neil: another tweet, cheryl. cheryl: here we go, fake news media is opposition party, very bad for great country, but we are winning exclamation mark, back to you, neil. neil: he added except stuart varney. stuart. stuart: good morning, neil, thanks, everybody, retail ice age, forget about it. wal-mart comes through with a blockbuster report, profits up, sales up, rosy outlook and the stock is going straight up. wal-mart, the biggest bricks and mortar retailer of them all seems to be leading the retail comeback. all right, now look at the overall market, straight up as well, the dow will be up over about 200 points at opening bell, similar gains on stocks across the board, wal-mart is dow stock and that's helping the dow and so is the news on china trade, beijing is sending a delegation to washington this month, trade talks reopening,

that's what markets love to hear and china is feeling trump's heat, economy is slowing, tech sector is in sharp decline. with that as the background, maybe a deal of some sort is in sight with china. well, we hope you were watching the show yesterday, charlie gasparino broke the news that tesla elon musk is under formal investigation, at issue, does he have the money for privatization as the tweet says? charlie's report to be tesla stock down, this morning premarket up a buck, $340 per share. big day, and just wait till you hear what governor cuomo is saying about america now, varney & company is about to begin. ♪ ♪ >> the story this year is an economic boom that virtually no

one expected and frankly whatever you think, president trump who has completely revised policy on lower taxes an regulations and energy and trade, you just have to give him credit. stuart: larry kudlow, the president's economic advise -- playing the economy and not only one bay the way, and president trump tweeted this, our economy is doing better than ever, companies earnings are higher than ever, inflation is low, business optimism higher than it has ever been, for the first time in many decades, we are protecting our workers. that is the backdrop, part of the backdrop for market coverage today, as you can see we will be up triple digits, 200 points probably for the dow industrials, now, i want to get to wal-mart. blockbuster numbers and the stock is up and i mean big, 10% higher, just shy of 100 bucks a

share. charles payne is with us, the man that gets so many things right. >> thank you very much. stuart: i should give you more credit. you say that wal-mart's performance is the result of this booming economy? >> it is the result of the resurgence of the american consumer, we've got a strong robust confident mean consumer, yesterday loss in beg selloff was retail numbers, it was phenomenal and blew wall street, what blew me away restaurants were up huge. stuart: that's right. charles: biggest monthly gain of any of the categories up almost 10% year over year. you know number two, department stores, department stores. stuart: you're kidding? charles: yesterday's retail sales grew at faster rate than the internet in july. think about this for a moment. what does that say? says that the american consume ser saying, i have enough money and confidence to go out for --

with the family for diner. i'm going to go to the mall, stretch my legs, absolutely amazing, the american consumer who is two-thirds of the economy and we will hit 3% gdp, we need this to continue. stuart: whatever you had for breakfast, i want -- charles: next time. stuart: stay there. bring in market watcher christian, looking at wal-mart, is their performance about foot traffic in bricks and mortar or surge in online sales? >> yeah, i think it's a big combo, stuart, they have very strong foot traffic, best it's been for several years and on top of it they are reaffirming that they will grow e-commerce sales by 40% or more. for wal-mart it's the best of both worlds and this will be a threat to amazon. stuart: they are the leaders of the antiamazon, the backlash to amazon, wal-mart is leading the

pack? >> that's right. you know, i think it's a head to head battle here in the u.s. between wal-mart and amazon, wal-mart has the all-important advantage in physical stores and ramping up their growth aggressively in e-commerce, they will grow 40%, 10% or less of sales are online. amazon is the opposite, barely anything in store, maybe a little bit now with whole foods, but they are growing their sales about 10% year over year online so it's going to be interesting to see how this comes down to it. i think a battle of the big boys here in retail as we advance through the end of the year and holiday season. stuart: totally different story from what is it, jc penny, very weak results, we are playing the organ music. dropped below $2 a share. 1.99, down 17%. christian, is this -- this stock reminds me of sears, down, down, down, we played the organ music, is it finished?

>> i don't think so, stuart. i mean, if you invested $10 in jc penny stock two years ago this week it would be worth 2.20, the same $10 two years ago in wal-mart would be worth $13, it's a big difference between the have and the have nots, they have inventory problems, i don't think you want to catch a falling knife. has ways to go and you want to let it bounce around for a while. stuart: but not going out of business completely, is that what you're saying? >> boy, it could, stuart, they are down 78%, stock value over the last two years with another maybe 20% decline today, it's not looking good for them. we will see record store closures this year and bankruptcies in the area, jc peppy could be -- jc penny could be next. charles: the story for me with wal-mart was ticketing, pricing power, that's what every corporation wants, 2.3% up this

time, a year 5 tenths of 1%, this was the biggest gain, traffic combined with the ability to even charge higher prices and not see a falloff particularly for brick and mortar retailer. stuart: 10% up, huge gain. i want to talk to you about china, you've got it right on the program and i'm sorry i gave you a hard time. charles: we had a great conversation. stuart: what you were saying, you broke this, that china's economy is beginning to crack, you put on top of that what -- what's happening today, china trade delegation coming here this month, you think they are going to make a deal, don't you? charles: i think they will make a deal, the down playing which is great, i love the fact that they are down playing that it's a low-level delegation, we don't want the hype right now, the fact of the matter what president trump's tariffs talks, some of the actions revealed a problem that's already existed.

that's xie i keep going back to exchange, all of their big-tech companies trade, that exchange is down over 50% since 2015, their goal to dominating world through technology ain't going to happen by 2025, they have to come to the realization that that's not going to happen, they will have to have fair joint ventures steals as much or openly as they have been stealing and open up markets, on our end president trump at some point will be presented with an opportunity to declare victory and that's when i hope he declares victory because, you know, you can fight this forever but there's -- i think china will eventually offer some real concessions that really would be a win-win for both countries. stuart: fascinating stuff, charles, thank you very much. here is what's coming up on the program, strong words about america from new york governor andrew cuomo. roll the tape. >> comes down to this, we are not going to make america great

again, it was never that great -- [laughter] >> we have not reached greatness. stuart: what a downer. okay, he said that, then the president responded with this, can you believe this is the governor of the highest-taxed state in the u.s. andrew cuomo having total meltdown. okay, here is what governor cuomo responded in response to the president. what you say would be great again would not be great at all, we would not go back to discrimination, segregation, sexism, racism or the kkk, like new york's motto says ever upward, not backward. all right, charles. i will get to you in a second. charles, you're air force veteran, what do you make of that? charles: i'm so sick of democrats bringing up the past, slavery, racism, the kkk.

i'm so -- i'm so infuriated with that over and over again, it is sickening. you know yesterday morning i was little late because i woke up and started reading the story, fascinating story how they got water in new york city, our water system was abysmal, they took on massive project and had tunnel that you could walk tunnel to cat skills, most of them were black or recent immigrants, that's example of new york state greatness, that's an example of greatness, cuomo should know the stories and understand that all americans of every stripe built that tunnel so we could have drinking water in the greatest city in the world it wouldn't become the greatest city if we didn't have drinking water. we have million examples of that where america in every race, color and reoij own have made country great. we have motto something the t founding fathers thought, to create a more perfect union. ashley: so typical, the greatness of the country that

makes it what it is today, the world leader and yet all we have are democrat leaders what wanting to back and bring i racism, any ism, that's a great -- that's a great slogan that has resinated with many people in this country but not mr. cuomo who wants to focus that the country was built on racism, sexism, you name it. it's horrible. charles: it's really sad. harls charles leader of the democratic party. stuart: we have high energy to open the show. [laughter] where are we going where the market opens? and then there's this, more than 300 newspapers coordinating to publishing antitrump editorials today criticizing the president for the way he treats the press. the newspapers say they are not the enemy, we are talking to someone who wrote one of those

editorials later this hour, are you annoyed, i love this, are you annoyed by those constant telemarketing calls on the cell phone, yes, i am. there's an app for it, it's called robo killer, i want it. ashley: i used it. great. stuart: answers the call and uses prerecording messages, the results kind of hilarious, we have the app's creator, a welcome guest. trade talks with china will resume this month, next we have a guest who says china may not be as tough as they let on, he said we could be ready to make a deal, they could be making a deal with president trump. more varney after this.

stuart: china restarting trade talks, well, its economy is hurting and please now look at this, the op-ed in today's new york times, quote, worried about

turkey's economic problems, question mark, china's could be worse. michael is here, he's the author of the book the 100-year marathon china secret strategy to replace america as global super power. michael, you were just in china, tell us firsthand is it economic crisis brewing over there? >> yes, i'd say the feeling the fragility of the system, a number of article that is have appeared in chinese press that seem to criticize president xi. i think they've also got a program under way to test, send out trial balloons in terms of victory before president trump in midterm elections. stuart: you think the trade delegation which will be coming this month would make a couple of proposals trial balloons to see if president trump will grab at them before the midterms, that's your sin -- sen -- scenario that you're laying out

here? >> that's right, the 8 points were offered in confidential manner by the american side, the chinese leaked the 8 points and dumped all over them as being humiliating but slowly they began testing 8 points and what they would have to do to give president trump a victory. stuart: they are feeling the pressure and will be more incline to get to the table? >> i think it's a psychological matter, they see lack of foreign investment which is very scary for them. they see their own investment in the united states which they relied on as you know, stuart, to get our technology, their investments in the united states in the past year have collapsed, almost 90% drop, they have to do something and this low-level delegation is perfectly traditional chinese negotiating style, you know, to have a vice minister of commerce come in and test the waters. i'm not sure what will happen

because president trump doesn't want a false agreement, he doesn't want some sort of differences but if the chinese delegations has serious progress, i think that's pretty good news. stuart: do you think -- china needs to stay face, they can't be hammer intoed the ground, they would never agreed to that. what kind of deal could save face for china and still give president trump a win? >> well, they've been launching trial balloons about that including this morning. their theme is, hey, we are already opening up more, we are already having our middle-class grow and make more purchases of foreign products so just be patient and president xi's own course of opening up will sort of take care of these problems. i don't think that's true, but it's another sign of the chinese trying to put a good face on the really terrible allegations president trump's team has made against them for stealing their

way to the top, it's embarrassing if you're concerned about loss in faith in china to be told that your government has been violating so many rules for 40 years, that's why it's become the main challenger to the united states. stuart: what a situation. michael, thanks very much for joining us this morning you've got very good information. i'm not going to call it inside information but you have a close look on the ground in china and we appreciate that, thank you very much, sir. >> let's try and be optimistic, stuart. stuart: i always do. [laughter] stuart: thank you, michael, see you soon. futures still show a nice gain, 210, 211 points up for the dow industrials, i will call that nice, thank you. president trump making it a lot easier for country to launch cyber-attacks on our rivals and enemies. big change from the obama years, maybe we are now going on the cyber offensive, we will explain it all after this.

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stuart: here is a tale or two, strong numbers from wal-mart not so good from jc penny, one up, wal-mart massive gain 10%, jc penny way down nearly 20% down. that's the stock. sad story, extraordinary story. a mass overdoes in connecticut, what happened?

ashley: this happened at park well-known to be location for homeless people and drug users but what happened was 76 people oding and someone said it was like apocalypse. there were people lying down in extreme distress, some of them comatose, no one has died, they believed synthetic marijuana, you take plant and spray it with chemical that's supposed to mimic the impact or high from marijuana, something clearly was laced, something the chemical was laced with something, 76 people rushed to hospital. 37-year-old man has been arrested who may be connected to the sale of whatever the stuff was, k2, synthetic marijuana, terrible situation. stuart: all right, i'm going switch gears and i want to talk about president trump who has relaxed president obama's rules on cyber-attacks. ash, seems to me like president

trump is now opened the door for america to go on the attack on offense? ashley: or at least give them the ability to. the obama regulation you had to go to interagency channels in order to respond to cyber-attacks, this takes that out of the way, gives government the ability to detect where this came from, whether it was maybe a foreign state, they can act a lot quicker in retaliation. the obama administration put this in because they were worried about too many knee-jerk reactions and would cause bigger problems and they put this in place, john bolton has been hot on this since he came to office back in april, he wanted this thrown out to give the u.s. government to ability to react faster to cases of cyber-attack. stuart: it's really a public warning, isn't it? ashley: yes. stuart: we can do this. ashley: threat of being able to respond quickly is deterrent. stuart: that's it. bring you up to date on the market, going up some more, the

market opens up in what 4 and a half minutes, well over 200 points in dow industrials and some of the premarket activity show some big gains for individual stocks, back with all the news in the opening bell after this.

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>> here we go this could be a big day on the market. we were down what, 137 on the dow yesterday. looks like we're going to reare capture all of that lost ground right as market opens. and bingo the market is now open. up we go thursday morning 9:0 where are we? up -- look at that. just like that within with a few seconds we're up over 200 points and that's completely wipes out yesterday gain as of now, we're up. i'm sorry yesterday's loss thank you ashley. i got your back you're a good man. every single one of the dow 30 has opened in the green they're all up and dow is now 25,400 and still rise aring and s&p 500 -- broader base indicator, obviously, where? not up so much. it is up half a percentage point solid gain but not as much as dow nasdaq composite where is that going up two-thirds of one percent .6%. again a solid gain, but not quite as good as the dow.

let's see. show me wal-mart please because that looks like it is retail stock of the day reached 100 a share. is opened with a gain of nearly 11%. strong earnings report there. we'll get into it for you. look at tesla fcc subpoena company over musk tweet about taking the company private. the stock is dead flat below. >> got an upgrade from bernstein raise target in all of this. >> bernstein raise ares price. well it is up a buck now. it is just recaptured 340 on tesla. now show we apple i believe it is just hit another all time high yes it has. to 1171. it is that company is now worth $1 trillion and 22 billion. thought you might like to know that. ashley webster is here and david dietz so is john leifield david

i'm saying this rally is as a result of a, strong economy, b, talks on trade with china. what am i missing? >> now investors are overlooking or looking past these turkey currency woes but i would like the fact that two in the dow including tech cyst and wal-mart knocked out of the park in terms of the earnings and mother's milk and carrying news that trump and china are going to get together to talk about trade talks. take pressure off so, obviously, there's good reason for this rally. >> for today boeing and caterpillar shooting up to get a bad headline tomorrow. the air come out that's driving market rouse and in this is headlines of the big mover. they're all look at this i have to tell you this up nearly 270 points well above 1% all of yesterday's loss wiped out in a couple of minutes. let me get to wal-mart sales growth, sales growth at a ten-year high online is diagnose well just as much as foot

traffic is doing well for them. john leifield come on in please you're in bermuda. okay, would you buy wal-mart at 100 a share? >> i've owned wal-mart for some time and been one of my best stocks by far as you can imagine -- i would be a buyer here if i didn't own it. look same store sales projected to come in 3.8% and came in 4 5*7b9 %. e-commerce is up 45% and this is a gross story especially with jd.com and grocery in china, that's a in the united states a great growth opportunity and yes i would be a buyer here. stuart: wal-mart david dietz is leading against amazon the world. >> popping that on sales and i think that's what investors are are focused on. but you're talking about what 4% same store sales growth. we just saw c are pi up 2.9%.

i mean, it is fine but now we're trading about 20 times earnings for a company with 10% of american sales is -- it's -- >> you wouldn't buy it. but below 60 in face of the amazon threat but at this point we just hold. >> got it. okay look at chinese video game maker ten cent are it was down big yesterday. been down big for a long time. i'm going to use ten cent as a proxy for general weakness in china. i know it is all their tech stocks are down. and some of their export orders are down as well not growing fast enough. >> part of the problem is chinese government has come out against video games being detrimental to the -- to children in china saying that what you're playing too many games that was a huge hit and that was part of the problem. >> okay john do you think that china weakness and it is weakening is that enough to bring them to the table because mr. trump is still applying pressure on him? >>ed i do, i do think it is.

i think what you have to figure out, though, this is not a summer sum game and win 100% of this trade war with china that's our trading partner that's second biggest economy in the world. we have to figure out a way for president to win and to do that question of to figure out offramp and figure out what wins for us and them but yeah i think this brings on table. they were hurting long before tariffs were put in place. this poured gasoline on their fire. >> by the way up 288 points closing in upon a 300 point gain pretty close. the the fec did subpoena tesla over elon mufng inpa mouse tweet about taking company private of 420 a share. i have to go back to you john because -- i know you're on elon musk fan what's your reaction to all of this investigation stuff? >> it should be done by now. fcc loves to be on investigations they love to have them last three months this is very simple. cut and dry and they have a meeting with saudi private wealth he thought he had secured

funding if that is enough to meet the bar to have secured funding that he's fine if he's not it is a violation i don't know why they have to drag this. it should be solved. >> falling as we speak tesla is down 250 at the moment about a buck 60, 37 is your tesla quote right now. very close to the high of the day. now we're up 284 points. that's better than 1%. the dow component cisco that's clearly helping the dow. it is up 3.5%. good numbers came in from them. and look at invidia straight up for some time. they report after the bell today as you walk up to that, it is up a little bit more. 259 on invidia j.c. penney not a great forecast down it goes. 24% lower. it is a buck 81 reminds me of sears.

>> we usually play oregon music it is down this morning. kroger in china, but they're closing stores in raleigh maybe elsewhere -- >> they look at the market but felt they were overcatch rated and couldn't get foothold. moving on. >> are they closing stores in america but expanding over there? >> absolutely constantly pruning in this business plus you have gotten european shopping centers moved into east coast but i think key thing with kroger story is here's the shot across -- in terms of the whole foods amazon hookup. now they're hooking up, of course, with alibaba which is a major competitor so i think it is a very savvy way to say hey we too have a -- online giant who is going to hook up with us. >> not just a grocery store but innovative company. they're out there. on the edge good stuff. kroger is up about 1% 30 a

share. don't ever forget about dow component general electric. >> how could we? stuart: former dow component. that's right. it touched a 9-year low -- or david dietz is with us. i believe you bought it. are you sticking with it? >> absolutely. the mess that ge finds itself now took two decade you are not going to turn arranged in one quarter. they did the not sugar coat the last q2 earnings report and slipped 11% since then and they are concerned about dividend and they have to continue to execute on turnaround plan to invest noncore assets they'll be fine. >> hold on to it. glutton for punishment. kimberly clark raising profits they make huggies and raising prices on other products as well they're saying increase costs but john, seems to me that corporations now have pricing power. they can raise prices for few years they could not. what do you say? >> yeah they can, and kimberly

clark on this news is up significantly and by the way i own kimberly clark but xotty in place and you have automakers talking about steel and aluminum before tariffs you see the same thing in commodity which has something to do with the terrorist and they have pricing pressure. >> i see market at the moment up about 280 points on the dow industrials. that's a very nice rally right from the get-go this thursday morning. can i presume that the turkey problem which has been a problem for some time is that gone away, david? >> well turkey problem i think people realizing if you unique to turkey you have who is in a -- >> no contagion? >> i don't think so. and in i think some of the earnings reports. i have to tell you all investor psychology and i think that problem can be resolved quickly if it gets realistic about things. if -- >> if. that's the big if.

but it is up today despite fact that turkey is up by iphones we see who is winning that war. >> don't buy many iphones they have to meet -- they have to repay loans to the the tune of 150 billion within the next year. >> currency how do they afford those dollars? >> they have a lifeline from middle east like tesla did from saudi arabia and restore confidence. >> i have to say john in bermuda back to the beach thank you indeed david hold on to that. you'll be all right. check that big board again please. because we are up -- significantly. this thursday morning, 286 points, 1. 4% as we speak. amazon story of the day here it is. they may be getting into the movie theater business. really? anything -- brick and no full details coming up, president trump fulling john brennan security clearance the president says brennan is not fit to have access to secrets. brennan is calling it assault on

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oh, look at this we're up almost 300 points on the dow industrials. 25,458 is where we are now, this best buy buying the maker of the jitterbug mobile phone. which i believe -- is marketed mostly to senior. i'm all ears nicole tell me more. >> we can market millennials say this is for your parents right so this is basically a deal that was made 800 million their biggest acquisition ever jitder bug mobile phones with large screens easier to see powerful

speakerphones, so easier to hear it has apps lined up in a list. look at that. nice and large they're not little icons over pages after page they talk about this simplicity, and also it has access to medicare so -- urgent care five star and also other medical app as well. back to you. >> they made it just for me. they did. i tell you they did. nicole thank you very much indeed. let's get serious president politics, president trump sites the russia probe, as the motivation for revoking former cia director john brennan clearance. here's how brennan responded this action is part of a broader effort to suppress freedom of speech and punish critics it should gravely worry all americans including intelligence professionals, about the cost of speaking out. my principles are worth far more than clearances,ly not repent. relent i should say relent. joining us now general jack keane four-star retired general.

sir was trump right in reare vehicling that clearance? >> well there's no doubt he has the authority to do it and indisputable that he can take a look at anybody's clearance and then take away the privilege of having one for whatever reason, and he doesn't have to share that reason with us. well i would have preferred him to do stuart is to relook the whole policy and out of government service. why do we tolerate that? and i mean it's not that they shouldn't have it for certain periods give me an example i'm on a congressional commission been on it for ab year and finish a report in september. they have to reactivate top secret clearance so i can get briefings but when that's over in sepght that's -- clearance will expire and i don't it. because i speak publicly and i don't to be continued to be burdened by fact that i'm getting top secret briefings and there's no reason for me to have them after that commission expires. there's plenty of ways that we can keep people who served in --

kept nation secrets and people want to talk to them and seek their advice without having to go after individuals like this. it is -- i wish we just did the whole policy. >> so when you retire from the military you actually kept your clearance. >> i kept it for one reason only because i was appointed secretay of defense policy board and when i left that policy board of my own fruition after nine years, about then that clearance went away. >> got it. city haven't had it for yief years reactivated because i'm on a commission i had to get classified briefings. i want to turn to president trump relaxing -- president obama rules on cyberattacks. it seems to me that that is our president's giving a public warning. hey, we got this stuff. we might go be on offense against you guys. is that accurate? >> yeah. this -- this is something really had to be done, and i'm convinced obama guys realized you know what it would do to us. that this was done in 2012.

so the people on the stand out there ow viewers we have the best cyberoffensive capability in the world. there's nobody close to what we can do. and what's happened is -- we got so many restrictions and so many rules that we can't use that offensive cape whbility we need to. but also complicated, and we've got to be careful because we have to coordinate let me give you an example so we have a russia are hacker working for a government on agency and he's hacking in it our election process. we catch him at it and we have ability to attack that, and take that computer out that he's using in everything arpgd it that's support it is. we can do that. we have that capability to do that and no secret that we have that. but however, as opposed to pulling that trigger let's assume that one of our intelligence agencies is already in that computer, and they are monitoring it because they want to know who is this guy working

for? what government agency is giving him orders and what is the supervision that is going on and how far does this spread inside the the -- russian government so opposing to pulling that trigger we would want to know is any other agency involved we have to do that coordination. >> last one general do you think this public warning and i'll call it that. of we've got cybercapability, aimed at russia? >> it is aimed at russia for sure priority target one, and also china, iran, and north korea these are the countries that clearly are conducting offenseive against the united states. and there are very aggressive it be. >> general jack keane, thanks for joining us sir. see you again soon. >> good talking to you stuart. stuart: bet you. it is a big rally on wall street look at the dow 30. 29 of them are up. there's only one that's down and that is disney. the dow right now up exactly 300 points.

on that note, on that number, more than 300 newspapers publicking editorials hashly critical and defending the press look at a it that way. we're talking to a journalist who wrote one of those piece, next.

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♪ high of the day and moving up 321 points up for the dow jones average 25,484 dow is up one and a quarter percent. very solid rally. hundreds of newspapers all across the country taking on the president. here's the headline from the the kansas city star editorial board. president trump we're not enemies of the people. end your war on our free press. come on in please melyda, member of the kansas city star editorial board. now, melyda if there's a war on the free press, and the media is the enemy as the president said, how are your freedoms as a journalist being undermine what freedom have you as a journalist lost? >> well, first i want to say that there's no president, no city council member for that matter anywhere any time who has always loved his or her

coverage. but we have never seen a time before when a president has called the media the lot of us as a whole enemies of the people. i mean, that is language that not to use about the jews that is language that youssef stalin used to tag someone for execution. so what we see him threaten the first amendment by threatening to undermine liable laws by saying he wants to open it up and end our protections, when we see -- him threatening to yank someone's license because he doesn't like the network says. >> what protection has -- >> how that works but -- >> you hear me what protection -- >> removed -- >> can you hear me? >> can you hear me melyda? >> can this lady hear me i want to know. close that mic i want to know can you hear me? [inaudible conversations] because this is an interview this is discussion it is not

statement. end it i'm sorry i can't conduct -- i don't think she can hear me. she can't. i'm sorry about about that but i will not conduct an interview which is just a statement from my counterpart and i'm very sorry about that i wish we could restore audio so everybody can hear everybody but we can't. yes, dow industrials i have to turn to this we have a hell of a story right there. money 24 points up for dow industrials. 25,486 up one and a quarter percent we've been saying ash this is as a result of a, with strong economy -- b, trade talks with china. am i missing something? >> not at all and putting turkey issue so rattle the market from last friday session to the beginning of this week. put that to the side. came in with 15 billion trying to, you know, me gate nerves but this my is coming very, very well and been issue of tariffs and trade fight hanging over us but word that chinese be it a

low level delegation coming to washington d.c. shows that the channels of negotiation is still open. and belief thing market believes that it is at some point here, a -- a negotiation will be achieved. >> we're up 328 points there you have it. here's what's next my editorial on the mon san know lawsuit the verdict reveal what is i'm calling a perversion of our legal system. we'll be back. whoooo.

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>> here's how the plaintiffs bar the lawyer, screw up the justice system. first, bring your case to a sympathetic jury, then put a plaintiff on stand who will get a lot of sympathy. make sure you have an unpopular villain to go after, and don't forget to use emotion not fact to win the the case. so it was that a judge in san francisco ordered monsanto to

pay 289 million dollars because they haven't given sufficient warning of the supposed dangers of the week roundup. the plaintiff duane lee johnson testified that he suffered excruseuating pain from legends on his body after using round up as a grounds keeper and elicit sympathy that is correct. his testimony convinced the jury that monsanto should be ruined. the problem is, there is no scientific evidence that roundup and its active ingredient i'm sorry g loifosat causes cancer no evidence. a study of 45,000 pesticides applicators people who use is regularly found no connection. study was published on approved by journal of the national cancer institute. the environmental protection agency says it is safe.

but scientific facts don't matter. they don't count in a sphrifng san francisco courtroom it is emotion that counts so here question go monsanto faces 5,000 similar suits class action anyone? the judge in the case suzanne -- could vacate the jury's decision or call a new trial. i hope she does. because our courts should run are on facts not emotion. one last point, we can all understand mr. johnson's despair and pain. he is the plaintiff and he has suffered mightily. but our sympathy for him should not be used as an execution for lawyers trying hard to pervert our legal system. second hour of "varney & company" is about to begin. >> breaking news sad i-news

aretha franklin died after a long illness. battling bank yatsing cancer news now she died at a home in detroit at the age of 76 known as queen of seoul i was looking up remarkable career 18 gram i-s ins going all the back with respect give a huge number of amazing hits. she really was an icahn but sadly today we know she's been gravely succumbing to bank pancreatic cancer true entertain egg passing age of 76 and father amazing religious leader. >> is that right? she's passed, 76. all right god bless. >> we now have since it is thursday morning, and 10:00 eastern time. we've got the mortgage rate numbers for you. >> we doin deed coming in at 4.53% that's down from 4.59% these numbers are very stable as

far as borrows costco moving sideways through the summer and good for those getting into not rising and ironically rates come down and ten year yield down to 85, 288 so you know we always smile because stew and i back in the the day -- early 80s i remember 1981 or 1982, getting 16 and a half percent so it was a steal. i was paying 12.7%. and now 4.5% i don't see that as a huge problem but not buying house at this point. in particular look at apple i believe it is at another record high. 21218 up nearly $2 up nearly 1%. there you have it. only facebook amongst the big technology stocks is down. and then just 45 cents. wal-mart now that is the biggest gainer of all of the dow 30 stocks. strong sales growth. i've got more on that in a moment up 9% what a gain. and look at cisco, it is also a

dow stock also doing very well. good forecast investors like that, it is up 3.5%. the price of oil this morning, where are we with a strong dollar we're back up to 65 dollars per barrel. stay is on this remarkable stock market rally that we have this morning. gerrick come on in please. i'm saying that this rally today is the result of very strong economy as promoted by president trump and larry kudlow this morning. and potentially fruitful trade talkses with china. what am i missing? >> add in wal-mart add in cisco. the wal-mart, the fact this mega cap company is up so big and adding such market cap to the -- market is real good. but no doubt the market started moving last night when it was announced that there's going to be some trade talk with china and no doubt that is a play today. boeing i think is up like nearly is $12 that is the poster child

on trade that's good for about 80 were 90 dow points good to sees again and saying all along let's hope we get this trade thing done sooner rather than later. >> do the prospects look pretty good for a trade and announcement of some sort a positive announce ?ment that china delegation arrive it is this month. we're told balloons to see the president bites i know talks with mexico are are ongoing there's a potential here for some good news on trade soon before the midterms? right? >> i think the chinese market may force china's hands to move again sooner rather than later. their markets have been imloaz imploding chinese, the trades over here have been destroyed and there's also even though china, you know, pounces on any type of bad talk against them in china there's a lot of people on social media that live this china that are really talking them down right now, and how they're handling things. so yeah i think this may be a

force issue and again, if it happens yesterday qowb too soon. >> you have no trouble putting fresh money into this stock market now. isn't that right gary? >> on a select basis look right now the market remains somewhat range bound and really the move is to sell the the updays and buy down days because you and didn't blink right now on the way the market is trading. >> got it gary i'm cutting short because i'm so jam full of news thank you. see you again soon. i want to get back to wal-mart blockbuster numbers burt is here and you say -- you say that wal-mart will soon check mate amazon what does that mean? >> start check mating amazon online wal-mart is onloin growth is 40% today which is higher than amazon retail sales growth rate when you bifurcate and wal-mart has hired people from from amazon from wal-mart.com and jet.com and wal-mart is low price leader or again with dj costco all of the lead is winning in stores.

and starting to win online and that will start to check mate amazon and having a few struggles with the whole food corporation. >> on other side of the coin is j.c. penney, about i believe that stock is well under $2 a share at the moment i think back down to about what is it a buck 80 down 60 cents huge 25% down there -- are they going out of business? >> they could, and it's on the fifth anniversary stuart -- of bill and pershing square and ron having left on the doorstep as we forecast on fox business with you. at the time it is penny stock drop from 43 below two. >> are you blaming them in their fault? >> in my professional view it is. they left penny badly impaired with a bad board that didn't retain mike didn't bring back ellen and didn't bring back proven leaders didn't keep joe, the person whose chairman of the board now stuart and acting ceo

is ron, and -- and going for broke that was when bobo bankrupted over ten leading u.s. leading department stores. that we should play oregon music for j.c. penney -- >> fears worst hoping for the best but oregon music is -- get the oregonist ready. we do. [laughter] real fast you coin the expression reare tail ice age. i put it to you there was what is going on in retail business right now. the retail ice age is thing of the past. now charles dickens best of times worst of times in first line of tail of two cities so the well capitalize highly capable retailers like wal-mart amazon are winning an laying waste to the undercapitalized retailers from fenny to top to -- >> what a story. >> who would have thought? >> burt thank you for joining us do appreciate it. >> i'm going to make a little

tile in the block of the slow to get back to melyda a member of the kansas city star editorial board we had a technical issue. i'm very sorry about that. but you wrote -- >> no thanks. i want to bring you back because look job but you wrote editorial about president trump he should not be declaring media the enemy of the press. so my question was -- >> the people -- >> hold on. my question was, what right as a journalist have you lost? what freedom as a journalist have you lost? >> the freedoms that are threatened are two, one to do our job without physical threat. and it is a very real physical threat i don't know if you've been to any of the presidents rallies but it's a ritual moment when he says these are the most disgusting human beings on the face of the planet and directs the you had crowd to turn around and jeer and yell and curse and

so on so you know in this current environment that -- the physical threat is one thing. but more concerning to us is a threat against the first amendment when he calls us enemies of the people that is a term that nazis used against jews that is a tomorrow that joseph used in taggings enemies for execution. so we all know that words matter and our point is that while no president, no city council member has ever loved their coverage. this is an adversarial relationship that's completely normal. but it is not normal to threaten to try to trash liewbl laws. open them up. it's not -- >> would you be happy -- would you be satisfied i should say -- if president trump does not use that expression again? and tone down his attacks on the

media? you would be satisfied request that? >> absolutely. i mean, has there ever been an official who did not criticize it in the point is making us enemy of the people when we are the people. so yes -- i would be very satisfied with that, in fact. >> melyda look thanks for being on the show -- in that situation again you know what live tv is like here always up, again, the clock and i'm up against the clock. i'm glad you came back on the show and sorry about technical problem earlier we wanted to hear your point of view and we got it. melyda thank you very much indeed. okay. here's what's coming up for you. the white house warning turkey that the the administration will not forget turkey treatment of the american pastor who has been detained there. saying even if he is released, that doesn't mean sanctions will be lifted. we'll talk to someone who is actively trying to get pastor released. and we broke it here yesterday. the fec is investigating it's

la. i want to know what elon musk could have done wrong and what parking lot consequences could be. former fec chair harvey pitch will answer those questions later this hour. governor mike huckabee tweeting problems off the a red eye flight that kept him on ground for 40 minutes well e had got off the plane and he's with us next. that's the good news. [laughter] ♪ you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia.

>> we're up over 300 points on the dow industrials, with that's better than 1.25 we're off, running it is a reallily boeing raised their price target. they say ubs boeing will go to 515 dollars a share. it is currently at 343.

that will be a rally would it not? now this vermont, first transgender candidate for governor christine didn't have much to say about socialism when she talked to cnn john berman she's from vermont. roll tape. >> when faced with the choice between the two it does sound look like you have more favorable behind socialism. >> well, yeah, and i'm not sure i even know what socialism is so i just don't have the background to answer that question. >> you're in vermont and you don't know what socialism is come on please. mike huckabee former arkansas governor, nobody seems to -- on the left people don't see enough to define socialism i don't think they want to. what say you? >> the most ridiculous statement that this person made was i just don't like labels so i like to go shopping with this individual and go to a store and take labels off can goods and say

pick something because afterall labels are something in the way. so let's not have any labels. the labellism that we call socialism is -- clear understanding of an economic system that does not work. and the label we call capitalism is the reason that america is the most prosperous nation on earth. it is the reason that poor people who grew up like i did can end up having a good life because of capitalism. and if you think of what socialism can do for you, look at venezuela once with was a prosperous country and turned to socialism and not enough toilet paper even for their population. that's the difference, and i like those labels. i want to keep them and for people that say they don't like labels it is because they don't like what's in the can that they're sitting on. >> now this, listen to what vermont senator bernie sanders said about the gop. roll tape. >> republican party is bankrupt

intellectually, they are not going to campaign on their views of giving tax breaks to billionaire and cutting medicaid. >> so governor huckabee are you intellectually interrupt? [laughter] >> to a lot of people i'm sure i am and that's to people who know me best. but bernie sanders once again throws this out that the only people who benefited from the economic policies were the rich people. that's simply is not true. the people that really benefited are the people who now have jobs in record numbers. people who are a minority african-americans and hispanics have the best job numbers they have ever had in american history. jobs for women are up dramatically, highest in 62 years. you have extraordinary changes in the way jobs are -- are now happening for everybody. which means bonuses, large or paychecks. that's money they take home to their families. i don't know why bernie is so burned up about people doing better pip guess he wants them

to do worse well that's the message to take to america. when it comes to november and ask him. if you want bernie sanders america where -- no matter how hard you work the the government takes it away and redistrict it is. that's socialism. if you. the to work hard, improve things for your family, that's capitalism, and that's what republicans are going to keep trying to do. >> i want to save one minute govan so that you can deal request that tweet that you sent out after your plane what stuck this morning. i'm going to quote you one hour after landing, got to far away gate where american air will hopefully get us off this plane medical personnel at gate home it is not because i got that straw in california. [laughter] sarcasm is low form of whit i'm laughing -- [laughter] >> well if it is going to be lowst form of humor you can rest assured i'll be a part of it. i say thanks to american airlines they handled it very professionally. apparently someone was ill. they were clear by the doctor to fly but got there they were sick

and they, you know, were taken off with with gloves and mask and all and they were thinking we might have to be quarantined but thank goodness we didn't. but it was a delay and i think airline handled it very professionally and very calmly to their credit. >> glad you made it governor. we always like you on the show. >> me too. >> you're not a man -- >> you need a straw i'm your guy. >> careful now. governor see you soon. >> thank you. >> the north face, outdoor clothing company moving out of san francisco, why and where are they going? >> parent company is splitting to two. one company that sells denim jeans but north face is as we know with famous symbol on jackets outdoor wear climb a mountain 1966 where this company began. they are now moving to -- the mile high sty denver seems

more appropriate girch the kind of gear they have to be about 650 jobs moving with them. they just feel like that's a better location for them and i'm sure taxes are a little a less too. >> not to mention environment of the city itself. it seems more -- appropriate. put away your upper class. for a second coming up, serious stuff here. florida declaring a state of emergency. the worst red tide or green slime in ten years. question -- is there a short-term solution? please find out what's happening on the ground later this hour.

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>> wendy's sold its stake in inspire brands that's the company behind arby's buffalo wild wings. wendys is a buyback plan for the stock and look at that 11-year high for wendy's stock up 2%. mcdonald's spending 6 billion nationwide for modernize its restaurants lauren simonetti back with us. after a long delay here -- what do they do to modernize their restaurants? >> they look nothing mcdonald's i went to one with yesterday there's a huge coffee bar. i actually got coffee cake. a chocolate coffee cake at mcdonald's. but they're bringing it was delicious. they're bringing in technology you've seen them at mcdonald's in other restaurants, you place your own order. okay that's great. but mcdonald's is spending $6 billion on themselves, are they going to pay all of these workers more money so you can press your own order? >> are they cutting staff? >> they say no and work reverse going to help you with the kiosk

because let's face it it is confusing at first and i told you this didn't look like a mcdonald's table service bring your order to the table for you. does that sound like mcdonald's? >> not yet but more than safing money and going technology. it is rearranging whole idea of fast food if you have table service, that's very different. >> very different. indeed and will be still staffed if fast food is it still fast and cheap is the other question. >> my demand i want it fast and cheap. and technology doesn't deliver that, i don't to know. >> that's what it says on your business card. i want it fast and cheap. >> it works we're out of time thank you very much lauren and welcome back good to see you coming up one of the groups that is trying to treat pastor in turkey in touch with his family and he's held simply because he's a christian. we'll deal with it.

♪ help, i need someone, help stuart: john lennon said this was his best songwriting effort. really proud of this one, the way he got it all in. food song. i'll take it. i will take this too a rally. session high on the dow industrials this is the high of the day thus far. where are the big tech names? got to check them. they're up except for facebook down. amazon, apple, alphabet, microsoft on the upside. walmart up 9.9%. very close to $100 a share. profits up, sales up, the stock straight up. if those gains hold, walmart will gain more than $24 billion

in value. ashley: not bad. stuart: i'll take it. back to trade. china reopening trade talks this month. joining us the author of "bully of asia, why china's dream is the new threat to world order." welcome to the program, steve. china seems to be feeling trump's heat. the tech sector is under a great deal of pressure. does that mean president trump's pressure is working and when the trade dell probation gets to america this mon they will have some offers for our president? >> oh, absolutely i think there is no doubt about that, stuart, because the only sector of the chinese economy that really works according to market presence pills is the export sector. that all depends on the orders from big box stores coming into china at a high rate. guess what is happening now? the first round of tariffs that

trump imposed on china have probably dropped the chinese gdp growth by half a percent. if we go full trump on tariffs, that will impact the chinese economy even more seriously, probably dropping the growth down by a whole percent or two. what that means is, the 21st century, which was supposed to be the century of china may actually wind up being the second american century, which would be a good thing for all of us. stuart: it will be very difficult for china to come to an agreement without losing face. they must not be seen to publicly back off and lose. what would be the shape of an agreement which would satisfy that demand, don't lose face? >> i think people in the trump administration understand that chinese economy has several structural problems. it has an aging population because they killed off 400 million of their own people through the one-child policy they have a growing debt

problem, government debt, off the books and on the books. they have inefficient investment. we have a bridge to nowhere in this country. china literally has thousands of bridges, roads and buildings to nowhere. investments made by corrupt officials with bank officials using soft loans, investments that will never be paid back because those buildings are standing empty. those roads and bridges are not being used. so i think -- [no audio]

>> i think the tables dramatically turned over the last two years. now they're in a position of supplicant. we should demand a reduction in the trade surplus on their part dramatic reduction. stuart: fascinating. steven, i wish i had more time. i don't, come back see us again. steven mosher, great book. great interview. appreciate it. i want to move to turkey, press secretary sarah huckabee sanders says even if a detained american pastor andrew brunson is released, that doesn't mean sanctions will be lifted. joining us the chair of open doors usa. you sir, you're trying to get pastor brunson out. but if, even if we drop the

sanctions, they're saying, which way around is it? things look grim. things look grim for getting the man out, would you agree with that? >> i think turkey put themselves in very difficult decision. they used hostage diplomacy. they have a small church in coastal city, they're making him a pawn in larger political game. they're trapped. they have to find a gracious way or any way to get off the very difficult position they put themselves in. the answer lies in the very charges they brought against him. in the 62-page indictment, they said he has been accused of christianization and tieing that to terrorism. the charges are so thin. all they really need to do say, look, there is not enough here. they can back out of this. what that does to sanctions is

unclear. that would be obvious first step, because so obviously injustice done to the pass sore in turkey. stuart: he is a hostage by any other name. so the charges against him are i recall. when you have got a hostage, you have got a hostage. >> that's right. he is a hostage. he is, the president of turkey said he would trade this pastor for his political enemy that is living in the united states. he has drawn that conclusion himself. why we call hit hostage diplomacy. you're right the charges are irrelevant but at this point the sanctions that the trump administration and the state department brought against turkey, are having as you all know having a lot of impact on their economy and their currency. they will need to find a way to resolve this. what i think is draws attention to is the larger issue, the rise of christian persecution against christians in turkey an around the world.

we have seen a shocking increase in this. stuart: have you seen that in turkey? >> we have seen it in turkey. stuart: i asked the question, turkey wanted to become part of the european union. the terms for getting into the eu, you have to open up on the religious front. your group is there. are you telling me that they absolutely are not opening up on the religious front and christians are indeed persecuted to this day? no absolutely saying that. we have the largest grassroots survey of persecution of christians around the world. the world watch list, they are 31st on that list. there are people greater perpetrators of persecution but turkey shifted the other direction. they are now rising their levels of persecution. they're targeting this pastor and the charge against him is christianization, saying that is terrorism. that is a clear signal to the international community that they do not respect religious freedom. that they are not going to give christians the same leeway in

society, even though pastor brunson is a model citizen. he lived in this country for 25 years. he has never done anything illegal or uncivil. all he has done is preach the gospel on sunday morning. he should have the right to do that in turkey. for people to come and listen to him, decide for themselves what they think. that is all we're really asking for pastor brunson he can operate as a free citizen in turkey has he done for many years. stuart: well-said. david curry, thank you for joining us. i hope we see you again. >> thank you. stuart: amazon is the story of the day, always is, amazon, pushing into the business of movie theaters? ashley: they haven't done it yet. they're in the running. they're bidding with other companies to get ahold of landmark theaters. i don't know if you heard of landmark. they focus on foreign films, independent films. they have 50 theaters in the country. there is their logo. they're in l.a., san francisco, philadelphia, chicago, all the main cities but it is an

interesting incursion. amazon gotten into the film and tv arena, music. why not get into brick-and-mortar theaters? very interesting. by the way, this company, landmark is backed by billionaires mark cuban and todd wagner. so it is kind of interesting. there has been a rule on the books in the u.s. where they did not want to have basically film studios from getting into the theater industry. stuart: ah. ashley: that apparently is being relaxed. criticism, a lot of small films never get proper distribution. if amazon gets in on the act, has a niche chain of theaters could change the game a little bit. stuart: amazon the story of the day. ashley: into everything, aren't they? stuart: amazing. i think i can say with a fair degree of certainty everybody hates telemarketers. here is what is coming up for you, an app blocks the calls and the app trolls the caller? don't you love it.

it is next hour. first tesla getting subpoenas from the sec about musk's tweets going private. i want to know what he could have done wrong. what did he do wrong and consequences what they could be. former sec chair, importantfy, harvey pitt, next. ♪

♪ ashley: president trump is revoked the security clearance of former cia director john brennan and, general jack keane told us, the president is right. roll the tape. >> there is no doubt he has the authority to do it. it is indisputable, that he can take a look at anybody's clearance and then take away the privilege of having one for whatever reason. he doesn't even have to share that reason with us. what i would have preferred him to do, stuart, though, relook the whole policy of security clearances after people are out of government service. why do we tolerate that? and i mean it is not that they shouldn't have it for certain periods. ♪

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stuart: i got two retailers for you, both of them way, way down. first up jcpenney is down 23%. they lowered their outlook. when you do that especially when you're in the shape that jcpenney's in, down you go.

buck 85. buck 86 is the type of the stock. play the organ music. remind them of sears. dillard's loss money last quarter. down 12%. two retailers not doing well. how about tesla, the sec sent subpoenas about elon musk's tweet about take the company private. joining us is harvey pitt, former securities & exchange commission chair. harvey, welcome to the program. good to see you, sir. >> good to be with you. stuart: what is it musk could have done that would be illegal? >> there are potentially two areas. the first is, he issued his tweet in the middle of the trading day. that's highly unusual and very problematic. usually announcements are made before the market opening or after the close. the sec probably will look at whether he had an intention to influence the price of the stock.

as you know it took a big jump up after he made his tweet. the second issue they will look at, which is the more substantive in this particular case i think, is whether musk committed fraud. that is, whether his statements that he had funding secured and enough to pay shareholders $420 a share was in fact true. those would be the two issues, based on his subsequent blog post, it appears he did not have secured funding, even though he said he did. stuart: okay. without being pejorative, if that is the case, that he did not have the funding that he said he had, what are consequences? >> we, the consequences range from civil lawsuit by the sec seeking injunctive relief, a court order saying he can not ever do that type of thing

again. the sec has penalties that could bar him from being an officer or director of a public company if a court agrees with it. and he could pay significant amount monetary damages. in addition, although perhaps less likely every violation of the securities laws is also a potential criminal case. so he could face criminal charges as well as civil charges. stuart: again, without knowing where this investigation will actually lead and what conclusions it will arrive at do you think that elon musk's time as ceo, the runner of the tesla company, is limited? >> it is very hard to say right now. particularly because he is an outsized personality. he is one of the rare ceo's who defines his company rather than

the opposite. therefore i think the board will do everything in its power to try and keep him in place, but his conduct here looks very, very problematic. stuart: for many years you chaired the sec. have you seen anything like this before at your time in the securities & exchange commission? >> no, i have seen a lot of strange things but this may be one of the strangest things i've ever seen. stuart: is it legal, is it okay, so to speak to make this announcement by tweet? >> it's potentially troublesome but it is not illegal and my view is, it is not the medium here. it was his message. the message and the timing and the manner in which he delivered it were all highly problematic.

stuart: when the sec is look at the secured financing for the privatization, how long does it take to look into that? >> it shouldn't really take a long time but they will node to take testimony. so there will be testimony, first document production which, if the news stories about subpoenas is correct, will start fairly shortly. and then there will be interviews. then the amassing of that data will have to be analyzed and then a recommendation has to be made to the five commissioners. so we're looking at months, not days or weeks. stuart: that's a long time in this business. harvey pitt, thanks very much for joining us, sir. we do appreciate it. >> my pleasure. stuart: yes, sir. show me the big board please, i think we have a high of the day, pretty close. now we're up 3 55 points.

25,500, we're up almost 1 1/2%. got it. here is what is coming up. florida declaring a state of emergency over the toxic algae blooms. question, can this be fixed with a short-term solution? can you do something about it fast? or does nature have to take its lengthy course? we'll find out next. ♪ this is not a bed. it's a revolution in sleep. the new sleep number 360 smart bed is on sale now, from $899, during sleep number's 'biggest sale of the year'. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to put your pedal to the metal. and now, all beds are on sale. save 50% on the new sleep number 360 limited edition smart bed. plus 24-month financing on all beds.

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stuart: state of emergency in florida because of two major algae blooms that are killing marine life and really hurting tourism. carl havens back with us. let's get right at it, sir, can anybody be done in the short term? i don't mean to be silly about this, but can't you spray this stuff with something? >> that is reasonable question. if it was happening in a small pond you could do it but the scale is so large that reasonably there is not something that is going to be a quick fix. although if a tropical storm came through, it could be gone in a day. the bad thing is, that we have a situation in our lakes and along the coast that is such high

level of nutrients that the weather largely controlling now whether or not these things happen. stuart: last time you were on the show you told us that this was really the result of agricultural runoff, fertilizer running off into the streams which runs off into the sea. it occurs to me that takes a long time to turn that whole thing around when it comes from runoff of farms, right? >> to put this into context we all here in florida love being here. it's a nice place to live, right? we like our clean beaches and we like the clean springs. but we also like when it rains there's a system that takes the water off our lands so our houses don't flood. we like fresh fruit and vegetables. now, you know, currently the agriculture has ways of controlling nutrient pollution quite well. most of the houses are on central sewage. didn't used to be that way. we're seeing a lot of effect the we call it old legacy pollution

when those things were going on. it is spread out over the land and difficult to control. stuart: i understand locals, that is millions of people between tampa and naples are really annoyed about this? >> sure they are. they're seeing pictures on it. v of dead fish on the beach. they couldn't go to the beach. i couldn't go on vacation this year. my wife has asthma, if we ended up on beach she would have bad rest at thatter to problems. stuart: carl, thank you for joining us again. come back to give us a progress report. this is fascinating america. >> i will. stuart: thank you, carl. new york governor andrew cuomo says america, quote, was never that great. excuse me? my take on that coming up at the top. hour. ♪ metastatic breast cancer is relentless,

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stuart: democrats have a negative view of america. they don't seem to like it. case in point, governor andrew cuomo of new york answering president trump's slogan of make america great again, the governor said, it was never that great. when challenged by the president, the governor went further. here is the tweet. what you say would be great again would not be great at all. we will not go back to discrimination, segregation, sexism, isolationism, racism, or the kkk. doesn't that remind you of hillary clinton? we're all racists, sexists, homophobic, xenophobic, islamophobic deplorables? that is one of the reasons why she lost. what a como democrat downer. that is what it is. how negative can you get. they see a horrible america a country full of victims. they're angry. they are humorless. they are the blame america first

crowd. how quickly they forgotten the inspiration of fdr, jfk, both democrats. i can't resist making this personal because i do take this contempt for america personally. do they really think immigrants like me come to this country believing it is a rotten to the core kind of place? what an insult to america. what an insult to people like me. was i a fool to come? i will say it again. when i first set foot here over 40 years ago, it was like a breath of fresh air. i knew immediately that america was wide open, you could go as far as your brains, talent, drive, and ability would take you. individual liberty, that is american greatness and that's what the left chooses to ignore. the third hour of "varney" and company is about to begin. ♪ yes, we will get back to that little editorial rant, there, but first i want to alert be

happening n.o.w., this hour i should say, president trump holding a cabinet meeting at the white house. any headlines, video, you will get them fast. this is a rally. we're up 346 points. 29 of the dow 30 are in the green. they're up. big reason for this rally or part of the reason is walmart. the sales growth at a 10-year high. the stock is up nine 1/2%, 98.93. it touched $100 a share. that is the stock of the day. back to my editorial. i want to play the sound bite from new york governor cuomo for our audience again. roll tape. >> a simple point is all this comes down to this, we're not going to make america great again. it was never that great. [shouting] we have not reached greatness. stuart: just what a downer? the man wants to run for the

presidency with a message like that, we're all rotten? joining us now, is david avella, go pac chairman. david, i am speechless. i can't believe a democrat leader would go to america with a message that america sucks. i can't believe it. i can't believe it. >> every democrat should be asked if you agree with andrew cuomo's comment. what you find more than a third of them will say yes. this is a party that now believes socialism would be a good thing for america. they trot out progressive candidate after progressive candidate who is winning these primaries and cynthia nixon is giving him quite the run for his money, even getting reelected in new york and don't be surprised if she doesn't pull off an upset and actually beat him. in a state that is traditionally very democrat and very progressive, she is giving them the choice of why take a fake

progressive andrew cuomo, when you can have me who is real progressive. stuart: terrible message, terrible message, really is. their world view is dreadful. latest poll from cnn found 52% of respondents would vote democrat if the midterms were held today. 41% said they with vote republican. skewing the vote very much in the midterms towards the democrats. what is your response to that? >> generic is not on the ballot, stuart. candidates are on the ballot. candidates will have a republican message, they want that or the democrat candidate, the message they want. here is the point point to make, in step after step, issue after issue over the last two years the democrats have been flat-out wrong. they were wrong about the president's tax cuts. they have actually started creating jobs. they were wrong about the economy. they said we would never get the growth rate we're getting right

now. we're actually getting it. they say we don't need a secure border. americans believe we need a secure border. on every major issue the democrats have been wrong. and so as we go into these elections, this isn't generic. this is specific condition dates that voters will vote for and i would offer to you, as we get closer to the election, and people really start looking at the choice they have, the chances republicans have to hold the house increase. stuart: but do you think, david, that the president's tone and demeanor, his style, put as the lo of people off? >> certainly. there are people who, that it turns off. the question, do they like the results we're getting in america? all the categories suggest they do. consumer spending is up. people going to restaurants is up. people have more money in their pockets because of tax cuts. there are more jobs and workers. on every indicator how our economy which many voters vote on, that indicator is

all-americans should be quite pleased and are quite pleased. stuart: we have kevin haas set coming up from the white house. david avella. good to see you. get to tesla. we talked to former sec chair harvey pitt, a very important regulator. he said there could be a serious problem of fraud because of elon musk's tweet that he had secured the money. he said the investigation could last for months. jeremy owens, market watch technology editor, san francisco bureau chief. jeremy, i don't know whether you heard harvey pitt, he was raising serious red flags there for elon musk and tesla as a whole. do you still think he has to go as in musk has to go? >> if this stays public, yeah. this will be drip, drip, we'll keep seeing this come out and hearing harvey say it is one of the strangest he can remember, with the length of time harvey pitt has been watching

the market, brings in more this is not normal. this is something that can not continue in this manner. if he can get it private he will stick around but if it stays public -- stuart: he needs to raise 65, $70 billion, i don't know the exact amount, how do you raise that kind of money when you have the sec investigating you and your statements about raising money? can you do it? >> well, i mean i suppose he could. he says the saudis have the money but he put himself in horrible negotiating position. the saudis know what he wants and has to get funding from them, because he is telling the sec funding was secure from the saudis. he has to really work with them. they know exactly what he wants. they know what he told investors on twitter, what the deal is going to look like. they can go into a negotiating room to hammer him on every point because they know exactly what he is coming in with. stuart: here is a report from bloomberg, suggesting that musk could raise the weekly output of

model 3s to 8,000 cars per week. that's, that's a very positive thing for tesla, isn't it? >> sure but, you know, he told people that he expected to have 20,000 cars a week before the end of last year. you know, until we actually see it i don't trust any kind of production forecast from tesla or elon musk at this point. until we actually see it happen on a daily basis, i want to turn to nvidia. i know you cover it, you follow it, and you say nvidia will be the true driving force behind autonomous vehicles. we've been watching the stock go through the roof, straight up for a year or two, you think this is the driving force behind, what, autonomous vehicles? >> sure, sure. artificial intelligence, machine learning, deep learning nvidia is fascinating. this cop made gear that made video games look pretty. three years ago it comes out, you know what guys, we can use

these same things to affect deep learning and data centers and cars make autonomous cars and suddenly, what you said about the stock, we're at like 10-x, 15-x over the last few years. we've seen revenue double, we've seen profits triple and the auto money still isn't quite there yet. that is what people are waiting for, see money flow in from selling gear for the cars. stuart: jeremy, thanks as always for joining us. you came on the program originally because you called elon musk a jerk and you're back because he might not be around unless he can take it private. you're all right. >> keep coming. stuart: you have a deal. thanks very much. some individual stocks we're looking at doing very well, look at cisco, rosy forecast it goes 4% on cisco. jcpenney going the other way, weak results, not so rosy forecast. it is still down 22% no. >> check this out, an extremely

rare nickel selling for more than four 1/2 million dollars at auction. elias berg 1913 liberty head nickel. only one of five produced at the third philadelphia mint. no word who the buyer is. we have gotten all the annoying telemarketing calls. a new company has a new app, you can use it to troll the telemarketers. the app's creator joins us later this hour. a very welcome guest. new developments on trade, nafta talks resume today and talks with china set for later this month. i want to know how close we are for reaching any kind of deal. we'll ask the white house next. first, take a trip to nashville, tennessee, how it is looking this morning. a little cloudy. ashley: a little cloudy or stormy. ♪ roads named 'park' in the u.s.

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stuart: china, and the u.s. will resume trade talk later this month, and talks on trade with mexico are on going. joining us now white house council economic affairs chair kevin hassett. kevin, i know you're not a trade guy, i understand that, but you have to talk to those guys. they're probably in the office next door. are we close to a trade deal of any kind? >> right, well, let's update everybody on the three things that are ongoing and in the news already. first, that there are mexican talks going on very close to the finish line. in fact, ambassador lighthizer who deserves some kind of a medal for all the hours he is putting in, was meeting yesterday with folks and some of us will be even meeting later today as well and i think we're very confident that most of our differences have been worked out there. with europe, you know, mr. juncker came here, and had a great meeting with the president and set a chart, charted a course forward for dealing with europe that will be exactly what

president trump promised voters, fully fair and reciprocal trade deal. now china reached out with a sort of lower level official, trying to maybe decompress things a little bit and start over again with the talks and we certainly have a lot of asks of china, but the fact that they have reached out, they're sending someone over to meet with david malpass is covered in the news is a really good sign that the president's negotiating strategy is really working. stuart: so we can leave it at this, positive developments on trade talks, are you comfortable with that? >> left and right. stuart: near a conclusion with mexico, right? >> that's correct. stuart: hopeful with china, right? >> well, i mean the china thing, i'm not going to step out in front of that. i'm not the trade negotiator but it is good news for everyone who is charting a course to the president's ultimate objective of zero tariffs and zero non-tariff barriers on our stuff so our exports have access to the chinese market.

the fact they're coming back to talk is a good sign. stuart: i will chuck some red meat, you can respond very favorably. here it is. a study from the goodman institute, found most of the benefits of president trump's tax reform are not going to the wealthy. they're spread around. go at it, please. >> yeah, that is absolutely what we've been saying back on your show in the fall. we took a lot of heat for that saying productivity would go up, capital spending would go up and ultimately wages would go up. if you look at the latest data, we got productivity data highest we've seen in number of years. capital spending is booming, that stuff historically helps blue-collar workers. you and i have practically no productivity at all, right, but definitely the case machines don't make us more productive or affect our wage. a typical blue-collar worker without a college degree, more productive, better machines, that guy's wage will go up because productivity is skyrocketing right now. absolutely the benefit from the growth, the lower unemployment

and the capital formation it is maximal for people who need capital to increase their productivity. not nerds like me and you. stuart: me and you? me. i'm productive. i have a three-hour live show here on fox. >> it is true. a lot of revenue from ads that's true. stuart: so i'm told. this is the last one for you, kevin. i know we're going to get another good response. new york governor andrew cuomo says the u.s. was never great. what do you say to that? >> well, you know i would have to look at the context to see if there was any possible thing around that to say to make it defensible but it is just not correct. the u.s. is great again. we sure got work to do. look at it, we're growing 4%. gdp for the third quarter is north of 4%. can you imagine if we get two quarters north of 4% in a row, that is a great economy but think about the accomplishments of the greatest generation, so an, america has been great for a really long time. stuart: how about, d-day?

how about the moonshot? how about -- >> my uncle burns first deployment in world war ii was reinforcements at bastogne. you can't tell me uncle burn was not great. he was pair -- paratrooper. i think we did lose connection with things that made us great the last few years. president trump reconnected to us free-market capitalism is again begin of breath for everybody. we need to stand up for ourselves in international community. he has done that. look what markets are doing. what growth is doing. i think we're, are we absolutely great again? you know what we've always been great but we sure have improve ad lot. stuart: you could have pounded the table, kevin. i know there is no table in front of you, there is no table. >> music stand here i don't know cuomo. maybe he is a good guy. i don't know. probably not if he says stuff like that. >> give you a chance. i opened up for you.

kevin hassett, everyone. he is all right. >> thank you. stuart: the active ingredient in the popular weed killer roundup is found in a strange place. we'll tell you where after this break. but first, first time ever, people riding the subway in one city will be going through a body scanner. that is a first. we'll tell you where it is. we're honoring aretha franklin, the queen of soul died of pancreatic cancer. she was at her home surrounded by family. she was the first woman inducted into the rock and roll hall of fame. she received the presidential medal of freedom. aretha franklin, 76 years old. we'll play one of her most famous songs. as we go to the break, here is a look at aretha franklin's star on the who book walk of fame. -- hollywood walk of fame. ♪ respect, just a little bit

stuart: we're holding a gain. we're still up 330, 340 points. 25,500. look at boeing, ubs says the stock will hit $515 a show. it is at 343.

you no there is a positive forecast. general electric, where is it? $12 a share. it is coming off its nine-year low. 12 bucks, ge. tesla is up after a new report about its model 3 production goals. that report came out. we broadcast this a few minutes ago. tesla was down two bucks. now it is up one buck. if they make 8,000 model 3 cars a week. that is very good. ashley: very good. stuart: now this, the chemical found in the weed killer roundup has been found in rather strange place. ashley: given away in the video. how about your cereals, or lucky charms? there is group, called environmental working group that is actually their maim. tested a bunch of oats, most of these are oat-based materials. they are looking forgly phosphate, found in the weed killer roundup. the farmers spray the weed earlier on the crops

pre-harvest. there is belief some will show up in the cereal. they did a bunch of testing. the worst product they found was from quaker old-fashioned oats. levels of 1000 parts per billion. they say that is high. quaker came back and say we proudly stand by the safety and quality of our products. we should point out these levels that you're pointing out are significantly below any regulatory limits. the bottom line is, the environmentalists say, we shouldn't have this showing up at all but the it does. stuart: okay. there is no proven scientific link between cancer and glyphosphate? ashley: there are huge exposures. you could provide a link with cancer. but the government, you know, scientists say, look, it's safe. certainly not at these levels. but you will find it in the lucky charms, ultimately that is where the oats -- stuart: got it. the feds looking at new regulations for bitcoin and other crip cocurrencies. well those regulations maybe bring legitimacy to the crypto

marketplace? we'll ask that question of someone who knows the answer. president trump going to hold a cabinet meeting in a few moments. we'll report any headlines. first of all, take a look at, where are we going now? philadelphia. there you have it. ashley: brotherly love. stuart: nice day. ♪ ..

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stuart: gone up some more. all 30 of the dow stocks of 356 points. that's the best part up 1.5%. a cabinet meeting about to be held in the white house. did we get any kind of headlines or statements took it real fast. let's get to the union dues. labor unions suffered a hit when the supreme court said unions could not force nonmembers to pay dues. now, the people who did pay all that money want their money back. joining us come at the man who won the case and senior fellow mark janus. do you want your money back? you pay the dues and want the money back. you do get some benefits for the

collective bargaining that was done in your name, didn't you? don't you owe them something? >> we did. it was a coerced fee that we had to pay and when i asked for the ruling it was because -- [inaudible] [inaudible] [inaudible] and it depends out the individual. they have to fork over the

money. are you just looking for the money you paid him to get that money back? or are you looking for some kind of damages or punitive action of any kind? >> well, no, when i filed the case back in 2015, i'm just looking for that. for not filing date forward. that's all i'm looking for in not right. my attorneys filed that and put that into the original filing. >> i think some will, but how far it how far we'll how far it will go effective unions and how much money you want to bend to friday. stuart: were not original ruling came down from the supreme court, you and your attorney must've gotten a lot of heat from the unions. tell us about it. >> well, yeah, we got a lot of heat, and that the reason i'm at the liberty justice center as we

find the unions are doing a lot of pushback and they are preventing people from getting out of the union which goes against the ruling. we've got union that are opted out on their facebook page trying to shame them. a lady in oregon. we have all kinds of people contacting liberty justice saying i want to exercise my rights, but the unions won't allow it and they are continuing to pay dues. he also got some states putting it into state law like hawaii is looking at trying to pay the union dues directly, bypassing the individuals. my question is that the taxpayer, would you want to pay money to a union from you know, and bypass the original members? it sure sounds like it. stuart: at the end of the date you want want to get rid of union or just reform them?

>> absolutely not. no. unions have a place and i sat along the unions have a place in this country in the history and what is needed for workers. what i'm only saying is if you become a member of the union, you should have the ability to voluntarily in order to join the punch card. catastrophe want to. don't force people that don't want to pay a fee for what they call a large lunch collective bargaining rights for flickr and it will evidence that the unions so my question is where is the other 80% go and that's part of what we haven't been able to find out train to fascinating stuff. thanks for joining us. i do want to go to the big board real fast, please. the dow is up 350 points. 1.4%. that is a big gain and it's held

all morning long. next case, bit coin met with the treasury department or will mean about regulating the crypt or currency market. my "avatar," founder. i'll put it to you. if you get some kind of regulation in the crypto market, you get that market stability and you give it legitimacy. >> we definitely bring billions of dollars to this country at this regulation will be placed. stuart: you want this? >> we want this because other countries are much ahead of us. they are actually attracting u.s. american arch murderers to incorporate technologies.

if we are not acting fast enough, we are losing our share. stuart: regulators stabilize the market is good. however, i've got to point out you know what's coming. group of currencies are based on no regulations. away from all forms of government and rules and regulations come into the fifth. >> exactly. like any other technology creating a little bit of fear. if regulations can help the governments to overcome that fear if they don't know what is coming in the future and they want a regulated, do it as fast as possible. if they feel comfortable and warn us, they want us to leave the future of this economy. they can sit back and relax. they have to do it as fast as

possible. >> your interest is not investing in bitcoin. you're interested a ziploc chain. >> lock chain is the real deal. regulation would open up the block chain people, that is you, ibm and others to a more stable environment. you want block chain. >> exactly, block chain. what happens, some of these block chains need crypto currency and our own utility until we face so everything is security. but they are actually used to bring investment to the companies and they can be used in the platform later by the users of that platform, which is the best case scenario.

ashley: i don't have a clue what you're talking about. >> when they give you an example. stuart: i will summarize it like this. crypto currencies, bitcoin wouldn't touch with a 10-foot pole. the underlying technology holds the promise. >> and they are the good that we have to define as soon as possible. then they give you an example. the utility token. we created a platform for user generated advertising. it means you advertise that beautiful suit to me and i buy it. you get a piece from the retailers. it is an bluebird for retail sales. who wants to attend these commissions come in millions of commissions every month for these people who are the new generations of the cell force.

stuart: you've totally lost me. >> every check cost $20, especially a fraction of dollars. with the crypto currency, people can get their share. it's a point system. stuart: totally lost me and i believe 99% of everyone. ashley: block chain is a digital register were all this flows from. stuart: done, kaput. benito. [laughter] thank you very much. stuart: you made your point. >> thank you, appreciate it. 362 points up, nearly 1.5%. that is a rally. the survey. wildfires raging in california. the feds are getting ready to announce a new strategy for forest management, for his

conditions about cutting trees to prevent wildfires. next, the senator who's working to make that happen. coming up, we have a communist fighting back against telemarketers. you're going to love this. locked in a battle for customers. one of them is offering free music and other new perks to get you to switch providers. not sure i'm going to be a customer. ashley: commercial? as we go to break again, los angeles. >> santa monica pier. ♪ until the day you leave for your trip.

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>> i'm nicole petallides victor fox business brief. how about some free music? t-mobile is all over it. in fact, t-mobile is teaming up with pandora and offering all kinds of new and existing customers get another perk, which is a free year which normally costs about five bucks. also special seating for events run by live nation. t-mobile has been saying it will beef up its customer service in unique ways. they even plan to hire 5000 to

6000 more workers in order to support their plan and make things great just for you. they also said they've added -- there were more paid customers as rivals over the last several years and of course we continue to watch -- we watched t-mobile and sprint. that hasn't happened yet. and a runny nose, plus nasal congestion, which most pills don't. it's more complete allergy relief. flonase.

ashley: los angeles will be the

first city in the country to an all body scanners on it vibrates. hold on the second. i walk into a los angeles subway. do i go through a metal detector? ashley: no, this is a trunk sized portable scanner that can scan up to 2000 people in an hour from 30 feet away. what are they looking for? weapons, explosives and averse to use this to cover big crowd to go into a privatized and a trunk sized thing can set up in scan from a very futuristic. it's a big deal. stuart: a new strategy for those wildfires clearing deadwood to prevent those fires and some of them getting worse.

joining us now is because senator from montana, steve gaines. mr. senator, welcome to the program. >> wanted to be here, stuart. stuart: establishes making these fires worst? before it does not manage. they don't cut away the deadwood. is that the problem? >> will never eliminate catastrophic wildfires, but we can reduce the severity and frequency of wildfires. here's the bottom line. either we are going to manage our forests or our forests are going to manage us. that's what's going on with these wildfires of the smoke we see. the forest is a healthy living ecosystem that is to be managed. when it's in a forest that helps promote wildlife habitat, protects watershed, creates jobs and tax revenues. there's a lot of wins, both environmentally and socially for a community is therefore allowed to manage. stuart: are the environmentalists allowing the authorities to manage the

forest? >> here's the problem. these extreme environmental groups play a bunch of lawyers versus bloggers. we need to make sure we put in reforms. for example, arbitration of disputes versus tying up timber projects in court. these are common sense price. sometimes we'll have beetle infestation that kills trees. we can even go in and send out dead and guiding trees. instead, they burn because of these extreme environmental groups. stuart: moving onto a favorite subject of ours here dear sir or pushing to set the ninth circuit court of appeals. you say that insures we all get access to the justice we deserve. so what is wrong with us to call it the 99th. >> i think we ought to call it the ninth circus, not the ninth

circuit. why do we have 11 circuit courts today? is the nation grows to keep dividing me to to make sure you've got the right ratios of populations and judges. the ninth circuit is way overpopulated. why? if the california center court. senator sullivan of alaska and i made this effort to take states like alaska, montana, washington, oregon and other states in the rocky mountain out west to create the neutral circuit court that allows us have faster justice and the courts in closer proximity to where the people are. this is commonsense reform in what has been done historically. it is time to free montana, alaska and other states and the ninth circuit and create the neutral circuit court. stuart: are you hopeful that will happen? >> there is a lot of inertia fighting us are not. the left understands the ninth circuit. it's an environmental activist

court. we are trying to set politics aside and look at the population. that's the issue by any metric the ninth circuit is overpopulated. it's overburdened, does not enough capacity. again, that's why we have one sugar corporate america. we divided up as the nation grows. it's time to create the 12 circuit court and get montana out of the ninth. stuart: that his music to our ears or come back anytime you like and have the whole three hours if you like. >> that's way above my pay grade, stuart. stuart: we appreciate it. we've got a new app fighting back against the telemarketers. this apt answers these calls, uses prerecorded messages to string along the robo collars, taught marketers. the apps creator joins us next. the first, and.

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stuart: and that's called robo killer fighting telemarketing calls patrolling them. listen to this. roll tape. >> no, no. what is this? cnn? >> and must be all over the internet. my god. >> what is it, tell me. you're me out, man. wasting their time. the vice president of product marketing for robo killer ethan garr, the hero of the hour. >> thanks for having me. stuart: first lock on how to get it it?

>> is available seat in the robo killer.com. >> how much? >> 249 a month but it stirs up a seven-day free trial so you can see it working for you. i get the telemarketing call. they waste their time. >> of blocks it. you didn't get the call. you got a notification saying we bought the call for you. our whole point is to stop these things are happening and save you from it. in the background intercept the call and answer it and that's where the magic is. answer but you can create on your own. that is when i did here you can create your own or pick one from our library. every time you get a robocall, we will answer back. stuart: the thing is you are hitting them. you are wasting their time. >> in their wallets, which is the important thing. you may not like it, the dairy business. stuart: wait a second, i

understand that the human telemarketer. i get a lot of computerized. does your app work with that? >> absolutely. blocking all of these unwanted calls. we are blocking them and we are getting to the humans behind the calls. they know how to press one to get to the human telemarketer and waste their time. robots talking to robots is in helping people as much as our robots talking to their human spirit when we do that, we waste our time and put them out of business. stuart: what happened to the no call list cities to ban landmines? it didn't work for me. >> it does exactly what it's supposed to do just not at all what is supposed to do -- people think it does. the 19 calls an average of getting a month or legal robocalls originating overseas. trying to reach into your wallet. stuart: i've got 20 seconds left. i'll make a commercial for you. is that correct?

robo killer.com. you get a free trial on this thing. >> seven days. stuart: after that, how much? >> starts at $2.49 a month. you can get a monthly subscription will cost you $2.49 a month or you can buy one at that time. stuart: mr. garr, you did well. thank you for joining us. we appreciate it. thank you very much indeed. yeah, there will be more "varney" after this. ♪ . .

stuart: have i got breaking news for you. once again from charlie gasparino. once again he moved the market. tesla's legal team bracing for billions of dollars in potential liability from private lawsuits over musk's tweet that he had secured financing for his offer to take it private.

>> basically they believe this could be a whole lot more, private litigation could be a whole lot more serious than the sec fine. stuart: the stock was up a couple bucks. charlie's report came out. it's down. neil, it's yours. stuart: wow, that is big news. thank you very, very much, stuart. we'll follow that. president is meeting with the cabinet. we'll get results of pool spray. they feed it out and you will see what the president is thinking and saying about matters pressing to his administration and those in attendance, including every single member of his cabinet. so we're on that. we're on reaction to the walmart earnings. out today. to the upside by virtually every single measure. guidance, earnings. tax cut is a big