tv Varney Company FOX Business March 26, 2018 9:00am-12:00pm EDT
9:00 am
maria: great show, everybody, thank you. have a great day, here's "varney & company." stuart, take it away. stuart: all right, good morning, earn. headline in "the wall street journal," u.s./china quietly discuss trade solutions. investors jumped on that. behind the scenes talks rather than a noisy public fight, just what a beaten-down market really wanted. after the worst week in two years, we're looking at a solid rebound across the board. we are going up, bigtime, a half hour from you, 300 points up for the dow industrials. treasury secretary steven mnuchin has made specific requests from china. he's called china's newly-appointed trade czar on the phone, and he's reportedly considering a visit to beijing. president trump, well, he opened
9:01 am
strong. tough tariffs, he says get that trade surplus down $100 billion. that drew a mild response from china. the two sides are talking quietly. china has been brought to the table, and the market loves it. facebook up a little this morning, full-page ads over the weekend apologizing for the misuse of personal information. this morning there's a reuters poll, it shows just 41% trust facebook on privacy, 66% trust amazon. and apple's tim cook says, quote: well-crafted regulation is needed. well, it is regulation that has facebook investors worried, although the stock is up a little bit this morning. here's my opinion, facebook has a leadership problem. zuckerberg is not a compelling advocate for his company, and that is going to hurt. stay there, please. you're going to love the early stock market action. "varney & company" is about to begin. ♪ ♪
9:02 am
stuart: all right. big national security announcement, we've got it. what is it? >> yeah, and it is big. the united states announcing that they're kicking out a total of 60 russian dip lo9 mats -- diplomats, being expelled. being described as aggressive intelligence collectors. 48 are working at russian embassies, 12 at the u.n., they're going to shut down the russian consulate in seattle. this is all a direct tie-in to the march 4st poisoning of a russian -- or, actually, a british citizen, he was a double agent working for the british intelligence services. he was poisoned, along with his daughter, with a very toxic nerve agent. they are still alive, barely. the u.k. responded, as we know, by kicking out 23 diplomats, and the brits have asked other countries to join in, and the united states doing just that. by the way, the seattle facility, we're told, has nothing to do with any specific threat to that facility; rather,
9:03 am
its proximity to a submarine base and to boeing. stuart: oh, that's it. >> so there's been no specific threat, but that's why they picked on the seattle could -- stuart: president trump moving very much in line with the brits. >> they've got seven days to leave. stuart: and they would love a trade deal with us, the brits and the americans. >> absolutely. stuart: the president's best issue is the economy, new fox poll. 51 percent of those polls approve of the job he's doing. that's a much more positive polling number for the president since the one last october. there is also a tightening race when voters are asked their candidate preference in this fall's elections, the gop has closed the gap on the democrats, closed it significantly. i do want to go back to stock futures, showing you where we're going to open up this morning. big popp coming. it's "the wall street journal" report that we are quietly discussing trade solutions with
9:04 am
china. that's really helping today. look who's here, bill mcgurn. he didn't write that headline, but he is with "the wall street journal" editorial board. do we have grounds to be optimistic that it's not a trade war, that the chinese have come to the table? >> yeah. well, i think, you know, coming to the table is better than yelling at each other and saying we're going to target this industry, and is we're going to target that. we have to see what comes occupant of it. it does show that china seems to be less interested in a trade war. i mean, they announced some products that they might look at, right? but they seem to realize they may be more hurt in this. i mean, there's no real winners, but there could be a lot of lose ors. stuart: but it's not an overt screaming match or -- >> right. stuart: tit for tat -- >> look, i'm against sanctions anywhere, even -- and while admitting that china has many unfair practices, right? but i think sanctions are a terrible thing. in this case if he's using it as leverage to get something else, it could work. but here's the problem, it is
9:05 am
mutual assured destruction. and it only works as a threat. once someone pulls the trigger, the other guys go back -- stuart: well, can i call it a success for the trump style which is open strong and negotiate from a strong position? >> yes, i think you could say that. if it, if it alleviates this trade war, if they actually compromise. stuart: well, we've got a long way to go, obviously. >> right. we don't know what they're going to do. stuart: but they've been brought to the table -- >> and better than europe. when he announced these moves before, europe seemed very eager to respond back with other kind of tariffs, so this is encouraging. stuart: okay. stay there, bill. i want to focus on money. i want to bring in market watcher ted oakley. ted, i realize your stuff. -- i read your stuff. i know last week you said you're not buying this market. now we've got a 300-point jump on a monday morning. have you changed your opinion?
9:06 am
>> stuart, not really. i think, you know, we've had, we get bounces off these lows. weed had one before -- we had one before. and it's not so much we're terribly negative, it's just that prices are so high, you know, there's not much to buy. so we carry a cash buffer right now. stuart: so we're going sideways. overall, this stock market goes sideways for a while, is that it? >> i don't know about that. i think you're fairly vulnerable right now. if you break below those february 9th lows, you know, you probably get increased selling. i couldn't say how much, but i would get you would get more from there, for sure. stuart: you don't have to be so cautious, ted. you think this market's going down some more, and you wouldn't touch it with a 10-foot pole. is that what you're saying? >> you know, stuart, i always liked your questions. [laughter] that is similar to what i'm thinking. [laughter] i wouldn't be so hard on it, but that is similar. stuart: all right. tell me about technology. i read your stuff. you're not keen on tech, are
9:07 am
you? even though that's where all the big money's been made. you don't like it right now. >> well, we own tech that we've owned for a number of years, and we've taken parts of those stocks off. we still own them. new money coming in, it's hard to buy some of them. now, there are some that reasonably look good to us. we still own facebook and things like that. but, i mean, it's hard for us to take a lot of these tech stocks and buy 'em right here because of where they are, and there's a lot of things that don't make any money at all. no, we still own them, but we've taken positions of those out, and for new money we don't do the same. it's a little different for few none. stuart: -- for new money. stuart: give me some advice. i've known microsoft for 20 years, i've done very well. should i sell now? >> i would not sell microsoft. it's one of the holdings we have and one of our dividend growth strategies because i really think -- even if you're going to have a poor market the next five years, if you own companies that can increase the dividend, which
9:08 am
we really feel like microsoft can, you want to keep those companies because they'll give you some added buffer to anything that might happen. stuart: precisely, ted oakley. oh, you're so right. [laughter] thanks for being with us on a monday morning. we do appreciate it, ted. we'll see you again real soon. thank you, sir. >> you bet, stuart, thanks. stuart: we better take a look at facebook. it's up ever so slightly. pep boys now says it's suspending all advertising on facebook. at the top of the hour, a crisis of confidence in zuckerberg, i suppose you could say that. >> yeah. stuart: bill mcgurn back with me again. he merv left the set, basically. -- he never left the set, basically. i say it's a crisis of confidence in zuckerberg. >> yeah, it's for the shareholders to decide. i think facebook has just grown beyond its initial design, they weren't prepared for these things. they are, in effect, one of the world's largest publishers as well, and they haven't put in places the pieces they need for the company that they are today.
9:09 am
stuart: i don't think he does well in public. i'm talking about zuckerberg. >> right. stuart: i don't think he'd do well in front of a congressional -- >> he doesn't instill confidence. >> well, they have to decide what they want. the threat is if they don't do something, the government will. stuart: he's got to say -- [inaudible conversations] >> what we need here is a well-crafted regulation, right? how many well of crafted regulations have you seen in your life? [laughter] stuart: zero. >> where is that, because i'd like to meet one. stuart: i mean, facebook's biggest fear is that they stop or restrict the monetization -- >> right. of the debt -- stuart: -- which they possess. that's their business model. you can cramp that a little bit, and you've got a problem with your business model. >> right. stuart: you won't grow like you used to grow. >> exactly. >> it's kind of interesting, i see some of the fake news on my facebook feed, but i have three teenage daughters, none of them use facebook. they're all on to other things. it's people my age and my parents' age that use facebook. stuart: i'm your parents' age.
9:10 am
>> well, they're very cool people. [laughter] stuart: we are, we are. stay there, bill, appreciate you being with us. tim cook, apple guy, he has, as bill was just saying, he's weighed in on the privacy issue. here's what he says, i think this certain situation is so dire and has become so large that probably some well-crafted regulation is necessary. well, we've been through this. well-crafted regulation, what the devil does that mean? oxymoron. >> right. >> also if the guys at facebook can't solve this, do you really want to have this in congress? stuart: ooh. [laughter] sell that stock. >> watching a separate various in the hands of a chimpanzee or something. stuart: be careful there, be careful. [laughter] facebook is up 1.71, it's at $161. now, this is in the context of a huge upside move for the overall market. facebook up a little. the market generally up a lot. nasdaq composite up 94 points.
9:11 am
look at that s&p 500, a 29-point game. that is a solid, across the board rally. how about this? florida's governor, rick scott, signing a new law that ends daylight saving time in his state. still got to be approved by congress before it goes into effect, but florida could be leading the way in getting rid of daylight saving time for everyone. how about that? do you like that idea? >> i do. stuart: you do, don't you? >> i do. stuart: brown university says if the daca situation isn't fix ld, they will offer a free-of-charge masters program for dreamers or so that they can stay in the country. what do you think about that? full details coming. and president trump reluctantly signed that massive spending bill that no one read. he says it's the last time he's ever going to sign a bill like that. louie gohmert, he voted against the bill, he is next.
9:12 am
9:13 am
when it comes to travel, i sweat the details. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a... ...hotel without breaking a sweat. because we now instantly... ...search over 200 booking sites ...to find you the lowest price... ...on the hotel you want.
9:15 am
stuart: well, look at this. these are the big name dow stocks that will be up significantly at the opening bell; boeing, goldman, cater caterpillar, microsoft, apple. all dow stocks, all going straight up this morning helping the dow to what will probably be at least a 300-point gain at the opening bell. as you know, president trump signed the spending bill to avoid the black eye of a government shutdown, but the president is absolutely not happy about it. roll tape. >> there are a lot of things that i'm unhappy about in this bill. there are a lot of things that we shouldn't have had in this bill, but we were, in a sense, forced if we want to build our military. we were forced to have. there are some things that we should have in the bill. but i say to congress, i never sign another bill like this again. i'm not going to do it again. stuart: congressman louie gohmert with us, republican of texas. he did not vote for this bill. that's louie gohmert. you didn't vote for the bill.
9:16 am
let me get straight at it. do you think it's time for mitch mcconnell and/or paul ryan to go? >> well, i'm afraid this could end up costing us the majority in which case you will have total new leadership in the house. i don't know if the senate likes to hang on to their bad leadership no matter what happens, but it would probably mean new leadership there. but you've got to remember, stuart, when you've got mcconnell, cornyn, schumer in the room from the senate, if you've got ryan, you've got pelosi, i'm not sure about steny hoyer. and apparently the president's own -- [inaudible] there must not anybody in the room that wants the wall, that wants to crack down on illegal immigration, that wants to do the things that got the president elected, that kept our majorities for us. you've got to remember even
9:17 am
within a month of the election in 2016 we were being urged by our leadership to run from trump, and a bunch of us rared up and said you better not run from him, this is your only chance, you better get behind him. so these are folks that didn't really want the things the president did, but they said they were going to support him. well, we see all this time later, about a year and a half since the election, they have not pushed for anything that the president pushed for, and it has hurt the party, it has hurt -- well, i'm getting e-mails, oh, it's time to start another party, the republicans are worthless, on and on. we've got a little time, but when the president says he won't sign another bill like this, this may be the last big spending bill before the next leax -- the next election. stuart: you can't do anything about this one, can you? >> not this one. stuart: treasury secretary
9:18 am
mnuchin is talking about vetoing it by line item -- that's not going to happen. >> right. the supreme court struck down what was tried before. that is tough. i i this it's a good idea -- i think it's a good idea, and that gives the president more leverage when he's talking with legislative leaders, but the fiscal year ends september 30th. stuart: right. >> we're working on next year's fiscal spending bill, and i have a feeling that if they do what they've done in the past -- i don't have a feeling, it's going to be another cr, another omnibus, get us past november. and if happens, then i think we're in big trouble. we have got to force the senate to pass appropriations bills. do a budget, pass 12 appropriations bills. they haven't done it in years. over and over the house passes 12 appropriations bills, we have a budget, and then they come along and say we're not doing any of that because we don't want to take tough votes. it's time for the senate to get some real leadership and stand up and do the things they were
9:19 am
elected to do. stuart: well -- >> and i think on spending bills they've got to get to 51 votes. stuart: that's the secret. >> it costs us hundreds of billions of dollars to buy the democrats. stuart: keep saying, louie. always a pleasure. thanks for joining us, sir. >> thank you, stuart. stuart: yes, sir. it's worth checking the market and how we're going to open up this morning. it's monday following a dreadful week last week. we're going up, 300 points higher for the dow industrials, 30 for the s&p, nearly 100 for the nasdaq. it's a rally. get this, a new york city councilman pushing for a new law that would make it illegal for your boss to respond to e-mails after work hours. [laughter] can you imagine that going over well in a city like new york? >> no. stuart: we will deal with it next.
9:22 am
retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
9:23 am
stuart: if you work 9 to 5 in new york city, a politician, one politician in this city wants to make it so that you don't have to respond to an e-mail from your boss outside of work hours. in fact, it will be illegal for the boss to make sure you responded after work hours. >> and the boss cannot take action against you if you don't respond. now, surprise-surprise, this
9:24 am
comes from a law, where else? from france. [laughter] where they cannot be contacted after hours unless it's negotiated or you've agreed to be paid overtime. so the new york city councilman say, hey, that should work here. stuart: james freeman is with us, let's introduce him properly. [laughter] can you imagine not responding whomsoever is your supervisor, can you imagine saying, oh, i'm terribly sorry, it's 5:05, i cannot respond to you? >> yeah. that's just the world we live in. [laughter] that'd be our favorite thing to do, but, you know, this is one of those perhaps well-intended measures that sounds really nice to employees, but it's really mean if you think about it because what it ultimately does is it penalizes that person who wants to go the extra mile. stuart: absolutely. >> if there's a person, especially at the entry level in this city in media, in fashion, in finance who wants to rise above the pack -- stuart: exactly. >> -- they can't the be the one that's always on those calls all
9:25 am
the time and reliable and setting themselves up for promotion. so it's also, it's hitting small businesses. >> right. >> terrible. stuart: i've just got to leave time for this one. florida's governor, rick scott, signed the measure which would allow the entire state to remain in daylight saving time year round. >> great. they used this right around 100 years ago around the first world war, i think it's long -- it's antiquated and it's not worth it. way to go, florida. stuart: so no daytime saving time. you don't have to adjust your time. >> later sunrise, later sunset all year long are. it seems like a great idea. i don't know why it's just catching on now. [laughter] why not? stuart: if florida is allowed to go through with it and do it, everybody else has to follow suit. >> i would think. stuart: you can't have north carolina or south carolina on one standard and florida on another. you just can't do that. i think we made our point clear on a monday morning. we're going be up at the opening
9:26 am
9:30 am
15 seconds before we get going on a monday morning. it was a terrible week last week. we were down 5% on the major averages, something like that. a terrible down week. that is going to be partially reversed now. look at that. the initial bid is up 301 on the dow industrial. up 330. up 333. it's green on the left-hand side of the screen. every one of the dow industrials is higher. i see call that a sea of green. goldman, open up. come on. it's like st. patrick's day. all 30 of them in the green. we are up close to 400 points on the dow industrial.
9:31 am
we are up 400 points. the s&p, where is that? truly attire. about the same as mount are the dow. they'll be 1.6%. that is a rally. the nasdaq composite is up very close to 22%. very strong rally. let's have a look for the five big-name technology stocks, all of them, nice games today. woke. microsoft up 353. that is 4% ladies and gentlemen. clearly michael soft is leaving the crowd. it was a good investment that i made 20 years ago. ) look at the dow components that are really moving sharply higher. boeing, caterpillar, apple, all of them are up very significantly. that is propelling the market up to a 400-point gain for the dow industrial. one away to open on monday morning. who's with me on a historic day. what's this all about?
9:32 am
why are we up 400-point. >> the headlines over china, there's into the patient not as bad as the trade war might be that china might come to the table and negotiate so you have a market right now that is almost entirely driven by momentum and headlines. these headlines happen to be very good but again we get hit with bad headlines and a market that's priced to perfection has a tendency to sell off on bad headlines. >> so you not going to get carried away with the 418-point gain in the first minute of business. >> not at all. i think investors should not get carried away either because again, we have other headlines. for example, the fed and interest rates and things to take into consideration. this is momentum and momentum could steamroll an investor if they're not careful.
9:33 am
>> we are up 422 points. is there any other reason why the market is up? >> james freeman. >> i think the world wants to trade. investors want free trade and it's almost like a law of physics. we've seen in the past you have markets look like they can run and washington will recede, stocks go up. when it looks like they will disrupt commerce, stocks go down. >> so the big factor is china trade looking okay and away we go. we've got a look at facebook. that was the stock to watch last week. it is up. you have a huge gain for the market overall. a fractional game for facebook. it's only at 159. as we said, it had a rough week last week after the data breach. over the weekend, mark zuckerberg had a series of apologies in major newspapers. there's the question jeff, should mark zuckerberg step down? >> no he should not step down, but he should step up because this apology, this will go down in history as some of the
9:34 am
most lame apologies i've ever heard. basically, mark zuckerberg, who is a very intelligent man, is saying facebook will do better. we need more than that. they are in the harvesting personal information business and when they blow it they have to show some humility and tell us what they're going to do to protect the sensitive information. facebook isn't doing it. this is devastating. >> there's two things. there apology came days too late and when it did, basically told me geez, were trying to better but this information is out there were not who's got it and what they're doing with it, but yes we do welcome regulation which would hurt their business model. so all around, not positive for this social media. also, people are surprised that they are in the personal information harvesting business. they sell a lot of that information and there needs to be restrictions on selling.
9:35 am
>> facebook is now down, it's back to 158. also, got to raise this with you. elon musk, he said he's deleted his own facebook page and that of spacex and tesla, your frowning. is this of any importance whatsoever. >> you're seeing what looks kind of like a pylon. i think political intensity has a lot to do with facebook allegedly being marginally useful to trump. until then, a lot of people in the media and politics didn't care too much. the idea that elon mosque had no idea until this week what business facebook is in and how it makes money, they don't charge us to use facebook. the product is us. they are selling the information to marketers. it's hard to believe that elon mosque didn't know that. >> before we finish with facebook, the market is way up 420 points. facebook has now turned thoroughly south.
9:36 am
it's down a dollar 32. it's back to 158. got it. we are up 425, look at the ten year treasury yield, where is that this morning. pretty much where it was for all of last week, just in the low to 80s. 283 to be precise. general electric, last time we checked it was at $13. share, still at $13. share, going nowhere. dropbox, that debuted friday. it did extremely well friday. it's up again this morning. it's about 2%. dropbox at 2880 right now. fedex says it's reserving, placed on order 20 of those tesla electric semitruck's, tesla is up, fedex nice gain, six dollars higher 235 on fedex. again, let me show you the big tech names because they're always worth checking. the only one down his facebook which is now down $2.23. it's back to 157. >> a market is up 400 points. precisely. amazon is up $35.
9:37 am
google is up $29. apple is up three dollars. microsoft, don't you love it, up $4.57. share. i want trumpets next time for microsoft. apple try to win back students and teachers with a low-cost ipad. i guess microsoft has been stealing some of that business. >> they both own the sector. this is a good thing for apple. but like most good things for apple, they are announcing it about three years too late. >> and are they just clearing out inventory of old models. >> this is the sector of education they used to own and i think google especially has made great headway, lots of public school systems using them for e-mail, the kids work on documents so there is a bit of catch-up but apple, they're not known for having the
9:38 am
discount so i would say overall, maybe not a completely positive move even if it is overdue. take a look at snap. a model and someone who is described as a person of influence online, chrissy teagan has revealed that she no longer uses the platform. another celebrity stepping away from snap, is that a big deal. >> your wondering if this is kind of a moment of political storm, she is another person who is very sophisticated in the use of social media and has gotten a lot of success that way. she really built her celebrity with it. like elon mosque is she really unaware of what the business models are. i doubt it. it gets to the mark zuckerberg thing. >> it does have a big impact. for kylie jenner, she has a
9:39 am
multitude of followers and when she set off, $1.3 billion loss in market value just by that. check that out. the rihanna, chris brown ad that was considered in very bad taste, that, another 800 million wiped off the value. we don't know what the christie teagan thing is but she's very popular married to john legend, this is another very big, bad blackeye for snap. >> clearly a person of influence to begin with that kind of mone money. if you say i'm out here, a lot of people follow you. >> more than us. >> let's not get carried away. [laughter] >> time to look at disney. families may be able to get free dining for the children. that would be a big expense. mind you, they just put up the price of entry. >> i like disney, but what
9:40 am
they're doing is they've actually, they are letting children eat free, but they've raised adult prices so if you really look at the savings, the savings is less than zero. so i don't think people should get excited about it, but disney is using it to bring people to the park and it makes sense. >> disney is not back $200. share yet. we've got a riproaring rally and a precise at that moment i have to say goodbye to james and jeff. thank you very much for joining us this morning. look at that rally. we've reached 24000. the dow is up 470 points. that's a rally. our commentator is saying that is largely because of progress away from a trade war with china. china is at the table and talking. that's considered good. united airlines bumped a
9:41 am
passenger on an oversold flight. the passenger complaints, you not going to believe what united did next. we will have details. new rules going into effect in massachusetts, starting today. if you can't prove you are in the country legally, you can't get a drivers license. very different from california. we will sum up at one after this.
9:43 am
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 ♪ i should sound the trumpets anyway because moments ago we hit plus 500 for the dow jones. thank you very much indeed. 493. 24027. that the 2% gain. now the spread netflix banned from competing at the cannes film festival. nicole, tell me why.
9:44 am
>> the palm door that is the highest award at the condom festival, it's highly coveted and netflix will not get the chance to receive this. the stock is up 4% but the condom festival for films that are shown in cinemas, last year they had netflix in there but they said no more. they did not agree to put their films in cinemas. they are just dreaming, and in that case they are not eligible. we had unions and protesters and filmmakers and worldwide uproar that they were not supposed to compete in this type of competition so this year it looks like they are out of the condom festival. >> it's the unions that did it. that's what this is all about in my personal opinion. about this one. we alluded to it earlier. united airlines gives one passenger a 10000-dollar travel voucher. give me the story. >> why can't this happen to me. her name is allison paris. she was on a flight out of
9:45 am
dulles and they were informed that we overbooked this flight therefore they go to the lowest fare passenger first and they say we will bump you off this flight. there's too many people. she said fine, give me cash. no, i want cash. she said no. it went on and on, she got a $10000 travel voucher. she wrote, on the upside, i wasn't physically dragged off the plane and my dog wasn't killed so i have that going for me, she said. the judge you just heard is going to examine the story for us. starting today, massachusetts, you need that mentation proving you are a citizen to get or renew your driver's license. that used to be the role always across the country it once was the rule state-by-state but all states followed it. that now is a federal baseline so the federal government in
9:46 am
2005, in response to 911 in acted the real id act which required certain biometric information to be recorded by the state and put into the new drivers license. the state said we can afford this, we can't pay for it. instead of giving them the money, the fed said take 15 years to put it in. so even though this was enacted in oh five, it's not required until 2020. massachusetts is starting and now in jersey started it last year. another part of the baseline is that in order to get the license or get it renewed, you had to prove citizenship. so what happens when it gets to california? as ashton was saying, maybe california will be part of the united states in 2020. >> in all seriousness, let's get it right. the states have to conform by 2020. california is absolutely not conforming. >> the penalty for not conforming does not fall on the states. it falls on the individuals
9:47 am
who carry the nonconforming drivers license, and that penalty means you can't get into a federal building with that driver's license. you can't get on an airplane with that driver's license, but you can drive a car anywhere in the union with that driver's license. >> trouble coming for california 18 months from now. >> do they really care what problems people in california will have five years from now because he could solve it today. i myself condemned the real idea that fed should have no business telling the state how to manufacture an issue there driver's licenses. but that's the law and we will see what happens in 2020. i'm also shocked that new jersey, as you and i are in new jersey, we have these drivers license in the people's republic of massachusetts has taken all this time. >> two lawyers hired to join president trump's russia legal team are backing out. the president tweeted this.
9:48 am
many lawyers and top firms want to represent me in the russia case, don't believe the fake news now. it is hard to find a lawyer who wants to take this on. fame and fortune will never be turned down by a lawyer though some are conflicting. >> this is a very serious issue for th the president but i think it's exactly what the president need. the chief federal prosecutor for washington d.c. understand how the government works. he the tiger in the courtroom and the government fears and respect them. gone. he should never have put his name in the ring. why? you can believe us. he represents a witness who is testifying for bob muller against the president of the united states. how can he possibly start representing the present. it can be done. he had a conflict that's nonwaivable. he should've allowed his name to be put up in the beginning. the president is left with one full-time lawyer. bob muller has 13 experienced federal prosecutors and three dozen experienced fbi agents.
9:49 am
one full-time lawyer for the president. does he not take this seriously? >> i don't know. i don't know either. i have known him for years but he's a lovable person, i want him to succeed and i want the american people to have the president they elected, but this is serious. this bob muller stuff. he has to defend himself. >> thank you. look at the spread we are up 500 points for the dow industrials. it opened just 19 minutes up, 503 points, 29 of the dow 30 are in the green. they are up, one loser and that is general general electric. brown university says it's going to offer tuition free masters program, but if you want in on the action, you have to be living in this country illegally. >> come on. >> if you're citizen, you're out. illegal, you are input we will
9:51 am
9:52 am
an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like any medicare supplement insurance plan, these help pick up some of what medicare doesn't pay. and, these plans let you choose any doctor or hospital that accepts medicare patients. you could stay with the doctor or specialist you trust... or go with someone new. you're not stuck in a network... because there aren't any. so don't wait. call now to request your free decision guide and find the aarp medicare supplement plan that works for you. there's a range to choose from, depending on your needs and your budget. rates are competitive. and they're the only plans of their kind endorsed by aarp. like any of these types of plans, they let you apply whenever you want.
9:53 am
there's no enrollment window... no waiting to apply. so call now. remember, medicare supplement plans help cover some of what medicare doesn't pay. you'll be able to choose any doctor or hospital that accepts medicare patients. whether you're on medicare now or turning 65 soon, it's a good time to get your ducks in a row. duck: quack! call to request your free decision guide now. because the time to think about tomorrow is today. i will call this a rally for the overall market. we just hit up 500 points for the dow, well above 24000. going the other way, facebook got hit again.
9:54 am
they opened ever so slightly higher and now it's down to dollars and change. 156 on facebook this morning. then we have this, brown university recently pledged to offer tuition free fifth-year masters program for dreamers in the event that the government can't fix daca. free program for illegals. driving is now campus reform.org media director cabot phillips. just me play devils advocate. you could say that students qualifying for masters program should be in america. we don't kick them out to bring them in. by this logic, if it's free, everyone will apply for masters program and it's not even just the tuition at the giving for free, but also going to give students a fully subsidize healthcare, giving them additional stipend for any other costs that are incurred. why stop there. let's go to free cars and iphones. >> that's absolutely, no tuition, $68000 a year waived,
9:55 am
free healthcare. so we asked the school who can pay for this and where will the money come from and they haven't responded yet. i think americans are all over the place and what they should be done with dreamers. i do think most americans agree our college system should be based on merit. people who most deserve it, not just something they can control. it's also important to point out, what kind of methods is us telling your student. this is the same school at brown. you can now self identify as a person of color on your application process. i wonder now students are going to self identify as dreamers because it's going to be financially beneficial for them to do that. >> brown university have to get some kind of taxpayer relief of some sort. they've got to get some government money. >> maybe not as much direct funding as if they were a public school but they get millions of dollars in tax
9:56 am
breaks because of their private school status. they're not allowed to single out one group of students for special treatment, but that's exactly what they're doing. >> yes and it seems to be more politically motivated than anything. this kind of thing is shocking to many americans petition be surprising if you cover college news. we reported university of new hampshire, $29 given out to daca students. ucla our special doctor programs around the country and this is kind of a growing trend where people my age and next generation is very lax when it comes to immigration policy. i was down in texas and students told me they want open borders, they think borders are opposite of what america should be about. students say the idea of the border wall is based in racism for the republican party and their hard-line stance that donald trump got elected on is not looking too strong with the next generation. think a lot of that is because many people don't understand the idea of the rule of law in the first place. >> thank you, sir.
9:57 am
huge day for your money. a big bounce for stocks. look at that. up 480 points. this is largely because we are talking trade with china. the hard-line seems to be showing some results. more on that, top the hour, coming up. what do you mean my heart? the truth is, type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. and with heart disease, your risk is even higher. but wait, there's good news for adults who have type 2 diabetes and heart disease. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease alower your a1c. . . s
9:58 am
stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. do not take jardiance if you are on dialysis or have severe kidney problems. other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. tell your doctor about all the medicines you take and if you have any medical conditions. so-you still just thinking about your a1c? well no, i'm also thinking about my heart. now it's your turn to ask the serious questions. ask your doctor about jardiance. and get to the heart of what matters.
9:59 am
10:00 am
all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances. stuart: he has been on the job for 14 months. he has had his shares of failures and disappointments. he is going with his gut instinct. let trump, trump. you are seeing trump unleashed. he never liked the iranian nuke deal he was constrained by the state department's rex tillerson. tillerson is now gone. that nuke deal is likely to be thrown out and soon. he campaigned against china's unfair trade practice. he was constrained by top economic advisor, gary cohn. cohn is gone. the administration has taken a very strong negotiating position right up front. according to
10:01 am
"the wall street journal," china is quietly looking for trade solutions. trump brought them to the table. then there is the spending bill. the president really did not like it. oh, he is not happy with the politicians who came up with it. now he says he will not sign anything like that again. you get the impression that donald trump has had it. he is done playing defense with robert mueller. he is done with the endless leaks and he is done with cabinet members who couldn't quite go' long with the trump revolution. there is a new team in place. it reflects the president's ideas. it reflects donald trump. if anything, running the country will become even more after trump show than it has been already. the president is supremely confident. he thinks he is dead right. certainly on economic issues he has been dead right. deregulation and tax cuts did produce a surge in growth and employment. just as he said they would. and on china, he is right. they have been stealing our technology and keeping us out of
10:02 am
their market and the president has to take a strong stand to get things even part way fixed. he started. so what will the unleashed trump do next? more tax changes. he is already pushed hard for that. build the wall, it will be a fight but he wants to start building now. and fix immigration. he has got a plan. the democrats do not. this is really all about the november elections. the president is confident that an unleashed trump is a winner. as we will tell you in our next hour his standing in the polls is rapidly improving. the second hour of "varney & company" is about to begin. ♪ stuart: yes, it's a rally, very solid rally. 2% gain. the dow is up chose to 500 points. the big technology companies which have taken it on the chin recently are all on the upside,
10:03 am
except for facebook, special case there. all the others, amazon is up 36 bucks. microsoft is the star performer among the big techs. that is a $5 gain. 5% higher for a company like microsoft. >> 6%. stuart: morgan stanley raised target price for microsoft up to $130. ashley: look at his smile. [music] stuart: by the way that investment bank says more companies use microsoft cloud services, that is a big deal. facebook is having another fad day. it is down three bucks. that is 2%. it had its worst week in six years last week. no bounce for them today. boeing, one of the biggest winners is a dow stock of course. it delivered the newest and biggest dreamliner, 787-10.
10:04 am
18 feet longer than the dash nine. it is $7 up for boeing's stock. tesla, elon musk will launch tesla maps next weekend, an upgraded navigation system, that is. fedex is reserving 20 of those electric semitrucks. tesla was down a lot. just above $300 per share. who is with me on an historic monday morning? that man right there, look at camera, gary. gary kaltbaum is the man. you don't believe in this, do you? you don't believe this is any kind of solid bounce. you would still be on the sell side, right? no look, i think we're in a process that started late in january and just keep in mind. this is an outcome, not just, we can talk bad things, but we had a gargantuan 15-month run. the numbers were like five to six years of gains. part of it has to do with the
10:05 am
fact we had gargantuan. ran a little too far. market is saying maybe slowdowns, things like that. bearish action does happen. a gap to the upside, 4 to 500 points is actually not the greatest thing to see after 1400 point drop. big money can sell into it. you have to be careful. stuart: gary, take your point. tell me about facebook. it is, it is all the way down this morning. it is down another, look, 355. facebook is back to 155. i know it's a special case because of all happening in the background here. how do you feel about facebook? >> i have one thought, cross-hairs. facebook is in the cross-hairs. we have been finding out they are logging our phone calls and texts, they were telling us we were supposed to know they were logging our phone calls and texts. i didn't know it. i'm sure most people didn't know it. i think mark zuckerberg will end
10:06 am
up in a little bit of a hot seat because i don't think he has done a great job. i think, the nasdaq up 130, 140, the fact the stock down 3 1/2, quite he telling. big money is selling knowing there are issues there. stuart: do you think mark zuckerberg should go? >> i couldn't tell the guy to go. he better do better. that was less than stellar and slow coming out. he played too much, what i call the victim. if i'm a great leader, i don't take blame the apps, no, we have to investigate ourselves. we have to do better and i think he failed in that. stuart: got it. gary kaltbaum, thank you for joining us sir, thank you. >> thank you. stuart: back to the editorial i delivered at top of the hour. president trump doing things his way. seems to be working. come on in, david hoppy, with is
10:07 am
had former chief of staff to paul ryan. do you agree with him, now trump unleashed? he has the team in place he wants? this is the trump presidency writ large, he is going forward with his gut instinct, do you agree with me? >> i agree with you, stuart. he is doing that and some of the people he brought in reflect his views and closer to some him than some of the original people in the cabinet. that is, very good people coming in. mr. pompeo, of course ambassador bolton and others. i think larry kudlow would be a great edition. these people are more in sync with president trump. stuart: they are very much in sync with policy ideas, as opposed to trump the man, trump the performance, trump the tweet account. as opposed to trump's policies. they're very much, then letting trump be trump i suspect? >> i think that is exactly right. they understand his policies. in some ways better than the previous group that was there. they are very sympathetic to
10:08 am
them. what he has done on trade has shown flexibility, but strength. if you look at what needed to be done, frankly the chinese took the wto and other other countries in the wto to the cleaners for years and years. united states said you can't do that there are rules how you conduct yourself here. i'm hoping they will be joined by allies. that is part of what ambassador bolton and trade team will be doing. stuart: you used to work closely with speaker paul ryan. >> i did. stuart: speaker ryan was very much part of this new spending bill which the president absolutely hates, which many republicans really don't like either. do you think it is time for paul ryan to go. >> no. the spending bill was set, frankly a month ago. what they did is just implement that. now there are other things that have to be done. the republican congress can't sit and wait for election to be done. they have to make family cuts
10:09 am
made in the bill. make those permanent. second thing they should get a fundamental change in health care. it can be done. there are outside center right groups working on a plan. that plan will be the citizen freedom and choice act which will allow people to have more control over their health care and by allowing the states to have more control over health care. i think they have to move forward on some of these things in the congress. stuart: on health care, is that the way that obamacare is finally dead and gone completely? >> i think it is the fundamental change which will put people back in charge of their health care as opposed government being in charge of their health care, yes. stuart: ryan stays you think? >> >> oh, yes. stuart: i understand. big hour for you on "varney & company". president nicolas maduro threatening to take away food from the poorest and vulnerable
10:10 am
if they don't come out to the polls. doesn't look like he is going out without a fight. we'll have an update on the situation. president puts ohio on notice. congressman gem renace voted know on the spending bill. he is with us later this hour. stuart: nfl owners are divided on how to handle the anthem protests. fox sports 1 jason whitlock will joins us. you're watching the second hour of "varney & company." ♪ my parents made love. and i screamed into life. ♪ did mom give me too much freedom? did dad make me lust for too great an adventure? my scars and bruises tell their own story.
10:13 am
10:14 am
venezuela, the country struggling with food shortages. the president nicolas maduro is using food as a way to get people to vote for them. he threatens, i'll take the food away if i lose the forthcoming election. "blood profits" author vanessa neumann not our reporter on the scene but has knowledge of what is going on there. what outside authority gives food to maduro which he then gives to bribe the people with? >> ah-ha. he put the military in charge. i blocked about it almost two years ago. he put the military in charge like all other means of production in charge of food distribution. the minute i saw that i knew it was recipe for corruption. it absolutely is. so they basically find ways to buy the food on international market, some of it comes through suppliers in miami. a lot of this comes through suppliers in miami or mexico or
10:15 am
central america or other countries in latin america. the military buys it and sells it. but in that transaction, they're taking a huge cut. so that is one of the ways he keeps military support and also using it to keep support from the people. starvation and corruption. stuart: we asked you many, many times, when is this guy going? when is the guy going? i have to answer my owe own question. this guy will have to be carried out? >> unfortunately that is right. he announced these elections for these, elections, which nobody thinks is real and has been condemned by international community for may 20th. he is so sure he will win the elections, that he already announced he will change the currency after the elections, january 1st, which he knows he will be president. so now there is a push to try to get some, get change going before then. there are talks that you know,
10:16 am
military might revolt. only way you get the military to revolt, cut off the money. cut off the oil money and cut off the food money and also sanction them for their drug trafficking. those are the three main sources of income. that is what is keeping them from overthrowing. stuart: is there any sign america takes action in those three areas, enough is enough, that's it? >> it is no secret, it has been publicly issued by the white house that they are considering sanctioning the entire oil industry and this is a huge discussion, not only all over latin america but in the international business community, what is going to happen if they sanction all of the oil? the u.s. hasn't quite done it because considered to be really radical, and what will the humanitarian -- will it worsen the humanitarian situation? so they're considering that. stuart: would you be surprised if the trump administration turned around and said, enough's enough? no more oil? >> you know what? they keep saying that is what
10:17 am
they're considering and they keep saying they're moving towards that. i think they're assessing it and inching towards it. with the changes in the white house, with pompeo and state and now bolton in, i think we'll see much harder line toward venezuela. so we all, we all oil industry and venezuela observers think it will happen. stuart: have it back when it does and about to happen. >> okay. thank you. stuart: see you soon. all right the expulsion of russian diplomats going on all around the world and america led it this morning. tell me what happened? ashley: the u.s. kicking out 60 russian diplomats, 48 from russian embassies and 12 from the united nations. they will also shut down the russian consulate in seattle? why? no specific threat because it is close to a submarine base. and boeing. all in solidarity with the uk,
10:18 am
who had poisoning case, military-grade poison used on ex-russian who lives in the uk. they're still fighting for their life. it is starting to pick up momentum. many across the eu joined. germany, france, italy, kicking out russian ambassadors. 14 eu nations are throwing out at least 30 russian diplomats. conditioned today just jumped. they will expel four. this is sending a strong message to moscow. what is going to happen? moscow will see each one of those diplomats and throw out a like one from russia back to their home country this is tit-for-tat. it is a message. and a show of solidarity to the uk. stuart: exactly. show of solidarity with the uk. america taking strongest action. 60 diplomats. there is a lot of opportunity here for a deal with the brits on trade. >> oh, absolutely. stuart: they want to trade. european union doesn't want this
10:19 am
bilateral thing. ashley: that is their mantra. that could come out of this. stuart: indeed it could, expulsion of russian diplomats by the united states, it could be a trade deal with the brits. they're linked. how about this? the fight to be the best in self-driving? alphabet's waymo division said a crash like uber's in arizona would never have happened with their technology. there is a statement. we're on it. pack in a second. whoooo.
10:21 am
when it comes to travel, i sweat the details. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a... ...hotel without breaking a sweat. because we now instantly... ...search over 200 booking sites ...to find you the lowest price... ...on the hotel you want. don't sweat your booking. tripadvisor. the latest reviews. the lowest prices. retail. under pressure like never before. and it's connected technology that's moving companies forward fast.
10:22 am
e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
10:23 am
stuart: at lettic issue retailer, agreed to be bought by britain's jd sports will pay $558 million. no surprises the stock is up nearly 30%. now this. head of alphabet's self-driving car division, that is waymo, he said the fatal crash like the one uber had in arizona would never happen with their waymo technology. lauren simonetti joins us now. what is the difference between uber's technology and waymo's technology? >> there was a lawsuit just settled last month. waymo sued uber for stealing something called lidar technology. that is the top on the mount of self-driving cars that can see, far, far ahead of it. 300 plus yards. stuart: a scanner. >> it has ability to not openly scan objects but detects pedestrians and detects the position pedestrian is taking. stuart: waymo has that, lidar?
10:24 am
>> uber is not supposed to use it. they have also logged more miles on public roads, five million, versus 3 million for uber. so they have the experience for so john says, and they have not yet suspended any of their testing on public roads and uber has. so we'll see. stuart: i guess theoretically they are ahead in the battle for the self-driving business? >> you can make that argument. stuart: promoting themselves? >> this is interesting though. there is a company called veladine lidar, that supplies sensors in the uber vehicles. they say they are baffled what went wrong. how this vehicle struck this pedestrian? was there issue with uber's software? whatever the result of these investigations going on, is uber going to share that with the public because every self-driving car company is in the same position right now. you have to convince the public after they see someone die from a self-driving car -- ashley: get their confidence back. >> will they get their
10:25 am
confidence back. should they share the information. stuart: waymo self-driving cars have gone five million miles. that is a pretty good trust factor they built up right there? ashley: there is another issue. waymo cars average nearly 5600 miles before a human has to intervene. which is very good, right? how much does uber average? under 13 miles before a human has to inter screen because it turns out uber vehicles, autonomous vehicles have problems driving next to big vehicles like big rigs. throws them off, threw construction zones. you know, the huge, the uber driver, that we saw on that horrible dash-cam video before the fatal crash, they're supposed to hover. they are really supposed to be ready to jump in at a moment's notice. what we saw in the video. >> nodding off. ashley: looking down, not paying
10:26 am
attention. not -- stuart: reliability. >> taking minder or person in the driver's seat in autonomous vehicle putting them in the back of the car? i don't know if they go through with those tests. stuart: we shall see. at the moment you say waymo, google, leading? waymo? got it. stuart: march madness i'm familiar with it. underway. the final four set. the real winner may this be lady on your screens right now, a 98-year-old nun. sister jean, the chaplain to one of the final four teams. cnn appearing in 20 of the 25 busiest airports in america. it was thought to hold near monopoly because they were impartial when it came to the news. i have a little disagreement with that not in the trump era they're not. we'll have that story coming back.
10:30 am
♪ ♪ she's got a ticket to ride stuart: not bad. you know -- ashley: boy, you are picky. stuart: i am, i am picky. it is the false set toe voice. ashley: that is what it was. stuart: i'm afraid we lost some of the rally. we were up 500, first 10 or 15 minutes. now we're up 350. it is still a rally, not quite as strong as it was. how about the big tech names? have they lost any gains? no. amazon is up 29 bucks. microsoft is up nearly five. huge gain there. google up 11. apple up three. we have facebook on the downside. we'll bring more on that later. look at general electric. oy. $12 a share. lowest level since july of 2009. whoa. taking it on the chin, $12 a
10:31 am
share, general electric. cnn on the tv screens at 20 of the country's biggest or most important 25 airports. they're facing scrutiny though the argument had been, was cnn impartial. is that why they're in all of these airports? they don't offend anybody, or do they? not so much in the age of trump perhaps. we'll see. media madness author howard kurtz joins us now. howards i don't think cnn is impartial, but i wonder was impartiality written into the agreements they signed to get into the airports in the first place? >> i'm sure it had nothing to do with editorial content. these are business deals. stuart, i believe in the free market. if cnn wants to pay hundreds of thousand of dollars, to rent these tvs like renting a billboard in times square. i don't have a problem with it
10:32 am
and another company can come along and replace cnn. stuart: airports, could say, we better be fair and balanced, we bring in somebody else. they could do that couldn't they? >> i think you would be a very effective spokesman to make that argument. stuart: cnn is supposed to be impartial. i'm a founder of cnn, lou dobbs and i got the whole thing going. we were the first to broadcast from income, 1980 june. we covered the news. that is what we did. i don't think that is true of cnn any longer. how but, do you? >> there is no question cnn moved sharply in an anti-trump direction. that has been a good financial decision for cnn. it really gave something up. it was considered the down the middle network, reporters network, with a lot of not a lot of big idealogical hosts that has changed under jeff zucker in the last couple years. stuart: the media, this is my opinion now, howard, the media
10:33 am
fawned over the student march over the weekend in the aftermath of of the parkland, florida, shooting do you think the media was partial or swayed to one side? >> i certainly don't think msnbc was impartial. i saw a lot of coverage. msnbc news anchor, said nra buys people. joy reed, one of most liberal commentators on that network, working as a street reporter, asked a bunch kids who is in favor of a assault ban? me. i saw cnn i thought they were covering an important moment. huge turnout in washington and also cities across the country. obviously when you have a march for a cause, you get a lot of the message from that cause and obviously the parkland high school students getting a lot of attention. i wouldn't say everybody was fawning but certainly some elements of the media were. stuart: the idea of a news channel following a particular
10:34 am
course of politics, that doesn't seem to be alleviating at all. the news channels are not moving back to a middle position or apolitical position. i think it is actually getting worse. what say you? >> yeah, but i don't any problem with it on evening prime time, clearly labeled commentary and all that. when you have a news event, where you stand on the question of guns this was a pham none across the country. the young people who are protesting showed great passion. you had to cover it. it is a big story. it's a story that president trump had embraced we need to do something about gun violence. now it is not clear that much is going to pass after all. but i just think there should be a line between news and commentary. i have no problem with opinion but on a day time event where you're presenting it as a news story, you ought to cover it as a news story. stuart: back in the day, probably before your time, howard, i used to watch walter cronkite, it never occurred to me the man was on one side of the political aisle or the other
10:35 am
but i don't think that kind of broadcast would sell these days, what say you? >> i used to watch walter cronkite as well. i got to watch walter cronkite after he retired. you wouldn't know, he came out afterwards was a pretty liberal guy. you wouldn't know that from the "cbs evening news.." that was day of three broadcasts and couple major newspapers and magazines. there is so much opinion on our phones, opinion, analysis, commentary is what market rewarded. i don't even know a walter cronkite could get market share, doing a straight read, down the middle news. stuart: i'm an opinion show. we've been rewarded with great ratings. howard kurtz, thanks for joining us. see you real soon. did you know the nfl owners are gathering for the annual meeting? did you know they're quite bitterly divided on the kneeling protests. jason whitlock is with us, fox sports 1, "speak for yourself" host. what is the division?
10:36 am
i would have thought the owners want to bring football back to mainstream, make it popular again, get the ratings up. what is the two sides here? where is the division? >> the division, varney, there are some people that are offended by the kneeling, and i think that is probably the overwhelming majority of ownership, but they counter that, if you pass a rule at this point, media is so rigged that the bad publicity from passing a rule demanding that the players stand for the national anthem could be overwhelming and so they're trying to strike a balance where the players actually understand it is in their best business interests to stand, and best business interests of the players of the national football league to stand. they're trying to have a compromise decision rather than having to come down with a steel fist and demand that the players stand. stuart: i don't see the compromise. you either stand or you don't.
10:37 am
>> varney i tend to agree with you but if i were running a national football league team and was the commissioner of the nfl i would be looking probably for a compromise position because again these players are so young and so controlled by social media that if you pass a rule that they have to stand it is going to provoke more of them to kneel. these guys want to please their twitter following, their social media brand, they want a virtue signal and pretend they're taking a great stand for equality. they're kind of hooked on this and owners understand it and if you pass a rule you're going to make their addiction to this type of social media branding even more acute and so i just think the nfl is trying to walk a very fine line. stuart: but i think, whitlock and varney, are in agreement on this and the agreement is, you
10:38 am
stand? >> absolutely. stuart: thank you. okay. took us two minutes to get there but i'm glad we got there, whitlock. now the final four, ncaa, it is all set but why is this lady, this is sister jean the nun from loyola, why is she getting so much coverage? she is what, 98 years old? >> look i think it's a cute story and it is a feel-good story, but i also think it speaks to there is such a talent drain in college basketball because they don't produce the huge stars like they used when kareem abdul-jabbar would stay in college for four years, when bill walton and other, patrick ewing and allen iverson, michael jordan, had these illustrious college careers you could build the storylines around actual superstar players. now you have to look elsewhere and sister jean, 98 years old,
10:39 am
her involvement with this basketball team that came from out of nowhere. loyola is the ultimate cinderella story, it's a cute story, a story that would attract my mom, your mom, the casual fan, so sister jean is kind of our replacement for michael jordan in college basketball. stuart: that is a food explanation, whitlock. it sounds like we're being manipulated a little bit, isn't it? >> are you dissing sister jean, varney? she is a superstar, a megastar. everything that dick vitale dreams about. stuart: in that case, we'll invite her on to the program, and get the ratings higher than they are now. whitlock, your time is up. >> thank you. stuart: more cities in california looking to be like lowe's alamitos opting out of the state's sanctuary city law.
10:40 am
10:41 am
10:42 am
♪ ashley: in the last hour we spoke with texas congressman louie gohmert and he believes that the current leadership is hurting the republican party. roll tape. >> within a month of the election in 2016 we were being urged by our leadership to run from trump and a bunch of us reared up and said you better not run from him. this is your only chance, you better get behind him. these are folks that didn't really want the things the president did and, but they said they were going to support him. well we see all this time later, year-and-a-half since the election, they have not pushed for anything that the president pushed for and it is hurt the party.
10:44 am
and with godaddy, i'm making my ideas real. when i created my businesses, i needed a way to showcase it. ♪ with godaddy you can get a website to sell online. and it will look good. i made my own way. now it's time to make yours. get started at godaddy.com ♪ everything is working, working just like it should ♪ stuart: look at this. it just happened facebook taking another tumble down to 151. ashley, we're going through this together. what have we got? the ftc is investigating? ashley: they will investigate facebook into their privacy practices. i was reading the state that has just come out. basically they say look, we're fully committed to protect the privacy of consumers and we can use that with tools of enforcement action to companies
10:45 am
that fail to comply with privacy promises or privacy shield or engage in unfair acts that cause substantial injury to consumers in violation of the ftc. in other words, they will get into how facebook tries and obviously fails in some cases to protect your data, your information. stuart: wow. ashley: what is the expectation of privacy with facebook? stuart: what is the expectation? did you get it right? ashley: this is not good for facebook. another aletter. stuart: i have it down $8. around 151 per share. it took a tumble when that news from the fcc was announced that stock took a tum pell t was 158, 159, it was suddenly back to 151. look at that. ashley: yeah. stuart: get back to the spending bill, where president trump said he would not sign anything like it ever again. >> there are a lot of things i'm unhappy about in this bill. there are a lot of things that we shouldn't have had in this
10:46 am
bill but we were in a sense, forced, if we want to build our military we were forced to v there are some things we should have in the bill. but i say to congress, i will never sign another bill like this again. i'm not going going to do it ag. nobody read it. stuart: he doesn't like it. ohio congressman jim renace joins us now. congressman, you did not vote for this. what happened here? >> stuart, again 2200 pages less than 12 hours, it is something -- i don't know how i could have ever voted for something when i didn't know what was in it. i didn't have a chance to read it, and again, it's a process. it's a broken process. stuart: should we, should we be saying good-bye to mitch mcconnell and paul ryan, leaders in the senate and the house? >> well, look, again i think the people will have to make that decision in the end. they have tough jobs. they have to bring people together. i really do think in the senate the biggest issue is the 60 vote
10:47 am
threshold. the problem it is not in the constitution you need 60 votes. we look towards pleasing seven or eight of those in the minority to try to get something like this passed. that is the real issue. stuart: so do you see, i mean look, this is a spending bill that carries us through the end of september, september 30th, you have to do something else. at that point, do you think that's the point where we introduce, you need 51 votes to pass this thing, that's it, get on with it? >> i think we have to do a couple things. we need to pass budgets in the house and senate. we need to do appropriations bills in the house and the senate. we need to bring that process forward. stuart, this is a process issue. we have to foal a process. we haven't follow ad process. one thing frustrates me in washington, there are processes in place. we don't follow them. stuart: but the process has become so involved. it is so detailed. there are some motions. do we start to discuss, do we end the discussion.
10:48 am
it just goes on and on and on. wasn't it bob corker who stood up on the floor during the senate debate on this, said, look, i'm tired out. i'm angry. i'm fed up with the process. that is what is going on, isn't it? >> well, no, the process is, you do all that debating on the budget. you do all the debating in the appropriations bills. once you get them passed you move them forward. the house at least passed budgets and passed appropriations bills. the senate hasn't done that. that is one of the reasons senate can't get it done, the 60-vote cloture rule needs to be changed. that is the focus. the house is passing bills. the senate is not getting past the 60-vote cloture bill. when i go home, they're frustrated with us not getting things passed out of the senate. they're frustrated with us not getting the trump agenda pushed through. they're getting frustrated this place is not following the profits ses. those are things we need to get done here in washington is is this now, is the republican party, now donald trump's
10:49 am
republican party? >> well, look, president trump came out and said he was unhappy with the bill. i'm glad. a lot of people back home wanted him to veto it, they wanted him to say we need you guys to get back here to fix this. in the end i will not say it is his republican party. he wants to move the process forward. as he said he will not sign another one of these things. i'm glad to hear that. people back home are glad to hear that too. stuart: gem renace -- jim renace, thank you for being with us. stuart: pep boys,. ashley: manny, moe and jack. stuart: manny, mow, jack, they say they're suspending advertising with facebook. they could be the first. could facebook's problems change the way companies promote themselves online? we're on that one. ♪
10:50 am
10:51 am
10:52 am
here's why. medicare only covers about 80% of your part b medical expenses. the rest is up to you. you might want to consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like any medicare supplement insurance plan, these help pick up some of what medicare doesn't pay. and, these plans let you choose any doctor or hospital that accepts medicare patients. you could stay with the doctor or specialist you trust... or go with someone new. you're not stuck in a network... because there aren't any. so don't wait. call now to request your free decision guide and find the aarp medicare supplement plan that works for you. there's a range to choose from, depending on your needs and your budget. rates are competitive.
10:53 am
and they're the only plans of their kind endorsed by aarp. like any of these types of plans, they let you apply whenever you want. there's no enrollment window... no waiting to apply. so call now. remember, medicare supplement plans help cover some of what medicare doesn't pay. you'll be able to choose any doctor or hospital that accepts medicare patients. whether you're on medicare now or turning 65 soon, it's a good time to get your ducks in a row. duck: quack! call to request your free decision guide now. because the time to think about tomorrow is today. stuart: as we said earlier, pep boys, manny, moe, and jack, car
10:54 am
people, they're suspending their ads on facebook. they're concerned that facebook has not done enough to address users privacy. brian manning with us, looking at this backwards and forwards. he is with centric digital. do you think more companies will do what manny, moe, and jack the pep boys have done? >> many smaller companies announced this unclear whether companies should be overreacting right now. i think we would advise our clients not to overreact until we get details of exactly what facebook did wrong here. stuart: can you put me in layman's terms, what did facebook do wrong? >> a british academic, created an application and put it on facebook, sent it out to a group of people, 270,000 of them responded, and by responding they gave that person access to 50,000 facebook users data because they were friends of those responders that academic, i don't know the exact details here, must have given a information to a research
10:55 am
company called cambridge analytica. that company is known to work with the trump campaign. that is where people are getting stirred up. stuart: it was the unauthorized collection of private information on 50 million facebook users? >> from the third party firm, from the academic. it is still unclear if that academic had the authorization to collect the data because they were following policy, the am dem i can did it, facebook didn't stop them from doing isn't. >> i think they knew about it as early as 2015 and maybe didn't communicate to the losers it didn't happen. it is murky so far. stuart: some competition would surely help? >> sure. >> what is wrong with twitter or the others? >> there is a lot of competition out there. facebook has instagram as well people may not know, also owned by facebook. twitter is certainly a highly-used thing. most people may not know that youtube is actually mosted used social network out of all of them. there is lots of advertising channels to work with. in fact, amazon is getting into the game. stuart: magic word, you think
10:56 am
amazon is going to get into this? >> anybody with a lot of eyeballs which amazon obviously has from a shopping perspective, there may even be less controversial place to be advertising, is, as an option. stuart: so if you got eyeballs, you can advertise to the eyeballs. >> of course. stuart: amazon has eyeballs, so they could mop up some of this advertising? >> sure. as a company we work with a lot of fortune 500 clients and help them figure out what their social strategy should be. our position would be not necessarily overreact but look at the other options and testing those out. stuart: amazon is another option. fascinated by amazon. >> they're getting into every business. stuart: thanks for joining us, sir. appreciate it. see you again soon. the tide may be turning. new polls show voters are starting to warm up a little to the president's tax plan. they're more in favor of the gop these days too. looking beyond the media's contempt. that is what they're doing. my take on that, top of the hour. here we go.
10:57 am
11:00 am
stuart: as he so often does, the president started this day on his twitter account. quote, the economy is looking very good, many years since we have seen these kinds of numbers, the underlying strength of the companies has never been better, the message on the economy is clearly getting through and it cannot be good news for democrats. latest father or mother poll shows improvement on how the voters feel about the economy and president's tax plan, big improve compare today october last year, gop is closing gap with democrats, big improvement compared to october. people are coming around on the president's policies, they are ignoring the noise of vicious beltway politics, they are looking beyond the media's contempt and focusing instead on
11:03 am
actually done. momentum is on the president's side, the approval numbers show steady improvement. that's what happens when the economy grows, optimism as the money starts to flow, there's opportunity in the job market, there's scope for up and comers. that's mr. president put out positive tweet, goes over the head of the media. >> new holding tables ought about tax reform kicked in. can i generalize and say people seem to like the president's policies, it's the president's persona which some have a profound ofción too. the president is doing well by the tweets. in my opinion, i put this alluded to wall street journal, i think trey gowdy hit it absolutely right on fox news sunday when he addressed john dowd, the president's lawyer. act like it. i think he was talking to dowd directly and also talking to the president. there's been no evidence thus far that there's been any collusion, conspiracy, coordination with the russians. in fact, i'd make the case, look, you and i have seen presidential campaigns, i have never seen a presidential campaign leak as much as the
11:04 am
trump campaign, these people were leaking on each other every single day in order to look important to the press or to settle a score inside the campaign. so if there was any collusion in the campaign, we would have heard about it long before now because somebody would have leaked it to the press to make themselves look big. stuart: good point, karl. karl rove, thank you for joining us, sir. check the big board, we are holding onto sold radially, it wasn't quite as good as it was first thing this morning, we are up 350. this is really a lot about china and america talking about trade, trade war fears easing a little, come on in, ron carlson with the carlson group, ron, is the heavy-duty selling that we saw last week and the week before and much of the month of february, is that over? >> you know, i don't think so. it's really -- it's really interesting to watch because volatility has exploded from
11:05 am
nowhere. already this year we've had five weeks that were worse -- the worst week last year of 2017. four weeks better. someone was explaining to me me this morning is because trump likes to negotiate in public and i said, welshing that's interesting because we had the least volatile year ever in 2017 and now he's out here talking about, you know, tariffs, trade wars and all of that. i think that it's -- there's a lot of noise here, trump is great at negotiating, i like the fact that he does it in public so he knows he is living up on what he told us in office. volatility is real here. people have to understand that buying the general market and hoping it goes up, it's not a great strategy, you still need to buy good business that is will do great regardless. stuart: great businesses are
11:06 am
tech companies, making great deal of money and growing fast. is it a good time to buy big techs because they have been beaten down pretty badly? >> they have been been beaten down badly but if you look at nonconsensus trade, the least downside, it's actually energy, we have a nonconsensus view on energy that oil will hit -- we've had this, by the way, the last several months, maybe $90 a barrel, you look at national oil arco, die -- diamondback and you talk about beaten down, you go back what's happening, the services company like diamondback hit all-time high. we think has a lot of upside in here. stuart: some of the oil
11:07 am
companies actually pay a very respectable dividend. i mean, you're looking at 4, 5, even 6% on some of the bigger names, i think, am i right? >> yeah, you're right, those are not necessarily would be the companies that i focused on, the two i mentioned pay no dividend and look for companies that are reinvestment and are bullish that we see what we are seeing because if we are paying a huge dividend, means you can't find presidents you want to invest in. we go back to diamondback energy, they own most to have property they drill on. it's been a great strategy for them and we really think sets them up for potentially a really nice run here. stuart: just like the idea of retiring on nice 6% yielding stock that's pretty safe. i could go for that, ron, i really could and so could you. >> sometimes dividend sucked you in and cut you off at the knees because you have a 5 or 6%
11:08 am
dividend, you forget about the dividend when it's down 20%, be careful there. stuart: thank you, ron, ron carson, everyone. appreciate it. elon musk deleted his own facebook page as well as the pace x and tesla facebook pages, musk says he will keep instagram accounts for now even though facebook owns instagram. ashley: taking a hit. stuart: poised at 150, could drop below 150. it's down $9 on news this morning that the fdc is investigating that company. now it's 149, see, just dropped below 150, the stock performance of the day. a few minutes ago, we said the federal trade commission is investigating facebook of privacy, facebook stock dropped on the news, we will have more on this a little later with the judge on this program. another down stock on generally up day is general electric, will you look at that, it's now has a
11:09 am
12-handle on it as they say. it is the only loser among the dow 30 stocks. that 12-dollar handle it's the lowest it's been since 2009. how about the price of gold, good week last week, up 5 bucks today, 13.60. where is bitcoin? moved briefly about 9,000 last week, where is it now? it is down. ashley: 78. >> $8,558 per coin. the yield on the 10-year treasury, gold, bitcoin, 10-year treasury, 283 is the yield. steady as she goes. jampacked hour ahead joined by 18-year-old benjamin, he won a quarter million dollars in science talent search, he studied weather pattern to fine link to potato famine, fascinating stuff.
11:10 am
we will also be joined by michelle steel, accounting supervisor for los alomitos, declared nonsanctuary city. kim strassel is with us, the big story, your money, stay there, we are up 280 points. the third hour of varney & company is rolling nicely along. more and more people have discovered something stronger... more dependable... longer lasting. in a chevy truck. and now, you can too. see why chevrolet is the most awarded and fastest growing brand the last four years overall. current competitive owners can
11:11 am
11:12 am
of the joy in her voice. just one hearing test is all it took for him to hear more of her laugh... and less of the background noise around him. for helen, just one visit to her local miracle-ear is all it took to learn how she can share more moments with her daughter. just one free hearing test could help you hear more... laughter... music... life. call now! for a limited time, you can get $500 off miracle-ear hearing aids!
11:13 am
11:14 am
would be closed. joining us kim strassel, the author of the book, intimidation game. kim, this is a very strong response from the united states. i suspect it's an overture to the brits, the possibility of trade deal? >> this is an important outreach because of how this is -- they are doing along with nato partners and this is very important because if russia excels at anything, it is driving wedges in between the united states and its european allies. you've had both theresa may in the uk and angela merkel in germany frustrated that they have felt that the trump administration wouldn't be a little bit tougher to russia so now they are coming out together taking joint actions, they should do a lot to solidify u.s., uk and german relations and now, i think, the question turns europeans given the
11:15 am
leverage that russia has an energy markets. stuart: some europeans are expelling some russians, four in germany. ashley: four in germany and a couple of italy. stuart: not quite level of response that we got in america and for the brits. your point is that it's a way of getting europe and america and the brits together at least versus russia. >> finally back on the same side and look in terms of degrees, the united states has a reason for more forceful response, we know that we were the subject of a russian attack, we know that russia has been targeting our companies and infrastructure with cyber hacking and other things and then we are doing this, again, in joint condemnation with the uk over the recent poisoning of sergey, former russian spy which remains in hospital with his daughter.
11:16 am
stuart: yeah, you have a headline in the wall street journal this morning, the headline reads, we are quietly discussing trade solutions with china. i think that headline went a long way to creating the stock market rally this morning. does it mean that maybe trump's hard line has brought the chinese to the table? >> we don't know that yet and we will have to see where the discussions go, but what it does mean, stuart, and i think this is fascinating, the trump administration getting back with a strategy that they started to roll out about six weeks ago when they talked about washing machines and solar panels but then it got derailed. this was always meant to be targeted actions against china given intellectual property theft and given the trade imbalance there. but it got way late when wilbur ross got in the president's ears, certainly it was all about steel tariffs and the administration spent the last week walking back from that. they now seem to be back on
11:17 am
track focused on china and here is what i hope though, stuart, is that the discussions as they are happening focus on the right things which is access to both countries to wider markets rather than simply the measure of the trade deficit which isn't always the best negotiating place. stuart: we are restrictive from buying to some chinese companies. they have 10 industries in china that are off limits to any western investment and they are stealing our intellectual president and they are demanding the transfer of technology if your company wants to do business in china, it's still heavily weighted in favor of china and against america. >> oh there's no question about that and if the trump administration were to focus on one bad actor in this, china is the one because they do severely restrict us, in particular our companies are very heavily restricted from investing, for instance, in financial sector,
11:18 am
they make a point of not buying certain goods for strategic reasons like semiconductors and all of that will be part of the discussion. my argument is just that it would be good rather than trying to get to zero in terms of trade deficits instead just focus on those markets that are most restrictive and make sure american consumers have better access to them and chinese consumers have better access more importantly or as importantly to american goods. stuart: yeah, open up trade as oppose to close it down, kim strassel. >> or micromanage. thank you. stuart: how about this, the gun maker remington bankrupt, founded in 1816, will continue operating while goes through bankruptcy process, heavy debt, and a lawsuit tie today sandy hook shooting, look at snap, celebrity kegan, quits the app,
11:19 am
the stock is down 30% since last march, tiegen latest celebrity to delete snapchat account and the stock is down about 2 and a half percent right now. look at disney, according to disney's food blog which families book trip from may to june could have free dining. let the kids eat for free, they don't eat much anyway. first direct flight from australia to europe, the longest, i should say, 17 hours after taking off. in other words, you're in that thing for 17 straight hours all the way from western australia, frontier, 9,000 miles to london. personal finance companies smart asset is the same put together a list of colleges which give you the most bang for your buck
11:20 am
based on tuition, living costs, graduate starting salaries, we will tell you which college topped the list in a moment. the cities for best for entrepreneurs and start-ups, can you guess which city is number one, we will, of course, tell you in a moment. (indistinguishable muttering) that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills.
11:21 am
11:23 am
retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
11:24 am
stuart: before the break we asked you to guess which college provides best value for your dollar, answer, mit, according to personal website, smart asset, rank colleges on tuition, living costs, graduate starting salaries, mit number one, rounding up the top 5, cal tech, stanford, harvey college in california and princeton number five. top city for entrepreneurs business.org says obviously that's san francisco. that website looked at categories like friendliness to start-ups, financial environment, availability of highly-educated, san francisco.
11:25 am
ashley: you don't have any money if you live there. stuart: austin, texas, minneapolis, san josé, good entrepreneurs. postage stamp honoring mr. rogers on sale, shows mr. rogers along with king friday, one to have puppet characters from mr. rogers neighborhood which aired on pbs from 1968 to 2001. ashley: wow. stuart: new report from police departments across the country are regularly using dead people's fingerprints to unlock their smartphones, question, do you still have rights after you die after we pose question to the judge who is coming shortly. we are following the stock of the day, clearly that's facebook, moments ago it dropped below 150, bounced back, if you're in the market you probably have a small piece of stock which is falling badly, we will be back. whoooo.
11:27 am
11:28 am
11:29 am
11:30 am
speak and 26 of the dow 30 stocks are in the green, that means they are up. i want to talk energy, our next guest is ceo of propane company which has been business for years, he says president trump has been good for business, michael steve vala, correct? >> correct. stuart: got it right. ceo of suburban propane. tell me, what has the president done that's been so good for your business. >> well, first of all thanks for having me on, stuart, pleasure to be here. for the most important thing that the president has done is deregulation, okay, i think lifting regulations not only for broader business but for the energy markets is good for the broader economy. stuart: we have energy dominance, that has produced wealth of propane gas out there? >> yes, as we produce more crude oil and natural gas, propane comes from natural gas
11:31 am
production and so we are getting more and more propane from that natural gas production. stuart: is the use of propane in our economy? >> yes. >> i usually think of barbecue, what else? >> more uses are in motor fuel. propane, people don't realize that a lot of vehicles are now being powered by propane, school buses, lots of freights, ups. stuart: it's cheaper? >> 70% smog-producing hydrocarbons, it's more efficient and can be cheaper, absolutely. stuart: you are a big trump supporter?
11:32 am
>> stuart: okay, when i buy propane i'm buying for barbecue, 08 cents a gallon, that's right? >> that's the price in texas, main trading hub for propane. that is the price down there. stuart: low price? >> relative to historical means t about average. when crude oil got to $40 back in 2008, 2009 propane was
11:33 am
trading about 1.50. stuart: whoa. >> so sort of settled in now, 80-cent range today just about a month ago a dollar. propane tends to be somewhat volatile, moves with oil prices, also moves also with natural gas prices. stuart: okay, michael, i have to get it right. >> perfect. stuart: what a guy, we do appreciate it. a new report claims, it claims, bear with me on this -- >> it's going to claim. [laughter] stuart: fingerprints use dead people's fingerprints to unlock dead person's smartphone. you lose all of your rights when you die? >> theoretically there's no right to privacy once the individual is dead. here is what happens, a person
11:34 am
dies, say they are killed in some crime and their smartphone is on them, the police will physically manipulate the finger of the dead person as to unlock the mart phone to see if the smartphone has evidence of who might be involved with the killer. stuart: suspicion. >> yes, suspicion of criminality but feels at the turn of right to privacy -- >> feel, free. [laughter] >> the right to privacy might extend to estate if the estate has assets. in that circumstance the use of the finger will probably not be permitted. stuart: i get digit that is you pump into the phone. >> i'm so sorry.
11:35 am
stuart: that's the only way to get it to the iphone? >> theoretically yes. honestly i have not heard about this until producers told me about this at 6:00 o'clock this morning. here is the ftc's interest. the ftc entered into agreement with facebook that a violation of privacy of one of its users is $40,000 per violation. do the math, 40,000 times 50 million. what is that 2 billion, 20 billion, i can't do the math on the iphone because there's too many zeros, you are talking about very serious money even
11:36 am
for a company like facebook and a person like mark zuckerberg to be forfeited to the federal government if they want to enforce this, if they can show that facebook knowingly looked the other way while the characters from great britain invaded the privacy of 15 million of unknown innocent customers. stuart: do you suspect that maybe there's a deal, okay, we will investigate you, we could fine you an arm and a leg but we won't if you come up with concrete steps so that this doesn't happen again? >> theoretically the ftc should be interested in what you suggested, concrete steps to enforce the law for people's privacy, as practical matter, it's the government, remember what ronald reagan said, the most dangerous words in the english language, i'm from the government, we want to help you. they want zuckerberg's cash.
11:37 am
[laughter] stuart: okay. all right, judge, the stock has recovered a little. now to 153. a bit of a comeback. thank you very much, indeed, sir. a man in california uses homemade steam power rocket to try to prove the earth is flat. [laughter] stuart: limbo driver. he made a hard landing, that outside of an aching back and a few bruises he's feeling okay. as far as we know he did not prove his theory. dropbox, up this morning, made a nice debut on friday, 2% and fedex they are reserving, they want 20 of those tesla semitrucks and that is putting both tesla is down now, below 300 a share and fedex continues to go up $3, check this one out
11:38 am
too. parts of eastern europe and russia, apparently there's a reason the orange tint comes from sand from storms in the sahara desert. coming up, 18-year-old won a quarter million dollars in a science talent search to his irish potato famine project. how about that? he's on the show shortly. michelle, supervisor for los al alomitos, city which declared a none sanctuary city, we cover it all. ♪
11:39 am
11:40 am
nicole: i'm nicole petallides with your fox business brief, teaming up amazon alexa and jpmorgan. what's interesting both stocks are to the upside today, alexa will be able to send analyst reports related inquiries and, in fact, they are testing other features as well that could include bonds or swap prices and
11:41 am
will other banks jump on board? we have already seen new york life insurance company, one to have companies that's working with this, 12,000 agents, people are becoming more in tune to using voice assistance according to consultants that actually looked into this, this project started last week, after mobile apps they started reporting large trades and would wall street traders execute trade. ♪ commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online.
11:43 am
stuart: you better check this out, the rapper cardib, went on rant to how to pay with taxes and she wants to know what the government is doing with her taxes. >> uncle sam, what are you doing with tax money, you know what i'm saying, you donate -- will you donate from a kid from a foreign country, they give you updates on what they are doing with the nation, i want to know what you're doing with my tax money, i'm from new york, the streets are always dirty, the dirtiest streets in america. stuart: we finally found a celebrity that doesn't like paying half of income in taxes. four cities joining in as well
11:44 am
as orange county, they are looking into doing the same thing, opting out of the sanctuary city, sanctuary state idea, joining us now michelle steel, is this a turning point, michelle, that's four other cities, plus orange county, things are changing? >> yes, i think things are changing, orange county has -- actually orange county is third largest county in california, 3.2 million people living in this county so we started and all actually -- i have to give credit to city of los alomitos, we are joining them and other cities and hopefully it'll go out to other counties too. stuart: well, if california the state can opt out from federal law, i presume that you as county can opt out of state law, what has been the response of the state authorities to what you're doing in orange county? >> you know what, i heard a lot
11:45 am
of different things, it's a stunt. it's playing game but it's not, actually state itself is created the chaos here because we are place -- our sheriffs, their hands are tied because they cannot work with federal government directly, we are talking about criminal illegal aliens that are going to be on the street, public safety comes first and government's first duty is public safety, so it's not safe enough for our residents, then we really have to do something about it, that's why we came out. stuart: orange county has problem with homelessness, irvine, for example, they don't want hundreds of people in tent in park nearby, why does orange county have a huge homelessness problem? >> you know what, that's beginning with assembly bill 109
11:46 am
that state prisoners release today local prisons and we don't have enough prison beds and at the same time there's a show 47 and 58 that there's not really -- nonviolent prisoners, they are all released on the street, so we ended up having so many homeless people here. we are doing whatever we can, but we have to work with each cities and we have to work together, not just cities but private nonprofit organizations and assess homeless people first because some people that don't have resources, that's the way they became homeless and some of the people are just mentally ill, so we really have to put them into the -- into the mentally ill -- hospital beds, we have to assess them first before we put them into -- you know, some shelters. stuart: michelle, it seems like
11:47 am
state authorities are really causing problems for a lot of parts of california, whether it's the homelessness thing or illegals or sanctuaries, they are imposing some real problems on you, that's what's going on here, isn't it? >> exactly. california is going a totally different education. we are not talking about senate bill 54 that not -- you know, make -- that police are not working with federal government, but at the same time they have like, you know, 50, means employers can not report illegal aliens to the federal government, immigration comes from the federal government and they are the ones control over it. i'm a first-generation korean american and you know what, i went through process. these people, i think, have to go through the process and we have to work together right now in our state is not really working. stuart: i think we are in
11:48 am
agreement, michelle, i went through the process, you went through the process, we both love america, so there you have it. thanks for joining us, we do appreciate it. thank you very much. >> thank you very much. stuart: sure thing. check the big board, we are back with gain of 300 points, okay, 308 to be precise, 23,842. big deal, the federal trade commission is investigating facebook over privacy practices, the stock plunged on that news, it only come back a fraction, 154 on facebook right now. and next, the 18-year-old scientist who won a quarter million dollars studying weather patterns, he going to teach us what it has to do with the irish potato famine, we will be right back. at crowne plaza, we know business travel isn't just business. there's this.
11:49 am
a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. crowne plaza. racing isn't the only and with godaddy, i'm making my ideas real. with godaddy you can get a website to sell online. and it will look good. i made my own way. now it's time to make yours. ♪ everything is working just like it should ♪
11:50 am
each day our planet awakens but with opportunity comes risk. and to manage this risk, the world turns to cme group. we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered.
11:52 am
11:53 am
it's benji firester, 18-year-old and he's with me now, benji, congratulations. >> thank you. stuart: what does this have to do with the irish potato thing. >> killed all the crops in ireland in 1840's which was part of the famine. disease is prevalent all over the world and causes billions of dollars in damages in epidemics, i invented a mathematical model which predicts the spread of the disease and gives farmers information to protect fields and prevent epidemics. stuart: that was pretty good. i didn't think that you could explain it so that i could understand it. very good. you look at weather patterns, i take it, where the disease, infection is located and the wind patterns and you predict this thing is going? >> exactly. stuart: that's it? you invented the algorithm which is e occasion which takes all the weather patterns and bring
11:54 am
it altogether. >> the part i invented how things interacts, what times we need to look at wind directions, which fields we need to look at and how does all correspond with a probability or what's your risk of infection and algorithm just puts tall data together from all the infected fields and all the times the winds direction and all the times the winds can move the disease and see what is going to happen. stuart: enormous amount of information, is that another word for algorithm? >> yes. stuart: pull it altogether from everywhere. >> part of the model is what's important and what's not important. you look at the wind throughout the entire day it'll be hard for the computer to figure out what's happening but the disease can only spread within a very specific amount of time, so the first thing the model does is it looks for the times where the disease can actually spread to limit the data to something it can actually calculate with high accuracy. stuart: if i were looking around
11:55 am
for a science project to win $250,000, i don't think i would have had something to come up with the irish potato famine. how did you come up with? >> i was looking to do research in science and mathematics, they were looking at many different ways to model diseases and track it, it's field called plantology, has been studied out for years, so it was a problem that's been around for a while and continues to be so and i wanted to explore new ways -- look at the disease and how it spreads using the tools of mass in computer science. stuart: 250,000 bucks, that's a lot of money? >> that's one college tuition. stuart: that's what it's going for? >> yeah. stuart: i hate to break bad news for you but i believe the money is taxable. [laughter] >> so glad to have won.
11:56 am
[laughter] stuart: which college do you want to go to? >> i have been accepted to harvard. now he tells us. stuart: do you object, people that do algorithms and things, they are good at math, they are called geeks, do you agree? >> no, that's okay, i accepted the term. stuart: is that a term that you prefer? >> no. stuart: rich geek? when do you go to harvard? >> i'm a senior now and i will be going to college. stuart: who presented the prize? >> the prize is for science talent and it's run by society science from public. stuart: great to have you on the show. i know you wanted to be called benji, very well, indeed. how do you follow that? you take a commercial break,
11:59 am
stuart: one minute to go before we close out the show. ash and i are talking here. what is the grab biest story we had today? my answer is florida. governor rick scott signing a measure which would allow the entire state to remain in daylight saving time. ashley: let's not forget. the panhandle is on a different timezone anyway. stuart: that's right. >> which is ridiculous in it -- self. do away with it. it was used to save energy back in world war i. i don't think it has any relevance today. stuart: i like the idea of getting more light, daylight during any timeframe. during the second world war, it
12:00 pm
was a two-hour -- ashley: i do remember that. it used to get dark at 11:00 at night. stuart: you don't remember the second world war? you don't. >> no, but i remember the two hour difference. stuart: we're done. neil cavuto. it's yours. neil: i know you have been making a big deal of this since the war of 1812. it would figure you're not letting go right now. thank you very much, guys. we're following up on that, by the way. a big deal florida, so foes the rest of other 49 states. we're keeping track of this facebook situation. this is a little bit bigger than facebook. the ftc wants to get to the bottom of this, how it is that facebook is dealing with this problem. the stock continues to swoon a little bit here. in case you're counting it has lost $80 billion in market value. the in case you're worried about
100 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on