great to see you thanks for having us. dagen mcdowell mary, have a good day. >> happy women eetion day. right on. >> "varney & company" begins now. stuart take it away. >> we will thanks maria. what's this? a softening on trade a retreat are on tariffs? yeah maybe. good morning everyone. cow that's the word of the day administration officials suggest exemptions it could be carved out for canada and mexico. and there's this too. gary cone may stay in the administration. he opposed across the board tariffs and he left the top economic job. if he stays in the cabinet, his strong voice for a softer trade policy will still be heard. earlier this morning, the president tweeted about a trade meeting this afternoon. more on that later. big deal -- they're playing hard ball with policy but the economy just keeps barreling along. this morning, i'm going to call the layoff indicator that's new

jobless claims. way down at generational lows. and employers not letting people go in this economy, they're now keeping people on the job and tomorrow morning the big jobs report is likely to see more wage gains and maybe 200,000 plus new jobs. it's thursday march the 8th it is truly great to be back. wait until you see what's happening to your money today. "varney & company" is about to begin. ♪ ♪ >> well this came out a couple of hours ago new tweet on tariffs from the president here it is. looking forward to 3:30 p.m. meeting at the white house today we have to protect and build our steel and a loom numb industries at the same time showing great flexibility and cooperation toward those that are real friends and treat us fairly on both trade and the military.

that to me implies carveouts, exceptions, rather than the blanket tariffs implied in earlier statements. now what's whatting to your money in light of all this political developments we're going up at the opening bell maybe 40 points higher big gain for the s&p and naysing dag as well. let's get back to politics because mover and shaker at the moment president trump ready to work on tariffs now we're hearing gary koan may stick arranged and may be some other carpet. greg is with us a rising investor. do you think these political develops surrounding gary krone, trade, the economy is this a plus for the markets today? >> not necessarily, stuart. i think the markets can go higher because labor market is so strong and overall economy is so good. three very good point number one a carveout for canada and mexico it is only temporary and still a deal done. number two the really big fight comes in next few weeks with

china we're going to punish them for stealing off our intellectual property an they'll retaliate. the third and final thing is that there's no carveout for western europe. and they're getting ready to put tariffs on blue jeans and werely davidson so a little too premature to get euphoric here. >> china reported a 44% jump in exports in month of february biggest export gain now that's for the trade mill isn't it? >> i thought all along stuart that real fight comes is not with a great ally like canada. but real fight is with china i think it is going to heat up soon. >> well market still gaining some ground now up 50 points at the opening bell and february jobs report are tomorrow morning. we get a good report i mean accelerating wank growth and more than 200,000 new jobs. is that good news for the market? >> you would think so wouldn't you. but sometimes you have to be care fling what you wish for.

it is a really strong number and it spike above 290 if everyone is talking ab 3% ten year bond deal that could be a little negative. >> but you know we're at 2.88% right now. yes so what we go to 290 historically that's very, very low, greg. dges agree but i think we may agree on that but markets get skiddish if they think they're headed up sharply. live to see a real rise in wages. that would be a tremendous indicator for a strong economy for the next several quarters. >> heaven forbid we get to hold situation good news is bad news. let's not go there again please. >> i agree. i agree. j but we're probably going to. greg all right thank you very much. but go ahead last word. >> one last thing idea that gary cone will come back to this administration, i'll believe that when i see it. >> that was a good last word. greg, coming soon again soon.

thank you, sir. >> you bet. >> health insurer zig that buying pharmacy benefit manager express script. 67 billion dollar. that deal is not the issue. the point is, they're creating one stop shopping for health care. that's my opinion -- >> that is right that's correct, and it also comes right when amazon jpmorgan chase and berkshire hathaway doing that nonprofit join venture to really driver a stake into the high cost o of drugs. and so this are guys the express is getting out at the top and anthem blue cross/blue shield ditched express script saying basically you're a kansasly middle man we don't need you guys. the white house has gone after this will just a few weeks ago saying you middle men are causing drug prices to go up. you pocket the rebate you have costly secret contracts with the drug companies. the drug companies don't really like them so they also often reject drug coverage and favor

older drugs instead of cheaper generic. so they may be getting out at the top right now. >> my bottom line is, i like what amazon is doing. getting into health care, and shuffling things a lot. benefit we could use some change. >> it is right for change right? >> really -- consumers really get enkowjed right for change. >> we'll take that. thank you. president trump meeting with big game executives today. how about that in the president's floated the idea of a link between violent video games and shootings as we saw in florida last month. roll that tape. >> the video games, the movies about with the internet stuff is so violent it is so incredible. i see it. i get see things that you would be amazed i have a very young son who -- i look at some of the things he's -- watching. and i say, how is that possible? and this is what kids are watching.

and i think you maybe have to take a look at it. you rate movies for different things maybe you have to also rate them for terror. >> all right well town hall editor and fox news contradict are tore joins us now. what's your reaction to the idea that the president is looking at violent video games do something about it you might be able to do something about school shootings. >> well the administration and president trump are certainly trying to approach this issue in a well rounded thorough fashion but we've been down this road before a number of studieses have shown that use of violent video games no matter how grotesque or inhumane have no link to mass shootings actually we've seen as the use or -- playing of these violent video games has gone up over past 20 yearses violent crime among young people decrease. this could be part of a broadser, you know, conversation about culture. but in terms of a direct link it is not existent. >> are you saying it's a red

herring going arranged the problem of guns by going up the gun violence in a video game. red herring, do you? >> going for guns is a also red hair when you look at the details and continue to see them coming out and the sheriff scott israel broward county is getting sued now essentially for if incompetence and negligence when it has failed we talk about video games or o guns and nra being the scapegoats here not actually looking at the fact that the system and every single level failed. that's really the problem. so it's god to look at all of it to make sure that all of the holes are plugged but viejt video games are not one of the issues here. and -- >> what i like is president brings people to the white house but some videotape that comes out of it. all synds of the opinion will be represented on the video game business, and we'll thrash it out. i like that to me that's politics in action. it's a direct opposite of what

you see in congress. where there's no debate. >> absolutely. and the president has done this on a number of issues and it's a breath of fresh air for sure and ceos of video are companies explain their side of the story because i do think a lot of americans see how violent the culture is in terms of video games it seems like there would be a link but as i mentioned before, this has been studied. we talked about this after sandy hook because assailant was active player of these games but no evidence there's a link. >> so good to be back this the middle of thing again -- and you're there. never ends and you're all right in the middle of it too. >> in the belly of the beast. >> you love it as a much as i do. >> maybe as a sickness. i don't know. >>ty thank you very much indeed. quickly aside here dow futures going up some more now we're up about 80 points the opening bell 20 minute time. then we've got costco their profit and sales not great. and they're facing stiff

competition from amazon on wal-mart. premarket cost goes down just $1. kroger are they reported higher sales but they have a weak forecast that's a problem. down 7% for kroger how about that? looks like bad news for apple -- citi group cutting its iphone x sales forecast in half. they originally say they sell 27 million of them in first quarter now only be 14 million. watch apple stock today. new onis line poll finds that five red state democrats in the senate would lose to their republican challenger if the election were held today. i'm not used to hearing that. they would lose? 5 democrats in the senate would lose -- >> we've got more on that -- a problem, california governor jerry brown he called a jeff sessions lawsuit a political stunt. and that he's declared that sessionses declared war on california. justice department spokesperson

zaire has a response to that, after this. on once again. >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade. to to me he's, well, dad.son pro golfer. so when his joint pain from psoriatic arthritis got really bad, it scared me. and what could that pain mean?

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numbers from a couple of retails i'll start with american eying the outfitters, did oak and the stock is actually up just 19 corrects cents not bad. same story with burlington stores and they are -- i'll look at the monitor -- there you go. that's worth waiting for. up 9% a $10 gain for burlington store. all right. jerry jones -- reportedly forced to write a big check to the nfl give me reason why is. >> ongoing from last season upset with with roger goodell the commissioner saying he's not doing a good job doesn't deserve the contract also upset over runningback suspension from the dallas cowboy. all of this led to legal fees which the league said to jerry

jones you need to pay us back. you cause trouble jones finally agreeing okay i'll give you the $2 million in legal fees. agreeing to, you know, let's all hug and make up and all of the rest of it so pay 2 million so they want to get off on a new foot. >> wiping the slate clean. see how that goes. all right go to california, as you know, yesterday jeff session went to sac toe to announce they're suing golden state over their immigration laws. this is how governor brown responded to that. roll tape. >> this attorney general is maybe trying are to keep his job because -- attorney general, the president is not too happy with him. i still put my hand out to say i'll cooperate jeff, if you can get off this current maneuver you're on. because it's unbecoming it's based on nontruth this lawsuit is going to last a lot longer than trump administration. >> e he went on to say that it is a plul governor brown said look this is just a political

stunt. the feds have declared war on california. sessions as you heard just doing it to keep hi job. joining us now sarah flor res director of public affairs at the justice department so political stungt is doing it to keep his job. and you guys have declared war on california. your response. >> well, we settled this debate 150 years ago i think governor brown should know that federal law is supreme to state law floft sets immigration policy. and in this case it ises not a policy disagreement there are policy disagreements with the state of california been but in in case we sued on three specific statutes at california recently passed. there's simply unconstitutional because they interfere with federal law and federal immigration enforcement and the endamming of lives of federal officers it is shocking sometimes that california thinks this is acceptable. >> well it got to me was the idea that governor brown says this is a political stunt. i'm sorry, look this is my

opinion i think it is the other way around. i think this is the democrats the democrat leadership in california that is staging a political stunt because they want to keep hispanic vote and keep themselves in power that's my opinion harshly expressed are you allowedded to agree with me? [laughter] >> i do agree because in this case you have -- criminal illegal aliens that they're releasing back on the streets that are then committing other crimes all because they wouldn't turn them over to i.c.e. i don't understand the politics of releasing criminal ares back on street when they should be deported it is mind blowing but you're right this is a radical open border policy but i think it is helping them political but not a political disagreement we're with suing because these laws are unconstitutional endangering lives of our officings. >> so it should go to the supreme court. rapidly shouldn't it? >> well we start ised in the district court in sacramento. and i think that this is pretty well settled law actually. you know the obama administration sued arizona over

their immigration policy saying that federal government set immigration policy and that did end up in the supreme court. so ninth circuit we know how that may go. but yeah i think eventually we will prevail here. >> what do you mean the ninth circuit we know how that may go. fill us in on that one. fnlings we have other litigation in ninth circuit and don't always win in the ninth circuit. >> you never win in the ninth circuit come on. [laughter] but that is why we have a supreme court and in this country who -- who can always review those. >> inteed. >> sarah thanks very much indeed. sure thing. >> watch out amazon alexa owners. some people say their alexa is kind of freaking out. not only not following commands but laughing in a creepy kind of way. with a cackle -- yeah. it's a cackle. okay laughing at their own -- [laughter] stop it you people.

get giddy. you'll hear the cackle after this. mom you called?

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tell it you what we do. now this, the winner of the 500 million powerball jackpot she's fighting to remain anonymous, giving away millions of dollars. the money is going to a trust -- >> going to a trust that is set up in lottery in new hampshire said okay we still want to release your name and your details because that's the law in new hampshire they're fighting that in court but they're putting winners $559 million into a trust and yesterday attorneys for jane doe is all she's known as say that she's now going to start -- making donations to funds that benefit charities that benefit children hungry children people who kids who are not getting proper education. she said she's going to donate up to 50 million over the course of time. u but the fight to keep herself private goes on in the courts. fnlings you don't have to actually get out the money -- all you have to do is go to bank and say i have that much and give me a loan you don't ever have to touch it yours that's

how you do it. keeping to pace here but alexa users say she's is laughing out of nowhere. fng play the last sound. [laughter] >> that's really creepy. you complained that it does that. you know the cackle kind of out of nowhere. >> malfunction around halloween this is creepy. but this happened to me late last year, 3:00 in the morning dead of night all of a sudden i hear amazon alexa say hello. >> have a british accent -- no. >> it's a long story doing in the kitchen. malfunctioning so amazon is saying it is fixing. >> i'm sorry i don't one of those someone bought one for me for christmas but i don't want it. but i'm told it can listen to everything you say but there's a

button a mute button to turn it off. >> there you go. i should have known that. [laughter] >> unmute yourself. it's great to be back. the stories we cover. i tell you you see this smile. look at this. the dow industrials will open very nicely high per thank you ladies and gentlemen. we're going to be up 100 points. at the opening bell which will come at you in about four and a half minutes time. we'll take you to wall street. we'll show you what'ses happening to your money this thursday morning. back to you many a second. how much money do you think you'll need in retirement? then we found out how many years that money would last them. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to,

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>> now this could be trouble. there is 50 second to go before the opening bell so i have to sit here to tap dance i have to give you the back trop to today's ohming -- >> five seconds. [laughter] you've got 10, 15 seconds already just look that. seriously back drop is this signs of flexibility on tariffs -- may be gary cohn doesn't completely walk away from the trump are administration interest rate is holding relatively steady below 2 9% on the ten year treasury we have a very is strong jobs report yesterday. another one coming tomorrow. and the jobs report this morning shows that employers are most

unwilling to fire or layoff their employees. that is the back drop. a strong economy, maybe some give on the issue of tariffs. there you hear it that's the opening bell it's ringing when it stops ringing right now we're up and running here we go. ignore that minor 82 look at that. it said up 50 points in the very, very early going. i don't see all of the dow 30 stocks opening at this point frankly maybe something wrong with that indicator but we're off, running and we're up 60 point to very early going. the s&p -- okay now up 50 points that's .2% same with the s&p. wall street professionals as charles pointed out yesterday wall street pros tend to use the s&p rather than the dow. the better indicator -- and it is up about a quarter of one percent. the nasdaq up over a third of 1 indicating to me that the technology stocks are doing very nicely. thank you very much. the tenure yield where is it?

2.88% i think it is. there you have it 288. that's a long way from the 3% which apparently threatened the stock market couple of week ago. 288 right now. the health insurer cigna is buying benefit manager express script. 67 billion dollars, looks like one stop health care is on its way. more on that in a moment. cigna is way down express is up. look at this one. city says apple is going to sell far feweraye x originally said they would sell 27 million in the first quarter now they say it is 14 million. i don't know why -- but the stock is not reacting negatively. you would have thought right amazon where does it open? i'll tell you now an all-time high. i think just a fraction higher than that a second ago. president trump appears to be willing to work with canada and mexico on tariffs that's the principle trade and political back drop to today's trading. ashley is here. liz is here.

scott martin is here and david dietz as well. scott, to you first. if there's some flexibility on trade, car vats for canada and/or mexico, is thats what's propelling this market up today? >> yeah. i think it's the messaging stuart of the fact that trump is talking top. he's bringing a -- big deal to the table. but willing to negotiate down the terms and i think that's something you saw reacting differently in the market sate last couple of days which was -- oh, my goodness trump is serious it will start a big trade and not going to budge on some of the principles. now the reality appears to be coming clear that he's talking tough. but also willing to come to the table to talk about a deal. so when you see markets relief rile, so to speak, because of the fact that we work it out with two trade partners that's what the s&p 500 likes to see. fnlings it's an negotiating toll let's face it that's how we operate she shoots high and come he is somewhere below. bear in mind that u.s. steel and

aluminum account for 1.6% of u.s. imports it is a tiny fraction, fear that it is brought down into other areas but let's keep perspective. but you have -- not the same as trade war. just not. all right i have news on china really extraordinary stuff. their exports jump a whopping 44% in february. that's the biggest month the jump in three years. that news comes riewght in the middle of this contentious trade dispute in this trade problem we've got here. doesn't it show you david dietz that america is, in fact, getting messed with. to china. >> we're all about pretrade but we want it to be fair trade at this point you have to show that somehow -- the u.s. consumers for buying all of these chinese foods feel they're being cheated. i admit it is not good for those competing with chink but begs question are are their costs too high or unions too strong. >> suggest that a big trade clash comes with china couple of

weeks down the road. that's what it implies to me -- anyway. we shall see. now then, february jobs report out tomorrow -- if it is very, very strong like more than 2h,000 new jobs if wage increases are picking up the pace. is that good news for stocks scott martin? >> initially no -- and that's what we've seen lately. you know it is kind of disappointing we've seen good economic numbers push stocks down because of this fear that the feds going to continue on this interest rate hiking cycle that interest rates thelses are going to go up and respond. and so stuart you should be -- talking stock in the fact that the economy is getting better wages are growing. but the initial reaction for stocks may be rather poor. >> can i get some comfort because this is a really pass naughting phenomenon, that's going on in by the dip action. when the market is going down, the 10% correction we have recently watch this. goldman sachs corporate stock buyback desk, had a record historic day so companieses are

stepping in buying back stock their stock on the dip. so are they using their tax cut benefits to buy back their own stock so that's helping to put a floor urpdz the majority on these downdraft days and other point too is that apple could easily, easily hit a trillion just on buybacks when is they do buybacks that eps number looks better. so their stock buyback could propel it higher. >> i don't understand why apple is up this morning about when they're city say that only sell half of the iphone 10 they were supposed to. that's interesting. and this is a big story -- health insurer cigna buying -- express scripts, 67 billion dollars -- this is lizzy this is all about about one stop health care shop. and amazon effects. we have not seen such rapid consolidation in the health care sector in a long time so there's a big shakeout going on. and you wonder if express discriminates we talked about it a fewenmies ago sold at the top smartly a smart most of because

they're being in the cross hairs right now by the trump administration for pocketing rebates for creeping high. so this is amazon jp more began brook shire hathaway so in health. j look at the bottom reasoned corner of the screen up 142 poins as we speak that's some bounce back i have to believe that tariff and trade that may be the reason for this particular rally first thing this morning. with me on that david? >> absolutely. remember canada and mexico are biggest deal suppliers. so it is really kind of gut the tariffs as far as deal is concerned. 3:30 this afternoon, the announcement comes i think promoted. i think and a meeting i'm sorry it's a meeting. now then we've got city, this is the apple story. and i don't understand it. city downgrades apple's sales rate for the iphone 10. they said they were going to sell 27 million now they say they'll sell 14 million. david dietz why on earth is the

stock up? >> i don't think the city news is new news i can tell you with first hand experience i lost my iphone and traded up to iphone x and it's not worth a thousand dollars there you go. >> thank you indeed scott martin where is apple up when forecast for its iphone x sales are down? >> the news is already in the stock. i mean rumors on iphone x death has been circulating for weeks no i now maybe a relief stuart to sell any of the phones because i agree with david i switched up to one and swismed back to my iphone 7 because i didn't like the phone. >> wow. >> i think jeffrey found four out of ten hold on to older phones -- >> not worth 1,000. >> the elitist with the british accent from connecticut. [laughter] o.c. okay sorry. my thanks to you for all of the hard work you do.

by the way -- check that big board this is a reallily. we're up 120, 130 points, 24,009 is where we are. costco they're profit and sales fell short. it is fashioning stiff comp tugs from amazon and watt wal-mart down $3, 1.7%. better sales at kroger looking down the road that doesn't look like a rosy future at kroger and that -- when you say that -- the stock takes hit it's down nearly 9%. american eagle the retailer, the outfitters, down 6% this morning. taking on the chin. better sales at the discounter burlington stores and that's going exactly the other way that is up 7%. lots of volatility in the retail sector today. u.s. steel says it is going to put about 500 workers back on the job. this is got to be because of tariffs. >> it is granite city factory this illinois this is a blast furnace with two idled there. going back to 2015 because of

steel and battle against cheap steel from place like china they say roughly 500 work reverse back on the job and they say it's immediately says their union leaders we've seen some of the biggest smiles on faces of workers so much of a relief to them and all to trump. >> amazon, amazon yes we have that story for you another one. investment firm bain says amazon could become the third biggests bank if it wants to -- it says amazon's banking services to grow to more than 70 million consumer relationships in the next five years. it would therefore rival wells fargo. you don't see it? >> i'm not buying. i mean, this is all on the news that a.m. horizontal is said to be in talks to open to work on a checking account offer from jp mover began chase and amazon is not even made a formal announcement about that for that number to be reached -- be wells fargo and bank have to sign more than 75% of their existing prime members into

checking and i don't see it. >> i agree -- you agree -- absolutely rubbish you know how hard it is to change your bank account? when you have all of your standing orders prearranged you know payments made. it is nightmare to undo everything to take your account somewhere else. peering's forget it. that's a good point. amazon paid a quarter of a billion dollars year in interchange fees for credit card due. now this threat can be used in order to push that down and they have to be careful what they qish for. ge finance was in banking we will far go has trouble here and it is not an easy business. regulated customers want to talk about their next -- >> hold on. scott -- never took off. almost out of time but scott last word to you. will amazon successfully get into the banking business? retail banking? >> i sure hope dongt because we own the stock and own for reare tile side not for banking stuff they're hoping to do maybe. >> stick with their nitting --

>> real tight little sound bite there from scott martin great to be back. it really is. it is that time when we say scott is thank you very much indeed. david dietz thank you, sir. gentlemen one and all thanks very much. 11 minutes in and we're holding to a 120 point gain. there you have it. target raising its minimum wage for all its workers we'll tell you how much they're going to get paid, next. and ohio democrats jared brown says no one in his state wants to deregulate the banks. well, we found someone. congressman from ohio he's a republican there. and jim is next.

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>> it's a very solid rile arely we're what 13 minutes in and up

133 points getting close to 25,000 on the dow. and then we have target, they're gipping to immediately raise the minimum wage nicole come on in. how much are they raising to is this >> up to 12 from 11 and did the same thing last year went from 10 to 11 prior year went from 9 to 10 and they have gold they're going up, in fact, they're going to have $15 by the year 2020. and they have over 350,000 employee. so they are on the rise. this is like many of the retailers who are trying to have good talent, keep them there, and the big picture is we've seen other guys doing it star is bucks, mcdonald's, costco all been in the move to raise wages but i have to teleo, though, it is going to cost the company and we're already hearing during earning season that wage pressure cut into the profit. back to you. >> obviously you've got them and like them you keep them and pay them more that's what is going on i think many a tight labor market. back to you short isly and that's a fact.

politics ohio senator, sherrod brown and he said nobody had his state, ohio wants to see bank regulations roll back. watch this. >> nobody in ohio except for some banking executives are clambering for this bill nobody is saying -- well we have to deregulate the banks and we have to help banking that drove into the ditch ten years ago -- >> found someone from ohio who wantses to unshacked community regional banks joining us now ohio congressman jim, jim -- look thanks very much for being on show i don't know where senator brown gets that but i would have thought getting rid of the ownerrous regulations on banks with which you and i do business, the regional -- low community banks i would have thought that's a great idea. everybody likes it is. >> well good morning stuart i would agree with you look for a small business man like myself having the -- if it wasn't for those shall community banks and for the

credit union to help middle america you know small business wouldn't be able to grow and prosper and somebody like sherrod brown doesn't it understand what it means for that small business owner who employs ohio workers to have to be able to deal with banks to have the banks have more flexibility and not have to spend so much money on regulatory burden so they could absolutely be able to leaked more money to help the communities that they serve. this is a real key here for ohio banks and it is something important for ohio. >> okay. i want to get back to the bsh because you were not one of the 107 republicans who signed that letter to the president opposing the president's tariffs proposals. but i take it, you are very much in favor of flexibility on staffs with canada and mexico which is probably going to hear about today. right? >> well absolutely, and let's face it there's a businessman i want to see all of the pieces. i want to see all of the parts before i make a decision. imght i want to see who is

excerpt and what president plans are and then i'll make a decision so i'm waiting to hear, i'll be looking forward to it but i'm a big supporter of the steel industry and a big supporter of manufacturing in our state and to do that you have to listen to everybody get all of the facts before you make decisions. >> is that the general feeling in ohio -- that the president's hard stand at least his initial hard stand on trade is the right way to go. >> one thing i will tell you in ohio people in ohio love the president he's a great support base there in ohio. not everybody i realize that. but they'll come on the show after and say that's not the case but majority of people in ohio like what the president is doing and like for middle america and like what he's trying get done for manufacturing aen they like what he's trying to get done for the steel industry as well. but at the same time i think they also want to see the whole pieces just like i do. what is the process what's he want to get done let's make decisions after that? >> jim i believe you're running for governor of ohio is that correct sir? >> i'm actually rub aring for senate. you're running for senate. are you running forth senate to

seat in ohio as -- a trump ally? a strong supporter of trump? linked to president trump? >> well absolutely i'm a business man the president is a businessman i what believes in rein not agree on anything but in the end i'm a sport of his policy i want to see those policies get implemented which is one of the reason why is i'm running for the u.s. senate. fnlings real fast -- is the ohio economy doing well as a result of these tax cuts? >> i have to tell you as i travel to states stuart people and companies are happier to give bonuses. employees are thanking me and employees that -- you would never expect are saying to me thank you congressman for that tax cut i just got $250 more in my paycheck and 25 more on my paycheck may be crumbs to some but to these people it's a lot of money and they're happy to get it back in their pockets. >> you couldn't resist getting the crumbs comment. >> it is politics good stuff. jim always a pleasure thanks for joining us, sir, appreciate it. >> thanks stuart.

look at that market we were up 130 but now up 93. but there is a preponderance of winners 27 winners among dow 30 only three losers. still on politics we've an online poll that says, if the election were held today the 5 democrats on your screen senate democrats if election were held today they would lose to their republican opponents more on that. more varney, after that. mom, dad, can we talk?

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>> boeing is a big winner, it's $3 i should say. boeing is a dow stock and ga that i know for boeing contributes what about 20 points to the dow's rally. look at amazon it hit an all time high earlier. 1,had 554 per share. it is up 30% this calendar year. is that right? that's -- impressive to me this 2018 is up 30% i have to check that new online poll that finds if the election were held today, 5 senate democrats from states that mr. trump won would be out of a job. they're on your screen now. washington times political columnist charles hurt is with us. charles i was surprised at that.

i thought that tide was running towards the democrats in the texas primaries that turn out of democrats was huge. i didn't expect that. did you? >> certainly with the media this -- this story that the media is telling is that the democrats are running away with everything. but i think that -- that there's probably a lot of truth to that poll. and i think what's most interesting about it is when you look at the number ofs of democrats who would lose according to this poll the majority of them are -- don't have named republicans running against them yet. and then, and then if you look at some of the other polls in the other states, once the republican is chosen, then the democrats going to win. so there's a important warning for democrats and republicans for democrat it's -- watch out. this is not -- the blue wave is not we don't see any real evidence of this blue wave. but for republicans it's you better stand and fight for something and you better --

you better run a very good campaign because -- once you get on the ballot voters don't like either of you. >> but it seems like it is tax cuts and the restoration of growth in the economy. that's a plus for republicans. but a negative for in thes this is just any opinion here a negative for democrats is they've held their hat on supporting illegals. i don't think that goes down well in middle america. >> and exactly right. and they've also hung their halt on hating trump and that's not a campaign and what you just listed there, about jobs in the economy and tax cuts all of that that's the trump platform and these republicans running in these states can't be wishy washy about it. they head to embrace the trump platform if they want to -- if they want to do well in these states. >> very provocative isn't it? you want -- to tie you're a republican. you're a candidate. and these polls are telling you, get out there and campaign with mr. trump on his behalf.

that's -- really a risky proposition in this environment wouldn't you say? >> yeah, and this is the problem -- for long time have been a problem with republican party the conservative party they're very conservative about things, and they're very careful about things which is good when everything is going well. but when you have washington -- headed for the trash heap because they e keep spending money that -- our money that we don't even have and driving us deeper and deeper and deeper into debt it is time for radical change and i think that was one of the things that ael -- appealed to donald trump trying to stir things up and stir things up he has indeed. >> i have to wrap it up there charles. but i can clearly tell that you're still having fun and so am i. and it's great to be back and everybody having a real great time. >> glad to see you back. >> i don't know about that. check the ratings that's the ultimate judge thank you very much charles we'll see use soon. look at this headline an opinion piece in "the washington post" look at it. it's time to give socialists a

try. [laughter] oh, as someone who lived in the socialist economy i'm going to disagree with that. vigorously -- my take next. test test. test test.

stuart: well, it has come to this. it's time to give socialism a try. that was the headline in the trump-hating "washington post." the writer, elizabeth bruin anything, says there is something fundamentally wrong with our economic system and liberals and progressives won't tackle the capitalism problem. she says bodies time, energy, creativity, love, all become commodities to be priced and sold under capitalism. she doesn't say what kind of socialism she likes. bernie sanders, venezuela, or obama, but it's time to give it a try any way. i don't think so. i say this because i have personal experience of socialism. i left england in the 1970s.

i left in large part because it was a sewingist economy, and it was failing, and it was awful. in america you can not imagine living in a society where the government owned and ran airlines, coal, and steel production, car manufacturing, electric and gas, trains, most of the buses and trucking and of course health care and education. the socialist unions were on strike constantly and we all paid sky-high taxes. please, don't tell me that socialism makes for happy, friendly, humanitarian society. it doesn't! fast forward to the obama years. i would call that socialism light. he didn't nationalize companies like the brits did in the 1970s. he just regulated everything. using the dead hand of the government bureaucrat to stifle the animal spirits of capitalism. what did we get? a shrinking middle class, stagnant wages, frankly

appalling social digs. what have we to the now? watch out, socialists, because capitalism is back. prosperity is more than a bunch of economic numbers. is is a feeling of vigor, growth, opportunity and dynamism. it has returned, because this president unleashed american capitalism. that is so worrying to the left. they see the writing on the wall. capitalism is delivering. they pile on jealousy, anger, the bogus claim it is failing and we need to give socialism a try. wrong. we have given it a try. it was bloody awful. second hour of "varney & company" is about to begin. ♪ stuart: well, maybe i shouldn't have said it but i said it anyway. got that? we're up 80 points on the dow. latest read on mortgage rates,

uh-oh. where are we? >> 4.46%, highest level going back four years since 2014. we've seen a steady progression on 30-year fixed-rate moving up and up. makes it harder and more expensive for people to buy a home. stuart: it wasn't that long ago you and i were talking 380. >> correct. stuart: now it is 4.40. ashley: yep. stuart: big tech names, what are they doing in an up market? they're up except for facebook. pulling back 50 cents. apple is up, alphabet, amazon. new high for amazon. all of them up. big health merger. cigna buying express scripts for 67 billion. this is all about creating one-stop shopping conglomerates for health care. look at humana i should say, that competes with cigna and it is way down on the news, four bucks lower. costco's profit, sales not up to

what everybody was expecting t has stiff competition from amazon, walmart. it is down three bucks. kroger they the reported higher sales. they gave a weak forecast. when you give a weak forecast for the future, looking down the road, not so rosie, the stock goes down 11% in the case of kroger. before we get to tariffs and the other news from washington i want to go back to my editorial, if that is what you want to call it a rant you might call it. the editorial in the "washington post," it is time for us to give socialism a try. i disagree with that senator john kennedy from louisiana, the master of one-liner. what do you say, senator. >> i don't know miss bruenig, "the washington post" columnist, sounds like she was playing

frisbee in the quad during history class. stuart: that was a good one-liner. >> i can give you 20 million reasons why socialism doesn't work. that is how many people lost their lives under joesph stalin. a lot of them starved to death. stuart: right. >> i'm sure miss bruenig would read a little history before she understands that she may want to visit north korea. i hear it is lovely this time of the year. tennessee how she thinks socialism works and test that against our way of life here in america. >> you never disappoint, senator, but i have to move on. very good. president trump will have a meeting on videogame violence at the white house today. what do you say about that? >> video game violence is, what you referenced? stuart: yep. >> that's a problem. i believe in a free and open society as we all do including but not limited to an internet.

but there is no question that the power of social media, if you will, of which videogames i consider to be a part has changed our society. we need to stop and step back without going to censorship, just ask ourselves, what is the impact of allowing kids to see violence over and over and over again in the form of a game? it's a very legitimate question to ask. stuart: i just like the idea of bringing people into the white house to express any and all opinions what we do about school shootings. that is what the president is doing today, no problem with that. another one, sir, president trump tweeted this morning about tariffs and here's the tweet. looking forward to 3:30 p.m. meeting in the white house. we have to protect and build our steel and aluminum industries and at same time show great flexibility and cooperation to

those that are our real friend and treat us fairly on both trade and military. that sounds like a pullback on blanket tariffs to exceptions with mexico and canada. compromise, do you approve? >> yes. i don't think any reasonable person could disagree with what the president tweeted. i've been telling my colleagues before we get all lubed up, let's wait to see what president proposes. he hasn't made a concrete proposal yet. we do know, the president knows, that the main problem is china. china is eating our lunch and the sack it came in and they're the problem behind steel. two years ago their economy started going down hill. instead of laying off the steelworkers, the communist party owns the plants, they started selling the steel overseas and the price fell through the floor. china is responsible for at least 50% of the world's overcapacity in steel and the

steel glut and say nothing that the fact that they steal your intellectual property every time you're not looking. really, i'm hoping that the president starts with and focuses on china. because no disrespect if our chinese friend but they're cheating. stuart: senator, you don't disappoint. we appreciate you being with us this morning. senator john kennedy, republican from louisiana. >> you bet. stuart: i want to bring in brian ben -- brenburg, kings college in manhattan. the president says, look, maybe we need some flexibility. maybe we need to soft pedal with canada and mexico. that is not his words but i'm interpreting it. do you approve? >> amazing what he is doing here. he put the whole world on notice. he got everybody up in arms about this. he held the line all the way to the last minute. then he comes back we'll do this in a way that won't harm markets, that won't harm manufacturers. this is pretty amazing, stuart. this is a very hard message to

pull off, based on what we saw this morning, looks like he is threading the need did he, he will put the world on notice at one point at the same time let markets and manufacturers no know i will not kill your business. stuart: he has done what he has done on many issues before. you open up with a very hard-line stand, see where the chips fall, see what the reaction is, as you say thread the needle to come up with a policy somewhere near the middle. >> has the ability to stick with his initial message just long enough to fet people a little bit worried about it, then he millions back. we haven't seen presidents able to do that in the past. stuart: i think you got it, brian. lot of positive signs in the economy, certainly in the job market. here is my question. tomorrow is the big jobs report, the big one, first friday of every month. we got it. if it's a real good report tomorrow, i think it might well be, more than 200,000 new jobs,

accelerating wage growth is that good or bad for the stock market? >> i think the market will like a big jobs number. i don't think the market will like a big wage number. that makes them worry about inflation and interest rates. last month we got the big wage number, 2.9% year-over-year, the market weren't crazy over that. if we see a number like that, i think you will see a dip as scott martin said earlier. a big jobs number will not be as big of a deal as a big wage number. stuart: thank you, brian. you were about to safe something. ashley: i was about to agree with brian brenberg. who wouldn't? stuart: we lost some of the rally. we were up over 100 points. now we're up 48 points of the dow industrials. i'm not aware of any significant event that turned things around but things turned around a little bit. check this one out too. actor russell crowe holding a divorce auction after he and his wife danielle spencer separated. he will auction off the armor he

wore in the gladiator. ashley: the armor he war in his marriage. stuart: the violent he used in "master and commander." they could be worth almost three million dollars. all connected to the divorce. happens april 7. ashley: how much does he get to keep of that? stuart: i don't know. california democrats responding to jeff sessions. governor brown says sessions is trying to keep his job. louie gohmert, friend of the show. outspoken congressman. he is with us next. look at bitcoin. right now it is down $9800. it was slammed yesterday as well. the sec says cryptocurrency exchanges must register with with the agency. market guru, tom lee, he is bullish on bitcoin. he is with us later this hour. you're watching the second hour of "varney & company." ♪

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♪ stuart: thanks, peter. that interview did not move the market. we were down, we started talking to peter navarro and we're down 112 now. no movement in the market from the interview. that was end of my interview with peter navarro on monday. he is director of white house trade. he didn't move the markets. he was wrong, i got to concede peter moved the markets. look at this, the dow rallied 129 points in the half hour after that interview. my apologies, peter, i got it wrong. you, sirs were right. attorney jeff sessions taking on california new immigration laws. he is suing california.

the state's own attorney general, half very air becerra he has this in response. >> i believe it's a low blow for the trump administration to deny our men and women who wear the badge the funding they need to keep us all safe by coercing us to try to do what they want us to do. that is not a good public safety technique. stuart: california's governor, jerry brown, he says look, it is all a political stunt. the trump team, which he dislikes intensely is declaring war on california. let's bring in congressman louie gohmert, republican from texas. there was one suggestion from governor brown, that jeff sessions is doing this to keep his job because he is not real popular within the trump administration and he is going out on a limb to go after california to keep his job. what say you to that? >> i can tell you jeff sessions is doing exactly what he would

have done no matter what anybody in the white house was saying. this has been a pet of is. i met with him number of times when he was the a senator over this very issue. it has been of great concern to him and by the way, i would rather have somebody in california accuse me of a low blow than being in california obstructing justice which a lot of people consider a crime. the acts of places like san francisco and actually in california, those who advocate getting in the way of the federal government doing its job and enforcing our immigration laws and our criminal laws, they're actually, they're acts are acts of secession. they're saying we don't care what the -- i mean, this hasn't happened to this extreme that i'm aware of, i know it happened in 1860, 61. here we have california saying hey, we're our own country.

we don't care what the federal laws are. that is a very, very dangerous road, stuart. stuart: i agree entirely. i have to ask you about democrats in texas. >> yes. stuart: they cast more than, a million votes in the primary, the biggest turnout since 2:00. are you worried about a blue wave hitting in november? >> i have been concerned, there was a big blue wave that hit tuesday in texas but, this is actually related to your prior story, when you were talking about previously, people in california, some of them not being happy that they're not enforcing immigration law. you could start with kate steinle's family. we have had people leaving california, companies leaving california in droves. the number one recipient is florida. florida and texas do not have state income tax. the number two recipient has been texas. so they flood to florida and

texas, and when they get here they say we wanted to be here no income tax, better governed, now that you're here, we want you to become a socialist state like the one we ruined in california. they have got more and more people coming. actually peopled that a blueprint in colorado to turn it blue, and it worked. and they have brought that blueprint. they have honed it for texas, and they're working to do that. why i did a robocall this week, telling republicans get out and vote because the democrats are coming out in bigger numbers than ever. get out and vote. we've got to show that we are concerned. stuart: all right. louie gohmert, we hear you, as always, thanks for being on the show again. >> always good to be with you, stuart. stuart: thank you, sir, appreciate it. we have more on california of course in our next hour. gavin newsome, front-runner to be the next governor of golden

state, formerly golden state, using jeff sessions to raise money for his campaign. he says, if he is on session is's bad side, he, gavin newsom must be doing something right. more "varney" after this. ♪ liberty mutual stood with me when this guy got a flat tire in the middle of the night, so he got home safe. yeah, my dad says our insurance doesn't have that. what?! you can leave worry behind when liberty stands with you™. liberty mutual insurance.

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comcast business outmaneuver. stuart: coming in from the white house, fox news reports that senior administration officials are meeting right now to discuss the specifics of that trade announcement, the 3:30 meeting i should say. it's a meeting on tariffs and what kind of action the president is actually going to take. administration officials meeting as of right now. there was no meeting on the

official schedule but the president did tweet about one this morning. so, the president says it is going to happen. they're discussing it now. peyton manning selling his stake in 31 denver-area papa john's. he did this two days before the nfl announcement they would be ending their partnership with papa john's. brian brenberg, what do you say to that? >> i hope the guy knows he sold it to that nfl will pull out of papa john's. peyton manning has options. talking about broadcasting deals. running for office. he does not need to be affiliated with papa john's, after all the news end of last year earnings call, john schnatter said nfl is driving sales. that is mess peyton manning doesn't want. he is good, clean guy. stay way afrom that. stuart: you want to step away from the nfl anthem mess. you want to stay out of that one. next one a former olympic

speedskater, apolo ohno is getting into blockchain technology. ashley: all in one cryptocurrency system. he calls it hybrid block. he has been a early investor early on in cryptocurrency, totally believes in it, but even more so in the blockchain technology where is the digital register where transactions are made. he is, you know, he says look, my olympic experience i know how to go the distance and all those adjectives. he says look, i believe in this. he has made money i can tell you that because he got in early, but the blockchain technology is the key story with him. stuart: brian, we all seem to agree on this program for a long time, bitcoin no, blockchain yes. >> he wants to build infrastructure for that market. he doesn't necessarily want to trade the currency. he wants to build a platform for people to do that and understand it. i think that is better long-term way to make money in this market than playing the ups and downs

of bitcoin right now. stuart: if you want more on apolo ohno, move into foxes business.com. they have the exclusive story right there, fox business.com. another day, another story out of venezuela. president nicolas maduro getting rid of members of the military that disagree with him. when and how does this whole thing come to an end? ♪

♪ stuart: you say good-bye. ashley: hello. hello. stuart: it is 10:30 eastern time, ladies and gentlemen. we play the beatles every weekday at 10:30 eastern promptly. love it. big tech names, here we go. citi thinks apple will sell fewer iphone xes. they said they would sell 27 million. now they say only 14 million. nonetheless apple's stock is up. boeing, one of the biggest gainers of all the dow 30 stocks could be because competitor airbus laying off 3700 workers in europe. boeing back up to 348. positive economic sign, jobless claims at generational lows. employers are not laying people off. tomorrow we get a big monthly jobs report, that may deliver more good news. brian wesbury with us. brian, am i right, there is a

lot of good news on the economy, especially the jobs front. if we get that good news is it good news for the markets or will we see a selloff? >> no. good news for the economy is good news for the market. i get it. the federal reserve might raise rates four times this year instead of three. about the the bottom line, economy is strong. interest rates should be going up. earnings are rising with the stronger economy. that means good news is good news. the way i look at it today. stuart: hold on for a seg, brian. i want to move on to the tariffs that commerce secretary wilbur ross said on this program. he said we have to look how the tariffs will affect american jobs. many people say they could actually harm our economy and the job market may suffer. >> yep. stuart: "wall street journal" editorial board is writing about this this is the headline. professor ross's soup can economics. hold on "wall street journal"

columnist and fox news contributor mary o'grady with us. you think these tariffs in whatever form are bad for jobs in america. make your case please. >> it would be one of the biggest blunders president trump could do. basically the u.s. economy is i can considering on all cylinders. why? because we have an open economy. we're producers can import components they need, add value to them and export them. it has that equation, has saved the u.s. auto industry. stuart: any tariffs are bad, even if we moderate and become flexible on tariffs with canada and mexico? all bad? >> look, more tariffs are bad. if you moderate them, make them less bad, they're less bad, but why do it at all? you don't need to do this the economy is growing. pointed out unemployment numbers are all-time lows. the u.s. has a leadership position on trade opening around the world. and what we need is to open more

access, more market access for u.s. goods, not to start pulling back and thinking that we can go into some 1970s, self-sufficient economy model. stuart: hold on a second, mary. back to you, brian. if we do impose the tariffs, do you believe it costs us jobs and slows our economy? >> yeah, it does. george bush found this out. he put steel tariffs on. we have more steel using jobs than steel-producing jobs. now i get it. that some people believe that's bad. bottom line what happens we will never create as many jobs by trying to build still or build aluminum here. because we use too much of it. and in the production of other goods and services. ford, we'll pay more for cars. we'll pay more for soup cans. we'll pay more for anything that uses steel and aluminum. that is a cost to the economy.

i'm right with mary on this ronald reagan said it right. hey, if they want to shoot a hole in the bottom of their boat, really what anti-free trade or tariffs do, why should we shoot another hole? it doesn't make any sense that means we take on water faster. so, all of these things, aluminum, steel, they're all very complicated, but one of the reasons that canada produces so much aluminum is because they use hydroelectric power. that's cheap power. in the united states we keep subsidizing wind and solar which means our electricity costs more than it should. no wonder we produce less primary aluminum here. this whole idea you can fix the economy by tweaking a tax or a tariff, it is just wrong. when you start messing with an economy, you hurt people, you don't help people. stuart: brian, wait for the announcement. the meeting this afternoon at 3:30 eastern time. we'll report on it.

brian, thank you very much indeed. mary, i read your stuff on latin america. that's your expertise. you have to tell me about venezuela. we hear that maduro is getting rid of military leaders who don't approve of maduro. my question is, this has been going on for a long time. we're going down in a spiral here. how does it end? when does it end? >> if you wan to see how it end in venezuela, look at venezuela's friends. cuba, north korea, iran and the model in venezuela is the model that they have used which is a military dictatorship that represses enough to maintain its power over people. if people starve or if they flee the country, that is meaningless to the regime. what they want to do is stay there in power, perpetually. they do that by purging the military every time they think there is some group of discontented people in the military who might try to remove the president. stuart: what should we do? what should america do about

this? >> i think the most important thing we can do in the short run, international cooperation to isolate the country. that would be very, very important. stuart: pretty isolated apart from cube barbs isn't it? >> no. the u.n. is going in there to help venezuela try to improve its agriculture. they're sending a team there to work with testimony on agriculture when they're starving their own people. that is to the isolating them. you could really, had an international effort to really isolate them -- stuart: in absence of that international isolation movement, in absence of that, out long do they last? >> well they last perpetually. if you're asking me if we should land the marines i'm going to say no. but if you look at cuba, they have been there for 60 years. people said they wouldn't last. they refined military dictatorship philosophy. they know how to do it. stuart: shall we off their oil exports, venezuela's oil

exports, should you cut them off? >> i always thought if president obama let keystone pipeline would be built that would harm venezuela in the short run. oil is sold in a global pool. if they don't sell it to us they will sell it to somewhere else, like china. stuart: they have very heavy crude which our refineries are good at refining. >> that is why it will cost them if we cut it off. they have higher transportation costs to china. they will have to find places where the countries have the ability to refine their crude but they will be able to sell it. you know what? , i say do it anyway. >> no, i agree. stuart: do it, come on. upset testimony. i don't care. >> i just don't think it will dislodge them very quickly. i think that they have a philosophy where they're willing to see people starve and empty out of country as long as they can maintain their foothold in south america. stuart: mary o'grady, thanks for joining us as always. point this out. the dow just turned negative. for entire trading session today

we've been on the upside. actually a gain of 130 points when we started out. now we're on the downside to the tune of 16, 17 points many i'm not aware of anything specific happening in the last 90 odd minutes, 80 odd minutes to account for the turn around but we have turned around. next case, amazon is selling a discounted prime membership to medicaid recipients. gerri willis is here to tell us more. let's get this straight. >> all right. stuart: if i were to be a medicaid recipient and i wanted to join amazon prime i get it cheaper rate than anybody else? >> discount. no credit card. no money. amazon doesn't care especially if you're medicaid recipient. 5.99 a month. perks, two-day free shipping, all of that, specifically targeted at medicaid. why? it is fastest growing segment of online shoppers out there. already walmart is doing very well in this category. last year $13 billion worth of sales at walmart were from this

group. guess what? that accounts for 18% of spending in the program. think about that. massive government program. 18% of its spending goes through walmart. this is a big, it is a growing business. one of the little things people are not talking about today, really important, the government next year will have a pilot program to push people to move their spending online, who receive these benefits, snap, all kinds of welfare benefits. amazon is taking advantage what is going on out there. remember last week we heard they will have, start using, start their own kind of checking accounts, right? they're trying to appeal to the unbanked, a lot of people would otherwise not be a part of the party, the online party. i bet on amazon. stuart: so if you're on medicaid, you can join amazon prime for 5.99 a month? >> that's right. compared to 12.99 a month or 9 the dollars a year what the rest of folks pay. is there reaction?

i have no idea. you think amazon is poised to get a part of government spending that. >> is what it is all about. gerri, good story. thanks for joining us as always. special election in pennsylvania. the next week, democrat connor lamb is trying to distance himself from nancy pelosi. we have frank sta. lone. he is running against mr. lamb. he will be with us next hour. we're down about 138 bucks. down about $10,000 on bitcoin. it was slammed yesterday. why? the sec says the cryptocurrency exchanges must register with that agency. we have a market guru, tom lee. he says about it coin is going to 25,000 bucks this summer. we'll have a debate on that next. ♪

♪ ashley: according to sarah flores of the justice department, california's immigration policy is a clear violation of federal law. take a listen. >> well, we settled this debate about 150 years ago. i think governor brown should know that federal law is supreme to state law. federal government sets immigration policy. in this case it is not a policy disagreement. there are a lot of policy

disagreements we have with the state of california but in this case we sued on three specific statutes california recently passed are simply unconstitutional they interfere with fed law law and federal immigration enforcement. they endanger the lives of federal officers. it is shocking sometimes to think that california thinks this is acceptable. ♪ with expedia one click gives you access to discounts on thousands of hotels, cars and things to do. like level furnished living suites for 45% off. everything you need to go. expedia

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stuart: rent-a-center cutting jobs. investor seem to like it. the stock is up 10%. now this, bitcoin, fell below 10,000 bucks yesterday. the sec warned that it could be tightening regulations on bitcoin and the exchanges i should shea, on the exchanges. thomas lee is with us. he is with fundstratglobal advisors. he likes bitcoin, doesn't you? >> yeah, we do. >> you think it will go to 25,000 buck as coin this summer? >> 25,000 is our year-end target. stuart: i'm sorry. $25,000 a coin this year? >> yes. stuart: make your case. why? >> well, cryptocurrencies are an emerging asset class. i think what helps drive changes in bitcoin's price is new investors discovering the virtues of owning bitcoin and attractiveness of it.

so, we think a lot of it is robin hood and other on-ramps for other bitcoin. stuart: wait a second. didn't the sec way, wait a minute, these bitcoin exchanges, the cryptocurrency exchanges, there are cases where people have are known owners of cryptocurrencies threatened at gun point, hey, transfer your bitcoin somewhere else and there is no trace, you can't be traced? $15 billion worth of hacking losses. >> yeah it is, it's a little bit like email in the '90s. so i think learning security around managing digital wallets is something we're all, i think that the industry sort of has to educate new users on but, yeah, i think it is -- stuart: i don't get it, tom, really. is it now 2,000 cryptocurrencies something like that, growing daily? >> yeah. stuart: you should see the pr people come to me say put this on put this on it is great, the

new cryptocurrency. they are a dime a dozen. >> yeah. i think there doesn't need to be this many cryptocurrencies,. stuart: but there are. >> i think some are objects of speculation, but again, if you look at the stock market there is thousands of securities, doesn't mean there aren't real companies out there. stuart: i understand. >> so i think -- stuart: you're out on a limb be. you're taking a very strong stand here. you're saying to ordinary, regular investors, hey, this is interesting, 25,000 by the end of the year. >> yeah, but that is actually not, it is not a huge leap in value increase. bitcoin, 94% of bitcoin's moved has been explained by user growth and activity per user. that is explained 94% of the move since 2013. we're saying you grow user base 50%, there is a network effect and you keepance traction activity count roughly the same you will get to 25,000. stuart: is there reaction from other people like my reaction,

what on earth are you talking about here, a little incredulity? >> most traditional investors are skeptical. in 1990s when i was wireless analyst, many were skeptical of cellular technology and thought it was gimmick, so much more expensive to use than a landline fine but look today, everybody uses a cell phone. digital money is safer way to use and store money than traditional money, even though wallets can get hacked, you can't create fraud on the blockchain. stuart: if you buy it at 10,000, you go to 20,000, you made a $10,000 capital gain, but you don't pay tax on it, do you? >> no, you do pay. stuart: you are supposed to, but if it is not traceable? >> i think that regulation is very important in the space because we don't want frauds and institutions which haven't really participated in a big way want regulations. so i think that things that the sec is doing and globally making this much more attractive place for money to come in so.

stuart: regulation is not a bad thing in this case. gives more security to the buyer of the bitcoin. >> i don't think people buy bitcoin to avoid capital-gains taxes. i think they're very attracted to the security of digital money as a store of value. so i don't think it's a field of tax evaders and scammers. it's, really new technology. stuart: money laundering, drug money, private transactions? >> i'm sure a lot of people believe that is the story of crypto. but wireless people thought it was yuppie toy when they thought cellular or just an expensive little toy that the landline companies were going to make zero. stuart: i think you're a brave man, tom lee. so i will move on to different subject entirely having exhausted bitcoin with you, i will talk to you about this one. health insurer cigna, agreed to buy express scripts. 67 billion-dollar deal here. >> yep. stuart: i see this as a move towards one-stop medical care shopping, soup-to-nuts, a response to the amazon move into

health care itself. you with me on this? >> yes, absolutely. i mean -- stuart: can't leave it at that. you got more on this? >> the health care industry is ripe for disruption. it was a industry not necessarily priced on competition t was not competitively priced. drugs are based on roe. stuart: yep. >> and as percentage of gdp it is close to 20%. amazon has really disrupted a lot of market because they have simplified a lot of processes, eliminated a lot of costs. it is attractive to see this happening in health care. it is not great for a lot of health care companies but as you know a lot of health care companies are trying to cut costs reduce costs in the industry. those are great equities to own. stuart: you have a fascinating idea on major stories of the day. we appreciate you being with us. >> thanks for having me. stuart: you can come back, if not careful son, you will come back. if it doesn't hit 25,000 bucks a share -- ashley: exactly. stuart: tom, appreciate it.

the physicist we know him, stephen hawking he handses the question what was there before the big bang. he says nothing. sounds like a religious spiritual debate to me. we'll individual after this. but i'm not standing still... and with godaddy, i've made my ideas real. ♪ i made my own way, now it's time to make yours. ♪ everything is working, just like it should ♪

"face to face" let's get spiritual, let's get intellectual. physicist stephen hawking says nothing was around before the big bang, no god, no creator, nothing. new york times best-selling author who wrote that book is with us now. put this in context. hawking says nothing there but no god, no creator. >> he has said that. everything in science leads us to believe 13.8 billion years ago there was a singularity. science can take us 13.8 billion years ago when the universe was created out of nothing. this makes stephen hawking uncomfortable because it suggests that there was

literally nothing before that. it implies god in a way. of time and space were created 13.8 billion years ago which is what science says, you say how did space and time get created? what he has recently said is there was a kind of time, a different kind of time before time was created 13.8 billion years ago but here is the point, where it gets fascinating, stephen hawking has gone outside the boundaries of materialistic, naturalistic science. he is fudging it by talking quantum physics but the point is he is saying he is uncomfortable with the idea that everything came into existence 13.8 billion years ago so he has to go outside the boundaries of what science can tell us and is speculating in what is dramatically a non-materialistic and i would say in some way nonscientific way. this is ironic because isn't it

proof that he is longing for something outside this universe? stuart: looks like it, sounds like it. >> i am out of time. stuart: there will be more varney after this.

stuart: six years ago the supreme court ruled states could not use their own laws to undermine federal law. atty. gen. jeff sessions went to california and said clearly knock it off, you are undermining federal law, don't do it. addressing the mayor of oakland who tipped off illegals, how dare you needlessly endanger the lives of our law enforcement to promote a radical open borders agenda. clearly enraged governor brown responded, sessions have gone to war with california and

engaged in a political stuns, he says. it is governor brown and the democrat leadership in california that has gone to war with donald trump. they are the self-proclaimed leaders of the resistance. it is their defense of criminal illegals that fired this up in the first place. a political stunt? that is rich. this whole sanctuary city, sanctuary state policy is a major league political stunt designed to guarantee democrat dominance for generations to come. it is about the hispanic vote, they are the largest ethnic group in california and they vote democratic california democrats are moving heaven and earth to make it easier for illegals to work at vote. that is a gigantic political stunt and if they get away with it it will corrupt presidential elections. jeff sessions is probably going to the supreme court.

and the next federal budget will perhaps deny money to california if it continues to deny federal authority. the sooner the better. one last point. democrats are basing their appeal to voters on support for illegals. i don't think that works in middle america. in the long run i think donald from wind this one. he is going to california tuesday to check out the border wall prototypes. his first visit as president. he is putting himself in the middle of this issue pitting him against california. the third hour of "varney and company" is about to begin. quickly to me. you heard my take. let's get reaction from the california republican party chair. if the gop wins in california, the whole immigration policy

gets reversed but you know what i'm going to say. you are not going to win, are you? >> we are going to do our best and take our best shot but the political stuns was done by jerry brown. the fact of the matter is democrats have had total control of california for the better part of eight years, they made a mess of it by every metric, things are worse than before jerry brown was elected and democrats had total control and this is a carefully crafted political plan to blame washington dc for all the problems of california. it is not just felons but citizens california felons, not just illegal immigrant felons from ice raids but democrats in california have led 40,000 felons in state prison and countless felons out-of-state

jails and seeing the violent crime rate rise to almost 16% over the last two years unless you are affected by violent crime. in that case it is 100%. stuart: the move they make on illegal immigrants are surely designed to lock in a democrat majority in california for generations to come. no way you can beat a coalition of hispanics, the largest ethnic group in california, greens, municipal worker union members, teachers, you can't beat that coalition. california is essentially seceding from the rest of the country. >> it is the majority minority state but make no mistake, illegal immigrant felons do most of their crimes in the hispanic community. ms 13 may be a theoretical gang

to jerry brown but is a real-world experience to a lot of hispanics in california and they appreciate taking illegal immigrants out of their community who are felons. this is a plan to distract california by blaming the federal administration for everything going on. stuart: thanks for being with us. we look forward to november, look forward to seeing you win in november but i don't think you will. i don't see how you can beat that coalition. where are we now? we are 95 minutes into the trading session. we were up 130, dipped to the negative and backup 47, 50 points. a big day for investors. tomorrow's jobs report could be getting strong news on the economy tomorrow morning.

gary, if this jobs report is positive, i think it will be but i don't know for sure, 200,000 new jobs and accelerating wage growth. is that good for the stock market or bad? >> i think the numbers will be good but i am pretty much 100% sure january 29th is the top in this market and we are going through a big consolidation phase because of how strong the market was. it is very normal, interest rates don't spike higher or something stupid doesn't happen, it will break out. and right this second. stuart: the economy remains very strong and getting stronger, a fundamental crash

of the market. >> as long as the money is out there, if interest rates stay low, when earnings are strong, the market for a long time lived off the easy money. i think we will go back and forth. the good news is strong semi conductors and financials in good shape. expose yourself to those places. >> at 10:00 eastern time when i went off on a rant about this washington post op-ed, time to give socialism a try. as you heard i am vigorously

opposed to any suggestion we introduce socialism anywhere into the world economy and you have a comments. am i right or wrong? >> you are 1000% right. what these people do not understand is the only way socialism lives is capitalism's money. the other part of the equation, when capitalism turns into socialism, you have venezuela and when socialism takes over you end up as cuba. if anybody lives in this country does not see what is happening, maybe see what is going on. i don't know what to say when someone says that. stuart: if you are in agreement with me you are back on the show. thank you very much. now this, the white house launching a new initiative to make it easier to access your

medical information called my health e data, you get electronic versions of medical records from all your providers regardless of which dr. you have seen or which hospital you go to. all electronic access. another medical story, the fda approved the first at-home test women can use to check their risk of breast cancer. the dna test searches for three breast-cancer mutations. a doctor's prescription is not needed. they have approved it. health insurer cigna buying express scripts for $67 billion. a big merger. i call this 1-stop shopping for healthcare. soup to nuts in one place. amazon selling a discount prime

membership to medicaid recipients, $5.99 a month, amazon stock at an all-time record high, $1552 a share. it was $13.54 a couple minutes ago. have you ever taken your computer to the geek squad for repairs? this story is for you. a new report reveals the fbi has been paying geek squad repairman to act as informants. the first special election of 2018 features rick sir cohen and carla lamb for a congressional seat in pennsylvania. rick sir:is with us this hour. 20 minutes from now donald trump holds a cabinet meeting at the white house. any headlines? you will get them first. you are watching the third hour of "varney and company". last years' ad campaign was a success for choicehotels.com badda book. badda boom. this year, we're taking it up a notch.

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stuart: the second major storm to hit the northeast and less then a week has moved out but hundreds of thousands are without power, 250,000, no power in new jersey alone, two feet of snow in new jersey or new york. politics, pennsylvania special election tuesday. and republican rick rich: cercone. >> my opponent wants you to believe the biggest issue in this campaign is nancy pelosi, a big lie. on the front page of the newspaper i don't support nancy pelosi. distant between carla lamb and nancy pelosi is what he is trying for. we have republican congressional candidate rick cercone with us. if mr. lamb is distancing

himself from nancy pelosi are you embracing donald trump? >> great to be back on your show. he can say what he wants. the facts are my opponent voted for hillary clinton, he has nancy pelosi sock puppets all around him, steny where without you, mike doyle leading him around by the nose was martin o'malley has been out, all the liberals from the left have been out to help him in his campaign. that doesn't fly in the 18th congressional district. he can say what he wants. stuart: you are tying him to the democrat left, got that but are you tying yourself closely to donald trump? >> i support the same agenda i was elected on the same agenda donald trump nationalized, cutting taxes, cutting spending, rolling back regulations straggly business, repealing replacing obamacare, rebuilding our military, taking care of unborn children and

enhancing our second amendment rights and appointing conservative justices to the court system. all those things, the same agenda i ran on donald trump nationalized, that is why we are so tight, fighting for the same thing, people of the 18th congressional district voted me and donald trump year and a half ago. stuart: it would be true to say many people and in your district especially do like the president's policies but object sometimes to the president's demeanor and style. of you come across that? >> hard to please everybody. people know the president of the straight talker and they elected him knowing that. i'm a straight talker and people elect me knowing that. not everybody agrees with the way we say things but people look at what we do. i have a record of doing what i say. stuart: democrats are pushing hard to get maximum turnout. you have got to do the same because it is tight in your congressional district. >> it is all about turnout. we are pushing hard, great get

out the vote if it. i have a wonderful game i have used the last eight years in my statehouse races. we have a strong message that resonates with the people of this area, they will turn out for me. stuart: all eyes will be on you tuesday of next week. by the way we should tell you we reached out to carla lamb, he did decline our offer. updating paid parental leave policy, new dads, birth members get additional 6 weeks of paid leave. and provide employees with $4000 of adoption assistance. bit coin after the sec warned there could be tightening regulations on crypto currency exchanges, it is below $10,000 a coin.

twitter has gone straight up, rolling out new measures to crack down on crypto currency scams. twitter was $20 a share a few months ago. now it is 35. olympic snowboarder chloe kim, a new face on barbie dolls, 17 new barbies to be unveiled for international women's day which by the way is today. the likenesses of amelia ehrhardt and the artist frida -- wait for it. the 2018 best airlines report. which airline rated number one. do you think united airlines, first you will get results i promise you. fisherman nate, a bald eagle

swoops down to grab the fish off of montana. he just caught it just like that. you get it all on "varney and company". we will be back. but i'm not standing still... and with godaddy, i've made my ideas real. ♪

♪ i made my own way, now it's time to make yours. ♪ ♪ everything is working, working, just like it should ♪

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stuart: we asked what is the top airline? according to the points guy, alaska number one. the second year in a row. key criteria. what is the fair structure like on customer satisfaction? ashley: discounts most of them. stuart: delta, united, frontier, jetblue not in the top five. the stock price of the winning carrier alaska air group down 30% on a year ago. up a little bit this morning. the oldest message in a bottle found in australia. a woman founded on a beach near perth, western australia, dated

june 12, 1886, and had been thrown overboard by a german ship as part of an experiment by a german naval observatory to understand global ocean currents. they found it. construction workers in rome discovered a 2000-year-old ruin of a military commander's luxury villas found during excavation of the subway system. this includes 14 rooms and a fountain in a central courtyard. a string of bright planets called planet parade lights the sky this week, the moon shifts 12 ° each night giving us a clear view of the planets including jupiter, saturn and venus was they won't be all visible at the same time. the show will last several days. i like this. a semi-truck carrying busch

beer overturned in florida. the driver drifted into another lane, overcorrected. the sheriff's office says the beer didn't fare so well. it was cleaned up and thrown out. a little skepticism on the panel. moments away from donald trump holding a cabinet meeting at the white house. the markets are pointing up, not much, 58 points higher. we will be back. ♪ this is laura. and butch. and tank. and tiny. and this is laura's mobile dog grooming palace. laura can clean up a retriever that rolled in foxtails,

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$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. stuart: as we told you the cabinet meeting beginning right now in the white house. if there are any headlines or video coming out of that meeting you will get it. check the big board, we are up but not as high as we were earlier, previously 130 points. 24,847 is where we are. our next guest has written a column about donald trump and the headline reads trump revives the apprentice.

dan hettinger, deputy editor at the wall street journal, the sub headline, i read the article, if the carrot cost jobs, joe biden will ask every laid-off worker who got you fired. you are saying this is not a good thing. tariffs are real bad. >> politically. that is one of my big concerns. i'm afraid the president may be driving a wedge into his own base. we know what the base was the got him elected, a lot of blue collar workers in pennsylvania, wisconsin and michigan, put trump over the top. the problem is those blue collar trump voters, some of them work in the steel industry producing steel. many more work for companies that use steel fabrication coolly affected by any price increases. the wall street journal has a fascinating story on its website saying there are 29,000 companies in the united states

in the steel fabrication business making pieces for auto parts, they employ 900,000 people. and they got to pool back, the higher prices, at the margin this could cost trump support in hartland states. joe biden if he is the nominee will start exploiting that. stuart: the premise of your idea is prices do go up by whatever amount if these tariffs are imposed but we will get news this afternoon in all likelihood, there will be a pool back, and exclusion for canada and/or mexico and other countries. it doesn't have the impact on prices and you are smiling. >> it is typical of the trump management style. when he announced a global tariff on steel and aluminum we

are trimming it back, not canada or mexico or japan or south korea, it will be basically china where a lot of people thought the emphasis on trade should be from the beginning. if it is a china issue, that wouldn't be the worst thing. it would ease a lot of concerns. stuart: you do believe if those tariffs were imposed, 10% on aluminum, prices go up and people lose their jobs, that is your premise. >> that is my premise. not everyone will lose their job but in steel fabrication companies which are relatively small and employ small numbers of people that their prices go up they are going to lay off people who voted for donald trump. stuart: you might be interested in this. donald trump says, i am just getting this in my ear literally, that gary cohn might come back to the white house.

donald from says he likes him, like gary cohn and he might come back to the white house. we are first to get it on the air. >> that is what i mean. trump revives the apprentice. you are fired, come back to be on the team again. stuart: that is what donald from does. he gets a strong opening gambit, in a negotiating position and moves on from there. >> we had a couple incidents like this since january. one was the immigration bill, they got together, since then nothing has happened on immigration. the parkland massacre we are going to do something on gun control, trump said he will stiffen national rifle association and since then there has been no movement on that either. both of those issues have floated into the ether. i'm afraid that trade is going

in that direction. complex politically complicated issues, a lot of pieces in play. i'm not sure the white house has all these places in play, announcing something this big. stuart: fascinating is that the president likes mr. cohn. no reaction. i don't think this news is out, we are first to report it to. as usual ahead of the game, you are all right, thanks very much. a new poll shows five democrat senators in red states would lose to a republican if the election were held today. they are on-screen now. mention west virginia, miss catskill, missouri, donnelly, very important people, democrats all. when i saw the results of that poll that those five democrat

would lose to republicans i was very surprised. i thought there was a huge surge in democrat turnout. >> these are five states with donald trump won by double digits. what is interesting in the poll is if you take a look at it the president's 2016 voters the approval is here, as you can see, five states won by double digits, montana, north dakota, one that was pretty close to double digits, ohio, job approval is pretty close to the 2016 election. those five states particularly the five states that are double digits for donald trump in 2016 are going to be a problem for the democrats in 2018. and the poll, the democrat deficit in those states in four of the 5 states democrat

incumbent was measured against a generic republican. and only one of those states, missouri was claire mccaskill against her opponent, the reform minded atty. gen.. this is before you attach anything positive. in north dakota we have a candidate, kevin kramer who got elected to the house the same year heidi hi kim got elected to the senate, she won by one person, he won his race for the house by 12%. we got some real opportunities in those states. stuart: isn't this all about tax cuts leading to economic growth, deregulation leading to economic growth, energy dominance leading to energy dominance, all those issues, the president has gone through the mall, very popular in those

five states. >> i would say also those states, strong military and heavy dose of cultural conservatism. they believe in patriotism, believe in the american way. it is not something distant and unfamiliar to them. they believe in patriotism, standing for the flag, putting their hand over their heart for the national anthem, a heavy dose of cultural conservatism that is not well-received in the democratic party. stuart: glad to see you feeling better. more cheerful about the november election. >> i received inquiries from the emerald coast of florida wondering the whereabouts of your fellow panelists last night, i used to own property there, they are concerned members of your panel, and auto

accident involving a large truck of beer. several of them were there. stuart: you and i share something. we are non-drinkers. i wasn't in the panhandle of florida. >> if i wasn't there i wasn't picking up beer cans like your compatriots. stuart: in a dentist's chair. you are all right. good to see you smiling. huber. i didn't know this. huber is using self driving trucks to make deliveries in arizona. regulations prevent from driving on small local roads, so for now these trucks will travel on major highways. when they get off the highway they will bring a human driver for the last few miles.

>> sounded like something out of a stephen king novel. stuart: mercedes will release high-tech headlights that project warning symbols and driving tips onto the road in front of you along with standard headlights was they will have a pair of small projectors that display hd quality images on the road's surface, the feature will be available on some models later this year. jeff locke is in michigan, ford tests how they perform in winter weather. you are performing in winter weather. what have you got? carmack i wish you were in the front seat with me. i am in michigan, the front seat of a ford expedition and you see from the other camera, in the back of a ford f150, testing the terrain management system. >> the system off at the moment. >> reporter: this is all ice

and snow. we are showing you what it is like if you don't have anything else. >> that is correct. >> reporter: the management system you kick in and all of us we are not going crazy and my stomach is doing that. show what it is like if you turn it on and try not to crash into the camera up here. there we go. now it is on. here is the deal. we are going the same speed as we were before. >> that is correct. stuart: terribly sorry. bad sounds quality and we are coming up on a hard break. that was good stuff. flock always gets in trouble. new claims, a new report claims the fbi has been paying the geek squad from best buy, paying them to act as informants on customer's

computers. sounds like a privacy issue to me. lawmakers in florida passed a bill that bans free speech zones on campuses. what does judge andrew napolitano thing? john cox, republican running for governor of california, i want to know if he wins will he turnarounds california's integration policy? there is the caveat. if he wins.

nicole back i'm nicole penalties looking at target, they went to have market share, keeping their workers in a rising economy so they are raising wages, stock is to the downside but the big picture is they are popping minimum wage to $12, $15 by 2020. this has been the trend for many companies, walmart raising it to $11, costco $13, starbucks, mcdonald's, have all been raising their wages to keep the talent the way target put it in their notes and raising the minimum wage. this is a way to maintain good talent and to help americans to

have a little more in their pockets. but i'm not standing still... and with godaddy, i've made my ideas real. ♪ i made my own way, now it's time to make yours. ♪ everything is working, just like it should ♪

stuart: straight to donald from. >> and economic meeting to protect steel and aluminum in our country. i want to say this cabinet meeting, a lot of things happening, very positive things happening for our country. i'm pleased to report our massive tax cuts are showing

tremendous results lose 90% of american workers are seeing bigger paychecks and that number will go up. almost 4.6 million people have received tax-cut bonuses with wages are rising at the fastest pace in more than a decade, something people have been waiting for. i was talking 18, 20 years of wages effectively went down. now for the first time in a long time they are starting to go up for people. 3 million new jobs since the election and unemployment claims are at the lowest level in 49 years. unemployment at the lowest level in 49 years. that is a beautiful statistic. taking action to protect american industries vital to the national security including american aluminum and steel.

aluminum and steel are the backbone of the nation, the bedrock of our defense industrial base. greatest presidents from washington to jackson to lincoln to mckinley and others protected our country from outside influence, other countries stealing our wealth and stealing our jobs and stealing our companies and we are going to be very fair, very flexible but we are going to protect the american worker. we also recognize today is international women's day. we are proud in all the measures we have taken economically to empower women especially in the workplace and i am pleased to announce the unemployment rate for women in our workforce is at an 18 year low. hope to be able to hit that.

they hit an 18 year low and we are close to breaking the record. and economic policies restore prosperity we are working to bring back our safety. and cutting regulations, in many ways making it stronger, having to do with safety. i would also say believer or not having to do with the environment. you can have fewer regulations and have the remaining regulations be stronger and more effective. that is what we are doing, so we are having some great numbers coming out. i met with the victims of school shootings including the courageous students from marjorie stoneman douglas high school, florida, in the aftermath of that terrible tragedy we are taking strong

action, bump stocks, almost finished with the legal papers, we have statutory ceilings we have to go through to get rid of things people agree we should get rid of so bump stocks are just about finished from the standpoint of getting the paperwork done. you have to wait. gos of time, a complicated process, bump stocks are going to be gone. i want to congratulate the state of florida and your representatives on some good legislation that has been passed as they listened to be a lot more because and expectedly they passed concealed carry for some teachers with great ability of weapons and guns and passed that, somewhat surprising because they didn't go in thinking about that. they liked what i said and a certain group of people have

great talent. they love their students. it is concealed and brings great safety. you don't have to call them. it doesn't take 15 or 20 minutes to get there and you know what is going on so they passed that. a lot of people were surprised was i wasn't so surprised. i thought they did a great job. they passed a lot of very good legislation last night. we are working too hard in our schools and make them less vulnerable to attack. we are working to strengthen our early warning system so when there are red flags as we had in florida, 39 red flags which is a disgrace. so many red flags. crying out for somebody to nab that guy. authorities will take action quickly and decisively.

we are working on commonsense measures to protect the rights of law-abiding gun owners while keeping guns out of the hands of those who pose a violent stress or even a threat. background checks are moving along in congress and i think moving along pretty well. you have been covering congress for a long time, things like background checks, never that easy but moving along and a lot of great things are being done. we are making it much tougher but a lot of things are happening right now as we speak. i will also say at the state level a lot of states are doing things that go along with the federal government. a lot of this can be done by states as was the case over the last few days with florida. really some tremendous legislation happening with states having to do with school safety and safety. it is not enough to secure only our schools.

we must secure the communities where our kids are growing and wherever they go, wherever anybody goes, not just the kids, that is why we are committed to reducing violent crime like no other administration. we are fighting the deadly gangs, ms 13 and the gangs. they are vicious, they are horrible and there is no excuse for allowing them to flourish as they were. we have taken thousands of them out of circulation, gotten them out of the country or they are in jail. we are tackling this deadly scourge like nobody has ever tackled it before. sanctuary cities, working hard, the justice department has done a fantastic job. we should have legislation

where we put an extra line in the money we give them. you want the money you can have sanctuary cities, we avoid the court battles all the time which we probably will win. they want the money, they should give up on sanctuary cities and horrible criminals. with the mayor of oakland did the other day was a disgrace where they had close to 1000 people ready to be taken off the streets. many of them, 85% of them were criminals and had criminal records. the mayor of oakland warned them all, taking a fraction of that, 150 and they were all set, in the planning and get out of here and telling that to criminals, and with respect to her, what she did is incredible

and dangerous from the standpoint of ice and border patrol. really made law enforcement more dangerous than it had to be. we are looking at that carefully. and interagency, and approving reentry. people have been in jail, no matter what they do. making the economy so strong in the system. look at them, phenomenal employees are putting out some information. they go into the system and when they get a job they take advantage of it, they do a great job, very important.

each of the cabinet secretaries today has a vital role. one of the things i will be starting the meeting with is to continue to cut regulations. we have a tremendous way to go. probably 40% of the way there. statutory requirements make it where you give 90 day notice, have to give a 30 day notice and have to give a 6-month notice after -- by the time you give these notices time goes by but still in 12 months the fact at the end of the 11th month we cut more regulations than any administration in the history of our country, whether it is four years, eight years or in the one case 16 years. we are going to cut a lot more. we have a lot more to go. we are working with the army corps of engineers. they have been not so fast. they are slowing up some jobs.

we have been working on that. the army court. epa get it done and we are all getting it done, the army core has to follow much quicker. we may have to streamline. they are in charge of areas of the country that have nothing to do with the army core so much anymore. general mattis is working to streamline the procedure. some jobs are being held up, they are fantastic people but we have to speed that up. this is gary cohn's last meeting of the cabinet and he has been terrific. he may be a globalist but i still like him. he is seriously a globalist, no question but in his own way he is a nationalist because he loves our country. you love our country. [applause]

>> he is going to go out and make a couple hundred million and come back. you might come back. we will be here another 7 years hopefully. that is a long time but i have a feeling you will be back. i don't know if i can put him in the same position. he is not as strong on those tariffs as we want but on behalf of all of us i want to thank gary. he has been great. he worked with wilbur and steve and mike. we all worked so hard on the tax cuts. they have been far beyond, i would say, our wildest expectations. what we thought would be very good has turned out to be unbelievable, great. people are appreciating a lot. democrats don't know what to

do. this is turning out to be not good for them. we didn't get one democrat vote. i just want to thank gary. before me, some rocket ships. you haven't seen that from this country in a long time. many of the jobs we are doing, mike pence is the chairman. many of these jobs are privately financed as we are letting them use the kennedy space center for a fee. rich guys love rocket ships. that is good. that is better than us paying for it. i noticed the prices of the last one, it cost $80 million. of the government did it the same thing would have cost probably 50 times that amount of money literally. when i heard $80 million, i am used to hearing different numbers with nasa. but nasa is making tremendous

knowing is doing what we'ring doing. i don't foe if you saw last with elon, with the rocket boosters they're coming back down. that was more amazing to me than watching the rocket go up. nobody seen that before. boosters came back, without wings, without anything. they landed so beautifully. we're really at the forefront. we're doing it in a private manner. at same time nasa is very much involved in doing their own projects. we're bringing the whole spaceflight back. we'll be sending something very beautiful to mars in the very near future and, we're going to areas that nobody thought possible, certainly not this quickly. we're very proud. they had these outside. they were spread much further apart. i said bring them a little closer so the cameras can see. really amazing what is happening with regard to space and our country. thank you all very much. thank you.

[shouting questions] thank you very much. >> make your way out, please. >> what do you mean by that? >> make your way out? >> basically. i will take that. it's fine. we have defense is so important. we need aluminum. we are negotiating with mexico. we're negotiating with canada and the nafta and depending on whether or not we reach a deal, also very much involved with that national defense. but if we reach a deal, most likely we won't charge two countries the tariffs. we have countries very much involved with trade and also on military, and working together with military. we'll be making a decision as to who they are? we have a very close relationship with australia. we have a trade surplus with australia. great country, long-term partner. we'll be doing something with them. we'll do something wit