that is -- >> what the accuser said not attempted rape according to alan dershowitz. >> i'm seeing the tweet previewing a pivot from the white house. is this more of this? is this a new strategy. >> thank you all. stuart varney. it is all yours, my friend. stuart: good morning, dagen. this is going to be quite a day. we're glad you're watching. hold on title. i have a huge number for you. $9.5 trillion, how much stocks have gone up since the election donald trump. that is the at digs to our nation's wealth after 100 records for the dow industrials. that is spectacular. we're going up more when trading begins today. the dow is getting close to 27,000. the s&p is not far away from three thousand and the nasdaq ailed past 8,000. all three on the rise when the opening bell start this is morning. the market is going up despite

cavanagh chaos. the judge's accuser will not appear monday as requested. maybe later. if certain conditions are met, namely, no questions from lawyers. judge kavanaugh cannot be in the room. he must testify first. how can the judge respond to charges he hasn't seen or heard? those are i'm possible demands designed for delay. this story will play out as we're on the air. this story will play out. "wall street journal" has a blockbuster employ e. google employees where political manipulation was talked about. nothing was implemented. google is accused of stifling conservative opinion. it is leaders were in tears when trump won. thankthankfully we have the maro talk about.

"varney & company" is about to begin. ♪ we'll start with something a little different. amazon surprised us all releasing 70 brand new products. some interesting stuff. start with the basics. we're getting a brand new echo dot, entry level alexa. it will cost 70%. it is 70% louder than the previous model. alexa auto. plug it into the car. link it to the car's audio system. alexa goes where you go. for all the cord-cutters, fire tv streaming box. let as you watch netflix, amazon prime. it will record live tv off the air using an antenna. here is the one everyone is talking about, amazon's new microwave. it links to your alexa. use your voice to operate this thing. not sure if anyone needs a microwave you can talk to.

i don't know. it will only cost you 60 bucks that is a pretty good deal for any microwave, even one you can talk to. ash? ashley: yeah. stuart: amazon did all this the day before, they preempted release of apple phones. ashley: it caused quite a lot of the stir. unlike the apple conferences, here is the new iphone, here is what it can do, it's a bit flat. i take you up on the microwave deal for 60 bucks, microwave, defrost peas. always difficult to figure out how to do a really good baked potato. alexa will tell you how to do it. the connection between the consumer and the machine. amazon ising do, very, very well don't mick mistakes. smartphones are the most popular interface device out there. alexa can get it done

increasingly so. susan: to use a microwave you have to own a lex is a dot and the connect kit. stuart: this is neat trick to get out in front of apple's new phones. susan: stealing their buzz. ashley: it has been done before, yes. stuart: now amazon stolen it. very interesting. the stock is up this morning premarket. a lot of things are up this morning. don't look now folks, the dow, s&p, are back record territory. look who is here, fresh off the plane from bermuda, john layfield. john, have you ever seen anything like this before? >> no. it is the longest bull market in our history. market fundamentals are very strong. the underlying fundamentals of the economy are very strong. i worry a little bit about the trade war. i don't see an off-ramp between us and china. the market certainly isn't worried about it. stuart: if you go back to the low, 6500, or thereabouts in march of 2009, we gained 20,000

points in this bull market. my question what do you see on the horizon that might upset the applecart? >> to me the potential of the trade war. i don't see a off-ramp. we talk about a lot of trade deals, we haven't done any. we talk about potentials of trade deals. looks like china gotten entrenched. they underestimated our position. we underestimated china's position. i don't see how this is tenable getting a deal anytime soon and i worry about escalation. stuart: that is it, trade could be the thing that upsets things? >> i don't think it will but i think it could. i think inflation scenario could happen. we have a problem with oil, especially million 1/2 barrels coming off the market. sanctions on iran and bottleneck in texas. stuart: suppose the democrats retake the control of the house of representatives, would you say that is negative or a problem? >> i would say it's a negative, not a significant one. most of trump's pro-growth policies put in place. tax cuts put in place. cut in regulations put in place. what he put in place now which

could hurt the market which is tariffs. this market continues. stuart: stay there, john, because 9:30 i want to see how close we get to 27,000. want to see what you will say about it. thanks, john. kavanaugh chaos, i think i can legitimately call it that. his accuser is willing to testify next week, not monday though as requested, provided certain conditions are met. here we go again. no questions from lawyers, kavanaugh can't be in the room and he must testify first. delay is surely the name of this game. rnc spokesperson kayleigh mcenany is with us now. my question is this, is judge kavanaugh being treated fairly? >> not, not at all. he deserves to tell husband story. he deserves to clear his name and these demand run reasonable. alan dershowitz the idea, the notion that kavanaugh go first, he would be a defendant in court, the idea that would happen, anti-american, anti-due process, and absurd.

from alan dershowitz a famous constitutional lawyer from harvard. stuart: at this moment, senator grassley chairs the judiciary committee in the senate what is his position? is he saying we want you on monday and which want a decision whether you're coming or not by 10:00 eastern time this morning? >> so that was the status yesterday. stuart: yes. >> 10:00 a.m., 43 minutes, we'll know. they had a conversation last night, he did with kavanaugh's lawyers. he said he will come out give an update soon. i think today we will hear something. whether that changes 10:00 a.m. deadline. whether that changes monday demand. we'll see. i know grassley wants to hear from the accuser. republicans are very clear. stuart: when will we get a vote out of committee. when does the committee vote. >> if both testify monday pretty quickly thereafter. lindsey graham and others say let's vote, time to vote. if she does not want to testify we're moving forward. she said monday she wanted to testify. this is dragged all the way to today. she is not deciding whether she will show up. you can't make demands, do a

complete 180 and not expect republicans move forward with the vote. stuart: could be republicans in the senate, four of them, who sink the cavanagh nomination, murkowski, collins, flake and corker. >> susan collins was most iffy among the four. she says she doesn't show up we're moving forward to a vote. stuart: tell you, kayleigh, fit to be tied about the treatment of judge kavanaugh. the man has been trashed. i don't know how he get his reputation back. "wall street journal" story. google workers talked about political manipulation. tell me more, ash. ashley: they were looking for words, such as islam, people use you in the search function, islam, must lemm. stuart: mexico, latino. what they wanted to do according to chain of emails reviewed by

the journal, when users use the search terms they talk about sites contribute to pro-immigration groups or contact your local lawmakers or state lawmakers and government agencies. basically they were saying how could we counter what we perceive as terms or is islamophobic with regards to the travel ban. google says it was discussed but never implemented. it was ideas that were dismissed. comes on heels of video we've seen wake of donald trump becoming president, it was like a wake where they all cried in a room and said what are we going to do? the bias against conservatives, again more fuel to that fire. kayleigh mcenany, rnc spokesperson what do you think of that. >> brad parscale highlight ad part of video he found concerning that google with use their resources to shape their

values. for this story so essentially come out and validate that. responding to a political issue urging donations to pro-immigration groups. that is concerning, calling, donald trump supporters, communists fascists, motivated by fear and hatred. stuart: what were hillary clinton's words? deplorablable. what are you going to do about this? you can't do anything about this? >> we mount ad public pressure campaign. we encouraged them to testify before congress. all we can do is apply public pressure and consumers respond accordingly. stuart: you will working 24/7 for a couple days. >> for a few months. november is fast approaching. thanks, stuart. stuart: check the futures. where we're going 20 minutes time. we're going up across the board, not that much, but we are going up from record levels. how about walmart. check the stock, it is sounding the alarm on tariffs. it says when those tariffs go into effect from china, goods coming from china, we're all

going to end up paying more when we go shopping. details on that one coming up. keeping with trade. congressman todd rokita returned from a trip to china. his takeaway? america has upper hand when it comes to trade. he will make his case next. cal: we saved our money and now, we get to spend it - our way.

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stuart: one more executive leaving. tesla's supply management chief on his way out. but look at that, so what? this is one in a long line of exits and the stock is still close to 300 -- ashley: not tesla. it is teflon. teflon car company. stuart: looks like it. how about wells fargo, they plan to eliminate, wait for it, 20,000 jobs by 2020. walmart coming price hikes may be coming. why, susan? susan: they source a lot of their goods from china. when the trump administration

half of more than tariffs from china, that makes goods more expensive. walmart writing a letter to the u.s. trade rep, christmas lights, dog food, shampoo, backpacks, bicycles, among the items they will have to hike prices on because of the tariffs. walmart controls 10% of the retail market here in the u.s.? they are a big, big player. so if you're going to walmart looking for those items, a lot of them family items, you may have to -- stuart: got you, susan. apple, newest iphones hit store shelves today. gerri willis live from the big apple store in new york city? any, lines, yes there are. i can see them, gerri. >> you bet there are lines. this line a block long. we're on 58th. take a look at all the people trying to get one of the new iphones. it is both sides. let me tell you what is going on. these folks are preordered on left. on the right are people came out

today to get one of the phones. to. s. 10 s max got so much buzz. we talked to a lot of people. folks really want the watch because of all this new stuff with ek-gs with all the health a attributes. i talked to a guy who will buy two of them. the excitement is about the 10 s max, because it is 6.5 inches. back to you. stuart: gerry, talk to you later. i want the watch. ashley: go buy one. stuart: if i fall and can't get one, i want this thing to alert the doctor and it will. susan: fda approved and big screen for the xs max. stuart: i want big print. susan: i want to watch my movies

on a big screen. stuart: we're up 60 points now. we made a record high yesterday. 100th since trump was elected. we're going up more at opening bell. how about this from sports? the drought is over? the browns snapped a 19--game losing streak. how do they celebrate? free beer for fans. you bet cha we're following this one. more on that, i promise. where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com.

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stuart: this is breaking as we speak. we have a new tweet from president trump, i will read it for you. i have no doubt that if the attack on dr. ford as bad as she says, charges would have been immediately filed with local law enforcement authorities by either her or her loving parents. i asked that she bring those filings forward so that we can learn date, time, and place. that just into us. back to the subject of trade, and i will bring in congressman todd rokita, republican from indiana. congressman, you just came back from visit to china. what did you see over there that makes you think that we, america, has the upper hand? >> tell you, we're all told that the economy of china is some sort of ferocious tiger, but i saw a paper dragon in a hot of

respects. 160% debt-to-gdp ratio. vacancy rate in the town and city i was in of 15 million people. 70% in the office buildings. do you open up the shade of your hotel room at night? you expect a vibrant city skyline, but it is all dark. they literally turn the lights off or can't afford the electricity in many of these buildings. you know, certainly a big economy and a billion people need to be taken seriously for sure, i saw more after paper dragon than ferocious tiger. we should be unified and not so scared of these tariffs. i think we can win at the end of the day. stuart: you're basing that statement that we can win at the end of the day primary on the fact that we have a strong economy and a strong market and they don't? but how do we get to the point where we've got some kind of agreement? you can't just beat them into the ground. that is not going to work. they have to save face here? >> certainly not my point.

we want to resolve this. we want a fair deal. we want the steel to stop from being dumped on us. we want our, probably most importantly our intellectual property to be protected and respected. we don't allow our kid, we don't cheat them to cheat, steal and lie. why would we allow people we trade with to do the same thing? this is going on for decades this is going on as part of their culture. that doesn't make it right. stuart: that is their expressed intention to overtake america with technology. i think it is by 2025. awfully hard to get them to totally abandon that goal? >> maybe, my point is, that there are stressors and fissures in their economy. they are not this strong thing that they want us to believe. if we stay unified, you know, i don't think tariffs should go on forever. i think in this situation with our economy doing well and theirs having so much stress, now is the time to stand behind

president trump. stuart: we hear you, todd, thanks for joining us, sir. i will say walmart and couple other companies are warning about tariffs, how they raise prices here. look at this, we have gone up some more. stocks poised for another record day. i'm seeing the dow industrials up 70 at opening bell. we are getting close to 27,000. stay with us. that number on the screen, $9.5 trillion, that is how much value of all stocks gone up since election day of 2016. 37% up for the wilshire 5000. that is $9.5 trillion. a huge number. susan. susan: huge number. 84 records for the s&p since election day. 100 records for the dow since november of 2016 t goes to show there is a lot of enthusiasm and belief off the policies of this administration. ashley: we're asking where will the money going to go. for a longest time this is only

game. rest of the economy is picking up, doing just fine -- stuart: john layfield, i will not say it. is money pouring into america, into wall street from all over the world? is that an accurate statement? >> absolutely, ashley is 100%. late minute american market funds have been killed. emerging market funds have been killed. china is having serious problems. the only place to be is the u.s. markets. stuart: amazing thing, we sat for 2 1/2 years, watch the market go straight up. >> it has been fun. stuart: it has been fun. it really has. ride that train. a good one to ride. folks the market opens in four 1/2 minutes. we'll take you there, market going up again. (guard) i've seen things i shouldn't have.

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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. stuart: all right. the dow industrials closed yesterday at 26,656. we've got 30 odd seconds, 40 seconds to go before we start trading today. my question to john layfield, hanging out with us today, jeff sica also hanging out, he is from jersey, do we hit, 27,000 today, john? >> i think we do, yes. i think we do. i certainly hope we do. stuart: i'm trying to do the math, that will be 344 points. >> i think there is a chance we

do. stuart: zika? >> i think john is way too optimistic. i think we'll miss it today. stuart: you have 10 seconds to go. we're going to find out. who is right, who is wrong. [opening bell rings] this will be quite a day, folks, grip the edge of your seat, watch this one go. it women be a doocy. right, 9:30 on friday morning. we're up, 79 points. we already reached 26,700. now we're up 80 points. 83 points. that is a third of 1%. 82 points, okay. let's leave it at that one. of course an all-time high, 26,743. we're pretty close to a triple digit, there you go, a triple digit gain. dow industrials, we're up a third of 1%. show me the s&p 500, isn't it fun? it is friday to boot. it is all-time high. is that the 85th? i think it is 85th. we're up a quarter of a percent right there. >> 85th record since election day. stuart: thank you very much indeed. nasdaq, where is that this

morning? yes, up but not as much as the dow and s&p, i will take it. check microsoft. i want to see if i will retire soon. $114 a share. all-time high. ash, it is your show. all right. big day, let's get to it. jeff sica is here, susan, ashley, of course. it's a but run, obviously. jeff, have you seen anything like this before? >> no. this is remarkable, but when i have also not seen is about 85% of the gains in the first half of the 2018 have been four stocks. this is market doing great but it's a very narrow market. in my opinion, a very dangerous market. stuart: dangerous market? >> yes. stuart: what turns it off the cliff? >> the four stocks, these four big technology stocks are coming under scrutiny. there is going to be scrutiny and there is going to come a point where these stocks are going to get to a unsustainable

level. i don't think that's now but it's soon. stuart: you've been predicting this for some time. >> you told me you weren't going to bring that up. stuart: i will ignore jcpenney as well, if you like. i have asked you this before, john at the top. show, half hour ago, what stops this rally? >> i own the four stocks he talked about, i'm happy the way the market is moving. potential of the trade war one thing that could stop the market. inflation could be on the horizon next 18 months. stuart: inflation could be on the horizon 18 months. we're off and running. is there anything cheap that jeff sica likes? >> i like retailers. i like walmart. i like home depot and i like tj maxx. i think brick-and-mortar retailers because consumers are doing so well, they are making a comeback. they're continuing to impress me with each passing day. stuart: what is cheap, john? >> i own walmart, home depot. i agree with that. oil majors are cheap. bp, 5 1/2%.

exxonmobil are good buys. stuart: you're a market on searcher and watcher. what are other people saying what is cheap? >> the best performing dow stock this year is nike? it is up 36%. stuart: is that right? >> yes, that's right. visa, apple, microsoft all up 30%. it shows you the that the consumer is strong and they are spending. 18-year high for consumer confidence. stuart: really extraordinary stuff. it is sitting back watching history being made here. $9.5 trillion, added to the nation's wealth since the election of donald trump. that says a lot. let's get to individual companies and stocks. tesla, got another headache. the supply management chief is leaving. i don't know how many executives left in the last year or so. ashley: this guy came from apple all full of fanfare. stuart: that guy? ashley: yes, o'connor. stuart: jeff, you're not a fan of tesla. we've got this latest executive

leaving. the stock is at 298? >> that is what is remarkable. elon musk is about to preside over the biggest broom closet company in america and still have the stock staying where it is. i think what people have done is, there is this tremendous cult following and people believe that the company could exist without elon musk but what is ultimately going to happen they have to look at the fact, number one, as i said before, i know lemonade stands that make more money than tesla so that will ultimately determine the stock will be. stuart: john, tesla. >> i agree. the debt is the problem here and elon musk's personal debt with tesla stock. coface margin calls if the stock goes around $240 this is a real problem that could have a cast indicated effect. stuart: the stock stays close to 300 bucks a share. i find that extraordinary.

amazon we told you at the top of the show, released 70 new products for you and alexa for your car and a microwave that can talk. they did this before, day before stole the buzz before apple announced, comes out with the phones today. >> if you're apple marketing guy you've been called on the carpet by tim cook for letting these guys jump ahead of you. apple owns the hand, amazon owns the home. they're trenching themselves further and further into it. that is what they're doing. stuart: okay, susan. susan: that is a good way to describe it but there is a caveat to all of this, you have to connect the microwave to your echo, echo dot. you need alexa connect kit as well apa few hundred dollar chip in order to bring in this entire ecosphere. there is an ecosystem they're building you need this to get that, to get that get the jettison's world of automated garages and appliances. stuart: from the ecosystem

you're in it. you're hooked. susan: you have to pay to get in. that's the thing. stuart: once you paid your entry fee you're in and locked in. >> you're locked in. again with apple, they don't have any innovation. they have very, very little innovation. jeff bezos is brilliant in the fact that he monetizes every single product that amazon puts in. he clearly defines how to make money from it. talking to your microwave, which i've been doing for years, is going to, sometimes the microwave is only one i can talk to. stuart: i disagree with you about apple innovation. the new watch has the heart monitor and the, you fall down and alerts the doctor. that is a big deal for someone like me. all right. moving on. check the big board. we're up 82 points. we are at this friday morning 26,739. 737 okay, we'll take it.

up 80 points. 10-year treasury yield, we used to think a couple weeks ago, if the yield goes to 3%, there is a market selloff. not so. we're at 3.08%. we keep on hitting record highs. have a look at chipmaker micron. it is joining the tariff debate. it says if we get tariffs on chinese goods coming to america, it is, micron's financial results affected for a year. that put the stock down 5%. google, bombshell from "the wall street journal" they report that some google employees discussed manipulating search results to counter president trump's travel ban last year. got anymore on this, ashley? ashley: this was basically as they reviewed these e-mails innal emails, "wall street journal" found there was discussion right after the travel ban went into effect people within google are saying, how can we alter the algorithms when someone searches using the words islam, muslim, mexico, latino, we can include in the

search, include an area where the users would be able to make donations to pro-immigration groups. stuart: pro-immigration groups. ashley: pro-immigration groups. a way to try to counter they say was islamophobic atmosphere. stuart: diverse. ashley: direct them to state or national lawmakers or government agencies to try to counter what they perceive what is essentially racist searches on google. google said, look these may have been ideas, none of that was ever put in place. certainly the impression you get of those working inside realizing they have tremendous potential to sway people's opinions they would even think that way reveals a lot. stuart: don't they just. talk wells fargo plan to eliminate more than 26,000 jobs by 2020. they're trying to cut costs because of all scandals hit them and customers leaving bank. that is five to 10% of the workforce. >> five to 10% of the workforce.

they employ 260,000 across the u.s. this is combination of layoffs. attrition, you shed workers not working out. it is tough times for wells fargo, third largest bank in the u.s. fake account scandal in 2016 and fined a billion dollars for inserting some questionable charges when it comes to autos and mortgages. stuart: they're still at $55 a share? not exactly teflon but up there still. disney chief bob iger talking about the "star wars" franchise. he told "the hollywood reporter" they did too much too fast. fans can expect some slowdown for the "star wars" franchise. what do you think of that? >> they are -- stuart: i thought it was a big winner. >> it is. last movie, seeing this decline. hard to imagine a movie that did 350, 400 million is considered to be a failure but he is recognizing this has been a franchise been going on and on and the big issue is creating new content. susan: bad reviews. >> a lot of new content is

coming online. when you have netflix and amazon, with new content, the old franchises do get some competition. i think it is, i think it's a good idea to scale back but i don't think it's a good idea to eliminate this iconic franchise. stuart: they didn't get good reviews. susan: no, han solo was terrible. that is my opinion. marvel black panther franchise. it will be a multimillion-dollar franchise. they went too far with the "star wars" it is human nature. stuart: it is historic day. time is limited on history making days. zika, john, thanks very much for joining us. to the big board, 79, 80 points. 26,700. after the storm the carolinas still recovering from florence. more flooding expected this weekend. that is amazing. details coming up. roller coaster ride for

canadian marijuana grower tilray. here is the question, are pot stocks like tilray a good long-term investment or just a trading play? we'll discuss after this.

stuart: check the market very frequently for you. we're at record territory. we're at 26,700. connell mcshane at the new york stock exchange. give me the mood. it has got to be excitement, surely. reporter: if you're not in good mood now, stuart, you have to check yourself. a lot of positivity. why wouldn't there be, record after record being set here. things could get a little wacky on the floor tradingwise. you have a couple things going on, quadruple-witching,

simultaneous expiration of futures contracts. always make things more volatile. what we'll see is huge rebalancing of indexes. so if you look at s&p 500 tech stocks, big names like a facebook or twitter or alphabet google's company, after the close today they will no longer be classified as tech stocks. there will be a new sector communication services. what that means, stuart, all these etfs, a lot of regular people hold, people who manage those have to do a lot of buying and selling today. could make things a little more crazy. generally speaking to answer your original question, a lot positivity down here. why not? stuart: connell, i didn't know they would rename the sector. i did not know that you learn something every today with connell mcshane. reporter: i don't know about that. stuart: take credit when i give it to you, son. listen to this one. a court awarded money to plaintiffs who say that round-up, that is the weed killer from bayer and monsanto their subsidiary company.

causes cancer. they're staffing up legally. ashley: desperate to get the award of 2$0 million overturned. they say the science proves linked between the herbicide found in round-up and cancer. they found 700 plaintiffs lining up to have a go at bayer, if you like mon san toy that bayer bought two months before this came to light. they're gearing up. the judge in california will rule end of next month, beginning of november, whether they overturn the huge award of $289 million. bayer is nervous. stuart: rightly so. ashley: yes. stuart: roller coaster ride for canadian marijuana grower tilray. it plans to import cannabis to america for clinical trials. greg smith, evolution corporate advisors. i'm naming you as our pot stock analyst. is that okay? >> that is okay. thank you for having me here

this morning. stuart: understood. i think of pot stocks, as a trading vehicle. i don't think of it as something that i should get in now on the ground floor. hold it for long term. if i was a trader i would be in pot stocks. what say you? >> that's right. you have a certain bubble occurring in shares of tilray right now. you have them priced at ipo at $17 in july and stock trading up 10, 15 times weeks after a ipo. i have to believe every institutional investor bought at the ipo is blown out. it is dominated by retail day traders. stuart: retail day traders in and out in five minutes. >> people are renting the stock. i don't think anyone in there has long-term view. if you have long view on this i would have downward bias. stuart: is there any one thing sell beginning as one single pot stock if i can call it that, established, going places and okay for a long-term investment? >> i think tilray had a certain

halo effect. it was the first stock to ipo on the nasdaq. you have hundreds of publicly-traded cannabis companies don't trade on the national exchange. it had a halo. traditional underwriters on a u.s. nasdaq exchange. stuart: will it last? >> i don't think it will last. i think tilray is a quality company. there are a lot of quality ways to invest in the industry, but what valuation is the question. stuart: suppose the attorney general under orders of president trump, reclassifies marijuana, away from a class a or class one drug along with heroin and cocaine, would make it a class b drug, that would open up the market nationwide, wouldn't it? >> i think you bring up a good point. especially day traders whipping tilray around. we have 50 days left until the midterm elections. less than 50 days. 500 seats are up and open. it will be very interesting to see what happens. you have ballot initiatives in states ranges from utah,

missouri, michigan, north dakota. we'll see what happens. the big elephant in the room, what will happen with sessions. if trump asks session to exit stage left, that will be a huge boon and huge pop for cannabis stock. stuart: greg smith, i apologize calling you pot stock analyst for the day. that is what you are. thank you for being here, sir. >> thank you for having me. stuart: thank you. check the market. still a rally. not quite as far up as we were. we'll take it. 72 points higher. the economy, clearly booming, and people are yes, they are shopping. was the retail ice age, that expression that we used, just a myth? that's what our next guest says. and he is going to make his case after this. you need a partner that is willing to break free from conventional thinking. we are a different kind of financial company. we are athene, and we are driven to do more.

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stuart: yes we're in record territory. it is a modest rally, record territory it is, 26,700 now. microsoft, yes, i own a little bit of it. new high. it is at $114.22 per share. watch it go. to the carolinas, they are bracing for even more flooding after florence, coming up soon. susan. susan: it is getting worse before it gets better. 19 gauges were flooded along

northern north carolina and southeastern south carolina waterways. the waterways are expected to rise over the weekend before they finally crest at some point. estimates put 20 to 40,000 vehicles being destroyed in the flooding. and of course, category 1 storms, that hurricane florence was when it hit, and claiming 37 lives. stuart: amazing. still, even worse still to come. that is astonishing. susan: flooding at least. stuart: do you see that? that is a fancy graphic. we made that for the retail ice age, remember that? that was an on going story for many, many years, but the economy, it is humming along and things are turning around. so we made a brand new graphic. can we see it please? retail revival. oh. what is this all about. ashley: very positive. stuart: the gentleman on your screen is brian field. he is from shoppertrak, and you say, that that retail ice age was a myth. make your case. >> absolutely.

thawing for having me. shoppertrak is data analytics, we work with retail analytics. we work with thousands of retailers around the globe of the we count 40 billion footsteps every single year. the data that we have is showing that in store traffic is really coming back. what we saw about two years ago, at its depth there was a downward turn in traffic mid-single digits. last year at holiday season that was cut in half. that trend continued this year. stuart: i think we were right in saying, use expression of retail ice age, as i understood it, 8,000 brick-and-mortar stores closed last year and a similar number years before. that is what we're basing retail ice age on. you say it is coming back.

people people going to bricks and mortar stores, right. >> absolutely, absolutely. a couple things, in addition to that, if you listen to some pundits they would talk about a prime day, middle of the summer. it would be just a death knell to brick-and-mortar retail. in fact what we see, it had zero impact on traffic for retail. stuart: so it is the strong economy. return of degree of prosperity. that is what bringing people back to the malls and actually going into a store? >> sure. i heard you talk about that for a lot of this morning. i think it is that. i think it is retailers are themselves finally coming to terms with, what is the intersection of bricks and clicks. retailers that are have been traditionally pure may online are, are, starting to open up

stores. retailers that have a mix or or vent been in the internet business, they have been changing the way they have been doing business with their customers. they have been focusing on experiencal retail. stuart: thank you, brian. thanks for joining us from shoppertrak. see you soon. we have kavanaugh chaos. here is my question, is the judge, judge kavanaugh is he being treated fairly? i will answer that, after this. s to help keep you on track. and closer to home. edward jones grew to a trillion dollars in assets under care, by thinking about your goals as much as you do. where we're changing withs? contemporary make-overs. then, use the ultimate power handshake, the upper hander

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stuart: it is almost 10:00 eastern time and this is the hour when senator chuck grassley, this is the hour he set as the deadline for christine blasey ford to tell the judicial committee if she will testify on monday or not. here are the questions we're

trying to answer, waiting for answers to these questions. will she testify? if so, when? and what are the terms? if she says no, do the republicans push ahead with a vote on kavanaugh? we don't know if grassley's 10:00 deadline is hard, or is he willing to wait just a bit longer? we may get news on this at any moment and will bring it to you when we have it. question. is judge kavanaugh being treated fairly? my opinion, absolutely not. he has categorically denied the allegation against him, but leading democrats already say he's guilty. that is grossly unfair. adam schiff, ranking democrat on the house intelligence committee, says republicans are quote, okay with putting someone who committed attempted rape on the supreme court. you hear that? he committed attempted rape. the judge is not allowed a defense, he's guilty. it's come to this?

senator gillibrand says i believe kavanaugh's accuser, therefore he's guilty. and the accuser must be believed, therefore he's guilty. there is no evidence, there are no corroborating witnesses, no location for the alleged incident and no firm date except it was a very long time ago when judge kavanaugh was a teenager. despite all this, democrats say he's guilty and they say it publicly, thereby trashing the judge's reputation. think about this. the judge's family is being slimed. do they deserve this? the judge's reputation has been tarnished by this unproven allegation. where does he go to get his reputation back? and the supreme court itself has been turned into an unseemly circus. how's that for trashing america's foremost legal institution? much has been said about fairness, mostly about fairness to the accuser, but when all is said and done, we will look back and say the democrats were

grossly unfair to judge brett kavanaugh. the second hour of "varney & company" is about to begin. stuart: first, let's check your money and the markets. all-time highs for the dow and s&p. we are still up about, what, 45, 46 points for the dow. microsoft has reached $114 a share, backed off a little. $114 was a new all-time high for microsoft. apple's new iphones hit the store shelves today. very little impact on the stock. it's already built in. the stock is actually down 20 cents. amazon released 70 new products yesterday, stealing apple's thunder. that stock is also going nowhere at the moment, up just 41 cents at $1,944. tesla's supply management chief leaving. no impact on the stock. still pretty close to $300 a share. and the price of oil, $71 per

barrel this morning. let's get more on the market. as we said, record highs for the dow and s&p. the record bull run continues. bring in market watcher david barnson. how long can this run go on for? any opinion? >> i think the rally in terms of the full bull market, not the short-term window of a rally, but as far as the bull market we're in, it will end when all bull markets end, when there is so much euphoria, we have a blow-off top and i'm fond of the expression when the last dumb dollar comes into the rally. stuart: are we close? >> i think we are in the seventh inning. i think that's language you hear from others as well. i don't mean to have a consensus view, but i happen to really believe it. i think that there is a fair amount of time that can continue going around the business investment taking place in this country, and the fact that so much of this rally, stuart, so

much of this bull market since 2009 was so tepid, so muted in terms of the economic recovery that we had during the obama administration. stuart: is there anything out there that's cheap, that's maybe a strange question, but i see the stock market is up 20,000 points on the dow since the low of march 2009. that's carried prices way up there. is anything left that's cheap? >> okay. let me answer your question about what's cheap but first, the market had been at 14,000, and went down to 6,000, and then didn't get back to 14,000 until 2013. so if you look at it that way, the market's up a ton but when it got back to where it was, in other words, that 20,000 points, you're including 8,000 points or 7,000 points of recovery. you see what i'm saying? so really, i think you have to kind of look at it in full context. right now, what's cheap. well, it's probably not the

entire s&p 500 index, especially market cap weighted. i think emerging markets are cheap. i think japan is cheap. but here in the united states, i think energy infrastructure and old tech is cheap. stuart: what's old tech? are you talking like ibm? >> i am talking ibm. i'm also talking sisco and intel. if you look at those companies that power the kind of technology needed to create new tech that are the chips and servers and sort of that boring, if you will, back off from a technology ecosystem, i think these companies have this incredible free cash flow, incredible balance sheets and really reliable management. they are stable companies. but then they are suited for growth engines in new dynamic markets. stuart: you know, david, you don't seem very excited. here we are sitting on 100 record highs for the dow industrials since trump was elected, and you're just not

excited. what's wrong with you, lad? >> i work so hard to contain my excitement every day, especially when i come on your show. i need to be poised. stuart: whatever you say. come on back -- by the way, we don't want poise. we want excitement, okay? come on back soon. thanks, david. appreciate you. thank you. i want to get back to judge kavanaugh. is he being treated fairly. if you saw me at the top of the hour, my answer is absolutely no, he is not being treated fairly. tammy bruce is with us. tammy is the former president of the los angeles chapter of the national organization of women. >> let's not remind too many people of that. the perspective there is important. look, i stand for, i think all of our viewers do, americans do, for justice. we want to search for the truth, right? what's been happening now has been the antithesis of that. this has been about as we see with dr. ford's lawyer's requests for this hearing, they are literally asking for a kangaroo court which makes a mockery of the principles of law

and justice, asking for irregular, irresponsible standards like having the accused have to speak first before we hear from the accuser. stuart: the lawyer for miss ford has put out several conditions before she will appear. she's not going to appear on monday. she's too busy dealing with death threats. it may be later in the week. and no lawyers may ask a question. kavanaugh himself may not be in the room. as you said, mr. kavanaugh must testify first. that is impossible. >> they might as well request that he sit in a cage in the room. these are requests that make it seem as though they want them to have to refuse. they are asking for literally a kangaroo court and of course, when they say that they don't want lawyers asking the questions, what they want is for this to be theater for campaign ads in november, because they're saying judge kavanaugh has an attorney, it's a woman who understands this process. they want the individuals of the

committee to only ask the questions, when in fact, he will be asked questions by people like kamala harris, people who are effectively acting as lawyers for her. if this is about the search for the truth, she would simply come, and we want, americans want her to be able to tell her story. they don't need these frameworks to do that. let me also just say they are also sending a message through this process that only certain kinds of women matter. that conservative women, women who in the past, as an example, who have had the same experience or alleged experience were pilloried and rejected. in this case the message to americans is only liberal women or women who pay allegiance to that framework matter, no one else does and we reject that notion. stuart: let me bring this up because the president tweeted early this morning that christine ford should have filed charges 36 years ago. your response to this? >> well, i think, you know, i appreciate the president and i

support him a great deal but many people make this mistake. i do not begrudge any woman for how she chooses to handle an experience or in this case, alleged sexual assault. we all have different life experiences, we all have different things going on, and i think that we are all going to make choices that best suit our lives at the time. but right now, as adults, i think she's been betrayed by the democratic establishment but she now is fully engaged in this and is making choices that are, i think, obviously political in nature. this has been completely politicized at this point and americans see that for what it is. i hope the senate judiciary committee handles this as they should and fairly. stuart: i would like to see the judge get his reputation back but that's going to be difficult. that's a fact. tammy, thank you very much. we have a big hour coming up for you. venezuela's president maduro goes to a celebrity chef's

restaurant in turkey. he does this as his nation starves. that's a story and a half. we're on it. president trump calling for funding for the border wall, says he could get it done in a year if he got the money. want to know if it's such a priority to the president, why can't he get it? i will ask arizona republican. remember this? president reagan's morning in america and touting economic growth? our next guest says it's 1984 all over again. he will make his case for using that in the midterms. we are following two stories this hour, waiting for news on whether christine ford will testify on kavanaugh, and when, and yes, the market rally. we're up 50 points now.

stuart: well, not as much as we were, but we're up about 50 points. 26,700 is where we are. look at wells fargo, trying to eliminate, what, 26,000 jobs by 2020. they're cutting costs after a series of scandals. no change for the stock, $55 a share. amazon unveiling a raft of new products but everybody's talking about the talking, or you talk to the new microwave? >> alexa, please defrost my chicken or cook my popcorn. there it is. $60. that's what it will cost. stuart: wait sht, wait, wait. so i stick a frozen chicken into the microwave, as one does, and say alexa, defrost the chicken? >> put it on, i don't know, nine minutes defrost on power 10, or medium power. stuart: it works it out for you. you don't even have to do that. you can put in a baked potato and say bake the potato. it will do the calculation for you. >> you need to own an echo dot

speaker and -- stuart: yes. otherwise it won't do anything. i have to pay to get into this. i might just do that. thanks. let's get to the economy. i want to play you this. it's an ad from president reagan's 1984 campaign. roll tape. >> it's morning again in america, and under the leadership of president reagan, our country is prouder and stronger and better. why would we ever want to return to where we were less than four short years ago? stuart: i remember that ad. morning in america. it was a good one. our next guest says today's economy is very similar and voters in the midterms should reflect this very similar economy. horace cooper is with us, national center for public policy research. you think the strength of the economy and the parallel with reagan's economy is enough to carry the republicans through to a big win in november.

you may think that but the polls don't show it. what do you say? >> here's the issue. it's about what is happening in the lives of real americans. what they do is they evaluate am i getting what i want out of the leadership that i have. it's not about republican versus democrat. when you look at this robust growth, when you look at how all sectors of the economy, when you're talking about blacks, whites, men, women, it's how many different groups are getting record-setting opportunities and setting new levels of achievement, there are going to be a large number of americans who say i don't want to change that, i don't want to stop that, and that's what we saw heading into the 1984 election. stuart: but you're ignoring the popularity of the president himself. in 1984, ronald reagan was a

popular president. in 2018, president trump is not that popular with some sections of our population. >> we learned about this answer in 1992. it's the economy, stupid. what the american people are going to be saying is where am i going to benefit or where am i going to suffer. you might say you don't like a person or you might say you do love a person, but what you do like the most is having a nice place, being able to send your kids to the school you like, being able to take a vacation, something millions of americans haven't been able to do during the entirety of the term of barack obama. stuart: about 40 odd days to go. we will find out how this thing works out but i want to raise this with you as well. the "wall street journal" has a blockbuster story about google workers who discussed tweaking its search engine results to

counter, oppose, the president's travel ban last year. they were talking about political manipulation. what do you make of this? >> i'm very troubled. our organization, the national center and its free enterprise project, has been really, really hammering hard on the importance of the leadership of the alphabet corporation, that they show that they understand that we are a diverse country, and there are conservatives, moderates and liberals, and that they are supposed to prosper by serving us all. it looks to me and this story reveals there's not much interest in serving us all. there appears to be an interest more in a narrow, hard left agenda. that is ultimately going to reflect in the stock valuation and the willingness of congress to engage in regulation. i call upon their board, reconsider this course. stuart: okay.

the stock price is holding up pretty well. i've got to tell you that. come see us again soon, okay? appreciate you being here. thank you. did you know jaguar has electric car on the market? they do. maybe you can call it their answer to tesla. gary got behind the wheel and he loved this new jaguar electric. he will make his case in a moment. ♪

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on at & t right now. you might say watch out, tesla, jaguar has unveiled its first all electric suv. fox news.com automotive editor got one, didn't buy it, got one, drove it and is giving his report. how was it? >> two years ago, no one would have expected jaguar to be the first company to challenge tesla with an electric luxury car. they introduced the concept and it's out. it will be the first one on sale. jaguar known for its smooth v-12. this car is perfect, outstanding. the drive quality, first impression, really impressive. the drive train itself, very powerful. it's not as ludicrously fast as the tesla but quicker than even some of the jaguar sports cars out today. hit the accelerator, your head gets slammed into the seat so it's got that aspect to it. stuart: that's what i always heard about electric cars. the acceleration, the pickup, is absolutely spectacular. >> they nailed it on that. it also comes standard in america with an air suspension so the ride is buttery smooth.

it can even be jacked up to go through water or light off-roading because you have to get to the country club now and then. the interior finish, absolutely gorgeous. no apparent issues. look, it's brand new, as far as dependability is concerned, we have to see how that shakes out. but for a first try as an electric car, this thing is a hit for sure. stuart: two questions. a, how much, b, what's the range? >> 70,000 to start but you get the federal tax credits and all that with that. it has a range of 240 miles which makes it an every day car. now, given the battery size, tesla still has an advantage there. they do get more range out of the similar sized battery as this thing uses. they have some technology that jaguar is not, or they are pushing it a little further than jaguar is willing to take it. stuart: you must have seen that report on the model 3, it earned a perfect five stars for safety from the national highway traffic safety administration. perfect five-star rating. that's about as high as it gets, isn't it? >> it is. tesla always gets five-star

ratings. this is crash testing, has nothing to do with auto pilot or anything. being an electric car, there's no engine up front so you have a much larger crumple zone to take advantage of. the battery pack itself takes a bit of the hit as well. makes it a little more robust. this is a key selling point for tesla, this sort of safety, and they have done it again with the small car. stuart: i don't think you have yet driven a model 3, have you? >> not the model 3. stuart: you drove the original tesla. >> yeah, the previous model. stuart: which do you prefer? >> jaguar is smart. they made this a compact crassovcras crossover instead of sedan or large suv. they found a little hole to fit it in. that's going to be important. i think it will keep jaguar customers from thinking about going to the tesla dealer. it will bring them new customers as well. again, we were talking before, self-driving shuttles, that's not a bad kick-starter to get the launch going. stuart: gary likes it.

good stuff. president trump wants money for the wall. he says republicans must get tough with democrats who are just obstructing. next, the republican congressman from a border state. here's my question. why wasn't there single dollar for the wall in the latest budget?

stuart: we've had this all the time. you say popular request. >> friday. stuart: okay.

all right. let's get out of this. check the big board, still up but not much. 37 points higher, just shy of 26,700. walmart is warning that president trump's tariffs could hike prices for goods in walmart stores. no impact on the stock but it is a warning. mcdonald's upping its dividend 15%. you will get $1.16 per share. investors like it. it's up 2.5%. 2.25%. not bad. big tech names, let's have a look at that. especially microsoft. it is up now just 14 cents, $113.73. the other big techs are actually down. they had been up, now they are down except for microsoft. look who's here. dorri wiley is with us. i know that you like some of the techs. you like them big-time. start with apple. i know you love it. make your case. >> let's talk about apple.

they got the new phone coming out today. think about them for a minute. they have enough brand loyalty to get $1,000 for a phone. think about that for a minute. then when you compare them, they got the lowest p/e, they return almost three times for every dollar you invest in them. i like apple right here and they have momentum. stuart: if they raised the dividend, i might buy it and treat it as a utility. what's wrong with that? >> nothing wrong with that. that's kind of icing on the cake for a big tech name. stuart: it would be. all right. how about facebook? i know you like that, too. >> i do like facebook. it doesn't have the momentum apple does but it has the highest margin, has a huge r.o.e. to it. they will have a good third quarter. so buying here in the next couple weeks as the market's in the doldrums is -- stuart: facebook is 164. where's it going? >> i think it's 200 plus. stuart: whoa, whoa. we're burying the lead here.

>> you know, that's not a short-term. if you have a 12 to 24-month holding period, to reason why that shouldn't be 225, 250. stuart: that's facebook. go back to apple. it's now around 220. give me the longer term perspective. where's it going? >> apple has already had a good year. no reason why it can't move up 25%, 30% from here. 12 months. stuart: 25%, 30% in the next 12 months? you have to stop burying the lead there. >> they have a lot of cash and a lot of margin, and a lot of undervalue to them. they have a great position. i think they have a lot of room to run. certainly makes a lot more sense than netflix. stuart: trying to get this guy a couple extra minutes here. you like facebook and apple. you also like macy's. >> i was pushing macy's with you last time i was here. macy's is up 65% for the last year. they are less than a six times

enterprise value to ebita. what private equity firm wouldn't want to take that and take it private? maybe they are afraid of big box retail. meantime you get a nice dividend over 4%. the p/e is very low, less than seven. i think we are coming into a good christmas. you win the elections, if nancy pelosi isn't the grinch and speaker of the house, macy's will take off. stuart: last one. i know you like at & t. full disclosure, i did buy at & t a couple weeks ago because i like the 6% dividend yield. you like it for capital gain. you think it's going up, the stock price is going up? >> yeah, i do think it will go up. it will take awhile. they have to absorb all this debt but their position in the marketplace is so much better. i think they are able to compete against netflix now going forward that they weren't able to before. meantime, you get paid 6% while you wait for the p/e multiple expansion in the stock. stuart: you are doing good so far.

you still yield 5.95%. >> almost 6%. almost. stuart: where is that accent from? >> west texas. stuart: west texas. i asked you this before. >> yes, you did. stuart: which town? >> lubbock, texas. home of the red raiders. stuart: oh, yeah. that's texas tech university, i'm informed. >> that's right. stuart: you thought i didn't know. you thought i didn't know what i was talking about. >> we throw the ball a lot. stuart: great stuff. thanks very much for joining us. we do appreciate it. >> you bet. glad to be here. stuart: president trump, while he's going after the democrats because of funding for the border wall, he did this last night at a rally in nevada. roll tape. >> because of the democrats' obstruction, only $1.6 billion, sounds like a lot but it's not when you are talking about what we're talking about, $1.6 billion was just approved.

i'm not thrilled, but after the election, they are all telling me we are getting our wall the way we want it so let's see what happens. stuart: the president last night on the wall. joining us, congressman andy biggs, republican from arizona, which is of course, a border state. congressman, the republicans have the white house, they have the senate and they've got the house of representatives, and there still wasn't a single dollar for building a wall in the last budget. can you explain yourself? >> well, i can explain myself. i can't explain my colleagues who don't want to build the wall. you know, i just introduced another bill to fund the wall and build the wall, and they assigned it to seven committees. so i'm not quite sure what to make of this except for somebody up there doesn't want a wall is my guess. well, the american people do want that wall. stuart: i have to say there are many republicans who don't want the wall. you have to say that.

if you have a majority, you have republicans in the house and republicans in the senate, if they were united to build the wall, you would build it. it's obviously opposition from some republicans that's stopping it. >> absolutely right. i agree with you 100%. look, even my bill, they assigned to seven committees which does send a message to me they don't necessarily like me or my idea. it sends a message to the world that maybe the wall's not what some of these folks want to do and that's a problem, because we made a promise we were going to build this wall, we were going to fund the wall, and my bill provides funding outside the general funds, and it gives an opportunity for us to build a wall, and if we don't do that, if we don't make a substantial step before the midterm elections, then i think we are going to have potential voter suppression and that's going to hurt the republicans. we have to get out our vote. the democrats are energized. we have to make sure republicans are energized and the way to do it is to build the wall. stuart: okay. tell me about border security.

as i understand it, it's loosened up all over again. >> yeah. well, you know, we have people still in the upper levels of the agency that enforces this that still is in catch and release mode. i talked to the border patrol agents. they want to enforce the law. we cut their funding under obama administration. we still have not restored that funding. so yeah, you are seeing a surge and you are seeing some softening there, and you are seeing places in arizona where we have stations that are only 50% of force level because these agencies, they get demoralized and leave. they can make more money at tsa than border patrol. stuart: put your bill aside for a second and tell me honestly, one year from now, will that wall, seriously, will it be built? two years from now, will we have a wall in place two years from now? >> well, if it was my -- if i

had my druthers, yes. stuart: you're saying no? you're saying no. >> i didn't know it was binary choice but you may be right. i'm very concerned because i sense that there's some reticence and reluctance in people within my own party. stuart: got you. congressman, we do thank you very much for being with us this morning. best of luck. >> thank you. stuart: i want to go back to walmart. they have warned that price hikes may be coming, and susan, i think they are saying this because of tariffs on china goods. >> walmart has written a letter to u.s. trade representative robert lighthizer warning that the tariffs on more than half of chinese imports now into the country is going to affect walmart pricing. they said you will have to raise prices because they source a lot of goods from china, of course. stuart: in the immediate future, there's a 10% tariff. >> on $200 billion. stuart: that's this month. >> that's right, on top of the $50 billion that's already been tariffed as well. stuart: is walmart saying they

will raise prices 10%? >> i don't think it's a direct 10% to 10% but they are warning that goods like christmas lights, shampoo, dog food, backpacks, bicycles, bicycle parts which they source from china, that could go up in the future for consumers, and if they control 10% of the retail market, 10% of the multi hundreds of billions of dollars of retail in this country, the average consumer will be affected. stuart: i'm a walmart shopper. >> aren't we all? stuart: lot of stuff is made in china. that's where it's from. that's the truth. thank you very much indeed. now this. we are waiting for word on the kavanaugh hearings which may be next week. we have a guest with a warning for the gop. a kavanaugh defeat would demoralize the republican base, not energize it. that's an interesting perspective. it's from kim strassel, "wall street journal" editorial lady. she will make her case in a moment. next hour, actually.

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stuart: congressman just got back from china and says well, we have nothing to worry about when it comes to a trade war. take a listen. >> 160% debt to gdp ratio, a vacancy rate in the city i was in of 15 million people of 70% in their office buildings. you open up the shade of your hotel room at night and you expect a vibrant city skyline, but it's all dark. they literally turn the lights off, they can't afford the electricity in many of these buildings. so it's certainly a big economy, a billion people need to be taken seriously for sure, but again, i saw more of a paper dragon than a ferocious tiger so we should be unified. we shouldn't be so scared of these tariffs because i think we can win at the end of the day. nah. not gonna happen.

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perspective. 635 days since the browns won. let's take a look at the markets. what about the dow? what's the dow done since the last time the cleveland browns won a game? it's up 33.7%. it's been that long. stuart: let's be honest, the markets have been on a tear at the same time. that's since the browns -- they lost throughout that whole period, the browns. they finally won. what about unemployment? that's kind of interesting. what was the unemployment rate when the browns last won? 4.7%. not bad but it's down to 3.9%. >> by the way, the browns, everyone got a free bud light if you were in the bar, which is great. the one i love quickly was the cleveland police put out this tweet. there they are, the fans. this is from the cleveland police department. we won! wait, oh, god, the free beer thing. okay, cleveland, stay calm. stuart: good story. all right. joining us now, the self-described professional gambler known as the philly godfather. steve, welcome to the program.

i don't believe we have had a professional gambler on the show before. bunch of amateurs but never a professional. did you bet on the game last night? >> we took some cleveland money. stuart: wait, wait. you have to explain. you took some cleveland minus three. explain? >> we ended up betting the browns. the browns had to win by more than three points and we got lucky on the game because if baker mayfield didn't come in after tyrod taylor got hurt, the whole dynamic of the game changes. we got a little bit lucky last flight. mayfield outscored the jets 21-3, had 200 yards passing. taylor only had 19. he helped us cash the ticket. stuart: you saw this coming. >> not really. better to be lucky than good. stuart: over the course of your career -- >> luck favors the prepared mind. stuart: luck favors the prepared mind. i must remember that. got to prepare my mind. tell me about the impact of legalized sports betting on america.

look, before you start, you are in this business. to me, it's a revolution, because i think the way we gamble on sports is going to change dramatically. am i right? >> absolutely. the whole landscape's going to change. within five to seven years, as some experts predict, 20, 25 states will have some form of legalized sports gambling. i say it's about 75%. as soon as all the tax revenue starts coming into the states, all the other states will want to copy it, mimic it and get sports gambling, you know, out there, and eventually, when you go to your state, and your football or baseball stadium or basketball stadium, there will be an in-house sports book inside the stadium so you will be able to go in, bet your wager, bet on the team you want and while the game is in action, you will have a live mobile app and you will be able to bet propositional bets, who will catch the next touchdown pass, how many yards is this wide receiver going to have in the game. there will be so many bets you can place, it's amazing what's going to happen. stuart: that's radically different from what you've got now. do the odds, i don't know

whether i'm using words correctly here, but do the odds change during the game, as you are sitting there at the stadium? >> absolutely. live wagering, yeah. depending on, you know, where the team is on the field, which team just scored. the odds are constantly changing, constantly being updated. it's a market just like the stock market. the numbers are constantly moving. stuart: are you just a gambler looking at this and approving, or are you on the inside of the business running a book somewhere? >> i'm not a bookie. we have been betting professionally for over 30 years. there have been a couple books written about us. that's all we do. we bet on sports, we look to identify value within the market. stuart: is it your sole form of income? >> it's the biggest form of income. i also dabble in real estate. it's very safe, very profitable. you got to put the money somewhere. i never invested in the stock market. i'm a little scared. stuart: i don't think an investment in the stock market is gambling. i object to people saying it's gambling. it is investing.

it's making a rational choice. you don't lose everything when you put your money down. >> help me out with the stock market, i will help you out with sports. stuart: you're on. you better come back here because we like you. thanks very much. appreciate it. it's a question i have been asking for some time, a long time, actually. what is the end game in venezuela? we continue to see headlines about the complete and utter chaos down there, but it's still going on. we will tell you about it and see if we can figure out an end game. the big board still shows a gain of 54 points. we are up 26,700 is where we are. we'll be right back.

stuart: it's still a modest rally. we'll take it, 26,700 is where we are. now this. something different. venezuela's president maduro under fire for eating a pricey steak dinner at a celebrity chef's restaurant in turkey. there are food shortages in venezuela. they're starving back home. mary anastasia o'grady is back

with us. what's this about this celebrity chef? what's he doing? puts his arm like this? >> yeah. that's something most people would call a gimmick. he turned this into a video and he drifts the salt off his forearm on to your food. i don't personally find it very appetizing but apparently some people do, and then he entertained and served the dinner to maduro, the dictator of venezuela and this has upset a lot of people. stuart: do people in venezuela know he was eating this steak dinner while they're starving back home? >> the people who are mostly outraged are those who are living outside of the country, who had to flee. they're the ones who are pushing back about this, saying why are you sort of, you know, entertaining this terrible person who has caused so much misery in our country. stuart: how long is this mess going on for in venezuela? you and i have been covering it for a long, long time.

we always say end game is close, but it never is close. nothing happens. >> well, let's keep in mind that all of the sort of opposition that might be there, they have been stripped of their resources so if you don't have resources, it's very hard to basically engage in dissonant behavior. on top of that, cuba is basically running venezuela. cuba has been a dictatorship for 60 years. i think there's no reason venezuela will change just naturally. i mean, it's going to require something from inside of the country, some kind of rebellion. i would say at least organizational help. i don't think you -- stuart: is it in our interest? is it in america's interest to destabilize and regime change in venezuela? >> oh, certainly it is, yeah. i'm not suggesting that's a good idea to land the marines or anything like that, but certainly a return to democracy, an economy that works, is in our interest because this is very

destabilizing for the entire south american continent. you have this huge refugee crisis and a lot of people who leave venezuela are flooding into these other countries that, you know, they speak the same language but it's very hard for an economy to absorb that magnitude of people. i mean, a country like chile that's already small is absorbing huge numbers of venezuelans. that's difficult on the economy. stuart: it's impossible to believe this situation goes on. >> look at bzimbabwe. stuart: you're right. thanks for joining us. see you again soon. next case. i have been doing business news television, financial news, for 40 years and more. i have never seen a market performance like this before. i will call it flat out spectacular. that is the nature of my editorial coming up at the top of the hour.

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stuart: june, 2015, trump tower, new york city. citizen trump rides down the golden escalator and announces he is going to make america great again. he is running for the presidency. what a joke say the critics. november, 2016, lo and behold candidate trump becomes president trump. he promises tax cuts. at "the new york times" paul krugman forecasts a crash and says the market will never recover. september 2018. the dow makes its 100th record since president trump won. and the stock market has added $9.5 trillion in value. when it comes to money trump's policies were right. the left was wrong. and look what we've got. an economy growing at double the pace of the obama years. unemployment at generational

low. all-time low for minorities. low interest rates and low inflation. that is big picture trump era economics. if you watch this program, you watch the most powerful stock market rally i can remember in my 40 years of covering financial news. since the election, the dow has gone up an astonishing 8,000 points. how often have we said, open your 401(k) and smile? well do it again now. 55 million with a 401(k). 30 million with an ira. a millions more with other pension plans, check those accounts now. you will have a very good day. thank you, mr. president. the third hour of "varney & company" is about to begin. ♪ stuart: well, look at this, 26,700. we're up 60 points. remember the election day? we were at 18,000. getting close to 27,000.

who is with me on this historic day? well ashley and susan of course. but also my pal charles payne, host of "making money," and jonathan hoenig capitalist pig hedge fund manager. we always love to introduce you that way, jonathan. >> good to be with you, stuart, thank you. stuart: first, charles, have you ever seen anything like this market rally? >> you know, stuart, we've seen rallies like this but what i think is so unique and distinct about this one it is the most hated bull market i have ever seen and i love it. i love it. you know why? because there is so much money that has got to come in here, particularly the so-called smart money. you know bank of america merrill does a survey every month and they survey almost 300 fund managers that manage almost $800 billion around the world. they have been so underinvested. they have been so afraid from everything to trade, to china, to central banks. they have completely missed this

rally. they have got one of the highest cash positions they have had in years. it is so interesting, everyone talks about contrarian talk about individual investors. they came in bullish this year, the big-time fund managers. now they're es extraordinarily bearish. they have to catch up. everyone hates the rally. which makes me love it. that is the okay neas about it. it is amazing. stuart: that is interesting. i didn't think of it in those terms. jonathan, come into this please. have you seen anything like this before? >> well the obama years were quite good when it came to the stock market. back then it was really a hated rally. stuart: come on, jonathan. it was nowhere near as explosive since the election of donald trump. >> the president himself before the election used to call the market a bubble. we know that. i don't think it's a bubble. i think it's a bull market. i think it's a late-stage bull market. the difference, stuart, now we're not seeing worry we saw basically the last 10 years. back then people said can't go any higher.

now the fact that the news is good. charles, i agree a lot of individual investors are underinvested. you want to be greedy when others are fearful and fearful when others are greedy. >> nobody is greedy right now know. i don't know what data you use, professional side, bank of america, merrill lynch survey is the best. on individual side i like to use association of individual investors. last time i checked bullishness was number three emotion. neutral was number one and bearish was next. i don't see people reacting to amazing market with amazing mood. stuart: jonathan is cautious and charles is bullish. i want to talk about marijuana stocks. most of them really surged. jonathan, you're a libertarian kind of guy. would you buy into the marijuana stock market at the moment? or is it just for traders in and

out real fast? >> no, i mean this is like prohibition in 1933. we're seeing legalization and opportunity to bring multi, multi, billion dollar business into the legitimate economy. this is a tremendous benefit. what about the investment? to me, stuart, feels very much like the mid 1990s when internet stocks were just on the scene, basically just three or four or five internet stocks if you want to invest in the internet. there is scarcity of way ways to invest in the cannabis sector. that is why you see the stocks take wild rides. this is not for me. there will be fortunes to be made just as in booze after prohibition. stuart: what do you say, charles, marijuana stock just for in and out traders? if you want to get in on the ground floor for the long term can you do that? >> i think it can be both. i agree one hundred% what jonathan said.

i said the ceo of tilray on my show. the stock was 59. the stock went up 400%. emails, alerts take profits. take profits. they saw him on my show. i got a great email a guy made 400% on his money. there is stock amazing stock. it was $58 on december 20th, 1999. it went all the way down and didn't get back until 2016. it is called microsoft. stuart: i knew that is where you were going. >> the idea here is that jonathan's right this is real. multibillion-dollar industry. it will be a bigger industry. near term a lot of people playing fact it becomes legal recreational use on 17th of october. i wouldn't chase the names but i think it is a real industry. stuart: tuck -- want to talk about amazon, as everybody knows they released echo products.

they made a release before apple's iphones went on sale. jonathan, do you think amazon is deliberately and effectively stealing the buzz? apple used to be the buzz kings and now amazon got in front of them. >> they're competing. stuart, respectfully you think president trump, i think jeff bezos. i think apple. i think companies like this that are the ones driving the economy forward. with amazon, stuart, every day it is like a new world's fair. they come up with some new miracle to put into your home. that made this stock, i believe what was it the second trillion dollar company. a stock and a company are two different things. fangs are out. technology stocks are old news. this is a great company, a stock i would avoid despite tremendous technology. stuart: what do you say, charles? amazon taking over from apple. >> jonathan is right, they're competing we develop. i'm in both of them in my retirement account. i don't plan on selling either

one. i think it is interesting, if after pell afforded valuations amazon is it would be a 1000-dollar stock on 4 pe alone. other measures it would be significantly higher. wall street says apple is only a hardware commodity company. amazon i agrow. i agree this much, going after christmas trees may be the last have you. watch out antitrust. stuart: promo alert. jonathan you wrote the book, just out, the new textbook of americaism. you have 30 seconds to explain that. >> yeah, stuart, both the left and right are clueless on americanism now. what america is about individualism. it is your right to life, liberty and pursuit of happiness. that is almost gone from the american politic these days. so a new textbook of mannerism. at textbook of americanism.com. american principle of

individualism and getting back to basic elements that make this country great. stuart: i will take it. i might buy it. charles, you have news on movement of your show. >> 2:00. i am excited with the market as a back drop i get to jump into things and explain things, talk about innings this i was only one who is excited about truck orders this year. you know what? i was able to parlay that to the economy. you know in august how many trucks were ordered? 52,400. a record amount of trailers. you don't make those investments if the economy is falling off a cliff. only when the economy goes straight up. we connect the dots. help you make money. stuart: "making money" with charles payne starts at 2:00 when? >> october 15. stuart: october 15th. decaf next time. thank you, charles and jonathan. we'll see you later. tesla, 296 a share. another executive is out. the supply management chief. no real effect on the stock from all the executive exits. 29on tesla.

wells fargo expected to cut employment by about five to 10% over the next three years. that is 26,000 people. this is to make the bank more customer focused they say. the stock hardly budged. deadline has come and gone whether christine ford will testify on her kavanaugh allegation. we're still waiting for news on that. coming up kim strassel with "the wall street journal" editorial board, she says a kavanaugh defeat would have big impact on midterm elections. walmart warning they may raise prices because of tariffs. the stock is not doing you much. tim phillips, has been critical of the president's trade policy markets are not worried. mirrored highs today. look at it go. president trump on the move holding events in las vegas before traveling to missouri for another campaign rally. if he makes any headlines this hour. you will see him here. this is the third hour of

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stuart: we're up 66 points for the dow industrials. we're at 26,700. it is a record breaking rally. mcdonald's raised it is dividend 15%. they will pay you a buck 16 a share. the stock is up nicely, three bucks. nearly 2% higher for mcdonald's. that adds 24 points to the dow, by the way. uber in talks to guy a meal delivery service. uber has its own service, uber eats, that competes with deliveroo. it was founded in britain by the way. available in 200 cities around the world. uber expanding.

>> walmart warning president trump's tariffs could raise prices on their products. he is always arguing with me. americans for prosperity, tim phillips. case closed, 15-love. prices are going up, tariffs are bad. >> shockingly prices are going up on american consumers. other side knows it. other side knows it. in several states they're on the air attacking republicans because of farmers hurting new york dak and missouri. the president has done so much good. one reason tax cuts. the reason the market at highs we can agree. tax cuts, deregulation, knocking down barriers to job creation. it has been amazing what this administration with some help from congress has done. they're risking undermining this with tariffs. stuart: let me they this at you. i said this before.

the tariff situation, put it like that is hurting china, much more than it is hurting us. their economy really is slowing down, big time. their stock market is down significantly. our economy, growing at 4%, our market, setting records. we're in a very strong position to exert power in the trade relationship with china. >> it is early in this trade war. long term history tells us it doesn't end well. it doesn't end well for anyone. walmart is right. prices will be going up on consumers across the board. food, everyday personal items you use. that hits the folks on -- stuart: i got it. >> my parents are on fixed incomes. i think about them. it does hurt. it is early in this trade war. stuart: but what are you going to do? the die is cast. the president has embarked on a tariff policy against china? he can't just withdraw it all of a sudden. what do you want him to do, cave? >> it is not about caving or who is the big tough guy or the

tough country. stuart: what do you want him to do. >> about continuing the prosperity run his polys are largely responsible. we won. declare victory, move on. did it with the european union. stuart: you want him to cave. >> what is it about caving thing? i want american consumers with prices lower. stuart: withdrawing tariffs that is caving. >> we're not winning with these tariffs, stuart. they hurt everyone including american businesses and farmer and consumers. by the way, steel tariffs they're hurting a lot of companies. do you really want the government in the position of picking winners and losers? we'll let the steel guys, they will be a winner under our policy but we'll hurt the other guys who need steel and aluminum in their products because they have to pay higher prices. that is not what we're about. stuart: make your point, i would really like to see the chinese stop stealing intellectual property and stop forcibly grabbing our technology? how will you do that? only way to do it with some other punishment of china. that is a trade war. you can't escape it.

>> you don't have to have a trade war with tariffs and protectionism. that hurts american farmers, businesses, consumers and really the whole world. but especially americans. we're americans for prosperity, stuart. we want prosperity long term for every american. stuart: okay. let me ask you this -- >> protectionism hurts. stuart: forgive me for interrupting you. >> it is your show. stuart: i'm sorry about interrupting but what would do you? they're stealing our intellectual property for a generation. they're forcibly grabbing our technology and using it for themselves, not paying for it. how would you stop that. >> that is separate issue. stuart: how would you stop it? >> i would say to american companies eyes wide open before you go in, make sure you go in, understand what they will do and take your products and businesses into china eyes wide open. stuart: they say it. nothing happens. they still keep stealing it. you don't have a policy -- >> let me ask you one question. do you think over the last 20 years that trade with china has

enhanced americans? stuart: yes. >> bingo. that is what trade does. it enhances across the board. it is never perfect. we don't live in perfect world. stuart: we can change the trading relationship so they don't steal our stuff. >> the way to do that is not wall over anything. we're not going to talk about the ads we're doing, stuart? stuart: no time. i was arguing with you too much. come back again. i enjoy it. >> bring your son with you. cabot is great. you're always nice to him, stuart. stuart: i like him. tim, you're all right. look at a couple of markets now. bitcoin, first of all, still around 6,000 buck as coin. price of gold, still around 1200 bucks an ounce. am i right? check the price of oil, i believe at 71, no, come down a bit, $70 per barrel. check the price of gas. i bet in the mid 80s.

$2.85 per gallon for average price nationwide. google has been accused of censoring conservative opinion. now there is a report that google employees were considering ways to manipulate search results about president trump's travel ban. political manipulation. we're on the story. we have some news on the airlines. for the second day in a row a major airline raising its fees for checked bags while another is expanding the use of face scanning technology. full details coming. of course we're watching your money. coming up we have dennis gartman. earlier this year he called for dow 30,000. ever since then he has been cautious. i want to know if he is ready to come back in the market in a big way. dow is up 60.

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stuart: we got a 70 point gain for the dow. we are at 26,729. 20,000 point above where we were back in march of 2009. it is called a rally. american airlines the latest to raise baggage fees, 30 bucks for

the first checked bag. the second will cost you $40. delta made the same move. jetblue, united already raised their prices previously. delta, more news on them. they will introduce a new terminal that checks you in with a scan of your face. they're doing it in atlanta with facial-recognition technology, from the curb to the gate. you don't have to use it if you don't want to but it will be fully operational later this year. everything you do at the airport your face is scanned in order for to you do it. that's interesting. check that big board again. mirrored highs all through the morning. coming up we'll talk to dennis gartman. he will tell us why he won't invest in cannabis stocks or videogame stocks no matter where the market goes from here. we'll talk to kim strassel at "the wall street journal." she says the chaos surrounding judge kavanaugh's nomination will have the impact on the midterms. she will tell us all about that

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stuart: we're holding with a 70 point gain for the dow industrials. holding in record territory. our next guest predicted that the dow would hit 30,000. since he made that prediction he has turned cautious. dennis gartman made that prediction. i don't know why he is smiling. did you miss the rally? because you said 30,000, here we come, i'm kind of cautious? did you miss it? >> yeah, i missed it. it has gone a great deal farther than i ever dreamt we could go. when i said 30,000 it was technical perspective looking at charts. we have a strong economy. i like american stocks relative to anybody else's country. i want to continue to buy here sell over in europe. i want to buy her and continue to sell over in japan and china. do i want to load the boat here? not really. i'm too old to load the boat. stuart: first rule of financial television, don't admit to a mistake.

you broke the rule. >> you have to admit mistakes. stuart: you're a good man for doing it. you're welcome on the program. we like that kind of thing. you don't like videogame stocks. you said you would never buy them? >> i will never buy videogame stocks and never buy cannabis stocks. i think they are examples of the deterioration of society. i just don't think there is anything incumbent in them. yes they will probably make money. i wish anybody who trades them well. i hope everybody make as bunch of money doing it, give me steel, give me the makers of ships and railroads. give me railroads themselves. give me maker of ball bearings. you heard me say on the show, say it again, i want things that drop them on my foot they will hurt, the real stuff of the economic growth. i just don't see economic growth coming out of cannabis and coming out of games. stuart: wait a second. you say games, videogames, ruining our society. you just broke the second rule of financial television. you're investing on the basis of

morality. what are you thinking? >> well i think that is the right thing to do. if i, it is, this is america. i get to make my decisions on my own. i get to -- i don't force them upon everybody else. as i said, stuart, i wish anybody who wants to invest in cannabis and wants to invest in games, i wish them well. i hope they make a lot of money. i prefer not to it. i hope they don't force me to do it. i hope they go up but do it without me. i would rather own ball bearings and stuff of general economic growth. stuart: would you buy a tobacco stock? >> no. i won't buy tobacco. this is somebody who used to be a 3 1/2 pack cigarette smoker back in college. thank goodness i gave that up almost 40 years ago. again i wish somebody who does it, i wish them well. hope it works. tobacco stocks have been a wonderful investment. stuart: liquor company, constellation brands, would you

buy that? >> i do drink martinis i have to break my rule, i will own those things. i guess there is an inconsistency there, so be it. i can still be consistent and still have fun with this. stuart: not bying videogames, not buying can that about, not buying technology, i assume you have a model portfolio. how have you done? >> i've done okay. i had one bad day earlier this year that hurt me but owning, owning the basic things of the market and owning high dividend payers served me very well over the course of last several years. i'm comfortable doing it. have other people done better than i have, have people owned tech only margined up to the hilt done well? god bless them. they have done great. that is just not my style. stuart: i bought blackstone and at&t, because they yield me six%. >> hard to beat, isn't it? stuart: it is not bad, a cushion, in case you have a

shocking downturn in microsoft for example which you missed as well. dennis, that is the third rule of investing. you broke that one. you forgot about microsoft. come back to see us soon, dennis. we love to have you on the show. thank you, sir. >> i will probably be in new york next week. maybe we'll get together. stuart: sit down next to my, please. you got that? we still don't know whether kavanaugh's accuser will appear on monday. a deadline passed last hour. but our next guest says if kavanaugh goes down to defeat, he is not on the supreme court, it will have a profound effect on midterms. this is the headline she wrote. the gop can't for losing. it goes on, a kavanaugh defeat would demoralize the republican base, not energize it. as you can see kimberly strassel wrote that, "wall street journal" editorial board member. she is here now. you think it would go against the republicans and republican

base if kavanaugh went down to defeat? make your case. >> i really do. people say oh look, this would energize republican voters. who it will energize, stuart, it will energize democrats. there is a reason why they're working so hard to defeat kavanaugh, they know this is a fabulous issue with their own base. they will say, look, victory, you need to put us in the majority in the senate, if you do, we will be able to make sure another replacement isn't named until we get all the way through. we can take the white house again in 2020. then that seat will be ours. own the flip side this will be very demoralizing to the republican base. they already believe the republicans are allowing themselves to be snowed on this they would view it as a huge defeat and be frustrated. stuart: it could actually be republican senators who defeat judge kavanaugh. bob corker, for example, jeff flake. the republican from alaska,

susan collins as well, they're four republicans, they could defeat cavanagh. >> well, correct. one of two things happens here. how does kavanaugh go down to defeat? republicans either lose their nerve in some way in terms of continuing on with the nomination, or they delay it, so that he doesn't get seated, in some way that allows democrats to win, for instance the senate and then permanently keep him off the bench or delay. the other thing is, that you have an individual senator or two who defects. they don't have a big margin of error. some of those individuals you mentioned. that is important because, even if it were one senator or two senators who did that, the republican base is not going to make that distinction. they will view that as a failure of the party overall. they elected trump in part. they wanted to give him control over supreme court picks. the senate, a say in that. so they gave republicans that as well too. they will not take kindly to this process being derailed. stuart: ask things stand now

what is your judgment as to whether or not a vote will be taken in the judiciary committee to pass it on to the full senate? will that vote be taken? >> look, i think there will be a vote either way. the question now, a question whether there will be further delay. you know, even though the accuser is known about this for a week they're now saying obviously that they don't think that she should testify on monday. not entirely clear why not. they're also making other demands about whether or not she has to speak first or she is going to make brett kavanaugh speak first. these negotiations, the republicans are trying in good faith to get to some ultimate agreement. whether she testifies or not, whether this gets derailed or not, i still think there will be a vote, stuart. stuart: what strikes me, is that judge kavanaugh' reputation has been trashed. i don't see how he gets it back. i think that is a crying shale. what say you? >> yeah. no, it is very frustrating.

we heard a great deal about the respect we need to show his accuser and also we, we have, she has rights and we need to hear from her. she has been given all that but nothing has been given to judge kavanaugh that even remotely resembles that. this is a man we need to remember while this accusation has been made against him has lived a sterling life and, so therefore deserves the benefit of the doubt as well too. stuart: will we ever find out if this allegation is true? >> that is what is really tough about this one, stuart. unlike prior me too allegations where there were corroboration, they talked about to people, there was pattern of behavior, specifics, where, when, what day, the circumstance, we don't have any of this here. also why calls for an fbi investigation don't make a lot of sense because it is going to be very difficult to ever get to the bottom of this. stuart: what a crying shame it is. kimberly strassel as always, thank you very much for being with us today.

we appreciate it. >> thank you. stuart: sure thing. a couple of california stories for you. governor brown signed a law banning plastic straws in restaurant unless customers ask for one. that makes california the first state to do so. the ban goes into effect january 1st. full service restaurants will get a warning for the first two violations and a fine of $25 for further violations. fast-food restaurants are exempt from the ban. i didn't know that but they are. fast-food restaurant are exempt from the ban. that is knew to me. ashley: they hand out the most. stuart: they do. governor brown also veto ad bill requiring schools in california to start no earlier than 8:30 a.m. supporters say delaying start times could lead to better grade and attendance. brown says the decision should be up to individual schools. >> man on your screen toured the flood zone in north carolina with president trump. he is the commander of the army corporation of engineers and epjoin us next. he is with me in the studio

today. he says the flooding threat is not over. looks like a buyers market in new york city. sellers are slashing prices at a level not seen since the financial crisis. are we talking real estate here? is that what we're talking about? yes, i think so. could be a sign high taxes are putting a chill in new york real estate. we're asking the question. ♪ how do you win at business? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com

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♪ >> this is connell mcshane back at the new york stock exchange as we watch the market, at least the dow and s&p continue their record-setting ways here on a friday as they are both up, led by the energy stocks. also industrials are doing quite well. see nasdaq at the bottom of the screen pulling back. we're watching technology after a strong start do that. some of the big names in tech and telecom sectors are being watched closely. facebook, amazon, netflix, many others will change sectors, part of a big reclassification of s&p 500. the communications services sector will be created for many stocks. some of the etfs tracking these sectors are being forced to do a lot of buying and selling to get their funds in line. that leads to pickup in trading volume. may lead to pickup in trading in

final hour of trading. we'll watch for that. keep it mere for "varney & company" after the break.

stuart: 77 points up for the dow industrials. 26,734. another record day. we just received this from the associated press. a dam near one of duke energy's plants in north carolina has breached. coal ash may be flowing into the cape fear river.

meanwhile, elsewhere in fayetteville, north carolina, the cleanup continues from the floods and griff jenkins is there for us. give me the latest from where you are, griff. reporter: well, stuart, that is not good news, because the cape fear river is what caused flooding here at the starlight motel, what is left of it. look at this image. the little river is adjacent to the cape fear river and it wiped out this 28-room, mom-and-pop-owned motel. it is absolutely devastated. the tree line you're sort of seeing in the background is where the little river runs, stuart. in the cape fear, it came over those trees and sheer force of the storm surge caused this entire motel to be wiped out. you want to talk about personal loss? the owner who is here, inside right now, meeting with insurance adjustors, he tells me that he and his wife put their life savings in the purchase of this motel last year and did not

have flood insurance. he doesn't know what he is going to do. in addition to the troubling news about the duke energy dam, this water was here saturday and sunday, now has receded, actually heads to southeastern north carolina to wilmington, to other areas, to south carolina and is expected to cause flooding this is why i talked to the governor yesterday, when he was visiting firefighters. are we out of the woods? he said not by a mile. it will take a long time for that water going south through at least the weekend to really begin receding while recovery crews try to come out. of course, you have got the billions of property damage just like this, this isn't a weeks or days problem. this is a years problem. in case of this owner, it may be the most horrific thing to have happened to him. stuart. stuart: got that griff. thanks very much indeed. back to you later. staying in the carolinas, florence, devastating floods. officials worry about more

flooding to run in south carolina as well. look who is with us in new york city, lieutenant-general todd semonite army corps of engineers. you're the man in charge? >> we're part of a great team. stuart: things are obviously not back to normal. some areas will gets. tell me where they are. >> just as your reporter just said. we're looking at cape fear river closely and the neuse river and the waccamaw basin in the south pardon of the pd river in south carolina. just so your listeners understand, last friday it was a up four feet in certain area. tuesday it went to 16 feet. then wednesday, it actually went down, the river went down. but today it is up to 17 feet. it will be the 21 feet probably by tuesday, maybe even 22 feet. so this is where you can't let the people get complacent down there. this water continues to be move down through a very, very

measured area. make sure we have everybody keep their head in the game. listen to your state and local officials,s make sure you're safe. stuart: in these areas you talk about you can't go back, can you. >> a lot of places you can't. i flew over four hours, 1000 different roadways blocked in different places of the state. stuart: in those areas you can't go back yet? >> that's right. some have orange cones. some could drive around a cone. best thing continue to hear what the local people are saying. stuart: when you fly over this, do you see floods over a very, very wide area. >> it is localized. there will be certain areas looks like the fields are fine. other areas there could be 30 or 40-acres flooding out. when we flew over the top of the river, size of that inundation is unbelievable. whatever the corpse can do with rest of department of defense, to continue to respond in fema and in support of the states.

stuart: president trump and administration, will be judged politically how well they managed and dealt with north and south caroline with the floods. what is your judgment of their performance thus far, your own performance basically? >> i will talk about what the corps does and department of defense does and fema. i've been so impressed how everybody is talking. goes to the state and locals. i was down in the north carolina eoc talking to mike and everybody is goat their head in the game and everybody is reacting f we anticipate something will go wrong everybody is in there ahead of schedule. therefore when a dam breaks you're able to respond to it. main thing everybody is on the same team. stuart: general todd semonite, have i got name right. >> semonite. stuart: thanks for being here. >> thanks for having part of the dod team here. stuart: thank you, sir. here is a sign that new york city's housing market may be struggling a little. the number of sellers cut their

asking price reached the highest level since, 2009. homeowners cut prices on 800 properties week after labor day. that is 100 more than the previous record. the realtors say a glut of new apartments is driving prices down. how about that? new concerns about bias against conservatives at google. employees reportedly tried to tweak the search function to counterpresident trump's travel ban. we have the story for you. it is a blockbuster. forbes is out with a list of most valuable nfl teams. the number one team is worth several billion dollars. we'll tell you who it is. but you have to go through the break first. speaking of the nfl, can't resist this, the cleveland browns celebrating the first winning game in nearly two years. rookie quarterback, blaker mayfield led the victory to over the new york jets. first victory since 2016.

my goodness, the jets, what are we going to do with them. ♪ this isn't just any moving day.

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stuart: well, well, well. we're up a bit more. just a few minutes ago we were up 60. now we're up 95, 96.

26,753. this rally holds. "the wall street journal" reports that some google employees talked about manipulating search results to counter trump's travel ban. susan, that is political manipulation. susan: they talked about it, talking about tweaking google search results. google wants it to be made clear nothing was implemented or nothing changed. "wall street journal" report says it would show different reports when you enter islam, mexico, or hispanic. search algorithms may be deemed prejudice or xenophobic, so they showed results showed how to counter the travel ban. this is suggested ben. stuart: they didn't do it. >> they didn't actually do it. stuart: but if you typed in search islamic, they would come up with a pro-immigration website of some sort. ashley: yeah. stuart: steering you away because they thought you were prejudiced? >> right. or, yes. stuart: believe this? susan: or xenophobic.

stuart: they were in tears when trump won. unbelievable. ashley: they were. stuart: let's move. we asked you before the break which nfl team is the most valuable? it is the dallas cowboys, net worth around 5 billion. they're number one. who else? ashley: well, number two, got to love them or hate them, new england patriots. hate them says our stuff. stuart: love them. ashley: new york giants, l.a. rams. 3.2 billion the rams are worth. redskins 3.1 billion. by the way cowboys are worth almost as much as bengals, lions, bills combined. let's not forget the cowboys have not been in super bowl for 20 years, america's team. stuart: manu. ashley: how does that compare, cowboys compared to manu, number two, real madrid, number three. barcelona, number four. yankees not in the top five. new england patriots are in the top five. stuart: rubbish. there will be more "varney" after this. ashley: rubbish.

stuart: we're really trying to catch our breath today, because look at this. now we've got another 100 point rally for the dow, 26,758 is where we are right now. want to show you one more graphic. this tells a big story. that says $9.5 trillion. that's how much the value of all stocks has gone up just since the election. ashley: used to be big techs doing all the heavy lifting with regard to the markets over the last several years. not so much anymore. it's a much more broad raising of stocks. defense sector has been sprung, utilities, it's very healthy because we have a very healthy economy. >> dow on track for a 101st record. the s&p on its 90th record. stuart: i have never seen

anything like this before, because i have been around a long time. you could definitely say it. >> the dot-com boom was bigger but this is faster. stuart: it's longer. longer than i can ever remember and i'm an old guy. here's cavuto. it's yours. neil: thanks for that, stuart. stuart: 1872. neil: thank you very much, my friend. we got a lot more on what seems to be a record-setting pace going on yet again. the dow up at record territory. we are closing in right now on 27,000, not all that far if you think about it. the fact of the matter is, these advances in virtually all key sectors, at least 10 of the 11 sectors within the s&p 500 were up. bottom line is, this is despite all the uncertainties, the same uncertainties we had yesterday, including what happens on the judge kavanaugh