>> i am. i think it's wildly mispriced and what you're seeing is canary in the coal mine. stocks follow. dagen: it didn't before the 2008 financial cloud. maria: that's true, over to stuart we go, varney&company begins now. stuart: for the first time in 18 years the jobless rate has dropped below 4%, 3.9% is your overall number now. black unemployment lowest ever, 6.6%. now the big picture, 164,000 new jobs created, that is not robust. and wage growth came in at a plus 2.6% over the last year, again, not robust. front number two, small business job's report, the story there is a shortage of workers to fill the record-number of job

openings, the independent business association says employers continue to create jobs and are raising wages. and then there's the layoff rate that is close to a 40-year low. add it all up and the trump economy is close to being a full employment economy. next, trade, in china negotiators have held initial meetings, there's been a vague announce meant saying open dialogue has been maintained, treasury secretary mnuchin said they've held good conversations, no breakthrough reported thus far. the friday edition of varney & company is about to begin. ♪ ♪ stuart: well, look at this, that's hawaii's killer whale

volcano. ashley: they are going door to door saying, you have to get out. scientists have been warning about it. 17 plus earthquakes in 24-hour period leading up to eruption. if you look at amazing photographs at the hot molten lava, yes, there are structures in the way, i have seen pictures of the molten lava on road. this is the most active volcano in the world, there's the reason why, 15,000 people out of homes and could be more. stuart: killer whale was a tourist destination. ashley: yes, it was it was. not today. stuart: good video. ashley: fascinating. stuart: let's get to your money right off here, check futures, please. where are we? we will be down about 70-odd points, right after job's report we were down 110.

now we are down about 70. greg is with us, he's with horizon investments. first of all, greg, i think this is a full-employment economy, what say you? >> a couple of things, stuart, i agree with you. i think donald trump really needed a victory after the week he's had so he can say unemployment is 3.9. that's a hell of a number. this maybe reduces a chance of third rate hike this year, we get one in june for sure, maybe one rate hike in the second half, that should be a good story for stocks. stuart: i'm prepared to say that this was disappointing report -- >> yeah. stuart: look, i'm vigorous supporter of the trump growth plan but i don't think this quite makes it, how about you? >> i agree, it was mediocre, one angle that people aren't talking about as much as we should. i travel all around the country and when i talk to business leaders they are having hard

time finding workers who can pass drug test. stuart: that was in in national federation business organization, they are saying, look, we want to hire more people but we can't find qualified hires and i think that involves the drug-test problem getting universal now days, that's not going to change, is it? >> no, it's not. i would argue that the president's desire to curve legal immigration is unwise, we need more legal immigrants because we have run out of available labor. stuart: you need more legal immigrants, yes, sir, oh, my goodness, greg, you are so right, young man. [laughter] stuart: greg, thanks for joining us, sir. wait a minute, you're coming back in a second. let me segue to china. we will bring you back. our trade delegation, they want the trade deficit cut by $200 billion. okay, connell mcshane is there,

tell me, connell, what progress has been made so far? >> not much that we know, stuart, i have to tell you right off front. basically what happened two days of talks held here, the chinese came out in state-run news agencies and said that big differences remain in place between the two sides, the u.s. delegation said nothing. they flew out of here without putting statement out. we are still waiting for that. maybe when they get back to washington, maybe mid flight, we don't know. there was a document that the u.s. presented to the chinese before the talks began, that's where you get the 200 billion-dollar number and had bunch of demands or requests, reduce the trade deficit by the year 2020, address intellectual property rights, stop providing subsidies that they think are market disrupting, just part of china made in 2025 program, i was speaking to a source that's fairly close to chinese governments thinking on all of this and he told me after the

u.s. delegation left that some of the large demands were unacceptable to chinese. as for china, they came in from what we understand willing to lower tariffs possibly on u.s. cars but not willing to give ground on some of the bigger projects. that's where we are. we are still waiting for a statement. this was kind of a team arrival and so far they haven't put statement out on things. stuart: let me get back to greg, i don't expect a clear winner in the china trade talks, compromise that let's both sides smile is probably much more likely, what say you? >> exactly, in fact, we could make the analogy to unemployment report, not a disaster, slightly disappointing. i think it's now clear that u.s.-china trade talks will have to take many, many months before we get any kind of a deal. stuart: got it. greg varleir.

he's on the left, he's won a nobel prize and his name is paul, he's not missing words, he's slamming the gop tax plan. roll tape. >> there's enough data already under the bridge for us to say that this is not playing out according to story, this doesn't look like the story, this looks like the taxes are a nothing burger as far as i'm concerned. stuart: nothing burger. do you agree with that, a nothing burger? >> i hate to have to agree with paul. >> no, you don't, you love the guy. >> i don't love him, i think he represents everything that's wrong with the democrats, but growth is down in the first quarter, 2.3. consumer spending is down to 1%, we saudis appointing job's report, we are getting lots of corporate buybacks, shares

repurchasing, i don't see this helping middle america and, stuart, the polls for midterms bear me out on the congressional side. stuart: i'm sorry, i disagree. the trump growth agenda of tax cuts and deregulation has almost doubled the rate of growth in our economy. okay, the first quarter disappointing but overall we have 3% growth and it's going up from there later this year. you have a virtually fully employed economy and employers are trying to find talent for the jobs that they have available. i call that progress and i call it directly the result of trump's growth agenda. >> well, if you ask people in polls they disagree and when you look at the fact that the labor participation rate is the main reason why unemployment went under 4%, you get mixed picture. stuart: black unemployment rate lower -- >> that's terrific. stuart: has nothing to do with tax cuts? >> i think it's been trending down for a long time. look, i'm not sitting here saying the tax cuts are

unabashed negative but they haven't delivered what the president said they would and the impact will be felt in november. stuart: wait a second. the tax cuts went into effect, what, january of this year, and everybody got a pay increase in -- by february, i think it was, february, now that's the trump growth agenda, that is having an effect even though it's only been in place for a few months, a little hard to judge it negatively already, isn't it? >> well, the evidence as i see suggests that it hasn't had the benefits that trump himself said it would have and, indeed, you have the don deductibility of state and local taxes which drove me to florida yet again this week which is going to hurt the gop in new york, new jersey, connecticut, california, so stuart, i'm a little bit more agnostic. [laughter] stuart: okay, i do want you to bring me up to speed on exodus

from new york, you spend a lot of time in florida. >> yeah, here is what i have to tell you. stuart: are you a resident of florida? >> i'm a resident of new york heading to florida and, stuart, low taxes plus sun make a happy person and i think a happy country. so i invite you down there and i really wish we could do the show from the miami bureau, they've been asking for you. stuart: naples, please. >> happy to go. stuart: we will get you get off with a lot of the negatives there. thanks for joining us, sir. how about two developments on tesla this morning, first off, elon musk, he's going on early morning tweet storm, he's trying to explain what is described as his bizarre behavior on the conference call the other day, secondly, we are learning that busch just ordered 800 hydrogen powered trucks, no t -- from tesla but competitor.

hawaii, how about this? making move to ban sunscreen, chemicals found in popular sunscreens are killing coral. the professional wrestler with wwe builds as monstrous obamination, well, he could be the next mayor of tennessee, known in the ring as cane, he's on the show next move and automy adjusting to help you stay effortlessly comfortable. i can also help with this. does your bed do that? oh... i don't actually talk. though i'm smart enough to. i'm the new sleep number 360 smart bed. let's meet at a sleep number store.

and i recently had hi, ia heart attack. it changed my life. but i'm a survivor. after my heart attack, my doctor prescribed brilinta. it's for people who have been hospitalized for a heart attack. brilinta is taken with a low-dose aspirin. no more than 100 milligrams as it affects how well brilinta works. brilinta helps keep platelets from sticking together and forming a clot. in a clinical study, brilinta worked better than plavix. brilinta reduced the chance of having another heart attack... ...or dying from one. don't stop taking brilinta without talking to your doctor, since stopping it too soon increases your risk of clots in your stent, heart attack, stroke, and even death. brilinta may cause bruising or bleeding more easily, or serious, sometimes fatal bleeding. don't take brilinta if you have bleeding, like stomach ulcers, a history of bleeding in the brain, or severe liver problems. slow heart rhythm has been reported.

tell your doctor about bleeding new or unexpected shortness of breath any planned surgery, and all medicines you take. if you recently had a heart attack, ask your doctor if brilinta is right for you. my heart is worth brilinta. if you can't afford your medication, astrazeneca may be able to help. stuart: politics is taking a strange twist. look at this, professional wrestler glen jacobs won the republican nomination for knox county mayor in tennessee, wrestles under the name cane with the wwe and guess what, he joins us right now, glen, welcome to the program. >> thank you for having me on, appreciate it. stuart: do you think that's a

good fit, professional wrestling and politics? >> well, it's funny because people talk about professional wrestling, dewayne the rock johnson and so, in fact, wrestling is something that my job, it's something i do it on tv very well but i'm more than that and, you know, my character on tv is pretty mean but my mom thinks i'm a teddy bear. stuart: are you a trump guy? >> yes, to some extent. i think he's done a good job with the economy. i also think that the trump effect is in full force all across the country in every level of the government and i think that really helped me secure the nomination for mayor of knox, tennessee. people are sick and tired of careered politicians.

stuart: as you know firm bernstein announced they are moving to tennessee because of low taxes. is knox county expecting an exodus of people from high-taxed new jersey or new york? >> i think we are seeing that all across the southeast. you know, this goes to prove that small government and low taxes work, they work for economic growth. our challenge here in knox county is to make sure with are able to take advantage of the movement and some of the companies to knox county, we sure would like to have you. stuart: by the way, glen, i have sitting next to me your former tag team partner, i think in the ring jbl, do you think he will make a decent mayor? >> glen is the one person that would go to politics, the only problem is he's too smart and honest to be a politician. [laughter] >> i thought he would never have a chance.

yes, he's going to be phenomenal. tag team in germany back in '94. the tag team and glen has done a phenomenal job. he's the type of guy that you want to go into politics. stuart: what do you think of jbl, glen? >> well, he's one of the smartest guys i have ever met. when we talked about the economy and financial matters, john was the go-to guy, pretty sharp dude. stuart: do i find it interesting that you have gone from wrestling to politics, layfield from wresttology money management and investment adviser. i wouldn't have thought either of you would go in that direction but you did. >> we were wrest until old carnival. [laughter] >> you know, i never have a picture where i'm on the offense. i actually won a couple matches, not many but a few. stuart: cane, reputation was bad

guy in the ring. you are the republican candidate for mayor, aren't you? >> yes, i am. here is the thing about local races and what makes them a lot of fun and really an exceptional experience is the fact that you get out to actually really meet people, knock on doors and that's how we won the campaign, we knocked on 50,000 doors in knox county. people get to know you as a person and personal interaction, you know, in that regard the -- i think the people that are wrestling fans think it's really cool and everybody else who got to meet me and know, he's just another guy. stuart: okay, you're not just another guy on the program, you, sir, are cane. [laughter] >> good to see you, glen. stuart: glen, thanks for being with us. >> and john and i are proof that anything is possible. [laughter] stuart: good last line there, very good. check futures, we will be down about 70-odd points, that's

about it. not a huge drop friday morning. the controller is to blame for air bnb rentals. we will have it for you after this. now i'm thinking...i'd like to retire early. let's talk about this when we meet next week. edward jones came to manage a trillion dollars in assets under care by focusing our mind on whatever's on yours. ♪ with expedia you could book a flight, hotel, car and activity all in one place. ♪

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stuart: have a look at google, i don't think the story will affect share price, here it is, it's not going to require verification for anyone who wants to purchase election ads. they are building a searchable library for campaign ads. i think that trying to increase transparency, stock premarket down 4 bucks. hawaii, ban certain, i think, most sunscreens, why? ashley: any sunscreen that contains chemicals oxybezone, study show that these particular chemicals are damage marine life and especially the coral reefs. however, the bill has been pushed through legislature in hawaii but there's a big pushback because other say, the studies that you are using for this are questionable at best and even worse, you are going to have people start not putting

stuff on and exposure to skin cancer will go up. these are the two chemicals that are found basically in all of them, all of them, zinc oxide. that's okay. stuart: i should remember that one, thank you very much, indeed. people are buying buildings in new york city and converting the apartments into air bnb rentals essentially. do i have this right? >> essentially what people are doing, they're not living in the apartments, they are getting money off of rent essentially, this is a big problem that's costing new yorkers $660 million per year in additional rental fees, that was a study that was put through the city, most often people are just taking their apartments either sublending a room and sticking to air bnb, making 300 bucks just for one night and this is causing regular people that are looking for rent not to be able to find apartments because the supply is not there, instead they are being used for air bnb.

stuart: normally i don't favor much regulation but this seems to be they are getting around regulation. >> and tenants in the building, in a condo building you to deal with people coming in and out all of the time, people you don't know, not always the case but that's increasing the rent of new yorkers and this is according to study put by the city. ashley: this study is so many flawed so many levels they claim, don't blame us for affordability crisis, it was here long before we showed up. [laughter] stuart: all right, we will open the market in about 4 and a half minute's time and we will be down, we lost some ground just in the last few minutes. we will be double triple digits and the nasdaq will be down 43. we will take you to wall street for the opening bell after this.

>> now when this market opens one of the big factors in play today is that jobs report which we've received just about an hour ago. i think it was rather disappointing only 164,000 new jobs created. but the unemployment rate fell to 3.9%. first time in 18 years we've been below 4%. >> a little had nothing from these china talks which

opportunity bode well which i think will also be in the settlement for the market. >> we haven't had a statement out of the trade team we're with now on their way back to america not even a statement. not necessarily that much of a good news. here we go. bang it is 9:30 eastern time. and we're off, running and we're going to be down when we open got definitely going to be down. we're up 71 points right now. 68 i've got the vast majorities of the dow 30 on the donside they're in the red and we're down 81 points that's how we open this friday morning now we're down 93 that's about about .4%. the s&p 500 where's that broader market indicator and it is down about a quarter of one percent and nasdaq with all of those technology stocks that too is down about a third of one percent. we're down across the board. look at -- apple please right from the start in a down market. they're up $2 at 178. why? warren buffett bought 75 million a it will shares just in the first quarter of the year.

nice shot in the arm for apple look at tesla. ann highs per bush orders 800 semitrucks from one of the rivals not good news for tesla and number two elon musk is tweeting about that bizarre earnings call more tweets in a moment but stock has opened down. who is with me on a friday ?orng? i need help. ashley webster christina, and john leifield start with a until the first quarter of the year that's a big bet on technology. >> huge bet but his thesis is buy one tollbooth and newspaper in town. you have 270 million through apple through hbo or app or music service i think warren buffett sees that reoccurring revenue and bought it. >> what was it 270 million people give something apple once a month. >> and 1.3 billion active users about po 30 per phone. >> it is bidded up. berkshire hathaway is down --

>> earnings report and changed in 2011 he was completely against the company and now says if a consumer company not a technology company and which is why he's reap benefits of the buybacks. >> out of ibh. 90% of the shares back -- and look at tesla elon mufng tweeting about that -- that crazed earning, a quote for one with of them the reason that bernstein question about that was bone head was it had already been answered in the headline in the q1 newsletter he received before hand. take a breath. along with details in the body of the letter. i've never heard a ceo of a major company talk like that or tweet like that. >> combative -- but stupid question after a stupid question and elon musk the ghiet room and doesn't like take questions for those less smart than him and may be the truth but i think he hates -- >> i think it is arrogant and

also trying to attract people to your stock and you're the big e-head of this company. >> so -- it gives a really bad impression. >> won't answer analyst questions about money. >> he thinks it is short sellers so why speak when they're betting his company is going to fall and -- >> and that analyst was a short selling thesis was the reason he went after them. >> short sellers another reason are to short the stock with his behavior. >> exactly. that's what will lepped him money. he was -- going to need two billion soon -- and who will lend him moneysome a man who said recently he's not a businessman, and that even last year he said that share price i think is probably too high. interesting. >> i think he gets it and anybody else in the world doesn't get it. >> own the stock? >> i do own the stock. rt of a lithium etf i don't own it anymore and i would not buy tesla stock here way overvalued. >> okay. got it and then this anheuser-busch ordered 800

hydrotowers not from tesla but one of their rieferls not so much about this, but question is is this on the way hydrogen powered trucks. >> after test lat other day. where did you get the fuel? >> patent -- don't ask questions about that. we don't know the answer. a long way away isn't it? a long, long way away. thank you. [laughter] both companies named after great nikola and tesla. >> i didn't know that. >> that's right. learn something every day. check that big board we're down 120 points on u dow that takes us become to 238. look at blue apron, they're going to start selling their meal kits through costco -- they're running out of growth and they need another outlet and within costco and stock is up not actually it is up -- what's that? i can't read that properly got

it. there you go rosy outlook from shape shack all you have to do is have a rosy forecast investors love it up 13% on shake shack. go pro sold more camera ares and they lost less money to stock virtually unchanged. a lot more money no go pro is actually up 2% at $5 and more money coming in at alibaba where's that stock, it is down. if a buck 35, got it. i want to talk about that jobs report -- and joining us now white house counsel of myc advisors chair kevin -- kevin, i -- i said publicly i think it's rather disappointing you only got 164,000 new jobs i know the rate came down below 4% but 164 new jobs is not what you wanted, is it? >> you know, you have to smooth through ups and downs in numbers right now we're on average at 200 thowx for the year which is significant up tick from last year and i think that's really the message in the jobs report and don't forget that --

the unemployment rate as you mentioned lowest since 2000. black unemployment rate which we've been talking about theest ever went down again and historic rate is lowest ever and for teen and females lowest since 2000 so there's a heck of a lot of good in this report. but you're right. this is issue number the 163 number that -- that absolutely was a little bit disappointing. >> make a forecast for us. next month from the month after -- going to be back on track for -- 200,000 and more new jobs each and every month? >> i know you're going to hold me accountable for this. months from now but absolutely. i think that 200,000 is about to raise it we think we're seeing right now, and that i think we should stop and note how miraculous that is. because we're very deep into this business cycle the longstest continuous job expansion on record and i think tax cuts came at just the right time. you know when trump was on the campaign trails, he very often was talking to very discouraged people who had been looking for a job and couldn't find it and

left the labor market. we went back with yesterday's reports and estimated that 9 900,000 people have reentered and found a job that's a pretty amazing and created 3 million a little more than 3.2 million jobs. but imagine 900,000 people that were out of the labor force have a job right now and you know that's the kind of news you're seeing in this it report. it is still a strong economy. and strong report. >> you want to to respond to crudeman he's saying that the tax cuts, the tax reform package are a nothing burger and didn't do what president trump said they would do? you want to respond to that? >> yeah, completely false we've already seen as we've talked about on this show a capital sending boom in fourth and first quarter and we've seen solid wage increases the eci for example employment cost endex up 1% over the last throw three months that's the high test since 2006. so we're getting wage growth and capital spending so no idea what he's talking about but that's usually the case. he really, really goes arpgd

making part disan points all of the time and i can't remember the last time i saw him make analysis of something like the tax cuts that made any sense. sorry for all of the noise they're mowing the lawn, landing helicopters. >> perfect timings. perfect times the interview is over, and we thank you very much. thank you great pleasure. thank you very much. >> everybody, with do you think you agree with my assessment disappointing in materials of the numbers but encouraging in terms of the rate below 4%? absolutely. yeah. he's right. the average has been 200,000 newly created jobs since the beginning of the year. that is impressive so that makes this number 163 disapowngting to say $164 don't get picky over it. going down already. all of a sudden. >> i think what's bigger about this mid-materials coming up republican party lost 35 of 38 times in the house during midterm so history says republicans are going to lose this time. i think the one chance they have is unemployment number because if it goes to 3.8 lowest in 50

years since lyndon johnson one thing to hang their hats on. >> one concern is labor participation rate and it went down ever so slightly this past month. but we have a tightening of the economy. that's the concern right now. i think -- >> all right goldman sachs, getting into the bit coin futures business. for their clients -- i think that gives some credibility to bitcoin doesn't it? >> a credible to bubble of our generation is what i believe. >> don't like bitcoin. >> i don't. but because i believe it's a bubble and reason i believe it is a bubble you can't regulate and if you can't regulate it you can't tax it and makes governments insolvent and makes feds central banks worthless because you can't krob ebb and flow of the money and no way governments allow to take off. seeing it banding everywhere i think you're going to continue to see a band and gives credibility to people to lose a lot of money. >> quickly i want to update something here. elon musk the tweet storm he say he was foolish dealing with probing tesla analysts. okay. he still trying to get the last word in right there.

it's that time job john i have to say good-bye to you back to bermuda soon. >> on tuesday, and a great weekend here in new york and we'll stay here. [laughter] okay. very hot thank you john, good stuff. check the big board come all the way back down 100 points and now we're down 50, 25,800. twitter, telling all 330 million users change your password a glitch may have exposed your personal information. more on that, of course, coming up. but first, the trade talk in china -- not even a statement from the white house team. no major break through reported yet. question will either side come out a clear winner -- i don't think there will. andy posner, next. hi, i'm bob harper,

and i recently had a heart attack. it changed my life. but i'm a survivor. after my heart attack, my doctor prescribed brilinta. it's for people who have been hospitalized for a heart attack. brilinta is taken with a low-dose aspirin. no more than 100 milligrams as it affects how well brilinta works. brilinta helps keep platelets from sticking together and forming a clot. in a clinical study, brilinta worked better than plavix. brilinta reduced the chance of having another heart attack... ...or dying from one. don't stop taking brilinta without talking to your doctor, since stopping it too soon increases your risk of clots in your stent, heart attack, stroke, and even death. brilinta may cause bruising or bleeding more easily, or serious, sometimes fatal bleeding. don't take brilinta if you have bleeding, like stomach ulcers,

a history of bleeding in the brain, or severe liver problems. slow heart rhythm has been reported. tell your doctor about bleeding new or unexpected shortness of breath any planned surgery, and all medicines you take. if you recently had a heart attack, ask your doctor if brilinta is right for you. my heart is worth brilinta. if you can't afford your medication, astrazeneca may be able to help. >> just to be clear, we have come back significantly. we were down 120 now we're down

50. all right wal-mart and amazon as you know they were duking out over flip cart in india. nicole who won? >> well, it's not finalized yet. so who won is a great question and we'll have it right here on varney and co once we have the real answer. e-commerce in india is a piewj fast grow market flip competes with amazon and according to source on bloomberg saying that 75% stake 15 billion dollars is not yet approved but it is wal-mart moving ahead in principle they have approved but they were tax concern and other issues now earlier in the week reports that a.m. disofntion looking at a 60% stake to the two billion or dollar breakup fee to really entice them and other reports that soft bank and google would also interested in investing but look like according to the latest report

that wal-mart may be the victor of flip cart who wins we'll see the final real deal. >> but it looks like wal-mart thank you very much indeed. check that big board this follows the april jobs report down what, 40 points that's it and andy is here author of the capitalist come back, all right, i say that we're pretty close to full employment what do you ?ai >> we have the fewest number of people unemployed this month since may of 2001, you've got fewer people on unemployment benefit in 40 plus years and we've got more people working this month so last couple of months we've set records for how many people are employed so you know at some point you're going to piepgd that you're near full employment. >> that's extraordinary. full employment to me is a very good place to be. i would have expected more to be made of this. i would have expected the market to be happier this. >> going through numbers one number that i would encourage

people to look at it is number of people who are working apartment, who were working pipe for economic reasons, and in other words they couldn't find a full-time job. there were a lot of those people during the recovery post recession recovery years it's now at the e lowest level since october of 2007 so it's now at a prerecession level so when you take people who have jobs they can be you know that aren't full-time jobs or jobs they don't want and move to full-time jobs or more employment, it doesn't -- it doesn't increase or decrease labor participation rate. they were employed they're still employed but you have people moving to better positions had is i think huge or for the 7.8% you mentioned. so okay. what about small business i got that report from the national federation of independent businesses. that was a pretty good gung ho report are small business is soaring says "the wall street journal." >> well they are surge and, in fact, you know, this is the interesting thing about this economy that i think people need to focus on. we used to do this show and we would interview about how people are dropping out of the labor force that couldn't find jobs

for years right. and now we're talking about the biggest problem that businesses are facing according to the nfib is finding employees to field good paying jobs that's turning economy on your head. >> promo for your book. isn't that good. clever i have to say by the way is dow awfully close to turning positive at the moment. maybe they're listening to what we have to say only down 20 points and down 120 a few minutes ago. i want to ask you about china. i don't think there's going to be any when all of this is done i don't think you can say china won or america won. i don't think you can say that. there's going to be a compromise which i think will try to allow both sides to smile. >> that's when you know you have a good deal when people walk with out of the room thinking they didn't win they probably both won that's the way it works in business and work with china but we went in like in a very, very negative position. you know, anything that happens is going to be an improvement for us and we're not going to be worse off than we were.

375 billion dollar trade deficit, i mean, how much worse could it get so we're gong to see progress for the yiet but i'm hoping that chinese aren't going to negotiate with us if they can't save paying face and maintain dignity so question of to make sure and i think sending all of these -- secretary of the treasury, and secretary commerce and peter, this was great. this was a real show of respect for the chiengdz and that's important to them. >> i think that a lot of people in the west don't understand -- that -- china publicly must not be humiliated. >> exactly. you do that, to jinping and he's out of power if he loses face you can't have that. you absolutely can't have that. that's why a compromise has to be worked out of some sort. >> we opened restaurants this china while i was head of cke restaurants that's something we kept in mind whoever we were the negotiating with a landlord, supplier we have to make sure their dignity was respect ared and able i to save face and i kw

they're smart enough to know this. gleert we'll wait because we have to wait for months -- >> nine months for nafta. you know, already. so i mean it will be -- these deals take a long time this is a big deal. stuart: the dow is almost positive what a guy. >> people working part-time for economicking reasons. and that's what they -- stuart: you've got it son if you hold on a second you might -- there you go. turn positive. thank you andy pozner america thanks this man look what he just did. [laughter] ♪ now -- look what you did it. now turn negative down 3. [laughter] all right thanks andy. >> thank you. stuart: into space for ten seconds all right now this. house republicans a group thereof nominating president trump for the noble peace price for his work with north korea. could he be the second president in a row to win? we're on it. we'll deal with it, after this.

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>> well we turn south again not too or far south. but we're down 27 point as we speak. right there at 23,900. precisely. a group of house republicans nominating president trump for the noble peace prize for his role in the north korean

negotiations. look who is here. and marie half now they have a new show on fox newsradio that launches monday. so we're going to promote that today. i'm going to start with you guy, about -- this peace prize for president trump, of course, she should get one. >> see how this all plays out i think that yes, if it plays out relatively well even he should be seriously considered and brought to the table he doesn't have to play at all the but brought into the table come on. >> maybe that's good enough for a nomination winning at least the bar for winning should be a little higher than that. but this is not an unserious conversation that we're having because even the president of south korea has put it on the table it is not just a group of republican back, but people on global stage including someone critical of this president and foreign policy are saying well, actually this is looking pretty promising. look if you want your radio show to be a success you have to pound the table and say give him that peace prize because he

deserve it is. >> avoid ponging. >> no it works every time. for me. now -- or done well. done well. >> marie half. your old boss president obama he got a peace prize right after he was lengted he got that prize because he wasn't george bush so surely you will say trump must get a peace prize at what he's done. j i think guy is right we'll with see how this plays out this is about north and south koreans all at heart and not all about us and hard for president trump to imagine. but i will give him credit for helping to get partyies to the table. it's not ab prize right let's calm down and see if the diplomacy can actually work. >> that won't work on radio. >> that won't work on radio -- right. >> you've going to take a straightforward, straightforward position right down the line you have to say -- no. >> i couldn't get it. so you should say no, i don't him to get the peace prize but i know perfectly well he will.

you should -- and a script -- yeah. i'll write the script. but we can do it again i'll say he's getting peace prize if not people who made that decision should be executed and you say -- wow. you say -- you didn't get the peace prize and should be impeached immediately. pound that table. now that's the ratings, the ratings are coming i can feel it. >> oh, they will. if you're on this program and i'm promoting you you're going to do right and right in saying you're the liberal side of things you're the conservative side of things. and you start on is it monday. every day 6 to 8 p.m. so you know, left versus right a new hannity and comb for millennial attack politics, policy, culture and sports because we're both big sports fans. >> oh. oh. glad you -- okay. you realize that you've got two guys here. that that will be ash and myself, who are fanatic in england. >> we like american football. so you can come on as our expert

on the premier league. >> at night you think -- >> you still think stew -- 6 p.m. is not that late. >> yes, it is i'm asleep at 6:30. dinner at 4:30 -- >> very successful. [laughter] that's good ladies and gentlemen we're out of time. but you can listen to these two monday, 6 to 8 p.m. on the fox newsradio. great stuff. thank you very much indeed guys. we'll be back after this.

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stuart: nbc made a big mistake yesterday. there anchor went on the a with a report that michael michael cohen had been wiretapped by the feds. it took four hours to correct that mistake, four hours in which they gleefully salivated on what his phone calls might

reveal about the pres. and the porn star. stormy seems to have taken over. as i sit in his studio i have a bank of monitors showing me cnn and msnbc, they have descended to the depths of prurient gossip. they are stormy daniels channels, progress with north korea, strong economy, historic low black unemployment not their purpose, it is all stormy all the time. the words so often used his liar. the pres. lied. they need to use that word because it is a lethal word. if they can catch him in a lie is surely an offense and sounds bad, doesn't it? i think the haters should step back a little and consider what they are doing. number one, they have drummed up the most hostile environment for any recent pres. and doing it at a time when donald trump is in the middle of high-stakes

negotiations with nuclear north korea. they don't care about america, they just want to trash america's president. number 2, what happens if the left tries to remove this president from office on the basis of a white lie about an alleged affair a decade ago before he ran for office? there will be hell to pay. impeachment, removal from office, that is a political move. you have to have the votes in congress and i don't think they got them. usa today uses a focus group of trump supporters, they check that group regularly. the latest findings, trump supporters think the president failed to tell the truth about stormy but they don't care. msnbc, cnn, the left think stormy is there asset. wrong. stormy coverage is their liability. america doesn't really care much for lawyers, legalisms or porn stars. the second hour of "varney and company" is about to begin. ♪

stuart: 30 minutes ago we were down 120, now we are down eight. look at apple, that stock moving up, nicely, $4 higher. there is news on apple, warren buffett bought 75 million shares of that stock in the first quarter of this year. that is a plus. apple has reached 180. shake shack came out with a rosy forecast and when you do that your stock tends to go up, 20% higher on shake shack. my take, cnn, msnbc are abscess with 4 stormy daniels. i don't think they know exactly what they are doing. fox news contributor tammy bruce. am i going overboard? >> it is not just you. i know a few people at cnn in particular who would know when it comes to the nature of what is happening on air and their

complaint is there's a lot of big news like correia and it is all about the porn star. even internally there is disturbance across some dynamics. it is a problem because cnn used to be a reputable entity. they represent for people what news is and they clearly are moving forward with obviously fake news, something that if it can be cleared up in four hours if you took a few more minutes to check someone else, it would have been clear. then abc picked it up, usa today picked it up, online, on blogs, big analysis of what this means, must be so big if they are wiretapping whereas it was a call log. something very basic that was being looked at. none of it was true. it is a shame this has happened to nbc. it carries throughout all these other networks and the news business is viewed and impact on the country. stuart: what happens if they

try to impeach the president, catch him in a white lie? it would be a white lie if it is about an alleged affair 12 years ago before -- catch him in a white lie and try to impeach them on the basis what happens? >> it is not going to happen because democrats will not be taking the house invented terms. i am quite sure. that is going to be fine but we have to look at the fact the world changing action the president has undertaken, saudi arabia recognizing israel, moving the embassy to jerusalem, north korea is dealing with real life in a certain way and don't dismiss the fact that china must be having some role in that because the president dealing with china, tariff, trade arguments, the one thing that could make an impact on north korea, the economy, the numbers today, the world is changing, america is blossoming and this is what the news media is

doing. they are going to be the ones who are impeaching themselves, they are going to be gone sooner rather than later. stuart: i'm watching msnbc now and that is what they are talking about. >> americans don't care. they care about something that is going to matter for their future and that nonsense isn't that. stuart: you are on tape saying that the democrats will not win back the house in november. >> that is correct. stuart: stick with that. >> i am sticking with it. it is about the economy which are you better off now than you were a few years ago. stuart: you got it in again. i want to move to the tax exodus. and high tax. states to low tax read states.

in this subject, i know him as a financial guy, the author of this book crisis of responsibility, the chair of the group, you have a house in newport beach and new york city. >> couldn't see it coming. >> the fact of the matter is a lot of money earned in california, northern california, the finance capital of the world, enjoyed being in both cases on april 15th. the reality is this is an unsustainable phenomena in. these blue states ironically say they support the middle class, the little guy, in california, it is getting there now. very high income earning, high net worth people who can afford it and surpassed the caring about the tax liability,

coastal and affluent, places like newport beach, monterey peninsula and people that don't pay taxes on the low end. the class is completely hollowed out in california. stuart: you are a bicoastal guy. where do you pay the most tax? where is your greatest tax liability? >> the top rate in california, the state basis 14.3%, has been since 2013 and was made permanent a couple years ago and in manhattan with city taxes it is 12.9. on the margin, anyone in either state is over 50%. stuart: if you are a 1% or in california or new york city, you're paying a rate of double-digit taxes, you cannot deduct state and local taxes. >> it is below 13-3.

and the largest unfunded liability with double digit state taxes. stuart: florida looks attractive, you are a market guy. this keeps going sideways. i don't see a clear trend, what do you buy? >> they have gotten particularly cheap and we highlighted a place where i love proctor and gamble, it is now down 20% where to me you have an opportunity, the yield is above 4%, over 60 years, more things to sort through. it is down 16 times earnings. it is 10% this year. a little over 4%. stuart: we expect to see you in

our house in naples very soon. our new set. working on it. let's get to facebook, they may have a double standard when it comes to privacy protection. explain this to be. ashley: a small group in facebook can access any user's information without using a password. they have complete maximum access for anybody's account. for those who work at facebook internally, if anyone accesses a facebook employee's account they are immediately alerted. we don't get that privilege, they do. the fact there are group of people, and other employees who can get into anybody's event, they had the security person fired because he was bragging about getting anybody's information. there is a double standard. facebook is aware of it and this is just another black eye

when it comes to our privacy. stuart: doesn't look pleased. >> the size and number of employees, you don't think they have access to all the information, a small group, i am skeptical, they know everything about us. stuart: you're a cynic, a skeptic. kylie jenner, making millions from instagram posts, how do you make millions from instagram posts. and across all boards, 20 years old, the youngest sibling of the jenner kardashian family, they value one of her instagram posts, equivalent to $1 million in ad revenue. if you spend $1 million that is the value of one of her instagram posts because she connects really well with her audience, knows what products they are looking for. and advertisement, a super bowl

commercial, $5 million, the comparison alone, 20 years old, a cosmetics company as well and it is worth $1 million. stuart: each instagram post is worth $1 million. >> and traditional ad revenue. maybe i should get it and my friends will have it and you get that number of followers, a small section of everybody buys it and there is your money. stuart: it strikes me there are ways these days of making a ton of money in a very untraditional way. just the other day we had news on this program of a 13-year-old who makes millions of dollars a year playing fortnight. >> i heard yesterday of

influences on twitter, paying thousands of dollars to reach out to them. >> they make a lot of money, film him, takes toys out-of-the-box and people find out and it is valuable. if you have acute pets at home you can make a and today's jobs report, it is coming in a few seconds, we are going to roll it and what he had to say. he made these statements. >> rudy is a great guy.

he has his heart into it, working hard at learning the subject matter. he knows it is a witchhunt, that is what he knows, seen a lot of the land he said he has never seen anything so horrible. as an example. 33,000 emails requested by congress with a subpoena, and give me a break. rudy knows it is a witchhunt, he started yesterday, get his facts straight. he is a great guy. what he does is feels it is a bad thing for our country. >> when did you find out? >> you are going to find out because we are going to give a full list and virtually

everything said has been said incorrectly and has been said wrong and has been covered wrong by the press just like nbc and abc yesterday covered the story wrong but you will be finding out. it is very simple. is actually very simple. there has been a lot of misinformation. people wanting to say and i say you know what? learn before you speak, it is a lot easier. >> north korea -- >> we are having substantive talks with north korea and a lot of things have happened with the hostages and you will see very good things. stay tuned, you will be seeing very good things. and the drift is being scheduled. we have a date and we have a location we will be announcing. >> have you changed your mind about sitting with robert

mueller? >> the problem with sitting is this. you have a group of investigators and they say that i am not a target and i'm not a target so if you have a group of investigators that are all democrats and in some cases they went to the hillary clinton celebration that turned out to be a funeral. you have all these investigators that are democrats. bob mueller worked for obama for eight years. look at the statements that were made. if you take a look as an example at the rod rosenstein letter to me prior to the firing of james comey just read it, your viewers don't know about it. put that letter on the air. it speaks very loudly and that is just one thing so i would say this. nobody wants to speak more than me. against my lawyers because most lawyers never speak on anything. i would love to speak because

we have done nothing wrong. there was no collusion with the russians, there was no -- very funny. if you fight back, they leak which they have been doing, if you fight back they say that is obstruction of justice. somebody says something wrong you fight back, they say that is obstruction of justice, it is nonsense. let me just tell you. i would love to speak. i would love to go. nothing i want to do more because we did nothing wrong. we ran a great campaign, we won easily, we won that easily, 30652 i think 223, we won easily, that was a great victory, that was a great day for this country, we just had new job numbers, we broke four, 3.9%. i would love to go, would love to speak but we need to be

treated fairly. i have to find that we are going to be treated fairly because everybody sees it now and it is up your witchhunt. right now it is up your witchhunt. why don't we have republicans looking also? why don't we have republicans, it is a very unfair thing. if i thought it was fair i would override my lawyers. i thought the jobs report was very good. the big thing to me, hasn't been done for a long time. hasn't been done in a long time. we are doing great. the stock market is up 35% since the election and they are waiting to see what is going to happen on trade because we will have some incredible trade deals announced. my people are coming back right

now from china, and we will be doing something one way or another with respect to what is happening in china and let me say this. i have great respect for president xi jinping. that is why we are being so nice and have a great relationship. and >> are you sure -- stuart: we are getting used to these things, and impromptu press conference as the pres. walks to get on his helicopter to exit the white house. what he said was the following, there is a time and date established for the summit with the north koreans. time and date has been established. than talking a lot about how he wants to go to speak to robert mueller. he must be treated fairly. he laid down that very strongly

and he said rudy is going to get his facts straight. tammy bruce, listen to that, you read a lot into that, rudy is going to get his facts straight. >> they have known each other for decades, he knows mueller. this is rudy giuliani being the loose cannon and donald trump is elevated above it all. than your opponents don't know what to expect. this is not somebody is out of control. there is a definite benefit to this kind of relationship. very comfortable in this speaking, made the points and rudy giuliani knows what he's doing and this will be a larger conversation and the president remains the stable genius and rudy giuliani is rudy giuliani. ashley: if he thought it was fair he would override the advice of his lawyers to talk

to bob mueller. they are saying to do it but he says if i thought it was fair, interesting. stuart: he also said incredible trade deals, the pres. is subject to hyperbole, often goes to extremes, incredible trade deals are going to be announced. >> i was thinking of the north korea summertime thing, very big news but thought how they would do it in california but the tax rate is too high. stuart: he went out of his way, and -- it is indeed. >> the time and date for the summit, the north korean summit. american defense international chair, time and place established. we are going to find out soon. ashley: probably the end of may. it can take place along the dmz. stuart: the president went out

of his way to praise premier xi jinping of china, give him full face, don't humiliate, don't insult because we need their support in the ongoing discussions with north korea. it is all wrapped together. >> the pres. is trying to pull off the deal of all deals. let me share with your viewers something big that will happen next week, the director of the world food program, recommended to the united nations by donald trump, former south carolina governor david beasley, in north korea next week. sources tell me half if not more of their time in the field, to assess the situation, hunger, you name it in north korea, they will come out of north korea, meet with chinese officials, meet with south korean officials and meet with japanese officials, this is a

big deal. it gives this president more ground troops, what is really going on, the untarnished version so he can make that deal of all deals and this is not a un bureaucrat but an administrator who has reform the world food program, and donald trump recommended to the un this is a big deal and not only the white house but north korean officials agree a few days ago. stuart: this is a big deal indeed. it seems to me one of the objectives of kim jung un is to stay in power and one way to stay in power is feed your people, give them the goodies. extrapolate this news that we

are going over there with a plan to feed north korea. >> we are going there to get the ground troops and feeding them. contributes to billion dollars to the roughly $7 billion budget of the world food program right now. and to negotiate this deal of all deals. stuart: this trip on the part of governor beasley, the world food program to pyongyang, it was pre-design, there was consultation with china, south korea, in advance of this and once they look around they don't just go to pyongyang and they come out again. everything was prearranged. and already set and was was interesting, senior leaders

agreed earlier this week for it to go through as we approach the summit. when they come out of north korea, my understanding to south korea and japan, and those countries contributed to the world food program as well. stuart: let me break in for a second. i want to condense this all. it seems to me we have a plan to feed north korea, to keep kim jung un in power after an agreement to denuclearize. emma going too far? >> 70% of the screen people suffer chronic malnutrition. we are spending $30 million a year in the world food program, 80% of children and schools, in the world food program. is it working? i the right mechanisms in place? can you do a better job.

and half if not more time, and this president needs to know all the parts. when he goes to the summit. stuart: interesting to say the least. thank you for joining us. any comments? >> obviously kim jung un hasn't missed a meal sometime. is that food going to the military. and the distribution -- stuart: we want it to go to the north korean military so they stay in power and feed the people, food as a weapon, stay in power. >> we have done this before before we had firm -- the clinton administration as well,

distributing food. and what their end was. stuart: look at the big board. i wonder if there was some impact what the pres. had to say. and you are back with more good stuff. into retirement... and a little nervous. but not so much about what market volatility may do to their retirement savings. that's because they have a shield annuity from brighthouse financial, which allows them to take advantage of growth opportunities in up markets, while maintaining a level of protection in down markets. so they can focus on new things like exotic snacks. talk with your advisor about shield annuities

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stuart: we let you hear more of this but we have some extraordinary news, not only did donald trump just address the cameras and he broke some

news, he left that part of the white house and as he was going from the helicopter to air force one he had some more to say, two items standout. negotiations for the release of the hostages are underway they are underway, negotiating their release. secondly withdrawing american troops from south korea is not on the table. we always thought that might be one of the bargaining chips but not on the table, stroll of our troops from south korea and if you saw the tape a few minutes ago, time and date have been established, and he said you can expect some incredible trade announcements. he is hyperbolic on frequent occasions but appears to be working on the market. the dow is up 135 points.

we were down 120, and the pres. was making those statements. it is funny, rock 'n roll, happening, happening, i just love this stuff, next case, tesla, ceo elon musk making headlines for that strange sounding earnings call, a tesla guy, a true believer. and after that strange call, is he the right guy to lead auto company at this point. >> that does beg the question about his temperament and that

the end of the day, it reminds me very much like steve jobs was, crazy visionaries need this. there should be better rails around it but the take away is this is one of the costs of having a leader that is a visionary, they are easily irritated. stuart: they are burning through cash, $6500 a minute or some external marymount. he is going to have to borrow more money in the immediate future, around $2 billion. who is going to lend him money with a backdrop like that earnings call? and difficulty producing the model 3. >> and the company is uniquely

positioned. and and when the model 3 get off, and once there are more model 3s out. this is a pivotal moment in automotive and people get behind that story. stuart: jean munster is a true believer and another is apple, you are a true believer there and warren buffett that big on apple, 75 million shares in the first quarter of this year. you are forecasting a 7% rise in apple stock this year or next year. >> the impact of the buyback, this has nothing to do with new products or increased multiple about excitement about the next phone. this is what the company could

do by taking that mass generated cut off and they can buyback $50 billion or $16 billion a year. the story on apple is going to change over the next year. this is going to go away because the iphone is more stable. and very different from other stocks. and awarded in the market for buying their stock back. stuart: apple is on track for a record high close the keeps on as it is. tesla is okay, apple is okay, we like that. let me show you the big board. it keeps going up. 160 points higher and this move

higher really started when donald trump was talking about wonderful trade deals that are going to be announced. a firm date and time with the north koreans that we won't necessarily have to withdraw our troops from south korea. ashley: the general sense of a lot of things going on in the background that could bring her a couple changes with north korea. this is all coming together for a big announcements. >> the dow is up 150 points. i want to move on to the ohio senate race, congressman and gop senate candidate jim ren c renacci was endorsed by donald trump directly. our next guest is running for the same nomination, ohio senate candidate mike gibbons. you are a trump guy, but did get the trump endorsement. >> i didn't.

it is more the establishment. the motivation was from mitch mcconnell, and his committee, the one that contacted jim r a renacci and they don't want an outsider in that slot. i am an outsider. stuart: you are never up for political office. you come from a business background like donald trump. >> the middle market investment banker started in cleveland 28 years ago, one of the better-known firms in the us and market investment banking. i have been selling ideas, that is what we need in the senate. stuart: all three republican candidates going for the nomination are on-screen now, melissa atkinson, mike gibbons, jim renacci are big on donald

trump. in ohio at least donald trump is popular? >> he is popular but i was cochair of state fundraising activity, race a significant amount of money for him and interviewed with the administration before i decided to do this and was offered a job by the administration. he doesn't know me from adam but i don't think he knew jim r renacci either before he supported him. stuart: the ultimate end game is beating sherrod brown, democrat ohio. one of the more leftist among democrats in the senate. >> right there with bernie and elizabeth. stuart: you going to beat him? >> i think i can. i think it is going to take an outsider to deed him. the first thing i say when i speak to the voters is i am not a politician and usually i am

stopped by the applause. that is what resonates with the voter right now and seems to be why i am in this race. stuart: in what way if elected to the united states senate in what way would you be truly different? you are an outsider from a strong business background, what would you do that would be really different? >> i would turn the healthcare system on its head. i don't believe the government after they make payment to the people that need it should be involved in healthcare at all. what we are paying twice as much in the industrialized world largely because we have a government picking winners and losers. this country got to where it is with free enterprise and we have not used it truly in the healthcare market. i am a philosophical conservative, conservatism works for everybody. and not being beholden to mitch

mcconnell or donald trump, i can vote conservative principles and constitutional principles without regard to having to pay anybody back. stuart: mike gibbons, republican candidate, thanks for joining us. by the way next tuesday, live coverage of elections on the foxbusiness channel and foxbusiness network, that will be tuesday, may 8th, at 8:00 pm. united airlines hires a new spokesperson. ashley: josh earnest. the press secretary under pres. obama. back in those days it is an easier time under the obama presidency than sarah huckabee sanders gets now but he will take over the lead communications job for united airlines which will be difficult for him because this airline has had some really bad pr things. a passenger drag off the plane,

a pet diana never had been. it is his job to lead the effort to reboot the brand image and be the leading spokesperson, the face of united airlines. it is a good name. >> the headlines, the very latest with animals blue. stuart: he has a tough job ahead of him. nancy pelosi guaranteeing a democrat win in the midterm elections, mike huckabee says not so fast. he is on the show coming up after this. new legislation in california that would allow illegal immigrants to serve on state boards. >> i don't leave it. stuart: legislation is right there. california the formerly golden state. we are back with more. ♪

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stuart: in the last hour two wwe stars, john wayfeel that may role candidate glenn jacobs gave glowing endorsements of each of the skills outside the ring.

>> of all the people i met in the last 30 years glenn is the one person, too smart and honest to be a politician. i thought he would never have a chance to be around these guys. the tagteam, a phenomenal job. >> and when you talk about the economy and financial matters, john was the go to guy. they all got a story about what happened to 'em. man 2: it was raining, there was only one way out. i could feel the barb wire was just digging into the paint. man: two bulls were fighting, (thud) bam hit the truck. try explaining that to your insurance company. woman: another ding, another scratch. it'll just be another chapter in the story. every scar tells a story, and you can tell a lot more stories when your truck is a chevy silverado.

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stuart: look at apple. that is an all-time high, all-time record high, closed up 6 points at 183. go pro sold more cameras, lost less money, they are up 7% right there. they are telling users to change their passwords. >> they take their passwords and change it according to the catalog. this has been going on for months, they apologize, i used my twitter account, stock not much affected, down by 1%. i want to bring up a positive for the company going forward,

signing a deal with disney to lunch live streaming video. that is possibly a huge avenue of growth, they could be competing with us. stuart: they could be the platform. >> exactly. shows are being made for twitter now. stuart: one of these days twitter will escape the $30 barrier. a low form of with. now this. some democrats are shying away from nancy pelosi's leadership, they came to take back the house in november. do not count on a blue wave winning in november. don't count on the democrats taking back the house in november. look who is here. mike huckabee, why do you say, conventional wisdom is democrats are going to walk in and take control again. why do you say they are wrong?

>> there is nothing conventional about this era of politics. what is the democrats message? elect us, we will raise your taxes back to where they used to be, restore all the parts of obamacare, open our borders and fire a bunch of ice agents and make it easier to slip in the border and go back to the foreign policy that gave us isis, the iran deal and did nothing about syria and north korea. does that selleck a winning message to you? if it does you will be voting to make nancy pelosi speaker again. stuart: has the message of growth and prosperity and better wages and more jobs, that is the other side of the coin. i don't think that message is getting through. you can't penetrate the media. >> hard to get through to the media because i wearying his resurrection a russia. sound like a mess up of the brady bunch it, getting

sick of it and they realize even while the talking heads on most networks only talk about peripheral issues, the truth is this is an administration getting things done that affect their lives and when they talk around the kitchen table they are not talking russia. they are talking more money in their pockets and paychecks and talking about a president who want to build a wall and not that people in who are waving the flag of a foreign country in their face. stuart: and correct wiretap story on donald trump's personal lawyer michael cohen, looking at nbc and cnn it is nonstop stormy daniels. and if you try to take down this president on the basis of what may have been a white lie about an alleged affair 10 years ago before he got into

politics, try to take him down on that there would be hell to pay, excuse my language but i think that is the way is going to be. >> totally agree and i never disagree with you so -- sometimes i think cnn is running a parody of the weather channel because it is stormy stormy stormy, they might as well get jim can tour to hug some type of lightbulb and talk about stormy. they had her lawyer on more times than anybody from the administration. at some point they have to become embarrassed by their lack of practice in legitimate journalism. stuart: you think republicans will keep control of the house and democrats will not be successful in impeaching the president over a white lie, we do agree. thanks for joining us. how about this one? the dow is up 200 points. electric scooters taking over

streets and sidewalks and wreaking havoc. bringing you the full story. another check of apple hitting an all-time high, 183, more varney after this. ashley: they were there this morning. ♪ you wouldn't accept an incomplete job from any one else. so why accept it from your allergy pills? most pills don't finish the job because they don't relieve nasal congestion. flonase allergy relief is different. flonase relieves sneezing, itchy, watery eyes and a runny nose, plus nasal congestion, which pills don't. flonase helps block 6 key inflammatory substances. most pills only block one. and 6 is greater than 1. start your day with flonase for more complete allergy relief. flonase. this changes everything. and i recently had hi, ia heart attack.

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>> the reporting we causing chaos in san francisco. the bike share company spin. it is an electric scooter sharing operation in new york city. chaotic in san francisco, respond to it. >> and a lot of work we need to do. it is an incredible response from people getting around.

it is an early look at what cities could look like in the future. stuart: would you agree the sidewalk is for pedestrians and should not be for any kind of mechanized vehicle whether it is a biker electric scooter. >> that is the law, sidewalks are off limits. and otherwise scooters are to be used on roads and bike lanes. >> the electric scooter sharing concept all across america. >> the bike share -- we introduce pedal bikes in the last year, and they have great uptake and the solution is

electric scooters and with users especially. stuart: you and the guy from spin, the pres. of spin, thank you for joining us. it will develop. california, the formerly golden state with good reason rolling out the welcome mat for illegals. you will get my take on that next.

stuart: california is rolling . >> a lot more power over state policy? that's what's happening. democrat state senators ricardo lara and wendy carillo have introduced legislation to allow anyone to serve on boards regardless of immigration status. that means all you've got to do

is set foot in california, and you can get your hands on the levers of power. as the l.a. times puts it, that would allow any californian to serve on hundreds of boards and commissions that advise on an array of policy areas including farm a labor, history and employment development. not to mention zoning, housing policy, environmental policy, and the list dose on. you name -- the list goes on. and if this legislation passes, illegals will get to call a few shots. the formerly golden state is already a sanctuary for illegals. there are two million there already, and the state makes it very difficult to get them out. they want them to stay. once there, they have the right to education, health care and a driver's license. and, by the way, if an illegal votes illegally, there is no penalty. gee, sure looks like california is doing its best to corrupt the electoral process. and, of course, cement a permanent democrat tom nance of california politics. i arrived in california as an

immigrant in the 1970s. i had a green card. i was legal. but all the immigrants that i knew, we all knew that if you broke the rules, you were in trouble. my, have times have changed. these days all you have to do is get in. and now this legislation will let illegals decide policy for other legal immigrants and for native-born americans. imagine, you want a variance for the fence around your house, and you have to ask permission from an illegal. it's a takeover, and it's wrong. the third hour of "varney & company" is about to begin. ♪ ♪ stuart: well, roughly 15 minutes from now we'll talk to that lady, the chair of the san diego county board of supervisors. she's a big opponent of california's sanctuary state policies, and she will react to the editorial which i just

delivered. check that big board, please. we're close to session highs, if not right at them, up 200 points, and we've got 27, 26 of the dow 30 in the green. president trump, last hour, saying there are some incredible trade deals to be announced. maybe that's hyperbole, but it might have had an effect on the market. joining us now, jonathan hoenig, capitalist pig kind of guy and a fox news contributor. welcome back, good to see you. >> thank you. great to be with you. of. stuart: just sit still, lad. you're the only guest that we have to move the camera every shot. sit still. [laughter] now then, i think -- [laughter] i think the president started this rally as he was talking about, as he was about to get on air force one. he was saying that we've got a date and a time for the north korea meeting, that you're going to get great trade deals announced, it was a good jobs report. i think he produced this rally. you gonna say no? >> well, apple probably had a

lot to do with it as well, amazon.com. as you mentioned, apple's at an all-time high. these are the companies that make up the market, you know, stuart. they're the ones that really have been driving the market forward for quite some time. i think you're right to a point. any certainty in this trade issue is going to be a benefit, and a lot of farmers in the midwest, for example, don't know how to plant, hedge or even maneuver their crops given that level of uncertainty. that would be a help, but in terms of today's rally, i would have to put the quiver in apple, amazon. these are the companies that are -- tesla even. moving the industry forward. stuart: it's fascinating. all over again it's the big tech names that are moving things forward. now we're up 214 points. jonathan, i want you to take a look at bitcoin because goldman sachs is getting into bitcoin futures for its clients. i know you're no fan, but if goldman sachs gets into the act, that gives some legitimacy to cryptocurrencies and bitcoin, doesn't it?

>> it does, but ironically from the trader's perspective, stuart, that tends to mean the end of the move. the real money made on bitcoin has been made, you know, before there was futures and options and etfs and all these securities made on it back when it was difficult to buy, trade and get into. we often see that with securities. you know, back in the early 2000s behind gold, for example, you would either buy futures accounts or bars. i think the same thing with bitcoin. once the big guys get in, i think the real move and the real money has been made. and, in fact, if you look at bitcoin, it's still 50% -- excuse me, 100% off the high. stuart: can you just give me 20 seconds on why you wouldn't touch bitcoin with a 10-foot pole? >> more than anything it's weak, and this is a weak asset. it's an asset that everyone's talking about. what i'm interested in the now, stuart, for example, securities like corn.

you know, the grains finally are beginning to break out. you don't hear that being discussed too much or even shipping stockings. these are ways i think you can beat inflation. so i believe that idea of once everyone, once the cab driver's talking about, the money's probably been made. doesn't mean that bitcoin can't go up, but the fact as you said goldman, the big guys are getting in, i think i'd rather be short than long given where it's sitting. stu institute the cab driver -- stuart: the cab driver indicator, that's a tough one. jonathan, thank you very much. >> cool, be well. stuart: sure thing. we received the april jobs report, 164,000 new jobs added. paul conway's with us. i think that was a disappointing jobs number. it should have been, i thought it was going to be a lot more than 200,000. you disappointed? >> i am, actually. i think it's an okay report, stuart, but you really want to see it. i firmly believe there is slack in the labor market.

it should be up over 200,000, and we should be driving it. the previous months were updated, and you see some strengths in manufacturing and mining and things like that, but i agree that number should have been higher. stuart: okay. different subject for a second now. we've got a new poll showing growing support for government-guaranteed jobs. you're laughing, i owe what -- i know what you think of it, i think it showed 47%, 46% were in favor of a government-guaranteed job for every american adult. what's going on in america, paul? >> i can tell you i'm the former chief of staff of the office of personnel management, and not everybody wants a guaranteed government job. a couple of things that are going on in this. i think that there's a breakdown, obviously, the schools don't teach civics anymore. i think the political parties, both of them, have lost their way in not connecting the dots to american philosophy. in america we believe in equal rights but not to equal things, and i think both parties should be taken to account that they

need to do more in educating the activist base and the population overall in terms of what it means to be in a democracy and the threat that socialism actually plays. stuart: i think you're right. socialism is the keyword here which is missed out in polite society. [laughter] that's really what we're talking about. and you throw in thissed idea of the guaranteed -- this idea of the guaranteed basic income, it's somewhat similar to the guaranteed government job. but, you know, it's there. it is a factor, and it's a factor in the coming election. that's a fact. >> it is. and i tell you what, this is the time right now -- not late august or in september -- to engage on the political campaigns. pause this a distinct matter of philosophy. many years ago i had a rare opportunity to talk to ronald reagan directly as a young political operative, and i asked him what drove you to become a republican. he cited a conversation that he had with al smith where he told him, basically, under franklin delano roosevelt the democrats had gone skinny dipping.

they had left all their clothes on the bushes, and along came the socialists and took their clothes. i think the same analogy is here today, that people aren't focusing on that fact. i think going into the elections you've got to ask a solid question which is this: for those people who are advocating policies that create more dependency and actually offer false compassion, do your policies actually increase economic growth and create more jobs for young americans and for minority americans and disabled than what's happening right now, and if not, explain yourself. and if they can't do it, defeat them. stuart: i think they're just running against trump, period. they are. paul congressway, thank you so much for -- conway, thank you so much for joining us. the dow is up more than 200 points. the price of oil is up again this morning, pretty close to $69 a barrel. but there's no change in the average price of gas nationwide. you're still looking at $2.81, same as yesterday, for a gallon of regular. that's the national average.

today we'll talk to the man on the left-hand side of this picture, got it? he's one of the owners of heartland brewery here in new york. they've been hit so hard by the minimum wage increase, they want a surcharge added to customers' bills to help them make up the cost. they've already had to close two locations. he is on the show, man on the left. arch-leftist, economist paul krugman, he doesn't like the gop tax plan. has he been talking to marco rubio? we're on it. pastor daryl scott, friend of the show, wants to host a white house summit on race after kanye west went public with his support, surprisingly, of the president. candace owens, the woman who started this ball rolling, she's with us this hour. california democrats introducing a bill that would allow illegals to serve on state boards and commissions. next, kristin gaspar, chair of the san diego county board of

supervises -- supervisors, on that summit. ♪ ♪ nothing says spring like fresh flowers, so let's promote our spring travel deal on choicehotels.com like this. (sneeze) earn one free night when you stay just twice this spring. allergies. or, badda book. badda boom. book now at choicehotels.com. and i recently had hi, ia heart attack.

it changed my life. but i'm a survivor. after my heart attack, my doctor prescribed brilinta. it's for people who have been hospitalized for a heart attack. brilinta is taken with a low-dose aspirin. no more than 100 milligrams as it affects how well brilinta works. brilinta helps keep platelets from sticking together and forming a clot. in a clinical study, brilinta worked better than plavix. brilinta reduced the chance of having another heart attack... ...or dying from one. don't stop taking brilinta without talking to your doctor, since stopping it too soon increases your risk of clots in your stent, heart attack, stroke, and even death. brilinta may cause bruising or bleeding more easily, or serious, sometimes fatal bleeding. don't take brilinta if you have bleeding, like stomach ulcers, a history of bleeding in the brain, or severe liver problems. slow heart rhythm has been reported. tell your doctor about bleeding new or unexpected shortness of breath any planned surgery, and all medicines you take. if you recently had a heart attack, ask your doctor if brilinta is right for you. my heart is worth brilinta. if you can't afford your medication, astrazeneca may be able to help.

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stuart: extraordinary pictures out of h. the kilauea volcanos has erupted, and that sent lava down streets in the area. after days of minor tremors, about 1500 people have been ordered to evacuate. no appropriators of injuries -- no reports of injuries. my editorial, top of the hour -- call it a rant, if you like -- california democrats introducing a bill that would allow illegals to serve on state boards and commissions. joining us now is the chair of the san diego county board of supervisors. kristin, in my opinion, if this legislation passes, illegals will get their hands on policy, get their hands on power, and i think it's dead wrong. what say you?

>> last time i was on this show i asked wheres has all the common sense gone. well, i think it's official hi gone. now we are -- officially gone. now we are officially prioritizing illegal immigrants over our own citizenry. it is wrong. stuart: now, i used to live in california many years ago. there were boards and commissions all over the place for everything. i mean, whether it's a fence around your house, you've got to go to the zoning board, you've got to go and ask permission to do just about everything. that's why i say if you have illegals on these commissions and boards, they've got real power. spell it out for us, because i think -- i don't think our audience realizes this. >> well, let's look at san diego alone. on the county board of supervisors, i make appointments to 132 boards and commissions. think about that across the state of california, across the nation. these are illegal immigrants now making decisions for citizens

throughout our entire country. how is it even possible? stuart: well, look, the democrats run the legislature in california, in sacramento. this legislation is likely to pass, isn't it? >> it's likely to pass. governor jerry brown here in california bringing us the sanctuary state, allowing criminals back out onto our streets. senator deleone here in california who's the author of the sanctuary state policy who thought it was a great idea to allow rapists, to allow murderers back out onto our streets, we have people in elected office that do not respect our laws. they're making decisions for us, and now they're inviting more to the table to make decisions for us. it's going to be harmful to our citizenry. stuart: now, kristin, earlier this week we had brian marriott on this show, he's the mayor of -- mayor pro tem of san juan

capistrano in orange county. listen to what he said about the gop's growing momentum. roll tape. >> the tone has changed out there, stuart. i'll tell you, the last six or seven weeks we're seeing we may have a republican governor in the top two -- i know you know john a bit -- and we'll see what happens. the last few weeks there's been a change in the tone out there. people are fed up. stuart: you know, as you heard there, he mentioned john cox, republican candidate for governor. well, cox just picked up the endorsement of house majority leader kevin mccarthy. so, kristin, the original theme here is a republican renaissance happening in california? >> we're seeing a shift. and i think it's because people are saying enough is enough. you know, first we had s.b. 54 and implications of that bill and policy back in california, then we had this crash, the big caravan coming across our border, just this lawlessness that's happening. and it's going to drive people to vote. and hopefully, it's going to

drive people to vote for the right people in power. stuart: well, will you go out on a limb and predict that a republican could win statewide election in california? >> considering the amount of correspondence that i've received from people who are just fed up, these are republicans, democrats, independents, this could be the case in june, and it could be the case in november. stuart: and you're hoping for it. kristin gaspar, thanks for joining us, ma'am. we appreciate it. >> thank you. stuart: sure thing. now, we're going to show you anheuser-busch's stock, right-hand side of the screen -- left-hand side. those are, that's a hydrogen truck. anheuser-busch has just ordered 800 of them, but it didn't order them from tesla itself, they ordered it from a tesla rival, by the way. there's no impact on the stock of budweiser -- anheuser-busch, i should say. it is, actually, a little higher as we speak. now this, united airlines hired former obama press

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♪ ♪ stuart: why are we playing "star wars" music? >> no idea. [laughter] stuart: tickets go on sale today for the new movie, solo: a star wars story. it's a prequel. the movie comes out at the end of the month. [laughter] christina -- [laughter] >> i was making the chewbacca noise. stuart: that was good. [laughter] oh, by the way, is that what it was? today is national "star wars" day. may the fourth be with you. get it? may 4th, fourth be with you? okay, let's move on. if you're on the west coast and you've got a craving for a slice of new york pizza, for a limited time you can get one, jetblue

will deliver cheese and pepperoni pizzas from the city to los angeles for less than $20. they're only delivering 350 pizzas a day. not yawning at that, are you? >> no, definitely not. making me hungry. stuart: twitter is telling all 330 million of its users to change their passwords. twitter says it discovered a bug that stored some passwords unprotected in its internal system. they said they fixed the problem, and there is no indication any passwords were stolen. the stock is at right, almost at $31 a share. up a bit today. i think this is close to the high of the day for the overall market. the dow jones average as we speak is up 230-odd points, and 26 of the dow 30 are in the green. they are up. that's a gain of 1% for the dow. on the s&p it's a gain of .8%, and on the nasdaq -- which, by the way, has just turned positive for the week -- that's up 1.25 percent. that tells me big tech doing okay. for example, look at apple.

warren buffett bought 75 million apple shares in the first quarter of this year, that's pretty close to a record high -- >> i believe it's an all-time high. stuart: candace owens, the woman who started the national conversation about race that got kanye west involved, she joins us here in the stewed yee shortly on a -- studio shortly on a possible white house summit with kanye. she's coming up. and now this, illegal immigration at the border surgeried, wait for it, more than 230% in april, and the president is tweeting about the wall. we're on it next. ♪ ♪ ♪ ♪ i can do more to lower my a1c.

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stuart: check the big board, we're up 230. check the dow 30, 27 of 'em are up. i'd call that a rally. all right, now this: new numbers show illegal immigration at the southern border surged more than 230% in april, that's compared to april of last year, up 230%. and the president's tweeting about it. here it is: our southern border is under siege.

congress must act now to change our weak and ineffective immigration laws, must build a wall. mexico, which has a massive crime problem, is doing little to help. congressman louie gohmert, republican from texas, is with us now. what's with this surge, louie? 230%? what's happened? >> well, because they've heard that the courts are saying that daca has to stay in place, they've gotten where, gee, it looks like we can get in free, and we don't have to go to jail at all. and so of course they're surging. and border patrolmen tell me constantly every time there's any talk of legality or legal status, amnesty, daca, anything like that, they always get big surges, and that's exactly what's happening. now, the president is right, but we have immigration laws that need to be enforced. but we have got to give the president the money he needs to actually get iten enforced.

but woodrow wilson put about 75,000 national guard troops on our southern border. nobody came in that we didn't want to come in. and we've got to get the procedure changed so we don't let people step on american soil -- stuart: all right, louie -- >> -- if they're not coming legally. it's got to be stopped. stuart: i get you, but do you have the votes to get it done? i don't think you do. >> i don't think we do either. we just saw that on the spending bill where the president -- the omnibus, where they didn't get the president the money that he needed. it's why some of us voted against it. it is not addressing the problem. he got $1.5 billion for mending fences, basically? that's not giving him the tools he needs. we have got to get serious, and i think the american public has got to speak up, gotta let our more weak-kneed

friends in the house on the republican side though you've got to stand up, give the president the tools he needs stop this assault on our sovereignty. that's a what it is. stuart: as you know, louie, one of the themes on our program has been we've talked a lot about the tax exodus, the go discuss of -- exodus of people who leave california, new york, etc., have they arrived in texas yet? because a lot of them are going to texas. >> yes, they are. as i understand, florida's the number one recipient, texas number two. and we are seeing that because some of the people that have voted to ruin california, raise taxes, let so many people in illegally and give them benefits have seen that they've damaged or destroyed california, so they're moving to texas. and we're seeing counties that have traditionally been very red now getting a little bit blue because they haven't learned from their mistakes. but i was just speaking in l. a. wednesday night at the horowitz freedom

center, and i was hearing people there tell me we're coming to texas, we're coming to florida, we're moving out of this -- taxes are insane here. and they don't like the illegal sanctuary cities that are bringing people in and saying if you're a criminal, we want to be your place to stay. stuart: just so long as they come to texas but don't turn you blue. louie gohmert -- >> don't turn us blue. learn from your mistakes. [laughter] stuart: thank you, louie. always a pleasure. >> thank you, stuart. thank you. stuart: got it. joining us now is a huge star. candace owens, the communications director for turning point usa. candace, welcome to the program. >> thank you so much for having me. i'm so excited to be in studio. stuart: we're excited to have you on the show. [laughter] mutual admiration society. >> absolutely. stuart: look, this morning we got the jobs report. 6.6% is the black unemployment rate, if i can put it like that, the lowest ever recorded. why isn't that message getting out to the black

community? >> because they don't want blacks to be independent. we saw that with the state of the union address -- stuart: you're talking about black leadership as opposed to the mass of the black community. >> absolutely. what it comes down to is that message can't get out because they don't want blacks to be independent. we saw that in the state of the union address when they sat down when they announced that black unemployment rate was low, and they food up when obama was in office for more to do food stamps. stuart: i don't get it. surely, the leadership of black america wants real progress. >> no. stuart: surely. >> nope, absolutely not. i believe very much that many of them get their pockets lined. you think about maxine waters, she's always ranting about racism, never talking about all of the positive progress that's happening in the black community, but she lives in a $6 million house. she's made a lot of progress while blacks were suffering in america. she has no reason to switch her strategy whatsoever. stuart: what you're saying is that black leadership is engaged in the race business.

it is a business. >> correct. stuart: you saying that. >> that is absolutely right. stuart: that's pretty harsh. >> it's true stuff as well. it can be harsh, and it can also be true. and, unfortunately, that's what it comes down to, the black community needs new leaders. that's why i got in this. i understood race had become a business, and they're risking everything right now, stuart, everything. stuart: extraordinary. pastor daryl scott -- i'm sure you know him -- >> yes. stuart: he's a frequent guest on this program. he wants to host a white house summit on the issue of race. i think kanye will be there, and i think you were the catalyst for this, weren't you? >> correct. so we're doing at turning point usa the young black leadership summit in d.c., and i understand the criticism. a lot of people say you can't use race, you can't use identity politics. yes, we need to do that because there have been so many black conservatives who have had their voices silenced, who have been told they're not allowed to think those ideas. we want to send a strong message to them to tell them that the time is now and that they are not the only ones.

there are plenty of us thinking like them, and it's time for them to feel like they can be leaders in their own community. stuart: if you get this summit together, what would you think is the overriding goal of getting everybody together? >> to empower them and and to give them a voice and to tell them they are not traitors as they have been treated. they don't have it wrong, they have it right. and like i said before, the time is right now. stuart: what's the reaction to you? because you made a big splash -- [laughter] you really did. what happened to you? >> look, it's love and hate, equal parts. i had planned to do this. i said i want to launch an ideological civil war in the black community. i want black people to begin arguing. that's great, because it means that we have different ideas. arguing is good. it means that we're willing to debate and to use facts and data and research to support our arguments. so i'm very pleased with the business of being loved and hated. stuart: are we going to get this summit going? >> absolutely. stuart: you don't have a date yet, but it's going to happen. >> it's 100% going to happen in october of this year.

stuart: you work with charlie kirk, turning point usa. >> i do. stuart: we always say he's going to be the president of the united states, 2040 -- [laughter] are you going to be vice president or press secretariesome. >> i would love to be his secretary. i say, charlie, if you don't become the president, i can't be the press secretary, and i would love to go at the press, let me tell you. that would be the greatest gift ever -- stuart: well, here i am. [laughter] wouldn't you like to be the president? >> no. that is not in the cards for me. i think that's incredibly stressful job, and i'm too much of a street fighter. i'd get into way too much trouble if i was in the white house. stuart: come on, you're not a street fighter. [laughter] you're not a street fighter. >> yeah. it's harder when you're inside the white house than it is when you're on the outside. i like to defend the white house from the outside. stuart: candace, we think you're all right. come back. >> i absolutely will. thank you for having me. stuart: all right, some individual stocks that are moving, in particular shake shack. how do you like that? they got a rosy

forecast. that's good for 22% as a gain. look at tesla, $100 from its all-time high last september. it's just up a little, couple of bucks at $286. very soon we're going to talk to the man on the left of this picture, he's one of the owners of the heartland brewery in new york. they've been hit so hard by the minimum wage hike, they want a surcharge added to customers' bills. they've already had to close two locations. that guy on the left, on the show. arch-leftist paul krugman slammed the gop tax plan. we're going to play it for you, and we'll be back. ♪ ♪

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♪ >> i'm nicole petallides with your fox business brief. who will win flip cart? that is india's e-commerce fast-i growing company. walmart is up more than three-quarters of 1%, amazon a half percent, and we have one report saying that walmart, in fact, is the winner, that a deal has been approved by the board,

75% stake, investing $15 billion. though there are other reports, according to another source, that it's only been in principle approved that, in fact, there are some hang-ups such as taxation and other issues. earlier in the week we heard a report that said that amazon had made a 60% stake offer with a possible $2 billion break-up fee. and the facts are that this is a growing area in india for e-commerce, and we are seeing both amazon and walmart higher. into retirement. and market volatility isn't top of mind. that's because they have a shield annuity from brighthouse financial, which allows them to take advantage of growth opportunities in up markets, while maintaining a level of protection in down markets. so they're less concerned with market volatility and can focus more on the things they're passionate about. talk with your advisor about shield annuities

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if you can't afford your medication, astrazeneca may be able to help. stuart: president trump saying this morning that the time and place have been chosen for the upcoming summit with kim jong un. they've got the time, they've got the place. haven't announced it yet. joining us now is the founder of the heritage foundation, edward feulner. wow -- [laughter] >> stuart, great to be here. i wanted to get out of the swamp for one day, so here i am. stuart: you've just come back from asia. i'm calling it progress that you've got the time and the date for the summit, and the president also said removing troops from north korea is not on -- from south korea is not on the table. i call this progress. >> his team is absolutely prepared. these guys know what they're doing. they've studied this thing for decades, they know where they're going, and they remember what ronald reagan said, trust but verify. stuart: on that note, do you think that at the end of the day it is possible that kim jong un

will get rid of those nukes, just get rid of them? you really think so? >> there's not going to be a u-haul caravan going out of pyongyang with those nukes. yeah, staged but no lifting of sanctions until after they're out, period. and you've got to convince china of that, which will be a big challenge. stuart: and you are very skeptical that at the end of the day we'll have a deal of some sorts. >> yeah. we've been here before on the nuclear thing and never did quite work out the way we wanted it to. stuart: once they've got them, it's hard to say good-bye, because he wants to survive as the leader of north korea. >> yeah. but i think this administration has said, hey, get rid of the nukes, we're not going to go after regime change, and we can get along like east germany/west germany, go through a period like that. maybe that's enough. the neat thing is this president thinks outside the box. he's changed the whole debate. i mean, three years ago who

would have thought that a president of the united states would have been sitting down with the president of north korea? it's unbelievable. stuart: something out of the box might just come up -- >> it might happen. stuart: -- that fixes the problem. we shall see. i want you to listen to what paul krugman, you know paul krugman -- >> i do. and he's always condemning us down at heritage. [laughter] stuart: well, he just condemned the gop tax plan. watch this. >> there's enough data already under, you know, under the bridge for us to say that this is not playing out according to the story. this doesn't look at all like the story. this looks like the tax cut is a nothing burger as far as business investment is concerned. stuart: the tax cut is a nothing burger as far as business investment is concerned. edward feulner says? >> i say that's nonsense. job creation, the unemployment numbers we just heard this morning, the repatriation of capital coming back? yeah, some of it's going to stock buybacks, but when apple -- i remember being on one

time saying, well, apple will repatriate $100 billion. $300 plus billion. it's coming back, it's going to be invested. even if it goes out in shareholder disbursements, the shareholders are going to do things with it. yea for small business. 30 million small businesses, that's where jobs are created. i'm so optimistic right now in terms of where the economy's going, it frightens my wife. [laughter] stuart: you are the guy, you were on this program in december of last year, and you said the dow industrials would get to 26,000. i think you said by the end of december of last year. well, you were off by a month. >> yeah. well, four days, actually. [laughter] stuart: okay, all right. four days. >> and it has slid a bit since, but -- stuart: but you do believe that this tax bill, the tax package that we've now got in place, that has created this movement towards prosperity, this growth in the economy? >> absolutely. not only the three million people who have got their

one-shot investments right now labor shortage, bonuses going to people, the price of labor's going to go up in order to meet the demand which means that the economy's going to be doing better, workers are going to be doing better. it's great. stuart: i'm going to introduce you to christina who is a newcomer to our program, and i believe she has a question. >> more of a statement, maybe debbie downer, but you're seeing the economy grow -- this has been happening for quite some time. i think it's a little bit too soon to say the tax cuts are the reason for that growth especially when you're seeing companies buy back m&a opportunity, and then you said it's being trickled down to investors. 80% of shareholders are the wealthy. i know that we're going to have a lot of arguments about that, but i don't think it's necessarily contribute dog the growth -- contributing to the growth, and they're just going wah, wah, but think of the average joe at home like me. i don't think it's necessarily helping, and it's a short-term gain for long-term pain. >> no, no.

long-term gain. the, that's what supply side's all about. you grow the economy, the pie gets bigger. but beyond that you look at where these numbers are heading, and it's very, very upbeat and optimistic from my perspective in terms not only of what we already talked about in growing economy, but -- >> this is investing though, that's not the issue. even goldman sachs, you don't believe me, many banks are putting out notes saying they are concerned businesses are not investing and contributing to wage growth. >> why is jpmorgan chase opening 300 new branches? >> they need to diversify away from fixed income. >> no, they're hiring a lot of bankers around the country and being better, more service-oriented. that sounds to me like what a growing economy talk about. that's why right now you've got so many people in burlington northern, $25,000 bonuses to find pipe fitters because there aren't enough around. boy, this is a booming, growing economy. there's so many positive things

going on, and a lot of it's happening because of the tax cut. stuart: you retired. you're not happy with retirement, are you? >> no, no. stuart: you want to get back in -- >> i'm in it. [laughter] stuart: i knew it. i'm out of time. >> one final point. stuart yep. >> talking about an african-american, black summit in the white house. you know, my successor at heritage is kay james. now, that really shook up washington. not only did heritage employ a female as its new president, she's an african-american female. do you believe that from the heritage foundation? stuart: that's incredible but there you are. you did it. and you founded the thing. edwin feulner, thanks for joining us. >> thank you, stuart. stuart: okay. bitcoin this morning is at $9,500 per coin, the price of gold is, where is it? about $1300 last count, 1311. down just a buck today. now this: new york city raises its minimum wage. oh, yes, it did. restaurants want to add a surcharge to your bill to pay for it.

the man on the left of the picture is leading the charge. he's already closed two restaurants because of that minimum wage. he will join us after this. ♪ ♪ as a control enthusiast, i'm all-business when i travel... even when i travel... for leisure. so i go national, where i can choose any available upgrade in the aisle - without starting any conversations- -or paying any upcharges. what can i say? control suits me. go national. go like a pro.

stuart: i've got some stocks that are moving, start with blue apron. they're going to start selling their meal kits through costco. their growth is slowing, they need another outlet. costco's up, blue apron is up 5%. strong profit and revenue at act vision, but their forecast fell a little short, nonetheless, blizzard is up 3%, how about that? gopro, they sold more cameras, they lost less money, that's good for a 6% gain. more money coming over the transom at alibaba, that's good news. up 2% there, that's $higher, 186 -- $4 higher. our next guest is a restaurant owner here in new york, and he wants a surcharge added to customers' bills. he says they're getting killed by the rising minimum wage. john bluestein is here, the ceo of the heartland brewery. welcome to the program. >> thanks so much for the invitation. stuart: did you close two

restaurants because of the rising minimum wage? >> well, the way it works -- let me exchange this surcharge thing. stuart: sure. >> it's not me, it's the entire restaurant community that i'm basically representing. and what's happened is a bomb fell on this city in 2015 because the state imposed six minimum wage increases in a three-year period. we can't absorb that. the rest of the state gets, like, seven years for that. so we're trying to get this surcharge. and what the surcharge is, actually to clarify to the public that may not understand it, it's a small percentage at the bottom of the sales check that's completely transparent, completely disclosed, it's on the menu box outside the restaurant, and it's on the menus. so this small percentage will help us prevent rising prices for the men yules. -- menus. stuart: do you have to ask permission from some city authority to do that, to impose the surcharge? >> yeah, here's the problem, for two and a half years we've been

trying to get that, and we should not need permission from our local government -- stuart: absolutely. >> -- because everyone else in america, including new york state, allows the surcharge. it's new york city. and they don't even have a position about why they don't want to do it. stuart: well, that's ridiculous. it is your company, it's your capital, it's your risk, you should be able to run that restaurant the way you see fit. >> it's worse than that. they've taken control of our payroll, and restaurant business we have a lot of employees. our biggest controllable expense has been payroll. and now it's not. so we've had to do a lot. what we've had to do is address the payroll, which is bad for the city, and it's bad for employment, and it's bad for labor. we cut jobs across the board, we cut hours, we simplified our menu to make it easier to prepare so we laid off guys in the kitchen, which who wants to do that? and we can only raise menu prices so much. i think albany thinks because

it's new york city in three years we can raise mean you prices as high as we want. doesn't work. >> stuart: they think you're rich, they're poor, therefore, take it off you and give it to them. >> right. stuart: that's what they think. you look like you're fit to be tied about this. you're angry. >> i'm taking it personally now because our organizations that represent us have not made much headway with the city. i mean, it's not working. it's not working. i put up a 6-7 sign because i wanted the mayor to read it because he hasn't been paying attention to the 8.5x11 letters i've been sending. next step is go to the city council. it's not such a complicated issue to understand. we don't understand why they just haven't said, okay, go ahead. it's god for you, it's good for the city, it's good for labor. stuart: and it's your business. come on, this is america. >> of course. and also none of the guys on this letter are building any new

restaurants now. they're not developing because they're not going to do well, and there are no investors that want to invest in restaurants in new york right now. stuart: john, please come back when i've got a little more time, because we're very interested in this, and we feel your pain, as one might say. heartland brewery, thanks for joining us. >> thanks. happy to come back. stuart: yes, sir. there will be more "varney" after this. ♪ ♪ your company is constantly evolving. and the decisions you make have far reaching implications. the right relationship with a corporate bank :un . : . opportunities. pnc brings you the resources of one of the nation's largest banks,

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what the three hours it has been. it goes by quickly. it started to a half hours ago. we were down 200 or was at

170? and then president trump appears and makes a couple statements about career and the jobs report et cetera et cetera, we were down 151 and now are up 250. do the math. that means we were up a swing of 300 points, 400 points during the day. i can't do math neil, how about you. >> obviously rethink worked out just fine. do we know at what level warned buffett was buying apple stock? was it in january when it was in correction territory. >> . stuart: just anytime in first quarter. when the news broke that was a shot in the arm for apple. >> you said one buffet spine and, no wonder why tim cook is so happy. thank you very much. as i said the apple