>> i can't wait to watch you this weekend. >> lots to talk about this morning. >> so much. have a good weekend. >> so much. "varney & company" starts right now. >> good morning everyone. here is the big story. the bombshell it's sinking in america's premier law enforcement agency spied on donald trump's presidential campaign. the fbi had at least one human inform map known as a spy. think about this, the campaign in full swing rough and tomb nbl extreme and one society is spied on by the other i'm sure this is tried in the past but this time around it was the fbi that was doing it in in late spring of 2016 about six months before the presidential vote fbi director james comey told white house officials that his people were watching trump's campaign. so the spying was okayed by comey's political masters the white house knew it be. that's the bombshell.

what were they going to do with the information the spy or spies dug up? frankly, it reminds me of the irs scandal on a much bigger scale. during the 2012 presidential campaign the obama team used a machinery of government the irs, to intimidate and suppress the conservative vote. in 2016 it sure is looks like there was a repeat performance machinery of government this case the fbi -- was used to spy on the administration's political opponent. this is a very big deal. as we said at the beginning, with it is beginning to sink in. a cbs poll cbs -- this week found a majority now believes the moore investigation is politically motivated. that is a turning point. welcome to the show. "varney & company" is about to begin.

♪ [laughter] match to the a french word -- grand, production -- a production team -- i am leading with the royal wedding. and the news that prince charles will walk meghan markle down the aisle. fellow american with a british accent ashley webster the details. ashley: welcome to "downton abbey." the big day is almost upon us, and, of course, as you said prince charles will be walking meghan markle down the aisle. it is always been a back and forth somewhat of a soap opera on whether her father was able to make to the u.k. he couldn't he's under stress some say because of the attention he paid the paparazzi he's not going. whatever he did have a heart operation and so prince charles stepped in and people saying great move. and then alter -- , obviously, all eyes tomorrow on windsor castle where this --

event will take place in st. george's chapel which by the way was put in place and 1350 and home to many famous people are buried there including henry the 8th and james seymour. it really is -- tomorrow is may the 19th -- yep may the 19th 1536 and berlin executed beheaded so tomorrow i think is the 400 bring that up. prince william will be going harry's grandfather will be there and hip surgery. but before we move on key question, i will watch, will you watch? will you watch? i will. i'll be looking at that cake. and producer -- why? why? tune into the fox news channel 5 a.m. eastern tomorrow morning, for live coverage of the royal wedding got to be there for because i'll watch. quick check of the futures

market we're on a financial program. look at this we're down ever so slightly kooses the board when we open this friday morning. now look at this. the yield on the tenure treasurely 3.11%. moving up. rates moving up. look at the price of oil -- moving up. actually this morning it is down 10 cents but you know very close to 72 dollars per barrel. the price of gasoline moving up. $2.99 per gone that is your national average. now, conform stocks in the news this morning. start with nordstrom sales fell short oh are they taken to the cleaners by investors. the stock is down premarket 7.5 lower. campbell soup not so rosy forecast for the future and -- the chief executive abruptly story taken down 8% back to 35. now, and i think yesterday actually was the one-year

anniversary the probe one year into is it. the russia probe, russia call it is the greatest witch hunt in american history mr. trump accused the obama fbi a he put of spying on his campaign and joining us now is andy biggs republican from arizona. that to me, sir, is a bombshell. because the fbi did spy on an opposing political presidential campaign. i think that's incredible. that is outrageous what say you? >> i say that's an thet call to everything that we stand for as americans. i mean, it's contrary to law and contrary to the notion that we all subject to the law. and it indicates corruption for political purposes in the previous administration at the highest levels and it was done to basically recalibrate our electoral system to one party system and that's outrageous and beyond beyond outrageous and criminal in my mind. >> what do you do about it?

>> i've been pushing for a year to end this investigation. i thought it was -- basically corrupt from the very beginning and being done for political purposes. look, they're not trying to get at truth here so what we need to do is we need to basically quite frankly we need to pull the plug. i tried to defund this in the last -- that big mess i was trying to defund the mueller investigation. that's the first step is to stop the investigation the second step is we need to bring in a second special counsel to investigate the investigators. that's what needs to happen here because this is -- this is beyond the pail. >> well the peril investigation is about -- the clintons, the fbi, rogues within the fbi and justice department that's a parallel investigators. i'm waiting for the inspector generals report on that side of the deal because that, that could be just as explosive as this report on spying on the trump campaign. >> well exactly.

but it's part to the same they think trying to create one party dominance and never move to the other side. but when you look at that investigation, inspector generals investigation got to draft report but he's given it to department of justice to vet for pete's sake to light of rod rosenstein these guys are vetting it that were probably this, spoken hub of the previous concealment of the hillary clinton deed. this is the problem. but you know congressman, i know you're pushing to i could this and pull a plug but voters are really getting fed up with it. i mention at the top of the show the cbs poll -- clear majority now believes that the mueller probe is political and politically motivated. if he loses the political support of voters, that thing is done. >> well it's done but it's not -- it may be done de facto but he's not going to quit. he still getting money he's still investigating and probing all yongd his scope and he's

being -- not going to quit until he's fully delegitimatize the trump administration as much as possible or try to get trump out of office and that's really it was the purpose of this whole thing from the beginning. >> congressman biggs appreciate you being with us today on a very important day. much oblige to you. let's get to your money. [laughter] it is a good question. you notice this? who uses cash to pay for anything anymore? well, you know i don't use it. so many people do. bugs me when they do because it takes longer in line. you try paying for mcdonald's with a $20 bill. >> coffee line when you're in the driveup. >> our next guest he's leading up on credit and debit card companies visa mastercard discover market watcher is with us with sba from financial. sir, confirm this for us. you're loading up on credit card companies the thereof because we're not using cash. does that mean that because

we're not using cash that we're all going to plastic. >> there's a tidal wave going on and we're starting to see it and probably third inning but people are going to use less and less cash. plastic and -- mobile are how we're going to start paying for they thinks an we're seeing it more and more. >> you see a market opportunity as cash or declines from plastic increases you're buying what, you're buying visa mastercard, discover that's what you're doing? >> definitely. visas the big elephant of mastercard is -- a little different because they're more international more cross country. discover is value play in that part. >> what kind of gains do you expect for those stocks? >> well, we expect their double digit earnings growth probably revenue growth and probably low 20s earnings growth over next few years we think stock should

match that. they're consistent and shea should continue to do well. >> had is your favorite again did you say visa? >> visas are number one holding at the funds? >> okay sorry to cut this short because that's a very interesting story. very interesting to find out to cash in on cash. so thanks for joining us, sir we'll be seeing you again sure. this could be a game changer for anyone who suffers from migraine headaches new drug injection you take it once a month going on sale soon. dr. siegel will tells how successful this is. "forbes" restarting production of f-150 pickup truck making again after two week pause. we're going to take you to ford's deer borne plant to make them again and white house getting in on yanny versus laurel craze posted video to the web yesterday with their answer to the question that is -- everybody is talking about this. is that computer voice saying i

canny or laurel? this is the -- yanny you'll hear president trump's answer it was a good one. later this hour. one of the great mysteries is being sold -- 1971 a man claiming to be dw cooper took 200,000 and parachuted out to freedom. one man is coming forward saying he knows who db cooper was and reveal that identity on this program, next.

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shooting at trump national resort the golf resort in florida, ash details. >> very strange ran into the lobby of this massive hotel, disposal resort at a about 1:30 this morning. american flag draped it over the counter and started shooting into the ceiling. at the same time it was calling 9-1-1 what was all of about he was trying to lure officers in, his plan according to authorities it was to ambush them so when police showed up it

turned into a gunfight. he was wound the suspect not killed taken into custody. we have no idea what the motivation was. but he's just been identified as 42-year-old odi area in which the golf reso the is held. but very strange, but no one killed a police officer did break an arm in all of this but motive for it we don't know. >> got it. something very different now. in 1971db cooper parachuted into wilderness took with him 1,000 and never captured next guest say he was db cooper's best friend joining us author of db cooper and me lauren, karl welcome to the program. right from the get-go who was he and why did he do it? >> did it for money. and a name was walter reca and you knew him. >> very well.

and after he took the money did you -- did you know that it was him and he got the money? >> i did. oh so only now you're coming forward i take it now he's dead. he's dead. that's correct. tell us how you knew him an what you knew about him. in 1957, he called up a friend of mine and he wanted to learn how to free fall parachute he had had been in pair trooper done parachute but he wanted to learn how to free fall and that means -- [laughter] so he was figuring out how -- to back of the plane. >> that means you go up high and you're not on a static line but jump on airplane and you get stable and -- you can do many things today but back then you can fall free and stable and make a good landing. >> so if you knew him after the -- he got the money, and did he

live well? i mean what did he do with it all? >> the money was his bank account. he did not do this to have a pile of money and go out and party. it was to raise his family to be able to fix his car when it broke down, to be able to buy his kids clothes and food and things like that. >> did he talk to you about how he got the money? >> certainly. >> did he describe jumped out of the back of a plane and what he did after that? >> yes. yes, he did. >> what did he do? where did he lantd and how did he live and where did he live? >> he landed -- about a mile outside of town in washington called kliom he lived in heartland, washington, probably about 100 miles from

where he landed. i'm afraid we're out of time karl, i promise i'll read the booing that's one of the mysteries and karl, db cooper and me good book we'll read it and we'll have you back again. thank you karl we appreciate you being here. >> thanks very much. smg how about that -- [laughter] well, we're a financial program but that's all about money. so -- that was a great mystery. futures majority down slightly for s&p and nasdaq now this -- the pope getting political again. taking a shot at capitalism offshore tax shelters and money in general. we have details for you, and a comment from elizabeth macdonald after this. so, you guys have recently started dating...

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i'm 85 years old in a job where. i have to wear a giant hot dog suit. what? where's that coming from? i don't know. i started my 401k early, i diversified... i'm not a big spender. sounds like you're doing a lot. but i still feel like i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today with td ameritrade®. >> slightly higher for dow slat to slightly lower for s&p and nasdaq forked opening bell how about ford motor company no change for the stock they are by the way restarting the production of f150 pickup trucks today. well anything more? >> that's good because they reckon they are going to lose about 15,000 trucks with one week down. but there's something very interesting it was the fire that got into the supplier -- company right, that was it.

that was a fire -- they managed to get into the building to save and order tools he used to make the ford truck one was 80,000 pound piece of machinery that was pulled out of that fire. put on a plane and flown to a factory in england and knotting ham where it was took 30 hours door to door to get it up and running so they could start producing trucks again. remarkable. a pretty good start. salvage ared it we'll take that. okay. again complete change of subject, pope francis taking another shot at capitalism, in fact, he is taking a shot of all kiengdz of things he wants more intense regulation of the market worldwide. and this comes out of -- the office of doctrine. so you know what he's saying he's said this in the past one global public authority, like a one global central banker to regulate markets and let me back up he's calling offshore tax haven and derivatives evil saying their predatory and

speculative imagination of the dung heap of evil meaning money and he said derivatives are economic cannibalism what he leaves out yet to acknowledge is north korea, venezuela, cuba, the evils of socialism never is criticize it and watch this world bank says within a generation's time a billion people have been lifted up out of poverty due to capitalism and free market. >> it is a rism argument and i use that pun intentionally let's face it vatican intang one in the world that's so in secrecy we know investigated twice for money landering so for person on guilded hill to tell what you say to do with their money when we guard their own is a bit rich. >> free markets have boosted a lot of charitable donations to the catholic church but that is about caring and a the poor we get that. i was raised catholic but what works and what doesn't? we have yet to see that pope raise are the debate. >> number one this document

approved personally by pope is part, with came from the catholic doctrine the office for catholic doctrine do we believe that authoritarian social schism part of catholic doctrine i have a problem with that and number two, i don't to see politics when i go to church on a sunday and i'm a believer. i go. i don't to hear politics from the pulpit i don't to hear it. so save my soul, not my vote. please -- >> render into cease -- >> isn't church all about money? >> not being facetious how does it exist if it wasn't for the money. >> you're about to quote -- we with interrupt -- the root of all evil. first book of timny chapter 6 money is root of all evil. >> that's the wrong quote. >> don't get me -- we're almost going to open the stock market okay -- whether pope approves of that or

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all right we've got 15 second to

go before we open that market this friday morning. closing out an interesting week, we're expecting a modest gain for the dow industrials. in five seconds time, we're going to do the count down, three, two, one. we're down seven points 24,700 is where we are. flat to slielgtly lower, that is how we've opened and number winners to loser that's the dow industrials down a fraction as we speak same with the s&p 500 down a fraction -- i think it is pretty much the same with the that is dak home of technology, that's down a quarter percentage point a bit more. what's it all about when it comes to interest rates this is the number to watch, 3.09%. it was 10 minutes ago 3.11% so we come down from there -- and that just a little bit but we're pretty much flat for the stocks as we speak friday morning who is with sme?

elizabeth macdonald ashley webster, christian is with us today and so too is jeff seeger i want to start with interest rates that yield on the tenure treasury is at a 7-year high. jeff, i don't think that's a big deal do you? >> if it was still a low rate but keep in mind, stock investors a lot of the stock investors are bombed investors that were starved out of the stock market out of the bond market went to the stock market for yield, and they're not used to volatility. so when we get volatility they're going to be ones that head to the door first so -- yields rise. how many people who have got money in the stock market are about to sell their stocks and jump into bonds for yield to 3%? >> i don't think 3% is the -- what's going to compel them but i do think as rates go up and i think it's healthy for -- for bond yields to increase and interest rates to go up, there's going to be more of a -- of a push to go into the bond market. let's face it, a lot of retirees

are too heavily allocated in stocks because they couldn't be in bonds. christian is it a big problem at 3% yield? >> yeah. i think it could be. do you think a lot of investors will switch from stocks to a 3.bond yield? >> i don't think so. but i think the issue is here how much higher is it going to go what's the pace so we've broken to three but move to three and a half to four that's where the pressure comes on. are we going to 3.5%. i don't think so i think we're going to bounce lower. >> what is tipping point yes 3% and 4 and people say you know what that's the pretty good deal. i would say a year ago i would say it was three and market has been dipping its toe and it is becoming more and more kivel so i think about 4% is where it sits now. tipping can we have some perspective the average was 7 pbt from 89 -- we're spoiled and exactly. i think so too. well said lizzy. fine, fine --

stuart: wall street journal says it is over -- >> and this rereported it yesterday -- mortgage rates at the highest level since 2011 as that tenure has gone up so when you see reaction in the market homes going into contract right now. are -- really going in fast a 36 days it has taken that's the record since 2010. we haven't seen this speed of contract being closed in like this in eight years but we're talking realtor.com is saying 5% by end of the year and federal reserve could raise rates up to three times next year. so people getting across -- >> jumping in now. to get ahead of what might be a 5% -- lock down that 30 year quickly. yeah. i must just do that. [laughter] here's one for you. kroger -- teaming up with a british company to boost their online shopping operation i guess you could say. is that a good strategy for

kroger? >> i think it's a brilliant strategy kroger needs something to kind of get them into modern era and online grocery delivery is probably the future amazon bought whole foods to try to expand that marketplace. kroger needed to do that and who they are doing this partnership is a leader in robotic and warehouses and online delivery reown it in our online retail orer been a great performing stock. they'll bring that british technology into america to help them with their online and delivery stuff out of kroag ors in america. >> that's what they're doing. >> fist contract in the u.s. so they're stealing british technology -- >> yes. british love their pay and home food deliver it rei. >> time for a tariff. brits have original takeout which is fish and chips. you know that? >> and then the newspaper. moving on. stuart: where are we on that market i'll tell you now we're dead flat -- we're actually down a half point. up 1 you get a point dead flat. nordstrom their sales very disappointing and stocks taking it on the chin this morning down

nearly 8% that's nordstrom same with campbell soup looked down to future it wasn't a rosy forecast and chief executive retired abruptly wow down 10% on campbell soup. where is price of oil has been close to 72 dollars a barrel. this morning it is 71.52 and price of gas keeps going up we're at 2.91 that is the natural average now up 13 states and the district of columbia, we have an average price for gas of over $3 per gallon. all right. microsoft sound the trumpets go ahead -- go ahead -- a little late but i'm glad you got there. microsoft close to 100 a share. i do own a thin sliver of it. are you going to reign on my parade and tell me that it will never reach 100 bucks? >> no i think it is going to. i think there's some very interesting initiatives gong on with double digit earning growth going into the next quarter. i think they could take it we'll see. >> it is good this guy christian

you're a good man you're going to be back. what do you hit 128 to be the first one trillion company so they could be neck and neck but watch this. they got that cloud contract with 17 intelligence agencies. and they're trying to get that pentagon multibillion dollar cloud contract as well they're in running with amazon about that so you know i'll tell you the cloud is business over there is really -- >> hold on one moment jeff seeger is about to opine on microsoft if he's negative you t of here. >> no. most shockingly i'm not going to be negative because -- microsoft has been impressing me with how they're picking up -- that's not assess and that's not easy and how they're picking up steam with amazon web services amazon still owns that sector. but you're looking at a sector that's doubling almost every year -- and microsoft is proving that they're not old tech they're very much new tech and they deserve to be where they are. >> you're right. stay here for a while let's see

if you've redeemed yourself when it comes to j.c. penney put that on the screen please. j.c. penney at 2.77 a share. i believe mr. seeger you recommend ared buying that thing back be at -- $5 a share. >> actually it was six -- [laughter] that's not say -- so what went wrong? what went wrong? >> it's the i love this treasure hunt model that t.j.maxx has j.c. penney, the management had a chance to execute and they dropped the ball. and they didn't execute on treasure hunt which means -- catering to the bargain hunters that come into your store, they didn't execute and they're pay the price now. they've disappointed me and it was a point that i tried to make time and time again to them and they didn't execute now they got a deal with the consequence. >> off the hook. now -- george -- arch billionaire fame is betting big on tesla bonds what's that

about? >> doesn't get any trumpets i hear. one billionaire helping out another source used to have tesla stocks so did last yore and find out he bought a $35 million stake in convertible bonds on tesla in the first quarter convertible bonds to convert them into regular shares you wanted. but certainly much needed money for tesla at the time when those heavy selling pressure at the end of march because of problems with the model 3 sedan. so comparatively a tiny bet not that big of a bet did you -- >> and many it is another reason to dislike tesla. i'm surprised that george has any time to even invest in anything since he's funding -- >> goldman sachs says needs 10 billion cash by 2020. >> i call that a negative. and stock is still at 2.83 disney world -- now serving alcohol at every sit-down restaurant in the magic kingdom for all of those kids.

really happiest place on -- [laughter] right. stuart: i find that interesting walt disney up $104 a slair. >> hazard for park workers there i'm not sure why they made this decision. stuart: alcohol is profitable for a three minute rise. >> rest are selling alcohol here since 2012 some have but now they all do. stuart: all right. i've got 401(k) millionaires the number thereof at a record high. >> doubled over last decade one in six 401(k) out of fiddlety saying it is 170,000401(k) millionaires what's the trend here, people including millennials are seeing that old standard pension offering going away at company and plowing into 401(k)s. >> unlitigateed good news that's correct. >> there's not just fidelity but

one in six has a million in the 401(k). and 157 them at infidelity. but keep in mind a lot of investors like i said in the beginning of the segment a lot of investors were starved out of the bond market so a lot of these -- 401(k)s preretirees are too heavily allocated in stock to me ting this is the perfect time to scale back now that they made their money to scale back and be a little more conservative. please. >> tell you i think this could be a hidden lever in midterm elections because have record high balances are going to look to trump and see what is stock market done since trump have been out so ham tearing economy. talking about what been happening in the stock market is going to be good. for the republicans in the upcoming election. >> astonished 1 in 6 out of 401(k) hard to believe but there you go it is that time i have to say good-bye.

gentleman thank you so much for joining us. check that big board modest gain 17 points up for the dow industrials now this. the mainstream media jumps all over president trump's animals comment. took him entirely out of context. now, the president is calling them out. find out exactly what he's saying we will tell you after this. hi, i'm bob harper,

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if you can't afford your medication, astrazeneca may be able to help. >> i've got to check the big board first of all we're up 9 points okay not much of a gain there you have it right there. bj's wholesale they're going to do an ip organization tell me more, please nicole. >> well it's the second retailer of the year to lift and we're watching for begs with that get it later on this year but bj wholesale a public company taken

private in threrch and back right here at the new york stocks exchange and easy bj wholesale which is, of course, is around the nation around for over 30 year and it has 215bj club and competing against costco and amazon both costco and amazon are higher this year and see how it is welcomed it should have a value of roughly 2 to 3 billion. >> 2 to 3 billion we'll take it. thanks very much nicole now i have a new number and just how much there is in student debt we know over a trillion i have a new number look at that. bigser than economy of russia. it is bigger than credit card balances that we have right now. what is happening college tuition costs have gone up 400% over the last three decades so -- you ever got to say what is wrong with the -- or it this is model for colleges gouging middle class families here. look at this stuart new york federal reserve has found that the -- college industry had is built i think on hotel industry --

they whenever they raise federal grant money given to colleges, the sticker price of tuition goes up as well so they're taking from both ends and we with always talking a bailout of the college industry they're going bail out every year 134 billion in federal aids for grant money so you know -- i'm just wondering when congress is going to step in and help out middle class families to say you know you fat cat academics you're hurting people request tuition hikes. >> that's what i'm thinking. stuart: somebody has to help these students. shouldn't be the taxpayers or d >> tax exempt by the way. >> breaking news the president tweeted this moments ago, why isn't disgraced fbi official andrew mccabe being investigated for the 700,000 crooked hillary democrats led by clinton best friend telely m. under fbi investigation that they killed -- gave to mccabe's wife in her run for office. and brought the case on clinton.

larry o'connor with us washington times associate and editor and wnl radio host okay larry i know you're only just seen that. >> everybody's pocket buzzes when president tweets here in washington we always it is awkward. so -- >> this goes back to what i was saying rather top of the show we have a bombshell developing here. because now it appears that the the fbi spied on the presidential campaign of donald trump. haven't heard anything like that before. >> where's the outrage it is shocking to me you would think all of the broadcast networks and cable news stations who have given endless round tables talking about a porn star and attorney you would think they would give a little bit of time saying wait a minute, president obama just spied on hi political opponent that's remarkable and this mccabe tweet is very interesting you know the president is right. terry gave 700,000 dollars to the campaign fund of andrew mckib's wife while he was overseeing the investigation into hillary clinton's e-mail. now, the reports are that the npght or tore general of the

justice department has now finished his investigation into this -- this very, very complicated investigation and to hillary clinton's e-mail address or e-mail servers, you wonder if the president has had a -- heads up on what's in there because why would he take this one item and tweet it out today out of the blue? i wongd per he has inkening of this report. >> that's a good thing to come. now this for you nancy pelosi going after the president or for calling ms13 gang members animals. yeah are. here it is -- sarah are huckabee sanders is sarah's response roll that tape. and manifestation of why their policies are so inhumane calling people animals is not a good thing. >> this is one of the most vicious and deadly gangs that operate by the motto of rape, control, and kill. is the media and liberals want to defend ms13 they're more than welcome to.

frankly, i don't think the term that the president used was strong enough. >> well, larry, the media took this entirely out context they e did i think you're being generous by saying they took it out of context they lied. it didn't take a whole lot to look at what the president was really talking about here instead media and nancy pelosi chuck schumer they said he's calling all grants animals. that's very insulting. but then when you come back double down and say well even ms13, you shouldn't be dehumanize member of ms13 good god stuart these are the most vicious -- vile, corrupt, horrible, animals i'll go ahead and say it. that walk our planet and -- for the democrats you know, i was told there was going to be a blue wave in november. i have to tell you if this has their plan to present ha this week iran last week and now to try to, you know, come to the defense of ms13 gang members i think republicans are going to look okay in those -- >> wonderful, i think it is political for november, for the

republicans against the democrats. there you have it. larry setting up. yeah, well said thanks very much larry see you again real soon. wants to get a word in if m >> one of your viewers tweeted animals don't do to other animal what is ms13 gang members to. to be honest with you look at gang he beens. stuart: and nancy pelosi today i saw her defending the humanity of ms13 gang members. >> good luck. i suppose they are -- liz: or for the midterm roll it up. stuart: fda approving a drug that could help migraine sufferers. cost about $600 a month, though, and it will be available at your pharmacist within a week. dock siegel on that one. he's next. with a level of protection in down markets. so you can be less concerned about your retirement savings. talk with your advisor about shield annuities from brighthouse financial- established by metlife.

>> attention migraine sufferers the the fda approved a new drug that may offer some real e hope. doc siegel with is us now. first of all, it's an injection i believe, right? you did it once a month. give me the success rate. >> it's excellent. it's very, very high success rate in the two to three million migraine sufferers that have severe migraines there's 30 million migraine sufferers in the united states but stuart, the problem is, that stuff we have on the market now makes everybody sleepy, it makes you

drowsy. it's got all kind of side effects this had none. this had none compared to placebo no side effects whatsoever and ill tell you why, the science is very exciting here. because we've been studying migraines now for decades and we have figured out that migraines involved in the nerve in the face and guess what they secrete a peptide part of a protein and it's on a very microlevel and we figured out that if we can block that protein peptide that particle we can decrease my migraines this is first time we've ever had a drug that does it you get a shot once a month that is effective 7,000 a year to change the course for migraine sufferers one of the number one causes of disability in the world people stay home. >> sure hay do. and this one, this particular aim that is called the general name and in partnership with nevada putting out. 600 bucks a month will insurance

concern -- 6,000 a year and will insurance cover it? >> it's a new model it's a big challenge isn't it? because it's not the same thing as daily pill. i predict that insurance will cover it absolutely. it will take a while for them to accommodate it. some people said it is hormone l, neurologic but it turns out that when this peptide is released it die lites blood vessels and agitates the nerve. >> there's a fill going on the market soon or on the market now. to mitigate opioid withdrawal symptoms is that correct? >> yes, it is called loosemira approved for two decades already. first here in the u.s. >> opioid addict i go cold turkey and get dreadful symptoms

off the opioids, i take this pill and i don't feel bad. is that right? >> 100% right stuart because when you have open i did withdrawal you release one, this blocks in the brain and so you don't have the vomiting, sleeplessness anxiety so compare it to people who didn't get it and stayed off opioids effectively over a couple of weeks. so it worked to get you off. it works to keep you from being afraid of the side effects so that you'll get off. i think it has to bed used with drugs where they're replacing the opioid with with something but again somebody came into the er to get rid of withdraw symptoms and racing back to opioid this will prevent it. >> we like doc siegel. great approvals from the fda this week. thank you so much sir. this editorial meeting at 5:50 a.m. everybody what is to be there if i asked how many people will be watching the royal wedding tomorrow? out of 12 people only 3 raised

their hands. i don't believe it. everybody will be watching -- that is my take after this. [laughter] way too often... then you might have a common condition called dry mouth... which can be brought on by many things, like medication and medical conditions. : : to soothe and moisturize a dry mouth. plus, it freshens breath. biotène. immediate and long lasting dry mouth symptom relief.

on may 19, 1536, and berlin was executed. she was henry viii second wife. harry, as he was often called, was on his way to become the most infamous monarch. this saturday harry will marry megan michael. there is absolutely zero connection. a massive worldwide audience is guaranteed. i think i know why. first, for the rich monarchy this is a very unusual match.

meghan markle is biracial, divorced an american. prince harry is breaking the mold of royalty every which way. second, this is the very end of the martin elizabeth ian era. people want to see what's in store for what is europe's only important monarchy. the americans have an interest in the royals they kicked out all those years ago. as in the worldwide interest the result of this being a modern-day fairytale. a romantic story with all the pomp and circumstance. megan is transformed into a princess. you had to be totally unromantic to turn away from princess megan. what you gonna do? watch the weather channel? i don't think so. i asked a show of hands for who would be watching. only three people out of 1 12 raised their hand. i don't believe it.

i think our news team was embarrassed to admit they have a soft spot for american royalty. buzz. >> i got buzzed. i'm off to a college in connecticut for the graduation ceremony for my youngest daughter. it will be an anglo-american weekend and i have a sneaking suspicion it will be for you too. the second hour of "varney and company" is about to begin the history is not the role wedding, it's me getting buzzed. steve hilton is in windsor. we will talk about america's fascination with the role

wedding coming from a couple brits. >> i'm amazed at the interest, the level of interest in this country with what goes on in the uk. the royals, the monarchy was kicked out under mad king george. >> just coming out, another tweet from president trump. reports there was indeed at least one fbi representative implanted for clinical purposes into my campaign for president. it took place very early on and long before the russia hoax became a fake new story. if true, all-time biggest political scandal. >> because there's no charge but we have the obama administration doing counterintelligence buying on the political -- it's unheard of. to your point, you noted earlier the cbs news poll

shows it was publicly motivated. that's up from 48% in january. democrats are not even talking about in their local districts. they have that big meeting. >> rudy giuliani said if this is true then it makes the muller investigation completely illegitimate. >> we want to get to the bottom of it and get the report out. >> to me the bombshell is that the administration, the machinery of government was used to spy on a political campaign in a presidential election. that's huge. let's get to the market. the dow industrial is down 13 points. 24700. caterpillar and boeing are helping the dow industrials but not to the plus side. big tech names, look at them, microsoft leading the dow,

beth gaynor of all they'r the dow stocks. right now it's only up about 30 cents. morgan stanley says again it could be a trillion dollar company in a year. but if microsoft hits $130. share. right now it's at 96 and change for the price of oil backing away from $72. barrel. back to 7134. now this. one congressman is urging technology ceos to testify. come on and protest the five before congress about privacy. this congress and met with twitter ceo matt dorsey behind closed doors. greg walden is with us now. you met jack dorsey yesterday. did you convince him to come on in and testify? >> he seemed very open to it. he said so publicly in the past. here's my deal. we have mark zuckerberg come and spend several hours before the committee, i think he did a good job explaining what the company's all about and public

policy issues, the americans have concerns about. we are going to write public policy in the space. we would benefit from these ceos coming in for my point is coming before you are under some investigation or scandal and help us better understand how your platforms work, what your goals are, what you're doing to protect privacy and help us have good guidance in terms of what that policy should be. they go around the world, they go to conferences and editorial boards and i talk about all these things pages come talk to the representatives. >> the trick is, on the political side, don't destroy the business model of social networks, but do improve somehow the privacy standing of individuals. you want them to come in and say this is what were doing. >> i would rather have a light touch private-sector appropriately respond to the

american consumer rationally, reasonably, thoughtfully, truthfully that's the way should be. americans want congress to act in the space. they don't want to go back to 1934 law governing everything but they do expect the entire internet ecosystem to live under a set of rules that are transparent where they have more authority over their own data and how it's used or not used, they want more control. some of these platforms will say we give that to them. well, you is so well-known that he can find it. it's not always very transparent and, and, and. i would like them to come in, i think they will come in, it's an open invitation and the piece we wrote was in the chronicle recently, i've talked to some of these in the past, this is the time, come talk to us and let's get this done right for the benefit of the american people in these great platforms where this innovation occurred in america. yes, sir. greg walden, thanks so much for joining us.

>> the market is pretty much flat this morning. david, you told us about a month ago get out there and put your money into some exxon and into chevron. you are dead right because you said that when exxon was around 77. now it's low '80s? >> i said on your show at 77, we started buying it heavily at 72 and now it's in the low '80s. chevron has moved up even further and i want to add to it the oil and gas pipeline are up 16% in the last month as well. that's not counting their big dividends. >> you are playing the energy market. you're playing the run-up in the price of oil and presumably you expected to stay in the 70 or $80 range. >> i don't, i do expect it will but i don't care if it does. in other words and very bullish on these names of oil were to drop in the 60s and move up in the 80s. particularly on the pipeline

side. we are agnostic about the oil price. we think it's a natural gas play. producers are producing so much that the trump administration is putting regulatory relief on and they don't have the pipelines to move it. the oil prices 15% lower in the basin because they don't have enough pipelines to move the oil downstream. >> it's a giant oil lake under the ground. >> they've got the oil, they can get it out but they can't move it. >> that's put it on trucks which cost more money. >> give me the name of a pipeline company which is prime to exploit the situation. >> enterprise products, epd is prime to exploit the situation. both premium and the whole natural gas story being able to export natural gas. we also like buying a basket of the names to get some diversification but they are great, great name. >> i take it you already own epd. >> yes we do. >> the other story is rising interest rates. we are at 3.1% on the ten year

treasury. that doesn't seem to be a big problem. i remember the days when i was 15, 16, 17%. >> it's definitely not a problem but i don't like the analogy of what used to be in the late 70s because there is a different p/e ratio. yet 815% interest rate but you had a market trading at higher earnings. we have a much higher interest rate that would be problematic for stock market earnings. the difference is i don't think were going to a much higher interest rate. no one can come up with any rationale why it would. slightly higher we move from tuna half to 3% because we have great economic growth. our we facing inflationary pressures like when rates were that hi, not even close to it. the forces are alive and well and i think effectively you will see rates get up to three and a half but i don't really think they will. three and a quarter is possible but there's some sort

of spot at which the market knows this is a healthy interest rate. [inaudible] [inaudible] there's probably great pricing power. if the raising prices and keeping up with it if there is that upward movement. that's the whole point you can defend against it and as investors we get growing dividends, if you're stuck with a fixed rate and then inflation and interest rates moving higher than your hurting. we want to grow with those rising rates. >> the ever articulate david, things are being with us. thank you david. we've got a big hour coming up for you. real wedding tomorrow steve hilton is in windsor where the event takes place. i want to know whether britain has accepted meghan markle as one of their own. she will be a princess.

beth later this hour. and tesla, losing executives, another federal investigation and reports from the 10 billion cash just to get through the next 18 months. that's just this week. tech watcher, he's been all in on tesla forever. is he still with them? we will ask. the president introduced the idea back in march. that was that the u.s. should create a new military service dedicated to space. congressman's been pushing this idea for years. tell us what we need to do, what will cost about the space wars will do. "varney and company" continues.

going nowhere friday thus far. we are up a mere 22 points at 24738. nordstrom is way down, nearly 10% lower. their sales fell short. campbell soup, a five and half year low for that stock. not a very rosy forecast. the chief executive retired and it's down 11%. packaged food company, the rest of them down on that news. it's all fresh these days. this is what president john said about the possibility of a military space force. roll tape. >> we are actually thinking of a sixth and that would be the space force or does that make sense? you probably haven't even heard that but i'm just telling you know, this is perhaps, were getting very big in space while it's militarily and for other reasons and we are seriously thinking of the

space force. >> you think he surprised his audience. colorado congressman is with us. you have been proposing this for many, many years. what would a space force do? >> we need to make sure space acquisitions are expedited where they go faster and go cheaper. the intelligence community already is doing that what is space acquisition. >> that's buying the satellites exquisite billion dollar plus platforms that do a great job in space but they are very vulnerable. potential adversar adversaries know about our vulnerability and their finding ways to attack these platforms. we need to make sure they're well protected to make sure we

think about alternatives and small satellites in addition to protecting the larger and vital platforms we already have in space. the whole premise needs to be cheaper and faster. >> i'm thinking more in terms of attack. is not to defend the satellites we got and defend new forms of satellite but who are we going to attack? truly that's what a space force is for. isn't that what you've got in mind. >> we have great offense of capabilities. we want them to know that. they are not nearly as reliable as we are. forgive me for interrupting. i'm interested in this. can you imagine where we've got laser weapons and force. >> i think our talking about it in this time is using lasers from earth to space. our adversaries are certainly working on that. we need to make sure on all of

this cutting-edge technology we are as the answer they are. we are making real progress in directive energy lasers and offense of and defense capabilities. we are more reliant on space than anyone out there. >> , to the going to cost. >> this year we appropriated $8.7 million for military space. that's not including the intelligence classified side. next year, 8.7 billion is what were asking for the house for this coming fiscal year. >> is that enough to get a space force launched? >> it's an improvement over the status quo. it's not enough in my opinion but it is a huge step in the right direction. coming up, ford restocked its production of its f1 50.

there's a plan to get one of the plants back up and running. we will have that story, next.

the price of oil had been approaching $72. barrel. it's down 14 cents now. gas keeps going up. the national averages close to a four-year high at $2.91. gallon. ford motor company resuming production of the f1 50 after a fire in michigan. this is ford's best vehicle for best-selling vehicle. jeff is in dearborn michigan.

how do they get things back up and running? >> it's a fascinating story. we thought is going take a long time to look at it. you see the f1 50 caps on. now there about ten days down. essentially it's a piece that holds the radiator on. what they had to do is make out with a huge die which is a big mold that you press this part into. that weighed 87000 pounds. they had to get a russian cargo plane to bring that to a plant in england where they continued production because that plant was still up and running and now they fly the parts back on a 747 back here to dearborn.

it's a crazy thing but they got it happened pretty quickly. they were only down for ten days. major wins. >> can you tell me how much that delay cost ford motor company? >> it's hard to say but in terms of production they make about 66000. if you extrapolated out, they may have not made about 21000 of these things. look at that. that's the sealing liner and those guys look that up in there and twisted up in there. 21000 lost but they think they can make that backup with some scheduled downtime if they work through it. it might not cause the many sales in the long-term, but it could've been a lot worse. >> it's a great job to get fixed so fast.

>> thank you. we will see you later. president trump is being called out for his comments regarding to animals of the ms 13 gang members. we'll have more on that. and another federal investigation into tesla. a tesla bowl next, on whether he has changed his tune. ♪ ♪ ♪ ♪

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♪ >> paul mccartney wrote that song when he was 16 or 17 years old which shows remarkable future vision. check the big board, we are up 40 points, 24,460, big tech names, microsoft up very nicely, alphabets up, facebook, amazon and apple down a little bit. tesla, there are so many bed headlines for this company, the chief of engineering takes a leave of absence, the investigation of the autopilot system after three crashedes, goldman sachs says they need $10 billion through 2020. our next guest is a cheerleader for tesla, and my question is after all the negative headlines, i have asked you this before, are you still a tesla pool? >> we ask ourselves should we say. every day and the answer is yes, we are still. here. we are having a critical eye at

this. let's take a couple headlines you mentioned, the goldman sachs story that they will need $10 million by 2020. what is implied in that is they are going to run out of money but that is not the case. they can ramp from 100,000 car production today which is what they are at to 1 million based on the infrastructure they have, that $10 billion is for them to open a new factory to build a lower-priced suv and a factory in china to build batteries. they can have a bigger business without spending $10 billion. that is one piece. the autopilot, just understandable politicians would be meddling in this because it is good fodder for political gain the end of the day it is clear with car and autopilot 4 times less likely to give you an accident than one that doesn't.

we are still bullish. stuart: what they can't afford is ongoing and continuing production problems with the model 3 because if they can't produce to a certain level, they can't get revenue and they will run out of money. >> that is true. if they can't fix the production problem, last month it shut down, we talked about this in the past but to improve the line they had to make changes to the manufacturing. starting to implement something called nesting which there is no time to get into now but is a next level production methodology, they are doing the right steps by going slow at first but eventually they will get to a speed that will allow model 32 ramp and we are in the clear. stuart: tesla stock dropped below a critical level, $280 a share dropping to 279. it wasn't your fault, 270968 is

where we are. i want to talk about apple, a big investment firm set apple's service growth will likely stall this year. that would not be good news. you are a big apple fan. are you cheering apple? >> there is a paradigm shift going on into how investors, the old paradigm we were thinking about, the new paradigm is a believe the iphone will be stable in the service business, stable as well. the big cash return piece is a service. and the services grew 31% on the march quarter, and what that notice saying, the reason it jumped is a 1-time licensing

gain, to allow google browser to be used on devices, my point, in the same level, the real kicker, service has been around 10 years and the growth has been 18 to 22% excluding 1-time benefits over ten years, settling into that 18% to 22% range. stuart: if you ever change your tune on tesla or apple it would be big news. if and when it happens you are on the show. >> we are still believers to be clear. stuart: thank you very much. donald trump was criticized for calling ms 13 gang members animals. look at this tweet from chuck schumer, quote, when all of our great-great-grandparents came to america, they weren't

animals and these people aren't either. donald trump responded in a tweet saying the media took his comments out of context, fake news media had been calling immigrants or illegal immigrants animals the wrong. they are grudgingly forced me to draw their stories, i referred to ms 13 gang members as animals, a big difference. fake news got it purposely wrong as usual. tammy bruce is here, fox news contributor. seems to me, they are painting a negative picture of our president. >> in one case a video was edited but this is not like 10 years ago way you can make something up and there is no way to combat it or prove them wrong. today, immediately the context comes out, the text, the unedited video and people know who are watching that

effectively was a lie and this is where you get into trouble. if you're going to lie about that to get a few moments to attack the president it is now blowing back on the democrats because americans recognize that in fact no, our ancestors were not ms 13 gang members, cutting off heads, creating a transnational gang of sex trafficking, minor girls and boys, and the people subjected to this immediately most often are the immigrant and hispanic and black communities, where they get up kidnapped and disappear into the sex trafficking network, the extraordinarily brutal murders, dismemberment of people, the beatings of women and girls. sarah sanders said aggressively if the left wants to defend ms 13, go for it. they were defending hamas when it came to what happened in

israel. they are seeing a strange approach when it comes to matters to the democratic party. stuart: democrats have been skewered by defending ms 13. nancy pelosi is on record, i saw the videotape earlier this morning, they have humanity, even -- even ms 13 gang members are humanity. >> even when they are faced with the reality of this, the dynamic of regular people's lives in this country and the horrific brutality of this gang and where are their policy positions on improving the quality of people's lives, those don't exist, they rhetorically use their podiums to defend the people ruining the lives of people of color in the are been areas of this country. stuart: the media's and sympathy for the president is so universal it is hard to penetrate that blanket, that

shield, ordinary folks, not necessarily plugged into the news all the time they get the impression the president badmouthed a whole group of people. >> it is not true but you are seeing a change especially in the polls showing the american people understand, they are looking very pragmatically who is telling them the truth, who is getting the job done, who made promises they kept, who understands lives like mine, who really knows what is going on in my life with taxes, the quality of my life, the school system, violence, gang violence and they are making a decision donald trump was telling the truth and democrats had a problem with not being serious about policy for so long they don't how to deal with real issues as we read to the midterm. stuart: thanks for joining us friday morning. supreme court legalizing sports

gambling, we know that in 50 states. what does that mean for vegas, we ask a bookie from las vegas, in windsor, i want you to know if britain has expected megan markel as one of their own. we deal with that in a moment. ♪ i think i want to marry you ♪ look in your eyes ♪ ♪ ♪ i think i want to marry you ♪

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>> did the fbi plan to spine the trump campaign? arizona congressman told us if that report is true, it is time to stop for mueller probe. >> we will continue to push. i have been pushing for you to end this investigation. i thought it was corrupt from the very beginning and being done for political purposes. they are not trying to get at the truth. we need to basically quite frankly pull the plug. i tried to defund this in the omnibus, trying to defund the mueller investigation. that is the first step, stop the investigation. we need to bring a second

special counsel to investigate the investigators. that needs to happen because this is beyond the pale.

stuart: modest loss down 17 points, 24696. the price of gold, we have been down recently. we are down $1290 per ounce.

the royal wedding, prince harry will marry american actress megan markel tomorrow and prince charles will walk the bride-to-be down the aisle. joining us from windsor, uk, steve hilton, obvious question, have the brits accepted megan as one of their own. >> they have. where are the brits, you and ashley, we can do brits on score, enjoy the festivities, and it is interesting how much they not just accepted her but provided a boost much in the way diana did all those years ago in changing perceptions of what the monarchy is and how people can relate to it, huge

groups of people in britain, started to relate to the monarchy, precisely -- this will be a huge boost for the institution. stuart: we are coming to the modern elizabethan era. the princes, harry and when, the monarchy of the future, they will be the royals in the next decade. a good thing to have interest concentrated on them because they are so new for the new century. they fit the bill perfectly. >> exactly right. if it is not impertinent to make the comparison, in a commercial way there has been discussion about the fact that in the last few months or so harry has talked about a desire for more privacy, there has

been some comments in that case why are you having a huge wedding if you want to be left alone, why did not have a quiet wedding away from prying eyes? seems to be the monarchy as an institution led by the queen and others, how different this is for the brand they are running and that is what this is, a global brand and a huge boost. stuart: you are out of costume. in a black t-shirt, usually black and a jacket. >> there is even going to be a suit, wearing a tie here. that is off-limits. >> in st. george's chapel tomorrow.

>> i'm not invited. the next revolution from here this weekend, great atmosphere here is wonderful to be part of it. stuart: is for the wedding there will be 600 people sit down for lunch hosted by the queen and 200 of them will go someplace else, where will that be? a big party, is that what is happening? you won't be at either. >> i will be persona non grata of anything royal, they don't want me hanging around but nice to see everyone getting into it. it is intoxicating being here and absorbing the atmosphere. stuart: we will let you go and enjoy yourself, bend the arm with a couple points. >> they are giving me a nice sendoff. i don't know if you can hear the choir. stuart: we will see you soon. next time you're on the show and here in america a blazer is

required. steve hilton, everybody. tune in for live coverage of the royal wedding starting at 5:00 tomorrow morning. i am sure steve hilton will be part of it. i will be watching. more varney after this. ♪ cool. i want to show you guys three chevy suv's. the first one is called the trax, great for when you move in together. -ahhh! and this is the chevy equinox, perfect for when you two have your first kid. give me some time... okay. this is the traverse... for when you have your five kids, two dogs and one cat. whoa! five? uhhh... it's the chevy memorial day sales event! get an additional $750 on these select models. that's on top of most other offers! find new roads at your local chevy dealer. pah! thano, no, no, nah.k. a bulb of light?!? aha ha ha! a flying machine? impossible! a personal' computer?! ha!

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stuart: the supreme court has ruled states can legalize sports betting. this could have impact in vegas. great to have you with us, can't imagine this will have a negative impact on your business in vegas. >> i wasn't invited to the royal wedding, what can i tell you? i did make prince charles the favorite walking the young lady down the aisle. a lot of questions about it was a great day for old-time bookmakers like me when the supreme court, go from here. if there will be an impact, make no mistake, when you have competition and more things to

do, and that is great opportunities to help in some other states when this gets done from 12 to 18 months. i suggest in the long run it would be a plus for people in nevada. >> you export to whether states, surely that will happen here. >> we take pride in what we do. this is my 43rd year in las vegas. we have grown with the industry and so has nevada gaming control. like any other business, last year, the owner built a beautiful studio and he anchors his show daily. you must keep forging on and on. it will hurt a little in nevada but we will do fine.

stuart: a real fast question completely outside american sports and betting. when you make the point spread, a football game, do you base that on statistics and science or is it a hunch? >> everything you did say, use all of it, used power ratings, situations, and i'm from the old school. you must inject what you feel and how you feel betting will come on the market. everything you said we utilize. stuart: can i don't place a bet on the royal wedding in nevada? >> know you cannot. there are some things you can't do. we are catching up, loosening the threat a little bit, putting a bet on the wedding anyway other than watching it on tv. stuart: you made prince charles favored to walk megan down the aisle.

>> adjusted after the father of the bride said he couldn't make it. see what is going on around you and make adjustments, the his y falcone. the country is a failed state. >> the revealing story about why the military is not rising up against madero. the commanders, the guys who run the military are running the commodities operations. he is handing them the mine for gold mines and copper in the oil industry, accused of doing

drug running but the rank-and-file is deteriorating, soldiers make $10 a month, they are starving, basically leaving the military, 124 soldiers in prison in january and february. there is deterioration in the lower rank-and-file. the commanders enjoy a lot of largess running alleged scams. ashley: we talked about this anywhere from 13,000% to 18,000%, the average take-home pay is $3 a month. this can't go on. stuart: the end game is soon. >> remember the march uprising? it was led by the former interior minister when 9 of them were thrown in jail. stuart: pope francis really against capitalism, offshore tax savings, the financial markets and all things money. i'm a churchgoer, i'm a believer, not what i want to hear from a religious leader. my take on that is next.

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stuart: what is going on at the vatican? pope francis personally approved a new document from the office of catholic doctrine, railed against money, capitalism, offshore tax savings and all financial markets. he says a new global public authority is needed, a central world bank, to regulate money all over the planet. pretty strong stuff but should the pope be putting out his authoritarian socialist politics as catholic doctrine? i think not. i'm a regular churchgoer. i'm a believer. when i attend church i don't want to hear about politics and

the pope's statement is clearly political. money is the dunga of the devil he says. we should neutralize predatory and speculative tendencies, those are his words. a ticking time bomb ready sooner or later to explode. not only does this insert politics into religion but make socialist politics a part of catholic doctrine. in my opinion that is not good. i don't want to hear political lectures for many religious figure especially when those statements show lack of understanding of economics and history. perhaps pope francis is trying to curry favor in italy. a short distance from the vatican is the seat of the italian government, proposing radical and wildly impractical policies like were lowering retirement age from 66 now to 62 in a country which is insolvent and cannot pay existing pensioners little on a batch of retirees and they once

were deficit spending as well. the italian government will provoke a financial mess throughout europe while pope francis wants to bring on an political division in the catholic church. if you want to discuss money, start with the first book of timothy chapter 6 verse 10, look it up. the third hour of "varney and company" is about to begin. ♪ stuart: if you're with us you heard my take on pope francis. jonathan honing is known as the capitalist pig. i assume you have a few problems with what the pope is saying about capitalism. >> this is not new for the pope as you point out. the pope israel against the god of many, equated it with extremism, even terrorism, called materialism,

consumerism, the stuff we buy and enjoy, a false ideology and ironically he talked about capitalism as hurting the poor when capitalism helps the poor. i want to ask you if the pope was positive about capitalism would you have given your take? even more so why do you think he is so in favor of redistribution, world bank and all these as you put it ideas? why do you think if i can ask you that? stuart: those are fair questions, answer to question number one is i would still give the same my take because i don't believe has religion has to do with politics, the two should be totally separate. your second question is what do i think about where the pope is coming from? i think he comes from argentina, he has grown up in the era of almost a national socialist mentality there and carried that through to his term as pope. i think the man is utterly wrong. that is an answer to your question. hold on a second. i have elizabeth with me.

you were raised catholic. what do you think of this? >> we were talking about this, timothy one verse 6 to 10, for the love of money is the root of all kinds of evil. it is the love of it. not money in and of itself but the pursuit of it. pope benedict actually said capitalism in and of itself is not evil. it is the selfish pursuit of it. all systems could give rise to selfish greedy endeavors within the system itself. pope benedict, prior pope, was saying capitalism wasn't inviting capitalism, talking about people -- pope francis, you don't hear him criticizing venezuela or north korea. stuart: i know you will point this out but capitalism, raised 1 billion people out of poverty since 1990, make the point.

>> the almost extinction of starvation and poverty in the world has been brought by capitalism but loses puts on you, why the pope is in a bind here, self interest is a part of capitalism. when you go out to make money to pursue your self-interest you are doing it for your benefit. that is why my guest, mother teresa would be considered a great saint and someone like michael dell making a lot of money would not be given the same honor. selfishness is bad. liz: i hope one day pope francis recognize the evils of socialist dictatorships like cuba, north korea and venezuela. ashley: the church goes after money as well. and to provide money. for the operation. stuart: interesting spread of opinion mostly on the same page

except for you. ashley: i am not the one who has to prove anything, you are. stuart: we believe by faith. ashley: and money. stuart: back to you. i want you to tell me if you think that a 10 year treasury yield of 3.01%, that level is a real threat to the stock market. >> this is something new, something big. 2007-2008, $50 oil, that is the ceiling, the same thing in the treasury market and the interest rate market, the biggest trends, look at the 52-week low list for the exchange traders fund, littered with these bond funds and bond incomes. we are talking about 3% important now, my guess is in a years time, talking 4% and ultimately north of 6 or 7% by the time this is over.

this time it is different. stuart: i want to take a few seconds to talk about microsoft. morgan stanley says it will go to $130 a share. it is approaching $100 a share bearing in mind that i own a thin sliver of it where do you think microsoft is going? >> one of the great comeback stories, the growth stock of the 1990s. you had to wait 17 years for it to come back to the all-time high but it is there and dependent on all these stocks. they lead the market in the last 4 or 5 years, facebook and amazon, microsoft is not really part of it. of those docs consider leadership they are not doing so far, microsoft could exceed the trillion dollar level in market but $1 trillion is not what it used to be. stuart: i don't care, you're welcome to come back on the

show anytime you like. we will see you soon. i have another positive economic sign. the number of people whose 401(k) is worth $1 million, that number has hit a new high, fidelity investment alone has 157,000, 401(k)s worth $1 million or more, up 50,000 from this time last year. a very good sign. the price of oil holding above $71 per barrel in the price of gas, the national average is $2.91, up another penny from yesterday. that means 13 states and the district of columbia have a state average above $3 a gallon. the southeast has the cheapest gas prices across the country, mississippi is the lowest, the average is $2.60 a gallon. the revolt against california sanctuary laws continues to grow. the riverside county town of

corona the latest to oppose the sanctuary state law, a unanimous vote 4-0. when will the revolt spread to northern california, a question we will ask, donald trump and $15 billion in federal spending cuts. kelly ward, the senate candidate for arizona, the deficit needs to be reined in. as donald trump finalizes his meeting with kim jung un, donald trump should approach these meetings the same way reagan did with gorbachev. he will make his case next. >> we in the west must resist soviet expansion so we must maintain defenses of unassailable strength get we seek peace so we must try to reduce arms on both sides. mr. gorbachev, tear down this

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>> a shooting at a high school, multiple fatalities, no longer an active scene, active shooter seen, the shooter is in custody, a second is being detained. multiple injuries reported as well, we will update this and the pres. tweeted about it, school shooting in texas. early reports not looking good. god bless all. we are updating you on a developing story. building costs for the new los

angeles rams football station have skyrocketed, the new stadium in inglewood is expected to cost $4.25 billion, a record for the nfl. the developers as part of the expense comes from insuring the state income the standard earthquake, building access roads and adding utilities, driving of the price tag, the stadium is expected to open in 2020. our next guest says donald trump should follow ronald reagan's playbook as he prepares to a meeting with kim jung un. listen to what newt gingrich said about the parallels between trump and reagan. >> we are seeing a remarkable moment in history with the president who combines reagan's toughness and is a good negotiator understands reagan's principle of trust but verify. whether it is with iran or north korea, we will see a different more realistic

american policy. stuart: the executive director presidential foundation, tell me, in what way, what was the reagan playbook for those summit meetings with gorbachev? >> it started and finished with reagan being prepared. he studied more on the soviets, was a lifetime expert on soviets, set down with gorbachev, he was incredibly well prepared and had a strategy going in. stuart: seems like donald trump is going at this differently, i don't think he said it himself but not sure he is spending a great deal of time in preparation, he is not that kind of guy. >> he needs to. this is not a matter of buying a building or buying real estate. this is a matter of staring

down a dictator representing a terrible way of life for 70 years and this is not going to be easy, he needs to be extremely well prepared at the high level and the detail too. stuart: the bottom line is donald trump has to convince daesch that he is serious and will do what he says he will do and is not going to back down from his demands. that is what he has to convince his opponent of. >> he does. reagan was successful, he went in with a strategy that said let's denuclearize europe and he was successful was we have at the reagan library today the actual treaty that brought that about, this is going to take some real discipline that he has to demonstrate. it is not something he is known for but will take a really studied approach to get this done. stuart: did pres. reagan ever walk away from a walkout of a

summit with gorbachev as donald trump threatens to do if it doesn't go well with kim jung un? >> there is a page out of the reagan playbook, he didn't reykjavík in 1986, they got to a point where both sides agreed to completely denuclearize to 0 out nuclear weapons around the world and when gorbachev said we will make it happen but only if you illuminate your sdi program, reagan said that is it, i have had enough, he saw the trap being late for the united states and stepped away from the table and walked out of rhetoric -- reykjavík, a very determined guy. stuart: this time around the leading characters are different. kim jung un is radically different from gorbachev and donald trump is radically different from ronald reagan.

a very different situation. it is hard to say the playbook must be the same. >> different situation, something donald trump is going to have to take into account, the new secretary of state, mike pompeo reported kim jung un might be a dictator we laugh at, he apparently is a crafty, smart guy, i think he will be prepared to get his own way and donald trump has to be on his best game. stuart: thanks for joining us, appreciate it. back to the school shooting in texas, kr iv, fox affiliate in houston, reporting eight dead. police say one shooter is in custody, a second is being detained. we will keep you updated on

this developing story. back to the markets, we go through them every day, we check out the price of gold still below $1300 an ounce, 1290 to be precise, bit coin is down right at $8000 a coin as we speak. we have other headlines. gina haspel has been confirmed as head of the cia. hawaii's kilauea volcano has erupted and more explosions could happen any moment. a plume of ash 6 miles into the a, a spike in toxic gas levels, they are handing out masks to residents close to the volcano. the irruption was small but could be the first in a series of explosions. video from an alabama high school senior, 17-year-old

cynthia was unexpectedly hospitalized right before her high school graduation and was told she would be there for weeks. with the help of a robot she was able to attend the ceremony. the robot dressed in a gown and equipped with an ipad wheeled across the stage after officials called her name. that is one way to do it. more varney in a moment. ♪ i am a tough guy ♪ i got scar tissue there.

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we won the royal wedding. tomorrow morning i will be watching it and there's interest among americans to watch it from over here but some viewers disagree with me. alex says i hate to break this to you but most of us couldn't care less about the royal wedding. pam says not everyone is obsessed with the royals which i wish them well but i'm not interested in watching the ceremony, never have. fair enough. ashley: a lot of people say i will watch. it surprises me the level of interest here. stuart: they insist i move on to this, the debate over yanni

or laurel. even the white house is getting in on it. >> it has been reported you hear laurel. how do response? >> clearly are getting your information from cnn because that is fake news. all i hear is yanni. >> that is laurel. >> laurel, america. >> who is yanni? >> i hear covfefe. stuart: you hear it there. one more time, folks, role the audio. >> [laurel or yanni] stuart: i heard laurel. when i first heard it i heard yanni. liz: people, their ears here pitches differently.

you can hear the pitch differently. stuart: first time she heard yanni, now she hears laurel. liz: it is mind blowing people experience reality differently. stuart: the pres. ones $15 billion worth of spending cuts. kelly ward is a senate candidate who is next with us. i said democrats will never get on board with spending cuts. we will ask what she thinks. ♪ at fidelity, our online u.s. equity trades are just $4.95. . . fidelity. open an account today.

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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: updating the horrific story that we are following for you, a shooting at a high school in southeast texas, kriv, fox affiliate in houston reporting at least 8 dead. a shooter is in custody, the president tweeted about this earlier, he said god bless all. any update from law enforcement officials and we will take you right to it. president trump gives speech on president reform at the white house. we will monitor the speech. he makes headlines, we will bring them to you very quickly.

that's rick perry speaking right now. check the big board, we have a 10 point gain, that's all we've got this morning flat ever so slightly across the board. mortgage rates, they're the highest level in 7 years, can you believe in 4.6% on the 30-year and people are rushing to buy homes before rates go even higher, the property man is with us, that would be bob. am i right in saying that rates now 4.6%, 30 year fiction s there a rush of people to lock in the low rate while they can? >> certainly, but i think we are spoiled as you know and i know years ago what it was like carter it was 12%, great rates if for the last years, really, really good rates. people are obviously a little alarmed by this because maybe they'll go up, so, yeah, there's a rush to it but what i have

found, stuart, honestly, there's a percentage of population that truly understands interest rates and is concern. there's the other lagger percentage of population that only cares about if the payment sticks within their budget regardless of the interest rates. stuart: my problem is that investments in real estate are worth less these days because of lack of deductibility of all mortgage interest and the lack of deductibility of property taxes, to me that's a bigger problem with real estate investment, what do you think? >> let me tell you, what is going on in the southwest and the southeast where the investors that you and i have talked about to build portfolio

of assets to rent out, i don't think they care that much because they are buying quantity as part of portfolio. for individual families or individual that buys a home, yes, but do they really understand and i don't say this disrespectfully, are they really have the process that when they buy, i don't know, stuart, they are word about does it fit within monthly payment and they want to own again regardless. stuart: when i first came to america and joined the american dream and i found it right here, my dream was always own your own home, virtue in owning the home in which you live, do you think that ethic has declined with up-and-comers today? >> i think what's happened is those people that were victims of the crisis ten 10 years that then had the rent for a while because they had no credit or had to file bankruptcies and

ripped off and still want to own again. i think that the millennials that you and i talked about are getting older and understand home ownership but i do think that people are conscious of what happened, there's a percentage of people that still remember what happened but the human mind and the human being has a very short memory and if they could get into the home, they will s. there the same motivation, i think it's across the board, it varies. stuart: when a bubble bursts it has long-lasting effecting. >> yes, sir. stuart: don't forget to watch the property man right here on fbn:am fridays 8:30 p.m. eastern time, bob massiec is the host. spending wants $15 billion worth of spending cut and our next guest like it is idea, the deficit you have to rein it in. joining us kelly, republican

candidate from arizona, kelly, i don't think the votes are there in congress to cut spending. if you want to cut spending you have to have help from the democrats and they are never going to give any help to cut spending? >> i think you're right, the biggest problem we face is the republicans, look at the bill that senator rand paul proposed to balance the budget in 5 years by simply cutting one penny from every dollar that the federal agencies and federal departments spend. we had 21 republicans vote for it but there were almost 30 that voted against it. so people are tired of the campaign conservatism that we are seeing across the board and across the country, people saying one things when they run for office and going to washington, d.c. and doing the opposite. we saw it with the omnibus bill, it busted every budget cap that congress put on itself and only one republican voted for that, stu, and that was martha mcsally

from arizona. it's time to send different people to washington who are fiscally are saying who are progrowth and want to see our economy boom. stuart: we all want to do that. now, you say you want to rein in that deficit, good, i got you on that. but the real way to fix the deficit is to reform social security and reform medicare and do something about medicaid, entitlement programs, you have to do something about that and you can't, that's the third rail of american politics. >> yes, i was just talking about that yesterday with a group of people in scottsdale and i did talk about it being the third-rail of politics, however, it's the third rail of destruction of our country. we have to be willing to discuss those things. there aren't be any sacred cows, so we do have to discuss how do we reform those programs so that they are long lasting and they can take care of people, help to take care of people for long time into the future.

when we look at social security, we should be looking at what countries like chile have done, they implemented a program that allowed people to stay on the government side if they were fearful but also allowed people to take a little bit more risk with their own money and what they found was that people who were able to take that risk were able to have a much more comfortable retirement period than the people who stayed on the government dull. stuart: if i was your political opponent the first thing i would say, you're taking away my social security, you're take get away my medicare, you would be demagogued to death? >> right, but we certainly have to look at what's going to happen with my children and their children and their children's children, because the programs simple yes won't be available. i hope we get debates in republican primary and i hope we get them whenever it's in general. i hope that we get to stand up

on the stage side by side, head to head and talk about the issues and the policies and our vision for our state, our nation and our world, so far my opponents have refused, sheriff, joe and more that he mcsaly don't want to debate. stuart: kelly, we will have you back because it's extremely important. kelly ward, arizona. see you soon. how about this one, total student loan debt has hit all-time high, on your screen, $1.4 trillion. that's up about 30 billion from the same time last year. if there's any good news, here it is. fewer people are falling behind on loans, 10% were 90 days overdue, the 10% number is down ever so slightly from last year. sliver of good news at least. the russell, that's indicater for the small cap companies, they're all grouped in the russell 2000, all-time high, you're looking at it right

there. nordstrom not doing well, sales falling short and the stock is down a whopping 9%. now, next one, i received an item, i got an order from amazon, i ordered paper towels and came with a holder and on the package was a warning label, it says, california proposition 65 warning, this product is fabricated, it causes cancer. paper towel holder. i'm holding in my hands. put me on mara. warning label from california, that's ridiculous. that's silly. how many items are they going to put labels on, every single thing you will buy. all right, i'm getting ahead on that. more on that i promise you. revolt against california sanctuary laws, corona, the latest to oppose it, when is

northern california getting on board with the antisanctuary state deal? we are on that one too. pah! that will never work.

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nicole: i'm nicole petallides with your fox business brief, if you love bj's wholesale which used to be publicly traded, taken off the market back in 2011, it's coming back filing for ipo later this year some time. watch for bj's as retails had a hard time in general, estimated value, 2 to $3 billion and has the backing, of course, of the private companies as well. it will have 215 locations, 16 states, over 26,000 employees, over 12 billion in annual sales and the company has had good profitability which has impressed wall street and the membership renewal rate also at a record high, but it does have lackluster comp sales according to insiders and also stiff competition from cosco, amazon and other online retailers. your company is constantly evolving.

and the decisions you make have far reaching implications. the right relationship with a corporate bank who understands your industry and your world can help you make well informed choices and stay ahead of opportunities. pnc brings you the resources of one of the >> i'm with the victims' family, very sad day, very dad. on another note, very positive note, i'm honored to be here today with so many leaders from across the nation who are committed to the crucial issue of prison reform. joining us today are several members of my cabinet. stuart: we just caught the tail-end of the president. federal and local authorities are coordinating their efforts, he called for prayers for

everyone. i think the president was emotional at that point in a way that we have not normally seen him. we just caught the tail-end of it but he's making an address there. he started out talking about the shooting in texas near houston. our latest reports shows that a local news source there kriv is reporting 8 dead in that high school shooting. of course, we will update this as and when the news keeps coming at us, kriv reporting 8 dead in the texas high school shooting. changing subject and complete note, los angeles mayor eric garseti is using hollywood connections to democrats in other states. he held a fundraiser in los angeles for south carolina democrats and he raised in as much as few hours as the state party elected in the past month.

garcetti expect today run for the president himself in 2020. revolt against california sanctuary laws growing, the latest town corona, they opposed the law. take a look at the map, it's all kinds of places are objecting to the sanctuary state law all the way from buick county to san diego on the south and various towns in between. joining us bill, he's the candidate for california's 60th assembly district. bill, corona is in your district, my question is, when is this revolt going to spread to northern california because so far it's the mid part of the state south that's doing it? >> it's definitely a momentum that's growing through the state and i'm happy that my hometown corona voted 4-0 to stand on the side of law and order and impose the bill and when we look about bill it's not immigration it's

about public safety. prioritizes criminals ahead of safety of our community. when you bring to real-life example, there was a 6-year-old grace aguilar, she was killed by drunk driver, the drunk driver was previously deported twice and previously arrested for dui. ice had placed retainer to have him removed and it was not honored. he was release intoed the community to get drunk over 3 times legal limit and to kill poor grace aguilar. this is having a real-life impact on people and it's hurting people. it's a serious issue and time that we get serious about it. stuart: now, what's the feeling in your district and in town of corona in particular, i know it was 4 to 0 vote? does that accurately reflect the feelings of the ordinary folks in your district, is it unanimous opposition? >> well, i mean, i would say the overwhelming majority of law abiding citizens are oppose to protecting criminals in our

community. there's definitely a minority element, i don't really understand it. they feel like they are being sympathetic to immigrants somehow by having this sanctuary policy but it's not sympathetic and it's not humane, in fact, most of the victims of persons here illegally who are committing crimes are other immigrants, to kill, get drunk and drive drunk and lead to the death of like this little girl. so i don't understand the similar -- sympathy but there's definitely a minority. stuart: bill, you're a republican, my question is how many democrats in your congressional district, in your district crossed over the party line to vote against this california sanctuary state law, have you got crossover here? >> well, it's hard to tell because our city council is nonpartisan. they don't run as democrats or republicans, they run as community members. i will tell you, i have seen

internal polling showing majority of democrats are opposed to sanctuary state policies and sb54. again, it prioritizes criminals above citizens and above the safety of our community and a lot our friends that i have that are democrats, they don't support the policy either and i'm endorsed by every law enforcement agency in my district and men and women in uniform are unified in opposition for the policy. it's not good for the company. stuart: thank you very much, indeed, for joining us. good story. >> thank you. stuart: i have breaking news, president trump just nominated robert wilky as his nominee for veterans affairs secretary. wilky is serving as acting secretary, just moments ago to make that nomination. we've got medical news for you, fda has approved a new drug that could prevent migraines, a monthly shot, the cost is -- i was about to sneeze, sorry.

>> bless you. stuart: i do apologize. i think that's a first. liz: another first. stuart: i have been on television for 40 years, that's the first time i have ever done that, i couldn't control it. anyway, this -- [laughter] stuart: the day before the royal wedding. now, the important stuff is that this cure for migraines, good treatment for my -- migraines, this drug is a game-changer, roll tape. >> i predict that insurance will cover it, absolutely. it'll take a while for them to accommodate but they have tofer something that works, it's going to be a lot of pressure for insurance to cover it, this is going to change the course of migraines. stuart: it's in partnership with

nervatis. migraine sufferers. i received order, i ordered paper towels and game with a little gismo, well, that gismo as you can see came with a cancer warning. i think that's absolutely ridiculous. totally unnecessary and silly, there's a ton of items with this warning. this is a tease, we have more coming up. i promise you, more on my rant with this stupid thing. ashley: more rant to come. stuart: more rant to come. [laughter] as a control enthusiast, i'm all-business when i travel...

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at some point, we are going to be able to beat als. because life is amazing. so i am hoping for a cure. i want this, to uh, to be a reality. um, yeah. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.

oh hi sweetie, i just want to show you something. xfinity mobile: find my phone. [ phone rings ] look at you. this tech stuff is easy. [ whirring sound ] you want a cookie? it's a drone! i know. find your phone easily with the xfinity voice remote. one more way comcast is working to fit into your life, not the other way around. if you're approaching 65, now's the time to get your ducks in a row. to learn about medicare, and the options you have. you see, medicare doesn't cover everything - only about 80% of your part b medical expenses. the rest is up to you. so if 65 is around the corner, think about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they help cover some of what medicare doesn't pay.

and could save you in out-of-pocket medical costs. so don't wait. call to request your free decision guide. and gather the information now to help you choose a plan later. these types of plans let you pick any doctor or hospital that takes medicare patients. and there's a range of plans to choose from, depending on you needs and your budget. so if you're turning 65 soon, call now and get started. because the time to think about tomorrow...is today. go long. stuart: the president has commented on the texas school shooting. here is the clip. >> we will be with you forever. my administration is determined to do everything in our power to protect our students, secure our schools and to keep weapons out of the hands of those who pose a threat to themselves and to

others. everyone must work together at every level of government to keep our children safe. stuart: kriv reporting at least 8 dead, could be majority are students. that person is in custody. all right, i received this item from amazon, it's part of a paper towel holder, the package that it came in had to be separated. it had a warning because the plastic in that material, they say in california can cause cancer, that's a regulation from california. look who is here susan lee is with us, investigating the whole story, what else has to have the stupid labels? [laughter] >> well, it goes back to prop 65, safe drinking water, toxic enforcement act of 1986. lots of things, that includes coffee, la judge has ruled that starbucks and the rest to have

coffee chains have to label the coffee might contain cancer causing compounds going back to say what is found in french fries and those are the two staples in my diet and other products including, tiffany lamps, you have to warn of led in furniture, amusement parks, disneyland has to wairn about metal, dust and fumes that are part of the part, some of the rides, et cetera, guys, come on, let's get through this hotel. hotel, people smoke and drink in hotels so you have to warn about that. furniture has wood dust which may can cause cancer. i spent time in california, parking garages, this area could cause cancer-causing chemicals. the whole area. liz: what is going on with california? stuart: you ignore it because

it's on everything. they are stick ig it to you, that's what they are doing. they are sticking it to us in new jersey, i can't stand. more varney after this

let's talk about the cake and liz is determine today talk about the cake. liz: i love cake. lemon, flour, 20-kilograms of flour. i would rather 200. 50 organic eggs. stuart: do you really care about the cake? liz: yes, i do. i didn't care about anything else but the cake. my family fights about cake. stuart: how many stories, how many layers of the cake?

>> multitiered. stuart: that's all you've got. [laughter] stuart: somebody is in my ear about the war that americans fought to get rid of the royals. i'm determine today -- determined to present neil cavuto with a decent story. neil: we are trying to stay on top of shooting outside of texas. what we can tell you that authorities on the scene say 8 to 10 could -- have been killed in this. another 10 injured, it follows out to the t of chain of events with parkland florida where 17 were killed. connell mcshane has the latest. >> we are trying to monitor and stay up to date, multiple fatalities, the fox affiliate is putting the numbers of at least 8 people being dead but as you