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tv   Varney Company  FOX Business  June 4, 2018 9:00am-11:59am EDT

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dagen: hug to kevin kelly, lee carter, so much to talk about trade, these markets are loving what's coming out of washington so far. that does it for maria bartiromo, varney & compa is up right now. stuart, is all yours, sir. stuart: we are off and running this monday morning. looks like following on of last week. our allies are united on this. they don't like taxes imposed on them and they have put it directly to the president at the g7 meeting. as for china, they are warning us on trade as well. we have threatened to impose tariffs mid-june, they are saying don't do it. it's trump versus the rest of the world on trade this monday morning. look at this, stock market rally this monday morning despite the trade war talk, despite the media obsession with robert mueller, the dow will be up triple digits and yet again it is the big-name tech stocks that are leading the way.
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afterle right now premarket is about $11 shy of becoming the first trillion dollar company. microsoft will hold yet another record high, firmly above $100 a shares 101 this morning. primary day tomorrow on politics. his approval rating up again. his growth agenda is looking pretty good, generational low of unemployment at 3.8%. weak respon from democrats. nancy pelosi says the strong job numbers mean little to the families hit with soaring costs. let's sum it up. yet again investors are ignoring the negative media headlines and your money is looking pretty good on this the 500th day of the trump administration. varney & company is about to begin.
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♪ ♪ stuart: look at this. dramatic images from guatemala. deadly volcano there. ashley: most active volcanos in america. ash falling as far as 25 miles to the northwest in guatemala city, the capital, 25 people killed that we know of, hundreds more injured and many more missing, stu, obviously hopes for those being found alive near the eruption are fading as we speak. look, they are being told to wear masks to the damage to the lupgs. who has access to the masks in not many people. stuart: kilauea and hawaii. ashley: volcano, los angeles
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with earthquakes, it's an area very wide area that's become active and this is the latest example of stuart: that's monday morning, thanks, ashley. market again, well over 130 points despite all of the negative headlines on trade and politics and all of it. art, tariffs are almost universally opposed at home and abroad, so why are stocks up yet again this morning? >> well, i think there are two issues with trade, if i may, number one issue is i do believe foreigners place more tariffs on the u.s. than the u.s. places on them and that's wrong on that part and that is what trump is trying to correct. trump would love to have them drop tariffs instead of us raising tariffs. the second point is equally as strong on the other side which is any tariff, whether put on by foreigners or americans is damaging to the economy and
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damaging to the standard of living and risks of trade war and bad economy and the markets are saying that the first one trump is winning. stuart: the market may also be saying, it's a negotiation, you put forward a point, they don't necessarily have tariffs -- >> you said my point. these people have been badly behaving for a long time. it's time for them to drop tariffs rather than us raise our tariffs. ic this is a negotiation. i think trump has the right side of the negotiation. i do fear that any type of trade war would be damaging against u.s. economy and i advise against it but i do think tariffs should drop on u.s. products. stuart: i want to deal with facebook, new york times says it gave dozens of device makers like the big guys, google,
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apple, samsung, gave them access to personal data of its users. this is a big deal. liz: 60 device and pho makers including the ones you cited, also family and friends information, even if they shared info, informaon about e-mail, cell phone number, religion, politics, they also tested in "the new york times", blackberry device, blackberry accessed reporters private messages and responses as well. you have to wonder if e-mail and texts are sitting with device maker. violates ftc private consent struck with faceb new york times says most of these contracts are still in effect. stuart: still there. liz: facebook is saying, this is an issue about facebook losing
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control of info. stuart: market is responding, down 3 bucks. not a huge drop but unusual drop for a company like this. facebook is back to 190 as o this morning. take a look at this headline, itm cnbc editor, john harwood, what's his position, please editor at large. here it is, trump's tariffs on u.s. allies will shrink the savis americans gain from tax cuts. art, back on you on this, the tariffs really hurt our economy? does harwood have a point? >> yes, he does. taxes whether they'd be on income, purchases or whether they'd be on traded products all hurt the u.s. economy and that's what i was afraid of trade war. their tariffs hurt all of the world's economy too. what they should do is lower their tariffs and us not raise
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ours. stuart: i'm moving onto a tweet from president trump, this over the weekend. wht that the wall street journal, the never mention unfairness of th trading or billions of dollars that the tariffs we are now charging are and will be pouring into u.s. coffers. look who is here. james fre. the president tweeted aut you earlier this morning but first of all defend the wall street journal and position on trade. >> first of all, sounds like the president may be getting more poor -- polite. i think the important thing is characterizing tariffs into the united states pouring into congress, what that means the government is taxing our
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citizens when they buy things from overseas and that money is pouring into the swamp. so this is not a win for consumers. it's interesting he said so much succ cutting cutti regulation and now he wants to add taxes, add regulation when it comes to trade. it doesn't make any sense. i agree with art laffer, ultimate end game here is that tariffs come down around the world, that's a win. you to say the art of the deal, he did a great job, the problem is i don't see him demanding . i see him demanding certain numbers of exports and import as if the government knows how much we should trade with each other country in the world. stuart: i will get to a tweet that the president issued about you james freeman. this is the best time ever to look for a job, james freeman of the wall street journal. you were on the different show.
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>> sister network. and this is one reason i am -- i'm so concerned about therade agenda is that his tax c working. this is by a lot of measures, let's look at the report, we have another one tomorrow, 6.6 million jobs in the united states, friday's unemployment, 6.1 million people looking for a job. this does not happen very often when you have more jobs than there are people looking for jobs. this is a special moment and we have see not just the availability of jobs, wages coming up, nfib survey came out, small businesses going back to 1980's, never so many companies raising wages in a month. so it's a beautiful, he might call it fantastic job market. i'm saying don't screw it up with trade agenda. bailed yourself out and the wall street journal.
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check microsoft, reuters report today, they have acquired and paid 7 and a half billion dollars. a software-building website, we will have more on that after the market opens, premarket microsoft is on the upside all over again. and now we have this for you, ex,ng space tourism, they won't send people on a trip round tn this year, we are reading that as another setback for elon musk. plus the media's latest obsession, melania trump, not attending the g7 meeting this week or the north koreant. i'm going to ask howard kurtz are you or are they just fishing for controversy? he's in the 10:00 o'clock hour. we have a big 3-hour show and it's on its way.
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stuart: devin nunes is the chair of the house intelligence committee, he says there may be a needor hearings on google after the company's search engine showed republican party linked to nazism. >> a free-market solution if somebody can compete with google. if they can't, ultimately we are looking at monopolies and that brings in a whole set of other circumstances. i would hope that we don't have to go there and don't get involved in politics and don't sensor republicans. ashley: trudy wade, an old image of her with bigot written in red across the bottom.
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she complained. google said, google ultimately said you will have to get together, i think we covered it up, but the bottom, take my word for it, bigot, they said, look, you will have to contact the person who put it up there, his name is m who is a writer who posted the bigot image, wade has never contacted me. i believe that is true. google says you will have to get him to take it down, they apologized for it. they can't force it to take it down. i went to the images, sure enough it's still there. liz: isn't that hate speech? it's a personal attack on her. stuart: we will have more on the google story throughout the program today. larry kudlow poured cold water on the president's tariffs, roll that tape. >> i don't deny that, you have to keep an eye on it. chris: it could jeopardize it. >> it could.
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stuart: one to have biggest companies in t- in that city and you, sir, you're not a fan of tariffs, quickly make your case, please. >> well, i think that -- everyone believes tariffs the economy, if you look at what happened in my industry, i supplied multibillion dollar american corporation who is source their stuff from china because they have to economically. none of them are clambering to come back to america like mr. trump promised. they are looking for indonesia, malaysia and vietnam and it's because all of us americans we are addicted to highest possible quality and the lowest possible prices. that's capitalism. i think he takes a huge risk. stuart: give me big picture for a second, but the big picture, surely our economy is strong enough to absorb this kind of drag from tariffs, isn't it?
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>> i wouldn't use surely. i think that, you know, i hear what you're saying that this might be negotiation that's the case the president might come out looking smart if the other countries and the art of the deal, they drop and we end up with a better deal but i have read a lot of history and i know that wars are always unpredictable. there's a first shot and they think it's going to last a week or two but lasts years. if the president unintentionally starts a trade war, i think it will be a debacle economically and come november, i know mr. kudlow says blame china, it's hard when you're the leader like the president to blame other people when you're asking people to vote for you because we need leadership and that's where he is taking huge risk. stuart: fair point. let mw you what the president tweeted about trade. when you're almost $800 billion a year down on trade, you can't lose a trade war, the u.s. has been ripped off by other countries for years on trade,
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time to get smart. is this really negotiation, we put forward a position, they put forward a position, there's no reason to assume that what we have today i what we will have in six months or six weeks? >> yeah, i don't know what's going to happen, but what i would say is i know mr. trump got elected in some capacity by demonizing people who other countries and other people who do global business while i may not agree with that, what i would say from a bipartisan perspective, the republicans and democrats we have such a ridiculous spending problem in the country, tariffs are one thing to look at, my god, why don't we look at what we are doing fiscally, if it were for me, i would look at wall street -- i would look at washington and say fix the spending problem before we go off and doing reckless thicks on trade because you look at what prime minister trudeau is doing in canada, what the eu is doing with motorcycles and bourbon and i just get very
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nervous because we have a goldie-lock'snomy. stuart: maybe because it's negotiation. [laughter] stuart: thanks for being on the show, we appreciate your point of view. >> thanks. stuart: thank you, sir. take down its display of american flags, the town called the display excessive. wait till you hear what the business did next and get this, the university of michigan pays upwards of $8 million on 100 staffers who focus on diversity but the dow is up. man: i got scar tissue there.
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stuart: price of oil continues, look at it now. sixty-five dollars a barrel and because of that decline in oil, the price of gasoline is now beginning to come down, look at this, 2.94 is national average today. it was 2.96 on friday. and spacex has delayed tourism flight around the moon. ashley: yes, fly me to the moon, you are going to have to wait. two space tourists have put down significant amount of money, deposit to go out and circle the moon. now pushed back to mid-2019 or
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later, reason for this, but the theory out there is that the rocket that we are going to use to get them up there, the heavy-duty falcon rocket, he wants a bigger rocket. he called it -- i'm not going to say it on air -- it has an f in it. stuart: okay. >> bfr is what the acronym and he wants that rocket to put people up in space. to me sounds like the model 3 sedan. stuart: pulling back. ashley: moving target with elon musk, but there you go. stuart: 100-point gain plus, a town in massachusetts wanted the business to take down all of the american flags on display. liz: lea reality, northwest of boston, put 200 mall american flags on front side of business, the town said, you can't use the flags, you can't do that, looks
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like it's for commercial purposes. here is how they responded. put up 300 more flags, the town said you should put a reasonable amount of flags, word is crossing into the studio, the town may change zoning ordinances to allow people to put as many flags as they want. hey, get off of my front lawn. he said this is not about business, it's about patriotism. stuart: good man. picture for your money. stocks are rallying this morning. looks like the market is all about jobs and economy. ashley webster, ashley webster experience. podcast, new episode today. download, listen, but, please, do it after varney & company. ashley: enjoy and then get the
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stuart: looks like we are going start off in wall street in pretty much the same way we ended on friday. if you remember we were up 200 points on friday. nice upside move.
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looks like we are going to be up at least 100 points, maybe 130 when we roll the ball this morning literally in 5 or 6-seconds time, the market is ignoring negative media headlines on trade and looking probably more at the economy and jobs. all right, here we go. we are off, t monday morning and already i see a sea of green on the left-hand side of the screen, right now 26 of the 30 in the green in the upside and the dow is up 90, 91 points. we are at 24,700 as we speak. out of the gate and out she goes by one-third and 1% in the dow. s&p 500, percentage gain there is a little less, quarter of 1%, 7 points. nasdaq home of all technology companies, the nasdaq right now is up about a quarter of 1%, so we are across the board, on the upside. how about the big-tech names, they have been leading the market for a long time, four of
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them. amazon, apple, alphabet, microsoft, all four of them, i'm sorry -- ashley: all-time highs. stuart: amazon, apple is all-time highs. google is not. what you are looking at microsoft new high, amazon new high, apple new high. netflix new high. don't tell -- ashley: there's a theme here. [laughter] stuart: ashley we are -- webster , elizabeth mcdonald and jeff sica, why is the monday morning on when you have all the terrible narratives about trade? >> ignorance is bliss. that's why the market is up. liz: good morning to you. >> the fact that this potential trade war has investors very concerned but also very confused when it came out last week there
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was a wide spreed panic about it involving the eu and what's china g to do, that pretty much subsided and what i think investors are doing which may be the right thing, they are wait to go hear the details of what is going to be entailed in this -- in this potential trade situation. liz: can i take you on? >> of course. liz: forgive me. midterm year, 9 out of 10 times, the market goes up. s&p 500 goes up. also in the third year presidential term, 9 times out of 10 the market goes up. you're right about uncertainty, watch the market continue to trend up. this is a long-going negotiation with the trade tariffs, right? >> here we have a market that's up 200% and we have what would be if it does pan out to be an unprecedented trade war and if that -- liz: i don't think the president will let that happen.
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>> that may be true, if it does happen we could see turbulence. the market is priced to perfection, the market is looking for a reason to sell off and hasn't gotten a concrete reason. stuart: right now up 164. now, james freeman -- >> yes, sir. stuart: big tech companies have been making a running for at least two years and now fresh money is pouring into them, you want to tell me what's going on with this? >> yeah, we do have a great economy, we have companies with great earnings, we've got another great job's report friday, investors may be savoring that, not as concerned, maybe they think trade is negotiation happening, but i think particularly when it ces to these big techs, why are we not seeing a big selloff as people increasingly start asking questions about how they use our data and i think -- that's been
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the story this year, i think that's going on is investors realized just as we have seen in the eu that when government comes in with heavy regulation it tends toavor the big incuents because they' got theesources to comply. we are seeing that already with the eu privacy regulations, it's going to crush a lot of little competitors, it's going to be fine for google. it's going to be fine for facebook. this is reason -- ashley: like dodd-frank. >> you showed the clip from devin nunes from maria's show, it's the same story, you don't wanting to for regulation because invariably the big guys are fine, it's the competitors to tboolg and facebook that aren't going to make it. stuart: google is a break up, i think they want to break them up as oppose to regulate them. ashley: he's absolutely right. we have been agonizing how the business model of the big-tech
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companies use data is going to be blown up. how they will make the kind of money they have been making, they are hitting all-time highs. facebook gave access to data on users of facebook and friends. is this a reason not the buy stock? >> i love facebook. i think it's expensive now but the thing about facebook right now is that the government is going to potentially come in and regulate facebook unless facebook does something but i think what facebook investors are realizing is that facebook will, in fact, do something to protect data because they don't want the most valuable asset they have which is private information they use to advertise to be monitored and regulated by the government. stuart: back to your point,
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regulation often help it is biggest companies. >> right. i think the threat to facebook is consumer revolt. i doubt that we would happen. we get so many benefits in return for sharing things about ourselves, i think that's probably the bigger threat. >> plus the fact that facebook has been engrained in culture, people are addicted to it. they are not going to break the habit that quickly. stuart: difficult to walk away when you are hooked on these things, tell me about it. i have to about envidia on the program, we talk about it a lot because the stock is up 80% since last june, developed a computer that helped develop robots that navigate the real world. now, as investor, jeff, 258 on envidia? >> slightly too expensive. most important company in artificial intelligence, important with data center, can
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i wanto currency, well-diversed company, keep in mind, this is a company in past 3 years that's up tenfold, when you have a company up tenfold, it needs to catch up with itself. i think it's got incredible future but i would hold off. stuart: most important company developing artificial intelligence? >> yes, i would say that. envidia. stuart: high of the day, 7 minutes into the trading session, look at that, we are up 184 points, 24,800. how about mcdonalds. they did open new headquarters building in chicago today. 6,000 square foot restaurant on ground floor, table service, kiosk ordering, you can order any mcdonalds in the world and they serve it to you, new headquarters, the stock is up 160. that's mcdonalds. oil, we have the price of oil at
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$65 per barrel. mesh airlines has issued warning saying, look, if oil stays high, what they mean by high, i don't know, but it wil - they will think about raising prices. raising ticket prices. i don't think that makes any difference to business whatsoever. liz: what this washes out of the airline is properly hedged. a grip of hedging. stuart: you put ticket prices ok makes much difference. there's a shortage of seats. where am i going wrong here? >> this is excuse. airlines are dropping the ball across board with service. now they want excuse so when our fairs go up and we are miserable in the whole flying experience they could blame oil prices. what liz says is absolutely true u they hedge oil, i've done it, i've done it for airlines, they hedge oil, they buy contracts, they don't have that much of an
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impact so they're going to use it as excuse. into, jeff?thing you're not stuart: oil trader. >> not so much. i would never consider myself that but i understood the whole process behind it. we did it, we were called in to do it and we understand that oil has to go up for the airlines to actually be affected by it. this is just an excuse. stuart: one day we will find out what you were doing in the crash. [laughter] >> please don't. [laughter] stuart: google facing negative headlines, north carolina state senator labeled bigot in search, california gop labeled nazi ideology by google and by the way congressman nunes is calling for maybe hearings on google. and by the way, don't forget they are not going to renew the pentagon contract that upset so many google employees, they won't defend the nation.
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it's a brep? i know i've asked this before, a break-up, is that possible? >> i think it's just going to be increasingly hard for a company like this that is exercising so much power over what we see every day to -- to have these issues keep popping up and blame the algorithm which, of course, created by humans and the defense department, here is a company unwilling to support the national security of the united states but says a lot about extreme bias a workforce and so i think, again, you have customers probably increasingly asking questions about this company and how it selects its news and discriminates or not on particular content providers. stuart: all right, james, you've had a moment of glory. a tweet by the president. we will talk about the crash another day. thank you very much, indeed.
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20 points up. 208, 2009 points up for the dow industrials, 210 ups, we are at 24,845. we have some more headlines from rudy giuliani, says the president could pardon himself if he wants that, why would he say that? judge napolitano coming up. bret will join us at 11:00 o'clock hour to discuss the president's successes and the next 500 days. l over doozel, doozles are dozing.
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stuart: serena williams reportedly withdrawing from the french open. ashley: she's pull out because
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of muscle pull that she uses to serve. she's never had a problem like this before. she's incredibly competitive so she must be in a lot of pain and they will do an mri tomorrow to figure out what's wrong. stuart: sad news for everyone. that match would have been terrific game. both coming back after absence from the court. ashley: not going to happen. stuart: that's a shame. check the big board high of the day, ladies and gentlemen, 15 minutes into the trading session on monday morning, we are up 218 points. we are up 200 up on friday as well. i want to get more on microsoft, they are buying software building website called get hub, what are they getting, nicole? nicole: they are getting the brains, that is why they are buying this thing for 7 and a half billion dollars. this is over 28 million developers, the developers are the brains behind everything from innovation, design,
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installation, software, they actually -- microsoft actually had its own rival to get hub and they closed it because everybody was open-sharing, doing projects on get hub and they got this one and we are a developer first company. back to you. stuart: microsoft stock is up. nicole: and record. record high today. stuart: glad you pointed that out, nicole, thank you. republicans could increase their lead in the senate come november by picking up vulnerable democrats but our next guest, well, he's a conservative and he'll putting big money behind the democrats specifically heidiheikemp from north dakota. i would hope republicans increase majority in the senate but you are backing a very vulnerable democrat heidi
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heitkamp. heitkaph joined with republicans to pass reform, good piece of legislation, you covered it on to the show. she stood up to elizabeth warren and bernie sanders. we were disappointed that she voted against the tax cuts and the tax reforms that were passed earlier last year, we are still holding her accountable but we do want to thank folks from both padres. stuart: you're talking about the koch brothers in. >> we are thanking her for a good vote. we have not endorsed anyone for the senate race. stuart: you're putting money into a campaign, aren't you?
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>> we are thanking her for rolling back dodd-frank. that was good piece of legislation. we are about policies, republicans get it wrong sometimes, we hold them accountable when they do, when democrats get it wrong, we hold them accountable, it is important to say thank you when a politician does the right thing and this was a key moment -- we would have not gotten legislation without democrats. stuart: isn't it important for free market conservative type people to enhance the prospects of the republican party in the senate, the bigger majority they get, the more likely that you will get free-market policies getting through the senate and that's going to be very important for the next couple of years, by thanking heidi heitkemp, by thanking her, you are, in fact, promoting her, you're helping her and you are helping somebody who is very vulnerable to republican takeover. >> we have also held her accountable, stuart, with
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significant media bias in her state holding her accountable for voting against the tax cuts and tax reforms, that was earlier this year, we've done that, we've done that in indiana enator donnelly, liberal democrat in missouri, we have held democrats accountable, but, stuart, you to hold republicans accountable to, the omnibus bill that blew through spending cap, republicans own that and we have to hold them accountable too. we are not going to be appendage of political party. we do acknowledge there's big difference between mitch mcconnell and chuck schumer. no doubt about that. at the same time when individual senators help pass good legislation, which dodd-frank reform was not going to get through without some additional votes, stuart, it wasn't going to happen. it's important to thank them for that while still holding them accountable when they do the wrong thing. stuart: we heard your argument,
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we appreciate. >> thanks for the opportunity. stuart: yes, sir, thanks very much. where are we in the dow, 200 points, 28 of the dow 30 are on the upside, broadally all over again. next case. rudy giuliani, he says the president could pardon himself if he wanted to. the judge on that next.
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stuart: we are off the highs to have day but still up 200 points, 24,841 up. 206. president trump tweeting this morning, as stated by numerous scholars i have the absolute right to pardon melf, but why would i do that when i have done nothing wrong, in the meantime the never-ending witch hunt led by 13 angry democrats continues in midterms. lawyer rudy giuliani said over the weekend the president can pardon himself but won't. judge napolitano, why are they saying stuff like that, it makes them seem like mueller has something. >> chuck todd out of the blue
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said can the president pardon himself, i don't think he should have answered the question. by answering it he had ginned up the conversations the likes of what you generated with me now, is there something to hide. it causes the president to tweet, legal scholars say i can pardon myself but i won't because i didn't do anything wron just the mention pardoning one self one can't be a judge. it boggles mind that the president and lawyers have been thinking in hypothetical. stuart: never should have brought at all. what about this one, rudy giuliani said that the president cannot be subpoenaed indicted? >> i believe he's dead wrong on this, governor christie with whom i have disagreed on many things on another network yesterday agrees with me, look at the example rudy gave. it's an absurd and horrific example.
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if donald trump had jim comey shot with a gun in the oval office, he couldn't be charged. stuart: giuliani said that? >> in an interview with huffington post. it's clear he said that. the imagery is horrific, b, the suggestion is dead wrong, he would be arrested, he would be charged, he would be indicted but he would be set free to finish job as president and tried when finished term but to suggest that the president is a king and above the law, that that we at end of nixonatergate area. he must know that this is not the law. stuart: got it. >> see you in the 11:00. stuart: a lot of negative headlines surrounding google. calls for hearing, obvious question is the honeymoon over, my take on that top of the hour.
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stuart: back in the day don't be evil. that was google's not toe. it worked. google did have a benign image a futuristic company, all sweetness and light, wasn't it? my how times have changed. google is now under sharp attack. to many it is a symbo of unchecked power, secretive, manipulative, very postable but very big brother. they are not politically neutral. they skew left and are quite prepared to name-call conservatives. north carolina state senator trudy wade is a conservative. a google staffer put a big got sign on her picture. she says it is still there in
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google images. in california the republican party's ideology was labeled nazi. google is full of very talented people but they won't use their expertise to defend america. "new york times" reports it will not renew the contract with the pentagon to work on artificial intelligence for drone tar getting. 4,000 employees signed a petition against warfare technology. they won. the "60 minutes" report, google is watching you. they know everybody about you, but nobody is watching or controlling google. that has not gone unnoticed. once congressional hearings, senator, congressman nunez wants congressional hearings. he doesn't like them getting into politics. he doesn't want them censoring conservatives. he says they're acting like a monopoly. that's a key word. when the government thinks you're running a monopoly against the interests of the country you better watch out.
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of course google has a way out of all this. if the democrats take the house in november there will be no congressional investigation. regardless, people don't like big brother, and they don't be evil motto is being looking nowadays a little faded. the second hour of "varney & company" isbout to begin. ♪ stuart: we're holding on to what is very close to the high of the day. we're up 205 points as we speak. well above 24,000hundred. f you check out big-name technology companies, some of them are at record highs. for example, microsoft and amazon and apple as well. apple is $11 a way from being worth a trillion dollars that would be a first. big tech doing well. the price of oil continues to come down. we have it back to $65 a barrel.
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because of that retreat for crude oil we've got a retreat in gas prices too. 2.94, that is the national average for regular. it is down two cents from friday. let's bring in michigan congressman and house financial serv member, bill huizenga. >> that's all right. stuart: i will get it right. you heard what i said. >> i'm going to be a regular on your show and we'll be having this discussion. stuart: if you're not careful, bill, you will be. >> i love it. stuart: do you think google should be broken up? >> ultimately i think the question is, is it quote the public square or not? what, how it is looked at legally does have some bearing on that. obviously as you just had pointed out they have a clear politicals as well as a philosophical bias. so i think, it needs to be looked at. i'm very reticent going in and telling private companies what
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they can and can't do. whether it is to lend to certain people or not. stuart: i'm talking breakup. i'm not talking regulation. i think's different. i'm talking breakup. >> i think there is a very relevant question whether they have this quote, monopoly moniker or not. it has to be looked at closely. stuart: the stock is up 21 bucks a share. on that note, i want to bring in scott martin, fox news contributor, market watcher. scott, would this pressure on google, this talk about breaking them up, does this make you think twice about buying the stock? >> oy if it drops i would buy more, stuart. i don't think the breakup is going to happen. i agree with the congressman, it needs to be looked at. what do we want to break up and why? because they have 70% of internet search? because the nest thermometers are so good we use in the home. the phones they came out with, google pickle that are pretty
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good. what are we trying to break up. last time i checked, this is one thing you have to think about all the crazy tech c there, google by choice. if you don't like what you're seeing on search results, what they're doing, have fun with bingnd yahoo! search, i think google is the best in the business. stuart: the stock is up $21, scott. investors are listening to you, rather than to me. there is nothing unusual about that. stay there, scott, i have more for you in a second. i want to go back to bill huizenga. today is president trump's 500th day in office. >> yep. stuart: he has done a lot, achieved a lot, the media won't give him credit for anything, and i don't think that is going to change. >> i'm pretty sure if donald trump tried to declare monday there would be protests in the street. there at some point or another people have to let go on this a little bit. look, i have this back in my own district a traditionally, pretty conservative, republican district, people tell me all the time, look i don't like what he
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is saying, i don't like how he is saying it but i like what he is doing. i think those results help us making the case for the midterm elections. stuart: i think of michigan as an industrial state. >> it is. stuart: that is very true of the state you represent but look, you don't like the tariffs. you don't like this whole talk about tariffs, do you? and yet, surely those tariffs in the long run, those trade negotiations could help industrial michigan? >> not necessarily. in fact i sat down this past week, i was back for the district work week, i have the three largest office furniture makers in the world, herman mi, steelcase, tear number one, two and three automotive suppliers as well. our largest trading partner in the world is canada. all right? michigan and canada is something like sixth. you see tremendous amount of trade that goes back and forth from manufacturing, agriculture,
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other things like that. people are very, very concerned about that back home. we use steel an metal and aluminum. we don't typically make a whole lot of it in michigan and the question is, can you recapture a world that may have just gone by? stuart: are you convinced that the tariffs that are talked about and imposed today, will still be around even six weeks from now? surely it's a next? you got to have tariffs. you need the liverage that tariffs give you. >> sure you need the leverage but you need to know what is your target, right? china i think is really the commonly-accepted target, not our allies in canada and other places like that. stuart: the president says get a deal that opens up more trade, not less. >> i think that a is to be made there. nafta, for example, should be looked at, however i do think a five-year sunset on that is a huge mistake. you will not have companies making type of investments they need to make into the hard infrastructure if it is that
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short of a window. stuart: bill huia -- >> thank you, mr. varney, you're welcome. thank you very much. good stuff. back to you, scott martin. you've been cautious lately. i noticed you're on the show regularly. you have turned cautious. you used to beung-ho for t big techs, now you have turned cautious. i read your stuff. you're getting into gold. let's discuss that first of all y on earth are you getting into a dead metal which has no yield whatsoever? >> you know me t well, my friend, we've gotteto be too close here because you're right. here is the thing, i think the easy money has been made. that doesn't mean as an investor you can't make more but i'm telling you the rip upward in the market two or three years especially in tech, the names we talked about, we still own, microsoft, apple, amazon, netflix, those are still great. the reason we added gold b of wha you talked about with the congressman. we see the trade talks heating up.
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we see a issue coming up with nafta. i see trouble in the midterm elections perhaps. i don't see dead people like they do in the movie, the sixth sense, there are things there that say if we have a lot of highnergy beta names lik chnology in our portfolio, adding a little gold keeps market movements creeping into the portfolio because it acts like stocks and like bonds. stuart: you're getting into energy. you think oil prices are going back up again, is that why you're doing that? >> yeah. we added alp, the etf for the pipeli, traation and some drilling for the gas and oil. to us that is really important. if you look at all the wells out there drilled but say aren't producing just yet, thousands of them. the fact we have a pretty tough supply situation with you will at pipelines being built here in the u.s., with a lot of supply we canrag out. i like pipelines. alp is etf we owned for a few
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weeks in the client portfolios. it has great dividends, 9%. track as little bit with the price of crude but has a nice dividend. 1099 income instead of k-1 so it has nice distribution rate. stuart: alp yields 10%, did you say that? >> about nine, yeah. stuart: just about nine. i'm marking that down. 9% for a guy my age looks pretty good. scott martin. thanks for joining us. i will keep reading your stuff. giving a lifeline to coal and nuclear power plants. what is going on, ash? ashley: it's amazing. what the trump administration is saying look, if we shut down our coal plants, if we shut down our nuclear power plants, it is a risk to the safety and integrity of the energy-producing in this country. it is interesting because a lot of the coal companies, let's be honest, and their plants losing money at this point. there was an effort at one point lose doesn't plants, move forward with more efficient but they are getting a lot of competition from renewable
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sources, from natural gas. it is a hard go for the coal plants. president trump decided, he told rick perry, energy secretary, get out there find ways to preserve these coal plants and nuclear plants in order to, a he says, preserve the safety and integrity of this country when it comes to energy resources. stuart: i can only imagine reaction to the environmentalists. >> they're not happen but the coal mining. stuart: now this pope francis hosting oil ecu at the vatican this week? it is all about climate change. we'll deal with the story in a moment too. how about this? at the university of michigan 100 employees dedicated t diversity full time. charlie kirk explains it. i have a congressman from michigan sitting right next to me. $8 million a year. 100 on diversity.
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i quote mr. highs sipping ga. we'll be right back. ♪ well, it's earnings season once again. >>yeah. lot of tecanies are reporting today. and, h's it log? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you hsomething? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel betr? >>much bter. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade.
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stuart: we're off the high of the day but we're still way up there. gain of 187 points. most of the dow 30, 28 of them are in the green. it's a broad-based rally. the price of gold just slipped below $1300 an ounce. it is 1298 as we speak. pope francis, he wants to talk climate change with some oil executives, i believe in the vatican this week. liz, have you got any idea what he will say to them. liz: climate change is moral issue. stuart: a moral issue? liz: stop climate change. look at the roster. heads of bp, exxonmobil, larry fink from blackrock is going to be there.
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oil companies face lawsuits as being liable for climate change. very interesting they're showing up. this is year to the day the president backed out of the paris climate change which the pope supported. he is saying you have to do more to stop together to climate change. ashley: is the popemobile electric? , i'm just wondering. stuart: fiat car. i think it is gasoline power. that is a cheap shot. ashley: someone had to do it. might as well be me. stuart: listen to this. university of michigan has a diversity staff, a diversity staff of nearly 100 had people, which costs $8.4 million per year. what are they all doing? joining us, charlie kirk, turning point usa founder. i ask the question to you, charlie, this is your turf. what are they doing? >> their idea of diversity is just racial and ethnic diversity but forgets the most important
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type of diversity which is idealogical diversity. the 100 people are trying supposedly take mat university of michigan system more tolerant to minorities. what about the idealogical norityn higher education which is us conservatives. it's a complete and total waste of money. stuart: are these people organizing like safe places? >> all of it. they're in charge of keeping diversity quotas in place. they're not supposed to have quotas but we know they do. berkeley pioneered the whole idea of having full-time diversity staffers this is a stunning, 100 full-time people. think about that. with an annual cost, 8.4 million, not to mention university of michigan has a multibillion-dollar endowment. they're raising tuition every single year. administrative salaries are going up. president's salary is going up. subsidized by tax payers in michigan. they have a huge out-of-state population. as tuition keeps going up, value of education foes down, which
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have to ask a question, are we funding student's education, our kids future or funding social justice experiments or cultural marxist atmosphere that is trying to make, trying to make america away from our founding ideas and principles? stuart: if you have 100 people doing this -- >> think about that, 100 people. neil: 100 people, they have to be looking at every course that is offered. they have to look whether you have trigger warnings in those courses. you have to look at the ethnic and racial makeup of all classes. it is like a, they're a bunch of censors sitting on top of everybody organizing it what they view asocial justice. >> that's right. it is very intention. so they create a monolith that is impossible to disassemble. this is what the left has done through all the government bureaucracies. they're all protected by silly ememployment laws. they have their fingers in everything with traps and measures. if a reform-minded individual
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comes in to try to fix it, it becomes nearly impossible. college campuses they want everyone to look different i but think the same. their idea of diversity is dierentkin color, not different thoughts. if these diversity officers were saying get conservative viewpoints or free market principles in classrooms i would be okay with it. more than 100 people dedicated to it. stuart: i'm not doing trigger warnings. we're not having a free debate. i take it the diversity people -- >> they have a knock on your door, sir, senior diversity officer at university of michigan, i have the full mandate of the board of regents to investigate this, this. could you imagine? what is really going on here, more and more difficult to get ideas into the classroom and lecture hall that might oppose sensitivity training or social justice or cultural marxist piped set they want to teach the next generation. stuart: a long term-take over,
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son. >> a revolution is brewing. i go to the campuses. we did 38 campus stops since january. there are young people thirsting and yearning for a different perspective. we're leading charge. stuart: what they're thirsting for is education that supplies open and free debat >> what is college is supposed to be. what it is supposed to be. stuart: that is what it was. >> that it what it was. it was gotten away from that we need to change it. stuart: i have breaking news from the supreme court. it ruled in favor of a colorado baker who refused to make wedding cakes for a same-sex couple citing religious reasons. anymore, ash? ashley: owner and backer was jack phillips. at the state level he lost because they, the state level they said you're violating a discrimination law but he continued to appeal, look, it is my religious and freedom of expression that is protected by the first amendment. it went all the way to the supreme court. supreme court says, you know what, mr. phillips, the baker, you are right.
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you have a right to refuse someone based on your religious belief. liz: that is a big deal. that is public accommodation law. stuart: big deal indeed. we'll have more on that later in the program. right now we'll talk to about apple's premi event. worldwide developers conference this is a big deal for this time, the news might not be in the tech. might be apple's tim cook going after facebook's mark zuckerberg. maybe that is where the news is. we'll be right back.
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stuart: repeat the blockbuster news coming out from the supreme court. the supreme court has ruled 7-2 by the way, that is important. it ruled in favor of the colorado baker who refused to make a wedding cake for a same-sex couple. now the court said, yes, you can refuse this couple. ashley: it did. stuart: because -- ashley: because he has, because his first amendment rights says he can refuse because of his beliefs not to go ahead and bake that cake. it is interesting, they faulted colorado's anti-discrimination law, wait a minute. the individual's rights superseded the discrimination which says you can not bar, you can't refuse people service based on race, sex, marital status or sexual orientation. you would think based on that, this was a violation ofhat civil rights law in colorado but the justices agreed with the baker in this case. it wasn't 5-4 which we surprised.
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it was 7-2. liz: wonder if justice kennedy he wrote the court's 5-4 decision in 2015 effectively legalizing gay couple's constitution fall right to marry. this is, we don't know how, but he seen in arguments prior to this decision to lean toward the baker. ashley: religious and freedom of expression. it is my expression, both of which, are protected by the first a. supreme court agreed. stuart: i'm not a constitutional lawyer. i'm not a follower of supreme court decisions but i can't imagine it would now be okay if i ran a bakery, to refuse service to a black person on the grounds that i don't like whatever. liz: of your, if it is some religion out there, that would be a problem. i mean, listen this, opens up a whole pandora's box. ashley: it really does. stuart: it sounds like it is rather narrow grounds for allowing the baker to refuse service to a same-sex couple. sounds rather narrow.
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would not apply to broader civil rights questions. would i imagine that is the case. i'm not a lawyer. ashley: trump administration has been backing this baker all the way along the line. stuart: okay. hley: publicly expressed support. stuart: 7-2. that is huge. broad support. ashley: yes. stuart: we've got a dow stillp 190 points. we have a mainstream liberal media, won't let it go, asking the same question all the time, where is melania trump. she has been out the public eye some time since surgery. the big networks won't let it go. we'll deal with it i a minute. ♪
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stuart: we're off the highs of the day. we're still up 171 points on the dow, have checked for a long time. $7481 per coin. down a couple hundred bucks today. first lady melania trump will not be attending the g7 summit in quebec or the upcoming summit in singapore with north korea. joining us now, media madness author, howard kurtz. why is the media making such a fuss over melania tru can you tell us? >> this is the media at their absolute worst, stuart. headline, left-wing, "huffington post". plitt cosaying white house silence on this was fueling conspiracy theories. the fact that the first lady is recovering from surgery. she is by all accounts work in the white house. she is not doing anything in front of cameras.
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that just won't do. stuart: the implication behind all these heas two-fold. number one, a they covering something up? is the first lady truly ill in another sort of way? or, is there trouble in the marriage? i think the implication is there, for both of them. >> i think that is exactly right. there have been some other conspiracy theories thrown around. has she secretly moved to new york?is she cooperating with robert mueller? if there was significant health issue that white house was not coming clean. that would be legitimate story. there is not a shred of evidence to support that. this first lady doesn'te the spotlight anyway. she is staying away out of the public eye a little bit and media are just getting a little bit overheated about this. stuart: manufacturer of crises i suspect. another one, howard. cnn anchor, alisyn camerota was slammed comparing the trump campaign and the gang ms-13. roll tape. >> when the fbi use as source in
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ms-13 to find out what they're doing is that a spy or is that a source and informant to figure out what ms-13 is doing? >> i have, if you're going, i would call it spying. >> so -- hold on. so they're spying on ms-13. >> donald trump is not ms-13, allison. this is where you all make the big mistake. >> this is where you make the mistake, matt. stuart: i thought that was interesting exchange. what is your reaction. >> i think alisyn camerota is getting a bum rap. she was using a rather strained analagy, you're calling it spying, business about the fbi informant in the trump campaign. is it spying if somebody infiltrates, you know, ms-13? to say she was equating a bit of a stretch. similar to the heat rudy giuliani is getting on a couple of sunday shows yesterday when he talked about, well the president could shoot james comey on the street and he couldn't be prosecuted for that. he wasn't suggesting that this
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actually might happen. he was again trying to make a legal point. sometimes on television it is dangerous to tie two things together when you're trying to draw that analagy. stuart: ain't that the truth. [laughter] >> perhaps you know about that. stuart: thanks very much, indeed, howard. see you soon, thanks. i want to get to facebook. "the new york times" says it gave dozens of device-makers, amazon, samsung and google to users personal data on a vast scale. this doesn't look good for facebook, that is my opinion. that it avoid intrusive regulation? that is the question. jim anderson from social flow. you know about this kind of stuff, jim. >> i do. stuart: can they avoid intrusive regulation that changes their business model? >> this doesn't help. this news, definitely it is not a good luck. let me tell you what actually happened here. it is not as insidious as it looks. ultimately you have apple and iphone device, you put it on
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facebook, close the camera, go find the picture, et cetera. facebook was trying to remove some of the steps. you're in the camera. put it on facebook. these deals were intended to to do, started eight, nine years ago. facebook grew, became a facebook so friendly. you can't do that anymore from an iphone. that was the origin much these agreements. stuart: can they reform themselves? >> that is another tough question. i think the challenge they will face from a pr perspective, the distinctions they're trying to make, it was a third party, it wasn't a application developer. they're trying to describe, what they were doing with the phone companies, somehow different than what they were doing with cambridge analytica which is a true statement. i'm not sure the public or regulators are necessarily going to agree. stuart: i'm looking at stock price, it is down, not much, holding above $190 a share. look at that. very close to the all-time high. >> yeah. stuart: investors seem to say,
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no, you're not going to be regulated, you will not break up the business model. what do youay. >> two billion users log in on a any given day. nobown any evidence that will change o nobody shown any evidence of regulatory reform just yet. that is what investors are responding to. stuart: nobody has shown me there is real competition for facebook. i don't think it exists really. >> not in that sense. the question as facebook grows, you can only grow so far you run into other companies like disney, netflix, google. i think that is where facebook competition comes from. not the way we traditionally viewed facebook. stuart: can facebook be fined for a great deal of money for the transgressions that have just been revealed? >> that that is a lal question. i will leave that to regulators. even if they are fine ad great deal of money that is small amount of money on their balance sheet. stuart: it is. they make a great deal of money. thank you, mr. anderson.
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>> >> speaking of technologies. we're told a big theme at the worldwide developers conferencek versus mark zuckerberg. susan li is with us, why don't you tell us tim cook appears and is going after zuckerberg? >> don't you love it when titans battle? it is very interesting for us. at worldwide's developers conference, wellness feature, looking to curb iphone addiction. analysts say you need a phone in the end. what do you curb? curb uses much social media apps like facebook. looks like facebook might be the target here. another unveil, a new siri. sounds more like jarvis, can you do more with it? look for maybe previews of hardware and new macbook and cheaper iphone later on this fall. stuart: apple is up and facebook is down. >> in an up market, what does that say? stuart: well, we were talking with jim anderson as you know.
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the suspicion is, that facebook will not face regulations which destroy its business model. that is why it is holding close to a all-time high. >> they're talking about breakup from instagram. what about whatsapp. features not included in the breakup. breakup would be different from regulation. that is justing split them up. ashley: trump white house will do that? i know, i know. stuart: i don't think so. i have another question for jim anderson who is hanging around on the set with us, please. netflix, another all-time high today. they're spending huge on content. what do you make of netflix? >> netflix is interesting. they will spend $8 billion on content this year. ultimately though, i think, the question is, who will watch all this video, right? it's a golden age of television and video. everybody is making video. we each, consumers only have 24 hours in a day. this artificial intelligence,
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the algorithms, data that enables you to say, hey, i know what stuart is goingo want to watch. netflix has pretty good idea of that. you know w has a better idea? facebook. stuart: but i don't have a netflix account. we'll fix that maybe as far as netflix is concerned. we were talking about it. netflix and facebook, two completely difficult companies, if not on a collision course, at least jutting up against each other. they're all competing for the screen time. they all can feed information to netflix, to what i might like to watch. >> netflix feeds information to facebook. they will spend a billion dollars on content creation. everybody is competing. we talk about as parents we have to limit screen time. we need our parents to limit our screen time. all the tech titans are competing for our attention on the screen. stuart: what gets to me, it is all so big brotherrish. ashley: nanny state. stuart: big brotherrish. >> not the government. is private sector companies,
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some of the most successful, innovative count companies of our time. what do you do with this. stuart: that is a good question. we should a napolitano a libertarian. jim anderson, thank you. imagine you want some public record from the state department. they say you can have it but it will take 60 years for you to get it. that is the reality and we'll explain it in a moment. at the top of the hour my take on formerly golden state. a man moves into a house, a woman, uninvited, moves in too. there isn't much the rightful owner has to do about it. she has a free lawyer. my take on that. 11:00 this morning. ♪ brighthouse financial allow you to take advantage of growth opportunities...
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♪ ashley: in the last hour the ceo of america's leading non-stick coating company said, he is a little uneasy about president trump accidentally starting a trade war because he says the economayot be able to absorb the costs. >> i think that, you know, i hear what you're saying this might be a negotiation and if that is the case the president might come out looking smart if these other countries in "the art of the deal," they drop, we end up with a better deal but i
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also read a lot of history and i know wars are always unpredictable. there is the first shot. they think it will last a week or two, but it ends up going on years. if the president unintentionally starts a trade war, i think it will be a debacle economically. come november, i know mr. kudlow says things like blame china, blame europe, blame these people, very hard when you're a leader like the president blame other people when you're asking people to vote for you.
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stuart: ashley, come on in please, you have more on this developing supreme court case. ashley: we gave the headlines on this basically supreme court saying they sided with the baker of in colorado who refused to make a wedding cake for a gay couple. now on first blush, oh, my god, you can refus service. there is more, there is more in the weeds on this basically what it is, they ruled, the supreme court, 7-2 in favor of the baker because they say the colorado civil rights commission of which challenged this whole thing began, says look, it violates the anti-religious bias of this coun in other words, it is a very narrow decision. the justice, anthony kennedy, who wrote the majority opinion says this, issue must await further elaboration. in other words it doesn't decide the bigger issue whether you can refuse people service. it has to do with colorado's discrimination suit regarding religion. stuart: it is a very narrow
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ruling. ashley: there are other cases along the same lines that are pending one in the supreme court for a florist who refused to provide flowers for same section wedding we'll get bigger ruling this deals specifically with the colorado case. it was 7-2 decision. there you go, interesting. stuart: it is indeed. there will be a lot more. ashley: there will. stuart: let's get back to your money. the dow industrials up 180 odd points. we've been up significantly all morning long. mcdonald's, has a new headquarters building in chicago, 6,000 square feet, a restaurant on the ground floor. you can get any mcdonald's product from anywhere in the world at that chicago headquarters. the stock is 160. now look at alibaba. therenother technology company, not american of course, another one that hit all-time high, $208 a share there on alibaba. last year, citizens united filed a request for the emails
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and phone messages from victoria knew land, former assistant secretary of state of asian affairs to learn what role the state department played in the 2016 elections. author of the book let trump be trump, citizens united president, david bossie. hey, david. >> good morning. stuart: you made the request, the foia request of the state department. what did they come back to you with? >> first they come back with absolutely nothing. they never communicate. they never do anything. the state department historically, we've been doing this for years, literally the three years leading up to the 2016 campaign. citizens united and "judicial watch," tom fitton, really led the way on these types of investigative avenues using foia and litigation to get information out of the clinton state department, kerry state department, the obama administration. and of course once we don't hear
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back, we filed suit, which is really the only way to get anything out of there. in u.s. district court we're there. the state department comes back just last week to tell us if you can believe this, we've asked for employee's, victoria nuland's emails for 11 months, 11 months of emails, they said it will take anywhere from 42 to 62 years, not months, years, to get us these documents. it is literally my great unborn grandchildren will have to look at this material. stuart: well, have we reached a point, wheth just so many investigations, so many requests for information and for documents of all kinds, have we reached a point where we really are just jammed up to the gunnels? i know it sounds ridiculous that it will take 40 years, i know that. >> it is ridiculous. stuart: you take the point? >> no, i do. everyone is asking for document. >> here's the thing, the state
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department chooses not to put the resources behind it. they have certain amount of people. here's the issue. over the last several years, because of the corruption in the obama administration, because of the clinton and kerry state department's how they were run, they do have a lot foia requests, we grant them that. the answer not to tell people, not to tell the american people we will not give you the documents or it will take you 40 to 60 years. it is hey, how about we get some more resources? that is what secretary pompeo simply can do. i would submit to you, that the president of the united states and the secretary of state, if they knew these things were going on, it would be a little bit different there. i believe they don't understand that the deep state within the state department is telling us, giving as you stiff arm for victoria nuland's, this is a very crucial point here, we believe our sources say, there was a very much a center of what
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was going on with the fake dossier,ith the steele employment, with fusion gps and glenn simpson, weerstand that maybe there's a nexus that began there. that's why we went for it. stuart: so you think it is, the deep state? it is obama holdovers in the state department and elsewhere, who just take their time and obfuscate and stop you getting where you want to go? you think that's it? >> no question the career bureaucracies, that happened across the government that the president has been fighting with since the first days in office. stuart: is it because they hate donald trump? >> well i think it's a combination that they have, they have a you rent, we own mentality, stuart. they believe you're here for a very short period of time. we don't really have to listen to you. but they also fundamentally hate this president and i think that, that comes from their actions
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and attitudes. we see that. stuart: 42 to 60 years. that's a long time. >> it's ridiculous. stuart: david bossie, thanks for joining us. >> thanks for having me. stuart: another big car company saying good-bye what i'm calling traditional car and embracing the suv. we'll tell ybout in a moment. ♪ it took guts to start my business. but as it grew bigger and bigger, it took a whole lot more. that's why i switched to the spark cash card from capital one. with it, i earn unlimited 2% cash back on everything i buy. everything.
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stuart: fiat chrysler will start phasing out small cars and focus more on the jeep and ram marks. joining us fox news automotive editor, gary gastelu, frequent guest on the program. i take it, chrysler fiat, doing same thing as ford, because you can't make money on a small car, is that it? >> that is basically it. they killed the dodge dart and chrysler 200 a couple years ago. had no problem eliminating the
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lineups after four years on the market. fiat 500, i think they sold 250 of them in the united states. something like that. ram, jeep and then high-end brands, maserati and alfa romeo account for 80%f their volume and 80% of their money. no reason to invest the cars. they will keep chrysler and dodge around. if you walk into a dodge dealership, every vehicle there is 10 years old or older. that is how long those platforms have been in production. stuart: you mean the type of vehicles? >> types of vehicles. dodge challenger. stuart: they can't make much money if any on a very small call but now they're allowed to get rid of very small cars because they don't have to conform to corporate average fuel economy gas mileage standards. they can drop small cars, because they don't have to worry about the average gas mileage for the feet. they're making a wholesale shift towards offering hybrids and
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across the line-ups. all electric jeeps soon. chrysler pacifica, minivan is available hybrid. gets 80 miles per gal hon on epa rating. that is exactly why they brought fiat here in the first place in 2011. stuart: tell me about ford, you have an interesting statistic on very biggest ford, very expensive, outselling theery smallest, cheapest ford. tell me. >> this draws the picture. ford expedition suv starts at $52,000, outsoldhe ford fiesta subcompact sold at $15,000. lincoln 1/2 straight gore, $80,000, outselling mk-z sedan, 35,000. you can pick up less than that once the money is on the hood. ford transit van almost cracked top 20 in sales this is commercial vehicle, outsold the ford fusion sedan, one ford will
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hang around. stuart: they don't make much money. more "varney" after this. : . : : i can do more to lower my a1c. and i can do it with what's already within me. because my body can still make its own insulin. and once-weekly trulicity activates my body to release it. trulicity is not insulin. it comes in a once-weekly, truly easy-to-use pen. it works 24/7. trulicity is an injection to improve blood sugar in adults
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then i can focus on what i want to do. visit learnfuturestoday.com to see what adding futures can do for you. ladies and gentlemen we bring you another example of california's extreme dyunio carlos lez is a working guy who inherited a small house north of l.a. a squatter moved in. he never agreed to rent his house to her and she never paid him a dime in rent but he couldn't get her out. the squatter got a lawyer who delayed her eviction almost in definitely. here's the dysfunction. it was paid for by taxpayers. under the civil counsel act squatters are eligible for a free lawyer whose job it is to prevent evictions. mr. lopez is a taxpayer but his taxes are being used
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against him to ruin him. he could have paid off the lawyer and the squatter. he could have bought in court at great cost but he chose to walk away. he's selling the house. he said it's just not worth it. tomorrow in san francisco, there is a ppohat would giv it taxpayer-funded lawyer to any and all tenants facing eviction. this ishealifornia left in action. there's a housing shortage created in part by extreme regulations that make it v hard and very expensive to build a new home. they respond with anti- landlord rules that make the housing and homeless mess much worse. the greens have given california skyhigh gas prices because they hate oil companies. the government unions have unpayable pensions. the government is still chasing the multimillion dollar bullet train to nowhere and the democrats now want to get illegals free medical care. it's called dysfunction and it
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is obvious. it is not, as they say, sustainable. the third hour of "varney a company" is about to begin. i'm a little fired up about the editorial. come in larry. national syndicated talkshow host. you heard what i've got to say. are you fired up to? >> i am. you were lean yet. there's a 2005 supreme court case that said you cannot have a clause in your agreement that you will waive the right to a jury taugh trial. all the tenants demand a jury trial which is very expensive and they will get a lawyer paid for by taxpayers to stay indefinitely in the working-class landlord like
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this gentleman can't afford a lawyer or the time so he'll negotiate some sort of deal to get the tenant out well beyond when the tenant should have stayed. this is not a tenant. this is someone who moved in, never paid a dime and still won't leave. >> i don't know where to go with this except the activities of the left in california will make the housing crisis much much worse. it will drive landlords out of the business of making homes available. that's my bottom line. and yours too, i think? >> that's exactly was happening. about all the people that clogged the system like the woman who won't leave his house. this is going on all around the state. it's creating a distant to rent out, you can't get fair market value because of rent control, on and on and on. this is why ceo magazine ranked california the worst place to do business for the
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entire time ceo magazine has been in business. >> larry, as you know, the big primary is tomorrow in california. the latest poll shows the democrat on top. i think you got 33%. second is john cox with 20%. that's down the line. the key is surely a republican comes in at number two. if that doesn't happen then you've got an democrat race for governorship. >> that's right. that's the last thing kevin wants pretty does not want to contest against another democrat. he wants john cox. he wants travis allen because it's so lopsided that it's almost 3 - 1. you could run mother teresa as a republican and she probably would not get 30% of the vote. >> but at this moment it does look like john cox comes in number two, correct. >> right and that's good news for the republican but at least will have a shot.
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maybe some scandal will come up and it will turn out republican support and votes for all the house races down ballot that are very important to retain the control. >> if john cox is on the ot, 'sll news. >> i think the gas tax will bring out republicans and democrats because i think that will pass. >> i think you're right. you can't win if you're not playing. the importanthing is to finish number two. the president endorsed john cox. who knows. >> i look forward to the day when you come to the east coast and set next to me on the set here in new york. i'd treasure that moment. thanks for joining us. >> two weeks from now you're coming. all right. we will see you soon.
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check out the big board, going back up. we were up to 20 and then about 170 now are up about 200 points and we have 26 of the dow 30 in the green. that means there up. the yield on the ten year treasury a long way awa from 3%. we are at 292. come in ron carson. he's with the carson group. he is a marketatcher. i read your stuff and i'm looking at the market today and i see that you think all kinds of problems overseas are going to come and bite us on the backside whether it's italy, china or whatever. and yet the market is up nearly 200 points. do you want to explain that. >> stewart, the old saying. [inaudible] we definitely have exuberance here. these are great companies. but great and fair priced, we'd much prefer value stocks over tech, but it's the sexy
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fun place to be right now, and you're right, think of the unevenness of this global grow. italy's gdp is less. person than it was in 1999. china is actually slowing and its uneven growth. would be a little careful in here. >> the last time you are with us you talked about big technology. you said maybe they were a bit expensive. that was the last time you're here. today, four of them is all-time high. how do you feel about the big tech companies now? >> for example, we've owned apple for many years. we just exited apple recently. we never bought into the argument it was just another tech company but there's not been a lot of innovation on the smart phone but people are still piling into the name. last week at the excel meeting, we put on, who hits
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it first apple or amazon and he said amazon and that's interesting because apple is pushing up against trillion as we speak. i think there's some unique stories out there and amazon is one of them. when i that singularity they are one of the few companies that said they would have a few problems being disrupted by anybody. i'd be fairly careful, adding more to your name and rotate into some value positions. >> microsoft just hit a hundred one dollar. share. >> i think as i recall it's like 30 some percent of your portfolio.
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i don't think i ever said it was a third of my portfolio. i don't think i said that. >> i think you did. go back amok. or you at least insinuated. >> maybe i read your mind. real fast, amazon, it takes a strong stomach to put money in amazon at $1600. share, doesn't. >> it's just like google. it's been hard to put it in but you look at jeff base owes he wakes up every day anything's of his company is a day one company. that's the entrepreneur i want. they make the complex simple. i would not bet against amazon. i think they will be the largest market cap in the next decade. >> all right. we hear you. a major milestone for president trump. commander-in-chief marking his h day in office.
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he has taken action on many of the key issues. britt is next and he's going to look ahead to the next 500 days ♪ ♪ ♪ ♪
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devon nunez says we need hearings on google after the company search engine showed results between -- rotate. >> i think there's a free market solution if someone can compete with google. if they can't looking at monopolies and that brings in a whole other set of circumstances. should they be reined in?
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i would hope we don't have to go there. i would hope they don't get involved in politics and don't censor conservatives and republicans, but if they continue to do it we have to move to hearings on this issue. >> by the way google is also apologizing to conservative north carolina sta senator who put a big sign on her picture. they say it's still there in google images. we'll get into this more with the judge for the question would be, should google be broken up. we will get into it. now this, today is president trump's 500th day in office. the president is tweeting about it. here it is for this is my 500th day in office and we have accomplished a lot. many believe more than any president in his first 500 days. massive tax and regulation cuts. lower crime and illegal immigration. stronger borders, best economy and jobs ever and much more. joining us now on thi monday morning, despite all of those
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accomplishments which we can argue about all day, the media absolutely hatesim and i think that will continue for a long time to come. wh say you. >> i don't disagree with that. i think they've always hated him. if you and i decided to design mebody the mediaou hate, we could hardly do better than donald trump. this incredibly rich guy who is not terribly articulate and defies conventions and norms right and left and has a tenuous relationship with the truth, we couldn't do better, but i think the people who support him without say yeah, we get all that, but they look at these 500 days which have been eventful, they look at the things he's claimed and they believe a lot of them and think they're right on and they look at the economy and jobs and they say were doing fine, thank you very much,
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leave him alone. >> the media will not give him credit for anything. i think that's the bottom line. what about the next 500 days? does it all depend on the november midterms? >> to some extent, but remember we have foreign policy issues at play and trade issues as well. there is considerable opportunity in both those areas but considerable peril as well. the summit could lead to something big and measure that would really make a change or it might be a fiasco and worst-case scenario it would be one with the president and his team made a bunch of concessions on the other side. that's a concern but also an opportunity. the same is true and trade. we have the potential for a trade war which could undo much of the good affect of economic policies. it's not sure that's going to happen but all of that is up in the air.
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the midterm elections don't really affect that particularly the midterm elections will have a lot to say about what he's able to do legislatively in the two years that follow and if he loses control of the house it will be hard for him to get much of anything done. >> trade may be a negative in the future. foreign policy could be a negative in the future, but in all likelihood, the economy is going to stay strong for at least the next six months, probably well into next year. prosperity has arrived. you can't take that away from the presidents next 500 days. >> no you can't, unless a trade war erupts which would be road that and the president has done very wellin his economic policies. the economy has been unleashed and is now curing out the robust recovery that was so long delayed under president obama. i think there's real momentum
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there but sooner or later there will be a downturn, we just don't know when. >> remember that expression, if the economy stupid, i think my hold true today. >> i think it does. >> thank you. we will see you soon. we will take a look at a couple markets and look at gold, just below $1300. ounce. have a bit coin, about the same range recently seven or $8000. coin. then we have disney planning to raise the minimum wage for their workers from ten dollars. hour to $15 by 2021. some unions say disney's plan includes new rules that would affect how the employees are paid for working overtime and holidays and change how their schedules are made. jeep launching a subscription program that will allow
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employees to use vehicles for a monthly fee. it's scheduled to start next year. many companies are doing that. mercedes, volkswagen amongst many others. scription for a car. and a launch overnight for falcon nine. the rocket carrying a massive communication satellite to bring data and broadband services to asia, austria and the middle east. this is the falcon nine elevenths launch this year.
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the markets are up, the price of oil is down. now it's at $64. barrel. the price of gas is also coming down. $2.94. gallon. national average for regular is down two cents from friday. american airlines, their ceo said they may have to raise prices because of high oil prices. come in jeff, if american
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raises prices, are other airlines likely to fil follow. >> not necessarily. some select groups have tried to raise prices and competitors did not jump in. it's not a guarantee. it's not a guarantee what's went to happen w jet fuel prices. take a look at the current price for jet fuel. surprisingly little bit that jet fuel is a lot cheaper than what you put in your gas tank that you just reported for the national average for gasoline. that's because jet fuel is actually refined less than the gasoline you put your car. so it's cheaper. still, up 47% over the course of the past year. another piece of positive and that is come in the last month, jet fuel continues to be up about two and half percent but in the past week it came down to half percent. just like oil, it does very much mirror the price of oil, it is down as well. maybe they won't raise fares.
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>> next time a jimmy in like a sardine i shall reflect upon the rising price of jet fuel. jeff locke, you're all right. we'll see you soon. >> when was the last time you flew economy anywhere. the supreme court ruled in favor of a baker in colorado refused to bake a wedding cake for a gay couple. question. can businesses now refuse service to someone they don't like? the judge on that one mgx minerals' disruptive technology can extract lithium -
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used for batteries from expired oil wells. mgx's new pilot plant aims to produce lithium-carbonate one hundred
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times faster than from conventional lithium brine. mgx minerals at crowne plaza, we know business travel isn't just business. there's this. a bit of this. why not? your hotel should make it easy to do all the things you do. ich is what we do. crowne plaza. we're all business, mostly.
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where are we on this market. two hours into the session, we are up 177 points. most of the dow 30, the vast majority are in the green. look at facebook for a moment. the new york times says it gave makers access to personal information. a lot of personal information for the stock is only down 80 cents. deidra is here with us now. spell it out. who got all this personal information?
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>> 60 companies including apple, amazon, samsung, blackberry and we can go down the whole list. microsoft and a lot of big companies. >> what information went out there. >> this is where there's a difference of opinion heard the new york times says everything from your relationship status to your political leaning and politi and photos. facebook says that is not true. they say if users share that information is by consent. the new york times had false, not by consent. that's one big division for these companies have been very mixed. apple said if it did happen we did stop getting information from facebook last september. amazon and samsung say no comment. it beginning to trickle in. facebook did post a defense in honor of being transparent, they said these partnership agreements, not third-party
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apps but partnership agreements basically did not abuse any of this data and facebook goes back to its origin story which is hey were creating something new and different, no one else has done this, if you had a blackberry and you wanted to use the facebook app on your blackberry t had a let blackberry have some access. >> i saw from the proposition that everybody knows everything about me. >> and you and you and everybody. >> i think the photos, relationship status and politics that people little bit edgy. again this could be strike three for facebook. the stock is in reacting. that means no one cares. but i want to bring in john, he's the ceo of a data protection company is called virtue. welcome back to the show. s to mehat the question of the day is, is facebook
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going to reform itself and put in some kind of policy that restricts other people's acceo m information or is the government going to have to do it for it? which way are we going? >> so then thank you stuart, that is a very good question. so you talked about transparency and we are truly in a crisis of trust today and when you are so buried after repeated opportunities to be transparent with the public about your action and whether it's a partnership agreement or whether it's a third-party developer, the company had opportunity to really take the lead in terms of being open about how it was able to boost traffic to become so very large and the fact that it was the new york times driving this conversation just goes to the importance of these large platform companies doing every thing they possibly can to be
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very clear about their actions. in this context, difficult.ation really is very these large aggregators. >> i'll jump in. what you're saying is self-regulation is unlikely, public sentiment is unlikely to be appeased thereforeou think the government can, should and will step in? is that true. >> that is true. 17 years ago when i was at the white house as part of the bush administration we were really very close, right before september 11, to put forward a privacy regulation that essentially would have given the end-user that affirmative consent before data could have been resold online. i think it's a shame that 17 years later it's the europeans who are actually taking the
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lead here. >> that's a question of regulation. what about breakup? facebook has instagram and whatsapp, they could be forced to divest both or one or two, that's a breakup. that's not regulation. >> i think as americans we had to be very careful to look at the unintended consequences of those kind of moves. we have to make sure that our crown jewel assets can continue to iovate. i think there's a lot of work to do from an antitrust perspective to really think how we handle this. i'm starting to come around to that idea, by think we a have to press pause in terms of racing to that breakup of these large companies. from a data ownership perspective i think we can really give the end-user control and the right to be forgotten by essentially taking the best of part of the
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upn mandate and port that over to the u.s. i think that's the first step. >> if that's the first step i'd expect to see some change in the stock price which hasn't happened yet. >> thanks for joining us. >> google is facing a lot of headlines. evan nunez is calling for hearings. the california gop ideology, conservative state senator from north carolina labeled a big it in google search and google will not renew the pentagon contract that upset employees. the walking away from defending their own country. the judges here. >> you have a smile on your face. you're going to ask me if it's time to break up google. >> what say you. >> that would assume the people breaking it up know better about the business model than the people who created the most successful business model.
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>> no such presumption. >> google is operating a monopoly on search. >> so what. look at how well it works. just think of anythinhe anet you want to look up and you can look it up because of google. >> you're the privacy guy, i've got no privacy from google, they know everything about me. >> what is the government doing by saying google will be better and fairer. >> i'm telling the government to break them up. >> are you a shareholder. >> no i'm not. if you were a shareholder you bought it when it was very low, you'd be delighted with google's monopoly wouldn't you. >> moving along to a far more important subject and you know what it is, the supreme court ruling in favor of the colorado baker who wouldn't make a wedding cake for same-sex couple. but. i don't know anything about this, but it seems to me that would open up, if i run a
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business, i can say no to anybody i choose if i just don't like them. is that what's going on. >> if you can base it ihe sincerity of your religious belief, yes. that is the camel's nose under the tent of this ruling which, to my dismay, the dissenters didn't even point out. the majority says this is not a ruling for all time. were not changing the civil rights laws, were not changing colorado civil rights were just saying in this one case with the state of colorado, through its administrators of its antidiscrimination laws manifested hostility toward religion. what i'm telling you, if you can show that your religion lets you discriminate against, fill in the blank, whateve coule logic of this case. >> but the person who ran the business and said no to the englishman and the italian and the afghan american, they would have to have a very secure base in their religious
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feelings. >> and then we get into the very, very awkward business of the court assessing the centrality of a religious belief to a person's doctrine and thought. do we really want judges to go there. >> it was a 7 - 2 decision. >> the baker made cakes for the gay community. the only time he said no when was it was a wedding cake. that's where he put in his religious beliefs. >> how does making a cake stop him from saying i'm against gay marriage. just as justice ginsburg said, the supreme court is attempting to determine the religious claim. put the court in a very awkward position. >> fairporpoint but a 7 - 2 ruling is a very strong ruling. >> it will not be used that way.
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it's a blockbuster decision. next case. the number of people arrested him across the us-mexico border topped 50000 in march and april. highest monthly total since president trump took office. the president of the national border control counsel brandon, how on earth, what's driving these numbers every way we look out for those we love is an act of mutuality. we can help with the financial ones. learn more or find an advisor at massmutual.com
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at anoro.com. i'm nicole with your fox business brief. a close look at microsoft. shares are hitting an all-time gh currently trading at 10125. it's been a winner this year. this is for developers where they do their open source sharing. these coding tools allow developers the brains behind the operation actually microsoft had its own
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in california republicans are banking on anger over the
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states gas tax to help them gain ground in the midterm and also in the primaries tomorrow. hillary vann is live, hillary, republicans are making a big pitch on this one. >> that's right. it's all about voter turnout tomorrow and republicans think that all these voters being route riled up over rising gas taxes, up to 40 cents at the pump, they think that's going to bring more voters to the poll and that is key, but the democratic congressional campaign committee disagree sang local issues aren't what voters are going to be thinking about when they're choosing tepresentative for congress. >> at the end of the day, i think voters are focused on kitc table issues, i think when they're voting this week they will be focused on the things they're seeing coming out of d.c. california republican leadership said democrats should be very worried because voters up-and-down the state aren't happy about governor jerry brown raising taxes and
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republicans a orange county is especially a big commuter y and they feeling the pain at the pp. >> it's going to affect orange county. we are seeing a lot of concentration of the most competitive congressional seats. they're not seeing it, but we are. we have that enthusiasm. >> they tell me these four seats are critical in november but republicans think it will end up kicking them off the ballot because voters are happy. >> we shall see. gasoline in california on average is 78 cents a gallon, more expensive than the rest of the country. the number of people arrested top 50000 in march and april. biggest total since president trump took office. brandon judd is with us.
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that's quite a spike. 50000. why? >> it's a huge spike, especially when you go back and look at april 2017. the reason is, it's the same thing we go back to the obama administration. if you break our laws and there's no consequence to breaking those laws, people are going to continue to break the laws and that's what's happening. a catch and release program from a judicial standpoint continues to happen and if people come over here and they know they're not going to get sent back to their country of origin, they will continue to come. >> from a judicial standpoint, what does that mean? if you step foot in the country illegally, what happens to? >> when someone crosses the border illegally we've take them into custody. there are several things we can do. we can process them for deportation and if we have the bed space we can hold them until a judge determines their deported or if they asked for
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asylum been a judge can say you meet that credible threshold initially and we will let you go until you have a court appearance which is two yeaown t road. what we've seen is a mass influx of these individuals coming across the border, asking for asylum and the judges are letting them go. make no mistake, there are certain things the agency can do. when we hear that president trump is upset about this, you can understand why he would be upset. by himself, single-handedly he said that low watermark in april 2017. he expected his circuits to step in and enact his vision which frankly just hasn't been done. >> straighten me out when we say border crossings top 50000 in april and 50000 in may. is that 50000 people apprehended at the border or your extrapolation of how many you think him across the border. >> no. i wish it was just 50000. that's how many people we arrested and took into
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custody. there's two separate areas through the port of entry or between the ports of entry and the vast majority of individuals, 40000e between ports of entry which forced me too deploy my resources. the scary thing about that. if you need five people to control one linear mile of border in a hundred people come across that takes my five people out of the field you've created a whole word opening where these cartels can cross their high dollar products. even persons from special interest. it's a scary situation that were facing on the border. >> the military is on the borde border. are they helping? >> they are.
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were hoping to see them in more places that will help us to free up our resources but there always going to be >> what you really want to the wall. i know what you're thinking. thanks for joining us. next case, silicon valley seeing in exodus. one of the places they're moving to is idaho. the governor of the great state of idaho is next. i will ask him. is he worried about his state turning and bringing in a lot of them no caps that will turn them from red to purple? that's what i'm going to ask.
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there is a neweport claiming more people are leaving silicon valley california and heading to states like nevada, texas and idaho. joining us now is the governor of idaho. welcome to the program. >> thank you. it's good to be back. >> many times in the past you've been on the program telling us how great it is to welcome all these refugees from high tax states. are they not going to pervert your politics?
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there probably liberals, their techies, they will object to your guns any moment now. >> i don't think so stuart. obviously, they kno aut idaho. they rearc idaho before they come here. they know we are very warm to the second amendment, but what they're escaping is the high cost of living. that includes taxes, in fact, i understand from some of my friends in california that the governor there is actually going to put an exit tax on folks who want to leave. i don't think it's going to change at all. it does change a little bit , all you guys would have to do is move out here and that would even it out. >> i'm not sure how to take that. fair and balanced is the way i am.
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usually. [laughter] you have a big influx coming into boise. do you have a housing problem? you have a rental problem? are there enough jobs? what about the schools? what do you do when you have an influx like this. >> obviously, education is one of our highest priorities. my tenure we've created to renew community colleges and we have a medical school that's going to open this fall. yes, there are growth problems, certainly housing is one of those and the more affordable housing that we can provide in idaho, we are looking forward to meeting
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those challenges the same way we met the challenges during eight, nine and ten during the recession. >> i woke up this morning, i live in the new york area. it was 59 degrees, raining and i thought it was october. do you have a similar problem with climate in boise idaho with all those people coming in from sunny california. >> when i was driving in from the ranch this morning to the state capital, it was 67 degrees in the sun was shining. i can see a cloud in the sky. in idaho we have a saying and that is if you don't like the weather, wait five minutes and it will change. >> that's the saying in england. you have to wait ten minutes and it changes. it's always a pleasure having you on that i hope you come back frequently. >> anytime you ask, i'm here. >> careful governor and the careful. [laughter] we will have more "varney" after this. ♪ ♪ ♪ ♪ ♪ .
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stuart: just want to remind everybody that tomorrow is primary day. eight states there will be primaries in eight states. montana, iowa, the big one of course is california. by the way, i should tell you that tomorrow on this program, 9:00 to 12 eastern time, we will have travis allen and john cox. both guests on this program. they are the leading republican candidates in a very crowded field for the republican nomination to be the gubernatorial candidate. that's the standings as we speak. 33% to gavin newsom. ashley: it is interesting. all that gavin newsom wants is republican to go up against because the way politics work in california. the worst thing for newsom is
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villaraigosa. stuart: liz: you wonder if the democrats will shoot their feet off tomorrow, the way they have been running this whole primary right now. stuart: it will be very interesting. i'm sure results come through late tomorrow night. we'll have candidates tomorrow. neil, it is yours, sir. is. neil: we're following that. we're following a run-up in the dow, despite trade concerns, confusion ahead of a big primary day. north korea making overtures to some not so friendly nations, at least not so friendly to us. we're on top of that it is supposed to be gyrating stocks negatively, it has a funny way of showing it. blake burman from the white house. including important powwows going on eight days from the singape summit. reporter: neil, 45 minutes from now president is expected to have lunch with vice president pence and defense secretary james mattis. talking about the way forward with the summit expecte

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