stuart: and good morning, everyone. everyone's talking about the inspector general's report and so are we. bottom line, in my opinion, and this is based on the fact that is remerging from the report, there were, indeed, rogue elements within the government that tried to shield hillary clinton and undermine donald trump. the president tweeted this this morning, the ig report is a disaster for comey, his minions an sadly the fbi, comey will go down officially as the worst leader in the history of fbi. i did a great service in firing him. great instincts, christopher wray will bring it back proudly. we are on this throughout the show today. and this too, we have slapped a 25% tariff on $50 billion worth

of goods coming from china. beijing is expected to respond very quickly, perhaps canceling their promised extra purchases of american products. inveors don't like that. half an hour from now they'll be a triple-digit for the dow, 200 points down. we have seen this kind of reaction to trade news before. previously it's been audiotape one-day wonder, we have a growth rate of 4%. let's see how we close today. it's friday june the 515th, varney & company is about to begin. ♪ ♪ >> we had stuart varney. >> by the way he is great. >> that little part -- >> he's right. he knows what he's talking about. [laughter] stuart: well, well, well. liz: happy friday to you,

stuart. stuart: extraordinary day, thank you, mr. president. president trump gave line view to "fox & friends" earlier this monday, hit fbi for handling of hillary e-mail case, he complemented me, you saw it. much more of the interview throughout the morning. the president is expected to speak to reporters shortly. if he does, we will take you there and you can see what he has to say. let's get to the market, we are heading south right at the opening bell. we are down 190 points. trade war fears, that's hurting stocks this morning. the president is speaking again, let's go to it. >> i think that james comey was unfair to the people of the country. what he did was a disgrace. he goes down as the worst fbi director in history by far, nobody close, i think i did the country a tre ous favor by firing him. if you take a look, when he totally exonerated her, i call her comey 3, comey 3, you

had one, two and comey three. if anything you said is correct, they tried to pretend it didn't happen. they tried to pretend the exoneration didn't happen. the exoneration was incorrect because there's no way they could have checked that number of emails in just a few days. if you remember just before the election, he went out and exonerate her and they didn't talk about it. that was the greatest political mistake. with all of that being said, i won wisconsin, i won michigan, states that a republican hasn't won in many decades, years. she didn't do a good job and you never gave me credit for doing a good job. [inaudible conversations] >> there was a fox report -- fox news report that the deputy attorney general rod rosenstein

is pushing back and threatening to investigate the congressional investigators who just want documents, do you think that that's appropriate? >> i hope that's not so. i know they are getting documents and i purposely -- look, if you see what i have done with north korea and state department and mike pompeo, i have this running so well. i have purposely because of the witch hunt, i will say i'm going to stay away from the justice department until it's completed. that doesn't mean i have to. i can get involved but i don't want you people saying that i'm interfering or doing anything. i think the report yesterday maybe importantly and exonerates me. there was no collusion. there was no obstruction and if you read the report you'll see -- [inaudible] >> wait, wait. what you will really see is you'll see bias against me and millions and tens of millions of my followers that is really a

disgrace. >> and mr. president -- >> and yet, if you go -- and yet if you -- and yet, if you look at the fbi and you went in and you pulled the fbi, the real fbi, those guys love me and i love them. >> are you thinking of -- >> no, i think the whole investigation now is -- look, the problem with the mueller investigation is everybody has got massive conflicts. you have wiseman who was at hillary clinton's funeral, her party that turned into a funeral and they were screaming and crying, they were going crazy. how can you have people like this. i call them the 13 angry democrats. you have tremendous animosity. here is the good news, i did nothing wrong, there was no collusion, there was no obstruction. the ig report yesterday went a long way to show that and i think that the mueller investigation has been totally discredited.

[inaudible] >> spoken so passionately about the circumstances that led to otto warmbir, in the same way you are defending kim jong un's human rights weapons. >> you know why, because i don't want see you and your family destroyed by nuclear weapon. i want to have a good relationship with many other countries and what i've done if you remember, if you're fair which most of you aren't, but if you're fair, when i came in, people thought we were probably going to war with north korea. if we did -- quiet, quiet, quiet. if we did, millions of people would have been killed. i don't mean -- 28 million people miles off the border. who knows what would have happened. i came in that's what i

inherited. that should have been solved long before i got there. i did a great job this weekend. the fake news said, oh, you met. the only thing that i saw i gave up, he gave up so much, i met, i met, we had great chemistry. you haven't had a missile test in test, a firing, a nuclear test in 8 and a half months, you haven't had missiles flying over japan, he gave us the remains of a great heros, i have had so many people begging me, parents and fathers, mothers, daughters, sons, wherever i went could you please get the remains of my boy back. they are giving them back, nobody thought that was possibly. wait. excuse me, wait. they are doing so much for us and now we are well on our way to get denuclearization and the agreement says they'll be denuclearization. nobody wants to report that.

so the only thing i did was i met, i got along with them great, he is -- we have great chemistry together. that's the good thing. >> mr. president -- [inaudible] >> love his people if he's killing them? >> i can't speak to that. we signed an incredible agreement and it's great and good for them too because north korea can develop and north korea can become a great country economically, it can become whatever they want but their won't be nuclear weapons and won't be aimed at you and your family. [inaudible] >> why did you offer to halt the military exercises in south korea? >> that was my offer. you want to hear? okay, i call them war games. i hated them from the day i came in. why aren't be reimbursed? >> they use it too. >> they might use it. we pay for it. we pay millions and millions of dollars for planes and all of this, it's my term. i said i'd like to halt it

because it's bad to be negotiating and doing it, it costs a lot of money. that's a good thing for us. go ahead. >> what did you mean just now when you said you wished americans would pay attention -- >> i'm kidding, you don't understand sarcasm. >> who are you with? you're with cnn. >> there are a couple of different -- a few different -- [inaudible] >> a few different court cases going on. there's high-profile court cases going on. you've got former campaign manager, former lawyer, they're all dealing with legal troubles, are you playing close attention? >> i feel badly about a lot of them. i look at some of them where they go backs 2 years like manafort has nothing to do with our campaign but i feel -- i tell you, i feel badly about it. they went backs 12 years. paul manafort worked for me a very short period of time.

he worked for ronald reagan, bob dole, john mccain or his firm did, 49 days or something, a very short period of time, i feel badly for some people because they've gone backs 2 years to find something about somebody, i don't think it's right, i don't think it's right that they burst into a lawyer's office on a weekend and early in the morning, i never heard of that before. i mean, could you imagine if they burst into barack obama's lawyers' office, it would not be acceptable. i mean, that's really a terrible thing. i feel badly for a lot of those people, i feel bad for general flynn, he's lost his house, he's lost his life and some people say he lied and some pay say he didn't lie. i mean, really it turned out maybe he didn't lie but -- who has lied more than comey. i mean comey lied a tremendous

amount. >> since you say that you feel badly, is there any consideration at any point of a pardon for any -- >> i don't want to talk about that. i do want to see people treated fairly. that's what it's all about. i mentioned the other day, you saw what i did with the woman, she's in jail for 23 years on charges where other people are out in 3 months. i thought it was unfair. she had another 20 years left, okay. 63 year's old. >> about folks that don't have kim kardashian on their behalf. >> i'm looking at them too. [inaudible] >> are you worried that mike flynn might flip? >> i didn't do anything wrong. it's really nice -- i haven't spoken to michael in a long time. >> is he still your lawyer? >> no, he's not my lawyer anymore. i always liked michael and he's

a good person. excuse me, do you mind if i talk? >> i want to know if you're worried that he will cooperate. >> no, i did nothing wrong. >> got it. [inaudible] >> did you dictate the statement about donald trump? >> let's not talk about it. you know what that is irrelevant. it's a statement to the new york times, the phoney, failing new york times, wait a minute. >> it's not a statement to high tribunal of judges, that's a statement to the phoney new york times. in fact, frankly he shouldn't speak to the new york times because they only write phoney stories anyway although yesterday they wrote -- [inaudible] >> on ig report you said twice now that it exonerated you and proved there's no collusion. it had nothing to do with -- >> take a look at it. take a look at the investigation and how it started, take a look

at the horrible statement that is peter strzok and chief investigator and take a look at what he did with hillary clinton -- >> that has nothing to do with collusion. >> you're asking me about peter strzok being fired? >> i'm amazed that peter strzok is still at the fbi and so is everybody else that read the report. i'm talking about long before the report. peter strzok should have been fired a long time ago and others should have been fired. [inaudible] >> i'm looking at scott and scott has done a fantastic job at epa but -- we will make -- i'm not happy about certain thicks i will be honest. excuse me. i'm not happy about certain things but he's done a fantastic job running the epa which is very overriding but i am not happy about it. i hope not. [inaudible]

>> do you agree with children being taken away -- >> no, i hate it. i hate the children being taken away, the democrats have to change their law. that's their law. >> quiet, quiet. that's the democrats' law, we can change it tonight, we can change it right now. you need their votes. the democrats, all they have to do -- >> you control both chambers of congress. >> excuse me, by one vote, we don't need it, we need 60. we need a one vote, we have one-vote edge. we need 60. we need 10 votes, we can't get from the democrats. wait, you can't do it through executive order. [inaudible] >> can we do one question at a time? the children -- the children can be taken care of quickly, beautifully and immediately, the democrats forced that law upon

our nation. i hate it. i hate to see separation of parents and children. the democrats can come to us as they actually are in all fairness, we are talking to them and they can change the whole border security, we need a wall, we need border security, we have to get rid of catch and release. you catch a criminal and take his name and release him and he never shows up again and goes into society and we end up getting them in a different way, often times when he's killed somebody. we have to change our laws. the democrats have control because we don't have the votes. the republicans need -- we need more republicans frankly and that's why i think we will do so well in the midterms, that and because -- wait, that and because we have the strongest economy in the history of our nation. we have the best jobs' numbers in the last 44 years, top of drudge. the best job numbers in 44 years. >> and mr. president -- [inaudible] >> zero tolerance policy at the border on may seventh. >> he's following the law.

he's following the law that was -- >> direct order -- >> can i answer your question? you're asking me the same question over and over. he's following laws very simply that were given to us and forced upon us by the democrats. >> but there's no law that says families have to be separated. >> i want the laws to be beautiful, humane but strong. i don't want bad people coming. stuart: the president there halted in full stride, i think we've got him back. let's go back to him. >> mr. president. at the end of "fox & friends" interview you said you were going to spend father's day weekend doing work and call with north korea, who are you going to talk to in north carolina -- north korea? >> i will speak to my people and we now have a very good relationship with north korea, when i came into this job, it looked like war, not because of me, if you remember the sit-down with barack obama, i think he will admit this, he said the

biggest problem that the united states has and by far, the most dangerous problem and he said to me that we've ever had because of nuclear is north korea. now, that was shortly before i entered office. i have solved that problem. we are getting it memorialized and part of the reason we signed document, but you know what, more importantly than the document, more importantly than the document i have a good relationship with kim jong un. that's a very important thing. i can now -- wait. i can now call him. i can now say, well, we have a problem. i told him, i gave him a very direct number. he can now call me if he has any difficulty. i can call him. we have communication. it's a very good thing. people are shocked that this is -- they thought trump was going to get in and start throwing bombs all over the place, it's actually the opposite. we are building a military so strong, $716 billion, next year

700, we are building military so strong, nobody is going to mess with us. you know what, i never want to use it. quiet. [inaudible] >> what's the verification process -- >> we will have a very strong verification process. if you read the agreement which most of you didn't, point after point after point he gave including getting back remains of great heros, of our great, great heros which made some people a crying so happy. point after point, all of them you met, he's terrible. of course, i met, heating -- meeting is a good thing. i spoke with china, they are very happy. now they may not be as happy today because of what i'm doing with trade, you probably heard

that. i assume it's been announced by now but we are putting tariffs on $50 billion worth of technology because we have to but china has been terrific, president xi has been terrific, president moon, we are all working together because of me. >> how long will you give kim jong un to follow through on denuclearization? >> well, we are working as fast as possible. we are working it as fast as possible. we are working that -- we are working denuclearization as fast as possible. >> are you plan to go meet with putin this summer? >> it's possible that we will meet. this all started because one of you asked should putin be in the g7, i said no, g8. a few years ago putin was in what was called the g8. i think it's better to have russia in than russia out because just like north korea, just like somebody else, it's much better if we get along with

them than if we don't. so it's possible. president obama lost crimea, just so you understand. long before i got there. i want to make it so the fake newsprints it properly. president obama lost crimea. wait. that's his fault. because putin didn't respect president obama. president obama lost crimea because president putin didn't respect president obama, didn't respect our country and didn't respect ukraine but president obama not trump, when it's my fault i will tell you, but president obama gave away -- now president obama by not going across red line in the sand that he drew, i went across it with the 59 missile hits but president obama when he didn't go across the red line, what he gave away, nobody even knows.

one more time, president trump gave away crimea. [inaudible] >> thank you. stuart: i hope you were watching that because that was historic. that was president trump right outside the white house being i supposed interview by the white house press corp., you don't see that thing any longer, the media exposed content for the president and rudeness in a way which we have not seen since yesterday's press conference with sarah huckabee sanders. more on that later. let me wrap this up, what the president had to say, number one, he said that the mueller investigation has massive complex within it and he, president trump has been totally acquitted or what was the exact word -- liz: exonerated.

stuart: totally exonerated from the mueller thing. he also said that president obama lost crimea because president obama was not respected by mr. putin. he doesn't like the separation of families at the border, putting children on one side and the mothers and fathers on the other. i hate it but that's a democrat law that created it. most of this press conference, however, has to be about the rudeness of the press. they wouldn't let him talk. they wouldn't let him answer a question. several times he had to say, quiet, be quiet, forcefully to get them to shut up. what a display. my colleague jason is with me. chaffetz, sorry, jason. i'm all bound up. i have never seen anything like that. >> donald trump uncut like that raw just seeing it like it is calling -- i mean, that is -- it's entertaining. it's who he is.

it's very revealing and illuminating and it was an embarrassment what the media -- they couldn't control themselves, they wouldn't let him answer a question. he wasn't -- completely one sentence and next thing you know they are trying to interrupt him. but you can tell who is in command. he's moving the country in the right direction. the economy is going in the right direction, i think this tariff issue is a big story line and also north korea. he's very proud of the fact that he has this relationship with north korea. stuart: media seemed eager to have a go at him in the separation of families at the border, go at him about the summit, but there wasn't a single mention, i didn't catch a single mention of the extraordinary performance of the economy. ashley: no. liz: he tried to hit on it towards the end. stuart: the media didn't want to know about it. there was not a single question -- liz: we are heading for 4% growth. stuart: i think we are at 4% at the current quarter.

not a word from the media. extraordinary stuff. last word, i have to go to the market pretty soon. >> me must have had a good birthday, things are going well in the new year. >> he's back from the summit, he's back from g7, he's striding across the nation and commands the attention of everybody, i mean, just look at that. >> and the ig report that came out, i think, really showed the animus and the aggressive nature, sad day for the fbi but it's the first day of making it better. you to clear those people out. they should be held accountable and prosecuted but i think if you're donald trump, you're looking at it and saying, i was right, there really was this -- this prejudice against me. stuart: i will go further, the may point that i picked up on that ig report and i want to see if you agree with me on this, yes, indeed, there was an organized effort to shield hillary clinton and, yes, there was an organized effort to undermine the incoming president. >> absolutely, remember peter strzok is not in charge of fish

and wildlife. counterintelligence of the federal bureau of investigation. stuart: in charge of the clinton probe. i can't remember the exact sequence but it was lisa page who said something, he's not going to become if -- is he, noe won't, we will stop it. liz: the probe does not exonerate about collusion but certainly does show instances of bias throughout. stuart: all right, let's get to your money. heavy dose of politics. do we have -- jack, we are glad that you are here. a come of things before the market opens. we will be down 190, maybe 2000 points. i take it that's the trade dispute with china which ratcheted it up this morning, is

that it? >> that's it. actually quite frankly, stuart, i'm surprised we are not down more. it's a big number. will likely escalate, one that, you know, is going to upset a large-cap stocks certainly and one that is probably been weighing on large caps relative to small caps now for the last month and a half or so. stuart: by the way, china has announced to design retaliatory tariffs. so there is a tit for tat going on but we are down now 175 points. but, jack, let's not forget the other side of the economic coin this morning which is we appear to be in the middle of 4% annual growth for our economy and that is very, very strong. >> remarkable. yeah, and that's the thing. we -- finally, it looks like the tax cuts are taking hold, we are seeing corporate spending going

on, plans for capital expenditure, that's great news. near term, however, can the economy sustain 4% growth for a quarter, absolutely. i don't think we can sustain 4% growth for 3 or 4 quarters without really pushing inflation. we have to balance but i think that's good news overall, certainly. stuart: jack, stay there, the market is about to open, before we two to wall street, i want to go to hillary vaughn at fox business network who is at the white house. hillary, i think you were part of the gaggle that was going on there, if you want to call it that, it's historic, what happened? >> it was quite a scene. this is the first time that the president has come out here and done a gaggle on the north lawn and it was very reminiscent of donald trump that that's we saw on the campaign trail where he is talking to the press, engaging with the press, firing back, taking question after question after question. it felt like a full hour of questions but probably about 20

minutes worth, you guys saw it live and you could see that the president is facing the press for those who have criticized him about hiding out in the oval office and firing up tweets. he's not afraid to get face to face with the press facing really tough questions about north korea and his decision to engage with leader kim jong un, he said that he would rather have a good relationship with north korea than have a nuclear bomb kill any member of the press' family, really sharp language coming from the president. really frankly speaking to them about his decisions and not walking back any of the movements that he's made over the past few days and so it's interesting to see the very energized engagement of the press, maybe a foot or two in front of the president of the united states and he's given it right back to them, they didn't go easy on him. so i think the main thing here is you're seeing is that the

president is back and he is holding nothing but, he's definitely ready to engage the press and speak his mind and defend the decisions that he's been making over the past several days whether it's flapping the $50 billion in tariffs on china to engaging north korea, to talk about potentially meeting with putin. he also said that on father's day he will have a call with north korea, a lot of headlines working way through. stuart: got it, hillary vaughn right in the middle of it. we have 45 seconds to go and this market will be opening up this friday morning. it has been a tumultuous day thus far. in the background to the market and we are going to be down at the opening bell. in the background is the imposition of 25% tariffs by our president on $50 billion worth of chinese import to america. immediately responded to by china who came back and said that they have announced retaliatory tariffs so it's a

tit for tat situation, we are right at it as we speak. the market opens in 10 seconds. it's friday morning, june the whatever it is. fifteenth, i think, we will be down down 180 points which is about to ring and trading starts now. off we go, ladies and gentlemen, we are up and running and i'm looking at the board and looking it go down. not all of the dow 30 stocks have opened so far, about, about a third of them are not open and we are down 100 points, okay, down 106. that total is mounting, down 107, 106. that's where we are. still not open, still not all of the stocks open, down 118, we are down 130, down half percentage point with 5 or 6,000 dow stocks to open. how about the s&p 500? where is that this morning? are portionately it's down less. down about one-third of 1%.

how about the nasdaq? down .4%. we are down all across the board with a lot of selling concentrating in dow 30 stocks, trade wars that are dragging the market this morning, that's the principal reason for downside move friday morning. well, what a day, who better to discuss it then than elizabeth mcdonald, ashley webster, jeff sicka and david deets and jack still was. let's get started, david, we have not talked about so far is the extraordinary growth rate of the economy which you have been right on, will that stabilize the market when the news sinks in that we have 4% growth? >> we have a couple of issues here. certainly no one should be selling the market based on latest trade war news. i mean, basically at the end of the day both china and america realize they win by trade.

it's not the beginning of the end. stuart: jeff sica, in the past the developments have been a one-day wonder. >> they have been, not to pour cold water on this but the reality -- [laughter] >> god forbid i ever do that. the reality of this is that there's an anticipation that it's going to go from 250 billion to -- 50 billion to potentially 100 billion and more, keep in mind a trade war will mean tax -- will be like a tax on consumers and the consumers have driven this market. liz: understood. gary cohen agrees with you. china is saying we will buy $70 billion of u.s. goods, that's off the table if those tariffs go into effect. the point being, china could come back and say we will buy $100 billion of u.s. goods. it's a process, negotiating tit

for tat. ashley: i think the market is getting used to a world where donald trump and his negotiating tactics, this is back and forth, tit for tat with china, ultimately it gets resolved but in the interim the headlines, yeah, they shake the markets for sure but i don't think it's going to derail them by any means. stuart: jack, still with us, we talked to you before the market opened, you're not surprised that it has not gone down more, you think it should be down some more on the trade news? >> yeah, well, i think that investors are probably waiving offer a lot of the news as you mentioned this is headlines rhetoric, it's not necessarily policy. but i do think this is one of the things that, you know, that does bother mement i do think that if you really ask democrats and republicans and most americans they do believe that china is unfairly trading with us and they are taking our intellectual property and so forth and so the question is are we willing to make sacrifices in

the short term to really reconcile and really balance things longer term and, you know, we will have some short-term pain but perhaps get this on the right path longer term. stuart: that's interesting. right now we are at 25,000 on the dow, down 155 points. the other issue on the table, we mentioned it briefly with david deets, that's our growth rate. we are towards the end to have second quarter as we speak, looks like we are on pace for a 4% growth rate annualized during the current quarter. are you going to pour cold water on 4% growth? >> i'm not going to do. [laughter] >> keep in mind -- maybe i am, avalanche of cold water to pour on it because the consumer, the consumer is responsible for the growth rate and if the consumer is in any way affected by the tariffs, then we will not see the 4%. stuart: marginal effect. >> to be fair i will say that i

anticipate 4% growth rate. i think that tax cuts were tremendous for the consumer. i just don't want to see -- liz: joblessness. joblessness rate going down. blue-collar worker spending. that's a big deal. they tend to spend more income because they need to. spending is driving the growth. >> i will pour cold water on those nay sayers who say the tax cuts did nothing for the more than people, it will not help the economy. point of fact, tax cuts was one of the best job markets in decades is really turning this around. stuart: interest rates have not risen sharply. yes, the federal inched it up and can you show me the yield on the 10-year treasury. it's not close, 2.90, can you show it to me? 2.91. 4% growth and almost a tenth of a point.

ashley: it could get to 3.2, 3 and a half percent. stuart: we have 3.8 unemployment, near 4% growth rate and the yield on the 10-year treasury is 2.91. come on. >> europe has hit pause at best. german bond -- stuart: jack, go ahead. >> exactly right. the federal reserve does not control the 10-year. the european central bank and the european bond markets control the 10-year and so when mario droghi came out yesterday and said shall remember rates will stay at 0% for another year, 10-year treasury went down. here is the thing, a lot of bond watchers are looking at the slope to have yield curb, the yield differential between 10-year and 2-year.

if that flattens or inverts that will send animus single to the markets. the simple fact it won't. it's meaningless because it's not at the at the -- to the u.s. stuart: absent of that, forget about that for a second. are we going up from here, david? >> i think so. chinese concerns will dissipate. stuart: jeff sica, 25,000, on the button, are we -- >> i believe we are going up from here but i believe if this -- because we've gotten so many head from the trump's administration, if we get tariffs we will reverse abruptly. if it becomes worse than it is now and it's more than just rhetoric, we will reverse. stuart: that's your caveat. >> conditional. stuart: used to be interest rates and now it's trade. >> interest rates are big deal. as you said they have

artificially suppressed and probably will continue. stuart: i'm picking on you and your mother is watching the show. i have no shame. cue up where the president is talking about me. tell me when you have it ready and we will roll it. let's get serious for a second. radio listeners who want to know about individual stocks, can you show neglect board with the big name technology stocks. you want to know what's going on this morning. ly tell you right now, we have amazon down $13 per share, we have microsoft down -- there you go. facebook is down a buck, amazon down 12. apple is down a buck, apple down 23 cents at 11.59 and microsoft is down 50 cents at 100.92 per share. you can show me any other big movers i will read that. we are down 168 as we speak.

we had been down over 300 premarket and alphabet just moved google. moved to upside. dow down 177. do we have to sound bite? roll it. >> we had stuart varney -- >> by the way, he is great. i love stuart. >> that little part -- >> he's right. he knows what he's talking about. [laughter] stuart: did you catch that? he knows what he's talking about. [laughter] stuart: we will play that every ten minutes. [laughter] stuart: okay. i have to thank david and jeff and jack ablin, gentlemen, thank you very much, indeed, it was a big day and we really appreciate your performance today. again, the big board shows a loss, 168 is where we are right now. right at 25,000 on the dow. there will be, i promise you that, more varney after this.

stuart: remarkable scene, president trump held what you might call a scrum with the media. >> i don't want to see a nuclear weapon destroy you and your family. i want to have a good relationship with north korea. i want to have a good relationship with many other countries. stuart: okay. quite something. what a scrum. ashley and i are sitting here, we watched the scrum, if i can recall it that. ashley: fascinating. the thing that was frustrating about it is every time he tried to answer a question, they shouted over him after he delivered one line.

give him a chance to answer. yes, you're absolutely asked. he was asked pointedly why are you friends with a guy whose human rights records in north korea is so horrible? he said, well, i'm trying to save you and your family from nuclear weapons, from being bombed by this guy. stuart: this was his way of going right back at the media which have been pressing him and finally he says, be quiet, he said that twice. ashley: he did. stuart: i don't want you and your family harmed by a nuclear attack. ashley: that's a good answer. look, he can't do anything about the human rights situation, what's the alternative? be back where we are, tensions in the korean peninsula, threats of nuclear war, he's trying to get it solved. anyway, fascinating, government like you've never seen it before. [laughter] ashley: i really enjoyed. stuart: a presidency like you've never seen before. congressman french hill, republican from arkansas is with us now, you're in a race against

the democrats come november but i want to talk to you about what the president just said about north korea. seemed to me like it turned very much to his advantage. the media doesn't like the summit, doesn't like shaking hands with kim jong un but the president bushed right back at them. is he looking good in your election campaign because of north korea? >> morning, stuart, well, i think the president was right. i commend him for reaching out to try to solve this puzzle that we've had for 70 years. but it is an area where we have to trust but verify. so we need to keep the sanctions strong, we need pursue all of our diplomatic and economic work. and i think we will be negotiating from a period from absolute strength. >> the democrats, by the way,

are weak on immigration. they were all saying about separating the families and that's a democrat bill, that's democrats wanting to do that and they could solve it easily by getting together. they it's a good election point, i think it's a horrible election point. stuart: there's immigration vote in the house next week, are you going to vote for it? >> well, we've just gotten the draft bill overnight that's supposedly a compromised bill that reflects the president's objective it was four pillars and equitable for daca, full border security with the money obligated in advance and be spent in advance of any other change and into diversity lottery program and a move towards merit-base immigration but, stuart, we have gotten overnight and that's what i'm going to spend my weekend taking a look at to compare that to the goodlatte bill that we have been talking about in the last 2 or 3

months. stuart: i don't know if you saw the scrum, congressman, repeated question which came up from the media was what about the separation of families at the border. the president replied, no, i hate it. that's a democrat law. they did it, what say you? >> well, that is enforcing current law that if you're brought in illegally and you're transferring or trafficking a child, the plan according to u.s. law to put kids in foster care custody while the parents are adjudicated and doesn't seem fair, doesn't seem right. the work we are doing in the house is try to remedy that and be able to adjudicate those families quickly, have those that need to be deported deported but take care of the family issue. the president hit it about right on that subject. i didn't hear the scrum because i was in a meeting talking about 4% economic growth. [laughter] stuart: the president mentioned that as well, by the way. democrat running for republican

held house seat in central arkansas. your opponent, by the way, he's distanced himself from house majority leader nancy pelosi in the tv ad. i know you've seen it congressman, but for the benefit of the viewers, i will roll part of it again. >> congressman hill opened campaign by attacking me knowing full well that i've said from day one that i won't vote for nancy pelosi, we are better than that. stuart: a democrat running away from nancy pelosi won in pennsylvania. the democrat running against you in arkansas is running away from nancy pelosi. you have to fight that. >> yeah, it's not believable. it's bait and switch no matter how you slice it, democrats who are trying to take the house are going for pelosi agenda of rolling back our tax cuts an job's act, rolling back economic performance. you mentioned connor lamb, he's voted with her 90% so far since

he's been in congress. not bleefnl. -- believable. stuart: you mentioned you were in the meeting during scrum about 4% growth, what was the meeting about? >> how do we continue to make regulatory reforms -- we are talking about a job 2.0 bill that will work with the senate that will increase capital market ideas that follow on what we have done in banking reform by repealing bad parts of dodd-frank. stuart: congressman, we appreciate you being with us this morning on an exceptional busy day. i'm sorry we dragged out out of the meeting of 4% growth. >> i like 4% growth. stuart: we have, indeed, invited french hill's opponent democrat tucker to come on the show, we have not heard back from him. check that dow. coming back a bit. down close to 200 points earlier

and still a preponderance of red among dow 30 but we are down down 140 points. that's roughly a half percentage points. >> dragging the dow, the caterpillar, cisco, boeing. >> we quote caterpillar and boeing, two of the biggest losers of the dow and that's because of the trade spat with china. we will be back, more varney after this. i forgot. chevy also won a j.d. power dependability award for its light-duty truck the chevy silverado. oh, and since the chevy equinox and traverse also won chevy is the only brand to earn the j.d. power dependability award across cars, trucks and suvs-three years in a row. phew. third time's the charm...

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stuart: yes, we are off the session lows, still down 140 points just above 25,000. president trump speak to reporters. i guess you could put it like that. it was a scrum and the market bounced a little bit after that scrum session at the white house. now this, "the new york times" ceo, the ceo of "the new york times" says that facebook -- facebook's fake news algorithm will damage democracy. that's what he says, the guy at "the new york times". ian myers is with us. he's been on the show several times before. can you explain to me what exactly is the times guy saying about algorithms taking over

news business? >> software that controls what we see is essentially a block box, nobody has any idea what's going in or how stories are being picked to go out. that's the biggest issue. editor-in-chief of major newspaper with a guy that nobody knew, reporters were sliding stories under the door and some stories came out and some stayed in. stuart: the censorship if you can put it like that it's algorithm. >> selection. tauter tauter calculation. >> the most important point we are not sure how or why things are being elected. stuart: we are not getting free flow of all the news -- >> that's exactly the point. what he's trying to say democracy depends on exposure to diverse perspectives and we have a lot of people on every side of the aisle discussing issues, left, right, center, that's the important point. democracy in order to flourish needs diversity and perspectives

and if it's feeding you more and more of what you want to see it isn't a good experience. stuart: on a similar vein here, facebook executives, they will meet today with gop leadership and they are talking about the censorship of conservative opinion. what do you say about all of this? >> i mean, the algorithms are being based on what they like. right after people began to complain heavily about sen coring the conservative news, whether that's a response to that i'm not sure but i think the users of facebook are seeing more of what they like and it's more of the tending to be left stories which are the central media. stuart: you're the exact opposite. let me try to, newspick u.s. you bring opinion from all sides and you algamate to your

website. >> you're on iphone and android, you can see the stories that you want to read, it's being select bid users, our people picking the news and so you don't have the problem with the transparency. you can see what people are reading which stories and it's much clearer. stuart: newspick's.u.s. >> or find us in app store. [laughter] >> big boost after the show last time. i almost doubled record. stuart: did you really? >> yes, we did. ashley: don't get him started. [laughter] stuart: appreciate it. we will see you again soon. my take on president trump's extraordinary impromp press conference is coming to you next. so to breathe better, i go with anoro. ♪ go your own way copd tries to say, "go this way." : .

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hold one moment please... [ snap ]

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president trump went at it with the press. >> i don't want to see a nuclear weapon destroy you and your family. i'm kidding but i always liked michael. >> do you mind if i talk. i'm -- you are asking me a question that i'm trying to answer it. >> that was a draft order. >> ten i ask -- can i ask you a question. stuart: the media was out right rude to him. asking him question and cutting him off when he tried to answer. the president went toe to toe, not letting them off the hook. what you just talking about 18 hours after this from brian karam, a playboy playboy reporter who also serves as a

repentant. >> , and sarah, you are a parent. don't you have any empathy? >> settle down. i'm trying to be serious. >> these people have nothing. >> brad, i know you want to get smart tv time but i'm not going to recognize you. go ahead joe. >> this is a serious question. these people have nothing they come to the border with nothing. you are a parent to children. don't you have any empathy for what they go through. stuart: that was a white house press conference. my conclusion, the media is flat out out-of-control. one has a bit okay for reporters to lose it and get personal like that. answer, since donald trump became president. that same press conference jim acosta kept interrupting the press secretary. he was rude. this is the same guy who

rudely interrupted president trump's meeting with kim jong-un. what you think would happen to a reporter who interrupted president obama. it's doing the media no good at all. think about this. the inspector general had just released his bombshell report. the president was back from the summit. the economy is booming. they look for the negative. they are rude. out-of-control. what a disgrace. were only just starting the second hour of "varney and company". ♪ ♪ ♪. stuart: trust me we will have more but we have breaking news. who's on the economy.

>> booming number on consumer sentiment. it's coming in at 99.3, well above the estimates. we finished may with a strong 98. this shows even more. on the back about 4% economic growth we have consumer confidence building right now. >> this is a preliminary reading. stuart: prosperity is not a statistic, it's a feeling and it's reflected in confidence but i think we return to prosperity. president trump saw the news conference, it was yesterday. i was referring to it at the top of the hour. he sought in his what he had to say about it. >> what they did to sarah at the white house correspondent meeting, the only difference i would've done, i would've walked out. i thought she should've walked out instead of sitting there. >> that was a month or so ago at the white house press

dinner but he also responded to brian from yesterday and he wasn't very nice about it. >> sarah sanders has the patience of the saint. she remained calm during that correspondence dinner which was not much different. this has become reality television for many of the reporters. it's as though they are auditioning for their network for programming. this has nothing to do with what the job is which is a briefing of the news of the day and answering question. this is not something dictated by the constitution. it's a courtesy of the white house to provide the sprint i think they should stop. we knew this was going to be used this press secretary as a punching bag. the fact of the matter is not only doesn't help but we don't get new information.

they don't ask questions that inform the american public in a larger way, and if they provide provided, announcing don't provide news or briefings, do it on paper, do it with individuals, or have different -- different reporters should different platforms to ask questions. they need to do a rotation so people don't think this is a reality television program. stuart: i wanted play a little bit more from today's scrum, if i can call it that. the subject is north korea. roll tape. >> in the same breath you are defending kim jong-un human rights methods. >> you know why, because i don't want to see a nuclear weapon destroy you and your family. i don't want to see a nuclear weapon destroy you and your family. i want to have a good relationship with north

korea. i want to have a good relationship with many other countries. >> the media thanks every statement he makes is off-the-cuff or just because of what he thanks. there is a complicated, the book diplomatic negotiation that involves gestures to the other individual. he was also asked in singapore your legitimizing kim jong-un. if i can save 30 million lives i will get on that stage. this is a larger framework for a man who is using diplomacy, statesmanship and argument to make something important happened i could save lives. the media did not ask questions about the larger framework. they're doing it and using it as political arguments. this harms the political and informational conversation in this country. it's never about policy or the larger framework it's always a got you game whether it sarah

sanders or the president himself. he's so transparent. hearing due to spam and he's willing to do it but at some point we have to create a structure where the american people and get some information again. >> well said tammy bruce. thanks for joining us. let's check the big board. were not session lows but were down 25030, a loss of 144. two stocks dragging the dow down. caterpillar and boeing. they are reacting negatively to the news that we have a tit-for-tat imposition of tariffs america on china and china on america. caterpillar is down nearly 2%. that hurts the dow for the price of oil on the downside losing almost a dollar at $65. share. microsoft is taking on amazon. joining us now is managing

director. microsoft is going after amazon which is leading that field. is microsoft equipped to do it? >> quickly before we jump into that i will put some context as to why microsoft is doing this. traditional brick-and-mortar hasn't changed much over the past 50 years. the credit card has been introduced but the opportunity to go into a store and pick something up and walk out is very big. we estimated the 50 billion-dollar opportunity. there's many to check out at grocery stores and convenient stores. there is an opportunity to really change that whole game. that's why microsoft is getting into it. they are woefully late to this game. amazon has a solid five-year lead. >> from what microsoft is trying to do is develop

software that's comparable and better than amazon. you are saying it's going to take a long time to get in that position, is that correct? >> that's correct. part of the reason is there is a retail piece that amazon's been doing for a long time, understanding the nuances of retail. this is not just a software question. this is an ai question. what they essentially uses computer vision, the ability to understand what someone is picking up and that something that amazon has done a lot and retail. i don't know if you've done the amazon after you capture an image and amazon can tell you what that is. they have a lot of learnings they can apply to these check out free stores. microsoft is essentially starting from scratch. stuart: are you saying they want to use ai so they know what a consumer is going to pick off the shelf or why they like it?

that kind of thing? >> it's a little bit different than that. what this is is when you pick up an item you need artificial intelligence to understand what the item is because it's not clear from these cameras that are up in the ceiling. they need to use artificial ai to actually make sure they have the correct item. it's more about that than predicting what were going to purchase. >> is going to turn to tesla but i'm afraid i'm out of time. when a president holds a 20 minute scrum at the beginning of your program, you tend to get all congested. we will talk tesla next time. that's a promise. >> we got much more for you coming up. for example, congressman jim jordan knows he has a lot to say about the inspector general's report on the fbi. we will cover everything from peter struck to president obama. that's next. facebook executives on the hill meeting with republican leaders including the campaign manager. this is all about bias against conservative content. a new report says the ice is

melting faster than ever before contributing to rising sea water. author of the politically incorrect guide to climate change said this is all political he will make his case. it's father's day this weekend. we are honoring dads showing pictures of our production team father's this morning. happy father's day to everyone. hi, i'm joan lunden with a place for mom

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>> by the way he is great. i love stuart. he knows what he's talking abou about. stuart: you can for a lot of people a lot of the time. [laughter] look at the screens. we are down along 160 points of the day at 25000. let's move on please. here's president trump commenting on peter struck. >> i am amazed that peter struck is still at the fbi. and so is everybody else that read that report.

and not even talking about the report that i'm talking long before the report. he should've been fired a long me ago. stuart: he had a lot to say about the inspector general's report. let's go to ohio congressman jim jordan. i don't need to reset your credentials, that's a fact. >> and a friend of stewart. >> and go through the main characters in the report one by one. i want your comments on what's going on with them. first of all, agent peter struck, go. where does he stand. >> he still employed at the fbi, one of the few who were part of this group that ran the clinton investigation and rush investigation. he is a central figure throughout the entire narrative. she still employed and frankly the presidents) i don't know why he still working at the

fbi. stuart: are you convinced he was part of a deal to shield hillary and undermine trump? >> on july 31 he ran the clinton investigation and open up the rush investigation eight days later we get a text message where he said will stop trump. not we'll stop russia. six days later we have the text message that talks about insurance policy, two weeks later the e-mail that says president trump wants to know everything were doing pretty that doesn't look like, that's cause for concern, just those four messages in the sequence they were in. i think it's a real problem for him in the presence right, he should be at the fbi. >> i want to raise the point about this lawyer who eventually worked for the muller team. he said trump supporters are all poor to middle-class uneducated and he thank they

think he will magically grant them jobs for doing nothing. he worked on the muller team. the clinton fbi department of justice investigation has actually bled over into the muller investigation. >> not just lawyer number two who you're referencing, but also peter struck and also lisa. they hadn't animus toward president trump. they were all involved in the clinton investigation. they all three moved to the rush investigation. lawyer number two was the primary lawyer on the rush investigation. and imagine this. all three of them go on muller's team. obviously there removed from the team was discovered how much they district liked the president. i think it's interesting that they all go to the muller team. stuart: it's extraordinary. tell me about hillary clinton. as i read it secrets were on her private server and that private server was hacked by

foreign agents, correct. >> this was thorough, this was as hard-hitting as it can be. i read the one when the irs was targeting. [inaudible] this is as hard-hitting as it gets. i think what we've gotten into , they'll be a hearing next week and we can ask all kinds of questions but this does not paint the fbi in a good picture. stuart: that brings up james comey, former director of the fbi, is he completely finished. >> i thought he screwed this investigation up before. i think all the report did was confirm what we already knew. we knew he screwed up from the get-go. he's been fired, the deputy director has been fired, jim baker former chief counsel has

left the fbi, lisa page was demoted and left, peter struck was demoted and is the only one still there. when you the top six people at the fbi fired or demoted or now left, that tells you something was wrong. that's why this report is so important and that's why the hearings we are going to have next week are so important. stuart: stay there for a second because president trump says he needs an immigration bill that gives us tremendous border security. i want to know if that's what jim jordan is working on. we will deal with that after this. ♪ ♪ ♪ man: i got scar tissue there.

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>> we are concentrating on the important news of the day, tariffs and trade in the stock market selloff, but we bring you this. remember those, now you see them everywhere. the stock is at the highest level since the stock started trading in 2017. they've made a surprise profit and it's up 22%. let's get back to reality. here's the president on the house gop integration felt next week. >> it seems strong on immigration wins. this is the democrats who are very weak on immigration. if you notice when i came over they were all saying about separating the families. that's a democrat bill. that's democrats wanting to do that and they could solve it very easily by getting

together but they think is a good election.i think it's a horrible election. stuart: it's a compromise that would protect dreamers and fund the wall. i think you need to have votes to get that book through if i'm not mistaken. are you going to get those votes? >> i think the president was clear, he likes legislation that conservative support and it's the one consistent with the mandate of the 2016 election because it said build the border security wall, stopped chain migration, get rid of the visa lottery, get rid of sanctuary cities particles right on the list of all the things that are critical for our immigration policy and getting control of the border and then it also says let's deal with the daca population. that's what the american people elected us to do. the president is right when he says that the bill he wants. there's another bill being worked on the has some concerns were trying to make it into a bill close to that.

we will see but i support the legislation. it's supposed to be voted on next week. let's hope we can get 218 votes for that. jim jordan, friend of mine, thanks so much for joining us. stuart: facebook executives on the hill getting grilled by top republicans. this is all about bias against conservative contents and we will cover that for you.

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i feel like we heard the song just a few weeks ago. i like the harmony. in my begging for a lawsuit? no i'm not. the dow is now down 200 points. that is pretty much the low of the day down 208 and that puts us below 25000. the big tech names are down. facebook is down the dollar. amazon down seven. apple down nearly two. alphabet down three. microsoft down 38 cents. facebook executives heading to capitol hill. they will meet gop leaders. they're trying to hash out complaints over censoring conservative speech. sarah fisher is with us. do you think the facebook can satisfy the conservatives that their content will no longer be censored?

>> until they say they are a media company and they make decisions with an editorial lens, there's always going to be bias and censorship. remember in 2016 they were accused of censorship of their trending topics feature, then they were accused of censorship when they change their algorithm feature. they will have to do a lot of these talks to convince conservatives there is no bias on the platforms. >> it may convince them? >> one of the key people they will talk to is representative mccarthy who is a person who will be managing any legislation on the house side when it comes to regulate facebook. they also have to talk to brad from 2020 campaign manager. he will be a key person because remember trump basically won the election with his digital and advertising strategy and a lot of that included facebook. >> the at&t time warner merger is going to go through so there'll probably be other big media mergers as well. i want to pick up on what you're saying about netflix. a lot of people are talking and saying maybe somebody will

buy netflix. apple for example. you're saying nobody will buy netflix. is that correct. >> i'm not saying nobody will but there valuation has gotten so high that you have had a lot of cash on hand to do it. the companies that have the cash don't seem to want to buy other big content companies right now. you saw apple say they prefer to lure the talent and franchises. other tech companies seem to be doing the same thing. they're buying the rights and talent to make their own content. that's the pattern i would see on the tech side happening. stuart: sarah fisher, takes for joining us. i'm cutting this a little short because the market keeps going down as we speak. it's not your fault but we are at session) look at this. now we are down 240 points on the dow industrial print that is almost a 1% drop.

the reason here is almost certainly the trade fight with china. we have imposed tariffs on $50 billion worth of chinese goods coming here. they immediately retaliated with tariffs of their own on our stuff going there. now were down almost exactly 1%. david bronson is with us. marketwatch and big-time investor. welcome to the program. >> in the past when you have a trade headline stocks go down and usually, almost always bounce back up again by the end of the day or on the second day. will we see that happen again today. >> i don't think we will see it today. i do think over the coming days you will get some sort of recalibration of the real events going on. the reason for that is that the market ends up sort of determining that president trump is trying some form of negotiating and laughing and

flexing. in this case this is an actual imposition as before there was statement of intention and then china immediately retaliated as everyone should have known they were going to do. it's very unfortunate to me. it's really taking away so much of the wonderfully positive things the administration has done in the economy. stuart: do you think of this trade fight develops into something more serious that it could interfere with our near 4% growth? >> there's no question occurred. i'm not so certain it will because i really want to believe they will see these are counterproductive. the people there trying to help her the ones most hurt by the terrorists. if indeed we were to go forward there's no question it's contractionary. >> we are now down 1% on the dow. were down 252 points. david, i read your stuff and i

read that you like proctor and gamble. it's actually up about 40 cents .6%. it is one of the biggest gain on the dow. you like the stock even though we have a report saying sales are way down because americans are having fewer babies. i take it that doesn't get in the way of your recommending procter & gamble. >> i'm quite certain if there's any product that has for seeable and sustainable future its diapers. the fact of the matter is they are down about 15% on the year. right now they are in the early stages of what will likely be a very big reorganization. they're suggesting 61 years in

a row of increasing their dividend, this is the type of name we love. we've owned it for years. we are very confident in what their future will look like. stuart: last one, you always told us for weeks and weeks that you like the pipeline companies. are you still with them? are you still buying them. >> heavily. this is a multi- year story. this is something we think is in very early and what you have is essentially more and more oil and gas being produced in the u.s. and the need to transport it. we have a complete inadequate amount of pipelines so they're having to put it on trucks and rail which are far more expensive and also more environmentally concerning. we love the whole sector story, president trump is very friendly, his administration is very friendly to be able to export, especially natural gas and so therefore the pipeline story becomes a longer-term secular story and while we

wait you're getting dividend yields in between six and 8%. >> you don't trade, do you come you not the kind of guy who comes on this program and says you buy it today and sell it next week to make five cents. you're in it for the long run. >> that's right. our story changes and we have to make the change but were not traders, were real investors, the type of people used have on your show all the time. [laughter] stuart: here on the show all the time. >> that's exactly) that's why love being on your show. we see stuff the same. >> that works for me. take you very much indeed. we will see real soon. totally different story, several acts fit the employees facing criminal charges. >> this is between two fitness gadget companies, fit that and jawbone. jawbone went out of business last july and is now in

liquidation. the issue here, jawbone has maintained that fit that was stealing their employees and those employees took their intellectual property with them in other words stole some technology and used it for the benefit of that bit. these two companies, i've never seen, their classic hatfield and mccoy that they've sued them each other back and forth multiple times but the irony is that jawbone looks like they may have a case. even though they're in liquidation, investigations of five former employees of jawbone who are now with fitbit have been criminally indicted. stuart: criminally? that's a big part of crossover. >> they did in fact take their secrets and use it to the benefit of fitbit. at least that's what the grand jury had on the indictment. the story goes on president trump says he is amazed that

peter strock is still working at the fbi. he is the guy who texted that he would stop trump from becoming president. we will get a 30 year fbi veterans take in our next hour. a new report says the ice is melting faster than ever before in the arctic. our next guest says it's all political. he will make ou -- his case, next. happy father's day this weekend to all our viewers. how do you win at business? stay at laquinta.

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president trump and a gaggle of white house reporter in a remarkable q&a session. jason chases said it was also memorable for the rudeness of some reporters.

>> that is entertaining. it's actually who he is. it's very revealing and illuminating. it was an embarrassment with the media. they couldn't control themselves for they wouldn't let him answer question. he wasn't even completing one sentence and the next thing you know they're trying to interrupt him. but, you can tell who's in command. he's moving the country in the right direction. the economy is going in the right direction. i think this tariff issue is a big storyline and also north korea. he is very proud of the fact that he has his relationship with north korea. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level.

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stuart: close to the low of the day down 254 points. we are well below the 25000 level on the dow industrials. a new study suggests antarctic ice is melting at triple the speed of the last decade. the pace of melt has beaded up dramatically. joining us now is mark moreno who is a climate change skeptic. i read this in the new york times, the big picture of antarctica, the ice is melting double the speed or triple the speed and sealevel rates are rising. they say it's because of human activity. what say you. >> the article had to issue multiple corrections because it had all kinds of different

claims in the article. second of all in my book i go back and show that in 1901, 1922, 1979 and 2014, 2018 that they've come up with melt scenarios over and over. i also point out that in 2015, a study showed they were gaining it and actually contributing to a sealevel lowering. this new study which, by the way, it used observational data but to enhance that they used models, not even actual models and it gives them a huge fudge factor. this is only over a decade or so, a very short timescale. the next drop late into the future all these scary scenarios. 1921, they were doing the same thing. antarctica is there go to scare. see ice was predicted to

decline years ago and then we had record amounts and then they said see ice was consistent with global warming. they are jumping all over but this latest study flies in the face of studies including nasa. stuart: let me wrap this all up and generalize. we are told climate change, that the climate is changing, you can call it weather if you'd like but it's climate change and its happened in part because of human activity. due to dismissed that entirely. >> no i don't. let's put it this way. there are hundreds of impacts on the climate. you cannot distinguish humans impact from the natural variability and there's nothing unusual going on including hurricanes, floods, droughts provide detail that these are either on no trend or declining trend on climate timescale. though go five or ten years and try to cherry pick a time

frame and extrapolate and come up with doom. if you look at the last 100 years of sea level rise there's no acceleration according to gauges but they keep coming up with scare after scare in the media because scientists are driven to get headlines and attention and its speculation. it's all speculation. stuart: all relate the study at berkeley they call it mass extinction is coming in there pushing for population control. react to that. >> in my book i go back to the 1960s and i show no matter the environmental scare, famines,'s care cities, all sorts of calamities, they always had solutions the matter the scare. they always wanted central power, redistribution of

wealth and global governance. now the berkeley city council is following that same line even though the new productions of populations show a decline in population as we go forward. more portly, their own governor, jerry brown said global warming will kill 3 billion people. they're worried that overpopulation will lead to global warming but their own governor is saying global warming will kill 3 billion people. thanks for joining us. we will see you soon. >> mcdonald's exploring alternatives to plastic straws. let's ask elizabeth mcdonald to cover this. >> it's about pollution in the ocean and in our c waves. here's mcdonald's, they're

going to remove plastic straws from all locations in the uk and ireland and some in the u.s. other companies, real caribbean, alaska airlines, possibly working, california and new york are considering banning single-use plastic straws. 60million customers come into mcdonald's so there are a lot of plastic straws. stuart: i took note when you are talking about the enormous amount of plastic waste that makes its ways into the ocean. it is remarkable. >> it's the size of texas in that region between alaska and russia. it's gigantic. >> i've changed my mind on tesla, i change my mind on plastic straws. anything else? >> not yet. the uk, a british bookmaker, william hill may be become the first betting partner with the u.s. sports team. guess what. they are partnering with a

soccer team. a ceo of william hill america is next. book a flight, hotel, car and activity all in one place. ♪ i'm t he only bed that actually senses your movements and automatically adjusts to keep you both effortlessly comfortable... does your bed do that? i'm the new sleep number 360 smart bed. let's meet at a sleep number store.

let's talk about sports betting. the bookmaker william hill has become the first betting partner of a u.s. sports team teaming up with the las vegas lights which is a pro soccer team. joe is with us, ceo of william hill america. how many more deals could we see like this? this is kind of a breakthrough for you. >> i think you could see a number these coming down the pipeline with the ruling striking down. [inaudible] we've done this on a small scale where sponsor of rebel basketball, until the golden knights came to town was the team here. >> they advertise your company and got william hill on there's shirts. you pay them to wear the shirts? >> it's not on the shirt. that you know the basketball at courtside and in the ring you will see the william hill

logo coming up and down throughout the game and then at the minor league baseball teams here in town and up in reno you will see william hill billboard in the outfield. with the whites were doing a little bit more we have the signage in the soccer team, we have the signage and were also doing some joint promotion of each other. they're talking about the in play odds during the game where people can bet on the outcome of the game was going on and on game day we are swapping out some of our digital billboards around town. stuart: only jump in quickly because your company took the first legal sports but in new jersey. it happened this week. can you give me a dollar number as to how much money you think willy country will be back on sports? can you give me a dollar number. >> it was an incredibly exciting day. i think we were blown away by

the number of people who showed up at 10:30 in the morning in the summer. in the state of nevada, that's about $5 billion on sports in a year. my view is once the new jersey market is fully mature and all the operators are up and going and customers are used to it, you're probably looking at twice that. call it about a 10 billion-dollar number in a mature market. the margin on that is about 5%. we win about 5% of $500 million in gaming revenue. again, not this year, not next year but in a fully mature market. >> , which goes to the state of new jersey? >> goes to the operator. >> no, to the state. >> of course the tax revenue to the state. stuart: how much does the state get out of this? >> you generate tax revenue rather than what they get out of the black market and that

zero revenue. stuart: thanks for joining us. william hill usa. thanks for joining a spread last hour we saw trump unleashed fielding reporters questions going way off script. there was never a script to start with. an extra nine news conference, you'll see more of it after this. .

. stuart: president trump is back, and he's on fire. he'd been kind of quiet since returning from singapore, and rightfully so. the man worked at one point for 26 straight hours while. he's over jet lag bigtime, watch this. >> i'm looking at them, too. if you don't mind. [inaudible] >> one second, if you read the i.g. report, i've been totally exonerated. reporter: had nothing to do. >> no, take a look at the investigation, i have a good relationship with kim jong-un. that's a very important thing. i can now -- wait. president obama lost crimea.

that's his fault, yeah, yeah, it's his fault, it's his fault. just so you understand -- because putin didn't respect president obama. stuart: we have never seen anything like that before, have you? in fact, no president has ever done what president trump did this morning. it was an impromptu gaggle with reporters right there on the white house lawn. no topic was off-limits. this is quintessential trump. he's made his presidency a live-action tv show. he knows good, compelling tv and that's what he gives us. and answers questions directly, vigorously, going toe-to-toe with reporters on north korea, the mueller probe, his predecessors, president obama in particular he says was boring. they, his predecessors he said, droned on, didn't answer questions. they, predecessors, conducted lectures. this president doesn't lecture,

he fights and he has to. the media doesn't back down and seemingly doesn't rest. yesterday he turned 72. i don't know how he does it? the third hour of "varney & co." is about to begin. . stuart: i promised we'd get back to the president in a moment. look at this. the dow down 200 points close to the low of the dade. this is about trade and trade worries in the market. first let's get back to president trump and look who's here, ideally placed, matt schlapp, american conservative union chairman with me in the studio in new york. how you doing, matt. >> how are you, stuart? wow, you got publicity yourself as well. stuart: just a little. >> a little bit. stuart: i'll take it. i think the president this

morning totally dominated the media and put them in their place, and i think the country will love it. you say what? >> i have five kids, i don't let them act like that around the dinner table. interrupting, ten seconds into an answer and they are on top of them. this is the president of the united states, walks out to the front of the white house, with any reporter with a credential, they can ask a question. let him talk, let's hear what he has to say. he loss of that dynamic. stuart: be quiet, let me finish. >> sounded a lot like me at home. stuart: out of turn, twice, be quiet, be quiet, because he controls the situation. other presidents might be a little afraid of the unscripted freewheeling style but the president jumps right in and dominates. i want you to listen to how president trump responded to reporters' question about north korea. roll that tape, please. >> they were plotting against

my election probably has never happened like that in terms of intelligence or anything else. they were plotting against my election. i'm actually proud because i beat clinton dynasty. i beat bush dynasty, and now i guess hopefully i'm in the process of beating very dishonest intelligence, because what they did was incredible. >> you are defending now kim jong-un human rights record. how can you do that? >> you know why? because i don't want to see a nuclear weapon destroy you and your family. i don't want to see -- because i don't want to see a nuclear weapon destroy you and your family. i want to have a good relationship with north korea. i want to have a good relationship with many other countries. stuart: what do you think of that response of the rather insistent question? >> i think -- stuart: pejorative question. >> i don't know if you want to prevent her from -- [ laughter ] >> i don't know if he minded

some of the people hectoring him, had another fate. i think the president was dealt a terrible hand of cards on iran and north korea and all the smart people in government that what we did in north korea do what we did in iran, prevent a nuclear weapon, in the end, they'll get, it maybe something will happen in the intervening period of time where it won't happen. donald trump looked at that and said that's insane. if i had to stand on a stage with a tyrant and killer and dictator in order to denuclearize the korean peninsula, i'll do it. if i have to shake his hand, i'll do it. practical approach to american politics that the people appreciate. stuart: the reporters did not ask a question about the state of the economy. >> wow. stuart: just so happens, we've got close to a 4% growth rate for gdp at this moment in time, and we haven't seen that in a very long time. i think we've returned to prosperity, but not a single question about that from the

media. not one. >> this is the number one issue on the minds of americans. when you read about the terrible suicides and everything else, read about people in poverty. that happens when they don't have economic prospects. there is moral questions as well. when people lose homes and jobs, they feel forelorn and terrible about the country. you know what people think about the country now? that right track number from 25% from obama, up to 40%. people are coming back into the economy. number one problem i think next is we need more employees, because these companies want to grow like gangbusters and we're almost at full employment. these are good problems to have. stuart: not bad. >> not bad at all. stuart: big smile, matt. >> i'm happy. stuart: i know you are. good stuff. check the market again, we're still down 200 points and most of the dow 30, the 30 stocks that make up the dow. most in the red. that means they're down. it's trade worries, the u.s. is imposing new tariffs on chinese goods and responded with

tariffs of their own. it is a tit-for-tat situation as we speak. john lonski moody's managing director joins us now. the market is down on trade. but in the past a one-day wonder, bounces back either tomorrow or the day after. it will this time? >> more of the same. fairly soon we'll have administration officials come out and soothe all the worries about an all-out trade war. not forget when you are imposing tariffs on $50 billion of chinese exports that comes out to 1/10 of half a trillion dollars of imports we get from china each year. i don't think this is necessarily that great of a problem early on. what we worry about are the retaliation and round after round of tariff fights. stuart: if it gets to that. >> i don't think it gets to that, in large part because i think trump is going to listen to the market. if the market keeps moving lower, trump is going to change

his tune on this particular matter. >> the consensus is that this quarter, april through the end of june, we've got a 4% growth rate for the economy. that's very strong indeed. now are you in that consensus? do you agree we are at 4%? >> i can't argue against it. i think the important thing is the unemployment rate continues to move lower. i wouldn't be surprised if we soon have the unemployment rate at 3.5%, if not a little lower. that would be the lowest unemployment rate in 65 years. stuart: what about the growth rate for the rest of the year, if it's 4% now, very, very close to it -- >> put it this way, economic growth should be around 3%. economic growth should be sufficient for the purpose of moving that unemployment rate lower and lower, and the big surprise might be that we get it down into a range of 3 to 3.5%, yet we're not paying a price, we're very low unemployment in terms of much faster price inflation.

thanks in part to the stronger dollar. stuart: go back to the world war, second world war era. >> harry truman, dwight eisenhower started his term. >> i remember dwight eisenhower. >> so do you! >> stay put, john. kelloggs, interesting story, somewhat troubling. kelloggs recalling 1.3 million cases of honey smacks cereal, recalling them from more than 30 states as a potential salmonella contamination. this recall was issued after some evidence linked the cereal to illnesses. only down a fraction on that. all right, i want to play you this. president trump, gave me a shoutout, and i kind of like it, watch this. >> we had stuart varney on our air. >> by the way, he is great. i love stuart. >> that little part? >> and he's right. he knows what he's talking

about. [ laughter ] >> can you fool a lot of the people all of the time. extraordinary stuff. next story -- congressman steve scalise, a nice play to record the first out at the congressional baseball game, one year ago, he was fighting for his life after being shot in the hip. look at that play. that's a comeback. and this, candice owens a rising star among conservatives but getting flack for slamming the #metoo movement. candice joins us next and i want to know if she stands behind her comments. we'll be back.

. stuart: our next guest is really getting slammed for tweeting this about the #metoo

movement. here it is -- who wrote that? candace owens who joins us now, turning point usa communications director. you are getting slammed for what you wrote there. do you want to roll it back a little? walk it back a little or reinforce it? which way you want to go here. >> stuart, i'm constantly getting slammed for my tweets, unapologetically pro-trump black woman getting black people to reconsider political alliances, they are constantly looking at strong man arguments. condoleezza rice said the #metoo movement was creating snowflakes, that men were having discussions behind closed doors and didn't want to hire women.

i'm hearing the exact same thing from men. it's important that strong woman speak out and say is this movement more harmful ultimately in the end for women, and i think that right now, if we don't start differentiating between sexual assault and rape and simple flirting, it is going to be harmful. stuart: why are conservatives slamming you for what you said? . >> wasn't too many conservatives. a few. and these are people i believe wouldn't be upset if my platform diminished tomorrow, but the majority of women support me as we know. the mob is loud, the majority is silent. so many messages of support saying thank you, i've been saying this for a long time. in the comments, rape victims felt the #metoo movement diminished their rapes because everything was considered sexual assault. it's a conversation that needs to be had. i'm happy that i'm in a position where i can open the dialogue. men would like to be a part of the discussion but fearful at discussing me too, will get

them me tooed. stuart: kanye west, he got a lot of flack for supporting the president. however, i think he's got the number one album in the country at this moment. i would have to say that supporting president trump, a black man supporting the president, doesn't mean that his sales decline. i guess he kind of wing at the moment, right? >> he's got the number one album in 83 countries right now. not just the united states, very important to note. like i just said regarding the #metoo movement, the mob is loud but the majority is silent. important people are not fearful because a bunch of people go after someone on twitter. i think they were saying boycott kanye. doesn't seem the boycott was successful. i'm really proud. stuart: i thought there was talk of another summit. you, kanye, maybe charlie kirk, meeting with the president again. is that being planned? . >> so at turning point usa,

working on the first ever young black leadership summit and are working on it. i'm not sure if kanye is going to make an appearance, he will definitely get an invite, that's for sure. inspiring black people who felt they have not had a voice in the political discussion because they don't think like democrats would like them to. and maybe black people coming to the other side and interested in hearing other ideas. we're planning to do it in d.c. and going to be a success. stuart: are you leading a new movement here? young black folks who reject the generations of voting left for most black folks, is this a new movement and you're heading it? >> i would like to give credit to the trailblazers that went before me. if they didn't go through the suffering, dr. ben carson, condoleezza rice, i wouldn't be in the position to spring off of them and lead the charge. there is an ideological revolution happening in the black community. i'm not the only one, so many people thought they have their

voice, this is about thinking independently. not belonging to any movement or hashtag. belonging to your own thoughts and your own ideas and having the courage to speaking out about them. stuart: if an election were held today, there's a presidential election nationwide, what proportion of black folks would vote for president trump? >> i think right now, the democrats would probably hold 75% of the vote which is a huge difference. just so you know, they need 85% of the black vote. more than 85% of the black vote in order to win. they're doing everything they can to make sure i get shut down, that my ideas don't get heard. they have journalists harp on every single tweet and build strong arm arguments. if i'm around, they're not going to get it. stuart: that's why you are getting a lot of flack. candace, let you do the important stuff. candace owens, good stuff indeed. >> thank you, guys. stuart: look at netflix for a

moment. look at that, $395 right now. it actually hit $398. that stock has doubled since december which is six months ago and doubled. yes doubled since december. we thought we'd point that out. we missed it, i missed it, i don't know whether you guys got it. >> possible. stuart: a california man cannot evict a squatter from his own home, and now the squatter's getting free help from a taxpayer-funded lawyer. coming up. we've got the landlord's lawyer, he's going to tell us where this case goes from here. extraordinary story. president trump holding an impromptu news conference this morning and talked about all the big topics. listen to what he said did reporters treatment of sarah sanders at the white house correspondents dinner. roll it. >> what they did to sarah at the white house correspondents dinner, now the only difference i would have done, i would have walked out, i thought she should have walked out instead

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. stuart: this is happening. president trump's comments this morning on immigration have created a scramble of sorts on capitol hill. the president said he wouldn't sign the moderate immigration bill. house republicans are not whipping that bill, not organizing to get it passed until they get clouted from the white house. one senior gop aide says, quote, if that's the case, we are blanked, you fill in the blank. meaning if the president isn't behind it, the house won't pursue immigration reform. now this -- kind of an economic indicator, maybe a demographic indicator. diaper sales plunging. we are having fewer children. come back in, john lonski, moody's director. what is the trend? >> demography matters greatly for economic performance. this tells me we're going to have a slow rate of growth in the labor force moving forward.

in fact right now it's expected to grow by one-half of a percent annually, we had productivity growth of 1.5%. we end up with long-term economic growth of 2% which is far less than what we were accustomed. stuart: long-term, it crimps growth, if the trend continues. fewer baby, more old people. >> right, it tells us we're overestimating future inflation risks. the first advanced economy to go through this was japan, and the japanese haven't seen a 2% government bond yield since the late 1990s. stuart: 15 years ago. you are right, i remember 15 years ago reporting that in japan, sales of adult diapers exceeded the sale of baby diapers, more old people than young people. >> this matters for social security and other spending programs. look at this, the birthrate in the u.s. is 1.7% per 1,000.

a 40-year low. social security is still assuming birthrates of 2 people per family per 1,000. stuart: so? >> so that means they're off by 25% in unfunded liabilities. the hole is deeper. stuart: okay. we're down 200 points on the dow. not that they're connected. president trump reacting to the i.g. report, saying peter strzok should have been fired a long time ago. we have a 30-year veteran of the fbi with us. i want to know if and how the fbi gets back credibility. the "wall street journal" reporting people are flocking to florida from high-tax states. samantha says people don't move because of taxes. really, samantha? i will challenge that one.

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. >> i don't want to see a nuclear weapon destroy you and your family. >> you wished americans would sit up at attention. >> i'm kidding, you don't understand sarcasm. >> but i always liked michael and he's a good person. >> are you going to cooperate? >> you are asking me a question, i'm trying to ask it. >> quiet, quiet. reporter: that was a direct

order -- >> can i answer your question, please? you're just asking me the same question over and over. >> quiet. she's so obnoxious. stuart: i'm sorry, i'm smiling because i loved it, i flat-out loved it. that was president trump talking to reporters in a surprise scrum on the white house lawn. our own hillary vaughn was there. how wild was it? getting feedback there. >> it was so wild. stuart: that was feedback, we hate that stuff in television. have we restored communication with hillary vaughn. can you hear me okay? reporter: yes, i can. stuart: i'll repeat it. that was a wild scene, wasn't it? reporter: it was completely wild. president unleashing himself on an unruly press corps taking command of the scene as the commander in chief. this is something that has never happened in the history of united states presidents here at the white house. this driveway right behind me

is right where the president walked down the north lawn and gaggled with the press all gathered around him, asking him questions, him firing back at the press, the scene was chaotic, a lot of energy, and if anyone is going to deny that the president was not making himself available to every outlet that is part of the white house press corps, that is incorrect. you saw it live. but the president firing right back at reporters who were firing questions at him. >> you don't understand sarcasm. reporter: mr. president, yes or no? >> who are you with? >> you're with cnn? reporter: there was playful banter back and forth between the press corps and the president. a big headline here, he's not been shy about not liking cnn, but we did find out in a fox and friends interview, he's a big fan of you and your show. he says you know what you're talking about, and you're

right. stuart: that was very nice, and thank you for repeating hillary vaughn. if you want to anchor the show next week, you are in. thank you very much indeed. see you soon. i have to tell thought dow is close to low of the morning, down 240 points, that is close to a 1% loss, and there's a whole bunch of red on the left-hand side of the screen. most dow stocks are down. interest rates, the key treasury yield, 10 yield treasury 2.9%. oil prices down ever so slightly. i take that down. now down two bucks, down to $64 per barrel. a very recent development. and as oil comes down, gasoline continues to come down. now we're at $2.90 per gallon, the national average for regular. $2.90. our next guest says blockchain is transforming the real estate industry. you got to tell me about this one. bryce clemmer joins us now. okay, so i'm going to buy a

house. let's suppose. how on earth is blockchain going to help me? >> house or any real estate in general, it's actually really transformative. so essentially if you take a step back, right, what is bitcoin or cryptocurrencies or blockchain, that tends to be the question that a lot of people debate. stuart: okay. >> daily, right? most people misconstrue bitcoin as a scam or something negative, right? well, i look at it as digital money, it's our money moving into the digital realm. ever since i've had a credit card i've never used cash or rarely used cash, never used checks. over time what you're seeing and experiencing is rather fascinating. we're living in a time where money is moving from off-line to online, and so with that said, you're obviously going to, in the beginning, when most folks don't understand really what it is. skeptics, which is natural. we're all skeptical to change.

stuart: we're not skeptical, i just don't understand it. are you telling me in the future or now i'm going to buy a house with bitcoin? >> correct. whether it's bitcoin or whatever it may be called, think of it as digital money. so it's your money now online. stuart: okay, go ahead. >> go ahead. stuart: you got to tell me, i'm going buy a house, plot down my bitcoins or get in the computer, what's the advantage of that? >> the advantage of it is so i-house.com makes not just the home liquid but opens up the opportunity for anyone around the world to buy real estate. traditionally speaking whether it was a home most folks had to save up a lot of money to make a down payment or like the real estate market in japan, you referenced japan and how they are at the cutting edge of

things, you can ultimately buy a share of it. so if you want to think of long-term investments among other things, this platform allows anyone in the world to start to buy into those types of things. so -- >> if i'm buying a house in america and i put down my bitcoins, which, by the way, i have no clue what the value is, it goes up and down all over the place, you get my point. >> of course. stuart: you are telling me somebody in japan can take a piece of my action, take a piece of my investment in my house. >> not necessarily your house. most folks, in this example, can determine if your home -- stuart: take a piece of the mortgage. >> the mortgage, what have you. in this case, i'll give you the first example on i-house. we raised $160 million for a commercial real estate project over in japan. ultimately folks from around the world were able to determine there is a large opportunity, developer said

hey, i want to develop this luxury resort, raising capital, he put it on the platform, and people whether it's individuals or real estate institutions saw that and said i'd like to buy up to 49% of it. and so he still maintained control, but it was a way for him to raise money and not be limited to going out and finding large institutions to raise capital. stuart: it was the blockchain technology which you employ which allowed that factoring essentially of the investment. >> exactly. exactly. stuart: how many times have you done this? >> that was the first one, now rolling out actually globally, pending regulation and some specific countries, but over time, we'll have, i believe, a couple hundred accomplished by -- between this year and next year. stuart: if i wanted a piece of your investment, i wouldn't put dollars in, put bitcoin or some other cryptocurrency. >> what you will see is the natural evolution of tools that

allow people to take traditional u.s. dollars or traditional fiat -- stuart: look, i understand you, i think you're way out in front of everybody else and that's a fact. that's why you are on the show, you want i-house.com to get publicity. >> well, fair enough. but at the same time, it's game changing, right? it makes real estate traditionally an illiquid asset liquid. stuart: interesting, i think i understand it. even for an old guy like myself. >> i don't believe you. stuart: time's up, you've it had your three minutes. fascinating. i got to say. now this. "wall street journal" says the new tax law has people leaving high-tax states and going to florida, low-tax state, got it? joining us now is samantha, a real estate person. samantha, you're going to tell me that people are not moving

to florida because there's no income tax and no estate tax, no! you're going to tell me they're moving to florida for what? the climate? palm trees? what is it? >> first off, i will say i'm on the fence if they are, in fact, moving two. sides of the story. i recently read an article with forbes that says high taxes don't make rich people move, and i would have to agree with that just because you know there's taxes here, taxes there, friendlier states, unfriendly states. rich people aren't going to move just because of that. stuart: yes, they are, yes, they are. come on! >> i don't agree with that. if you're a millionaire, you're just going to be like, oh, i'm going to pick up and leave? you're rooted there. you are planted there, you love new york but i think there's a group. stuart: i'm not talking about me, i'm talking about wealthy people. don't you think that on retirement you would move to florida from new york, from new jersey, from california, from

illinois, because you're moving from high tax to low tax. >> correct, you didn't let me finish. there are two groups, and you didn't let me finish. there's a group that won't, but then the other group, you're going to have millennials, people settling in their career or people that are finally making money and thinking i'm making all this money, i want to get the benefits of that elsewhere and not necessarily plant in this state or people that are retiring, close to retirement, yeah, of course they're going to pick up and leave. it's not going to be the mass exodus that people are making it out to be. now with, that said, so many other factors that you have to consider just because in florida here there's a lot of benefits, our prices are definitely better than places like the northeast, but you also have home owners insurance, i was looking to buy a place in the keys, pre-irma, post-irma, doesn't matter. home owners insurance, $20,000 a year. that was the cheapest, the

cheapest. it's insane. so on top of that too, inventory is very down, prices are going up, left and right. san jose is the fastest greg market. you know what their median price is right now? drumroll -- 1.25 million. nuts. that's up 28% from last year. 3.2% from last month. it's insane. and you know you're not going and living in california because it's tax friendly. let's face it. stuart: that's true. samantha, i'm regrettably out of time, but i believe you are totally wrong. i think there is a huge -- >> what else is new? what else is new? have an amazing father's day. stuart: if you're making a couple of million bucks a year, new jersey, new york, california, illinois, if you move to florida, you're going to gain a half million a year, that's a big incentive. you're wrong. >> there's so many other

factors though. stuart: plenty of room for argument. out of time. >> not now. stuart: before the president took on the media on the white house lawn, the news of the day was the inspector general's report on the fbi. james comey under fire. peter strzok under fire. trump called them both out. we're on it next.

. reporter: i'm nicole petallides with your fox business brief. in a down market and stocks hitting high. we're looking at canada goose,

cheesecake factory and twitter which hit an all-time high. canada goose, the jackets, the thousand dollar jackets, guess what? they've surged! seen revenue jumping, profit jumping and the analysts say the forecast going forward of 20% revenue growth is modest. we're seeing the stock up 27%. and the cheesecake factory jumping on buyout chatter. unconfirmed but that a private equity firm may be interested in acquiring the company. stock's up 5.5% looking at highest close since 2017 and largest percentage increase since 2016. a quick peek at twitter which hit a three-year high, changing platform, going to be notifying you of some big events.

. stuart: we're not done with coverage of that bombshell inspector general's report on the fbi's role in the clinton investigation. listen to what president trump said this morning about peter strzok, fbi guy. roll tape. >> i am amazed that peter strzok is still at the fbi, and so is everybody else that read that report. and i'm not even talk about the report, i'm talking about long before the report. peter strzok should have been fired a long time ago. stuart: jeffrey danek, a former fbi supervisor, you were an fbi

guy for 30 years, sir. tell me this, why is peter strzok still employed at the fbi? do you have an answer for that? >> i have no idea, stuart, and it's a real travesty. maybe it's because of criminal investigation ongoing, it's possibly because of that, but you know the whole inspector general's report especially as it relates to him is concerning. it reminds me a lot of the comey press conference with hillary where he exonerated and acquitted her. the report goes on and on and on with all this incriminating evidence and says there's no bias in the investigation, and the entire report underscores it, and i think your question about peter strzok is right at the center of that. stuart: it would seem to me that morale at the fbi after the goings-on must be at rock bottom. now there's a statement yesterday for christopher wray

that he's trying to get the fbi back ontrack, he's got an uphill struggle. can you restore morale and prestige to the fbi? >> two parts, the brick agents, agents around the country and professional support staff, they're used to this kind of thing internally. they're used to the executive management constantly gumming up the works. so to them, they have a pretty good attitude, at least the ones i'm in touch with. but if you switch over to christopher wray, my take on it is christopher wray is tone deaf. his press conference was an abomination yesterday. it should have been much more deferential. should have been much more centered on the executive management, the seventh floor fbi headquarters. to wrap yourself in the thousands of fbi agents, in the tens of thousands of professional support staff and

say they're doing a great job so don't criticize us, we all know they're doing a great job. everybody is in agreement. this report is about a small cabal at fbi headquarters. stuart: i'm terribly sorry, i've got to break here because i've got breaking news here. we appreciate you being with us this morning. the news is paul manafort's bail has been revoked. he's been ordered to remain in jail until trial, i believe. >> exactly right, stuart, this is all about charges, he got chargeses of witness tampering filed by special counsel bob mueller. last week accused of trying to influence a potential trial witness while under house arrest. he was in u.s. district court this morning and indeed his bail has been revoked. he's going to jail until the trial begins. stuart: i think that's a camera shot outside the courthouse in d.c. >> yes. stuart: that's in the courthouse where his bail was revoked. >> district court in d.c. >> bail revoked, back to

prison. no impact on the market. totally separate political item but we have very close to the low of the day and holding right at that low level. the dow is off nearly 250 points. that is close to 1%, and we're back well below 25,000. more "varney" after this. here. we perform over 50,000 operations a year in places like this. for the past 15 years, chubb has identified ways that we can strengthen our safety measures. and today, our hospitals have some of the best patient safety records in the country. now, we're constructing new buildings that will define the future of piedmont and chubb is here, insuring our expansion. two million patients a year depend on us. and we depend on chubb. hello. let's go for a ride on a peloton. let's go grab a couple thousand friends and chase each other up a hill. let's go make a personal best, then beat it with your personal better than best. let's go bring the world's best

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. stuart: here's the breaking news again, paul manafort bail has been revoked. ordered to remain in jail until trial. i have on the phone judge andrew napolitano. judge, does this bring the president, president trump back into the collusion with russia debate? >> well, it does politically, stuart, i don't know that it does legally because the incarceration of manafort is based on alleged and apparently proven in the mind of the trial judge effort to influence the testimony against him, which, of course, is a crime. we don't know exactly what the witnesses, with whom he tampered were going to say. stuart: okay. >> i wouldn't say this is bad news for the president. overall it's bad news because it continues the long march of squeezing manafort. indicted three times and now can't meet with his lawyers because he's sitting in a jail cell. stuart: would you just hold on for a second, judge.

before this news appeared that manafort bail had been revoked. president trump and gaggle on the white house lawn addressed the manafort issue, what did he say? >> downplayed manafort's connection to the campaign. he worked 49 days on the campaign. seemed he worked five months on the trump campaign in 2016. he was saying, the authorities went back 12 years to find stuff on paul manafort and would not be accept fastball people burst into obama's office to dig around for things on obama. >> i believe the judge in this case said this morning. >> yeah. stuart: have you abused the trust in you. >> you've used this as markets exercise. go back to the original charges, prosecutors claim manafort over a course of ten years or more have been lobbying for a russian party and a russian individual and had launderred some $30 million as a result of that, not disclosing it to anyone, that was the original charge.

now hoping to post $10 million bond. under home arrest for 7 months. he wanted to post bond and say i'm out. the judge says based on the fresh accusation of witness tampering, you're treating this as just a marketing exercise. off to jail you go. >> stuart, this makes it very difficult for manafort to cooperate with his lawyers in his own defense because of the physical obstacles presented by his inability to sit with them and they're having to go a jail to meet with him. stuart: okay, judge, thank you very much for jumping on the phone like this with very short notice. appreciate it. >> have a nice weekend. stuart: wrap it up. more "varney" after this. at some point, we are going to be able to beat als. : . so i am hoping for a cure. i want this, to uh, to be a reality. um, yeah.

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what plots they unfold. but only in my mind. over 50% of people with parkinson's will experience hallucinations or delusions during the course of their disease. and these can worsen over time, making things even more challenging. but there are advances that have led to treatment options that can help. if someone you love has parkinson's and is experiencing hallucinations or delusions, talk to your parkinson's specialist. because there's more to parkinson's. my visitors should be the ones i want to see. learn more at moretoparkinsons.com okay, we are closing out the show with some pictures of team members and forever young, i like the music. those are some of our team

members with their dads. it is father's day on sunday. it's a fine occasion. here are some dads. >> i'm getting teary-eyed so don't cut to me next. >> to be on that balcony right now. hope you for that. now, i want to go back to what i think is the most adjoining story of the day. that was this from otherwise known as a gaggle, reporters having a go at the president on the white house lawn. never seen anything like it. >> this is where he excelled spread he doesn't care. he will tell you as he sees it , off-the-cuff. with all those reporters shouting and screaming, he's not afraid to say stop it, enough, let me finish my thought. this is why he got elected. the media looked bad. >> even though he's pushing the envelope on what's true and what's not.

he said the report totally exonerated me. the media beltway echo chamber is not used to a present like this. >> is just very entertaining. stuart: neil, this is yours. >> we are following up on that exchange. we are following up and what an exchange that was. they will have to sit in jail because they're not allowing, for the time being for him to go out on $10 million bail. into the slammer he goes for what could be things to begin with the trial. what happened of all manafort and how is the white house reacting. the president indicating that