlier in their life which is really key. stuart: the other big issue is state and local taxes. at the moment you get a deduction for paying state and local taxes. the proposal is that deduction

goes away. you can hear the screams from miles away from republicans who live in high tax states. i'm told there is a negotiation going on, that it won't necessarily get rid of the deduction but will restrict it. give us the state of play. >> it is important we help americans keep more of what they are and regardless of where they live and we are very cognizant that some states and communities stock local taxpayers and it is hard for them. we are working with local law let acres to find good ways to help people keep more of what they earn. keeping help for home mortgage and charitable credits, keeping them in place for families but going beyond that to find ways to help with those taxes especially on the properties side. we don't have a solution, we are listening and working but i'm hopeful before this tax plan goes to the floor we found

a good solution with lawmakers. stuart: the republican of state new york, talking about a compromise on state and local taxes. you get the deduction up to an income of $400,000 a year, above 400,000 you lose the deduction. that would murder upscale higher income people who live in new york, new jersey, connecticut, massachusetts, your voters, high income people would end up paying more of it is above 500,000 that you lose that deduction, what do you say? >> i don't believe that is the case but here is the first point. that proposal is one of several we are discussing with others, don't forget we are lowering

taxes on all americans at a number of different levels. we know as we work with lawmakers that if you couple lower taxes, bigger child tax credit and work to find a compromise on state and local we can help americans in every bracket keep more of what they earn and that is where we are trying to find that common ground. stuart: nancy pelosi's is 81%, 82% of the tax-cut will go to the top 1%. your comment? >> no. they are making it up. this is why. they haven't seen the plan. they are just pulling numbers out of the air and at the end of the day they are so used to parroting tax cuts for the wealthy they don't have anything else to say. what we do know from john f. kennedy and president reagan working with democrats, if you do top to bottom tax cuts, help people grow their paychecks, get the economy moving americans are better off at every income level, that is what we want. stuart: orrin hatch says we

might not get the full repeal of the estate tax, full repeal as part of a plan. where will that end? >> from the house standpoint we think the death tax is the most un-american tax in the code, the number one reason family-owned farms and businesses aren't passed down and getting rid of it will create 140,000 new jobs in america. we believe it is time to end the death tax once and for all, death should not be attacksable event and we want to see the economy grow more. stuart: you will ruin the business of estate tax accounting. when we get details on the tax plan next wednesday. >> that is where it comes from. you will see the details on the tax plan, good summaries, there will be more in this regard. we look to make improvements at every step. the tax plan for the american public, we will begin

immediately, make changes, improving it. we are republicans, we try to improve these things every step in the process so it is historic. in the next two weeks we begin this big challenge. stuart: kevin brady, congressman, house, ways and means committee. you are the man of the hour and we appreciate it. world series memorabilia, stay right there. ♪ ♪ take me out to the ballgame ♪ take me out with the crowd ♪ you know who likes to be in control? this guy. check it out! self-appendectomy! oh, that's really attached. that's why i rent from national. where i get the control to choose any car in the aisle i want, not some car they choose for me.

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stuart: this is a good one. ken golden is here with some items, memorabilia with him. let's go through this. 1917 autographed chicago white sox baseball. >> two years before they through the world series they actually won blue shoeless joe jackson come all eight men out, the eight conspirators on the baseball. the current bid is 90,$000 and we expected to go for a quarter million dollars plus. this is signed and dated from

game 6 of the world series, the final out ball. stuart: incredible. that is a 1988 dodgers world series ring. >> a staff member answering of 1988 world series, last time the dodgers won the world series, we expect that to go in the $15,000 range. stuart: you have a bad right there. it is signed, made a home run. what is the significance? >> anytime you get a player's bad for a home run, three great years, look for a future hall of fame or in the $4000 range, that is all? here is one i know about. 1952 rookie mickey mantle cards. how much? 7.5 current bid is $72,000. stuart: $72,000? >> $72,000, we expected to go

for 125,000. >> is that wishful thinking? >> we sold one of these for $400,000. stuart: a baseball card? >> we sold the wagner for $3.2 million. stuart: last one. historic photo. i will hold that. historic photo, babe ruth and his dad in his father's tavern in baltimore. >> december 1915, one of three original photographs, the highest quality called roots tavern. his family's tavern, everyone thought babe ruth was an orphan. is a little bit is 19,000, we expect this rarity to go over $50,000. at golden auctions.com. the auction is on right now and it closes november 11th. stuart: tell me again.

>> golden auctions. i love you, stuart. stuart: serious money for a photograph. >> $17 million for paul newman's watch. what people spend uncollectibles and the bigger their name the more -- talking babe ruth in sports, there is nobody bigger. enough. >> thank you for having me. stuart: more varney after this. ♪ ♪

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proud to be an american where i know i'm free ♪ stuart: that song, "god bless america "by lee greenwood. president trump tweeted out.

your beautiful song made such a difference. make america great again. the singer lee greenwood will join us november 6th this year. he will be back on the show. my time is up. regret bring it's a friday. neil: kevin brady laid it out for you. 401(k)s are on the table. you will have to deal. stuart: may be compromise. they're still on the table. neil: unwritten story you got to it, if you're in upper income you weren't expecting a tax break, but you are now looking at very likely a tax hike. stuart: looks like it, doesn't it? have a nice weekend. neil: we're on top all of these developments. s have a world away, we look at countdown in this country at tax cuts. spain, catalonia, probably one of the richest provinces if you want to call it that in all of western europe, the old