Skip to main content

tv   Varney Company  FOX Business  March 27, 2018 9:00am-12:00pm EDT

9:00 am
maria: great show, everybody. [laughter] maria: good to see you, have a great day, right to stuart varn. stuart: investors are in buying mood again, good morning, everyone, we have to start with usual caution, we can tell you how the market will open today but we cannot tell you how it would close, i guess that's kind of a warning. look at this, green arrows all across the board, the dow, s&p and especially the tech-heavy nasdaq will be up at opening bell again today. forgive me, please, for going back to yesterday, a new show, hit a little history but that was some rally, wasn't it, the third best point for the dow ever up 669 points.
9:01 am
you know, for months we heard how it was 1987 all over again, right, ash? ashley: yes. stuart: the crash is coming, the trump rally so many times is over, didn't hear much of that yesterday afternoon and they are buying again this morning. but not facebook, that's one big tech that has been truly beaten down and news on it this morning, 37 state attorneys general are investigating the unauthorized use of personal information and there's news that facebook was gathering information from calls and texts on android phones as well. but mark zuckerberg will send someone else to britain to answer their parliament's questions, he doesn't wanting to. facebook has a leadership challenge. we have news on a no coast train, sister gene, she has a rival. we cover it all, varney & company is about to begin.
9:02 am
♪ ♪ stuart: that song is called crazy train, okay. [laughter] stuart: we are playing it because there is, indeed, a mysterious train in china, maybe carrying a high-level passenger, who could it be? >> could be north korean leader kim jong un. apparently a plane arrived, black limbos and motorcades and people said that trains from north korea to china, from that direction were all delayed or pushed to the side so obviously
9:03 am
there's rumor out there that this was kim jong un for unannounced meeting. by the way, kim jong un has never left north korea since he came back to power in 2011 and now train leaving, look at all this. [laughter] ashley: speculation is who is behind those dark and tented windows and on the train, well, it could, indeed, be kim jong un, he is expected to meet with south korea next month and then quite possible president trump sometime in may, maybe he will go to beijing to talk about that. stuart: he's in beijing to talk about pay masters about how he should respond to confrontation of donald trump. ashley: yes. stuart: that's why he's there. ashley: negotiate say the chinese, that's what we are doing. stuart: it's about time we got to your money, remember, please, the dow is coming up a whopping great 700-point rally, it was huge, joining us now peter,
9:04 am
professor of university of maryland, all right, peter, when i look at the state of the economy, i understand why the market rebounded so sharply, stocks are following the economy, have i got it right? >> absolutely, i expect the first quarter profits to be 17, 18% when reported, the stock market rally through the 28th of january was mostly driven by 4 or 5 big tech stocks, one of them facebook and for the market to dump because of facebook makes sense if they were the growth, but there's growth throughout the economy, there's strong profits throughout the economy and we should start to see a more broad-base market and that's a good thing. stuart: okay, is it over? the dip in february or early march? happy days are here again? >> absolutely not. the steel tariff would have hit a very tinny .00-something percent of the economy and yet the markets panicked. economists say that was a trade
9:05 am
war, we know how they predict those things. facebook again, facebook is not central to the economy, this is not like amazon f facebook disappeared tomorrow, you'd have trouble finding your third cousin in montana that you showed up at wedding in 1993. it's no great loss, there's no reason to panic because facebook has trouble. stuart: okay, before you go, i want to ask about the latest numbers on home prices, you know that index just came out a few minutes ago, jumped 6.4%, the index of home prices, up 6.4% in january over a year ago. that's a pretty strong gain for home prices, peter. >> yeah, i was predicting 6.2. a little bit better than the consensus, what you have here is supply, young people want to live in the cities at the same time material costs are very high because of the global
9:06 am
economic boom, you basically have supply constraint on housing that's not going to go away very quickly, we are going to have fewer homeowners in the future or more people living in condominiums if they don't rent but the price of homes will continue to rice. stuart: peter, that's the negative side, the positive side is household wealth is going up very nicely with home prices up and stock prices up, we are doing okay. >> well, yes, household wealth is going up, i didn't mean it as negative. supply and demand of market, what you have here is asset, land close to cities, fixed supply and heavily regulated, the value will go up. it's not the postwar days where there's cheap lands around cities to build. stuart: that's for sure. we will see you again soon. thank you. >> take care. stuart: in 2020 census they'll be a question about citizenship, are you legal, well, that question that suggested of a question has been met with up
9:07 am
radioespecially in california. ashley: no. stuart: yes. [laughter] ashley: no. stuart: good side kirk, sound effects from ash. attorney general in california he says the question is illegal. all rise judge napolitano is here. judge, i find this irresistible. [laughter] stuart: i can ask you, it is illegal for our government to ask and illegal if he or she is illegal, that's nonsense. >> it's interesting the way you put it, so the only reason in the constitution for the census is to apportion members of the house of representatives, so the only legal thing that the government can ask under the constitution is how many people live here, not where did they come from or how did they get here or why. stuart: all right, judge, would you take the constitutional legalistic hat off. >> how could i possibly do that, we are dealing with the government? stuart: what we want is
9:08 am
legitimacy of elections, california is going all out to elect illegals vote and there's no penalty if they do vote. >> well -- stuart: now thigh are trying to stop the government finding without is illegal. >> it is against the law to vote in federal elections, it is not against in california, for whatever reason wants to do in state elections. stuart: that's exactly what they are going to do. >> what do you think i would say to the census taker? stuart: one person the house, good-bye. >> that's technically illegal because i took oath to uphold the law. i cannot advice people to break the law. i have not heard anybody being prosecuted for truthfully answering the number of people who live in the house or nothing more. i have heard people prosecuted
9:09 am
for falsely answering for whatever reason. for example, if and illegal were to claim that he or she was legal for fear that a truthful answer might result in deportation, that would be a federal crime. if you do start to answer this thing, you have to answer truthfully. stuart: so don't answer is -- >> yes. stuart: you're telling california, oh, yeah, it's okay, you can cover it up, you're and illegal. >> because the first amendment which says congress shall make no law bridging the freedom of speech and they used to have the place in london, the part where people used to be able to speak freely and also protects the right to remain silent. stuart: you did not make the case that it's illegal to ask the question. >> it's not illegal to ask. nor is it illegal to decline to answer. stuart: he watches the program. >> he's up at this hour? stuart: they are early risers.
9:10 am
cook county, illinois, basically chicago, they are suing facebook, they are suing cambridge analytica after alleged misuse of personal information. what do they want? are they going for money? >> of course. that's all the attorney generals want, that's when they sued the big tobacco, did the health of the nation increase when big tobacco transferred $150 billion to various state attorney generals, no, they had more money to spend on pet causes. stuart: that's what it's all about? >> that's what it's about. the only true reform is when zuckerberg gets hands on the ability to our privacy and that would require him to spend money, not to give money away but him to spend money internally to prevent the cambridge analyticas of the future from doing this. by the way, if you calculate $40,000 per claim, 50 million claims, that's $2 trillion,
9:11 am
40,000 is what zuckerberg agree today pay the federal trade commission per claim. stuart: zuckerberg would only have to give up 5% of the wealth. >> to come up with 2 trillion. stuart: i'm joking, i don't do math this time of day. >> that's not that much for you, 2 trillion. stuart: silence on the set. >> i have a right to remain silent. stuart: yes, you have obligation on occasion. [laughter] stuart: all right, where are we on the market, if you know a few minutes ago we were going to be up 10 points at the opening bell, now it looks more like 80, 58 but that does follow great big rally from yesterday. hey, please, look at microsoft, i own a tinny sliver of it. the company got hit a trillion dollars in 12 months and the stock could hit $130 per share. [laughter] stuart: okay. real estate, stop it.
9:12 am
there's a big mall deal, this is all about saving high-end malls and forgetting about the rest. those two companies are getting together, 50 billion-dollar merger, we will have more on that after the opening bell. what else we've got? packages containing explosive material sent to several military basis in dc area, fbi investigating, more noise from the clinton team, jim, former communications director for hillary's campaign, she says sexism is the reason why her candidate lost the election. paul eye -- paul ryan's office is considering stepping down. jason chaffetz says he wouldn't be surprise if ryan stepped down sometime soon. he's on the shoe.
9:13 am
9:14 am
9:15 am
stuart: smith klein has agreed to pay nevatus $13 billion, both
9:16 am
stocks will be up at the opening bell. multiple explosive packages sent to military bases in the dc area. ashley: yeah, what was inside them you're going to ask, well, suspicious black powder which could be component for explosive device, x-ray showed gps and defuse, it's unclear whether they were functional explosive devices, nevertheless, the packages were sent to six areas, the cia mail sorting facility, we had white house mail sorting facility, a u.s. navy facility and so on and contained in some of the packages, stu, were apparently rambling letters from someone upset about something, it's nothing to do with the austin bomber, there were questions whether these could have come from that individual before he killed himself but authorities said no. stuart: speaker of the house
9:17 am
paul ryan's denies speculation that he's considering resigning, come on in jason chaffetz, do you think he should go regardless of what he says about it, do you think he should go? >> if i could make one change i would make it in the united states senate. look, i think most people who understand and know the speaker think that it's a real possibility that he may not run again or hay may step down, paul ryan is truly a family man, those aren't just words for him, he really does believe it, his signature item was passing the tax reform package, that was his passion throughout his career, and the key metric here is june 1st, the filing deadline for candidates running for congress in wisconsin. a couple weeks before that, he's got to make a real decision about whether or not he's going to run again. stuart: i don't see how any politician who sends legislation to the president of the united states on how we should be spending our government money and that legislation does not
9:18 am
include any punishment for sanctuary cities or sanctuary states, i don't see how that can happen and i don't see how you can send that to the president, you should go, that's my opinion, you don't share it? >> the majority of the house and the senate did that very thing, i mean, it's shocking, the amount of money that they spent not dealing with sanctuary cities and not giving the president his signature item on funding the border wall. stuart: what kind of republican party is it? you're in tv, good for you, we are going to have you more here, i mean, really, but what's going on with the republican party that he would send a spending bill like that to the president? >> you know, the house sent the senate months and months ago a very conservative appropriation's bill and they did absolutely nothing about it, they had no debate, they had no amendment, they waited to the very last moment and that's why i have a focus on the united
9:19 am
states senate and mitch mcconnell for a process that didn't work for anybody, everybody agrees it didn't work. well, there was a person in charge of that and his name is mitch mcconnell. stuart: is the calculation that that kind of spending bill works in the senate when you've gotten democrats up for reelection in trump voting states but wouldn't work in the house? i mean, is that mix bag between the senate and the house. >> they sent it back over to the house, the house doesn't have to concur and they did. you have to look at individual members. in our state of utah, all four representatives voted against it. mike lee voted against it, only orrin hatch voted for it. you know, you have to look at individual member and make a decision, there were a lot of people that put military first and there's good case that the military needed a plus-up, but at what expense? stuart: i'm sure you're a happy man to be out of politics, jason
9:20 am
chaffetz but we are happy to have you on the show. >> thank you, stuart. stuart: where are we going to open the market after yesterday's rally, we will be up again this morning, 90 points on the dow. new details on the deadly uber self-driving crash in arizona, uber disabled the car safety systems before it hit and killed a pedestrian, that's a big deal. more varney after this. [ telephone rings ] [ client ] - hey maya. hey! you still thinking about opening your own shop? every day. i think there are some ways to help keep you on track. and closer to home. edward jones grew to a trillion dollars in assets under care, by thinking about your goals as much as you do. ♪ with expedia you could book a flight, hotel, car and activity all in one place. ♪
9:21 am
but i'm not standing still... and with godaddy, i've made my ideas real. ♪ ♪ i made my own way, now it's time to make yours. ♪ ♪ everything is working, working, just like it should ♪ jushis local miracle ear t at helped andrew hear more 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
9:22 am
off miracle-ear hearing aids! that's it. i'm calling kohler about their walk-in bath. nah. not gonna happen. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call to save $500 off bath walls with your walk-in bath,
9:23 am
or visit kohlerwalkinbath.com for more info. 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.
9:24 am
stuart: when i read the headline sound today me like a bombshell, uber disabled to safety system in the self-driving car before it struck and killed a woman pedestrian in arizona last week. ashley: shocking headline, according to auto car supplier who makes the radar camera that makes up the technology, they claim the maker that it was disabled because they've looked at the whole thing. they said they've actually recreated it and say their system was able to detect the pedestrian one second before impact, would that have saved the pedestrian's life if they slammed on the brakes, highly unlikely, the report is out there that it was disabled, not sure why or uber has not responded publicly to this and we are not sure why it would be disabled, that's a shocking
9:25 am
development. stuart: two points, if you disable a safety system and subsequently someone dies, you have a liability problem and you are, i can see punitive damages, et cetera, et cetera. ashley: right. stuart: big deal, secondly, this is good news for waymo, waymo is a unit of google, that's their self-driving unit. ashley: very good track record by the way. stuart: their stop guy came out and said yesterday, if you had been using waymo technology, that wouldn't have happened. bombshell just is. a lot of our viewers are waiting for the market to open and why not after yesterday's dow industrials, third best point gain ever. we will open up again this morning. it is tuesday march the heavens know what. twenty-seventh, we are going up,
9:26 am
the s&p and look at the nasdaq up significantly again. stay there, please, it's going to be an exciting open to the market and we will take you there. if you'd have told me three years ago... that we'd be downloading in seconds, what used to take... minutes. that guests would compliment our wifi. that we could video conference... and do it like that. (snaps) if you'd have told me that i could afford... a gig-speed. a gig-speed network. it's like 20 times faster than what most people have. i'd of said... i'd of said you're dreaming. dreaming! definitely dreaming. then again, dreaming is how i got this far. now more businesses in more places can afford to dream gig. comcast, building america's largest gig-speed network. now more businesses in more places can afford to dream gig. 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
9:27 am
...to find you the lowest price... ...on the hotel you want. don't sweat your booking. tripadvisor. the latest reviews. the lowest prices.
9:28 am
9:29 am
stuart: you know, you are entirely justified in being a little excited prior to opening
9:30 am
of this stock market. why? you justify that, we went up 669 points yesterday on the dow and the nasdaq was up a whopping 200 points plus, you don't see that very often. so what's going to happen this morning? i will tell you now in 2 seconds, the dow goes up about 100 points. here we go. we are up, up 74, 72, please, 92. 89. 96, 96. you hold that shot until we hit plus 100. we might have to be here all day. i don't care. moving on, we are up a third of a percent, the s&p is up 1 third of 1%, the rally does continue, obviously not as strong as yesterday but the rally continues. show me the nasdaq, that was up 200 points yesterday, it's up another half percentage point today, that's a 34 point gain, clearly the techs are doing extremely well except for facebook. i think we've got a quote on
9:31 am
that now, it's down another 280, 1.7%, facebook is at $157 per share. look at the rest of big techs, please, they came bouncing back nicely yesterday, a couple of items for you, morgan stanley says microsoft will eventually hit $130 per share this year, love it. apple will wait until early next year to launch its original streaming content, that's a long time to wait. alphabet shares bounced back yesterday with the rest big tech names but we do have "the new york times" saying, amazon not paying local sales tax in cities nationwide. so you've got negatives for three of the four but all four of them are up and the dow is up only 41 points. okay, didn't quite make 100 plus. joining us ashley webster, mike murphy and d.r. barton. d.r., start with the big picture, happy days are here again, don't need to worry?
9:32 am
>> i won't go so far as no need to worry but i will say that six weeks to do day i told you i would eat my hat if we were in lows. after we had huge day yesterday, biggest up day in 250 days, when that happens usually we get a little bit of letdown for a few days, after that, stuart, i think that everything is so strong underpinning the market that we will hold this key support level and continue to move up. stuart: okay. murphy, happy days are here again, you're rubbing your hands, you're looking like you're having fun. mike: things are good, last week we had two big selloffs, thursday and friday and we had huge rally yesterday. i think for people at home watching the program, it's important to not get too low on the down days and not to get too
quote
9:33 am
high on up days. stuart: i want to talk about facebook, before i do that, i want to tell the audience a couple of negatives, 37 state attorney generals are asking -- investigating the company about the privacy policy and illinois' cook county is suing facebook over that data breach. those are negatives, that did not stop mike murphy sitting right next to me from buying facebook yesterday and i think you've got the bottom, you bought at 150. >> we bought over $150 a share yesterday and the reason, stuart, you had a market that was rallying and you saw facebook just open weak and continued to selloff, down to that 151 level which it hit in recent lows in february, we saw aztec nicole opportunity to buy the stock. there are still a lot of dark clouds for facebook, it's been a core holding of ours for a long time but when i see that type of a selloff in a strong market, we think there's opportunity, when the dust settles, i think facebook will be much higher
9:34 am
than where it is today. stuart: if you bought at 150, surely you're tempted to sell at 160. mike: not a trade, this is something a core holding that we are adding. so i wouldn't sell it. ashley: depends on how mark zuckerberg handles all of this. he told uk parliament, no, i'm not going there, they're outraged, they are throwing about how he should be there to answer questions directly. as you say, mike, once the dust settles, still over a billion users a day, i'm sure, the question is what damage has been done? stuart: he's 33 year's old, he's a coding genius, not very good on television and has not come up to the company's problem. they have a leadership problem. >> fang stocks are growing fast. facebook is growing much faster than all of them. their cash flow two years ago
9:35 am
was 10 billion, last year it was 24 billion, they are growing faster than everyone even if they slow that down a little bit, they are still a stock that's on the right trajectory. >> one more point, stuart, every single one of them, 10% use facebook as their main advertising tool. that's where the money comes from. stuart: i really want to move onto microsoft. [laughter] stuart: why not? we don't have to play the trumpet. okay. why not, why not? morgan stanley says this thing will hit 130 per share in the next 12 months. it's up 95 now, up a buck 28, so tell me, $130 a share on microsoft, i see you laughing? [laughter] >> stuart, i want to tell you so much, yes, that's 41% in one year, it's a big stretch for a firm of this magnitude. stuart: they say -- they will go that high because they are so big in the cloud. >> because they are growing faster. they're not the market share
9:36 am
leader, amazon is, but they are catching amazon, they are growing faster and they have the best shot of anyone on that list of being up 45%. [laughter] stuart: d.r., you are all right there. would you microsoft today at 95 expecting it to go to 130? >> i would be tempted to but i would do instead is buy a basket of the large tech stocks like qqq. it's a little bit extended. stuart: another very famous well-known company and stock, it's called general electric, it's a 12.84 per share. by the way, ge, amazingly is now worth less than netflix, okay, the market value of ge is below netflix. ashley: has to be worth something at 12.84. the break-up value, at least part of operations are worth more than that. stuart: would you buy at 12.84?
9:37 am
>> i would buy at 12.84, long run undervalued stock because we have start today value house of cards more than making a great jet engine or a great electrical generation turbine. stuart: so you'd buy it? >> that's where bargains are to be found. stuart: would you buy it at 12? >> we own the stock a little bit higher than that, yes, i'm watching it. we will buy more of ge. i think there's a lot of value. stuart: i would have to say that $12 a share, less value than netflix -- mike: keeps going down, though, i want to see it going down on big-buying stocks and that's where we would reenter. stuart: i'm being told to move on. check the big board, we are up 62 points, we didn't quite make a 100-point gain, i thought we were going to, 24,261, a couple of individual companies for you. red hat, they are making more money, red hat is up 6%.
9:38 am
higher profit at mccormick, everybody know mccormick, they sell all the spices in the super market, the stock is up 1%. look klein, both stocks are up this morning, $13 billion. look at apple, they are going to push into original programming but not until early next year, late to the game again. >> late to the game again, i'm holding up to andrew here, history, has a history of being the late innovator over the past decade, over in iphone cycle they were innovators hardware wise, now they are late to the game and trying to just do better than the people that came before them. maybe that'll work, i think this -- this content-rich glut may bite them in the rear. ashley: may be. mike: i take it, we own am, i
9:39 am
will take it if you want to call them just a cell phone company. i would argue that the innovation, walk down new york city, everybody wearing airpods. stuart: that's hardly the innovation that streaming is and apple is late, late to the streaming game. mike: apple is late to streaming, netflix got there first, amazon went and disney is going and apple will get there. what's left in streaming, where is the money in streaming? >> original content, if they can make great programs like house of cards then weem would get more switched onto it. if they can create the kind of programming that others have, they have the money to do it, let's be honest. >> i like at apple and say, they are the -- have the music. watching apple -- when they do come in, i would -- i think they are a force to be reckon with. stuart: you prompd him to get on with the story.
9:40 am
ashley: my pleasure. stuart: i heard that. brookfield, they are buying the remaining shares of mall owner that they don't already own. look, this is all about operating high-end malls, if i'm not mistaken, i have my notes here, bookfield has 120 -- general growth properties, 125 up-scale malls. i mean, they are going to survive. upscale will survive, the rest will not, have i got it right? mike: if you see the stock both trading lower, this is a lower price than what the market was anticipating, not as much value in malls at any level. stuart: okay, heaven help those who are down the food chain. 9:40 eastern time, you know what that means, your time is up, gentlemen, but you are all right. [laughter] stuart: thank you very much. check the big board, we are still up very modest gain, 50 points higher, 24,254.
9:41 am
interesting headline from a former top reagan aid mark wymer, he was reagan's assistant secretary he says that president trump is a more powerful communicator than reagan ever was. fighting words there. [laughter] stuart: he will make his case in the next hour. he will have more on facebook, steve jobs tried to warn zuckerberg about privacy issues, you will hear what he had to say after this
9:42 am
9:43 am
stuart: well, we are holding onto a gain, it's not that strong, but i'm going to call it a gain nonetheless u. the nba
9:44 am
teaming up with youtube for the nba finals. nicole, is this a streaming story? nicole: it is, in fact, it's an expansion of a partnership that's gone back to 2005 and also just the wave of the future, people are demanding new ways to watch big events, not just on television but on streaming and so with this, youtube with partnership and kickoff is on may 31st and they'll have branding, they'll say the finals presented by youtube. last year the golden state warriors versus cleveland cavaliers, that was the most watched finals since 1998, so this is big for youtube and the nba to have exposure. stuart: okay, got it, thank you very much, nicole. listen to this, this is steve jobs talking about facebook and privacy issues. roll tape. >> silicon valley is not
9:45 am
monolithic. we've always had a very different view of privacy than some of the colleagues in the valley, we take privacy seriously and some people want to share more data thanked others, do ask them, ask them every time. make them tell you to stop asking them if they get tired of your asking, let them know precisely what you're going to do with their data. stuart: doesn't that sound like good advice to facebook eight years ago? maybe. joining us now the host of the next revolution with steve hilton, steve hilton himself is with us now. look, seems to me that facebook is having a leadership crisis, zuckerberg is what 33, he's a genius when it comes to computing but i'm not sure he should be running this kind of company. >> let's get a couple of things out there first, every time you talk about facebook as we did on my show on sunday, i get my disclosure out that my wife is a pr executive at facebook, probably just as well that we are talking about this here in
9:46 am
studio, i'm 3,000 miles away because i won't have polite things to say about the situation. the other thing on the clip from jobs, apple cannot really lecture anyone on privacy when right now in china they say they care about privacy, they handed over all the users' data to chinese government in order to get into china, let's not have any lectures from them about this. however, the big point on face book, i think really what this goes to actually is the business model of not just facebook but youtube, google, all of the advertising-funded internet businesses where you get a free product in exchange for giving up your privacy and i think this latest scandal is actually more important in the conversation it's prompting about the whole way of running these vast services that everyone gets involved in and people are thinking seriously about the consequences of that. stuart: if there's any regulation of facebook or other
9:47 am
social networks which infringes on ability to make money from the information they control, you do that and you change the business model of facebook and all the rest of them and you changed it negatively in terms of their profits and stock price going further? >> i think that's right, another point i make on the regulation, it's for me the important issue here is not so much regulating the behavior of these companies, the real issue is a lack of competition in these marketplaces and so i think the type of regulation you really want to see is much more structural, it's actually one of my on the show on sunday, breaking up the companies so that you get much more competition because it's become an incredibly man op -- monopolistic world. stuart: not for computer companies, that's the problem. do you think cheryl sandburg would be better executive? >> i'm not going to get into
9:48 am
management changes at facebook, but i'm not just dodging the question, stuart, you know, the real point is that whoever is on top, the fundamental issues remain which is this business model that depends on people giving up their privacy and the structural issues of lack of competition in these markets, whoever is running either facebook or google, any of them, those issues are there and i think we need to deal with them seriously. stuart: you get my information and i get your service for free. >> exactly. not just facebook, people are complaining about the fact that youtube says that you can control your privacy settings and -- of course, it does, every video you ever watched when you go around with your phone literally where you go physically, we will track you. it's all there for the companies to use to make money. that's the fundamental issue that we all have to grapple with. stuart: yes, we do. and i'm not sure how well i grapple with it.
9:49 am
>> my version of grappling is not having a phone and big part of my life they can't track. stuart: you don't -- >> i don't. i haven't had one for six years. that's the real revolution. stuart: how do we get in touch with you? >> i have a laptop. stuart: my producer said it's very difficult to get in touch with you. but it's very easy to watch your show, it's a good one, ladies and gentlemen, the next revolution with steve hilton, airs sunday 9:00 p.m. on the fox news channel. steve, thanks for being with us. >> good to see you. stuart: check the big board, we are down. i was hoping we would be up 100 points at the open but we element -- almost made i. senator claire mccaskill, senator of missouri, she has a message for hillary clinton, hillary needs to start showing respect for all those people who voted for president trump, you will hear it after this i am anl advisor.
9:50 am
for our firm, it's all about trust and transparency. trust that we do what's right for our clients, without the constraints imposed by the traditional brokerage houses. transparency in the way we're compensated. our philosophy is one of service, not sales... that's why i'm independent. charles schwab is proud to support more independent financial advisors and their clients than anyone else. visit findyourindependentadvisor.com (barry murrey) when you have a really traumatic injury, we have a short amount of time to get our patient to the hospital with good results. we call that the golden hour. evaluating patients remotely is where i think we have a potential to make a difference. (barry murrey) we would save a lot of lives if we could bring the doctor to the patient. verizon is racing to build the first
9:51 am
and most powerful 5g network that will enable things like precision robotic surgery from thousands of miles away as we get faster wireless connections, it'll be possible to be able to operate on a patient in a way that was just not possible before. when i move my hand, the robot on the other side will mimic the movement, with almost no delay. who knew a scalpel could work thousands of miles away? ♪ 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
9:52 am
near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
9:53 am
stuart: a couple items on hillary clinton, former campaign aide blames the election loss on sexism. missouri senator democrat claire msk -- mccaskill criticized
9:54 am
hillary about comments made by trump voters. >> for those in states that trump won we would appreciate if she would be more careful and show respect to every american voter and not just the ones who voted for her. stuart: sounds like she's saying, be quiet, please. joining us now coauthor of america in the age of trump. his name is doug sean, frequent guest on the program. doug, welcome back. >> thank you, stuart. stuart: first of all,jen, it was sexism was the reason she lost? >> i couldn't disagree more. people found her unpalatable as candidate. nothing she did to reassure voters and ultimate the election was referendum on her and she lost, not because she's a woman but because she's hillary clinton. stuart: claire mccaskill, senator of missouri, up for reelection, why is she saying basically, be quiet. >> she's saying not only be
9:55 am
quiet, stuart, go away. disappear. stuart: she's not going to, isn't she? she's not going to go away. >> i don't think so. she's having a fundraiser i read for her new political action committee and i think she feels in a certain sense the election was stolen and that it's hers rightfully and she in her own heart, nobody else around her, i think, including her husband wants her to run again but she would like to run again. stuart: but she's damaging other democrats, surely he realizes this, the evidence is obvious. >> the evidence is obvious, the evidence is clear and she does not care one way. she has always been first and foremost about hillary clinton. stuart: you worked with the clintons -- >> i did. stuart: in the white house, you know hillary clinton, you've done business with her. >> i have. stuart: would she have made a good president? >> i don't think so. i said during the election, i couldn't vote for either one,
9:56 am
nothing that i have seen from hillary clinton makes me feel that i made a misjudgment there. she is divisive and polarizing and unapologetic and frankly my problem with president trump some things that are good but my problem is that he has polarized, hillary would have polarized as badly if not more. stuart: last one, does she have influence in the democrat party? >> she doesn't have much support, most people at elite level want her to go away. the mass base support is pretty limited. the poll numbers as we have seen are not particular good, frankly consistent message. go away, hillary. stuart: are you still a democrat? >> i'm still a democrat. i want to win, it doesn't help me to nominate somebody who is toxic. stuart: i believe your plane leaves for florida in a couple of hours.
9:57 am
>> exactly. stuart: doug, you're all right. we will have more varney after this. . . . .
9:58 am
9:59 am
10:00 am
stuart: the president's hard-line in foreign policy is beginning to show some results and two examples of that breaking this morning. first off, russia. america, along with britain has rallied the west. we will expel 60 russian diplomats and close their consulate in seattle. other countries came up with their own expulsions. it was america led by mr. trump which led the hardening response to vladmir putin thuggery. it took hard-line trump to put backbone in the oh, so timid europeans. our president is leading. there is north korea. the news this morning is this. a special train traveled from pongyang to beijing. it is believed that kim jong-un was onboard heading to china for a top level meeting. would he have traveled outside of his country for the first
10:01 am
time ever as leader to meet his chinese paymasters, if he was not a tad concerned about hard-line trump. odds are he would not take the risk, if he was not worried. he is worried. he has not been could not tropical depressioned like this before. he was confronted with hard-line trump. president opened with a tough negotiating position. stop stealing our intellectual sort of software. on your markets likes we open up ours. china has been brought to the table. hard-line trump is showing results. of course the media is still whining about our president. they will never stop ever. they will never stop but look more closely what is happening around the world. america is leading again. not retreating. we are confronting evil and dictatorship, not appeasing it. and that's because trump is being trump. the second hour of "varney & company" is about to begin.
10:02 am
♪ stuart: well i have got news on consumer confidence, let's see if it will move the market. ashley: i don't think it will. it is still very positive, people still confident about the number of jobs available, that their wages are rising. the overall economy is heading in the right direction. not as good we thought it could be and lower than february's number which hit the highest level consumer confidence in some 17, 18 years. still on the right side of things. maybe not as big as we wanted it to be. stuart: no impact on markets. ashley: none at all. stuart: 40 points. look at microsoft. one of the biggest gainers of the dow stocks and microsoft is a di stock. it is up .8%. $94 a share. you got to look at ge. no, it has bounce ad little, a
10:03 am
3% bounce. it is the biggest gainer of all the dow 30 stocks. it is up 3%. it has been, maybe there is some connection to our program here because 9:30 this morning, remember? ashley: yes. stuart: two of our guests. two market analysts. ashley: said they would buy. stuart: buy it in the $12 range and it is going up. maybe we have some clout after all. 13.31 is the rice. look at red hat. a software company, at record high. it is making more money. up she pose. staying on the market, jack hough is with us, hotshot on wall street, baron's senior editor nonetheless. here we go. >> if you look last week at the dollar amount of the tariffs that had been announced and dollar amount lost in the stock market, it was 115 times in
10:04 am
stocks than announced in tariffs t was overdone. it was anticipating a massive ramping up of a trade war that is priced in, if you get anything short of that, stocks go up. stuart: i don't know why i never expect you to be bullish after the whopping great big rally we've already seen but you're looking at fundamentals looking a the economy and looking at profits saying we can to up some more. is that it? >> even if they rise for a while you need a reason for people to stop buying stocks. i don't see a better alternative for people right now. stuart: well, jack hough, hotshot on wall street. >> you will make my glasses fog up. stuart: tell me about facebook. under serious pressure. at the moment it is at 162. it hit a low of 150 yesterday. where are you on facebook? >> i'm catching the falling knife on this one. we did in "barron's" magazine. there is no evidence of widespread, people leaving
10:05 am
facebook going somewhere else. advertisers will be where the consumers are. the value proposition remains excellent. there will be nasty headlines. this is the most popular pile-on in washington, d.c. this is a company people love to hate right now, but altria, maker of marlboro cigarettes is company people love to hate. past 20 years, gotten six times return of s&p 500 in a loathed company this is the new sin stock, facebook. stuart: do you think facebook stock would go up and zuckerberg stepped down and sheryl sandberg took over the top job. >> i don't think they want zuckerberg to step down. they need a board to which has power. stuart: didn't answer the question. >> no, i think zuckerberg is a genius. he should stay on in executive capacity but i think he needs real oversight from a executive
10:06 am
board. stuart: good answer. tell me about microsoft. i do. i have a piece of the action here. morgan stanley says that thing is going to $130 a share. >> i mean i like microsoft but who likes it more than morgan stanley? pounding the table. they're talking about public cloud spending where you rent your computing power up in the sky. they're talking about that doubling over the next couple years. it is a two horse race, it is amazon and microsoft hovering up the dollars going into the cloud and that is a lot of money. if you have to choose between the two of these, microsoft 22 times free cash flow. amazon 50 times free cash flow, microsoft is the value play of the two companies dominating the space. stuart: the cloud business, i'm told it could be a quarter trillion dollars a year in a few years time, is that just crazy stuff? >> i mean if you own a business, what would you rather do? would you rather devote real estate to having all computing power and hiring the people that
10:07 am
do this or flip a switch and have your computing power somewhere else with people who have the scale to really act sell at this stuff. whatever work people can't put in the cloud they're doing it. although it has been growing, we're really reaching an inflection point where the growth ramps up massively in couple years ahead. stuart: i underestimated you. you will be back on the show. that is a fact. jack hough, great guy from wall street. hotshot. now the $1.3 trillion spending plan, as you know president trump doesn't like it. he says he would never sign anything like that again. tim phillips is with us, americans for prosperity, the president there off. tim, i'm hearing a lot of very unhappy republicans voters unhappy with their leadership. do you think it is time for paul ryan to go? >> i think the speaker made a big mistake by pushing so hard for this boondoggle.
10:08 am
stuart, 1.3 trillion bucks. chuck assume every -- schumer and nancy pelosi are thrilled with it. frankly americans are expecting more. the president should not have signed it either. he can't escape blame. saying i won't do this again, that is not enough. we've seen this movie before. remember decade ago republicans had congress and presidency, they overspent. it will hurt them then. bad policy is bad politics. that budget deal is bad politics. stuart: do you think ryan should go before the november elections? >> no, i don't. stuart: why not? >> i think paul ryan, the tax reform, tax cut bill he played a key role shepherding through the house is a enormous once in generation accomplishment for the speaker and it was a big deal. so they have done some good things. veterans administration reform was important as well. doesn't get much credit for that but it was a big one.
10:09 am
this is an enormous mistake. they have done some good things too. this budget deal was terrible and it will hurt republicans. stuart: can you explain a couple items? in the vast spending bill there was no punishment for sanctuary cities, sanctuary state of california, no withdrawal of fund, just give it to them. i don't understand how that could happen. number two, $1.6 billion supposedly for a wall but only for fencing and technology but rebuilding parts of the wall that have fallen down. explain to me how on earth this could happen? >> there is zero excuse for so many provisions in this bill. they blew through all the discretionary spending caps, stuart. they did it again. just did it back in february. remember the last omnibus spending bill they did again. they have blew threw it again. this is the second time in 30,
10:10 am
45 days they have done this. it is going to hurt them. it is bad for the country and it will hurt the republicans there is no doubt about that. stuart: let me jump in, i take your point it is bad for republican. >> bad policy. stuart: why? it is surely going to be very stimulative for the economy, isn't it? >> no, it never works that way. remember the obama stimulus that was supposedly shovel-ready in 2009? almost a trillion dollars in brand new spending. with interest it ended up being over a trillion to the bottom line. it did nothing to stimulate the economy. the best thing they have done to get this economy moving again is to get rid of a lot of obama and late bush era regulations. trump deserves a lot of credit for that. congress has used congressional review act as well. that was a good thing. the tax cuts were crucial element. two things helping economy moving again. getting consumer confidence back again. this overspending is something that is going to hurt the
10:11 am
economy. in the end it will also hurt american consumers. it will drive the debt even further up to over $22 trillion at this point. it's a terrible deal. stuart: okay, tim phillips, we hear you. we appreciate being on the show. >> absolutely. stuart: coming up, two negative headlines for the nfl. owners can't agree how to handle anthem kneelers. one former line back said the sport destroyed his life because he fears he is suffering from cte. brian kilmeade will join us on that later this hour. president trump's hard-line on foreign policy, i say we're actually seeing results. the news this morning is about that special trade. may be probably carrying kim jong-un from north korea into china that will be his first time as leader outside of his country. we'll deal with that in a moment. we have the man who wrote a book on ronald reagan. he said reagan was a great communicator but trump is a
10:12 am
stronger communicator. he well make his case later this hour. >> they made it more like washington itself, complicated, unfair, cluttered clutter gobbl. >> i will not sign another bill like this again. nobody read it. it is only hours old. some people don't even know -- $1.3 trillion. it is the second largest ever. you know what they say about the early bird...
10:13 am
he gets the best deal on the perfect hotel by using tripadvisor! that's because tripadvisor lets you start your trip on the right foot... by comparing prices from over 200 booking sites to find the right hotel for you at the lowest price. saving you up to 30%! you'll be bathing in savings! tripadvisor. check the latest reviews and lowest prices. that's it. i'm calling kohler about their walk-in bath. nah. not gonna happen. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. the kohler walk-in bath features an extra-wide opening
10:14 am
and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call to save $500 off bath walls with your walk-in bath, or visit kohlerwalkinbath.com for more info.
10:15 am
45 minutes ago we started with a modest rally. now we're dead flat. where is is the price for gold this morning? 1308 per ounce. we're off $12 as we speak. at the top. hour i said the president's hard-line on foreign poll is working. china is coming to the table to talk about trade. north cree, they have been confronted for the first time ever by an american president.
10:16 am
america is leading a sharp-edged response to putin and his thuggery. the president kicked out 60 russian diplomats. david bossie is with us, he is the author of "let trump be trump." david you're on the show because that is exactly what is happening now. let trump be trump. you said it. >> that is exactly right, stuart. we are seeing a strong president who campaigned on, i will be president of this country and not worry about the rest of the world. let their leaders represent their countries the best they can. we will have good deals and that's what this president has done. he continues to do and that is why you see country after country coming to the table to make new trade deals. stuart: it is true also of domestic policy. let trump be trump. trump unleashed. take the hard-line right out of the box and negotiate from
10:17 am
there. do you think the unleashing of this president, i think that is what is happening right now with the new team in the white house, some of his policy statements, do you think the unleashed president is good for the republicans in november? >> oh, i think it is very good thing for the republicans. look, you look at the new teams led by john bolton on the national security team. led by you you know larry kudlow, lighthizer, navarro on the economic side. it is an exciting thing for to us look forward to what this president is going to do, bringing manufacturing jobs back, getting our economy rolling again panned looking at getting these bad trade deals. the thing that he really campaigned on, he won the rust belt all across pennsylvania, michigan, ohio, wisconsin, it was because he was speaking directly to the american people and saying enough is enough. we are not going to stand for this anymore. whether it is nafta or the south
10:18 am
korean bad trade deal or letting the chinese steal our technology and our intellectual property. these things are now over and he is saying we'll have better deals. i think the economy is definitely showing it. stuart: now the president, he is ordered the throwing out of so to speak of 60 russian diplomats. he will close the seattle consulate. it is too close to submarine base and our technology, et cetera, et cetera. the president is leading a sharp-edged response. does this end speculation that the president would not be hard on russia because they have got something on him? >> well nothing is going to be good enough for the democrats. i just don't feel -- look, i love this response by the president. i think being locked arm in arm with our allies across the world, saying that the russian aggression in great britain was outrageous poisoning those folks. it is an outrageous act.
10:19 am
i'm a fan of what he is doing, but the democrats, they're going to, they hate this president and they will, nothing will get them off this fake russia collusion story. i'm sorry, it would take literally an act of war against russia. that is the danger that when you play politics with our foreign policy with a nuclear power you get into these things and you force leaders of any party, no matter who the president is, to make decisions that may not be best for this country. so i'm a fan of this decision but i don't like the democrats playing politics. stuart: okay. david bossie, author of the book, how relevant it is, "let trump be trump" especially on a day like this. thanks for joining us, david. >> thanks for having me. stuart: an update on the story we brought you last hour, there was an arrest in those explosive packages sent to a military base. ashley: half a dozen of these packages containing a suspicious block powder.
10:20 am
we understand an arrest was made in washington state, not washington, d.c., on the other side of the country in connection with the suspicious packages found essentially at military base notice washington, d.c., area, including a cia sorting facility. there was a fuse-like gadget and gps thing. they're not sure if these were genuine explosive devices. some of the packages contained ranting letters. stuart: nothing to do with the austin bombing? ashley: nothing to do with the austin bombing at all. stuart: got it, ash. >> into they're going after amazon cashierless store. we'll tell you all about it. it is a big deal. ♪
10:21 am
are finding themselves morin a chevroletple for the first time. trying something new can be exciting. empowering. downright exhilarating. see for yourself why chevrolet is the most awarded and fastest growing brand, the last four years overall. switch into a new chevy now. current qualified competitive owners and lessees can get this 2018 chevy equinox for around $199 a month. chevrolet. find new roads. racing isn't the only thing on my mind. and with godaddy,
10:22 am
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 ♪
10:23 am
if you're approaching 65, now's the time to get your ducks in a row. to learn about medicare, and the options you have. you see, medicare doesn't cover everything - only about 80% of your part b medical expenses. the rest is up to you. so if 65 is around the corner, think about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they help cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. so don't wait. call to request your free decision guide. and gather the information now to help you choose a plan later. these types of plans let you pick any doctor or hospital that takes medicare patients. and there's a range of plans to choose from, depending on you needs and your budget. so if you're turning 65 soon, call now and get started.
10:24 am
because the time to think about tomorrow...is today. go long. stuart: modest gain for the dow. red hat, software company, i think that is a record high. more money coming in to them they're up nearly 4%. 159. >> mccormack, spice people, they're up today. more money coming in today. fractional gain for mccormack. now this. walmart is creating new in-store technology. wait until you hear about it. fascinating stuff. lauren simonetti. what are they doing? >> okay. they filed a bunch of patents. they're for using technology in the store. we'll show you one of them. basically putting sensors on your shopping cart, where it hooks up with the phone, yes you are giving up some privacy here
10:25 am
but they can tell you where to go around the store to find certain items that you need. stuart: hold on. got to interrupt to understand this thing. on my shopping cart in walmart there is a sensor. >> right. stuart: it will respond to my phone and say, hey, stu, that hammer you want is over there on aisle 6? >> go all the way to the other store or even better, they filed another patent for a drone. that drone is customer service drone. it comes to where you are in the aisle. and it can help you. say, oh the price of this item is this because my biggest struggle, especially big box stores i can't find anything. it is awful. then even if they have people, you can't find someone when you need someone to help you. shot drone could help you. stuart: just filed patents for those two technologies. doesn't mean -- >> no. stuart: not necessarily going to see this next year or the year after? >> correct. this is where they're headed. they're competing with amazon on all levels, the amazon ghost store, the cashierless store in
10:26 am
seattle that has been a hit. stuart: we make fun of these ideas, but then in a year's time or two year's time they arrive and we all love them. >> are you willing, if a company has access to your cell phone and location, are you willing to give up your privacy for the convenience of getting around that store? or would you just go online, order items that you need and show up at the doorstep? stuart: have my assistant go online. ashley: there you go. [laughter]. >> i think it is very interesting. ashley: it really is. >> i circle the store many times. can't find what i need. stuart: got this one for you. nfl owners meeting, the meeting continues, the nfl. still don't have a plan what to do with the players kneeling for the anthem. looks like that is bad news for the nfl. i wonder if brian kilmeade will agree with me? he is next.
10:27 am
10:28 am
10:29 am
10:30 am
♪ stuart: wait a minute. is that the beatles song but that is not the beatles singing it, isn't it? doesn't sound like it. that is a cover. don't do that again. please do not do that again. we play the beatles only. no cover songs. ashley: stuart, very disturbed. stuart: i made my point. now i'm mad. check the big board. we're up 32 points. ain't much but we're up. big rally yesterday of course. how about the big techs, where are they this morning? most of them are up. facebook recovering a little bit. microsoft is moving forward. apple up 173. amazon getting back up there, 1568. brookfield, that is retail
10:31 am
sort of property owner. brookfield, that is it a record low for that stock. why? they have just paid $15 billion for the rest of the general growth properties company which they don't already own. this is all about investing in high-end malls. the market doesn't like it. ashley: no. stuart: how about that? still on the markets, doug kass with us, seabreeze partners management kind of guy. doug, welcome back to the program. good to see you again. first question, are happy days here again for stock investors? >> i'm hearing a lot of optimism in the prior segments of your program, stuart, from the sunshine boys that you have had on. unfortunately i have, up fortunately i have to fade the optimism. i think that the complexion of the market is changing. we had this brief respite yesterday. we came off what i describe as the stormy bottom on friday thanks to the fact that the 60
10:32 am
minutes program had very few new and substantive revelations and the treasury secretary has also issued some less hawkish trade concerns but i think these will be fleeting and i think the market made a peak in late january. the s&p is around 2650 now. i think we have a fair market value of about 250 points lower. and with the possibility of downside as low as 2200, versus upside of 2850. that is not a real great risk/reward to me. seems to me the complexion of the market is changing. you are clearly not one of the sunshine guys. that's a fact. that is okay. we want your opinion. you have given it to us. i want to talk to you about facebook. more negatives appeared today. 37 states attorneys general
10:33 am
investigating them. cook county is suing them and want money. zuckerberg will not go to britain to testify. he is looking at somebody else. i'm looking at those as negatives. my question to you, doug, would you buy facebook at 162 right now? >> the problem facing facebook as well as google and amazon and many of the social media companies, stuart, is that the technological advances of these companies have made in the last decade or so are out-speeding the regulatory oversight and even out-speeding the ftc and at this trust rules. this poses an ex-essential threat which accelerated in recent weeks because the systemic sloppiness at facebook which i might add started out a year ago, when they incorrectly reported usage to advertiser. now they have a problem, and higher costs associated with
10:34 am
protect and distributes personal data. that is not the only problem facing facebook. the digital advertising market has limited growth ahead. facebook has captured lion's share, 85% of that market. cost of content are rising and costs of monitoring personal tate at that and content is rising sow the expectations of 30, 35%s growth for facebook are far too high, if it is sub20% i think, we'll have continued devaluation of the company. stuart: doug kass is not one of sunshine boys. i will try last one. two guests said buy it at $12 range. some people followed that advice. it went to $13 a share. would doug cast buy an old
10:35 am
dinosaur like ge at 13? >> i say this very respectfully. i graduated second in my class in the mba program in wharton a couple years ago, like 40 years ago, and i'm pretty good in analyzing balance sheets and income statements. general electric is one of the least transparent and most opaque companies i have ever tried to analyze. and though, though some of your talking heads may have a gut feel and tend to buy because the price is low, if i can't analyze a company, i can't make an investment conclusion. stuart: well, not quite sure where to go with this, but doug, we value your opinion, i know you are a big hitter on wall street. i think you may have just moved the markets certainly on facebook. doug kass, thank you for joining us, sir. we appreciate it. >> thank you for having me, stuart. stuart: good stuff. ain't one of the sunshine boys. ashley: no.
10:36 am
stuart: we turned fractionally lower. i call this a dead flat market. i think i'm accurate at this point. we're down 22 points. down eight, there you have it. ashley: stability i guess you could say. stuart: stability? ashley: as much as you can say there is. stuart: brian kilmeade with us now. the host of the "brian kilmeade show." we're on the radio together as of right now. brian, top of the hour i was talking about president trump taking a hard-line on foreign policy and it is working. i think he has brought the chinese to the trade table. i think he has brought kim jong-un, he confronted him. nobody else has done that. he had a very sharp edged response to the russians, rallying the west to go after the russians. i think letting trump be trump is working. what say you? >> a couple of things. if you notice he is tough with sanctions and actions but not tough in bluster with chinese for the most part. 80% of the tweets rhetoric, positive, not necessarily
10:37 am
negative or neutral. when it comes to russia he obviously didn't say anything bad about vladmir putin but as we've heard over and over again he has been tough on russia over first 14 months than president obama was the last eight years. keep in mind in march he agreed to sell anti-tank rockets, missiles to the ukrainians. keep in mind two weeks ago he sanctioned 13 organizations as well as different oligarchs for meddling in our election with more to come. yesterday with the 60 expell shuns shows a tough edge -- expulsions. the russians made it hard. nerve attacks from the uk, what do they expect the west to do? we mentioned this last week, stuart. i really think this world cup is in jeopardy. if they mirror this reaction, with 22 nations throwing out russian diplomats and spies. if they do that to these other nations, what choice do people
10:38 am
have? if you're spain, do you send your team over there? if you're germany do you send your team over there? my goodness if you're british do you send your team over there or do you let this thug in a renegade country rule over you? stuart: there is some fear that english soccer fans when they go to russia will be in danger themselves i think the british government issued a warning. ashley: they have. yep. stuart: watch out. i don't think it will rise to the level of the cancellation of the world cup or serious interruptions for it. >> they can have it and play qatar in the finals. if we don't show up, america did a good job -- stuart: i wouldn't support that. brian, i'm sorry, i wouldn't support the english or the germans or anybody else from boycotting the world cup because of the activities of putin. would i not support that, would you? >> yes. a nerve gas attack. imagine if he did that in new york city? what stops them from doing it in
10:39 am
hamburg tomorrow? i mean they're doing it. they must have killed, look back, they killed, 12 separate people inside of britain. they have no fear of the rest of the world. if you read anything on vladmir putin, the only thing he understands is strength. i would get when it comes to that. stuart: okay. maybe trump should be trump and take a tough line there. the team will not be there, i got it. former new york giants cory whit her, declined his nomination to the montana football hall of fame because the sport destroyed his life and health. he is worried about the cte. what do you say about that. >> he is 49 years old. montana says you're going to the hall of fame. no, football risked my life. they did not treat concussions way you should have treated them. they're paying the price, past generation. millions league is making, make sure that men played prior to them are taken care of.
10:40 am
i don't know what it is about these guys, harry carson, guys played in '80s and '90s, they weren't making much money, they had no guaranteed contracts. can you pass it on? they're slow to the game. they're getting better. i understand the bitterness, from mark mark gastineau. even joe namath. i would find it hard to believe joe namath would rather be in a coal mine than play football. that is what he saying. stuart: owners still can't agree how to handling the kneeling protest when next season starts. >> they have to get together with the union and understand what the nba unstood. we have problems with america. but we have to agree we're all americans. when you take a knee you're saying the country is not good enough for you. even if your cause is right, we can't get past what you're doing during the national anthem. the people that pay their salaries are staying away. the owners are trying to get
10:41 am
that through their heads. when they see the owners, they're seeing white males who have ownership over them. they're not seeing people who run a company looking to make the most for their product. the players are the product. they're getting paid well to do it. they should understand they're in it together. after all i believe they get 55% of the revenue. get it together, guys. stand up, don't stay in the locker room. then tell us what is wrong with the country. we're all ears. stuart: well-said, brian kilmeade. you're fired up today. that is all good. brian kilmeade. we'll see you real soon. >> say hello to the panel for me. stuart: always do. a chinese solar company says it is building a factory in this company. they're the first chinese company to set up a factory since president trump announce those tariffs. we're on that story. john cox, republican candidate for california, gaining ground on gavin newsom. support for cox doubling in the past month. he is frequent guest on this program. ashley: there you go.
10:42 am
stuart: john cox coming up in our next hour. more "varney" after this. ♪
10:43 am
♪ ashley: in the last hour we spoke with steve hilton about the data scandal at facebook and he says the real issue here is a lack of competition.
10:44 am
roll tape. >> another point i would make on the regulation is for me the, the important issue here is not so much regulating the behavior of these companies. the real issue is a lack of competition in these marketplaces. so i think the type of regulation you really want to see is much more structural. that is actually, as one of my guests on the show on sunday was arguing, breaking up these companies, so you get much more competition because it is incredibly monopolistic world. stuart: the problem antitrust regulations are written for totally different era for industrial companies, not computer companies. that is the problem. today, we're out here with some surprising facts about type 2 diabetes. so you have type 2 diabetes, right? yeah. yes i do. okay so you diet, you exercise, you manage your a1c? that's the plan. what about your heart? what do you mean my heart? the truth is, type 2 diabetes can make you twice as likely to
10:45 am
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. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. 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
10:46 am
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. stuart: take a look at general electric. very much in the news today. the stock is up 4%. on the program this morning, two of our regular guests, market watchers said yes, buy that thing. buy general electric. when they said that, it was back at $12.80 a share. they came on strong. buy it, they said. evidently people did. 13.40 is the price right now. ashley: power of the varney show i think doug kass took facebook down a little bit.
10:47 am
>> didn't like it. stuart: a chinese company, will be the first chinese company to open a factory in america after president trump announced those tariffs. dan holler is with us, heritage action for america vice president. dan is this, i don't know, this new factory here from a chinese company, is this the direct result of the tariffs? >> well time being certainly does seem to overlap, doesn't it? i think one of the things people have been struggling with as the president took a more aggressive posture on trade, something he campaigned about, we shouldn't be surprised he is going in this direction. we're always sort of curious. everybody was, certainly markets were, how would this turn out? what were the repercussions. would chinese and others come to the table? seems like people want to come to the table. they recognize having open markets and access. through these tactics the trump administration helps advance that, on net that is a good outcome.
10:48 am
most people were opposed when president trump imposed tariffs. you will start a trade war. you're opening a strong bargaining position. strong position you're taking. maybe that is working because, china is now coming to the table, would you agree with that? >> certainly seems to be. i do think that there is reaction to overreact to every single thing that happens, especially with this president. there is probably too much of a reaction when he laid out the initial offer. we should be careful about not making too much this right now, but it seems things are heading in the right direction as some of these other countries are recognizing need too restrictive limits placed on u.s. imports in their countries. if they're coming around to that. they're investing in the united states. that is the result we're heading in a good direction. stuart: i want to get back to that $1.3 trillion spending bill. we have a new fox poll and it shows the gop is coming back. in october 201735% said they
10:49 am
would vote republican. now the number is up to 41%. now you have got this spending bill, 1.3 trillion which doesn't contain a lot of things president wanted. is the spending bill a problem for the republicans in november? >> it certainly could be a problem. when you look at spending bill, you see a whole bunch of broken promises from the republicans and the administration. one of the good silver linings is obviously spending on military. it didn't include a bailout of obamacare. the fact we didn't bailout and expand obamacare is good thing. maybe if they use that repealing and replacing for obama care, for more choice and access of people hurt under the law, that might boost chances heading towards november. stuart: do you think paul ryan should resign as speaker of the house before november? >> you know, as long as there is a speaker of the house there are going to be rumors about the speaker of the house resigning or being in trouble or something along those lines.
10:50 am
i think that is sort of inside washington chatter. those rumors will exist but the important thing is to get back to the policy point and what can the republicans in congress do right now to deliver on promises they made voters a year 1/2 ago. if they don't deliver on those promises is, who the speaker is doesn't matter. stuart: get on with it. thank you, dan for joining us. president reagan dubbed the great communicator, rightly so, he was fantastic. could donald trump be more effective. the man who wrote one of the books on reagan says trump's style could be even more powerful than reagan. them's fighting words. we'll discuss it in a minute. .a. tripadvisor helps you book a... ...hotel without breaking a sweat. because we now instantly... ...search over 200 booking sites
10:51 am
...to find you the lowest price... ...on the hotel you want. don't sweat your booking. tripadvisor. the latest reviews. the lowest prices.
10:52 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.
10:53 am
10:54 am
stuart: all right, president trump and president reagan, both effective, powellerful communicate -- communicators. author the nights with the reagans. it's a great book. i read it. mark, reagan is a great communicator, but trump ask more powerful communicator. make your case. >> ronald reagan is the great communicator, always will be, but in terms of power, shared numbers, the way social media
10:55 am
reaches every household in this country, probably exceed what reagan was able to do on television. and by that measure, trump is a very, perhaps more powerful communicator and i'm struck by the fact as i was writing "movie nights with the reagans," i'm struck by the fact they both came from the entertainment industry which i think gave them the skills to know how to reach a broad audience. stuart: now ronald reagan used humor, self-deprecating humor as you point out. >> yes. stuart: that was his style. and that i think was what made him very effective. president trump does not use self-deprecating humor. >> no. stuart: he is who he is. insults very freely. think that is more powerful than humor? >> that is a great question. president reagan had a great sense of humor mostly about himself and helped communicate the message.
10:56 am
when president trump did the thing with cpac, the back of his hair, for a moment at least was self-deprecating, and humorous we saw a side of him you couldn't help but like. stuart: you think he would be get better, more powerful if he turned on some charm? >> yes. one of the things mrs. reagan told me for this book she learned and her husband learned in hollywood how to develop a thick skin. that helped them in public life. and i think president trump may want to think about that. stuart: i can't ever forget the line that ronald reagan delivered in a presidential debate, and i forget, walter mondale. i will not let the youth and inexperience of my opponent affect my decision or something like that. >> that's right. stuart: at mo attempt, bang, it's over. >> he knew everybody was making fun of him for being old. he wasn't bothered by it, but he knew exactly how to diffuse the issue with a smile. remember, every moment in his wife he had a quip.
10:57 am
we're coming up on the 30th anniversary of the assassination attempt. all in all i would rather be in philadelphia and honey, i forgot to duck. stuart: thank you, mark. >> thanks for having me. stuart: there you are. more "varney" after this.
10:58 am
10:59 am
11:00 am
stuart: in 2020 you will be asked if you are a citizen of the united states of america. the question will appear on the census. uproar on the left. there will be an undercount. resources will not be allocated properly. telephone's atty. gen. will sue. it is a bad deal and it is illegal. this is obviously all about illegal immigration. how many illegals are here.
11:01 am
and voting is based on citizenship. of the government does not ask if your citizen how do we know who is entitled to vote and how many legal voters there are. they are going out to hide and protect illegals in the democrat run legislature is making it illegal for them to vote. the senses helps how money is spread around. california is concerned many illegals would not identify themselves. that would mean less money for the feds. they want your money. underlying this is the left's contempt for donald trump. nowhere is that contempt more
11:02 am
obvious than in california. i don't care for the overused expression you can't make this up but how else you explain this lose the atty. gen. of the formerly golden state is, illegal to ask illegals if they are illegal blanche the third hour of "varney and company" is about to begin. i hope you heard my editorial. later this hour we will get reaction from - they are in second place in the latest poll, closing the gap with democrat leader gavin newsom. let's get to the markets. sec the big board. we are up 60. it is an up-and-down day.
11:03 am
they are up 70 points. joining us, john lay field. you are laughing. the stock market relative to earnings dividends and the fundamental environment, and closer to fair value then that the beginning of the year. a lot of it depends on headlines that come in over the transom. stuart: do we have room to go on the upside over and above january appetites? >> i believe so. we are betting on someone betting it is illegal to ask illegals if it is illegal.
11:04 am
and you are betting on caprices politicians acting consistently, very scary to do something like this. we have a leg up from here. stuart: i want to talk about facebook. would you buy facebook? it is 158, would you buy it? >> i own facebook, i'm not selling it. i'm in the black, they had a credible run up. they are going to get this right, they have mobile media. that is normal. he has not communicated his message well. stuart: facebook, 158 or 159, would you buy it? >> we hold it but the regulatory risk is enormous.
11:05 am
the one risk they run, if you look at their privacy button over the last several years it was like the door closed button in the elevator. there was nothing attached. might make you feel good hitting it but didn't have any impact. they have to answer to regulators and that is the downside risk. google will be swept into the privacy maelstrom. amazon, like i said, their competition isn't from anywhere else except themselves. stuart: question to jack and john. is mark zuckerberg the right guy to be leading facebook at this time? >> i think this could be the steve jobs moments of apple. it may be he needs to take some time off to get someone to get the company back on track.
11:06 am
>> absolutely. i think he is the right guy. he is not the right person to be in front of the media. stuart: talk about general electric, and the dow 30 stocks up 4%. are you buying ge at $4.40 a share? >> >> it as leverage to global trade and emerging markets. if you believe the caprices politicians keep their mouths closed, ge should trend higher for the rest of the year. >> the biggest losers, sold some of it and a little stock, the best in aircraft engines and wind turbines, they are a great company, value was too high. stuart: astonishingly general
11:07 am
electric is worthless, who would have thought? thank you very much for joining us. now i am going to talk microsoft. expecting shares to hit $130, a gain of 40%. analysts say the outlook for the cloud business is the ticket. 130 in 12 months and i am hoping they are right. look at forward, teaming up with allie barber on a vending machine for cars in china. trying to try them before you buy all without the help of a salesperson, just have to pay a fee, have your face scanned and spend the next 3 days using the car before returning it to the
11:08 am
machine. california, gubernatorial debate, one person was noticeably absent, gavin newsom. he chose to attend a fundraiser. we will be joined by republican candidate john cox who has moved up in the polls, newsom has moved down a fraction. a big shortage of truck drivers, affecting restaurants and grocery stores across the country. we are on that story, why the shortage of truck drivers? national republican congressional committee opening a field office in orange county, california. the are in c joined us next, a blue wave in california. ♪
11:09 am
11:10 am
11:11 am
11:12 am
stuart: apple has set a date when it starts releasing the original programming, march 2019. it plans to spend $1 billion on shows and movies, steven spielberg, jennifer aniston, but wait another year before they get seriously into the streaming business. i call that late to the game. not affecting the stock but maybe it will in the future. the gop opening field office in orange county, california, worried about democrats making waves in the formerly golden state. joining us, kaylee mcinerney. what took so long? surely it has been obvious that california is heavily democrat and they could pick up a lot of seats in november. why only now are you doing the field office in orange county?
11:13 am
>> the are in c has had staff on the ground for a long time, 9 staffers there now so we have been there and we know this is a competitive area. this is the counterpart who is opening the field office, pile on top of what is going to be a significant investment, we have been there on the ground and we know what we are up against, history challenges us on this front. stuart: democrats need 23 extra seats in the house to control the house. a third of those 23, the seats they need our contested seats in california. you are up against it. >> the nice thing about california that is very encouraging is the way the primaries are set up. the top two vote getters advanced to the general. that means you have 8 or 9 democrats running, two republicans on the other side,
11:14 am
there's a real chance of two republicans advancing forward because democrats are tearing one another apart and splitting the vote. that is the one good thing about california. stuart: i you struggling after the spending bill, voters are very upset what was passed by congress because trump voters did not get what they voted for. the wall, immigration, they didn't get it and there are a lot of them. a lot of people very upset with republican leadership. paul ryan, mitch mcconnell. >> donald trump was no fan of the only best despite military spending which was important and the reason he signed it but when we look at this, this is why it is important to make this argument, we needed 9 democrats to keep the government open. name one democrat who would vote with us on the wall. i can't name one. we need to expand our majority, we need 9 more republican senators and need to keep the house close this bill is
11:15 am
evidence of that. it should energize our base, not this incentivize him from showing up. stuart: a was no punishment for sensory cities or sanctuary states. only $1.6 billion for the wall and that was largely for a fence and replacement of existing wall structures which are falling down, the president didn't get anything on the immigration side of this deal and yet the house voted for it. forget the senate. i understand the balance of power but the house voted for this spending bill. >> they realize they did not want to shut down the government like the democrats did and they got blamed for it and that was not a good scenario but we are with you. we want to defund sensory cities. we want to defund planned parenthood. these are basic conservative principles. that is what we want but we need more senators. we cannot do this without getting more senators or changing the rules to a simple
11:16 am
majority in the senate which by the way is what donald trump once. he is putting pressure on the senate to say change the rules. we need a simple majority vote your. stuart: i don't know how many republican congresspeople we have had on this show saying that spending bill, we signed it, it is going to kill us in november. it will not get you extra votes will reduce your votes. >> a matter of national security, donald trump said we have hundreds of billions of dollars drained out of our military during the obama administration, we need to fund our military and that has to come first. he said he won't sign another one like it but we needed to fund the military and give our troops a raise. stuart: we hear you and thanks for coming on board today. twitter shares down after one investment firm said it is betting against the company. see that influence down 5%. the price of gold down $12 earlier. down 12 bucks now, 1348 is the price and the other market which we cover frequently, but going, what is the price today, where is it? it is above $9000 recently,
11:17 am
down today. 8500 on big coin and now this. roseann calling out jimmy kimmel for his opposition to donald trump. you are going to hear what she said very soon. easter this sunday, new survey reveals the best city to celebrate the holiday, can you guess? how are you going to celebrate i wonder? the healthiest community in america, can you guess where it is? questions and answers after this.
11:18 am
11:19 am
but i'm not standing still... and with godaddy, i've made my ideas real. ♪
11:20 am
♪ i made my own way, now it's time to make yours. ♪ ♪ everything is working, working, just like it should ♪
11:21 am
stuart: we asked you to name the healthiest community in america, falls church, virginia. top quality healthcare, recreational opportunities, safe neighborhoods. rounding up the five, douglas county, colorado, los alamos county, new mexico and dukes county in massachusetts. the best city for celebrating easter, new york.
11:22 am
according to while at home is number one because it has the most brunch restaurants, the most candy and chocolate shops, more easter egg hunts than any place in the nation, no mention of churches or attendance. rounding out the top 5, st. louis, chicago, pittsburgh and los angeles. a japanese company plans to unveil the world's first artificial meteor shower in 2020. it is called astro live experience carrying 400 metal spheres. they are released, burn up in the atmosphere, resembling real meteors. the company plans more of these displays, each one costs $40,000. ashley: each meteor? stuart: about his company making giant lollipops did that look like your face. firebox is becoming, it is $60 a pop. send in the picture and have it
11:23 am
delivered to you as fast as you want, narcissism edible. we are getting a first look at the world's largest cruiseship, the symphony of the sea takes 7000 passengers, it has a water park on the top deck, miniature golf course, set sail from barcelona this saturday. after the sending bill some are calling for mitch mcconnell and paul ryan to sit down, paul ryan associate going nowhere. a truck driver shortage. why don't we have enough drivers? the answer to that question coming up as well. ♪
11:24 am
11:25 am
11:26 am
11:27 am
. can i explain why i think there's a shortage of truck drivers? you can find people with clean records who can pass a drug test. that is the problem, isn't it?
11:28 am
>> some might characterize it like that but a more beneficial reply would be paid for truck drivers has been falling for 3 decades while the demand and responsibilities of the job have been going exactly the opposite. it will always be difficult to find people to do jobs that are hard, that don't pay much. stuart: you do take my point? in the age where marijuana is legal but recreational use, and age where drunk driving convictions have gone straight up over a long time you are finding it difficult not to find guys and ladies to work at the right price but are qualified to drive because you have a liability problem. >> those are issues but those
11:29 am
are generally issues that are handled at the recruiting end. there are plenty of people that enter every year, states issue 400,000 new commercial driver licenses, the vast majority for truck drivers, every year. what happens is those drivers go to work for companies, generally the big large publicly traded companies and get burned out, they get burned out after a few months, sometimes 6 but almost all of them within a year. 100% turnover is the norm for big publicly traded companies. stuart: i can see how you would have an age problem, older drivers retire, they are used to what goes on in the truck driving business but younger folks not that interested in driving 1000 miles between destinations. 's age a factor as well? >> certainly those that have been out there on the mode, they count their miles by the
11:30 am
millions. younger people are not interested in moving into a profession. pay has been falling for three decades, adjusted pay for drivers, half of what it was three decades ago. that trend hasn't changed. and isn't bad, couple that with workweeks that are 75 to 80 hours long. they are gone for weeks at a time, sometimes months. people will look to replace and that is what is going on. stuart: i am fascinated by what you just said. the average adjusted income of the truck driver today is less
11:31 am
then half what it was 30 years ago? really? >> absolutely and is exactly that. stuart: the average adjustment - what is the average adjusted income of a truck driver today? >> department of labor said it was $41,000, some trucking companies have it a little higher. you are talking a work week 70 to 80 hours long. most of the time away from home. stuart: less than it was, $41,000. $80,000, 30 years ago, $40,000 now. i am astonished. >> comparing pay with the consumer price index drivers need to be making twice to keep
11:32 am
up. after deregulation many trucking companies became publicly traded, grew rapidly, recruiting nothing but new people, people that get paid by the mile and work the heck out of them and they have been very good at doing it but it reached the point drivers can't be more productive yet pay continues. shareholders, lesser labor costs, and the big guys set the standard, trucking is 90% small business but the big guy create the economic conditions and ironically they are also the ones that lobby for more regulations drivers generally hate. >> autonomous, self driving trucks going down the pipe.
11:33 am
you are laughing but that is the answer to the driver shortage. >> at some point that is a scary thought. it truly is a scary thought. a car that weighs 2000 pounds, it weighs 40 tons, a different animal, bear in mind trekkers operate in every kind of weather, snow, tornadoes, floods, hurricanes, when things go bad as far as the weather goes it is drivers that step up and bring relief supplies. i won't the automation replacing that. stuart: i take my hat off to the trekkers of this world. they are great people, they really are, appreciate you being with us. >> glad to be part of the show. stuart: better check the market
11:34 am
again. we are up 109 and climbing, 24,300 is where we are. take a look at facebook, down again $1.72. dave brett from virginia, welcome back to the program, good to see you. mark zuckerberg is not going to testify in front of the british parliament. don't know if he testifies before you guys, what kind of regulation is imposed on facebook? >> i follow adam smith of free-market economic that milton friedman and all the nobel prize winners in economics, i did a phd and taught economics in the first principle is you want competition. we have virtual monopolies with monopoly power over your personal life, your personal information, admitted they are unethical. you have to do some sort of antitrust and break up the
11:35 am
monopoly. and sick of the swamp, big insurance, big auto, big banks am a big everything. that is the opposite of free markets. no wonder people have a bad field for capitalism because we don't have capitalism. got to get back to small actors duking it against each other. that is what adam smith wanted, what james madison wanted on the political side, that made our country great and what we got to get back to to keep success going. >> would you extend that outside facebook to other tech giants? amazon for example has an enormous share. you would expend, if you use antitrust to break up name technology companies. >> not only is it not
11:36 am
competitive economically and special interests in dc on the budget travesty, they don't have a lobbyist in dc. spending money and putting the $21 trillion on their credit card. we have $100 trillion mandatory spending, and it is unfair to the kids. it is moral theft for children, this has to come to a end. they sent me to clean up the swamp, need to spend more people if they want the swamp clean. >> talking about the budget travesty which raises the issue of gop leadership in the house. paul ryan should step down, his office says he isn't going anywhere. what do you think? should paul ryan leave? >> i disagree with the premise a bit. especially mitch mcconnell. paul ryan in the house, we did a budget and paul promised to us, leadership promised to us we would stick with 218 votes would only republican vote on
11:37 am
the budget. that was the play call all year, they promised us that but epithelia between 9 democrat senators, got compromise a little to get something but at the end mitch mcconnell wouldn't do a budget at all and in the last budget document i mentioned on your show last time, rush limbaugh, hannity and laura ingram they don't want to do a budget in 2019. that means they can do reconciliation, we can't pass anything without having to get 60 votes in the senate. with reconciliation we are tax cuts through and to get another round of tax cuts through the senate has to do a budget so the president needs to get on the bully pulpit and say senate, one by one by one, do your job, your first duty is to do a budget, you got to do reconciliation, taxes, get people back to work, workforce, welfare reform, help people out of poverty traps into the country rolling.
11:38 am
it is already rolling but i want every kid getting a job. stuart: out, paul ryan needs to fight mitch mcconnell and says get it straight in the senate, hundreds of bills the senate won't pass. needs to send the signal out in public so the public understands this issue. stuart: appreciate you being on board with us. all right. a picture of this, this is the army. they want to use autonomous vehicles to carry soldiers, carry heavy stuff. that is one of them. the army will test four systems during the next fume and, they want to see how they handle
11:39 am
1000 pounds of gear of a different kind of terrain. don't tell me's soldiers carry 1000 pounds. if i was a soldier i would want one of them. real estate, big mall deal, brokefield, it doesn't already own, again, we will say it is about saving high end malls, you can forget the rest. that is a record low price and they just bought a company with a lot of high end malls. malls are in trouble. walmart hired an executive from the grocery, british grocery giant, head to head with amazon's grocery business, walmart at 87, not long ago it was 107.
11:40 am
a good acquisition. >> turn to people with a british accent. we got to show you this. a driver in san francisco ended up on a staircase, the driver said uber gps map directed him there. not my fault. rosanne blasting jimmy kimmel and the democrats. and this too. the atty. gen. suing the trump administration over its plan to add a citizenship question to the 20/20 census. we will talk to republican gubernatorial candidate john cox about that. he was the candidate at the debate last night that gavin newsom the democrat skipped. we will be back. how do you win at business?
11:41 am
stay at la quinta. where we're changing with stylish make-overs. then at your next meeting,
11:42 am
set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com nicole: big news, basketball fans. the nba and youtube have expanded on their partnership. you will see the 2018 final of the nba and the wnba, announced this week, $40 a month, the cleveland cavalier, the
11:43 am
most-watched final since 1998 and expansion on the partnership from 2005, billions of people have watched streaming videos. it tips off on may 31st where you will be able to see the partnership and the finals on youtube.
11:44 am
11:45 am
stuart: a report says mark zuckerberg will testify before congress, and testify before the british parliament, and will show up for america. facebook stock is down $.80. the reboot of rosanne premiers tonight, rosanne went after jimmy kimmel for his opposition to donald trump. role that tape. >> you were a socially liberal person in general. >> i'm still the same. you all moved. you went far out you lost me. a lot of us no matter who we voted for, we don't want to see our president fail. stuart: as i understand it, rosanne in real life likes and favors donald trump.
11:46 am
her character shows that on the air as well. how times change is all i can say. california's atty. gen. suing the trump administration, adding a citizenship question to the 2020 census. republican candidate for governor in california. xavier becerra says it is illegal for the government to ask that question. what is your response? >> the voters of the state should sue they veer for malpractice. this is another effort to distract the voters. it shouldn't be controversial that only citizens should be represented in congress and should only be the ones to vote but that is not what politicians want and lawsuits, we said in many times on the show, there to distract voters
11:47 am
of the state for the mess in california, the state is 50 out of 50 and quality of life, 9000 businesses left the state in the last 7 years, the most people in poverty, highest tax rates, regulations are crushing small business and keep suing donald trump and demonizing him. i was at a debate all about trump. they don't want to take ownership for the problems they created in this state. stuart: i have taken you to task, not yuba california in general saying republicans just can't win in the state of california but now i will refer to the debate you showed up for last night, democrat gavin newsom did not show up in the background of this is you are gaining in the polls, you are running behind newsom, second in the polls. i take it all back.
11:48 am
you are making progress and i am forced to admit that i was wrong. >> not only that but surveys we have done show this race is a dead heat in november. gavin newsom himself said democrats have to take ownership for the poverty rate, the miserable cost-of-living that we have. he is ducking these debates because i am a businessman, the problems over the last number of years, he doesn't want to own up to it. right now i will challenge gavin newsom to a one on one debate on your show. we will make him defend the horrendous record of the highest gas taxes, highest cost of living, highest housing crisis. people can't afford to live in this state anymore but business origination rate is ridiculously low.
11:49 am
there is almost no opportunity in the state, the roads are rotten, the education system keeps sucking more money and producing worse results. they have got to take responsibility for that. i am a businessman. i solve problems in the private sector. gavin newsom and his gang have created the problems and we will make him take ownership and this state will go in a different - >> we would love to see that and thanks for joining us this morning, appreciate you being here. look at a couple individual stocks, red hat, and all-time record high for the stock, a software company making -- glaxosmithkline $13 billion, their stake in the consumer health joint venture they have going. we save the best to last.
11:50 am
up 215 points. and that to the 669. ashley: almost 900 points. in response to california sanctuary law, the shasta permit in orange county, california will post inmates release dates online. the judge will comment after this. te 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.
11:51 am
the lowest prices.
11:52 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.
11:53 am
11:54 am
stuart: the sheriff's department in orange county is posting inmate release dates online. i have no idea why but the judge will know. judge and appellate -- agenda napolitano is here. judge napolitano: government transparency and to inform the feds i'm about to release somebody in case you are interested in picking this person up for another reason. stuart: this is about things race anything to worry state stuff so the sheriff gets around and saying this guy is coming out that they. judge napolitano: you spoke with the fellow running for
11:55 am
governor of california but is california seceding from the union, i am exaggerating a little but it shows what local government could do to correspond to the federal government when the state is trying to prevent it. by doing this he might be violating our california statute the constitutionality of which is under scrutiny. stuart: the sheriff may be doing something wrong. judge napolitano: by doing it he is helping the feds and probably reducing danger to federal agents. stuart: the more challenges laid at becerra app store the better. judge napolitano: by atty. gen. jeff sessions himself to the statute that purports to prevent the sheriff from doing this. ashley: got to stop california from seceding from the nation. they are going a long way toward perverting our
11:56 am
elections, federal elections and contaminate. judge napolitano: secession was addressed in the post civil war era. the supreme court said it would take consent 3 quarters of remaining states, that is not going to happen. that is as difficult as amending the constitution. stuart: retired supreme court justice john paul stevens says we ought to repeal the second amendment. judge napolitano: that is what we are talking about. it is very cumbersome to amend the constitution. it would take a vote of two thirds of each house of congress and 3 quarters of the state legislature and even if that happened it would not interfere with the right to keep and bear arms because the court on which he sets that it is a natural, fundamental human rights that just happens to be protected by the second amendment. stuart: a different supreme court could rule differently. judge napolitano: the second amendment didn't exist a
11:57 am
different supreme court would rule differently. stuart: it will always exist. judge napolitano: is unique to america. one of our colleagues said to me why not get rid of all guns in the country? we would have to start with the government's guns? i don't mean governments guns, the people guns. what would happen if we did that? if we did that we would be a nation of sheep. stuart: what makes america different. sometimes you are right. judge napolitano: will i be back tomorrow? stuart: more varney after this. ♪
11:58 am
. . . . let's begin.
11:59 am
yes or no? do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online. stuart: repeating report we had earlier this morning. zuckerberg, that gentleman there, mark zuckerberg will testify in front of congress. now, ash, we already knew we will not present himself in front of the brits. ashley: now the brits are
12:00 pm
getting a little about it, no, we don't want anybody else. we want you. apparently reports say he will speak directly to congress which i think is probably the right thing to do. if he doesn't he opens himself up. stuart: when he testifies we will cover him wall-to-wall. you will get no argument from me on that one. neil, it is yours. neil: he is kind of a monotone guy. be careful making that leap. i'm saying. thank you very much, stuart and ash. we're couple of other developments, soaring stock market, facebook, other technology stocks are doing just fine. we're getting indications that the chinese are set to to roll concessions to the united states. 1% of their overall semiconductors are bought from the united states. we have argued you can certainly afford to buy more than that we are the world's leader in the technology. that is apparently much of the attention is being focused. whether they buy

306 Views

info Stream Only

Uploaded by TV Archive on