dagen: big thank you to lea, jon and mitch, you can catch lea on instagram. [laughter] lea: i'm getting better. dagen: jon is not on social media. watch varney & company right now. stuart, take it away. stuart: thanks very much, good morning, dagen, good morning, everyone. take a big deep breath and let's plunge into a jam-packed day. look at this, the dow up maybe 300 points. the s&p 28. big gain for the technology indicater, the nasdaq, we are going up, why? china's president xi offered significant cuts to china's tariffs on american vehicles, investors took that and they like it, if this is trump-xi negotiation it is actually happening, big sigh of relief, however, president xi made no direct reference to the theft of intellectual property or technology transfers which are the most difficult issues. america, however, is frankly

reeling from political developments. the fbi has raided the home, the office and the hotel room of the president's personal lawyer, they've walked away with the president's personal records. how long before they are leaked as part of massive effort to undermine this presidency? , now this broke as the president was organizing america's response to the gassing of syrian women and children as the president said, disgraceful. wait, there's more. in a moment, a senator who spoke to mark zuckerberg right before today's facebook testimony, varney & company is about to begin. ♪ ♪ stuart: now, we will start with facebook under fire, the stock, however, pretty much dead flat, actually up 70 cents at the 158 level. hours from now mark zuckerberg will be on capitol hill

testifying about the data scandal that broke last month. senator john thune, mr. senator, what did zuckerberg tell you? >> hey, stuart, good morning. first off, we talked about the hearing obviously and the importance of him getting out ahead of this taking it head on and -- and aning the questions and being transparent and being accountable, i think that's what the american people want to see, i think that's what the members of congress certainly want to see in the wake of this sort of latest scandal. stuart: what was his tone in talking to you? was it reinforceful, defensive, how did he come across? >> i think he gets it, stuart, i think he understand that is he needs to be -- he is remorseful, obviously, i think he fundamentally believes that facebook missed the boat when it comes to these contracts that they had with the firms that were able to access a lot of their users' data and in some cases misused the data. he's taking, i think ownership of that responsible, which he

should and the question going forward, what will they do to protect people's' user data in the future. >> he said that he would take some steps which would reduce profitability of facebook, some kind of regulation i believe he expects, did he talk about that? >> i think what he's expressed is that they are open to some form of regulation, i think more than anything else, again, what most people want to see and i don't think anybody wants to undermine the business model that has made facebook so successful. i think what they do want is more transparency and they want to know, for example, when they consent to something, when they click on the user agreement, you know, what do they meaningfully consent to. when people assume when they become a facebook user that a certain amount of information is in public domain, how much of it is out there or how is it being used or misused, those are questions that most people don't

come to grips with and those are answer that is we need to get, frankly, how persuasive is the problem, it morphed into 50 million, now 87 million, are there other firms out there with whom facebook had had business relationship that is enabled those firms or businesses to get access to people's data and perhaps to misuse it. those are the questions that we need to find out. stuart: i expect the left is going to be particularly upset because facebook information was used by the trump campaign in the election. facebook information was also used in the 2012 reelection of president obama but the harsh questioning i suspect will come from democrats today, what say you? >> i think that that's no question that the democrats will play that to the hill, they want to keep that in the news as much as they can but they have to acknowledge in 2012 as you pointed out these are not just dissimilar circumstances, the obama campaign very successfully used facebook to identify their

voters and to get them out on election day and, of course, at that time the left thought that was a brilliant move. so i'm sure they'll be a little bit of hypocrisy that gets said today at the hearing, but we want to focus on going forward, whether it's that issue or the issue of radicalization on some of the social media forms, you know, political bias in the news, aggregation service that facebook has, a lot of issues that have come to the service that require us to exercise more oversight and get answers and hopefully get more accountability. stuart: mr. senator, we will be seeing you later in the afternoon, thanks for joining us. yes, sir, get back to the future's market. how are we going to up, maybe 300 points higher, for the dow after china appear today offer a partial-mild blink on trade.

as a result of that, domestic car makers, that will be gm, ford, chrysler, fiat chrysler, they are on the upside right now, i see a big gain for tesla. they are the real winners. liz: yeah, they make their cars here and sell them over there. do-- they don't have factories n china. the tariff hits them hard, that's how much trouble balance sheet is under water, but watch this, so now tesla's revenue, 70% of revenue, 17% last year was china sales, lifting liftint tariff off of the backs of tesla means it could sell even more cars into china, all the automakers, most have factories there. stuart: the stock is up 9 bucks this morning. liz, thanks very much. switching gears, i mean, really switching gears, president trump blasted the fbi's raid of his personal lawyer's office, roll

tape. >> so i just heard that they broke into the office of one of my personal attorneys, good man, it's a disgraceful situation. a total witch hunt. i've been saying it for a long time. i've been wanting to keep it down, i believe over a million pages of documents to the special counsel, they continue to just go forward. stuart: you know who we need, the judge as in judge andrew napolitano and he is here. all right, judge, now, so mueller has the president's personal records or the authorities have the president's personal records, they have going to go through them. they can't use anything that relates to the president and russia. >> right. theoretically. stuart: they go through it and leak it, you know this is going to happen. >> i agree with you, it's a very, very dangerous situation and i can almost feel the president's anger coming through the screen last night.

so here is how it came down, bob mueller discovered or his fbi agents discovered evidence of bank fraud on the part of michael cohen, the president's lawyer, in new york city. bob mueller doesn't have a team up here, bob public schooler is not interested in bank fraud, he passes it onto u.s. attorney in lower man hat -- man hat happy, which is his duty, you pass it on to the local federal prosecutors, the federal prosecutor here, a trump appointee, goes to a federal judge and says, we have something very, very serious here at the risk of -- so serious that we are willing to risk the attorney-client privilege, invading the president's documents, would you give us search warrants, rockefeller, trump organization, apartment in new york city, hotel where he's residing while the apartment is being

renovated. information gathered, delivered to another federal judge in lower manhattan who will now vet it theoretically, removing what is information about donald trump, handing over information about michael cohen, what's the bank fraud they are looking for, stormy daniels, $130,000, did you truthfully tell the bank what your was going to do with the 130,000. stuart: there's no relationship with stormy daniels and russia, russia none. >> that's why this prosecution, investigation is being handled by another team appointed by president trump in lower man hat anticipate. stuart: this came from the top, a political decision that came from the top and must have been robert mueller. >> well, mueller discovered the information, but to his credit decided this is outside of my field. i'm going to give it to u.s. attorney in new york and let him decide what to do. stuart: i don't give any credit

to this man. he's undermining the country. you break down the door to have president's business, you invade attorney-client privilege, you do that on the grounds that maybe you've got something on bank fraud from his lawyer, this is outrageous, judge. >> if they did this to the president's lawyer, who is next, the son. stuart: talk to your priest after confession, therapist. >> it's a dangerous world we live in. i must tell you, it happens all of the time. the victim is the president of the united states. did jeff sessions know about this? did rod rosenstein authorize this? this is questions that the president needs to have answers to. stuart: they are out of control. totally so. deep state is very active. >> the u.s. attorney in lower man hat anticipate contributed to trump campaigned, campaigned for donald trump and appointed

for donald trump and he authorized. >> did they raid the clinton foundation, did they raid clinton's daughter? >> unfortunately is no. stuart: they did not. the judge we will discuss. >> not going away. stuart: all right, the justice department reportedly will allow buyer to buy monsanto, wait for it, hold on, ash. monsanto is gmo, genetically modified. ashley: it is. stuart: europeans hate this. ashley: but the combination of the two will create a behemoth in the industry worth 1 $00 billion. beyer the pharmaceutical company, monsanto based in st. louis is the leader in seeds as you say crop genes, make crops for resistant to pests and drought and so on, apparently the word is that this deal will go through but beyer will divest

some of the assets and give it to rival bsfa also another german company. >> i wish i could read german. [laughter] stuart: can i report that now? the president trump has canceled his south america trip. he was going to the summit of the americas. ashley: in lima, perú. stuart: canceled and not going because of the syria situation he needs to stay in control of that on top of that so he does not go to perú. okay. texas governor greg abbott says he's raising the number of national guard troops that his state sends to the border and he says, yes, they will be armed when on patrol. now, that's new. sergeant general says more people should learn to use opioid antidote narcan and wants people to carry around

everywhere they go. doc seagal on that. president trump will make decision on how he will respond to gas attack in syria will come very soon. here is my question, is killing assad an option that's on the table? general tom says don't do that, we will let him make his case after this. you're still here? we're voya! we stay with you to and through retirement. i get that voya is with me through retirement, i'm just surprised it means in my kitchen. so, that means no breakfast? voya. helping you to and through retirement.

stuart: we like to keep you up to date on what's approximately going to happen 14 minutes. we are are going to go up. big gain for s&p and nasdaq as well. boeing and caterpillar, they will open higher, their major exporters, they are up because we have what we consider to be positive news from china, how about this one too, kroger, will hire 11,000 employees including 2,000 managers, they plan antonio vest $500 million in wages trending in development for the next three years part of that because of tax cuts. syria, president trump will not travel to south america this

week, he's staying in dc to oversee the situation in syria. he says, he will make a decision on what to do with assad in the next day or two. maybe 24-48 hours, what's he going to do, tom in tom, former air force assistant vice chief of staff, all right, tom, general, can i get right at it? >> yes, sir. stuart: i know we disagree, should we kill assad? >> no, i don't think we need to kill assad. we have never tried to killed hitler, the fact is let's verify who, in fact, did it, stuart, there's the jury is still out in my opinion. i don't have the latest intelligence but the group was looking months ago for chlorine stocks. let's let the administration verify it. part of the process that's going on and taking more time is the president wants to make this a coalition response to have uk and french allies and others involved with this response,

once they verified that it was the assad regime. stuart: if they do verify it was the assad regime, you still don't think we should take him out? it would send remarkable message to kim jong un, wouldn't it? >> yes, it would and that is one of the considerations i'm sure they'll look at. i will take out his air force, his entire air force. now what we haven't heard is that an airplane that dropped these chlorine what happens or what was the device, the weapon system, artillery, what released it. that's what we have to find out, if it was an aircraft, i would take out his entire air force. stuart: if we some kind of attack, russians or iranians would be casual -- >> that's why we have to make absolutely sure that we verify

that it was, in fact, assad himself because if it was then the russians and iranians knew it was going to happen. he wouldn't do it without them knowing. stuart: you know, general, you're. >> ve strained this morning. i was expecting to go out of the box and have a got at somebody. >> i believe they win -- we win and they lose. targeting leaders starts a chain reaction that i don't really want to get into right now. stuart: gel, john tom, great to have you on the show. >> thanks, stuart. stuart: i want to get back to your money that is the stock market this morning, we are going up 300 points at the hoping bell, now this, former clinton treasury secretary larry summers comparing president trump's attacks on amazon to fascist dictator benito mulslini. you will hear, we will force you

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near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. this wi-fi is fast. i know! i know! i know! i know! when did brian move back in? brian's back? he doesn't get my room. he's only going to be here for like a week. like a month, tops. oh boy. wi-fi fast enough for the whole family is simple, easy, awesome. in many cultures, young men would stay with their families until their 40's. stuart: clinton treasury secretary larry summers comparing the president's attack on amazon to italy under musalin, roll tape. >> it is not the job of the president of the united states is to go on a jihad against a

company because he does not like the activities of a newspaper that is privately owned by its ceo. that is the kind of thing that happened in musalini's italy, that's the kind of thing that happens in totalitarian countries, that is not the kind of thing that happens in the american democracy. stuart: well, liz, ash, i think people on the left should be very careful about the language they use, musalini, fascist, racist, white supremacist, those are words you cannot take back which live forever and damage our body politics. liz: also musalini slaughtered a lot of people. larry summers went onto say -- the president shouldn't be attacking bezos over the washington post, you know, he doesn't think the president should pick winners and losers, obama sure did that under larry

summers' advisement, attack nuclear plants, pipelines. ashley: there's element of truth in there. he says probusiness republican should be the most servous about someone doing this, i kind of get the point, i get that. when you go to that extreme it's a hillary clinton deplorables moment where they'll be a backlash to that. stuart: didn't bill clinton go after microsoft because microsoft bill gates didn't open the wallet to the clinton campaign, didn't that happen? liz: that did happen. ashley: outrageous on many levels. liz: they undercut accountability. stuart: if you're in stocks, i should say, nearly 300 points for the dow, nearly 30 for s&p, big gain at about 90 points higher for heavy tech nasdaq. stay there, big day coming up. we are on it.

stuart: well, 30 seconds to go. we have assembled an all-star cast on upside for the market. you have to say it, i have no

clue how the market closes because the flow of news, you know never what's going to happen, you never know what the president will tweet, you don't know what china's xi will say and in the absence of knowing what they're going to say, you don't know what the market is going to do. it's 9:30. what day is it, tuesday morning, we are off and running and immediately up 250 points, 271, 336, 340. we are up. we are up. all of the dow stocks which have opened higher, 368 is where we are. up 368 and up by 1 and a half percent, how about that? it is up and a quarter percent. very solid gain, show me the nasdaq, please, it is up 1 and a half percent. very solid gain, 108 points on that one. a couple of individual stocks moving, domestic car makers, they are all higher, president xi of china promises more open

china market, that helps our guys, look at facebook, hours from now zuckerberg testifies on the data scandal, the stock right now virtually dead flat. china -- well, china partially blinked, partially blink on trade. president xi to cut tariffs on karim -- car import. who will help me through this day. d.r. barton, mike murphy. d.r., what do you think of the china blink? >> i think what we need to do is move toward cooperation as we do that to figure out how the biggest economies can work and china in their details, he gave us a great one. he did talk about helping out on intellectual property, i think that's one of the big things -- stuart: he said that before so

many times. >> he has to show action, i agree. i think that's why the market is so happy. stuart: bottom line, mike, is they are talking? mike: you asked if he blink, of course, he blinked. he put out tariffs for u.s. cars in china are ten times greater than they are for chinese in america, 24 hours later we get this announcement from the president of china that this is a blink, this is a negotiation, and this is a negotiation that as of right now the president is winning, that's why you're seeing the market up. stuart: up 400 points. tesla the big winner here. liz, tell me again why tesla is the big winner? liz: because they make cars here and they have been desperately trying to get into china to sell electric cars, a fifth of the sales come from china. you see the tariff coming off the back of tesla, its balance

sheet is under water, this is a big move for tesla to be able to get into in a bigger way into china. now the tariff is priced out. stuart: tesla is a winner, up 4.50, 294 on tesla. let's get to facebook, zuckerberg testifies on capitol hill in a couple of hours from now, mike, we think that regulations are coming enough to squash some of the profitability, what do you say? mike: you never want ceo of any company sit down in front of congress, i don't think it is going to have impact, stuart, if they go after facebook, they will have to go after all big techs, that's google, amazon, appear toll lesser degree. if that's where we are going, the regulations will be spread across the industry. an opportunity for facebook to have a paid option, 2 billion

users, paid option that would go directly. no ads or increase privacy, one or the other. stuart: you pay facebook so that your information is not used for anything, if it was a dollar a month from 2 billion or a billion users, that would be a billion a month. liz: the problem for zuckerberg, he's got to stop talking like he's running this nonprofit -- nonprofit. it's data form. they let apps in the door to make quizzes and games to people stay on facebook longer or come back to facebook. be real. stuart: i don't think anything will change. the fundamental business model of facebook will not be interfered with, i don't think. >> we have not seen this company this big continue to grow this fast, their cash flow has doubled in the last two years. ashley: business model will have

to change after this. but to mike murphy's point, they will go to subscription base, user streamers did the same thing, you want to listen to ads , get it for free. stuart: do you think that facebook will go to subscription service? mike: if you want to pay, you can pay or if you want to be free, stay free. stuart: would you pay? ashley: no. [laughter] stuart: would you pay, lizzie? i don't go on facebook. check the big board. [laughter] stuart: we are up -- stop laughing, murphy. 340 points. 24,320, when we talk china trade we always show you two stocks, big exporter boeing, well, the softening in the relationship on trade with china, boeing is up 8 bucks, back to $330 a share, the other stock is cat, caterpillar,

they are up 2% as we speak. now this one, kroger, going to hire 11,000 new employees including 2,000 managers, this is part of the tax cut deal, nonetheless, kroger is down a fraction. wal-mart going to offer online grocery delivery to 40% of u.s. homes, they are teaming up with outfit called post mates, enough for the stock to go up 65 cents. apparently not big a deal. the justice department allow beyer to buy monsanto, this is a huge deal. this is 62 billion-dollar deal. monsanto is down a fraction, beyer up a big. american medication of teacher threaten to remove business, so far the bank is resisting, are they right to resist, liz? liz: i don't think the american public wants banks to decide

which legal products that consumers can and cannot buy. stuart: i don't like consumer boycotts, period. what do you have d.r.? >> i have to my say brother works for wells and with that said, i think liz is spot on, if we are going to boycott people because of who they serve, we are telling businesses to cut out large portions of their business, i don't think that's right. stuart: i don't like boycotts, period. mike: you have a big union that represents people from both sides of the aisle. they could make the argument and someone there won't like something from every single company. stuart: that could hit the bottom line at wal-mart and target. d.r., i'm told that wal-mart does $13 billion worth of food stamp business.

>> 13 billion-dollar and that's the big-box stores because of their convenience and have low prices, you would want people to shop there. that's just how much they spend in food stamps, imagine if that cuts back. stuart: i would have thought -- >> big deal. stuart: far more jobs out there and wages are rising, presumably fewer people on food stamps. mike: you have jobs increasing and unedge employment decrees, the amount of foot stamps should be down. people who need it, that's what it's there but people out there taking advantage of the system. stuart: got it. infrastructure spending could create surge in pickup truck sales. we will not get an infrastructure bill this year, are we? mike: we are not. this is forward-looking, stuart.

contractors are busier, they go out and buy more pickup trucks, it's been going on for a long time. i would keep an eye on this, the pickup truck indicater, will show you signs of the economy and i think it will be picking up in the very near term because this economy as we talked about is stronger. stuart: how come you know about all of this? are you investigating pickup companies? >> we have invested in home builders, truck manufacturers, like the ford-150, the most popular pickup truck amongst contractors, we have watched it, we don't have positions in them right now but something that we track to get kind of gauge the health of the overall economy. stuart: smart move on f-150. >> pickup trucks getting the bulk of the sale. stuart: big wheels. [laughter] stuart: i love it.

it's so comfortable. liz: love the car. [laughter] stuart: i love it. hbo's programming box says netflix content feels exuberance of the 90's, the dot com bubble. >> i think that they'll be further consolidation and does have a little bit of that field. liz: wouldn't hbo guy like netflix 8 billion-dollar, especially if game of thrones is going off the air. stuart: it's ha -- that time. the dow is now up 400 points, just in time to say, d.r. and mike murphy, thank you very much. we will take it. okay, we will take it. that is a rally and a half in the first ten minutes. venezuela's president disinvited

from the summit of the americas and we have a venezuela insider that says maduro is scare today leave the country because he could be arrested if he stops -- steps off venezuelan soil, she's coming up next. the congressional budget office says, get ready for the deficit to explode, a trillion dollars a year starting in 2020, more varney after this. i am an indel advisor. 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

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stuart: all right, we were up 400 points, now we are up 383, 393, we will take it. look at volkswagen stock, the board is expected to replace the ceo very soon. investors like that. stock is up nearly 4%. a big green mild stone for

apple. tell me about it, please, nicole. nicole: apple is running on clean energy, i mean, this is the wave it have oh future, stock are 1.7%, apple put out a press release saying that it is now powered by 10% renewable energy sources. now there are caveats for this, for example, not every single electron is created by farms, they have certificates, renewable certificate that is they trade as commodities, so basically in a big power grid, maybe like a city in new york, they can't necessarily say it's all green energy but that's the goal and also in china, they also can be sure that everything is renewable energy, but that's the goal of the future and they have been working on it and they are very proud of it. stuart: i'm sure they are. ashley: they are still working with the windows.

stuart: congressional budget office predict the deficit will increase a trillion dollars a year starting in 2020. u.s. international trade commission chief, former, that man. [laughter] stuart: i didn't know you were international trade, peter. >> i've done a lot of things, i have been working longer than you. i was a digger and order cook and bus driver and teacher. stuart: i can top all of that but i won't go into it now. we have 3% growth, strong economy, and we have a trillion dollar deficit in 2020, that's not right, it's not supposed to be like that, is it? >> it is right. i'm sorry, secretary mnuchin, you will get more growth but not enough tax revenue and we will have growing deficits and could get pretty bigbie 2020. stuart: does it matter, peter, we have had growing deficits for so long, i have been reporting on it for years, never --

nothing really happens, when will it happen? >> i keep talking about this. depends on where you borrow the money, if we borrow from the varneys, doesn't matter, if they borrow from the chinese or dutch, it does matter. the real problem here is that so much of the money that is necessary to finance the deficit comes from abroad via the trade deficit, very complex, mechanics, lots of moving parts, that's the real problem, we are starting to inch up to the level of debts that, for example, spain had or greece had, we print the world's money, that only works as the world accepts our money as world money. there are signs that u.s. bonds are not being received with quite the same joy that they once were, credit agencies are getting nervous, when you're the reserve car currency you reallyw when you're going run out of money, guess what, the british

pound used to be the reserve currency and the net of that is stuart varney is now an american citizen. [laughter] stuart: you're right, peter. >> you're not printing the world's money anymore and have to live within means which is not bad. stuart: they went off the gold standard you knew -- >> that's right. stuart: now then, china, we hear they are talking, lowering car tariff import duties on car to america, you don't make much of it, do you? >> we have heard these kinds of promises before. they are basically trying to run out the clock on the trump administration, they have figured out that trump is in trouble for midterm elections and president xi will say whatever is necessary to get the dogs out of office back, the reality is even if he made the concessions and kept them, they will be far and reduce amount of investment that we require from chinese nationals in joint ventures and so forth. he's still requiring the joint ventures, when he goes to zero

on chinese investment requirements for u.s. investments in china, then we are talking. when he lowers the tariffs to the same level of the united states, then we are talking. the reality is you have to remember that mr. xi is not a dictator, he's an oligarch. if he goes too far, they will pull him back. we have seen this over and over again. as former u.s. trade official i will say this emphatically, when i'm talking to chinese trade official, i know he's probably lying and this is a very good case of that. mr. trump would be a fool to take this off seriously in private. he may something positive in public but fool to let xi off the hook with the promises. we have seen this before. stuart: strong stuff this morning. >> in the finger too. stuart: all right, peter, thank you very much, indeed. see you soon. >> take care. stuart: dow industrials up 300 points, plus every single one of the dow 30 stocks is green, that

means every single one of them up. drug company taking -- making, rather an $8.7 billion bet on gene therapy, dr. mark seagel will tell us how it works and he's next 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.

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stuart: we are holding to triple-digit 300-point rally, up 236 to be precise. novartis spends $30 billion for gene company. this is a big deal. medical center professor dr. mark segal, i want an example of successful gene therapy. >> this is one. stuart: which one? >> the muscle cell that is give you strength are weak and you're born with it, 10,000 cases in the united states. this company is correcting the defective gene, stuart, here is what they do, they literally take the right, smn1 and float it on the virus into the brain, that's how exciting this is. i always think we are talking science fiction, they take the

proper gene, float it into the brain with a virus and starts pumping out the correct protein and you get the strength back, it is working, it is going to be working for als, there's a hope for this type of therapy for cystic fibrosis, this therapy is the future. the particular treatment i described in stage 2, approved in year or two, working so far. very effective stuff. i think novartis is getting into the whole idea of advanced neuroscience because they are involved with other genetic therapies, i'm very excited about this. stuart: absolutely wonderful thing, it's not like you take a pill or something. this is -- manipulating the genetic structure of your body. >> it's us correcting what the gene got wrong, it's correcting faulty dna. stuart: right. it's good stuff. let me digress for one second,

the sergeant general wants more people to carry around the opioid antidote narcan, i think they call it and you vigorously approve of this, you think it's a good thing, don't you? >> especially because of what the overdoses are, 40,000 deaths from opioids a year now, it's because of elicit fentanyl, because what addicts are taking are more powerful than expected. heroin with fentanyl, stops breathing, it's a real proper place for the surgeon general to say, if you live with an addict, 2 million addicts in the united states, you should have the ability to -- to use this nasal spray to shove this narcan up their nose if they are breathing out of it, you can learn to identify it, that's called public responsibility. that's what we are supposed to do. we should all learn cpr, we should all have this if we know opioid addicts. stuart: you squirt something up

your nose, that's it. >> if they took opioid, this will bring it out, cvs health and walgreens will be stocking n this. stuart: if i'm unconscious for any other reason other than opioids, this thing won't hurt me, won't cincinnati. >> absolutely not. it will not hurt you, if it does bring you back, you to give it again in 2 minutes, people have to get proper introduction, no downside whatsoever. by the way, this doesn't enable opioid addiction, by the way. people are stuck on opioids, their lives are at risk, let's help them. stuart: got it. dr. mark seagal. president trump surrounded by military and national security leaders and he's forced to address the mueller probe as he considers action against syria. i found that astonishing and frankly disgraceful. my take on that top of the hour.

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talk to your doctor about xarelto®. stuart: you saw it unfold on television. deliberate, undermining of the trump presidency. as mr. trump said, disgraceful. it was in the white house, late afternoon. the president surrounded by national security people. they are discussing a strike on syria's bashar assad, who has again gassed women and children. obama did nothing about it. trump demand action. but wait, the president first had to deal with the fbi's raid on his personal lawyer, and the seizure of all of his personal records. i thought the lawyer client relationship was like a priest in a confession, or a therapist and a patient, inviolate. no, not in the age of chief inquisitor, robert mueller. this raid had nothing to do with russia or collusion, no. it was all about payments to a porn star. boy, the mueller investigation

has come a long way, hasn't it? you know it will go on forever. no sco solution? so what. if you look long and hard and breach attorney privilege you can find a damaging headline. that is what the democrats want to do, damage president trump. obama holdovers, buried in the federal bureaucracy had great success undermining the president and covering for hillary clinton. notice the lack of progress in the clinton probes and the never-ending and always expanding mueller investigation? like day and night they are. it seems the clintons walk on water. back to the white house meeting. that was the moment when the serious business of governing ran straight into the vicious politics of presidential destruction. the president has to mop up obama's foreign policy disaster but ambushed by political opponents who hate him, could care less about the damage they do to our country. disgraceful. the second hour of "varney & company" is about to

begin. ♪ holding to a 300 point gain. yes, we are. 314, 313, 24,293. intel is the big guest gainer on all dow 30 stocks. up 2 1/2%. boeing, caterpillar, helping to boost the dow industrials, they are dow stocks. they are rallying on fears, not on fears but on the possibility -- ashley: hopes. stuart: the hopes, you're right, ashley, the trade war with china is easing. how about those big tech names? they have been down recently. recovered some ground. all of them on the upside, very nicely so today. the market rallying because many people think china blinked on trade. scott shellady is with us. is that accurate, do you think?

did china actually blinked here or what? >> if you look what xi said overnight i think they did. maybe not blinked but he said the right things. that will give the market something to be happy about. he said right things before. i'm backpedaling that is the problem. all the things came out overnight and spoken about. we need to address the issue of intellectual property rights. that is something going forward. these tariffs, stuart, look we take in three times more than we sell them. it is really going to hurt them if we start the tit-for-tat. i think we're in a strong position. i think america believes we're in the right here. it is just not fair. we need to find a way the market is happy where we'll be with the future which we don't know yet. stuart: surely the market is responding to the fact it is a negotiation, it is a process. we're in the process. it is not a total standoff, where nobody speaks to anybody else, it is a negotiation. that is a plus, isn't it?

>> that is 100% correct. what he has done gotten to negotiating. this is right out of the playbook with donald trump. he did exact same thing with the nuclear bully. we got worried we would have nuclear war. everything is ratcheting higher and higher "rocket man," all he was shooting over japan. now we have an economic bully to worry about. he keeps ratcheting up higher and higher, then overnight talks they want to come to the table to negotiate. i think will end like the north korea issue. stuart: scott, you always tell us your true opinion. i will ask you your true opinion on bitcoin. bank of america says bit coin is a bubble about to pop. what say you? >> i agree. here is the bottom line, stuart. a large part of the selling point the way i understand it is, something that will be outside of the government's hands and cyber security with zuckerberg today, where these kind of things meet will be the number one thing. there is no way you will be able to keep the government out of

getting involved with profits made from bitcoin. it will not happen. they need the money. come on! that's what they do. if the government needs money, bitcoin will be regulated. that takes away a lot of foam. stuart: comes through for you, pounding the table in monday done. out of sight stuff. scott, see you real soon. promised. get back to the editorial i ranted about at the top of the hour, as the president was trying to govern and address the situation in syria fbi was raiding the offices of his personal lawyer. come in steve hilton ""the nextt revolution" host. the president call this is disgraceful. i agree with him. what say you. >> i agree with you, stuart, almost the first words in your take, the deliberate undermining of president is exactly what is going on. go back a year and a bit. the first weekend or so after the election in 2016 the establishment was in total shock

that this outsider, someone from outside of their ranks could have got elected president. very quickly that shock turned to rage and deliberate attempt as you said to undermine him. to take away the legitimacy that he earned having won the election. i think that what you're seeing is a constant playing out of that in different areas. and of course the center of it is the mueller probe. all the time what this shows the elites in the establishment to hate donald trump really care much more about the superficial things, about the things he says or tweets, the way he looks, even the things he eats then the substance of his presidency. in every single measure, not just the economy where you have got this incredible boom in investment, jobs coming back, incomes rising after decades staffing nation, as we heard on china, north korea, on syria, even tougher on russia than obama ever was, right across the border on substance he is doing

really well. they don't want to hear that because they can't stand him as an individual. stuart: they actually broke undo the door to his office, to his lawyer's office, took away all the personal records of the president and of his lawyer. that's a direct breach of the attorney/client special relationship. now the authorities have the president's personal records. they're not supposed to use them but steve, i will guarranty somebody leaks them to the benefit of those undermining our president. i think this is a disgraceful and atrocious situation. >> it really is. what you're seeing is the whole of the machinery of the establishment, not just the politics but media and bureaucracy. that is what is really scary for americans watching today. the fact the institutions supposed to be impartial to protect them, uphold the law and the constitution are actually working against their elected presidents. that's why you're right to use

the word that you did earlier and the president's quite right to describe it as a disgrace and a threat to all americans, not just him. stuart: can you comment on mark zuckerberg? he testifies on capitol hill later on today. alibaba's jack ma publicly challenged zuckerberg to fix the problem. what do you think zuckerberg has to do? i know you have a relationship with the facebook company. >> my wife is a senior executive there. there is something really deeper than the questions he will face today. they will be well-prepared. he already indicated he will make a full apology for not having dealt with this sooner and some data breaches that are immediate subject they will be talking about there is something deeper than facebook that rely on ads selling the business model. using private data to sell

well--targeted ads that is the fundamental issue they have to grapple with. playing out with this seemingly rather dodgy firm gotten involved in politics there. will be other ways that people feel their privacy is invaded. that goes to the heart of the business model. are they prepared to change that? is facebook prepared to change that? is google prepared to change that? that is exactly the same for them. stuart: let me ask you this, steve, if you were to pay facebook a dollar a month, say, in return they did not hughes any of your information, so you paid for the service, they didn't use your information, that an option you would take? >> i would. i think many people would. but the question is, this is where it really gets interesting, one argument that is all very well for people with money. the beauty of facebook and services like gmail and going

sell search is free. everyone can use it even those that do don't have the money to pay a dollar a month. share argument we're providing everyone this service for free. that is good argument. isn't that argument for treating you like a utility treating them with basic need everyone has? if they get into that argument it opens up a whole new world how they should be treated by government and should be regulated. stuart: it would be income, would it not? a dollar a month would be pretty good. >> it would be good income. i don't know if they go with it. stuart: we'll watch the show, that is a promise steve hilton. see you later. >> thank you. stuart: we have a big hour for you here on "varney & company." latin america leaders meeting at the end of this week. president trump canceling his trip there. venezuela's president nicholas maduro will go even though he is officially is uninvited. we'll have the latest on that one. texas boosting the number of

national guard troops sending to the border joining arizona and new mexico but where it california in this? friend of the show, larry elder, talks about this. yesterday we told but the most hated man in golf. see that pink shirt. he wanted to wear a red one and was told not to do that. that is coming up on "varney & company." ♪ this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible. [hero] i'll take my chances.

stuart: the direction is up some more. we're close to a 400 point gain, 377 to be precise. we have another plus from the tax cut deal. kroger is going to hire 11,000 new employees. that would include 2,000 managers. they say they are planning to invest 500 million in wages, training, development.

walmart to offer online grocery delivery to 40% of u.s. homes. they're teaming up with post mates. white house says president trump will not travel to lima, peru, or bogota, colombia sore full mitt of the americas -- for summit of americas to stay home to watch over that gas attack. what do you think of the president not going to the summit. >> that is a bit of a shame. latin america, perhaps not the mexicans, the rest of latin america, that love freedom, democracy and capitalism, absolutely love trump. he has the one that came forward. stuart: vanessa, hold on a second. are you kidding me? latin america really loves -- >> i'm not. i'm not. i'm not. the ones that are pro-american who are conservative.

latin america is a continent completely right versus left in terms of politics and what has happened is trump has taken a very strong line for the liberation of venezuela, and that has meant a big thing. that really sets the fault lines in the region. stuart: okay. >> so those people who care about those topics, getting rid of socialist leaders and returning, returning the continent to a coalition with the u.s., and free trade, like trump. stuart: who knew, who knew this? i did not know that. hold on a second. i have to ask you about president maduro, venezuela's president. >> yes. stuart: he says he wants to go to this summit. he has not been invited. >> no. stuart: i don't think you don't believe he will go because he is scared to leave the country. >> now he definitely is not going to go. he would originally go to stalk trump. he wanted to have a negotiation with trump, saying please stop sanctions, et cetera, et cetera. a number of things happened. this summit has been plagued by

a lot of issues. the first the president of peru got impeached for corruption. this was ppk. that was couple weeks ago. the non-elected vice president took over. that meant a bunch of people canceled because corruption is supposed to be a big issue here. it is plagued with problems, now trump will not go, can't to, maduro will be afraid to be picked up. the supreme court in exile and have asked interpol to arrest him. the authority is not really there. interpol will not do that. that is a call for the international community to support it. they will ask other countries to get interpol and europol to issue flag notices. the united states is moving towards a rico-style prosecution of maduro. you know the last person they did that with? noriega. stuart: in panama. >> yeah, anna. >> i ask you this every ingle

time on the show. you know it is coming. >> i know it is coming. stuart: how much longer does maduro have? >> i don't know. i need a crystal ball. stuart: well, newman your time is up. vanessa. thank you very much. >> thank you very. stuart: the justice department will allow germany's bayer to buy monsanto. ashley: yeah, but they will have to give up some stuff first, divest assets, what the eu regulators did. bayer is the giant pesticide pharmaceutical company buying monsanto based in st. louis, which is the big seed gene company. in other words they make the gmos which the europeans just love by the way. stuart: they hate them. ashley: it will be interesting, a big chemical company buying a big gmo company. as i say, they will actually love them on the continent of europe. stuart: you want a scare in europe? how about global warming. they're scared to death. how about gmos.

utterly terrified. ashley: franken food. stuart: dreadful stuff, those europeans. ashley: they live in fear. stuart: can we stay, liz? >> you can stay. you're no longer subjects of the queens right? stuart: hold on. serious subject. i put a straight face on. more fallout from wells fargo fake account scandal. the feds could be ready to slap the bank with a big fine up to a billion dollars. we have details on that one. coming up for you. ♪

stuart: as you know we have got a stock market rally. the price of gold is holding

pretty firm at 1343. it is up just three bucks. we have a nice gain for boeing and caterpillar. we have positive trade news, a little softening in the tone between china and america. boeing is up 8 bucks. caterpillar is up nearly $4. that adds quite a few points to the dow industrials which are up nearly 400. the government is reportedly getting ready to hit wells fargo with a very large fine. could be up to a billion dollars. i am told. here to tell me about it is kristina partsinevelos. is that correct? got it. it could be up to a billion dollars. >> right. stuart: is this all about the fake account scandal? >> no that was 2016. we're now in 2018. they are busted for consumer abuses. the first reason resolves around auto insurance. they supposedly convinced half a million customers to boy insurance they didn't need. the second major reason is

mortgages. what they did, made, small unauthorized changes to the accounts so you are paying smaller monthly payments but that term is being extended and people didn't even know about it. so they're getting more fees in the long term. last but not least a smaller part they were giving unfair treatment to certain customers if you had a good credit score you wouldn't have to pay certain kinds of insurance. this is coming from reuters. the consumer financial protection bureau going after wells fargo. ashley: another black eye. stuart: billion dollars. that is not that much for a bank of the size of wells fargo. that is a slap on the wrist. the stock is hardly moving. >> the brand. >> that is what happened. from 2016 what happened in 2016 they created 3.5 million fake, checking, savings, credit cards to make extra fees. the amount of fees they made off of that was 2.6 million. you mentioned a bill is not that much but their wealth management

company is worth 2.5 billion. a billion could hit them pretty baddest specially on wealth management side. a lot of customers are wondering what is going on with the reputation of the company going forward. we saw the company moments ago. it is not hit dramatically now. earnings are coming out on friday. there is two hearings on wednesday and thursday discussing this matter and this data leak. stuart: come on, come on. stock is at $52 a share. >> i know. stuart: the number is out there. the number is there. a billion dollars. you know the number. you know the risk. buy the stock. liz: mick mulvaney getting tough. >> exactly. he was appointed in november. liz: he runs the cfpb. >> he is not as big on regulation. this is the third largest lender in the united states. stuart: whoa. >> that means customers, i'm sure viewers wint react that way should they know go through their statements realize they have been dinged.

they too had to pay more for insurance. stuart: we are outraged! ashley: we got that. stuart: that was a great report though. kristina partsinevelos. thank you very much i i'm serious. >> i'm serious. liz: we're all serious. stuart: can you tell. the dow is up 434 points! can we get this straight? now this. president trump warning syria's assad there will be a big price to pay for the gas attack. could he be talking about killing assad? sebastian gorka, former advisor to the president, he will answer that question. yesterday we told but the most hated man in golf, patrick reed. see that pink shirt? he wanted to wear a red one. he was told, oh, you can do that. brian kilmeade will explain it all to me. ♪

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♪ stuart: we sit here every day at 10:30 trying to guess which song, beatles song our producers will play. we got it totally wrong. as soon as first chord, you know what it is. wonderful stuff. look at this! new high for the day, yes, sir. up 452 points, 24,430. we love it. how about the big tech names? love that too. amazon up 21. alphabet only $4 liar. apple is three bucks at 173. facebook of hearings of this afternoon, thats stock is up 1.7%, reaching 160.

vw, volkswagen's board will replace or is expected to replace the ceo this week. the market likes it. the stock is up nearly 5%. president trump met with his national security team. as he was meeting, in came news that the fbi raided his lawyer's offices his personal lawyer's offices. president tweeted a couple times. listen to this a total witch-hunt. another one, attorney/client privilege is dead. sebastian gorka with us, fox news national security analyst and. you share my feelings. that was a flat-out disgrace and appalling thing to happen in america. go ahead. >> it is truly outrageous, as former brit like yourself who chose this nation and is a proud american, i never thought i would see things like this happen. how long have we waited, stuart,

more than a year with this investigation? and they're charging paul manafort with wire fraud with regards to working for the ukrainian president a decade ago? it is a travesty. it is an utter, utter travesty. i thought being marine, vietnam vet, robert mueller was an honorable man, this is political hatchet job. stuart: what troubles me is, they raided his personal lawyer's offices, walked away with all the records. they will go through those records, they're not supposed to use anything connected to the president but it is going to be leaked. you know that the deep state will get all of it and leak it. that is outrageous again. >> right. this is a very important point, stu. think about the fact we have had more than a year of investigation and you know what the swamp is like. i work in the swamp. if there had been any evidence connecting the president to russia and collusion it would have already leaked.

they only leak the stuff they found that is damaging in other ways but has nothing, nothing to do with the original remit of the special counsel. so, it is a travesty and it has to end. stuart: you're a national security guy. what do you think about the syria situation? there is talk that maybe america should decapitate the syrian regime and kill assad. what would you say to that? >> well, number one that has been illegal since the 1970s. we're not allowed to assassinate other heads of state. there is a statute that says the u.s. president can not order the assassination of another head of state. but beyond that, it is stupid, it is dumb. assad is evil, yes. he is as bad if not worse than his father but he has the backing of russia. he has the backing of iran, and even has the backing of china. so you're not going to improve the situation by getting rid of one man. we have to send a very clear

message. as i wrote in "the hill" yesterday, the president is just about to do so with regards to chemical weapons and how that taboo can not be broken again. we're going to do things behind the scenes covertly to put an immense amount of pressure on him, his clique, his coterie in that dictatorship that will not be regime change because the geopolitical conditions do not obtain that would make that possible. the president doesn't do that he is not a neocon, stuart. stuart: if we take military action against syria, strong military action, whatever kind, odds are that russians and or iranians will be casualties. that escalates significantly, doesn't it? >> it does but russia is spread very, very thin. you look at what happened to the ruble yesterday. look at presence on the ground in syria. it is not a significant one. they have already lost a large amount, they're not even using their own troops because they realize how tenuous the

situation they're in, and they're using paid mercenaries. so there will be casualties and iran has to pay a big price for their support, sponsorship of this regime but yes, these nations they need to be sent a very clear message. the president is about to do so. sebastian gorka, thanks for joining us today. >> thank you, stuart. stuart: check the market. another new high for the dow industrials. look at this. now we're up 470 points, 24,440. there is talk we're softening our trade relationship with shine. that president xi blinked a little bit. that encouraged market. ashley: this is very much headline driven, tweet driven, but for now the news is positive on that end. stuart: look at that, 471 points higher. that is a rally. the big techs, loads of stocks are straight up today. tech-heavy gains. dow winners, caterpillar, exxon,

oil company, boeing great exporter, intel chips, dow dupont, chemical company. spread across the board. big gains. huge gains for the top winners in the s&p 500. now time to go to on the radio actually with brian kilmeade. he is the host of the "brian kilmeade show" and he is with us now. patrick reed, won the masters. yesterday we ask youd how some people seem to hate the guy but what's this about the outfit restrictions during the masters? can you address that. >> well at a time in which tiger woods was at his low point nike was there in the beginning, they won the bidding to get him when he was just after one year at stanford. he signed with nike. he was in. tiger woods worked with nike when they jumped into the golf club business, first to use it put him on the map. even though they bowed out. when he was going through his low point, nike stuck by him. phil knight loves him. one of the first to call the next day. tiger tries to come back and

play in a major he wears red on sundays even though nike is happy to be with reed, they said you do not wear red. so i think he chose, you guys would know better, fuchsia or magenta and what's the difference in the end? regardless, he wasn't tight like phil mickelson, when he was heavy used to wear tight shirts, made it hard to watch. he is a little heavy, reed. he wore a baggie shirt. it was a good move. stuart: gary player was on our show yesterday. i don't know whether you saw the interview but gary player 82 years old. i asked him, can you shoot your age? and he said, he did i missed that entirely. look, my average is 72. when he plays on a regular golf course he averages 72 per round and he is 82 years old. he still does 1000 crunches i think it is called four times a week with heavy medicine ball,

what do you call them in america. liz: that's fine. stuart: on his chest as he goes backwards and forwards. can you imagine that, the man is 82 years old, brian. >> what is interesting you're pretending like you can't do the same thing and humble of you, and you're a lot younger. gary player one. most kindest and confident men you ever meet. know what he overcame. he would take a bus eight or nine years old in south africa, to a small school. he was picked on often. able to overcome all of that. teach himself golf. become one of the world's best players in era littered with fantastic athletes like jack nicklaus and they are still friend day, do you play golf, brian. >> no. i've been asked by other people who play positively golf. one of these things, you never met someone more unnatural golfer but what i did, since i

have events that i can't get out of golf with very important people, i will, i will drill for every day for a weeks, in order just to be okay. to me that is not enjoyment you should be getting from a sport. stuart: you're pretty good on the radio without a lot of practice. three hours a day on radio. >> but i can hit it straight. stuart: there you go. brian kilmeade, everyone. he is all right. see you again. >> hope to see you in the halls. hope you say hello this time. stuart: here is what is coming up for you, good viewers of "varney & company." facebook chief mark zuckerberg on the hill. two senate committees will grill him. senator john kennedy, he is a sound bite machine. we will ask him questions. he is with us in our next hour. first newt gingrich says the ties are achanging. times that would be a republican could win a statewide election in california? really? larry elder responds to that. ♪

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♪ ashley: in the last hour senator john thune talked about mark zuckerberg's appearance before lawmakers this afternoon and the questions that need to be answered. roll tape. >> there seems to me at least people assume when they become a facebook user that a certain

amount of their information is probably out there in the public domain but how much of it is out there, how is it being used or misused? those are questions most people have not come to grips with yet and those are answers we need to get. frankly how pervasive is the problem? it started out at 300,000 users. now they're saying 87 million. are there other firms with whom facebook had business relationships enabled those firms or those businesses to get access to people's data and perhaps misuse it. those are questions we need to find out. ♪ here you go little guy.

a cockroach can survive submerged underwater for 30 minutes. wow. yeah.

not getting in today. terminix. defenders of home. stuart: bitcoin down, off 34 bucks. $6700 the price of a bitcoin this week. seagate technology got upgrade from morgan stanley. seagate makes little flash drives among other data storage product. now this, texas became the first state to send national guard troops to the southern border. they say they will add 300 each week until there are 1000 there. now new mexico and arizona are joining as well, sending tropical storm to their southern border, fighting illegal immigration and drug trafficking. got it. come in larry elder, salem radio nationally syndicated talk show

host. larry is in california. i want to know what california is doing with its national guard on the border? anything at all? >> the answer is, we don't know yet. the governor is mum whether he will join mexico, arizona and texas sending the national guard to the border. it is not a popular move to send the guard to the border. the wall is not popular and the governor has 53% approval rating. on other hand the number one job of government to protect its citizens and god forbid an illegal alien should get through and hurt somebody, that would be on the governor's hands. he is in tough position but my feeling he will not very much. governor schwarzenegger did not cooperate with president bush when he wanted to send troops to the border. stuart: do the people of california actually want an open border with mexico? because that is, i mean that is where they're heading?

if you make california a sanctuary state you're asking people to come across the border to come to your state. are calfornians really happy with that? >> stuart, this is a state where the politicians, some of them have bragged about the fact they have illegal aliens in their own families. the border wall is not popular. donald trump is despised in california. he has aa approval rating below 30%. saying screw you to the president is not very unsafe position to take. so that is where we are. this is a state where democrats dominate the state. there are not majorities of democrats in the senate and in the assembly. they are supermajorities. so they don't need republicans at all. this is where we are. it is an insane place. a lot of californians believe there ought not to be a border between california and mexico. that is how radical this places. stuart: look at headline from foxnews.com. this is written by former speaker newt gingrich. that headline reads california

may elect a republican governor. incredible as that sounds. you're laughing, larry. so to you it is completely out of the question? >> almost completely out of the question. look newt gingrich is very astute, in an era where donald trump came out of nowhere to take the presidency you can't say anything is impossible. however, only one in four voters registered voters in california is a republican. democrats have 2 1/2 million more registered voters than republicans do. as i mentioned not a single republican has been elected in this state since 2006 statewide. and the two major republican candidates, john cox and travis allen. i seen them both speak. they're very exciting speakers. nobody knows who they are. they don't have very much money. it will be a tough hall in a top two primary system. we have here in the california, first two primary winners go off against each other irrespective of party. it is not uncommon for there to

be a race in california pitting two democrats. that might very well be the case here. the leading democrat is gavin newsome. he is lieutenant governor. 28%. the republican guy, john cox has 14%. right under him the villaraigosa, the democrat mayor of l.a., former mayor of l.a. at 12%. if john cox and travis allen finish number two, you have to face a registration that has 2 1/2 million more democrats than republicans. it will be daunting. the reason governor schwarzenegger won because people were angry about a specific issue, that was the car tax. i don't see some issue like that igniting people to cause them to rethink their sum is shuns. i think newt gingrich is very optimistic. i don't think he is right. stuart: that is how he goes. larry elder, everybody. come back and see us soon please. >> anytime. stuart: coming up, greg abbott, the governor the texas, he will

talk border security with neil cavuto. that will be at noon today on this network. we'll be back. ♪

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stuart: i call this a rally and a half. 21,450 is where we are. 24,000. let's get to zuckerberg, right? he testifies on the hill this afternoon. our next guest is from an ad tech firm. facilitates media across digital media. they will tell you where you place your ad across digital media. welcome to the program. >> thank you. stuart: you say whatever comes down the pike of facebook will not reduce its profitability. you say that? >> yeah, i would say that. at least not in the near term. stuart: surely there will be some kind of regulation what they can do with the information, right? >> well, look, social media consumption i don't think is going to decline. any possible regulation over privacy may change how it is used but it is not going to decline and most importantly

there is a lot of demand for advertising on facebook and that is where facebook's profitability comes from. but the demand is not diminishing. stuart: but if you can not target the ads because you don't know about customers, then the ads are not as useful, so the revenue goes down. >> any potential regulation is about disclosure, not about the ability to use data. it is about making sure to disclose to consumers how data is being used. once be you get disclosed, facebook log-in your information might be used. once people understand how they are being used, they are fine with it. if they get ads, they want them to be more helpful. i don't think you will see the law in europe. gdr. the eu law of privacy. it is all about disclosure. i think you will see everyone saying i feel better because now

i know. now i know how its being used. stuart: supposing facebook said, you pay us a dollar a month, you will get facebook but we won't use your information at all, how many people will go for that option, subscription basically? >> right now. >> sheryl sandberg described it you might have to pay for privacy. bad choice of word. the you may opt out of paying for advertising. hbo, netflix, a lot of places. how many people will opt out of advertising? the tick rates like hulu, i think 10%. stuart: that's it. >> that is $2. you recover time in your day, people think, i'm not sure it is worth two dollars. most people say i am willing to have a free experience in

exchange for some use. stuart: most people would leave things as is. free service, do what you like with the information, am i right? >> do what you like responsibly. you know, one thing everybody is talking as if it's a privacy issue. it call goes back to politics. ford motor company -- stuart: wait a minute. i know where you're going with this i insist like this, the left, like yourself, is very angry because facebook's information was used in support of trump campaign and you hate that, doesn't you? >> well, i'm smiling, i'm definitely not very angry. stuart: highed it well. >> i'm definitely not a politician or a leftist by you think, thing thing on facebook -- stuart: you have 10 seconds, go. >> facebook provides the ability to reach billions of people. millions easily. they have to live up to that responsibility. stuart: you're all right, despite your politics.

[laughter]. more "varney" after this. got it.

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"face to face" we knew it was coming but when it arrived it was as bad and shocking as we thought. we are not talking about the raid on the president's lawyer, we are talking our government's debt. over the years i learned talking about deficits is a real turnoff. the red ink is with us and piling up, it is a long-running horror show. it has just gotten worse. by 2020 we will be back to $1 trillion worth of extra debt every year. how can this be? we have a strong economy, you're not supposed to be running up the national debt card when wages are up, and appointed his own and economic growth is the best of the decade. when times are good you balance your books, when times are bad

you borrow. be honest. this is the failure of the republican congress. the runaway spending bill made the problem worse. there was no serious attempt to cut spending. they are talking about cutting $60 billion, and effort worth supporting but does nothing to get to grips with an increasingly serious problem. do you think there are enough votes to reform social security and medicare, not a prayer. you think anyone in congress can cut government spending that would flow to constituents back home, and around spending. rarely votes for cuts. let me close with this. we have avoided a debt crisis because someone is willing to lend us money. sooner or later there will be a recession, the deficit won't b

$1 trillion a year, the moneylenders will be less willing to lend and the crisis will hit. the third hour of dan gelber is about to begin. there is nothing like starting the hour negative and you have a government rally on your hands. fears of a trade war with chinese ink, negotiating, and 29 of 30 stocks in the green, only one is down. 489 points, is all this is about his treed counts, she says this -- >> the conciliatory tone from

china's leader boosted the market considerably. trump is winning the trade war. stuart: you make that judgment? >> the leader of china realizes china has more to lose from a trade war then the united states. we won the only concrete thing, he might reduce vehicle tariffs into china. we don't send many cars. >> he said he would do more to increase chinese imports, he might take a harder line towards the stealing or theft of intellectual property. stuart: just a moment ago we hit plus 501, 21,482 as we speak. this is all trade, that is it. >> that is going on today. we when you know what is wrong? you are ignoring earnings season by this legal of this week and the week after and

things looking good. they are disrupting the market, and stock prices going harder. and this debt crisis which i believe is coming, on a day when the dow is up 500. am i right? is the debt bomb going to explode in the future? >> let's face it. having u.s. treasury debt as 100% gdp, about ten years from now. and the debt will naturally explode relative to gdp. one of the warnings is we cannot rely as much on fiscal stimulus next time we have an

economic downturn, and monetary stimulus, brings into play possibility of return of 0 interest rates. stuart: lucky you avoided the buzzer with that cute easter. >> the dow is still up close to 500 points. the dow is up 500 points across the board, continued unraveling of obamacare, and avoid paying the individual mandate penalty. does that mean if i don't if i don't have insurance i don't have to pay? >> otherwise 8 million people would be slapped with that penalty and it is a hefty penalty, the average taxpayer pays $995 in penalties if they

don't have obamacare. that is the average penalty. stuart: out is gone. >> as of next year nobody will have to pay it. the new tax law says the penalty as of 2019 so 8 million people would get clobbered with that penalty this year for not having obamacare comply except next year donald trump put in two new regulations that will cut the $8 million in half, 4 million people from getting clobbered with that penalty. stuart: what we really want to talk to you about. i don't care about obamacare. i'm interested in governor cuomo, democrat, running for reelection faced with an opponent in the primary, cynthia nixon, an actress, she is way out there on the left, she is calling for new york to become a sanctuary state. >> calling for outline all private health insurance in the

state even if you are in a union and get a cadillac type plan or coverage on your job it will be outlawed. let me make it clear that this challenge to governor cuomo may make the election in november such a squeaker the republican wins the gubernatorial race. she is challenging cuomo and the democratic line but there are three lines on the ballot where left-wing people vote, the working families party, the green party and the democratic party. very likely she will get the working party going and the republicans squeaked in. >> you think is a republican possibility for governor of new york state? >> i saw it once before. stuart: i won't say how many years ago but california, new york - >> we need the relief, it is

hell for anyone who pays taxes and just earns a decent living, the highest taxed states and we lose more people each year and anyone who can leave does leave. stuart: you are not. you are all right. back to that market up 500, a couple individual stocks, boeing, that is america's biggest exporter. when things loosen up between america and china on trade, the stock goes up 334, boeing is a dow stock so it helps that near 500 rally. caterpillar same exact story, a big exporter, taken together, they had 100 points to the dow

industrials. and $500 million. and the performance. the justice department will allow buyer to buy monsanto, $62 billion deal. amazon ads whole foods in los angeles the prime delivery service. and los angeles is out there and amazon is up 19 points. democrats sen. in california and visiting a new bill that would force online publishers to use the state sanctioned fact checker to approve content before it can be posted. sound like a ban on free speech. the judge will deal with it later on the show. a few hours, zuckerberg on capitol hill about the facebook data scandal. we are joined by outspoken sen. john kennedy, a soundbite

machine, he is on the show, zuckerberg will be testifying in front of his committee. one of the largest mechanical contracting, the ceo says donald trump's tariffs could be terrific, great opportunity for his company. we are up and running. ♪

stuart: i didn't know this but the us was hit by eight earthquakes in one day. often happened yesterday. the strongest was 4.3 magnitude in oklahoma. no reports of damage or injuries. smaller quakes in alaska, nebraska, texas in three in california. who knew?

our next guest runs a large contracting company, one of the biggest in the country and he says donald trump's tariffs could be a great opportunity for his company. joining us is charlie bacon, ceo of limbaugh holdings. as i understand it the threat of tariffs on steel and aluminum created rising prices for steel and aluminum. a lot of that stuff in your building project, how come this is an opportunity? >> when you look at the price increases it is more supply and demand, the construction industry is booming. all the sectors. when you opportunity for

us, projects that are coming in, what it is going to cost, you budget accordingly when you finance it but if budgets go out of whack you have to get back into budget and our company, famous for looking at heating and electrical systems and plumbing which cost 20552255250% of the cost of the building and we save 5% to 30%. it gives us the opportunity to come in. stuart: you are good at that particular area. that is the opportunity. >> structural steel goes up, look at the mechanical electrical systems and figure out a way to reengineer it, create innovative solutions and reduce the cost. stuart: that is a good commercial for your company which is publicly traded.

you can't say that on television, stop it. i want to know about this boom in construction. i concede in new york city, there are cranes everywhere. everywhere i go construct, is a real boom? >> look at the midterm where we are going, there are two key indexes. and the dodge momentum index, 6% increase in one month of activity so it is tremendous opportunity for contractors, for actual construction to take place. looking at a hospital, it takes 18 to 30 months to build, if it comes out in a year say 2019, that means steady activity through 2021. for the midterm the industry is in good shape. stuart: we have a contractor on this program, a contractor in

the new york area, had to pay crane operators have $1 million a year, they have to be qualified, certified, all that stuff, half $1 million from a crane operator, is that about right? >> by higher pipers, and -- stuart: how much can a pipefitter get in this economy? >> they can do quite well. stuart: $100,000 a year. >> a similar scale. stuart: if you are skilled tradesperson in the construction industry you can do 6 figures. >> correct. >> most major cities. the standpoint of what is going on such a skill shortage. i do several things. the first one is a mentorship

program. stuart: why did you increase immigration? why don't we? i am out of time, terribly sorry. you are all right. thanks for joining us. a couple markets to go through, bit coin just struggled back up $40, $6800, where's gold today? 1341 to be precise. next case, attorney loretta lynch, atty. gen. under pres. obama breaks her silence for the first time since leaving office, she suggests james comey lied underwrote while testifying on the hillary clinton email probe. the judge on that coming up. this is a bone fossil in saudi

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stuart: the richest the code in america to be found in florida. on fisher island the average income is 21/$2 million just off the coast of miami, you could only get there by ferrier water tax, in atherton, average income $1.2 million. the discovery of that bone fossil could rewrite the story of human migration. scientists say a human fingerboard 88,000 years old discovered in saudi arabia, if confirmed the bone would be the first and earliest human fossil found outside africa. scientists say this shows modern humans were out of africa much earlier than

previously thought. astronomers release new images from one of our closest galactic neighbors, the small magellanic cloud, a dwarf galaxy 200,000 ly from earth. the images show an isolated neutron star which is normally hard to spot because they only emit x-rays or at x-ray wavelengths. a self-described texas patriot detonated 76 pounds of explosives, big cloud of red, white and blue. chris white hit the amount of explosives from 400 yards away, under the explosives, 300 pounds of red, white and blue chalk, 776 ping-pong balls. the mother country as in britain. the national guard in arizona preparing to support donald trump's border security

mission. the big story today, zuckerberg testifies on the hill. sen. john kennedy joins us. zuckerberg will be testifying in front of his committee. we will be back.

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stuart; nice rally and is holding 29 of the dow 30 on the upside. only wal-mart is down. a few hours from now, mark zuckerberg testified on the hill and look who's with us now. senator john kennedy, republican from louisiana, member of the senate judiciary committee and senator, you will be asking questions today. is that correct? >> that is correct. i'm delighted mr. zuckerberg has accepted our invitation. i come in peace. i do one have to regulate facebook. stuart, we've got a problem. we have discovered that, how can i i say this, there is some impurities in the facebook punch bowl. one of them has to do with our privacy. you know, i think it is well that i can go on facebook and see what some of my high school buddies have for dinner last night. but i don't think it's a fair exchange for me to get facebook

all of my data and then end up in the hands of half the people in the western hemisphere. stuart; what would you like to see? what form of regulation would make john kennedy happy? >> governing or three word, mr. zuckerberg. i'm on it. i understand the problem coming here is how i will fix it in on fix it amounted back in six months to show you how i fixed it. we can start with the user agreement. needs to be written in english. people need to understand what they are agreed to if they go on facebook. i think facebook clearly needs to put in some guard rails on our data. i think facebook should give people the opportunity to know what data facebook has on them. i think people should be allowed to erase that data if they want to. and what i call the propaganda issue, we all know that poison is being spread on the internet. it is a violation of federal law for a foreign agent to go on

facebook and tried to influence our election. now, facebook is allowed that. how are they going to stop it? sure into if you did all the things you're talking about come you a significantly restrict the profitability of facebook and that would affect its stock price and that would affect his whole operation. >> not necessarily. i don't agree with that. i think number one, facebook stop price is down right now because i think some americans and some people in the world have lost confidence in them. i think facebook can get that confidence back. but mr. zuckerberg, no disrespect, but for the past year he hasn't exactly exhausted himself being forthcoming. i mean, we had one hearing on this and he sent and coming up, $1200 an hour lawyers and their $4000 suits and they were bright and articulate and they didn't say a thing.

stuart; i knew that was coming. sir, i knew that was coming. how many people do you think really want fundamental change? let me explain that. i think if you said to facebook users worldwide, you want to stay as you are, no changes, just keep the ball rolling as they, i think 90, maybe 95% would say okay, leave it as is. what would you say? >> i don't know the percentage, but i think the majority were then that's okay. a lot of people don't care. but there are more and more people who do care. facebook should bring us together. you know, in some respects it has. there's some wonderful things about facebook, that they are some corrosive effects. for example, i don't like it that when i go on facebook, and they show me stuff they think all agree with. i like to test my assumptions against the critics of others.

i like to see other points of view. stuart: that's why we always like you on the program, sir. also coming you're a soundbite machine. all good stuff, sir. smile for me. >> i am smiling in my heart. stuart: good line, sir. senator john kennedy, republican in louisiana. thank you. stay with fox business for full coverage of zuckerberg's testimony on the hill starting at 2:00 p.m. eastern this afternoon. we brought you this headline yesterday. newt gingrich says california may elect a republican governor incredible as that sounds good joining us now is california congressional candidate sean flynn. sir, i am sorry we had to cut you off yesterday just as you were getting rolling. the president's tape came in from the cabinet meeting that we just had to go to that. so welcome back, sir. good to have you with us. >> thank you so much.

if i'm going to get bugged by anyone, the president will make me feel good. stuart: good stuff. newt gingrich did think it's possible california would get a win, a republican win on a statewide election. now, most of the people on this program were completely discounting that anything is out of the question. what say you? >> you know, we have a top primary system in california and i really believe 100% of my heart if we can get a republican in the top two we will win in november because the democratic candidate will be gavin newsom a former mayor of san francisco who epitomizes everything wrong with this state against the city used to run the used to running samba sisko if you visit their now commander people openly shooting of drugs from the massive homelessness crisis. people can afford on a middle income to buy a house there. as people dedicated ministry. statewide, with the democrat party is up after 40 years of ruinous place we have the highest poverty rate in the country. we've got the 47 were schools, the highest welfare caseload. you can go on and on.

jobs and businesses leaving the state. and so, if we can get a republican into that top two system there, i am almost certain to win in november. stuart: now you are running against an incumbent democratic thing. what is your primary line of attack? >> well, his voting record is completely inconsistent with the value of the people in her district. our district is where we are hurting. we've got an appointment that is twice the national average. we've got school systems performing very poorly. this is someone who hasn't done anything to create jobs, help the local schools create infrastructure. stuart: i take at his position, your opponent, democrat from his position as california is and should remain a sanctuary state. how does that go down in your

constituency? >> with my constituency very poorly. people understand that it's actually a public safety issue, not an immigration issue. the only thing the law did was make it so i local sheriffs and police chiefs could not contact homeland security when they are releasing a convicted criminal or someone that's been arrested for serious crimes until then this guy is getting out at 2:00 p.m. tomorrow, would you like to pick them up? that is all that law did. basically it now makes it a criminal act for any of our local law enforcement to call homeland security and tell them there's a criminal here, would you like to deport them? sure into you wrote the book economics for dummies. is that correct? >> yes, sir. stuart: what are you doing getting into politics? >> for one thing i figured sales in washington would be very good for that. there's two big issues that are goofed up at the federal level. one is the student loan debt crisis. i have many former students who are hundreds of thousands of

dollars in debt. in many cases, parents, grandparents and find the loans, a multigenerational problem and he kissed her businesses, cancer families come cancer families, can't buy a house. killing an entire generation. i called in debt slaves. the other thing massively goofed up would be the largest easiest public-policy fix with millions of middle-class jobs is switching to a much more market based health care system and know what is implementable nationwide. wish the ending 75% in delivering much better care. stuart: sean flynn, thank you for joining us. you got the full interview today. no cutting you off. thank you very much. >> thank you so much, stuart. arizona getting ready to head to the border. william la jeunesse joins us now from phoenix. the texas national guard, governor ad that says they going to be armed. will troops be armed as well?

reporter: stuart, my experiences if they need to be, they will. in the 2006 deployment, i saw that there was one or two people guarding those who are doing work on the border with guns. in the texas situation they said they would do it for defensive purposes only. as we learned here today, the were deployment does not mean arrival. there's a lot of moving parts. they could be going to the border. they are still processing. there's medical checkups to do. of course where they're going to live? how are they going to eat? you have to match their skill set and that will determine where they go. all of that is happening right now. what are they going to do? number one, we know they're not supposed to be arresting people are seizing drugs. some could be armed, most will not. we're talking 350 from arizona. 250 from new mexico. you've got helicopters and

drones and illegals coming in. blackhawks will allow them to drop agents. right now, the border virtual sometimes has to wait days for these guys to get to the road and arrest the mayor. secondly, keep the fleet running. keep the roads improved and maintained. it is important because apprehending requires speed. so when you've got to detect an entry by a sensor camera, you need to get the vehicles there as quickly as you can. that means good roads. finally, a lot of cameras, a lot of radar and they'll need to use the video feeds and mrs. to where they need to be as quickly as possible. maybe 18 months that will mean they have some other safety to pitch in as well. stuart: william la jeunesse, that was a quick renter of the logistics get an operation going

on the border. well done, young man. we will see later. we've got this for you. a company in china is now the world's most valuable artificial intelligence startup called since time. it develops facial recognition technology that can accurately spot people using cameras. the company is estimated to be worth 4.5 billion. some of its biggest investors include alibaba and thunder. >> privacy issues. more news aired of arizona. they cannot give in-state tuition to dreamers. details on that in a moment. loretta lynch suggests james comey lied under oath while testifying on the hillary clinton e-mail probe. that is a bombshell. the judge will deal with it after this. ♪

>> i am nicole petallides. apple has now powered 100%. this is the goal that has accompanied very proud of this one. a major vic dury today as the dow jones industrial average has 518 points as so many of the fortune 500 companies move towards renewable energy.

[inaudible] renewable energy to see biomass, wood, wind, solar. these are the things people were using to generate electricity as well. in the meantime, there are portions of apple that are not 100% -- [inaudible] of bias in the workplace. really... never heard of it. the question is... who's going to fix all of this? an actor? probably not. but you know who can solve it? business. because solving big problems is what business does best. so let's take on the wage gap, the opportunity gap, the achievement gap. whatever the problem, business can help. and i know who can help them do it.

my secret visitors. hallucinations and delusions. the unknown parts of living with parkinson's. what plots they unfold, but only in my mind. over 50% of people with parkinson's will experience hallucinations or delusions during the course of their disease. if your loved one is experiencing these symptoms, talk to your parkinson's specialist. there are treatment options that can help. my visitors should be the ones i want to see.

stuart: you're going to hear a lot about a lot about dispute in arizona the state supreme court ruled colleges can i give in-state tuition as low rates to dreamers. 2000 dreamers attend college there and pay in-state rates. the ruling means they'll have to pay much more to attend these, possibly three times as much as they're paid already. the rather lynch come attorney general under president obama breaking her silence for the first time since leaving office. she suggests james comey may have lied under oath while testifying on the hillary clinton e-mail probe. here is what comey said back in june. roll tape. >> yes, in an ultimately conclusive way, that's the thing that i had to do something separately to protect the credibility of the investigation but both the fbi and the justice department. >> were there other things that

contributed to that that you can describe in an open session? >> the only consideration i can talk about in an open setting is at one point the attorney general directed me not to call it an investigation, but instead to call it a matter which confused me and concerned me. stuart: now here is what lester -- what lynch told lester holt about saying she was concerned when she asked him to call the investigation. roll that tape. >> he wants about the clinton matter. he wants to call it the quick investigation. did he go to you and question your credibility with regard to the clinton case? >> you as a medium like any other rehabbed where we talked about the issues. with a full and open discussion about it and concerns were not raised. stuart: lynch also defended her tarmac meeting with bill clinton, describing it as a casual conversation. all rights, judge napolitano is here.

it seems to me the credibility of the rather lynch and james comey is that date. >> called into question by each other. we're going to see a lot of that in the coming weeks. not because of mrs. lynch, but because of jim comey spoke. we are going to be getting huge publicity and it will be on everywhere. on fox, everywhere. look, her behavior in some respects was reprehensible. it was given that she told them to call it a matter. i know that to be so because i know of fbi agents who taunted them, gently, because he's their boss and you're not the of the fbi and they're the director of the federal bureau of matters. we all know this happened in a serious way. she claims he was preserving hillary clinton's innocent and she's innocent until proven guilty, but not calling it a criminal investigation. we do criminal investigations and redo national security. that's all the fbi does. >> they are undermining each

other. >> i'm not so sure it that serious. it shows a willingness on the part of the attorney general of the united states to protect hillary clinton's political chances and undermine the criminal investigation. i could give you a dozen reasons why the criminal investigation was doomed to fail, all of which are caused by mrs. lynch or people under her the doctor is to do it. stuart: this is a good one. they are all good. democrat state senator in california, richard tan has introduced a new bill that would force online publishers to use state sanctions, fact checkers to approve any content before it can be posted. that is a limit on free speech. >> in sacramento, the whole purpose of the first amendment presumes individuals will decide what is true and what is false and what they will listen to them that they won't listen to

come listen to, free from interference by the government. i would hope and you and i disagreed on this. the first federal judge look at this because when governor brownstein said dan, will present its enforcement. stuart: nonsense. it's california. maybe california will have succeeded from the united -- stuart: i mean, could this thing really go forward? >> this is censorship, the likes of which i haven't seen in law since very, very attentive delegates during world war ii where the government had a speech at todd was dangerous to national security. if you learned were your brother was in germany and he repeated it even that was free speech.

>> every time i saw something in history with bedtime. big story of the day it's going to be on the hill. our next guest says not so fast. facebook is not the only company selling your data. more "varney" after this.

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stuart: testifying on the hill this afternoon in our next guest says facebook is not alone in making money of personal information. all kinds of companies are doing it. founder of red tiger security is with us. i can understand how amazon, twitter, big names and retailers i got back here to also cannot deny information and using it? >> if you allow facebook and these other apps to log in as an authenticator for other apps, they can mine data not only from the app that you have, but the others are good to. when you pair can set your watch to your phone, and now i can go

many different places and it's pretty shocking. turning to the bottom line is we do not own our own personal information. we can't own it because we fester up every time i log on to something. >> ray. most of us agree that data that i voluntarily put into a nap, i can understand the company would like to use it or advertising revenue. but when the company starts to extend the data beyond themselves third-party rlogin to robson then you're pushing upon privacy breaches and also a breach of trust. another problem we have is a lot of these large companies don't make it easy for the average user to change their security settings or even understand security settings on their bomb. he think the average facebook user knows how to find the

security settings and note the certificates are? the stuart: no way. on the other hand, it's extremely difficult to stop up and if you did you take an enormous amount of profitability out of social network. >> absolutely. the individual user empowers himself to understand the risks they are taking by using the fast and educate themselves under that these properly. there's a little bit of ownership on facebook and google stuart: let me interrupt you. let me interrupt you. there is no way on gods green earth the average person is going to educate themselves on how to get into the security settings. there's no way you're going to get that ever, ever. >> ray. i know that in understand not.

when they update themselves, all the settings change anyway. stuart: jonathan, amount of time, but i wanted thank you for pointing out to what many people is the obvious. we are up at creek without a paddle. it's a very difficult situation. we will be watching today in again tomorrow morning to see if any and concrete or positive shows that. jonathan pollet, red tiger security, thank you. stuart: do you go into the security settings? >> i tried to. i couldn't do it. stuart: all the coverage of mark zuckerberg's testimony at 2:00 p.m. today. ♪ copd makes it hard to breathe. so to breathe better, i go with anoro. ♪go your own way

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stuart: we're 2 1/2 hours into the trading session. i think i'm right in saying ash

and liz, this rally has not faded. ashley: no. stuart: straight up and staying there. we're up almost 500 points. 462 to be precise. neil cavuto, it's yours. neil: stuart, thank you very, very, very much we're following on what is happening on to called tariff response. as you've been indicating on your fine show built on expectation that the chinese will make key concession. we don't know what those concessions might be. there are vague references to easing up on some of the tariffs or taxes that the chinese placed on u.s. and foreign automobiles in their country but no exact detailing of that or what that could mean for example, for us, or whether he will follow up on that. xi xinping, the chinese leader. we're following mark zuckerberg who is little over an hour away from testifying from lawmakers on on capitol hill. markets are soaring on optimism that this will work out fine.