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tv   Varney Company  FOX Business  September 7, 2018 9:00am-12:00pm EDT

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maria: great show, everybody. thanks for joining us. the point is? >> labor costs are going up. that will impact a lot of companies that is one of their biggest stocks. maria: why stocks are down. "varney & company." have a good weekend. stuart: good morning to you and everyone. it is jobs friday. here are the headlines in today's report. the strongest wage growth since june 2009. 201,000 new jobs last month. nothing wrong with that by the way, 22,000 new construction jobs. the real unemployment rate, it is called the u6, it is way down to 6.4%. the market turned a little lower after that report was released. they worry that interest rates will go faster. that is not good for stocks. the stocks remain close to or at record levels.
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now look at this. that smoke that you're about to see comes from marijuana. the guy smoking it is, tesla's elon musk. in a long interview on camera tesla's chief said he thought he was going insane when he was young. he smokes weed, drinks whiskey and looks lovingly at a samurai sword. you will see it all in a moment. we'll ask the question again, is this the right guy to run the tesla show. judge kavanaugh is out of that circus. the hearings continue but he is out of the hot seat. look at "the new york times," drafting in an economist to talk constitutional law. professor krugman says kavanaugh will kill the constitution. lest we forget, it was paul krugman on election night forecast a stock market crash which we might never recover. amazing how far hating trump will take you at "the new york times." here we go. we have a typical friday show. absolutely jam-packed.
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"varney & company" is about to begin. ♪ >> okay. >> never had that? >> i think i tried one once. >> come on, man. [laughter]. probably can't because of stockholders, right? >> i mean it is legal, right? >> totally legal. >> how does that work? do people get upset at you if you do certain things? tobacco and marijuana in there. all it is. stuart: priceless stuff, isn't it. recognize the face. of course you do, that is tesla chief elon musk, smoking weed live own the internet appearing on the joe rogan experience web show. did i miss anything out? liz: california, it is legal to smoke pot. this is three-month low. dipping premarket. because of this interview with
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him smoking pot that was like a chief and chong size, towel-sized joint. he tried to talk about electric planes. that is not in the future. that is not helping the stock. the chief accountant left after one month. that is the headline. stuart: wait a second. what is pulling that stock down this morning is not so much him smoking weed on tv. it's the fact that his accounting officer just resigned, his accounting officer. liz: that's correct. after one month on the job. he didn't like the pace and public attention, what is going on. he didn't talk about the cash burn at the company. junk bonds for tesla hitting historic lows. can they pay their suppliers? that is the issue right now. 31 people left the company over the last two years at least. stuart: it is a disasterous sign when your chief accounting officer, that is his title, leaves after one month on the job. evidently the man sees the books. liz: yes. stuart: he doesn't like what is happening to the company
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financially, doesn't like seeing his boss elon musk smoking weed on tv or putting out extraordinary tweets from a plane. liz: the joke is maybe smoking pot will chill out and not tweets because the tweets triggered an sec probe and a lawsuit. who knows. this is the talk of the market. stuart: we've overdone elon. the jobs report, joining us now, greg valliere, horizon investments kind of guy. i want to focus on wage growth, strong at 2.9% year-over-year only just canceling out inflation. what do you make of that? >> i think it's a big story. by the way i stick to red wine, stuart. stuart: to the heart i'm told. >> i'm told. i will live a long life. i think it's a big deal. it's a missing piece of the puzzle that wages have not begun to grow. i'm mystified by all the anxiety, oh, my god, the fed will raise rates.
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a rate hike on september 26th is been in the cards for months and a rate hike in december is likely. i don't think this is anything the markets din anticipate. i think the bottom line it is goldilocks number. stuart: goldilocks number? economy is booming. interest rates, inflation is is moderate, that's it? >> good corporate earnings. you have real health in the labor market. that is undeniable. stuart: okay. are we the only game in town? the american market, american economy, obviously both doing very well. the only game in town tore global investors? >> for now it is. let me throw you a contrary thought, stuart. if the democrats take the house, it looks likely, there will be immediate talk about impeachment. i don't see trump getting convicted by the senate. we could have a long trial, lasting late winter early spring in the senate before he is acquitted. global markets could look at this, think the u.s. political environment is not quite as stable as they would like.
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that is a dark cloud down the road in three or four months. stuart: got it. greg, stay there. more in just a moment. turn to "new york times" opinion columnist paul krugman. he says, i'm quoting directly from the headline, kavanaugh will kill the constitution. another quote quote from the op-ed. let me make a last minute appeal to republican senators who care about america's future, if there are any left. a little sarcasm there. don't do this, he says. a vote for kavanaugh will be a vote to destroy the legitimacy of one of the last federal institutions standing. that is extreme stuff. come on in, trump campaign advisor jeff balibon welcome back to the show, jeff. >> great to be here. stuart: destroy the legitimacy of the supreme court. have at it. >> hard to know where to begin. i'm going to begin, i'm not going to say it explicitly, you have hear of the randolini's law, i can't say it because i stay away from four-letter
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words. look up randolini's war. you said. these guys are johnny-one-note. president trump will kill the economy. the economy is booming. president trump will kill the constitution. brett kavanaugh will kill the constitution. they hate the constitution. second of all, what is fascinating it is they are johnny-one-note and the note is hysterical and shrill and insane. bret calf you? is one of the most distinguished jurists of our generation and everyone knows it. stuart: is the "new york times" the official party of resistance in the united states? >> notion of resistance is it fascinating. it should have no place in democracy. resistance means you want to fight the existing order. we have democratically elected president these guys have been trying to undermine from go. the more successful, the more he keeps his promise, more crazier and hysterical the rhetoric gets. stuart: extraordinary stuff. i have never seen anything like this before? have you? >> no. i was in the hearing room.
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people scream in the back are less offensive than the senators up front preening, making there is believe there is real process. we all know they will vote against him because they can. stuart: you are a trump supporter, i take it? >> absolutely. stuart: i i want to get back to greg for a second. i want to bring up krugman with you, greg. as you remember i'm sure, this is what he said on election night. it really does now look like donald j. trump and markets are plunging. when we might expect then to recover. if the question is when markets will recover, the first-pass answer is never. greg, have at it please. >> i have seen something like, that was with reagan. everything reagan did was viewed apocalyptic. would ruin the economy, ruin the country and it didn't happen. all this talk you cannot have sustained growth at 4%, this quarter i think will be even stronger than last quarter which is 4.1. we'll not stay at 4% forever, i
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think gp growth, labor market growth, will stay hot for at least a couple quarters. stuart: greg, i have never seen this kind of extreme language before, i lived in america for 40 years. i have not seen this before. "the new york times" is running this columnist krugman, kavanaugh will kill the constitution. what on earth is going on, to you? >> they're preaching to the choir. i think they know their base. they know their readers. it is good for subscriptions and rather than take a balanced view, they're preaching to the choir. stuart: what does it tell you about the choir? if they're preaching this extremism to the choir, what's the choir? >> yeah. i think the choir is virtually rooting for things to not go well. i think that is very -- stuart: that is appalling. very appalling. >> very appalling i agree. stuart: i have 30 seconds left. i want to bring in jeff. you have the last word on this. >> i think the point is exactly right. they're rooting of failure not of the president but of this
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country. he is phenomenally successful on the economics front, jobs front, across the board, own the foreign policy front. the prime minister of israel put out annual rosh hashanah video. it features what donald trump has done which is huge success for state of israel. on foreign policy front things are realigning. talk about the "new york times" op-ed, donald trump is successful, they're claiming despite him, everything he ran on, everything he promised, everything he is doing despite them. he is doing it on his own. stuart: jeff, thanks important being with us. we appreciate it. greg, same to you. we'll see you room soon. where is your money this friday morning? we're down for the dow industrials. a lot of people saying that that jobs report will mean faster rate increases by the federal reserve. we're down 100 points. that still puts just below the 26,000 level. president trump is still sharply critical of that anonymous "new york times" op-ed piece, calls the person who wrote it, gutless. what they have done is quote,
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virtually treasonous. you will hear it. check apple's stock. working on a new streaming service to rival netflix. morgan stanley says that streaming service could be worth billions. we have the numbers for you. about-face on the oscars. after deciding to add a popular category, the academy is dumping that idea. no popular movie award. this is the friday edition of "varney & company." we're only just getting started.
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stuart: turns out there will not be a pop heart movie category at the oscars this year -- popular. liz i thought they were bringing this category in because they want to raise ratings. why on earth have they killed it? liz: it undercuts the best picture oscar. the idea blockbuster megahits like marvel comics movie black panther.
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they get a doppler owes car would boost ratings. they are not going to do it. backlash, criticism. what are you doing. they're in the real thick of it. because they're trying to stop a ratings plunge. the best blockbuster movie ever was titanic. stuart: very popular movie. liz: you know what we'll do a popular movie category. uh-uh, not this year. stuart: if the winner came up on page, that winner might be a trump supporter. you can't have that. liz: you can't have that. stuart: president trump, he was on "fox & friends" this morning, commenting on the op-ed by that anonymous administration official. roll tape. >> number one, the "times" should never done that because really what they have done is virtually it is treason. you can call it a lot of things but to think you have somebody in all of the cabinet, so many people, as you know, they came forward, they're writing editorials. they're all saying you know, got to be at fairly low level. stuart: the president used the word treason, i do dough claire.
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come on in, larry o'connor with the "washington times." what do you make of the use of that word, larry? >> well, listen i understand the emotion behind it, technically the word treason only occurs during a time of war. so technically this would be sedition, how about that? stuart: all right. we'll take it. >> either way from the president's perspective this is betrayal. this is betrayal by someone who he has given the opportunity, the great honor to work in the executive branch of government. according to "the new york times" at a senior level, they are betraying him. thereby betraying the american people who voted for him. stuart: by the way, the "times" is not saying how senior the senior official is. it could be anybody, for heaven's sake. could be somebody we don't know. just a low end of the food chain, making this remark. but i want to ask you, what do you make of "the new york times" itself? they seem to have taken on the role of defacto opposition to the white house? >> yeah. i think that there is a lot of -- well, i think there is a lot of energy on that side of the media equation right now,
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let's face it, stuart. they're not the only ones who have sorted decided to jump on board, be the voice of the resistance. i think there is a lot of brands who are vying for that identity. the fact of the matter is, from my perspective as conservative in the media, a conservative voter in america, the new york times has always been that. now they have taken the veil away. they're now letting their readers know exactly who they are, where they stand. they're not pretending to be objective. frankly as consumer, i find that refreshing. now i can make my decisions. stuart: we have got news this morning, we have news for some time. the economy is booming. is that enough to turn around the election in november so republicans keep the house. >> i'm not sure. we need some republicans to embrace the numbers and run on it. i don't know why they're not. listen, we're the vote that keeps the trump fend today moving along. that is the locomotive driving this economic engine right now. tough keep us in the majority.
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i think to tie both topics together, stuart, the president needs to do so much more of what he did last night. get out of this town where he is under siege. where people are working against him. get out to do the rallies. go to voters. get that energy going between now and election day. not only will he help all of those republicans in those states where they need the help right now, but also gets him out of here where people are literally working against him and trying to undermine his presidency. stuart: i believe he is going to fund-raisers in north dakota and south dakota. i think he is going today. >> i hope he does. i hope he does a rally everywhere he goes. it really does help him. stuart: can you see him coming someplace and not doing a rally? come on. larry, we love you. thanks a lot. >> thanks, stuart. stuart: check futures, are we down a little more? no we're not. we are down 86 points. that is how we're likely to open this morning. look at the nasdaq, down 50 points at the opening bell. by the way another big storm brewing in the atlantic.
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we have reports that after taking a leave of absence their chief people officer is leaving the company for good. earlier this morning, reported that their chief accountant, accounting officer, is leaving. he had only been on the job a month. down we go. $22 lower for tesla. falling out of bed at 258. hurricane florence could pose a threat to the east coast next week. janice dean in the fox weather center with the latest. the latest, please, janice. >> the latest if you leave along the east coast, stuart, you need to make hurricane preparations this weekend. we don't know where the storm is going but it is increasingly likely we'll have a east coast threat. we point out the tropics are busy. we have florence and two others that will develop the next couple days. in the pacific, olivia could threaten hawaii around the same time florence threatens the east coast. this is a big deal obviously.
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september in full swing. peak season. this is the latest track, we are expecting it to strengthen, to a major category 3 storm as it moves south of bermuda and computer models are in good agreement right now, stuart. we'll really have a handle over the weekend. however right now the euro model is showing landfall thursday somewhere along the southeast coastline, and here is the gfs model, in pretty good agreement right now on the track moving south of bermuda. bermuda you still need to be prepared. this brings it northward toward the mid-atlantic. i'm not ruling out the northeast. coastal florida to maine, you need to have your plan in place in case this one comes close to you next week. back to you. stuart: we're glad we joined you, janice. thank you very much indeed. >> got it. stuart: social media stocks, look at them, down again this morning. emac, what is this all about. liz: so it is about liability. so joe manchin from west
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virginia faces an opioid crisis. social media there has been seen drug dealers putting up posts and ads for things like opioids. he is saying wait a second. you're exempt right now under federal law for liability for this content. we may remove that exemption. and so that would really slam, let me do it this way. actually this way. social media stocks. stuart: look at them. facebook at 160. twitter is barely at $30 a share. amazon not really connected to this particular story that you just raised, down another 20 bucks almost. back to 1938. amazon lost about what, 110, $120 share in a week? liz: that's right. nasdaq with the worst day in five months. tech is 26% of the s&p 500. we have got to watch tech this morning. stuart: you have the right point there, liability, liability, that's a big deal. we open this market friday morning in four 1/2 minutes time. we'll take you there for the
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♪ stuart: all right, 30 seconds to go we'll get this market off and running. this is going to be a big day especially for tesla. there is all kinds of news breaking on tesla.
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before the market, premarket quote, tesla was down over $20 per share. there is news on the stoke, i will bring it to you. [opening bell rings] watch the social networks, they are down again. facebook barely holding 160. there is a reason for that. we'll tell you. bang, 9:30 in the morning. we opened 54 points, 58 points. we're downside tune one quarter of 1%. down 7. down 85. will we get a triple-digit loss in the first few seconds? we're down 80 points. got it. most of the dow 30 are in the red. s&p same story, down about a third of 1%. now look at the nasdaq. that's the one to look at. big tech has been taking it on the chin and it is down more than the s&p, more than the dow. it is off a full half percentage point, 40 points lower. now, stock of the day, i think this is what it is going to be,
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the stock of the day, tesla. look at it, 6 1/2% down, $18 lower. 262 on tesla right now. we have a lot to go at. i need help. michael murphy. scott shellady, liz macdonald all of them with me and i'm starting with tesla. several items of news. number one, elon musk seen on camera, smoking marijuana, drinking his kirks live on the internet, appearing with the joe rogan experience. item two, two senior executives leaving the company, announced this morning. the stock is tumbling. mr. murphy, it don't look good for tesla, does it? >> it doesn't, and so many more things in this interview. one thing he said, elon musk mentioned running a car company in the united states in 2018 is stupid squared. makes no sense to be trying to do it. that is exactly what he does. so if you're an investor in tesla, you wake up this morning, you see the ceo smoking
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marijuana on the internet and saying it is stupid to be running a car company. then people leaving the company after very short stints, high level people, that's a bad, all adds up to negative for tesla. stuart: scott shellady, is there anything positive on tesla this morning or is it all negatives? >> no. the only place i would not want to be in the investor relations office of tesla this morning because i don't know how they will be able to stem the tide of this news, number one. number two, it was a couple days ago, three or four days ago, we heard about a formidable foe, mercedes-benz entering the fray. they will be able to bring something market that is very good as well to compete with tesla. number one, they're melting inside themselves and number two they have big outside pressure. it will not look good. stuart: by the way welcome back to america, scott. good to have you own home turf. we're all friends here. tesla, another negative, hit with a class-action lawsuit.
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liz: citron research, famous short seller research outfit. class act lawsuit, that elon muskness led markets and world i have secured funding tweet. it is nearly three dozen people left tesla over last two years, leaving rich stock option packages on the table. you have to wonder what is going on. stuart: class-action lawsuit is another negative. liz: that's correct. stuart: i want you to tell us the again the negative surfacing on these social networks. look at them, the stock of facebook is back to 160. twitter is at 30. google is down again, snap at 9.71. you brought us the negative of liability may be imposed to facebook. give me the story again. liz: yeah. joe manchin of west virginia, open boyed crisis in that state, he is saying, listen guys, you have a safe harbor underneath the federal communications decency act which says you're not liable for what your users post. they may be forced to be liable for drug dealers selling or
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posting theirwares on facebook. stuart: it is possible facebook could have liability with -- liz: user content, that's correct. stuart: 161 on facebook right now. scott, we've got all the social media stocks on the screen at the moment. facebook, twitter, alphabet, would you pie any of them? >> you can't, stuart, because we don't know how big this will be. i just don't like the social ones because there is such a big issue behind them. they will drag down other tech stocks just because but at the end of the day, the bottom line is this, they will run into some regulation, they will run into some policing because they just didn't do it themselves to start with. they did such a bad job of behaving. now they will have other people make them behave for them. that will be the big issue here. who knows where the pot is on that. stuart: when we opened the show i thought the big story would be the jobs report.
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it wasn't bad, 200,000 new jobs, and an unemployment rate, what is it now, 3.9% but we've been hijacked by tesla and the social networks. let me get back to the jobs report. murphy, what do you think of it? >> i think it is great. we talked a long time wages are not increasing. people's pay is the same as it was 10 years ago. now we're seeing wage increases. we're seeing a strong economy. people who own businesses need to pay more to their workers. this is a positive for the united states of america and its workers. stuart: scott shellady, the market turned south when that jobs report was released on the frowneds we'll get higher interest rates. what do you make of that? >> i think wage number what scared everybody on that one. looks as though the economy is doing well. i'll tell you what the left is going to say this morning though. they will go to the 2.9% wage gain, cpi, consumer price index is up 2.9%, that is a wash. not that big of a deal. two revisions took another
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50,000 jobs away. get that out of the way, this is a good report. let them have two little things. there are five or six other ones. great to see wages come back. we're still printing more jobs. look at unemployment rate. it will be good going forward i'm confident. stuart: 3.9% ain't bad for an unemployment rate. that is a fact. let's cover nike. look at their stock. this week the kaepernick controversy, that is in the back ground. president trump tweeted about it this morning, what was nike thinking? , what is the stock doing right now? what is the stock doing right now. what was nike thinking. >> up fractionally. stuart: the stock is flat, seven cents a share. will this hurt nike in long term? >> when it came out i thought this is it, a major impact for the company. when you watch the video, i think that is why the stock rebounded back above $80 a share. the video focus on handicap people, people of all races
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ethnicities. i don't agree with having kaepernick at all, i think it was a bold move. the commercial itself is not as bad headline. stuart: by the way no kneeling at the eagles game as i understand. check the big board. we're now down triple digits. exactly 100 points. we're at 25,896. individual stocks, look at them, higher profit, higher sales at the discounter, five below. that works with the stock up 13%. lower sales at the videogame retailer, that is gamestop. they're down 5%. verizon's internet boss, he is in talks about leaving. tim armstrong combined yahoo! and aol to try to give google and facebook a run for their money. he is talking about leaving. not much impact on the stock. down 19 cents. european regulators give the okay to apple taking over shazam
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what was the name, that was jim nabors thank you very much, shazam. you hear some music, you hold up your phone, shazam recognizes it. if apple buys them, all you have to do is click, you bought you song through apple. which shazam recognizes. do i have this right? >> you don't need to buy songs. they're pretty much out there for free. liz: you need to find songs. people love shazam. i heard a song, i want to know who sang it, who is the artist. you immediately have it on the library. stuart: almost met jim nabors, on the beach in hawaii. a good guy. the late jim nabors. apple's streaming business could bring, is that $37 billion in a few years? is that right? $37 billion, mike? , apple, late getting into the streaming game? who cares if you bring in
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37 billion. >> they're going to do it and they're going to do it right. this is the future. no one says they will replace netflix or spotify. but they will be a formidable person in this rate. liz: and tv. a big push in tv. stuart: are you an apple fan, scott shellady? >> no, you know what, stuart? i bought the samsung 9 plus, i'm a samsung guy. but i do like this idea. i think apple and their environment. this will be something that they can slowly build or maybe quickly build to help underscore what they might lose on the phone thing. it will not be the watch. is it will be tv, streaming, i think it is a good idea. stuart: i want to say welcome back to america again, even though you do own a samsung 9. good man. that time, everyone. i have to say good by to murph and scott. thanks for joining us. where are we? we've come back. look at this, literally seconds ago we were down 103. now we're down 71, coming back.
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or dental procedures and any kidney or liver problems. learn all you can... to help protect yourself from another dvt or pe. talk to your doctor about xarelto®. stuart: we have come back, down 103 moments ago. down 71 now. that's after what, 12 minutes worth of business. look at walmart. believe it or not they have ordered more tesla trucks. nicole, what's going on with that? >> so we'll push aside all the tough news we've seen for tesla. that's why the stock is down 9.8%. two departures. elon musk on comb median show
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smoking marijuana. they ordered five interest you cans, ordering 31 more. these trucks, stuart, are expected to be about 180,000 and tesla says over two years, you make your money back in fuel savings. this jumps on board. we already saw ups, pepsi, an lieser bush, dhl, they're all getting the orders in. this is perfect for walmart, one day trips for semis. 500-mile round-trip trucks. that is perfect for walmart rather than multiday trips or stopovers. stuart: tesla is dancing to a different drummer. >> terrible day. stuart: thanks, nicole. back to you later. >> >> let's get to trade. the mexico deal is done but talks with canada still ongoing. joining us for the first time from new york, gaston pierra.
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>> good morning, stuart. stuart: seems to me the new president of mexico is donald trump's best friend. are we getting along that well? >> it is amazing. i think so. this is the first new-ly elected president from all the other countries trump is dealing with. newly-elected. they're giving each other a chance. stuart: is donald trump, our president, is he a bit more popular with the people of mexico? two years ago, when he first announced for the presidency, he was anything but a good friend with mexico? >> i think that he is rebuilding that relationship. [laughter] stuart: you're a diplomat. does that mean you're still underwater? >> look it is encouraging. the fact that the nafta deal at least with mexico moved forward in harmony i think that's good. so people are taking a wait-and-see attitude. let's see -- stuart: it was a pretty good deal. mexico got something out of it. america got something out of it, and that is what you need for a
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good two-way deal. >> i agree. it was smart to separate the negotiations because issues with canada are totally different. you seen issues on the table, red lines mr. trudeau put forth. mexico out of the way, at least favorably. this is the relationship trying to do something with canada hopefully. stuart: can you get a nafta deal that does not include canada? >> look, yes. technically, you can, except that it is going to really postpone that agreement. remember mr. trump -- stuart: i have to go through congress? >> you have to go through congress. it's a trilateral agreement. getting canada out of this agreement will put a lot of barriers in congress i think. stuart: back to the talks with mexico. president trump was in a very strong position. our economy is booming. did he play hard ball with mexico? >> look, showed his cards, and, he drew a line, and the mexicans sort of, they got a few things
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in their favor. sunset clause is not there. the automotive sector, the 72% versus the 62 -- 75% versus -- stuart: that encourages more auto production in north america. that is good for mexico. >> it also encourages, those parts that are supplied, the chain to establish more presence in mexico. so that was good. so i think that the mexico got what they needed first. mexico needs, i mean for the tranquilty of the business sector, they need this agreement. stuart: when you go back to mexico, having appeared frequently on this program -- >> yes. stuart: do they give you a hard time? >> no. because look, i'm protrade. stuart: do they know that you're on this program? >> of course they know. and i know i'm pitching this protrade. i'm in favor of these relationships going forward. i think they need each other. mexico and u.s. need each other. i'm very grateful to be a part of this moment, you know? stuart: gaston, welcome back to new york.
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it is good to see you. i'm sure we will see you again soon. >> thank you, stuart. stuart: check the dow 30. it is not all bad news. there is a lot of ready see there. but i do see eight stocks up, 22 down. the dow is stablizing with a loss of about 70 points. then there is this. elon musk smoking pot, marijuana, weed, call it what you like, live on the joe rogan radio show. it's a website, actually. dr. marc siegel is coming up next. how unhealthy is musk's lifestyle as we speak? that's a good question. liz: yeah. stuart: he will answer. i promise you, he will answer.
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stuart: race for the cure, it happens this sunday in new york city's central park. who do you think is leading the fox business team? the lady right here, gerri willis. you are a survivor of breast cancer. >> stage 3, very aggressive breast cancer. took me by total surprise, when i got it. i had no idea. i had a ma'am gram six months earlier. bam, there i was stage 3. it was a big deal for me, a big transition. people at fox stood right behind me. your own liz macdonald stood behind me and sent gifts to my house.
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it was amazing. let me tell you, the fox audience was behind me. stuart: i remember that very well. progress report? >> doing well, doing well. number two, free and clear mammogram. i'm doing very well. i'm framing these reports in my office. liz: yea. stuart: sunday the big race, central park, how many people will turn out? >> 10,000 people come. now many of these are survivors. they also have people they call thrivers. these are people with metastatic breast cancer who are fighting, fighting. you're seeing pictures right now of the race last year. this is the team we had last year that went out. we'll have about 50, 60 people on the fox team. the good news, the company is matching donations this year. stuart: excellent. >> if you give any money it is times two as a fox employee. that is very good news. stuart: how much did you raise last year? >> we raised 19, no, $21,500. we're trying to double that i'm sure your donation will put us
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over the top. before i go, i want to site your audience to participate. if you don't live here in new york city, want to be with the fox team, help the fox team. go to comb man nyc.org forward slash fox. you can contribute right there -- komen miss nyc.org/fox. stuart: we think you're all right, gerri willis. tesla, stockholders -- liz: yeah. stuart: down 20 bucks. $260 a share, all kinds of negatives on tesla. it is worth less than general motors. liz: less than bmw too. stuart: look at this. this is one of the negatives facing tesla this morning. that is elon musk. he is smoking a mixture of marijuana and tobacco, he is picks up a glass of whiskey. doc siegel is with us.
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that looks kind of unhealthy to me. what say you, doctor? >> maybe it explains some of his erratic behavior. i don't like it. people in colorado are driving, drinking, smoking pot, increasing risk of fatal car accidents. musk already has issues. he says he sleeps six to seven hours a night. that's good. he says he has breakfast, that's good. he takes sleeping pills, reportedly, drinking, having pot, is bad combination. it interferes with cognition, ability to make decisions. maybe that is why tesla is going down the drain. stuart: there is a question whether a man like musk should be the remain the ceo of a major car company. i will will not answer that question. >> good question. maybe good idea. but follow-through, my son was loving that free for a while but not now. stuart: enough with musk. what's with all the sick people, getting on planes, coming to america. you you have to put them in quarantine on the tarmac in either d.c. or new york?
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we had two examples. what is going on? >> a big emirates flight on wednesday came into jfk with 19 people sick. 10 had to go to the hospital. american airlines came into philly, same problem. the cdc tracked down, they're great at tracing. they figured out ones came into jfk had the flu. simply the flu. started to be flu season. middle east is getting it before we get it here. these are from saudi arabia. that explains it. one thing i want viewers to know before they think science fiction here, in science fiction, you're on a plane, you're healthy, by the time you get off, you're sick going to the hospital. in reality, stuart, takes a few days before you actually get sick the you encounter the flu. it was probably encountered in saudi arabia. they got sick on the plane. not they caught it on the plane. stuart: coincidence or what? everyone gets sick on the plane? did they show signs of sickness before they got on the plane? >> that's what i think. i want to use this moment to
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make a public service announcement. stuart: go right ahead. >> planes are ridiculous. people sit close together. they cough on each other. the surfaces are not clean enough. you go to the bathroom, the water has bacteria in it. the filters are great. but the person sitting next to you can get you sick. liz: what do you do? stuart: what are you supposed to do? >> well the japanese wear masks on planes. stuart: are you suggesting that americans go on with masks on board planes? are you? >> they're not going to do it. stuart: they're not. >> but they should wash their hands before they get on. drink plenty of water. don't cough on the person next to you. liz: [coughing] stuart: stop it. >> don't drink alcohol on train. musk, don't go on a plane and have pot. stuart: doc, i have to go. next, larry kudlow, national economic director joins us from washington. jobs trade, social media, we're asking about it all. more "varney" after this.
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stuart: it is 10:00 on the east coast and 7:00 on the west coast here we are. markets down but not boy that much. the jobs report came in pretty strong, in fact we saw the strongest wage growth since june of 2009 maybe the market thinks that interest rates will go up. maybe that's one of the reasons why the market is down. moments from now we will be talking to larry kudlow chief economic guy with the president. i want to know when we're going to get a deal with canada, trade deal that is and if he thinks social media companies should be regulated. he might move the market, but that's not the only reason we might move the markets on the show today speaking to the president of the federal reserve bank of dallas, yes believe it or not, ladies and gentlemen the fed will appear on this programmed to. mark your calendar. history will be made. elizabeth warren says it's time to invoke the 25th amendment to remove president trump from office we'll talk to the man running against her in
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massachusetts. and you could say he's at it again he now says that brett kavanaugh will kill the constitution. his words. all of that, coming your way this is hour two of varney & company. stuart: we're down, but not that much. 69-70 points lower at 25, 925 down about a quarter of 1% not much of a decline. now look at tesla. its stock on track for its worst day since june of two years ago 2016 we've got reports that its chief people officer is leaving the company permanently. we also heard this morning that the chief accounting officer, he's leaving after only one month on the job. tesla's down $20 at 2.60.
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verizon's internet boss is in talks to leave. tim armstrong is his name he was the guy who combined yahoo and a ol, trying to give google and facebook a run for their money verizon stock is down just a fraction this morning. big tech names you've got to check them because their performance has been all over recently. apple has a new price target from piper jaffray of $250 a share that's enough to put it just a little high this morning buffets book now coming in at $164 a share, it's up a little, amazon was down 10, now it's up just a tiny fraction, and microsoft still on the downside, but still at $108 a share. don't forget the price of oil not that it's making a difference at stocks this morning $67 a barrel. now look at the president's tweet about nike's new ad, which features colin kaepernick. trump tweets short, sharp to the point, what was nike thinking? well, nike did air the "just do
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it" ad for the first time during the nfl season opener last night guess whose here to comment? tammy bruce, fox news contributor. there is some rethinking of this , this morning. we originally thought well make made a rot epidemic decision to reopen the anthem protest surely the stock will go down and it did. now we're hearing maybe it was a good decision maybe they're going to just the right demographic who wants these kind of ad. that was the thinking wasn't it people thought and it would be true they actually sat down and considered the pros and the cons one argument was that young people want brands to become involved in social issues, but then that's why you're the adult right, running a company is that maybe young people shouldn't be making that decision. what we can tell you is this. morning call is reporting that nike's favorability dropped across-the-board including across their key demographics. white, blacks, boomer, generation x, gen x, republicans , nike customers and
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all adults down, every single demographic down. 25% say that it'll in fact make them even consider less likely to watch an nfl game because of the commercial. stuart: really? >> this is a remarkable result. now if you're i suppose looking at new york and la you're looking at your demographics may like it but the fact is they are key demographics african americans people of color all throughout the country with different kinds of lives and considerations. the majority of whom love the national anthem. they serve in the nation's military. they are police officers. they understand what keeps their lives safe and this is not just about the anthem. it's about the pig police socks that he wore and all of that, so when you're looking at this result, the favorability across-the-board, double-digits down. stuart: down? >> perhaps they're looking at an impact they did not expect. stuart: that's nine's favorability rating. >> and also purchasing
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consideration down 10%. 10% so we're going to see long term repercussions of this, masters of the universe maybe shouldn't have been looking at polls and should have been thinking about the character of the american people. stuart: okay, point taken. i've got to ask you about delaware's democrat senator, he did beat his progressive challenger in the senate primary race there, but kerry harris got about one-third of the democrat vote there still quite a lot. he beat her back. it reminds us these races whether it was canfor or cortez here, these races are local, a lot of existing incumbents republicans and democrats take their constituents for granted and presume everything is going to be fine they don't need to knock on doors. people want to hear from candidates. if you go to a door and you knock-on it you talk to people but it's also up to like with the republicans here in new york and many districts as an example don't even bother to go to a district.
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democrat incumbents don't bother if you've been like crowley was here for like 20 years you think everything was set. hillary took things for granted. americans care they want to hear from people but it's going to be up to republicans in the mid-terms to make sure americans know the difference. what socialism is, what matters for a district. stuart: it's up to the republicans to get out and say look at the economy. yes. stuart: just this morning we've got a booming economy and a super low unemployment rate. but is that message getting through the media? >> well look a lot of these republican candidates probably watch fox news and if you're an informed people you watch this network, right? fox business, but not, people are living their lives they're working their jobs raising their families, and they might not know all of the details. they start looking more closely as elections get closer but the fact is, be engaged. you must be on the ground. the president's doing what he can do but you've got to go to your constituents don't presume because you've been in there for
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a decade people will know you. in fact people want change. we've seen with donald trump change has brought good things, but that's not every change. it's the conservative ideal and the trump approach and that's what candidates need to be aware of. stuart: while we've got you on the set did you see paul krugman 's article in the new york times today? >> i did. stuart: before we get into that i want to tell the audience what he's been saying so let me make a last minute appeal to republican senators who care about america's future if there are any left there. sarcasm. don't do this, a vote for kavanaugh will be a vote to destroy the legitimaticy one of the last federal institutions standing and the headline of his piece was kavanaugh kills the constitution. have at it. >> yes, he had a really good track record of being wrong, and he's wrong here. he's the one who also, i guess, remember he predicted would be a stock market crash. stuart: a global recession and we would never recover. >> never recover so he's
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consistent and he's wrong here as well. it's more theatrics to some degree of course almost a mass histeria, but at least you know who not to listen to and take seriously and mr. krugman is one of those people. stuart: a headline like that, kavanaugh will kill the constitution. >> just extraordinary. and also saying you're going to kill me, personally, if you vote for krugman. there's so many serious issues we can discuss that really do have an impact that is supreme court justice could influence. the democrats have just really gone off the edge here. stuart: i think you used the word theatrics a moment ago. well from senator corey booker at the kavanaugh hearing yesterday, roll that tape. >> if senator cornan believes i violated senate rules, i openly invite and accept the consequences of my team releasing that e-mail right now. >> this is about the closest i'll ever have in my life to a
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moment. stuart: oh, the spartacus moment well the man said he was going t release these documents which were secret. they weren't secret they've been released before. >> yes, exactly and look you never call yourself spartacus. other people call you that. you don't do it. maybe he should host the oscars next year in february. stuart: [laughter] >> that was a performance. it was insulting and frankly, republicans should have called him out at the time saying wait but those have already been approved to be cleared, but that's what we've all learned now, and this is what the democrats offer. they offer theatre, they offer dog and pony shows and bread and circuses. americans deserve better we're finding out that we can get better but that's classic what the democrats offer. stuart: i sense you enjoyed yourself this morning and really got into it. >> yeah, at least there's enough coverage where the american people know whose
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trying to gaslight them. mr. booker is one. stuart: got it tammy you're all right thanks for joining us. >> thanks with the news these days. stuart: moments from now we'll talk to larry kudlow, national economic counsel director making his way to our camera as we speak. we're going to talk jobs, growth , trade, you name it we're on it and he's next. >> ♪ ♪
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stuart: well, a half hour ago we were down 100 and now as of 10: 13 eastern we're down 26 points couple of individual stocks which are moving first of all, the video game retailer, retailer by the way, that's game stop, lower sales there and down
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26.23 about 1.5% better profit and better sales at the discount er, five below that's looking good on the stock up 16% very nice gain there. now, this is a big deal, just coming at us right now. a new report that says political donations made by alphabet that's google, their staff have gone almost entirely to democrat s, and give me some numbers. liz: 15.5 million to democrats and their causes since 2004 versus 1.6 million to republicans a stark picture that we need to that's a takeaway in the election year 2016 google workers gave nearly 6 million to democrats versus 403,000 to republicans. stuart: oh, wow. liz: so more than 90% of the donations went to democrats and their causes. stuart: that seems to to me to be an overwhelming example of bias doesn't it? also during the obama years google was very very close at the white house managing many many different projects, so you see an actual involvement in
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government under one particular administration and this could also explain you heard a couple days ago the department of justice of course under attorney general jeff sessions and the date is september 25 where he's going to sit down with a number of state attorney general to discuss whether or not google is involved in anti-trust framework s and stifeling of free speech obviously the first amendment doesn't apply to google but there's a discussion about the nature of their re-election and whether or not their activities are fair and a way this could be the department of justice beginning to be involved in efforts to regulate in 2016 the european union began to look at them regarding anti-trust and the enter fierce with commission. stuart: now i can say thank you very much, tammy. liz: quickly to tammy's point eric schmidt was obama's chief corporate allie. he built a voter targeting database for the obama white house to use in the election. >> very very very closely involved. stuart: yes he did he was that's right.
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listen to what massachusetts senator elizabeth warren said in response to that anonymous op-ed in the new york times which was supposedly from a senior administration official. roll tape. >> if the senior administration official think that the president of the united states is not able to do his job, then they should invoke the 25th amendment. stuart: all right, joining us now, the republican from massachusetts and he is seattle warren's opponent for the senate seat there. okay, invoke the 25th amendment what do you say to that, sir? >> well first of all stuart thank you for having me. let's just talk about elizabeth warren for a second she wants to eliminate i.c.e., nationalize businesses, raise individual taxes between 50% up to 90% we don't even know and now she wants to create chaos and government by invoking the 25th amendment. there is nothing elizabeth warren won't say to raise her profile to be the progressive radical nominee for the
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presidency in 2020. stuart: but she's way out front of you in the race. >> well look we just had our primary this last tuesday, so i'm just being sort of rolled out as the nominee but we've been working for a year now. we have internal polls showing we're leading over her with independents that's where this race is really at. stuart: are you a flat-out trump supporter because if you are, this is obviously a pitted battle between trump and the far left elizabeth warren is it that stark an extreme? >> well first of all i was the only republican in the state to support the president i was his co-chairman for the state 20,000 democrats unenrolled in massachusetts to vote in the primary election that gave trump his largest margin of victory in the primaries until he hit his home state of new york so he's got support in the state but beyond that, massachusetts is a state that is tired of being overlooked by people who get elected and then want to run for the white house. they want someone whose going to deliver for them. i've actually cut taxes by $2 billion when we repealed and
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indexed gas tax in 2014 and so when i am on the campaign trail people know i'm going to work for the next six years as their u.s. senator unlike elizabeth warren. stuart: i spend a lot of time on cape cod, massachusetts and i've noticed that this summer was very very good for businesses on cape cod one of the best years in many years, actually. surely, that's going to be your main push isn't it? that the economy is doing very well because of tax cuts and deregulation? >> right elizabeth warren vowed to repeal the tax reform that's given massachusetts 3.5% unemployment really leading the country we have $1.2 billion in new revenue for the state government because of un anticipated revenue from the tax reform that's given job growth, wage growth we just saw today, national news 3% wage growth basically. we are enjoying that in massachusetts. elizabeth warren wants to undo all of that. stuart: jeff look thanks very
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much for joining us, sir. we hope to see you again before the election and it will be a welcome back at that point. republican from massachusetts. thank you, sir. stuart: let's get at it the man of the hour larry kudlow joins us from the white house. larry? before we get to the jobs report , did you write that anonymous op-ed in the new york times? >> i sure didn't. why would i? i spent the better part of the last two-plus years helping president trump develop the very policies that he's been on taxes and regulation and trade reform. stuart: larry harry reed it harry reed it. you took my question seriously. come on, you know me. somebody, i do know you. i saw one magazine finger me, among a couple others that should have known better and i've seen a couple of ankle biters. i mean for god sakes.
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and here is the great part of this story. so guess what? the policies are working, okay? there is an economic boom, today 's jobs report continues it , almost nobody believed possibilities covering wages, it's covering investment, it's covering taxes and inflation and manufacturing. we're not peaking yet. stuart: wait a second. >> why would i want to pose that? stuart: aren't you a little disappointed with 201,000 new jobs? let me explain myself. before the election, before we got these tax cuts in place, we were thinking we're going to get 4 and 5% growth and we've got 4% growth. we also thought i was pretty confident there would be months where you would see 300 maybe 400,000 new jobs. we're not even close. isn't you a little disappointed?
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>> no. give it time, this thing is building. it's building. today's figure, what plus 201, all these crazy summer seasonals , some people were worried that you might have a decline. no, what you're doing here is you're creating jobs steadily at a very high level and i'm not convinced we've peaked on that, but the overall story, let's go back to tuesday, thursday, the i sm's there's no better realtime indicator. manufacturing boom, services boomed in today's report, wages picking up steam, my pal has shown by the way if you calculate them right, real after-tax wages are moving into boom territory. we're clicking on all cylinders, so i'm perfectly happy with what i'm seeing and almost every aspect. stuart: are we going to get a
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trade deal with canada maybe today? >> you know, stu, i'll give you a maybe. i know they're working hard. i can't predict. i think they're probably working as you and i are talking. ambassador lighthizer we met yesterday with the president and so forth we're all working hard and i think the united states would rather have a trade deal with canada but it has to be a good deal, right? and the word that continues to block the deal is milk. okay? i'm just saying let go. milk, dairy, drop the barriers give our farmers a break and we can fix some other things so i want to predict i'll just say bob lighthizer is doing a great job and the president is encouraging it. stuart: tell me about china the two issues there which we don't really talk much about and that is the theft of intellectual property and the forced takeover
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of our technology. you don't hear much about it. is there any movement under the surface, under-the-radar here, that you know about, on those two issues, because i really want to know if china put anything forward, anything to suggest that might accommodate our desire to fix those two issues. >> stu, i don't think they have i don't think they have specifically. you're 100% right. look we talk about this treasury secretary mnuchin is our team leader on this, bob lighthizer is our lead negotiator live been deeply involved in these talks. they, the chinese, know exactly what our asks are and you're right. theft of ip, forced transfer of technology, ownership, stu. ownership okay? they keep saying they are going to let american companies own 51 or 53 it doesn't happen by the way we should own 100% so we don't have to be ordered to lay our blue prints on the table so
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they can steal our technology. high tariffs, non-tariff barriers with respect to various commodities, industrial goods and so forth. we're out there. they know exactly what we want, stu. you remember mrs. reagan? remember you and i, we're so old we remember this. stuart: [laughter] >> when i was here the last time, i come around every 35 years, mrs. reagan, to drugs, said "just say no" and she was absolutely right. my advice to my chinese friends and some have become friends, just say yes. stuart: [laughter] >> something. something. stuart: good luck with that. so we can move forward. stuart: real fast, social media stocks, down this week. down big actually. i think investors expect regulation to be coming from congress. do you think social media, like facebook and google and twitter, do you think they should be in
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some form regulated? social media. >> well i don't want to go that far. we talked about this a week or two back. a lot of people use the word, i never said the word "regulation ." i never said it. i do think they have a lot to be accountable for with respect to withholding conservative searches and conservative tweets i think they have a lot to be accounted for. all i'll say is what i said. we are looking at it national economic counsel we are engaged in a study at the request of the president to try to look at the facts and the science and technology. we have no idea where we're going. regulation, we don't nowhere we're going we're just trying to gather information, but let me just say this, i'm not an expert but i've sure spent a lot of time reading up. those big outfits have a lot to be accountable for. there's so many anecdotes about
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withholding conservative whether it's a search engine or a news engine or just a twitter. so many unexplained seems pretty fishy to me so we're looking at that part of the story, stu. i don't want to get ahead of it. stuart: larry a great pleasure to have you back on the show because you're clearly in fine form again you really are. you rate, baby. >> it's a boom, stuart keep the boom. yes, sir. stuart: i've got it see you later larry kudlow, everyone. >> thank you. stuart: by the way coming up bret baier has been watching the kavanaugh hearings all week. he's with us in our next hour. i want his opinion on the theatrics that we've seen on those hearings. first, we're going to speak to the president of the federal reserve bank of dallas, yes, the federal reserve makes an appearance on varney & company. historic day, ladies and gentlemen. this interview could move the market.
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♪ stuart: who played the beatles? getting better all the time. can say that about the show. not so sure about the market. we were down 100. then we were down 20. now we're down about 50 points. how about the big tech names? you got to check them. a mixed bag there too, mostly higher. facebook, amazon, all right around break even actually. facebook back to 164. that is important. that is a mover right there. as of 10:30 eastern time i am sending it over to our own he had warted law -- edward law earnings sir. it is yours. reporter: thank you, stuart. joining us special guest, dollars federal reserve president robert kaplan. he is co-hosting a conference. energy and the economy, charting the course ahead.
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before we get to the energy sector i want to ask you impression of the job numbers came out. 200,000 jobs created in august, better than expectations. how does this change your view of the economy? >> it is probably consistent with my view of the economy. it is a very strong report. it is reflective of a strong economy in 2018, a tight job market and the number i like to look at in particular is referred to in the lingo as u6, which is unemployed, plus discouraged workers, plus people working part time, would like to work full time. that is 7.4%. high every than the unemployment rate but it's well past its prerecession low. it suggests to me we have a strong economy, a tight labor market. >> number ticked down .1 from month to month. look at the average hourly wages they have gone up 2.9% year over year. >> yeah. >> does that cause inflationary
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concerns for you? >> we've been expecting, i've been expecting several months now that you would see the wage number firming and it is consistent with a tight labor market. i still believe that a lot of the big structural drivers in the world, automation, globalization, will mute overall inflation pressures but i actually think the wage growth number is welcome and it is probably consistent with our outlook for the economy and what it has been the last few months. >> so does this change, there is an fomc meeting coming up in september. does this change what you believe should happen in terms of rate hikes? the market already priced one in this time around. do you think that should continue? what about december? >> yeah. i've been saying that i believe in light of economic performance, we ought to be moving toward neutral. rate at which we're near stimulative or restrictive at the fed.
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because we're, we're at or near full employment or past it. we're meeting our 2% inflation goal. and neutral rate is a theoretical term but it ranges, in our judgment at the dallas fed around the ban of 2 1/2, 2 and 3/4. that tells me over next nine 1/2 months, we ought to raise the fed funds rate three or four times, to get to that neutral rate of 2 1/2, to 2 and 3/4. everything in the jobs report causes me to reaffirm that view. >> because of the trade headwinds possibly, what the fed is watching there, do you think there should be a pause in that 2 to 3 you're talking about rate hikes? >> no. i, listen, i think, if you just stopped here, the trade tensions, while they have affect ad number of different industries, i can tell you
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first-hand talking to ceo's, having some chilling effect on capital expenditure plans, i think it is not yet having a material effect on economic growth overall even though it affects certain industries. i do think it may be a factor affecting emerging market instability. so i'm watching that carefully but, but i, i think trade tensions at this point are just something i'm watching carefully. at this point i don't think it should change our plans at the fed. >> are you seeing companies take a wait-and-see? 50 fortune 500 companies in your district. are you seeing them take a wait-and-see attitude on capital improvements investments? >> listen, the tax legislation, the tax reform, caused companies i think to accelerate cap-ex they might have done a year or two from now to do it today because of the tax incentives. you're seeing additional cap-ex in the energy business because
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of production growth, high prices but i do think companies are telling me, yes, they are taking a wait and see approach because of the uncertainty around trade. so it is having a little bit of a chilling effect and, and, so, that is something just to be aware of, take note of. >> just quickly in the last 30 seconds, does that push the effect of the stimulus off when these companies do finally release that capital investments, when they feel secure the trade disputes have been settled? >> well, i think you will get more, maybe more bang for the buck from the fiscal stimulus if companies companies didn't have this uncertainty, it is my view and our view at the dallas fed, we're at the high of the fiscal impact. that will fade some in 19 and will fade further in '20. you have headwinds and sluggish labor force growth because of demographics aging and sluggish
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productivity. those will start to kick in more as the fiscal stimulus fades. that is something i'm watching very closely. >> robert kaplan, i appreciate it. if you want to continue with "varney & company," watch it right here and two screen us. fire up your computer. watch us over we continue the conversation on foxbusiness.com. stu, back to you. stuart: continue away. good stuff, ed lawrence. good stuff, mr. kaplan. we appreciate it. the nfl kicked off the season, the eagles beat the falcons, however the tv ratings were down. how much, liz. liz: 8%. hitting a 10-year low. this was a rain delayed game. ended after midnight. it is one of the lowest kickoff games in the history of the nfl, 20.1 million ballpark viewer figure. that is the rough estimate right now. stuart: sounds to me, tammy, like continuation of last year's decline in the ratings. the nike ad featuring kaepernick didn't feature much of a
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downturn? >> there is obviously staying power and real decision-making process, for this to be down so much again now. after a break in time, but the indication, not only did the commercial not bring people in. it may have even reinforced and reminded people of the problem which is what you didn't necessarily want. stuart: nike revisited the controversy. >> yeah. stuart: they stoked it up all over again by doing that. liz: if you don't buy sneakers over politics. it is over athleticism. it was a love i commercial about physically-challenged athletes which is beautiful. they're in a pitted battle with adidas in this country. >> chance for adidas, isn't it, coming up? stuart: ratings down 8%. several million fewer viewers. told you. now this, elon musk smoking marijuana, drinking whiskey, in a wild interview last night. we've been wondering whether someone needs to help him run the company or should he step aside? next hour we'll talk to someone
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who worked closely with steve jobs. wonder if she sees the same par littles with musk? first though, a new report says self-driving technology could cost the trucking industry hundreds of thousands of jobs. the truckers say, they're not worried. the head of the american trucking association makes his case next. ♪ making my dreams a reality
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♪ >> national economic council director larry kudlow, he joined us earlier. listen to what he had to say about today's jobs report. >> today's figure, what, plus 201? there is all these crazy summer season ales. some people were worried you might have a decline. no. what you're doing here, you're creating jobs, steadily at a very high level. and i'm not convinced we've peaked on that but the overall story, let's go back to, let's go back to tuesday, thursday, the isms. there is no better real time indicator. manufacturing boom. services boom. in today's report, wages picking up steam. ♪
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♪ stuart: fairly slow trading. we're down about what, 50 points. been that way for much of the last half hour. we were down 100. now we're down 50. 25,900 is where we are. i have a number for you. look at it. 294,000, that would be trucking jobs at risk, threatened by self-driving technology.
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that is according to new research we just received. our next guest is pushing back against that claim. chris spears, american trucking association ceo. you don't believe it? we will not lose all these trucking jobs? not going to happen? >> not going to happen, stuart. this is about driver assist, not driverless. we looked at studies written by people that understand the industry. the american center for mobility has studies to show this technology will uss ace drivers, not displace them. we think this is more about driver assist not driverless. stuart: that is interesting. most people don't understand what driver assist is. when i think of driverless trucks i think of no driver. you're telling me that is the not case. explain driver assist, explain. >> connectivity is key. 2/3 of the accidents caused commercial vehicles are passenger vehicles, speeding,
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texting, not paying attention. hitting the back of our trucks. connectivity could be a real solution for enabling to lower the 40,000 highway fatalities we endure every year tragically. we have a solution through technology. we look at it as an enabler, but not a displacement of drivers. they will be here just like pilots in planes, we'll have drivers in trucks. stuart: this idea of driverless trucks, i know it is supposed to be coming, surely it is decade away, or is it? is it decades away? >> i think it is decades away. commercial vehicles are 4% of the volume on the highway. driver error is really caused by passenger vehicles, lion's share of the vehicles on the highways. you will have to remove human error from all passenger vehicles first before you pull drivers out of 80,000-pound vehicles. that is just the reality. we look at a lot of possibilities where there are gains, lowering fuel burn, lowering emissions.
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lowering congestion where we, stuart, lose $63.3 billion a year sitting in traffic. that is 636,000 drivers sitting idle for a year. connection activity and technology could alleviate that. that could be a very good thing. we believe this is a about driver assist, not driverless. stuart: chris, i know you have seen the same reports that we have seen, there is a trucker shortage, a shortage of truck drivers. i think it is because it is hard to find people who have a clean license. drinking and smoking dope and all the rest of it. am i right? >> you are right. it is putting a lot more demand. the economy is great but also brings to the surface issues we've known about quite some time which is driver shortage and technician shortage for that matter. we need to look beyond the hood, 5, 10, 15 years out how we attract talent. we need to look at 18 or 21-year-olds. i don't know if you knew it, 48 states out of 50 allow them to
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driver a class a. they can't cross state lines f we can train military people to fight our wars at age 18 i'm sure we can teach them to cross state lines. stuart: what do you do with recreational marijuana legal in several states? what do you do about that? can you hire a driver who has any history of using marijuana, whether you feel them safe or not? if they have an accident, you have got liability. >> you do and it is illegal. it is also compounded by the opioid crisis beyond marijuana. but it's a big problem. so we're looking to solutions like hair testing, things that can read and screen folks habitual use, know that they are users and they could be users once they get behind the wheel. we want to avoid hiring people like that. it does put more strain on the workforce hiring ability. it is something that we have to look at. another headwind, but, we want to be safe out there. that is our biggest priority. stuart: you have a booming economy. that's a fact. chris spears, thanks for joining
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us. >> thank you, stuart. stuart: sure. turns out there will not, remeet, not be a popular movie category at the oscars, the popular movie category, not happening? liz: not happening and they delayed it. they couldn't define what they meant by the popular movie category. hey, let's have a category for blockbuster films like marvel or dc comics or like the "black panther" film. ratings fell to an historic low last year. actually hitting lows not seen since 2018. maybe the popular oscar category would have lifted those ratings because viewers would have seen movies, that you know, people turned out for. not happening. stuart: sick and tired of having an anti-trump gab fest at the oscar. show some decent movies. liz: that is the problem. you don't want politics on sunday night. it is not entertaining. stuart: get away from me. not you. liz: you by will. i'm kidding. stuart: check this out
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philadelphia eagles kicked off the football season. tradition the super pole winning team plays in the first game. they beat the new england patriots, i'm sure everyone is aware. the patriots fans reminded of the loss, the dunkin' donuts sent cups with eagles logo. angry fans took to social media. dunkin' promises to replace those cups you see on your screen. this is "varney & company." we're coming right back. ♪ you're still here? we're voya! we stay with you to and through retirement. i get that voya is with me through retirement, i'm just surprised it means in my kitchen. so, that means no breakfast? voya. helping you to and through retirement.
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stuart: well, look at cbs stock. i've got news on it. charlie gasparino, fbn's guy, reporting a deal is being negotiated between the cbs board and shari redstone. that deal would prevent redstone from merging cbs with viacom for two years. the stock is moving on that news, up nearly 5%. switching gears, why don't we? the eagles beat the falcons in the nfl season opener last night. look at this, a new study finds that legal sports gambling could be a huge moneymaker for the
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nfl. according to nielsen, the nfl's annual revenues could increase by, look at that, $2.3 billion a year due to legalized sports betting. jimmy vacccaro with us, south point casino sports book director in las vegas. jimmy, how much in bets were placed on last night's game at your casino? >> we did about a million dollars, stuart, that is pretty high for an actual opening thursday night game but people everywhere, i heard viewership was down but the betting is through the roof. they can't get enough of the nfl. they can't get enough of stock betting. we had a huge day. one gentleman bet $100,000 on the falcons. this is a new trend. they're coming up with money every day and lots of it. stuart: okay. now, i want to talk about this one, you're saying jimmy, that 3 to 5 years away, sports gambling will be legal in 15 states. i think that is what you're
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saying. 15 states. only 15? i can't believe that? it is a huge moneymaker for any state that allows us yet in three to five years you have only 15 doing it? explain it. >> i think 15 is a pretty good number, stuart, only because there is a lot of things that have to go through with licensing and everything. a lot more easier for places to open up, especially back east, with hotels here and have brick-and-mortar places back east. that makes it easier for the mgm to open up earlier because they have casinos out here. it will be a little slower than people anticipate. remember, 15 states will still make 20 times the amount of money we take here in nevada. and when the phone app becomes legal also, it goes through the roof even more, stuart. huge jump, next three to five years. stuart: what i don't understand, is why, so much more bet on football or any other sport in
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these 15 states than is bet in las vegas? i thought you were king of the hill? >> we're king of the hill but remember we're only three million people in the whole state of nevada. naturally on the weekend the california people are driving in there, it surely moves number also very well, very quickly up. but, california, is a long way away. texas is a long way away. and remember, no pennsylvania, no ohio, no new york yet. once that kicks in, then it is a new ballgame, my friend. stuart: i think you're talking about a new ballgame for the way we watch sports. i can see, i said this many times. sit at a bar. there is the football game on tv. you have your laptop. gambling away as you're watching the game, having a drink or two. that is a revolution, jimmy. stuart: >> no doubt about it, my friend. last 29 seconds millions of dollars changed hands back and forth. go to the movie, see the same ending after you see a movie one. you go to a football game, there could be 20 different endings.
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that is the entertainment we have betting on sports. stuart: jimmy thanks for joining us, sir, appreciate it. good stuff. all right. wait for it. liz: wait for it. stuart: i can admit it. >> what? stuart: maybe i shouldn't have said no republican will win a statewide office in california in my life time. i shouldn't have said it. i did say it but i shouldn't have said it. new polls show the republican candidate for governor, john cox, closing in on democrat gavin newsom. my take on that is coming up. ♪ mgx minerals' disruptive technology can extract lithium -
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used for batteries from expired oil wells. mgx's new pilot plant aims to produce lithium-carbonate one hundred times faster than from conventional lithium brine. mgx minerals stuart: in my lifetime no republican will win statewide office in california. yes, i did say that. i said it many times. maybe i should take it back? maybe i should think again.
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two months from now california chooses a new governor and here's the news. the democrat, gavin newsom, now has only a very slim lead over republican john cox, only five points ahead. look for a democrat in california, that's real bad. what is going on? voters are wising up. that is what is going on. newsom's support really took a dive the moment he said he would give free medical care to all illegals in the state. that is about 800,000 people. not only is that financial lunacy, who is going to pay, it is also an invitation to come on into our sanctuary state and enjoy all the free stuff, courtesy of long-suffering taxpayers. money is at the heart of the democrats weakness. they raise the gas tax so california drivers now pay 77 cents a gallon more than the rest of the country. they keep raising taxes. california is now the most-taxed
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state. and it is almost the worst for taxes business as well. now the democrats insist all green energy by 2045, wildly expensive. pay for grand government schemes is the democrats problem all across the country, not just california. socialist, cynthia nixon is running for governor in new york state. her program would double spending in the first year her program took effect. taxpayers would be on the hook. in florida, democrat andrew gillum is running for governor. he wants free college, and medicare for all. who pays? that is the achilleses heel for the left, paying for it all. let me formally change my tune. i will no longer say a republican can't win statewide office in california in my lifetime and i realize i'm on dangerous ground here, my lifetime. in the few years i may have left, it is now likely, in my
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opinion, likely, that a republican will win in california. it could be a republican john cox this november. who knows, could be donald trump in 2020. california has 55 electoral college votes. think what a republican win would do to our presidential calculations. the third hour of "varney & company" is about to begin. ♪ stuart: get at it, shall we. jonathan hoenig is with us. capitalist pig hedge fund manager, a favorite name. i want to focus on money aspect of politics. you heard me, i think money is the achilles' heel, the huge weakness of democrats. will you take me on? >> i disagree with you, stuart respectfully. where will they get the money to pay for it, you know the answer for that, the rich. there are plenty of rich people in california.
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if california was a country, has a bigger economy than almost any country in the world except maybe the uk and germany. this is massive source of wealth. all the major growth engines of the economy are in california. they're in silicon valley. those are the wealthy individuals from which whoever the liberal governor has always gotten the money for. it will stop when those rich folks start to get up and shrug. they move to florida, they move to texas. there has been some of that already. you ask where do the democrats get money? they get it from where they always get it, from those of us who actually produce it. stuart: we should fores them to admit, you don't get it from the rich and 1%. for all that money, you have to come right down to middle america and tax them to the hilt as well. when that message gets through, i don't think people vote for him. >> but, stuart, again i'm just taking the opposite side. a lot of democrats you cited, they say yes, you will pay a little more taxes but you will get free health care, you will get free insurance, you get free
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medical. the socialists, the reason the left is winning, they make a pretty good case. you pay more supposedly in taxes but you get more as well. if the right really wants to oppose it, the right and rich, saying why should i pay for your health care, your employment, your hospitalization, anything else like that? i think that is when the trend really starts to change towards the freedom side, rather than the socialist side. stuart: i'm with you on that one. jonathan, you don't like big tech. i read your stuff. i know you don't like it. are you telling me that i should now sell my microsoft? >> i think you have to be concerned here. i mean look, it hasn't been the steel stocks, stuart. it hasn't been autos that have been leading the economy forward. it has been the california companies. netflix, netflix, basically put them all together the "fang" stocks. this is where the action is. this isn't a political opinion, stuart. you're just seeing a lot of these leaders get shocked. tesla down dramatically last couple days, facebook, twitter,
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getting killed. if you own the market, other than the tech markets in particular, if you own the market you do, you have to be very cautious what we've seen last few days. stuart: you dodged on microsoft. you didn't want to offend me. jonathan, as you know, nike made colin kaepernick the face of their new ad campaign. again i read your stuff. you think nike's move was brilliant, make your case. >> everyone, we're talking about it. everyone is talking about it. they're not in the shoe business, stuart. they're in the controversy business. they're in the brand-building business. nike already, whatever they spent on these ads they made back 100 fold. and with respect again, stuart, i don't think you're the audience. i will throw that out there. might not be you. might be someone else, a young person, who perhaps, former years would have idolized james dean, would have idolized jack kerouac. this is the rebellious spirit nike is trying to capture, capturing quite well. it is adding to the bottom line.
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stuart: that was really nasty dig at my age, jonathan. i'm surprised at you. >> you were the one who said in minutes ago, remaining years i have left. i hope there is not something you want to tell us, stuart? stuart: i'm got nothing to tell you. i'm hopeful after long existence. >> many, many more. stuart: thank you, jonathan. >> thank you. stuart: andy cunningham, the author of, get to you a haw. andy you heard jonathan hoenig there. you're an experted on apple and steve jobs. you heard hoenig saying nike's move was brilliant. what do you say? >> i'm not so sure. nike has a built on own proposition great sporting clothes for athletes. they have a tribe. with this campaign they are reaching out to a new tribe. they may alienate existing tribe they have. it is great for publicity but
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publicity only lasts so long. stuart: got it. you were the publicist for steve jobs, if i'm not mistaken. >> way back. stuart: way back. he was a brilliant guy. he ran a revolutionary company. i want to talk to you about elon musk. as you may know by now, the news today is, that the stock is down very, very sharply. they have lost their chief accounting officer, and on the screen, elon musk smoking marijuana, drinking whiskey, live on tv with the joe rogan experience web show last night. do you see similarities, you know what is coming, similarities between steve jobs and elon musk? >> i think similarities starts and ends with their visionary point of view about life. after that, that's the end of it. they're nothing alike. stuart: wait a second. jobs was really, really difficult guy, wasn't he? >> was a difficult guy. stuart: elon musk is a very difficult guy. >> he is. i have never worked with elon. stuart: but you've seen what is
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going on? >> they're both difficult and they're both visionaries. first of all steve focused on one thing at a time. elon focuses on about dozen things at a time. stuart: wint there a time steve jobs lived on acid? wasn't there? >> definitely experimented with it for sure. so did a million other people that age. stuart: i wouldn't know about that. >> me either. stuart: you say you think apple should buy tesla. why? >> so here's the thing. apple hasn't seen the next big thing since steve died, right? stuart: true. >> elon has invented a handful of next big things during that time frame. stuart: true. >> maybe they need each other. the question is, would elon work for tim? i don't know. i don't think so. stuart: but you do think that apple should get into the car business? >> i do. i do because apple has the giant ecosystem. my whole life runs on apple. i don't know about you. my whole life, i got the watch,
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the phone, the whole nine yards. i would love to have a car to go along with that. stuart: fair point, fair point. just amazing you knew so well steve jobs. i do find that astonishing, one of the great personalities. >> it was greatest honor of my life to work with him. stuart: even though he was difficult? >> even though he was difficult. stuart: were you with him at the time he only eight apples? >> i was with him many times when he had strange diets. stuart: were you with him when he wouldn't take a shower? >> i actually asked him to take a show ear few times. stuart: what did he say? >> a couple times he said no, i'm not doing that. liz: hill hair just. stuart: you have to come back, when i have more time. fascinating stuff. >> thanks, stuart. stuart: "the new york times" paul krugman slamming supreme court nominee brett kavanaugh. he says kavanaugh quote, will kill the constitution. coming up "special report" host bret baier, he has been covering the kavanaugh hearings all week. what he has to say. you heard my editorial.
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californians are wising up, john cox closing the gap on democrat gavin newsom. could a republican win a statewide raise for california in november? it is not out of the question. president trump on the move in north dakota. he there for a fund-raiser for congressman kevin cramer. you're watching the their hour of "varney & company." ♪ oh, and there's the closing bell. (sighs) i hate missing out missing out after hours. not anymore, td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, with td ameritrade. ♪
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stuart: all right, the midterms, two months away. in california, to repeat my editorial at the top of the hour, john cox, republican, is closing the gap on democrat gavin newsom. newsom is only five points ahead. that is a terrible performance for a democrat in california. matt schlapp with us, american conservative union chair. matt, have at it.
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do you think, do you think the republicans really have a genuine shot at california? >> i'm buoyed by these polls. it is awfully tough. mr. cox is a very good candidate. gavin newsom is genuine crazy man, who basically wants to socialize every aspect much our economy. calfornians, stuart, i can't understand them. they seem to like big government. stuart: you think in my lifetime you will not see a republican win a statewide office in california? i have no idea what my lifespan is going to be. >> i think it is going to be long. in order for californians to get back to reality, and face reality, i think it will take a real bottoming out of their economy. unfortunately pause the weather is so beautiful and there are other aspects of california life, if they continue to be okay but as you know, eventually the music is going to stop because socialism hurts people
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and it never works. stuart: president trump, as you know, he is going after "the new york times" again after that anonymous op-ed, he says, it is a threat to democracy. this is real political turmoil here of course. does that distract, detract, i should say, from president trump's economic agenda going forward? >> no, you know, stuart, here is what amazing about all these ridiculous attacks, historic attacks on president trump. in the end, it makes him stronger politically and morally and other ways because, what he is telling the american people, the system is so broken, that we almost have to smash it down and start over and go back to our roots. what he is saying, government is not going to solve our problems. entrepreneurs, everyday americans will solve our problems. when he is fighting "the new york times," he is going to be winning. stuart: but the bottom line, surely, matt, a lot of people, independents, people in the middle they don't like the
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president's persona. they don't like his style. they don't think a president should be acting like this. that is not me just saying that. i heard it from a lot of people in the middle, undecided. i put it to you, the president's style, put it to you like that difficult thing for republicans to get over. >> i hear it too, stuart. i taking a trip yesterday. i hear same thing anecdotally. they love the agenda, don't like the tone coming from the president. when it looks like bob woodward and "the new york times" and the mainstream media, if they're just unfairly going after him, unfortunately that is i put bob mueller in that category, they're trying to have a coup. it allows more americans to overlook the amounts of donald trump they might be displeased with. did we have an election? was he duly-elected and is this fair? more and more voters are saying this is not fair. makes the trump voter realize, i better vote in the midterms, if they don't vote, democrats could take back the house, and could even take back the senate.
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getting that trump voter activisted is what it is all about. stuart: here is what i think. the democrats will probably retake the house but republicans will increase the majority in the senate. you have 10 seconds to make a comment. >> i think the republicans, i think you're right. i think republicans pick up at least two seats in the senate. the president will be with kevin cramer, he will win big. i think we have 50/50 chance to hold the house, only in trump voter comes out. stuart: thank you, matt. see you soon. check various markets, this is what he do at various points during the day. gold at $1200 an ounce. what about bitcoin? one coin will cost you $6412. >> >> where is the price of oil? no impact on the stork market. national average for a gallon ever regular gas has gone to $2.58. seems like it has been there an
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awful long time. u.n. workers in disney world in orlando, florida, overwhelmingly approved a new contract that will raise the minimum wage to $15 an hour by 2021. the stock is at $110 per share. a new study looks at the best cities to live in if you're young and broke. where to live if you're just starting out in your career. we'll tell you where you should be. after the break, my daughter, is just starting out is right there in our studios. she is all ears in for this one. liz: yea. stuart: first time she will listen to what i say. there is st. louis, missouri. ♪ making my dreams a reality
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stuart: remember we asked you to guess which were the top cities, the best cities, to live in for people who are young and broke? the answer is, the best city to be in is madison, wisconsin. well the study looked at things like housing, food costs, unemployment, taxes, rate of young people living in poverty, got it. madison, number one, best place to be. second, michigan, that would be grand rapids, michigan, dayton, ohio, durham, north carolina. get to the worst places to live.
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there is something interesting about the five worst cities. liz: i want you to guess which state, they are all in one state. which state is it? come on. stuart: california. liz: yes it is, binger go, you got it! go through the list, stockton, santa rosa, bakersfield, modesto, the worst, if you're young and broke, riverside. why are they the worst? high monthly rental costs $1500 a month. high jobless rates, high taxes. millenials avoiding these cities. stuart: those cities you mentioned in california, i wouldn't say they're poverty stricken but they're in areas of california in real poverty. liz: that's true. stuart: they're hit with these taxes and high rents going into a poverty stricken area, it's a nonstarter. liz: it's a nonstarter. new data, 25 to 34 years olds, 18-year-olds, a lot of those people are living with their
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parents. it is like "wayne's world" meets the golden girls. living with their parents. stuart: my daughter angela is in the studio. she has ideas, she is over there. not going to put a camera. if you think she will live with me, angie, is that all right with you? >> yes. stuart: let's get serious. check walgreens, first pharmacy to offer a epipen alternative. there is a shortage of epipens at this time of year. walgreen's stock is up. verizon's boss tim armstrong is talking about leaving. he spearheaded yahoo! and aol getting together to compete better against google and facebook. the market doesn't like him leaving. it is down, not that much, 16 cents down for verizon at 54. we're watching your money. big tech has been hit hard this week. we have a guy next who says now is the time to buy.
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he is especially bullish on google. he thinks google is the next trillion dollar company. a wild week in washington, from senator cory book arrest -- booker's and bret baier is covering it all. he will join us shortly. ♪ i've always looked forward to what's next. and i'm still going for my best even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin, i'm up for that. eliquis. eliquis is proven to reduce stroke risk better than warfarin.
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cardiologist-prescribed blood thinner. used for batteries frome teexpired oil wells. mgx's new - pilot plant aims to produce lithium-carbonate one hundred times faster than from conventional lithium brine. mgx minerals stuart: let me call this a very modest law. the dow industrials down 0.9%, down 22 points. that ain't much of a loss, is it? look at big tech. they have been hit hard this week. mixed bag this morning. some moving up a little bit, especially amazon, up 15 bucks. ray wong is with us, consolation research founder and principal analyst. he's bullish on big tech. welcome to the show, young man. what about facebook? are you telling me i've got to buy that thing right now? >> hey, happy friday. you definitely do. it's down 23.5% since its 52-week high. this is a huge opportunity.
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they've got a lot of stuff coming down the line, including a lot of things folks may have missed, including facebook at work. stuart: you're not worried about this threat of regulation coming from congress, and the other threat which is maybe we'll stick facebook with liability for some of the stuff that runs on their website. none of that worries you? >> i think if you're betting on the long run, facebook has a lot of upside. it's got commerce coming. it's got different things, payments. they even got cars, health care devices coming out of their secret lab, building eight. i think on the long run it's a great time to get in. stuart: i read your stuff. you also say that google is the next company to be worth a trillion dollars. right now, i notice it's worth $819 billion so it's got a ways to go. why are you so bullish on google? >> well, google's gone away from being a one-trick pony on search. you are looking at a huge run-up on google enterprise.
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when we talk to our clients, almost all of them are considering google as well as part of their cloud, the cloud part of the business will be their fastest growing piece, and taking share from amazon, so as companies start moving to the cloud, only 7% to 10% of the world's workloads are in the cloud today and there's a lot of upside, as there's a fight and a battle for who's got cloud dominance. these are enterprise companies putting their tech into the cloud. stuart: can you tell me what stock price google has to hit before it becomes a trillion dollar company? >> i can't remember but i think it's closer to $1200, if i remember. stuart: $1171 right now and it's worth $800 billion. i think you are probably looking more like $1300, $1400 per share to get to a trillion. anyway, you also say jd.com, that's another potentially trillion dollar company fairly soon in the future. it's nowhere near it now. what's so good about jd.com? >> if you think about the e-commerce space, they are third in the marketplace after amazon
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and google. they are in a unique position for any western company trying to get into china. they built the infrastructure to get to the last mile so you are delivering something in the western regions of china where there's maybe like a small city, small cities in china are like millions, right, you can get out there through jd. they have that distribution network. whereas alibaba uses everyone else's distribution network. you see lots of organizations trying to partner with jd so they can access the china market. stuart: the ceo of jd had a run-in with the law just a week or so ago but you don't think that's a problem at all? >> you know, i think it's probably going to pass. it's a blip. it's a chance to get jd while it's cheap. we think you can get to jd, it will end up somewhere around 40 by the end of the year. their stock has been pummeled because of china and because a lot of capital investment. it looks like amazon in 2014, where they are ramping up their
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distribution centers, ramping up their supply chain and investment in tech. stuart: last one. i want you to deal with nvidia. that's a stock we follow because that thing has gone straight up. absolutely straight up. you think it will keep going straight up, right? >> you know, there are a lot of factors and it's artificial intelligence, what's happening in 5g networks, augmented reality and block chain all rely on tpus and they are one of the leaders in that space. everyone is looking to them to actually provide the chips. they are taking a role where intel used to play that role in terms of advanced technology but you are seeing them as partners, you are seeing them in almost every deal where people are trying to figure out what's next in the marketplace. stuart: if you're not careful, you will be on this show fairly regularly on a friday morning, because we like guys who can smile and say this is going up. we like that kind of thing. ray wong, come back soon. see you again later.
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the jobs report, 201,000 new jobs added in the month of august. last hour i asked larry kudlow if he was just maybe a little disappointed with that number. listen to what he said. >> there is an economic boom, today's jobs report continues it. almost nobody believed possible. it's covering. wages, it's covering. investment, it's covering. taxes and inflation and manufacturing. we're not peaking yet. stuart: larry kudlow was peaking right there. former labor department chief of staff paul connelly is with us. i was a little disappointed at 200,000 new jobs. we got 4% growth last quarter, probably this quarter as well. i was looking for 300,000, 400,000 jobs at some point. where am i going wrong? >> i don't think you are going wrong. look, i think all the pieces are in place. i think it's a good report, a
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strong report. the most important thing here i think is this. you have a consistent trend line of more jobs and more people being hired, and i wish mr. kudlow had hit on this, but you have to look in the dynamics of the numbers of the toughest jobs and toughest people to hire. if you look at indicators like people with disabilities, there's a consistent great story and trend line of more and more people being pulled into the labor market who were on the sidelines. i think that's a great sign. then you have to ask yourself does this 200,000 number align with the policies that are still being put in place, deregulation, lower taxes, and a push to take the foot of government off the back of opportunity. i think it's there. you know, we will take a look and see if the numbers get updated but i'm optimistic about it. we always want larger numbers, i agree with you, but i think it's a strong number today and the trend line continues. stuart: another what's considered a strong number is the wage increases. wages up 2.9% year over year. but i put it to you, year over
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year inflation at the consumer level is running at 2.9% so wage gains are canceled out by inflation. that's not real good, is it? >> no, actually, it's not. i think greater attention has to be paid to this. we will take a look at what the fed is doing, but again, we are 18 months into a new administration. we are taking off 24 months almost into a new administration, taking off eight years of weight that was put on the back of an american economy. i think this is more important to take a look at in terms of where's the philosophy and is opportunity being advanced by the policies that are coming up and being debated in the next 60 days for the 2018 election. that will be key. stuart: on continued growth. you're right. the unemployment rate in august, 3.9%. we have a shot at getting it down to 3.8%, maybe 3.7% by the time the election rolls around. that will be wonderful political news for president trump. you think we'll get there? think we will get 3.8 or 3.7?
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>> i do think we will get there. the other thing for context that's very interesting, only nine times in the past 48 years has the number been here, okay, at this level, and four of those times are in the past year, in 2018. so in terms of, again, take a look at the policy, does it align with the numbers and are we going in the right direction, yes. at this point the only thing that can interrupt growth and opportunity and human aspiration is if that congress changes and those policies get derailed. then i'm not that optimistic. i think we got to keep up the fight and it's about opportunity. it's not really about which party, in my opinion. it's about the philosophy of advancing those things in a free market that create growth. that's where it's at. stuart: paul, we see you every month on the first friday of the month for the jobs report. welcome back. good to see you again. will i see you next month? >> you bet. stuart: higher profits, better sales at the discounter five below. i'm told everything in the store is $5 or less. they are doing well.
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stock's up 15%. look at game stop, a video game retailer, lower sales. the stock is only down a fraction, a tiny fraction, three cents lower. british airways says hackers managed to breach its website and its app. they stole data from thousands of customers. the airline hasn't given any details, but names, e-mail addresses, credit card details, they were stolen by those hackers. all right. supreme court nominee bret kavanaugh out of the hot seat after several days of tense questioning. up next, bret baier. does he think there's any doubt he will be confirmed? we will ask that question. tesla stock hammered today. two top executives are leaving and elon musk seen smoking weed while doing a web show. details in 90 seconds. that picture tells the story. here's a picture of new orleans. that's the correct pronunciation.
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joe rogan's podcast, looking very casual, talking about artificial intelligence and allegedly smoking some weed. also, two key departures. the chief accounting officer and also there are reports the h.r. boss left on leave and chose not to return. now we do have elon musk saying that's very much in line with other large companies. in the meantime, tesla's stock is to the down side. year-to-date it's down about 10%. elon musk was out tweeting this morning at 4:11 a.m. saying i am a business magnate.
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stuart: well, during the commercial, the dow turned positive. just as we were coming out of the commercial, it turned negative again, but not much. down two points, that's it. politics. democrat senator thomas carper won in the delaware primary, defeating his opponent with 64% of the vote. this defeat comes as an upset after other progressives have beat out incumbents in other states. supporters and opponents of bret kavanaugh will testify before the senate today. kavanaugh is out of the hot seat, done with the questioning. it's his supporters that are on the hot seat as of now. take a look at what "new york
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times" op-ed columnist paul krugman said about kavanaugh. sir, let me make a last minute appeal to republican senators who care about america's future, if there are any left. don't do this, he says. a vote for kavanaugh will be a vote to destroy the legitimacy of one of the last federal institutions standing. bret baier is with us, host of "special report." i call that a tad extreme, just a tad over the top. what say you? >> yeah. i think the title of that opinion piece, if i'm not mistaken, says kavanaugh will kill the constitution. stuart: that's correct. yes. >> if there's anybody who could look at those hearings and bret kavanaugh's recitation of federalist papers and chapter and verse of the declaration of independence and constitution and how that fits together and how a judge is supposed to call balls and strikes based on the
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constitution, i don't fully get this point of view. obviously it's a hail mary to try to get and convince some republicans like susan collins and lisa murkowski that they need to vote against bret kavanaugh, but right now, it does not seem like any of this is working, and for the most part, after looking at those hearings, i don't think that democrats laid a glove on him that much at all. stuart: you know, you really should go to the state department to become a diplomat. because you couch your phraseology so well. good stuff. now let's get to that anonymous op-ed in the "new york times." an hour ago, i asked larry kudlow if he wrote it. listen to what he said. >> why would i? i have spent the better part of the last two plus years helping president trump develop the very policies that he's been promulgating on taxes and regulation and trade reforms.
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guess what? the policies are working. stuart: well, i kind of asked the question tongue in cheek, but he took it very seriously, said it was absolutely not me, let's talk about growth. but what do you make of the "new york times," wonderful newspaper, broad coverage, what are they doing running an anonymous op-ed like this? they seem to have become the paper of resistance. >> it is fascinating to watch. it's also fascinating to watch "new york times" white house reporters have to cover and try to find out who the anonymous writer is while the opinion page knows very well who it is. i think it's a fascinating moment in history. here's this person who has said what he or she said, couched it in a way that said there are successes but they are despite the president, then essentially is saying, you know, he or she has been doing this with others inside the administration, how is that helpful to that cause?
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let's say you support the resistance inside the administration. by talking about it like this, that's not going to continue. you now have cabinet members and the vice president lining up to say i didn't do it, and you have left and right condemning this person for not coming public if you are against the president and serving inside the administration. stuart: the president wants to know the identity of this anonymous op-ed writer, and i agree with that. i think he should -- he or she should be made known. what say you? >> well, i think that that's the consensus here in washington, that if you're going to do this, you are going to lob this, you are going to be kind of working against the president on the inside, then you should come out and say it and make a declaration and say what you say, and give it to the house judiciary committee. if you believe that impeachment should start. here is this person trying to have it both ways. we are going to try to do a
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republican administration, i'm going to try to keep my job so that i have a job after this administration, and i'm going to tell you about it in the "new york times." it's pretty surreal. stuart: shall i end this the way we always end it, bret, by the following statement. i have never seen anything like this before. neither have you. >> we can do this every week. just put it in the lower third on the bottom. i have never seen anything like it. we haven't. stuart: thanks, bret. be seeing you tonight. check the big board again. we are still down ever so slightly. look at that, six points down and we are, what, two and a half hours into the session. not down very much. next, amy kremer, founder of women for trump. her group was shadow banned on twitter. she says her biggest concern is actually google. she will tell us what happened on twitter to her in a moment. meanwhile, you are looking at momentarily, miami. it's nice. it's got to be humid.
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stuart: we are going to get more
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on the talk about conservative opinion being censored on social media, because our next guest says her group was shadow banned on twitter. amy kremer is here, co-founder of women for trump. amy, welcome back. good to see you again. would you just tell us your story about being shadow banned on twitter? go. >> yes. we are a -- women for trump on twitter, we are a verified account but our numbers have not moved for a long time, and i knew we were shadow banned. we did the research, we were shadow banned. i came on here, talked to charles payne about it a month ago. i reached out to jack dorsey, prove my account which is a verified account, women for trump, no response or anything. the odd thing is, two days before jack dorsey testified in front of congress, all of a sudden our numbers on twitter, our followers, ticked up by a couple hundred. there wasn't any extra activity on our account. probably there was less, because it was a holiday. so i find it odd.
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stuart: yeah, the timing is distinctly odd. that's for sure. amy, i know you are very concerned about google. i suspect you watched the "60 minutes" piece on google about a month or two ago. do you remember that piece? >> i do. stuart: google has information on a billion individuals and if you want to know who is a bourbon drinker in northwest iowa who drives a ford truck, google can tell you exactly who those people are. am i on the right track here? you don't like that. >> well, listen, i know, i mean, they know everything about me. the government does, too, i'm sure, because of my role in the tea party movement and being in politics. but it is concerning for our privacy. as far as social media goes, we don't have to have social media to live. google has infiltrated our lives in so many different aspects, whether it's google voice with phone, google g-mail, you can go on and on. and they are so intertwined in
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our lives, and we are dependent on them. what they are doing is not only are they invading our privacy, they have been turning around and using our information and selling it to profit off of it. they are censoring us in their searches and not allowing us to come up, then using our information to profit off of it. i think it's a big problem. ronald reagan said -- ronald reagan one time said the most dangerous word you will ever hear is i'm from the government and i'm here to help. i agree. i don't think government is the answer. stuart: but what are you going to do about it? what form of regulation would take care of the problems that you have outlined? >> you know, with google, i know there are other companies out there, but they are so involved. i mean, the only thing i can come up with is antitrust, maybe break it up. some of the different divisions. but i think a big problem is that conservatives are not investing in these tech companies. they're not putting their money there. and i mean, tech is taking over
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all of our lives, and it's a real issue. we can't get rid of the social media. you can't just withdraw from it because it's like the town square, and we need to be on the same playing field with the liberals. i mean, google is coming in and taking over our lives. the only thing i see that can really fix the problem is competition. but you have to have conservatives willing to go out and invest in some of these companies. and i don't really see that happening, and that's something i have heard from a number of people. stuart: i think we have to leave it there. there is no short-term answer in sight. amy, thank you very much for joining us. we enjoyed hearing about your experience with twitter. thank you. more after this. making my dreams a reality
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takes more than just investment advice. from insurance to savings to retirement, it takes someone with experience and knowledge who can help me build a complete plan. brian, my certified financial planner™ professional, is committed to working in my best interest. . . mgx minerals' disruptive technology can extract lithium -
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used for batteries from expired oil wells. mgx's new pilot plant aims to produce lithium-carbonate one hundred times faster than from conventional lithium brine. mgx minerals stuart: how the oscars wanted to improve ratings after series of
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rotten declines? they were thinking about bringing in a popular movie category, awarding a oscar to most popular movie that wins votes. forget it. they will not do it, right liz? liz: tracking headlines this is turning into a fiasco for the academy awards. they couldn't explain how they define popular. the thinking was getting blockbuster movies like "black panther" or "crazy rich asians" in the popular category to boost ratings. they hit historic lows. people were tuning out. stuart: kill the politics, they will come back in. come on. by the way the nfl kicked off regular season last night. the ratings very important with anthem protests? liz: down 8%. 10-year lows. we're tracking story. stuart: i wonder if that had anything to do with the nike ad featuring colin kaepernick? replay of last year's decline. liz: rain delay pushed it past
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midnight. stuart: that doesn't help. we have 15 seconds left in the show. we've been you close on three hours. i'm tap dancing towards the close here. i have about six seconds left. neil cavuto is getting ready. he is getting tense. neil, it is yours. neil: i'm not really that tense. i'm appreciating the throw to me. talking about apparently a low-rated football game. cavuto, go! stuart: there you go. neil: a little weird. have a great weekend, my friend. we're following a number of developments. first the jobs report. there is strength in it. some weakness in it. strength that the federal reserve may hike interest rates. wage growth is not all that robust. there is something for everyone. net wash at corner of wall and broad. the dow down 30 points. they don't want it to be a losing week. as we stand nows it is

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