say this sky is falling but i think that you have to listen to the automakers and people who employ people in the united states to understand the impact. >> like the manufactures. yeah. have a great day everybody. "varney & company" begins right now. take it away. >> good morning maria good morning everyone. the race is on. which company will be first to reach a value of -- $1 trillion. it's a tossup between amazon and apple. both are now qort roughly 900 billion. this is the result of the astounding runup in being american technology companies. really so much money flowed into such a small number of companies. i don't think we have ever seen this kind of wealth and power concentration. apple versus amazon to be worth a trillion. we'll get the first look at big tech profits this afternoon when microsoft reports that stock price is now close to record levels. but company is worth $800

billion. let's get to the economy. looking good despite tariffs. the fed reports moderate to strong growth in 11 of its 12 districts. sol prices in some areas have gone up because of tariffs. but they say that biggests problem is a shortage of labor especially truck drivers some very good nurls on economy out this morning as well. but here is a huge problem. red ink next year the deficit goes to a trillion dollars. in a full employment economy growing 4%, a trillion dollar deficit is unheard of facebook guy unaring into trouble again -- facebook decides what is fit to go into your news feed and whatnot -- zuckerberg has a problem with holocaust we'll fell you all about it. "varney & company" is about to begin.

>> been getting on my nerves lately. i just every day i read the newspaper, an i just think -- what's wrong with you guy. what's wrong with us? [laughter] >> been getting on any nerves recently he said, president obama. he was speaking will to town hall meeting if with young african leaders in south africa yesterday. joining us now katy come on in katy. >> good morning. i'm a guy do i get on your nerves? >> no, you do not most of the time. [laughter] >> opening up with a little humor there. what do you think president obama is up to there? >> well, look, it's one thing to be disappointed in the behavior of men. but it's another thing to continue to defeat them and say that we're just going to empower women. he went on and said you know, it has a substitute for way that men are are behaving we food to empower more women and all about bowering women but there's a

crisis in the united states with the way that men are achieving you know one and five children are born into homes without the a father. that is a problem. and as we've seen that problem manifest we've seen that men are achieving as much as women in terms of getting master's degrees graduating from high school and college, and women in their 20s now are actually out earning their male counterparts at significant levels, and so instead of just men i would rather had the former president say, here's sol solution to how we can get men back into the work place back into better behavior and by the way, back into their households as fathers which is most important role that men play in american society. >> do you think that president obama is trying to get back into american politics or influence american politics? >> you know, i'm not quite sure. he's been a little bit quiet leading up to 2018 midterm elections hoe, of course, made this speech on foreign soil in south africa many on the left have been asking where barack obama is wishing to get more

involved. i think that this was one of his opportunities after staying somewhat quiet to -- you know, make a big splash. but when it comes to actual policies and endorsing candidates we haven't really seen him out on the campaign trail in full force. we have seen him -- bptd scenes a little bit telling democrats they need to stop wining and put real solutions on the table going into the midterm elections but in materials of being out front and center talking about these issue, we haven't really seen a ton of that yet. >> so september could happen. you know which is right around the corner. so stay there please i have more for you in just a moment but i want to turn to your money and how futures are doing we were down well over 100 points that was on futures now we're down 64 so we've come back a little bit but a lower eping looks likely -- in half hours time do look at amazon and apple these are premarket quotes, both have market values heading towards a doctoral dollars. both worth about 900 billion at the moment.

a physical slightly more valuable than amazon. joining us now market watcher jack with kres sepght welt advisor as all right jack tell me who is first to a trillion amazon or apple? >> great question. 13 digits that's -- that's a huge number. you know, i'm ig bo to go with amazon just because it seems to be floating on air in many respects. i think that investors are really, you know, jumping -- more incliebed to jump into it whereas apple investor do want to see solid numbers do want to see sales do want to see product. and given that i think that amazon model is a little more scalable than apple. i think that has a chance of reaching that 13 digit mark which, of course, no company has ever achieved in american history. >> yeah. that's quite an achievement if one with of them gets there. now there's a big problem i see

a big problem, it's kind of looming. next year the deficit hits a trillion dollars. now, in my opinion jack with a fully employed economy growing at 4% that is absolutely unheard of it is a very bad sign do you think investors should care about this debt bomb that's always out there in the future? >> yeah. i think that -- it's a real because i've been in this business since the mid-80s and i've had clients worry about the debt and deficits you know -- for decades and so it's one of those hand rigging things that you know is out there. you know there's an eventually reality to deal with it and then you go okay is it going to impact us for next 18 months probably not. that said -- you know economics 101 says, what you really want to do is run your budget in a countercyclical fashion and surplus when is things are going well and kind of build up a

reserve and then deficits when things are going poorly to prop up the my to keep jobs in place. obviously, now with, you know, it was unprecedented to me running this kind of a deficit -- with we could see growth in the second quarter over 4%. >> i would like to see what you and i are going to say one year from now in the economy, i just -- what do we say i really don't know. jack i'm out of time thanks for joining us so see you real soon. >> thank you, stuart futures coming back a bit more down 60 points for dow industrials we'll open a bit lower. comcast saying it will not pursue its bid to buy assets of 21st century fox to open for britain sky instead. comcast is up maybe 3% on that news. profit at travel percent that's a dow stock, falling short hit by losses because of all of those strong wind and hail storms in several regions of the country that stock is down 2.5%.

few now look at american express big company revenue ul paing short, down 3%. however, now look at ibm very big company doing very well with new businesses. artificial intelligence and the cloud, it is one of the oldest nails in technology and it is mooing with the times ibm this morning up 2.5%. facebook chief -- zuckerberg getting criticized for his controversial comments about holocaust deniers, here's what he said. roll tape. >> i don't believe that our platform should take that down because i think that there are thing it is that different people get wrong either -- i don't think that they're intentionally getting it wrong. it's hard to understand the intent. >> well he later tried to clarify when had said in an e-mail a brief part it have. i personally find holocaust denial deeply offensive and i absolutely didn't intend to defend the intent of people who

deny that. katy listening to all of this, look, zuckerberg can't really win can he? he's the sensor? chief to two billion facebook users, that is an impossible situation. >> this is the problem with facebook decidings that they are going to be the one who is decide what is real and fake news what is hate spoach and not hate speech. the question really again, comes down to what is facebook? are they a public free speech platform or are are they -- a business that decides what they are going to put into your news feed based on what you click on, what they believe is -- appropriate for their users to see. and in this case, with the holocaust denial -- comment he's essentially saying that well people might get it young that gives them credible that they have an argument to make about holocaust not happening that is absurd so stuck iserburg has locked himself into this corner where that i willing to sensor all kinds of content as, quote, hate speech. but at the same time he's willing to give those who deny

the holocaust which we know for decades has been used as an anti-semitic slur and way to ignore all of a the history that we've seen with anti-semitism around the world. you know, he's put himself in this position deciding to be the moral ashtray or to of what you see in your feeds an the posturing they continue to have as being the people who know what's best for what you are going to see -- and so this isn't really fit in when it comes to them wanting to get rid of hate speech on their platform. >> boxed himself into a corner -- he's had absolutely no impact on that stock whatsoever. now we're a financial program and i know you're in the a financial person you're politics -- [laughter] i like money. [laughter] as do we all but stock doesn't react negatively it's a very close to an all time high and company is worth $6.6 billion. last word to you. >> if you just go back to congressional testimony and look

at what -- mark zuckerberg said about the way they sensor content and don't, you get a good idea where they stand politically and it comes down to they're willing to accept certain things on their platform and they're not willing to accept other things an they certainly aren't promoting free speech. because they do sensor a lot of contents. >> thank you for being with us. thank you. net flix might be getting into satellite radio making a deal to launch a comedy channel. netflix already has stand-up comedy -- comedy specials available for streaming you can say just take them off the shelf and put them on radio trump calling on turkey to release an american pastor who is facing 35 years in a turkish prison the turks say he's a suspected terrorist. president trump says he's done nothing wrong. we have got more on that for you and latest fallout from president trump's summit with putin, democrats now want subpoena the president translator and begs question should the president be allowed to conduct foreign policy in

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oh look out below tesla on the downside -- an investment firm need them downgraded to stock because of lower sales of the model s and the model x. tesla at 316 down about about 2.5%. president trump pushing turkey to the tweet, a total disgrace that turkey will not release a respected pastor from prison he's held hostage far too long. trky president should do something to free this wonderful christian father and husband and done nothing wrong and his family needs him joining us now general fox news strategic analyst. turkey is our military ally -- it's a member of may toe. have we got a big dispute going ow no >> we've had problems with turkey for some time first one

recently was border between turkey and syria. they kept that border open despite the fact that they said they shut it down. that is how isis grew from several hundred iraqi fighters to close to 30,000. they all came across that board and let that happen miscalculated he thought isis would take on assad regime and facilitated that isis was interested in building caliphate they didn't go west to the assad regime but they went east to take over iraq. big mistake. >> well -- i mean do we have any leverage on turkey to stop doing that? or that kind of thing? >> we don't have much leverage and as we all know is moving towards a dictatorship and authortarian regime right now which really got it that he's buy most sophisticated russian missile defense system for a may toe country to be doing that, that is outrageous as what president trump called angela merkel out for help pay for a

pipeline from russia into germany. it's a -- of that kind of stature, and as huge, huge strategic mistake to low that to happen. >> democrats think they want to subpoena -- president trump's trancelator in that private meeting with president putin at the summit three or four days ago. do you think that's a good idea? or should our president be allowed to conduct foreign policy and absolute secrecy? >> that's absurdity we have subpoena translator that will not happen. government will not permit that to expose that woman to that degree of scrutiny and listen, the president did with putin exactly what george bush did with putin his first meeting with putin was two of them together with interpreter each and then went into a bilateral with staff it was exactly the same thing and followed with a press conference. same menu. >> of course the president -- has a right to tack to a foreign leader without a staff arranged

so they can get to know each other and have meaningful discussions staff will know exactly what took place and president will not keep that from anybody. >> you're not happy with what trump are said about that meeting and about relationship with russia. you're not happy -- >> no, no, no he made a mistake admitted mistake we're moving on. what i'm happy about is our policies with russia -- are the toughest since ronald reagan and that's a fact. and putin knows that. he went into that meeting and he came out of that meeting knowing that the united states is pushed become on him more than the free previous president and no president since romed reagan has had tough demanding policies. >> that's a fascinating analysis there because we have not heard that. all we've heard is to the russian -- play that game. one that putin really pays attention to -- we have got the trump military buildup comparable to the reagan military buildup which happened to --

force the class and he knows america is on the the march the decline in military is over. more capabilities are are coming. and, of course, nato defense budget another thing and we have put more troops on the the eastern -- european border than what we've had in the past. and we need to put more he pays attention to all of that. >> i like to more about that. general stay there i have more for you in a mommy. i think i've got -- breaking news here we go. [laughter] a tweet from president trump -- i told you so, the european union just slapped a $5 billion fine on one of our great companies google they've taken advantage of the u.s. but not for long. just in from trump. check futures where are we? we're down about 6odd point at the opening bell look at american express and travelers those two are dow stocks both of them are down about a 40 point drag on the the dow so if it weren't for those two we would be flat.

thousands of the artificial intelligence people sign a pledge and never help u.s. military build weapons -- what will general jack say that we have got him for the next block as well. we'll be back. my father passed this truck down to me, that's the same thing i want to do with you. it's an emotional thing to watch your child grow up and especially get behind the wheel. i want to keep you know, stacking up the memories and the miles and the years. he's gonna get mine -but i'm gonna get a new one. -oh yeah when it's time for your old chevy truck to become their new chevy truck, there's truck month. get 18% of msrp cash back on all silverado 1500 crew cab lt pickups when you finance with gm financial. that's $9,000 on this silverado. plus, during truck month make no monthly payments for 90 days.

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help the pentagon well -- 2,400 arts official intelligence experts signed a pledge they're never going help the mirlg build weapons that use artificial intelligence. general back with that -- what's your reaction when you hear this kind of thing? dges well first of all, i mean, the fact that we're going to have autonomist airplane and ground vehicles, of course, with no people in them it is inevitable the necks technology development. the united states, russia, china, israel, are all moving in that direction. these rkers don't want to participate fine they have a right to do that but they won't stop the technology development and a listen not all weapons are bad. [laughter] you've got to get your head around this a little bit. nuclear weapons talks about how bad they are, the reality is -- since we had nuclear weapons with the soviet union, it

prevented conventional war. we had 70 years now -- of no war in europe, and there's no other period modern european history we have that. that's largely because of the nuclear weapons kept conventional armies away from each other. and that is a good thing. you're going to have weapons using artificial intelligence i want our artificial intelligence weapons to be better than theirs and i expect americans to work on those projects. and i'm mad as hell that they don't. >> and parking lot thought that we're going to have machining running around there killing people we will use our weapons as we have always used our weapons. in concert with the values of the american people. we will never abandon who we are as americans in the use of those withs and wech we have proven years of that. >> in the voice of -- thank you general. you're all right. check futures please.

we open that narcotic about four and a half minutes we're down across the board but not a huge loss. back in a moment.

thursday morning 20 seconding to go and that market will open. we're expecting a modest loss at

the opening bell. but we're going to cope our attention focused on big tech names in particular, amazon and apple both them are getting real close to a trillion dollar evaluation and check to see who is first. all right here we go we're off, running it is thursday morning, and we're down 60 as we speak. down 61. down 80 okay don a bit more than we were expecting. look at the futures that was going to be down about 60 well now we're down 80 in the have v, very early going. give it time. all right it is down 80 points. chill -- stew chill. down 82 point. the vast majority of the dow 30 are in the red they're down. how about the in with the dow down a third of a percent the s&p is down a quarter of one percent. show me the nasdaq please -- and it is down same thing about a quarter of one percent so modest losses all across the board all right big tech we all

check them because you have to. that's where money is. facebook amazon within apple alphabet microsoft all of them down -- okay who is with me liz claman is here so is ashley -- john leifield i believe you ought to seat beach in the background and scott martin is with us i think in chicago. all right i want to start with this race to a trillion. that matters to a lot of people. john, who hits it first? apple or amazon? >> i think it is easier to predict who is biggest company many five year i think that's going to be amazon but to answer your question i think amazon hits it first up 57% this year it is a momentum play but you look at ford earnings amazon is at 91 apple is just around 15 i think apple is the better value here right here. but i think momentum probably takes a.m. son to trillion first. >> what do you say scat martin? >> i would say apple baseed on numbers it has a head start about 50 billion closer so to me that means that there's beginning to be probably an easier shot to a trillion. but here's thing too john is

right if you're looking for growth you bo to amazon if you're looking for value you go to apple i be the you both of the companies will be trillion dollar companies by end of the year. >> what do you got? >> i think -- i love john, but i think scott is right. apple will hit it first because of the buyback and services it is cash pile, and amazon is facing fierce competition in the clouds space from -- microsoft apple only needs about 15 bucks to hit it there. i think amazon needs about another 200 and appreciation. >> i mean, the point is -- both are amazing -- eventually and for scots point will reach that mark by the end of the year why not they continue to grow and spread out as -- does amazon and right about apple those buybacks are in. >> when you look at the fans meeting microsoft and net nix in there they're worth more than 4 trillion right now combined and market value that's bigger than u.k. stock market they're approaching the size of the japings stock japanese stock mao you have to watch at this level. >> that is combined in

evaluation. on technology all tech ibm dow stock doing well getting into new businesses. artificial intelligence and the cloud, this is one of the oldest names in tech -- figuring out how to get into the new line of business, the stock is up a solid $4, 3% scott would you buy ibm at 148? >> i'll tell you stuart they've turned this baby arranged. i mean this was a company that couldn't make money to save itses life for gosh 6, 7, 8 years in the mid-teens here an now you know coming to end of the decade it is starting to really cook so there's a couple of thing i like you mentioned ai you know a lot of new stuff with cloud they're doing plus gross margin outlook is good to me this is a buy. >> nest case is facebook. their chief mark zuckerberg is criticized to comments about holocaust deniers. okay. let's step away from that argument for a moment and ask you john if these controversies have any efnght on the stook

whatsoever? >> no because i think they'll understand facebook thinks a lot of thing they can't fix stupid and you have on facebook right now the flat earth society. you have a big foot believer page and if you're getting your news from people who tell you that earth is flat and you don't test for truth you're an idiot facebook is doing everything. they will fix this, this is a slippery slope to figure out what is hate speech and free speech but it will do it. sm that's the news there. also if i talked to him last night. [laughter] >> my neighbor -- but also it's not just facebook. all of these -- we found out recently reading through all of your gmail -- which is outrage os and then passing on to third parties. yet the stock continues to hang -- >> i think what hits facebook harder is this is get to that in a second because they see everybody else having a fun time

and they're not so that's the issue for facebook but when he said i don't think they're intentionally getting wrong. holocaust deniers wait a succeed that's bad. that's wrong. because you should be about -- the truth. if you're not saying you're media social media company or a publishing company, you've got to get it right on your site you shouldn't have wars on there -- you know because conspiracy theories about school shootings it should be about the truth. >> but it's stock look at that exactly ash. thing opened lower now it is high per 209 a share we brought you this a moment ago. president trump latest tweet here it is. i told you so. the european union just slapped to $5 billion fine on one of our great companies google -- they truly have taken advantage of us -- is that us or the u.s.? not quite sure what the president means there. the u.s. -- the united states. but not for long. prchg europeans about keeping and flattening status quo out across the e.u.. there was a great financial times column couple of years ago that top eighth tech companies in europe are worth about a 10%

of a facebook 8% of a google so you know, the the e.u. where is their google where is their facebook that is the ever ending never ending -- with e.u. question is they probably violate some of these rules so certainly by european starngdz and just got gdpr in place their laws which are strict may come here by the way. but yeah, but you know -- in the bucket for these kind of things. >> they fix these things remember microsoft in internet explore and that went the away and net scape was a fight that was brought by aol i don't know stepping in here is -- >> i don't know about a drop in the bucket, though -- $5 million is 40% of their net profit last year. >> don't they make that -- every 16 days -- >> they have hundred billion cash pile. thank you, liz look at the stock. 1,213 a share. it is worth 833 billion. you got it. check the big board yes we have come back a little. now we're down 60 points 25,135.

we have comcast -- this morning says, not boipg to pursue its bid to buy asset of foxst industry fox to focus on the sky. market likes that comcast is up 2.5%. our known as aluminum company of america it cut its forecast, it say ises tariffs on imported aluminum and rising energy have you are the had its future. wow that's a big company and down -- 5.5%. look at american express revenue fell short -- down 2.8%. ebay gave a weak forecast don't do that. 8%. don't do it unless you have to stock is 8% profit travelers that is a dow stock falling short -- hit by losses from those big storms in several regions of the country. that stock is down -- 2%. so if to you look at dow stocks that accounts for 50 and more

marlboro cigarette maker didn't give a rosy forecast we are smoking less these days and that stock is look at that. down 6%. the federal reserve says, economic growth holding up even as trade concerns spread. all right scott martin. will growth counter myc growth will it counter any negative effects from tariffs? >> it will stuart and nice thing about what the fed is doing here is they're -- being a little bit more dubbish i think than expected at this point. yes we're going to see two more rate hikes i believe but they've left the door open to be a little bit softer on rate hikes if trade wars heat up and get a slowdown in data because of tariffs that kick in here so i think you've got fed now really watching market really supporting interest rates here and that's why i think itself had it looks at the fed is pretty comfortable. >> but tariffs so far have not impeded growth of the united states economy. i think you can draw that conclusion. >> but threat may have dampered

that a little bit. only a little but take that away and then it is off to race ares. . waiting for july the 25th when europeans come to america, supposedly with a trade deal in hand for president trump. that could be a real big deal especially if they've got a deal. >> attention satellite radio listeners that could include me netflix creating a comedy radio channel with xm well look that's an easy move i would have thought because netflix has a ton of on the shelf content to put into a new radio. >> they paid chris rock 40 million from netflix for two shows. i mean they do -- and so like you can see the long hall of trk drivers there's comedy channel. >> that reminding me our report just the other day -- where judge judy last yore and 140 million -- and rightfully so. john, first to you. judge judy makes 140 million a year do you want to switch careers? >> i think judge napolitano

should make billion. i like him a lot better so should switch careers making a huge bet on comedy big to go into that with that partnership. >> 140 million i think scott martin and john both, amazing amounts of money. thanks for joining us gentleman very good shape. check that big board again we have come back. down 80 now we're down 59. market watcher door dennis frequent guest on this show -- he says a stunning rally is maybe about on the way. he says it's time to start looking out for the dow at 30,000. mister joins us at the top of the 11:00 hour this morning. don't miss that one. here's what's coming, latest flagship phone galaxy is it the s9 yeah, the s not selling as well as expected but we're hearing that samsung working on something big for next year. a folding phone --

like on your screens we'll tell you how it works. check this out, a south korean salvage team says it found a russian ship wreck that would hold more than 100 billion worth of gold. oh, yeah we'll tell you about that after this.

13 minutes in but well above at 25,000 ford recalling fusion and e egg cape models tell me more please nicole financial >> you better bring it in because cars roll away because of a gear shift issue. the car rolls away. so we're talking about over 500,000 cars 550 to be precise this is the ford fusion.

2013 to 2016 and the ford escape, 2013, to 2014. the meantime you better use your parking brake now ford says they're not aware of any accidents or injuries. but later issue enough of this free of charge so federal regulators have been investing saving complaints and one woman in georgia got out of her car and or doo was open and caught her and roll away and car rolled over her foot due to parking brake and gets to ford if you have one of these. >> that can come in handy nicole thank you very much ma'am, samsung developed a foldable phone i get this. liz is that within of these like what -- >> it is really -- a screen. sos it would be seven inches and cuts in half it is a flashy device they're thinking of launching nec year. this could be what people want. remember it was apple was about the face using a face and lock your phone. people love foldable phones and samsung has been working on this

for six or seven years they think. but it is the list price is it a $1500 fen and people pay for that foldable phone but they miss that foldover phone. >> i have that in my drawer. maybe you get bigger prints -- something of my age could be more easily. i have a camera on it. get to trade shall we? the president says separate trade deals with mexico and canada are at least possible. joining us now duffy republican from wisconsin. all right we have we have all of these talks going on but so far i haven't seen a deal announced and no retreat from tariffs. someone from wisconsin like yourself you got to be getting worried haven't you? dges well the politics of this is hard because -- we e see whether it's europe, china, or -- the canada mexico they're going after ag so after cranberry and and corn and people that repght,

and playing politics of this stuart because what they understand is -- if they don't win on politics -- if we with actually play this out we're boing to win and what's happened over parking lot last you know multiple decades is america is a honey pot for all of these countries around the world to come in and get and take resources and take jobs and donald trump says no more, brother. we'll make this fair and equitable and we're going to play this out. now on the ag side quickly sunny perdue has a plan in place. i haven't seen it but he's starting to release that plan to help our ag century or members can't hold on for that long. >> i think government may have to write some checks to farmers to make pup for what happened on the trade are front to our farmers. but i want to ask you about this date coming ups in the near future july the 25th that's when europeans accepted the delegation to the white house to -- to d.c.. and they want to talk trade. i'm hearing some speculation that they're bringing with them a free trade deal.

somewhat similar to the the deal that the europeans have the japanese you surely welcome that. >> listen i'm a free trader like you are stuart it is good for america and if you have equal footing we will beat everybody. but we just can't look at tariffs you have to look at the tax and other regulation, other nontariff barriers that they put in place to prohibit american good from sold in their countries they come willing to discuss all of those issues -- that's music to our ears again we open up new for american producerses. are you running out of patience because we do not have a deal at this point and in withdraw from tariffs you have to be a little worried about this. >> so on politics i am. but this does take some time, and what do we look like as a country it allow china to steal all of our research and development. they have no overhead cost, and a couple of months with products that we spent years to develop. they come out with --

no development costs, and have replaces you can't allow that to happen so we have to fight this. we have to win it. donald trump has to be sensitive to what's happening in the ag community support them and i don't know if it is checks or some other means what he was theg about but this is a war we have to win if we're going to have a manufacturing and job future in america. 15, 20 years from now. july 25th mark that date in your calendar europeans. we trade. shawn thanks a lot sir. see you again soon. check the dow 30 and dow i.t. is down 84 points and we've got the vast majority of the dow 30 on the downside. a losing day thus far. home buying -- goes high-tech, popular real estate website using artificial intelligence to help you find the house you may really want -- the top guy at homeses.com will explain it all after this. ♪

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>> a sudden turn to the south we're down now 124 points, 25,075 look at price of gold what you're looking at is a one-year low -- 1216 her ounce why is it down like that because we have a one-year high for the u.s.

dollar. dollar up, gold down. that's the way it works. south korean salvage team, say they found a russian ship loaded with gold. >> gold well 200 tons of gold bollon estimated worth of $130 billion it was aboard navy cruiser that was sunk back in 1905 off of south korean army in a naval war with jazz warships. it is down about 1400 feet. so where does that money go? i looked this up and 50% goes to the russian government. 10% goes to tourism projects in the area that boat was found. that leaves 40%. i'm assuming for the find cheers works out at 52 billion. not bad. it's actually a bunch of experts south korean, brits, and canadians aboard this search ship and literally struck gold on the floor.

amazing story. good stuff ash, thank you. real estate company -- homes.com -- they are using artificial intelligence to help you find your necks home. joining us now is david -- is me i'm sorry david i do apologize i know it is meal. i get it right. welcome to the show, david good to see ya. >> great thanks so much. great to be with you. >> i give you 30 seconds to make me understand how you are using artificial intelligence to find me the house that i want. go. >> thank you. well great opportunity so it's amazing as important as purchasing a home is probably the most -- significant investment, a american will ever make in their life -- and home search has not been made simpler even though we have incredible technology available to us. so what we've done at homes.com is we've set out to provide a simply smarter way to find your next home. so the first way is through something we call homes.com

match. when you go on homes.com right now you'll find 3 million active home listings so that's a lot to sort through. even when you localize let's take a -- dynamic important market like houston on homes.com you'll find 20,000 actist listings in houston so what is a consumer to do so make sense of that? >> wait a minute -- how does -- you haven't mechanicsed artificial intelligence yet -- >> right so that's where we come in with what we call homes .com match so instead of hunting expedition of filter filter scroll, scroll, for a minuter, what we do is the user puts in what is a -- must have and then a nice to have -- so four bedrooms, three bathrooms, must haves, hardwood floor, garage, fireplace, nice to have and then we use artificial intelligence and a proprietary all l gore rism to deliver personalized

customized -- search results for that consumer. so it shows up as a percentage match for that user. so again behind the scenes we have an algorithm that is doing all of the work to show the right search results. >> okay. i understand, regrettably but 20 seconds left i have to leave it there. but you -- i tell you what i must have you send me a list of options in area that i want to buy in. that's artificial intelligence. >> personalized -- to you. so second key piece at a time. out of time sorry. if you do tv, you have to put your headline right up front. you have to hit in between eyes. we use artificial intelligence by giving you the choice that's why you do it. see you again soon. how about this -- for republicans they need a new target. used to be nancy pelosi, now the gop has a fresh name that they might want to go after. alexandria cortez my take on

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stuart: for years republicans have used nancy pelosi as their target. they run against her, very successfully, painting the democrat leader as out of touch. maybe they should consider switching to a new target, alexandria ocasio-cortez. the young socialist who will almost certainly win election to congress this november. as we find out more where she is coming from, she becomes a more attractive target for the gop. they should make her the face of the democrat party because what she is saying makes very little sense and will be disasterous, in my opinion, for the democrats. here is the latest. unemployment is down because people are taking two jobs. that is what she says. that is about as simplistic as it comes and it is wrong. unemployment is down because the economy is he growing. it is growing because president trump cut taxes and regulations. miss okays yo cortez says israel

occupies palestine. that is opinion, not a fact. when challenged she said she didn't know much about international relations despite getting a degree in international relations. she says occupy the airports, occupy the borders, occupy i.c.e. officers and while you're at it, abolish i.c.e. that is an opinion, but do the democrats believe such extremism makes good national policy? she trots out the socialist mantra, free college, free health care, tax the rich to pay for it all. it is economic nonsense but catching on with democrats. just this week former president obama encouraged his hometown chicago to go ahead with a bay i can 500 bucks a month. spend it out you like. bernie sanders loves government giveaways. come on, republicans, opportunity stares you in the

face. she should be your election target. the second hour of "varney & company" is about to begin. ♪ 10:00 eastern time on a thursday morning. that means mortgage rates. ashley: funnest time of the week every week. freddie mac, 30-year rate at 4.52%. basically flat just down a little bit. what it really means buying more time for potential homebuyers out there to find the home they want because once you see, those rates rising at any sort of clip you need to get in quick before those rates get more, too expensive is for your mortgage. stuart: haven't gone up much. 3.8%. >> they have been plat. analysts say because economic data has been a bit conflicting. construction activity that was disappointing. consumer spending, manufacturing has been good. so there is a bit of to and fro

kept rates fairly stable. stuart: i'm surprised. we get 4% growth reported next week. would think that would be enough to move your mortgage rate up only time will tell. i'm moving on. profit at travelers. that is a dow stock. falling short, that stock is the biggest drag on the dow, down 3.5%. the biggest gainer of all dow stocks, ibm. doing well with new business, artificial intelligence and the cloud. that is old tech keeping up with the times. the stock is up 3%. nice gain. big tech names they're all down i believe except for apple. apple up 80 cents at 191. alphabet and microsoft both down too. look at tesla, that's down. an investment firm needham has downgraded the stock. says we could see more model 3 cancellations, down 2%.

316 on tesla. the price of oil affecting energy stocks, gone back up today, look at that, up a buck 30 at $70 per barrel. we have this for you, amazon and apple, they are neck-and-neck in the race to become the first trillion dollar company. gary kaltbaum with us, fox news contributor, kaltbaum capital management president. so far on the show, gary, we had two market watchers who say amazon will be the first to a trillion dollar evaluation. are you going to make it three? >> automatically say apple since they said amazon. i think slow and steady is going to do the trick. look i believe both will go over the trillion dollar mark which is an absolute amazing story. two category killers that just continue to get it right. stuart: you've been right on this all the way along actually because, i don't know whether you bought into the big techs but you certainly said they will keep on going up. you've been right. >> yeah, i've had them time in

and tile on but i must tell you i was reading a story the other day amazon is up 91,000% since it came public. i owned it first couple days it went public. obviously i'm not worth several trillion dollars. unfortunately i told it too early. stuart: we all make mistakes, gary. we all do. >> big. stuart: here is serious question. the next year the deficit will hit one trillion dollars, i find that incredible with 4% growth rate for economy, full employment economy, to have trillion dollar deficit is out of the question. are you talking about debt bomb all over again? >> i'm not a casandra, but i'm a realist. we have $240 trillion of debt around the globe. we have 60 trillion of government debt. we're 30% of it. here is the problem, stuart, nobody seems to care. if anybody on the republican side, just, have interview with any of them say, what are you

going to do about the debt and deficit, they give you a snarky look and they move to the next subject. the biggest, it is the biggest problem we have longer term, and intermediate term. they think everything is fine because the market's up, economy's good, but eventually all heck will break loose. to be clear about it, today, $3 billion is being added to our debt. tomorrow 3 billion and every day going forward. $3 billion our government spending more than taking in. it is an absolute sin and absolute screwing of the taxpayer. the taxpayer's children and their children as we head forward. stuart: i have got 20 seconds. could you offer any hint when the debt bomb might explode? >> i would have bet five years ago, stuart. so i been wrong. there is an eventuality. i do not know when. leave no doubt there is a reason why we kept rates low, why europe and japan are still negative rates and still printing because they know what is out there.

i hope i'm 1000% wrong but we have history from day one that eventually debt will come and bite you and we have the biggest debt in history now. stuart: yes we do, gary kaltbaum, thank you very much, sir, we'll see you soon. back to my editorial on alexandria ocasio-cortez, listen to what she says about jobs and the economy. roll tape. >> we look at these figures, we a, oh, unemployment is low, everything is fine, right? well unemployment is low because everyone has two jobs. stuart: i think that is simplistic. unemployment is low because people have two jobs. i think that is utterly wrong, joining me fellow new yorker, republican congressman lee zeldin. she could help you in november. you're a republican congressman from long island, new york, she could help you, couldn't she? >> i care more about my country than i do about my own re-election and it is scary to think that there are these people around our country who, not just believe what she is

talking about but actually running as a proud socialist, and getting elected. these are not people who are running vanity third party campaigns and getting 6% of the vote. these are the people who would be making up the rank-and-file to elect nancy pelosi as next speaker or two. make maxine waters chair of house financial services committee. important to talk about who the leadership of their party is, who the leadership of their party would be. but it lesses important to get to know who the rank-and-file are to be setting agenda and pushing these policies that are completely out of touch. so i'm actually much more concerned for the future of our country than any benefit that i would try to gain out of it politically. i could care less about that i care more about our flag. stuart: i want to one more from, this young lady. listen to what ocasio cortez said about israel. roll that tape please. >> you used term occupation of

palestine? >> um, i think, what i meant is like the settlements and places where palestinians are experiencing difficulty. >> do you think you could expand on that? >> i'm not the expert on geopolitics on this issue. stuart: i'm throwing this to you because you are a jewish republican congressman from the new york area. what do you say about that? >> she has no idea what she is talking about. she is getting her talking points from organizations that are pro-palestinian, anti-israeli. they will say that there is an illegal occupation of palestine. these are the same people who, when you're teaching your class to college students, the professor will put up a map of the middle east where it supposed to say israel, it will say palestine for the whole area. some of these groups make themselves out to be pro-israel groups yet they support, when you had u.n. security council

resolution just before president trump came into office that passed the u.n. security council seeking to essentially ethnically cleanse. >> -- judea es jerusalem of jews she has no idea what she is talking about. she has to study the border, histories. many times the palestinians had a chance to vote for their own state. they chose not to create their own state of that territory. it becomes disputed territory. one point i would make, relates to this one and last one, with this person who will be new congressman from new york, is that the democratic, her new democratic colleagues across the country, they're not speaking out in disagreement with everything she is saying. they're speaking up, they're critical, some are critical of her that she is not making friends. that she should be more gracious. she should be more friendly to joe crowley.

she should put her time in before speaking out like this. notice from one issue to the next they aren't disagreeing with her. this is the democratic party. this isn't the fringe anymore. th taking over and it says a lot that house and senate, especially even senate democrats who want to become president, none of them are disagreeing with her on anything she is saying. stuart: extraordinary. congressman lee zeldin, republican from new york. thanks for joining us. we'll see you soon. >> thank you, stu. stuart: coming up the house passing a resolution in support of i.c.e., immigration enforcement people. overwhelming majority of democrats didn't vote yes, they simply said present. we'll get the view of a former i.c.e. agent on that. the gop putting in for a second round of tax cuts. they want a vote before the midterms. senator john thune says it is unlikely the senate will have the votes to pass. question, are the republicans just setting a trap for the democrats? kathy mcmorris rogers, highest

ranking female republican in the house with us later this hour. randy couture, former mma fighter, actor, has a new venture. the host of the professional fighters league. why do we need it when we have the ufc? i will ask him. next hour we talk to health and human services secretary alex azar about president trump's push to lower drug prices. the president is tweeting about it today. you're watching the second hour of hour of hour of "varney & company." ♪

stuart: coming back a bit. now we're down 93. we had been down 130. that is on the dow. comcast dropped a bid to buy assets from 21st century fox, choosing to focus on its offer for

britain's sky. disney involved in the three-way negotiation just hit a 52-week high on that news. 113 bucks a share for disney. president trump tweeting about the house resolution which was a resolution supporting i.c.e. the immigration people. quote, the democrats have a death wish in more ways than one. they actually want to abolish i.c.e. this should cost them heavily in the midterms. republicans overwhelmingly passed a bill, actually it was a resolution supporting i.c.e. joining us david ward, a former i.c.e. agent. david, opening question. first off, why do we even need a resolution to support i.c.e.? why do we need that in the first place? >> it perplexes me why we even get to the point where congress created title 8 of the u.s. code, which is immigration nationality act now in a position where they have to have a resolution whether or not they will support the agency, then enforces these laws. 133 democrats sat it out yesterday, too cowardly to stand

up to the plate to back up hyperbole two weeks ago because they're nazis, incompetent, whatever. let me explain something to your viewers. this little girl here is our latest victim of illegal aliens. this little girl, her grandmother, was murdered in front of the girl. they took the girl out into the woods and cut her head off, by two aliens from mexico. this is what is happening in the united states, every single day. we have democrats supporting these illegal aliens, claiming to abolish i.c.e. then they go after the border patrol because the border patrol is doing their job as well. stuart: is this how i.c.e. people feel? you look like you're really thoroughly annoyed about this. >> i am absolutely furious. pardon me? stuart: that is shared by other agents? >> obsabsolutely it is shared by other agents. our men and women of i.c.e. and border patrol go out every single day confront foreign nationals coming into the united states that have nefarious purposes to be here in the first

place. i.c.e. itself is only 8,000 agents to take care of the entire united states in addition overseas embassies to conduct investigations that affect the united states at home. congressman, democrats in particular, absolutely against i.c.e. to enforce the laws of the united states. they created the law. if they don't like the law, they change the law. quit putting it on agents back what they do. they do a damn good job at it. stuart: separate from that resolution, the house did pass a bill which approves the border wall. it gives money for 375 new border agent positions s that enough? >> right. no, it is not enough because they did the same thing back in 2006 with the secure fence act in 2006. they also approved a fence back then. they also appropriated but never built it. only 300-mile on the border are pedestrian fences. the other 300 miles is normandy

barriers. the rest of the border is wide open. they haven't done it. people need to understand only one out of five get caught by border patrol coming into the united states. get that with the responsibility on interior, non-immigrant visa holders overstaying visas. the number 12,000 is more close to 25 to 30 million. stuart: david, you've been very patient with, we booked you on the show for the last three days. you have been interrupted by developing news events. we're glad to have you on the show this morning. david ward. >> thank you very much, stuart. stuart: thank you for being here. here is what is coming up mexico's president elect has a radical idea to fight drug violence, drug gangs. that would be legalize drugs, all of them. we're on that story. ♪ ♪

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stuart: american express less money coming over the transom and the stock is down nearly 3%. the stock taking a hit. the same with ebay. they're reporting a weaker forecast. stubhub reported lower sales. the ceo said historically bad major league baseball start of the season, four-game nba season, five game final season, a five-game hockey season, a lot things broke the wrong way on the landscape. the overall stock down. president trump tweeting about drug prices this morning quote, thank you to novartis not increasing prices on

prescription drugs. likewise pfizer. we're making a push to reduce the prices maybe substantially on prescription drugs, liz? liz: we vent seen retweets on liz warren or bernie sanders because they ban lower prices. interesting development. novartis is following on heels of pfizer, holding off drug price hikes they would do for the third quarter. reasonable prices is what the novartis guy is saying. not only novartis. gilead sciences, they sent notices to california state plans that they will eliminate or reduce price hikes. ashley: back in may president would say there would be massive price drops on prescription drugs. never happened. now we have novartis and others lizzie mentioned. novartis said this on the earnings call. we thought it was prudent move not to hike prices given the dynamic environment we're

currently in, i.e., the president and his twitter account. stuart: president trump and his twitter. liz: that is an understatement. stuart: we have a big guest on the subject later today. hhs secretary alex azar joins us about 11:45 this morning. lower drug prices big deal. alex azar on the show. congressman kevin brady says there will a vote on tax cuts 2.0 before the midterms. is that a trap for the democrats? can they vote against a middle class tax cut? kathy mcmorris rogers, highest ranking congresswoman in the house, she joins us next. ♪

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♪ stuart: that one again. we go back to the well of early beatles. liz: i want yellow submarine. stuart: i want late stuff. 68, 69. >> is that your best liverpool accent? stuart: the voice you heard is anastasia o'grady jumping into the show early. we're back at 25,078. apple, facebook, microsoft, on the down side. now this, president trump says he is making progress on mexico on trade. roll tape. >> we have had very good sessions with mexico. and with the new president of mexico who won overwhelmingly. we're doing very well on our

trade agreements. so, we'll see what happens. we may do separately with mexico. we'll negotiate with canada at a later time. stuart: there was a lot in there. let's unpack it shall we. "wall street journal" columnist, mary o'grady is with us. you specialize in mexico and latin america i think. >> i lived in mexico for a long time. stuart: you speak spanish. >> [speaking spanish] stuart: what about a bilateral deal with mexico, is that a possibility? >> i would stress to do a bilateral deal you need two sides that agree and mexico already said it is not interested in a bilateral deal. it thinks nafta is working pretty well. the three countries together, comparative advantages of those three countries are important to nafta. so, i'm not sure why the president is saying that except that that is something that he has dreamed about but they're,

they haven't given any indication they're on side for that. the good thing that happened the new president-elect has said that he is in favor of a renegotiation. he would like to have it done before he takes office in december. but, you know, president trump can't just wave his hand and think that that is going to happen. lighthizer, the ustrs, has said all along there are certain requirements for renegotiating nafta. the business community calls them poison pills. things like we're going to ask nafta sunset in five years, unless it is renewed. now, mexico is not in favor of that. canada is not in favor of it, and the u.s. business community and republicans in congress are not in favor of that. he would need all of those different parties to agree to that. and, you know, don't forget that when justin trudeau was ready to negotiate with the u.s. about this dairy problem that canada

has he says that he got a phone call from mike pence said, don't bother coming unless you agree to the sunset provillages. of course justin trudeau did not come. stuart: what is cold water in spanish? >> agua fria. stuart: you just chucked agua over the any idea of a bilateral u.s.-mexico trade deal. we're told the mexican president is considering legalizing all drugs, what i heard. is that is kind of extreme. is there any truth in that? >> i think what the mexico's new president is saying, you have a huge demand for drugs in this country and because there's prohibition it means all the people that consume drugs in this country put the money into the pockets of criminals, by definition, it has to go into the pockets of criminals because it is illegal. this is what happened during the alcohol prohibition in the

united states, and eventually we said, you know what? there is too much demand for alcohol and we can't go forward like this now. alcoholism kills a lot of people but the u.s. decided it is better to have it regulated because there is demand. i think what lopez obrador is getting at here. there are a lot of problems with it. i'm not suggesting you can suddenly do it. stuart: is it likely? is that a possibility in mexico? >> i think what's lylely they will legalize marijuana because we are, at the local level we're legalizing marijuana little by little. i think it is going to happen here. legalize an regulate it. it shouldn't be just allowed to go unregulated but legalize and regulate it. i think they will try something similar. it won't solve the problem because the real money is in the cocaine and in the synthetic drugs. so that is a much bigger nut to crack. stuart: heaven forbid they legalize those kind of drugs as well. that is my opinion.

i just don't see that. >> yeah the thing is, this is a demand problem. it is not a supply problem. and so, as long as you think that you will somehow solve it somehow getting, killing off supply, which we've been trying to do for 70 years and it has not worked, i think you will continue with these problems of violence. stuart: mary o'grady, thanks for joining us. >> dell. nada. stuart: stuarte. is it estuarte. >> si. liz: we're coming to break. stuart: we could have trouble. >> your philosophy is estuartismo. stuart: thank you, mary. congressman kevin brady says there will be a tax cut vote, 2.0 in september. listen to what senator john thune said about that yesterday on this program. roll tape. >> i think the thing which don't want to do is if i have senate

democrats in competitive states an opportunity to sort of get well on the tax issue right before the election but not give us enough votes to pass it. if we can't get enough democrats to 60, gets something passes the in the senate, get to the president's desk, signed in the law i doubt it would get taken up in the senate. stuart: there you have it. joining us now. cathy mcmorris rodgers, chair of the republican conference. congresswoman, seems to me like putting forward this vote in september before the midterms, it is kind of a trap for the democrats. you're daring them, aren't you to say no to something that benefits the middle class? >> our goal, our goal in taking this vote, we have wanted to take this vote all along, has been part of our priority, is to walk in the gains that we're seeing in tax reform, that are leading to this booming economy. that is the goal of taking this vote. you think about individuals, i look eastern washington, hard-working men and women of eastern washington, heritage

foundation just came out, for the average person in eastern washington, we're talking about 13% cut in their taxes. $17,000 estimated in take-home pay increase over the next 10 years. we want to lock that in, keep it going because this is part of the booming economy that is having a positive impact on people. and at the end of the day, this is about, this is about people, not politics. stuart: i got it but do you think you have got the votes in the senate? you need 60 votes in the senate to pass this thing through, do you? >> i'm in the house of the house often leads on a lot of issues. it has been our priority all along. we said we want to make -- stuart: hold on a second, forgive me for interrupting, i do pool guise. let's deal with the house. do you expect to get much support from democrats in the house? >> that will be up to the democrats. there are some that said they think this is a provision that should have been included in the original bill. so now this will be an

opportunity to make the tax cuts permanent for individuals. and, politics is about building mow men full and building support, building, hopefully people across the country would then contact their senators say, we think you should move forward too. stuart: there is, there is movement on 401(k)s, i think this bill, you want to open up 401(k)s to smaller companies. and you want to make it easier for individuals to put money into a 401(k). i think there is universal approval of that. i don't know anyone who really opposes that. it would be ashame you can't get it threwthrough because of politics. >> the goal is to move and continue to build on successes of tax cuts and jobs act. yes, this is big election year. every two years we have a big election year. we really need to stay focused on the business at hand and one of, one big issue is the economy.

we're encouraged but we want to lock it in and keep it going, if we continue whether it is 401(k)s, whether making tax cuts permanent, with he should continue taking those steps and that is what the goal of the house is. stuart: there i will was trillion dollar deficit next year and the left is saying that is because of those tax cuts that you put in place earlier this year. your response? >> we are seeing record revenue to the federal government. the tax cuts are working in that we have more people employed. we have more business expansion, jobs coming back to america. stuart: do you think you will ever tackle cuts in government spending? that is the third rail of politics. stuart: isn't it? medicare, medicare, that is the problem with this deficit. i mean can you ever see doing anything about that? >> we absolutely have to address the debt. the first order of business was to get the economy going, rebuild the military. the house has voted on a

balanced budget amendment. the house led on the appropriations bills going agency by agency, program by program, setting priorities, bringing down spending, making government more efficient. the house has led on doing that work. we are anxious for the senate to join us and we must address the debt. the debt is the biggest threat that we, that we face for our future, for our economy, for our national security. so we must address the debt. stuart: congresswoman, thank you very much for joining us. we do appreciate it. much obliged. >> good to be with you, thanks. stuart: wells fargo, in the process of refunding tens of millions of dollars to customers who were charged for services like pet insurance and legal fees. liz: yeah, when "wall street journal" just broke the story moments ago, look at the price action on the tape, it is really pushing wells fargo to the downside. for years they were getting monthly fees at wells park go for add-on services as you noted. tens of millions of dollars

refunded to hundreds of thousands customer accounts. "the l.a. times" broke the story that people did not know that they were signed up for things like auto insurance or life insurance or pet insurance. now they're getting refunded these monthly fees they have been charged for a very long time. by the way the consumer financial protection bureau didn't break into the story. it was "l.a. times." renters insurance, nobody knew they were being charged. wells fargo stepping up to refund customers. stuart: not that big of an impact. >> fractionally to the downside. stuart: 25 cents. coming up dow 30,000. according to dennis gartman that could be. he says a stunning rally could be on the way. he is going to make his case at the top of the next hour. first though, randy couture, not sure how to pronounce the name. i think that is right. mary? here he comes. he is the former mma a fighter turned actor. he has a new venture. he is the host of a new fighting league competing with the ufc.

here he comes, will be in the studio momentarily. ♪

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♪ ashley: a trillion dollar company, who gets their first, amazon or apple? in the last hour market watcher jack ablin told us who he thinks will reach the landmark first. take a listen. >> you know i'm going to, i'm going to go with amazon just because it seems to be floating on air in many respects. i think that investors are really, you know, jumping, more inclined to jump into it whereas apple investors do want to see solid numbers, do want to see sales, do want to see product and given that i think the amazon model is a little more scalable than apple, i think that has a chance of reaching that 13 digit mark which of course no company has ever achieved in american history. ♪ how do you win at business? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting,

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stuart: look what happens to your stock, even if you're a huge corporation when you cut your forecast. alcoa did that and the stock is down 8%. they have been hurt by rising energy costs. then we have marlboro cigarette maker philip morris, they gave a not so rosy forecast. they are down sharply, 4 1/2% loss for philip morris. well our next guest is the host of a newly-formed professional fighters league. that's a mixed martial arts league.

it held its first fights last month, another fight tonight. look who is here, randy couture, a actor and retired mma fighter, and you have got this new league, haven't you? this is you. >> it is going well. i'm happy to be part of it. stuart: what do you bring to the table that ufc does not? >> it's a little bit different format. we're running a season and, we have six weight classes, 12 fighters in each weight class. they fight two times. get scores based on how they finished the fights. top eight move on to the post-season to fight for the championship and a million dollars. stuart: like english premier league soccer. >> solely based on merit, how they fight, how they compete. nobody manipulating rankings, absolutely fighter destiny in their own hands. stuart: there has to be a lot of money in this to allow time for two different organizations in the same sport? >> there is actually more than two. certainly more than a lot more

than two. sport is one of the fastest growing sports in the world right now. stuart: again there is money in it. how much could one of champions of your league, the professional fighters league, how much could they make? >> champion on december 31st will walk away with a million dollars. stuart: one million dollars? >> yes, sir. stuart: that is not the megabucks. >> it is not boxing money. there is distinct difference between boxing and mixed martial arts, some has to do with the anti-competitive nature of mixed martial arts. there is no crossover. you sign with this organization or that organization. there is no open market for fighters to negotiate a bigger piece of the pie. stuart: eventually -- >> i think we'll get there. stuart: are you on tv? >> we're on nbc sports 1. happy to be there. stuart: your ratings determines how much money comes into your league? >> it has a big part of it for sure. a marketable sport. a lot of great athletes competing.

it's fun. stuart: someone like me i'm completely outside of your sport. i never seen one of your matches. >> you have to come to nassau coliseum. stuart: wait a second, can i do anything, if i'm in the ring, in your league, the professional fighters league, is there nothing, nothing that i can't do? >> no, there are lots of things you can't do. biting, gouges eyes, groin strikes, striking to the throat, the crown of head and head obviously sensitive areas. in professional fighters league we eliminated elbows. elbows create a lot of cuts in the sport. unified rules allow elbows. submission holds. striking. six-ounce glove. stuart: okay. not padded like a big boxing glove. >> not a big boxing love. that is common misconception, the boxing glove is there to protect the boxer's hand, not the guy being struck. a lot more grappling wrestling in mixed martial arts. stuart: you have a big fight tonight? >> big tight in nassau coliseum.

stuart: how many people will go watch. >> i think about 5000 people will be there. stuart: 5000 in? when was the last fight you had? >> me personally. 2011. no, i don't fight anywhere else. that is the only place that happens in the cage. stuart: you get up the -- >> absolutely a lose, lose for everybody. retired in 2011. my last fight was in toronto. stuart: now you're making real money with the professional fighters league. i know how these things work. randy, thanks very much for joining us. >> thank you for having me. stuart: good luck with the whole son sent. thank you, sir. coming up, 28-year-old socialist, not on the show, we're talking about her. she beat long time congressman joe crowley. i think she is the perfect target for republicans. more on "varney" after this. ♪

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and there's a range of plans to choose from, depending on you needs and your budget. so if you're turning 65 soon, call now and get started. because the time to think about tomorrow...is today. go long. i'm 85 years old in a job where. i have to wear a giant hot dog suit. what? where's that coming from? i don't know. i started my 401k early, i diversified... i'm not a big spender. sounds like you're doing a lot. but i still feel like i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today with td ameritrade®. stuart: right at the top of the 10:00 hour i said the gop should make alexandria ocasio-cortez the poster-child for the republican party, make her a

target. here's why. roll tape. >> we need to occupy every airport, we need to occupy every border, we need to occupy every i.c.e. office until those kids are back with their parents. capitalism has not always existed in the world and will not always exist in the world. >> you used term the occupation of palestine? what did you mean by that? >> oh, um, i think, what i meant is like the settlements. i am not the expert on geopolitics on this issue. stuart: she is a 28-year-old socialist and she will be in congress probably in november. look who that is. that is brad blakeman, deputy assistant to bush 43. for years the republicans have been using nancy pelosi as their target. i think you should switch. there is a lot more opportunity with alexandria ocasio-cortez right there? >> there is no doubt. i remember a time not too long ago if you called a democrat a socialist they were actually

offended. now they're offended if you don't call them that. the up-and-coming younger democrats like miss cortez have absolutely no experience. year ago she was tending bar. she is enamored by a sound bite. she is enamored by socialism but she doesn't know the effects. saw it in your clip. she can't explain why she believes the things she does. yes, i think this is the new face of the democratic party. unfortunately i think it will help republicans because the contrast could not be different. let's not forget what chicago is trying to do, universal basic income. paying people just to be there. that is crazy. stuart: he got the support of former president obama speaking in south africa. >> absolutely. stuart: wait a second, maybe that is an attraction to many democrat voters? okay, it is far left, it is socialism, it is impractical, but it sounds good, doesn't it? free college, free health care, come and get it. i will give you free money, that could be very attractive to a

lot of people. >> right. but wrong kind of attraction. not lifting yourself up. being dependent on others for your survival. democrats call that constituency. they require dependency, for people to be dependent on them, instead of learning policies, depending on policies but having self-worth and determining your own ability and how far you can go. stuart: sure. >> this is sad for our country. stuart: can you explain it? why is it in this early part of this century socialism suddenly make as reappearance? why? >> ignorance of people and just what you said. it is better to get something for nothing than to work for it. we have a skewed vision of the world today with young people. they only see it one way, and, social media gives them the comfort of having this bubble that they live in. but it doesn't meet reality. they're going to be in for a rude awakening when they get on their own. stuart: i'm a refugee from socialism, brad. i'm glad to be here.

>> there you go. stuart: i hate to hear this talk coming over here. brad blakeman. thanks for joining us. much obliged to you. more "varney" after a this. and once-weekly trulicity activates my body to release it. trulicity is not insulin. it comes in a once-weekly, truly easy-to-use pen. it works 24/7. trulicity is an injection to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. don't use it as the first medicine to treat diabetes or if you have type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you or your family have medullary thyroid cancer, you're allergic to trulicity, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have symptoms of a serious allergic reaction, a lump or swelling in your neck, or severe stomach pain. serious side effects may include pancreatitis. taking trulicity with a sulfonylurea or insulin

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>> traded jitters upsetting the market. how many times have you said that recently? trader is probably the biggest worries investors face. federal reserve says the economy is holding up very well. it is going despite trade and despite the tariff problems. yes, some prices are rising in places the big problem is a shortage of labor with truck drivers. that's a good problem to have the fb. the 6 million unemployed, six-point million job openings. a job for everyone who wants on and who could qualify for one. maybe pay more attention to the federal reserve because the report on the economy it's interesting reading. if you can translate it into plain english, let's do that.

ten of the regions show moderate growth. one, dallas area shows strong growth, only one of the st. louis area shows like that. in other words, plain english, the economy is not enough to stand the current trade finance. one week from tomorrow the government expected to announce 4% growth robust indeed in the best growth rate in years. in a moment we will talk to a well-known cluster guy who says we have a shot at reading 30000 on the dow that is from huge profits and a strong economy. i have to bring up what i think is a long-term problem next year the deficit will hit $1 trillion. in a phone appointment economy to grow rapidly that is unheard of. this is the deaf bomb that always threatens but is so far failed to explode. i would be asking him about that as the third hour of bonnie and

company rolls on. >> you just heard what had to say silver spring and the man who thinks we might get to 30000 on the dow. editor and ceo of the gartman letter. he's always smiling but then again if you look at the dow 30000 you would be. make your case. >> let's say it may get there and from a technical perspective will be done in the past six months and i have been ambivalent and embarrassed about stocks because we have not gone up. i keep track of the ten largest stock markets in the world and were down about half% of the year to date. we've gone nowhere but gone sideways and from a technical perspective after six months of consolidation the next likely move is higher and if you take a look at the charts it suggests we could get to 30000.

in my overly comically long on stocks but i'm longer be starting out but not medically so. we'll see what happens. today were down in there taking me to task because i talked about the possibility of 30000 in my newsletter today, so what? stuart: you raise the possibility of 30000 and your dumping cold water on it. is it a remote possibility? >> is a reasonable possibility. on the downside we could take the dow down 150-250 from here but if we get to the highs and break through the website and looks like we might that we have that very distinct chance of going higher. at this point, any weakness you have to be a buyer and you have to know where risk is and it's probably not much more than 400 on the dell. stuart: dennis, i read your stuff and your letter and you

compare the economy of russia in texas. texas has got a smaller publication and its economy is way bigger so why do you make us comparison. >> because russia is on everybody's radar right now. we give russia far too much credit. it's a more abundant economy, 15th or 16th largest economy in the world and because it has a decent army and if it had a good summary core it would be almost in presidential. i thought it interesting to compare the texas economy to the russian economy and show how much better texas alone is then russia. escape russia in the proper perspective. it's inconsequential country except for its nukes and submarines. stuart: but that's a fascinating comparison. well done. ge, i know you bought it and i don't know what price you bought it at but reports tomorrow and what you expect to that turnaround effort, is it working?

>> i bought it a point and a half higher and i took a small loss so i don't own ge right now but i have to tell you at 1365 i'm interested in owning it in the earnings are not on board or not surprisingly bad and impactful delicacy is better earnings into equals higher my propensity would be to be a buyer again. anything under $14, ge isn't in it for the stock and you're doing the right things by the vesting of their chinese businesses. the new ceo is doing a good job under a belabored circumstance of handing over to him by bad management, i think. stuart: i don't you don't invest in technology but wondering - >> no, i don't. stuart: look on your screen. ibm is up and that's an old world tech company that is jumping into artificial intelligence. would you consider looking at buying ibm.

>> if you force me to do something without taking a look or without understanding ibm itself, it's one of the companies i pay attention to. it's an old guard, like myself, my propensity is to look at companies such as that. certainly, without equivocation i would not be short of it and given the fact that is mr. buffett's largest holding, hard to take the other side of a take that one buffet has. stuart: would you ever touch big-name tech companies to work with a debate this morning about which one gets to trillion dollar first, amazon or apple and i'm not going to ask you for this first but it will ask you would you ever, ever in your lifetime by these big-name tech companies which have done so well? >> i wish everyone well and congratulate those been involved but if not my - it's outside my pay grade. i like to all the things that if i drop them on my foot, they

will not hurt. stuart: are you kidding me? come on, dennis. >> what would that be? [laughter] stuart: what is that i know you will not tell me. [laughter] >> should i sell my microsoft? >> no, don't help microsoft. i don't thank you want to sell ibm or apple. it's a bull market and will i be involved in them, no. god bless those done well with them. i'd rather own ships and railroads and steel and claro energy that i think will do well and i want to own those things. i'm an old dog learning new tricks with my age is probably an ill-advised decision on my part. stuart: that's not funny, you know well that i'm older than you. >> yeah, we found that there six months difference.

stuart: bit more than that but dennis, get out of here while the going is good. [laughter] good to see you. we will check the other markets. price of oil this morning we are back up to 69, $70 a barrel. price of gas down just a fraction overnight, $2.85 international average. coming up, charles payne will join us. respond to dennis comment about maybe getting to 30000. nature he agrees with but dennis had to say. president trump doubling down on his bid for lower drug prices, very important. surely, joined by health and human services alex is our. we will talk with him about the president and can he get those drug prices down? did you know women make up only 9% of construction jobs and we had to on the show who are. they want to dispel the idea that construction jobs are just

for men. money and growth to be had in these women want to be a part of it. they are on the show. also white house would president trump signs his executive order on job training this afternoon. this is a story we've been covering. we are all over it. you are watching the third hour of varney & co and now the new york city skyline on a beautiful summer's day. look at that. empire state building, by the way. (phone ping) gentlemen, i have just received word! the louisiana purchase, is complete! instant purchase notifications from capital one . technology this helpful... could make history. what's in your wallet?

stuart: >> you hold them personally responsible - mark. >> i would, he's in charge of the country just like i consider myself as possible for what happens in this country. i'm strong on the fact that we can't have meddling we can have any of that. we are also living in a grown world but i let him know we can have this and we will not have it.

that is the way it will be. stuart: the president talking about his meeting with vladimir putin. joining us now, rnc spokespers spokesperson. you want to but the summit behind you but i don't think it's on you yet. >> i say the media has gone insane and once again they are being exposed comparing this to pearl harbor and comparing it to 911 and how it is faulting those comparisons. they continue with the insanity that the american people don't care, i argue that they could continue to do so. stuart: some democrats want to subpoena the translator was in the room with that private meeting. will they let that happen, what do you say? >> the president has a right to privacy with those conversations and a vast foreign affairs power. he should not allow the interpreter to be subpoenaed. i would love to talk to the interpreter from the obama ministration who was there when obama promised or possibility

when hillary extended the reset button. i'd be interested to talk to those interpreters. stuart: it will not happen - she will not testify before congress and it will not happen. >> i don't foresee it, no. stuart: done. i want to tell the audience we will have bill browder on the show today at 11:45 he is considered an enemy of the state of russia. he will be talking to us about the white house and maybe letting russia investigators did him and that would be a very big deal. bill browder is on the show at 11:45. let's go back to you. listen to what cintron said about the possibility of joe biden running into the 20. start smiling. [laughter] >> you think your democratic opponent will be? joe biden says will make a decision by january. >> i dream of that. joe biden ran three times and never got for the 1% and president obama took him out of the garbage heap and everyone was shocked.

i'd love to have it be divided. >> are you still smiling mark. >> yes, then trump is right. biden, like hillary, has a history of losing elections and the 1988 people forget he lost the election amid accusations of plagiarism the line about his background and lost in 2008 and he always loses and makes new line. we love to have him be understated president trump and exposing the gaps. i'll have my popcorn. stuart: would you rather have as the president's opponent, hillary or joe biden mark. >> too big. i'll take either. hillary, of course. stuart: yeah? >> nice re/max content. she definitely is an it be nice to see it again. stuart: bernie sanders. >> alexandria. stuart: you are a good sport. thank you for being with us. >> you were easy today but you're not always easy. stuart: that's not true.

let's talk a major corporation that is had to forecast lower profits in the future. look at it go down. this is our - huge corporation problem with rising energy costs and about what happens with aluminum companies and this is a huge drop an american express less money coming in there and they are down just over 2%, $100 even on amex. look at ebay. when you give a week forecast you pay the price. that is what ebay did and they are down nearly 9%, $3 down, $34 a share. profit at travelers falling short hit by those big losses from the hailstorms in several parts of the country and that is a dow stop, dragging the doubt down 2% lower. philip morris, again, not a rosy forecast and that is what they came out with an it was not positive for the future but down nearly 5%.

we are all smoking less. jeff bezos blue origin rocket company which is the milestone wants to send people into space in a test but yesterday shot a capsule higher into space ever done before. it went up 190,000 feet, 74 miles and the poster and the capsule landed straight safely. they have not said when they will sell tickets or how much the street lights will cost but that's the intend to do. richest people in america are living in just five states forget this, california is not one of them. is yours? we will tell you which they are in a moment. speaking of california, i will show you a shot from los angeles, no, not traffic but the beach. that is the beach, yeah santa monica. beautiful. ♪

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insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they help cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. so don't wait. call to request your free decision guide. and gather the information now to help you choose a plan later. these types of plans let you pick any doctor or hospital that takes medicare patients. and there's a range of plans to choose from, depending on you needs and your budget. so if you're turning 65 soon, call now and get started. because the time to think about tomorrow...is today. go long. stuart: this is happening. an earthquake hitting below the alaska peninsula. you can see it on the map. that measures at 6.0, magnitude. jolted areas and we will follow

headlines an update for you. magnitude six right there. look at netflix and xm radio stock. it will - netflix will run a comedy channel unserious. >> i think it is. it's been dubbed netflix is a joke radio. they have original content and chris rock got 40 million for two shows so they have a platform now in a different platform on radio to put the content out but they will produce original content for xm radio. let's be honest and another way to try to get those that are not netflix members to be drawn in to the radio and sirius exam. stuart: smart move. new study that showed the richest people in the country are in a handful of states. tell me, which states. >> new york, florida, connecticut, nevada and wyoming. that is where the 1% tend to

live in the states. this is according to economic . stuart: why not california customer it's on to silicon valley and make a wealth but that's not one of the state. >> they went for overall income as a percentage, the percentage of income is overall income so the top 1% - it should be noted that new yorkers pay a lot in taxes and the cost of living is high. the study did not get into that. it should be noted that they only looked at irs data so we're back to the gilded age because of the disparity and the stories will start coming out. when you base it on irs tax returns you have to it doesn't take an account social security or government support programs or housing subsidies, medicare and medicaid. i'm saying the studies of what. stuart: bottom line is, the richest 1% people, the most 1% live in those phytates. >> that is correct. stuart: what do you have?

>> jackson wyoming the 1% bring in 57% of all income in that metropolitan area. 57% a lot of rich people in jackson hole. stuart: here is what is coming out. he's walking down the hallway as we speak. his name is - not walking, that's a shot. that is charles payne. now he's walking down. [laughter] he will take on dennis gartman's forecast of maybe 30000 on the dow. here he comes. watch out. ♪

stuart: i do know that song. it's called the in crowd. ♪ [laughter] why would we play the in crowd? stuart: because charles payne, who sits next week, likes it. >> this is the in crowd. [laughter] stuart: charles, we just had

dennis gartman on who said maybe we will hit 30000 on the dow and did not give us a timeframe. what say you? >> i think it is reasonable. the couple things this week. first, the federal reserve which is the only nemesis to this market in terms of having the ability to derail it if they do not do their job properly. i thought the comments, his first day on capitol hill, he suggested to me into the world that this economy can keep going the way it is going and the fed will raise rates but they will not record. we keep the underlying economy going at the pace it is going right now and will justify this market. stuart: we are growing at the moment at a roughly 4% pace and is the fed is saying we could keep growing at 4%? >> it doesn't have to be 4%. you can use to growing at one and a half percent and that was

2016. we can keep growing at a pace that is producing enough jobs in producing the incomes that fueled bottom lines in the byline of corporate america. he said if they raise rates but they will do it in such a way that they will not blow this thing one fascinating. 25000 now and 30000 and i'm trying to do the math but that's 20% up from where we are now. that would be phenomenal long-running huge - if we get there, it's the best market in my lifetime and maybe ever. >> bottom line is records are made to be broken and markets don't have to die because of old age. the irony is, right now, first of all, we should reset the thing about where we started. the great recession and the market crash when the dow hit 2009 it was so oversold. that was hysteria in pure panic.

they used to call them panic's in 1800 and we had for them. it in sue's too much beer and let's find another word so they thought depression. it was the ultimate panic and we saw it and that is the base we are coming off. stuart: it was 6000 on the dow in march 2009, 6000. >> unbelievable. stuart: now it's july 2019 and 9 years later an unbroken run to 25000 over a nine year. and you are saying maybe, 30000 >> the economic underpinnings - by the way, the key parts of the economy we saw mining production go to an all-time high industrial compassion start to grow in things from manufacturing and the underpinnings of this economy, yesterday i called ranger the stock and they work and repair or maintenance in the greasy dirty fingernails that i focus on, the numbers from snap.

the focus is on the sectors and they carried the market but the surface that created long-term prosperous jobs i don't think will turn anytime soon. stuart: 20 seconds left. for you, charles. we debated this morning which company gets to 1 trillion-dollar evaluation first but amazon or apple q you? >> i'm going to say amazon. good old-fashioned horserace. right at the end amazon will be the amount. stuart: i can't believe that. they will be a $2000 a share before you get to a trillion dollars. apple has to get to 202 and you think amazon - >> easily. easily. [laughter] it is what it is. my wife has the stocks were better . stuart: case closed. thank you very much. [laughter] this afternoon president trump goes on and will sign an executive order, jobs and job training.

tell us exactly what is in the executive order, blake. reporter: let me show you the platt year that the companies will be signing. this breaks it all down. it is a pledge to american workers in the last line gets to it says, specifically over the next five years we pledge to create enhanced career opportunities for individuals including - that is what this executive order cuts to the heart of and they are signing up some of the biggest companies with this, walmart, gm, ibm, microsoft, lockheed martin, fedex, this will also set up a national council for the mecca worker to oversee the holding period is important to point out that because it's a pledge there is nothing legislatively attached to this and no law attached so there's no ramification should they not meet the pledge to the white

house is saying this will lead to 500,000 career opportunities as they see it. by the way, ivanka trump is the one spearheading us. stuart: and the white house will hold their feet to the fire they don't come through with a pledge to do. there will be a treat storm. [laughter] blake, thank you. see you soon. let's bring in a couple people will be there and the president signed the second of order. ava and [inaudible]. ladies they are both pipefitters and they say these turned their lives around by getting skills training. what training did you get into provided it? >> thank you for having me. thank you for allowing me to talk about the construction trade. there is a myth out here that it's only for men and that is not the case. there are women working in the industry that our welders, plumbers, electricians,

instrumentation tax, women supervisors and managers. stuart: all good stuff but who did train you? was it a company or how did you get going? >> prior to rolling into the program in 2016 i was unemployed and receiving unemployment checks for about eight months to a year and this company i used to work for said if you work for us again then you have to go get a four-year degree and that would not work for me. i do not have the luxury of time to go back to school. i bills to pay and other financial obligations and i was in a tight bind. i needed a paycheck and fast. stuart: you got it. big smile there. what training did you receive and who provided the training, ava? >> engineers and constructors did the construction program and i'm blessed to have been there. so happy. i'm a pipe fitter helper.

i started as a pipe fitter helper three at the time. stuart: forgive me but i will ask a typical question, typical of this program, it would be rude and i will ask you how much you make - dwanna, you first, how much do you make? >> at this time i make $26 an hour. with room for improvement. stuart: room for improvement. [laughter] is this your way of asking for a raise. ava, will you tell us what you make? >> i make $24 an hour. stuart: you get benefits? >> yes, sir we get full benefits. stuart: that's pretty good. no wonder why you're in the white house today. you landed on your feet, both of you, ava, he landed on your feet. >> i did. before snb i was a medical assistant and i did a technical school and took out a big loan.

for four years i did the medical assistant and from $7.50 an hour i went to $11.25 an hour and i'm a single parent and have four boys. i needed to get out. stuart: you have four boys? >> i do. stuart: madam, you are a saint. that is a fact. now you make $24 an hour and you're looking a lot better. ladies, congratulations to both of you. thank you very much for appearing on the show. and not wanting when i asked you how much you make. that's great stuff. we love it. coming again please. >> thank you. stuart: that was inspiring. that is but going. $7423 for every coin. it's gone up. the price of gold has gone down. what you are looking at now is a one-year low, 1216 and wiser down? it's a strong dollar. dollar up, go down to microsoft. there at about 104, $105 a share

and report the financial situation after the closing bell this afternoon. we'll see if it moves after that. ge, they report for the bell tomorrow morning and as he run up to that the stock is down 8 cents and $13 a share. president trump is doubling down on lowering drug prices. next, we talk to the man in charge, health and human services alex azar. we talk about how to get the drug prices down. look at this, this is miami, florida. twenty nah. not gonna happen.

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a kohler walk-in bath provides independence with peace of mind. call for a free kohler nightlight toilet seat with consultation, or visit kohlerwalkinbath.com for more info. stocks are down 1.8% and the idea behind it with it was given to tessa an idea that expectation that the model s will be slower. that is the competition continues to increase in the expiration of tax credits will not bode well for the company. in fact, they are seen cancellations that the refunds they've had to give are outpacing the deposit. people are tired of the extended wait time and in the meantime, within the stock is down

slightly in the last four weeks down 10%. ♪

stuart: president trump treaty today about the drug prices. thank - joining us now the man

in charge health and human services secretary, alex azar. welcome back to the program. >> stuart, great to see you again. stuart: this is president trump dropping prices down. this is not the market probably prices down. it's pressure directly from president trump. >> this is the pharmaceutical industry seen the writing on the wall. they know the president trump and i are committed that we will bring prices down and creating the legislative and regular tree structures that make sense that they will bring the prices down. we applaud them for doing that but they are voluntary actions are not what we are counting on, we are driving swift, firm regular tree action, legislative action that will create incentive to bring prices down in the country with regard to see pfizer and hopefully others see that is way this country

were going and we are completely resetting the pricing system in the us. stuart: that's a serious thing to say that you are completely resetting the price base prescription drugs. that's extremely ambitious. what is the main way that you will do that? >> stuart, as we talked about before, there's no one sold bullet that will make it happen. the collection of things in last week we taken a series of actions and lowered the price that we will pay for these positions administer drugs when they come on the market. we created new, broader pathways for cheaper, over-the-counter drugs and opened pathways for a full agenda to create bio similars which is a generic drug of these high cost biologics. we also, this morning, announced that i will find a pathway to import drugs to sell supply and price disruptions in the us when we have a sole-source unpadded

in product sitting there checking its price up and of course, commentary on the fact that we set a draft regulation over to the office of management and budget dealing with the issues of rebate and pharmacy benefit managers. stuart: what about drug prices overseas? american pharmaceuticals companies come up the drug and cheaper overseas - we do something about that? >> the president has been vigorous and talking about the free writing that countries are doing with their social assistance under pain. they are under pain need to be more and we are over paint need to be less. the step i take today around importing drugs to deal with the high cost generic drugs that are sitting by themselves is doing things to respect markets and doing it the right way by introducing competition. if you have high cost generic drug or drug that is not on patent sitting by itself and jacking the price up we will

find a way that is safe, effective and tax innovation to bring a competing drug and from other countries to be able to bring prices down and bring competition here from a different company. we think we get the best of all worlds and respecting innovation but harnessing the power of our markets. stuart: i lived in america for over 40 years and never in those four years has the price of drugs, and he drug to my knowledge, actually come down. you are saying that you are telling us you can reverse that that you can do it. >> stuart, every incentive in the system at every level favors higher and higher list prices and that is why the president has demanded we change those incentives. if we reverse the incentives the market will react prices will come down to me that. one of the biggest things we can do is to get congress appealed the obamacare big way to big

pharma where they cap the rebates being paid at the medicaid program that had an inflation penalty and created a huge additional incentives. congress could act tomorrow will that and that would create a massive incentive to lower list prices. stuart: but can you get the democrats and congress to do this? >> i don't know why anyone would vote to not support that. stuart: democrats will support obamacare as the day is long, surely, but how do you defend - >> how do you defend a giveaway to the pharmaceutical industry that it advises them to increase prices and reduce the rebates they pay to state medicaid programs. i don't know how you defend. stuart: have you got this legislation together in one doesn't get presented? >> that language is on the hill. it's drafted and perfect provided technical assistance. they just have to bring it forward and vote on it. stuart: you are having fun? i'm loving it.

i'm looking for a president who is so bold, so courageous and wants to tackle these huge issues that were talking about the complete restructuring of $400 billion for the american economy. stuart: i've had people run huge government departments on this program many times and they often talk in terms of we will try to do this and we want to do this but you are one of the first was, and board and said dammit, we are doing it. stuart: attract. >> with the fda thing this morning on a petition i did not say we will study whether we can do it but for the commissioner i insist you find a pathway to make this happen and i believe we can do it in a way that is safe, effective, leading to resolve emperors innovation would make it happen and quickly. stuart: mr. secretary, i know you agree to come on this program at the last minute and was so glad you did but we will see you again soon. alex is are, soon. now this, the white house says it will consider letting russian prosecutors interview americans. says - he says he wants to talk

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stuart: the white house says it will consider letting russian prosecutors interview americanst considered an enemy of the state in russia. used to run investment fund over there. bill browder is a man and bill browder is with us now. how do you feel about president trump open to the possibility of you being interviewed in america by prince people? >> it's an unbelievable appalling sentiment that he has that is ready to do this. putting me aside for a second, although my accent is american i've been living or moved to london 29 is ago in a british citizen. this is an issue not between trump and but teresa may and put but he is asked now for ten americans to be interviewed and these ten americans are the foot soldiers in the fight against russian organized crime and

these are the people who worked on the case and trump is ready or has indicated he is ready to get over people who have served the government in america, biting russia to russia. stuart: but you were not have to go to russia but you could stay here and do it but my feeling is the president has put you on the same footing as the russian agents indicted for meddling in our election - you aren't the same but in virtually aren't y you? >> it's an absurd moral equivalent. what have i done mark i have been able to successfully get a piece of education past which sanctions or phrases the assets of vladimir putin's cronies and cut the grass in russia and i've been able to get the legislation passed in america, canada, great

britain and other countries and vladimir putin is mad at me because the legislation freezes his assets. i am fighting evil and vladimir putin is evil and he is now trying to get me back to russia. >> and. stuart: used to run an investment funds back in the '90s, i think, in moscow and there was a big investment fund so what happened to you mark. >> large hermitage fund and we uncovered corruption in some of the biggest state owned companies. in order to try to stop the corruption we researched how they did it and exposed it to the international media. we ended up coming up with huge naming and shaming campaigns against vladimir putin's cronies in russia and in 2005 i was expelled from the country and declared a threat to national security and in 2007 my office was raided and a caesar documents and we discovered that they had stolen all the tax

money we paid in the previous year. i had a young lawyer named sergey who did the investigation exposed the massive connected tax rebate broad and he was subsequently arrested, and pretrial detention, tortured for 350 days and killed on november 16, 2009 at the age of 37. i made it my life's work to go after the people who kill them and make them based justice. vladimir putin is one of the financial beneficiaries of this crime. using a list of poetic legal tools to get me back to russia so can kill me as well. stuart: bill browder, we understand your average and we thank you very much for being a program today. bill browder, everyone. thank you for joining us. >> thank you. stuart: let's go to money. couple individual stocks that are moving. notably, domino's pizza is down nearly 2%. weaker sales of that outfit outfit.

they have downgraded accountable to retailers that downgraded them in the stock is off 6.6%. walmart, we told you it's looking to launch its own subscription video service to compete with amazon and now we're learning they want to launch it in the fourth quarter of this year. we will be through with the new digital entertainment division which cost $8 a month. include licensed shows and movies, as well as original content. the market likes it. the stock is up a bit. more "varney & co" after this. twenty

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stuart: 30 seconds left, ashley favorite story. >> 200 tons of gold bullion found some expert going to be very rich. stuart: well-said. first to get to a trillion

dollar valuation, a apple or amazon? >> apple. yes. shorter distance. stuart: $10 higher, apple is a trillion dollar company. it might bet there. almost out of time. neil cavuto, sir, it is yours. neil: thank you very much, stuart. we're looking for a race who gets to a trillion dollar figure. it is anyone's guess. we have a sell signal on corner of wall and broad. a lot has to do with friction over auto trade tariffs that could be coming. they could be big. look what we're talking about here, $176 billion worth of cars are imported $136 billion worth of trucks, $147 billion worth of auto components. you can add that up apparently i didn't do but it's a lot. so what happens if the eu retaliates and we retaliate after that? edward lawrence is all over this stuff, joins us out of washington with the latest on the tit-for-tat. where are we on this thing,